david: we turn to mark crumpton. as we have been reporting, jurors in the paul manafort fraud trial may be closer to a verdict. the panel asked a judge -- the judge what they should do if they cannot agree in one of the 18 counts. the jury is in its fourth day of deliberations. prosecutors say manafort hid tens of millions of foreign income from ukraine. they also say he lied on loan applications to obtain millions more to maintain a lavish lifestyle. is trump administration launching another assault on the obama climate legacy. officials unveiled a plan to weaken limits on coal fire plants. it would give states the latitude to set their own requirements. the treasury department says russia's conduct deserves a from response lign conductmaig deserves a strong response. pope francis will meet with victims of sexual abuse during his visit to ireland this weekend. it's the first time the vatican has confirmed a meeting with victims ahead of time. the pope is under enormous pressure to speak out strongly against abuse giv

i am mark crumpton. this is bloomberg. i am mark crumpton. this is bloomberg. >> live from bloomberg world headquarters in new york, i'm caroline hyde. joe: i am joe weisenthal. >> stocks near's hot death of the session. the nasdaq again at record highs. joke own russian is what did you miss? caroline: canada could be a party of one. insident trump says he was i new trade accord with mexico. elon musk takes a sharp left turn and wants to keep become a public less than three weeks after tweeting that something is to take it private. brazil's markets bracing. gaining in the polls but instead, a return for his party. what did you miss? the united states and mexico have reached a tentative deal to form a trade agreement. canada will join talks tomorrow. the canadian minister says freeland is flying to the p or for more, let's welcome our latin american reporter. we just had headlines talking about how the u.s. and met so's progress is a good thing according to canada. how's it -- how is it a good thing according to mexico? >> mexican negotiating

i am mark crumpton. this is bloomberg.id: thanks. .he battle continues maybe getting better for democrats to retake the house spirit one thing that could determine the results, currently be -- currently represented, we welcome back now. welcome back. good to have you here. the point of view from the seventh district. what will make the difference come november? >> i think they are hard -- highly intelligent. i'm a moderate conservative. >> he is not always seen as a centrist. the run with him, what do you do? >> i indicate where i disagreed and where i agree. i think we are doing a better job fighting isis. i give the administration credit in that regard. but i did not vote for the health care or tax bill. i signed a huge petition regarding the immigration issue. constituents i serve want someone who governs from the center. i believe those are my views. >> one of those issues going against tax cuts is an issue the gop wants to play up in terms of being one of the reasons for a solid economy. if you voted against the tax c

caroline: here is mark crumpton. a watchdog says the trump administration needs to step up management for the sign-up. periods under the health care law. the government accountability office found problems with consumer counseling and advertising, and recommend a basic things such as setting and roman targets. it did credit and meditation actions that did help the people in role, such as a more reliable website and reduced call-center wait times. and a former governor contractor who pleaded guilty to mailing a classified u.s. report to a news organization was sentenced to more than five years in prison today. reality winner, who worked at the national security agency's office, admitted printing the report and leaving the building with it in her clothing. it is the longest sentence ever imposed for a federal crime involving leaks to the media. and education secretary betsy devos is considering allowing states to use federal grant money to buy guns first goals, that would reverse a -- for schools, that would reverse an

now we go to mark crumpton for first word news. rk: president trump says he will be terminating the north american free trade agreement. the president said today that it will be a trade deal between the u.s. and mexico, but it is not certain whether candidate will be a part of the new three nation agreement packed. canada -- pact. canada has been on the sidelines while the u.s. and mexico have worked out their differences. the president said he wanted a deal with mexico first. highest courthe today in the 90 nations to try to have u.s. sanctions lifted. decision tothe reimpose them naked economic aggression. iran as the world court to suspend the sanctions immediately. iran says the sanctions violate the 1955 agreement between the two countries. french president macron says that the u.s. seems to be turning its back on its common history with europe, as the continent can no longer count solely on america to provide security. macron announced a new push today for european defense projects. and the united nations investigators say tha

let's get a check on the first word news with mark crumpton. mark: thank you.return to court to testify about how he helped his former boss, paul manafort, conceal millions into fraud brinks to get lows. -- banks to get loans. he said he kept his name off foreign accounts to receive payments for consulting work in ukraine. manafort's's lawyer says gates is at fault for any wrongdoing that occurred at the men's global political consulting firm. president trump national security adviser says renewed u.s. sanctions against iran are meant to pressure the government into a broad retreat from its support for international terrorism, its military activity in the middle east, and its holistic missile and it clear programs. -- and nuclear programs or john bolton was asked if he have concerns that countries like china and india might employ a strategy to make u.s. sanctions lost effective. >> no, actually we are working with all countries to reduce oil imports from iran. we are making progress. we think these sanctions are biting already and will continue to bite and cau

david: we turn now to mark crumpton for bloomberg first word news erie of mark: chris conger -- chrisollins has been .ndicted for insider trading he served on the board of the australian biotech company. his son and the father of his son's fiancee are being charged. saying that the republican lawmaker will be completely vindicated, paul ryan says that collins will be removed from the energy and commerce committee. the senate intelligence committee has called on julian what they testify at call a view agreeable location according to a tweet from wikileaks. the committee is investigating russian meddling in the 2000 in election. the wikileaks legal team says they are considering the offer. up for six hold years. the italian prime minister said today that his company -- his country is willing to consider a more rigorous stance towards iran and he revealed that he asked president trump to share intelligence about their alleged nuclear program and in the wake of fresh u.s. sanctions they would look to coordinate with european union partners on any similar actions. global news 24 hours per

let's get the first word news with mark crumpton. onal economic council director larry kudlow says president trump will keep on the as chinaon china continues the tariff escalation anotherncing retaliatory action against u.s. goods. kudlow spoke with bloomberg television about the possibility of one-on-one talks between the u.s. and china. >> if the opportunity presents itself, i don't want to speak for the president or get ahead of him on this tricky question, but if the past is any prologue to the future, president trump enjoys bilateral discussion. beijing plans to levy duties ranging from 5% to 25% on about $60 billion of u.s. imports. french president emmanuel macron met with british prime minister theresa may at his vacation residence in the french riviera to discuss brexit. the major sticking point in negotiations is how to guarantee the border between ireland and northern ireland remains open after brexit? u.k. officials say in private, they are working on a new plan. may strip comes amid tensions between britain and the eu ov

let's get to first word news with mark crumpton. retary steven mnuchin says he believes the trade deal with mexico will be "the first of many agreements he will see." speaking to reporters outside the white house, secretary mnuchin also said he is optimistic that canada will come on board. >> this is a complicated agreement. there are lots of things in here that are all new. i would think that canada would be on board with stronger intellectual property, stronger protections, modernizing the agreements. i am hopeful the open issues with canada can be resolved quickly. mark: canada's foreign minister cut short a diplomatic triptych europe to head to washington for more talks. in other news, hassan romney failed to convince parliament that the plans will pull the country out of an economic nosedive. time in its second history, the parliament ordered a sitting president to appear before it to answer questions. while the president warned that "painting a bleak picture of people's lives will lead to further darkness" lawmakers voted for t

here's mark crumpton. mark: china is poised to strike back at the u.s.trade is the trump assertion goes ahead with plans to impose tariffs on another $200 billion of chinese products. beijing will retaliate with a sliding scale of duties on $60 billion of american goods. the hardest hit will be meet, we eat -- meat, wheat, wine, and natural gas. the u.s. was to keep pressure on north korea and iran. iran just signed a friendship pact with the alliance. bank of england governor mark carney has jumped back into the brexit debate. the central bank chief told the bbc the chance of the u.k. dropping out of the european union without a deal is "uncomfortably high." that indicates carney is more worried that prime minister theresa may won't be able to get a deal that would prevent disruption to businesses and consumers. global health officials aren't sure whether an experimental vaccine will be effective in the latest outbreak of people a in congress -- of ebola in congo. they have 3000 vaccine doses ready to go in congo's capital and can get up to 300,000 more

let's get to first word news with mark crumpton. guments scheduled to begin tomorrow morning in the trial of former trump campaign chairman, paul manafort. attorneys for manafort rested case without calling witnesses or presenting evidence. asked by the judge whether he wished to testify in his own defense, manafort responded "no, sir." manafort is accused of frothing bakes to secure loans and -- bankoverseas banks accounts and income from federal tax authorities. defense secretary james mattis made a pitch today to brazil for building a closer defense partnership with the united states. secretary mattis addressed students at brazil's senior war college in rio de janeiro. thinkingited states is long-term at in america. recognizes its success in the security of future generations depends on how well we together build trust at every level with our western hemisphere allies and our partners today. we look to the future, we want to build our trusted today. mark: secretary mattis emphasized u.s. interest in partnering with brazil in space

i'm mark crumpton. this is bloomberg. julie: thank you, mark.et's turn to a major executive who has been involved in many deals including t-mobile's merger with sprint. ed hammond joins us from sprint headquarters in overland park kansas with an exclusive interview. ed: thank you, julie. i'm here today with marcelo claure, the coo of softbank and chairman of sprint. it has been a busy week for softbank. they have announced the sale of flip card. they have invested in alibaba's delivery business. they are also rumored to be looking at the ipo of their japanese mobile unit. that would be somewhere in $19 billion. they have also invented -- invested in the pizza market. lastly, you had your sixth hit. congratulations. a very busy week. makes the question, which you must think about a lot, which is this, what exactly is softbank? marcelo: this week, it has been an important week for me. i am a happy father of my six kids. it has been a very happy week. from a softbank perspective, every week is busy. you have the world's largest technology fund comm

let's get the first word news with mark crumpton. ay issued a letter around the world condemning priestly sexual abuse and its cover-up. it reads in part, "we showed no care for the little ones. we abandoned them. it was the second vatican response in recent days to a grand jury report about clergy who raped and molested children for decades. >> it is significant that hope calls abuse a crime and not just a sin but he acknowledges at the no effort to repair the damage done will ever be sufficient for victims and survivors. mark: the three-page letter also toes ahead of is's trip ireland where the roman catholic church's's credibility has than by years of revelations that priests raped and molested children and their superiors covered up for them. in london, crashing outside parliament last week, appeared in court. murder --t accused of he is a british citizen who came from sudan. he didn't apply for bail and the court ordered him to remain in custody. to consider filing a fleet of -- by reason of insanity. jarrett pleaded not guilty i

i am mark crumpton. this is bloomberg. joe: "what'd you miss?"eo gave a lengthy interview to the new york times highlighting the demands of running the company and shedding a light on circumstances surrounding his tweet last week. he is announcing taking tesla private. since their stocks -- the stocks went spiraling. bring in -- we bring in david welsh to talk about this. what about this interview alarmed investors so much? >> when a company is in crisis and they have been since he put out this tweet, the ceo usually does a big interview with bloomberg or somebody like that to clear the air. they have to say they have the hands -- their hands on the problem and will get things fixed. this did the opposite. he tweeted he wanted to take the company private on the way to the airport. not a lot of thought and communication which sheds light on that the funding is not set in stone. he does not have the money lined up as he indicated when he tweeted that out. problems to -- problem number he said he needs is someone else to help him run the company bec

i am mark crumpton. this is bloomberg.et: we got jobs data today which can only mean one day, fantastic [indiscernible] reporting --omy reporter, let's start with this mystery wrapped in an enigma, wrapped in a paradox. a mysterious increase in the prime working age labor supply. matt: we have been talking about this, but the big story over the last several years has been low unemployment, wage growth has not been increasing and we have been getting big job creation numbers month after month. everyone thought when unemployment got this low we would seek smaller job creation numbers because we have used up the pool of available labor. something interesting is all of these people who were outside the labor force and claimed they didn't want jobs are coming back in. yellow line shows. that is the percentage of people of prime working age between 25 and 54 outside the labor market and say they don't want a job. you see that line coming down, that is where the outrage is coming from. the blue line is women. it has been responsi

i'm mark crumpton. this is bloomberg. love from bloomberg world i'm joeters, weisenthal, i'm scarlet fu, i'm caroline hyde. the s&p 500 -- 9/11 sectors are in the red. what'd you miss? president trump says the market will crash if he were to be impeached. crypto enthusiasts will have to wait even longer for bitcoin etf's. overec gives a red light concerns of market manipulation. >> trump tells wall street you'll miss me when i am gone. that the market would crash if he were impeached. democrats -- what an impeachment really way or would it be shut off? your piece says we are not back in the 70's. >> in the 70's, we had a number of horrible macroeconomic events. we had the unwinding of the bretton woods agreement of fixed exchange rates hit its stride in 1974. the s&p was down 26% and 74. a very different backed up what we had today. >> on the question of impeachment specifically, setting aside whether it is going to happen or whether it is a good idea or bad idea, if suddenly democrats take the , what doesovember history

mark crumpton has first word news. mark: paul manafort's trial resuming today in virginia.hey will offer witnesses for two more days and focus on the nine bank fraud counts against the former chairman. accused of securing more than $20 million in loans in american banks, in addition of tax fraud against him. newia is complaining the round of u.s. sanctions are not in line with the constructive atmosphere at the helsinki summit. the kremlin is threatening to retaliate. u.s. is imposing the sanctions to punish president putin's government for an attack on a former spy and daughter in the u.k. no deal is imminent. mexico's economy minister says there is reason for optimism. >> we are coming into new meetings with a lot of work done through the night, and reviewing if we are solving some of the main issues. give our commitment to the solutions required. mark: canada is expected to rejoin talks once the u.s. and mexican negotiators wrap up their deal on cars. argentina's senate has rejected a bill to legalize elective abortion. lawmakers debated for more than 15 hours yesterday

let's turn to the first word news with mark crumpton. evoking security clearance with john brennan who served in the obama administration. sarah huckabee sanders cited brennan's erratic conduct and behavior and accused him of first.nd wild out the move comes after mr. brennan slams the president on twitter yesterday for calling his former aide a low life and a dog. writing, itwitter is astounding how often you fail to live up to minimum standards civility, seems like you will never understand what it means to be president nor what it takes to be a good and decent and honest person. a lawyer for paul manafort is working to reduce the former campaign chairman's culpability in any crimes. he told jurors during closing arguments today that manafort always worked with a team unless the particulars of his finances to other people. him to returnked a guilty verdict on all 18 counts against manafort. he is on trial for tax and bank fraud. a lawyer for paul manafort is workingthe time officials have d a state of emergency after yesterday's highway

i am mark crumpton. this is bloomberg. i mark crumpton. this is bloomberg. i>> live, i am lisa abramowicz. we are 30 mins from the close of trading. prices and contagion. a fresh record low against the u.s. dollar even asked -- after the nation propped up the financial system. elon musk reveals saudi arabia was interested in helping tape -- take tesla private as far back as 2016. it might because economic pain. why stock buybacks could be benefiting shareholders at the cost of long-term productivity. turkey is pushed to the brink. on friday, president trump added on with additional -- steel and aluminum. he threatened over the weekend to find new friends and allies. -- that he doesn't see a role for interest rates, that the exchange rate in the u.s. dollar is going to go back on a level of his own, and turkey is under siege coming from abroad. turkish assets to sell off. additional liquidity, staying away from interest rates hikes. it has been interesting to watch shoppers. they are able to lock in great deals but the fundamental question. how this will tric

i am mark crumpton. this is bloomberg. lisa: "what'd you miss?" emerging markets on the rocks. s. high-yield is overvalued. still with us is mark kiesel pimco chief investment officer. bonds withhigh-yield escalating valuations and emerging markets continues to selloff. we have a chart that shows how you are earning the least extra bondsm to own u.s. i your over emerging-market corporate's that have a higher rating. since 2005. does this bonds mean it is time to sell u.s. junk and go into emerging markets? mark: we certainly would agree with reducing u.s. high-yield here. as we talked earlier, we are in the later cycle of the u.s. expansion. we will probably have a recession in the next three to five years. we think high-yield, ridiculously the risk that is part of high-yield, the triple c segments, has run its course. we would be reducing that. we like some of the highest quality high-yield areas, the double these particularly in the housing related sectors. in terms of where to rotate -- , particularly in the housing related sectors. in terms of where to rotate, higher u.s. in

let's get the first word news with mark crumpton. federal employees will not get a rate next your. president trump said he writes will be set at 0% for 2019. he said the budget cannot sustain such increases. a 2.1% across-the-board pay raise was expendable -- scheduled to go into effect in january. saying his hands were tied by the law, a federal touch -- a federal judge ruled that the government can and a federal housing program for hurricane maria evacuees. they have been living after fleeing -- in the u.s. after fleeing the island last year. the judge regretted his decision, but said he cannot to keepe government doing something that "in a humanitarian and caring world, should be done." cases of cholera were reported in yemen since mid-august, and the pace is increasing. a human rights spokesperson called it the worst outbreak on record. there have been over one million affected cases and 2300 deaths. the first of two services for the late senator john mccain is underway in phoenix, arizona. vice president joe biden is among the s

i'm mark crumpton. this is bloomberg. lisa: thank you so much, mark. on thet gtv go bloomberg.here you will find all the exciting chart to see on tv. you can click on them, check up on key analysis and save charts for future reference. if you want to understand how much of a departure it is that the federal reserve is raising interest rates right now after years and years of 0% interest rates come you can check this out. is emerging from the bank of england and ecb. plenty more here having to do apple region $1 trillion. this is bloomberg. ♪ ♪ scarlet: this is "bloomberg markets." i'm scarlet fu. lisa: i am lisa abramowicz. time for the sector spdr report. >> we're looking at the x ok, the technology select spdr etf. up more than 1%. the best performing on the s&p 500. also tech heavy nasdaq. we have seen the turnaround for the sector. seven-day chart of the s&p 500 technology index. we saw the sector fall off a cliff last week. that is when facebook earnings came in softer than expected. the tech and excel into the next three days and has been recovering for the last three. bu

i am mark crumpton. this is bloomberg. ♪ caroline: from bloomberg world headquarters in new york, i'm caroline hyde. scarlet: we are 30 minutes from the u.s. the five-day winning streak stalling with the fed and focus following 24 hours of legal drama for the president. joe: the western is what did you miss? caroline: the fed is ready to raise interest rates again if the economy stays on track. a strategic change in the pipeline for a company to hold off on you focus on acquisition of -- giant. and fan appeal wants to be the google of cannabis. a sizable cash pot. scarlet: the federal reserve releasing minutes from a policy meeting under scoring concerns for trade war and intentions for the rate hike path. jay powell, the fed chair, will deliver an address on friday at the central bank's annual policy symposium in wyoming. let's welcome the bloomberg opinion columnist dan. with regard to fed minutes, -- a all systems go for quarter-point in september, likely a quarter-point in december, possibly one more

here is mark crumpton. ed nations sends says 134 people were killed over the weekend in northern syria. a spokesperson said today at least 59 civilians, including 17 children, were killed when it weapons and ammunition depot exploded in a residential building. the syrian government has been sending reinforcements to the northern part of the country, ahead of an expected assault on the province, the last major rebel stronghold. and defense secretary jim mattis has held talks in brazil with the foreign minister in that country. brazil is the first stop for general mattis, whose trip to south america will also take into argentina, colombia and chile. after visiting brazil, he will be in argentina to discuss defense issues of mutual interest. more than one million people impacted by monsoon rains in the philippines. at least six people killed, hundreds of thousands forced from their homes, due to flooding around the capital. the president was scheduled to do an aerial inspection today of flooded areas, but offic

we turn to mark crumpton. senator john mccain's family said he has decided to stop receiving treatment for brain cancer. he was diagnosed in july 2017. the illness has kept him away from the senate this year. saidstatement, the family he has beaten expectations for the survival but " progression of disease and the inexorable age has rendered a verdict." according to the wall street journal, the trump organization ceo -- cfo allen weisselberg was granted immunity for providing information in the hush money case involving michael cohen and the president. allen weisselberg has worked for him for decades. australia's new prime minister promised a stable government at the amd of a tumultuous week when his predecessor was forced out of office in a swift interparty political crew -- coup. parliament was shut down for an afternoon. >> my plan for this country is for an even stronger australia. to get our economy strong, to guarantee the essentials that australians rely on. to keep australian safe from terrorism and all

i'm mark crumpton, this is bloomberg. >> live from bloomberg us world headquarters in new york -- bloomberg's world headquarters minutesork, we are 30 from the close of trading. u.s. stocks higher today, halting the longest slide into march, the dollar at its highest june 17. joe: the question is "what'd you miss?" scarlet: president erdogan calls for a boycott of iphones. argentina on the other side of the coin, shoring up the battered payphone. plus the labor market prison penalty, a simple check docs on job applications could be contributing to great depression era unemployment among formerly incarcerated people. allies in name only, the standoff between the u.s. and turkey had been intensifying as u.s. officials insisted they would accept nothing less than the released of a detained american pastor. in a staunch message to the turkish ambassador, john bolton made it clear that there was no room to negotiate. still, he countered with a message to the turkish people and president trump. >> a series of speeches defined t

i am mark crumpton. this is bloomberg. ♪ lisa: five, and lisa abramowicz in response to what he called in response to what he called america's attacks on the economy, turkey announced tariffs -- chronicling $1 billion worth of u.s. goods. -- chronicling $1 billion worth of u.s. goods. so far, it succeeded in lifting off of record lows. here with more insight is the senior fellow on foreign relations. thank you for joining us. it little bit of a retrieve. two days in a row of gains. to be done still to really stem the bleeding and really bring about stability? >> one thing that will ultimately stabilize turkey is a weaker lira. in that sense, part of the adjusters needed has already taken place. other things that are needed are policy support for the needed adjustment and the needed adjustment is thatally a domestic demand can come through restricting bank lending, through higher interest rates, which would have the effect of bank lending, and fiscal policy. >> the reduction in domestic demand is all abou

i am mark crumpton. this is bloomberg. ♪ >> live from bloomberg world headquarters, i'm shery anh. >> and live in toronto, i'm amanda laying. -- amanda lang. shery: here at the top stories we are following from around the world. says it willis keep tightening to the screws on canada for criticizing the recent arrest of women's rights for yet prime minister trudeau to speak at 2:30 p.m. can you on musk tweet that? opinions on how long the tesla his wanting to take tesla private. tariffs on $15 billion worth of goods later this month. let's get a star of a quick check on the major averages. a littleks retreating bit, the dow is down 2/10 of 1%. the s&p 500 is unchanged after gaining for the past or sessions. we do have some gains in americap. trade tensions are running high between china and the u.s. the 10-year yield is at 2.9 6%. it is losing a little bit of ground but we saw the largest auction of tenure treasuries we saw the largest auction of tenure treasuries ever. >> the u.s. and the mexico car deal

i am mark crumpton. this is bloomberg. ♪ >> live from bloomberg's world headquarters in new york, i'm taylor riggs. scarlet: i am scarlet fu. >> i'm in for joe weisenthal. >> 30 minute's from the u.s.. >> the question is what did you miss? >> shares of tesla, stock halted after elon musk tweeted he is considering tweet -- taking the , plus, a final decision has not yet been made. trouble remains over turkish assets. their president remains silent as they plummet to record lows. and, merger on the mind for disney investors, the media company set to report currently -- quarterly earnings after the bell. watching for any details of its acquisition of 21st century fox assets. what did you miss? --n musk trolling tesco tesla short centers, teasing the possibility of taking the company private at 400 12 -- $420 per share. he said funding secured. this comes after a report from the new york times at the sovereign fund has a massive stake worth as much as $2.9 billion. that report sent shares soaring before they

let's get a check of first word news now with mark crumpton. ent trump says he will be terminating the north american trading that free trade agreement as he pursues -- free trade agreement as he pursues a deal with mexico. >> they used to call it nafta, we will call the united states-mexico trade agreement, we will get rid of nafta, that is a bad connotation because the u.s. was a served badly by nafta for many years. now it is a really good deal for both countries. mark: the president made the comments after announcing what he called an understanding with mexico could -- that could lead to an overhaul of the trade pact. he called it a "job killing disaster." iran went to the united nation'' highest court to have u.s. sections lifted, calling the decision to reimpose the sanctions naked economic aggression. iran as the world court to suspend sanctions immediately. a court case is being considered. iran says this engines violate in 1955 agreement between the two countries. and authorities in jacksonville say that the gunman at a shooting at a vi

i am mark crumpton. this is bloomberg. shery: mark, thank you. cardio.the gas on a the u.s.o are wrapping up the third week of talks. canada will be joined the negotiations once the bilateral talks between the u.s. and mexico conclude. for more, let's welcome a bloomberg news reported. we're hearing from the minister that the talks could continue into next week. how far are we from a breakthrough? to thear, according economy minister, there actually is a lot of work that has already been done in these three weeks in d.c. there is optimism that the agreement come whatever it ends up being, is quite far a lot, and as you said, the issues on the minimum wage. what percentage of a car being made when it is imported to the u.s. is made from higher wage labor -- in other words, that would limit the need for companies to go to mexico to create these automobiles. this is something being discussed right now and as you said, talks are going to continue. once i have the issue figured out -- once as they have not even mentioned canada, who are not in the talks right now, but hopefully t

i am mark crumpton. this is bloomberg. caroline: thanks, mark.ing up, one voter vows to curve --hange the euro yield curve. that's next. this is bloomberg. ♪ is bloomberg. ♪ >> i'm live in jackson wyoming where the symposium is underway. joining me now is raphael bostic. he's the president of the federal reserve. you have the private -- prime spot this morning. everyone else was cold. >> the definitely froze my hands off. >> let's start with the chairman's speech. he was right down the middle. some people want us to raise faster and some slower. i vote for let's be cautious, risk management, slow, gradual pace of increase. there youn their -- disagree with? >> his speech near exactly my lines. half the people are saying you need to slow down and the other half is saying we are about to overheat, speedup of it. we get pulled in all different directions. for me, it has been helpful to say everyone has their view and perspective and i have to bring it all together. on balance, the slow, steady, taking action and see how the markets respond approach

i'm mark crumpton, this is bloomberg. >> proxy wars.esident trump loyalists will face off against a bernie sanders liberal alternative in the governor's race for florida. of the starkest contrast in the country between two very different ideologies. our guest is managing editor for crystal ball. this seems to be one of the starkest contrast we have seen. >> it is interesting in that a lot of thengton, consultant class on the democratic and republican side are both upset about the candidates they got in this race because the professional republican crowd would have preferred and putnam. they would have preferred him to win the race. donald trump made it clear that he wanted to santos to be the lead. on the other side, gwen graham , moreughter of bob graham of a centrist candidate, democrats wanted her to be the nominee and they ended up getting andrew gillum. indra gillam winning was a surprise. that sense of a contrast of far left liberal democrat, far right inservative republican probably the most important governors race in the countr

i'm mark crumpton. this is bloomberg. scarlet: breaking news. update you on what mark was telling you, there are more headlines in the u.s. with sanctions on russia. the u.s. is said to plan additional sanctions if demand or not met. the u.s. is seeking russian asserts is -- assurances on no more chemical weapon usage. without adherence or compliance from russia, the u.s. is said to plan additional sanctions if those demands are not met. we will keep you posted on developments. we saw the ruble tumble after the first headline that the u.s. would sanction russia over the nerve agent attack on next spy in the u.k. -- ex-spy in the u.k.. romaine: all of this coming out of the state department, right? scarlet: yes. the original statement coming out of the state department and the president is on vacation. romaine: it will be interesting to see him react directly. julie: i wanted to mention a couple of earnings report quickly. roku is out with its first numbers. that company's revenue is beating estimates. it is breaking even on a share basis. that i

i am mark crumpton. this is bloomberg.e: breaking news now on paul manafort and the retrial. they were 10 counts he is being retried for. the u.s. attorneys have asked for more time to decide on the paul manafort retrial on 10 counts. it was last week that he was convicted of eight counts on tax and bank fraud. they discussed by the jury in alexandria, virginia, and failed to return berdych suntan of the counts -- failed to reach verdicts on 10 of the accounts. lisa: "what'd you miss?" argentina's president is trying to calm markets. caroline: today he's asking the imf for early release of funds for the $50 billion in my financing deal. the argentine ian pazo continues it slide, falling for the eighth day in a row. formerjoined by the senior economist at the imf. you said this request is a positive element. why do we see a continued selloff in the peso? >> it is a positive development. this is the best they could hope for. to maintainted monetary stance and are asking the imf to frontload the disbursements. they have to ho

i'm mark crumpton.s is bloomberg. ♪ : a crisis in turkey is stoking speculation over extreme steps and even a possible bailout from the imf. the turkish 10-year yield has jumped to an all-time high. the lira fell to record lows yesterday before rebounding. turkish officials are heading to the u.s. to discuss the ongoing tensions. be asanctions continue to threat to the economy and is meant by radio silence by present and one. -- by president erdogan. given what is happening in turkey's market and the broader economy,, does turkey risk -- how muchits hand does turkey risk overplaying its hand? >> there are many outstanding issues, including turkey's decision to purchase a russian defense system and the looming iran sanctions will be critical and mike deal -- and might deal another blow. president trump and vice president pence have been interested in the release of a u.s. pastor who has been detained in turkey since 2016 on trumped up terrorism charges. turkey wanted to receive concessions from the u.s.

we turn now to mark crumpton. mark: jurors have begun deliberating.rosecutor state manafort earned dixie million dollars at rising russian backed politicians in ukraine and hid much of this from the irs and lied to banks to get loans. manafort's defense counted -- countered he wasn't coupled role because he left the particulars to others. the highway company responsible for the italian bridge that collapsed is promising to take rigorous action if it is determined it was in any way responsible for the fatal accident. the company says it is cooperating with the investigation and conducting its own internal probe into the accident that killed at least 38 people. bemany as 28 others may trapped. in afghanistan, the islamic state has claimed responsibility for a suicide attack killed or than 30 students. most of the victims were young men and women studying for university entrance exams. funeral arrangements will be announced in the coming days for aretha franklin who died today. the cause of death was advanced pancreatic cancer. her dominance of the music

. ♪ mark: i am mark crumpton with first word news.enate today unanimously approved a resolution affirming the press is not the enemy of the people. the resolution offered by a democrat of polite drew on the words of thomas jefferson, james madison, and ronald reagan among others to champion the role of the fee -- free press which is " integral to the democratic foundations of the united states." newspapers across the country are pushing back against president trump's attacks on big news with a coordinated series of editorials speaking up for free and vigorous press. steve mnuchin said additional u.s. think and already, but turkey refuses to release an american pastor. the trump administration says he is even legal be detained -- illegally detained. the president says it is a terrible thing that the turkish government continues to hold the pastor. for chargesal u.s.ed to a failed 2016 government attempt -- to attempt. a thorough review of the bigs is -- bigs on pipelines raising further delays. critics have raised concerns about spills

i am mark crumpton. this is bloomberg.red: midterm elections just over 80 days away and with the big battle between whether the democrats can retake the house, for a view from one of the meeting democratic ,trategist, welcome guy cecil he worked on hillary clinton's 2008 campaign and chairman of priorities usa. a very large super pac. he joins us from washington. guy: thank you for having me. projection 75% likelihood the house will take the house and larry sabado moving in that direction with more seats going in that direction. where do you put it? >> i am optimistic about our chances and do not only look at projections in november but look at the midterm and off year elections that of happen so far. we see significant increases in democratic participation. just looking at the ohio special election, democrats narrowly lost, there were 70 congressional districts that were more democratic than that district. we have put a lot of seats in play and i'm optimistic we can take back the majority in november. david: how do you fi

news get the first word with mark crumpton. mark: the u.n.told reporters he is concerned about attacks on the media and journalists. he alluded to the upcoming election campaigning nearing the midterms in the u.s.. horrifiedus would you theyot shocked if we heard were beaten at one of the rallies. the president would bear responsibility. we are approaching something like that. mark: he expressed concerns about rising nationalism in europe and said he urged his successor to be outspoken when she abuses around the world. the white house counsel is stepping down. president trump says he will leave in the fall after the senate confirmation vote on brett kavanaugh. he has cooperated extensively with robert mueller's rush investigation. interviewed atn least three times. the new veterans affairs secretary pledging he will not privatize health care services. promisedlke also better customer service as a result of the overall ill president trump recently signed. that was in response to the long waits for a ointment and short staffing that plagued v.a

david: we turn to mark crumpton for first word news. michael cohen's attorney says the trump organization initiated the idea of paying off stormy daniels and karen mcdougal to keep them quiet about their claims of having a relationship with president trump. >> strong evidence, i think it is conclusive, but let's agree it is strong, the donald trump was that michael cohen going to be advancing money on his behalf to hush up the relationships with these women, and had a political purpose. davis says cohen has information of interest to robert dollar and says his client is not looking for a presidential pardon. nancy pelosi says increasing -- impeaching the president is "not a priority" for democrats. pelosi tells the associated press that "impeachment has to spring from something else." are now in nonstop mode, negotiations continue in brussels between the u.k. and european union in its attempt to avoid a no deal brexit. michel barnier said the two sides can find common ground, but the u.k. will need to respect the single market. they are

mark: i am mark crumpton with first word news.he grandfather of a missing georgia boy said today the child's remains were found buried at a desert compound in new mexico months after his mother reported he disappeared with his father who said he wanted to perform an exorcism on the child. documents, -- in court documents, a father was arrested as he was training youngsters to commit school shooters. they say the suspect was conducting weapons training with assault rifles at the compound near the colorado border which was rated by authorities on friday. puerto rico has conceded hurricane maria killed more than 1400 people last year. the local government has previously reported an official death toll of 64. the higher number was revealed submitted to congress this week. the report also details a $139 million reconstruction plan for the island. saysngton, d.c.'s mayor the nation's capital is ready to rally it hasa received a permit for this weekend in washington. the mayor says she has activated the city emergency operations center.

david: we go now to mark crumpton. mark: the u.k.g a no deal brexit would raise prices for european goods and make life difficult for retirees. brexit secretary dominic raab posted 25 notes on how the country should prepare for the possibility of talks with the eu collapsing. problem, british retirees living in eu countries could lose access to their u.k. bank accounts. a former government contractor who pleaded guilty to mailing a classified u.s. report to a news organization was sentenced today to more than five years in prison. reality winner, who worked at the national security agency's office in augusta, admitted to printing the report and leaving with it in her clothing. education secretary betsy devos is reportedly considering allowing states to use federal grant money to buy guns for schools. e at would revers long-standing policy of the federal government. in march, congress passed a school safety bill that allocated $50 million a year to local school districts but expressly prohibited the use of the money for firearms. heav

i'm mark crumpton.s is bloomberg. ♪ david: still ahead, voters in four states are headed to the post a. minnesota may prove to -- to the polls today. why minnesota may prove to be critical. this is bloomberg. ♪ ♪ shery: this is bloomberg markets balance of power. david: voters go to the polls across four states that i. had to give us a preview -- states today. here to give us a preview is anna. there are so many tossups both ways. anna: minnesota is interesting. that is where republicans could look for some pickups. the mood in the country is not favorable for republicans. democrats are over performing in primaries and special elections. they will be looking to be competitive in some of the tossup seats and tried to take on or two seats in minnesota. shery: what about wisconsin? it seems to be a tight race for paul ryan. anna: the first at district of wisconsin us -- for wisconsin is tight. since he announced his retirement earlier this year, to see less interest in that race. aidesbacking one of his fo

i'm mark crumpton. this is bloomberg.ublicans were united when it came to tax cuts, but trade is proving to be a more divisive issue in the party with republican lawmakers ticking issue with the president's tactics, and the koch -- we welcome notebooks person for the cap network best for the -- for the koch network james davis. let's start with what apparently provoked this tweet from the president. was it about trade from the koch network's point of view? overall in our engagement in public policy, we want to support individuals and candidates that remove barriers that can help people improve their lives. we've done a lot to support the white house and congress in tax reform and a regulatory reform, but when we look at trade, we believe it threatens to undermine the growth and economic opportunity that regularly reform and tax reform have -- regulatory reform and tax reform have provided for us. when we engaged in the north , we werenate debacle in supporting heidi heitkamp for trade. in fact, heidi heitkamp, we are not

let's get the first word news with mark crumpton. : president trump tells fox made toabout payments women by michael cohen. the president says that later ron i knew. he says the money came from him and not from campaign funds. in an interview to be aired tomorrow, the president says the payments do not violate campaign-finance laws. --hael: hinz attorney says michael cohen's attorney says the president knew he would be advancing money on his behalf. lanny davis spoke with bloomberg television. >> the trump organization was initiating the idea of paying off stormy daniels and karen mcdougal to keep them quiet. has -- russia probe. he says his client is not looking for a presidential pardon. trade talks between the u.s. and afterare getting underway being at a standstill since june. they are being conducted at a new -- at a low level, the treasury undersecretary and the chinese vice commerce minister. the next round of tariffs will be $16 billion of each nation's exports to the other, set to take effect tomorrow. watchdog group says the

i am mark crumpton. this is bloomberg. ♪ >> live from bloomberg world headquarters in new york, i am shery anh. >> welcome to bloomberg markets. we are joined by both audiences for you -- audiences. >> turkey turmoil, the lira plummets to new lows as president trump double tariffs. undermining expectations that the fed will raise rates next month. musk's spacex market hints towards a tesla buyout. >> the turmoil we are seeing to i -- seeing in turkey. the dow, s&p, and nasdaq seeing pressure. the s&p which was seeing momentum earlier in the week, they have now feted with the possibility of ending in the week in negative territory. the dow has seen some pressure, the worst performer being intel for at -- being intel. the jobs picture showing signs of life. the number of jobs reported in the recent data, triple what was expected and part-time jobs are big chart of that. you are looking at a chart for c we ces jobs -- talking about jobs, we had the data. andt could be undermining eating it to wage gains for

i'm mark crumpton. this is bloomberg. david: thank you.continue to wait for the jury to reach its verdict in the kumal trial of paul manafort, president trump's former campaign manager, even as the president's representatives continues to speak out on the investigation. don mcgahn interviewed for 30 hours this weekend. inwelcome back seth waxman washington, a criminal trial lawyer in the district of columbia. welcome back. seth: thank you for having the greatest david: as a former prosecutor, give us a window into how the prosecutors against paul manafort are feeling right now? is it surprising you it has been taking this long, given the 18 counts, and at what point would you get nervous? seth: it would not be surprising to me sitting on the outside looking in that we have gone through deliberations for a couple of days. as a prosecutor, you have convinced yourself that you have the evidence beyond a reasonable doubt. you have the documents and the emails. the bank records. so as the days where on, your heart sinks a little bit further eac

i'm mark crumpton, this is bloomberg. ernie's continues.ting adjusted eps of $1.05 missing even the lowest estimates compiled by our analysts here. dollar 21 was the consensus an immense. investment income dropped in the quarter because of lower returns on alternative investments. million recording $200 in nonoperating restrictions cost because of efficiency initiatives. the decline was interesting. lower returns on alternative investments from pe and hedge fund performance. julie: we're also looking at numbers from symantec. they are coming out with second-quarter earnings forecast low estimates. andmost, it looks to our $.35 a share and $.38 is what analysts had been anticipating. that accounts for the decline in the shares. this is even after the fiscal first-quarter numbers were slightly better than had been estimated. the second quarter revenue forecast looks to be short of estimates as well. that is weighing on those shares as well. the company has been undergoing an audit of its internal financials and internal investigations. it has

david: we turn onto mark crumpton for first word news. : canada remains optimistic on progress with the u.s. in the nafta talks. the country's foreign minister spoke with reporters in washington. chrystia freeland: we continue to be encouraged by the constructive atmosphere that i think both countries are bringing to the table. and there is a lot of goodwill. a lot we are trying to do. in a short amount of time, and we are working intensely. mark: the president says the two nations are on track to agree on how to revise the trade agreement by tomorrow. the president signaling that he knows who will succeed the white house counsel. on twitter this morning, he did not announce the successor, but said he was "very excited about the person who will be taking his place." he also said the russia investigation was not a factor in the departure of the counsel. he will leave this fall after the expected senate confirmation of brett kavanaugh. and backing asian-american students who are suing harvard over the school's affirmative action policies. th