Toy are trying to raise up 9. 6 billion to buy a stake in italys largest phone company. Rules on major benchmarks. Banksere imposed after were accused of rigging libor. The u. S. Has attacked 12 refineries controlled by the Islamic State in its latest attempt to degrade and destroy the sunni militant group. Peter cook joins us from d. C. What do we know about these strikes . The third day of airstrikes by coalition forces. This involved both u. S. Aircraft, saudi aircraft, and aircraft from the united arab emirates. They went after modular refineries. There are 12 of them in eastern syria. These are refineries that the Islamic State was using to fuel forces in their own that part of the country. This was basically an attempt to hit them right in their pocketbook. These are refineries that are producing revenue for the Islamic State. These are targets that had been looked at for quite some time. Involved, as well. The initial take on the strikes were successful. Do not be surprised if more refineries and more of the infrastructure is targeted Going Forward. Buzzinge are still about president obamas speech at the u. N. Yesterday where he took direct aim at the terrorists and said now it is time for forceful action. It is very different than what he has talked about before and it echoed his predecessor. The white house is pushing back at the notion that the president sounded a lot like george w. Bush, but the president sounded a lot like george w. Bush in terms of language and tone. It is the most direct he has been in his appeal to the Muslim Community and his description of the muslim state Islamic State and the extremist groups and the threats they pose to the global community. It was a much more forceful take on foreign Going Forward and americas role in the middle east and the obligations of the rest of the global community. The message was certainly delivered to the World Leaders in that room. This is a speech people will be talking about for a long time to come, the president spent a good deal of time preparing for this speech. It was a new town that echoed from what we heard previously from president bush, and language alone. Figure so much, peter cook. Stay tuned right here on Bloomberg Television. The iranian president will be speaking. After a historic meeting with the u. K. Prime minister David Cameron. That was the first since the in 1979. Evolution we will bring you all the headlines from his talk starting at 9 00 a. M. Back to the market. The euro is weakening, nearing a twoyear low. The dollar is rising to a fouryear high. Are betting that mario draghi will weaken the euro to fight off inflation. More on what is going on in the forex markets, Jonathan Ferro joins us from london. Mario draghi plans to boost the ecb Balance Sheets. That is what is causing the turmoil . It is on one side of the trade. You also have to talk about how he is going to boost the ecb Balance Sheet. Cut ratese aggressively. He took the deposit rate negative. He has come out with a new asset purchase program. The bacon phone it the big component is funding for the eurozone banks. There is not much appetite. How does he expand the Balance Sheet . For a lot of people, the narrative right now is that he is going to have to conduct quantitative easing. I want to emphasize this point. The perception that he could do tot, that he should do that, bring the euro side of this trade lower, for the First Time Since november 2012, the move lower has been stunning. It has been predictable. In the meantime, the dollar seems like it is seeing pretty strong gains, hitting its fouryear high. Is this Dollar Strength or Euro Weakness . If you look at the dollar index, it is weighted against a basket of currencies. The biggest waiting is the euro. You are looking predominantly at the euro. If you look at the dollar separately, it is up against every single g 10 currency this morning. This is very much Dollar Strength. We are seeing it play out for several weeks. On the one side, you have the Federal Reserve with a new forecast for rates. There is a bit of weight being put on that. One of the reasons the dollar has moved higher. What a think we should Start Talking about is the impact of a stronger dollar on business, on markets. This is going to push down import costs. It is going to push down inflation. It is going to make the foreign earnings worth a little bit less. The dollar and the strength of the dollar could star biting the u. S. Economy and it is something we should Start Talking about. If it does, the rate hikes that everybody is talking about, you might have to push those back in little bit. That would be huge and significant here. Thank you so much, Jonathan Ferro of Bloomberg News. Moving and shaking this hour. It is apples ceo tim cook. What a difference a few days makes. Thats basking in the glow more than 10 million of his iphone 6s were sold. Now he is dealing with reports of the iphone 6 plus bending if you sit on it. The company pulled its new mobile Software Update after the program caused some people to lose cell service. Promising a new version of the Software Update being few days. In a tonight, be sure to catch my exclusive interview with former aig ceo Bob Benmosche. It is part of her latest edition of titans at the table. Is the largerthanlife wall street character who turned around the almost broken insurance giant. He is going to spend his retirement currently in croatia where he has a villa and a vineyard. In the piece, he has disclosed that his doctors gave him a most recent prognosis of 912 months to live in his years long battle with cancer. In one of our conversations, i asked him how hard it was to personally deal with cancer. I never was in a dark place. The hardest thing is telling denise. Then telling my son and my daughter. It was very hard on me. Then close friends. That able to say to them unfortunately, there is going to be a time frame here. Lets think about all the things we could celebrate of what we have already done. Thoughts went to keeping them from going into a dark place. Ask me, how are you feeling . Im feeling fine. Are you sure . There was a lot of that in the beginning . It has not ended yet, betty. [laughter] everybody asks and i say im feeling great. Doesnt get irritating . Very youre taking. When somebody has a terminal very your dating. When somebody has a terminal irritating. When somebody has a terminal illness, had you think they feel . What can we do to do exciting things . It is about thinking of your life and to join your life until you dont have a life. You can watch much more of my exclusive interview with bob in motion then motioned a Bob Benmosche tonight. Another titan. Derekl good night to jeter. Scalpers are looking anxiously at the weather as to whether their prices will go up. I bet you never had a boss like richard branson. Way to you here what he told employees about vacation time. After a historic twentyyear career, derek jeter is getting ready to play his last home game at Yankee Stadium. Baseball fans it is going to hit derek jeters on parade. Taking on the weather up in the bronx. It looks like it is kind of holding up there . Kind of holding up. It is raining. We have already seen some rain this morning. The National Weather service is calling for a 74 chance of rain. People are legitimately worried. Even mlb commissioner is worried. This is not any game. This is derek jeters final homestand. His final game in pinstripes. People have been talking about this moment since february. Ticket prices for this game skyrocketed. They fluctuated throughout the summer and then according to our friends before rain was a big factor, the average ticket price for a cd and Yankee Stadium tonight with 642. That is average. Wereighest price people willing to pay with 6,000. This cheapest ticket was selling for about 250. The numbers have come down a little bit. The prices have come down because of the rain. People are willing to pay world series prices to wave goodbye to derek jeter at Yankee Stadium tonight. This game does not even affect the postseason. The yankees are out of the playoffs. It is a huge game and a lot of money at stake with tickets. It has been a disappointing season if you are a yankees fan. What happens if the rain comes pouring down and all those hundreds of dollars of ticket prices . What happens to them . That is what everyone is looking at and everyone is worried about right now. Basically everybody loses. The yankees want this game to go on. It is a big deal to the city and a big deal to the same to the team. Exchanges would have to reimburse about 12 million worth of sales. Holders will only get reimbursed face value of the ticket. They will lose out as well. Shelby, thank you so much. Many Companies Paying tribute to the allstar athlete. Nike and the Michael Jordan brand started a trend earlier this year with this really touching, starstudded farewell at. Yankees,tting for the number two, derek jeter. Number 2. Yes, had to get that music in there. That was very touching music. Jeter has meant as much to nike as jordan has. Ellwood. Bring in mark he knows nothing about sports, just about shopping. [laughter] just about shopping. Tell us how important derek jeter has been to the nike brand. Incredibly important. He saw baseball through a pr crisis with the drugs and the steroid era. Mr. Clean. Ofeverybody had a shadow doubt cast upon them except for derek jeter. He was a great player. He was a mainstay for 20 years with the most valuable and most recognizable franchise. He did it completely clean. That is something that is truly valuable. Mark, you asked an interesting question. Maybe this whole Business Model of sports athletes endorsing brands and it has worked for them for this long and it is now kind of coming under pressure, maybe that model is starting to get broken. Like derek jeter comes along once in a generation. Now that we can access the endorsements sometimes through other than an ad, there are other things in play. Not tweeting were something drunkenly at 11 00 at night. They were beating up their fiances in an elevator. They were beating up their fiances in an elevator. They were not beating up their fiances and elevator. Might have been, but we would not have known about it. There are questions in the headquarters about whether it is worth hitching your brand to an individual. It needs to depersonalize. Anke an amazingly amazing sporting event moreeir lives are so much out there and it is so much harder to control the story of the athlete. Comparing how much derek jeter gets an endorsement versus other star players. He talked about tiger woods. Scandal, of course, not, 33 million. Why is derek jeter so behind these guys . A lot of it is the sport that he plays. Basketball reaches so many people and a younger demographic. Theybody is trying to get young consumers. A lot of it is baseball. There are concerns in 20 years about where baseball is going to be. You cannot say that about golf. You cant. [laughter] tiger woods launched the nikes golf brand. He is the one that they hitched their entire golf network to and it was phenomenally successful. I dont think derek jeter is ever going to make that money. Regardless of the fact that tiger may have had personal issues. Forion per jeter jeter per year is not bad. Especially for a baseball player. How would you rank certain athletes and their brands versus other celebrities and how successful they are in promotion promoting brands . When you look at kmart brand endorsements. ,f you look at Sofia Vergara she is the highestpaid actress on television, not because of modern family but because of what she makes out of bilingual ads. , lot of the fashion lines which are very identified with their endorsers, they make more money because they are creating their own company. When derek jeter is working with nike, he is not taking over the company. That is different. That might be why Michael Jordan is the king of endorsements. And hes after he retired is still endorsing. And better than anybody else. It is incredible. Wearwhole athletic becoming fashion. That is going to be a big boon for Companies Like nike . I think it is. Problem is that those close close that are perennial are not going to benefit from this. Should i wear my yoga pants on tv . I dare you to. [laughter] all right. Thank you so much. Mark ellwood. Evan. [laughter] of turning brands into profit, turning disneys frozen into cold, hard cash. Hasbro gets a shot at it. You are watching in the loop. I am betty liu. Our topa look at headlines. Regulators and china have found as much is 10 billion in fraudulent trade financing deals. Forge, andake, illegally reused documents for exports and imports. It gives criminals and illegal channel to move funds. Overseeing more than 36 billion , harvard picked an insider to run their fund. Theard branson is in running fors of the year. He told 170 employees at the virgin Group Head Office that they could take as much vacation as they want. As long as it does not harm the business. We will see how much harm we will see how long that lasts. We are on the markets. We did see a pretty big rally yesterday. Are going to good jobless claims in a few moments. We are on the markets again in 30 minutes. It is a question that affects all of us. The stock market is going up and the economy is getting better, so why arent americans getting a raise . Maybe they deserve a vacation. Mike mckee says you may be right to blame your boss. My boss is pretty generous. I dont know about unlimited vacation. There are a number of reasons. One of the most painfully ironic , the tyranny of the stock market. Unlike your paycheck, it keeps rising. Companies do need to maximize benefits to shareholders. The stock price up . You can increase revenue, cut expenses, or buy back stock. Hass the latitude that dominated. Since the recession, gdp has has beenrote growing, but topline has not. If you can boost the topline, you cut on the bottom line. One of the best ways is taking out of labor. Slow to hire, quick to cut. Here is a labor costs were rising during the last expansion. Here is what they are doing today. The other option, buy back stock. Billion inached 276 the first half of the year. Sinces the second busiest 1998. Companies also reducing number of shares. You put it all together and you get a graph like this, unfortunately. Corporate profits are near an alltime record. The s p is near an alltime record. The ever falling share is going to labor. Picking up,onomy is shouldnt revenue and income be going up . That is the hope. Janet yellen is banking on that. Attracts may have to workers with higher revenue growth. Revenue forecasts have gone up with the economy, but not as much as they were growing during the last time the economy was expanding. As private wages and salaries have been rising. What about janet yellen . Can she do anything to change that . She is hoping zero rates and qe are going to lift them in. The other irony here is that Company Analysts blame the fed for all the buyback. All right. That is certainly something to think about as we head toward jobless claims and the jobless market. Initial jobless claims, as we always look at on every thursday, they come in at 296,000. That would be below that key 300,000 level. How important are these jobless claims . How will they factor into the jobs report next week . They wont matter quite as much. They will add some data is what we are looking at. But Everybody Knows that we are not firing right now, but hiring. And continuing claims continues to be at 2. 4 . The market is fluctuating at a range. They did rally quite a bit. 293 thousand claims, below the 300,000 level. The 2. 4 million. That is also a little bit below what economists estimated. It is good news, because we are not seen a crash and jobless claims are not rising a lot. It does suggest job growth remains healthy. The more interesting number on a percentage basis is durable goods. It is down 18 . But we knew that would happen. It is not something we should worry about at this point because it is pretty much all boeing. Boeing had a really good month of july. They sold 374 airplanes at the farm bureau airshow. Borough airshow. You can see the difference in the numbers between reporting last month and this month. At the good news about durable the numbers is going to gdp are still rising at. 70 percentabout a rate. At a 7 10 rate. People are ordering more than they are able to deliver right now. Digest allcertainly of that Economic Data analyze how that plays into the markets today. Tonight on Bloomberg Television, we have Something Special for you. It is our next edition of titans at the table with the former aig ceo Bob Benmosche a. I travel to croatia to meet up with him. The larger than life wall street giant has turned around and almost ailed out Insurance Company following the financial crisis. This is the latest part in our series, which airs at 9 p. M. Eastern time tonight. Compared to other wall street titans, Lloyd Blankfein and jamie dimon, Bob Benmosche is less rested less recognizable, but you could not here where people came up to the hoping 64 co2 take it photo. Im really nobody. He talks about taking on th