siemens shares are up more than 3% in early trading.ufthansa says first half trading more than doubled. fuel cost fell during the six months. lufthansa also saw its passenger airlines improve. those are some of the earnings so far. another corporate story this morning, diageo reporting numbers. forecasting a return to sales growth next year. for more, i'm pleased to say the ceo of diageo ivan menezes joins us from their offices. a return to sales growth next year. you tell me, what do you think underpins that? ivan: through the course of this year diageo has gotten stronger. as we close out this fiscal year, our business in north america has improved in underlying momentum. western europe is back into growth. it grew 1%. africa in the year grew 6%. asia and latin america got into 6% and 7% growth. india is strong. you put it all together, the company is stronger from a brand standpoint. our marketing has really sharpened. from a sales standpoint, we are much closer to the consumer. from an efficiency standpoint, we are more productive i

for years daimler siemens and bosch have been a common sight in the iranian capital of tehran. even an attack on a restaurant in 1992 could not do much harm. the policy has been reborn. business is not the only thing they can talk about. sarah: going on trial in the capital. the 72-year-old refuses to recognize the jurisdiction. the case is unprecedented. intentions are running high. >> as people file in the courtroom, tempers flare inside. they angrily denounce the trial is a farce. raising a clenched fist in defiance before security officers let him back out of the courtroom and moved supporters. the defendants seat inti as proceedings began coming after a 25 year campaign. >> the signal they sent this to a leader. they kill people, kill the innocent, commit other crimes against humanity. they may think they are getting away with it today. >> is around 100 witnesses due to testify, the trial is expected to last three months. africa he said must prove that is able to judge. sarah: john kerry has welcomed a new beginning with relations to cuba. they reopened embassy's in the fi

for years daimler siemens and bosch have been a common sight in the iranian capital of tehran. even an attack on a restaurant in 1992 could not do much harm. the policy has been reborn. business is not the only thing they can talk about. sarah: going on trial in the capital. the 72-year-old refuses to recognize the jurisdiction. the case is unprecedented. intentions are running high. >> as people file in the courtroom, tempers flare inside. they angrily denounce the trial is a farce. raising a clenched fist in defiance before security officers let him back out of the courtroom and moved supporters. the defendants seat inti as proceedings began coming after a 25 year campaign. >> the signal they sent this to a leader. they kill people, kill the innocent, commit other crimes against humanity. they may think they are getting away with it today. >> is around 100 witnesses due to testify, the trial is expected to last three months. africa he said must prove that is able to judge. sarah: john kerry has welcomed a new beginning with relations to cuba. they reopened embassy's in the fi

blame -- siemens reported profits that the analyst estimates.ncy effects, siemens revenue would have declined 3%. lufthansa says profits more than doubled. lufthansa also saw its passenger airlines improve. shell says it plans to cut 6500 jobs this year and reduce capital investment by $7 billion. second quarter adjusted profits -- the company is selling about 33% to a japanese business for about $1.4 billion. let's stick with that conversation about the oil businesses. been dan burton joins us. good to see you. things for joining us here on bloomberg television. what you are planning to with your japanese business. selling 33% of shell. why did you decide to do that? what is the rationale? ben: good morning. thank you very much for the opportunity. we've always -- we always review our portfolio. we feel the business is either resilient or -- we thought in this case, the strategic base was not strong enough to justify holding on to it. we will be able to derive more value. the logical conclusion is we refreshed that part of our portfolio and mov

we also saw better than expected earnings from rolls-royce, rbc, and siemens. this picture is different in the united states. although we have seen the indices come off some previous session lows with the dow jones industrial average in the s&p 500 ever so slightly above the flat line. investors are digesting a weaker reading of economic growth in the united states. let's drill down on the economic growth as we look at some stories. the biggest show the economy expanded by 2.3% in comparison to 2014. that fell short of expectations and there were forecast for a stronger forecast. the economy swung back into growth after a week forced quarter with a harsh winter and strikes on the coast. the german jobs market seems to have taken a summer break. unemployment rose unexpectedly in the month of june. there were 9000 more jobseekers in that month, bringing the total to 2.8 million people. unemployment remains at 6.4% in germany, which is low since the country was reunified in 1990. and the company is facing a backlash for using exotic skins for handbags. animal acti

. >> according to the press, the group includes representatives from volkswagen, siemens and mercy 80. as well as smaller companies. germany's company heavily reliant -- germany's economy heavily reliant on trade. in 2000 14 germany industry groups tested exports from the largest economy could as much as quadruple in the next several years. >> we hope to make a lot of progress after sanctions are removed. it seems german companies and the state have political determination to help iran put behind it the era of depression. >> iran hopes to gain its position in the oil market. less than half of what it sold overseas before sanctions were imposed in mid-2012. to further economic ties between the nations, germany and jurong plan to hold an economic conference later in the summer. the last event was in 2002. >> i have my bike. i don't know whether he has. new figures show they are writing their bikes or the never. x retailers have seen an explosion of the popularity of cycling, a sport that has taken off. two british winners of the tour de france. whether it is that's or brits loving the s

matt: siemens is down 14% over the last three months. one great example of a company that even if there are issues in europe, it operates locally, so it is kind -- it operates globally so it is kind of a discount. krishna: absolutely. a change in the direction of the prospect is probably the highest of anybody in the world. i think european companies are great buyers. finding great companies like siemens one should be looking at those types of opportunities today. matt: cool. stephanie: awesome. matt: rose-colored each other last names -- bros call each other last names. julie was talking about health insurers consolidating. we are taking a closer look at a $35 billion deal over the weekend and why there could be an even bigger deal on the horizon. stay with us on "market makers." ♪ matt: we are back here on "market makers" and looking for any market reaction to greece. we don't see a huge connection, but we do see red across the board here. maybe we are not looking hard enough for the connection. dow jones touching a five-month low just

i do not get how siemens nestle that's why they go in under a euro? bob: i am with you.re is no way that this valuation level makes any sense for greece. we know if we release the currency, it would go down here. therefore, why? tom: what is the incentive for siemens to go in if they do not get an immediate kobe, which is a depreciation -- an immediate bogey which is a depreciation? bob: it is actor what tom said earlier. reese is insolvent. -- it is back to what tom said earlier. greece is insolvent, and when we'll it -- when will we accept that? this is the reason, of course, that germany is doing all it can , france is doing all it can, to find those band-aids because it is concerned about that. in one sense greece could fall into the sea and it would not matter for the global economy. they are this big. it is the currency connection and therefore you have to move on to get them out in some way shape, or form. tom: some of the debate this morning -- we will continue this discussion. brendan greeley talking with hans nichols in the next hour at some length. he is a mas

david can't talk was saying all these problems in europe are devaluing companies like siemens.oward: we are doing more in europe at the present time. stephanie: where in europe? howard: there are things to do. it is not been a delusion, but it has picked up from the trickle of two or three years ago. there are banks selling portfolios of loans. we are buying loans and businesses and even starting businesses. stephanie: nobody better. that was my interview with oaktree capital founder, howard marks. pimm: viacom -- it is the cover of this week's "bloomberg businessweek." wants mtv.why nobody ♪ pimm: welcome back to the "bloomberg market day." i'm here with -- stephanie: stephanie ruhle. nothing makes me more bonkers and people saying, i'm stephanie and this is pimm. do it on your own. now i am going to say his name -- he is here taking a look at what stocks are doing today. they are on the move. the markets have been open a few hours. look at that, in the green. guest: that's right. i want to talk to you about a couple major movers right now, the acquisition we are talking about

siemens at the top of the dax after it confirmed its four-year outlook as third quarter profits beat forecasts. health care and industrial software businesses have also very much a focus for this business offsetting the slowdown in the oil and gas services. now, moving in the other direction is infineon. the semiconductormaker downgrading its four-year targets. interesting, actually. investors not real concerned about that right now. volkswagen, though under pressure, down 1.3% its audi subsidiary lowering sales outlooks on weak demand from china. chinese sales decline for the first time in over two years in may. let's move on to renault, down 7.7%. ouch. reporting, in fact, a strong set of first half earnings. the french carmaker trailing at the bottom of the cac 40 after striking a more pessimistic tone on the outlook for the european car market. this is the real focus now. let's get out to stephan. pricing pressures still an issue. >> for the first harlf of the year directed by stronger recovery in the european car sector. net profits surged by 86%. it was broadly in line with exp

companies like peugeot, audi ford, slashed growth for china and industrials, like caterpillar and siemens about negative impact. let's get you caught up on global markets right here, right now. european stocks, take a look, footsie and dax pulling back ever so slightly. cac up about 1/3 of 1%. greece is back in the picture. troika going to greece. imf is not going to participate in a bailout unless greece cuts down the debt to figure out how to do that. u.s. stock market futures have been hovering around the unchanged line. dow, nasdaq and s&p. lauren: great week and great month, then you have bond investor bill gross warning that low interest rates could have negative impact on the u.s. economy. gross telling trish regan there is potential harm to a capitalistic economy and fed needs to act soon on rates. gross sharing his thoughts whether there is a dollar bubble? this is what he had to say. >> there are bubbles around. and one of the other bubbles might be the strength of the u.s. dollar. you know, that's gone up significantly relative emerging markets like brazil. high levels promoted

david coates at all of these problems in europe are devaluing a copy like a siemens from which is kinda bargain right now. howard: we are doing more in europe right now than at any other time. stephanie: it seemed like investors said that we are in europe and we are waiting for the banks to deliver but no one did. are thingsl, there to do. it hasn't been a delusion but it has picked up from the trickle of two or three years ago. there are banks that are selling portfolios of loans. we have been on the buying site of some of them with the options don't get out of hand. and we are buying loans and businesses and even starting businesses. no more time come but our hedge funds in a tough spot? he's a poison girls, manager risk come at a time when investors say i don't want to pay unless you deliver be big returns? ward: not easy. if you look at the returns of hedge funds over the last decade, 5% a year. i will leave you with that one. matt: what do you think, stephanie? stephanie: if you have got to risk management what do you do? howard: sometimes prudence is the right thing to do. we are

for example, siemens, came through saying sales would have been negative 3%, but the fact that the euro and deutsche bank is higher and nokia and alcatel about to merge with lucent. the euro is boosting earnings in europe. the other major factor you're getting is people warning, ceos warning on economic growth around the world. for renault and anheuser busch. it's about emerging markets and china. saint gobain warned, on the big glass maker and the oil majors are driving higher with exception of repsol. royal dutch shell a axing 6,500 staff. the financial times is reporting at the corporate level that starwood has re-entered talks with intercontinental. starwood, which reported today, both of them reported today. starwood isn't moving on the news, but ihg is higher. originally that would have been the tax inversion, fritz van passion was in charge and he wasn't returning cash to shareholders, everybody is like what is he up to. that's resurfacing. apparently starwood can be talking to other people. given the fact that they're up for sale. it's obvious in a way. quickly want to mention w

matt: david yesterday was saying all of these problems in europe are devaluing companies like siemenskind of a bargain right now because it is a global company. stephanie: where in europe? it feels like investors have said, we are in europe and we have got 18 there we are leading for banks to the lever but no one did. >> it has picked up from the trickle of two or three years ago. there are banks selling portfolios of loans. we have been on the blindside us some of them won auctions get out of hand. we are buying loans and businesses and even starting as mrs.. stephanie: are hedge funds in a tufts not? you are saying, focus on risk reduction at a time when investors say i do not want to pay. what happens to someone out there raising money? >> not easy. look at the returns of hedge funds, they has averaged five per year. i will leave you without one. stephanie: not necessarily. if you are racing to get returns, what do you do? >> sometimes prudence is the best thing to do. stephanie: howard, thank you so much. ♪ julie: welcome back and it is time now for futures in focus. euro futures

think johnson can call -- think johnson control, some power, siemens. what are you most excited about now, jeff? if we are making the world a better place for real, what has the best potential for slowing down the effect of climate change? jeff: it is undoubtedly efficiency. every kilowatt hour can be used more efficiently, and more work can be derived out of that with better technology. the technology we need to make a serious and in the increase in emissions exists today. what needs to happen -- we look at it as a massive finance problem. it needs to get adopted more quickly than it is, and that is why we are embedding our financing solutions into these engineered solutions. erik: one of the things i was wondering is why you are not more levered. if you were investing in predicable cash flow streams in the form of utility great soul are and -- utility grade solar and wind farm projects, why not amplify your spread by borrowing more? jeff: there's always a plan to increase leverage. right now i'm dividend yield at 5% with a 15% guidance on the share pr

we have earnings from siemens, some of the beverage companies have not done so well.what about the weeks ahead? it is a heavy agenda of reporting, but there will be more next week. namitha: we are done with about half the companies. there are still some big bank earnings coming your way. we have seen some earnings from carmakers we are keen to know if the china's slowdown has affected them. global sales forecasts were cut because of china's concerns. bmw and continental coming up. anna: we heard from many european carmakers about china. lothar, let's bring you into the conversation. is that where your focus is? when you look to get exposure you are looking for companies being driven by the european consumer. is that the story for you? lothar: that is the story. the second half of the year may be the story of the periphery of the consumers of domestic consumers in the euro zone. china's demand has slowed, that might hurt the german exports machine. we may not see quite the same results that we saw in the first half. 8 anna: we talk about greece, and we were telling abo

we all go to siemens we go to total of franch.e.tunity is there when you go to the nestlÉs of the world, all the copies that are adr's but they are affected, and then if you headed out in the dollar gets weaker, i think when you buy the good international global companies they are well devised the fight -- they are well diversified but they are on sale because of liquidity issues. vonnie: buy euros, then the companies. tom: a 3.2% yield. sarat: buy some of the good quality companies that get soul because they are in the basket. tom: what is the number one mistake investors are making right now? sarat: the biggest mistake we see all the time is timing. investors say oh, it is going to get really ugly, the fed is going to raise rates, the markets going to pull back. standard allocation and then moved to where you think. these will benefit from potentially rising rates. consumers will benefit, who is not going to benefit, right? so look at that. the whole institution trade could actually hurt people. when you have 4%, 5% dividend yield

initiated a new project that is focusing on demand driven work-based learning that supported by the siemensfoundation. as part of this project we are going to be working with six states that will be looking at strategies for connecting young people 16-29, connecting them with jobs middle skilled jobs in stem areas. will have a competitive selection process, participating states will receive up to 1000-dollar grant to cover the extra cost of participating. we will issue a selective selection process this fall for this project. on a parallel track we've we have been working with the u.s. department of labor on the american leadership initiative that focuses on rethinking apprenticeship in this country and the department is investing $100 million in grants to expand apprenticeship both in traditional industries and a new industries. i know secretary perez is going to talk more about this initiative. work-based learning, training, approaches bridge the world of learning and work their apprenticeship, internships, on the job training and they are work experience. these are earn and learn approac

until i first -- july 1, we initiated a new project that is supported by the siemens foundation. as part of this project, we are going to be working with six states that will be looking at strategies for connecting young people 16 to 29 and connecting them with jobs, skilled jobs in stem area. where we will have a competitive selection process. participating states will receive up to $100,000 to cover the extra costs of participating. we will issue the selective -- selection process this fall for this project. on a parallel track, we have been working with the u.s. department of labor on the american apprenticeship initiative that focuses on rethinking apprenticeships in this country and the department is investing with hundred million dollars in grants to expand apprenticeships, both in existing industries and new industries. work-based learning, training approaches bridge the worlds of learning and work. these are earn and learn approaches that prepare young people with the relevant skills that employers need, but also so that they can achieve economic success for themselves. a