we got the comments through from schulz as well. could we bounceback? fors records on the s&p 500 but in terms of the u.s. futures, we are set up more positively on s&p 500 and nasdaq futures. a mixed picture in terms of tech earnings. juliette saly in singapore has a lot more for us. good to see you. a little bit of cautious trade in asia on the final trading day of the week ahead of the u.s. gdp print. a busy week ahead. the fed meeting but also we've got the talks resuming between the u.s. and china. you are seeing chinese markets start to reverse in late trade and gains coming through. perhaps some speculation of state-based buying ahead of the talks. the csi 300 up .1%. india stocks have been firmer by .25%. saw the nikkei closed weaker along with stocks and korea, down for a third session in a row, and australia's market off i .3%, retreating from the near all-time highs. i want to show you the moves that have been seeing in currencies in asia. we had singapore industrial or factory output coming through. on year but that was better than estimates

singh and christian schulz staying with us. remember, boston pops fireworks spectacular during on -- spectacular airing on bloomberg tonight at 8:00 p.m. eastern. this is bloomberg. ♪ ♪ guy: from london, i'm guy johnson. this is the european close on "bloomberg markets." we are back with manish sig -- with manish singh and christian schulz. president trump thinks that the u.s. dollar is overvalued. 40% of gdp is driven by exports, and you don't have any local growth in the euro zone. point?sident trump got a looking at the levels, may be, but i don't think it is being driven by the euro zone deliberately trying to keep the euro weaker. i does agree with that. guy: with negative rates, it is hard to make that argument. manish: but i think mr.'s point is political -- mr. trump's point is political. look at the comments last week. it is ridiculous to say that nobody knew him, i made him. that is not the remarks of a very sensible person. i think it is playing to his audience. it doesn't mean much in terms of policymaking. guy: wha

verstappen made his way through with a stunning drive. 0nce valtteri bottas was behind him, he only has schulzthat caused the three hour delay while stewards examined it —— charles leclerc. mr happened's verdict, ad max verstappen‘s verdict, we have to stay home. that is not in his diary to stop it is on to silverton in a few weeks for the british grand prix. maverick vinales won the dutch moto gp at assen on sunday for yamaha's first win of the year while honda's world champion marc marquez finished second to extend his championship lead to 44 points. french rookie fabio quartararo, who started on pole position for the second race in a row, finished third but it was spaniard vinales who got the win — while his compatriot marquez now has 160 points keeping him well ahead of italian andrea dovizioso, who finished fourth for ducati in the 8th of 19 races. at the diamond league meeting in stanford, california — reigning 0lympic and world champion caster semenya claimed victory over 800m. the south african, who's appealing an iaaf ruling in order to have her take medication to reduce testosterone

publication of the history of the labor movement in which the shields boys in the heart group became the schulze of boys and hard knock organization and that's why the with and then they discovered it also had contacts with moscow. and st important or information from berlin to moscow with the radio my father had sat have. my father is the. secret police paucity of his milk and had a feature film made. kael k. to p.t. x. one of the most expensive east german productions ever telling the tale of agents to do the party line. copy jr did some of the research in moscow. with a gun in my. yes i wanted to find out which radio messages he sent they surely must have arrived here and so on. but i was told no we don't have any radio messages why are they somewhere else and there's no i was told there's only one radio message from the 23rd or 24th of june 1901. in other words right after the invasion of the soviet union began.

i'm joined by elizabeth schulze to discuss those numbers which factors may have prompted amazon shares to fall? >> amazon had a series of record profits over the past few quarters it looks like this broke with the latest earnings report the eps came in at 5.$5.22. sales growth was strong, 63$63. billion in the second quarter, that was 20% growth year-on-year that tells us amazon is delivering sales despite the added cost to its business one of those big costs is the introduction of one-day shipping in the u.s., that showed up in the cfo saying that coasted more than the 800 million they projected. the other sort of red flag in the report is the slowdown in aws. so this is amazon's cloud business it reported growth above 40% in sales growth every quarter since the company started reporting the metric this quarter we got 37% sales growth perhap assign that some of the competition is keeping up with amazon in the cloud, that wouldn't be a great sign for profits going forward. >> we had a pop in alphabet shares after the markets closed yesterd yesterday. what is behind that? >> alphabet ha

elizabeth schulze joins us with the latest live from london.e company that is being singled out here >> that's right. we are seeing shares of these big tech companies including facebook, amazon, alphabet and apple trading lower in extended hours. the justice department announcing it will open this broad antitrust review into market leading online platforms and whether they're reducing competition, stifling innovation or otherwise harming consumers as you said, the doj is not singling out individual companies as part of this review but it's looking into search, social media and retail services online so it looks like at least it puts google, facebook and amazon in the firing line here. those companies are not commenting so far. this is just a review but it could turn into a full blown investigation. we've already seen big tech companies in the spotlight as part of that bipartisan investigation into their market power in congress. that doesn't get to the ongoing antitrust cases here in europe just last week the eu opened a formal investigation in

so we turn of course to elizabeth schulze live in london to wrap it all up for us we'll started wi with amazon fit we have some moves here, but it's one where investor also pay attention to the down moves. >> that's right. we had a series of record profits from amazon over the past few quarters. this quarter and the second quarter, eps came in below expectations focus on whether amazon is returning back to its old model where it's more about growth than returning profit. sales were strong. you saw 20% sales growth compared to the last quarter a lot of that seems to be reflected from the investments that the company is making amazon said they would invest 8$800 million in the next day shipping the cfo said they put more into that and that is ultimately seeming to drive some of those sales the other key point here with amazon is aws. we saw a little bit of a slowdown in revenue growth with aws, 37% growth. it's the first time that number dipped below 40. still strong growth in the cloud unit there >> a big move there. let's get to alphabet. those shares trading higher after a solid quarte

. >>> a number of big technology stories this morning so we asked elizabeth schulze to join us for aid fire elizabeth, the "wall street journal" saying apple is in advanced talks to buy intel's modem chip business. this could be a big deal >> this could be a big move fo apple shifting some of that production in-house when it comes to the 5g chips. apple is the only smartphone maker that has not introduced a 5g smartphone. this could be a signal that they want to take a step forward on that qualcomm shares are down this would not be good news for qualm after they reached that multi-year licensing agreement earlier this year. >> a potential $1 billion deal there. speaking of 5g, we can't talk about 5g witho jouout talking a huawei a number of tech ceos meeting with trump to talk about when they can sell stuff to huawei. >> that's right. a handful of chips makers and ceos yesterday at the white house, goggle's ceo at the white house yesterday. ultimately what they wanted to talk about is this huawei entity list and the idea they can speed up the licensing agreements with huawei we heard

what would you do if you were a lot of schulz -- olaf schulz.al with the deutsche bank problem and the fragmentation. what would you do to make sure your banking industry was a strong and helped your future economy in such a difficult position? example, what spain did in the crisis with the financial sector reform was a very important step. which was improve transparency, and at the same time, avoid the idea that merging weak banks is going to help those banks get stronger. two weeks banks that make a stronger bank, they make a weaker bank. not ae learned that it is good idea to try and disguise the issues of one bank by putting it together with another. the other element is that what deutsche bank is doing is the correct strategy. it is improving costs and reducing transparency. it will start separating part of the businesses. so what they need to do is make sure there is enough transparency so that no one starts believing there is some hidden data out there that would show the banks are in a worse situation than what they are. i think that tra

support her nomination or out of political response to the spirit here in berlin and our very own terry schulze in brussels to both of you thank you. in the united states democratic members of congress who visited centers in texas housing migrants say they were shocked by what they saw all they were not allowed to take pictures inside but congressman you walk in castro was able to secretly film these images which he posted to twitter he says they show women some of them grandmothers sitting on concrete floors crammed into a cell with just one toilet and no running water to drink or water for washing their hands castro said the women asked lawmakers for help but that they feared it retribution. when new york democrat alexandria cortez also visited detention centers in texas on monday and said that the conditions were horrified. there's abuse it's the city's there's abuse this is that on their best behavior and they put them in broome with no running water and these women were being told by c.b.p. officers to drink out of the toilet they were drinking water out of the toilet and that was them kno

we speak with german finance minister olaf schulz. purge, boris johnson tears up the cabinet and promotes brexit enthusiasts to top positions. earnings avalanche. we get numbers from some of europe's biggest names. don't miss our interviews with the volkswagen, roach, and many more. alphabet and amazon report. ♪ nejra: good morning. welcome to daybreak europe. just gone 7:00 in london. let's get into the earnings. assets inning to sell 2019. mostly in emp. that's one of the key lines we are getting out of hotel. -- total. was 2.98. that's a miss for total on second-quarter adjusted net income. basically, profit also dropping with lower oil and gas prices. offsetting rising output. this is a similar story to what we heard from ecuador earlier this morning. challenges for some of these oil and gas companies in europe. to buyonfirming a plan back $1.5 billion of shares this year. that's another key line coming through here. it's going to develop big -- it's energy market. total developing energy market. -- you areng is; are looking at al

schulze. while the workers on the front lines are critically important to aviation safety it is also important we have regulations and safety protocols in place to ensure the safest possible experience. much of the responsibility falls on the shoulders of the faa and ntsb. as you know in july 2017 at san francisco airport, and air canada airbus narrowly landed on a crowded taxiway mistaking it for a cleared runway. information about a runway closure that could have prevented this confusion was located on page 8 of the 27 page list of san francisco airport modems. it was the ntsb's finding that a contributing factor was the ineffective presentation of the note of information. how has the faa responded to this recommendation? >> thank you for your question. we did issue a recommendation to ask that that type of information have a methodology to better prioritize that information for pilots to be developed. i will need to get back to the committee on the current status of that. we have had more r

the bbc‘sjoerg schulze has more. ancient egypt always has more secrets to reveal.r the founder of the 4th dynasty, its unusual design a stepping stone for what was to come. government officials delighted to show it off. dahshur is a very important archaeological site, with five pyramids at least. two pyramids of sneferu, the bent pyramid, and the northern or the red pyramid. and three pyramids of the middle kingdom, the 12th dynasty. and now, people can see it like they never have before. a narrow, albeit fairly steep, 80—metre long tunnel leading down into the heart of the pyramid. it doesn't look like the easiest of trips but at least one visiting dignitary believes it will be worth it. this is one of the less known places here but one of the most beautiful. those two pyramids are reallyjewels which tourists must come and see. also on display, mummies, masks, tools and coffins discovered during recent excavations of the site. the pyramid won't actually be opened to the public for another two years but, in this place, where history stretches back millennia, that i

they typically have done in the past looking for profile so a high ranking -- social democrat martin schulz said that -- and ursula von -- line was the weakest candidate possible but he's's a man who lost to angle e merkel and the party itself is facing a problem of f weakness d i think to a certain e extent whatever they may think deep in our hearts. they need to be seen as critical or so of on line and the other reason why i think i'm gonna merkel probably and status because germans are very averse to triumphalism of any kind and they've. basically won the jackpot here angegela merkel -- it t was officially supporting meantnt tt theyey were from the christian social union she's ended up getting o one of her very closet allilies thehe woman she was ses grooming to be her successors chancellor. into that top european job so i think she jusust doesn't wananto to to be seen to be gloating and she's got some domestic considerations as well. interesting stuff indeed us live on the line i am noting your pronunciation they can i will adapt to that. one the knowledge of german far greater the mind

components will help the firm to further its own capacity elizabeth schulze joins me around the desk with more on this we heard president trump over the weekend say one thing or hint at one thing. then at least one of his senior advisers said not so fast. >> that's right. yesterday on cnbc peter novara came on and said there will be a limited number of chips that will be sold -- that u.s. companies will be allowed to sell to huawei then said we'll continue to put this ban inplace we want this to be our policy, we want that hard line against huawei listen to how he addressed concerns with its allies on the huawei question. >> we will work closely with allies around the world to make sure huawei 5g is not in those countries. in the meantime a small amount of low-level chips will be sold to keep systems going. that's not a bad thing when it gets us back to the bargaining table with china and with china committing to immediate and significant purchases of agricultural goods. let's see if they deliver on that >> certainly some concerns that the u.s. might have given up leverage by this co

it's not looking good going into trading with tesla >> elizabeth schulze, thank you very much for those updates. we're also watching amazon today as that company prepares to roll out quarterly results after the close. deirdre bosa follows that stock closely. what should we be looking for in light of what we've seen from netflix already and facebook as well >> it's interesting. you were talking about tesla this growth over profits amazon has shifted the narrative over the last few years. we've seen more profit, less growth but this year the cfo earlier this year said they would be going back to growth mode, spending mode. they rolled out one-day shipping that happened in the past quarter. we are really going to want to hear how that is either getting consumers to purchase more, enter more of the prime ecosystem, and remember this is an initiative they said would cost 8$800 million >> this company has been given a lot of latitude and runway by investors over decades to show profitability. is it now fair to say as a mega cap technology retail company that profits will be a key focus? >> it

joining us from london is elizabeth schulze.cebook responding to concerns from lawmakers about the privacy around libra >> yesterday we heard david marcus, the head of this libra project at facebook trying to say we want to work with all of you regulators and law americas on ma lawmakers on making sure this is secure there are questions of privacy and david marcus said in his testimony that the swiss data privacy regulator will be overseeing the privacy issues related to libra we talked to that wreregulator, they say they have not been in contact with facebook. so there may be a bit of questioning around how seriously they're taking this and ultimately questions about trust on the platform, given that facebook has the 2.4 billion users and they would like to tap into those payments. >> amazon day ended yesterday, the eu, does it look like it will be more aggressive antitrust potential action against amazon from europe >> we know that this amazon probe was coming cnbc spoke with the competition commissioner a couple months agomen

let's bring in elizabeth schulze. what did investors find so reassures that we're seeing this boost? >> the key line is the strong consumer demand going forward. we have seen a general sluggishness in demand for smartphones, ams singled out strong demand in smartphone units in the next quarter. it provides essential 3d sensor for apple, but ams saying they see strong demand in the android market this is a positive sign for the chip market because they have been subject to this volatility between the u.s. and china trade talks. it's a sector that's very dependent on the global supply chain. if one supplier gives these chip technologies says they see better outlook going forward, that shows up in the share price today. >> it's not the only story in the chip making space that is providing a boost. we heard from the "wall street journal," they reported that apple is potentially looking at buying intel's cellular modem unit how does this tie in andwhat i apple's rationale for buying this unit? >> we heard this before, but

elizabeth schulze joins us from london with more what can we expect from the grilling these tech companiesill get on capitol hill >> that's right. big tech back in washington. the house judiciary subcommittee on antitrust is holding its second hearing on online platforms and market power this is focused on innovation and entrepreneurship this is part of a bipartisan investigation into digital monopolies unlike the first hearing, today we will hear from the tech companies themselves with executives from apple, facebook, google and amazon. the hearing will include a panel of antitrust experts including some who are in favor of breaking up these companies. yesterday i spoke with one of those witnesses, stacy mitchell, she researched amazon's effect on competition in local markets. she said lawmakers are look at how to change the structure of these companies so that smaller firms can better compete for facebook or google that could mean spinoffs of wathatsa and youtube. we heard about fees charged to developers in the app store. another topic will likely be the expected $5 billion fine agains

tony gunnerson and elizabeth schulze as well, thank you. >>> let's go over some other corporate earnings big driver for ri richemo richemont. sales in asia offset sluggish performance in europe with growth on the main line particularly strong. sales were up 3% year over year excluding online distributors at constant exchange rates. >>> and givaudan reported a 2.3% rise in first half net profit. the fragrance maker said they plan to maintain the current dividend strategy. >>> and a larger than expected fall in quarterly sales at remy cointreau. the spiritsmaker said sales should rebound in the second quarter as high revenue cognac units continue to perform. >>> it is the 148th open championship adam is at royal port rush in northern ireland with more on the golf >> yes, where rory mcilroy will be teeing off in less than a half hour as thousands of fans stream through the gates here in royal port rush for the 148th open championship. join us back here live next. prevagen is the number one pharmacist recommended memory support brand. you can find it in the vitamin aisle in stores everywhere

across europe, you will see it, they are all very significantly in the red my colleague, elizabeth schulze is here to provide more detail what did this filing say >> samsung issuing guidance for second quarter guidance, we'll be getting those at the end of july, an early look suggests its operating profit is 5$5.6 billion. that was above expectations of 5.1 billion, but a 56% drop. revenue was helped a bit by that one-off reimbursement. most analysts expect that display reimbursement came from apple. the important thing to note here, there's a couple of risk factors. the first is the general tensions between the u.s. and china the trade agreement, which is weighing on the overall outlook for the electronic sector and for demand in that industry we saw japan put restrictions on south korea, that would make it more difficult for samsung to get some required parts it needs to make chips. chips are the most profitable part of the business it's an seen the initial part of this company's bottom line we saw a drop in shipments to huawei so huawei buys chips from samsung, inned addition to crean i

matt: in an interview not to miss, i will be speaking later with the german finance minister, olaf schulz will put to him, will they start spending more to improve the crumbling infrastructure here in germany? welcome to "bloomberg markets, the european open." i'm matt miller in berlin, along with anna edwards on the green in westminster. anna: here once again in westminster. blondy after the night of "thes, as it was dubbed by sun," in reference to the number of theresa may's extended cabinet who are now gone, 18 out of 29 of the extended cabinet no longer in their jobs. it was widely expected boris johnson would really rethink the cabinet and reshape it, and now we know he really wants to appreciate it in favor of the pro-brexit voices, surrounding himself with pro brexit voices and those who were loyal to him during the campaign. we know sajid javid has become the chancellor, former deutsche bank managing director, the first chancellor to have worked in the financial services sector since norman lamont, in the 1990's. the businessm, secretary. liam fox is out. those are the more busine

matt: last week we had all off schulz saying germany is not in a crisis.inting to the tight labor market and also saying he does not see any reason to boost spending, fiscal stimulus is unnecessary, nor to cut corporate tax rates. you?that make sense to berlin has its head in the sand? >> one interesting observation is that there is the clear dichotomy of the german economy and the european economy in general. what we see is a relatively ,esilient domestic demand particularly the thai labor in at, also reflected sector that is holding up quite well. on the other hand, the german economy and the euro zone and european economy are facing a move in manufacturing. the cyclical parts of the economy, the trade related parts , are weak and continue to be week. on the domestic demand side, from that perspective, we are heading toward economic downturn, i can understand there is not much inclination to support the domestic at the moment. matt: thank you so much for joining us. that is it for daybreak europe. ♪ anna: good morning. welcome to "bloomberg markets the e

thatwill remind you minutes before draghi's press conference we were talking with a lot of schulz inwas saying there is no crisis and we don't plan on any fiscal stimulus and we don't need any corporate rate cuts. some on twitter compared him to an ostrich with his head stuck in the sand, not seeing the theing pmi's, not seeing need for infrastructure investment. chris wiley will stick with us, chief investment officer at connor broadly. we also want to get our top stock stories to annmarie hordern. >> good morning. heineken, the world's second-biggest rumor, down 6% this morning. they missed estimates on one of their weakest reports in six years. they've really been under pressure given higher costs of aluminum and what they say is poor weather in europe, although it does seem to be turning around. is up 2% even as they took a 1.8 billion euro unexpected charge this quarter, what they are focusing on is the growth forecasts at the top end of the soaring thisy are morning, up 23%. takeaway.com has confirmed that it is bidding -- if they decide to come together they have a market cap

matt: why did we see bundy yields rise -- bund yields rise after the schulz interview?t seemed investigators -- investors thought they could let go of their security blanket buns because it's not that bad. the finance minister isn't considering extra spending. mark: i think there was two parts. definitely the interview with the finance minister was a part of it. i do think he's optimistic, given the german pmi's, given the iphone. we've already seen forecasts of gdp drop 20% from around 2%. it's incredible collapse that keeps going. i think it's impressive how optimistic he is. he also says it will be fine once the man-made problems go away, man-made problems being brexit. i would like to know when those go away. i'm not sure anyone believes they will have a final resolution. and then of course, we have the u.s. china trade war. again, i agree with him. i'm a structural bear there and i will become bullish if the trade war gets resolved. but i don't see that happening. it's positive that there are face-to-face talks next week, but that's as far as we've got. let's see i

martin schulz, former leader of the social democrats, former parliamentary president was scathing. leyen chose today to send her first tweet. "hallo europa! hello europe! but she's going to need more than multi—lingual hellos to win over the doubters. here's adam fleming. the people were sounding off now is it sour grapes because their person from the political argument didn't get thejob? from the political argument didn't get the job? or from the political argument didn't get thejob? or is it that from the political argument didn't get the job? or is it that the green score a bit more concerned about the lack of transparency of how she was elected. i suppose they will roll in behind her, especially because lots of the political groups he the european parliament are negotiating a joint programme for the next five yea rs a joint programme for the next five years that they will present to her andi years that they will present to her and i think if she says that she will sign up to that programme, then she will probably be able to get everyone's vote. so this could be a bit of shadow—

similar to what we heard from mario draghi and olaf schulz.o, changing the variables he has to deal with and that he needs to be more mindful of risks to price momentum. with that, let's get to markets. mark, what do you think of the --'s sort of failure to move i don't know if failure is the right word, but they did not move today, just like the ecb did not move last week and the fed is expected to move tomorrow -- what is that going to do to the fx trade? >> i think what the boj does does not really matter at all. they did not move today and markets did not move to react. the boj is largely in nonevent. they have failed to hit their inflation target for so long, they have pump so much liquidity into the market -- the 2% inflation target was an when economicst was based around populations growing around the world. it is not for a time when japan's demographics has changed. they are not going to get the new birth -- 2% inflation target. no one cares of boj is directly on the margin. yen has been strengthening recently because there is a little

guest: i was referring to were secretary schulz has repeatedly , where he says we have decided when wee making deals with the soviets and realize the soviets want to make concessions, but they do not want to be humiliated, so we allow them to make concessions and never declared victory. the idea of pushing the iranian regime to make every concession a public concession and then be humiliated about it i think it's not going to work. clearly think the iranian regime feels the pressure and but for make some deal domestic races, they need to sell those, not as concessions, defeats for-- other the united states, victories for themselves, or a draw. when it was signed originally, how do they sell that to the iranian people? guest: they sold it in a traditional way that the clergy sells things. they worked both sides of the fence. allowed rouhani to sell this as a victory. mr. khamenei, who had been involved in every bit of the negotiation, kept his distance, saying i don't trust the americans, we should not have made this deal. he played the role of first promoting, making possible, then act

a bipartisan piece of legislation, supported by citizens climate lobby, founding members, george schulz and james baker, two top republican administrators in the george h w bush administration and george w. bush administration. this is not a tax. money collected would go back to citizens. it would be managed through irs. i think if this administration wants to demonstrate real interesting climate change, that is a good way to do it. host: how does the act work? fee on carbonut a starting lower and increasing gradually. the money collected is redistributed to american citizens on a monthly basis through irs. this fee ishy has, put on products, the manufacturer, or the use of them, creating carbon, including other countries. we would put a fee on any product, say coming in from canada, and the money collected would go to american citizens. that would encourage canadians to develop this process for their own citizens, and that would spread throughout the world. this is a bipartisan effort. host: talking about the legislative effort when it comes to environmental policy. previous caller men

. >> versus schulz covers -- marissa schulz joins us with him about the 9/11 victim compensation fund bill being voted on by the senate tuesday. the senate votes to permanently reauthorize the fund. what are the details in this bill? that extends the 9/11 victims compensation fund to the year 2092 does not have a plug-in of six but the idea is the legislation would live on for the lifetime of these september 11 victims. >> who are some of the sponsors we might recognize? widespread bill has support from both sides of the aisle. there is about 75 cosponsors -- 75 out of 100 cosponsors in the senate, and senator used in gillibrand and senator schumer have taken the lead on that. -- kiersten gillibrand and senator schumer have taken the lead on that. host: can you tell us a little bit about them? is namede legislation after 39/11 first responders from new york reserve background zero. unfortunately, all of them have gotten sick after their service at ground zero and have died in the years cents. -- since. the alvarez tried to -- lou eldreth spent his final years trying to lobby for this