plus alibaba names a former goldman sachs partner as president. we look at goldman alumni intact. tech diversity coming up. all of that is ahead on bloomberg west. first to our lead, shares plummeting in extended trading after a disappointing report. you cover has seen, you'll been following this quite closely. last quarter it was down, and it is down even more. >> the big revenue type number is gross. in the second quarter it was up about 25%. that is slower than it was in the first quarter, which could be why we see investors telling off shares right now. when will reported its results they made some changes to algorithms. are we seeing any results of that algorithm a change? >> that specific question like on the call and i will be paying attention to that. the company has been promising growth, especially in international markets. they have this global expansion. they are not eating a larger percentage of sales coming from the international markets right now. they're looking to really convince investors that the new ipo growth story is the one they should be buying into the e-c

olivia: now, there is a fake goldman sachs. we are not making this up.is after the break. ♪ olivia: china has been accused of producing plenty of knockoffs over the years. they can backs. also these fake watches. course, let's not forget the pirated movies. now, you can add goldman sachs to the list of things that have been ripped off in china. pimm: this has nothing to do with the goldman sachs in the united states. the point that they have no intention of copying intentionally the goldman sachs name or logo olivia:. though it is called the goldman sachs shenzhen financial leasing core. the characters it uses in chinese to write goldman sachs are identical to the ones of the global investment banking center. pimm: there was a report in july about the chinese authorities going after fake apple iphones that are being produced in china. all of the other fake goods produced in china. you put those under a steamroller and get rid of them. it will be interesting to see how goldman sachs, if they do respond, what action they take to have this site taken down a

but can you think goldman sachs? break, environmentally mining may sound of possible, the one minor is looking to reduce its footprint. ♪ rishaad: we are looking at mining and renewable energy. rout in commodity, miners are looking to go green. lowly spot in the outback is the start of something big. this is a coal mine northeast of perth well off the power grid. ers come out of this mine every year, but that is about to change. their new solar plant should look like this, slashing the fuel. energy expenses are 20% of operating costs. it is something we continue to focus on saving. if it is something that is environmentally positive, saving 12,000 tons of carbon emission, that is a wonderful thing. reporter: the plant is being built by a german renewables company. they are gauging interest in a with sand fire gradually repaying the $400 million cost. australia can really look at harvesting its resources. reporter: but there is one obvious drawback. >> it does not generate power at night. what it can do is help you sa

the goldman sachs of china that is not what it seems.rancine: welcome back to "the pulse," live on bloomberg tv. manus: china may have a reputation for knockoffs for everything from bags to watches. what about a global bank? francine: one company in shenzhen appears to have done just that. calling itself goldman slacks. sachs.ot exactly goldman people kind of think it is goldman sachs. ra: it is goldman sachs shenzhen financial leasing company. according to a filing, it existed since 2013. until yesterday when access was stopped, it had a website as well. on the website, the chinese word which meanssachs, tall and prosperous, they are using the same word. the logo is a little different. you could be forgiven for being misled. the company itself, a receptionist of the firm saying we are not the same company as the u.s. bank. it seems they are not pretending to be the same but you have to ask why they are using the same name. manus: what is the phrase again? nejra: tall and prosperous. .anus: make your own praise what are goldman sachs say

. >> goldman sachs is selling it's coal mining business to murray energy. a steep launch for less than $10 million. goldman bought the mines and other assets for more than $600 million. but it struggled to turn a profit. this also marked the exit from physical commodities. it's down about 20 basis points today in germany. >> goldman sachs striking a separate deal to buy $16 billion worth of deposits from ge capital. this gives them a foothold to expand it's deposits for retail customers. it marks it's efforts to shed millions of dollars from its finance if i recall that accounted for half of the company's profit. down about .2% here in europe. >> now a lawyer for plaintiffs say investors have recovered more than 2 beside in settlem t settlements with nine banks. they're still pursuing claims for seven other banks. the most recent settlements have been with hsbc, barclays, and goldman sachs. reports say those banks agreed to pay about $800 million. >> still to come on worldwide exchange, is the chinese dragon running out of steam? we discuss after this short

goldman sachs is standing out.t was the only large foreign investment bank to increase revenue, profit, and headcount. net income surged more than 40% and revenue jumped by a third. they also boosted staff by 6%. appetite for m&a has been rising with the nikkei touching a high in february. let's check in on markets in asia this morning. to new zealand right now. we are seeing fractional games, pretty much flat. new zealand dollar spot is at 0.66. we are counting down to the open in australia, japan, and korea. let's head over to japan. the nikkei last closed in the green. it looks like we are going to start off in the red zone today with futures pointing to a lower open. dollar-yen right now is at 124.3. more on our top story now. data over the weekend showing china's economic slowdown may be deepening. exports tumbled as producers saw their steepest decline in years. we have our chief asia economics correspondent joining us right now. what does this tell us about the state of china's economy. >> a pretty soft read

been good for goldman sachs. >> coming up this hour, a rush to the exit. investors are increasingly losing trust in asia. then, and is prime minister is caught between a robot revolution, undercutting his job creations game. control, all that and more on this monday edition edge.a chinese export numbers not engendering confidence among investors. it has been a volatile run for markets in the past few weeks. the index down by 1.2%. look at the shanghai composite. 2% higher. policymakers say they want to stab the stock market route. we are seeing optimism, shares shipping on the prospective deals in the space. we'll get you more details on that as we receive them. region, i doubt day across south east asia is on holiday today. they celebrate the 50th anniversary, and we wish them well in the lion city. malaysia, some challenging times. selloffl risk showing a , foreign investors get on the market. keep an eye on the market. vietnam giving us a little reason to be optimistic, and the philippines, philippine airlines is a key member, as it executes its turnaro

breaking news of a big acquisition for goldman sachs.ie: general electric continues to slim down. goldman sachs will require an online banking unit from gd that has about $16 million in deposits -- an online banking unit from ge. this according to the two parties. i'm looking at the statement from general electric. the ceo in the statement saying coupled with a split off of synchrony financial, the transaction will facilitate a complete exit from u.s. banking operations, eliminate the exposure of u.s. positive insurance safety net to ge capital and thereby significantly reduce a regulatory footprint in the u.s. again, this has been the long-standing wind down of these financial operations. this, the latest step for ge, but as you mentioned, it also looks to be a big step for goldman sachs. scarlet: thanks so much. joe: last question -- when you look at the global economy, what's the number one issue that keeps you up at night? steven: the u.s. recovery has been going on for six or seven years. interest rates are zero. you realize this wi

>> vice chairman of goldman sachs for many years.13.d along the way, a very strong relationship in china. he has been on the board since the ipo and has been building those relationships not only in a show but across between the united states. to help develop jack ma's global strategy and we know jack ma want to get 50% revenue. -- to increaseut global brands to the chinese consumer. about building relationships between united states, europe, asia, and helping to increase those brands . the ceo of alibaba said globalization is alibaba's most important strategy in the goal is to help 10 million global businesses and 2 billion around the world. i can think of no one better than michael to help alibaba become a truly global company. it is interesting to see more executive from goldman , now coming to technology the ceoe as cfo there, -- cfo google, and interesting 20 -- trend we're seeing. matt: alibaba has long wanted to be a global player. emily chang, thank you for that. alix: thank you so much. coming up on the bloomberg it bone to

goldman sachs predicting an extended glut and global curde. -- crude.etty: we are seeing gains in the longer term and of the yield curve. the outlook for inflation dropped to the least in almost five months. we had economic numbers this morning, jobless claims falling to a four-decade low. in the currency markets we saw a weaker pound against the dollar, investors facing bets on when the bank of england will lag behind the fed in raising its rates. of theet a look at some top stories crossing our terminal at this hour. filing for u.s. unemployment benefits of ringer the lowest levels in four decades. by 3000 toims rose 270,000 last week. job market experts say firings are down and employers hold on to more workers. we get the july jobs report tomorrow morning. a consensus on interest rates from policymakers in london. >> at its meeting yesterday the mpc voted by a majority of 8-1 to maintain the bank rate at not .5%. the committee you -- voted unanimously to maintain assets and reaffirmed its expectation that when the bank rate rises occur, they can be

goldman sachs just upgraded them. they're going to split the operations into google proper, making more efficiencies in operations and transparency, ultimately higher, i believe. melissa: jim, you have two of my favorites, disney, exxon and jetblue. disney is so beaten down and paid what turned out to be a bargain for the "star wars" franchise, that is absolutely exploding the revenue there. and exxono beaten down, they're never going to go away. i love your choices. >> when asked, too beaten down

. >> goldman sachs and ge.uying the online depository of ge capital. it is selling $16 billion worth of deposits to goldman sachs. an effort to diversify its funding, its means of funding, not just using wholesale but retail. the purchase price wasn't disclosed but a deal between those two dow components. >> a economic comment on this? >> ge is trying to shrink and become a more pure play. the more they do, the more they get through this transition. >> buying this business? >> it's interesting. interesting they want the deposits. that means they are more tied to the interest rate environment. what price they paid is clearly more important. this is more positive for ge as they transition to what they want to become. that should lead to a higher multiple. >> bank investors are becoming increasingly concerned this turbulence could impact the timing of a federate hike. we are joined by former fdic chair and president of washington college. sheila bair. welcome to you, madame president? >> yes. >> because people are

goldman sachs sees weakness fighting the deepening slowdown and rising volatility. pressure on commodities. oil closes at its lowest in more than 60 years. welcome to first up. coming to you live right here in hong kong and streaming on your mobile. a bomb in bangkok central shopping district has killed at least 19 people and injured more than 100. the blast is the deadliest attack in the capital in recent memory and the defense minister says it was intended to hurt tourism and damaged the economy. let's go live to our southeast asia correspondent. what more do we know about this? off in the went heart of bangkok in the area where you will find luxury malls and a very popular location for tourists. for those familiar, it is the intersection come a key site for political protests in recent years. protesters filled the intersection and that eventually led to a military crackdown. it is a significant spot. the explosion happened at rush hour, meaning it was intended for maximum impact. at least 19 dead. about 120 being treated, including foreigners/ . body parts were s

liz: wasn't it goldman sachs that said get into commodity markets, 5 or 8 years ago. what do you think of the report? >> not every call -- they've made the macrocalls. it's wrong, i totally disagree, i'm going into china. liz: you disagree with goldman? >> right, on the fundamentals. the big billionaires of the world are macroinvestors, that means you trade on big trends, on regulation, on tax, on the winds of change, you don't trade and invest simply on what the numbers say. liz: simply on a p/e. >> if you want exposure to china, buy apple here, apple you could argue is still a cheap stock at $106. so go into apple, go into the u.s. companies that have exposure there. there's no reason to go jumping into china. all that being said, i still like the one stock from china, alibaba, baba, i think alibaba down at 68. liz: look at steve! he's saying no way! >> if you are absolutely forced to buy a chinese stock, you want to be in alibaba. liz: steve, what do you think? do you like alibaba? >> if i am forced to buy a chinese stock, i'm not going to screw with you at all. an

they brought on a former goldman sachs employee and asked them to head the global expansion strategy. they at the a stronghold and household appliances. also an extensive network covering 2800 counties in china. that is something they can tap into. jonathan: before the market opens, tell me, what do we need to look for in the earnings? people will be looking at their mobile performance, revenue generated from that sector, and also look at mobile user growth. they will also look at their share-based compensation. should continue to look at that and see whether management plans any handouts in the coming quarters. jonathan: thank you very much. a look ahead to alibaba earnings. , 48 minutes into the session in europe let's gige up to speed on the equity markets -- a brutal moves. index.he lid on that glencore down, it is getting brutal for the miners. we will update you over the last 24 hours. we look ahead to the pulse with him. we do that after the break. ♪ >> if you compare that to what brazil or japan has done, it is miniscule. it was shocking, and unexpected because of their own pa

manus: some of the biggest goldman , alibaba, sachs.estors continue to fall in and out of love with apple as shares hit a six-month low. caroline undup with yde. >> the e-commerce giant in china. starting to lure away some of the big hitters in wall street. we have seen twitter do it and air bnb do it. now alibaba getting in on the game. they have managed to woo mike evans to become president. he was already an independent director of the company since its i.p.o. in september of last year. now he will be taking the helm and focus on the international growth strategy. a man who was a partner for 20 years at goldman sachs. he was chairman of asia, head of global growth markets and knows the interrelation between china and the rest of the world. that is what he has got to. fascinating statements coming out from alibaba. globalization is the most strategy to alibaba at the moment. remember they already have 2 billion consumers. 10 million global businesses. they want to expand and woo in the big brands in asia and the americas and europe. t

if goldman sachs is making money, they stay in the business.clearly says something about the commodities super cycle. joe: everywhere you look it is bad for commodities. alix: we are going to take our focus and look at norway today. forget the financial crisis, oil at $50 a barrel is much worse for scandinavian's richest economy. and for a nation so dependent on commodity track has been crude. kari due-andresen is chief economist and joins us now from oslo. thank you for being with us. and you take a look at the next four down, most of it comes from oil and gas. how bad will this get? kari: the income from oil and gas is about 45%. when you look at the manufactured goods, it is about 50%. this is like the single most important engine for growth in the norwegian economy. oil prices where they are at the moment are really devastating for us. joe: we have seen a big decline kronor with a selloff in the commodities. how much further does it have to go to stimulate the norwegian export sector again? kari: i think the risk is really on the downside.

china's government failed to prop up the recent $3.4 trillion stock market route and now goldman sachsave put a price tag on the country's efforts. china's government spends as much as 900 billion yuan, $145 billion, in the past two months to prop up the ailing stock markets, according to goldman sachs analyst, who say it amounts to about half of the allocation is meant for the chinese rescue. say buying likely focused on blue-chip and defensive stocks and that the government still has another one trillion yuan to provide a cushion as deleveraging unfolds. the government is yet to disclose a figure on its intervention. here now are some of our top stories on the bloomberg terminal. former los angeles clippers owner donald sterling has filed for divorce from his estranged wife. they had been married for more than 60 years. sterling is suing his wife and the nba over the sale of the withwhich she negotiated steve ballmer, after doctors found sterling in competent to handle his own business affairs. stolenivarius violin from a renowned violinist has been recovered. it was stolen after a p

while citigroup and bnp paribas reduce the headcount in japan, goldman sachs increase their staff by done 12 transactions including a $5 billion acquisition. those transaction fees helping fees,n sachs boosts commissions, especially from its investment banking and brokerage businesses which include merger advisory. i jumped to a four-year high. profit also from fixed income rising 10%. rishaad: let's have a look at some other stories we are watching today. david: japan released its latest current-account eta of june -- current-account data of june. about $2 billion short of estimates and less than one third the surplus of back in may. this is the broadest measure of trade. in a tenure look, japan's current-account -- japan typically runs a trade deficit overall. if you go back all the way to 2011. this figure also includes income from abroad. that has really been what is keeping current-account a float. isuick check, how this affecting markets there. that is the current account surplus over 10 years. pulling back from an eight year high. let's switch things around and take a look at e

we saw several bodies including goldman sachs upgrading the forecast.ou may wonder why so many are paying attention to job figures. we have the federal reserve hike next month. many are wondering if the fed will react next month or push towards december. based on the report yesterday, more and more are calling for lift- lift- lift-off in september. >> thank you nancy is. >>> still ahead on "way too early" p two contenders making news in 2 sports world. one of them marco rubio, will tell you what he said that drew boo's from the crowd. >>> which could be heading to the vatican to meet the pope? one that could have to watch his mouth a will little bit. those and more stories when we come right back. ♪ can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive? this is my body of proof. proof of less joint pain. and clearer skin. this is my body of proof that i can fight psoriatic arthritis from the inside out .

joe: abby joseph cohen of goldman sachs, you are staying with us. will haveng up, we one chart that will make all of the apple bulls brees a five relief. ♪ -- breathing a sigh of relief. ♪ alix: i'm alix steel. joe: and i'm joe weisenthal. would you miss? -- what'd you miss? check it out. many users are planning to upgrade to a larger iphone screen. some good news. alix: morgan stanley believes that will lead there growth -- lead their growth for iphone sales. joe: it seems everyone will keep buying iphones. alix: big screen. zynga is falling in after-hours trading after third quarter missed estimates. joe: how long will it last? it depends on who is answering the question. one of the most successful traders in the past year sees more oil routing ahead. he said cover -- prices will not recover until 2017. andy hall says the market has it all wrong. he sees a glut in oversupply is overstated. alix: and one of the biggest supporters of lifting the decades-old ban on u.s. oil exports, i spoke with her today. benefit to the u.s. if we lift this outdated

there is now a fake goldman sachs. it uses the same chinese character as the real goldman sachs. the legit goldman is looking into it. tom: unbelievable that this stuff still happens. there it is. is the bestation form of flattery, right? tom: there were probably be a sanford bernstein and china, as well. let's do a data check. futures up again big two days in a row. everything is acting in a normal fashion, even with commodities a bit of a left. the next screen. vix was still elevated, but much better. that is where we are. we will recalibrate on this in just a bit. two days of better than good dollar. the german two-year shows a distortion that greets people at jackson hole. grading them, as well, is the american gdp. -- for your moving average four-year moving average of the gdp -- we're just not back to the good feeling we remember. this is that tension. vonnie: can we get back there? how long will it take? .om: it is a raging debate the backdrop for stanley fischer is that we are just under that good feeling we felt before the financial crisis. talk about good feeling. when

betty: goldman sachs predicting that the chinese yuan will fall further. goldman cut its course fast -- goldman cut its forecast and said by the end of 2017, the yuan will be trading at 6.8 to the dollar. lastly, the yuan fell more than 3% after the biggest devaluation in two decades. the national labor relations that footballd players at northwestern university cannot form a union. this ruling overturns a march 2014 decision in support of the players. formation of a union would have altered the collegiate athletic landscape as players fight for better pay and other rights. atse are your top stories this hour. we are continuing to feel the impact of china's currency devaluation. a bloomberg survey of 11 economist suggests china's gdp is growing noticeably slower than china's official estimate of 7%, reinforcing concerns that demand for commodities are going to weaken in concert at commodity prices weaker today, starting with oil, but really all of them are falling. pimm: with us now is jim, president of bianco research in chicago. worried that the u.s. econ

goldman sachs as well as jp morgan upping their u.s. gdp target for the year. a slew of earnings coming out today and of course that could change the story on wall street. if you take a look at european markets a host of companies reporting earnings in germany and that of course right now at this point moving the xetra dax higher. the cac 40 with a loss of around 8 points and we're looking at the athens ase. now open for the 4th straight day and it is higher after moving lower over the past couple of days after being shut for over five weeks. keeping investors excited. we're looking at the ftse 100 down about 26 points. will the bank of england give my clarity as to whether that rate hike will come this year. >> indeed seema. a muted performance from european equities today although yesterday was a pretty strong performance performance, a bit of a risk on sentiment. on monday we touch 0.60 on the german ten year. quite a marked move over the last couple of days. a similar sort of move in the u.s. we were at .15 on monday we're now at 2.26. we had seen yields ki

chief latin america economist for goldman sachs.: and we'll be right back. ♪ alix: i'm alix steel. joe: i'm joe weisenthal. "what'd you miss?" alix: do not miss this. unemployment data out next week is going to be awesome. joe's going to be on vacation but we're going to be covering it here. the expectation is it to come in 5.2%. joe: and there's a ton of other economic data next week. i can't believe i'm going on vacation next week. other thing to watch, this saturday, your saturday is ruined because fed vice chair is on a panel at jackson hole. he's going to be talking about inflation, the fed, people are going to be following every word of that panel in terms of getting more clues about what's going on. pay attention. alix: watch those fed fund futures. >> from our studios in new york city, this is "charlie rose." charlie: his role in 12 years a slave and academy award nomination in 2014 for best actor. the stars in the post-apocalyptic drama z for zachariah. here is a clip of the film.

basically, what this is is a fund that sun edison and goldman sachs have kind of put together here toest in and develop solar properties. this all in the effort to hand these properties or sell them to the yield co., terraform power that was spun off from sunedison last year. i'm stalking to the experts on it, guys, but in essence what is going to happen is this is going to let sunedison and this infrastructure group at goldman sachs develop these solar facilities to then sell them to the yield company terraform power so they can have shows assets and generate proceeds to spin off to their shareholders. sun edison shares up but should point out for context year to date these shares have r. down about 31% over the last 12 months. >> thank you, dom. down about 60% from the stock's high on july 20th which is when they announced the vivant deal. this leefts one of the biggest concerns that has surfaced recently and that is capital, to drop down to the yield co.s. >> they're building a structure that allows them to hold and drot down these assets into terraform. and the fact you've got a b

goldman sachs and it will stop contributing to him. others in the industry have consider whether to ask for their money back. have you made any decisions whether you will contribute to chairman carrots or his group? tim: we have not made any decisions along those lines. i know the comments he made were concerning. in terms of any decision beyond that, we have not done that. >> is that being discussed at all? tim: each company will have to decide for themselves how they want to approach that. goldman sachs and others have been publicly reported. that is not something we have gotten to a decision point yet, but something that we will certainly consider. >> scott garrett was one of number of people who voted against speaker boehner. i think speaker boehner is considered an ally of the industry. there has been a lot of talk about what to do about the very conservative tea party movement type republicans who are attacking boehner as an example of sort of the chaos that has come into the system. i know there has been talk over the last sever

i got the goldman sachs note. jonathan: if the market pushes it lower, you cut the reference rate.they would like to see a slow drift. they sort of yankton into sixth gear and ripped up the highway. jonathan: soothing words from the people's bank of china. manus, thank you very much. these are the numbers that matter. gdp. a.m. u.k. time, greek 12:30.ting minutes at , the --ail sales economist have not been proved yet with a number that shows a real improvement. that number comes that 1:30 p.m. u.k. time. a two day route that touched almost everything, equities rebounding here in europe. the 5100 is up three quarters of 1%. we come back, we are up by 160 points. that is it for me here on bloomberg tv. best of luck for the rest of your day. ♪ francine: defending the devaluation. the people's bank of china tries to calm nerves about the yuan. manus: scores of people are killed as two blasts rock a chemical storage site -- at chinese. bailout blues. greek mp's vote on a third bailout today. germany says the plan is incomplete and refuses to back it. all this as we wait for what are ex

it is the goldman sachs leasing company right across the border from hong kong. the company uses the same chinese characters as the real goldman sachs and the english font on its website looks pretty close. the real goldman sachs is looking into the fake version. those are your top stories at this hour. still to come in the next hour of the bloomberg market day, ferrari is considering a leadership shake up change later in new york this fall which c.e.o. t marconi in the shot. donald trump says the funds don't pay their fair shares, when asked for plans to change that he was short on details. our interview coming up. how likely is the delay in the fed decision to raise rates. we'll ask the kansas city president who joins us from jackson hole. u.s. stocks are up for a second day of stock gain amid a global market bounce after completing the worst six day plunge in four years. u.s. stocks are starting to head upwards, but global market stratgidge kathryn rooney vera says policymaking errors are still threats to the markets. she joins us from miami. kathryn, thank yo

the company has the same chinese characters as the real goldman sachs. shenzhen financial leasing company. goldman has very little power in mainland china. not much the company can do to change this. apple runs into this all the time. julie: hopefully customers realize it is not the same goldman sachs. you do not look too confident. erik: gdp data and jobless claims will be released. these are important data that could have an impact on the fed's decision to raise rates or not on september 17. carl riccadonna is here to give us his sense of how the second reading on second-quarter gdp and these initial jobs -- carl: i think the numbers are a little less relevant. the focus on gdp. a lot of folks will say this is old news, nothing really to say. it is going to be a fairly substantial upward revision. going from two and a quarter of 23 and a quarter. gdp.econd print on with this, we will get the first look at economy wide corporate profit. that is new information that is potentially relevant. we had corporate profits on a national basis contract in q4. we

doubt the fed will -- goldman sachs and morgan stanley doubt the fed will act. we discuss in minutes. someamerican consumers -- shop and some do not. good morning, everyone. this is "bloomberg surveillance ," live from our world headquarters in new york. it is wednesday, august 19. i'm tom keene. joining me, brendan greeley and vonnie quinn. brendan: they are making the case in front of the bundestag. we will talk with hans nichols in a second. angela merkel will not talk. we think she will put it on wolfgang schauble. we are not worried about whether this passes. the greek it will pass. we are looking at how many members of her party defect. president like the and john kerry or the president and jack lew. brendan: it is like the president and harry reid. they are all members of the same party. it is more who is responsible for the party. tom: i want to know about the german parliament. as move on to top headlines. he was vonnie quinn. vonnie: good morning for you later today the federal reserve is releasing minutes from last month policy makers meeting. investo

at goldman sachs, you do not even change your gdp forecast. why not? >> it was artie low to begin with. the official numbers were called at 7%. production has a 1% handle and the heavy industry is probably already in recession right now. that in a way is already being felt in people's accounts. jonathan: the fears around china? are they excessive? >> i think they will be manage the situation. one of the problems we have had this year, which was a big challenge to our commodity call was that in april-may, the chinese started stimulating and the equity market when up. the price action in commodities so we had a big bounce in commodity prices which in our view was unjustified. and now we are converting to fundamentals which are largely supply-side led. jonathan: stay with us. talk about commodities being pummeled at bhp billiton. we will talk about the wider commodity markets just after the break. then chinese fallout. how the slowdown in the east could weigh on growth in germany and south africa. is said to have boost its takeover offer to syngenta. 50 m

shery: goldman sachs says asian nations will not lift rates despite weakening currency.he bank says it is unlikely that central banks wilhite rates because risks and trade are limited. the worth of 11 asian currencies have slumped against the dollar this year. atirst quarter profit surge softbank will see a share buyback. billion,e was $1.7 ahead of estimates of $1.2 billion. they see signs of revival at sprint and is committed to turning the mobile carrier around. shares finished 6% higher in new york. >> you may think i am being overly optimistic about sprint, as there is no concrete progress at this point, but i have the same positive feeling as i had with yahoo! broadband. i believe i made the right decision to buy sprint. i have no intention to sell. myth: amid continuing draw -- drama in mainland markets, china railway signal makes a debut after raising $1.4 billion. saly is covering this. this is the first listing since the rout began. what can you tell us? juliette: china railway signal has raised $1.4 billion from its ipo. at theillion shares bottom end of what

we are going to talk with a former goldman sachs banker who is heading up a company putting a twist onent to own model. mylan has been in pursuit of para go. ibm hoping the health care business can spark some revenue growth. ibm has agreed to buy merge health care on a 32% premium. joining us now with more on how this is all going to work is dr. john kelly. he is ibm's senior vice president of solutions portfolio and research. ibm.er big acquisition for how exactly are you going to use that data? when can you start really using that data to apply to your watson technology? dr. kelly: we are excited about this acquisition. this is our third acquisition of cloud-based data in health care in the past few months. this data set is rare unique in that it is medical images. are previous acquisitions and a lot of our development was around electronic medical records and natural in which. this is medical images -- and natural language. this is medical images. betty: why is that important? dr. kelly 90% of medical data is hugeined in imagery, amounts of data, more than most doctors can possibly

group, ubs wealth management, the goldman sachs group again, bank of america. this become a weapon, yes the republicans will try to use it, jeff, but do the democrats use it? >> sure. i think a couple democrats will use it. they already have been. but now they have some fresh examples here. bernie sanders has been using it bit by bit. martin o'malley has been, as well. it's -- it's an easy ad when she told abc's diane sawyer, you know, we were dead broke, that's why we had to do this. it just simply isn't true. interestingly in her release this afternoon she pointed out on friday afternoon she pointed out that on, as a young, legal aide worker in arkansas she made $16,000 a year. trying to show america is a great place where you can start making nothing and then make this. the reality is i don't think this changes anyone's impression of the clintons, it just gives them a few more zeros onto things. but it adds some ammunition, no question about it. that's why she has to prove, it's her burden to prove that she's a fighter for the middle class. >> anything in th

goldman sachs is riding the buyback boon.oming up, the five stocks the firm really says pay to own right now. >>> one five-star fund manager will tell us where he is putting his money to work in today's market. >>> later, a stunning meteor shower expected to light up the predawn sky overnight but you don't have to wake up early to catch it. we've got some video and it is coming up next. >>> as kate rogers just mentioned, we are also keeping a close eye on the energy market with crude reaching its lowest level in 6 1/2 years. much more coverage coming your way as you watch cnbc, first in business worldwide. shopping online... ...is as easy as it gets. wouldn't it be great if hiring plumbers, carpenters and even piano tuners... were just as simple? thanks to angie's list, now it is. start shopping online... ...from a list of top rated providers. visit angieslist.com today. >>> stocks coming off the lows making a turn into positive territory following the close in europe. let's get more on today's market action. joining us, coll

stuart: this is from goldman sachs? the great goldman sachs. ashley: based on what.art: come on, you be a reporter. sandra: based on growth. u.s. growth. ashley: despite what's going on in china. sandra: yes. stuart: we'll take a 11% gain. sandra: i would, absolutely. stuart: we've got to offer some caution here, up 600 points at the opening bell, but there's absolutely no guarantee that we close 600. >> yesterday we lost over a thousand point in over four minutes. sandra: you talk to the average investor and the. >> an investor shouldn't care where we close they're looking much more long-terms than that. stuart: thank you very much. you can join the-- >> thank you. stuart: look where we were roughly 24 hours ago. and as ashley said, down 1089 after five minutes' worth of business yesterday morning. we'll give you the full story, the updated story. what's happening now, the rally. it's going to join us in a moment. >> obama's not going to let anything pro growth come through. the election is not until november 2016. the president takes office in 2017, it's hard to ge

goldman sachs says it may fall below a thousand dollars an ounce.e have surveyed says prices will drop to $984 before january. i have to just finish with copper. it is the only metal out of the six on the london metal exchange not yet in a bear market. it is at the moment just shy of 20% below its peak. it closes at more than 20% below it would be in a bear market by the close today. but metals and general have fallen to the lowest level in six years. this is where the chinese story is strongest. in terms of copper, it uses 40% of the world copper. anna: they are the biggest car market in the world now, too. guy: let's talk about what is happening in the oil markets. karen all he is joining us a you will -- european strategist at ubs. let's talk about oil and the direction of travel. we have seen brent sub 50, is the expectation to go lower? >> the demand side looks fairly weak. and obama's announcement yesterday will not help. european demand is weak. then of course you have a run and maybe libya coming back online. it looks pretty weak. should it

i hear people talking, including a goldman sachs note, flat is the new up.re there too many headwinds to do anything substantial between now and the end of the year? >> i don't know between now and the end of the year, certainly talk about what the mark vets been moving on, they moved on the earnings, stopped with the earnings, huge barrage of earnings, suddenly, we have that focus right back on everything in the global world and it's not only just china and greece but obviously, all taking a look at what's happening with oil. all kinds of different things, scott, i think pulling us in various direction. certain areas of the market just continue to hold up. look at the financials, look at health care, they continue to trade pretty well, other areas, look at energy and materials pulling us down. so until we can break out of that think we are snuck this range act least until we get to the next cycle. >> josh oil looks like it wants to go down near 40. this goldman note talks about high starting valuation. you have got the dollar, which is rising. those both co

ancine: lerpsd are hsbc, goldman sachs, b.n.p. paribas and r.b.s. the fx of course more than $2 billion across nine firms. we'll have more on this after the break. francine: welcome back to "the pulse" live on bloomberg tv and radio and streaming on bloomberg.com, your tablet and phone. manus: hsbc and barclays along with three other major banks have reached a settlement along with u.s. investigators on the claim they conspired to rig the market. we're talking about $2 billion. where does that fit? why? who is involved? is it really that big of a deal? >> in terms of the overall money, it sounds like a lot of money, a lot to you and me. it is all relative. it has been $108 billion worth of settlements. yesterday's claim involving hsbc, barclays, goldman sachs, b.n.p. paribas and royal bank of scotland, i suppose it works out at $1.2 billion of settlement for them. they now have to cooperate with the lawyers who are investigating seven other banks who remain defendants in this case alleging that they helped to rig foreign exchange markets. i'm not go

also in the green in alaska trade we have goldman sachs. jpmorgan pretty good. citi group to names at the moment i can see we're looking pretty good as we flip over to the financials. now we cannot forget some important leals for the three major u.s. indexes we're talking about the dow, nasdaq and s&p. right now higher by 401 points. the dow along with the nasdaq which is higher the session today up 135 point. right now both of those indexes despite these gains are still in correction territory. correction meaning down 10% from the recent high. in the last couple of minutes we've seen the s&p claw its way out of correction territory. the s&p looking very good up about 46 points. that is the high of the session. s&p at the high of the session up about two and a half percent. the beauty of the markets, though, is that there has always a chance that we could see some headline that charmings these higher, but that is also the fear of these markets. negative headline which could very well come at 3:45 p.m. and start to seat sentiment of closing trades here at the new

goldman sachs will pay to or $72 million to settle a lawsuit by investors claiming the bank misled them about the safety of mortgage backed securities. -- will pay $272 million. the network is extending jimmy fallon's contract by five years. since ballin took over as host in february of 2014, the tonight show has dominated the late-night landscape versus -- thosecompetition are the top stories we are following at this hour. matt: tesla is hoping to drive investors into a secondary share offering. how much do they actually need the money? mark: the former chairman of dean foods being probed for insider trading, allegedly passing of information that made its way to phil mickelson. matt: not nice being probed. media,ia betting on big nbc universal investing in vox media. china is trying to restore calm two days after that surprised evaluation rattled investors. intervention has driven dramatic moves across the board, especially in emerging markets. matt: with a fed right hike on the horizon, markets from brazil to turkey could be in for a rough time. hike on the horizon. let's get your tak

recently they brought on michael evans from goldman sachs . >> what people will be looking at is theadvertising revenue from apps including we chat and qqq. that is one of the highlights they will be looking at. mobile kansas at the else that is a highlight but analysts have projected a slower growth in that area. rishaad: you have a lot of writing to do today. is watchingld google with interest as it separates the here and now from its so-called moonshot projects. he says he was excited but not surprised by the news. >> i think the technology community is enthusiastic about this because what larry is building -- he has the most amazing is this platform that has ever existed given its potential to invest and especially given their ambition. there is no one in the world today maybe i handful of people who are as ambitious as larry. very excited about this. that the newld me ceo should be running the day-to-day operations a larry can focus on the future of humanity. it sounds a bit grandiose. take me inside the minds of larry page and sergei bring. for think they are doing it reasons t

it was put on by goldman sachs the last time.hink people have picked up that mantle and said let's do something good and this is a good idea. if you see bankers -- matt: it is a scavenger hunt that involves athletic events, video games. it will be fun, and not involved drinking officially. have a good weekend. ♪ matt: welcome back to the bloomberg market day. i matt miller. -- i am matt miller. signs of progress in the u.s. labor market. it could keep the fed on the road to raise rates. employers added 215,000 jobs in july with the unemployment rate holding at a seven-year low of 5.3%. it follows an advance of 231,000 in june, bigger than previously estimated. a lot of the numbers were better or the same as the month before. as summer comes to a close many parents are focusing on back to school shopping. it's also a crucial time for retailers. this year, jcpenney is looking to reinvent itself again, along with your kids wardrobe. stephanie ruhle spoke to the merchandise manager about how it is planning to top last year's sales. >

goldman sachs secret bosses helped him make billions of dollars. man will share its secret sauce with it clients. nicole has that dori. nicole: you get the tools. you could trade just like goldman and make money. that's the idea behind the secret sauce. sandra: you are looking at the dow up 18 points, s&p up to, nasdaq up six. you are watching "fbn:am." this is your first look at morning markets and ricky news. ♪ breaking news. ♪ trained to let's say you caught up in global market action. asian markets higher to beijing valued the china's current date. this is the third day in the road we seen this minute. seen this myth. your scenes that release and there. shanghai at 2%. european markets strong as well. here at home watching the stock index futures trading higher. dow futures up 21 watching the broader market s&p 500 is up this morning. midday trading yesterday is still close higher for the year yesterday but everybody watching that your commodities right now with oil moving to the upside of a gold with six and a half dollars. some next action com