♪ shery ahn: an update of the call stories. the dollar index fell after donald trump lost the first in your member of his team. michael flynn resigned over his contacts with the russian ambassador to the u.s.. staff will be the interim advisor. -- dollar index trading at down .1%. shares plunging in tokyo after being asked to delay in the report. reuters missed the noon announcement originally scheduled. ready to announce a write-down

of as much as $6 billion in the nuclear power business. inces in china grew 6.9% january. beating economists estimates. the fifth straight monthly increase. , aear ago comparisons measure of computer desk consumer price increasing 2.5%. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. you are watching bloomberg. let's get a check of the markets in play. regional benchmarks swinging between gains and losses. ♪ corey: -- caroline: apple closes

at an all-time high. what is behind the surge and can sustain. facebook trying to break onto the music scene. the tilt head. -- details ahead. we will dig into the talent exodus. to our lead. it was green across the board again for u.s. stocks, hitting new records including the nasdaq and the world's most valuable country just got even pricier. joins us fromtle new york where they wrap up the trading day. apple's record highs. reporter: a big day for stocks in part because of apple. ae major averages fishing at major high, apple was the top

area. finishing at its first record high in two years. the stock could be undervalued by $15 per share on some of the parts basis. when we take a look at a two-year chart, apple hit record highs and then a fellow 30%. disappointment around the iphone 6 s. strong demand last summer on the iphone 7. aboutvc anf chatter iphonev eight super cycle plus the possibility that services could kick in. apple trading at levels last seen in 2015 area there is more to go. lots of a bullish action for stocks in technology and apple area caroline: with apple's help it seems to be tech, one of the best-performing sectors so far on of the day. it has small --

it hasn't not all been that pretty. reporter: tech was hit initially after the election. .elecom is a bit of a reversal telecom was up 18%. a great terminal chart on this. a big 18% move for the telecom sector. 8% fall. there is something in that regulation will be have held back. today we have a new bout of weakness. weakness on of the day as for eisen said it is in fact going to offer unlimited data, months of speculation whether they would do this. us that thisold

tells us this is a price war for the telecom giants. obviously investors today not liking it too, caroline: this tells at the grammy awards in los angeles sunday night, top music executives were trading notes on a new acts trying to break into the scene. facebook. the giant has redoubled its efforts to reach a broader part of the industry according to bloomberg sources. joining us from l.a., thank you for joining us. moving we know about the -- wooing from facebook? reporter: they have been making the rounds around l.a.. more importantly their lawyers are talking to the label lawyers.

they want to come to an agreement when you and i upload a video on facebook, the label somehow gets compensated. that is complicated because you have to work out how is facebook going to identify when a song comes up, who is it and who they own money to. caroline: what would be the impact if facebook muscles in? reporter: there is all sorts of ramifications. itself, it is moving more into video and trying to sell advertising against video. if you think about the most popular way to listen to music, it is youtube.

facebook wants to hone in on some of that demand. , itt does that successfully is a real alternative to you to. the big battle between those two heavyweights become another front for the music levels. this does create another stream of revenue for them. it helps them put pressure on youtube. about howave rules the governor the copyright. the streaming companies have been this story of success. they have helped the music industry grow for the first time in a long time. another popular way for people to listen to music, you could start to see some of that hitting cut in.

there's a whole balancing act that goes on for the music industry. labels might be pleased by who facebook is hiring. reporter: facebook is made a through noty hires just the music portion but video portion. there is some sense that that is how you make a motion to say look, we were listening and we are in this for the long haul. caroline: what are some of the roadblocks potentially they could come across by getting into this? a mentionedke earlier, you have to have the right technology to be able to recognize something that is

copyrighted. what do i do with it? that is not easy technology to do. the labels aren't always pleased. now, it isght growing news feed. your friend's baby pictures, blah blah. you, if you want to have a music video or something that a label is trying to month, where does that come in? you have to deal with this with original content in general. these are all things that have not worked out yet. thank you very much indeed. staying with the music industry in fact, the revolving door has swung at soundcloud.

the chief operating officer and marcus harder and both left the company. comeartners -- departures as they may even run out of cash. talks recently broke off with spotify. coming up, we talk with a member -- eric jackson. his take on everything from tesla to elon musk relationship with president trump next. this is bloomberg. ♪

♪ caroline: urging lawmakers to prevent states from setting their own differing autonomous

vehicle rules. some thing carmakers could say threats the emerging industry. national to the conference of state legislature, 20 states introduced law on self driving vehicles in 2016. speaking of the auto industry, tesla is making a move to sell its pricey electric cars in one of the world's largest oil-producing nations. uae. from a model s sedan for the sardella -- delivery. its first service center in the middle east in july. jacksonl joins us, eric . documentinesses see shared with the outside password. he knows the man behind tesla well. i want to start with you.

is there plenty of demand from these oil loving buyers? risingit obviously has a middle class that likes flashy cars. caroline: let's take it out to eric. someone who has worked closely with elon musk. when i had the pleasure erin: -- company that was intended to disrupt online banking and that merged with -- to make a call. he dreamed big and was going to swing for the fences. caroline: let's talk about the dreaming up big because the scale of his ambitions, if you look at what they want to target by 2020, we are thinking more

models. autonomous vehicles. can you run us through what they are going to achieve. dana: a pivotal year because this is a here he has promised to unleash the model three, the more affordable sedan. production supposed to begin in mid-july. the000 people have reserved car. it all the people really waiting for this to come out. it is the key to profitability. caroline: do you have one? erin: i wish i had one already -- i wish i had one already. the previous ones. we are waiting for the three to come out. like thousands of others, i am very excited to see it. caroline: give us a sense of elon's utopia. andpeaks very emotive late reduced to tears about some of the real areas he wants to grow. particularly about saving

humanity. whereu give us a sense of he wants to take this company and what he sees in terms of its reward for few minutes he? erin: 17 years ago -- he became the poster child launch for newer ship. the most pronounced entrepreneur in america today. much of a new or to change the world in some way. we you think about what elon is doing, his interest are diverse. electric cars, spaceships, the plans for the hyperloop, he is working on artificial intelligence. he was in the media this morning talking about how human consciousness will need to have a technical of load in order to

compete with artificial intelligence in the computer -- future. he is certainly interested in making the world better and there are something to commend him for from his entrepreneur all activities to his political activities. run us through the controversy. elon musk seems to not be able to do much wrong. dana: he first came out and said he supported rex tillerson, and that surprising lot of people. tax, seems to be a carbon which they agree. brass travis totally resigned after this cry from consumers and employees, elon put out that he would stick with it and it would be better to be at the table than not. by march tesla's customers have

gone along with that. not a huge number of people canceling their orders. bestfeel like elon is the chance to have a moderating effect on the president. caroline: you want with peter thiel, the right-hand side of now president. many thought this would damage his reputation. is this something that's a price you or confirmed your view on the people that you know? peter thiel is one of the investors of my company cap link. peter, elon, all of the people i have had the pleasure to work with in the past are both big personalities. they have big visions for the future. they find ways to work together. i wrote about this in the paypal wars, chronicles the early years of the bells existence. there was a lot of turbulence. areas where peter and elon

disagreed. the haveortant to see actually worked together over the years. worked together on many things and found a way to collaborate. that's what you do when you are a leader, to leverage with people even if you don't see eye to eye. thank you for shedding some much light on elon musk. thank you both very much for joining us. reachingdent impact is the broader market. countries in the mineral market are increasing their stakes in copper and cobalt. in part due to the demand for the electric carmaker use of cobalt in lithium-ion batteries. buying and -- this according to a person familiar with the matter. $960d at a whopping million. boom forhe global electric vehicles. cobalt 75% rising in the last

year. verizon is jumping on what is becoming an industry bandwagon. the change of heart on a key offering to customers. and new feature we would like to bring to our attention. the interaction tv function. us not only be able to watch live but also see previous interviews and dive into any functions we talk about. you can become part of the conversation by sending us instant messages. this is for bloomberg subscribers only. this is bloomberg. ♪

+ caroline: $80 a month for a single user, $10 higher than t-mobile. unlimited data. biggest-face for the wireless provider in the the u.s.. they refuse to offer unlimited in the u.s.. a closer look at the t-mobile staff. the numbers do not lie. released t-mobile has per or a subscriber data and the key number to watch for is governors. at,003 at the total number 1.2 million. he's coming at the expense of competitors. t-mobile is the leading in the

middle. at&t, verizon, and sprint. doing a better job of retaining customers. take a look at the declining return rate for postpaid subscribers. an overall downward trend which shows the rate of customers that stop subscribing is falling. proves these customers its earnings. its 2016raised forecast to as high as $10.4 billion. to be fair t-mobile's customers gain come at a cost. analysts on average estimate cents --ollars .5 nine $47.59 all of the subscriber gains for the and carrier strategy -- un

carrier strategy. bryson announced data book -- unlimited data plans. dropping t-mobile's share price lower. coming up of course will be t-mobile's result. we will be speaking with none other than the ceo. -- pentagon is paying actors hackers to test for weaknesses. this week we will be at the goldman sachs tech and internet conference. joined by many big-name guests covering tech industry. joining bloomberg television for an exclusive interview wednesday. this is bloomberg. ♪

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anchor: the dollar index fell after president donald trump lost the first senior member of his team after less than a month in office. resigned overhas his contact with the russian investor to the u.s.. steve mnuchin has been sworn in as the treasury secretary. the formervor of goldman sachs banker who had to suspend his record running 11 -- one west bank.

>> i share your economic vision and goals and am committed to working with you to enact policies to grow the economy and making better economic opportunities for all americans. prices in china grew 6.9% in january. -- gains mayaight slow in the coming month as comparisons rise. consumer prices also beat estimates, 2.5% in january. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. the marketson how are trading in the asian specific here today. we have seen a little momentum of the asian market. we have just heard that toshiba has applied for a one-month delay in releasing its earnings.

we sell the stocks absolutely plummet in tokyo after it missed the deadline. noble group sorting by 9%. discussions with a strategic investment believed -- nikon is the worst performer, down almost 16% after its annual forecast. plunging the most in almost two years. how the overall indexes are going, mostly weaker today. we had that very strong rally yesterday. the highest we have seen. asian equity markets though i 2015. you are seeing weakness coming through in shanghai even though cpi came through above expectations. a strong rally coming through in hong kong yesterday. a little bit of investor unease ahead of janet yellen's testimony for congress.

coughlin resigning from the trump administration which has waded into the asian currencies as well. this is bloomberg. ♪ caroline: this is "bloomberg technology" and i'm caroline hyde. apple beating a new record high raking $133. the next iphone will draw a resurgence in sales and have the company's growth. u.s. markets hit another record in the session overall. digging in, you will see the i.t. section of .65%. financials rise would .2%. paypal one of your key winners

when you look at the i.t. area in the s&p 500. on the downside, nvidia was the worst performer. back to apple, we are joined by alex webb who tracked the rises and falls. are they that much more valuable? alex: the stock is at a record high. they are interestingly not at the records market capitalization. little belowally a that peak market cap. the stock is of the highest ever. cap,ine: market tentatively so close to 700 alien dollars. -- billion dollars. lex: it did take a bit of a boost after the earning score of the other week. the expectations for the next iphone sales.

since then it is been tracking the market. forecast for the present quarter have kept people very optimistic. analyst: rb likely tons, see this stock rally continue? alex: that is the implication. we are kind of getting very close to the target price. not vastly above where it is now. 142 with the average on the system. interesting to see how the end of the year that will be the clincher. to see how compelling the next iphone is. how they succeed in attracting new customers in asia and china. that will speak to the attractiveness of apple as a brand. we have seen competitors in asia

have increasingly succeeded in developing phones as good as the but they don't have the brand cachet that apple has. caroline: and how much they can get banged for their buck from the user base. they said they have more than a billion pieces of equipment. that is increasingly the narrative that they executive is trying to push. they intend to double services over the next four years. the average revenue per user is something that is specific as people are looking at. you don't have to invest in the software. infinitely replicable. that is why apple is pushing into things like apple music. steps into television content as

well as the app store which sells a huge number of products every year. apple's get a cut of that. caroline: this is alex webb, thank you for breaking in to a record day for apple. u.s. cybersecurity continues to be a major theme under measurement from -- president trump. a three-year, $4 million contract to carry out bounties across the -- hack bounties across the pentagon. we have the ceo to talk about the way in which your ethical hackers are helping shining light on the vulnerabilities of the pentagon. you have worked with credit card companies. how does working with an institution like the pentagon change things? reporter: it is not a whole lot different. the pentagon recognizes the threat is just as fast for

government as it is for private enterprises. they are realizing the only way to stay ahead of the ongoing threat is to utilize the same hackers that are attacking them every single day. they're using the hackers for their advantage. they are trying to get the perspective of what they look like when they are trying to break in the most critical infrastructure. the much critical assets that are running this nation. it is really exciting to see them take this more progressive approach. but the technology companies have done for quite a few years. the health care companies jumped on board. finally we see the government -- government jumping in. caroline: talk to us about your experiences. up? does that bring was the pentagon surprised by how many bowlers qualities it had -- vulnerabilities it had? let's do assessments on our systems, let's take reports in

and try to mediate all the problems. the difference in his instead of one or two individuals we have across the united states trying to break into a very critical system. the first time the government has ever attempted something like this on an internal sensitive asset. in a few hours we found something pretty critical. it ended up on secretary medicines desk within 24 hours. caroline: phenomenal growth in cyber threats. not so much for more growth in the price, the amount of investment in cyber attacks coming from the government. jay: it is scary and the government is trying to realize they need to think out of the box. -- they need more progressive solutions or they will never stay ahead.

a massive supply and demand threat when it relates to cybersecurity drops. unfilledllion jobs globally. by 2019.ing there is no way we will hire all this talent. i utilizing crowd sourced approaches is the only way we will stay ahead. caroline: the global access of his -- this, more than 80 of the top ethical hackers in the united states. are you looking to ethical hackers outside of the u.s.? jay: we love attackers all over the world. 40 different countries, we utilize them for enterprise focused customers. the u.s. government is more sensitive to leveraging people in yesterday -- russia and china but we expect them to expand the scope overtime. comfortable with this they will be comfortable with the ideas of bringing more and more people out of the boundaries of the united date starting with our allied nations, new zealand, australia, canada, the u.k., and expanding from there. caroline: we saw the graphic of

how much they have increased under the first few weeks of donald trump's presidency. is it just that the media has got excited about it? indeed, 1512% growth in cyber threat in the past 10 years? have they gotten more frequent and damaging? jay: the threat is increasing in velocity but we are doing a better job at actually spotting the attacks. the data is actually a bit deceiving. we have better technology and capability to figure out when our people are attacking our networks and government. that the number looks like it is increasing. we have been attacked by other nationstates come on by other entities for a very long time. this is nothing new. it is getting more sophisticated and we are hearing about it more in the press than we ever have before. more ways of tackling it the companies such as your own. caroline: thank you for joining

us. asia'sup, turmoil at second-largest i.t. services company. mariana murphy is calling off his fight with the board. check in with our team next, this is bloomberg.

♪ caroline: travel disruptions in india have two meters facing major delays in the past four days. to continue to dispute with to ars, bring it

standstill. demanding better pay and working conditions. the maids and could a revision of the minimum fares, bringing back bonuses, and producing the commission rate as well as limiting the number of cars registered on the app. mariana murphy is calling off his fight for the board. the company will deal with questions. he had raised concerns about governance and executive pay. ishas made his point, it confident the board will sort it out. joining us is peter ahlstrom. peter, begin this story for us. it has had a few headwinds. certainly concerned about the h-1b visas in the united states. founders haveee expressed concerns about how

things have been managed. a big pay increase for the ceo and severance packages they thought were quite side. the business has become more challenging. you have trump and the h-1b visas. the industry has slowed down. as you say, the founder murphy is saying he is calling off his battle and made his point about pay. now he will leave at any board's hands to sort this out. caroline: a little relief in the stock on the price of that. peter: that is private -- that is right. they need to sort out what will happen from here. we will see exactly what the cofounders do at this point. they sent this letter, they have expressed their concerns area

caroline: i want to shift gears away from india. nubbers expected to come out, this is not a tech giants. largely to do with a nuclear bet that this is not going to well. toshiba is like one of japanese business. more than 600 different businesses. they do everything from make elevators to semi conductors. they run hospitals. they design and build nuclear reactors which is an enormous business to this is coming later on today and it has to do with the nuclear business in the u.s.. a decade ago they got contracts to build nuclear reactors in georgia and south carolina. they hired somebody to build those reactors. they ran into steep trouble. companyeed to buy this

a year ago and months after the thesaction, they realized construction is going much more slowly. between 400 billion and a ¥700 billion. it is a tremendous amount of money. japan has faced its own wealth of concerns. on the offensive in any of this? this is the second accounting issue that is, in toshiba. in 2015 separate issue and took a write-down last year that was more than $2 billion. another write-down that will be multi billion dollars, a big deal for toshiba.

that's touched some of the other companies companies. -- japanese companies. sell a chunkg to of their business, 20%, to raise a couple of billion dollars. looking eagerly as what the numbers are when they break. peter ahlstrom live from tokyo, thank you. coming up, google's car project has hit a few road bumps. behind-the-scenes next. a new feature we would like to bring to your attention. an attractive tv function at tv on the bloomberg . previous interviews and a dive into securities are bloomberg functions we talk about. become part of the conversation by sending us, send me an instant message during the show. this is for bloomberg six robbers only. -- subscribers only.

this is bloomberg. ♪

--oline: facebook is adding a deal with univision, the social network cost 46 mexican football or soccer games starting saturday and through the playoffs. the commentary will be in english and facebook streams will only be allowed in the u.s.. the terms of the agreement were not disclosed. unit areits directv being sued for alleged collusion in terms of the negotiation to show ellie dr. games. -- ellie dr. games. and $85 billion purchase of time warner, which would create a content distribution giants. at&t dismissed concerns the

takeover would limit congress -- competition. now to one of the top stories on the bloomberg, google's car business has seem a pileup of problems. rising costs. an inside look, one of the authors of the peace. -- piece. you want to pay people to stay on but they got such good payday left. never have robot assists been paid so much in the history of the world. they have a program for about four years in a row. a very unusual compensation system which kept a lot of the great sub driving car software engineers around but at the end of that "there is a big payout. caroline: almost like the lock-in was not long enough. left, some of them much cash they do not need to work.

some of them caching and even more. most of these people aren't the type of people who will retire and sit around. concerns about the strategies direction last year for the google project. doubts about the new ceo running that now. arrived toackage give people another excuse to get going and he is one of the major guys, doing a startup. argo ai, a degree to investing billion dollars in that company. three or four people who work at that company right now. caroline: what unicorn to be working at. what about the competition? that has perhaps drawn away some of the --

many have taken a leaf out of their books. reporter: 2009 they unveiled the first car. by 2015 to get more than a million automated miles, more than anyone else. i would argue the software is still the best. companies are throwing a latte at this as well. the ceo cannot have the best to rain and the exuberant spending that was going on in the other projects departments. she must have looked at this. she don't think to it slightly about the expenses. the health care best may have as well. a similar system that has not produced a big payouts yet that they have a similar one. the advertising money machine, you couldn't sit around and make

a lot of money. they wanted to isolate these projects and save windows do well, you will do well as well. caroline: working at a startup almost. the problem was these companies did it too well. reporter: the car project one is tricky because they have not generated any revenue. on a traditional level of success they are not done much yet or if if you look at it from the point of view of changing transportation and getting these other companies to respond, they well. caroline: how about allowing them to exit a little too early in whatever form that five b. great piece of journalism. a great story, i urge you to go and check it out on bloomberg.com that does it for this edition of "bloomberg technology" tuesday we will hear of the ceo of t-mobile after the results. all episodes of "bloomberg technology" are livestreaming on twitter. we kids at 5:00 the them, 2:00

p.m. and san francisco. this is bloomberg. ♪

francine: flynn quits. the white house national security adviser resigns amid allegations of improper contact with russia. manus: global reflation stirs. china's producer prices surge the most since 2011 as consumer prices rise above estimates. francine: credit suisse reports. we break down the numbers with the ceo this hour. manus: plus don't miss an exclusive conversation with alexandra ricard. we speak to him about trade, politics, and how it could impact his business. ♪