it actually means defining a system that fits the united kingdom by the united kingdom for the united kingdom. and to this we say there are benefits in what we term a tariff system, an immigration tariff system. now, over the course of many years brexit campaigns have been called many things. indeed, they have been called so many things i don't think ten minutes gives me enough time to relay at least part of them. but what we propose and what other people have proposed in a nationality neutral immigration system is by no means the racist card that our opposition and our opponents have tried to cast us as. the idea of an imgration tariff, however, we believe has a massive benefit in alleviating the burdensome regulation that a state-sponsored tariff -- state-sponsored point system might generate. indeed, we also believe that the system as administered in our plan will allow for net benefit to take into account the skills and the income generated from the highest skills individuals that come to the united kingdom. ultimately, we want to generate the assistance where the best people from

it actually means defining a system that fits the united kingdom by the united kingdom for the united kingdom. and to this we say there are benefits in what we term a tariff system, an immigration tariff system. now, over the course of many years, brexit campaigns have been called many things. indeed, they have been called so many things i don't think ten minutes gives me enough time to relay at least part of them. but what we propose and what other people have proposed in a nationality neutral immigration system is by no means the racist card that our opposition and our opponents have tried to cast us as. the idea of an immigration tariff, however, we believe has a massive benefit in alleviating the burdensome regulation that a state-sponsored tariff -- state-sponsored points-based system might generate. indeed, we also believe that the system as administered in our plan will allow for net benefit to take into account the skills and the income generated from the highest skilled individuals that come to the united kingdom. ultimately, we want to generate a system where the best people

, by the united kingdom for the united kingdom.his we say there are benefits and what we term a carrot system. over the course of many years they have been called so many things and i don't have time to relate even half of them but what we propose and other people propose in a neutral system is by no means the racist card that our opposition and our opponents have tried to cast us as. the idea of an immigration packed however, we believe has a massive benefit in alleviating the burdensome regulation that a state-sponsored points based system might generate. indeed we also believe that the current system as administered in our plan will allow for benefit to take into account the skills and income generated from the highly skilled individuals that come to the uk. ultimately we want to generate a system where the best people from around the world want to come to britain, can come to britain and find their home in the united kingdom. as a result, i think the current system lays out a plan for this without the state-sponsored burden tha

centuries to have so much to in modern time, so it is part of the contemporary scene, first in the united kingdom with david hunt, and then in the united states with william hubbard. so, turning first to david hunt. with you so much for being us. it is as if her majesty herself were in the room. ] huckles >> in recent years, the events coming out of the united kingdom, the constitutional change has very much been in the air. probably there is nothing like the 17th century. we talked about the transformation of the house of lords, the creation of a supreme court, the passage of the human rights act of 1998, the scottish devolution, and recently the failed referendum on scottish independence. a referendum about to take place i think in june, in just a few weeks time, and whether the u.k. will exit the european union, and there are proposals floating around to codify the bill of rights and perhaps even have a written constitution, so the question i would put to you this morning is given all of these ideas stirring, what place does the magna carta legacy have? mr. hunt: well thank you very much, prof

with david hyde, and then in the united --tes with william hubbard first in the united kingdom with david hunt. >> in recent years, the events coming out of the united kingdom, the constitutional change has very much been in the air. probably there is nothing like the 17th century. we talked about the transformation of the house of lords, the creation of a supreme court, the passage of the human rights act of 1998, the scottish devolution, and recently the failed referendum on scottish .ndependence a referendum about to take place i think in june, in just a few weeks time, and whether the u.k. will exit the european union, and there are proposals floating around to codify the bill of rights and perhaps even have a written constitution, so the question i would put to you this morning is given all of these ideas stirring, what place does the magna carta legacy have? >> well thank you very much, professor howard. you are a difficult act to follow. i want to thank you to everyone who is here this morning. thank you for welcoming me so warmly to this conference. it is a great pleasu

patches of the united kingdom, those who voted for brexit, you might think there isn't the demand. m: it is fascinating what the reach is and what the bank of england will do for great britain. the united kingdom. timeout. we will continue this discussion coming up. a conversation with brian moynahan of his bank of america. look for that at the 7:00 hour. this is bloomberg. ♪ francine: this is "bloomberg surveillance." tom, this is what we picked out for the morning must read. is an advisor to jeremy corbyn and has been on the program many times and she writes concerns at approaches to industrial strategy can lead to incumbent companies and sectors winning unwanted favors from governments through persistent lobbying. the bottom line is that the argument should be the best way to help drive growth. let's get to our guests here in london. simon wells and simon kennedy. simon kennedy, how much of the debate in the u.k. has switched todemanding -- switched abandoning austerity? simon kennedy: i think the debate has changed but whether that is followed by realities is a different thing.

great britain with possible exception of the far left has embraced free trade as the future of the united kingdom and stands behind it and wants to have more of it. whereas, in the united states we are seeing both leading candidates basically opposing and dissing it. and i think that's a terrible -- that will be a terrible choice come november. and that is the fundamental difference. and which makes the election in the united states, say, more dangerous. >> i'll just add one final point to that. that i've given u up trying to project the results of elections or referendum because it's been proven to be quite conclusively that people know something about these things, are as good about getting the outcome wrong as anyone else is. but if any candidate achieves the 50% vote share and 75% turnout they will have done well. and i don't want to sort of predict anything terribly hasty but i think that the winning margin of overall total vote in the united states come november is going to be a good deal less satisfactory and sizeable than e winning outcome than the brexit referendum was. therefore, i'm pr

. >> >> what would you recommend about the united kingdom that is the investment in the city of london to make get harder senate this is the big challenge for the united kingdom the reason i paid such high rent in london when it came back only recently because everything is prohibitively expensive as criminals are buying property in london with very little control now hindsight in part of an organization called the initiative which is the independent seeking to make it more difficult for the russians to have their ill-gotten gains in the upper west. one of the places is great britain which is a favorite playground to establish residency the most with the rule of law. would not have had much use for that the once they reach us certain point so it is up to the british public and parliament and it will be a sacrifice because some of these people can take their money elsewhere but there is an increasing international movement to make it much harder for those to enjoy their wealth in the west and certainly england will have to be the prime focus of that. >> to more questions. >> i have neve

modern times so now we turn therefore to some thoughts of the contemporary scene, first in the united kingdom with david hunt and then in the united states with william hubbard so turning first to you david hunt, thank you so much for being with us it's as if her majesty herself were in the room. in recent years if one follows events coming out of the united kingdom the constitutional change had been very much in the air, probably at no time since the 17th century. we talked about the transformation of the house of lords, the creation of the supreme court's, the passage of the human rights act, scottish devolution and recently a failed referendum of scottish independence, a referendum about to take place i think in june in just a few weeks time on whether the uk will exit the european union and there are proposals floating around to codify a bill of rights and perhaps even have a written constitution so the question i would put to you this morning is given all these ideas story about, what place does magna carta and its legacy have? >> you are a very difficult act to follow, may i say. thank

therefore to some thought of the contemporary scene, first in the united teen them, and then the united states with william harbin -- the united kingdom, and then the hunt. states with william if one follows events coming out of the united kingdom, change is very much in the air. there's probably no time like it since the 17th century. about the transformation of the house of lords, the transformation of the the human rights act of 1998, scottish revolution, and recently the failed revolution -- referendum on scottish resolutions. there are proposals for any row to codify a written constitution . given all these ideas stirring about, what place does magna carta -- magna carta and is legacy have in this debate? course you are a very difficult at to follow, may i say. i want to say good morning to everyone here this morning. thank you for welcoming me so warmly to this conference. it is a great pleasure for me to be here to talk about one of britain's greatest conversations -- contributions. i will stay for the record that i am not a judge or i have never pass any bar exams. offer,impressions that i being well versed in the legal langua

looking at the united kingdom economy. ing where we are in the third week of august versus the third week of june. we will shift in the next hour to a terrific piece of research. on the overvaluation of the market. brian levitt has an optimistic message. he is with oppenheimer funds, and he has truly original research on the s&p 500. this is bloomberg. ♪ francine: this is "bloomberg surveillance." the strongest politician in the eu is losing in the polls at the moment. angela merkel has been saying our rallies the last couple of days that flight -- that fighting crime and islamic terrorists will be a problem for years. it seems the chancellor has been adopting a law and order stance. let's get back to christian schulz, european economist at citigroup. the eu seats -- needs a strong head. she is trying to get the eurozone together. concerned that her approval rating waning means that she will be softer? christian: her approval rating has waned, but her party's has not. because in terms of approving politicians, all of them c

we are still the united kingdom. r values remain exactly as they were. >> on friday morning, i woke not only with a song in my heart, but also with the words of the -- in my heart, that is he has put down the mighty from their seat and he has exalted the humble and the meek. >> a few days later came the verdict of the archbishop of canterbury. >> the course of the campaign was both robust as it should be on such great issues but at times, both sides were not just robust but unacceptable. through those comments were created cracks in the thin crust of the politeness and tolerance of our society through which since the referendum we have seen an out welling of poison and hatred that i cannot remember in this country for many years. >> how about this verdict from a former cabinet secretary? >> i do not remember us in an unholy mess as we are in now , except perhaps after the affair. it is an existential and a political crisis. >> david cameron argued that matters were out of his hands. remain campaigners and labor were g

is next with nearer my god, margaret thatcher discussing her time as prime minister of the united kingdom. the autobiography, undocumented mark stein is fifth. followed by the bloom's critique of american culture. next is senator with the debt bomb. wall street journal columnist peggy, the time of our lives is a collection of her columns and comes in eighth on the list. finishing off the new boston post list of suggested summer reading are randy barnett's examination of the constitution and how it applies to politics today and restoration, another book by george will on term limits and a functional democracy. book tv has covered many of the books over many years, you can watch them on our website incident booktv.org. .. "in depth" airs the first sunday of every month. "after words" is a one-on-one conversation between a author of a newly-released none fiction book, interviewer, public policymaker or legislator with familiar to the topic often with

what do you think about the united kingdom posted brexit? e seen moves from italy into spanish bonds in particular . this is only back of a weak pound. will discontinue? hiswill t continue? >> these businesses will perform during the early stages of brexit. it is a long way until we really know what is going on with the economy and how safe it is. ask me that question again next year and we might have a better clue. but at the moment, lower sterling will be good for the businesses. manus: we will pick up on that theme when we get back. luke hickmore stays with us. caroline: up next, beware the ground reversal. one pension fund is morning diversification is getting harder and harder. and the dividend is back after record profits. australia's biggest airline pays its first dividend since 2009. and merkel on tour. the german chancellor does the post brexit rounds. can she convince the 27 remaining states that the eu is the path forward? this is bloomberg. ♪ caroline: welcome back to "on the move." we are 10 minutes into the trading day. down.oxx

and a wild warning, for people in the united kingdom. the british resort community of saint ives is telling people to beware... of dangerous ?seals. they may look cute and cuddly... but experts say they are predators and are known to bite humans and pets. seals also have sharp teeth and can carry diseases. and even though the seals are beaches... experts are telling humans to stay at least 150 feet away from them. ((walter/jen)) and here at up in pasco county. this photo from the pasco county sheriffs office, sums it up. if you look closely... you can a family of ducks going right in somebody's ?do you get caught up in the olympic excitment? we know comedian "leslie jones" does. up next... her hilarious take, on last night's highlights. plus: alright, alright, alright! one u-s athlete got a great highlight from the olympic games. she got to wrestle... with a hollywood star. ?who needs a medal? at longhorn, steak is all you need. its not all you get. longhorn's great american steak dinner for $12.99. perfectly seasoned sirloin with your ch

this is going to be more pain in terms of load yields when it comes to the united kingdom. , the companies that remain really focused on the united kingdom as the domestic market? >> i think you are quite light, caroline. the interest rate environment is going to be quite weaker. there is a possibility of quantitative easing on thursday, which could drive bond yields lower and create a flatter yield curve, which affects the banks. so, i think some of those things will be under pressure. very cheap on a price to book basis. we have seen this story out there for a long period of time. manus: and cameras could tell the basic reaction of a bloomberg analysis, it would say it all. give me your interpretation. >> you got the sustainable returns and they are so much lower. we are talking mid-single digits. manus: this is on net interest income. >> know, this is on return equity. if you are banking in a 5% return, you are applying no growth at the moment. we note these banks -- we know these things are shrinking. you can certainly explain why these banks are where they are. tests al

. >> >> what would you recommend about the united kingdom that is the investment in the city of londonto make get harder senate this is the big challenge for the united kingdom the reason i paid such high rent in london when it came back only recently because everything is prohibitively expensive as criminals are buying property in london with very little control now hindsight in part of an organization called the initiative which is the independent seeking to make it more difficult for the russians to have their ill-gotten gains in the upper west. one of the places is great britain which is a favorite playground to establish residency the most with the rule of law. would not have had much use for that the once they reach us certain point so it is up to the british public and parliament and it will be a sacrifice because some of these people can take their money elsewhere but there is an increasing international movement to make it much harder for those to enjoy their wealth in the west and certainly england will have to be the prime focus of that. >> to more questions. >> i have never

the united states, more than 6 million of american jobs depend on experorts to mexico. our country buys more from the united states than from germany, spain, france, italy, japan, and the united kingdom together. ma many jobs in the manufacturing industry in the united states were sent to other regions of the world, precisely because together, we have developed a competitive manufacturing platform in the north american region, in average, 40% of the ex port content of mexican exports, isn't on american territory. we must work together to avoid that sources of employment might leave our region. none the less, this does not mean the free trade agreement of north america doesn't have room for improvement for the benefit of both. temperatu telecom is an agreement that was signed 22 years ago. the next president of the united states will find in my government an ally with the willingness to contribute a road to modernize telecom with a view to make it more effective in generating quality jobs, better-pay jobs in both countries. i do not believe that trade must be considered to be an effort that gives no results where for one to win the other one must lo lose. on the contrary, it must be v

what happened to precipitate these changes in the united kingdom? they came about through problems. >> like a national scandal after a series of high profile false confessions including an arson murder case eerily similar to robert davis'. >> instigated of the way prisoners were dealt with in custody. >> the result? a complete overhaul of the system. every officer in the uk retrained to rigorous standards that apply in every region of the country. strict rules were put in place for suspect interviews. all interviews in serious cases. video recorded. >> there were two cameras up there. one gives a head and shoulders shot of the interviewee and a clear picture of you. the other is a global view of the room. everyone who's in the room is shown in the picture. that's about showing exactly what happened. >> and this was key. no more lying. in america, it's legal for cops to lie to suspects. not here. >> could you, for example, go into this interview and say, i have a certain specific piece of evidence that tells me you're guilty if you don't have that ev

jonathan: the focus on the united kingdom. bank of england to get to that one billion target. david: they tried to sell that nobody wanted to buy. we have german bunds reaching record low levels. alix: .9%. had aday in the u.s. we great demand for three-year treasuries. it was after those weak

i would suggest that the united kingdom is not a banana republic. y to raise rates for 4% inflation? of the the stated aim bank of england and the fed get behind the curve. they want the inflation to run hot get behind the , and they will hike into a higher inflation environment. they would rather be behind the curve. i think it is a considered strategy. francine: what a jew make of mark carney? she went to paint saying that the country will not be hit by negative rates. he seemed cautious of the outlook. is there a concern that the market turns around and says the fact that he is done so much in qe so soon means it will get worse than we thought? adam: i think we need to wait and see. bear in mind that we have had not a single hard activity data point post-referendum. the duration of the qe program is longer than most expected means that we go through a long time where we look at the q3 and q4 areow before we get a big moving markets or expectations for another round of easing. from my perspective we have a of range trading and range bound markets.

. >> trump used his deep south visit to draw parallels between his campaign and the united kingdom's to leave the european union. he trotted out nigel fa raj who led the uk independence party as it spearheaded the brexit vote, but trump continued his push to plant a wedge between clinton and minority voters. in boldest terms yet to which clinton responded. >> it's time to give the democrats some competition for african-american votes and for hispanic votes. hillary clinton is bigot who sees people of color only as votes, not as human beings worthy of a better future. >> donald trump has shown us who he is and we ought to believe him. he is taking a hate movement mainstream. he's brought it into his campaign. he's spribringing it to our communities and countries. someone who questioned the citizenship of the first african-american president who courted white supremacists, who's been sued for housing discrimination against communities of color, who's attacked a judge for his mexican heritage and promised a mass deportation force is someone who is very much peddling bigotry and creds yo

are >>> the world's largest aircraft takes a nose dive and is damaged during a test flight in the united kingdom. developers of it say the blink-shaped airship sustained damage. the crew was safe, though. no injuries are reported. this is a hybrid of a blimp. it's also fuel than a plane but can carry more conventional loads than an airship. >>> training exercises in alas with transport planes. they dropped 500 paratroopers over a joint base. this is meant to train soldiers and airmen how to seize an airfield in enemy territory. 90 days of planning went into the training exercise. >>> if you are a big prince fan, you will like this. consider it the graceland for a new generations. paisley park in minnesota will be open for tourists starting this october. only a few hundred people have had the opportunity to tour the complex. it house uses his home and music studios. an application has been submitted for the 65,000-square foot facility. visitors will be taken studios, rehearsal rooms and a lot more. tour tickets go on sale on friday. if you want to check it out, we have a link at our website, news

withwhat david was saying, populism in the united kingdom. the elite, so they are ready to latch onto whoever screams. who screams the most in the united states is donald trump. tom: luigi zingales and david woo with us. on the political discussion of america, start your week with mark halperin and john heilemann. they have a lot to talk about, and of course their immediate take on mr. trump's economic speech. worldwide, this is bloomberg. ♪ francine: this is "bloomberg surveillance." i am francine lacqua in london. tom keene is in new york. the stimulus last week -- they talked about negative rates. i was not quick enough to do a chart. on very graciously -- what a gentleman -- did it for me. this is the pound-dollar chart. beauty,ty, that pure tom. thatan see the swing lower we saw at the end of june. luigi zingales is with us, as is david woo. david, what does pound tell us weut the future for the u.k. still need proper data for the end of july, not only sentiment, to show us how much investment has been impacted. david: last week i was in

the american giant already has more than 3800 restaurants across the united states, canada and the united kingdomw is try to get some market share in paris. tastet have come to barack obama's favorite burger. the foodies have lined up for hours at the doors of five guys that are not it opened in paris. the american delicacy cost around 15 euros here double the price of other hazardous. >> there are some good shakes. the people behind the grill or real showman when they service. >> every year more than a billion burgers are cooked in france. the country is the second-biggest birgit prinz consumer in europe. it has captured the attention of the american giant. >> there is enough room in the market for all the competitors. there are 15 free toppings for every five guys burger which means if you ate a five guys burger every get -- day it would take you 15 years to eat every possible type. >> they are facing tough competition in the field of gastronomy. they turned american fast food into gourmet meals. úgd 08/01/16 08/01/16 [captioning made possible by democracy now!] amamy: from pacifica, this i is

the united kingdom is one of the few countries that doesn't give any cash prizes to its medal winners. to securehletes hope lucrative sponsorship deals to help their bottom line. and income study of american found those that ranked the top 10 of their event earn less than $15,000 per year. the olympic medal themselves, they aren't actually worth much. 1% of real gold, a market value of $600. for those lucky few who get to take them home, it is priceless. michelle: quite a lucrative business. thank you very much. delano with the business roundup. live from paris is back in just a few minutes. 8úxúbq 08/05/16 08/05/16 [captioning made possible by democracy now!] amy: from pacifica, this is democracy now! >> you r remember the phrase, thinking the unthinkable duck of or that 9/11 was the of the goebel and we had a think about it. this is another one of those that is pretty hard to wrap your brain around. i have been watching donald trump for 30 years in new york city. flflorida and that, 35 years. he has always been the gold standard for a big honking hubris. it was as much a shock to me

i come to you from the united kingdom. we saw experts from all over the world. the international monetary fund. we saw moodies. we saw polls. we saw global leaders giving us project fear, telling us that if we voted not to be run by a bunch of unelected old men in brussels -- it's okay. they don't like me either. it doesn't really matter. does it? >> this is the british guy preaching the gospel of what happened on june 23rd with the brexit vote to a bunch of people in mississippi who are not quite sure if when he says brussels that's supposed to be a good thing or a bad thing. are we against brussels? are we supposed to cheer? this is a brexit? this is the exit with a biscuit. i'm not saying it went over any worse in mississippi than anywhere else in this country. just before any generic republican audience anywhere in this country, this kind of thing is getting up and preaching aud rattic equations. someone will have their hair rise, but most people are waiting for what to say and think and this means nothing to them and is it over? this is weird. it's ten week

. >> the united kingdom's terror threat level remains at severe which means an attack is highly likely. >>> this morning, a young girl is suffering from possible life- threatening injuries after being hit by a car. it happened at west her avenue and south may fair. the girl is 12 or 13 years old. the car that hit her -- the driver remained and is cooperating with investigating. the driver has not been cited. >>> some residents avoid crossing that intersection because of the heavy traffic. >> it's so horrible that there's somebody hit in the street like that. >> there's no safeguard for the pedestrians. >> we talked to police but they did not have statistics readily available. it's a 20-mile-per-hour zone. and neighbors say many cars go faster. and it's hard to see cars because of the fog. >>> there are reports -- to refocus donald trump's campaign. they are trying to persuade him to focus on campaigning against hillary clinton. they are concerned about his refusal to endorse paul ryan. >> he's behaving like the primaries. he has not made the transition to being the potential president

very interesting analysis piece about what his convictions mean about freedom of speech in the united kingdomyou can see the title here. the conviction shows free speech is not without limits. jailing a person for the words they have spoken often trouble anyone who believes in liberal democratic values. the independence is to protect those democratic values, it is sometimes necessary to be intolerant of tolerance. catherine: another massive debate. let's move quickly to the olympics. not quite as controversial. with a smilinger relaxed kind of way. >> this is the chinese swimmer. you may have already heard of her. she has become an olympic sweetheart because of her very candid interviews. you can see this article on buzz feet applauding her for giving an early candidate interview about where she talked about the fact she had got her. period the day before a very important race, a relay race in which the chinese team came in fourth. periodid i started my last nights i am feeling tired. she said it was her fault she did not do as well as she usually does, but she has been praised for breaking t

this happened in the united kingdom. you can see, the plane was forced to land on the water.. and flip upside down. the pilot reported a problem before the landing. the pilot is okay tonight. check out this dramatic 'firenado' in oregon! a fire department shot this video of the 'firenado' the crew tackled a five- acre fire burning fields with the flame- filled vortex rose from the ground. while dramatic -- firefighters got the fire out with no damage to buildings -- and no injuries. and check out this unique rescue -- connecticut e-m-s worker -- jumping into action to save a squirrel with a yogurt cup on its head. one worker tries to grab the squirrel... but in the squirrelly animal manages to get away. the "second try" was successful...the first responder able to snatch the cup off.. and off it ran into the woods. it appears the another hot and humid day in the books, with highs in the mid and upper 90s and the heat index of 100- 108. tonight will be fair with lows in the low and mid 70s. tomorrow will change as high pressure at the surface and aloft keeps us hot, humid, and

the alternative ways of making a living, youtube user look what he built in his backyard in the united kingdom. it is a gigantic swank that will bolster you 3030 feet up in the air. he has a 25-kilogram counterweight on it he built it goat pro footage to go along with it. if you can photograph and put it on youtube the users will come and you will get rich, 1 million hits. >> were here about chasing hotshots. these are domestic prodigies. i got my little gymnastic outfit to join in the workout. let's see see how i do. let's try this on. now that i have my leotard, let's go chasing little >> you guys witness team usa win gold in gymnastics in -- this is where it starts with team hotshots as young as four years old, five, six, seven. they're all here it they're all here to and they are all trading. >> four. you are really special so right now they are at the bar and what they are learning is upper body conditioning. >> is that right? >> yes, making sure making sure they are building the muscles they need on bars, it's conditioning for their hands come all of the skills they will need at the as a

are live from bloomberg had quarters, covering stories out of chicago, brazil, washington and the united kingdom. u.s. stocks slipping for the first time in three days. it appeared earlier losses banks to that unexpected result from d eere, applied materials and foot locker. vonnie: could the rally keep going to opec's informal meeting in algiers? vonnie: paul manafort resigns from his post. is the trump team staying on message? lisa: markets close in two hours. julie hyman has the latest. julie: stocks still trading lower here. set for the first weekly declines as well in several -- the first down week in three. for the nasdaq, the first down eight. the defensive groups doing the worst today. take a look at the imap for the map of the groups on the move. utilities and telecoms the worst performing groups. like telecoms and utilities are down because bond yields are up. we tend to see an inverse relationship there. but the 10 year end to your yields up by five basis points today. this is a reversal of what we've seen this week. two-year yields up by five basis points today. the market is not acc

it's a holiday in some parts of the united kingdom. london out today, scotland not enjoying the holiday, the rest of the united kingdom is. light volumes in certain markets. let's show you what's going on on my bloomberg this morning. i will start not with my gmm function, which looks quite interesting. let me take it to the wpi. this morning and let's not unlike what we saw in tokyo, a negative open for european indices. cac is called down, dax is called down. a softer start for europe. but let's go back to the gmm and show you what's happening out in asia. i direct you to this top corner. the nikkei is up by 2.3%. why is the nikkei rising? it's fairly straightforward. word from yellen that rates may be going up; word from corroded that there may be more action from the boj. the yen is down against the u.s. dollar. these two are closely correlated, and equity markets are popping. it's the exporters, the car companies that are doing well over in tokyo. that is the story that is really we want to watch. as we work our way toward payroll,

we hear from the ceo -- indian corporate the becomes the first issued in the united kingdom capital. e move." the technical issues affecting the euro next, we'll start to see movement at 9:45. in two minutes time, will have a 15 minute opening phase -- derivatives will start to trade soon enough. let's get out to the bloomberg business flash with juliette saly. .uliette: caroline, thank you sony shares have risen after the company posted a surprise first million.rofit of $25 analysts we surveyed were expecting a $380 million loss. -- the main manufacturing site, the digital camera image. nintendo fell in tokyo after the hit game pokemon go dropped. last week shares posted their biggest decline in more than two decades. while pokemon go has been a social phenomenon, the company says it doesn't expect a major earnings boost from the app. that is your bloomberg business flash. caroline: juliette, thank you very much. there is a very busy week ahead for the market. today we continue to get the pmi manufacturing data out of the eurozone. we are minutes away from the italian number coming o

banksture for british will be "dependent on the model of relationships the united kingdom intends to eu." thretheresa may will fight for the city to retain passporting rights. announcing the security of its cardiac devices in an effort company's deriaail the purges. move.ke about the >> is appears to be a company that for years, has put patientsbefore when it comes to cyber security. we think it is important that users are told the risks. we think there is a good chance they are about to lose half of its revenue due to device recalls. you'd' --hink saint jude says the allegations are completely not true. caroline: closer to home angela merkel is tripping around warsaw today on the last stop of a busy tour. yesterday,n estonia saying they could overcome britain's decision to leave the eu. germannow joined by our editor for bloomberg news. what she really trying to hook in on this tour? >> she is really trying to map out where the eu goes from here, which of course, is a process that is only starting now. you have also had the summer break in europe, which traditionally means downtime.

governor mark carney says the economic outlook in the united kingdom has changed markedly. e bank unveiled its biggest downgrade to growth in 20 years. carney says he is reducing uncertainty. reporter: the bank of england is using all the tricks in the book. in the wake of the brexit vote, it announced a huge stimulus package. interest rates were cut to a record low of 25%, and the banks will also add money to the economy, led by 60 billion pounds worth of government bonds. the announcement comes as it slashed its growth forecast. >> cumulative gdp growth is expected to be 2.5 percent lower by the end of the forecast period than was the case in may. balance, the capacity is expected to open up, and the unemployment rate expected to rise to about 5.5% over the next two years. reporter: that forecast means the country will merrily avoid recession, with 0.1% growth in the third quarter of 2016. >> looking forward, i think they are likely to do further action, but they have frontloaded it, because they really don't want to see it go down the line and the economy deteriorate mass

sweden came in second followed by the united kingdom. singapore was ranked sixth, the highest among asian countries. japan came in at 16th place. the organization says japan has high quality research and development but has failed to create new products and services. china has joined the world's top 25 for the first time. the organization says that, despite china's rise, there's still an innovation divide between developed and developing countries. they say that economic growth is more likely to come not from totally new services but by combining multiple technologies to create something new. well, more people are making the switch to l.e.d.s. energy efficient lights are an obvious way to save money. so product developers never sit still. they're working on ways to shine the light into a whole new space. nhk world's >> reporter: an art gallery. you can hear music but where are the speakers? the sounds are coming from a tiny light and sound show beaming from above. ♪ >> translator: this functions as a lamp and as a speaker. i decided to us

since then he has written for many parts of the globe including from mexico, brazil, japan, and the united kingdom and further. more recently he started the times editorial board where he wrote about business economics and related members and today he writes the economic column for the times. atwater's background helps to explain his keen eye and unique analytic skills. he has a degree in physics and he has a degree in quantum fields of fundamental forces. i've absolutely no idea what that means, but i have always been very impressed by it. so welcome jim and welcome eduardo. [applause]. >> thank you for those kind introductions. as i think you just heard, my book it deals with five topics, any one of which could be a lecture of this length, but only one of them fits. and only one of them fits the time allotted tonight. so tonight, i'm going to talk about one of the five topics i'm really interested in and that is, inequality. so, ours is is an exceptional society. applicable for many reasons. i learned that quite young. one of the easy exceptionalism i was told about was that the united states ha

we have a project it deep mind using the national health service from the united kingdom. they have a large number of blood samples. trying to predict the prevalence of acute kidney injury. it's a common source of death in hospitals in the u.k. we have early results that we have materially stabilized. we just study the outcomes and then we give the doctor heads up. saying this patient and his combination is far more likely to need intervention in the next hour. charlie rose: i will be going down to washington to interview fbi director james comey. he's been at the forefront, the loggerhead between the f.b.i. on the one hand and national security issues. at the same time encryption. where do you come down in terms of somehow in the national interest on both sides finding a olution? schmidt: the industry is united in saying that the government forcing us to weaken encryption is a bad idea. if we're forced by law to weaken encryption, there are people proposing that, it won't be just the government that has access to your information on your phone, it will has be the bad guys.

fiscal policy is incredibly important for the united kingdom. this is a global trend. we see the japanese stimulus. we see government spending increasing. the budget deficit in the united states is rising it austerity is dead everywhere. thank god. countries have worked out that despite the fact that there is optically high, they have in or miss amounts of physical space especially their own down currency -- have their own currency. the debt stabilizes recently, nobody is talking about that. we are fine where we are and so is the eurozone. absolutely, i would love to see a sustained program of intersection starting as soon as possible stretching out into the future, giving brady -- giving business certainty, pushing more money into that can structure construction. helicopter money is off the table and we have plenty of policy options before going there. from if you regulations chancellor hammond. david, think you very much. david steps stays with us. caroline: stay with bloomberg for that boe policy decision and inflation report. we will bring that to you live at 12:00

this way -- >> this is to highlight of issue of black lives not mattering, one that's alive in the united kingdomn the big movement in the united states. we have our own problems here. for example, more than 1,563 people have died in the united kingdom. as a black person who's twice as likely to be represented in that figure than white counterparts. >> an inquest in 2014 found that duggan was kill ed -- killed lawfully even though he didn't have a gun and was shot and killed. >>> air strikes happening on a daily basis. the latest video that claims to show the damage to two once-vibrant cities. >>> later, the amazing story of an olympic rower once terrified of water and grew up in a drought-stricken village in india. wow. be the you who doesn't cover your moderate to severe plaque psoriasis. be the you who shows up in that dress. who hugs a friend. who is done with treatments that don't give you clearer skin. be the you who controls your psoriasis with stelara® just 4 doses a year after 2 starter doses. stelara® may lower your ability to fight infections and may increase your risk of infections an

this guy lives in a zoo in the united kingdom. you can tell... he struggles with the whole climbing thing.. he falls.. and generally looks unsteady... on the vines and ropes around his enclosure. maybe an older monkey can join in fort bragg soldiers-- joining the fight against isis-- will leave later this week. members of the '18th airborne corps'-- will say families 'friday' afternoon-- after a deployment ceremony. a total of about 450 soldiers from the 18th... will go to kuwait... as part of operations 'inherent resolve'... that's the name of the operation against isis. there's a new way to get an 'uber'-- here in the triangle. starting today, riders in raleigh and durham can 'schedule' a ride. you'll still be able to get an uber the regular.. on-demand way... but now if you're planning a trip at a specific time-- your ride can be 'waiting'. uber users can schedule a ride on days in advance. 'mountain bikers' have a brand new place to ride-- in the all american city. fayetteville- cumberland parks and recreation-- says 3 miles of mountain bike t

coming out of the united kingdom. alth verified. >> reporter: documents reveal e- mails, lab reports and thousands of dollars worth of cash exchanged. both are accused of selling the drugs knowing people were buying them to get high. >> everything is legal. not for human consumption. people want to get high and there is nothing you can do to stop that. >> it was a bad decision. a really bad decision. >> reporter: he is stick to his answer -- >> no comment. thank you. >>> navideh forghani, abc 15. >> he is a u.s. air marshal, we reached out to the tsa we are waiting to hear back about his history and his current employment status. he pleaded not guilty. the trial starts in october. >>> cheesecake of plans, donald trump softening his stance on immigration, backing off fr deporting all illegal immigrants. jan brewer responding to that change tonight. >> to call him unstable, that is like you know, hillary clinton, she is a sealier -- [ indiscernible ] >> donald trump visits the valley next week. we will have more later. a

it is difficult to file people that fire people in the it is difficult to fire people in the united kingdom difficult to fire people in the united kingdom. i would be looking for data in the november or december time. manus: you hit the nail on the head in that nobody understands the disparity of the situation. ♪ hey how's it going, hotcakes? hotcakes. this place has hotcakes. so why aren't they selling like hotcakes? with comcast business internet and wifi pro, they could be. just add a customized message to your wifi pro splash page and you'll reach your customers where their eyes are already - on their devices. order up. it's more than just wifi, it can help grow your business. you don't see that every day. introducing wifi pro, wifi that helps grow your business. comcast business. built for business. guy: welcome to "on the move." 7:30 in london. we are counting you down to the european open. i'm guy johnson; caroline hyde is on assignment. death to the fed. the fomc pleads with the market to price in at least the possibility of a hike this year. will investors really listen? u.k. job t