juliette saly with the business flash.teo renzi is hosting the german chancellor and french president for talks on the future of europe following britain's decision to leave the eu. their meeting takes place on board the italian aircraft carrier named after the general who helped unify the italian state of the 19th century. let's get more from bloomberg's ian wishart, the joins us live from brussels, perhaps hoping, then, that this aircraft carrier will have the same effect in bringing unity. what's on the agenda for these three leaders in italy today? well, if you think of all the challenges facing europe at the moment, they are pretty much all on the agenda today, from migration to turkey to terrorism to economic growth, and of course what happens after brexit. there are all these things to think about. is brexit go to the u.k. pretty much a wake-up call for the rest of the 27 liters of europe to say, what is it we are doing? what is the eu about? what do people think about what we are doing? there is a very real sense t

here's juliette saly. es tumbled after hours on a forecast that fell short of estimates. 34.237,ted a profit of lower than estimates of $.40. the printmaker struggled with slumping demand for its product. chinese reg latest are investigating a dutch high-speed trading firm in connection with stock index futures last year. there received inquiries related to futures trading at its shanghai-based affiliate. china has been cracking down on high-speed traders in the wake of last year's work at rauch. thailand's national oil companies says the enzi market is increasingly oversupplied. prices falling and new long-term -- thets -- pvt claims company's ceo tells bloomberg that he expects crude prices to head higher. year, wee rest of this 50 --it will be between 45 to 50. we plan to see the price gradually going up to $50 to $50 in the next few years. in the longer term, maybe $50 is something we should plan our investments on. juliette: new zealand led the world when he gave women the vote and introduced inflation

let's get to juliette saly. juliette, good morning. juliette: manus, thank you. investors pulled more than $25 billion from hedge funds last month, the biggest monthly reduction since february 2009. total outflows this year, close to $56 billion driven by mediocre performance. hedge funds have faced nothing criticism over state costs and their failure to keep pace with -- it is a most time to short crude rally, the century-old commodities firm which was the largest in dependent oil refiner in the u.s.. simon green shield says traders should short the vti crude -- should short wti crude. former uk independence party leader, nigel farage, appeared on stage with a rally with donald trump in jackson mississippi. farage spoke of britain's decision to leave the european union as a positive example and urged trump supporters to get out to vote against the "establishment." next line >> -- establishment." >> if you want change, you better get out there campaign. enoughg is possible if decent people are ready to stand up against the establishment. thank you very much indee

juliette saly is standing by. juliette: thank you.hanti first-half profit more than doubled as the higher gold price boosted revenue. the world's third-largest gold miner reported adjusted earnings of $159 million. it maintained full-year forecasts to output, cost, and spending. shares in sharp continued to climb in tokyo after foxconn completed the purchase of its stake in the company. the deal was approved in april but was delayed by chinese antitrust proceedings. jiang lin hawsg won approval from shareholders to buy out his property holding. this clears the way for hong kong's biggest ever property deal. companies are fetching higher valuations than in hong kong. isvate equity firm kkr thinking about making a play for ever paid. -- for pepper pig. no final decision has been made. entertainment one has already rejected an offer from a u.k. broadcaster. the bank of japan is on course to become the number one shareholder in 55 nikkei-listed firms. that is according to estimates compiled by bloomberg. the central bank is already a top-

juliette saly has the details for us. emerging markets coming under a little bit of pressure as markets reevaluate the fed and how strong the dollar can get. juliette: yes, that is right. we were talking to scott earlier on bloomberg radio. he is from wells fargo and he was saying before asia even opened, if you are going to see any we is in response to janet yellen's comments, it would be an emerging market stock and currencies. we have seen big selling coming through in a lot of those markets. australia trading lower to the tune of around 1%. here in hong kong, stocks tracking at a two-week low. a very different picture in japan. the nikkei is up over 2% with one hours trade to go. it is a tale of two central banks. on the one hand, you have janet yellen being hawkish about tightening monetary policy and then governor kuroda coming loose inbeing quite saying that he might add more stimulus into the japanese economy. of course, dollar strength putting weakness on the yen. we have seen a lot of automakers and electrical ap

here's juliette saly. juliette: caroline, thank you.io tinto has reported its worst profit since 2004. prices eroded earnings. underlying profits fell 47% in the six months through june matching analyst estimates. coming up later today at 1:20 pm u.k. time, we speak to the new ceo of rio tinto jean-sebastien jock. -- jean-sebastien jock. bank saysird-largest the income was 1.1 6 billion euros come up 26% from a year earlier. it got his boost pump a sale. -- from a sale. axa profits rose 4%. -- we will be asked -- we will --speaking exclusively volkswagen has warned that -- is allowed to last. the german carmaker has been told we spoke to -- where does the text -- whether the tax cut will be extended. the world's second-largest economy has been a bright spot for vw which has been embroiled in a cheating crisis. that is your bloomberg business flash, manus. manus: ing group, the biggest dutch lender, reported profit. that was up from 358 million euros just a year ago. ,hat was -- we're joined now patrick flynn, the cfo. patrick, thank you

juliette saly has details of the asian trading session.orse a little bit as we go to the session. many asset classes, we are waiting to hear if we get any clues from janet yellen later. juliette: very much in this holding pattern. it has been quite the week for asian investors. in europe and the u.s. everyone waiting for janet yellen. is she going to say anything that is going to be market moving? we have seen a bit of a downside , particularly in japan. the nikkei closed the session off the worst part of it stays, down 1.2%. the deflationary pressures still shown in japan, down for a fifth consecutive month. stocks, although the yen is fluctuating and holding around that 100 to the dollar. in austria, not a great fission -- not a great finish. it is now holding at its lowest level since august 5. the regional index on track for its worst weekly loss since around june. it has -- in terms of people waiting to see if it is going to be anything hawkish from janet yellen. she'll be selling out of those asset classes? in terms of china share ma

juliette saly is here. juliette: the bank of england has found enough bonds to meet its weekly target. yesterday the bank of england posted 1.1 billion pounds of gilt, coming after they fell shuort of the target. cisco systems is reportedly cutting up to 15,000 jobs. willding to crn, they announce the layoffs in the next few weeks. cisco has been shifting toward software-based networking products which requires workers of different skill sets. the ceo declined to comment. japanese shares climbed on thin volume during wednesday's trade. exporters gained as the yen halted its advance. it's the second time this year the japanese currency rose above that level. global news, 24 hours a day, powered by our 2400 journalists in more than 150 news bureaus around the world. this is bloomberg. , thank you.e than the fomc releases minutes from its july meeting later today, coming off hawkish to some officials, as investors look for more evidence that the fed may be ready to move. havee last 24 hours, two suggested that

juliette saly. manus, thank you. -- has removed its ceo sing the role has become so complex that judicial management profile was no longer adequate. statements from the banks chairman says he will be replaced with immediate -- shares have fallen 22% since he took over as ceo in march last year. -- that is according to people familiar. the carbonation of the two companies would create the world's largest supplier of industrial gases. warren buffett's berkshire hathaway boosted investor -- investment in apple when the stock slipped. according to a ventilatory filing -- according to a regulatory filing -- that is your bloomberg business flash. manus. manus: thank you. there has been a raft of post-brexit data. it all kicks off today with the cpi. cio.han bell, he is the today is the beginning of the truth serum in terms of what brexit means. the pound is down 12% post-brexit. is inflation such a bad thing in the u.k.? jonathan: what central banks want is to get some inflation. the bank of england is exp

juliette saly is in hong kong. liette: uber will merge its china business with didi according to people familiar with the matter. the new company will be valued at $35 million. uber will continue to run its own apple in china for now. sony shares have risen after a surprise first-quarter profit has been posted of $205 million. a loss was expected. strength in its playstation division outweighed the impact of the earthquake which shut its main manufacturing site. fallen again after the hit game pokemon go dropped from the top of the app downloading charts in japan. the biggest decline in more than two decades. while pokemon go has been a social phenomenon, the tokyo-based company says it does not expect a major earnings boost from the apple. panasonic shares have plunged in tokyo after it were worded worse than it acted first-quarter earnings on friday. net income fell 64%. the firm says it plans to sell nearly $4 billion in bonds. it has hired several banks to look into the sale of 5, 7, and 10 year notes. one of ch

let's get to bloomberg business flash with juliette saly. juliette: caroline, thank you. a woman has been killed and five others injured in a knife attack in central london. police were called to russell square. a 19-year-old man was arrested a few minutes later after being tasered. mental health was a significant factor in the event come although the possibility of terrorism is also being explored. siemens has released its earnings outlook as it posted higher-than-expected third-quarter profit. a jump in orders for powergenerating equipment. europe's biggest internet company says profits from industrial operations rose 20% to 2.1 9 billion euros in the months through june. chicago fed president says one rate hike could be warranted this year as the economy picks up steam could he expects growth to increase in the second half of 2016: disappointing gdp readings in the first two quarters to do meanwhile investors are awaiting friday's jobs starters to gauge the fed's rate path. global news, 24 hours a day, powered by 2600 journalists and analysts in more than 120 countries

juliette saly is standing by. juliette: thank you.apan's biggest brokerage plans to hire bankers in the u.s., resuming a push to boost its investment banking business there. the ceo has been a limiting jobs since shutting businesses in the europe and the americas to say $700 million and spent six years of losses abroad. this comes as he anticipates rising volumes emerging' in stock offerings in the u.s. a bankis to investigate whose compliance program was described by a u.s. regulator as a "hollow shell." million forned $180 violating money laundering laws by the department of financial services in new york. it's a suspicious transaction load between the new york and panama branches and a number of branches were at the center of the panama papers scandal. uber has told investors it won't pay more than $2 billion for its main rival lyft, according to people familiar with the matter. unsuccessfully sought to sell at $9 billion once while investment firm gm valued it at $5.5 billion. and that is your bloomberg business flash. caroline: t

manus: juliette saly standing by. juliette: not a great day in asia.d. japan down 2%. you can see a lot of disappointment with the details of a base stimulus package which came through after the closing bell in japan. we also during tuesday's session had that 1.5% surge in the yen. it has given back a little but we are seeing a lot of downward pressure coming through from japanese stocks and a number of earnings also missing the street with their earnings. -- hsbc'sbly so results came through every stock on the hang seng index was in the red. weakness on the shanghai, asia market. that weaker oil price like into the australian share market which is closed lower by 1.4%. weakness coming through in asian equities and also in currencies today. the yen down .2% holding at 101. anna: juliette saly with the latest. the picture coming out of the asian session. up next, axa's first half earnings. we speak exclusively to the ceo. this is bloomberg. ♪ manus: we just had the earnings from axa, francis -- france's biggest insurance company. insurance upsetting the

juliette saly is standing by. dollar-yen has turned around. up is still trying to chug towards $50. quity markets seem to be pausing. juliette: yes. that research in yen -- resurgent yen has given a good used to japanese equities. the nikkei has posted its first win of the week, up 0.8%. good news for japanese equities. elsewhere it is pretty flat in asia. we are seeing energy stocks really leading the gains. we have seen crude fall back a little in asian trade, but still holding above $46 a barrel. i want to show you cap a pacific shares in hong kong. they are the worst performer on the hang seng index. cathay came through with a miss in its profit numbers. half expecting the second to be challenging as well. looking at a few other stocks we're watching in the region, we have been looking at hong kong exchange. this is the hong kong-shenzhen link finally got that will ahead. probably not going to make that much of a difference to hong kong exchange. bhp billiton rising, saying it sees the end of that commodities downturn. qbe insurance, a miss with its earnings in sydney down almost

here's juliette saly. liette: we had a bit of a mixed on wall street, those comments that any rate hike would be dependent, i guess a little different than what he said last week, but we know that investors are awaiting the payroll numbers coming through on friday. upside oning solid the japanese sharemarket, up 1%, now on track to erase losses for the month of august, and actually beat out a small game. near 103.alled a little bit weaker and more stabilization in that yen, holding that a one-month low. looking at hong kong, it is pretty flat at the moment, but it has had a very solid month. share up about 7%. this is led by gains in the tech space. it is likely we could see an interest rate hike in the u.s. quickly looking at korea, lower by one third of 1%. but look at hyundai merchants, up 23%. this is as tangent shipping said it could start buying some of its assets. mining stocks pulling australia lower at the moment. angie: juliette, appreciate it. you can get more on that and the rest of the day's ne

let's get the bloomberg business flash with juliette saly. juliette: thank you. u.k.omebuilder persimmon has recorded what it called a robust first half. pretax profit was up 29% on a 12% rise in revenue. the company says that while the brexit vote created more economic of urgency, customer interest has since been solid. blackrock is betting on emerging markets. the world's largest asset manager has upgraded developing nation stocks to overweight from neutral, starting an improvement in fundamentals and stability in the dollar. last month it raised its outlook for emerging market bonds. blackrock sees more room for inflows with the msci emerging markets index set to rise for a third straight month thanks to rebalance and commodity prices. at leastisse ceo has one investor that keeps getting bigger on his turnaround. harris associates has increased its stake to more than 10%. last summer, he restructured businesses to shift away from securities trading and focus on wealth management. lost aboutompany has 45% of its market values this year. and that is your bloomberg bu

juliette: and i am juliette saly keep an eye on the markets. it is a tale of two central banks today. governor kuroda's comments that the bank of japan may add more stimulus is lifted -- has lifted the nikkei up over 2% on the lunch break. emerging-market stocks entrancing getting a hammering after janet yellen putting the likelihood of a september rate hike on the table. the yuan at a five-week low. the one also falling. -- won also following. i will have more in the markets shortly. angie: thank you. central bankers reaffirmed their belief in the power of monetary policy at their meeting in jackson hole, with janet yellen signaling a hike is still on the table next month. meanwhile, we have kuroda vowing to act decisively on stimulus is needed, saying there is ample roof -- room for additional leaving. editor brettnomy miller is in tokyo. what clues does this give us, at the boj meeting? reporter: we are certainly in for a tense wait.kuroda has implicated as he has said before,, that a full increase in policy is possible. that means we could

here is juliette saly.ncisco's fed president is calling for a new approach to central banking. john williams argues the level of interest rates that does not stimulate the economy has fallen. low intereste new rate environment, the policy of targeting low-inflation it no longer make that low-inflation no longer -- low-inflation no longer makes sense. rebounding oil prices. the country's largest oil producers were among the biggest gainers on the benchmark 50 stock index. the investment banks with european headquarters in london will start the process of moving jobs from the u.k. within weeks taking onernment brexit, much faster than previously expected. executives are planning for the worst. that they will lose the rights it to sell services freely around the eu from the city. global news 24 hours a day powered by our 2600 journalists in more than 120 news bureaus around the world. you can find more stories on the bloomberg at top . stick with that focus on what is happening in the u.k.. the pound havin

hour.n oil in this next juliette saly standing by with bloomberg business flash. you.tte: manus, thank consumer prices have fallen for a fifth straight month in japan. underscoring the central banks struggle to bear inflation tour -- toward 2% target. -- the figures of the latest reading on the measure before the bank of japan governor and his board consider a possible policy revamp when they meet next month. russian president vladimir putin has ordered snapped military drills after angela merkel accused him of breaking international law in ukraine. she also said nato will defend member states against an attack. france try to progress as a filament of the treaty but the security situation in eastern ukraine worsens then the summer. every day people lose their lives on the contact line between ukraine and eastern ukraine, especially the ukrainian soldiers. you can imagine that in this situation it is difficult to lift the sanctions. of course, we are working on that. we spoke with with the russian and ukrainian president did we're in touch and i hope we will be up

juliette saly has details for us. the oil price is very much in charge, setting the agenda and setting the tone for overnight trading. were saying you earlier, we are seeing the weaker oil price weighing on the energy sector, the worst performing sector, down by 1%. they have been fluctuating, the asian stocks. some weakness coming through the nikkei in afternoon trade. it did have a bit of a rally and our ago. the yen is starting to strengthen. down by 0.7% but it is a waiting game. waiting for janet yellen's speech on friday. investors have been treading water a little bit. a good rally in australia in the latter part of trade, up by 0.8% despite the weakness in the oil stocks and in hong kong which is also heavily energy-based. petro china is weighing on that index, down by 0.4%. a little bit on the upside for the shanghai composite. .esterday, it fell almost 1% a little bit of buying coming through there. korea is a little stronger but southeast asia is being sold off today. there is some company news regarding ea

juliette: and i am juliette saly keep an eye on the markets.ay. governor kuroda's comments that the bank of japan may add more stimulus is lifted -- has lifted the nikkei up over 2% on the lunch break. emerging-market stocks entrancing getting a hammering after janet yellen putting the likelihood of a september rate hike on the table. the yuan at a five-week low.