the founding fathers of the european union have dreamt about federal at a certain point, the european was developing and was able to project stability and reassurance without going for further integration. because the environment around was stable and was not challenging. no one was challenging us from the outside. or if it was, it was bearable or manageable. well, now, the challenges are too much, and the european union has two choices. either to follow the british example or to start talking about more integration and more -- this is my personal opinion, i have to say. here i have to launch a disclaimer. this is a very personal view. but it is shared by a lot of my colleagues. we have a chance right now to really start talking and working on more integration. this middle or -- how to put it even, undecided position what we are as a union is hurting us all the time. and does not allow us to respond to challenges as quick and as decisive as we wanted. around the migration crisis, it took months and i don't know how many councils in order to reach a decision, which was tangible and acc

they meet on the small italian island where the first manifesto for a european union was drawn up. those that inspire them as they work toward a future without britain. and one year on. more than one million migrants thought refuge in germany over the past year. how are they faring? are they still being welcomed? ♪ i'm terry martin. welcome. the leaders of italy, germany, france have been meeting to seek in your direction for the eu, discussing ways of promoting jobs. the meeting was heavy with symbolism that started on the small italian island considered one of the birthplaces of european unity. >> a former prison island, now the backdrop for high-level talks highlighting where the european union heads next. in the 1940's, and italian antifascist intellectual imprisoned here first envisioned a united europe and monday, italian prime minister matteo renzi hosted angela merkel and france while aland -- francois aland. the ship serves as the flagship for the eu's migrant rescue operation in the mediterranean. a key issue in europe's drive to ensure security, says chancellor merkel, b

should leave the european union. there is so much that we bring to the european union.u voted to leave. the country did vote to leave. chuka: the country did vote to leave, so we need to find the best brexit package. that not only helps our economy to thrive in the future, which is why we want the closest trading relationship with the european union, but one that means we continue to be outward and open looking to the world and we don't close ourselves off which would be bad for british industry and jobs. but there's no getting away from it. in this referendum, immigration predominated. we have got to find a way of addressing the immigration issue in a way in the labour party that remains true to our values. i don't sit in that place that says immigration hasn't posed any challenges. i don't agree with that. there are also issues of national identity. on the other hand, to completely cut ourselves off from the rest of the world would be a hugely retrograde step. and to blame everything wrong in our country on eu citizens is totally unfair. we have to find a progressive

against a warning nationalism in a vote to leave the european union., french, and it italian leaders meeting for a mini-sum mit. a landmark legal moment at a -- pleadslian extremist guilty to order and destruction in timbuktu. will this stop more destruction in future? rio

that is true of most referendums, but not european union referendums.f you look at other roof in referendums, towards the end there has always been a swing towards the euro skeptic cause. >> did david cameron have any option at all not to have this referendum? >> it would have been very difficult for him. this is one of those issues that has been dividing british politics and voters for many years. there was a sense that it was coming to a head. that at some point, the british people had to be given a chance to express their own views in a fundamental binary way. this was the moment that it happened. it would have been difficult for david cameron not to do it. other people say, ok, have the referendum but he could have , campaigned in a different way. >> he looked very somber. was he a set man at that on the point 24th of june? >> regretful, i think. this is not how he wanted to go. he was being forced out of 10 downing street with a slight lack of decorum that he would have liked. many thought that this is the way british democracy works. there has bee

and european union. possible for the commission to decide we have had [indiscernible] it was the case and ireland. we have known that for many years. contradiction. now it is the decision of the european commission to ask for apple to pay. vonnie: the same thing happened to belgium in january. you had to recover taxes on 35 companies. this will be a problem going forward for many european countries. but we are working with all of the companies in the european union. it is the real competence of the european union to manage fair competition. not only fair competition among the companies but among the states. with not the first case apple. it is the decision of the commission to stay if it is possible to have a fair game among the different multinationals from everywhere. now is a chance to apply the decision by the european commission and ireland. all for justice. belgium haveight, prime minister, thank you. mark: we have much more ahead on the eu decision on apple. for the response, ireland's finance mini

and it is for those in the european union and now i think that they see that london has more of the effortand also with the policy in particular to every single european country multiplies. if you need to negotiate through china aster have that operation and work with the countries of africa and that is dead as a single country you have much less instruments then if you pull to get -- pull together that is what you hear so much from london to said they want to keep the strongest possible corporation going into the future because they see that as well that together it is quite simple the bigger you are you are more powerful so this is also the exercise of a global strategy as europeans to come not of that choice that our people will join together to have more powerful instruments to serve our citizens' interests better but in that word of today if you make decisions together the fed is coming from the outside but then you have additional instruments that are much more powerful so i think of that political leverage we would have but we have those measures of the treaties that we have not use

the european union can go from here.o put pressure on .heresa may for the u.k. to leave the eu. ,ut they also want to work out where does the eu go from here? massive project and it is as unpopular as it has ever been. how can they turn it around and start to say the eu is a force for good and there is still something we can do to benefit the people? >> some of the most difficult discussions were central around the economy, budget conditions. >> that is right and we can all turkey -- talk about the refugee crisis and even brexit as being the acute problems. slow growth, and massive unemployment for nearly a decade now. nobody really needs to know how to turn that around. we have seen here and there some employmento create and investment. there is nothing really being turnaround. > th>k you so much. here. we market closed 25 minutes ago. have a look at how those ended today. that was a short-lived rally. look at currencies and bonds. sterling stronger today. 10 year german bond yields down. yields are heading lower as wel

and now we have voted to leave the european union. the ability to make an immigration system is now they are. it is just a matter of which immigration model we adopt. and in our particular paper we put forward, the immigration tariff model, which is nationality neutral, it looks to emphasize skills and qualifications, and as a result, hopefully, if implemented, it will attract the best and the brightest around the world. as a result of the brexit vote, i believe no other international obligation, concerning refugee status and the like, has changed whatsoever. >> let me just add to that. there has been a lot of commentary, especially in the united states, but also in the u.k. to a certain extent, on the immigration and migration issue. i do want to go into the whole detail of it, but you have to go look back at the history of immigration into the u.k. really since the late 1990's. and shortly after tony blair's government comes in in 1997, you of a substantial surge immigration into the u.k.. and almost immediately, you begin to get pr

for 40 years has left the european union. as a result though the united kingsdom has currently all the regulations needed theoretically to make a trade deal. and the e.u. has 42 other trade deals around the world currently with countries as different from mexico to south korea, south africa, et cetera. so the u.k. has a unique position in this respect that already there are regulations there that will allow it to make a free trade deal in a more appropriate time scale than in comparison to maybe others that have taken ten years or whatever. he other part of it is if we invoke article 50 we're still under the um brellavement so you couldn't theoretically or at least legally from day one start playing around with regulations that we would wish to repeal in due course. so that also a time conversation to think about because as a result we would be unable to change with a amatic potential upside both regulations that it tends to preside over in that two-year process. >> thank you. the gentleman seated on the aisle there. >> i am

sanctions will embe imposed on them but the fiscal discipline and financial discipline inside the european union and the euro zone is extremely important. so whatever -- whatever the european needs, i'm not really sure we will find a way to not only to find the resources but also to we structure a lot of the systems which will allow the -- the function of the financial system. i actually -- i have to say, i mean, a few years ago when it comes to the greek crises, when it come to the crises of other countries and it will not. the european union is mature enough in order to deal with those issues, but, of course, you're right to be skeptical when it comes to, well, if these crises continue developing, well, then we are in trouble. so right now specially with the brexit, what opens up is as opportunities is more important. i mean, right now what we have as an opportunity and as a chance is to actually move the european project forward tardz more integration, fiscal integration, integration in other areas which we identify as essential and necessary to achieve cohesion and strength. the problem of t

and to a lesser extent to the european union. you have to understand the context.s that has been stopped and arrested and sought asylum with u.s. -- turkish public is acting -- asking the question how on earth a superpower like the united states would not know about what is going on? it is possible it would not know. there are little things that the u.s. has missed out on but that is the psychology they are actually in right now. listened to a parliamentary group who have come clearly with the intention of trying to build little bridges. recognizing that they need dialogue and recognizing -- i that they cannot afford to burn bridges with this western alliance towards which there is this anger in the european union. yes, erdogan will be meeting with putin. alternative for turkey? is it run a alternative? and i needs an economy think those who are running turkey right now recognize it even more in this particular context. so to wrap up, it is a difficult situation, i will make it much year to the give a turkish public. the only disappointing part of the delegation wa

for 40 years has left the european union. as a result, though the united kingsdom has currently all the regulations needed theoretically to make a trade deal, and the e.u. has 42 other trade deals around the world currently with countries as different from mexico to south korea, south africa, etc. so the u.k. has a unique position in this respect that already there are regulations there that will allow it to make a free trade deal in a more appropriate time scale than in comparison to maybe others that have taken ten years or whatever. the other part of it is if we invoke article 50, we're still under the umbrella -- so you couldn't theoretically or at least legally from day one start playing around with regulations that we would wish to repeal in due course. so that also a time consideration to think about because as a result we would be unable to change with a dramatic potential upside both regulations that it tends to preside over in that two-year process. >> thank you. the gentleman seated on the aisle there. >> i am davi

and now we have voted to leave the european union. ability to make an immigration system is now there. it's just a matter of which immigration model we adopt. it our particular paper we put forward the immigration care of model, which is national neutral, looks to identify skills and qualifications, and as a result, hopefully if elected him would attract the best and the brightest from around the world. but as a result of the brexit vote i believe that the other international obligations concerning refugee status and alike has changed whatsoever. >> not the sort of add a coda to the there've been a lot of commentary especially in the united states but also in the uk wizard extent on the immigration migration issue. i don't want to go into the whole detail but you have to look back at the history of immigration into the uk really since the late 1990s. shortly after tony blair's government comes in a 97 you see a very substantial surge, a very large surge of immigration into the uk. almost immediately you begin to get promises from poli

the european union does not need to worry about turkey migration deal. because i think the picture would've been a very different one and the same thing for the fight against isis as well. i'm really sorry that i went on. thank you very much. [applause]. >> that is a hard act to follow. i want to thank you for having me it is a pleasure to be here with you all of today. i think i'm gonna take a different tone than her previous speaker what i want to talk about today is the troubling trends that we seen in turkey over the last three to four years and what i would argue today was the events that we have seen after the coup has accelerated those trends in my view and i believe that is very worrying for the u.s. and turkey relationship and i will explain. to understand where we are i also think it's important to backtrack and take a quick look at our recent past i will start in december of 2012 when reports began to emerge of a scheme that was uncovered where turkey was working very closely with iran for the gas for gold scheme. now if you would recall the p

want seems british people to leave the european union.ill the prime minister remain in office to implement that decision? >> yes. host: not exactly born out by events. the comments held their own eu debate. >> it is about who governs us. if we get this wrong, we will not be able to organize and establish a democracy in this country which is what the people fought and died for. not just in one world war, but twice. >> the pound will plunge. inflation will go up. we will be caught in an economic whirlwind. these people irresponsibly want to inflict on millions of our citizens. it is a scandalous position to take. >> there are no economic benefits. 92% of fishermen are calling for the u.k. to leave i say, let us throw them a lifeline. >> it is typical to see how even the most upbeat brexiteer cannot see that we could experience months of job destroying uncertainty taking this country back to the dark days of 2008. i never want to go there again. host: less than 24 hours after that debate, the referendum campaign came to a shuddering halt. wi

is very clear that we would be safer, stronger, and better off in the european union. not leasty reasons, because we cooperate so closely issues ofnt security the day like counterterrorism but also from a prosperity viewpoint because we have access to a single market. 500 million people which is an important thing. i think the phrase that has been most commonly used by the government is that the eu would be in fact a leap into the dark to leave. the way we interact with our european colleagues and partners. these are questions we're trying to work through. the government i serve is very much focused on making the argument to stay in the european union because of the importance to the u.k. in doing so. there has been speculation but that debate is moving around the pros of staying in. you so much.nk we will turn to the american side to william hubbard. you were in england last year conducting countless interviews thingssiding over the there. as i recall, they ask you questions about squaring the magna carta are into the u.s. constitution with the detention practices at

against a warning nationalism in a vote to leave the european union.erman, french, and it italian leaders meeting for a mini-sum mit. a landmark legal moment at a -- pleadslian extremist guilty to order and destruction in timbuktu. will this stop more destruction in future? rio counts the costs and benefits of the olympics as it waves goodbye to the games. one american athlete has found his actions in brazil to be more costly than most. the latest on the fallout for ryan lochte. ♪ anchor: let's begin with what is mmitg billed as a mini-su for leaders of three of the biggest countries in the european union, coming together on a small italian island. our correspondent reports. reporter: matteo renzi was quick to say everybody thought the european union was finished after brexit, and these three leaders were trying to emphasize that europe was the solution, not the problem. they discussed defense, terrorism, and economic issues you mentioned earlier. francois hollande was at pains to say we need to generate more economic growth. all three leaders had a fo

. >>> the european union is cracking down on apple. the european union announced that apple owes billions on unpaid taxes. ktvu's janine de la vega joined us outside of apple's headquarters. you just spoke to an industry expert. what is he saying? >> reporter: the analyst told knee that the european union wants to put a stop to multi- billion dollars companies like apple in exchange for getting jobs in ireland. apple jobs in ireland. he says that it appears that apple is being used as a test case. the european union says that ireland must recover $14.5 billion plus interest from apple. the union found ireland allowed apple to pay a corporate tax rate substantially less than other businesses. the corporate tax rate is 12.5% but in 2003, apple paid 1% on its european profits and .005% in 2013. we spoke to a tech analyst about the union's decision >> here what is he had to say. >> the timing is close enough to brexit that they may be trying to clean up a few stuff before the brexit occurs. one of those things will be to collect unpaid tax

this was a fight against the european union power grab. i like sully's point, or i like his inference. >> about irish being nice? >> because irish are good folk, so are po lish and germans. the fact is the eu is not. and the battle here is the european union is hanging itself. and that's why i kind of like this story. it will not affect apple, it will not go through. that's why the market's not worried about it. but i love it. let the eu left wing bureaucrats run wild, okay, because the whole damn continent is going down. it's going down because of its own policy developed by this crazy european union idea, which we never should have had in the first place. >> last word to you secretary gutierrez. >> the problem is that i agree, brexit is the european union's fault. it's brussels' fault. it's all those 900 legislators that do nothing but legislate. >> there you go. >> but the uk is going to suffer. >> no it's not. >> nobody wins here. >> no it's not. uk is going to do great. uk is going to do great. in fact, take a look at consumer spendin

about to take place i think in june in just a few weeks time on whether the uk will exit the european union and there are proposals floating around to codify a bill of rights and perhaps even have a written constitution so the question i would put to you this morning is given all these ideas story about, what place does magna carta and its legacy have? >> you are a very difficult act to follow, may i say. thank you for your kind words. i want to say good morning to everyone here this morning. thanks for welcoming me so warmly to this conference. it's a great pleasure for me to be here us to talk about perhaps one of britain's greatest contributions to the conversation on law and human rights which is of course magna carta. now, professor howe said i will once again say for the record i'm not a john and i've never passed any bar exam so any impressions i offer of being well-versed in any legal language will likely come from howard spencer, watching the uk version oflaw and order , that's about as good as it gets. but i guess as a british system and from having spent 15 years in government i

it is the european union. it usually takes time. what are we expecting from the commissioner?t happens next? jones: she will lay out her reasoning in the case. she will send it to apple and she will send it to ireland. both apple and ireland have said they are going to appeal if the ruling goes against them. apple's ceo, tim cook says the note issue of taxes and -- and not tax paying enough tax, he has called a whole lot of crab -- crap. that will put it in the courts for years. it is hard to tell when we will get a resolution. francine: think you so much, jones hayden. -- thank you so much, jones hayden. let's get back to james bevan. when you look at apple, you like apple because it is undervalued. this could be huge because not only -- they have to pay up front $10 billion. their tax arrangements in the future -- james: the u.s. authorities could have a long way to say about this. there are billions of dollars sitting offshore. -- the taxities say rules are, we tax what you tax because that is the way companies operate. there is a huge global issue as to what will happen if

also the european union.l good and fine because it makes global taxation much fair in the future and taxation of such much more transparent. specific.ere is we have a long tradition of member states handing out benefits or advantages to specific companies. this is more than a case of taxation. the benefit can come in all forms. it can come of -- in the form of a taxp piece of land or benefit. that is the case here much more than the case of interfering in the very could work done in the g-20. >> are there any other companies tax have such favorable regimes, policies, treatments in ireland? we have more open tax cases but they have not been in ireland. , andve in luxembourg earlier on, we decided on a scheme in belgium with a number of european multinationals. just as well, it was decided on fiat and starbucks. those were not irish cases. it is the same thing we are looking at, as if companies get selected advantages not open for other companies. >> how is this really going to damage u.s.-european relations? >

many of the european union markets weren't talking about the slowdown. interestingly both ford and gm did silent te it as a second ha headwind. >> after the bmw results what is your top pick. >> top pick is volkswagon. target price is 160 euros. you cheerily have a large restructuring story. >> george, so much to touch on here, but sadly we have to hit this break. thank you for joining us. auto analyst at auto core. we have to get to this break. uk data coming up very soon, but in the meantime you can check out our world markets live blog which runs throughout the european uni european trade day. we'll be right back. >>> the italian lenders back in the red, but prime minster renzi tells cnbc the loan problem is manageable. >> personally, i really concerned for the future of european union institution, but not for italian npl, but for the situation of other banks. >>> commerce bank shares plummet as the germany lender blames profit rates. cnbc will be speaking exclusively to the cfo at 12:30 cet. >>> the yen stregthens its strongest point. government appr

turkey and you can see a long list of his very important field and particularly also deal with european union, turkey relation refugees, et cetera. next to him is dr. jonathan schanzer, vice president of research for the foundation of the defense of democracies in washington, d.c. again, if you look at his brief resume you look that he had dmernz the u.s. government and the department of treasury and some of the things in town and public extensively in the field. now, i would like to mention that this particular event as many others that we organize, we have cosponsors in addition to international law institute and, of course, we do have the potomic institute for policy studies and the center, international center for terrorism studies. we are honored always to have general gray who is going to make some closing remarks and as you know, is the 29th commander of the marine corps and senior chairman of the potomic institute. so we certainly welcome our speakers but i would like to welcome also the audience and i recognize in the audience many academics and government officials and diplomats dis

and, according to european union there is no real activity.nd then to top it all off, we all knew that apple paid very little tax, christine, in ireland, because that's what makes ireland so attractive. but in fact, they're page even less tax than we thought. in 2013, they paid only 1% tax in 2014, get this, they paid 0.005% tax in ireland. and now we're hearing from apple. we've also heard from ireland. ireland said they will appeal. apple said they will appeal. what i'm hearing this can a have been a procedure longed legal battle. and ireland's already saying we do not want to use big u.s. business from ireland. and we also don't want the hefty legal bill, as you can imagine, christine. >> ireland and eu on opposite sides of this. the eu wants that money back. ireland saying wait a minute, we don't want to appear -- the u.s. treasury saying the eu should not do this because it could hurt u.s. taxpayers in the end. i have to say $231 billion in cash. that's how much apple has. super high margins on a lot of its products. you look at a tax rat

the european union wants to grab the money first.european union grabs tax from the americans companies. when they repatriate here they get to write off what they gave to the e.u. liz: the european union is growing like crab grass. maybe great britain could pick up apple and say we'll leave the e.u. come to us. >> what's so crazy about this is like california going after nevada or california saying you moved out 10 years ago because you didn't like our high taxes. now we are going after you for 10 years of back taxes it's part of a bad trends. europeans need to switch what they are doing and start competing globally. elizabeth: the head of jetblue doesn't like this either. we'll have more on the war on terror. don't go away. what super poligrip does for me is it keeps the food out. before those little pieces would get in between my dentures and my gum and it was uncomfortable. just a few dabs is clinically proven to seal out more food particles. super poligrip is part of my life now. approaching medicare eligibility? you may think you

result of brexit you've got tleksz coming up in vary countries in europe a lot of them against european unionwing for the new european leadership to emerge tleksz in may of 17 for france september for germany after immigration problems even people great people like merkel the leader of the european union may have a difficult time in getting back and so i think she is quite right to play a long game. >> i want to bring in kevin kelley here you watched closely the market reaction to this closely, but bubd scenes reportedly there is a lot of talk about this two year time period this being away too short for negotiations. >> that is a really ambitious time period everybody expecting it we have seen the precedent set switzerland norway had to become judged to a lot of immigration policies as well as some of the policies on trade, that -- that even though they wouldn't he.u membership would have to be subjected to but i think highlighting what is going on with the uk leaving eu, they are able to set new trade partnerships that will benefit their economy, because as you highlighted early they are di

if someone wants to benefit from the european union single market structure, he also has to contribute to the cost of that operation. for example, as norway does. they pay into the system. referendum, no one talked about that. joined by be bloomberg reporter in berlin. salaries have come under pressure in the u.k. and companies are advertising more contract positions. according to an index by a job-search engine. the salaries are down by 2.4%. japanese airlines have canceled more than 19 domestic flights in the face of a typhoon expecting -- affecting at least 5000 passengers. some factoriesng as a precaution. the storm could bring more rain in one day than what normally falls in the whole month of august. the american actor gene wilder has died at the age of 83. took the lead role in the willy wonka and the chocolate factory. he also starred in such comedies as blazing saddles. he died on sunday in connecticut due to complications from the alzheimer's disease. global news 24 hours a day powered by our 2600 journalists in more than 120 countries. topcan find more stories on go. get int

news.ad a free trade agreement between the united states and the european union cannot be done before the end of the year. the french trade minister said that talks have been called off. therter: another blow for "most ambitious trade deal in the world." ande all but shut the door on the transatlantic trade and investment partnership. >> ambitions have not been respected. france would rather not harbor any illusions of this getting done before the end of the american president's term. reporter: france demanded the end of the current negotiations to be started on a better basis. obama had made this deal important to achieve before the end of his presidency. tes running for the presidency have expressed opposition to the deal. the economic minister said the deal is dead and some are holding out hope. the european commission said the ball is still rolling on fortiations and a spokesman america's trade representative said that there is studying progress. it would combined europe and north america. there were numerous points of contention between environmental and consumer standards. >> th

vote to leave the european union is creating a sense of instability and will lead to big problems. the leader of germany's social democratic party reiterated angela merkel message that britain cannot expect to cherry pick eu advantages. speaking at a separate event, the german finance minister says the british don't know how to deal with the outcome of the vote. angela merkel made a pitch to win back voters made by the influx of refugees and germany's deepening involvement in international crises. she hinted at tax cuts and attempted to broaden the party base. just over a year before the next federal election, merkel fielded questions in the television interview on eastern europe's reluctance to accept refugees. singapore has stepped up its fight against the zika virus after confirming 41 locally transmitted cases one day after reporting its first infection. the ministry of health said it will continue to screen people who had close contact with those infected. of the 41 people who contracted the virus in singapore, 34 have fully recovered with a majority of cases occurring among f

coming up european union is proposing new rules for banks riskiest bonds. ill take a look at coco's and what they could become a lot more appealing to investors. over 10 minutes from the european close. this is bloomberg. ♪ vonnie: live from london and new york, i'm vonnie quinn. nejra: this is the european close on bloomberg markets with under 10 minutes to the end of trading. a european union proposal could make banks riskiest bonds more attractive to investors. we are talking about cocoas which were created after the crisis to help boost capital. joining us now is financial regulation reporter john glover. of course cocos were really the jour after the crisis. what is happening to revise their appeal? gets complicated very quickly because these things are driven by strange regulations that a lot of people don't really understand. that's what happened in the first quarter. people kind of realized there might be a problem at some banks with paying the coupons because the coupons on these things are a bit like dividends. you can pay them. it's not compulsory

benjamin hall has more now in european union thinking differently about apple taxes. company ordered to pay up to $14.5 billion in back taxes plus interest to ireland after determined it received illegal tax benefits for over a decade. according to a blog, apple pai 5 i f every 1.1 million in profits under its last rate. >> thisen a clear message. member states tax benefits to selected companies. the decision comes after three-year investigation into you phone maker. for their latest quarter, apple posted $42.4 billion in revenue and a net income of 7.8 billion. california based company says it employs nearly 6,000 people, most of them in cork. they've followed the tax rules of ireland. as what's under question here is tax rules in ireland. they've done nothing wrong. and will challenge the eu's decision. >> apple co tim cook releasing an open letter reading, beyond obvious targetn apple the most profound and harmful effect of this ruling will be on investment and job creation in europe. >> using commission's theory every company in ireland and across europe is sudden

. ♪ trish: the european union just find apple $14 billion for illegal tax breaks in ireland.e nothing wrong and are going to appeal the ruling, but could this be part of a bigger money grab what by the european union? an easy way to punish american companies while earning a few extra dollars for themselves? apple stock trading on the news, ms. mcdonald has been following the story and joins us now. liz: the european union is saying you violated the eu's was calling tax breaks apple got from ireland illegal stated. apple house intellectual property in subsidiaries in ireland and enjoy buried tax rates from 1% to 4% depending on the year. here is what apple is saying, the european union violated the sovereign taxation status of ireland and our deal with ireland you will hurt investment and jobs was the statement from apple reads the european commission has launched an effort to rewrite epaulets history in europe, ignore ireland's tax laws and up in the tax system in the process and the commission is not about how much apple pays in taxes but which government collects the money.

. >>> coming up the european union -- the european union says apple owes nearly 14 and a half billion dollars in back taxes to ireland because of -- of illegal tax benefit -- a legal tax benefit over 11 years. tim cook is now -- o'clock is now responding . >>> at at&t, we believe in access. the opportunity for everyone to explore a digital world. connecting with the things that matter most. and because nothing keeps us more connected than the internet, we've created access from at&t. california households with at least one resident who receives snap or ssi benefits may qualify for home internet at a discounted rate of $10 a month. no commitment, deposit, or installation fee. visit att.com/accessnow to learn more. the european union has been investigating how much apple paid in taxes. now there is you -- use as the -- used as the cupertino -based check -- tech tech dying -- check correct diet giant owes billions of dollars to ireland . >>> what's beneath the financial and legal battle? >> analysts -- analyst said that apple can afford to pay the tax bill, but they say the message to th

the european union's antitrust regulator slapped apple with a huge bill today. its reason, eyreland granted the tack company unfair tax breaks for more than a decade and the back taxes come out to a whopping $14.5 billion an apple isn't happy saying quote, the apple's commi history in europe. the sper national tax system in the process. the case is not about how much apple pay is in taxes, it's about which government collects the money. it will have a profound and harmful effect on investment and job creation in europe. apple follows the law and pays all of the taxes we owe where ever we operate. we will appeal and are confident the decision will be overturned. jewel >> the european commission, europe's executive body, that has decided apple must pay up to $14 billion over to the irish government in order to settle unpaid tax claims. now, this is because they believe that the tax arrangement be ireland and apple was unfair. it was too lenient. the irish government don't want the money. p their beneficial relationship with apple and other u.s. firms that bring jo

the european union finding the u.s. company receiving illegal tax benefits and now apple is on benjamin hall reports. >> reporter: the european union thinking differently about apple's taxes. the company ordered to pay up to $14.5 billion in back taxes plus interest to ireland after it was revealed they paid $56 in taxes for every $1.1 million in profit. >> this decision sends message. members cannot give unfair tax benefits to selective companies. >> reporter: the decision comes after a 3 year investigation into the iphone maker. for the latest quarter, they posted a net income of $7.8 billion. the california-based company says they employ 6,000 people in ire land, most of them in cork. in ireland. what is under question, is what are the tax rules in ireland? >> reporter: apple says they have done nothing wrong and they will challenge the decision. tim cook says the most profound and harmful ruling will be decided in europe. every company in ireland and europe are be under laws that never existed. apple opened half a p

recently, we saw the european communities act of 1972, which regulated the united kingdom within the european union. adding further layers to this has been a devaluation of institutions within the european as well as legislation in scotland, wales, and northern ireland. thesendreds of years, documents and conventions of work in their own long-standing way -- rather than the herculean effort that would be required to pass a constitutional amendment, laws can be amended and revise more easily, but on occasion, that system has been called into question. most recently, there's been the 1998.rights act of it would seem from confusing the title of the bill of rights there would be little need for a human rights act. however, the bill of rights of 1689 was not concerned about the plight of the common man. instead, it dealt more with the relationship between the parliament and the crown. before the human rights act came along, democratic accountability, checks and balances favored in overall american south bill of rights. but in the 1960's in the 1970's, a more formal document picked up speed. the u.s. mod

the european union says apple must pay more than 14 billion dollars in back taxes to ireland because the company received the company got any deals and plans to fight the decision. one eastern iowa town is making sure tenants of rented facilities take more responsibility when they hold a party that gets out of hand. stay with your 24 hour news source, kcrg-tv9. amanda on cam: when children school... it can be very difficult for them and for their parents. anxiety can sometimes be difficult to pinpoint and can look different depending on the defiance is one trait that may be an underlying symptom. sot amanda: if you start seeing that just their general quality of life is starting to diminish, they're not being able to let go of things, they're not enjoying things they used to enjoy, they don't want to do things or try things they just want to stay at home.vo: she says those are signs your child may be feeling anxious and it could be time to seek professional help. an anxious child may not want to go to school or other activities and may also complain about stomachaches or headaches. p

. >>> why the european union wants to collect billion from a >>> today, italy will hold that state funeral for more than 200 victims earthquake. crews built tents for people near amitrice. many people are sleeping on the ground by their destroyed homes to avoid letting looters steal everything they own in the rubble. police arrested a couple from romani . >>> italian prosecutors are protesting buildings that made structures with the most damaged, including those that were supposed to be earthquake- proof. prosecutor will look into the construction of facilities including schools and hospitals. at least 292 people have died since the earthquake struck and its aftershocks. >> they were not prepared for that. so sad. let's check in with marty. >>> a fairly calm start to the day, temperatures in the 50s and 60s by the tail end of the commute. lunchtime will be ideal, around eg afternoon, close to 80 and push any mention of light showers until after 4:30 this afternoon. the monsoon has shifted. it is more from southeastern colorado into the midwest today where we'll see some of the heavier rain

you talked about britain's vote to exit the european union.tty surprised given the fact the beatles were pretty progressive and ringo starr says he voted for brexit. >> i was surprised by that also, which is why are brought it up in the interview which was otherwise about streaming music and the state of the music business. one thing that struck me is that he no longer can it is the u.k. home. he says america is his home and that theis sense european union has in some ways hurt the u.k. and it would be better on its own. the one thing that makes some sense about it is he does have this belief in unity and helping everybody out and considering everybody's interests and his take on how the eu has been functioning recently is all the different countries are looking out for themselves and that has led to that policy. >> he seemed pretty negative on the music industry. >> you are right. i guess it is because if you have been in an industry for 40 or 50 years, you tend to glorify the way it was before. he remembers what the music 1960'ss was like in

and european union. francis taylor and judge security and counter terrorism -- took part in this discussion. this is just over an hour. >> good afternoon, folks. welcome. i direct the transnational press project here and i am joint i might team including caleb johnson, jessica dipaola, and nikita ma'am. -- mann. let me first point out the emergency exits. there is the main staircase. just look for me, caleb johnson, or my other teammates if there is an emergency. project has been in existence for almost 25 years and has completed fieldwork in some 70 countries. it is this widespread fieldwork that we believe delivers to our audiences some of the most important information that goes to policymakers, the intelligence community, were fighters, white house, private sector, the media, and the general public which is why we hold events like this. we are nearing the end of two important projects. fall where we the will hopefully be launching new -- two new projects, one in north africa and one in central asia.

morn half of the uk voted june 23rd to leave european union. let's get you caught up on global market action overnight. in asia stocks were mixed. nikkei was down barely half a percent. hang seng up -- south korea is closed today. lauren: japan has a second-quarter reading. the cac in paris is up a point and dax in germany gaining 30 points this morning. adam: u.s. stock market futures look like this at 5:37. you can see we are in the green right now. we will see if that can hold when we start trading at 9:30. lauren: the nasdaq had four record closes this year. one of them was back on friday. take a look at commodities, oil up and gold up 13.45 an ounce. adam: if you like to trade currency, here is how the dollar is against currencies. europeo is -- euro gaining sligly against the dollar. lauren: let's look at the yield, 1.5%. adam: sources tell the wall street journal the move is a demand for broadband services will fuel growth in the businesses, formal word could come tonight. rcn provides cable cell phone while grande offers those services

remains in the european union, sort of all of the things being equal, maybe the e.u. is not as popular or effective as it should be, but it kind of stumbles forward, and the e.u.'s policies in the east towards the former soviet countries, ukraine, georgia and so forth, those also continue, versus there is a disruptive change. the u.k. leads the european union, a message is sent to brussels, to the world that europe is wrong about a lot of things, it's doing things wrong, and it needs to be changed. there's no question that is the message that the kremlin has preferred. and for that reason, there was a sort of sly smile that crossed putin's face when he was responding to questions about, you know, oh, well, no, i would never have any intervention in u.k. domestic politics. but the other point you make, that there is likely to be some sort of russian interest or russian connection on both sides of that issue and of other issues in u.k. politics and in european politics, agree with you completely. i've made this point as well, that the more moscow can help to stir the po

. >>> and why britain could remain in the european union for three more years.>>> looking at a commute that is doing where he -- very well on this monday, traffic on i-24 looking good into oakland. >>> some relief inland, but the coast is not changing much with the big fog bank. >>> and oakland man died after falling off of a jet ski in south lake tahoe. williams was riding on the back of the jet ski with a friend on saturday and they get a wave. the impact through the men from the jet ski and the friend was able to get back onto the jet ski, and neither of them were wearing life belts. >>> two gunmen suspected of robbing the menlo park grocery store, and the police need your help to find them. it happened saturday night at the trader joe's on menlo avenue near the santa cruz avenue, and the store was closed when the men got in. they ordered the employees to get on the floor, the payer demanded money and escaped with an unknown amount of cash. they were described as polynesian men wearing white face masks. >>> the england could remain in that european union for two years, they lack the

also, the european union, new legislation has been imposed. implemented.ng that is all good and fine because it makes the global taxation much fairer in the future. specifically -- is specific that we have a long-standing probation of member states handing out benefits or advantages to specific companies. thanis the case here more a case here of taxation. these benefits can come in all forms. they can come in the form of benefit.d or a tax that is the case here, much more than the case of interfering in the very good work done by the oecb. vonnie: apple has been tax headquartered in ireland since 1991. why did it take the european tax commission until 2014 to begin a probe? question. a very good i think the answer lies in the lack of transparency. hearingsas before started in different parliaments very difficult to get the information needed to have concerns about the arrangement. of course is a very good demonstration of the fact that we need much more transparency when it comes to corporate taxation of such. on that point, whose responsibili

retail sales jumping more than expected after britain voted to the european union. sterling strengthening of the back of that data. self driving cars arrive in pittsburgh, pennsylvania this month, and uber is behind it. to the car service plans replace more than one million human drivers with robotic ones. 30 minutes into the trading day into the u.s. julie hyman is on record watch again. although at the moment it would be difficult for stocks to move less than they are. so little change in the averages at the moment. the dow jones down five points. the s&p up half a point. none of them moving as much as .1% at the moment. a tight range after the release of the fed minutes yesterday led to this revised review that the fed would be on hold at least through the end of the year. despite this lack of movement overall, of course, there is movement with individual stocks. the big corporate story is walmart, raising its annual forecast, second quarter numbers topping estimates that u.s. stores, rising 1.6% last quarter. that was above what analysts anticipated. target, who

he has a sense that the european union has hurt the u.k.is belief in unity in helping one another out. considering everyone's interest. his take on how the eu has been functioning lately, all the different countries are looking out for themselves and that is led to that policy. lisa: he seemed pretty negative on the music industry. was that your sense as well? >> yes, he was pretty negative on it. if you have been in the music industry for a wild, you tend to glorify what it was before. he remembers what it was like in the 1960's and 1970's. even if you are a big shot like the beatles, there is a sense of camaraderie with your other artists. he does not feel that way anymore. i don't know that as a byproduct of how he feels in his life for the byproduct of the music industry is something he does not like. lisa: bloomberg business week is online and on stands right now. we will be back next week. ♪ emily: i am emily chang and this is "best of bloomberg west." we bring you all our top interviews from the week in tech. coming up, diversificati