i'm laura wright.his is bloomberg. alix: thanks so much. it is like the amazon model, but in space. it is a good week for u.s. earnings, especially it is a big week for u.s. earnings, especially in tech -- it is a big week for u.s. earnings, especially in tech. what is so interesting to me is that for the third time in the last four quarters, investors aren't rewarding stocks for beating. they are definitely punishing. you can look at an average 2% stock decline versus the s&p if you miss. if you beat, you're looking at a gain of about 0.3%. so it is really about those expectations to the downside where you are seeing volatility. dani: i think that exactly gets to that point of questions about peak earnings, peak growth. that is on the mind of everyone as we head into this earnings season. on that same note, goldman sachs did lower its forecast for u.s. gdp in the third and fourth quarter, and it says that recovery in the service sector spending could take longer than previously anticipated. david kost

i'm laura wright.sident biden told a town hall there will be near term inflation because the economy is still improving. still, he says that restaurants and others any hospitality industry take longer to recover because of hiring difficulties. senate republicans have blocked bait on the still unfinished infrastructure plan -- blocked debate on the still unfinished infrastructure plan. they struggle to complete details of the $759 billion package. moderate republicans say they still need more time to fill in the details. they say by early next week, there should be enough votes to bring up the proposal. even the most conservative estimate, 1.3 million , could be more than double u.s. in india. they were derived from local government data. at&t posted second-quarter revenue and profit beat estimates. the company added more than 1.1 million wireless customers. analysts expected about 300,000. meanwhile, the warner media unit had a 31% increase in revenue. global news 24 hours a day, on air and on bloomber

i'm laura wright.he two koreas have improved the prospects for a breakthrough in a stalemate and nuclear talks. north korea's kim jong-un and south korea's moon jae-in have agreed to restored relations. they released what appeared to be coordinated statements calling for reconciliation on the peninsula on the 68 denver three of the armistice this hold the fighting in the korean war. in tokyo, a grim new record. the number of coronavirus cases in the japanese capital hit the record today. more than 2800 get the surge comes as tens of thousands of visitors are in tokyo for the summer olympics. on the about 1/4 of japan's population are vaccinated. raining gymnastics champion simone biles is out of the team finals after apparently hurting herself. the u.s. star is widely considered to be the greatest gymnast of all time. her absence will make it difficult for the american team to take a third straight olympic title. china's tencent holdings is suspending new user registration for its wechat services after

i'm laura wright.hina is lashing out with policy. chinese diplomats handed their american counterparts lists of demands. china's vice foreign minister says the u.s. is trying to contain china. house speaker nancy pelosi has issued a warning she won't back off her plan to hold up a bipartisan infrastructure bill until the senate delivers a larger democratic only spending plan. republican senators warned that pelosi's strategy could threaten the deal. bitcoin is approaching $40,000. some are at your beating the rally -- are attributing the rally to an earlier decline. in the u.k., the number of new coronavirus cases has dropped for the fifth day in a row. that is a potential boost for prime minister boris johnson following a chaotic week. johnson's government has sought to encourage a return to normal life over the summer. it has dropped social distancing rules and dunaway with mandatory mask wearing. banks and the eurozone are set to reopen to investors area that would put them back among the highest yi

i'm laura wright.his is bloomberg. ♪ >> we set a new june quarter revenue record of $81.4 billion, up 36% from last year, and the vast majority of markets we tracked moved double digits with especially strong growth in emerging markets, including india, latin america, and vietnam. jonathan: almost called him tim apple. that's a throwback, isn't it? something someone did a number of years ago. good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. wednesday morning, here's the price action on the s&p. we advance a single point, up by 0.03%. a lift on the nasdaq 100, advancing 0.3%. yields higher by a couple of basis points on tends going into that fed decision -- on tens going into that fed decision and news conference. apple in the premarket was just a little bit softer. it is down 0.9%. beats across the board here, but just a sneak peek talking about slowing growth and supply chain disruption persisting. we are down 0.9% to $145.48. tom: the angst is overwhelming. tom ford will giv

i'm laura wright. federal reserve chair jerome powell and colleagues are expected to urge patients today on scaling back urge -- urge patience today on scaling back policy support. the delta variant is seen as giving powell another reason to be cautious. stocks in china and hong kong halted a three-day selloff. state run tried to reinsure -- to reassure investors shaken by the regulatory crackdown against education, tech, and the property sectors. the british government is about to end foreign teen for visitors from the u.s. and european union if they have been fully vaccinated. instead of isolating come of those travelers would have to takeover tests for leaving for the u.k. and after they get here -- isolating, those travelers would have to take covid tests for leaving for the u.k. and after they get here. pfizer raised its earnings forecast. at the summer olympics, u.s. gymnast simone biles defend her title and the individual all-around final competition. she withdrew from the event today, a day aft

i am laura wright.stigation into the attack at the capitol. in the first public hearing, members of the panel made it clear that the former president's activities are a central focus of the probe. yesterday, there was dramatic testimony from four police officers who helped defend the capitol. there is a mask wearing requirement for lawmakers and others while they are on the house floor. violators can be fined. several staffers have tested positive in the last few days. an internal investigation into the scandal. the swiss bank failed to properly monitor billions of dollars of exposure that piled up while handling trades but generated little revenue. credit suisse lost $5.5 billion. simone biles will not defend her title in the individual or all around competition. she withdrew from the competition after withdrawing from the team competition. biles will focus on her mental health. u.s. gymnastics says she will be evaluated daily and take part in next week's finals. global news 24 hours a day, on air and

here is laura wright. the u.k.orted a drop in new coronavirus cases for a fifth consecutive day. some 29,000 new infections were recorded on sunday, down from 50,000 on july 17. any impact from last week's removal of restrictions is yet to be reflected in the data. the top u.s. infectious disease expert says the country is moving in the wrong direction in combating a new wave of covid-19 infections. anthony fauci says with half of the country still not fully vaccinated, the u.s. faces a worst-case scenario of daily deaths reaching 4000, the same level as during last winter's peak. 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. anna: laura wright here in london. coming up, traders are gearing up for more fed induced volatility amid rising virus cases. we will focus in on the fed, next, with tatjana puhan. this is bloomberg. ♪ anna: welcome back to the european market open. 40 or so minutes ago. european

your is laura wright. laura: the british cap -- here is laura wright. ura: the british government says people are expected to continue wearing masks even after restrictions are lifted on july 19. the vaccine minister told the bbc that face coverings will not be mandatory, but there will be an expectation for people to wear them. g20 ministers endorsed a global corporate tax deal that faces domestic political hurdles. janet yellen was optimistic lawmakers can approve an international minimum rate of 50% this year as part of a fast track budget bill. treasury secretary did not say if the plan would require a two thirds vote in the senate and almost impossible given the republican opposition. italy won a dramatic euro 20 final against england in penalty kicks after a 1-1 draw. england scores the first goal of the match but the italians were in control for most of the rest of play. leonardo had the equalizer in the second half. extra time did not change much and the final shootout was ugly with italy missing two, and the english, a heartbreaking global three

here is laura wright. ura: the trump organization's longtime cfo pleaded not guilty to fraud and theft charges. he is facing 15 felony counts from the manhattan district attorney which alleges that he engaged in a sweeping scheme to avoid taxes, the first criminal case to emerge from an investigation of former president donald trump and his business dealings. neither trump nor his sons were named in the charges. richard branson is planning to fly to spacex days before a similar trip by jeff bezos. virgin galactic will launch his three employees and two pilots from a site in new mexico. the company says he will evaluate the experience on the trip, which will be its fourth spaceflight with crewmembers. jeff bezos will fly with blue origin. some are in the northern hemisphere is just days old but the extremes keep piling up. the heat has smashed records in the pacific northwest. within three people died in british columbia and more than 60 in oregon due to the current wave of extreme temperatures. global news,

. ♪ laura: with the "first word news," i am laura wright.hinese diplomats handed their american counterparts lists of demands. china's foreign minister says the u.s. is trying to contain china. house speaker nancy pelosi has issued a warning, she will not back off plans until the senate delivers a larger democratic only -- democrat only spending plan. a growing number of public health experts in the u.s. are urging the cdc to revise its guidance on masks. they say the agency should recommend even fully vaccinated people should wear in public. in the u.k., the number of new coronavirus cases has dropped for the fifth day in a row. that is a potential boost to prime minister boris johnson, following a chaotic week since the listing -- lifting of pandemic restrictions. johnson's government has sought to return to normal life with the summer. they dropped social distancing rules and done away with mandatory mask wearing's. bitcoin is soaring and approaching $40,000. summer are treating the rally to trade and there was also speculation on amazon'

i'm laura wright. laura: a group of u.s.ators is closing in on $579 billion infrastructure bill. they agreed to pay for it in part by delaying a costly trump medicare regulation. any deal could face opposition from democrats in both houses of congress. the biden administration has announced some help to some foreclosures in the wake of the pandemic. enhanced assistance will be provided for homeowners with government-backed mortgages. tim barrack is back in federal court. the trump ally will learn whether he will be released on jail after being charged with illegally lobbying with the united arab emrates. his lawyer says he's not guilty. global news 24 hours a day. quick take, poured by more than 2 k. 700 journalists and analysts in more than 120 countries. i'm laura wright, this is bloomberg. alix, importantly it's the olympics as well what support do you watch? alix: gymnastics. i'm a huge gymnastics fan. looking forward to that. next week we get tech earnings. expecting the fed to raise rakes. previously felt. greg branch

i'm laura wright. china lashes out at u.s. policies in the first high-level talks between the two countries in months. they handed their american counterparts lists of demands. they said the u.s. is trying to contain the chinese. the state department says it welcomes competition between the two, but does not see conflict of china. the white house and democrats have moved to reach a compromise with republicans on that 579 billion dollar infrastructure package. bloomberg has learned that last night, they made an offer covering all outstanding issues. among those items, funding for water, transit, and how much unspent covert money can be used for infrastructure. there's a time crunch involved. congress involves on a five week break august 9. the price, $2.9 billion in cash. -- had roughly $600 million in revenue for the fiscal year that ended in june. the sale indicates they are making progress on overhauling the company. banks and the euro zone set to reopen the cash cap to investors. that will put them

i'm laura wright.uth florida, demolition crews used explosives to bring down the remaining portion of the partially collapsed condo building. hours later, they reported they down three more victims in the rubble. that brings the death toll to 27, with almost 120 still missing. president biden has all but announced an end to the pandemic in the u.s. he celebrated what he called a heroic vaccination campaign on the country's independence day holiday. the president missed his goal of having at least 70% of adults in the u.s. getting at least one dose of a vaccine. the total is now 67%. the vatican says pope francis is in good condition a day after he underwent surgery to remove half of his colon. a spokesman said the pope was alert and breathing on his own. he's expected to be hospitalized in rome for about seven days. 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. i'm laura wright. this is bloomberg. guy: thank

i'm laura wright.his is bloomberg. ♪ >> i am fully committed to passing a bipartisan infrastructure bill. centers should be on notice that the senate may stay in session through the weekend in order to finish the bipartisan infrastructure bill, and as i've said before, further delays may mean the senate will remain in session into the previously scheduled august recess. jonathan: senate majority leader chuck schumer. alongside tom keene and lisa abramowicz, i am jonathan ferro. coming into tuesday at all-time highs on the s&p and nasdaq. we are -13 points lower by a third of 1% on the s&p 500. from the treasury market, a bid into treasury yields. we are down to 11 on a u.s. 10 year. lloyd austin in singapore, criticizing china, going on to say --here is the headline that sticks out to me. the specter of coercion from rising powers, this along with u.s. officials saying yesterday, reportedly for chinese. tom: we start the show i'm economic finance investment and look at the united states international r

i am laura wright. this is bloomberg. ♪ >> we have a pandemic among the nonvaccinated. if you are vaccinated, you are safe, if you are vaccinated you have over a 98% chance of never catching this virus at all. the vaccines are good against all other variants out there. jonathan: the cdc called it another pivotal moment and that was the president of the united states. this is bloomberg surveillance. alongside tom keene, i am jonathan ferro alongside taylor riggs. the s&p adjusting with more points. up another .1%. the year was all over the place, 120 930, yields advancing. the euro-dollar slightly yeah -- slightly negative. 1.1764. the dollar index looking at 93. outside of the commodity market 71.95, -- 71.93. we are unchanged on wti. let us look at tkdd getting absolutely hammered in the premarket. 9.32 down why 8.63%. if you are a chinese company listed in america and your name is didi global, -- tom: can you imagine the roadshow for the golden dragon chinese index. down 35%. the chart looks like bitc

i'm laura wright. bipartisan group of u.s. senators is closing in on a 579 billion infrastructure deal -- $579 billion in for surgery deal. they are paying for it -- billion infrastructure to beale -- infrastructure deal. they are paying for it by offsetting a costly trump era regulation. policymakers are likely to put an emphasis on mortgage-backed securities. economists surveyed by bloomberg said raising interest rates have risen quicker than they thought. some promising news about pfizer's coronavirus vaccine. israel's health ministry says it provided a strong shield against more severe diseases in cases caused by the don't a variant. but the vaccine was only 39% effective in preventing infections. that is likely to fuel debate about whether booster shots are needed in those who have already been vaccinated. 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. i'm laura wright. this is bloomberg. ♪ >> i think as

laura wright in london with your business flash.e program, angela merkel heads to washington, d.c. detells a of that next. this is bloomberg. ♪ anna: welcome back to the european market open. 22 minutes into thursday's tradings session. european equity markets deteriorating. the ftse was flat. now moving to the downside. germany's angela merkel is in washington, d.c. to meet with president biden in what may be her last trip as chancellor. some key transatlantic differences remain. very nice to have you with us. what are the chances of an agreement between the u.s. and germany on in order stream 2? -- nordstream 2? >> the talks are difficult. obviously, expectations are high that when merkel travels to washington and nortstream has been at the top of the agenda that they come up with something where they are at least near a compromise. obviously nordstream is a difficult issue. germany is economically dependent on the gas supply by russia. the pipeline is basically an economic project. the u.s. should not mix into this. this is not r

i'm laura wright.s is bloomberg. ♪ ♪ >> we will not flinch when our interests are threatened, yet we do not seek confrontation. so let me be clear, i secretary i am committed to pursuing -- as sec. i am committed to pursuing a constructive, stable relationship with china. jonathan: that was the u.s. secretary of defense lloyd austin speaking in singapore. good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. as we count you down to the opening bell two hours and 12 minute the way, your equity market on a five-day winning streak on the s&p 500, down five points now. equities off the lows, just 0.1%. the earnings beats are piling up . ubs, gm, take your pick -- ubs, 3m, ge, take your pick. tom: the conference calls will be fascinating. right now, let's tie in lisa abramowicz's observation on labor participation, julian emanuel's enthusiasm for the market waiting for a jobs recovery, with our check fitzpatrick -- our jack fitzpatrick of bloomberg politics. for those of you on radio, t

i am laura wright. this is bloomberg. ♪ >> the vast majority of the experts including wall street are suggesting that it is highly unlikely that it is going to be long-term inflation that will get out of hand. there will be near-term inflation because everything is trying to be picked back up. jonathan: the president of the united states speaking at a cnn town hall. good morning. i am jonathan ferro. here is the price action this thursday morning. some three hours and 12 minutes away, your s&p 500 looks like this. advancing 0.16% on the s&p 500. following a two day on the s&p supported by high yields over the last couple of days. still stuck at 130 from the lows of tuesday morning. going into the ecb decision, one hour away. euro-dollar, 117.92. tom: so euro-dollar is not giving me much. the vix, not a record high, but it is getting there slightly with dow futures up 70 right now. -- up 73 right now. in washington in the unseemly chaos, the president talked about chaos and a filibuster, but i lost count

i'm laura wright.er record for home prices in the u.s.. they were up 16.6% in may, the most in more than 30 years. that is according to the s&p corelogic index. surging prices have made it harder for buyers to find properties they can afford. shares of general electric are rising. growth in ge's jet engine division promises to raise its cash outlook. that has led to optimism that improving air travel will give a boost to ceo larry culp's turnaround efforts. shares of tesla are higher. the electric car maker better-than-expected second-quarter earnings. strong sales delivered $1 billion in net income, and now stone for elon musk's company. that is the bloomberg business flash. dani: thank you so much. five of the largest companies on the s&p 500 are reporting quarterly figures just this week. bloomberg stocks editor dave wilson has crunched the numbers on how they affect the market. $9 trillion reporting today alone. is this going to have a massive read across through the entirety of the market? dave: t

i'm laura wright.his is bloomberg. ♪ pres. biden: we are in a position where the united states invested more money in research end of element three or four decades ago then any nation in the world. now we are number eight. competition in the 21st century. that's what is at stake. jonathan: the president of the united states. from new york city this morning, good morning. alongside tom keene, i'm jonathan ferro, together with taylor riggs. lisa coming back to work i understand on monday. tom: rumor has it. jonathan: this is the price action this friday. your equity market with a lift once again, a three-day winning streak into friday, advancing 0.4%. outside of that, yields a little higher on the 10-year to 1.2847%. up about a basis point on the day. get to a stock to have a look at, didi. getting crushed, down 10.39%. coming into friday, down 26% from its ipo price. just pretty ugly out there. tom: from the peak, i think it is a 35% move. i wonder what the ramifications are less for the chinese, but mu

here is laura wright. pollo global management is evaluating a possible offer for supermarket group morrison. the u.k. grocer agreed to a deal over the weekend. the deal put forward by a consortium led by fortress investment group is at a premium of more than 42% to the closing price prior to an earlier bid for the grocer. syngenta is looking to raise money for their ipo. the swiss seed and fertilizer business is aiming to list on shanghai's nasdaq style board. syngenta was acquired for $43 billion in 2017 in china's biggest foreign takeover to date. shares soared after a $15 billion u.s. takeover offer for my group in one of the biggest global trades. still below the level it traded before the pandemic. that is the bloomberg business flash. anna: thank you very much. coming up on this program, europe's industry forces see price hikes ahead as supply chain disruptions limit their ability to match demand. we hear from the ceo of michelin. that conversation next. this is bloomberg. ♪ anna: welcome back to the

anna: thanks, laura wright in london.health organization is urging caution on reopening's worldwide. with most regions seeing rising case counts, the death toll globally has topped 4 million. we will get the latest on the fight next. ♪ anna: welcome back. 7:42 in london. european equity market futures pointing to the upside, up by 0.3% to 0.5%. maybe some leisure stocks might get a boost from some of the things that happened at wimberley yesterday. expectations for more celebrating, perhaps. maybe that will be priced in to some leisure stocks. we are talking about football. there was a football match last night. the results are dominating london. take a look at today's front pages. "the daily mail" going with "kane you believe it?" getting to the final is a big achievement, but certainly when you have been waiting 55 years to get to the final, that is what the 30 years of hurt, and 55 years of hurt is all about, from that famous song that england likes to reference. what i apologize to you for telling you what the result

for that, here in london, laura wright. laura: americans should avoid travel to the u.k.ecause of a surge in covid-19 cases. that is the warning from the u.s. state department. the move comes after the u.s. cdc raised its u.k. travel alert to its highest level. at the country added more than 100,000 new cases over the weekend. seen certificates are set to become a requirement to enter nightclubs and other large indoor venues in england from the end of september. the proposal marked a shift for boris johnson, who has been reluctant to endorse compulsory vaccine passports. nightclubs in england reopened yesterday for the first time in 16 months as the country swept away virus restrictions. three chinese cities including beijing are warning of power outages as historic manned and supply shortages strain energy grids. electricity use will have scheduled disruptions in order to avoid overloading networks. the corporation says 11 provinces reported record demand and peak surges last week as temperatures soared. global news, 24 hours a day, on air and on bloomberg quicktake, pow

here is laura wright in london. to raise -- as the bidding war on wall street heats up. salaries range from 100,000 dollars for first year analysts to $225,000 for third year associates. salaries have been rising as funds struggled to attacked and -- attract and retain talent. pimco's female workers allege it operates like a fraternity. in orange county judge in california rejected requests to throw out the claims in a lawsuit that the company culture marginalizes women. a pimco spokeswoman declined to immediately comment. the company behind soho house sells 9.6% in its trading debut after raising $420 million in its ipo, priced at the bottom of the marketed range. the company, which turned a profit loss of $93 million in the 13 weeks ending april 4, compared with $45 million in the equivalent. of your -- equivalent period a year ago. the company had $826 million in debt. that is the bloomberg's has flash. anna: laura wright in london. german chancellor angela merkel had what is likely to be her final trip to washin

laura wright is in london with an update. ura: france is limiting the use of a digital health pass that provides evidence of covid cases and vaccinations. a newspaper was told they would only be needed to enter bigger shopping centers. the move comes after thousands attended weekend marches to oppose government plans to extend the use of digital passports. angela merkel says there are barely any words in the language to explain the devastation from the severe flood which hit the west of the country last week. the german chancellor was speaking as she surveyed the damage and a visit to the affected state. at least 188 people are known to have died across the country, with scores still missing. opec and its allies have struck a deal. saudi arabia met the uae halfway and its demand for increased output, overcoming a conflict. the agreement means monthly supply hikes of 200,000 barrels a day starting next month, with the uae, saudi arabia, and russia increasing production. the american father and son team were flown out of japan a

anna: laura wright in london.s hopkins school has been discussing with us the risks around the covid-19 delta variant and the urgency to vaccinate or people. let's get an update. >> there are parts of america that are 40% vaccinated or 35% vaccinated and those are the parts that are not only seeing an increase in cases but also hospitalizations due to the delta variant. it is like, here we go again in those places. it is important to be vaccinated but more generally it reflects a big problem we are having. >> i get that but what we do the parts of the country that are 60%, 70% or more vaccinated? do we have to amend our lives because another part of america is down at 38%? >> as long as there are places at 38%, the places at 70% or 80% will be at risk. what about people that have conditions where the vaccine does not work so well for them? they are immunocompromised or children or older adults. >> i apologize for interrupting but this is a crucial point that i have not heard before. the vaccine does not work for c

laura wright in london.ing up on this program, extreme valuations as mega cap tech stocks rebound. we discussed the value of these tech giants with peter toogood next. this is bloomberg. ♪ ♪ >> the next couple of weeks might be hard, until we get to summer holidays and then we should see a clear situation which should be alleviating. we should even recover some of the lost volume. next year should be better and i would say within two years's time, we should have enough capacity for the whole industry again. anna: vw ceo herbert diess speaking about the semi conductor shortage as the automaker plans to build more ev's in the united states. major u.s. tech and internet stocks have returned to favor on wall street, renewing concerns about valuations. the s&p 500 information technology index is up 16% year to date, with apple and amazon leading the group's latest rally. let's talk about tech evaluations, something i don't peter toogood can get -- something that i know peter toogood can get very animated about. t

i'm laura wright. at&t posted second-quarter revenue and profit that estimates.ompany -- that beat estimates. analysts expected about 300,000. the warner media new unit had a 31% increase in revenue. there was continued growth in subscribers to the hbo max service. american airlines is sounding more cautious about the third quarter than its rivals. the carrier expects a pretax loss despite a travel rebound. american expects sales will be down about 20% from the 2019 levels before the coronavirus pandemic hammered demand. china is considering serious penalties for didi after the ride-hailing service's controversial ipo last month. the country's cyberspace administration has pushed back against the ipo. among the possible penalties, a fine, suspension of operations, or the introduction of a state owned investor. that is the bloomberg business flash. alix: thanks so much. let's stay with earnings for a second. texas instruments reporting 41% sales growth for the third quarter -- for the quarter, but it is the outlook tha investors. dave wilson is with walk us throug

laura: with the first word news, i'm laura wright. president biden is dismissing concerns that the u.s. would experience persistent inflation. he told a cnn town hall last night there will be near term inflation because the economy is improving. still, he said restaurants and others in the hospitality industry might take longer to recover because of hiring difficulties. while the senate works on the infrastructure bill today, president biden will host a business and labor leaders lunch at the white house. he will make a point to the frequent adversaries to come together to support the bipartisan infrastructure framework. senate negotiators are close to a deal that would allow lawmakers to begin debate on the legislation. the u.s. and germany have made it official they finished a deal approving completion of the controversial nordstrom -- controversial nordstrom to -- controversial nord stream 2 pipeline. this allows germany to take action if russia tries to use oil as a weapon against ukraine. -- we'll spend more than $47 billion this

let's get a bloomberg first word news update with laura wright in london. ura: covid-19 is continuing its rampage through asia with south korea and thailand reporting record infections. japan's top virus advisors has new cases in tokyo could hit a record in early august before the end of the olympics. infections are continuing to rise in australia despite a strict lockdown across much of the country. in the u.s., the cdc says the delta variant makes up 33% of all cases in the country, up from the beginning -- 83% of all cases in the country, up from the beginning of the month. the 1.5 million stock appreciation is worths than estimated $50 million. jamie dimon, who has been the ceo since 2005, would need to stay on for another five years in order to capture a profit. bloomberg learned the u.s. and germany are close to a deal on the gas pipeline and under the draft agreement. germany would take unspecified actions against russia if it tried to use a weapon against ukraine. if confirmed, it marks a concession from chancellor angela merkel. global news, 24 hour

i am laura wright. this is bloomberg. guy: thank you very much. ing about over the weekend. certainly celebrating the fourth of july weekend, there was laura was saying missing some of the targets. i think that could come back quite significantly. we are looking at how the delta variant is evolving in europe. today markets tracking higher. equities getting a lift in europe. with u.s. closed on the fifth of july, very light volume in europe. the equity market, the stoxx 600 up 3%. -- up .3%. the pound up a few percentage points as well. we are waiting for boris johnson to make an announcement later on. banks are higher, basic resources higher, travel and leisure higher. back to the opec story in a moment. this is bloomberg. ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your en

here's lower wright. laura: thanks, anna. for $2 billion, that it can help force. the offer trumps an earlier bid for the u.k. fund by carlyle group back in may. for the first time since the pandemic again, u.s. hotels are outperforming pre-covid levels, revenue for available rooms, which provides occupancy and prices with more than 5% higher last week compared to the same period in 2019. that's according to data from analytics, spr. phoenix and arizona saw the best gains in major markets. new york continues to struggle. something will sink an additional $5 billion in american companies which hold the firm to approving the new capital allocation, which would double its commitment to the region to $10 billion. southbank will also expand investment from a startup brand to state and public companies. morgan stanley says the personal information of some of its customers were stolen after one of its contractors was hacked. the banks has the data breach exposed names, dates of birth, and social security numbers, not passwords. it d

laura wright here in london beijing.hem to block a chinese company from listing overseas even if the selling share was outside china closing a loophole long used by the technology giants. joining us now from beijing is our executive editor from greater china. this is quite technical in some of the details but maybe the direction of travel is clear. what have we learned? what is the change? >> it is the key phrase there, closing a loophole. for ages more than a decade, chinese tech companies, alibaba for example, listed in the u.s. by using an invariable interest entity and set up a company in the kayman i'll island or the british virgin islands and that company is what listed, not the excise chise company in china. in old days they had no way to regulate that listed entity. now they are making changes that would force these companies before they could do that listing through a vehicle registered somewhere outside of china they would force them to seek approval from the chinese government. we have seen it. they would have

. >> laura wright here in london., with microsoft, apple and alphabet earnings due out today. tesla has reported better than expected second-quarter results. strong sales of the electric vehicles delivered $1 billion in net income. a milestone for the company. here is elon musk on the future of ev. elong: public sentiment is at an inflection point. at this point, i think everyone agrees that electric vehicles are the only way forward. anna: electric vehicles the only way forward. richard winds are joins us. the founder of the independent research company, radio free mobile, good to speak to you. a lot of companies would agree with elon musk that ev's are the way forward. we are seeing all manufacturers putting their money into electric vehicle development. are you skeptical of that or skeptical of the valuations of tesla? or are you not skeptical of tesla at all? richard: the way to think about tesla is, it's a story of two halves. the first half is the fundamental half. in tesla is doing pretty well. it has executed

anna: laura wright in london with our business flash.g up, we get more from the ceo of credit suisse. ♪ anna: welcome back to the european market open. 15 minutes to the start of the cash equity session. in europe, futures mixed, flat perhaps. dax futures lackluster. let's talk about the earnings story out of switzerland. credit suisse profit misses estimates as it works to recover from one of its most turbulent periods since the financial crisis. scandals reverberating across the wealth management business. i spoke with ceo thomas gottstein earlier this morning, and he promised no more -- thomas: we are doing this strategic review together with the board of directors and executive board. we are having constructive discussions. we want to take our time to do that, because this is not something we want to do in a rush. we have a clear intention to formalize a long-term vision for the bank and a concrete midterm plan. this is what we are doing together with the board of directors. we are looking at all the options, but we have clear views

here is laura wright. laura: bridge point group confirmed it is going ahead with a london ipo.ts after announcing last week it aims to list at least one quarter of its shares to raise around 300 million pounds. the u.k. private equity company invests in middle-market funds across europe and it has stakes in burger king franchises and the asian inspired food company. an agreement to develop the retailers online business in spain. companies will initially build a fulfillment system to serve the madrid reason in 2024. separately, they reported ebitda ahead of the average analyst estimate. china's antitrust regulator is said to be about to formally block tencent's proposal to merge with two top video streaming sites. mortars reported the company has not figured out how to meet government requirements on giving up exclusive rights to the content. officials announced the review of the $6 billion transaction in december of last year. that is your bloomberg business flash. anna. anna: coming up on this program, boris johnson plans to end all social distancing and make masks voluntary f

anna: laura wright in london. coming up, the eu's covid digital passports go live today.hat the new system will mean for international travel. ♪ anna: european equity futures improving. nissan and partners to invest in u.k. ev production hub. the japanese carmaker will make electric crossovers in sunderland. investments into the u.k. auto industry. a rocky period since the brexit referendum, a rocky relationship between carmakers and the u.k. essentially. honda will shut a factory that employs about 3500 workers. this investment is set to create more than 900 jobs. that is something we will keep an eye on. later on we will be speaking to the nissan ceo out after 9:00 a.m. london time. the eu covid-19 vaccine certificates go live, seen as the key to saving summer for many. spain is hopeful tourists will soon return. let's get more now. bloomberg's maria tadeo is very lucky and she is in madrid. just how important is this season for spain? >> you know, we are in madrid. i'm happy to be on this assignment. the sun is really shining. it has been a beautiful day so i can't com

anna: laura wright in london. coming up, learning from history.ting the card says the european central not repeat the errors of past policies. we will discuss the new guidance next. this is bloomberg. ♪♪ >> the recovery in the euro area recovery is on track but the pandemic continues to cast a shadow especially as the delta variant constitutes a growing source of uncertainty. inflation has picked up although this increase is expected to be mostly temporary. we expect inflation to increase further over the coming months and to decline again next year. we will be levering our projection in september will be more indicative of what we see on the outlook front. at the moment, we project 21, 22, and 23. we want to see at least 2% on the horizon but well ahead of this horizon, we did not have unanimity that we had an overwhelming majority about the calibration of the forward guidance on ecb interest rates. it is not intended to keep the interest rate low for longer. it is intended to deliver on our objective and to reach the target of 2%. this is what w

here's laura wright with the corporate news you need to know. >> twitch engineering giant abb says --cond-quarter be estimates. they revenue -- revised revenue hired to just below 10%. >> all costs of got up. we'll be transferring some of that for customer, we are also trying to become more efficient in our operations. jack should drive the margins to these record levels that we have this quarter. >> aramco after -- a $50 million ransom. earlier reported that one group of data had been held by extortionate -- on the darknet. texas instruments in late trading. the chipmaker indicated uncertainty about whether the increased demand during the pandemic will continue. the run-up in sales has analysts and investors concerned about panic buys, which have led to crashes in the past. 85% of companies have all right report on the s&p 500, expectations about those forecasts. >> across not texas troy into europe, we have -- trading flat. either in line with market performance or just a little under for those chip in europe. in naples today for a comet summit. -- eek john kerry has been speaking n

anna: thanks, laura wright, here in london. germany raises its revenue target for the next year.e will bring you our interview with the deutsche bank cfo next. ♪ anna: welcome back to the european market open. european equity markets looking fairly flat. busy digesting a loss of earnings this morning. one of the companies reporting is deutsche bank, and with results this morning from frankfurt. germany's largest lender is raising its revenue target for next year after beating expectations on fixed income trading. we spoke with the banks cfo. >> we have a portfolio of strong businesses. while we did see a normalization of activity in product areas like rates and fx in particular, our relatively strong credit businesses, both low trading, distress trading particularly, performed very well in the quarter, and you see that coming through in our relative revenue performance. anna: what does that tell us about the path ahead? trading has been slowing in some areas, but you point out various parts of that strong performance you reported, so what can you tell us about the normalization a

. >> wright, well, laura, what the left is using here is not the very good jurisprudence on the schoolsck the doctrine of in loco parentis. and they are using a different doctor in, so, for example, when we are talking about covid and vaccines, they are using basically be in doctoring of the emergency, so the jacobson doctrine, and doctrines that have been used to sterilize people with low iqs in our country, that line of -- americans on both sides of the political spectrum have long ceded authority to our schools, republicans preside over the expansion of the department of education and federalization of it. now we have gone down that path where schools are turned to for safety, feeding children, filling in the role of the parent, so it is not a surprise that the left and the establishment there and the teachers union is overreaching in this regard, but what they are really doing is there substituting themselves for the parents. often, the parents are absent, or in many places like ian is mentioning, the parents are not absent, they are right there but virtually helpless thanks to the

get georgette wright is responsible for the content of this advertising. >> sean: here is lower. happy monday. >> laura: hey, that last little clip of biden, i thought you were doing one of those old conan o'brien things with the mouth just moved. i didn't even know that was actually -- was that actually president biden? it looked like the lips were just moving in the head was not moving. >> sean: people knew the real laura ingraham that i've known, you have a wicked sense of humor. that's all i can say. you really do. >> laura: thank you, hannity. thank you for highlighting the georgia group. i love it. great show. all right. i'm laura ingraham this is the "the ingraham angle" from washington and we have new details indicating that enough illegal votes occurred in the georgia election to tip the results. the full report in moments. plus, new issues surrounding hunter biden's potential art deals. and why are harry and meghan getting another award which among raymond arroyo explains it in "seen and unseen." but first, the anti-democrats, that's the focus of tonight's angle. all right. for years, the dem

get georgette wright is responsible for the content of this advertising. >> sean: here is lower. happy monday. >> lauran, i thought you were doing one of those old conan o'brien things with the mouth just moved. i didn't even know that was actually -- was that actually president biden? it looked like the lips were just moving in the head was not moving. >> sean: people knew the real laura ingraham that i've known, you have a wicked sense of humor. that's all i can say. you really do. >> laura: thank you, hannity. thank you for highlighting the georgia group. i love it. great show. all right. i'm l