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Speaker 1: Global business means twenty four hours a day. Bloomberg the

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Speaker 1: radio flash Globo Lift and on your radio's a Bloomberg

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Speaker 1: Business Flash from Bloomberg World Headquarters. I'm Katherine Cowdery and

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Speaker 1: as a closing bell sounds a don. Industrial laverage is

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Speaker 1: up two hundred thirty three points one point three per cent,

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Speaker 1: trading at seventeen thousand, nine hundred thirty. SMP five founded

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Speaker 1: up twenty eight points one point four percent to two

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Speaker 1: thousand ninety eight. Naszac hier by sixty three points one

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Speaker 1: point three percent, trading at forty two. Well stocks climbed,

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Speaker 1: helping the SMP five hundred post its third straight quarterly advance.

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Speaker 1: Markets are showing more signs of stabilizing after wide swings

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Speaker 1: in the wake of Britain's decision to leave the European Union.

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Speaker 1: Bank of England Governor Mark Kearney says at b O

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Speaker 1: eight will probably have to lose in policy within months

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Speaker 1: to deal with the fallout from the Brexit vote. Heard

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Speaker 1: live earlier on Bloomberg Radio, Karney had some reassuring words

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Speaker 1: at a news conference. I do want to re emphasize

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Speaker 1: that the bank has taken all the necessary steps to

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Speaker 1: prepare for these events, and we won't hesitate to take

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Speaker 1: any additional measures required to meet our responsibilities for the

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Speaker 1: United Kingdom as it moves forward. Standard and Poor's has

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Speaker 1: affirmed its rating on the US at double A plus

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Speaker 1: with the stable outlook. Earlier, it downgraded its rating on

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Speaker 1: the European Union to double A from double A plus.

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Speaker 1: West Texas Intermediate Crude is currently down a dollar forty

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Speaker 1: seven nearly three percent. It's rating at forty one. Spout

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Speaker 1: Gold down a dollar twenty and ounce at seventy ten

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Speaker 1: year Treasury up nine thirty seconds with a yield of

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Speaker 1: one point four eight percent. On link today's top business stories.

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Speaker 1: Hershey has snubbed a preliminary takeover offer from Mondalze International

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Speaker 1: for a hundred seven dollars a share in cash and stock,

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Speaker 1: turning down a deal that would have created the world's

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Speaker 1: largest candy company. The offer would have valued the company

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Speaker 1: at about twenty three billion dollars. It was rejected unanimously

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Speaker 1: by hers She's board. Her She shares it gained a

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Speaker 1: sixteen point eight percent today. They had been up as

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Speaker 1: much as but Walt Disney has apparently acquired a one

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Speaker 1: third stake in the video streaming unit of MLB Advanced Media,

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Speaker 1: A person familiar with the matters as a deal is

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Speaker 1: valued at about three and a half billion dollars. And

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Speaker 1: now let's get an update of some of the other

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Speaker 1: stories were following today on Bloomberg Radio. Catherine, thank you

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Speaker 1: from the Bloomberg News Room. I'm Mark Crumpton. Senate Minority

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Speaker 1: Leader Harry Reid is making another push for a compromise

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Speaker 1: on Zeke of funding ahead of the Senate's summer resins

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Speaker 1: Read calls the threat an emergency. The Republicans become sensible,

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Speaker 1: the zinkea virus will have no no worked on it.

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Speaker 1: In my age Centers for Disease Control has indicated today

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Speaker 1: there is no money left. There's no money left to

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Speaker 1: do work on Zica. Secretary of State John Kerry today

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Speaker 1: unveil the two thousand sixteen Trafficking in Person's Report, which

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Speaker 1: assesses government efforts around the world to combat human and trafficking.

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Speaker 1: It's stunning, It's outrageous that even today the magnitude of

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Speaker 1: the human trafficking challenge cannot be overstated. The US also

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Speaker 1: removed Thailand from its human trafficking blacklist. Tuesday's attack on

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Speaker 1: Istanbul's airport is expected to take an even heavier toll

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Speaker 1: on Turkey's already struggling tourism industry, which employs eight percent

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Speaker 1: of the country's workforce. Last month, arrivals in Turkey fell

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Speaker 1: thirty five percent from a year ago. The law firm

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Speaker 1: representing New Jersey Governor Chris Christie's office in the George

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Speaker 1: Washington Bridge Lane closing case says in a court filing

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Speaker 1: it returned his cell phone after responding to a government

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Speaker 1: subpoena that appears to contradict Christie's statement last month that

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Speaker 1: he gave the phone to the government and didn't know

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Speaker 1: who had it. Text messages made from the phone are

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Speaker 1: said to be relevant to the case. Global News twenty

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Speaker 1: four hours a day, powered by more than twenty hundred

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Speaker 1: journalists and analysts in more than one hundred twenty countries.

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Speaker 1: I'm more Crunton, this is Bloomberg, Katherine, thank you, and

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Speaker 1: checking those benchmarks as they begin to settle town. Industrial

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Speaker 1: leverage up two hundred thirty five points to seventeen thousand,

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Speaker 1: nine hundred twenty nine. Smp F I founded up twenty

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Speaker 1: eight points to two thousand and as at higher by

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Speaker 1: sixty three at eight forty two, Bloomberg taking stock has

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Speaker 1: brought to you by Sector Spider e t S. Why

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Speaker 1: by a single stock when you can invest in the

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Speaker 1: entire sector. Visit sector spdrs dot com or call one

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Speaker 1: eight six six Sector et F And that's a bloom purposiness.

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Speaker 1: Flash wove around most grade promotion. I feel earth move.

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Speaker 1: You moved like they do. I've never seen anyone move

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Speaker 1: that fast. Five people, let's move like you've got a purpose.

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Speaker 1: That was called movements and shakers. They cost a little more.

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Speaker 1: That name cracked me up. Bloomberg taking stock Movers and

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Speaker 1: Shakers with pim box and Kathleen Hay's on Bloomberg Radio

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Speaker 1: now to move higher in stocks, helped out by a

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Speaker 1: little less uncertainty perhaps about Brexit, but above all some

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Speaker 1: near certainty that the Bank of England is getting ready

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Speaker 1: to cut its key rate. Meeting even twice this summer.

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Speaker 1: That seemed to boost stocks not ow in the UK,

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Speaker 1: but in the US and around the world as well.

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Speaker 1: Let's look inside the sp five hundred. Uh certainly company

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Speaker 1: knock company specific on the Bank of England news, but

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Speaker 1: look at this four or fifty five companies saw their

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Speaker 1: stock prices moving higher, only forty nine stock prices closing lower,

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Speaker 1: one unchanged, Dave Wilson, are stocks that ares back to

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Speaker 1: kick off movers and shakers? Well, I gotta tell you,

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Speaker 1: if it wasn't an update today and there wasn't so

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Speaker 1: much in the way of news to kind of keep

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Speaker 1: people focused, it would have been really a day that

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Speaker 1: was all about master Card and Visa. And that bring

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Speaker 1: that up because you know, during the day, we found

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Speaker 1: out that the Federal Appeals Court rejected the credit card

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Speaker 1: companies five point seven billion dollars settlement of claims that

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Speaker 1: they improperly fixed swipe fees. Now, this was the results

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Speaker 1: of a lawsuit filed on behalf of twelve million US

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Speaker 1: merchants that you're talking about, the two biggest payment networks

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Speaker 1: versus the retail industry and a whoa of other companies,

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Speaker 1: And the merchants gained the upper hand today, MasterCard taking

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Speaker 1: the bigger hit down four point four percent, one of

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Speaker 1: today's biggest losses in the SMP five. Thesa not that

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Speaker 1: far behind with a three point four percent decline. Well, Dave,

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Speaker 1: I love this story that has helped hess Uh more

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Speaker 1: than it seems to have helped x On today, and

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Speaker 1: I'll tell you how they're linked, because ex On Mobile

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Speaker 1: has made this big, big oil discovery off the coast

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Speaker 1: of Guayana as many as one point four billion dollars,

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Speaker 1: twice the size of the previous estimate. Could be worth

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Speaker 1: as much as seventy billion dollars based on current prices.

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Speaker 1: I'm talking about the Liza field, a world class discovery,

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Speaker 1: is how it's described in our Bloomberg story by Joe Carroll.

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Speaker 1: And why does this help Hess? Well, because Hess is

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Speaker 1: a big owner in the field. Their steak equates to

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Speaker 1: four twenty million barrels, a thirty nine percent addition to

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Speaker 1: proven reserves. We see Hess up more than four percent

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Speaker 1: of the close UH sixty dollars and ten cents excellent

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Speaker 1: that was gained about a buck a shared d Let's

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Speaker 1: just do a quick rundown what happened to food starts today?

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Speaker 1: And basically what happened is that the Mandalis made an

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Speaker 1: offer for her She and that's really the story Hers

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Speaker 1: she shares up twenty one percent on the day, the

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Speaker 1: biggest game for the stock since at least two thousand

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Speaker 1: two shares trading at a record uh mom de lease

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Speaker 1: up almost six percent, and so was Campbell Soup. I

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Speaker 1: mean that, you know, the Campbell gain more reflection, just

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Speaker 1: broader speculation that perhaps this one deal leads to others,

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Speaker 1: and general Mills and Kellogg kind of felt the benefits

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Speaker 1: of that speculation as well as their shares rose more

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Speaker 1: than five a nice jump for Hurts Global Holdings today

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Speaker 1: up about two to eleven dollars and change after they

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Speaker 1: reached agreements with Uber Technologies and Lift to supply US

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Speaker 1: drivers with vehicles. The Lift deal is building on pilots

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Speaker 1: in Las Vegas and Denver, providing set rates for drivers

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Speaker 1: will be serviced from dedicated off airport Hurts locations. The

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Speaker 1: program is expanding to Los Angeles and San Francisco, with

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Speaker 1: more markets expected to follow. And in fact Hurts is

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Speaker 1: also um uh providing um discount on rentals for the

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Speaker 1: Las Vegas Lift drivers. So it's a good good deal there. Well,

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Speaker 1: I'm just gonna mention three companies really fast because they're

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Speaker 1: all getting together tomorrow for a news conference BMW, Intel,

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Speaker 1: and Mobile I. The last one maybe not so familiar. Uh.

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Speaker 1: There are a company based in Jerusalem that provides sensors

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Speaker 1: that are used in self driving cars, and analyst said

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Speaker 1: this event that's coming up could be a game changer

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Speaker 1: from Mobile Line. It certainly was for its shareholders today

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Speaker 1: as the stock rose almost ten percent. Time now for

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Speaker 1: the volatility and gut support brought to you by CBOE

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Speaker 1: VIX Options in Futures. Volatility can be harnessed with CBOE

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Speaker 1: VIX options and Futures c disclosures. Learn more at cbo

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Speaker 1: e dot com. Slash Powerful outcomes VIX Well. Today, the

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Speaker 1: VIX saw its fourth straight decline. It's the longest in

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Speaker 1: a month. It's pushed the VIX to a three week low,

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Speaker 1: down point seven to fifteen point nine four even sell

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Speaker 1: investors still on alert with Written and Limbo as its

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Speaker 1: leaders fight to see see who will succeed David Cameron

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Speaker 1: as Prime Minister, preventing the country from entering talks to

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Speaker 1: determine its future relationship with the EU. Alright, Dave, you're up?

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Speaker 1: H Hi, my name is Dave. Are you just what

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Speaker 1: do you think you're doing? We're going for the price

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Speaker 1: on wil today. Hey, Mr Wilson. Pier one imports new

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Speaker 1: fiscal year, but the same old story, the same old story.

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Speaker 1: Absolutely the home furnacing retailer. When it reports earnings, investors

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Speaker 1: have reason for dread. The company shares fell more than

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Speaker 1: ten percent after earnings releases five times in the last

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Speaker 1: three fiscal years. The disappointments largely explained why shares a

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Speaker 1: Peer One have plummeted as much as eighty five from

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Speaker 1: a peak in May twelve. They trade under the ticker

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Speaker 1: p i R. Late yesterday, Pier One put out results

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Speaker 1: for fiscal twenty seventeens first quarter comany posts. The loss

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Speaker 1: was wider than on this average jessement in Bloomberg survey,

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Speaker 1: Revenue came up short of projections, and the company no

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Speaker 1: longer expects a second quarter profit after lowering its forecast.

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Speaker 1: Jefferies Annos Daniel Binder wrote in a report that Pure

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Speaker 1: one needs to get costs. He sees the reductions helping

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Speaker 1: the company counterfalling sales and pressure from competitors. Binder has

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Speaker 1: a hole rating on the stock now. Pier One shares

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Speaker 1: dropped as much as ten percent today in response to

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Speaker 1: the results. In the end, though they didn't fall quite

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Speaker 1: as far as they had in past quarters, you had

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Speaker 1: a bit of a recovery. Peer One closing with a

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Speaker 1: loss of five and a half percent. Jave Wilson, thank

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Speaker 1: you so very much. He's our stocks editor here at

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Speaker 1: Bloomberg and you can follow on Twitter if you like

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Speaker 1: at the one Dave up, Next Africa, eBay moving into Africa.

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Speaker 1: We're going to be talking to Jake Bright. He's the

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Speaker 1: author of the book The Next Africa. I'm Kathleen Hayes,

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Speaker 1: my cost pim Boxes on vacation. This is taking stock,

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Speaker 1: this is Bloomberg moving into Africa. The text seeing a

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Speaker 1: big starter for this region. Jake Bright is an expert

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Speaker 1: who has written a best selling book about this. He's

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Speaker 1: joining us on Bloomberg