boomlet first word news, we go to mark crumpton. mark: president trump not backing down on his criticism of baltimore. the president said today that people living there are "in hell" and that it is a corrupt city. he also said billions have been stolen and called on democratic congressman elijah cummings to invest in the city. it is around two of the democratic presidential debates over the next two nights in detroit. 20 residential hopefuls will square off on cnn. tomorrow features a rematch between joe biden and kamala harris harrah's moved up in the polls after attacking biden on race related issues in the first debate. kevin cirilli is in detroit covering the debates. we will be hearing from him throughout the day. law enforcement officials are urging event organizers around the country to review their emergency plans after a deadly shooting at a deadly california food festival over the weekend. open air environments popular in the summer and fall are notoriously tough to secure. experts recommend a number of tactics including p

we turn to mark crumpton. mark: congress and the white house are closing in on a debt ceiling in budget deal but the house leaves this week for the summer break. the trump administration still wants $150 in long-term spending cuts as part of a permanent deal . in puerto rico, hundreds of thousands of people are taking to the streets to protest the governor. the governor is refusing to quit but says he will not seek reelection. he is under fire after the leak of an obscenity filled online chat he had with allies and on -- and federal construction charges have been leveled against his administration. the u.k. chancellor of the exchequer philip hammond says he will quit wednesday and forced becomes the next prime minister. johnson is favored to succeed theresa may. he has insisted members of his government support a no deal brexit with necessary. if necessary. hammond spoke to the bbc. >> i cannot accept the idea of leaving with no deal on october 31. both candidates said they want to get a deal and i will suppor

mark: i'm mark crumpton with bloomberg first word news. while en route to new hampshire, vice president pence's plane was diverted in flight and return to washington. a spokesperson released a statement saying there was no cause for alarm. a white house official says the vice president is now in the west wing. germany's federal office of justice has find facebook. officials say the social media giant violated germany's network enforcement act. the company allegedly gave incomplete information regarding complaints of unlawful content on the site. facebook can appeal the fine. european union leaders may make imf managing director christine lagarde the next president of the european central bank. that's according to officials briefed on the talks. name is one of the key pieces in the slate of legislative candidates. there is officials have been wrangling over the job since sunday. it looks like nasa successfully tested the emergency abort system of the orion spacecraft. the ride is supposed to take astronauts back to the moon. less than a min

that's mark sanford. we going out to mark crumpton. she: nancy pelosi says still wants a debt limit deal this week to give the house time to pass the measure next week before the august recess. pelosi and chuck schumer spoke with steven mnuchin today. the speaker pushed back on suggestions that congress could rely on a short-term debt ceiling fix if the broader negotiations fall through. iran says it has no choice but to manufacture missiles for defense purposes. today's comments by the country's foreign minister reflect more backtracking after his comments earlier this week suggesting missiles could be up for negotiation. iran has long rejected negotiations over the missile program which remains under the control of the armeni iranian paramilitary guard. set toame restoration begin nearly three months after the fire destroyed the monument. the chief architect said the safety and quality of the repairs is what counts, despite emmanuel macron's goal of completing the work within five years. slow-moving remnants of what was hurricane bar

i'm mark crumpton. this is bloomberg. sheryl: thank you. u.s. and chinese trading go shaders coming face-to-face for the first time since may after the last round of talks broke down. the stage is set in shanghai for a restart. u.s. trade representative robert and steven mnuchin are traveling to china but may be up against the same set of sticking points. itning us now is the former deputy director of the economic counselor. the firm intner at washington. we are now hearing that china's commerce secretary may join the stalks and shanghai. he is known to be more of a hardliner. how challenging will these negotiations be question mark >> they will remain challenging. the reality is, for the last 2.5 months, the sides of not been talking about the real issues. they haven't talked about structural issues. see whenhuawei will they start talking about the structural issues again, can they start from the baseline of where they were in may or will they take a step backward? it's important for the u.s. to get back to where they we

i'm mark crumpton. this is bloomberg. it is 1:00 in new york, 6:00 in london, 1:00 in hong kong. i'm shery ahn. welcome to "bloomberg markets." from bloomberg world headquarters in new york, here are the top stories on the bloomberg and from around the world we are following. restarting the ipo engine. saudi arabia reviving preparations for a potential aramco ipo, after months of putting the planned listing on hold. the u.s. is intensifying its trade fight with the eu over aircraft subsidies. the administration is proposing new tariffs on eu goods worth about $4 billion. a monster month for fiat. truckof the ram pickup almost catch up to the top-selling truck in america. we have the latest in auto sales. halfway into the trading day, let's get to abigail doolittle. a down day for equities and yields. abigail: small losses at this point for the major averages. all down about .2%. earlier up a little bit, so investors wishy-washy after all the news around the trade truce, and the rally we had yesterday. look at the underper

i'm mark crumpton. this is bloomberg. in his 1:00 in new york, 6:00 in london, 1:00 a.m. in hong kong. i am vonnie quinn, welcome to "bloomberg markets." from bloomberg world headquarters in new york, here are the top stories around the world we are following. all eyes on fed chair jerome powell as the fomc is poised to cut rates, even as the economy shows signs of strength. pfizer and mylan's drug deal. theer will combine with generic drug business which could trigger more movement in the pharmaceutical space. the cat is out of the bag and victoria's secret. the lingerie retailer is struggling with its image now with ties to jeffrey epstein. abigail doolittle is here. halfway into the trading day. >> we are off the lows to some degree, ahead of the fed on wednesday. investors eagerly awaiting to rate cutthe potential decision will yield. right now, the dow up 1.25%. the nasdaq down half a percent. a bit of a reversal from last and nasdaq&p 500 retreating from all-time highs. the vix popping ever so slightly, but very sma

mark: i am mark crumpton with bloomberg's first word news. president trump says he can win the war in afghanistan in a week but does not want to kill ipe afghanistanite off the face of the earth. mr. trump is trying to persuade pakistan to help get a deal with the taliban that would end america's longest war. waving flags and banging pots and pans, tens of thousands of puerto ricans filled a highway today to demand the resignation of the governor. today's demonstration came 10 days after the leak of nearly 900 pages of online chats between the governor and some of his closest advisors. in the conversations, they insulted women and mocked constituents, including victims of hurricane maria. he is refusing to step down. house republicans are pledging tough questioning of robert mueller when he testifies before congress this week. the house judiciary committee and house intelligence committee will? in separate hearings on his report into russian

i am mark crumpton. bloomberg. david? david: imf chief christine lagarde is the nominee to be the new head of the ecb. even before it was official, people were talking about what she would bring to the position other than economics. >> she is very political, she is wise, and i would assume she has the best economists that can help her with this. she is not known as one of the leading economic minds. she is a political person. >> certainly, from a communication point of view, she would be up to the job and probably doing an excellent job in the future. jacob: we would -- david: we welcome jacob kierkegaard, peterson institute senior fellow. you heard, and it was not meant as a criticism, that we know christine lagarde is not a trained economist. she was trained as a lawyer and than she was finance minister in a critical time for france. an ecb president more political and more involved in communications? .acob: honestly, yes we need to recognize that mario draghi is going to launch another monetary stimulus package in the

i'm mark crumpton. this is bloomberg. of theround two democratic presidential debates takes place in detroit on july 30 and july 31. with a lineup now set including matchups of elizabeth warren and bernie sanders on the first night and joe biden up against kamala harris on night to. we welcome a republican strategist and in washington matt bennett, a former deputy assistant to president clinton. let me start with you, matt, in washington. his joe biden going to be ready for kamala harris this time because he did not seem to be the first time. night andad a rough he better be ready. , harris will be ready. she will be prepared. i think he will. joe biden, this is not his first rodeo. he has debated twice at a very high level in the vice presidential debates and many more times in various contexts. he will look back on his first night and make adjustments. it will be interesting to watch them. this process, at is this the best way to come up with the best candidates? >> there is no sure way of doing this. if you look at how

mark: i am mark crumpton with bloomberg first word news. protests in hong kong are escalating as police clashed with demonstrators. police are using tear gas to disperse the demonstrators, some of whom have smashed their way into the city's legislative building. pro-democracy lawmaker jeremy tam told police no protesters were left inside the building. protesters are trying to get the hong kong government to withdraw a controversial extradition bill. u.k. foreign secretary and conservative leadership contender jeremy hunt said today that he would decide whether a brexit deal can get through the house of commons by september 30, if you became prime minister. that a speech in london outlining his plan for brexit, he said he would ramp up no deal preparations on day one if he was elected. >> what if the european union refuses to budge? we need a comprehensive no deal plan. is about more than slogans, more than believe, more than positive inking. you cannot leave the european union on a wing and a prayer. you need a plan. nok: he added if there

i am mark crumpton. is bloomberg. david? president trump named himself a progrowth president and predicted that things like the tax cuts would grow the economy at rates not seen in years. >> the economy has hit 3%. nobody thought we would be anywhere close. i think we go to 4% or maybe even 6% ultimately. david: 6%. not quite there yet. u.s. gdp slowed to 2.1%, a smaller drop than forecast but a number that makes the trump economy look a lot more like the obama economy. a partner at lowenstein sandberg and president of democrats for educated reform and a partner at k2 and company. she served as communications director for scott walker's 2016 presidential campaign. welcome to both of you. president trump has embraced growth for the country as well as jobs. he has promised a lot, but at the same time it is growing 2.1%. is that good enough for republicans in 2020? >> the president himself thinks that is probably not good enough. he is aiming higher. that is what he has going for him. a lot of people believe the economy is goin

we turn to mark crumpton in new york. mark: billionaire financier david epstein will remain behind bars as he awaits trial. a judge in new york has denied epstein bail. prosecutors's have argued epstein is a flight risk and an unrepentant criminal. congress may be a step closer toward an agreement on the debt limit. one democratic eight says lawmakers have reached a compromise on running for veterans health care as a part of the debt limit talks. the treasury department has said that unless congress acts, the government could run out of money to meet payment obligations in september. eu economic affairs commissioner says policymakers need to talk about how to respond to the global slowdown. he spoke with bloomberg at the g7 meeting in chantilly, france. thing but weone have to reflect on fiscal policy. it is high time we built the right policy because what we see today is a slowdown in the economy everywhere and also the need to address various risks that could come together. also expressed concerns about facebook's digit

i'm mark crumpton. this is bloomberg. it is 1:00 in new york, 6:00 in london, 1:00 a.m. in hong kong. i'm shery ahn. welcome to "bloomberg markets." from bloomberg world headquarters in new york, here are the top stories on the bloomberg and around the world we are following. knee deep in earnings. by the end of today, more than half of the s&p 500 will be on with quarterly results. meanwhile, we expect the fomc decision tomorrow. hisco's president says country's interest rates are too high. we have the exclusive interview. it is said to be one of the biggest cases of corporate collusion in history, and it's costing patients billions of dollars. more on the massive generic drug cartel. let's get started with a look at the markets. abigail doolittle, we continue to see downward pressure. abigail: we are looking at small declines for the major averages. a second down day in a row. continuing to retreat from the all-time highs we saw last week but well off the lows. with earnings, the head of the fed trade talks all a factor

we turn to mark crumpton for first word news. mark: lawyers for jeffrey epstein argued today he should be released on bail. prosecutors say the financier is worth half $1 billion and therefore is a flight risk. several more women have contacted them in recent days to say jeffrey epstein of use them when they were underage. the judge will rule on thursday. the white house is moving to end a silent for most central american migrants. that asyluml state seekers who passed through another country first will be ineligible for asylum. the rule which takes effect tomorrow also apply to children who cross the border alone. the policy is certain to face a legal challenge. in louisiana, more than a foot of rain is falling, prompting flash flood warning's in that state and mississippi. today's rainfall was among the heaviest seen so far after barry struck louisiana as a week hurricane. the storm overwhelmed sewer systems in alabama, causing sewage spills of more than 250,000 gallons. it has been three decades since the chinese economy grew

i'm mark crumpton. this is bloomberg. david? david: the administration continues to work on a trade deal with china, but in the meantime its deal with canada and mexico still sits in congress. we welcome marc short. marc: thanks for having me back. david: give us a peek at your game plan. when congress gets back in session, how do you get this through congress? ambassador lighthizer has believe in the administration on capitol hill, and he has had a large number of productive conversations with democrats. the challenge is house democrats . if you look at the vice president's travel and the case he is making across the country, in many cases to democrat districts, reminding constituents this is a better deal and they need to get their congressman to weigh in. speaker pelosi holds the keys to the kingdom. it is up to her when she wants to bring up a vote. we believe the votes are there to pass it. the question is will she do it. there are a lot of democrats who are in districts that benefit from this. it is not the chairman of the

we turn to mark crumpton for bloomberg first word news. mark: as our rob hutton told us a moment ago, britain's new prime minister boris johnson promising the u.k. will leave the european union on october ands, or buts." prime minister johnson tried to persuade the public to back him, saying the time has come to act on the nation's departure from the european union. lawmakers are getting their first chance to question former special counsel robert mueller. robert mueller's testifying before two house committees. he was asked about russia and collusion in the 2016 presidential campaign. >> our investigation found the russian government interfered in our election in sweeping and systematic fashion. second, the investigation did not establish that members of the trump campaign conspired with the russian government in its election interference activities. added thert mueller report did not exonerate president trump when it came to obstruction of justice. in other news, the federal judge says the trump administration can enforce its new restric

mark: i'm mark crumpton with bloomberg's first word news. johnson addressed conservative members of the parliament after he was elected the new prime minister today. johnson is preparing to take over as you keep prime minister on wednesday it is facing a new civil war inside of the party of her brexit. he will have over three months to make good on his promise to leave the u.k. out of the -- lead the u.k. out of the european union by october 31. moment inthis pivotal our history, we again have to consult two noble sets of instinct between the desire of mutual support it security and defense between britain and our european partners, and the simultaneous desire, equally deep and heartfelt, for democratic self-governance. mark: johnson won two thirds of the vote across the u.k. he will become prime minister once queen elizabeth formally asks them to form a government replacing theresa may. federal safety officials in the to. say that the period implement a system that was delayed seven times in the past decade contributed to a deadly wreck in

i'm mark crumpton. this is bloomberg. ♪ life from bloomberg world headquarters in new york, i'm shery ahn. alix: live in toronto, i am amber. but them to bloomberg markets. we are joined by our bloomberg and vmm and bloomberg audiences. hear the stories we are following from around the world. is wrappingy powell up a second day of testimony on capitol hill with the market rallying in hopes of a rate cut later this month. we will be alive from the allen and company conference in sun valley, idaho. nhlng up, an interview with commissioner, gary bettman. the white house abandoning a plan to eliminate drug price rebate. before we get all of that, let's check on the major averages did we will start with the s&p, dow, and nasdaq. the s&p 500 being coy about its commitment to finish at 3000. it has retreated at certain points. the dow jones industrial average a little mortified bashar little more decisive. -- the dow jones industrial average a little more decisive. we're looking at the highest yield in about

i'm mark crumpton. this is bloomberg. >> live from bloomberg world headquarters in new york, i'm vonnie quinn. amanda: i'm amanda lang in toronto. welcome to bloomberg markets. here are the top stories we are following from around the world. the new york fed president john williams and vice chair richard clarida says don't wait for the economy to enter a downturn before cutting rates. the new york fed walked back the comments. the latest in the great rate debate. and an interview with robert strayer, about how the u.s. is trying to win the battle for 5g. day as wetoric remember the 50th anniversary of apollo 11 landing on the moon. a look at how far we have, and how virtual-reality could help nasa kickstart new journeys. flat on the s&p 500. will we make it back to 3000? the dow is happily sitting on a quarter of a percentage point gain. the nasdaq up just four points. also looking at microsoft. it was one of those earnings reports that pleased analysts and investors. the stock was higher for the sessio

i'm mark crumpton. this is bloomberg. live from bloomberg world headquarters in new york, i'm vonnie quinn. >> live in toronto, i'm amber kanwar. are the top stories we are following from around the world. earnings report card. what does it mean for u.s. companies? insight next week as the banks kickoff earnings season. the leading edge of tropical storm barry is reaching louisiana. landfall is expected tomorrow morning. we are live in new orleans with how the gulf coast is bracing for the storm. ev engine. that cooperating on self driving technology. we will talk to the new ceos about the alliance. let's get a quick check on the major averages. it has been an up day for the most part in the u.s. it looks like we may creep to want to close and stay above it, which would be an important psychological level. the dow is up half a percent. .4%.asdaq also rallying, j, down in ion j& the session, now down 4.8%, on word there is a grand jury investigating what executives knew and when as it relates to talcum powder and this pest

i'm mark crumpton, this is bloomberg. david? david: thanks, mark. bipartisanship roque out with washington this week, where the president announced a deal with both parties to lift the deabt limit for the next two years. we welcome now a member of the senate budget committee, ravenna public and senator mike braun from indiana. great to have you with us. sen braun: good to be on, david. david: for a couple of years we will not have to deal with this, but at the same time it came at a cost. was it a good deal, despite the fact we are running up the deficit? sen braun: the benefit of being a freshman legislator now, i was one back in indiana about four years ago. i know how the system works. i come from main street as an entrepreneur, and of course we do things more quickly. get the problems way ahead, unless the marketplace -- or else the marketplace takes you out. i was disappointed. they knew where my vote was going to be when i got here in the first place. i voted on -- i ran on trying to make this place run more like main street. it was such a cou

i'm mark crumpton. this is bloomberg. ♪ shery: live from bloomberg world headquarters in new york, i'm shery ahn. toronto, i'mife in amanda lange. we are joined by our bloomberg and the nm bloomberg audiences. here the top stories we are following. how low can write go? jp morgan acids manager and says yields on 10 year treasuries can fall all the way to zero. plus, our conversation with the former prime minister of canada. his view on global corp. -- global cooperation and the rise of protectionism. amazon's financial future may be in the cloud. mullins.ve with scott let's get a check on the major averages. it sure did look as though it was earnings and not trade talks driving the action today. we check out the averages, and we can see it is pretty lackluster. s&p 500 off the lows of the session, we are seeing a couple key pockets of moves up and down based on earnings. philip morris with 8% at one point. we did see a rate from the philly fed factory surging. financials were up. consumer staples were

i'd rather not. ♪ >> i am mark crumpton with bloomberg's first word news. special counsel robert mueller is confirming that the president can be charged with crimes after leaving office. he says that justice department guidelines prevented him for chargesng against president trump while he is in office. theler says quote, "one of tools a prosecutor would use is not there." he told the house judiciary committee this morning that his investigators cannot exonerate the president on obstruction of justice. 's report says they did not find sufficient evidence -- his report says they did not find sufficient evidence. >> you believe that he committed, you could charge the president of the united states of justiceuction after he left office? >> yes. olc opinion says that the prosecutor cannot bring a charge against a sitting president, nonetheless, he can continue the investigation to see if there are any other persons who might be going into the conspiracy. mark: before

i'm mark crumpton, this is bloomberg. shey: live from bloomberg world headquarters in new york, i'm shery ahn. and i'm in for amanda lang. we are joined now by our bloomberg audiences. your other the top stories we are following from around the world. sherry: mario draghi has set around of monetary stimulus this fall to combine what is a worse and worse out look for the block. alphabet and amazon are set to report their earnings after the bell. investors are watching. dreaming of weekends away in the hamptons? hurry, vacation home listings are surging in new york's premier beach. let's get you a quick check of our markets in the afternoon session. u.s. stocks under pressure after wave of corporate earnings, the s&p 500 down .5%. tech stocks, ford slumping at the moment on weak forecasts. inry sector in the s&p is the red, being led lower by energy and materials. we also have the nasdaq down do0 of 1%, but it is also to with the ecb president being a bit less dovish than the market had expected. the euro swinging through g

mark: i'm mark crumpton with bloomberg's first word news. president trump threatening retribution against guatemala after the country blocked in asylum deal with u.s. the president spoke at the tournament point student action summit in washington today .----- signey are supposed to this and they went back, so we are going to do tariffs or we will do a form of tax, or we will use our an. -- ban. mark: it would've required central american migrants to apply for protections in guatemala instead of the u.s., even though that government never said it agreed to make such a deal. army veteran and former defense industry lobbyist mark esper has been confirmed by the u.s. senate to be the nation's new secretary of defense. won bipartisan support today with a will of 98-8. the post has been vacant since september.

mark: i'm mark crumpton with bloomberg first word news. labor secretary alex acosta has responded to the controversial plea agreement he brokered with accused sexual trafficker jeffrey epstein. brokered a plea agreement in secret with epstein that allowed them to escape serious punishment for earlier allegations of sexual misconduct. acosta was a u.s. attorney in south florida in 2008. the secretary issued a statement which he said in part, "now that new evidence an additional testimony is available, the new york prosecution offers an important opportunity to more fully bring him to justice." the president also responded to the recent revelations. >> has been a really great secretary of labor. the rest of it we will have to look at it very carefully. you are talking about a long time ago. it was a decision made, i think, not by him but a lot of people. mark: secretary acosta also said epstein's crimes are horrific. israeli prime minister benjamin netanyahu is giving a firm warning to iran one day after enriching uranium limits the on the 2

mark: mark crumpton with bloomberg first word news. in hong kong are escalating as police clash with demonstrators. police are using tear gas to disperse the demonstrators, some of whom have smashed their way into the city's legislative building. pro-democracy lawmaker jeremy tam told police investors were left inside the building. trying to get hong kong to withdraw a controversial extradition bill. mr. tam told police know protesters is my left in the building. protesters were trying to get hong kong's government to withdraw a controversial extradition bill. critics say president trump's meeting with kim jong-un shows how little north korea has conceded on it clear program. mr. trump became the first sitting u.s. president to step foot inside north korea. met at the demilitarized zone and agree to restart nuclear talks. those talks have gone nowhere since the president walked out of a meeting with kim in february. leaders in the european union failed

he was 89. ♪ mark: i'm mark crumpton with bloomberg first word news. mitch mcconnell faces a new challenger in his relation bid. former marine fighter pilot amy mcgrath announced her candidacy today. the kentucky democrat faces an uphill battle. mcconnell has held the seat since 1985, and president trump won kentucky by 30 points in 2016. the associated press reports in an interview mcgrath said of mcconnell, somebody needs to stand up to him. the president criticized the supreme court over its decision on the census. the court issued a ruling against the administrations proposed citizenship question on the 2020 senses. the president has also criticized the court on his decision to uphold the affordable care act. census.he 2020 the president is taking another shot at the u.k. ambassador to washington. on twitter, mr. trump said the british diplomat is a "very stupid guy." this is the latest in a dispute of

mark: i'm mark crumpton with bloomberg first word news. president trump is reiterating he could impose additional tariffs on chinese imports if he wants. the president said he would hold off on a threat to impose tariffs on $300 billion in chinese imports, and the chinese president xi jinping had agreed to buy large amounts of american farm goods in exchange. but those purchases have yet to happen. the president spoke during a cabinet meeting at the white house today. a federal judge has barred roger stone from using social media to criticize the criminal case against him. prosecutors told the federal judge that stone has been using his instagram account to attack the government in violation of the february order. stone, a longtime friend of president trump, is charged with witness tampering and lying to congress during robert mueller's investigation into ties between the trump presidential campaign and russia. russian president vladimir putin has left the defense industry with a big debt. he has spent $300 billion buying weapons over the

i'm mark crumpton. this is bloomberg. the antitrust subcommittee of the house energy and commerce committee begins 90 minutes from now and the competition issues involved in big tech right now and whether new steps need to be taken to dilute the concentration of facebook, alphabet, and apple. we welcome jennifer rie, our senior analyst, and kevin hardwick, and former head of the bureau of competition at the ftc. what is the point? what is the endgame here for congress in having this hearing? what is this likely to lead to? jennifer: the idea is to look at big tech and online plant arms and all complaints over the past few years about the power and what they do to allegedly hinder competitors and new entrants and ask whether there should be legislation, changes to the antitrust legislation, something else, or supplements to the antitrust legislation to deal with this. i think they are right at the beginning. they don't even know yet if there is a problem. what they are asking is is there a problem, and if there is, what is

. ♪ mark: i'm mark crumpton. fbi director christopher wray told senators today that china is trying to steal economic dominance. the director told the senate judiciary committee that there are more than a thousand investigations underway on intellectual property theft, almost all leading back to china. he noted that no country poses a more severe counterintelligence threat. and former defense industry level list -- industry lobbyist has been approved by the senate to be secretary of defense. mattis quit in december and didn't respond to the president's announcement that he would withdraw troops from syria. guatemala's high court blocked an asylum deal with the u.s. thepresident spoke at turning points usa summit in washington. pres. trump: that is a good thing for us. tariffs,ther doing the a form of tax, or use our ban. mark: the so-called safe third agreement would have required migrants seeking asylum in the u.s. to instead apply for those protections in guatemala, even though the guatemalan government said it

. ♪ mark: i'm mark crumpton with bloomberg's first word news. the trump administration says the government employee health plan will tighten rules on opioid painkillers starting this fall. they's -- it is the world's largest job-based health plan, covering an estimated 9 million people. under the new policy, the initial prescription will be for a seven day supply instead of up to 30 days. the president this weekend issued a blistering attack on elijah cummings, calling the black maryland democrat a bully and calling his district a "disgusting, rat and rodent infested mass in which no human being would want to live. the comments came in a series of three twitter messages this weekend. a prominent defender, the reverend al sharp, traveled to baltimore to hold a press conference. sharpton: donald trump have known each other for years. he can say what he wants. calling me a troublemaker, yes, i make trouble for bigots, i made trouble with him for central park, i made trouble with him for birther is him. if he really thought i was a con man, he would

with i'm mark crumpton bloomberg's first word news. president trump says he could win the war in afghanistan in a week but says he doesn't want to kill many people and wipe afghanistan "off the face of the earth." he met with the president of afghanistan. secretary-general antonio announced his concern over the seizure of vessels in the strait of hormuz. >> the secretary-general stresses the need to respect the rights of navigation through the straight. the secretary-general urges all concerned to exercise maximum constrained. a boat was seized and taken to an iranian port. waving flags, chanting, and banging pots and pans, tens of thousands of puerto ricans filled a highway today to demand the resignation of the governor. leakcame 10 days after the of nearly 900 pages of online chats between governor rossello and some of his closest. in the conversation, they mocked women and victims of hurricane maria. the governor is refusing demands a step down -- demands he step down. tlaibongresswoman rashida told people that they are all members

mark: i am mark crumpton with bloomberg's first word news. the european union says it is incontact of the other participants of the landmark 2015 nuclear deal. >> we continue to urge iran not to take further measures that undermine, and reverse all in theirs that are commitment to the jcpoa, including stockpile limit. germany, russia, and china plan to convene a meeting of the signatories amid concern that iran is not meeting several of its commitments. chuck schumer is on a list of democrats saying trump's labor secretary should resign because of his role in a plea deal that allowed a billionaire financier to escape prison time. was a prosecutor in south florida when he was involved in a plea deal that allowed jeffrey epstein to avoid charges. epstein was charged again in new york on monday in a new indictment accusing him of sexually abusing young girls. regular at thea mar-a-lago club for years. the president needs an answer. recall" is not an answer in this case, especially since the president appointed mr. acosta to such a position. >> t

i am mark crumpton. this is bloomberg. romaine: wall street research division is taking a note from an unlikely source, budget airlines. now, wall street is doing the same thing. you want to meet with an economist? it will cost you. banks itemizing research costs for clients. the senior writer is here with a story. every time i pick up the phone to call my lawyer, i think he charges by the question. >> airlines were not always like this. is to be paid one fee and got everything -- it used to be you paid one fee and got everything. it changed as they wanted to bring down costs. in europe, there are new rules that went into effect about a year and a half ago. separatelyo charge sending your trades to the brokerage firm and you got the research free. that is how it is done in the u.s. mostly. they have to say this is what you are going to pay for for research. that is why we are getting the a la cart business. it is interesting. investor said i basically get charged for a biscuit now. it is really grim. he was being humorous

i'm mark crumpton. this is bloomberg. a leading consumer goods manufacturer in china is warning that the country will see more factory shutdowns as the trade war between the u.s. and china pushes companies to rethink their supply chain. u.s. china trading corridor is being disrupted. now u.s. based customers are tried to diversify outside of china not leaving china but diversifying. putting less eggs in one basket. >> joining us now to talk about this is emma chandra. [laughter] a lot of people don't know this name. they are critical to a lot of apparel and goods that we buy. >> they are essentially a middleman. they work with the factories in china to supply those companies here in the u.s.. they are the world's largest supplier of consumer goods. what is interesting is it reflects what we have been hearing from retailers certainly what we heard during the last earnings reports. they were asked about the impact of tariffs which at the moment seems like furniture, handbags not yet clothing and shoes. it is expected should

i'm mark crumpton with first word news. president trump says he will work with the british government on a response to iran's seizure of a british oil tanker in the strait of hormuz. as he was leaving the white house to spend the weekend at a golf resort, he told reporters we have a very close alliance with the u.k., i will be working with them. iran's revolutionary guard announced that it sees the tanker today escalating tensions in one of the world's critical energy chokepoints. a day earlier, the u.s. said of downarships, one of them an iranian drone. today seizure was the second move against the british of an overall week. the british navy intervened in july 11 to stop iranian forces from blocking a commercial oil tanker leaving the persian gulf. ande will talk to the u.k. we have no written agreement but we have an agreement. if they have been a great ally of ours. we heard it was one or two. we will be working with the u.k. they will have a new prime minister sandwich is a good thing and we will be working with the u.

i'm mark crumpton. this is bloomberg. >> a winning message to take on democraticrump area hopefuls took the stage last night in detroit. >> i don't understand why anybody goes to all the trouble of running for president of the united states just to talk about what we can't do and shouldn't fight for. >> i think democrats win will be run on real solutions not provinces. only work on things that are workable not fairytale. >> i get tired of democrats afraid of big ideas. >> what i don't like about this argument is that we are more worried about winning an argument than winning an election. isjoining us to discuss this a political campaign veteran. fellow.w a research thank you for joining us. last night there were fireworks between elizabeth warren, bernie sanders, and everybody else read it tonight, we are getting more of a diverse cast. race will be talk about with, harris and cory booker on stage. is there a chance here that the things they talk about, the policies they put out there will appear more t

i am mark crumpton. this is bloomberg. mark, thank you. lawmakers are sounding off on libra again, facebook's proposed cryptocurrency. brad sherman of california said it is frustrating mark zuckerberg is not here answered questions, calling the currency bucks," and said drug dealers will use it, and it will do more harm than good. rep. sherman: the most that happenedng this century was when osama bin laden came up with the innovative idea of flying to airplanes in the towers. that is the most consequential innovation, although this may do more to endanger america of an event that. caroline: i am not sure what question came out of that, but rr,ning us now is guy he executive member of the blockchain association energy group that joins us from washington. he will brief lawmakers on libra. guy, did that particular lawmaker have any particular validity to what he was stating? do you think this libra currency will enable drug deals and the like? guy: i think it was a media grabbing type of statement, and he got what he wanted, but the fact of t

mark: i am mark crumpton with first word news. fbi director christopher wray is that hacking attacks against u.s. political campaigns and election systems may only increase heading into the 2020 elections. ray told a conference in new york that he was -- that tools and services sold on the dark not have become more widely available. he added, i know our advertise series are real and less, so are we. the u.s. secretary-general is concerned about north korea's ballistic missile launches. a spokesman says he wants talks between the united states and north korea to begin quickly. last month, president trump and kim jong-un agreed to further talks at their meeting in the militarized zone between the two koreas. british prime minister boris johnson has called on the european union to rethink its refusal to renegotiate the brexit deal as he pledged to throw all his energy into making sure britain leaves the block on time. addressedster johnson a rowdy session of parliament for the first time since becoming a leader. >> this government, i

mark: i am mark crumpton with first word news. former special counsel robert mueller has finished testifying before congress. he appeared before the house judiciary and intelligence committee today for more than six hours on his forged 48 page report, on russian interference in the 2016 u.s. election, mueller says interference was not a hoax and not an isolated episode. your investigation, did you think this was a single attempt by the russians to get involved, or did you find evidence to suggest they will try to do it again? >> it was not a single attempt. sit heredoing it as we and they expect to do it during the next campaign. warned there should be a more robust effort to protect against future interference. adam schiff says investigations will continue. >> your report for those who have taken the time to study it is methodical and devastating. it tells the story of a foreign adversary sweeping and systematic intervention in a close presidential election. that should be enough to deserve the attention of every american, as you

. ♪ mark: i'm mark crumpton with bloomberg first word news. hisident trump is defending weekend tweets about four democratic congresswoman. speaking today, the president denied his tweets were racist. fouren he said the democratic congresswoman of color should go back to the " broken and crime infested countries they came from." >> if you are not happy here, you can leave. that is what i say all the time. that is what i said in a tweet which some think is controversial. a lot of people love it, by the way. if you are not happy in the u.s. , if you are complaining all the time, simply, you can leave right now. come back if you want, don't come back, that is ok, too. mark: all four of the lawmakers that president trump was addressing on twitter are american citizens and we were born in the u.s. european union nations are throwing their diplomatic weight behind the unraveling iran nuclear deal in an effort to keep the pack from collapsing under u.s. pressure. eu foreign ministers want to get iran to respect the terms of the deal again. that was t

. ♪ i'm mark crumpton with first word news. senate majority leader mitch mcconnell is standing behind president trump in the firestorm that has arrested since the president's tweets about four democratic female congresswomen. the leader said today that words matter but that the political rhetoric has got overheated. >> the president is not a racist. i think that the tone of all of this is not good for the country. but it is coming from all different ideological points of view. that's the point. to single out any segment of this i think is a mistake. on the house side, democrats were not buying the characterization. >> the comments made about sitting members of congress cannot be tolerated. because you cannot have the ship sink, this historic american castigate, you cannot members of congress who go to a border state like texas and see conditionsnhumane and chastise them. the house toin condemn his tweets was halted after speaker nancy pelosi called mr. trump's comments racist on the house floor. republican doug collins said it

i'm mark crumpton. this is bloomberg. craig, back to you in washington. craig: turkey says it has received the first major delivery of russian defense missile systems. joining us for more on the story is built fairies -- bill faries. what does this mean for u.s.-turkey relations? >> it is the latest blow in a long time partner, ally. one of the key countries helping the u.s. build the f-35 joint strike fighter. that participation now at risk. the pentagon has said it was willing to wind down turkey's participation in the program. what we are waiting to see now is if this latest acceptance of the missile-defense system which the uss could target the f-35, whether that will result in stronger sanctions against turkey. the pentagon is likely to issue some sort of statement on this. in congress there has been bipartisan support -- bipartisan frustration over turkey's actions. this will only stoke that frustration. marty: does anybody have a clue what erdogan's game is here? is he trying to get closer or farther away from nato and the united states? bill: what

. ♪ mark: i'm mark crumpton with bloomberg first word news. congressional democrats are laborng the decision of secretary alex acosta to resign over the handling of the jeffrey epstein plea deal in 2008. acosta with the u.s. attorney in miami at the time when he oversaw a nonprosecution agreement that allowed epstein to avoid sex charges by pleading guilty to state charges and serving 13 months in jail. maryland democrat elijah cummings, chairman of the house oversight committee, told reporters i think secretary acosta did the right thing. >> there are questions addressedg the way he the epstein case. and the way that he treated these young ladies, and it is extremely unfortunate. hopeful that the president will appoint someone who will be very sensitive to women in the workplace. mark:

i'm mark crumpton. this is bloomberg. shery: live from bloomberg world headquarters in new york, i'm shery on. jon: live in toronto, i'm jon erlichman. joined by our bloomberg and bnn bloomberg audiences. for a cup.case fed chair jay powell taking the central bank closer to cutting interest rates this month, citing risks from the china trade war and a slowing economy. and we take you to sun valley where media and tech moguls are converging for the start of the annual conference. we will hear from james anderson, partner and portfolio manager at baillie gifford. growing pains for levi strauss. the retailer had one of the most successful ipos of the year but profits fell 63% from a year ago. let's get you started with a quick check on where markets are trading in the afternoon session. we are seeing u.s. equity markets holding higher with the s&p 500 up half a percent. this of course after really getting to a new record, and the s&p 500 surpassing the 3000 level. losing steam at the moment but we are seeing financials leadi

i'm mark crumpton. this is bloomberg. on-air, and @tictoc on twitter, live from bloomberg world headquarters in new york, i'm vonnie quinn. >> live in toronto, i'm amber kanwar. welcome to bloomberg markets. here are the top stories that we are following from around the the u.s. department of justice has approved t-mobile's acquisition of sprint. it is a deal that will reshape the wireless industry. an earnings report worth tweeting about. twitter reports sales that beat estimates as it attracts millions of new users. and cannabis controversy. the board for the canadian canada -- cannabis company forces out its chairman over is scandal over a regulatory breach. we will get to the stores and more but let's check in on the market action. we look set to end the trading week in positive territory, specifically with the nasdaq powering the gains. if the s&p closes of the day at these levels, it will be record highs. as you can see from the performance on these indices, it is all about the tech stocks. now that all of the so-ca

i'm mark crumpton, this is bloomberg. shery: live from bloomberg world headquarters in new york, i'm shery ahn. amber: and live from toronto, i'm amber kammer, in for amanda lang. shery: here are the stories we are following from around the world. low rates claim another bank victim. mrs., following its pr squeeze by a flat yield curve. now netflix set to report earnings after the bell. how about company will grapple with losing some of its most popular shows and movies to traditional media companies dropping into the streaming game. and elon musk wants to merge human brains with computers by next year. we will have the details on his latest venture. startedet's get you with a quick check of the markets. the s&p 500 falling for a second consecutive session, industrials leading the decline lower. it is now below the 3000 level. of earningsed bag and lingering trade tensions between the u.s. and china that are dampening sentiment. the dow was also down .2%. the dow transportation average is also seeking to five-month lows,

. ♪ mark: i'm mark crumpton with bloomberg first word news. nancy pelosi has weighed in on a report that u.s. second-quarter gdp growth slowed. think that our gdp will when we raise the minimum wage and people have more purchasing power. these are people who will spend and inject demand into the our gdp and therefore, will rise. the speaker also says democrats will be pitching a message to constituents on the need for lower health care costs, bigger paychecks, and more ethical government during the august recess. the house return for legislative business september 4 -- ninth. the trump administration has unveiled a federal aid for farmers. the administration is set to allocate an additional $16 billion in funds to help the agricultural industry. payments are set to begin next month with a $500,000 per person limit. the move comes after last year's $12 billion package. agriculture