the bank of england leaves rates unchanged. governor carney is leaving rates unchanged, sending sterling up as much as 2.5% against the dollar. they voted 8-1 against a rate cut. alix: we will decide what that means for the economy. will be joining us to discuss that. let's go around the world and check in with our bloomberg team for the top stories at this hour. laura keller is in new york on jp earnings. let's start with the decision in the u.k.. jonathan: anna edwards and jamie murray. jamie, let's start with you. what do you think it was that held them back from pulling the trigger? jamie: mostly a communication thing. the three-week wait, they have to wait until august -- it is a very long and give them a chance to explain why they are cutting. forecasts.ew so really just helping to explain what their actions are. jonathan: rates unchanged, the market expecting big things. they are expecting a bit of a move from the bank of england. did those expectations just get shifted three weeks back? edwards: they didn't give us a cl

the bank of england decides. tomorrow, the big one out of china, gdp, retail sales, factory output as well. given that valuations are at multi-year highs across some of these markets, you do understand that we are seeing momentum tumble slightly. anna: david, thank you. seesitment company hays its full-year operating profit ,t about 180 million pounds ahead of expectations. will brexit have an impact? joining us is the finance director of hays. just looking through these numbers, you are talking about being ahead of expectations for the full year operating profit. what about your statement is backward looking. >> it is until the end of june, so it is not that much backward looking. i've been doing the job 10 years now. this is one of our most uniform set of results. that is more than 3% higher than markets were expecting. consulting productivity was up 5%. we've had a stunning catch performance. not only are we now net cash, the first time in six years, we've actually generated 130 million net cash this year, abo

he also wanted to establish a blockade of new england, a take naval blockade of new england between manhattan and the canadian border. in addition he sent a small force to the south and under the supposition that the south would be much easier to cope with. if we had an army in the south e,d we were successful ther then this would contribute to the whole revolution collapsing in new england. new englanders would see that not only they were cut off, but that the king was succeeding and the south. this was his grand scheme and the centerpiece was the hudson champagne corridor. it did not work. british in 1776 never succeeded in establishing a real blockade of new england. they did win the battle of long island. they did take manhattan. they had control of the whole area around manhattan. but they never got to albany. the army coming down from canada never got to albany either. scheme in work, this 1776. and, guess what? everybody, the king, george washington, all the leaders in england and united states said there was nothing wrong with the strategy, the problem with how it was carried out. thi

now counting down to that bank of england decision here. the first since the brexit vote so all eyes will be on mark carney. >> we have a guest coming up saying this is more important globally than the u.s. election, than possible fed hikes as well. >> and i think not just the decision, but what he says because a lot of people saying it's not really a question of if when it comes to easing additional qe, but when. that will be the big focus. i know you're doing a special with jeff if a few hours, but let's give you a view of whether the european markets are trading now. the ftse 100 higher by .75%. the french cac higher by 1%. this is a continuation of gaining we've seen globally. asian markets having a solid day as well. >> some of the biggest movers today when looking at individual stocks, we've got hays ahead of expectations thanks to strength in europe. the uk recruitment company reported an increase. they're warning the domestic market is challenging. >> basf has declined to report that monsanto is looking into possible deals. includin

mark: talk to me about the bank of england. of course the chancellor should never give their view on what the bank of england should do. now you are a former chancellor, you can say whatever you like. should they cut rates yet go lord lawson: -- should they cut rates? lord lawson: carney has given a strong indication and i think even other members of the committee who may have doubts about the wisdom of this will be reluctant since he is gone out in front and said it and indicated it. i think they will be reluctant to stand the way of it. i don't think it will do any good at all. it sends am, because crisis which is totally unwarranted. you look at europe and the european central bank, they cut , printing money hand over fist. look at the limit to the state of the european union economy. it doesn't do much good. i really do think that it takes a little longer that there is no -- fix.x the way to get the way to get the world economies going the right way is to do supply-side reforms, make them more efficient, more productive. re

we thought this was going to come across southern new england. hand turn. in locations like nantucket and new bedford it wasn't like we picked up 1 or 2 inches of rain in those upon locations. metro boston couple of sprinkles and light rain. then the sun came out. and that cooked the atmosphere. that popped a round of showers and downpours. these are left of the sh another batch crossing route 2. this drifting south. that's good for the lawns and the gardens. other that they fade away. temps at this time 70s to around 80. the city at 74. bedford 80 degrees. no 90 degree heat. but the trade off with the morning rain that added moisture to the air. to around 70. that air is thick tonight. that's the case for the rest of the evening and overnight. mostly clear patchy fog. muggy 63 to 68. on the weather map another weather system that is going to generate the scattering of showers on sunday. over here this evening. between us and that weather pocket of dry air between us and canada. that is on the move for tomorrow. into new england on saturday. and even monday

sterling rallying after the bank of england decision. the central bank keeping rates at a record low, possibly weighing stimulus for august to keep the economy going post brexit vote. vonnie: and kicking off earnings theon to a beat thanks to global market rallies. mark: it's the first full day with theresa may as prime minister. we will discuss who is in and who is out. vonnie: 90 minutes into the trading day in the u.s. julie hyman has been keeping an eye on the action. s&pe: the records on the and dow, the dow actually the winter percentagewise. the s&p gaining a little more than .5%. look at the bloomberg because this will show you the other ways that it is manifesting itself through the various sectors. a pretty broad-based rally. cyclical groups are back and forth. some of the more defensive groups are at the bottom of the list. some of what we are seeing is earnings driven. jpmorgan coming out with second-quarter profits beating estimates. it saw earnings at its corporate and investment bank rising by 6.5%. rising.e stocks these c

it will not be area wide across southern new england. there may be some narrow bands across southeastern mass, buzzards bay, the cape and the islandses that pick up one to two inches. this afternoon partly sunny skies. still an isolated leftover shower. the theme this afternoon is to after dealing with the showers this morning. mid-70s right now. take a look at the forecast ahead. back into the 80s. that's the other story. the heat wave is over and done. with break the pattern. get into some scattered showers sunday and monday. and seasonable temperatures through much of next week. >> kris: all right. it's time now for fast track traffic with danielle gersh. rain never a fun experience when you're out on the roadway. >> danielle: no, especially not on the roads. doesn't feel too bad. this is 93 southbound. looking pretty good heading into boston. let's switch cameras. th it's about half an hour from braintree into boston. the good news, we're not watching any accidents. let's go to the maps. south of town, route 3, 24 and 95 all looking

the decision from mark carney and the bank of england. political decisions coming out in the last 20 minutes or so. we saw a big smile on boris johnson's face yesterday. i imagine the smile that will be beaming once again because michael gove, the man who famously stabbed him in the back in that leadership battle, has lost his job in the cabinet. more developments, more announcements coming out for theresa may's new cabinet in recent minutes. michael gove adding to the list of losers. gorge osborne also getting the j chop yesterday. gym. great to have yo with us. some crazy developments in british politics. how big a surprise was boris johnson becoming foreign minister. >> will complete striez. you have to look at this as theresa may has great character. phillip hammond is a great character. and suddenly you have boris johnson one of the most lively people in british politics popping up. it's a slightly less important position than it was prethe vote for brexit because some of the elements of negotiating the brexit deal and taking britain

another one will move into new england with a scattering of showers. we have the time line in a few minutes. >>> the search is on for a man that broke intoing a hingham home and assaulted an eltd lee woman. what believe have revealed about >> reporter: ryan, this is a top priority for the hingham police. they talked to the victim, of course, and come up with a description we're about to put out and working on a composite stem cell. >> they're looking for a man that sexually assaulted an elderly woman. that's a sick thing to do an elderly person. >> police say this woman over age 70 did not know the man. police won't in her home. she called 911 about 9:00 p.m. nurse night after he ran off from the house. a k-9 searched turned nothing. >> we'll work until we get him identified and off the street. >> police warn residents to lock doors and use motion defector lights and alarm systems. >> it's strange and surprising. i'm really surprised to hear something like that the shaken white male with thinning gray hair, brown eyes and a thin recalled. >> that's ver

. >> this is 7news "today in new england." >> nick: call it thursday. call it friday eve, whatever you prefer. good morning. thanks for joining us. i'm kris anderson in for sarah french. >> christa: and as far as the heat wave, looks like we didn't make it. >> kris: last night was nice. chris. >> chris: humidity in check. we fell short in the city of boston, but just west of the city, plenty of towns hitting 90 degrees. and you folks, the heat wave will continue for day number eight. i think we'll hit 90 again today in boston. quiet today. tomorrow a big change in the pattern. it will be cooler, but we increase the chance of rain. we'll watch for these heavier batches of rain set up because localized downpours certainly a possibility as we get into friday. so we'll look for that. heaviest of the rain. i think it could be more focused down near the south coast of new england. but we're looking at a cooler day for all of us. temperatures into the 70s. not today. we still have the heat. low to mid-90s this afternoon. more on the weekend forecast ahead. >>

anna edwards is at the bank of england. i know mark carney said there would be easing, but there has that hasa lot of data come out that would support a rate cut at the moment. not a lot of data or fax to go on. a bit of survey data says consumer confidence is not looking great. the housing market not looking great. will they decide to wait until they have more data? says the meeting in three weeks, you would have more data than here there is the question on whether they go now or in august. the market does seem divided. 65% of economists talking about expectations of a rate cut today, but many are expecting a cut this summer. tom: how divided is the committee over the aggressive move of a rate cut? anna: it is interesting. to work out how much -- we will get to the minutes, won't we? we will know how divided they are on paper. behind the scenes, how much will they tell us about their division? couple, he has been dovish in the past. will they go for cut? how would they balance being able to be honest about their own person

how did that work in france and england? >> well, you know, in england efs he was part of that group of dr. johnson and others, the coffee house group. and he realized that spreading the word through discussions, through being part of -- even though it was not yet a democracy in england that that was going to help. and his house on craven street, the thing we're celebrating now, with his landlord, a carriage would be there everyday, a small house, you have to visit it but he always tried to bring people together including -- i mean he said the empire is like a noble vase, once it gets broken it will be hard to put back together and so he had some of the great politicians but mainly he had the thinkers. he was the first to realize there was an intellectual class. people like dr. johnson, but david hume, others who were part of the salons he created. when he went to france first of all he learned french very well, unlike john adams who was also there and on the suburbs of paris he creates his printing press he disparages john

could be what the bank of england could bring to their. on the fiscal side, there is an extremely large amount of uncertainty given the political situation in the u.k. it will be hard to imagine any fiscal action. david: michael, it is david weston. as a percentage of worldwide gdp is relatively modest. europe is another thing. what is the effect on europe and how more difficult as mario draghi's job to get those growth rates up to 2%? >> it is more challenging. we do think that the net effect of brexit in our current estimate is to take .5% off your pain growth next year. instead of a slight pickup to 16, we will see a discoloration -- deceleration. this makes the job for mario draghi and the ecb more challenging. you will get more easing into the early fall. there will be extension of qe at the very minimum. we are in an environment where they have limited tools. it is probably not going to be able to stop the shock to the european economy an and it will have an effect. david: what kind of tools does mario draghi have at this point? are

anna: the bank of a ninth -- england announced -- the bank of england announced yesterday that they will lessen the amount of typical buffers they have to build up. i cannot pay that out in dividends. they have to lead it into the economy. rosalind: mark carney said dividends is one way they should not be spending that money. it is capital cyclical cut to zero from 0.5%. it includes the amount banks have available to them to businesses and individuals by as much as $200 billion. ftc also said it was monitoring key risks, including service commercialon in the real estate market, which has taken a hit, and mark carney warned again that the bank of england cannot completely offset the market and economic uncertainty triggered by the brexit vote. there has to be something coming from lawmakers as well. unfortunately at the moment, the leadership in the conservative party is a little bit lacking. that is an disarray right now. anna: just a little bit of disarray. the latest on the u.k. story. from the banklan of england. a plan beats no plan. channeling timothy geithner. angie: it is all mark

yousef: bank of england will decide on interest rates today. expectations are there will be cuts by most of the people we surveyed. the federal reserve expectation there is lower for longer. how does this feed into the gcc monetary picture? >> in terms of overall liquidity and interest rates generally in the market, it could potentially be good news in the short-term. to we are not really here comment on market trends and the like, it's more the fundamental macroeconomics. getef: it's always great to big picture ideas from you. that's benjamin young. still to come, foreign companies have been trying to buy controlling stakes in israel he in sure is but the deals have fallen through. will the latest chinese bid be any different? this is bloomberg. ♪ angie: the chinese pursuit of israeli insurance companies we have stephen engle joining us with more on the story. -- are it's all about transparency or lack thereof. in the past couple of years, for foreign companies from hong kong to new york have tried to buy as aolling stakes, as well competito

. ♪ >> in england, general dwight d. eisenhower and his deputy commanders chart the liberation of the lost continent. they plan when and where the the mighty armies of the united nations will strike. northern france is that battleground. to the building of their defense system, the so-called west wall, the nazis poured the slave labor up conquered nations, pictures made by the germans himself to impress their satellites with the strength and invincibility of their fortifications. ♪ ♪ >> within steel and concrete emplacements for years in the making the germans have amassed , every known weapon of defense, but whether those weapons are enough to face the allied onslaught will be proven in the struggle that lies ahead. ♪ here is the other side of the channel. britain, an armed camp bristling tanks from the united states and canada. here is the fruition of four years of planning and production or if you are the claims of england as the allied armies awaited d-day. ♪ >> locomotives built to run on continental railway

saturday the pick of the weekend not only here in southern new england but up across northern new england. any showers chance across the cape i think tends to favorer later in day verses early. we will get our sunshine at times down across the cape and islands. that's a good put on saturday. forecast. and go into next week. scattered showers lingering on monday. could have a thunderstorm in there. >> otherwise 70ss and 80s much more common for this time of year. guys? >> just ahead now, charges dropped why a prosecutor is decided to stop the remaining trial surrounding freddie gray's death. >> a presidential shooter set for release where authorities will let him live out the rest i'm hillary clinton and i approve this message. donald trump: i could stand in the middle of 5th avenue and shoot somebody and i wouldn't lose any voters, okay? and you can tell them to go f--- themselves! you know, you could see there was blood coming out of her eyes, blood coming out of her wherever... you gotta see this guy. ahh, i don't know what i said, ahh. "i don't remember." >> some new details in freddie

the bank of england's conference is coming up at 11:00 a.m.. "the pulse" is next. ♪ francine: khiem: nyfix what brexit broke yet go the governor prepares to unleash emergency group assembled in the aftermath of the 2008 financial crisis. -- postxit, post course boris. the italian impact. shares are halted after falling 7% in the first hour of trade. the government has a plan. ♪ francine: welcome to "the pulse."

how did that work in france and england? >> i'll do both. well, you know, in england he was part of that group of dr. johnson and all others, the coffeehouse group. and he realized that spreading the word through discussions, through being part of -- even though it was not yet a democracy in england that that was going to help. and his house on craven street, the thing we're celebrating now, with mrs. stevenson as the landlord, there would be that carolina therer from day, somebody would be there. a small house, you have to visit it, but he always tried to bring people together including -- i mean he said the empire is like a noble vase, once it gets broken it will be hard to put back together and so he had some of the great politicians but mainly he had the thinkers. he was the first to realize that there was an intellectual class. i mean people like dr. johnson, but david hume, others who were part of the salons that he created. when he went to france, first of all he learned french very well, unlike john adams who was also there, and on t

bank of england's decision is due 7:00 a.m. eastern time. that is not good news for london. >> we are keeping an eye on that. we are awaiting earnings from jpmorgan chase which is scheduled to report earnings this morning. that's down from a dollar 54 cents of last year. that's largely based on existing conditions, lower car revenue and fewer one-tax benefits. investors will look for the bank's reaction, jpmorgan chase has about 16,000 employees in the uk. nicole: donald trump will announce vice president tomorrow. the presumptive presidential nominee posting the news on twitter. trump meeting with indiana governor mike pence, former house speaker newt gingrich in indianapolis and also with new jersey governor chris christie this week. trump announced with bret. >> chris christie is somebody who i i liked for a long time. a lot of people don't understand that. i'm narrowing it down. i'm at three, potentially four but in my own mind i am probably thinking about two. nicole: here is what trump had to say about governor pence. >> indiana has be

they call england home, really. reporter: around 10% of people in boston now come from eastern europe. overall, there are some three million e.u. migrants in britain. far too many, say the eurosceptics. 75% of the people in boston voted to leave the e.u. -- a clear stance against their foreign-born neighbors. >> exit the european union. brian rush: people are being drawn here because of our high rate of benefits. we earned those benefits. we earned the right. we re-invested in ourselves, that's why this country is a great country. >> what can we lose? >> what have we lost? >> we've lost a lot. all our industries are gone. it's not britain no more, is it? >> it's too much a mixed bag. and we are attracting too many people. yes, the wrong people, the wrong kind. reporter: the voices of the brexit supporters and their populist arguments have prevailed. [laughter] reporter: agnes and zbigniew are disappointed. although they are naturalized british citizens, they feel less welcome now than ever -- like many others. agnes

let's turn to the bank of england story. the bank of england has signaled a rate cut within months as it tries to shield the u.k. economy from the shock of leaving the eu. mark carney says he won't hesitate to act to sure up the situation. the material flowing that the mps identified as a risk now looks likely to be our central forecast. plausible that uncertainty could remain elevated for some time. there is a greater drag on activity them with projected. be impacted byl financial conditions. monetary policy cannot immediately or fully offset the economic implications of the large negative shock. the future potential of this economy and its implications for jobs and real wages are not the gifts of monetary policy makers. these fundamentals will be driven by much bigger decisions, much bigger plans being formulated by others. continue to do is relentlessly pursue monetary and financial stability. why doing so, we will facilitate the adjustments that are needed, consistent with those plans. the economic outlook has deteriorat

a surprise from the bank of england this morning, the bank of england keeping interest rates unchanged. a lot of people were expecting a cut in interest rates. futures pointing to a rally in trading on wall street, and yesterday's record highs dow industrials expected to open up 140 points. in europe, the inaction from the bank of england, take a look s&p 100 giving up a move earlier and now a gain of 12 points. the british pound meanwhile soaring against the dollar right now on the news that the bank of england will not cut interest rates, they're leaving the door open for the next meeting, which is in august. u.s. stocks rallying, the dow and s&p 500 closing at record highs and are poised to open higher on the bank of england designing to leave rates unchanged. despite the fast-moving changes in leadership after the country voted to leave the european union, what's next for the global economy? i want to bring in former federal chairman alan greenspan. thank you for joining us. >> my pleasure. maria: let me ask you about the news of the morning, dr. greenspan. the bank of england not

manus cranny at the bank of england. let's bring in our guest, chief investment officer at restaurants. the new chancellor of the exchequer is speaking this morning. he's indicated that governor carney is doing an excellent job. i would assume, giving the green light for carney to do what he needs to do. how do you think the relationship is going to work? it was very good under the osborne administration. what happens now? >> the same officials will be working with philip hammond that worked with george osborne. i would expect the relationship to remain good. philip hammond is a very experienced politician, a safe pair of hands, not one to spring surprises on the bank. the point that your commentators have made is relevant. carney has got to be very clear about policy as far as the markets are concerned. that is not just about the cut today, which i think is priced in, but where we go from here on in. that is about where we are considering quantitative easing or something more original. that sort of certainty is what mar

how did that work in france and england? >> i'll do both. well, you know, in england he was part of that group of dr. johnson and all others, the coffeehouse group. and he realized that spreading the word through discussions, through being part of -- even though it was not yet a democracy in england that that was going to help. and his house on craven street, the thing we're celebrating now, with his landlord, there would be that carriage there everyday, a small house, you have to visit it but he always tried to bring people together including -- i mean he said the empire is like a noble vase, once it gets broken it will be hard to put back together and so he had some of the great politicians but mainly he had the thinkers. he was the first to realize there was an intellectual class. people like dr. johnson, but david hume, others who were part of the salons that he created. when he went to france, first of all he learned french very well, unlike john adams who was also there, and on the suburbs of paris he creates his printing press he disp

david: plus, bank of england's holding interest rates steady. we will hear from a member of the policy committee. bank earnings continue. wells fargo reports tomorrow. we have a preview of what to watch for. this is bloomberg. ♪ david: this is bloomberg markets. vonnie: time for a look at some of the biggest business stories in the news. france is warning the european commission head not to take a consulting job at goldman sachs following the brexit, some are considering it an act of the trail to the eu ministers are free to take new roles after -- 18 months after leaving. job,pes to take the despite having left his post only 20 months ago. the country's central bank confirmed by phone that zimbabwe has not paid a dime of what they oh the imf, the world bank, or the african development bank. mediating asec is feud between service providers and broadcasters which has been outages ongram and paid tv. the fcc says they will not rewrite rules to accommodate either party. hireders are looking for charges to offset rising revenue costs and sluggish

and when the bank of england is forecast by many to lose in policy. according to our world interest rate probability function. there's a 100% chance it tell us that is the banks will cut rates to at least .25%. that's the breaking news. this is bloomberg. ♪ mark: live from london, i'm mark barton counting you down to the european close about expect hinz away. vonnie: and i'm vonnie quinn. mark: italian aerospace john leonardo is rethinking its blueprint for europe after the june brexit vote. i sat in with the chief executive to discuss in an exclusive interview. >> i think that the u.k. government know perfectly that toa convenience for the u.k. use the high quality -- that they have in the nuck the sector nd we can provide a lot of resources and particularly capabilities. mark: will you continue to invest in the u.k.? does brexit make you rethink your investment plans? >> we have the investment plan particularly in the electronic curity and -- we are discussing with the government. i hope that we can reopen the iscussion. i am thinking particularly

he has to, because it is all he has got, a new england army. he has some people from the middle colonies that join. rose: he takes command at age 43. mccullough: had never commanded an army in battle before in his life. he says to congress, i am not the man for this job. i am not qualified. he also knew he was better than anybody else they could pick. they choose him not because he is a great general. they know he fought in the french and indian war and had a distinguished record. they pick him because they know him as a person, and they know him as a politician. he is a political general, and that is sometimes used in a dismissive or a less than complimentary way. we should thank god that he was a political general, because he never forgets who is boss. congress is boss. rose you have washington at 40 : -- 43. he goes to the constitutional convention in a uniform, even though he is saying, i am not the man. mccullough: he is signaling he is available. rose: you have that contradiction. mccullough: yes and no. he is being honest. he is ready to

front drops at us from northern new england. it's this front that's going to bring the potential for showers and thunderstorms through northern and central new england in the afternoon and by evening, to southern new england. see that come this way. we'll be watching those isolated showers starting to pop up here during the evening hours. of course, i'll be tracking them for be sure you have the fox 25 weather app for you. then the clouds start to are really take over later overnight tomorrow night into friday morning. that's when we have to start talking about some more significant rain. let's stop there and talk about the lunchtime temperatures. around 90 at lunch tomorrow. low 90's, metro west. 89 boston and plymouth and 80's out on cape cod. high temperatures getting into the 80's out here, provincetown to hyannis and falmouth, 82 degrees. farther north and west you go, 91 bridge water. southwest from falmouth to sandwich, it's going to be warmer on that side, blowing across the land. not quite as warm as inland areas, but g

the new england thruway on the southbound side we have that problem. that is on the southbound side of the new england thruway near exit 16. you can see the right lane is getting through in this spot. that's on the southbound side at least. let's go to the maps and we will talk subway status. 5 trains, f trains, signal problems. one train with signal problems at 207th street. jersey city both ways on 1 and 9 between sea can you custody, flooding, all lanes are closed in that spot. b.q.e to cadman plaza, flooding. extremely heavy delays through that spot. trailer fire. check out the long line of traffic up into that scene. mass transit is a great way to go. long island railroad, metro north, street cleaning rules are in effect. >>> a frightening robbery in brooklyn. office workers tied up by masked men. we are hearing reaction from williamsburg. >> see where nypd officers made after the financial crisis in 2008, several people i know had to leave the neighborhood because they could no longer afford, rt to pay one's mortgage, or pay one's rent and any li

and england is take it seriously. >> days after voting to get out of the e.u., england is out of the european soccer tournament. >> one of the greatest days in the history of football. iceland are in the quarter finals. >> 2-1 loss to iceland last night will go down as the worst moment in england's football history. >> trevor: wow the worst moment in england's football history. they've had tragedies where people died and this is the worst moment? that is a smart move crying into the ground. the guy is just, like, i may have let my country down but i'm not ending up as a bloody meme! hide my face! (laughter) i don't think you understand how big an upset this was. this was the first time iceland ever qualified for the european cup. nobody ever expected them to get this far. unlike england whose manager has millions, iceland's manager is a dude who works a part-time dentist. in england, went home crying, he gave them

he has to, because it is all he has got, a new england army. he has some people from the middle colonies that join. mr. rose: he takes command at age 43. mr. mccullough: had never commanded an army in battle before in his life. never. and he said to congress, i am qualified for this job. i am not the man. but he also knew he was better than anybody else they could pick. and they choose him not because he is a great general -- they know he fought in the french and indian war and had a distinguished record. they pick him because they know him as a person, and they know him as a politician. he is a political general, and that is sometimes used in a dismissive or a less than complementary way. we should thank god that he was a political general, because he never forgets who is boss. congress is boss. mr. rose: you have washington at 43. he goes to the constitutional convention in a uniform, even though he is saying, i am not the man. mr. mccullough: he is certainly available. mr. rose: you have a contradiction there. mr. mccullough: yes and no. he

how did it work in france and england? walter: you know, in england he was part of that group, the dr. johnson and others, the coffeehouse group. he realized that spreading the word through discussion, through being part of the group, even though it was not yet a democracy in england, that that would help. and his house, with mrs. stevenson as a landlord, there would be his carriage there. every day, somebody would be there. he always decided to bring people together, including -- he said, the empires like the noble days, it once broken would be hard to put back together. he had great politicians, but mainly he had thinkers, he realized there was an intellectual class. people like dr. johnson and others that were part of the salons that had created -- when he went to france, he learned french very well. unlike john adams, who also was there. and he created his printing press. he disparaged john adams because he was aloof in what was part of the people in paris. he said john adams learned books by studying grammar and that

and was the bank of england wrong to wait? surveillance discusses that in just over an hour. ♪ manus: let's get you a bloomberg business flash. nejra cehic. nejra: u.k. unemployment has fallen below 5% for the first time in more than a decade. the jobless rate dropped to 4.9%, the lowest since 2005. economists expected it to stay at 5%. after a pokemon go rise that saw nintendo's market value more than double, shares slumped by more than 12%. at one point, they saw their biggest fall in 26 years. earlier, tech crunch, citing a person close to the plan, said the companies behind pokemon go decided to cancel today's launch in japan due to concerns that hype generated will overload the app. visio massive management plans to fire 33 employees in new york. that is as the firm liquidates hedge funds following charges against three former employees. according to a person with knowledge of the matter, the firm has been notifying affected staff. that is the bloomberg business flash. manus: thank you very much. john kerry has made it

expressing his confidence in the bank of england. erik schatzker: there are a lot of tools and they have the objective to preserve the power and growth of the u.k. economy and they will do that in part with how they regulate the banks going forward. mark: the bank had no sense of concern. there is concern about earnings. much more on that. european stocks, 35 minutes away from the friday close. what a week this has been. it has gained by 7.5%, six-day drop since the briggs it is -- .rexit is still lower four-day rally for the ftse, the biggest since 2008. this is bloomberg. >> it's 11:00 in new york, i'm vonnie quinn. barton, 30mark minutes left in the trading day. you are watching the european close on "bloomberg markets." ♪ york to're live in new london in the next hour, plus covering stories around the globe in austria, silicon valley, puerto rico, here's what we're covering today. yields on 10 and 30 year u.s. treasury's falling to record lows. they join a rally of bonds around the world as some of the world's biggest investors

first at six, a soggy start all across new england, but the sun afternoon? we are not done with the wet weather just yet. the chief meteorologist jr is joining us. jr, is a showing up now? >> we did have a batch of beneficial rain this morning. for some of you, especially along if you of sunshine for the few hours. here is rain that will slowly move across southern new england. more so overnight. the first batch this morning, beverly, a couple of downpours just under an inch of rain. orange, just under an inch of rain, and here in boston, .15 in the bucket. we do need more rain. we don't need so much rain that at least two flooding, but we faced all that weather system producing waves of rain. there is a good one slated to come through overnight tonight. and on and off through the day scattering of showers. again, not an all-day rain, which would be nice for the drought, but we will take what we can get it to have them continuing through tomorrow, through tomorrow night, perhaps as late as tuesday morning. and then, drier air shows that by tuesday afternoon.

you know, in england he was part of that group of dr. johnson and all others, the coffee house group, and he realized that spreading the word through discussions, you know, through being part of the company, even though it was not yet a democracy yet in england. that that was going to help. and his house on craven street, the thing we're celebrating now, with mrs. stevenson as the landlord, there would be that carriage there, and every day somebody would be there, small house. you got to go visit it. but he always, sort of, tried to bring people together, including -- and he said the empire is like a noble vase. once it gets broken, it is going to be hard to put together. and, so, he had some of the great politicians, but mainly he had the thinkers. he was the first to realize that there was an intellectual class. i mean people like dr. johnson, but david hume and others, were part of the salons that he created. when he went to france, first of all, he learned french very well, unlike john adams who was also there. and in poci, as i said

the bank of england will start on selling the pound. the moment we are going to focus on the domestic recession. mark carney will be an acting the monetary policy to avoid a deep recession. most economists forecast roundabout 0% growth right end of this year or technical recession which is defined as two consecutive quarters of negative growth. that is where we are at at the moment. what to see the treasury and bank of england try and help the economy with as little pain as possible. that is what the market is focused on at the moment which is why think the pound will not rebound anytime soon. francine: i want to ask you about yields in the second. in the meantime, how much do we know about george osborne's plan ? he was talking about a possible cut in taxes, and then we understand austerity is being postponed. the surplus he was aiming for 2020 is no longer his aim. about thetalking potential for a corporate tax cut, trying to make britain and appealing place if you are a business. george osborne may not be delivering. francine: what d

not just the uk in england. there are questions about the euro and how merkel and the germans respond. that uncertainty will increase volatility in the marketplace. anthony: six exchange -- fixed exchange rates do not last. the euro was a fixed exchange rate among those nations. do you think it's sustainable long term? >> i think it will come down to germany and what comes out of merkel and how the germans respond to this. i think from a larger policy perspective. what they tried to do in europe the last few decades is a good thing. i think pulling markets together, increasing trade, we have pressure on trade all over the world it's in the u.s. election. by and large a globalizing world with free trade and flee movement of capital and labor. that's a better thing for humanity. we need to make sure we are dealing with the people who feel that's not working for them so we don't end up having countries retract, trade decline. the short answer is i think it could hold together. because you are dealing with one of th

we thought there would be beneficial train for much of new england but tracked just south of new england. new hampshire picked up an inch of a rain, spencer a third of an inch of rain. the city of boston .06 of an inch of rain. moisture. dew points in the 60s to around 70. at least we got rid of the 90-degree heat. this weather systems extending into ohio, so the chance of rain still with us through the weekend. >>> also on 7, police are looking for a suspect after someone broke into a home and sexually assaulted an elderly woman who lived there. jonathan hall is live for us with more on this investigation. terrible story here, john police are warning the public now about this dangerous guy. a sergeant here tells me he cannot recall a similar violent break-in here in the town of hingam. an elderly woman they will only describe as being over age 70 called 911 about 9:00 p.m. last night reporting a stranger broke into her house and sexually assaulted her. >> the suspect had fled out the that's what allowed her to call 911. our officers responded there, several officers including a k # offi

in england, catholicism meant the spanish armada and louis xiv. england could swallow a catholic king but not a string of them. so after james had a son in 1688, the nation rose up and it offered the crown to william of orange, who was james' nephew and son-in-law. he married his elder daughter, mary. the family, the house of stewart was like the sopranos in terms of its internal dynamics. and william accepted as a condition of being king of england a bill of rights, which parliament passed in 1689. these were going to be the rules for his rule. he was announcing that these were the principles that would guide him. and this was an advance on the magna carta, the right of petition was extended beyond baron s and trial by jury was reaffirmed, especially for trials for high treason. and the right of protestants to have arms for their defense. now, one of the fears about james was that he was filling the senior ranks of the army with catholic officers and people feared there would be a religious coup. so the right to bear arms was put in writing for p

. >> and he ardently dislikes new englanders. he thinks they're dirty and unrule y. they have the unfortunate idea they like to decide things for themselves, which you can't have if an army, but he overcomes that bias, which is a big inner struggle, he has to, because that's all he's got, a new england army. he has some people from the middle colonies who joins them. >> rose: he takes command at 33 in '75. >> he said to congress, i'm not the man. but he also knew he was better than anybody else they could pick and they choose him not because he's a great general. they know he fought in the french and indian war and had a distinguished record. they pick him because they know him as a person and as a politician. h he is a political general, and that's sometimes used in a dismissive or a less than complimentary way. we should thank god that he was a political general because he never forgets who is boss. >> rose: so we have washington at 43. he goes to the constitutional convention, though, in a uniform. >> yes. >> rose: even though

football history. >> trevor: wow the worst moment in england's football history. they've had tragedies where people died and this is the worst moment? that is a smart move crying into the ground. the guy is just, like, i may have let my country down but i'm not ending up as a bloody meme! hide my face! (laughter) i don't think you understand how big an upset this was. this was the first time iceland ever qualified for the european cup. nobody ever expected them to get this far. unlike england whose manager has millions, iceland's manager is a dude who works a part-time dentist. in england, went home crying, he gave them sugar-free lollipops -- you were very brave! (applause) my favorite part wasn't the part-time dentist manager, ults the full-time crazy icelandic announcer. (screaming) (unintelligible) (trevor mocking) that's the commentator! it sounds like someone is killing him in the announcer booth, but he's so committed to rise job that he doesn't stop commenting on the game! (screaming) i'm dying now! so much madness. one small group changing history to anot

careen from all directions and that is embedded in the play that is perfectly replicating the time in england when he happened to be of life. >> hit me upon twitter because it's your birthday i will throw you a party. >> i am asia huge shakspere free and. when i hear about him going into modern english i was torn because i thought maybe it is a step up but then i am thinking in insult does that take away the studio or the mystery as you come back of coming to shaur life? do you have to be politically agnostic? have to b >> if it turns up to the grey art he launched a thousand ships and that ise is terrific but they're also think we probably don't have to defend the him as a greatably writer because he is so successful even if you go to see these plays with something phil because i eating grass that plot it is hard to keep you away from the original.rd so i go with the fact we keep coming back is certainly we want to collect the script from this initiative because we want to know about that whole legacy but we don't have to handicap him at all he is d just fine. >> in response to that question

data for instance the workers of north england, ya? what is happening is they will be losing in relative terms much more from not being in the single market than the city of london. the city of london can go offshore, whatever, but the english workers will not survive and despite that fact they voted u.k. because they were told that they would win. there is the slogans. they don't have the answers. that has much to do with losers of globalization which are simply not educated enough to understand the complexity. therefore you have these results. it is pitiful. i agree you would have a better use which is standing up for the future. >> the populace might not have the answers but they have the momentum. more and more people across europe are turning to empty e.u. parties. what should be the response from brussels? >> this is possibly the time, so far we've been talking about the british isles but what should the e.u. do? we all agree and everyone says the e.u. must reform itself. hat does that mean, however? my worry is you have at least

not just the uk in england. there are questions about the euro and how merkel and the germans respond. that uncertainty will increase volatility in the marketplace. anthony: six exchange -- fixed exchange rates do not last. the euro was a fixed exchange rate among those nations. do you think it's sustainable long term? >> i think it will come down to germany and what comes out of merkel and how the germans respond to this. i think from a larger policy perspective. what they tried to do in europe the last few decades is a good thing. i think pulling markets together, increasing trade, we have pressure on trade all over the world it's in the u.s. election. by and large a globalizing world with free trade and flee movement of capital and labor. that's a better thing for humanity. we need to make sure we are dealing with the people who feel that's not working for them so we don't end up having countries retract, trade decline. the short answer is i think it could hold together. because you are dealing with one of th