signed between boeing and embraer, and they‘ re hoping signed between boeing and embraer, and they'reis waiting to see whether the brazilian government will approve this new venture between the american company and the brazilian company. the brazilian government has reportedly been resista nt to government has reportedly been resistant to an outright takeover by embraer of the american company in the past, and that's because boeing would have too much influence in the brazilian market as an american company, and embraer is a big player in the brazilian economy. and it's a supplier to the brazilian military, so there was concern amongst the brazilian government that an american company wielding that kind of influence could be a national security issue for the brazilian government. it's now on the brazilian government to see whether they approve this going forward. thank you for updating us from new york. you might remember a few weeks the us finally started charging a 25% tariff on steel coming into the country. now the impact is being felt. tictoc by bloomberg. "the eu is poised to ca

embraer will remain an independent company that makes military and private planes. another step in wrigley to approval to crit the world's largest industrial gas supplier tiered the american company has agreed to sell european assets to a japan company for $5.9 billion praxair is looking at antitrust concerns over the proposed takeover of a german company. and glencore will buy up to $1 which may its shares, reassure investors who heard the u.s. justice department is investigating the world's largest commodity trader. possible money-laundering and corruption. that is your bloomberg business flash. david: thank you. trade tensions this weekend comedies a focus on domestic business have benefited. this chart shows the russell 2000 outperforming international companies on the s&p 500, a sign investors are looking to domestic stocks as a haven from trade uncertainty. julian emanuel from btig is with us. small caps versus large caps, thus far, small caps, you are protected. is that going to continue? >> we think that is going to pause. you have gotten to a valuation diff

>> boeing owning 80% and embraer owning 20%, the total value of the company $4.75 billion.a for the extra leg room seat i'm going to california tomorrow the co-chairman of china's hna group died in what appears to be an accident. he fell, wang jian was on a business trip to france and fell from a wall while posing for a photograph he held a 15% stake and was in charge of strategy and day-to-day operations. lots of questions about what's going to happen to the future of that company and really just a sad, terrible story of how he was trying to get up on the edge of it was a church, right? >> it was a cliffside church in france >> trying to get the shot and then fell 50 feet. >>> also a major deal struck by ride hailing service uber may have to be unwound earlier this year uber sold its southeast asian business to regional rival grab in exchange for a stake in the company regulators say the deal substantially lessened competition there and proposing fines against the two companies and warning the deal may have to be undone. >>> wimbledon is in full swing in england and cnbc's

what they have come up with is a joint venture with a commercial aviation part of embraer. continue to have a defense operation and executive aviation, small, private business planes. but the commercial part is what boeing wanted and what they are getting out of it. the transaction values this part of the company at $4.75 billion, which is a significant premium when you consider that it is all valued at less than that right now. >> trouble for airbus. the company is set to miss delivery targets with their jets this year. why is airbus going to miss it? >> my colleagues were reporting over the weekend and into today that airbus is having continued issues with its a320 and the two types of engines that go on the plane, and it is continuing to cause headaches. and what we have been reporting and hearing is that it will essentially lead to 30-40 planes fewer of that type being delivered this year. >> glencore has fallen the most in two years in london after company said it was subpoenaed by the u.s. department of justice to produce documents relating to corruption and money lau

plus embraer and boeing joining forces >>> and we have economic data crossing the tape right now.he numbers. >> this is our june read on nonmanufacturing from the ism, it's due for supply management 56.2, no, i'm sorry, 59.1, wow, much better, don't you think 59.1, that sequentially follows 58.6 and 59.1, that's a whopper of a number. that's the best number since february when it was 59.5, and consider this, 59.9. just .8 higher than our january number that goings baes back to comps and that number accounts to a 20-year high at least the highest in my database a very solid number. let's see if we get any reaction look at 10s minus 2's, 283 ten-year, it really is something else to watch good data not have that upward yield effect like it used to. a lot's involved here but you want to pay attention to that dynamic. >> rick, thank you very much the stock market's perspective on this is getting a little bit of a lift on the dow, we have given up a good amount of the gains we saw earlier green across the board as the dow looks to bounce back from tuesday's losses, investors looking ahe

over the commercial jet programme responded by promising to take over the commercialjet programme of embraerer aircraft me back into fashion and what the big boys are bargaining on is over the next 20 yea rs bargaining on is over the next 20 years there will be more demand for high efficient regional aircraft like this one. defence companies will be busy as well and there is a large delegation from the united states. president has been telling european cup —— countries to spend more on defence. american businesses are more than happy to sell them what they need. in 15 years after concorde make it final flight, supersonic travel is coming back on the agenda. industry giant boeing and ambitious start—up boom supersonic will be making big noise about the arrival ideas about carrying passengers faster than the speed of sound. they are either a great new way to get around or a nuisance. electric scooter companies are attracting hundreds of hundreds of millions of dollars of investment from the likes of google are not eve ryo ne from the likes of google are not everyone is so excited about the two

boeing has agreed a deal with brazilian plane maker embraer, giving it control of the smaller firm'st venture will give boeing a significant stake in the market for smaller passenger planes. arch—rival airbus recently took control of the regionaljet business of canada's bombardier. a controversial overhaul of the eu's copyright law has been rejected by the european parliament. the proposed rules would have put more responsibility on websites to stop copyright infringements, and forced platforms to pay for linking to news. many high—profile music stars had backed the change, arguing that websites had exploited their content. but opponents said the rules would stifle internet freedom and creativity. following the facebook privacy scandal, many users of social media sites want more information about how their data is used. but bbc analysis of the terms and conditions and privacy policies of 15 popular tech apps and sites found that some are almost as long as a shakespeare play, and all require university graduate—level education to be properly understood. that's despite the fact that ma

the new company would be controlled by boeinging and embraer would keep its business and possibly itsand amazon is getting into the toy catalog business. the online retail giant plans to send out millions of holiday toy catalogs. that's according to bloomberg. amazon hopes to fill the void left by the closings of toys "r" us. they plan to mail catalogs to people's homes and hand them out at whole foods stores. back to you. >> still to come. pyrotechnics and parades. we're going to take you to the colorful fourth of july celebrations around the country. the colorful fourth of july celebrations around the country. 't only belong to you. child: bye, grandpa! and if you have heart failure, entrusting your heart to entresto may help. entresto is a heart failure medicine that helps improve your heart's ability to pump blood to the body. in the largest heart failure study ever, entresto was proven superior at helping people stay alive and out of the hospital compared to a leading heart failure medicine. don't take entresto if pregnant. it can cause harm or death to an unborn baby. don't take

rishaad: especially when it comes with embraer going with boeing.as had a horrid time of it the last few years. the thing is that many up takes have decided not to be afraid or carriers. is it just created more capacity or is it a turn in more fundamentals? steve: great question. first of all, air cargo has always been growing. the problem has never been the demand side. i think with e-commerce, there is an increasing growth of things moving in small package, which helps airspace as well. the challenge has been the supply side. more than half of the cargo does not travel on freighter aircraft, it travels in the belly of the passenger aircraft. the problem the cargo industry has had is that that belly space has actually been growing significantly faster. a triple seven passenger aircraft has a huge amount of freight capacity underneath it. as the passenger traffic has been growing so strongly, the belly capacity has been growing strongly as well. belly capacity is marginal cost. if the plane is leaving anyway, you may as well fill the space underneat

extending their reach into the market for small jetliners and prayer will remain independent -- and embraerl remain an independent company that makes private jets. buying back $1 billion of its shares, which may reassure investors after the doj them,estigating requesting documents that are related to possible money-laundering. mark: take a look at what is happening to european markets. we are three minutes and 58 seconds away from the end of the thursday session with stocks rising for the third consecutive six which tells you ther weeks or seven weeks we have had across the european space -- i will leave you with the currency board as we approach the close. this is bloomberg. ♪ ♪ mark: from bloomberg's european headquarters in london, i am mark barton. we are at the closed, led by autos biggest day, up by 3.4%. some of germany's biggest automakers tabled a proposal to cut tariffs to zero. trump proposing a 20% tariff on imports of european autos. it has given the auto sector a much-needed boost. up for the fourth consecutive day, best run since may. the 17th, to be precise -- precise. ,euts

embraer has declined to comment.da group is talking about integrating food and other business into one company. it's part of the company to simplify that group that includes 100 operating companies. ey may separate tata chemicals, salt, and others and beverages.nto tata haidi: that's it for us. >> we saw a verbal commitment saying, look, it's not just externality we're seeing when it comes to that. the banking group ahead of asia resource. hands off taking a approach. for any kind of sustained turn around he needs to see an easing of trade tensions. >> an hour after that we'll dive more into what's happening into the u.s.-china trade spat, that's with alex capri and senior visiting fellow. haidi: the countdown to tariffs being rolled out and under way. "daybreak: australia" with yvonne and ramy. this is bloomberg. ♪ yvonne: it is 7:00 a.m. here in hong kong. welcome to "day break asia." asia pacific markets headed for declines after wall street gains fizzled out. investors remain worried about tariffs. the dollar pul

values that at $4.75 billion, which is a significant premium when you consider that it is all of embraern that right now. >> trouble for airbus. the company is set to miss delivery targets with their jets this year. why is airbus going to miss it? >> my colleagues were reporting over the weekend that they are having continued issues with their a320. the engines on the plane. there are two types of engines that go on the plane, and it is continuing to cause headaches. what we have been hearing is that it will essentially lead to 30 to 40 planes fewer of that type being delivered this year. >> glencore has fallen the most in two years in london after company said it was subpoenaed by the u.s. department of justice to produce documents relating to corruption and money laundering. the world's biggest commodity trader says the documents related to the business in nigeria, the democratic republic of congo and venezuela between 2007 and the present. it is quite a big move we are seeing in the shares. is it potentially overdone, given the news? >> on the face of the announcement, potentially yes

of boeing up 13% this year not much reaction to today's announcement but as you can see, shares of embraer have dropped around $2. could an auto tariffs deal be on the horizon this is big news today that broke earlier this morning. german chancellor angela merkel says she's willing to lower tariffs on u.s. car imports to smooth negotiations with the trump adminitration and this comes after ceo's of german auto companies including daylor, bmw and volkswagen said they agree with president p t's today. those as coming from the u.s. ambassador of germany richard gornell. well while trade war drama with the eu may be easing, trade tariffs on china are full steam ahead and u.s. companies are rushing their products to china to try and beat any retaliatory tariffs. one example we'll show you take a look at the live maritime map for marinetraffic.com. this is so interesting. a u.s. cargo ship among all those vessels shown on your screen is full of soybeans, racing towards northern china to beat that 25% tariff. according to ship tracking data, peak pegasus is expected to arrive this friday about 5

you now have boeing with embraer. how does that change the landscape?is a long road from announcing a deal to transacting a deal. we're in a great position to compete going forward. the a220 is the best airbus in its class and that will give it a great opportunity. for bomboardier, we have an amazing aircraft. the third-largest and most successful aerospace program in history. with got a great installed base. we're ready to compete, ready to launch a cabin, which is game changing. something airlines and passengers will truly enjoy. we'll bring that comfort and to the c-series program. we're excited about the opportunity. we see a lot of market opportunity and we're here to come -- out,you take the c-series do those businesses have a critical mass they need? guest: absolutely. it's over 5000 aircraft, over $200 billion of revenue opportunities in the next 20 years. on the see rj, the regional jets, that's 3000 aircrafts. tremendous opportunity and we're well-positioned to advance. guy: you're focused around the world that china is a big market going forw

embraer, it will remain a separate company.edian pay for energy workers over the last year is $123,000 according to data that is not required by the u.s.. the salary is driven by a pool of well compensated professionals such as geologists and petroleum engineers. along with the cost of attracting and retaining young talent. that is your business flash update. coming up, what you need to know to europe for your trading day. tomorrow is job day after all. this is bloomberg. ♪ scarlet: just to recap, scott pruitt has resigned as administrator of the epa after all of those damaging revelations. joe: the and list scandal of -- endl-- the end list ess scandals. also because of the transformative work that is occurring. he says the unrelenting attacks on me personally, my family, are unprecedented and havd a sizable toll. there are about 12 open investigation into him. does it for "what'd you miss?" bloomberg technology is up next joe: have a great evening. this is bloomberg. ♪ selina: i'm selina wang, in for emily chang, and this is

that is why you have seen them investing in all parts of the market, we saw that deal with embraer.are trying to get into smaller, regional jets that they thought were previously unprofitable. the idea behind that is to plug all of the holes in the industry and not give any opening for comax to come in. alix: i was listening to the airbus ceo interview as well and what is next? what happens if it is airlines? like, we use u.s. steel and u.s. products to make the planes. -- if iat simple operate in china and i buy all my stuff from you, i am immune? thatat we've seen is exposure from supply chains is a lot more complicated than your average person realizes. a lot of companies will make a part in a different country, send those back to a different country to make the final product. that is what we're seeing. on the industrial side, manufacturers have been localizing processes and that is to avoid disruption in the future. , a lot ofge production is in house. alix: thank you so much. appreciate that. nicholas gartside on where he sees the opportunity in fixed income as the curve contin

boeing on the verge of a deal with embraer. are in the final stages of negotiations.olled by boeing would absorb a line of regional planes. goldman sachs says forget about a trade war. now is the time to buy commodities. the economic impact from sanctions is small and they are forecasting a 10% return on commodities over the next year. that theey warns prospect of a trade war between the u.s. and china has already economy. global he spoke today in newcastle, england. >> the tariffs that have been announced thus far will double the average bilateral turf rates, and could raise u.s. tariffs at the heart of this issue. it is something not seen in over half a century. there were tentative signs this trading environment may be dampening activity. >> that is your bloomberg business flash. tom: thank you so much. it is my book of the summer. with huge success, robert kaplan's "the return of marco polo's world." , throw tell you enough this on your kindle and you will be wiser than the president of united states on eurasia, the pacific rim. robert, let's do geography. bring u

embraer didn't comment. slowing in the united states, let's bring in our bloomberg intelligence analyst. us about the supplies of these cars, do they need to rethink where they make these cars? what about the overall strategy? steve: it will cause havoc if he imposes the tariff on autos. globally, i think all of the toomakers have been set up take it vantage of the low-cost productions, mexico, parts of canada and also around the world. what this will do is basically change everything. every auto supplier will have to produce the parts that drive the lowest cost. have alreadyakers cut jobs everywhere. it may lead to more automation for example. up, prices go up for consumers. they will find other ways to cut costs. base is one.ring increasing automation is another. that will drive jobs down. david: on -- a lot of this is uncertainty. if you don't know which way these tires will head on friday, that is another thing to consider. what is the impact going to be? >> they have some analysis. we believe that in th

competition to boeing and so threat of competition to boeing and so then it is combining forces with embraervernor of the bank of england was saying about the economy. jimmy, much more from you later on. thank you very much. let's return to the 70th anniversary of the nhs. staffjoined patients and charities at a service at westminster abbey and many others will attend a service this evening at york minster. martine croxall is at st george's hospital in tooting for us now. raising temperatures there. trying to keep cool, simon. we are in the courtyard with a tea has been taking place. you can probably hear the gentle strains of a welsh harp in the background. you mention the nhs and very often funding will be the next topic of conversation and for many years, charities have supported the work of the nhs. that is very much the case here in saint georges in tooting, where there is a hospital charity and the head of fundraising is noel cramer. hejoins us now. fundraising is noel cramer. hejoins us now. charitable work in hospitals goes back a very long way, doesn't it? yes. this hospital was fou

cheryl: buying 29 brand-new aircraft most embraer jets delivered couple years also order long haul jets this year a look buying from boeing stock higher more than half a perh percent in premarket canada's largest chain dropping ivanka trump fashion brand shoppers no longer going to find brand on web site by fall, those outfits completely gone from 90 stores, company says decision to pull the controversial -- based on performance not boy cots in united states and canada toronto behaved company owns saks fifth and lord & taylor, nice one finland doing more than hosting the russia and u.s. presidents a finish brewer created limited edition beer features president trump and russian president putin on front of the bottle, the phrases legalities settle this like adults, and may being lager great again released 10,000 bottles last week revolv reportedly sold out fun for u.s. and russian, helsinki because after today staff at both embassies need a beer or two or three. maria: or something, thank you so much cheryl. coming up. >> vodka. maria: that is true, that is right coming up president trum