today at 5pm: the harrods of the high street. mike ashley's vision for the house of fraser department store chain after he buys it for £90 million. the tycoon and owner of sports direct has rescued house of fraser from administration but its 16,000 staff are waiting to find out what he plans to do with its stores. i think we're alljust trying to keep each other up, we're all trying to stay motivated and hope for a good outcome. we hope they're going to find some solution, finally. you know, there's nothing finished yet. lam in i am in glasgow where frasers was established in 1949. almost 150 years on, we have engaging reaction to today's announcement. we'll examine why mr ashley's stepped in and what it might mean for the future of the high street. the other main stories on bbc news at 5pm: britain's feel—good summer boosts the economy. the warm weather, the royal wedding and the world cup bring improved growth figures of 0.4%. a muslim convert is facing life injailfor a plot to kill 100 people in a terror attack outside the disn

its new owner, mike ashley, says he wants to turn it into the harrods of the high street.what could its future look like? sports directjust seems quite a jump from house of fraser. it doesn't really, in my mind, really fit together very well. we'll ask what the sale means for house of fraser's staff and customers. also tonight: good weather and good news improve britain's economic output in the second quarter of the year, but crucial exports are down. visible from the sky — china's expansion into the south china sea continues, despite growing opposition. an immigration reprieve for a nine—year—old chess progidy — we meet the boy who's just been told he doesn't have to leave the uk. stuttering run—up. nothing stuttering about the execution of the penalty itself. and the premier league season gets off to a flying start at old trafford. and coming up on sportsday on bbc news: the new premier league season is under way. find out if manchester united got off to a winning start after the perfect start against leicester at old trafford. good evening. the struggling department sto

its owner, mike ashley, says he wants to turn the chain into the harrods of the high street.t is paying £90 million for the business, which is 169 years old. house of fraser has 59 stores across the country — administrators had earmarked 31 for closure, but mike ashley said in a statement he'll be doing his best to keep as many open as possible. so, this evening, the 17,500 strong staff wait to find out exactly what he plans to do with his acquisition. our first report is from our business correspondent emma simpson. glasgow, where house of fraser began. it's early doors and staff are fearing the worst. began. it's early doors and staff are fearing the worstlj began. it's early doors and staff are fearing the worst. i don't think i have an understanding of it here. it's not really been explained to us at all. i think we're all trying to keep each other up, stay motivated and hope for a good outcome. today, shoppers had to wait. in hull, many worried about losing one of their favourite stores. edwin davis, british owned stores are now this one, where we going to shop? at our a

joining us to talk about creating harrods on the high street. we are joined by guest to talk about emerging markets and the u.s. budget deficit. the u.s. administration wants to defecit,n its account but the u.s. may need to be careful -- deficit, but the united states may need to be careful what it wishes for. this is bloomberg. ♪ xfinity mobile is a new wireless network designed to save you money. even when you've got serious binging to do. wherever your phone takes you, your wireless bill is about to cost a whole lot less. use less data with a network that has the most wifi hotspots where you need them and the best 4g lte everywhere else. saving you hundreds of dollars a year. and ask how you get xfinity mobile included with your internet. plus, get $300 back when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. manus: good morning. this is bloomberg daybreak: europe. these are today's top stories. storm,calm after the there are rallies after the mining monday selloff. turkish capital c

today at 5pm: the harrods of the high street.

she milked the publicity for all it was worth and launched a company which now sells cakes through harrods as the main force in her marketing. i got commissioned to make a cake for cara delevigne, the famous model, and my sister said you had to go on instagram and get her to tag you. i went from about 100 followers to 6000 that day, and i think that was the very start of my instagram, and i already had that big boost. you upload a photo, people like it, people see what you are doing, and then react to it, and maybe somebody can even get in touch and order thatjust by seeing it. so the more i uploaded, the more interest i had off people, and the more orders came in. and i am also using instagram as a portfolio of my work because it is so visual. instagram is something that you really have to keep up. if i have not uploaded a photo, my followers might think "oh, she is not as busy this week," so i have to show that i'm busy, making lots of cakes, showing people different options that i can do, rather than the same cake over and over again. so it is not simply making a cake, photographing it,

sports direct‘s billionaire owner, mike ashley, says he wants to turn the chain into the harrods of therts directjust seems like quite a jump from house of fraser, it doesn't really, in my mind, really fit together very well. we'll ask what the move means for house of fraser's 17,000 staff, and its customers. also tonight: england cricketer ben stokes tells the jury at his trial he doesn't remember knocking a man unconscious during a fight outside a nightclub last year. flash floods in the south of france force hundreds of locals and holiday—makers to flee towns and villages — at least one person is missing.

its new owner, mike ashley, says he wants to turn it into the harrods of the high street. of fraser. it doesn't really, in my mind, really fit together very well. we'll ask what the sale means for house of fraser's staff and customers. also tonight: good weather and good news improve britain's economic output in the second quarter of the year, but crucial exports are down. visible from the sky — china's expansion into the south china sea continues, despite growing opposition. an immigration reprieve for a nine—year—old chess progidy —

its owner mike ashley says he wants to turn the chain into the "harrods of the high street".t is paying £90 million for the business, which is 169 years old. house of fraser has 59 stores across the country. 31 of them had been earmarked for closure, but mike ashley said in a statement he'll be doing his best to keep as many open as possible. so this evening, the 17,500 strong staff wait to find out exactly what he plans to do with his acquisition. our first report is from our business correspondent emma simpson. glasgow, where house of fraser began. it's early doors and staff are fearing the worst. i don't think i have an understanding of it yet. it's not really been explained to us at all. i think we're all trying to keep each other up, stay motivated and hope for a good outcome. today, shoppers had to wait. in hull, many worried about losing one of their favourite stores. now this one, where we going to shop? at ourage? but by the time the doors opened across the country, this 169—year—old chain had a new owner. what happened to house of fraser today is the most shocking e

he says he wants the shops to be the harrods of the high street. fell by 65,000 to 1.3 million in the three months tojune according to official figures. that's despite the number ofjobs created going up less than expected — by 42,000. the number of people from the eu working in the uk, fell by 86,000 — that's the biggest fall since records began in 1997. but the number of workers from outside the eu went up by 711,000 tojust over a million. there was a slowdown in the growth of wages — they went up byjust 2.7%. analyst anna leach says that living standards are still under pressure. households have remained, incomes have remained under pressure for some time now, so it doesn't do anything see is that pressure. it's worth bearing in mind the bank of england have been saying for some time they are expecting a temporary slowdown in wage growth, we can expect wage growth to pick up slightly in the months ahead. but underpinning the weakness in wage growth is the weakness in productivity, and we have seen productivity, and we have seen productivity figur

its owner mike ashley says he wants to turn the chain into the harrods of the high street. business correspondent emma simpson reports. glasgow, where house of fraser began. it's early doors and staff are fearing the worst. i don't think i have an understanding of it yet. it's not really been explained to us at all. i think we're just all trying to keep each other up, we're all trying to stay motivated and hope for a good outcome. as workers were being briefed, shoppers had to wait. in hull, many worried about losing one of their favourite stores. with edwin davis, british home stores and now this one, where we going to shop? at ourage? you know, our age. morning folks, morning! but, by the time the doors opened across the country, this 169—year—old chain had a new owner. what happened to house of fraser today is the most shocking example yet of the distress that's currently playing out on our high streets. it's now in the hands of one of retail‘s most controversial and colourful bosses, who made his fortune with a chain known for stacking it high and selling it cheap. mike

well harrod otty we always appreciate hearing your version of the story and all of your thoughts so you can get in touch with those by following those on social media we're going to be back at the top of the hour with the latest headlines that tony is that if you can't. seem wrong well let's just don't all. get to shape our just to get our ticket and in detroit equals betrayal. when so many find themselves worlds apart week choose to look for common ground. uhm. not enough a rich brit. it was alive all's from somewhere you know. i came back to the community of. people we obvious down in on the road look out for me oh look out is over i will go towards him. there i. say. she's going to. receive money does that give us all that. i know you're holding this. up close the cut cause also i am not touching me in my life. i sing along have to die. with lolo make this manufactured consensus instinctive public will. when the room in closest to protect themselves. with the flame and merry go round lifts and be the one percent. to ignore middle of the room sick. i mean really really. good politicia

he says he wants to turn the chain into the harrods of the high street.irect is paying £90 million for the business, which is 169 years old. at the moment, house of fraser has 59 stores across the country. of those, 31 had been earmarked for closure. in a statement, mr ashley said he would do his best to keep as many open as he possibly can. so this evening 17,500 employees of house of fraser wait to find out exactly what mike ashley's plans mean for their future. emma simpson has more. glasgow, warehouse of fraser began. its staff are fearing the worst.|j don't think i have an understanding of it yet, it hasn't really been explained to us at all.|j of it yet, it hasn't really been explained to us at all. i think we are just going to keep each other up, stay motivated and hope a good outcome. as workers were being briefed, shoppers had to wait. in hull, many worried about losing one of their favourite stores. now this one, where we going to shop? at ourage? but by the time the doors opened across the country, this 169—year—old chain had a new owner. what

we love some more than others and figures show the likes of harrods and selfridge's have done very welly well and that fits with the market position, which is premium retail, high—end luxury retail doing very well, because obviously there are lots of very rich people who have remained very rich and are probably getting richer, and as a group they are growing, then there are discounts retailers, also doing well, with some exceptions, i know, poundland being one of them. then in the middle you have ones like debenhams and the house of fraser. we have known for some time the house of fraser has been struggling. what does today change, if anything? i think it will be a wake—up call, isn't it? what does it mean? they are seeing the stores are not closing at the moment, but what does administration mean. closing at the moment, but what does administration meanli closing at the moment, but what does administration mean. i think no one will know exactly what it means an individual stores in high streets because it depends on the buyer they fight and because it depends on the buyer they fightand

announced he was buying the house of fraser fonoti million and he said he wanted to turn it into the harrods gallagher's brand, then you've got mulberry as well, and yesterday they announced it would cost them £3 million, so they put out a profit warning. they have concessions in 21 stores employing 80 staff, so the share price fell at one point down 30%, closing at 17%, they saw this fall because of the fallout, and on top of this one of the biggest creditors owed money is the company operating two warehouses for house of fraser, they employ 600 people in the warehouse, and they are owed, according to the administrators, £30 million. they are likely to get this money. the unions have said they are worried that the jobs are so under threat. it is the ripple effect. you know, it is good that someone has bought the company. the worry is what happens when the suppliers don't get their money. notjust the big hitters. iwas don't get their money. notjust the big hitters. i was reading that the company that do the dry—cleaning won't get their money. it might be £300,000 but it has to keep them goin

he says he wants the shops to be the "harrods of the high street" uk unemployment is at the lowest levele jobs front. that figure fell by 65,000 to 1.3 million. that figure is good and it happened despite the fa ct is good and it happened despite the fact the economy created fewer than expected jobs, 42,000, as we can see there. the number of people from the eu working in the uk fell by the largest amount on record. it fell by 80 6000. if you look at what happened in terms of people who work outside the eu, who work in the uk, that went up to 70 4000. there was a slowdown in the growth of wages, wages went up by 2.7%. the analyst and a leach says this means living standards are really going suffer. households have remained, incomes have remained under pressure for quite some time now. so it certainly doesn't do anything to ease that pressure. it is worth bearing in mind that the bank of england have been saying for some time that they are expecting a temporary slowdown in wage growth, so we can expect wage growth to pick up slightly in the months ahead. but underpinning the weakness in w

harrod's decked out for christmas.l summer but pumpkin spice has begun, candy corn is available. >> do you like it? >> i hate it. >> you have to do "pop start." >> wash it down with pumpkin spice latte, which doesn't taste like pumpkin and there's no pumpkin in it. >> i can't believe it's number one seller. >> so many things happening. >> and none natural. >> did you ever mix those with peanuts. >> roasted peanuts and candy corn. that's the only way i'll eat it. >> are you stalling? >> yeah. this chair is really low. okay. still stalling. first up, things are shaping up in the music world, michael jackson's iconic album thriller is no longer the biggest album of all time. after holding the records for 30 years it's been bumped down to number two. the recording industry association of america the eagles greatest hits 1971 to 1975 is the new best selling album of all time. the record has sold more than 38 million copies since it was released in 1976. the eagles also hold the number three spot with their album "hotel cali

-- harrod's. francine: it is clear that sentiment is high. all bets are open. and bring the empty suitcase. the bloomberg first word news. shares of the italian company that operated the collapsed bridge are being battered today, suffering the biggest loss in three decades. the government has begun the process of revoking atlantia's concession. 39 people were killed in the disaster. for the first time in two months, u.s. and china will resume negotiations in the trade dispute. it will be at a low level. the chinese delegation will meet with the treasury undersecretary. the nations have appeared to reach an agreement in may but the president of the u.s. backed away from the deal soon after. an act of retribution against president trump's critics. he revoked the security clearance of john brennan and drew a direct connection between his action and the russia investigation. the u.s. and turkey remain locked in a stalemate that has rocked global markets. new tariffs on turkish goods will stay in place even if turkey frees a detained american pastor. global news 24

house of fraser because one of the things mike ashley wants to do is to turn house of fraser into the harrodsy market, transactions down 22% last year and also digital disruption from online players as well. shareholders are being asked for more cash. next week they will have to decide whether they are throwing good money after bad. for countrywide, it is a long road to recovery. we could hear you but we could not see you because your picture was frozen. thank you very much. a quick look at the market before we go, carr countrywide down, a little bit less than was earlier today. sterling in dollar, if you are going over to america any time soon, you have picked the wrong time of year really because that is well below 1.30, which was if you months ago. it is an expensive place to visit these days, didn‘t used to be, didn‘t used to be. see you tomorrow. that is your lot from the afternoon live team. i will be back again tomorrow at 2pm. next bbc news at five with ben brown but first a timely look at the weather forecast. staying pretty warm for the next couple of days before things turn much co