tim crawford is an equity manager over at hermes.ee a deal done between the u.k. and europe before the u.s. counts it out. they are having for luminary discussions. that's right. john kerry pointed that you can't do a deal until the u.k. leaves. he's encouraging preliminary discussions. we know there have been discussions. mike sherman spoke with the outgoing trade and business secretary. that is hopeful come if you think about it. ago, we hade months barack obama during his visit ahead of the referendum that u.k. would go to the back of the queue. it looks like the u.s. is moving away from that. the political obstacle for the u.k. getting a trade deal with the united states is going to be the fact that neither of the candidates in the united states are keen on free trade. you've got hillary clinton, not a big fan. donald trump, not a big fan, despite it is the republican party that had been pushing the obama administration to start those discussions with the u.k. donald trump is not in sync with those guys. anna: thank you very much

so, you don't have to wait a year to get your special hermes products.took advantage of gores come of their fx hedging. -- they took advantage of course, of their fx hedging. sales, $1.2 billion, down from last year. 54.1.u are looking at the gilt market of course, is going to perhaps be the most interesting. go to wbix and you can see some of the impact there. bank hasark's biggest had profit slip 1% in the second quarter, missing analyst estimates. most of the business stagnated. shares are unchanged at the moment, but we will see how they open in a few minutes time. that is after we talked to the bank's chief financial officer. is it more difficult to make money now than it was one year ago? >> you can make that conclusion when you look at the numbers. we actually think we have had a very satisfactory first half of 2016. it has been difficult market conditions. we have been facing a negative interest rate and subdued customer demand, as well as some volatile markets, but we have actually come up with a powerful income. last year we were strong on a nu

hermes,redit analyst at thank you. anna: lena is still with us, chief economist.on the italian conversation, we talked yesterday, saying italy may spur a pan-european banking crisis. is this well contained? lena: it does have strong echoes to the eurozone banking crisis, back in 2011. i think the important thing here is that this is the first banking crisis of negative interest rates and qe in europe. and what it does show is that the lessons have yet to be learned in europe, that you cannot fight systemic risk with cyclical talks. and you cannot fight a capitalization crisis was central bank liquidity alone. now, the question here really is how long can they be allowed to just fester? clearing a long love. because the longer it lasts, the longer the risk that comes systemic and contagious. the moment it becomes brexit would think be to preempt this, but as we saw with your before, sometimes political decisions can lag behind. manus: this is the market reality. this is the stoxx 600 bank index. this is your yellow dot, 2001. i would argue that italy is in a strong

hermes us now is investment management's gary greenberg. that afternoon.have you in the studio. you have made the comment that when you look at turkey, it is hard to see, even with what andened over the weekend democracy on a firmer footing. if you are an investor looking at turkey, how much do you have to separate economics from politics? gary: it depends on the time horizon. if it is a year or less, politics do not present much of a risk. if you are looking three to five years or longer, the policies of executive presidency, it could be difficult for you. -- for shorter term investors, you could separate the two. >> going forward and looking ahead, you see there may be a relief rally, or your firm sees that. what are you basing that on? valuation, the economic performance of turkey? gary: turkey is growing decently for the world we have today. valuation is pretty cheap. we see the market at around 1.6 standard deviation cheap versus the rest of emerging markets. and emerging markets themselves are not very expensive. so it looks like a cheap market in a

so in, we the people i talk about how my wife as a graduate degree, master's degree, herm mother had a masters degree, my degree, my sister is a lawyer, my daughter is a lawyer, my sister-in-law rampart of obama's campaign here in maryland. weeks my niece is a doctor, we can my son gets married, he is marrying a dr.. the women in my life, the founding fathers would have no idea. remember no women signed the declaration of independence, no woman at the constitutional convention, women cannot own property, woman, women cannot bow. so if the founding fathers came back to life, they would be like what is going on, how did these women take control. it's a different world. >> but there are consequences, this just should not happen organically, this happened because society recognized and women historically discriminated against it needed to be addressed. so there is efforts done to push women for. we reached a point now where we need to say wait a minute, we do not need these, it's all happening naturally now. but one consequence that i think of is that i know a lot of women who in their 3

that's molt what herms from when he was a young man. her done see three dimensional, he see flashes of light that indicate contrast points between dark areas and light areas but it's enough that he can navigate and recognize objects. when he was staring at me a he said he can't see organic material but he said i can see your eyes. your eyes are glowing and i was like, that would do you mean? he was seeing the reflection off my glasses. i went to watch robotic surgery, amazing experience and why i had to get so many vaccinations. went to see the doctor who was operating thon patient from across the room. wanted to understand robotics because rights now doctors who are doing teleoperative surgery have to do it totally visually. the don't get touch feedback from the patient and that can cause some problems. they don't know how tightly their pulling on the surety tour and it takes an experienced surgeon. so i learn about some of the lab at stanford that are working on basically how to prime minister the robotic devices to render feedback to

picked herme back, i up and said you remember that house you like? i said while you were gone, i thought it and you have to marry me now. [laughter] the third time was the charm. [cheers and applause] in that little house on october 11, 1975. i married my best friend. after more in awe than four years of being around her at how smart and strong and loving and caring she was and i really hope that her choosing me and rejecting my advice to pursue her own career was a decision she would never regret. a little over a year later, we moved to little rock when i became attorney general and she joined the oldest law firm west of the mississippi. she started the arkansas advocate for family and children. it's a group that is still active today. in 1979. [cheers and applause] in 1979, just after i became a health i joined committee to help expand health care to isolated mountain areas. they recommended to do that partly by deploying trained nurse practitioners in places with no doctors to provide primary care. , highly big deal then controversial and very imp

visitor to london and now buy an hermes tie for less than $170.hery: british people going abroad, it will hurt them immensely. it is falling against the u.s. dollar and the euro. it is at the weakest level since 2013. it is weaker than just after the referendum. matt: it has been an amazing drop. the ftse is up since the referendum 3.5%. if you bought the day before the vote, you would be in the money if you bought in pounds. if you bought in dollars, you are down 9%. let's go to the markets desk. julie hyman has the reveal on our mystery stock. today's pick is writing lower after some analysts saw added pork in a recent runoff. a helmet might be needed as shares skid to a halt. you guessed it. i thought it had to be something with motorcycles and thought about polaris. i thought, how does pork play into it? julie: we started talking about hog."-davidson, or " that is the spike that you see here. this bike on friday was because of takeover speculation. it did not aim to have any specific catalyst. it is not the first time it has come up for harley

the head of equities at hermes investment. to another screen on my terminal, andrew, the wpi function, i can see very clearly -- the ftse 100 down 9% in euro terms. that's a significant outperformance versus of european peers. se is benefiting from sterling depreciation. how do i take advantage of it? >> two thirds of fuzzy earnings earnings are an automatic translation of earnings. some companies have already seen major upgrades in their earnings forecast just because of the currency movement. that doesn't change the underlying sales prices, but in a world of instability and uncertainty, there's a certain appeal to that. once we find a flaw and see the economic consequences for the u.k. and the rest of the world, then maybe -- guy: do you think those overweight stocks -- >> things like glaxosmithkline, they tend to be very binary outcomes. for us it's about where companies are going in the long-term. it's more about what's happening to their product, demand for their profits. if you factor the currency in, we certainly wouldn

hermes,uarter sales for they beat first-half profit year on year.which rose by 8.1%. the market was looking for a rise of 5%. first-half operating profit should be higher by around one point compared to the first half of last year. maybe things aren't just as doom and gloom at the upper end of the global luxury market. futures -- dollar-lira, lows at 3.0654. stay there? these are your futures. lower, asianated stocks made their highs, london down by 2/10 of 1%, terrace down, dax down. the stimulus will be back on the top of the radar. four out of five s&p 500 companies have reported results that beat. let's have a look at the bond board as well. equity set for lower opening, things aren't so bad. the japanese government bonds are at -.23%. will they deliver more stimulus? the critics of the bank of japan are on the tape talking about the need for that. yen has relinquished all his post brexit gains. you are seeing moves right across the yen spectrum. let's get your bloomberg first word news with rosalind chin. rosalind: good day. turkey has imposed

gonzales someone she knew from the our community farm complex where she lived murdered herm not onlyturned what steps we might be able to take to try and prevent another case like this from happening to another child. >>terisa estacio: you can see more my interview coming up later. >>darya: there was a plea to keep children our high cars and this comes as a four year-old four children died after being left in high cards in separate incidents in total 23 children have died in hot cars and that compares to the yearly average of 37 children died in overheated car since 199054 hot car deaths in california they remind you be careful of the entire country is facing hotter than normal temperatures. >>mark: this happened in savannah georgia your some of the images she confronted her 16 your daughter about revealing picture she posed online she has some of her and she used to hit her in a recession started slapping and punches turned face patterson georgia had mixed reaction to the video there a way to track down the mother but they told police that she felt safe so no charges were filed. >>m

picked herme back, i up and said, remember that house you like? i bought were gone, it.ou have to marry me now. [laughter] the third time was the charm. we were married in that little house on october 11, 1975. i married my best friend. awe after more than four years of being around her at how smart and strong and loving and caring she was, and i really hoped that her choosing me and rejecting my advice to pursue her own career was a decision she would never regret. a little over a year later, we moved to little rock, and i became attorney general, and she joined the oldest law firm west of the mississippi. soon after, she started a group called the arkansas advocates for families and children. that as you can hear is still active today. [applause] in 1979, just after i became governor, i asked hillary to chair a rural health committee to help expand health care to isolated farm and mountain areas. they recommended to do that by deploying trained nurse practitioners in places with no doctors to provide primary care. it was a big deal then. highly controversial, and very

. >> my name is martin herm an. i'm from the czech republic. >> hold it closer to your mouth. >> yes, originally from czech republic. a long time in america. my question is i don't want to make your life more difficult. but what happens if let's say on top of all the problems that already exist, you suddenly are faced with a banking crisis? >> you're absolutely right. it's also one of the most serious problems which we have now. and maybe we need strong resolute steps forward. and i'm convinced that we are speaking about economic era. in current state, we are not building to develop right solution. and we have some countries and we are not solving this problem. i'm convince swred to develop something new. for example, you know the czech republic is not part of the euro zone? on one side we're interested to the part of this covering. on the other, i have some doubts. i would like to tell you why. i remember this press conference of john clawed was maybe, i don't know, in a few months ago. he was asked why u.s. europe

picked herme back, i up and said you remember that house you like?ile you were gone, i thought it and you have to marry me now. [laughter] the third time was the charm. [cheers and applause] in that little house on october 11, 1975. i married my best friend. after more in awe than four years of being around her at how smart and strong and loving and caring she was and i really hope that her choosing me and rejecting my advice to pursue her own career was a decision she would never regret. a little over a year later, we moved to little rock when i became attorney general and she joined the oldest law firm west of the mississippi. she started the arkansas advocate for family and children. it's a group that is still active today. in 1979. [cheers and applause] in 1979, just after i became a health i joined committee to help expand health care to isolated mountain areas. they recommended to do that partly by deploying trained nurse practitioners in places with no doctors to provide primary care. , highly big deal then controversial and very important. th

bill: she says this whole experience has made herm respect police even more than before. the last comment, they had no regard for their own life. they stayed there with my son and i. it made my admiration greater. martha: i listen to all the back and forth on news stations and you hear all this anger and talk about racism. this woman said it all. there are good people and there are bad people. and she understood she was surrounded by very good people and she was grateful to them. and we need to take a lesson from her. we'll talk more about the message she has for all of us coming up at 10:40. bill: this is in the context of a national election. president obama cut his trip short oversea. he will speak at a memorial. donald trump took to twitter to take the president to task tweeting the following. look what is happening to our country under the weak leadership of obama and crooked hillary clinton, we are a divided nation. katie pavlich, good morning to you. look at the reactions from trump and clinton and president obama. this is emerging as a story about leadership. who

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he got 40%. 60% didn't vote for herm. the term evangelical are those that went to church on a weekly basis. they vote ford ted cruz. it's a broad term, but -- voted for ted cruz. it's a broad term but to answer your question, i think it's a concern over what happened in this country over the last 7 1/2 years where we've seen a constant drumbeat, a constant attack on religious freedom whether it's the little sisters of before, hobby lobby, bakers or florists that he's stood up to the political correct crowd and i think the one attribute that's drawn people to him is courage and that's something that's in short supply in the political class in america. >> woodruff: but do you think donald trump really cares about social issues? he says he thinks people should go to whatever bathroom they want -- . >> he walked it back a little. >> he walked it back a little. doesn't seem to be in his dna to care about those issues? >> no, but if you look at what's happened throughout this campaign, he's made some statements that were out of

few weeks after i was there my first trip, res strep o'was killed and they named the outpost after herm. he was born in colombia. immigrated to america as a child with his mom, and he died fighting for this country at the bottom of a hill in afghanistan. >> host: you made a documentary. >> guest: my colleague, tim and i made a documentary called restrepo. named for the outpost that by extension about the guy and it is about what it feels like to be in war for these guys. all men out there bill the way. the platoon was all men. and it wasn't a political film. if the soldiers argued the merits of the war in their bunkers behind their sandbags, on patrol,ed that hey been having that conversation, the way the rest of the country has been, it would have been in the film. but they just weren't. they were fighting and they were surviving and trying too do their job and that's what the film is about. and i'm politically liberal. right? but very interestingly, the fact that the film was not political, was occasionally criticized by people on the left. that i somehow abdicated my duty as a journa

picked herme back, i up and said you remember that house you like? said while you were gone, i thought it and you have to marry me now. [laughter] the third time was the charm. [cheers and applause] in that little house on october 11, 1975. i married my best friend. after more in awe than four years of being around her at how smart and strong and loving and caring she was and i really hope that her choosing me and rejecting my advice to pursue her own career was a decision she would never regret. a little over a year later, we moved to little rock when i became attorney general and she joined the oldest law firm west of the mississippi. she started the arkansas advocate for family and children. it's a group that is still active today. in 1979. [cheers and applause] in 1979, just after i became a health i joined committee to help expand health care to isolated mountain areas. they recommended to do that partly by deploying trained nurse practitioners in places with no doctors to provide primary care. , highly big deal then controversial and very impor