microsoft and morgan stanley. both of them bouncebacks and i think it's one of the great things the late andy grove talked about the 90-day period and what can happen in 90 days. take a look at what gorman and na dell did and this is a reasonable period. >> fixed income has proved to be a good area for this quarter for the financial institutions that reported earnings and we've heard from all of the big guys at least. they've cut 25% of their staff earlier this year at morgan stanley. people may forget, they had a significant layoff there. part of, of course, cutting expenses. they're still focused on cutting another $1 billion by 2017. >> i know. i didn't think it was -- to me it says they were fatter than i thought. >> in expenses. >> what's most interesting, david, i've been on these devgss, work on the fixed income desk and looks like there's way too many people and then a big chunk of business that comes in and it wasn't like they had to turn it away. they didn't have enough people. they were overstaffed. i t

this is as morgan stanley has cut that.d analysts are pointing to as a victory for the company. it is commenting on some of this on its conference call with the cfo saying the bond staff cut it not constrain profits. morgan stanley shares are rising 3% this morning. we are also looking at earnings from abbott labs, medical device maker buying two of its rivals. they are also topping analyst estimates because of rising andnd for medical devices generic medicines. profit from operations fell but still came in above estimates in revenue rose by about 3%. staying with health care, we are watching valeant. it's an fda approval for a new drug to treat digestive problems for folks taking opioids related to chronic noncancer pain. begin sales of those tablets in the third quarter and though shares are bouncing by 4.5%. now let's go to the nasdaq. >> it's all about microsoft this morning. a great quarter beating top and bottom line estimates by 19%. it's huge driven by strength in the cloud. ce in the pcgen business. saw strong sequ

ellen zentner of morgan stanley.is bloomberg "surveillance." ♪ guy: i am guy johnson in london, tom keene in new york. let's talk about what is happening with the financials right now. the italian banks still front and center. watt. with ewen cameron buts depressing for banks more depressing for some than others. let's talk about what we saw -- what we have in europe. are we going to use the famous european political word fudge? the point of the italian market, if you are going to let the bonds go that is a problematic moment. the second issue is, is the european central bank going to allow italian banks to be europe's lehman? and essentially being put out of business, i doubt that as well. the answer to the question is bring on the fudge. billion the price tag for bringing on renzi in the referendum? ewen: that is certainly the price that is losing. i think this is a really interesting political calculus right now. but you can say that this is a material, for italian households, and for europe as a whole. tom: when

stanley checks it out. >> stanley: no worries children are not on my list today what is is this. the two airbus the driver is doing what drivers do best in a drive by two or of the painted lady at alamo square. only one small problem that in 2013 the band plays on tour buses. let me show you the sign is posted around the area off. tour buses and vans the seating capacity of data more prohibited. >> stanley: residence not even aware on the van and had a mixed feelings. >>: for someone who lives here i would like to easily get in and out of my home, it's a great place to share. >> stanley: a huge tourist destination many people show up the see the house from the family is from full house live- in only one problem it was not where they lived that is a different part of town. they're a >> stanley: the to us to drop off passengers one block away from almost where i have to do is walk. you can also taxi override sheriff me or even one gas powered cars just off the bridges and yes that have happened. if you operate a tour bus brush about locations where you are not banned. not the only

. >> stanley: >> steve: hear from the victim. >> stanley: the next addition of people behaving badly later in tonight's edition. >> gary: bad news for giants fans regarding pence. more sports later in tonight's broadcast. for the seventh time this year there has been a crackdown on the peninsula. >> vicki:officers from all around were are targeting trouble spots in an attempt to cut down on traffic related deaths. >> steve: but where were they this time stanley roberts takes a closer look. (male announcer): now, here's stanley roberts who found some people behaving badly. >>the reason i stopped you on the top of that hill when you were coming around that s turn you were doing 40 miles an hour so you realize it's a posted 25 >> stanley:this driver was just pulled over by officer grant from the colma police department except were not in the city of colma . for me to explain what's going lets rewind the video >> stanley:here is the car coming don't the hill in pacifica and running lidar he is part of step which stand for san mateo county saturation traffic enforcement program, its traff

before the bell we'll get word from abbott labs, hall burton, morgan stanley. and american express, ebay, intell, qualcomm and mattel. don't miss an exclusive interview with james gorman. that's on squawk on the street. >> one not to miss. as we mentioned intell is reporting it's second quarter reports. >> reporter: the sfreet is looking for intell to earn, but beyond the numbers. here are three things to watch. first, pc demand. most analyst expect outlook for the market will improve following better than expected shipments of notebooks in june. intell accounts for the largest portion of the revenue. could lead to a rally in the stock. take a look at the shares of intell. they are up more than 9% in the past month. a second indell data center group says this is key and should be better as it comes off much yeaeasier comparisons. it is a growth business as it continues that transition to the cloud and last but not least investors expect intell to chach a big porks of the mobile chip business for the iphone 7. >> thank you very much for that. another big compani

. >> kron 4 news >> the back story >> aaron: so, the morning stanley had his stroke.got a phone call. >> aaron: and, it came to me saying, that he was going to the hospital. >> aaron: and, he probably had a stroke. >> aaron: i called the person back and was confirming it and figured out where he was going to the hospital. >> aaron: and, sure enough, stanley had had a series of strokes that morning. >> aaron: and, was lucky to be alive. >> aaron: lucky that his friend was there to help him out. >> aaron: myself and the assistant news director got in the car and were down there within an hour or so of stanley going to the hospital. >> aaron: and, we sat with him for several hours while, the doctors treated him. >> aaron: it was really strange to see someone have a stroke while you sit next to them in the hospital room.

stanley cup that you guys won. >> go kings, 2016 stanley cup >> you're a big hockey fan?yes. >> you watch every game? >> season tickets. >> everyone's very excited here in l.a. about the stanley cup victory by the l.a. kings last night. you catch any of the game? >> they didn't play. >> okay. well, you're smarter than a lot of other people out here today. [ applause ] >> jimmy: we'll break him eventually. don't worry. are you familiar with kids bop? you know what that is? that album. [ applause ] really? you're clapping for that? anyway, well, we put together a new kidz bop album with help from some famous hip-hop artists like this. >> here go my song "today was a good day." kidz bop style, bitch. ♪ it runs so deep, so deep ♪ ♪ so deep >> jimmy: you get the idea. when we come back the music of asap rocky as sung by children and my exclusive chat with baby steph curry and baby lebron james. stick around. we'll be right back. the fourth line is free. switch today. ♪ flo: [ ghost voice ] oooo! [ laughs ] jaaaaamie, the name your price tool can show you coverage option

if you look at the beta on morgan stanley, the cost of equity is much higher for morgan stanley.ng it. you can see the banks are still operating below. you have a jpm that has done it. you can see that their price book is roughly -- they are running right at their price book. goldman sachs at .9. we are not there quite yet. tom: brad hintz is with us, and we will talk judicious expense control on "bloomberg ," and we will continue with "bloomberg surveillance" on radio. ♪ . ♪ jon: morgan stanley tops estimates on the top and bottom line. two shares underperforming in premarket trading. manager turnset to the hedge fund world. >> donald trump is formally the republican nominee, we will recap a second night in the republican national convention in cleveland. ♪ david: welcome to bloomberg . live from the bloomberg headquarters in new york city. a lot of news to cover. , includingings numbers from morgan stanley that broke moments ago. stocks surging almost 2%. jon: a british prime minister, her first question time, let's listen. >> employment at a record

morgan stanley beating the street.n the news strong performance investment banking coming to help the firm's bottom line. looking at that stock to open up about -- >> that should become -- which is down which is different from other banks. >> we should also tell you james gorman will join "squawk on the street." that's going to happen at 10:45 eastern time. also microsoft shares beats the street driven by growth in the cloud business. also s.a.p. posting better than expected quarterly results. strong growth and high margin packaged software licenses. >>> and new this morning, the justice department has filed a lawsuit seeking to seize billions in assets allegedly diverted from a malaysian government investment fund. the fund known as 1-mdb is a sovereign wealth fund set up by the company in 2009. multiple individuals including some malaysian government officials conspired to fraudulently divert billions from the fund. >>> other stocks on the move this morning, abbott labs reporting 55 cents a share. that was 2 cents as

>>here is stanley roberts who found some people behaving badly: >>stanley roberts: that is called a ticketn the fly it happens here at the corner of second in harrison just about every commute evening some people think signs that read do not block intersections or no left turns are simply decorations around town so they ignore them. >>stanley roberts: all you have to do was follow instructions and pay attention to the assignment it means to the patrol officer would not chat with few the postal service will take it from there one driver turns from the right another turns illegally from left all why playing against the party from to talk the driver will be getting one of these letters and a few weeks but just to wonder. >>catherine heenan: meantime and just keep coming the latest on some at the start choosing to stay in hotels rather than brand new $100 million olympic village in sports will check in on how the giants is doing after one and seven road trips and the a's came in tonight since the all-star break. >>robin winston: >>catherine heenan: as they arrive at the olympic village there a

>>here is stanley roberts who found some people behaving badly: >>stanley roberts: but to understandhis one-sided conversation where in the city of los altos on like every other city is infested it has to do with this fine place to right smack in the middle of the street it reads of the lot across the lines of the colts lost out to as much as the cold there's also the california vehicle code for the same law back to the pri's driver his right smack in the middle of cross all the double yellow lines is quickly map of the office about a lot of the los altos police department was octuplets patrol main street pretty regularly it's not wise to behave badly. >>stanley roberts: even parking and for some of the to get involved as can drivers of the no crossing over to the reliance then this happens she said she was not from around here choose from santa cruz the fine for crossing over the double yellow line to $25 with court fees in jumped to two runs in $23 however since the dismissal or violation. >>stanley roberts: the next then enslaved appeared at our service or broken and the all were

>> yeah. >> but it was another patient who transformed the brothers' mission, for it was joel stanley who brought paige figgy the marijuana that was just right for her epileptic daughter, charlotte. >> we had what she was looking for, a type of plant, and i went to her house and i started talking to her and charlotte had two seizures want first hour of us sitting down talking. this became very real, but became a very difficult question, will you make something for my child who is already very sick? >> charlotte figgy was first person to get the oil the brothers made. >> what are you going to watch on here? >> paige says it stopped her daughter's seizures. >> say i want mini pop pop, please. >> now, having hired botanists and scientists and built a lab, on a large scale they're making the very oils the virginia families want to give their children. they even named the cannabis oil after their first user, it is called charlotte's web. >> ready? >> ready? >> the oil was so effective, the figgies eventually took charlotte off all her meds and to this day, charlotte's web is all she takes.

(male announcer): now, here's stanley roberts who found some people behaving badly. >> stanley: and theext addition of people behaving badly up next! >> vicki:the san mateo county enforcement program. also know as step. talked to over 100 drivers in pacifica and half moon bay during a their monthly crackdown. >> steve: and stanley roberts talked to some of the drivers in an effort to get their side of the story. (male announcer): now, here's stanley roberts who found some people behaving badly. >> stanley:when someone is caught speeding you sometimes need to get there side of the 40 in a posted 25 and i asked him he didn't think there would be a cop around >>not necessarily it just the fact that wanna save the brakes so im like pressing on my gas i mean my pedal lightly most of the time so you wanna save your breaks i mean in not more like im tryng to go as fast im pressing on the breaks hard as i can but not too hard . >> stanley:oooo kay it turns out he was also missing a few things . valid registration and no proof of insurance oh and i give him a quick lesson on how to drive down hi

>>here is stanley roberts who found some people behaving badly: >>stanley roberts: the back rows of san jose has great use of rolling hills just do not look down the could you see diapers and bottles of soda and that is just for starters it was dumped on the road in the section remained loyal to question you can see some of them like the share there was a sign but news from fish and wildlife and it was regarding approaching not illegal dumping the only no sign at the fine was here across the street from farm. >>stanley roberts: you'll find matches is furnitures and more all don't ruin the area it amazes me how they carry it out and dump it what it be in the city or on the countryside more is rolling up our brand new perks program we talk to a military expert about the fireball was last night. male announcer:this is the bay area news station,kron 4 evening news starts now. >>reporter: brand-new tonight a woman and menlo park try to improve safety along one roadway right near her home that is what a new school opens this fall more kids to crossing over the road map to lead to problems >>c

so we sent kron 4's stanley roberts to find out what's going (male announcer): now, here's stanley roberts found some people behaving badly. >> stanley:if you're in the mission and you are driving on mission street .you are goingto see red and may even more red driver making an illegal u-turn now on the stretch of mission from 13th street to ceasar chaves tjhere are not red transit lane that's for buses, taxis , commercial vehicles and bicylist >> stanley:but you add those restictions to a busy are bound to find some people behaving badly . so sit back roll it if you because there's a lot going on i'll use mission at cesar undivided attention yes that means you in the lexus . if you drive a personal car could be subject to getting fined >> stanley:unless the lines are broken like .here then you may enter if the signes read you must turn right, then you must turn right . these drivers apparently didn't get the memo or read the sign >> stanley:also there are no left turns on mission but look what my dash cam caught a big driver ignoring the no left turn signs . then i caught him going a diff

have you ever thought about all those years ago, if your people had just killed stanley?ger fish like this one, it's going to the market, considered way too valuable to eat. but today, guests. it's a mean looking fish. >> ogi: she used to sell fish in the market. >> anthony: the congolese standard, limboke. it can be pretty much anything wrapped in a banana leaf and steamed. >> ogi: a typical tradition. >> anthony: excellent meal. >> pierre: yeah. ♪ ♪ >> anthony: a lot of work. well, it looks like they're not having an entirely miserable time with it. that water looks good. on a good day, how many like this? > > anthony: 50? >> ogi: yeah, 50. >> anthony: right, hundreds of them used to come, yes? >> ogi: oh yeah. >> anthony: well, things get a little better here, maybe they'll come back. >> ogi: i hope so. >> anthony: i hope so, too. ♪ ♪ >> anthony: after leopold, the belgian government took over and pretty much continued as before. an apartheid-like system of what's mine is mine and what's yours is mine. by the '50s, there was a beautiful modern infrastructure built, rai

those working stanley roberts takes. >> stanley: no worries children are not molest what is is this a boss. but in 2013 a ban place onto buses a seat capacity of eight or more prohibited. now some residents were not aware there was a band and had mixed feelings, >>: new lives here ahead key like to get and none of my home at the same time it is good share. >> stanley: many people show up to see a house the family from full house would then only one problem that they were not worthy lived that is a different part of town cubs in blocks away there is a place to drop off passengers one block away from almost where you just have to walk or taxi over the chair to take me any need or even when apollo gaspar cars to step up the bridges that has happened. the operator to airbus suggest you brush of publications we're not banned not the only one behaving badly apparently assigned said this

stanley roberts heads back out to los altos. after people responded to his first piece. and. we've got a message from police. to people who play the new popular game 'pokemon go'. while behind the wheel. that story at 8:45. >> steve: germans what the arena. what to think of the most distinguished days about the to. >> reporter: i think a family affair is one of the things chris christie's speech is another. the roll-call of states happened earlier in the evening state-by-state the we ought to york state that could donald over-the-top his son announced that his father had enough votes to be the nominee for president let's listen. . >> reporter: of the state was christmas day ad tech speech against hillary and summer foibles of fuel with real scandal. it will really be a big story tomorrow night and on thursday is it the trump speech because evolve leave the, these things that said that speech will be very important to a fall campaign. then came the revelations of plagiarism. donald trump is reportedly privately furious that his wife lifted whole passages of her speech directly

morgan and stanley group, it sets the bar high for morgan stanley. >> don't forget bank of america.t went and checked the numbers before and. what is really interesting is equity trading is in mind for the last year or so. this that wet should be looking at. equity might be a little bit. it could be higher, it is not going to be the bustout. unlike bank of america, equity is just as important to versus goldman -- bank of america. at thisnt to look because that is where they draw a lot of revenue from. everything we have seen so far, that number has been down. maybe it has been a little better than analysts expected, because if you remember analysts pullback expectations after brexit. analysts had pulled down estimates to much, and we might see this for goldman. david: when you look at the expense side -- >> it will be interesting because we had a couple rounds of cuts, about 400 people cut from goldman's or. that includes in the trading operation. , we are at one report seeing 16% year-over-year confidence down. alix: we have a earnings coming out right now. is -- bottom line, it ne

we are joined by former morgan stanley wealth management president greg fleming. welcome to the show. let's talk about the brexit. do you think it was a good move for the uk long term? gregg: unfortunately for england and the uk, it was not a good move. you look at 18 to 32-year-olds, and many of the people in the manufacturing districts voting to leave. it shows in england and the united states and other developed economies. we need to do a better job of working with the people displaced by globalization and technology, getting them retrained and into jobs that they are happy with. anthony: is it just retraining? i feel retraining may not be enough in certain circumstances? >> the global world, the technological innovation, the speed of change. one of the things i would like to highlight, if you look at the developments 50 and 100 years ago, things like the lightbulb and television, how long it took those things to become mainstream. from the time you could buy a lightbulb in the store to half the united states being lit in their homes -- by the was 50 years from

i am pleased to welcome back to "squawk on the street" stanley fischer. vice chairman of the federal reserve. good to see you as always. >> good to see you, sara. >> we got that better u.s. manufacturing number but, of course, we start with the brexit. what was your reaction and going through your head when you saw the referendum results last week? >> i saw them at 2:30 in the morning in europe and i decided i better go back to sleep because it didn't look that good. didn't look any better when i woke up a bit later. first reaction was surprised but extreme surprise. >> does it change the u.s. economic outlook? >> we're going to have to wait and see. it clear ly is a huge event for the uk and important event for europe. our direct trade with britain is not -- is not going to make a huge difference to us, but it could set off a lot of things that will follow from bex for europe for the united kingdom and those are the things we have to be thinking about. >> like what? what are you worried about specifically? >> how quickly does the british economy reach it

today we'll hear from morgan stanley. lower second-quarter earnings at the investment banking revenue to fall sharply. we hear from intel after the closing bell. the world's largest chip maker expected to report our quarterly earnings. revenue expected to rise by nearly 3%. looking for higher revenue when it comes to america next rest. a report second-quarter results after the closing bell. showing signs of recovery after the last cobranding deal with costco. lauren: coming up, it is official. donald trump wins the republican nomination. the city of cleveland is raised in the period >> game seven was correct. what the convention is for the cleveland economy. the heat wave continues to sizzle across the country. fox meteorologist maria molina will tell us if there's any relief in sight. checking in on u.s. stock index futures. dow futures higher by 71 points. they close at their sixth record high in a row yesterday, up nine days in a row. we haven't seen a winning streak like this since march 2013. s&p futures and nasdaq f

of san francisco stanley roberts kron 4 news. >>if you've seen people behaving badly in your neighborhood let us know. you can contact stanley on facebook, twitter or email hiim. people-behaving-badly-at- kron-4-dot-com. (male announcer): this is the bay area news station, kron 4 news starts now. >> in oakley." >> vicki: the past are also affected by the fireworks they get scared. >> reporter:martin gutierrez has three dogs. but this black lab isn't one of them. >>sot- you found a dog in oakley? yeah, i found it in my backyard." >> reporter:martin says he found the frightened dog, shortly after fireworks hit the sky near his home in oakley monday night. >>sot- "i posted it on facebook and nobody has responded, so i brought it in here because i can't have him at home." >> reporter:contra costa county animal services in martinez is taking the dog in. along with 32 other stray dogs and 17 cats dropped off here the day after independence day. >>sot- "it is typically our busiest day of the year." >> reporter:50 animals lost and not ye

morganrgan chase and stanley collectively set aside money for employee pay by 70%.ra keller has been looking into the numbers and joins us now. why are the banks pulling back so much? >> you almost always see some kind of cutting on the compensation line. that is what we are seeing now. david: i wonder if folks on the street i wondering about this. are people worried about this being a long-term thing? i think you don't like to see . it is an industrywide thing we are looking at. these are still very high averages for these investment banks. goldman sachs put aside 170,000 with the cut. multiply that by two and you are still around $350,000 on average. is there a ratio, a percentage they want to get to? linethink banks have a where they need to consider that because if someone else will pay you more and you are at morgan stanley and morgan stanley did willabout this a bit, they have some bankers who may go to another shop. it's everyone across the board and these are some of the largest investment banks. david: you has spoken to executive recruiters as well. how muc

stanley, hats off to you, steph. stanley black & decker, monster good quarter. that still works for me. >> technology. do we like tech? microsoft? there's been qualcomm. >> cisco. >> cisco, ebay, a new high. >> how about the chips? the run, rotation of the chips? >> oh, my -- >> today chips having a good day. >> and one of the areas talking about. texas instruments, what is it? not just about phones, everybody wants to talk mobile, about auto and the rest. go through chips, xpi. many names not just tied just to apple. there are other areas. >> where it all ties together and from a macro standpoint, think of the risk most talk about it's china. is china so bad? two g20 meetings. had two this week. no one's talking about it. semi-s, the way they trade. can china be so bad the way las vegas sands is trading? >> and my personal hero -- >> has been absolutely incredible. timing. unreal. >>ed to you. >> told you. >> got big and bigger entire way up. >> i like it. las vegas sands. year over year, two years. >> yep. >> now i know greg hayes was a little negative on chin

but where were they this time stanley roberts takes a closer look >> stanley: the reason i stopped you on the top of that hill when you were coming around that s turn you you realize it's a posted 25 this driver was just pulled over by officer grant from the colma police department except were not in the city of colma . for me to explain what's going lets rewind the video here is the car coming don't the hill in pacifica and here is officer grant running lidar he is part of the month crackdown know as step which stand for san mateo county saturation traffic enforcement program, its traffic officers from all around san mateo county including the california highway patrol and the san mateo county sheriff's office >> stanley:this driver was stopped for not wearing his seatbelt on the yellow this driver was cited by a city of san mateo officer for doing 68 in a 45 on highway 1 back to officer grant he also caught another driver going faster than the posted speed >>:your speed when you came around the s turn when i got my first line of sight of you was 42 miles per hour posted speed limit 2

roberts. >> most of us know stanley had a stroke a webex we visit him. he has been doing his thing but that's a classic episode will have on sunday night. >> so glad you joined us tonight, have a good evening and have a good weekend. >>> ♪ i'm working when you're sleeping. a lot of moms come in nervous. they look at me and say i can't believe i did this. and i say i told you you can do it. it's just a normal thing that happens at 3:23 am. and you finally get a minute to yourself, to just... phew... breathe. i try to live a healthy lifestyle. and lean cuisine is really changing it up so i can eat the way i want to eat. feed your phenomenal, with lean cuisine. >>> bond of widows. celine dion and kathie lee gifford. the heartbreaking moment everyone is talking about. >> we have had quite the journey. >>> we're going to wynn november! thank you all! >> now it's hillary's turn. >> the stage is set for the democratic national convention in philadelphia. >>> and donald trump's mini me. way past his bedtime? >> ivanka trump. >> secrets of ivanka trump's wardrobe

>>here is stanley roberts who found some people behaving badly: >>stanley roberts: so let's look aheadly if you would return to cross the bay bridge and the biggest and did little cell phone this woman was on her phone while putting on makeup when she was done with her make up the tissue when flying out the window there so many ways to use your cellphone and be out of pocket textile small driving is a sure way we sure she got pulled over she was looking at a map to many people holding their stones another form is putting on makeup although recent study shows their acid down the impact of this employee a mascara and you hit something your airbag deployed is crossing over the software. as from the pawn and could lead to a ticket even if you have cash in hand. >>stanley roberts: remembered as a toll plaza is still a freeway no backing the because you and pay attention to read all the signs before approaching but the biggest and most expensive violation is or is using the carpool lane illegally desire was called on interstate 83 people are required to tell was not to give for the carpool l

roberts. >> most of us know stanley had a stroke a webex we visit him. he has been doing his thing but that's a classic episode will have on sunday night. people love my portobello mushroom buttery jack, made with portobello mushrooms, grilled onions, and garlic herb butter. ever wonder how i came up with it? well... actually, i came up with it at the water cooler. but i thought you'd like this cowboy story better. the portobello mushroom buttery jack is back. part of the buttery jack family. taste it before it's gone. ♪ ♪ hush my darling... ♪ don't fear my darling... ♪ the lion sleeps tonight. [snoring.] ♪ hush my darling... [snoring.] ♪ don't fear my darling... ♪ the lion sleeps tonight. [snoring.] take the roar out of snore. yet another innovation only at a sleep number store. >> announcer: the following paid presentation for cooper chef is brought to you by tristar products incorporated. are your kitchen drawers starting to look like a bad garage sale -- steamers, rice cookers, roasters, slow cookers. and just how many pots and pans does one kitchen

. >> but where they were, well, stanley roberts was there as well. >> reporter: here is stanley robertsome people behaving badly. >> i talked to you about this coming around that turn at 40 miles an hour. it is supposed to be 25. >> reporter: this driver was pulled over by officer grant from the koma police department. but we are not in koma. let's rewind the video. here is a car coming down the hill in pacifica and officer grant. he is part of the monthly crack down for san mateo county's saturation traffic enforcement program. it is traffic officers from all around san mateo county including the california highway patrol. this driver was cited by a city of san mateo officers going 68 on highway 41. back to officer grant. he also caught another driver going faster than the posted speed limit in pacifica. >> your speed when you came around the s turn. 42 miles an hour. >> reporter: then there was a driver of this plumbing van. he wasn't speeding, he wasn't on his cell phone and had his seat belt on. but there was a problem with something on the band. >> the white bar you have across the

>>reporter: sometimes temporarily blocks can and of getting in the way >>here is stanley roberts whond some people behaving badly:. >>stanley roberts: it is a temporary trends rich, of san francisco not one but two more the same signs at the entrance to the terminal you find a greyhound of ac transit and other bustlines the park just outside the terminal as well drivers that ignore the do not assign do with the driver does and drives around in circles once a vehicle into the locker is only one way out is not uncommon to see drivers from the lot as the buses only, but sometimes the drivers don't make it into a lot this driver active figured out he was on the restrictive roadway sat there for one minute and then there was this driver who ignore the note turned nixon was a sign then realize he cannot go any further make a u-turn to go in the opposite direction my personal favorite is this person who drives on the wrong side the entire time reached the end of the road it now has to turn around according to bus drivers this is an everyday occurrence apparently not for some drivers it woul

stanley fisher said if the markets get it right.et right what central banks will do then if they get it wrong you have to readjust quickly. are you confident that the market is getting this right? >> i'm not sure that the market is getting this right. if first quarter growth numbers were weak. we saw gdp up to 1% which is half of the average growth rate we have seen over the course of the recovery but if you look at that may payroll report it's very bad but when we think about what's going to happen in june we expect a nice bounce back. and there's questions as to how it will effect the u.s. i think the economy is fine. we'll see a little bit more inflation than people expect. that leaves at least one fed hike in the cards for later 2016. >> just to pick up on that are people getting comfortable with the idea that we're going to inflation and rate of expectati expectation. and if you're looking at a situation, and further easing. and that's interest rates in japan and that's got the u.s. as the only safe haven asset in the world. th

he is with morgan stanley.ext hour, let's call it the litmus paper of "surveillance" this morning, adam posen joining us as well. a bit ofon and from cooling in new york, this is bloomberg. ♪ you.we welcome all of the best of economics, international relations. francine and london, i am tom in new york. she showed up for work for the bloomberg business flash. anheuser-busch missed estimates. the world was the largest beer maker was hit by a downturn in latin america. major shareholders of seb miller said they support the takeover offer. .32 per shareed $1 for your amazon shows it consistently makes profits while making big investments. they reported second-quarter earnings that beat estimates. at the same time, amazon is planning on bigger delivery to beat retailers like walmart. meantime, amazon's cloud computing services are creating a bigger share of profits. second quarter profits plunged at barclays. $1.4 billion loss from selling off or winding down assets. ceo says they were dealt a blow by the u.k. voti

>>stanley roberts: stanley roberts kron 4 news.: 19 people killed the new information we're learning about the attacker getting those numbers around 80 in the early afternoon mixing out mostly sunny and warm afternoon of the places will be hot we will be right back. right back. right back. ♪ ♪ as long as you love me, anyit's alright. ♪e. ♪ ♪ bend me shape me, any way you want me. ♪ shape the best sleep of your life. sleep number beds with sleepiq technology adjust any way you want it. the bed that moves you. only at a sleep number store. >>reporter: probably until friday we will get a break this weekend. >>reporter: the numbers at this hour where an 77 the to the more fairfield, a 71, east of a shoreline or '60s territory 60 a san jose, san francisco next and hours and 97 by 1:00 p.m. 101 upper '70s territory and the coast looks good all this week. >>robin winston: nothing major right now hot spots are gone a lot of crowding into san francisco not as solid as it was before you're getting a little bit of a break off a little bit of

according to morgan stanley, it is a dystopian economy, according to matthew hornbach.s forecast to be more bullish than just about anyone else. treasury we yields -- treasury yields will fall to 51 basis points before the first quarter of 2017, he says. also, steven wieting. you are the black cloud on wall street's silver lining right now. you see things fading enough that bond yields are going to go to levels we have basically never seen. matthew: i do not know if it is a black cloud for investors and government bonds, but we have had a tremendous rally so far this year. the 10 year has fallen, and we expected to fall another -- we expect it to fall another 25 basis points before the end of the year. the issue is the global economy. our economists are expecting global growth particularly in the g 10 to suffer over the course of the next couple of years. g-10d 1.9% growth in the in 2015. that will fall to 1.4% this year, down again to 1.2% in 2017. we have global economies slowing in terms of growth, and we think core inflation will remain below central-bank targets. t

morgan stanley think it will lose 0.5%. we can see just how much the u.s.dds with the rest of the world. you were speaking about japan. still negative territory. that is the blue line. the purple line showing us where germany is currently trading. we have seen a slight pickup in those yields. u.s. have more then japan and germany? do you see the negative yields remaining for the rest of japan and germany unlike? >> both the central banks in europe and in japan are offering themselves negative short-term interest rates. that has had an impact further up the yield curve. we used to think traditionally that the u.s. was the kind of determineplace to yields and the rest of the world. aredevelopments elsewhere driving down yields. in the u.s. think about it. one of the consequences of having negative rates elsewhere, the u.s. is importing deflationary pressures from the rest of the world. it cannot raise rates as much as it would like to. because it cannot, it also triggers downward pressure on 10 year yields. guy: very briefly, where would you expect the u.s. 1

a strong quarter for mornings damning -- for morgan stanley . roman pimco names manny as its next ceo. what it means for the next generation at one of the largest bond firms and the biggest public we traded hedge fund. vonnie: donald trump officially becomes the report and for the 2016 presidential election. -- republican nominee for the 2016 present election. what he has to do to avoid the missteps. let's head straight to the markets desk where julie hyman is looking at what is moving. like a newooks record for the s&p and dow, but have been struggling since the open to hold onto the gains we have seen early. the dow is up 16 points and s&p gaining a little more than three points. the nasdaq is the big winner today with gains of half of 1%. you are seeing a clear divide and a clear push by tech which is higher, mostly from microsoft, which we'll get to in a moment. on the downside is energy. we are seeing a decline in oil prices. they took off on the downside at this morning here. the dollar is higher today. we are getting the weekly inventory

. >> pam:but it also is offering a dish of bad behavior, kron4's stanley roberts explains. >> stanley: (male announcer): now, here's stanley roberts who found some people behaving badly. >> stanley:as the tour buses pour onto twin peaks, changes are being made as i speak >> stanley:there will be new rules to follow and old rules to break allow me to explain it's being called the twin peaks pilot promenade it's a two year test which will change almost everything you know about twin peaks >> stanley:as the signs go up . so will the sighs, from motorist mostly the regulars and some tour companies. but for the pedestrians and the bicyclist they an area free from cars, buses or trucks but they get a fantastic view >> stanley:and there will be a zero chace of your car getting burglerized because there will be no cars but there are important thing to remember, first off the roadway that use to be one way is now a two way and bicyclist still are permitted full use of the new lanes >> stanley:also the stop sign at twin peaks and christmas tree point is not new so it should not be ignored by an

we are joined by former morgan stanley wealth management president greg fleming. welcome to the show. let's talk about the brexit. do you think it was a good move for the uk long term? gregg: unfortunately for england and the uk, it was not a good move. you look at 18 to 32-year-olds, and many of the people in the manufacturing districts voting to leave. it shows in england and the united states and other developed economies. we need to do a better job of working with the people displaced by globalization and technology, getting them retrained and into jobs that they are happy with. anthony: is it just retraining? i feel retraining may not be enough in certain circumstances? >> the global world, the technological innovation, the speed of change. one of the things i would like to highlight, if you look at the developments 50 and 100 years ago, things like the lightbulb and television, how long it took those things to become mainstream. from the time you could buy a lightbulb in the store to half the united states being lit in their homes -- by the was 50 years from

>>pam moore: >>here is stanley roberts who found some people behaving badly: >>stanley roberts: painted to the man of the bicycle of emergency exit and then he is the garbage and to toss something way and his into the emergency exit and down the escalator to the board type form then there was this man and sue tie it entered into the emergency door and stopped to take notes. >>stanley roberts: and said almost because there are few exceptions this man his bicycle into the emergency exit and all the other writers and always in the possession of course if you carry the thousand dollar fixing oslo and as a director are a couple of issues in the and it is a for all have embarked card are fair about your views of this is wrong with a contrived a middling their thing and is questionable. male announcer:this is the bay area news station,kron 4 evening news starts now.

>> steve:especially if that someone is kron-4's stanley roberts here's what happened when he visited-m-v in the east bay. (male announcer): now, here's stanley roberts who found some people behaving badly. >> stanley:hey how you doing im over here at dmv in city of el trusty ipad here and were going to do some called pbb were going to the test that are on the dmv but i also added a few trick questions to see how people do >> stanley:two sets of double yellow lines two feet apart means you can cross them there there's no double yellow lines two feet across how long you been driving let me see >> stanley:while he thinking about that lets ahhh look at some other people >> stanley:when you see two sets of double yellow lines to or more feet apart that means hurry up and cross true or false >>yes >>you think its true >>ah ha hmmm why >>because it yellow so yellow means you can cross >> stanley:how much is the ticket if a cop see you driving barefoot >>no idea i drive barefoot all the time >> stanley:how much is the ticket for driving barefoot in california i do not know the answer to that

>>here is stanley roberts who found some people behaving badly: >>stanley roberts: also fueled track record to see how people do two sets of the line's main his ok to stop and read like there was a polka mom on the screen. . male announcer:this is the bay area news station,kron 4 evening news starts now. >>reporter: set to take the big stage of the democratic national convention he will address the nation on why he believes the real clinton should be the next president

roberts explains (male announcer): now, here's stanley roberts who found some people behaving badly. >> stanley:the backroads of san jose have great views of rolling hills. just don't look down because if you do you will see used diapers, empty bottles of soda and that's just starters this stuff was dumped on mc with the main road in question bailey avenue in san jose >> stanley:you can't always see what bailey avenue has to offer if you're crusing by too fast well i take that back you can see some of the stuff like the faux leather chair or how about these things. like home furnishings tucked away under a tree yes and this is what's left of this flat screen television . >> stanley:there was a sign. but it was from fish a wildlife was naned fish and game and it was regarding poaching not illegal dumping in fact the only no dumping sign i could find was here right across from a farm so on one side they are preparing to plant crops and the other side of bailey ave is a problem area >> stanley:which includes solar powered motion detector lights to scare away people at night . and while