quinn. >> thank you very my name is john quinn. i'm here to testify on behalf of the council and coordinating committee. public interest programs at the university of massachusetts goal of law is right next-door to the port of new bedford, one of the leading fisher ports in the nation. i have been involved in fishery issues for the last 30 years as a lawyer, state legislator, and for the last five years, as a member of the fisheries management council. commercial, recreational, and subsistence fisheries are key contributors to our coastal communities in the nation's economy. the council is a cornerstone of the regional system created by the act, and as a group we are strong believers in its benefits. today will highlight the issues that detail in my statement on three themes come the need for management flexibility, the importance of our public process , and a need for adequate resources. then he begin with management flexibility. the wide variety of fisheries means that no single solution to management challenges will work in all

quinn? >> thank you very much, chairman sullivan and ranking member peters, my name is john quinn and i'm here to testify on behalf of the council coordinating committee. by way of background, i'm the director of public interest law programs at the university of massachusetts school of law in dartmouth which is right next door to the port of new bedford, one of the leading fishing ports in the nation. i've been involved in tischrys issues for the last 30 years as a lawyer, a state legislator and for the last five years as a member of the new england fisheries management council. commercial, recreational and subsistence fisheries are key contributors to our nation's economy. the councils are the cornerstone of the regional system created by the act and as a group we are strong believers in its benefits. today i'll highlight a few issues detailed in my written statement grouping the three themes -- a need for management flexibility, the importance of our public process and a need for adequate

like kyle quinn. >> were you in fact in charlottesville at all? reporter: shaming usually dies down after a week or so. according to john ronson for the victim is it not over quite so soon. >> a year and a half they get a new job not thinking about it every morning not wake of in the middle of the night. >> even then a shaming is tied to the victim forever. >> their google search results will always have the transgression at the top. >> what its the advice you give to the shamee. >> i know what its look to be you. and i'm sorry. >> can you say it does get better? >> it can get better if the you've face what has happened and you really become, come to terms with, what happened. you really did get, ostracized and publicly humiliated. and it probably wasn't fair. >> he adds they should remember this. >> i would tell them that they are deeper than the comments. that they are love. they don't need to question their worthiness. >> i wondered if there is any hope that the internetd might become a kinder place. >> i wish that i could say that, twitter wil

vonnie: and i am vonnie quinn.he european close. ♪ mark: hereunder a top stories we are covering around the world. we will cover the latest opportunities in emerging markets including south africa where the parliament is taking a critical vote on whether to remove the president from office. and retail, michael cores gaining, today. the right strategy to deal with north korea.

. ♪[ music ] >> quinn: eric, be reasonable.e can't let that woman live here. >> eric: she has a concussion. >> quinn: yeah! >> eric: because of you. >> quinn: no, i'm not taking all the blame for this. >> sheila: i -- you know, i don't want to cause any trouble. i just -- i just want to go back to my hotel room. >> eric: the doctor says she can't be left alone. >> quinn: yeah, but she won't be alone! send her to a hospital! if you're really that bad off, isn't that where you should be? >> liam: hey, so -- oh! >> bill: [ groans ] >> brooke: [ giggles ] >> liam: um, yeah. i -- i was just gonna head out. i was gonna say good night. uh, don't forget about the conference call with the new york office first thing tomorrow. >> bill: no, no, no. i'm gonna let you take over that little chat with karen. >> liam: okay. >> brooke: tell her hello, and

quinn, thank you for all of your work. you know as well as anybody knows in our country, that n.o.a.a.'s data shows the climate change will have a pro fund impact on our oceans and marine life, with many species moving north into new areas, or into deeper waters. ocean acidfication and other species black sea bass in later numbers off the coast of massachusetts. that would be devastating to shell fisheries like we have in massachusetts, new bedford is the highest grossing port in the united states and 78% of landings are scallops. and new bedford was most at risk in the nation due to ocean ac acidfication due to climate change. what do regional councils have to those that are moving due to climate change. >> new bedford has been the highest grossing port for the last 15 years in a row. so very good news. i think, unfortunately, we do not have a switch that we can flip and lower the water temperature or decrease the association acidfication. >> we can get more data for trends of fish moving and ocean acidfication affecting

i'm vonnie quinn. ."mber "bloomberg mars ♪ vonnie: from bloomberg world headquarters in new york, here are the top stories on the bloomberg and around the world we are following this hour. speaking out. before google engineer fired for his views on diversity talks to bloomberg exclusively. what he says executives are smearing him. this as google's ceo is set to hold a town hall today on the controversy. then, is the u.s. ready for inflation? why many customers are saying rising prices, a weakening dollar, and a tighter job market will mean tighter pressures for the economy any day now. the new mission and challenges facing facebook in another bloomberg exclusive. the coo will talk on the was with possibility to do good

john quinn and mr. chris oliver, noaa assistant administrator for fisheries also known as the administrator. 11 years ago created the ccc. the ccc can you leadership of the regional fisheries management council to discuss a common interest and i'm pleased to have dr. quinn here today to discuss consensus views of the eighth council of the msa reauthorization. i'm also pleased to introduce chris oliver, first-ever alaskan to permit to hold the position of the assistant administrator for fisheries before becoming director, chris spent 27 years working at the management council as the executive director and i can tell you we are thrilled to have you in this very important position. based on its work in the gulf of mexico at the beginning of the career with the largess and best managed fishery with confidence under his leadership the last american interests will be well represented in the concerns and perspective of the commercial charter recreation alike will be valued. for so many alaskans and their famil

i'm mark barton. >> i'm vonnie quinn.s is the european quinn -- european clothes on "bloomberg markets -- european close" on bloomberg markets. mark: the top stories that we are covering from the bloomberg and around the world, stocks in the u.s. in europe both falling as nations warned north korea not to shoot missiles towards guam. we will look at how this ruling crisis could if act asset classes the stock going forward. and in u.k. politics, the effects of brexit at once again hit the great written london property prices, slumping and dragging down the gains in the rest of the country. theresa may, split on a path forward. we are going to hear from the google engineer at the center over the dispute in a diversity intact tech and free speech in the workplace. he says companycu

i'm vonnie quinn.loomberg markets. the president and his wife are just getting off of air force one arriving in texas. they are going to be meeting with local leaders and local officials taking a helicopter to see some of the damage it hurricane harvey brought on that space. it's not clear according to the white house press secretary if they will actually be able to visit any areas on the ground. they have arrived at corpus christi. they will talk to officials about federal and state and local aid. he's returning to another part of texas on saturday. let's bring in kevin cirilli. he's with us in our washington bureau. president arriving to scenes of great happiness. maybe he can provide some hope to the people of texas dealing with a lot right now. >> the president arriving in texas. we just received word. headlines crossing the terminal now. he will actually be returning to texas on saturday and vice will arriveke pence on friday. i spoke with several sources earlier today who tell me that this admini

. >> quinn: [ sighs ] i can't focus.an think about is eric. >> ridge: you haven't heard from him? >> quinn: i keep calling him, but he's not answering his phone. >> ridge: well, then, maybe going to the office is a good idea, take your mind off things. >> quinn: where is he, ridge? where is my husband? >> ridge: telling you where he is is not gonna make a difference. >> quinn: i am his wife. we need to communicate. otherwise, there's no chance for us. the divide between us keeps growing every day that we're apart! ♪

vonnie: in new york, i am vonnie quinn. "bloomberg markets." ♪ mark: here are the top stories we are covering from the bloomberg and around the world. tropical storm harvey strikes again along the eastern border of texas-louisiana. we could see some massive rainfall tying into its u.s. economy going forward. ecb get set to review policy next week. there are concerns about overshooting euro. how vulnerable is it to a correction? meanwhile in the u.s., the dollar is gaining. aning in moments, we have interview with warren buffett. we will talk about his latest investments and his annual charity lunch in manhattan.

vonnie: i am vonnie quinn.ean close on bloomberg markets. ♪ mark: the top stories we are covering on the bloomberg today. janet yellen spoke at jackson hole and mario draghi will speak later in today. janet saying any changes to financial rules should be modest. secretary, aign leading backer of brexit, acknowledges that britain will have to pay to leave the eu, well he terms continue to get softer and softer? the money behind the mayweather macgregor mega fight, the biggest financial winners from the tomorrow -- by tomorrow. -- fight tomorrow. one of the biggest in recent history. european

vonnie: i am vonnie quinn.julie hyman julie: there is one asset bucking that trend. joining us is eric balchunas. you have research published today and then we are talking in bonds these days, we are frequently talking about jeff gundlach in the headline is that gundlach and co out last equity peers for a reason. what are you talking about? eric: gundlach and gross are managers we all know. you can hardly name and equity rockstar anymore and they are dying breed. the reason is that active fixed income is bucking the trend in terms of outperforming the benchmark. it's all about performance. when you look at the s&p index versus active report, when we looked at our data, we found the same thing. you look at credits, corporate high-yield in investment grade, bond managers are killing it. they are generally outperforming the index. 75% of them will outperform the benchmark compared to equity. you're looking at 25% over five years. part of the reason is that debt managers just have more levers to pull. they can take

am vonnie new york, i quinn.-beta etf's have let -- yet to take effect in the fixed income change. here with us is air ball tunis -- eric boulton us -- eric b alchunas. specifically when it comes to smart beta, why has it not taken root with fixed income? eric: because people interested in outperforming are happy with the active bond interest fund. there is less room to exploit. on the equity side, people were not happy with equity managers the last decade. etf's had. if you look at how credit managers are outperforming, there are tricks. they will take duration bets. is isart beta really taking things smart managers did to get alpha and converting them into an index. are looking to do those things and convert that alpha technique into it and index for a third of the price. ultimately, if people start looking at costs, and they say the beta etf's does the same as an active manager but does one third as much, that could move the needle. julie: what are some examples of this strategy, where you convert the more act

and i'm vonnie quinn.ing to show dominance as both revenue and ernest -- earnings topped estimates. 56% in jumped more than the last quarter, initially pushing shares up more than 7%. joining us with more now, taylor , the stock slightly more muted now? taylor: yes, jump into my terminal here. you can take a look at that revenue growth really bouncing back. if you want to go down to the bottom line profits, it's doubling almost 90%. they are basically talking about e-commerce business, adding users and increasing the spending of those users. here,e a pie chart showing 70% of the revenue in the last quarter coming from that e-commerce business with 8% coming from the crowd -- cloud. analysts were worried about these two key areas. the core e-commerce business. they both met expectations with a lot of those concerns set aside for now. i have another chart i want to show you on my terminal. alibaba versusat amazon. so often i sit here and talk about amazon and how it is taking over the world, but if of aook,

i'm vonnie quinn. market." "bloomberg ♪ vonnie: here are the top stories we are covering from around the bloomberg and around the world, raising the stakes and upper -- doubling down on the comments in charlottesville. >> there is blame on both sides. doubt about it, you don't have any doubt about it either. vonnie: will republicans continue to abandon the president? then, talks to renegotiate nafta, the north american free trade agreement, getting underway in washington. just saying that nafta needs updating on energy. he said that they have failed countless americans. oil traders are keeping a close eye on inventories. will the numbers be low enough for the cruise to make a sustained rally over $50 a barrel? we shall see. .bigail doolittle is here it is a slow start but we are in the green. abigail: in the green after mixed trading action yesterday, if the dow can hang onto these gains the s&p 500 and nasdaq down yesterday. thursday's big decline, the bulls are in control. let's take a look at the stocks goin

. ♪ vonnie: i am at vonnie quinn. mark: i am mark barton.e are counting down to the european close in 15 minutes. let's talk brexit. the latest round of talks ending in a stalemate. michel barnier and david davis spoke in brussels. separation from the european union and our relationships are inextricably linked. supervise, to enforce our laws must not and will not the undermined by brexit. >> this is not about skipping ahead, or trying to reopen previous discussions. it is about pragmatically driving the process. >> after this week, it is clear that the u.k. does not feel legally advised to honor these obligations after departure. >> let's continue to work together constructively, and talk to people about the process. mark: joining us now is the reporter who covers brexit for bloomberg news. was any progress made in round three? reporter: not really. there was some sort of technical works done on some of the complicated stuff, but when it comes to the politics, these sides are as far away as they have ever been. the biggest issue is this bil

i ame: from new york, vonnie quinn.opean close on bloomberg markets. ♪ mark: here are the top stories we are covering from the bloomberg and around the world. u.s. treasury secretary steve mnuchin is said to deliver a policy speech on his vision for the u.s. economy. amid thened this turmoil surrounding his boss, donald trump. goldman sachs is seeking big names. we will take a look at who may come on board. warren buffett loses his bid to purchase texas utility, encore. how big a blow is it to his strategy? we will look at other energy deals. --opean equities are trading 30 minutes away from the end of the monday session. most stock

dad is leaving quinn? >> quinn: don't give up on us, eric. i know it won't be easy. i hurt you terribly, and it's gonna take you a long time to get over it. but we -- we will get over it. we can't get divorced. >> wyatt: i'm serious. don't you think we owe it to

i am vonnie quinn.re looking at marie 1. donald trump will disembark and had to air force 1. there is the president disembarking from marine 1. he will make the flight to phoenix on air force 1 and scheduled to land around 7:00 p.m. eastern to give a make america great again rally at 10:00 p.m. eastern. the president is on his way to the rally in phoenix at the phoenix convention center. sticking with the president, he vowed as a presidential candidate to reduce america's military involvement of board -- abroad and defeat islamic state terrorist. , hisal james stavridis career in the navy spanned 37 years culminating in service as nato supreme allied commander joins -- joined "bloomberg america's"daybreak: earlier. presentstavridis: the -- president had three bad options on the table. the one is to completely withdrawal, number two was a surge where you really push 100,000 troops into afghanistan. no one has the stomach for that. middle eastrmous fatigue so you end up with this minimalist strategy. is t

vonnie: i am vonnie quinn. big u.s.y earnings season but a bank analyst at wells fargo securities is optimistic about the road ahead. >> we are structurally bullish on banks at wells fargo securities, balance sheets are the strongest they have been in a generation. we have had a permanent structural risk reduction. regulators have forced banks to increase capital liquidity and banks can withstand not just one financial crisis that to financial crisis, based on the fed data. it is not just the risk reduction, we think revenues are poised to break out. a combination of the headwinds. the biggest noncredit headwinds in the history of u.s. banking now over the a few interest rate hikes help, this is before big benefit from lots of rate increases, the regulation, or reflation trade. you have revenues and returns going higher with risk going lower. a paradigm shift for valuation. positive outlook distribute evenly across the sector, particularly with big body banks as opposed to regional banks and community banks? equally ben

i am vonnie quinn.k: i am mark barton county it down to the european close in roughly 10 minutes. negotiations turned tense. u.k. failed to prepare adequately for the talks. >> i've read all the position papers produced by the your majesty's government and none of them is satisfactory. there are still in enormous amount of issues that remain to be settled. mark: back with us from boston is dan fuss. thanks for sticking with us. i'm looking at the u.k. 10-year and you have not been below 1% since the middle to end of june a few months ago. round three of brexit talks are underway. what does the u.k. fixed income space look like given the uncertainty around the outcome of brexit? dan: well, it looks much too pricey just to be blunt. the currency has been up against the u.s. dollar, just under 5% year to date, but recall that it got really clobbered after the brexit vote. it is still well below that level by say approximately 10%-11%. the point is here that we worry about our political situation. my goodne

vonnie: i'm vonnie quinn is. -- i'm vonnie quinn.ets." ♪ o's aggressive canes could put it in parity with the dollar by the end of the year. france's image. bruno lemaire speaks to bloomberg says his nation is determined to come out on top. >> we will win the race because we are taking the right decisions and we are standing firm. mark: is the bond

i am vonnie quinn.are 's business is losing. the company boosted strong growth. we sat down with jack dorsey elsewhere's headquarters -- at square's headquarters. what is the biggest driver for square? core business, that is what we are most proud of, continuing to build and is scales, where we see more of our small businesses, more independent contractors. we set in on the call. we realized recently that we're not really competing with financial institutions and banks and international lenders. our average loan size is $6,000, so we are competing with people going to their friends and families at asking for a loan, and that is a massive market. so we continue to innovate within that space, but it has gotten great fundamentals to it. it is something that continues to be attractive to all of our specialists. emily: you are rolling out a product line, trying to diversify revenue, as you say, all in one solution for businesses. where do you see the most promising sources of new growth in the future? jack:

vonnie: and i am vonnie quinn.elry maker pandora fell as much as 13% as the company warned of a typical retail environment, particularly in the united states. isning us now with more taylor riggs. pandora is a purveyor of all kinds of jewelry at affordable prices. what went wrong? taylor: shares had their biggest drop since april and the ceo highlighted the u.s. retail market as the problem child. if you go back a year on the price target, you will see it separate a lot in 2017 after what was generally a couple good -- generally a good couple of years. the u.s. is one of the biggest markets measured by sales. traffic.line in mall he highlights this broad-based recovery is not translating into higher sales from the consumer. i also wanted to look at pandora compared to the dutch benchmark equity index it is compared to an you can see that pandora has suffered a lot compared to some of its peers. income fell, also missing estimates. chief executive points to a structural chunk to -- challenge in the united states. is

i'm vonnie quinn.ard to 3% in the u.s., the fastest pace in two years. stronger household spending, and a bigger gain in business investment. says investors should proceed with caution when it comes to markets. bearsnot predicated on use of the global economy, so let's find out what it is predicated upon. almost $1 billion in assets under management, and he joins us from boston. earish viewr bar based on? lexus i mentioned in our latest research piece, we are not bearish. if you asked me the direction of the market, i would probably tell you it would go up. we think the equity markets will have pockets of returns, but this is all happening in the environment where all asset classes are barely stretched -- fairly stretched. so as these metrics continue to rise, the risk return ratio continues to deteriorate. that portfolios should be positioned more conservatively, if only because the risk adjusted return is probably deteriorating. vonnie: but with equities continuing to show their resilience time and t

vonnie: in new york, i am vonnie quinn. this is the european close on "bloomberg markets." ♪ mark: here are the top stories we are covering from the bloomberg and around the world. tropical storm harvey strikes again along the eastern border of texas-louisiana. we could see some massive rainfall tying into its u.s. economy going forward. ecb get set to review policy next week. there are concerns about overshooting euro. how vulnerable is it to a correction? meanwhile in the u.s., the dollar is gaining. aning in moments, we have interview with warren buffett. we will talk about his latest investments and his annual charity lunch in manhattan. taking a look at how european equities are trading right now at 30 minutes before the end of the wednesday session. we are seeing a rise in four months year. for now, we have on yield rising along with commodities. -- we have bond yields rising along with commodities. the euro temporarily rose above one dollar 20 against the dollar. it makes a question of if the odds of intervention fro

i am vonnie quinn.sazine publisher time inc. looking for cost-saving initiatives as the company reported lower second-quarter financials today. advertising revenue set to $374 million. or advertisers shift away from print media to digital platforms. whos go out to david westin is joined by the president and ceo of time inc.. david: we are joined by rich battista. welcome to bloomberg. as kobach back to those earnings you announced. you missed estimates a little bit on your revenue. you actually beat on chairs so tell me what you got most out of this earnings report? rich battista: one is, we beat so we areations pleased with that. for us, really, not the exciting announcement today, it is the strategic transportation -- program. we put up a plan that we are confident about in terms of creating growth and check rates for this company for the next three to four years. toannounced that we see 500 600 million minimum over the next three have one -- 3-4 years. >> both on the revenue side and cost side. you a

vonnie: and i am vonnie quinn.ean close on bloomberg markets. ♪ mark: here other top stories we are following from the bloomberg and around the world. tropical storm harvey is pounding houston, texas with massive rain. damage totals could rise -- could run as high as -- how are value investors finding opportunity? we speak with john rogers, chairman and chief executive of our real investments -- ariel investments. theresa may is facing new pressure. the opposition labor department -- labour party demanding great britain stay in the single market for up to four years. will she give in to their demands? we arenu

i vonnie quinn.

i am vonnie quinn.fter threatening a government shutdown, donald trump is blaming the debt ceiling on gop members of congress. this morning, he wrote -- joining us from washington is bloomberg's senior white house correspondent, margaret talev. the president has suggested something absolutely unpalatable to republicans. they will never agree on this among themselves, right? >> this gets sort of, located, but let's try to unpack it. did the white house try to tie the debt ceiling increase to the va bill?-- yes. was it a slam and unanimous path forward? no. is this a hugely contentious issue inside the republican caucus because some of the conservatives the president considers crucial to his legislative path in the fall wanted to attach spending cuts to a debt ceiling increase? yes. there are two storylines to watch. what is the president's desire on the debt ceiling? how does he want to proceed? on with theg fighting inside the republican party, particularly the fights the president has been picking with

vonnie: i am a vonnie quinn. this is the european close on bloomberg markets. ♪ mark: a massing -- massive plunge and providential. underway.gation is are things really as bad as they seem? , phillips ands responding to activist pressure, now in talks to sell it u.s. shale assets, why are they reversing calls. we will hear from their chief executive. bonds are the alarm bell surrounding the credit market selloff, are they a bit overblown? again takels month charge in u.s. and euro credit? european equities trading now 30 minutes until the end of the tuesday session. stocks are rising with volume low, down 36% on the 100 day average, up for the first day in four. all of these currencies falling against the dollar with bond yields gaining and commodities. 100th day anniversary since emmanuel macron became the french president. the french benchmark, the first round, frank stocks rallied in the wake of the first round which led to the second round and led to the bakery of marine le pen. potential winners of the promi

i'm nejra cehic with vonnie quinn.ies finishing of the day in european trading, let's take you to raleigh market action today. starting with equities you can see green across the screen on the left. seeing a bit of a broad-based rally with european equities gaining both in the core and the periphery. 61.5% and the german dax up 1.4%, the more still in more than four weeks. the u.k. rising the most in more than a week. part of that downs to her relief rally, so that could be down to the fx space as well. as we take a look, we are seeing weaker euro and sterling on broad-based dollar gains, the euro off by .4%, sterling at 129.80 down .3%. seeing a bit of a divergence between the core and the periphery, seeing yields rising in germany and france and the u.k.. spain two-year yields hitting a bit of a low. taking a look at a deeper dive into the stoxx 600 as equity markets close up for trading. this is rebounding from a five-month low and also rebounding after the worst week for the stoxx 600 since november. on thatat the

i'm vonnie quinn.ark: i'm mark barton. counting down to the european close in 14 minutes. yearreflecting today on 10 since the start of the credit crunch. today marks a full decade since -- exposed to sue u.s. subprime mortgages, an event that triggered a credit crunch. assets have largely recovered. we are putting the question to james athey -- i want to show you this chart. , but befored on qe then, the ecb did a lot. james: absolutely. in the u.s., you had recapitalization of banks, you had liquidity provision, a huge amount of rate cut before you got near to the conversation on qe. it has been quite an incredible journey. ,ark: looking at credit spreads reflectds and liquidity what central banks are about to embark on or not? james: i don't think many markets do. that does feel to me something which at the moment markets are putting into that folder of "i "ll deal with that later" or we will wait and see" to some degree. we evidence float and didn't know what it meant. when we had the taper tantrum

i am vonnie quinn. welcome to "bloomberg markets."ters in new york, here are the top stories on the bloomberg and around the world we are following in the next 60 minutes. the remnants of hurricane harvey hammering houston. floodwaters in america's fourth-largest city shuttering refining capacity and two of the biggest ports in the united states. amazon is putting its stamp on whole foods. the largest online retailer spending its first day as owner of a brick and mortar grocery chain, slashing prices. our details on the grocery wars this hour. and uber is set to pick the expedia boss for its new ceo. can he turn around consistent losses, tarnished brands, and low employee morale. taylor riggs is with us.

. >> host: zoe quinn, when you first on this blog post online where were you, how did you find it? >> guest: it found me. i was actually out with friends with my new boyfriend. we were about come he was about to accept a job in france and is going to go stay with them for three months, crash on his horse like a do what i do from anywhere in the world. we were so direct my birthday and my phone started buzzing and buzzing and buzzing and buzzing. it's sort of like counting the time between thunderclaps t two cfr the storm is. like the time between buses got shorter and shorter. my phone was filling up with all liflike slurs, really, really sexually charged threats and assert that to work backwards from that. all i knew was a friend of mine had said i don't know if you know this but somebody just registered these forums and posted this like really far out there thread about you. i got deleted immediately but he shopped around to different forms a pilot a place that didn't care picked it up and ran with it. i just watched for the rest of the night because already got used to screensho

i'm vonnie quinn. this is "bloomberg markets."ajora quick of averages, we've been lower for a second session but really where talking about fraction of a percent here, the dow down 56 points, 1/4 of 1%. draghi lower by disney. the s&p 500 down more than 1/10 of 1%. let's get to the first word news this afternoon tried mark crumpton is here with mark. mark: the british ambassador to the united nations says the u.k. stance, quote, shoulder to shoulder with the united states in tackling the nuclear threat from north korea. he said both countries have been clear in demands to pyongyang to halt its nuclear and icbm programs. korea holdst north the key to sanctions being lifted. u.s. secretary of state rex doesn'tn said he believe there's any imminent threat from north korea. the secretary also told reporters he thinks president trump's warning that north korea would face, quote, fury and fire was appropriate. north korea has had its considering missile attacks on the u.s. based on guam. officials say french police are searching a build

i'm vonnie quinn. let's turn to commodities where the u.s.nt agriculture released its latest reports just a short time ago. prices are plunging after crop estimates came in higher-than-expected.for more on today's report in the state of u.s. agriculture, let's go to washington, d.c., and bring in allen, who covers the usda for bloomberg. he joins us from washington. before we get to alan, in fact, we are going to give you a rundown on what some of those reports suggested. we have copper declining. stockpiles there dropped. volatility spiking.not just on stockpiles . it is also to do with global tensions and global growth as well. on youro cmds go bloomberg, you will see the various commodity prices. it is pretty much a red screen across the board. when it comes to sugar-free so soy, theyre all -- are all down. why are these across-the-board misses for d.c. analysts? >> a lot of it is because the analysts are looking at major growing regions, indiana, iowa, illinois, and there have been weather problems, but it is literally an issue of periphe

i'm vonnie quinn.nt to bring you an update on our unfolding story -- a van mow down kardashians in -- on las ramblas. local media reporting the driver of the van had fled and was hold up in a nearby restaurant. policing there are multiple deaths and injuries in that massive -- that is there were -- mowing down of people. we'll bring you more as we get it. elle brands tumbled to its lowest level in almost six years, on a set of earnings that highlighted declining stained sword -- same-store sales. emma chandra is here with more. i will only point out once it is the owner of victoria's secret. emma chandra: they also cut the forecast for the second half of the year. i want to have at top line concerns you mentioned -- especially declining same-store sales. we put a chart here that shows what happened to them last quarter. 8%, worse thanl estimated decline of 7%, but what is more concerning for them is over at victoria's secret, l brands owns -- they fell by 4%. another chart we have shows you that a vict

i mark barton with vonnie quinn in london.nie: this week, we hear what former presidents bill clinton and george w. bush had to say about their biggest accomplishments while they were occupying the white house. >> what would you say in your 8 years you were most proud of having done? >> i was most proud that when i left office, we had the broadest period of shared prosperity in 50 years. the bottom 20% income in percentage terms, and nobody was mad at anybody. it was shared across racial and religious and regional lines. did abolished inequality? no. you cannot in a market society, but at least we found a way to have more shared prosperity, including three budget surpluses. >> what would you say in your 8 years? president bush: my daughter loves love me. [laughter] president with: it is a itllenge -- president bush: is a challenge to have daughters when you are president. our family unit strengthened. i think that is a great a accomplishment. vonnie: former presidents bill clinton and george w. bush. you can catch the whole in

vonnie: i am vonnie quinn and this is the european close on "bloomberg markets."n quiet, but that may change as the carmaker is issuing its subprime debt. the books are set to close sometime last night on the west coast and soon in new york. here's bloomberg's taylor rigs. we have been waiting with bated breath for this. taylor: we were talking about this one ceo elon musk hinted that they may use debt financing. you do see that they're looking to this bond sale to ramp up production to about 10,000 model threes by next year. vacancy overall on a one-year basis that you have the technicals that look pretty good. are above 50 on the 100 and 200 moving the average. on the fundamental side, a few concerns from analysts. vonnie: really? shocking. taylor: there surprised that tesla had to come to the market this soon. they thought they could wait another year. using debt to fund negative free cash flow is pretty speculative. overall, just a few concerns here. if you want to take a look at my chart and look at the debt, we have been talking a lot about tesla's balance s

i'm vonnie quinn. third time's the charm.cing another scandal, most recently for charging on auto insurance. they are also facing a leak and you cannot forget those fake accounts in a scandal. could this be a rare buying opportunity for the stock or has the bank lost its former glory? laura heller joins us. it does say it's a little black-and-white to say to either a buying opportunity or maybe it's something in between. laura: if you're at the precipice where wer you are looking for bank stocks to buy, you'll either buy or pass. vonnie: what should we do? laura: not come up with a conclusion, but we have looked at something and how the stock has been trading. it is at a six year low when you look at the price to debt ratio of wells fargo compared to its competitors in the banking index. that right there is the lowest it has been since 2011. obviously the bank has lost some luster here. as you pointed out, you can either look at it as something where to cheap opportunity and still supported by warren buffett. it has a good ba

with vonny quinn.shing in europe. .07% was the figure i told you we need to rise to gain for a second week. looks like we won't gain for the second consecutive week. down by 0.3%. janet yellen bursting the enthusiasm around equities today by not speaking about monetary policy. she spoke about financial regulation and stocks were up ahead. and had just been dropping ever since. retail, real estate, food and beverage leading the decline. three years ago, draghi last went to jackson hole and three years ago he laid the foundation for q.e. that was in the following january when he actually announced it and then in march of 2015 when he actually started his q.e. program. this is a great shot which shows you, as it says, euro area economy has improved since draghi's jackson hole speech in 2014. these are key metrics since draghi last spoke. opposite p.m.i., headline inflation, year to date g.d.p. growth, which is why the torque has turned to analysts and the investment community to policy and normalization.

vonnie: from new york, i am vonnie quinn.uropean close on "bloomberg markets." ♪ mark: here are the top stories we're covering from the bloomberg and around the world. there is no escaping brexit. it will continue to take a toll on u.k. investment and growth, one says. we will go through the headlines as the central bank -- pressure.under will the bank change its tune after rewarding shareholders? an exclusive interview is coming up. in the u.s., for goldman sachs president gary cohn is one of the front-runners to head the federal reserve. how would his style clash with the fed's more reflective culture?

. ♪ vonnie: live, i'm vonnie quinn. mark: i am mark barton. >> president trump this morning saying options are on the table when it comes to north korea. the white house issued a in thent before landing pacific. presence of north korea signaled its contempt for all members of the united nations and is only increasing and zone isolation. president trump is on its way to texas to get a first look at the disaster. inundated with floodwaters caused by tropical storm harvey and they may get another 20 inches of rain. some estimates say damage may reach wanted -- disrupted production. harvey may make a second tomorrow on the texas louisiana border. the president is pleasant to get emergency funding to texas quickly. the promise may collide with the reality of how congress works and lawmakers have usually asked for details in plants. conservatives are likely to toand a be offset by cuts spending. global news 24 hours a day powered by more than 2700 --rnalists and analysts in in more than 120 countries. >> thank you. for more o

vonnie: i am vonnie quinn. mark: i am mark martin -- mark barton.he bloomberg brexit barometer is slipping. u.k. consumers cutting back on spending for the third july. pay $47 is prepared to billion to leave the eu. steven isaacs -- we woke up to this big story that the u.k. has decided it will pay 40 billion to move along the talks but it seems that that is not the case. talksstuck in brexit purgatory. guest: i like this story. this is a push back -- everyone was on holiday. they want to find some sort of compromise. finding is that you cannot get it through parliament. parliament is suffering. we have been down the path because the supreme court has said this cannot be done by executive privilege. i include the house of lords. the government is a huge problem here. it may not be able to get any deal through parliament. cabinetes seem that the is converging rather than diverging over the village. a transitional deal. would you concur? it seems to be an acceptance that there has to be one. weather isn't agreement -- where there is not agreement is t

i am vonnie quinn. this is the european close on bloomberg markets. ♪ mark: here are the top stories we are covering from the bloomberg and around the world. u.s. treasury secretary steve mnuchin is said to deliver a policy speech on his vision for the u.s. economy. amid thened this turmoil surrounding his boss, donald trump. goldman sachs is seeking big names. we will take a look at who may come on board. warren buffett loses his bid to purchase texas utility, encore. how big a blow is it to his strategy? we will look at other energy deals. --opean equities are trading 30 minutes away from the end of the monday session. most stock markets falling today. dropping for the third consecutive day. uncertainty, across the globe, all these currencies are rising against the dollar. bond deals of falling, -- a big day today in the u.k. on house prices. london asking prizes up. over the last year according to the latest data. that 2014ll below peak which you can see there. london is the blue line and the u.k. as