wages stagnated, more people left the workforce. we go inside the numbers. pimm: greece prepares for a crucial vote on sunday and the finance minister tells us he will quit if the country votes yes. greeks say they are so confused i do not know what they are voting for. >> puerto rico facing a debt crisis, what the u.s. government can do to help the island struggling economy. ♪ pimm: good afternoon, i am pimm fox. olivia: let's begin with where the markets are trading. equity markets not doing a whole lot unusual for a job stay. we moved job stay to, maybe traders are already headed for the beach.

interesting, giving everything going on in greece, a big selloff overnight in asia. you would think that would like on the markets that not a big move, equity markets down 1/10 of 1%. on the commodities market, move over to oil and gold, oil up a little bit, trading about 9/10 of 1%. crude oil above $57 a barrel. $1162lower, trading at per ounce. pimm: the bond of markets, treasuries, more buying in the 30, 3.18%. euro, dollar versus the the euro weakening against the dollar. the yen gaining a little bit. the pound sterling gaining a little bit against the dollar. let's get right to top stories.

bold moves and greece. the finance minister says he will step down in greek voters say yes to the austerity plan in sunday's referendum. word?e be good for his erik schatzker is in athens. government by plebiscite. sunday, but as you said it moments ago, greeks are trying to figure out what they are voting for, eurozone membership, up or down, are they voting for a bailout basel -- proposal? i am eager to see how this plays out in the greek media tomorrow as we march toward sunday. the imf has come out with a draft report saying that greece in the40 billion more euro area financing over the next three years, over and above what has been a load to it -- loaned to it.

even if they meet the demands of the creditor, they will have to agree to double the maturities on the existing loans. if you just heard the german finance minister choking, you would be right, the notion for many europeans that they would have to throw $40 billion, $36 billion more euros at the greek problem over the next three years, has to sound almost unbelievable. pimm: i am wondering if you can tell us about what exactly is the wording of this referendum. they do not know what they are voting on, are they voting to get rid of a government or voting on a bailout plan? or both? the: they are voting on package that was put on the table this past weekend. listen to the finance minister, this is how he puts it into

perspective. >> if we sign the agreement, in six months, 12 months, we will be closer to insolvency. i am not going to push this question two people. if you are asking me, yes, it is a senseless question. the referendum is about how to achieve that, you achieve it by accepting another extension, i do not think so. erik: he says that voting yes means voting for more pain. and that is why he and his government are urging the greek people to vote no. the momentum is shifting toward yes. there is a lot of time between now and sunday. pimm: thank you erik, you will be monitoring the situation and hosting a special report beginning at 6:00 p.m. on bloomberg television. ceoia an apology: from the

of whole foods -- executives at whole foods. they say team members had accidentally mispriced store packs and sandwiches, the admission comes after new york city government investigation revealed what he calls systemic overcharging. >> we want to talk to you about pricing issues you may have heard about in our new york city stores. we made mistakes, we own that and tell you what we are doing about it. olivia: whole foods will increase worker training and offer a 100% guarantee that prices are right. if there is a mistake in the item, it is free. pimm: a record multibillion dollar settlement in a case stemming from the 2010 gulf of mexico oil spill. cp will pay -- bp will pay a most $19 million. -- $19 billion.

the chief executive says the company can manage the payment schedule and it will not force a: to cut its dividend.olivi univision filed for an ipo and it will list shares under the symbol uvn. it ain't a long-term deal recently to get comcast through at least 2030. it says revenues almost rose 11% in 2014, to nearly $3 billion, no details yet on the size of the ipo. -- more come, a much insight on today's jobs report, with the carlyle group cofounder, an excuse of interview betty liu. pimm: a possible lifeline for puerto rico, richard blumenthal joins us to talk about his bill that will allow the commonwealth to apply for bankruptcy protection.

olivia: tesla shares up 2% on the news, can anything slow elon musk down? back to the greek standoff. referendum,the let's take a listen to latest comments. >> tsipras has only said one truth, that greece will become unrecognizable in six months. he is succeeding and that. we will not him let us. this will kill the economy and the hopes of greek people. >> europe, since the great financial collapse, has been making up rules. -- banks.you pimm: let's bring in another perspective on greece and market volatility. the principal and managing

director at douglas the lane and associates where he manages $4 billion. we will get to the airlines in a bit. what you make of the developments in greece? >> let's get to an end. say yes or no, and get the uncertainty out. it is moving markets, volatility , with interest rates, currencies, and people are more focused on that than the underlying funnels and the global economy. olivia: are you sitting on the sidelines? >> we are still looking at companies we want to buy. because people are .ore concerned about the risk what happens to spain, portugal, if you do not get this and that needs to be fixed and we can want to the next issue. morea: should we be paying

attention to asia, the big selloff in chinese equities, we have seen this week? >> chinese markets were up 20%, they are back down. most of us who look at china and say we would rather invest in china through other means, as opposed to going directly -- olivia: maybe there is a change in sentiment in asia and that has produced more all ability. -- volatility. >> the china markets are a question of people trading in there, like 1999, so unless they really slow down, with oil prices coming down and commodity prices coming down, that is helping out china and that should stabilize them at least for the short-term. pimm: what do you think about the jobs report. >> i think the fed will rethink one rate and move up a little bit. a court-appointed this year and say we will assess and move forward. they will have to do something,

because if they said back, they will get huge amounts of liquidity act in the market and that is not what they want. the jobs report, the development in greece, and consumer confidence numbers, how do you think janet yellen feels going into the fourth of july? better or worse than a september rate hike? >> neutral, the numbers today were ok. toy are on target for us raise rates at least once. unless something really bad happens i do not think you will see that change. pimm: tell me about airline stocks. >> for us that was interesting. the last quarter earnings they were down, capacity was up, pricing down. all of a sudden you get this from the justice department saying you are colluding. if they are, why is capacity, weiss southwest increasing 7% -- why is southwest increasing 7%?

i think there are some people looking at it. olivia: what are we missing? >> we say, they are making too much money and why are the passengers benefiting? jobs-- only people lost over the years because they worked for an airline, a pilot, they had strikes, you are not seeing that anymore. they are finally making money. people are concerned -- pimm: if you do not own an airline stock, do you buy them? >> we own american and southwest, united, delta. you have this uncertainty, we do not know how long this will be, what they will find out. pimm: buy it when it is less extensive? >> they are down 20% over the year, maybe you nibble and maybe something will come up. i still think they are cheap, they are making money and they have dividends. they are doing the right things.

olivia: they are just incredibly unpleasant to fly. >> that is how you know they are making money. rico still ahead -- puerto makes a bond payment and avoids default, that the commonwealth still shoulders a $72 billion debt burden. should the u.s. congress get involved -- the latest coming up. ♪

pimm: welcome back. i am pimm fox here with olivia: olivia sterns. let's take a look at some stocks. ramy: highs and lows.

western union is seeing his worst since october 2013, shares down by 4.8%. after it was downgraded, the company was downgraded from buy to hold after the paypal assume deal announced earlier today. be --ore saying it will the new company will be a larger competitor in the online money transfer business. this is after wells fargo said there would be minimal impact. tesla is getting charged up, shares right now trading 2.4% higher, this at its highest level since september of 2014. the of a says it it is underperformed rating, but tesla beat its q2 sales target rate by 11,507 model as vehicles. catching a little of a break, tuesday it was down 12%, wednesday down 18%.

today, up just a tad, 1.2%. deutsche bank downgraded it from a hold to a cell. price target, $1.30. trading at a little over 1.7 right now. the reason, cheaper goal, more debt and moody's downgraded them earlier. peabody missing the most shorts on its stock compared to the number of shares outstanding. interest is at 29% of shares outstanding. you can see this rise from july shares hitting at the 80.5 million caremark. -- share mark. robust peabody has a aggressive, bearish market. you know who else does -- puerto rico. pimm: i knew you were going to go there.

greece is not the only place with a debt crisis. puerto rico meeting bond payments this week. olivia: the governor says is that is unpayable. should congress be taking action? we will ask senator richard blumenthal in the next hour. we will put the question to laura keller. it was a busy week for puerto rico. they scrape by, what is ahead? laura: not been an easy week for investors. we are looking at this new time where investors are thinking about how to adapt to a new puerto rico strategy. you will see them work on this plan to restructure debt. they will have it out by august 30. -- the negotiations will go on until september 1. ism: puerto rican debt

triple tax-free? which was why it was popular for retail investors. what about the insurance that backstops these debt payments? laura: bond insurers are having difficulty with this restructuring. they may suffer the most. iam: they guarantee in the -- mdia. olivia: these investors, the short guys, they seem to be gearing up for a legal fight. what is next? laura: some creditor groups have been forming, one with the casino bonds, they have hired a law firm to figure out what to do. that will be for defensive strategy. olivia: who are big and too short puerto rico -- big names to short puerto rico> laura: you have distressed firms like appaloosa, rachlin,

oppenheimer mutual fund, and then bigger guys, anybody you can think of, brigade. pimm: if you happen to hold puerto rican debt, what do the experts tell you to do? are they holding on to it? it will be worth something maybe sometime or as part of a restructuring. laura: mutual funds will be shy to go in. the people who are interested in buying are people who look at recoveries and figure out a distress play. they can say, based on this probability i think i will get back this kind of recovery. olivia: what is the role for the federal government? laura: they could guarantee the debt, i think the biggest question we are seeing is congress coming in and saying, let's look at this and see if we

want to do a chapter nine. and investors want to know if he should do a super chapter nine. it would allow puerto rico to do more than states are allowed to do in a gutsy court -- bankruptcy court. olivia: we will have you back on in the next couple of days, the story is not going away. pimm: we will be staying on order to go ahead. democratic senator richard blumenthal is pushing for a bankruptcy option for the commonwealth. backs the justice department probe into possible it airline industry collusion. olivia: you do not want to miss that interview, state right here. ♪

♪ .livia: good afternoon i am olivia sterns here with pimm fox. pimm: top stories crossing the terminal. foras a mixed jobs report june, the government says employers added 223,000 jobs last month and the jobless rate fell to a seven-year low of 5.3%. the share of working age people in the labor force fell to the lowest in more than 37 years. wages were flat. reaction from the white house from betsey stevenson of the

president council of economic advisers. >> anytime you see flat wage growth you want to take a look around and see what more we can be doing to grow wages. that is something the president has been thinking about every day for a long time, what are the steps we can take to grow wages. pimm: there will be two more jobs reports before the federal reserve policymakers hold their september meeting and there is is whenion that that the federal reserve will raise interest rates. orders to u.s. factories fell in may by the largest amount in three months. the climbed 1% from april when orders are treated 7/10 of a percent. much of mays weakness was due to a big 35.3% fall in commercial aircraft. outside the volatile transportation category, orders were up only 1/10 of a percent. manufacturing is still struggling the numbers suggest with lower energy prices and a much stronger u.s. dollar.

more than six years ago, mark tried toark zuckerberg like twitter and he might try again. they say he is considering whether to buy twitter, they cite sources, dick costolo just a down following months of criticism run investors. record $18.7ut a billion to resolve claims by viewand five u.s. states, tied to the 2010 oil spill in the gulf of mexico. the record $5.5 billion will cover federal penalties under the clean water act and five states along the gulf of mexico, including louisiana, will receive payouts for harm done and the worst offshore spill in u.s. history. the payments will be spaced out over as long as 18 years. the cows are working overtime, milk is flowing like water in the united states appeared so

much being produced at some of it is being dumped into dirk pitts because gary farmers cannot find farmers olivia:. olivia:domestic milk output ontrack for a record and while prices are down 39%, farmers are still making money because of cheaper feed. there is so much milk. it is not like oil, you cannot just put it in a tank and weight, it will go sour. they pour the extra milk in a puddle. pimm: i thought you say -- you are going to say they would ask the cows to produce less milk. olivia: much more to come, including our interview with richard blumenthal. ♪

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olivia: welcome back. take a look at the stories making headlines. a massive police response at the

washington navy yard this morning. apparently, for nothing. gunfire was reported the former shipyard earlier this morning, but authorities say they found no evidence of the shooting. no one has been arrested and no weapons have been found. today's large police response is keeping with protocol established after a gunman killed 12 workers at the same site in 2013. one of the highest-ranking women in silicon valley is stepping down. intel president renée james will seek a job as ceo elsewhere. for 28as been at intel years and will stay on until january to help the transition. barnes & noble is planning to split into two companies next year and bringing aboard sears canada ceo to lead a three tilde's. the company expects the split to occur by the end of this august. he will begin his new role as ceo in september overseeing nearly 650 stores and the e-book business.

paypal is getting into the international money transfer market, agreeing to pay $890 million for a company called xoom, which lets customers and as much as $3000 in missing the is innocent of transaction difference and family. -- in a single transaction to friends and family. coming up at the next half-hour, we will get more insight on today's jobs report from carlyle group cofounder, bloomberg exclusive. in global markets, china falls.i comba "the new york times" opens a can of worms by suggesting you can put fresh peas in guacamole. it is touched off a controversy that reached all the way to the white house. as we of been reporting, the june jobs report came out on the cool side. u.s. adding 223,000 jobs. all growth is rebounding

somewhat, falling well short of the midyear surge we saw last year. our very own betty liu is at the then ideas festival getting information. she sat down with david rubenstein and asked him what he thought about the data. take a listen. >> with the lowest unemployed rate it many years, very encouraging. we would like to have more jobs created, but 5.3% is good. why is it so low? we have a very low participation rate. i think the rate is about 62 point 6%, the lowest since 1977 when i was in government. i think that reflects that a lot of older people have retired. a lot of younger people can get jobs right out of college, so they're going back and living with their parents are going to graduate school. many times parents are anxious to get their kids out of the house, so they're getting internships for them.

sometimes they are paying people to take their children for internships because the kids are at home and sometimes the parents don't want them. --ty: we haven't gotten there is that problem, but it seems like even the housing is recovering and we see the stock market, shaky, the shakiest they have been in quite some time. we haven't seen that lift off in the economy. business seems to be doing well. you're doing great business, but we have not seen that lift off. why? it may not be the case you're going to grow it for percent to 5% after recession any longer. we're used to having recessions. we typically have them for about nine months every seven years. they typically have 4% to 5% growth afterwards. now are used to 2% to 3% growth. there's many reasons why. i don't think we will see a lift off as high as we would like. i think 2% to 3% growth is what

we will get. we should become trouble with that. i think the biggest issue is whether greece is going up a spillover effect on the overall account of me -- a economy and if we will ultimately go into intercession again. we have them every seven years or so after world war ii. juneast recession ended 2009. technically. betty: are we due for one? averageu would say the is 2007, in june 2016 you might have one or start one. you can go longer. at some point, we will have a slowdown again. when it happens, will probably not be as great as the great recession, but we should expect some slowdown. but eco-warren buffett says, have a buffer protection. do we have a moat big enough to protect us from events like greece? asthe united states is not involved in greece has the people in europe are. i don't think we have the kind of things going on in the economy we did with a great recession occurred.

i don't think we have a subprime crisis brewing. on the other hand, when recessions come, you don't usually know what is going to cause them. i don't see the spillover in that significant. president obama and jack lew are working hard to make sure there is some agreement that comes together. i suspect there will be in agreement probably in the next 10 days or so just because it is inevitable. betty: between the troika and the greeks. >> yes, because whatever the referendum outcome is, something will have to get done. in the end, the greek government will recognize they can't really run an economy and run the country if in fact they're not part of the euro of the eurozone. betty: what if the outcome is the greeks vote no and eventually, there's no deal between the troika in the greek government and greece does leave the euro? is that armageddon? >> i wouldn't say armageddon. greece is 2% of the gdp of that you -- the eu. it will have some spillover

effect. i think it is being seen it is better to resolve this with greece. i do think they don't want to have a spillover effect on other economies, which are also somewhat weak. i think a deal will get worked out, but it is not going to be pretty. it will look ugly in the process. i do think something will get done after the referendum. olivia: dallas betty liu talking .o david rubenstein but if you minutes, we will have a roundup from some of her best roundups from the idea festival. pledgehead, a three-week in china that has wiped out $2.4 trillion in market value. more on the wild swings. ♪

olivia: welcome back. i am olivia sterns. look at the european market. i want to go out to mark barton in london. yet to be honest and say the stocks were trading higher before today's u.s. jobs report, but let's be frank, investors are in wait and see mode at of sunday's great graph or random. greece and its credits are these vast, immovable objects, these intractable objects just sitting opposite each other, waiting for the big day on sunday. finance minister varoufakis is telling us he things greece will vote no. he will resign if they vote yes. he said greece desperately wants to stay in the euro. by the smallness today in your pin stock markets, relative to early this week. a measure of expected stock volatility. the high hits on tuesday. the three big movers in europe

today. look at that, electrolux home by 10%. falling asleept with really dollar takeover of ge's points unit into that. -- appliance unit into that. putting a record honest $19 million fine to settle traits by the u.s. and five states along the gulf of mexico, bp, related to the oil spill in 2010. and the biggest rise since january 2014, the biggest power producer. the governing coalition agree to that have a coal levy been discussed for months. investors are sitting on her hands. olivia: thank you. overnight, another wild ride and choppy session for chinese stocks. the shanghai composite dropping to a three month low. david ingles has that story. david: the shanghai composite fell further 3.5% wednesday, now taking the loss from mid-june, 26% now, below the logical

level. the short of it, we're caught in a vicious cycle. people are actually shorted futures to hedge which feeds into more panic selling when people see that happening. short-term, these wild swings will continue despite efforts from regulators to smooth in this unwinding of margin debt going on. olivia: now for look at what is happening on the u.s. markets, i want to get over to ramy. >> major markets earlier were in the green, but as you can see now, we have turned solidly into the red. the s&p 500 is down, the nasdaq is the biggest loser right now. actually, the dow had hit session high earlier in the day, but now investors may the taking a little bit of profit were also weighing on the july 4 holiday. let's dive into the terminal.

out of the 10 sectors on the s&p, you can see several are in the red. materials are down the most. utilities are up the most. electricityo that and gas are the biggest gainers right there. a little bit farther into that, looking at utilities year to date, it turns out that little gain is still not enough. the sector is the worst performing sector so far this year will stop the bloomberg utilities index is down by nearly 11%. finally, let's look at treasuries, tenure prices are rising him is nothing that today losing streak from the past few days. take a look at the yield. a tad. just the reason is june nonfarm payrolls. they grew slower than expected which shows the economy isn't as strong as many were hoping. olivia: at kerley, teenagers

don't get jobs anymore. -- unfairly, teenagers don't get jobs anymore. still to come, we will go back live to the aspen ideas festival. the festival is drawing to a close up so we will round up some of the best ideas on greece, the u.s. economy, and much, touch more.

olivia: welcome back. now look at some of the top stories crossing the terminal this afternoon. investigators want to know if airlines in the u.s. are colluding to drive up prices. american and southwest said they have gotten letters from the asking forartment details of meetings and conversations on the supply of seeds. that is a crucial factor in determining say or's and airline trade group says domestic fares are down this year in capacity at a poster session high. the chief of staff or german chancellor angela merkel once to meet with u.s. ambassador.

the reason, to discuss the latest reports of alleged u.s. spying on germany. the invitation comes after would give exposed a list of german phone number is that it claims show the nsa eavesdropped on certain officials cell phones. they caused friction between berlin and washington. aids to scott walker say his entering the crowd for the republican presidential nomination. they say walker will file the required paperwork today and the official campaign kickoff is expected for july 13. the 47-year-old walker is in his second term as governor. he won a recall election in 2012 .fter angry union members that is a look at the top stories at this hour. will the greek crisis affect global markets or has the fallout actually been contained? that is one of the pressing

questions being tackled in the rocky mountains right now at this year's aspen ideas festival. here's what some of the biggest minds in attendance think. >> i'm worried for the economy. >> it is virgin territory that no one is ever left the eurozone before. there hasn't been as kind of a crisis. i think it is the element of uncertainty that has people worried. >> for become vista make the commitments to long-term capital, they don't like volatility. >> 25% of the gdp has been lost over the last two years. it is not as if greece -- ofgreece is just under 3% the gdp of the european union, so it is a very small part. there's a small possibility this could be disruptive globally. >> greece or russia or middle , add to volatility and caused to make ceos reluctant to commit. olivia: those are all excerpts from conversations from our very own betty liu. we will get back to betty liu live at the festival that are on and the bloomberg markets.

-- joins me. even in the rocky mountains, you cannot get away from the topic of greece. , the size of oregon, washington we care? nobody knows what is going on, number one. the greek people don't know what they're voting on and nobody knows what the market fallout could be. interviews, eric interview the mayor of athens earlier this week, today guy johnson interviewing the finance minister yanis varoufakis. mr. varoufakis saying if people vote yes in this referendum coming up this weekend, he will resign. that seems to be the call from some in greece that if the government does not get its way, it has been encouraging the prime and mr. tsipras -- mr. tsipras has been encouraging people to vote no. will the tsipras government resigned? will the be snap elections? olivia: is hard to see how

alexis tsipras holds on. the whole question of whether or not the referendum in and of itself has legitimacy is another topic in a curious one. the last time greece actually held a referendum, i believe was in the 1940's when the greek people were asked, do you want a king or republic? that is a pretty clear-cut question of which probably people had established positions on. people don't know what they're voting on. spoke to people, they said they're voting to stay in the euro. that is not been on the table. greek eagle really understand what they will be voting on sunday? it seems a lot of them don't. they're are good a lot of mixed messages. though what seems to keep getting lost in all of this is the suffering of the greek people. they have suffered mightily for years under mismanagement, under corruption, a pension system that clearly needs reform and clearly is not sustainable. aside from how the outcome of

the vote goes on sunday, there are massive structural reforms that need to be undertaken for greece to get back in the good graces not of the eurozone, but of the international investment humidity because there are -- they are still wary about what is going on. olivia: mark, hang on -- are: those pictures horrible when you see the pensioners lining up outside the bank and they can only get x amount of dollars. you have whole families, some of which are living off of greg martin grandpa's pensions -- grandma and grandpa's pensions. it is our breaking. olivia: i went to bring back in betty liu. we can't stop talking about greece, but also today was the jobs report. i know you have been speaking to a lot of business leaders and ceo out there. what are they saying about the state of the u.s. economy? eye onthey all have one greece. that is no doubt. but of course, they're focused on what is going on here in

their homeland, in the country. we spoke with david rubenstein. i know we are going to be playing some of that or i know you have already played some of that sound from the interview with him or he agrees there is no lift off yet in the u.s. economy. one ceo who really has his pulse on what is going on in the u.s. is the ceo of southern company, the fourth largest utility company in the u.s. and knows exactly what is going on in the southeast. remember, the southeast is generally one of the fastest-growing and is florida, which has seen huge job growth in certain areas. this is what he said about what he thinks for his business. >> what we're seeing in the southeast traditionally, the southeast a stronger than the rest of the united states. we of an immigration of people, good constructive business climate. the industrial growth in the southeast has been terrific. it has been really good. last year we saw 3.3% growth in sales with gdp equivalent,

that's like 6% gdp growth in the industrial sector. but we haven't seen anything in terms of residential or commercial consumption. you can imagine, guys, when you get a bunch of ceos and policymakers together, the first thing they talk about is what kind of reform can they put through in washington. and no surprise, all of them talked about corporate tax reform. every ceo said, we had mark weinberger from ernst & young yesterday saying we have to bring that money from overseas, we need to give companies a tax break, bring those trillions of dollars back here on shore and it will create jobs. nobody has high hopes that we are going to see much put through in washington quite yet. it is a lot of talking, guys. exchanging ideas. but not a lot of hope we will see some execution when it comes to row growth. frustration of

tax reform and immigration reform you hear constantly from u.s. ceos. off the main stage, what are you hearing and the conversations on the sidelines? what surprised you most? oliviait is interesting, . many ideas exchanged on stage as there are in the hallways, out by the gardens and of various parties that were held last night -- i was at one of them at very louder's home -- gary lowder's home. there were talking about politics and greece, but what was surprising was the different kinds of people altogether in one room. there was a conversation with david koch and next to him in a separate group was tom stier. you could not get to people from two different planets, basically, together. what i thought was interesting

was valerie jarrett was talking about criminal justice reform and how various folks that have been enemies of white house, including grover norquist, a coming together on something like that issue. so there is a low but of hope, right? some areas were both sides can work together. olivia: it is the magic of the rocky mountains. i am particularly jealous of you being there. you look great. thank you so much, betty liu. fascinating conversations coming out of the aspen ideas festival. we are some breaking news coming out right now on yelp. the news is that they're so profits is said to have stalled -- the news is that their sale profits is said to have stalled. >> temporarily setting not to pursue a sale, courting to people with knowledge of the matter. you might know the website is a consumer review website. it said several interested suitors might have been interested, but they decided not to do it in the immediate

future. they've asked not to be a den of five because the information is private. in the past year, yelp has lost 50% of a share price from its 52 week high. and on news this was going to be a sale from may 8, shares have slumped about 17%. they are trading at about $41.49 a share. more news as this develops. olivia: it is interesting because the bloomberg headline is saying its founder or changedr and ceo had his mind. yelp had hired goldman sachs to perhaps try to sell the company. remember, five years ago this company turned google down when cool -- google try to buy them up. the company hasn't been doing so well lately. sales growth has been stalling. there was speculation from the early may stories as you say that they were going to go in action pursue a sale, but maybe something is changed. >> it was a darling child for

the past few years. i use yelp a lot. i think -- i just met someone over at yelp yesterday so i think i will make a couple of calls in secret and get them on the line. olivia: looking for to hearing what you find out. don't go away, so much more to come here on the bloomberg market day. including he is at the forefront of two major business issues post-up senator richard blumenthal will be joining us to talk about puerto rico's debt crisis. what does he think the u.s. government's role should be? does he think puerto rico should be allowed to file for bankruptcy as if it were a state? plus, why is he investigating collusion in the airlines? ♪

>> 1:00 p.m. in new york city. : the u.s. adds 223,000 jobs

in june but wages are going nowhere and more people are leaving the workforce. how this will impact the fed interest-rate decision. agrees finance ministers beaks out saying he would rather cut off his arm than to sign a deal continuing austerity. the latest live from athens as greece repairs for the referendum. our airlines working together to keep affairs skyhigh? letter mayp -- whose have sparked the whole investigation. ♪ olivia: good afternoon, everybody. mark: thank you for staying with a spear let's look at the markets at this moment in u.s.