the deal would give rosneft access to the world's fastest growing consumer of fuel — india.ions in india. sameer hashmi is in mumbai, he's been following the story for us. tauqir us through this deal? potentially brings together a huge market for consumers and one of the world's biggest oil providers. it seems like a win, win. that is how both sides have been selling the deal. there were various issues. as far as the russians are concerned, this deal gives them access to one of the largest fuel consumer market in the world. india, as you know, consumes a lot of oil. the demand has been increasing. it relies a lot on imports. what is going to happen with this deal is they will get access to this market. esser already has a huge refinery where it produces 400,000 barrels of oil a day. 3000 retail units is something they will get with this deal. for esser this deal is also important because it is a huge conglomerate in india with huge debts. so by selling this company there will be able to write off this debt. that is one of the reasons why this deal got delayed. a lot of lende

the ceo of rosneft is telling reporters those sanctions will backfire.hey are backfiring already in some senses. europe has may be some issues with the energy site of that, which is an interesting rosneft story. rosneft says it will boost its energy cooperation with venezuela. a couple of u.s. foes working more closely together. maybe not exactly what the u.s. congress to get out of this. right now, i'm getting get the bloomberg first word news with sebastian salek. >> donald trump maybe on the verge of roughing up -- the administration is gearing up to investigate china over what it perceives to be violations of intellectual property. be troubling consequences for the global economy. qatar has approved a draft law that would grant permanent residency to some foreigners. those eligible include children of qatari women married to foreigners, those with special talents needed by the state, and others who have extended notable services to the country. this comes at the country faces a boycott. to fix goldman sachs's fixed income business and he is not panic

and venezuela as a whole russia's rosneft says it expects full repayment in oil and oil products liveris before the end of twenty nineteen it also said bennis whale is making those deliveries right on schedule what could hurt in the long run though is that announce right now it has no new plan to advance payments to to venezuela the country's at risk of default fitch ratings lowered various well as credit rating to a triple c. meaning potential failure to service its debts. americans are spending the most they ever have since the two thousand and eight financial crash that should mean good things for the economy let's take a look. americans on average are spending one hundred nine dollars a day according to gallup polling that's the highest spending average in nine years and the sixth straight month where daily spending is more than one hundred dollars meanwhile small business owners optimism is at a ten year high they're generally more optimistic about the future than present conditions these phrases coincide with americans confidence in the economy which jumped four points in july on g

a consortium led by russian oil giant rosneft is expected to announce a $13 billion deal to buy the indianefiner essar oil. the deal will strengthen ties between the world's biggest oil producer and the world's fastest growing fuel consumer. essar oil has 3,000 petrol stations in india. the median pay packet for ftse100 chief executives here in the uk has fallen by almost 20% over the past year. deloitte says the figure dropped to $4.5 million from $5.5 million. the accountancy firm says it appears that policies which were introduced to limit bosses' pay appear to be working. limited access to the freeport mcmoran copper mine in indonesia is expected resume today after hundreds of former workers clashed with police. the us mining giant has been dealing with a labour dispute since may when roughly 5,000 workers walked off the job to protest mass layoffs. shares in the shanghai—listed unit of telecoms group china unicom have soared after it announced plans to raise more than $11 billion from a dozen major investors including alibaba and baidu. rico hizon is in singapore. tell us more about t

measures were starting to backfire on those introducing them and will impact rosneft's american partners >>> the business school at the university of oxford is launching its first major online course the subject is fintech the university says the rise of artificial intelligence has created the need for executives to get help with the rapidly changing environment the technology behind the program is being delivered by u.s. firm get smarter. we are joined by the dean of the business school from the university of oxford peter, great to have you on the show i wonder whether this was implemented because there's so much demand from students or did companies come to you and say we need more expertise in that field? >> it's a combination of both of those things plus our assessment that the time was right to do this sort of thing the world has changed considerably and we have to keep up with that help companies get in front of it >> it's a rapidly changing environment, you're right. i also wonder whether a course which is determined in advance, if that can keep up with the environment changes. ca

there are the rosneft headlines. the major out there is a trend in the that moreng to see clearly if i go to index points. there is bp, they are trading up this morning. thisyesterday, continuing morning. i would say the bank is under a little bit of pressure. down -- b.n.p.s paribas is down. bouncing back, rbs by 3% on the back of what it said this morning. b.a.t. up a little bit. allianz up as well, we will talk to them later in the program. we are looking forward to that conversation. european stocks a little on the back. stocks falling after news broke is using a federal grand jury in washington to collect information as he probes russian meddling with possible collusion with the trump campaign. night thislly last is in west virginia, the president lashed out against the investigation. president trump: the russia story is a total fabrication. for thest an excuse greatest loss in the history of american politics. that is all that is. guy: joining us now, the global head of strategy at morgan stanley also joining u

however, slowly but surely as venezueezuela struggled, they'v begun giving rosneft ownership stakesralized 49.9% of venezuela's refineries in the u.s. meaning if they default, a russian-owned company could lay claim to u.s.-based refining assets pretty amazing >> keeps getting worse the more you learn about it, michelle thank you. michelle caruso-cabrera. >>> one week from today, millions of eyes will be looking up at the sky and the sun. the countdown to eclipse mania is well under way. if you haven't made your plans already, forget it if you haven't gotten on the amtrak train already, you're not going to be able to rent a car we'll tell you after this. so who sent you? new guy. what new guy? watson. my analysis of sensor and maintenance data indicates elevator 3 will malfunction in 2 days. there you go. you still need a pass. >>> welcome back maybe you've heard nothing about it or maybe you think you've heard everything about next week's eclipse jane wells has news for you, right, jane? >> reporter: oh, gosh, kelly, turns out all 50 states even alaska and hawaii are going to have

another store we are —— another story we're looking at is the story of rosneft.s expected to announce a $13 billion deal to buy the indian private refiner essar 0il. the deal will strengthen ties between the world's biggest oil producer and the world's fastest growing fuel consumer. essar 0il operates a 400,000 barrel—per—day oil refinery on india's west coast and sells fuels through its 3,000 retail stations in india. we will have all of that coming up for you in world business report. you can reach me for you in world business report. you can reach me on for you in world business report. you can reach me on twitter in the meantime, but now, back you, chris. cheers, we will see later. let's brings you the latest on those floods, now. —— let's bring you the latest on those floods, now. bangladesh is grappling with the worst flooding for thirty years as this year's monsoon rains take a huge toll on parts of south asia. the floods are now known to have claimed more than 700 lives and driven more than a million people from their homes. 0ur correspondent sanjoy majum

have allegations he took a two million dollar bribe from the oil joint rosneft whose first time in decades a sitting. member of the russian cabinet was arrested he heroin has the story. visibly thinner. alexei in the k. f. speaks defiantly to journalists as he meets the courthouse. thanks to our justice system i've lost fourteen. says former economy minister has been under house arrest since late last year cuts off from the outside world. he was allegedly caught red handed it's taking a two million dollar kick back to green night the sale of a stake in oil found bash nex. to state giant rocks next. the sixty one year old has pleaded not guilty to the charge. visigoths arrest last november sent shockwaves as it was the first time in martin russia that a sixty minutes there was detained and charged with a criminal offense. an economic liberal in the kf was against increasing state control of the econom. and had initially opposed roughnecks acquisition of a stake in fashion aft. but he endorsed it after president vladimir putin recommended it. russ left is headed by preteens close ally ego se

but surely, they have been giving rosneft ownership stakes in the oilfields instead and now they haveompany lat ri collateralized, meaning if they default, a russian government owned company could lay claim to u.s. based refining assets for more on how bad these numbers are, let's bring in managing partner at caracas capital markets. good to have you here. >> thank you for having me >> you wrote a note to clients over the weekend that the numbers were from the land evof narnia what do you mean >> they were difficult to believe and even more difficult to swallow i've never seen an auditor and n. all my years of 35 years of reading financial notes put 7 pages of caveats it almost reads like a he said/she said kind of 7 page introductions. >> are they things that are false? and if yes, give me an example >> yes is the short answer and everyone the auditor in several of their statements say that they couldn't justify this or they didn't necessarily agree with their quotes for asset deterioration. and they even said as bad as these numbers are, they may be worse because there are fraud inv

rosneft was that affected. be of a one for the market to keep an eye on.s are dealing with is trying to divide the rhetoric of donald trump and see it -- if it is rhetoric and how it translates into futures. london said to open down by .8 of 1%. all this talk of $450 billion worth of tax cuts imbuing a market rally. the u.s. might terminate nafta. and threatening a government shutdown if he does not get the money to build his what with mexico. those are the disruptive forces we have to contend with. anna: president trump pushing some of those buttons as we did last hour in terms of the themes the markets have been nervous around and the theme of media and the way the media represents him and defending his handling protest.arlottesville let's put up the risk radar and show you where we are expected to go in the u.s. features, the futures suggest we will be down and that is in keeping with what you are saying with everything we heard from president trump, the end of nafta and the shutdown, all that back in the mix and the peso falling by .4 of a percent. giv

programme, the world‘s biggest oil producer gets cosy with it‘s fastest growing consumer, as russia‘s rosneft