keep an eye on unilever. we will hear from the ceo.he underlying sales number not exactly meeting the numbers the market was anticipating. s.a.p. could be one of the positive stories and abb doing well. is another story at the other and of the spectrum and unilever. i am looking forward to hearing what he has to say about his business and what is happening in the wider macro environment with this trade story beginning to kick off. , the best partl about earnings season is we care about executives about their business. we'll hear from a s.a.p. cfo in a minute. the interesting thing is to look at the beginning of earnings season. i have ea which can take you through earnings results, a report card am a if you will. we're looking at growth that is 9% over -- in earnings over the same quarter last year and sales growth of 3%, which would seem the attempti switch to surprise, you can see that we have not beaten analyst estimates so far. only 66 companies have reported but we are under the analyst estimates for earnings and barely over

thank you very much, unilever stock is flat in london, by the way. web page and also that dvds are not dying out which is good news for me, who doesn't like to adopt new technology. you're watching business live. our top story: brussels tells eu governments to get ready for a no—deal brexit as political divisions deepen in the uk. the holiday season is upon us. and many people will be hunting for something more spectacular than lying on a beach on a sunlounger. nothing wrong with that! i love it when i get a chance. that's led to an explosion in companies offering less traditional holidays. one of them is rocky mountaineer, which is a tour company specialising in luxury train travel in the canadian rockies and pacific north west. it was started in 1990 and bills itself as the world's biggest privately owned luxury train company. it draws customers from around the world with a third of travellers coming from the us. there's also a strong showing from australia and the uk. but the company, like many others, is looking to china to help drive future grow

let's get to the numbers from unilever.bers coming through for the second quarter underlying sales up by 1.9% and that is weaker than the estimate. an increase of 2.2%. i have written here on my notes watch brazil. how much damage from the strikes . strikes in brazil adversely aroundng the business by 16 basis points. they are giving us the second quarter underlying volume, pricing up by 0.3. the expectation for the full-year is unchanged. they had warned the first year would not be as good as the second half. we had been warned about that set of circumstances. their full-year expectations remain unchanged, on track for sales to beexpect in the 3% to 5% change -- range. belowct they have come in the estimate and below the estimate compiled by the company themselves. ofwill talk to the ceo unilever at 7:50 a.m. u.k. time. let's see what he will say about the global consumer and the global spend. it down for you. full-year diamond and copper forecast remain unchanged. they are increasing their full-year platinum guidance at 2

. >>> unilever second quarter sales miss expectations but the company backs its full-year view despite challenging competition. while most support the move to the netherlands, the ceo understands the frustration of others >> there are index investors in the uk, so you will get some dissatisfaction from these index buyers, which we understand. >>> president trump's former adviser steve bannon tells cnbc it's time to confront china and says the country's trade policies gutted many local economies around the world >> a trade war will end in victory. what you will see is a reorientation of the entire supply chain out of china. >>> good morning as mentioned in the headlines, it's been a flat day for traders so far the stoxx 600 is down around a quarter of a percent so far. if we look at the individual markets behind that number, you can see why that is the case three of the four major indices are in the red with the ftse mib trading at the flat line the cac 40 down 0.57%. the ftse mib down 0.01 you can see banks and insurance sectors are in the positive. oil and gas above the flat line. we'

. >>> finally, unilever says it has completed the sale of its food spreads business to kkr. that deal, which was announced last year, is intended to help unilever focus on its stronger owth areas. shares were up more than 1% to 55.77. sue? >>> bill, the lighting company acuity brand said strong demand for its infrastructure and utility products h spedes rise and top estimates. profits fell, but they still came in well ahead of expectations. the shares popped more than 12% to 132.05. >>> micron technology says it has not yet received an injunction, halting sales in china. earlier today, bloomberg reported its rival, united micro electronics, said a chinese court had temporarily banned micron from selling hard drives after a patent infringement lawsuit. shares fell 5.5%. >>> we told you last night thato axium was to reaching a deal with ad companyntpublic group. now it's official. interpublic will pay nearly $2.5 billion for axium's marketing sotions business. they said them trim debt and add to the stock buyback program. shares jumped to 39.45. meanwhile, interpublic fell to

was unilever's ceo speaking to bloomberg. the marketst how are doing.w a mixed session in asia with chinese equities coming under pressure. the yuan has been under focus, basically if you take a look at offshore and onshore, we have 6-7 points people saw as a line in the sand for the pboc. we have seen european equities come under pressure. if i take a look, we are unchanged after losses earlier. and the 10 year yield pretty steady. "surveillance. oh continues in the next hour. this is bloomberg. ♪ ♪ tom: this morning, ever and ever stronger dollar. emerging-market economies will and must adapt. will the strong dollar diminish u.s. exports? official,ior pentagon frantic to learn what president trump is promising, in the one-on-one in helsinki with vladimir putin. may turnover the ambassador to the russians? so much for the super commodity cycle. gold it cannot find a bid this morning. this is "bloomberg surveillance," i'm tom keene in new york, nejra is in london. give me a brexit update. we have left london. his visit for a couple weeks? everyone goes

there is a lot of of a flat line where there she was using the intelligence to resign giant unilever laws right 3% despise like distinguish order there is always ultimately implement on priceline for more. stringent it's already been downtown seems years. downtown. doc love revenue and overwork idolizes trade changes also [inaudible] slightly just cross the dow jones our taskmaster fox already only on 399% guy british version later letters hurst concerns are taken [inaudible] families. this media mantel and scare their does anyone hear abou. the for said excitedly boxcars drop droplet lately skiathlon house send. faced with robin williams is a guy riding in the legislation that israel has to get to get reiterated. these two young young. founded on restriction in the most unlikely places. plastic waste waste. until this more. a one man man action as another. opportunity like transmissions your car cost. would you using. using regulated use other others justice. is and we five five zero the momentum traction. this was women's contracts extractor. with anything relationship. thousands t

leaders hosted by theresa may, at an undisclosed location, with bosses of some big companies like unileverine and goldman sachs. but what will the mood in the room be like? ben thompson takes a drive around london, in style, to find out. they call it the spatial relationship and the businesses on both sides of the atlantic that has meant sales, profits and jobs is it still important today? i am off to meet some british firms that do business with america and i am doing it in all—american style. the uk sells £100 billion worth of goods and services to america every year. looks like machinery and pharmaceuticals and services like banking and insurance. it is a lucrative market and one that is growing weekly. over the last five yea rs, growing weekly. over the last five years, our exports to america have jumped by more than a quarter and that has been good news for this firm. it makes foldable bikes and is selling more than ever in america. three years ago we realise there we re three years ago we realise there were 400 million people in america with a very strong cultural ties, the same chal

a big sign this is a positive move for the company as a statement account from unilever two weeks agoi first reported the new account suspension. unilever in february was threatening to pull hats off of also jeanette works because of the toxicity of them. after the new disclosures from twitter, they said this is great and we are happy about these moves to get rid of fake accounts on twitter. emily: twitter stock has been up 70%. could this dent the turnaround? >> i don't think this will dent the turnaround. we saw a note from jp morgan that said this is a buying opportunity. there has been a misunderstanding about these disclosures and the impact it will have on monthly active users. this is a positive sign that jack dorsey is following through on his vision to increase the health of the platform. emily: selina wang, thanks so much. meantime, alibaba in talks with bt about a cloud services partnership as it challenges amazon's dominance in europe. alibaba has an arrangement with vodafone germany. it has become key to alibaba cloud success out of china. the company has pulled back in t

kicking off with unilever, still feeling the impact of the trucker strike in brazil.s of ben & jerry's ice cream missed estimates, and unilever announced big could make cuts from the lost ground in the second half. meanwhile, it was unable to make up with a setback in the beginning of the year. bet on the cloud business is paying off. a german software business giant raise the outlook for this year and next. they rosey says that faster in the second quarter than in the first. and second quarter profit rose more than expected at volvo. they capitalized on increasing truck demands and they were successful with truck orders raising 10%. and that was your bloomberg business flash. this is bloomberg. ♪ 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

to pretend like they like products didn't actually have the reach their follower accounts claimed unilever chief marketing officer keith we need told journalists last month that people having an artificially inflated follower count made up of bots of redundant accounts is that best deceiving and at worst fraud it serves no one and undermines trust in the entire system it seems like capitalism and good sooner isn't saving the day or simply building our forms of matter of communication in their image so let's watch the purge influence our way to some answers and start watching the hawks. the only legal theory that looks like real that this would be a large apart of. what it looks like you let down i got. a little. bit uncertain. welcome everybody to watching the hockey i am tabitha wallace. and joining me from new york is my co-host tyrrel ventura you do an. always a pleasure with the wow i am shocked shocked to find out the our third grader and his three million followers. are maybe maybe that's a real person. but this random person on twitter the you know i'm amazed that this person is you

shares are trading up about 2.5% overall in terms of what is happening for unilever. let's get on to a different asset class. is the story of king dollar. every single major affect is in the red, but we want to focus on the british pound. let's have a look at what is happening at the continuing downward trend. sterling off by 1.8% off the last three trading days. of course, brexit is a key issue. new brexit secretary has been in front of parliament today trying to explain how they thea break the deal through eu. and how will the ongoing brexit conundrums continue. this is also being pushed down by data. u.k. retail sales hit where it hurt. we also saw june not doing as well as expected. too busy drinking and celebrating football to buy anything in the department stores. julie hyman has the latest on the trading in the u.s.. julie: not much celebration in the market in the u.s.. if you are long, as we see, a selloff. what is interesting is yesterday we saw gains by led -- led by financials, and now it is financials that are leading losses because of a host of disappoin

unilever has done well but in the end, it's a challenge.berly kimberly is a good company but the raw costs are bad. and in going forward what we're going to hear about is higher oil. again, 3m is a little too negative now. >> we didn't mention the iranians responding to the president's tweet yesterday saying color us unimpressed. the world heard even harsher bluster a few months ago, as we continue to watch the dynamic and the affect on oil. >> interesting less bluster that's sml you don't hear much i'm cutting my numbers blustered. tariffs are the greatest >> not muhammad ali. >> he's been replaced. >> it's going to be interesting to see if alphabet hangs in there. amazon is not far behind >>well, look, again there's a have, have not there's a group of stocks it's facebook, amazon, netflix, what used to be google. >> i shall call them faang. >> yes faang is doing well. >> look what i have created! >> hey, there's an unbelievable note about apple they said service is not that good the new phones i don't know how well they're going to be rec

so-called influencers whose audience was seventy eight percent fake marketing execs a continent on unilever is one of the world's biggest consumer advertising spenders but worries about the lack of transparency in the influence of space chief marketing officer keith weed says we will not work with influencers who by followers we will prioritize partners who increase transparency and help eradicate bad practices throughout the whole ecosystem. these producers work is all above board but as a true answers become ever more influential companies could be taken for a ride. and here's a reminder of the top story we're following for you britain's secretary david davies has resigned in a serious blow to britain's prime minister just nine months before the country needs the e.u. davis said to the government's brics the policy would leave the united kingdom in the best a region negotiating position. and you're watching news live from berlin we'll have more for you at the top off the hour and you can get always the latest news and information of around the clock on our website thanks for watching. and

to pretend like they like products didn't actually have the reach their follower accounts claimed unilever chief marketing officer keith weed told journalists last month that people having an artificially inflated follower account made up of bots of redundant accounts is the best deceiving and at worst fraud it serves no one and undermines trust in the entire system it seems like capitalism and consumerism saving the day are simply building are forms of matter of communication in their image so let's watch the purge influence our way to some answers and start watching the hawks. this is. real that it was. as good a part of. what it looked like you that i got. this. week's honoree. welcome everybody to watching the hockey i am tabitha wallace. and joining me from new york is my co-host tyrrel ventre how you do and always a pleasure to have with the wow i am shocked shocked to find out the arthur hater and his three million followers are a great or maybe maybe that's a real person. but like this random person on twitter the you know i'm amazed that this person is you know they're going to se

to pretend like they like products didn't actually have the reach their follower accounts claimed unilever chief marketing officer keith weed told journalists last month that people having an artificially inflated follower account made up of bots of redundant accounts is that best deceiving and at worst fraud it serves no one and undermines trust in the entire system it seems like capitalism and consumerism saving the day are simply building are forms of matter of communication in their image so let's watch the purge influence our way to some answers and start watching the hawks. the only legal the. real that it would be a luxury to pull out of. the what is it like you let down i got. this little. things out and i. welcome everybody to watching the hogs i am tabitha wallace. and joining me from new york is my co-host tyrrel ventura you do an. always a pleasure with the wow i am shocked shocked to find out the our third grader and his three million followers. are maybe maybe that's a real person. but this random person on twitter the you know i'm amazed that this person is you know they're

. >> unilever expects sales growth to bounce back this year after missing analyst estimates in the firstn brazil walked off of job. to protest rising fuel prices. >> the second half of the year we do believe there is a bit more pricing come in because it is relatively on the low side. that will obviously help. we have facing of initiatives coming for in the second half. we think of the guidance we have given to the markets to be between 3% and 5% range. we will hold that pattern. ♪ >> j&j shares up after second quarter was solid. the company did give full-year guidance below median analyst. plus, it had to trim the forecast for the drug sale revenue due to a stronger dollar. is that a trade war effect and how does that affect other parts of the business going forward? >> it is not attributable to the trade war at all. i would say it is just the impact, the macro impact that we manage on operational sales performance. if you look across our business, our performance was very balanced no matter what region you specifically look at. domestically, we grew 9% outside the u.s. outside the u.s.

you can >> unilever expects sales growth to ounce back after missing analyst estimates in the first halfyear we do believe there is a bit more pricing come in because it is at the low side. i will obviously help. we have facing of initiatives coming in the second half. we think of the guidance we have given to the markets to be between 3% and i percent range. ♪ >> j&j shares up after second quarter was solid. the company did give full-year guidance below median analyst. to a stronger dollar, is that a trade were effect and how does that affect other parts of the business going forward? >> it is not attributable to the trade war at all. it is the impact and macro impact that we manage on operational sales performance. looking across our business, our performance was very balanced no matter what region you specifically look at. 9% outsidey, we grew the u.s. 8% so very strong in terms of tariffs were impact on our business right now. animal at this point. -- minimal at this point. >> and exhilarating business in the second quarter, the german software giant and a fitted from increased spend

but unilever, sales were hurt by weak pricing and trucking strike in brazil.y expect a lift from stock prices up nearly 3% lastly, sky set to close lower after comcast dropped the bid for fox assets, deciding to focus on the offer for sky back to you. >> thank you very much. >>> when we return, tim westergren is with us, taking on streaming wars, with the dow down 81. "squawk alley" continues in a moment >>> i'm michelle car use oh cabrera. here's your cnbc update. president trump railing against the european union fine. he tweeted i told you so the eu slapped a fine against one of our great companies, they have truly taken advantage of the u.s. but not for long. >>> an explosion in an army depot, three seriously burned in southern pennsylvania. it was quickly contained no word what triggered the blast. >>> israel's parliament approved a piece of legislation that defines the country as the nation state of the jewish people prime minister netanyahu said the vote was historic. opponents say it marginalizes the country's arab minority. >>> jeff zucker is going to

chocolate confectionery market which expanded 2.5% from august to april, the company which supplies unilevercolate for its magnum ice cream. growth they said would continue at the first half pace in the second half as it -- as shares are little changed on the day. day, lookstory of the at much these shares, down by almost a third of its value. the french engineering company says it has uncovered $10 million of forged purchase orders in the council recently acquired company. said the finding will not have a material impact on first cap financial statements. the takeover of the california company was a move from kkr to create the world's biggest provider of research, engineering, development services an idea was completed in march with shares -- shareholders worried. sending the shares down by 20%. -- 28%. vonnie: tight ranges and low volume for socgen. interesting movements in the last game -- in the last few days. with the currency movement, you highlighted the emerging-market currencies, which have been selling off, we see dollar-yen at 112.48. some saying this is due to technical factors b

ice cream, national ice cream day and we have a huge selection and the people at unilever have helpedrs made for us. but you can make your own at new york's soho store through labor day. there's also gelato from talenti. i want to tell you, it's just the italian word for ice cream but there is less fat. people think that and there is because italian law requires gelato to have 3.5% butter fat, ice cream usually has 10% butter fat. >> oh, that's good. >> just so you know it's the little facts we have here on the "pop news" for you. >> healthier. it's delicious. >> that's what they say. 87% of us have ice cream in our freezer at any given time. >> look at this one. >> this is terrible. >> i'm sorry, dan. dan is not eating. i'm so sorry. >> did you see this one? you can crack it, too. >> yes, so that's the magnum top that has a little chocolate top on it. >> you squeeze it to crack it? >> you slam through it with your spoon or finger, whatever you use, and get to the ice cream at the bottom. so while you indulge, we have to move on. kate upton, ladies and gentlemen, is having a baby. >>

unilever you can see down by only 0.2%.opean markets generally higher after asian stocks climbed overnight. the yuan tumbled. now frommore joins us averaging investments -- aberdeen investments. welcome. let me get your take on what we are looking got -- at in this equity market opening. why do you think investors like asia;s market -- asia's market? luke: it is all about the stimulus we see coming out of china come the weakness of the yuan. this is about china's response to the trade war. we could be at the start of a new risk on phase of the market, at least for the next few weeks. matt: we see financials doing well in asia. i think that has to do with rising rates in japan. we see financials doing well here. could this be a star of a financials leading the way? is that a good sign for markets? luke: yes, i think it well could be. growth in the u.s. has been led by financials. ubs this morning was pretty decent as well. we could see the financials benefit. jgb is popping up to seven, nearly eight basis points. matt: it is

if they come together, what kind of deals can they do with the likes of unilever and the businesses thatthem? there has been regulator to come together in the u.k. market. consolidation, the beefing up of supermarkets, seems to be one of the trends we are watching in the european equity space. we will get more details, but a fascinating story. let's get to the asian equity session. you went through the weakness there. this is from -- we are down by more than 1%. hong kong markets out of market. the yuan continues to go down. they are managing its decline, which is due to weakness in the data. we do see the yuan weaknesses continuing. we see euro weakness, down by 0.3%. we talked about what a tough time angela merkel is having at the moment, as she tries to hold her coalition government together. markets in asia to be dim view of the news about the lack of decision-making on the migration story. the mexican peso almost flat. we saw a boost to the mexican peso. the markets got excited about the certainty, the size of the victory, for amlo, the leftist candidate we have been talking about.

. >> the other problem is the online upstarts like dollar shave club bought by their competitive unileverhares did return around on the up beat note but down 12.5% this year. >> hanging in there around 80.62. when we come back, the federal reserve kicks off a two-day policy meeting we'll check in with former chairman alan blinder in a moment and a look at the estate that is breaki ror wn rur ngecdsheweetn. >>> good morning, everyone, here's your cnbc update for this hour the trial of paul manafort getting under way in a courthouse in alexandria virginia this is the first trial for robert mueller since his appointment more than a year ago. >>> a roadside bombing in western afghanistan killing at least 11 people on a bus, including women and children more than 30 were wounded. the bus was on its way from harat province to kabul. no group immediately claiming responsibility for that attack. >>> a philippino soldier and four villagers killed by a bomb that exploded in a van that troops were inspecting in the southern province. the blast occurred after militia men flagged down the van at an in

. >> looks like we are resuming gains, and on the earnings front we are waiting on unilever gaining aheadnalysts were more focused on topping the $1 billion mark and large construct wind. icare also keeping an eye on ici. and on the eagle front, we are waiting on prices ahead of the rupee, the first day. our guest was talking about indian markets being the best in asia but if we take a look at the advance, it is just three stocks that have dominated. those are just a little over half of the stocks, and that is down from 94% we saw in january. >> thanks for that. sophie kamaruddin. more lines coming through from that eu-china summit. the chinese premier has been talking saying that trade wars have no winners. this summit with the european union is not actually targeting third parties. airbus on the verge of new deals in asia, one could be valued at $23 billion. we will tell you which. that's on the way. ♪ ♪ >> and we are back. airbus,uster deal with $23 billion worth of planes. our transport reporter joins us from singapore. big deal. what is driving it? thwell, asian is one of biggest gro

unilever lagged other internationally exposed stocks after the consumer goods maker reported lower—than—expectede business news. a new survey says up to a third of plastic packaging used in supermarkets is very difficult to recycle, or can't be recycled at all. the consumer watchdog which? found 29% of packaging is likely to go to landfill and wants simple recycling labels to be made compulsory. it found that lidl had the lowest proportion of easily recyclable packaging. nikki stopford is director of research and publishing at which? needy, thanks for coming along to talk to us. tell us more about the details you found in the survey? we wa nted details you found in the survey? we wanted to find out how easy supermarkets are making it for consumers to recycle. we ordered 27 own brand products from ten of the biggest supermarkets and we unwrap those products, weighed them and analyse the packaging to see how easy it was to recycle. we found some really consistencies in that. some supermarkets are doing better than others. in times of kerb—side recycling which is the most easy way to recycle, at th

but owned by unilever. >> probably short list of an amazon headquarter of the list, one of those companies 20, so there are 20 finalists for the amazon headquarters, could be one of them two of them are not in states, so that's washington, d.c., and toronto, ontario >> that's interesting. >> but otherwise it could be one of those 18. >> what do you think of massachusetts these days >> what's that >> is he try igto guess? >> no, because everybody thinks boston could be hq2 and there's a whole thing going on with the health care -- what are you laughing about >> i don't know, i -- >> amazon and jpmorgan health care program >> good sports teams >> massachusetts always does well massachusetts has a great education system, has a really good workforce so is that where i'm going to be on monday? i don't know i do know, but you don't know. >> we'll find out on monday. >> you're going to find out on tuesday, but i'm going to be in the top state starting on monday we'll give our diabolical hints all day on monday. >> i got one more, how long is the flight you're in california right now how much trav