tom keene barbecuing. day off for independence day.t is trending across the bloomberg universe. when markets are going crazy, apparently women are more likely to keep their cool. men are four types more likely to withdraw from investments. ne big reason is that most investors that favor mill lethal weapon a l yell type stocks listed on wall street. -- the chinese court is said to have temporarily banned the sale of micron chips. here is sebastian. >> british police say two people are in critical condition after being exposed to an unknown agent. it took place eight miles from where a former russian spy and his daughter were poisoned. the senate committee is supporting a finding by u.s. spy agencies that putin meddled in the u.s. 2016 campaign. they had a clear preference for donald trutch. last week the president tweeted they didn't interfere. denouncing the trump stiffings' lan on affirmative action. china will have a 12-hour head start on the u.s. when it comes to the next active trade war. it is set to take effect midnight on friday

i am with tom keene here in london's. tom: it's great to be back.i, it's a joy to be here. the ramifications are still substantial. from ourgorgeous view headquarters in london, this is bloomberg. stay with us. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. tom: "bloomberg surveillance" from our studios in london. nejra cehic in for francine lacqua. on tom keene. let's look at the global reaction to mr. trump and mr. putin. i think it was a summit. maybe it was a meeting. i will let you decide. the new york daily news, open treason. they don't mince words. there are a lot of others with them. putin overacking mr. the u.s. intelligence community. guardian, leftist rag t

i am francine lacqua in london joined by tom keene.ussels where a real understanding of the president of the united states on the hydrocarbon dynamics of europe. i am not sure he got briefed on that. boy did he start early. stoltenberg. speaking to reporters right now and we will see if he says anything about the relationship he is expecting. let's get straight to the bloomberg first word news. taylor: president trump is escalating the trade spat. with.s. has pushed ahead plans to put tariffs on an additional $200 billion of chinese goods. roddick's affected include tv components and refrigerator. beijing calls it unacceptable. in the u k, conservative lawmakers opposed to theresa may's brexit plant are considering a radical move that could bring down her government. bloomberg has used -- has learned that the eurosceptics that one of more decisive split, which would be to vote down the withdraw when it comes to parliament for approval and that could lead to an early election. the brit more over britain's top tv company is heating up. f

i have to hand it back to my colleagues tom keene and francine lacqua for some news.ng tom: yes, bankrnings are out. >> second-quarter earnings shares coming in at 63 cents, net income of 33%, about 6.8 billion dollars, helped in part tax code changes and improved operating performance. he got comments on the ceo, saying that operating leverage drove earnings higher this quarter and responsible growth continue to deliver as a driver for every area of the company. as you know, we also looking at efficiency issues. but second-quarter earnings per share, the headlines are that they are higher. francine, tom? tom: thank you so much. it is a perfect day here in helsinki, because of the american distinction that president trump brings, the strength of our financial system. away from here, we see today the idea of deutsche bank struggling , and finally some good news, and yet, powerful and dynamic profitability at the american banks. francine: deutsche bank is maybe not a linchpin of the strength and influence of the european economy, but maybe it is a kind of bigger picture of the fre-nemys

francine lacqua and tom keene. this is bloomberg. ♪ tom: good morning.. we are at westminster in london. washington correspondent kevin cirilli joins us after the moment last night of the nomination of a new supreme court justice. what will justice cap not, judge kavanagh do today? kevin: he is heading to capitol hill to meet with key lawmakers, including centrists republican lawmaker susan collins from maine who has said she will not be on board to support any cap candidate who disagrees with roe v. wade. the senate majority is so slim, mitch mcconnell wants to get this through in the 66 days or fewer that it took them to get judge gorsuch -- justice gorsuch through. with centrist democrats and republicans really questioning this, the margin of error is so small. it appears he has got the opening. i was quite taken by noah feldman of harvard law writing for bloomberg opinion who gave judge kavanagh a rave review as these nominations. >> everyone invited to the white house last night, including senators donnelly, height camp, heitkamp,ned -- and manchin

we continue in the next hour, tom keene to the out of new york.bring you our interview with that european competition commissioner. this is bloomberg. ♪ tom: this morning, ask not what your country cannot not do for you. the president seeks protection from left and right critics in the land of the double negative. democrats speak. his base cannot not respond. we have no reply from moscow. the dollar cannot not weaken. that is a double negative. the yen goes through 1.13. stanley, they report cap accounting does not allow double negatives and mr. gorman cannot not adjust. this is "bloomberg surveillance." i am tom keene in new york and i cannot not introduce my colleague, nejra cehic. this is what it has come down to. we are going grammatical in our politics. nejra: absolutely. i wish i could say i was surprised by the about-face, but i am not. i am curious to find out what could have driven it but what it means will happen from here because there were so many implications from helsinki when we discussed this yesterday. tom: it will be interesting.

this is "bloomberg surveillance. " i am joined by tom keene. and then there are a million things going on with brexit and mr. david davis resigning. tom: huge news. what is fascinating to me is the news just threw today will be extraordinary. aancine: where expecting replacement for mr. david davis. the pound is up. traveln, of course, we or migrate after the week in london, president trump shows up to brussels for nato. tom: with angela merkel and macron. you wonder how the prime minister's position has changed in brussels given what has just happened in the last day. the next eight or nine days will be surveillance crazy. the chinese prime minister receives a military honor from the german chancellor in berlin. we have some pictures of that. and then a news conference at 2:00 p.m. there you go. the military honors for the chinese premier. now, on to what else we are watching for today. the bloomberg first word news from new york city. taylor: theresa may's government has been thrown into crisis. david davis and his deputy have quit in protest

francine lacqua in london and tom keene in york.as the president travels to europe. i will join francine from our london desk for complete coverage of the present trip -- the president's trip. here's taylor riggs. taylor: china is accusing the u.s. of launching the largest trade war and economic history and is striking back. president trump began imposing sanctions on $34 billion of chinese products just after midnight in washington. beijing responded by imposing levies on american products such as soybeans and poultry. the president says that the move that could lead the u.s. to hit china with more tariffs. secretary of state mike pompeo is now in north korea where he has a tough job. that kim make sure jong-un's nuclear commitments lineup with president trump's promises. met with president cam, he says that north korea is nuclear threat, but there are reports that kim cap ramping up his production before the summit. a former lobbyist will be the acting administrator at the environmental protection agency. theew wheeler moved into

tom keene outins of new york. we have an exclusive interview with anthony douglas. bloomberg. ♪ tom: it's morning it, it is president trump against europe. he once them to pay more money for defense and nato. will the summit work? chancellor capitulates in a spectacular reversal from we want order, control and limit immigration. will a strong euro crash exports? the strengthening of the euro this morning. good morning, bloomberg surveillance. guy johnson is in for francine. i thought last night was extraordinary. shet true to say capitulated to the right? guy: i don't think it goes that far. works to deal with what keeps her in office. thisnk she is leaving phase week and then are implications for eurozone reform. there are indications for what and nato.th trade i don't think she leaves this stronger. tom: for our european audience, toughight europe got words from president trump about nato. taylor: shares of glencore are taking a dive today. the biggest commodity trader said it's been subpoenaed by the justice department to hand over documents related to money laund

i am tom keene. live from our swiss headquarters in zurich, francine lacqua.ent bank, a smaller credit suisse than what we saw 12 years ago. added to go with their leader? francine: yeah. it is a smaller bank here in it is in -- bank. it is in better shape than it was three years ago. they basically go through the trials and tribulations of credit suisse. they were at pains to explain is that one of the that thes they get is global markets lag peers because it is a different business model than others are trying to do. they are using it as a unit of wealth management and not on its own. tom: we go to italian gdp, a smaller number. european gdp coming in a little light. topline inflation is the worst since 2012. core inflation contained in europe. here is taylor riggs. taylor: north korea reportedly 's justding new icbm weeks after the summit with president trump according to the washington post, which sites u.s. spy agencies. the trump administration reportedly may bypass congress to give a $100 billion tax cut mainly to the rich. according to the new york tim

i am anna edwards with tom keene in new york.has rejected her customs plan, according to bloomberg sources. the move comes ahead of a cabinet meeting with ministers on friday. may will try to reach an agreement on the trading relationship with the european union. britain's carmaker has warned against the bad brexit deal. investments would be jeopardized unless the deal was frictionless. mark carney is still speaking in newcastle. side needs european to do more to prepare for brexit. in's start with mark carney his address. jaguar warning about brexit. >> they are putting some numbers on these threats, talking about a huge amount of investment that is under threat if we have a bad brexit deal with lots of trade barriers between britain and the european union. what mrs. may is proposing and mr. davis seems to have rejected is inching towards the softer end of the brexit curve. some of this rhetoric might strengthen mrs. may's hand in negotiating with her cabinet. toa: they are used dismissing this as fear, aren't they? >> they are.

i'm tom keene in new york. with us is viraj patel with ing.econd derivative on pacific rim weakness. pacific rim currencies as shown by adxy, a bundle currencies without japan. it has some acceleration and some velocity. it is amazing the weakness in pacific rim, down to standard deviations plus. what does it mean? viraj: the source of the risk of that move is the weakness in the yuan. by extension, when we look at the catalyst for this move in the chinese yuan, it is all done for the trade war. downside risk for the chinese economy and pboc easing, that just exports deflation across asia, and you see the rest of the currency complex in asia matching that move. tom: here is the joy. take the same chair. it is a little ugly. it really matters. we go back to 1997 and we saw this huge weakness in asia dxy. that is the fear. crisis inar another amplitude like 1998? viraj: there is more painted, for emerging market currencies to come. that is the key risk to global markets. at the moment, the global economy is at a crossroads. pinpointy hard to whe

i'm tom keene. ♪ ♪ scarlet: coming up on "bloomberg best," the stories that shaped the week around thebrexit plans move forward despite chaos in theresa may's cabinet. >> she is facing a life or death moment within the conservative party. >> the question now is what does europe think? scarlet: trade tensions ratchet up as u.s. and china tussle over tariffs. >> they described the latest move as a shocking. they say it is totally unacceptable. scarlet: earnings season rolls in with some of the big banks reporting results. >> jpmorgan came out with strong results, nothing missed. scarlet: opec issues its output outlook for 2019. canada's central bank announces a rate hike. fox and comcast keep stepping up the bidding for sky.

it's from tom keene being in london. this is the gift he left for me.er even more heat because the eu has rejected her customs plan. right now, let's go to cool, kong, and collect it first world news. taylor: in the first tangible outcome of the korean summit, north korea has released some of the remains of americans killed in the korean war. it does signal progress in broader talks on nuclear weapons. as you were mentioning, the options on brexit are shrinking her british prime minister theresa may. the european union has rejected a key part of her proposal for a trade deal. she has just 12 weeks to go before the divorce bill is supposed to be signed. negotiatorief suggest they stay inside the customs union but that would enrage part of mays conservative party. for the second time this week, the bank of japan is trying to tame an increase. the central bank has again offered an unlimited amount of bonds. the offer came after japan's benchmark yields reached 1/10 of 1% for the first time in more than a year. bp has agreed to make its biggest acquisition

i have tom keene joining me from york., the boe and all of that rubbed together, we will see what that makes sense for treasuries. tom: a weaker renminbi this morning, that is front and center. you really wonder where we will be on friday after the major central banks report. justine: yes, and tom, we got some breaking news, consumer confidence for the eurozone is pretty much as expect it, but lower than it was the previous month. i wonder whether trade wars and tariffs factor into that. we will have a look at that as well. now, that is get to the bloomberg first word news in new york city. >> president trump is again raising the specter of a government shutdown. he says he is willing to shut down the government if congress does not give him what he wants an immigration, including money on building the wall on the border with mexico. the shutdown would take place a little more than a month before the midterm election. onservative billionaire charles koch says that -- hit the president's policies could be hurting the econom

francine lacqua in london and i am tom keene in new york.berg. ♪ francine: this is bloomberg surveillance. let's check in on what is trending across the bloomberg universe on tictoc. climate change could threaten internet liability and access for millions of users as sea levels rise over the next 15 years. head to twitter for more on that. bloomberg.com, labor strikes are starting to weigh on ryanair. unions are trade starting to put all customers. speculation of a policy change at the boj roiling asian markets. tensions between the u.s. and iran escalate and china's stealthy evaluation is catching -- stealthy you want evaluation is catching president trump's attention. now to taylor riggs for the "first word news." has a: president trump warning for the iranian president. he promised iran would suffer consequences. earlier, he had warned the u.s. against threatening the nation's oil exports. he said a battle with iran would be the mother of all wars. the president-elect of mexico once president trump to try to reach a deal on nafta. afterte

francine lacqua in london, tom keene here.seph cohen will be featuring heavily on this she is in charge of china panic. you have a wonderful skyscraper in hong kong, there's a fair amount of china panic whether it is 1600 pennsylvania avenue or other places. >> we have to look at it in two different time periods. right now what we are seeing is that the chinese economy has been slowing, the chinese monetary authorities are trying to provide stimulus. why is this important? globally the chinese economy is the world's second-largest, it's also a major trade partner. we are focused on the u.s. trade on the bilateral basis but china is an enormous trade partner for so many other countries and weakness in china would be problematic. ,hey are huge importer particularly for many emerging market. i think the real china concern should be longer-term, where the chinese government has been toused on long-term policies enhance chinese growth, chinese competitiveness, and the chinese role in the world. it is the biggest risk to united stat

i'm francine lacqua with tom keene, we are still on speaking terms. ckets are doing well. francine: we are doing all right. tom: all of the united kingdom stopped yesterday for the soccer game. it was fabulous. look at the headline. nato, full briefings, across all "bloomberg surveillance," the president threatened withdrawal from nato. important headline. francine: this is the german press agency, this is not the first time we heard that. it depends on the rhetoric. whether he is actually thinking about doing it? tom: nicholas burns, former ambassador to nato from the u.s. writing a heated essay in the new york times today, making clear there is a difference from the rhetoric and the action of the administration. francine: let's get to the first world news. taylor: sticking with nato, president trump has resumed his twitter attack on nato while attending the summit in brussels he tweeted "the u.s. pays tens of billions of dollars to much to subsidize europe." he demands members meet their pledges on defense spending. london,day he flies to protesters

you can turn on your radio to listen to tom keene and jonathan ferro from 7:00 to 9:00, and tom keeneto 10:00. live from new york, this is bloomberg. ♪ ♪ julia: this is bloomberg -- emma: this is bloomberg daybreak. today,up later representative leonard lot, jersey.an from new now it's your bloomberg business flash. tesla has called a timeout. jersey. they have been working around the clock in recent weeks to beat a construction goal for its model three sedan. they are now causing production this week to allow tesla to do major it -- basic maintenance and upkeep. billionaire property investors david and simon reuben has sold part of their stake in -- for $2.8 billion. global switch is planning an ipo next year. is moving to end losses totaling $5.2 billion. the ceo tony douglas has shuffled management, ray arranged business, and put the brakes on his attack -- attempt to bridge the gap between others. >> this program is about making sure we have case, we have urgency, and we have excitement in delivering on that. emma: you will have more from that interview coming up at 10:00 a.m. eas

elsa: i was having this conversation earlier with tom keene and jonathan ferro.s like splitting hairs. it should not make a huge amount of difference. markets are sensitive to the turning point, but the message from the ecb is rates remaining on hold for at least a year and when they rise, they will rise slowly. mark: let's talk trade, given that tomorrow is the big day when tariffs come into play for china and the u.s. is it priced into fx markets? elsa: it should be by now. this has been a slow process in terms of getting the tariffs through the legislative loops in the u.s. i have been announced for some time. we know they will come and china will respond. will the u.s. follow through on its threat to impose more tariffs be on the $14 billion we have heard about? that is where markets will have to start pricing in. vonnie: what will happen to the chinese yuan? it is interest rate convergence, but this trade is turning into a war quite rapidly and will make the governor think twice. what should he do, the pboc governor? elsa: we saw earlier this week that the p

tom keene is in new york. there is one corporate story. deutsche bank.xpose of interview with the chief executive. results were not great but he is trying to sound upbeat and he says customers are keen. tom: high marks for their presentation. they have some real work ahead. no question. seeing the stock ebb a little today. it is remarkable how they are focused on revenue stability. i will not give them revenue growth. francine: we have to try and figure out what it means for their commitment to the u.s. and u.k. first world news. president trump made a late-night proposal on trade before meeting with european union officials, calling on the u.s. and the european union to drop all tariffs, barriers and subsidies. the president meets today with the european commission president, who is trying to head off a trade war. in pakistan, national elections deadly. 25 people were killed in an explosion outside a polling station in the southwestern part of the country. 40 were wounded. thevote will determine central ambitions. polls show none of the parties will win

cudmore thinks there is significant weakness to come, chart.cing nejra cehic's my understanding is tom keenese are clouds that you see over london. this is bloomberg. ♪ ♪ francine: theresa may extensor brexit strategy aptitude cabinet members quit in one day. will she now face a leadership challenge? a new era in turkey. , with expanded powers. the lira slumps. president trump nominates brett kavanaugh to the supreme court, setting the stage for a contentious confirmation battle. he could create the

this is bloomberg surveillance and i'm tom keene. we are on our way to helsinki.tory today. i think theresa may was not expecting what happened but donald trump given an interview to the summer he said, if brexit goes as planned with what the proposal of government is, there will probably be no u.s. trade deal of any goes on to talk about hospitals, in, and domestic issues. quite unusual for a sitting president. we heard from ambassador gardner moments ago and we will put this in respective over the next hour. to berdinary events and clear, the president having an byive day around london helicopter. we need to get a united kingdom and a global news briefing. here is taylor riggs. trade: time -- china's surplus with the u.s. was at a record. both the u.s. and china impose tariffs on 34 billion dollars of the others imports a week ago. president trump is threatening duties on another $200 billion of chinese exports. -- aaronacing a new neutral missed ration attack on its takeover of time warner. hasjustice department appealed last month's federal court decision that

this is "bloomberg surveillance," i'm tom keene in new york, nejra is in london. brexit update. we have left london. his visit for a couple weeks? everyone goes on holiday. may and hersa colleagues will probably be on holiday. she has a reprieve. the new brexit secretary in brussels today -- we have heard headlines. cable under pressure. how far it can fall if we get a no deal. tom: we do that with a strong dollar, commodity struggling today. here is taylor riggs. taylor: european union preparing to strike back against american tariffs. list to hitparing a with protective measures. visit failed to persuade president trump. the pound it could be hit hard, there is no brexit deal. falling as 80% against the dollar if the u.k. doesn't reach an agreement with the eu by the time it leaves next march. only a 20%y there is chance of a no deal brexit. the federal reserve says economic growth in the u.s. is holding up. a survey says manufacturers are concerned about tariffs, some it's a new trade policies have led to higher producer prices and supply disruptions. employers

tom keene joins me out of new york. look at westminster in the heat.is bloomberg. ♪ ♪ tom: this morning, trees do not grow to the sky. facebook comes back to earth. zuckerberg loses 24%. there is more there. agreement, there is there was little agreement to be had. outdove thedraghi doves? ehra, mario draghi with a meeting today and it is drifting away in the news flow. what he says is always important. nejra: absolutely. come,hat rate hike might there were different interpretations and languages. that is what i found interesting. through the summer of 2019, the end of summer? will that give support to the euro. that has been trending lower, 1.17 and all right now because that has changed the handle. tom: the august 1 fed meeting as well. the biggest sign yet that major trading partners can convince the u.s. to back away from a trade war. president trump and president juncker have agreed to suspend new tariffs. europe will buy more soybeans and liquefied natural gas. president trump will lift tariffs on steel and aluminum. facebook takes a dive. after

listen to tom keene from 7:00 to 9:00 and then pimm fox with tom at 9:00. new york, this is bloomberg. ♪ julia: -- emma: this is "bloomberg daybreak." emmanuel. julian this is bloomberg. businessur bloomberg flash. goldman sachs is forget about a trade war, now is the time to buy commodities. they say economic impacts and sections between the u.s. and china is flawed, forecasting a 10% return on commodities into the next year. and $13 billion worth of shares and samsung electronics, lawmakers and regulators are trying to the exist overl business empires. passed, oneon is family could have less control over something. a stock that is not officially start trading until monday in hong kong. some investors say gray market bids for shares of the phone maker were at times more than 9% below the issue price. investors have been abandoning hong kong equities due to concerns over the u.s.-china trade war. julia: thank you very much. now to the wall street beat, three things wall street is buzzing about. a tragic, unexpected death of hna's cochairman, and then the wi

i am tom keene. in london, francine lacqua., let's not talk about football because you're going to jinx me. when you look at what markets are doing, they are rl -- they are a little bit on it. maybe it's because of uncertainty. trade risk is back on. the pound falling on the back of political risk. big week for global trade with president trump decided on tariffs on friday. of the world calling for the gloom of. , first world -- word news. >> for the first time in decades, mexico has elected a left-wing president. it was a crushing defeat for the business friendly parties who ran the country's by -- for decades. he 153% of the vote. he pledge to respect the central banks autonomy. won 53% of the vote. he pledge to respect the central banks'autonomy. president trump said saudi arabia needs to produce 2000 barrels more day -- 2 million barrels more day but the white house walked it back. beijing has cut tariffs almost in half. later thisset to end week. it's in retaliation for tariffs that president trump has assessed on china. a

that is something the people's vote campaign are very keen to highlight and i think they are using the poll to make that very point. tomting, we will talk again. the rail operator, govia thameslink, could be stripped of its franchises unless its services in the south east of england start to improve. reports say passengers who use its thameslink and great northern trains are also set to be offered compensation equivalent to a months free travel. hundreds of thousands of people have faced weeks of disruption following the introduction of new timetables in may. people renting homes in england could be given more security under government proposals to introduce a minimum tenancy term of three years. eight out of ten tenants currently have contracts of six or 12 months. ministers say longer agreements would strengthen communities. millions of people who book their holidays online will be protected under new eu rules which come into force today. until now, trips booked via websites like expedia and on the beach did not have the same protection as traditional package holidays from travel agents. our business correspondent jo

keens asking. >> everybody you need to know about her diet. >> plus. >> cue the music, let's dance. >> our exclusive in hong kong. the couples he hooked up. >> i take credit. >> and exclusive tomruise. >> get out. >> yeah, our "top gun" flash back that left him in his tear risks. >> this is "entertainment tonight." the latest on george clooney after his scooter dplash italy. >> news on his condition after his close call was caught on video. >> lucky to be alive. this is the shocking surveillance footage showing the head-on collision that catapulted george in the air. he crashes down, shattering the driver's windshield with his helmet. in the foot and obtained by the italian newspaper, the 57-year-old's body is then seen laying on the street. the driver gets out of the vehicle to check on him. authorities tell "e.t." the drive placed the emergency call to the authorities. according to paper, the driver said he didn't see george but stopped when he heard a loud thud. amal rushed to his side at the hospital. they left together once an mri determined he was not seriously injured. thursday george was back on his feet and on the move with the support of assistant and his wife amal.