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.

digesting comments from the san francisco fed president who said the fed is likely to raise interest rates this year as the economy reaches full employment. he also said he is troubled by low inflation. a check of the boards shows the s&p 500 down nearly one third of a percent at 2115. the dow jones industrial is down 59 points at 18,056. the nasdaq composite down .25% at 5119. data compiled by bloomberg show's investors are adding to their gold holdings and it's the longest stretch in seven weeks. gold is trading down fractionally at $1201 and $.30 to the ounce. is falling, trading at $59 and three cents a barrel, down about two point 75%. stocks are down, that means there is buying going on. some safe haven buying in

treasuries, yields are lower. look at the 10 year. 2.26% is where the yield is now. the dollar has been strengthening as well. we have seen some euro weakness giving the hustling going on in greece. the euro trading at 113 against the greenback. the dollar is stronger -- slightly weaker against the yen. the top stories at this hour, ecb has thrown another lifeline to greek banks to increase the level of emergency cash the banks can cap. depositors and greece have withdrawn more than $2 billion. last night in athens, thousands of protesters demanded the government come up with a way to stay in the euro. greekin saint petersburg, prime minister alexis tsipras that the blame for the crisis on the european union. : the european union

should go back to its initial principles of solidarity, justice, and social justice. ensuring strict economic measures will lead us nowhere. greececalled problem of is not just a greece problem, it is a problem of the whole european union. betty: eu leaders will hold an emergenc emergency meeting. they may have to default if there is no new deal. vladimir putin says his country is weathering the economic crisis better than some expected, especially with the challenges from swapping oil prices. insident putin appeared saint petersburg earlier today. end ofnt putin: at the last year, many people predicted deep crisis in russia. this has not happened. we have managed to stabilize the situation.

line across the negative situation fluctuations and we are successful in going through the difficulties because the russian economy has accumulated the inner strength quite well. president putin also says his government has maintained control over inflation and has what he called a sustainable budget, while the economy has shown resilience with unemployment low at 5.8%. the suspect in wednesday night's fatal shooting at a historic black church in charleston, s.c., has been formally charged with nine towns of murder. a bond hearing is scheduled for an hour for now. he is unlikely to appear in court. most initial hearings are conducted over a video link with the county jail. he wanted tosays start a race war and had been planning an attack for six months. one survivors spoke to sylvia johnson, the cousin of one of the victims and she shared that story with abc news.

>> it was horrible. there was just blood all over the place. dead, in order to survive, in order to get him not to shoot her. mark: federal authorities are investigating the killings as a hate crime. this morning, south carolina governor called for roof to face the death penalty. betty: one of the pioneers of the cable television world has died. ralph roberts founded the company that became comcast. he bought a small cable tupelo,on station in mississippi. his son brian is now the chairman and ceo of comcast. ralph roberts died of natural causes at the age of 95 years old. that is the look at your top stories. mark: coming up on the

"bloomberg market day," google is facing an antitrust fine from the european union. we look at how much the company may have to pay. betty: he was government is proposing a 24% increase in fuel economy for large trucks by 2027 in an effort to cut pollution. we look at how that could impact the trucking industry. mark: we hear more from russian president vladimir putin, including how he is planning to increase economic ties with china. it may really be down to the wire for greece this time, with just days left until the bailout program expires, the european central bank through an emergency lifeline to greek banks earlier this morning. betty: depositors pull down nearly 2 billion euros from the country's banks in the last two days alone. we're joined now from washington by jacob kierkegaard, senior fellow at the peterson institute of international economics.

jacob, i know the situation gets more and more dire here for greece. what is your sense of the base case scenario for greece? jacob: it's high noon on monday. will bealexis tsipras presented with an ultimatum that to theree politically troika demands, or your banks don't necessarily open tuesday morning. it's going to be a very close call. i don't think he is going to just agree to it. he is going to agree, and have to go back and consult the greek people, which means we are probably looking at a referendum or new election or something like that. be anmeans there won't orderly continuation of the program at the end of this month. mark: jacob, prime minister tsipras -- the political reality

of this has been settling in. he campaigned on a pledge of rolling back austerity measures that were agreed to before he took office. what are the scenarios looking like for him? jacob: the scenarios politically look very bad. the electoral bluff that he played is about to be called. he won't be able to and austerity and reforms and have other people pay his bills. therefore, he is going to have to face up to that reality, which is i said, i think he is going to have to go back to the greek people and asked without authority. i think you will get it because of the end of the day, 70% of the great population want to stay in the euro. whether or not he can survive is prime minister or perhaps more importantly, as leader of his party is much more open for debate. jacob, other people have been commenting and watching

, he wrote this piece, he said i place the probability of a good outcome at slightly less than 50%. my limited optimism has to do with the differences between what is necessary and what is both necessary and sufficient. lines,read between the we can come up with an agreement, it just might not be enough long-term. jacob: there is no good option left for greece. of theoth continuation troika program is no longer in my opinion an option. we're going to be looking at a very messy scenario with continuing at least in the short uncertainty and instability and continuing economic instability and greece and at the end of the day, is this a government that can credibly commit in the long term

to do what is necessary for greece?i don't think so. i don't think other european leaders believe that either. mark: jacob, you are telling us that euro area leaders don't isl that alexis tsipras someone they can do business with? jacob: that is the sense that i'm getting. if you listen to the comments coming out of their finance ministers yesterday, at the eurogroup meeting, including the managing director of the imf who called for adults in the room -- it's very clear that there is no trust at all left between the creditor countries and this great government. betty: what do you make of the infighting you are seeing within greek officials as well? the finance minister lashing out at the central bank governor. jacob: this is, in my opinion, entirely preventable. the greek central bank governor

made the correct and very dire warning, which of course, viewed of them waslenses aimed at undercutting the political case they have made all along, which is that a greek default will be worse than the eurozone -- worse for greece. i don't think that would be true. be extremeault would fairly bad news for greece, but in the short term, not make much difference for the eurozone at all. mark: in our final 30 seconds, jacob, have you changed your position? will there be some kind of deal by june 30? jacob: i think there will be some sort of a deal agreed on monday, but it will not be a smooth continuation of the current program. through june 30, we are going to be looking at acute political and economic instability and greece. mark: jacob kierkegaard with the peterson institute of international economics, joining us from washington.

always a pleasure, thank you for your time. betty: still ahead on the "bloomberg market day," the eu wants to make an example of google and may find the company bucks for violating antitrust law. mark: how much google may have to pay, when "bloomberg market day," continues in just a moment. ♪

betty: welcome back to the "bloomberg market day." i'm betty liu, here with our crumpton. mark: good to see you. to bloomberg's julie hyman with a look at the biggest movers on this friday. julie: hi guys. let's talk about this. shares are heading lower today

after a little bit of detective work on the part of investors and also the analysts at isi. simon property group made a mayle of offers to buy stretch. overnight, block of shares was traded, 5.7 million shares, coincidentally that is the same amount that simon property is still owns, about 3.6%. according to analysts, there has been speculation that simon was going to come back with another offer. it is selling a stake seems to put that to bed. take a look at the bloomberg terminal. hopefully i have my bugs worked out. this is a chart compiled by bloomberg intelligence. simon first announcing its bid for the company in october, november. we saw shares climb. then offering $91 a share to buy the company, then 9550.

-- $95.50. now they are down substantially from that level. there could be potentially some regret their that the bid was not taken. it's been an interesting story as we watch that stock. , thatershey's chocolate company cut the profit forecast, said it was also cutting 300 jobs. that's because of slowing growth in china. interesting, you would think chocolate would be bulletproof. i know it is a staple for me. but apparently, partly because of the slowing growth in china, they are pulling back, and increasing competition there is hurting hershey's sales. the company says sales will be up as much as 5% this year, the number had been 7%. on the plus side, we're looking at twitter. a couple of areas of speculation here. the idea keeps popping up that may be a company will come in and make a bid for twitter, maybe google. that has been debunked or discarded by a lot of analysts.

the share is up 4% today. twitter is talking about potentially starting a thing called project lightning according to a bloomberg report. that would be more of a concerted effort to cater its products to live events. it already sort of does -- you see a gathering on twitter around live events. this would be more organized and curated as part of this project lightning. i don't know about you guys, but when there is a sporting event or the oscars or a tragedy or something in the world that people are watching, they tend to comment on twitter. with interesting, because the shootings in charleston, a lot of the networks came in for a lot of criticism because twitter was all over this and the networks were kind of second, third to respond to that. betty: julie, thank you so much. let's get a look at the top stories crossing our terminal at this hour. while we wait for the supreme court ruling on obamacare, the congressional budget office has come out with a new report on

it. the cbo says repealing obamacare would increase budget deficits by $137 billion over 10 years. the report says repeal would also raise economic output, mostly because many people would work more to make up for the lack of health care subsidies. a cruise ship crashed into a wall in upstate new york. 22 people were injured, officials were forced to drain the lock. it hit a wall in the saint lawrence seaway to the canadian border. adventure owner limited. an airbus staged a come-from-behind victory over boeing at the paris air show. they cite a billion dollar deal on the final day to edge out the american rival. airbus ended up with $57 billion worth of orders compared with $55 billion of boeing. single i'll planes remain the most sought after aircraft tight -- type.

google faces a huge fine from the european union for antitrust violations. the eu says it intends to find google at a high level to deter future conduct. mark: they accuse google for using its search dominance to favorites owns shopping service. cory johnson joins us from san francisco. how much can we be looking at? could be hundreds of millions of dollars. we don't know. what bloomberg has learned is that in the complaint which we expect to see sometime soon, the tryould be seeking fines to and scare anyone else from practicing this kind of behavior. so who knows what that could be? numberd be an enormous because google has made vast fortunes in europe with these anti-competitive practices, or so says the eu. what is interesting about this is the standard in europe are different. the sec looked at similar practices in the u.s. with a standard much higher, and the sec actually found reason to

bring charges but senior management of the ftc decided not to do so. in europe, let's compare the standards. 40% is the level, 40% market share dominance in europe while he have to be as high as 80% or 90% in the u.s.. in europe, google has well over 90% market share. indeed, the market you're the google has in the eu is even higher than in the u.s.. 92.4%. for is a serious issue google, because they have used that dominance in search to send people to sites where they get a cut of sales. that's what is greatly disconcerting to the eu. betty: it is indeed. the numbers are still at large right now, but what kind of damage no matter what is is going to have on google, that only the european business but overall business? interesting toe see what they do to fight this. google has also talked about

buy" button great if you were to search for new shoes , just for example. "buy" button, that would closely linked research results and purchase activity. but purchase activity is the heart of this case, which is saying that google wasn't doing the best thing for its consumers, it was doing the best thing for google by steering search results towards the places where they were going to get revenue. tying them even closer with uy" button ise a "b not something separate from these charges. but maybe part of the same thing, suggesting google is going to fight against this and really wants to pursue business practices that will drive revenue to google, customer or you be dammed. cory johnson and san francisco.

is obama administration proposing a 24% increase in fuel economy in trucks by 2027. mark: we look how this will impact the nations 7 million plus trucks and market makers -- shippers when we continue. ♪

mark: welcome back to the "bloomberg market day." i'm mark crumpton. i think we have the fridays. the obama administration fueling an increase on efficiency requirements. it's part of the president's pledge to cut overall emissions by 26% in a decade. youy: it's the second time later set efficiency goals for the 7 million traffic trailers and heavy-duty trucks that hall most of the nation's goods. from washington to discuss this. how exactly are these rules going to impact these truckers?

how damaging would be for them? jeff: when it's time to buy a new truck, they want to spend more money, and so over the span of this decade they are talking about for this set of rules, they are estimating that it will cost -- a new truck, which $100,000, more than will be $10,000 to $12,000 more expensive. mark: give us an overall look at the economy. what does this mean for travel in interstate commerce? jeff: the truckers will have to pay more money up front for the trucks. the regulators do believe that because diesel fuel is such a basic components of the trucking business that these rules will actually pay off economically for the industry. they estimate the payback will be less than two years.

there are a lot of consumer groups and environmental groups who have been really following this and pushing for this rule. that it coulds work out for consumers because if the trucking industry is saving money, those costs might be passed along to the public. betty: jeff, thank you. on that note, i will be signing off on this friday. mark: we will miss you. she sneezed during a question about 20 minutes ago. betty: you will not let that go. mark: coming up on the "bloomberg market day," more on russian president vladimir putin, increasing trade with china. that story is next. ♪

mark: welcome back to "bloomberg market day," i'm mark crumpton. let's go straight to the top headlines.

the two escaped murderers from a new york prison are now among america's most wanted. as police continue their search, addeds. marshals service the escapees to their most wanted list. they have been missing since june 6. a prison employee has been accused of helping them. the state department says global terror attacks are up 35%. two groups, the islamic state in boko rom are to blame for much of the increase last year. the number of deaths almost doubled and kidnappings nearly tripled. says thereepartment was increase in so-called lone wolf terror attacks in the west. there are less than two weeks before diplomats reach a soap and post deadline for negotiating a deal on iran's nuclear program. president obama's national security adviser says the united states won't accept just any agreement. bloomberg'spoke to "with all due respect." >> the only feel we are going to get is a good deal. if we don't get a good deal,

there is not going to be a deal. if we are able to get it implemented and finalized that meets the same parameters that were agreed in april, it will be a good deal. it will cut off all iran's potential pathways to a bomb. mark: congress would have 30 days to review any deal. iran has said it will accept limits in exchange for the west lifting sanctions. the u.s. senate set up a showdown with the white house over defense spending. lawmakers approved a pentagon spending bill that would get around mandated spending cuts and would also threaten the president's plan to close the military prison at guantanamo bay, cuba. is marking the third anniversary of his stay inside ecuador's london embassy. he entered the building june 19, 2012 to avoid extra edition just wheaton for questioning about the alleged sexual assault. sweden.dition to police stand outside ready to arrest him if he leaves.

those of the top stories of this hour. coming up in the next hour of the "bloomberg market day," what william cowan says he learned from imf managing director christine lagarde. she used to be one of his interns. electronic dance music is hot, and no one is hotter then this dutch dj. we hear what he says about the growth of the industry. and startup drugmakers are finding record amounts of funding as venture capitalists prowl for early winners in what may become an $80 billion industry. from russianre president vladimir putin, who spoke today at the annual figures berg international economic force. fromswered questions bloomberg's charlie rose on a variety of topics, including the future of russia's relations with china. >> the nature and level of trust in our nations have reached an unprecedented scale and importance in the history.

we have been negotiating on the border issue. we have found acceptable and this issue is no longer there. we have settled it, for 40 years. not always do we manage to address those issues with other countries, we develop economic contacts. cooperating with the framework of international organizations within the framework of the united nations. we are developing and forwarding new integration processes which are quite efficient and attractive for other countries, china is our largest trade and economic order and the relationship is very efficient. >> some say it is a natural relationship because china has cash and russia has natural resources. there is a natural affinity right there.

vladimir putin: that is true in america, i'm sure you know about that. you're just pretending that you are unfamiliar with it. the american analytical scientists and political experts this turning towards china. china's it a growing economy, one of the highest in the world. it's not only russia, the whole world is turning towards asia. europe is interested in it as well. we are destined to do that because we are neighbors. it is a natural affinity. a natural movement and development. besides, there are many values we share. it's equal to addressing international issues. >> is a more natural affinity

than europe and united states? a china more in the future place that russia feels more comfortable than with europe and the united states? and could that lead to some anti-western alliance? anti-western, anti-american alliance. are not putin: china forging relationships against someone. we are not building alliances against anyone. we are building alliances for implementing and meeting our own national interests. let me draw your attention to the facts. nature --pounding the the nato opportunity.

it was created as a counterweight to the soviet union and the blocks. we don't create any military alliances the china. adopt at tend to block-based approach, but we are trying to adopt a global approach, we are trying to distribute the responsibilities, weird trying to find acceptable compromises. we were never based on the position of force. we are trying to find new solutions within the framework of negotiations. russian president vladimir putin speaking today at the st. petersburg international economic forum, moderated by charlie rose. still ahead on the "bloomberg market day," we talked to the former u.s. defense secretary

about his former intern turned managing director of the international monetary fund. ♪

mark: welcome back to the "bloomberg market day." i am mark crumpton in new york. bloomberg julie hyman is standing by. good afternoon. julie: we've been watching stocks fall. i wanted to focus on movers they're doing little better in today's session. one of the best performers in the s&p 500, for example. you are seeing here the three major airline averages lower, but airlines are performing very well today. american airlines having its best day in three months. delta, the third straight day higher.

jeff lewis, best level in three weeks. j.p. morgan analysts say that yesterday delta instituted a fare increase of two dollars. not a huge one. one way on all the messy flights. he said last week the airline had already raised flights. he said he was surprised to see delta lead an additional fare increase so soon after the prior week's successful raise. there has been concern recently about a decrease in fares as some of these airlines are adding capacity, that would push pressure on fares and lead to a pricing war. endless commentariat causing some relief rally for some of these airlines. american airlines up 4%, the other two up 2.5 percent and 3% respectfully. another group doing quite well today, the homebuilders. kb home is having its best single day since september of 2012. d.r. horton up 2.5%. this after kb came out with

earnings that beat estimates. they said they saw a jump in orders for houses. this has been the underperformer, kb home within the building sector. another stock that is up again , the company was sharing cells -- selling shares of another 7% today despite some questions about the sustainability of demand. this is a tech company that i shall he has profit and yes it has big increases in revenue, but there are questions about how long it it is going to remain that popular in the marketplace. profit fortually has a tech company, who knew? julie: not super common. mark: julie, thank you. from linda -- london on how indexes overseas fair this week. >> it's been a turbulent week

with all the concerns about greece. this is europe's equity benchmark, down 8/10 of a percent on the week. if you look at today, you can see we're up almost 4/10 of a percent. the markets are ending the week on a high. we can see a similar picture if we look across to this map, and we look at the benchmarks, the taxes down .5%. otherwise you are seeing green across the board. i want to show you the stocks we're drilling down on today, in particular you can see those gains there. on the athens stock exchange, portugal and italy as well up by more than 1%. these are three of the best-performing benchmarks in the world today. two things that happened to drive this risk appetite. emergencyre's been meetings called on monday between eurozone finance ministers and leaders as well to try and reach a deal on greece. alexis tsipras says he is confident a deal can be reached.

raised the has maximum amount of emergency funding that greek banks can get. this is a key change and it should take some threw two monday as well. if you look at the stoxx we're watching, collect telecom company is still up, but alpha bank, the national bank of greece is down even though they were gaining earlier. ecb saidecause the it's going to review the emergency funding on monday. what this does is it sends a signal to greece that a situation is serious. back to you. mark: chinese stocks had their worst week in seven years, and there is fear this might well be the start of a painful correction that analysts have an waiting for. david ingles filed this report. david: it has been an eventful week in china. all was well and good last week, and in five days, we entered a correction.

only their what we actually see volatility. it's been pushing to extreme levels. you have a long-term average valuations at about 10 times expected earnings. 19,re now pushing towards within a span of 10 months. there is concern over what regulators will do next to manage all this risk of outstanding market debt. tighteningg -- restrictions. it may be the start of a bigger winding down. i hope not, but we will see. mark: let's take a look at the top stories crossing the terminal. oakland, california is in the -- spotlight.ight the golden state warriors parade to the city with their nba championship trophy. the warriors returned to the bay area after defeating the cleveland cavaliers in six games on tuesday. it was the team's first basketball championship in 40 years. the victory parade started in downtown oakland and will be followed by a rally at the end of the route. going to the movies this

weekend? "dressing world," had the biggest movie opening of all time. they may be going for seconds. -- "jurassic world." threatened tourns outshine the debut of "inside first pixar movie and more than two years. there is a pile of gold in new york, and texas wants it back. greg abbott signed a law to build a depository for the states 5600 bars of gold. the gold is stored in a wrench involved in manhattan. isn't sure where to put a depository, so would be the first state to have one. that's a look at the top stories in this hour. former u.s. defense secretary william cohen joined our surveillance team, and talked

about his most famous in turn, the current head of the international monetary fund, christine lagarde. william: i saw young, tall, elegant woman who was very gifted with language. she taught me a lot about france. i hope i was able to teach her a little bit about politics in washington. she faces a unique responsibility now. imf, americans distrust the imf. we write the check for them is the stereotype. how we trust or institution? william: she is capable, tough-minded but fair. put enormous confidence in the imf with her at the leadership. fu joins me now. this is fascinating. scarlet: i love stories like this. it makes these people real.

we see them talking, giving economic forecasts, in christine lagarde's case telling everyone that needs to be adults in the room. you see a human side to her. once upon a time she interned for william cowan. it's fascinating. mark: i think her time in washington gave her the strength to deal with all these competing interests that she has to deal with overseas, particularly now that the imf and christine lagarde are in mashed in this business with greece. scarlet: it's quite a business. areorget as much as there billions of dollars that need to be paid back to the imf, there is also money that needs to be paid back to the ecb in july. whether they can get anything done by june 30 and actually return the money, even though it has to be ratified and various european governments, there's another hurdle after that. doesn't end. you go from in turn, then

years later -- she was a synchronizes swimmer as well. scarlet: she is a very conflict woman. --didn't matter she interned a very accomplished woman. it didn't matter who she interned at four she would have gone on to something great. i came up with a couple of names who interned in the past. they started from the bottom and now they are here. you have conan o'brien, who for commerce and barney frank it, but he didn't enter politics because he didn't want to wait -- didn't want to work his way up. jodie foster and steve jobs. steve jobs interned at hp. he got the parts he wanted for a project and landed a summer internship. and he met steve wozniak there. mark: and the rest is history. what about you? i had to do the intern thing, i

was interning. station, at a radio jazz station. my interned there and was there for about two months. one morning, about 4:00 in the morning i got a call from the news director -- i am sick and can't go in. you have to go in and do this. i had never done it. he says you are ready. i did it and i have been doing it ever since. scarlet: i interned at the white house lawn before monica lewinsky, maybe a semester or two before monica lewinsky. no one ever asked me to do anything. up?: what is coming scarlet: we talked to an investor for drone startups. it's the next big thing for funds that need yields. mark: scarlet fu, thank you. still ahead on the "bloomberg market day," grandeur glow sticks. we take it with one of the worlds top electronic dance djs. you don't want to miss this. olivia sterns will be here, she has been waiting for this. scarlet: when was the last time

you grabbed a glow stick? mark: i have never done that. thank you for asking. ♪

scarlet: --mark: welcome back. the electronic dance music industry is worth over $6 billion a year and festival ticket sales are on fire. than thiso one hotter dutch dj, known as the godfather of trance. down withrns and sat him recently and asked him what it is like to perform at electric daisy carnival, the music genre's biggest three-day rave that kicks off this weekend in vegas. here's what he had to say.

>> is the super bowl, something you look forward to most. i been working on that one performance for months and months already. it pulls something like 300,000 people. remember the beatles when they played shea stadium, that was 55,000 people. this is 300,000 people over three days in las vegas. i don't know what is happening, but it's an entire city that goes to see that events. it is amazing. believe in music for magic, but the price tags for these are $400, $500. what do you say that you are making -- what do you say to people who say you were making music for the 1%? is demanding more. the shows have to be more spectacular. the led walls have to be more spectacular. the fireworks have to be impressive. the djs have to bring their own crew, everyone is stepping up their game. unfortunately, that cost money.

>> what's the most money you have ever made on one big? >> is not that crazy. i think $100,000? the amount you see in several different press releases are goal -- they are all very gross amounts. dj.le expect more from a it used to be good show up with your record case and you got paid money. that's it. the djs have to step up their game. the amount that you hear sometimes in the press are gross amounts. on top of that, i just pay taxes like everybody else. i'm from the netherlands, but i pay taxes in the u.s.. to be honest, it is a lot of money. it's not as exciting as sometimes you will see in the press. i bring my own crew, and sometimes we have to get private jets not because we want to show off, but because otherwise it's not possible to make the next gig. i only get a private jets if it's necessary. otherwise i fly commercial.

>> you are going to go first class. >> yes. i have just one myself a little. i do this because i love it. i'm not going to lie, the money is great. at the end of the day, you do it because you love what you do. mark: olivia sterns is been talking to me about this since yesterday. olivia: you love trance music. kids worship him. going to visit las vegas, it will be 100,000 kids out there. they all want to be like him, because he is making millions of dollars a year. youked what kind of advice would give those kids, and he says i have a law degree. this is a guy who has a law degree in business law he is always one to fall back on. given that, i wanted to ask him about the blurred lines verdict. >> i think the results is really bad for business. if copying a stylus infringement of copyright, then we have a major problem. i'm constantly copying other people styles.

the idea of copyright law is that you cannot copy ability. you cannot steal a melody from somebody else. but a melody, in order to have copyright, it needs to have a certain character. i think in the blurred lines case, i want to defend for rail. i don't think he copied the melody. he copied the style of marvin gaye. willlly hope that they refer the case and that pharrell will win. if this case extends, it's really bad for business. mark: thanks so much for that. have fun this weekend. olivia: i look forward to it. i will send you an instagram video. mark: i will be in jersey. next half hour, venture capitalist funding for drone related companies. ♪

mark: it's 11:00 in san francisco, 2:00 p.m. in new york, and 2:00 a.m. in hong kong. the "bloomberg market day."

greece may have to default on debt payments of there's no new deal. drone companies are taking off. it may become an $80 billion industry. mark: bob parsons made a name for himself as founder of go daddy. but his true passion is golf. he thinks you should pay up for his latest pitch. ♪ mark: good afternoon from bloomberg world headquarters in new york. this is "bloomberg market day," i am mark crumpton here with scarlet fu. scarlet: you don't have very big moves in the s&p, dow, nasdaq. we do know there is increased volume at the open and close when futures and opt e