mortgage applications. old news. trade balance is ancient news. it is not employment news. you go. janet yellen is not paying that much attention. hey, she is watching everything. [laughter] she has the star trek enterprise of dashboards. we call that the bloomberg terminal. continue. we have time warner in the next hour. chesapeake and aol. cody for century fox. 21st century fox. what a shock that was yesterday. wow. topic at be a major bloomberg surveillance. we look at the transactions of media. let s look at the transaction, which is your data check. weight to the screen here. we will talk about that. the euro was weaker. on to the next screen. the vix shows some of the tension. the ruble is a big deal this morning. over 36.l out . 105. is under brendan, help me here. you spend a lot of time in brussels. what is nato going to do? something interesting. more and more people pay attention, the foreign minister of poland, he is the one willing say that europ
apparently, through whatever he will do tomorrow night, continues to refuse to deal with congress in an effective way. tonight onwatch bloomberg television begin at 8:00 p.m. eastern time. wall street banks lasted over trading commodities like copper and aluminum. jpmorgan and goldman sachs and the banksused of but the financial systems at risk. goldman sachs acquired a banker who brought along, the deaf confidential information. goldman also fired one of its supervisors. according to the new york times, the new york fed fired their employee expected of leaking that information. from a bob investors. founder jack ma says this is the most dangerous moment for the chinese e-commerce company. spec too much may from ali baba. he has previously warned employees about being complacent and failing to innovate as they have gone larger. and three students were wounded in a shooting at florida state university. the shooting took place overnight at florida state library. police shot a
hampshire will join us. we will speak about much after the eric cantor resignation. and of course, washington focus on baghdad. let s get to jonathan ferro with our morning brief. here s the news from overnight, china s central bank extended the reserve requirement cut to industrial bank co and another bank, trying to support economic growth without unleashing stimulus. a.m., empire 8:30 manufacturing. 10:00 a.m., housing market index. no big earnings but here are two items. rates lighting at the tomb of the unknown soldier wreath laying at the tomb of the unknown soldier. ghana versus usa, i feel like americans are starting to love soccer. they are not caring about the american team but they are watching the better teams, that is good news. ghana give us some trouble before. 2006, a tough group for you guys. it is a better team now. juergen klinsmann, the german coach of the american soccer team that tells you a lot already he has basically given this year up.
quarterly results missed estimates and said compensating victims for defective ignitions will cost at least $440 million. matt miller joins me along with chuck stevens. matt, take away. thank you. about the costsk you have set aside or the cost you pay for the actual recalls. it was $1.3 billion in the first quarter, $1.2 billion in the second quarter, and a lot of analysts do not seem to have accounted for that in their forecast. why do you think that is, and how much do you think it is going to be going forward? before i get into questions specifically arm the recall, if i could talk about overall performance, i think it is an important message to get out. we continue to have strong twolts, especially in our key markets, north america and china. recallexclude the campaigns, earnings on a year-over-year basis were up 20% with margins of about 9.2%. 14%hina, earnings were up year-over-year with margins of 10%. specifically to north america, despite the challenges related
taking a breather as german chancellor angela merkel takes a breather of her own. she is in china, gentlemen. what you think of that? ?ny comments moving on. no economic data in the u.s. no earnings to date here in the u.s. a couple of items of note, in spain, the running of the bulls kicked off have you done that? . no. that is crazy. on a more serious note come and i did not realize this, today marks the nine year anniversary on london sombings transportation. that was a very big deal. do and after the fourth of july data check. the euro under. stayedh ukraine, subdued. that, 10.32ok at means more complacency. near 111.e let s go to the bloomberg terminal. we will talk about this and this hour. two year yield from 2011, down we go. there are these breakouts. this is the last peak, somewhere in september. up we go again, the two year yield. we will talk about that this hour. can yields break out? we look at the websites and scare the front pages. adam johnson has our f