what is working and what is not working? >> what doesn't work is when university administrators assume a stance of neutrality about hate speech directed at on their campus. that has happened all too often. go back a decade to what happened at the university of california irvine which was a much discussed case. the message that came through is the university washed its hands of incidents that led to violence against and, sadly the administration of the time similarly washed its hands of it and wouldn't prosecute or wouldn't take it seriously. it cannot, we are not asking them to suppress the speech of those with whom we disagree, we are asking them to speak out as they would on any other human right or issue concerning discrimination against any other group and say this is not what our university stands for. this is opposed to the value of free inquiry and what we are supposed to be. it is a green light for things to escalate and that is why we talk about instances where jewish students feel marginalized, shunned, silent. if

happening inhat is the u.k., boris johnson is tweeting a no deal brexit is his default option. we went through 123 earlier. we are approaching 122. the acceleration is absolutely brutal today. we are down by 1.23%. that is having an impact. they trade antagonistic lee. there is also a lot in the ftse 100. it is trending up by 15.23%. the market treating pfizer as a spinoff and a creation of a new public company. 2.2% of the jobs for pfizer there. chipotle is up 3.5% today. expect other restaurants to do well. the initiation includes stocks like starbucks. 500 is still down a quarter of 1%. we are getting some diverse action among the major indices with the now stack -- nasdaq and dow almost down 1%. let's get to our top story. let's start with the central banks. a massive week for central banks. overseeing the fed is at the nickel of that mountain -- pinnacle of that mountain. do you think that this 25 consensus is setting us up for a surprise later this week? it sounds slightly contradictory. we have 25 priced in. if we get to five, do equities fall on the back of that? is tha

oil is higher this morning, brent is up by 1.5%.here is word on the street below me about certainty, about a surety. those are the words from the secretary-general. the consensus is building. termsonths is offered in of an extension to the opec cuts. putined bin salman and agreed this before the delegates arrived. nejra, good morning. it is a gorgeous day. we will be chasing ministers, we will find out what a nine-month extension for the current cuts could do for the market with trump and xi talking to one another. nejra: absolutely, and that is the key link. good morning to you. because we got that agreement that could be rubberstamped at the opec plus meeting over the g20 weekend. it is interesting how important the g20 has been to the oil markets. we have a truce, heavy on hope, light on detail. a line i saw earlier. drop fore first weekly u.s. equities, but futures are on the front foot. the 10 year yield moves higher, up to basis points. having north of that handle. the focus for traders now turning to the jobs data in the u.s.

it is pragmatic. it is the ideology of the result, what is delivered.i think the reason that we are so bad in our educational results is because we waste more time thinking about the ideological frame of what should be thought. >> hello. am an intern with eurasia group. washington. my question is for whoever is interested in sharing their perspective. i am interested in what the future looks like. does it look like it might pose a threat to the bolsonaro government in 2022? they expect the psdb to that the psdbf from the you ext should distance itself from the bolsonaro administration on social issues but maybe not so much on fiscal issues? and, what will determine whether or not they will be relevant in 2022 presidential politics? could a guy like maybe glider be a serious contender? thank you. paulo: let mauricia give us with a definitive answer. mauricia: right now they are fighting each other. the main politician in the party, i think that they will have to handle very difficult elections, including defending sao paulo, the most important when this

is a mistake? -- is it a mistake? a very new mistake because they have been building up the speculative fervor for the next -- last 10-12 years. if they were to cut, it would just be one more instance of doing in. what are you going to resolve it? if you cut it, you increase speculative fervor. if it is not enough to satisfy the market, the fed will cut again and again. the fed is at the mercy of the market. francine: do they need to break that loop? how much do they need to cut to surprise the markets? komal: if they want to surprise cutmarkets, they should not rates at all. they should continue with quantitative tightening. if they do that, you will get harsher tweets from president trump. with the federal reserve be able to tolerate it? under those -- will the federal reserve be able to tolerate it? under those circumstances, i don't think they will. if they don't cut enough and the market is disappointed, they come back to making up in the future. tom: we are going to introduce this chart and some of our fed cover

line always is, it is our fault. ronald walters pushed back to against this. he is pushing back against the idea that it is black people's fault. narrative is so thick and so deeply rooted in the american conscience that there is aspects of black politics that reflect that narrative, aspects of the black church, black elected leaders, black intellectuals who say, it is your fault. walters pushing back against that is enormously important, especially before the age of black lives matter. black lives matter and blm and those movements push back against this idea that there is something inherently wrong in black bodies, inherently inferior and degenerative morally, intellectually, politically, culturally, in thek bodies, even as culture celebrates aspects of black genius, as long it is is -- as long as it is sports, as music, as long as it is food, in a way we can set aside blackness and not talk about what the responsibilities are. burden, but the lure is a billion-dollar cultural industry that is global. walters pushe

>> trading is a black box. volatility is up. volatility is down.henrs complain about there is not enough volatility and they complain when it is the wrong kind of volatility, but you have crowded trades. you have very tough environment to make money in bond trading, in equities, you have very crowded trades and very high compliance costs. you have spending on technology to automate more and more of the trading functions. there is a squeeze on the revenue side, and increase on the cost side, and there you have it. it is an area where you are always rife with surprises. anna: low volatility in fx markets is a feature of certain -- of recent quarters. income,net interest cuts and guidance, one of the gloomier ends of the story for the bank. does that change expectations around the banks that have yet to report? >> i would have thought so. a lot of this stuff is priced in any way. the markets are anticipating it. unless you get a massive surprise one way or the other, you are probably not going to see a lot of share reaction. for u.s. banks, the silver

that is when it is required. i think you see that, there is a terrible sense of shock as you are seeing the man on your left with a bullet through his four head and demand on your right has been terribly wounded in the guts and trying to overcome that in order to get off the beach, to move forward, to do what you need to do, you know what you need to do. you need to get off the beach. and to be able to figure out how to do it, to lead other men to do that, it is something. not every soldier is made to lead other men in the dark of night or in this case, relatively early in the morning. and, it is situations like omaha beach where you find those who are able to lead other men in the dark of night, metaphorically. >> when you look at, we all know we won omaha beach with heavy casualties. utah was not as bad, obviously. but as we approach the anniversary and you see these guys in the front row, it is really the last time they will be able to go back for a major anniversary, most of them are in their mid-90s. the 80t

i think this is where your issue is. can you show what it was before and what modifications you made? i thank you loom large on the streets. you are an architect, you were trying to make it look good. i don't have a general problem with the design, but it looks bigger than it is and you are not making a nod -- >> over 20 years of working in san francisco, we have learned how to make this on the inside and the outside. the changes that we made from the beginning our extensive. between then and now, it is easier to see it here. there is some penetration to reduce the impact of this massing. this is key. originally we were not asking to demo the project. we were just looking at a new floor. if we did that, we ended up with a house. the existing top floor of the house is at 22 feet. when you added on this, this is how we went through the living room. we push the ground floor down to eight. we took the bedrooms that were currently at the main level and then we have this space left over. we did the studies to make sure we were

what he is saying is semantics. it is assessed. that means it is applied. when the project was approved, you will be paying the affordable housing fee, or you will be complying with providing on-site units. the amount is not determined with site permits. it is determined that building permit. in this case, the rules are not applied the same way they are typically. >> thank you. >> thank you, scott sanchez, planning department. the assessment is made at site permit issuance. that includes a notice to them. that does include the amount. it may not be the amount they ultimately pay. there is indexing, so there is annual indexing and the amount may go up and they would pay that when it is due, because it is collected with the first construction document. this is different. this is not an indexing question. this is the to properly, fairly, consistently, legally implement that we develop the rules outlined in the zoning of illustrators letter. those are made publicly available last december. that is how all projects are treated fairly and consistently. the appell

really, what i think it is is the process is going to vary. there is no way we can have four weeks or three weeks or whatever. it is going to vary. we have had problematic doctors upset because they are off the city payroll. they don't want to release records back. there is a rock and hard space there for our member. what i really see is that we need somebody who has the authority in the whole chain to be able to get in there and fix what needs fixed on an individual case basis. for example, we have a doctor who is not going to release the records because he or she is having a temper tantrum, we need somebody to forcefully get those -- demand the records, officially and forcefully demand the records. that is one. another one is we have had some unusual situations. once they get to somebody they get cleared up. there is no identifiable somebody. it usually ends up with one of the board members being contacted. i take the example of one guy who was sitting out there wondering what is going on? i am waiting and waiting. it turned out there was a

that is verythat is very positie chinese side.the election cycle in the united states president trump not want additional headwinds for the u.s. economy. that is a positive thing. where the u.s. side is not going to lessen its focus is on long-term structural issues that foreign investors, including american companies face in the china market. ambassador lighthizer has been incredibly consistent in saying we want to address these issues. this week in shanghai, both sides are going to be talking about more purchases of american agriculture and trying to find some way forward for a short-term deal. unfortunately, this broad, overarching trade deal that we first envisioned looks less and less likely as both sides face pressure, but hardened views in both capitals. for the u.s. negotiators, i think they want to see the start of a process. secretary mnuchin said we do not think we will have a result in shanghai, but we look forward to welcoming the chinese negotiators back to washington to continue the talks and hopefully have a short-

that is just the beginning. the problem is that as valuable , as this data is, it is very private.nd it belongs to patients. how do you make sure that they benefit from the research it enables and are not harmed if it gets into the wrong hands? that is an issue that has come up again and again, especially when hospital records have been hacked. a former u.k. science minister began at aerience very young age after he was born , blind in one eye. health care entrepreneur, he believes the nhs has an obligation to share its data with companies that want to analyze it. his company is signing up nhs hospitals to put patient records into a database that he brokers to health care companies. companies have to use the -- have to prove that their use of the data will lead to patient benefit. companies only get the results of data analysis, not any patient data. the nhs division called trust s get a financial return. time will tell whether the company can help the nhs turn patient records into gold. john lauerman bloomberg news, , london. emily: bloomberg john lauerman from the u.k. coming up,

the problem is, it is a question of whether it is civil serva nts is a question of whether it is civilembers according to reports in the russian media. the vessel was based in the manx region. russian defence ministry says the fire started as the sailors were taken by metric readings and an investigation into the incident is now under way. and an investigation is under way after a suspected stowaway fell into after a suspected stowaway fell into a london garden where a man was sunbathing. police said the stowaway had from a kenya airways flight. it is thought the man had hidden in the plane's landing gear and has raised questions about airport security. this is the kenya airways flight caught on camera on sunday. the plane was high in the sky over south london. a man believed to have hidden in the landing gear compartment at nairobi airport fell. his body landed in this property's back garden. and this photo shows extensive damage caused to a concrete path where the body fell. according to a neighbour, the body, believed to be of a man, hit the ground just a metre from a man who rents

>> that is obviously the risk. it is just a perspective of when, rather than is. there could be a lot less liquidity. given language from the last meeting and the fact that we had pushing for 25 bits, i think we will get a cut. you absolutely are spot on. a positive outcome does lower the probability and touch, but i think we are still moving one way. a little mores about how long this rally can last. we have been asking our viewers that question as well. can this be sustainable in any way? kindat goes back to what of asset class we are talking about. relieved.lly it means that we will get a dollar.ally weaker that is actually very constructive from a much more medium to long-term perspective. the key risk is if we see some of the reversals in language and sentiment that took place over the weekend. that will be the key thing to watch out for a. the biggest move is that we will potentially see higher highs and lower lows over the next he weeks. i was reading your notes and you had your early prediction. you now think that it is almost certain that the president wi

i am not saying this is good, this is bad, this is neutral. i'm just saying that this is no doubt something that is going to come up in any bigger discussion of vmt. >> do we have polling on gas tax, tolls, the popularity of those things? >> people are willing to pay a higher tax for infrastructure. yeah, we have seen that consistently in the polling. i completely agree with my colleagues about how to pay for it. i want to back up just a second and make sure i'm clear on what i was proposing earlier. i am not trying to outbid the democrats on this. i think we have a couple challenges as conservatives. one is that the administration themselves are not high on any kind of public/private partnership approach to this and they are not high on a federalist approach to this. i think we have work to do there and we need to convince them. we know that the democratic party is just try to spend a 2 to $3 trillion infrastructure bill and they are going to market it as a jobs bill. i think we can beat them politically if we are saying, yes, jobs is a very

that is why the fed is cutting again.: just as a reminder, interest rates inform so many of the decisions that we make, as people, as companies, as governments, ultimately, that is where everybody is looking to understand what to do next and how healthy the economy is, ultimately. liz: right. and that is the kind of thing that everybody knows. interest rates, they are very informative if you think about what it is telling you. to come up with an interest rate is based on economic growth, where might inflation be. you and i all care about growth. jobs, we all are about jobs. inflation, how much does it cost? all of those gauges are embedded in interest rates. it is kind of wonky bond math. interest rates start with just kind of a base rate. the fed's rates are the basis, and then you have bits from there. maybe we have more risk if we are holding this money with the treasury department. but it is really a true gauge. the stock market usually jumps off of that a little bit. companies do better when it is easier to get cheap

but the question is, is he a place holder or is he a true front-runner. he can determine that tonight. he can show that he's a front-runner if he comes out and takes command of the stage which he didn't do in miami. a friend of his told me that the miami debate performance was the best thing that could have happened for him because he is focusing on this. if that is true, and he has a strong performance, that will be good for him. but i think it is a different dynamic. i do not believe that the attacks will be the same. senator harris is is likely to to allow other people to go after joe biden like de blasio and michael bennet and she'll focus on trying to elevate herself. so totally different dynamic but the burden for him is very high. >> because he's standing on that stage right between cory booker and kamala harris. they leveled -- they went after him big time on race-related issues do you think they'll continue to do that. >> if you listen to cory booker, absolutely. and the visuals are going to be right there. what you'll see is joe biden, an older

now is the moment. is there any realistic prospect that fiscal is going to rescue europe? mark: certainly that is the argument, that german fiscal stimulus will come through in the next year. there are certain people that buy that. it is notl, i think going to come through next six months. it is not going to come through in time to change the negative growth picture. guy: the governor of the bank of england mark carney says global trade tensions have increased downside risk. kind of sounds obvious to me. ecb policy makers see no reason to rush into a july rate cut. you say that is already too late. mark: one of the things most therent last night is that brexit story is getting a little bit tedious, but everyone at the story is like, what is the bank of england doing? is the u.k. and emerging-market are developed market now? the only reason they should be hiking rate is if they are in emerging-market and they believe they are really running their currency. guy: they are talking about the fact that the risks are reasonably balance between a rate cut and rate hike. mark: that

it is easy to say it is hard to do. we need workers who can compete with the other advanced economies for the good jobs. it is manufacturing jobs. it is a lot of service jobs. it is not easy to do. fixing the educational system and improving it is a very challenging thing. i have spent no small a lot of time on that. -- no small amount of time on that. at the end of the day, the country is a's educational system. the people in the country are a product of the system. we need to get hours producing people who can compete in the global economy. that is at the bottom of the pile. it is an important driver. representative axne: iowa's per capital income is more than $1500 below the national's average. new york is almost $5,000 higher. i am concerned to much of the discussion focuses too much on the rural and urban divide. i know my district has rural and urban in it. i would like to raise the issue of regional shifts within the economic growth moving to the coast. could you talk about how that income inequality that you hav

this is bloomberg. ♪ is is bloomberg. ♪ xfinity mobile is a wireless network designed to save you moneyr you use your phone to get fit or to find the perfect gift, you'll use less data with a network that automatically connects to millions of wifi hotspots and the best lte everywhere else. so you save hundreds of dollars a year on your wireless bill. xfinity mobile has the best network. best devices. best value. simple. easy. awesome. click, call or visit a store today. shery: -- >> fed chairman jerome powell has made it clear he is preparing to cut rates for the first time in a decade due to the slowing global economy and stable labor markets at home. he told congress plenty of data supports the view that manufacturing trade and investment are all weak around the world and u.s. wages are not stoking inflation. they expect to -- the u.s. is said to investigate france's planned tax on big tech , which could possibly mean the u.s. has retaliatory tariffs. robert lighthizer will have a year to decide if a digital levy would hurt u.s. firms and outlined any tariff reactions. the u.s. has lo

it is rare -- that is on. -- that is odd. that is rare. it is unbelievable.ot since 1969 if we had that kind of unemployment. host: george in florida, independent. jerome in california, republican. caller: good morning. -- the gentleman who called in earlier and said what has that president done to hurt me, well he is a man with no integrity and less compassion for the american public. he has stolen, lied and cheated the american public. he only passed one bill and that is the tax cut. everything else he has done has been through the edict of the crown and not the people. he has written nothing but executive orders to get his stuff passed through. he is ruining a majority of our relations with foreign governments. he has brought this country to the highest deficit on record with recent headlines proving that. the myth --ased military industrial, purchasing overpriced jets that were overpriced for the time it was only -- and he has harmed the farmers with these tariffs. he also made that great statement that there is a sucker born every minute, once again true

if it is going to grow low 40% which is what this analyst is saying, there is operating leverage andpside to earnings from here. >> i find it interesting they jumped to now. 198 and now is the time. i don't disagree with you. but is there more? is that what you're saying >> you always say with apple stocks too cheap >> i said this about facebook, too. facebook was too cheap >> a lot of questioning. >> still very inexpensive and they have all kind of different, no doubt about it. but the idea that suddenly there is a bullishness now at 198 when there wasn't >> it should be. >> still could go higher >> you have to be quantitative, though didn't you read buy high and sell higher. >> we have a problem >> the company has spent 18 months throwing money at security so, now they've done that and presumably and they've talked about this they got the ability to focus, again, on instagram and what's app and some of the services and products that they can possibly monetize and speaking about adding to incremental margins. this is where it can happen. it's a somewhat, it's got a small premium to

he is telling another lie. that is two.e is standing in front of that podium speaking to christians, telling them ally. are christian, liars dangerous. host: this is john out of florida, independent. the morning. caller: good morning and let me say we all appreciate c-span giving us a voice. one of the biggest things, first of all, i live in an hoa in florida and i have several friends who are immigrants and they are astonished and upset people can walk across the border and think they are going to become citizens. the main issue here is law. you comegration act, here, you have a sponsor. you want to sponsor someone, maybe these hollywood people need to sponsor? obama used to say i have people on my side. if you do, change the law. we have laws and the left does not believe in law. host: you bring up former president obama, what were your thoughts on the daca program? the deferred action for childhood arrival program affecting some nearly 700,000 children brought here over the border when they were children? compassion inis

that is where the issue is. they feel apple has the competitive advantage because they are on the same platform. are not having to spend that 30% cut. there are also arguments on the others as well. emily: following the antitrust hearing last week, they sent some follow-up questions to the company and made this statement, "i was deeply troubled by the misleading answers and statements made. it is unclear if these responses stem from the lack of preparation, purposeful evasion, or the inability of the companies to bring appropriate witnesses for the hearing." what does it mean that you've got pressure from lawmakers, the president, and from the attorney general now opening this investigation into these companies? >> what you get when you have this level of pressure that goes across washington is that you make it easier to eventually do something to the companies. you have pressure on them, you have made them weaker, distracted them, and in many cases you have made them less popular in public. if you are going to

around 122 is a good level. what is interesting is the producers.hest ever iron ore price there is, leaner, meaner, it is dramatic. even if you produce less, profitability is going up. you have now here an environment where you have price support of your goods, one of the few goods with a price support, and you have no additional supply. you can create digitally almost everything there is. we have too much retail, consumption, everything. here we have underinvestment and that means people who are able to supply today are the beneficiaries. coming up, a key chance to spur a win. more on its economic survey and budgets do this week. this is bloomberg. ♪ . this is bloomberg. ♪ rishaad: let's have a look at the latest headlines. bowling offering $100 million to the families of those killed in the 737 max crashes. 346 people died. bloomberg intelligence says settling lawsuits on behalf of the victims could cost boeing $1 billion. --id: forest 8380tes have deployed the superjumbo to route which would normally be too short for the aircraft. it is covering

what is different this time? >> what is different is the well defined timetable.ain requirements. us tos the process for represent a lot of chinese companies. is an interesting change. >> there has been concerned about the quality of names that are listed. for the country that has the most unicorns after the u.s., what is your view on that? i think in terms of companies a lot of them are there not because they are the best companies in china but oftentimes because they are the ones that are ready for an ipo. we have gone through a lot of companies. think -- [inaudible] see thisch do you shifting the balance of listing from new york and hong kong to mainland china? the u.s. is still an attractive place given the opportunity to raise u.s. dollars. >> these are different markets. the u.s., hong kong, and china will have a different focus. company,e a large cap [inaudible] hong kong obviously has liquidity to the china market. unique is this model hong kong is probably your top pick. it will become a hard tech company. powerconductor companies, companies, china is the

tonight it is vital for biden, the most important thing is to show his age is not an issue. that he has -- his vital signs are strong and he knows how to respond. if he loses on that front, the rest of it doesn't matter. but if he wins on that front, then you could get to the policies. >> unlike last night, it is pretty diverse group of candidates tonight. >> it is a very diverse group of candidates. and i think that that will be on display. last night it was about ideology and tonight it is a debate about vision. although there will be clashes over health care. and i really do think for joe biden to david's point, in that first debate, so many voters had high expectations for him and they were really disappointed. they say it in different ways but they say he sounded too soft spoken and weren't sure if he was ready to take the fight to trump and he's going to have to prove that tonight and it seems like the last couple of weeks have been practice for that. really sharpening the attacks on harris and volleys back at the other candidates. and i think we'll see a very lively j

but that is not what this case is about.s about the commitments that facebook made and its violation of those commitments and that is what we're focused on here. >> that is part of my conversation with noah phillips. as you can imagine, there was no shortage of opinions on the ftc and facebook settlement. i got insight from bloomberg an associated director of research at the electronic frontier foundation. >> i think that the challenges that the order and the stipulations don't necessarily require facebook to prioritize privacy overall else. it simply requires that the company be truthful or not be iteptive in the ways collects consumer information. to your point, they could actually request phone numbers, the same phone numbers they used , and use them for targeting. they just couldn't do it under lely fore of so authentication. acyclic, companies can't lie about their practices, but nothing prevents them from being transparent about their practices and going ahead and doing so. >> there are other things coming down that fa

that is what is call about this. it is cool but the expectation.logist coming from one person. we can just listen to them. >> the raiders are headed to las vegas it is still possible they will keep their training camp facilities in napa. >> and online petition to change the date of hollowing has surpassed the goal. the change.org petition has more than 96,000 signatures. the goal was to get 75,000 signatures and send it to president trumps desk. it was started last year by the hollowing in costume association. the group wants to move hollowing to the last saturday of october for safety reasons. supporters say moving it will give parents the opportunity to go with parents trick-or- treating. halloween falls on a thursday this you. a lot of teachers weighing in saying the day after halloween is not a great day but i posed this question on my facebook page. it is a huge debate. people are very emotional on both sides. some people want to leave it. don't move holidays. a comes before all saints day. others say parents and working and everything. it is

he is not for anybody but himself, and that is the way it is going to be.f any people think it is going to be any different, it is just going to get worse. he cannot get better. it will not get better. he is a loser, that is what he is. host: we will go to tom in sussex, new jersey, republican line. good morning, tom. caller: hi, how are you doing? youfine, -- host: fine, thank you. caller: first of all, trump is not a republican. he is an outsider. he is looking to start a bunch of trouble, and guess what he is doing? he is starting it. the democrats really basically have picked of their people. i do not know what to say about it. it is like, you know, they think that, you know, this is going to work for them, and maybe it will. i don't know. i don't see it. so that is what i see, you know, i mean, all right, but i. -- bye-bye. host: thank you, tom. let's go to drew in the city. what part of the city are you from, drew? caller: i am from melbourne and. host: ok. go ahead. squad as a result of what happened with barack obama with the tea party. what is the

i'm not sure that is the most relevant question is, is it too big? emily: is it too big? much harder question to answer. it is big. it is bigger than most nations. in that sense, they are right. it is hard to say it is too big if you ask who they compete with. chineseompare them to companies they go up against in spend, companies like tencent are gargantuan, and not at risk in broken up by the chinese government. if you want facebook to compete with tencent successfully, breaking them up seems like a counterintuitive thing. emily: you buy the argument facebook has made, if you break up facebook, you will hurt u.s. competitiveness? >> i buy what you said except for one thing. and all u.s.ook companies should be regulated. there is a huge difference between being regulated and abiding by laws, antitrust, all the things the government has amassed of how to behave in a society with the rule of law. breaking it up does her the ability to compete, especially internationally. regulating it is what the government should be doing, and doing a better job, by the way. emily: as some

this is something the bank is something -- this is something the bank is going to have to try to scramble to get out of. they are relying mainly now on revenue growth from europe, which is in somewhat of a slowdown. alix: which all hinges on the fact, will interest rate cuts from central banks spur loan capex?and that is what the european banks need to happen. peggy: but is it going to happen? i'm not so convinced, especially on the corporate side. i don't know what an interest rate cut really does for me. in europe, you look at further negative rates. i don't think that is going to be helpful for the banks. i think that is why you see deutsche bank talking pretty vociferously about having some of those overnight loans capped at a different interest rate from what the standard is. i think you're seeing the pressure in the banks, and they are clearly looking for some relief from the ecb that many -- that may not be what they want. alix: there's an estimate that something like 11 billion euros would be lost to banks by 2020 without the tiering. our third story is the disaster is the disastr

it is called beauty, it is drizzling water on a lamp, and what you see is then the spectral colours.bit, you see, oh, is it like fire, is ita bit, you see, oh, is it like fire, is it a rainbow? and it is very engaging to look at. and interestingly, the person standing next to you or over there, obviously because a drop of water in a colour is depending on your eye, the person see something else. and it'sjust like it is with rainbows. it'sjust like it is with rainbows. it'sjust like we are having that experience together, and i think it is magnificent. a rainbow is ephemeral, isn't it? i mean, is there a message on that? yes, but the idea which i have a personal, very strong ephemeral, immaterial experience, so do you, standing over there. but it's not the same as standing together. so when i did the work, i was very interested, could we dematerialised the kind of objects? because art is often here is a branch, solid, on a pedestal. i can walk around it, but the artwork is there. maybe i could suggest if i dematerialised the artwork, it is the relationship. it is the evaluation. am i

maria: the debt pile is huge. he is aware of this. at the same time, you look at the surplus target 3.5% of gdp until the end of 2022. he does not want to focus on debt relief. reliefs that the term does not work for the european institutions. instead he wants to look at the growth denominator of the equation. he wants to grow the economy quicker and if he does that he hopes that the tax cuts will pay for themselves. , anddea is can he do this the european commission play ball and will investors stay by his side. if you look at greek assets, it does look like the market likes the idea as a pro business government in athens. stocks have rallied and yields are -- the compression is spectacular. david: maria tadeo, thank you so much for reporting from will athens -- from athens. , joe go to washington biden back on his heels, a lot of apologizing going on. sahil: he is still the front runner but he spent a lot of this weekend walking back comments he made 18 days prior about segregation, about his work with segregationist senators in the

is. goal is to land not only the next man, but the first woman on the surface of the moon. part of that is really going to be to prove the technologies we need to do to get to mars. the ultimate goal is to get to mars and to plant an american flag on the surface of mars, which we will see in our lifetimes. it is a very exciting time for nasa and our country for doing that. emily: where is your funding? we know you asked for supplement budget requests, $1.6 billion. tell us where that stands. jeff: back in those days, nasa had over 4% of the federal budget. now we have less than 0.5% of the federal budget. we have a lot of partners. jeff bezos a wonderful partner with nasa. we are driving a thriving commercial sector in space. that's what's helping us get there with a lot less taxpayer dollars. it has been a good use of taxpayer money today. we are looking for an additional $1.6 billion for this year to help secure a lander and other things to get started on right away to help us get back

is baked in. charles: that is the market side but i'm talking about vis-a-vis being reelected. >> as it relates to game theory the president is handling it brilliantly. he is raising a ton of money. he has a narrative set up for an economic miracle taking place in the united states. he will according to my prediction solve up the trade situation with china next two or three months. that narrative, wave will be unbelievably positive for him. he will right side 40 years of trade imbalances. he has the economy growing 2 1/2, 3 1/2% depending on the quarter print. as you know we were discussing the jobs are legendary. there are more jobs available than people looking for a job. if someone lose as job, bam, they quickly find one. charles: to your point, couple hours ago the new york fed released their monthly consumer survey, sits at record amount of americans are confident they can find a new job if they lost one tomorrow. that is amazing. to me that is better than any poll you could ever take. >> aga

this is how she is going to do it. so when the families write to the missing soldier's office when she write to washington, d.c., they are going to be giving information, name, unit, state that they -- that the soldier came from. that information is ultimately published on one of these lists. this is what's known as the roll of missing men. this information is compiled and sent back out to northern cities to northern towns, printed in newspapers, put up on public bulletin boards, the idea was when this information would be sent out to the country there is a small note attached to the roll of missing men that says for anyone who may recognize a name on this list and know what happened to them, please write to the missing soldier's office miss claira bart and the 488 and a half seventh street in washington, d.c. that information would be compiled and sent to the family to give the families some form of closure. ultimately this is what we believe the office to have looked like at the time. there were no photographs taken

this is, he is has not been a great mayor. >> right. he is awful mayor.the new york post." one paper that really reports on new york city in all its dimensions, especially the quality of life. if you read that editorial, it's a litany of failure from the failure of his program to help rotten public schools, to the housing to the homeless problem. it is all, amazing that if you say the word progressive, somehow everyone overlooks your failures. melissa: and there are things even more serious. he gave the article want on to outline a whole bunch of things as you said. he gave his wife $850 million for her thrive new york city program. when he was asked how that when, you know, they weren't able to produce any measureable results. >> that is story. melissa: with all that money. >> that is basically the story of his, you know, his time in office. very few results. lots of money. lots of strengthening. the sort of orthodox democratic senators like unions. you forgot the other one, he has groundhog blood. melissa: yeah. oh, that is so true. he, groundhog day he

the imp is, as you know, is a summary of what the academy is doing, where it is going, and what it's plans are for these two images are really the most important part of the story. what the academy is doing is vacating nine properties, many of which were at the request on negotiation with the city, based on their location. we are vacating properties in the north beach area, in particular and consolidating against the vanness quarters. there are nine buildings, three properties all in that court order. all of which have good ties to existing academy uses in in that corridor. the current fashion school, we are adding a new building that is added to the fashion school for the fashion program. rather than having students travel across the city they will be able to walk a short distance to the new fashion building. there is a housing metering provision in the develop an agreement that you will see, it will come to you that it requires the academy provided for its student population. i think it is important, as a preview, currently the development agreement as it is written and will come t

what is important and what is not? >> until we get military escalation, then overall, the negative fundamentals will continue to weigh on oil. east are around middle probably underpriced. if there is a flareup, this will cause a massive surge in oil. mark. all right, good stuff there. mark cudmore out of singapore. coming up on the program, citigroup's head of health care research joining us on the program to talk about his top picks in the sector. we also discussed his strategy and how it is affected by what is going on with government and conditions on the chinese mainland. stocks the outlook for in the philippines as president duterte keeps his eye on the stocks. let's focus more on the philippines now. vowingnt rodrigo duterte to reimpose the death penalty in his war on drugs and raise levees on alcohol and tobacco. corporateans to slash income taxes as he enters the second half of his six-year term. ofid: all against a backdrop a market that reentered a bull market. manila, theut of vpn head of research. good to s

do you know what is' is to be are is international covenant of civil and political rights is a charter for human rights the government is saying that mr chairman i was not ratified i'm not with china i'm talking about hong kong because the gay keep it as in hong kong but i'm talking about as one can if they are selling are going to try and offer different sort of about kind of fair trial that define turning can expect in the mainland turn on the mainland if there is no guarantee that there will be the minimum requirements of article 14 of i.c. c.p.o. it is written in the law there then the court has no business ordering a extradition even if a court were to all the next edition the chief executive would veto it because as i keep repeating the telling you that the chivas say it has no power to order extradition but has power to veto an order for extradition are you following that unlikely the chief executive is unlike one to do so i request from china based on what fact you say those are like she's an appointee of china so isn't she so so she got to stand up to china suddenly and say th

that is a reality. that is a reality. you can see the crisis, the millions in venezuela have been forced to be out about country, like me. 4 million so far. and if maduro continues in power, that number could go up million, and if we do our next year, next year it will be close to 8 million. , this is the largest refugee crisis on this continent's. the continent has not seen this in the past. this is the second one after the .yrian refugee crisis we need to stop this. we need to stop this. it's enough. it enough. the people of venezuela are suffering. do notple of venezuela find a future inside of venezuela. so, with this situation, and this would be my second point -- just keep this in mind -- the only way to resolve the crisis is taking maduro out of power. bringing an end to the dictatorship in venezuela. the only way. restore democracy in our country. and that is why we have been fighting in our country. as you know, at the beginning of , interim president juan guaido assumed the presidency of venezuela, following a c

that is not what america is about.he aoc and three they have become defacto speakers for the house. nancy pelosi is trying to rein that in. that is not where her party is anymore. president trump is saying we want the american dream. we want to limit taxes. we want to limit government. we want america as it is. it is doing pretty well for everybody. we've seen that with the numbers, let's keep it going. lauren: you might be right. joe biden said there is a need to impeach to get more information. so even moderates might be going further left where you say the democratic party is. so good to talk you. >> thanks for having me. connell: get back to breaking news on corporations we have for you this hour. amazon is down 2% in the trade after-hours. it missed on its bottom line. amazon spending a lot of money. making a lot of money to be fair, deirdre bolton. cutting into profit. good numbers for alphabet. let's talk more about amazon. >> two trouble spots you alluded to, part of the company's earnings miss is higher costs

it is -- samsung phones. it is ramping up.tchat is now that abe has won the mandate, perhaps he can back off on pull boosting rhetoric and get to work on finding some sort of agreement, at least diplomatic bandage with south korea. our chiefthat is north asia correspondent stephen engle. thank you so much. our next guest says it the rest of july, investors must contend with two things. an uncertain earnings season and central-bank policy as european central bank and the federal reserve meet. hannah anderson is global market strategist with jp morgan asset management and she joins us now from hong kong. let's start with the fed. the markets have been very worked up about getting a 50 basis point cut for the fed on july 31, especially after neel kashkari, a day or two after the meeting, said he was in favor of a 50 basis point cut. that is overdoing it. can the markets be satisfied fed can bonds rally, if the does the expected 25 basis cut? hannah: i think the size of the cut has been changing day to day. investors have gotten e

facebook is different, is that they own it.e surveying point, facebook is superpowerful now and mark zuckerberg is in much of it. gates,parison to bill super interesting. emily: fascinating anecdote. tell us about it. alistair: generally, it was basically that bill gates went through three stages of his career. one was innovator. one was monopolist. and one was a philanthropist. if you compared to where mark zuckerberg is, he has gone through the innovation stage. he's at a regulatory crossroads right now and a budding philanthropist. could he become a philanthropist in the view of the world? the question is still out. emily: the comparison pegs zuckerberg as un-innovative. and next to jeff bezos and elon musk, who were examples of still innovating. kurt: we heard through reporting of the story that when the slide deck was presented to mark zuckerberg, there was a slide that showed him and bill gates as former innovators whereas bezos and musk were current innovators and you could hear a pin drop. emily: you used the word incre

that is where our sweet spot is.in terms of you being a more of them messaging, can you describe that -- the ban messaging -- than messaging, can you describe that? if you are rolling out a new product, you download our kids. you -- our kit. you plug and play and get chat messaging running in hours. , ourghout the process social engineering team will engage to really give excellent service. when you are rolling out, you will fill confident the revamp will go well. so that is how we work. and we engage in commercial, legal, all of those things. david: i know you can't talk about specific revenues. but compared to last year, you are on track for what type of growth? john: we have been tripling for the last couple of years which is why we have been able to raise a significant round in may. investors are excited about our growth rate and expect us to go down that. david: and what is the split? john: that is where our company is very unique. if you look at our revenue distribution, a third comes from the u.s., a third fro

this is not true what you said wasn't true it is it is not true that this is the only success it is true that there was a momentum into a bow and 15 the former head of our secret service mr marson just today or yesterday in the built side and said he didn't join the christian democratic party to take in 1800000 arabic people into germany this is what he said he's from the c.d.u. and i think this is a very this is a very important point because this started all in 2015 and of. of course in 2015 when marco close didn't close the borders open it whatever way take it but lead in all those people into our country and this was of course a moment when a lot of people the very unsatisfied that there is with the politics and they didn't they they did want to have a change on that point and this is such a way off was that there was supporting us but that's not the only reason for us text you just supporting the point i made which is basically that this is your one policy last summer it became pretty clear in interviews that your co-leader alexander garland gave that you really don't have poli

this is disgusting. there is no other way to put it. as an asian american who has spent his career in public service i certainly heard, myself, people say, go back to your country. i was born in this country. i have served this country, my family has served this country. and to have a president who would condone this kind of behavior and actually see it as a political strategy is nothing more -- nothing you can say other than the fact that this is disgusting. what is important to understand is this kind of conduct is not tolerated in any other setting. if you try to do this in your work place you would be fired. if your child did this in his school he would be sent home. so we're long past the point of this president being a role model but to try to use racism as a political strategy is just -- we've now gone to a brand new level, brand new low in this country. >> susan, breitbart's front page shows where sort of this is all going, the headline is "dragon energy returns." explain that. >> scorched earth politics. this is despicable. wha