we will bring you an interview with the chief executive officer, sergio ermotti.is coming up next, and this is bloomberg. ♪ francine: this is "bloomberg surveillance." let's get straight to the bloomberg business flash. here's laura wright. laura: billionaire jack ma is taking his finance group public. he is seeking a valuation of national theft $200 billion, and thes already valued amongst -- the company could raise more than saudi aramco's record hold of $29 billion. bayer has failed to overturn the first jury verdict that is roundup weed killer causes cancer, but he did get the $79 million award slashed by three quarters. that is not covered by the settlement, three quarters of u.s. claims. the goal is to get the verdict overturned. dots bank may need to cut at least 1000 jobs -- according to those monitoring the lender. the bank chief executive told bloomberg he is planning a significant staff cut. the lender is not commenting be on the guidance he gave last week. that is your bloomberg business flash. francine: the worst may be over for ubs. the bank has

matt: that was the ceo of -- sergio ermotti. european leaders have agreed on a landmark stimulus package that will see the blockage of 750 billion euros of joint debt. the deal, which came after four days of tough talks, is a big win for the french president, emmanuel macron, and maybe even a bigger win for angela merkel, who drafted generally outline for the proposal in may. they still demanded a rebate in order to vote for it. the emergency fund will get about 390 billion euros of grants and 360 billion euros of low interest loans. maria tadeo joins us now from brussels. who here benefits most? know, thel, you beauty of a european deal is that everyone is claiming it is a great victory for their country and a very good compromise. if you look at the overall fund, you are looking at 750 billion euros, grants and credit. that will be delivered to countries hit by the coronavirus. the amount of money paid out in grants is 290 billion euros. that is down from the initial proposal that is 500 billion euros. if you look at the actua

ceo sergio ermotti. parent has fears of user growth outweighed a jump in second-quarter revenue.ere at 17% as users relied on the app to spread information about the coronavirus peer however, active daily numbers of 238 million were behind snap-on shown forecast. shares have close our regular session your records, but fell on that earnings news. amazon set a new record in the second quarter with rising antitrust scrutiny in washington. 10% from the same a year ago and slightly higher from the march quarter. amazon and other big tech rivals are under investigation for abusing power to stifle competition as the coronavirus boosts demand. interviewnext, our with the chief scientist of china's largest meal delivery platform on data privacy in the future of robot delivery careers. this is bloomberg. ♪ >> we're setting up for a mixed session in asia. to clingres managed onto some gains. amid concerns we could be far off from another stimulus package in the u.s., even though we did see an agreement coming out of european leaders. flat at thetrading moment, not much of a move. singapore,

my colleague, manus cranny, spoke to the ceo of ubs, sergio ermotti. better than expected. there is even talk of a share back. well, andrformed very asset gathering businesses were very engaged with clients and i think that is, you know, during of course, there was a mix seeing the fruits of our investment and technology being front to back. also the value of -- was very important, so on that side, i would say that the effects to business, rates, and credit business were very strong, more than 100% up year on year in equities, in

we asked sergio ermotti what impact the u.s. will have on his clients.ents arer thinking about changing their asset allocation on the election, no matter who wins. ritika: ubs also indicated that the worst of the cost of bad loans are behind. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> i spoke to a number of restaurant owners yesterday. we've had numerous conversations . restaurant and bar owners are going to make it bad for the good ones. most are complying. they are going through a very tough economic situation. but they are living by the rules. the bad ones who are exploiting the situation and breaking the law, by the way. jonathan: i am not sure i like the term "the bad restaurant owners." right now, this is just desperate for this industry worldwide. that is the real story playing out not just in america, but across europe, asia, and the whole of the world. this industry just punished by this pandemic and res