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tv   Bloomberg Markets European Close  Bloomberg  September 19, 2016 11:00am-12:01pm EDT

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close on "bloomberg markets." mark: we will take you from san francisco to london, covering stories out of new york and germany in the next hour. here's is what we're watching today. vonnie: moments away from interviews with two to the executives. cory johnson will be live with mark hurd and then an interview with ceo jean-sebastian jacques on commodity prices. let's get to mark barton for a check on the markets. not even 30 minutes from the european close. mark: literally 29.5 minutes. for risk has returned across markets today. there is were equity board after last week's biggest weekly loss for the stoxx 600 in three months. minerse is up driven by
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and oil, news. portugal is up. these are all of the currencies rising against the dollar ahead of the fed meeting. we're seeing bond yields rising, periphery bond yields declining. to talk about today. look at the decline and shares of mighty today. 28% lower. this is the biggest fall on record for the u.k. facilities services. it said first-half revenue and operating profit will be materially below prior views. it is experiencing significant economic pressures including lower u.k. growth, changes to labor legislation, and further public sector budget restraint. cut its earnings estimate and to 270 fromrgets three pounds. it said the statement showed significant uncertainty in the
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period around brexit phot. let's talk glencore. credit suisse raising the rating to outperform from neutral. the price target has been raised to 2.20 from 2.10, rising coal prices are giving greater confidence in deleveraging credit suisse says and the free crash -- cash generated of glencore into 2017. when gores the third-best this year.n the ftse is soared 110% after anglo ipoes dropped 64% since the in 2011. this is a wonderful chart. european equity investors, one of the best ways to hedge the risk of higher bond yields, which we have been seeing in the last couple of weeks, is by buying banking stocks at the expense of other shares deemed sensitive to the economic cycle. this is according to strategist
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j.p. morgan chase and co.. a wonderful chart you can find on your bloomberg. 90 minutes io the trading day in u.s. that's get over to the market does. julie: stocks are giving up a little bit of their gains as we get more deeply into the session. before last check them all three major averages were up at least two thirds of 1%, now the nasdaq only up one quarter of 1%, paring its games. apple has slipped into the red. intel is a stock that is down to my dragging on the overall averages. telecoms within the s&p 500, the only major group in the red at the moment. crude oil prices also closely linked who stocks today. -- link to what is going on the stock. it is a bit higher than it was him a but stocks are not higher. oil is up 2% as we see the dollar make it flows of the session. oil stocks continue to hang on to their gains. strongerne of the
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groups within the s&p 500. if you look at the dollar and how it is trading going into the central bank activity this week, down about one third of 1%. made it flows in the session just a little while ago. going to send it back to you. vonnie: thank you. let's get a check on the first world news. courtney has more. thetney: there is a report police have connected the new york city bombing with one that took place on the jersey shore. they want to question the same man for both. all of this according to the associated press. the man described as a person of interest is a 28 euros native of afghanistan who is now a u.s. citizen. more than two dozen people were wounded in the new york last on saturday night host of a pipe bomb also exploded saturday. traince exploded at the station at elizabeth, new jersey, as the bomb squad robot tried to disarm it.
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at the agents raided a nearby apartment linked to rahami. new york mayor build a blasio will hold a press conference on these developments at 12:30 and we will have live coverage. president obama will be speaking at the bottom of the hour. we will take that life as well. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. vonnie: thank you. kicked off yesterday short pacing the latest innovations. showingd off yesterday for latest innovations. thank you. hurd joins us today at the oracle world conference. good to see you. a big show. >> over 50,000 people. >> what do they do here?
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>> last that we started with all of our announcements, really, for the year. a keynote and talks about all of the things we are releasing, and the kicks it off. from there there is a in-depth session. i will do a session focused on customers and customer stories -- users?e are real >> certainly, no fake ones. real customers with real use cases. it will range from midmarket users? >>customers to the largest world.es in the >> talk about the software is different than it has been. you talk about the move world. >> to the cloud. talk about what that means from a customer perspective. is there a different kind of customer you are reaching with the cloud software? >> great question. we get af cloud, chance to go into what you might traditionally think of the midmarket were small and medium
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business that we never would have had the opportunity to go into back in the traditional on premise world. you have these companies now that have the opportunity to get the best and most advanced technology in the world with no i.t. staff, do not need hardware or software on premise, do not need a data center. some of the companies you see around us here that viewers cannot see, pandora, lyft, etc., that started with the same technologies most of the sophisticated companies, straight out of the cloud. >> you talked about the structure, having her own cloud. that puts in competition with the ball like microsoft, google, amazon. what do offer that puts you head-to-head with those guys? >> our strategy for the last several years has been to develop a suite of capabilities. starting at the application layer am a sas a supplement to buy a platform. platform is everything from a database to offering tools,
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an app or not infrastructure. we are highlighting our infrastructure capabilities. for us, that means better performance, better security than anybody on the planet. >> what does it mean for margin? >> margins are opaque. what does it mean that oracle has this joy of software margins for so long? >> the major supplier to our cloud is ourselves. we really have a whole set of capabilities that range from processing capabilities, systems, so our margins we believe in infrastructure are just as good as they are cross the rest -- >> that would be one place where you would expect to but it is -- >> a little bit of the systems,n cloud is you have to invest before you get revenue. if you went back even two years, our margins and what we call our business, we are at 39% two years ago, we predicted they
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would start to move toward 80%. in the last quarter, we were at 62%. the reason they were 39%, we invested in a lot of data centers up front. like the hotel business. you build a hotel before you can rent a room. similar in the cloud business. as you scale, margins go up. >> consistent for on prem and cloud. other companies have had big adjustments. it has been bumpy. just closed,ch we our cloud revenue plus our license business together group 16%. that is the way to look at it, the accommodation of the two together. >> what is it mean for magnets long-term? -- maintenance long-term? haveloud business tends to less maintenance. i wonder what that means as you look out to the future of oracle. >> many of our customers, if they have a support contracted
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and said, i'm going to take -- let's use an application as an example -- i'm not going to use that in the cloud. a couple of things would happen. we are more for the customer. we are providing hardware, providing all of the infrastructure, the data center, the staff. our support revenue would go up. it would go higher because of the additional services we are doing for the customer and the margins would be reflected in that sas pass margin line. rennie works as salesforce, suggested you were buying growth with acquisition. you have done a bunch of acquisitions. salesforce has done a few, too. how do you look at making a decision? >> we do both. rmb is in excess of $5 billion. thespending isn't always
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best indication of deals. what you've seen is the yield is so exciting about the number of products. we have written all of our software over the last seven day years and it is all, out of our r&d. we don't build everything. never pretty good mark it -- mapping, then supplement it -- we have a pretty good mapping, then supplement and. >> in a world where you have other copies getting 10 for one voting preferences or companies buying companies run by because and of your ceo, yeldon a laudable thing where larry stepped away and said i'm not -- a lothold my share more money. how do you make that kind of decision? the middle of that is probably where i will it end it. we've cleared all of the regulatory hurdles except the u.s. once we do that, we will begin -- >> all right.
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do you think there are a lot more deals to be done for oracle in terms of acquisitions? >> we go through a filter with every acquisition. does it make strategic sense? does it make financial sense to us? all of those filters. i never get into any prognostication on m&a opportunities other than our history is probably the best predictor of our future. >> mark hurd, thank you. back to you. vonnie: thank you. tune in tomorrow at 2:30 new york times, 7:30 london for cory's other conversation. mark: rio tinto's jean-sebastian jacques. this is "bloomberg." ♪
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mark: live from london, i am mark arden. we are 16 minutes away. vonnie: from new york, watching the close. time for a check on the commodity markets. oil and gold a little higher on the yield. the big gainer in 2016 has been iron ore, which is valued really 30% in production stockpiles. joining us now is jonathan ferro and rio tinto's jean-sebastian jacques. isvery pleased to say js here in new york. welcome to the program. let's begin with the country usually with a negative spin, china. it means a great guilt to the industry of mining. -- a great deal to the industry of mining. >> good morning.
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china is very important for us for the mining industry. it is around 50%. rio tinto is 60%. we do spend a lot of time in china. i was there two weeks ago for the b20 auction. it is fair to say on the back of the -- customers, partners, suppliers. aware,becoming much more cautiously optimistic in relation to china. examples, what is report for us is in the context of iron ore, copper, the construction market in china. one of the metrics we look at is .he rate of housing shows tear one enter to have dropped -- tier one and tier two have dropped.
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what we regard as healthy volume of stock. if i look at these metrics or look as well at the way the chinese are looking at the not about a it is gdp. when you talk to chinese officials, they talk about energy consumption. they talk about the railway capacity position. they talk about exports. when you look at those four or five kilometers they keep on looking at, they're all moving slowly but surely in the right territory. if i look at it, stand back, the drop we have experienced in the last two or three years in china, seems to plateau and as i said, we're becoming more and more cautiously optimistic. >> someone say that is, sitting on the fence. >> no, no, no, it is moving in the right direction. you asked me the question a couple of months ago, where i
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was slightly concerned. as i said, if you remember well, i said in these current market environments, which is very uncertain, we have to be very cautious and conservative in the way we run our business. what i am saying your is we can see in inflation point and we're going to make the most of it. >> let's talk about prices. i offered up the opportunity to mr. mckenzie who got out a crystal ball until they what he thought was going to happen. your cautiously optimistic view of china. will we see that show up in things like copper and iron ore in the medium to short term? >> once again, we need to stand back and remember something that may surprise you, but winter is coming in china. during the winter, the construction reduces in terms of activity in a big way. although it is moving in the right direction, and the short term, you would expect -- to come and therefore, price would remain in this environment. medium and long term, yes, we can see price recover.
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it will vary from one community to the other. we believe copper will be the first to come out of the twilight zone. that in the short term, clearly -- individuallk about assets and strip them down from copper to iron ore and coal. the strategy for many has been opec likes strategy to the world of iron ore, which is pop, pop, pop. forget about the pricing keep market share. give the minor a dollar and that will dig you a whole. how we learn the lessons of the last five to 10 minutes -- years and if that is changed for you? >> i can't talk about the industry per se, but i can talk about rio tinto. today, it isf about the value before volume. if you stand back, and the last 10 years when china started to pick up, material was strong, including iron or.
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is what you're referring to. at this point in time when , thed is slowing down demand will not be as strong as it used to be two or three years ago, we're moving to a different side of the industry. we're talking about the optimization. how can we extract impractical terms more cash -- in practical terms more cash? if you look at iron ore, copper, so forth, we're $50 billion of investor capital at this point in time. if we can improve productivity by 1%, the numbers are mind blowing. in the next phase, the market will not -- in terms of volume. when you $50 billion of investment base, we can do a lot of things. that is what we're working on at this point in time. >> let's talk about here in the u.s., an important market for you. lookder what the miners
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like in 10 to 15 minutes. pivoting toward natural gas, what is the future for the mining industry? is it a copper business? is a positive market, not just -- remember, rio tinto is a 60 billion market cap company. base --argest customer sorry, i should stop. 18% to 20% of shareholders are based in the u.s. aluminum, soper, on and so forth. looking forward, the u.s. will remain very important. in terms of volume, but copper. as you -- in aluminum, but also copper. we have a project we're looking at at this point called
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resolution in arizona. scale, when the mine is up and running, $60 billion the benefits for the u.s. talking about 3000 jobs. more important, i don't know if you know, today the was could be self-sufficient in copper but it is not. >> because it doesn't have the smelting capacity? >> because it doesn't have the smelting capacity. we send a lot of copper to china and mexico and other countries, then bring it back into the u.s. -- which is slightly shocking because been used to be totally self-sufficient. it would be better for the u.s. to buy the copper in the u.s. than bad from china or japan. >> rio tinto under js, difference, cut, cut, but the commodity rout. what is your message to your employees right now am a the customer base in the shoulders, have we moved on from that?
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>> as i said, it is about productivity. and only the bottom line, but targeting the top line as well. value to extract more from revenue. inre doing lots of work order to extract every dollar we can from the material we extract from the ground. as i said, it is about protein divot he, generating more cash flow and i really believe even if the market conditions are not great, remain in the same state for a few years, we can extract much more for shareholders -- >> jean-sebastian jacques, great to have you with us. the ceo of rio tinto. mark: thank you. stay with commodities. at 1:45 new york time, 6:45 in london, we will be speaking to the president of barrick gold. the european close is literally seven minutes away. this is "bloomberg." ♪
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instead, let's go to barack obama. vonnie: we will go to him life. pres. obama: i've just been briefed again by the fbi director comey. i've also had a chance to speak with governors cuomo and kristi as well as mayor to blasio -- christie as well as mayor de blasio. a bomb has gone off, which could marines andure the spectators there for a raise. the bombing in new york in chelsea injured more than two dozen people. we are extremely fortunate and grateful that nobody was killed. our prayers go out to all of those who have been injured. we want to wish them a speedy recovery. allpecially want to commend the outstanding police and first esponders in both new york city and new jersey for their extraordinary professionalism and their quick response, which surely prevented even more people from being hurt and
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insured that people got assistance quickly. the investigation is moving rapidly, as is my practice, i will leave it to the fbi law enforcement to provide details. i think everybody is aware this point there is a person of interest who is the focus of the investigation. and the fbi can give you further details in terms of how that is proceeding. i told governors cuomo and blasio, and mayor de they will continue to have all federal support as they move ahead with their investigations in tracking down every lead and working to keep the people of this city and of this region safe. law enforcement is asking for the help of the community. so everybody in this region, i want them -- i want to repeat what we have said before. if you see something suspicious,
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then you need to say something. contact law-enforcement. in the meantime, i would ask the press try to refrain from getting out ahead of the investigation. withextraordinarily happy the cooperation that has been taken place between the fbi and state and local law enforcement officials. they are moving smartly on the semester nation. it does not help if false reports were incomplete formation is out there. so try, as much as possible, stick to what our investigators say because they actually know what they're talking about. meanwhile, i know that the united nations meeting here every year already creates an additional workload for new york , but given the u.n. meetings, we also have are particularly high level of resources here to help as needed. we're going to make sure that everybody's working together
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seamlessly as one team to get to the bottom of what happened, defined find is responsible, to make sure justice is done. meanwhile, while all of this is going on in new york and new jersey, we are also focused on the stabbing attack at the shopping mall in minnesota. at this point, we see no connection between that incident and what happened here in new york and new jersey. our attention there is on the people who were injured. again, we are very grateful no one lost their life. thanks to the quick action of a brave off-duty police officer him of the suspect was killed and we avoided more people being hurt. i had a chance also to speak with governor dayton this morning. i assured him that we will provide all the assistance that he needs in the investigation. the fbi is investigating the minnesota incident as a potential act of terrorism. we will direct the full resources of the federal government to make sure that the forwardation goes
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aggressively. finally, i want to take this opportunity to reassure to people in the city, this regiond aggressively. , and americans across our country that our counterterrorism and law enforcement professionals at every level -- federal, state, and local -- are working together around the clock to prevent attacks and to keep us safe. they're the best of the best. over the years they have boarded many plots and saved many lives. many plot and save many lives. we will continue to lead the global coalition, which is instigating a lot of people over the internet, isis, to carry out attacks. we're going to continue to go after them. we will take out their leaders. we will take out their infrastructure. they're continuing to lose ground in iraq and in syria.
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later today, i will be meeting with prime minister abadi. as we take away more of their territory, it exposes isil as the failed cause that it is an house to undermine their ideology, which over time, will make it harder for them to recruit and inspire people to violence. we will continue to enlist tech companies and community and religious leaders to push back against online extremist content and all messages of hate. it -- at moments like this, it is important to remember what terrorists and violent extremists are trying to do. they are trying to hurt innocent people, but they also want to inspire fear in all of us. , todisrupt the way we live undermine our values. so even as we have to be vigilant and aggressive, both in preventing senseless acts of violence, but also making sure
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we find those who carry out such acts and bring them to justice, we all have a role to play as citizens in making sure we don't succumb to that fear. and there is no betterand ther'f that than the people of new york and new jersey. when i was speaking to governor cuomo and governor christie and mayor de blasio, one points they all need is -- made his folks around here don't get scared. they are tough. they are resilient. they go about their business every single day. give toughness and resoluteness and recognition that neither individual nor organizations like isis can ultimately undermine our way of life. that's the kind of strength that makes me so proud to be an
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american and that's the kind of strength that is going to be critical not just in the days to come but in the years to come. by showing those who want to do us harm that they will never beat us. that we will not and never will give in to fear. that's going to be the most important ingredient. you will be receiving ongoing briefings from the fbi and local law enforcement in terms of the details of the investigation. there many reports that the person of interest has been taken into custody in new jersey. he was arrested after shooting police in new jersey.
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that was president obama speaking in new york. he has been monitoring the situation closely. we will be keeping an eye on it all day as well. mark: let's get to the markets. monday session is over. basic resources. oil and gas up. this is the biggest increase since september. last week we had the biggest weekly decline in three months. the longest losing stretch since july the eighth. 2.5 alienquities dollars in net outflows. that marks a record 32nd straight week of redemption according to bank of america merrill lynch. the unloved part of the global stock market.
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you about some data we had today in the u.k. average prices increased on the month in september. the markets showed a broadly positive picture overall. london house prices gaining 1.9%. the seasonal summer lull ended. have a look at stirling today rebounded against the dollar. position -- bearish positions on pound future. the boe sat on its hands last week. was the boenificant said if the economy continues to pan out as it expected in august we will probably see interest rate reduction.
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automakers last week had one of their biggest weekly slumps in five months. it's the third worst performing sector this year. ubs says those valuations are attractive. one of the best-performing sectors today. the yen.'m looking at we are seeing strength for the yen today. we will see where it gets after wednesday. futures continuing to rise. $44 a barrel. point two-year yield. that spread is above 92 basis points right now. let's take a look at the broader u.s. markets.
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byor averages are higher .5%. the nasdaq is the laggards today. let's go to abigail doolittle. all of the recent volatility we have seen for the last. it had its best week july. the week before the worst week since february. up .7%.aq had been very close to those record highs. up .1%.utes ago it was seeing some intraday volatility. the standout is therapeutics. the best stock by far on the nasdaq. the muscular dystrophy drug received accelerated approval from the fda.
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the patients who need this drug are probably happy. there is a 33% bearish shortage. many of those investors are probably pretty unhappy right now. week for global central banks. the federal reserve out with their latest policy decisions global central banks may be taking on too much of the effort to support the local economy. recognized that an excessive burden has been placed on central banks. long used to playing a complementary or critical role in policy mostly behind-the-scenes. such a dominant and visible role they have become the only game in town. is chief european economist. are we reaching an inflection
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point when it comes to how much toe central banks can do lift these economies that are lagging? >> we must be getting close to some sort of pivot or inflection point. governments have been trying to repair public finances. there is now a bit of a shift in ideology taking place. there is a growing movement for governments to do more to help central banks. it is getting towards its limits. mark: do investors have faith that the baton will be picked up by government? whether there is an inclination the fed is going to tighten rates. will we see a selloff in markets? i don't think investors are
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particularly convinced we are going to see substantial support from fiscal the. we are going to see continued emphasis on the central bank. we are still expecting more action to come from the ecb and the bank of england later on this year. how interdependent are the central banks? how much do they have to watch each other? >> to some extent. most of them have their own mandates and inflation target. they are primarily focused on those. looking at the impact of their actions on exchange rates. i expect to see cutting interest rates further in november.
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spanning asset purchases more quickly in december. vonnie: does this trend continue and is it desired? >> i missed the beginning of that. mark: is the curve steepening desire in the bond market intended? most central banks are trying to keep long-term interest rate very low. that's why we are seeing continued asset purchases. of curve steepening perhaps shows greater optimism about growth further ahead. central banks will fight that until we see much more convincing signs of a global recovery. ark: thanks for joining us massive week for the boj and the central banks. tomorrow we are going to be carrying testimony from the wells fargo chief economist. focus on the banks misconduct in opening more than 2 million unauthorized accounts.
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this is bloomberg. ♪
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mark: liverom london and new york, i'm mark barton. this is the european close on bloomberg markets. vonnie: i'm vonnie quinn in new york. we have breaking news. reports that the suspect in the bombings in new york and new jersey has been taken into custody. is coming from the new jersey governor. it was reportedly after a shootout with cops in linden new jersey.
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the suspect in those bombings has been taken into custody. that is confirmed. a trip to the united states in canada after britain voted to leave the european union. tom keene sat down with him to talk about the goals of his business. the britishn is public to leave the european union post-brexit. a perception may be created overseas that's how london is going to stop being open-minded and outward looking. it's a very simple campaign in three words. london is open. >> where's the next london? where is the alternative? >> there's only one london and there is no alternative. my message to people who do great work in london creating jobs and growth is access to talent and the regulators. why would you want to go elsewhere and hamilton is coming
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to london next year as well. >> when prime minister mays speaks for you and the rest of the united kingdom who is she speaking to? do you know who you should speak to to move forward business and politics? >> one of the things we have been impressing upon the prime minister is that it is crucial london has a seat around the table. >> how do you affect that? >> the government is agreeable to that. our government needs to recognize that crucial for london. london is a powerhouse for the you. i think thes is government recognizes that even if you were in favor of exit if you want to be on the right side of history and make brexit a success it's in your disk --
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best interests do it right with the eu. jobs are leaving london. >> the idea of a single marketer. london and the united kingdom do they need the eu single market or do they not? >> we will survive. the issue is not surviving. the issue is having more jobs and more growth. showing the world that london is open means having access to a single market. talking to our neighbors. my point is very simple. as angot to use brexit opportunity to reconfigure our relationship with the eu and recognize america, canada, australia, japan are all opportunities as well. mark: london mayor with tom keene. is in new york today
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for the un'general assembly. she is also meeting with representatives of some of the biggest u.s. companies to reassure them they should not pull away from the ukip. -- u.k. storyone on this amazing that you broke over the weekend. the chancellor is ready to give up his idea of membership of the eu single market. give us an idea of the significance of this. >> this is you. member.e most pro-eu we have a large share of the cabinet who are brexit tears. hammonds has come around to the idea that because they are insisting on having full control of immigration that single
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market membership is just not want to happen. will not give in on the idea of freedom of movement. once hoping to get is a shadow single market. is it realistic? the bank is probably aghast at the idea of hammond giving up the single market. 10 britain's global firms retain levels of access to europe? the treasury certainly are counting on the idea that london losing status as a financial center would be as damaging to europe as it would be to the u.k.. however that's not quite what you are hearing from european capitals. paris hoping from
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to get in as the next financial center. you've got dublin and frankfurt. this golden status may not be into it with what you are hearing from the rest of the eu. mark: we are hearing britain can't cherry pick. create dateshear; for the triggering of article 50 in recent days. next yearing of looking more likely to trigger article 50. >> i wrote a story in august. theresa may was leaning towards march or a role as a potential date. people want her to deliver on brexit. harde want out and those tricksters in her cabinet want it to happen sooner rather than later.
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there is this issue of uncertainty. until it's triggered you do not know what is have thing in propertions because negotiations can't happen until article 50 is invoked. you have elections in france and germany coming up and if you don't trigger article 50 then you have an inevitable gap of a few months. that void will be filled by eu policymakers. >> no possibility of hard concrete negotiations. mark: great story. still to come, the suspect in the bombings in new york and new jersey has been taken into custody. more on this developing story. this is bloomberg. ♪
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mark: live from london and new york, i'm mark barton. vonnie: i'm vonnie quinn. this is the european close. president obama spoke earlier in the bombings in new york and new jersey. we heard from hillary clinton. trump isn rival donald expected to speak later today in florida. here is megan murphy. investigators are looking into the possibility that the afghan citizen -- u.s. citizen born in afghanistan -- that he might be part of a terrorist cell. what more do we know? >> there have been several developments in the past hour. there has been an altercation where the suspect has been taken into custody after a shootout with police. we also have increasing information that this suspect
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was not only connected to what we saw in chelsea and new york but an earlier bombing on saturday. we also don't know much more about the motive for the family. we have police in new jersey investigating his house. what investigators will be trying to piece together is whether he has any connections to foreign terror plots and what he's been reading and his family history. hillary clinton gave a statement and questions about lohan balks. the government can't do this on its own. this puts her in a tricky spot. she's facing an opponent who just goes out there and says
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that ae first person bomb went off in new york and called it a terrorist attack. she is a more measured politician by nature. she says we need to look at the data and the fact. obviously for him this fits right into his soul meme that this is a huge problem in the and our elected officials are not doing enough to track -- crackdown on these attacks. police officials are in a very difficult situation. it's very hard to track people who are self radicalized. this is an incredibly difficult proposition. silicon valley can and probably should do more. mark: how would a trump presidency crackdown? would be the actions to
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crackdown on this type of activity? >> he has outlined a plan to fromt people who come countries with extremist tendency. he has wavered on that plan. outlined specifics in terms of what he would actually do to be tougher other than saying let's not let these people into the country and deport people who have any connection to this kind of activity. a core part of his program is to ramp up the military and security. there is a dollar tag associated with that and a common sense tag in terms of what we can actually do. it requires discipline and resource and it's becoming very difficult to track just because people can submit these messages through encrypted networks which are impossible to even monitor. vonnie: we will keep you updated
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throughout the day. megan murphy, thank you very much. bill de blasio will hold a conference on the bombings. we bring you his remarks. how's it looking as we head to the close? mark: what a rebound. the biggest gain since september 2 for the stoxx 600. after the biggest weekly loss in over three months. it was quite a turnaround. that was the second week of decline. the longest losing stretch since july the eighth. every group rallying today. what a week. bloomberg markets continues. this is bloomberg. ♪
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matt: i'm matt miller. scarlet: i'm scarlet fu. welcome to bloomberg markets.
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♪ we are covering stories from new york and send her cisco. here's what we are watching. in half an hour tilde plus it will hold a news can't rims on the weekend explosion -- news conference on the weekend bomb explosions in manhattan. today we sit down with an m&a veteran who advised on dell deals. we will discuss activist investors and the election impact. mark hirst sat down with bloomberg on the plan to take down with competitors. his comments coming up. we are halfway into the u.s. trading day. let's check in with julie hyman. julie:

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