for nightly business report, i'm robert frank. >> politics in the u.s. and abroad dominating the conversation over the weekend. g-20 group said it was focused on a number uncertainties. >> over the weekend, g-20 finance ministers and central bank governors gathered in a chinese southwestern city and the topic was brexit, brexit and more brexit. there was almost universal concern about the impact of brexit on european growt ther on the global economy. g-20 leaders issued a communique where they said they would use every tool available to them in order to try to prop up growth but because it was a g-20, there wa of specifics. what ted upon was that they hoped brexit would be negotiated upon quickly. as david lipto me, there could be a lowdown investment as well as spending. >> there's an amicable aproef. that they approach this withl ga way to agree on some new rules without creating a period of unnecessary uncertainty. >> since the meetings followed, the republican national convention, thlk trump and his economic policies. there's a big concern about g-20

for "nightly business report," i'm robert frank. >>> coming up, ambitious plan.an japan's prime minister grow list economy by getting more women to work? p >>> he's's a look at what to watch tomorrow. we will get the first read on second quarter economic growth. dow components chevron and exxon mobile report their quarterly results, and we'll also find out whether consumers are feeling more optimistic when the final july sentiment figure is released, and that, folks, is what to watch friday. >> japan's main stock index fell overnight ahead of an expected decision by the bank of japan. some expect the central bank to team up with the government and announce more extreme stimulus measures. prime minist shinzo abe has been trying to reflate his economy for years and part of that plan includes increasing the number of women managers in the workforce. akiko fujita has that part of the story for us fro >> reporter: from vines and twins in the ceiling to a rice paddy in the lobe, employment company persona doesn't resemble typical corporate japan and the ceo is no ordin

robert frank has that story. robert. >> tyler, you could call it the recession of the 1%.ealthy have stopped spending on everything from picassos to penthouses, that's coming right up. ffices. steve, other than making me move stuff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place and lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim. td ameritrade. my m...about my toothpasteice. she eveand mouthwash.ice... but she's a dentist so...i kind of have to listen. she said "jen, go pro with crest pro-health advanced." advance to healthier gums... ...and stronger teeth from day one. using crest toothpaste and mouthwash makes my... ...whole mouth feel awesome. and my teeth are stronger too. crest-pro health advanced... ...is superior to colgate total... ...in these 5 areas dentists check. this check up? so good. go pro with crest pro-health advanced. mom's righ

our wealth editor robert frank has new data you've got to hear, stay with us. >>> this may come as a shock to some people. but our wealth editor robert frank has new data showing the 1% is in the midst of a lost decade or had one i guess. >> i got to hear this. robert joins us now from cnbc headquarters. >> in this political season we hear candidates and pundits talk about record levels and rising levels of inequality between the 1% and the rest. the new data shows it's not true. an analysis of irs data from the economics professor at the university of california berkeley who is considered the leading expert in income data. found income inequality was low lower 2007. it's 13% below its all time peak in 2007. now incomes for the broader u.s. population are also down from their peak but they have regained more ground than the 1%. they're down only 7% from their peak. the 1% also has a lower share of national income than they once did. they control 22% in 2015, that's down from 23.5% in 2007. now no one should feel sorry for the 1%, they still earn more than 20 times the broader populat

robert frank. >>> it is an under the radar name up more than 20% in the past year.pect it to rise another 30% from here. that and two other big polls in "street talk" next. in just over an hour, "the closing bell." right now, the dow basically flat. nasdaq in the green. amazon and alphabet earnings on deck. has to maneuver quickly. that's also true of a good car company. people have always bought cars. but we saw an opportunity in sharing cars. so we moved fast and launched car2go in 29 cities, all around the world. doing that required dozens of data centers, designed for speed and performance. we built our business on the ibm cloud. because that's what the ibm cloud is built for. we built our business on the ibm cloud. this is my new alert system for whenever anything happens in the market. but thinkorswim already lets you create custom alerts for all the things that are important to you. i guess we don't need the kid anymore. custom alerts on tnkorswim. only at td ameritrade. >>> we haven't forgotten about street talk. we'll make it quick and short. first stock, a

cnbc's robert frank is standing by with all of the eye popping details. >> eye popping indeed when itomes to wealth creation. the brothers made their first fortune in casinos. they hit the big jackpot today with the sale of ufc. they each held 40.5% of ufc which they bought in 2001 for only $2 million. they will each get under that valuation $1.6 billion in cash from the sale. now they'll have to pay down some debt and other considerations but before this deal forbes put the network of each of the brothers at 1.6 to $1.8 billion. their true network was far higher before the deal and now it's higher and most of that fortune is liquid. that's because this is their second big pay out in just three months. in april they took their casino company red rock resorts public and netted $400 million in cash. it was founded by their father frank jr. and went into bankruptcy in 2009 after the brothers took it private. now that company red rock has a market cap of $2.6 billion. so that's their second company. now these two brothers are equa companies and they're extremely close. they work out toget

robert frank has the numbers. >> a lot of numbers. a lot of zeros.h beta today, jeff bezos now the third richest man on the planet. his wealth followed the roller coaster of amazon stock over the past year. he started out the year worth around $60 billion. amazon stock fell so his net worth fell to around $43. now it's $65.1, so he's added $22 billion to his wealth just over the past five months. that's just amazing. meanwhile, buffett, well, he sees down though we shouldn't feel sorry for him because he gave that money to charity. he gave $2 billion to the gates foundation. so he's down to a mere $65 billion. so buffett at 65, bezos at 65.1, bezos now above him. what would it take for bezos to be number one? well, gates is still number one in the world with $78 to $89 depending on who you look at for measurements. basically bezos would need another $20 billion or so to reach number one. but at this rate, that's feasible. he and zuckerberg have just been the two wealth rockets of the year. >> well, their stocks are -- >> amazon up 25% in six months.

robert frank. >>> well, that was the scene yesterday.ou're looking at it right now at a pro-bernie sanders rally in philadelphia. it included a giant joint. the question is, will the protests start to fizzle out today after sanders called for party unity last night? we're going to go back to philly coming up. ♪ approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind, medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance company come in. like all standardized medicare supplement insurance plans, they could help pay some of what medicare doesn't, saving you in out-of-pocket medical costs. you've learned that taking informed steps along the way really makes a difference later. that's what it means to go long™. call now and request this free decision guide. it's full of information on medi

robert frank has more on this fascinating. >> from monets to mansion, justice issic contraing down ony assets of the rich. we're going to follow that dark money when "power lunch" returns ♪ odds are you won't leave to see tomorrow ♪ [child speaking indistinctly] announcer: are your children in the right car seat for their age and size? is the seat supposed to be forward-facing or rear-facing? did they move to a booster seat too soon? it may be too late to cck when you'ron the road. [blaring car horn and skidding] fortunately, you're on the couch. hthis bad boy is a mobile trading desk so that i can take my trading platform wherever i go. you know that inkorswim seamlessly syncs across all your devices, right? oh, so my custom studies will go with me? anywhere you want to go! the market's hot! sync your platform on any device with thinkorswim. only at td ameritrade >>> many fear the rise of dark money essentially going to politicians from secret sources. they think it's a dangerous thing, so the justice department is cracking down. rocket frank here with more on the story of art and a

robert frank has more on the story. sflobt. >> a lot more, kelly.he spray-a-thon and the controversy keeps flowing. as we first reported, bret barna was fired after the july 4th fourth burst into the news. social media filled with those pictures of the party featuring more than 500 customers, champagne showers. "the new york post" reported that the owner of the mansion anonymous was threatening to sue for a million dollars for damages. saying the guests wrecked the pool and stole art from the house. it turns out the house was rented to barna for $27,000 by omar amana. the new jersey-based investor arrested last wednesday on charges of wire fraud and conspireing to defraud investors. u.s. attorney's office saying there was a conspiracy to defraud investors with a scheme of a technology company of kit digital. he was not reached for comment or his lawyers. and it's unclear whether or how his case relates to his demands for money in the bret barna party dispute but the lawyer telling "the post," quote, he didn't have sufficient funds to make bail last

cnbc wealth editor robert frank joins us with develops in the big apple. robert?> there are signs of trouble ahead, especially at the very top end of the market. the average sale price in manhattan topping 2 million in the quarter, up over 8% in the year. median sales price up to $1.1 million. the number of sales up around 2% from last year and strength is coming from deals of the past. because buyers who signed contracts for new condos about a year ago when the market was strong, those are now closing as the buildings come online. there are more signs of weakness. inventories up 11% over last year and inventory of existing homes up 25%. that's the biggest increase in inventory in over seven years. even more troubling than that is decline in bidding wars. last year, 31% of sales of manhattan were for above the list price. this quarter it fell by half to 16%. with a lot of those new condo towers under construction, the inventory is likely to continue piling up that's going to put more pressure on prices. now, the higher up you go in the real estate market, the weak

street type party at a rented mansion in the hamptons reportedly left the house in shambles and now robert frankas new news on the story. >> more capital has fired the manager after the wild party in the hamptons went viral. barna hope of theed a spray-a-thon party which estimated 1,000 people, champagne showers, girls in bikinis and the rapper performing on the balcony at the $20 million mansion in bridgehampton. mr. barna's personal judgment was inconsistent with the firm's values and is no longer employed by the company. sources tell me the 31-year-old trader traded in structured data and debt. his performance most recently was not great. every year there is a grady controversial party in the hamptons. par for the course. wealth gone wild. look at all the people. >> i read in the people they actually destroyed the concrete around the pool. >> the owner of the house who is preparing to sue barna said there were 1,000 people at this party. >> 1,000. >> 1,000. that's a fire hazard. >> why wasn't i invited? >> my weekend was really much quieter. >> thank you, guys. >> what a story. >> lose your j

robert frank has the details.s was a very good investment. >> yeah, from ultimate fighting to ultimate wealth creation. check this out, ufc sold to a group led by talent agency wmeimg, a lot of letters there, a deal that will net the billionaire brothers billions in cash. now, las vegas based frank and lo renz o bought for only $2 million. sale price of $4 billion would value their stakes at around $1.6 billion each. now, of course that windfall is probably going to be less since they had a lot of debt, they have to pay taxes, other considerations there, but i'm told it's still a ten-figure paycheck. before the deal each of these brothers net worth around $1.6 billion now much of that closer to $4 billion to $5 billion is liquid. in april they took their casino company red rock resorts public. that netted them and their families over $400 million in cash. red rock used to be called station casinos and founded by their dad frank jr. that went into bankruptcy in 2009 after the brothers took it private. now that comp

robert frank more with that story. >> yeah, the reason this matters is because the 1% are going to represents in the stock market. so millionaire investors say this election is the most important in recent history. and many have their finger on the sell button depending on the results. three quarters of millionaire investors say the election is, quote, a game changer and nervous about the outcome. that's according to a ubs survey of investors worth a million dollars or more in investable assets. millionaire anxiety could lead to large stock sales, 47% of nv investors plan to reduce market exposure as a result of this election and 9% have already sold. but their investment plans and their fears depend largely on their politics. millionaires are sharply divided along party lines with roughly a third, a third, a third democrat, republican and independent, 61% said if their preferred candidate wins, it will be good for the market, and two-thirds said if the opposing candidate wins, it's bad for the economy. now, millionaires say the country is on the wrong track, but they are also sharply divide

our own robert frank joins us now to explain why. good morning. >> good morning.ion in real estate. high end, weakest segment, hitting the hamptons and other vacation towns especially hard. sales falling 21% in the second quarter. low nest three years. average sale prices falling 11% from the previous quarter, and though the average price in the hamptons is still high at a whopping 1.7 million, they are drifting downward. homes sitting on the market longer. the more expensive the home the worse the market. the top 10% of the market in the hamptons had biggest deline cli and sitting in the market over a year. same in aspen, sales crashed from a year ago. inventory in aspen up 14%. palm beach, malibu, all of these billionaire beach towns seen declines in the years the wealthy pulled back on buying because of volatile stock markets and elections and overseas. 20,000 square foot mansion, eight bedrooms, 11 bath, stand wine cellar, mope, gym and price tag, $29 million. now, looking for something more affordable? here's a three-bedroom, two bath in easthampton. about 2,

frank sinatra and dean martin. >> everything in here from presidential letters to robert e. lee's sword. so much memorabilia.verything in this room. >> are you on a wheaties box? >> that's me on a wheaties box. you better not spread that around. >> you're turning your house into a museum for the world to see. >> my wife said to me one day, did you ever think about maybe opening this up to the public? and it hit me kind of like a ton of bricks. the happiest i am in my life is sharing, so why not share one of the things that you love the most? >> wow, and the house is open to the public, like literally, when i'm in vegas, i'm going to see that swimming pool for his horse. >> that is the (male off-screen announcer) what's it feel like to win the mustang instant game, with top prizes of a hundred grand or a new ford mustang? (woman) oh my goodness. woo! (male off-screen announcer) with instant games from the pennsylvania lottery, the instant you play could be the instant you win. keep on scratchin'. >>> travel considerations provided by >>> look at all those stars with birthdays this weekend. fred savage is 40.

frank sinatra and dean martin. >> everything in here from presidential letters to robert e. lee's sword. so much memorabilia. see everything in this room. >> are you on a wheaties box? >> that's me on a wheaties box. you better not spread that around. >> you're turning your house into a museum for the world to see. >> my wife said to me one day, did you ever think about maybe opening this up to the public? and it hit me kind of like a ton of bricks. the happiest i am in my life is sharing, so why not share one of the things that you love the most? >> wow, and the house is open to the public, like literally, when i'm in vegas, i'm going to see that swimming pool for his horse. >> that is the >>> travel considerations provided by >>> look at all those stars with birthdays this weekend. fred savage is 40. jessica simpson is turning 36, soph sophia vfia vergara, 34. and who served as a bellhop? tom hanks, who is 60 this weekend. >>> monday on "e.t," our nick canon, mariah carey divorce exclusive. is he delaying her wedding plans. plus, derek jeter's weekend nuptials, all the "i do" details, monday. >> for all th

committee cochairs, elirley frank and dann malala, as well as the platform committee chairs, elijah cummings and the members of the platform committee. thank you. ♪ representativeme robertdy from pennsylvania. mr. brady: welcome to my district, and welcome to philadelphia, the city that has made america free to date makes street again. -- makes history again. this is the home of the liberty, but independence and liberty have never been given. we have to fight and defend these principles each generation. that has been the work of the brave men and women of the armed services. to all of you who have loved ones serving, thank you. to all who have defended our freedom but never came home, those missing in action, we remembered you. you are not forgotten. americans living in freedom, each of us has a responsibility to always remember the sacrifices of those that did not come home and those whose safe return we're still waiting for. we hold them in our hearts every single day. across this great land and throughout greater philadelphia, in venues from city hall's to sports arenas, an empty chair honors our missing here is. i was proud to pass along and such a place in the unit

frank luntz. and what drove the success of the social giant. more from robert wolf. stay with us.ecking with them, my savings with them, my credit card with them. and then i learned i have this usaa car buying service. the usaa car buying app was really helpful. all the information was laid out right there. i was able to see the savings that i qualified for. it makes your life so much easier when you have to purchase a car, so i've been telling everybody. usaa car buying service, powered by truecar. exclusively for usaa members. >> welcome back. markets under some selling pressure this morning. just fractional moves. the opening bell about 45 minutes away. let's take a look at a couple of stocks on the move. ford shares are under pressure right now after disappointing second quarter results. the auto maker blaming weak sales in china. ford's ceo mark field told us the u.s. economy remains under pressure and took a toll on the broader market. he says he's worried about the retail customer. more m and a technology, oracle is acquiring netsuite. a deal valued more than $9 billion. th

robert who helped recruit her. i want to thank her for making the choice to work for us. andologist her staff who have done incredible work and very committed. frank and tonia are commit today the population. i thought if we have kate [inaudible] i want to acknowledge her because she is leading us and-[applause]-as a leader in jail health service particularly those with hiv i want to acknowledge her and have the commission acknowledge her today. >> thank you. i want to echo the comments of welcoming you and want to just reflect for a few short seconds that our jail house wasn't in this condition when we were [inaudible] back 20 or 30 years ago for nearly a decade and if nothing else that made the city much more away of the need to really take care of this population and dr. goldensteen assisted in doing this. one of the other things we have been asking for i believe and while the commission has been looking at for example public health accreditation as being a positive move to move us into being able to be measured with the rest of the country is that if we believe that our jail system is moving along on a track that jail system and there should b

robert craig wisconsin. i want to say as democrats when we pass important regulation to protect if we don't give toolss to enforce them then it is discredit the regulation if dot frank doesn't work because we do not fund regulation it would be blamed for next financial collapse. so as democrats we're ones who want government to work.be we needs to make sure that regulators have tools to actually make things work that's had all -- so i want to praise congressman waters for putting this forward. thank you. >> thank you very much. those wishing to be heard in opposition please step forward. [inaudible] opposition. thank you.n, go ahead. [inaudible] mr. chair -- thank you. [laughter] no more regulation -- [applause] all right, sir -- thank you, go ahead. come on. we've got work to do. >> mr. chair i'm e-gore emory and i rise to a specific opposition to this or particular amendment and i would like to sponsor this bill, measure to consider removing objectable words and see the word of the other party removed from this amendment. this is the democratic platform and i don't really want to spend time advertising for other parties. so if we can strict nail of that party i'd

robert who helped recruit her. i want to thank her for making the choice to work for us. andologist her staff who have done incredible work and very committed. frank and tonia are commit today the population. i thought if we have kate [inaudible] i want to acknowledge her because she is leading us and-[applause]-as a leader in jail health service particularly those with hiv i want to acknowledge her and have the commission acknowledge her today. >> thank you. i want to echo the comments of welcoming you and want to just reflect for a few short seconds that our jail house wasn't in this condition when we were [inaudible] back 20 or 30 years ago for nearly a decade and if nothing else that made the city much more away of the need to really take care of this population and dr. goldensteen assisted in doing this. one of the other things we have been asking for i believe and while the commission has been looking at for example public health accreditation as being a positive move to move us into being able to be measured with the rest of the country is that if we believe that our jail system is moving along on a track that jail system and there should b

robert who helped recruit her. i want to thank her for making the choice to work for us. andologist her staff who have done incredible work and very committed. frank and tonia are commit today the population. i thought if we have kate [inaudible] i want to acknowledge her because she is leading us and-[applause]-as a leader in jail health service particularly those with hiv i want to acknowledge her and have the commission acknowledge her today. >> thank you. i want to echo the comments of welcoming you and want to just reflect for a few short seconds that our jail house wasn't in this condition when we were [inaudible] back 20 or 30 years ago for nearly a decade and if nothing else that made the city much more away of the need to really take care of this population and dr. goldensteen assisted in doing this. one of the other things we have been asking for i believe and while the commission has been looking at for example public health accreditation as being a positive move to move us into being able to be measured with the rest of the country is that if we believe that our jail system is moving along on a track that jail system and there should b

robert costa, i really like what he's doing with his hair. it's a total mess. it's like bed head. >> we're not talking about the mayor frankho has fantastic hair. >> fantastic hair. >> he joins us next. we'll talk about the security challenges surrounding the convention and ongoing struggles with community policing across the nation. "morning joe" is coming right back. at the beginning of the 21st century, the earth needed to find a new way to keep up with the data from over 30 billion connected devices. just 30 billion? a bold group of researchers and computer scientists in silicon valley, had a breakthrough they called... the machine. it changed computing forever. and it's been part of every new technology for the last 250 years. everything? everything! this year, hewlett packard enterprise will preview the machine and accelerate the future. see star trek beyond. got a quarter? xxxx >>> it's just about 50 past the hour. joining us mayor frank jackson, mayor of cleveland. how are you? welcome to the show? >> thank you. welcome to cleveland. >> we're glad to be back. >> absolutely. >> have you enjoyed your self? >> absolut

robert gray as it does today. former secretarsecretar y of defense chuck hagel will join us. trump supporters scott brown with us and the ceo of norwegian cruz lines, franko is with us. stay with us. big lineup. the republican national convention. donald trump pulled announce his vice presidential pick as house speaker newt gingrich are on the short list as new swing state polls just came out. live in cleveland where we will have the republican convention kicking off this weekend. good morning to you. >> good morning, maria. the latest numbers show the fbi decision not to indict hillary clinton for allegedly mishandling her e-mail may not have done much good for her with voters because the very reliable quinnipiac poll shows are losing support in swing states. trump is now up by three points. 42-39, a state where clinton was up eight at the of last. in ohio, clinton and trump type 41 to 41. in pennsylvania, trump is at 43-41. its debris trail by one must not give pollsters say the thing having hillary the most is her honesty and trustworthiness and trump is looking to keep his upward trend going by picking a popular vice president who is directly got a l

robert who helped recruit her. i want to thank her for making the choice to work for us. andologist her staff who have done incredible work and very committed. frank and tonia are commit today the population. i thought if we have kate [inaudible] i want to acknowledge her because she is leading us and-[applause]-as a leader in jail health service particularly those with hiv i want to acknowledge her and have the commission acknowledge her today. >> thank you. i want to echo the comments of welcoming you and want to just reflect for a few short seconds that our jail house wasn't in this condition when we were [inaudible] back 20 or 30 years ago for nearly a decade and if nothing else that made the city much more away of the need to really take care of this population and dr. goldensteen assisted in doing this. one of the other things we have been asking for i believe and while the commission has been looking at for example public health accreditation as being a positive move to move us into being able to be measured with the rest of the country is that if we believe that our jail system is moving along on a track that jail system and there should b