it's midnight and hong kong. we start with russian president vladimir putin delivering his annual address to investors. he's taking credit for avoiding a deep economic crisis as oil prices humble and his country was hit with sanctions. bank the european central extends a financial lifeline to greece ahead of a summit that could determine the nations future. scarlett: the dinosaurs of "jurassic world" could gobble up the top spot at the box office for the second week in a row, blocking a pixar number one debut for the first time ever. pimm: good afternoon. i'm pimm fox. let's look at how the

markets are trading here mid-day. all eyes on what is happening overseas and greece and particularly in st. petersburg. the s&p, you can see, down about .3%. had been holding on to record gains for a wild. the dow is down right now by 56 points. moving to the oil markets, which roiled somewhat by the strength of the u.s. dollar. pimm: let's look at how fixed income markets are performing. yields moving lower, which means prices moving higher. there's a little bit of a bit under the 10-year and 30-year at 3.06%. let's look at how the dollar is performing against major currencies -- strengthening against the euro just a little bit. the yen strengthens against the $1.22.at let's look at the top stories

crossing the bloomberg terminal at this hour. russian president vladimir putin says his country is weathering the economic crisis better than expected, especially with challenges from slumping oil prices. he appeared at the economic forum earlier today and answered questions from charlie rose. putin: at the end of last year, many people predicted, as you well know, deep crisis in russia, and this has not happened. to stabilize the .ituation to draw the line the russian economy has accumulated in her strength quite well. putin also said his government has maintained control over inflation and has a sustainable budget with low .nemployment we will have more about the russian president in just a few

moments. the u.s. state department says global terror attacks rose 35% last year. two well-known groups -- islamic state in boko haram -- are blamed for much of the increase. the state department also says there was an increase in so-called lone wolf terror attacks in the west. now to france with judicial officials have named three investigating judges to lead a criminal probe into the germanwings plane crash. this comes two days after an independent inquiry on charges of involuntary manslaughter linked to the crash was announced. investigators believe the copilot purposely crashed the flight on march 24. a total of 150 people were killed. is throwingcb another lifeline to greek banks, increasing the level of emergency cash the banks can tap. depositors agrees have withdrawn more than $2 billion in the last two days. houses of protesters demanded the government find a way to stay in the euro. frameime minister put the

-- the blame squarely on the european union. tsipras: ther european union should go back to its initial principles of solidarity, justice, and social justice. issuing strict economic measures .ill lead us nowhere the so-called problem of greece .s not just a greek problem it is a problem of the whole european union. betty: eu leaders will hold an emergency meeting on monday. greece will have to default on payment if there is no new deal. and charleston, south carolina, the suspect in wednesday nights church massacre has been charged . dylann roof has been charged with nine counts of murder and one count of weapons possession.

he's accused of killing nine people at the emmanuel african methodist episcopal church. south carolina's governor is calling for the death penalty. the two convicted murderers who escaped from a new york facility are among america's most wanted. the u.s. marshals service added the escapees to their most wanted list. the fugitives have been missing since june 6. a prison employee is accused of helping them. the european union is warning google to prepare to pay a big fine and that antitrust investigation. the competition regulator is accusing the search giant of squeezing out rivals in the comparison-shopping market. the fine will be set at a level to ensure deterrence. a pioneer in the cable television world has died. ralph roberts founded the company that became comcast in 1963 by writing a small cable-tv system in tupelo, mississippi. comcast has grown to become the

nation's largest cable provider. his son is now the chairman and ceo. ralph roberts was 95 years old. those are your top stories at noon. coming up, much more ahead -- tiger woods loses his grip -- literally. there it goes. the first round of the u.s. open. we look at why he played so poorly. pimm: we will also talk with the founder of golddaddy -- godaddy about his new business selling high-end golf clubs. in the box office wars, "jurassic world" could set more records in its second weekend, forcing pixar to suffer its first debuted that does not hit number one. the toprcling back to headline today, and almost strident russian president vladimir putin's up to his guns at the st. petersburg international economic forum, dismissing the effect of western

sanctions and insisting to charlie rose that russia is not to blame for the conflict in ukraine. provision -- president clinton i do notent putin: like you using the term aggressive. we are not being aggressive. we are persistent. we are consistent in pursuing our interests. betty: with us now, our editor-in-chief of bloomberg editorial. good to have you here to give us some analysis. you saw the audience seemed to be receptive or maybe even charmed by what he said, but in the united states, he is widely considered a bully. most of theer people in the audience were russian, so you would not lose points. there was thew same -- he's very aggressive. he has charm and flair but makes

-- takes no time at all to make the points he needs to. inside russia, what people have shown continually is appalling pictures of atrocities against russian-speaking ukrainians, and the way in which he has depicted himself to the russian people is of someone who is defending good standards, morality, almost things. being accused of being aggressive is the last thing he wants, even if that is totally true. pimm: i noticed that the former chancellor of germany was also in the audience. if you are angela merkel and listening to this panel discussion, what do you take away? john: you are possibly embarrassed by schroeder being there, but that's not surprising given business interests. your main thing with angela merkel is patience is beginning to run out. they had an initial bond because she could speak russian. sometime around the shooting of the airliner, after that, she began to get more and more angry

. merkel is one of those people you talk to, and she is very straight, and i think putin has lied to her too many times. betty: opinion polls, if you believe them or not, still show by aputin is supported majority of the people in his country. clearly, sanctions so far, which have crippled the country, have .ot worked yet what will make him pay attention? john: you are actually right -- they do not work from the point of view of immediately persuading the russian people that putin is to blame. you are beginning to hear slight mumblings from the oligarchs, although there was reputedly a meeting early on where one of the oligarchs complained about the fact that he was losing roughly $1 billion because of the sanctions and clinton -- putin immediately said, "well, billion."you $20

it is not something he thinks the business community cannot take. the russian people think their way of life is under threat, and they see putin as a strong man. but you can be a strong man who , but whening results it does not work, he becomes another bully. he is clearly stoking nationalist pride. i understand there's a patriot park open because he'd rather talk ideology to get to the nuts and bolts of what is happening -- rather talk ideology then get to the nuts and bolts of what is happening in the country. john: because the nuts and bolts are not very good. the prosperity of russia is anchored around very few areas, and it's a very tough country or most people to grow up in. the one thing he did do when he came into power -- he did right the economy, health by oil prices, and he also had that

ends of self-respect. russia had been humiliated in some ways. .e tapped into those two things with ukraine, there's a sense he may have reached too far. you can see some evidence -- i agree, most of the evidence is that the russian people as a whole are still bound up i this propaganda, and it is very clearly propaganda about what the ukrainians have done, but there is some evidence -- people's sons have died in ukraine, and that is filtering back. pimm: you mentioned energy. i want to get your thoughts on energy commodities in russia and china. sitting to vladimir putin's left was and that who had been an advisor in the past to the chinese government about business affairs. they were saying that russia and china should be great allies and fantastic partners, but there are very few chinese people in the audience.

he pointed out that he was virtually alone. he said there are very few russians in china, and that is true. you go to beijing, you do not meet a lot of russians. you meet russians in nightclubs in london and you meet them owning football clubs, but not .n places like beijing also, it's a difficult relationship because russians are terrified by that border between them and china. on one side, there's millions of chinese people, and on the other side, very sparsely populated russian territory, and the russians remain deeply suspicious about that far eastern border. n at that conference raised the prospect of aiding greece. john: it would be a far-fetched and rather gambling move, exactly the sort of thing that putin might do. the answer is he does not have enough money to do it in any kind of substantial way, but in

terms of making an offer that somehow gives greece another and interposehs himself in the west. does is what putin about self-respect, making russia seem as though it is part of it. he leapt on the instance of. punishama failed to assad for using chemical weapons -- he left on the instance of syria. that when greece got in trouble, they came to the defense of their orthodox cousins, which is also an important part of the putin narrative. the answer is i think he probably will not, but it's the sort of gambled at someone in his position might try. pimm: well done. i want to thank you for joining us. appreciate it. still ahead, it was that kind of day for tiger woods on day one of the u.s. open. the 14-time major

champion opened the tournament with 10 over par. will tiger ever regain championship form? that's next. ♪

pimm: welcome back to the "bloomberg market day." i'm pimm fox. betty: let's get a check on how the markets are trading. let's look at some of the big movers here with conagra. reporter: that's right. conagra is the best performer in the s&p today, hitting an after janice partners revealed a 7.2% taken the company -- after janus partners -- after jana partners

stake in the company. another winner today is kb .ome the worst-performing us home builder stock this year, but it reported earnings that the beatst estimates -- that analyst estimates. the stock is having its best day in more than two years. the strong results giving a nice boost to other homebuilders. finally, moving on to netflix, a record highch earlier in the session, but it has fallen just below the negative mark. oppenheimer did raise their price target from $610 to $775 a .hare the new target reflects the company's plan to go international, to enter japan, spain, italy, portugal, and cuba

by the end of this year. if you come inside my bloomberg terminal, we can see how international subscriptions have had a steady increase. in the fourth quarter 2011, about 1.8 million subscribers internationally, but now, they've got about 21 million subscribers, a rise of about an thousand percent -- of about 1000%. betty: that's incredible. it makes me think -- how much does it cost to acquire each subscriber, and when will they be able to make all of that back? reporter: subscription rates around the web could be cheaper than here, especially when you factor in subscription rates and wireless and internet that you have to pay for. betty: very true. thank you. coucheverybody will be a potato. shares of ebay are rising. the online marketplace has

agreed to sell its 28% stake in .raigslist back to craigslist even i also says litigation between the companies will be also says ebay litigation between the companies will be dropped. and houston becomes the 10th north american city served by japanese airline nippon. the chief executive says he is looking for additional destinations in the u.s. heartland. and walmart wants to make sure you don't walk away with the store -- literally. three years after the world's largest retailer moved greeters away from entrances of many stores, now, they are coming .ack "wall street journal" says it's because the world's largest retailer wants to improve customer service and deter shoplifters. that's a look at some of the

day's top stories. betty: we want to go now to sports, specifically golf. tiger woods is a three-time open champion, but yesterday, he literally lost it. pimm: this is the eighth hole. he had to hack his ball out of knee-high grass. he lost his grip on his club, and you can see it went flying. he ended up shooting 10 over par. he has never done this poorly of open in the first round, and today, it's not getting any better. through two holes, tiger has made yet another bogey. golfer myself. i don't know a lot about it, but that does not look good. pimm: you need to get the ball in the hole with the fewest number of strokes. betty: and you need to keep your grip on the club. gets in the ball hole, it doesn't matter how it gets there. betty: it seems this coincides

.ith viewership viewership numbers have been going down. fox sports has a license to carry u.s. open tournaments for the next 12 years, and they are betting big with things like drones, robotic cameras because they want to try to get more young people to watch, but we are missing in some respect a superstar like tiger woods to get younger viewers on the platform. pimm: you have rory mcilroy, .hil mickelson you do have many other competitors who are very good. it's just one of these things woods has had physical problems. a back injury and so on. has been tough to watch him struggle. it really has. pimm: shooting 80 -- that still is not too bad. i mean, for an amateur. betty: but he is no amateur.

the founder of godaddy and now the founder of extreme golf joins us at the bottom of the hour to find out why we should own a set of high-end golf clubs. ♪

betty: this is the "bloomberg market day." as the deadline looms for greece 's deadline extension, flight from banks has accelerated. pimm: we explain the history of capital controls. brendan: deadlines coming greece and deadlines go. here's a way to know it is now serious -- at least one european official has brought up the idea of capital controls, laws that keep domestic savings in a country or keep foreign investment out. according to the imf, countries

have spent the last two decades relaxing these rules. developed economies are much more likely to allow capital over the border. developing countries are only a little more likely. for a while among economists and in particular at the imf, capital controls were considered something polite countries did not talk about. that was before the financial crisis. 2008, a team from the imf arrived in iceland and helped the country pass a law that set essential you cannot get money off the island unless you were using it for travel or to buy goods. 2012, the imf kind of came around, disrupting capital .utflows this is an attitude that came in handy the next year when cyprus, working with the imf, decided that among other things, international transfers of more than i've thousand euros had to be approved by a committee. greece -- if you have euros in

that country, there's already a very good reason to get them out. hence the possibility of capital controls. what have we learned in's 2008? first, it helps to literally be .n island second, education helps. if you connect going to people why they cannot travel abroad with more than 1000 euros, you have a better chance of getting them to obey -- if you can blaine to people why -- if you can explain to people why. the imf no longer speaks about capital controls. it says instead capital flow management. i will say goodbye and hand it over to you. betty: we will leave you but have much more on the "bloomberg market day." ♪

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top stories, russian president vladimir putin has choice words for the united states. he appeared at the st. petersburg international forum. one topic was russian relations with the u.s. he's used washington of meddling in his affairs and not considering moscow's own interests. onthey are trying to impose us their decisions and standards without thinking about how we understand our own interests. as a matter of fact, they are trying to say we know better what we need. let us decide ourselves what's our interests and needs, based on our history, on our culture. betty: he also said his country is weathering the economic crisis better than some expected, especially with the challenge of slumping oil prices. unemployment the entire in 25 states last month, in many cases due to people who entered the

job market but could not find work. west virginia has the highest, at seven point 2%. the nationwide is 5.5%. delaware is the latest state to ease its marijuana laws. a billernor signed saying that -- fifa's disgrace is not confined to the courtroom. flis also a box office op. flop the biggest moovie ever. distribution from after taking in only an hundred $918,000. they to department says

did 41 people, mostly for heat issues. the black hawks won the stanley cup for the first time in six years when they defeated the tampa bay lightning. in the next half hour, move over. why retirement homes in florida -- pixar suffers its first debuted that is not number one and google is facing as giant antitrust fine from the european union. how much the company may have to pay. it is a friday afternoon in june and the u.s. open is underway. many of you are thinking when his tee time and where is my bag. season you have any choice white -- this season, you have a new choice for a golf club.

backl set will set you $5,000. why are they worth this much money? with me is the founder of the company. owner ofso the former go daddy, who put danica patrick is one of the key spokesperson. bob, what are you trying to do with golf clubs? bob: the whole idea was to make the very best off club that has ever been made. that was the charter i gave my engineers when we started the company. it.pent a long time doing there were no budget constraints. spend whatever you need to. take whatever time you need to. use whatever manufacturing process you needed to without

regard to cost. the charter was, build the best golf club that has ever been built. we believe we have done it. betty: for those who do not know about your clubs, what makes them so different? why are they worth $5,000. bob: the reason is first, they hitting ironst you're going to find anywhere. them,, when you hit they are soft, they feel flush. they are also incredibly forgiving. you can hit them off center, you can hit them anywhere not on the sweet spot. if you get just about the same shot you would if you hit it perfect. these clubs are one of the kind -- one of a kind and revolutionary. betty: which one are you holding? bob: a 9-iron.

our look is, we have tungsten weights distributed throughout. even the process of doing these thehts is several times cost than the whole club for other companies. betty: you're giving some of these golf clubs away to professionals on the pga tour. that is different from what other golf club companies do. they sell them to consumers first. you're giving them away to professionals. absolutely, but all companies do that, betty. in many cases to have certain golf players player club, not only do give them to the player, you have to pay them a significant fee. betty: i imagine all companies are doing that, but are you doing that first as a strategy

before you market to consumers? bob: one of the things we want to do is get these clubs in the hands of influencers, people who play golf and are fanatical about it. people respect what they say about equipment. we know that if they try these clubs and had them once, you only have to hit them once or twice, and you know they are a breed apart. betty: when you do give them away some of the professional golfers, are you paying them to use them? how much does it cost to get them to use one of your products? bob: it all depends. some contracts i'm not at liberty to discuss. it is always in the six figures for most of them. betty: r bloomberg story says that you are not worried about profit margins, these are

expensive to make, but they are also sold at an expensive price. what are your margins, if you can disclose that? and are you making a profit at all? moment, we have only been selling our clubs since april, so we are not profitable. i believe in many ways we have lightning in the bottle. it is quite possible we will be profitable this year. if not, for sure next year. betty: are you finding this yourself, bob? bob: absolutely. all my business career, i have , noone thought and that was partners. that the best partner is no partner, especially given the eccentric way i run things. it's totally on me. betty: how much has a classy so far -- has its cost you so far?

how much have you invested? bob: i just bought a new headquarters building and paid $4 million for it. that, a number of equipment and so forth, i probably have $6 million in it. in these newlion golf clubs. thank you for joining me. for joining usch on this friday afternoon. still ahead on bloomberg market day, which cities are pleased to have the biggest economic growth next year, nine of the biggest gainers are in one state alone. it is florida. you can thank your grandma for that. ♪\

betty: welcome back to "bloomberg market a." day." it has been a turbulent week for european markets with all the concerns about greece. down 8/10 ofark is a percent on the week. if we look at today, what you can see from this chart, up almost 4/10 of a percent. the markets are ending the week on a high. a similar picture if we look across at the benchmarks. the dax is down 5/10 of a .ercent otherwise, green across the board. i wouldn't show you stocks we're drilling down on today. you can see the gains there.

athens stock exchange, portugal and italy, up more than 1%. these are three of the best-performing benchmarks in the world today. two things have happened to try the risk appetite. there has been emergency meeting called on monday between eurozone finance ministers and leaders. reach a deal on greece. alexis tsipras says that he is confident a deal can be reached. the second thing is that the ecb has raised the maximum amount of emergency funding that greek banks can get. this is a key change and should take then threw two monday as well. if you look at the stocks we're watching, ellen nick telecoms company is up, but out the bank national bank of greece are both even though they were gaining earlier. that is because the ecb said they are going to review emergency funding monday. it sends a signal to

greece that the situation is serious. betty: in asia, chinese stocks have their worst week in heaven years, fears that this might be the start of the painful correction analysts have been predicting. week has been uneventful in china. all was well this time last week. it has been pushing to extreme levels. long-term average of valuations are 10 times expected earnings, we are now pushing to 19. that is within a span of 10 months. there's concern over what regulators will do next to manage the risk of outstanding debt. it may actually be the start of a bigger winding down. i hope not, but we will see. betty: i want to get straight to julie hyman with a look at what is going on with things here.

we are heading deeper in the red. want tonvestors do not go along into the weekend given the uncertainty still surrounding greece. most u.s. investors are saying that the fed is a heavier weight in terms of how they make their investing decisions versus greece. we are seeing the major averages down a third of 1% within the s&p, sectors are doing worse, including energy. down. pulling the dollar is down 2% and $ 59.20 a 5920 -- barrel. speaking of china, as we just heard, he saw the decline in

chinese stocks and there's concern about the chinese economy. we have a report on manufacturing for market coming out next week that may show manufacturing. not good news for copper. heading for the longest run of weekly losses in two years. down one or half percent a day. the commodity front, oil and copper are too you want to watch. i mentioned what is going on with the dollar. the dx y versus a basket of currencies, the euro has been doing poorly. it is been helping the dollar do well. up a 10th ofw 1%. i want to take a check of the volatility index. it measures perceived volatility in u.s. stocks and is called the fear index. it measures concern. we saw an uptake around noon.

we have in trying to get to the bottom of it, what happened to cause the uptick in volatility. it coincided them what was a bit of a lowering in stocks. we will figure out what is going on there. betty: very interesting, that spike. thank you. now to look at some of the top stories. that's in the bloomberg terminal, at the white house come awaiting a supreme court ruling on obamacare. there is a new report on it. repealing the 40 look act would increase the budget deficit over 10 years. raise economic output because more people would work more to make up for the lack of health care subsidies. wants aa administration forincrease over a decade trucks. truck manufacturers must be in full compliance by 2017.

the at phnom is dropping its vietnamuirement -- and is dropping its visa requirement. it already gives reciprocal exemptions to nine asian countries. that is look at the top stories at this hour. looking for the next boomtown? midland,ading to texas. instead, look at the sunshine state. florida dominates the areas of -- naples,the list is 4.9% growth. the mega retirement community

known as the villages is third. i want to bring in mark crumpton. mark: i thought it was interesting. we both had the same notes on this. this is fascinating. you'd think at some point florida became synonymous with people going to retire, especially if you live in the northeast. but if you are in retirement years, the last thing you want to do is shoveling snow in january. new jersey has the highest property taxes in america. can we take a look at the chart again? the stories the numbers tell, what was it, in naples, naples is 4.9 percent, port st. lucie, home to my new york mets during spring training, wow. betty: the flipside of that is how quickly the oil towns have

crashed. you mentioned midland, texas. last year, 12% growth projected for 2016. mark: they were the front runners last year. betty: next year, down 4%. incredible, right? that is a huge swing right there. mark: and look at this. you mentioned texas and florida. you're talking about two states that do not have a state income tax. you're talking about people who are saving more of their income in that regard as well. why do you think some of these baseball players, when they leave their teams, they go to teams in texas and florida. when is the best pitchers in for the los angeles dodgers, he plays for the residentst keeps the in another state because his home address is where he does not have to pay. betty: i know where i am living

in 20 years, 30 years. mark: yeah, right. do we have a bureau on hollywood florida? they are thriving in naples, but not in greece. mark: you and i have known each other for quite a while and this is the story that will not go away. it is very tragic, because we get bogged down with the greekcs of it, but the people are suffering. even prime minister alexis tsipras says that he feels that may want tors humiliate people because the austerity measures are too draconian. the good news is that they are going to talk. the bad news, are they going to result in anything tangible that will allow greece to get out of this fiscal mess? it, coming up at

the top of the hour. you in awill see little bit. much more ahead on bloomberg market a. dinosaurworld set sized records on its opening weekend. a monster hit. it kept pixar's new film from finding first-place footing. ♪

betty: welcome back. there is a battle at the box office. dinosaurs may be stomping out pixar's winning streak. threatens tod break more records.

may be the first pixar movie that is not premier at number one. how much is jurassic world expected to make in its second weekend? its shattered expectations and may $200 million for its first three days. it is expected to add $100 million, setting a near record. this weekend, it will register the biggest second weekend on record for a film, overtaking disney's "the avengers." betty: incredible, i thought this franchise had died years ago. clearly not. beat theirnside out second weekend? >> to take nothing away from

this film, inside out has rave reviews. critics are applauding it. -- butis not the kind of it has not had the wall-to-wall kind of publicity jurassic world has had. boxng an amazing office weekend makes people want to go see it. having said that, inside out should open with about 60 million at the box office, nothing to be sniffed at. the numbers are in line with what frozen got. frozen did open at number two. jurassic world is not for the younger kids. betty: i took my kids in there and i thought some of the scenes, close your eyes. what is it say about viewership and what viewers want? >> what is really interesting, universal is behind jurassic world and they are going to be

which is coming out in a few weeks, inside out's biggest issue. they have overtaken disney and threatened disney's dominance at the box office this year. it also shows that in this trend of hollywood reviving old films and digging up old franchises, it does show that if you come up with something different from the previous films, you can still get a good result. people will still go to these films. the question is, will they go see terminator? betty: we will leave it there. back with more. ♪

betty: this 10:00 in san francisco, 1:00 p.m. in new york, and 1:00 a.m. in hong kong. mark: this is "bloomberg market day," and greece buys more time

as prime minister tsipras says they will prevail in the prices -- in the crisis. betty: vladimir putin and how he plans to increase ties with china. mark: the obama administration wants to cut pollution from large trucks. we here with the industry says about a proposal to increase fuel efficiency by 24%. 27. is by 20, -- 2027. ♪ betty: good afternoon, i'm betty liu. mark: i am mark crumpton. let's begin with a look at the markets. stocks drifting lower, global markets watching the situation in greece. we have more on that just a moment. the country and its creditors put debt negotiations into next week.