jeremy corbyn was lackluster in their view in the way he campaigned.his is why we cannot carry on with him as leader. he is one of the factors that many labor voters did not come out to support the remain campaign. to be attracted to a ukip style of message. that triggered the labor leadership contest. >> nine years ago, tony blair left the job in a grand style with applause ringing out from all sides in the commons. the idea obviously appealed to david cameron. he worked out how to bring to a close his tenure. the 30th of july saw his 182nd and final pmq's. prime minister cameron: mr. speaker i had meetings this , morning. other than one meeting this afternoon with her majesty the queen, the diary of the rest of my day is remarkably light. >> i have been watching five ime minister's and several ex-prime minister's. i have seen him achieving mastery of that dispatch box. unparalleled in my time. prime minister cameron: this session does have some admirers. i met mayor bloomberg in new york. everyone knew mike bloomberg. no one had a clue who i was unti

jeremy corbyn has only been in the job since last year.owes his position to grassroots support, but he is under pressure from the party, which does not believe he can win a general election against the currently ruling conservatives. the olympic games may be over, but scandal continues for ryan lochte. he has lost a lucrative sponsorship deal with speedo after he admitted to exaggerating a story about being robbed in rio. the company is donating $50,000 that would have gone to lochte to the charity save the children. preparations for the paralympics are beginning. commentators are giving their verdict on whether rio rose to the challenge of putting on the world's biggest sporting events. reporter: this was the scene at copacabana beach when rio won the olympic bid. tens of thousands watched the decision live from a giant tv screen. then-president cried when he heard the news. euphoricrs later, the celebrations seem like a distant memory. lula faces trial for obstructing justice. efma recep -- dilma rouss could be impeached. e the world is

but an embattled jeremy corbyn refused to resign. a few prime minister has months left.ill he leave a one nation legacy and will that one nation of thebe these scrapping tax, the banning of contracts, and the canceling of the cuts to universal credit? >> i have to say, he talks about job insecurity. it might be in my party from interest, for heavens sake, man, go. >> david cameron stepped up the mockery as he welcomed the mp. >> she may be in the shadow cabinet by the end of the day. >> the conservatives could not afford to gloat too much. they had their own leadership difficulties. candidates came forward as potential prime ministers. one declared herself like this. >> my pitch is very simple. i'm theresa may and i'm the best person to be prime minister. >> and the former london mayor, the always lovely boris johnson was assumed to seek the top job. boris johnson was knifed politically by the justice minister. >> what he did not have is the capacity to build and lead the team. >> the loss of support from a former ally -- led to the shocking withdrawal from the contest t

jeremy corbyn is favored to retain his job.ean lawmakers have accused him of failing to campaign effectively to keep the u.k. in the eu. turkey's president is the u.s.ng about position, over starting the country strategic -- overshadowing the country strategic partnership. rio areer olympics in over. that is japan's prime minister dressed as a nintendo game character, super mario. he was happy closing families for a preview of the 20 20th olympics, which will be held in tokyo. the u.s. took the most gold medals with china is second and great britain, third. this is bloomberg. tom: thank you so much. ands look at equities commodities. maybe we will see that through the speech on friday. the euro, 113, back a little bit. oil, lower. on to the next screen. there is where the dow is. down of it. telestrate this morning, not back to 95. what you have? dollare: the strengthening. growth, her says believes, will pick up. i have a little bit of pound action against the euro. tom: i thought that was a great discussion moments ago. let's

they give jeremy corbyn a negative rating.ident donald tusk has a credibility issue with russia. he says russia's version of events in crimea is not credible. accused president ukraine of killing russian servicemen in crimea and threatened a very serious response. russia annexed crimea in 2014. the u.s. is moving to improve ties with serbia. joe biden says they have agreed on a new extradition treaty and pushed serbia to improve ties with kosovo. that is one of the key conditions for joining the european union. a linked document could make relations worst between angela merkel and turkey's president. according to an internal government merkel's views turkey is a central platform for terrorism in the middle east. turkey calls the report an indication of a twisted mentality. new security measures for this year's oktoberfest. munich is banning backpacks and other large bags from the us years celebrations. last month germany was rocked by a series of attacks. donohoe.ney turning back to markets and more fallout in the brexit road.

british opposition leader jeremy corbyn says the labour party to create one million new jobs and buildew homes. he is fighting off the challenge to his leadership of the party. a new opinion poll shows labour has the support of 20% of voters, 14% behind the conservatives. and in south africa, there are problems with the ruling african national congress. local election results show that anc trailing the main opposition party in the capital and its biggest city. leaders for the overall national vote, they have been hurt by a succession of scandals implicating president jacob zuma. gains low 18 for the pound, since april 2015. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am courtney collins, this is bloomberg. much.thank you very let's get more insight into today's reaction with the boe. has moved to stimulate the economy. we have the head of global equities system. has $126 billion in assets under management. matthew and i have been building while we were watching courtney. we like the bank of england, going back from 2011.

there is in-house fighting as moderates and other leaders decide whether to replace jeremy corbyn. running against owen smith. police have held people for belgium on in terrorism suspicion. nbc will make it up to theirisers who see coverage comprised. audiences down from the 2012 olympics. global news 24 hours a day. from bloomberg world headquarters in new york, i am mark crumpton. "bloomberg west" is next. ♪ is "bloomberg west." i'm emily chang. talking about virtual reality -- broadcastingeality startup has raised $80 million with most money coming from asian investors including softbank. broadcast games and make a push into foreign markets. joining us, brad allen. thanks for joining us. you specialize in live, longform vr events like the u.s. open, kentucky derby, coldplay concerts. tell me exactly how it works. we have stereo topic technologyereoscopic that is perfect for virtual reality. me about the fear he behind live events and why virtual reality can make them so much better. live events -- you cannot be and always places at once. whether it is a live sports event, a conc

he is completely opposed to what jeremy corbyn stands for, and he is cozying up to those who attacked the conservatives. so, it's big for you that we have a muslim mayor, but we judge him not by his skin color or his religion, but by his politics and by what he is going to do. that is our definition. [applause] because this is not a big deal in britain. lots of members of parliament -- not lots but a fair amount of muslim, of muslim origin, a conservative member of the government, cabinet, the business secretary, no less, is of muslim origin. the former chair person of the conservative party who resigned at chair person i, is a muslim and they come like the new mayor from humble backgrounds. the fathers were first generation migrants. so it's a huge mistake to fall into the trap of thinking automatically identity is the -- the politics of identity are progressive. sometimes they are. obviously in "black lives matter," it's a huge movement and a very welcome movement and a movement which is broken with all the opportunityist below politicians who hung on the coattails of democratic pol

is an advisor to jeremy corbyn and has been on the program many times and she writes concerns at approachesindustrial strategy can lead to incumbent companies and sectors winning unwanted favors from governments through persistent lobbying. the bottom line is that the argument should be the best way to help drive growth. let's get to our guests here in london. simon wells and simon kennedy. simon kennedy, how much of the debate in the u.k. has switched todemanding -- switched abandoning austerity? simon kennedy: i think the debate has changed but whether that is followed by realities is a different thing. neededonomies argue we but now it is delayed. perhaps, austerity is on the shelf for a while but that is the debate. philip hammond has that job. do we know, do we understand fully what the main difference between philip hammond and george osborne will be? simon wells: it is a very different economic environment. when your economy is crippled by there is a much stronger public policy role and potential for the public-sector investment to pick up the flak. so we have already had theresa may

jeremy corbyn is favored to retain his job even though he has lost the support of most members of parliament him of failing to campaign effectively to keep the u.k. in the eu. global news, 24 hours a day. powered by our more than 2600 journalists and analysts, in more than 120 countries. this is bloomberg. jonathan: thank you. coming up, oil falling today. that is on news that iraq is looking to boost experts. later on, more on our interview with howard marks. that is coming up. this is bloomberg. ♪ alix: oil is the future in focus. oil is down by 2% and this is the chart that tells a huge story. he white line is the wti price short positions for wti. in the last week we have seen an anonymous straw down in crude 57,000.s, down by the biggest we have seen since 2008. part of that, yes, we had a softer dollar but also, this jump here that you have seen since august 11 was because saudi arabia came out and said they would consider some kind of freeze. you had that huge amend to help drive able market in about three weeks. everyone expected oil prices to turn. steep.t turn was let's get to the

corbyn,allenging jeremy who has lost the confidence of most of his lawmakers. pay increase more than 10% last year. compensation, $7.2 million. that is 140 times the average wage of their employees. maye minister theresa criticized an unhealthy and growing pay gap between workers and their executives. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. i'm courtney donohoe. this is bloomberg. thank you. the long-held notion that treasuries are the highest yield around may be a thing of the past. last month, yields on u.s. 10-year note turned negative or japanese buyers who pay to eliminate currency fluctuations that have happened since the financial crisis, and it is even worse for investors in other currencies. i want to bring in lisa abramowicz to explain what is going on here. explain this for us. it is not just affecting japanese investors, but european investors, too. benefit of markets is that they are incredibly efficient. , considerede a u.s. a safe haven, where yields are paying so much more in othe

generation, has no problem with dinosaurs, either here -- you have bernie, or in britain we have jeremy corbyn, both of them are relatively the same age and that not effecting people. what is attracting them is the ideas which they're putting forward, which many people respond to. the question is, how to take these movements further. as for the synergy, look, the bolivians -- and when hugh go chavez succeeded, he said any government in souther mrs. which wants to build a health service, wants to build cheap houses for workers and the poor, which wants to create doctors, there is a plank check. here you are. go and do it. and it pinks wore moving in that direction, with various bodies, economic bodies, being formed, et cetera, that is now in a state of collapse, but the ideas are still there and people won't forget them. that's the important thing to remember. lots of people remember the good things that happened and the good things that were done, and when the mood is right, they will come back to them and one of these was to try and unite the south american continent. both against the big bro

shows there is a similar fear that donald trump is putting forward, the same fear we had from jeremy corbynead of introducing creative new ideas, mr. corbyn and trump have nearly succeeded in recycling some bad old ones. state control of the economy in the case of mr. corbyn and america first isolationism in the case of mr. trump. their rise to prominence is a sign of a real sickness in british and american democracy, and we could see this in france. carsten: in france and elsewhere in europe because at the end of the day, merkel is in a strong position but she pays the price. she has been paying the price by going to brussels for the last sure,rs and making precisely what we have been talking about, there is step-by-step solutions and negotiations between government and closer integration or something like fiscal stimulus that france would need. this would all be at the agenda in europe. you obviously see different degrees of populism across europe and the u.s. but at the end of the day, this problem of political fragmentation is something that limits leaders' movement. francine: should we