mr. carney. >> -- next to me is the governor of the bank of england, mark carney. >> thank you, nils.ryone. a renewed recovery is under way in the united kingdom and appears to be broadening. while that is welcome, the legacy of the financial crisis means that the recovery mean rhee ma remains weak by historical standards and there is spare capacity in the economy. this is most clearly evident in the high rate of unemployment. it is now more important than ever for the monetary policy committee to be clear and transparent about how it will set monetary policy in order to avoid an unwarranted tightening in interest rate expectations as the recovery gathers strength. that's why today the mdc is announcing explicit state contingent forward guidance. our aim is to help secure the recovery, while ensuring that risk to price stability and financial stability are well contained. there are clear signs that economic activity has strengthened this year. recent positive indicators led the mpc to revise up growth projections significantly in this inflation report. nevertheless, even under the ass

situation where the central bankers many of them former bankers themselves such as the recent arrival mr carney as the head of the bank of england these people the central bankers have simply gone on for the last five years with a frankly in same policy of hounding over money they call it quantitative easing they give away are sets free money free to the banks and they say they're going to help yourselves use this money in order to manage to rebuild your balance sheets so the result is they don't lend to ordinary people they don't lend to entrepreneurs instead they take something they've been given for free they make a lot of money out of it but of course because of the rationale of bankers' bonuses because they're making a lot of money they get large bonuses what about the bonus cap thank you think that's going to work out so that's going to be introduced in london is not the answer. oh look i mean this is just an absolutely farcical example of regulators trying to do something to justify their political masters who have already managed to mess the whole thing up no they won't work we don't ha

mr. carney's speech in nottingham after lunch today uk time.ties is where we're seeing the move once again today. spot gold higher 1425. brent up to 150. near 160 earlier. nymex, just back from 110 level. above 109 for the first time in a year and half this morning. copper the underperformer in the commodity speech, 331 is where we stand. currency markets, not big moves on a 24-hour basis. sterling dollar, below 155. euro dollar weaker, 133. dollar yen, around 9750 with the 97 handle. big weakness in emerging markets. rupee at 68 to the dollar. let's get more on what is happening in the asian session today. sixuan in a few moments. first to ekta for the latest out of india. ekta? >> hi, thanks for that. it is completely dilapidating in terms of what we have seen on the currency today. the einar did open down. nobody saw 68 coming so quickly with so much ferocity, so we went to levels around 68.9 on the einar against the u.s. dollar. these are record lows for the rupee. and it is scary to see what sort of depreciation the rupee has come in at. i

mr. carney's first official speech yesterday afternoon.rrency markets, this is where we stand. dollar yen just above 98, little firmer. euro dollar slightly weaker. cable where we were before mr. carney started speaking at 1:55. that's where we stand in european trade. sixuan has the wrap for us. >> we see consolidation in asia today after yesterday's sell-off. weaker yen helped the nikkei gain nearly 1%. china markets eased a little ahead of the key earnings. we also keep watching emerging markets, thailand, the philippines and indonesia have slumped about 10% this month, heading to their worst monthly losses since 2008. the philippines market rebounded 3.6% after gdp matched expectations. bank indonesia also hiked benchmark rates by 50 basis points as expected. the jakarta composite gained almost 2% today. meanwhile, india at 1.5%. as for big movers, tensions around syria still driving oil related sectors. japanese oil company showa shell gained 3.5% today. but the higher cost of oil hurt power companies. kansai electric power tanked ove

mr. carney. >> i think he's lucky to be coming in at a time when the economy seems to be turning a cornerrtner is europe, which change is not in a recession. and as long as they hang in easy, they'll start to get the exchange rate down hopefully and that's an essential condition of getting a recovery and debt laden economy, is the americans have already shown. that's the key thing. >> in a way, we're not going to see the best of carney if the economic data keeps picking up. what people have been talking about is a more creative way of doing things like quantitative easing, the bank buying things like sme loans. that probably won't happen in this case. but not escape velocity yet. >> that's the key phrase, escape velocity. helia, thank you very much. charles, stick around. more to come. >>> after a disappointing earnings report, we'll hear from peter voser in a first on cnbc. find out whether he thinks a north american shell is a game changer. >>> watching "worldwide exchange." i'm ross westgate. relieve for investors as official pmi numbers out of china show the manufacturing sector's ret

mr. carney coming out with forward guidance. on the currency markets, dollar down to a seven-week low. china data not helping. fragile, the dollar offers five straight losing sessions. dollar yen 96.73. aussie dollar rebounding from its three-yar lows as well, gaining on that china output and the news from mr. weathers. mostly just below 133. that's where we stand right now here in the european session. let's recap the last session of the week out of asia. sixuan is with us as ever out of singapore. hi, sixuan. >> on the back of the much better than expected industrial output numbers, steady inflation data. chinese markets reversed early losses to end in positive territory today. property developers trimmed early losses after latest data showed property investment jumped by about 20% in first of seven months on year. for the rest of asia, south korea's kospi eased .2%. the nikkei 225 a touch higher but down nearly 6% on the week, hurt by the strong yen. in china, resources plays let the gains. higher commodity prices in yesterday's upbeat trade data continued to let support to the sect

mr. carney has got himself into the most tricky corner on forward guidance out of any of the three majorut uk economy has also provided, i guess, getting relative terms, the best news over the course of the summer. >> we like moeller maersk. we think it has a lot of high quality assets in a tougher world. the market leaders will win and we think they're well placed. >> until that certainty comes through, we will see these ups and downs with the markets. and seemingly irrational behavior. but we think over the longer term actually we're going to go with equities in the right direction, that is up where as bonds are not somewhere we want to be at the moment. >> dell has seen its quarterly earnings plunge on the heels of a heated takeover battle between founding ceo michael dell and activist investor carl icahn. jon fortt has more on the numbers. >> dell might be having some challenging times as a company, but second quarter earnings turned out pretty well. revenue came in at $14.51 billion, versus 14.18 that the street expected. earnings per share came in at 25 cents versus 24 cents expect

mr. carney, goes to such lengths to say he's not a human rights act visits, he's not a dissident, and he's not a whistleblower. well, who made him king of the human rights community, right? i think -- >> [inaudible conversations] >> excuse me, i can't let this stand without giving neil mcbride, who has criminally charged snowden -- >> that's why -- >> -- a chance to respond. >> i have to say, i think it's a bad message for us to send for people who decide to take the law into their own hands they're doing a public service. >> can i think when the system has not worked. we have sued seven times to try to get the surveillance program before a proper court. we were kicked out of court. the clapper v. amnesty international where the justice department lawyer said it was a cascade of speculation when our client said we think our data has been collected by the government. and since we had no proof we'd been surveilled, we had no standing. it had not been for lack of trying, jeh johnson. >> the courts debate the law. >> and the only way we can get before the court, the only way we have standing b

mr. snowden's return. >> spokesman jay carney said president obama was given no prior notice by the russians. it's unclear if president obama will meet with russian president putin as scheduled in september. >>> another story out of russia one that could rock team usa before the winter olympics begin. the russian government making threats about gay athletes and gay rights. could some americans be arrested before they get to compete? >> reporter: in over six months russia helps to welcome the world into the winter olympics in sochi. today the russian sports minister warned that athletes and spectators could be targeted if they violate the country's new anti-gay law, threatening fines, deportation and even jail. speaking about homosexuality around mine orors or displaying a rainbow flag are illegal since the law was signed in june. but johnny weir, a two time olympian and openly gay american figure skater says the law isn't going to stop him. >> i'll take proper precautions but at the same time i won't stop being myself. i won't stop being johnny weir, the gay fabulous ice skater person walkin

afterwards his attorney jay carney spoke to the media. >> mr. bulger knew, as soon as he was arrested, that he was going to die behind the walls of a prison or on a gurney getting injected with a chemical that would kill him. >> reporter: over the nine week trial federal prosecutors argued bulger was one of the most vicious criminals to ever walk the streets of boston. they said his rise from common crook to mob king pin was made possible because he was protected as an f.b.i. informant who supplied information on rival mobsters. that prompted many of us once loyal top deputies to testify against him including john martorano, a convicted hit man who spoke to "60 minutes" steve kroft in 2008. >> i'm not a judas. i never informed or ratted on nobody. if i could have kill him, i would have killed him but he wasn't there. that's what i think he deserves. >> reporter: witnesses describe bulger's violence. he chained and tortured one of his victims before shooting him in his head. bulger strangled deborah hussey because she was dropping his name around

mr. snowden to the uned states. lou: carney confirmeded that putin's asylum approval for snowden provoked at least in part the high profile snub of russian leader by the president. but denied that putin was a quote, irtant to the white house. moments later carney seemed to long for days with was rnning the kremlin. >> we run into obstacles based on policy not individuals there is no question some progress we made with russia on issues of interest of our national security and our broader interests camehen of in office. lou: has over past 6 months all but dropped from sight, we'll take out the white house snit over putin, and three drone strikes today that killed terrorists in yemen. with former u.s. ambassador to -nited nations, john bold en, and judic miller, also,hite house calls benghazi a phony scandal, pat smith lost her son sean to terrorists that day, she says there is nothing phones out that ca -- phony about that. "new york times" reported nsa is snooping on a broader ran of americans who communicate with people oversea

mr. snowden expelled to the united states to face the charges against him. >> carney suggested presidentbama may cancel a meeting scheduled next month with vladimir putin. john mccain described russia's decision as a disgrace and called for a review of u.s.-russia ties. snowden's lawyer says his client wants to use his information technology expertise to earn a living in russia. the company that runs the country's largest social networking website has reportedly shown a willingness to hire the analyst. snowden is is staying with an american family he knows, but he won't give further details for security reasons. snowden may be planning to live in russia until he can secure permanent asylum in latin america. some countries there have offered to take him in. >>> supporters of ousted president morsi have heard the warnings, but are refusing to back down. leaders are telling them to in their sit ins, but ty're planning to fill the steets after friday prayers. morsi supporters have been staging sit ins and two squares in the capital. military commanders pushed morsi out of office a month ago

i hear that mark carney and mr. draghe won't be attending either.this could be quite a boring summit this time around. >>> let's give you a look at what's on this week's agenda in the united states. on wednesday, existing home sales for july are out at 10:00 a.m. eastern. the federal reserve will release minutes from july's fomc meeting. investors will be looking to hear any clues as to when and how the fed will begin to taper its stimulus program. thursday, weekly jobless claims are out and the federal housing finance agency's home price index for june is out at 9:00 a.m. and the federal reserve kicks off its annual economic summit in jackson hole, wiwiryoming, a just discussed. and friday, new home sales come out for july. zane brown, thank you for joining us this morning. how much in terms of news flow or new information do you expect to come out of the fomc minutes on wednesday? >> well, i doubt that we'll get a great deal because this meeting, of course, took place in july. and at that point, we didn't have indications that higher interest rate

jay carney urging the russians to send edward snowden back to the u.s. to face trial. >> there is absolutely goal justification for mr. snowden to be returned to the united states. he is not a dissident or whistleblower. he has been charged with a crime. >> in moscow, edward snowden's lawyer has confirmed his client is now free to look for accommodations outside of the main airport. >> concerning his place of residence, he will choose it himself. he can live in a hotel or an apartment. as he is one of the most wanted people on earth, he will be making sure his place of residence is absolutely safe. >> snowden arrived in moscow in the 23rd -- on the 23rd of june. he has been stuck since the united states revoked his passport. he initially planned to fly onto latin america. later, appearing alongside human rights activist, he admitted fears of being detained on the way were keeping him in moscow. snowden, a former systems analyst at the nsa, faces felony charges after leaking details of vast u.s. government surveillance programs. generalt week, attorney eric holder wrote to moscow, saying that edward snowden would not

mr saakashvili as. i consider him a war criminal in the. rollout of the lead . is it possible to navigate you carney with all the details and to stick to misinformation and media hype you up to date by decoding the mainstream have stated it's been your right. lol. lol. lol. lol lol lol . almost forgot about that for just five days of this relatively few casualties and the war had all the hallmarks of the bloodiest conflicts in human history political posturing. all leading to prove. it was an act of war people drawn to crowd scenes of. international politics always involves a fair share of screw.

. >> the boat people aren't exactly the commoners here, but the carney piece has an interesting interview with mr. cutler, the architect of this building. he walks through some of the arguments for building this. one argument for interestingly is that it would have less pollution than what is there now. not sure how that would work, but trying to claim it would be a good thing for the community. >> used to be a gasification plan or something. there used to be some serious industry there in the first -- >> but not for a while. >> this reminds me, andrew, of when rfk jr., the wonderful environmentalist tried putting a windmill in his view at hyannis port and see what happens. that's what this reminds me of. i'm green, just don't mess with my lifestyle or john kerry not paying taxes on his yacht, parking it in rhode island instead of massachusetts. i love the limousine liberals. and their response to some of this stuff. >> i'm not directing this at you. >> i don't know where i'll park my boat. >> i know. i'm not directing this at you. but do what i say, not as i do. >> that's your exhume edecutive t

mr. edward snowden. i tried to poke through this with the white house -- at the white house yesterday with jay carney. -- >> everything seemed to be on track until the snowden report. are you telling us today that even without edward snowden, there would still be no summit? >> i'm saying that mr. snowden was a factor but if there were and have been for some time now, a number of issues that had caused us to assess the utility of holding a summit at this time. >> bill: that's the white house spin. isn't this all about edward snowden? >> i really don't think it is. i think snowden -- >> bill: you think they would still have canceled the summit? >> i think snowden is sort of the straw that broke the camel's back. i think that much is true. it is the case of the administration, was trying to see -- to sort of plumb what could be done. if they thought there was something that could be done, it would have gone forward. but once -- once snowden's granted asylum and u.s. officials found out the same time that u.s. media found out. there was -- the russians bent over backwards to really stick it to the administ

carney criticized russia for granting snowden asylum. >> we are extremely disappointed the russian government would take this step despite our very clear and lawful requests in public and in private that mrsnowden expelled to the united states to face the charges against him. mr. snowden is not a whistleblower. he is accused of leaking classified information and has been charged with three felony counts, and he should be returned to the united states as soon as possible where he will be accorded full due process protections. this move by the russian government undermines a long- standing record of law ,nforcement cooperation cooperation and has recently been on the upswing since the boston marathon bombings. >> russia's decision to grant edward snowden asylum comes at a time when the white house is coming under intense criticism from an unusual coalition of democrats and republicans over the nsa surveillance programs. last week the house duly passed a measure that would have prevented the nsa from using the patriot act to collect phone records of individuals who are not under investigation. the measure failed by a narrow 217 to 205 margin. the bill was written by republican democrat duo

mr. obama on everything, particularly economic and fiscal issues. but he does something good, like the afghan surge, i favored that at the time. i felt he did something right. i mean, jay carney mentioned today -- you mentioned some of this. missile defense talks going nowhere european missile defense counts, arm control going nowhere, trade going nowhere human rights going nowhere i mean, i think somehow the president now is going to be a new man. i don't think he's going to run back to putin at all. >> no. i mean, larry, the problem is the issue at large here is that putin sees us as weak. he sees obama as weak. he sees things like benghazi and other -- our actions in syria, our nonactions in syria, our willingness to get tougher on iran. he sees this as weakness and he's taking advantage of it. i do disagree with you. i think there's an audience for not only internationally but also domestic audience in russia. there's still a segment of society in russia that hasn't gotten over the cold war. standing up to the united states gets people to applaud you in russia in some segments of that society. i think putin knows what he's doing. he's a masterful politician and he's takin

mr. kernen. zillow will have a social media round table with president obama today, focused on housing policy. in europe, stocks slipping in early trading after the bank of england detailed forward guidance plans. mark carneynnouncing the central bank will not raise interest rates until uk employment hits 7%. taking a page from mr. bernanke's book in july. it stood at 7.8%. the guidance is similar to that issued by the federal reserve. >>> a check on your broader markets. the futures indicating what could be another down day. a bad day yesterday. same setup today. the dow opened 50 points, the nasdaq and s&p also implied lower. oil down a little bit. turned around a, little bit, a little firmer. the ten-year treasury note is what everybody is watching. 2.63% after a sharp spike over the last couple of weeks. yield tapered off the last few one week or so. the dollar is a story. yen strength, i know it sounds boring, guess what, everybody you talk to say the yen is driving the market because japan, japan had a terrible night, off 4%. the yen strength, six-week high there. currencies, got to like gold as well. the two are inextricably linked. >> markets ended down for a second straight session yesterday as fe

from obama, rather than jay carney what america thinks, denying putin the political boost he so avidly thinks. a different view emerging with "the new york times" reporting this. mrved support from republicans and democrats. stroke talbot, deputy secretary of state under bill clinton and president of the brookings institute said, a moscow meeting would have been more happy talk than merited. ambassador john bolton weighing in on at controversy last night when he went "on the record" with greta van susteren. >> canceling this meeting has all the impact on putin of obama fluttering his eyelids. it is purely symbolic. gregg: joining us now, brad blakeman, former deputy assistant to president george w. bush. mike breen, executive director of the truman national security project. mike, let me start with you. surely put teen knew obama would cancel if i gave snowden asylum which is probably why putin did it. why not, if you're the president of the united states, do just the opposite. meet with putin, confront him face-to-face? give him a tongue-lashing, criticize him publicly? why not that? >> the president is right he carries with his office the strength and prestige

carney reacted this way. >> we are extremely disappointed that the russian government would take this step, despite our very clear and lawful reque requests in public and in private to have mre united states to face the charges against him. mr. snowden is not a whil blower. he is -- a whistle-blower. he is accused of leaking classified information and charged with three felony counts and he should be returned to the united states as soon as possible, where he will be accorded full due process and protections. >> reporter: carney said that u.s. officials will continue to be in contact with their russian counter parts, expressing this extreme disappointment and continuing to make the case there is legal justification for snowden to be returned to the u.s., carol. >> all right. dan lothian, reporting live from the white house this morning. >>> coming up in the "newsroom," we've seen plenty of scary storms and tornadoes this year but thankfully, hurricanes have been in short supply so far. that may have a lot to do with what's happening in the sahara. we'll tell you why next. what a ? ow! that hurt! no, no, no, no. you can't go to school like this, c'mon. don't do it! no! (mom

carney, the white house press secretary, said in a statement. he added russia's disappointing decision to grant kimberly -- temporary asylum to mr. snowden was part of the decision. reaction from senator chuck schumer today. "the president clearly made the right decision. president putin is acting like a schoolyard bully and does not does deserve the respect they bilateral summit would have accorded him." president obama appeared on the "tonight show" last night. >> domestic spying program, what we do have are some mechanisms where we can track a phone number or an e-mail address that we know is connected to some sort of terrorist threats. that information is useful, but what i've said before, you know, i want to make sure i repeat, and that is -- we should be skeptical about the potential encroachments on privacy. none of the revelations show that the government has actually abuse these powers, but they are pretty significant powers. to congresslking and civil libertarians and others about our there are additional ways that we can make sure that people know nobody is listening to your phone calls. but we do want to make sure tha

carney at our briefing yesterday. >> we are extremely disappointed that the russian government would take this step despite our very clear and lawful requests in public and in private to have mre united states to face the charges against him. >> bill: but they could not have been surprised. pretty clear that vladimir putin was going to seize this dew point and also we're not surprised that chuck schumer seized the opportunity. >> russia has stabbed us in the back and each day that snowden is allowed to roam free is another twist to the knife. >> bill: there they go. >> have mercy. >> bill: look, after a year, snowden will be begging. ?oand will be begging to come back to the united states. jobs numbers for july when we come back here with sam collender on the "full court press" this friday morning. >> announcer: this is the "bill press show." but still support the drug war you must be high. >> "viewpoint" digs deep into the issues of the day. >> do you think there is any chance we'll ever hear the president even say the word "carbon tax"? >> with an opened mind... >> has the time finally come for real immigration reform? >> ...and a distinctly satirical point of view. >> but

carney said earlier that the administration is extremely disappointed that they have temporaryone-year asylum to edward snowden in russia. >> is the decision from russia a rebuke of president obama? they have issued mr. snowden temporary asylum for one year and allowed him to leave the airport. we are extremely disappointed that the russian government would take this step despite our very clear and lawful requests in public and private to have expelled to the united states to face the charges against him. mr. snowden is not a whistleblower. he is accused of leaking classified information and has been charged with three felony counts. he should be returned to the united states as soon as possible where he will be accorded full due process and protections. russiane by the government undermines a long- standing record of law enforcement, cooperation. >> russia says they are not going to send him back. what is the effort from the administration to get him to return to face prosecution? >> we will be in contact with the russian authorities expressing our extreme disappointment in this decision thataking the case clearly there is absolutely goal justification for mr. snowden to be returned to the united s