lvmh. it's been in the headlines as of late. company to report first half numbers as you point out. what are your expectations. >> so we expect for the first half and also for the second quarter we expect organic growth slightly up. i think it's quite an acheemt in this environment. organic growth like spirits and cosmetics with goods a bit legging. >> time in their 30 year history they're selling a fashion brand as well. they're disposing of their donna karen unit too. does this open the door to other disposals. thinking about mark jacobs and miami cruise, which they own as well. >> yes. i think they still need to find a solution for some brands, but overall i don't think they're focused. so it was a good opportunity selling it. it was better managing towards the r u.s. department stores. so i think it's more a single transaction. >> you mentioned concerns about the profitability of fashioned leather and fashion segment in particular, what impact do you expect the terrorism that we've seen in europe to have because we've got a

sales better than expected at lvmh.second quarter. the u.s. and europe but more champagne. sales of the fashion and leather goods business unexpectedly rose. bancofo of spain's is taking a wait-and-see attitude towards brexit. he told bloomberg television it is too early to access the long-term impact of the brexit vote. >> longer-term, i think we need to see how the economy does and what interest rates will be. obviously we are highly committed to the u.k. we have one of the largest banks in the u.k. we think the adjustments will be temporary in any case. we continue to strive to gain market share and to have a stronger presence and a deeper presence in the u.k. mark: the bank absorb costs from closing branches and cutting jobs in spain. that is the latest bloomberg business flash. vonnie: mark, thanks. it is a testament to how things have changed. we have a fed decision due at 2:00. it is widely expected they will not change interest rates, but it's the bank of japan catching our attention to the. today. joining us fo

shares up to $7.44 >>> lvmh will sell its donna karen brand to g3 apparel. under the deal, they'll get the in shares of g3 fell on the news. of to $42.95. >>> amc entertainment sweetened its offer and is buying rival carmike cinemas. it creates the nation's largest theatre chain. carmike down 44 cents at 30.69. outer wall which owns red box, will be ta private by apollo global management for more than 1.5 billion. the deal expected to be finalized in the third quarter of this year. shares up to 52.19. >>> when the big boss says jump, many emplo a exactly why a new e-mail scam known as ceo fraud is so effective at fooling its victims. it counts on doing exactly what your boss tells you to do and fbi says i to a ceo who became a target. >> the perhapp it's called business e-mail compromise or ceo fraud. and the con is simple. swindlers fake ab e-mail from top managers at a company requesting a wire transfer. if ul goes as planned, the money reporting a 270% inkre and something tom cap says he's lucky to have caught in time. >> so, i came into the office one da

the french luxury group lvmh is selling donna karan. house bought the design for the second time in his .0-year history they are known in the industry for changing designers and executives until the brand takes off. claire: let's turn our attention to brazil, just before the olympic games. under two weeks, and locals are hoping they can benefit from all the visitors coming to town. flood ofs international visitors and athletes is expected to head to brazil in just under two weeks' time. there is hope that there will be a bit of a boost for the struggling brazilian economy because the only big games will create job opportunities for unskilled workers. take a look at this report from our correspondent. >> another day and another olympic recruitment drive in rio de janeiro. today they have come in the hundreds, one of the last chances to nab a job at the games. have a few jobs to fill -- cashiers, receptionists, security guards. >> with unemployment in brazil at 11%, work can be hard to come by. among today's jobseekers is a man who came f

one year after the founder of donna karan departed, a rare to run lvmh, it failed this label that once synonymous with workplace or successful u.s. woman. same sort, with the of news, the world's biggest cosmetics company agreed to acquire i.t. cosmetics. the largest acquisition is interesting adding more than 300 skincare and makeup products to its line. to spurcounting on that growth at the time when it is facing a slowdown in parts of asia and latin america. vonnie: we couldn't decide whether he was pronounce "i.t." or "it." mark: i just a guest. vonnie: so was i. their lower today following you guys in europe. rise vicks, you see a nice but it is not at all preaching fear yet. u.s. 10 to ask, the year yield 1.57% it is unchanged. 3-5 year space, that is rising. oil, look at that, i'm of the decline for crude. futures down. another weakening momeny for -- moment for the yen. we continue to want that. the major indices are lower, the dow down half a percent. .2%.nasdaq down caseil: as is often the for the nasdaq, trading down just a little bit. unchanged, but a lot is happening benea

that's on news that lvmh is selling. karen for $650 million. they are seeing nordstrom, gap, urban outfitters, all the retailers gaining momentum. wheels are heard from analysts saying that gap is seeing more favorable conditions, up more than 3%. wynn resorts moving today after j.p. morgan last night said that the macau gaming revenue should turn positive finally in the fourth quarter year on year. when results -- wynn resorts gaining. citye also seeing solar moving today, we have that impending merger. tesla motors gaining more than 3%. movers?any other big the dollar is still strengthening, up for two consecutive days. little change right now, but on friday, touching the highest level since may 30, right now the highest level since may 31. of course, hedge funds and large speculators are increasing their wagers that we could see the fed move, and that could benefit from the stronger dollar. the un's currency against 10 major currencies has been gaining ground. fed funds futures, don't signal the probability of a rate hike in this coming meet

another sector rallying today is the luxury good sector after lvmh reported.ather, it's fashion, it's champagne sales in this country are doing well and that's lifted the entire sector as you can see. air france is interesting. the results are not as bad as many people feared but they are explicitly warning now of a special concern that people around the world will have on traveling to france. the stress tests come out in europe. 5 1 major banks in europe. and the ceo and a lot of reports about the degree of which on monte paschi on friday night. at the same time reuters reporting that the european union has a theoretical plan to wind it down if that's necessary. but the view seems to be that something is going to happen and when everybody gets that data. right back to you. >> more unity on display last night at the dnc. we'll talk to linda sanchez that spoke on stage earlier in the week. dow down two points narrow range. we're back after the break. >>> here's your cnbc news update at this hour. injured after a bombing. and syria. isis claimed responsibility f

. >> lvmh posting a better than expected growth. fashion and leather sales were up u. the fashion houses performance in europe was slightly negative. chris, earnings momentum. i mean are we going to see more positivity coming from european companies given they still have cash to spend? are they going to continue to put it to work even with the uncertainty sgls i think it's been reasonable decedent. a big company in asia, maybe china is beginning to pick up a bit. consumption has been strong. the problem for europe has been earnings over the last year or two. we've been concerned of course with the euro rising over the past six months you again to get a bit of a head wind to earnings. you're right. earnings' momentum is causing this rally and at some point it has to come to an end. >> quite interesting the contrast with the banks this morning and the banks in the u.s. again with the asian activity being subdued. you think asia can outperform here. >> you're seeing in the stock markets. so i think china is probably the thing we don't really see very well. it's opec. we d

lvmh, behind louie vuitton, is selling donna karan.na karan is the parent company of guess what, the namesake in dkny brands. they own brands such as mark new york and calvin klein and tommy hilfiger. >>> more stocks to watch. reached a deal with the pennsylvania attorney general to settle a troeb that includes board resignations. makes a $23 billion offer for it. they control the chocolate maker through super voting shares. 1% move in hershey this morning. >> first quarter profit -- the carrier is backing the four-year targets but post brexit, there's significant downside risks. they've dented consumer confidence and slowed bookings. shares are up today. >>> a new top executive at alliance wants them to forge closer ties. allianz will become more involved in that part of the company than in the past. they named manny roman as a new chief executive. shares are up 1% in germany. >>> it's a heavy week for economic data. we'll get the schiller home price index. the fed also starts a two-day policy meeting on wednesday. durable goods, pend

lvmh has agreed to sell the fashion label after failing to turn it around. is the g3 panel group. as stepped down last year chief designer of the label that she founded in 1984. vonnie: time now for the bloomberg quick take, where we go into background on issues of interest. for some of the best athletes in the world, doping has turned into a long-running cat and mouse game. being of abusers are called out who thought they had gotten away with it. the world anti-doping agency called for the entire russian team to be banned from the 2016 olympics after the report highlighted state elect did -- state-mandated doping. they decided not to go ahead with a full band. -- ban. athletes have been exposed for doping years after the beijing and london olympics. the international olympic committee began prohibiting drug taking in the late 1960's, but thanks to advances in pharmaceuticals, doping has thrived anyways. cycling, baseball, and track and field have seen decades of scandals and high-profile tumbles from grace. including alex rodriguez, lance armstrong, and the