what is next for vodafone? ultimately, vodafone has to look at its position in the uk.s number three. british company and it needs to be number one, it is numberthree. it wa nts to number one, it is numberthree. it wants to turn that around two leading position and it needs to focus on how it will do that by thinking what is next. things like five g, for example. thank you very much for your time. left and look at what is going on in business. we have michael gove talking to farmers today. he seems to be coming out as quite a green environment secretary. he is using a speech in surrey to save farmers will continue to receive funding after the uk leaves the eu, but only if they agree to protect the environment and rural life. another story on the website is all about the uk skies. it is potentially the busiest day for flying in the uk. we want you to get in touch and let us know what he would do to improve airport travel. that is your report? but my name is not on at! sad! you're watching business live. our top story — the man in charge of goldman sachs' european operati

telecoms largely on the back of strength from vodafone strong numbers seen there. still less than a half percent autos are leading the weakness down 0.72% let's look at 4x it's such an important topic given the central bank focus we saw the euro surge to a two-year high against the dollar picking up more gains against the dollar today cable also pushing higher. we have seen not quite piercing the 130 mark, which is keenly watched by investors let's look at how some individual stocks are trading today and what's driving markets. vodafone was partly responsible for driving telecoms up towards the top of the sector this morning. 1.17 on the back of strong q2 results. reported better than expected revenue growth of 2.2% in the first quarter. it says that was driven by robust performance in italy and spain and accelerating demand growth in turkey there hasn't been a lot of growth in the uk where vodafone says the market is still recovering let's look at philips lighting, which has beaten expectations in the second quarter with core earnings better margins making up for

vodafone not exactly rolling away. the euro.en talking about it for the past couple hours. mario draghi advised of the ecb would discuss the possibility of tapering in the autumn. when does autumn begin? the small matter of president trump's business transactions coming under investigation in the u.s. may also play a part in the move. let's get the highlights in the ecb statement. >> a substantial degree of monetary accommodations is deleted for underlying inflation pressures to gradually build up in support headline and inflation developments. also unanimous medication in no change to the guidance. also we are unanimous in setting no precise date for when to discuss changes. we only have to wait for wages and prices to follow course to our objective, to move towards our objective. the last thing the governing council may want is actually an unwanted tightening of the financing conditions that either slows down this process or may even jeopardize it. there, theo draghi head of the central bank committee. is with us. exchange, so

let's jump to vodafone. they had a good day today.en the fact it's getting cheaper to sell bits of data? you are right, and it's all around data packages. and the requirement of the global population for it's need for data and when you get up to the sorts of hundreds of millions of customers that vodafone has, even on a low margin, that is going to start to pay for itself. it's one thorne in the side at the moment is india, for exactly that reason, it's had to have a large write—off of over 3 billion and had to get into bed with an indian competitor to offset a new company out in india which has tried to undercut vodafone. it's had a write—off there. on the other hand, in other parts of the world, not necessarily the uk, but in terms of some of asia and africa, it's had an extremely strong growth in terms of its revenues for this particular period and it's always worth bearing in mind for vodafone that due to the cash general rative nature of the business this is a company which continues to be able to pay dividends. the stock is curr

rules for a new auction of mobile airwaves, imposing new restrictions on the dominance of ee and vodafonelogy. 0fcom said it would introduce a 37% cap on the total share of usable radio spectrum any operator can control.the decision means ee, which currently has 45% of the airwaves, and vodafone, on 28%, will face restrictions on their bids for a chunk of spectrum. sales at marks and spencer's clothing and home division fell at a slower rate than before in the first three months of the year. however, like—for—like food sales dipped by 0.1%, which was worse than expected. one of the key issues facing the government as it negotiates brexit is what happens to the uk's agricultural sector. the bbc‘s danielle hewson is at the great yorkshire show, where farmers put their best animals and produce on display. she's been speaking to them about what they want from the negotiations. food and farming is the uk's biggest manufacturing sector and this the show, the industry's biggest shop window. over 130,000 people are expected to come here over the next three days. to take a look at what is being pr

vodafone has surprised the market with a good set of half—year results, saying revenues are up 2.2%,ow this year by four to 8%, and it may be able to increase its dividend payout to shareholders. china has agreed to allow imports of rice from the us for the first time. china opened its rice market in 2001, but imports have been held up by a lack of rules on pests and diseases. the deal is almost the only positive result of trade talks between the two countries that broke up on thursday. there's a wave of mergers going on in payment processing industry. these are the people that make sure the money gets from your bank account to where you want it to be. two weeks ago, worldpay agreed to be bought by american giant vantiv for £9 billion. today, paysafe sharesjumped 9%, after a group of private equity firms offered to pay £2.9 billion for it. and paysafe itself said it was offering $470 million to buy the us company merchants choice. let's have a look at the markets, the ftse100 in let's have a look at the markets, the ftse 100 in the green let's have a look at the markets, the ftse100

. >> sticking with europe, we have some big earnings movers that's vodafone trading higher the company quarter revenue growth vodafone pointing to strong demand in italy, spain and turkey the company expects its core earnings to rise between 4% and 8% this year another stock is hermes, seeing sales growth slowing in the second quarter but results were in line with forecasts the french luxury goodsmaker says demand remains good for shoes and bags, while the silk business continues to rebound. my story for next week is about how the resilience in the euro, the impact that will have on some of europe's biggest exporters, luxury, retail and hermes is part of that list. >> is it hermes or hermes? >> i think hermes, but you're the classy one here. >> i look forward to the story >>> philips lighting, second quarter earnings improved. philips expects to return to sales growth this year time to reveal the mystery chart. do you know what it is the stock is down 13% this week. it went public, the worst performing public in 2017 in the food delivery space. >> so it's blue apron. >> is blue apron g

james, let's start off by talking about the telecoms watchdog clamping down on eee and vodafone.ers are saying, well, actually, you don't give us enough market shares of cannot afford to invest. we have to have more infrastructure, so 0fcom is going to have to find a very careful way through this minefield. let's get on to pearson. shares initially rose when they said they we re initially rose when they said they were selling their stake but by the end of the day, it looked like they we re end of the day, it looked like they were going into negative territory, why is that? we started off by getting the news they were going to getting the news they were going to get about $1 billion, but of course, they are giving up about £60 million of profit so it is not a fabulous deal, it is a better deal because they are making their business cleaner and more obvious and that will do well in the long run, but it is not a one—way ticket by any means in terms of what they get relative to what they give away. finally, marks & spencer, as lower rate of sales for clothing. food did not do too wel

instead they negotiate with existing companies, such as vodafone and telefonica.we were mentioning earlier in the introduction to you that giffgaff is a virtual mobile operator, you effectively piggyback on 02's network. how does that work, and does it actually work for the consumers involved ? does it actually work for the consumers involved? it works by us having a contract with o2, and we buy our share of the network. that is not unusual, mobile virtual operators have been in existence in this country to nearly 20 years. instead of us having to worry about building a network and running it, it allows us to focus on differentiated propositions, in our case, what makes us very different apart from the fact we don't offer contracts and operate only online, we rely on our members to actually run large parts of our business through us through our online forum. sounds a little bit like a 21st—ce ntu ry sounds a little bit like a 21st—century of the old corporative model. a little bit like that, yes. most of our member services are done by our members, in an online fo

guest: the vodafone merger is focused on pushing converged services, the bundle.pushing mobile and tv. great mobileg a product. we are focused on an individual rather than a household. so far, that is working for us. caroline: why not? it seems to have been the golden goose for a lot of the other players in europe. why does it not make financial sense? guest: the consumer does not need it. it only matters if they discount a part of the service. the individual is more connected to the mobile device. whereas the household is connected to the tv and fixed broadband. two verythere are different purchasing behaviors. we focus on the individual and pushing mobile technology. we believe we have the best mobile technologies to push. we have not invested in our fixed network in the netherlands and we are just pushing mobile. caroline: you are interested in security, big theme. as to why you would want your customers to use 4g. is it security prominent in your customer base's minds? guest: we are looking increasingly to help them develop products around securities. caroline

vodafone and the life in europe, trying to get in and make sure they own the contents. to our mobiles. are we watching it on social media that we happen to access via our pohones. frederic: what really matters is content. people love football, as an example, or soccer. people love that. they have a passion for it. they do not really care where they watch it. they want the content. we have seen price escalated. i've seen what happened in france where -- they lost the rights versus fsr, which is a mobile player. but now, they got the content. guess what? people go where the content is. frederic: the winner here is the sports company. the media.s it is all about products. eventually, media is all about the content. and that is why we've seen the likes of netflix or amazon start producing their own content, which is not something you can do so easily in sports. right now, we start to see this with technology companies investing in e-sport, to create their own leagues. caroline: it has been wonderful having you here. frederic court, announcing the new fund. that does it for

when they first made the for ray in foray into europe, we saw vodafone, vt and working now closely with those telcos. that's one area where you can manage costs and rely on your partners to raise the profile of the company. >> all right paolo, great getting your insights on this company that's it for "street signs" today. i'm steve sedgwick up next is "worldwide exchange." we'll be back on european programming with squawk box europe tomorrow morning. republicans pull the plug on the healthcare bill. we're live in washington with the fallout. >>> global markets immediately reacting to the news the u.s. dollar dropping to multi-month lows.trading day se. >>> and netflix takes the crown, we'll tell you what's behind that big move coming up. it's tuesday, july 18, 2017, "worldwide exchange" is coming up right now ♪

vodafone, not a lot of standout trends yet as far as winners and losers.e the bond trading general. -- trade in general. interesting to see the individual stories in today's session and the big thread -- story is going to be the meeting that starts today and ends tomorrow. manus: absolutely. what will the fed have to say? that is the question for markets. they have a two-day meeting that gets underway this afternoon. aile the market is pricing in 0% chance of a hike next month, the investors are watching out for the announcement to the start of the balance sheet runoff plan. numbered intelligence reckoned the fed will signal the unwind would get underway. peter chadwell is ahead of european rates. do agree, no move today? that is an autumnal surprise. but should be? the fed has been at pains to communicate this is clearly to the markets as possible. if there was something in the statement saying they are on track to start reducing the balance sheet in the fall, i don't see a problem with that read it would help transparency, it would help market pricing an

rules for a new auction of mobile airwaves, imposing new restrictions on the dominance of ee and vodafoneas a5% of the airwaves. sales at marks and spencer's clothing and home division fell at a slower rate than before in the first three months of the year. however, like—for—like food sales dipped by 0.1%, which was worse than expected. are the jobs of uber drivers or the riders who deliver takeaways for deliveroo flexible or are they insecure? by by the independent workers or unprotected, part of the so—called gig economy, and the on demand revolution? a report today says that these workers should have more rights like maternity pay and sick pay, minimum wage and national insurance. joining us now is sam james, managing director of the uk domestic cleaning app. your company would be considered part of the gig economy. what would paying national insurance, for example, maternity pay, doody business? well, ithink at the moment it is difficult to give a full definition of what it is going to do because we didn't have clear picture of what will happen. however, we already pay £9.a0 an hourin

vodafone has surprised the market with a good set of half—year results, saying revenues are up 2.2% thankse able to increase its dividend payout to shareholders. audi is recalling 850,000 diesel cars in europe and other markets, for a free software upgrade. it says the voluntary upgrade will improve emissions behaviour in real driving conditions beyond existing legal requirements. there's a wave of mergers going on in payment processing industry — these are the people that make sure the money gets from your bank account to where you want it to be. two weeks ago, worldpay agreed to be bought by american giant vantiv for £9 billion. today, paysafe sharesjumped 9% after a group of private equity firms offered to pay £2.9 billion for it. and, paysafe itself said it was offering $470 million to buy the us company merchants choice. the markets, the ftse slightly down. pa rt le the markets, the ftse slightly down. part le due to airline stocks. low after the easyjet chief executive said pricing might be a problem going forward this year. that's it from me. the state rooms of buckingham palace are

vo vodafone rising and help by strength in spain, italy and turkey that stock up just fractionally onay and then there is paysafe. they made a $3.7 billion bid for the uk-based payment processing company. and that stock is higher overall, a very tough day for european equities. carl >> all right seema, thank you for that, seema mody let's get back to hq for a news update happy friday >>> happy friday thanks so much here's what's happening at this hour, everybody. secretary of state rex tillerson is meeting with qatar's foreign minister at the state department today. he says the u.s. is satisfied with the efforts to implement an agreement aimed at combatting terror financing which was signed last week he urged other arab states to lift a land blockade on the country of qatar >>> transgender people in north carolina are still prevented from using rest rooms matching their jengender identity under new bathroom bill. this is according to a new lawsuit which was filed today and that suit alleges the new law violates equal protection rights a make shift memorial has been set up outside the

rules for a new auction of mobile airwaves, imposing new restrictions on the dominance of ee and vodafone of the airwaves. sales at marks and spencer's clothing and home division fell at a slower rate than before in the first three months of the year. however, like—for—like food sales dipped by 0.1% — which was worse than expected. shares in snap, the owner of snapchat, fell below their offer price for the first time yesterday. shares have been fairly volatile since the company made its debut. they are currently down 5% and even those who backed the company have downgraded their share... what is going on? it is down quite considerably. it is quite considerable and part of the reason is we are in the midst of earnings season so in the next few weeks we are going to see that snap is going to be recording earnings. the outlook is not that great for the last quarter. that coupled with the fa ct last quarter. that coupled with the fact that early investors and executives who have this shows they weren't allowed to cell before, they are going to be allowed to sell those shares so there is a lot

vodafone has surprised the market with a good set of half—year results saying revenues are up thanks,000 diesel cars in europe and other markets for a free softwa re europe and other markets for a free software upgrade. it will improve emissions behaviour in real driving conditions beyond existing legal requirements. and there's a wave of mergers going on in the payment processing industry, these are the types of people that make sure money gets from your bank account to where you want it to be, online transactions, for example. two weeks ago, worldpay agreed to be bought by an american giant called vantiv for £9 billion. today, peasafe shares jumped 9% after a group of private equity firms offered to pay £2. 9 billion for it. paysafe it sadie babes it was offering 470 million dollars to buy the us company merchants choice. thank you very much. we are expecting a press conference from the police to update us on the search for the missing raf serviceman corrie mckeague. they've been searching a landfill site for the airman for several weeks. it emerged he may have ended in a bin lorry

it's just a pipe what each of those distributors wants now, whether it's deutsche tell come or vodafone's going to happen here too the reason that randall did his deal they need to dekhod advertise the pipe and the only way to decommoditize that pipe is with great ip so the when is when deutsche telekom or vodafone needs something special they can come to us and say what do you have we can say we have the olympics, we have discovery, we have oprah and i think you know, we have all these sports in europe that is our bet. and that's why we're long ip and you know in the long run, content i think is going to continue to win. and hopefully we'll have the right ip >> you know, not for nothing, there was a great white the size of a station wagon off the coast of north carolina a couple of days ago so when is shark week again? >> it's on sunday night. >> how can you not make that appointment -- >> it is a point -- >> it is okay it is >> becky has the shark >> there's the shark >> do you know we're cousins not by blood >> actually? >> we related. >> -- wife pam and his wife pillar -- >> there y

taylor: vodafone topped estimates with its first-quarter revenue growth.rganic service revenue rose by 2.2%. the ceo says the company saw a good start to the year in europe, where commercial momentum remains robust, while growth accelerated across africa and the asia-pacific. exxon mobil says it is challenging a $2 million fine for egregious violations of sanctions against russian. it says the oil company broke sanctions by signing deals with the head of rosneft. the violations are said to have occurred in may 2014 when now secretary of state rex tillerson was ceo. microsoft's turnaround plan got back on track. profit in the fiscal fourth quarter exceeded analyst estimates and adjusted sales rose 9%. that is your bloomberg business flash. francine: thank you so much. nth dollar is at an 11-mo low. the special counsel investigating possible ties to russia is said to be looking into the president's business transactions. that is according to a person to know your with the probe. they say investigators are examining russian purchases of in trump buildings bui

vodafone has surprised the market with a good set of half—year results, saying revenues are up 2.2%,olders. china has agreed to allow imports of rice from the us for the first time. china opened its rice market in 2001, but imports have been held up by a lack of rules on pests and diseases. the deal is almost the only positive result of trade talks between the two countries that broke up on thursday. there's a wave of mergers going on in payment processing industry. these are the people that make sure the money gets from your bank account to where you want it to be. two weeks ago, worldpay agreed to be bought by american giant vantiv for £9 billion. today, paysafe sharesjumped 9%, after a group of private equity firms offered to pay £2.9 billion for it. and paysafe itself said it was offering $470 million to buy the us company merchants choice. a quick look at the markets, all of them down. the european market is down quite a bit. the pound against the euro, if you are going on holiday, the pound is a little weaker. we had some comments from european central bank yesterday which seem

verizon took a boatload of debt with the vodafone deal, they're working through. be better to hook up with comcast. ashley: don't be grumpy, apparently. liz: i should be happy after prime day. stuart: liz never holds back, is that clear? never holds back. lr-: forgive me. stuart: we'll take a break and then to wall street where you'll see a rally. you're going to like it. back in a moment. >> it's beginning right now the senate holding a confirmation hearing of christopher raye as next fbi director. you're@tájjt to see a rally from the get-go. three, two, one, it's 9:30, we're off. 78 points, 80, 82 points. ashley: 90. stuart: it's a rally, modest-- that's not modest at all. liz: it's a good rally. stuart: thank you. we have 26 of the dow 30 in the green. that means they're u(. we're almost 90 points, 21,500 we just hit it and we're what, about 50 points away from the all-time high. could have an intraday high today. >> the price of oil is way up this morning. $1 higher and the saudis will cut oil to the lowest levels this year. treasury 2.31%, that is down from y