the ft is saying that boris johnson‘s value of sterling.orisjohnson‘s is see if he visits capitals dock macro. the g7. i understand why he would be relu cta nt i understand why he would be reluctant to do that. what is the point in going over to europe only to be humiliated? theresa may had experience of that. will there be red lines? you can lay the blame with theresa may for the way that was handled. what is boris johnson's line? their withdrawal agreement is dead. he has got a set of policies. he is talking tough and europe is talking tough back. i cannot see the point in going over there to try and have talks at this stage. unless there are dramatic things going on behind the scenes it sounds like there is a real stalemate. boris johnson i think would look weak if he was to go over there, be re—bath, could not secure the meetings that he thought he would. he will not do it. what will the evening standard do? the paperback borisjohnson as prime minister. will that continue if there is a definite clear policy heading towards no deal? the

sterling with a 123 print. a number of hours ago, euro-sterling going the other way.t in bitcoin. the bitcoin move is fascinating. we opened a bit weaker. right now, really falling better than expected. 2.10 with the jerome powell announcement. at the no deal brexit risk, i actually want to show that as well. we stock -- we saw the u.s. tariffs take a hit. 10% it rally futures with there at 12.63? cracks and what an important federal reserve meeting. let me show the bloomberg right now. and what an important federal reserve meeting. let me show the bloomberg right now. this shows the "currency." you rarely see a forced standard deviation. these are two standard , and in a matter of days, we have four standard deviations with bitcoin. that does not describe currency stability. it does not. the something else that caught my attention. saw it slide back with the s&p. the real yield, where is the attraction? negative.ield is i think that is something to pay attention to. let's kick off trade. president trump reiterated he could impose more tariffs on chinese imports if he

it is feeding the sterling number, -- beating the sterling never and higher for higher than what it was prior. humor confidence coming in better-than-expected. beating estimates. let me take you over to pending home sales. month over month, year-over-year, pending home sales coming in higher, 2.8%. survey estimate of .5%. pending home sales on the seasonally adjusted year-over-year basis declining .6% drop.

sterling taking over from its competitors. stephen king saying it is sterling versus the u.s.r that is more risk in a no deal brexit scenario. but we wouldparity go down as far as 1.10 according to stephen king. we were taking a turn lower but just fractionally for the major averages. broadcom giving up on symantec, at least for now. symantec saying no thanks. you lower your price and we are not happy. our own ed hammond saying there was something wrong with the due diligence. broadcom took down the price. symantec said no and both parties walked away. it is up 1.4%. symantec down 13%, even though it had been down 1.2%. gilead up 2.3%. citigroup has been waxing and waning all day. broad satisfaction with its results. we will see later in the week what the other big banks report. that is a look at global markets right now. now moving to south africa. more trouble for the indebted power activity. and the price is spilling over to south africa's investment corporation, which manages retirement funds for more than one million government workers. $150 billion in pic. joining us is

can you a vision under 120 sterling? this scenario we heard just plays out but with a hard brexit we have argued sterling could fall below 110 and we have argued that you cancel the whole thing it has been a bad dream, bobby ewing, comes back in the shower and you have 145, 155, you have clear sky above you. you have to choose a political outcome to get a sterling forecast. i am pretty bad at that. i have made horrible political calls and given them up. we think sterling would go under the different scenarios because you can only get three, no brexit deal, hard brexit. sterling wealth reduction for the united kingdom or is that old-style thinking? >> i do not think it is old-style thinking. it,act, the symptoms behind it is not just a weaker sterling in isolation because there you could see positive and negative impacts. it is the reduction in the level of investment. the reduction and the u.k. slowly being phased out at supply chain. it is basically more and more damage to the city of london and the longer this goes on

update on sterling. pound has dropped two year low in dollar terms as traders bet boris johnson will opt for no deal brexit. $1.21, the first time they have slipped below that since march of 2017. we will be watching that closely. pose a from mapfre is still with mapfre is still with us. would you be adding levels of sterling? we would like to see more clarity on brexit. it is not the best way to start a divorce by asking an ultimatum so we see more pain short-term. looking forward, we are considering the possibility of new elections in u.k. and everything is open, so probably, i would not say we will have had -- probably the u.k. could remain. brexit 531pect hard of october. -- by 31 of october. matt: we have a lot to talk about other than brexit. it is important to watch. the pound is interesting. the uncertainty you are expressing is something we hear from almost everyone and it gets seemingly more and more uncertain. to the ceowe speak of capgemeni and we will ask him about brexit as well. this is bl

here is brexit, the weakness of sterling, the leveling of sterling. .91. it is a big deal.rong with our coverage of the federal reserve on this prettily important date. itre is no one better to do with then komal sri-kumar. he has been nothing short of a miracle. gdp growth will not be there, no, rates are not going higher, and yes, the fed will have to act. let's begin with what you got right. why is there a slowdown in the u.s.? how linked is it to the international markets? komal: i would say that the slowdown occurred because there is no reason why the economy should permanently speed up the tax cut of december 2017. it was a temporary sugar height. we had it for 8 -- high. we had it, and now we are back to -- the situation has clearly worsened. i think for the next 18 months, trade will be the story for growth. tom:tom: the hallmark of your work is you're always trying to get out front of the zeitgeist. the zeitgeist is wait for the data. why this time around is chairman powell not wait to see gdp slowdown, not wait to see the inflation dynamic come in? why does he hav

we forget how week pound sterling has been off of brexit. pound sterling has been off of brexit.inr -- covering brexit from the beginning. some of the questions about where boris johnson will take us if he is the next prime minister, but what is the directions -- he will have many priorities, one will be to get a better deal from the eu. >> if he becomes prime minister, a lot of focus on where his first trip will be. usually the roster is between the u.s. and berlin and paris and maybe double in. -- dubline. . they will need to hit the ground running. the clock is ticking until october 31. francine: boris johnson has backtracked to suspend parliament which would be a tricky situation for the queen. >> there are constitutional experts, some says the queen just has to follow the prime minister, others say she only has to follow the prime minister if she is convinced the prime minister has the confidence of parliament. he has a majority of only about coalitionis only in with the dup. whoever the next prime minister will be is vulnerable from day one and i spoke to conservatives and

sterling. i'm not sure how much and there is to a weaker sterling. economic numbers, sterling is 30% undervalued. as i travel around the world in asia for the last two weeks, i'm finding a lot of clients looking at the u.k. because sterling is so attractive to them when they think of their own domestic currencies. vonnie: speaking of outside of europe, what emerging markets look attractive to allianz right now given that we have a lot going on, particularly in the u.s.. 99% cuttingreserve at the end up this month. neil: i think many of us have been forced to move out into emerging markets because of the dovishness from the federal reserve and the need for our clients to hunt or income. -- to hunt for income. many of our clients are navigating idiosyncratic political risks, whether it is the new president in mexico, whether it is the new president in brazil or pension reforms, i think where we find the highest confidence is to look toward india and indonesia where we see the existing administrat

oil prices are rising as is the stirling. —— pound sterling. —— pound sterling.n pound cash injection — that's according to a group of mps. the education select committee found schools were increasingly being asked to deal with growing pupil numbers and rising costs, without adequate resources. our education and family correspondent, frankie mccamley, reports. earlier this month, protest in westminster over school funding. in may, families take to the streets in cities across the country, demanding action on what they call a national crisis in special—needs funding. two months before that, thousands of head teachers in england wrote to pa rents head teachers in england wrote to parents saying that schools are facing a funding crisis. following their unprecedented march through westminster, where hundreds gathered. today, another call for action following an enquiry by a group of mps. we are calling for a ten year plan. the argument is simple. if the nhs can have a ten year plan and 20 billion extra, why should education be the poor relation in terms of public fun

, short sterling, how are you viewing the situation on cable?el: let's break it down by what the models tell us. worst-case, a is no deal brexit. the fundamentals would argue that cable should be trading about 1.17. you should probably get and overshoot on that. the moment,rice at there is a reasonable but not substantial brexit risk priced into the pound. that means when it comes to trade, it makes it difficult from a medium-term macro perspective, political perspective, we want to long sterling, we think it is cheap and there are opportunities that you could get a positive outcome. to be not the time putting on those types of trades, because the risk-reward does not look attractive enough yet. nejra: if you look at the positioning, hedge funds have been boosting bearish bets on sterling. does that have to change to affect the timing of when you put the pound long? michael: the positioning is really important when it comes to trading the pound. the 5% decline over the last two months has corresponded with the market having been long the to thef

david: and the sterling as well, and the euro at 111. >> also. a big level for euro. $1.25.g broke below . a lot of people saying that the hard brexit, it goes too. he. below that would be -- it goes into parity. david: ahead of the fed meeting, we have a chart from you as well. what is the thinking here. is it overextended? we keep saying that, but it goes down. >>>> the macro trend is down. i have a macro target of 1.26% on the 10 year. here, i think the bond market is partially priced in the rate cut. i would not be surprised if yields to up to 2.15% to 2.185%. after that i would sell yields and by bonds. yvonne: so people will sell pretty soon? >> i think there's evidence they are. the markets in the u.s. have discounted this. the bond market is discounted. the dollar is up, it seems to have discounted it. unless you get 50 basis points, the market will sell the fact. david: how much of that is predicated on the sides of the cut? since we talk about bond markets, how is the stock market positioned for whatever fed action we get? we get disapp

well the way to say it is yes sterling does help for exporters it helps not way but really sterling is giving a reflection of what's going on in the underlying economy and what economists believe is going to happen to the u.k. economy so weakest earnings telling you that there's a deteriorating outlook that no deal breaks it comes closer into sight how do you think it could get. could sterling go could there be parity to the dollar i think at this stage probably parity is a little bit too too much to think about. the way that we're seeing it is that you can see sterling sunny approaching the $118.00 against the dollar by october 31st and then if no $122122.00 so that's a small bit further it's been hovering between 12130 level for a while now so we are pushing closer and if we do get a no deal for exit we would expect sterling to push very firmly through that 1000 level and go much lower there's a lot of things around globally which will counteract some of the down depression starting for example interest rate cuts from the fed reserve in the e.c.b. so that may actually keep the sterli

police investigated allegations that sterling was racially abused at stamford bridge in december buttion service said there was insufficient evidence for a criminal charge. but, chelsea say they operate under the civil standard of proof, rather than criminal and after employing lip—reading experts issued the bans. more on gareth bale now. as we told you yesterday, he pulled out of real madrid's trip to munich for a preseason tournament after the club blocked a move to china. make of this what you will. this is a post from bale's instagram account today, in a real madrid kit. last week, real boss zinedine zidane said the welshman was "very close to leaving" having fallen out of favour. here's our sports correspndent david ornstein. the chinese transfer window closes tomorrow, so that deal is completely off. the chinese club have signed theirfull off. the chinese club have signed their full quota off. the chinese club have signed theirfull quota of off. the chinese club have signed their full quota of foreign players because they have just brought in a croatian player so there is no pl

there will be some chances of value by an in sterling and a little bit of sterling strength on the backwe get to september, completely different ballgame. when parliament gets back, we see the risks of no deal go up and down, and volatility will rise. nejra: does any of this convince you to maybe be tactically long sterling, even if long-term, you are bearish? david: no. [laughter] perfectly reasonable position, but as an investor and the way we are petitioning our point -- are petitioning -- are positioning our portfolios, we don't really like the outlook for the u.k. is the two most likely scenarios are either an early general election or any of deal brexit, and in both of those scenarios, i think sterling is weaker. right where i wanted to go. , but's a date calendar out the bottom line is we are headed for a general election. the proverbial at some point, does an investor invest knowing that, or do they ignore it? david: i think if you have exposure to sterling assets, you can't ignore that potential or prospect. you have to think in terms of what is going to be the most appropriate

this the plummeting pound — sterling continues to fall on currency markets — as market jitters grow atrospect of a no—deal brexit. liverpool's lord mayor resigns following complaints about a video he shared containing racist material last night. president trump arrives in jamestown, virginia to mark the 400th anniversary of democracy in the united states. some black groups stay away. people with alcohol problems in england are half as likely to get the right help compared to other areas of britain. it is 5pm, our top story. boris johnson has spent the afternoon meeting welsh farmers who have expressed their strong opposition to the uk crashing out of the eu without a deal. in the latest stop on his tour of the uk he visited a farm in newport and said agriculture could thrive with new trade deals, insisting the ball is now in the eu's court to make the next move on brexit. we are not aiming for a new audio brexit and we don't think that is where we end up, it is very much up is where we end up, it is very much up to our partners across the channel. they know three times the house of com

moreould see 5% to 10% downside for sterling against the dollar in that scenario. but i think the parity calls are maybe a little bit out in the tables for us. in a no it is probably deal decline scenario. vonnie: there's so many little crosscurrents, like even today there is some movement in the yen because there's a little bit of tension in southeast asian countries on trade, nothing to do with the u.s. are there some pears out there that look interesting? erik: euro swiss has definitely caught our eye. you see some gains in that, partially to do with detention we are seeing in the euro zone. depending on how the global risk environment evolves and how the euros in specific risk evolves, how euro swissie could evolve. we see renewed upside the next couple of months. vonnie: what about the emerging-market currencies? today the south african central bank causing a nice little rally for the rand, up 6/10 of a percent versus the u.s. dollar. are there any currencies wells fargo is interested in? erik: we had a rate cut from indonesia's central bank today. it was inte

working in the finance world, people don't necessarily understand the impact of the fall of the sterlings it hurts you personally. it is a reminder when you are going abroad and you see the difference. yorketown does not go so far. and it has an impact on trade. both positive and negative, it has an impact on tourism within the uk as well. it is good and bad. it depends where you are sitting, where you are and what you are doing. all of those i talk to in financial markets have said from the very beginning sterling has been the barometer. stirling has been the way you measure sentiment about brexit. not the ftse 100, because most measure sentiment about brexit. not the ftse100, because most of those companies do their dealing in us dollars. let's talk about ursula von der leyen, who will be the new european commission president, the first woman in that role. germany's defence minister. your thoughts?” have to say, she is not terribly well—known, but she has obviously campaigned over these last ten days 01’ so. campaigned over these last ten days or so. i think she is perceived as a safe

talk aboutnejra sterling.struggling for direction and european equities for love the session. we hit another record in the u.s. yesterday. i talked about it and we moved over again to -27. cable took a little bit of a hit. that was better than expected wage data out of the you take they will seek to remove the irish border backstop plan from any brexit deal. tom: thank you so much. it's a joy to do much of this hour from harris. jean-claude trichet a will join us. it's a moment to stay for europe as we see voting. is the imf managing director, david lipton of the international monetary fund. that barely describes his contribution to american economics. i guess congratulations on your new position. --was an important emotion promotion. right now, we need an update on what your economists see of the global economy. what is the blue book on a july morning? we will be coming out with an update of the world economic outlook in a week or so. we see the global economy is sluggish. investment is slow. trade growth is

it is feeding the sterling number, -- beating the sterling never and higher for higher than what it was prior. humor confidence coming in better-than-expected. beating estimates. let me take you over to pending home sales. month over month, year-over-year, pending home sales coming in higher, 2.8%. survey estimate of .5%. pending home sales on the seasonally adjusted year-over-year basis declining .6% drop. it looks like a consumer confidence beats on the top line. coming a lot stronger as well. is ad know that the s&p little bit lower and that continues to be the case. off by .4%. the big headline number is tech. semiconductor coming in with it is sporting forecast. it is dragging down all of the tech sector. three-month, 10-year. only inverted by -1 basis points. jay powell tomorrow,, he will be happy about that. want to take a look at the financials index. one of the worst performers within the s&p 500. this is after we heard from citigroup yesterday. they are laying off hundreds of global jobs. 80 of those in your london, guy. guy: deutsche bank's front and settle on a story as well

as andrew just sterling to weaken further.just mention of the single biggest issue faced by the new prime minister will be exit. the pound was up minister will be exit. the pound was upa minister will be exit. the pound was up a little overnight as the currency continues as rollercoaster ride it has been on since the 23rd ofjune in 2016, when britain voted to leave the european union. well it reached a high of one against the us dollar the day before that vote. since then it has been on a volatile downward trajectory. in recent weeks, telling thing to a two lowered fears that britain could leave the european union without a deal. earlier, iasked simon littlewood about the impact prime ministerjohnson would have on the pound. the markets are going to be looking very hard at whatjohnson is going to do to deliver his promise, which is that he wants to get a better deal. now, he is obviously heavily committed to brexit and when heavily committed to brexit and when he campaigned for brags that he asserted that it would be very easy

sterling is very much in focus. the pound under some pressure after boris johnson was named the new u.k. prime minister. how much of it period will he have? can he deliver the brexit by october 31? we see the aussie dollar at 69.80. west back bringing forward the rba's next rate cut. they are citing a 0.5% target for the rba cash rate. we saw a move in bonds, yields are down two basis points. away from record lows. the kiwi continuing to see weakness today. we might need to go unconventional in policy tools. david: we were down as much as one for the 1%. -- much as one fourth of 1%. lows. off of two month commodities very much in focus for the bloomberg dollar index. a good month against all of g10. yvonne: iron ore, we are watching it down in singapore. perhaps the imf growth concerns are weighing on them. oil, continuing higher after we saw the stockpiles in the u.s. edging lower here. it is up about .6%. david: you don't see it here, we may talk about it today. beef imports in china are reaching a record after wh

and of course, the pound sterling will be supersensitive.il prices are rising again after tensions in the gulf have escalated. iran seized a british tanker in the straits of hormuz on friday, and libya's largest oilfield declared force majeure after interference by an unidentified group shut down production. 21% of all the world's traded oil passes through the straits of hormuz. it is a critical energy chokepoint. this morning, theresa may will chair the uk government's emergency committee cobra to discuss the next steps and security of shipping in the persian gulf. irans oil exports fell to less than 300,000 barrels a day last month, according to reuters. that is a big drop from the 2.5 million barrels per day in april last year, which is just before president trump started reimposing sanctions as he pulled out of the nuclear deal. it removed about 2% of global supplies from the market. the benchmark brent crude has struggled to hold on the gains it made earlier this year, despite the 0pec producers group extending its production cuts. it p

sterling will turn 81 years old tomorrow.d more than 5,000 games in a row according to the yankees. he's only missed two other games when his sister died in 1989. look at john sterling, vin skully that retired in los angeles after 67 years and harry caray were the three big ones. still some say the best broadcasters in baseball history. after our reporting here, we will have a fox news update on facebook watch. it's a minute's long news cast online with some unique content that streams live on the facebook watch home page a few minutes from now. once it's concluded, it's available any time on demand. i'm trace gallagher in for shepard smith. have a great fourth of july holiday. "your world" with neil cavuto starts right now. >> neil: thank you. the mad dash is on. 49 million americans head out for the july fourth holiday. apparently all at the same time. we're everywhere. welcome. i'm neil cavuto. glad to have you. fox on the top of the holiday exodus underway. we have mike tobin in chicago and jeff paul on lax on how airport

the latest sterling prices not budged on its recent low. that's all the business news.the flooding we had in north yorkshire we have seen some more rain and it is focused on much of northern england. there may be some further localised flooding as well. further south the showers are fewer, they wind is gusty, not as strong as yesterday. the same area of low pressure that brought all that torrential rain yesterday is still sitting very close to northern england and that is where we have the focus of showers or longer spells of rain. you can see that on the earlier radar picture, the extent of those downpours. not as widespread as yesterday. we will see showers coming into wales, perhaps the midlands, east anglia, southern england but not too many. for scotland, the western side of scotland, showers could be heavy and thundery, again the risk of localised flooding. in the south—east it will be warmest, 2a, but 18—20 more typical. quite wet weather again for much of northern england, including lincolnshire. overnight it turns drier and we will see showers becoming fewer an

sterling is really rapidly falling.mediately if you are spending any money overseas, particularly in the us or europe. we are particularly in the us or europe. we a re pretty particularly in the us or europe. we are pretty much at parity with the euro now which has not been the case for a number of years. people would be very well advised to not change their currency within the airport when they are about to step on a plane, perhaps a worse rate that you can getand plane, perhaps a worse rate that you can get and maybe even to get a special card before you go on holiday, perhaps from one of the online apps provided by digital challenger bank which means you avoid your bank charging you 3% non—sterling transaction fee for using your card overseas. non—sterling transaction fee for using your card overseaslj non—sterling transaction fee for using your card overseas. i wanted to ask you about some of those top tips because when you look at it and you say the most unprecedented we are almost at parity with the euro. it will

but of course for sterling based portfolios, in our view the sharpest edge is with sterling., depending on which way things goo, quite a meaningful move in sterling, and quite a meaningful move in our holdings. somewhat perversely, a hard, har d brexit that is there is a -- delivers a plunge in sterling delivers an outsize return to offshore holdings. is going tohandari stick with us, our guest host for the hour. coming up on bloomberg, -- ♪ we're the slowskys. we like drip coffee, layovers- -and waiting on hold. what we don't like is relying on fancy technology for help. snail mail! we were invited to a y2k party... uh, didn't that happen, like, 20 years ago? oh, look, karolyn, we've got a mathematician on our hands! check it out! now you can schedule a callback or reschedule an appointment, even on nights and weekends. today's xfinity service. simple. easy. awesome. i'd rather not. matt: 30 minutes into the trading day, and let's get the top headlines. piling on the pressure. european sovereign bond yields hit record lows ahead of today's ecb meeting, with markets pricing i

to work with the party chairman of the conservative party but to brandon and those who have that sterling work and also those who conducted a very professional operation from home and abroad and also the 1922 executive especially my cochairman is to be a brought inequality way there are all gathered here today what has been a very successful election. like to thank all those party members and despite those challenges i believe have emerged to be the new leader of our party. [applause] so you have all been waiting long enough and even before the announcement for the conservatives and union of those eligible elective 159,320. eighty-seven.4 percent of those ballot papers were rejected and those given to each candidate that jeremy hunt or boris johnson and therefore boris johnson is elected as the conservative leader. [applause] >> fantastic. the oregon --dash to do our values want to begin absolutely formidable campaigner. it was more than 3000 that we did crisscrossing the country you are full of excellent ideas. [laughter] and above all i want to thank our leader to this country. it was a

today on his 81st birthday sterling decided to take a personal day. check this out. he missed a good game. in the tent in a yankees and rays. gary sanchez 461. impressive. the yankees beat the rays 8-4. >>> jays and red sox. will keep as for extra bases. mookie betts. flat out making the play. red sox winning 8-7. >>> indians and royals. frankie. nice turn by jason. the second base. >>> video i believe taken this afternoon. that is really impressive.>>> full flip the length of the better way to cap off july 4.>>> thank you for joining us. happy fourth of july. good night. pameron tucker, you outdid yourself on these biscuits and gravy. they are so tasty, they make you want to slap your mama. am i right, mitchell? sure. if that's a thing, why not? bless your hearts. (southern accent) i'm fuller than a dog tick. hey, just because they do it... it's the least i could do, since you'uns opened your home to me for i don't know how many weeks now. (whispers) three. i just don't get it. how could he leave me? i know. i'm pretty. there's nothing i won't let him do in the b-e-

it is very much the bias toward sterling moving lower from here.ive news out of the weaker pound, though. as anna points out, aston martin said a weaker pound helps their business. it helps with a lot of british exporters. is this a reason to be optimistic for the u.k. economy, or is it a reason to be concerned about rising inflation? benjamin: i think it is not a reason to be positive about the u.k. economy. one of the things we have seen -- aston martin's comments today over the past three years or so, we have had sterling weakness. what has happened to the u.k. trade deficit? it has widened over that period. it is not as if u.k. exporters are picking up extra business as a result of the weakening pound. the trade deficit is at his widest -- its widest. it does -- we are seeing weaker inflation coming through on our online measures of inflation. please expect tomorrow's inflation report to suggest weaker levels of inflation in the u.k. but longer-term, we could see a pickup. it is relative to the rest of the world higher levels of inflation but n

this is the pound sterling.n trade is waking up to further headlines around no-deal brexit and what would oris johnson's consensus be? we're on 2.09. the yield a bounce off those lows. what does that mean for the global economy and the negative rates narrative. we'll talk about that later. the european equity market a little weaker as well. let's see how the european equity markets open up. we're also focusing in on the earnings story of course. we have a number of earnings reports. they will react to their underlying performance. to the extent they are hit by the trade wars, the global slowdown. this is the picture as we get the equity markets opening up. the ftse down 1.2%. as is the spanish ibex. we wait for the german and french market to open up. the auto sector also really in focus today. we're talking june e.u. car registrations. financials fairly mixed. healthcare looking overly green. areas of red, consume discretionary. a very mixed picture going on here, matt. matt: yeah, absolutely. looking at swedis

sterling brown was appointed as the editor of the office of negro affairs in washington, and it was hisi would say unenviable task to review all of the copy sent in, all of the submissions sent in from different state directors and state and local offices, anything pertaining to black history and black culture identity. he and his small staff were responsible for reading through it and trying to correct some of the worst stereotypes or worst misrepresentations of a black history and identity. contrasting objectives and thoughts about what the project was really about. >> and then how was it perceived by the american people? whose story was told? prof. stewart: that's what was fascinating to me about this collection, and something that has stymied scholars, if you will, they're always running up against the amount of diversity in the collection. so if you look at this collection or browse it online, there are a lot of narratives from former slaves that might surprise you. they talk about the good old days of slavery, or benevolent masters and mistresses. then you also have come as you mi

a chelsea fan has been banned for life after abusing raheem sterling ina life after abusing raheem sterlinghelsea have taken matters in a match in december. chelsea have ta ken matters into in a match in december. chelsea have taken matters into their own hands. stradivarius won the goodwood cup under frankie dettori to claim a third successive victory in the race. the five—year—old, trained byjohn gosden, made it eight successive wins and became only the second horse after double trigger to win the two—mile prize on three occasions. india is threatening to boycott the commonwealth games in birmingham in 2022 — because shooting has been dropped from the programme. it's a sport that india excels in — at last year's commonwealth games in australia, they took 16 shooting medals — including 7 golds. india's concerned that its ranking and medal haul will be affected if birmingham gets its way, as dan pallett reports. in india, they love the sport of shooting and they are good at it. they hosted this world cup event in february but now the starting gun has been fired in a row which could see indi

sterling is also down against the us dollar to around one dollar 22 cents.ort is travel writer simon calder. simon, if you do end up at the airport and try and get money out, should you get it out at the airport 01’ should you get it out at the airport or should you wait until you get to your destination? well, certainly, i wouldn't advise just turning up at a uk airportand wouldn't advise just turning up at a uk airport and asking for money. so 100 euros, which i prepared early, thankfully. i was at the terminals at europe's busiest airport earlier andi at europe's busiest airport earlier and i was told to buy 100 euros, it would cost me £117. and that would make £1 worth just 85 euros cents. at gatwick last night, $1 was at parity with that pound. change £100 and you get $100. much better to plan in advance and click and collect. and certainly, if you are going to any of the countries with a so—called exotic currency, that includes the turkish lira, the croatian ku na and includes the turkish lira, the croatian kuna and the very colourful russian ruble, do

sterling traders are braced for big brexit swings ahead.two years. investors are piling into contracts which pay out if sterling fluctuates wildly in the run—up to the halloween brexit deadline. kathleen brooks is with me. let's start off with the pound because it is on a fairly steady downward trajectory. you could argue it has been for the last three yea rs. it has been for the last three years. brexit is kryptonite for the pound and it has been for three yea rs pound and it has been for three years and when we get these flare—ups, real concerns this week about a hard brexit and potentially an election, that has caused the pound to fall. it has had a little bit of respite early on thursday morning but what we are seeing is it is struggling to recover. we have retail sales data out of the uk soon and if that is strong we might see another rise in the pound but the trajectory seems to be lower. we think even economic data does not matter with brexit uncertainty. think even economic data does not matter with brexit uncertaintym the wider con

and right now, in terms of sterling and cable, they tend to agree. terms of brexit but the u.k. political makeup. but was that certainty is established, it will be upside from there. but when is the trigger? scarlet: when is the trigger? that has been the question for a while now. that everyone is to prepare for a no deal brexit. what about the corporate sector and the u.k.? >> the business lobby came out pretty strongly over the weekend to say that from their perspective, a no deal brexit is impossible to prepare for fully. the government is very determined to say it is possible. the fact that they've come in to office. coming into turbocharge, the preparation suggests they have a lot of work to do to be able to carry out that policy by the end of october. i would suggest there is still time for momentum to shift on that. nevertheless, the moment and the messaging is very much giving way. looking at without a deal. >> what would happen in order for the second referendum to happen? what is the tipping point? very hard to see a second referendum witho

sterling has steadied a little against the euro and the dollar this afternoon. a bit of a phoney war going on with stirling over the last six months but now they seem to be bedding into this idea that the prime minister is serious? i think the weather has changed since boris johnson serious? i think the weather has changed since borisjohnson has become prime minister, and this is a person who said only a few years weeks ago, the chances of leaving with no deal is only one in a million but his deputy said this is now the government's working assumption, so the flip—flopping between one and a million and working assumption has released book market so we are seeing the new normal. i don't think we are at the point where they are saying, he definitely means that, it will definitely means that, it will definitely happen, but if we end up on first november leaving without a deal the pound sterling has a lot to fall. they are talking about £1 ten, even parity between the pound and dollar. and it is interesting to think about the currency as like the share price of a co

vonnie: on sterling? mervyn: i do not know where exchange rates will go. when i joined the bank of england. what i would say is it is a mistake to think of exchange rate in isolation as judging the strength or weakness of an economy. it has to be seen as part of an overall package of policy members -- of policy measures and would influence the u.k. economy. forgetng we should not is the u.k. has a large deficit. i do not think that will be sustainable. is inly, that sterling trade terms a lot stronger than many people think. it is only a few percentage points lower than it was when i left the bank of england in the summer of 2013. guy: there are some that may get jobs on the fomc that think a return to the gold standard would be a good idea. let's go back to the bretton woods conversation and talk about that. would it be a good idea? mervyn: the bretton woods system broke down in 1971, very simply, because two big countries, the u.s. and germany, had different attitudes toward inflation at that point. the u.s. putting a major war in vietnam felt that infla

so quite a defensive tilt there for the sterling this morning. and finally a look at u.s.three major indices looking at a weaker start. yesterday marked back to back a losses for all three major indices. as i said of course the fed largely in focus this weekend, investors are waiting the key comments from fed members. >> and let's talk about europe christine lagarde's nomination as president of the ecb came as a surprise since she is not an economist by training. she is expected to have a similar stance on policy to her predecessor recently saying that it should remain accommodative where inflation is below target. the former ecb president backed lagarde for the role saying her previous positions have left her well prepared for the ecb. >> she's been minister of finance and she's been for almost eight years managing direct are tore of international monetary fund. it looks like it is a very, very good training in my opinion.or monetary fund. it looks like it is a very, very good training in my opinion. i'm sure that she will do it bell not only because she has knowledge and

celebrated at the tv festival right before sterling k.t scenes for the upcoming season and the cast explained what make's maisel so "e.t." bing worth binge worthy. >> maisel goes down smoothly like a fine wine. >> people like to spend time with these characters. >> especially rachel. >> yeah. how can you take your eyes off her. >> even if i wasn't on it, i'd binge it, too. >> incredible cast, writing top notch makes it binge worthy. >> easy to fall in love with mrs. maisel the 1950s housewife who turns to stand-up comedy after her husband leaves her. >> great. i am a mother. >> we'll use it. >> i love period pieces and it sometimes feels like we've gone back in a time machine or something. >> it's about two hours. maybe two hours and change of hair, makeup and wardrobe. >> the sets and costumes are magical but another reason to give maisel a try. from writer/producer amy sherman-palladino who also gave us gilmore girls. >> unapologetically -- can do it in heels. >> in times where herif know, w boi point to not let her crumble. >> cross ou

. >>> sterling drops amid concerns over a no-deal brexit with boris johnson tipped to become the uk'sinister. >>> let's look at european markets. we're about 1.5 hours into trade. it's a positive morning coming together for the stoxx 600 as you can see, all major regions trading higher the uk index trading about a half percentage point higher today. just about 1.5 hours time we will hear and get confirmation on the tory leadership contest boris johnson widely tipped to take the helm of the conservative party we're seeing the ftse move higher along some renewed sterling weakness. the dax is the front-runner across europe. up nearly 0.8%, boosted in large part by the auto space where we saw some major moves across the auto suppliers we had continental profit warn, but the market was positioned for weak numbers we are seeing some moves higher across the auto space. let's look at uk grocers sales at the uk's top supermarkets fell compared to the same period last year. a heat wave boosted sales in 2018 during the same period. total grocery sales declined for the first time since 2016. we'r

we had that big plunge in the currency yesterday sterling down 1.5 percentage points. that gives somewhat of a boost to the ftse 100. today the results are the index is being lifted a bit by those bp results we were talking about. that we also have bank of england on thursday xetra dax trading a bit weak we talked about bayer and lufthansa dragging it down and we had the cac 40, second quarter gdp numbers came out slightly weaker than expectations the ftse mib down 1% now actually we're a good 50 poin0 s lower than where we were when we went into the ecb meeting last week switching to for keign exchange. all the focus yesterday was on the pound. cable 1.2160 we dropped four big figures in four days. a lot of damage is going on in that space looking at cftc positioning, the market is short in this currency weakness persisting in asia as well we are about 0.4% weaker the market is coming to terms with the no-deal possibility on october 31st given the latest cabinet formation and the rhetoric out of the european government euro is still flattish the yen is firmer. the big

today's fall in the pound leads tomorrow's financial times — as sterling hits its lowest level sincerch 2017. the times leads on the same story — with traders warning that sterling could fall further in coming weeks as the possibility of a no—deal brexit looms. the guardian says that a lack of clarity from the government about whether or not a no—deal is the main working assumption tomorrow's daily express says borisjohnson is refusing to meet eu officials until the irish backstop is scrapped. in other news britain's youngest convicted terrorist has been granted anonymity for life according to the daily telegraph. the paper says it's to stop him becoming a poster boy for the so—called islamic state group. victims rights campaign groups want ministers to review the decision. the daily mail reports that a former high court judge says police broke the law in falsifying evidence to obtain search warrants in their investigation into the claims made by carl beech — who was jailed last week for making false allegations of murder and child sexual abuse against public figures. boris against p

moved to safety while others are being warned to prepare for the worst and gallacher reports from sterling. on the can i pin incident the swan lake fire has been raging for a month officials say in recent years these kinds of fires have become more frequent and persistent but alaska is also in the midst of an unprecedented heat wave that shows no signs of abating local firefighters and emergency staff are being reinforced by so-called hot shot crews from across the u.s. conditions are monitored by the hour in order to tackle what is now a massive blaze this is a case of prioritizing where people and infrastructure is basically exactly also what's good for the environment and what's safe for firefighters that's always going to be our number one priority. on the ground staff are stretched thin and have been on the front lines of this blaze for weeks videos posted by crews fighting to control these wildfires showed just how difficult and dangerous the work is we came across the book valley firefighters a crew made up of native alaskans from remote communities who are vital and highly trained

julian: against sterling? francine: or euro.n: let's throw sterling into the mix. 1.30 -- year and -- year end, 1.30. the market may be surprised that there may not be another cut this year. i think that is very dependent on the trade talks, i really do. francine: you think it would be good or bad? julian: who knows, because it is how much either side will give. thep needs to get agricultural products being bought or something on huawei. that is a very difficult call this congress does not want them to do so. francine: will have plenty more to say on trade and the u.s.. coming up, less than 48 hours into his premiership, boris johnson's demands for changes to the withdrawal agreement are rejected by the eu. ♪ ♪ francine: late delivery. . amazon misses estimates and disciplines forecasts. amazon web service also comes short. deskn secretary of state secretary of state mike pompeo says he is willing to travel to tehran. and, the e.u. immediately rejects ellis johnson's demand for a better brexit deal. jean-claude juncker says the

sterling is remaining at a two—year low. first michelle with more on the fed. to talk about monetary policy during his two days of testimony before american lawmakers. but he may not be able to steer clear of washington politics. wall street will be listening closely to see if the head of the us central bank offers any clarity on interest rates. powell and his committee meet at the end of this month — that's when they will decide whether to cut interest rates or leave them where they are. but after a strong june jobs report, that prospect is dimming by the day. remember, a rate cut is used typically to stimulate a faltering economy. still, an equally important message may have little to do with monetary policy and everything to do with mr powell's commitment to keeping the federal reserve as an independent body in the face of complaints and threats coming from the white house. as recently as sunday, president donald trump asserted that the dowjones industrial average would be up to 10,000 points higher if the fed cut rates. while on tuesday, white house economi

politics front and center there when it comes to the sterling moves.e stabilization around the 1.24 mark now this morning also some stabilization in the euro, currently trading around the 1.12 mark. let's look at european equity markets and see where things stand a couple hours into trade. we have negative moves for uk, german and french stocks et l italy bucks the trend. last week a strong week for italian stocks we had that big relief triggered on the back of the european commission's decision to delay action creating a lift for italian investors. beyond that some moves lower for european stocks. let's look at u.s. futures yesterday u.s. stocked snapped their winning streak largely on the back of president trump casting doubt on the progress of negotiations between the u.s. and china saying there's a long way to go on the trade front we got a number of corporate earnings in focus. banks in the u.s. yesterday. some more today and tomorrow looks like we're in for a bit of a rebound at the start of trade today. >>> you and i were just talking about cent