francine: welcome back. profits almost tripled. this, on cost-cutting and improved waste treatment. we are joined by the ceo. he is joining us from paris. you are firing on all cylinders and doing very well. >> good morning. for sure, we are advanced of our objectives on the net result and the free cash flow. we will beat our objectives. it is too early to tell you how much we will beat them. we are confident we will beat them. it is a bit too early to set new objectives. we set this guidance at least 500 million euros for net result and 500 million euros for free cash. francine: you could be the financial targets -- you could beat the financial targets? antoine: i could not tell how much we would beat them. i could not tell you if it were 50 or 100. we are in advance. even for free cash, we reach the goal. i could not tell you where we will be at the end of the year. for sure, they will be beaten. francine: if you are sure you will beat these figures, when will you update the markets? two or three months? w

i'm francine lacqua. manus: angela merkel says she is confident the international monetary fund will contribute to greece's third bailout. francine: thursday, they will let on the package, the day before grace has to make a payment to the ecb. manus: angela merkel said she would consider debt relief to make it happen. with regards of extension of maturities, the setting of the interest rates, we have room for maneuver. just like we had in previous times, we move forward the repayment rates. is always possible to do something else. there's a clear statement that the eurozone cannot allow another haircut, a debt cut. francine: let's speak to harm nichols in berlin. we also spoke to michael fuchs, a lawmaker. lawmakers might not go for it. hans: unclear how the imf is or paying for it. there needs to be debt relief. in the interview with mr. fuchs, a key merkel deputy, he seems to suggest that some back channel between the imf and wolfgang schaeuble, the finance minister. assuret that is able to members of t

francine: thank you. a great interview with mr. emmanuel macron. manus: the greek gdp rose by as someone just pointed out on twitter, that beat the u.k. for the second quarter. unadjusted gdp rose 1.7% from a year ago. the country faces the prospect of back-to-back election campaigns unless there is an outright majority of next month's snap vote. the river party had an exclusive interview with bloomberg. >> we should not be having a elections. the government could have try to solve problems first in september, october, and november, and then had elections. a great interview. tell us this, where are we in hass of alexis tsipras, he made noises about a grand coalition but not wanting to be prime minister. how do we start the journey to the next set of elections? the first thing is a fatigue among voters. they seek a prime minister. began, we wills also see the ninth finance 2010.er since a report published today in a newspaper showed that 64% of greece disagree with alexis to hold a snapon election next mon

francine: thank you. coming up, he he got more airtime than any other candidate in last night's presidential debate in trash the current administration. we will be talking trump and the rest of the republican field when we come back. ♪ ♪ francine: welcome back to "the pulse." live from bloomberg's european headquarters in london i am francine lacqua. the bank of japan has held off from expanding monetary stimulus. the world's biggest economy will emerge from a recent soft patch and inflation will pick up. increasing its case it ¥82 is expected by all 30 seven economists surveyed by bloomberg. 17 presidential hopefuls face their first test. theld trump has upended race with controversial comments about war heroes and mexicans. he was central stage. the u.s. jobs report is out later today. 1:30 u.k. time. employers are projected to have jobs in july.00 it comes as policymakers are expressing the importance of the job market in raising rates. jon: the market is treading water and ahead of the big job st

francine: let's hope they do. head of our bloomberg billionaires team get manus: up next, sleeping on the job literally. new research suggests a nap at work is beneficial. we are going to take a look at the best way to have a snooze in the office. francine: but we will stay awake. ♪ francine: welcome back to "the tvse" live on bloomberg and radio. manus: despite research isgesting that a midday annap beneficial. taking one is a social challenge. rebecca greenfield has break the taboo to determine whether sleeping on the job is acceptable. a lot of research has come out this has napping in the middle of the workday makes us more alert and focused and more productive employees. i'm going to see if it is realistic to nap on the job. desks are not the most quotable places to sleep. this nap gadget industry has cropped up. i've ordered four nap helpers to myp me nap-simize workday. that is a phrase i learned online. first up is a device called the wrap a nap. a pillow, blindfold and earmuffs that wraps around your fa

francine? francine: austria, estonia, spain, all passed the bailout yesterday leaving three votes including the netherlands. anna: yeah, the netherlands one is interesting. they said they were not giving one more cent to greece. 5 billion will be their share of the bailout. the far right wing, say that i had they are going to call a vote of no confidence. he obstacle has 12 votes and 150 seats. there could be a before urp in the netherlands but it is probably not going lead to collapse of the government. what happens in the coming weeks in athens . will syriza face its own crisis when they have that conference at the on the other hand september and will there be fresh elections in athens, in greece as well and who'll lead whatever government comes out of that? francine? francine: thank you. hans nichols with the latest. we're joined with erik nielsen. you on the program. do you feel -- this is about subteties. it is about subteties when you look at the language from german politicians. it seeme

francine: thank you. up next, egypt opened its expansion of the suez canal, we look at the numbers involved next. ♪ francine: welcome back to "the pulse." here are the top headlines. adidas failed to hit the back of the net with profit. the ceo is wearing money into marketing in attempt to close the sales gap with nike. hiroshima is marking the anniversary of the atomic bomb attack. caroline kennedy was there with around 100 world leaders. bells ring out at 8:15 local time. a trial of a man who organized a killing has been adjourned. he is charged with failing to prevent an unlawful hunt. he says he did not do anything wrong. cecil was a protected lion prosecutors say he was lured out of the safe area to allow the dentist to shoot him. cecil was seriously wounded by an arrow and finished off with a gun. a $8.2 million expansion to the u.s. canal was completed. the project has been completed two years ahead of schedule. >> it is one of the most important trade routes in the world 150 years after it first

francine: too relaxed? if you look at what the fed will do, the big unknown is what happens afterwards. they said everything will be gradual but if the unemployment numbers get better, we could be looking for steeper. kevin: no sign of inflation on the rise in the u.s. markets are reacting to any lack of price pressures. if that should change, the fed has to take a more aggressive stance. that is where the market gets caught run credit. -- caught wrongfooted. that is where you see stronger outflows from emerging markets. goes back to 2013 when we had a taper tantrum. markets were not expecting that. emerging market debt sold off sharply over two months. we are not envisioning a similar scenario given where we are with the fed. manus: if you look at china, there's a friday of things to be concerned about. one. is the implosion in commodity prices two is the implosion in growth. how does china bear in terms of contagion for the emerging markets. who are the most successful -- susceptible to china in em? kevin

francine: i am francine lacqua. this is "the pulse," live from london. manus: global selloff deepening, plunged thees have most since 2007 and european markets in the red. francine: commodity prices have sunk to a 16 year low. manus: let's get to market moves with caroline hyde. crushed lowerties and volatility higher. selloff across the board. the dax close to a bear market. these levels, more than 20% of previous highs. barren when it comes to green, everything in the red. rwe, deutsche bank concerned about, global growth. this will be hitting miners. cac, not one single riser. miners on the downside. ftse 100 and correction territory. we are seeing the world's billiton,ner, bhp leading the charge lower. seeing the pain in the equity market in europe. spilling over from asia. some phenomenon moves in terms of the shanghai exchange, worst day for attorney stock since 2007. a sea of red when it comes to the emerging markets. china led the selloff, sparked with a slowdown in growth. the sloth forecast since -- the slowest forecast since 1990. it is the wo

francine: i am francine lacqua. time at ae the first record low. the slump in china and the expectations on the fed. mannus: we trade below $50 on crude. at $45.67the nose wti. on's talk all of the issues commodities. we are joined by our commodities guest, rick hoffman. .- greg hoffman thank you for joining us. where are we in this great debate? china is under a great deal of pressure. i just spoke to a cfo who said it has been a bit of a right, but getting things lower -- it will be a tough one. it depends on the metal you are talking about. the debate if china is in a mess is known. they have a lot of problems. in chinad for copper is down. the miners have not react this. the downside, you have to go to how much does it cost them to produce, and if they lose, will they shut down mines? they have not shut down mines, that is why prices continue to fall. francine: do we know when there will be stability in china? can you shed any light on do that? kenneth: the debate in china is how long the bear market will last. some say, we will clear it out th

francine: i'm francine lacqua. this is "the pulse" live from bloomberg's european headquarters in london. manus: over the course of the next half-hour, we'll be joined by blackrock chief vem strategist. francine: but first the biggest selloff in regional currencies ince 1988. manus: the people's bank of china lowered the rate by 1.6% just one day after cutting it by a record 1.9%. let's find out how the markets are taking it. let's cross over to mark barton. mark: i'm not going to show you . dollar/yuan not an index get to chat about every day. biggest two-day fall since december 31, twen. this is an index that gauges the dollar against 10 main asian currencies. it has fall on the its lowest level since 2009. the last two days, get in there, down by 2.4%. the big question is will policy makers reignite a currency war weaken exchange rates and china is its ng biggest trading partner. investors fleeing the nation's assets. already you're seeing a big impact on asian currencies from the devaluation in the chinese curr

i am francine lacqua. manus: breaking news on the eve of this -- , beatingclimate 108.3 estimates and expectations. and the estimate was for 102. francine: better than expected. if my calculations are right -- and they may be wrong -- part of the survey was done in the first couple days. the for the market rout -- bef ore the market rout. expecting to be lower than estimates because of the china factor. but confidence at 108.3. manus: chinese shares have plunged again. routteepest four-day since 1996. the markets europe, have rebounded. we have more on that with caroline hyde in a moment. we also have richard frost. he is in hong kong. what is behind today's rout? richard: yeah, hi. fairly astonishing day giving the heaven losses -- the heavy losses we had. decline. what appears to have happen is after the government expended so much energy and funds to shore up the market following the rout last month, they seem to have disappeared. heavyat we've seen is losses with some of the largest companies, includin

cranny.s francine: i'm francine lacqua. germany disappointed, france disappointed. overall, that figure is disappointing. manus: euro-dollar is virtually on mood. stagnation in france. spain had the fastest growth in eight years. italy missed as well. francine: it is all about the global outlook. it is probably not greece. it is about china and possibly the fed. we are now joined by our guest. a little bit lower than expected gdp growth. it is no big deal, right? >> we all assess about these quarters. we have a weaker euro. the others were fine. manus: we are going to come back to you. we are going to take a trip around europe. let's move to our reporters and break down the numbers. paris,in rome, frankfurt. let's go to frankfurt first. this was a big miss for the french. break it down in france. miss.was a big it was not with the economist were expecting in the second quarter. the first quarter did look better. you have zero in the second quarter. it means france grew the same as germany did. germany did not do that well either, but germany is the par. if france is

francine: shaken and stirred. day of trading, chinese stocks extends the first five day drop since 2006. manus: stocks follow the decline. indices across the continent are in the red. francine: all bets are on. betfair agreed to merge in the latest consolidation of the gambling industry. welcome to "the pulse" live from bloomberg's european headquarters in london. manus: it is volatility, the word of the day for traders. chinese stocks extended the worst five-day drop since 1996. the marx apparently unconvinced by the peoples bank of china decision to cut markets rate -- the apparently unconvinced. stoxx 60019 -- indices are down here let's cross to our chief asia correspondent. enda, a very good day to you. markets simply unconvinced is the word. enda: unconvinced is exactly right. what the global markets wanted out of china was a circuit breaker. there is a feeling this crisis began in china. dona needed to intervene, to something. it does not look like what they have done has been enough. the central bank will

francine: i'm francine lacqua. this is "the pulse" live from bloomberg's european headquarters in london. in term s of what we're seeing with the figure, very closely watched. current situation, a little bit better than expected. it is the forecast, the expect ations that serious lijund shot what we were expect g. a figure of 31.9. it came in at 25. that for me is a little bit worrying. manus: we seem to have passed over that bridge for now. there is euro. up an eighth on the day. trade g above the median for his quarter. ok. first up, china. mark: but for china it is a big deal. biggest evaluation in 25 years. biggest movement in the yuan. get a look at this chart. this is the shot of the day. this side a one-year chart. china devalues the yuan. this is dollar versus the yuan. look at the spike. i have gone from dollar to yuan rather than yuan/dollar. it would have been an invert of this chart. we would have seen a downward spike. this is the shot investors like to look at. e dollar started the day 6.0297 against

francine: welcome to "the pulse ," l ive in london. i'm francine lacqua. coming up later in the program we speak exclusively to the zalando managing director rubin ritter as his company beat second-quarter sales estimates. francine: after that, we will speak to the rwe chief finance officer. make sure you stay tuned for both these interviews. manus: a rare briefing has been held in china. as the central bank worst to restore calm following the devaluation of the yuan. francine: the currency experience its worst loss in two decades as the people's bank of china says it would intervene. the deputy governor also in charge of the foreign-exchange told the media respects the market, fear the market. he did not mention intervene the market. that is probably what he was thinking in the back of his mind. manus: indeed. and try to get some sort of market context. class test. let's talk to mark. we've seen a little bit of a bounceback. mark: let's start with the dollar-yuan. this is whatever one has been focused on. this is an intraday chrt. -- the chart. the dollar

francine: the u.s. fed president says the rates look less compelling. ♪ francine: welcome to the pulse. live from bloomberg's european headquarters i'm francine lacqua. manus: european markets are ripped up. the are checking the biggest gain in u.s. equities in four years. francine: yes they are. that rally came after a selloff. overnight, china's benchmark index posted a 5% index -- 5% gain. let's get context. mark barton is back in the house. things are wrapping higher. the fed's magic discussion did the job. fedo the -- mark: u.s. caused the big rally in the united states. he spoke yesterday. in an unexpected comment, you have to say, he said from my perspective the decision to begin the normalization process seems less compelling. the keywords sit is desperate keywords -- less compelling. getting close. is the six days that preceded this rally. yesterday, prior to the s&p 500 fell by 11%. it's sunk by 11% yesterday. it rose by 3.9%, biggest 2011ase since november 30, , all because of his comments.

francine: we get the figures in half an hour. welcome to "the pulse." i'm francine lacqua. manus: i'm manus cranny a very good day to you. china's stocks have slumped from the highest level in three weeks. the benchmark index sank6% following concerns that the government will pare back efforts to prop up the equity market. after a drop in interest rates and removal of property restrictions. economics chief asia correspondent is in hong kong. mini rout?ket is this the rerun of a big run? enda: it is early days to tell whether we are going for another. it's certainly a correction. it has come about because we had some good numbers today. we had some data. that is interesting when you consider the big stock markets we had in june. it kind of illustrates perhaps the net effect on wealthy consumer confidence with what -- was much less than people anticipated. we will need to see more durable prices before calling a turn in the housing sector and before calling a turn in the economy. francine: what does it mean for the wider economy? how much can we read into this? enda: one of t

francine: i'm francine lacqua. this is "the pulse" live from bloomberg's european headquarters in london. retail sales in terms of the figure there. i think they were a little bit better than expected. the increase is 1.2% from the year before. manus: it declined -- francine: it is the sales. n certain countries. keep an eye on that number. i don't know if we have a euro/dollar check. f it has any impact on the ro/dollar currently at 108.60. manus: an eighth lower on the day. francine: france's second ggest bank, has posted a profit beating analyst estimates. manus: we spoke to their c.e.o. good morning to you. socgen, they have got a cost savings plan. 850 million euros. that is probably top of the agenda, isn't it? >> absolutely. most of these -- will be the rull of -- enticing some businesses. if you look at the investment bank, great performance in equity trading. plus 61%. sales actually fell 16%. socgen has already implemented a cost saving plan for about three years. they are accelerating this plan for the n

francine: the u.s. fed president says the rates look less compelling. ♪ francine: welcome to the pulse. live from bloomberg's european headquarters i'm francine lacqua. manus:

that is francine's vanguard of the day. jonathan: if you could do one thing this weekend -- that stanley fischer speech, would that be at? manus: stanley fischer's role is to guide forward in terms of the perception of where we are with the fed. the window is closing. don't -- jonathan: manus cranny after the break -- don't miss it. that's it for me, wrapping up an incredibly volatile week. it's almost over. i'm on twitter. best of luck for the final trading day of this crazy, crazy trading week. ♪ francine: the rally continues. u.s.ean, and asian and markets. we discuss extreme market movements. manus: focus on france. exclusive interview the economy minister says he will keep an eye on china slowed down but insists it will not threaten his country's recovery. francine: let the good times roll. data shows consumer confidence at a 15 year high in the u.k.

francine: what is your forecast? 200,000.ays above francine: i think it is going to be better than expected. we are going to look at u.s. jobs. where going to pit them against what we saw against -- what we saw with the bank of england. we are not doing too badly here. in the states, they have a problem. we will look at wage growth. what i really want to talk about his donald trump. jonathan: you're going to do just that with hans nichols. keep it right here on bloomberg tv. that is it for me. i'm looking at equity markets, down 10.1%. we are in the red in europe. if you want to talk about these markets, i am on twitter. best of luck for the rest of your day. have a great weekend here it -- have a great weekend. ♪ francine: jobs day. usa releases its labor report before the federal reserve septum or meeting. media meltdown. disappointing earnings from viacom sparked the biggest selloff for the sector since 2008. >> our leaders are stupid. our politicians are stupid. the mexican government is much smarter, much shar

i'm francine lacqua.

thethan: manus cranny, birthday boy on "levels" with francine lacqua. pulse" with francine lacqua. thursday, it is time for ecb minutes. we will get u.s. retail sales, another big data point. u.s. retail sales have disappointed so far. economists are looking for a pickup. friday, eurozone gdp day. that is it from me. stay with bloomberg tv for those huge interviews with tom keene, including the fed vice chair, stanley fischer. i'm on twitter. best of luck for the rest of your day. ♪ . francine: china stocks surge over speculation the government will merge. manus: doing a deal. greek officials are optimistic. a rescue package will be agreed today. inncine: vilest -- violence estimable. a police station attacked. -- violence in istanbul. manus: one of buffett's biggest. buying be close to precision castparts.

francine from philadelphia, what's your question for dr. may? >> i'm really worried about my husband. he says he's fine, but i know something's wrong with him because he just gets up all night long to go to the bathroom, and when he goes to the bathroom, he's in there forever. he said nothing's wrong because his p.h.-- p.s., whatever you call it, p.s.a.-- is negative, and he just won't talk about it. what should i do? >> francine, you've got to talk to him. understand that it's unlikely that he has cancer. that's what the p.s.a. means. but those symptoms are horrible, and they're interfering with his life and yours, and you've got to persuade him that there is something that can be done and he doesn't have to live with those symptoms. >> this is a perfect example of how it not only affects the man but his loved one too. i can't believe how men just think this is gonna go away. francine, if you're still there, you got to pick up the phone and you got to order this for him, put it down, and make him take it, because it's not gonna only help him, i

francine: welcome to "the pulse

i'm francine lacqua. manus:

francine from philadelphia what's your question for dr. may? >> i'm really worried about my husband. he says he's fine, but i know something's wrong with him because he just gets up all night long to go to the bathroom, and when he goes to the bathroom, he's in there forever. he said nothing's wrong because his p.h.-- p.s., whatever you call it, p.s.a.-- is negative, and he just won't talk about it. what should i do? >> francine, you've got to talk to him. understand that it's unlikely that he has cancer. that's what the p.s.a. means. but those symptoms are horrible, and they're interfering with his life and yours, and you've got to persuade him that there is something that can be done and he doesn't have to live with those symptoms. >> this is a perfect example of how it not only affects the man but his loved one too. i can't believe how men just think this is gonna go away. francine, if you're still there, you got to pick up the phone and you got to order this for him, put it down, and make him take it, because it's not gonna only help him, i

his partner, francine lacqua. i will see you tomorrow. ♪ francine: angela merkel makes the case for a greek dale in her first comments since euro area ministers were agreed on an aid package. manus: abe under pressure. the japanese economy goes negative as consumers and businesses cut spending. francine: and gold loses its shine as the precious metal's price falls. fall.gold sees its profit welcome to "the pulse"

i'm francine lacqua. nine i'm manra

in 15 seconds, manus cranny and francine. best of luck for the rest of the day. ♪ this is a great place to work. not because they have yoga meetings and a juice bar. because they're getting comcast business internet. comcast business offers convenient installation appointments that work around your schedule. and it takes- done. - about an hour. get reliable internet that's up to five times faster than dsl from the phone company. call 800-501-6000 to switch today. perks are nice. but the best thing you can give your business is comcast business. comcast business. built for business. francine: of the equities bloodbath deepens. the dax nearing a bear market. thes: chinese stocks slump lowest since 2007. south african index falling to the most in five years. crude dropsent below $45. a 16 year low. ♪ francine: welcome to the "the pulse."

francine: they beat. highest profits in 2007. the ceo tells us exclusively that cutting costs is the way for at france's second-biggest bank. manus: the dollar climbs to a four-month high. the central bank is close to raising rates next month here at francine: moving its magic, disney shares fall after hours. >> we can fix it. we just have to get back to headquarters. ♪

i will let francine introduce our panelists. thank you so much for coming. >> thank you so much, theresa. take you so much for setting the scene on immigration. i am going to begin by introducing our wonderful panelists here. i will begin immediately to my left, laura vasquez. she is the senior immigration legislative analyst at the national council, which is the largest national latino civil rights and advocacy organization in the united states. she describes her work as advancing just and humane reform to the current information system. before joining la raza, she worked as a constituent caseworker for eleanor holmes norton, helping city residents with their immigration applications. not an easy task. she was also a congressional hispanic caucus institute fellow. laura is an expert on mexican migration to the united states and the role of nonprofits and in advocating for latino immigrants. she hold an m.a. in latin american studies from the university of california san diego and a b.a. from kenyon college. she was born in mexi

francine: i just want to get laura to jump in. laura: i would just go some of what she said. -- echo some of what she had said. enforcement has been the only answer and that is not what americans support. the reason that people talk about these things being sequenced or together, it is because the parts are interlocking. know whate want to are the candidates, what would a future president do with the 11 million people who are here about the also want to know how would people -- feel about they also want to know about how would people come into the country so we are not looking at another large population of people that came without a visa. how do we fix that? and they certainly do want to know that reporters are being enforced but -- that is something the orders are being want to know that the borders are being enforced. and finally i would just say that one of the things that i think we need to ask candidates deny the not -- benefits we would have if we would have all of the pieces fixed to the country? certainly the moral impera

i am francine lacqua. manus: breaking ne

i'm francine lacqua. manus: and i'm manus cranny.

i will let francine introduce our panelists. thank you so much for coming. >> thank you so much, theresa. thank you for setting the scene on immigration. not so easy to do, actually. i am going to begin by introducing our wonderful panelists here. i will begin immediately to my left, laura vasquez. she is the senior immigration legislative analyst at the national council, which is the largest national latino civil rights and advocacy organization in the united states. she describes her work as advancing just and humane reforms to the current information system. before joining la raza, she worked as a constituent caseworker for eleanor holmes norton, helping city residents with their immigration applications. not an easy task. she was also a congressional hispanic caucus institute fellow. laura is an expert on mexican migration to the united states and the role of nonprofits in advocating for latino immigrants. she hold an m.a. in latin american studies from the university of california san diego and a b.a. in political science a

francine: we get the figures in half an hour. welcome to "the pulse." i'm francine lacqua. manus:

francine: all bets are on. betfair agreed to merge in the latest consolidation of the gambling industry. welcome to "the pulse" live from bloomberg's european headquarters in london. manus:

i will let francine introduce our panelists. thank you so much for coming. >> thank you so much, to raise up. take you so much for setting the scene on immigration. i am going to him to do -- going to begin by introducing our wonderful panelists here. i will begin immediately to my left, laura vasquez. she is the senior immigration legislative analyst at the national council, which is the largest natural latino civil rights and advocacy organization in the united states. she describes her work as advancing just and humane reform to the current information system. before joining, she worked as a constituent caseworker for eleanor holmes norton, helping city residents with their immigration applications. not an easy task. she was also a congressional hispanic caucus institute fellow. laura is an expert on mexican migration to the united states and the role of nonprofits and advocating for latino immigrants. in latinan m.a. american studies from the university of california san diego and a b.a. from kenyon college. mexico and grew

deputy carlos francine drowned in lake tahoe after jumping into the water to help a friend he thought was in distress. it was an emotional day. >> reporter: it really was. 30-year-old carlos diamond francis was a dedicated deputy with a bright future who left this world far, far too soon. >> charming, handsome, successful and humble. and he showed his love for people by his actions. >> it was that overwhelming sense of duty that friends and colleagues of this 30-year-old officer will remember most. hundreds gathered to remember the sheriff's deputy who drowned in lake tahoe last week while trying to save a friend he thought was in distress. >> he dove into that water because saving his friend was more important than saving himself. >> he was off duty at the time of the tragedy but the law enforcement family says he's nothing short of a hero. >> he died honorably, doing exactly what he swore an oath to do. >> his family shared memories of his childhood, he grew up playing football, little league and track. >> me and my brothers going to walk in heaven again and we going to drive camero

. ♪ francine: hello, and welcome to "inside fendi." we are in rome, and over the next 30 minutes, bloomberg brings you behind the scenes of one of the most iconic italian fashion houses, fendi, with the ceo pietro beccari. in 1925, two italians opened a fur and leather shop in rome. their names -- edoardo and adele fendi. the mantle passed to their five daughters, and is there where

i think it makes uniqure something we're speculating on and francine, thank you for bringing it to my attention. next up all on july 15th, justin in california called about la jolla pharmaceuticals, ljpc. this is a dine otiny biotech, a like the category that's gone so good for us. la jolla's lead drug is a therapy for patients with catachloromine hypertension where blood pressure drops to dangerously low levels and they have phase three results by the second half of next year and the rest of the company's pipeline is in a much lower stage. it's up 60% year to deet and up 200% over the past 12 months and up 800 pierce over the last two years. while it has a near-term catalyst and most of the is up idea is baked in at these levels. any negative piece of data would cause the stock to nosedive. i like la jolla, the pharma, the company and it's definitely good, but i don't like the risk reward of the stock of the company. you know what i kind of say? sometimes you have to say to yourself, i have to take a pass. we're too late on this one. then on july 21st chris in new jersey called about

host: here's francine in maryland. a jeb bush supporter. left hime just speaking at the state fair. i especially loved what he said about common core. 'sam a teacher and i loved answer and how he wants to support education. host: andy is next up on the democrat line in kentucky. andy, there you go. welcome. caller: thank you. i have listened to the speakers and everything and i heard some yesterday. i like ms. clinton. she is a dynamite lady and everything. ms. clinton has been good for us for america and everything and for the united states. i know she doesn't obstacles and everything. i like jim webb. i think he is a good candidate on the democratic ticket and everything. of course, if joe biden gets in, i like joe biden and i know he is good and everything. i was listening to this today and i like jeb bush. he is conservative but i'm not too inclined with him. i kind of like mike huckabee and rick santorum and rick perry. i think one of them three would be the best ones to leave the republican party because on the democratic side again, i like hillary, but if she can come clean w

. ♪ francine: hello, and welcome to "inside fendi." we are in rome, and over the next 30 minutes, bloomberg brings you behind the scenes of one of the most iconic italian fashion houses, fendi, with ceo pietro beccari. in 1925, two italians opened a fur and leather shop in rome. their names -- edoardo and adele fendi. the mantle passed to their five daughters, and it is there the fendi story really begins. under their watch, the company grew into a multinational luxury brand. although

. >> reporter: francine gilbert parks in the building's garage. for three days she won't be able to move her car and if she lever the garage before thursday night. >> i can't bring the car back and then how. i going to return if there's no transportation? so, it's a problem. >> reporter: and they won't even be able to get around on their shuttle bus. outside the black zone major arteries like lombard street will be limited to emergency vehicles only, closed to traffic and parking. while many respect scrambling to adjust, others say bring it on. >> reporter: you're okay with it. >> we're okay with it. we prefer to be able to leave the building but in the absence of that, we're happy to be able to be with friends in the building. >> reporter: now the city will be holding another briefing next week on exactly what center city residents can expect and the mayor's office says that plenty of signs will be posted in the parking security zones well before the pope's visit. live in washington square, david henry, channel6 "action news." monica. >> thank yo

. ♪ francine: defending the devaluation. the people's bank of china tries to calm nerves about the yuan. manus: scores of people are killed as two blasts rock a chemical storage site -- at chinese. bailout blues. greek mp's vote on a third bailout today. germany says the plan is incomplete and refuses to back it. all this as we wait for what are expected to be depressing greek growth figures at 10:00 a.m.