david cameron makes his final minister. as prime he is heading to buckingham palace any minute now to give his resignation to the queen. theresa may is waiting in the wings to take the realm as prime minister and lead her country to exit. at who she isk likely to pick in the leadership positions. upk: and stocks are moving as investors see volatility falling off. shows thetory data nation's crude stockpiles increased, adding to concerns about oversupply. it is 90 minutes into the trading day in the u.s., and we have oil stockpile information. let's head to julie hyman. julie: let's take a look at what oil prices are doing at the moment. 30 minutes after we got the oil inventory data and you saw the big drop in oil and it kept going. member in the wake of the report, oil fell 2% but now it is down by more than 3.5%. what exactly happened here? take a look at the bloomberg. this is the weekly change in inventory and what we have seen this year. here is oil. in oilanother drop inventory, two point 5 million barrels. but we had

after the required visit to the queen, theresa may took over from david cameron. she stunned the political worl d by pointing boris johnson as the -- by appointing boris johnson as the war in minister. he is well known internationally, but not always taken seriously. correspondent: he was the future once. always the politician ready with a line. with his family beside him, in front of cameras like this for the first time, it was just the power of goodbye. he did not need a script. >> it has not been an easy journey. i believe that today our country is much stronger. it was about turning around the economy. with the deficit cut by 2/3, 2.5 million more people at work, and one million more businesses, our economy is measurably stronger. correspondent: david cameron wanted a different tory party and a different country, but he leaves the same way they all do. so many fights forgotten, failure remembered among some success. the family remains. ,> i want to thank my children for whom downing street has been a lovely home over the last six years. they sometimes kick the

coming up, david cameron meeting with the queen right now. we will continue to follow the headlines. we know that he will be speaking with the queen about 15 minutes with the conversation, where he will tender his resignation and he will recommend theresa may as his successor an entry summit will make her way to buckingham palace, where she will be confirmed as the 54th prime minister of the united kingdom. this is bloomberg. ♪ shery: this is bloomberg markets. a historic day in london as david cameron steps down as prime minister and theresa may is about to be named his successor. scarlet, you are there. what has the mid-been like? scarlet: so many things moved quickly and without precedent over the last three weeks. inside of three weeks following the exit of though. but today, things feel like they have slowed down a little bit. there's a lot of pomp and circumstance, a lot of formality as david cameron renders his resignation to the queen and theresa may makes her way to buckingham palace, to be invited by the queen to form a new govern

david cameron and announced his resignation because of his defeat. and also, jeremy corbyn's perceived lack of enthusiasm for the remain campaign was one of the triggers that convinced his opponents within the parliamentary party that they had to get rid of him and they had to act. here was a moment with a had a pretext or a reason -- to the labour party, we will be in favor of leaving the eu. this is why we cannot carry on with him as leader. he is one of the factors that many labor voters did not come out to support the remain campaign. that triggered the labor leadership contest. years ago, tony blair left the job in a grand style with applause wringing out from all sides in the comments. appealed toiously david cameron. he had to bring to a close his tenure. his 182ndf july saw and final p.m. qs. >> i had meetings this morning. other than one meeting this afternoon with her majesty the income the rest of my day is remarkably light. fivehave been watching prime ministers. i have seen him achieving mastery of that dispatch box. unparalleled in my t

ssets under david cameron -- david cameron took over as uk prime minister in may 2010. we have charted how the assets have fared since then. u.k. bonds have risen roughly 50%. the light blue line, the ftse 100, roughly 25% higher. my favorite line is sterling against the dollar because up until june 23, sterling was sitting on just a small gain against the dollar from the beginning of david cameron's tenure. you know what happened on june 23. you know what happened june 24. since then, sterling has fallen by double digits, meaning david cameron under his tenure is down by double digits. if you take out june 24 two today, sterling is little changed against the dollar. and wonderful chart and good news today for burberry. slightly beating analyst estimates as u.k. shoppers step up purchases. has been a big week of changes at the top of management. the top performers up by 30%. the worst performer is down by 34%. burberry is 13% lower. it was up 8% earlier. let us check in with bloomberg first word news right now. .mma chandra has the latest emma: a federal appeals court h

naran david cameron may be out. the cat is staying. larry spends his day greeting guests, inspecting security defense and testing antique furniture for napping quality. i did not know this, but cats have occupied government buildings in london since the 1800. this is a thing. >> it is a thing. and larry the cat is a big thing. he's been a famous character here in the last four, five years and often seen or pictured sitting on the doorstep and always a lately flurry of excitement when he pops in and out, but he hasn't come out today which is terribly disappointing. if he does, i'll be sure to take a snap of larry the cat. >> adding celebrities on snapchat had gotten a whole lot easier. lets users follow verified accounts with just one click. celebrity accounts are featured on official live stories and can be added by tapping the celebs user name in the upper left-hand corner. good news for you, wilfred. >> well, absolutely right. i look forward to using that a lot moving forward. >> are you taking over cnbc's snap? i wanted to give you

today is david cameron's last day in office. for more on the transition of power to the incoming leader theresa may, scarlet fu is outside of downing street. give us a sense of the scene over there right now. where's david cameron and theresa may? what is going to happen next? scarlet: things have moved off awfully quickly, but now you have the formalities taking over. that will make up much of the next 3-4 hours. david kaman has returned -- cameron has returned to downing street and will make final comments before making his way to buckingham palace and offering his resignation to the queen. theresa may will make up with the queen in which it's more of a handshake as the queen will confirm theresa may as the 54th prime minister of great britain. wise queen elizabeth ii involved at all? it is more than pomp and circumstance. the queen is the head of state. theresa may is selected by her peers and she will be confirmed by queen elizabeth ii. theresa may will be the second female prime minister and the u.k. after margaret thatcher

today with david cameron going out. geoffrey: the fact that the emperor is deciding he wants to abdicate, is clearly, as you say, very big news. someone we think of as younger because we are older, like when elizabeth it almost is involved here. geoffrey: no sign of getting on the throne because the queen is not going to abdicate. tom: this is separate on the debate of economic and finance. lakshman achuthan is with us. francine, are you looking? francine: i am looking because i am not familiar with emperors and abdication in japan. they have to make sure they have a good successor and the person who abdicate sassy is 82, so we will find out more. this came as a surprise to everyone, but they did have most of the previous emperors also abdicate, tom. emperor,n, the 125th and we will have more on this for you. lakshman octagon is with us, who achuthan -- lakshman is with us, who knows the reign. it is extraordinary. lakshman: absolutely extraordinary. if you look at what is happening gettingt days, with abe a pretty stro

this is david cameron's last day as british prime minister. in a few hours, he heads to parliament, where will hold his final question time. last month, mr. cameron announced his resignation after the u.k. voted to leave the european union. his successor is home secretary theresa may. she will be the country's second female prime minister. the first was margaret thatcher 26 years ago. the incoming prime minister has a lon to-do list. cnn contributor, robin oakley, joins us from outside barrelment. good to see you. how are the next few hours likely to play out as we say david cameron bow out and theresa may take her post as prime minister. >> cameron will be coming to the house of ministers for his final question time. that could be a cheery, jocular occasion. it often is when people leave office. but there may be a heavy political message for n this one, too. he may not be able to resist the opportunity for one last dig at his labor opponent, jeremy corbin, who is facing desperate problems and a leadership challenge in his party. after the pri

why is david cameron stepping down earlier than expected? >> reporter: because one of two campaigners for the leadership which carries with it the prime minister's job pulled out of the contest yesterday with teresa may. ensuring instead of a contest, we have a kcoronation. david cameron is going through the last two days of the six-year period on downing street. he was humming as he walked back to downing street after announcing his impending departure. alison. >> wednesday, i would attend for comments for questions and after that, i expect to go to palace and offer my resignation. we will have a new prime minister in the building behind me by wednesday. >> reporter: now teresa may is putting together her team to succeed the cabinet that david cameron is presiding over for the last time today, alison. >> you know, the now soon to be former prime minister humming. it makes you wonder if he is feeling a sense of relief or is he thinking good luck to teresa may. lots of challenges. >> reporter: yes. david cameron is the prime minister who gamb

francine: we're just seeing david cameron. david cameron going to parliament in his car, and we understand he will visit queen elizabeth ii to resign and that is when the monarch will invite theresa may to form a government. do we know anymore about how this all plays out for a global audience? simon: it is quite british. david cameron may have had an inkling last weekend but probably spent a certain part of last week thinking he had a nice eight week run legacy and he was going to go to africa. and then suddenly, you are out. , theer bit of britishness formal passing over of powers is known as the cutting of hands and whether it happens is not known that is what you do with queen. and then you will rush back into the business. it is another example of just how crazy british politics have been in the last three queen. weeks. right when you think you have got a handle, it is off to the races, andrea leadsom drops off, theresa may is crowned prime minister. francine: does downing street clear out? rupert: we will see what theres

we await prime minister david cameron now. most of his staff are here as well so his arrival is expected any moment now. of course, this will be a sad occasion for him as well as a historic one and momentous one. we are awaiting him any moment now. back to you for the moment. >> the political change over happens right now but many issues still need to be sorted out. obviously brexit means brexit and we'll make a success of it. she is in charge of the country's divisions although she will not envolkswagen article 50 this year. >> when i first stood here at downing street on that evening in may 2010 i said we would confront our problems as a country and lead people through difficult decisions so that together we could reach better times. it's not been an easy journey and of course we have not got every decision right but i do believe today our country is much stronger and with a deficit cut by 2-thirds, 2.5 million more people in work and 1 million more businesses there's no doubt that our economy is stronger. politicians like t

they've been difficult days for david cameron recently. but as he leaves downing street now, we do know there is someone at downing street who won't be leaving, and that, in case some of the viewers are wondering, larry the cat at downing street, he doesn't leave, he stays on for the next prime minister. >> a nation breathes a sigh of relief. nic robertson, we know david cameron had a close working relationship with president obama. they often referred to each other as friends. what do we know of the incoming prime minister theresa may when it comes to her view of the special relationship? >> she views this as a very important relationship. i interviewed her about five years ago as the home secretary in charge of national security and we were talking about national security, about working with the united states. this was at a time when al qaeda was sending some bombs. they sent bombs through britain. she had worked closely with janet napolitano, her opposite number in the united states, and she talked about how important that cooperation i

what about david cameron? : david cameron saying he will resign on wednesday. things that social media has picked up on is after his address, he headed back inside. just as the door closed, we heard him singing. as the door closed, saying right. this was picked up by a lot of social media. people saying he is relieved to be finally handing over the reins. love him or lose him, lease we can all remember cameron's last word as pm. some light relief from david cameron before he steps down as prime minister. angie: i guess it is somebody else's headache. ros, thank you so much for that. checking in on some other stories we are following for you. gained in shares after it exceeded estimates. the jet park exceeded. it was $.15 a share and beating the average predicted by bloomberg analysts. 9 to $5.3l from 5.9 billion. the company will split into in the next couple of years. executiveank of japan director says they will need to reduce the pace of its debt purchases as its approaching the limits of the bond market. the central bank is aware of this. based on commonsen

prime minister david cameron's loik, "but we cahn' t leave the e.u.!" the conservatives are loik, "oh, do shut up! we're in powah you! hold the vote!" "fine! i say, chaps, yea or ney?" and the bri'sh people go, "(bleep) the e.u.! brexit!" now let's go take the piss out of some footie! >> larry: okay. well, thanks for clearing all that up for us! >> yeah! >> larry: culturally suspect chimney sweep nigel crumpetberry, everybody! (cheers and applause) uh, nigel, you should really get a dental plan. so the people of the united kingdom voted for brexit, but c'mon, it can't be all that bad. >> a weekend of turmoil after the prime minister said he will step down. >> the pound continues to plummet against the dollar. >> stock markets in europe continue to fall this morning. >> between today and friday, $2 trillion of global wealth has evaporated. >> larry: evaporated? no, water evaporates, milk evaporates. money doesn't evaporate -- somebody loses that (bleep). $2 trillion? who votes yes to a $2 trillion loss?! i can't even say it! it can't even come out of my

we have david cameron just coming out of 10 downing street. let's listen in. >> -- con front our problems as a country and lead people through difficult decision sos we can reach better times. it's not an an easy journey and we've not got every decision right. i do believe today our country is much stronger. above all, it was about turning around the economy, and with a deficit cut by two-thirds, 2.5 million more people at work and 1 million more businesses, there can be no doubt that our economy is i'm mez rahbly stronger. politicians like to talk about policies, but in the end it is about people's lives. i think of the people doing jobs who were previously unemployed. i think of the businesses that were just ideas in someone's head and today are making a go of it at providing people with livelihoods. i think of the hard working families paying lower taxes and getting higher wages because of the first ever national living wage. i think of the children who are languishing in the care system and who have now been adopted by loving families. i t

>>> theresa may arriving at downing street for david cameron final cabinet meeting. a changing of the guard in uk politics this week. we'll tell you why the world is watching and what it means for your money. >>> plus the race for the white house. bernie sanders finally ready to endorse hillary clinton today. it's tuesday, july 12, 2016 and "worldwide exchange" begins right now. >> good morning and welcome to worldwide exchange. i'm sara ieisen. >> i'm wilfred frost. good morning from me as well. >> looks week we're building gains globally. dow futures up a nice 83 points in hour. nasdaq futures up 26. the buying continues despite the wall of worry. first the chinese currency, then plunging oil prices, then the brexit, and yet stocks making new highs. as for the 10-year treasury note yield has been the trade for the last few sessions. that continues and pushing up the 10-year treasury note yield into the 140s. where were was last week, 132 a record low. so you're seeing that reverse just a bit. still historically low yield. >> overall, we've seen buy pg of both asset

david cameron finalized a multibillion-dollar deal with u.s. plane maker boeing. they agreed to buy -- there was also civilian aircraft deals announced on monday. all the details. >> it was the first major announcement at this year's air show. british airline said it made orders for 12 planes in a deal thought to be worth around 3.9 billion euros. the purchased hailed by the company's founder, sir richard branson, is one for the future. >> we are trying to get our carbon output down, our fuel output down. this achieves roughly 30% of that. >> the airline said it would purchase jets to be delivered starting 2019, and four additional ones in 2020. the uk prime minister david cameron hailed it as an endorsement of british quality. >> the new situation we face, we are going to need to play to our strengths. and the british aerospace industry is one of those greatest strengths. seconds a plane takes off or land somewhere in the world whose wing design was tested right here. by the end of the decade, if you bought a large passenger plane as often as not it will be power

david cameron goal is i love -- david cameron: i love this country and i feel honored to have served it. michelle: cameron has gambled and lost, the referendum has left not a united but a deeply divided kingdom. welcome to this special post-referendum edition of "focus on europe" in which the u.k. decided to forever change its relationship with the european union.

so the economic story will be a plus for david cameron, i think. running the referendum and winning it on scotland was a plus. people said at the time it was a gamble but in the end a 10-point difference and that kept scotland in the united kingdom, but his legacy will be covered by the fact he tack something of a gamble in organizing this referendum because his own party had become somewhat ungovernable, believed he could win if it came to the referendum being hecialtiond and alas for him and, in my view, many of us, it didn't work out, and, so, the united kingdom is leaving, and i think the united kingdom's decision to vote to leave the european union is inevitably going to be one of the main features of david cameron's political legacy. >> ifill: former ambassador to the united states peter westmacott, thank you. >> thank you. >> woodruff: for republicans, the countdown to their national convention in cleveland is on, with a major focus on who will be the vice presidential choice. the party's nominee-to-be spent this day working to answer that q

david cameron now making his way for his female successor. how all the political drama for the uk will actually affect us here at home, we will talk about that and we want to hear from you.would you like to see donald trump choose as his vice presidential running mate? we have a live chat up and running, go to foxnews.com/happeningnow and join in on the conversation. >> you do all this research on a perfect car, then smash it into a tree. your insurance company raises your rates. maybe you should've done more research on them. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. just one of the many features that comes standard with our base policy. call for a free quote today. liberty stands with you™. liberty mutual insurance. jon: right now some crime stories we are following. police in phoenix now identifying four more cases linked to a string of deadly shootings. in one of the earlier incidents, a witness was able to get police suspect ascription. they now believe all the shootings we

i understand david cameron did not actually vote, so we have 329. the front runner won, votes.isingly, with 165 she is the home secretary for the last eight years, well-known and influential a gear. remaino did campaign for , but she says she is a unifying figure. second but far behind is the energy minister with 56 votes. then in third place, the justice secretary, the one who was going campaignis johnson's manager and announced his sudden candidacy thursday morning two hours before the closure of the candidacies to succeed david cameron. fox came last with only 16. commenting on the results moments ago, theresa may said she was pleased, that there was a big job ahead to unite the party and the country following referendum results to "negotiate the best possible deal as we leave the eu and to make britain work for everyone." am the onlyed, "i candidate capable of delivering these things as prime minister, and tonight, it is clear that i am also the only one capable of drawing support from the whole of the conservative party." a resounding win and a

john: a very diminishing role. 6 david cameron -- charlie: david cameron is leaving. where is he going? john micklethwait he will probably stay in parliament. i think he honestly doesn't know. i think he is in a state of shellshocked. i think he always knew there was a danger of losing its. he is generally a lucky politician. charlie: does he consider himself a chosen child? john micklethwait i think he considers himself very unlucky. had not goned gove to believe side he probably would have one. he may be right on that. that is what you have seen in the tory leadership. a follow on from that. theresa may inherited george osborne's machine. his attempt to be the next tory leader. what happens to george osborne? john micklethwait -- john: the big question is, does may keep osborne? does she go to the foreign current secretary to replace him? a lot of europeans argue they weren't enthusiastic about george osborne but they see him as extremely competent. there will be that forced to keep them in that place. osborne is less toxic with those people who wanted to leave. wha

theresa may has established an in those vying for the seed of david cameron. centered largely on how the future leader of the party would handle brexit proceedings. 10,n the battle for number theresa may is racing ahead. according to a poll in "the sun," 60% of voters support her. while campaigning for the remain cap, she says brexit means brexit but favors a slow withdrawal from the european union. >> i do not think it is possible to say there is an absolute deadline. what is important is that we do it in the right timescale and to get the right deal for the u.k. i said we should not invoke article 50 immediately. contender, business secretary andrea letson, who shot to prominence campaigning for the leave vote. a former investment banker, she believes in the scrapping of free movement of people and wants free trade negotiations. letson has said she would speed up the process of britain leaving the eu. >> we need to get on with it and sees the opportunity. it is about giving certainty to businesses, saying to the world that we are open for business and let's

the latest on david cameron's departure. and people don't always have to get rid of their beloved pets when they find out their children are allergic. what's with them? oh, those two? they're always fighting for attention. there's more to a legendary city than its legends. plan your legendary stay at visitphilly.com today, lori grabs delicious jimmy dean sausage from the fridge, fully cooked and ready in seconds. it makes breakfast complete, which makes bill feel like completing the gazebo, prompting a celebration in lori's backyard. with jimmy dean, good mornings lead to great days. >>> now to the race for the white house, and the speculation is building on who will be donald trump's running mate. there is rumors he could appear with his number two as early as friday. there is talk of one possible choice, newt gingrich, fired by fox news as contributor and indiana governor, mike pence. on the democratic side, hillary clinton is turning to the symbolism of abraham lincoln's house divided speech arguing that the nation has to

five mp's have entered the fray to replace david cameron. it would be the first prime minister to be elected by party membership. sides ofon opposite the brexit debate, they have set up their plans for the british withdrawal from the eu. we have more. reporter: in the battle for number 10, one is racing ahead. to a poll, 60% of tory voters support her. while they campaign for the remain cap, she says brexit means brexit, a slow withdrawal from the european union. deadline.olute what is important is that we do this at the right timescale and that we do it to get the right , so we should.k. not info article 50 immediately. shot to: another prominence campaigning for the leave vote. a probe brexit candidate. she believes the scrapping of the free movement of people and once free trade negotiations. she said she would speed up the .rocess of leaving the eu >> i intend to keep this as short as possible. europeane nor our friends need prolonged uncertainty, and not everything needs to be negotiated before article 50 is triggered and the exit proce

sleep foreign minister under david cameron. former chancellor of the exchequer george osborne has resigned from the government could fill up hammond will need to shape the future trading relationships in the post-brexit world. the count has been reacting to all of these new developments. investors are eagerly looking for clarity now that theresa may has become prime minister. it is headed for its longest winning streak in two months but it has been in the past few hours to just over $1.31, the kind of .6%. -- decline of .6%. let's get a check of the markets. over in london, the ftse ended the session in negative territory, wiping out earlier games as the country braces for a new leader. dax down .3%. cac completely flat at the close. we are seeing a similar picture on wall street at this hour. stocks also reacting to a drop in oil prices. this after the international energy agency warned market supplies threaten price recovery. eu leaders held a numeral today summit in beijing. -- 2-day summit in beijing. they agreed to form a

>> colin firth. >> how dare you. >> you don't like david cameron? >> kelly,that's not nice. >> there he is. >> no, no. in is no. you've gone too far, joe. you've gone too far. >> scott, can you tell the difference if we don't put them side by side. >> that last picture looks more like david cameron than the other one, i think. >> it's the same guy. how can it look more like it. >> their two different roles, what do you mean. >> i don't know, wilfred. you can't go from like schwartz neigher did, acting, politics, back to acting. >> wasn't he in the kings speech too. >> that was colin. you think of david cameron, don't you? i do. will he be remembered for the referendum? is that it? it was good for the country and bad for him, i think, right? >> not many old people think it was good for the country. he's got the con servetives back in power. labor was under power for some 13 years. he's leaving the conservative party in power. he also saw an economic recovery. you're absolutely right. his legacy will be the referendum. something rereally delivered in

that was the issue david cameron said he lost this referendum over, underestimating britain's desire to get a clamp on this perceived immigration threat. it could be a canada type deal. canada has been seven years in the negotiation of a trade with britain. we are looking at a long time of uncertainty for britain regardless of what the politicians right now are saying in london. from europe's perspective, you are exiting and that means a totally new trade deal. that will take a while and first have to get the exit done. anchor: what reaction have we seen to the commissioner's statement? >> london is very worried this could be a body slam to the entire u.k. services intercity -- industry. we have had the former defense remarksy calling these bizarre, stupid, preposterous, and ridiculous. i guess he is sort of against them. ofically, there is a lot voices in europe saying how could britain go into this, how could european politicians going to national elections this year? whether we are talking france, germany, with total uncertainty as to where the trade relationship written stance. t

. >>> and britain's david cameron is getting ready to leave downing street for the last time as prime minister. we'll have live coverage from london. it's 5:30 on the east coast, 2:30 out west, and this is "way too early." >>> good morning. it's wednesday, july 13th, i'm jonathan capehart. president obama carried a difficult mantel yesterday, the nation's first black president addressed the high profile deaths of two black men by police, while eulogizing the five police officers slain on the streets of dallas. on the flight down he phoned the family members of philando castile and alton sterling to offer his condolences and once in dallas he tried to reassure the crowd that the nation is not as divided as things may seem. but he didn't shy away from discussing bias. that americans must confront certain truths in their homes and hearts. he drew a standing ovation as he invoked the heavy burden america's police officers carry as five chairs sat empty to represent the five fallen dallas officers. >> what chief brown has said is true. that so much of the tensions between police department

all 330 tory members will be balloted to the five contenders hoping to succeed david cameron. each have outlined different ways to manage withdrawing from the eu. secretary may has received the

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that prime minister will only have just taken office-- david cameron stepped aside. there laib new prime minister, we won't know-- he or she-- what kind of deal they want from europe. i think a general election before the five years. but i think what they want from the e.u., what they want from-- it will be hard. >> rose: zahny, who is going to be the new leader of the labor party? >> i don't know who is going to be the new leader. the names bandied about have included cooper, many others. who knows? if you ask me oned from morning would we be talking about a new labor leader right now, i would not have thought we would be this fast. so i don't know. >> rose: turning now to politics here at home, benghazi, waterboarding, hillary clinton's e-mails are back in the news. joining me from aspen, colorado, is politico's mike allen. so what's the hot topic this where you gather all these really interesting people? >> charlie, we're here at the aspens ideas festival. people talk about its as d.c. summer camp but i think of it as a ar reunion for a really interesting college.

david cameron will hand in his resignation to the queen. announced he would step down after british voters opted to leave the european union. john micklethwait, pleased to have him on all things british . where is david cameron going? >> i expect he will stay in parliament for a bit. he as generally been a lucky politician. >> rose: does he consider himself a chosen child. >> i think he considers himself very unlucky. i think he thinks if boris johnson and michael gove had not rebelled against him, had not gone to the leave side, i think he thinks he probably would have won and he may well be right on that. >> rose: and can always come back to the second act. >> that's what you've seen in the tory leadership race has been a follow on to that. theresa may inherited george osborne's machine in what he imagined would be his attempt to be the next leader. o>> rose: what happens to george osborne? >> the big question is does may keep osborne or say phillip hammond replaces him. a lot of the leaders were with not enthusiastic and osborne but now

matt: manus: a successor will be elected to david cameron. the bank of england will publish its financial stability report at 10:30. anna: later today, barack obama campaigns with presumptive democratic nominee hillary clinton for the first time. that is in charlotte, north kill anna. carolina.arlotte, north manus: up next, we look at the ballot and the tory mp's. this is bloomberg. ♪ anna: welcome back, everybody. this is "countdown." this is a live shot of hong kong this afternoon, of course theuse it is 1:19 in afternoon there. let's get to the bloomberg business flash. saysind: the ceo of vitol levels will not rise much above current levels. so demand and efficient refinery prices are to blame. and efficient refinery prices are to blame. >> i think we will be in the $60's.0's or >> at the end of next year, use the $60 oil? >> at the end of 2017, i could see $60 oil. the company resumed trading yesterday for the first time this year, following a six-month halt. the shanghai composite index will force by the end of september, sledding 2.7

courtney: he broke with david cameron overstaying in the eu. he torpedoed the leadership ambition of his fellow brexit campaigner. now he has his sights set on home secretary theresa may. she's the early favorite to leave the conservative party and the country. in austria, there will be a do over in the presidential election. the constitutional court ruled in favor of the far right freedom party, which had disputed the results. lost by justdate over 30,000 votes. more than 4.5 million votes were cast, the austrian coat found violations -- court found violations and counting mailed ballots. global news, 24 hours a day, powered by 2600 journalists in more than 120 countries. i'm courtney collins, this is bloomberg. courtney, thanks. a positive sign for the u.s. economy, activity expanded in the fastest clip in more than a year. with the supply index increasing to 53.2 last month, exceeding estimates. it comes as the eyes them released a new report on the business impact of brexit. isning us from phoenix thomas derry, ceo of the institute for supp

instead, we've seen david cameron overthrown. we've seen market turmoil, and we've seen the conservative party now fighting more bitterly than it has ever done before with personal exchanges becoming absolutely vicious. one mp saying that michael gove, in failing to support boris johnson, his fellow leave campaigner, has found himself -- there's a pit in hell that would be the appropriate place for him. >> and of course the newspapers, who are famous for their headlines here in britain, they're having a great time with this. we'll have a look at some of the morning papers here. james will be our newspaper holder for the day. okay. this is one of my favorites. this is the sun, a picture of boris johnson there, and the headline is, brex ecuted. the daily mirror. justice knifed by his mate. the shaming of boris, the man who betrayed britain. and this is possibly the best. the daily telegraph. an act of midnight treachery. we should note that boris johnson writes for the daily telegraph. >> indeed, and they were both together at a pa

david cameron leaving 10 downing street after six years, far sooner that he expected. coming out of this official resident for the last time, with his family. he will then go down to buckingham palace for a private meeting with the queen, where he will offer his official resignation. then that second meeting, theresa may curtsying before the queen, known as kissing the hand. the 59-year-old had been against leaving the eu, but after the brexit vote, said the country's leaders must embrace the will of the people. >> brexit means brexit and we're going to make a success of it. >> reporter: after moving in here, theresa may got right to work, nailing a new cabinet, including boris johnson, who led the brexit campaign, and who is also a u.s. citizen, as foreign secretary. david? >> alex, thank you. >>> and there is still much more ahead on "world news tonight" this wednesday. the bomb threat that closed a popular amusement park today. >>> also ahead, the parents of this young woman. this was her last instagram post. she later fell to her death at the grand canyon. the fami

david cameron leaving 10 downing street after six years, far sooner that he expected. resident for the last time, with his family. he will then go down to buckingham palace for a private meeting with the queen, where he will offer his official resignation. then that second meeting, theresa may curtsying before the queen, known as kissing the hand. the 59-year-old had been against leaving the eu, but after the brexit vote, said the country's leaders must embrace the will of the people. >> brexit means brexit and we're going to make a success of it. >> reporter: after moving in here, theresa may got right to work, nailing a new cabinet, including boris johnson, who led the brexit campaign, and who is also a u.s. citizen, as foreign secretary. david? >> alex, thank you. >>> and there is still much more ahead on "world news tonight" this wednesday. the bomb threat that closed a popular amusement park today. >>> also ahead, the parents of this young woman. this was her last instagram post. she later fell to her death at the grand canyon. the family speaking out what they're

prime minister david cameron stepping down today. we saw him leave this house just a few moments ago. he's due over at buckingham palace to hand over his resignation to queen elizabeth. and i have to say, in speaking to people on the street here, you get the sense that whatever their opinion of theresa may, they're just happy to have somebody back in control, charting britain through these unchartered waters. >> definitely new chapter. lucy, thank you so much for that report. 17 minutes past the hour, "scrambled politics" is next. ♪ if you have morate to severe plaquesoriasis, isn't it time to let the real you shine through? introducing otezla (apremilast). otezla is not an injection or a cream. it's a pill that treats plaque psoriasis differently. with otezla, 75% clearer skin is achievable after just 4 months, with reduced redness, thickness, and the otezla and prescribing information has no requirement for routine lab monitoring. don't take otezla if you are allergic to any of its ingredients. otezla may increase the risk of dep

david cameron is addressing parliament right now as leader. his successor, teresa may will lead britain to the european union. good morning? >> reporter: good morning. this political theater here, at least this act of it and everybody knows how this show will end the main actor, david cameron, is leaving the stage and the building, a victim of his own hubris. but the show must go on. normally it's a chance to ask the head of government about policy, but david cameron is no longer making policy and won't be head of anything in a few hours. >> this will be the last question. >> the house of common appearance has become a platform for prime minister farewells and like the others, david cameron tried to make the best of his. >> other than within meeting this morning with her majesty the queen, the diary of the rest of my day is remarkably light. >> the movers have been coming up and he'll be moved out by the rest of the day. the new prime minister will move in former cabinet prime minister teresa may who will be asked by the queen to take off. may

meanwhile david cameron is stepping sooner than he originally announced. >> he'll be replaced by someone who was the home secretary in charge of internal affairs in the uk. she faces the job of guiding britain out of the european union following the brexit vote. >>> and a new family may be moving into number ten downing street, but larry the cat will not be evicted. >> he's a cat that who is also the resident mouse catcher. he'll continue to reside in his famous abode even when the new prime minister moves in because larry is so popular, he has his own twitter account. >> i look at that video. since then he's added some 20,000 followers on twitter. his last tweet saying the news you've all been waiting for, he's sticking around. >> he looks like he's ready to pounce on a mouse in that photo. >> look at larry. >> >> no wonder david cameron was whistling on the way out. >> coming up, edward burger hands. >> one of the delicious meals served inside this restaurant that makes you feel like you're inside your own tim burton adventure. see why you'll need to bring extra napkins. our "insomniac

david cameron will hand in his resignation wednesday. he announced he would step down after voters opted to leave the european union last month read -- leaving the leading voices in the campaign to leave, she dropped out of the race as well. to talk about the change is john micklethwait from bloomberg. he is the editor-in-chief. i am pleased to have him on all things british at this table. welcome. john: a very diminishing role. charlie: so, david cameron is leaving. where is he going? john micklethwait: he will probably stay in parliament. i think he honestly doesn't know. i think he is in a state of shell shock. i think he always knew there was a danger of losing its. he is generally a lucky politician. charlie: does he consider himself a chosen child? john micklethwait i think he considers himself very unlucky. if johnson and gove had not gone to believe side he probably would have one. he may be right on that. that is what you have seen in the tory leadership. a follow on from that. theresa may inherited george osborne's machine. in