air france—klm is taking a 31% stake, worth £220 million, in virgin atlantic as part of a four—way jointo 20%, while delta will retain 49%. sir richard said he would remain "very much involved" after the deal. germany's transport minister has announced a recall of 22,000 porsche cars to remove what he says is illegal emissions—controlling software. he said that luxury marque porsche would bear the cost of the recalls of the affected 3—litre cayenne models. let's have a look at the markets. driving those markets down is the top story, the amazon results. sales revenue is up the profits are down is amazon reinvest a lot of the money and that is pulled down the markets in asia. the price of oil was down slightly. we will keep an eye on that across the morning. thank you. the bbc understands at least 60 buildings have failed the government's whole system fire test in the wake of the grenfell tower disaster. dan johnson reports. all those touched by weight for a full picture of how this fire spread, other residents in other towers are nervous. wondering if they are safe —— grenfell. these blo

delta destinations they can earn m miles on, notjust delta flights and other flights, but also the klmrgin atlantic, frequent flyer miles to go to new places on air france and klm's network. we can make our programme quite a bit better. earlier, we had an update from a us army general. he said that time was running out for a peaceful solution to the north korea crisis, although he did support diplomatic efforts, doesn't everybody? that was the army's chief of staff and he said the most recent missile tests on the 4th ofjuly show that they are advancing faster than anyone expected. he added north korea is getting more dangerous as the weeks go getting more dangerous as the weeks 9° by getting more dangerous as the weeks go by and, no coincidence, he was asked for those comments. to the day it is 64 years since fighting ended in the war between north and south korea. in the north, they call it "victory day". this is the scene in pyongyang, and in south korea, a very different scene. this is south korea, they call it armistice day. military staff and international representatives gather n

we have an extremely competitive environments where consequently it was essential for alfonse klm not only to maintain its position. but to be aggressive it'll force. delta airlines and shanghai based china eastern will each get a ten percent stake in that fourth ko i am. raising seven hundred fifty one million euros the franco dutch carrier. in thailand* is born of thirty one percent stake in virgin atlantic. to give it to storm the fifteen in the lucrative trans atlantic flights markets. as well as at london heathrow. europe's busiest international hop. restructuring is also part of the efforts recovery story. after years of labor strife it recently one pilot backing for efficiency measures. and is adding to its feet with a new local subsidiary court june. it'll begin medium range operations this year unknown who flights in twenty eighteen. well the united kingdom's treasury chief philip hammond has said that britain will abide by european union rules for up to three years after it officially leaves the block. in march twenty nineteen. hammond explained this transition period was it

we have numbers from klm second-quarter net jumping.he company sees a lower full-year unit cost in the second quarter net profits coming up. just a few of the details here. took to the helm of this company around a year ago. his mandate to increase profitability, he is trying to counter the competition. we got news of a keeper alliance involving delta, 10 eastern come up a complex web of stakeholder relationships here in the sky team alliance. in all speak to the cfo few minutes time about all of that strategy and the latest numbers. a quick word on what is coming up in your day ahead, you have a busy one if you are trading today. we have a policy decision from russia's central night. two hours later, second-quarter gdp out of the united states. what would that look like that of the goods number of yesterday. then saturday, elon musk lunches that tesla model three. we have heard a lot about that this week. we are looking at live pictures of the senate floor in washington where republicans are debating the health care bill. we have been

profit of 637 million euros up from 42 million euros a year prior the results come a day after airfrance-klm announced a new joint venture with delta air lines and virgin atlantic, taking a big stake in the latter >>> the u.s. senate has voted down a revised so-called skinny healthcare bill after three republican senators broke ranks to vote against the legislation. this as the chamber struggles to pass an overhaul of president obama's signature healthcare law. the snew bill would have repeald a medical device tax and employer insurance mandates. >>> u.s. republicans ditched the idea of a border adjustment tax in a move which could simplify the push for an overhaul of the tax system scrapping the plan is set to bring relief to large importers who feared the policy would hurt profits. they will implement simple rate cuts with the ultimate aim of cutting taxes to as low as 15% the new white house communications director, anthony moo sc sc scaramucci has blasted inside staff at the white house, including reince priebus and steve bannon kristen welker has more. >> reporter: tonight, a profanity-

andy: that was the chairman ceo of air france klm.see some things never change, namely the antagonism between european carriers and gulf rivals. on in: we saw some moves kevin electronics. whether that will help the headwinds they're facing is a different question. tracy: we will find out once stocks start opening. that is it for this edition of "bloomberg markets: middle east ." yousef: we will be live again at the same time tomorrow. jonathan: from new york city, i'm jonathan ferro, with 30 minutes dedicated to fixed income. this is "bloomberg real yield." ♪ jonathan: coming up, payrolls top estimates, but wage growth disappoints. central-bank policy nervousness continues to grow, bund yields climb. protectionism dominating g-20, as emerging markets face a major test of a big year of outperformance. we start with the big issue, a bid for u.s. payrolls,

the klm-airas france cfo. spoke withich, we the credit suisse. and it ubs.ar as the stock reaction today. credit suisse, doing well because of its wealth management. ubs also did well in its wealth management unit but the stock is down. some are saying that it is because the ratio is down to 13.5% from 14%. there were also increases in other ratios. you would think that their impressive beat would encourage shareholders but it has not as of yet. anna: that will do it for this program. "surveillance" is up next. ♪ mark: some of europe's biggest lender's report. we hear from the bosses of ubs, credit suisse, barclays, and more. european tech stocks follow asia and america lower after amazon result raise concerns about earnings in the sector. and the

there is already an alliance between air force, klm, and delta, and is also an alliance between delta and virgin atlantic. now the plan is to combine those two. this super joint venture if we want to put it that way, could broaden the frequent flyer miles program of those airlines, and they can also coordinate on fares and on schedules, so it's really going to be a better option for passengers remains to be seen, but we might be looking at the biggest alliance, the biggest transatlantic alliance in the world. >> thanks for that and have a great weekend. people in senegal head to the polls on sunday. the president has been in power since 2012, and the head of state has been in germany to talk about creating jobs to stop as many people leaving for europe. >> fishing is their livelihood, but ever fewer senegalese fishermen are able to feed their families. they often trawl illegally for huge numbers of fish and these the catch right on board for shipping back to their countries. this has been frequently documented by environmental groups. the situation has driven many senegalese to search

breing a stake in the klm group.rance will buy a stake in virgin atlantic which delta is a major investor. air b n b launched a partnership with naacp. local naacp chapters will work with air b n b to educate residents of the economic benefits. air b n b will share 20% of its earnings from helps he fworts the naacp. and it's the end for the ipod shuffle. apple says it will discontinue its last two music players that can't play songs from his streaming service. they are direct descendants of the original ipod. it can only play music downlo downloaded from physical media. >> end of an era indeed. thank you. >>> still ahead an invention that helps the youngest gain their freedom. >> these home made wheelchairs could be start of moving for their children. how one family turned their devastating news into a mission to help others. stress tested so you can stress less at dinner. it'shop early to save big!l's! and friends & family take an extra 20% off kid's backpacks are just $11.99 junior's denim is $17.59 and fila sneake

air france—klm is buying almost a third of virgin atlantic, leaving sir richard branson‘s parent companyhe airline he founded. sir richard said he would remain "very much involved" after the deal. germany's transport minister has announced a recall of 22,000 porsche cars to remove what he says is illegal emissions—controlling software. he said that luxury make porsche would bear the cost of the recalls of the affected 3—litre diesel cayenne models. we have had figures through from ba rclays, we have had figures through from barclays, millions of customers around the world, they've seen a jump around the world, they've seen a jump in half—year profits but will have to pay out an extra £700 million to meet compensation claims for mis—selling payment protection insurance, that's ppi. ba rclays shares up barclays shares up over i% on the london markets this morning. lloyds also having to put aside additional money for claims, as well. let's ci’oss money for claims, as well. let's cross over money for claims, as well. let's cross over to asia now. let's go to asia, where coffee giant starbuck

air france klm already operates the hot line which flies within frowns israel's turns out via with mid range service across europe. now is aiming to offer lower cost service to asia and the middle east would boost. pilots and cabin creek the parent company of war worried that their pay and working conditions would be affected by the new competition. but they've now reached an agreement that will allow the new carrier to take off. alexander hurst has more. the skies are getting crowded with low cost carriers but air france thinks a new one called boost will take its profits to a new height. for three years air france's unions have opposed the creation of low cost subsidiaries transavia and boost. with pilot striking over proposed changes to pay and time off. now the majority are on board the kyoto climate clinton would have told the pilots have shown that they want to thailand and you pa. definitive moment to. and end the conflict that we've had with the f. france management for a long time. shows. that doesn't mean that there are no more disagreements but we are saying yes to this new

from the same conference, we heard from the air france-klm chief executive in another exclusive interviewan-marc janaillac said tourists from asia and the u.s. are returning to france. jean-marc: i think what we feel has affected the business in france is there is optimism. business, it for our because we see for this summer overseasle coming from coming to france, and more french people going abroad and using our airline. that from seeing also the beginning of the year, a more optimistic view in the business and more business travelers from different countries of europe, netherlands, because we are quite strong in netherlands, but also france, since the beginning of the year. an increase of the business travel from europe to other parts of the world. we think that this optimism favors travel. this due to the political environment? is it due to the fact that, for the past few years, you are seeing the impact of terrorist attacks? jean-marc: we suffered from terrorist attacks in 2016, but we have recovered this year, especially visitors from the states, from china and japan, are coming bac

announced yesterday selling 31% stake to air france klm o to -- for 360 million dollars branson retainsg delta largest share holder 49% airline says move part to paper reenforce strategic commercial financial ties. >> if you like listening to music on your personal devices there is fewer ways to do it at apple now. >> i am sad about this one actually, the end of n era for ipod apple initially killed off the ipod nanoand shuffle leaving ipod touch, as only remaining version of the company's iconic portable music players says a move to simplify ipod lineup by only offering two models of the ipod touch now starting at 199 dollars the original ipod was not first potential music player when it debuted in fall of 2001 but helped patricia from being just are a computer company to giant it is today. >> i have one at home unwrapped, the nano vintage, i like -- person doesn't listen to music on my iphone. >> i like the separate, i do too. >> i remember first pink ipod. >> pink. >> yeah back in the day. great story thank you very much. >> we've got a lot more coming up, of course, on early edition

they are buying 10% stake in the air france klm group.t will allow delta to offer travelers more options on overseas flights. in addition, air france will buy a stake in virgin atlantic of which delta is a major investor. >>> and verizon gets top score for cell phone service. a testing firm ranked the mobile company number one in overall performance, reliability, speed, data and calls. at&t was second, sprint third, t-mobile fourth. >>> hena, dogs are leading more millennials to buy homes? >> reporter: this wasn't too surprising when i heard this. a survey by suntrust mortgage found more than 40% of millennials in the market for a first home said having a dog or wanting a dog influenced their purchase decision. >> interesting. it's not the kids. it's the dogs. >> reporter: it's the dogs. i know. times are changing. there you go. >> that's pretty good. all right, hena daniels with cbsmoneywatch.com, thank you. have a good weekend. >>> 20 minutes now before 6:00. and a backyard barbecue turns into a raging inferno destroying several norther

air france/klm is buying a 31% in virgin atlantic from richard branson‘s virgin group.t. it tells us the housing market. it tells us the housing market is slowing and in particular, it is slowing in london. there is a lot of uncertainty as the company said, following the eu referendum last year. also, they are rushed to pursue transactions at the beginning of last year, ahead of a change in stamp duty rates. so comparators don‘t look very good. clearly, the market is slowing. onto the bigger companies like shell. they say they make money even though they don‘t think it‘s going to go anywhere apart from 40— $50. we are forever alone? that's right, shell boss described shell as hurting itself it for the 40s, what it meant by that was shell is assuming they will struggle to get above a level. the saudis are cutting production to push the price higher. they have really struggled to get it above $50 a barrel. the figures from shell we re a barrel. the figures from shell were good but the oil price has risen compared in the year ago but plainly, it‘s not going anywhere fast.

. >> klm air france says the turnaround is gathering strength with rising bookings than the return of from asia and the united states. the group is still recovering the collapse in travel following terrorist attacks. seen ticket prices declined by half and demand surge. affected theel has mood in the business come and it is good. there is optimism. we do feel it for our business summer we see for this more people coming from overseas. >> much more ahead. congress by the fed, but what about the balance ♪ yvonne: beautiful site on the arbor day -- site on the harbor today. betty: markets ended brighter on friday. a nice rally led by tech shares. i'm betty liu in new york. yvonne: i'm it on man in hong kong. you are watching -- i'm is on yvonne man in hong kong. here's our first word news. the biggest reason given for not supporting prime minister abe was a lack of trust in him as a person. the republican party's hopes of repealing and replacing the affordable care act has hit the rocks come with passage of any plan in doubt. bill cassidyator declared the leadership plan a nonstarter. so

klm signaled that a turn around that began earlier this year is continuing.nd u.s. return to france after staying away in 2016. >> it's good. the summer. mark,t was ceo john bloomberg in france over the weekend. that's your bloomberg business watch. tom: here's what you need to know. america'staphor for lousy infrastructure. hell.alled a summer of pennsylvania station in new york city. 1910 in the original boards building. changed in 1963, 1964 when it was destroyed. the old station now. among other things, there's more. daniel patrick and the shoe.sion shined is it and when do get to moynihan? >> it's not looking too bad this motorcycle. moment.trak form at the there's a number of people who are cueing up for trains right behind me. railroads,ajor amtrak, new jersey, transit and long island railroad will be affected. the 650,000 commuters who use everyday are going to see some serious commute problems throughout eight weeks of summer. yorking dubbed by the new governor andrew cuomo. september 1st. beyond there's a lot more needs to be done here. tom: it alwa