here is taylor riggs. ow to the british prime minister's brexit negotiating strategy. david davis and his deputy have quit in protest over her plans for a soft exit from the eu. davis says may is putting the u.k. in a week negotiating position in brussels. he will be replaced by dominic route. may says she has cabinet backing for keeping close ties with the eu after leaving the block. majoris describing floodwaters. at least 110 people have been killed and 80 are missing. 23,000 have been forced into evacuation centers. companies including mitsubishi have shut down factories. the weather is expected to improve this week. u.s. secretary of state mike pompeo is brushing off north korea's criticism of the date new -- of the denuclearization talks. north korea has continued to support giving up nuclear weapons. have korean officials called the meeting gangster like. in brazil, a series of judge ease have raised the stakes for october's presidential election. a blocked in order to release a former president from

briefing,eed a news here is taylor riggs. esident trump's refusal to condemn russian froming -- meddling came both ends of the political spectrum. that schumer suggested vladimir putin may have damaging information about president trump. the minneapolis fed president doesn't buy the argument that this time it's different when it comes to the yield curve. he wrote in a blog post there are few signs of overheating in the economy. he sees little reason to raise interest rates further and further. the fed chairman may given update on his thinking when he testifies before the senate today. theresa may's brexit strategy is in turmoil. now she is infuriating pro-european members of the conservative party. she agreed to rewrite her plan. the majority in parliament has been cut to three votes. her defense minister has quit the government. china, the government is trying to curb speculation in the property market. home prices increased at the highest rate in 21 months. they rose 1.1% from the previous month, the fourth straight increase

let's get to first word news with taylor riggs. taylor: engines of leading economies fall out of sync. g20 finance ministers and central bankers said at a statement published at the end of their two-day summit that global growth remains robust and emerging-market economies are better prepared, but risk to the global economy has increased. steve mnuchin moved to calm his counterparts' concerns. : this is very important set of communiquÉs, but don't over analyze one sentence and be concerned. we understand what the trade issues are, and we are trying to productively deal with them. presidentxico's new includes president trump to a range of issues, including trade, migration, and security. he added that prolonged uncertainty about a new nafta could hurt investment in the medium-term and long-term. yields debt market saw surge on media reports of possible changes, the ultra-loose monetary policy that spurred the central bank's offer out of operation. produced as much as six basis points in early trading, its biggest increase in almost t

i'm taylor riggs.s is "bloomberg best," your weekly review of the most important business news and analysis from bloomberg television around the world. monday, investors awoke to the results of the presidential election in turkey. >> rested tayyip erdogan won a mandate to government sweeping powers after a victory in presidential and parliamentary elections. the nation's longest serving leader took 53% of the vote. what does it mean for the turkish economy going forward? >> it is another critical step for president erdogan who has been in power for 16 years, and is looking to extend that power. in the first round, the expectation was it would go for a second round but that did not happen. there were claims of vote manipulation. we will see what kind of measures the election commission takes, and will be done about economic policy, will the government move away from the expansionary aggressive easing and more towards reform and austerity measures to rebalance the economy. david: on friday, treasury secr

let's go to taylor riggs. first 10 to outcome from last month's summit with president trump and kim jong-un. north korea has released the remains of some of the americans killed in the korean war. that comes on the 60's bit anniversary of the armistice that ended the fighting. president trump is enthusiastic about the latest data on the economy coming out today. the president spoke at a steel mill in illinois yesterday. numbers will be announced tomorrow sometime. i do not know what they are but i think they will be terrific. we took over and it was heading lower, a lot lower and it was going to be there fast. a bloomberg survey says the economy rose 4.2% in the quarter. the options on brexit are shrinking for theresa may. rejectedean union has a key part of her proposal for a trade deal. now she has just 12 weeks to go before the divorce deal is supposed to be signed. the uk's chief negotiator they stay inside the eu's customs union that would enrage may supporters. the central bank has again offered to buy an

there is taylor riggs. ident trump has triggered a major showdown over the future of the supreme court. the president has nominated brett kavanaugh to fill the retirement of justice anthony kennedy. if he is confirmed, that could make it the most conservative court in a generation. democratic senator chuck schumer says he will oppose kavanaugh with everything he has. roseroducer price index 4.7% in june, but analysts expect that pace to slowdown. in western japan, officials say 134 people have died from heavy rains, flooding, and mudslides. more than 50 people are still missing. the rain has now stopped. thousands evacuated have returned to their homes. isturkey, president erdogan following through on his pledge to tighten monetary policy. he has issued a decree giving him the power to name the head of the central bank and its governor. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg

here is taylor riggs. taylor: china is accusing the u.s.ing the largest trade war and economic history, and it is striking back. president trump began imposing tariffs on $34 billion on chinese tariffs just after midnight in washington. beijing responded by imposing tariffs on products such as soybeans. that could lead the u.s. to hit with more tariffs. secretary of state mike pompeo is in north korea where he has to make sure that kim jong-un's nuclear commitments lineup with president trump's promises. kime have been reports that kept wrapping up his weapons production before the summit. lobbyist will be afterief at the epa serving as the number two at the administration for two months. muska sending a team of engineers to thailand to help rescue the boys soccer team stuck in a cave. they could help by trying to pinpoint their exact location or providing heavy-duty power packs from tesla. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor ri

m taylor riggs.k you so much. let's do equities, bonds, commodities. it's a quiet day. the curve is steepening. the euro is strengthening, that's an underlying theme. we will talk about this in a moment with oil getting a lift. the vix was 17 showing the better equity markets. there 111.out we are very much in the news, the weaker chinese currency. that has been tangible. asia, dxy is at a number we normally show. this is the dollar index for asia. we will show that chart here in a moment. what you have this morning? guy: i think you're right about was happening with the chinese currency. they are trying to stabilize it. the turkish lira is very much on the move. there is an upside on cbi's. it was the ppi number the caught my eye. both of those numbers will put pressure on president erdogan. european stocks rally up a little bit this morning. china rallied into the close. is half turkish lira way back from the weakness we saw a number of weeks ago before the election. this is asia dxy. we say good m

here is taylor riggs. reportedly 's justding new icbm weeks after the summit with president trump according to the washington post, which sites u.s. spy agencies. the trump administration reportedly may bypass congress to give a $100 billion tax cut mainly to the rich. according to the new york times, the treasury department is studying whether it can use regulatory powers to let americans count inflation when it comes to capital gains taxes. the bank of japan is staying the course. boj governor kuroda pushed through changes to the radical easing program to push for sustainability. japan's central bank is preparing for a longer struggle to stifle inflation. the bank are betting of england will raise interest rates this week for the second time since the financial crisis. the market is pricing in a 90% chance of a 0.25 point hike thursday. the economy is lagging behind its peers. that could give the central bank an excuse to hold off. credit suisse is giving investors reasons to stay with the bank through th

here is taylor riggs. taylor: european union preparing to strike back against american tariffs.itparing a with protective measures. visit failed to persuade president trump. the pound it could be hit hard, there is no brexit deal. falling as 80% against the dollar if the u.k. doesn't reach an agreement with the eu by the time it leaves next march. only a 20%y there is chance of a no deal brexit. the federal reserve says economic growth in the u.s. is holding up. a survey says manufacturers are concerned about tariffs, some it's a new trade policies have led to higher producer prices and supply disruptions. employers are concerned that the inability to find workers is holding back growth. unilever feeling the impact of a trucker strike in brazil. growth,orted sales missing estimates. the ceo. >> what we say to the market is, first half is a slower. second half, faster. this quarter, little on the lower side because we have to deal with an enormous trucker strike in brazil. we run the business longer. taylor: global news 24 hours a day on air and @tictoc on twitter, powered by mor

tom: right now with our first word news is taylor riggs. p is escalating the trade war. the u.s. has moved ahead with plans to impose tariffs on additional $200 billion of chinese goods. tv components and refrigerators will be affected. the aging calls the move totally unacceptable and says it will be forced to retaliate. president trump is also in brussels just before the start of nato summit. the president called germany a captive of russia. he said the pipeline is something nato should look into. conservative lawmakers opposed to prime minister theresa may's brexit planet are considering a. radical move that could bring down the government. the giroux skeptics who want a more decisive split from the eu have only one choice left, and that would be to vote down the treatment andal that could lead to an early election. thisidding war over company is heating up. -- rupert murdoch bodies the company at $32 billion, 12% more than the offer made for comcast. the fight for sky is part of a wider fight between comcast and disney. eyes in england m

here is taylor riggs in new york. ylor: as we mentioned, facebook shares have slumped after the social network reported second-quarter sales and user growth that fell short of analysts production. the company also told wall street the numbers won't get any better this year. >> this is a critical year for facebook. we may progress preventing abuse, forged ahead with new innovation, and are adapting our services to the new trends. they have finally given investors the share buybacks they had been demanding. the anglo dutch energy producers says they are starting a $25 billion share repurchase around, two billions in stock. but even there estimates fell short of even the lowest and -- analyst estimates. >> a commitment to divest $30 billion worth of assets. part of it was debt, but importantly, to upgrade our portfolio. we are essentially done, just putting the finishing touches on it. but we will deliver by the end of this year. daimler's profits declined after failed momentum for its mercedes-benz luxury cars slowed. th

here's taylor riggs. taylor: china has availed a boost the policies to economic slowdown.s was after the state council in beijing. aimed ata tax cut spending and special bonds for infrastructure investment. there will be a more flexible response to external uncertainty. donald trump has warned he may -- he made the talks at the white house. >> the european union has been very tough on the united states, but they are coming in to see me on wednesday. we will see of we can work something out. otherwise, we will have to do something with the millions of cars they send in. taylor: there could be intervention on a takeover of british companies. ministers are outlining proposals to widen the scope in which they can intervene in deals over national security. to examine 100 deals this year and that would take half of those. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries, this is bloomberg. i have taylor riggs. francine: thank you so much. they are trading higher after earnings and more positive picture of the outlook. that'

taylor riggs got a different way to illustrate what was going on in 22 countries. or: the bloomberg terminal tells an interesting story. we are talking about russia and the united states. yieldted in blue the u.s. curve and the russia yield curve in white. that is the difference between the ten-year yield and two-year yield. in blue, you have the u.s. yield curve. that has been flattening. the fed has been raising rates on the short-term because the economy is doing so well. yield. in the white, you have the russia yield curve. we spoke with our chief economist. he says, this really has to do a lot with the trade tariffs and the weak credit profile of russia. divergence is the name of the game at a time when so many people are talking about convergence. up next, the lonely death industry. the little-known ceo in charge of the future of hewlett-packard enterprises. ♪ jason: welcome back to "bloomberg businessweek." i am jason kelly. carol: i am carol massar. you can listen to us on sirius satellite radio and in boston, washington, dc, and in the bay area. jason: and

here's taylor riggs.rmakers are making the case against tariffs on the trump and -- tariffs by the trump administration. they argued that imposing tariffs on imported cars will cause irreparable damage to global business. british prime minister theresa may is trying to keep her divided cabinet together and unblock the stalled brexit talks. she is proposing a compromise plan for a trade deal with the european union. ay's goal is to bridge the divide between leaders in her party. mentioned, the new populist government in italy wants to show financial markets it is not backing away from its agenda. finance minister tells bloomberg's first budget will tackle tax cuts and universal basic income. italian bond markets were initially rocked when the populist coalition took power. special counsel robert mueller is getting reinforcements to expand his investigation into russian election meddling. bloomberg has learned that mueller is making more use of career prosecutors from the justice department, as well as fbi

in new york city, here's taylor riggs. ent trump is under pressure from american lawmakers to confront vladimir putin at today's meeting in helsinki. the event takes place three days after a grand jury indictment of a dozen russian intelligence officers over meddling in the 2016 election. president trump told cbs news he may ask putin to extradite the agents to the u.s. the leaders will meet one-on-one with only the translators in attendance. the trumppredicts administration will reach agreements on trade before congressional elections in november. the bank called u.s. trade actions "brutal" and said they have punctured trust built up over decades. still, citi expects trade deals to be complete in the next few months, good for commodities such as soybeans and copper. officials from the u.s. and north korea are meeting to discuss the return of remains of american soldiers killed in the korean war. the u.s. called the talks "productive." northntagon estimates remainsill holds the from the war that ended back in 1953. there's

jason: we talked with taylor riggs. ylor: he is making changes that are likely to endure for a couple of reasons. one is, a lot of international commerce has to do with trust. it is not just the words that are in the trade treaties. or the phrasing in the wto. it is the sense that countries have that open borders, and free trading is good from both sides. if that trust goes away, you feel like the other party is trying to hurt you, and it can cause a corrosive damage that is not reversed easily. and then you have the fact we are entering the era of nationalism, which started before trump came into office. we see it in brexit, for example, the italian elections, all around the world. trump is rolling a boulder downhill. it is quite easy to do. pushing that boulder back up the hill toward a more globalist world, much harder. taylor: it is interesting you use that because we talk a lot bout tailwinds and headwinds. when trump was elected, there was excitement about deregulation and tax reform. some of the headwinds were ign

i'm taylor riggs. and i'm scarlet fu.rade and the supreme court comes as president trump heads to europe next week. remedies defense minister spoke to bloomberg and an exclusive interview and talked about the upcoming nato summit, as well as germany's dance on trade. >> we have the question, who is contributing what? are imported to nato, of course. if you look there at the facts, germany is the second-largest troop contributor to nato in afghanistan as well. or, for example, the second-largest net payers. i think you have to have a balanced look over who is doing what, who is investing what, and in the very end, in this summit, it is about unity. we are defending the same values. we are sitting on the same side of the table and it is about resolved. we are determined to strengthen the alliance. was your initial reaction to that trump letter to the chancellor? the letter, it was a letter we expected because as i said, we have set since we decided on it with president obama. so we are on a good way and i think it is import

right now with the immediate briefing we cannot not go to taylor riggs. esident trump has made a rare retreat from something he said. said he jumped to conclusions -- he accepts the conclusion by u.s. intelligence agencies. that came after a backlash from republicans with his meeting with vladimir putin. still, the president said other people also could have metal. there is likely to be more drama in brexit parliament as may faces prime minister's questions and boris johnson could signal whether he intends to challenge her. may supporters are under fire for the tactics they used in parliament on her brexit plan. willuropean commission tout eu countries they better be prepared for a no deal brexit. alondon newspaper says document urging the country to boost their brexit contingency plans could be published tomorrow. they'll be the day the new brexit negotiator visits brussel. google is about to set a dubious record. bloomberg has learned the european union will find the the most ever for an antitrust penalty. -- global news 24 hours a day, on air and @ticto

i am taylor riggs. this is bloomberg. meanwhile, euro risk rages on. bonds of a selloff after a rift between the government and the finance minister. he may be forced to step down. now, there is a selloff in the market. they say it is pure invention. >> you can see how sensitive the market is to these things. the reports this morning were quite clear. there was tension between the finance minister and the two deputy premiers. this rattles the market. caroline: in terms of whether or not there is a risk, reminds us why this is important to the market, that the finance minister remain in place. he is a voice of reason. kevin: that's true. some people call him the grown-up in the room. he notes how much money the government can spend. he is an academic who will try to enforce everything. the people around him may have different ideas. caroline: what is the rift about? he wants something the five-star movement doesn't want. kevin: he wants to live within his means. he said they will go forward with the flat tax and the income support for the poor. it's a m

joining us now with more is taylor riggs. f the weakness we see in the share prices is that they said they would have to increase incentives. and the stronger dollar is creating headwind on this transaction going abroad. overall, the earnings report was positive. if we take a look when it comes to credit card growth, we have a chart here for showing credit card growth. customers feel good about taking on credit card growth. the volume is now raising by 12%. 2017-2second quarter of thousand 18, we started to see higher volume. that was good for growth. so fuel and debt fueled the stock today. vonnie: what about overseas growth? taylor: they are making a big push into europe. i merrily a region based on that the cards. they did complete the acquisition of europe two years ago so they are finally starting to see the synergy and the cost cuts are coming to fruition and going forward they are making sure they get into the credit card push and not just a debit card push will be a priority. vonnie: thanks to taylor riggs for the stoc

q to tell us more is taylor riggs. : strong results really across the board, showing they can shrug off some regulatory concern that investors are worried about them particular, they came from the avenue revenue perspective here we have a chart showing had revenue at $28 billion for the second quarter. it was the most i could find going back on the bloomberg for a really long time. showing again even as amazon and other come they start to increase as revenue businesses, alphabet continuing to push ahead. if you want to come into my terminal, it is all about the look atap and take a what the shares say. number two as well versus amazon in yellow. apple is still the leader. some of this comes from the cost. revenue increases, they are keeping the cost in lineapple i. costs, keeping that it 23% of revenue to kimberly when it comes to traffic acquisitionso investorss that even as revenue is an recent, the gross margins are holding as well. lot. billion sounds a alphabet, i mean, it is just a drop in the ocean or will they b

taylor riggs is here. anted to take a bigger look at what is going on in the agricultural sector. taylor: i am your girl. we are coming into the bloomberg. carol, this is such a lousy time for a trade war. even before the tariffs were announced, you have the agricultural industry really in a slump, with prices falling and supply rising. i charted and blue the u.s. net farm income, now down to below $60 billion. in white, the bloomberg agricultural sub index, now down to near decades low, almost a record low. as you can see even before these , trade tariffs started to heat up, a really tough time for the farmers. carroll: i always think it is smart to get a longer term. taylor riggs, thank you. spacet, we go to a state the physics phenomenon that will , keep a moon gateway aloft. , jeff move over elon musk bezos has his own plans for space. carol: this is "bloomberg businessweek." ♪ two, down and back up. our phones are more than just phones. they are pocket sized personal trainers... last minute gift finder

bloomberg surveillance, i'm taylor riggs. attorney in st.on & johnson to pay $4.7 billion to women who claimed the company's health products cause them to develop ovarian cancer. the company says it will appeal. walmart is considering major change in its credit card business. the world's largest retailer may move its partnership from synchrony to capital one. negotiations are still going on. private-label credit cards are a growing business who want to monetize the cardholders loyalty to a store brand. with moneyms laundering. criminalas filed a complaint against the banks in danish authorities. bank has apologized publicly. that's your bloomberg business flash. tom: thank you so much. there is so much to talk about. so much to speak of. , this is the prime minister of the united kingdom and the president of the united states. it's a photographic moment. these are not live pictures that we have a live feed coming in and sometimes it's delayed. the two world leaders are in along fine. we heard from president trump as he arrived and spoke to r

joining us with more is taylor riggs. wow. facing some significant headwinds because of significant operations in canada and importing materials, like that $15 million hit that went into effect june 1. alcoa did also cut their full-year adjustment and issued a guidance in part because of this. now down to about $3.1 billion to the whole year, about $500 million lower than the previous forecast. the company did say the supply chain continues to face insurgencies because of these tariffs as well. some aluminum supply disruptions. but if there is a but here, not all analyst think it is as bad as the share price today is making it look. we heard from a few analysts, morgan stanley said the downside risk is limited really because they are looking at a potential dividend. goldman sachs saying the same thing, they are looking for a share buyback. saying own b.i. analysts the second half would be better than the first half, so maybe some good news. and it was pointed out earlier -- it was pointed out earlier that all companies have tal

right now with the bloomberg first word news is taylor riggs. s made a late-night proposal on trade before meeting with the european union official. he is calling on the u.s. and european union to drop all tariffs, barriers, and subsidies. he meets today with jean-claude juncker. jean-claude juncker is trying to head off a trade war. deutsche bank is vowing to defend its position in fixed income trading. germany's largest lender recorded its weakest second quarter in that business since the financial crisis. fixed income securities fell 17% from a year ago. we spoke to the deutsche bank ceo in an exclusive interview. >> now we build up the capital, bring it back to the business, and with the processes we have come up the franchise we have, i am very confident that we will see growing revenue going forward. taylor: -- is riding high in spain and brazil, offsetting the slowdown in the u.k. and emerging-market volatility. the company posted quarter earnings that beat estimates. climbs in spain took on more loans and --. we spoke with the cfo. >> we

taylor: i am taylor riggs. to "bloomberg markets." ♪ we are live in bloomberg world headquarters in new york over the next hour. here are top stories from bloomberg and around the world. set to impose duties on 30 or billion dollars of trading imports at midnight tonight. how are they cope with a mounting world economies? what they mean for the manufacturing abroad and its closest rival? publicf companies making diversity pledges and empty promises. announcements and numbers are coming up. we are one hour from the close of trading. abigail doolittle, i look at this and i inc., what concerns? >> at one point, we went down toward the lows of one point -- on confirmation they will be putting tariffs on 34 billion dollars of chinese goods. to scarlet's point, you're on pace for the best of major averages at the beginning of june and the nasdaq is up about 1%. highs aftersession fed minutes. .ook at the index up 2.3% you would not be surprised to know when you look considering outperformance, up 1.3%. these sectors

niskanen first word news with taylor riggs.lian bonds have fallen amidst concerns that the may be forceder to step down. short and i italian bonds, which border most of the brunt of political uncertainty, leading decline. it was reported the country's populist leaders were united against the minister over nominations for the leadership of the state lenders. and china, the central bank has weakened its rate by the most in two years. by 9/10 of 1%nd to 6.7671 per dollar. authorities are sanctioning the losses by not intervening and have helped make the yuan the worst performer amongst more than 30 major currencies in the past month. the indian prime minister faces a no-confidence vote in parliament later today. the key test of modi's alliance is the first such challenge for any administration in 15 years. while the ruling coalition is expected to easily defeat the motion, the outcome will reveal which group has been more successful at polling smaller and nonaligned parties into the fold. global news, 24 hours a day. powered by mo

let's go to taylor riggs. >> u.k.me minister, plunged into a major crisis, after key members of her government resigned in protest. david davis, and his key assistant resigned in a 24 hour period. despite the resignations of senior administers, most conservatives appear content woulder proposal that keep britain close to the european union on trade and regulations. to the opposition party to help get her plan through parliament. conservatives are considering a move that could bring down the minority government later this year. exiteers that want a more decisive split have only one choice left, vote down an agreement in parliament. that is your look at brexit. francine: the brexit division there willde plans -- be a comprehensive report that is published later today. the service sector accounts for 80% of the economy. cost freeit will trade with the european union. there is on answer questions on everything from the irish border to the role of european justice. lawmakers are deciding the basis for negotiations with bru

taylor: i'm taylor riggs. scarlet: i'm scarlet fu. joe: i'm joe weisenthal. if you are tuning in on twitter, welcome to our closing bell coverage every week from 4:00 p.m. until 5:00 p.m. eastern. scarlet: we begin with our market minutes. we were talking about how stocks started the day in the red, following losses in europe and asia. since then it has been a recovery, and in the final hour we saw equity indexes zoom higher. the numbers are not large, 229 points for the dow, but it is notable that there is so much concern from earlier the risk of sense, and it has turned around. joe: they are not worried about the trade wars, after all. scarlet: you are looking at this earlier, the volumes not particularly heavy. how they shortened the trading week, so cannot read too much into it. taylor: volume off about 20%. scarlet: yes, let's take a look at individual names. we are keeping an eye on technology, given news out of dell. the largest biggest private tech company now announcing plans to publicly traded again, reemerging five years after its lbo as a more div

here to take us through tech's correction is taylor riggs. e looking at what could be the fourth straight day of losses in the faang index. you had a 9% drop. a lot of this coming from facebook and netflix. a lot of people say sentiment went too far, too fast. bank of america shorting some of the stocks. take a look at what that is doing to some of the etf flows as a measure of sentiment. we actually have some positive flows around google because earnings were better than expected on the 23rd and 26th. on the 27th, you had investors pull out about $144 million. invesco q2 qt the index has a quarter of its holdings in the faang index -- qqq index has a quarter of its holdings in the faang index. tina martin adams said that facebook and netflix were sort of the -- gina martin adams said that facebook and netflix were sort of the keys. -- the investment community really messed in terms of advertising growth and they thought that maybe it would be infinite but that is only half of the story, that the rest of it has not played out yet. there has be

we welcome now to take us through some of the results, bloomberg's taylor riggs. are starting with harley davidson in the last few hours, coming in at growth margins that beat estimates. the company has moved some operations overseas. their operating margins will .rop versus previous estimates i want to come over here and look at united technologies. the big news, they are adjusting their 2018 outlook for the second quarter in a row. they are waiting to close in on that $23 billion purchase of but stillollins waiting on chinese and regulatory approval. come over here to verizon as well, that is something we just heard from recently in the past few hours, posting strong subscriber numbers. five straight quarters of growth, pretty good for what is the largest u.s. wireless carrier. to wrap it all up, stocks a lockheed martin, another beat and raising their 2018 guidance for the top and bottom line. you can thank rising geopolitical tension and lawmakers are moving that military spending cap. alix: thank you very much, taylor riggs. -- that is theis numbers. the back

i am taylor riggs. this is bloomberg.w what theresa may remind me of, it is like the voice of the teacher in charlie brown? amazing. is this irish issue has been such a major sticking point. the irish prime minister was over in the united states in the case. it is a very big sticking point. alix: in the markets you got metal streaming losses. concerns over the man headwinds and -- over demand headwinds in china. joining me now is tina davis. tina, good to see you. we have more headlines on trade. tina: when you talk about the rising dollar, you cannot always have a rising dollar and rising commodity prices people we have seen that throughout history. if you see little bit of weakness in the dollar, you see a little bit of recovery. we are seeing a little bit of a comeback and what has been a rather missable quarter for metals. that's rather miserable quarter for metals. can we call it enough? back.volatility has come kind of a cross commodities wears equities markets have been relatively calm. commodities are the exact op

carol: taylor riggs is here. ted to take a bigger look at what is going on in the agricultural sector. taylor: carol, this is such a lousy time for a trade war. you have the agricultural industry really in a slump, with prices falling and supply rising. in blue, the u.s. net farm income, now down to below $60 billion. in white, the bloomberg agricultural sub index, now down to almost a record low. even before these trade tariffs started to heat up, a really tough time for the farmers. carol: thank you. up next, the physics phenomenon that will keep a moon gateway aloft. jason: and jeff bezos with his own plans for space. carol: this is "bloomberg businessweek." ♪ phones have made our lives effortless. streaming must see tv has never been easier. paying for things is a breeze. and getting into new places is even simpler. with xfinity mobile, saving money is effortless too. it's the only network that combines america's largest, most reliable 4g lte with the most wi-fi hotspots. and it can be included with your inter

joining us now, taylor riggs. what is amazing, it is no longer just suit.we have a pie chart showing where they get their revenue. what if i percent comes from suit. a lot of it is premade meals. i think this stems from low rates. if you can't grow organically, they have been growing through acquisitions. you have this big company that isn't just suit any more. that leads us to today. there was a report that we have not verified independently but some reports we are reading out there say they are interested in a sale of the company, talking to the campbell soup emily members that own 41% of the stake. other shareholders to look at a deal. he may go public with the information in august to urge the board to show more urgency and wants to drop the other alternatives and focus on a sale. the company came out in may and talked about doing this strategic review. he said let's just focus on a sale according to reports. a lot of moving parts. scarlet: let's focus on the plan at hand. very busy.viously he urges nestlÉ to break up. talk about that. >> he is not taki

joining us now is taylor riggs.all chipmakers, are more nervous about what this means as they try to digest will there be chair -- ch overall it is a bullish outlook, but one analyst says it gives us a pause, some caution, and that if there is an escalation into trade fights or if there is concern about stealing u.s. technology, you could potentially see some issues. 51% ofo -- macron gets their sales from china, so dealing with china is something they have to do. yearestingly enough, this has been incredible. year to date of a macron chart, they are up double digits, they'd keep pumping out record profits. last year they had banned some sales of macron chips. defendedme out and their stock and reaffirm their four-year guidance. it is only going to affect 1% of our profit. chip -- these memory chips, it is supply and demand. vonnie: we are heading into earnings season and what looks to be a good earnings season for them. taylor: incredible. ones thatchart of the are expected to outperform this year. are above 22%. t

carol: to illustrate the momentum of chinese companies, let's bring in taylor riggs to take us insideberg terminal. taylor: it is a story behind the numbers. so, come to my terminal here. this week, we are looking at america's tech comeback. we are doing that by normalizing it back five years. in white, i have the chinese technology etf's. that tracks the china technology stocks. and in blue, this tracks the american big tech companies. now, you can see in white, chinese stocks were outperforming a little bit. then they underperformed and since the election of donald trump, technology stocks in china have outperformed again. there were some concerns about the trade rules and if they are blocking investments between chinese and american companies what that would mean. interestingly though enough, since the trade were really started to break out, american companies in blue has started to outperform. we will take the hit makers, for example. there is not a lot of supply from the american companies, yet there is a lot of demand from china. so, china needs these chips that the american com

time, here is bloomberg's taylor riggs.lo, heade is rj of the municipal bond investment group that federated investors. thanks for joining me. we haven't heard a whole lot from amazon about the location of the second headquarters since they narrowed down their list to a final 20. i wonder as we head into the second half of this year what is your credit analysis show you about what cities are poised to benefit and when we might hear? >> thanks for having me back. a good question. 20. city is on the list of it's abundantly clear that huge regional economic opportunity for pittsburgh and the others on .he list amazon tells us its 50,000 jobs, there was a study done by the state of maryland suggesting exactly twice that when you consider the regional economic will wires. undeniably this is an opportunity for the 20 cities, it's a bit of a horse race and are rumors out there. they're trying to expect where if it doestely happen here or ends up in northern virginia. trying toal officials draw hq to will be very happy with her inv

vonnie: taylor riggs with the stop of the hour -- stock of the hour. the bloomberg business flash. alibaba founder jack ma lost his position as the richest person in asia. the chairmaned by of india's conglomerate reliant industries. according to the bloomberg billionaires index, he was estimated to be worth $44.3 billion today thanks to a rise in reliant shares. that is where alibaba's stock is trading. anday, netflix will get chance to validate the $46 million added to its market value since their blowout earnings report in april. a question hanging over netflix's second-quarter results is whether it added enough make investors happy. that is the latest bloomberg flat -- bloomberg business flash. coming up, we are following stocks. we are less than 35 minutes away from the end of the session. is your function. ♪ . mark: 11:00 a.m. in new york at 11:00 p.m. in hong kong. from european headquarters, i am mark barton. vonnie: from new york, i am vonnie quinn and this is the european close on bloomberg markets. vonnie: the fed releasing its monetary

taylor riggs, with the failed coup in venezuela, a great scoop by our colleagues. th it are a lot of economic data points, oil being one of them. taylor: no better way to show that than through a chart. let me break you down what we are looking at. the economy has been tied to oil so much. 95% of foreign currency earnings they get through oil sales. in the yellow line, i've charted the venezuelan crude exports. as you can see, dropping down to less than 1.2 million barrels. in blue, i charted crude production, also climbing down. as oil production has fallen, the economy has fallen with it. jason: this is ultimately why we care so much about the venezuela story. it's the largest exporter of crude oil and that ripples through the entire global economy. carol: up next, we attempt to find the sticky fingers that stole bourbon. jason: the missing masterpieces and missing family mementos. carol: this is bloomberg businessweek. ♪ carol: welcome back to bloomberg businessweek. i'm carol massar. jason: i'm jason kelly. you can also listen to us on the radio. on sirius xm ch