see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit, or go to xfinitymobile.com. carol: welcome to "bloomberg businessweek." julia: we are inside the magazine headquarters in new york. carol: focused on the year ahead. julia: 50 companies that could make waves in 2018. carol: high profile newsmakers. julia: shaping decisions. carol: this is "bloomberg businessweek." ♪

>> we are here with the editor-in-chief, megan murphy. it is all about the year ahead. you talk about it in your editor's letter. can you believe we are done with 2017? megan: are we? [laughter] carol: not quite. megan: so much is going on. having come from washington to be the editor-in-chief. the political year, around the world. so many things in 2017 that we would not have predicted. in 2018, people doubled on -- and will predict things. the most interesting thing -- in 2018, we are going to double down and predict things that may or may not happen. regardless of where you stand, you have seen tremendous destruction, tremendous populism, things we might not like to see sometimes. an underlying label about

economic growth, lifting cards, we are on a bit over a rising tide. whether that will be screwed up we have yet to see. things might be better than you think. carol: is that what you want readers to walk away with? megan: i want readers to walk away and think that i have learned a lot of new stuff about stuff that is happening sooner than i think, things that are realistic, electric cars, microchips, new ways of delivering energy. the kinds of stuff we are good at. i want to take a step back and take a breath and said, 2018, your we come, we are going to make a difference. 2017 is over. focus on what brings us together.

julia: in that vein, the year ahead, you talked about all of we face, whether central bank politics. megan: i think that what we really look at in this breakdown is the trajectory for a positive 2018 in terms of growth broadly. some subsectors, south america and africa. huge risk. one thing that a lot of us have been amazed with, we have talked about it time and time again, geopolitical risk, the immense geopolitical risk that we've is, whether brexit, germany, the u.s., mexico. it has not been the destabilizing force we expected it to be in terms of backing the economy all caps. fundamentals are strong. western democracy on the rise.

back in areas that have been on hit, southern europe. that said, 2018 could be the year about geopolitical risk does not aspect. tensions are real. i find it hard to believe that 2018 will go by without some big incident, without something happening, most likely in north korea or asia, possibly the middle east. those regions are so unstable. what will be interesting to see is if we bet everything on a rising trajectory of growth, or whether we will have something, on the geopolitical front, which knocks us. carol: we got more on what is growing in the economy. >> we have been complaining for years that we have subpar growth coming back from the crisis. we did. the international monetary fund had to say it looks like another sluggish year. this year, in the forecast that came out for 2018, they are

saying not only did 2017 turn out better than we have expected to be, but 28 is going to be good as well. by the way, bloomberg -- but 2018 is going to be good as well. either way, bloomberg staff economists concurred. we used the country by country for 2018 because bloomberg has been building out its set of forecasts. let's use the homebrewed forecasts. julia: homebrewed. one of my favorite lines is even the germans are happy. [laughter] julia: so the story for 2018 is how do we manage the asynchrony is growth around the world. whether the fed, the ecb, or china. >> exactly.

if you are in the zero lower bound, interest rates could not go lower, it was pretty clear. you keep rates low. by bonds on the long end of the curve. fiscal policy, tax cut spending. you throw all of the ammunition at it that you can. when the economy starts to normalize, now you have a two-handed problem. on the one hand, all of the central banks are facing this now, the federal reserve is the farthest along because the u.s. economy is the furthest along in its recovery. on the one hand, you do not want to kill off the recovery by prematurely raising rates. you do not want to be behind the curve and raise rates too late and allow inflation to kick in. that can be hard to expunge. at this point, we still want more.

but the projection is that if things keep going the way they are, we will go past the 2% target. julia: creating an image was the job of the art director. talk to us about the front cover and how you want to grab the reader. alex: we want to give everybody a feel for a wide range of topics that are in the issue and what people can expect for the year ahead and what we are looking at and projecting going forward. it covers all of our usual topics, from technology to politics to economics, the full breadth. carol: it does remind me of

already being, also of reading all of the stories, there is so much going on in 2018. alex: i think we have an idea of what we are looking at. carol: after a busy 2017. alex: we want everybody to know that we are looking at it. julia: the themes year, brexit, china, cybersecurity. we have talked about that a lot. will. alex: electric vehicles, microchips. of course, the presidency and u.s. politics. carol: up next, what 2018 could run for president from. -- could bring for president trump. julia: technology company's to brace for censorship in china. carol: this is bloomberg, the year ahead. ♪ ♪

♪ carol: welcome back to "bloomberg businessweek." julia: you can find us online at businessweek.com. carol: and on the mobile app. julia: in the politics section, a look at what president trump's 2017 might tell us about his 2018. carol: our editor. >> pretty much everything has been a failure. if you look at his campaign promises, draining the swamp, building the wall, none of those things have been accomplished. this is to say nothing of the russia investigation. it has been a historically bad first year in the oval office for president trump. when you look over the past years, you could put him in the top 20. carol: when you look at things

like infrastructure and obamacare, appointing staff, did he do it? >> though, i do not think so. part of this is also, the unanswered thing i have been saying lately is a part of this strategy of draining the swamp and limiting the scope and size of government in the lives of american business. but when you do not appoint basic people to get things done, you are not able to get your policy done to begin with. carol: and also, you are not appointing people but you have appointed high level people that have resigned or left the white house. but is not a part of the plan. >> we always knew there would be a learning curve for this president. we did not realize how stupid was going to be. how much self-inflicted problems, how many self-inflicted wounds he would cause himself on a daily basis

in terms of messaging. when you see the press secretary walkout and fight this rearguard battle every day. julia: he has also created tensions within the gop itself. it is quite eye-opening and we have seen high-profile resignations. saying they will not be up for reelection. what extent do those problems continue on into 2018? senator, the tensions he has created this year. matt: the only way to save the second year is to look at the past and know that the failures of the first year haunts the second year. especially when it comes to taxes. but have a ticking clock of thanksgiving that they want to do something on this. without the establishment wing of the party in congress, you're

going to have a hard time doing that. our writer megan is a fantastic job walking through -- does a fantastic job of walking through the problems. you can't envision a scenario where he gets serious and does some -- can envision a scenario where he gets serious and does some major policy, that you struggle to believe the scenario. carol: 2018 is shaping up to be a year of the tribeca cracked -- year that china cracked down harder on u.s. tech companies. julia: especially when it comes -- a year in which china will crack down harder on u.s. tech companies. >> the states regulators are already pursuing a much more aggressive crackdown on a website that they consider offensive in some way, for a wide variety, including political reasons. this past spring alone, shuttered 4000 websites according to the state regulator that were presenting erroneous views, in parlance, or some

other way. they have also looked at the country's main internet companies, tencent, alibaba, to help solidify this crackdown. carol: that is fascinating, that they are looking at their own companies to help with the crackdown. it is kind of interesting. >> yeah, and in a bunch of different ways. perhaps it sounds crazy to someone who has been studying the prism case in the u.s. or around the world but it is nonetheless striking for its level of companies and how pervasive it can be. tencent has over 10,000 users or close to that point. when the know will -- nobel peace prize winner died in chinese state company, the first ones and settler's germany, the service was flooded -- first one since's germany, the service was flooded with images and they

managed to block it in short order. they have drawn boundary line to censoring images of winnie the pooh because it has a strong comparison. carol: one thing that i liked him this story is a line saying that president xi cannot not understand the power of the internet. that is why he is so careful. >> absolutely. xi's life was pretty well for by his company's victimization by mao's communist party and he has become quite a control freak in terms of controlling the flow of information. carol: looking ahead to 2018, what should we expect? more of the same? even tougher?

>> placed on the party conference, it seems that now that he -- based on the party conference, it seems that now that he has solidified control, companies should expected to get worse before they get better. some companies are already making concessions to china. carol: because they want to be there. >> they are responsible to shareholders based on overall user growth, for example. it is hard to have over a billion users with markets that home pretty mature. -- at home that are pretty mature. linkedin has begun to allow regulators. julia: up next, central bank leaders get ready to play

musical chairs. carol: an investing tightened tells us what he sees ahead in 2018. julia: this is "bloomberg businessweek: the year ahead." ♪

♪ julia: welcome back to "bloomberg businessweek." carol: you can listen to us on radio on sirius fm and in new york, a.m. 1330 and 106 one in boston, 90 11 in washington, d.c., and the bay area. julia: and in london and in asia

on the bloomberg radio plus app. carol: 2018 will see a new central bank appointments in the u.s. and potentially in china and europe. julia: more on what to expect. >> we will see three of the major banks start to withdraw stimulus. actually, two. japan will continue for longer than everyone else. that will be a turning point for investors, for economies, for companies, especially in europe which have received support from corporate bonds. it is going to be a big point. carol: you sound so mellow. we are talking lots of money.

>> trillions. carol: the banks of purchase to get liquidity, make it easier within the global economy, and now we are stepping back. >> it has been a moment that people have been waiting for for a long time. it does not mean that we will not see different things that we have seen in the u.s. and europe as well. there has been a great deal of communication about schedules and the pace of banks. in the u.s., we have done it. october was the first time that the fed it a portion of bombs to mature without buying new ones. -- bonds mature without buying new ones. the tcu also set out a new one. -- ecu also set out a new one. we will see a moment when on a net basis there is less stimulus going in and that will probably have affect. -- affects. julia: what kind of affects are you alluding to? the transparency is there, they are trying to do it slowly, trying to avoid the inflation. gently does it seems to be the theme.

cristina: it is. for investors, we have tthink about this flood of money bidding up stocks and bonds which is unprecedented. we are going to see, now that there is a pullback, what happens then. we talked to one investor who said that even though we know what is supposed to happen, it is going to hurt. it has to hurt. that is one measure that it is working. and from an economic point of view, the real test now will be -- we have gone a decade without knowing whether these economies can stand up on their own. we are taking away the crutches, saying, walked. that is going to be a big test. julia: megan murphy has talked to us about the resilience and how optimistic she wants to be

about 2018. does the global growth by and large we have been talking about offset some of the stimulus we are retracting? can we make that argument? fundamentals are going to get again, ready. -- kick in. cristina: we are certainly in a better position than we were, say, six months ago. japan is looking pretty well. the latest figures in the u.s. were positive. in europe, we see even countries like spain that have recovered the gdp of a loss to the crisis. from that standpoint, but who knows. julia: in the economics section, the ceo of a private equity firm gives us his take on the outlook for inflation. >> he is very optimistic. they have a front row seat. he says front row seats to the show, the show was going great. in the u.s., things are shrugging along.

it is one concern, is the house, is that the market is trotting along while there is still uncertainty in terms of politics and social dynamics. and he is also scratching his head a little bit about the state of inflation. he sees so much inflation but not that underlying cpi, the real inflation measures. that is a bit concerning as well, to see a disconnect. carol: can we take a step back, because there are private players, he is a big deal. they are one of the major players in pe, and they have investments in airbnb, consumer retail, burger king. natural resources, health care. >> very great snapshot. so it is interesting to see where they are spending a lot of

their timeout. a lot of that is in technology. you mentioned airbnb. they are in airbnb, uber. jim talked a lot about these dynamics that are making him excited about technology, and it is all about disruption. they are based in san francisco and they have a front row seat in the dark growth and they have ingrained themselves in that world. we have seen some dynamics, the big one that he is thinking about these days is the shift in consumer spending dollars for material things to experiences. carol: i used to think this was an empty statement, but we really have seen different spending friends. >> we have seen them put money behind the trend. her example, recent investments like cirque du soleil, they acquired in the past -- one example, recent investments like cirque du soleil, they acquired in the past few years, he says they have the same ticket volume as broadway. you do not see it because it is not only one place. another is viking river cruises and ocean cruises.

people are spending money on experiences and especially the experiences that they can share. carol: community driven. >> exactly. he says that concerts and live events are things that he did not understand before why they are becoming so valuable, that he sees millennial's, and all age groups, seeking out experiences that they can share. it is fascinating. carol: up next, the biggest national security threats according to general david petraeus. julia: what it might take her companies to take the threat of hacking seriously. seriously enough to make changes. carol: this is bloomberg businessweek, the year ahead. ♪ retail.

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no one else lets you do that. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit or go to xfinitymobile.com. julia: welcome back to "bloomberg businessweek." carol: still ahead, it will give a potential post ices world and what to expect in iraq and syria. -- looking ahead to a potential post isis world and what to expect in iraq and syria. julia: all of that and more up ahead in "bloomberg businessweek." ♪

julia: those year ahead edition of "bloomberg businessweek" absolutely littered with stunning interviews. one of them, former director general petraeus. carol: if we look at 2018 was an area with potential risk, he is an expert to talk about looking at the hot areas, which will be north korea and the middle east. you know, he backs the trump administration and what they are doing and trying to force china to be the active player raining in north korea. as we know, that has not worked, it has not worked as well as one might have thought until now, and that is because china's biggest fear is that we will see the disintegration of korea as we know it and reunification. that is something they do not want to happen.

putting pressure on china potentially becomes better in 2018 because president xi has just come off this congress. he is been widely thought of as the most powerful chinese leader for decades. the can make real changes in their global outlook and their military -- he can make real changes in the global outlook and their military outlook. there are a lot of exit the basket and that is what i am looking at -- eggs in that basket and that is what i am looking at in 2018. carol: was there a part of the world he thought would be the most important? megan: i think north korea but he is also looking at the middle east. one interesting thing that he said is that as far as we have, against isis and the islamic state, we will always confront

virtual challenges. it is very hard for us to mobilize against lone wolf attacks. they are so sophisticated on the internet now in how they recruit, train. even if you dismantle it in a very traditional military, physical way, territory, ground, tanks, troops, the virtual war with groups like the islamic state and other groups is almost harder and more powerful in terms of their resistance. i think that is a really important point. carol: let's talk about cyber hacking and cyber warfare. how that is going to spill into everyday life. megan: max is fantastic about these things. people think about their credit as a target but really the biggest threat is these mass infrastructure attacks like the kind we have seen in europe and in particular in ukraine, which are believed to be russian orchestrated. it's like taking down an entire power grid, the way that they measure medicine for people. serious infrastructure attacks. are we ready for that?

we have seen isolated attacks but they seemed more exploratory in terms of what good people do if they tried. we did a real deal one of people taking out our electrical grid, when you think about trying to take out telecommunications, whether we are prepared for that threat is something that max goes into. max: in fact there were two attacks, one in kiev and one in western ukraine. in both cases, the power went out. but obviously happens all the time and cities in the developed world, the developing world. this was new because we believe that hackers turn the power off. they were able to use a trojan, which is a kind of malware, to break into the ukrainian infrastructure and turn off the lights for people that are far removed from the front where the actual fighting was going on, which is actually in the eastern

part of the country. that is significant both because it was the first time the packers have sort of moved into the physical world in a big way but also as a piece of psychological warfare. because if you are sitting in the capital and you think that the war was far removed from you and everything that you care about and someone reaches all the way to your home and turns off the lights, that is a new feeling and it is a scary feeling. there is reason to believe that in the united states are parts of western europe could be next. just a terrifying possibility. carol: let's take it from there. you take a look at what it means for cyber hacking in 2018. what are people expecting? max: the thing that people are worried about israel are seeing in the news every day, the russian discussion around fake news and propaganda -- worried about is real and are seeing in the news every day, the russian discussion around fake news and propaganda. there is reason to think that there could be an attempted attack or further intrusions on part of our infrastructure.

julia: did believe the russians were behind the ukrainian attack. to what extent do we believe this was a test case. max: the security company fire i says that they have found the same code in the united states. there have also been other types of malware and types of things found on other computers in american infrastructure. the sort of working theory is that it is possible that what happened in the ukraine was either a test in terms of trying to see, what exactly would it take to take down an electricity system, or it is a warning shot. to say, this is what we are capable of doing. it is interesting that the international community has not moved to condemn this, did not do that much, which sends a message to the restrooms that

-- the russians that maybe they should try something bigger. maybe a bigger attack, maybe in the united states. julia: you are talking about equifax, something bigger. max: you should look at what happened in the ukraine this year. it looked like a ransomware attack, done to steal money. in fact it was to destroy data. in destroying that data, they took down huge swaths of the country. the ukrainian security expert told me that the country ground to a halt when this happened. there are lots of ways were data breaches can spill into the real world. to give you another slightly scary possibility, a group of iranians were charged recently with having broken into a dam near new york city. there has been russian malware

found in nuclear plants, basically all over our infrastructure. and the government has been worrying about this because we have not been doing a great job protecting it and that is why it is concerning. carol: up next, will the biggest ipo happened next year? julia: what happens to sales when electric cars lose tax incentives? ♪

♪ julia: welcome back to "bloomberg businessweek." carol: you can find us online on businessweek.com. julia: and on the mobile app. carol: investors around the world are wondering if 2018 will be of a that they go online. julia: and become the biggest ipo in history. >> 2018 was the target and it looks tight. there are basic questions that remain unanswered, mainly, much is it worth it to mark they say $2 trillion -- worth? they say $2 trillion but some analysts say a trillion is more like it. the question is, where are they going to list this thing? they are down to new york or hong kong. each one has advantages and problems. you will get the highest valuation in new york, you have accounting and regulatory issues. london might be more easy legally. but you worry about the valuation. hong kong, less legal things but a lot less money and capital that will be willing to invest there. julia: what is the ceo saying about it? >> they are very cagey. they say they are on track for 2018 but when pressed they say it will be up to the shareholders. who are the shareholders?

right now, it is the government. i think that they realize how quickly that they are going. perhaps too fast. this is arguably the most important thing that saudi will do for the next hundred years so they do not want to miss this up. they want to -- mess this up. they want to get this right. smart people think that 19 is more realistic. julia: getting this done as a big part of the grander vision for saudi arabia. talk to us about that. there is pressure to get it out into the market. >> vision 2030 is a huge economic revitalization reform plan that, mohammed bin solomon, now he is the crown prince, the is 32 or 33 years old, his nickname is mr. everything. he has purview over the economy, military, security, and obviously politics. this is his brainchild.

you have seen western consulting firms get a piece of this. he wants to push saudi arabia push into the modern world. with oil prices crashed, the tide went out and exposed all kinds of problems inside the saudi economy, which again is basically driven entirely by oil. this is his plan to kind of diversified the economy. the idea is that by soliai even 5%, you raise along the order -- by selling off even 5%, you raise on the order of $50

billion. the most valuable ipo in the history of ipos. you take that cash and diversified it, throw into infrastructure projects in america, a big stake in uber. he thinks of himself as the millennial lefty is, really. he is trying to get -- millennial that he is, really. he is trying to get saudi on the same level as places like dubai, where, you can drive where you are a woman. that specific point, we have seen that rolled back recently where won are going to be allowed to drive. he is keenly aware of how saudi is perceived globally is not a place where you necessarily want to put -- as not a place for you necessarily want to put a lot of capital unless you want to invest in crude. carol: in the retail section. julia: worried about what will happen to sales next year if washington kills a tax incentive. >> it is going well, but it is 1% of the market. what you have seen or three car companies selling most of these vehicles.

tesla, the big brand name. they have the model x out there, selling for a lot of money, cool cars. everybody wants a piece of the elon musk brand. investors or consumers moderate -- admire it even if they do not buy the cars. nissan mgm have bought lower-priced -- and gm have brought out lower-priced cars regularly for sales in california. that is what those vehicles do, the nissan leaf and the chevy bolt. most of the sales have been tesla, which is by far the biggest player. you are going to see the growth over the next five years because both companies are in the market. getting them sold is another matter. capturing the checkbooks of a lot of consumers.

julia: i am glad that you brought that up. i want to understand how it works in the united states. how much demand is fueled by tax credits from the federal level? how do they work, both for the consumer and the car companies? >> they are pushing car companies to sell them and consumers to buy them. on the consumer level, there is a credit to buy an electric car. if you get a hybrid, it can drop down to $2500 but that is the money you're looking at. in 11 states, 13 now, there are texans engines from $1000 to $5,000. -- tax incentives from $1000 to $5,000. carol: that is going to fuel momentum in terms of juicing up sales of e.v.s.

david: they had quite a bit to do with the momentum. if you are buying a tesla s, that might not make you buy it, although i would argue that somebody who can afford a $145,000 car is shrewd with their money and would take the tax break. to illustrate, georgia had a tax credit of $5,000 if you years ago, and they got rid of it in the summer of 2014, and the month after, they sold fewer than 100 that month. and they were selling 1400 a month. at the time, the most popular e.v. on the road, the only one of lower-priced, was the nissan leaf.

that kind of government incentive on a sticker price of 30,000 or 35,000 makes a big difference for a car like that. carol: up next, jeff koons expands beyond the gallery and into retail. julia: companies you should be watching next year. ♪

♪ carol: welcome back to "bloomberg businessweek." julia: you can also listen to us on the radio on sirius fm and in new york, in boston, in washington, d.c., and a.m. 960 in the bay area. carol: and in london and in asia on the bloomberg radio plus app. julia: in the retail section. carol: internationally renowned artist jeff koons talks about his collaboration. >> jeff koons, the superstar artists whose works have sold at auction for more than $58 million, a record for a living

artist. recently he has been doing a bit more market. if you call louis vuitton the markets. several thousand julia: -- louis vuitton downmarket. several thousand dollars for a purse. he has been doing collaborations involving leonardo da vinci and so on. carol: they are interesting, aren't they? >> you certainly are. as somebody who goes to art fairs, you see collectors carrying them around. carol: doing into why he did that, it is a more mass appeal, versus his artwork. or is it? >> that is the question that i have asked him. he maintains that two things are a part of it.

he is somebody that adamantly does not believe in art for art's sake. he believes in pleasing the viewer and giving the viewer to feel that they have come away from the experience better in some way. it is less about what he wants to do for himself and more about what he can do for somebody else. which is eye-popping sculptures. the thing about a jeff koons sculpture is that, like it or hated it, considerate kitsch or high art, it is eye-catching. they are incredibly shiny or colorful or weird or playful or simply massive. he has this 40 foot high sculpture of a dog made out of flowers. i mean, you can say a lot of things about it but you cannot ignore it. i think he -- i mean he said to me that he tried to take the same approach with his purses. at the collaboration with these purchases. he wanted people -- with these

persons. he wanted people to look at these things and enjoy themselves and get a sense of art history with them. carol: i feel like he takes the great masters, in terms of artists, and gives them a whimsical play with the bags which is what he does with his art. >> completely. the other fun tidbit which is anecdotal -- he did not say this to me in the interview but there have been photographs of his homes in the past and he almost is lucidly collects old masters and dutch still lives. -- almost exclusively collects old masters d dutch still lives. this has become more public through his purses. carol: bloomberg intelligence identifies the 50 companies were

of special attention in 2018. julia: for a whole host of reasons. in some cases it is because they are about to announce significant products or services. in others, it is because they face unusual challenges. carol: let's get into the retail group. you put gap in there. they have been troubled for a a while. >> as our analyst saw, and looked at this a little more, they really do seem to be in the midst of a turnaround. what they have been challenged by is fast fashion. that is one of the travel interest. trying to speed up their production and getting products onto the floor as quickly as the h&m's of the world. while they are not quite there with that degree of speed they are definitely doing that. you see fresh products coming in and styles that shoppers are more interested in. you know how fickle young shoppers can be. something has clicked with that. there is a slight flowing away, we have all seen it, the constant discount.

40% or even 60%. +not to say that there are not trouble spots, but the gap itself seems to be turning things around. have a great campaign coming for the holidays that harkens back to musical act campaigns in the late 90's and early 2000. i think there is some excitement around that. carol: in litigations, we talk about qualcomm. you included qualcomm on this list. this will be a make or break your potentially. >> what is unclear is how long this will play out because the litigation is several lawsuits filed by apple against qualcomm. this goes to chips and iphones. counter suit by qualcomm talking about pet and infringement, trying to brought -- that and infringement -- that and

infringement, trying to block the sales of iphones in china. it has been a drag on qualcomm. that might spam into 2018 and could be problematic which is why qualcomm is on the list. we certainly see companies with litigation and that is always a challenge. we tend to s a lot more of those companies in the technology space. whether licensing issues, a whole range of issues with those kinds of companies. chip companies, handset companies, the blackberry suit that we write about. carol: you did cover everything. entertainment media, companies, pharmaceuticals. >> we do. we have interesting will ones like -- interesting ones like spark which is a new company but is close to receiving approval from what our analysts say on a therapy that helps with a hereditary retinal disorder. there are expecting that imminently.

there is so much promise around that that this is one that we feel deserve to be on the list. carol: there are so many drug companies, whether or the drug or a small -- orthadrug or a small segment. >> we are seeing it with cancer and small treatments like this one. typically, what you will see with pharmaceuticals is a must unless they are engaged in lawsuits, they are landing on these lists because these therapies, which are quite promising. carol: "bloomberg businessweek" is available on newsstands right now. julia: and online and on our mobile app. setting us up for a jampacked 2018. carol: what happens to the country in terms of growth going forward. a great look at companies like tesla.

a lot to discuss. julia: and, donald trump. what will 2018 bring? more bloomberg programming next. ♪ ♪ is this a phone?

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♪ lord king: it is difficult to exaggerate the severity and importance of these events. not since the beginning of the first world war has our banking system been so close to collapse. francine: mervyn king was at the epicenter of the biggest exercise in crisis management in modern financial history. he was in charge of the bank of england in 2007, pumping billions of pounds into the