in pearson have risen after the company said it was selling a 22% stake in book publisher penguin random house raise about £776 million and pearson said it would return £300 million to shareholders.after the deal, pearson will still have a 25% stake in penguin random house. let's have a look at the markets. that's it semi—, i'll be back in one hour's time with business news. thank you, charlotte. they might be places that you assume are generations apart — but for the first time in the uk, a nursery and a care home are closing the age gap. it's an idea which has already been adopted by other countries, such as the united states and japan, but from september, britain willjoin them by opening a joint site for youngsters and elderly residents. graham satchell went to find out more. singing a large care home in south london and the sound of a nursery rhyme. young and old singing, playing, interacting together. when it officially opened in september, this will be the first nursery in the country to be cited in the grounds of a care home. children spend more of their time away from other age groups

after the deal, pearson will still have a 25% stake in penguin random house. let's have a look at marketsank you. see you then. whether time? it is. a little bit of a change. here is chris. hi there. a change. here is chris. hi there. a change in the weather with these sunny skies, it was pretty warm as well. temperatures around the greater london area reached 27 celsius in the sunshine, but today it's a different story. cloudy skies, outbreaks of rain on the way. because of this area of low pressure. it will be bringing the wet weather all across england. further north, the weather, a little bit drier at times. some of that rain has already arrived across southern wales. looking at this weather watcher picture, it has already turned pretty heavy. the rest of the afternoon, the band of rain will be swinging its way in. we will see showers getting into east anglia and southeast england before general outbreaks of lane arrived in outbreaks of rain arrived in london about half past three or there or about. it will continue to rain pretty heavily across southwest england and southern area of

after the deal, pearson will still have a 25% stake in penguin random house.too happy. indeed not. they say they have invested substantially to ensure their customers get a great deal and excellent coverage. they are ina deal and excellent coverage. they are in a sense in their eyes being punished. the smaller players are saying, well, actually, you don't give us enough market shares of cannot afford to invest. we have to have more infrastructure, so 0fcom is going to have to find a very careful way through this minefield. let's get on to pearson. shares initially rose when they said they we re initially rose when they said they were selling their stake but by the end of the day, it looked like they we re end of the day, it looked like they were going into negative territory, why is that? we started off by getting the news they were going to getting the news they were going to get about $1 billion, but of course, they are giving up about £60 million of profit so it is not a fabulous deal, it is a better deal because they are making their business cleaner and m

random house for about $1 billion to strengthen its balance sheet. pearson is selling the state to its publishing unit partner. this gives penguin, random house and enterprise a value of $3.5 billion. snap shares have fallen below the ip prize for the first time. -- fallen below the ipo price for the first time. analysts say snap needs to prove the advertisements are a must buy, and they need to keep innovating their product. mark: a new study shows that question surrounding brexit are hurting britain's business optimism. u.k. banks and life insurers are less optimistic because of uncertainty over the eu divorce. one year after theresa may became the conservative leader, she will use a major speech to appeal for cross party support theelp peel britain out of eu. but she was forced to suspend one of her lawmakers over racist language yesterday, reducing her numbers as he struggles to win votes in the house of commons. let's get more. geoff, to you. let's start with this chart, geoff. we are in negative territory, levels we have not seen since the brexit vote one year ago. we are minus 34. is that everything you need to know right

it says it will out eight fewer resources than some investors penguin random house majority owner for about $1 billion or this has raised concerns from the analyst community and may require more funds to prop up its balance sheet. the company announced the reorganization and is seeking to address sluggish command. collegewindling u.s. enrollment and textbook sales. shares down by 21%. quarterly clothing revenue and missed estimates for food sales. biggest decline since january. same-store sales and home division fell since it ended july the first. 9% in comparable time earlier. sales that is evidence the u.k. disposable- amid income, we know more on that since wage data is released. marking the second straight quarter that it failed to meet low expectations, it raises questions on whether chief is negative steve closed 30 stores here in the face of long-term sales and decline. all retail sales rebounded in the second quarter according to the british retail -- up to 2.1% decline the most since 2013. might not be a surprise to many. consumers the driver of growth since the referendum la

publishing company pearson publishing company pearson is selling a 22% stake in penguin random house rtner bertelsmann -- a lot of "ps" there that was alliterative -- >> you popped all of them. >> the deal cuts pearson's stake in penguin random house to 25% barracuda networks reported quarterly profit of 18 cents a share matching estimates however the cybersecurity firm gave a weaker than expected current quarter forecast michelle >> coming up, senator roger wicker, member of the powerful budget committee joins us. and then later, wd-40's ceo arrly ridge talks qutey results. "squawk box" will be right back. your insurance company won't replace the full value of your totaled new car. the guy says you picked the wrong insurance plan. no, i picked the wrong insurance company. with liberty mutual new car replacement™, you won't have to worry about replacing your car because you'll get the full value back including depreciation. switch and you could save $782 on home and auto insurance. call for a free quote today. liberty stands with you™. liberty mutual insurance. or a little internet ma

. -- selling a stake in penguin random house to $1 billion to strengthen its allen's sheet.g after the sale it will return capital to shareholders through a share --buyback. u.k. homebuilder actually rising the most since september 2016. of more than 6%. it is -- it's outlook for the year is unchanged. it also expects to pay its dividends in line with prior. guy: markets a little risk on. marginally higher if you're looking at equity markets ahead of janet yellen's report to congress tomorrow. friday the central bank on track this year. trillion dollar balance sheet. listening -- i'm trying to understand what i will hear from janet on. what the central bank is trying to tell you right now, we have really moved to a next -- a new stage. we are exiting the last 10 years because we do not know the president us -- anything. now we are starting to understand, reprice fundamentals. what messages are she going to communicate? >> the potential to be quite important. generally i have no idea but i am trying to work out what seems to be a new paradigm to me in terms of central banks.

. >>> pearson is selling a 22% stake in penguin random house for around $1 billion in a bid to strengthen its balance sheet and return 300 million pounds of capital to shareholders. the british publisher will still retain a 25% stake in penguin. sanofi is buying the biotech company protein sciences for an initial price of $650 million. the french drugmaker will pay an extra $100 million upon the achievement of certain milestones sanofi says the deal will expand its flu vaccine portfolio. >>> and a 0.5% drop in quarterly like-for-like sales that kept the quarterly guidance unchanged. the ceo says recovery is on track and first-quarter trading was in line with the company's expectations like-for-like global sales fell less than analyst forecast with a 1.2% drop in the first quarter. >>> and amid growing investor frustration with a lack of structure reform in central and eastern europe, the ims is holding a conference in croatia with the aim of promoting greater integration between regional economies we're at the conference in right now. karen, i thought i was lucky going to the south of fra

estimates and earnings guidance a little light of consensus pearson is selling a 22% stake in penguin random housert yellsman for $1 million, hoping to bolster its balance sheet and return more cash to shareholders. >>> some more stocks to watch today. shares of amazon are higher as the company holds its third annual prime day analysts say today could be the biggest sales day of the year for the online retailer. it's up 0.1% this morning. >>> microsoft is reportedly planning to spend $10 billion to bring broadband internet to rural"seattle times" says they expect to connect 22 million people by 2022. >>> and vintage capital has reportedly offered to buy vintage capital for $15 a share in a deal worth up $800 million. rent-a-center is up this morning. >>> top trending stories, starting with warren buffett giving away billions in charity, announcing he'll donate about $3.2 billion of berkshire hathaway's stock to the bill and melinda gates foundation as well as four family charities this is actually his largest contribution in more than a decade-long plan to give away his fortune. >>> good news, cof

pearson down after the publisher announced they're selling a 22% stake in penguin, random house to jointre partner, the $1 billion sales leaves him a holding in penguin bolstering the balance sheet the stock ending down 5% take a look at marks & spencer, trading in the red posting a slower decline in quarterly clothing sales but disappointing food sales weighing on the staff. the new ceo says the turn around plan is on track by the way, uk retail sales came out this morning positive read. warm weather and the religious holiday eve is said to have boosted sales. we finish with a couple of bright spots in europe we travel from tui announcing they sold the remaining 8.5 million shares in global shipping company hapag lloyd they look to transform its tourism business that stock up just fractionally. hapag up 10% on the day. back to you. >> thank you very much >>> let's send it over to sue herrera with the news update >> hello, mike hello, everyone. here's what's happening at this hour president tweeting he's working thoord secure los angeles bid to host the 2024 olympics it comes as an l.a.

and pearson, as well. 22% stake in penguin random house. keep an eye on that. reiterating the 2017. talk about u.k. politics. plenty of that coming up. as is bloomberg. ♪ as ♪ guy: welcome to bloomberg markets, the european open. s equities about to open here in europe. the first trade of the day. matt miller is back in berlin. what are we watching this morning? is britain heading for cross party cooperation? ideas for the opposition in a speech later today. the view from professor john curtis. the president's oldest son was told

as has her publisher, penguin, which is part of random house.aling this little-known author from albany, new york, his ideas about a book for kids that is kind of inspirational and tells a story of who have overcome a great deal. he thinks she stole his idea. >> tucker: i haven't read her book, i've only read about it, but some of the ideas with respect seem ordinary. is it possible that may be the ideas are so obvious that she picked them up? >> it is possible, absolutely. she has not responded to the charges yet, nor has the publisher. we don't really know what she has to say about it. but the author, kimberly, he is saying he actually pushed his book on the publisher, try to get published by them, and he says that they took his idea, sent it to her, and she interpreted it in her own way. but still, it was his idea, his concept. >> tucker: interesting. chelsea clinton has been the recipient of many awards, not surprisingly given her awesome achievements, including a lifetime achievement award. does this imperil any of those awards, do you thin