alisa: i'm alisa parenti from washington, and you are watching "bloomberg technology." let's start with a check of your "first word news." president trump has arrived in poland where he could receive a rockstar welcome. the white house was reportedly promised a reception of cheering crowds as part of its invitation. mr. trump travels later to germany for the g20 summit. the visit to warsaw also comes before a high-profile meeting with russian president vladimir putin. there are some concerns about mr. trump's relative inexperience with global affairs ahead of his extended meeting with the former kgb spy master. u.s. u.n. ambassador nikki haley condemned north korea's icbm launch today as reckless and

irresponsible and a move that would make the world a dangerous place. the missile ended in the sea between the korean peninsula and japan. the security council has been emergency session to discuss the launch. the nypd has identify the killer of a 12-year veteran. officials say he shot the officer in an unprovoked attack this morning. global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm alisa parenti. this is bloomberg. "bloomberg technology" is next. ♪ caroline: i'm caroline hyde from

london, in for emily chang. this is "bloomberg technology." coming up, a change in ownership. we will analyze a u.s. rival's deal. plus, alibaba enters the ring as the fight to dominate the smart speaker market intensifies. how it stacks up against its rivals. just as tesla's model-3 prepares to hit the road, a speed bump for the electric car giant. while tesla's sales shifted down a gear. first, a massive deal in the digital payments ace -- payment space. this comes after j.p. morgan showed interest, but ultimately backed away from the takeover offer. they hope to gain greater exposure to e-commerce retailers and small businesses through the acquisition. for more, we are joined by bloomberg's editor at large,

cory johnson. with me for the hour as guest host is martin mignot. now, i want to kick off with cory first. give us the background of this deal. big exposure to e-commerce, bigger exposure to small business. cory: why is it based out of cincinnati for a global payments business? it is a spinoff from fifth third bank, which tells you the history of this business of payment transactions. with the way this business works, when you go into a store and you use your credit card, the credit -- they find out if you have the money in your account and come back and approve the credit or not, but there are a number of steps that happen behind the scene. that takes a different chunk.

you get the verification from the merchant, then the movement of the money between the merchant and the bank, and then the verification at the merchant side. as you go through each of these steps, there's a little bit of money taken each part of the way and it results in billions and billions of dollars. the movement of commerce has gone from physical stores to online. the payment infrastructure and the companies servicing those businesses have changed as well. that's why you see vantiv making this move. they want to take advantage of the things happening online because they've done so well already off-line. caroline: let's talk to a man who knows about the online presence. is it all about the graduation of payments to online to on the channel as well -- to omnichannel as well? martin: it's a big part of the story. it's a big market, still growing very fast.

i think the worldpay is very well exposed to online. they were the first payment processor for e-commerce in the u.k. in 1994. it's very much part of their dna. they have a global presence in europe and in asia. i think that's part of the story that is attractive to vantiv, which has been mostly focused on more traditional, brick and mortar retailers, which have been under attack against online players. it is a trend we have seen in some of our companies, the main one being a company based in holland, but with a very global footprint, which is very much playing on the same strengths of a new infrastructure stack, a global footprint, and offering an omnichannel offering. i think that's been very important.

caroline: cory, interesting that this is the key move. what about other m&a in this sector? it has been hot. interestingly, it wasn't the only suitor to begin with. jpmorgan was looking in, but perhaps backed away. cory: there have been a number of acquisitions in this area over the last few years, where you've seen the traditional companies that have had such great business want to have more exposure to e-commerce. you saw heartland payment acquired. you saw the deal today for nearly $10 billion. there is a play here. let's not forget the very specific action amazon took in going after whole foods, if that acquisition is to come through. vantiv shares dropped on that acquisition. all foods uses vantiv to process their payments.

although they are not mentioned in the annual report of vantiv, you saw shares drop about 4% on the day of that deal. what if amazon says, we will stick with our existing payment structure, get rid of vantiv, and use our payments processor, which is none other than jpmorgan? it is a competitive space here. you can see that with the m&a going on, with the old-line payment and processing companies trying to buy the new-line companies. also, the new-line e-commerce companies are kingmakers, particularly amazon. caroline interesting. : we saw another deal in europe. a danish company -- payments company saying it was being i'd -- eyed by american vc's at the moment. is it your view that m&a might be the exit route?

cory: i think -- martin: i think we would like these companies to brazil -- fulfill their potential. they can become public and ipo at some point. some of them have a very large footprint. they don't really need a backer to grow all the way. that's been the pitch from the get-go. that's very much what we are focusing on. caroline: we will see who jpmorgan eyes up next. brilliant reporting, as ever, from bloomberg's cory johnson. martin will be sticking with me. in today's revolving door, the ericsson chairman agreed to step down in 2018 after seven years on the job, completing an overhaul of top management at the embattled company. the company is in the midst of a transportation -- transformation, refocusing on ericsson's core business, selling network equipment -- networking equivalent and

pulling back in former areas of expansion. coming up, more tech employees are speaking out against sexual harassment. how tech firms and startups are planning to combat this. and "bloomberg technology" is live streaming on twitter, weekdays at 5:00 p.m. in new york, 10:00 p.m. in london. this is bloomberg. ♪

caroline: now, a story we are watching. amazon will create 1500 new full-time jobs at its salt lake city center. it will allow workers to pick, pack, and ship smaller customer items. this is amazon's first facility in utah. now, stories of sexual

harassment within the tech industry continue to come out. vc firms and tech startups have been rocked by numerous sexual misconduct allegations, resulting in several resignations from tech investors, with the latest one coming just this week. as the industry moves to grapple with harassment -- as the industry's moved to grapple with harassment danes momentum, questions -- gains momentum, questions remain. joining me, joe nocera, who wrote about his column -- about this in his column today. still with me, guest host martin mignot. it's pervasive and ingrained is what you wrote in your story, and the tide is now turning as men start to lose their jobs. but just how pervasive was it, is it, and why is it -- the tide now turning? joe: it is so pervasive.

there are studies out there that show that 60% of the women who were polled said that they had had to deal with some form of fact -- sexual harassment. i would say that's pretty darn pervasive. it's really gone on for years, because the power imbalance between a venture capitalist who has money and a female founder who desperately needs money is immense. it's as powerful as a ceo and underling. so, it's really only recently, especially after susan fowler wrote that incredible blog post about her year at uber, which launched, really, the decline and fall of travis kalanick, the ceo, that women have started to come out and not talk in vague generalities, but use their names, so they are on the record, and named the people who

harassed them, the men who harassed them. it has been an explosion over the last two weeks in silicon valley over this, and jobs have been lost. there are going to be more explosions because women are going to keep talking about this and more names are going to come out and more jobs are going to be lost. caroline: i'm fascinated with whether this is something that has been talked about in europe much. i've been in silicon valley for a few months, but it doesn't feel like we are going to get the explosions here that you are seeing in silicon valley. am i entirely wrong? martin: i'm afraid you are wrong. i think the imbalance of power that joe mentioned, between the fact that there are way more men than women, especially in the vc industry, but in the tech industry as a whole, is as true in europe as in the u.s. the issue of the imbalance of power, i'm afraid, is going to be the same here as well. caroline: you think, therefore -- is it jobs that need to be

lost here in europe and in asia to start to see the harassment start to come away, but also the dissemination and the diversity start -- the discrimination and the diversity to start to even out? martin: what's been happening the past few weeks and months has been a call to arms for the industry. we've seen a lot of unacceptable behaviors. mary brave behavior from the women who are speaking up. i think it's been -- very brave behavior from the women who are speaking up. i think it's been a very good thing. we do have four female investors as part of our 20-person investor team, which is not terrible, but we should do much better. and we don't have female partners, which i think is not really a good thing. we really need to make it a priority to expand the female partnership at our firm.

we are taking that really seriously. caroline: joe, your piece is fascinating. it does take brave women to come out and speak against tech giants such as uber, to take on the likes of binary 500 startups. but we've also seen it affect other industries. maybe we start to see harassment decline, but it do we see diverse city pick up as well -- but do we see diversity pick up as well? joe: in a weird way, the harassment is the problem to solve, because it is such an offense. if you make the consequence you're going to lose your job and your reputation, men will stop doing it. that's what the other industries show. gender bias, getting women on board, getting more women

founders -- that is much more difficult, although i will say i do think one of the reasons that all this is coming out now is because there are a lot more women founders than there were in the past. there is an increasing number of women who want to get into technology. i think it's their frustration that is driving some of this -- these exposes and could lead to big change. caroline: fascinating from joe. martin, there's interesting news going on in europe. we have a female-founded company, set up by females themselves. we have diversity vc, which is focused on shining a light on how little they were city there is in the vc -- how little diversity there is in the vc community. what else can be done to ensure that we get over this disgusting

hurdle that is going on in the industry? martin: we need to start with us. we need to act on what we can really control. for us, it means making sure we open up and look at the broader range of candidates. if we only look at our personal network, which because we are more male around the table, it may be more male-oriented as well. i think that's a critical piece. we've been doing that for the past -- from the beginning of the firm, but we really emphasized that in the past five years, passed 10 years -- past 10 years, but we need to do more. more systematically, one of the issues related to that is, if you look at -- women with a computer science degree, the percentage has decreased since the 1980's. that is something that needs to be addressed as well, well

before people decide to go with a vc. that's an issue with the pipeline. caroline: we hope more entrepreneurs come through as well. martin will be sticking with me. bloomberg view economist joe nocera, who has written business columns for "the new york times." wonderful to have you with us. coming up, earlier, baidu held a conference focusing on its ai ambitions. who is in the driver's seat? we will bring that to you next. a feature we want to bring to your attention, at tv on the bloomberg. you can watch us live. you can send our producers a message. play along with the charts we bring you on-air. this is for bloomberg subscribers only. this is bloomberg. ♪

caroline: two more airlines say they have now been exempted from the u.s. ban on laptops in airplane cabins. emirates and turkish airlines satisfied american concerns about security. the u.s. band laptops -- banned laptops because it was feared they could contain explosives. news out of china. on wednesday, search engine giant baidu held a conference focusing on its artificial intelligence ambitions. all tech companies are desperate to get into it before it's too late. baidu is out to prove they are a serious contender in the ai world. joining us, selina wang. still with us, guest host martin mignot. selina, what was unveiled today? it seems to be about driverless cars, rather than voice recognition. selina: this is baidu's inaugural artificial intelligence conference. it was supposed to be a chance

for them to show off their technology, new developments in ai, and really get the artificial intelligence community excited and ready to work with baidu. the big news from today was that they unveiled more than 50 partnerships with folks across the board for driverless cars. these players included ford, big suppliers like bosch, ride-hailing services like grab. baidu basically saying, we want to be the android of the driverless ecosystem. we want to be the open software platform and work with all the other game changing players to make our technology as good as possible and beat out our rivals. caroline: martin, talk to us about the driverless car ecosystem. going in on a partnership strategy to compete with waymo and uber. martin: i think they are playing catch-up. waymo started way before everyone else. they have about 3 million miles on public roads with very low currencies of human drivers --

occurrences of human drivers having to take back the wheel. the other tech players are playing catch-up now. caroline: selina, where do we start? the partnership seems to be a savvy way that baidu is dealing with it. it is quite a short timeline in which they want to get all these cars on the road. can they achieve it? selina: martin made a really good point. by do is playing catch-up -- baidu is playing catch-up. they are behind waymo. the caveat to these partnerships, while it is smart and the best way forward for them, this likely -- these likely are not exclusive partnerships. for these partners, it is in their best interest to be with as many different driverless car providers as possible, just because it is still so early. we don't know exactly who is going to win. but you are right. they want to have the driverless car on the road by 2018, mass

production just a few years after that, so they need to do everything possible to get to those timelines, especially as their core business is struggling. so, they have a lot to prove. caroline: martin, as a vc, how are you looking at this space? are you looking to give funding? are these companies already larger than the ones that are really going to make an impact? martin: it has been i would say by far the hottest area of startups and investment in the past 12 months, 18 months. we've seen startups coming -- picking up every little part of the slack, whether it's hardware, radar, sensors on the car, software. or mapping, even some battery technology. we've seen a bit of everything. we've seen the space moving a lot. there are some players going for

the partnerships, others going more integrated in-house development, like waymo. we have been focusing more on services around the car, the intelligent car, with investments like a multi-model, data focused service to help people navigate around the city or helping passengers navigate from city to city with a ridesharing model. those are the types of services we have been focusing on. we'll be able at some point to leverage, we hope, the self driving car when it gets ready and potentially commoditized. caroline: thank you very much. insight from martin mignot and great reporting as ever from "bloomberg technology's" selina wang. sticking with ai. alibaba is out with a new smart speaker to compete with the likes of amazon and google. who else is in the race to own your home? we will discuss next.

this is bloomberg. ♪

>> it's 11:29 a.m. in hong kong and 12:29 p.m. in tokyo. i'm paul allen with the latest first word news. yum china shares fell in trading after second-quarter sales disappointed at pizza hut. same-store sales were flat, falling short of estimates of 1.5 percent growth. revenue of $1.6 billion was just below forecast. it's making progress in key themes such as loyalty programs digital ordering. the chinese central bank says it plans to remain on the path of what it calls prudent and neutral monetary policy through

2017. the government says policymakers will be attaching more importance to advancing financial risk. he also said the pboc plans to keep liquidity basic stable as well as maintaining the yuan exchange rate at equilibrium levels. iran is calling on richer nations to address trade relations. theking ahead of the g-20, fund said countries with account surpluses should use policies to boost investment demand. those with deficits such as the u.s. and you can't ought to tighten their fiscal belts. >> little to cheer in the asian equity sessions with the benchmark on par 4 a third

weekly drop. petrochina was downgraded by bernstein in light of its lower old press forecast, and oil was put to a halt over its biggest loss in four weeks. it was the best asian currency in the first half of 2017, but traders unraveling forecasting $31 by year and a just around it earlier, a key support line that a broken could spur another pullback. with the low volatility that has been plaguing the markets, you can see there has been a of the upper band in

yellow with the lower band in green and 20-band moving average. this is a sign of future volatility. ♪ caroline: this is "bloomberg technology." i'm caroline hyde. the competition in digital speaker assistants is getting more intense. alibaba has unveiled an amazon echo-like device. tencent and samsung each prepared to deliver their own -- develop their own ai-powered speaker. with more, mark gurman and our guest host for the hour, martin mignot. talk us through what we have being unveiled from alibaba. mark: the interesting thing is,

only for the first trial, 1000 orders. i'm curious to see how high the price goes once they pass that or if there are even going to be more than 1000 people rushing to buy it. i will assume there are, given how big -- i will assume there will be, given how big alibaba's spread is across asia. 2017 has become the year of the digital speaker. caroline: everyone wants in. how does it compare therefore with the landscape? why are we seeing the drive to own the home at the moment? what do these companies want within their ecosystem? mark: you saw amazon and google jump in with updates to the ecco line -- echo line, lots of new alexa devices. the echo show, the echo look, part of the same family. it's more of a style guide or your wardrobe. apple last month announced the homepod for $350.

now you have all these players in china from tencent, alibaba, samsung trying to jump in. the homepod takes advantage of apple music and siri and homekit and apple's home-based services and other streaming services, where they are trying to make the bulk of their money in the future as hardware sales slow down in some categories. people really want smart speaker's. you see the demand for alexa. if apple does not create their own or these other players don't create their own, people start buying the amazon product. they really like alexa. they say, hey, maybe i should get some more amazon products, prime music, crime video -- prime video. we are starting to see people want to use those devices.

if they don't create their own, they risk losing other product lines to other companies. caroline: let's get a vc take now. martin, when you see this rush for ai -- you were saying how driverless cars are the hottest thing over the last 12 months. is ai the hottest investment, too? is there enough talent to go around, -- let alone enough money? martin: we do have a lot of startups going after that space on the driverless car. on the smart speaker side, we haven't really seen anyone. very few startups building on top of the alexa. we haven't really seen any startups going after that. i'm a little bit skeptical on that part of the home. we have not seen the ecosystem of developers going after them. even as a user or a potential investor, i would be asking what is the retention. what is the engagement? i've had one for six months and it is basically catching dust on

that -- in the cupboard. caroline: mine is a timer. martin: i'm a little bit skeptical because of that. the pure voice interface is a little too simplistic. you don't have feedback of what it understands, what it can actually do. that's the reason why they've been adding screens. if you have a screen and a speaker, it's just an ipad that doesn't move. i believe voice can complement other things and interface, but this simple voice interface -- skip those. caroline: mark, you go to the app developer conferences for the likes of facebook, apple. are they just not managing to entice enough developers on board? why are we not getting the fleet of startups feeding this ecosystem that perhaps martin would have expected? mark: that's a very good question, very interesting.

apple, their siri voice platform is not open to developers, where one startup can make a speaker device, put siri on top of it and add their own flavor. but microsoft with cortana and amazon with alexa have recently started offering their voice service to be used on other startups' devices. harmon kardon is coming out with a device. it will take time to penetrate. the bigger story here is the services that go with these voice-activated systems. what kind of music do you want to subscribe to? what kind of video platform are you going to subscribe to? it's about keeping players to their customers, sticking them together in those ecosystems. the last thing that apple wants his people to use their iphone and an alexa speaker and a windows -- wants is people to use their iphone and an alexa speaker and a windows pc.

the speaker is just one component. caroline: get addicted -- that seems to be the advice. mark, always great analysis from you. martin mignot raising some really valid and interesting points. now to a story that is out of this world. after more than 2 1/2 years, richard branson's virginie galactic is poised to -- resume powered test flights. branson plans to make a trip by mid-2018. full passenger operations should start by the end of 2018. the update is the most detailed since the crash of their original spaceship 2. analysts voiced concern over demand for tesla's model-3. what does elon musk have to say? we talked to the man who wrote the book on elon.

this is bloomberg. ♪

caroline: tesla shares tumbled over seven cents in wednesday's trade. analysts have concerns. goldman sachs and keybanc capital markets said that high demand may hit a plateau. earlier, i spoke with bloomberg technology's ashlee vance, who wrote the book on elon musk. ashlee: we can look at the s and x sales, but the model-3 remains this maker big product -- this make or break product for tesla. over the weekend, we heard from elon they will ship about 30 model-3's this month. the good news is this car is arriving much earlier than tesla products tend to arrive.

it's almost on time. the bad news, of course, is that they are talking about kind of hand making 30 cars, and this is definitely not mass production like we are used to seeing from other automakers. but, really, over the next year, two years, it's how the model-3 sells that will define tesla. if you are an investor of the company, the only way to share price makes any sense right now is if the model-3 -- the only way the share price makes any sense right now is if the model-3 does well. caroline: the selloff we saw today -- that seems to be digesting those numbers we got late monday, prior to the u.s. holiday, coming from model s, model x sales, and they did seem to disappoint. is there an issue that potentially there is a plateau going on? ashlee: a little bit.

tesla seems to blame the lackluster sales on trouble getting a battery pack. there has been concern that has been haunting the company forever. how many rich people are there that can buy a car that really starts at about $100,000 after you start a clipping it with a few things -- start equipping it with a few things? i've been amazed to see how many are out there in silicon valley. there's more wealthy people here than i ever imagined. the same in los angeles. you wonder how this plays out globally. maybe, finally, that car is starting to stall a little bit. that's where they make their much higher margins than they will make on the model-3, so it's a problem is that stalls out. caroline: if the model-3 eats into demand, do you think people would rather go for the $35,000

car that still has the tesla finesse or would they still rather go for the luxury s and x? ashlee: the model-3 is a problem. you can buy into the tesla story or elon's story and still get this amazing gadget. elon's been pushing very hard for people to realize the model s and model x, these are luxury, high-end vehicles. he wants those sales to keep going. but i think there's no question that these early adopters, just people who are into technology and want to get into tesla, the model 3 is going to be the obvious way to go. certainly, it is not just a sort of eased-down version of the model s. its much lower and -- it's much lower-end. it's going to convince people of that. caroline: what will it must be doing -- what will elon musk be doing? he is a man to takes to twitter.

maybe that is his way of speaking to the masses. how will he be trying to negotiate these, pardon the pun, bumps in the road? will he be going out fighting? ashlee: he is relentless about these things. part of it is just the shine. the model x and the model s have become a status symbol of sorts, and so, that, i think, will carry on. it will be -- there will be people who want to buy the best thing that tesla is selling. elon will have huge events for the model 3. we see him on twitter all the time, talking about, yes, we have this car coming, but still think about the model s and the model x. elon is religious about this stuff, and he has this gift -- elon is relentless about this stuff, and he has this gift that others don't have, this free advertising on twitter that is very powerful. caroline: do you think they can push forward and meet these very lofty expectations that are currently being baked in to the

share price? ashlee: in my gut, no. tesla has struggled with manufacturing for years. if we know anything, it's that the shipment numbers almost definitely will come in under what the company is having us think about. i think with the share price, though, this can't be based on just a six-month thing. how many model 3's do we ship through the end of the year? it's a one-year, two-year story. if they can make them at high quality, then the tesla story gets very good. if they struggle over a long period of time, it's a huge issue, because all their competitors are coming with electric cars. their quality is very high. every month that ticks by is at tesla's this advantage. -- tesla's disadvantage. caroline: elon remains number one shareholder in tesla.

he's got more than 20% of the company. he's clearly got skin in the game. do the investor base, those sitting around in silicon valley, worry about the fact that he has so many other distractions, looking at spacex one day, looking at another the next? ashlee: i think people worry about this, but, if we've seen anything over time, it's that the companies seem to be getting better at delivering on all the things that elon promises. he seems to have much more credibility than he did, say, eight years ago when the companies were really struggling. you look at this guy and you're like, there's no way he can possibly do all this stuff, yet he actually seems to be getting better at it. spacex has really hit its stride. if tesla can get the model 3 out, it buys elon a lot of cred and it would be a remarkable achievement. caroline: that was "bloomberg

technology's" ashlee vance. staying with vehicles, all of volvo's new models will have an electric motor starting in 2019. they will offer both hybrid vehicles and those that are fully electric. they say the policy reflects the wishes of customers. amazon's proposed deal with whole foods could be a game changer for food delivery startups. what's next in the space? this is bloomberg. ♪

caroline: now, a big milestone for lyft. it has announced it is now providing over one million rides per day. the company says its service, which is only available in the united states, has spread to cover 80% of the u.s. population. the announcement highlights the company's growth and momentum as it continues to battle with uber, note it does have a way -- though it does have a way to

catch up. uber reaching 5 billion cumulative rights worldwide -- rides worldwide. amazon's acquisition of whole foods is peaking interest -- has piqued the interest of other companies. still with us is martin mignot. index ventures is an investor in -- going back to 2015, you wrote a piece saying the $1 billion food delivery wars would eat into the dominance of traditional grocery retailers. it's happening now. how much further has it got to go? are we hitting saturation point? martin: i think it's the beginning. i'm surprised it's taken so long for traditional retailers to enter the space, to start

realizing that they have to do something. i think it's really taken a long time for some really well-capitalized, cash-rich companies to really move, but i think it's just the beginning. food penetration in the u.s. is close to 1% or 2%. it's a bit closer to 5% in the u.k. on average for the rest of the retail industry, it's close to 25%. food is much harder to deliver. it's fresh. logistics are compensated. i think -- are complicated. i think there is still a way to go. i would be focusing more on the takeaway market, which i think will eat in the grocery market -- eat into the grocery market. eventually, cooking may go the way of --

caroline: even though we love reading about food and watching it on television? martin: i think it will be really nice for some people, but people -- it takes a lot of time that a lot of people may want to spend on something else, playing with their kids, learning new things, reading, playing games, whatever it could be. they are outsourcing the process of cooking the food. that will take a larger and larger share of the household spend. caroline: how does the whole foods/amazon deal impact the likes of that which you are invested in? it clearly impacted blue apron and its price when it came from an ipo. does it not compete in quite the same way? martin: i think they don't really today compete, but i think they will over time. the shift is only going to go one way. people will want more and more convenience, more and more of their work being done by other people.

more free time. that's what companies like this are doing so well. people want more of that. the price point is still a bit too high. a big driver is reducing the cost of food. caroline: how do they do that? martin: how they do it -- the main way is going to be around owning their own infrastructure. this is this network of container kitchens. now it is a professional kitchen in normal buildings as well. you have this livery-only restaurant -- this delivery-only restaurant. if you want to open a restaurant on high street in u.k., it will cost a lot. the bar is really high. that goes into the price of

food. if you don't have those very high entry costs and rent, then you can start offering food for a much lower price point, then you open up the market massively and start eating away at the grocery markets. caroline: fascinating discussion. i wish it could go on much longer. it's been wonderful having you here. martin mignot, my guest host for the hour. that does it for this edition of "bloomberg technology." we will be back in london for thursday's show, and we will be joined by a guest for the hour. bloomberg technology is live streaming on twitter. check us out at 5:00 p.m. in new york, 10:00 p.m. right here in the city of london. that's all for now. this is bloomberg. ♪ whoooo.

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