so tesco is facing a lot of pressure from these new shifts in the market.have made —— a traditional deal. not very innovative in terms of business yet at the same time the bottom line is that people will have less to spend and people talk with their wallets. so by discounting in particular their own brand private label products, 50% of tesco sales and brand products, about 25% of car for sale is our own brand, and they wa nt to for sale is our own brand, and they want to increase that to about 33%. so by including this disc and they can really leveraged their position in the market. that was madelyn postman speaking to us earlier. some unexpectedly good news, in a manufacturing sector moved upwards in may although the industry is still subdued. the latest purchasing managers index showed a reading of 54.4 managers index showed a reading of 54.1; last month. that's higher than the month before, also slightly higher than expected. the survey also revealed that sentiment has been impacted by global trade bodies. joining us now is jane foley, senior fx strategi

tesco value stuff all the cheaper tesco value stuff all the posh stuff, this is a danger of dying eatingsee. —— the is a danger of diluting it. any shop will try to tempt people m, any shop will try to tempt people in, airconditioning. in any shop will try to tempt people in, air conditioning. in this heatwave. we have been asking you how you have been coping with the hot weather and how it affected your spending habits. someone says i am eating fewer take aways, eating out less and cooking more at home in the heatwave, more ice cream. n'djamena says —— benjamin says it is a fortune buying cold coffees pins and krsa kova. fortune buying cold coffees pins and krsakova. keep that coming. there is actually cold weather in east africa. good morning, good afternoon from there. thank you for your company. ice cream all about! very nice to see you. that's it from business live today. we'll see you again tomorrow. the heat continues to make the headlines. yesterday was the hottest day of the year so far in the uk, 33.3 celsius recorded at santom downham in suffolk. temperatures not quite so high

one to mention is tesco. shares are down 196. mention is tesco. shares are down 1%.is talking with carrefour and a strategic alliance or it can just be dissatisfaction in general. and kim gittleson has the details of what's ahead on wall street today. on monday, investors will be paying close attention to a survey of manufacturers. this gives us a good sense of how the manufacturing sector here in the united states is doing. now, a june reading of that same survey, which is known as the ism index, shows that the manufacturing sector was expanding and that order backlogs hit a 1a—year high. the question for investors will be whether or not president donald trump's trade war is having an impact on the sector that he says he most wants to help. we saw that the imposition of tariffs went into effect in the european union and canada and in china in the past month. the question will be is this having any impact on the manufacturing sector, or is the us economic activity enough to sustain it in the month ofjune? joining us isjeremy stretch, head of currency strategy at cibc

this was not a merger but almost too big names in european retail are teaming up britain's tesco and francis ford will work together to boost competitiveness and offer customers lower prices it's a move to deal with increasing pressure from competitors. they're calling is a long term strategic and lyons european food retailing giant tesco and car for are hoping that teaming up will help increase their profit margins one of their main objectives is to get better deals from suppliers and they bring them to offer customers lower prices and move unless they believe smaller chains at a further disadvantage. if the major players are finding it difficult there and they're not moving into alliances or as mergers and diversification just to russia trying to stay afloat is going to tells you how bad things are going to be for the smaller supermarket chains here in the u.k. . the european alliance comes as retailers face increasing competition from online chains like amazon. discount supermarkets like germany's legal are also putting pressure on rivals to lower prices. to australia know the cou

britain's tesco and france's car four are teaming up in a bid to boot. competitiveness and offer customers low prices the alliance comes as the two grocery titans grapple with increasing market pressure one of the main objectives is to get better deals from suppliers enabling them to offer customers lower prices but that could put smaller chains of a further disadvantage. if the major players are finding it difficult there and they're now moving into alliances or mergers and diversification just to actually trying to stay afloat it's going to tells you how bad things are going to be for the smaller. supermarket chains here in the u.k. . the european alliance comes as brick and mortar retailers struggle with increasing competition from online operators like amazon the rapid descendants of discount supermarkets like germany's and little are also putting pressure on the likes of tesco and car for to lower their prices. it's the first phase of what's to become africa's biggest free trade zone the two hundred forty hec test site that's the size of about three

descendants of discount supermarkets like germany's little are also putting pressure on the likes of tesco and car for to lower their prices. it's the first phase of what's to become africa's biggest free trade zone the two hundred forty hector sites that's the size of about three hundred fifty football pitches is intended to encourage foreign companies to set up manufacturing plants. at the opening ceremony djibouti as president was joined by several chinese business representatives it was a reflection of the two countries close economic times. less on. djibouti is international free zone is a flagship project. and of culminates a significant number of infrastructure projects that have seen the light of day in recent years and that are helping to strengthen djibouti its place in international trade and commerce yes the free trade zone won't just boost your butties economy but that of east africa as a whole neighboring landlocked ethiopia for instance will benefit from accessing the port within the zone china has also invested billions in rail and road networks within the region. the proje

right now, 50% of tesco's sales are owned brand products. they want to increase that. think that the chain of supply, they have a lot control over owned brand products in terms of what they develop and offer, marketing and branding and they want to push these products. in the end, with consumer goods, people need to buy food and need to go shopping somewhere. it is partly about the online sales and the bricks and mortar. with this strategic partnership, they want to strengthen their position in the market. and now to some sports news thatis market. and now to some sports news that is not the world cup, roger federer has ended his decades long partnership with nikkei and signed a deal with uniqlo, it is reportedly worth $300 million over the next ten yea rs. worth $300 million over the next ten years. quite a good score for uniqlo. indeed, i was years. quite a good score for uniqlo. indeed, iwas very disappointed this morning, all ready to talk about japan's loss at the world cup, but some good news for uniqlo. roger that hasn't commented abo

they don't know this because of the sponsorship of coles wasn't it yet tesco they're all there they're all there they're all cashing in the hardest community to challenge is your arm and and you know i people said that's me dan you're protesting that this this this place just leave quite alone and i totally agree it's a very special space for people to come out but we got to live with integrity and having institutions that be a systems which have not got people including the l.g.b. to the community's interests at heart because they profit from killing people including where people they have no place on pride it is evil some people no tesco and these people the national news more than all of you will can be deterred will still course cause they to this is the fiftieth anniversary of the year after the fiftieth anniversary of the gay liberation front who started pride because of stanmore majority of people and for a few like that old man is like you need to know your history but it's true most people probably think because of the corporate involvement in what they got started by a corpor

the strategic partnership, tesco and carrefour wa nt to partnership, tesco and carrefour want to strengthen take a look at some interesting weather happening around the world, weather happening around the world, we will head to north america, real contrast in temperature, warmer towards the east. there has been some cloud and heavy showers to come, especially around the gulf states on tuesday, but also towards the north—east, where temperatures in new york and montreal are well above average in the mid—30s. much cooler for the likes of san francisco and los angeles. the other side of the atlantic, high—pressure driving the weather across many north—western parts of europe, largely dry for the uk and parts of germany and scandinavia. further south, scattered heavy showers in spain and southern france into italy, and low moving into the west of russia which might bring showers and cooler conditions for the world cup. the monsoon continues north and north—west across india, especially heavy rain on wednesday, maybe flooding issues for stop and the likes of bangor and bangladesh. there is a typ

just want to finish with tesco, story.orporate the u.k., charlie wilson, seen as a possible successor to the chief executive officer, is stepping down after being diagnosed with throat cancer, and shares are down by almost 2% today. booker,continue to run and he increase their earnings for 12 consecutive years after 2005,n the rains and building online sales to small business, and he was named to u.k. and ireland chief as tesco prepared to complete that booker him a strongaking number two to lewis in the combined company. tesco shares down by 1.9%. that is look at european markets. vonnie: in the u.s., continue dollar strength off the back of a little pound weakness today. euro, as well, of course. lira, we do not pointed out in the european data check is that 4.69, said a little stronger, off the lows, but it had been the worst after that coup attempt two years ago. for crude and we didn't inventories later in the week. the mexican peso is back to 19.02. let's look at g20 movers. a lot of the same assets are the ones we are talking about,

tesco's latest store design is veiled in secrecy — no—one outside the company knows what the new—lookthe discounters aldo and lidl. they are planned for wandsworth, london, chatteris, cambridgeshire and immingham, lincolnshire, and some are suggesting they could be called jack's, after tesco founderjack cohen. manufacturing has had a good year — eef, the uk's manufacturing organisation says businesses across all sectors have been thriving — it's coming largely from exports as the global economy has been growing and the rise in commodity prices — the price of metals and raw materials — has been on the up and that's helped some of the country's traditional manufacturing heartlands, the north east, the south east and west midlands. the future though has a number of unknowns — some could be helpful, others less so. there's the government's industrial strategy — that could be a bonus, there's the prospect of trade wars — a negative. there's the productivity question, and just in case you'd forgotten — there's brexit. joining us now is lee hopley, chief economist at eef. first, let's look a

based tesco and germany's lando. but that is where the company strategy could help jadi dot com c.e.o. says the only retailer could acquire european competitors to help expand on the continent a move that would certainly change europe's e-commerce landscape and help j.d. dot com compete with amazon. jinping has become the first chinese president to visit rwanda it's his second stop in africa g m's to further promote china's role as one of the continent's biggest investors g.m. his wife and nuwan were welcomed by around us president obama and his wife is it comes out of an emerging economies some. china is heavily involved in building infrastructure on the continent including a new railway line in kenya but that project has many critics. these animals roam freely barely seven kilometers outside kenya's capital nairobi but their unrestricted lifestyle is endangered kenya has contracted the china roads and bridges corp to extend and modernize its main railway line the first leg connecting mombasa nairobi was completed i

in the graphic shows you that tesco is still huge.h the likes of sainsbury and asda, and write down their is aldi, but it is the fact tesco have been growing so quickly. some people have reported jobs being advertised in various areas, including in liverpool, at a site where there was a tesco, so there is a suggestion it could turn into one of these discount stores. and you don't have the likes bought to read the back pages this morning. incredible with lewis hamilton, you have rory mcilroy, despondent. he almost won it but he thought he had blown his chancesin it but he thought he had blown his chances in the long grass. and then you have greg rutherford, 2012 olympic champion, back inside where he won, and look at the agony on his face. he finds it hard to run because of his foot injury. and the story everyone is talking about, francesco molinari. a lot of tears on the back page. and one good one, wrinkles and boldness can be reversed. if you want them to be, i quite like wrinkles and baldness. they have tested this out on mice, and

s youth organization and are you going to tesco ration now i would have well it's relative sometimes it's just a situation in which the whole thing breaks out to be honest i was expecting this debate particularly in this session with two new parliamentary groups the f.d.p. which is back in the bundestag and the right wing populist a.f.d. it was clear to me that this new constellation what reshape public debate of the issue but i believe our response should be a european one i make a point of showing that this is how i see obviously and it's also our take on the issue in the human rights committee for you know and i want us to mention i thought about was it your impression that the rob between interior ministers over and chancellor merkel was actually about refugees. as and they come up at the end of the day that's a really good question i would say that it was about testosterone and power politics and not about the message we want to convey from the german parliament from the german government to brussels on to the rest of the world. and you that then there needs to be some reflectio

well i'm joined tonight by the german marshall fund of the united states mr tesco is an author and foreign policy analyst to his work at the german defense ministry as well as with nato he had a front row seat at the nato summit in brussels mr here's how it's good to have you back on the show maybe you can help us find some clarity truck declared victory today saying that everyone had agreed to his demands for spending four percent of g.d.p. on defense but that is not what we are hearing from other leaders what is the truth . the truth is that of course four percent was not agreed at the summit what we have seen is a classic trump in a sense we have seen a president who has escalated the negotiations and the proceedings really of the summit on that second day today and in order to increase pressure on the other allies and threatening even to basically withdraw the united states from the alliance and there was this kind of zero gravity moment today at the summit when you for all those present that was you know a moment where everybody thought ok you know is this the kind of show that we've

palace to check is later fifteen with the queen he couldn't have asked for more and he loves that so in tesco and for a private weekend nobody's quite sure who he's meeting so this is not yet over i think downing street over the white house keeping an eye on that story closely alex forrest whiting and studious and bob no reason in the heart of london following those anti trump protests thank you both very much for your reporting. let me now bring you up to date on some other stories making news around the world several dozen refugees have disembarked from an italian coast guard ship in sicily italian prosecutors are questioning them over reports that some of them had been involved in an attempted mutiny a number allegedly tried to hijack the vessel fearing they would be returned to libya the incident comes amid heightened tensions in europe over refugee policy. an explosion at a chemical plant in china has killed nine hundred people and injured twelve according to state media the blast happened in an industrial park several hours southeast of chengdu the capital of the south western sichuan p

the ft leads with europe's 2 largest supermarkets, tesco and carrefour — who are joining forces to buytopple pm" says the express — and reports that senior tory mp‘s are prepared to bring down theresa may's government if she compromises on the uk's departure from the eu. let's start with that extraordinary picture in the extraordinary story from the i, these 12 boys missing the nine days, many people feared the nine days, many people feared the worst but it appears they are alive. it's a story that has gripped the whole of thailand for obvious reasons. 12 young boys with their football coach, the wild boar footballers, went missing in a flooded cave. it has taken ten days to locate them. it's been an international effort with support from australia, the thai navy seals, american and british experts, all working round—the—clock to locate them. finally they have been located, alive but week. the warning is that it will still not be easy to get to get them out. they are underground in this complex, still flooded, the drivers say they can barely see their hand in front of theirface. it is

so how do retailers like tesco respond? well — more and more arejoining forces to fight back.ng prices to customers. tesco boss dave lewis has said that the fall in the value of the pound, after the brexit vote, is pushing up prices and warned that failure to secure a deal with the eu by march 2019 deadline, could lead to higher food prices in the uk. so lots of pressures on retailers and that has led to manyjob losses. in other business news, crude oil prices have fallen after president trump tweeted about discussing oil production with saudi arabia. the tweet suggests output could be raised by as much as 2 million barrels per day. however, the white house has now issued a statement backing away from specific numbers. the challenger bank monzo says losses soared last year after its banking ambitions led to a 336% surge in operational costs. the digital bank logged pre—tax losses of £33.1m in the year to february 2018, up from just £7.9 million a year earlier. and growth in china's manufacturing sector cooled off injune — according to an independent survey. this survey focuses

guardian sum it up as, the amount equivalent to nearly all of mcdonald's or three times as much as tescoed off facebook and they have revealed that about 3 million people have left facebook since the cambridge analytica data breach was revealed earlier this year and that was when something where something like 90 million profiles were breached. mark zuckerberg is taking the bulk of the hit from this, his own personal wealth, he owns almost 17% of the company and it fell from about 90 billion us dollars to about 71. struggling. 3 million european users have attended it. but it is still the norm? -- abandoned. although they have had this fall, the share price is still higher than it was a year ago and it still a huge, multinational east of —— beast ofa huge, multinational east of —— beast of a company. the mail is overthrowing it, the main problem is because it admitted it would hmmfia because it admitted it would forecast a decline in advertising resin you and it has almost reached saturation point. the problems the technology companies have is that the industry is based on innovation, and

the ft leads with europe's two largest supermarkets, tesco and carrefour, joining forces to buy own brandcosts. "brexit rebels threaten to topple pm," says the express and reports that senior tory mps are prepared to bring down theresa may's government if she compromises on the uk's departure from the eu. also leading with that story is the telegraph, it says foreign secretary boris johnson is backing eurosceptic mp jacob rees—mogg after he warned theresa may of a rebellion if she fails to deliver on brexit promises. the times also lead with reports of infighting in the prime minister's cabinet over the deal on brexit. and finally, the mirror says england football manager gareth southgate is urging his team to write their own history as their bid for world cup glory reaches the knockout stage tomorrow. so, let's start with the times. doesn't seem to have brought about much peace, theresa may's piece of? the conservative party is still negotiating with itself after two yea rs negotiating with itself after two years instead negotiating with itself after two yea rs instead of negotiating wit

humana was tesco has a center console arm rest he thinks it be nice to be able to link as our monitor but when he does he discovers. cannot creaks continuously if i say a pretty annoying especially when he's driving. they can all points out the soft top has two positions leaving only the roof open and position to which it's in now as you can see it hangs down partly over the trunk lid which can't be opened it with the top down to be what all the manual needs to do a gaze presence will when i thought i had nothing to hear. and for the top moves up to position one. and then you can open the trunk of. the model seize the trunk and so it isn't small the opening is not a lot will fit through their cases of water bottles and things will be hard to fit . apparently looks took priority over practicality. i don't think i'm on a well sums up saying all in all that he has three has his witnesses and its strengths it's apparent how much love went into the details it's the design that impresses him but at the end of the day design is always a matter of taste you know that's just how it is. just in

the la st the branding is appealing and in the last 18 months we have been stocked in places like tescoe. they find that is a better business model. we have ended up better business model. we have ended up in better business model. we have ended upina better business model. we have ended up in a retail environment and we sell online and things are growing there as well. thank you very much. in a moment we'll take a look through the business pages but first here's a quick reminder of how to get in touch with us. stay up—to—date on the bbc‘s business live page. with insight and analysis from our editors around the globe. and we want to hear from you too. let's see what other stories are being talked about on social media. richard hunter is back. another big company warning about brexit in the guardian. yes the difference perhaps with this story is we have got some ha rd with this story is we have got some hard figures from the company. a lot of what we have heard has been finger in the air stuff up to now. jaguar have spent 50 billion in the uk overthe jaguar have spent 50 billion in the

based tesco and germany's lando. but that is where the company strategy could help j.t. dot com c.e.o. says the only one retailer could acquire european competitors to help it expand on the continent a move that would certainly change europe's e-commerce landscape and help jadi dot com compete with amazon. ryan air europe's largest budget carrier has reported a steep fall in earnings in the first quarter net profits declined twenty percent the dublin best ally blames lower fares and higher fuel and pilot costs for the drop but it's still expected to reach its annual profit forecast of around one point three billion euros run as disappointing results come off to its decision to accept trade unions late last year strikes eyelets having crew continue to take their toll despite agreements with unions in britain italy and in germany. or ryanair isn't the only company presenting its quarterly results its i think season so let's get the latest from daniel cope a man of the front of stock exchange daniel who else has come out with figures what can we expect. yeah it's going to b

terms of sainsbury's, it is now working with argos, its bought argos, that is all happening, but with tescoh carrefour, what do sainsbury's need to do now? tough times in the uk grocery market, online sales gathering pace, and as you say, argos has been integrated into sainsbury's, which is going well, and now sainsbury's is going well, and now sainsbury's is looking to merge with undo, that is looking to merge with undo, that is with the competition commission at the moment, but that will allow to exercise more muscle in the market and roll—out argos stores within the asda estate, a tantalising prospect. much more on all the results that are around this morning on the business live page, including news that uber could be looking at a deal with careem, its middle east and rear —— middle eastern rival. it just middle east and rear —— middle eastern rival. itjust got its licence back to work in london, but it is now talking about a deal with careem, it could take a majority sta ke, careem, it could take a majority stake, a firm that is based in dubai. much more detail there on the business li

the uk chief tesco, charles wilson, is stepping down from the company board is stepping down from thepany board after his diagnosis for throat cancer. he has had operations, is undergoing treatment, but although the outlook is good for him he believes he needs to remain vigilant his recuperation. your're watching business live — our top story... britian's new—look cabinet is meeting in downing street as theresa may tries to press on with her plan for post—brexit trade with the eu despite two high profile resignations. that was andrea leadsom arriving in downing street, the cabinet meeting getting under way. we will keep you right across that, stay with the bbc for the latest developments on that. a quick look at how the markets are faring. in europe we have been going for 50 minutes, fairly flat but headed in the right direction. now for something entirely different! now, we do things on this show so you don't have to. and this next story is no exception. ben donned a hard hat and safety harness to test out london's newest attraction. it's called zip now and is the world s biggest and

tesco and a french chain want to increase their leverage with suppliers.y will manage purchasing goods. that is your latest bloomberg business flash. vonnie: wednesday join us for our second annual coverage of the july 4 fireworks spectacular at 8:00 p.m. eastern on bloomberg tv. ♪ tv. ♪ vonnie: live from bloomberg world headquarters in new york, i'm vonnie quinn. mark: live from bloomberg's european headquarters, i'm mark barton. this is bloomberg markets. let's check in on first word news. kailey leinz has more. in mexico it's a resounding defeat for the business oriented party to run the country for decades. mexicans elected the first left wing president in times. yes promised to fight against corruption and poverty. he is also try to calm investors fears asking to avoid raising taxes in real terms. longtime trump's lawyer michael cohen is suggesting you may cooperate with the special counsel's russia investigation. he says he says it was his family and country first. he also said he won't be a punching bag is part of anyone's defense strategy. he says

shares and tesco, little changed. abigail, how is it looking?bigail: we are looking at small declines, pretty remarkable considering the tech heavy nasdaq is up fractionally. we had a very strong i am -- that helped of those declines moderates. let's happen to the bloomberg and take a look at the sector composition for the s&p 500. most of the sectors are lower for the s&p 500, energy on bottom down 1.2% come up top, financials, continuing to recover from the 13 day record losing streak. we also have tech higher and utilities trying to flip green. is thenners, apple biggest point moves for the s&p 500 and nasdaq. buyingstors seem to be the dip which is true, too, for salesforce. we also have true -- twitter and nvidia trading higher. this is a chart for the bloomberg commodity index, a daily move and what we are seeing over the last role weeks, oil tradeeral weeks, the lower end it is not just oil trading lower on the day. copper, and gold, areinums so these some of the factors. is going to be interesting to see much of this coming on trade fear

it has been plowing money to close the gap with the market leader tesco and discounters such as aldidl. let's get down to deutsche bank, it is down 2%. to launder been used --ating to a a point $8.3 billion. this is after findings of an internal investigation of its money laundering breaches in september. it has caused a scandal in denmarl and consequently, shares. suffered ahead of today. down by 2%anske three that is a look at european markets. let's check in with bloomberg first word news with emma chandra. british police say two people are in critical condition after being exposed to what is being called an unknown agents. it took place eight miles from where the former russian spy and her daughter was poisoned by a nerve agents. prime minister has pleaded not guilty to corruption charges. a was arrested involving state fund and says he denies wrongdoing and will fight the charges. the senate intelligence committee in the u.s. are now supporting a finding that russian vladimir putin meddled in the 2016 campaign. prefveloped a clear erence for donald trump. there is a report that

they were able to hit milestone, but you have to think, this is a big moment for elon musk and for tesco -- tesla and electric vehicles. 5000 cars is nothing to slip at. brad: all right, thank you both for joining us. a story we are watching in an isort to cut costs, htc laying off the 200 employees and buy one. about a quarter -- in taiwan. that's about a quarter of its staff. they are struggling to hold onto market share. you may remember htc offloaded about 2000 jobs to google as part of a larger deal with the company late last year. dale isp, michael the companyrough ground up next. if you like bloomberg news, check us out on the radio. you can check us out on the bloomberg radio app, bloomberg.com, and on sirius xm. this is bloomberg. ♪ brad: the world's largest private tech company is going public. dell is climbing the returns by buying out tracking stock in it swap deal valued at $22 billion. the ceo and founder preached the benefits of it. >> as a privately controlled company, your time horizon is different. you reimagine your business, think about your business in years and deca

tesco is to form a purchasing alliance with a french retailer.t will increase leverage with suppliers. the lines between two of europe's largest retailers will combine annual sales of about 100 71 billion dollars for managing purchasing for branded goods and private label items. they expect to conclude the agreement within the next two months and that will last for three years. --n musk says tesla made tesla just became a real car company after meeting its production target. they produced 5000 of the cold -- of the cars last week. they built a third production line. move described by an auto analyst as insanity. the company's largest investor goes against the deal with the steelmakers supervisor board met on friday. that's according to a bloomberg source. they have faced months of pressure from activist investors. is less attractive. that's the bloomberg business flash. let's focus on trade and tariffs. auto companies and parts suppliers are urging the trump administration not to boast duties -- boost duties on imported cars. they are saying impo

tesco are doing all right, which we will talk about.ooking for workers. and also the hospitality sector has been mentioned. you mentioned good news for tesco? news that shows their strength. so we talk about price wars and tesco have announced that carrefour, they're going to work together and give them more strength asa together and give them more strength as a unit. they will do a deal together and say we want more the price reduced. sainsbury's and asda are also getting together.m price reduced. sainsbury's and asda are also getting together. it is i affects each other. thank you very much. with much of the uk continuing to feel the sweltering effects of the heatwave, demand for water is obviously sky high at the moment. northern ireland has had a hose pipe ban in place since friday. emma vardy is at north woodburn reservoir in county antrim this morning. it looks lovely, but there are issues? that's right, this is a very picturesque place, but an important one, this reservoir helps serve customers around belfast and the water will b

on the downside as well i am 1.3%.g at tesco, down the u.k.g to step down because of the cancer -- cancer -- throat cancer. we see the stock trading lower on that unfortunate news. hugo boss upgraded to a buy on deutsche bank and gaining on that. guy: the turkish executive president recep tayyip erdogan has issued an imperative for him to name the head of the central bank and deputy governors. pledgemade good on his to tighten his grip on montoya policy. he has -- monetary policy. p has named his son-in-law as economy czar. is benjamin.w he said he was going to do and now he has. >> yes, he has. ago, didhere to months an interview with you where he said he was going to take more control of the economy, and particularly monetary policy after the election, and he has done just that. guy: can you tell me what authority you know has? -- he now has? >> previously the appointment of the central bank, there was a time of advise, -- advice, consent, and compromise. the president would speak to the prime minister, the deputy prime minister of the econo

combining these two big retailers to take on the big giant that is tesco.he bigger story around the backdrop. is likely to show that st. mary's has lost market growth. it is coming from a position of weakness but certainly on track. let's talk about the risk radar. is closed because of independence days. let's have a look at how the market is doing with that in mind. many traders are out of the action later in the day. asia-pacific down by 2/10 of 1%. a little bit weaker in the asian session. bit of stability coming into the currency. this is the cmh for chinese offshore. 6.63. we had moved back away from that level. a little escalation in the chinese currency as a result of the pboc comments about the economy. they said it was all to do with fx forces. brent price of crude in as well. approaching that $78 per barrel mark. was talking about how $85 is now their forecast for 2019. we will be speaking with the european commissioner for migration, don't miss that exclusive interview. the migration story, european politics still part of the conversation. as get

tesco getting together. it: this is a response to trend we have seen.de seen prices get down because all of the retailers are trying to get people through the doors and are putting prices out. what you are seeing is more and gettingopean retailers together and trying to cut costs in the backend. that is what you are seeing here. they are trying to save money for the supply chain. and will be interesting to see how this reacts. guy: interesting to see how the supply chain reacts as well. bit of an chain a issue for airbus as well in continues to be a problem when it comes to the 320. benedict: we heard over the weekend, my colleagues reporting exclusively that airbus will come under pressure to deliver because of one set of the engines are having continuing issues. that is rippling through the supply chain now and production. as things stand now, we're year.y through the they might be able to catch up, but there is clearly pressure building and we will probably see it in the stock this morning. guy: we obviously have the airshow coming up as well. let's

based tesco and germany's lando. but that is where the company strategy could help j.d. dot com c.e.o. says the only one retailer could acquire european competitors to help it expand on the continent a move that would certainly change europe's e-commerce landscape and help jadi dot com compete with amazon. europe's largest budget carrier ryanair that's reported a steep fall in things in the first quarter net profit it dropped twenty percent the double bass line blames low affaires high fuel prices and increased pilots' wages for the drop but it still expects to reach its annual profit for cost of around one point three billion euros brian as disappointing results come after its decision to accept trade unions late last year strikes by pilots and covered through continue to take that told despite agreements with union britain unions in britain italy and germany. and that's all we have businesses back to sara no thank you so much here are japan where a scorching heat wave has killed almost two dozen people thousands more have been hospitalized and japanese authorities say

based tesco and germany's salon. but that is where the company strategy could help j.t. dot com c.e.o. says the only retailer could acquire european competitors to help it expand on the continent a move that would certainly change europe's e-commerce landscape and help jadi dot com compete with amazon. well it's back over to phil now taking a look at the long shadow of colonialism in india ahead and thank you yes to india where sex between two men or two women can be punishable by up to ten years in prison introduced during british colonial rule in than eight hundred sixty is section three seven seven of the indian penal code criminalizes sex all marriage between people of the same gender more than a century and a half later in two thousand and nine the delhi high court declared batlow unconstitutional with regard to sex between consenting adults but the supreme court overturned that ruling in two thousand and thirteen justices decided that repealing the law should be left to parliament the country's top court is now hearing arguments against the law and is expected to d

this is on tesco. what an alliance. anna: yes indeed. they created a long-term strategic alliance. about combining their weight in the market. they are saying this alliance will cover suppliers and join purchasing. if they come together, what kind of deals can they do with the likes of unilever and the businesses that supply them? there has been regulator to come together in the u.k. market. consolidation, the beefing up of supermarkets, seems to be one of the trends we are watching in the european equity space. we will get more details, but a fascinating story. let's get to the asian equity session. you went through the weakness there. this is from -- we are down by more than 1%. hong kong markets out of market. the yuan continues to go down. they are managing its decline, which is due to weakness in the data. we do see the yuan weaknesses continuing. we see euro weakness, down by 0.3%. we talked about what a tough time angela merkel is having at the moment, as she tries to hold her coalition government together. markets in asia to be dim view of the news about the lack of decisio

sales of televisions atjohn lewis, for expample, have doubled compared tesco say they put 75,000 giant. —— pork crackling is. —— pork cracklings. the boss of the beer and pub association has taught us that actually they are starting to see a bit of a boost. it has been great for the public industry, we have had three matches at the times of the day, worth 14 million extra points to the pubs. that could do worse, in sales, a boost of over £50 million for the pub trade. so presumably a lot rides on tonight from an economic point of view? lot rides on tonight from an economic point of view?” lot rides on tonight from an economic point of view? i hope they are considering this, looking at the gdp figures before they go to play. the further we go, they reckon if we end up winning the world cup, there could be a £2.7 billion boost for retailers over that time. so it does have a tangible effect, at the end of the day, whether these figures are right or not, it is nice to see the retailers having a bit of a better time after what has been quite a relentless run of bad news for them. hopefully

tesco we believe. f.at's it -- that's our believ yet with slavery and fest politics as never before, he had reached a point of wary hopelessness. americans could not move, he says at this point, from their downy seats of inaction. what way to move, want to do? to understand frederick douglass's recurring attacks on the declaration of independence, you first have to understand how much he loved it. adored it. was grateful for it. wherefor a moment -- would the abolitionist cause in the 50 years before the civil war, where would it have been without those creeds? what would they have appealed to? , at least thet preamble of the constitution, which the abolitionists were so fond of pointing to, and in the bill of rights, that's there, too. that bill of rights that we never agree on in america, do we? we will internally disagree about the bill of rights. certainly the second amendment. a bunch of others there, too. where would the abolitionists have turned? they would turn to the bible, over and over and o