♪ >> violence in las vegas. the u.s. response to tragedy. >> it was an active. evil. >> conflict and catalonia. it spain struggles for unity. it has given the independent movement a lot of traction. david: political missteps plagues the u.s. ruling party. >> europe is waiting by the sidelines. david: damage, destruction, and debt leads puerto rico reeling. >> what you hope for is orderly restructuring. i don't believe we are going

to get tax reform. if there is the elimination of deductibility. david: stanley fischer muses on what it takes to leave the fed. >> theoretical knowledge and experience increases your self-confidence about what you are doing. iger and mark cuban reflect on innovation and investment. >> we think we are living in a new world reality and we have to accept that. like the net and streamline -- i think it will as well. david: plus vladimir putin takes questions on donald trump in u.s. politics. onis all straight ahead "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, 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. number 1 -- 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 -- and 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 still without water, supplies, 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 in 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 he 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

-- they owe a lot of money to 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 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 -- this 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. the previous number was 156,000. the jobs report drops right now. down 33,000, 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 -- fourth 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 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 will 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.

they plan to move out of catalan 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 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 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 follow them or do there need to 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 that looks at this as a way 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 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. ♪

>> the banks need to plan for a hot exit. no one knows if we will have one or not, but this is an assumption, which is the most likely assumption right now. if you wait until the very last moment in a financial landscape, which would change quite drastically, there are too many risks associated with that. our, as well as the bank of england's recommendation to start planning early on. bank wants to go through the same narrow door, it it will be a problem. >> what would be the impact of a

hot exit? there would be implications for the economy. >> there would be implications for the economy, mainly on the british economy, but also on the rest of the eu economy. the biggest changes i look at would be the changes in the financial sector. the financial sector would be very different and a lot less productive and efficient than it is right now. you would have take -- you would have changes to the business model sector. cities would move, there would be new licensing processes, it will be a big change to the way we do finance in europe right now. wasb that aboutbank's board member the likelihood of a hard exit.

we sat down with tech investors mark cuban in los angeles. bigey recently announced a bet on sports streaming services. this may meanat for espn going forward. >> espn still covers 16,000 in sporting events a year, 16,000 hours of this may mean for espn going forward. programming. in a few months and 2016i noted that about 25% of american watch it -- watched some form of espn in a month. it is still an unbelievably popular service. one that is still thriving. the world of tv has been disrupted and we feel we need to adjust accordingly, and that is what we are doing by launching a streaming service. that is why we invested in van -- that is why we invested

and we are making choices for streaming. emily: emily rate -- nfl ratings have been mixed. you think ratings will go up? bob: it is still early for the nfl. i think ratings will go up for the season. stars emerge an old stars. i have been around long enough to see the cycles in sports. i think all content stars is fag more competition for consumers time. even the most popular content. whether it is the nfl, or any other members of cable tv. we are living in a new world reality and we have to accept that. it is still one of the most popular things out there and the most successful for business, but it is the reality of our time. emily: you told bloomberg you are considering getting into bitcoin, would you think of people like jamie dimon saying

it is fraud? >> i think there is a lot of assets for supply and demand. there is no value because you have no true ownership rights, you just have the ability to buy and sell those stocks. there are like baseball cards. bitcoin values a function of supply and demand, it does not do anything else. i bought some based on a swedish exchange. i am involved with token sales because i think it is a great that form for a future application. it is creating multiple great companies. i am involved in something called mercury protocol that i think is going to change messaging. emily: how big is your stick on bitcoin? -- stake for bitcoin? >> relatively small. david: speculation heated up

janet yellen. it was time for an interview with vice chairman stanley fischer. in his exclusive conversation, he did not comment on specific candidates, but he shared insights on the qualities the job demands. >> do we need a fed chair like chair yellen who has read maynard keynes 1936? we have a few candidates who have not gone through those key chapters. >> they should read it on the whole book. what happens in the book is what happens when the interest rate gets too low. it is worth reading today what is in there. >> can we have a new set up with someone like william miller and nonmonetary fed chair who has a vice chair of your capabilities,

or chair yellen's capability, or do we need to have that monetary expertise where crisis is shocked. ? terms in somemy places that having been basic theoretical knowledge and experience increases your self-confidence about what you are doing. is it essential? i doubt it. there are very, very smart people who could figure this out in many ways. but is it helpful? yes. enjoyed 1998, you enjoy the financial crisis, and you have enjoyed the struggles for here. , whetherext chairman it is chairman yellen to be reappointed, many people talking about that. what is the difference of people like you and a four standard

deviation shock of the moment, or set of shocks first is a normal day at the eccles building? >> is it something you are to do or let the markets take care of it? if you decide to leave it to the markets and wait a week and see what it really>> means, those ae things which depend a great deal on the experience you have on your understanding of how the markets work. that you get over the years. the initial to take a simple example, the initial reaction people have not thought is, if something bad happens, you close the markets. that is terrible. speech the other day, sort of on tapestry and the history of the bank of england, you talk about "never say never" events. what kind of chairman do we need for those events? stanley: we simply need someone

who has the flexibility of mind to see that 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 the capacity to lead a very large, very complex committee, the open witht committee, to agree this. politicians and business leaders gathered in moscow for the energy forum. russian president vladimir putin to par in a panel discussion moderated by bloomberg. he addressed the controversial topic of his relationship with the u.s. president, donald trump. yes, we had a couple of telephone conversations on various issues of interest.

we also discussed the syrian we also discussed the syrian issue -- on certain issues we are cooperating with the u.s. on many tracks. there are some problems, , certain confrontation around how are -- around how our approaches are different. regarding inter-fed relations, you can judge for yourself. they have become hostage to the on many situation occasions. russianforces are using relations to address their internal political problems. we are passionate, we are waiting for this internal political process to come to an end.

i hope that the fundamental interests, which are not mass destruction, the commenting of theri hope, our cooperation in energy fields, regional conflicts. i have been working tirelessly on those conflicts and coming up with solutions. terrorism.r example, these are fundamental interest that will change the nation of our situations for the better. >> do you think that donald trump has become a hostage of them american political system -- of the american political system? that trump'slieve character will never be hostile

to anyone. i would if i is him to establish russiaeconomic ties with and prevent competitors taking a position with the market and work in the interest of the american economy. that real friends that are interested in establishing well-established cooperations will continue for the current political situation. ♪

david: you are watching "bloomberg best." our roundup of the week's top business stories. the ongoing battle between u.s.

tech companies and european regulators. amazon hit with a 204 million dollar tax bill by the european union. it is the latest u.s. company to find itself in eu tax trouble. today,id in an enough amazon would allow for times that tax with other local companies in the same tax rules. this is illegal eu state rules. just eu state aid rules. of the u.s.ing out tech industry. that issue was there for the amazons, googles and facebook's of the world. theave this -- they have growing tax issue. other companies like starbucks and mcdonald's have tax issues with the eu. that is something that feels more political to some of the players. the reality is, these are global players doing business in every

country in the world, generating a tremendous amount of cash around the world. have sufficient planning, they want to make sure proper payments are being made. voted directors at uber unanimously to approve softbank. finalized but it could be a quarter billion dollars. they made changes to limit the influence of the ousted chief executive travis. >> this is a finalized but it could be move towards limiting the influence of as benchmark,l which both had outsized voting shares. with the softbank investment, there will be money likely put in from a couple of their firms. that would move from one share, one vote structure. much more a gala terrien across the board -- much more egalitarian across the board. they are stepping into this andlict between benchmark

the former ceo. they are trying to reach some kind of resolution where they could invest the money and put to rest tensions between the two sides. airlines have flights being canceled. aviation authorities said they are flying 110,000 stranded customers back to the u.k. the executive describes this as the biggest penetration ever attempted aviation authorities d they in peacetime. what is it tell us about those that remain and how tough life is out there? >> i think it is safe to say we may see further bankruptcies around -- along the road, especially in smaller companies across europe. drop in fuel pipe -- trop in fuel prices sitting around $50 a ton, that has allowed carriers to ramp up and put pricing

pressure on smaller guys like monarch, even poland. you're seeing restructuring across the entire region. new york sports fans can rest easy about their cable package. a tentative deal yesterday to keep in espn, abc, and the disney channel on air for 2.4 million area subscribers. andhis shows that espn disney owners still have a lot of negotiating leverage in these negotiations with paid tv providers. a lot of people were watching closely. closer -- it was a test as to rather espn could get higher programming fees from the ptb operators. theses important -- for paid tv operators. this is important because they paid audience of dollars for the rights to air live sports. this is crucial for disney

because they have a lot more contract renewals with paid tv providers coming up. it looks like they got what they were looking for, they got higher rates for espn and they persuaded all teeth to carry -- and they persuaded them to carry their college sport networks, which is new. >> showing signs of slower growth in the latest quarter dumped by the effects of brexit. the company's hard line on prices conflicted with an in inflationary -- with an inflationary squeeze. they could make to three and a half percent to 4% operating margin targets. >> it is important for us and for our shareholders. dividends?state >> we can see a clear path towards investment grade. we have been clear on that. we have been reducing debt and

bought back 500 million pounds in bonds. we have repaid one billion pounds in the half year. we are really focused on both of those. raising its price is once again. $11 a month, that is what netflix will charge for its most popular u.s. service plan. the streaming giant is looking pay for its budget for tv shows, and movies. the market is reacting favorably to the news. >> netflix has three different rates. the lowest rate at eight dollars a month will stay the same. the two higher-priced plans will increase by one dollar and two dollars. they need to raise prices for the fact that they are spinning an anonymous not a money on -- spending an enormous amount of money on program. -- on programming. this could improve their markets. >> three classmates open the

first restaurant in washington d c. it is a fast casual dining chain -- dining chain. the friends share ceo duties. one member tells the company story on the latest edition of "small to big." sweet green we make every single thing from scratch in store every day. the three of us thought, what if we open this restaurant? it was solving a problem we had in our all my. the problem of wanting to eat something that is healthy, affordable, convenient and stood for something we believed in. we started the company by going raisedanyone and $300,000. 40 people contributed to that very first restaurant. the average check was somewhere between $5,000 in $10,000. the place we opened was tiny.

it really forced us to simplify. it has stuck with us throughout the history of the company. it was not that sales took off in a crazy way, right away, but the people who knew about us loved us. very soon after we opened the first one we started exploring the idea of a second and third one. the first seven restaurants stayed in the d.c. area. we knew we had to get things right the four we scaled it. we had to raise a lot of capital along the way, but we never took people ortitutional big investors. four years ago one of our customers and friends approached us about investing. steve really believed in our mission. that kind of funding allowed us to invest in people, invest in the community, invest in infrastructure -- and invest in infrastructure. restaurant and a

responsive way. you can pick up your phone, go online and be just a few clicks, order it, have it on the shelf ready, come pick it up and be out of there. that was hard. it was more than just building an app. kitchenwe operate our systems, our prep, everything had to be redone. it went from one restaurant, one engine to two. it took two years to build that technology. i think sometimes the easy way is not the right way. andhave to embrace it figure out a way to do it the right way, not just achieve it the easy way. today we are opened in eight cities. d.c., philadelphia, baltimore, new york, boston, chicago, l.a. and the bay area. in 2017 we will end the year with 85 restaurants. we are focused on not only building restaurants, but

building technology that can make it easier for customers to interact with each other. we are we say we want to meet customers where they are. ♪ -- we often say we want to meet customers where they are. ♪

>> this is the financial analysis function in the

bloomberg. we see here for revenue, license updates 46.4% back in 2016 for the book of their revenue. that is the traditional software that we see. >> there are 30,000 functions on the bloomberg and we enjoy showing you our favorites on bloomberg television. maybe they will become your favorites. here is another one, to uic go -- quic go. here's a quick take from this week. the baby boomers of the world are hitting retirement age, but many continue to work. generation famous for rewriting the rules is famous for reshaping the twilight of our lives. for older americans are practical reasons to keep working. many retirement age homeowners have yet to pay off their home loans student loans. some cannot afford a 30 year

vacation, while others are not willing to give up their careers for golf courses. compounding the issue has become the gradual privatization of retirement programs. in the 1970's employers offered benefits.th 401(k)s that were interested in the stock market lost their value in the economic downturn's -- downturns. americans are starting retirements with little savings, that means americans work more than most other wealthy nations. 18% of americans over the age of 65 areamericans still working. that is in contrast to 6% in germany, 10% in the u.k., and 22% in japan. affording retirement is not just american problem. the world's birth rate is declining. with aging population world ride -- worldwide, government programs could become insolvent without a robust workforce.

many are encouraged to stay on the chop. in 2011 the u.k. abolished its retirement age at 65. most people work as long as they want. a new reality is taking hold. when asked what age they expect to hang up their hat, 10% of american baby boomers said never. ♪ of the was just one miniclip takes you can find in the bloomberg. you can also find them at bloomberg.com along with the business news 24 hours a day. that will be all for "bloomberg best." i am david westin and this is bloomberg. ♪

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♪ >> chinese markets return from the golden break, traders watching for reactions. >> a forecast from the fed storms the payroll numbers, but rates are expected rise in december. put curbsys it's out are rebalancing the market, but extraordinary steps maybe still needed. >> and donald trump calls a senator a coward, he responds by saying the white house