but let's now talk about the royal bank of scotland. its stake in rbs but making a loss of £2 billion. joining us now is laith khalaf, senior analyst, at hargreaves la nsdown. what do you make of this? the government and others as taxpayers pretty significantly out of pocket? the reality is that is what the shares are worth on the market. the taxpayer is holding an acid above value which is selling for cash. i guess the thought in doing that is that the government does not think it isa that the government does not think it is a natural shareholder of bank shares, i think probably most governments would probably take the same view. also there is a cost to rolling that cash over in terms of government borrowing being racked up and on government borrowing you are paying interest. now that money which has been redeemed from the royal bank of scotland is able to go down and pay the national debt. i guess the question is what is the right time to sell rbs? unless you have a crystal ball you cannot save the sure that the price will be any high

royal bank of scotland is trading down, close to 280 yesterday.mentioning the fact that the government is crystallizing a loss with this latest state senate -- stake sale in rbs. wpp trading lower, i think it is a downgrade. stock is trading down by around 3%. carnival is down, orange is ex dividend this morning so don't read too much into that. some downgrades reporting post season, you see these notes coming out. interesting stuff at the bottom end of the market with m&a in the mix. let's get a first word update with jttsaly. u.s. campaign to economically isolate north korea will continue, even as preparations advance. president trump's summit with kim jong-un. the white house has set a time for trump's first meeting with kim, 9:00 a.m. singapore time on june 12, although the venue has not been revealed. sarah huckabee sanders has said there is no change in what trump has described as a maximum pressure campaign on the north korean regime. whip johne majority cornyn says e nafta talks have missed a key deadline and congress probably won't have t

in scotland 94% of businesses are micro businesses — those are companies with fewer than nine employees and a turnover of less than half a million. according to the royal bankomen before they turned 35. joining me now is paula ritchie from royal bank of scotland. thank you forjoining us. i want to start off that amazing figure. 94% of businesses, micro—businesses. how come? 0ver 94% of businesses, micro—businesses. how come? over 94% of micro—businesses in scotland made up this research that we have conducted. and it is fantastic to see such a contribution to the scottish economy. but what is driving this, do you think? it seems to me sometimes that, particularly with people of the younger generation, the idea of a job for life really is and what they're in too. they want to strike out on their rent. is that something that you have found ? it rent. is that something that you have found? it is certainly something that we find standard around each day but realistically what you just mentioned errors around for young people. they're looking for ambition and growth and is one biggest supporters of business in scotland we have recognised that we need to support

important because services make up 80% of the economy — it covers things like banking, leisure, retail and travel. a quick look at the markets... royal bank of scotlandices data piled extra pressure on the internationally—exposed index. shares in rbs fell after the government sold a 7.7% stake for £2.5 billion. asi as i mentioned, that good services data has however helped strengthen the pound, against the euro, but that makes life harder for the exporters on the ftse100 because they make their money abroad in dollars, and when converted a strong pound means they get less for their money. i said we would check in on the price of oil. there are days, brent crude down at $74 a barrel. that is all your business for now. thanks, ben. time for the weather with ben roach. hello, jane. thank you. things moving relatively slowly and sedately with our weather at the moment. nothing changing to dramatically but there are areas of cloud floating around so yesterday the isle of wight looked like that, and today it has clouded over. much greyer conditions in southern and south—western areas to take us through the rest of the afternoon. the satellite shows where w

the british government has announced plans to sell a 7.7% stake in royal bank of scotland. to raise $3.abn, and will reduce its holding in rbs to 62.a%. the bank has been majority owned by the government since it was bailed out for $60bn at the height of the financial crisis in november 2008. the man who built starbucks into the world's biggest coffee chain, howard schulz, is stepping down after nearly four decades at the company. let's go to our asia business hub where rico hizon has been following the story. this is a big loss for starbucks. what is mr schulz going to do next? starbucks is everywhere and is prevalent in asia. howard schultz is a loss for the company. he is exploring a number of options, writing a book, spending some of the family this summer. the most interesting option is running for public office. we could see howard schultz 2020. speculation has been swirling for some time now that he has presidential ambitions, frequently mentioned as a possible candidate for the democratic party. in an interview with the new york times he said he was concerned about t

britain's government has sold two point nine billion euros worth of its shares in the royal bank of scotland the british government sold the shares overnight around half of what he paid when bailing out the r.b.s. in two thousand and eight the government had decided to start selling off its stake three years ago the plan was only partially carried out because and then the snow share price the government is set to sell the rest of its sixty two percent stake in r.b.s. over the next few years. as your business update here on this hour because in the next we'll be back with the latest in the meantime of course you can check out our website or you can follow us on twitter for the very latest hopefully see you in an hour from now in the meantime we leave you with a look at some market action. true to the book. i'm. going to. talk to a man. on the bugle . call. or i'm. the sophisticated bank depositors of the horn tell last. of the fish that's good for surprises. all of us forces of my own a researcher investigates nature's own high tech to inspire his own pioneering work in medical technology. an

government is selling a 7.7% stake in royal bank of stock -- royal bank of scotland. e stake was worth about 2.6 billion pounds or 3.5 billion u.s. dollars. during the financial crisis, billions of pounds the bank. starbucks dipped on news that chairman howard schultz is stepping down. company from 11 outlets to more than 28 77 countries this comes as u.s. sales growth slows and in the wake of criticism -- and in the wake of criticism of the arrest of two black men and a good of you starbucks. there is speculation he may run for president. twitter and netflix are getting a leg up in the u.s. indexes. twitter will replace monsanto while netflix will replace another company. this comes as the takeover of monsanto is due to close on thursday. stocks mayout tech get louder but goldman sachs is still bullish. most of thet industry's current success can basis bank -- explained by strong fundamentals, revenues, and earnings rather than future speculation. are notd valuations very stretched and unexpected to change anytime soon. anna: thank you very much. let's stick with tech

. >> the 7.7 percent stake of the royal bank of scotland raise -- a must half-- was of what the government paid for the bank. rbs shares are down three and a half percent. it is a mixed picture on the european market. investors getting some what of a boost on strong economic data on china that suggested growth would remain strong despite tensions on trade. washington state has begun legal action against google and facebook for failing to keep track of who was placing political ads. -- tote law requires a al report who is reading -- is behind spending. they fail to meet these obligations since 2013. both companies say they are committed to transparency. >> apple meanwhile is saying its latest operating system will stop apps secretly tracking online activity. >> it will block sites from tracking users. the company says the upgrade will make it dramatically more difficult for data companies to identify the device that is being used and to track the user. the new operating system willll haveve tools that will allow parents to limit children's screen time. one company not having a good day on t

britain's government has sold two point nine billion euros worth of its shares in the royal bank of scotland the british government sold the shares overnight for around half of what it paid to when bailing out to r.b.s. in two thousand and eight the government had decided to start selling off its stakes three years ago but the plan was only partially carried out because of the lenders no share price the government is set to sell the rest of its sixty two percent stake in r.b.s. over the next few years. all right let's get some analysis here from out of the fun for the stock exchange but it looks like r.b.s. has proved a disappointing investment there for the british government was it west bailing it out. you can say disappointing again and yes it was worth building up costing the government about two point one billion pounds to sell at the share price they're getting now in comparison to what they paid in the year two thousand and eight but yes money well spent because if you remember back to two thousand and eight that was the financial crisis banks were collapsing without government suppor

britain's government has sold two point nine billion euros worth of its shares in the royal bank of scotland the british government sold the shares overnight and for around half of what he paid when bailing out r.b.s. in two thousand and eight the government had decided to start selling off its stake three years ago but the plan was only partially carried out because of the lend us no share price the government is set to sell the rest of its sixty two percent stake in r.b.s. over the next few years. the german chemicals group by is very close to finishing its takeover of u.s. seeds giant monsanto the sixty three billion dollars buyout is that to close a thursday by is ditching the name month sun too though it's been a target of protests and north suits for years but monsanto products will keep their names like round up which contains the controversial herbicide life state by insists that monsanto's crop protection technology and to genetically modified seats are vital to feeding a growing global population. let's catch up with our man in the frankfurt stock exchange in frankfurt were you the

the government is planning to sell more than £2.5 billion worth of its shares in the royal bank of scotland0% to just over 62%. the government's been the majority shareholder since the height of the financial crisis a decade ago. god's own country — that's how many refer to the yorkshire countryside. lancashire is known as the red rose county, kent is the garden of england. but which county in england has the strongest identity? and what about england's towns and cities — and the rivalries that go with them? for the first time, bbc news has attempted to map the local and regional loyalties in england. our home editor mark easton has been investigating why people love the places they do. beneath the veneer of national identity, england is a rich tapestry of ancient allegiances and rivalries. support your county! show your colours! in yorkshire, the medieval emblem of the white rose is still glorified as a symbol of county pride. as the tour de yorkshire cycle race speeds across the east riding, local schoolchildren are taught what it means to hail from yorkshire. there are lessons in welly w

the british government reduced its majority stake in royal bank of scotland. it sold 7.7% of rbs. u.k. has held the states and failing at the bank in the financial crisis. u.k. government still owns 62%. maker of semi conductors and smart death of smartphones it is a new chip for personal computers and offering free wireless plans for devices based on the chip. the chipmaker is trying to get its technology into the market which is dominated by intel. that's your bloomberg business flash. david: italy's new prime minister has given his first speech to parliament at set sold right will be the core of the new standard. he promising everything to everybody. what did you take awm this week? >> now you know why they call them populist. has been speaking for more than an hour there's plenty more for italian there. more economic growth, lower the debt, many things people will relate to and let's not forget he wants to cut the perks of italian politicians. david: the bonds are not responding positively. the market into spending too much money. how will they reconcile this? conte he did it

the government's decision to sell 7.7% of its stake in the mainly taxpayer—owned royal bank of scotlandrice is significantly lower than the amount the treasury paid for its stake a decade ago. the minister said the sale would raise £2.5 billion. the transaction represents value for money for the taxpayer. rbs is smaller, simpler and safer than the organisation and the government was forced to recapitalise in 2008 and its sale price reflects that reality. why sell now, crystallising a loss that rises to an excess of 3 billion when financing costs are included, when there is no pressure and when the government claims to be positive about both rbs and the community? mps debated how best to respond to a controversial decision by donald trump to impose import tariffs of 25% on steel and aluminium from the european union, canada and mexico. one mp wanted to hit the president where it hurt. he likes golf. let us have golf talus on golf owners in scotland. let us bring home and immediately and stand up for our steel community instead of this rubbish that we can do nothing about it. fight him. i

the government's decision to sell 7.7% of its stake in the mainly taxpayer—owned royal bank of scotlandriticism from opposition peers. the sale price is significantly lower than the amount the treasury paid for its stake a decade ago. the minister said the sale would raise £2.5 billion. the transaction represents value for money for the taxpayer. rbs is a smaller, simpler and safer organisation than the one the government was forced to recapitalize in 2008 and the sale price reflects that reality. why sell now? crystallising a loss that rises to in excess of three billion when financing costs are included? when there is no pressure and when the government claims to be positive about both rbs and the community? the bank which has been in the process... which we sold shares in yesterday, it's a very different organisation. its balance sheet is £1.75 trillion less. instead of operating in 38 countries, it's operating in nine. he must recognise surely that in fact the bank is being sold at a massive level below that which it had when it was bailed out in 2008. so, of course it's the taxpaye

royal bank of scotla nd bank of scotland. wner of a bank in the long—term. they don't want to be the owner of a bank in the long-term. laura, thank you very much. laura lambie at investec joining you very much. laura lambie at investecjoining us. hmm sizes are getting bigger after complaints —— h&m. a spokesperson for the chain said they are taking steps to change wo m e nswea r said they are taking steps to change womenswear measurements to be more in line with uk sizing. the fit of a size 12 would now be the measurements of a size ten. this was after complaints. for example one from a shopper rebecca parker who wrote an open letter saying that despite being a size 12—14 she was struggling to fit into their size 14 jeans because they were just too small. so they have been missed sizing? not missed sizing for the stores in sweden but the sizing there is clearly not in line with uk sizing so that's where you have this discrepancy. isn't the size the size? maybe you should go and be a co nsulta nt size? maybe you should go and b

royal bank of scotland. there is more suppg out there. we are off to .3% because the government is offloading its stakes. more to come. that will be capping the overall price point for rbs going forward. that is good news if want t be getti dividends if you hold rbs going forward. sky, not a massive moves, but we get the thumbs up that they are 20owed they are to see century fox buy sky if they offload the news part of the business. vying for that particular asset. it is the day to be looking at italy. check out what is happening in terms of italian that yield. we are seeing the premium taking a higher. we are not near the selloff we saw last week. that yield spread over the german bund is more than two percentage points. the concern about giuseppe conti, the newme minister behind the populist vote. you will see money go to the poor, cisco expansion to the tune of 120 billion eurosaccordi that will start to increase the pressure between the eu and those budget commitments. let's check out what is happening in terms of fx. i want to take a

bank and others who have paid billions of dollars to settle such charges. haidi: the buddhist government elling in 7 -- british government is selling a stake in the royal bank of scotland holdings in decade after the financial crisis. the stake was with about six -- aabout 2.6 billion pounds. the government injected billions theounds into the bank, biggest bailout in the world. ramy: and the purchase of get l extend a transition away from a strategy of developing software in secret. the ceo has been trying to convince them it is ready to embrace the open source coding that the former boss described as a cancer that went against the american way of doing business. >> you think about microsoft, we have always been a developer first company. and now we are all in on open source. with that really coming together, microsoft makes a lot of sense to us. haidi: that is it for "daybreak australia" this morning. ramy will stick around. here is a look at what is coming up next. >> looking at the central bank watch in asia, you are just talking about the rba. r will be interesting tomorrow as well, a lot of pressure from the bond market. and patel could be raising rates. we are he

an executive steps down at royal bank of scotland.s, more compelling evidence in an interesting week for markets. we have expert perspectives all straight ahead. >> we've seen this environment where there will be some geopolitical news and a spike in yields and yields will relax. scarlet: this is bloomberg. ♪ scarlet: this is "bloomberg best," i'm scarlet fu. let's revisit the week's most interesting interviews on bloomberg television, starting with tom mackenzie's exclusive conversation with james gorman at the china summit in beijing. >> we have extraordinary global synchronized growth, everywhere from japan through to the u.s. doing well, china doing well, southeast asia, across continental europe. global synchronized growth. we had these political eruptions, which is what it has disrupted, whether it is brexit, what's going on now in italy and spain with the coming elections, angela merkel trying to pull together a coalition. it is this almost competition between inexorable corporate growth earnings and economic strength against p

government has stake in the royal bank of scotland. it will be used to pay down national debt.injected more than $45 billion -- pounds into the rbs. starbucks dipped in late trading on news that the chairman is stepping down. he took the companies from 11 outlets to more than 28000 and -- 77ntries this in 77 countries. this comes as sales have slowed and the scandal including -- the scandal involving to blackman in philadelphia. twitter and netflix are getting the lead up in the indices. twitter will replace monsanto in the s&p 500 will netflix will replace agricultural company in the s&p 100. that comes as buyers takeover of monsanto is due to close on thursday. bubble warnings about tech stocks may be getting louder, but goldman sachs is still bullish. most of the industry's current success can be explained by strong fundamentals, revenue, and earnings, rather than just speculation about the future. he says valuations are not very stretched and it does not expect that to change anytime soon. and that is your bloomberg business flash. francine? francine: oil has halted its sli

joining me now is howard davies, chairman of the royal bank of scotland, he previously served as the ffa and director of the london school of economics. thank you so much, you always make us smarter on international things. what do you make of the week that was? the summit? world growth? it feels we are at a turning point and yet markets could be complacent? we have relatively little business in north korea. that one i can leave aside. the fed move has been interesting. particularly what the fed said about trade. that they had not seen an impact yet of the nervousness, which we all feel about the possibility of a trade war. yet, there is no sign of that appearing in the u.s. numbers, as they say, much more robust. even the news from china doesn't look particularly good, the chinese demand and output is falling. there is a bit of a puzzle. u.s. racing ahead, eurozone getting weaker, u.k. relatively weak, a terrible first quarter, we are desperately waiting for q2 figures, china weakening but the u.s. powering ahead. it is difficult. there is a bit of nervousness. francine: is that as g

. >>> meantime, the uk one step closer to returning the royal bank of scotland to full private ownershipmber, the uk government rescued rbs during the 2008 financial crisis today the british government sold 7.7% of its shares of the bank for about $3.5 billion and is expected to sell the rest of its stake in rbs over the next couple of years. >>> and finally, one of the hottest software stocks in the world posting some solid results. coupa software is a cloud play that share up about 1.4% right now, adding to its 80% gaiin the past year. all right, cool, new look there. all right, we are just getting started here on "worldwide exchange." >>> on deck, a big warning for you and your money from the world's biggest bond fund. why pimco says we could be in for a rude awakening and we are talksing tech, the record high.ng to yet another and your morning rbi brings you one stock that really takes the crown in a big way a lot more to do 'rba a watching "worldwide exan."wee ckfter this. ♪ here. we perform over 50,000 operations a year in places like this. for the past 15 years, our safety measure

the government is planning to sell more than £2.5 billion worth of its shares in the royal bank of scotlandinancial crisis a decade ago. jordan's prime minister hani mulki has resigned, after four nights of protests against austerity measures. the demonstrations are the biggest in recent years. protesters say a new tax bill backed by the international monetary fund will hurt the poor and middle class. king abdullah has the asked the education minister, omar al—razzaz, to form a new government. god's own country — that's how many refer to the yorkshire countryside. lancashire is known as the red rose county, kent is the garden of england. but which county in england has the strongest identity? and what about england's towns and cities — and the rivalries that go with them? for the first time, bbc news has attempted to map the local and regional loyalties in england. our home editor mark easton has been investigating why people love the places they do. beneath the veneer of national identity, england is a rich tapestry of ancient allegiances and rivalries. support your county! in yorkshire, t

the government has announced it will offload 7.7% of shares in royal bank of scotland. reduced from 70.1% to 62.4%. at least 38 people have died, including children, and hundreds have been injured, after one of latin america's most active volcanos erupted suddenly. at least one village near the fuego volcano has been buried in ash and lava, and the main airport in guatemala city, 25 miles away, has been closed. a state of emergency has been declared in much of the country, as richard lister reports. el fuego is one of latin america's most active volcanoes, but sunday's eruption was the deadliest in more than a century. ash billowed thousands of metres into the sky. the explosion forced rivers of lava and mud down to the communities below. those that could fled for their lives. emergency workers urged everyone in these villages to evacuate. these people are used to living in the shadow of el fuego, but this was a close call. many in this village were injured and had to be taken to hospital. but for some it was already too late, their homes smothered in a thick layer of mu

taxpayers — have suffered a loss of £2.1 billion after selling another tranche of shares in royal bank of scotland brink of collapse. taxpayers will still own 62.4% of the bank. petrol prices rose by 6p a litre last month, the biggest monthly rise since in 18 years. the rac says average petrol prices hit 129.4p a litre, while average diesel prices rose to 132.3p a litre. the rac said higher crude oil prices and a weaker pound were to blame for the increases. good morning to you. heathrow could be about to get much bigger and busier — if plans for a third runway are approved later. you'll know the plans have been beset by delays and controversy from campaigners, including many local residents who say the expansion will increase noise, congestion and pollution above legal limits. the government, though, backs the expansion despite that opposition — saying it would help ease congestion, improve transport links and create a major economic boost, and jobs. joining us now is matthew jaffa who manages the london branch of the federation of small businesses. good to see you. i touched on in there in the i

the british government is selling stake in the royal bank of scotland., the state was work 2.6 billion pounds. during the financial crisis, the government injected more than 45 billion down -- pounds into rbs. coinbase is expanding into japan, raising its profile in one of the world highest crypto markets. they arty operate in third a few -- 32 countries. -- they already operate in 32 countries. microsoft purchase will give it access to a community of 28 million programmers. they are ready to embrace the open source coding. microsoft,hink about we have always been a developer first company. that is how we got started. now we are in open source. with that, coming together in makes a lot of sense for us. ramy: up next, we head back to aviation and one of these airline biases -- bosses stands out. in a moment, we will talk about diversity and the glass ceiling in aviation. this is bloomberg. ♪ ramy: welcome back. this is "bloomberg daybreak: asia." look at thisa picture of airline leaders meeting in sydney this week. one person stands out. she is on the far

the government has said it will unload some of its stake in royal bank of scotland, it has sold 8%, raisingce in northern ireland. the move, backed by a cross—party group of mps, follows a referendum in the republic of ireland last month which voted to lift the ban. labour mp stella creasy told the commons it's wrong that northern ireland is out of step with the rest of the uk. no 10 says the issue should be dealt with by stormont once devolution is restored. this is an amazing story. the life of a woman with terminal breast cancer has been saved by a pioneering new therapy, according to researchers in america. judy perkins was given just three months to live but two years later there is no sign of the disease in her body. the treatment involved using her own tumour to grow 90 billion immune cells which were then pumped into her body. i had gone downhill quite a bit and i was i had gone downhill quite a bit and iwas ina i had gone downhill quite a bit and i was in a lot of pain and i was really, kind of, starting to get ready to throw in the towel and trying to figure out how i was going to

this announcement that the treasury plans to sell part of its stake in the royal bank of scotland latere division didn‘t get the requisite 75% approval from creditors, just short of that, something like 73% but it means the mothercare something like 73% but it means the motherca re stores something like 73% but it means the mothercare stores that come under the children‘s world part of the business, 22 stores, can be closed for the moment. the rest of it can go ahead. we can get more on this story from richard. let‘s kick off without one, mothercare. these company without one, mothercare. these com pa ny volu nta ry without one, mothercare. these company voluntary arrangement, we are seeing quite a few of them but this underlines they are not always as straightforward as the companies would like? indeed, we are seeing a lot of these at the moment and it is because the retail environment is quite tough, a lot of businesses are struggling with a lack of demand. they are struggling with large rent rolls, particularly as more people shop online and having a bricks and mortar store is diffic

sell three $.5 billion worth of royal bank of scotland shares. is about 7.7% of the stake it acquired after bailing out the edinburgh bank lender during the financial crisis. the investment is the first for rbs since 2015 and comes after the lender reached a $4.9 billion preliminary settlement with the u.s. over the seal of toxic mortgage bonds. the sale reduces the uk's stake to 62%. scientists shares are up after reports that its experimental therapy could advance ways to treat malignant and stubborn cancers. gilead's unit assigned -- signed .his gilead is a belt -- is building a pipeline of cancer drugs after years of success of treating hepatitis and hiv. is betting $2 billion on the pga tour, it is investing in a deal that includes tv and internet rights to the u.s. space men's golf circuit. discovery ceo says he wants to make the companylobal and live sports. tothe idea is we are going build -- we own together, as a partnership, globally, pga tour, and this whole golf ecosystem. the fact that it is through 2030, is a huge deal. we also see

monsanto which is being bought by germany's buyer also the uk is one step closer tong the royal bank of scotlandwnership. remember, it rescued the lender during the 2008 financial crisis today the british government sold 7.7% of its shares in the bank for about $3.3 billion. >>> when we come back, our guest host for the next two hours, ken langone. he has some thoughts on the trump economy. x.ren quk t he o"saw bo equity trades are just $4.95. so no matter what you trade, re you trade, you'll only pay $4.95. fidelity. open an account today. anyone can get you ready, holiday inn express gets you the readiest. because ready gives a pep talk. showtime! but the readiest gives a pep rally. i cleared my inbox! holiday inn express, be the readiest. holiday inn express, you should be looking for if you area mortgage.r a house, you could mortgage in the dark... or know the steps with better. you could mortgage like it is 1970... or do it now with better. you could hope you are getting the best price... or know you are, with better. you cyou could mortgage on ing the btheir time... or with be, on yours. y

came in better than expected, up more than a point to a reading of 54, even for the month of may royal bank scotlandadding to the ftse's weakness, uk government selling a 7.7% stake in the bank it bailed out a decade ago, losing more than 2 billion pounds on that scale new italian prime minister addressed his country's parliament, promising radical change, universal income for citizens and curbing imgration. debt reduction would be pursued through economic growth instead of austerity in response italian two-year yield rising in reaction to the comments from the prime minister 1% there you go back to you, jon. >> thank you, seema. seema mody. >>> shares of apple hitting rd high day as the company continues to flirt with a $1 trillion valuation top apple analyst steve milanovic is with us on that >>> and from san jose, californi california >>> shares of appl another all-time high, getting closer to that $1 trillion mark as ceo tim cook speaking after yesterday's wwdc note commenting on privacy and the consumer. >> i think the privacy thing has gotten totally out of control. and i think most people are