knead is also here. as i said when i started the presentation, we have continued to get inquiries from the commission related to the implementation committee spanned and so i thought it prude to just share a little bit more information with you today about those dollars even though they are not under the jurisdiction of the commission. as i said at the beginning of the presentation, the commitment that s been made to the san francisco foundation on bow half of the community is over $8 million. to date and again to date through q2, over $2 million in grants have been made we have currently a $500,000 grant pending to san francisco housing development corporation to support the purchase of 5033 and some of you know the brick building on third street next to the vacant lot near bank of america and it has residential on top and those tenants are protected and below market rate tenants and the commercial space below it is my understanding that that will be a second location for cr
, at bloomberg s european headquarters in london. manus: ahead, we have two big interviews. in 10 minutes we speak to the ceo of italy second-largest bank. paolo.n francine: then we are joined by continentale chief executive offers. manus: first, commodities are trading at their lowest in 13 years with oil, metals and crops being effective. francine: supply gluts and the slowdown in china and prospects of the yard the rise in u.s. interest rates extending the rout. us is the bloomberg managing editor for commodities. been oversold are we are expecting bad news? that depends a lot on what happens in china, about how the story develops. we see data that shows a slowdown in the real economy. if you start to feel that, the bearish mood can continue. links one of the biggest is between china and the producers. we have had everybody through the door. if we look at what the miners are doing and the china story, how does that balance? will: even at these prices, miners will stil
good day to you. china s stocks have slumped from the highest level in three weeks. the benchmark index sank6% following concerns that the government will pare back efforts to prop up the equity market. after a drop in interest rates and removal of property restrictions. economics chief asia correspondent is in hong kong. mini rout?ket is this the rerun of a big run? enda: it is early days to tell whether we are going for another. it s certainly a correction. it has come about because we had some good numbers today. we had some data. that is interesting when you consider the big stock markets we had in june. it kind of illustrates perhaps the net effect on wealthy consumer confidence with what was much less than people anticipated. we will need to see more durable prices before calling a turn in the housing sector and before calling a turn in the economy. francine: what does it mean for the wider economy? how much can we read into this? enda: one of the recent stocks fell t
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manus: welcome to bloomberg daybreak: europe. energyue of renewable and writ energy, one of the most valuable companies on the german exchange. that income, 857 million euros. outlook forhe 2017 the company. they don t see the uk s retail during generating positive earnings. it is the valuable most valuable utility in germany. will it become independent? these are the top lines concerning the 2017 outlook for this year. they don t see the u.k. side of the business to let generating a process on the adjusted basis. net income, 857 million euros. that is the press report as we close off a heavy week of reporting and the european equity markets. let s talk about global markets. this is a game of chicken. potentiallyng at the situation developing into this generation s cuban missile crisis. the president of the united states morning the north koreans that if they follow through with a missile threat, they will face something like they never thought possible. what is it