u.k. relationship has for many years been the anchor of the transatlantic relationship. since world war ii. my own experience with the u.k. has more to do with the royal marines. i have had many great expeditions with around the world. we have a very tight relationship as does the navy, air force, and the army. long may it be that way. where more than allies, where -- we are friends. we think the same way and the threats that face us same way. these are crucial times that we live in the 21st century as announced itself as a messy century full of different centers of gravity big changes in what defines national security. more than just about armies, navies, and air forces. but also, what defines us as a people in our economic strength and culture and the rule of law. those several things working together hopefully will lead toward a peaceful world. in europe, our friends in europe are challenged by a russia that is increasingly disruptive in what it seeks to do. that has had the effect of r

the u.k., the right honorable gavin williamson. mr. secretary, welcome to washington. there's no secret in this room about the fact that the u.s., u.k. relationship has for many many years been the anchor of the transatlantic relationship. since world war ii. my own experience with the u.k. has to do more with the royal marines, which i have had many many great expeditions with around the world, and we have a very tight relationship as does our navy, our air forces and our army. we are more than allies. we are friends. and we share common values, common purposes, and we think the same way. react to the threats that face us the same way. these are crucial times that we live in. the 21st century has announced itself as a messy century full of different centers of gravity, big change in what defines national security, more than just about armies, navies and air forces and marine corps but also what defines as a people, our economic strength, our culture, and the rule of law. those several things

u.k.is room that the u.s. relationship has been the anchor of the transatlantic relationship is since world war ii. my experience with the u.k. has more to do with the royal marines, which i have great expeditions with around the world. we had a tight relationship. it be that way. we're more than allies, we are friends. we share common values, purposes and we face the same way. these are crucial times we live in, the 21st century has announced itself as a messy century full of different centers of gravity. change in what defines national security, nor than about our -- more than about armies and marine corps's, but also our culture and the rule of law. things working together, hopefully, will lead towards a peaceful world. in europe, our friends in europe -- ahallenged by russia russia that is increasingly disruptive. that has had the effect of revitalizing allied defense spending, military modernization and readiness. about -- what is still the most important alliance is a north american

and u.k.. they are except -- expecting to sell into the eu. right now, that works really fine because what is the european union fundamentally? it is called a single market, which means there is free ovement. absolutely free. no checking, no money, no anything. free movement of goods, free movement of services, free movement of capital, and free movement of people. that is inherently that european single market. now when the u.k. is no longer part of the single market, there can be no free movement of goods, services, people, or capital. now, when it goes over to the eu from the u.k., it may have to pay the tariff that is 10%. it may have to get -- he will have to get reinspected for the safety provisions around an utomobile. that adds another $2000 per car carried it will have to go through customs clearance, which will take a couple of weeks. if you have salespeople who were commonly crossing the channel to help with the sales, not so much anymore. brexit has the potential to have a huge effe

u.k. government tries to reassure citizens and businesses in the event that britain crashes out of the european union with a deal it's calling the survival plan it's. good to have you with us to have his former aides have been convicted revelations are swirling about money paid to women over alleged affairs well now u.s. president trump is firing back at opponents who are calling for his impeachment trunked went on fox news to declare that he has not broken any campaign laws he attacked his own attorney general jeff sessions for failing to show loyalty and take control of investigations. here's what trump had to say in response to questions about his political future i'll tell you if i ever got a piece i think the market would crash i think everybody would be very poor. because without this thinking you would see it you would see numbers that you wouldn't believe in reverse you are let's go to washington know our bureau chief alexander phenomenas following another extraordinary development

u.k. time. what would he say about the report overnight that the eu will apply tougher sections on russia? this is bloomberg. ♪ anna: this is "bloomberg daybreak: europe." let's get a bloomberg business flash from juliette saly in singapore. juliette: deutsche bank is doubling down on troubled commodities trade. goh less than a week to before shareholders, and the restructuring plan, unsecured bonds will be $.45 of value. the process will increase support for the restructuring. hit a recordave high of $82 per share. amidis after upgrades positive views on the athletic category and the north american region. -- analyst planning a new low-cost laptop and an upgrade to the mac mini desktop. bloomberg has learned it will resemble the macbook air, but with a high resolution retina display. news also set to launch iphones, i watches and ipads. that is your bloomberg business flash. anna: thank you very much to juliette saly in singapore. let's check in on what is trending across the bloomberg univer

and u.k. combined have sold around twelve billion pounds of dollars worth of weapons to to the saudis whose weaponry is being used in this campaign with over one hundred thousand missiles being launched and sorties being being launched on the yemeni and the yemeni streets so this is this is huge there are huge number of opportunities that can be explored if there are actual if there is the desire to take things forward in terms of the united nations but also in terms of international law but this is where it gets incredibly ambiguous and incredibly problematic because that's where the political agendas really start to come to the fore we've seen at the united nations the united kingdom is the panel that with regard to yemen which which technically means that is responsible for putting these motions forward that we've seen that in spite of widespread acknowledgement that yemen is facing all kinds of humanitarian crises with over twenty two million people in need of humanitarian assistance the u

and even the u.k. in selling weapons to riyadh's the u.s. also helps with the targeting of those weapons i spoke with about the piece. we have actually consistently refer to the coalition as us back so this isn't a new elements that come into our reporting it was important to talk about the ball and who made that bomb especially because we knew that the specific technology that was use the laser guided technology that was used in this particular strike was technology the president obama had banned the sales of because of human rights concerns and that ban was then overturned by president trump so we knew that this was a really important element and it was one that. it was incredibly vital to get out that odious as they worked through how they felt about the war in yemen still it's only one piece albeit an informative one on a story that doesn't get nearly the news coverage that it deserves considering that the u.n. has declared yemen the world's worst humanitarian crisis definitely not this war and not just the u.k. and u.s. involvement in i

u.k. you won't find any of that russian mean an athlete. affiliation or it may mean a national affiliation so most of the different nationalities who will love to have in this city would also identify as russian i wonder if you given that you get so much maybe multiculturalism is not such a bad thing after all no because i don't buy your definition of multiculturalism at all and just because you have one most with five thousand people able to fit into it that does not in any way replicate the europe that are you know i've just come from belgium mozambique in fact the jihadi capital of europe where they have twenty two mosques in a six kilometer square do you have miles or kilometers here kilometers yeah six kilometer square area twenty two mobs so it's very different for me where i live in terms of multiculturalism which is much more about monoculture who live in ghettos and showed it's a very different definition to the one that you might understand i actually want to discuss that but bef

is muhammad it's the number two name in the u.k. so much and i find that from a demographic perspective it's very frightening that actually by twenty fifty they'll be more muslims in the u.k. than there will be a british person i find that actually quite distressing you know i have a kid who is born to a muslim father he's four years old called moment he his name is different it don't know how many it is a muslim name but is it a homage it is not mohammed but it is a muslim name i wonder well i mean i would have called him mohammad there but that everyone is called mohammed so how do you know who's your mom. i think in russia i would have left her problem finding mohammed and if you a question if you have a list of how but first let me ask you a question would you ban your kids from playing with my kid because he has. no as long as he had i mean it wasn't really done on names alone i could tell what a kid would be like with their names but it was about the fact that they were maybe would turn up to school without a home what they tu

u.k. foreign secretary says no deal would be a mistake and those guidelines for everyone they're being called survival plan i'm burnt off in berlin this is the day. i'll be casual about the deal because we haven't reached any agreement anything we have a duty as a responsible government to plan for every eventuality whether it's trade security aviation a new systems u.k. systems in europe i mean it really would be a construct attending all of these negotiations that would you know reach a deal let me be clear about this this is not what we want and it's not what we expect. but we must be ready. also coming up tonight to more tit for tat tariffs between the u.s. and china and who is taking the hit ask the people in wichita kansas. but i have from companies that they may have to lay off people they can only absorb you know the head on their profit margins for so long and then. be competitive that competitive they can't they can't sell they have to lay off. or we begin the day with preparatio

romaine: when i look at u.k. valuation, you're talking about a market that is cheaper than the u.s., cheaper than china, you name it. tell me something good about u.k. equities now, particularly with the brexit deal? >> the important thing to remember about the u.k. equity market is it is not representative of the u.k. company. only 25% of have their sales revenues emanating from domestic u.k. companies. that means 75% is plugged into what is going on globally. globally, the economies are strong, particularly the united states. valuation forount an international exposure by buying u.k. equities and that is attractive. romaine: at what point to get the market to see that same view and embrace u.k.'s stocks in a way they have not done for two years? >> i think we are going to have to wait until we see the deal for people to get excited. as an investor, you have put money to work today to reap the benefits of that. if we do get signs we get a deal worst case is the being priced into domestic stocks, you've got that

and the u.k. department for international development we deny allegations against them we hope to put specific other allegations right outside of the white helmets next time he's on the show but that's it for today's going on the ground will be back on monday to investigate alleged u.k. police corruption with former metropolitan police chief inspector rod charles until then people judge of us by social media will see on monday fifty eight years to the day cuba formally nationalized all u.s. and foreign owned property on the island its finance minister che guevara would be assassinated by cia backed forces seven years later. the philippine city of angeles when the u.s. military moved out the six two or smoothed in. and now a whole generation of fatherless children is growing up piano. played that. has been pulled down. the same general idea i was and i know you'll. see. you. say it isn't the first time the t.v. crew fuse you or takes you were in won't answer is no minute now why not if you are. tha

barclays u.k. businesses did quite well. the asset bank did well, particularly the investment banking side. taylor: sales in tesla are higher in the second quarter. tesla has ramped up reduction of its model three sedan. ceo you london mosque said he analysts her the 2 scorned months earlier for asking what he called bonehead questions. >> i would buy to apologize. honestly i think there is no excuse for bad manners. it.ve no reason for i got no sleep and was working 120 hour weeks. 24 hours abal news day on air and on tictoc on twitter powered by 2700 journalists and analysts in 120 countries. i am taylor riggs. this is bloomberg. bonehead dataa check. -13, dow futures -21. the euro comes weaker, the dollar stronger, oil maturity, a mixed read. we have three currency is describing a moment. i let with the em disaster, five is way different than 5.08. with theconstancy three central banks reporting. sterling have put up for francine and her interview with mr. carney. what do you have? a little bitk

and it's shocking to me the number one name in the u.k. is muhammad it's the number two name in the u.k. so much. and i find that from a demographic perspective it's very frightening that actually by twenty fifty they'll be more muslims in the u.k. than there will be a british person i find that actually quite distressing you know i have a kid who is born into a muslim father he's four years old. he his name is different it don't know how it is a muslim name but is it it is not mohammed that it is a muslim name i wonder well i mean i would have called him mohammad there but that everyone is called mohammed so how do you know who's your mom. i think in the rush i would have left her problem finding mohammad you a question if you have a list of how but first let me ask you a question would you ban your kids from playing with my cat because he has a. long as he had i mean it wasn't really done on names alone i could tell what a kid would be like with their names but it was about the fact that they were maybe would turn up to school without a

through the u.k. are we can talk. his joining us live from london she's head of africa research at the bank standard chartered thanks for talking to us. clearly the reason may is on a mission isn't she she's looking for whatever to drum up as much trade as much business as she possibly can in readiness for britain's pulling out of the european union. well there has been a longstanding focus on deepening the economic relationship with key sub-saharan african economy is a lot likely preceding this trip for some time however there is this greater impetus behind being able to secure additional trade agreements looking post twenty nineteen most african countries certainly the key ones with which the u.k. has engaged have had a reasonably robust growth track record and this is what this trip has to be seen in light of being able to strengthen those existing economic ties so it's win win pretty much isn't it south africa let's just concentrate on so that ruka for today but it is win win is the south africa is in dire need of

the u.k.'s breaks it's a minister dominic robb set out the u.k.'s plans in the event of a no deal break said let's take a listen to some of what he had to say. we stepping up the pace and the intensity on the go stations and i'm confident that a good deal is within all sides that remains our top priority it remains overriding priority and at the same time naturally we've got to consider the alternative possibility that the e.u. doesn't match our ambition and pragmatism but we do know reach a deal let me be clear about this it is not what we want and it's not what we expect all right let's get the perspective from the european union h.q. standing by in brussels is our correspondent barbara they so good day barbara what do you policymakers make of this document do they believe the u.k. is ready for a no breaks it deal. the e.u. itself has already early in the summer a sort of talk to its member states and said ok folks things are not going so well you need to get ready for a no grex a deal so you need to take preparations that of course means there w

u.k. government tries to reassure citizens and businesses in case britain. the european union without a deal. that some are calling. talk to the captain of a german aid ship standing. two hundred thirty rescue. you with us tonight u.s. president is firing back at opponents who are calling for his impeachment it's been two days since his black tuesday when two of his aides were convicted and one of them his former attorney accused of ordering him to commit a federal crime to influence the outcome of the twenty sixteen presidential election when on the function for show this morning on fox news to declare that he hadn't broken any campaign last. jeff sessions for failing to show. loyalty and take control of investigations here's what trump had to see in response to questions about his political future i'll tell you what if i ever got a piece i think the market would crash i think everybody would be very poor. because without this thinking you would see that you would see numbers that you wou

u.k. time. let's get to bloomberg first word news. >> donald trump has denied using campaign funds as hush money for women who alleged affairs. day after federal prosecutors claim some officials were aware of the payments. his payment contradicts a guilty played by michael:. --: -- cohen. >> later on, i knew. understand, what he did, they were taken out of campaign-finance. they didn't come out of the campaign. they came from me, i tweeted about it. >> strong evidence, but let's agree that it is strong that knew thatmp the -- michael cohen would advance money on his behalf. and that it has a political purpose to its. the resumption of u.s.-china trade talks has boosted hopes that a trade war can be averted. today, the secretary for international affairs and chinese commerce ministers continue the first face to face a trade discussions and since june. that is as the next round of tariffs took effect at one minute past midnight washington time. donald trump plans to punish carmakers who produce ve

as a result of our victim being forced into marriage the u.k. home secretary has now announced launching an investigation into the handling of these cases but charities have been getting horrific stories of young women forced into abusive marriages for the sake of you can be as for years and start r.t. london. politicians across the us a company too in those seats in congress in the upcoming midterm elections they're described as one of most important in recent history because it could swing the republican majority that allows donald trump to deliver on his policies there's also the possibility that the democratic majority could make threats of impeachment much more realistic to caleb maupin reports next how trumps become the focus them of these forthcoming mid-terms. now the midterm elections are months away and across the country it seems pretty clear that the elections will focus on one single issue donald trump that's not an exaggeration check out this campaign ad from florida everyone knows my husband ron to santa is indorsed by president t

u.k.'s negotiators are said to said an agreement will be reached by november carried and standard deviation. british bank standard chartered has paid a substantial fine for dealing with iran. now, u.s. authorities may be hitting it again and bring terminal charges. -- criminal charges. news flow interesting this morning and we see futures that are kind of mixed. dax futures look pretty weak. unchanged. ftse futures are basically unchanged, as well. the broader euro stoxx 50 futures are trading down. the interesting thing is we did see equity indexes rising in the u.s.. he'll see them in a second. -- you'll see them in a second. there are concerns the fed may raise rates twice more this year and four times next year. look at the treasuries. today is important to look at a three-day chart. we did see yields coming up yesterday. goldman, warning that if you take the warning seriously that powell is very hawkish, then why would you buy treasuries into these interest rate increases? now it looks

i think there are huge opportunities for us to work together both the u.k. and south africa to increase investment in the future to the mutual benefit both of south africans and of the united kingdom and our correspondent for me to miller is following her trip from johannesburg. the prime minister is calling this a new partnership with africa she says based on shared prosperity and security now so far she's announced that the u.k. will invest about five billion dollars in african economies and will follow up with a five further five billion dollars from private investors and the aim here is that the u.k. would want to be the largest g seven investing in africa by twenty twenty two so this trip around the continent is very much about renewing and strengthening ties with african countries african countries not only around their economies but also security and stabilizing individual african countries she said that the stability of these countries will only allow africa to prosper and also in that way benefit the u.k. in terms of trade and investment she's looke

news live from berlin plans for a worst case scenario the u.k. government tries to reassure citizens and businesses in the event that britain crashes out of the european union without a deal by publishing practical guidelines should talks break down with brussels also coming up we talk to the captain of a german aid ship who is on trial in montana after landing two hundred thirty rescued migrants there and the rounding to the u.s. has china for a second time with tariffs beijing corresponds in kind with a trade war escalating who stands to lose the most we bring you a special report from one u.s. region bracing for tough times ahead. on little rock it's great to have you along everyone keep calm and carry on that seems to be the message from the u.k. government which has published guidelines for people and businesses on how to prepare if britain crashes out of the european union without a deal britain's brigs administered dominic rob says he is still confident of reaching an agreement with the e.u. but that the advice published today explains wha

the u.k. government and briggs its minister dominic robb have become preparing people for the worst possible outcome from the e.u. negotiations crashing out with no deal the government has started releasing a series of papers giving advice to industry on how to prepare for what it stresses is an unlikely result plus the u.s. and china have slapped a second round of tariffs on each other both are targeting sixteen billion dollars worth of goods. that doesn't prevail a little rock in berlin we'll be back at the top of the hour with more news for now thank you for spending this part of your day with us. i'm. in good shape. sweet temptation. and dick of course i'm sure has asked. why. not the cost and takes some up why should i eat all sugar and how harmful kids sugar and how should i enjoy food without any shirt in good shape next on d w. laundry go international talk show for journalists discuss the topic of the week this president or other one to blame for turkey's economic crisis chilled europ

the u.k. prime minister is wrapping up a three day africa tour and kenya having stopped off in nigeria and south africa with the economic impact from exiting the european union living so he's a may is trying to cultivate trade relationships that may have fallen to the wayside despite positive results and it may be a little too little too late for the u.k. once bracks it takes hold paul brennan explains. this is been a crucial trade mission for the british prime minister brics it is less than a year away and to mitigate the expected disruption in trade with europe the u.k. needs to strengthen economic ties with africa. links which have been allowed to decline in recent years in two thousand and one the u.k. provided ten percent of kenya's imports last year the figure was barely two percent analysts say teresa mayes raft of technology partnership and investments initiatives comes not a minute too soon because it's a huge amount of investments can china and even can the united states the largest

as a result of our bit to be forced into marriage the u.k. home secretary has now announced launching an investigation into the handling of these cases but charities have been getting horrific stories of young women forced into abusive marriages for the sake of u.k. visas for years and r.t. london turkey has vowed to retaliate against the u.s. after washington impose sanctions on two officials in un korea over the detention of an american pastor. with these measures the united states has shown a real lack of respect for turkey we patients into yesterday evening turkey will not be disciplined with this understanding and approach. on whedon's thing the trump administration slapped economic sanctions on two senior turkish officials and said any property they have in the u.s. will be blocked in response turkey has said it will introduce sanctions of its own targeting to name u.s. officials besides blocking their assets on also say's those targeted will be prevented from doing business with turkey well the pastor up the center of the dispute is on

and u.k. equities and the ftse 100, a lot of major equities at their earnings from abroad so the currency impact could be useful and the domestic slowdown is less relevant. the u.k. economy will continue to struggle, be slightly behind many of its peers. butit's not doing too badly lacking the rebound we've seen elsewhere in the world. the global economy is still doing ok overall. matt: finally, jamie dimon says we should be at 4% on the 10 year yield. he wants markets to prepare for 5% or more. then he says the bull market could last two to three years. how do you square those statements? mark: i think it's reasonable to say if it lasts another few years, we might see higher rates than they are considering. i think his call for 5% is a relative mark story. at the start of may when he calls for 4%, we said it was a relevant market story and 4% would be in issue in 2018. 10 years have fallen since then. i still think it will not be an issue in 2018. that hasn't changed given yields are lower. 5

that the u.k. was going to have declining growth -- even the governor of england got it wrong when he said the u.k. was at the bottom. my point is the more you talk about these things as though they are negative, the answer is the u.k. economy is more robust than the people give it credit for and these constant forecasts about the downgrade with the u.k. economy, when they keep getting beaten by the fact that the u.k. economy grows, today's sales were better than they were forecast to be. have toets themselves be more responsible about constantly panicking and being jittery about these things. if you take a longer look at these things that will eventually get settled. we are leaving and i think the prospects for the u.k. are remarkable. francine: you must admit that depending on how you leave it will make a difference. >> yes. beingalso about the eu sensible and not putting politics in the way of what is a reasonable and frictionless deal. that is what they should be aiming for. i do not particular

u.k. prime minister teresa mays suggests the failure to reach a deal may not be the end of the world. talking trade. as the u.s. announces a new deal with mexico, we get the latest from mexico's economy minister. an exclusive interview. and u.s. stocks are hitting new highs as investors react to the trade deal announced by u.s. and mexico. now it is 19 minutes into the trading day in the united states. so let's get to abigail doolittle. >> we are looking at very, very small gains for the major averages. lead the w jones, way. right now on pace, each of the major averages for a third day higher. the s&p 500 and nasdac putting in all time highs for another day. oth are after some degree. flipping between very small gains and losses. s&p 500 turned slowly. let's take a look at the three-day chart of the s&p 500 to view that rally. last friday, the s&p 500 finishing up .6 on the comments on jay powell. powell.e of a yes, more of a continuation of that fed policy. and the u.s.-mexico trade deal

unprecedented ruling a british judge has recognized in his long faced marriage as being legal under u.k. law the case was brought by a muslim woman who wanted to vorst to divorce her strange husband the couple were married at a traditional muslim wedding ceremony also known as a nneka twenty years ago but it was regarded as a religious ceremony and therefore not a civil marriage under u.k. law the husband has blocked divorce proceedings invoking sharia law under which a union can only be dissolved by a council of muslim leaders but such councils have no legal jurisdiction in the u.k. . to break this down further we're joined live by political commentator david vance and muslim rights campaigner solomon by its thank you both for joining us on the program now david if we could go ahead and start with you how significant do you think this ruling is in terms of how britain regards religious weddings and the marriage there after. yeah i think i cleaned it and it is quite a significant ruling because it is essentially the first time that the british courts or legal system has essentially reco

u.k. police image of pale dot co dot u.k. that's u.k. image of pale don't kowtow you trashed. clearly we are treating the scene and parliament square as a crime scene so called and a lot needs to be in place for some sign as the investigation team continues to carry out important work to establish exactly what happened. i can appreciate this is cause a great deal of disruption this morning to those who live work for visiting this area thank you to the public for their patience and understanding whilst we deal with the incident we will be working as quickly and diligently as possible in order to reopen the area but in the meantime i'd offer the public trying to avoid parliament square and westminster at this time. the safety of the public is always our top priority and the met police will continue to do all that we can to protect the people of london as always the public should remain vigilant and if you see anything suspicious or something that causes you concern of course please dial nine nine nine. i'm happy to take a couple of questions this is going to be great to be a wee

it is a u.k. listed company. that means it is a u.k. company. in terms of domestic companies, i would be wary of utilities because the corporate agenda is still out there and really would be destructive to utilities. i see a company that is certainly capable of properly in a press -- property in a post-brexit environment. tom: this has been a constructive discussion on mr. johnson and the conservative party. we will drive forward that conversation coming up on "bloomberg surveillance." herro, he isid long eu banks. the president this morning, he tweeted. ♪ tom: "bloomberg surveillance." the president on one of his favorite themes, which is looking at -- this is a two-part week. -- tweet. google search results for trump trumpis have it best -- news have it rigged. fake seamen is prominent. fair mediator should have. illegal?l? -- they are controlling what we can and cannot see. this is a very serious situation. will be addressed. i am going to be direct. there are millions of americans that agree with the president on this. whether it is right

but it seems that the u.k. is not immune from income inequality now it's not and you mentioned the labor prime minister raines she's got a point just in terms of these compensation committees don't get the compensation committees to have to please the c.e.o. so what are they. and to do however i think is a great move towards it being based on the conversation be based on successes and also k.p. eyes keep performance indexes i do want to mention this is two points here just think about who the c.e.o.'s are bought you know fifty one percent of all the c.e.o.'s on the footsie one hundred their accountants by background who becomes an accountant these on aristocrats this one hundred twelve these are people who have made a great strides in the business community by studying accountancy and working for many many many years and working their way up also now the number of tech c.e.o.'s has trouble over the last four years so you've got one in nine of those c.e.o.'s are tech whizzes who are they they're also not aristoc