mark: acquisitions could be on the horizon for glencore. the mining company is flashing its debt as it gears up to shock the deal. this is bloomberg. said? get your fit off the jeffersonian table. vonnie: live from world headquarters in london, i'm vonnie quinn. mark: i'm mark barton. this is bloomberg television. let's check in. emma: a warning north korea not to fire missiles towards the u.s. territory of guam. south korea said that would lead to a strong response from the u.s.-south korea alliance. japan said it would be legal for them to intercept the missiles. north korea warned it may file four missiles that could land as close as 19 miles from guam. president trump used twit tore rip senate republican leader mitch mcconnell again over the failure to repeal obamacare. the president tweeted, can you believe mitch mcconnell who screamed repeal and replace in seven years couldn't get it done. that came after mcconnell suggested the president was a political novice who expects faster action from republicans than they can deliver. ford cla

those are the top lines coming mv.m o we have to glencore numbers, this is our live blog on glencore.would appear there focusing on the debt limit, falling at the end of 2016. that there hitting at extra payments to shareholders but there is no change in the unit in policy. they are in the process of reforming that company. let's focus on the federal reserve. this time the federal reserve bank of st. louis fed president saying failing to get the 2% inflation target erodes their credibility. he spoke to bloomberg in an exclusive interview. i think they've been surprised by inflation coming into the downside during the amounts,d just by tiny or by large amount compared to the progress we've made through 2015 and 2016. bullardhat was james speaking with bloomberg. , and he a short snippet add up overisses time and the market begins to 2% inflation target is enough. it's the greatest conundrum of them all. lena: the inflation normalization seems to be lagging behind the growth normalization story. overall, markets are prepared for a level that still very much in the pipeline. littleear th

glencore out with numbers as well. pay attention to that. matt.t: yeah, i'm looking at a chart that i showed you yesterday. it is btv 7722. and it shows when investors flock to safe havens what happens. some of this all until it he comes back to life. this is global currency volatility. the gold is obviously gold. the white is the yen. you're watching gold today up $1.35, not really breaking out of a range. treasury yields are not that much lower either. guy: let us take a look at where we stand with the ftse 100. opening stocks are as expected. 7493 is the opening price. 8583. cac 40 down by .1%. the french will be focused on what patrick is up to. you can see what the stoxx 600 is doing, down by around .1%. london is underperforming. i will show you the mov screen in a moment. you will see an awful lot of ex-dividend on there. let us get more details. nejra cehic. nejra: even though we are talking about money moving into safe havens on geopolitical risk, the bond markets are study. moving ayield, not whole lot. moving ever so slightly higher. th

that's another big base metal that glencore is involved in mining.num is at its highest since november of 2014. this is when china was looking to shut down some of those illegal mines. it comes commodities, back down to supply and demand dynamic. nejra: i've been talking about the hedge fund manager all throughout the show, starting to short metal stocks in anticipation of a slowdown in china. is he the only one concerned about metals? emma: there has to be someone on the other side of this. indexntioned the lmex there that is made quite a bit of gains so far this year. some people are saying that bullish year, even though prices look high, will be range bound at the top end of those prices. other investors are saying, you know what? china growth a year from now will be a lot slower than it is today, and we are getting a little bit nervous about the skyhigh prices we are seeing and some of these metals coming off of china demand. vonnie: taylor riggs, thank you. turning now to retail and another stock where shares higher, up more than 3%, target boos

that is exactly what glencore has done.fter the event, we have seen commodity prices recovered. is this too conservative? sure they have paid out the bigger dividend in 2017? i think they are doing the right thing. they have certainly spoken about the potential for this could be next year in 2018 once they have secured the current appraisals. >> there is a signal the company is looking at deals.it has already been on the acquisitions trail . what forthcoming would you suggest? this is a country that has grown acquisitive leanne has always been opportunistic. if you look at what they have done, they have been in a commodity that a lot of people have stayed away from, a lot of the big mining companies have looked to shed assets there. the deal going on right now is that.nother yo yet another exaf i think they will be looking there. as i say, valuations in that sector alone. if you look in the ag trading space and the discussion around that, no secret they have been looking there. a very obvious place for them to look to deplo

glencore, what a turnaround.go to our stewart wallace in london on the bounceback of glencore. tell us why glencore turned around. was this a shock to the commodity community? >> i think what the shock was was that there trading business did not form as well as it could have. you assumed they would be on the winning side of the trade, then they made some bad calls on coal in particular. i think they are turning around. look at the equity prices at the depth of the crisis, it was almost pricing and collapse. they have done the right things. debt.ave paid down their they have suspended their dividend. they have held off m&a. we are not quite back to business as normal. but get the equity price. francine: it is amazing how they have changed in the last 3-4 years. what kind of m&a will they go after? >> they want agriculture in the u.s. they believe that is the next big prize for them. they have record harvest after record harvest, increasing food consumption around the world. that is a huge opportunity for them. fra

. >>> and glencore slashes debt and prepares for an m&a spree leaving investors waiting for increased payouts. >>> good morning, everyone it is thursday let's take a quick look at the stock 600 index. we are still lower extending yesterday's losses we are down by roughly 0.25% yesterday the dax and the cac losing all between the escalation of the u.s. and north korea let's have a look at the markets one by one what you'll see is that we're still deeply in the red across most of them the ftse 100 losing 2/3 of 1%. this is in part to we have a lot of the names in the trading index. and ae cac off by 40 points. this is the picture. utilities and health care doing a little bit better. we're still waiting for credential numbers they'll be out in half an hour's time basic resources down by 1% and glencore is a factor here. we'll get to that story in a bit. >>> let's get back to our top story. trump adviser says the u.s. is willing to, quote, use any appropriate measures against the north korean regime. the warning comes after pyongyang said it could be ready to announce a missile strike aga

sydney joining us from with context on glencore and noble.nd mortar department stores see disappointing sales. is there room for optimism? our guest says maybe. this is bloomberg. ♪ yvonne: we are counting you down to asia's major market opens. at the korean market will be the one to watch, given the escalation between the u.s. and north korea, and the ratcheting up of language from president trump. mountain day in japan, no trading in tokyo today. also no treasuries trading. this is "daybreak asia," i am yvonne man in hong kong. betty: i am betty liu here in new york. almost nine of 10 companies in the s&p have reported earnings. it is retailers in the spotlight. here to talk more about what to march -- what the watches mark sergeant -- matt sergeant. the focus has been on department stores. macy's come untoward, their sales continue to fall -- , their salestrom continue to fall. it is an ice age-- matt: pretty bleak. it is. two cities. of you have macy's, kohl's, and dillards, that are struggling. we have the physical side of apparel in dep

it is possible glencore and century, it is a bit of a bargain. all right, thank paul allen with what to watch in australia. up next, we are live in beijing to find out how facebook is on a new way to secretly enter china. another way in. this is bloomberg. ♪ betty: you are looking at a scene in charlottesville, the scene of the car attack in charlottesville where one person died. -- twoto state troopers state troopers dead. we had vigils across the country with people chanting love trumps hates. this is an commemoration of the people who died in the attack and several who are still injured. trump, lambasted by many, saying he was too late and too soft on the attackers. this is all over the removal of the confederate general robert e lee's statue in charlottesville. the scene of the attack, visuals being held tonight. .e are watching this today whether it will have any impact on the white house agenda going forward this week. let's get to more news, first word news with haslinda amin. senior u.s. officials have tried to lower fears in north korea

glencore reporting better than expected earnings. we've seen upbeat results from the likes of glencore among others but not enough gains in that sector to help the uk index at this point. let's look at the 10-year treasury notes the yield there now 2.24%. in the oil market, another big drop in u.s. crude stockpiles. that actually helped oil prices move higher yesterday. let's see where oil is trading at the moment. we'll get to that in just a second here we go energy markets wti crude $49.65 ice brent crude $52.92 and let's look at the dollar a mixed performance so far but of course all eyes on the dollar/yen which is seen as a safe haven especially when we do see a rise in geopolitical tensions the u.s. dollar weaker against the yen at 109.92. and at the euro, you can see 1.17 against the greenback overall point out the u.s. dollar is down about 9% this year lowest level since may of 2016 >> i think interesting in terms of the safe haven trades if we go back to the dollar boards at the peak of the risk aversion which wasn't that pro

glencore analyst and full seniorure, a nonexecutive director at glencore. john mccain says america is addressed in afghanistan. thatrizona senator made declaration today as he unveiled a war strategy that includes more u.s. combat forces and increased counterterrorism efforts. mccain explained that seven months into the new presidency, the trump administration did not have a game plan on afghanistan. the thousands of soldiers putting themselves on the line, in his words, deserve better. fighters from the syrian democratic forces and syria militia group fighting the islamic state has cleared more than 50% from the i.s. fighters. the defense department spokesman as that islamic state is under pressure because the coalition has been targeting revenue streams, including oil. >> it is a forced to cut the state by half. ,nd making steady progress they've lost much of the revenue base. they are coming increasingly desperate and resorting to arbitrary extortion. the islamicted state has been fighting a losing battle and iraq as well. the crisis expanding beyond the

glencore building this war chest. world's biggest commodities trader preparing to ramp up acquisitions. glencore keeping its dividend will -- unchanged. using the extra cash to pay down borrowings. less then half the level in early 2014. this is a company that emerged from the crisis as metal prices recover. shares in the last 12 months up by 74% today. down by 2.7%. the world's biggest provider of temporary workers reporting second-quarter revenues that missed estimates. it's been hit by a downturn in hiring and some of the world's biggest economies. italy remaining its strongest market with a 25% increase in revenue. sales in north america, u.k. and europe's german speaking region fell as much as 4%. revenue from france rising 9%. confidence in the economy rising to a six-year high. macron vowing to overhaul labor laws and tighten government spending. we dipped into the property .arket with emma ross thomas a slump in london spreading to neighboring areas. nationwide prices falling to the lowest levels in 14 years d

it bought that in peru from glencore. what you're looking at here today -- year to date when it comes to mmg. stock up 79% in that timeframe frame. expecting to post a net profit of $130 million in the first half of this year. gain, butt's a nice i'm going to say the stock i'm watching today is more impressive. inrazy rally, 57% gain london hotel yesterday. it closed down by a relatively more modest by 45%,. investors are cheering this idea assettructuring involving injections of 6.3 billion yuan. a lot of doubt coming through from analysts. shareholders have been starved for positive headlines. some research saying the stock rally is not justified, up over 130% this month to date. coming up, surging metal prices sounding the bell on inflation in china. this is next. this is bloomberg. ♪ 9:29 a.m. in hong kong. counting down to the start of the session. pre-market, a bit of a boost. the snp on public the nasdaq. -- the snp on top of the nasdaq. tadh korea perhaps easing a with tensions, although we had a fresh salvo from

anglo american, glencore and rio tinto among the top gainers as the price of copper strengthened.the month up about 8%. across europe stock markets have risen following positive sessions in asia, but but one notable heavy loss among individual companies was french supermarket giant carrefour. its share price dived 15% on the cac index in paris after the group published disappointing results for the first half and warned of a drop in earnings for the whole year. this is the latest position for the pound against the euro. sterling has again edged lower today over concerns about the direction of brexit negotiations, with investors ignoring comments from a senior central bank policymaker that interest rates need to rise soon a policy which could support the currency. that's all the business news. a law banning so—called legal highs in the uk is to be reviewed after the collapse of the first contested cases brought under the new legislation. two separate trials of people accused of intending to supply nitrous oxide, known as laughing gas, at music festivals were thrown out on wednesday

shares in glencore rose more than 2%, while bhp billiton and rio tinto were both up by more than onegning. back to you. in every arts organisation wants to win over a younger audience, but scottish opera have taken that to new lengths. their latest show at the edinburgh fringe is an opera for babies — the latest in a successful strand which has been snapped up worldwide. our scotland arts correspondent pauline mclean reports. this is opera for beginners. a shorter show, a more simple storyline and a chance for the audience to move around. all required when you are not yet two. welcome to the latest show from scottish opera aimed at babies. we said we wanted it to be a true opera experience. it is babies, 6—18 months, but we wanted them to be able to say, when they were in their 20s, 30s, if someone said, "when did you first see an opera?" they would say, "well, when i was ten months old." every arts organisation wants to win over a younger audience, but for scottish opera it's about more than that. we should aspire to make sure that every child in scotland has got the same kick—off p

softbank reports on the seventh, glencore on the 10th.are one of the strong performers up to date. one other aspect that is 3994.sting is g #btv let's talk about momentum. we talk about record levels, but are the stocks as good as they appear? the white line is the s&p 500 index. the yellow line pointing negative as the s&p goes flat is between the advanced decline line in stocks that have declined failing to move past the prior year to date peaks. are we seeing a diversion where the s&p goes negative and goes flat? weight watchers blowout earnings. the stock was up 15%. aside from the fact that oprah winfrey is a huge stakeholder, let's listen to why the stock is doing well. has been investments in technology, investments in the member experience, a focus on products, and certainly the partnership with oprah. , a 10% owner took a stake in 2015. they say that it is beyond that. betty: thank you. another earnings. berkshire hathaway came out with their results. finding it hard to grind out higher profits even while sitting on a $100 billio

bhp is not that large of a producer, glencore is trading at a junior high. prices -- at a 10 year high. metal prices looking better. andie: still ahead, exclusive interview with the ceo of the second largest airline in latin america. bloomberg. ♪ ♪ vonnie: live from bloomberg world headquarters in new york, i am vonnie quinn. mark: live from london, i am mark barton. time for the bloomberg business flash. the price of copper has risen to a three-year high with the chief executive of a metal producer does not see the good times ending. he spoke with bloomberg news. >> we are seeing sustained growth and copper demand link to organization and to the move that china is giving to the consumer economy, much more intensive in copper when it comes to electronics and appliances. add a significant change or disruption technology wise with electric vehicles in the space of clean energy. which is amazing. mark: copper has rallied 20% in 2017. bad news when warren buffett berkshire hathaway attempted by encore failed. it removed the company from creditwatch negative the

we saw a year or so ago when glencore shares started plummeting, people were pointing the finger at investment very difficult to put a number on it. obviously if we are the q ia now, people are wondering, if qatar needs the money and if q ia's assets are tied up in real estate, if that would be a smart investment will not. in terms of making a statement, q ia has an investment program in the u.s. we broke two weeks ago a story that it is actively pursuing this in the u.s. to show the world ever thing is fine. yousef: that's it for this week's "best of bloomberg markets: middle east." we will be back sunday morning at 8:00 a.m. and the uae on bloomberg television. join me then. this is bloomberg. ♪ >> coming up on "bloomberg best", the stories that shaped the week and business around the world. sending a chill through the markets. next they will be met with fire and fury. like the world has never seen. >> the rhetoric continues to ratchet up almost by the hour. south africa's president of what a political challenge, and china's tourism boom spurs a surprising result. >> online to online, or onl

we saw a year or so ago when glencore shares started plummeting, people were pointing the finger at investmentork well. then, it recovered. it is very difficult to put a number on it. obviously if we are the q ia now, people are wondering, if qatar needs the money and if q ia's assets are tied up in real estate, if that would be a smart investment will not. you tie that into the current context. we also know, in terms of making a statement, they have an investment program in the u.s. we broke two weeks ago a story that it is actively pursuing this in the u.s. to show the world ever thing is fine. yousef: that's it for this week's "best of bloomberg markets: middle east." we will be back sunday morning at 8:00 a.m. in the uae on bloomberg television. join me then. this is bloomberg. ♪ ♪ track your pack. set a curfew, or two. make dinner-time device free. [ music stops ] [ music plays again ] a smarter way to wifi is awesome. introducing xfinity xfi. amazing speed, coverage and control. change the way you wifi. xfinity. the future of awesome. ♪ >> coming up on "bloomberg best", the stories that

. >> glencore mrs. remarks, according to estimates it missed the average analyst estimate. change on the dividend policy yet, despite the company hinting that there may be extra payments for shareholders six months ago. six months from now as well. >> the lack of dividend shows that it is really, there are building a war chest. they definitely have the financial room to pay more dividends if they wanted to, the ratio of earnings to net debt has fallen back to one, and their target was two, so they clearly have a financial room for that. >> toshiba revealed in 2016, a net loss of 8.8 ilion dollars, after releasing its audit. qualified earnings results. is what it was called, it seems a million miles away from all kind of approval? in the rightstep direction for toshiba, they have been struggling together auditors to sign off at all on their financial statements over the past couple of quarters. this is the auditors giving them a qualified stamp of approval to the latest financial figures. strugglingthere are with this devastating foray into the nuclear business in the united

we saw it came under the spotlight with the glencore a year or so ago when shares started plummetingointing the figure that qa investment did not work well. then it recovered. it is difficult to put a number on it. obviously, with the current crisis, people are wondering, if qatar needs the money and assets of tight end real estate, would that be a smart investment or not? if you tie that into the current context. we also know in terms of making a statement, qia has an investment program in the u.s., two weeks ago we had a story where is actively pursuing these in the u.s.. tracy: thank you so much for joining us. i just found out that you are actually a football writer in a previous life, which ahead no idea. we will have to bring it on to talk about this regularly. that is it for this edition of "bloomberg markets: middle east ." we will be live from the region ♪ jonathan: from new york city for our viewers worldwide, i'm jonathan ferro with 30 minutes dedicated to fixed income. this is "bloomberg real yield." ♪ jonathan: coming up, the u.s. payrolls report delivers. jobs increase

matt: glencore misses the mark, according to estimates it missed the average analyst estimate.despite the company hinting that there may be extra payments for shareholders six months ago. and six months from now. >> what today's lack of a dividend shows is that really, they are building a war chest. they definitely have the financial room to pay more dividends if they wanted to, the ratio of earnings to net debt has fallen back to one, and their target is two, so they clearly have a lot of financial headwind. the obvious conclusion is they are beefing up the balance sheet to do deals. >> toshiba has revealed a 2016 net loss of 8.8 alien dollars after -- $8.8 million after releasing its audit. qualified earnings results. is what it was called, it seems a million miles away from all kind of approval? >> this is a step in the right direction for toshiba, they have been struggling to get their auditors to sign off at all on their financial statements over the past couple of quarters. this is the auditors giving them a qualified stamp of approval to the latest financial figures. of

keep an eye on glencor the company is due with earnings later this week.hat could be a pivotal moment for the mining sector. keep in mind the stock's resources index is up 9% so far this quarter that is outperforming the overall european stocks 600 index by a wide margin china being the big story there. let's also talk retail in the uk that is certainly becoming a hot topic. visa is estimating that consumer spending fell 0.8% in july from a year ago that marks a third straight monthly decline and the longest contraction since february of 2013 now visa says consumers cut back on clothe willing, houseware and travel spending. this is further evidence of rising prices and stagnant wage growth squeezing consumers' pockets there in the uk. some of the retailers next, tesco and marks trading in the red today. moving on to m & a news. germany continuing the push into the u.s. after the kidney dialysis unit agreed to acquire next stage medical that is a it $2 billion deal this stock down just about 1.7%. n. today's trade mike >> thank you very much >>> let's send

glencore all pacing on the upside. it is land on the countryside is down by 1.2%. skittishness overall in regards to the value of any property. anybody got a bid for any property in london? that is the question you ask yourself. the stock is down this morning, the readership is spiked on that, british has downgraded by hsbc to 678 pounds. matt miller. base very much. chief white house strategist steve bannon was ousted in the white house friday. he had been on shaky ground for weeks amid the fallout of the violence in virginia. what next for trump in the post been an era? era?st bannon he looks to get his presidency back on track but he does not always stick to the script and has definitely the ability to move markets. with us is the senior investment manager at asset management. let me first ask you what you think traders do in reaction to donald trump. thatu try to take completely out of the decisions you make because it is so incalculable? definitely from our perspective, that is what we try to do with the political side of things. trump has been heavy on rhetor

glencore did. the cash flow has to be there to pay the debt.hat is going to happen to cash flows of these companies. israel.ent war i look at the capacity -- the content war is real. think the players like netflix and amazon and out for that are going winners. manus: disney's move this week was interesting, circumventing the distribution that has worked for them. that is an expensive road. james: it is. shareholders are not sure about it. i agree with shareholders. this is a partner in terms of the business strategy. the implied risk premium is higher than the share price. manus: you look at the potential for profit margin in this sector. what is deliverable in the next 12 months? if we take the misery index , what is i apply it deliverable in terms of profitability in those earnings? james: we need to look at three variables. , anded to look at revenues i would say they continue to rise. i would say markets continue to to expand. -- continue to expand. that would be enough to drive this market higher. manus: james, thank you very much for shar

glencore is off 4.66%. billington is down 2.91%.that are adding the weight to the downside in terms of market moves we are seeing this morning. you are seeing iron or trading sharply. , a bignt donald trump factor in all of this, stepping up his campaign of pressure on north korea, warning things will happen to them like never possible. -- like ever thought possible. that is a quote. ray dalio terms of the game of chicken between the u.s. and north korea. he recommends 10% assets in gold to protect against the core risk. meanwhile, -- yes. we are on the same page quite literally. alliam dudley offered positive outlook for the u.s. economy. a positive outlook for the jobs market, and a positive outlook for inflation in his a speech yesterday, predicting an increase in dpi over the medium term -- in cpi over the medium term. here is some of the comments that we have had throughout the week. going to get to a year-over-year number of 2% until some of these drop out of the statistics. it is going to take time. policy has been surprised

anglo american, glencore and rio tinto among the top gainers as the price of copper strengthened.among individual companies was french supermarket giant carrefour. its share price dived 15% on the cac index in paris after the group published disappointing results for the first half and warned of a drop in earnings for the whole year. this is the latest position for the pound against the euro. that‘s the money market rate — not what you might get, as we‘ve been discussing at airport bureaux de change. sterling has again edged lower today over concerns about the direction of brexit negotiations, with investors ignoring comments from a senior central bank policymaker that interest rates need to rise soon, a policy which could support the currency. that‘s all the business news. from money to weather. the last day of august. it‘s been a wetter than normal summer, with a bit more rain before we are done. but many of us have had some lovely sunshine today. but the clouds are building, a sign of things to come. north and west wales had intense downpours, but for most of us, it has been a

we are waiting for the glencore update in the next few days.next, it is the market open and we will bring you the detailed of exactly how some of these stocks are delivering this monday morning. this is bloomberg. ♪ guy: cash is about to open this monday morning in europe. the mining stocks could be interesting in what we are seeing. take a look at the cpi captivation on the bloomberg. it is putting us to around 2/10 of 1% gain. asia has had a reasonably strong session, adding a decent session. commodities have been fascinating out there. iron ore rocketing once again. matt: i have a look at the number that a lot of people have been searching through today. this is the industrial production. of 1.1 percent. we were actually looking for a gain in our survey of economists. why the miss? bloomberg clients looking to the machine this morning trying to figure out what is going on. there was a decline in industrial production, consumer goods, capital goods, but again in energy. a drop in construction for the second month in a row people might want to

mining stocks were the real standout performers today, with anglo american, glencore and rio tinto among slumped to a five—year low after the world‘s second—largest retailer issued a profit warning, highlighting the scale of the challenges the firm faces in the competitive highly french retail market. and there‘s been another slide in sterling on the currency markets. we‘ve also been keeping an eye on the exchange rates charged at uk airports. some travellers are being offered as little as 86 euro cents to the pound. foreign exchange broker fairfx, which carried out a survey for the bbc, said this rate, from moneycorp at southampton airport, was the worst at any airport bureau de change. let‘s get detailed analysis of all of this with james hughes, chief market analyst at gkfx. we have heard about those rates at the airport, pretty poor. sterling has fallen again. what has driven that? there are two sides to it. you have just been hearing about these brexit discussions. you have this issue that the euro versus the sterling is going towards parity, which means they will be valued the same

shares in glencore rose more than 2 %, while bhp billiton and rio tinto were both up by more than oneing to one councillor concerned at the backlog of waste that is mounting up on the city's streets. bin collectors are now stepping up industrial action by refusing to work every day for two hours in a dispute overjob losses. kathryn stanczyszyn reports. for colin, british summertime usually means hoping for some hot weather. but not this year. 13—14—15 bags. that is because colin's rubbish has not being collected from his house sincejune. high temperatures would make a bad situation worse. it is not very good. you are living somewhere and people see bags of rubbish at the front of your house. he is now having to store bin bags in his back garden as well. i have seen rats and foxes. cats rip the bags up. there are actually maggots. i know that from seeing them myself. it is disgusting, really birmingham city council wants to modernise its waste service, but refuse workers say they are facing pay cuts. and have been striking two hours a day throughoutjuly and now three hours a day. the c

lynn: yes, china gdp, but also china on aluminum capacity, glencore zinc cutbacks, you have the chinaproblems in chile, strikes, labor issues. you are seeing supply problems across the board. at the same time, there is a lot of speculative fever, as well. francine: think of a joining us. lynn will be back with steven major. some pretty bold calls at treasuries, but at the 10-year treasury call from steven major. -- you can go on to tv and ask stephen difficult questions. you do that by clicking underneath the video screen. this is bloomberg. ♪ taylor: this is "bloomberg surveillance." walgreens will give u.s. antitrust officials more time to review its plans to buy more than 2000 rite aid stores. the two sides have tried to arrange the deal for almost two years. regulators were unhappy with walgreens' original takeover proposal. the company said it would spend less to buy fewer stores. the turnaround still has not taken hold at cisco. the company predicted that revenue in the quarter may fall as much as 3%. the ceo was trying to transition cisco into a company less dependent on h

doing really well on top of that, so antofagasta had earnings in chile, and they are based in europe glencore20% and vale up 19%. all of these companies sell a lot of iron ore and copper and china in particular. one reason they have been doing so well. etfs you can buy for this. dbb, dog boy boy here you own copper futures and aluminum futures that's been rising the last three months because the global economy has been improving that's been helping that you can buy mining stocks but you have to be careful buying them the one you want to own is pick. that's the one that owns the global miners, the bhps and that's the white line. the orange loin is the metal and mining etf that basically owns steel stocks you want to own pick and finally the dollar has been down about 6% in the last three or four months, guys that's also a help to these met al companies back for you. >> bob, thanks very much for that, and i suppose all those factors considered, the question is why isn't it playing into the oil price as well? >> i find it highly strange. >> certainly playing into the metals >> coming up, salesfo

glencore had a tremendous month. a 9% rally for the month of august.ing this really large rally, really divorced from the broader risk on/risk off market for the last few weeks. an interesting stock as we head into september. jonathan: i have another start to watch, wells fargo. a little bit softer on the back of breaking news at bloomberg. wells fargo increases the fake to 3.5 estimate why 67%, million. wells fargo said employees more bonus accounts than initially thought. it is a sign the bank is still struggling to move past the scandal. there are congressional investigations. the stock just a little bit softer. of stockrama in terms action. it goes to show how difficult it , and how it is still playing out. alix: does warren buffett stay in wells fargo? jonathan: it is a big question to ask. you would think you kitchen sink it. it has gone a lot deeper. alix: the p.r., the optics, bad. jonathan: absolutely terrible. the market is digesting it and saying the optics are terrible. at the same time, you had the congressional investigations. maybe that

then in company news, mining companies, glencore is cutting down and building up fund.iscuss. and improving the culture of silicon valley, we'll hear from sheryl c.o.o. from sandberg to making technology more diverse as google deal with issues of its own. all that come to in the next two hours. about 30 minutes in the trading day in the u.s. and julie hyman is here. stocks lower for a third straight day and increasing in