cfo of ryanair, nails or hand, and the ceo of phillips.ata, let's get straight to the markets and look at what's going on in this part of the world. hong kong and china markets are coming back after a torrid morning, education stocks really running to the downside after we had over the weekend this move by the chinese government to essentially ban for-profit education firms, sending many of these down 30% or more, band companies that teach school curriculums from making profits, raising capital, or going public. this is a broad set of reforms. it just is another blow here taking place with some of these educational shares, tech oriented companies. it's a sector which has grown to $100 billion. companies really trying to seek parents needs to give children every advantage. this is what's going on, and regulatory overhang, which is very much at the fourth in this part of the world, particularly because in china, we saw it with alibaba with financial, and a swath of other companies, as well. let's have a look at what we've got with you, manus

ryanair the latest. cfo is going to give us a birds eye view of europe's summer travel season come out the same time we just saw u.k. reporting over 20 for thousand more covid cases, the sixth consecutive day of declines. more on this next. this is bloomberg. ♪ alix: it is time for the bloomberg business flash, a look at some of the biggest business stories in the news right now. the covid-19 pandemic picking up steam across the globe. the number of infections increasing the most into months due to the delta variant. cases in the u.s. surged 62%, but fatalities have stayed relatively low due to high vaccine coverage, while deaths are soaring in india, brazil, and indonesia. there has been a sharp increase of cases in tokyo. meanwhile, olympic organizers reported 16 more cases, including three among athletes on the fourth day of the spectator free games. in the u.k., the number of new coronavirus cases dropping for the sixth day in a row, a potential boost to prime minister boris johnson following a chaot

ryanair -- it's report relatively positive.mmer yet to go so we will see how things look as we reach the autumn. anna: thank you, sam. as we head towards the open of the session, european equity market futures looked to be firmly in the red. mark: the chinese and hong kong stocks at the center of today's equity pain, they are off their lows but not much. a pretty soggy close. the commentary i am getting from a lot of chats is they think this will be relatively contained. the argument is the chinese crackdown has been with us for a long time. this is not new. there is an extra step but it is not likely to spread panic. but i think the pain affect will ripple through. i think the contagion will be slightly larger than people are thinking at the moment unless we get a powerful rebound in china tomorrow. what i don't see why we would. anna: thank you for spending the past hour with us. i will be back with the market open next. markets in the asia session dominated by the chinese clamped down education technology. it is weighing on

ryanair operates 37 countries across _ moment?for the last three _ august. when we look at the results for the last three months, _ august. when we look at the results for the last three months, revenue l for the last three months, revenue has nearly trebled and yet there was still a greater loss that was booked. why was that? why did costs go up? we booked. why was that? why did costs i o u . ? 2 , ., , booked. why was that? why did costs to u . ? 2 , 2, , go up? we saw the number of flights increased sevenfold _ go up? we saw the number of flights increased sevenfold during _ go up? we saw the number of flights increased sevenfold during the - increased sevenfold during the course of this quarter compared to the other quarter. there was a time when we were grounded, 8.1 million passengers. a relatively good performance, up 116% as opposed to a 700% increase in capacity. on the revenue side were typically east it would be a strong contributor towards revenue. easter was effectively cancelled this year. —— easter stock i ink it wo

ceo of ryanair.he next piece of news will be of significant interest to many of his countrymen. getting headlines coming through from the oecd. the oecd indicating the global tax overall that all of the g20 countries are now backing a global minimum corporate tax. that breaking in the last few minutes. the global tax overhaul is being endorsed by 130 nations. we understand the details, remember this is being done under the stewardship of the g20, which is under the stewardship of the italians at the moment, that the agreement will be finalized in october. we will get details there. the oecd timeline includes a plan for implementation in 2023. taylor: perhaps it will be a big win for janet yellen, the treasury secretary who has tried to spearhead some of these conversations. you'll have to correct me if i miss speaking. when this was announced, we had a lot of these conversations in early june. countries like ireland, which i'm taking a look at the oecd right now, they have a 12.5% corporate tax. i th

that is providing a boost to ryanair and the boost to the broader airline space. and also out performingthis morning. we're keeping a close eye on earnings in europe like you are in the u.s also the federal reserve meeting on the watch so far, we are seeing selling take place in the early hours of trade. frank. >> thank you >>> to the other top stories let's look ro robinhood is considering launching retirement accounts in the u.s. offering i.r.a.s would allow them to tap into the marketplace. robinhood wants to make first time investors in long-term investors. >>> softbank's didi losses according to the financiial times, it is now $4 billion in the red thanks to the ride hailing app w that stake is now worth under $8 billion. u.s. trading debut from a month ago. >>> investors betting big on the u.s. financial assets. more than $900 billion has been funneled from across the globe into u.s.-based mutual and exchange-traded funds in the first half of the year that is a record in data going back to 1992 and comes with the three major indices with gains of 15% or more

ryanair up by 2.7%, and i will be speaking with the ryanair ceo about eu covid passports.oming up. this is bloomberg. ♪ look...if your wireless carrier was a guy, you'd leave him tomorrow. not very flexible. not great at saving. you deserve better - xfinity mobile. now, they have unlimited for just $30 a month. $30 dollars. and they're number 1 in customer satisfaction. his number? delete it. deleting it. so break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile.com/mysavings or visit an xfinity store to learn how our switch squad makes it easy to switch and save hundreds. anna: welcome back to the european market open. we are just half an hour into our european equity trading session. european equity markets maintaining decent gains, rebounding from losses yesterday. the swedish bank leaving its key rate unchanged at 0%. action widely anticipated. i'm told by our friends there are questions about hinting at future plans to increase rates. we will watch out for that, comments coming through right now. the rate is expected to

the eu imposed sanctions on belarus after a ryanair flight belarus after a rya nair flight was belarused to land at minsk so authorities could arrest the dissidentjournalist. in retaliation the longtime belarus and leader alexander lukashenko said his bodyguards were no longer stop migrants from crossing into the eu. down at the border, its full emergency, with lithuanian government asking villages to make room for the new arrivals, and announcing the setting up of a second migrant camp. translation: hybrid war is waged against lithuania and we have to be united in focus, both on the municipal and national level in addressing these challenges.— national level in addressing these challenges. with belarus behavinu these challenges. with belarus behaving more _ these challenges. with belarus behaving more and _ these challenges. with belarus behaving more and more i behaving more and more unpredictably, people here are bracing for impact. a russian—based hacking group known as reevil has compromised the computer systems of at least 1,000 businesses worldwide by targeting an american it pr

but ryanair warned that it would still make a loss of more than £230 million for the first quarter ofnd close contact services such as hairdressers can reopen without needing to pre—book an appointment. the stormont assembly will meet later to decide whether other measures can be eased, including the re—opening of theatres and concert halls. labour has launched a new campaign for working people, in an attempt to win back some of their traditional supporters who switched to the conservatives in the last general election. deputy leader angela rayner set out the party's vision for a post—pandemic britain with what she called �*good quality jobs' and �*proper wages.�* the conservatives say that they have protected millions ofjobs through the furlough scheme, raised the national living wage, and reduced unemployment. singer and presenter ronan keating has accepted substantial damages from news group newspapers over phone—hacking of his voicemails. his legal team said stories which emerged in newspapers between 1996 and 2011 caused him "considerable distress," and led to him distrusting som

this is something that ryanair hasn't had to do. thank you, john, good to talk to you.will be the first passengers on the blue 0rigin new shepard spacecraft when it launches later today. there will be six passengers on this first space tourism flight. the flight will last 10 minutes, when the passengers will experience zero gravity before returning to earth. richard branson, the founder of virgin galactic became the first billionaire astronaut, flying to the edge of space onjuly11, but the new shepard flight will go 13 miles higher. in a moment we'll be looking at the growing market for trips into space. but let's kick off with the very first space tourist dennis tito — here's what he made of his trip on a russian rocket 20 years ago. the hardest part was the training. the space plan was easy. i was surprised. ifound out that they might be willing to, for a price, out that they might be willing to, fora price, by out that they might be willing to, for a price, by someone to the space station. i found myself sitting on top of the rocket. we had a few hours late. we were t

ryanair have reported slightly better results but also a much more positive tone. aha, better results upbeat, ves- they say _ positive tone. a lot more upbeat, yes- they say they _ positive tone. a lot more upbeat, yes. they say they will _ positive tone. a lot more upbeat, yes. they say they will make - positive tone. a lot more upbeat, yes. they say they will make a i yes. they say they will make a profit this year with 100 million passengers expected to board their planes, with 200 pilots being employed by the end of the year. they also said that ticket prices are not quite pre—pandemic levels, they are a bit low and they are not quite recuperating what they are spending. if you speak to people booking flights they do tend to say that flight prices have gone up a bit if they are booking a flight to europe so perhaps ryanair is slightly different to other carriers at the moment but a bit more upbeat than other airline sectors and other travel businesses at the moment. good to have you with us. thank you for that update. some news just into us now and a some newsjust into us now and

the horse was owned by ryanair boss michael o'leary's stud farm.nership with gordon elliott has been one of the most successful in racing history, culminating in michael o'leary's dream of winning the grand national. i went into my first bookie shop and put a bet on the grand national without my mother knowing. and now, to win it is a dream come true. one of the biggest names injump racing, michael o'leary is now winding down his racing empire. his horses are looked after by a variety of trainers. since 2015, of the 500 horses owned by his stud 86 have died — that's more than one in six. is that a death rate that's inevitable forjump horses with tough racing careers? dr hannah donovan is a veterinary expert. no. where we have the veterinary care we have and the developments we have to be able to look after horses in the high standard that we have in britain and ireland, then no, you wouldn't expect that. michael 0'leary says the horses that died suffered serious or life—threatening injuries either in training or on the racecourse, so rehab was not

. >>> the cfo from ryanair on the return of global air travel.e industry is facing stay tuned you are watching "squawk box" on cnbc you have the best pizza in town and the worst wait times. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire >>> ryanair reporting quarterly numbers this morning the company posting a smaller than expected loss and upgrading the full-year forecast the company saying that fares remain below pre-pandemic levels joining us now is the ryanair cfo. good to see you, neal. it is still tough. i understand that looking at the numbers. we see things which may have doubled from the previous quarter, but down a third from p pre-pandemic levels. it is still a tough operating environment. can you describe the progress you are trying to make here? >> good to see you as you said, first quarter numbers out this morning traffic rebounded this morning traffic increased from 500,000 from the first quarter when we were grounded to

ryanair, easyjet and jet2 have said that despite today's announcement, all passengers will still be requiredect the health of passengers and crew, and will be mandatory regardless of where the flight is to and from. they will continue to be guided by in—house medical advisers and industry regulators. germany has lifted its ban on travellers from the uk entering the country. from wednesday, people who've had both vaccine doses won't have to quarantine. the changes also apply to people travelling from portugal, russia and india. the end of social distancing in england's pubs and restaurants means a return to drinking at the bar without the requirement for table service. nightclubs will also reopen. the hospitality industry has been hit hard by the pandemic and has welcomed today's announcement, though some staff are worried about working in a crowded environment without face masks. 0ur north of england correspondent danny savage reports. another busy lunchtime at the bull inn in north yorkshire. staff are wearing facemasks, customers have to register, it is table service only and all at a safe

ryanair, for instance, flies boeing. to shift to airbus would be a huge undertaking.ys this idea that was companies are involved in big ids, but nevertheless, the reality of it is a little bit more complicated. not come located, depending on your point -- or not complicated, depending on your point of view. take a look at the air france klm share price. we will talk about what is happening with christine lagarde. she gave an incredibly important interview to bloomberg over the weekend. jeremy stretch is joining us next to talk about it. this is bloomberg. ♪ >> the countdown is on in europe. this is "bloomberg markets: european close," with guy johnson and alix steel. ♪ guy: monday the 12th of july. 30 minutes to the close. what do you need to know out of europe this hour? christine lagarde tells europe that investors should prepare for new guidance from the ecb at its next meeting in 10 days. we are going to hear from madame lagarde in just a moment. boris johnson will confirm at five and lock p.m. tonight in london that most of the remaining -- at 5:00 p.m. tonight i

ryanair talking about a positive story for the rest of the summer but it still feels like we're goingignificantly below pre-pandemic despite the fact this week we have had the launch of the euro covid certificates. infineon is interesting, one of the world's biggest chip manufacturers and again talking about delays again, and it is one of the biggest providers for the auto sector. this week we have had others coming out saying the issue they have with chips is still ongoing. today , and porcelain,infineon reinforcing that. kailey: bnp paribas announcing it will allow some workers to work from home part-time. allowing more flexible work arrangements on a permanent basis. your to talk more about the trend is lorenzo bini smagh. he joins us from the economic conference. thank you so much for being here. stockton is that bankers can work from home up to three days a week. is that essentially a talent retention decision? lorenzo: it is between two and three days a week. it is up to the business to decide. it is a strategy to try to attract talent and young people are liking that. up to now

europe caught up today, and we are really feeling that within the cyclicals, things like airlines, ryanairel and leisure, all of the cyclical reopening trades getting hit. we will break that down. this is bloomberg. ♪ and there you have it - wireless on the fastest, most reliable network. wow! big deal! we get unlimited for just $30 bucks. i get that too and mine has 5g included. impressive. impressive is saving four hundred bucks a year. four bucks? that's tough to beat. relax people, my wireless is crushing it. okay, that's because you all have xfinity mobile. it's wireless so good, it keeps one upping itself. (announcer) if you've struggled to lose weight, you might think you were born with a slow metabolism, but what you may have is insulin resistance. fat becomes trapped inside your body and it becomes very difficult to lose weight. now there's golo. golo works to reverse the effects of insulin resistance, increase metabolic efficiency, and targets stubborn belly fat. join over two million people who have found a smarter way to lose weight and get healthier. go to golo.com and change

jonathan: the ryanair cfo. that stuck up by more than 4% in european trading.ity this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. counting you down to the opening bell, we shape up as follows. one hour and about 42 minutes out, equity futures down seven. we are down 1.6% on the s&p 500. yields off the lows of the morning as well, still down by three basis points on tens, 1.2455%. positive 0.2% on that currency pair. tom: i'm going to call that a gloomy range. right now it is certain that there will be a question on a conference call and mr. cook will answer it. a simple question about apple in china, and for chinese stocks, dave wilson, it is not going well. dave: absolutely not. if you really want to see how badly it is going, just look at these online tutoring companies. tom: that all use apple computers. dave: they might well. consider that those stocks come of american depository receipts on friday considering government action against the industry. they basically said these companies can't be profitable. they have to

analyst citing ryanair also being exposed to those rules.s in south africa continue for a fourth day. the former president scaling on contempt of court charges. we are joined from johannesburg. explain to us the trigger. yes the jailing of zumba was one. there are so many other factors that led to this point. describe what it is like on the ground. >> thanks for having me. as we mentioned there are a number of challenges ongoing. i think covid-19 exacerbated that situation. unemployment has arisen in a massive way. over the past few weeks we have had more lockdown restrictions, restaurants have been closed, alcohol has been banned. the matter of inequality and people needing access to food, the rest of the former president was the catalyst. it was just a matter of time before things got to the point where people had to take to the street. guy: let's talk about that food on the table. i've seen pictures of supermarkets being looted. we have the countries biggest refiner being shut down. will we see shortages as a result of what will happen? >

ryanair's tipping point. the low-cost giant could break higher. guy johnson -- dani burger in for guy johnson. dani: i've been saying this all day, that it is able market that

investors to block plans to pay its founder $137 million if he can turn the discount carrier into another ryanairzz is already to biggest discounter in europe, but hoping to grab a bigger piece of the continent's leisure travel market. credit suisse is taking steps to avert more scandals after going through two expensive ones this year. the swiss bank has hired someone from goldman sachs to be chief risk officer. he has been deputy chief officer at goldman. that is the bloomberg business flash. fascinating that they are hiring from goldman, considering goldman was one of the few big brokers to emerge unscathed from the archegos collapse. alix: they had smaller exposure and the get out of the position. they were able to do a lot faster, so that is definitely interesting. you have credit suisse reporting thursday, right? dani: exactly. it will be interesting to see how that features in their earnings, and how the scandals feature. if anything, it might show up in terms of costs. it costs money to bring people on board, and they've had a lot of losses, so they need to attract more people and talent

. _ ryanair and easyjet have said that despite today's announcement, all passengers will still be required mandatory regardless of the where the is to and from. they will continue to be guided by in—house medical advisers. as you've already heard, the end of social distancing in pubs and restaurants in england — along with needing to use a qr code to check—in — means a return to drinking at the bar without the requirement for table service. the hospitality industry has been hit hard by the pandemic and has welcomed today's announcement — though some staff are worried about working in a crowded environment without facemasks. our north of england correspondent danny savage reports. another busy lunchtime at the bull inn in north yorkshire. staff are wearing facemasks, customers have to register, it is table service only, and all at a safe social distance. but in two weeks' time, all those restrictions go. a bit scared, really. commercially fantastic, let's just go back to normal. gill runs the pub, but does she trust the public to act responsibly? there is a big section of the community, par

from analysts at bernstein, joseph, who said that wizz air is the only conceivable challenger to ryanairg of the european low-cost aviation companies. how do you plan to steal that crowd? jozsef: i don't think we are competing with any other carriers. [indiscernible] going forward. anna: thank you very much. jozsef varadi, the wizz air ceo. i apologize for the quality of the sound of the conversation. a little bit echoy. the top stories we are covering this morning at bloomberg, here is laura. laura: former president donald trump is suing twitter, facebook, and alphabet. trump says the lawsuits are a defense of his first amendment rights and seeks to restore his social media accounts along with punitive damages. all three companies either banned or suspended trump accounts following the riots at the u.s. capitol. britain's national security advisor is set to investigate the takeover of the country's biggest semi conductor plant by a own company. -- by a chinese owned company. lawmakers say the deal could pose a security threat. fintech company y climbed 10% in its daily listing on the lo

ryanair said today they will keep the mandate in place on masks.ome businesses will follow suit which really begs the question, who has the duty of care? that becomes very _ who has the duty of care? that becomes very important. - who has the duty of care? twat becomes very important. if it shifted, in many ways by the government making this decision, their shifting responsibility to individuals, they are shifting the responsibility to the person in the restaurant, the 19—year—old for example that has only had opportunity to be vaccinated once. the person working in retail behind the cash register, and also for businesses, so some of those youths may say, i am not going to get my second job until september so don't you have a duty of care to protect me? at the same time they will have customers saying, this is my personal choice. there is a mixed message about face coverings and also about covid—19 certification. they say they definitely won't bring it in but if businesses want to introduce them, they will be allowed to do that so that will create

several uk airlines, including ryanair, easyjet and jet2 have said that despite today's announcement, from. they will continue to be guided by in—house medical advisers and industry regulators. as you've already heard, the end of social distancing in pubs and restaurants in england, along with needing to use a qr code to check in, means a return to drinking at the bar without the requirement for table service. the hospitality industry has been hit hard by the pandemic and has welcomed today's announcement, though some staff are worried about working in a crowded environment without face masks. our north of england correspondent danny savage reports. another busy lunchtime at the bull inn in north yorkshire. staff are wearing facemasks, customers have to register, it is table service only, and all at a safe social distance. but in two weeks' time, all those restrictions go. a bit scared, really. commercially fantastic, let's just go back to normal. gill runs the pub, but does she trust the public to act responsibly? there is a big section of the community, particularly when they get a

but ryanair warned that it would still make a loss of more than £230 million for the first quarter ofation to the news of the world, which closed in 2011. the government says it's spending £48 million to try to improve adoption services in england. the aim is to provide better support to families who adopt, no matter where they are in the country. adoption support groups have welcomed the plan. vintage, pre—loved, or second—hand — whatever you call them, clothes that have had a previous owner are all the rage, largely due to concerns about sustainability. now, in what's thought to be a first in the uk, a permanent fashion "swap shop" for adults has opened in london. "swappers" pay a membership fee to visit the store, and to exchange items they no longer want. jonelle awomoyi has more. i'd spend about £300 a month on clothing. one day i had a girls' night at my house, and the girls came around and we were like, let's go out instead of stay in. everybody started moving things around my wardrobe, and i saw them all pulling things and swapping amongst themselves. i saw this happen and jus

by the way, hunter kay's top picks are ryanair and sun country., the quarterly stock report results are in. we're getting the traders to weigh in on the biggest questions. that's next. shares of wall ggreens in the r today. "fast money" is back in two. uno, dos, tres, cuatro! [sfx]: typing [music starts] [sfx]: happy screaming [music ends] >>> welcome back to "fast money. cnbc is out with its exclusive quarterly stock report today we polled market participants. we start off with what is your favorite inflation trade what is your favorite inflation trade? i feel like they should play "jeopardy" music what is your favorite inflation trade. mike, what would your favorite inflation trade be >> we weretalking about some o it, some of it already played out. the commodity names have done so well i like the oil services sector that's a place i have been playing and i would continue to. >> oil, 58% said it is their favorite inflation trade followed by consumer staples that's interesting 15%. bitcoin, actually. bitcoin. would you agree with that? >> the bit

briefly on the issue of reassurance, testing, wearing masks, we saw ryanair and easyjet saying they willing number of cases? we are told is going to be a rising number of cases?— are told is going to be a rising number of cases? we are very supportive _ number of cases? we are very supportive of _ number of cases? we are very supportive of the _ number of cases? we are very supportive of the safe - number of cases? we are very supportive of the safe return i number of cases? we are very| supportive of the safe return to travel, we do not want to do anything that will impact public health. we are reassuring people that when you are in your destination, follow the local protocols, the airlines are wearing masks, as you have heard, the airports arejoining masks, as you have heard, the airports are joining together with virgin and british airways to speed up virgin and british airways to speed up the process and ensure that the airports did not have massive queues where social distancing is not achievable to try and protect consumers while they move through the airports. there is a lot of ta