i'm mark barton. vonnie: i'm vonnie quinn. for mobile phones, but only in one area. mark: more follow from the brexit vote. it has taken its toll on the london real estate market, dragging down prices of homes in the city. 's legacy is chavez starting to fade after collapsing oil prices and corruption plagued the country. venezuela.ook at houses in london are taking longer to sell than before the brexit vote. homes are staying on the market five days more than they were in may. homeowners have encouraged buyers by cutting the average asking price almost 4% to just about $1 million. william hill has rejected an improved takeover offer. thanid is valued at more $4 billion. the william hill chairman says the offer continues to substantially undervalued the company. authorities in china and lift restrictions on the use of mobile phones on airplanes if legislation is approved. passengers would be able to shop online and use popular apps. regulators in the u.s. and europe instituted similar changes about three years ago. the world's

mark: i'm mark barton. this is the european close.t under eight minutes to go until the end of the monday session. live from london and new york, i'm vonnie quinn. let's get back to dealmaking on this merger monday. kkr may be eyeing a bid for owner entertainment one. it rejected an offer from itv. thingset a look at where stand for the potential media merger. eric pfanner. thanks for joining us today. itv was spurned last week. is kkr waiting in the wings? eric: they certainly signaled over the weekend that they could be interested. , pondering a too possible higher bid. the bid was rejected. is there a figure that analysts are saying could be a knockout blow? around 2.90e heard pence a share. that was before kkr came in and signaled their entrance. maybe he could go higher than that. it is a different prospect should kkr by entertainment one. typically, a private equity firm comes in and makes cuts, and then exits. what would be the outlook for entertainment one, were kkr to be successful? eric: this is a company with some interesti

mark: i am mark barton. 31 is left in the trading day, you are watching the european close on "bloomberg london, stories out of italy and washington in the next hour. here's what we're watching today. follow from the european bank stress test, lenders dragging down equities, even as stress test results showed most of the firms would keep it as a quick level of capital in a crisis. why investors remain skeptical about the results. musk's tesla motors buys silver city for $2.6 million. $300 million less than the original proposal. and we look ahead to the bank of england decision this week as investors anticipate a possible interest rate cut for the first time in more than seven years.

mark: i am mark barton. there are minutes left in the trading day. ng the european close on bloomberg television. ♪ mark: we are going to take you from washington to new york and tell the stories out of italy and the u.k. in the next hour. there's what we are watching today. european banks rebounding in today's session but breaking down the earnings from everyone including hsbc and k-fed. hearing from the top executives. matt: real reporting the worst profits since 2004 as the price for metals rose at the second-biggest mining company. ceo talks' new strategy. and pmi drops in july ahead of the super

mark: i am mark barton.ostritain has a solution to keep enjoying the benefits of the european union are diminishing. the u.k. will have to pay into the european union budget if it market have the advantages. >> before freedoms of the market are linked together, there is no possibility for example to keept the free movement to all the other freedoms. this is one point that may not be in line. secondly, i think if someone wants to benefit from the european union market sector, contribute to the cost of the operation. no one talks about that. more on this big story in just a second. we will carry on with this door he in a second. the latest first word news. >> and italian state general today paying tribute to 37 of the 392 victims of last week's earthquake. the evening mass is taking place in one of the towns flattened either earthquake. this after residents balked at the government planned to hold it in a distant airport hangar. in brazil, and peach met proceedings continued after bill marie failed to win over

mark: i am mark barton. this is your global business report. janet yellen gives a strong clue on the future of interest rates and other policymakers are making the case for a rate increase now. sab miller plans to eliminate thousands of jobs to save money. vonnie: social security for everyone, should the government guarantee every citizen an annual stipend, no strings attached? we begin in jackson hole, wyoming where most of the conversation is on the future of the u.s. interest rates. janet yellen said conditions are improving to support a rate hike and fed policymakers agree for the most part. robert kaplan said the may -- the time may be right now to raise rates. >> we said rates should be raised patiently and gradually and cautiously. part of what i'm thinking is the impact on the dollar potentially destabilizing effects on the rest of the world. it does not tell me we should not raise rates but it should be pastry -- patient and gradual. britain, consumer confidence is bouncing back after the initial vote to leave the european union. consu

mark: i'm mark barton. this is your global business report. ius says helicopter money is coming to japan and it could be as early as next month. he will tell us why the bank of japan cannot resist it any longer. mark: apple want to popularize -- capitalize on the popularity of social media. what changes it is making to the iphone. etf's were invented for small investors, but over the years they have grown more sophisticated and complex, and that has regulators concerned. veteran investor mark mobius says helicopter money will be japan's next experiment, and could happen next month. combined with a stronger yen, he says this will force the bank of japan to compensate a policy it has repeatedly ruled out. they will engage in helicopter money with great care and reluctance. if they do it to carefully, it will not have the desired effect. that is the dilemma they are facing. cook marksweek, tim his fifth year as apple's chief executive and has done very well for himself. he hasthat time, received in share value $300 million. apple stock has doubled

mark: i mark barton. let's check in with first word news today.parenti has more from our newsroom in new york. alisa: in japan the newest member of prime minister shinzo us cabinet -- floating the idea of a wage target that would take on one of the key nomics so far.e minister theresa may is trying to reassure small and medium-sized companies in the wake of the brexit vote. she is meeting with companies and trade associations today on exitgenda, their views on negotiations and how the government can help them drum up business in new markets. president obama goes to the pentagon to discuss what the u.s. is doing to defeat islamic state. the u.s. and allies have made recent gains against the group in iraq in syria. the u.s. has started bombing islamic state targets in libya. after the meeting, president obama will hold a news conference scheduled for 4:15 p.m. eastern time. we will have live coverage on bloomberg. president obama is writing a convention bump. newoval rating is 54% in a cnn rc poll. his best rating in almost four years. 54% say thing

mark: and i am mark barton. 30 minutes left in the trading day in your very you are watching the europeanfrom washington to london and cover stories out of japan and germany in the next hour. here is what we are watching today. commerzbank shopping -- dropping the most in a month. we will look at what is draing down the orall sector for a second day. shery: turbulence in japan's markets and for global investors after the government's this golf -- fiscal plan underwhelmed investors. bmw pledges to defend their league in the world's luxury

mark: i am mark barton.omberg business flash, a look at some of the biggest business stories in the news right now. shares of product rose 12% today. the time luxury goods maker predicts a rebound next year. we demand in china, terrorist attacks in europe caused sales to slump in the first months of the year. bmw is trying to put its flagship seven series back in the luxury car race. the automaker is coming out with a sporty tutor -- two-door version of the seven series according to people familiar with the plans. now out cells>> the series. next year, audi will come out with an updated version of its flagship. that is the latest flash. vonnie: finally, carl icahn raising the state in the battle bill ackman.e with shares of the supplements company rising today after our icon increased his stake. he bought an additional 2.3 million shares. joining us now is matt. intohe acquisition context. what does the extra share -- do the extra shares mean? stake toincreased his 21% who is still basically betting against

mark: live from london i am mark barton. the european close on bloomberg markets. ♪ mark: we will take you from washington to london and cover stories out of china and australia. here is what we are watching today. in the first in clues on the u.k. economy in the wake of the brexit vote we see inflation accelerated july. we will ask an economist whether he sees it bursting through the 2% gold by the second quarter of next year. vonnie: more of brexit vote fallout. investment banks will start the process of moving jobs from the u.k. within weeks of the u.k. government triggering article 50. our exclusive reporting on the largest four of the firms.

mark: and i am mark, barton. time -- mark barton. time for the bloomberg business flash. consumer confidence is bouncing back after the initial shock of the vote to leave the european union. an index of consumer sentiment rose this month by the marxist -- by the most in three years. this may turn how into economic activity for the bank of england -- economic activity. sluggish sentiment will allow -- 1.2 billion dollars to the emissions testing scandal. the deal calls for vw to buy back unfixable used cars. theprice take to resolve lawsuit is now more than $16 billion. starting next year passengers on -- flights will have access to airborne wi-fi that is faster than anything pre-existing existing in-flight wi-fi services uses satellites or -- but not both. mark: and a push back to cut 5500 jobs once the takeover of sab miller is complete. of itspresents 3% combined workforce. the cut will be made over three years. it can save $1.4 billion per year after the takeover. that is our latest bloomberg business flash. mark: take a look at where european equities finished the day

. ♪ i'm mark barton counting down to the european close. 17 minutes away.loomberg world headquarters in new york, i am vonnie quinn. it is time for the business flash, a look at some of the biggest business stories. -- a wider than expected second-quarter loss. costs.n reason -- more the ceo is pushing ahead with a five-year plan after revamping the senior management team. hires slumped the most in london in seven years last month. a dramatic freefall." it could be an indicator of brexit holding back economic growth. and that is your bloomberg business flash for this hour. the u.s. stocks as well as shares are getting a post jobs boost. the labor department figures were added injobs july with the unemployment rate holding steady at 4.9%. earlier, we got reaction from everyone from bill gross to rick reader at black rock. >> today's numbers are strong all round. >> that is a very solid report. >> a solid number. >> the kind of report i would've hoped for when i was working at the white house. >> this might show some good gains in wages. >> we thought the num

let's head to the bloomberg with mark barton for your asset checked. sting a whole host of earnings, looking at the price of oil which is in a bear market, and thinking about the fiscal stimulus plan that has been announced in japan. all 19 industry groups on the stoxx 600 are declining. the gauge is 1.2% lower. further afield as the currency markets. i'm keeping an eye on the australian dollar. these currencies are rising against the aussie, these are falling. australian central bank cut its lending rate to a record low. it was to support the labor market hampered by underemployment. glenn stevens lowering the cash rate by 1.5%. inflation remains quite low, given very subdued growth and labor costs and low growth elsewhere. this is expected to remain the case for some time. this is the price of crude oil over the last 12 months. crude is in a bear market. it has fallen from its one-year highs on june 8 through yesterday by 20%. 11k at the rally february when it fell to a 13 year low. through the highs of june 8 it almost doubled the crew is falling, ho

this is bloomberg. ♪ mark: i am mark barton in london.s get to bloomberg business flash with sebastien selleck. --samsung electronics interest from the digital buyers component unit. >> we have a good relationship with samsung, both as a supplier and a partner. i happen to have a good relationship. we share membership on the board of eggs or. i have made no comment on the samsung deal at all. the opportunity is an opportunity that has been looked at by a variety of people. -- it addsinterest strategic value to us. 22% decline in profit with net income down to $3 billion. china's big three energy companies have suffered this year. -- its first loss. it says the global oil glut continuing and oil prices staying low. broken turbines on three planes with rolls-royce engines. an investigation into the engine of the boeing plane. the airline canceled more than a dozen dream cap -- dreamliner flights since last week. said he the chairman sees a rebound for the company as early as next year. the comments came after a report of the first decline s

let's head to the bloomberg with mark barton. mark: the federal reserve monetary policy toolkit.e of janet yellen's speech later. bank of america merrill lynch says jackson hole has only really moved the markets once in the last decade, 2010. ben bernanke then signaling more qe. stocks are down today, looking like they will finish the week higher. to is the biggest provider of high security mobile phone and bank card chips. it reported an increase in first-half profits. today.up 7% vivendi, the french media company, posted earnings in the second quarter that missed estimates. cost by 300reduce million euros. shares down by 5%. big piece of macro data today, excluding u.k. gdp, japan inflation. consumer prices falling for a fifth consecutive, excluding fresh food. prices falling 0.5%. it is a long way away from the boj target. francine: thank you so much, mark barton. with me this morning for our weekly "brexit: what's next" special show, simon woodruff. thank you for staying with us. politics,lking about brexit, and you said something that struck me. maybe we should give a chance

mark: i am mark barton. you are watching the european close on bloomberg markets.ven minutes away. we are watching rio tinto shares falling. the minor reported its worst profits since 2004. depressed prices for iron ore, aluminum and copper are to blame. we have the chief executive john jacques, jock -- this was a disaster. jean-sebastien: china has been down. all assumptions for planning purposes, you are to assume market conditions would be challenging in the possible future. we want to be the master of destiny, which means we will work hard in terms of tier one safety,nd to drive up productivity to the next level. whatever market environment we have, assets will be free cash flow positive. and we want to balance the sheet , critical in this environment. we have a project we are currently assisting early days, when we progress and come back to the markets on this one. mark: talk about china more specifically. they are trying to consolidate capacity. i want to understand what that meant for you. you have a billion-dollar trade with that country. with their consoli

am mark barton.n bloomberg survey, he outlined the case for a short and long-term prize, as well as opec capacity. >> the market is perceiving a lot of reasons to be short, and a lot of reasons to belong. which will be right? a lot of this is whether you focus on the rebound the u.s. wildcats will have an supply. >> the 200 day moving average. it works here. with aly range bound flat line 200 day moving average. what is the citigroup call? 48 for this quarter. 52 next quarter. 65 brent by the end. it should work higher. morris, great to speak to you. does it mean there is no shell cap on the price of oil? we talk about 50 at the price where they turn off the cap. is that a price analysis or does it change five years from now? targetis really a moving . the moving target has to do with one of the things we do not talk about all the time, and that is oil inh does it produce the united states? that cost level keeps going down. that really models the picture. we have never really been in a situation when

mark: and i am mark barton.erg business flash, look at the biggest business stories in the news right now. the collapse in raw materials sent profit plummeting at the world's biggest mining company. bhp billiton earnings fell. the worst since 2001. a the company seems longer-term brighter outlook for copper and oil. inflation in the u.k. picked up last not -- last month. the week pound lead to a big jump, the biggest since 2011, the first hard economic number since the u.k. voted in june to leave the eu. that is the latest bloomberg business flash. vonnie: now to a shift in the 100 till you dollar -- $100 trillion bond market. asset managers and hedge funds take on a larger role. alastair marsh wrote about this trend in the 80's -- latest issue of bloomberg markets magazine and joins us now. boil us down to the very simple facts. the central -- is this a central bank created phenomenon? alastair: the central bank has made the market this liquid, the real story is the investment banks and they have been dethroned

. ♪ mark: i am mark barton. vonnie: i am vonnie quinn.ime for a look at some of the biggest this and stories in the room -- in the news right now. broken turbines on three of its 787 jets. other parts of the engine damaged when snapped off, the engines built by rolls-royce. check the engines -- met with facebook founder ceo mark zuckerberg. to discuss these communications technologies and relief poverty and some of the world's is most is it vanished communities. a meeting taking place in the residence. the popehouse where lives. thousands of want to be drone pilots in the u.s. are racing to get license. more than 3300 have signed up to take test today. within a year, the number of operators for hire may exceed the nation's 171,000 private pilots. that is your business flash. mark: abigail doolittle has the latest. what have you got? abigail: we have quite a few movers here. chipotle mexican grill, shares are higher on the news, the report saying they believe the inpany had improved from 21% july and expect that strength to continue in sep

hour, top of the next mark barton and vonnie quinn?ace the last couple isdays and valerie pecresse desperate to attract talented people from london post-brexit. she is willing to bear to to do so. stephen gallagher has a new report on what a trump presidency means for the market and the economy. donald trump is going to mexico with a big immigration speech. at future growth is one of our top stories. it's africa's biggest private fixed income money manager and they have suspended their new state entities with proper oversight. the rand is the biggest fall are on the major currencies. that was mark barton so stay tuned. you have to listen to that story. alix: we have a mover in early trading in the u.s. and that's twitter, up by over 4%. it's spiking at session highs around the open. i want to find the headline for why this is happening but we will keep you updated. twitter is up 4% in premarket and we are 21 minutes into the last day of trading in august. this is bloomberg. ♪ caroline: "bloomberg this is "bloomberg ." in a few

. ♪ mark: live from london, i am mark barton counting you down to the european close.e are 16 minutes away. vonnie: i am vonnie quinn. getting back now to the apple tax ruling after it was ordered by the european commission to pay or $10.5 billion in rears taxes and a crackdown. apple and the irish government bowing to fight the decision. to fight the decision. n are joined now by michael oonan. is apple the decision? putting pressure to fight the decision on their behalf? divers government will make a decision tomorrow to repeal. we are repealing it because we do not accept the irish authorities did anything improper, incorrect, or a, and we want to stand by the decision in may this when they gave opinions to apple about how activities in ireland will be traded for tax purposes. secondly, we think the incompetence under european protection matters. inthink the competition europe is trying to get through the back door to influence tax matters and to portray them as a state aid issue. we believe if they succeed they will widen it and will try to have a controlling inter

mark: i am mark barton. 30 minutes away from the end of the thursday trading session -- 13 minutes away. we will see how the june will impact operations. here is mark wilson earlier with manus cranny. questioned sure what the rate cut is trying to answer. we have already got low rates, switched housing with people. people can borrow free money. our debt costs are coming down and down. what is a rate cut going to achieve? i would much rather see the government do something more meaningful like reduce health and, destruction. people like us grow in the u.k.. we are investing in the u.k.. we like the u.k. and nothing is better than to invest in the right infrastructure with the right risk. the government should be doing things like construction risk and infrastructure and we will get more investment. he is talking about a major physical reset. i assume that is something you would welcome. i cite the geography of the united kingdom. how is brexit going to impact you as a business model? >> different sectors get

i am mark barton. vonnie: i'm vonnie quinn.t to take a quick look at european stocks before we get to the close, we did another intraday high for the s&p 500, up four points. the dow jones industrial average is up 29 points. percent,q up 7/10 of a continuing to climb. i amiguring out --mark: how below the record high, 17% below the record set last april. -- ai did vgins fortunes divergent fortune they are expensive. after three weeks of gains, it's all about the banking stress test results. you are watching bloomberg television. we are four minutes away from the close. stay with us. ♪ ?c+sv ♪ live from london and new york you're watching the european close. stocks finish in the monday session. check that the board, down by half of 1%. the best a stretch for two months, july was the best month since october. it was the banks lead in the index lower today for these of the constituent of the stoxx 600. it fell by 1.6% today. only five banks rose today. of those that were stress tested, had the entire capital wide-out. it announced

jon: i want to cross over to our colleagues mark barton and vonnie quinn. ing to michael mckee give a rundown of the headlines. session,losed door held for invitees only. i am vonnie quinn in new york. mark: i am mark barton in new york. this is bloomberg markets. vonnie: welcome to our coverage of the kansas city symposium in jackson hole. on standby.re the formal topic of her speeches around the monetary policy toolkit. many will be looking for clues whether the central bank will raise rates as soon as september. a one in three audits of raising rates next month. -- three odds of raising rates next month. on the see that bloomberg. the possibility of a september move is up to 30%, december 55%. that means in november there is a 34% chance there. mark: it is fascinating to see how our work function changes. president esther george reiterating her call that [indiscernible] the caseplan says is strengthening for another increase. what had of reaction are we seeing in the u.s. ahead of going to thee: terminal here, because you can see we have been in a range b

mark: i am mark barton.television. ♪ vonnie: we will take you from washington to johannes erg and cover stories from italy to brazil in the next hour. it seems janet yellen's speech was hawkish enough to boost the september rate hike and bond whattors agree, but not -- it could mean for the equity markets for this friday practice u.s. payrolls resort. chrysler's is looking into the time -- samsung. what sergio marchionne has to say as the italian american company widened its search for a technology partner. vonnie: shares rise today as it announces lance for the epipen in the coming weeks for

let's head to the bloomberg with mark barton. fth day of gains after the third consecutive weeks of advance. the worst performing industry is the banking industry. the banks in of europe, all 48. it look at the best performing bank, up by 4%. it is the oldest bank, also europe's riskiest. it has been bowed out twice by the italian government since 2009. it plans to sell 5 billion euros of stock. see.esting to performer onorst the stoxx 600 food and beverage index, very clearly heineken. brewerld's third biggest reported sales growth that missed expectations. this below par performance upsetting estimates. heineken down by 2.7%. it is cutting the prices in more than 1000 items by an average of 18% in a bid to squelch fears brexit will lift shopper's bills. it is the third round of major cuts by morrison this year. have brexit has fallen, we had concern retailers would raise prices in response. imports fresh produce and other items. about 40% of food bought in supermarkets is imported according to a researcher. wm morrison supermark

let's head to mark barton. mark: stocks falling for the first day. the stoxx 600 down.t time was august the fifth when it rose over 1%. that was 20 or so days ago. our hold was one company, they live was another. it is forecast to boost the second half profits of joining forces after second quarter profits beat estimates as of cost productions improving profitability in the netherlands. shares of by 1.3%. treasury two-year notes, the cheapest relative to 30 year bonds since the start of 2008. thanks to a large space of hawkish comments from various been officials as we of weight -- as we await janet yellen's speech tomorrow. the yields is poised for its highest growth in two months, 75 basis points. is interest rate expectation -- the blue line is interest rate expectation. -- the 30 yearm yield spread against the two year yield. the extra yield on 30 year bonds onto your notes has contracted the48 basis points, smallest premium on a closing basis since january 2008. the peril that carry trades that demonstrated in this chart returns on perry trades have tumbled from th

let's cross over to mark barton. no failure this time. it down.ak essentially, the bank of england tried to buy longer dated bonds today. last week, it was not so accessible. this week, you have to call it a success. 3.1 2 billionof pounds. as you know, the target was 1.1 7 billion last week. it underperformed and did not receive as many offers and bids. the total this week. it is a bit of a relief. america, -- said it was just getting used to the new supply-balance equation. the bank of england successful in buying longer dated on's. there are three buckets, three to 7, 7 to 15, 15 and above. the three to seven year and seven to 15 year have been successful. there have been three operation so far. three out of four doing well. jonathan: a lot higher than last week. because there was not any covers at all. compared to the other auctions. ofonder whether the supply 2055 bonds will relieve the pressure on the bond market, in terms of supply and availability. mark market -- mark barton coming up on "bloomberg markets." alix: much more uncert

mark: i am mark barton. g the european close on bloomberg market. ♪ mark: we will take you from washington to london. here is what we are watching today. shares of glencore are falling off for the company posted its lowest profit this decade. can we really sure the investors with his pledge plus $500 million? >> a powerful earthquake hit central italy in the middle of the night. the death toll continues to rise. denmark's biggest pension fund says it is growing increasingly worried about how the markets will react across asset classes. one of the many side

jonathan: mark barton joining me on bloomberg radio on thursday morning.looking at the european banking duration with equities getting hammered. low, lossesk record on credit suisse and commerzbank. that stock is down by 9%. joining us today is the head of investment and portfolio strategy at jpmorgan. hit, lendingy gets follows this is not good news is it? were a couple of idiosyncratic issues that are impacting the markets today. obviously we had the stress test results. the -- there was a sense that the italian banks were going to find a way, but over the last couple of days, on the one hand, you saying it isally not clear that i am going to keep my promise. i may confront the eurozone and confront some of the folks in brussels and be a little more aggressive about potentially pushing for use of my own domestic tax revenues to bail out, bail in, however you want to phrase it. we have had a couple of names taken out of the index, and i think some of the biggest movers are impacted by the index constitution, and also what is going on with japan. on there

mark: and i'm mark barton.. ♪ vonnie: we are going to take you from detroit to london and territories and china and washington d.c. in the next hour. a big move at elon musk at tesla pay $2.26ree to billion for solar city. it was criticized as a bailout. elon musk is the largest shareholder. mark: robert kaplan of to bloomberg about the prospect of a rate hike this year. he says september is still on will bee, but the 2017 watching a key report. uber is selling itself to chinese competitor didi.

mark barton has more. mark: donald trump expected to endorse paul ryan. fox news says it will happen in wisconsin. paul ryan's primary contest for house reelection is tuesday. donald trump earlier declined to endorse all right, well his running mate did back the speaker. former kkk grand was her david duke's getting more support from black voters in his u.s. senate race. in louisiana, that donald trump is in his bid for the white house. writes donaldst," duke is getting -- david duke is getting 4%. another victim of the attack in nice, france has died, bringing the death toll to 55. the 56 or old man died in the hospital carried his wife and her 13-year-old son were also killed when a truck driven by a tunisian man-year-old down the promenade on july 14. the islamic state has claimed responsibility. the french president is wasting no time pushing his country as a potential 2024 olympic coast. a series of meetings over two days, including a dinner with the international olympic president. peres lost the 2012 games to london in a surprise for the french, wh

. ♪ ♪ amk: live from london, i mark barton. we have 15 minutes away from the close.: yes we are. bloomberg world headquarters in new york, i am shery ahn. a look at some of the biggest business stories in the news. emerson electric on a killing spree right now. it will sell its network power division two platinum equity and other investors. the deal is valued at $4 billion. they agreed to sell their motor and generator business to the japanese corporation for $1.2 billion. their ceo said they wanted to focus on more profitable units. samsung is unveiling a new smartphone. it has a 5.7 inch screen and enhanced stylus and iris scanner. they extended their smartphone lead over apple in the second quarter. that is your business flash for this hour. let's turn to the luxury car market. the battle is on to be the world's number one luxury carmaker. bmw is pledging to defend their top spot from mercedes. they rose almost 8%, beating estimates. increased total deliveries in the first half of the year. can bmw hold the top spot? i want to join -- bring in to join me elisabeth

mark barton spoke to michael noonan earlier and pointed out the opposition party in ireland would like to see just that. mark: why don't you just accept money and shut up? $13 billion is a lot of money. guest: i have a responsibility for advising the government on these matters. this has rescued ireland from 2011 on and from the creation of high level jobs, it's fundamental to our economic policies and we stand by our economic policies and we're going to protect our economic policies. we are not going to get into a situation of short term gain for long-term damage to the economy. emily: standing his ground there. what kind of long-term advantage are we talking about? alex: as we heard yesterday, people were saying on a scale of one to 10, 10 being extremely damaging, 23. ireland has 140,000 people employed by u.s. tech companies and the risk is they start to be put at risk and it ceases to be the place where companies might go if they go to europe. ireland is about 180 billion euros in debt, so this will go toward paying that off. why should i subsidize apple to have 5500 jobs in irela

this is bloomberg. ♪ ♪ bloomberg.watching i am vonnie quinn. >> and i am mark barton and this is yourness report. >>eruo area inflation cannot get off the ground. will it push ecb policymakers to call for more stimulus? saysutsche bank executive small is better and he says the company is not looking to merge with another bank. after 13 years of uninterrupted expansion, apple sales dropped for the first time at the start of 2016. is another blockbuster product in the pipeline? thatgin with more signs the euro area economic outlook is deteriorating. consumer prices increased .2% over the year. the data comes ahead of the ecb meeting next week and policymakers already have unconventional stimulus measures and have been unable to stoke inflation. joseph stiglitz was critical of ecb policy. the first day we focus on inflation and then the intermediate variable they thought about was the interest rate. now they have negative interest rates. and they have not worked. these negative interest rates have not -- if not done carefully, actually weaken the balance sheet of the banks. mark: deutsch

. >> i'm in for mark barton.0 minutes left for the trading day in europe and you're watching the european close on bloomberg markets. ♪ we will take you from washington to brussels and cover stories in the next hour. here's what we're watching. shares of swiss chemical companies jump in today after your security officials gave a merger with -- a green light. pasteal, can it make it worldwide? >> 2016 is under consideration for a hike and the economy is close to being -- picking up speed. moving the dollar higher. ubs visiting as soon as next year. why everyone from investors to wholesale traders

mark barton and i talked exclusively about us yet -- to a cio about why. >> we realized we could notake decisions. how other asset managers can make different investment decisions. barely meetngaging as asset managers and we will try to make it easy to answer questions. we will send group letters to answer as a group and answer as a group. >> all this takes place as and agenciestinues have no doubt -- no doubt that there are on what is happening to enterprises. company's are being managed. do you fear south africa the will loose its investment-grade credit rating for whatever reason? >> of course i do and it is important to contextualize this. they are the critical delivery mechanism for power or water or agricultural and industrial development. we have no desire to make the decision. south africa will be downgraded below the investment-grade and that is a bad thing. it is manageable. you could get the right place at the agencies have to get -- i am an asset manager and i did not do policies. we do not know which stories are true and false. we can assess the companies we lend money t

this is bloomberg. ♪ mark: live from london and new york, i'm march barton.nie: i'm vonnie quinn. you're watching bloomberg markets. just want to give you a quick check of the markets this jobs friday. we saw the nasdaq top its record closing high a few moments ago, up 1%, 5 points. same for the s&p 500, an intraday high of .7%, now 14 points. the dow jones industrial average is up .8% for a gain of 148 points. the two-year yield, 71 basis points. and that spread widening 85 basis points. time for our e.t.f. friday segment. >> thanks very much. wo filings for bitcoin-related e.t.f.'s have challenged the winklevoss twins. here to discuss why the first one to get approval wins is eric, who covers e.t.f.'s for bloomberg intelligence. happy friday. this is such an interesting topic here. before we get to that, tell me why it's so important to be the first one to get the profit for the e.t.f.'s here. eric: it's huge, especially e.t.f.'s, because of the trading volume f. you're the first one out, people start to trade and you then the volume picks up, zphent bigger

today, when mark barton's wife is murdered, the mild-mannered chemist uses the insurance money to take dive into the fast- paced world of day trading. but mark is about to go bust. ohmer: he lost, like, $105,000

want to check in with mark barton, joining us from london. >> we rebounded from yesterday's losses, europe down for its seventh day. we are up for the seventh consecutive month. basic resources falling on the back of the dollar strength, everyone else rising. german payments processor upgrading to equal weighted in barclays and barkley says the company has built a strong strategic position on product a regional perspective in the last decade. shares are up by 5%. hsbc upgraded the world's largest cement company, raising the price target to $58. recovery,arket further cash return, the price target implies 13% upside from the current share price of 53. confidence worsening more than analysts predicted, a sign that brexit is reverberating among households and companies. this index of industry and consumer confidence fell to 103.5 from a revised one of 4.5 -- 104.5. bring on the ecb, next week. alix: thank you so much. back in the u.s., home prices are up from last year. we are joined by dr. robert shiller. professor, a pleasure to have you here.

manus: mark barton will use that as his caveat. >> we only remember the good ones.: andrew perry stays with us. caroline: thank you. coming up, rand resolve. traders a see more pain to come for the south african currency. the prime minister says he won't report to police. then, the tech tussles. will post brexit london use its title as europe's technology hub? ubs is betting on zurich. we speak to them. and jackson hold up. the markets expect a lot from fed chair janet yellen. we look at what goldman sachs wants. this is bloomberg. ♪ caroline: welcome back. 13 minutes into your trading day, we are down across everything the sector on the stoxx 600. check out the trr function. you will see the sectoral breakdown. worst performers are off by almost 2.3%. every single sector is in the the cac is the underperformer at individual indices. let's get more with the breakdown with juliette saly. juliette: thank you. a new report says investors pulled more than $25 billion from hedge funds last month, the biggest monthly redemption since february, 2009. total outflows this ye

will be continuing the conversation on bloomberg radio, our guest will be joining manus cranny and mark bartonget into the issues in more depth. coming up, we will get back to that oil story, oil now back in bull market, speculation really driving the story. we will carry on the conversation. this is bloomberg. ♪ guy: will come back. 30 minutes of the trading day, let's see how things are shaping up. as a picture of market at the moment. we knew we were going to be kind of flat, probably not as negative as we have priced in. the dax is seve down. softer this morning. yesterday was a little bit of a bounce. let's get the stock stories behind the move, elliott gotkine has the details overall,a down market but i want to highlight one of the standouts, william hill. theye yesterday's close, got a potential offer and a threw in the towel and trying to buy it, but they also said that it has had a pretty decent bump in the second half, and operating profits will be on the high-end of estimate. it is the highest gainer on the stoxx 600. oil,econd-highest is dutch a company which is saying it has reven

they do today, david: coming up at the top of the next hour, it will be "bloomberg markets" with mark bartonabout jack martel, the governor of delaware. that state has a much lower unemployment rate than the rest of the country. when and 50% of companies in the united states are registered in delaware. and there is tax-free shopping, so why does delaware have this and whatent rate, advice would be governor have for other states? he has been rumored to be the potential education secretary if there were to be a clinton administration. we will also be speaking with the ceo of paychex, what he is seeing at a granular level of processing all this paychecks. we all want to move to delaware, alix. alix: we are looking at the s&p 21.76. its closing high, what does a fed re-rate hike mean for the yield market? rick rieder is still with us. can we still see the high -- with this number, the odds of the fed going in september are still low. going in front of an election is pretty difficult for the fed. and the uncertainty was still have not seen with the european growth play out. thee is still a lot th

i am mark barton. matt: i am matt miller. are there too many banks in europe?s yes and he has a solution. over aet ready to fork lot of reality. the debate onned the so-called shery economy. is it good for companies and bad for workers? the bests one of capitalize lenders in the eu, but that does not mean the bank will buy troubled -- isla tells bloomberg there no industrial rationale for tesla to make the deal. he still thinks the other banks in europe should not consolidate. >> in my view, there are too many banks. there can be consolidation within the countries. if you want to make a merger, you have to create value for shareholders. exploitssible to synergies. sharea2 $.5 billion trying to prove -- reverse its stock slump. the bank is bouncing away from annual dividend increases. a 10% return on equity's. the bank says quarterly profits -- the prospects of a recession in the u.k.. mexico is making a big push to reduce air pollution. company will auction it billion dollar bonds for energy process. a drivingy propose ban and forced factories to oppose product

look at what'sl moving at ahead of the open and abigail doolittle is in nasdaq and mark barton is inrisk stabilizing but not risk off? if you look at the average forecast of the s&p 500, it's above for the first time since 2014. usually strategists tend to be more optimistic. looking at aig, the shares are moving higher after the company reported earnings and announced a $3 billion buyback funded by the asset sales they have been doing. second quarter operating profit came in ahead of analyst estimates. all of that is helping propel those shares higher this morning. time warner is reporting its numbers. theings a side although numbers beat estimates and they raise their forecast, the companies buying 10% of hulu so joining a lot of other investors in that company. sales of the turner unit are up 6% and hbo sales are up 2%. fiat chrysler is rising on an interesting story. samsung is said to be in talks for a potential by of part or all of the company. it could be a $3 billion acquisition and it would be the largest samsung buy outside korea. the fiat chrysler shares are higher. let's

and now mark barton joins us. euroe looking at the stocks.he lotde in europe, but not a of conviction, similar to the u.s. >> you said it. aheadtwiddling our thumbs of the big one in jackson hole. on the stock 600. chart. the can these are the 19 industry groups. higher. i'll tell you why in a second. monthly moveverage in europe's v stocks index. is the movement of the index itself, purple is each month, average monthly performance. as you can see right now we're at the lowest since march 2015. volatility as we await yellow on friday. w.p.p., the world's big ad company. biggest slice since 2011. the shares today hitting a record high. big rise in first top earnings up by 15%. by 12%.lf revenue up brexit hoping the currency company got and the a boost ahead of euro 2016. england didn't do well in that tournament. getting back to the basic materials companies, looking at glen core, shares down by 5%. you know the commodity trader, today, 66% down in the first half. you know why. prices.mmodity on the plus side, net debt declining to $23.5 bill

mark: i'm mark barton. this is "bloomberg markets." cover stories out of washington and berlin. kansas city fed president ester says it is time to move again on rates. she says with the u.s. labor market nearing full employment and inflation on the rise, we should be on a path toward normalization. pimco gives a bloomberg a first look at it new global credit report. marc gasol will tell us how investors can still sick returns of 3% to 6% in the credit markets despite unconventional central-bank policy. find out where you should put your money. after touting profitability in the u.s. earlier this year, uber it

rk: i am mark barton and this is "bloomberg markets on bloomberg television. ♪ vonnie: we are going toer stories at a japan in the next hour. here's what we are watching. all took was a few words from opec to encourage oil from climbing higher after its biggest weekly gain since april. they will revise formal talks to state was prices. -- stabilize prices. mark: the first numbers from post brexit british economy coming this week. speculators are most bearish on sterling since records began. vonnie: a week after donald trump unveils his economic plan, we sat down with trump economic advisor tom barrack. and exclusive take on a new protective t