>> the intersection of business and economics with the main street perspective. in ukraine plus $2 billion just at. will meet a woman who is ringing sustainable investing to wall street. to our viewers in the ice and those of you joining us from around the world, welcome. we have full coverage of the stocks and stories making headlines. megan hughes is in washington

where a federal judge rolls out the first fine against a commercial drone operator. peter cook follows was on capitol hill and at the white house on sanctions against russia. and the latest on the crisis. good evening. >> good evening. even as russian forces stand their ground and crimea, there is a sense that the next front in this conflict may not involve troops at all. zprom has just suggested it could cut off ukraine's gas supplies if ukraine failed to pay its debt for february and clearance to billion dollar debt to the company. the ceo said he saw a danger of a repeat of the situation we had m did justen gazpro that. caused supplies in

disruption in western europe and prompting western governments to accuse russia of using gas as a weapon. it could be different this time, perhaps not that powerful weapon. it is getting warmer here and is an to lng there abundance of gas in western europe that theoretically could be cindy still though that would be a first. iople seem to be adjusting, do not know if you could call it the new normal. thousands of people going to independence square to pay their respects to the dozens of people that were gunned down, shot dead 15 days ago. one and a don't for you. across there we came is app. lizard.and wizard it teaches children forgiveness.

all people inr ukraine. threat to cut off gas escalates the crisis for washington. peter cook has the latest on the u.s. response. how worried is the white house by these latest developments? >> this is another step up in the escalation. the spokesman telling reporters there is no indication there is much of a risk of a natural gas shortage in ukraine. they have a lot in storage. europe could sense him toward ukraine. the white house is not thrilled with this latest development. russia prides itself on being a source of gas around the world. it might not want to undermine that. of that -- exercises that

were planned a long time ago but still is a symbolic show of force. to talk.ides continue and secretary of state john kerry spoke to his russian counterpart by telephone. that is the latest. the russian threat to cut off gas has pressured the u.s. and the eu to speed up there promised financial aid to the ukraine so the country can pay its natural gas bills. one piece of news came from the imf. the head of the international monetary fund's team set the funding is prepared to support economic reforms. that was a condition for imf aid for ukraine. not a done deal. financialromised a lifeline. authorizing $1 billion in guarantees. the senate could take up similar legislation. those chambers considering giving the president additional set -- sanctions authority.

two republican senators want to hit russia where it really hurts. to forbid russia from participating in the world cup. added more fuel to the debate. their top republicans were calling on the u.s. to speed up. obama administration has been slow to approve plans. saying --ed this is going to be an ongoing debate going forward here in congress and in washington in light of what is happening to ukraine. should the usb exporting gas and oil to foreign companies -- countries or should he be

keeping it at home to maintain here. >> a couple of surprises in the february employment report. we will have a deep dive into the numbers and have a roundtable discussion with a focus on the workforce of the future. all this and more when "bottom this friday.es on ♪

>> welcome back. ons is "bottom line" bloomberg television. in the end it was about the weather but the weather did not matter. february payrolls were stronger than expected even though the data were distorted by winter storms. michael mckee joins me to put it into perspective. was it all about mother nature? were righthermen when they said it was going to

snow. the economists got it right. real good explanation because there was a big storm and weekend on -- and a lot of people who were out of work. february average comes from a different survey. there was a weather effect and you could see that in hours worked. thing that kind of would be affected by the weather. other good news in the report besides the number of jobs created were the revisions, smaller than we have seen in recent months but still on the right direction, pushing up the jobs total for the month. at this point you have to say despite the weather, the academy -- the economy hanging in there. >> what about that uptick we saw in the unemployment rate? >> the unemployment rate moved for the right reasons.

more people came into the labor force and fewer of them found jobs. that is what you would expect in a recovery that people think there are jobs that are available so the comments of the labor force and they do not all find job straightaway. the unemployment rate goes up. you cannot say that there is anything particularly bad in that. >> what does the fed make of all this? lookr the buspar they will past it. we have seen this pattern and a lot of the data. it -- one thing that gives him pause is average hourly earnings. we have seen no wage pressure until february when average hourly earnings went up .4 of 1 -- 1%. is something we will watch. >> for closer of -- look at how , i job market is evolving

most jobasking where creation is taking place in the u.s. >> today, it is a -- the smaller companies that are creating jobs. vast majority of the jobs are created by small new companies. these companies have some dynamic innovation. it is the small companies, it is an innovation economy. innovation is more the purview of small companies. they have to have some fundamentally strong innovation underlying them. this has been the purview of entrepreneurial ventures for a long time. large companies, i have been working with multibillion dollar companies over the past two weeks. they want to understand how do we get the entrepreneurial spirit inside our company because if you do not have innovation, you will die. >> you advocate a systematic

approach to innovation. does that mean that entrepreneurship cannot be taught? >> entrepreneurship can be taught. when i first started i did not believe it could be taught. over time i have become convinced it can be and i see that -- it being taught all the time. everything being taught is picking up one book and reading about it that is not what we are considering being educated. it is not sitting in a class. it is like learning how to a lawyer ortor or accountant. there is a body of theory that you have to look at but then you have to put it into practice and you move between these so i can be taught through action learning. the data is clear about this. the most important thing is the team. you have to have a very strong team and you have to have a team that is coherent. >> is that mean because the team is what is creating that energy, that focus, doesn't mean that somehow you have to take your own ego out of the equation?

>> that is critically important that you have to be able to collaborate with other people. you also have to have some sort of ego that you want to win and you will overcome the odds you mentioned discipline. an entrepreneur is someone who has more we owe us talk about the spirit of a pirate. if the fish are swimming this way you have to be comfortable going the other way. and being counter to that. it does not mean that you are a gambler. you are managing the risk in your going after it and you are incredibly disciplined. we always talk about having the spirit of up pirate it the execution skills of a navy seal. young people will have many jobs of the course of their career and no longer is the company responsible for keeping you employed. it is more up to the individual to be employable and have a set of skills and nothing could be more employable than being an

entrepreneur, an innovation driven entrepreneur in that you can create euro job area that is when you are taking your own destiny into your own hands. the ones who are successful understand they have to be very disciplined and focused because they do not have a lot of resources. they do not have the brand. when you look at them they -- to figurew to profit. beachhead we teach disciplined entrepreneurship but you have to be able to think creatively at the same time. it is a balance of things. what people are looking for are people who have the skills to create revenue stream, to create new products. when you get trained you learn how to create enough revenue, new products that will more than justify your own job. what we tell our students is do

not go out and try to interview for a job, create the jobs you want, impress the people that you have if you want to go into their company that you can create a job. that way you are controlling your destiny and ultimately you can change the world. >> for more on the importance of an entrepreneurial spirit, i am joined by our guest. "immigrantuthor of exodus." do you agree that an entrepreneurial spirit is crucial to succeeding in this emerging knowledge economy? >> more than ever. i agree with everything bill said. i am an example of that. i used to work in first boston and xerox, big companies and one day i created a technology that cause me to become an entrepreneur. i never looked back. forming to companies

which employed more than 1000 people. that is right about what makes an entrepreneur. the question you asked was -- about the importance, it is more important than other -- ever. worldst of developing changing innovations has dropped erratically. more -- this iphone has computing power than what existed on the planet the day was born. you could start building these world changing innovations using computers, using sensors, dna sequencing costs have dropped. artificial intelligence, are the advances are happening that make --possible for intrapreneurs intrapreneurs to do what government only did. quickscan entrepreneurship be taught? >> he can be taught. i am an example of it. age is 39.

most work for 10 to 12 years before they start their company. they learned on-the-job or they learned it through m.i.t. or other sources. it can be taught. anyone can be an entrepreneur. >> what do children seem to understand about the economy that it seems grown-ups do not recognize it question mark >> they aren't comfortable with using computers. you and i only started using these technologies, we were scared. to the kids they go on the ipad and start launching apps and they start to learn how to code. young, if we were in class together and we look at each other's work it was called cheating. when kids do that now it is called collaboration. we were brought up differently. >> uses that we must be technology savvy and collaborative in order to

compete effectively for jobs. can you explain this? >> yes. in the old world when you work for big companies, you hoarded knowledge. you kept it to yourself. knowledge.ared you work collaboratively. you crowd source ideas. information is abundant right now, it is free. your success depends on understanding what is going on around you and sharing knowledge. -- we are always connected. we are on social media. so muchs are changed over the last five or 10 years and we do not realize it. you have to share and you have to collaborate. >> is there such a thing as information overload, is there too much information out there? rex there is but we have to learn how to go with it. information is expanding rapidly. we are gathering more than ever before. we will have almost infinite

information. it is what we can understand and what can we do with it. it is a to s two understand the new era of knowledge and mastery. >> what are the most innovative ceo's doing right now, what are they up to? rex the company i do look up to is google. you have google developing self driving cars and developing balloons that can provide internet access. there buying robotics companies. they're worried about their market dying in looking to these mugshots as larry page calls them. world changing innovations. if they do not make themselves obsolete, someone else will. >> you talked about learning something, is wall street in the game at this point? street focuses on the short term. they're looking through four years out. if executive started learning

about the advances that i happening, anyre on the fortune 500 will start thinking differently. you cannot look short term anymore. you have to look at the next three-year plan, five-year plan. look at the r&d budget all the -- otherwise it will not exist. >> what are you telling your students at stanford, do they understand that they need this long-term vision? >> exactly. i tell them to take the risk and -- start upnt company. they will learn more and grow more. even if it does not succeed it is not matter. it is all learning. they have opportunities i could not dream about. them could build an app that is worth $20 billion and they could do good things and save the world. they have a unique opportunity. take the worst -- the best of it. us for our extended

look for the jobs of the future. please come back and talk about this. thanks for your time. still ahead, mastercard and visa teaming up to fight fraud. theks to a judge's ruling, skies could be wide-open for small, unmanned drones. we will have that story when "bottom line" continues in just a minute. ♪

>> be sure to check out the latest edition of bloomberg businessweek. you can read it on the go with our new app. it is 26 minutes past the hour. that means bloomberg television

is on the markets. street right wall now. >> it has been a strange day after that -- we got that jobs report. changed,ittle kicking into the red as we watched it. it did close at a record yesterday. there could be the thinking that some of the upside of the jobs report might have been priced in. there are concerns about what is going on in ukraine and whether that situation will continue to escalate. in terms of into visual stocks that we are watching, mastercard and visa, the two biggest critic card companies are creating a working adoptionaccelerate the of chip technology. they are under pressure to advance chip tell -- chip technology in the u.s. after a data breach exposed information of tens of millions of customers.

visa has said these chips that are used in europe could help address 70% of these frauds. we will be back in 30 minutes. more "bottom line" coming your way next. ♪ >> welcome back to the second

half-hour of "bottom line" on bloomberg television. thanks for staying with us. these are the top stories. the speaker of russia's upper house of government said crimea would be welcome as an equal part of russia. that is if the region votes to leave ukraine in an upcoming referendum. discussed the possible ascension to russia. employers stepped up hiring in february despite -- despite a blast of harsh winter weather. 170 5000 non-farm jobs were

added which was up from january. the unemployment rate rose to six .7% from a five-year low of 6.6% as more americans began seeking jobs that many did not find them. more job hunters suggests people were more optimistic about their prospects. manziel has signed a marketing contract with espn. he is been said nike beat adidas, under armour, and new balance which all submitted its. top draftof the picks. a major setback for government regulators when it comes to policing commercial drones. a big win for people already using the unmanned vehicles. a judge overturned the first ever attempt from the faa to find an operator.

operator. >> this is a huge deal. the judge saying there are no rules to enforce. the faa has contended that commercial drones use is forbidden. it is banned while they are in the process of writing these rules. they were supposed to be out in 2011 and now they're supposed to be out in november. you and i both know a lot of people have not been listening to the faa. drones have been used for real estate videos and movies, and documentaries and to shoot sporting events. there is one out there, a beer company offering delivery. they did receive a warning letter. this case was the only

incidents of a fine. now there could be a lot of commercial use. >> what is this case about? the pilot faced a $10,000 fine. it was a promotional video shot at the university of virginia in charlottesville. anddrone goes under bridges over pedestrians and cars. the faa said that his reckless flying. re are notsaid the enforceable rules. lessd a phone wing and than 15 pounds. >> what has the industry said? rexam have talked to the

industry and they are trying to walk a fine line. rails. want to see they want to see rails in the books yesterday. they said lack of roles has kept a lot of the bigger players out. we're seeing a lot of growth in this market overseas. they see this ruling underscoring the need for getting those rules on the books. >> joining us from washington. a correction. johnny manziel sign that marketing contract with nike, not espn. portion of food produced is wasted. the findings of a shocking "bottom line new report when "bottom line" continues. ♪

ofcongress passed a revamp agricultural and food policy that was supposed to save over 8 billion dollars in food stamp cost over 10 years but states are fighting a way to avoid those cuts.

some states doing to get around the cuts? >> the states are spending money to get money. the farm bill was passed about a month ago. there was made $.6 billion cut over 10 years. by raising the threshold of bonus money that you got for using a heating benefit. states were spending as little as one dollar a year and congress raise the threshold. states are raising the amount of money so they meet that threshold. they can get the extra money and the savings go away. >> where the state's giving the money they need to keep there benefits? >> that is one of the challenges and that is where you wonder what was the point. they're having to squeeze budgets for other programs to get the money available to make this happen. new york, pennsylvania, and connecticut have put the extra money for us but that pushes the money down to the state level.

you are looking at the possibility of budget cuts there. >> how are members of congress reacting? >> democrats are saying go states. a lot of folks, especially on the republican side, said this is how we are saving money. this loophole has not gone away. >> how many states might keep the benefits it might have lost? >> so far 16 states including d.c. that are possibly eligible. three, new york, pennsylvania, and connecticut have gone ahead. it will be interesting to see if there is any push in republican leaning states. as millions go hungry, staggering amount of food is being wasted. in a report from the department of agriculture estimates 31% of food valued at more than $161

billion is thrown out. joining me from washington is the director of sustainable development for the u.s. department of agriculture. welcome and thanks for your time today. >> thank you for inviting me. >> why is so much food wasted in the u.s., why is no one talking about this? >> food is wasted for a lot of reasons. asetimes it is as silly consumers to not like to eat or the apple that is bulbous. i putld be as simple as some carrots in the refrigerator and had to throw them away because i did not do the recipe. this is across the food

supply system. estimates that came out from the economic research service, just me i wasn't estimates. that is retailers, restaurants, and households. foodme out with 30% of the that is intended for human consumption in this country does not make it to our plates or does not make it from our played into our mouth. it is lost in the food supply system. i have to ask you as a professional who follows this, were you staggered as well about that amount, $161 billion worth of food? astonishing.t is 133 billion pounds of food is wasted. 161 alien dollars, that is money that is left on the table.

it is on the sidewalk in chicago waiting for someone to pick it up. it is a wake-up call, a challenge for businesses. entrepreneurs across the country to say what can we do, what kind of solutions can we bring to the table to reduce that food loss and waste, either reduce it or be more efficient about getting it to households, communities, andlies that could use it keeping it out of our landfills. >> are their new systems and technologies being developed and utilized to reverse this? >> absolutely. there are entrepreneurs and innovators who are stepping up to this challenge. in 2010 to hear about getting where x is wholesome food is available and getting it to the people that need it. 2010, donated food served 2.7 billion meals.

did foodpany that recovery after the super bowl, they got it to soup kitchens and pantries in the area. >> the food waste challenge was lost. how does that -- what does that involve and how have the results been? >> the food waste challenge, there is something we could be doing. it is an incredible economic opportunity. he joined with environmental protection agency to challenge businesses across this country to join with usda and epa and reducing, recovering, recycling food loss and waste. for any business out there, if you are doing your part, please let us know what we are doing. challenge.od waste

we will list you on our website. >> the massive list of cuts to the food stamp program, do they give your job more urgency? how many families could be helped if simple steps were taken? >> it is hard to know but though statistics coming out of feeding america, those groups are inspiring and they tell us that there is something we can do to help reduce waste in this country and get to the people who could use it. >> the director of sustainable food gelman joining us from washington. thanks for your time today. up, international women's day. we will take a look at what corporations are doing to empower women globally and highlight the ones that are getting it right. we will be right back. ♪

>> the international women's day form was celebrated earlier this

week at the u.n. intoheme was turning gratian into action. next steps to empower women globally. me in studio.s welcome to "bottom line." thebelieve women represent next emerging market. how so? >> in terms of capability that can come from truly engaged women. across the workforce. i do not think we have tapped in. >> why don't enough corporations understand that diversity and good capitalism not only make good business sense, they help the economy gained momentum? >> i think they do and many organizations do understand. these companies do understand that empowering women, engaging drivesnd economic input

profitability. >> that is also an economic imperative. leads toan input that profitability. corporate excellence and diversity are inextricably linked. >> which corporations are heeding the call? >> let's take qualcomm. it has a bouquet -- a boot camp for girls. onbring them up the curve those kinds of skills that the world needs. create economic and social value? >> sustainable finance or economics, or it is just finance. it is the new finance. just in terms of being systematic about incorporating environmental, social, and governance factors into the investment process. corporate sustainability is

corporate excellence for the long term. >> how does this manifest in the lives of women and finance? >> that is a complicated question. women in finance who work in finance or women who need finance, they need to use finance to empower themselves and their families. we talk about unilever. when you empower women and empower them, you make them more healthy and make their children more healthy. we will have better markets. this is about profitability. this is what people need to understand. hiring women is an economic input that creates better profitability. >> you talk about hiring, february's employment numbers were released today. the institute for women's policy research said women gained half the jobs that were added. where are women in this economy? many of them became the head of household because of the

recession. as you know, women still only make 77 cents on a dollar that a man does. >> i think that is changing fast. literacyo empower with about finance, we need to empower women. of those 175,000 jobs created, i am happy to say that we created a number of them. meansw financial literacy understanding long-term corporate excellence for sustainability. integrating these factors. >> your firm does provide invest -- investment banking and strategic consulting services. talk to me about your client posco concerns in an economy that is trying to gain traction? >> we are -- they're worried about volatility and the extent of economic growth and labor. you -- european mock its might be more worried about deflation. each region has its own issues whether it is india or china.

the global growth, global stable pricing, and global job formation, these are the issues that our clients want to talk about. >> we began the hour talking about entrepreneurship. what do you tell young women who are thinking about a career in business, thinking about sticking their own claim? >> what i tell them if you -- if you want to, to finance, common -- come in knowing that this is the best system to create prosperity. financed improperly is beautiful. economics is poetry if you understand that it rings to bear everything we know about human behavior, psychology, productivity, engineering, innovation. it is good to be a finance because it is a powerful tool. thank you for your time. i appreciate it. stay with us.

another check of the market movers is on the other side of the break. "bottom line" continues in just a moment. ♪

>> get the latest headlines on top of the hour. that does it for this edition of "bottom line." i will see you on monday. > it is 56 past the hour. but you -- let's get you caught up. we had the payroll report this morning and it showed a bigger than estimated increase in payroll additions and that has not given a lift to stocks. concerns over what continues to unfold in ukraine. the s&p and the dow very little changed in the nasdaq is down .5 of 1%.

we have been seeing a little bit more action on the markets. people have been selling treasuries. the longest decline for treasuries that we have seen. one isalk more about going on in the bond market and fixed income. havelked about what we seen going on. an decision in the stock market. we have seen movement into riskier assets. which is interesting given what has been going on in ukraine and elsewhere globally, given some of the global risks out there. >> our investors are rejecting will doept that ukraine strep the improvement. they're going back into stocks and junk bonds and selling treasuries. they are adding a that we will stay in this week spot. the economy will grow slowly

ontoh that we will hold corporate bonds and treasuries and betting that it will increase enough to sustain the companies that have incurred all this debt. we have this situation where people are plunging back into the same trades before the selloff in january. we backds are -- aren't where we were at year-end? with stocks near record high. >> the question is what has changed. people have backed away from expectations of how much yields can rise because there are questions about the u.s. economy and how much the economy can grow this year and whether the acceleration we sought the last -- end of last year is sustainable. aople are saying if there is slow growth environment,

conflict in ukraine, there's this question over china, it will send people back to the u.s. generally. it will support values more broadly. theunrest is helping market. >> you would think -- that might be true of investment grade corporate debt but you would think there would be more risk associated with the junk bonds, with the higher yields. are you seeing some hedging activity against all of this optimism? >> it does not paid -- pay to hedge. and has been a straight risk bet. people want to get some yield. it is still a low rate environment. john bond yields at record lows back to where they were last may. the question is you need [inaudible] if you want to earn money off of your savings, you need to go somewhere, where are you going to go?

an --nnot go to investment-grade bonds. .> thank you we will be on the markets in 30 minutes. "street smart" is next. ♪ ♪ >> good friday afternoon. i'm trish regan. welcome to the most important hour of the session. fox reacting to the better than forecasted jobs report an increased tension in ukraine. tom keene and i are scouring every market for your last trade of tomorrow. i took a power nap. >> excellent.