that is the siemens beat. siemens is a heavyweight, what is helping the dax gain. the ftse is why you see london down. that and the fact that basic resources are the big losers here, and rio tinto is one of the biggest losers on the stoxx 600. that is listed in london, so the with morelling stocks, rio tinto is down, unilever is down, glencore is down, bp is down. these are the ones hurting the ftse. on the dax, gains for siemens, adidas as we were just talking about. that is why the german benchmark is rising. interesting market today. that's get the first word news in london. laura: researchers are developing a coronavirus vaccine as fast as they can, but that does not mean it will be 100% effective. infectious disease expert, dr. anthony fauci, says the potential for it could be 70%, but he feels good if it is at least 50% effective. >> the classical history of viruses, respiratory viruses are ash if they are going to be capable as this viruses efficiently spreading human to human, ultimately if you want to put the nail in the coffin of an outbreak, you will nee

what does it mean for siemens ag? they are also participating in this and will be paying for it ahead of time. like a good parent, they say you cannot afford this yet. they are doing a bridge loan which will pay for the deal. healthineers then will do a capital raise. ag isially, siemens biting the company just as much as healthineers is. annmarie: oliver, thank you ford joining us on this big m&a day. heineken reported first-half organic beer volume that beat the estimates. we will hear more from the heineken ceo, that interview is coming up next. this is bloomberg. ♪ annmarie: welcome back to the open. we are about 12 minutes to the cash equity trading. as pubs begin to open, heineken results are more positive than expected but the dutch brew works is still cautious. to any us now is dolf van den brink, heineken ceo. thank you for joining us. do you see this sequential improvement the company saw in the second quarter to continue? dolf: good morning. thank you for having me. we did see a sequential improvement in th

i'm steve connor, president of siemens energy, the us regional entity of siemens energy. we have more than 11,000 employees in the us supporting the country's grid operations, 21 perry clement and manufacturing service and innovation sites. our headquarters is located in orlando, florida. the united states is our company's largest market worldwide and siemens energy equipment provide secure resilient technologies that support one third of america's total daily energy needs. we have been working with our customers on solutions for the evolving demand of industry and society for 150 years. we've been a partner to the united states government, america's energy producers and energy providers for decades. we have a deep understanding of the safest and most resilient infrastructure technologies and processes to secure one of our most essential national assets. america's power grid. industrial cybersecurity is at the core of our siemens energy business. our products and solutions have industrial security functions that are built in by design and turned on by default. they suppor

siemens will pay more than $16 24% premium from friday's close. shery: let's get you a check of how markets are trading. we are seeing u.s. futures addingng gains up .1%, to that rally we saw on friday. have seen the s&p 500 rising for the fourth consecutive month. more positive sentiment over potential virus relief packages being released in the u.s. not to mention the surge in tech shares. we had the nasdaq composite outperforming with solid earnings from tech giants. apple, now the world's most company- valuable overtaking saudi aramco after posting other than expected results. -- posting better-than-expected results. see negativeo economic numbers out of the u.s. with second-quarter gdp seeing its sharpest contraction on record. rating switching from negative to stable. oil was under a little bit of pressure because of those economic concerns, but we did manage to see a third month of advancing new york. before opec-plus starts unleashing supply to the market after historic cuts. brent crude about $43 a barrel. let's see how things are shaping

annette, siemens shares up what more can you tell us about the numbers today? >> the numbers were better than expected across the board. there is some sort of optimism that the fourth quarter will have a strong result in a conference call, the ceo was reiterating a strong result, despite being strongly impacted by the corona crisis all in all, the corona crisis did see a soft landing for siemens and not a complete crash. nobody knew that back in may when they produced their first and second quarter earnings. so they did better than expected also demand picking up i just asked in an interview whether china is one of the growth areas take a listen to what they had to say on china. in our business, china is actually up. we see higher numbers in demand than we used to see precrisis. that goes all over the place there is a lot of stimulus seeing a strong demand and it seems that it is continuing. the united states, the jury is still out first to get some confidence that they have got the crisis under control as much as they can control it we'll see how it goes, goin

he is the ceo of siemens. firstns us for the interview of the day. credit agricole, how did they do? we did the socgen numbers the other day. how did it look for credit agricole? nejra: overall, they have seen their provisions rise with covid hitting big clients. let me take you through the numbers. second quarter provisions, 842 million euros. the estimate was 775. bigger provisions than expected for the second quarter. second quarter revenue comes in in line with estimates. second quarter net income actually beat 945 million euros versus 720 million euros estimate, and second quarter investment bank revenue jumping 38% to 780 million euros, so basically, credit agricole setting aside more than expected to cover lows after the pandemic hit retail clients and march corporate customers. debtosts to cover the drove down results and some of the lenders most important business units, including the large client segment, which saw a fivefold increase in the cost of risk from a year earlier. just a year earlier. just to note, credit agricole is more diversi

siemens health and here is looking to boost its business in cancer research the german medical tech firm wants to buy u.s. medical equipment maker ferry and for over $16000000000.00 the takeover is subject to approval from barry and shareholders and regulators. let's go to africa now where kenya's flagship airline held its 1st international flight in more than 4 months on saturday as the country eases coronavirus restrictions kenya airways estimates the virus will cost between 40500000000 dollars this year and that's forcing the airline to lay off hundreds of workers and seek government support. of the top it was a day of celebration that nairobi is jomo kenyatta international airport after $130.00 days on the ground kenya airways is flying again the airline kicked off the restart of international travel with a flight from nairobi to london we are extremely excited. to start this because it's been. it's been 130 days since we we did these. airlines are supposed to fly and so we're back to business the airline is planning to serve about 30 international destinations for now the restart al

competitors also siemens embody a our liking behind the merger could help all sterling canadian firm body hold on to the number 2 spot and improve their competitive edge but the deal will come with some restrictions it took revised plans and strict conditions for e.u. regulators to allow this deal to go ahead. will have to divest essentially by selling off some of its own and ball but his assets some of the production sites in germany and france will have to go as well as some of the technology and trade models. size alone can't solve the problems facing european train manufacturers they've long complained that the deck is stacked against them accusing c r r c of receiving illegal subsidies from the chinese government. and while the competition has access to the european market e.u. producers are not allowed access to real networks in china japan south korea or the usa. the u.s. decision to withdraw 12000 troops from germany sent shock waves across the country raising concerns about security and transatlantic tides but for the locals of the bavarian town of 5th sec where a 3rd of tho

siemens has agreed to buy varian medical systems for $14 billion in cash.hat were prisons about a 20% premium to varian closing price friday. alix: thanks so much. let's stay with european earnings. we just heard hsbc today and socgen, and energy names later this week. morris,me now is daniel bnp paribas senior investment strategist. do you think that the bull lackt in europe, does it conviction, or do you feel confident in it? daniel: we are currently overweight european equities, so we believe it does have more room to run. i believe if you look at the macroeconomic background, you generally feel more confident about the ability of eu countries to recover from dependent to the u.s. a we know, valuations for long time remain more attractive in europe than in the u.s., so that if the underlying reason for our expectation that europe is going to outperform the u.s. over the next week is -- the next three to six months. alix: does that going to different sectors? tos it count if you're going go value, energy, or banking? daniel: certainly it can. a lot of tim

and you also confirm that this transition is going to happen sooner at siemens?always been very smooth,at we want a long-term oriented transition. so roland bush will take over the responsibility for 2021. i think that is only logical because they discussed the responsibility and the accountability for the whole fiscal year. he has been a long-term plan which we actually have been announcing already six months ago. had a very long plan. he is the right guy. he is really strong. good managers. i'm happy to see that he is taking the responsibilities and bringing the company to the next level. there is a new generation that we announced yesterday, all the people on the board, and i'm very happy with what i see. nejra: that was siemens ceo joe kaeser. a demand for diabetes drugs weathering the pandemic. ceo, larseak with the jorgensen you -- largest your consent, next. ♪ nejra: economics, finance, politics. has raised its forecast for the years as demand for diabetes and obesity medicines weathers disruption from the coronavirus crisis. the data company, the biggest

nothing unusual about the fact that siemens who was then the director of the dogshit bank which was largelyin charge of the financing of the car into baghdad railway should contact him about the extension of the line from a low. to muzzle has fought that particular strange and he asked him if he would do some prospecting and advise them on what was the best route and he wrote about all the advantages that the best and most efficient relying to follow for the railroad and all the advantages that would accrue from following this route rather than that route and so. after troubleshooting for siemens at deutsche bank he'd made a historic archaeological discovery in northern syria in 1909. it was in a certain sense by accident that he made the greatest discovery of his career that she discovered tell her laugh. because really what he was trying to do was do this prospecting on his own. an officially for the village of baghdad really and she did write he did write a brief to report and devoted many more pages of that the report to route from aleppo to missouri than he did. to that he had discover

siemens is offering a 24% premium over the friday close., where it currently has little presence. reports from london say apple wants commercial landlords to/ransom on coronavirus. rents have been tumbling as the pandemic devastates physical shopping. the appeal comes as apple reports record second-quarter sales of almost $60 billion. reported to have purged more than 30,000 apps from its mesre in china, with ga accounting for 30%. this happened early saturday with about 180,000 apps remaining on offer. developersded game early last month that apps would be removed if they did not meet regulatory payment approval. haidi: bank of america and offman sachs are being left share sales and hong kong because of their work with rivals of alibaba. members are being told they should refrain from doing business with competitors. what is the latest on bank mandates? we are told the goldman sachs is trying to fight for a stronger role in the ipo, and morgan stanley to lead the ipo. taking on a global coordinator role as well. there are still a lot of mo

german health group siemens healthineers says it will buy american medical device company varian medicalfirst major move since healthineers was spun off and floated in 2018 by siemens. microsoft says it's committed to buying the north american operations of the video—sharing app tiktok, and wants to complete discussions with its chinese owners by the middle of next month. this comes as us secretary of state mike pompeo says the trump adminstration is just days away from announcing strong action against chinese software companies that it perceives as a security risk. joining me now is craig erlam, senior market analyst at oanda. nice to see you again craig. this is a really interesting ongoing battle between china and the us, and tiktok is in the crosshairs. do you think microsoft might win in this situation and get the us operations? it certainly looks a high possibility, something that didn't look likely only a couple of weeks ago. it seems to be potentially one of the only solution is for a company like tiktok that wants to continue to operate in the us and elsewhere around the world.

checks by bof a in but the parent company wasn't because it was classified as a tech company like siemens despite being involved in financial services and monetary transactions. never had the access that would have allowed it to take proper supervise reaction. did do what it always does check that the firm is complying with capital market regulations but that wasn't the problem it was fraud there was money missing maybe money laundering we don't know yet there's. a reason so many what we do know is that wire cards accounts were faked regulation of this major dacs listed company did not work resulting in the loss of a lot of money and trust. i've always found financial consultancy is pretty suspect in this confirms why. it's crazy that this could happen here despite all the authorities who regulate these things because what you are saying above i'd say fan and should cover the losses incurred. compensation for stock market losses due to fraud one of several questions to be resolved in the courts where card is potentially germany's biggest post workout inc scandal and one that has investors

one of the greatest legacies that it will have from the from his handling of the outcomes of the siemens aster. well japan continue on its current economic and diplomatic course under its new leader what do you see as successes main priorities now. fact of the matter is japan's got no luxury. whereby you could choose one from the other the options available for japan's future are actually now wrong either on the domestic front or under foreign policy front in the foreign policy. area japan's need japan's need is going to be the same to strengthen ever more the us japan alliance the linchpin of the security arrangement across the region and then has got to invest further into its relationships with like minded maritime democracies such as the steady india and so on support domestically the productivity is the key because japan's declining population is very much incurable at least in the short term and. we're available seat country to grow further there is only one way leapt that is to boost your productivity it which is hard to come by which is the reason why construct conk continuity an

where i'm speaking from chair here where the industry actually call lobster fell to the hands of siemens or for many western companies. where people lost control of the of gunky and i think a lot of people are forming these trends. and the baltics. and even in the most successful companies that used to belong to the eastern bloc like here right now so i think they're following this and they are 'd probably realizing that this is not the way they want to go. maybe. it is still a solar system which. allows people to do no work to help with the eggs they. are getting. losing jobs or losing control over the story of the. political analysts on double check thank you for joining us on the program they. are minsk based correspondent went to a pro look rally yesterday and filed this report idea but just some people are protesting while others are protesting against the protests i happened to meet my university friends here i asked them did anyone make you come out here they said no we are the organizers and i asked the same question to other people at the rally they said they wanted to be heard

today the fda approved two tests by siemens, the tell test patients how many antibodies their bodiesave produced. doctors say being able to measure some of the antibodies will be helpful to learning more about the virus and what antibodies mean to potential immunity. >>> sonoma county is working to get more people tested for covid antibodies. starting today the county is offering antibody testing to people who work in schools. that includes teachers, administrators, one-on-one aides and custodians. the count ways already offering the test to first responders, health care workers, grocery store employees and other essential workers as well as community members who have tested positive at least three weeks ago. >>> the giants' bats come alive again as covid cases shut down more teams. sports is next. it is morning and we know that you want coffee. but we also know that, when it comes to money you want to... not spend any. that's why 7-eleven has 7 cups free with 7rewards. you get the drip coffee you want. for the no money you want. coffee. no money. 7 times. is that what you want? oh,

siemens profit rose 8% in the fiscal third quarter.p in earnings at the software business offset declines in other areas. sales fell less than expected. quicken loans, rocket mortgage trades $1.8 billion in a scaled-down ipo. that fell fast short of the $3.3 billion that rocket companies has aimed for earlier. investors pushed back on the company valuation, and they believe that rocket should be priced as a consumer or financial company rather than as a technology business. rocket is controlled by billionaire dan gilbert. that is the bloomberg business flash. tom: i really want to say the data right now is more than interesting. green on the screen, but that is not the story. yields come in, no question about it that the 10 year yield moments ago broke down to 5.313. atyear bond at one point -- .0012. yen 1.0561. -- at 105 .61. lira unravels this morning. francine: the pound is rising against the euro after the bank of england said it did not plan to tighten policy until the inflation outlook was more clear. we will have a full convers

he is the ceo of siemens. great to have you with us this morning.eal.deal with the $15.4 billion deal with variant. drawn to the idea you did this in cash. how risky is it to do a deal all in cash, $16.4 billion? why did you go for a cash deal? guest: first of all, thanks for having us. of our cashination and equity rates which will follow in due course. rates also create a lift in the tax. we are very certain about this transaction. it is the right time. we are also super confident about it. nejra: great to speak with you this morning. as we speak, we have seen over the weekend tensions increasing between the u.s. and china. china is an important market for varian. how do you plan on navigating those tensions? guest: thanks for the question. take longer, and varian is a global company. is in aotprint in china very strong position in china. it is a unique strength with more than 50% market share. important --mous an enormously important part for china. when it comes to an essential topic like people's health, this will not be an issue politicians co

siemens will buy varian for $16.4 billion. we end with clorox lower today.s in part to sales of disinfectan disinfectant and cleaning products the new ceo will take over next month. >>> time to reveal our mystery stock. the stock is docusign. it's a big ben fir areficiary o americans working from home. >> docusign has been booming as contactless business becomes the new norm saw a huge up tick in popularity and stock price as people embrace digital signatures take a look at shares since march. those are up about 160%. up about 4% today. that rally has paid off for the largest shareholders even after the pandemic, analysts are betting people will be more germ conscious and rather science something over e-mail few people will go back to pen and paper. companies expanding from signatures into the entire agreement process. it's also moving into the remote notary business with a $38 million deal to buy start up like oak technologies. that was announced in july it's leaning into areas like digital document storage a few head winds, competition is one and a notable

siemens healthineers getting into cancer care they're going to buy varia medical. >>> and big tech, appleer solidifying the place in the payments world with a $100 million purchase of mobeewave. they can make payments by tapping one iphone to another. and alphabet buying adt. adt says the deal will combine the nest products with adt's installation and security monitoring services. adt up more than 60% at one point, i mean, yeah, you have apple and going until there we know those are the haves. but interesting to have a health care and oil deal. interesting that activity is happening despite the huge uncertainty out there in the economy. >> for sure. i think among other things, it says that companies have been sort of hunkered down for a few months and most of them who are no longer really in survival mode, they're assessing what assets they have do they need cash? do they want to be open opportunist opportunistic through m & a. there was a drought in deal activity in the heart of the covid-19 shutdown crisis and that's probably getting relaxed a little bit right now also, capital markets

i do see plenty and i think steph did a nice job of highlighting varian with siemens. that's a huge deal the german economic numbers as well as u.s. numbers today that implied that things are getting better when you say august and how is august going to be broadly for the market, apple's had a pretty good couple augusts. last year it was only like 2 or 3% but in 18 it was a 19% jump in august. when you're looking around at how stocks broadly perform in august, i'm sure you're data is spot on, scott as far as individual stocks, in particular, into a launch, for a company like apple that put up these phenomenal numbers, yes, because people were buying a lot more macs and everything else that apple sells because of the sdhou shutdown and remote working for their kids as well as themselves i think we're going to get just phenomenal numbers from many of these tech stocks that continue to hit it and quite frankly, this microsoft tiktok deal, i think that's more defensive than anything else. i don't know that's a significant driver for microsoft. i think that's a defensive de

siemens health unit has agreed to buy varian medical systems for almost 16.5 billion dollars in cashthe health-care industry's biggest deal so far this year. 24% premiumering a t's friday close. a sizable share in cancer treatment where it currently has little presence. and apple is reported to have purged more than 30,000 apps from the store in china with games as 90% of the cull. most of the cuts happened early saturday, apple reminded game developers earlier last month that apps would be removed if they did not meet regulatory payment approval. america's oldest department store is shutting its doors for the final time. lord & taylor is seeking bankruptcy protection through a chapter 11 filing. the company was founded in manhattan in 1826. it lists assets and liabilities of $500 million each in the petition. bought thetart up stores, brand, and e-commerce from hudson bay for $71 million last year. adding to the japanese lunch break in tokyo, a look at what's going on. a couple big stories here with regards to the currency market. the yen at the moment trading on 105.89, below the 1

seeing, again, with the positions in the economy, very much up and running across the gamesaso both siemens that. in the last year or so, we have had weakness from the indian market, with a transition to renewables, but we see that coming back. because there has been such a strong kind of innovation drive within those companies, it is just becoming more and more efficient, and we continue to see gains in profitability within the companies. all right. louise, it has been a pleasure talking to you. thank you for joining us. louise dudley, a portfolio manager. she will be continuing the conversation with anna and myself on bloomberg radio at 9:00 a.m. u.k. time, so if you want to hear more from louise, tune in on digital. you can use the bloomberg app to listen to radio or can use the google bloomberg radio, like probably so many other people do. coming up, as i said, vestas, wind turbine maker, reissues guidance, and it is better than what the street was looking for. we will speak to the ceo, next. henrik andersen. this is bloomberg. ♪ "bloombergme back to market." the european open, and we a

it's too extreme and too obvious as my longtime friend stewart siemens wrote a book about takeover ofie." it's all a lie. coincidentally i got a robocall at home from pro trump organization in washington this evening. they said would you support us, we've got a fight against the number one threat to the united states of america and that's possible mail-in voter fraud. you know, mr. trump has no interest in expanding his base so he wants to deny the suffrage and vote to as many people as possible. i think people are going to not appreciate it because it's aimed right at them. so i don't think it's going to work? >> so speaking of that point about mail-in voting, if we, in fact, see, and we know it's going to take longer than normal to count the votes on election night, if the president does question the results, what's the responsibility of elected republicans in handling or pushing back on that? what do we need to hear from them if that's how this unfolds? >> well, i think we need to hear exactly what everyone said a republican elected leaders when he said let's delay the election. mi