we go over to tyson foods, a lot going on in the magazine. son wants to be your one-stop shop for all things protein. jason: and tmz's shift from hollywood to washington as it breaks into celebrity politics. taylor: a lot going on in turkey with threats of their financial crisis and any contagion effects it might have. jason we talked to our economics : editor about what was going on there. peter: turkey's market caps was less than the value of procter and gamble or mcdonald's. so it is not big in that respect. it happens to owe money in european banks, unicredit in italy, b.n.p. paribas in france. to me, the impact is more symbolic. people look at turkey and say, who is next? they right away look at argentina, which is vulnerable. it has a big history of poor economic -- even though the current president is doing a pretty good job. you they look to south africa. ramaphosa is pursuing economic orthodoxy, but after jacob zuma. people are worried policies could go away. the rupee of india fell. we saw pressure on italy, with its new populist gov

i didn't know tyson foods was actually a big producer of beef and pork, as well.are the biggest meat company in the u.s., possibly the world. they do $15 billion of meat production a year, $11 billion of chicken, $5 billion of pork and have direct to consumer plans and our mammoth. i heard they were investing in alternative meat, plant-based meats and these lab grown meats. i thought, does this mean they are really accelerating the growth of these plant-based competitors? the ceo has been there at a year-and-a-half at this point. he is setting out a new mission for this company, or is he? amanda: that was the question. he is a really interesting character. he is from the northeast, which is unusual for tyson because most of their previous ceos have been southern born and bred and risen up through the ranks of tyson. he is a younger guy, 53. he came to tyson with his background in direct to consumer brands and they were interested in his relationship to the consumer and his intimacy with meeting consumer needs and understanding the evolving consumer. i think he see

we were talking with the ceo of tyson foods.- hormel out with earnings, and the revenue forecasts below estimates. another company reported after the close yesterday, and the company cut its profit forecast and the head of its pink brand will retire. ands.was for l br we have numbers for children's place and williams-sonoma. second-quarter earnings at williams-sonoma beating the highest average analyst estimate. david: initial jobless games, 210,000, a little less than the survey, which was 250,000. continued strength in the job market -- which was 215,000. continued strength in the job market. kailey: day two of the latest on a trade talks between the u.s. and china. they will take place hours after each country imposed tariffs on $60 billion of the others goods. the u.s. placed duties on chinese made motor five -- motorcycles and really cars. china retaliated with tariffs on american medical instrument's, cars, and cope. the latest negotiations are not expected to result in much. in south africa, president trump entered the gr

like tyson are not actually the ones with the herds so once again the people who are really being hurt are the smaller people the people the ranchers and the farmers who are then supplying the food chain that tysons and the smith fields in the hormel zx with their be in with their pork and with their chicken at the very end of this come the retailers like mcdonald's and burger kings and they are of course the ones who get the most opprobrium when in fact there are they're the least responsible you know it's very interesting and you know regard to this whole trade war. when beef supplies are up in they're not producing as much beef then they're not eating as much grain so that is also having an impact on soybeans and and wheat other feed grains corn etc right well if we can just get into the politics of this for a second what we're what we're seeing is that sonny perdue who is the head of it at oregon secretary of agriculture has gone back to nineteen twenty nine to give what section thirty two exactly exactly to get a loan to give these toys for farmers twelve billion dollars in support what in other words you take the legs out from under them and give them a golden crutches in

. >>> tyson foods said it would buy keystone foods for more than $2 billion. the acquisition is part of tyson's strategy tore ie its product offerings and expand globally. keystone foods is a supplier of chicken, beef ando fish the major fast food restaurant chains as well as convenience stores. shares of tyson rose more than 1%. investors will be focused on tha fe reserve this week, and just today, the president of the atlanta f said that the economy is strong and ready to move on from monetary stimulus 37 rapheal added he is 12iking wi r int herest rate increase this year, as globalnt e like turkey's currency crisis increase risks to the economic outlook. the president might not be all that in an interview with reuters, president trump said he'll iticize the fed if it continues to hike rates and that the cen rall bank should be more accommodating. in hat sameinterview, he said china was manipulating its . curren and china artificially lowers the price of their >> this week it takes center lage in washington. kaylaooks at what's on the enda and what's at stake

monday kicks off the week with tyson foods, and marriott all reporting second quarter earnings.et economic reports. the jobs openings report and consumer credit tuesday. big media companies reporting their earnings tuesday. and disney are due out with quarterly numbers. analysts will be watching for details on the impending deal. speaking of 21st century fox. the parent company will report the next day. michael kors and prudential all out thursday. news corporation, viacom, and the weekly jobless numbers. wrapping things up friday investors get a look at the federal budget and the consumer price index. coming up next week jpmorgan chase's chief economist anthony chan is with us. we have a big show with congressman peter king and joe lieberman talking to me about iran. weekdays at 6:00 to 9:00 a.m. eastern for "morntio >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real-estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story

as i told you earlier, i still like grubhub and mccormick tyson foods hasn't been working. out we replace it with a different packaged food play, something like cag that's conagra i've been recommending it thanks to the strength of the frozen foods division you stockpile the food so you can heat it up and make it for yourself in front of the tv or the computer rather than going to a restaurant. what makes the stock attractive here well, the packaged food stocks have mostly fallen out of favor of the wall street fashion show, i'm a big fan of conagra's recent acquisition of pinnacle foods pinnacle's bird's-eye brand will give them more exposure loved by chintzy millennials. the deal makes them the second largest player in frozen after nestle i think they'll be able to negotiate much better going forward. at the same time they'll be able to get more control over the transportation labor costs that have bedevilled the industry the market did not react favorably to this transaction. many people felt that conagra is paying too much. i think the superb management team at conagra t

julie: i want to talk about earnings from tyson foods.ompany cut its full-year earnings forecast because of the effect of pork tariffs in particular but is coming out with earnings for the third quarter that eat analyst $1.50 versus $1.38. sales were a little light. islooks like the company forecasting for 2019 a bit above analyst estimates. risingthat seems to be -- raising the shares. tot shares are down 28% year date. into them andre update you have anything else catches our eye. up, the kushner's strike a deal, signing away 666 fifth avenue for 100 years. this is bloomberg. ♪ >> this is bloomberg daybreak. michael coext hour, hen. this is bloomberg. daimler will make that repowered cars in china with a local partner. there are in talks with beijing electric vehicles for a joint venture. daimler is pushing smart cars. bloomberg has learned that google is in talks with tencent and other chinese companies to offer its cloud services. the talks began earlier this year and google has narrowed its partnership candidates to three companies.

cheryl: tyson foods will buy keystone foods.hicken nuggets for mcdonald's, they also supply beef patties and chicken and fish filets to other chains. they expect the deal to close next year. shares of tyson foods down 23% so far this year. well, dramatic phone video showing a father and son in a miraculous escape from a wildfire. justintojustin billton and his r were trying to leave the area and they drove straight into a wildfire. >> you can't see. just go in. >> the car's heating up. it's going to explode. oh, jesus, god, help us. cheryl: that was his father telling him to try to go in and to keep the son calm. they had to finally back out the way they came. they eventually abandoned the car. they ran to a nearby lake and a ranger in a boat was able to rescue them. but that car, completely burned in that fire. meanwhile, most of yosemite tourist areas have reopened. the deadly wildfire that burned for weeks and threatened the park in california has been retained. more than 3,000 firefighters have battled the blaze. two have be

seaworld seaworld up 15%, tyson food up 3%, this morning, so tiesan foods ceo we did see that tysonen falling food 3r50is have been falling increased herd size, size of heavier animals offset falling pork prices this is apparent of jimmy sean sausages. >> marketing initiatives positive reception to rises attendance on rise it was the revenue that wowed wall street third time in a row third straight beat on top lines this is a winner no doubt, for seaworld you can see up 15%, that is going to be heavily trade in a big mover as far as market commentary at raymond james concerned about seconder rotation out of tech out of consumer cyclicals moved into cash? no, moved into industrials financials consumer on in cyclicals said associated with healthy bull market positive on apple, weak on cbs this morning. >> thank you nicole pap first to cross finish line to one trillion dollars in valuation several big names close behind the host of "varney & company," you have a predictions. >> we waive it want to take our audience walk to fox news channel friday afternoon where you made a stellar appe

we go over to tyson foods, a lot going on in the magazine. things protein. jason: and tmz's shift from hollywood to washington as it breaks into celebrity politics. taylor: a lot going on in turkey with threats of their financial crisis and any contagion effects it might have.

our partners are reporting that hisve massi tyson's food is going to be shutting down. thebe ia eatery closed just nine months after its big debut. in a statement the restaurant costs far exceeded revenues. but he did not mention the recent sexual harassment allegations he's faci. this is the fourth isabella restaurant to close this year. >>> the compa that owns founding farmers and farmers fisher a bakers are settling a lawsuit that accuses them of labor l. violatio the company is paying a total of $1.5 million to more than 900 current and former employees. the employees say their sick leave didn't match up with a 2014 d.c. law. now, some employs also say they were being paid the tipped nnimum wage, e though they didn't receive tips. >>> news 4 is all about working for y in the community. >> that's right. >>> next at 4:00, how this local group is helping womenan vets land a new job. >>> plus, w have changes on how you can get the flu vaccine this year. >>> roll up your sleeves, but >>> back now with the sad news we brought you at the top of the hour, senator john mccai

tyson foods beefing up the latest quarterly numbers. the number one meat processor in the us. currently pretty much one of the best performers in the s&p 500 in this final hour of trade after beating analyst profit estimates thanks to strong demand for its beef products. still, the company did warn that trade tensions with china are weighing on tysons pork and chicken businesses.but investors have no beef with warren buffett. shares of his berkshire hathaway company are jumping after reporting the strongest quarterly revenue and profit in two entire years. the class b shares those are the ones below, there currently on track for the highest level since march. the a shares up $310,000 a share. it is never split that's right so high. up now $312,000. seeing a gain of 2 3/4 percent. while warren buffett sits on his favorite drink, cherry coke, pepsi is getting a pop. in the wake of news that the ceo is stepping down in october after 12 years at the helm. she will be succeeded by the companies president, the stock is up a percent but pepsi shares have done really well under her. t

we also saw up arrows for tyson foods after their quarterly reports. >> cynthia next and now says democratsrace socialism like she does. coming up we have that debate. dozens of arrests over the weekend, we will show you the property damage and what they did over there. venezuela arrested six people in connection to two drones packed with plastic bombs that near niclas madero. they take on that debate. he's fired up. it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your t

i tell you now it is up eight bucks but still below $1200 a share, 1192. >>> tyson foods agreed to buymore than two billion. keystone by the way is major supplier of chicken nuggets to mcdonald's and other companies. >> here is sports. renaldo placed his first big match joining juventus in italy and they are giving him a big tax break. come on in amy kellogg from london with more. what is the story, amy. reporter: hi, stuart. italy apparently decided no better way to woo people with a tax break. cristiano renaldo is is the first high-profile person to take advantage of the new tax regime. he signed signed wither to renod team with fiat, $134 million next. that would have been taxed at a rate 43%. here is the deal. he only has to pay 100,000 euros. 11thousand dollars that is on his earnings around the world, endorsements, that kind of thing. last year, those believed to have been $47 million. we don't know how much the tack break influenced renaldo' decision to move but in italy there has been a lot of talk just how sweet this deal is. we asked an italian tax lawyer if italians actually

tyson foods is buying keystone foods for $2.16 million in cash. cquisition includes six processing plants and an innovation center in the u.s. tyson says it'll strengthen its global presence. the deal expected to close next year they brought it from a brazilia company. it fits nicely with tyson's portfolio as the largest meat supplier in the u.s. >> obviously a slow growth market and this is the way to do it >> in the meantime let's go to sue herrera for a cnbc news update >>> here's what's happening at this hour, record breaking wildfires are causing problems for washington's puget sound winds from the west and wildfire smoke from the north and south are causing thick smog and unhealthy air. the cdc recommending people in the affected areas stay indoors with the air-conditioners using the recirculation mode >>> a sign for a catholic high school in cranberry township, pennsylvania, was vandalized with red spray paint covering the name of cardinal whirl he say partly faulted in the pennsylvania grand jury investigation into the cover up of child sex

tyson foods has agreed to buy chicken nuggets maker keystone foods for about $2.5 billion.omberg has learned that the price of the deal is less than originally expected, because demand for chicken in the united states has fallen wall supply has risen. -- while supply has risen. a lot of chicken still being consumed in my house. coming up, manafort day two. jurors decide the fate of president's former campaign chairman. we are live with the latest on that. this is bloomberg. ♪ loomberg. ♪ lisa: this is bloomberg markets. i'm lisa abramowicz. scarlet: and i'm scarlet fu. the red states are getting redder and the blue, blue or, but there are notable exceptions. some say one of them is mimi walters, a republican congresswoman from california's 45th district that is up for grabs. she responded to that on bloomberg earlier. run again excited to in november. i take my job extremely areas. last election, i won by 17 points. -- the president lost my district by five. i feel confident going into this election. we have a great team in place and are working very hard. about thee a poin

and we're going to get the big movers of the morning, from este lauder to tyson foods.s a very big morning, don't go away. that's tough to do. schwab does it. next question. do you offer a satisfaction guarantee? a what now? a satisfaction guarantee. like schwab does. man: (scoffing) what are you teaching these kids? ask your broker if they offer award-winning full service and low costs, backed by a satisfaction guarantee. if you don't like their answer, ask again at schwab. if you don't like their answer, it's absolute confidence in 30,00or it isn't. arts, it's inspected by mercedes-benz factory-trained technicians, or it isn't. it's backed by an unlimited mileage warranty, or it isn't. for those who never settle, it's either mercedes-benz certified pre-owned, or it isn't. the mercedes-benz certified pre-owned sales event, now through august 31st. only at your authorized mercedes-benz dealer. thanks, janet. it's welcomemy happy place. store. you can learn how to switch to xfinity mobile, a new wireless network that saves you cash. and you can get 5 lines of talk and te

tyson foods, up 3.2% after reporting a solid corridor, reaffirming the full-year view. ahead of the report tomorrow. those shares down more than 16% year to date, it has been a tough year overall for the consumer stables base. and a tough few days for a bitcoin. a tough year for a bitcoin. this is bitcoin over the last drop declines and a bigger today, down more than 5% on the day, down 50% over the time period. theoin below 7000, so in way that we had it above 8000 not so long ago in what was technical buying, now it is back down below, so really the buyers not supporting bitcoin above any real levels of present -- of resistance at this point. finally, not a lot of influence from trade war's on stocks, but take a look at copper, zinc and soybeans. we have declined with traders worried about what the effects could be on these commodities come if they trade war between the u.s. and china intensifies. taylor: now let's get a check of first word news with emma. emma: the u.s. is re-imposing the first round of iranian trade sanctions that had been suspended under the 2015 n

. >>> okay lots of corporate news to tell you about this morning tyson foods posting better than expectedtyson said it was pleased with its quarter considering oversupply and a difficult pricing environment. then hsbc exceeded analyst forecasts. the banks revenue missed consensus. impacted by rising expenses and a settlement with u.s. regulators over sales of mortgage securities. >>> st. louis fed president james bullard speaking to cnbc europe about president trump's trade policy and pointing out hypocrisy among trading partners countries that protest america's non-free trade policies should just drop all their own tariffs to zero because they won't because they're protectionists >> it's controversial, that's for sure but i think the discussion that, you know, should be focused on the end stage here reignite a global debate on trade. i think that has happened. and to think about where we want to get to and what we want to get to is very few in terms of tariffs to trade >> lower trade barriers would be a better outcome for the whole world, he said he also reacted to trump's comments about

. >>> tyson foods is making a $2.5 billion acquisition. buying keystone foods keystone is based in the u.s. but owned by a brazilian meat packing company. that company said it expected to sell the unit within a few weeks. >> did we have zoe's kitchen on? didn't we have them on, or not >> i think we did, yeah. steve liesman did. >> steve liesman remembers it was fresh made mediterranean -- >> yeah, it was cool. >> oh, you're right, you're right. they made an excellent spread. >> it was good. >> i think you're right. >> i saw this earlier, and it's still important, but it was like, wow, i haven't mentioned -- when i read it earlier, i haven't talked about power, the fed, in a while. >> the way it ought to be. >> not everyone goes to this but he's going to go so i guess you're all psyched fed officials are going to gather next week you might even take a break from the fly fishing. >> i'm hoping if it's not a big deal and it's quiet, i get more fishing in this could be a huge boondoggle for me. >> the central bankers will be out there framed by

tyson will buy keystone foods for $12.5 billion.omberg has learned the price of the deal is less than originally expected because demand for chicken in the u.s. has fallen while supply has risen. quarterly earnings came up short at the world's largest tractor manufacturer, deere. the company is being squeezed by higher raw material and freight costs. chinese tariffs on u.s. farm goods have hurt the purchasing power of american farmers. that is your business flash update. still ahead, we will hear from the ceo of maersk as the world's largest shipping company moves to streamline structure and focus on the trip -- transport business. this is bloomberg. ♪ this isn't just any moving day. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected whi

it taps into the food service has been a tyson leader in for a while.national as it would like to be. thatnk this helps them in regard. >> the idea of diversification, going from chicken to chicken, they are a specialist in chicken mma have chicken nuggets is different because they are processed but they are still chicken. i see diversification, i guess food-service verses in the tyson is not looking for broad diversification outside the protein meets face. it made the acquisition of it liked a lot, of meat-based products but quickly sold the ones that it didn't make sense, pie crusts and pies and things like that. when i say diversification, distribution channel and a little more strength outside the u.s. >> do you drink seltzer? >> all the time. >> it is good. >> yesterday this healthy. i tried to be healthy. .> i try to make the point >> bloomberg intelligence. complained about jerome powell asked -- let's bring in romaine bostick of bloomberg. president trump is complaining to republican donors that he did not get what he bargained for. what is goin

foods: that was the tyson ceo on bloomberg daybreak: americas earlier today.e for bloomberg business flash. a look at the biggest business stories in the news right now. shares of alibaba are rising. they reported -- in more than four years. quarterly revenue soaring. alibaba did fall with the expense due to shares to its workers and financial. volkswagen has mapped out its digital makeover. the company wants to transform itself from being just a carmaker to a provider of transportation. the first step, a car sharing service. folks like and will deploy 2000 all electric cars in berlin. that is your business flash. are shruggings off drama involving the president. englander gives us his analysis coming up next. this is bloomberg. ♪ vonnie: that is some of our reporting. i am vonnie quinn. romaine: this is bloomberg markets. vonnie: a quick look at some other movements around the world. -- is weakening today as political pressure in australia. this, i hate -- i hesitate to call it bizarre, but another tweet from president trump. is amazing how much power he has

trend in the food and beverage industry it's been stunning, completely new lineup of faces leading this industry just in the last two years, we have seen new ceos of kellogg, general mills, tysonhershey, j.m.smucker, who mel, de -- hormel and dean foods. something indra nooy was out front on, but kongtds to address the portfolio to address consumer needs >> you might have heard our discussion earlier with jim about indra's willingness to fight back, any argument that the company should be broken off and whether laguardia thinks they should be broken up do we know >> we don't know we do know that he's only the sixth ceo in the history of this country. and the history of this company is going internally for ceos so in terms of his appointment there, it suggests that there's going to be a continued strategy set. the company is also emphasizing laguardia's international experience, he served in sub saharan africa, he also led the european region. i have to say there have been questions over the years about leaderships at this country, a few high profile departures in the last few years, including brian cornel, and part of that was nooyi's fight and ultimately proving that pepsi wa