we do not have a lot of details, but it was enough to suspend tim heywood.e was suspended, he triggered redemption requests from investors because they did not know what was going on. in the wake of that, gam was freezing these so investors could not pull their money. they finally liquidated the funds. in this statement, they basically said, this will allow us to pay back investors in a more timely manner. investors will get their money back. probably also said is if people still want to invest therese strategies probably will be away for it, but they did not provide for a lot of details. this is not the next step of this saga and the farms were liquidated. -- funds were liquidated. mark: they are down by 50% year to date. what does it mean for the company and the -- embattled chief executive? jan-heinrik: it is a big blow for the ceo and the company. it is not a large company, not a big asset manager. share price is down 50%. this are more issues atgam year. they had to book a charge stemming from a hedge fund strategy last year. they had an activist shareh

and events tragedy ever heywood. were on the bridge came down and in this city of genoa and on a main highway that connects italy to france because plunged one hundred meters into a riverbed railway and buildings. sabina custard franken has the latest from italy for us so the death toll it was suggested earlier might rise just because of the scale of this is that it appears it is going to rise and authorities here are saying that the search and rescue operation will continue until everybody that is missing is accounted for and that means going into the night as well the italian prime minister has just arrived on the scene just epic want to is in genoa the. transport minister is also expected the deputy prime minister met there salvini has been talking about the matter says everybody who is responsible for this disaster must be held accountable and we need the names and the surnames of each and every one of them now and that's not going to be an easy matter and i'm sure it's going to take quite some time but of course

christy and michael hughs came to the classic at tpc in heywood for the same reason everyone else did. >> everybody came out this year to see steph. >> reporter: he tee'd off just after nine this morning for the second year the pga gave him an exemption allowing curry to play even though he's not on the pro-tour. >> he doesn't seem like much of an amateur at least for the first three holes. >> reporter: he was at even par at that point. he is a talented amateur, one that a lot of pga pros want to play golf with. >> we get countless requests from our players saying can i play with him and in order to be fair we decided the best thing to do was to go right down our money list. >> reporter: the top money earners who weren't at the pga championship in st. louis were playing here. steph shot a 71 that's 1 over par and he had to have a big comeback on the back nine to get there. >> i three footed, it was 4 over. it could've gone, you know, in the trash can the whole round if i let my emotion get the best of me. i had a good drive on the next tee shot made a birdie there and parred a birdie

likely to be very casualties while the tally administer as cruel to come out and events tragedy ever heywood al-jazeera. well as you saw in some of those pictures the miranda bridge came down an industrial area in the city of genoa and on a main highway that connects italy to france all those cars plunged more than ninety meters into a riverbed railways and into the buildings down below. we're almost canady joins us now from genoa he normally drives over the bridge every day and he is in his car now and will tell me a little bit more about what happened. basically and there was a storm in general good evening to everyone. there was a heavy rain and the lightning hit the bridge and two hundred meters off the bridge collapsed down in the river down there was below and so good that you usually use the bridge don't you have how are you and others getting whole with the bridges down. there is a huge traffic jam for us is really a shock because my feminine diary used to bridge four times a day to go to work. so yeah. if the the traffic will be really an issue for the city in the next months or yea

likely to be many casualties the tally administer as cruel to come out and events tragedy and the heywood. well our correspondents. what's the latest you're hearing. it was very dark you probably can see behind me but at the end of this street is the marandi bridge and you can see the bit that is standing in the police not actually letting people through this street because they keeping people away from the area at the foot of the bridge because there are fears that another part of a coat could collapse in fact around four hundred people have been evacuated people who lived in apartments very close to that bridge and we know that the rescue operation is continuing and will continue through the night say local authorities the search for survivors continues there are about three hundred firefighters and emergency workers they have an incredibly daunting task because when that bridge collapsed on tuesday morning local time a huge section of it fell to the ground it is now rubble we're talking about concrete blocks so what those rescue workers i'm to do is use machinery to lift some of the he

their flagship and driver, and it did is down.pretty andgam swiss asset managers, this guy called tim heywood being put on suspension. they could see assets fall as volatility is building. they may not get as much inflow. let's look at other assets. we did get a been of volatile trading today. you've got to push higher when you got the monetary policy position. 9-0.pc saying goes the pound. looks like more caution surrounding the outcome of brexit, like we might not get the -- could see some walking, not running. that's the way mark carney put it. the interview with the bank of england governor later. and that is a look at the european markets. >> you said it. we have the pound sterling weaker, pushing up the dollar index five marks for the first time in a wild. vonnie: for the first time -- futures going up a little bit -- across the 95 mark for the first time in a little while. 2.98%, and crude oil features just perking up a little bit, lower earlier this morning over more supply and blessed is -- less demand. yuan is down 6.871. looks like every trader is looking at it. commodities on our

it seems like a extreme step to let go or suspend tim heywood ,or what they say is compliance risk managementordkeeping kind of things and the perception is that something more serious than that is up. whether that is true, we do not know. the perception itself is causing investors to freak out, if you the shares redeemed their investments and the ceo has a lot of fires to put out if they want to stem the bleeding. matt: i think freak out is an appropriate way to put it. thanks for a much. -- very much. we hear a lot from barclays, an interview with jes staley. >> he told anna a bit ago that the bank is running free, shedding the legacy issues, that will jump at the open. a beat across many of the board, he also got one standout is the trading revenue grew 11% to 1.3 billion pounds, more than the average and .5%. it was also a win for the -- win for jes staley. also he is targeting his own strategy investment banking a key for him. thank you very much. some -- a couple of more as well. the free cash flow looks good, that is worth paying attention to as well. keep an eye on monday. inflows loo

likely to be many casualties the tally administer as corrupt the coming and events tragedy and the heywood. turkish president. for a boycott of united states electronic products in retaliation for what he says is an economic attack on his country or do and supporters will film converting their dollars into league as the president had asked this instant do all the currencies recovered some ground after crashing to an all time low against the dollar on monday u.s. sanctions are partly to blame the weakness of the currency has been having major flow on effects for other emerging markets so then consumer who has more now from istanbul turkish government has taken some measures in order to stop the developer ation of the turkish current still iraq the central bank increase the liquidity for the banking factory yesterday on the other hand today the investor ministry announced that they activated one point two billion dollars for the turkish industrialists production along with some other measures taken by the finance ministry and one of the steps that is there demanded by the markets and interna

to be badly casualties while the tally and minister has called to come out and events tragedy ever heywood al-jazeera. on the run to bridger came down an industrial area in the city of jenner and on a main highway that connects italy to france cause plunged all one hundred meters into a riverbed railway and buildings below which had been a custom franco's live from the telling town of tuscany. extraordinary scenes a motorway bridge collapsing in italy really in shock isnt it. absolutely it talents are just devastated by this disaster i mean the idea that our highways and bridges are not safe and that something like this can happen at the height of the summer season you know with obviously many tourists here but not only a lot of people were on that bridge because you know it was a major artery and a whole section of it collapsed as your pictures must have shown and you know there were as you said more than thirty vehicles some of them were large trucks and they just came crashing down on to a couple of where houses that were underneath unfortunately no homes unfortunately those warehouses

winning approvals to start liquidating the strategies that were run by suspended bond fund manager tim heywood. week go private drama may have overshadowed signs of progress on the crucial model three. bloomberg's tesla tracker suggested production of the sudan may have exceeded the target of 5000 per week for much of the month. tool can vary the from week to week, but indicate tesla topped its 6000 cars goal for late august. boeing is said to be in a delivery bottleneck with dreamliner. the blog says supplier problems are affecting at least six planes and production of two more are being paused. airlines concerned include , and shanghai airlines. the blog says hainan airlines has requested a delay in dreamliner -- and a dreamliner for air china is sitting in storage for unknown reasons. that is your bloomberg business flash. rose: u.s. stocks yesterday, driving the nasdaq above 8000 for the first time ever. indices reached record highs. still with us is nandini from j.p. morgan asset management. we saw the s&p 500 closed shy of the 2900 mark. is this the time to be paying up for protection ag

withdrawals at its bond funds after clients told their money following the suspension of manager tim heywoodprocedures. we also talked about barclays. gam lost 20%. >> the potential repercussions over the funds, it seems the concerns are contained. still have towe know really what happened in terms of what were these risk management procedures that weren't followed. the company has said clearly that no honesty is under question here. it's early days. we don't have the details and we will have to see how these funds returned to investors. what kind of hit investors have to take. the underlying assets the funds are sitting on. francine: every case is very different. what do we know about outflows? our clients going to be rushing to get their money out? the last time we saw anything similar in europe would have been when the property funds suffered similar withdrawal requests in the after months of brexit. there were concerns a would have spillover effects and they were very much contained. we will have to see. tom: i think you need to do a public service here. throughout all the media and no f