there are not so many names circulating, herm, of who might become the next president of the lanka. and the people just told that it's going to be a name that is fresh. you know, that brings hold back to the people because people have been suffering here for weeks for month even. and they do need a fresh start in silica and because they hold the, the current leaders in the outgoing leaders as those responsible for driving the country into an economic crisis, which has also become a, a humanitarian crisis. hasn't it? totally. i mean, people are really suffering. we are shot with a lot of people here. people who are standing in gas and fuel lines for days, sir, for 7 days and night, sometimes they sit in their little auto and they just hold that they get like one liter fuel and they didn't get it for a week. then they go to the black market, pay at $6.00 times more than usual, just to be able to drive around with the car. they can't really keep their families . families are struggling to put food on the table for their children. then medicine is rare. he and see lanka right now it's n

dani: thank you for joining us, louise dudley at federated hermes. coming up, we will get the latest on that generate six hearings were testimonies against former president trump. this is bloomberg. ♪ dani: welcome back to "bloomberg markets: europe." --"bloomberg daybreak: europe." president biden said he is doing great after catching covid. pres. biden: i'm doing well. getting a lot of work done. in the meantime, thank you for your concern. dani: let's go to bruce with the latest. >> this comes amid a rising wave of covid. where do we know about his condition? >> as we just saw, there is a video we just saw about him talking about his condition. we heard he has mild symptoms. he is fully vaccinated and has had two boosters. he has said the is expecting to continue working while he isolates. we also know that kamala harris, the vice president has tested negative. this is part of another wave sweeping through the u.s. at the moment. the january 6 committee, the chairman was not there. he could be there in person. dani: a perfect segue. the january

>> yeah, you know, hermes did this as well, so they're not alone in this. >> i like the bags, though, the dog carrying bags. that kind of makes sense. >> that makes sense, yeah. the small to medium pet collar is $280, okay? >> okay. that's a fashion statement. sure, i guess. then you've got the dog and bowl cover under $1,300. >> uh-huh. >> and then there's that bag, which is going to run you about $3,000. >> if you're more of like a prada guy or gal, they have a pet collection that included a $2,900 pet bag and a $580 cashmere jumper for your dog. that -- that i might do. >> gucci. >>> coming up, should you hold off on this weekend's fourth of july sales? >> ooh. >>> plus, reports of another bison attack at yellowstone national park. this time, a 71-year-old woman. >>> and ahead of this fourth of july weekend, the ominous warning from marine officials on cape cod. the sharks are here. you're watching "world news now."

so no meteorological jargon, probably not herms, everyone can understand that. and he says on investment, for example, 50 leaders per square meter, littleton, colorado, in or on the water level of so and so many centimeters in your home. and that's what owns as far couldn't really help the fire department. and the general public hearing are often any little soon forgotten. they could refer to the map and the forecast lock to prepare for an event. every city faces different challenges and there's no silver bullet against climate disasters. but with his early warning system, our him now has a tool to tailor its response to any future flooding emergency. that last story tells us that innovation really can be a matter of life and death that fell from us today on made. thank you very much for watching. i'm janelle de milan. do join us again at the same time next week. take care. ah ah ah ah ah, with who who it was supposed to be the embers place of residence. the whole and palace sicilian holes in potsdam, but these walls have other stories to co, the, the nazi ah, t

so no meteorological jargon, robert herms, everyone can understand that. and he says on investment, for example, 50 leaders per square meter, littleton, colorado, in or on the water level of so in so many centimeters in your home. and that's what owns as for really help the fire department. and the general public hearing are often any little soon forgotten. they could refer to the map and the forecast lock to prepare for an event. every city faces different challenges and there's no silver bullet against climate disasters. but with his early warning system, all him now has a tool to tailor its response to any future flooding emergency. and that last story tells us that innovation really can be a matter of life and death that fell from us today on made. thank you very much for watching. i'm janelle de milan. do join us again at the same time next week. take care. ah ah ah ah ah ah ah, with who hello cuz on the loose with a huge swarm has over run until no power tom months of hard work destroyed and we just a few hours. the farmer is desperately looking for

there are not so many names circulating, herm, of who might become the next president of c lanka. and the people just told that it's going to be a name that is fresh. you know, that brings hold back to the people because people have been suffering here for weeks for month even. and they do need a fresh start in c lanka. and because they hold the, the current leaders in the outgoing leaders as those responsible for driving the country into an economic crisis, which has also become a, a humanitarian crisis, hasn't it? totally. i mean, people are really suffering. we are shot with a lot of people here. people who are standing in gas and fuel lines for days, sir, for 7 days and nights, sometimes they sit in their little auto and they just hold that they get like one liter fuel and say they didn't get it for a week. then they go to the black market, pay at $6.00 times more than usual, just to be able to drive around with the car. they can't really keep their families . families are struggling to put food on the table for their children. then medicine is rare. yancey lanka, right? now i

having the political, herm will to reintroduce rhinos and all the complications that come with it. or it's very significant in what showing what wasn't because prepared to do or for controversial. it's a 60 to 70 hour overland journey. the longest road transfer of rhinos ever completed. the animals were 1st taken across the south african border to ma, push own national park, and mozambique. they had 2 days there to erase and re hyde right before being reloaded and taken the rest of the weight is enough. we are actually proved that this is sort of a new way that we cannot move. ron has great distances across the continent has never been done before and with half warehouses in the right places, we can actually restock protected areas in, in other countries. a long way away from, from, from us and south africa. there are only about 5000 black rhino left and about 18000 white rhino to protect them from poachers. they being kept and especially built high security sanctuary within the pac. it's an incredible feeling to be part of this, and to witness this, this moment is actually quite e

hermes as our reporter was telling us before the break this hour, doing pretty well in terms of the earning picture. gaining 8% on the back of a beach. natwest, they to see a robust picture in the months ahead despite the u.k. potentially heading into recession, gains of 8%. astrazeneca was also a beat, some pressure on those shares, down 2%. they are weighing up covid medicines and the drug pipeline as they continue to spend heavily on rmd. still with us is virginie maisonneuve, global chief investment officer at allianz. have you been surprised by the robustness of the earnings picture, are the forecasts overly optimistic? do they look like they will be tested by this environment? virginie: i think on the one hand, what the results are showing for the companies is very strong. good management, really fast reaction, this quarter has been good. i think the guidance is interesting because the next three to six months will be about this gap in the time dynamics between how inflation will peak and the impact of existing inventories. we are talking about general factors. each company will have

having the political, herm will to reintroduce rhinos and all the complications that come with it. or it's very significant in what showing what was in because prepared to do or for controversial. it's a 60 to 70 our overland journey. the longest road transfer of rhinos ever completed . the animals were 1st taken across the south, african brought it to him, a push on national park and mozambique. they had 2 days there to erase and re hyde right before being reloaded and taken the rest of the way it is enough. we are actually proved that this is sort of a new way that we can army ron has great distances across the continent has never been done before. and with half warehouses in the right places, we can actually restock protected areas in, in other countries. so a long way away from, from, from us on south africa, there are only about 5000 black rhino left and about 18000 white rhino to protect them from poachers. they being kept and especially built high security sanctuary within the pac. it's an incredible feeling to be bought of this and to witness this was mon, is actually quite

the head of financials at federated hermes on the back of the view that trading and volatility will continue to be a benefit for the banks. coming up, the french government offers to pay to fully nationalize the utility. we got the details on that next. this is bloomberg. ♪ tom: welcome back to the open. 52 minutes into the european trading day. checking out where things stand. losses of 0.5%. the ecb officials are disgusting or considering 50 basis points as the hike on thursday. they had flagged 25 basis points but they are contending with high inflation. and the potential that russia will not restart the gas flows around toward stream one later this week. there is day is the day you are meant to get clarity on nord stream one. we know gazprom has declared force majeure for a number of european companies. concerns around inflation and ecb officials' response is 50 basis points. on thursday we are also expecting details around the anti-fragmentation tool and what the ecb can bring to bear on that front as political risk continues to bubble in italy. wednesday a crucial day for that nation

from france's louise lenoble as she won the women's freestyle with this effort, while the usa's davis hermes pulled off this trick to win the men's category. but from me, and the rest of the sport team, goodbye. you may well remember the wild boar soccer team who became trapped in cave in thailand in 2018 when monsoon rains flooded the tunnels. the rescue story is now the subject of a new film as claudia redmond reports. four years on from the dramatic rescue of 12 boys and their soccer coach from a cave in thailand, their story has been brought to the big screen by academy award winning director, ron howard. 13 lives had a special screening in london on monday. it was just so intense but more importantly, underneath all of it, is also a very contemporary theme that we need to remind ourselves of, and that is how powerful we can all be, internationally or on a community level, when we pull together. you know, it's stunning what was achieved. what are you thinking? just a crazy idea. collin farrell, viggo mortensen and joel edgerton play the heroic rescuers. they prepared for their roles by w

. >>> we will return in two weeks with another star actor who have made herm name for herself in the world of business. gwyneth paltrow on a turn from hollywood to group and so much more. >>> let's turn now and get a quick check of your local sunday weather. >> we are starting with fog in san francisco. this is a sunshine area peeking through. it will be warmer today for the afternoon with temperatures bumping into the 70s around the bay. if you're going to be in through the self we are starting out in the 50s. but notice the icons clearing out by 10:00 to 11:00 bumping up into the 80s for the afternoon. >>> your highs and lows of the week including that guy at the wedding who appears to have availed themselves of the open bar starting a fire and dancing right through flames. >>> the first chasing the storm. the sunday spotlight on the growing number of women rushing into danger for a glimpse of the big twister. we are back in 30 seconds. same state farm agent. texted the next day? same guy. is that even legal? and get this - he remembered my name. of course. (whispering) hey, blink

there is a stock up by 6.9%, and luxury doing well with a lot of money going into hermes, and l'oreal, we heard from the ceo moments ago, that is the story at l'oreal, moving more customers away from the cheaper brands to luxury ends. alix: it was an interesting market session. here in the u.s., intel shares are down today by 10% over the last two days, with profit forecast for the rest of the year, it is down due to a weaker economy. pat gelsinger is telling investors the third quarter is at the bottom. always a pleasure to catch up with you after earnings. tell investors what your signs are that q3 is actually the bottom. pat: yeah, thank you and great to be here with you today. yesterday was a tough day. it was also a euphoric day with the passage of the chips act, but to describe that hey, acute market share changes, the decline of the economies across the world was surprising how large that was, they also adjusted inventories and made maybe once in a decade ships and inventory positions after working hard to catch up to demand for years that we were not catching up, so that was v

like hermes, the high priest of french leather products. worked on iconic bag in 2021, points to future guilt-free fashion could be the norm and making room for >>> if you have a teenager in the market for first car, consumer reports has advice. >> reporter: slow motion test video shows how powerful and destructive a collision can be, often a teenager behind the wheel during a crash. teens three times more likely to be involved in fatal accident compared to older drivers. that's why experts say parents need to consider the right car for younger drivers. >> big part of the reason teen drivers are more at risk of crashing is rice. >> reporter: with the insurance institute for highway safety, teamed up with consumer reports to create a list of safe vehicles for teen drivers. ranging from $6,000 to $39,000. won't find high-speed sports cars or extra large vehicles hard to control. all performed well in crash tests, have high reliability scores and can brake from 60 miles per hour to zero in 145 feet or less. and electronic stability control whi

. —— hermes. we believe she was spending the proceeds of the burglaries themselves. she said her money came from djokovic. —— vu kovic. sebastian and his mother are now being actively traced by the police. taste now being actively traced by the police-— now being actively traced by the olice. ~ ., ., ., the police. we followed him to london heathrow _ the police. we followed him to london heathrow airport. i the police. we followed him to london heathrow airport. we i the police. we followed him to i london heathrow airport. we had booked a i—way ticket to japan and we knew he was about to leave the country and we went allowed to prepare that to take place and we had to ensure that any mobile phones advised that he was using was open and not locked. my colleague and myself effectively had to tackle him to the ground to ensure that our objective of having his phone open was achieved. the wristwatch he was wearing belonged to the late leicester city chairman that had been stolen on december ten. the bag he was carrying belong tojoe rutland. even in that bag, si

hermes, home of the 10,000 plus burken bag reporting a record 42% operating margin in the first half of the year u.s. and europe were the bright spots. it is watching, accessories, shoes and turns out alcohol too. diageo, which makes guinness and smirnoff and johnny walker and fins to expect growth. what is behind it. the ceo told me it is spending on premium brands, the good stuff. >> the premium end of our portfolio is growing faster. the top one-third of our business is the fastest growing part of the portfolio as people are drinking better everywhere in the world >> and he also told me he expects the trade-up to premium products will continue >> continue to see positive trends on premium brands growing faster, so in the u.s. tequila brands are really strong, johnny walker has had a great year, strong double-digit growth, bullet bourbon doing well and whiskey and ketel one vodka. >> and he sees resilience across the board even if the u.s. does enter a downturn or a recession. >> there is more resiliency here in part because it is an affordable luxury. the average american househol

having the political, herm will to reintroduce rhinos and all the complications that come with it. or it's very significant in what showing what wasn't because prepared to do or for controversial. it's a 60 to 70 our overland journey. the longest road transfer of rhinos ever completed . the animals were 1st taken across the south african border to me, push on national park and mozambique. they had 2 days there to erase and re hyde right before being reloaded and taken the rest of the weight is enough. we are actually proved that this is sort of a new way that we cannot move. ron has great distances across the continent has never been done before and with half warehouses in the right places, we can actually restock protected areas in, in other countries. so a long way away from, from, from us in south africa, there are only about 5000 black rhino left and about 18000 white rhino to protect them from poachers. they being kept and especially built high security sanctuary within the pac. it's an incredible feeling to be part of this and through witnesses . this moment is actually quite

stated, 12% is due to a ramp down in the spending on space weather monitoring on an instrument called hermes, which stands for heliophysics environmental and radiation measurement experiment suite. and it will complete its integration and test this coming december. now, there were a bunch of things going on in science. this was the decision since every now and again we get arbitrary amounts that are handed to us. and scientific decisions had to be made. but there's also a truth that the president proposes and the congress disposes. >> okay, i appreciate that response. the other concern that i want to raise is a report from the g. a. o.. because at the direction of this committee, the government accountability office analyzes the cost and the performance of major nasa projects. i don't think this is a problem of your leadership or even your predecessor's leadership, it's a long term problem at nasa. what the gao found is that nasa has the largest in cost overruns since they began in 2009. the overruns cannot be contributed to covid alone. many projects had late stage design changes that led t

less demand >> we are dealing with a lot of cross currents that is why we are neutral at federated hermes things are going okay. we have concerns going forward i realize the yield curve is fairly flat. the economy is still very strong what we are noticing is they are coming off a strong number so you are seeing a lower number, but still strong elevated still still a lot of money in consumer balance sheet. very strong balance sheets on corporations even if we are bracing for the second quarter earnings report and expecting probably some nastiness and broadly in terms of outlook, the economy is still quite strong which means the fed will still feel emboldened to continue to raise rates. therefore, in a recession right now, that means a technical recession. job market is too strong too many people out there for twice as many job openings as people to fill them. we don't expect recession any time soon. it's going to break either way that is difficult to navigate the market >> risk to the down side as we head into earnings season? you think companies are guiding lower? you think estimates have

markets chief strategist, katherine rooney vera, michael lee strategy founder, michael lee and federated hermes senior equity strategist, linda dissel. i begin with you. futures are down this morning as we look ahead to a big week of numbers on inflation, the consumer price index out wednesday, producer prices out on thursday. the cpi is expected to come in up, almost 9%, 8.8% year over year. that is a new 40-year high. what are you expecting? >> well, first i'd like to say good morning, dagen. [laughter] dagen: good morning, linda. >> good morning. and we -- yeah, we are expecting that the inflation problem will remain, that people calling for peak inflation, was we're really concerned bast is the owners equivalent rent portion of the cpi which lags the -- what people are experiencing day-to-day. if you look at the rent index, it's up like 18%, maybe mid-teens around the whole country but you haven't seen that in the consumer price index reflected within that piece of it which is a third of it and so we're fearing that maybe that start to catch up a bit unless off start to see rentals plummet

joining me now, federated hermes portfolio manager, equity strategist, steve shivarone. what are you watching this week? we also have a fed meeting coming up. >> we've got the fed, we've got earnings, we've got this gdp report that's i think we're getting signaled isn't going to be all that great so this is a big mac crow week. i think on the -- big macro week. you have a big chunk of the s&p reporting this week. the question is going to be how not bad are the tech earnings, the fang earnings. folks at credit suisse are expecting the earnings of those companies to be down 9% year over year. the question is, you have a big runup in the nasdaq, it's not something that we bought. we think this is kind of a counter trend rally in the tech stocks. so do they pass the bar to keep rallying here or do they roll over. we'll have to see how the numbers come in. dagen: the wall street journal points out that weak earnings reports haven't phased investors after a brutal year for stocks. the s&p 500, steve mentioned the rally in the nasdaq, tech. s&p's up about 5%, nearly 5% in the m

maria: yesterday we had phil orlando on from hermes. he said he is sitting on the highest cash position ever in his career, 9% whichs is obviously giving him wiggle room to come in when he wants. let me bring in cf a a penn mute mutual manager. have valuations got pen so weak it's time to look for opportunities. what do you make of what we see in july in the face of worries about the macko story. >> good morning, maria. good to be with you again. i would say it was clearly a record down trade in the first half of the year, both for bonds and for stocks. so the fact that we've seen some stability happening within the bond market, we see the 10 year treasury peak in mid-june around 3 and-a-half percent, that's come down about 70 basis points since then. so to the extent that we can get some stability in rates i would expect a better environment for assets through the balance of the year. maria: what are you doing in terms of your own asset management? >> okay. so we focus primarily in the world of fixed income and i will say there are som