i'm nejra cehic.his is "bloomberg best," your weekly review of interviews from bloomberg television around the world. the week began with a flurry of mergers including a third try at a tie up between a pair of big telecom companies. david a big weekend for mergers. :marathon buying endeavor. warehouse giant pro logos. t-mobile agreeing to buy sprint. at long last, for more than $26 billion in cash and stock. you keep saying it is $26.5 billion. there is debt they are taking on. it's a lot more than $26.5 billion. >> it is substantially more. it is also an all stock merger with an exchange ratio, so what the price is today is not what the prices tomorrow. it will move around. there is a lot of risk on this eel. you will see that play out in any spread you will look at. people will say the antitrust risk is huge. the government already said they don't like this deal. there is a high chance this does not get done. >> what is different now is 5g. this is imperative. we have fallen behind it to china. t-mo

i'm nejra cehic.s is "bloomberg best," your weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. the week began with a flurry of mergers, including a third try at a tie up between a pair of big telecom companies. david: we got a big weekend for mergers with marathon buying endeavor. , and the really big t-mobile agreeing to buy one, sprint at long last, for , more than $26 billion in cash and stock. we keep saying it is $26.5 billion. it is not, really. it is $50 million of debt they are taking on. it's a lot more than $26.5 billion. >> if you look at the enterprise value, it is extensively more. what the price is today is not necessarily what the price is tomorrow. there is definitely a lot of risk on this. you will see that play out in any spread you will look at. people will say look, the antitrust risk is huge. the government has already said previously they don't like this deal. i think there is a high chance this does not get don

nejra cehic and london. bank holiday. nejra, what is a bank holiday?anks, the financial markets, are closed in london. it is very quiet. it is like a tumbleweed. i'm not sure where i will have lunch, to be honest. but it has been a holiday since the 1980's, i believe. tom: very good. bonk," that is the "bonk."und stock, it is nejra: i say "bank." [laughter] let's get to taylor riggs. taylor: boris johnson says it will be a mistake to move away from an iranian nuclear deal. in the "new york times," he said he has the fewest disadvantages among the options to ensure iran never gets a nuclear weapon. he says negotiators are close to a deal that would address president trump's concern. the president threatened to pull out of the deal by the anything of this week. is president trump's lawyer leaning against having him sit for an interview with special counsel robert mueller. rudy giuliani told abc news that the interview would be a trap. the also said president trump would not have to comply with a subpoena from moeller. that is a hot topic for legal expert

nejra: and live from london, i am nejra cehic with the european close just minutes away. bank of france governor discussed growth and the effect of trade wars on the european economy. he spoke exclusively to francine lacqua at the banking conference in paris. >> at the present, we see no signs of currency wars. to the g20committed target our monetary policies according to domestic stabilitynly price and not to target our sanctuaries for competitive purposes. stability this is the way it should work, this is the way it works. nejra: that was francine lacqua speaking exclusively to the bank of france governor in paris. vonnie: time now for the latest bloomberg business flash. a -- tos started explore the potential sale of assets. the retailer is controlled by a hedge fund manager. he said his hedge fund will be willing to buy a number of sears assets including real estate. it is going to be a management reorganization at tesla. ceo elon musk has told an employee memo that he wants to slap -- slack in the structure of the carmaker. he made the announcement after getting word

this is bloomberg. ♪ nejra: from london, i'm nejra cehic.ayust finishing up in european trading. let's take you through all of the actions running with the stoxx 600 and digging into what's happening with industry groups. the stock seems to be treading water again. not a lot happening on a headline level which has been the case for european equities the past few days. is those commodity producers that have been very much about performing. the downside with the utilities and the financials that have been underperforming. interesting things happening under the surface. you can really see how red hot miners have been in this session. we saw the stoxx 600 basic resource index. this is the yellow line for the first time since 2012. we saw a real jump in that industry group earlier. pushing up against that resistance level now. and of course italy has been very much in focus. that is been grabbing all the attention in the bond markets. a lot of concern came into italian bond markets after we heard from a lawmaker from one of the populace parties t

nejra: live from london, i am nejra cehic. now to a bloomberg exclusive.a weakening to a record low. turkey's president saying you would tighten his grip on the economy including monetary policy. president heard a gun -- erdogan shared his thoughts. >> the interest rate is the cause and inflation is the result. the lower the interest rate is, the lower inflation will be. first of all we need to adjust this. what is the targeted interest rates? it's the real interest rates. what is the real interest rate? it is the difference between the interest rate and inflation. the moment you catch this, what do you do with the real interest rate anyway? you take it down in a substantial sense. the moment we take it down to a low level, what would happen to the cost inverts? that will go down. as soon as that goes down, you in theestically or international market, you will get the opportunity to sell your product at much lower prices and -- and obtain competitiveness. when the decision is made on interest rates, are you consulted? how does the process work? do they tak

acquisition -- nejra cehic.shing up, weakness equities finishing up, weakness coming through on the stoxx 600, it has been treading water and struggling for direction this week. across the regional benchmark from the function, ftse 100 down 2/10 of 1% and the dax up 4/10 of 1% and the cac 40 unchanged earlier and now in the red, down 2/10 of 1%. leaving the losses is the ftse mid, down 1.5%, below is in a month. plan fromgovernment the lead at five star but outstanding questions. suspending plans causing jitters through the markets. but the mid, -- that is how we are shaping up regionally. stoxx 600 in industry groups, you get a sense of what is going on. down 4/10 of 1% on the stoxx 600, on a weekly basis, probably unchanged. a little bit in positive territory. and dust real sleeping on the upside and utilities. .ore industry groups on the red telecom and i.t. leading the losses for a lot of the day. that has been on a slump for a lot of the session and below 118. we hit a 2018 low with this week. a lot of anal

let's get straight to the bloomberg first word news with nejra cehic. nejra: u.s.reasury secretary has said he is unconcerned about bond markets ability to absorb rising government debt. his department said it borrowed a record amount in the first quarter. cu let's just say it is a bit -- >> let's just say it is very large, robust market. there is a lot of supply. u.s. commerce secretary wilbur ross joins us after 6:30 p.m. u.k. time. donald trump has said he is considering holding a meeting with north korea's kim jong-un at the demilitarized zone or in other countries including singapore. speaking at a press conference with syrian president, trump also expressed -- with nigerian president, chuck also expressed -- benjamin netanyahu said his country has half a ton of iranian documents that proved to build nuclear bombs. nothing gives donald trump ammunition to pull america out of the iran nuclear accord. --n's nuclear minister says by the international atomic agency. the u.k. is proposing a new plan to kickstart stalled brexit talks. negotiations resume in brussels

tom: nejra cehic, thank you so much. james sweeney with us right now.got it totally wrong. this is the flows, the current account deficit of the united kingdom. here is brexit down here. the worry is we would have seen a widening current account deficit. here is the miracle. instead, it has gone the other way to less of a deficit. was that just pound movement? did sterling compensate for that deficit? james: two things happened immediately after brexit that prevented the recession people forecasted. one was the decline in sterling and one was that increase in household savings. reversed partly, but there are weather affects even in the u.s. it has led to a little bit of weakness and choppiness, but we think something a little worse is going on in the u.k. because it looks like this decline in the savings rate that was sort of accommodating and increasing tradable prices, has ended. really, if you are a household in the u.k. you are facing higher prices because of this adjustment that happened so essentially the brexit bill is still there. we think the u

from nejra check cehic. nejra: we are seeing gains on the asia-pacific index for a second day.the outliers is the jakarta stock exchange. i will talk more about indonesia in a second. the next chart, oil is front and center when it comes to global markets. it gained this month as traders brace for a decision on iran. bit of softness and pulled back. we saw it go above $70 a barrel for the first time since 2014 and now it's trading at 69.90. when we look at emerging markets, we have seen some outflows the past three weeks or so. this always shows the haves and have-nots. this is a great charts. why have p.m. assets taken such a fact -- a battering? compiled the dollar with the average of two and 10 year yields. this is the tightest u.s. policy since pre-labor. sticking on emerging markets, one country and its assets that have been cost -- caught in the crosshairs is indonesia. h extend itsupia losses. there are questions whether the central bank will tighten policy. we do have some supply in the bond market coming on today in indonesia. anna: thank you very much. nejra cehic on

welcome to "bloomberg markets: rules and returns," i'm nejra cehic.e into the regulatory challenges and opportunities for financial markets around the globe.

ge eu in the next hour, m and thes -- let's get to bloomberg first word news with nejra cehic. a: prosecutors have made clear to president trump that bob -- robert mueller will consider a subpoena. according to two current u.s. officials, he has legal standing to subpoena a sitting president even though such a move has never been used. the trump administration is playing down expectations for a breakthrough on trade issues with china as senior officials prepare to visit beijing. the u.s. trade representative, it is a big challenge to resolve differences. by stevejoined mnuchin, larry kudlow, and commerce secretary. ,> china, as you probably know talks a lot about free trade. their behavior is entirely protectionist. much more protectionist than the u.s.. china, it hasg of weakened its currency by more than analysts expected before high-ranking u.s. officials arrive in the country to discuss trade issues. the people's bank of china cut the level, weaker than the average. the turkish lira has weakened after the credit rating was deteriorating inflation outlook, and the long-term a

i am nejra cehic in london.s" is a show where we delve into the regulatory challenges and opportunities for financial markets around the globe.

i am nejra cehic in london.s and returns" is a show where we delve into the regulatory challenges and opportunities for financial markets around the globe.

from london, i'm nejra cehic. york, i'm vonnie quinn. ropean close on bloomberg markets. nejra: deal dilemma. european leaders debate the future of the iran nuclear accord. angela merkel saying it's not right to walk away. to walkrea threatens away from meeting with president trump saying the u.s. demands are one-sided. and italian bonds bashed. populist parties seek a debt write-off of billions of euros. let's take you through all the market action in europe. we are just under 30 minutes of the close. but have a look across asset at what's happening. it is up .2%.

bloomberg european headquarters in the city of london, i'm nejra cehic. the european close on bloomberg markets. vonnie: here are the top stories we're coming from the bloomberg and around the world. italy inches closer to a deal on a new government, but the populist party still has to decide on a candidate for prime minister. then fighting words, europe gets tough on trade, threatening to slap tariffs on u.s. goods. and brent oil hits $80 a barrel in oil as traders brace for the impact over new sanctions on ran. nejra: let's look at all the action in europe. we are about 30 minutes to the close of equity trading, and speaking of equities, you're seeing a fair amount of green here. the stoxx 600 on a headline

live from bloomberg's world headquarters, this is nejra cehic and you are watching the european closeam vonnie quinn and we welcome you to continuing coverage of -- ♪ nejra: here are the top stories we are covering from the bloomberg and around the world. italians markets rocked. plans that could royal public finances. glencore is set to face a u.k. bribery probe over dealings with shares plunging on the news. china cast doubt on reports it offered to reduce its annual trade surplus with the u.s. by $200 billion. the latest on where the trade talks stand. let's take you through european market action. 30 minutes from the close of equity trading. equity space, stoxx

here is nejra cehic. a: donald trump said he will meet kim jong-un on june the 12th and singapore. he said they tried to make it a special moment for world peace. made the announcement after greeting three u.s. citizens freed by north korea. good andlationship is hopefully for all of us, for the world, hopefully something very good is going to happen. they understand it is very important for them. ,t is important for everybody so japan, south korea, china, everybody. i think it is going to be a very big success. ministerraeli prime benjamin and yahoo! is accusing around of crossing a redline by -- benjamin and yahoo! is accusing iran of crossing a line. -- targeting -- crossing a line in the golan heights attack. oil prices could rally to $100 propeller -- narrow next year. that is according to bank of america. the bank said that brent futures are set to reach $90 and the second quarter of 2019. prices could go even higher, it said, becoming the first wall street bank suggesting a return to $100. malaysia'

getre we get to that, let's to the bloomberg first word news with nejra cehic. a: vodafone has agreed to .uy units from liberty global the u.k.-based telecom giant will by the cable network in germany, as well as the check and hungarian. the move shakes up the region and signals a retreat by u.s. millionaire john malone. deutsche telekom has raised its forecast on growth in america. afterrman carrier, t-mobile added more than a million customers for the 20th consecutive quarter. t-mobile todeal for take control of sprint remains in focus. we will bring you an exclusive interview with deutsche telekom's interview at 10:30 a.m. u.k. time. " black panther" has generated more than $1.3 billion. both by of were disney's theme park helped business that declines. the company's ceo remains confident he can clinch up $50 billion deal for 20th century a biddingts, despite war against comcast. a 60% jump in profits on middle east travel demands. --increased to >> we have a tough business. i am happy to report the last few years we have managed to see profits every year. nej

welcome to "bloomberg markets: rules and returns," i'm nejra cehic.

. ♪ nejra: hello and welcome i'm nejra cehic. this is bloomberg best.r weekly review of interviews from the bertelli mission from around the world. the week began with a flurry of mergers including a third try at a tie up between a pair of big telecom knees. -- a telecom companies. >> a big weekend for mergers. logos.se giant pro t-mobile agreeing to buy sprint. you keep saying it is $26.5 billion. there is debt they are taking on. it's a lot more than $26.5 billion. >> it is substantially more. prices today is not what the prices tomorrow. it will move around. there is a lot of risk on this eel. you will see that play out in any spread you will look at. people will say the antitrust risk is huge. the government already said they don't like this deal. >> there's a high chance that doesn't get done. >> what is different now is five g. this is imperative. behind it ton china. t-mobile and sprint together is the only company that can change that. will supercharge the on carrier current customers can look forward to a broader range of service, more rural co

good morning to nejra cehic. nejra: good morning. as you say, a bit of a mixed session in asia.ength in china and australia. weakness in south korea. japan flat overhead. they were closed on thursday and friday in japan. the msci asia-pacific index up just .1% overall. a little bit of a bias towards risk appetite. let's move onto the next chart because one of the key stories is what's happening with oil. we are seeing wti above -- it trades at 7032. we are up 1% in the session. brent is above $75 per barrel. a lot of this is driven by geopolitical tensions and the concern around possible geopolitical tensions with the may 12 deadline approaching and the risk that we see the u.s. pull out of the iran nuclear deal. fresh sanctions are imposed. the premium seems to be priced into the geopolitical risk premium which seems to be coming into these markets over the now.mentals for looking at the fx space, we saw dollar strength last week. the dollar had its best week since the u.s. election. we have also seen hedge funds covering some of the shorts. when you look at the cftc data, doll

i am nejra cehic in london. "rules and returns" is a show where we delve into the regulatory ch

we go to nejra cehic with the london studios. interesting is air france has called lower by some of the open but at the moment it doesn't seem to be moving much. the french finance minister warned on french tv over the weekend that air france will disappear if unions block reform. at the moment, not much reaction there. we are seeing some upside are -- upside reaction in hanover re. nestle moving higher by extensive a percent bash -- .6%. it's entered into a multibillion-dollar alliance with starbucks. it has wanted to capture that more upscale job at drinker in the u.s. with this deal. matt: -- guy: the reason it hasn't had much reaction is it has an open yet. this is really peculiar to take this long to get a stock opened. it's something worth paying attention to. i can't see any indication that there is any stoppage or outage. but it is an open. matt? matt? it isn't open, it's possible. i worked on the floor of the stock exchange for a few years and a lot of times it takes a while to open these stocks. that's maybe a little bit

from bloomberg's european headquarters in london, i'm nejra cehic. nnie: this is the european close on bloomberg markets. ♪ nejra: here are the top stories we are covering. suffering a setback, europe's economy stumbles as german, portuguese and dutch economies fall short of forecasts. currency sent to a record low against the dollar. from her -- you will hear from our conversation with tim cook who says apple has big plans ahead. let's take a look at the way european equities and assets are trading. we are 30 minutes to the close and equity trading in europe.

. ♪ nejra: i'm nejra cehic. equities finishing up the day in european trading.s been a little more action today than in the past you days because the stoxx 600 has been struggling for direction, but it is in the green today. benchmarks, spain and portugal higher. quite a few gains in both the core and periphery. the fx today, the euro holding yesterday's losses with a fresh 2018 below. we trade at 1.1797. the pound up 2/10 of a percent. we'll talk more about that in just a second. in fixed income we look at all this through the prism of a ten-year treasury yield at 3.1%. what's interesting is we are seeing yields in the core moving higher. germany and the u.k.. where the 10 year italian yield was jumping, it is unchanged. the spread is studying out a little bit after blowing out earlier. we have had some developments come in the two parties saying they are forming a government or close to it. we are awaiting more beef finer details. interesting to look at the cds. what we been talking about is in yields higher. there testing and deft sustainability comes in to p

i am nejra cehic in london. is a show where we delve into the regulatory challenges and opportunities for financial markets around th

i am nejra cehic. this is bloomberg. francine: let's kick it off with trade tensions.hina wants to come to threats. the comments came from a government official hours before talks begin with the delegation of trump administration officials including steve mnuchin. tom mackenzie is in beijing covering the events. good morning to you. i know it has been a very long day. what has the u.s. -- what is the u.s. the legation trying to get out of this trip? tom: we know what their concerns are the we do not know the specifics of the demands. steve mnuchin is sitting down with his chinese counterparts in the government. he is going to be meeting with the chief economic advisor. the broad concerns are around things like technology transfer, intellectual the protection -- intellectual property trip -- those are some of the concerns -- exactly how they are going to adjust those, we do not know. we are hoping to find out more at the end of the talks. the chinese talks have drawn a pretty strong line in the sand. saying they will not be bullied by these u.s. demands. there are no pr

this is francine lacqua with nejra cehic in paris. i'm about to speak to the governor of the bank of france. what is going on? nejra: lots to look forward to from your day in paris. let's check on the markets first. european equities struggling for direction a little bit. all the gains that we saw in the u.s. on friday, the euro trades against theonger dollar. the 10 year yield not really going anywhere. yieldn the 10 year btp rise a little bit. andre seeing the five-star league parties near the completion of a government plan. we have breaking news that the president will be meeting later today. we keep an eye on all italian assets. some weakness in crude, extending the losses from friday after opec says that it is ready to offset any effects of sanctions on iran. let's get the bloomberg first word news. here's taylor riggs. taylor: president trump has switched policy and ordered the commerce department to help zte stay afloat in the united states weeks after banning the company from buying american technology. he tweeted that he and

question good morning from the city of london, i'm nejra cehic. these are today's top stories. >> the fence as inflation is close to its target but signals note shift in his taste of monetary tightening. a mega offering, the smartphone maker filed for an ipo expected to raise at least $10 billion. paring up with hardliners to reject the president's plan and demand a -- cleanak from the break from the e.u. customs union. ♪ welcome to "bloomberg daybreak: europe." and welcome to our audience a warm welcome to all of you. let's look at the breaking news first on the bloomberg. we got something coming through, second-quarter profits, missing estimates and also will sell its u.s. service business. these lines just crossing the bloomberg. second-quarter adjusted ebitda missing the estimate. it confirms the forecast from april 24th. that's something we will want to discuss with the cfo we talked to him later. it warmed of a slowdown -- warned of a slowdown back in april. also advances to become the digitalsoup flyer for farming. those are the key lines.

i'm nejra cehic. anna: i am anna edwards. this is daybreak: europe.p to $2 billion of its own shares as profit meets estimates. we speak to the cfo. return to shareholders $2 billion worth of buybacks in addition to tencent's dividend we announced. that bears out the strength we are seeing in organic growth in a number of our markets. nejra: socgen trading disappoints. the bank missed out on the trading gains that boosted earnings at u.s. and european rivals. we break down the numbers with the deputy cfo -- ceo kerry -- ceo. we feel finally the balance will be found. to me, the major risk is more on operational risk in the cyber issue. nejra: jobs day usa they expect growth to rebound in april. the dollar slips slightly ahead of today's report. ♪ nejra: good morning, friday morning carried 7:00 in london. about breaking news this hour, numbers from iag, adjusted operating profit 200 80 million euros, above the estimate of 194. revenue, 5.0 2 billion, a little below estimate but the operating profit number looks to be ahead of the estimate. they talk a

let's get to the bloomberg business flash with nejra cehic. comcast will maintain sky headquarters and carry upon its brand-new services if it takes over the forecaster. that is as the u.s. company is lining up financing for still bid for 21st century fox. countering the offer from disney . according to a person with knowledge, comcast is talking to invest in bank about bridge financing for an all-cash bid. a comcast representative declined to comment. bob iger will join us after 9 p.m. u.k. time. cicada -- takeda has reached an agreement to buy shire in a cash deal. pounds on a-- 49 penny per share of -- penny per share. it will transform takeda in a top drugmaker. a unit of shell has agreed to sell its entire stake in oil plant producing canadian natural . so guess will sell its shares in canadian national to 3.3 billion u.s. dollars and the transaction is expected to be completed by tomorrow. at shares are being offered $34 each, a 2.9% discount. qualcomm is preparing to give up its push to develop processes to data center servers. the bigg

nejra cehic is outside the bank of england.t is the question for the press when mark carney speaks? there will be many questions, because it covers a bit of a surprise -- comes as a bit of a surprise of the dovish hold. some people were thinking we might get more of a balanced vote. the comments coming through on inflation, the fact that they see it cooling faster to rich the 2% target in two years and there will only be moderate tightening over the forecast period. that theid things softness in the first quarter was perhaps only temporary. it will be interesting to see whether mark carney tries to balance that and put a hawkish spin in the news conference. one of the questions i would do theyask is what think will cause inflation to come down to target? is it all to do with sterling or are there other factors? that might mean something about their inflation outlook and how they will look at tightening in the year ahead. the markets seem to have priced out a hike in 2019 so they are seeing this as dovish. david: we are going to

i am nejra cehic. this is bloomberg.e: the brexit transition time will need to be extended possibly for years to allow time to implement a new regime according to senior british officials. they say any arrangement by the end of december of 2020 when the time is going to end. cabinet thatas a is deeply divided on brexit policy and how likely will they go into extra time? .oining us is carsten nickel thank you for being with us. what is going on? we do not know anymore, the government position on customs union or not customs union. and talk about the timeline. will they get it done in time? >> in terms of extension, nowhere near that at this point is we have no idea what it is the british -- a police that -- not them have a conversation with itself it is the british cabinet having a conversation with itself about to custom union projects, neither is likely to have a majority in westminster or will work in practical terms. both have been rejected by the european union. unless we have sorted that out, i do not think we are t