considering sending more u.s. troops back to iraq. announcement coming as early as today. erik: inside chevron -- my exclusive interview with the ceo , and a private tour of chevron 's beleaguered offshore drilling rig. olivia: and the return of the hamburglar? why mcdonald's is bringing back its old mascots. here is a hint -- it has to do with millenial man. olivia: good morning. i am olivia sterns. erik: i'm erik schatzker. i have to say, behold h -- the whole hamburglar thing is really does. this is ridiculous. -- is really does. olivia: it is a progressive hamburger company could this guy

has stubble and only serves sirloin burgers. kind of creepy. let's move on. erik: treasury yields are 2.46 but themoving 1% -- crossed 1% yesterday. it is happening in france and germany. going onlots of things but one of the things that appears to be happening is that people are reevaluating their outlook for economic growth and possibly inflation in europe. that is one of the things in the background and there may be technical factors as well. olivia: enjoy your conversation fromer with russ blackrock saying essentially that is never made sense. bananas. all of a sudden -- erik: i've got a funny story for you. to anight i was talking

investor who called me he was watching bloomberg television and our colleague jonathan ferro -- olivia: love jon. erik: at one point when the 10-year bund got to five basis points, jonathan said, "i'm sorry i have to editorialize here, that is insane." said that that was the cue to sell. olivia: jon ferro moving markets. governor bank of japan for saying that the currency is unlikely to fall further. the yield is down 2%. erik: want to back down a little bit. olivia: my takeaways that jon ferro moves markets more than the boj governor. let's look at what is moving the markets and bloomberg. a suicide bomber blew himself up steps away from an ancient egyptian temple. four people were injured. the associated press is reporting that shortly after the explosion, police killed 2

suspected islamic militants who arrived at the temple with the suicide bomber. it is a southern city visited by millions of tourists every year. erik: harsh and pleasant meeting with pope francis today -- russian president flattery pugin is meeting with pope francis today. while the pope as the clock and loss of life in ukraine, he is not publicly placed any blame on russia. the leaders of germany and france and china to break the impasse over greece. angela merkel and francois hollande are expected to meet with the greek prime minister, alexis tsipras. talks this week on how greece can get more bailout money have gone absolutely nowhere. the greeks are running out of money and time and need to make the payments by the end of this month. for months the problem has been how greece is going to reform the economy. government has refused demands to impose more austerity.

members of parliament are growing fatter. >> we want greec -- are growing fed up. >> we want greece to stay in the euro very much. are reallyls serious, and what they are delivering at the moment is not serious at all. erik: a germany's paper is reporting that a number of lawmakers in germany plan to break with angela merkel, the chancellor, and vote for another eight package. .- aid package olivia: the engineer of the amtrak train that the real was not using his mobile phone. it was moving 106 miles per hour in the last minute before entering the current. industrial parks maker johnson controls is considering a breakout. it may spin off its auto parts unit that would allow the company to focus on other divisions such as its air-conditioning business. auto-parts generated more than half of its $22 billion in revenue last year.

tesla will start making deliveries of its model x electric suv three to four months from now. ceo elon musk says that more than half of the orders of the model x came from women. that is in contrast to the model s sedan, which has a mostly male customer base. they initially promised that the model x would be available last year. it is not, of course. those are your top stories for the time being. olivia: that is a pretty sexy soccer mommy car. i would get one, if i could afford one. erik: there we go. not a soccer mom. coming up in the next hour on "market day," my interview with the chevron ceo. about if oil can sustain pricing environments like the current one. campbell soup's scoops up garden fresh gourmet. highlights a flurry of food deals. and sir richard branson is

trending today on news he is giving new parents who work at virgin a year of paid maternity or maternity leave. more of that on them or television. olivia: president obama faces new criticism from a republicans for saying that the u.s. did not have a complete strategy for taking on the islamic state. it was what he had to say on monday at the g7 summit in germany. president obama: we don't yet have a complete strategy because it requires commitments on the part of the iraqis as well. about how recruitment takes place, how the training takes place. the details of that are not yet worked out. just two days later, the president could be prepared to announce he is sending more troops to iraq to train iraqi forces good peter cook more on the options under consideration. willne thing most people focus on and perhaps obsess over is the number of troops involved. what we are talking about

them according to a u.s. official, is fewer than 500 troops. right now the u.s. has 3000 troops in iraq right now training, advising, and equipping iraqi forces, and that would be the job of these new thing. to do the same the focus would be more on the western part of iraq, anbar province, of course, where ramadi is and where the islamic state has made some gains. olivia: how is it going to play in congress? peter: potentially could help the president with his critics who would like to see him do more to bolster iraqi forces to take on the islamic state. whether it is sufficient to satisfy john mccain, for example, who would like to see the u.s. take an even more aggressive role in iraq, allowing for u.s. troops to act as spotters on the ground to help iraqi forces, that remains to be seen. but he also has to be worried whot regrets, in particular are worried about mission creep and whether this might represent

too much of a commitment from u.s. forces on the ground. the president has to strike a balance here, and that -- again, this move could open him up to criticism on either front. i don't know if going from 2000 troops to 3450 is mission creep, but everybody is wondering what these trainers are going to be doing on the ground. you mentioned that some of them might be spotters. misnomer?r" a are these combat troops helping the iraqi army? notr: wellpeter:, they're on the front lines, lydia, and it is clear from u.s. officials talking about this that what the administration is training the iraqi forces to conduct this fight themselves. yes i'm a they will be located in areas where the idea is not to put u.s. troops in harms way. they will be training iraqi forces but they won't be there on the ground -- on the front line with the iraqi forces. that seems like a line the

president is not willing to cross at this point. olivia: peter, we have now launched several thousand airstrikes against islamic state in iraq. any evidence that it is working? notan come essentially, no, to put words in your mouth, but we are trying to recapture on bar, we have lost falluja and major provincial capitals. are the airstrikes working? what is the administration saying? what is the evidence? made thee president case on monday and you heard him in germany that at minimum, the islamic state has been knocked back in certain areas. they have been able to move to other spots like western iraq, where the progress is not adequate in the eyes of the administration and the iraqi government as well. more needs to be done. but this is still convinced that the iraqi -- the administration is still convinced that the iraqis themselves needed to wage this fight and they are hoping

that they will make some difference and help the great and destroyed isil, ultimately. this is the first response from the administration so far to what is happening on the ground in iraq. olivia: we should point out that several of our european allies are sending additional trainers. thanks to peter cook, joining us from washington. erik: coming up, my exclusive interview with john watson, ceo of chevron. we talk about the paec of oil projects and lyrical conditions critical to a big oil company like chevron and the shale business in america. ♪

olivia: good morning, and welcome back. i'm olivia sterns. erik: i'm erik schatzker. what's happening, julie? julie: three days of losses for the major averages. not just games, but games that are relatively substantial. -- gains that are relatively substantial. one of the things we have to thank, ironically, for the gains in stocks, oil prices. we are seeing the oil prices rise to a one-month high. we are seeing them their rising 201-month high. a couple of things that work here -- we will get the inventory data in about 20 minutes time that could show u.s. oil inventories fell for a sixth straight week. that would be the longest stretch of decline since august. inventory data -- we have had a huge bill in inventories because of the production. you see the declines we have had

in oil prices. you will be looking for those numbers today. crude inventories falling possibly 1.5 million barrels through june 5, according to our survey of traders. at the same time, output is going to be declining from very high levels. the highest level since 1972 in may. what you are looking at is the rig count. there has been such a drop in the number of rigs in the u.s. as you have seen declining prices. we are reaching a multiyear low here. just under 650 rigs. that bpd mention also has found that the u.s. has passed saudi arabia in terms of the amount of crude oil that it is producing. all of this feeding back to oil prices and also to energy stocks

, which happened to be the leaders in the session. energy stocks having the best day in quite some time. and some of the largest energy companies are gaining the most. you see the energy in a cap by 1%. those charts really tell a story. incredible. the u.s. is the largest producer of energy. thank you so much, julie. a look at some of our top stories on the bloomberg terminal this morning could apple unveiled its streaming music service and already it is under investigation. the attorneys general in new york and connecticut want to know if music labels conspired or were pressured into favoring apple. the company is not commenting. up inis trying to catch streaming music with rivals such as spotify and pandora. speaking of spotify, a new deal is pushing its valuation to more than $8 billion. that is double what it was worth when it raised money in late 2013.

a swedish phone company paying $150 million for a 1.4% stake in the company. the music streaming service has more than 60 million users worldwide. and larceny in the high-stakes world of blockbuster novels. king win random house has a copy of the upcoming "-- says the copy of the upcoming "50 shades of grey" sequel has been stolen. the erotictells adventures of the "50 shades" trilogy from the point of view of the billionaire -- snm-loving billionaire christian grey could i love when i get to say s&m, erik. poser top headlines. -- those are your top headlines. ok.: like the major producers, this country faces tough decisions on

how to manage political risks around the globe and whether there is a future for fossil fuels with the rise of renewables like solar and wind. interview withan the chevron ceo to look at what makes his company stand out from the pack. >> we are a little different, more upstream-weighted, more oil and gas production-weighted. is little bit different than some of our competitors, both in the downstream and in where we have chosen to invest. we are under weighted, for example, in russia and the middle east, relative to some of our competitors. we had to make some choices based on the investment returns that we see. for example, we have chosen up to now not to be part of southern iraq, even though we have done a lot of work to try to be prepared to participate. but we didn't see the economic returns. was: it seemed when oil over $100 that the independents had the best business

model. we are living in a different time and place now, seven months later. was big oil bill for price environments like this? been in the industry 35 years and we've seen the price dropped five times. costs canhange -- change. different physical terms, different risks associated. you have to have options because the pace of projects won't be exactly what you expect. we have the advantage to be able to do that. we have to have a different view of the business as opposed to the short-term view of the u.s. business, which is a blessing for this country. it is not the only thing that is going to be needed to bring energy to the world population. erik: elaborate on that last point. in theichelle business

united states has been tremendous for this country and the independents that fueled the growth have largely a accomplished those things. billion production is 4 barrels a day. the market from the greatest 93 million a day. it willctation was happen everywhere. it has not worked out that way. there are fewer places where the shale, the rocks off work and the system is in place. the world is going to need a lot of energy. it is going to need shale production, but it will also need deep water and other forms of oil and gas in order to meet the needs out there in the marketplace. erik: olivia, there's no question shale is revolutionizing the oil business. that is why, as julie told us a few moments ago, america, bp, produces th

more oil and gas and then saudi arabia. as john watson pointed out, there is conventional production in places like alaska, and that is why shale is in everything good it doesn't even come close to meeting -- it is a fraction -- 93 million barrels a day consumed worldwide. pretty stunning figure. it is a stunning figure, and as he also pointed out, i remember being with you at davos and everyone thought shale is awesome, it is going to be global. it is not a global story. americaat makes different is the pipeline could we complain about infrastructure, but there is an infrastructure to support the oil industry. siberia,n't exist in for example. that doesn't exist in northern argentina, where there are shale deposits. doesn't exist in parts of australia. the middle of australia is empty. even other might be an opportunity, it is much harder

to get the oil out of the ground and get to the market. olivia: and we have the legal system that enables ground rights. very cool story. erik has been covering chevron for months. you will believe what he came back with. erik: what more coming tomorrow. my interview with john watson and a look at big oil from the eyes of one of the majors. 7:00 and 10:00 p.m. eastern time tomorrow night. olivia: don't want to miss it. still ahead, the looming three million dollars traffic jam in the market. ♪

olivia: the u.s. corporate bond market has ballooned by $3.7 trillion over the past 10 years. this as the fed gets ready to raise rates. the result of concern about what will happen if investors suddenly tried to flee the bond market. erik: citigroup's credit we may bes say ignoring the bigger factor that could fuel the liquidity crisis. what citigroup says we should be focusing on. i want to know what that is. >> that is that everybody has put the money in the same place. all of the growth has concentrated in three types of investors in the past decade, and that is mutual funds, insurance coverage, and foreign investors. when people try to sell, who is going to take the other side? olivia: great question. how bad is the concentration on the buy side. who has been buying the most? about 1.5 has gone to mutual funds. as you know, they have to give

investors their money back when people want the money back. erik: now, it is a fair question, who is going to be the buyer on the other side. however, there are some investors who are not as heavily weighted towards bonds as others are. they may choose in a selloff, because they see attractive onces, to raise weighting bonds and reduce it with other asset classes. not like there's nobody there. always somebody -- nabila: well, hopefully. the things that dealers have slashed their balance sheet by end line. that is what people -- slashed their balance sheet by a lot. that is why people are worried. , perhaps they could buy the liquid things and still make money. olivia: steve schwarzman, speaks torik regularly, has an op-ed in "the wall street journal" this morning saying that the next

crisis could be spawned by the government, blending the lack of liquidity in the market on. fred -- on dodd-frank relation. nabila: absolutely. you have everybody from jamie dimon to janet yellen worried about this issue and regulation is a big part of it. it anis it fair to call unintended consequence of regulation? nabila: i think so. erik: i can't imagine regulators wanted to suck liquidity out of the bond market they wanted to do one thing and ended up with perhaps something else. thank you very much. at this point, olivia, i'm going to say goodbye. i've been on for two and half hours. olivia: you can take a break, great to have you could much more ahead. back in 2.

olivia: welcome back to the bloomberg "market day." i am olivia sterns. we are waiting crude inventories this on the morning that bp

tells us that the uss surpassed saudi arabia to become the world's largest energy producer. are rallying u.s. and we're seeing gains in energy stocks. energy rallying about 1%. we are a few moments away from the crude inventory numbers. we are expecting them to show that inventories are continuing to fall. it looks like supply as seen a little bit of relief. i want to cross over to julie hyman, unless the numbers. -- who has the numbers. barrels, thatlion is the decline that we saw. the decline that was estimated much smaller than that. distillate inventories rising, and gasoline inventories down by 1.3%. again with the headline number is that big crude oil inventories number come down 6.8 million barrels. you have oil on the screen behind me and it looks like we are taking a leg up. oil trading and at least a one-month high.

as we see this decline in inventories, this as we talk about a lot earlier from elevated production and inventory levels. the drop we are seeing in the past month or so from levels that were extraordinarily high, but again, this is a big drawdown, 620 million barrels last week. 6.8 million barrels last week. all right, julie hyman, thanks so much. incredible drawdown. i enjoy the chart you showed us earlier. like an upside down hockey stick on supply. let's get to the top headlines. russia, the u.s. has taken the crown as the world's biggest oil and natural gas producer. this is a going to data compiled putsitish petroleum, who out a big annual report for the energy industry. u.s. oil production rose to a record last year, gaining 1.6 million barrels a day.

the u.s. supplanting russia in the world's top spot. the emergence of u.s. energy has enabled the world's largest economy to reduce imports and caused a slump in global energy prices. president obama is considering whether to send more u.s. troops to train iraqi forces, as many as 1500 more american soldiers may now go to iraq. there are already 3000 u.s. troops there. months of u.s.-led by cap not stop islamic state forces from capturing -- u.s.-led airstrikes have not stopped islamic state forces from capturing large chunks of territory. the measure would give president obama fast-track authority to negotiate a pacific rim trade deal. michigan republican, cement tim walberg told reporters, "the vote is friday." getting democrats onboard is a problem and there may be a last-minute hangup on how to pay workers who lose their jobs because of a free-trade. goodies for business travelers -- you may be able to bench

watch netflix in your hotel room. marriott international says it will offer netflix on tvs in its guestrooms. select hotels will allow guests to use netflix by signing into their existing accounts on internet-connected televisions. guests can sign-up for a new subscription if they don't have one. it is currently available in six marriott properties with six more launching this summer. those are your top stories this hour. still the come in the next hour, richard branson leans in for gin's lucky- vir guys. and remember the hamburglar? he is back and are intended for a new generation and is not the only fast food mascot making a comeback. he also looks a little creepy. favoriteof hollywood's villain's are probably higher than the 20 16th presidential candidates. voldemort is doing better than george bush. --- jeb bush.

investors are hungry for food deals. ofte wave foods, the maker alternative products, agreed to buy a nutrition food company for $550 million. it was not the only big food deal yesterday. campbell soup announced the purchase of garden fresh gourmet, a maker of salsa products, and these are the latest in a series of package good acquisitions, including smokers purchase, -- the smokers smuckers purges and the massive $50 billion bid by bg capital for heinz and kraft foods. we have someone who most recently advised of the kraft deal with heinz and also with us is craig g.m. owner. let's start with you, frank. what is driving this consolidation in the packaged

food industry? frank: some of these smaller deals are health food and healthier food startups that the bigger companies really need to compete because consumer tastes are changing and the consumers want newer, fresher, different tastes. the bigger deals are happening because the retailers have a lot of market power and the bigger the distribution platform you have, the easier it is to get go tospace and be able to a walmart and costco and whole foods, like you are showing. and be able to get a good deal and be able to be on the shelf where you need to be. olivia: do you agree that the bigger deals are about lack of

growth and efficiencies, whereas the smaller deals are about picking up fresh players? aig: those are 2 big trends. moving away from the center of the aisle, and then there is the presence of 3g in the food industry, coming into buy kraft's buffet. nz came over they produced some of the big profit margins in history. these guys know they have to get their house in order or they will be next to be bought. you arethe sources w talking to, will we see more of these megadeals or these sorts of acquisitions of smaller organic players? craig: it's interesting, people are looking at white wave as a potential target, and here they are buying somebody. i am talking to people who say that white wave could still be bought. olivia: that is hardly a poison pill acquisition. craig: somebody could scoop them

up. kellogg is somebody i hear about. you will see this activity because the needs and growth through acquisitions in this industry. olivia: and let's be honest, all in milk is the hottest thing -- almond milk is the hottest thing. what sectors are you seeing that are particularly active? as i said, the fresh natural foods, startups, particularly the snack area. olivia: do they need to have a bigger parent company to grow? get a i think they can lot of growth on their own. we are seeing these natural food companies to write well -- and do quite well. but ultimately, if they are part a monde police or pepsico, they can get not only the national dissolution platform but then even an international distribution platform. you asked a minute ago about

what we will see, these smaller deals or the bigger consolidation deals. i think you will see both. to a certain extent i now at jive to what we saw 25 years ago with the banks -- i and knowledge eyes to what we saw 25 years ago with the banks, where we saw little deals going on and on the regional players who got bought by the big national players. we will see a full range of deals -- olivia: all right, certainly seeing it in the volume. i want to pull up a chart that shows the incredible surge in deal volume. that is incredible. in thee big megadeals smaller deals. rank, i don't know if you can comment, but i will try -- any sense of what warren buffett and 3g might by next? no, sir sigma they have a barbecue portfolio -- no, seriously, they have a barbecue portfolio.

althey need mayonnaise or mond milk? craig: people continue to mention kellogg. right up his alley, brand everybody knows that has fallen off on execution. but it is hard to say. it is a big deal and to digest , and it could be sometime before they jump in again. olivia: all right, thank you for joining us here. still ahead, billion now richard branson offering a paid year-long leave for first-time parents, mothers and fathers. sound too good to be true? details next. ♪

olivia: we are about one hour into the training session in the u.s. and it is time to get you caught up. look at this, olivia, the longest losing stretch since the summer has come to an end. well, is rising on the back of the 5% rise in the price of bread. you can see that athens is down today with one of the few rising market yesterday, and it is not just degrees stock market that is declining--the increased stock market that is coming because the bond market is also declining. alexis tsipras, greek prime to brusselsads

later and he will meet with angela merkel and francois hollande and hopefully they will thrash out a deal. it is not been the best of weeks when it comes to progressing on a deal. supply will come from italy and spain tomorrow. that is why the yields are rising there. this is the story of the day, german 10-year bund yields rising for the first time since september. i am told it is down to a brightening economic outlook, receding deflation fears. here are the three big movers across europe. ams is an austrian chipmaker. it is going to lose a contract to supply parts to apple's iwatch and iphone. standard chartered derives most of its profits from asia and the new chief executive started today and says he will eliminate waste and excess. national bank of greece and other banks are falling today. bnp cutting its aggregate estimate for 2015 earnings. julie come over to you. julie: it is a good day for u.s. stocks, mark.

thank you very much could s&p snapping a three-date losing streak. 170 points right now and having its best day in nearly a month. stocks rising here. if you take a look at what is going on in the bond market, similar action to what we are seeing in europe. that is, we're seeing yields rising. the yield on the 10-year at its highest in about eight months, in addition to the writing, outlook that mark referred -- writing economic outlook that mark referred to. increasing supply is putting pressure on prices. not to mention again the move we are seeing in the currency market. the dollar versus the yen. central bank governor said that the yen's decline is overcome if you use your common sense. he did back off on the comment somewhat, but nonetheless, the retain its games and is having its best day in six

months time. getting back to the u.s. stock market, want to mention 2 movers we have been watching. is netflix, having its best day in almost two months and trading and a record after the decision by shareholders to affirm the company's decision to split the shares. not any detail as to how exactly that split is going to happen. ubs is raising its price target on the stock to $722. olivia, i don't know if you know, by now you can watch netflix if you are a subscriber if you stay in some marriott hotels. that is a new contract that they have signed with the company, the first hotel chain to include netflix on the tvs in the rooms. olivia: i just learned that this morning and it almost makes me want to stay at a marriott. but the stockrl" has doubled this year. thank you so much, julie hyman. in asia, the nikkei and hang

seng deposit ending the day in the rent. they are holding off from adding the mainland stocks to the benchmark indexes. region,story out of the china's second-biggest nuclear operator surging in its shanghai trading debut. tocomes as the company hopes boost its nuclear power generation and cut pollution. this report from hong kong. has become the first nuclear power operator to list in mainland china. analysts say the company has a distinct advantage in the the mystic power market and strong earnings potential as the country expenses nuclear power industry. the listing itself is an indication of china plus nuclear ambitions. the country aims to more than double its capacity by 2020, and analysts say this will require $16 billion of investment every year. nuclear power firms needed to raise capital fast. to use itsit plans

ipo funds of $2 billion on 4 nuclear projects. now here are some of the top stories crossing the bloomberg terminal at this hour. in the wake of that widening corruption scandal, fifa is suspending the bidding process for the world cup. the secretary-general says it would be "nonsense" to begin the process now. potential bidders include the u.s., mexico, canada, and countries from europe. in the nba finals -- i actually watched this last night -- brian james scoring 40 points to leave with -- lead cleveland to a 96-91 win over golden state. stephen curry had 27 points for the warriors. : state was behind 17 points and during the finals before they rallied and pulled within one point. speaking of sports come in baseball, chris hairston of the san francisco giants through the first -- threw the first

no-hitter of the season, and they beat the new york mets, happy about that. it was his 15th career game. 15 games and a no-hitter. those are your top stories this hour. richard branson, the billionaire group, of virgin announced that his company will offer a full year of paid leave for all parents -- mothers and fathers. pretty good. catch,sh -- in order -- in order to qualify, employs have to fulfill limited criteria. pimm fox joins me to discuss. it sounds amazing. is the offer as good as it looks? put it this way, it is as much promotion as parental concern, because the number of -- eligible for this art 140, those who work for virgin management -- olivia: this is not a virgin atlantic flight attendant. pimm: no, exactly.

you have to have worked for the company more than two years in order to qualify for this kind of renumeration. but what i did was i looked at a bloomberg story that showed big companies, companies that have more than 1000 employees, and what they offer their workers. for example, take a look at google. they have 55,000 -- 55,000 employees. and they offer anywhere from 12 to maybe 18 weeks of paid leave. certain amount a of money for newborns. they also have copies like facebook, about 10,000 employees, offering 17 weeks of paid leave, whether it is for the mother or the father or the partner or whatever. and then bank of america, which has 219,000 employees, offers up to three months of paid leave. you have a variety of companies all working towards the same thing.

while it is wonderful for the potential 140 employees, this is than amore of a promotion transfer companies with more than -- olivia: i got you with the three months but that is paltry compared to the benefits in europe. bym: those are covered government relations. olivia: first of all, the u.s. is the only wealthy country that doesn't guarantee paid leave. and some of the banks you just mentioned offer more generous benefits in europe than they do in the u.s. pimm: correct, and a lot of that has to do with the local workforce and keeping employees happy. to compare virgin management with, as you said, virgin atlantic, is this like jumbo vs. piper. olivia: anyway, got to be psyched that dads are on it and not just moms.

here is what we will be talking about cummings and fast food mascots. mascots isnald's making a comeback. a little bit creepy, a little bit hipster. why they are making old campaign's new again with this hamburglar. ♪

olivia: welcome back. i'm olivia sterns. remember this guy? well, he is back but with a slightly different look. after 14 years, the hamburglar is making a comeback as a middle-aged hipster. mcdonald's is not the only one resurrecting its characters from the dead. kfc and burger king have jumped on the character come back bandwagon as well. for a closer look at what is going on, let's bring in claire sutton. before we talk about how creepy the hipster hamburglar is.

claire: kind of bizarre. olivia: why are all three countries bringing back mascots? did it in may and the timing is coincidental but they all three came to the same solution for the same problems that the fast food industry is facing as a whole. olivia: what is the problem? claire: people aren't eating as much anymore. part of it is the move towards healthier, organic, but part of it is that when we do eat burgers or fried chicken, people are gravitating towards more gourmet stuff. shake shack, that sort of thing. olivia: shake shack of loosely doing extremely well. chipotle doing extremely well. noticed aot singing or dancing french fry from shake shack. interesting that the strategy is to bring back the mascot. claire: they are going for millenials, and people remember

these and have this also -- have nostalgia for nabila or kernels- nostalgia for hamburglar or colonel sanders. out by, i was weirded but they brought him back for the belmont stakes. olivia: we have a visual explaining the timeline for when these food mascots have come and gone. they were really not around until the 1980's. claire: colonel sanders, who is a real person -- they used him in a cartoon like thing and then they got rid of him. a lot of people nowadays don't even remember that he is a real person -- he was a real person. they brought him back and got darrell hammond to play him and turn him into a caricature of a southern weirdo, because they talk about how he wants shot someone, punched one of his clients -- olivia: that is extraordinary

and i'm struggling to figure out how hamburglar with a stubble meets up with the new ceo's image of a progressive burger,, but that is what they came up with. thank you so much. love the story. much more in the next hour, including speaking to the head of the comity behind -- company behind the dutch whiskey maker could how it is appealing to american tastes and battling the rise of bourbon. ♪

olivia: good morning. it is 11:00 in new york and 4:00 in london. pimm: welcome to "bloomberg markets a." coming up, stuck in a range.

smalls band and yesterday how do you invest in this market? olivia: the hot new startup maybe a presidential campaign. why working with the 2016 candidates is surprisingly similar to launching a new tech company. pimm: the best chief executives as ranked by their own employees. who is at the top of the list and who didn't make the grade at all. ♪ olivia: good morning. i'm olivia sterns fit pimm. pimm: i am pimm fox. olivia: let us look at the top stories is our good the measure would give president obama fast-track authority for a transpacific trade deal. a leading of public and told reporters