he testified today at the house intelligence committee's first hearing on russia's potential interference in the election. he says he was authorized by the justice department to confirm the existence of a counterintelligence investigation. jake neil gorsuch gave opening statements today, the first day of his confirmation hearing before the senate judiciary committee. chairman chuck grassley says the plan is to have the supreme court nominee confirmed before the senate takes a two-week break april 10. confirmed,rsuch is you would restore a narrow 5-4 conservative majority on the court. president trump met with iraq's prime minister at the white house today, the foreign leader's first visit since the inauguration. it comes before the president's plan to host d68-nation meeting to discuss advancing the fight against islamic state. , banker,kefeller presidential advisor, and air to

one of the most fabled fortunes has died. at 101, he was the world oldest billionaire. he was the oldest and last surviving grandson of john rockefeller, the nation's first billionaire. global news 24 hours a day. from bloomberg world headquarters, i am mark crumpton. ♪ caroline: i am caroline hyde. this is "bloomberg technology." as its blow for uber president heads to the exit. the latest on the embattled company. apple makes a bet on the next big thing. could augmented reality replace the iphone? public debut, not one analyst has a buy rating on the firm until now. we will ask the analyst why he is bullish on the company.

but first to our lead, uber as confirmed jeff jones is leaving the company after less than a year. ofs follows reports allegations from sexual harassment to the c.e.o. travis kalanick. the company is a world in a lawsuit with waymo. waymo claiming uber is using stolen secrets attained by one of uber's former executives. joining us to discuss is brad stone and eric newcomer who is all over things uber. it is interesting because on one side of the equation, is it the amount of controversies and scandals? on the other side, it is about --that they are about to hire a c.o.o.? >> they brought in jeff. he was a big hire. they were going to make the

ridesharing operation more marketing savvy. he was in charge of the global ridesharing operation. now we are talking about hiring a c.o.o. who will be the number two. it is an effective demotion for jones. his role never measured up to what was advertised as when he was hired. we have a statement from jeff jones who is saying uber is at odds with the beliefs and approach to leadership he had before. >> he knows where to kick them on the way out. word came out jeff jones was leaving uber. travis kalanick sent an email to employees that leaked out saying or implying jeff was leaving because he was going to be passed over. jeff released the unkind statement saying the leadership roles were not consistent.

this is not how uber wanted to have a list. they do not need another controversy on the back of summary others. one thing jeff jones had to do at uber was really -- improve relations with drivers. they want higher fares and tipping function on the app. it was not my sense he was empowered to do those things. he did not accomplish much in his months out uber. caroline: do you know what the reticence might be about the tipping function? thate concern is a tip uber cannot take a cut of the tip. it slows you down. you think about the cost. they do not believe in it. has a dynamic price for the writer and driver. there is a lot of apprehension. you can talk to almost any

driver for uber anywhere in the world and they want a tipping function. it is pretty straightforward. drivers are half of their constituency. a lot of riders want it, too. it has been a tough issue for them. caroline: when we look at marketing at uber, it feels as though many people have not about the drivers for the product is what they like and the efficiency. >> i do not think this by itself. i just came back from london. never was it clear to me that uber has more holes on daily habits. uber is little competition in london. that is true in many parts of the world. they have been through a lot. the brand has taken a beating the last couple of weeks. rip the smartphone out

of peoples cold hands and they will cling to it. people love it. >> the real risk is the employees, the third wheel on this. these are software engineers who could work at any tech company in silicon valley. they are globally sought after. if they think they are working for a company they do not believe in any more, will not go public soon, they go home for thanksgiving and people think it is evil, why are you working at that company? i think that is the big brand issue they face now. caroline: interesting to talk about employees. another employee walking out the door is ahead of mapping. >> brian mcclendon is leaving. i think he is staying on as an advisor. he is going home to kansas. he is among a string of executives who have had to depart in a very short time. caroline: all of this comes at a time when many were hoping the had stalled and we thought

we might see giants come through the door. uber has been able to raise money on the private markets. the taunus on the brand and regulatory risks postpone it further. inuber cannot do anything the near term and needs to solve the reputational issues. it might hasten an ipo because this is a company that needs to show it is professional and subject to the scrutiny and willing to be responsible and accountable to investors, to the world at large. i think going through the ipo process sooner might help them put these controversies behind them. >> the leverage relationship between uber and its investors is complicated. most of the power sits with travis and his close friends who are fellow executives and board members. it is hard for investors to get much of what they want. at the end of the day, uber

needs investors to have a positive view of the company. i think it is possible the theory holds water. travis needs to retain the relationship in some way. investors have been clamoring for an ipo. they want it to happen at some point. now travis feels more pressure to make them happier. to rewardtter way employees staying than to take the company public and give them liquidity? caroline: this is what bill , they has been calling for discipline for the company, maybe an ipo would help. thank you brad stone and eric newcomer. speaking of uber, the company is facing another newly formed alliance of rivals. this time, it is a dubai-based company partnering with a chinese company. they will use the london-based startup technologies to correlate fleets and payments

after they forged a four-we partnership against uber in 2015. coming up, tim cook is betting augmented reality will keep his company on top and may even supplement the iphone. we will bring you the story next. this is bloomberg. ♪

caroline: tim cook has talked about a lot of technology. driverless cars and television streaming to name a few. now he is making a big bet on what he thinks will be the next big thing -- augmented reality. a.r. overlays images and games on the real world. according to reports, apple has embarked on an ambitious to bring it to the masses. gurley -- is mark

mark gurman who brought us those reports. what sort of products are we talking? >> it will be in a few new products in the 5-10 coming years. that would be a are glasses that would deem -- beam information to your eyes. on youramera app iphone. caroline: something along the lines of google glasses? >> their two ends of the spectrum for digital lasses. there is something on the side of flimsy, not useful on one side. on the other side, there is the oculus rift. these devices are big, powerful or. they work well and do what they say but they require a connection to a desktop computer. what apple needs and wants to do is strike a balance. they want the small, skinny factor of google glass but they

also want the power and connectivity of the more powerful, more expensive items from oculus and microsoft and whatnot. caroline: how crucial will this be in terms of supplementing or surpassing the iphone? >> investors are itching for the next big thing. what apple has been good at is cannibalizing itself before a competitor cannibalize is them. we are at a turning point where the hot item now is the smartphone. 10 years from now, is everybody going to have a smartphone? that is the question that needs to be answer just like the question of transition from laptops to smartphones to smart watches. apple needs to think about the next big thing. that.ill be key to they are assembling a team to build those products. caroline: you're talking about oculus, halo? apple willssible

want to create the experience longer-term. in the short-term, three to five years, tim cook seems that on delivering the ar experience. vr is medical. there are commercial practices. you can put on a pair in anatomy class, you can walk around and tap different elements of the brain to learn more about it. it is possible apple would want to do that on a smaller scale through a.r. in vr, you get a fully encompassing experience. in a.r. i can be looking at you and it will give me information about you. i also see everything around us. vr, i would not be able to see anything but the app i am in. caroline: what about the competition? i was reading a story about facebook's focus as well. everything seems to be

dipping their toes but very early. apple is still very early in its ambitious even though they have been working on it a few years. facebook is still early. oculus is focused on the v.r. microsoft is focused on the headsets for gaming and movies. after speaking to people, it seems apple will be the one to pull it off. it is not only hardware side and miniaturization which apple has shown a good attitude at doing those products in a small frame, but it is also the content and media side. apple better than any other company has been able to integrate software and services with hardware in one package. we have not seen a delivery in terms of hardware from any other consumer maker. caroline: mark gurman, brilliant reporting. all things apple with mark gurman on "bloomberg technology." satellite-based internet is one

of the hottest frontiers in the commercial space race. we will speak to a company that recently got a $1 billion boost. that is next. a feature we would like to bring to your attention. it is our interactive tv function. you can find it at tv . it will not only be able to what a slight but also dive into any of the functions we talk about. you can become part of the conversation by sending us instant messages during the show. this is for bloomberg subscribers only. check it out at tv . this is bloomberg. ♪

software-backed company just broke ground on an $85 million satellite factory near the kennedy space center. the new facility will be capable of making 15 satellites a week bringing it closer to its goal to having a constellation of satellites capable of beaming internet around the world.

joining us for an update on the plan is the founder and executive chairman, greg wyler. wonderful to have you in the studio with us. the new facility, when might it be up and running? >> we have a facility in france already we are inaugurating in june. we will be inaugurating two lines at possibly the end of this year. a lot of things have to go smoothly for 2017. caroline: what about the constellation of satellites with the internet? when will that become a reality? >> we are more than on track to bridge the digital divide by 2027. we made a statement originally to connect every school in the world by 2022. there are 2 million unconnected schools globally. we will move to connect every school to everybody. that means they can have a gdp

adjusted internet to high-speed access available. incrediblet sounds and a positive outcome for many of those who are not connected. there will be appetite for the telecom sector. where are you finding the appetite for potential clients? >> the appetite is everywhere. i really enjoy it when people say, is this philanthropy? are you doing it as a donation? the answer is no, it is sustainable. it will be a popular business but it will accomplish good things for humanity. the most important thing we can do is bring the other half of the world online because without access to the internet, people in those regions have no ability to be economically related to us. caroline: talk to us about how it is profitable. satellite networks built to bring the internet and

the amount of money and bankruptcies. how do you not have that problem? >> the history of satellite and broadband satellites is bad. there are a number of bankruptcies. a company i founded was the first one to go through the whole thing without bankruptcy. we were very lucky. a lot of luck and hard work. that was very successful and is successful today. if you look at the other companies, the key thing first of all is spectrum. whenever i talk to an investor, it is spectrum and then we get to the rest of the conversation. iridium has about 7.5 megahertz of spectrum. we have about 3500 megahertz of spectrum. it is a completely different ballgame for what we are doing. iridium is designed to go to a small handset for emergency situations. we are designed to go broadband to home, to the connected car. i mean hundreds of megabits per second and gigabits per second. caroline: the use case is much

wider when it comes to something like oneweb. , you cannot roll it out everywhere without having proper backup to the sites. caroline: i want to get back to competition. looking at some of the ones wanting in on the game, spacex, what does it mean if elon musk is casting his eye at it? it looks as if spacex is having discussions with the fcc. >> there are 10 or 11 that have filed for trying to get some of the u.s. spectrum. is under the itu under the u.n. every other country except the u.s. follows the u.n. the u.s. is on its own path. we have global rights with the u.n. and have filed with the fcc. they have made positive statements recently, so we are excited about what is coming. caroline: the last time i spoke

to you, it was before the announcements you were merging with intel sat view with the money coming in from softbank. can you give us an update on how that is going? >> there is so much going on and so many people talking, i could not give you that. there are many emails flying around at activity. but it will be exciting. we are looking forward to the eventual outcome. caroline: thank you so much, greg wyler. please keep us updated. is the founder and executive chairman of oneweb. fast food giants have placed big that's on technology with the aims of getting a competitive edge with well-known and upstart restaurants getting in on the action, we have more on this story. >> the automation wave has arrived and has whetted the appetite of your lunchtime favorites.

mcdonald's is the latest fast food company to take advantage. the burger chain has begun testing mobile ordering and payment in select cities. it says all of the 14,000 national restaurants will be equipped to handle mobile preorders later this year. the creator of the big mac is a bit late to the party. other chains have already adopted this kind of technology to help with sales. domino's is a leader here. for the past five years, the company has been emphasizing all the ways you can order pizza with minimal human contact, maximum digital contact. it has engineered more ordering methods through facebook and twitter with emojis and the apple watch. as the company both of its tech financialas seen results. the share price has increased 60 fold. the company is now worth $9 billion. starbucks also an early adopter with mobile ordering and pay

technology, in the u.s. mobile ordering makes up 7% of all store transactions. the company may be a victim of its own success. customers who order on their phones and pick up in-store are in some cases seeing longer lines resulting in lower traffic and sales. one san francisco-based restaurant chain might offer a glimpse of the fast fugue future. it is a highly automated food chain where all of the ordering takes place on ipads or mobile. you pick up your order on a wall. there is no need for cashiers or servers. just a few human hands behind the scenes. the premise is maximizing efficiencies. where this may lead is anyone's guess. showinghe evidence is we are marching toward a fast food world where human intervention is optional. caroline: working up an appetite. a story we are watching. they are considering whether to make a higher offer for moneygram.

in january, it announced the plan to acquire moneygram for $13 a share in cash pending regulatory approval. last week, they swooped in with a $15.20 per share offer. it is likely they will counter or bid with a higher offer wait until due diligence before delivering a rival bid. snap trading got off to a volatile start. analysts could not seem to get behind it. one analyst is breaking with the consensus out with a buy rating. we will hear from him next. all episodes of "bloomberg technology" are live streaming on twitter. this is bloomberg. ♪

mark: i am mark crumpton. you are watching "bloomberg technology." let's begin with first word news. james comey testified today at the house intelligence committee's first hearing on alleged russian interference in

the presidential election. >> with respect to the president's tweets about alleged wiretapping directed at him by the prior administration, i have no information that supports those tweets. and we have looked carefully inside the f.b.i. the department of justice has asked me to share with you that the answer is the same for the department of justice and all its components. the department has no information that supports those tweets. mark: in a few days, british prime minister theresa may will begin the formal process to leave the european union. the prime minister says she will trigger article 50 march 29. it starts the clock on two years of political and economic negotiations to create a positive partnership. new video from the associated press purportedly shows the moment when a suspected islamic extremist grabbed a soldier from behind at paris' or the airport last weekend. the brief shutdown shutdown the second-biggest airport in the french capital. the attacker was shot and killed within minutes. no one at the airport was

wounded. north korea says it will not cower to tough talk from the united states about potential preemptive military action after secretary of state rex tillerson visited the demilitarized border on the korean peninsula last week and declared the policy of strategic patience over the nuclear program had ended. global news 24 hours a day powered by more than 2000 journalists and analysts in over 120 countries. i am mark crumpton. this is bloomberg. it is just after 5:30 p.m. in new york. 8:30 a.m. in sydney. paul allen has a look at the markets. >> good morning. let's start in new zealand. it is off to a flying start up .3% so far. 1% at theup about moment after announcing a 6.5% increase in profits of about $7 million.

not looking so rosy about -- around the rest of the region. futures pointing down. a couple of stocks to keep an eye on in australia, the infrastructure firm has bought a 19.9% stake in the struggling cleaning company. a profit ofith $24 million. we are waiting on house prices and the reserve bank of australia minutes for the march meeting. i am paul allen in sydney. more from "bloomberg technology" next. ♪ caroline: welcome back to "bloomberg technology." i am caroline hyde. the snap ipo came with a lot of fanfare. it also brought a lot of

scrutiny for snap which has been slowing user growth of late. public, not one analyst gave the company a buy rating until now. james cakmak just initiated coverage on snap with a buy rating and a $25 price target. he joins us now from new york. with me in san francisco, cory johnson. we are going to battle it out and see what the views are from james. $25 price tag. you say there is substantial execution risk but are prepared to give the benefit of the doubt at this stage. what are you giving the benefit of the doubt? what numbers do you need to see to substantiate this valuation? >> you need to see a steep trajectory in the revenue curve. threet boils down to is things. one is innovation on the camera. we have not seen that much innovation since the invention of the digital camera in 1975

aside from pixel quality. as they push on the hardware side and software side, i think they will be in a position where they can take over the camera app on your phone. the money, the holy grail, will come from premium content deals where they curate that an offer a differentiated mobile, optimized experience. with all the competing platforms, it is plug and play. i think if you have a mobile optimized and differentiated one, you can separate yourself from the pack. lastly, it boils down to incentives. if they move more to an affiliate model, the financial incentives of the content producers is going to jive better with the experience and interests the end users are looking for. when you have that balance, i for revenueajectory

per user will grow at a safety percent clip over the next couple of years -- 60% clip over the next couple of years. caroline: cory, there are a lot of needs to achieve. there are also a lot of concerns. there is a slowdown in daily active growth -- user growth. cory: i think what is going on with this company is the question is, how much revenue can the user support? it is interesting. how many ads can they support? how many as have they not put on? where are the possibilities for more inventory? can they sell the kind of inventory or our facebook and google sucking up so much of the ad dollars are online advertising that there is not room for other outlets? i think that is an unknown question. the other big issue with this company is the head-to-head competition with instagram. when instagram launched instagram stories, the dramatic

growth snapchat had seen fell off. cameras will not make up for that. they will have to sell ads for the platform to grow. it looks like instagram is preventing that from happening. we will know in the next couple of quarters whether they can grow the business or not. right now, it looks like they are in trouble. caroline: james comer respond in terms of the competition. can snap create a new model and not designed for users before the way they do for the mobile phone and create something different and make money at the same time as facebook and the like? >> i'm going to have to fundamentally disagree. cory: what? how dare you. >> what facebook is trying to do and are doing well at is direct response, trying to get the immediate conversion right then and there. it is based on hyperbolic

content and click bait. cory: fake news. >> it is a revenue sharing model. the more clicks, the more revenue the publisher and facebook generate. snapchat is trying to replicate television where you have brand dollars and affinity. you compare facebook and snapchat dollars. 40% ofevision dollars is the $600 billion ad market. they have not moved over to digital at all. why haven't they moved? because the products and expenses on mobile do not jive with the marketing goals these companies have because they are not building affinity for coca-cola three click. i think if you can create tv-like experiences with premium content which facebook is not willing to pay for, snapchat is

in a curated way, i think you are in a position where those dollars start to come in a more meaningful way. it is winning new dollars stuck in television. cory: what we have seen in technology is the big companies are much bigger than the number two players. intel is so much bigger. google is so much better than any other search engine to dream to be. facebook is so much bigger than twitter or any other social media. they are fighting over peanuts now because they do not get the network effect. you can see them slowing user growth they cannot get around. the ads might help revenues in a small way. but fundamentally, they have to change the user growth number and that has not happened. >> in fairness, user growth has only moderated in the second half of the year. instagram did slow down. time, android

pitfalls were a slight hiccup. where are the users growing? from the most affluent, dominant tier one markets in the world. facebook is growing from around the world. we can argue lower value users are coming to the platform. if that is the case where you only most affluent users in the world in the top 10 markets, 70% of the ad dollars attributed, and you can start to shift those over, you can move it in a meaningful way. here is the call. you have $400 million in revenue in 2016. if you can grow or double your users in the next three years, which is not inconceivable, and continue on a path with growth where you get to one third of , snapchat isis only 20% of twitter, you can be in a position where revenue is up 10 next in 10 years. caroline: that is the call.

i want to show you the call on a chart we have. you can login on the bloomberg. you will see how high the call price target is from james cakmak. you will see what the average consistence is on the white line. the lowest being the $10 price target on one of the 12 analyst recommendations. what if we do see some of the a fight back against the no voting rights? we are seeing that being called for in the u.k. and the u.s. >> that is a concern. it is one i cannot dismiss. that is something in the back of my mind. i think the bigger risk is on the modeling side. it is funny. i put in the report that this is not as much investing in a post-ipo stage company. we are delving into the unknown because we do not know how the

media world is going to evolve. multiple assumptions being made here, but knowing what we know about snap and their mission and the vision they outline, knowing what we know about the viruses ofand competing platforms, i think he's make the case -- you can make the case snap has the edge. on the price target, if we are , the target is not meaningful at this point. you can bend beyond that. cory: he is right. i'm totally wrong. just buy the stock. caroline: all is fair and loved -- in love and war. great to get your analysis. james cap mac and cory johnson, great to have you fighting it out. speaking of newly public companies, they are planning an ipo.

the company will sell share at about $140 per which means the company could raise more than $2 billion in the offering. tencent owns about 25% of net marble which makes games. is bringing services to china. it signed a deal to form a new joint venture called the wonder cloud company. the deal is meant to help me the demand for cloud computing in the market. it introduced blockchain services at a conference in las vegas. we will be on the ground at that conference tuesday for a sitdown with the ibm c.e.o. do not miss that conversation at 2:30 new york time, 1130 -- 11:30 on the west coast. it was a quiet day for u.s. trading. there were some standouts in tech. we will break it down for you.

this is bloomberg. ♪

caroline: a stock we are watching. alphabet falling after catching a downgrade from digital research. lowering the price target to $950 from $970. weezer says this comes as it faces brand safety issues. daybreak"" earlier. >> they need to address a zero forrie -- tolerance policy jihadist videos. this has not hit the u.s. yet. but in the u.k., it is a very big deal now. he does have global ramifications.

a quiet day for equities. there were a few standouts in the tech sector. let's bring in abigail doolittle with more. talk to us about how tech performed. there were a few standouts despite the flat day for u.s. stocks overall. >> there certainly were. it was the most quiet day of 2017. the tech-heavy nasdaq had another record high, bullish activity even in the context of quiet trading activity. behind the record, apple, amazon, and nvidia. apple being given a boost by bullish comments on the iphone 8. they also took up the price target to $155 per share. nvidia also positive comments from bank of america and merrill lynch and goldman sachs. that seems to be giving intel a boost. you and i have been talking about apple and how it appears to be overextended.

let's take a look at another chart that suggests we could see apple back. it is a five-year chart of apple. we see a nice uptrend in relation to its 200-day moving average. right now, apple is about 25% above the moving average. in 2012, apple was 27% above. it dipped sharply quickly. in 2015, it was 29% above the moving average, sideways and a dip. this might suggest apple is overextended in the near-term so there could be a pullback for apple. caroline: nice technical indicator. talk about some of the sectors within tech that did well. some chipmakers are hot. >> you are right. we saw lots of chip stocks trading higher. the chip index outperformed the broader markets quite nicely. at one point, up more than 1%.

in addition to nvidia and intel, we also saw strength out of micron i had the report on thursday. there's lots of bullish call activity. rise up more.m.c. than 6% on bullish comments. the analysts thinking there is more upside available relative to revenue. look at the one-year chart. the stock is on fire up more than 400% over the last year. a big turnaround. one point to be made. is this sector overextended? the bloomberg analyst told me recently he has a big concern about valuation. 3925. look at this is a long-term chart of the stock. the semiconductor index is approaching its 2000 highs on the extended valuation. there may be reason to think we could see a turnaround.

the question everybody is asking, what is going to be the trigger for the potential pullback so many are looking for? caroline: amazing topping the leaderboard today. we will see how long that lasts. you know the u.s. inside out. you keep a keen eye on europe and asia. any records for the tech area there? >> there are. there were a number of records today. sat hitting a record high. checkpoint security hitting a record high. both stocks are being helped by the cloud. checkpoint being helped by new demand. alibaba not hitting a new record high but up nicely on the day, close to a record high. andher side of the story, i.t. consulting firm based out of india. the bloomberg intelligence analyst told me the shares are being hit by immigration concerns. two sides to the coin on global technology.

but overall, stocks are high despite the relatively flat day in the u.s. caroline: a great roundup. thank you so much, abigail doolittle, all over everything today. a programming note. this tuesday on bloomberg television, the marriott c.e.o. will join "daybreak america." can catch that conversation at 7:45 a.m. in new york. tech giants around the globe are doing just about everything to avoid being hacked. that includes baidu. will tell you how they are combating hackers next. this is bloomberg. ♪

caroline: a story we are watching. vodafone is merging units in india with a local company called idea cellular. the move is meant to help the

carrier confront a price war in the world's second largest market. billionad a $5 write-down eddy $2 billion tax dispute. it also postponed plans for an indian ipo. with companies facing increased scrutiny, most tech giants are taking extra measures to avoid any kind of breach. baidu has revealed the mounting pressure interfaces from hackers and the steps taken to combat them. tom mackenzie has the story from beijing. head of's cybersecurity knows he has a fight on his hand. he says hackers test their differences every minute of every day. in the series case, again was put together to try to steal the prized automated driving technology. >> we definitely know someone tried to hire someone in the

underground market to steal those things from us. what's cyberattacks can come orm automated hacking bots sophisticated international gangs. responded by boosting the cybersecurity team. it is also backing what might be called ethical hackers like the blue lotus team. >> now you have taken control of my phone. they showed me how they can open up my phone. out the website. hacked i blue lotus. supporting these guys is one of the way to keep china's best i.t. mines on side. professors say there is a growing demand for ethical hackers. they probed for weaknesses that can be dangerous and report them to companies including apple and google. >> baidu has teamed up with competitors including tencent

and alibaba to go on the offensive. >> the underground industry is getting bigger and stronger. againsthelp each other the underworld industry. we are not the enemy. they are the enemy. >> the threats are expected to increase. china's tech giants are gearing up for the long haul. tom mackenzie, bloomberg, beijing. caroline: samsung is seeking to challenge apple in mobile unofficial intelligence. it will feature a digital assistant that studies user activity to offer helpful information. it will be unveiled later this digitald can activate a assistant. counting on its marquee product to reclaim its global leader in smartphones.

that is it for this edition of "bloomberg technology." on tuesday, we will be at the ibm conference in las vegas. we have a great lineup of guests including the ibm c.e.o. our producer has been busy and i have got to get on a plane. all episodes of "bloomberg technology" are now live streaming on twitter. check us out weekdays at 5:00 in new york and 2:00 in san francisco. that is all for now. this is bloomberg. ♪

♪ >> from our studios in new york city, this i"charlie rose." >> good evening evening, i'm john hockenberry filling in for charlie rose. we begin with a look at president trump's meeting with angela merkel. it was the first face-to-face meeting since trump took office. in the past, trump has been critical of her leadership. he said germany made a catastrophic mistake welcoming more than one million migrants and refugees in recent years. during today's summit, he expressed his strong support for nato but emphasized member nations must pay what they own to support the alliance. mark landler