willem: i think they will support. leyen?. von der willem: yes. there is opposition but it is not related. francine: thank you so much. we will get back to willem buiter of citi. more on our conversation with philip hammond, chancellor of the exchequer, talking about legally challenging any prime minister who wants to suspend parliament to get a no deal through. this is bloomberg. ♪ ♪ parliament is dead set against no deal and the european union has not changed. the position of the european union remains the same, so the challenge for the new prime minister is to try to work with the same cards that the previous prime minister had, but to play them in a different way that hopefully gets to when a great deal. we have excellent candidates in the diplomatic service and i hope through the normal processes -- i was foreign secretary for two years -- a normal process that takes place one and ambassador retires or resigns, to employ -- replace within our diplomatic service, and i hope that will happen in the case of washington. francine: that was phi

government and willem buiter stays with us. across all bloomberg platforms, we will be joined by jamie dimon global chinan's summit in beijing. this is bloomberg. ♪ kailey: this is bloomberg "surveillance." elon musk followthrough and his promise to take part in tesla's capital increase, buying $25 million in shares. he is the biggest holder with about 19%. creaseock sales in the -- increase liquidity. steep declines in the past two concerns thetoked german manufacturing -- will linger. losinga six quarter streak, aig's profit more than doubled in the first quarter, helping their overall earnings beat estimates which had not happened in a year and a half. tom: it has become an interesting soap opera, anadarko to be taken out by occidental. they will take over african on dollars.a gagilli what are you looking for today? at the ceo of chevron, but what are the next set of headlines? kelly: the thing we want to see now is how chevron will react to all ofth. anadarko has excepted occidental's bid and that gives chevron four days

willem: we are. certainly in the last few months of the year, we had a significant correction and price-earnings ratios. what we are currently concerned about in the short-term is this concern about growth and whether earnings have come down enough. we7%, 8% earnings growth, have concern we need to go a few points lower. we are going to get about 10% earnings growth. the longer term outlook for u.s. equities for the year is quite positive. the valuations are the area we feel most comfortable with, given that we feel earnings downward trend still, we are in quality stocks to whether it's volatility. nejra: one thing you pointed out is you had the ifn manufacturing against the s&p 500, and you pointed out that there's in this decoupling that's happened and use of the gap needs to be closed. i'm wondering what you think the cap would close with equities moving up to meet the ifn, rather than the ifn moving down. why is it equity markets should be repricing? willem: that's the whole question. what we do

professor willem bauder -- professor william bauder. -- willem buiter. the conversation on gold coming up. this is bloomberg. ♪ francine: this is bloomberg "surveillance." we just had breaking news out of spain, opposition parties voted to block the prime minister's budget bill. the approval was blocked by 191 votes out of 350 cast. we were talking about the possibility of a snap election. if you cast yourself back to the protests over the weekend, protesters in the heart of the spanish capital are demanding an election under accusing the prime minister of being soft in alans of talks with cat separatists. tom: what else do we have? francine: let's stick with spanish banks, santander reminded investors the juicy bonds can come with nasty surprises. they rattled the 81 bond market by saying they will skip an option to call 1.5 billion euros of notes next week. the bank cited the need to balance the interests of all investors. joining us is jonathan tice. first of all, thank you. this seems like an important decision for santander, which could reprice in

willem: i don't think so. this is the manifestation of the learning process, central banks -- theye to relearn the have to undertaken on a daily basis this will be a daily event. francine: let's go to wendy schiller from brown university, chair of political science. when you look at the world and the uncertainty because of geopolitics, trades, korea, brexit, now there is iran. which is the one that markets misunderstand or are too complacent about. nobody likes uncertainty. business does not like uncertainty, but politicians do not like uncertainty either because it makes voters nervous. that is a big concern for everybody, at least in washington these days, how will voters perceive it? right now the republicans are holding firm. they still believe in trump there they are not unduly affected by the trade situation. by the tradected situation. they are still not abandoning the republicans. as long as that partisan filter holds, the republicans do not feel as nervous or at however, it seems to be cracking overal

♪ >>> welcome to "street signs" i'm willem marx in london with my colleague in japan. these are our headlines this monday morning >> european stocks soar hitting their highest level in a year as president trump and xi jinping call a time-out on fresh tariffs. >>> chip maker surging as president trump softens his stance on huawei. >> one of the things i will allow, however, a lot of people are surprised, we send and we sell to huawei a tremendous amount of product that goes into the various things that they make, and i said that that's okay that we will keep selling that product. >>> china logs the highest close since the end of april hopes rise for an end to the u.s./china trade war >>> deutsche bank shares also jump as sources tell cnbc the german lender will consider up to 20,000 job cuts as part of a major overhaul >>> and crude extends its gains after iran signs off on a saudi/russian plan to continue production cuts, but some oil ministers are unhappy the decision was made without them >> if opec wants to be alive, should decide inside opec, not to receive their i

willem: nowhere. evenally stable to 2021 because it depends what part of the economy those economists are looking at. if you look at manufacturing, it is very weak and it is good to remain weak for a while. you need quite a substantial trade deal to improve that sentiment. on the other hand, the consumer is quite strong. as we have seen in the labor markets figures last week. so basically, what it means is that central banks in terms of interest rates is too glum. the solution is not there. in the case of the fed, i think that there is no need for the cuts. matt: is there any need for fiscal -- there's so much talk about fiscal stimulus being necessary in europe. it has me starting to think about the times when we used to talk about infrastructure spending in the u.s. we did get a tax cut package. we did not get infrastructure spending there. do you think that that is something you see on the horizon? willem: it is what people are hopeful for. it is a political decision, which is one of those difficul

ago and an admirer of willems' first film"" the man who yell."oo >> mo was veryat branding. he was already mo willems even before he was doing doing his picture books. >> reporter: well he in that in that film. >> yeah. >> reporter:e must mention his name. i don't know how many times. >> not just in that film and everythi he does, he mentions his name over and over and over again. yes, yeah. that was that was just the start. >> oh my goodness! a sheep! th reporter: over the year two collaborated on the cartoon network's short-lived "sheep in the big city." >> when we would look at the ratings, you would get a five. that was the number ple watching it. it was an unpopular show >> reporter: but their show codename kids next door was a hit. willems went on to write for sesame street, for which he won six emmys. the musical poses a different problem. >> how do you take a 40 pageut book a pigeon not beg able to drive a bus and turn it into an hour long musical. >> reporter: stick to a good story for kids, says deborah wicks la puma, who wrote the musi

willems went on to write for sesame street, for which he won six emmys. the musical poses a different problem. >> how do you take a 40 page book abo a pigeon not being able to drive a bus and turn it into an hour long musical. >> reporter: sck to a good story for kids, says deborah wicks la puma, who wrote the music. >> so you can't linger in a moment for the sake of lingerinr in a momenounding beautiful. you know, the kids want to know what the story is ind what's happ >> reporter: willems' as always kept the child's point of view front and center. >> childhood is inherently unpleasant. nothing is to your scale. right. the chairs, these chairs are saying.th 're giant. they're saying you don't belong here. you really shouldn't even beg sittre. right. and everything is big because right.n't know you're new. and the grownups, they take you out of situations like if you're doing something and you're having fun, some giant pair of hands grabs you and picks you up and puts you in another room and you get in trouble for complaining? >> reporter: from beethoven

willem: a mixed message. a lot of yo-yoing going on in politics, so you need to look at the data rather than trying to speculate on politics. the data is still continuing to point to a slowdown in manufacturing and investment with a relatively healthy consumer. anna: good morning. i have a chart here tapping into what you just said, about a slowdown in investment. nondefense u.s. capital goods orders. according to one indicator released, suggesting some sort of recession could be around the corner. is it this kind of indicator, this appetite for investment by to,, to tellu look you how much of the global slowdown will stick to the u.s.? willem: indeed, there is a slowdown in the u.s. as well. but because the consumer is resilient, and there's relatively little reduction of unemployment going on, in part it is because companies are, they know that if they fire somebody,, it will be difficult to rehire them given that the labor market is tight. with the consumer strong, it is hard to see the u.s. economy going

wow, all right >> but willem. i mean, you can see this -- i mean - >> seth: yeah, willem is -- i mean, that is insane >> willem is very, very impressive and also his little pipe that -- he's doing every single scene smoking that pipe. and it's a clay pipe with -- i don't know what was inside it, but the skill involved i mean, willem had practiced that he's doing these massive monologues with a pipe in his mouth. and he's keeping it, like, scene after scene after scene. i was so impressed by it and it was disgusting. i did one scene where i tried it it's unbearable. you can not stop coughing the whole time [ laughter ] but, yeah. but, yeah, the mustache, it's one of my greatest achievements. [ laughter ] >> seth: willem told us that some of your co-stars were these, really, i'm not exaggerating, excellent seagull actors >> mm-hm >> seth: but there was a scene where you -- it's obviously a puppet in the scene, but you kill a seagull cause you -- this is sort of about two guys losing their minds. >> yeah. >> seth: an

the french government will hold a 15% stake in renault now willem is in tourin. he has been covering the european elections and now we have this news for italy's all important fiat chrysler. willem, what more can you tell us about the italian government's likely position when it comes to a deal between renault and if i at chrysler >> julia, it is the center of a big in the city. in terms of the reaction so nar not a lot of items are off the table. this morning the economic brain trust of the lega party and he's in the lower half of parliament, he's speaking to the italian tv station and he says the italian government wants to see a symmetry if they have a stake in ren nault, they want to see they have discussion over the future. the force of leg gas he was talking about that and what that meant for fiat. >> although the additional disness mig-- businesses might e been saved that will no doubt be front and center as they go into these merger talks we'll no doubt get more comments from some of these people over the coming days. it seems to have served lega well get

good morning, willem yes, that's right. so i sat down with rose mcgowan who of course is one of the leading voices to come out in 2017 with alleged allegations against harvey weinstein and of course the metoo movement then went viral in 2017. although it had been started earlier. so i asked her if she felt that the movement has had any impact. >> i'm always confused a little bit when the media calls it a movement because it made it -- i think it was a media thing that scared people, that made it seem like there's thousands of women in the street with pitch forks running after men, but that's really not the case. i have not seen any women in the streets with pitch forks recently, you know and for me it was just metoo is simply a shorthand to discuss something that was previously not able to really be publicly discussed. did this happen to you me, too. that's literally all sit the rest of it is just pressing a button on societal reset, which i think we definitely need to do and have done. and that's where i see it going. peop

willem: exactly. looking at which countries we have stabilization or improvement of the balances, countries with inflation coming down. china,e out with brazil, and tunisia on top, i would say. tom: in the equity markets today, we will look at domestic multi-cap nationals. do you buy shares today? do you wait it out? the normal reaction is to buy the big stuff. yes, i would say more quality and resilience. thes interesting to see shares that have been doing well. price -- when we had inflation over the last few months, the shares have been doing well are a cyclical, quality stocks. when you have a correction, more worries, the message is reinforced. tom: i want to go to break. there are any charts to show the fragility. this is the global litmus paper. this is the japanese yen. we are breaking down over the next hour and a half. the yen still holding onto support. we will see as the morning continues. stay with us. this is bloomberg. ♪ ♪ >> this is numbered surveillance. you are looking at live pi

i think willem dafoe‘s performance is terrific, there was mohammeds i did believe he was the artist, schnabel is interesting because what he has done there is things like the diving bell and the butterfly. the first, so he has done biographies because he is an artist who turned to film—making, i think there are occasions when the drama meanders a bit, when it becomes a series of conversations that kind of attempt to explain how it is that the artist is seeing the world, but at its best it is, a film, a cinematic experience and i think you saw from that clip schnabel is trying to put you in the mind of the artist and say this is how he saw the world. not entirely successful but it's a good try. a good try. there you go, that is the verdict. best out? i love us. the new film from jordan peel who made get out it is like the new film from jordan peele who made get out it is like a chiller, a horrorfilm, there are moments of it that are scary, it is funny it is a modern day parody of a family terrified by doppelgangers. very interesting film about the defection to the west and very well

. >> i'm willem marx, these your headlines. >> the shanghai composite ends at highest level since june, 2018, and posts biggest one-day game in roughly 3 1/2 years after president trump delays a tariff hike on chinese goods. >>> autos and basic resources leave europe higher amid u.s. and china will soon clinch a trade deal. >>> pharma deal makes a bid to by u.s.-therapeutics >>> and warren buffett is looking for big deals. the oracle of omaha says he's looking for a elephant sized acquisition but warns prices are too high we hear from the them himself at 12 central european time ♪ >>> well, it has been an incredible overnight session in the asian markets on the back of that news that president trump will delay the march 1 deadline for hiking tariffs the shanghai composite up 5.6% very, very serious gains and one statistic i want to throw out there for you, net flows into the shanghai and shenzhen markets as of friday topped 110 billion more than three times that in the first two months of 2018, so huge inflows into the china markets around the u.s./china trade news. >> all this on th

. >> i'm willem marx both in london happy monday here your headlines. >> sterling surges to a seven-month high against the dollar in a two and a half year peak against the euro as a new poll suggests the conservative's lead over labour has extended. >>> hundreds of thousands flood the streets of hong kong has protesters peacefully mark six months of anti-government demonstrations in the chinese territory. >>> france braces for a fifth-day of nationwide strikes against pension reforms adds the government seeks to calm fears but push ahead with an overall of the system. >>> and checking out tesco trades near the top of the stock 600 as the retailers considers a move that could generate $9 billion. ♪ >>> well, a very warm welcome to "street signs" this morning. let's kick off with a look at fx markets because we have seen a pretty strong move higher in the pound. you can see here trading around 131.59 sterling has hit a seven-month high against the dollar after a opinion pollex the ended their lead over the labour party the british currency hit a two and a half year high against the euro v

i'm willem marx. >> i'm joumanna bercetche. these are your headlines unilever in the red after sales miss expectations in the first half the ceo warns consumer growth is falling short in certain categories >> one of our hot spots, to be blunt, one or two markets we're struggling in hair care and our black take business has underperformed we think those are good markets for the future. >>> an inbev beats second quarter forecasts as beer sales grow at their fastest pace in five years diageo's ceo tells cnbc a taste for gin is boosting performance. >> a lot of that growth is coming in the early evening occasion from -- i'll call it boring wine an boring beer an beautifully served tangaray and tonics have a lot of space to play. >>> nokia shares set for their best day in 17 months after beating forecasts in the second quarter on super charged 5g sales. >>> german business confidence hits its lowest level since april of 2013 as the ifo warns of turbulent times ahead for europe's biggest economy >>> it's a big day for european macro

willem: certainly no hikes. alix: so just on pause? willem: the fed is totally data-driven. at the moment, our view is that the most likely outcome is no cuts this year, but it is certainly more likely to have one or two cuts than any hikes, which is really off the table completely. alix: always a pleasure. thank. is good to get your -- thank you. it is always good to get your thoughts. david: we are watching a live shot in hong kong. there's not the violence there was earlier, but still people in the streets. we will talk about the situation and how it could weigh on financial health. this is bloomberg. ♪ viviana: this is "bloomberg daybreak." coming up in the next hour, jason mudrick,-- mudrick capital cio. alix: we're looking at live video of the protests in hong kong. chief executive carrie lam says she feels no guilt over the handling of the extradition bill , and "after this incident, we will do better." not sure what that actually means. david: some people saying they should have explained it better initially. the protests are demanding that they withdraw the bill a

so this is willem dafoe, oscar—nominated willem dafoe — as we discovered recently, pronounces name with dutch g van gogh, towards the later period of his life... is that how it... i went to the museum in amsterdam, i said to somebody van gogh or van gogh and they said neither, pronounces name with dutch g, van gogh? in the film, they mispronounce it. laughs so we get his real life and his tussles with madness and with incarceration but also julian schnabel is attempting to show us the world that he saw through his paintings visually represented. here's a clip. i'm telling you, you have to look inside. you keep saying look inside, i get it, i do. you keep repeating yourself. what do you think i'm doing? i don't invent the picture. i don't need to invent the picture. i find it already in nature. ijust have to free it. alright. i'm just saying first think about your surface and how the paint will sit on it. get control over what you're doing. maybe you should work inside more. i spent all my life alone in a room. i need to go out and work, to forget myself. i want to be out of control. i n

theresa may says she is willing to step down just to get a deal passed willem marks is live in london with the latest on brexit for you. >> so we've seen twice theresa may's version of brexit be defeated in a parliamentary vote she's trying to get it through third time lucky, and as part of that process, she met with lawmakers from her conservative party yesterday afternoon, and under pressure said that she would not leave the next round of negotiations between the u.k. and the e.u. so long as they decided to vote for her deal she needs 75 lawmakers to swing around and back that deal. we saw about a dozen of them in the wake of that meeting saying they would do so for them a small irish party, the democratic -- who have always helped prop up her government they came out publicly and said irregardless of her decision and her offer, they would not be back in the deal it seems like it could still be dead in the water. we could find out tonight if they will see that third vote on her deal tomorrow, and in the meanwhile, the alternatives to her deal, a whole gambit, 50 shades of grey, as i

i'm julianna tattlebalm. >> i'm willem marks. "worldwide exchange" coming up right about now. ♪ most of us don't know how much data we use... ...but we all know we're paying too much for it. enter xfinity mobile. america's best lte with the most wifi hotspots. combined for the first time. when you're near an xfinity hotspot, you're connected to wifi, saving on data. when you're not, you pay for data one gig at a time. use a little, pay a little. use a lot, just switch to unlimited. get $250 back when you buy a new samsung galaxy. call, visit or click today. >>> the major threat from president trump topping your five at 5 this morning the president warning of, quote, the official end of iran if they want a war what will iran do in response? the market mostly shrugging it off. the saber-rattling so what does matter to stocks right now? we'll dig in oil prices are on the move you have that and opec ministers, their allies wrapping up a big meeting in saudi arabia we will take you there live. >>> google hanging up on huawei. we'll

. >> and i'm willem marx. >> goldman sachs warns the trade war has raised the risk of a u.s. recession >>> ams sees the light it launches a 4.3 billion euro offer for lighting manufacturer osram and kicks off a bidding war with bane and carlisle >>> the search is over abb shares get a boost as ceo bjorn prepares to assume the top job taking over from acting ceo peter in march. >>> campaigning from the cabana. takes to the beaches of italy to push his snap election agenda but denies he'll run an ant anti-euro ticket. >> persian gulf shipping lanes as well. we'll take you aboard the uss abraham lincoln to find out what they're doing to deter teheran >>> well, good morning, everybody. we're starting the week with a positive tone. you can see right behind me broadly speaking we're actually up in the green. now, remember last week was an extremely volatile week. by the end of the week we had wall street indexes all three close in the red for the week, although much up from the lows asian equities as well europe, all the action on friday was on the italian index ftse mirks b was do

marx is in brussels willem, over to you first. tell us what exactly just happened >> both the uk and the european commission say they have agreed to terms of a deal this will be hundreds of legal text much of it similar to the deal theresa may agreed some years ago with some changes when it comes to the detail around the irish border that we talked about earlier. leaders will arrive here in about an hour's time they'll have a chance to hear from boris johnson and then he'll leave the room and they'll discuss it they'll see whether boris johnson will be able to find a majority that small irish party is not happy with this deal he has relied on them. it will now mean if they are not happy with this deal, they'll have to rely on their own parties. many of them saying to me and others they'd like to see a second referendum attached to this deal. >> willem marx with the latest taking it over to you. we've been dealing with brexit headlines for three years now. give us your first take. you saw the headlines. is this something you can fe

he says he will take a do or die approach to brexit willem joins us from downing street willem, what will be the most pressing challenges for the new prime minister >> we have seen some ministers arriving we've seen so many of them competing to become the next conservative leader and prime minister we're down to the final two. we'll know the answer in the next hour and a half or so as you mentioned already, we're widely expecting boris johnson to be named as the new leader. in terms of what he'll face, almost from day one the big challenge will be a died conservative party there's been polarization over brexit for the last six or seven months, that's gotten worse and worse. coming into this week, we had a number of high profile resignation announcements from theresa may's group saying they will resign. he has a tiny majority inside the house of commons that hampered theresa may time and time again as she tried to push her negotiation greed agret through the house of commons, that will not change for boris johnson. it will be incredibly difficult for him to get the majority number he

willem >> continuing our conversations about equities, we're joined at the table. the f&p numbers were surprisingly good. how are you advising clients about the apparent disconnect between these historically strong economic fundamentals we're seeing in the u.s. and the continued concerns a lot of market participants have about the future performance of some of these asset classes in the united states? >> that was the actual central theme of our outlook for 2019, american preeminence in a rattled world. we're where they like them to be unemployment is low and stable inflation low and stable, but the sentiment, the survey data is going up and down around that data for quite some time there's two time rises looking for us a year or so out, strategic time rise five, ten years out that way as far as tactic goes, if the markets do set off based on some of these rattled themes, based on lower sentiment, we're looking to add equities and taking profits recently because the market has come back to where it was in december long-term perspective, comes to how much stocks vers

i'm julianna tatelbaum >> i'm willem marx the u.s. moves higher. president trump cancels his trip to the world economic forum in davos, he might miss an opportunity to discuss trade with china >> u.k. home builders jumped after bank of america, merrill lynch upgrades the sector from neutral to under perform >> chinese automaker tells cnbc it's not sold any shares in germany's daimler after a report the company had cut its stake by more than half >> federal reserve chairman jerome powell affirms the central bank's patient stance, but warns about the growing level of u.s. debt >> the the long run fiscal nonsustainability of the u.s. federal government isn't really something that plays into the next, you know, the sort of medium term that is relevant for our policy decisions >> european markets have been open now for just over an hour and it is shaping up to be a positive start to trade for the final day of the week. the euro stoxx 600 is up about 30 basis points right now. this follows a fairly mixed day yesterday in terms of the different regions, b

willem is there in romania and has been monitoring the developments willem, my understanding is they'll be spelling out an agenda for the next five years, but, of course, with only a couple of weeks away from the european election, so how does that square off? >> it's an important issue that they will be discussing facing the entire european union is what happens in these elections and whether the dwo parties that have long been dominant inside the european parliament, including the european people party, whether they can maintain their dominance in face-off what has been a clear move amongst some countries towards pop lichl in terms of the electorate we're going to see over the course of today, i expect, conversations around what they hope to do over the next five years with the new commission as well as what they might try and do in the more near-term before the current commission under jean claude juncker one will be trying to strike a trade deal with the united states or at least reach some kind of skeletal agreement with the united states before the end of october when this current

tonight -- willem dafoe star of "mrs. fletcher," actress kathryn hahn music from a$ap ferg featuring the 8g band with terence higgins. ♪ [ cheers and applause ladies and gentlemen, seth meyers. >> seth: good evening. i'm seth meyers. this is "late night. how's everybody doing tonight? [ cheers and applause that is fantastic to hear. in that case, let's get to the news congressman tim ryan announced this afternoon that he is dropping out of the presidential race, an announcement that sent shockwaves through the rest of the elevator [ laughter ] senator amy klobuchar has released a new campaign ad calling president trump a, quote, "whiner in the white house," and trump will have a great comeback as soon as he finds something that rhymes with klobuchar. [ laughter ] "motor car russian czar myanmar. is that a good one?" [ laughter ] according to new survey, 99% of white evangelicals oppose impeaching president trump "jesus," said jesus. [ laughter ] "what does this guy got to do? [ cheers and applause mayor pete buttigieg y

i think willem has more. >> dialogue semiconductor one of those shares it posted a 2% rise in fourth quarter operating profit and expects to fall in 2019. the angelo-german chip maker posts a single dip after it reduces its exposure to apple, which makes up about three-quarters of its revenue. when the company made the agreement in october, dialogue predicted 2019 revenues would be flat shares have rallied as analysts shared the company's evolving business model >>> life insurance legal in general has posted a 10% rise. it cited record annual sales of annuiti annuities. earlier this morning ceo nigel wilson told cnbc that investors are too focused on short-term results. >> we've taken the view that we will invest for growth i think too many people still focus on short-term earnings, particularly quarterly earnings. we're trying to discourage companies from doing that. you know, we would like if we dropped quarterly earnings reporting for all companies, both here and in the united states, because it will just make everybody think much more about the longer term and as long-term invest

i'm willem marx. >> i'm joumanna bercetche. these are your headlines this morning. >>> european equities search for direction after a torrid day for global markets that saw the dow plunge 800 points. >>> president trump slams the fed and blames jay powell for rising fears of a recession after the u.s. two-year and ten-year yield curve inverts. >>> chinese stocks rebound as trump links a trade deal with beijing to protests in hong kong and suggests a personal meeting with xi jinping to discuss the ongoing crisis >>> carlsberg shares are at a fresh all-time high after the beermaker reports strong first half growth in asia and smashes ebit expectations. we'll speak to the ceo at 11:00 cet. >>> some uk retail sales, not great, not terrible. up 0.2% for the month. up against june's number of 0.9% better than the expectation of negative 0.2 so they've increased july retail sales for the year up 3.3%. not quite as good as the june number of 3.8, but it is again better sthan tthan the expectedr the july retail sales 2 -- ex-fuel, 2.2%.

maria: willem buiter at city this weekend. when we come back? looking at the greendale as well as china next. live from the starlite lounge. ♪ one plus one equals too little too late ♪ ♪ a sock-a-bam-boom ♪ who's in the room? ♪ love is dangerous ♪ but driving safe means you pay less ♪ ♪ switch and save ♪ yes, ma'am excuse me, miss. ♪ does this heart belong to you? ♪ ♪ would you like it anyway? [ scatting ] ♪ would you like it anyway? a business owner always goes beyond what people expect. that's why we built the nation's largest gig-speed network along with complete reliability. then went beyond. beyond clumsy dials-in's and pins. to one-touch conference calls. beyond traditional tv. to tv on any device. beyond low-res surveillance video. to crystal clear hd video monitoring from anywhere. gig-fueled apps that exceed expectations. comcast business. beyond fast. patients that i see about dry mouth. they feel that they have to drink a lot of water. medications seem to be the number one cause for dry mouth. i like to recom

i'm willem marx. >> i'm julianna tatelbaum. >> mike pence says the u.s. will no longer yield to china but hopes for a sweeping deal. >> the era of economic surrender is over. for too long, one administration or another, republican and democrat, were willing to accept extraordinary disadvantages to american workers and american jobs in the name of trade with china. >>> billionaire investor tells cnbc the fed is, quote, screwing savers and says donald trump is wrong to attack the central bank >> the president is doing a lot of damage with all of this assault of the fed i wrote down yesterday when the fed cut rates, i said consumer confidence is up, retail sales are strong, employment is strong, consumer network is at record levels. economy is growing at trend. >> aing negative rates delivers a contentious issue and warns about ultraloose policy. >> it is a strange thing it doesn't fit in any textbook i ever read. >> treasuries trading negative is the most absurd thing treasury has ever done >> sterling hits a two-month high after juncker says a brexit deal

maria: willem buiter at city this weekend. when we come back? looking at the greendale as well as china next. treating advanced lung cancer. treatments like keytruda with chemotherapy really break through barriers that we had not too many years ago. (avo) another tru story with keytruda. in a clinical trial, significantly more patients lived longer and saw their tumors shrink than on chemotherapy alone. (dr. kloecker) it's changed my approach to treating patients. (avo) keytruda may be used with certain chemotherapies as your first treatment if you have advanced nonsquamous, non-small cell lung cancer and you do not have an abnormal "egfr" or "alk" gene. keytruda helps your immune system fight cancer, but can also cause your immune system to attack healthy parts of your body. this can happen during or after treatment and may be severe and lead to death. see your doctor right away if you have new or worse cough, chest pain, shortness of breath, diarrhea, severe stomach pain or tenderness, nausea or vomiting, rapid heartbeat, increased hunger or t

willem: we see a little bit of strength. when we compose a bond portfolio for our clients, you automatically end up in the u.s. dollar space. you do not end up in the euro space because it is too low. the consumers -- i think that is what the picture will show. the consumer might have picked a little bit in terms of sentiment, -- might have peaked a little bit in terms of sentiment, but it is still weaker. tom: i want to go to getting to january 15. one of the things the pros do is ignore the holiday and get onto the beginning of the year. sels, what is the to do list as we frame for january 15? in 2020,e think that the u.s. will remain our favorite market. we are positioned in really the growth sectors and in technology and in the longer-term trends, because again, from a cyclical perspective, it is difficult -- you need to weigh the relatively low growth outlook against a potential bottoming. it is both a level and the direction that are important. so people still -- i think in 2020 people will feel much more comfortable w

willem holleeder has been a household name in the netherlands for all the wrong reasons for decades, starting back in the 1980s when he kidnapped beer tycoon freddy heineken. our correspondent in the hague, anna holligan, has been following the case for much of that time. and over, the years one thing that happened was the story inevitably got made into a film. let me play you a bit of one of her old reports, this is from six years ago, but it's good background into the story being told. a fictional adaptation of a real—life crime. willem holleeder is working as is one of the most powerful and influential figures in the dutch crime world. apparently makes the perfect terminal. he has this already around him of being almost untouchable. we are attracted by people that do things like that. one way or another, we think they are exciting. this is the abandoned warehouse where they imprisoned the beer magnet freddy heineken and his chauffeur. willem holleeder took the film, the to court to try and stop his actions from being adapted for the big screen. in the movie, there's a scene with

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maria: willem buiter at city this weekend. when we come back? looking at the greendale as well as china next. -their béarnaise sauce here is the best in town. [ soft piano music playing ] mm, uh, what do you do for fun? -not this. ♪ -oh, what am i into? mostly progressive's name your price tool. helps people find coverage options based on their budget. flo has it, i want it, it's a whole thing, and she's right there. -yeah, she's my ride. this date's lame. he has pics of you on his phone. -they're very tasteful. maria: welcome back. you've heard a lot about the green new deal. it seems a left new big idea turns out it comes with an equally really big bill. according to a study by the american action form the plan to combat climate change and income inequality will setback taxpayers $93 trillion. it is $600,000 per household. joining me another co-author behind that study, the american action form president and former director, douglas holtz aiken. >> thank you for having me on. maria: i think this study made a lot of waves. people knew it wou

-china optimism in the air around trade, autos still lagging so far today willem >> thank you, jielana. britain's attorney general jeffrey cox will accompany the brexit secretary steven barclay for new talks with e.u. officials in brussels today. the british gm continues to press for legally biebding guarantees over the irish backstop prime minister theresa may, as you may well know, believes this could be key for parliament to approve her withdrawal deal. may's promise, though, a meaningful vote on that deal by the 12th of march. the signals from the european union are reasonably positive. he said the e.u. is beginning to realize that may can get a majority for her deal in parliament, but warned britain cannot be "trapped" in a customs union. do investors need to sit on their hands and wait for the theet ricks to play out? >> i think that's right. we are holding that, and not least manufacturing who are looking for some sort of certainty have made plans for uncertainty. i think that mrs. may who already knows she's -- she's behaving really like a schoolteacher here rather das adviser

i'm willem marx in london. these are your headlines falling out of fashion kering shares fall after missing second quarter estimates with lower sales in the united states. >>> vodafone stock is planning to spin off its european tire business and services beat forecasts in the first quarter. >>> amazon's second quarter misses on the bottom line as its profit streak comes to an end sending shares lower in extended trade. >>> don't miss our interview with renault's ceo as the french carmaker cuts its full-year sales guidance on a degradation in demand. >>> no clear direction so far in european markets after that key announcement from the ecb about forward guidance, the introduction of quantitative easing down the road and what seems to be an almost certain rate cut in september in terms of the individual markets across europe, though, you can see the four major indices in europe are trading slightly higher. the ftse 100 in london about a fifth of a percent higher. similar story in germany we have huge amount of ea

let's get out to willem marks with the latest developments what's the new date, willem? >> theresa may wanted an extension until the 30th of june that's the day before if you don't get it through next week, you need to come back to us or the british government of theresa may needs to come back to us and say what they do want instead and that would very likely lead to a much longer extension unless the u.k., for whatever reason, decided that a hard brexit was in order here's how donald tuss, the man that shared the seven and a half hours of conversation last night, approximate ut it once those agreements had been struck >> the u.k. government will still have a choice of a deal, whole deal, a long extension, or revoking article 50. the 12th of april is a key date in terms of the u.k. deciding whether to hold yourp even parliament elections if it has not decided to do so by then, the option of a long extension will automatically become impossible. what it means means is for theresa may -- no certainty she will get her deal through, but a huge amount of union nimty from euro

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maria: willem buiter at city this weekend. when we come back? looking at the greendale as well as china next. -their béarnaise sauce here is the best in town. [ soft piano music playing ] mm, uh, what do you do for fun? -not this. ♪ -oh, what am i into? mostly progressive's name your price tool. helps people find coverage options based on their budget. flo has it, i want it, it's a whole thing, and she's right there. -yeah, she's my ride. this date's lame. he has pics of you on his phone. -they're very tasteful. he has pics of you on his phone. they feel like they have to drink a lot of water. patients that i see that complain about dry mouth, medications seem to be the number one cause for dry mouth. dry mouth can cause increased cavities, bad breath, oral irritation. i like to recommend biotene. biotene has a full array of products that replenishes the moisture in your mouth. biotene definitely works. it makes patients so much happier. maria: welcome back. you've heard a lot about the green new deal. it seems a left new big idea turns out i

as you can see, it's a negative start to the week for european equities willem ♪ >>> well, the online supermarket ocado is in talks to deliver its groceries, according to multiple media reports. the financial times described the discussions as being early stage and reports those discussions may not end in a deal but a technology tie-up between the two firms could see ocado's deal with waitress come to an end after a 20-year relationship you'll remember at the time they invested in ocado as this new concept in the uk when it came to groceries you have these two names being almost synonymous in the retail space and yet if you listen to some of the accounts from ocado founders one spoke to the guardian, the partnership had been a pain in the ass to use his own words to deal with so in some ways this may not be a surprise to those following this closely. >> at the end of the day it shows no to be a big player in the retail space, you have to be the logistical capacities as well ocado is valued like a tech company. it is not valued like a grocery store or like another supermarket and comit

willem, how much have events limited the government's room for maneuver >> reporter: certainly, janelle la, what it's done is take control away from the timetable. this amendment that passed with 17 conservative votes in favor of it yesterday essentially limits the time available to the prime minister and their advisors to come back if the vote next week goes against us with an alternative plan originally it was going to be 21 days, the utmost limit now it's three days of parliament sat in the house of commons behind me. to make sense of why that may or may not be significant, i'm joined by georgeanna wright. with that amendment put forward passing the house yesterday, why does that matter >> it matters because it gives parliament and greater role. essentially the message from parliament is we don't trust you. we don't trust that you're going to be able to deliver a plan and actually we're running out of time and, therefore, you need to present something within three days and we might have a week of parliamentary hearings and discussions, but you need to get your act together. >> the br

we have the wto ruling that we'll talk about in a little while from brussels when we speak to willem. banks recovering somewhat up about half a percentage point as well we are seeing some of the cyclicals do well this morning but of course the trade sensitive sectors are underperforming. >>> now, chicago fed president charles evans told cnbc market injections are a useful tool coming at a challenging time and he's open minded about the path of interest rates. you just spoke with mr. evans. what would you say are some of the highlights of that interview. >> well, actually we started off to talk about repo rates and the reasons behind them are not entirely clear as of yet i mean, loads of people are siting technical reasons, and that is what i asked him as well, what his explanation is actually for that very unusual volatility in the repo markets whand the fed is planning remedying potential spike again in the future. take a listen. >> the new york fed put together a very strong program to offer repos daily, offer term repos over the quarter end and i think it's effective i think this i

willem, really interesting give a little insight. it's all chatham house rules here i can tell you that my next guest says lawrence boon just gave a presentation to the great and good of amber springing forward. actually, she got a really strong applause for the message she was talking about now. we're not going to detail what she said safe to say, the man who told me that she went down very well here former italian prime minister, of course, and dean of sciences at the university, so thank you very much, indeed, for joining us >> thank you >> the message i got from lawrence boone was there are deep structural issues, there are disparties between the north and the south of the country stark as ever. long before the financial crisis and that there are lots of things to worry about as far as it is concerned as well. do you share those concerns. good morning to you. >> yes there's a big problem for italy and the big problem for italy is a lack of investment the deterioration of the public finance situation, so i think it's a warrant sit