♪ best,ing up on bloomberg the stories that shaped the week in business around the world. for central banks. the bank of japan sticks to its guns. the bank of england finally hikes. and the federal reserve will go forward under new leadership. rexam i'm committed to making decisions with objectivity, based on the best available evidence. like the think it would be a mistake to push jay powell around. the gop unveils their long-awaited tax plan. but investigations in washington dampen some of the fanfare. in the have manafort

system now and mueller can apply leverage to him. >> companies don't want to do anything to alter the nature of freedom on their platforms. julie: wall street heavyweights along with lloyd blankfein on this week's top interviews. >> it's the moment you want the most fiscal stimulus in the market. the things that can be fixed, but you can't do them by making light suggestions. julie: plus a slew of earnings to sort through with insight from top executives. >> [indiscernible] >> the challenge is coming from search. julie: it's all straight ahead on "bloomberg best." ♪ julie: hello, and welcome. i'm julie hyman. this is bloomberg s, your weekly review of the most important business news, analysis, and

interviews from bloomberg television around the world. the week begin with a bombshell as the first charges were revealed in special counsel robert mueller's investigation of russian interference in the 2016 presidential election. >> president trump's former campaign manager paul manafort and his one-time business partner rick gates charged in the investigation into russian meddling with the u.s. election. manafort and gates face money, conspiracy, and tax charges in a 12 count indictment. >> 12 counts is what they've been charged with. and against the united states as well as failing to disclose who they are representing, the foreign agents registration office. >> these are all reported events that took place before the campaign and do not involve his work is campaign chairman. it does suddenly become a real thing for this white house to have to deal

with. a guiltylso obtained plea from a former policy advisor george papadopoulos who was a 30-year-old unpaid advisor who admitted earlier this month in charges unsealed today, a series of overtures by russian officials to the trump campaign. and that will be a problem going forward for the trump officials to deal with. manafort in the system now and mueller can apply leverage to him. and tell him that if he wants to make a deal, if he wants to get out of jail free or a reduced sentence, he better provide information about someone close to trump or trump himself. this is the way it operates. the domino. prosecution. >> the bank of japan has left its to millis unchanged as it inflation forecast

from global peers. the decision was expected, so it's a big focus -- is the big focus here the inflation forecast? >> what is important here is that governor kuroda defended every aspect of their monetary stimulus. their super stimulus policies. he made it clear that he's sticking with all of them. he says he sees no signs of japanese stocks overheating. that relative to other markets around the world, they looked appropriately valued. that, again, etf purchases and yield curve control that involves buying bonds to keep the tenure yield at zero are part of a policy that is aimed at boosting inflation. , and all is necessary of those parts are going to be in place as long as it takes to reach 2%. we know the boj has shown flexibility. in october, they pulled back on their etf purchases. it clear. made

he has no sense that it is going to change yet. >> the fed stands pat and funds remain in the range of one to one and -- of 1% to 1.25%. made to the statement are minimal. the fed vice chair for supervision gives his first vote and joins in a unanimous decision. now it is all about who donald trump taps to be the new fed chair. wax the stuff you expect with normalizations after the hurricanes. the real meaningful changes here, the fed dismisses the in september and they upgraded their growth characterization from solid to moderate. into means they are buying what we've seen on gdp the last couple of quarters. ratekes in the federal increase in signal the conviction about rate hikes in 2018.

raisingank of england rates today for the first time in just over a decade. unemployment at a 42 year low, inflation running above target, and growth just above the lower speed limit, the time has come to ease our foot a little off the accelerator. to bek carney seems selling this as a movement of stimulus. even though this is the first hike in a decade, it is really just reversing the cuts that came after brexit. 7-2 was the vote we got from the mpc. thinking its was was going to be 6-3, but you can see from the market reaction, pounds sliding. also repricing in terms of expectation of further hikes. the market is interpreting this as a dovish hike. theone key thing off statement was something mark carney has said before. markets are underpricing the future rate hike path.

it was not in the statement today and also, highlighting the risk from brexit. two signs there that although we got a hike today, it is firmly dovish. >> a day late but a done deal, house republicans unveiled their long-awaited tax reform plan. >> with this plan, the typical family of four will save $1182 a year on their taxes. >> this is our opportunity to make tax reform a reality and deliver the most transformational tax cut in a generation. >> the entire battle will be fought on individual tax cuts rather than corporate tax cuts. lobbyists are working for the corporations, but the taxpayers are the voters. a are the people congress will respond to. democrats will claim a tax giveaway to the rich and republicans will claim this is all for main street. >> there is a lot of political will to get something done. there are potential headwinds in the house.

the small business trade association came out against the bill. it will be very key. tothey end up changing that a more supportive view. and also the senate, the vote in the senate could be very close. president trump: it is my pleasure in my honor to announce my nomination of jerome powell to be the next chairman of the federal reserve. congratulations. [applause] the beginning, he will be close to where janet yellen was. he supported the monetary policy actions that janet had undertaken. the gradualist approach is one that is very natural to him. >> i'm committed to making decisions with objectivity based in the long-standing tradition of monetary policy independence. >> a think it would be a mistake to try to push jay powell around. he is pretty solid. he's been working hard to study.

he's been around financial markets and policies since the early 1990's. part, hired by the jobs because he represents continuity. it suggests to me. president trump emphasized this, he also alluded to his private sector experience. his business acumen. the real world perspective. it could be a very unique perspective on financial stability concerns, which seems to be a mounting focus of the fed. with each new high in the stock market. he will be his own kind of fed chair. his business background will be something the most recent chairs have not had. i couldn't be more pleased with this nomination. i think jay powell is going to be an outstanding fed chair. apple out with quarterly

earnings, the company forecasting holiday sales that exceeded analyst estimates, suggesting strong demand and if supply issues for the iphone x. shares hit records and continue to rise in late trading. >> every quarter, people say there's no way apple can beat expectations. it is the end of 2017 and they are doing it again for five straight years. the numbers up year-over-year, revenues of $52.6 billion. iphone sales of 46 .5 million units, one million units more than this time a year ago. strong ipad sales. other product sales that means an influx of purchases of the new four k apple tv -- 4k apple tv. the most important number is their guidance. the first launch quarter of the iphone x and the iphone 8 and 8plus. is especially important.

they are forecasting revenues for that quarter and we will find out if this is true at the end of january between $84 billion and $87 billion should be an all-time quarterly record for the technology company. the13 is the estimate, previous number -33,000. we can now cross over to our economics and policy correspondent. 260 1000 jobs created in october. much less than consensus. unemployment.0 jobs created i 4.1%, that is the lowest since december of 2000. the reason for it, 700 and 760,000 people- out of the workforce. on the month, it brings the national average down to 2.4% from 2.9%.

>> the job number is noisy. down to 4.1% unemployment. when you look at the fixed number, down 1.5% for the year, we are bringing a lot of people back into the workforce. that is what president trump said he would do and we are excited. we are not seeing wage growth in the job numbers and that's why we need tax reform. still ahead, as we review the week on bloomberg best, an exclusive conversation with lloyd blankfein. plus all the big beats and misses in a whirlwind of earnings reports with spin. more of the week's top business headlines. bitcoin trading moves towards the mainstream. >> on a regulated platform over seen by the commodities trading commission. julie: this is bloomberg. ♪

julie: this is bloomberg best. i'm julie hyman. it let's continue our global tour of the week's top business stories in washington. representatives of some of the world's largest tech companies were grilled on capitol hill. tech under the microscope today. at this moment, lawyers from facebook, twitter, and google facing questions about russia's use of their networks to metal in the 2016 election. testimony they prepared was meant to show they were completely on top of this and ready to deal with direct threats. the questions from the senators seem to be poking holes in that. showing they really have very far to go. theyecond of all, before are prepared to handle future threats. the companies don't want to do anything to alter the nature of freedom on their platform.

they will be proactive and have better tech to look into this. they will be cooperating a lot more with the intelligence community in the future. but so far, we haven't gotten down to the specifics. >> china came out with its latest factory gauge, from a five-year high. the bar was set quite high and not quite in line with what we thought it would be. 52, a little bit below that. saw the drop, we is really around the medium-sized businesses. they break it down between large, medium, and small. the biggest drop was the medium-sized industries. the big i still feeling pretty good. slight slippage there. the inflation stories have really been the most intense. the other thing that jumped out is where the declines came with new orders. pullback inbit of a some of the year on your fx --

year-on-year effects. in put prices and output prices moderated. it is partly because this reflation story started a year ago. to look a little bit more moderate. talks to merge sprint with its own t-mobile u.s. unit it's a serious snag. this deal feels like it's been almost.ff for years, why is it off-again? they had a gute check moment that this deal was almost about to cross the finish line. and from deutsche telekom's perspective, there is concern about valuation. the state of a business that has been losing money for years and burning through a lot of cash. and from softbank's side, we won't have control over this anymore.

they've been saying all along that they were willing to give up control. cold feetto be having and second thoughts about giving up control. >> the movement losing steam. the former cattle and president and separatist leader went to brussels where he spoke to reporters. this government in relation to politicians true to the government need to guarantee there will be no conflict, no violence. the republic of all can't be built on violence. >> the idea was that they would seek asylum. citizens were allowed to seek political asylum. they put that to rest immediately when someone asks. case for anmake his independent catalonia.

and he seems to be preparing the scene for his party to run in the december 21 elections. >> mylan was down as much as 8%. just off the lows of the session right now. the drug companies president and executive director has become the target of a drug pricing collusion probe. date attorneys general say they are seeking to sue rocky malik as part of an expanded complaint. >> we have a group of 45 states that have basically said they had this earlier probe of a number of drug makers. they are expanding and going after the number two executive at mylan. this is different than a lot of the cases we have seen. regional managers, doing something. this is a senior executive at one of the world's biggest drug manufacturers. they are alleging widespread collusion on more than a dozen

drugmakers and more than a dozen drugs. consumersing american and it is a very big deal. cme getting in on a bitcoin action. the biggest exchange owner announced a plan -- cryptocurrency jumped to more than six to more than $6,400. >> it will be a regulated platform overseen by the trading commission. it will be under risk controls we have. so we know our margin rules are in place. we will have functionality with our electronic systems in place. those are all things that are completely different in a way the crypto's are traded today. >> people are seeing this move by the cme as an indication that initial investors will come into the sector. they have been largely staying on the sidelines because of the risk.

it will be able to hedge a little bit of volatility. we might see the etf get approval by the sec. >> the new york governor andrew, said the attack mirrored berlin and nice, to name a couple of examples. >> how is this going to impact the immigration debate? how will this impact the funding story around that debate as well? >> it is the date to which the government is currently funded. ahead of that, barely a month out, there will need to be a talk about how to prevent a shutdown. some say they want to have money to crackdown on illegal immigration and build a border wall. that was already going to be a fight.

pressure and a degree of urgency. showdown in areal couple of weeks. ♪

julie: you are watching bloomberg best. i'm julie hyman. goldman sachs ceo lloyd blankfein made news with his tweet revealing that the firm might be feeling anxious about london's future as a financial hub. #brexit. blankfein sat down with david westin for an exclusive interview. blankfein: we have to remove that extra stimulus. reduce the balance sheet. the big test will be to do it in

a way that doesn't shock us into a bad position. this is a little bit like moving in ends able, dangerous chemical. -- moving and unstable, dangerous chemical. transparency, again, is part of the implementation remedy to make sure everybody knows what is happening. so there is no sudden, quick, jerky move. but it will take a deft touch to do this. all the while bracing for the fact that there may be some bubbles that pop in places. money has been cheap for a long time. maybe it's gone someplace it shouldn't have. david: at the same time you are reducing the stimulus, we have a president, a republican in congress who seems bent on increasing fiscal stimulus. we have today the details of the republican tax plan. what does a good tax reform package look like? what does a bad one look like? have beenein: i involved in a conference so i

have not seen what has come out. there will be elements to it that i think is a little bit -- i can't say this is the moment where you would want the most fiscal stimulus in the market when we are kind of mostly forward employment, gdp is registered at 3%. that at the moment you provide the biggest stimulus. but a lot of people and the president think the economy can grow really fast. i'm not taking the other side of it. the economy can grow faster. there are things out there. maybe we could get higher than 3%. or if we sat at 3% and it was just a momentary -- that would be fine. a good plan would be something that -- look. kind of stimulation you could provide to the economy is confidence, peeling away redundant or bad regulation, to be frank. if you repeal all regulation,

that would be no good. you need a lot of it. you don't need redundant regulation or regulation were the cost-benefit is out of whack. where you restrict activity in the name of safety and takes away a lot of growth potential of the extra safety of the economy. and doing that kind of adjustment is kind of free. you're not spending money to achieve it. same thing with confidence and business confidence. those are the things that you really want to see. on the actual expenditure of money, taking less taxes, some more of it we could afford to have. that not so much of it that we make inflation inevitable down the road. julie: coming up on "bloomberg best," we will plow through a mountain of reports that came out this week including european banks. and we will revisit the most compelling conversations on bloomberg television. a proxyman talked about

battle he's been waging with adp. >> it is a great company, but that is really looking backwards. julie: this is bloomberg. ♪

julie: welcome back to bloomberg best, i'm julie hyman. another week of political noise around the world, and markets continue to keep it mostly in the background. ager indices once again hitting record highs. on bloomberg television, investors are looking at the larger picture. let's look back at some of the week's most interesting interview starting with erik schatzker's conversation with citadel securities global head andixed income currencies commodities paul hamill. they discussed the impact of impending banking rules. >> it will bring more trading to electronic venues, it will bring

more robustness to the market. a fundamentals pillar that allows customers access to new sources of liquidity. the new bilateral documentation structure, they can focus on who has the best price, where can i see the best execution. i would like to know what you're hearing from clients. do they understand the timeline on which they will be rolled out and how they will be affected? mr. hamill: i don't think is a level of understanding that people would like to have. i think that stems from the challenge that we face. we have two months to go. when you and i last spoke, we have seen enormous progress this summer. the trading mandate and the requirement to provide impartial access. there are a couple of critical areas that people are watching closely. erik: and those are? mr. hamill: and this is almost ironic. transparency is a core pillar.

and we have seen, almost by accident, some sort of flawed calculation under the european swapsthat would term most illiquid and they are not subject to any kind of transparency or reporting issue. it is the opposite of what we have seen in the u.s.. we are aware that is a challenge and we are working closely to try to resolve it. it is critical that he gets resolved because investors are paying for this. the cost that these implementations bring. if you get the cost of transparency with none of the benefits, it will be a long time before it gets fixed. it can be a very bad outcome for the institution. what is the business case for hedge funds given what hedge funds have delivered in recent years? a growing number of institutional investors seem to have for hedge funds. >> the case i would make for hedge funds starts with risk. client to have been able to

build thoughtfully diversified portfolios of hedge funds can end up with a portfolio that looks like next income levels of risk. but different risk. i think the case for hedge funds will be stronger in retrospect ofer we go through a period rising rates and get to a place where rates are higher. a place like this where we have seen low rates, shrinking rates, low dispersion within equities, it's been a challenge. that having been said, i think the fee model for many in hedge funds is broken. and i think the hedge funds in the future, there will be just as much unconstrained investing or less constrained investing than traditional. it will be done in a fashion where fees are more balanced between investors and clients. that is a good thing. erik: what is the right fee model for hedge funds?

it's not 2-20. mr. walker: people that do hedge funds as an asset class -- in my mind, it's a skill class. there are people of radically different skill levels competing in the notion that they all should get paid the same fees from clients is absurd. erik: should it be more outcome driven? mr. walker: i think that would be a constructive place to be. the folks that have been leaders on this for, the folks -- the texas teachers have been some of aggressive. the one or 30 model is an interesting one. there's no right or wrong answer. anything that generates closer alignment between our folks fundamentally delivering for and are they being compensated at realistic levels? not the levels historically as a bitcoin. look at the indices, the emerging markets index, the it's bigger in

emerging markets than even the u.s. and japan. which is quite remarkable. it's because of the incredible and packed of the smartphones being sold around the world. 70% of those sales are in emerging markets. >> that's in part because people can afford to buy them. mr. mobius: you have a phone being lent for $25. it's a loan you can pay off. it's quite remarkable. >> it affects markets and you have gone offshore on e.m.. look at how e.m. has performed this year. if you can break it down regionally, we have this terrific outperformance and emerging-market europe. in just behind that, the story of asia and was been happening -- , which group of currency do you want to get exposure to? i would probably

look at latin america. it using tremendous change taking place in argentina, brazil, of course. but they still have a long way to go. faith inn't have blind politicians to actually deliver on what they said they are going to deliver? given what has happened in brazil, if they can do 10% of what they intend to do, it would be a big revolution. adp will hold a shareholder meeting on tuesday and the company's proxy battle with pershing square capitals bill ackman will finally reach the resolution. in anng square is -- interview this week, ackman insisted that getting even one seat would be a huge win. >> i'm not seeking to be ceo of the company. they're wanting to add one to three directors to the board of the company. it will change the board.

it will bring operational experience, things that are not present on the board of directors. of take a position and casually suggest potential changes as opposed to going all out and waging war? mr. ackman: we are not waging war. we have stayed away from ad hominem attacks and accusations of the company that they've made against us. this is a great company. but that is really looking backwards. the company has fallen behind competitors. it's lost major market share in the enterprise market. a company with thousands more employees. other companies have taken away a lot of share from the company. his muchpany with financial resources and strong market position adp has had, customers that of been with you for a decade or more, it's not a good thing. the second component is the company has about 20% margins. about -- they could be 60% higher than what they are now.

this is a company that operates with a very old-fashioned organizational structure. leaders of management. 130 offices around the country. in efficient procurement. can bere the things that fixed. you can do it by making light suggestions. the culture of this company is very ingrained. our goal is to meet with the board. they forced us into a proxy contest and that is why we are where we are. ♪

julie: this is bloomberg best. i'm julie hyman. it has been another busy week for corporate earnings reports. let's get to the roundup of results. starting in silicon valley with

facebook. >> facebook reporting another quarter of record sales despite a tough week on capitol hill. revenue rose 47% more than $10 billion far above the top range of analysts expectations. mark zuckerberg said facebook is abuse. about blocking they are investing so much insecurity that it will impact our profitability. protecting our community is more important than maximizing our profits. >> they had a flawless quarter. expectation was to grow 40% revenue. every metric they beat. plus, monetization avenues for instagram looking stronger for next year. and market demand pretty strong. earnings is not the problem. the problem is the expense guidance in the light of the hearing, in light of the fake news issues they are dealing with. they are bolstering expenses aggressively next year. that is were the profit growth

slowdown is where you see it. >> alibaba was the success story, if you will, capping this year's $250 billion stock rally. just going to some of these numbers, the september quarter , beatingrew 61% projections of 50%. >> it was exceeded in the last two quarters by even larger beats against estimates. it is a case of alibaba managing expectations very well. fact, it was really more of an accounting thing where they are now consolidating the logistics of the business into their earnings. which means the top line at the sales level, it will be plunging on the sales level on the p&l. there is nothing really organic about this increase in the outlook. there is slowness, a bit of

weakness. other businesses, the entertainment business. the innovation business. there are growing at strongly right now. there are a few areas where it's a little bit cagey. samsung electronics, a lot of noise out there. not doing that much but it's been giving back to investors. the world's biggest chipmaker planning to double its dividends next year. profits going gang busters despite all the headaches, if you will, in the executive -- >> who needs management? it was estimated at 10 20 .8 trillion won. 62,000,000,000, trillion won.

are going to double that again in 2018. also,, they are going to more than double or nearly double that. >> hsbc's $100 million bet on asia seems to be paying off. --this is months before ceo stuart gulliver hands over the reins to john flynn in february of next year. >> the focus is continuing to deliver a not strong offering of services and products. including the overall capabilities. investment getting to reflect in the numbers this morning. >> will bet -- that be the

direction from here? less europe and more asia? >> i think they get three quarters of their revenue from the asia region. up 6% from the same period last year. the are pumping capital, investment, and a new headcount. it seems like the central focus will be in asia for a long time to come. >> a lot of people in the market looking for what comes next with the buybacks. is that something the next ceo picks up and runs with? >> they're leaving it for the next ceo, john flynn. a few things to sort out. european for all the banks, he's probably in the best position of any ceo. it's quite enviable. >> france's biggest bank, bnp paribas rose 8.3% to 2.0 4 billion euros. --modities fell 86%

>> in the past quarter, there was uncertainty related to the uncertainty in the market. that is why corporate's waited to see what was unfolding. and now we have see how it goes forward. it's not impossible with the clarification the ecb has given that it tapers off. you are relieved that the ecb decision and announcement last week? -- there willte be revolutions in the end of 2018 on the interest rate. so we will have to see how it unfolds. >> credit suisse's pivot to wealth management has propelled assets to a record high. , thets also accelerated

news coming as the ceo began shifting the bank from trading to focus on the asia pac asset management. a little bit cautious about the future, but overall, pretty pleased with his performance. >> there's no good pipeline. -- the problem is what constraints -- [indiscernible] a lot of good conversations, but you don't want to pull the trigger because of the uncertainty with the fed, the central banks, and north korea. [indiscernible] >> reporting third-quarter results that show 50.2% drop in net income. revenues on fixed income at france's second-biggest bake fell by 28% while equities and prime services revenues dropped by 19%. business has been more

impacted by the equities side. on the fixed income, we are pretty much in line with global economies. we have been more impacted due to our business links. we have business links -- [indiscernible] they are more substantive to low volatility. , -19% in theevenue addition of these two businesses. the negotiation between the u.k. and the european union is that it is concerning for us. and if there is no more precise direction on the beginning of next year, i would say the banking industry peers will have decisions make early in the scenario. [indiscernible] >> tesla shares plunging 5% in a market, the company reporting a

record quarterly loss and a massive cash burn. elon musk said production is still held. >> if it is one quarter and start to get back on track and sell the cars, which means they bring cash as they deliver them, it would be ok. point $5 billion of cash on hand. it's not like they are in danger of missing a payment or anything like that. but it's really the long-term or the medium-term view on this. you want to say this is a one quarter thing, not a big deal. their production to dante's divine comedy and talking about different players of hell. it might make the investors breathed a little more easy. >> the biggest advertiser company has cut its sales forecast for a second time in three months. wtp says revenue growth is expected to be broadly flat this year. >> are the challenges coming from search and social? are the challenges coming from

digital consultants? broadly, no. are the challenges coming from a focus on cost? particularly fmcg? yes. whether it is folks working on a contingency basis to cut cost or activist investors forcing companies that they are investing in or that they are potentially threatening with takeovers. we have seen that pressure in 2017 to a degree that they haven't witnessed really since the recession of 2009. hasurope's largest company reported a rise in third-quarter earnings. surpasss on track to its rival on cash flow measure. that hasn't happened in around 20 years. solid numbers, yes?

>> very solid numbers. 40% increase on adjusted net income. [indiscernible] $10 billion is enough to cover the, not to cover the dividend. it has been a very strong quarter for the big five companies. barrel -- they were able to generate enough cash. [indiscernible] it could look very well for big oil. ♪

>> have a look at where we are here in the equity markets. it shows you the monthly performance of asian equities. for the last 30 years. astounding, isn't it? not a single red month, if you will. it's the first time on record this deep into a calendar year that we have not been humbled by a marked decline in equities. 2017 has been weirdly fun for global investors. >> there are about 30,000 functions on the bloomberg and we enjoyed showing you our favorite. maybe they will become your favorite. here is another function qui

c. you can get timely takes and fast insight into topics. a eight used to be when colleague emailed you to say they are working from home, you may not have envisioned the most productive day. maybe he was doing personal chores. maybe he had a bit too much to drink. maybe he was just slacking off. >> what is your dad's job again? >> but telecommuting is legit. 50% of u.s. companies provide the option. it's often promoted as a next her perk to attract talent and allows company's to consider candidates in different cities or countries. our remote workers productive workers? here is the situation. even if telecommuting rapidly expands as an option offered by u.s. businesses, a number of early adopters are beginning to second-guess the concept. when discussions on to looking meeting began in the 70's, the

focus was less on productivity than it was on pollution. might affectat it cars -- companies with over 100 people in polluted areas limit vehicular commutes. it did not take off until the internet. dwindling real estate costs. between 1995 and 2009, ibm reduced its physical space by 78 million square feet. which created at least $200 million in annual savings. companies offer employees telecommuting benefits, some of the earliest become skeptical. after 20 consecutive quarters of falling revenue, ibm calculated its remote workers performed better in close proximity to their colleagues. in 20 17,000 of remote ibm employees received an ultimatum.

a move near an ibm office or lose their job. for its, once lauded approach to flex scheduling, changed. as did yahoo!. companies in the world group employees by job types. the growing trend is to group employees with various functions into teams. critics of remote work argue this structure requires a level of collaboration that simply cannot be obtained without face-to-face interactions. some bosses suspect that workers abuse remote work benefits to goof off. other hand, employees who telecommute are happier. they are also more productive. it might be true for only certain types of workers. is thet widely cited call center employees whose jobs requires little teamwork. telecommuting could now the gender pay gap by allowing mothers to balance childcare with work duties. one study

found a spouse working from home is given more chores. while certain aspects of telecommuting can be attractive to workers and businesses, just like anything else in life, everything in moderation. it included one of the most successful arrangements and some face time in an office. that was just one of the many quick takes you can find on the bloomberg. you can also find them at bloomberg.com along with all the latest business news and analysis 24 hours a day. that will be all for bloomberg best this week. thanks for watching. i'm julie hyman. this is bloomberg. ♪

>> "brilliant ideas," powered by hyundai motor. ♪ >> tate modern in the heart of london, at its core, the turbine hall, the biggest and most challenging exhibition space in the world. each year, the prestigious commission offers an artist a chance to take on this vast place and make it their own. this year it is the danish collective superflex.