derby is very proud of rolls—royce, as a business, as a company.e isn't it, really, so it's a shame, isn't it? shops are closing all over the place, lots of people are losing theirjobs and losing their livelihood and i think rolls—royce willjust add to the misery. they say it's management, but it's 4,600 jobs, it's not good news for derby, surely. in the family, my granddad worked there, everybody that we know worked there. it's the main hub of derby's employment, really. it's quite close to our hearts. labour says workers will need support from the company and the government. we want assurances there won't be any compulsory redundancies at all and that they'll use all of their efforts to redeploy staff and find them alternative work elsewhere, while working with the government also in terms of supporting them going forward. rolls—royce made nearly £5 billion in profit last year. it's got a bulging order book. it's also got some serious problems with some of its flagship engine products, so some are wondering whether now is the right time to push t

rolls royce announces 4,600 job cuts.he boss has been talking to the bbc about the massive restructuring, hear his comments in a moment. the markets are not looking particularly good in europe. and we'll be hearing from the founder of a new ad—free social network hoping to take on the likes of facebook, the boss of mewe willjoin us. as a self—employed plumber in london wins a landmark case entitling him to holiday and sick pay, today, we want to know what do you value most — flexibility or employment rights? let us know... just use the hashtag bbcbizlive. hello and welcome to business live. we start in the us with a massive hostile takeover bid for rupert murdoch's fox entertainment business. the world's biggest cable tv company, comcast, has made an unsolicited offerfor $65 billion. it's a direct challenge to rival media giant disney, which had already agreed to buy fox for $52 billion in shares. both firms are battling to adapt to our changing viewing habits. with me is james bevan, chief investment officer at ccla inve

rolls—royce is an engineering giant. aircraft, ships and heavy machinery. but the company's boss thinks it's become bloated and inefficient. so he is planning some radical surgery. this is a very difficult decision. however, we do need to think about all the hard work that's gone in and turning that into opportunities for the future. we are actually trying to create a stronger rolls—royce, which is good for derby and good for the uk. rolls—royce has 55,000 employees around the world. of those, some 26,000 work in the uk, many of them at the company's headquarters in derby. now, it says it wants to get rid of a600 jobs, mainly among middle management and back office functions. it is bad news for workers in derby, because that is where a large number of managerialjobs are based. but thousands of engineering posts will be protected for the next few years. derby's mps have already made their concerns very clear. isn't this a failure of shareholder capitalism, which basically sacrifices jobs on the altar of higher shareholder

the shares have gone up at rolls—royce? the shares have gone up at rolls- royce?bottom line and therefore good for your shares. it depends where you are standing. apple, that as a result as >> studio: cash of what they have been saying, and also we have the pound looking strong. see you in one hour. thank you very much. time for a look at the weather. here's sarah keith lucas. we have some unseasonably windy weather for this stage we have some unseasonably windy weatherfor this stage in we have some unseasonably windy weather for this stage in june, especially across the northern half of the country, breezy where ever you are, storm hector has been named. this is a picture from whitby showing a fairly active and foamy seascape. these are the gusts we have seen from hector, 100 mph in the pennines and the cairngorm mountains. causing some disruption with the strength of the wind. the satellite images showing the storm, pushing its way slowly eased the man for the rest of the day the low— pressure for the rest of the day the low—pressure centre moves to the shetland

and more turbulence for british engine maker rolls royce says it cut almost five thousand jobs. of the program politicians in argentina's congress have approved by a handful of votes to allow women to choose to have an abortion in the first fourteen weeks of pregnancy from. the measure passed to the lower house by one hundred thirty one votes for two one hundred twenty three against it faced huge resistance from the catholic church in what the homeland which is the homeland of pope francis the legislation now goes to the senate currently argentina only allows abortion in cases of rape or risks to a woman's health our correspondent to research is actually following events horse farm boy and as i raise she's outside congress right now a hugely significant decision for argentina. it's a shame because it's the first time that are going on congress to say for sure not to falsify the legal i think it can be criminalizing abortion because this is a country where a woman could have before you did in fact you know having had a course and i think. we have seen women flying outside congres

more than a,500 jobs to be cut at rolls—royce

rolls—royce has a growing order book of over £170 billion pounds.l need more staff directly employed on both the manufacture of components and assembly to meet that demand. the company has told me that it will continue to recruit engineers, technicians and apprentices. i hope he understands clearly the enormous impact, economic and social impact, this announcement will have particularly, as he said on the city of derby, and across the east midlands and elsewhere, anywhere in this country where manufacturing is thought important and particularly where manufacturing excellence is highly regarded. i'm pleased to hear him say that he recognizes the huge importance of a world class company like rolls— royce, especially as we approach leaving the european union. and these are the kind ofjobs, this is the kind of industry, that we want for the future because of its export potential and because its potential across the world. isn't it time that we saw the government legislating to have workers on the boards of companies, so there is somebody there to repres

a more turbulent british engine make a rolls royces it cost so many five thousand jobs. we have a tropical system making its way towards japan once again matt don't think it's actually going to make landfall but a fair amount of cloud and rain spilling in there's that shield of cloud coming in of our next tropical storm here that high pressure keeping things relatively quiet around the sea of japan much of japan as you can see mostly fine and dry for friday west the weather there into that eastern side of q two fos out of honshu go on into saturday not just out into the open waters but the legacy of showers coming in behind it temperatures will fall back in tokyo to round eighteen celsius getting up to the high twenty's across the korean peninsula seoul that at twenty nine degrees there we come down into china nasty weather system here just off shore from that southeastern corner pushing up towards taiwan another system in the south china seas and that will also bring some very heavy rain very close to the southeastern corner of charting see these two circulations showin

rolls—royce is one of the country. there are others as well. and underneath, there is a whole chain of supply businesses. so businesses locally are telling us they are struggling to fill positions, so we would like to fill positions, so we would like to think that the people coming out of these roles will be prized asset and it will not be long before they find themselves back in employment, hopefully. but going back to the number, it is 5000 people. are you saying the local jobs number, it is 5000 people. are you saying the localjobs market is vibrant enough to soak up 5000? over two years, our members vibrant enough to soak up 5000? over two years, oui’ members are vibrant enough to soak up 5000? over two years, our members are telling us two years, our members are telling us they are struggling to recruit at the highest skilled managerial levels. you're right, a600 is a large number and lots of things may happen over those two years, but we are ina happen over those two years, but we are in a good position. the othe

derby is very proud of rolls—royce, as a business, as a company., so it's a shame, isn't it? shops are closing all over the place, lots of people are losing theirjobs and losing their livelihood and i think rolls—royce willjust add to the misery. they say it's management, but 4600 jobs is not good news for derby, surely. in the family my granddad worked there, everybody that we know worked there. it's the main hub of derby's employment, really. it's quite close to our hearts. labour says workers will need support from the company and the government. we want assurances there won't be any compulsory redundancies at all and that they'll use all of their efforts to redeploy staff and find them alternative work elsewhere, whilst working with the government also in terms of supporting them going forward. rolls—royce made nearly £5 billion in profit last year. it's got a bulging order book. it's also got some serious problems with some of its flagship engine products, so some are wondering whether now is the right time to push through such a radical, such

i think rolls—royce will just add to the misery. jobs is still not good news for derby. the whole family, my grandad worked there. everybody we know worked there. it's the main hub of derby's employment, really. it's close to our hearts. labour says workers will need support from the company and the government. we want assurances that there will not be compulsory redundancies and that they will use all of their efforts to redeploy staff and find them alternative work elsewhere whilst working with the government in terms of supporting them going forward. rolls—royce made nearly £5 billion in profit last year. it has a bulging order book and it also has serious problems with some of its flagship engine products. so some are wondering whether now is the right time to push through such a radical and potentially disruptive restructuring programme. if we postpone this now, we will be missing out on the next design opportunities as they come along. if you miss out on these design windows, you're out of the business for the next 25 to 30 ye

derby is very proud of rolls—royce, as a business, as a company., really, so it's a shame, isn't it? shops are closing all over the place, lots of people are losing theirjobs and losing their livelihood, and i think rolls—royce willjust add to the misery. they say it's management, but it's 4,600 jobs, it's not good news for derby, surely. in the family, my granddad worked there, everybody that we know worked there. it's the main hub of derby's employment, really. it's quite close to our hearts. labour says workers will need support from the company and the government. we want assurances there won't be any compulsory redundancies at all and that they'll use all of their efforts to redeploy staff and find them alternative work elsewhere, whilst working with the government also in terms of supporting them going forward. rolls—royce made nearly £5 billion in profit last year. it's got a bulging order book. it's also got some serious problems with some of its flagship engine products, so some are wondering whether now is the right time to push through s

rolls-royce says it would toiver cost savings of up $533 million.is the bloomberg business flash. thank you much, juliette saly, from singapore. the world cup kicks off with the first game between saudi arabia and russia. do you call it football or soccer? let's talk about how the country's stack of economically. give us your unique oil related take on the world cup. against gdp and unemployment, russia clearly tsading the way but popus more than ur times that of saudi arabia. oil form a is stacking up pretty nicely. if you look at how they're doing long-term, russia leading but we know the shouting -- saudi's have the share of capacity. they want to lead by example when the opec cut was announced. you can see the last two years having tosaudi's spare capacity. matt: the oil markets will be paying close attention to the soccer game as they watch football together. teams had the two worst in the world cup rankings for this year's event, but they are the world's largest exporters. what the markets care about is what president clinton will talk will --

in one barn, there was a model t, the rolls-royce, the bentley. it was crazy.eve what we saw. >> would one of the determining factors in this auction being a success be the diversity of the collection? >> i think that definitely is the case because it'll bring in a whole variety of car buyers. >> was his goal to make it up to factory standards or something less? >> i think he wanted to be to cal's standards. a collector who wants a museum-quality car, that's probably not what's in this collection. >> brittney tells me cal's collection will likely attract a big crowd of enthusiasts looking for cars they can still put their own finishing touches on or drive to the local car show without breaking the bank. appeals auction definitely to the average car collector. if you've ever thought about collecting a car, now is your time because there's going to be a car in your price range there. >> that price range starts at about 6,000 bucks for a car like this little hudson metropolitan all the way up to 60,000 for the 1928 rolls-royce. >> we think the collection is going

you know, rolls royce has been around doing aircraft engines for just rolls royce has been around doingr people in management, but it‘s not expected many of the job losses will be in engineering itself. that's important, lost of questions about who will be affected, 4600. you‘ve touched on management. they are pointing out it shouldn‘t be engineering jobs because ultimately that will keep them competitive? there are two aspects to the rolls royce challenge. one is their technological and technical efficiency and effectiveness, and they are world leaders, the other is as an organisation they are seen as relatively cost heavy. the company made a commitment to get two free cash flow of £1 billion by 2020. then, of course, with the problems of the trent 1000 injune, much reported in the media, they aren‘t likely to hit that target —— engine. they say it will cost £500 million to achieve but by 2020 they say they will have annual cost savings of around £400 million. many will look at this headline and say how can a business get rid of 4600 staff and still operate, how can they get it so wron

rolls royce has up nearly three percent on the wake of. ruling child is clearly glad that he's getting a grip on the company's past problems and they believe that he is the mts attended around the c.e.o. so we follow that story in the weeks ahead thanks paul. let's head to the americas now where haiti has banned the british charity oxfam after some of its workers were accused of sexual misconduct the haitian government said the company violated the country's laws and insulted the dignity of its citizens some of oxfam staff including a former country director used prostitutes while working in haiti after the twenty ten quake seven workers have since resigned all been fined. well still ahead here on out is there a tatyana will have the sport peruvian fans get excited ahead of country's first world cup appearance in over thirty years. wow i was. told it was for nothing please football his tuxedo it does thank you very much as to how the waiting is almost over and a few short hours from now the twenty eighteen fever wild cop kicks off when hos

a deal with rolls royce that said there would be no engineering job losses and that promise was made by warren east in his statement to shareholders today he said there would be no compulsory redundancies among the unionized staff. the us media company comcast which owns the n.b.c. television network and the universal film brand has been sixty five billion dollars to buy twenty first century fox now this supper showdown with walt disney which already has its own multibillion dollar bid for the same assets the move from coal gas comes just one day after a judge it cleared a t n t's takeover of time warner while john hendren a small. comcast is offering sixty five billion dollars for the movie and television assets of twenty first century fox that outbids disney which had previously offered fifty two billion dollars at stake are the global television channels such as national geographic. satellite television networks sky in europe star in india and the hulu streaming service which is number three after amazon and netflix why is this all happening now because a day earlier on tuesday u.

more than li,500 jobs are to go at rolls royce engineering in a major reorganisation to save hundreds be relaxed — it's expected more foreign doctors and nurses will be allowed in to help fill nhs vacancies. in the business news... engineering firm rolls—royce is to cut 4,600 jobs over the next two years as it refocuses on civil aerospace, defence and power systems. most of the cuts will be among middle managers and back—office staff, particularly at its derby headquarters. there was a boom on the high street in may, thanks to hot weather and the royal wedding. sales last month were 3.9% up on the year before — much of them in food and household goods stores. they're the best numbers we've had on retail sales for over a year. after spending some 2.4 trillion euros buying up government bonds in order to push money into the european economies and boost lending, the european central bank has said it will wind down its quantitative easing programme by the end of the year — but said it won't put up interest rates until at least next summer. majestic wines, the drinks retailer, is back in p

rolls-royce is flying higher. the stock is up by 13%.t is interesting as well is you look at the number of cells out there and you have only for buys. they're looking a little bit more clever this morning as a result. look at various aspects of this stock and how it is being positioned. hopre getting a really big in asian stock and volatility. yes, russia beat saudi arabia, but i don't think there was any surprise. you can enter yours. i had russia. i had spain over portugal. spin -- spain, winning the whole thing. it will be interesting to see how far this goes. i finished it for him. injury thathoulder seems to be a factor in that game. a big run, portugal, versus spain. look at the unemployment rates, there are a number of other issues as well. >> i think there is a bit more return on investment with england. this is bloomberg. ♪ matt: welcome back. let's get your top headlines on the bloomberg. 30 minutes into the trading day. trump is set to approve $50 billion of tariffs on china. is a trade war now inevitable? government,man divid

looking at rolls-royce cutting 8% of its workforce, 4600 jobs by the end of the year.oking to save 400 million pounds by the end of 2020. radio whether on this will be enough to assuage investors because rolls-royce is facing pressure from activist investors and durability issues. investors seem to have taken this positively for the moment. the ceo has been on call with reporters saying the company is epic critical moment -- at a critical moment. adyen, europe's biggest yesterday, a 90% climb in t trading debut. up 3.8% on the second day. sky is up here. comcast made that billion dollars bid for 21st century fox's entertainment assets. and we have been watching disney being brought into sharp focus. ttyou for at. after rallying to a three-year crude oil -- saudi arabia and rsisignaledhey may raise output. president trump slammed opec on twitter for inflating prices. he tweeted -- joining us in london is our bloomberg managing editor for energy, and the global strategist at allion global investors. trumpdoes president understand what opec is and what it does? >> i think

rolls-royce has already said they are looking to shift their headquarters in victoria to central londonwhich will help them shed costs. but on a bigger scale, the bigger question, why now? i think the ceo, who came in about three years ago, has been quite frustrated by the lack of progress that rolls-royce has managed to achieve in terms of the turnaround. this is kind of a crucial next step in what they hope to achieve. >> hainan airlines plans to raise a billion dollars by selling shares to investors. this is part of a restructuring plan. they are offloading up to 20% of its listed shares to 10 investors. what is this money going toward? >> hainan has been in this really aggressive expansion mode, flying to nonstop destinations in the u.s. and europe. obviously, this money they will be raising from their shareholders will help them in buying planes, and probably addressing some of their pricing going forward. >> -- stock fraud. by his own account, muddy waters was involved in $20 billion in overseas stock exchanges. today he is back with another. >> so we are short tal education group

rolls-royce is cutting thousands of jobs, i believe. yuka: the british manufacturer says it plans to cut 4600 jobs over the next two years as part of its restructuring effort. the company with 55,000 employees worldwide wants to save 400 million pounds to keep making profit and bolster free cash flow. rolls-royce has been under pressure in its main engine business. technical problems with compressors used in boeing 700 87 green liners -- dreamliner's have led to cancellations. rolls-royce jumped after that announcement, rising more than 3% this thursday. the latest figures show it was up 3.77%, almost 4%. the overall market picture in europe is red across the board following the decision by the u.s. federal reserve to raise interest rates. all eyes are now on the european central bank, which is meeting today to discuss when and how to end its massive bond buying program. jamilr today, we asked why the interest rate hike could put pressure on global stock markets. : it is positive and negative. for global stock markets, it is seen as a n

rolls royce announces 4,600 job cuts.he boss has been talking to the bbc about the massive restructuring, hear his comments in a moment. the markets are not looking particularly good in europe. and we'll be hearing from the founder of a new ad—free social network hoping to take on the likes of facebook, the boss of mewe willjoin us. as a self—employed plumber in london

the british company is facing problems with reports of faults in its engines grounding flights rolls royce employs about fifty five thousand people around the world in which half of whom are based in the u.k. the cuts are part of a three year plan to simplify the business and save around four hundred fifty million euros a year. germany's association of women entrepreneurs or v.d.u. has been supporting female bosses and women in the business world for more than sixty years the group promotes female entrepreneurship and lobbies for better conditions for business women at the moment the v.d.u. represents about one thousand eight hundred mainly medium sized companies led by women in areas such as manufacturing and crafts trade and in the service sector together with their companies these women generate eighty five billion euros in sales and employ a lot of people about five hundred thousand video association members are in hamburg for their annual get together on the agenda expanding international opportunities and strengthening networks to raise the profile of female lead business w.'s busine

after rolls royce announces cuts to stay afloat that's coming up after a check of the wires well. the world with. the beyond. the beyond. the world with. the beyond. the beyond. the world with. the beyond. the beyond. the world with. the beyond the. cut. cut welcome back. as announced it will cut another four fouls and six hundred jobs mostly in the u.k. and its latest effort to save money the british in jamaica expects the cuts to free up more than five hundred million dollars a year by the end of two thousand and twenty it's a tricky time for war stories it's been having problems with the jet engine if it makes for a boeing seven eight seven dreamliner is a force plane to be grounded for inspections five thousand jobs were previously stache after a series of profit warnings in twenty fourteen. paul brennan has more from london. in some ways this is a natural progression from january's restructuring announcements in which the chief executive warren east said he was changing rolls royce from five distinct business units down to three and the job losses that he is expecting to make

and speaking of flights airplane engine maker rolls royce is cutting four thousand six hundred jobs as part of a restructuring program most of the losses will be in the united kingdom the british company is facing problems with reports of faults in its engines grounding flights rolls royce employs fifty five thousand people around the world you know only half of whom are based in the u.k. the cuts are part of a we year plan to simplify the business and save around four hundred fifty million euros a year. so that's all for this edition of business remember you can stay up to date with the latest business news just log on to our website at d w dot com soon the upcoming shows whatever you want to twitter and social media you next time if i. was. looking. woman. hadn't seen the cameras leave the freedom of speech in washington but there are many i'm crying tears of joy or at least the hours mind i'm human rights activists i believe days there are more than i do to receive training on one speech a morning that global media forum the d.w. honors the political scientists for his courageous cr

. >>> and rolls royce stocks surge as the company reaffirms its 2018 guidance. the trent 1,000 engine program forces costs up a day after the firm announces thousands of job cuts >>> good morning let's check how markets are doing. the theme for europe was that of the ecb meeting yesterday, draghi's somewhat dovish tone sending equity markets higher. overnight the main consideration has changed a bit. we're back to focusing again on trade tensions between the u.s. and china where the u.s. are expected to release their final list of import tariffs from chinese goods later today. the stoxx 600 is actually trading slightly weaker today to the tune of 0.1% let's get into the individual indices and see what the picture is like. we said yesterday was a good day for european equities, some of those gains are being paired back xetra dax, cac 40 barely in the green. xetra dax just barely above, and already down from an hour ago. ftse mib down 100 points already in trading again, giving some of those gains back as sentiment turns sour ftse 100 as well lagging a bit let's s

rolls—royce has a growing order book of over £170 billion. more staff directly employed on both the manufacture of components and assembly to meet that demand. pleased to hear him say that he recognizes the huge importance of a world class company like rolls— royce, especially as we approach leaving the european union and these are the kind ofjobs, this is the kind of industry we want for the future, because of its export potential, and because of its potential across the world. peers debated the plight of more than 600 people who have been left at sea on the rescue ship aquarius. they were stranded after italy and malta refused to let the ship dock. the un refugee agency and the european union have both called for a swift end to the standoff between the two countries, before spain's prime minister stepped in and agreed to take them. 0ne peer had a suggestion for the minister to alleviate the problem. might ijust press her to revisit suggestions made in your lordship‘s house about the creation, on the coast of north africa, of internationally

at rolls—royce.and message us on facebook and on twitter —— send us an e—mail, you can. we would to talk to you. arrests for terrorism related activity in the year until march 2018, a record 4111 arrests for terrorism related activity in the uk in the last year. according to home office stats just m, according to home office stats just in, 441 arrests for activities related to terrorism, that is a record. marcus rashford hasn't come out for training, the second day in a row he has missed full training. raises concerns he may not play in the first world cup match with tunisia on monday. fixtures released for the 2018-2019 on monday. fixtures released for the 2018—2019 premier league season. champions manchester city take on arsenal at the emirates stadium. england's cricketers took the first one—day international against australia in the oval in convincing fashion by three wickets with more than six overs to spare. david willey hit the winning runs. the opening round of the second golf major of the ye

the rolls-royce is said to be 4000 jobs as they try to simplify their business in boost profit marginsments would bring the total number of jobs to nearly 10,000 since 2015. >> we know that they will focus predominantly on hq. rolls-royce has already said they are looking to shift their headquarters in victoria to central london, which will help them shed costs. but on a bigger scale, the bigger question, why now? i think the ceo, who came in about three years ago, has been quite frustrated by the lack of progress that rolls-royce has managed to achieve in terms of the turnaround. this is kind of a crucial next step in what they hope to achieve. airlines plans to raise a billion dollars by selling shares to investors. they are offloading up to 20% of its listed shares to 10 investors. what is this money going toward? >> hainan has been in this aggressive expansion mode, flying to nonstop destinations. obviously, this money they will be racing from their shareholders will help them in buying planes, and probably addressing some of their pricing going forward. -- stock fraud. muddy water

looking at rolls-royce. let's start with dialogue.hat is this dynamic kicks deal -- dynamic text deal? >> so yes. if you remember, dialog has been in trouble. apple is a provider for chips for apple and apple has cut its order for chips. withpossible transaction symantec's will allow it to produce its reliance from apple and provide chips for other kinds of technology, for example touchscreens. and to other companies, other clients, for example samsung. definitely a rationale of the deal there are get these are talks for the time being, no guarantee a transaction will take place but obviously the shares will move and style shares will be called between 5-10% this morning. what is going on? why doesn't it want some sort of combination with aipac's? >> exactly. we've seen an increase in private equity transactions in the u.k. in particular, private equity firms have raised a lot of funds, very big funds, and they are struggling to deploy that capital and they are particularly eyeing those companies in the range of one billion pounds to

. >>> and rolls royce announces thousands of job cuts in a bid to boost cash reserves and simplify the business. >>> good morning welcome to "street signs." it is the launch of the world cup today, but we also have an important central bank meeting coming up in the ecb later very busy 24 hours as far as central banks have been concerned. let's look at how equities have reacted to that. to be honest the reaction in u.s. markets was muted the markets turned lower after that decision came out pointing to more hawkishness out of the fed. that transpired in asian equities trading overnight as well you can see the reaction in europe is also negative. stoxx 600 trading about a half percentage point lower in trading. let's look at individual indices and see what the picture is like a sea of red not one of the indices is trading up in the green. ftse 100, we get retail sales numbers in about a half hour's time lots of eyes on the consumer spending numbers given how weak they have been for the first couple months of the year. xetra dax and cac 40 trading weaker ecb is coming up we may get the fi

rolls-royce is expected to cut around 4000 jobs.iant'sdetails how the restructuring will work. 10% of the staff could go. rolls-royce is struggling under an estimated one billion pound bill to manage the problems. airlines are being forced to ground planes over concerns the engines could cut out in flight. shares in the world's biggest maker of electric vehicle batteries jumped on their trading debut as investors bet on rising demands for new energy cuts worldwide. rose by 44% in shenzhen, atuing the chinese company $12.2 billion. the manufacturer sold a 10% stake on may 30. that is your bloomberg business flash. anna. pres. trump: the year of strategic patience with the north korean regime has failed. they will be met with fire and fury. man is on a suicide mission for himself. i really believe that it makes sense for north korea to come to the table. we are going to make a great deal for the world, for north korea, for south korea, for japan, for china. anna: the stage is set. and president donald trump kim jong-un have landed in

rolls-royce has already said they are looking to shift their headquarters in victoria to central london on a bigger scale, the bigger question, why now? i think the ceo, who came in about three years ago, has been quite frustrated by the lack of progress that rolls-royce has managed to achieve in terms of the turnaround. this is kind of a crucial next step in what they hope to achieve. >> hainan airlines plans to raise about by selling shares to $1 billion investors as part of a restructuring plan. they are offloading up to 20% of its listed shares to 10 investors. what is this money going toward? >> hainan has been in this really aggressive expansion mode, flying to nonstop destinations in the u.s. and europe. obviously, this money they will be racing from their shareholders will help them in buying planes, and probably addressing some of their pricing going forward. >> muddy waters was involved in $20 billion in overseas stock exchanges. today he is back with another. >> so we are short tal education group, which is a china-based for-profit education company. the stock is up some 2500

shares of rolls-royce are soaring today.ine maker says the job cuts should help with by exceeded target dad -- 2020. rolls-royce expects it will be allowed to increase its dividends. swiss commodity trader will resume royalty payments. ties after heut was -- the company would not say if the u.s. treasury would say it would not pay sanctions. qualcomm has cleared the last of nxpfor its takeover semiconductors. chinese conductors have okayed the deal. it has been trending four months. qualcomm can means lessen its dependence on the slowing market for smartphones. that is your bloomberg business flash. tom: i want to bring everyone's attention to what is arguably the headline of the year in economics. yesterday with the release of to ecb announcement -- ecb keep rates unchanged until the summer of 2019. that is as it comes across the bloomberg terminal. ubs andis yianos of henrietta pacquement of wells fargo. with the otherg criminals on morningside heights, you never saw a headline with that. how can a central bank aggregate d

news from rolls—royce, another story aboutjob news from rolls—royce, another story about job losses.s said today that it is looking to have a more simplified staff structure. that will involve job cuts. that is what we are reading between the lines here. we heard the chief executive, warren east, say before that he thinks the business is bloated. he thinks the business is bloated. he thinks there is duplicated jobs, too many layers of management. we are expecting job cuts in areas like finance, hr, the administrative side of the business, the purchasing side, as well. not the engineering front line jobs. side, as well. not the engineering front linejobs. it is more thejobs in the administrative side of the business. we heard from him before aboutjob business. we heard from him before about job losses. he business. we heard from him before aboutjob losses. he has only been in thejob for three aboutjob losses. he has only been in the job for three years as chief executive but has already made his mark. we've already had job losses. we don't know exactly where they will be, but those 40

>> kroft: so did you ever figure out what happened to the rolls royce?fyffe: no. >> kroft: headline writers all over britain couldn't believe their luck. there was "scrambled eigg," "burnt rolls," and "eigg comes to the boil." it went on for a year, until schellenberg gave up, expressing his disdain for the islanders in this bbc interview. >> schellenberg: i think that my ultimate failure with eigg is that i can't be bothered to try and get on with them anymore. >> kroft: his final act was to sell the island to a wacky german, who called himself maruma and claimed to be an artist of note and a professor. he turned out to be neither. up to his beret in debt, maruma stopped paying people's wages, and within two years, creditors put eigg up for auction. maggie fyffe and others thought, why not buy the island for ourselves? >> fyffe: by the time we got to maruma, and two years of somebody that was living in stuttgart and had only visited for four days, it had convinced everybody that we wouldn't have to do very much to do better than what he'd done, which wa

this morning there was the story around rolls—royce and the amazon story as well.musing that well. that is one of the reasons why i find it so bemusing that the markets are so optimistic. we are coming intoa markets are so optimistic. we are coming into a period when market historically become very thin in the summer months. and there is that old saying of cell in may and go away. i am not suggesting that things will go bad but there is a reason people do that and it is because it is an u ntowa rd do that and it is because it is an untoward time for markets. thank you. we will be talking about airships later, and also that photo of the g7 summit. the photos! there are several versions and we will explain why they are being spread about by different people with different agendas. still to come: hotel hotspots. we meet the woman designing some of the world's top hotels. but how does she deliver them on time, on budget and still with the designer touch? you can see ben getting a tour there. we had a look round the hotel to find out what it is all about. david for that

jet engine maker rolls royce is cutting four thousand six hundred jobs as fond of a restructuring program most of the losses will be in the united kingdom the british company is facing problems with reports of faults in its engines grounding flights well as well as employees fifty five thousand people around the world nearly half of whom are based in the u.k. the cuts are part of a three year plan to simplify the business and save around four hundred fifty million euros a day a year. european union wants renewables like solar wind power to account for almost a third of the blocks energy production by twenty thirty the goal is fond of the e.u.'s efforts to meet its commitment to the paris climate agreement other measures include phasing out the use of palm oil and removing barriers faced by small producers of renewable energy signatories to the areas deal have pledged to take action to try and fight back against a rise in global temperatures. and that's it for me and the business team here and then my colleague copy i gave us with an update for you in the next hour of course the latest on

on the corporate side, rolls-royce engines -- rolls-royce holdings is rising today and they will cut600 jobs. the chief executives biggest step to overhaul the jet engine than half $1 more billion. he will spend 500 million pounds to implement the cutbacks which are equivalent to about 8% of the workforce. who will benefit from the world cup? pub companiesies, , the maker of replica kits, it could be fertile ground for bookmakers. , theyto shares of gve have had a turbulent time this year. if brazil wins, they might have a big payout and if england wins which will not happen, there could be a big payout as well so keep an eye on bookmakers. they could benefit from the world cup. 90 minutes into the u.s. session, how is it looking? julie: it's eight mixed picture with weakness in the financials and the industrials. it's holding back the s&p 500 as well as the dow. we had strong retail sales this morning doubling the estimate, of 1% which is the best performance in six-month and we are watching discretionary versus staples. the s&p consumer discretionary index keeps rising to record af

his family still owns farm land here it's a place where no rolls royce or mercedes will ever dare to venture for a and that's it for me and the business seeing him badly and how do i get us we'll have an update for you in the next hour thanks for watching barbara. greenburg international talk show and for journalists to discuss the topic of the week the malls most powerful leaders assemble in canada the g seven looks to be at risk of devolving into what she six plus one truck goes it alone to europe at a loss that's our topic ontogeny. news. story so that people of the world for you on facebook and twitter up to date and in touch follow us. to a how the germans came together in one nation from showing their money to. chancellor although from bismarck. the history of the germans has been shaped like great lawyers. ice will always to bring my royal college of that to protect christendom and spread fine truth if you please we love to focus. are we to fall back a bit to the enemy and talk to him and steer by courageous decisions lead to the town of those who chose your masters reserve re

village in the northern state of hari ana a his family still owns farmland here it's a place where no rolls royce or mercedes well ever dare to venture a out and that's the business update here and. more to come in the next as you give them the to move the to. the to . the to the to the to. the to. the to. euro. what unites. what defines. the moment trojan horse. what binds the continent to outright answers and stories of climate change. spotlight on people going to a few and. entered the conflict zone the fight against newsweek you mean some of the former israeli prime minister and who is a whole much she wanted an invasion of gaza in two thousand and eight what do you suppose about the recent violence along. the border under fast funny israeli prime minister who went to jail for corruption how is it that he has no regrets. with different languages we fight but. that's. giving freedom. global news that matters w made for mines. a school exercise book filled with stories of war atrocities written by brave people who want justice. and then she this picture was taken in banking in the us and it's i

jet engne maker rolls—royce is set to cut more than 4,000 jobs as part of efforts to cut costs and boostannounce job cuts and new targets for its civil aero—engine business when it updates investors on friday. a us labour watchdog has criticised amazon and one of its suppliers foxconn over working conditions at a plant that makes echo speakers and kindle e—readers. china labor watch‘s nine—month investigation of conditions at a factory in the city of hengyang, highlighted excessive hours, low wages and poor training. microsoft is beefing up its games offerings, buying several indie studios and given a glimpse of the next halo video game at the e3 gaming event in los angeles. but its having to work hard to stop the xbox falling behind leader sony's playstation. dave lee has been at the e3 gaming gathering in los angeles. you've been talking to microsoft? yes, i have. this is a huge week for gaming, if you're a gaming fan, this is the most important time of year because there will be hundreds of games on show this week that haven't been seen before and if you're one of the 70,000 people lu

jet engine maker rolls royce will announce later it's cutting over 4000 jobs — mostly in the uk — accordingucturing process aimed at boosting profitability. it's also battling costly technical problems with one of its key engines — the trent 1000 used in the boeing 787 dreamliner. car giant volkswagen has been fined 1 billion euros by german prosecutors over its diesel emissions scandal — one of the highest fines ever imposed on a company by german authorities. vw said it did not plan to appeal — and had admitted "its responsibility for the diesel crisis". it comes after a 11.3 billion dollar settelement with us authorities early last year. france's parliament has backed a bill to overhaul the country's heavily indebted state railway company, sncf. the vote is seen as a victory for president emmanuel macron and a blow to rail unions. they staged three months of rolling strikes over the bill, which scraps employee benefits such as early retirement and job for life guarantees. that's it for business briefing this hour. up next, newsbriefing. but first, the antarctic ice sheet has lost about t

which owns the mini and rolls royce brands could shut its factories in the u.k. according to london's f.t. newspaper last week announced it could ditch its u.k. operations of course it leaves the e.u. without a transitional deal facing thousands of jobs at risk will harley davidson plans to move some of its production house of the u.s. to avoid european union tariffs the motorcycle manufacturer says the terrace will add more than two thousand dollars to the price of its bikes in the e.u. is harley davidson second biggest market the company has factories in brazil india and thailand as well as the u.s. davidson she has dropped five percent when the u.s. stock market opened. well to tina now a labor unions are leading a national strike against the government of mockery that angry about his economic policies which have caused the local currency to drop in value and for inflation to hit thirty five percent to raise a bow has more from when is iran's. when a flight is completely paralyzed there's no buses subways trains or flights the city is completely empty as the l

more than 4,500 jobs to be cut at rolls royce in a major