macri is trying to spin this as a positive development getting the imf involved for many it remaindsm of 2001, the big default. it appears like the central bank has lost some control. they had to hike up to 40% the currency has devalued 15%. how do you read this is the imf getting involved here a good thing will it stem some negativity we're seeing around argentina now? >> it is a good thing. the central bank has faced challenges the macri administration has been seeing a gradual approach that granted access to external financing. with a stronger dollar, that is no longer assurassured. >> isn't it a fnk shunction of credit line they are getting they were hoping to get a flexible credit line, but many analysts are thinking that's unlikely >> macri and his team were not specific about what kind of credit line they were looking for. the terms don't seem suitable for argentina at the current time the important thing is the access to resources. availability and financing is the key. he'll pay a high political cost for this domestically. i think the fact they're turning to this and stickin

. >> en argentina el presidente de esa naciÓn mauricio macri anunciÓ que tras la crisis econÓmica acudirÁo temores no solamente en los habitantes si no inversionistas que se repita la crisis 2001-2002. la inflaciÓn se ha mantenido en un 25%. >> en nicaragua los obispos catÓlico anunciaron que se retiran del diÁlogo anunciaron su dimiciÓn que no han llegado a un a dueroed y en su lugar proponen la formaciÓn de una comisiÓn mixta. estamos con sus hijos. >> y me enseÑaron con el micrÓfono lo que estÁ una madre. >> que estÁ herido en un plantel escolar de san josÉ pero el lugar de respuesta es ella quiÉn es confrontada por la ley una historia que solamente verÁ por noticiero telemundo 48. acumulado >>> nos cuentan. >> en telemundo, la primera ediciÓn. >> publicada. >> 184. >> en miles de dÓlares. >> una joya que por poco regala a un amigo quiÉn se negÓ aceptarla. >> aÚn asÍ la ciudad. >> me dice sabes quÉ estamos con el dinero y lo investigamos y no tengo una inversiÓn. >> algo para guardar para ellos en presencia el dueÑo de la historieta la envÍa. >> se ganÓ la loterÍa y pensÉ que tenÍa el

dan: i think the macri administration is still going through growing pains.f the moved out cristina fernandez administration, a lot of things they had to do was lift currency controls and fix all these regulated prices. going been much slower than investors perhaps hoped for. they are also getting used to floating the currency rate. or let's sayulties there were attempts to control the exchange rate instead of letting it float and that has come back to bite them. they used a lot of money intervening in the fx market. they are coming more with the policy to let it go and raise rates and use other tools to try to smooth things out. i think they are big bumps along the road and they are learning from their mistakes. they have lost some time to get down to that 50%-10% inflation level. they thought it would happen this year. it's going to take longer. the story with the business leaders -- i think it was a time when the crisis and this currency market crisis was at its worst. they had to get the business community behind them. cancel,thanks to dan managing editor

president macri and has been dealing with this goal deficit since he took office in 2015. he made cuts to benefits and since then, poverty in the country has soared. the british themepark company has just opened a new attraction at the legoland resort in windsor, and england. it is the largest in the global franchise and now features a lego sized interpretation of this month's royal wedding of britain's and tearing and -- prince harry and meghan markle. the miniature wedding is made up of almost 60,000 lego bricks and is now a permanent display at the sprawling themepark. back over to brent. a fully they make a model of us, brent. brent: or a lego wedding ring. wouldn't that be nice? karon: i prefer diamonds. brent: thank you, very much. the opposition leader has won a majority in malaysia's parliamentary elections. by the national coalition, the 92-year-old was himself a long serving prime minister. but abandoned the coalition the cia has found that the agency will never revert to harsh interrogation methods under leadership. she faced tough questioning during her senate

president macri has offered him french citizenship. turning to belgium, where a gun man killed three people in a suspected terror attack in the city of liÈge. he was shot dead by police. the man is believed to have been released from prison yesterday, and some reports suggest he was on a police watch list. at europe correspondent -- our europe correspondent sent this report, and a warning, it contains flash photography. reporter: gunfire midmorning, and suddenly, confusion. people scramble to get away. within minutes, police-armed response teams were on the scene. a man with a knife had attacked two police women, grabbed their guns, then shot them dead in the street, and then shot a passenger in a passing car, too. street, thep the attacker entered a school and took a hostage. minutes later, filmed from across the road, this is how it all ended. police advanced from the left. look at the center of the screen. the attacker runs out firing. shot by police on the spot. one of the officers was injured in this exchange. this footage was tak

president macri said, if there were no changes, they would be north korea. requires russia and china to agree to that and they were not going to. host: do you see oil prices rising? guest: yes. host: what are the politics of oil prices rising, given the you just said that russia is in this for oil? plans toudi arabia compensate. of up is good for a a lot economies, including russia's, to include other countries that are not in the u.s. orbit. it is an opportunity to see what the next two weeks to 30 days looks like as oil starts to go down because saudi arabia is compensating for the loss of iranian exports. and also iraq will do the same thing. iraq will push out. one of the major concerns i have is that iran starts using iraq as a shell company to offset u.s. sanctions. against him of the reason you are -- european countries won't with them, the rgc is already using it. was interviewed in the "new york times" piece. the fata party is active militia times" to "the new york is called them former militia members here in iran has best members. iran has access

it was a bold move by president macri. remember what happened 17 years ago. i was still in bolivia. we could see the repercussions through the region. this looks like a very desperate theyre, given how disliked are within argentina. the expectation is they will not touch the credit line, but what happens if they do and could this make things worse? seen.o: it is to be it is unclear whether they will negotiate a precautionary problem or one in which they intend to draw funds. i expect they will use some of the fund resources, cheaper money but with access to the market. you can treat it as precautionary, leave the funds there as an insurance line to be used when needed. what are the implications if they use the money? .t is better not to use it but you will be operating under more normal conditions, with access to international markets. be mindful of the political and social implications of re-engaging with an institution that has a bad reputation in win osiris -- in b uenos aires. -- rates hiking to 40%. why is this not -- the argentine peso has overshot fundamentals. prior, it was

senator cardin: i think what president macri is saying -- mac ron is saying that iran has made an agreement a nuclear program. we have the right to enforce extend that beyond the sunset date. that is not amending the program. the president is talking about leaving the program now. that would be in violation of the agreement and could isolate the united states. david: as i understand it, what president macr was talk -- , i'mn was talking about sure many of us would say it would be a good thing for iran to agree to. how much is carrot, how much is stick? senator cardin: that would be very good. we do not need iran's approval for that. the united states congress has given additional tools to impose against iran for its support of terrorism and ballistic missile violations and human rights violations. i am sure the u.n. would work with us to impose those sanctions against iran if they don't change their behavior. we know what they are doing in syria, lebanon, and we know those activities are not acceptable. they are not prohibited by the nuclear agreement. david: i don't understand -- disagreem

supplementary agreement and that was an accessible to the europeans because we said clearly when president macri mishear the jcpoa is in itself -- president macron was her was something jcpoa that would not relent. -- including what happens when the constraints expire in the future, probably will not amend or try to renegotiate with the terms of the jcpoa, which has cathy knows, it took a long time. jane: but progress was substantial on a side agreement for the president -- before the president decided to cancel our involvement. let's turn to trade, which i know is your strong suit, and maybe i will pose this question to you first. the u.s. trade relation with the eu have already been under stress with the trump administration's imposition, which is still delayed, of tariffs on steel and aluminum. now there is -- i do want to call it a threat, but i guess it is a threat, of secondary sanctions which we were just discussing. what the chances of a trade war between europe and the u.s.? amb. o'sullivan: i hope we will not see that. i don't think it is necessary or would be very productive. we are n

in argentina, protests erupted in the capital buenos aires wednesday after president mauricio macri said his government was prepared to take on loans from the international monetary fund, the imf. argentina is still recovering from a massive economic crisis and default on its debts in 2001, which followed years of neoliberal reforms backed by the world bank and imf. this is roberto baradel, secretary-general of the argentine education workers union. have already lived through this. we don't want to go back to the international monetary fund. 80% of argentine is opposed to the president's statements and that is what we are getting mobilized. amy: in malaysia, an opposition alliance led by the former authoritarian leader mahathir mohamad has won a parliamentary majority in a stunning upset that will see the ruling bn coalition lose its grip on power for the first time since malaysia's independence from the -- from britain 60 years ago. mohamad is set to be sworn in today as the world's oldest prime minister at 92 years old. back in the united states, vermont independent senator bernie sand

macri came out with the credit line, nobody bought it.tand-by agreement and an arrangement is the classic one that will apply to a country like this. they could get up to 36 billion, $40 billion. it's up to the imf to decide how much they can get. ukraine got 800% of their quota. so about $36 billion. i think that's most likely but as you say, there will be fiscal adjustments they have to stick to this restrict wage hikes. the government needs to do something to fight inflation as well >> if we look at the major pressure points in currencies, the peso is down 30% year to date also the turkish lira is down as well what is the risk of those two spilling out into the broader em spectrum as well i think this time is different mrs. rheinhart came out with comments yesterday there's a lot of sensationalism going around everybody jumps on board even the guys with the fixed exchange rates, they have adjusted their budgets to reduce the vulnerability to oil price drops. there's a lot of adjustments going on we will see more spillovermarke. >> i wo

i don't believe they have the ability to actually have a nuclear warhead to survive we the macri entry. the toughest country on the entire globe to collect intel on, we don't know for sure. >> shannon: a lot of people were reassured that you said that, saying there is plenty of skepticism is a work toward the summit. congressman, thank you for joining us. as we wait for the sausages to land on u.s. soil, we'll take a look back at how we got here, what did those hostages allegedly do? why were they being held in north korea? details of that as we await the arrival next. ♪ ♪ some moments can change everything. you can't always predict them, but you can game plan for them. for 150 years, generations of families have chosen pacific life for retirement and life insurance solutions to help them reach their goals. being ready for wherever life leads. that's the power of pacific. ask a financial advisor about pacific life. ♪ ♪ i want some more of it. ♪ i try so hard, ♪ i can't rise above it ♪ don't know what it is 'bout that little gal's lovin'. ♪ applebee's new bigger bolder grill combos. now

overall is the story, and at the bottom of my screen, i will make it slightly peso., the argentinian macricing that they are engaged with the imf peso. on a credit line, something they have been discussing over the last several days, hiking interest rates, not the only interest -- issue for these guys. we have fiscal second-quarter results of disney, adjusted at $1.84, higher than even the analysts' estimates. $1.ysts were looking up to 76. billion, analyst looking 13 billion. and the operator profit, analysts were looking for an estimate of $1.65 billion, so it looks like we can compare the adjusted earnings against the estimate, and you are seeing investors bidding the stock higher by 1.7%. let's bring in mediatech's po bibb and another guest. water, what i find interesting with disney -- porter, what i find interesting with disney, when you look at the stock performance, it has not gotten a lot of love, because disney is down, versus the s&p 500. porter: investors do not get it at all. twowater, what i find interestg with steps backward, and they should be blowing the doors off of the c

president maurizio macri's said the loan would help the crisis like the ones argentina has faced beforeut a bloomberg source put the figure at $30 billion. president trump approved a disaster declaration for hawaii with the eruption of a volcano destroying homes and prompting evacuations. the governor asked for help from the white house and emergency management agency. lava has destroyed more than two dozen residences on hawaii's big island. global news 24 hours a day powered by over 2700 journalists and analysts in over 120 countries. i'm tom mackenzie, this is bloomberg. ♪ betty: an update on your markets. we continue to see a stronger dollar. crude continuing to rebound. let's get the latest with julia and singapore. julia: we are starting to see a little bit of a downside to these markets. the dollar stronger for a third session. that is seeing movement on the yen relationship. the nikkei is down by a third of 1% in early trade. the korean market also being weak. we have upside. coming from the asx 200. we have the australian federal budget and most analysts telling us it is quite p

we even talked when president macri on was in washington -- of an was in washington separate agreementions, but unless the european union steps into this, don't expect much oil to be taken off of the market. francine: we are on a new level on oil. you are very good at synthesizing the macro into the micro. does the macro and micro analysis get you to $80 a barrel? jacques: i think it could in the second half of the year. the thing to focus on is global inventories, down 5% in 2017 and declining in 2018 also. the first half of the year is typically when oil inventories get built, and then demand goes up and inventories go down. because of venezuela, we are seeing a decline in inventories all around. in: will we see a decline inventories globally? are there other venezuelas out there? jacques: one is enough. producing,a was supply would equal demand. , we are seeingla a decrease in inventories. withwe will continue julian emanuel. english is the spoken word of bloomberg daybreak. on bloomberg radio, boston, the bay area, this is bloomberg. ♪ ♪ taylor: this is "bloomberg surveillance." le

. $30 billion.s want president mauricio macri spoke to the nation. support to be able to face this new global scenario and avoid the crises we have seen in our history. taylor: argentina's central bank has raised interest rates three times in 10 days to 40%. global news 24 hours a day, on air and on tictoc, powered by more than 2700 journalists and analysts in more than 120 countries. i'm taylor riggs. this is bloomberg. tom: thanks so much. stability in the markets right now. futures up 12, dow futures up 132, euro is weaker. 14.29, crude elevated. yen weakening since about 10:00 a.m. yesterday. there's the argentinian peso. francine: we are global, which is why we are looking at the turkish lira. it is a chart that matters for me today. overall of net european stocks, they are pretty much up and down. , butld collect zigzagging actually they are jumping around. crude rallying after trump's decision to walk away from the nuclear deal. looking at the 10 year treasury yield topping 3% ahead of the crucial bond auction. creditry quickly, three rated se

president macri said, if there were no changes, they would be north korea.res russia and china to agree to that and they were not going to. host: do you see oil prices rising? guest: yes. host: what are the politics of oil prices rising, given the you just said that russia is in this for oil? plans toudi arabia compensate. of up is good for a a lot economies, including russia's, to include other countries that are not in the u.s. orbit. it is an opportunity to see what the next two weeks to 30 days looks like as oil starts to go down because saudi arabia is compensating for the loss of iranian exports. and also iraq will do the same thing. iraq will push out. one of the major concerns i have is that iran starts using iraq as a shell company to offset u.s. sanctions. against him of the reason you are -- european countries won't with them, the rgc is already using it. was interviewed in the "new york times" piece. the fata party is active militia times" to "the new york is called them former militia members here in iran has best members. iran has access to u.s