j.p. morgan chase initiative are twofold. we want to create more inclusive advocacy and community development communities. also, we want to expand the way people think about diversity and inclusion. what are some of the highlights of our conference assess ability initiative? we will have a concierge service for all of the conference participants. there will be a concierge booth at all of our events. there will be scholarships provided for travel to the conferences and for the conference registration. also there will be integration into the conference planning sessions, panel discussions and award ceremonies, that is subject matter experts on disability issues serving on the panels, presenters themselves with disabilities and similar to what maryland was just saying, we will make sure in sponsoring the event there is close captioning, cart and asl interpreters. also ladies and gentlemen, one of the other components, we want to make sure there are specific panel discussions on disability related topics. with this initiative, j.

j.p. morgan chase along with w.i.t.actively intervening to make community development and policy conferences more accessible to and inclusive of people with disabilities. large civil rights and community development conferences help to set at agendaa for economic opportunity. the conferences we've selected attract key decision makers for the nonprofit, business, and public sector kmunltcommunities. they aim to integrate access issues into the conference content enable people with disabilities to fully participate in the critical national discussions of economic opportunity and financial inclusion. to parir paraphrase one of our colleagues from w.i.t., he is really excite the because the conference that's we're working with will give people with disabilities a seat at the table. i'm excited about working with many of you all in this room in the days to come. and i'd also like to encourage you to continue to not only learn about our initiative but for some of you in this room to apply for some of the scholarship that's ma

j.p. morgan chase. i read every now and then people say j.p. morgan is threatening -- we're not threatening anything. whatever the laws of the land are is what we follow. >> various scenarios you've looked at longer term, five years in advance, are there any scenarios where you consider the breakdown of the eurozone? >> you know, unfortunately that could be one of the fat tail outcomes of a brexit. because when you go to europe, and i was in italy recently, netherlands going to have a vote, italy has a very important referendum, germany's going to have a vote, new leadership in britain, those things cause a lot of uncertainty about what do people want. netherlands have referendum like brexit. that's to me is one of those things out there that could possibly happen. it may take more than five years, but it may very well happen. >> on your investor call the cfo mary ann lake specifically referring to brexit said, we're not going to be at a competitive disadvantage, if anything we feel like we're in a position of strength. so this uncertainty in eu

j.p. morgan chase to manage its -- tracy, what has been the rush to market? what has been driving it? thether gulf and we have another gulf bond sale. we have seen a rush to issue new debt thanks to lower oil prices. a lot of companies have growing deficit, growing budget gaps that they need to fill. indeed, we have seen bahrain tap the euro bond market. twice already. this would be the third sale. we are expecting this relatively soon, but not until the august lull. even though we have had billions of dollars worth of new supply, it has been a good environment for selling debt. if you look at the bloomberg index of u.s.-dollar denominated bonds, you can see it reached a record last week. that was helped by higher oil prices but if you look at a longer-term chart you can see that even for the past few months when oil was in a bear market that index was doing pretty well. there is a lot of investor demand for these assets. yousef: what about the broader emerging market space. they generally been on a tear as investors chase yields. where does it go from here? >> it is difficulto bt not

j.p. morgan chase has produced a list that includes the need to ease capital controls and cut back on intervention. hillary clinton has ripped into donald trump's economic plan, saying it will only benefit the wealthiest. clinton didn't lay out any new policies in her speech, trying instead to undermine trump's claim that his business experience gives him the edge. >> when it comes to creating jobs, i would argue it is not even close. even conservative experts say trend's agenda will pull our economy back into recession. nejra: american swimmer michael phelps has become the most successful olympian ever, surpassing eight 2000-year-old record. his victory in the 200 meter individual medley earned him his 22nd overall and that colton one i had of -- and that puts him when i head of an athlete who won events including shield carrying. global news 24 hours a day. i'm nejra cehic and this is bloomberg. francine: thank you so much. we just got some breaking news out of italy. germany showed that we had better than expected gdp figures. another story for the italian economy, stagnating in the second quar

j.p. morgan chase. but one company stood by the republicans regardless of their candidate: "robinson's turd polish," their slogan: "it's all you've got, so make it shiny!" ( cheers and applause ) polish that thing up. it's a turd you can see your face in. ( laughter ) and trump hammered democrats for being deceptive corporate cronies. >> so, if you want to hear the corporate spin, the carefully- myths, the democrats are holding their convention next week. >> stephen: but if you want hastily-assembled lies and no corporate sponsors, you've come to the right place! ( cheers and applause ) ta-da! ( cheers and applause ) i got the hips. got the hips. ( cheers and applause ) i don't know what that means. donald did not do tht point, i have to be honest. he didn't do this. now, trump's core message was clear: hillary clinton, bad. >> hillary clinton is proposing mass amnesty, mass immigration and mass lawlessness. my opponent wants to essentially abolish the second amendment. hillary clinton's message is that

j.p. morgan chase, bank of america and goldman sachs.he judge in the massachusetts case involving sumner redstone has set a trial date for october 3. the trial over the ouster of the viacom ceo will run for five days. at issue -- whether he was ousted from a trust that would control viacom. that is your bloomberg business flash of they. now to the surprise from valeant -- they reported earnings that fell short of estimates -- of estimates that shares are climbing. and optimisticg view of the companies or action. guest: i'm looking forward spending more times -- more time -- vonnie: are bloomberg reporter spoke with him after the report. we have had many positive earnings reports from valiant. what makes you think they can turn things around in the second half? guest: i'm not entirely sure. they have a lot to do and they have to drive earnings growth and they have to drive it out of his this is that are declining more persistent as leader may have in the past. but what he has been sticking to is that there is a seasonality to their busine

j.p. morgan chase because j.p. morgan chase as a company has made employment of people with disabilities one of their top priorities. he is an incredible individual who served in public life, but now at the bank, he is enabling people to have a better future. they're involved in something you will hear about that is unbelievably exciting. i will put in a plug because i have a pet peeve. here it is -- from people who are disenfranchised and poor in america, we tend to sit in our silos. people who are hispanic, go to la raza. people who are african-american, go to the naacp. people with disabilities are with an individual disability organization generally surrounding their one disability they identify with. i believe very strongly that the power and future is about inclusion and integration, so we tear down those silos and enable people with disabilities to participate. if they are african-american, fully in the naacp or any other organization. hispanic, to be able to participate in la raza. people with other ethnicit

j.p. morgan chase. every now and then they'll ask if we're ready. we're not the enemy.tever the laws of the land are we will follow. that may require us to do it differently then than today. >> when we come back, battle of the billionaires. we have heard from quite a few billionaires. >> we have and that brings us to the twitter and facebook question today. which billionaire has more sway on u.s. politics, is it bloomberg, mark cuban, warren buffett, donald trump. tell us what you think. we're going to bring results later in the show. you won't see these folks at the post office. they have businesses to run. they have passions to pursue. how do they avoid trips to the post office? stamps.com mail letters, ship packages, all the services of the post office right on your computer. get a 4 week trial, plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again. >>> turning now to today's political news, warren buffett joining hillary clinton on the campaign trail. introduced the democratic nominee and used his speech

j.p. morgan chase produced its still to do list, which includes the need to ease capital controls and cutrvention. australia's treasurer has rejected claims that xenophobia and protectionism drove his decision to block the sale of the state owned power grid to chinese bidders. scott morrison says national security was the sole reason for rejecting the bid. the sale could have raised almost 8 billion u.s. dollars. perry clinton has ripped into donald trump's economic plan, saying it will only benefit the wealthiest while increasing the burden on the middle class. >> when it comes to creating jobs, i would argue it's not even close. even conservative experts say trumps agenda will pull our economy back into recession. hong kong's haslinda: richest man, one of the biggest investors in the u.k., has warned that the fallout from britain's decision to leave the eu will last for years. leica chang says the move will bring with a considerable challenge for the u.k. and for europe. he's been writing on britain, which is the biggest profit generator of the billionaire's business empire. japan's a s

j.p. morgan chase? can theyeg either one or the other? >> patrick collison: i think they can be part of it, they can be part of sort of the infrastructure that powers it. and, again, we work with wells fargo and many other banks today. but i think that they can only be part of it. they can't be sort of the agents driving it forward. >> stahl: he says that over one in four americans online have used stripe in the last year, including on sites like facebook and twitter, and department stores like saks and macy's. apple pay and android pay, and it's already helped hundreds of thousands of businesses accept money online. >> patrick collison: there you go! >> stahl: oh! even though stripe has some stiff competition, like paypal, the brothers have made two covers of forbes and the four- year-old company is now valued at $5 billion. not bad for two brothers who not long ago had to beg their bank branch for approval. >> john collison: when you have a major technological shift like this, it's not clear that automatically, the existing financial pl

j.p. morgan chase are doing. but also the disability organizations of which there's more than 100 different really good national disability rights organizations or service organizations largely around one particular disability, every single one of these ceos and presidents is white. every single one. so the first question is how do we break down the barriers so that people who are disenfranchised can work together towards making that greater success in the economy and in other places like criminal justice reform where people thought that's a black issue and they didn't realize, no, it's a disability issue also and here's how. and if you're minority or immigrant and you have a disability, all the more likelihood for the school-to-prison pipeline. the first is how to break down the barriers. the second is we have great success with the candidate questionnaire to the presidential candidates. hillary clinton, jeb bush and others gave incredibly thorough answers. donald trump hasn't answered it yet. but we would like

j.p. morgan chase has produced a still to do list, which includes easing capital controls.ed toon has donald trump's economic plan, saying it will increase the burden on the middle-class. she didn't outline any new policies, instead trying to undermine donald trump. >> when it comes to creating jobs, i would argue it's not even close. even conservative experts say trump's agenda will pull our economy back into recession. japan's sluggish economy is stuck in an almost impossible position. global shareing to fund managers, who oversees 30 billion u.ssd. he thinks there is little evidence that prime minister shinzo abe's stimulus measures are working and says the country needs to make changes to the labor market and welcome new migrants. american swimmer michael phelps has become the most successful olympian ever, surpassing a 2000-year-old record. his medal earned him a 13th solo gold medal, his 22nd overall, including relays. and puts them ahead of an ancient roman. global news, 24 hours a day, powered by our 2400 journalists in more than 150 news bureaus around the world. i

j.p. morgan chase and golden saks fifth avenue and a lot of people are businesses those businesses like thisnd caterer to families saturday and sunday's seeing parents with their kids and then later at night people coming out on a date or hanging outs. >> can you tell us about ping-pong is the main event with the entertainment event we're not talking about tables permitted tables. >> they know that. >> i'm curious what is your entertainment befsz the pi pink polk street what's your thoughtful. >> i wasn't sure we're and then entertainment venue until i got a call from maya angelou yet but approximately we are that's fine we're here. >> the djs and oh, we have djs. >> we play pandora and late at night not djs. >> you need a permitted i'm curious are us programming in advertise to the public with ping-pong of entertainment. >> microphone. >> sorry but use a lot of local djs with work with us they have their own logical thing we follow them it is very you know contained and one time a apprentices dj and again local and had like garter people. >> is there a dance floor. >> no dance floor. >> mor

j.p. morgan chase earlier this year the securitization is the first that has gone to market under what is called the fdic safe harbor rule. the safe harbor rule is about if you meet the requirements of fdic that when into effect in 2010, the collateral would be protected that supports the bonds that are bought by private investors in the event the issuer goes bankrupt. in addition to that safe harbor, the fdic rules require an alignment of interests in the servicing issue. it requires service to compensation to include incentives for servicing and loss mitigation action. this deal that went to market that is out there really has adopted a compensation structure in a fee service structure similar to the options that ed spoke about and put up in the 2011 white paper that is really interesting and something we all should be both interested in an following. and set of that flat 25 basis point servicing fee io strip, it is a compensation structure in three parts. it establishes a base servicing fee for performing loans of $19 a month per loan. incentives, there are monetary incentives to the s

j.p. morgan chase.alists and analysts in more than one 20 countries, this is bloomberg . matt: the fomc will release the minutes from its july meeting in under an hour. iticymakers wants to see move toward its 2% goal, because morgan stanley says we cannot count on any other major economy to lead the world back from the break of inflation. >> the fed policy has to promote inflation to reach the target. therefore, you cannot talk about a preemptive rate hike because it would kill this little baby called inflation, which we tried to nurse. matt: let us bring in joachim fels. your former colleagues saying that the u.s. has to lead the world back to inflation. do you agree? joachim: i agree that they have to leave the world back to inflation and i think they still have a lot of work to do. you saw the latest release for core inflation ticked down. what thetion, which fed is targeting, is way below the target. i think the fed has its work cut out. i think that means it will be very patient and very cautious

j.p. morgan chase and bank of america are embracing this and there is nothing more meaningful than to go to the office , see the young people they trained can relate with such pride the fact that they now got a job and are considering. these are quotes with incredible talent and ability but who have difficulty perhaps in the interview or indicating their passion for the business and now they are employed though i think this can take place across a range of disabilities and this is why i say once again and david said as well when you focus on the ability rather than the disability it's amazing what we can all accomplish together. >> i'm going to take moderators privilege and ask a question which is that people with disabilities really want to be seen as equal and really want to gain political power. each of you really understand what political power takes on advice you have to the disabilitycommunity writ large, no matter what the disability is, physical, mental, health , any other disability for our community to be taken seriously as a constituency group in the united states? >> i will take

j.p. morgan chase earlier this year the securitization is the first that has gone to market under what is called the fdic safe harbor rule. the safe harbor rule is about if you meet the requirements of fdic that when into effect in 2010, the collateral would be protected that supports the bonds that are bought by private investors in the event the issuer goes bankrupt. harbor,ion to that safe the fdic rules require an alignment of interests in the servicing issue. it requires service to compensation to include incentives for servicing and loss mitigation action. this deal that went to market that is out there really has adopted a compensation structure in a fee service structure similar to the options that ed spoke about and put up in the 2011 white paper that is really interesting and something we all should be both interested in an following. and set of that flat 25 basis strip, iticing fee io is a compensation structure in three parts. it establishes a base servicing fee for performing loans of $19 a month per loan. incentives, there are monetary incentives to the servicer when that lo

j.p. morgan chase and golden saks fifth avenue and a lot of people are businesses those businesses like thisnd caterer to families saturday and sunday's seeing parents with their kids and then later at night people coming out on a date or hanging outs. >> can you tell us about ping-pong is the main event with the entertainment event we're not talking about tables permitted tables. >> they know that. >> i'm curious what is your entertainment befsz the pi pink polk street what's your thoughtful. >> i wasn't sure we're and then entertainment venue until i got a call from maya angelou yet but approximately we are that's fine we're here. >> the djs and oh, we have djs. >> we play pandora and late at night not djs. >> you need a permitted i'm curious are us programming in advertise to the public with ping-pong of entertainment. >> microphone. >> sorry but use a lot of local djs with work with us they have their own logical thing we follow them it is very you know contained and one time a apprentices dj and again local and had like garter people. >> is there a dance floor. >> no dance floor. >> mor

j.p. morgan and chase.hey came out with series of common sense principles, and what they as hast -- what they espoused been what our organization has been promoting for the last 45 years. the common sense name was practical for this issuance. out therehat they put is a lot of what companies have been doing for years, some of the more progressive and established companies. we got feedback on these principles, saying that it is great that they are out there, but we have been doing this for years, so what is new? what is new is you have the names that you just cited, you have an activist investor in the probablythis group was the first time they got together and said here is what we believe then and here is how companies should be run and here is what we think is important. host: here is some of those principles that this group came up with. board of directors should be truly independent from their company. boards should be diverse and have enough turnover to make sure that they remain fresh. boards should hav