♪ best, theon bloomberg stories that shape the week in business around the world. ceos turn on president trump who lashes back. >> ceos are going to be reluctant to get too close to trump. who knows when the next outburst to get this was not enough you to withdraw, what would be echo -- be? from europe and japan surprised the city upside. -- figuring out central-bank

minutes. >> financial conditions have tightened a little bit. >> era consistence -- there is a consensus among the fed -- >> the risk of nuclear war. >> it is not good for democracy. >> we have been waiting for the chinese to explore the world. >> that's not the biggest risk out there. if we zoom out and look at the big picture, this was a good report from walmart. --monetizing that user base, >> all straight ahead on bloomberg best. ♪ >> hello and welcome.

i am anna edwards. mostweekly review of the important business news, analysis, and interviews from bloomberg television around the world. the week began in an atmosphere of turmoil following days of heated rhetoric over north korea's nuclear ambitions and violent protests in the united states. monday dawned with positive economic data from japan. gdp expanded at its itsest rate in two years in second quarter, extending this long. of expansion -- this long period of expansion. is a decisives orfirmation of final long-lasting transition away from relying solely on external demand and a transition that i more sustainable to

domestic demand. people forget that consumption and -- make up over two thirds of japanese gdp. it is critical that this larger part of the economy gain some traction. ♪ >> a shakeup for washington and wall street this morning. ken frazier resigns from president trump's campaign -- committee of manufacturing leaders. -- run counter to the american ideal that all people are created equal. president trump fired back right away on twitter, saying that now that he has resigned, he will have more time to lower ripoff drug prices. >> president trump has come under increasing criticism over the ways he has handled protests in charlottesville. kevin plank is, in fact, leaving the council. the intel ceo has become the

latest business leader to abandon president trump's council of business leaders. dividedthat the political climate is the reason he is quitting. a fourth business leader resigning from the manufacturing counsel. scott paul is a president for the alliance for american manufacturing, which makes it all the more interesting. i'm resigning because it is the right thing to do, he says. president trump has responded -- for every ceo has dropped out, i have many to take their place. grand standards should not have gone on. ceos are looking at the in havingisk communications with president trump and have arrived at the conclusion that it is better for business to not be on the council. >> some of them will leave --

they are leaving out of embarrassment, because they make their products outside, and i have been lecturing them. i want what i want -- manufacturing to be back into the united states, so that american workers can benefit. >> president donald trump saying he is this banding two advisory groups of business leaders. , heer than putting pressure says he is ending both. afternouncement comes several ceos quit this week following blow back over his remarks about violence in virginia. >> donald trump, not unfamiliar with divorce, just divorced big business today. at least he didn't have to do it in a courtroom. for an administration that heralded its relationship with business at the beginning, it is striking how he is basically saying it is over, that the

romance with big business is done. >> i think the biggest -- i would put it under the category of credibility. he said he wanted to hear from these folks, then made it essentially impossible for them to stay on an associate themselves with some of the comments he made. i think ceos will be reluctant to get too close to trump, because who knows when the next outburst will be. >> president trump does not want a fresh coat of paint on the north american free trade agreement, he wants to strip the house down to its starts. that was the main takeaway. >> i want to be clear that he is not interested in a mere tweaking of provisions and updated chapters. >> the united states came out swinging, whereas canada and mexico took a different approach, more conciliatory. set the scene for us. >> i don't think anyone is

surprised with the bluster and rhetoric, i think that was anticipated going into this meeting. the question is -- is the value of bluster in washington today, what is it? i think there is some consolation on the canadian side, and maybe the mexican side, that cooler heads will prevail in the talks. yes, there was plenty of rhetoric, but there is still a lot of optimism that things can get done. moments ago, we got the minutes from the fed's july meeting. september is in play for a balance sheet announcement, though no specific timesheet was mentioned. the inflation debate is deepening, with officials expecting inflation to pick up in the next two years. officials say the scope of rate hike patients --

others cautioned that a delay could lead to an overshoot. ,> one thing that caught my eye that they would get back to 2% over the course of a few years -- they have not use that length of time in the past. there is a consensus in the fed that says that if we see a sign of things going back to normal, we will hike. it doesn't mean we go back to 2%, but there may be enough to tell us this was idiosyncratic. terrorstory of the day a attack in barcelona, where police are reporting 13 people have died and over 50 are injured in barcelona's iconic las ramblas area. >> a vehicle drove down las ramblas at a quick speed, 80 zigzagers per hour, and

into the crowd. the driver jumped out and ran away and is still at large. second-worst0's drop of the year. rumors that gary cohn will be resigning as president trump's top advisor. >>hours after the van attack in barcelona, spanish police say they have killed perpetrators. a coastal town 120 kilometers away. you saw a quick and effective reaction by the spanish authorities to the attacks that happened in barcelona and temporal -- and cambril. is, are wequestion creating a hostile environment for the ideology of groups like isis? the reaction on the law enforcement side and by the police has been quick. there has been a slower reaction in our ability to stop recruitment from happening. that is where we must turn our

attention. white house chief strategist steve bannon is out. ,he chief of staff, john kelly and steve bannon, have mutually agreed that today would be his last day. steve bannon is out. what is the aftermath? a huge win for john kelly, the new chief of staff. everyone who was watching to see if this four star marine general can impose order on the white steve-- for him to ease bannon aside, i think the markets will view that as a chance of more stability in the white house. policy,rms of changing i think we tend to overstate what this means for donald trump and his policymaking. he thinks like steve bannon, they echo each other. bannon hassteve access to a telephone, they are

going to talk all the time. ultimately, this probably won't have a lot of effect on policymaking itself. i think it signals a greater discipline on the part of the chief of staff, that he has been able to impose on the white house. he has not shown an ability to do that with the president. that is the key thing. >> much more on the strained relationship between donald trump and the business community. we find opinions from larry summers. exclusive insights into airbnb plans for china and earning reports from walmart, cisco, and others. shoppers can get just about anything they want from amazon, and now in texas, they can get bonds. costetty compelling from a of capital standpoint. ♪

♪ best, let'sloomberg continue our global sort of the world's top business stories. a presidential order in washington that could have serious repercussions in beijing. is set tont trump take on china. he will sign a memo directing u.s. trade representative, robert lighthizer, to consider launching a formal investigation into china's a legend death of intellectual property -- alleged theft of intellectual property. property, soal vital to our security and prosperity. towe are still a long way the trade war that we thought we'd have at the start of the year. another play in the larger

geopolitical jigsaw going on around north korea. president trump is using -- trade as a stake. k. as a stic when youis a grievance listen to chambers of commerce, around the world, we are a long way from the trade war. the u.k. government published the first in a series of brexit papers aimed at smoothing its divorce from the eu. the u.k. request being met with some resistance as the eu says frictionless trade is not possible outside of a single market. no cherry picking. possibilities -- one is a streamlined system, where -- smooth and

frictionless as possible. or exports coming and imports bying in to the eu, treated , according to u.k. rules, and vice versa. it is slightly complicated, not clear how it would work in practice. it would mean that customs officials would have to deal with two different systems. companies -- $108 billion of bonds, with at&t -- one to $2.6 billion. -- pay for its acquisition of whole foods, set to include a 40 year security with a yield. tesla came to market as amazon comes to market.

these are companies with really strong valuations in the equity market, and i wonder why they are choosing to come to the debt market instead of raising equity. why is that? >> i think a lot of these guys are nervous about diluting their shareholders, because shares are such a big part of the compensation package, which helped save cash flow. that is obviously an important thing. still, the shares are a big part of the compensation package. if you are able to fund long , and get a tax reduction on top of that, it is compelling from a cost of capital standpoint. >> more signs of life for the european economy. .dp increasing overall by 0.6% what is your take away? >> i think the interesting thing is it has shown a broad-based

recovery. the brett has been -- the interesting.een italy was strong, netherlands was strong, germany was strong yesterday. from a gold perspective, the breadth will -- they will wanted to be reflected in inflation and wages. the growth of dynamic we are seeing, it will give the ecb some encouragement that this will feed into higher wages. mcdonald's is super sizing its presence in china, planning to open 2000 new mainland stores. i know there is a vision, 2000to plan here, opening more stores in five years. why such an ambitious plan? china is a large country, and

if you look at our competitor, they already have 5000 kfc stores in china. we know that mcdonald's is the number one plan around the world , but in terms of store numbers -- is a distant second. we know there is a lot of room to grow. said to be considering charging clients $40,000 a year for access to basic equity research, according to people with -- it requires money managers to separate the trading commissions they make from investment research fees. >how much do these numbers mean, because we're not just talking about all in price. >> it feels like the banks are

testing the waters. we are five months out, some of this information is leaking out, and people are testing to see what the market will bear. we won't really know what it will bear until this is in effect, and clients see what they are getting for this money. think you are seeing a bit of a range. it also feels like some of these banks may be putting out prices to see if they can gain some market share. this is going to be a different competitive landscape for them. there --b brings out the ecb officials expressed concern about the euro overshooting. if you wanted a message for the fx market, this is the most explicit reference yet to the euro. much so. moderately strong words, brought

up as draghi alluded to it in his press conference. this is a little more explicit. --has been confirmed financial conditions have tightened up a little bit over recent weeks, or in the run-up to the meeting. that is something that will likely be weighing on policymakers' minds. they may or may not decide what to do with tapering, or they may put that -- plunging as much as 6% after the ceo quit. what do we know? >> this comes as a surprise. he had been installed to help infosys make progress in adapting to changes in the industry. it had been more challenging for its peers in the industry. he has been in a dispute with the founders, bickering about a number of issues, including his

pay, the fact that he spends most of his time in palo alto instead of india. he has been seen as an experienced, steady hand, trying to guide the company out of these troubled times. ♪

>> welcome back to bloomberg best. the collapse and ultimate this banding of white house advisory groups was one of this week's most rheumatic stories. larry summers applauded ceos who chose to resign. as he went a step further in an interview with bloomberg television's david westin. let's talk about gary cohn

for a minute, or for that matter, steve mnuchin. cohn was very dissatisfied as he stood next to the president yesterday. given what you know, should gary cohn resign? i'm not asking will be, but should he? ceos leaving his counsel would affect the president, gary cohn would have a more powerful effect. >> if i was working for the president of the united states, who equated those marching for civil rights with white hademacists, some of whom passed connections to the american nazi party, i would resign that day. now, that is my moral calculus. i can't walk in another man's shoes, make the judgments of effectiveness, of ambition, the judgments of prudence that others have to make.

i'm not going to prescribe for gary cohn or any other particular official. what i would say is that i find disturbing that there have been no resignations of principle from the political appointees in this administration. i am someone who is worried of identitycesses politics. i'm someone who has scars to the importance of being supportive of the business community in democratic administrations. there are some places where you have to draw a line, and i guess who havesk the ceos and i wouldmain,

ask the officials in the administration -- not the ones in the national security area, who have a huge obligation to maintain sanity in our policy -- but the political, kim indications, legislative ones. i would ask them to think about the question -- political, communications, legislative ones. is your indication that you would stay close to the flame of power in a happens? what would it take, what line would have to be crossed for you to step away? anna: coming up, more of this week's most compelling conversations. if you are concerned about chinese debt, the imf -- rob while puts it in perspective.

if you are worried about the threat of nuclear war, you may be reassured by nasty and talent -- by nassim taleb. ♪

♪ >> meal kit service companies, are they competition to fine casual dining? especially if amazon gets in on the game, as well? >> the great thing about the food sector, is that it is something that you are going to do, at least two or three times a day, no matter what and you are going to do it for the rest of your life, two or three times a day. in my case, sometimes five or six times a day. so it is a great time to be in, a great category to be in, and because people are so interested in food right now, rather than having the choice i had growing up which was the one to eat at home, which always went shopping

for food in your supermarket and cooking from scratch, today, there are 10,000 ways you could eat at home. it is not just pizza and chinese food delivery, you could get a meal kit where someone did the chopping for you, ships it by mail, kind of like color-by-numbers. i know there is a fair number of people who would like to dine that way. i don't do it that way because i like shopping for food and i like cookbooks, but i think it is probably here to stay. anna: that was danny meyer, founder and ceo of union square hospitality group discussing the disruption in the dining business, this week with bloomberg television's scarlet fu. now, elections in germany kicked off this week with angela merkel seeking a fourth term as chancellor. guy johnson spoke with a board member of the opposition party about the core issues that germans will be voting on.

♪ guy: what is this election about, what is it that germany is deciding upon? >> i think we have to see that the german situation is very good. we have the highest numbers of employed people in the history of our country. we have the developing of

wealth, we have developing of a great situation in our country and our refugee question is under control. therefore, i think people think in this time of disarray in the world, a quiet leader like angela merkel with all of her experience would be the right person to lead our country for the next four years. guy: is that stability the product of the grand coalition? and therefore, would germans be happy to see another grand coalition taking place or does that stability let them bring that liberals back or generate another sort of outcome when it comes to the coalition that could be formed subsequently to this election? elmar: i think the stability is combined with mrs. merkel, i think germans do not want to have a grand coalition again, it is not good for democracy. two big parties leading together. therefore, i think they would prefer that the coalition of democrats with the green or the liberals are both together. that would be better for all democracy and i think the figures will show that, but we do not know the figures about that. it might be a very small margin at the moment. therefore, no one can estimate what will be the result. anna: there was also plenty of conversation about china this week. let's visit three exclusive interviews. on tuesday, the imf raised its growth outlook for china report warnede about rising debt.

jonathan ferro asked the imf deputy director about the nation's daunting debt load. ♪ >> what is your advice to china at the moment? what do they need to get done by 2022 to ensure the number is not going to be a huge problem for the stability of their economy? >> yeah, we have seen the senior leadership in china come together already and decide and define financial stability and the building risks in the financial sector as a matter of concern of national importance. i think that is the first thing. they have also taken the first steps in reining in credit growth, we have seen a major tightening of financial supervision. the economy is quite strong right now and i think we need to see two things. when is, we need tightening of financial conditions, supervision to be sustained, not just for a few months but for a few years. in the face of a slowdown of course as a result, in the face of some credit event, as a result of the tightening, to keep going despite it becoming more and more difficult is one thing, but the second and more important thing is that china has to find new sources of growth that can bring the economy back, but in a new way, not from public investment and debt creation but from private sector growth. that is a huge agenda we have

also outlined in the report, of giving more access to private investment, domestic and abroad in many domestic areas of the economy which are still very restrict if and state-controlled. >> what is your strategy in asia? how important is asia to airbnb? >> intra-asia travel is a big thing. we have been in a number of countries, singapore, australia, we are ubiquitous and most well-known known in those countries by the populations. we have been investing a lot to china lately. chinese travelers are going all around the world and they are the fastest-growing segment and number one spenders in international travel.

we are running a big campaign right now. a lot of our growth in singapore and elsewhere is a result of chinese travelers using airbnb to explore the world. >> expedia merging with another company, today has over 450,000 listings and growing. you have been competing with more players. >> there is local competition in china, focused on domestic travel. our focus has been on international travel. we have been marketing airbnb for a way for the chinese to explore the world and we have over a million homes in 21 in 191llion homes countries. none of the local companies and china have that. we have made sure to play to our strengths and not to engage in any direct competition. >> a lot of chinese companies have obviously in the last few years, rushed to buy overseas brands and overseas assets, maybe getting around some of the capital controls that were in place.

do you have such ambitions? do you want to use this time when your stock price is at or near a record high? do you use that to buy overseas brands? >> anta mainly focuses on the chinese market. we have been actively looking for good opportunities overseas, but we will only consider mergers and acquisitions in the same sportswear business rather than crossing over into irrelevant industries. we have been looking. i believe there will definitely be opportunities for us to make m&a deals in the global market. >> how about growing your own brand overseas? you still trail fila, nike, adidas, puma, commerce. even fila is more known then anta in china. >> anta's goal in the next 10 years is to become an international company, through either m&a or introducing our products to the wider market. i think our share in the international market will definitely be higher than it is at present.

>> can you jump over underarmour? >> i believe we do have an opportunity to move up, i am confident. ♪ anna: concerns about u.s. diplomatic tensions with north korea continue to simmer. an expert on rare events documents a nuclear crisis. nassim taleb sat down with our reporter and told him that there are more dangerous things to worry about. ♪ >> nuclear is very bad but that is not the biggest risk out there, because nuclear is confined to a region. first of all, i do not think will have nuclear war with anyone. nuclear in an area like lucas shema is bad, the worst you can think of is fukushima. if we were comparing risks, you

would kill vastly more people with a biological agent or by poisoning the water supply than you would with a dirty bomb in new york. the dirty bomb will kill a lot of people of course, and it is a horrible thing, and would definitely -- they would make sure it does not happen, but the biggest risk is not the nuclear it is too much on the radar screen. the thing that is going to harm you is something that is not on the radar screen. >> so how should people be thinking of kim jong-un and north korea? >> this, i don't know. i am not following. i don't know if he wants to commit suicide or something, i cannot spend time on this, so it makes my life easy. i mean, of course you will have saber-rattling with them but -- i just don't think -- i don't know the details. >> so you do not think we will have nuclear war? >> with china? >> no, with north korea. >> how can you call it war? think about it.

let's say you have 1000 wolves attacking one wolf? is it war, or would you give it another name? >> because the outcome on one side is very catastrophic? >> exactly, they are very small. so small, nothing to reach it. one thing, we are very good at that kind of stuff. nuclear war, we know the risks you are very good with nuclear. nuclear is something we are good at, the military. the military is good at that, all as well as russia. how horrible there turns out to be is fighting malicious, terrorists. that, we are not good at. ♪

♪

anna: you're watching "bloomberg best." i'm anna edwards. chinese technology firms and u.s. retailers shared the spotlight for a busy week of corporate earnings reports. our roundup begins with results from walmart. ♪ >> walmart gave a lukewarm forecast for the third quarter. the world's third largest retailer is trying to outspend amazon and it is taking its toll. the outlook tempered enthusiasm as posted its best resales growth in 10 years, and their accounts for more than half of its revenue. >> eps guidance for the third quarter is not quite as strong as investors were hoping for but i think if we zoom out and look at the picture it is a good report for walmart. they have been on this steady streak of great sales growth for 12 quarters. great growth in e-commerce. it is mainly charged by two things. when they have been these strategic acquisitions such as bonobos, jet and that is added to the total pie. but they have also really expanded their own assortment online. they have 67 million skews where they are offering shoppers more product and that is being off

-- paying off, too. >> target boosting its forecast for the rest of the year after second quarter sales topped estimates. a sign of big-box retailers improving retail and customer traffic. >> they have really enhanced their margins, focusing very much on apparel and home categories. some baby and kid areas as well and they have upgraded the brands, their house brands in particular. they have done a lot there. that has all been helping to drive more sales and in the same time they have done a good job with their mobile site, with their e-commerce desktop site and has been helping to drive sales as well.

prices have come down a little bit and they are trying to stabilize on that level. generally, they had a good quarter and the consumer is looking for some value and they are now finding it at target. ♪ >> shares of dick's sporting goods fell more than 18% this morning, ouch, after the company cuts its fourth quarter forecasts. there are expecting low single-digit sales for the year -- i am seeing some leisure to blame here. >> you saw this stock down almost 20%, near the lows of the session. as you said, there for your forecast earning has been cut versus earlier estimates of $375 a share. that full-year same-store guidance of single digits that one to 3% growth is also having some impact on its suppliers if you will. under armour gets almost 10% of its revenue from dix, and nike gets about 3%. and croc's gets some.

so as dicks sees the sales falter, it's playing into their shares. ♪ >> one of the largest tech firms in china reporting monster growth in the second quarter. it is supported by wii chat, which has 960 million users. they also have sales from online games that jumped 39%. what do you pull from the report? >> if you look at those wechat numbers, 963 million, they also have another social media platform with more than one billion users and what they are doing better is monetizing that user base in wechat and qiuqiu to drive mobile gaming and creating an ecosystem for that. we saw mobile gaming revenue for the first time surpassed that from the desktop gaming and that has always been there juggernaut, mobile gaming. i think internet added services

and mobile gaming makes up about 71% of tencent's revenue. but now, it is really moving into mobile gaming because of this massive hit "honor of kings." 10 million users and growing. >> alibaba shares are on the rise today after e-commerce giant topped earnings and sales estimate. china's largest online marketplace said revenue grew 66% in the last quarter helped by improvement in advertising algorithms. >> one word takeaway is affirmation. we have been noting accelerating trends in there and alibaba's position is very strong as you noted. they have been seeing some very notable modernization improvement combined with good volume growth and strong operating environments. in a high-margin business model, the product is the result of what we saw today. it is an affirmation, my initial take away. >> online shopping mall jd.com posting a wider quarterly loss after raising running to drive

sales at its mid-year promotion. a shortfall of $74 million is almost twice that of a year ago despite a 44% jump in sales. why is jd.com spending so much on marketing? what is behind this? >> jd usually wraps up spending in the second and fourth quarters when it has sales promotion days. in the june quarter, it was what they call a 618 promotion, and the underlying reason for this spending is to attract traffic and users, because it is in a pitched battle with alibaba for chinese online shoppers. as long as jd can maintain its

topline growth, if i remember it came in at 40-45%, as long as it can sustain that growth momentum, i think investors are not too much worried about the pace of ending. >> cisco announced its earnings after the bell yesterday after it narrowly beat earnings estimates. nevertheless, the stock turned down. this may be because of the major turnaround in the networking that cisco has undertaken, moving from hardware to software. the company whose machines are the backbone of the internet and

revenue in the third quarter may fall as much as 3%. is it being successful in the turnaround and why isn't the market recognizing it? >> we said we would begin to shift more of our business model into the software model and we have made unbelievable progress. this past quarter, 31% of our revenues were from recurring, up four points from the last year. we have, actually, our software-deferred revenue, growing 50% and increasing $5 billion for the first time. that is moving rapidly, and of our software business, 51% of our software business now, is actually from subscription. so, we have made a great deal of progress and i think that the strategy we laid out is actually working and i am very comfortable with where we are and i am pleased with what our teams have accomplished. matt: wesfarmers has reported a full year earnings but it missed estimates. that company acquired kohl's as well as homebase and has interest in coal mining, chemicals and fertilizer production. let me ask you first of all about the possibility of a sale of your resources business. it is the headline sticking out at me from bloomberg this morning. you say you are pursuing strategic options. these kind of reviews typically

lead to sales, is that a possibility? >> yes, it is a possibility, we have been looking at that for a while. pleasingly, the coal business made an increased profit in business this year which has been great for growth. we have been talking to various parties for a positive outcome and there is a possibility that it will sell both the coal mine and now interest in another one. if not, they are good assets generating cash for the group. >> in the pre-markets, 1.5%, the airline reporting its first worst half yearly loss in a decade due to the declining passenger numbers it is facing its first back-to-back annual loss in its history. however, the coo rules out a budget feature saying that he would like to concentrate on airport lounges, more wi-fi in planes, and yeah, also better food. >> earnings came out worse than i think everybody was expecting. caught a lot of us off guard. for a lot of us, it is the biggest loss, as you mentioned in the first half term in almost two decades. we do not have data going beyond that so it is at least two decades. a lot of losses from hedging losses continuing for cathay and we saw pressure on passenger yields going on. when we saw one-time things like fines that they had to pay for cargo, fixed pricing that eu has

rolled against them. so there were a lot of operating factors but they're also some nonoperating factors that have affected earnings. obviously, the reports out there, the earnings reports seem worrying going forward. ♪

♪ >> i just want to bring up the bloomberg function where you can find out pretty much everything there is to know about this. it is nisi on bloomberg. you can click on the various menus on the left, overview videos, lots of different explanations here. this is really cool. i have done this. you can subscribe to news alerts, which means you get all of the stories coming through to do with mifid ii. anna: there are about 30,000 functions on bloomberg and we always enjoyed showing you are favorites on bloomberg television's. maybe they will become your favorites, too. here is my favorite, quic , which gives you context and fast insight into timely topics. here is a quick-take from this week. ♪

>> it is impossible to ignore america's opioid epidemic anymore. the numbers are staggering. nearly 500,000 americans a they used heroin in the last 30 days. heroine overdoses have tripled between 2010 and 2014, and deaths from overdoses including heroin are now approaching deaths from car crashes. how did we get here? pain. so here is the situation. there is a grim connection between opioid painkiller addiction and heroin addiction in this country. in the 1990's, doctors turned to opioid drugs like percocet and oxycontin to use them for widespread treatment for chronic pain. the number of opioid prescriptions in 2002, 79 -- in 1992, 79 million. it went up to 217 million by 2012 -- 2002.

at the same time, heroin from afghanistan and mexico became a cheaper and more available alternative. the result is an increase in drug users in the u.s.. now here is the argument, president donald trump appointed a commission that in august advised him to declare opioid addiction a national emergency. >> we are going to spend a lot of effort and money on the opioid prices. >> trump says he is focused on cutting off the supply of drugs rather than focusing on treatment like the commission had recommended. the health care bill passed by house republicans that he supported drop the requirement that drug treatment be covered by medicaid. nearly every state has enacted laws related to drug abuse including targeting doctors and pharmacists who overprescribed hills. -- pills. states and the federal government had also made naloxone more accessible.

it is credited with reversing more than 26,000 overdoses 2013.n 1996 and meanwhile, advocates for patients with chronic pain worry that the rush to solve the addiction crisis may leave those who truly need opioids with needless suffering. ♪ anna: that was one of the many quick takes you can find on the bloomberg. you can also find them at bloomberg.com along with the latest business news and analysis 24 hours a day. that will be all for "bloomberg best" this week. thanks for watching, i am anna edwards. this is bloomberg. ♪

♪ announcer: from our studios in new york, this is "charlie rose." charlie: president trump continues to weather the fallout from charlottesville, virginia. his comments put him at odds with top military business leaders and members of the republican party.