tv Bloomberg Markets Americas Bloomberg June 5, 2017 10:00am-11:01am EDT
[captioning made possible by bloomberg television] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] vonnie: the latest on thetry attacks in london what it meets for the united kingdom election this week. and u.s. president president trump's plans on infrastructure policy. straight to julie hyman in new york. julie: we have the main report on the i.s.m. services industry. coming in lighter than estimates. 57.9. 51.1 was the estimate by economists. the pressure of the services economy the largest part of the economy in the united states. we already got the informing number last week. however, even though this number is coming in lighter than estimates, still shows nonmanufacturing industries on relative solid footing here. we got factory orders for april coming with the decline of 0.2%. however the march numbers was
revised to a gain of 1st0%. that much better than estimates. durable goods orders falling 0.8% in april. the final reading on that. not much reaction either way in the exwidth wit markets. i want to mention what's -- equity markets. i want to mention what's going on with oil. reports that oil nations were cutting off relation was qatar. it's coming down the perception this will not disrupt supplies and shipment in the region. oil down 1%. vonnie: thank you for that on the u.s. economic data. mark: the latest on the terror attack on the london bridge saturday night which killed seven people and injured almost 50 more. the election will be dominated by security debates. prime minister may spoke earlier tay. >> despite the progress we have made in recent years, and
successes we have enjoyed, we must do more to respond to the changing threat to our country and our way of life. we cannot deny that the threat from islamist extremism is one of the gravest we face. mark: bridge, what do we know about the attack? >> well, what we know, mark, is that the three attackers were of course shot within minutes of ramming into pedestrians on london bridge before going on a stabbing rampage. we also heard that there's been 12 arrests made. ne of those released without charge. since then prime minister may gave her second update saying that police do know the identities of the three attackers, but they are not releasing the information and will do that as the investigation continues. as it becomes appropriate. though 11 more people have been
detained after further raids this morning. i'm standing on london bridge near the area where a cordon is still up. there is a heavy police presence. and also quite a large crowd gathering and a lot of flowers that have been laid on the ground in honor of the victims. seven killed and 48 injured in this attack. it's been -- nejra, a strange 24, 48 hours. yesterday the campaign was suspended. that suspension of campaigning didn't last long. theresa may and jeremy cordon have been attacking each other. hat have they been saying? nejra: what we do know the islamic state has claimed responsibility for this attack. the debate around the election.
you have three days left, has shifted to terror in the u.k. jeremy corbin has actually come out and said that theresa may should set down the facts that the number of police officers was cut under her watch while she was home secretary. the number of police officers and wails cut by 15% while she was home secretary from 2016 to 2016. theresa may has come out and said it's not just about the number of police officers. it's about the powers you give to those police. what she's referring to is the fact that she said jeremy corbin has voted against every single piece of anti-terrorism legislation throughout the time that she was home secretary. so she referred to that saying it was not a mark of leadership. she also pointed to the fact he was against the kill policy which she says was behind saving a lot of lives on saturday because they shot those three
attackers shot dead within minutes of their attack on london bridge. vonnie: the point where we have been talking things in britain every day. f course this attack have an influence on the barometer. not quite at the lowest it's been since last july. it is down a little bit. how much do markets feel like this attack will impact the outcome of the election? nejra: that's an interesting question, vonnie. it's hard to tell at the moment because we had quite a big range in the polls. when theresa may called this election, the serve serves were leading labor by 20 points. since then polls have shown a conservative lead from everything from one to 12 points. we have had two polls come out which have basically been taken up to june 4. so they do capture some of the time periods of this attack. they have shown a joifjoif lead.
one of five points and one a serve serve lead of 11 points. also the other thing is there have been polls showing how confident people are in terms of who would be stronger on defense and security. they do show may and the conservatives leading on that. however those polls were taken before this attack. we'll have to see whether that changes in the coming days. mark: thanks very much. reporting from london bridge. right now two minutes to the close of trading here in europe. we're lower today. we were down about a quarter of one%. many markets in europe are closed today for the monday holiday. volumes are about 40% debelow the daily average. we did rise last week for the first week-l gain in three. this is sterling going back to june of last year. we were down by about a quarter. we rebounded 11926. one of the reasons we saw sterling rebound, that guardian
poll which suggest the tories are about 11% of the labor party. but over the weekend that killed seven people, we did see sterling decline. since may called the election on april 18, sterling has risen by 2.4%. in may it closed at an eight month high. this is implies volatility over the next week tells us the expectations the swings in sterling dollar in the next seven days. earlier we rose to the highest since january. we have come down a little bit since then. nowhere near the record highs we so pre-brexit or we saw before the 2015 election and the 2014 scottish referendum. this is one of the big stories of the day. the stock markets massive decline tay.
7.6%, since 2009. saudi arabia three other arab countries cutting off those diplomatic and economic ties to 7.6%, since cathera. an unprecedented move to punish one of the regions' financial superpowers for its ties to iran and islamic groups in the region. vonnie: absolutely. now, mark, bloomberg exclusive as president donald trump kicks ong push on his infrastructure plan, jamie dimon isong push on calling the infra uote an embarrassment. >> this economy has been chugging along under 2% a growth for eightors. it's a long recovery, weak. it's about half of the average recovery. so i think under no great weakness by the american economy. if we make wise policy decisions, corporate tax, infrastructure, regulatory reform, and other things, think we could grow the economies more. i wrote about it.
quite strong about it. >> china's pushing infrastructure. what needs to be done in the united states? >> i made the point, we haven't built a major airport in 20 years. i'm told it takes 10 years to get the average permit to build one bridge. we haven't built a bridge in new york city and we're building one now, in 50 years. came from long honk congress, it's embarrassing. can-do nation should get back to building and constructing. permits mything, rules, requirements, we have to get back to the can-do attitude that fits our contry. we're getting can-do nation should behind. we shouldn't. it damages growth. vonnie: that was an exclusive terview with jamie dimon scharme and c.e.o. of jp morgan. n air traffic control. that and more for the week we
bring in kevin who joins us from in washington, little bit? to set the tone for a week in which we're bound to see a lot more come out of washington, particularly thursday with the . a big week, this push off with infrastructure is it an effort to change the debate a former f.b.i. comey testimony. >> good morning, vonnie. that's what the administration is hoping. they are hoping this infrastructure week, which will be nvalled later today, which based upon a plan put forth by house transportation committee chairman bill shuster, will be able to carry some momentum forward ahead of these controversial hearings this week. can i tell you the president will head to cincinnati, ohio, later, for a rally where he will again meet with business leaders. again trying to move this testimony. that is all anyone will talk about on wednesday and thursday. vonnie: how much credit will this infrastructure plan buy the president? it looks like so far it's not -- >> there's two parts to this
fans we know about. first and foremost the privatization of the airline industry g.p.s.-type of system. this is something that would be a big win for airline companies. they have been pushing for this for quite some time. and you'll remember that several plans in the house and senate want to do this. it's opposed by some democrats, but again this has been a heavy lobbying effort under way by airline c.e.o. the second thing, this will be interesting to watch, whether or not he juxtaposes this with tax reform. representative shuster said calls for using repatriated funds from overseas as a mechanism to help fund some of the infrastructure spending. i talked with sources who suggest that could be part of the white house plan. nothing is confirmed until later. mark: we have the house vote scaled back dodd-frank how will that go? >> i spoke with jeff hensarling, they are anticipating this will
pass. the moat vote is likely to expected second half of this week. all eye also turn to the snafment got to be candid here. not much movement on the senate banking committee on that front. in fact, any type of plan that passes the senate will have to be more moderate than the conservative plan that chairman hensarling has sent a mark around in the house. mark: it was a busy weekend from tweets. he was criticizing the london mayor's reaction to saturday night attacks. he tweeted about the travel bans. gun control. here his tweets haven't gone down well. they have been received harshly by u.k. leaders. how has this weekend thing gone down over that? their one is cratching heads. i know the market doesn't have reaction anymore to the president's twitter account. here in washington it's getting a lot of attention in their heads.
i know the market doesn't have reaction anymore temples people saying this was supposed to be a week from a strategic standpoint about infrastructure, we're not even halfway through the morning and there seems to be a lot on the president's mind. vonnie: kevin, correspondent for bloomberg news, thank you for that. check in on the "first word" news. >> thank you. qatar says a decision by saudi arabia and three other arab nations to cut diplomatic retions is baseless and without justification. the saudis, bahrain, u.a.e., and equipped are suspending air and sea travel link. saudi arabia has accused qatar for undermining efforts. >> we certainly would encourage the parties to sit down together , address these differences. and if there is any role we can play in temples helping them address those, we think it is important that the g.c.c. remain a unified. >> the g.c.c., gulf corporation
council is made up of the oil rich commodities. the u.s. has begun a military operation to drive islamic state from its stronghold in syria. turkey says began friday night. the u.s. has been arming syrian kurds for the operation. turkey considers those kurdish forces to be terrorists. the weapons will eventually end up in the hands of turkish kurds. putin is down playing reports of russian interference in u.s. politics. putin tells nbc news he's unaware of a proposal from president trump's son-in-law to start back channel between the incoming administration anti-kremlin. he also says it's nonsense to say russia has collected compromising material about the u.s. president. in suburban philadelphia, entertainer bill cosby doesn't plan to testify when he goes on trial today on sexual assault charges. still, testimony he gave in his accuser's lawsuit a decade ago
could prove pivotal. inviting women to parties at that featured pills and alcohol. he denied any wrongdoing. global news, 24 hours a day powered by more than 2,700 journalists andalists in more than 120 countries. this is bloomberg markets. mark: thanks. coming up erasing gains. more on what the diplomatic spat means for oil. this is bloomberg. ♪
on bloomberg television. let's get to futures. earlier gains diplomatic clash involving saudi, arabia and others. gold up to a six-week high today on the u.s. rates outlook. joining us from the c.m.e. to discuss this further, chris, director of strategy at bell curve capital. do investors not care about this saudi-led lion to cut diplomatic ties with qatar? >> apparently not. we had a huge selloff on high involvement up 1.6%. nfighting between the inlaws we're expected to finally move that momentum to the higher hide for crude. we quickly sold off right after the beginning of european trade session. the future is making a series of high-lows. i apologize, lower lows and lower highs throughout the morning. continued to sell off with no search to the up side.
that's for the bears in full effect in oil. mark: what are the reresistance -- resistance levels for the downside. >> pivot point of 46.26. and another one 4590. other than that, the -- they are aren't stacked. we might test those lows. again, this insfite fighting 57-year-old organization, owe pk, we have seen compliance despite wars like iran and iraq in the 1980's. kuwait and iraq in the 1990's. everyone really knows where their bread is buttered. we expect this infighting not to have any effect and momentum to stay lower. mark: what about gold? six week highs. how do we play gold going into the fed meeting next week? >> exactly. you used to be able to play gold in inverse to that strength in the dollar.
we had strength in the dollar but 10% reyoifer in gold. 4% up higher just in the last 30 days. i really believe that long-term i think you are going to see gold hovering right here. after that rate hike if we do have a pull back and dow weakening, you'll see goal return above $1,300. that key resistance it couldn't get above two months ago. mark: i have a chart later in the battle of the charts which will show a call by methyl a guy there, the co-founder said gold will go to $1,400 by the end of the year because the fed isn't going to be as hawkish. that's his vue. can you see gold at $1,400? we haven't been there for four years. >> i do believe gold does go higher. you risk off assets. you look at the yields. historic lows despite record breaking stock markets. and that's been a theme going throughout. you see bit coin all time highs.
you see these assets. and i think gold is lagging because of that dow strength. $1,400 is not out of the question. e have a target of $1,340, $$1,360. mark: today's futures "in focus." vonnie: fantastic. still ahead billionaire hedge fund manager john paulson is struggling to have investors stick with him. more on his shrinking fund ahead. this is bloomberg. ♪
julie: i want to hit one pharmaceutical company that is crowd, one melen of the worst performing stocks. vitron research, was already short on the company. and out with a new short thesis on mallinckrodt. the shares have already been reacting. down by 6%. we'll get you those details as soon as possible as well as any kind of reaction or comment from the company itself. on to asco. that meeting of oncologists which many companies present research. reaction to that research we have inside genomic which presented the results of one of its experimental drugs between kidney cancer. it seems there this is a, quote, small step forward but doesn't move the needle on where to use the drug cocktail.
meanwhile the dominant drugs to by t it, divo, made bristol-myers squibb, they presented results to expand the usage to different types of cancer. there were perhaps potentially setbacks in that. sigh -- side effects. last in oncology on the flip side,le that company's experimental drug helped shrink tumors. those shares are soaring by 47%. its partner had earlier been higher now shares are trading lower. she holding released underwhelming results. which doesn't compete with a rug in an older version. not much changed. mark: thanks a lot. time for the bloomberg business flash. a look at. so biggest business stories in the news right now.
in france, stock gwen trying to raise $1st8 billion. it gives the business money for acquisitions. planning to sell 20% t will remain the controlling shareholder. both of the lawsuits by ousands of farmers against sidgen. it has acquisitions. to do withn to introduce a genetically engineered corn seed variety to the u.s. before china approved it for imports. he suit claims the move -- sygenta denies it did anything wrong. that's the latest. bloomberg business flash. this is bloomberg. ♪
emma has more. >> three days to go before the general election in the u.k. and the rhetoric is heating up over the london terrorist attack. labor party leader jeremy corbincies prime minister may should resign over budget cuts to the police she made while home secretary. may says she has a strong record on dealing with extremism and ys corbyn opposed every kind of terror law she introduced. president trump has criticized his own justice department and court system over the dispute over his travel ban. the ban targets six predominantly muslim nations. president tweeted that the justice department should have stayed with the original ban and -- he quote watterted watereddown politically correct version. meanwhile president trump is kicking off a week-long campaign for his infrastructure plan. he's sending congress a proposal to hand over control of the air traffic control system to a nonprofit corporation. later in the week the president
will go to ohio seeking support for a plan to put in roads, bridges, and other facilities. in south korea new president is proposing a $10 billion to increase jobs. the finance ministry there said much of the money will be used to create 86,000 jobs, 71,000 of public sector. the plan save a position in parliamentary. his democratic party holds just 40% of the seats. global news 24 hours a day powered by more than public 2,7 journalists and analysts in more than 120 countries. this is bloomberg. vonnie: emma, thank you. take a page out of the amazon book or e boom. analysts are looking for the iphone maker to unveiled a siri personal assistance device. that will make this the first worldwide developer conference to introduce new hardware since 2013. for more we go to corey johnson outside the conference in han jose. cory -- san jose.
cory, that would be great hardware. >> that is a long-term goal of the company. as that starts with software. that really has always been the focus of worldwide developers conference in san jose this year. you're right. there is some expectation they might introduce a speaker app. google play or amazon echo-like product to compete. siri software helps them to do that. they also reported they will announce a new laptop with new intel chips. the laptops are not only long in the tooth, even the last set released had subpar reviews because they weren't using the latest intel processors. we expect that to be in the new laptop with faster processors and new -- hardware introduction as well from this event. it is a focus on the developing
that new software, that new i.o.s. system that will run future phones. of course, the thousands of developers gathered here in san jose to write software that will work on those. that's the goal. vonnie: exactly. they're streaming in behind you. the number of men in terms of to women at this time of the morning. let's hope that changes. cory, let me ask you how apple will entice these developers to do more? >> that will absolutely not change. overwhelmingly male event. probably 90% of the people. those developers and app developers. i think what really sort of shift towards services, this happened written on top of the software. the software has to work simply and got to find ways to get people to use the software in ways that use the latest hardware. we might get includes about things working on a chip in
these new phones. what ways they might be using, augmented reality. we have seen am hiring like crazy. -- -- apple hiring like crazey. -- crazy. mark: what are we expecting on the operating system, cory? the music streaming service i gather should have its second update in as many years. does that tell us music isn't where apple wants it to be right now? >> i think you have to look historically, too, to understand how important music has been. 10 years ago this year the iphone came out. preceding that was the ipod which brought apple into a new different business. and owning that music space seemed like they could control for a long ty. they ceded control in that marketplace and had success with spotify in tifpblgt apple feels
like theft right stuff. they have the dimp difficult relationships they have worked over the years. they have the technical expertise and frustrated by the lack of success in the marketplace. another revamp might be in order. when they look at the smart phones, where they have grown. the result is that focus on services. i think they see music as a primary store. vonnie: the a 56% in the last 12 months. is there anything on the horizon that might challeng them? >> they need to regain -- it's worth noting while they have a minority of share in the cell phone business over the last year, they still get the vast majority of all the profits in the strifment that's important to am going forward. they do all this and compel the interest of these developers to make them want to develop an apple first and bring apple the best they have got. that's what this is b one big
nutritional cement maker cutting the sales forecast. distributors have had difficulty adepting to changes in the f.t.c. the f.t.c.'s guidelines stem from herbal light -- herbal life last year. billionaire hedge fund manager john paulson has gone from hot to not. a decade ago he shot by betting on collapse of the u.s. housing market. now he's struggling to persuade investors to stick with him after missteps. assets in the company a have fallen by $6 billion. now the firm manager is just $2 billion in client money. bloomberg business flash. escalating tensions over iran coming to a head today. four u.s. arab allies -- saudi arabia, u.a.e., bahrain, egypt several ties with qatar over the
support of islamist groups and tie was iraq. the u.s. air force spokesman said the u.s. continues to conduct missions out of its base in qatar and grateful to them for their long-standing support of our presence. let's bring in bloomberg middle ast and africa managing editor reha. what's going tonight impact of these measures? >> i think the main economic impact will be on qatar itself. it is being cut off by its immediate neighbors. probably immediate impact will be on the airlines themselves. we have already seen the beginning of conservation. especially at qatar airways. some tomorrow. egyptair will also start canceling their flights, frequent flights to doha. doha is an important transit point. part of the big three global air
lines -- gulf airlines that use the location as an important transit hub. second, if it does last longer, you might see an impact on the banking sector in doha which is reliant, or relies more than the moneycountries on foreign to fund its lending. in particular in view of the world cup in 2022. mark: riad, the market reaction, especially for the stock market, is being quite severe today. saying? investors have we seen the worst of the market reaction or not? >> it's the uncertainty of it. investors really don't know. that's why you're seeing the severe market reaction. i think investors will tell you, it depends where this thing goes. if it resolved over the next few days, yes, you are not going to see much worse than this and see
a rapid snap back. however, if it does end up lasting longer, if they cannot resolve these differences, it will have a significant impact, especially on qatar. i think on the region as a hole. riad, tell us what might come out of it. qatar is not going to suffer as much as some of the other countries. it's still able to riad, tell u might come out exl.n.g. to most everywhere that takes it in. >> qatar is a wealthy country. has a lot of money to fall back on. where will this go? the demands -- there's no specific demand. it's a little unclear. however the assumption is that the saudis and u.a.e. in particular and egypt, other countries, who joined in will want to see a clear commitment from qatar that they will toe the line when it comes to the position on iran toe the line when it comes to the support from some of these islamist
groups. vonnie: what will qatar ask of the united states? obviously military bases and so forth is there. it's still going to be based there. will qatar ask the united states for any kind of diplomatic support here? >> i think qatar will be looking at the u.s. maybe to kuwait, for example, to some its trends to find a way -- friends to find a way to mediate in this crisis. o try and overcome it. mark: thanks a lot. vonnie. vonnie: staying with saudi arabia, the world's largest oil exporter, raise pricing for july sales of all crude grades to asia, u.s., and northwest u.s. they are also gearing up to go public. which we exam on today's quick take.
the world's most valuable company may not be apple. that could come aramco, the saudi arabia oil company t sits atop 1/5 of the petroleum reserves and pumped more crude than the top four publicly traded oil companies combined. they say it is worth more than $2 trillion. what we don't know for sure because its profits have been shrouded in secrecy. lifted. -- could be the chinese internet greater 2014. $25 billion in it says aramco would dwarf that raising $100le with according to one estimate. it would bulk up the fund. gold is seeing urgency after the price of crude tumbled. to less than half now. the deputy crown prince wants to
use the fund to create jobs for millions of unemployed saudis in manufacturing tourism and other fields crucial to the stability. here's a background, explorers from the rockefeller family, standard oil empire, first struck oil in saudi arabia back in 1938. in 1980 the saudi arabia government renamed the company aramco, fueling decades of prosperity for saudi arabia. it generates almost 90% of government income and built of reconfineries and chemical plants and other infrastructure that formed the backbone of the world's 15th largest economy. the argument, prince muhammad envisions the aramco i.p.o. as a centerpiece of the shakeup in history. for the world's biggest oil company, oil is expected to continue providing about a third of world energy for the next two decades. aramco's i.p.o. would put a price tag on the future of petroleum just as saudi arabia
vonnie: former treasury secretary is issuing a warning that president trump's decision to withdraw from the united states from the landmark paris climate accord last week. the u.s. stepping back from a leadership role. >> i'm not going to connect the president's rhetoric and actions to any specific terrorist action. terrorism's never right. terrorism's never justified. we need hugely robust approaches. i think there is a tendency on
the part of some of the president's critics to claim him for everything that's bad that happens. i think that's wrong. that having been said, we have stood in the united states since the second world war for the idea of a community of nations that cooperate with respect to global problems. the two advisors of the president who were held out as leaning internationalists took to the "wall street journal" last week to declare that there is no such thing as a community of nations. those well-known mushy people, ronald reagan, henry kissinger, and james baker, george w. bush, regularly used the concept of the community of nations as what the united states was trying to uphold. when we step away from that, our adversaries have to suspect that we're going to do less for other nations. other nations are going to feel more strongly that they have to
take matters in their own hands. and we saw that experiment. we saw that experiment after the first world war when nations pulled away from each other. when the united states didn't join the league of nations. when britain and france stood for maximizing repa racials from germany rather -- reparation from germany rather than trying to create some kind of internationalcies tefment this is a potentially catastrophic philosophy. and it comes at a home when we have the very serious terror threats that you talked about, and i suspect ultimately more consequential we have the challenge of integrating into the global system arising china. my colleague, graham, at harvard has an important new book out on the trap talking about the difficulty the international system has in accommodating the rise of major nations. those are very hard problems.
but they are that much harder when the leading nation in the world eshoos the value of cooperation -- eschews the value of coppings and the very value of rationality by putting forth puggets that have arithmetic errors. by denying that -- budgets that errors. hmetic by errors. by denying that global climate change is a reality. by publishing economic forecasts that are out of touch with reality. we're in, and i disagreed with plenty that ronald reagan did or george w. bush did, but i never would have said we had seen the first post-rational presidentcy. but that is what i father we're looking at now. i think it's terribly, terribly serious for the world. the question the world is going to ask itself and is asking itself, i traveled a lot in
recent weeks, is, is this a temporary aberration for the united states or is this the way the united states is going? the way they are going to answer that question is to look at other leading segments of society and see whether they are following the president or see whether they are backing off. vonnie: larry summers, harvard university. and former u.s. treasury secretary. mark: also this weekend, former director james comey will testify. russian president putin prushed aside claims about its involvement in u.s. elections. here's what he said in an nbc interview with megan kelly. >> for me personal, this is just amazing. created a sensation. out of nothing. and out of the sensation, you turned it into a weapon of war against the current president.
this is, you know, you people are so creative over there. good job. your lies must be boring. mark: get to moscow, greg white. greg, no interference in the u.s. election. no secret russian dossier. what are startling revelations came out of this? >> it captures the tone well despite megan's repeated efforts to correct the veneer of mr. putin. she didn't get him to admit anything beyond the official line there had been no interference in the election. made a number of specific assertion that is a lot of observers would question that he didn't know about any oral tacts with the trump campaign in the transition period. the allegations that jared kushner was trying to set up a secret back channel. that he was aware of contact and doesn't regularly talk to the
ambassador in washington who had become a key channel for contact. i think the tone of the interview was clearly defiant and dismissive of those allegations. and megan kelly, despite her efforts, didn't make any headway. mark: what putin has done in recent days that he's the centerpiece there, to heap praise on trump. is this strategic going to work if and when trump can extricate himself from his own problems in washington? will it lead to better relations with russia? >> i think that's going to be a tough one. the ems certain now that controversy around alleged russian involvement ties with the campaign, this is going to -- an investigation, these issues will go on for a long time. this will be a continuing questions for the administration. the extent that putin's out publicly praising trump, giving
him pat on the back saying don't worry, be happy, pull out from the paris climate deal, it's hard to imagine how that reassure trump's critics in washington. vonnie: how much interest is there in russia on the narrative of this story, including say thursday and the former f.b.i. director's testimony? are people aware and watching? are they sort of deciding who is right, who is wrong? the media here is tightly controlled so the message is -- from the state media is in line with what you saw from putin and his interview was lead news on the newscast today. bum very much one of -- but very much one of him fighting back tricky questions from the u.s. reporter. beinganding up for russia of -- accused
vonnie: there are no political ramifications is what i'm trying to get it. putin's approval rating isn't going to change one way or another. diplomatic relationship with the united states might change. >> right. certainly it's not become an ssue for putin domestically. vonnie: bloomberg's greg white reporting from moscow. thank you. mark: i said that without moving my lips. thanks. the european closes next. 35 minutes away from the end of the monday session. it's been a day of slight decline. a lot of stocks indices aren't opened today. this is bloomberg. ♪
♪ mark: here are the top stories we are covering from the bloomberg at around the world. london gets back to work after this weekend's terror attacks that killed seven people. debates over security follow as the election is just days away. in the u.s., president trump kicks off his long push for infrastructure with a plan to control of the air traffic control systems a nonprofit organization. we will bring you his comments live this hour. in business news, analysts expecting apple to unfold siri in a new form to compete with amazon echo. at thelive all day worldwide developers conference with update.