>> from bloomberg headquarters in new york, this is "bottom line." i'm mark crumpton. today, nato leaders meeting in wales show their support for ukraine. u.s. fast food workers holding nationwide protest. the sports industry's biggest dealmakers gather to discuss the money behind the games. to our viewers here in the united states and those of you joining us from around the world, welcome. we have full coverage of the stocks and stories making headlines today.

stephanie ruhle reports live from the bloomberg sports business summit. yang yang is in washington as workers across america protest low pay at fast food restaurants. we begin with ryan chilcote in south wales with details from the nato summit. good evening. >> good evening. the crisis in ukraine has dominated this summit. the president of ukraine has been seemingly everywhere at the summit despite the fact that the country is not a member of nato. he even managed to get himself in the nato family photo. hasmost remarkable thing he done here today is that he has prepared to introduce a cease-fire as of 7:00 a.m. your time tomorrow if some peace talks go forward. that is a big if. say about theato prospects of a peace deal with ukraine? >> they are very, very

skeptical. we heard from the u.s. military commander here. putin's keysdent plan is not credible. the idea that the russians don't have the enforcers in ukraine is laughable. russiasaid that perhaps has more than 3000 troops there. up from more than 1000. it is interesting that president petro poroshenko is ready for a cease-fire. the ukrainian military really on the retreat. they have lost a lot of ground over the last couple of weeks. ukrainian president thinks this is a good time to cut a deal. >> you caught up with the president of the european commission. he has been in charge for a decade. he is stepping down in a couple of months.

what did he say about his legacy? >> he didn't describe his biggest success. be saving the eurozone and saving the euro from collapsing. , heor his biggest failure says he would leave that to others to decide. have a listen. one thing everybody livingzes, we have been the most difficult 10 years since the beginning of integration. not only the financial crisis. challengey serious for europe, what's happening in russia and ukraine. most important security crisis in europe since the fall of the berlin wall. >> it is debt crisis that

continues to develop -- dominate the summit. we used that sound from the president. that was obama's motorcade moving. he has been very active with petro poroshenko today. nato summit in wales. thank you. breaking news from the u.s. federal reserve. the fed is releasing it survey of consumer finance that dates from 2010-2013. the report indicates only the rich have seen their incomes benefit from the economic recovery as earnings stagnated or fell for all others third median income adjusted for inflation rose 2%. a saw the biggest declines. coming up, confronting islamic state militants. we take a look at how world leaders plan to combat the

spread of isil into iraq and syria. stay with us. ♪

>> this week, israel announced miles asdeclare 2000 new territory. the move was condemned by the united states and the united nations. elliott spoke with israel's economy minister about the announcement. a plan id to progress cemented called the stability plan where each of the people governs themselves. this is what we are doing in the israeli controlled areas. you -- you say entity, >> wherever we hand them land and pullout, we shortly islamicer see

radicalism. of hamasradical regime that shot tens of thousands of missiles in israel. this notion of creating a state and handing it over to the arabs and hoping that it will work better than syria and gaza and lebanon is not working. we are not going to take that risk. >> what message has this announcement sent to moderate palestinians? what message does it send to them given how frothy relations are right now? >> it's time that each side governs themselves. we don't need to submit. we want them to govern themselves and for us to govern ourselves. we can't ignore the region. we have iran, iraq, syria.

the whole area is falling apart. the only area of stability is israel. we don't want to risk that. in the war oniend islamic terror. the war that we are taking against hamas is not unlike the battle against isis or al qaeda. if we don't all fight together, america, europe, israel against radical islam, there is no wind. -- there is no win. thatst people would say from the palestinian perspective, government without a state is unfair. israel has a cease-fire in place. it is holding so far. do you think israel was right to agree to the cease-fire? >> sooner or later, we will have to wipe out hamas. i'm not sure if now was the

right time. what we did was good. we beat thomas. -- we beat hamas. i am very pleased with the results. the free flow from gaza, is that ever going to happen? it absolutely can happen if they agreed to disarm themselves. we are not going to build a fortress of terror in gaza. drive toant to singapore whatever, they can't have their terror tunnels. if they disarm themselves, we would love for them to thrive economically. and davidnt obama cameron are seeking the support

of nato allies to stop the advance of islamic city militants in iraq and syria. riceounding director of university's baker institute and the former u.s. ambassador to israel in syria joins me from washington. welcome back to "bottom line." are the sectarian divisions in the middle east responsible for giving rise to militant groups like islamic state? >> yes. that is one of the major reasons . the sectarian divisions. it's a much larger issue than that. the lack of good governance in the arab countries, especially over the last many decades, the lack of participation in these societies, the socioeconomic injustices, the high rate of youth unemployment, all of these a sensehave played into of frustration, resentment,

despair, especially on the part of younger people in the arab and muslim world. the is real fodder for radical groups to come in and exploit. >> bill nelson says he will introduce legislation next week that will authorize u.s. air strikes against islamic state militants in syria. does president obama the legislative approval for such action? >> i am not an expert on the constitutional aspects of this. if the president does have congressional backing, it strengthens his stand in terms of bringing public opinion with him. airstrikes against syria are one of the major issues we discussed now. airstrikes against targets in syria. the theory behind that is that this is using syria as its safe expandingecially in

its territorial grab in iraq. this is a very serious matter. this is not the united states against isis alone. this is the moderate arab world and the muslim world against islamic radicalism. the arab countries and muslim countries have to stand up to islamic state because this is a clash of civilizations within the muslim world. isis considers these arab regimes as a near enemy and us as the far enemy. anything that is done in terms of airstrikes should be part of that willtrategy bring together the largest number of countries. "bottom line president obama says the nine states will degrade and destroy the islamic state militants who carried out

beheadings of two american journalists. do you believe there is a coalition of the willing ready and able to take the fight to the terrorists? >> not yet. the potential is there because if you look at the facts a threadly, this is that both sunni and shiite -- this is a common thread to all of these countries in the middle east. that threat creates an opportunity for a broad coalition to be formed to really defeating grading and isis. >> we have less than 45 seconds left. the militants stand right now -- do you believe they are a threat to the national security of the

united states? >> yes, i do. because of the foreign fighters that have come in from -- 100 from america, 500 from european countries. these fighters that come in and fight with ices can come back to their home countries and pose a terrorism threat. >> founding director of rice university's baker institute. joining us from washington. --, always a pleasure privilege to have you on the broadcast. atomberg tv is live all day the bloomberg sports business summit. baltimore orioles senior vice president john angelos joins stephanie ruhle. ♪

>> the sports industry's biggest dealmakers are gathered today for the bloomberg sports business summit here in new york city. commissioners, owners and players are discussing the business of sports and the money behind the games. is there nowle with baltimore orioles senior executive vice president john angelos. >> thank you, mark. we are talking orioles. period when5 year the orioles could not find their groove. you have had a great run this year. what changed? >> when we bought the team in 1993, the orioles had not been in the playoffs for a decade. immediately got them back to the playoffs. then we had a 12 year hiatus. the last three years, we have seen a return to the orioles

way. strongly in player development and scouting. and around pitching and defense. we wandered off a bit into the area of offense and buying a lot of free agents. >> would you love to see the orioles play in a different division? >> no, i would not. the history and tradition and intense competition of the american league east is exactly what you want. they are the iconic brand. you want the yankees and the red sox as much as you can. and the jays in toronto. you should not strain from that competition -- stray from that competition. it is good to have customers from all over the country. >> it's not just a great season for the orioles. you could be seeing a beltway series given how well the nationals are doing. what does that mean for the popularity and viewership? >> the ratings for both teams

have gone up tremendously. the mid-atlantic sports network has benefited from having first -- from having to first place teams. with both teams playing well, team phones are ringing off the hook. we are a long way from a beltway series. drivingoth teams and doing well is what you want. >> how do you manage the awkwardness of this? courtroomend up in a given what's going on with the two teams. there are other forums for discussing what goes on off the field. the experience with the network has been very strong. both ownerships are doing well in guiding their franchises to victory. while you are viewership has

been up, you have also seen a 35% spike in attendance at the games. is that all about the team just going well? >> i think marketing has a lot to do with it. in other sports which are less -- you haveriven to cast a big tent. you have to make sure that you are reaching out to all the demographics and offering all the different reasons to come to a place like camden yards. >> is it harder for you because it's not new york or boston? >> sponsorships is always a challenge when you're outside of those big three or four markets. you sell it differently. you are not selling winning. you are selling competitiveness. in the orioles case, you have the camden yards brand and the

60 year running orioles brand. everybody offers to sponsor different elements that they think are the most compelling. i think you can ultimately say to people, whether it's the venue or on tv, you have a story. >> when you are figuring out where are the best places to market the orioles, getting people to watch, getting people to come to games -- there are so many different places to you to spend your ad dollars, on the pages of a magazine, digitally, social media, how do you figure it out? >> you look at where people buy those. increasing eyes on digital. is stilln certainly where the most video is concerned. you keep your eyes on expert analysis like that.

we see it with our sponsors who are continually moving money outdoor andint and radio. most of their spending is going towards television and digital . i think it's the experience. it doesn't begin or end with money. it begins and ends with the experience. this is an iconic menu and iconic sport. it's a place where you can come with your modern or daughter or granddaughter. all different ethnic groups and socioeconomic groups. baseball sees all the things. you pitch a competitive experience. you can always deliver the top-notch experience. >> think you so much. .- thank you so much

mark crumpton, we will send it back to you. >> thanks. six past the hour. bloomberg is on the markets. julie hyman is standing by. let's look at where stocks are trading right now. we are seeing some gains. they have fallen back from where they were earlier. we are seeing a lot of people talking about the central -- the european central banks. setting the deposit rate even further into the negative with mario draghi calling for nearly $1 trillion in stimulus. that sent the euro below one dollar 30 in the first time in over a year. europe, deeper into the negative following that decision. the 10 year yield is higher.

france took advantage of the lower borrowing costs day. we will have more on the markets in 30 minutes. ♪

welcome back to the second half hour of "bottom line." i'm mark crumpton. thanks for staying with us. the united kingdom wants to see members areow nato willing to send troops back to iraq as army trainers. the possible return of military personnel to iraq to combat the rise of islamic state is a topic that could be raised at the nato summit. charlie rose speaks with ryan an to discuss what the u.s. needs to do. >> when the iraqis see us, we need action against a

common enemy. going to get a political foundation by leaving it to the iraqis to do themselves. into theirwired system. it only works when we are fully .ntently engaged it will take continued engagement. the white house will have to keep at that to get the necessary foundation. >> you can watch more of the interview tonight at 8:00 and 10:00 p.m. here on bloomberg. frustrated fast food workers are at it again, protesting in the thousands across the united states, demanding fast food chains mcdonald's, wendy's and the young start paying them a $15 in our living wage. yang yang has been following the minimum wage fight. it is quite where you are right now. where are the protesters? out here.uite

there are no protests in washington. mcdonald's behind me just finishing up its busy lunch rush. business as usual in the nation's capital. it's been a different story in other parts of the country. u.s. fast food workers make a median age dollars $.94 an hour. they're protesting for a $15 an hour minimum wage. a strike that's already well on its way to be the largest since this began in 2012. it all started when 200 workers walked off the job in new york. today, those numbers are expected to be in the countless thousands. one big change this time around his home care workers making an average of $60 an hour. another major change this time

is that civil disobedience has been exercised throughout the day. of major cities, streets have been closed and traffic has been stopped. sit ins have been staged. more than 100 workers have been arrested. >> let a circle back to there not being any protests in washington. we know congress is still in recess. why not rally in the nations capital? one, d.c. has passed and $11 minimum wage. one of the highest in the country. that is one reason why they are not here today. ,nother is these protesters it's not lost on them how divided and gridlocked the current congress is. there is a bill in the senate to

increase the minimum wage to $10.10 an hour. that is not going anywhere. they are taking their message directed the company. >> yang yang joining us from washington. and let's head back live to the bloomberg sports business summit. the commissioner of the national hockey league being interviewed by tom keene. >> the way the game is being played, the level of skill, speed, the competitive balance we have, which is perhaps the best we've ever seen and the best in all of sports. playoffs are widely unpredictable. how many series did we see where a game turnaround when a team was down 3-0? that is a testament to how the game is being played and how exciting and entertaining it is.

you combine that basis with the things we are doing around the the business of the game, tenants has never been better, ratings have never been better. , i guess look at this there is still fighting, but a lot of focus on the concussions. how is it different in hockey than the other sports? what is your to do list for player safety? >> great question. we are involved in a bit of litigation. the fact of the matter is, we play a physical game. fiscal contact is encouraged and we do it in an enclosed environment. , no matter how sick we try to make the game, there is going to be injuries. -- no matter how safe we try to make the game.

irst sports f league to make a working study group. we were the first sports league to do baseline testing, the first sports league to have protocols for diagnosis for return to play decisions, the first sports league to have a department of player safety which administers discipline. and the first to explain our discipline. we are going to announce it soon. we are not quite ready. we have interviewed a lot -- >> you have made this a front line issue. --which is why we want whether or not it's rule changes or equipment, education, we have taken this very seriously. >> let's have a moment of silence for steve ballmer.

he changed the whole game. changed the whole game with what he paid for a basketball team. >> he decided it was worth it to him. saw 350 million in a complete fabrication and i said that's like a giveaway for an nhl franchise. what is a franchise worth? >> it is worth what somebody is ready to pay for it. whether it's the ball mark transaction were the islander transaction or any of the other transactions going on in sports, teams and the big four leagues are becoming increasingly valuable. they have always increased in value. you are seeing more and more than ever before. the clippers was a confluence of things, including a particular purchaser t. i believe we have franchises more valuable than the clippers.

there was a story that came out that said we are ready to expand. nothing has changed on that front. we are not expanding, we are not relocating. the only thing about the story that bothered me was that we were going to sell four teams. -- everybodyt within sports understands the value, the unique character of the toronto maple leafs. leafs getle compensated if the islanders moved to brooklyn? >> the islanders are still geographically in their own territory. that would not involve competition.

decisions are made by the board of governors has a whole. >> it's not up to you. it's up to the board of governors. >> it's not any one team. >> does a team get compensated? >> only if the board chose to do it at the time. there is no right to that. aboutot of people talking las vegas. which is fascinating for all sorts of reasons. palace and sports betting and all that. do you feel like you need a piece of this action? >> frankly, when you see lotteries answering fantasy games -- and a certain fantasy etting, the lawyer in me perks up. the good or the bad news is, we are not a sport that susceptible

to a whole lot of gambling. most of the money is bet on to other sports. the idea of the number of canadian teams -- i was stunned how long it's been since the nordiques -- i thought it was 12 years ago. there, does that change her landmark -- your landmark? you have an asset and you expand -- >> it gives us more content. we have sold what we had to sell . if we expand in canada, it wouldn't change the deal. it was a good deal. from hockeyle away don't know february 1, 1993.

your tenure of service is extraordinary. what is your best practice? presumptuous -- >> you've been doing this for a few weeks. >> the way i think he needs to spend his agenda, what his vision is and build consensus. when you have the support of your owners, you can do almost anything. , do youn that vision deep south the national hockey league? or do you list the latitude and budgeted? have with allt we 30 of our franchises. they continue to grow. hockey is growing in leaps and bounds. there are players in the league drafted in the first round from california. being played in

record numbers in florida and texas. >> huge and texas. >> this characterization or suggestion that the sunbelt doesn't work -- a sunbelt franchise can't be compared when original six franchise -- to an original six franchise. , thereoriginal six teams was the first thought of exp ansion. ,> if you look at the game now it has never been played at a higher level. the speed is extraordinary. >> two new franchises doesn't dilute the game. >> it depends on how you do it. maybe you would adjust roster size to reallocate talent. you are going to cause a whole spate of stories that is going to lead to speculation.

we have not thought about any of those things because we are not in an expansion mode. we are getting lots of expressions of interest. all we are doing right now is listening. >> you said something extraordinary. from the2 minutes away berkeley center. >> we were having a discussion about the islanders move to barclays. i had to go there for an event desk and i was at the main concourse in 22 minutes. that was replicated in number of times on visits, including in rush hour. >> tell me about the experience -- that is for the jogger free. the ducks in the kings. -- that is further jogger free.

-- geography. it has doubled in the last fiscal year's. -- the last two years. >> eric holder holding a news conference to provide an update on ferguson, missouri. they have opened a civil rights investigation into the ferguson police department. that is separate from the probe -- the civils rights probe into michael brown. we will have more details on this breaking news as soon as we get it. ♪

>> welcome back. it's time for today's latin america report. brazil's central bank is signaling borrowing costs remain unchanged until at least the end of the current administration in december. they held the benchmark rate at 11%. "at thisthe phrase moment" from the communiqué. prepared to join the bidding to develop mexico's oil fields. a nation plans to open its offshore resources to foreign explorers next year. mexico finalized plans in august to allow foreign companies to bid on the rights to drill for gasoil and

resources. that is your latin america report for this thursday. stay with us. more "bottom line" after a quick break. ♪

>> >> stay with us. another check on the market movers is on the other side of the break. "bottom line " returns in just a moment. ♪

>> we have the latest headlines at the top of the hour on bloomberg radio and streaming on your tablet and on bloomberg.com. that doesn't for this edition of "bottom line " on bloomberg television. olivia sterns will be here for me tomorrow. i will see you next week. on the markets is next. is approaching 56 past the hour. that means bloomberg tv is on the markets.

let's look at where stocks are trading one hour since the closing bell. we have the rally. the s&p is now turning slightly negative. all averages seeing little change. we have an hour left to see which way stocks do head. the ecb cost decision to cut rates unexpectedly. we want to highlight some individual numbers for you. nordstrom. hitting a new all-time high today after announcement of one billion shares buyback program. the company reported better than estimated third-quarter earnings, but it's forecast for the current quarter fell short. bpare also looking at shares. they are falling by the most in more than two years as well after a judge found the company

acted with gross negligence in the gulf of mexico oil spill. which could mean billions more in fines. mean forhat that will the company. >> it's really bad. gross diligence, you have to prove reckless negligence. bp is pretty much to blame, according to this judge. faulting for 67% of the oil spill. transocean was only 30%. halliburton was only responsible for 3%. halliburton got off scott easy. they were called negligent, but not gross negligent. the people won't be able to file punitive damages. i didn't get to make as much money as i wanted to, give me more money.

that no longer applies to halliburton. it does now for bp. >> what is the monetary penalty from the ruling today? >> we don't know yet. a judge has to declare how much oil was actually spilt in the gulf of mexico. 43 hundred fine is dollars per barrel. it could be as much as 17 or $18 billion depending on what the judge rules was dumped into the gulf of mexico. lookingf that, you are at a continuation of these punitive damages that did not $9.2e in $920 billion -- billion earlier in the year. the cost could wind up escalating. analysts tell me, look, it's not going to happen. exxon fought their fines for 19 years. it has only been four years for bp. we had a statement from bp earlier saying they strongly

disagree with the decision issued today and will immediately appeal. end.will fight this to the it could go to the supreme court. >> we have to leave it there. thanks so much. big decision with bp. that's it for on the markets. street smart is next. ♪

>> welcome to the most them port and hour of the session. stocks in early lift but now paring gains as we head into the finish, fighting finish in the green. "street smart those quote starts right now. ecb president mario draghi said rising investors around the globe, his rate cuts and his call for stimulus. rules bp acted with gross