tesco is one stock we want to talk about. tesco shares have skyrocketed after britain's largest retailer posted a 60% jump in first half profits. they also launched a plan to almost double its operating margin within three years by cutting costs in its distribution network. tesco has warned its pension deficit swelled from 2.6 billion ponds earlier this year to 6 billion currently due to sinking bond yields. let's talk before this with a senior research analyst. phillip, on the one hand they're up grading the mar kin target, on the other hand they're talking about a difficult, challenging environment. there seems to be a disconnect in the language. >> the big four, have been really affected by the rise of the discounter. so aldi and lidl have grown exponentially. at the moment we're seeing that. so tesco struggled in terms of making value growth. the interesting thing about these results, the first time since 2013, they delivered value growth which was pleasing for shareholders. >> do you think tesco or the industry at large

out for tesco shares. this is about pricing. price for pricing when it comes to marmite, dove soap, ice cream? we are seeing many a unilever good no longer being listed on tesco online. unilever coming out with a statement this morning in their earnings, saying they hope that any pricing concerns will be cleared up weekly. tesco -- guy: let us look at wells fargo. the ceo john stumpf stepping down. the scandal where employees opened -- the strategy that really is to be honest at the center of this scandal. chief operating officer tim sloan will become the head. did you think he would survive? do you think he thought he would survive? >> i think he thought he would, tubeng gone through the in congressional hearings and given back a lot of his pay over the last few years and given what other banks ceo's have survived over the last decade. he probably thought he could make it through this, but there was something about this scandal that touched a nerve that was easy to understand, easy to get outraged over that really, the pressure

theory is tesco is 20% of unilever's uk sales, unilever is 1%, 2% of tesco sales. that would say unilever blinks first. this is emotional for unilever. unilever can play this one long. >> it does raise the question of whether or not unilever is taking the lead here and others will follow suit. last week, we heard dave lewis congratulating himself over his relationship with suppliers. is this the suppliers striking back? more than just about the pound? >> we think the uk is set for a renewed bout of food price inflation. that's definite. i'm struggling to understand why unilever needs to put prices up by 10%. we can't get that number. >> some of unilever's products are made in the uk. i knows there a speculation for them to have it just as an excuse to put price up? >> they are reporting commodities, petrochemicals mainly in dollars. even if it's made in the uk, they have to recover inflation. our spread sheet doesn't say 10%. >> they've enjoyed a windfall for a while, do you think that tide is turning? >> it's not turning just because of sterling but because of und

. -- tesco percent called up 5% operating profit. -- operating profit falls 60%.lewis seems to be offering up a better power protector. manus: watch upfront for it -- guy: watch for the ftse 100. the market open is next. this is bloomberg. ♪ guy: welcome. i'm guy johnson as bloomberg's european headquarters. a busy morning in london. i've alongside caroline hyde in frankfurt, moments away from the start of european trading. caroline has the morning brief. caroline: guy, europe's paper tantrum. is the market misleading the ecb in quantitive easing intention? the ftse hangs on the edge of history. sterling gets smashed as stocks hit record lows. we're points away from a bizarre, all-time high. the markets open imminently. thethe feds just lack or or new government india's reserve bank. guy: thanks very much. caroline and i have a busy next hour. the market open -- the ftse 100 is going to be interesting this morning, to see what's happening. the pound has been under pressure. let's get into it and see what's happening. we're anticipating that we could see a mildly p

despite the dustup with tesco, third-quarterd sales figures that outpaced estimates.e: a lot of potentially anxious shoppers in the united kingdom. next, we are taking you to a new virtual reality, a sony version, at least. has gone onation vr sale around the world. version is cheaper than rival models and could be a test technologythe rival will be accepted by the mass market. it is just under $400 per headset. expect this sector of the gaming market to grow to $40 billion by 2020. it's quite a lot of money at stakñaw=>>>>>>>>>>>7 10/13/16 10/13/16 [captioning made possible by democracy now!] amy: from pacifica this is democracy now! >> i was in so much pain, i did not understand anything. amy: today we look at a stunning "new york times" expose, "how u.s. torture left a legacy of damaged minds."

tesco says they are having availability issues and will have it resolved soon. declined to comment. snapchat has pushed ahead with the biggest social media ipo since twitter, that is according to people familiar with the matter. morgan stanley and goldman sachs will lead the listing, which may happen as early as march. other lenders from j.p. morgan help.edit suisse will the company now known as snap, inc. can file confidentially because revenue is below $1 million. and shipping jumped in seoul, and receivership, stop selling core as is his week. shares netted 14% at one point. the court had initially said it would to dispose of the container line, but was considering a piece by piece sale. rival emergence have indicated interest. that is your bloomberg business flash. manus: thank you very much. editions, the impact of brexit, they hit the tape 7:00 a.m. u.k. time. anna: this is european telecom intelligence. and alex dryden is still on set. great to see you this morning. what do we expect from sky this quarter? manus suggested there could be a number of things

tesco has taken a number of unilever products office website. the chain is running low on several projects including the sticky brown yeast extract. genie: he was 22 years old and accused of planting a bomb attack on a berlin airport. he committed suicide wednesday evening at a correctional facility. this is a major story for germany because it raises a lot of questions about the power of the police, the treatment of a heavily guarded prisoner who is under suicide watch and managed to commit suicide. also the way that he was arrested. police had been hunting for him for two days. tied him up syrians in an apartment and alerted the police. he has accused these three syrians of being accomplices to that attack. genie: there are a lot of lessons to be learned. >> this is not a story that is only about a prisoner committing suicide. arrested shows that germany is dependent on cooperation with those who have because the refugees are capable of weeding out those who may have come to europe for criminal purposes and this case really proves how importan

largest retailer, tesco, and it's largest consumer goods company, unilever. now and again, a relief for marmite lovers and also for the two companies, who settled their spat on thursday per unilever had been demanding a 10% price hike, citing cost increases due to the falling pound in the wake of the brexit vote. no brand is that strong that it can withstand customer reaction. fund a prepared to just blanket 10% increase across the board. and itsalling pound effect on consumers is one side effect of brexit. as thee sure to come e.u. -- as britain negotiates its brexit from the e.u. the former london mayor boris johnson made a campaign slogan out of britain having its e.u. cake and eating it, reaping the benefits of the e.u. market without bowing to its legislation. european council president doll assessed thed tusk situation. >> there will be no cakes on the table for anyone. there will be only salt and vinegar. the only real alternative to a hard brexit is no brexit. the countryay says will formally buy out its withdrawal moment by the end of the month of ma

tesco has reported first half earnings that beat estimates sending shares higher.rating profit rose 60% before one-time item. chief executive officer dave lewis's plan has gained traction. his brought growth by cutting prices, narrowing audit ranges and improving customer service amid a price war. google is embarking on a wholesale revamp of its mobile phone strategy debuting. it will go head-to-head with the iphone for the first time. they are the first phones that were conceptualize, design, tested in-house. they feature a virtual assistant. that is the bloomberg business flash. francine: make -- thank you very much. jeffrey goodlatte has sounded off on the to bank. it's not -- it highlights the impact. yesterday at the investment conference, goodlatte said that if you keep these negative rate policies for a future period of time, you are going to bankrupt these banks. deutsche bank shares have felt. richard jeffrey is the chief economist. richard, thank you for staying around. mark, you have a great piece on bloomberg view. he goes to the fact that we keep on sp

related pricing increases that resulted in some of its products, such as marmite, being pulled from tesco's online store. the big satellite broadcast here, shares up as earlier.wo -- 2.2% it has benefited from the drop in sterling post-brexit, a company that operates in five european countries. victor stirling has plunged against the euro in recent months. this is a company contending with rising costs for sport. wanted to show you the u.k. housing market, showing its strengths here in the u.k. after the shock inflicted i the brexit vote faded, the shortage of robert these for sale persisted. in london, values continue to decline separately. homes under construction dropped 13% because of brexit uncertainty. the housing market turning around post-brexit. vonnie: let's check in on the bloomberg first word news. a hillary clinton is holding nine point lead over donald trump in pennsylvania. that's according to a new bloomberg politics poll which gives clinton a lead of 51% to 42%. clinton's lead swells to 28% in four suburban counties that were once reliably republican. 193 member states have

unilever, a big fight with tesco.h people as they begin to contemplate the future of their breakfast. tom keene part -- tom keene, back to you. tom: american politics of the last couple of days has been extraordinary. what is the confidence of the nation? this is the favorite statistic, because it is a weekly statistic, the bloomberg comfort nation'sthe confidence. the green rectangle is the glory of the late 1990's. down we go. , thee obama administration red line, improvement in confidence. one-off,green box a guy johnson, or are we back to normal right now? guy: let's talk a little bit about china. we have seen data, overnight. it paints a bleak picture. tom: really ugly. guy: it talks about a global story as well. export story to the rest of the world -- down and down pretty hard. an index we should be paying attention to -- are we being over gloomy about the prospects within china at the moment? mark producing this on "daybreak" a little bit earlier. is an alternative gauge, i guess you could say, for chinese gro

manus: and low-cost competitors mounting pressure on tesco.ales volumes get the numbers back on track?we break a number that 7:00 a.m.. anna: bill gross has been watching his bloomberg, reverting positions at the report of the ecb would likely down bond purchases, before he clears its qe program. we have that story. this is bloomberg. anna: welcome back. this is countdown. 1:49 the morning in new york. fairly flat at the start of the u.s. equity trading day. things looking flat to negative on those u.s. futures right now. let us to the bloomberg flash. anna, google is embarking on a wholesale rebound, debuting a pair of handsets that will go head-to-head with the iphone for the first time. the pixel in the larger pixel xl were conceptualized, design, engineer, tested in-house. they feature a virtual assistant, flashy camera features, and the first to boast android's new operating system. on that note, htc will be building the new phones. they will assemble the iphone, something a strategy for htc, zone branded phones if you're a member, once c

brands like ben&jerry's ice cream, marmite were removed from tesco's website. both companies declare the spat is over saying they were pleased that the situation had been resolved. >>> the uk must choose a hard brexit or no brexit says european council president, donald tusk. he warned that britain wouldn't be able to have its cake and eat it too by remaining in the single market after leaving the eu. >> the truth is that brexit will be a loss for all of us. there will be no cake from the table for everyone. there will be only salt and vinegar. if you ask me, there is an alternative to this scenario, i would like to tell you yes, there is. i think it is useless to speculate about soft brexit because of the reasons i've mentioned. this would be purely theoretical speculations. in my opinion, the only real alternative to a hard brexit is no brexit. >> the fx markets, the euro dollar relatively stable around 1.10, slipping a bit after hitting a 2 1/2 month low after the last session or so of 109. just above that. on track for somewhere in the region of 1%, 1.5% lo

te tesco shares are up. >>> and vw has agreed to pay $1.2 billion to u.s. dealers for the emissions scandal. the german automaker said the cash payments will be made to resolve past and current hits to franchise value suffered by the 652 dealers. vw shares are almost a third lower since the emissions scandal broke back in september of 2015. david is still with us from jpmorgan asset management. david, when looking at the health of companies at the moment, the european companies, in particular, do you think those company values, we were just talking about the banks and the erosion seen there to some extent, not during the third quarter, but do you think there's company value and the companies are sitting in on the cash piles that they need to put to work? are we going to see a bump in the fourth quarter? >> i think there's value in europe. and i would actually say for the past couple of years earnings have looked pretty good, but the past six or seven quarters have been fairly lackluster. our expectation is that profit globally could actually pick up. you ha

marmite and a host of other things were not available online from tesco.he big reason is a drop in the pound. the drop in the pound value has made imported goods more expensive. the orange line is the euro versus the pound. as the line goes up, the euro is appreciating versus the british pound. food.ue line is imported both had been rising but shot up right after the june vote. it is a rate of change everyone is adapting to. this is why unilever, the packaged food giant decided it would raise prices by 10%. tesco, which is just rebuilding its reputation as a low-priced chain did not want to pay for that and pass the cost on to customers. joe says they have resolved this in the last couple of hours, so for marmite fans, that is a relief. i'm looking at a concerning chart in the u.s. that has fomc officials paying attention. this is the percentage of nonfinancial debt to gdp and it's on the rise. it is not quite back at the levels are on the peak of the crisis, but it is up there. signs that right at sector leverage our creeping back in and maybe there has n

jumpedof tesco have andr a drive in sales operation profits. for the first half of the year, the company took in 677 million euros. wrap up,ephen, just to we were talking about the drop in sterling, and there is one very unhappy consequence for britain. stephen: the fall in the pound against the euro technically means the uk is no longer the largest -- the second-largest economy but has dropped. economists do not consider this the best way to measure the size sure tomies, but it is cause a blow to at least one side of the channel. genie: indeed. thank you for that look at the business news. it is time for "the press review." now atake a look grabbing headlines around the world with florence villeminot. lots of focus on u.s. politics today, and on the u.s. vice presidential debate last night, the only one in this campaign. flo: it was supposed to be the battle of the nice guys, but mike pence and tim kaine got a little nasty about taxes. particularly donald trump us failure to release his tax return. you might notice the word "vanilla" in the ti

tesco beat estimates. prices and lowered improved customer service.here is a big acquisition in the insurance industry. japan -- has agreed to buy thisalty holdings -- represents a 43% premium over the closing price on monday. japanese insurers have been expanding outside japan to offset lower growth. and twitter is expected to receive acquisition rates this week. marc benioff has been making the case to investors that his company should be the buyer. they see twitter as a jewel with lots of potential. that is your bloomberg business flash. to have stephen king with us this morning. to link everything together, as francine and i go to washington for the imf meeting. stephen, link again of the bond to current see and currency depreciation? changed is that sterling has finally given way, it looks to be lower for longer. depreciation for longer. are we setting ourselves up for the mother of all currency wars? is somethinge unique about the u.k. currency and it reflects the fact that currencya massive payment account. and it also has tremendous uncertaint

fascinating is it comes on the back of yesterday's story about marmite gate, a spat between unilever and tesco and it is feeding into input prices. they are rising. can retailers afford to pass their model or will they allow it to dent the top line? all these inflation questions being asked today. mark carney was touring the u.k. earlier and he says inflation can overshoot the bank of england's 2% target. that is what investors are talking about today, to what extent will the bank of england allow inflation to overshoot its target. the ecb is buying corporate everett bonds. one of the big -- corporate government bonds. isn't it running out of bonds to buy? some are below the deposit rate. one is atp, down by .42% which ecb,the question of the what can it do in markets, credit markets is coming to an end. so many questions and so little time to answer them. let's get over to julie hyman with the latest. julie: maybe the ecb can start buying marmite is part of quantitative easing. the u.s. averages are holding pretty well even in the weaker than estimated consumer confidence, falling to its lowe

intel skill tesco phone foun was entirely too and an adult archery appreciative my dad. he really was a kind generous man who loved his family and loved his job is seem surreal the public serbia is gone he passed away september 17. i always knew my dad was watching me. then practice inquiry i can see him from the stage. presented with items including the fly does fly and liquids fire station number three on the day of the 65 -year-old's passing. they also received his badge number 74. is to join the lakewood fire department on sunday this crowd is odds fitting tribute because five heard the bone was such a strong role model. and news. still ahead much more from tonight second presidential debate coming up here how don trump defended his comments about an open mic and tried to turn into into an attack on his opponents. see how trump made headlines welcome back it was part debate part debacle don trump and hillary clinton take care and blasting each other for 90 minutes tonight as he sought on fox 8 andrew spencer shows us how the two candidates responded. from take long f

tesco said no way. unilever down 2.5%. -- a judgeit exit will he arguments prime minister theresa may does not have the authority to trigger article 50 on her own and without an act of parliament. we talk about what that means with a man who has over half $1 trillion of assets under management, andrea sutra von -- utermann. david: this is bloomberg. brexit remains in the spotlight today as the u.k. or in minister, boris johnson, testifies in parliament, and arguments begin in the high whether london over prime minister chorizo has the authority to trigger article 50 without an act of parliament. we turn to simon kennedy from our headquarters in london. of the two, boris johnson and the high court, which is more important? simon: i think boris johnson will move away from the spotlight and the folks will be on the court. boris johnson, big cheerleader for brexit, talking about the opportunities that will come britton's way, and the doom will soon pass. for johnson and the government, the bigger test will

we have seen a much talked about fact between tesco, the big retailer in the u.k., and unilever. also seen apple putting up their prices of the new iphone of 11% to reflect the weakness in the town. tracy: that is right, anna. now we have people talking about this even more. you mentioned across europe we have at least one bank that is bullish on european stocks. tell us more about that. anna: we have barclays talking about how european stocks, according to their investment case, a buy. they say buy european equities regardless of whether we get a fed interest rate hike. they say generally the condition, in terms of how loose monetary policy is around the world, the bank of england, the fed, and the pboc, generally, the picture from central banks remain supportive of stock markets. european stocks have posted a loss of 17.8% year to date. barclays says even if profits remain stable to the year end, then they see room for stocks to gain. which sectors do they like? they like financials, which could be controversial given the headlines, consumer discretion, and technology. later to

intel skill tesco phone found out via cancer.. was entirely too and an adult archery appreciative my dad. loved his job is seem surreal the public serbia is gone he passed away september 17. i always knew my dad was watching me. then practice inquiry i can see him from the stage. and there he saw me after memory shared by families they we're presented with items including the fly does fly and liquids fire station number three on the day of the 65 -year-old's passing. they also received hiba is to join the lakewood fire department on sunday this crowd is odds fitting tribute because five heard the bone was such a strong role model. and lakewood allison brown fox a news.od still ahead much more from tonight second presidential debate m coming up here how don aboutp an open mic and tried to turn into into an attack on his opponents. see how trump made headlines before the debate even started why these three women we're sitting alongside they candidates. a man attacked me in a parking garage. tried to stab me with an 8-inch knife. but

the biggest individual stock we have seen gaining today is tesco. this rally track over two days and this is after a reported first-half earnings that beat analysts estimates and set a target to restore its battered profit margins, showing that the plan to revive britain's's biggest grow sure is gaining traction. finally, i want to show you euro-sterling. we have talked a lot euro-dollar reaction. but in this move, we see sterling at its lowest level versus the euro in five years. 90 minutes into the trading session in the u.s., a bump up for stocks, near the highs of the session and energy shares leading some of the gains. we have seen bond yields rising and that has tended to benefit financials as of late. prices been watching oil , helping energy even more. $49.80 a barrel is where we are right now after an unexpected drawdown in crude oil inventories prefaced with the industry data we got last night. supplyould be more disruption related to hurricane matthew. we have seen a trend where --lysts have been predicted predicting building inventories

unilever and tesco result a the retailers online website.indow on pricing negotiations between supermarkets and vendors following the weakening of the pound. the bank of england said it has more than 1 billion pounds of corporate bonds. purchases started on september 27. the bank of england already spent 10% of the budget and it tends to last 18 months as it tries to hold down corporate lowering -- borrowing costs. this is bloomberg. anna: thank you very much. breaking news. while we were speaking to the bank ofron, england and the survey said that mortgage demand fell significantly in the third quarter. they said both demand for prime -- lending decrease. lender's expected demand to increase in the fourth quarter. the availability of secured creditor household is unchanged. lots to discuss with our next guest. takebrexit or no brexit, your pick. that was the message from tusk yesterday. in his speech, he signaled the process of disentangling may take longer than two years. let's welcome john -- head of rate strategy at ubs. let's start with

because last week, we saw unilever in this long-running -- rather a brief dispute about pricing with tescoe going to get numbers from that company. the other headache for the company is for the ceo and their operations in south korea, where sales ground to a halt after women and children fromlinked to sickness chemicals. our i going toref bring third-quarter numbers. the strategy has been to put an online collection points. they're facing tough competition in their home market. also, deteriorating conditions in some of their market in your. -- in your up. -- in europe. tracy. tracy: sounds like a busy day for you. here in the middle east, we are just under two hours away from the opening of the emirates and abu dhabi at 10:00 a.m. local time. let's get it quick check of what happened there yesterday. we can see some of these are up. however, the standout has to be saudi arabia's tadawul index. they saw the most in the world on tuesday, extending declines to a third day on the back of a flood of disappointing corporate results. more about to talk that with our emerging markets reporter. we

going up.pliers of -- when we saw the battle between unilever and tesco.hey are saying full-year growth at the end of the target. that is a good -- that could move things around at the start of training. we will dig further into the statement and see if they say anything about their pricing. u.k.: this is one of the construction, there are lots of fights around the u.k., you pick up your cement or would. -- or wood. like sales growth came in at 2% to close. making more efficiency in terms of the chain and the results will be 40 to 50 million pounds on a yearly basis. i don't know if that is a brexit discussion or if that is a real organization of business and how you do business in that area. a little bit of breaking news. we will keep an eye on the stock. q3 impacted by russia and other developments. . tragic story around korea let's have a look at the futures. they suggest they will be stronger after the trading day. not by an enormous amount but a little bit. manus: there is a couple of different things at play when you look into these markets. the head

. >>> staying in retail, tesco is testing a contact list system to do away the annoying paper receipts that you never know what to do with and send a record of purchases to your mobile phone. what do you do when you get them? i bought something and they sent me a receipt by e-mail. but do you have a folder full of old reseep seepts on your e e-mails? >>> and guess what, after a short price dispute with the britain's largest supermarket is seeing sales soar. shoppers have purchased 335,000 pounds worth of additional marmite. because of the fears that the price of marmite could go up. so a lot of you out there buying additional marmite for your cup boards. e-mail us. you can find us online. always nice to hear from you. you can also find us on twitter. tweet us directly. good morning to all of you already joining. i'll try to incorporate as many of your tweets and e-mails as possible throughout the show. >>> coming up, taste iing the sweetest in spain will be peeling apart a mix ed bag of earnings for the french giant. that's coming up. >>> also talking about e emerging markets and wheth

tesco up 6% today, huge. i leave you with the gas prices. a time, liz, during the year when we see a fall in gas prices because of a switch to the winter blends. in last week indiana up double digits, michigan up double digits, west virginia, florida, up all over a nickel in the past week. i think more may be to come. liz: okay. i'll take it. listen, i much prefer cheaper gasoline. i know it hurt as lot of stocks involved but hey, i'm speaking for many -- >> you about you take a cab anyway, there you go. liz: no, i drive my car. i'm from l.a. all we ever do is drive ourselves. jeff flock, seven minutes to go before the closing bell rings. the dow is still gaining. we had been up more than 120. we're watching nasdaq very closely, not just the dow. the nasdaq is extremely close, 12 points away from a new record close. the number to watch, 5339.52. we may see it. leaving nasdaq a few minutes into the close, twitter. while twitter is down, it is well up off the floor after a report charlie gasparino just made in this hour that bankers are tellin

and last week we had the spat tesco. we will be asking paul bulcke about what that means for prices of goods. this is bloomberg. ♪ michael m.: good morning. tom michael mckee in for keene this morning. let's get the bloomberg first word news from taylor riggs. taylor: donald trump has underscored his contention that the election is rigged against him. at the debate in las vegas, he accept to say you would the election results if he loses. hillary clinton called the comment horrifying. they squared off on another issue, the economy. >> i am going to create tremendous jobs. 1%,re bringing gdp from which is what it is now, from 1% of two 4%, and i actually think we can go higher. i think we can go from 5%-6%. we have a tremendous machine. we will have created a tremendous economic machine, once again. hillary clinton: his whole plan is to cut taxes to give the biggest tax break ever to the wealthy and corporations, adding $20 trillion to our debt and causing the kind of dislocation that we have seen before. truly will be tr

, unilever falling despite better than expected third-quarter sales because number-one uk groegser tescoas removed unilever products from its website. it happened in protest of higher prices. the consumer giant is trying to charge britain's top supermarkets in the wake of the brexit vote induced by the slide in the pound. both down about 3%. the pound has stabled slightly in the last six months, though, down 14% against the dollar. >>> still to come on "squawk alley," john stumpf may be out at wells fargo, but those left on the bank's board still have a huge mess to clean up. is tim sloan up to that tas snk and before we head to break, take a look at the major averages here in the u.s., still deeply in negative territory. >>> hi, everybody. i'm sue herera. here's your cnbc news update that the hour. the judge is allowing a misconduct complaint to proceed against new jersey governor chris christie over the george washington bridgegate scandal. it now goes to the bergen county prosecutor's office, which will decide whether that case will lead to an indictment. >>> the 193 u.n. member state

i'm waking up lost in boxes outside tesco look like a bum sipping codeine coca-cola ? ? thought that i was northern camden's own flash gordon sonic raygun ? ? gonna be a superstar i can't get a job so i live with my mom i take her money ? ? but not quite enough i make my own fun in my grandmama's basement she said i look mad ? ? she said i look wasted come back down to my knees gotta get back gotta get free ? ? come back down to my knees lean back now lean back and breathe come back down to my knees ? ? gotta get back gotta get free come back down to my knees lean back now lean back and breathe ? ?? ?? ?? ?? ? come back down to my knees gotta get back gotta get free ? lean back now lean back and breathe come back down to my knees gotta get back ? ? gotta get free come back down to my knees lean back now lean back and breathe ? ?? ?? [ cheers and appe >> seth: glass animals, everyone. the album "how to be a human being" is out now. we'll be right back. come on...you can do it! dogs just won't quit. neither does frontline. introducing new frontline gold. with its new easy

down to my knees ♪ ♪ lean back now lean back and breathe ♪ ♪ ♪ i'm waking up lost in boxes outside tesco get a job so i live with my mom i take her money ♪ ♪ but not quite enough i make my own fun in my grandmama's basement she said i look mad ♪ ♪ she said i look wasted come back down to my knees gotta get back gotta get free ♪ ♪ come back down to my knees lean back now lean back and breathe come back down to my knees ♪ ♪ gotta get back gotta get free come back down to my knees lean back now lean back and breathe ♪ ♪ ♪ ♪ ♪ ♪ ♪ come back down to my knees gotta get back gotta get free come back down to my knees ♪ ♪ lean back now lean back and breathe come back down to my knees gotta get back ♪ ♪ gotta get free come back down to my knees lean back now lean back and breathe ♪ ♪ ♪ [ cheers and applause ] >> seth: glass animals, everyone. the album "how to be a human being" is out now. we'll be right back. [ cheers and applause ] does pat toomey speak for you? i also want to thank the nra for it's, uh, strong support for my campaign. pat toomey: he opposes an assault weapons ban and got an "a"

third quarter deliveries for tesco -- four tesla defied expectations.ll me all about what is happening here. >> it looks like tesla is putting the pedal to the metal in terms of their shipments. he wanted to make as many shipments as possible. 24,500 vehicles in the third quarter. they are sticking with the fourth-quarter forecast of 50,000. they have encountered some headwinds in recent months. the last chance to show it is profitable before they raise money to ramp up production of the new model three. elon musk we saw stating his goals to various staffers, to deliver and build every car they possibly can. he is definitely trying to follow up with that goal. see what happens on monday trading when that comes out. looking ahead to other things, deutsche bank is on the mind of many of us. bass pro also. these are stories that will likely play out as we see the opening bell on monday. deutsche bank was a big story friday. a story there is going to be a renegotiation of the deal. right now, it looks like the bank is on track. 1000 job cuts that were previ

. >> shares are lower after settling a dispute with tesco.t had pulled the products from the shelves after demanded a price increase because of decline in the british pound. the currency has plunged 17% since the brexit vote on june 23. >> i wonder how they settled it. wells fargo retiring effectively immediately, john stumf. >> the analyst community taking the changes both in terms of new ceo and the changes at the board pretty well. but there is one group of people that are still ambivalent at best of the latest update we have had and that is, of course, lawmakers. the reason being mr. stumf leaves wells fargo a rich man. the bulk of that we know, 110 million comes from his 2.4 million shares. that, of course, has been built up over his 34-year career at the bank. not all of it even a wards. senator elizabeth warren describes that money as ill-gotten gains. in an interview with me yesterday the new ceo confirmed that both houses of congress are still after more from the bank in terms of information but he hopes that if he is to face hearing

tesco is one of 13%. ceo dave lewis is vowing to double margins in three years. the company also announcing a $2 billion cost-cutting plan. in the u.s., micron -- fourth quarter the estimates, but it stremme prices fell. chip prices are falling as well. twitter is in the news. the wall street journal is reporting that it will field -- that twitter will field offers. that the unpolished jewel could add big revenue. jon: the m&a soap opera continues throughout twitter. coming up, it is the federal reserve, the ecb, building a consensus. jeff currie, goldman sachs' head of commodities, we will catch up with him. from new york city, this is bloomberg. ♪ hawkish comments from federal reserve officials are piling on this week, adding to bets that interest rates will increase by the end of the year. >> the committee took a first step toward policy normalization december -- last december, increasing the target rate for the federal funds are by 25 basis points, to a quarter to a half a percent. we have been doing this range thing. we used to pick a number but then we were

taylor: in the u.k., there's more evidence that tesla ceo dave lewis has the country's -- tesco's ceolargest grocery chain back on track. it was the only one of the u.k.'s top for grocers to increase shares -- increase sales. now, investor concern has been for slowing growth in netflix. "bloomberg business flash." tom: what we have seen over the last couple of days, howard ward is with us from game cope. and christine harper joins us, who essentially invented modern financial reporting at bloomberg. christine, thrilled to have you with us today. let's start with a rhetorical view. bank?ldman sachs christine: it is becoming one. it is considered a bank and they take deposits, and most of that has historically been done through its wealth management business. that theyave open up have opened up an online bank. they are becoming much more like a traditional bank. they do not have branches around the country, but a lot of people say the future of banking is not having branches. tom: do they have the pressure to outperform? young hot see us yesterday asked questions of -- christine: one ar

the pricing dispute between unilever and tesco is over.shelves after there was a price increase. the company is raising prices in the u.k., following the plummet of the pound after the exit from the european union. ken bone is in fame and is it worth it, the privacy. stuart: that's the price. ken bone a nice guy, but run head-on into the meanness of the modern electronic world. you know, he came on my show, and we had him on and we said, supposing you get some kind of endorsement deal and he said well, i'm going to give 10% of it to good causes like homeless people. okay. i thought he was a terrific guy. the world really loved him. loved his sweater, great midwestern guy. then he gets the uber deal, he's got an endorsement and immediately electronic media goes after it, he's a sellout they say and worse than that, go into his private life and put it all out there. what a disgrace, you know? i'm getting to the point i don't want to put anything in an e-mail. i don't use facebook anyway, i'm going back to letter writing because you could bur