matt: i am matt miller in berlin.res of general electric tumble the most since 2008 after a prominent financial examiner working with a short seller has accused the company of fraud. raised concerns over bernie madoff. ge is increasing reserves and immediately saying the company is hiding a loss of more then $9 billion on its hughes asn baker's well. nejra: the claims have been called market manipulation plain and simple. he added that he wrote a paper but never talked to company officials goes to show that he is not interested in accurate financial analysis. stanley said he purchased ge shares on thursday. the idea that they are engaging in a intentional fraud is ridiculous. this is one of the most read stories on the bloomberg and it is interesting particularly given ge's history and the challenges up until now the company has been facing. matt: the history of ge is murky. notable murky financials. taking part in bringing out bernie made off. but so many big names are purchasing shares here are not just dropped in m

i'm matt miller in berlin. nejra: i'm nejra cehic in london.et the first word business flash with debra mao in hong kong. tensionss.-china trade didn't stop standard chartered from delivering first half role -- result that beat expectations. standard chartered stock has been rising, helped by a one billion buyback program announced in april. on asts were lower reported basis than last year by 3% if you do it on constant currency. costs are definitely well under control. me and its inside shareholders had sold $480 million in discount shares. they offered them at $160 apiece, around a 19% discount from wednesday's close. the move was to hand early investors a slice of profits. it added to the company's coffers as it looks to expand. spotify has reported slower subscriber growth then hoped for. the streaming company ended the quarter with 108 million subscribers to its premium service. spotify says the shortfall was related to its failure to market a plan for students. the streaming giant plans to make up for lost ground by year end. that is your

i am at eller -- matt miller.ries.ay's donald trump escalates the trade war with china, announcing a 10% tariff on $300 billion of imports. stocks dive. we spoke exclusively with mike pompeo. we want fairness, evenness, reciprocity. these are core concepts. asia will thrive when that happened. >> trade concerns don't stop. tokyo removing its neighbor from a list of preferred partners. it is not all about trade. well will make headlines or not. the report showing an increase for the month. down from the june number. after the release, we will hear from the u.s. economic council director larry kudlow. you don't want to miss it. the royalcross from bank of scotland. nejra headed over there to talk to the chief financial officer. profit,uarter pretax 1.6 8 billion pounds. royal bank of scotland joins a lot of the european peers beating estimates in the second quarter. 16%, below the street estimate. we are seeing an interim dividend per share of two pence. with a special dividend of 12 pence. this is something the mar

i am nejra cehic with matt miller in berlin. a big mess, asian equities taking some of the shine off of president trump's reprieve. see you in september, china says it is sticking to trade talks after trump delays tariffs until the christmas period. angela merkel signals possible stimulus as we await second-quarter growth data. the chancellor says a difficult patch lays ahead. a bloomberg exclusive, facebook paid hundreds of outside contractors to transcribe clips of audio from users of the services. more on that get exclusive story through the day. i want to check in on asset prices that show you what kind of risk on rally we had after donald trump said he would only put tariffs on part of the $300 billion worth of goods from china that he had previously flagged to start in september. we see asian stocks rising after the massive rally in european and u.s. stocks, gains of 1% and more than 1% across the board in the u.s. you also see another contributor to the risk on sentiment. for the fifth day in a row, china has set the yuan

. >> matt miller, justice and security analyst with a different take from folks you heard from on the show. matt, thanks fog ber on the phone. i want to get ainslie who has been sifting through the report and bring more from what she's reading. what have you got? >> when all of this was first leaked to the media, it was after comey was fired as fbi director. that's an interesting question they get into. they slap comey on the wrist for the way they preserved these documents, whether or not they were fbi documents or personal documents. comey says he considers the majority of these memos, including the big one we're talking about here, where he's talking about the meeting where the president asked him to let go of the michael flynn thing, he said that was a personal document. he kept them at home. the ig said is whole incompatible with the statute's languages and policies defining federal court records -- defining federal records. they are saying all of this should have been kept in a secure location at the fbi. that might seem like they are kind of being picky here about where he keep

markets the european open," live from our european headquarters in london, anna edwards alongside matt miller in berlin. matt: a final reading of german second-quarter gdp, confirming a contraction and futures are mixed as data shows a drop in exports. the cash trade is less than 30 minutes away. ♪ matt: soothing words, stocks gained across asia as president trump's latest trade rhetoric calms markets, but unease sets in with futures wavering in europe and america. close to a coalition? italy's five-star and democratic parties are near agreement on a new government with giuseppe conte staying on as premier. said he would be open to talks with the u.s. but only if sanctions are lifted on his country. matt: less than a half-hour from the start of european trade. take a look, first off, at gold holding gains. not as high as yesterday, before the start of the g7 and biarritz. hit $1533 per troy ounce, but holding onto what we saw the last couple of sessions. a look at the futures. kind of a mixed trade, looking at futures that are down in terms of the ftse, about .5%. but gaining just as much on

i'm matt miller. nejra: i'm nejra cehic in london.group has beaten estimates for second quarter but says the global outlook remains very uncertain. the group stock twits for your outlook and says it realized synergies faster than expected. conglomerate have had a tough month as donald trump escalated his trade war against china. joining us now for his first interview of the day is the ceo. great to have you with us. thank you for joining us. let me pick up on the comment you made about uncertainty. take us behind the numbers and give us a sense of how concerned you are about the global uncertainty for the rest of the year. thatwould like to say trade tensions have been quite manageable for us so far. demand grew inr the second quarter. u.s. imports grew 2.5%. they went down around 7% from china. goods are coming into the u.s. from any other places. we have managed the situation quite well. looking forward, we read the papers and hear the news. there are lots of uncertainty also throughout the trade tensions between china and the u.s..

i'm matt miller in berlin. let's check in on the markets.st, a look at what is going on in asia. we have a little bit of mixed trade, but in general we see the msi asia-pacific rising. some chinese indexes are falling on trade war concerns. the japanese 10 year yield down another two basis points, yielding -21 basis points, and the yen making things not so easy for the bank of japan in terms of keeping up inflation. 112erms of the euro-dollar, is the level you are watching. s&p futures are down after a big rally in yesterday's session, and brent crude continues to fall, today another six cents. down $57.ent crude today, we are asking a question on the mliv blog, what impact would the dollar intervention have across assets? you can join the debate, reach out to us and the mliv team. this is spurred by president trump's continued complaints or renewed complaints about the stronger greenback. let's get the bloomberg business flash. for that we go to annabelle droulers in hong kong. annabelle: hundreds of jobs could be at risk as ubs is consider

matt miller will do that early in the next hour. there because france cheen demanded it. francine: we're on a renminbi watch. they are not expecting any violent moves from that. we'll see what happens. i'm looking at my market check. a little bit different actually. i don't often look at new zealand dollar. if you look at bonds over all, they are extending gains. stocks climbing and of course you know, new zealand was something to watch out for. the u.s. dollar steady now against australian dollar dropping to a decade low on speculation that they would follow the new zealand counterparts. tom: royal bank of new zealand cutting interest rates substantially today. then there is the long rates and then there is the really, really long rates. we go, go to a german viewer. thank you so much for bringing this to my attention. this is the austrian 100-year piece. 117. is a maturity of 2 francine and i will will still be doing "surveillance" then. it has enjoyed a 200% price aappreciation. that is not yield. that is price from 100 up to 192

guy: matt miller talking to commerzbank cfo earlier on today.nse of where the banks are in europe and the challenges they face. we're joined by bloomberg's senior finance editor jim hertling. deutsche bank and commerzbank are facing the same problems. they set a target, they set a profitability goal and the goal post moves. the trade story gets worse. the ecb will cut rates. that affects the net interest margins. you look at commerzbank and you extend that to deutsche bank. while these guys find a way out of that spiral? jim: for them it is not a new story. they have been dealing with a slowish economy for a decade. loaded negative interest rates for many years now. the only thing it changes is their hopes and expectations. he does not change how they are doing business. their margins are getting unicreditwhich is why cut its revenue target, commerce bank increased its loan-loss provisions, probably threw away its targets. what do they do? they batten down the hatches. it is a cost-cutting story. vonnie: that is where i wanted to go, james. can

i am and -- and edwards alongside matt miller. matt: how high can a dead cat bounce? not that high. futures point to small gains of the open. less than 30 minutes to go. ♪ anna: manipulation or mitigation? the pboc tags its currency at a stronger level than expected hours after the u.s. tax beijing and fx manipulator. stocks shaken. china's intervention helps asian equities reduce losses and wall street higher after the worst drop in ae -- date year. and cutting the session in the u.s. could the 50 point fed cut come in mid-september? good morning. matt: where less than half an hour away from the start of european trading. -- we are less than half an hour away from the start of european trading. coming down to the -- the lowest election.e the 2016 the bounce back recovering up to 1.75% at the moment. take a look at futures. we saw a earlier bigger gains in futures and then we see -- then we saw now. u.s. futures are rising fairly substantially. dax futures are up .2 of 1%, byure as ftse futures down .25 of 1%. what else do you see on the gmm? yuan suggesting that fixing and working

i'm anna edwards alongside matt miller. matt: today the markets say, this is not over. asian stocks fall along with u.s. equity futures. the cash trade is less than 30 minutes away. anna: no second thoughts. the white house says president trump's only regret is not raising tariffs higher. amid calls for calm escalation. pricing in more pain. stocks take a hit across the world. 10 year treasury yields fall to the lowest since 2016. in violent weekend in hong kong seeing equities on a slide the most this year. watch for luxury stocks at the european open. matt: thank goodness you are back. so good to see you, even if it is via satellite. pictureing at a 30 day of treasury yields. you can see starting on friday when the trade war was escalating, the chinese put tariffs on 75 billion dollars worth of goods and donald trump came back with more. we saw investors run to treasuries, buying the paper and pushing the yield down. far away from the one spot 31 eight, which is the all-time low. take a look at futures. you are not trading in great britain. you have a bank holiday for

welcome to "bloomberg markets: european open i am anna edwards alongside matt miller. tt: today, the markets say, is it too late to stop the bond rally? european yields continue to slide. european futures point to another mixed open. the cash trade is 30 minutes away. ♪ anna: dudley's bombshell. the former fed official draws criticism after suggesting the central bank hold back on stimulus that would help donald trump's trade policy and reelection. the president's deadline. italy's political leaders meet today seeking agreements on new government. failure could mean a new elections as soon as november. bp exits alaska. they sell their business in the state for $5.6 billion saying it is no longer a competitive investment. good morning. matt: good morning. we are looking at bund yields down to -70 basis points right now. take a look at the three-day trade. yields continue to follow how lower -- fall lower and lower. for the most part, futures are pointing to a negative open right now. we have futures down just marginally on dax futures and ftse futures. futuresowing -- ca

i am matt miller.n hong kong, the 12th straight weekend of protests and violent clashes erupted between police and protesters on sunday evening at police drew their guns and an officer fired a warning shot. dozens were arrested as violence increased, water cannons, tear gas and rubber bullets were used . stephen engle is watching this. let -- lead us through what exactly happened and has this been the worst level in terms of violence? stephen: after a brief respite last weekend when we had demonstrations for 11 consecutive weekends. they were fairly peaceful. we thought maybe this could be the beginning of a dialogue but that ended pretty quickly this weekend as the weather turned hot and extremely rainy. people got a little more frustrated. the protesters really frustrated at the local government says it wants to talk but it is not offering any concessions to their main demand. they are really fighting a political battle. this teargas, now water cannons. now notaid, they are hesitating to pull out the

i am anna edwards alongside matt miller in berlin. tt: steve mnuchin tells bloomberg that ultra long bonds are under serious consideration. stocks and futures trading mixed ahead of and other data heavy take-- another data heavy -- day. the cash trade is less than 30 minutes away. ♪ anna: a constitutional outrage. boris johnson's plan to suspend parliament pits the critical legislature. fears of no deal rise on the continent. >> obviously, the no deal scenario is today the most likely scenario for the u.k.. anna: giuseppe conte second chance. the democrats and five-star seek to avoid a snap election. stocks are trading lower and treasury yields a slight ahead of a final reading of u.s. gdp today. dalyting fed a member mary says markets may be talking themselves into a recession. >> all of these moves will actually get ahead of the data and could become a self-fulfilling prophecy, one that actually makes it harder for us to sustain the expansion and achieve our goals. a halfe are less than hour away from the start of european trading. t

the defining our friend matt miller, doj spokesman and frequent critic of comey described this way, quote, the ig basically faulted comey for speeding on his way to say a fire was coming. but the president and his campaign have come out swinging today, attacking comey with the usual smears. in fact trump falsely accused comey of leaking classified information on at least ten occasions. >> comey, by the way, lied and leaked and also leaked classified information. >> then you see the lying and you see the leaking and you see comey lie to congress, nothing happens. you see him leaking, nothing happens. and this is leaking classified information. this is leaking really big stuff. lies before congress, which is just about the ultimate. sworn testimony where comey told so much and he leaked, he leaked classified information. well, if somebody on our team leaked classified information, it would be years in jail. >> the accusation of leaking classified information is one of which comey today can claim total exoneration, as the inspector general and his report finds, and i quote, no evidence of th

i'm matt miller, in for francine lacqua. get over to italy, where the anti-establishment five-star movement says it will not hold any more meetings with the centerleft democratic party unless the democrats agree that giuseppe conte remains on as prime minister. joining us now is our rome bureau chief. this is been a sticking point i think throughout the night of the democrats do have to come back and concede? the markets are still bidding looksonds and stock, it like markets think it is a done deal. probably not a done deal, but they can probably force the democrats hand to come out publicly and say they agree on the government. this has been a sticking point through the night. for now they say they won't hold anymore talks that were supposed therepen, but for now will be no talks until the democrats come out and officially support the prime minister. we will see how it goes, but as the bond market says, probably it will happen eventually. >> i was just speaking with an thereist who says that are risks if this coalition come

i am matt miller in berlin.ra: the global economy is heading toward a recession which assets will outperform. you can join the debate and reach out to us. ib+ tvgo on your bloomberg. corn plunged by the exchange limit of 6% yesterday after the u.s. agricultural department said american farmers planted more than estimated. futures capped their worst day in six years as the agency said u.s. yields and production would be bigger than forecast. cathay pacific tumbled to a tenure low yesterday on the news of hong kong ongoing process. the airline extended fights after the carrier canceled more flights. hit out last week after employees joined anti-beijing protests in hong kong. 40,000 restaurants is not enough for some. yum! brands is looking to grow even more. the owner of kfc and taco bell is looking at partnerships and investments to be even adding any restaurant chain, that is according to incoming chief executive david gibbs. the company announced he will take over the top job generate first. cvs and viacom are

i'm anna edwards alongside matt miller. matt: today the markets say, this is not over.fall along with u.s. equity futures. the cash trade is less than 30 minutes away. anna:

david: matt madeley, miller tabak equity strategist, -- matt -- mattillie taebaek maley, miller tabaky strategist, thank you for being with us. now we turn to viviana hurtado for the first word news. >> we shall not surrender. i urge international communities to send a clear message to president xi. sending troops or using emergency ordinances is not the way out. we will continue our fight no matter how they arrest and prosecute us. francine: in november, he and fellow activists were back in court. police in hong kong warned that more arrests may be coming. ned a massban march scheduled for saturday, a harder line stance against the pro-democracy movement. florida declaring a state of emergency for nearly 70 counties as hurricane dorian approaches. youran track the storm on bloomberg. expected to make landfall as a powerful category four storm. president trump says it could be "absolute monster." he compared it to hurricane andrew, which devastated south florida. argentina said it would delay payments of more than $100 billion of debts. while the delay could relieve short-term pressur

i am and -- and edwards alongside matt miller. matt: how high can a dead cat bounce? not that high. to small gains of the open. less than 30 minutes to go. ♪ anna: manipulation or mitigation? the pboc

i am matt miller here in frankfurt alongside anna edwards in london.s into the trading day, let's look at how things are shaping up. higher, so that is the buys to the upside in the breadth to the upside. a biotech business is up 8%. the numbers seem a better than anticipated. , we have gotat chemicals and banking stocks, a range of assets. let's move it to the downside. this is where we have seen a number of corporate supporting results. , concern about the interest rate environment. standard life aberdeen, we spoke to the chief, down by 4%. times are tough, it seems. , achieving targets is more difficult, as you mentioned. down 3%. glencore weaker by 2.7% on their numbers. same story over at legal and general. let's get a first word news update. china's currency policy is staying at the forefront of the trade war. the pboc set the daily reference rate marginally stronger than seven a dollar. beijing has vowed to keep the exchange rate steady. the kiwi dollar is plunging after the reserve bank cut its benchmark rate. most economists had forecast a 25

i am matt miller in berlin. today, the markets say ignore what the fed said.to keep cutting. investors disregard the latest meds from the central bank. european futures are pointing lower ahead of a data heavy morning. cash trade is less than 30 minutes away. ♪ back-and-forth.

i am anna edwards alongside matt miller in berlin. matt: are things really going well?flee risk assets. european futures down more than 1%. the cash trade is less than 30 minutes away. ♪ anna: the big

i am anna edwards alongside matt miller in berlin. matt: are things really going well? , as investorsld flee risk assets. european futures down more than 1%. the cash trade is less than 30 minutes away. ♪ anna: the big breach, china's yuan down $477. beijing sites protectionism as agriculturallt imports. asian equities down the most since october last year. european and u.s. futures point to another day of heavy license -- heavy losses. hsbc's ceo steps down. good morning, matt. matt: good morning. less than half an hour away from the start of european trading and it will be a negative session judging by futures. gold surging again back to the highest level we have seen since 2013 as investors seek safe havens. look at the futures trade across europe, a loss of more than 1% in ftse futures. we are dax futures down 1.3%. it looks like it could be a very negative open. what are you seeing on the gmm? anna: a very negative session essentially through the asian markets as china hits back. the chinese currency being allowed to weekend -- weaken through seven. china asking im

markets the european open," live from our european headquarters in london, anna edwards alongside matt miller: a final reading of german second-quarter gdp, confirming a contraction and futures are mixed as data shows a drop in exports. the cash trade is less than 30 minutes away. ♪ matt: soothing

i'm anna edwards alongside matt miller in berlin. matt: no yield is too low as money continues to pour into the bond market. 30 year treasury yields hit a record low. can color imagine a world where they go negative. european equities looked to build on the bounce. the cash trade is less than 30 minutes away. anna: stock traders get their fix. the pboc sets its daily reference rate past seven dollars for the first time, but risk assets gain is the number is stronger than consensus. oil bounces from a seven-month low as the kingdom calls producers to discuss a response to the slide to the bear market in oil prices. as european earnings season continues, we will speak with the ceo of adidas and the cfo of merck. matt: good morning. less than a half-hour away from the start of equity trading. take a look at the 10-year yield. do you believe what the bond market is saying right now? dropping below 1.6% in yesterday's session. is that forecasting a recession to come? take a look at futures. they are indicating that the number is no. we see

welcome to "bloomberg markets: european open i am anna edwards alongside matt miller. ts say, is it too late to stop the bond rally? european yields continue to slide. european futures point to another mixed open. the cash trade is 30 minutes away. ♪ anna: dudley'som

i'm anna edwards alongside matt miller in berlin. low as money continues to pour into the bond market. 30 year treasury yields hit a record low. can color imagine a world where they go negative. european equities looked to build on the bounce. the cash trade is less than 30 minutes away. anna:

i am matt miller in berlin. the market say who spoiled the party? stasis in hong kong can be in u.s. ands fall asian stocks. the weakness looks to carry on into europe. the cash trade is less than 30 minutes away. splatters.gine the economy shrinks in the second quarter. in september, china is sticking to trade talks after untildelays some tariffs the christmas period. airport injunction, hong kong police at the city transport hub after a chaotic night when protesters were beat and detained suspected infiltrators. yen,a look at the japanese just to illustrate what happened yesterday when donald trump tweeted that maybe some goods do not need tariffs on september 1. it would help the christmas period. as a result, you see the safe haven bid come off the japanese yen pretty substantially. we were down almost at 1.05 even, now you can buy more than 106 for your dollar. we have futures turning more positive in europe. u.s. futures are down for the most part, but nasdaq futures are rising. that support has shown through index futures. -- that support has

we are joined by matt miller, a european markets bloomberg anchor.d saying don't touch us? but we can readjust? from i think what it is the finance minister is an answer to so many officials who have been saying -- he just seems like an ostrich with his head stuck in the sand. we spoke to him on bloomberg television about three weeks ago, and he said there is no crisis in germany, and for that reason he does not see any need for extra spending. but now with so many bad data points and even the bundesbank warning that germany may fall into a recession, it seems like it is time for somebody in berlin to answer these -- to answer these demands from not only investors and bankers, but also government and ngo officials. bundesbank actually saying first of all that there is more momentum in their industry, and that is going to lead to continued weakness, will it hit domestic demand as well, and it is that what they worry about? matt: that is the concern. they pointed out that it was demand from abroad. the export demand that was a problem in the last quart

i am matt miller in berlin. bombs away,say curve inversion in the u.k. and the u.s. trigger a selloff around the world. the cash trade is less than 30 minutes away. small yields, the 30 year treasury yield drops under 2% for the first time, and j.p. morgan strategists move up their prediction for subzero 10 year yields to 2021 year clueless, donald trump attacks jay powell saying the fed is holding the u.s. back from big rewards and games, "we will win," he says. maersk ceo sounds a negative note on the global economy even as the company beats estimates on operating profits for the second quarter. good morning and welcome to "bloomberg markets: european open." we are looking right now at a safe haven bid that continues across assets. to the levels we have previously seen. the japanese yen the past three days, it is that -- it is at 105.97, but not at the levels on tuesday. this leads me to believe duration is what investors are looking at. futures, a bit of a bouts in terms -- a bit of a bounce. the ftse futures are up a little more than 0.25%. the u.s. government bo

i am anna edwards alongside matt miller. say, is thiss constructive? touching theirs lowest level in three years. a european futures pointed to a bundsath as boones -- touch a record low. the cash trade is less than 30 minutes away. ♪ >> another round. after aosedived tweeting spree. we spoke with mike pompeo. >> reciprocity, core concepts. when that happens, asia will thrive. a specialposes dividend after second-quarter results. hear from the ceo after the open. a majority of just one. boris johnson's lead in the commons cut to a thin margin. strategy for brexit under threat? >> we are less than half an hour from the european open. i have a chart of german bunds going back to the 80's. -48 basis points in concerns about the escalation in the trade war. we have some big superlatives in terms of equity futures. i saw futures down the most they have been sentenced 2009. -- since 2009. ftse futures, down a little more than 1%. what you see. >> we see pain for risk assets. tape in thethe session is one of pain. you can see that written here. equities selli

matt miller asked him about what he would say to policy makers about rates and impacts. >> what reallyes if you lower the rates by another 10 or 20 basis points? is there any house that you want to buy additionally or whatever? from my point of view, it's unclear what the benefit of this lower rate is. nevertheless, if it happens, you need to deal with it. it will put up additional pressure on the sector in general. we will need to see how the answers can look like. matt: the idea is they have no other choice, right, because of the issues, that helps your customers continue in business. and that means more business for you. does that not make sense to you? stephan: no, in general that makes sense. that's what the benefit of the last year is. the question is, does the additional create an effect or the collateral damages which it also produces, do they really outweigh the positives? how important is the fiscal side of things? i spoke with a olaf schultz in berlin last week. he said there is no financial crisis. germany doesn't need additional spending. he's not going to boost his spend

i am matt miller in berlin.ng down at the pound, which is falling down against the dollar. 1% is the drop in the cable rate and bbcines from i-tv that the queen will be asked to rogue or suspend parliament. real movement. on these reports. i want to bring you another breaking headline. i think especially key in light of the trade war, google is going to shift its pixel production. pixel is a google phone. it will shift production from vietnam to china. you hear about tim cook going to a dinner with president trump and complaining that samsung has an advantage because it does not produce its products in china, but rather in vietnam or korea. and then you think, why doesn't tim cook move his production outside of china? that's what the president wants them to do. google is going to do that, shifting production of its pixel phone to vietnam from china. nikkeinikkei this is according to -- this is according to nikkei. let's get to kamal sharma from bank of america-merrill lynch. you are the director of g10 affect st

i am anna edwards alongside matt miller in berlin. oomberg that ultra long bonds are under serious consideration. stocks and futures trading mixed ahead of and other data heavy take-- another data heavy -- day. the cash trade is less than 30 minutes away. ♪ anna:

joining me now is a former fbi agent who is in charge of the active shooter program, and matt miller former chief spokesman for the justice department. catherine, tell us about how the fbi approaches these cases? as chris wray testified, until someone becomes violaent you can't investigate them for their speech if it's a domestic case. >> it's true. before the violence, you can do investigation. but it's challenging. i've worked domestic terrorism cases myself in the midwest whether i was up in wisconsin. it's a challenge because we're looking for behaviors, incidents, things they might be doing as opposed to in a hate crime situation where you have a clear articulation of something that's in paper or in words that goes beyond -- that reaches past the first amendment protections to incite. >> this is a problem that attorneys general have coped with. when you were at justice, when do you decide when someone is a danger to the community? >> it's a tremendous challenge with respect to international terrorism and domestic terrorism. there are three things the government needs to do. cong

i am matt miller in berlin alongside anna edwards in london.is what the stoxx 600 looks like. 412 going down, 179 to the upside. so a bias to the downside, focus of the italian banking sector. let's start with the movers higher. 10% andup by as much as they produced organic sales numbers. this pharmaceuticals company in london also going higher. keiss, also anrt earnings story. a number of stocks managing to buck the downward trend because of the internal growth stories. let's turn to the downside, here you will see a lot of italian names. salvini talking about how the governing -- government no longer has a majority. yieldss we see the blowing out on italian debt and has a read across into the italian banking sector. unicredit trading weaker. intesa sao paulo, also weaker. we also see some of the mining names weaker. let's get a bloomberg first word news update. the u.s. is holding off on a decision about licenses to u.s. companies wanting to restart business with huawei. required after the white house added the telecoms giant to a blacklist y

joining the table former chief spokesman for the department of justice, matt miller.ead the story three times. i was going to make up a story about how whack ado i think it is behind the scenes. i would write this. including the stuff we want something black and spiky. >> i think the number of ethical transgressions were in this story are staggering, even for this president and administration. start with the money he's using wasn't appropriated for that, it was for the defense department, and he's taken it, probably illegally but the courts will decide, to build a wall. he's intervened in the contracting process to direct the contracts to politically connected donors who book themselves on fox news and are close to republican senators. >> that alone would get a president impeached. >> absolutely. and he's trying to seize land without going through the legal process and tell his aides he will pardon them if they break the law. the thing that worries me the most and animates me most, he thinks he has to build this wall to reassure his re-election. there's a little over

i am matt miller in berlin.tes into the trading day, let's take a look at how things are shaping up in terms of individual movers on the stoxx 600. it is up almost two points of this morning. the gains are led by nestle, lvmh, and british american tobacco. so now we see some defensive luxury stocks on the rise, leading the way. on the downside, you have still got drugmakers weighing on the stoxx 600, as well as minor -- miners. let's go to bloomberg first word news. >> thanks, matt. volcker 2.0 is here, looking more like a tweak. regulators have rolled out the changes to the rules and limits banks must follow. wall street lenders have been pushing for some updates for the better part of a decade. there hardly be transformational changes needed to spark a revival. the u.s. economy does not appear to be headed towards a recession according to san francisco fed president mary daly. she wrote that domestic momentum is pointing to continued expansion. her comments echo those from the white house looking to downplay f

i'm matt miller in berlin, 30 minutes into the trading day.e a look and see how markets are shaping up in terms of individual movers. first off, a lot of gainers this morning, 551 stocks are up. only 60 stocks are down. nestle helping to add the most points to the stoxx 600 index. novartis and sap ringing up the rear. suffice it to say, almost everyone is up. ams is the biggest loser, off 12% after offering over $4 billion entering into what could be a bidding war for the car, light, and sensor maker. rolls-royce, not the automotive brand owned by bmw, down more than 2%. and then you see banko bill bow off, as well as kb see group. apbvik down after they run at the beginning of next year. that's a look at some of the movers. let's get bloomberg first word news with olivia hows in london. olivia: thanks. violence intensified as hong kong faced its 10th week of protests. demonstrators help projectiles. police responded by firing tear gas. the clashes followed three days of demonstrations at the airport friday. at least 32 people have been killed

i am matt miller here in berlin.nutes into the trading day at the individual stock movers this morning. screenpull up the moves in order to show you the stoxx 600. up, 50 down.tocks very much to the upside. we are seeing some of the defensive stocks on the downside, giving up some of the gains we were seeing last week. now one of the most offensive stocks is a big gainer this morning in terms of point additions. full 10th7%, adding a to the stoxx 600. you have bp gaining on a higher oil price. nordis is taking the most away. it is a heavy stock. m falling this morning, though not very much. you do not see big drops in terms of the few stocks falling in frankfurt. let's get the first word news. for that, we go to annabelle droulers. the iranian tanker fromset s gibraltar'sa --i set sail from gibraltar seems to be heading to greece. it was released after being detained on suspicion of hauling oil to syria. doing very well. that is how president trump has categorized trade talks between the u.s. and china. he suggested

then the cuts are going to come fast >> caterpillar is trading down another 2% today matt miller pointedut to me if you see it move below its late may, early june closing, and stay there, close there this morning, then that could be another rough signal about the global economy, and certainly we're seeing some of those pain pockets in places like industrials right now. the other key question to all of this, though, is what happens with the fed >> yeah, and i think there's a certain new round of anxiety about what the efficacy of a future round of global rate cuts will do to help prop up the global economy obviously, it worked, may not like it, but it worked in the last ten years it's not clear if suddenly there's a massive new round of global rate cuts we're going to get the same response, particularly being in negative yields throughout europe right now. i think there's another additional overlay of anxiety about that this is a lot. when the two biggest things that move the market have happened in the last week or so, people say why is it so weird in august well, global round of rate cu

i am matt miller in berlin. today, the markets say ignore what the fed said.hey are going to keep cutting. investors disregard the latest meds from the central bank. european futures are pointing lower ahead of a data heavy morning. cash trade is less than 30 minutes away. ♪ back-and-forth. investors wait for stimulus clues from the ecb accounts, as pmi data today is set to confirm further contraction for european manufacturing. fed'sak with kansas city astor george today at jackson hole. angela merkel's 30 day challenge. the german chancellor gives boris johnson a month to find a brexit solution, though francis says a no deal is -- france says a no deal is most likely. >> if we approach this with sufficient patience and optimism, as i say, we can get this done. silence onbreaks its the unrest in hong kong, as the city faces an earnings recession not seen since the financial crisis. good morning and welcome to "bloomberg markets: european open." the three-day moves on the 10 year yield, just up and down, up and down. yesterday's spike was after we got the minu

i am matt miller in berlin. let's see how things are shaping up in terms of the stoxx 600 index.s screen here, most stocks are gaining. , 559 down. gain due to strong results out from the u.s.. -- u.s. competitor salesforce. on the losing side of the ledger , even a small drop in total is enough to drag on the index. you have got other stocks that have gone ex dividend, which is why you see the big drops. let's get to first word news in london. hong kong's political crisis could trigger a global recession. that is according to harvard economist carmen. she cited the city's turmoil among major concerns along with the u.s.-china trade war. antigovernment protests have been going on for months and is starting to put serious pressure on hong kong's economy. >> these are not segmented regional effects, these are global consequences. pointould be a tipping that could trigger a significant global slowdown, even a recession. >> president macron has called on the g7 to discuss what he describes as an emergency in the end zone. brazil's -- amazon. brazil's policy has come under scrutiny. t

i'm matt miller in berlin.trading day and let's see how things are shaping up in terms of the individual movers on the stoxx 600. almost 500 stocks down, only 100 are gainers and the one gaining with the exception of the oil producers, bp and total, are all defensive stocks. sanofi,gains in glaxo, nestle, novo nordisk, deutsche telecom, vodafone are up. very defensive sectors rising along with the oil producers. on the downside, you see pretty much everybody else. 5%kel is one that is off because it is warned on 2019 profit but you also see the luxury goods, lvmh and kering falling as well as novartis, prudential, banco santander and hsbc. let's get the first word news with olivia hows in london. . olivia: italian deputy premier salvini will have to wait before consolidating power. senate leaders have failed to agree on the day for a confidence vote in the populist coalition but discussions will continue tonight. if there is a new election, salvini's lead in the polls mean he will likely be the next prime minis

. >> matt miller, what are you going to be looking for in the next debate?> i really do want to see the interactions between elizabeth warren, bernie sanders, and joe biden. kamala harris showed she's along to take a swing at him, delivered a pretty effective one in the first debate. i'm really curious to see whether those two senators are willing to. >> and the field will be much smaller in september when we see the next debate. so far eight candidates have qualified so we'll have to see if more do. all right. thank you for a fantastic conversation. matthew miller, faiz, thank you, and mike memoli, great reporting. >>> ahead, a new challenge for 2020 candidates, more than half of democrats in the house won an impeachment inquiry against the president. how that could impact the presidential race. >>> and later another republican lawmaker rushing for the door texas congressman will hurd says he won't seek re-election. could there be more in the way? we'll take a look when we come right back. way we'll take a look when we come right back ♪ more, more, more ♪ h

i am matt miller. >> i'm nejra cehic from bloomberg's european headquarters in london.avens gain as donald trump says planned trade talks with china could be called off. this as goldman sachs says a u.s. recession cannot be ruled out. seize the day, italy's premier says an exit from the eu has never been his plan. he spoke exclusively with bloomberg. >> i don't think anyone is scared of democracy. we ask for elections. one should be scared if we were saying i don't want elections. we are not a leading -- not letting people vote or coming it was strange governments. we just want people to vote. nejra: tense weekend of protest. hong kong takes another violent time. we are live from the city police headquarters. and saudi aramco releases earnings for the first time. we will hear from the cfo later this morning, don't miss it. ♪ matt: good morning from the german capital, let's take a look first at a couple of the market prices, you will see the influence trade. you might wonder why asian markets are gaining right now. thanuan fixing was weaker some may have expected and it

bloomberg's matt miller spoke to the president of the evo institute. >> the situation is becoming increasingly dire. we see that. the weakness focused on manufacturing is now spreading to other sectors. alix: for more we are joined by our correspondent in frankfurt. walk us through some of the details. reporter: indeed, there was more bad news coming from germany and that was business confidence at the lowest level in almost seven years. very just heard, it is a dire reading, both expectations and current assessment components of the index fell. it comes on top of other bad news we had last week. the german economy contracted in the second quarter, and bundesbank now expects that contraction will continue. they still say that probably is not technically a recession. we are still seeing just a small drop. but nonetheless, it is a worrying sign. so far, the concern has been this is just manufacturing. for the time being, the is still internally strong. unemployment is low. this is holding up the domestic economy. this seems to be spreading inwards to the domestic economy, and that is a big quest

matt miller's interview with the cfo of commerzbank bordered on outrage.g, jp morgan normalized back to 2016. barclays is trying to keep it together flat. german banking, represented by deutsche bank, is an unmitigated disaster. write thee move to banking system? nicholas: very little. they do not appreciate the value of their banks to the degree the brits and americans do. it is not a popular system so righting this is difficult. the merger talks, you could say that was an attempt to do something. for the banks them selves, it is sparse pickings. francine: how worried are rate about companies like deutsche bank refocusing on the german economy at precisely the time when we could see a big downturn in the economy? nicholas: absolutely. that is the key worry that many are voicing. you guys are going to be less global, more europe and germany focused at the exact moment things are turning south. it is desperation on the side of the bank that they cannot name taino's aspirations anymore. those global aspirations anymore. lowsing back from historic , it is an