. >> glaxosmithkline posted its earnings with sales falling 4%.ed by bribery allegations in its chinese operations. perhaps some medicine will help nurse it back to health. >>> welcome back to "gmt." let's return now to our top story, the malaysia airlines crash in ukraine. six days after it was shot down, there growing criticism over why mh-17 was flying over a widely reported conflict zone in the first place. the british pilots association says the way risky air routes is simply not good enough. virgin atlantic had a pat london bound airline flying over ukraine when the mh-17 was brought down, a singapore airlines jet was flying ahead of it. this disaster is really raising questions among passengers over who is responsible for the safety of global flight paths. >> reporter: it is one of the world's busiest passenger air routes, 60 to 80 million people fly between asia and europe each year. and in the past, over ukraine is one of the fastest routes. not only malaysia airlines, but many carriers including singapore airlines, lufthansa, thai air wa

the british drugmaker, glaxosmithkline, has cut its firm'sar forecast as the second-quarter profits were hit by currency moves and lower sales. earnings were down for more than a billion pounds last year to 654 million pounds, around 827 million euros. gsk says sales have taken a hit in china as they face a per -- corruption probe there. a 52% jump in earnings for boeing during the second quarter. they posted a profit for the april to june period. they were lifted by increased deliver these -- deliveries of passenger jets. let's show you how the markets are faring. in europe, the main indices closed with gains. microchip maker were down. 40 trading higher by 0.16%. was also100 in london higher, but only marginally so. the frankfurt dax was higher by 2/10 of 1%. let's talk you through the american markets this hour. it is mainly positive over on , withtreet, this session the dow jones industrial average lagging a little bit behind the other two main indices, down about 0.15% this hour. if follows -- it follows strong earnings from boeing and good figures from pepsico and apple. the nasdaq

is it because i'm glaxosmithkline? ~ black? my name is felicia jones. i am one of the new rising leaders in seiu 10 21 and we are here to address the wealth and disparities of blacks in the city and county of san francisco ~. we stand in solidarity with brothers against guns, the black coalition on aids. sojourner truth, [speaker not understood], ex offender program, healing for our land and nationses, policy link of oakland, california, the tungan community, the samoan communities, san francisco police department, officers for justice and we are here to say enough is enough. i've heard nice thing from the board of supervisors today in regards to the plight of black and brown people of san francisco, but the fact is that san francisco city and county government is participating in gentrification. gentrification, which is the definition of a profit-driven racial and class reconfiguration of urban working class and communities of color that have suffered from a history of disinvestment and abandonment. gentrification is a public health issue. gentrificati

the chief executive of glaxosmithkline reportedly open to a possible spinoff of theumer health care unitdrug company has no such plans in the near term. a strong case still exist to keep them attached to the broader company. the german automotive supplier is said to be working with citigroup on an initial public offering later this year. animal sales of over 5 billion euros could make it one of the largest ipos in germany this year. one stock we continue to watch this morning is ryanair. the carrier boosted its profit. the chief officer howard miller to bloomberg a little earlier. >> a strong summer with a strong q1, but we don't have a huge amount of bookings in place. it's difficult to predict. difficult timea last year. of capacity as we increase our schedules. >> are you being conservative? >> that is our style. >> it's probably a little below their range. last year we had a difficult time. this is the airline business. you cannot read it with certainty, so we must be cautious. >> how worried must investors be after easy jet was hit quite hard? the capacity is expanding. we are unabl

glaxosmithkline is open to a possible spinoff. whittier says strong synergy still exists with the over-the-counter drugs. hsbc holdingsand have been sued for allegedly rigging the silver market. neither hsbc or deutsche bank will comment on this. this is 7:46. >> you name it. the level of profitability is going to expand. the u.k. company has been heard by the strength of the british pound once you bring back sales from north america. half of the sales come from byope. they have been hurt foreign currencies weakening in asia. as well. we are expecting first-half sales to drop a little bit. we are seeing adjusted net income better than expected. the key take away is the pharmaceutical unit. this is all about opiates. to be abouting heroin. they made a treatment to help addicts. strong.ry got very strong market share. competitors are starting to weaken in terms of sales. >> they are going to farm out pharma. that is the take away. >> they are going to be selling thees to another ipo in next month. >> it has got a big share of the ma

glaxosmithkline reports later. joining us is sam. welcome back. you and i have been talking about this. this is about guidance. that's going to be the big one. >> i think everyone is going to be looking at the events of the last few months in terms of the strength of the sterling. the issues with regards to the launch of their new products and how quickly they have been able to bring back consumer products, how that might push them in terms of providing their guidance. >> on consolidation side we had a lot of consolidation. premium formassive the company. are we to see more consolidation in the sector? doesn't mean they are going to have to pay bigger prices to do it? >> excellent question. at the end of the day this seems to be the time a lot of companies are getting involved. a lot of them are driven by tax issues. we have even had a little deal that involved a swiss-based company. the reality is companies are continuing to look at assets that can plug into their pipelines. there was one specifically for that reason. that seems to have been driv

glaxosmithkline is facing allegations that it bribed chinese doctors and officials to use its products. >>> christian groups in the eastern country say they will guard their churches against an official anti-religious campaign. local governments are forcebly removing crosses from the tops of church or in some up stances destroying them all together. but they say the size. >> reporter: praying for the protection of the cross on top of their church from the local authorities. just to be church they also have ton of red sox and two cop tap tapers brocking the front gate. scores of people young an wold sleep in the church around the clock. >> i don't know why we're a threat to them. we love our country. we love our church. we follow the law. we have freedom of religion. >> with the churches nearby there is evidence of crosses being removed for being to conspicuous. the authorities denial gas stations. christians here suspect they're being targeted because their religion itself is becoming too big. [♪ singing ] >> reporter: christians make up 15% of the population in this part of the provin

the pharmaceutical giant glaxosmithkline will open its books in a pretty tough quarter for the company since news broke of the bribery scandal that saw senior executives in china arrested. as a result, the firm's share price has been on the move. currently it is 8% lower than it was this time last year. we'll bring you those numbers later on "bbc world news." >>> and another good quarter for apple, a 12% gain on profits from this time last year. they raked in $7.8 billion in the three months end in june. profits were driven higher by strong iphone sales with 35 million being sold in the quarter. that's up 13%. >>> time for a look now at the markets before we go. and we look at what is happening in europe, well, it has been a pretty difficult time of late, but at the moment the markets are looking quite positive. the london market up slightly, a slew of quite strong results from new york are offsetting any worries about ukraine and the intensifying violence in gaza. back to you. >> thank you very much. >>> now, the biggest marine salvage operation of all time is coming to an end. the wr

check out glaxosmithkline, the stock is nears session lows after the british-based pharma company lowered014 outlook on news. sales slid a weaker than expected 13%, this as the long drugs struggled in the u.s. and a strong british pound hurt growth. just off their session lows, sara. back over to you. >> always about currencies. on the home front mortgage application are on the rise, but there's still underlying concerns. diana olick is in washington. >> applications to refinance home loans rose 4% week to week. that drove the overall volume, but there's really nothing to write home about, because refinance volume is still down 41% from a year ago. remember, a year ago rates had already taken a big jump up. now, more important to watch is mortgage applications to buy a home. they were down 15% from a year ago right around a five-month low. cash buyers are all over this market. they made up 32% of june home sales, according to a report from the realtors out yet. the chief economist called that, quote, amazing. i might call it concerning, given that cash investors continue to leave the mark

the study was partially funded by drug maker glaxosmithkline in australia and published in the lancet>>> good news for men who are balding. there's new way to sort of turn back the hands of time. doctors in britain say they can now take hair from other parts of your body including your chest and back and put it on your head. but because body hair looks and feels so different, from the hair on your head, this wouldn't work well for men who are completely bald but the procedure has worked for thousands of men across the po pond. >> women put lot of time into getting ready for swimsuit season. we usually try and work out and eat the best we can, you know torque try and look gas as we can. this usually takes apparently somebody has counted this up 35 days to get into shape. researchers say, though, it's all gone within six. six days gone thanks to your holiday diet. changing your eating and drinkindrinking habits can cause stomach issues and bloating which is never fun. but, you know, got to try anyh anyhow. >>> absolutely. put in the effort. >> here's something nuts. the state of new jer

the inquiry has been promised full cooperation by the nuns and by glaxosmithkline, whose predecessorsan the trials. the one senior figure insists no babies were adopted or vaccinated without a mother's permission. >> we have staff, good staff, some of them are still with us, and i think it is sad that it has come to this. we give our lives to looking after the girls. and we're certainly not -- >> reporter: the inquiry has search and questions for church and state. the high mortality rates in the homes, and the location of dead infants' graves are two of the most poignant questions awaiting explanation. and as in other homes, only a small number of those who died have a marked grave. both church and state will find themselves in the dark during the commission of inquiry. but for the irish nation, there are also larger questions, for those who worked in institutions or in state bodies and didn't speak out. for the irish media, now so vigorous in its reporting of clerical abuse, but which for decades failed to hold power to account. there are questions for all who grew up in that ireland

the chief executive of glasgow -- glaxosmithkline. company has no such plans in the near term.uppliern automotive is said to be working with citigroup on an ipo later this month -- later this year. they could be the largest ipo in germany this year. a nine-month strategic review comes to a close. what does it reveal? find out. ♪ good morning, everybody. welcome back. we are live on bloomberg television, streaming on your tablet, your phone, it and bloomberg.com. raceop of the red bull air in poland. spectators. check this out. blood, the fairmount of -- a fair amount of blood rushing to your feet and that kind of a situation. it really is exactly like the disney films laying -- playing. ferro, take me away. >> a busy week. the fed decision on wednesday. losses friday, a mixed session in europe right now. daxtaxes that flat -- the is dead flat. asian equities saying mrh. .- meh it youu.s. and europe, will need some strong earnings. reportedmpanies that have beat. in europe, ryanair is the shining life -- the shining light. it is about the dollar. the dollar is just off of a mont

so they have to improve consumer health which is part of glaxosmithkline.will keep a foot in. so it is very important for them to continue growing and improving this business. it is what they have shown in the results with a 5% growth in consumer health. is accines we know that q1 weak quarter because you do not have all of the flu vaccines in there. as i said, really the focus today is alcon. we should see some pickup in the second half with the launch of an authorized generic version of a drug. >> what does it tell us that 32% of sales come from growth products? products they have bought since 2009 or that have patents that extend out to 2018. is that a good number or average number? what should we be looking for? >> yeah. it is definitely a good number. they have many blockbusters that have been launched since 2009. i think what may be is important to remind investors in the coming months is that the presentation of phase iii, which is potentially a new drug for data will be, the presented at the end of august in barcelona. that could be a key drug for n

sleuth and his wife are on trial in shanghai in connection with an investigation on behalf of glaxosmithklinen and his wife have been linked to a sex tape involving a former china boss as well as a corruption inquiry of what is written status drug maker. honey capital has something new on the menu. they have bought pizza express for $1.5 billion. chaink. founded pizza operates in 13 countries, including china. localsays it hopes knowledge will help accelerate growth in the chinese market. haveank has said to reached basic agreement to buy more than 50% stake in t-mobile u.s. through sprint, saying they will use cash and stocks to cover the deal. t-mobile and sprint are the third and fourth biggest mobile carriers and still need regular approval. apple says the location tracking function on the iphone cannot be used to identify users activities. that is following a report by china's cctv national broadcaster, claiming that the location tracker can collect data, lead to state secrets being revealed, and a lot of allegations. rosalind chin here to describe them all. >> cctv saying there could be

today we have boeing, glaxosmithkline, pepsi, north grumon norfolk southern, dow chemical.now, the ceos of delta and dow will both join us first here on cnbc interviews. we'll talk to them in just a little bit. after the close, we're going to hear from at&t, qualcomm, facebook among others. we're going to talk about expectations for the social networking giants. a bit in just a little bit later this hour. al,

we saw -- i tell you, some big cap drug companies, pfizer, glaxosmithkline -- >> all reporting this weekby the way. >> tide turned against these guys in terms of research. but i do believe that when you look at -- i interviewed st. jude med a fine company, sensing it's unfair in their own cohort. >> but they have to figure something out. i noted that small deal a few weeks ago, because it was this spin version, is what they call it asset dropdown, now two more times with mylan, the abbott labs subsid dears why potentially the hospira deal with danone. they're like, they don't feel great about. to generate enormous profits from the sale because you have anxious companies willing to do an inversion. >> did you respond to cuban's tweet, any company that does this, i'm selling your stock immediately. >> i'm responding the business is to try to get rich, one of the things i've thought about mark, i've known mark since the '80s, cubans wants people to be wealthy. one thing people cheer for cuban -- i believe that -- but cuban wants people to be wealthier. >> i'm a man of mark's, always have be

we're going to get boeing and glaxosmithkline as well.ot on this list, but we're also going to be getting results on wednesday from gilead sciences, maker of the controversial hep-c drug, and that's likely to impact the health care sector. big day for health care. thursday as well, we'll be back watching the consumer. that's the busiest day of the earnings season. 49 s&p 500 companies reporting. among them, caterpillar, starbucks and visa. and on friday, we're going to close out with xerox and stanley black & decker. overall a busy week for investors to digest and i think our squad will need 20 coffees to keep charged up for all of it, michelle. >> for sure. >> they'll be gearing up for that. thanks, bertha, very much. amazon next week. >> amazing. a lot to put on the screen. >> a lot to keep an eye on. >> 15 minutes to the closing bell. the dow jones industrial average off its highs, high now by about 112 points. the s&p and nasdaq also in positive territory. >>> in the wake of the malaysian air tragedy in ukraine, we want to know if it'

today we have boeing, glaxosmithkline, pepsi, north grumon norfolk southern, dow chemical. now, the ceos of delta and dow will both join us first here on cnbc interviews. we'll talk to them in just a little bit. after the close, we're going to hear from at&t, qualcomm, facebook among others. we're going to talk about expectations for the social networking giants. a bit in just a little bit later this hour. also, we are watching shares of microsoft this morning, the company beating on the.top line, but missing on the bottom line. microsoft telling investors it ames to get its nokia unit breaking even in two years. we will have more on that in just a couple of minutes. >>> as for apple, revenues fell a bit short. asia, a key part of the story, ceo tim cook told analysts the company's performance in china was honestly surprising and we will have more on the street's reaction to apple in just a kup couple minutes. in the meantime, i'm going to send it over to kayla. >> a lot of moving parts in that. we are watching a number of other stocks today. first up, video game publisher

the biggest players are some of the biggest names in pharma, pfizer, j&j, glaxosmithkline, roche, jenilly and merck. a couple were working in the space earlier and had the big blowups. you probably remember from 2012 when eli lilly had the phase three trial that failed. lilly is still trying to work in the space. they're really trying to bring these drugs to market and this weekend should give us a glimpse at what the latest research is, where we stand. but even the drugs that are on the market now, this forest labs drug nemenda was the last one approved. it just works on the symptoms rather than the underlying cause. so there's a huge need here. >> you think about with cancer you think about there's life years, people that die at 90 that finally get cancer, there's that. and with alzheimer's, if you get this when you're 50 or early onset alzheimer's, you're talking about 30 years of being cared for, and think about the cost to society and to families. and then there's the notion where dementia, there's all kinds of different dementia. sooner or later the brain just seems to age like