the foxconn has been visiting india.defended accusations that his company did not give jobs to married women at its iphone assembly unit in the country. this story has been tracked for us and we are joined from mumbai. do you have background into the allegations and what has been said? this relates to _ and what has been said? this relates to a — and what has been said? this relates to a report _ and what has been said? this relates to a report by - and what has been said? ti 3 relates to a report by reuters where they alleged systematic discrimination by foxconn saying that the government preferred unmarried women over married women because they had fewer family responsibilities in this led to a massive amount of media backlash injune when the report came out. the centre of government even went forward and asked the state of tamil nadu where foxconn owns its factories to hold a detailed investigation and now on his maiden visit he wills come forward to counter some of those pr where he said there is absolutely no discri

you mentioned foxconn _ recording. you mentioned foxconn is _ recording.oving into i recording. you mentioned| foxconn is moving into the electric vehicle market which is interesting. what do you think about the tension is currently between both china and the us and china and europe when it comes to this market? is it an opportunistic move that may prove tricky going forward? , , �* , that may prove tricky going forward? , , �*, ., forward? definitely, it's a chou forward? definitely, it's a choppy ride _ forward? definitely, it's a choppy ride and - forward? definitely, it's a choppy ride and different| choppy ride and different economic actors are always impacting the market. this is definitely a period where a lot of analysts are leaning on and looking at data very carefully. paul armstrong, thank you and we will look out for the foxconn numbers when we do finally get them. staying on the subject of smartphones. over in india, the smartphone market grew by 7% year on year in the second quarter of this year, with chinese brands dominating the market once

the taiwanese tech manufacturer foxconn is cashing in on the ai boom.but chances are they've made some of your gadgets. they build things on behalf of apple, google, sony and nintendo. second quarter net profits are up by 6% thanks to strong ai server demand — foxconn described it as "strong growth momentum" from the ai technology boom. let's speak to the tech experts. well, folks can't make lots of different things. let's talk about what these ai servers are. what are they and who is behind them? thea;r they and who is behind them? they have leaned — they and who is behind them? they have leaned into _ they and who is behind them? tue: have leaned into this they and who is behind them? tta: have leaned into this massively they and who is behind them? "tt21: have leaned into this massively as they and who is behind them? tt21 have leaned into this massively as a company. in order to do anything with al, either build or make the ai models and then run all the functions like facial recognition, other kinds of technology, you need really powerful specialis

apple supplier, foxconn, reported stronger—than—expected quarterly earnings. taiwanese company's net profit rose 6% to over a billion dollars. the company attributed much of that success to the artificial intelligence wave, where it currenty controls 40% of the global ai server market. foxconn expects the technology will be a major revenue stream in the future. here in south east asia, thailand's constitutional court voted five to four to remove prime minister srettha thavisin from office. the court's ruling is final and cannot be appealed. ex—senators, appointed by the former military government, filed a complaint that mr srettha gave a cabinet post to a former lawyer, who was once jailed. parliament will now need to choose a new leader, potentially creating political and economic uncertainties, as kirida paopichit explained. no one expected the court ruling to be as it was yesterday, so the economic prospects in thailand will probably look a little bleaker, because there is concern around who will be the new prime minister, and of course if the new prime min

foxconn was up overseas. ashley: all right.e owner of op pop tarts and pringles, two of the major food groups. up today on a possible sale. who wants to buy 'em? lauren: mars. mars is buying them for $36 billion cash. this is the biggest deal in packaged food. i i am afraid if to go to the grocery store because mars will own the candy aisle, the cookie aisle, the snack aisle. you're putting m&ms, snickers, skittles, let's see, pringles all under one roof here. they're doubling up. consumers are trading down, right, to private labels, and they're also buying less because many of us are on weight loss drugs, right? if so those are some of, some of the environment that the snack companies are playing in. so, obviously, this is good news. the deal values kehlanova at $83 a share. ashley: suddenly, i'm hungry. [laughter] flutter is up, wow, more than 11. good report, i assume. lauren: yeah. they're the parent of fan duel. they beat earnings expectations in the past quarter and they're raising for the year. their average monthly play

foxconn would not confirm that to cnbc.rts all is fine, arguing the next china isn't india but will still be china. but here, people remain worried. the street food seller caters to foxconn workers. there are far fewer customers, she says, compared to four or five years ago, my revenue is down 50%. we would have to send our best workers to those countries to train them and teach our craftsmanship to foreigners, says this foxconn job applicant. i don't like the sound of that. even though china's developing new industries, such as evs, traditional manufacturing is still an immensely important source of employment and income for millions of people here. and that's why the chinese government is very sensitive and concerned about international companies diversifying their supply chains. guys? >> yeah, it kind of reminds me of industry towns in the u.s. like houston or san francisco. is there any sense of diversifying just the types of businesses in that city that would kind of help some of the swings and the concerns that people

the street food seller caters to foxconn workers. there are far fewer customers, she says, compared to four or five years ago, my revenue is down 50%. >> we would have to send our best workers to those countries to train them and teach our craftsmanship to foreigners. i don't like the sound of that. >> reporter: even though china is developing new industries like evs, traditional manufacturing is still a very important source of employment and income for millions of people here. that's why the chinese government is so worried, dei, about american companies diversifying their supply chains. >> i was reading about some of those other industries that foxconn is building a manufacturing hub for evs there, and what is it about that city that attracts so much of the manufacturing? >> reporter: well, it's seen as a place that has a very competitive wage environment. in fact, when you look at china's wages versus say india's wages, the lowest paid foxconn worker in china is still paid about 50% more than in india. so wages are a big componen

. >>> also today folks at foxconn will enjoy a profit. we'll discuss the state of ai and tech with one of europe's larg largest. that's coming up this hour. >>> we take you straight to this hour. the stoxx 600 in europe are up by around 3% as it stands right now. the leak from wall street was positive. we saw the softer inflation print helping support the case that the fed is ultimately on track to move on interest rates as soon as next month. so that's giving hope to investors on the trajectory which is supporting the market right here, right now. investors are counting down and market investors are looking at the numbers from ubs and market drivers as well. let's take a deeper dive into it. here's how the sectors are looking right here as of now. london's ftse up by 1.4% and certainly among one of the top gainers today. this comes as we see uk inflation up less than expected in july. uk inflation rising 2.2% in july after two moijts at the bank of england's 2% target. interestingly deutsche bank out with a note this hour saying the odds

while some of that is true, and it did help prime minister modi's case thatjust two days ago, foxconnre in india to discuss investment opportunities here in the country. you also have other big tech players like google, meta and apple looking at growth opportunities in the country. on a separate note, prime minister modi also highlighted the country's renewable energy ambitions as well and its efforts to reduce reliance on fossil fuels. despite this glowing report card, it is also important to highlight a lot of the challenges that india's economy is facing. on renewable energy front, it is important to say that india is still heavily reliant on coal for its electricity needs. and remains the world's third largest emitter. on paper, india remains one of the fastest growing economies. but challenges like unemployment among the educated indian youth, as well as sluggish private consumption remain big challenges to the indian economy. so while progress has been made in many sectors, there are also several areas that the government still needs to focus on. new european union tariffs on ch

we mentioned the print and the guidance out of foxconn today. generally helping tech sentiment.d nvidia the top four. that opening bell is coming up in four minutes. don't go anywhere. >> announcer: the opening bell is brought to you by nuveen, a leader in income, alternatives, and responsible investing. >>> all right, 30-second "mad dash," opening bell. >> i just want to point out, i talked about the housing poll. wolf comes out with a piece downgrading pulte home. florida recent inventory run, below levels nationally but look at this. it's at 4.6 months, greater than 2.8 months. >> inventory going up in the florida market. >> that's what you're -- if you're in that market, you're saying, oh my god, i think i might have missed the top. that's how you get a real top. >> let's get the opening bell here in the cnbc realtime exchange. at the big board, it is realty income. at the nasdaq, it is microsoft and their summer mentorship program. >> i was recommending -- carl, a lot of our viewers watch the show, and they want monthly income. realty income has a monthly dividend. >> bread

and cashing in on the ai boom — profits rise at foxconn, the world's largest maker of iphones.s that the pace of price rises is accelerating — something which had been forecast and factored in, but the number is still lower than expected. consumer price inflation rate forjuly has come in at 2.2%. that's higher than the 2% level it was at during may and june. that number is precisely the bank of england's target for a healthy economy. but the figure forjuly is still lower than many observers had forecast. where does that leave the state of the economy and the likely path of interest rate cuts? joining me now is jackie bowie — head of europe at chatham financial. thank you forjoining us. it is a rise in inflation but not by as much as some had expected. is it cause for alarm? as some had expected. is it cause foralarm? it as some had expected. is it cause for alarm?— for alarm? it doesn't seem to be. this low price _ for alarm? it doesn't seem to be. this low price you _ for alarm? it doesn't seem to be. this low price you have _ for alarm? it doesn't seem to be. this low price y

cashing in on the ai boom: the world's largest maker of iphones, foxconn, is set to reveal huge profits leaders have refused to restart talks following their decision to down tools at the world's largest copper mine in chile. and we take you to indonesia's new capital city — built from scratch in the borneo rainforest. but is this hugely ambitious project ready to welcome residents? live from london, this is business today. i'm sally bundock. you got the sense from those headlines does a lot to fit in. let's get started. it's a big day for inflation data — both the uk and us will publish the latest on how much prices have risen in the month ofjuly. this data will be watched very closely by both traders and policy makers for any signs their economies are on the right track. so let's take a look at what we are expecting. in the uk, economists expect a rise of 2.3% — that's slightly higher than the steady 2% inflation rate in may and june, and would be a setback

while some of that is true and it did help prime minister's moody's case that foxconn chief was hereve other bigoted players like apple, meta, and google looking at opportunities in the country. in a separate note, he highlighted the renewable energy ambitions as well and its efforts to reduce reliance on fossil fuels. despite this glowing report card, it is important to highlight a lot of the challenges that the indian economy is facing. on the renewable energy front it is important to say that india is still heavily reliant on goal for its electricity needs and remains the world's third—largest emitter. on paper, india remains one of the fastest—growing economies but like unemployment among the educated indian youth as well as sluggish private consumption remain big challenges to the indian economy. so what progress has been made in many sectors there are also several areas that the government still needs to focus on. are a mortgagee there. —— arunoday mukharji there. around the world and across the uk, this is bbc news. with the weekend here, many of us are dreaming ofjetting off

>> certainly foxconn last week.hey came out and said things are going really well and the rest of their year looks great and a lot of that is being driven by a.i. servers. they are nvidia's largest partner on the blackwell chips. beyond that, you go back a bit. super micron. they had a tough quarter, but sales why great and guidance was great. >> you mentioned the blackwell chip. there's been concern about that being dedelayed. does that matter to the overall growth narrative for nvidia? >> i think in the near term, it certainly doesn't. if i look at last quarter and this quarter coming, i don't think blackwell would be a large revenue moving forward. moving forward, they have to make sure they execute and make sure delays are minor versus major. you certainly don't want to see a repeated problem, but they executed so well. if they are on track from here, i don't think it matters. >> when you look at the broader land l land landscape for the chips, i see the green flags in some of the other companies in the space. c

that weighed on foxconn, the supplying out of taiwan and tsmc.hat fed into how the other indices in asia fared. you saw the kospi with significant losses. not as deep as the market captured everyone's attention today. that is the japanese nikkei 225 which plunged more than 2%. it is a lot more complicated than the yen strengthening that weighed on exports injapan. the yen benefitted from the safe haven play which led to the yen flexing this friday and there are concerns that the stronger yen will weigh on profits. keep in mind, toyota and mitsubishi said in the recent report cards that they saw the significant bump ups. the yen is a favorite carry trade and you are seeing a lot of people who have gone short of the yen in line of the positions and the markets are the biggest losers in asia. silvia, back to you. i hope europe is faring better than we were. >> thank you, jp. >>> let's continue to look at what is happening in the chip sector and the overall tech space. nvidia is moving lower in fr frankfurt trade. one of the probes first reported by

like foxconn. >> foxconn, by most estimates, has not even come close to meeting expectations. >> thiscam. he is not looking out for the residents. he is looking out for himself. >> you know what trump delivers? $2 trillion in tax cuts focused on his billionaire buddies and big corporations. i'm basically angry billionaires don't pay their share of the load. trump talked about massive gains in infrastructure. what a joke. >> infrastructure is easiest of all. we are going to get the infrastructure going. >> trump was too incompetent to get it done. who is he looking out for? not us. not my family. know who got it done cap joe biden and kamala harris. infrastructure is just a fancy word for jobs, not just union workers but for everyone. communities are starting to thrive again. i wish it was faster, but prices are easing. kamala harris helped deliver the largest job growth in american history. wages are higher. manufacturing is booming. we are building roads, bridges, airports again. that's a fact. and we have health care. vb harris: when our middle class is strong, america is strong. >>

on the day of taiwan's recent national election created an ai generated audio file of jerry, the foxconn ceo who had been previously running in the election, making it look like he was endorsing another candidate in the election. same actor, two very different targets. very concerning. it is good to see the private sector community that is managing social media share that kind of information because it helps us understand what to expect in the environment. ms. franz: i guess i will start by saying that secretary blinken spoke last year at the artificial intelligence for accelerating progress on sustainable development event in new york city. very state department thing to say. but there he emphasized a need for the u.s. to lead in applied ai for national security and that is exactly to david's point. from the state department, i look at it both how we as an organization can or should be using it for our own productivity and our own progress. but also, how we can work with our international counterparts to set principles for the development, deployment, and leveraging of emerging technolo

foxconn will begin assembling the devices within weeks of their global launch in the fall.s is a story we have been tracking for quite a while. de-risking supply chain. it is a long-winded way of saying, moving out of china. lisa: tim cook, the biggest diplomat between the united states and china, talking about the importance of china both with risk act to the consumer base and the production base, but just quietly moving away from production in the region. in the consumer is also pushing back against them. and they also build some sort of consumer base in india that has traditionally gone for a lower-prized type of phone? these are some of the questions that have been plaguing apple. this move seems to suggest they are starting to shift. annmarie: although it is tiny still. the vast majority of these phones are going to be made in china. but whether you talk to republicans or democrats, they are still talking about friend-ensuring. because the political salvos between washington and beijing are unnerving see suites. jonathan: tim cook is moving things around without making

so we talked about the wisconsin event that he did a week ago where he went foxconn where trump had promised jobs and didn't deliver on the jobs and i thought that was like a good example, a kind of event that will break through right. but we think about it in terms of how we can kind bring to light things that aren't always covered but not think of it as it's our responsibility to make sure people understand the eighth page of the ira. yeah because not what viewers. are necessarily looking for right. and we'll take a question for the audience here. he's talking about your first white house briefing. how did you prepare and did anything happen that you didn't expect? oh, god, i'm nervous for you. yes, i was really nervous first of all, because of the insurrection and it was just couple of weeks after that, most of washington on lockdown. we actually had to meet at the national zoo to go to the white house. that which is kind of crazy we also had double masks on because it was covid i had this big binder. i was rolling through the stuff i tell the story in the book about how the night before

like foxconn. >> foxconn, by most estimates, has not even come close to meeting expectations. >> this$2 trillion in tax cuts focused on his billionaire buddies and big corporations. i'm basically angry billionaires don't pay their share of the load. trump talked about massive gains in infrastructure. what a joke. >> infrastructure is easiest of all. we are going to get the infrastructure going. >> trump was too incompetent to get it done. who is he looking out for? not us. not my family. know who got it done cap joe biden and kamala harris. infrastructure is just a fancy word for jobs, not just union workers but for everyone. communities are starting to thrive again. i wish it was faster, but prices are easing. kamala harris helped deliver the largest job growth in american history. wages are higher. manufacturing is booming. we are building roads, bridges, airports again. that's a fact. and we have health care. vb harris: when our middle class is strong, america is strong. >> our goal is to --kamala's goal is to rebuild the middle class for families like mine. >> please welcome the 4

plus a pickup in shipments of the iphone in china have reversed a slump in recent months, a boon for foxconn still do have inflation above target but i think inflation risks have really dissipated. the fed should be really comfortable cutting rates. >> that's coming up next. this is "bloomberg surveillance." ♪ where ya headed? susan: where am i headed? am i just gonna take what the markets gives me? no. i can do some research. ya know, that's backed by j.p. morgan's leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management ♪♪ relax into a caribbean state of mind. visit sandals.com or call 1-800-sandals. why do couples choose a sleep number smart bed? i need it a little cool and i need it a lot of cool. we're both cool like that. sleep number does that. actively cools and warms on each side. during our biggest sale of the year, save 50% on the sleep number limited edition smart bed and free delivery when you add any base. ♪ >> we are seeing a market that is in deep wait for that cpi threat coming up in about 45 minutes time. you d