leaders met with president mattarella on tuesday.no new coalition is formed, president mattarella says he will dissolve parliament, triggering elections three and a half years ahead of schedule. least 40 people are feared dead or missing after a boat carrying migrants bound for europe sank off the coast of libya. the u.n. refugee agency says 60 people have been rescued so far. naomi lloyd the details. naomi: the bodies of those who did not make it. earlier in the day, they voted -- boarded a boat, but shortly after leaving a coastal city, the boat capsized, with dozens drowning. wasfter the boat sank, it over. people were really scattered everywhere. i brought my children to the surface. the boat had totally sk. i could not save them. relief at those who were rescued, after libyan coast guards and local fishermen picked them up. most of the survivors are from suydam, with others from egypt, morocco, and tunisia. around 900 people have lost their lives trying to cross the mediterranean this year. the u.n. is calling for urgent action

only mattarella has the power to nominate a new leader.o time to enter formal discussions. do you think you could put up with a 20 hour nonstop flight? qantas will run test flights from new york and london to sydney starting in october. the boeing 787 will only carry about 40 people, most of them employees. they will undergo a series of medical checks. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm kailey leinz. this is bloomberg. vonnie: thank you. on that note, that's, what, six movies and may be couple of sitcoms? i think it's totally doable. guy: i think you are right as well. it's basically a day and a night. you can already get 19 our flights-- get 19-hour to the other side of australia. the thing is, do you want to or doha?ubai ord -- they built all these mega hubs in the middle east to try and basically provide a stopoff point, change airplanes, and then go down under. you've got to wonder, if you can go direct, tim clark over at emirat

mattarella has to accept the resignation. tomorrow, likely tomorrow morning, he will start consultation with the party. the, it is in the hand of president. mattarella will have to see if there is a chance to form an alternative majority in the new government. if he does not see those chances , next election. if he sees any possibility, he will name a new prime minister and ask them to form a government and seek a confidence vote in the parliament. the story behind the scenes is that the democratic party and the five stars, which used to be enemies until a few hours ago, are now discussing and awaiting the possibility to form an alternative majority. essentially wanted the next election to get consensus he has now, he is close to 40%, may be left out of the game. david: how ironic. mr. salvini may have overplayed his hand. thank you to tommaso ebhardt in milan. now we go to washington. let's start with president trump. what we know about his approval ratings? are people starting to get nervous about the economy? >> i think pe

mattarella has to accept the resignation.rrow morning, he will start consultation with the party. the, it is in the hand of president. mattarella will have to see if there is a chance to form an alternative majority in the new government. if he does not see those

in italy, president sergio mattarella has started talks about the next government. he will have to decide whether another ruling coalition is viable. government is one of the options after the prime minister giuseppe conte. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm kailey leinz. this is bloomberg. guy: what to take you to some pictures we are seeing out of hong kong right now. protests seem to be ramping up again tonight. you can hear the noise on the street. it is 10:10 in the city. we are seeing protesters building barricades, the police are beginning to form up as a result of that. we are going to continue to monitor the situation as it unfolds throughout the night in hong kong. this is bloomberg. ♪ ♪ live from new york, i'm vonnie quinn. guy: from london, i'm guy johnson. this is "bloomberg markets." let's get a market update. here with the details, emma chandra. emma: we are looking at the u.s. , following europe into the green. ,he s&p 500 rising some 8/10 ver

>> so yesterday all of the respective party leaders met with president mattarella.had consultations and at the end we heard from all of them and they gave a speech to the public and salvini said look at the end of the day, this is an alliance, a strange alliance with two people who in the past have been sworn enemies. it's very strange that all of a sudden five stars seem to change the way they think about things. similar perspective. we will never change our mind. we are happy to be in the opposition side and he said even if it takes three months, six months, nine months, we're waiting in the opposition for that snap election to be called so that we will even actually get our chance to lead the italian government again but not so fast, because since he pulled the plug in the coalition a little over a week ago. they were pulling at around 38%. they're down to around 33% now in exchange for that we've seen a rise in popularities and around 23% and a little bit of momentum so it's not so clear cut here. especially given that if another election were to be held he woul

let's listen to its knees president sergio mattarella. welcome temple or you delete it. i have the g. t. to request. in the interests of the country the quick decisions. for marvel holds me consultations which will begin next tuesday in order to reach a conclusion. and to make the necessary decisions. a performance and visual imageges sonya. noww this book with our cocorrespondent in rome for the will and i asked him how he thought the situation without. things are really hangingng in the e balane say here at the moment. yeah it's a very uncertain situation that. commentators of being calling it says to bring a little at that school crisis. and in fact no just a crisis of the government. yeah but a crisis of the italian political system. i think they do have a point. the five star movement. is being a container of. hi good okay system this man to gay sits on a political system. and it said did extremely well in the elections in march of two thousand and eighteen. but the consequence of that tasted tape to is a container of all sorts of different views and opinions. so it

italy, president sergio mattarella has started talks about the next government.will have to decide whether a new ruling coalition is viable, one of two main options after the resignation of prime minister giuseppe conte. the other is to call new elections. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm courtney donohoe. this is bloomberg. vonnie: thank you. let's get a check on global market with abaco doolittle. abigail: setting up -- with abigail doolittle. abigail: setting up to be more of a risk on day. the s&p 500 and the nasdaq both up after yesterday's modest pullback. the german dax is higher, 1.2%. the asian session, mixed results. smaller moves there. uncertainty continues to pervade investors around trade, the economy, and the fed. we will be receiving the fomc minutes later today. the risk assets certainly confirm sector was. all 11 sectors for the s&p 500 are higher. on bottom, some of the defensive sectors such as utilities and consumer staples. investor

what happens now is up to the president, sergio mattarella. he has the power to call new elections, which needs to happen within 70 days' time. this is what deputy prime minister matteo salvini is hoping for. he had fourth a no-confidence motion against the prime minister and said he could no longer work with his coalition, five star. it was a an attempt to capitalie on the growing popularity of his far right party. >> i would do everything i did again, everything. i am a free man. i do not fear the judgment of the italian people. the league is pulling in first place at just under 40%. took just under 17% of the vote in elections last year, but president matta rella can look if they can form an alliance, it means salvini's gamble will have backfired, but there is a new chance and new coalition without a new election would alienate voters and further boost his appeal. there is a third option for the president. he can install a caretaker government. in any case, the upheaval comes at a sensitive time. italy must present its draft budget for 2020

with an agreement results from negotiations so far italian president sergio mattarella extended the deadline until wednesday with this comes off to my two sided beanie almost all right leave policy pulled his support from the ruling coalition earlier this month his. small from philip whalen speaking to us from rym. sticking point is being that our personnel. who's going to lead this new government. that initially the democratic party didn't want i just called today to come back. they didn't want continued to you with that hello see the continuity with the previous government. they've now made a concession on that and that's been a very important breakthrough. concern today. and the new sticking point is to be read you do meio. because they don't want him in a really important role. in the government they don't want to miss a deputy prime yet for example as he was before and there was i don't want to set up where you have. i called to ask. me yeah impartial lead that and the leaders of the two. main parties in e coalition as deputy prime yeah that would be at a repeat. that and that is just t

if it passes, the initiative would then fall to italy's president, sergio mattarella, who has the soleh to buy medical iodine in russia's far north, following a rocket accident that lead to a brief spike in radiation. according to local media, pharmacies are selling out of their iodine stocks in the cities of arkhangelsk and severodvinsk. iodine can block the thyroid gland's take—up of radioactive chemicals, but it can also cause health issues. five people died in thursday's accident at a test site. norwich cathedral — one of the oldest in england — has installed a realfairground helter skelter to allow visitors a closer glimpse of its medieval roof. it hasn't escaped criticism though — one bishop has called the move ‘a mistake'. our religion editor, martin bashir, went to take a look. amid the ancient cloisters of this hallowed place, not the sound of evensong — but a fairground ride. it is faster than i thought it would be, it is good fun. really good fun. didn't make you think about anything more deeply? if i am honest, no, other than what a random thing to have in a cathedral. i th

we begin in rome, where talks continue between president sergio mattarella and other key players in aurkish president tayyip erdogan will make a one—day visit to moscow to hold talks with russian president vladimir putin. and finally, today is the day when teenage climate activist greta thunberg is expected to arrive in new york after sailing across the atlantic in a yacht. now it‘s time to get all the latest from the bbc sports centre. hello, i‘m tulsen tollett and this is your tuesday sport briefing, where we start with the tennis news that defending men‘s champion novak djokovic is through to the second round of the us open in new york after a comfortable straight sets win over spain‘s roberto carballes baena. there was an early upset in the women‘s singles with a first round defeat for the former champion angelique kerber. the number 14 seed was beaten in three sets by kristina mladenovic knocking out the german, who won the title at flushing meadows in 2016. saudi arabian‘s al—nassr came from a goal down to beat qatar‘s al sadd and take a 2—1 lead into the second leg of their asi

if it passes, the initiative would then fall to italy's president, sergio mattarella, who has the soleneeds laws "fit for the digital age", to take into account the rise of companies like facebook and google. the independent body which regulates party and election finance, is calling for greater transparency, and more powers to investigate campaign spending. here's our media editor amol rajan. are you going to vote liberal on thursday? certainly, yes. very good. and my boyfriend. not so long ago, the most effective political campaigning took place face—to—face and door—to—door. such campaigning still has its place, of course, but today the persuasion machines of social media offer a more efficient route to voters. in just the past month, conservative spending on such ads has boomed, fuelling rumours of a snap election. what is the attraction of social media platforms like facebook to people who have a political message they want to get across? it's really incredibly low cost, and it's really easy—to—use. anyone sitting on their own can get open a laptop, they can create a page, they ca

with alternately it'll be up to president sergio mattarella to decide whether to dissolve parliament and call elections. hung kong's chief executive carrie lam has undnderlined her concncerns about the economical comes of full out of two months of protests especially since this unrest comes as china's trade war with the us continues. with donald trump has said the two countries a student talks but are not yet ready to sign a deal here's more from the us president speaking idea about the standoff. china we're not ready to make a deal. but we'll see what happens we call them on. manipulation and they brought their numbers back. then they brought it back rapidly and they were able to do that because they manipulate but- that's not gonna mononetary manipulation not good. but what happened and what's happening with china now we have an open dialogue we'll see whether or not we keep our meeting in september. what in hong kong thousands of pro democracy protesters are keeping up thehe pressusure on the authorities would sustain demonstrations they've now started a three days they send out t

recent polls show him to be the second most popular italian politician after president sergio mattarella while salvini support has dropped.n his resignation speech last week contest slam cell beanie as a danger to democracy. the myth that the media give e me so let me say this the interior minister matteo salvini has shown that he is following h his own interests and those of his party. that video has since garnered two point five million views. the next test will be whether contact can retain his support at the head of another unlikely coalition. this time with the five star movement long time e enemies the center left democratitic party. tell yu politically soul go well that's the look k of british politics with seems to be. even more chchaotic jamie kolbe leader of the official opposition t the u. k. says that he's going to take a whole political action possible to stop the- suspension of parliament mr corbin as well as other senior political figures from all sides. say this is a plot by johnson boris johnson the prime minister to push through a no deal breaks it. well boris johnson a

he had he will he's going to make the president sergio mattarella first thing tomorrow morning. and it's likely that the president will give him the opportunity to go a away. form a coalition government with these twtwo parties and statart to put together a a cabinet. now even though we saw some agreement on keeping the prime minister and how today. now the intenense negotiations going to bebegin on what happensns next who gets the key cabinet portfolios.s. andndw they divide up the cabinet positions. as well as developingng a joint program to keep these two parties together. in what looks like a very fragile coalition. to ski mckenna correspondent that in the room. next yemen's government says its forces of recapped via interim capital of eight. three weeks after the poport city was seized by emirai backed separatists seeking independence the south southern yeyemen thenn a new front comple school which started and goofy rebels backed by iran sees launched waits a territory. leave the capital l sana back in twenty fourteen. let's get the analysis intentions the jones is director

mattarella has the power to either appoint the next prime minister or call new elections.c advisor larry kudlow telling reporters there are still plans for a chinese delegation to visit washington next month. administration officials have warned there are still significant structural issues with china. the equity analyst who warned investors to dump shares of cathay pacific airways is getting a whole lot of heat. he told bloomberg he's never seen so much pressure on a stock rating, issuing his report as the airline was under fire from china and facing boycotts. employeesthay's have joh joined antiaging prote. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm the vienna or cotto. this -- i'm viviana hurtado. this is bloomberg. alix: coming up, falling flat or still sizzling? and if you have a bloomberg terminal, check out tv . watch us online, click on our graphics, interact with graphics, interact with us. this is bloomberg. ♪ this is bloomberg. ♪ viviana: welcome to "bloomber

mattarella this afternoon, the president. he says elections are the way out of the current impasse. i wonder whether the president is entirely convinced. vonnie: you were alluding to it there, something happened the last few minutes, and it could have been a combination of things because we had a few negative catalysts, including theirtocks are up against 50 day moving average, and that may have triggered some selling. 2-10 turningthe negative, still negative at this point. that triggered a selloff. the s&p is now down six tense of 1%. nordstrom did beat, and is looking maybe even more attractive as a target. -- more attractive, as is target. it is up 15%. some dismal data out of europe earlier on. germany making the headlines when it comes to the pmi, manufacturing and services pmi's dropping at the fastest rate in six years. it is a strong signal that europe's biggest economy could be heading towards a recession. negative.ady had one at the same time, the german bund is bank -- the german bundesbank saying it does not see the need for stimulus right now. do you agree with the bund

course, there's a deadline concentrating the mines on both side, the deadline imposed by president mattarellaose holding meetings with key party leaders today and tomorrow. tomorrow afternoon he will meet the democrats and five-star, and he's made it clear to people close to him that he once a definite answer, either success or failure. if it is failure, very likely we will head for snap elections. vonnie: all right, john. thank you. more tweets from the president, no doubt, as well. that is john follain coming to us from italy. let's get more insight on how markets are being affected by develop it's in europe. back with us, andrew sheetz, chief cross asset strategist at morgan stanley. is this just the old playbook we see periodically? andrew: i think it is a really important story to follow. it's happening at kind of an odd time of the year. a lot of the initial attention around this was as a negative story of the prior government coalition coming apart. i think you have the potential here for a different government that wouldn't have the same populist elements that existed previously. i th

sergio mattarella could ask conte to try to form another coalition, that would mean this coalition would be putting out the budget but the concern lastly is from an economic standpoint, as far as markets are concerned, the spread could be a big issue. that could mean our debt could cost more and more to finance. though for now, for the time being, the spread is at levels higher than last week but not at concerning levels. really it will depend on how the market perceives how this goes forward. whether this becomes an actual crisis that affects markets or not. definitely we're in for, as you were saying, shenanigans that are always complex and we need to be cautious and take it sort of day by day. back to you. >> thanks for that as you mentioned, ftse mib is down 0.23 today in trading i want to take you to germany where the economy shrank in the second quarter preliminary data has shown flash gdp fell 0.1% from the first quarter as weaker foreign demand weighed on the country's exports. the annual growth rate slowed to 0.4% in the second quarter but still beat expectations. annet annette

is goingminister conte to resign to president mattarella in a couple of hours. he is going to hand his resignation to the president. tomorrow, likely tomorrow morning he will start with the party. what is next? we will have to see if there is a chance to form an alternative majority in the new government. if he does not see those chances, it will go to the next election. if he sees any possibility, he will name a new prime minister, ask him to form a government and talk in the parliament. manus: the five-star movement and the democratic party are holding talks over a possible coalition. what are the possibilities they work together? >> they do have some common ground. the idea being floated is a limited program focusing on areas where interests do meet. ecology, civil rights. there is the possibility for common ground. it is an open question whether they can bridge over there many differences. >> fed unity appears to be fraying ahead of the annual gathering of central bankers in jackson hole. policymakers viewed the 25 basis point cut and insurance move, but arg

if that vote brings down the government, then the power will go to italy's president, sergio mattarellacaretaker administration from alternative parties. the president, normally a ceremonialfigure, then becomes the key player in this drama. italians are used to this, this kind of trading. it is slightly unusual, though, that it comes in the middle of one of their holidays in august. both mr salvini and mr di maio are deputy prime ministers. but in the last 14 months since they formed a coalition, mr salvini has had a meteoric rise, becoming the most powerful man in italian politics. these are pictures of him on a beach in sicily over the weekend, where he's been out meeting people and taking selfies with his supporters. mr salvini is very active on social media and has developed a "man of the people" image. and his uncompromising stance against illegal immigration has proven particularly popular. his league party is now well ahead in the opinion polls, and mr salvini wants swift elections to capitalise on that. here's james reynolds again. the league a few years ago was simply a small r

sergio mattarella has the power to appoint a president or hold elections. a host of the largest global exchanges are stepping up their calling for saudi aramco. senior officials have been pitching the saudi oil giant in recent weeks. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. bloomberg. nejra: thank you so much. franceeaders gather in this weekend for the g20 summit -- the g7 summit against the backdrop of growing uncertainty, the meeting will provide a chance to address worries. these include tensions between the u.s. and iran and risks of a global recession. joining us now is bloomberg's maria tadeo. looks like a contentious g7. what is at the top of the agenda? a lot of issues. >> good morning. there is a very tight security operation here. this has been a very difficult year for emmanuel macron. the french are taking no chances in what could be an unpredictable g7. officials will tell you we are going to focus on climate change, we want to focus on any quality. what they really -- on any ty.

italian president sergio mattarella will meet with main political leaders come along some rivals fiveleaders, longtime rivals and ther party democrats, to try and form a coalition government. forto rico is bracing a hit from tropical storm dorian, which will bring rains come about -- bring rains, but thaty not the wind affected puerto rico during hurricane maria. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm viviana hurtado. this is bloomberg. david: thanks. so much as we just heard -- thanks so much. as we just heard, tropical storm dorian is set to hit puerto rico today, and may be a hurricane as it hits did to make an republic. with us now is -- as it hits the dominican republic. with us now is dan glaser of marcia mclennan companies -- of marsh and mclennan companies. we hear a lot about climate change, about el niÑos in various storms. is the need and expense of sharing going up? dan: certainly the expense is going up following losses, and lossyear was the largest irma,urricanes harv

isitaly, president matamela -- president mattarella is speaking with government leaders to try and formovernment coalition. tomay give a few more days enter into formal discussions. the amazon rain forest in brazil burning at a record rate. that's according to data from the country's national institute research. between 2018 and 2019, there was an 84% increase in fires there. brazil's president tsai your -- president j your bolsonaro -- president jair bolsonaro says environmentalists to be setting the fires oppose him, without evidence. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. of.to be on art out this is blue -- i'm viviana hurtado. this is bloomberg. alix: unbelievable pictures. we do have some more retail earnings coming out, to the upside again. dick's sporting goods delivering better earnings at $1.26 a share, but increasing their full year's earnings you on the high-end, raising it by about $0 .05. coming up, the savings stamp of approval. deutsche bank now requires ceo christian sewi

in italian, we don't have to listen in, but as you see, he has been handed a mandate by sergio mattarellarunning the government with the coalition there. holder, back to you and brexit. what do you think and what do asset prices?m holder: more of the same, significant uncertainty with sterling remaining seriously undervalued and at a downside risk and less there is positive move. what we haven't seen recently is any significant positive movement. the news yesterday was that parliament has a few days last to stop boris johnson, but also, the very moved to provoke parliament by longer than usual -- has inflamed russians among the tory moderates. hence, for them, the hartle to do something about it might be lower. not much of a change is coming the marginand accentuates the brexit risks. on the european side, what we have seeing is not any move on substance. the e.u. has basically told johnson, that if you can find something avoiding the backstop, something that theresa may and we haven't been able to find for more than two years, if you can find that, please show us, but so far, we in the e

president sergio mattarella will meet with the country's main political leaders.als five-star movement and the democratic party are trying to form a coalition. they want to prevent early elections that probably would be rightist league parties. global news 24 hours a day and on tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. bloomberg. tom: thank you so much. let's look at the data right now. the huge news this morning and the breaking news out of london. ejra will look at sterling. further curve inversion. that's a big difference. .526% percentage point. euro weaker, dollar stronger. onto the next screen, if we could, which really indicates slower global growth, an estimate by the markets. 30 year yields under 2%. renminbi crawls but weaker chinese yuan. gold is not breaking out the new strength. 1550 is something for others looking for gold higher. what do you have in london? yield, myt 30 year attention as well. caught my attention as well. i'm sure peter chatwell has some thoughts. you mentioned cable. there we

he will continue to lead a caretaker government — while the country's president sergio mattarella triesew government. failing that, there will be early elections — which italy's interior minister matteo salvini thinks he can win. giuseppe conte has accused mr salvini of being reckless, and bringing a spiral of political uncertainty and financial instability. here's mr conte speaking in parliament today, with mr salvini right next to him. translation: which have tried to do is a clumsy choice, implying that this is an u nsuccessful choice, implying that this is an unsuccessful government and try to put a block on the left 14 months of work we have carried out. and here's how matteo salvini responded. you have chosen the target. here i am. you have chosen the danger of italy and europe. here i am, ready to sacrifice myself! ready! these are the three men running italy at the moment — matteo salvini leads the right wing nationalist league party. he's a deputy prime minister. luigi di maio leads the populist five star movement — which was the biggest party in last year's election. he's also

a memorial service attended by the italian president sergio mattarella and the prime minister giuseppewas put up for the event near the base of the first pillar for the replacement bridge. now, it's time for a look at the weather. the very latest from simon. quite a bit of rainfall at the moment across england and wales, moving east gradually this morning. this afternoon, things may improve slightly across wales and the south—west of england. as the rain clears, becoming drizzly, but drier spells. heavy showers in north—west england, the midlands, eastern england. thunderstorms mixed in. a few showers further north across england. eastern and southern scotland, northern ireland, largely dry, a few bits of rain on the western edge. quite disappointing temperatures for the time of year, especially with the cloud and rain. tonight much of the rain clears, more showers in northern areas, but into tomorrow morning, clear spells. not quite as chilly as last night. thursday might start a little bit showery with cloud but clearing and lengthy sunny spells developing in the afternoon. feeling a