with this offerfrom fiat chrysler.e will go with this offer from fiat chrysler. there are a lot of different moving parts to this with all the different companies that were involved. with regards to a bonus for carlos ghosn, the year before, and discussions of that voting on that, it's hard to believe he would get a bonus, given what's going on in the investigations into his financial misconduct. his alleged financial ‘s conduct. yes, i think it's a matter of course, is of a kind of things that are voted on at the shareholders meeting so they have to do it but as you say, whether they will go along with that, that is another matter. lots of questions, i don't have any answers they are going to go today, — i get it ever stop thank you for your time. —— get today. china's consumer price inflation hit a is—month high in may, mainly driven by rising food prices. let's go to our asia business hub where rico hizon is following the story. fill us in on this latest news. up, up, and away. it would seem so. chinese donors are s

fiat chrysler pulling the plug on the merger with french car maker renault. fiat blaming politics for the meltdown saying quote it's become clear that the political conditions in france do not currently exist for such a combination to proceed successfully remember the government of france is renault's largest stakeholder. it owns 15% of the company both stocks are down, fiat mildly so, but renault is down more than 7% joining us now from hong kong is the deals editor at "the financial times" and he first broke the original merger story. arash, thank you for joining us. what went wrong in this planned merger >> well, i mean, this is an unbelievable turn of events. this thing was done and dusted it was a story about a smooth, crisscrossing negotiation led by john elle kin, the fiat family scion who had masterminded this merger, consolidation that was too difficult for his predecessor to pull off, for any of the titans of the industry. this quiet, young italian aristocrat had put everything to bed with the french government, french car company, japanese, calmed

this is before fiat chrysler comes in.e a lot of the way they work because a lot of the way they work because a lot of the way they work because a lot of investigation is going into what happened with the chairman, means nissan wants to clean the act up means nissan wants to clean the act upa means nissan wants to clean the act up a little bit. that has been blocked by renault which a lot of people question the matter of saying has been pushed by the french government, the french covenant has a 15% stake in renault. without going on one side and the argument between sn and renault over that reform within the company, there has been the emergence of a possible deal between it and one and fiat chrysler. —— renault stop that seems to have stalled a little bit. there are now talks about could re—emerge and of course this is all in the backdrop of today's agm. what's all this is going on, shareholders want to throw their weight around at the agm they have to agree on what bonus that shannon would have got for the previous year

so now investors asking what happens now for fiat chrysler? and i'm very pleased to say that we have a guest joining us in auto -- an auto expert to help us make sense of this news so we have got anna marie baisden. thank you for joining us this morning. so we have now heard that the deal fell apart due to the french government really meddling here. first question to you, is the deal really dead >> hi, joanna. i think it is. it was always going to be difficult because there are so many moving parts involved in this i mean, the ownership structure between renault was an issue and then outside of the companies as you said you have the french state involvement. so i think it's going to be too difficult to pull off now. but that's not to say we won't see more tie-ups of some description. but i think this deal is probably dead now. >> i want to come on to the issue of potential more tie-ups in just a moment but just going a little bit further on the renault fiat deal when the deal broke we had an analyst on this show who cited valuation as a potent

he just downgraded window and fiat chrysler -- downgraded renault and fiat chrysler following the breakdown of. talks between the two this is bloomberg -- the breakdown of talks between the two. this is bloomberg. ♪ vonnie: from new york, i'm vonnie quinn. guy: in london, i'm guy johnson. this is the european close on bloomberg markets -- on "bloomberg markets." let's get a check on the first word news. here's courtney donohoe. courtney: president trump told reporters in france a tariff decision could happen around the g20 manning -- g20 meeting in japan. time is running short for u.s. and mexican negotiators on the threat to impose tariffs next week. to administration's goal is stem the flow of illegal drugs and undocumented migrants from mexico. in new york state, officials at west point say one cadet has been killed and 22 people injured in an accident. the u.s. military academy says a vehicle heading for a summer training site overturned on a dirt road this morning. no other vehicles were involved. no word yet on what caused the crash. fiat chrysler and the french government are bloomin

fiat chrysler withdraws its $35 billion merger plan with renault nissan over disagreements with the frenchnment. and on the markets: hopes of a rate cut have boosted us shares but the news on mexico talks have taken the shine off. we start in washington where talks between the us and mexico to avert a destructive new trade war have broken up without a deal. president trump has threatened to hit all imports from mexico with rising tariffs starting at 5% from monday, unless it takes action to curb illegal immigration. from mexico city here's will grant. from the mexican perspective, us ta riffs from the mexican perspective, us tariffs would be both unjust and unwelcome. first, unjust. while the mexican government is saying to washington that it has done everything in its power since president came to office. to tackle the question of undocumented immigrants passing through its territory. specifically, it says that deportations are over 80,000 since december last year. that is up on the same period before. they are trying to strike the balance with respecting the human rights of the people pa

hours later fiat chrysler opted out to the mega merger entirely saying. it has become clear that the political conditions in france do not currently exists for such a combination to proceed successfully. please send representatives it indicated the company could say yes to the merger with a little more time. but many analysts were skeptica. the venison alliance has been on the rocks and co callers guns arrest last autumn. the latest events are a shock to the auto industry and the french government which says it hopes the door is not closed on a future merger deal. european central bank is keeping interest rates at historic lows. thank president mario draghi said benchmark rates which are near zero won't increase before the middle of next year. having gone up since the financial crisis in two thousand eight and were brought down to stimulate europe's economy. draghi says those low rates still makes sense today amid global uncertainty and growing trade disputes. thanks for cast wasn't all gloom and doom though it expects gdp growth of one point 2% this yea.

, fiat chrysler has denied.in los angeles international airport. many travelers grounded by delayed or canceled flights at one of the nation's busiest airports, even traffic lights, that caused major backup. back to you. maria: thank you so much. cheryl, we want to look at markets, future with gains this morning, take a look. gain of 75 points right out of the gate, s&p futures up 8 and nasdaq futures up 27. stay with us, we will be right back the latest innovation from xfinity isn't just a store. it's a save more with a new kind of wireless network store. it's a look what your wifi can do now store. a get your questions answered by awesome experts store. it's a now there's one store that connects your life like never before store. the xfinity store is here. and it's simple, easy, awesome. maria: welcome back, firmer tone in markets this morning. dow futures up 75 points quarter percent, s&p futures up 8 points and nasdaq up 27, stocks rally for second day yesterday in potential hopes of rising interest hike. mi

talks continue with fiat chrysler.cipation we may see a press conference tomorrow morning. vonnie: here in the.,

let's start with the fiat chrysler plant.have a lot of questions about that. the announcement of those talks was made public late in the day, they were ready to start moving forwards, but they fell apart quite quickly. and they fell apart quite quickly. and the resistance of the french government as a renault shareholder to advancing those talks really was the problem. whether they can be resurrected as what the shareholders will want to know, because there is a huge bill for that deal to happen. and that is because for the good old—fashioned car and that is because for the good old —fashioned car giants that and that is because for the good old—fashioned car giants that have been around a long time, things are really tough. they are having to invest tens and hundreds of billions in new technology, electric, to move the car on in new technology, electric, to move the caron and in new technology, electric, to move the car on and take it into this green low emissions world and that investment is enormous, and one of the ways th

there was a story they were going to create a third-biggest carmaker with fiat chrysler. at fiat withdrew its proposal. this happened because the french government asked to delay a decision while the board of renault was almost ready to go with a majority in favor of the deal. formind behind this deal fiat chrysler, this was a clear sign that the french government wants to have full control of fiat and renault and that was enough for them. this is why they decided to walk away. says youatement fiat never know, this is quite strong at the moment. at the moment we do not see fiat coming back immediately to discuss with renault. officialsf french have been speaking to the press after this ended and they say wasfrench government coherent and firm in these talks. what does this mean bigger picture? that french companies are closed for business or that they wanted a better deal, how difficult is it to understand the nuances? is thatis clear here the government and politicians have a great influence over renault. wasr you are no board mostly in favor of the deal and then the repr

talks continue with fiat chrysler. some anticipation we may see a press conference tomorrow morning. areie: here in the u.s., we getting a nice bounce and equity markets after jerome powell spoke earlier. 1.25%. 500 up toymakers on top of the list. yield keeps crawling higher. a bit of a selloff in bonds, 2.14 at the moment. the dollar index a little stronger, at 97.31. no joy there for dollar strength advocates. guy: let's talk about what's been happening with the fed today. the federal reserve chair speaking earlier at a listening event in chicago, pledging to keep a close watch on the fallout from the steepening disputes between u.s. and it's largest trading partners. "the fed will act as appropriate, anticipating the expansion." ubs head of asset management joining us now. should the fed cut rates? >> no. powell is waiting to see whether the data supports such a move. what he said is what we wanted to hear. they are going to watch that data and be accommodative when and if it is warranted. i'm not sure the market i

. merge with the riser and it didn't work out -- fiat chrysler.w? it's hard to know what to happen, iam now? it's hard to know what to happen, i am worried, this is shocking. it's tragic what has happened and i'm hoping it's going to end one day. because it's hard to live this way. that is carole ghosn speaking to michelle fleury in india, the country —— to michelle fleury. now to india — because the country has announced retaliatory tariffs on 28 goods from the united states. it comes after washington removed india's preferential trade status which allowed indian companies to sell some goods to the us without paying duties. i'm nowjoined by sameer hashmi from mumbai. it's nice to see you, sameer hashmi. the tit—for—tat trade dispute today is between india and the us. that's right. it's tit—for—tat after the whole china us trade war. now china's neighbour, india, doing this matter with united states. it's not at the same scale in terms of size. in india's case, india has been deferring this decision for years. they been talking about it since 2018

and fiat chrysler believe it or not makes money here gm brings china to fiat chrysler which they don't and autonomous, gm is making a lot of moves there and fiat chrysler needs a partner in that area. >> what would it take for a deal like this to go there? there is have been a lot of merger talk. is there resistance from the u.s. buying public or simply resistance from general motors >> i think it's resistance from general motors i don't think anybody in the buying public really thinks about who makes the jeep, who make this silverado. it's general motors or fiat chrysler or both the brand loyalty is big we've answered all the questions about what consumers care about when both of those companies went bankrupt. they're still selling a lot of automobiles in america and elsewhere. whether or not federal regulators would have a problem with this, i think is an old school issue because these two companies combined today have less market share than general motors had when i started covering them 20 years ago. they aren't huge players maybe there would have to be some moves made in the picku

fiat chrysler is withdrawing the renault merger offer that came suddenly it was hours earlier that the companies were planning to put out a joint statement saying the plans were moving ahead after getting an okay from the renault board. in a statement fiat said it's become clear that the political conditions in france do not currently exist for such a combination to proceed successfully france of course the french government owns 15% of renault renault shares on this while first look at fiat shares up by 1 cent check out renault shares, see what's happening down by 6.25%. that's what kevin is referring to. >> i spent too many hours last night on the phone with many of the participants in this transaction to figure out what went wrong only - >> it was the french government. >> well, very interesting -- >> nissan board members were going to sit out of it. >> it was a very interesting situation on what really happened which is the deal had been struck effectively between the chairman of renault and the chairman of fiat chrysler with the blessing of macron with the french -- so the view wa

this should have been a takeover of fiat chrysler, but renault to fighty trying against that, making merger of equals. ?s that what happened >> we can say this was a fiat takeover, to be honest. they tried to do a 50-50 company, that was the plan. and the french government delayed the plan. what we are hearing since last night when we broke the news is was the french government continuously trying to get more time and was asking more conditions of fiat. essentially, the board was meeting. we are hearing that the renault was keen to do a deal until the french government asked for more time and more conditions. they wanted to have a deeper understanding of what nissan wanted to do. at this point, the fiat chrysler board met and decided this was too much. they withdrew the offer, and in their statement, they are quite strongly blaming the french government heard -- government. we are hearing from a source close to fiat chrysler that they say it is unacceptable that the french government wanted a stake in full control. obviously, the french government is saying something different. they a

looking to revol tksveal with fiat chrysler. more on that when we come back ng and everyone i've ever loved away from me. everything. i blew my ankle out and i got prescribed pain pills by my doctor. if making my detox public is gonna help somebody i'm all for it. i just wish i would've had a warning. ♪ applebee's new loaded chicken fajitas. now only $10.99. hey! i live on my own now! i've got xfinity, because i like to live life in the fast lane. unlike my parents. you rambling about xfinity again? you're so cute when you get excited... anyways... i've got their app right here, i can troubleshoot. i can schedule a time for them to call me back, it's great! you have our number programmed in? ya i don't even know your phone anymore... excuse me?! what? i don't know your phone number. aw well. he doesn't know our phone number! you have our fax number, obviously... today's xfinity service. simple. easy. awesome. i'll pass. >>> welcome back to "street signs. thomas cook shares are oncor for the best day it's selling the tour operati

fiat chrysler says the proposed rger with runoff is off.he italian-american automaker had pitched the idea to its french rival just last week, but yesterday the fiat chrysler withdrew the $40 billion offer. it cited a lack of support from ron alts to biggest shareholders, the french government and nissan. amazon says it will soon use drones to deliver packages to customers. the company unveiled the new aircraft yesterday. it says the prime air drones can carry five pound packages up to 15 miles. they file a complaint for takeoff and land like a helicopter. amazon hopes to put them into service within months, but they offered no tch port, re, go cbs money watch.com. at the new york stock exchange, i'm diane king hall. >>> was given the check on the weather. a bit of a cooldown. >> a lot. >> a lot of a cooldown today. some of us are going to be 15 to 17 degrees cooler than we were yesterday. >> natural ac. >> the onshore flow turns off and it feels like whiplash. and after this big cooldown, we will warm right back up again doing it early nex

fiat chrysler up by 0.2%.point about watching the m&a story of the auto sector, but also watching concerns around trade tensions, specifically over the mexican border. auto parts suppliers higher as a result of that. valeo is up. auto parts not doing badly. hargreavesside, lansdowne because they are hargreaves lands down because they are caught in the eye of the storm. we see bae's up by 1.1%. not an norma's amount. enormous amount. matt: with european stocks rising this morning, following asian stocks, up as well. u.s. futures are higher after zone trump suspended his plans for tariffs on mexico. joining us now in the studio is the global head of credit strategy at desk analytics -- and desk analytics at bnp paribas. let me get your take on what happened to the biggest story for markets this morning. donald trump has taken tariffs off the table for mexico. how positive is this for markets and for global trade? two-way risk when it comes to trade and markets the past few only, it has been seen as about escalat

up, the french government seeks to ease tension and a carmaker after a proposed merger with fiat chrysler. and as france gets its second win in the women's world cup, will t take a closerer look at t how french fooootball got to whe it is today. first, our top s story. ♪ the race to replace theresa may kicks up a notch this thursday. is setst round of voting to 11 it at least one of the 10 people currently in the race. boris johnson formally launched his campaign on wednesday with a promise to take the u.k. out of the e.u. even without a deal. >> polarizing and with neon blonde hair, one of britain's most recognized politicians, boris johnson is the front runner to succeed theresa may. to get there, he has been keeping a low profile. other than possibly withholding the multibillion divorce bill. a notion that is out of the western. at his launch, he said a note yield brexit remains an option, culling the possibility of leaving the european union without an accord a vital tool of negotiation. >> they want no deal even more than i do, and will simply not get a result of we get the impressio

shery: fiat chrysler has confirmed it is abandoning a proposed merger with renault. the french carmaker wrapped up a late-night toward meeting with no decision. that prompted fiat to walk away. our chief north asia correspondent stephen engle has the latest. this was a delayed decision as nissan pushed back. what do we know? stephen: this was a deal almost in hand. we are hearing criticism of this merger proposal, which first came up on may 27, had started to face persistence among the interested parties, including nissan. you are right, this is the second day in a row of late-night board meetings that ended without a vote, apparently at the request of the french government, which requested the vote be delayed to another date. this is intended to create the world's third-largest carmaker. a stakech on a -- won in renault. they had been -- we had been hearing for the most part, fiat agreed to a lot of the concerns. the state also wanted a continued role in governing the merged entity. we are hearing fiat has decided to abruptly withdraw this proposal after a second day

fiat chrysler proposed a merger with renault. is liked it, and it got the french government, however,. parents set various conditions >> no factory closures and no indudustrial job losses -- however, paris set various conditions. >> no factory closures and no industrial job losses. nick: a balance of power between french and italian directors and guaranteed maintaining renault's alliance with nissan. the french government said three of four conditions was met, but on wednesday, they requested a delay to request nissan's approval. fiat chrysler opted out of the megamerger entirely, saying it has become clear that the political conditions in france do not currently favor such a combination to succeed successfully. that thed indicated company could say yesterday merger with a little more time, but many analysts were skeptical. the renault-nissan alliance had been on the rocks and ceo carlos carlos since ceo karl i ghosn's arrest. >> bryan, what are we seeing? bryan: renault shares arare takg a beating, down 6.3 percent. clearly a di

. >> fiat chrysler has confirmed it is withdrawing a proposed merger with renault, a deal that nissanmly against. the french carmaker wrapped up a board meeting with again, no decision. that prompted fiat. to walk away. it is the dream of this particular grand alliance dead. >> it is looking clear that this is dead. aim not going to say that final, but we are getting signs that this is definitely not a good process. towards a deal. in china, you say, walk away. negotiating tactic, too expensive, walk away. walking away in this sense could be the final nail in a deal which perhaps a few days ago seems like it was heading toward a preliminary agreement at the meeting.oard but they had two late-night sessions at the renault board meeting that did not end with a vote on either case. and we are seeing now that the fiat chrysler executive team pointing the finger for all this falling apart on the french state government. this is a statement -- it has become clear that the political conditions in france do not currently exist for such a combination to proceed successfully. fiat chrysler sayi

fiat chrysler withdrawn its merger proposal for french car maker renault. failed attempt by renault board members to reach a decision on the offer. the french government requested a postponement on a vote. the french government is the biggest shareholder in renault with a stake of more than 15%. >>> walmart redesigned. a staple. the familiar blue vest worn by sales associates. the biggest retailer ditched the old style following feedback from employees. the new vest will be a neutral steel gray with color on the trim. it's meant to help make associates more recognizable. meanwhile, presidential candidate bernie sanders showed up at a walmart shareholders meeting to urge the company to allow workers a seat on the board. >> walmart should give a voice to its workers by allowing them seats on the board of directors. the concerns of workers, not just stockholders, should be part of board's decisions. >> the democratic candidate from vermont also called for walmart >>> youtube updated the hate speech policy prohibiting videos with white supremacy and neo-nazi vi

fiat chrysler saying, no, the deal is done.e: looking at the d-day commemorations, 75 years since d-day. with president trump addressing the crowds gathered there. to put it into perspective, the sacrifice in normandy, 75 years of european freedom and prosperity. tom: the two presidents walking down to the cliffs above omaha beach. and truly extraordinary. what is so amazing is those of us with a collective memory of ronald reagan in 1984, and our time has moved on, over 40 years. truly extraordinary. as the two presidents try to understand the sacrifice that was given. ♪ juliette: you are watching "bloomberg best." i am juliette saly. fed officials descended on chicago this week with investors looking for signals of possible rate cuts. we sat down exclusively with dallas fed president robert kaplan at the conference. he told us the central bank is on high alert as a result of trade tensions. ♪ mr. kaplan: i think it is early to make a judgment on that. we are going to be very vigilant about understanding these heightened trade

fiat chrysler saying, no, the deal is done.looking at the d-day commemorations, 75 years since d-day. with president trump addressing the crowds gathered there. to put it into perspective, the sacrifice in normandy, 75 years of european freedom and prosperity. tom: the two presidents walking down to the cliffs above omaha beach. and truly extraordinary. what is so amazing is those of us with a collective memory of ronald reagan in 1984, and our time has moved on, over 40 years. truly extraordinary. as the two presidents try to understand the sacrifice that was given. ♪ ♪ juliette: you are watching "bloomberg best." i am juliette saly. fed officials descended on chicago this week with investors looking for signals of possible rate cuts. we sat down exclusively with dallas fed president robert kaplan at the conference. he told us the central bank is on high alert as a result of trade tensions. ♪ mr. kaplan: i think it is early to make a judgment on that. we are going to be very vigilant about understanding these heightened trade

lauren: no deal so far with mention he co-and no deal for -- mexico and no deal for fiat chrysler. the automaker is with drawing the merger offer for renault. it would have created the world's third biggest automaker. fiat said the deal collapsed due to the political climate in france. france's budget minister said talks could resume some time in the future. t fiat chrysler shares are down 1% in the premarket. cheryl: amazon unveiled a bunch of new futures which promised to change your shopping experience. lauren: fox news headlines 24/7's brett larson joins us now with everything amazon. we want to start with the drones. they're coming in soon. >> they're coming to get us. amazon's been talking about drones for a few years now. seems they've finally gotten the faa approval. you can see one of them taking off. this is how your stuff is going to be delivered. i'm curious to see how they're going to handle more of an urban environment where we already have skies that are crowded with things like skyscrapers. cheryl: new york. >> and like billboards and all this other stuff that could

vote onis putting off a it taken over by fiat chrysler. will be extended for a second day in paris. joining us is bloomberg's european transport reporter. when is this acquisition going to go ahead? what is taking so long? hui, matt.tt -- i have heard that discussions will resume because there is one possible roadblock, nissan's position. and nissan, renault have been together for over two decades. members, and board the question is will they support the deal? abstain --ejected or reject it or substate? -- abstain? france is renault's most powerful shareholder. so a good agreement from nissan is needed to move through. anna: we will wait for news on that later on. what with the outcome be of these businesses coming together. we did at factories closing, and if so where? >> absolutely. the french finance minister reiterated he will not guarantee jobs on factories and keeping an operational headquarters taste in paris -- based in paris. nissan has come out with similar demands. no factory closure no job cuts. is if there will be cuts in othe

the down fall and rest of boss carlos ghosn and more recently the failed attempt to merge with fiat chrysler. shareholders said they were angry and confused about the car maker's future and wanted more clarity about how it plans to recover choices on reports. it was rush hour adornos annual general meeting twice as many shareholders as last year attended the gathering. is good at all -- my expecting a strategy designed to put the brakes on the drop in share prices. they what nearly a hundred euros and then now it's around. fifty five at the heart of the shareholders gathering would losese future with its long time alliance partner nissan. sits boss carlos ghosn was arrested in november leaving the companies in a crisis relations have soured with nissan criticizing renenault's wait in the group. the french company owns 43%3% of me son when the japanese compan. 15% of renault. the situation worsened further when it was revealed two weeks ago that'll knoll had been negotiating a merger with fiat chrysler without informing me son. the plan eventuallyy failed. onon wednesday renault's newly appro

fiat chrysler's chariman john elkann has written to staff in a separate statement fiat chrysler saidr the deal. but france's finance minister has tried to downplay suggestions his government was to blame for the collapse "and finally, we remain open to any industrial consolidation opportunity, but once again, in calm, without rushing, in order to guarantee the industrial interests of renault and the french nation" michelle fleury is in new york. this was almost over before it began, really. but forthe this was almost over before it began, really. but for the two companies interested in the first place? the numbers told the story, if you look at it, a combined chrysler with them would've made the third biggest car—maker in the world and overtaking general motors and i think as we heard earlier, talking about the car market, you are seeing all of the car—makers looking at the businesses, trying to decide how do they correct and make sure they have they correct and make sure they have the right level of correction today while planning for the future —— production, driverless cars, elect

if he was a 50-50 combination under a -- fiat chrysler wants a 50-50 combination. should be prosecuted along with carlos ghosn for financial misconduct according to a report filing in tokyo. this falls under japanese laws that allow citizens to consider charges against an individual or organization. covers someceo alleged crimes. he denies wrongdoing. byomberg is being examined u.s. tax authorities and says the potential tax charges in a number of key markets could change the focus of the inquiries. this concerns the transaction of goods and services. ofs result in fines accused shifting and come to lower tax jurisdictions. taxhifting income to lower jurisdictions. for more on jay powell's comments, let's get the view from investment in your portfolio manager who helps oversee $50 billion in assets. we have seen investors looking back at 2016. we don't have a guest at the moment. a connection seems to have broken. but let's continue the discussion on what happened in the market. we have seen this huge rally rally andsuries yields rose for the first time in a week.

fiat chrysler at the moment in u.s. ading falling 3% in extended trade as we hear that fiat is set to withdraw its proposal from renault and we know the board meeting is over and that there's no decision. the thought that mexican tariffs as be avoided has vanished we hear that there might not be a deal so far. paul: let's get a little bit more on the markets now. stocks climbing on optimism tariffs on mexico might be avoided, but as mentioned, that changed. from melbourne is .n ig group market analyst interesting developer that there had been some optimism, but we now see s&p futures sliding a little. how much impact is this going to have on markets, that there was a failure to find a way forward with mexico? >> i think it will really drag on sentiment. i think the fundamentals of the matter have not changed in the last 48 hours, 72 hours or so, and what we've seen is a little bit of optimism and probably a little bit of short covering, if you will, on what was more or less a bit of positivity over the prospect of intere

clearer about this merger how nissan and renault are not getting along, how they tried to merge with fiat chryslert carlos is gone we are going to see what will happen. but it doesn‘t look like they are holding this alliance together. what does the future hold for you? what does it look like for you? it is very ha rd to it look like for you? it is very hard to know what is going to happen. i am very anxious, i‘m worried. this is shocking, it‘s tragic what is happening. i am hoping it will end one day, because it is hard to live this way. let's update you with other business news making headlines this morning. huawei is reportedly preparing for a 40- 60% huawei is reportedly preparing for a 40— 60% decline in international smartphone sales. the company is caught up in the us, china trade war. the chinese tech giant is exploring options, including pulling the latest model of its marquee overseas smartphone. argentina‘s main power supplier says that most of its grid is back up and running. the president, he has promised a full investigation into the outage. and, the latest trade numbers from the euro

fiat chrysler pulling away from the negotiating table.ts, and i don't have this directly, saying that they wanted to renegotiate some of the terms they had already brought to the table and thought were more or less agreed upon remember, they had been proposing what would have been a merger of equals, 50/50 ownership. ownership of 40% of nissan certainly figured into this, french company wanting nissan to be in favor not just neutral it's over. would have created the world's third largest automaker. >> is it over? they said currently in the release. >> it's not over till it's over. right now it's over. >> did you see my conversation with carol gohsn yesterday >> i saw part of it. >> thought it was a conspiracy orchestrated by nissan, french company, japanese government they wanted fiat/renault not nissan. >> did she have any proof to offer us >> no. that's what their defense is going to be. she couldn't get too much into it he's still in pretrial and can't interfere with his legal team. they're pretty convinced that's the story. >>> costco

analysis from the wall street journal: how fiat chrysler's proposed merger with renault crashed.ion of cold financial logic with politics and pride. "the french felt rushed. the japanese felt betrayed. the italians were frustrated" and wired has been at an amazon conference where it found the world's richest man in bullish mood. amazon on will get bigger despite all sorts of probes into the company. and don't forget, let is know what you are spotting online, use the hashtag #bbcthebriefing. that's it for the business briefing this hour. a quick look at the markets before we go. you can see this is what is going on in the asian section. investors not sure what is going on at the moment. brent crude in a bear market for oil, falling more than 20% since its peak in april. plenty more coming up a little bit later. see you soon. labour has narrowly won the peterborough by—election, denying the new brexit party the chance to get its first mp. nigel farage's party lost by just 683 votes, pushing the conservatives into third place. the liberal democrats were fourth. iain watson has the d

the fiat chrysler managing sorry catapulted.rcoming resistance from the french government which owns a 50% state in the firm. this in is crucially an alliance partner. —— nissan but since the architect was arrested in november with financial misconduct charges. there will be a vote on whether or not he should get last year is a bonus so watch out for the developments on renault. looking at the markets... investors turn their focus to us— china trade tensions. and the us— mexican deal. thank you so much for investing your time with us. sport today coming up next with all the results of the women's world cup. this is bbc news. the top stories this hour. protesters are gathering in hong kong ahead of a second reading of a controversial extradition bill. at least 19 people have been killed and thousands more left stranded after record rainfall hits southern china she's the longest serving cast member in the world's longest—running radio drama and this week the actress june spencer, who plays peggy woolley in the archers, turns 100.

france says it will back the proposed merger of renault and fiat chrysler. a board seat, and local headquarters. they made again today to consider. it's a be she is in talks to buy bombardier's aircraft program but nothing has been decided yet. a deal could be announced in the middle of the month. producednal jets once the bulk of bombardier's revenue. melinda gates is speaking out against inequality in the u.s. she has teamed up with warren buffett to attack the problem, melinda gates speaking exclusively with david rubenstein. >> we believe we should not have this in equity that exists in the united states. we need to do something about that. philanthropy, with the government, with the private sector, that set of partnerships in that ecosystem can do the rest for the world. viviana: you can watch that interview tonight on "the david p.m. onin show" at 9:00 bloomberg tv. with us are max kettner and david page. we talked about the fed and possible repricing of treasuries. this is a chart that looks at fed fund futures. it shows the fed cut is gaining momentu

it's being reported that fiat chrysler is proposing a special dividend and strongerjob guarantees asto persuade the french government to back its proposed merger with renault. the plan would also see the combined compa ny‘s operations headquartered in france and the french state granted a seat on its board. more trouble for boeing. the us federal aviation administration says that more than 300 737 max and ng jets may contain improperly manufactured parts that need replacing. all 737 max jets were grounded after two of the aircraft suffered fatal crashes in the space of five months. the first british airways flight to pakistan in more that a decade has taken off from heathrow. ba halted flights in 2008 after more than 50 people were killed ina bombing at a hotel in islamabad. it's the only western airline flying to pakistan. have you ever been tempted to ditch the dayjob and turn your passion into a business? converting that great idea into a great money maker can be quite a journey, especially if you're young and inexperienced. we caught up with one londoner who started his business

it is after they failed to reach an agreement on the proposal —— fiat—chrysler.set to continue ford has said it won't comment on the closure of the factory, which employs 1700 workers. breaking the glass ceiling in business leadership is something women worldwide continue to struggle with, and the challenges go beyond the corporate world. impacting other crucial areas of business such as supply chains. to look at these issues, we caught up with elizabeth vasquez, from a company which is aiming to bring together a global network of suppliers run by women. the corporations we work with, these are the largest corporations in the world, out of all of their spend on products and services, only 1% of us is with women—owned businesses, so we have an opportunity to find these women—owned businesses around the world, in 115 countries, offering every type of product and service you can possibly imagine. and to make the invisible visible, to make it easierfor buyers make the invisible visible, to make it easier for buyers to go into a database it easier for buyers to go int

the comments for the collapse of the merger discussions with fiat chrysler.lks to buy thomas cook's tour is an operating visit. -- business. ony're working with jpmorgan the offer. the discussions are at an early stage. their arctic thomas cook's biggest shareholder. they're part of a wider conglomerate like includes and churches from insurance -- businesses like insurance and pharmaceutical. paul: united technologies buying raytheon in an all stock deal that expands their presence in the aerospace industry. entity will be called raytheon technologies with $64 billion in sales. ony have been focused aerospace after spending office carrier climate control and other units. just ahead, pressure grows on hong kong after up to one million people protested in exhibition law. clashes with police broke out there. all the details coming up next. this is bloomberg. [laughter] -- ♪ >> this is "daybreak: asia. " we start with the g20 finance chiefs who have agreed to water down their statement, cutting language that would of called for a pressing need to resolve trade te

. >> just this year, psa is said to have been in talks with fiat chrysler and jaguar-land rover. >> beingmay not help the maneuverability of the company. you have to be agile. if you do not change, you disappear. you don't want to be bigger, you want to be compact and agile. very darwinian. on the other side, if you are a significant change in regulations, that imposes on you. very significant investments which will be a burden for your midterm plant and profitability. that may be a reason you would like to share the burden with other companies. sharing the burden of r&d may be the reason on the other side. we are as you mentioned too small to have the leisure of not considering opportunities. that would be counterproductive. yes, we are open. we are not targeting any specific company or entity. just because we have a strong balance sheet, we are highly profitable. we are developing our autonomous technology. why should we look for that as a simple goal? it is not a goal, it is an opportunity. if it comes on the table. >> in the past five years, taveras with the turnarounds has resurrecte

this is of just slightly with rent out -- renault shares dependent on a merger from fiat chrysler.utomakers had better-than-expected u.s. sales figures. anchor: the french government plans to phase out the sale of gasoline and diesel powered cars by 28. that is part of the -- by 2040. that is part off t the energy transition plan. brian: some say that it puts 160,00000 jobs at risk. governments want the to go faster and target 2030. it is hard to imagine roads without exhaust fumes polluting the air but that is the plan. 98% run on petrol or diesel. the government says their days arare numbmbered andnd they wile phphased out by 2040. to developthem alternative ways of getting around. but 2040 seems a little difficult. >> it is too soon. there's not enouough time. reporter: it is a challenge for the car industry which employs 400,000 people. unions a are warning about lay f the head. areive people on average needed to build combustion powered vehicles. you need three for an electric vehicle. that is 40% fewer workers. reporter: environmental groups say the government should target 2

we know says it needs more time to consider a merger proposal from fiat chrysler. the french automaker's board is meeting again today to study options. it would create a world's third largest automaker by production with a market value of $40 billion. jeff bezos is heading to fifth avenue. the wall street journal reporting the amazon ceo is buying three apartments for just a cool $80 million. this is one of the richest deals in manhattan real estate. he's buying a penthouse and two units directly beneath it in a 1912 building that turned into a single family home. the three units are going to total more than 17,000 square feet. 12 bedrooms. that's what's happening now. lauren: nice. it's also nice what's going on on wall street after the second best day of the entire year and a 51 512 rally for the dow, thew is up again. the nasdaq is taggin nays nasda. google, facebook, amazon and apple all in the crosshairs of regulators. how this probe could affect the way you live your everyday life. and a sweet win for one man in north carolina, you will not believe how he won

we soft fiat chrysler try to take over renault -- we saw fiat chrysler try to take over renault.combining the two companies, rights -- right? >> there are a lot of advantages. focusing on the parts the customers do not care about. we are seeing similar things across the industry. bmw and daimler are working on cooperating. you can make a those parts together, save costs in areas where customers don't really care, and then still have the separate branding and a much happier antitrust regulator. matt: thanks very much for joining us. bloomberg's german auto reporter oliver. up next, we bring you some of the stocks on the move. including european tech companies after broadcom came out with a warning that her to the entire tech sector. this is bloomberg. ♪ matt: welcome back to "bloomberg markets." 40 minutes into the trading day and looking at declines across european equity indexes. american officials have released images they say show iran was involved in an attack on the tanker near the entrance to the persian gulf. one pair of incidents that have raised tensions over the past da

french automaker renault is now delaying a decision on the potential merger with fiat chrysler aftere to renault's board opposing the deal that the proposed $35 million rose, it rose t 13.33. box shares fell following last ght's results which showed slightly better than expected earnings a a full-year revenue outlook. the company blames longer than expected duration of closing deals with new larger clients and that comes with s longerre cycles. it fell more than 4% to 17.18. mattel and joining&p the 500 while mattel will join the s&p mid-cap 400nd the move will be effective before trading opens on friday. it fell a fraction, and mattel's stock jumped for the hello kitty brand rising % to 10.78. after the bell omsalesforce beat estimates thanks to an increase of customers to its flagship sales cloud business. the company also raised its full-year guidance and the stock initially rose in after hours trading and closed the rular session up 4% to 1150.81. >> the oil market managed to eke out a gain with the trade tensions and domestic crude settled at 53.49 a barrel after a month-longosi

ford, vw, gm and fiat chrysler all have factories in mexico. americans could pay $1,300 more per car if tariffs climb to 25% by october >> the only people that are going to pay them athreheugh tariffs the consumer's going to pay more. >> reporter: potentially affecting even more people than the trade war with china. mexico is america's second largest trading partner. among the top imports from mexico, vehicles, machinery, fuel, medical equipment as well as fruit, vegetables and alcoholic beverages. the u.s. chamber of commerce and national retail federation both warn tariffs would raise the cost of living for american families fear that corporate profits will take a hit pushed the stock market lower today but presidential adviser that var ro said it's not americans to pay the prices. >> no. >> importers pay for it. >> no. the governments of china and mexico will pay for it and the producers in mexico and china pay for this. >> reporter: most say that's not the case. companies will cover the tariffs raising prices meaning every day americans wil

merger deal with renault, this is after it failed to win the support of nissan for the deal —— fiat chrysleriage of fiat with renault. saying into your —— negotiations were interrupted once the government intervened. and arab news says iran may sell limited qualities of oilfor arab news says iran may sell limited qualities of oil for goods, iraq says the model is based on the food for oil deal. 11 people have died while trying to reach the summit of mount everest this year, making it the deadliest climbing season since 2015. nepalese authorities are being questioned over whether they are issuing too many permits. there is also an environmental impact. 11,000 kg of rubbish has been removed from the mountain. lina spent weeks collecting food wrappings, bottles of empty oxygen cylinders. shep is also recovered for bodies which were taken to base camp and flown to kathmandu. —— sherpas. a documentary maker about the 2014 avalanche says these concerns have existed for some time. it's become increasingly crowded on everest since 1996 and it gets worse every year. in addition to do many permits bei