>> it's a beautiful morning here at farnborough.the next five days, 1 ,200 exhibitors will welcome around 80,000 visitors. this year is not open to the public, focusing on business to business engagement. there will not be any russian presence because of the country's invasion of ukraine. a number of themes will be in focus including space, defense, that feature of flight. there was a backdrop of chaotic scenes at airports because of capacity constraints. eyes will be on competition between boeing and airbus. the duopoly are expected to bring around $21 billion of deals. delta has ordered 130 737 airmax carriers. a polish carrier has made a purchase of 60 airbus models. it is heating up on the ground and in the deals space. dani: there are concerns for the industry given all of the macro weights, will at -- what are executives saying about the long-term horizons? >> guy johnson has a list of great interviews, he will certainly be asking about the macro pressures. executives are also looking to the future of urban transportation. we

i hope you enjoyed the show from farnborough.website and the smartphone app. of course, you can also follow me on twitter. tweet me like treat you back. you can get may bbc allen. thanks watching. i'll see you soon. hello there. there have been some fairly big weather contrasts across the uk today. across western areas we've had some thicker cloud bringing outbreaks of rain, some wet weather near the belfast area earlier on today. but it's not been like that everywhere. again, across parts of south east england, east anglia, running up into north yorkshire even we've had lots of sunshine, so it's been another dry day and that's really been one of the themes of this month. we've hardly had any rain across southern wales, southern and eastern areas of england, indeed, there are some parts of hampshire that haven't had any real recordable rain so far this month and there might not be much here because although there is going to be rain for the next few days, the majority of it will be across north western areas. there'll be little,

it says the prime minister attended the farnborough airshow and gave a whimsical speech.t didn't turn up to meetings of the cobra emergency committee. that should be the financial times, which i can exclusively reveal says data has been cast on britain remaining home to the tech giants soapy back. it says because of the collapse of boris johnson's efforts it says because of the collapse of borisjohnson�*s efforts and his government to make a sell—out. it's failed to do it. i'm going to show you the financial times. it has been published. we want to make any kind of statement, i promise. turning to baroness altman. lovely to have both of you with us. do you want to kick us off at the metro, please? it is very vivid front page. it us off at the metro, please? it is very vivid front page.— very vivid front page. it really is all the front _ very vivid front page. it really is all the front page is _ very vivid front page. it really is all the front page is covered - very vivid front page. it really is| all the front page is covered with this record breaking temperature. the

f farnborough is where air taxis come to the front. is transforming transportation here around the world. here in the uk and in the united states and rest of the world, we are seeing acute congestion for ground transportation and seeing unprecedented demand for air travel. >> you applied for certification with the uk. a big part of the process for full certification beginning commercial service still look at 2024 as the beginning of commercial service? is that in the u.s. or u.s., europe and other parts of the world? >> we see incredible opportunities both in the u.s. and around the world today, we just announced we are applying for uk validation of our an faa certificate this means uk caa is tracking with the faa as we go through the certification. >> moving in tandem? >> exactly so we can seamlessly bring service to the uk. >> you had in the situation a couple of months ago with the test flights and briefly suspend flight test operations you resumed that now has that set you back or are you on schedule? >> we are on schedule. we have

the farnborough airshow takes off today. we are live at that event next.s is bloomberg. ♪ tom: welcome back to the open, we are 30 minutes into the european trading day. the week starts risk on as central banks take center stage, the ecb battles to restore credibility with the first race type -- rate hike in a decade. mario draghi's government in italy comes crashing down. china is getting the cold shoulder from global investors as president xi's policies backfire. it is risk on, commodities and oil are up, basic resources, copper and iron or as well. july 20 is when mario draghi will address parliament. the dax is gaining 105 points, up .8%. ftse 100 in the u.k. is up a little over 1%. let's see how things are playing out across sectors. energy and the top of the list would basic resources gaining .2%. pressure from china on the banks to support property as that mortgage strike continues. health care another defensive's the green. let's get to the farnborough airshow now, back for the first time since 2019 with a convention showcasing the best of commerci

while the farnborough international air show has resumed after a 3 year hiatus due to the pandemic. it kicked off with a major deal announced between delta airlines and the american aircraft maker. boeing. delta said the order for $100.00. boeing 737 max 10 aircraft will help modernize its fleet. and that it expects the max plans to reduce the fuel consumption by 20 to 30 percent. the order is great news for boeing, which has recently struggled to compete with the european rival, airbus well for more on the steel. i want to go to our correspondent at the new york stock exchange, jens corta. now jens boeing has really struggled to keep up with air bus after it's max 8 was involved in deadly crashes in 20182019. now this delta deal is the latest in a series of $737.00 orders. does this mean boeing is finally moving past those crashes? well, chrissy, it definitely is around coming. you is so there is no doubt about it, especially as delta has not ordered any plane from boeing for quite some time. and the last figures order is about more than 10 years ago. and also what is quite the thi

we are here at farnborough, oursupply in that respect.ur supply chain people will be having lots of meetings with suppliers, and we are a mallet —— managing the challenges on a day—to—day basis. it challenges on a day-to-day basis. , , ., ., challenges on a day-to-day basis. , ., ., basis. it is blazing hot today and it focuses _ basis. it is blazing hot today and it focuses on _ basis. it is blazing hot today and it focuses on climate . and it focuses on climate change and global warming. aviation produces a lot of emissions. what can be done to make the industry more sustainable? that is a big talking point. in sustainable? that is a big talking point.— sustainable? that is a big talking point. sustainable? that is a big talkin: oint. , talking point. in some ways it is aood talking point. in some ways it is good that _ talking point. in some ways it is good that the _ talking point. in some ways it is good that the level - talking point. in some ways it is good that the level of - is good that the level of awareness at this hour show,

it says the prime minister attended the farnborough air show and gave a whimsical speech.inancial times says doubt has been cast on britain remaining home to the tech—giant softbank — because, it says, of the collapse of boris johnson's government. the daily mail splits its front page before that tory leadership, penny is down on his part among herfellow mps. right, let's plunge back in. james camille want to kick off this time. there are various takes on this, but in essence, the times has a tory race thrown wide open. they think the story justifies a tory race thrown wide open. they think the storyjustifies the headline? i think the story “ustifies the headlinevh think the story 'ustifies the headlinevh headline? i think it does. suworters _ headline? i think it does. suworters of— headline? i think it does. supporters of liz - headline? i think it does. supporters of liz said - headline? i think it does. supporters of liz said it l headline? i think it does. - supporters of liz said it wasn't a good night for her. she was hoping to pick up plenty more support is from su

more than eighty—thousand people are expected to attend the farnborough airshow this week. it can keepssrooms have air—conditioning but this heat waves is certainly testing. air-conditioning but this heat waves is certainly testing.— is certainly testing. normally we send them _ is certainly testing. normally we send them aside _ is certainly testing. normally we send them aside to _ is certainly testing. normally we send them aside to cool- is certainly testing. normally we send them aside to cool down i is certainly testing. normally we - send them aside to cool down rather than being _ send them aside to cool down rather than being in the classroom but we have water— than being in the classroom but we have water on hand. school uniforms have water on hand. school uniforms have also _ have water on hand. school uniforms have also been swapped for pe kits which _ have also been swapped for pe kits which the _ have also been swapped for pe kits which the children do not seem to mind _ which the children do not seem to mind i _ which the children do not seem to mind. ~ . �* which the ch

in farnborough comes against the backdrop of airport chaos and conflict in ukraine. we'll hear how that is affecting the mood. g. 20 finance ministers of fail to come together on a response to food shortages. energy price rises. we'll ask out, correspondent, why. as europe swelter is under a record breaking heat wave? we'll ask how technology can protect communities while this is data business, i was in berlin. welcome to the program. at a 3 year long pandemic break, the ation industry is holding its 1st major event with the return of the farm brook global ass show. but it comes against a backdrop of an aviation industry battling staff shortages and bankruptcies across the globe. but particularly in europe, leading aviation companies will showcase the latest innovations during the 5 day event. despite reco at temperatures, forecast in the u. k. tens of thousands of visitors are expected to still attend the show taking place southwest of london less cross to our correspondent jack carrick, who is in farmer for his great to see you and to see the plains behind you. i w

in farnborough comes against the backdrop of airport chaos and conflict in ukraine. we'll hear how that is affecting the mood. g. 20 finance ministers of fail to come together on a response to food shortages. energy price rises, will ask out correspondence, why. as europe swelter is under a record breaking hate wave will ask how technology can protect communities. while this is data, be a business i was in berlin. welcome to the program. after a 3 year long pandemic break, the asian industry is holding its 1st major event with the return of the farm brit global ass show. but it comes against a backdrop of an aviation industry, battling staff shortages and bankruptcies across the globe, but particularly in europe, leading aviation companies will showcase the latest innovations during the 5 day event. despite reco at temperatures. forecast in the u. k. tens of thousands of visitors are expected to still attend the show taking place south west of london.

we'll wrestle with him and go to the farnborough air show with the huge lineup of guests. the ceo of qatar airways and dave calhoun if you are a road warrior, you don't want to miss this. you are watching "squawk box" on cnbc (woman vo) sailing a great river past extraordinary landscapes into the heart of iconic cities is a journey for the curious traveler, one that many have yet to discover. exploring with viking brings you closer to the world, to the history, the culture, the flavors, a serene river voyage on an elegant viking longship. learn more at viking.com as a business owner, a serene river voyage on an elegant viking longship. your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. com

enthusiasts today is their day as the biggest international aviation gathering of the year — the farnboroughd aircraft makers the discussions will be about how to bring down costs and increase sustainability. if they can't, ticket prices will go up. the global pandemic radically changed the aviation industry and many are now asking is the age of ultra cheap travel over? theo leggett reports. arriving at london gatwick after morning light from ibiza this plane will be back in the air in less than an hour on its way to majorca, in this business time is money. the planes are on the ground they are earning any so turnaround needs to be kept very tight. 0ver needs to be kept very tight. over the past 20 years budget air carriers have become extremely efficient and extremely efficient and extremely adept at cutting cost to the bone allowing them to offer very cheap tickets sometimes didn't get an international flight for less than the cost of lunch or a coffee when you arrive. but there is a problem, life is getting more expensive, fuel is getting more expensive, fuel is getting more expensive, so

we go to the farnborough air show, that kicks off monday.coming at the angle of what the big manufacturers are doing, but it is interesting to see that airbus yesterday upgraded its forecast for aircraft demand. it sees demand -- solid demand going forward, and sees pivots into higher energy prices driving demand for aircraft. while we are going to see potentially airlines having a problem in the near, long-term demand holds up and we will have to be flying more energy-efficient aircraft. let's bring in janet henry. when you think about the labor markets, what do you see happening? at the moment, there are areas in the economy struggling to get the labor they want. is there a more permanent state of affairs we saw six months ago, is there something we are going to be living with for quite some time? what are the implications of that? janet: it has already been longer-lasting than any of us anticipated. we go to the start of the pandemic, i think many of us feared we would see a prolonged period of structural unemployment, that people would n

among them is the european giant airbus, which has been touting its wares this week at the farnboroughent theo leggett is there and met with the airbus chief executive. we have had issues across the board. it comes from small components and small electronics components as well like other industries, the car industry. there are aerospace specific issues we have to deal with. there is no specific commodity impacted more than others. it is an issue with the staff in the us, europe, an issue with logistics, finding raw materials is not easy at the moment. all suppliers are struggling to emerge from 15 months of flying idle, which is basically what we're seeing, coming out of covid—19 that is difficult and we think it will last for at least 12 months and thatis last for at least 12 months and that is the situation we are in. that is the situation we are in, , ., , that is the situation we are in, y., , ., that is the situation we are in. so you still have supply chain problems _ in. so you still have supply chain problems and - in. so you still have supply chain problems and we - in. so you

the bi annual farnborough air show in the u. k. but a, the ation is still recovering from the covert pandemic which grounded many planes re challenge reports. the gulf between vision and reality rarely yawns as wide as at trade shows that farm bra and travelers, green high tech hassle, free in the real world. q stretch baggage piles up and pilot strike that farm bureau. boris johnson is a top gun in an hour. a f typhoon in the real world, his angry policy has just given the british prime minister, the boot scolded for speed and safety engineer for a sustainable future. but if we had a glimpse how we might fly to morrow, it is at farm bureau, boom, supersonic wants to bring back supersonic air travel to decades off to concord was grounded. we deeply believe in a future where more people can go more places more often. we believe that speed enables that future and therefore it's not good enough just to make a little bit of progress on efficiency. we need to make a big leap forward and completely remove sustainability as a reason not t

great stuff coming out of farnborough. we miss you here. today you've got earnings from ibm.stand it's 8:00 p.m. your time. definitely will be looking for some of those results. anna: indicated. -- indeed. tomorrow we focus in and get the aftermath of that. we will also be looking at earnings from netflix. member that last time around. it took it down a whole new road when it came to the streaming wars. u.s. housing stocks will be interesting given the housing data and sentiment on that front and u.k. jobs data just like in the u.s., we have seen a tight labor market and the u.k. and so that will be interesting to watch how that evolves. and we will get area cpi as well. alix: we still have this risk on rally. you buy risk and sell from bonds. that wraps it up for me and hannah. this is bloomberg. -- me and anna. this is bloomberg. ♪ >> from the world politics to the world is this, this is "balance of power" with david westin. ♪ david: from bloomberg world headquarters in new york to our television and radio audience worldwide, welcome to "balance of power." president biden h

yvonne: that was boeing's ceo of commercial airplanes speaking with guy johnson at the farnborough airw. twitter has admits -- and its latest court filings, they are urging the judge to hold the trial as soon as possible over must scrapping of that buyout. sources say the walkout of leading officials in boris johnson's administration have caused the talks for now is a play a leading role in talks. david: let's look at your sector moves. going to the japanese lunch break, one in japan, energy plays on the back of this moving up in commodity prices in general. they're having a second order effect in terms of energy. yvonne: given that apple skipped they are going to be slowing hiring, if that does happen, it would send some shockwaves on apple supply, to percent losses. this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. yvonne: 11:20 9 a.m. in tokyo and japanese markets are going t

more than 80,000 people are expected to attend the farnborough airshow this week.trified and there are many more of those then you may think, so aircraft, we are at the farnborough airshow here, aircraft is a really clear example, mainstream aviation needs liquid fuels indefinitely, really. the problem with global warming is the accumulation of carbon dioxide in the air, but it is not carbon dioxide in general, it is the fossil carbon that we have dug out of rocks and so, this is the type of thing we need to do. thanks for 'oinin: type of thing we need to do. thanks forioining us. _ type of thing we need to do. thanks forjoining us, paddy _ type of thing we need to do. thanks forjoining us, paddy low. _ type of thing we need to do. thanks forjoining us, paddy low. the - forjoining us, paddy low. the situations in which they have already tried this out an aircraft, they are now setting up a team with this in oxfordshire and after that process they are thinking of setting up process they are thinking of setting up a manufacturing site somewhere in the uk. ben affleck

. >>> for the first time in years, the industry leaders are meeting at the farm farnborough air sho.ectations are high for travel demand later in the decade and beyond this is now where we find our own phil lebeau sitting in front of planes with the big interview. phil, over to you. >> thank you, dom. greg hayes we were just talking before we came on. it feels good to be back >> it does. >> three years since we had an air show like this >> incredible. >> when you look at the momentum out there and we expect big orders announced today and tomorrow, are you expecting one of the years like we saw in '17 or '18 where the airlines have to reposition fleets >> i don't think we will see the mega orders three or four years ago. the problem is they are sold out. boeing and airbus. if you want that aircraft, you are talking seven years before you see that the narrow body fleet is sold out. maybe we will see orders for 77 777s >> you guys are going as fast as you can in terms of production as fast as you are doing, you notice the impact of the supply chain, whether the material side or not >> i

and despite being brought down by his own side, sounding upbeat, opening the farnborough airshow.. the new prime minister's — i don't know who. the new prime minister's opponent _ i don't know who. the new prime minister's opponent in _ i don't know who. the new prime minister's opponent in waiting i i don't know who. the new prime minister's opponent in waiting is | minister's opponent in waiting is unimpressed. this minister's opponent in waiting is unimpressed-— minister's opponent in waiting is unimpressed. minister's opponent in waiting is unimressed. , , ., , unimpressed. this is a party that is out of ideas. _ unimpressed. this is a party that is out of ideas, out _ unimpressed. this is a party that is out of ideas, out of _ unimpressed. this is a party that is out of ideas, out of purpose, - unimpressed. this is a party that is out of ideas, out of purpose, they. out of ideas, out of purpose, they are tearing — out of ideas, out of purpose, they are tearing each other apart, and i think— are tearing each other apart, and i think for— are tearing each other apart, and i thi

we got the delta orders yesterday at farnborough today. things, nearing the order for the dream minor and then 777 partner 66 next jet. that is 1 billion right there. >> i did get tired of waiting for the okay. i sold some attire but sold some badly for my travel trust because i was tired of being haggard by my partner. >> affected by who? >> my partner. >> only. >> yeah. i knew you were not focused on anything i was saying. >> i kind of hurt it at the end there. >> it's true because even though it's not a public company we have been focused in part on these the plunge and valuations for private. >> doing alarms? >> i'm doing until card. >> we did it a week or two ago. was at 45? and then tiger and sequoia are in an was it six? so instacart by the way back in march this was cnbc.com slashed its own valuation by 40% to 24 billion and now a bloomberg story in the last 24 hours says that investor capital group cut its own valuation on instacart for to 14.7. what about a company that may have been valued as high as $39 billion. >> they were al

we can leave boris johnson there in farnborough. l the prospect of being sent to rwanda is not deterringndent june kelly reports. last year, 28,500 people came to the uk in small boats. so far this year, 14,000 have arrived — and by the end of 2022 the figure could rocket to 60,000. the mps believe migrants aren't deterred by the fact that the uk may not be the end of theirjourney, and they could be sent on to rwanda. we are questioning the deterrent effect, and we've certainly asked the home office to provide evidence and modelling of how they've reached the conclusion that this policy is the right way to go. it hasn't been forthcoming. we're also concerned about the cost of it. in northern france, migrants plan how they're going to get across the channel, seeing it as the final short leg of their long journeys. the uk should seek a deal with the french, say the mp5, which would allow processing facilities to be set up so that people can be assessed here as to whether they are eligible to be admitted to the uk. they believe that those given permission would then not have to pay the crim