matt miller in stuttgart. what are we watching? president trump is expected to kick off his campaign to overhaul u.s. tax policy in a big speech in missouri later today. will the markets be listening? as harvey hits again, traders are bracing for more shutdowns. how high will gasoline prices go in the united states? and talking of fuel, the diesel dilemma. no decision yet on offering a diesel version of the new cayenne suv. more throughout the show. matt miller, over to you. thanks very much. 30 minutes until the open of cash trading. i am in stuttgart at the porsche museum to give you more on the easel industry story which has been a massive one in germany. a big election issue just four weeks to go until germany votes

i am matt miller from the german capital of berlin at anna: checking on the futures than this morning holiday in the united kingdom. then i mention that, matt? .orking on a bank holiday we are expecting to get weakness coming through on the euro stoxx. stoxx 50 down. mixed,arkets pretty watching for the impact of hurricane harvey, pressing it in. it is really in the fx market that we seem to be seeing the jackson hole optimal. matt? matt: i am seeing some interesting arbitrage because of due to her can harvey. if you take of the crew trade, you see nymex it down. that is the west texas intermediate light sweet crude that is so important in houston. , brentbal rinse mark crude oil trading up tencent a barrel to $52.51. crudeering which kind of they move in and out of those pipelines. take a look at the dollar down. it is down against the pound, against the euro, but it especially -- but especially against the yen. also interesting because cronus comments. i want to take a look at gold. there.l seek gains looks like it is getting closer to that big round number. it has enclosed. anna: l

matt miller is in berlin. what are we watching this thursday morning? a business breakup. donald trump's business council this banded as ceos jump ship over his comments on race. van andcatch steve comments on china? the inflation puzzle. the fomc remains confused and divided over white prices, price rises are still up 2%. will jackson hole deliver any clarity? asking permission. president on's donald trump is the situation on the currents -- korean peninsula beginning to cool? matt: we have best is coming out with earnings, second-quarter euros.s 279 million missing the estimate by about 61 million euros, the street was

matt miller is in berlin. what are we watching? paris pushing integration. the british finance minister tells bloomberg the euro area unification should be accelerated regardless of who becomes the ecb president. 36 billion pound divorce suggests the u.k. is ready to pay up to break the deadlock in exit negotiations -- brexit negotiations with the eu. the payroll rally dissipates. the market is still underpricing until impulse. half hour away from the european open, take a look at the futures picture here across the board with the stoxx 50 showing a slight gain and the others across the board as well. yields are down right now. guy: let's talk about what is happening around the world.

i am matt cranny alongside matt miller in berlin. chairmanay y. lee, the who has offered bribes in favor of succession and is guilty of a perjury charge. he is sentenced to five years in prison. five years in prison on graft charges. that is the top line. for wyoming, yellen and groggy take the podium. kaplanson hole, robert defense inflation target saying it will be met. president trump will kick off the texaso overhaul next week. but how much can be achieved between a white house and congress? hurricane harvey since gasoline surging as it heads to texas. said to be the worst storm in more than a decade. we are less than half an

matt miller is in berlin. when we watching this thursday morning? the french billionaire patrick draghi is lighting up for a dead for the company charter. will they play ball? and we will talk about what it means for the credit markets. crumbling credibility. james bullard said failing to reach the fed inflation target is hurting its reputation. we will bring you our interview with the president. againstoins the stance risky positions. the question is, is dying down risk the right trade right now? matt: let's take a look right now, 30 minutes away from the european open where futures are trading, we had a reversal in asian markets, they recovered from the trump concerns and turned back down again. here we see futures, no change for european stocks.

i guy johnson and matt miller is in berlin. what are we watching this monday morning? a u.s. president has backed to d.c. of it tensions home and abroad. nowwill the markets focus turn to the fed? japan's economy has expanded for the sixth straight quarter. his economics finally working? the diva blame game accelerates. as --x and campaign desk as election campaign gears up. matt: we are less than a half hour away from the start of european trading. take a look first off at where receipt futures after a down day on friday, we see up across the board gains for futures. we also see a recovery in risk rather, a selloff in a

i'm guy johnson in london, matt miller is in berlin. unwind and relax, to dovish -- two dovish fed presidents want to continue the shrinking of the balance sheet. what does that mean about the possibility of a rate hike in december? that is an open question. demand rallies, right -- markets react positively to news that the zune the ballot will be held secret. china's trade gap widens for a fifth month. is there anything president trump can do about it? matt: i want to answer that question, but will value we are less than half an hour from the european open. futures trading down this morning after a mixed close yesterday. not much direction in markets the last couple of days and not a lot of direction, meaning futures are already, but not really significant drops. the asian pack down, as well.

i'm in london, matt miller is in berlin. police kill five suspected terrorists after an attack in barcelona leaving 13 dead and 100 injured. s&p falls, volatility spikes. does risk off have could further to run? keep your eye on dollar-yen. the german electorate is undecided on who to vote for in next month's election. could we be in for a surprise result? matt: less than a half hour away from the european open. let's take a look at how the market is assessing the damage anderday done in barcelona the response from the trump administration among other things. futures down across the board. we have a drops in u.s. equities yesterday i think the second

the day and await you i'm manus cranny ellen sign matt miller in berlin. here is what we are watching today. mountains, yellen and draghi are off to jackson hole for a summit in what will we learn from the heads of central banks as they cope with low inflation? trump's makes a primetime speech and edited to reset his presidency after controversial advisors after bannon's ouster. how much has changed at 1600 pennsylvania avenue? juncker martin schulz steps up his campaign to unseat her. -- challenger martin schulz steps up his campaign to unseat her. in the u.s., he saw the s&p and of dow futures starting to turn around. we have green arrows on european futures. if you take a look at the bond

matt miller, over in berlin. what are we watching? apparently we are going for gold .t hthe risk off selloff continues on president trump's latest fi ery language. is he right? inflation expectations. u.s. cpi is due out today. can the fed raise rates again this year if that measure remains subdued? 's head start. she is holding a 15 point lead, but will still need a coalition partner. who will it be, matt? matt: that is the question we are all discussing in germany. we will be discussing that over the next six weeks, for sure. right now, a more immediate threat. we are less than 30 minutes from the european open. futures are down across the board after the big drop in tehe u.s. yesterday. as guy mentioned, people fleeing

matt miller is in berlin. let's talk about what is going on in france, the ench government will start weaving unions on its labor reform plan in a little over an hour. the prime minister will hold a press conference in paris at noon french time. gasoline continues to surge as storm harvey dumps more rain over texas and louisiana disrupting refineries. what impact will the shutting of the colonial pipeline have on prices and the u.s. economy? brian moynihan tells bloomberg the probability of getting tax reform is high. more on that opposition throughout the program. matt: we are less than half an hour away from the start of european, equity index trading and equity trading as well. take a look at futures, gains across the board, stoxx 50 up

i am manus cranny alongside matt miller and here's what we are watching for you. man with the plan. president trump announces and open ended him to ending the war in afghanistan but warns his support is not a blank check. activist pressure. bhp billiton unveils plans to streamline the business with the sale of its u.s. shale asset. in 30 minutesns time. 100 days of macron. four months after the french president prospector he, the initial market euphoria about his win has managed. just how likely is it that he is able to pass labor reforms? matt: we are less than half an hour away from the european open . i'm am looking at futures that signal we will see gains at the open. you see the same in u.s. futures and it is an interesting trade today after the trump speech yesterday. you see people selling bonds,

matt miller. base very much.ouse strategist steve bannon was ousted in the white house friday. he had been on shaky ground for weeks amid the fallout of the violence in virginia. what next for trump in the post been an era? era?st bannon he looks to get his presidency back on track but he does not always stick to the script and has definitely the ability to move markets. with us is the senior investment manager at asset management. let me first ask you what you think traders do in reaction to donald trump. thatu try to take completely out of the decisions you make because it is so incalculable? definitely from our perspective, that is what we try to do with the political side of things. trump has been heavy on rhetoric and that has been volatile throughout the campaign and since the campaign we have seen his tone at and flow and it really does speak to different audiences with different tones and content. i think we can observe for markets the trade certainly does not ignore trump but we are certainly looking for

i am manus cranny alongside matt miller. here is what we are watching for you today. shutting it down. president trump says brace for a government shutdown if his border wall does not get funding. stocks stall and the peso falls as trump says he might terminate nafta. brexit back down. u.k. prime minister concedes that you law will influence britain long after brexit. will this, my's speed divorce talks? waiting for draghi. president speaks ahead of the jackson hole summit. will he give any substantial clues about the central banks next steps? matt: we are less than half and a lower -- half an hour away from the open. futures are trading, a bit of a mixed bag in my you see dax futures a little bit, ftse and cap futures down a little bit but not a lot of direction so -- gains the games we

i'm matt miller alongside guy johnson in london.rnings miss this morning with the second quarter adjusting as a got lost from continuing operations of 43 million euros. joining us down the line from mannheim with an exquisite ceo, thomasth the blais. the restructuring costs. this. comes in lower than the market was looking for. how is that restructuring going now? >> just to make that clear, it was not on the basis of restructuring. ever restructuring is making good progress. if you read the numbers, all is stabilizing, programs are working. cash flows improving, we refinanced the credit lines, we initiated the share buyback. all those things are on track. the bottom line performance is actually due to 53 million provisions that we took from certain legacy products out of the u.s.. these are projects either in litigation in the courts and were being prudent and terms of x -- put it in terms of expected outcome, then there is one major program in the u.s. where we don't like the performance or risk profile. they were being prudent he

matt miller, over in berlin. what are we watching?ng for gold .t hthe risk off selloff continues on president trump's latest fi ery language. is he right? inflation exptaon

matt miller is with me. good morning matt. it looks like the bond market may be less uncomfortable about the prospect of new year war which i think is a great way to kick off the week. >> indeed. thats confirmation we got nuclear war is not imminent as it comforts parts of the market. that in the risk radar and the breaking news out of germany in a moment. i wanted to look at what is happening with the dollar. back to where we were last week area we were seeing the reaction in fx markets and stock markets to what we were seeing on the korean peninsula. where did that meet speculators and how negative they are on the dollar? speculation down the most in 4.5 years. it continued with all that geopolitical tension last week because we saw the yen. >> data out of rwe, become a producer coming out with an adjusted net income. the taxi below the estimate at 809 million versus 834. a lot of german investors tended to look more at the operating profit numbers and those were in line with estimates. 3.2 one billion versus an estimate for

i'm matt miller in berlin.ooking at a live shot of the brandenburg gate, on a day when it is not raining in the german capital. let's call nejra cehic. nejra: the stock market might beginning, but provident financial is showing a stunning loss, a drop of more than 50%, the biggest drop on record, hitting the lowest levels since 2011. witheo has stepped down immediate effect, as the company forecasts a full year loss and scrapped the dividend. the plan to replace workers with technology has backfired. there is a deterioration in the trading performance. also, an investigation by the u.k. regulator. that is provident financial, showing stunning losses. on the downside as well, hikma pharmaceuticals, down 1.6%. it was downgraded to neutral from buy. from the upside, i looking at cairn energy. we are up just 1% with reported net income at $340 million. -- $314 million. dividends receivable up to $5 million are fully impaired. days sinces 100 emmanuel macron came into the zeitgeist that he would be president of fran

this is bloomberg. ♪ matt: i'm matt miller in berlin.n president nicolas maduro has said terrorist attack by quote, mercenaries, at the military base has been defeated. one attacker was injured and two were killed in the alleged armed assault. this comes a day after the assembly removed chief prosecutor ortega diaz, a critic of maduro's regime. we have the managing editor for emerging markets joining us now. justin, the event at an incredibly important country for the oil market. they have the biggest reserves in the world. an attack on a military base, this comes after the ousting of the chief prosecutor and previously there were helicopter incidents that were discovered as an attempted coup. what is going on in this country? are they on the verge of the civil war? that thought did cross my mind as i was reading the latest report. this incident to the level of desperation now among the ordinary venezuelan populace. probably and quite clearly i suppose it is filtering through into the security forces. of theas the ousting chief prosecuto

let me bring matt miller back on to the line. matt, do you know -- you know, this individual that i asked about, the quote here is that people like greg an andreas don't leave private practice willy-nilly. the fact he's being added after a couple of months shows how serious it is and can last a long time. i assume willy-nilly encompasses a bunch of different things like the money he earns in private practice and calls into investigation about something central to our democracy. can you talk about how a special counsel recruits people into efforts like this and what the addition of someone at this phase might signify? >> yeah. that's exactly right. i worked with greg andreas, he was one of the most respected prosecutors in the department. put mobsters in jail. did overseas bribery cases. very experienced prosecutor now making probably millions of dollars in private practice. this -- what bob mueller has been doing is a little bit like if you watch some of the avengers movies, at the beginning of the movie they're assembling from ac

matt miller alongside guy johnson.look at how the equity indexes are trading 14 minutes into the session. up .2%. the stoxx 600, the ftse of performing here. we are seeing the gains in london, about 15%. -- cac and the cap changed as we see a euro weakness. that the ftseng really -- it is always trading separate from the other continental indexes. the oilnk the fact that stocks have had a very good at july. i think that is going to be interesting to work its way through this morning. has rallyhat iron ore pretty hard has had a material impact on the sector. will still go ahead in march 2019 in spite of cabinet disagreements over a transition. banks mayays that need to find 30-50,000,000,000 dollars of additional capital in the aftermath of brexit. a requirement to carry extra couple surrounding the credit story in the u.k.. the chief currency strategist joins us now. let's go over the politics. a lot of noise over the last few days and weeks in the u.k.. i am trying hard to wait a my way through it. it does feel like n

reporter matt miller filed this report. chancellor angela merkel kicks off a 50-stop campaign tour before the september 24 election. she is the clear favorite to win with a 16% lead over her next biggest challenger martin schulz from the spd, but the party does not want to be complacent and assume they will win. things have shifted very quickly around here. and the cdu were not can now the most important issue is going to be the diesel issue. this in rupp did in the u.s., in germany, it's become a massive issue -- this the u.s., in germany, it's become a massive issue. one in five jobs is in some way connected to the auto industry. that doesn't leave a lot of room for the spd to work against her. for example, the minister on volkswagen's board happens to be a spd minister. they won't be able to push her too much on that issue. they also will not be able to push her too much on the refugee issue since she has done a great job of occupying the center. strengthbeen merkel's on every issue. she holds the center, takes credit fo

i am matt miller alongside guy johnson.o the trading this is where the european stocks are the moments. if you could deduce a sense of direction you are better than the at the moment i are waiting -- then me. at the moment we are waiting for the payrolls. too much around that story to get a sense of a big position at the moment. it has been a fascinating few weeks and so much action in the foreign exchange market. moment, a change in direction. the payroll number is important but it is the wage story we need to walk out for -- watch out for. trade and profits ahead of some barriers coming up. currency trimming games after the -- gains. the swiss franc has been the trade of the week. it was swiss national day on monday. very much bullish on the euro, he is the global head of fx strategy at morgan stanley. it has gone vertical. outael is clearly pouring of the swiss franc right now. why and what of the implications? >> what was the starting point? the starting point does explain something about the future dynamic. banks overs

i am matt miller in berlin.nk, most likely exit scenario, involves shifting 4000 jobs out of the u.k. according to people briefed on the planning, the bank will transfer most of those positions to frankfurt and berlin when britain quick that you -- quits the e.u. this is a story we are following closely. french banks have posted a drop in profits of 20%, matching the average analyst estimate for the second quarter. drilling, onset down exclusively with the bank's chief executive about challenges facing the bank and its preparations for brexit. strongave presence in paris and london. i do not think that the adaptation to a brexit scenario, which is still very unclear, is a significant challenge. what we said is, effectively, we think that between 300 people and 400 people might have to move to paris, and we have said we would choose paris for relocating these people. i do not think it is a big expense. let us wait for the real scenario. we have time to decide when and how, so we'll see when we have more clarity f

matt miller, good morning to you. where does germany stand with ?issue 30 topical during the election. where have we got to? matt: sony people have been suing munich and dozens of cities around germany for exceeding the legal level of pollution the you you -- eu mandates. diesel now that these cars spew out more nitrous oxide in the real world than in laboratory testing. germany has to deal with this because of lawsuits. the election has made it a bit of an issue so far. now ashey stand right they have already had one diesel summits. they decided to give money to clean up cities and offer money for old diesel and a software fix. they need a hardware fix to bring down nitrous oxide levels. remember how close the government and automakers worked together. iny employed 800,000 people germany directly and one in for jobs are connected to the auto industry indirectly. you have labor unions on supervisory boards. germany sotant for they cannot just shut it down. important.s not just it is integral. part of the fabric of society in germany. where does it r

i'm in london, matt miller is in berlin.olice kill five suspected terrorists after an attack in barcelona leaving 13 dead and 100 injured. s&p falls, volatility spikes. does risk off have could further to run? keep your eye on dollar-yen. the german electorate is undecided on who to vote for in next month's election. could we be in for a surprise result? matt: less than a half hour away from the european open. let's take a look at how the market is assessing the damage anderday done in barcelona the response from the trump administration among other things. futures down across the board. we have a drops in u.s. equities yesterday i think the second drop is more than 1% in one week. something we have not seen in at least the last six months. we have not seen a 1% out of .his month since march it has been a wild. ets are getting back to risk off. you can see a three-day trade of the german bunds, now down/ . a one-day trade you can see that today is a day on which investors are buying those bunds, pushing up the price and driv

matt miller is in berlin. tropical storm harvey continues to batter texas. sounds like a lot of money. could the damage and a helping u.s. gdp growth? longer-term, it could be a bonus. kuroda feeling cautious. they tell bloomberg the nations cannot keep up its current growth rate, but how long can it continue this a comet is monetary policy -- accommodating monetary policy? it is looking to promote expedia ceo to run the global firm. he was not on the list apparently, but it looks like he could be the man. we are less than a half hour away from the european market open. what are we looking at? couldthe question is, not get anybody else to come in and run the business? uses it a lot of the time, but it has come under fire lately for other issues, scandal , issues of the like. we are not showing the ftse futures because it is a bank and hopefully everybody in great britain is still asleep. we do see euro stocks, futures down, dax futures down, cap futures down. a littleresting after bit of weakness today. take a look at bunds. it looks like investors have been

i am and is rally -- manus cranny alongside matt miller. investors await yellen and draghi's jackson hole speeches. how much will be revealed? up against the wall. trumps government shutdown threat triggers worries in the market. how likely is that the u.s. will be able to lift the debt ceiling in time? and countdown to the german election. with just a month to go until the vote, what is at stake? ae ftp tells us it is wary of coalition with chancellor merkel. have less than a half-hour to go until the open of cash trading. maybe we'll get some movement on the ftse, it closed yesterday unchanged and we see futures up .1 of 1%. not really any moves in futures either but more than we see on the dax and dax futures unchanged. cac futures up what one of 1%. the market is in weight and hold mode. the last couple of days waiting to see what janet yellen does. president trump maybe spooked the market into some safe haven trades yesterday. we see them coming off today. take a look at the bunds, you yields coming back up, still miniscule levels on t

matt: imf miller. anna: talk about the united states and houston specifically. so much of the united states energy market, a landmark hurricane, a landmark storm now earlys over texas area estimates of what kind of economic impact we might see here, 24 billion dollars. stay, howhe reins to long they keep falling is going to be one of the key questions. what has this done to markets? gasoline spread flying as harvey looms. futures are the same. oil steady but refineries have been flooded. more than 10% of the fuel making capacity. farcolonial pipeline, so from houston to the east coast of the united states it seems we

miller int was matt berlin for us. let's get back to our guest from lighthouse research.h us the entire show and we are not done with him yet. the elections in germany, angela --kel clearly the figure it the favorite to win, but if we have learned anything, is that we can see upsets when it comes to political races. what are the chances we get one of those again, what would be the driving force for that and the market impact? jean-paul: i'm not going to say we have not -- we're not going to get a surprise, since we have seen surprises. but as matt miller said, i think the key is not the headline election results, a 16 point lead is strong. it comes down to a portion of representation and talks over coalition partners. --portional rep position representation, we don't know. were not looking at much change in german politics, but when you look ahead to 2018, there are issues they need to confront. were talking about refugees, brexit, relations with the trump and russia. there is definitely a lot on the agenda. talk about politics in 2017 have impacted market, it has been qu

i'm guy johnson in london, matt miller is in berlin.dovish -- two dovish fed presidents want to continue the shrinking of the balance sheet. what does that mean about the possibility of a rate hike in december? that is an open question.

was oliver bloom speaking with matt miller little bit earlier today.u will not want to miss the european close. we are following stocks. they are rebounding from a four-month low yesterday. check out the currency board. the euro still below 120 against the dollar. the close is next. this is bloomberg. ♪ so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's how you outmaneuver. ♪ mark: 30 minutes left in the trading day today. in london, i am mark barton. vonnie: in new york, i am vonnie quinn. this is the european close on "bloomberg markets." ♪ mark: here are the top stories we are covering from the bloomberg and around the world. tropical storm harvey strikes again along the eastern border of texas-louisiana. we could see some massive rainfall tying into its u.s. econom

i am matt cranny alongside matt miller in berlin. chairmanay y.ee, the who has offered bribes in favor of succession and is guilty of a perjury charge. he is sentenced to five years in prison. five years in prison on graft charges. that is the top line. for wyoming, yellen and groggy take the podium. kaplanson hole, robert defense inflation target saying it will be met. president trump will kick off the texaso overhaul next week. but how much can be achieved between a white house and congress? hurricane harvey since gasoline surging as it heads to texas. said to be the worst storm in more than a decade. we are less than half an hour away from the open of cash trading. i wonder how much it will move today at the open. futures show almost no direction whatever. the euro stocks 50 almost unchanged. the ftse and backs unchanged and the -- backs -- dax unchanged. could see a little rise at the open, but a very small one. a littlet bunds, moving yield today. right now, up to 0.382. let me show you the three-day look. we have come down from 0.4. if you l

i am guy johnson in london, matt miller is in berlin.orth korea fires in the -- ballistic missile over japan. it grave andlls serious. as a result, risk off. investors launch into haven assets, golden treasuries. will we breach the record high on the u.s. tenure 17? president trump heads to texas as tropical storm harvey is set to make a second landfall. both saying it is too early to assess damage for how high will outnumber be. -- that number will be. an hourss than half from the european open and what futures are pointing to, obviously we are seeing red arrows across the board with euro stoxx 50 futures dropping about two thirds of 1%, ftse futures also right there. forre looking at the same futures across the entire european spectrum, at least the major equity indexes. are fleeing to risk assets, i have been keeping my eye on the risk assets all morning long. just to see how seriously the market takes this missile launch. it is very interesting to try and figure out how much of this is priced in already and how much concern the marke

that's another big question i think that will remain on the table for some time. >> matt miller leavings with a cliffhanger on this friday afternoon. thank you. natasha, always good to have you. i've learned something over the last few minutes. thanks to you both. >>> republican rift. the president continuing his very public spat with his senate majority leader. what's the president's end game with mitch mcconnell? also, mr. trump calling the opioid epidemic a national emergency. what that might mean going forward, and what it likely does not mean. it's just a burst pipe, i could fix it. (laugh) no. with claim rateguard your rates won't go up just because of a claim. i totally could've - no! switching to allstate is worth it. ykeep you sidelined.ng that's why you drink ensure. with 9 grams of protein and 26 vitamins and minerals. for the strength and energy to get back to doing... ...what you love. ensure. always be you. haven't you ever wanted sowatch your step.ry? a pilot like you should be serving your country. you're c.i.a.? shh... based on a true story... we need you to deliver stu

matt miller and die. i am guy johnson in london, matt is in berlin. what are we watching, the boe.idely expected to hold over brexit uncertainty. america is betting on a high. we speak to the banks chief economist. president trump signs a russian sanctions bill. the administration in washington is said to be investing intellectual property violations. doha strikes. [indiscernible] has smashed the transport record by paying 220 million euros. story,take a look at the it is a great story. we will bring you those headlines. we are less than half an hour away from the market open. what are we expecting today? matt: we have a slew of earnings out this morning, we are getting the german tire maker out with estimates. it missed estimates. salesre raising their forecast to 44 billion euros. a big full-year sales were cast for continent tell -- continental. we have numbers from siemens, bmw, and a number of other companies in germany so you could see some action and the dax. we do not see a lot of action as far as futures are concerned. see them much action yesterday as far as the cash trad

matt: i'm matt miller alongside guy johnson.e about 16 minutes the start of cash trading in europe. let's go to hong kong for the business flash card for that, juliette saly. a stake in french yogurt maker danone, because it views the company is undervalued. in activist fund owns shares danone worth about $400 million. stock rose on the news. representatives declined to comment. the cofounder and chief strategy officer of airbnb has spoken to bloomberg about the company's reaction to the deadly riots in charlottesville. banned whiteirbnb supremacist. >> when we became aware there it be a gathering at bnp -- airbnb by white supremacist, we took action to cancel those reservations and ban those users from the platform. we felt that was incompatible with our values and took a strong stance. juliette: a chinese businessman has taken control of english premier football club southampton. the chairman of landis sports that he had agreed to take an 80% stake in the club. his daughter will also become a partner alongside existing swiss o

i am matt miller in berlin alongside guy johnson.ake a look at how .hings are trading we flatlined. a little bit better bid than we saw at the beginning of trading. if you are long the market, that is. in terms of things you need to be aware of, i pulled up the ftse 100 here. this is the process. i want to walk through. you put the index in. date to change the 22017, you change it to daily. it then gives you a list of the stocks in the ftse 100. it always happens on a thursday. these are the stocks going ex-dividend today, and there are a whole bunch of them. scotland is in there. a bunch of stocks going ex-dividend on the london market. let us get a bloomberg business flash. here is sebastian salek. sebastian: thanks, guys. companies behind the biggest u.s. credit cards -- insight violence. visaid and mastercard -- and mastercard under pressure to stop providing ways for what do mrs. groups to raise funds in the wake of the violent protests in charlottesville, virginia. tencent shares jumped the most in a year after it posted record

matt miller joins us from berlin. an we expect from the so-called diesel summit, it is being seen as a last chance saloon in terms of saving the technology. matt: right. and saving the 800,000 jobs that rely on the outer making industry in this country. what you have got is the coming together of government officials on the one hand who need to be tough on the auto industry, they have not really done anything since the dieselgate scandal broke out in 2015. on the other hand, the industry provides so many jobs that one investor told us it is more important to the german economy than greece. that sets it up for you. the automakers have to somehow give enough diesel technology cleanup spending that the government can come away looking good. and also avoid fanning these cars from the cities. if you get a tan, a diesel been in munich and stuttgart and that spreads, there is concerns in the u k and france, you could hit these automakers hard and they count on diesel technology for 46% of their total revenue. manus: thank you

matt miller and i will take you to the open of little later on.about what we are seeing in terms of the fair value calculations. we are up by around .2%, .3% on the ftse. that is the expected call in terms of the open. just walking you through what else we are seeing. asian markets fairly solid. european markets had a fairly decent day friday after the payrolls. this morning, i want to highlight what is happening with steel. it is been rallying aggressively over the last few days, and continue to rally again today. you can see this in the singapore iron ore futures, and in the steel contract. the move is definitely exacerbated by leverage, but nevertheless, we have a 43% move off the lows. a 45% move up the lows on iron ore. as i say, that is a big trade, it tells you a lot about what is happening in terms of expectations surrounding china. you can see this drifting out into other asset classes as well. does the rebar futures you can see popping higher. emerging markets, material stocks down here. a long way to go if they are going to be playing c

matt miller spoke to the bmw ceo about the fuels future.iesel will for sure play a role over the next years as a transition technology and that is an important one. we can see the goals toward co2 emissions cannot be achieved without diesel and clean diesel. the euro six diesel has all the requirements to make a positive contribution to our environment. a significant emissions cutting impact, that is why diesel will play an important role in the coming years. for more on the sector, joining us more onset. good morning to you. we will talk about the sector. ebit, 9.3ond quarter million. 9.1.arket had penciled in that is just below the numbers that we had expected. 25.8 billion, the market penciled in 25.85 mother earnings, gross earnings at 2.93 ahead of the overall and the concern is how strong the auto industry can be. second quarter bmw sales slumping in the u.s., u.k., germany and squeezing the auto margin. we will get to that in just a moment. the stocks have been squashed this year. daimler down and vw down 1.3%. it is a red-hot headli

matt miller mentioned it.he key element for the market, key, willrly for the be the degree to which he wanted to talk about europe and egypt and the things that are on the macroeconomic gent and things that center around policy. what degree does it she tried to play that theme into domestic politics? she's been very quiet and i onspect that is purpose. international investors, looking what he does bring to bat will be a key indicator moving forward. francine: we have the net dollar positions. ecb enters a the crucial part of the battle. mario draghi six this week if with the main event in jackson hole, wyoming. three years ago, he laid the groundwork for the bond buying program. what will he get this time around? there seems to be almost a one way movement, the dollar was going down and the movement was going up. the ecb said, we need to start worrying. comments those, about concern. i think it is overbought. i actually think we will see some entrenchment. there has been a lot of momentum on stuff that -- the

joining me now matt miller, and steve volatic. matt, let us start with you.oes this change in tone from the lawyer suggest from you? >> that ty cobb recognizes the benefit of cooperating with the investigation. mueller has a lot of discretion on how he can proceed with this investigation. which he ask the white house to turn over documents or he can send them subpoenas which are, you know, a firmer position to take. he can let people do interviews with the fbi in the quiet of their office, or subpoena them to come down before the grand jury where reporters and other people see them coming in and out. he clearly understands it is important to be seen as cooperating with mueller. but the question as you said in your intro is whether or not the president, and jay, his tv lawyer in a sense, get that. i don't think there is any evidence yet they do. >> what happens when there is a disconnect between those two, when the president goes out to bad mouth the investigation and his lawyer is trying to do things the traditional way. and as matt was talking about, speak r