manus: i am manus cranny.y warned us, saying the problems would be tough, dropping around 50% less. let us bring you the first news. first have sales coming in at 3.7 2 billion, that is down 11.4%, a little bit less than will the market was perhaps expecting. 353he operating profit, million swiss francs, that is down 53.6% annually. they expect the results close or equivalent to last year's, with that kind of pressure, this was last week, the stop dropping 14% on the day. the drop in profit they expected it to be twice what the analysts had expected. it is all about switzerland. anna: let's stick with the corporate thing. first-half sales rising by 5%, and roche confirming the forecast of interest, analysts say first half sales will be 20.5 billion swiss francs, a touch above the estimate of 24.8 billion swiss franc. and at 7.7 swiss franc's versus the estimate of 7.64. a look ahead of estimates. looking in particular for bladder cancer drug that recently got u.s. approval.that has the ability to shift expecta

manus: thank you very much.trategists forecasting that the yen will post its first annual gain in five years. they are standing their ground. the japanese currency is the best performing currency this year among developed markets. the strength has put policymakers in an uncomfortable position as policy tools fail to deliver results. investors regulate the boj will implement so-called helicopter money, rejected by governor kuroda in june. >> fiscal policy is decided by the government and the parliament, while monetary policy has decided by the central bank. i don't think at this stage we should abandon this institution. no possibility for helicopter money. manus: for more, let's bring in kamal sharma, bank of america merrill lynch director of g 10 fx. that recording was done before brexit. what i've got for you here is the analyst view, the consensus view for dollar-yen at 105. they are moving lower. the view today would be that actually dollar-yen's longer trajectory is driven more by what the fed does rather th

manus: great work, ryan.cote on the special relationship between the united kingdom and united states. rob wood's chief u.k. economist at bank of america merrill lynch. embarking on this road of putting the great act in great britain beyond the european union, that is boris johnson's job. is he the man for the job? rob: i don't think that is for me to say or not. with the u.k. now embarking on leaving the eu, which to my mind probably means worse trading now, setting has of better terms with other countries is vitally important. the real difficulty that the u.k. will find is if -- informal talks are one thing, but trade deals come down to the detail, the nitty-gritty. at the moment, the u.k. doesn't have its own tariff or menu of external tariffs that it applies. they are part of the eu. manus: surely that is where people would say, use the wto menu. talk to me about theresa may. very interesting, these nuances in terms of how we think the negotiation of start and go in terms of theresa may's ambition to have

manus: turmoil in turkey. resident or to one consolidates -- president erdogan consolidates power. -- keeps investors on edge or and bonds slide as goldman sachs lowers its outlook for the lira. the soft pound gives softbank the upper hand. the japanese company makes a -- 24 billionlion pound bid for uk's arm holding. ♪ manus: you are welcome to "the pulse." good morning, i am manus cranny could we have a lot to digest, not least a coup that went and came. it was quashed. it happened in turkey late on friday. we got the lira, stocks and the deal of the day which is arm on your board. .tocks in turkey, down 3.5% you are seeing this index down the most in almost three weeks. you are seeing this real risk aversion. recovered froma one of the most demolished emerging-market currency trades. the dollar lira at 2.94. what you are seeing is a shift. where will we go next? it go tolmost see around 2.90. goldman sachs says they reckon it will weaken. you are seeing this big turnaround. the demolition that to go way tha

manus, will be speaking to hans 9:45erg on the pulse at a.m. manus.us: theresa may will share her first meeting of her first cabinet today. the director -- the directive is simple, don't deny this -- don't allow this administration to be defined by brexit. she said "it will be the responsibility of everyone sitting around the cabinet table to make brexit work for britain." those are the words did let's see what the actions actually mean -- those are the words. let's see what the actions actually mean. the ftse bull run is heading for a reality check. yearenchmark will end the down. it is the most bearish i have seen. i have jonathan bell. he joins me now. that is a heck of a call. the headline is hsbc barricades on u.k. stocks, carney cannot stop the hangover. they say we are going to drop 7% . would you agree with that? jonathan: when you're talking but u.k. stocks, you're talking about ftse, the international stocks. ,he international economy rather than what carney is doing in the u.k.. -- in the u.k. look it the midsize companies, then you have mo

anna, manus? all about the details. the devil will be in the details. yen has a volatile morning. weakening again, all on the back of the report you just said, the japanese prime minister shinzo abe will indeed deliver 28 trillion worth of stimulus. this is we understand from the news agency. ianz says the federal reserve policymakers must be keeping rates so low. anna: and many to be aware of the possibility of unintended consequences he says, he spoke to bloomberg television ahead of the fmoc rate decision, due this evening. >> the less effective central-bank stimulus is. it is ironic, but this is a recognition that it is not spreading within the fed and beyond, that the u.s. is having as much structural problems as it is cyclical problems. which means of the answer to high growth financial stability is not in the hands of the fed, but in the hands of the other policymakers. and if they continue with interest rate being too low, and risks causing collateral damage and unintended consequences. ma

manus: thank you.intendo's market value has pushed up over sony after pokemon go fueled a rally lasting more than a week. anna: nintendo's value has jumped over $39 billion, extending a run that has seen its share price more than double. on friday, the company set a record for the most shares ever traded in japan. the french chief economist has put his phone down. he was out monster hunting. but he is now here on set. this is something that seems to be taking over the web. >> somebody walking around the station in london, looking only at their phone with no comprehension of what is going on. it is a phenomenon. lastumber of tweets week on pokemon go has exceeded the number of tweets on brexit. it is a phenomenon. manus: how do you tie this back to markets? kind of boring, i know. leave the boring parts to me. the biggest daily turnover in stock ever on the tokyo stock worthge, 476 billion yen of shares was traded. this gives you the sense of the phenomenon. i know this is a jump now, come with me. i am

manus? anna anna: now, let's check on the left market action with haidi lun. haidi: we are seeing something of a correction, given that we have had -- this is the first decline we have seen regionally in a week. we can see little bit of a return in terms of risk appetite. the yen is up about 0.5% at this point. the at the nikkei 225, currency story is playing out in a big way. mitsubishi, the top decline there, down by over 4%. sharp, down by close to 6%. elsewhere around the region we can see weakness coming through from korea as well, down by .3%. we saw a three-week high in yesterday's session, the hang seng up by .9%. it was suggested that in the second half, the pboc would be fine-tuning monetary policy. perhaps, in the way of short-term cash injections. we might not get that wholesale easing, or potentially a rate cut. that does seem to have disappointed investors when it comes to the chinese markets in thi part of ths part of the wor. on the mainland markets, we can see china up by .4

anna and manus? manus: thank you very much.ederal reserve is losing confidence to tighten rates anytime soon. the minutes from the fmoc meeting last month held a week before the britain referendum showed that officials taking rising uncertainty about the outlook for growth at home and abroad. mike mckee has more. mike: if you're looking for guidance for future fed moves, you will not find it in these minutes. instead, you are seeing a committee groping to figure out what the prospects were for the u.s. economy. keep in mind the timing. this was after the dismal jobs report in may, but had the brexit vote. brexit get surprisingly little mentioned in the minutes, but it could be a risk and a flinch to development. but no details on what the risk might be or what the policy response might be appropriate. however, most of the discussion was devoted to figuring out what the may jobs report met. remember 38,000 jobs were created. many participants the minutes note fell the number was likely distorted by the verizon strike and statist

manus: and i'm manus cranny. the pound is in pain. this is what you are looking at, a 31 yearback at low. this just gives you some of the post-traumatic stress in the market. there is no end in sight for the pound, on the downside. go to bloomberg first word and find out, where are the levels? mind the gap. 1.30, we have broken through. a 1985 low. i am not making that call, that is the statistician's call. median for the end of the year is 1.30, that is from the bloomberg survey. anna: clearly, mark carney, and others in the market, have become about concerned about commercial real estate in the u.k. let's start off with the risk radar. remember, a number of markets in asia are closed because of ramadan. the asian-pacific is down by 1.7%. yield,year japanese bond 0.01. that went negative for the first time ever in today's trading. 1368, that is where we are on the price of gold there, up by .9%. high and weo year are near a six-year high in open interests on the gold exchange. chinese data, this seems, is getting interested in silver

nejra: good day, manus. turkey has imposed a state of emergency as the government pursues those responsible for a film to recoup. -- for a failed military coup. since the attempted coup collapsed on saturday, thousands of army officers, judges, and prosecutors have been detained. uk prime minister theresa may travels to paris today to meet france le monde. -- francoise lalonde. -- hollande/. theresa may says that won't happen until next year. >> i want to work with chancellor merkel and my colleagues in a constructive spirit to make a sensible and orderly departure. all of us need time to prepare for these negotiations and the united kingdom will not invoke article 50 until our objectives are clear. this will not happen before the end of this year. nejra: hsbc's global head of foreign exchange in london, mark johnson, has been released on bail after being arrested. u.s. authorities allege johnson was involved in a friend running scheme involving a $3.5 million currency transaction in 2011. his lawyers said t

manus: this is the u.s., lucky seven. -- if you canll seven, it is the lucky the bond market in the united states of america. and goes back you to your base case, there is more mallets left -- more mileage left. how much more compression can we get? iain: in the longtime treasury yields addicting 1%. if you look the rest of the world we have germany, japan and negative space. , the u.s.k. trading is a safe haven. it is where everyone wants to buy. all demand we are seeing in the u.s. manus: when do you think we can hit the sub 1% level? iain: the beginning of next year. manus: the other discussion this week -- excuse me, has been around japan. their election this week. aroundcussion has been 20 or 30 year yields careening downwards. is there no end to this mood across the curves? iain: this is the world we live in. no growth, how do we stimulate? manus: talking about 100 billion pounds worth of every structure spending in the united kingdom. what would that do to the bond market? iain: a really big fiscal sp

manus: good morning. manus in london.llish story on the world, and on your business, which very naturally brings me to -- when will we see the next divestment, freeing you up even more to make more of your own independent decisions? when can we expect the next move? well, i think you have to ask them. under the german stock trade rules, we are not allowed to talk to our parents anymore. it's up to them to make the decision as to when they fell. if you take a hint from some of the news flow, they have obviously given to their analysts, the pharmaceutical investor in me also read the analyst reports. most of them show business day consolidated from the end of last year. that the analyst's view taken from outside the company, but i have no insight whatsoever. patrick, we are trying to divine what brexit means for individual businesses in terms of reality of orders, what their customers are saying. what is your perspective on brexit, nearly a month on from a for your business? is the biggest threat more to europe than domesti

manus: i am manus cranny. anna: we had credit suisse numbers earlier.mp reporting second-quarter q+k ñ÷numbers, second-quarter nt profit at 2.56 billion, ahead of the 2.1 billion estimates. they had again from selling a stake in visa europe. we know now they won't put that in the books, 597 million pretax gains from that sale. a business trying to get back to return on equity of 10% this year, taking additional steps to cut cost, bolster capital. a simple turnaround story, than others you can mention in the banking sector. what many analysts have been saying, because this diversity and breath of activity they take in the stock. around 16% year-to-date compared to 27%, that is the one year share price you're looking at there. to bloomberg.ke >> you see like you saw the first quarter, you can never be protected from uncertainties. uncertainties that can stem from any angle. it can be regulatory, geopolitical, many things. what you see is that again, one can rebound on these activities. , and particularly that is a mp was so diversified between retail and

the cover story manus. manus: donald trump locked in.land, where his son gave the nomination, what took them over the top. i think that is the phrase that was used. . he is the 2016 u.s. republican he has enough votes to be there. with son donald, jr. and paul ryan, the other thing that caught my attention, they had a mock trial of hillary clinton. crowdthey whipped the going guilty, guilty over a matter of issues. anna: and also in this edition of daybreak, the continuing focus on turkey. turkish president erdogan, we resigning,iversities big questions over moody's. and we talked about yesterday, barack obama urging his counterpart to respect civil liberties. and we see the lira in the market. manus: i love the story, that sab miller, potentially the shareholders saying go back. sterling is back. 11%. go back to anheuser-busch. we want a better deal. that is really fascinating, for me, in terms of the pressure of institutional shareholders, and in terms of what brexit really, really means. anna: this is of course related to the fall of

anna and manus? manus: thank you very much.efs are on a two-day visit to china, a huge summit where the focus will be on the economy. the european commission's vice president told bloomberg that beijing had been watching brexit closely. they aresurely, concerned. their concern about stability in europe, not only because of brexit but also because of the rising populism. so they indicated very clearly the strongest of court europe. manus: bloomberg's tom mackenzie, a very good day to you. trying to divine what the message would be to theresa may, what would that be as we start these discussions? well, manus, the message from the chinese will very much be they want to see negotiations proceed, as quickly and as smoothly as possible. the meeting is now happening behind me at the bank, for the presidents of the european commission, john claude junker, will be giving details on what they're talking to the chinese counterparts about. you heard the chinese are concerned about brexit. they want to how the negotiations will proceed. the

manus. manus: caroline, thank you. top live on the go, looking at all of the comments coming through on credit suisse on their earnings. it has been a heck of a morning for earnings. francine lacqua is live in zurich. -- ryanith the ceo chilcote is live in london on the show numbers. let's get first word news with haslinda amin. haslinda: barack obama says americans must reject the message of here and division being delivered by donald trump areelect hillary clinton speaking in philadelphia, the president said clinton has vision and the discipline to move the u.s. forward. crisis,in the midst of she listens to people and she keeps her cool and she treats everybody with respect. no matter how daunting the odds, how much people try to knock her down, she never ever quits. haslinda: fed officials have upgraded their estimate of the u.s. economy and taking a step toward raising interest rates later this year. at the mostly -- f moc members -- labor utilization has shown some increase but acknowledged that inflation remains

manus: i am manus cranny. we've got a little breaking news for you.nna: let's start with agrochemicals. first-half net income, $1.06 billion. first-half operating profit, $1.35 billion. .he sales number, those are the numbers coming through. i have to channel morgan stanley and say it's unlikely to move the shares given the ongoing takeover bid. the committee on foreign investment in the united states, they are an inter-agency watches overt global trade, and it has been casting its eye over the cam china deal. the timing of the deal will be an interest. these numbers, just coming through. we've got a number that compares against the estimate, $1.77 billion. that looks to be a little bit light. maybe that will move the numbers, but crucially, we are looking for detail. manus: i've got lights for you? have you switched over to leds? total led-based sales, a growth of 25%. this is 53% of the company's sales, the seventh consecutive quarter of year on year improvement. quarterfor the second .f this year $161 million. 9.3. margins come in at net income of

manus: i am manus cranny. there is a relief rally in the turkish lira. a tremendous level of volatility we have seen since the close of business on friday, a military coup attempt in turkey. if you want to understand volatility, this is it. the one-day move on friday, comingmazing pictures from turkey -- you saw the lira really take a hit. the market saw the biggest drop, turkish air dropping the most in eight years. we recouped some of those losses. of question is the flight capital, will it continue, or erdogan's grip on power convince investors? goldman sachs say they have lowered their lira forecast. anna: it's a country with a big current account deficit. that is why the flow of assets really matters for the company. -- the country. the government is trying to reassure investors internationally. we will see how stocks do. wey analysts pointed out haven't always seen a sustained hit to the turkish equity market post-coup.market the ringgit, actually falling. a lot of what is going on in currency markets has to do with the dollar, and this is one of t

manus: and i am manus cranny at the bank of england.nna, will the bank of england cut rates for the first time since 2009? the governor had a message for the market, markets and economists are less assured. this is a governor who we know acts ahead of the knee. that is what we're going to be focused on, 12 noon, the bank of england back to you. anna: let us but the risk radar, show our viewers what is happening overnight in various asset classes. the rally in equity markets losing steam just a little bit. we have u.s. markets of course nearly all-time highs, waiting for the earnings season to kick off in earnest. the msci asian-pacific treading water, the pound in there because of the focus on bank of england today, and in the wake of theresa may appointing some of her tea cabinets. as wasmany women suggested yesterday. there will be more names announced today. 132 on the pound against the u.s. dollar, bouncing 4/10 of a percentage oil in there, rebounding as investors weigh u.s. apply. gasoline inventories rose over barrels. having a g

david: thanks manus.anging gears, the dam a person says it has beaten market expectations for a second quarter. the automaker says adjusted earnings up 5.6% in initial tally. it excludes 900 million euros set aside for airbag recalls and legal charges. to revokea plans certification and bad sales of 32 models made by vw and audi. that is as an investigation widens the ministry of the environment says it will be holding a public hearing on the german automakers units on july 22. -- theaude yunker $582 milliond -- along with other -- he did not identify those it is working with only to say they are not related parties at ikea will recall 1.7 million -- over fears of injuries to children. the recalls including drivers -- including dresses linked to accidents and the u.s. late last month, ikea announced recalls of 29 million dressers and chess in the u.s. that is your bloomberg business flash. anna. manus. anna: david ingles with the business flash. theresa may will succeed david cameron, steering the country

manus?: japan's prime minister has promised swfiift and old economic measures after winning an election. we are now joined from tokyo. so, the win put the wind in his sails. what are we getting ready for? stimulus me up? >> that is right. he said he wants to do bold stimulus measures. when prime minister abe decided to announce he was postponing the sales tax increase back on june 1 he said, they will be brought, bold economic measures in the fall. now, with this upper house election, this gives him a mandate to do more. over, -- however, with the 2/3 win he could begin the process of reviving the institution. we do not know yet what he will economy, but tomorrow we are supposed to get more details. caroline: and there have been some numbers potentially about advisors. 23 million yen is what people are looking at, in terms of the stimulus. talk to us about the challenges awaiting abenomics. >> there has been a lot of stimulus already in the economy. the number you mentioned is what one of hi

manu: mixed reviews. this is the first time he came to capitol hill to meet with senate republicans in a full conference since becoming the presumptive nominee. spent the first past of the day talking to house republicans. it went generally well, based on the house republicans who were there. not everyone was totally thrilled about things he said. misstated a number of articles in the constitution, for instance. detail.all manu: small detail. remarksd some pause for but on the senate side, it was butverall collegial affair he got into an argument with isf blake, republican, who not endorsing donald trump and he criticized him over trump's comments over mexican immigrants he would try to defeat him in the election this for and he's not up election this year and he criticized mark kirk from illinois, republican senator who endorsing donald trump and that didn't go over very well. gwen: the first part of the week, so much conversation about this tweet that he sent out involving a six-pointed star. i had to c

. >> i'm manus cranny. anna: they're sticking to their full year forecast of $1.375 billion and given what we've heard from lufthansa about the the state of the aviation industry, perhaps that would be seen as no mean feat. they see second quarter fares falling at least 6%. we previously heard that ticket prices would fall 5% to 7% in the first half of fiscal 2017. so that -- that would have been the first two quarters. not right out of the ballpark. they're cutting, they'rey cut winter capacity due to brexit. this is something we heard from another company a week or so ago. that the eastern european focused airline would be cutting capacity to u.k. as a result. they're pivoting growth away from u.k., this is what was warned about previously. they see second half fares eclining 10% to 12%. they talked about weakness in prigses. although they're staking with it, there's downside risk. we'll speak to ryanair's c.f.o. joining us at 7:00 u.k. time. manus: we've got phillips, they adjusted their number, $574 bil

manus: you are right. it is an interesting progression, every time we get hit with these moments of tragedy, and paris or brussels are wer countries, becoming almost immune? the gravity needs to be so great before financial markets react? try toi would hate to calibrate the horror of these different events. i don't know that you can say this is any worse than other events. to we as a society more used them than six months ago? yes. anna: thank you very much. manus: second-quarter earnings fargo.ls at the same time, the bank of england governor mark carney and canadian environment minister speak at a climate change market in toronto. anna: half an hour later, we get u.s. retail data. and the minneapolis fed president takes on a discussion with his st. louis counterpart. china consumers and the economy,econd-biggest stabilize. how sustainable is the lending boom? ♪ welcome back. it is 6:18 in london. let's go to the bloomberg is this flash. -- business flash. >> the french president has and willa state of th

manus. globalization is at risk. signal ever chiefs building anxiety. warnings of a possible profit downgrade on brexit. we hear from executives from both companies. and broadening verizon. the long fight for survival t comes to an end. verizon is offering $4.8 billion. you say, same to pick up as we enter the market open. we are but 10 seconds away. futures are signaling that we could cling on to some of the gains. will there be more money come more desire to go in as we see hope of more stimulus to come. let's get into wti, because we are starting to see the market begin to open here in berlin. over all, it is flat on the ftse 100. precious metals are falling as the dollar strengthens. we are waiting for the cac 40 to. open overall the dax, always a bit of a laggard when it comes to the open. but manus, so many individual stocks to talk about. potential profit warnings from ryanair, but i pretty flat day when it comes to the open. manus: yes, it is fairly anemic. we have the bank of japan

manus cranny spoke to the ceo, sergio ermotti.with thery pleased strong quarter, not only in absolute terms, but if i compare it to the second quarter of 2015, we are up. both in absolute and relative terms, very strong results across all businesses. quarter, therst phrase was paralyzing volatility. that016 going to be a year we've got to get used to subdued activity? >> it looks like. there is very little visibility about the near future on all fronts. macroeconomic, geopolitical, and clearly, this is translated by client risk aversion. we can measure it in terms of cash holdings. our average cash holdings of our clients outside the u.s. is 28%. in the u.s., declared cash holdings is up to 22%, the highest level we have been seeing for a while. it is a challenging environment. francine: that was ubs ceo sergio ermotti. cranny. live to manus sergio ermotti staked his reputation on the wealth management business. is that paying off? manus: the strategy is proving harder. everybody thought they were moderately insulated. you sat dow

manus: cannot get enough of me. a bit of an about turn. anna: that is one thing we are watching. the ftse 100 could outperform a little bit. buyersflat with downward "countdown. that looks to be in store. that is" for you. we will leave you with manus and the "on the move" team. ♪ hey how's it going, hotcakes? hotcakes. this place has hotcakes. so why aren't they selling like hotcakes? with comcast business internet and wifi pro, they could be. just add a customized message to your wifi pro splash page and you'll reach your customers where their eyes are already - on their devices. order up. it's more than just wifi, it can help grow your business. you don't see that every day. introducing wifi pro, wifi that helps grow your business. comcast business. built for business. ♪ manus: you are welcome. it is "on the move." 7:30 in london. 8:30 in berlin. we are counting down the market open. manus cranny. caroline hyde is in berlin. what have we had for you today? it is a bad start as bp kicks off the earnings season. .5

manus: i am manus cranny. bold and broad, the words from shinzo abe? we are talking about a blockade. i'm talking about a blockade, and that's the mental blockade. we are off a 2.5-year high. in market position dollar-yen is as long as long can be, the longest since december of 2012. with moregot abe political brute force and the ability to come through potentially with a ¥10 trillion to you that ise with the market is potentially going to look at. all of this plays into the psychology which is, are we long and wrong, and will houston was package from abe stop this march of the yen? anna: what does broad and bold look like a? we have had that since the beginning of june. let's have a look at the risk rate. onery strong jobs report out friday. we saw the s&p on friday flirting with a record close. 287,000 jobs. we've got gold and silver near two-month highs. we put in the emerging market currency, and we particularly like the ringgit. it's the better performing affects this year. the emerging market fx, doing pretty well. the yield on the u.s. 10-year,

manus: would you consider participating in capital raising? is our bread-and-butter business to help clients to financial transactions. in general terms, not only for that bank, but in general, this is our business. we would evaluate any opportunities. manus: sergio ermotti delivering his second-quarter numbers. if paralyzing volatility was the hallmark of q1, subdued is the hallmark of q2. the issue is this. for a long haul of subdued activity and mark prophet has dropped. -- subdued activity? profit has dropped. it is down to some idiocy as he is. syncracies. idio if you look over the first six months, this was the intriguing part of the conversation both on record and before and after, this 40 million swiss francs of net new money. the war chests are filling up. one of the challenges for ubs last year was to push away cash. we're sitting there going, we're not going to do anything with this money. that is costing ubs money. what we've got now is a net inflow of approximately 40 million swiss francs. if and when this subdued -- by the way, i

cnn's manu raju joins us with more on his big night. manu. >> reporter: this was donald trump that was tapping into the economic anxiety of the country. painting a bleak picture of the united states right now and promoting what he believes would be a strong united states if he were to become the commander in chief. he was railing on trade deals. he was talking a trade deals. listen to the hard line he took by saying the country's immigration is leading to the economic problems here in the country. >> americans want relief from uncontrolled immigration which is what we have now. communities want relief. yet, hillary clinton, is proposing mass amnesty, mass immigration and mass lawlessness. her plan will overwhelm your schools and hospitals, further reduce your jobs and wages. we are going to build a great border wall to stop illegal immigration. to stop the gangs and the violence. and to stop the drugs from pouring into our communities. >> reporter: now the question out of the four-day event, christine and john, how much does donald trum

manu raju was there. let's get to manu who is inside the convention hall with more.manu, what did he tell you? >> reporter: i asked joe biden if he's concerned with the outburst from those bernie sanders supporters. he really down played it and dismissed it. he said those people need some time, we, referring to democrats, need to show a little class, give them some time, some effort to come around to hillary clinton, don't just expect them to back hillary clinton. but he also did not think they were going to vote for donald trump. he said, hey, show of hands here, who believes that donald trump will actually get the support of these bernie sanders supporters. he said i don't think anyone does. in one sense he says don't get too worked up. don't get too concerned about the fact that we're seeing these outbursts as this convention has gotten off to a rough start. he thinks at the end of the day it will be fine. the party shouldn't take any pointed jabs at these folks, but probably part of that message we saw last night. the vice president doing a walkthrough, spoke wit

we are on the western border of manu national park. >> we have driven to this remote region. have to continue up to elevation of 2600 meters. weant to find out more about the shy animal in manu national park. >> the bear is typical of this range. there are many different ecosystems here. we call thisis be "the gardenerf the forestar, -- this bear, "the gardener of the forest." it eats a lot of fruit. >> what is special about the forest is that they sometimes have a tropical or alpine chcharacter, depenending on the light, heat, and water that they get. she is researching the life of the spectacled bear. she inststalls camerera traps on traiails the incasas used. the bears would d rather use the trails, , rather than fifight tr way through the vegetation. you can find the evidence of them. >> here are marks from a bear who climbed into this tree. you can see exactly where he clawed. this one is even better. the four clalaws latched on here. here is his droppings. you see the seeds. they are everyrywhere. it is all still here. >> there are said to b be under 25000 bears left in

manu joins us with the night's biggest moment of controversy. manu, wow! >> reporter: indeed., very tense in that room. remember, this is the first time that ted cruz has really spoken in depth about the campaign, about donald trump since he dropped out of the race in may. what we heard in that convention hall last night was not much mention of donald trump at all. in his speech, he only referenced donald trump at the top of the speech, congratulating him for winning. but when he talked about republican and conservative values, he did not offer that endorsement, and that made people very angry in that crowd. what really drew a lout of outrage, people saying lying ted, is when he told voters to vote their conscience in the fall. >> stand and speak and vote your conscience. vote for candidates up and down the ticket who you trust to defend our freedom and to be faithful to the constitution. >> endorse trump! endorse trump! >> we must make the most of our moment, to fight for freedom, to protect our god-given rights. even of those with whom we don't agree. we will unite the party

let us get the details from manus cranny. manus: is it a lack of stimulus? it a cause for breath? sachs is going to set the tender. thisll drop by about 18% year. perhaps there is a bump in fixed income trading at the end of the quarter it is not enough to pull the whole system higher. all securities are down by .2 part -- .25%. oil is back at $45. turkish stocks at the bottom of your screen. istanbul stocks down 7% yesterday. declining down by 1% today. i love what one of our editors wrote today. turkey should not be confused with penny stocks. for me, it is about the fx story. new zealand dollar, aussie dollar -- down 40%. macro potential comes into play. the aussies are worried about growth. they may cut rates. the turkish lira should be at the bottom of your screen. moody's potentially cutting to junk. that will come through and hit the lira. lira, 2.98 at the bottom of your screen. a couple of trends. -- $45.17. take a look at some of the stocks on the move. erickson, sales down. krona -- more cost cuts to come. novartis, profitability falls again. spen

cnn political reporter manu raju joins us now.eporter: john, this is an issue and a moment with major implications on ted cruz's career and overshadowed mike pence's speech to the republican national convention. when ted cruz announced and began his speech, a lot of folks were waiting for that endorsement and waiting for him to talk about donald trump in positive terms. he barely talked about trump. he only congratulated trump for winning the republican nomination. he continued the speech and talked about republican issues and conservatives values and attacked obama and hillary clinton. the crowd booing and chanting of lying ted overshadowing cruz's speech and when cruz encouraged vowede e voter to vote their conscience in november. the crowd did not hold back. >> vote for candidates up and down the ticket who you trust to defend our freedom and to be faithful to the constitution. we must make the most of our moment. to fight for freedom. to protect our god-given rights. even of those with whom we don't agree. we will unite the pa

remember in his campaign when he was manu e manu? he would say vote your conscience. your grandpa. going to call paul ryan eddie. but remember, he kept saying vote your conscience? >> right. >> so he's trying to subliminally put that message over. what he's saying is "don't vote for donald trump." >> on paper, you may not have caught that. if you just read it off the paper, and you saw vote your conscience, you wouldn't, until he actually delivered it up there, you said it was subliminal. i think you're on to something. >> yeah. he was trying to subliminally influence the crowd to not support donald trump. >> would you support him as a future republican candidate? >> who? ted cruz? i wouldn't have supported him if he didn't do that. he comes across as fake. >> the members of the texas delegation, they were clad in ted cruz paraphernalia, and they said we hope our candidate who we supported endorses donald trump, because believe it or not, there are a lot of republicans who really want to beat hillary clinton. and you do that by supporting donald trump. it's a binary choice. >> here

manu raju has more. >> reporter: good morning. the fbi director expected to get a grill today in the house oversight committee where republicans believe he made the wrong decision and not referring this case to the justice department although director comey had strong words about hillary clinton believing she handled the classified information carelessly. they believe she was given preferential treatment. expect to hear the push about why comey made the decision. comey believes he has a good story to tell. he believes they made a good decision with the thorough investigation and expect him to layout the reasons why. this is part of the republican effort to keep this issue alive. speaker paul ryan believes that hillary clinton should be denied classified briefings all together. she should have security clearance revoked and she should release all of the transcripts in talking with the fbi to see if she was speaking truthfully to the investigators. this is really the beginning of the very aggressive effort to keep this issue alive.

manus: thank you very much.k to the event christine lagarde was at every the global economy is resilient. this year, the system has faced two spikes of uncertainty and risk aversion. it has demonstrated its resilience. meanwhile, vodafone reported results and says growth remains stable. vodafone, let's kick off their. will see this as an up arrow story. confirmation that the turnaround is continuing. of revenue they generate off the services, they saw with their network. data and phone calls. it is up 2.2%. last quarter, we got 2.5%. we saw the robust growth we were looking for worldwide. people will be impressed with 2.2%. there were one offs that helped the number. strong,he reasons it is despite the fact that the eu cut roaming charges, growth is share -- stable. caroline: called off about 1%. talk to us about the united kingdom in particular. the brexit affect. .onsumer sentiment and notably, competition. the megadeal is tough times. interestingly, brexit is not too much of an issue. people use their phone j

let's begin with political reporter, manu raju. good morning, manu. >> reporter: good morning, carol. party officials were very concerned about the convention yesterday, and sanders supporters could disrupt the meetings. they had private meetings between the sanders and clinton campaign to reign in the supporters. on the floor yesterday, it didn't quite work. we heard outbursts, and interruptions of speaker. one was not interrupted, and that's michelle obama. >> don't let anyone ever tell you that this country isn't great. >> reporter: michelle obama, bringing down the house on night one of the democratic convention. >> this right now is the greatest country on earth. >> reporter: the first lady, leading a power list of headliners, including bernie sanders. >> thank you. >> reporter: after a hard fought primary, sanders, welcomed to the stage amid deafening cheers in the three minute standing ovation. before delivering a full throated endorsement of his former rival in the most important political moment of the night. >> hillary cl

manus cranny at the bank of england. let's bring in our guest, chief investment officer at restaurants. the new chancellor of the exchequer is speaking this morning. he's indicated that governor carney is doing an excellent job. i would assume, giving the green light for carney to do what he needs to do. how do you think the relationship is going to work? it was very good under the osborne administration. what happens now? >> the same officials will be working with philip hammond that worked with george osborne. i would expect the relationship to remain good. philip hammond is a very experienced politician, a safe pair of hands, not one to spring surprises on the bank. the point that your commentators have made is relevant. carney has got to be very clear about policy as far as the markets are concerned. that is not just about the cut today, which i think is priced in, but where we go from here on in. that is about where we are considering quantitative easing or something more original. that sort of certainty is what mar

manus: central banks doing nothing to help anyone today.act of the day -- -- the turnaround at ces may be subdued. caroline: very beautiful zurich it is. a great interview with the ubs chief executive. european banking authority's latest stress tests tonight. in a break from the past, they special --veal or specify capital shortfalls. they will focus on the euros in bad loans in italy's banking system. our next guest says italy should stop trying to preserve its current banking structure. he joins us from frankfurt. great to have you on the show. ofe us a sense therefore what you want to see from italy. going banking stress test to fast forward or accelerate some of the changes they need in terms of their low performing loans? >> that would be something we would all desire to happen but it is unlikely to be the case. test is an exercise by the supervisor which allows the banks to learn how they would perform under very diverse circumstances. in doing this, they could adjust beforehand so they could really restructure for instance if the ind

hi, manu. >> reporter: that's right.on hall was the scene of a very tense moment last night when ted cruz refused to endorse donald trump. the republican delegates were waiting for that endorsement. when it did not come, things got ugly. >> i want to congratulate donald trump on winning the nomination. >> reporter: it was all downhill from there.

our senior political reporter manu raju is there. kaine's going through his run-through for his big speech tonight. tell us about it, manu. >> yes, that's right, tim kaine walking through the stage right now, carol, talking about virginia, one thing, the message he just gave, look how close virginia is to the convention floor. he said, look, this was not the case several years ago, virginia used to be way, way far back but now things are different. i shouted a question to him, do you think virginia can win, he said i think we'll do well. the question i posed to him, are you concerned about some of the bernie supporters. he said, well, i love them. another question, are you opposed to ttp. he didn't respond to that. this will be the biggest moment of his political career, introducing himself to the nation. the poll from earlier this week, tim kaine waving to some supporter, right now. the poll found that about 80% of the country does not know who tim kaine is so this will be his opportunity to introduce himself. now, carol, it's not j