air france—klm is taking a 31% stake, worth £220 million, in virgin atlantic as part of a four—way jointo 20%, while delta will retain 49%. sir richard said he would remain "very much involved" after the deal. germany's transport minister has announced a recall of 22,000 porsche cars to remove what he says is illegal emissions—controlling software. he said that luxury marque porsche would bear the cost of the recalls of the affected 3—litre cayenne models. let's have a look at the markets. driving those markets down is the top story, the amazon results. sales revenue is up the profits are down is amazon reinvest a lot of the money and that is pulled down the markets in asia. the price of oil was down slightly. we will keep an eye on that across the morning. thank you. the bbc understands at least 60 buildings have failed the government's whole system fire test in the wake of the grenfell tower disaster. dan johnson reports. all those touched by weight for a full picture of how this fire spread, other residents in other towers are nervous. wondering if they are safe —— grenfell. these blo

earlier we spoke to the chief executive of virgin atlantic— he explained what the deal could mean forngers it adds value for. for the virgin passengers who are in the uk, the biggest thing is how we can coordinate our frequent flyer programmes to offer more destinations they can earn m miles on, notjust destinations they can earn m miles on, not just delta destinations they can earn m miles on, notjust delta flights and other flights, but also the klm flights to everywhere they fly. plus, they can use those miles for virgin atlantic, frequent flyer miles to go to new places on air france and klm's network. we can make our programme quite a bit better. earlier, we had an update from a us army general. he said that time was running out for a peaceful solution to the north korea crisis, although he did support diplomatic efforts, doesn't everybody? that was the army's chief of staff and he said the most recent missile tests on the 4th ofjuly show that they are advancing faster than anyone expected. he added north korea is getting more dangerous as the weeks go getting more dangerous as t

of uncertainty what is going to happen with the airport and some of the british carriers like virgin atlantic. we might be looking at the number one alliance between europe and the u.s. there is already an alliance between air force, klm, and delta, and is also an alliance between delta and virgin atlantic. now the plan is to combine those two. this super joint venture if we want to put it that way, could broaden the frequent flyer miles program of those airlines, and they can also coordinate on fares and on schedules, so it's really going to be a better option for passengers remains to be seen, but we might be looking at the biggest alliance, the biggest transatlantic alliance in the world. >> thanks for that and have a great weekend. people in senegal head to the polls on sunday. the president has been in power since 2012, and the head of state has been in germany to talk about creating jobs to stop as many people leaving for europe. >> fishing is their livelihood, but ever fewer senegalese fishermen are able to feed their families. they often trawl illegally for huge numbers of fish and th

in thailand* is born of thirty one percent stake in virgin atlantic. to give it to storm the fifteen in the lucrative trans atlantic flights markets. as well as at london heathrow. europe's busiest international hop. restructuring is also part of the efforts recovery story. after years of labor strife it recently one pilot backing for efficiency measures. and is adding to its feet with a new local subsidiary court june. it'll begin medium range operations this year unknown who flights in twenty eighteen. well the united kingdom's treasury chief philip hammond has said that britain will abide by european union rules for up to three years after it officially leaves the block. in march twenty nineteen. hammond explained this transition period was it necessary to move from this it's status quo today. to a new normal. this transition should add before the next general election which is scheduled for twenty twenty two. take a listen to phil pam. i think what the british public wants to see on the first day after we leave. his business pretty much as usual th

air france announced thursday it is buying 31% of virgin atlantic.hat means that for the first time ever richard branson will give up his majority stake in the airline he founded. this makes them the second -- largest shareholder in the business. in transatlantic travel. the deal comes as air france announced positive earnings for the second quarter thanks to solid demand for air travel. we are seeing a lot of reaction on the markets to the earnings reports that we have seen throughout the week. tech stocks on wall street. down -- barclays reported a loss of 1.4 billion pounds. it shares were down around 1% as well. the euro is rising against the dollar again today. figures show that eurozone economic confidence is at a 10 year high. a short while ago the euro was up three tens of a percent against the dollar. let's look at other business news that we are following. starbucks has closed its biggest deal ever. the coffee giant has bought out chinese partners for $1.3 billion to take full ownership of all china outlets. 2000 storesown across china whic

air france will buy a stake in virgin atlantic which delta is a major investor. n b launched a partnership with naacp. local naacp chapters will work with air b n b to educate residents of the economic benefits. air b n b will share 20% of its earnings from helps he fworts the naacp. and it's the end for the ipod shuffle. apple says it will discontinue its last two music players that can't play songs from his streaming service. they are direct descendants of the original ipod. it can only play music downlo downloaded from physical media. >> end of an era indeed. thank you. >>> still ahead an invention that helps the youngest gain their freedom. >> these home made wheelchairs could be start of moving for their children. how one family turned their devastating news into a mission to help others. stress tested so you can stress less at dinner. it'shop early to save big!l's! and friends & family take an extra 20% off kid's backpacks are just $11.99 junior's denim is $17.59 and fila sneakers are just $23.99! plus you'll get kohl's cash too! this saturday at kohl's. "g

air france—klm is buying almost a third of virgin atlantic, leaving sir richard branson‘s parent companyhe airline he founded. sir richard said he would remain "very much involved" after the deal. germany's transport minister has announced a recall of 22,000 porsche cars to remove what he says is illegal emissions—controlling software. he said that luxury make porsche would bear the cost of the recalls of the affected 3—litre diesel cayenne models. we have had figures through from ba rclays, we have had figures through from barclays, millions of customers around the world, they've seen a jump around the world, they've seen a jump in half—year profits but will have to pay out an extra £700 million to meet compensation claims for mis—selling payment protection insurance, that's ppi. ba rclays shares up barclays shares up over i% on the london markets this morning. lloyds also having to put aside additional money for claims, as well. let's ci’oss money for claims, as well. let's cross over money for claims, as well. let's cross over to asia now. let's go to asia, where coffee giant starbuck

that's right, the suggestion he will cut services out of heathrow, virgin atlantic, they have been increasingnd other places. clearly, the owner of virgin trains, lots of investment in health care, i think it is talk for a foreign audience. he made the comment on a flight audience. he made the comment on a flight from hong kong to melbourne, maybe he would not make those two others. maybe he would. let's move to the next story. i want to ask you a couple of questions that we posed to viewers this morning in light of the record—setting sales set by jay—z for the release of his latest album. we asked, what was the last physical record that they bought? i had a number of responses, felicity said purple rain from prints. carolyn says strips by christina aguilera. a reissue of abbey road. another says they might be giants. mark says it must be 20 years since i bought an lp. calling it an lp as well? oh, dear. what was the last one you bought? in terms of an actual record, i think there was only ever one, when i was very young, billy jones's uptown girl. then straight onto tapes and then cd's.|j jon

results come a day after airfrance-klm announced a new joint venture with delta air lines and virgin atlantic, taking a big stake in the latter >>> the u.s. senate has voted down a revised so-called skinny healthcare bill after three republican senators broke ranks to vote against the legislation. this as the chamber struggles to pass an overhaul of president obama's signature healthcare law. the snew bill would have repeald a medical device tax and employer insurance mandates. >>> u.s. republicans ditched the idea of a border adjustment tax in a move which could simplify the push for an overhaul of the tax system scrapping the plan is set to bring relief to large importers who feared the policy would hurt profits. they will implement simple rate cuts with the ultimate aim of cutting taxes to as low as 15% the new white house communications director, anthony moo sc sc scaramucci has blasted inside staff at the white house, including reince priebus and steve bannon kristen welker has more. >> reporter: tonight, a profanity-laced tirade from the new white house communications director, anthony

joining me by webcam is paul charles — ceo the pc agency and former comms director for virgin atlanticmuch of an upheaval will this be for easyjet? a major move by them. a pre—emptive strike to ensure they can continue to run their business successfully after the perils that they see of hard brexit in two yea rs' they see of hard brexit in two years' time. but they are feeling is the frustration of the uk government thatis the frustration of the uk government that is not able to convince easyjet that is not able to convince easyjet that aviation is at the heart of the eu negotiations. so easyjet needs to do something now to make sure that its business will be as strong as it is today. of course it could be that they have nothing to worry about but they have nothing to worry about but they cannot leave it to chance. how likely is that that they would make this move if it were not for brexit? of brexit wasn't happening they wouldn't be doing this. this is entirely forced by the fact that there is a danger that in two years' time the eu could say, i'm sorry easyj et, time the eu could say

in addition, air france will buy a stake in virgin atlantic of which delta is a major investor. >>> anderizon gets top score for cell phone service. a testing firm ranked the mobile company number one in overall performance, reliability, speed, data and calls. at&t was second, sprint third, t-mobile fourth. >>> hena, dogs are leading more millennials to buy homes? >> reporter: this wasn't too surprising when i heard this. a survey by suntrust mortgage found more than 40% of millennials in the market for a first home said having a dog or wanting a dog influenced their purchase decision. >> interesting. it's not the kids. it's the dogs. >> reporter: it's the dogs. i know. times are changing. there you go. >> that's pretty good. all right, hena daniels with cbsmoneywatch.com, thank you. have a good weekend. >>> 20 minutes now before 6:00. and a backyard barbecue turns into a raging inferno destroying several northern california homes. >> reporter: a legal battle is brewing between raiders fans and the raiders. we'll have the latest coming up. i'll have your complete forecast in just a few

air france/klm is buying a 31% in virgin atlantic from richard branson‘s virgin group.t. it tells us the housing market. it tells us the housing market is slowing and in particular, it is slowing in london. there is a lot of uncertainty as the company said, following the eu referendum last year. also, they are rushed to pursue transactions at the beginning of last year, ahead of a change in stamp duty rates. so comparators don‘t look very good. clearly, the market is slowing. onto the bigger companies like shell. they say they make money even though they don‘t think it‘s going to go anywhere apart from 40— $50. we are forever alone? that's right, shell boss described shell as hurting itself it for the 40s, what it meant by that was shell is assuming they will struggle to get above a level. the saudis are cutting production to push the price higher. they have really struggled to get it above $50 a barrel. the figures from shell we re a barrel. the figures from shell were good but the oil price has risen compared in the year ago but plainly, it‘s not going anywhere fast.

closer to betty: virgin atlantic, will have test flights more than two and a half years after its experimentalane. richard branson told bloomberg he intends to make the first trip into space himself by the middle of next year. he was an early leader in the private space race before the crash of station two, which killed its copilot. bhp's incomingng chairman to create a big shakeup. paul allen has more on this story. shares jump onhp this news. what are they saying? paul: this is a note from the analyst. he is talking about the incoming chairman, ken mackenzie, who expects to undertake a full review of assets and tragic -- and strategies when he takes over. he does not have a mining background, he is from the packaging industry. he is the track -- detached from the mining pressures. he can take a fresh look at the portfolio and is unencumbered by the need to defend the legacy investment decisions. he favors us- seeing a split of the oil mining division. the suggestion that bhp unload its oil asset business, that sounds familiar. also recommended that move. paul: exactly, that is not escape his

also watching this guy, richard branson, selling a majority stake in virgin atlantic, the airline hee carrier will be sold to air france for 3 $60 million. he is blaming great britain's exit from the european union for this move due to the collapse in the value of the pound. the virgin group will retain 20% interest in that company. mick jagger is feeling angst in britain. ♪ ♪ everyone said we were all ripped off ♪ england lost ♪ >> there is a clip from the tune england lost, one of two new song from jagr who says he was rhapsodize about the anxiety and confusion of the times we live in. he wrote the song in april, chose to release them now rather than wait to put them on an album. maria: dagan mcdowell has some issues with that. dagen: the rolling stones fled britain because of the high tax rates in the late 60s early 70s, that is why they recorded it in the south of france where keith richards was living at the time. maybe it is not on about them so they die a quick death. >> tesla, amazing because elon musk has said tesla is overvalued. it is fascinating because a wall street anal

. >> reporter: flom went on to sign a who's who of rock and roll at atlantic records and then virgina take it twisted sister, stone temple pilots, and kid rock to name a few. how do you know when you listen to a song that art involvement has something? >> once in a while you get that tingly feeling. you have to act on that instinct. ♪ we'll never be royals >> reporter: that instinct kicked in when he heard this song, "royals," by a then unknown new zealand teenager named lorde. >> she was already lorde. i mean, she was born to do this. >> reporter: but there was a california girl he almost missed. katy perry, you almost passed on her, didn't you? >> she walked in, and immediately i thought this girl's a star. and then i played it for my senior staff. most of them were like, this is horrible. and i was listening to katy on my headphones, and i was like, oh, my god, i'm an idiot. i think i totally screwed this up. like she's brilliant. >> reporter: flom's intuition has made him a trendsetter. >> they said i was robbing a dice game, which was a joke. you know. >> reporter: his podcast "