stephen: amy lo, ubs, hong kong ceo. luck on this celebration , 20 year birthday for the hong kong sar. betty, i think you are here 20 years ago? you were not even born 20 years ago. betty: you gave me away, steve. i was there, indeed. it was a very rainy day that day, steve. .tephen engle, outing me 20 years ago and hong kong. you can get a roundup of the stories you need to know including that one, to get you going in today's edition of daybreak. subscribers go to dayb . you can customize your settings so you only get the news on the industries and assets you care about. this is bloomberg. ♪ anchor: this is daybreak asia. i am yvonne man in hong kong. i am betty liu in new york. the fashion house questioned your says eight remains optimistic. speaking exclusively to futurerg, they said the looks bright following the election of president emmanuel macron. the french market is important. the election, we have a new president. i think this will be a very positive thing for the economy in france. reformswill start some

ub banca down only 1% today. the ceo of this company and dozens of top executives could face trial over whether the bank obstructed regulators. reuters reports that prosecutors have requested a trial a judge will decide whether to try the case there's also a probe related to possible irregularities in the way shareholders appointed the supervisory board. ub banca says it was not aware of the prosecutor's request. in november it denied wrong doing and said it has always cooperated with investors what do we know about ubi banca, it's not at the top like uni credit and sao paolo, not at the bottom, so what is ub banca? it's the fifth largest which means it escapes the radar often. it is only worth in terms of market cap around about 4.2 billion euros. what i found interesting is looking at the financial profile about this one and how the brokers love it, the fact is this company still only trades on a price to book of 0.4. all right? this is one that's been buying assets, had a 400 million capital raising to buy som

coming up on msnbc's ub ub, we go back with family experts.ell you what she needs to do to make the lead and get a lead from sam's club, plus simple things you can do to give your office a new look and feel. it's makeover day coming up on "your business."

coming up on msnbc's ub ub, we go back with family experts. tell you what she needs to do to make the lead and get a lead from sam's club, plus simple things you can do to give your office a new look and feel. it's makeover day coming up on "your business." >>> hi, everyone. i'm j.j. ramberg. welcome to "your business," the show dedicated to helping you grow your business. i first met this woman two months ago at her iced tea factory in detroit. she had been running her business for two years and earned steady sales but still didn't earn enough to pay herself. we called in the experts, they made introductions and together we gave that business a workout. she makes and sells her own ellis island has by kiss island tea based in detroit. it's heralded from her jamaican family. her grand forecreated this drink back in the 1920s. >> what is your favorite accomplishment on wall? >> my favorite accomplishment is forbes. >> reporter: her finances are good so far but she's taken home no salary. that's why she asked our show for a makeover and last mont

jeffrey yu joining us from ubs.ns to have with him as we try to work her way through a long night of british politics. there are some great functions on your bloomberg. a top live running. you can follow the latest on the election. a market blog as well. we'll run those two things side-by-side. there is another great function, and that is e.u. . that is going to give the latest surrounding what is happening. we're about to hear from newcastle. what that gives us is this map, which is just brilliant because what it does is it breaks down 650y, there are constituents in the u.k. at the moment all the action is up here in the northeast of england. au've got down here, breakdown of the seats and the vote counts. so, labour taking the first four. that was largely expected. now we are starting to get some interesting ones. swindon is declaring down on the southwest. that is going to be fascinating. haidi: yeah, that is a really great fortune, the map. give us a better picture of what kind of risk we're dealing with he

donovan is a chief economist at ubs wealth management.at this latest -- encapsulate for me what this latest in the trump saga says to you. the twists and turns are largely irrelevant. from an economist point of you, what we have are what we call a signaling effect. the u.s. administration with the first ban has signaled hostility to certain groups, a situation where some would argue that this is prejudice, discrimination. in that environment, you create a signal of a less welcoming place to visit, to invest. beyond those countries which are affected. this is a more general, do i want to visit a country that has this policy? i want to invest in a country that has this policy? the signal is the issue. the noise we are getting matters a lot to the individuals concerned, but economically, that is not the issue. manus: let's talk about europe. the government is considering a $34 billion investment in infrastructure growth. meanwhile, you have billionaire entrepreneur telling bloomberg what he thought macron was a positive force. him, -- manus:

also dean turner with ubs 12 management. we could bring that quote up from the last meeting in april. rates toue to expect remain at present -- at pleasant or lower levels. well past the horizon of our net asset personages -- reduces. rates to : we are going to have aasileio drop in the rate easing bias. personally, i think it is unnecessary. priced, whenhat is i look at the market, i see bond yields marginally higher. i think you will have a dollar higher, however trade is generally higher. let's just make sure we put this in perspective. beenising euro-dollar has half because of the euro, half because of the weak dollar story. get what we are expecting, they drop in the ratings in bias, i think the -- jonathan: no one really believes rates are going to go lower. why is it significant? dean: it has to do with timing and preparing the markets for an exit from qe. today's move should be the first step to removing the reference to lower as was pointed out. it is inconsequential. what we have to be worried about is if we don't

geoff: still with us is yu and ub private banking. comey what we saw coming out of thecomey testimony. -- what we saw coming out of the comey testimony. did we get more out of his testimony than what we saw in his written testimony. geoffrey: how markets reaction, it seems like this was a banana skin. that ultimately it did not prompt talk of impeachment. it didn't accelerate, or on a marginal basis, no change of the status quo. the focus should be back on how the u.s. economy is doing and where the fight is going to go. -- the fed is going to go. what our clients have been asking us is the reflation trade. a lot was promised and a lot was in the price. how much of that can we count on him to deliver? there is so much going on on the side. that is a question that needs to be answered over the coming months and quarters. yvonne: a public servant calling the president a liar. that should be quite significant, right? this probably has a lot more implications than what people are suggesting at the moment. are we still overlooking some of

so many of the libor traders, only one of them was convicted, and i think that was a sitting former ubsrader, do you think it's okay that so many of them got off lightly? not just traders, but senior management of many banks pretty much everyone kept their job. >> it's tricky i was very angry at the time when i knew that so many of my counterparts were actively manipulating it. i was furious. i knew these guys. after a couple years i began to change my mind i don't think it's fair many of these people, these traders have been put on trial without the banks actually taking that much responsibility they pay a fine as we saw, but they still argue they haven't done anything wrong. i think that's strong. >> you think the buck stops with senior management not necessarily the trader >> it's difficult to say, where do you draw the line which level of senior management knew about this? how you can find proof that's very difficult. but still the bank as a whole should take more responsibility. it's not only about paying a fine to the regulators, it's about saying our culture was wrong, not that t

what happened in washington yesterday also happened in california yesterday with the ubs shooting. i don't think you can blame that post. washington people inlots of washington who are really struggling to come up with legislative proposals for the country. host: new jersey, democrat. was like to sam's are about what happened yesterday. -- host: how so? caller: well, the way things that have happened. the shooter and the individual who decided to do this madness. if you don't like the person, don't vote for him. that is the way i look at it. can you imagine if a democratic were -- this is the american way. people have a right to play god. that's all i have to share. guest: thank you. there are people in american history who have played god, as you say. there are people that assassinated president lincoln, -- for theennedy, dynamics of political democracy and it is a dangerous thing. we have to make sure we are engaged in a political culture that does not activate the most violent, unstable people. know whatte -- we richard hofstadter called a politics.tyle in has ak all the media r

jeffrey yu from ubs wealth management just joined me around the desk. always good to talk to you. let's go back to your old stomping grounds, fx. how much lower can cable fall? >> it depends on what materializes over the next few days. if the current government becomes clear they can't command con if confidence there could be pressure on sterling further, but i think we should look to the move towards 1.30, 1.35, 1.36 if we get to low levels, the valuation argument, it's cheap. >> so you're not selling on rallies, you're buying on dips? >> i would look at asymmetry and buy on dips. >> you're not the only one more positive on pound sterling at this point. some people say that the probability of softer brexit, that has just unfolded itself, revealed itself through the negotiations potentially. that could be a cushion for the currency. is that your main reason? >> i won't dispute that. at the same time i think it's a dangerous route to go down the soft brexit hard brexit "50 shades of grey" angle. i'll go back to two arguments. once we get back to below 1.25, the valuation argument c

. >> crude just entered a bear market so, why is ubs saying to buy energy shares? yep, you heard us right and the man behind the call will be here to explain what has him bullish on energy. plus, a number of classic dow stocks have gone wild. doing things they've never done before and creating obscene returns for traders. we'll give you the sord t id details and tell you how to profit when "fast money" returns. (dance music) (large boat honking) ♪ i'm living that yacht life life life life ♪ top speed fifty knots life ♪ on the caribbean seas ♪ it's a champagne and models potpourri ♪ on my yacht made of cuban mahogany ♪ gany, gany, gany ♪ watch this you're searching for something. like the perfect deal... ...on the perfect hotel. so wouldn't it be perfect if there was a single site where you could find the right hotel for you at the best price? there is. because tripadvisor now compares prices from over 200 booking sites... ...to save you up to 30%... ...on the hotel you want. trust this bird's words. tripadvisor. the latest reviews. the lowest prices. looking from a

ub for judge. >> what was your rank? are you number one. >> i want to get into that right now. >> look, if you're's school gets government money you have to have a class average as a be. this whole situation of an a- is the gentleman see is a bad situation. if they actually taught you something it wouldn't be bad but they're not really teaching them anything. at the combo bad situation. >> there's always a way for the best students to distort different trend differentiate themselves. >> i want them to compete. if they lose they learned. greatest generation hopped off a hail of bullets going off to certain death in normandy and now they said need safe zone and participation trophies. >> i told my kids don't come home unless you have one 100%. no i'm kidding. of course. thank you for joining us coming up, the u.s. open is in full swing and the winner of the tournament could be a hole in one for your wallet. ♪i hope life treats you kind ♪and i hope you have all you've dreamed of♪ ♪and i wish you joy and happiness ♪but above

joining us now is ubs managing director eric sheridan and on the phone, raymond james senior internetlyst aaron kessler. gentlemen, welcome to you both you both cover amazon, so i'll start with you, eric what message is amazon sending with this purchase of whole foods? >> this is another step in the evolution of amazon. amazon has always struggled in some of the categories that under index to e-commerce, groceries, consumer packaged goods and apparel. we think this move today moves them well far ahead in the grocery space. amazon fresh has had a slow rollout over the last couple years, yet as we talked about earlier on the earlier panel, it is the largest share of wallet for u.s. consumers so this lines up very well with their prime strategy, very well with expanding category, very well with expanding their wallet share of consumer homes. >> so pretty bullish aaron, let me ask you, you know, whole foods wasn't doing all that great recently as a public company. it was trying to shake that whole paycheck kind of image and amazon fresh in itself was having struggles penetrating the onlin

stuff.reat simon of ubs, you are sticking with us. and --ight -- right aid walgreens are calling off their stores. over 2100 stores. what is right aid going to do it -- rite aid going to do with that money? a earlier in premarket. walgreens up by over 1%. the big merger not working out for them. sky, the 21st century fox offer not exactly got the signed sealed delivered green light just yet. trading 10% below the offer price. the u.k. government are inclined to refer to the regulator, no broadcast standard concerns to the sky fox deal. can proposed they remedies to avoid a probe. 3.2 percent. the 14.9 billion dollars bid from rupert murdoch's 21st century fox. alix: busy thursday morning. has: the u.k. secretary stopped talking. of the.s. secretary interior on the white house's energy week and president trump's agenda. energy dominance. i have no idea what that means. this is bloomberg. ♪ jonathan: rupert murdoch's 21st century fox inches closer to securing sky in the u.k. that 11.7 billion pound bid getting very close to approval. st

emily: that was colin langan, the auto analyst at ubs.tcoin has been on a tear, surging more than 100% in the last two months. we will discuss what is behind the move in the crypto currency next. this is bloomberg. ♪ ♪ emily: intel has escalated the battle against rival amd in the market for high-end personal computer processors. the company unveiled a new, more powerful chip. intel will begin selling chips under a new core i-9 brand aimed at gamers. the company's only competition in pc processors, amd, says its latest product has outperformed intel chips. bitcoin has risen more than 100% in the last two months. but critics say the digital currency is showing signs of a bubble. in the last week, bitcoin hit an all time high, only to slump back down. it is this kind of volatility that gets bears worried. not to mention questions about safety, pride, lack of government supervision, and competition from other digital currency. we spoke with poly chain capital founder and ceo olaf carlson-lee. poly chain is a hedge fund that is backed by unio

delays easing way to ube ton this morning. let's switch to maps. water main break repair continues allentown road. one lane open in each direction. out by leon street. any questions fox d.c. on twitter. back to you maureen and wi wisdom. >> coming up. tourists are told to raise hands across their heads when notre dame cathedral is placed on lockdown. >> chris christie is out and a new person will lead the garden state. >> across the region, 4:57, 62, hope you can groove into wednesday. nice cool way. we're back after this. ♪ ♪ pro-tip for making ribs: don't go it alone. get these great smoked ribs. thanks. sure. twenty minutes on the grill. and they're done. you think he cares if i smoke ribs for six hours? what? what? summer made easy at amazing prices. only at giant. z2cufz z16fz y2cufy y16fy >> today on "fox news morning" two high school seniors gunned down hours before set to grut. police want to know if they were targeted or victims of random violence. >> washington for sale the source of drinking water for the district could s

ubs goes to 103. from 95 on united. >> right, the stocks, what we are seeing what ubs is seeing, there's great margin upside, especially for united. if they even come back to parody with delta, this stock has lot of room to go. oil's dropping. it has a great tail wind behind it. >> hca, upbraided to outperform. >> ik ov the that i means i like, just because it's been beaten down further. margin expansion is one of the reasons i like the stock. i still think they're better names right now. >> big run for gold this year, however, prices are down three straight or after three straight days of gains. we'll go to the futures pits next. first though, another check on oil's drop. energy is the worst performing sector of this day. it's down 2%. halftime report back after a quick break. who's the new guy? they call him the whisperer. the whisperer? why do they call him the whisperer? he talks to planes. he talks to planes. watch this. hey watson, what's avionics telling you? maintenance records and performance

r waswith already -- ube already struggling in its hunt to fill the coo role.you have got this number of posts that need filling, and there are others, cfo, etc., what do you do? joining us on this story is caroline hyde. she is in berlin today. so, you are a headhunter. what kind of person do you talk about? what kind of names are being talked about to replace kalanick ? yogesh: well, -- matt: well, some -- caroline: well, someone of clear standout experience to get rid of the bro culture. this is why the sheryl sandberg keeps on being talked about. i spoke to a key investor in uber yesterday. he told me he is hoping sheryl sandberg would be approached. we understand arrieta huffington, on the board of uber, has been pushing for her to be approached because she was a person -- according to people familiar with the matter, sheryl sandberg is not up for it. her of course, just at the end of last week, and she did not say the gender inequality, the harassment -- she said it was super troubling and she is glad the action is being taken to address this, but other n

with us for the hour today, josh brown, joe terranova, pete najarian, and erin brown with ubs o'connor let's begin with the tech rally resuming today there is a look at the markets nasdaq's up 1%, joe. >> well -- >> people getting all upset over nothing the last couple of weeks? >> i think the last ten days, we've been talking about the distinction between having a longer-term portfolio and wanting and needing the exposure to technology and really not touching the technology in the longer-term portfolio. this is a short-term trading event. i think today we are bouncing. i don't think it's over for a lot of the volatility that we're seeing in the fang names we could see more, if you want to selectively buy in your longer-term portfolio, i'm fine with that, and as far as getting out of amazon, longer term, i don't think that's the right thing to do. >> okay, difficult to get inside the head of somebody who's not sitting here to answer the questions himself or herself but weiss, what does it say when a guy who runs a tech fund at a big place like t. rowe price, who's beaten 99% of his pee

the decision follows an investigation into sexual harassment at ube and h and a lf recommendations to improve the company's culture, including the addition of board seats, an overseat committee for issues related to diversity and ethical practices, and the prohibition against romantic relationships between employees and superiors. >>> the video game industry is always looking for the next big thing. players are always looking for the next big game. the two groups are converging at the biggest video game event of the year. julia boorstin is th >> reporter: e-3 is drawing around 55,000 gamers and industry executives here to the los angeles convention center to check out the latest gaming hardware and software. the biggest console announcement this year is from microsoft. >> today we're proud to welcome the newest member of our xbox family, fittingly named xbox 1x. >> reporter: the new console costs $499. $100 more than sony's comparable p schlts ps4 pro. but it features higher definition graphics. >> if you want the ultimate, the most powerful console, and gamers want the most powerful

saratoga 62. 59 in pleasanton, ub oncity, pittsburgh, belmont. looks like we're going to have some issues getting into sfo this morning. check out the low clouds and fog bursting through the san person with doe gap. it's going to be dry and comfortable your commute planner showing mass transit cool to mild and if you're on the water it's going to be breezy again but this time breezy everywhere. i'll show that you small craft advisory next hour. hourly planner 6:0059, 8:0062. by the time we get to noon 67 degrees. we'll top at at 70 degrees at 4:00 and fall back to 60 fooich at 6:00. mid-to upper 60s along the coast and san francisco, a lot of low to mid 70s to near 80 makes you wonder where summer is. you won't find tomorrow even though highs will climb just a little bit. we'll start to see signs of it as our first 90 returns to antioch thursday. i'll let you know if that gets into the rest of our neighborhoods coming up in the weekend forecast. >>> we are looking at some overnight construction and that's about it at this point. here's a live loo

ubs is changing broker compensation. ameriprize has dropped hundreds of funds. some independent firms have frozen assets while the rule is under review. retirees are affected if their money is managed by commission-based accounts. customers may opt back into this accounts. the obama administration estimated the rule would save americans $17 billion in fees. but it will likely change again before a final january deadline. the labor department still reviewing it and the department has 38 political appointments vacant that will be important here. managers are traditionally regulated by the fcc, who will want a say in how it's written and enforced. the wild card, how congress tackles large scale financial reform and if they decide to roll back the rule completely. for "nightly business report," i'm kayla tausche, new york. >>> chris corosa joins us now to discuss what that new fiduciary rule will mean for you. he is founder and fiduciary expert at corosa asset management. good to see you, welcome. >> hi, sue. >> bottom line for me, what are consumers going to see an

what companies need to do is create an open transparent, nonthreatening process -- >> ub err released a statement to the press today saying all reported incidents were investigated. and then when corroborated swift actions were taken. uber also made a personnel move today that got a lot of people shaking their heads and wondering what's next. it involves apple we'll tell you about it tonight at 6:00. reporting live in san francisco, scott budman nbc bay area news. >> thank you scott. >>> the search is on tonight for hit-and-run drive in milpitas. investigators say the driver hit a woman colorado crossing the stret and didn't stop. the police say the victim was in the crosswalk on south main street when someone driving a white car struck her. the car headed southbound toward the great mall. police believe the driver -- the car may have suffered dents. investigators are asking for any witnesses to come forward to help them find that hit-and-run driver. >>> anticipating is growing ahead of fbi director just a minute comey testifying on capitol hill. it comes at classified information wit

now the councilman could not ubs what the man said so he engaged him further and then this happened. >> the councilman was stabbed in his side and as you heard from police lieutenant johnny walker, he said that this was a crime of opportunity. they do not believe at this time that david oh was targeted because of the nature of his work. coming up in the next half hour, we'll tell you more about the hunt going on for the suspect. we'll also talk more about who the councilman is as a person in his job and how that may have affected him being a target. >> jim ken knee says we are praying for the councilman's quick recovery. whenever violence happens on our streets, it's a terrible tragedy. when it happens near our homes, we're supposed to feel safe, it's all the more devastating. we'll bring you continuing coverage of the investigation and have updates all morning long. you can get realtime updates on our nbc 10 app. >>> breaking news in philadelphia. a woman is in critical condition after a man beat her and tried to put her in a trash bag. police say this happened last night across fro

ubs...were decidedly not. nats groans looking for a record 16th straight playoff win a championship -- the but it certainly did for the packed to the rafters crowd for the watch party at oracle armed with $20 particulars and beers nearly as -- tickets and beers nearly as expensive the hardwood had already been rolled up. fans were pumped. the shots from the dubs were decidedly not. looking for a record 16 straight playoff wins to church an nba championship -- clinch an nba championship the warriors were up against cold shots and maybe something else they're trying to -- and maybe something else. >> they're trying to rig it. you look at the calls and look at what they're calling, it's not good. >> reporter: while the officiating could be called into question, sometimes it's overconfidence that can kill a sweep like christian cruz dragging lebron's jersey around oracle plaza. >> there's no reason. when you're as confident as all these warriors fans are here, there's no reason for jinx. so let's make it happen to

. >>> stale ahead some are calling it ub foredogs. >> a new ach helping you get your pup out and about. . >>> ton at 6:00, texting for local officer. only on nbc we'll show you the new app connecting one south bay neighborhood to police department and improving relations along the which. that story and more tonight at 6:00. >>> if you're looking for someone to take care of your dog while you're on summer vacation or at work there is an app for that. walled wag app for dog walking on demand schedule it for a certain type or asap or all walkers are screened through the company to make sure your dog is in good hands. >> a background check and then you have to go through tests to make sure you know safety of the dogs. and harnesses and leashes make sure you're putting them on correctly. >> costs about $20 for a 30 minute walk. the app gives you realtime updates you can see where your dog is the entire time. get the first walk for free. the service is available in five cities including san francisco but the company is expanding to new cities each month. that is adorable. >> $20 for 30-minut

coming up, ubs wealth management at 6:30 a.m. in new york, 11:30 a.m. in london.berg. ♪ francine: tom and francine from london and new york bringing you "surveillance." be anticipating a liquidity this from u.s. regulatory release in the terms of changes to inflation. changes in banks moving away from building huge coffers of ultra-safe debt and credit elsewhere. deutsche bank says it could be in the order of $2 trillion. that's go back to elsa lignos and max kettner. this is a huge deal. it may actually skew the way that markets were? at bondan: i'm a look markets, both on the treasury side and the bond side come you see how bond markets trading has been impaired from a liquidity perspective. that is a massive, huge change. francine: that goes where? likelyian: the most change will be on bond market. on equity markets they have been of by shareholder friendly measures in the last couple of years since the taper tantrum. monthly m&a volume, absolute dividend payments, dividend growth, something like chair by x, the liquidity we had from central banks has been feed

and julian emanual of ubs has been with us. thank you both. check out tv . you can interact with us. this is bloomberg. ♪ years, bloomberg business week has cover the companies, businesses and people that appreciate the economy. today, bloomberg relaunched its magazine with a whole new look, feel, and editorial direction. to take us through what her magazine has become, we're joined by editor megan murphy. julian emanual is still with us. it is great to have you with us. >> i have not worn the stresses election night. -- this dress since election night. david: what are you doing? >> a lot of things. we have made the design of the print magazine cleaner and simpler. we want the journalism to shine through. we're committed to investigative journalism. we have three outstanding pieces in the book that show that. give it to them cook interview. digitally, we're layering on new products. we have a new app with daily content that is regionalized. whether you are in hong kong or all over the world, it will be tailored for you. we have redone the

it is used in many buildings in the ub. russia is once again firing missiles at isis targets in syria and rhetorical shots at the u.s. croarpt connor powell is track ing the action from our mideast newsroom. >> russia launched a flurries of strikes against isis in syria on friday firing six long range long range cruise missile. ms.'s latest show of force as tensions mount after an american jet shot down a searing government plane that dropped bombs near u.s. backed rebel forces. the syrian jet was targeting terrorists and in response, russia's military cut direct communications with the pentagon and threatened to target american planes west of the euphrates river in a statement about today's strikes on isis, russia's defense ministry said it provided a warning to israel and turkey but made no mention of the u.s. >> it remains in place. if russia or any other actor want to target isis, that is very welcome and something that we are okay with. >> the potential for a direct conflict with russia is only one of the challenges fa

there is a potential for people who wish us ill and want to destroy relationships and freedom, ban n ub back to dark ages, i would like to see leaders of tech giants and government working together because, i think it would be wrong if we had heavy handed legislation that would inhibit the free exchange of information between citizens across the globe but we do need to recognize there are roots that are exploited by terrorists, if we could find a way of ensuring as we have to be fair in the parse with issues lao fast with issues like child pornography, means by these responsibility could have their activities closed down and then hunted down themselves so. the better. >> next part 2 of my interview, he explains the long-term nature of that terror threat. i promise you, you will not hear a better explanation of what is ♪ pressure. i feel it everyday. but at night, it's the last thing on my mind. for 10 years my tempur-pedic has adapted to my weight and shape, relieving pressure points from head to toe. so i sleep deeply and wake up ready to perform. ♪ now through june 11th, save $600 whe

paul donovan of ubs, staying with us.es from putin, holding a news briefing in moscow. he says certain countries are trying to contain russia. i see russia-phobia in some countries. erik schatzker sits down with a ceo. this is bloomberg. ♪ nejra: you are watching surveillance. the economic forum is in full spring -- full slowing and we are heading to erik schatzker. he is joined by alexey mordoshov. erik: good to see you. you are in the steel business. like freeteel, you trade. you like to see the free movement of goods across the globe. what does the apparent move towards protectionism in the united states represent? -- driven by the -- of global trade . i believe we should not forget the contribution global trade makes in the development of the world the past 15 years. erik: what are you most concerned about? which country concerns you the most? alexey: i cannot distinguish anything. erik: between the united states and europe? -- the those that developed world, i am afraid -- reciprocity. there is noears protectionism.

a coworker said at the time of those duis he was not a driver for ubs but work for the company loading and unloading packages. stay with us for continuing coverage. >>> there is a heat advisory for the bay area. with the heat threat comes the threat of grass fires. the firefighters are paired with full-time professionals for the training. >> that is why we do this training. that is what is great about it. when you are in the field you are ready to go. >> cal fire said it has seen twice as many fires statewide compared to this time last year. the training resumes tomorrow. >>> is a true temperatures will be 20 degrees above average? >> in some cases. we are looking at a 40 degrees spread from sunday 2/20 degrees over. we are heading into a warming trend. we talked about fire danger but as we go through the next couple of days temperatures inland will be in the triple digits and that will increase the fire dangers. there is a heat advisory that starts on saturday. stays in effect sunday and monday. could possibly roll into tuesday at this point. the real heat will be inland. we have patc

there is a potential for people who wish us ill and want to destroy relationships and freedom, ban n ub back to dark ages, i would like to see leaders of tech giants and government working together because, i think it would be wrong if we had heavy handed legislation that would inhibit the free exchange of information between citizens across the globe but we do need to recognize there are roots that are exploited by terrorists, if we could find a way of ensuring as we have to be fair in the parse with issues lao fast with issues like child pornography, means by these responsibility could have their activities closed down and then hunted down themselves so. the better. >> next part 2 of my interview, he explains the long-term nature of that terror threat. i promise you, you will not hear a better explanation of what is going on anywhere. you won't want to miss it. ♪nausea, heartburn, indigestion, upset stomach, diarrhea!♪ here's pepto bismol! ah. ♪nausea, heartburn, indigestion, upset stomach, diarrhea!♪ at angie's list, we believe there are certain things you can count on, like what goe

the head of ubs in china calling it a milestone movement. that is on its way.he boe governor reiterates the risks of brexit, we will look at the global impact. this is bloomberg. ♪ haidi: the latest business flash headlines. repeated his view that globalization is positive, saying it should be expanded, not rejected. speaking to charlie rose, he said 20,000 companies are using alibaba in california alone and china will be the engine for development for the next three decades, and it is vital foreign companies don't miss the boat. >> u.s. domestic consumption in the past 30 years was the engine of the global economy, and i told people at that time saying that it you missed the over 10 in the of selling your products to the usa, to europe, you may iss the chance, and today want to tell the people that if you miss the opportunity of selling your products to china, you will miss the future. state ownedna's sinochem considering listing its .il related business the listing would be in line with president xi jinping's reform china's bloated state enterprises by the in

changes to the employee handbook also, the initial investigation started in february after a former ub in her time there. >>> hayward is declaring itself a sanctuary city. the city council approved the sanctuary city resolution last night but -- seeks to foster trust between city officials and residents regardless of immigration status. and the fear of deportation during the crackdown on illegal immigration on president donald trump has driven some low income families off of food stamps. many residents include a mix of legal citizens, children born in the u.s. and parents wh are not. often an adult who is not a resident who applies for them and now afraid to side sine up or ready to let the benefits to expire. the food stamps do not effect the chances of becoming a citizen. >>> violate protests before yiannopoulous had a chance to speak and now cancelled. one woman said she was in danger because she expressed a different point of view from those protesting, asking for $23 million. berkeley is defending its handling of the situation. >>> a man in a wedding brawl -- the involved about 70

it would be indirect elections, but you have the former ubs executive citing bribes to over 800 politiciansit is a story ongoing. thanks, julia leite. mark: coming up on the european close, we are following stocks less than 35 minutes until the end of the tuesday session. stocks are lower today. a day dominated by central bankers. we have had the ecb president speaking in portugal. janet yellen speaks in london, later. ♪ mark: at 11:00 a.m. in new york and 11:00 p.m. in hong kong, 30 minutes left in the trading day. from london, i mark barton. vonnie: from new york, i am vonnie quinn. this is the european close on "bloomberg markets." ♪ mark: here are the top stories we're covering from around the world and bloomberg. major technology stories today -- the eu slapping google with a record $2.7 million fine allegedly boosting its own search results. companies from merck tech and advertising giant hit with a cyber attack. big news from central banks today. ando draghi is in portugal is the boe's connie going to toughen requirements for lenders? that is due before janet yellen speaks to the. da

. >>> a shakeup at ub are aer tod. what it means for you if you use the service. > its new mural. we were there for the ceremony as our o jim vance waswn for years, fios has been promising fast internet to small businesses. but for many businesses, it's out of reach. why promise something you can't deliver? comcast business is different. ♪ ♪ we deliver super-fast internet with speeds of 250 megabits per second across our entire network, to more companies, in more locations, than fios. we do business where you do business. ♪ ♪ >>> now at 5:30, 15 new faces adorning the wall of the ben's chili bowl. that looks amazing. hard to sell which is more famous, ben's chili dog smokes or the murm outside tal outside. as tom sherwood will tell us, it now has an updated mural. it was dedicated today and our very own jim vance was there to talk about his likeness being painted on that wall. >> the blessings never stop flowing. i came here on june 10th, of 1969. and within one of the first plat i came to to spend my money this d.c. was ben's chili bowl. and all these years later, he's still here

namely hsbc and ubs saying it is the euros turn.s risen versus every major currency this quarter. we might talk about the reflation trade being dead but it is moving across the atlantic. you can see the trend channel on the euro and then, sticking with currencies, i just want to look , reaching able long-term resistance line, testing that long-term average against the ruble for the first time in more than a year. no huge moves so far in the session. overnight, there were some moves and it is interesting to notice the dollar index back up at that mark we saw lower in the 90's earlier on but not much moving in this session. the mexican peso is back above 18, enough that nafta renegotiations will start according to robert my heiser, anyway. tradinghore you on is back at 8.63. the emerging markets not having too much impact on the yuan anyway. the spread in the u.s. at 80 basis points, still in those ranges. let's look at developments, global. you can see very much itbo-related when you see lower. it is the australian dollar, the canada

finally, harley davidson down about .2 after ubs said may retail sales for the dealers could be down 8%, down more. these are some early losers on the day. turning to health care, it has been on a streak of record highs. the s&p 500 health care index up until today. really, a rotation into health care according to tina martin items out of the overbought sectors into oversold but she said based on the recent rally, health care in the near term is over but we are seeing some buyers trade lower. finally, let's take it across asset class. when we look at what is happening with oil and the dollar, you can see the bloomberg dollar index is up .3, 7, first up week since may and that seems to be pressuring crude. crude is down for the first time or five weeks in a row. we will be paying attention to this as the day goes on. nejra: so dollar higher on the week and sterling lower on the but ifholding above 127 these eight years to the day since the brexit vote, so i wanted to look at u.k. assets -- see how big their they fared. the pound some 16% lower since the brexit votes. this is a chart t

because it will really be ub settled for tomorrow morning. gets us going at 10:00 a.m. we're still seeing southerly winds. really a a messy morning commute for your friday. then hour by hour at 3:30 p.m., we're not clear yet. we have that cold front moving through. and then we do have this i isolated thunderstorm. so kind of a messy friday in the forecast. early saturday morning, keep in mind it will be heavier overnight friday into saturday. so when it's all said and done, we could see over 2 inches for philadelphia. over 2 inches for vineland. and about 2 1/2 inches of rainfall in total for westchester. so heads up, you'll certainly need the umbrella. neighborhood high temperatures for tomorrow seeing lots of 80s. it will be muggy and humid as you saw. newtown at 85 degrees. with the threat of the isolated thunderstorms, if it you had 87 for galloway and it looks like we're also seeing 80s and 90s for delaware. follow up on facebook for more information. >>> the race is on to find a new place to study for students at new jersey salem middle school. part of the ceiling

there is a potential for people who wish us ill and want to destroy relationships and freedom, ban n ub back to dark ages, i would like to see leaders of tech giants and government working together because, i think it would be wrong if we had heavy handed legislation that would inhibit the free exchange of information between citizens across the globe but we do need to recognize there are roots that are exploited by terrorists, if we could find a way of ensuring as we have to be fair in the parse with issues lao fast with issues like child pornography, means by these responsibility could have their activities closed down and then hunted down themselves so. the better. >> next part 2 of my interview, he explains the long-term nature of that terror threat. i promise you, you will not hear a better explanation of what is going on anywhere. by the time you head to the bank and wait to get approved for a home loan, that newly listed, mid-century ranch with the garden patio will be gone. or you could push that button. [dong] [rocket launching] skip the bank, skip the waiting, and go completel

typically airline's fall when higher, but this is all reflection out of a note from ubs.sts say that revenue is likely to be hurt. there is a revenue estimate for seat mile and this is having to do with the overall decline in oil that the typical companies over promise. ultimately that revenue will lag. fergusonak with george and he agrees on the point that fares are likely to be dropping, something he had been saying for quite some time. let's take a look at a bigger bright spot over the last few days. many have been talking about it as a rotation into the financials. this is a five day look at a lot of the big banks. this sector turned positive after having flipped negative on the year. some of that could be a move toward value as investors are moving away, but it could be in sympathy with the 10 year yield. we have an auction coming up at 1:00 p.m. the 10 year yield has been rising. we happened to the bloomberg and v 6958 and#b2t this is what they have been trading in since the election. we look at the fed drop rates back in december and the same thing in march. we now

ubs,would be in line with we expect the u.k.o slow down and that will have an impact on monetary policy. optimal levelhe for governor carney of pound sterling? does he need a weaker or stable pound? reinhard: we need less uncertainty. that a weaker currency might be good for , good for creating exports, but in the carney environment, where inflation shows up a lot and investors are uncertain and perhaps the households and corporations are uncertain, if we see further declines in sterling, that might not be good for confidence. tom: thank you. we will continue. in our next hour, this will be fantastic. inflation, what we have seen in the last way for hours at the fed. looking forward to speaking to james sweeney. he says do not worry about deflation. this is bloomberg. ♪ francine: this is "bloomberg surveillance." the counsel investigating russians interference in the 2016 election will investigate whether donald trump tried to slow the probe into michael flynn. let's get more with kathleen hunter. still with us, reinhard cluse.

the likes of jp morgan, morgan stanley, ubs, they say the chances have increased this will happen.t is because the msci water down its ambitions, essentially including 169 a shares if they make the decision to include 448 the last time. china also initiated the hong connectshanghai stock and suspension time for some of their stocks have been reduced. we can get a terminal that shows 169 shares that might be included. you can bring up a chart showing the shares and how they performed versus the hong kong stock exchange. they are missing a wide gap particularly toward the end of the chart, versus the shanghai note. in terms of what this means, the significance we heard earlier in capital from these management, she said it was significant not just for china but for foreign investors. >> it is very symbolic. i think it will be a big wake-up call for the industry, because let's not forget even if we're in years, we are hardly rocking the boat. we are talking about a drop in the fee for chinese markets. in the sea for attorneyr chinese markets. reporter: morgan stanley says the immediate

the move came after the german issues.ns the representatives for ubs and deutsche bank declined to commentur bloomberg business flash. >> thank you very much. the secretary of state has weighed in on the qatar crisis and says that they will find it difficult to comply with some gulfds to end the diplomatic crisis. this could be a basis for talks. the diplomatic transport links have been closed and the oil markets are moving and responding to the global aspects. ands a slightly better bid we are joined now by blackrock. of equitieshe head and asset management. welcome. when i look at the oil price, i ive been away for a week and looked at the numbers. the issue is a debate and they cannot get oil off of the floor. rejuvenated and their pumping it out of the ground. range?trapped in a tiny what do you make of the oil markets? we look at the inflation prices and the history of the first oil well. 43.5 and we are in wee with the long-term and can talk about the oil prices and there are the long time gives a lot of there is thed and i don't think it was necessarily a great story, shothe second

. >> it's the new work of an ub known criminal using a scam that's been around for years. and post them to try to steal money from the unsuspecting victims think they are getting a great deal, but often end up wiring money to a crook. >> reporter: still using the incident to issue a warning urging vacationers to beware of listings on sites like craigslist. police telling me they too have gotten recent reports of rental scams targeting that community. >> it makes me frustrated for the consumer. >> reporter: a woman told police she fell for one of these scams after pay iing she got here on saturday only to find out it had been legitimately rented to someone else. >> that breaks my heart. >> reporter: authorities say the safest course of action is to use a local real estate agent to make sure you get what you pay for. >> use your due diligence. dot your i's and cross your t's to make sure everything is legit. >> police suggest doing your homework on the property owner and even ask for references all to avoid becoming the victim of a real summer steal. i'm ted greenberg, nbc 1

joining me is brad gerstner and an investor in ub aer and very publicly united.s good to have you. you thought walt's column was right on the mark. >> spot on. first walt's a legend. i was thrilled to see him get his just due. i like that he started saying it's too hard to compute and ended by saying i now have a glimpse into the future. it's set for us to start solving problems. >> the investing theme that follows from that is what? >> what do you situation? >> as we discussed, we're investing in andy rubin's new venture, essential. we think andy is going to build the best android devices in the world. ambien os we believe will be the beginning of the push to a post-app world. rather than having to download all the apps to book a hotel room or order something from the kids, you're just going to speak it, whether in your car or office or home. this isn't about wearing helmets and virtual reality and crazy silicon valley stuff. this is about getting your dinner, ordering clothes for your kids and booking your hotel. >> andy reuben has says he wants essentials devi