i'm manus cranny. we have jon ferro. mark barton.re giving me a very hard time in that commercial break. let's get back to markets. >> it was warranted. >> absolutely. >> let's give france a hard time. >> p.m.i.. >> we don't like french much. >> i don't think people like french data. the bar is low. will they trip? the forecast coming in at 49.6. everybody positioning the france situation versus germany. they have dropped their budget deficit targets. growth this week. >> for me it is not about france vs. germany. it is about france vs. the e.c.b. everybody is taking this bad news and good news. draghi has been talking politics as much as he has been talking monetary policy. >> italy once again and france saying you need to make the structural move. > draghi barely talked about monetary policy. 60% to 70% of his speech was about politics and reforms. if he felt so strongly about that, hardly doing himself any favors. it is a real stare down now between monetary policy. >> the last couple of days -- >> listening to some of the noise c

. >> i am manus cranny. we are waiting for the numbers. >> with bated breath. >> you have the carlsberg numbers. when heineken comes down we can go to that. carlsberg has cut its full-year profit outlook. the earlier forecast was for adjusted net income to rise by low single-digit percentages third what they said is adjusted net income won't fall by mid-to high single digit percentage. what we care some much about carlsberg, not only because it is the world's fourth biggest brewer, russia is its biggest market. what it says about russia is fascinating. market volume in russia down by 6%-7% in the first half. its market share has fallen sees8 basis points and it the russian beer market down by a high single-digit percentage. its earlier forecast was a mid-single-digit drop. revenue threatened by political tension over ukraine. the weakening global and government efforts to curb drinking. we'll come back to carlsberg in a second. heineken is all yours. >> can i be a seamless as that? first-half consolidated re

i am manus cranny. scrapping west african roots in response to the deadly ebola outbreak. most airlines are flying with hygiene checks. british airways is suspending flights to sierra leone and liberia until august the 31st. walt disney's profit topped estimates. by "captainueled america: the winter soldier." the 2013 hit film "frozen" continues to deliver profit for the company. -- it hassence has presence in error theme parks. it is down in orlando. it will be part of abc's prime time programming on sunday nights, which we are really happy about. there is a "frozen" theme to "once upon a time." is that right? there is a lot in my head right now. i feel like there is a lot more life in "frozen" and we have seen. >> apple and samsung have struck a deal to wind down their global patent battle. the companies have agreed to drop all suits against each other in countries outside the u.s. the companies may be nearing a conclusion from what has been a drawn-out patent war. >> 7:44. joining us for more on appl

manus cranny has more.man 10-year yields dropping below 1%. >> we have it in splendid tech any color. what does that actually mean? what does a buned yield below 1% mean? -- bund yield mean? does it mean that q.e. is on the way? does it mean that we should be more concerned about risk in the markets perhaps than we already are. i know we're flirting with 1% at the moment. certainly it is quite a dramatic statement. stagnation in france, contraction in germany. triple dip recession in italy. they say don't worry. a couple of little things helping us along the bay. more sanction also come along the the near term. the domestic demand is holding up in germany and that is something to be grateful for in terms of through those g.d.p. numbers. the rest of the equity market, london is looking to eke out gain, a big dividend gain. of course it is loflation. the new phrase i picked up if the i.m.f. that is what the i.m.f. are worried about. that's actually what is going to drive the next big move. underwhelming. if y

manu -- >> follow me on twitter. >> manus cranny.out the impact to have premiere league. ♪ >> welcome to "on the move." i'm jonathan ferro from london. we are minutes away from the open. forad news good news european stocks? is this market getting too excited about the prospect of stimulus. joining me is hence nichols, ryan chilcote and caroline hyde. >> i am in brussels where there is an emergency meeting of foreign ministers. on the agenda -- ukraine and iraq. there is unlikely to be a new round of sanctions on russia. but they do want to assess the impact of the import ban on food stuffs. ryan? the ukrainians and russians are going to sit down at the same table with their french and german counterparts. we heard it first here from the ukrainian foreign minister on bloomberg television. he made that announcement a half hour ago, said that meeting may take place this weekend. those convoys on the ground. one of humanitarian aid. a russian convoy. soon for dan yet -- donestk. you have armored personnel carriers moving into ukraine. >

it is manus. banbigger issue is the food . nearest issue we have had raised is the food ban imposed by routine. what impact you see that having on prices and ultimately on inflation? >> in our view, the impacts will be moderate. we don't anticipate drastic impact. addition to the food price over the course of the next one and a half years will be somewhere between one and one and a half percent. is that a major impact. menu ofct on the options at the consumers in russia will have, i think it will be relatively moderate impact. these well-to-do russians will need to do away with consuming australian beef or even their sushi with norwegian salmon. the vast majority of the population will not the impacted trade we think that in a short. of time, russia will be able to find substitutes for many of the products. we'll see some impact on inflation. we will see some impact on the menu of choices. >> so far it seems to be russia response to sanctions brought to it by du and the united states. we now have talks at the ukraine might be

with us to share reporting and insights maeve reston, manu raju, peter hamby and maggie haberman of politico. u.s. war planes over the skies in iraq with a green light to target islamist terrorists, their orders issued about i a president to counts ending the iraq war as his proudest achievement and insists he's not about to start another. >> american troops will not be returning to fight in iraq because there is no american military solution to the larger crisis in iraq. >> why? this is a question a lot of people are asking, why did the president clearly reluctant do this? the white house says it's for humanitarian reasons, to protect americans. lot say if you're going to go in, do something more decisive than this. >> absolutely, there's a huge debate over that as we see that roll out over the next couple of months. lot are arguing he should have gone in sooner, should have done more than he's dealing with everybody on the left who doesn't want further engagement in iraq and it was so interesting in his statement this week that you just saw that hesitance and the fact that he did not want

i'm manus cranny.oftbank is selling almost $4 billion in bonds to help finance future investments after the company scrapped a merger of its sprint unit with t-mobile u.s. the warchest could be used to buy companies from yahoo! and dish network. a judge has thrown out a $256 billion lawsuit against bp by a whistleblower who claimed that the oil production plan form was unsafe. the judge said it was ultimately about paperwork wrinkles and not engineering shortcuts. ebay shares climbing after reports that they could spin off paypal as soon as next year. the world's biggest online marketplace has been telling potential candidates that they are considering spinning off the division. >> fed chair janet yellen will make her first speech at the jackson hole monetary symposium ladter today. theer george hosting meeting said policymakers have every reason to consider raising interest rate above zero. >> and looks like so far between communication from the committee that the market has responded in the fed has n

the man with the open is manus cranny. >> equity markets are taking a breather. that is what we saw yesterday on the one-month high. caroline has the story of the day. blackrock.and they are working. >> asset-backed securities are different. that may come as a shock. the bond buyers that we see. the european valuation is below the counterpart in united states of america. we are looking at confidence data a little later to drop and we are looking for unemployment in germany. i will join you for those numbers. we are looking at unemployment to fall and we're going to look at the data. let's look at vivendi. no real reaction from vivendi so far and the market. let's turn to the company's on the move this morning. you have telefonica and telecom witha doing a batter oil gdp. royal with gdp. the assets are lower and telecom italia is lower. it is a 20% stake. caroline will take you to the numbers. telefonica is up a third of 1% and they have trumped the gross levels. i leave the honor of taking you through the details of the deal. this is one of the bigger companies.

i will send it to manus cranny. the big take away?ike intercontinental. >> you do. >> intercontinental hotels, a lot of them are run by franchised. they are lovely and simple. it is a cash cow. paid back investors $10 billion in the past few years. is a little bit of -- from a shareholder. they are pushing. a strategic review of the business. i talked to the ceo and asked who do you want to or could you share a bedroom with? >> it is a story. we have a lot of strong competitors. we are one of the biggest in the world. we are getting a market share. it is organic growth. in the supply on top of what we have and we have a lot to do. of the ceo,adition he was not answer questions if he would have discussions or if he was in discussions. a pipeline is 1100 rooms. you can do you 1100 rather than owning the hotels out right. i think that's a critical point. are they going to be pushed into a merger? what is the strategy going forward? >> china. >> it is a huge issue for them. they have a business and basically they are going to open their f

manus cranny sits down with the man at the top. don't miss it.hat is next. >> welcome back to "on the move." i'm jonathan ferro in london. the japanese have been enjoying sushi for a long time. manus cranny spoke to the mastermind behind a sushi business that spans five continents. >> sushi, a traditional japanese food with an international appeal. in the west, few are as associated with it as this man, nmp obu. -- nobu. going from chef to entrepreneur, he opened his own brand of restaurant in new york 20 years ago. backed by hollywood a-list business partner. >> when was the moment you said robert deniro and you went i trust him. raupt and he my talked about working together with partnerships. the first time he offered to me, i said no thank you, i cannot do it. then after four years, he asked me again. of course he is a big star. now i can trust him because partnerships is about trust each others. he understands my philosophies. >> that gave birth to an international business. 32 restaurants in 28 different cities. but it hasn't all been easy.

manus cranny working our way through the ages bc numbers.to come, we will head to tel aviv. ♪ >> good morning. welcome back. we are live from bloomberg headquarters in london. it an earthquake in southwestern china has killed 357 people and injured 2000. it was a 6.5 earthquake. more than 12,000 homes were destroyed and communications in the region are cut off. of agal has taken control bank. the bank was once the entries largest lender. this will leave bondholders with losses. humanitarian window goes until 5:00 local time across gaza. from tel more on it aviv. cease-fire is a almost. it is a little bit different than the previous ones. walk us to the details. there have been few atempts to cease -- hold cease-fire. the last one was for three days but it was roque in a few hours after it was announced. this is another attempt. there haven't been any breaches. neither side has claimed a major breach. so far it is holding. this theis that during sides can diplomatically engage sustains intoger the violence. >> where are we with the violence?

i am mark barton, joined by manus kick -- joined by manus cranny.h russians are loaded with food and water are poised to enter ukraine. ryan chilcote is here. or are they? towe are certainly poised see a standoff when they get close to the border. ukraine says they believe that, in those trucks, instead of humanitarian aid, there may also be some weapons. the big concern from the ukrainians is that this is a trojan horse for the russians to expand their military presence or introduce a military presence in the east of the country. the interesting thing is that red cross,tional which was supposed to have been part of this russian arrangement with russia sending humanitarian aid to easter ukraine, they too are apparently getting cold feet. >> we said that we needed some theification regarding political steps that need to be implemented prior to a large-scale operation. >> the russians have been clear. they feel that the people in the city of luhansk, a city that has been surrounded for 11 days now, without electricity or proper water, running water in

i am manus cranny. , lots up, lights, camera and lots of action. what does it take to make a stunt performer? we take you behind the scenes. plus, putting the best faces forward. the new facial recognition software. turkey's prime minister has won the country's first direct presidential election. the former mayor of istanbul extends his leadership through 2019 as he seems to build a new turkey. our international correspondent, hans nichols, has been in istanbul. this is everything that erdogan wanted, isn't it? >> it is everything he wanted. the question is, how does he consolidate the power? how does he transform a veryonial office into a powerful and authoritative one? this morning, the leading business group has called on erdogan to stop polarizing the country. they say it is holding back economic growth. this is very controversial, what he is doing. he is taking a parliamentary democracy and turning it more into a presidential style system. it is a reward for economic growth. average over 5% over th

that is the moment that technology kills me. >> thanks, manus. that is the open. joining us now, jerry fowler. he is the global head of equity derivatives strategy at bnp paribas. what is the big theme for you right now? what is driving these equity markets? >> at the moment, we are still stuck in this environment which is part of the reason why both bonds and equities are rallying in many markets. as the output gap closes in the u.s. and we move, you may start to see some different risk factors like exposure to real growth in the u.s. really, it is about identifying where we are in the cycle. >> you say that we are in the mid cycle but there could be a couple years left of this business cycle. when you are in the mid cycle, you don't tend to see contraction. this big debate, when is the s&p going to fall by more than 10%, we could have to wait a little bit further. >> it would be very hard for the economy to turn down when consumers aren't spending rampantly, business aren't spending rampantly and governments aren't spending rampantly. ae only way to get signific

>> manus. thank you. no cheers for the world cup from retailer. there is not enough to improve the supermarket performers. the u.s. shoppers are proving lackluster. is there light at the end of the tunnel? ahold tries to paint an optimistic view of future trends. wyle be back with more on the food giant data. >> some french economic data. france p.m.i. comes in at 51.1. the estimate was 50.2. that is the beat on services. manufacturing though the bar was low. 47.8 was the estimate. 46.5 is where p.m.i. nufacturing comes in for france we're at $1.3262 on the euro come into this number. euro doesn't know what to do with this data. it is mixed at best. >> let's check in on the euro dollar. there is a little bit of a move head of that data. so slightly lower. in terms over the equity markets, let's check in. there was that hawkish tone to the federal reserve, but markets -- the s&p finished almost two points off its records. the dollar was trading at an 11-month high. markets don't seem to be terribly bothered. we'll get you retail sales later on. equ

barton, joined by manus cranny. ukraine, pro-russian separatists continue to battle government troops in donetsk. at the same time, a convoy of almost 300 russian trucks carrying humanitarian aid travel from moscow towards ukraine. here with the details, where it is -- >> should we call it convoy-gate? the convoy, according to russian the importanton, thing to know about the city where it is, it is quite a ways from the ukrainian border. it's a good couple hundred miles. the geopolitical meltdown we may or may not have is at least several hours away. it would appear it will not happen at all because the ukrainians have said that they trucks fromhose 280 the russian emergency ministry into the ukraine. there are two caveats. one is they get to inspect it first. we have yet to hear with the russians have to say to that. the ukrainians have said they think there might be weapons in there in addition to the humanitarian aid. the russians have said it is laughable. in addition, they say when the aid gets to the city, if

linked to one was of the comments manus made, the comment toe went off deliver this.y have to be amended for these additional comments. it seems very much as though mr. pressures trying to some others at the ecb to allow to pave the way for qe. >> how does it impact your view on equities? you have moved to neutral. would this be a game changer if they did capitulate on qe? >> i think we are a long way from the ecb being able to capitulate. in terms of changing our todamental view, we need have confidence it will spark earnings growth and will help reverse this inflationary tendencies and willie -- this inflationary tendencies -- dis inflationary tendencies. >> german sentiment expected to trend lower this morning. are you expecting it to play out simply that these readings go lower and lower? get thenk we will latest survey. we have seen some weakness perhaps related to ukraine but also in respect to the economic outlook. your comment about bond yields going lower and lower. based on make a case fundamentals. the economic outlook has forecasters are expecting .3% infl

volatility is back. >> thanks, manus. these are the top headlines.ease-fire started in gaza this morning. talks on ending the violence are 10 to delay set for cairo later. set in cairoively later. china's manufacturing expanded at the fastest pace and more than two years. the pmi came in at more than 51%. the official level also came in at the same level. is south africa ready for a further rates raise? bloomberg africa has been speaking to the -- >> industry -- interest rates will go up. perspective ona the challenges that the economy is facing. authorities have done a really good job of managing monetary policy. for consumers, there are a lot of things to think about into the future. >> that interview will be this weekend on bloomberg. don't miss it. unlike batmann -- or superman, chances are you will not be for money with the movie's hero -- familiar with the movie's cairo. -- hero. >> i am star lord. >> who whio? >> star lord. forget it. >> talk about the guardians of the galaxy. stille, good morning to you. ella, good morning to you. why not fiv

on both offor more these stores is jonathan and manus cranny.e were hoping for significant movement in the private sector. to have a hybrid of both. the big question being asked, what happens next if we need another one? where does the money come from? >> the group is very complex. not see a lot of groups. it may be even harder to figure out what is going on. across, thereread is no reason to suspect at the moment there would be. , if you of the response go back to march 2013, cyprus talked about a levy on deposits. this time around, they are very clear. it is on the front page of the website and it is not part of it. they have not paid the rest of the bailout money. think the speed of response and the structure and the message they are sending is a positive one. credit agricole, do they get wiped out? a $3.6 billion loss. pricestake and the share are more than 10%. worst case, a $100 million loan. you put in the context of payouts and regulatory counsel. >> is europe in a better state? your the quality reviews made it a point not a big reader a

that can go out and kind of make these wild claims, stoke fears about border safety and security. >> manu, we said that congress is on recess and that's certainly true, but there's still a big fight going on between senator feinstein and the cia, building on trying to get the actual facts out of this long-running torture report, which is what led to all that fighting about the cia spying on the senate. the president speak to some of this on friday, something that didn't get as much attention because there's so many other things, port things going on. i thought it was a low point of the obama presidency. take a listen. >> in the immediate aftermath of 9/11, we did some things that were wrong. we did a whole lot of things that were right. but we tortured some folks. we did some things that were contrary to our values. it's important for us not to feel too sanctimonious in retrospect about the tough job those folks had. >> it's a statement that totally lacks respect for the rule of law to say that we shouldn't judge in retrospect crimes if they were crimes, which the president is saying dire

i am manus cranny. time for company moves -- news. asian airlines will be delisted.l be the in restructuring the troubled carrier. malaysian airlines suffered two major disasters. some of finland's exporters are in survival mode after russia import ban. they halted production lines. and the second largest mining company is on its way to becoming a cash machine. rio reported a 21% drop in earnings and raised dividends. an 18 month cost-cutting drive is starting to bear fruit. >> this doesn't able for you to for you toes enable make material increases in shareholder turn. -- return. it is good news for investors. markets --al stock you should continue to invest in equities. according to our next guest. days, thee last 11 world index is down 4%. time to get worried? >> i am always worried. i look after people's money. it is sensible to be concerned. is it unexpected? no. it presents more opportunity than threat. that opportunity will grow. >> when you say it is unexpected -- sorry. three years of disaster being predicted. we have -- >> are you surprised the market did n

plus, manus cranny will be talking about rory mcelroy.wn with a brand management export to see how the business is struggling. in the meantime, you can follow me on twitter. higher monday morning if you are looking at equity markets. the dax pushing higher. we will be back in two minutes. stay tuned. ♪ >> a new turkey. erdogan tightens his grip on the nation after winning its first presidential elections. we are live in istanbul. iraq pushes back. the prime minister deploys troops on the streets of baghdad as he imposes a more inclusive government. plus, rejected again. balfour spurns carillion's attempts to revive merger talks. very warm welcome to "the pulse" live from london.

i manus cranny. i know you are sitting there waiting before you wait to get out on the tube. of the day. theme. to get our own >> he's been working on this. >> this is "the wall street journal." north sea oil. in terms of the overall momentum, weighing heavy on the scottish referendum. pro-independent party saying london has been tapping our deserves for many years. just london. and this is part of the great ebate. >> many estimates out there. rules,russels possible could we see high-energy use hairdryers and tea kettles banned? i'm raising an early flag because it could take me longer to blowdry my hair. >> depression. wednesdayfriendly on against norway. they are in a post-world cup depression. i'm so depressed even thinking about it. >> improving the memory with this magnificent brain zapper. >> we will get one for the next hour. "countdown" returns. stay with us. ♪ >> i don't think it's an easy thing. >> a bloomberg exclusive with the german finance minister there. >> picking to us, -- speaking to us about the french cabinet reshuffle. he said it was a good decision. >> i

i am manus cranny. with us is caroline hyde.hing telecom italia, vivendi and telefonica. >> i am going to look at a bit of m&a across the board. , this isilian angle the old guard of italy and spain, the big telecom giants wanting in on the emerging markets. to spend some 7 billion euros, telecom italia. we could see telecom italia fall about 1% this morning. also, keep an eye on united internet. this is a german company. it has just taken a hefty stake, about 10.7% in rocket internet. this is a bet on the emerging markets story. remember what rocket internet do, they take tried and tested business models, the likes of uber, and they copy them in emerging markets. frontiers that haven't yet been taken on by startups. they take the risk in taking it to a new country, trying to double with a new base of user who isn't quite as savvy on the internet side of things. it is fascinating, what rocket is doing. it is all ahead of an initial share sale. rocket internet is lining up to sell shares later this year. they want to be valued at

points that will hit the markets. ♪ >> welcome back, i'm manus cranny.quick check on some of the markets at 7:20 four. russian markets are up and running. trading just a new buyer. nib higher. .he central bank moves >> from 7-9 rubles. the russian central bank has to transfer 75% of the profit to the budget, the federal budget. that is up from 50%. that, another indication it is another contribution towards defending. >> if you want more evidence of the dissipation intention, geopolitical risk, that came is now the eighth game running which is along the stretch for year. that is quite a run for the my icex. >> we could have disinflation in the u.k.. 1.8% is a number we are looking for, done -- down from 1.9%. a little bit later. 14 year high. >> where barely 75 points away from the all-time close. yearst hits, the next two -- will it presage the same decline? coming up, the ecb will focus on that. it is taking over banking supervision. -- we speak to former boe deputy. paul tucker. ♪ >> welcome back. time now for foreign exchange check. justollar sterlin

manus cranny. here are your bloomberg top headlines.d higher after consumer inflation came in below the government boss goal for july. the communiststs party leaders have leeway to roll out more stimulus measures to support the economy. the ukrainian government is rejecting a cease-fire off -- offer from the pro-russian rebels. -- travelingmakers from ukraine to europe. a revised merger proposal. the merger would undermine the sale process of its new york-based units. rillion approached the company to revive talks that collapsed in late july. those are your headlines, let's get a touch on the markets. >> we have the balance. equities up across the board. dax, up by 1.33%. the index was down from his 2014 hi. german tenure is a little lower today. still near record lows. there was a period of severe market stress. the difference between now and then, italy. record lows. italy. not painting a pretty picture of the euro zone economy. let me bring you three things today. we talked about balfour beating carillion. two big banks. they maintai

. >> manus cranny. do not miss boris johnson's speech later this hour and our in-depth interview. let's look at another political risk facing the u.k. gotland will vote on -- scotland will vote on leaving the u.k.. they debated and glasgow. they clashed over whether independent scotland would get to keep the pound. >> it's like getting a divorce and keeping the same joint rank account. you have to get agreement. what is plan b? asit is our pound as well england's pound. it is logical and desirable to have a currency union. atland is scotland's biggest -- export market and scotland is england second-biggest export market. we will keep the pound because it is logical and desirable. >> the transaction costs are imposed because of the costs of independence. poundyou again, the belongs to the u.k. alan crawford.in a lot of swing voters, a lot of people undecided. to what extent did last night's debate move the dial for them? >> that is the million dollar question. last night, the biggest surprise unassumingrling, the former chancellor of the exchequer really stepped up his game. he has

three stocks to watch, manus cranny at the touchscreen. dips butlived, those there are three companies which are not short-lived at the moment. having problems in terms of exposure to russia. byt stock has been knocked the analyst community this morning. you see jpmorgan downgrading the stock to neutral from overweight. deutsche bank goes to a cell versus a hold. eme, when it comes to industrial chemicals, this company saying they have to shift their guidance to the marketplace in terms of margin, in terms of sales and in terms of making an uplift of their earnings by 16%. it is going to be pushed out to 2016. and since i have been twice ties -- chastised on twitter, i thought we would have a little touch of russia. nk.is sberba what you have got is a 12-week low for the ends -- for the russian institution. moved, unable to raise capital beyond 90 days here in europe. you are beginning to see some actual, physical three-month low on that bank. back to you, john. >> thank you very much. a 72 hour cease-fire is in effect between israel and p

jonathan ferro and manus cranny are with me. bes, it looks so simple. >> i don't think it is that simple. you have a bailout. you have some money left over from the bailout support to recapitalize the banker in that goes to read capitalize the bank. are going toeople bear the brunt like the shareholders. a lot of analysts are saying. my take away is within two share price has dropped 70%. you have seen a bailout. this has played out in almost no time at all. this is just before those stress tests later this year. >> despite the fact that there is a clear sovereign link, this money is coming from the lens of -- resolution fund. how is the fund being funded? by the government. offhis bank will get spun and people will get shares again. >> it will get sold off. >> let's just hope there is not another one. i am being my usual miserable self. there is a bank in transition. profits are down 12% as you said. bank that has been asia focused. his revenue is down. his revenue is dying in latin america. the reason that why i focus there is

manus cranny is at the touch screen with more. where are we going? >> very open. -- very good. they are expected to open lower. obama supporting al badi in terms of iraq. we're down by an aide at this stage. -- by eight at this stage. divest theirng to international business. equity markets are coming in a little lower. we are waiting for the reading, looking for that to decline probably for the eighth month in a row. down.see what is trading it is financials that are lower in italy. equity markets just coming off the boil. we have had a correction. 50 did not self correct. 105% rise. a world cup was quite nice. net revenue also rising. there was a little bit in line that they had run a contract with the royal navy. we're waiting for them to open. the reality, they miss. the market was looking for a number higher than that. they confirm their 2014 targets. are three stocks. we will have a look at conversations this morning. at two-year yields were negative. that has come through is negative yields will continue to push the search. in many ways this is a mispricing. europe is ov

manus cranny. do almost managed to in a day what we achieved in a week.t political conversation cap have on in the markets. at it. london, paris, spain -- all the stoxx 600of being all. we have the federal reserve minutes and the jackson hole meeting on friday. a dove assessed on friday. -- fest on friday. london house prices, could today be on the turn? they dropped the most in almost 60 years. the number of sellers dropped by 20%. european equities market, it is showing stronger. theave a poll out that said banks want to take up on the matter from the target landing from the ecb is dropping. it was originally to buy 110 billion euros and is dropping. there is a lack of demand. is that why the banks and do not actually wanted the cash? germany bond yields. just common a little lower. let's check that. -- you're just coming a little lower. a look at currencies. as i said, jackson hole is coming on friday. janet yellen. .ll of the central bankers this what the dollar is doing. it is drifting lower. a fairly tough week last week. the first full drop in almo

manus cranny with three of them. >> we'll talk about the ripple effect from tesco.y had to reduce their dividend. caroline is taking you through the step by step nshtive they are taking. 98% of the normal day's volume has changed hands. you're looking at nearly 100% of a normal day's volume for the past 30 days. less volume has gone through. about 43%. that was the tidings of doom and gloom. let me bring you some releave in the market. it comes in the shape of luxury. erragamo has had good numbers. europe absolutely banging beat. 8.7% rise in terms of sales. north america storming the way along with latin america. fiat not having to spend as much money as originally anticipated. astrazeneca looks like they may be on the cusp of new trials for a colon cancer drug. it would be a multiblockbuster opportunity is what some of the analysts are talking about. more than $1 billion. astrazeneca potentially in play. >> thanks. here are three top headlines from bloomberg. david cameron is making another plea for scottish voters to remain a part of the u.k.. he said there are h

manus is going through some of the amazing statistics. tech stocks are at a 14 year high.ote shakespeare? >> it's deemed incredibly impressive. >> i am terrible at doing that. i never had the skill to do it. it is the winter of our discontent. >> you downplayed your ability. that was very good. of oure it is the summer discontent. we will talk with adam parker about that. his caution was right. he got a mini correction and he is now. we will talk about where to put money. there is a risk on trade two days in a row. we will turn to jackson hole. michelle meyer will join us from bank of america. she has been prescient about the housing economy. we will talk to her about the limitations and options the janet yellen has as the chair travels to wyoming. a lot is going on. we will go to ferguson, missouri after another very difficult evening and night of unrest in that st. louis suburb. >> here is a quote i did not know was shakespeare. neither a borrower know a lender be. let's talk about banking. let's go back to austria where jonathan ferro is standing by in salzburg. he has

manus cranny spoke to the mastermind behind the sushi business.ala japanese food with international appeal. with itassociated more than this man, nabu. with americanish flavors. going from chef to entrepreneur, he opened his own brand of restaurant in new york 20 years ago. backed by a hollywood a-list business partner. saiden was the moment you -- you looked at robert deniro and said i trust him? >> he came to my restaurant and he asked me to open in new york with a harder ship your the first time he offered to me, i said no thank you. then, after four years, he asked again. i can trust him. he understands my philosophies. >> that philosophy gave birth to an international business. 32 restaurants in 28 different cities. it has not all been easy. >> sometimes i open my restaurant in alaska, a fire came out and burned down. a lot of people supported me. not give up. also, always i tried my best. >> not only did he go on to become a celebrity sushi master, but also a las vegas hotel owner. -- why do we not do like a hotel? the idea came from him. in

maybe it will come later in the manu script. in the pages i read, bush relies an hisson feelings about the ussr and gorbachev and china in pursuing his international policies. this vision of bush might be true. i don't know. but i would think that other critical agents in the executive branches would be channeling information to the white house and i wondier this info does not reach bush or if bush simply dismisses it or what. i don't really know. i would think it would fit you more prominently in the white house. jeff is dedicated to arguing that leadership matters and different leaders do things for their own reasons. but i have little sense in these pages i read of president bush as head of the executive branch of the government who sits atop a mountain of information formulated by broad range of experts representing different bureaucracies and administrative and political views and agend paps presidential decision making under bush seems extraordinarily titlely circumscribed and based on little empirical information. in cont

manus cranny at the touch screen with three stocks to watch. he has me very excited.outsourcing and engineering. they reorganize their debt. and theyhaving a -- are selling and driving the price. we like it. a bit of a percentage. wvp doing quite well. the mines. that is a brilliant personification of what it is at that wvp do. they tell you what to do with your information and then a make fit percent of their money from emerging markets. .evenue beat what you have is the u.k. rav aged, that is the word used, oh "ravaged" the -- numbers. the office space you want on it. around the world again. bane.ng is the sterling will be the hallmark. usa 42 percent of their business,'s from the states. back to you. >> i will talk to the man. three headlines for you. a televised debate between alex salmond and alistair darling has declared salmond the winner. 71% believed salmond made a stronger point for independence. vote is an opportunity to themselves as independents. and in the process which has been agreed and consented. an opportunity which may not come our way again. >> th

thank you very much manus cranny, that is your market open. allen higgins, chief investment officer, good morning. >> how are you doing? >> i'm pretty well, i see the record high. what happened to the summer correction? >> there isn't much of one. for us, that is absolutely key. i've mentioned it before previously. allocation, bonds or equities, we see that in japan. we look at the corporate structure, something i have never seen before in my career. if you look at hundreds of companies, the corporate on yield is lower than the dividend yield. we are seeing elements of that. it means that companies are incentivized to be shareholder friendly. to save hard cash. issuing a corporate bond, getting tax relief, buying back equity, you are saving hard cash. an unusual environment. crucial to the market. of yourng at some calls, reduced exposure to proliferate debt. what is a high now? debt are in proliferate for a while. we sold it a bit too soon. we still have a little bit of island in there. too soon afits a bit couple of months ago in italy and s

did manus cranny get excited? he is a little bit skeptical. united utilities is down 1.65%. utilities, bank of america, they spent a lot of money on rebranding. rbc set to perform. because the market is not discounting adequately enough that the regulator may not allow 900 million pounds worth of capital expenditure. stock off 1.65%. telecom italia, are they in discussions? the smallest brazilian wireless carrier, we understand that they are in talks to acquire telecom italia was stake in tim. telecom italia holds about 67% of that. what is going on with telefonica and vivendi? storing up the pockets for potentially a bit. lufthansa, they are talking to the pilots. the pilots have threatened to go on strike on august 28. the big issues, bridge payments. bridging payment until they are able to take up their pension. bottom line is, discussions are underway and that is bucking the market trend today. lufthansa and telecom italia. back to you. >> thank you very much. three top headlines from bloomberg this morning. global equities have reached a record value of $66 trillion. sh

and that isan open with manus cranny. >> the equity markets are showing a little bit of trouble and thereas the green screen. down and thesa's financials on the downside. again, europe is under pressure and this is a point of argument for the rest of europeans. we have more bad news and they are rising. a compound on industrial you take that within germany and that begins to change the argument. the big driver and the move to quantitative easing. pimco and hewith said it was 50-50 and we will wait and see about the rhetoric today from mario draghi with russia and how much they have impacted the story of growth. reports that the impact of sanctions from russia and european sanctions into russia offvice versa could knock .4%. that yount improvement are seeing in european stories andd be wiped out quickly caroline will break that down a little later. you have a rise and that is good news. i have not seen anything from russian exposure. is goinga company that $5.1 billion with earnings. china will grow, in their view. that is good news for everybody capital istrol of the holy grail and is wha

manus cranny. >> we're going to break all tradition.e going to blow all tradition out of the water. cheapt comes the fashion, these guys are delivering. up 17%. their opening new stores. what we have seen is this stocks is one of the stoxx 600 retail, up five percent in the past three-month. retail is down 5%. billiton, will they or won't they go for the big merger plan? sticking to core areas. copper, coal and petroleum. this is what we will find out next week as they spin off the likes of nickel and aluminum. i wanted to tell you about telecom italia. it's down. money are they going to have to pay to get their hands on vivendi? >> firdariday. you cut a stock from three to two. the bank of japan may cut its fiscal forecast for a fourth time. the expansion for the year 2015 1% forecast. board members expect that force -- exports have failed to boost japan's economy. dreadful data out of japan. iraq's prime minister maliki has agreed to leave office. facesw administration islamist militants advancing in the country's north. and russia ha

. >> let's talk about making a future because you have also worked on the side manu wrote -- hello, tomorrowis new to the united states. jim beam as a global brand and is a huge history of going around the world. it is an airline that came to the united states a few years ago. what we want to do is to create a movement that people can align with. if that is bigger than the airline itself. we came up with is the idea of connecting people from around the world. if you connect people from around the world, you ball over come this understanding, the misconceptions. that is the movement. get people inside the company where you have thousands and thousands of people getting behind this idea of hello, tomorrow which is the idealistic future. it is idea that the world is better. the movement is the idea they can change the world in some way. it doesn't have to be nobler than now. it can be something making it a goal to engage -- people to engage. emirates wants people to make the world a smaller place. >> thank you for spending time at me. the author of the book uprising and the brand of culture mov

. >> a goalkeeper, manu or arsenal. >> i think arsenal. >> i think that was wilson's mum in "friend's". >> what is quadruple switching? >> you run down the slide and scream out quadruple. >> ride down the slide and scream out quadruple swiping. who is carl icahn? >> he's the guy that invented na co chips. >> reporter:. >> he's a guy that invented the circus. >> reporter: a headed on fouleders formation? >> i think an african dance show. >> reporter: what's your fate show? >> "fast money." >> that's my favorite show. thanks, young man. >> how emphatically icahn invented chips. we know we are more savvy than the average person on the street. this is video from daniel in ft. worth, texas. >> last week karen feiferman, at what strike does she recommend a buy put? >> that's that dude on the side? >> that's his father, his father. okay, so the question again is at what price does karen recommend buying puts. karen was so excited. she sent us her answer via e-mail. she says i generally go one to two months, two to 3% of the money. i might buy a 195 or 196 put. i'm not looking to protect the

. >> the biggest threat for cassidy is conservative tea party backed republican ron manus who has beenorsed by sarah palin. he complains the establishment is out to get him. >> if i'm so insignificant, why are they fighting so heart to get me to kit. >> he didn't submit the 5,000 signatures appear on the ballot. he has gained ground on cassidy, while landrieu's gain has shrunk. >> it was a mistake, an accounting mistake. it should have never been made and i have lawyers who are looking at every document and will make it fully public in september. >> the whole airplane issue is just a symptom, if you will, of a washington, d.c. that lives high on the hog while taxpayers struggle. >> there are 75 days between now and the end of the 2014 midterm elections, unless, of course, louisiana sends the nation into overtime. chris. >> carl cameron reporting from new orleans. enjoy dinner in the big easy tonight. >> republicans also sense vulnerability in alaska. three of them lined up yesterday for a shot at democratic senator mark begich. dan springer tells us what happened from anchorage. >> for

. >> i know this manu well enough to know that wild horses would drag him from this. that's why he said if you don't want me in this position, don't call me, call nixon. it's now nixon's call and if nixon thinks he can't do it, then tell the people that he's not qualified. and if he is qualified stand behind him. because as bob mccullough said, it's hurting the entire process. we want transparency, we want justice, not just for michael brown but for the police officers, there are many, many voices that are not being heard. we actually want to really know the truth. and bob mccullough has the backing of the majority of this community to find out what actually happened. >> in my view, and i'm an outsider. you've got the media and you have outside sirs and you have bureaucrats and outsiders basically walking all over the community. it's not about the concerns of the community anymore. it's about reputations, it's about making careers. >> not only that, but you're seeing the next mayor's race play out in the county. antonio french wants to be mayor so he goes to down to t

their collective strategies for eradicating the virus in a joint communique following a meeting of the manu river union. we commend all three countries for taking the outbreak concrete and taking stepsteps to address it. a case ins news of maked need fora a national plan and national response more important than ever. today with those who told mow that the health ministers of the throw affected states will meet again at the end of this week on august 11 through 14. thethat following that health ministers of all of the states will meet on august 28. the intensified attention of the health ministers of the entire a good sign and dem monostruts that the whole region with this crisis. assistant secretary greenfield presidents ofthe and sierraeria leone. department the hosted a moderated a meeting on webb on the sidelines of the summit toa leader discuss the next steps for controlling and ending the virus. directsecretary, c.d.c. toreor and n.i.h. directors, assistant administrator for health and the lie minister and professor, nigeriandent of the academy of science participated in the meet. d.o

but 1864 would be different because of the entrance on the scene of one manu hiss grant.d from the army in 1863 because of excessive drinking grant spent eight years in one failed venture after another. in 1861 his father secured him a colonel's commission and according to legend the father didn't fare well with these words, son you've got a good job now, don't mess it up. yet certainly this commission was certainly not based on good looks. to one observer grant was, quote, an ordinary scrubby looking man with a slightly seedy look. neither a conversationallist nor a mixer, he was a man who always seemed to be alone. nevertheless, while other union commanders were failing, grant had climbed steadily up the military ladder with resounding victories, stretching from fort henry in 1862, through vicksburg to missionary ridge in 1863. he was clearly the north's man of the hour. when lincoln ordered an east early in 1864 to take command of all federal forces. the somewhere near 500,000 combat ready soldiers grant would have authority over the largest post any american officer h

with us is manus cranny and caroline hyde.o be suspicious of the global record high that was set. worth $66ities are trillion. in 2007 $63 trillion. russia is talking to the ukraine. we will find out how tragic europe looks a little bit later. paris wheret to they have a whole new regime change. the new government comes after criticism from the former economy minister. the big change is the economy minister. the former banker and former advisor -- what is he going to change? >> and airbus has avoided being hit by sanctions.