then we speak to sap ceo bill mcdermott. then we are going to be talking about all the equity market action. we are heading towards the market open. it is 19 minutes away. there, busy morning out and we will talk about the market action as we run up to that. this is bloomberg. ♪ guy: we've got some changes at the top. roman is ceo emanuel stepping down to become the new ceo at pimco, replacing douglas hodge who presided over tumultuous time at the firm. we are joined by ryan chilcote. new boss pretty well. he's been based in london. give us the background. group,e has been ceo man the world's largest publicly traded hedge fund, since 2013. you can go on the bloomberg and look at how he has performed versus his peers. during that 10 year, he outperformed his peers, 12% -- 2%.eturn, versus 2% it was a very difficult time for man group, clients pulling out money, trouble with the funds. is he didl feeling well. pimco putting out a note saying, we think his experience with global markets, investment strategy -- pimco itself is i

mcdermott: thank you, mr. speaker. i ask unanimous consent to place in the record an editorial from "the washington post" called, the myth of paul ryan. the speaker pro tempore: without objection, so ordered. mr. mcdermott: the 2 nd of june -- 22nd of june was an historic day in this house. you could look at it from two different positions. one was, it was the day that the speaker was going to roll out finally after 2,000 days his plan for health care in this country. unfortunately for him, in the well of the house, the democrats decided that maybe common sense gun legislation was more important. this bill was supposed to come up that day. but instead it was put up for today and then it was put up for tomorrow. it's important because this is a fundamental underpinning of the undoing of -- of a.c.a. for this country. ow, now, there was a feeling on this floor that it was more important to talk about commonsense gun legislation, that people were out there worried about it and we've stood around here again and again bowin

we've got bill mcdermott. that is the conversation in the next 15 minutes.move it is 7:30 in london. i am guy johnson. i'm alongside caroline hyde over in berlin, which is where theresa may is going today. may meets merkel. europe's two most powerful leaders size one another up. can they see i to i on brexit that is the big question? timko poaches ceo many roman after three years on the job. he's going to californi

you can see terry mcdermott at the song bird in adams morgan.k to you, susan. >>> and another magical experience will get under way under the big top in tysons. the new cirque du soleil show starts today and features a local performer who will have one big stage. news4's from tysons. >> it's the world's largest trampoline. 30 foot by 40 foot giant net that we use to shoot ourselves in the air. >> reporter: d.c. native ryan murray jumped into his dream job, the creation of the new cirque du soleil show. >> i play a fish in that act. my role is to appear in a lot of other scenes as a broadway company member. >> reporter: under the big top tent that took 40 people to raise, the georgetown prep grad is home to perform in front of his family, including his biggest fan, his mom. >> before my act, i'll do a few jumps on the trampoline to get my brain sorted and then go out and rock it. >> very cool. now after the break, we will introduce you to a maryland woman whose olympic dream starte on thed it's a great day for an adventure. surprises are hiding a

you heard the reports tori spelling her husband dean mcdermott are having financial troubles. we obtained the court papers confirming it. there w lien against their property. new court pape state she and dean owe california big with a hefty tax lean of $260,000 comes from unpaid stat taxes from the year 2014. they both earned money that year, but apparently didn't pay the tax man. dean made a guest app on "csi" while tori headlined the series "mysterygirl" with jenny garth. >> just because i'm an actor, just because i'm on tv d mean i don't make financial choices that aren't good. made really bad ones. addressed money trouble reports. in 2013 she admitted she and dean struggled with their bills. >> we see celebrities and it's glamorous, they have all this money but everyone has share of problems. >> the lien means the state can go after a assets they might own. >>> moving on now, talk saturday which was the world premiere of "ghostbusters." kevin frasier was the first on that red carpet led by melissa mccarthy who shut down hollywood boulevard with the paranormal pandemonium.

mcdermott. mr. mcdermott votes aye. chairman upton? >> votes no. >> chairman upton votes no. >> that's the -- we have proxies for i think all of these members. how is mr. sensenbrenner reported. >> he's not recorded. >> i have a proxy. he votes no. >> mr. sensenbrenner votes no. >> how is mr. moreno reported? >> he's not recorded. >> i have a proxy. he votes no. >> mr. moreno votes no. >> how is mr. mccarty. >> not recorded. >> i have a proxy, he votes no. >> mr. mccarthy votes no. >> mr. chairman. >> how is mr. smith recorded? >> mr. smith is not recorded. >> he has a proxy, right? >> i believe the only proxies i have is mr. conyers just returned. >> how is mr. conyers recorded? >> i vote aye. >> mr. conyers votes aye. >> how is mr. lujan recorded. >> he's not recorded. mr. lujan records aye. >> how is mr. green recorded? >> he is not recorded. >> i do not have a proxy for mr. green. >> so are there other members that are not recorded? yes, you may. yes, the conference -- it's my understanding the conference allows conferences allow f

mcdermott: i urge my colleagues to vote no. the chair: the question is on the amendment offered by the gentleman from michigan. those in favor say aye. those opposed, no. >> i'd like a recorded vote on that. the chair: pursuant to clause 6 of rule 1, further proceedings on the amendment offered by the gentleman from michigan will be postponed. it is now in order to consider amendment number 35 printed in house report 114-639. for what purpose does the gentleman from michigan seek recognition? >> mr. speaker, i have an amendment at the desk. the chair: the clerk will designate the amendment. the clerk: amendment number 35 printed in house report 114-639 offered by mr. huizenga of michigan. the chair: pursuant to house resolution 794, the gentleman from michigan, mr. huizenga, and a member opposed each will control five minutes. the chair recognizes the gentleman from michigan. mr. high zen fwa: i yield myself such time as i macon susme my amendment would prohibit any funds from being used by the s.e.c. to implement, administer t

mcdermott: mr. speaker, during my 28 years representing seattle in the congress, there have unfortunately been several mass shootings in my district. including one in 2006 at the jewish community center, and another one in 2014 at seattle pacific university. i know the pain and the frustration of members of the delegation from central florida are feeling three weeks after the shooting in orlando. as a psychiatrist i know and understand the trauma that these types of violent events inflict on individuals and communities. as someone who is around congress in 1994, when the first assault weapons ban was passed, and in 2004 when it expired without action, i thought it would be useful to talk for a few minutes today about the history of that ban and how congress capitulated to the gun lobby and allowed weapons designed for killing to flood our communities. congress began consideration of assault weapons ban after too mass shootings in california. in january, in 1989, a disturbed man with a long criminal

this, after cuts mcdermott made, the company right sized the ship.50 target is about 50% more upside on a stock already at 50% this year. however keep in mind it was a $33 stock in june 2008. >> what's mcdermott do? >> oil services. >> like off-shore? >> no, onshore. so they might do a little bit of both but they've got three big projects they are working on in saudi arabia. down a couple of bucks. >> now 5. >> now 5. and they think they are going to 750. >> so when you buy. >> yeah. been a great stock if you owned it for about four months. >>> street talk. now time for trading nation. let's take a look at stocks as a whole as the market digests the statement. chris with stra teeth ib research partners, larry, earlier in the show, i said during our fed seg amount that who cares a quarter point rate hike means nothing. and writing in politely and saying brian, like it but you're completely wrong even quarter point with the leverage in the system is a bad thing. he is right? >> he is spot on right. one of the things that we have been sharing with our b

was ill mcdermott from waldorf germany, speaking earlier today.'s take a look at s&p shares five minutes away from the european close. and 1998their highest on a closing basis, one of the best performers on the stocks 600. let's take a look at the stocks 600, seeing gains of more than 1%. all headed higher. the euro pretty much unchanged but it did hit a three-week little earlier. german 10 year yields up one basis point. this is bloomberg. ♪ nejra: live from london where it is a nether sunny day after the hottest day of your yesterday, you are watching the european close. stocks finishing up the day in european trading. let's take you through all the market action. inhave seen some up and down european stocks over the past few sessions with the stoxx 600 oscillating between gains and losses. today, up more than 1% at the close. we will have a look and dig into those industry groups. carmakers stocks and have been leading the gains. thanks not far behind. most industry groups gaining. a lot of individual stocks to watch because a lot of optimism h

mcdermott indicated it's amendment oll-16797. are there other members wishing to speak against the amendment so the gentleman yields back? >> i yield jack? and are there members on the house side willing to speak in support of the amendment? i see none. the vote occurs on the amendment adopted on the senate side offered by mr. lah leahy and grassley. in the opinion of the chair, the noes have it. the amendment is not agreed to and that's the way that it is. the next amendment is -- the gentlelady from washington state, ms. murray has an amendment at the desk. i understand it's hey-16852. and we'll have the staff -- clerk will report the title of the amendment. >> amendment to the conference report for s-524 offered by ms. murray. >> and this amendment will be considered as read and the gentlelady is recognized for five minutes. >> thank you, mr. chairman, local v.a. medical centers have patient advocates that are responsible for hearing complaints from veterans seeking care and helping them get the care that they need. but the v.

mcdermott: thank you. mr. speaker, i ask unanimous nsent to bring up h.r. 1217, the bipartisan expanded background checks legislation. it's really to honor the memory of paul terrell henry. he's a victim of gun violence in orlando who never received a moment of silence on this house floor. the speaker pro tempore: as previously announced the unanimous consent request cannot be entertained. the gentleman from colorado is recognized. mr. polis: mr. speaker, i would like to yield to the gentlelady from california who has a motion that will break through this republican obstruction and save lives. i'm honored to yield to the gentlelady from california -- the speaker pro tempore: the gentlewoman from california is recognized. ms. brownley: i ask unanimous consent to bring up h.r. 1217, the bipartisan expanded background checks legislation in onor of the memory of landon dooley, a victim of gun violence who never received a moment of ilence on the house floor. enough is enough. put this commonsense legislation forwa

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new court papers confirm she and husband dean mcdermott owe the state of california nearly $260,000 inust cause i'm an actor, just because i'm on tv doesn't mean that i don't make financial choices that aren't good. >> number 4, dr. phil sues the tabloids. the suit claims a.m.i., publisher of "national enquirer," "star" magazine and radaronline, has published more than 80 false articles about the mcgraws. in a statement to "e.t." dr. phil's attorney states, "many of the articles have focused for years on allegations that doctor and mrs. mcgraw are on the verge of a divorce or have decided to file for a divorce." his lawyer also states the couple of nearly 40 years are "role models for the happily married." the publisher's response? "a.m.i. looks forward to successfully defending itself against dr. phil in a court of law." number 3, the new emmy nominees. >> would you present your tv wife with some flowers, please? >> all right. >> from the "black-ish" crew to the cast of "the people versus o.j. simpson," we stars celebrating their nominations. ph phillip k. brown played chris darden. z

thank you and i yield back to the chairrecognizes the gentleman from washington state, mister mcdermott area . >> thank you mr. chairman. i ask unanimous consent that to enter into the record a letter to the chairman 53 senators and 12 members of the house. >> without objection. >> dated five july. the issue here is whether you're going to put the resources, you heard it over and over and over again area we are preparing today on the floor of the house to adopt a mental health bill that has no money attached to it. you are not going to fix the problems we are talking about here today with good legislation perfectly designed policies, policies are wonderful but you have to have money to implement them. and that's clearly what is the problem with this particular piece that we are working on today. you would have a unanimous nature list at the end of this conference if there were some money. but if there is no money in it, it becomes, it's like building a house. you say we got a housing problem so let's build a house. then you build a nice shell but you don't connect the electricity. you d

, we haven't mentioned sap and it had a remarkable quarter and one of the reasons they did, bill mcdermottthank you, european strength. a continuing theme. the trades are too low in europe and anyone who buys the german 10-year is an idiot. i shouldn't say that. >> what do you mean buy? you pay to own the german 10-year. >> you agree to lose money. >> don't contractually buy that. >> it's a contract to lose money. make a contract and lose money over a 10-year period would you take that? >> i would not. >> lots of people are. billions of euros worth. >> trillions. >> luna. >> i around the world. >> lunacy. buy our treasuries, you make something. everyone in this room agreed to lose money. >> finally microsoft is up. the extent that microsoft is not just about that but a reflection to a certain extent of growth within technology spending, jim, to our earlier conversation about the economy and whether -- >> correct. >> 20 multiple maybe will be justified by a period of growth that is to follow, can i make that argument? >> yes. and what i think you have to do is say first there's a dip as peo

stacy mcdermott tweeting that we have "a real melting pot at the convention here."ew hampshire public radio a mixture of sanders and clinton delegates at the breakfast. from a delegate, "standing ovation at the maryland breakfast for representative elijah cummings as he walks into the delegation breakfast today. all the delegates here love him." viewers know he is a figure because of the top democrat on the benghazi committee. he declined to run for the competitive open senate seat in maryland. that is being vacated by a retiring senator barbara mikulski. back live in philadelphia, getting your reaction to michelle obama using the phrase "america is the greatest country on earth right now ar." richard, what have you got? caller: good morning. i think this has been the greatest country on earth for me at my family and we have been very fortunate to live in the united states. unfortunately, america's dream has not come true for everyone. and maybe with bernie sanders policies, it can be. thank you for letting me talk. from mike calling washington, oklahoma on the repu

mcdermott: mr. speaker, i was impressed this week with the release of the long-awaited chilcott report from the united kingdom's inquiry into the iraq war. while the main conclusions of that report should be familiar to all of us, that the u.s. and britain justified the invasion of iraq with flawed and manipulated intelligence and that subsequent preparations for post-invasion iraq were woefully inadequate and mismanaged, it is nonetheless an overdue public accountability of british leadership and the -- and detailed and searing rebuke that no member of the bush administration has ever undergone. during his news conference, mr. blair said, i express more sorrow, regret, and apology than you can ever believe. mr. speaker, what's the chance that we will ever hear those same remorseful and contemplative words from mr. bush, mr. cheney, mr. rumsfeld? it's virtually nonexistent. god forgive us and them for our indifference. iraq never will. the speaker pro tempore: the gentleman yields back. for what pur