for those, we go to i'm manus cranny laura wright in -- we go to laura wright in london.ressingudi aramco is ahead with plans to pay 75 billion in dividends despite slumping profits and a surge in debt. the income fell 73% from a year earlier, but the worst may be over. the chief executive says it is already seeing a partial recovery in the energy market. have helpedtiktok the limiter he talks about a merger according to dow jones. not clear if twitter will pursue a deal, but the social network is smaller than microsoft and probably wouldn't face the same level of antitrust for me. berkshire -- scrutiny. berkshire hathaway bought back stock in the second quarter. it saw a 10% drop in operating profit. that was not as bad as expected. aside from buybacks, warren buffett grew his cash pile, now over $146 billion. that is your bloomberg business flash. matt: thanks very much. laura wright came london with the business/. investors are underestimating the risk, the downside risk from your zero interest rates according to bob prince, the bridgewater co-cio. he says bond losses

let's get the bloomberg first word news with laura wright. laura: the u.s. plans to act against chinese software companies. that is the latest from mike pompeo, speaking to fox news. on friday, president donald trump told reporters he planned to ban the popular video apps. pompeo says it should come soon. the u.k. is considering the worst-case case scenario of lockdown in london again, according to the sunday times. it would include travel curbs in and out of the and 25 and would see at people ask to stay-at-home. robert genvec said he is not aware of any specific plans to seal off london but the u.k. will target local flareups rather than blanket action across the whole country. a hard lockdown can deliver a faster economic recovery, according to neel kashkari, speaking to cbs. he says while the move would be very unpopular, it can restore growth more quickly rather than waiting for a -- rateari said the surging means the country can afford to finance more fiscal aid. global coronavirus cases topped 18 million. the pandemic is adding around one million new

let's get the first word news with laura wright. ank of england is not ready to follow its bits into the round of negative interest rates. it was the benchmark at 0.1% unless asset purchases are changed. the bank says it does not plan to tighten policy until there is progress in achieving the inflation target. it also doesn't expect the u.k. economy to reach precode levels until the end of 2021. u.s. efforts to crack down on chinese technology looks to be extending will belong -- well beyond tiktok. mike pompeo is urging american companies to block chinese applications from their app stores. is so-called clean network not binding. see on trusted chinese apps removed from chinese app stores. president trump has mentioned pending action on tiktok and for good reason. with parent companies based in china, apps like tiktok and others pose a threat to american citizens, not to mention tools for sisi content censorship. pressingmocrats are for more concessions on economic relief. one of the white house chief negotiators has warned there is

here is laura wright.plitting its shares in a 5-1 exchange in an effort to make the stock wessex and said to individual investors. this comes as the carmakers surge pushed its valuation to around $250 billion. that's more than ford and toyota combined. trading will begin on august 31. air b&b is filing for a stock market listing in the next few weeks. it could start trading as soon as the fourth quarter, during the harshest lockdown as air b&b tumbles about 90% and they cut a quarter of the workforce in a bid to survive. by may the company was already seeing a rebound. that is your business flash. laura wright in london with your business flash. ,oe biden chooses kamala harris the former california attorney general as the first black woman and the first asian-american on a major party presidential ticket. we will discuss the democrats vice presidential pick. this is bloomberg. ♪ anna: -- matt: welcome back to "bloomberg markets: european open." away from thetes start of cash equity trading and we are follo

for that, we go to laura wright. er made more money delivering food than from transporting people. sales fell 29%, ending a decade of growth for the ride-hailing giant. but the company is maintaining its goals of an adjusted quarterly profit for next year. microsoft's talks with tiktok fo remains focused on buying operations. sources say they have not expanded the scope of negotiations. that comes after a financial times reported that the financial giant was pursuing the entire business. aberdeen has lost its title as u.k.'s largest standalone asset manager. this takes it below schroeder's. that is your bloomberg business flash. a small dna testing company that months ago was trying to get its in consumer -- its footing in consumer genetics is working to make hospital safer. offer for 5000n machines to test patients for the coronavirus at hundreds of nhs hospitals and delivers results in 90 minutes, and could also identify the flu and other viruses. joining us is the dna nudge founder and imperial college london profe

let's get to the first word news with laura wright. ura: president donald trump is moving to ban tiktok and we chat in the u.s.. he signed an exec of order barring u.s. residents from doing business with the app. orders applies to against -- it does not include tencent applications that have nothing to do with the app. boris johnson has pledged money to help with brexit redtape in northern ireland. it will complete the declarations on crossing the irish sea. announcement in programs pay for the people. the u.s. is looking to tighten rules for u.s. companies lifted on american exchanges. a working group is recommending the fcc strengthen regulations across disclosures and auditing. the group did not determine how to enforce the guidelines, but the final penalty for companies that do not comply would be a delisting. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. nejra? nejra: laura wright in london. coming up, negative rate

for the bloomberg business flash, here is laura wright. rzbank has abandoned its goal for a full-year profit after future losses tied wirecard. it comes as the lender seeks to emerge from a leadership crisis. this week, the lender appointed a new chairman but is looking for a ceo who knapp -- navigate the conflicting demands of shareholders. theo attracted new money in second quarter, blunting the impact of outflows in the first three months of the year. the u.s. bond giant brought in 23 billion euros in the period, allianz took a hit with profits declining 19%. pressure from cheaper alternatives before the coronavirus crisis. virgin atlantic files for chapter 15 bankruptcy protection in the u.s. after telling a london court it is set to run out of cash next month of a rescue deal is not approved. 15 allows foreign companies with u.s. assets to protect themselves against claims while the work for a turnaround plan at home. virgin hopes to secure a rescue package. that is your bloomberg business flash. matt: laura wright in london with your

get to the bloomberg first word news, the top stories, and for that, we go back to london and laura wright biden and running mate kamala harris made their first joint appearance last night, in biden's hometown of wilmington, delaware, scaled down from previous elections due to the pandemic. haveng restrictions, they maybe only virtual appearances. and tackling the coronavirus, three major hospitals, impacting more than two dozen clinics, and the world health organization says foreign medical teams in lebanon are diverting some of their focus to containing the virus. australia has added almost four times as many jobs as forecast in july, with unemployment surging by over 114 thousand. it shows recovery in much of the country is outweighing some of the impact of the new lot done in victor doria, but there are restrictions in melbourne, including the curfew. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2,700 journalists and analysts in more than 120 countries. this is bloomberg. anna? matt? lore with your first word news. there was earnings reported

here is laura wright.is paying over $2 billion to settle legal issues, the latest fallout on vehicle pollution. $1.5 billion with environmental protection agency. class-action litigation by consumers. out byis set to be shut india, they plan to restrict the chinese telecom giant. comes as relations between the countries hit a four decade low. that is your bloomberg business flash. wright ink you, laura london. about the state of the u.s. economy. nancy pelosi and donald trump are putting down opposing wages on where the economy is going, and who gets the blame if it goes south. they are $1 trillion apart on a stimulus deal. republican when negotiators are ready to meet in the middle, democrats will fit down. >> perhaps we mistook them for damn.dy who gave a unless they see the reality of what it means in the lives of the american people, what good is it for us to agree to something that has no relationship to meeting the needs of the american people? meanwhile, new u.s. jobless claims fell below one millio

let's get the first word news, the top stories from the terminal with laura wright in london. nt has fallen the most since the global financial crisis. the number has dropped by 220,000 in april to june. it highlights the economic shock facing the u.k. which is expected to escalate. president trump said he is seriously considering cutting capital gains taxes, a movie decided against last september, saying it would not do enough to help the middle class. he thinks it will create more jobs. he cannot cut the rates without congress, but some say he could issue an executive order. the number of coronavirus infections around the world has topped 20 million. it took six months to hit 10 million and doubled in six weeks. public health officials are warning caution on the timeline for a vaccine. one may be cleared or use by the end of the year, but early does his likely be for key workers. a protest ended in violence in belarus as the president claims a landslide victory in the election. the ballots have been marred amid police crackdowns on the opposition. mike pompeo says the u.s. is

let's get your first word news with laura wright in the london hq. laura: billionaire bill gates says it is mind blowing the u.s. government has not improved coronavirus testing. he described the process as slow and lacking fair access. speaking on cnn, he cited long lines at commercial labs. he says wealthy people have quick access but others have to wait. because no other country has such "insanity." a is the most senior visit by u.s. official in four decades, health and human services secretary alex azar is in taiwan, a move likely to fuel tensions with china. island democracy and praise the government's response to the pandemic. beijing last week said it would firmly opposed the trip. after last week's deadly blast, world leaders are pledging almost $300 million to help after a virtual conference cohosted by emmanuel macron and the united nations. it comes amid protests in lebanon. demonstrators are calling for the resignation of the government over its role. violence in belarus after a contentious election result. policing riot gear dispense thou

now let's get to the first word uses with laura wright. >> thanks.hite house has no plans to do away with the payroll tax altogether. that is despite president trump saying he would repeal it permanently if he wins another tournament. the idea of doing away with the tax is unlikely to get support from congress. it could drive up the deficit by trillions of dollars and spell the end of some social security payments. the latest controversy in the u.k. is around student exam results. boris johnson is defending his government's handling of exam scoreless. students complaining they have had their grades downgraded. teach he is gave an estimate which in turn was put through an algorithm. fiasco. calling it a in china, output rising 4.8%. but domestic retail sales are continuing to undercut the rebound, falling over 1%. china with a jump in private con suns will keep the bounce-back on track. this is bloomberg. neijra: laura wright, thank you so much. coming up, banking black. banks serving under represented communities have been disappearing. they are urgi

the firststraight to word news with laura wright. the white house and democrats are still far apart on the new coronavirus replete -- relief plan. talks will resume today. democrats want to keep the $600 jobless benefit in place, but republicans want to reduce it to $200. lockdown could deliver a faster economic recovery according to neel kashkari. he says while the move would be unpopular, it could restore growth in hiring more quickly rather than waiting for a -- he says the surge in u.s. fiscal rate can afford t aid. the pandemic is adding a million new infections every four days. australia has expanded restrictions in melbourne in an effort to curb rising infections in the city. new zealand is delaying its quarantined free travel zone in the country due to the outbreak. murdoch was chief executive of the family's main media business until last year. he steps down most of assets were sold to disney. since then he has become increasingly vertical of the conservative editorial direction of news corp. and fox news. he has left news c

let's get to the first word news with laura wright. l reserve officials are warning another round of fiscal relief will be critical for the u.s. economy. the comments come as lawmakers continue to be deadlocked over a new aid package. president trump is considering executive action to help americans hit by the pandemic. enacting a payroll tax holiday. expects toy says it raise nearly $950 billion in debt over the three months through september. that is on the massive spending surge to help the economy through the coronavirus crisis. is 270 billion dollars higher than the projection in may. the finding of the think tank the new economics foundation says that the central bank is subsidizing industries through the pandemic rescue program. it says large amounts of money have been pumped into the industrial sector despite smaller parts of the u.k. economy. argentina has agreed to restructure $65 billion in debt. of the dealnts between argentina and its creditors are still under discussion. it would mark the first step toward stabilizing a st

now let's get to the first word news with laura wright in london. laura: the u.s.lans to act against a wide range of chinese software companies, not just tiktok. friday, president donald trump told reporters he plans to ban the popular video app. no official decision yet, but pompeo says it should come soon. buying a gas for $7 billion. the owner of 7-eleven is helping and expanded foot print will expand during the pandemic. it currently has around 69,000 stores worldwide. spacex's dragon capsule has splashed into the gulf of mexico with its astronauts. it successfully completes the first messenger the space station -- the first mission to the space station. it is the first mission for u.s. astronauts in an american craft since the shuttle program ended. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. london.aura wright in coming up, global coronavirus cases top 18 million. the fed says a hard lockdown could deliver a faster economic recovery. we will

first word news with laura wright. laura: u.s.to crack down on chinese technology looked to be extending well beyond mike pompeo is urging american companies to block applications from the app store. this so-called clean network guidance is not binding. it is an escalation. we want to see on trusted apps removed from u.s. app stores. president trump mentioned the , andng action on tiktok for good reason. with parent companies based in china, apps like tiktok and wechat are significant threats to american citizens, not to mention tools for ccp content censorship. laura: democrats are pressing for more concessions on pandemic relief ahead of the end of the week deadline to reach a deal. the chief negotiators have warned there is little time left to negotiate. the chief of staff says the administration has given more ground than the democrats. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. nejra, manus. manus: laura, tha

let's get the first word news with laura wright in london. itsa: tiktok has to sell u.s.rm by september 15 or close, according to president donald trump. he says he does not mind who buys it, microsoft or another firm, as long as it is a big, secure american company. the president also said any sale would have to include a substantial payment the u.s. government. england may be undermining a green recovery. a report says the central bank is effectively subsidizing industries with its rescue program, pumping money into the dirtiest sectors in spite of being small parts of the economy. in australia, doria imposing a fine for -- victoria imposing a fine for anyone flouting coronavirus rules. repeat offenders could see a court penalty of four times as much. there is a curfew in melbourne and a statewide lockdown. -- is planning to leave the country he ruled for almost four decades. years, he has raised a series of scandals and legal woes. he has not said when he will leave spain or where his ex i will take him. global news 24 hours a day on air and quicktake by bloomberg, pow

first word news with laura wright. ura: the end of an era for shinzo lobby, rezoning for health reasons. it ends his run as the longest-running premier. at a news conference in tokyo, he apologized for leaving during the pandemic. he will stay on until a successor is chosen. president trump closed the republican national convention with an attack on joe biden, urging people not to trust biden. trump promised to cut taxes and create 10 million jobs in 10 months. no breakthrough in the stalemate over the stimulus. nancy pelosi and mark meadows spoke for the first time in three weeks to try to break the impasse. earlier this week, analysts predicted there would be no deal until the end of september. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. annmarie: thank you. japan's democratic party is looking for a new leader. in the united kingdom, the liberal democrats have elected one. in last december's electio

let's get bloomberg's first word news with laura wright. ura: federal reserve officials are warning another round of fiscal relief will be critical for the u.s. economy. this comes as lawmakers continue to be deadlock over a new aid package. president donald trump is considering executive actions. he wants to impose a moratorium on evictions. the bank of england may be undermining u.k.'s push for a recovery. it's report says the central bank is subsidizing and polluting industry for the pandemic program. it's as large amounts of money have been pumped into the sectors despite being part of the u.k. economy. the former king is planning to leave the country from us for decade. the nation after the death of franco. the for recent years he faced a series of scandals. when or where his exile would take him. for hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. matt: thank you. laura wright in london with the latest. .sian stocks rallied they are on track for their biggest gain in two we

laura wright is in london. laura: thanks. it will select audit sensitive mainland companies. [inaudible] the vice-chairman of the chinese regulator says beijing is ancere in wanting to fall standoff. business links on both sides benefit. >> for all the u.s. investors who have invested in chinese companies, they have made a lot more money than the average market in return. it's good for the chinese companies as well. they have access to international capital and listing in new york also helps raise the corporate governance standards of these companies. it is mutually beneficial. i hope there will not be a decoupling. laura: the u.s. has accused hsbc of aiding the government's hot lockdown on hong kong. mike pompeo says it continues to provide services to people sanction by the u.s.. .e cited reports no comment from hsbc. three of the world's richest people have just achieved staggering new levels of wealth. the amazon founder has topped $200 billion. --t surge a rally in tesla shares pushed elon musk's wealth above $100 billio

let's get you the business flash with laura wright. >> jet in jamaica rolls-royce has suffered a record loss. it posted a pretax loss of $7 billion after the coronavirus grounded jets all of the world. the ceo says 4000 jobs have been cut so far and a total of 9000 may end up being eliminated. salesforce is moving to streamline its business. it tells bloomberg it plans to cut 1000 jobs, including sales roles, as a support software company reported record quarterly revenue and forecast further gains. salesforce says it is reallocating resources to petition for further growth. this airport is planning a restructuring that can see the loss of another 600 jobs, a quarter of the remaining workforce. it comes after some of its biggest customers abandoned there.ons it has already scrapped more than 800 posts. that is the bloomberg business flash, yousef. yousef: thank you very much. petrochina,ne from one of the heavyweights listed in hong kong. coming through with the first half rfis loss of close to 30,000,000, -- 30 billion yuan. the company operates apart from oil and gas services, from ex

let's get to the first word news in london with laura wright. james: the white house and democrats hope to have a deal on a new relief package by the end of the week. sides remained far apart on key issues that they appear to be moving closer to an agreement. any vote on a deal would likely not happen until next week. u.s. and china are planing to assess their phase one trade deal this month. sources tell bloomberg the discussions between trade representative lighthizer and the chinese vice premier will take place around august 15 amid a backdrop of rising tensions between the two countries. and u.k., lawmakers are urging boris johnson to be more open about the travel risks associated with the coronavirus. criticism over the way he talked restrictoning only to without warning. disney is doubling down on its streaming business. its live-action remake of mulan will go to disney plus, a pay-per-view film priced at about $30. the attempt payment -- entertainment giant -- global news 24 hours a day, on-air and quicktake by bloomberg, powered by more

we go to laura wright in london. fact we will bring you laura later -- i promise.a break. pressing for concessions, stimulus talks in the u.s. hit an impasse, and the white house and democrats are still far apart on major issues, a couple trillion dollars apart. we will bring you the details next. this is bloomberg. ♪ annmarie: welcome back to "bloomberg markets: european open." a bit of a mixed picture, ftse 100 down 0.8 percent. the dax up 0.6%. earnings coming out of germany. , and that is5% helping out the dax. the u.s. needs to improve efforts to test for the coronavirus, according to dr. fauci, the director of the national institute of allergy and infectious diseases. he spoke with bloomberg's david westin. variousi: the companies that make it and distribute it, i'm not sure we have public health groups that get testing from the public health system. the ones that drive it are the private enterprise. david: is that effective, is that the way we will beat this thing? better.i: we need to do even though we are better off now than we were in the beginning when w

for that we go to laura wright. walmart and microsoft committed their offer for tiktok. deal could come as soon as this week. would meets the bid the expectations of users and satisfy the concerns of the u.s. government. bayer's settlement in roundup weed killer is in jeopardy. the judge is challenging bayer's truthfulness. bayer says it remains optimistic about the deal. another sign of strong demand during the coronavirus pandemic. dell and hp have posted results that topped wall street estimates. from consumer devices, dell jumped 18%. your bloomberg business flash. let's try again. ben, really good to have you. we want to talk about global equity income area first, your thoughts on whether it matters how hot they fed let's the u.s. economy run. we have not managed to touch the inflation target for a while, so talk of allowing us to go over it might be an intellectual challenge. how do you interpret the fed? i think it is healthy for , equity markets through history tend to react and perform worse when rates start to go up. the rates staying low for a very long time,

laura: where is he getting these numbers? 8-9 cases per day in a county of 1.1 million where kids can go to school? i don't know where he's possibly coming up with this. it's absurd. >> wrightlaura. i think everyone is confused. dr. gales is saying he's relying on your data. we have yet to understand what that means. the order came friday night under the cover of darkness. he did not share it with the schools on how he came to this conclusion. we don't understand what he is really saying when he says we are relying on that, those numbers, because you are right, the population in montgomery county is over a million people, so to have a low rates, eight cases a day, is virtually impossible. which means the schools would never reopen. it's unclear. one of the council members todae sent him a letter asking him those questions, which is really telling that these council members idea. the data that he was replying -- excuse me, relying on. >> laura: no. i've got to play this before we go. one montgomery county councilman didn't hide his complete disdain for independent schools. watch. >> he has stated for some reason it's okay for children in private schools to be more at risk th

. >> laura: this ticket is too left-wing for reverend wright sean. they've moved way beyond -- way beyond. fantastic show. i'm going to get to it. all right, take care. i'm laura ingraham, this is "the ingraham angle." another busy news night, you know what happened. ari fleischer, mollie hemingway standing by to weigh in on biden's picking of kamala harris for vp. harmeet dhillon is here. check this out, she worked near kamala for two decades in san francisco legal circles and she has the behind-the-scenes a scoop that everyone in this country needs to hear tonight. plus, the media's reaction to the kamala harris pick by biden suggested he now has totally wrapped up the black vote, no need to even talk about the black vote, but is that the case? we speak to some very interesting voices who say not so fast. and my "angle" will come a little later in the show. i'm going to reveal the truth about covid in the red versus blue states. but first, joe biden's announcement of kamala harris as vp, well, it contains a telling tidbit. this is what he said in th

. >>> wright now this powerful hurricane laura is pummelling louisiana, after it made landfall about an hour and a half ago, mere the border with texas. along with intense winds, it's bringing the threats of massive flooding. we've already seen warnings of catastrophic storm surges the national hurricane center saying it could reach over 40 kilometers inland with floodwaters not receding for several days. now water levels along part of the louisiana coastline rose rapidly hours before the hurricane actually hit land. nine oil refineries handling about 50% of u.s. processing are closed as the gulf coast rides out this hurricane. and that's on top of around 300 oil and gas production platforms already evacuated from the gulf of mexico. so i want to go to john defterios. he joins me with more on all of -- joins me with more on all of this. it's certainly been a busy evening here, john. i mean, you've watched the markets. you watch the oil numbers. what do you make of this and sort of the consequences of what we're seeing playing out right now? >> well, there is no doubt about it that la

[applause] >> laura: this got a lot of applause, dinesh, and it's like reverend wright is p back. >>very clever to invoke the t memory of george wallace. the segregationist, by the way, democratic segregationists and democrats and segregation went together. but of course, what wallace was deepening with law and order speech was segregation laws. so what we don't like wallace's, law and orders guide but supporting unjust laws. that is not the case here. what you are talking about is not peaceful protesters but rioters and arsonists. obama is making a deliberately false analyses with a good laws that the feds are now trying to uphold. >> laura: dinesh, don't you also think he's really ticked off that he couldn't drag hillary across the finish line last time around? trump completely embarrassed him. and he has got to win this time because his reputation, being the egomaniac that he is, like a lot of people that run for president are, but he's competitive. he wants to drag biden across, even if the guy can't really campaign r on his own. >> i agree. i don't think he has much left for hil