jason vadim zlotnikov and schenker will be staying with us.osen joins us to discuss inflation expectations and the fed. live from london and new york, this is bloomberg. ♪ caroline: this is -- emma: this is "bloomberg daybreak." coming up on wednesday, an interview with -- this is bloomberg. ♪ now, to your bloomberg business flash. spending on the new model three electric car, sales will bolster the balance sheet. account $1.2 billion in cash. warren buffett is closing in on a milestone that he probably is not happy about. berkshire hathaway had almost $100 billion in cash at the end of the second quarter. pay its dividends and rarely buys back stocks so they have to find a way to spend that money. and alibaba and marriott are teaming up. the companies will join ventures. marriott has 6000 hotels including the sheraton and ritz carlton chains. that is your bloomberg business flash. caroline? caroline: is the race for the brexit bank jobs -- paris will beat frankfurt to become the european union pus main financial center after britain leaves, e

schenker, our bloomberg senior executive editor for international government. thank you. another rocky week for uber, after benchmark capital doubled down on its lawsuit against travis kalanick in an employees. to in the u.k., uber is being accused of failing to properly report sexual assault by its drivers, according to several reports. uber responded to the reports saying that this is an incredibly complex issue and they always strive to get the right balance between supporting the police while supporting the rights of individuals. joining me is caroline hyde in london, and with me in san francisco is keith rabois at khosla ventures. i will talk to you, caroline. talk about this situation with bloomberg when it comes to the sexual assaults that were failed to be reported. caroline: this is a rather explosive report that came out, reported by the sunday times. there was a copy of a letter sent by the senior member of the metropolitan police alleging to the transport from under authority -- for london authority that uber is failing to report sex attacks and other crimes.

marty schenker, our executive -- senior executive editor that editor on international foreign governments- editor on international foreign governments. stock at a all-time high and president trump was quick to comment on it. is not market hit a all-time record high, over 22,000. we picked up substantially, more than $4 trillion in net worth, in terms of our country stocks, our companies. , a gdp a growth rate which has been much higher than anybody anticipated except us. it is going to go higher. we are doing a job. david: the president reacting to dow 22,000. julie hyman is here. julie: the dow hit a new record, but the stock market so to speak did not, at least not if you look at broader measures and more accurate measures of the stock market. the dow is seen by some as flawed. is it -- it is a price weighted average and viewed as a proxy for the old economy although it does include stocks like apple. the s&p and the nasdaq are not rising. they are near records, but they have not obtained records. the dow now at a record for the 31st time this year. the s&p and nasdaq frequently accompa

joining us is marty schenker, the senior executive editor for international government.been covering washington for two decades. what was so extraordinary about this press conference? marty: simply the very vigorous embattled nature of the , questions and answers. donald trump had given a scripted defense and clear condemnation of the right in the charlottesville demonstration of violence. then he comes out today and goes right back to where he was on saturday, basically showing that -- saying that the right and the left are both to be condemned for what happened. it was an extraordinary performance and something even those of us who have gotten used to donald trump over the last seven months were really unprepared for. we are all working back here in the newsroom trying to figure out what the significance of this will be. there will be significance. emily: let's take a listen to one of the more explosive moments in this press conference. take a listen to president trump. pres. trump: there's blame on both sides. you look at both sides, i think there's blame on both side

marty schenker and mr. valliere and there is mr. >> thank you all for your service. guy: theresa may has journeyed .own delivering the speech britain's and the queen elizabeth. that will be a second aircraft carrier called the prince of wells. she makes the speech on of the deck of a symbol of how the u.k. is hoping to project power around the world and the symbolism of the fact it is not a nation in retreat but on the front foot is what i expect the team is hoping for. tom: it is an extraordinary carrier. i find it interesting that the queen when she christened it did not use champagne. she used a bottle of whiskey to blessed the boat. that is an important distinction as well. from the packaging of queen elizabeth that's pageantry -- packaging to queen elizabeth to peter kinsella and charles dumas . charles dumas, as we look at those world of events, what will you write about, what will be your research note? charles dumas: i am mostly sold on germany growing at a sustained rapid rate. and also, changing in a very important away th

[laughter] scarlet: david schick --jason schenker, thank you so much. check on the headlines with mark. president trump, as you mentioned earlier, is in texas. to see the devastation of harvey. harvey man -- made landfall on friday as a category four hurricane. cruz isnator ted expected to survey the damage around san antonio, keeping away from houston, where art are still flooded. the senior national guard officer said that the role of the military in the aftermath of hurricane harvey has been limited i the weather and the flooding. the air force major general told reporters that there were currently 3500 national guard troops involved, including 3000 from the texas national guard. >> just on the national guard side we are looking at a possible 30,000 soldiers and airmen that effort rested could be brought in and those include additional rotary wing assets. those will be needed to finish the response needed and then start in on the recovery phase. scarlet: the generally knowledge to -- mark: the general acknowledged that it exceeded what state planners

i want to bring in marty schenker. there are conflicting reports.es"a new york saying that trump is still debating, while abc news saying that steve bannon resigned two weeks ago. what does it mean for the so-called all right movement and that vein of thinking in a macon society? -- in american society? marty: i think is alive and well frankly. with all deference to bill, i'm not sure it will make a tremendous amount of difference in terms of steve bannon's access to donald trump's ear. they really both think the same way about the world and this country. steve bannon can talk to donald trump anytime he wants. all yes to do is pick up the phone. he may not be physically in the white house. ultimately this is an issue about the nature and character of the president. bannon's departure does not change that. vonnie: let me ask you why the stock market might be rallying on this particular news. it still seems like this is why. as soon as these reports, the stock market did make a quick reversal. is this to do with bannon leaving the white house in one f

marty schenker will join us in a moment.ord news, here is taylor riggs. taylor: white house chief strategist steve bannon has gone public with his speech over china with a -- in a conversation with a left-leaning magazine. bannon once a tougher stance on trade with china. in beijing, america's top general says war with north korea would be horrific. general joseph dunford said letting north korea develop the ability to launch a nuclear attack on the u.s. is unimaginable. he told reporters president trump asked the pentagon to develop a viable military option. in new york, five people face charges in what was a $5 billion scheme by a bank of america ploy e. -- employee. fired by the alleged scheme came to light. in the u k, retail sales rose more than forecast in july driven by the biggest jump in food purchases in almost two years. increased of goods .3%. the data shows british offers are changing their habit week has of faster inflation. global news 24 hours a day, powered by more 2700 journalists and analysts in more than

jonathan: marty schenker, always great to get your insight.d marty -- anat a a lot of people saw these advisory boards as symbolic and nothing else. does this management them mean anything? admati: means -- it means that feelings about him and some of his agenda, so there is some symbolism that they are, sort abandon him,m to and of course, the spectacle of him picking up right before their announcement. so, this is, sort of like what happened with donald jr.. emails were going to be published, so he immediately published them himself. jonathan: neil dutta, to pick david westin, if you think that the phone and says don't move the plant, will they do that, and what they have done that months ago? think ceos are catching up to where the market has been all year. the markets, initially, i think, overestimated donald trump, but they underestimated earnings. now, the markets, i think, are basically no longer sold on the idea of corporate tax reform, and that is in the case since february. i don't remember going into a client meeting in at least 4,

let's bring in margie schenker arty shanker. he talked about creating this unit but we did not hear about reprisals or recriminations or anything that might happen to anyone who is a leader. it was interesting, it was as much a message to the president of the united states as it was to the public at large. that they take the leaking of classified information seriously. donald trump had criticized for not personally taking a firmer stand on leaking and this is his answer. they take it very seriously. the question is, what congress and will come out of this. it remains to be seen. he said rogue anonymous sources with security clearance, we will not allow them to sell out our country. shouldsecurity clearance not be given to rogue or anonymous people. various disclosures like the washington post just yesterday of the president's private conversations with the leaders of australia and mexico, that came from someone in the .dministration those documents were clearly manufactured by the white house. those are people who already who fi

we are joined by marty schenker and douglas holtz-eakin still with us. us a sense.re at ground zero in washington. what is the level of chaos within the beltway? >> it is relatively high even for this administration where anxiety seems to be the state of play always. donald trump not unfamiliar with divorce, just divorced big business. at least to some have to do it in a courtroom. an administration that heralded its relationship with business at its beginning is quite striking how he is basically saying it's over. the romance with big business is done. david: what are the ramifications on the hill? had a verynt aggressive ambitious agenda when he came into office that he needed congress to support him on. what are his chances of getting it through congress anytime soon? >> i don't know the business council is anything more than symbolic. councils weren't meeting regularly. the strategic counsel i think met once. i do think that businesses will an agenda that moves through congress. infrastructure, making sure we don't shut down the government. they will be supporti

francine: thank you, marty schenker. joining us from washington, d.c.gnos, rbc europe fx energy -- strategist, and mark dowding, from bluebay asset management. what is your take on these white house removals? will they have an impact on growth longer-term and therefore on the dollar? elsa: the initial reaction overnight was somewhat negative. the firing of scaramucci 10 days into the job sparked this belief. but john kelly has been received relatively well. he is a demand that if anyone could bring order to the white house, he should be able to do it. there is still skepticism over if you will be able to do it, but we are less concerned about what is going on in the white house and more concerned about what is going on in congress. francine: are you worried about the debt ceiling? mark: no. andad a republican congress president -- it should not be an issue. of course, there is going to be noise around this, but i do not think that is going to be the driver of markets in the next couple of months. up thewant to rip script. john tucker on bloomberg radio

david: thank you so much for joining us, marty schenker. big situation is what the companies do in terms of the pr story. stock is down by about 35% this year. they have been hammered. kevin frank made a decision on behalf of the business and i think the merck decision was a lot more personal. david: he has a lot of problems with this company, but it did not help that he got associated with these business councils. president trump beecher these councils prominently getting with foti -- photo ops and referring frequently to support he was getting from the business community. deciding to withdraw brings up a host of difficult issues for the leader of a publicly traded company. joining us on the phone is scott galloway. welcome back to bloomberg. calculus ofugh the -- what are they thinking about as they make these decisions? scott: the calculus is simple, the president is radioactive and there is little downside to walking. as you pointed out, the calculus was different from the ceo of mark because this is more personal for him and he has mor

yvonne: jason schenker, thank you. also, kathleen hays us in this conversation. up of the stories you need to know in today's edition of daybreak. onscribers go to dayb your terminal. it is also available on your mobile. this is bloomberg. ♪ >> welcome back, you are watching daybreak asia, the opening markets are just moments away. we will wrap things up quickly. betty: we are looking at a lower open to start off. interesting 24 hours that were punctuated. u.s. stocks managed to maintain their stocks ahead. flipping the board show you some stocks to watch here in asia, watch for reactions crowns results resorts. toyota will report their first-quarter numbers. it's making headlines. it's set to mold a potential hire a with mazda. check out suzuki as well. the managing officer also said it is still studying its cooperation with toyota. it is ramping up on its electrical vehicle technology to get in on that action. that is a look at what we will watch when trading gets underway. just a moment from a nap. this is bloomberg. ♪ ♪ >> the grand jury hurts wall stree

thank you very much, marty schenker, coming to us from washington. jonathan: let's bring in the head of public policy research from barclays. he joins us here. it came out yesterday, the chief of staff for the white house, it was john kelly looking very thoughtful, and what i thought when i looked at that picture of him, just the number of weeks ago, many a story was written about this guy bringing order, restoring order to the white house. it doesn't look like there's much order in the white house right now. what do you make of it, and ultimately, what does it mean for the effort to get tax reform through? >> i think the various c.e.o.'s leaving this council is their own personal decision. i don't think it has a dramatic impact on the policy agenda on this. keep in mind, the president can say and tweet lots of different things. but at the end of the day, we need congress to actually pass tax reform. on the first issue on the chief of staff, my take on him, he has brought a lot of order to how folks report in to him. you're seeing various folks leave