♪ david: coming up, the stories that shaped the week in business around the world. violence in las vegas and the u.s. responds to tragedy. president trump: it was an act of pure evil. david: conflict in catalonia. spain struggles for unity. >> it really got nasty. it has given the independent movement a lot of traction. david: political missteps plague the uk's ruling party. >> they are negotiating with each other and europe is waiting by the sidelines. david: damage, disruption and at leave puerto rico reeling.

david: sizing up the gop tax plan. >> i don't believe we will get tax reform if there is the elimination of the deductibility of state and local taxes. david: stanley fischer muses on what it takes to lead the fed. >> theoretical knowledge and experience increases your self-confidence about what you are doing. david: bob iger and mark cuban reflect on innovation and investment. >> i think we are just living in a new world reality and we have to accept that. >> just like the net and screaming create a multiple great companies, block chain will as well. david: vladimir putin takes questions on donald trump and u.s. politics. >> do you think donald trump is has become a hostage of the american political system? david: it is all straight ahead on "bloomberg best." ♪ david: hello and welcome, i'm david westin and this is "bloomberg best," your weekly review of the most important business news and analysis and

interviews from around the world. the week began on a note of tragedy and horror with a nightmare unfolding in las vegas. >> it is the deadliest mass shooting in modern u.s. history. on the strip of las vegas, more at least 50 people were killed and 400 transported to area hospitals when a gunman perched in a high-rise hotel opened fire on thousands attending an outdoor music festival. the suspect has been identified as 64-year-old stephen paddock. >> police saying they believe he was a lone shooter and police here also telling us right now they have no sense of a motive for the shooting. president trump: it was an act of pure evil. to the families of the victims, we are praying for you and we are here for you. >> this is an important test for president trump and he and his team responded with a carefully

crafted and meticulously read statement that was put forward to a teleprompter and important for the president to not ad-lib on this but to offer a vision of unity and comfort. he did not use the word 'terror' and there are two reasons for that. the national security council and various law enforcement agencies are trying to confirm if there was a link from the suspected shooter to any outside group that all, and number two, because in the context of domestic acts of violence, the decision about whether to use that word comes loaded again with the political debate. >> president trump continues his visit to puerto rico to confront the devastation from hurricane maria head on. half the island's population is supplies,out water, or electricity two weeks after the storm hit. president trump: i hate to tell you, puerto rico, but you have thrown our budget a little out

of whack because we have spent a lot of money on puerto rico and that is fine. we saved a lot of lives. >> it's going to need money from congress and the way of an aid package. it will also need a lot in the way of private donations. they are glad to have the attention shown on this important humanitarian crisis and they feel despite some of the logistical challenges of having a u.s. president touchdown in the midst of all of this, they feel it is worth it. >> it cannot hurt for the president to be there. he is not there to rebuild relationships or get his hands dirty. i do not think we will see him shoveling storm debris out of roads like mike pence did in houston, but he is meeting with locals right now and this is the kind of thing you would expect from presidents after major disasters. >> president trump went to puerto rico to offer relief, but she went beyond what people expected. he suggested the u.s. government should simply wipe out puerto rican debt to help get the u.s.

territory get on their feet. president trump: they all a lot money towe a lot of wall street and what's left, we wipe that out. you can say goodbye to that. i don't know if it is goldman sachs, but whoever it is, say goodbye to that. >> mick mulvaney made it very clear that he said the president did not mean a bailout for puerto rican debt. he said the trump administration, the federal government will be active in helping with the storm recovery, but when it comes to death debt bonds, that needs to go through the process congress started a year ago. >> if you look forward, there has to be debt reduction. what you hope for is orderly restructuring. it has happened numerous times in the corporate sector and it should happen again here. >> in the markets, dollar and treasury yields are lower as markets digest the future of the federal reserve. president trump's advisors have said to have delivered a short list of candidates in the

running. gary cohn, keven warsh, janet yellen, and noticeably absent is glenn hobart and richard davis. >> i think chair yellen is still better than even odds for the fed chair. she would reflect a continuity of the policy that has been in place. president trump has said he does like her and admires her track record. i would say yellen, powell, and further down the list, maybe warsh, but he might be too hawkish for president trump. >> i think what is most interesting is that there are some dovish republicans being proposed and what i mean by that is potential governors who would be dovish on interest rates, would pullback qe and get the curve to widen out a little bit, which i think would be good for the markets. and probably the ones that trump, when he starts interviewing these guys, he will

go with one who is more anti-regulation. >> the house passed their budget resolution for the fiscal year, taking their first concrete step to enacting tax reform. it allows the republican tax bill to be passed with a simple majority and reconciliation protecting the legislation from a democratic filibuster. how did the budget resolution become the easy part of this legislative process? >> you are absolutely right because now it turns to the hard part, and that is trying to build consensus amongst republicans on a host of tax related issues, whether it is state and local deduction, or any other issue in particular in terms of how they they are going to pay for what most estimates are saying is a $6 trillion plan. the bottom line is yes, the the budget did advance out of the house of representatives. it is a step they needed to take, and they took it. it sets the stage for them to now get into the weeds of

actually crafting the tax policy and that's what we are going to see put out over the next couple of weeks. >> bob corker yesterday set the stage for what is happening right now is everybody is throwing around the sugar and tax cuts and nobody will eat spinach, which is how do you pay for them? that is a big concern for the few remaining deficit hawks out here. they want to see the administration and republicans really bear down on these loopholes and tax deductions in the code and say, we will get rid of them, even if it means some people pay higher taxes. >> the estimates for payrolls is 80,000. 156,000.ous number was the jobs report drops right now. down 33,002 a loss of 33,000

jobs during last month. however, the household survey, the jobless rate ticking down to 4.2% and the average hourly earnings month over month climbing .5%, better than .3% estimated. year-over-year earnings rising 2.9%. the jobless rate, 4.2%, the lowest since february 2001. >> i think fundamentally, the job growth numbers are probably fine last month. the 2.9% wage growth is the headline and janet yellen said that in a healthy labor market, wage growth is between 3% and 4%. we are just about there. i think that chair yellen will look at this report and say, my understanding of the way the labor market works is basically right. >> this is the situation where analysis of the fed, a rate hike in december, as long as financial markets are firm, as long as wages began to rise towards 3%, they certainly are, and i think the fed is slam dunk

in terms of raising rates in december. david: still ahead as we review the week on "bloomberg best," conversations with larry fink, fed vice chair stanley fischer and disney ceo bob iger. plus, vladimir putin holds court on donald trump. up next, more of the weeks top -- the week's top business headlines. the former head of equifax gets grilled on capitol hill. >> what we learned this morning is that equifax messed up. david: this is bloomberg. ♪

♪ david: this is "bloomberg best," i am david westin. let's continue our tour with the top business stories in spain, where political crisis rages over independence of catalonia.

>> in spain, catalan separatist leaders signal they may declare independence this week after 85% of voters backed independence. hundreds of activists were injured when they tried to stop police from shutting down the illegal referendum. >> what a weekend in barcelona. i was on the ground yesterday and it really got nasty. some nasty pictures, a pr disaster for the administration, a total double whammy. they wanted to stop the vote and the vote happened and the yes won and they wanted to contain this and make it a domestic issue. that obviously didn't happen. it is making news over the world and giving the independent movement a lot of traction. a lot of tension in the relationship between madrid and barcelona. we can definitely say it has been completely broken at this stage. >> the president has kept the rest of spain guessing on if and when they will declare independence. they reiterated an offer about mediated talks attacking king felipe's condemnation of the catalonia's illegal referendum. >> we have been totally open to

discussion and debate with the catalan government, but it has to be within the framework of legality and the spanish constitution. if we accept any mediation or arbitration, we are setting a dangerous precedent for all of europe. >> sources within the catalan government now saying a lot of numbers are getting cold feet. there are ready to push ahead , but some of them are getting scared. they are scared by the word unilateral and about what it can do to the economy. they want to reframe it, reword it. they are serious tensions as to how to do this. there are serious divisions as to how to go ahead. the coalition does not want to do it unilaterally, and they want to engage the central government in negotiation. >> the financial and political squeeze on the separatist government in catalonia tightens. the spanish constitutional court has suspended a meeting held by the catalonian president and the

regional parliament on monday. out of catalanve and the board is meeting to consider a move as well. >> they are based here but a lot of their business is in spain, but crucially they want to make sure, and this is the message they want to send it to the market, no matter what happens, no matter the political noise, they will still be backed up by the european central bank and be part of the eurozone. that is the latest news. the business economy minister announcing they will make it easier for companies to move away if they want to. >> the u.k. chancellor hammond delivering a keynote speech at the conservative party conference today. instead of brexit, the address was primarily focused on the leader of the labour party, jeremy corbyn. >> he talked about the rival labour party. he described them as marxist and have moved to the left and grouped them in with north korea, zimbabwe, and cuba and venezuela and others.

boris johnson setting himself up as my colleague at bloomberg news put it the keeper of the brexit flame. wanting to keep the flame alive in the u.k. and making sure his views and the views of his supporters are reflected in government policy. this is just one more reminder that she will keep answering questions about firing the foreign secretary. another reminder of how vulnerable she is at this point. >> boris johnson is falling in line on brexit. johnson said he is behind every syllable of theresa may's brexit plan. his comments after an onslaught of criticism and calls for may to fire him after challenging her brexit policy. >> it seems as if he has fallen in line. why has he done that? we caught up with a number of mp's who say he realizes he is upsetting some of the people he might rely on if he wants to launch a bid for leadership in the future. there could be something in it for him to back down in the short-term, but it doesn't change the conversation of the

conservative party's psychodrama, who leads this party into the future. it is still the french conversation here in manchester. >> theresa may was interrupted by a protester. >> while our opponents flirt with a foreign policy of neutrality and prepare for a run on the ground. some people say we spend too much time talking about jeremy corbyn's path. >> the protester was identified as a comedian. the piece of paper he handed to may was an unemployment form. we know they are planning for the worst case scenario. at least they are admitting it. there is no more no brexit is worse than a bad brexit. it is we are planning for the worst case. >> every day there is a new message on brexit and there has been no progress because for the u.k., they have been negotiating with each other and europe is waiting by the sidelines, waiting for them to come up with something behind which they are

united. >> the manufacturing gauge rose to a five-year high, signaling efforts to clean up the financial sector and the environment are not hurting growth. the pmi number, the private gauges we have seen is showing a different picture. >> why are we moving in opposite directions? give us a little bit of color on this. what does it tell us about where the economy is going? >> for me, there is a bubble in china's official pmi. at the moment, i tend to trust the pmi, it paints a clear picture of the chinese economy at the moment. >> u.s. auto sales were firmer last month, helped maybe by consumers in houston who started replacing pickups and other vehicles damaged by hurricane harvey. the big u.s. automakers were on the rise as gm, ford, fiat, and chrysler beat analyst estimates. >> we have seen sales down or flatter or down most of the year.

the first half was slightly down. when you see a month like this, you have got to say that replacing cars that were damaged or destroyed in the storm has to be a big factor. maybe it happened sooner than analysts thought and maybe a bit bigger because numbers like nissan are blowing estimates out of the water. and really everybody was up and over their estimates by quite a bit. it has to be replacements from the storm that is pushing this. people did not wake up by providence and decide they needed to buy more cars they than they were in the first few months of the year. >> former equifax ceo appeared before a house subcommittee today answering questions about the massive data breach. smith apologized for the security failure but defended executives who sold stock before after the breach occurred. >> it was deemed as suspicious activity. we had no indication that pii was in fact compromised at that time. we had no idea that data was

exfiltrated at that time. >> what we learned this morning is that equifax messed up. there were systems in place that employees did not follow and the company was not prepared to deal with the fallout of this massive breach. that is definitely one of the things we learned. it is important because it will be a theme moving forward as we start to see more policy issues debated around what needs to be done to prevent these types of breaches from happening. the central question is are there rules and equifax did not re need tom or do the be better rules and regulations put in place? >> convergence of two energy superpowers, the saudi king salman beginning talks with vladimir putin in moscow, it is the first time a monarch from saudi arabia has ever visited russia. this comes ahead of king solomon's planned talks with president trump's next year. what are the problems of a

closer saudi arabia-russia unity? >> obviously for the united states this is a potential problem. saudi arabia is one of its key allies in the region. putin looks like this to change in the country's position. obviously, the oil supply agreement between opec and russia that has succeeded in keeping prices stable is driving them up and has been a success. it looks as though russia will agree to extend it as saudi arabia has asked for until the end of next year, which is what putin indicated yesterday. in addition, there will be possible cooperation on syria, which is another major issue for the two countries. ♪

♪ david: welcome back to "bloomberg best." i'm david westin. president trump's outline for tax relief is under the microscope on capitol hill and for that matter on wall street. in an exclusive interview with bloomberg's erik schatzker, black rock's ceo larry fink discussed what he does and does not like about the proposal. >> there are a lot of merits and in what was being proposed, but let's be clear. what is being proposed is a large extension of our deficits. according to the cbo, our deficits will grow to $25 trillion in the next 10 years before whatever this tax reform is or tax cut is. whether this tax reform adds another $1.5 trillion or $5 trillion, we all have our scoring, but my biggest worry on the country so dependent on foreign ownership of our debt,

we have chinese and japanese owning as much as 25% to 30% of u.s. treasury debt. if you look at demographically, the domestic needs of china and japan, they are going to need a lot of that money. and to think we could have foreign ownership of 30% out 10 years is probably a bad assumption. my worry is, are we growing our deficits in front of some very big demographic walls? erik: we are and we have. larry: it only works if we can successfully bring our economy up in this 2% to 2.5% range up to 3% to 3.5%. erik: that's what the president says he wants to do. that's what gary cohn says the tax reform proposal is designed to do. larry: that happened with a tax reform during the reagan

administration. that hasn't happened ever since. it brings growth forward. erik: are you saying the tax reform proposal needs to be budget neutral? larry: no. but it has to be mindful of what we need to do related to our deficit. erik: what would you change? larry: i'm not a tax expert. you are asking me many tax expert questions. i don't believe we are going to get tax reform if there is the elimination of the deductibility of state and local taxes. obviously that creates a bigger deficit. so we will have to find it somewhere else. obviously one of the ways is by raising corporate tax rates from a proposed 20% to something closer to 25% or 27%. that is still a net positive versus what we pay today. i think by and large, most

investors and corporations would welcome that. erik: you would be fine with that? larry: we would be fine with that. we pay about a 31% tax rate worldwide. it is fine for us. two, we need to make sure we are fair and just across the different sectors. i do believe what the president's tax proposal related to partnerships will help the small and medium businesses quite a bit. by having that 25% tax rate. david: coming up, a roundup of the week's top company news, including another eu challenge to a u.s. tech giant. and straight ahead, more of the week's most interesting conversations. stanley fischer is getting ready to step away from the federal reserve. he has some thoughts on who will be filling his shoes.

stanley the initial reaction is : that something bad happens and you close the market. that's terrible. david: this is bloomberg. ♪ is this a phone?

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♪ >> the banks need to plan for a hard brexit. nobody knows if we will have one or not, but this is an assumption that is the most likely assumption right now. if you wait until the last moment for a financial landscape that will change drastically, there are too many risks associated with that. it would be our, and the bank of england's, recommendation to start planning early on, because if every bank once you go

-- wants to through the same narrow door, it will be a problem. >> what would be the impact of a hard brexit because the u.k. is the single largest export market for the eu? there will be implications for the economy. >> there will be implications for the economy. the biggest changes i would look at will be the changes in the financial sector, and the financial sector will be very different. it will be a lot less productive and efficient than it is right now. we will see changes to the business model of the financial sector. banks will move cities, part of their business models, new new licensing processes, new supervision. it will be a big change to the way we do finance in europe right now. david: that was this

bundesbank's board member, dombret. he was not the only one who spoke with us this week. emily chang sat down with tech investor mark cuban and bob iger. disney announced a big bet on sports streaming services. emily sat down to talk about what this means for espn. >> espn still covers 16,000 sporting events a year, 65,000 hours of programming. in a few months in 2016, i noted 75% of americans watch some form of espn in a month. it is still an unbelievably popular service, one that is still driving from a profitability perspective, but the world of tv has been disrupted. we feel we need to adjust accordingly. that's what we are doing by launching a streaming service. it is why we invested in stantec, and why we are making these extra sports on a consumer

direct-to-consumer basis. emily: nfl ratings have been mixed. do you think ratings will go up? >> i think it's early for the nfl. as playoff races start to emerge and a new stars emerge or we are reminded of old stars' presences on the field, we are all facing more competition for consumers' time. even the most popular content. whether it's the nfl or network tv or the cable channels, we are living in a new world reality, and we have to accept that. it doesn't mean it is still among the most popular or successful things out there from a business perspective, but it is a reality of our time. emily: you told bloomberg you are considering getting into bitcoin. and what doe so yet

you think about people like jamie dimon saying it is fraud? >> it is interesting, because there are a lot of assets whose values are based on supply and demand. you have no true ownership rights or voting rights. its value is a function of supply and demand and does nothing else. i bought some based on a swedish exchange, because it gave me liquidity. emily: pure bitcoin. bitcoin, yes. i'm also involved with ico's sales, because block chain is a great platform for future applications. just like the net and streaming creative, i think block change will as well. i am involved with mercury protocols which i believe will change messaging using block chain.

emily: how big is your stake in bitcoin? mark: in bitcoin? relatively small. david: speculation heated up this week over possible successors to janet yellen. it was an opportune time for an interview with outgoing fed vice chair member stanley fischer. in his interview with tom keene, he did not comment on specific candidates, but he did share insights on what the job demands. >> do we need a fed chair like chair yellen? i believe we have a number of candidates that have not even gone through these key chapters which are considered the canon today. >> they should read it, and they should read the whole book, because at the end of the general theory, it mentions what happens when the interest rates gets too low. it is worth reading even today. tom: can we have a new setup with somebody like william miller? places, aand

nonmonetary fed chair who has a vice chair of your capabilities or chair yellen's abilities? or do we need to have the expertise of crisis and shock as chairman? >> i found in my terms as governor and vice chair, having the basic economic theory and experience increases your self-confidence about what you are doing. is it essential? i doubt it. there are some very smart people who could figure this out in many ways. but is it helpful? yes, very much so. tom: what is it like with a standard deviation shock? you enjoyed 1998 and the financial crisis and the struggles. for the next chairman, many people talking about that, what is the difference of people like you in a forced standard

deviation shock at the moment or set of shots versus a normal day at the eccles building? >> the difference is, is it something you ought to do or should you let the markets take care of it? if you decide to leave it to the markets, you wait a week and see what it means. it depends on the experience you have and your understandings of how the market works. you get that over the years. to take a simple example, the initial reaction of people is that if something bad happens, you close the markets. that's terrible. tom: in your final thoughts of london in your final speech, you talked about never say never events. what kind of chairman do we need to be steeled and ready for never say never events? >> you simply need someone who

has the flexibility of mind to see he or she needs to take a different route at a particular moment in time or over the next year or two, and someone who has also the capacity to lead a very large, complex committee to agree with his or her thoughts. david: politicians and business leaders gathered in moscow for the annual russia forum. vladimir putin took part in a panel discussion. he addressed the topic of his relationship with donald trump. >> our personal relations, there is almost none. we saw each other one time. we had some various telephone conversations on areas of mutual interest. we also discussed the syrian issue.

by the way, on certain issues, we are cooperating with america on many tracks. there has been problems, sanctions, tensions, searching confrontations over our approaches which are different. we are capable of coming to find solutions. ouroordinate or approaches. as to their effectiveness, you can judge for yourself. certain forces are using the russian-american relations to address their internal political problems while we are passionately awaiting for the process of this to come to an end. i do hope the fundamental mutual

interests which are not proliferation of weapons of mass committing ofhe cyber crime, cooperation in regional conflicts. i have been working tirelessly on those conflicts, coming up with solutions to these conflicts. in syria for example, the fight against terrorism, cybercrime. these are fundamental interests that will change the nature of russia-america relations for the better. >> do you think donald trump is hostage of the american political system? that seems to be what you just said.

pres. putin: i believe someone with a personality like trump, his character will never be hostage to anyone. >> what would be advice to him? pres. putin: i would advise him to establish normal economic ties with russia markets in the joint interest of the american-russian economy. they are interested in establishing well-established cooperation. they will continue promoting ties with them for the current political situation. ♪

♪ david: you are watching "bloomberg best." i'm david westin. let's return to our roundup of the top business stories and the latest skirmish in the ongoing

battle between u.s. tech companies and european regulators. jonathan: amazon hit with a $294 million tax bill by the european union. it is the latest company to find itself in eu tax trouble. e.u. saying amazon was allowed was allowed to pay four times less tax. >> one has been a regulatory review coming out of the eu for a long time in many years. that issue is there for the amazon and the google and the facebooks of the world. they also have this growing tax issue. it is not just the tech companies. there are some growing multi national companies like starbucks and mcdonald's who are impacted, too. that feels more political to some of the players, but these are global players doing business in every country around the world, generating cash and for them. it is efficient tax planning. for the regulators, they want to make sure proper payments are being made.

>> the director of uber voted unanimously to propose the limit to the government structure when it comes to ousted chief executive travis kalanick. >> this is a move toward limiting the influence of travis kalanick and other board members who had outsized shares before this move. with the softbank investment, there will be money put in from a couple of other firms. that will move into one share, one vote structure. that is part of the push softbank wanted as it came into this. they are stepping into this conflict and they are trying to

reach a resolution where they can invest the money and take equity stake and put together some of the tensions between these two sides. >> monarch airlines has been placed into the spotlight, and cancelled. being it is watching a program to fly back to the u.k. the transport sector describes this as the biggest repatriation ever attempted in peacetime. what does it tell us about those who remain and the life out there? >> it is fair to say we might see further anchored season bankruptcies along the road especially along the smaller carriers. we see a drop in fuel prices, which has allowed ryanair and easyjet to ramp up their

-- capacity to put pressure on monarch, even the likes of the airline in poland. you are seeing the same kind of restructuring across the entire region. >> new york can rest easy about their cable package. they reached a deal that keeps espn, abc, and disney channel on air for 2.4 million new york area subscribers. >> i think what this deal shows is that espn and disney still have a lot of negotiating leverage in these negotiations with pay-tv providers. a lot of people were watching this deal closely as a litmus test for whether espn could still manage to get higher programming fees from the pay-tv operators, which is important for the business because they are losing subscribers and they paid billions of dollars to air live sports. this is a crucial moment for disney. they have more contract renewals with pay-tv providers coming up, and it looks like they got a lot of what they are looking for. higher rates for espn which is important, and they persuaded them to carry to college sports networks.

>> showing signs of solid growth in the latest quarter. they are dogged the effects of brexit. shares of london fell today, the company's hard line on prices conflicted with an inflationary squeeze from the week pound. the company restored its dividends and officials remain confident it can meet 3.5% to 4% operating margin. >> it is an important step for us and our shareholders. it has been three years since we paid dividends. >> why, i might ask? >> i think they go hand in hand. we see a clear path towards investment grade. clear on that.ry

reducing ouren debt and bought back 500 million in the pastds and million pounds --debt, so we are foucsed focused on that. >> netflix raising its prices

once again, $11 a month. they will charge for its most popular u.s. streaming service plan. it is helping to pay for its ambitious budget for their tv's and movies. the market is reacting favorably. >> netflix has three different rates. the lowest rate at eight dollars a month is going to stay the same. the two higher plans will increase by one dollar and two dollars a month. they need to raise prices because they are spending an enormous amount of money on programming, $6 billion this year, $7 billion next year. this can improve their profit margins, as well. david: 10 years ago, three classmates opened the first restaurant in washington, d.c. today, it is a casual chain with locations in eight cities and the same three friends still share ceo duties. one member of the trio tells the growth story on the latest edition of "small to big." >> at sweet green, we make every single thing from scratch every day. the three of us were like, what if we opened this restaurant? it was solving a problem we had in our own life. wanting to eat something healthy, affordable, convenient, and really stood for something we believed in. we started the company by going out to anyone we could ask and we raised about $300,000. 40 people contributed to that first restaurant. the average check with between $500 and $10,000. the first place was tiny. it forced us to simplify everything. that really stuck with us. it wasn't that sales took off in

a crazy way right away, but the people who knew about us loved us. soon after, we started exploring the idea of a second and third one. we wanted to stay in the d.c. area but we knew we had to get things right before scaled it. we have had to raise a lot of capital along the way as we built restaurants, but we never relied on institutional funding. it was about four years ago, one of our customer's friends approached us about investing more money. he believed in our mission, and that kind of funding allowed us to invest in people and community and systems and infrastructure. it allowed us to build a brand. we invested in mobile technology and rebuild restaurants in a responsible way.

you could pick up the phone and go online and pick it up and get out of there. hard.as really it was more than building an app. everything had to be redone. the way we operate, our kitchen system, our craft, everything had to be rethought. it went from one restaurant, one engine, to two. it took about two years to build that. is notes the easy way the right way. we embraced it and figured out a way to do it the right way, not just achieve it the easy way. today, we are open across the country in eight cities. we are in philadelphia, baltimore, new york, chicago, boston, l.a., and the bay area. we will end the year with 85 restaurants. for the next 10 years, we are focused on not only building restaurants, but building technology that can make it easier for customers to interact and eat healthy. we want to meet customers where

they are. ♪

♪ >> this is the financial analysis function in the bloomberg. we see here for revenue, updates

64.6% back in 2016, but the bulk of their revenue, that is their traditional software. >> there are about 30,000 functions on the bloomberg, and we enjoy showing you our favorites. maybe they will become your favorites as well. here is another function you will find useful. quic. you can get important context and insight on important topics. here is a quick take from this week. >> the baby boomers of the world are hitting retirement age, but many of them continue to work. the generation famous for rewriting the rules are shaping the twilight of their lives. here is the situation. for older americans, there are practical reasons to keep working. many retiring homeowners have failed to pay off their loans.

some can't afford a 30 year vacation. others are not willing to give up enriching careers. compounding the issue has been the gradual privatization of retirement programs. employers began to offer 401(k)s in place of pensions with guaranteed benefits. but 401(k)s invested in the stock market lost a lot of value during economic downturns. here is the argument. americans are starting retirements with little savings and that means americans work more than other wealthy nations. 18% of americans over the age of 65 years old are still working, in contrast to 6% in germany, 10% in the u.k., and 22% in japan. it is not just an american problem. the birth rate is declining. that means fewer workers and people contribute to pension programs. governments feared pension programs could become insolvent without robust workforces of people. so, many are being encouraged to

stay on the job. abolishedhe u.k. their mandatory retirement age. most people now work as long as they want. a new reality is taking hold. when asked what age they expect to hang their hat, 10% of the be -- american baby boomer said never. david: that was just one of the many quick takes you can find on the bloomberg. you can also find them on bloomberg.com with the latest news and analysis you can find any day. thanks for watching. i'm david westin, and this is bloomberg. ♪

♪ >> from our studios in new york city, this is "charlie rose." charlie: we begin this evening with a continued search for answers in las vegas. here is the cbs evening news. >> investigations are no closer to understanding what allowed stephen paddock to create some of the carnage. he placed cameras outside his room and investigators believed he may have had an accomplice. >> stephen paddock is a man who spent decades acquiring weapons and ammo and living a secret life, much of which will never be