>> coming up on "bloomberg beat," the stories that shaped the week in business around the world. global stocks in flux with investors on edge around the world. >> headlines about trade war, emergency powers coming into play. mean between that and the text. all this drama. abigail: tech take down. pressure mounts on c.e.o. mark zuckerberg. >> he said if i'm the right person to answer these questions, will i do it. but i have to be the right person. congress came back and said you're the right person. abigail: tesla tumbles. autonomous driving face as gut check. >> there is a lot of p.t.

barnum-ism. >> nothing is more important to than safety and the brand itself. >> the way we roll out the technology, votes confidence in consumers and regulators alike. >> around the world the u.s. stands with allies in giving the russian diplomats the boot. kim jeong unpays a surprise viss to the china. >> do i think it keeps going, this could be very disturbing. >> i hope the temperature will get taken very far down. >> we start the global trade. we could have an issue, impact. i.m.f. managing director tells europe to get it together in the capital markets. >> they came to close accountability, but it fell short of what is needed. >> straight ahead on bloomberg est.

abigail: hello and welcome, i'm abigail do little, this is the weekly review of the most important business news, aalcy, and interviews from bloomberg television around the world. let's start with a day by day look at the top headlines. the week began with western allies uniting to punish russia for the nerve agent attack on a former spy in the u.k. >> the west counting down on russia in a coordinated spobes to the alleged chemical attack in the u.k. earlier this month. the european president said 14 countries will expel russian diplomats. >> the white house has taken action to retaliate for the poisoning of a former russian spy in great britain. ordering 60 russian diplomats to leave the united states within seven days and closing russia's seattle consulate. >> the russians have been looking forward to seeing positive cooperation, what they got were these expulsions.

i think the kremlin is going to respond in kind. at the same time, i think it's lost a little bit more hope that they can find a way to work with donald trump after so much hope was expressed after mr. trump's elections. abigail: there is no shortage of superlatives for the game today. we have the s&p 500 making its biggest one day game since august of 2015. you have u.s. stocks rebounding sharply from their biggest weekly selloff in two years. >> to a certain degree what happened late last week was the trade issues and broadening out of trade. it wasn't tariffs. all of a sudden it was wider and the fear this would become something more significant. it almost got to the point where people were starting to suggest that president trump was no longer pro-growth, pro-business. but actually was the problem. that narrative changed. some of the news over the weekend, even this morning saying wait a minute, the chinese are willing to work with the americans on tariffs.

>> asian stocks following the united states, that's certainly the trend we've got here. remember the words from steve mnuchin, he said he was hopeful a deal could be done or reached with china. we understand president trump is trying to get the chinese to reduce tariffs on imported cars to open up the financial services industry. these stocks look more like the after deal. >> global equities are higher this morning after u.s. indices surged back from the biggest weekly round in two years. >> we had a period of volatility. two so far this year. from this starting point today, a little rally today frrks here could go higher before the next pullback. >> stocks lower into the close. a little off their session lows. you got the nasdaq down nearly 3%. whipping back from the gains we had yesterday. a volatile, volatile day. 10-year yields declining.

>> you look what's happened over the past few days, there was the big stock selloff. thecome back. oday felt different. -- the comeback. today felt different. the 10-year broke, that was the last straw for a loft these people who are traditionally risk off investors. i think it's just capitulating to the volatility we have seen. headlines about trade war. emergency powers coming into play. text.n that and the >> around noon the nasdaq started to tick lower. that led to selloff leading to the worst day for both the nasdaq and nasdaq 100 since february. that stands out only because last week the nasdaq 100 had its worst week since august of 2015. but on a daily basis, none of those days were as bad as today. the sellers are out. it really makes yesterday's rebound rally look like a dead cat.

>> mark zuckerberg has decided it is time to face the congressional music. the facebook c.e.o. will appear before the u.s. house energy and commerce committee to answer on facebook's role in the cambridge anna letica data scandal. this according to official family with the fans. his decision to appear before cock hasn't helped facebook stock very much which dropped by as much as 4% in trading on tuesday. that's on top of the over $90 billion loss facebook has seen since the scandal broke. what do we know about his appearance and what will he say? we know that zuckerberg has come to the terms with the fact he's going to do this. he said last week film' the right person to answer these questions i will do it. but i have to be the right person. congress came back and said, you're the right person. we want to hear from you. asia look. ng the sector breakdown is continuing to be tech that leads

the losses even though the tech quite in the u.s. was company specific stories. >> really being hit rattled by a host the factors. news around short selling on twitter, facebook concerns ongoing news. all of that adding up to concern around technology. that is spreading globally it seems. >> once again technology leading the way, but in this case kind of leading the way up and leading the way down. it's all over the place here 8%. the nasdaq off by . a mixed bag for the most part. >> you look at trading action like today, if you told me the curb would flatten, we would get the 10-year yield going down, .2 pressing cycle lows, and the bank index would hold up, still equity rising, textile selling off. it speaks to just how very much localized this is in terms of relate -- rerating of tech.

>> russia will expel 60 u.s. diplomats. and close the u.s. consulate in st. petersburg. >> this is a reciprocal action. russia he u.s. kick diplomats out of the u.s. and russia responding in kind. there are now something like 20 countries with the sanctions against russia for what happened in the u.k. so you see this sort of broad based response here. a couple of interesting points. one is that the president and this white house very much want to take credit for helping to bring other countries onboard in solidarity with the u.k. and that could mark some degree of a shift in terms of how publicly the president is willing to kind of push back on ussia. >> last minute gyrations here in the final hour of trading with the indexes peaking right at around 3:00 p.m. before pairing advance.heir

the advance. the nasdaq closing up 1.6%. still the best performer here for the day. >> the bonds have reprised. the volatility has reprised. the earnings will remain strong. valuations have come down. eric: still ahead, as we review the week on bloomberg's best, an exclusive conversation with i.m.f. managing director, christine la guard, and why she's urging european countries to spur further integration. >> many elements are there already. some of those documents. but they need to go a little bit further. abigail: first, more of the week's top business headlines. will a restructuring at the top stop deutsche bank's problems? all that and more coming up. this is bloomberg. ♪

abigail: this is "bloomberg best." i'm abigail do little. let's continue our global tour of the week's top business stories with china shaking up the oil futures market. >> the global oil market getting . bit of a shakeup, a wake-up china's own oil futures, shanghai international energy exchanges, the world's largest oil consumer offering the contracts that foreigners can can buy and sell. a first for them. the question we're asking is does this mean china will get a bigger say in pricing? >> this is massive win for china one. long-term can't expect it it to feature in markets. i'm not talking weeks, i'm saying months or the first year.

over the years ahead this is a really can't expect it it to fee big win. it helps validate the u.n. as up-and-coming rival currency. and indirectly it will help support the chinese bond market. it enhances the whole financial system in china. it's a very, very big win. they have taken a long time to get there. they wanted to wait until the right moment. big win. until they had full support. and they have that. this is big news even if it's very long term. >> the deutsche bank may be preparing to replace the chief executive. the bank's chairman has been holding talks with potential chief executive candidates, according to people with knowledge of the matter. why do they want to replace john? he's in the middle of this apparently new turn around push. at least he told me last time i spoke to him, it's taking hold. >> there have been a lot of voices over the last couple months saying cryan is not the right guy. some saying he is. let's strip that down. he stabilized the bank. that's no small fete -- feat, a

ot of people are worried about them running against the wall two years ago. the fact he's stabilized, dealt with the legal issues, bringing down costs, bringing up capital levels. those are all good things. but you do have the issue of can can can he return this big tanker to growth? >> major moves at deutsche bank. sources say germany's biggest lender is conducting a fresh review of its investment bank that could lead to deeper cuts across the trading businesses. >> what they are looking at is drilling down into the business to see where are we still competitive? that's why one of the focus points is the u.s. where they are facing very strong u.s. rivals. the question is do they still have the capability to compete with them? do we need to -- can we invest money to catch up with them, or is it simply too late? are we going to scale back? shows that poll,

prime minister shinzo abe pproval rating has fallen 11.7 percentage points to 32.6% over the past month. his disapproval rating has risen by 13 points to just shy of 55%. behind this is scandal over the sale of public land at a fraction of its value to a national school with links to is wife. a the former finance ministry official who rose to the head of the national tax office. he oversaw this questionable land deal that documents were forged. those are the words used by the foreign minister. that did according to the finance ministry remove the name of the prime minister, the prime minister's wife who was to be an honorary principal of that university, or that elementary. and also remove the name of the finance minister. >> today he seems to be playing

very well and still playing a sacrificial lamb. maybe this scandal may not be enough to put -- topple prime minister abe. i do see there are other scandals lined up. i think overall i think it's now becoming more likely that the prime minister will have to resign before the end of the year. abigail: kim jong-un did travel to beijing and met the president during a four day stopover. a pretty secretive trip. what do we know? >> we do know that kim jong-un and his wife spent four days in beijing. including the travel day. probably about two days. of course it's a very slow train that crossed from north korea into china. it's interesting because this is what the chinese media normally does. they do not reveal data -- details of such a trip until after kim has returned to pea

pyongyang. that's the protocol they used with his father. kim jong-un had never been it beijing since he was the leader of north korea. this is a significant one because it also gives china a chance to kind of consult with kim jong-un ahead of what is likely to be a summit with president trump sometimes perhaps in late may. >> we have the very first confirmation from kim that he would be willing to meet with trump. this is weeks after trump himself said that he was willing to meet with kim. we have that on the first point. secondly, as you mentioned, this commitment -- not a commitment, but a suggestion he's willing to discuss giving up nuclear weapons in these talks with trump whenever they may occur. that's a very significant step for a country that's about six months ago said it tested a nuclear weapon. >> bumpy ride for tesla,

understating it. shares down for a second day. at one point following the most in nearly two years following a fatal accident involving one of its vehicles. the crash only adds to c.e.o.'s list of challenges. >> investors are looking at it's tesla's the la's -- future. autonomous car company f. there is a big setback, we always have setbacks with tesla when it comes to manufacturing, if there's one with technology, that's a real problem long term. >> tesla urging workers to prove haters wrong. it's pulling out all the stops to hit its production goals. it's getting a limited number of workers the option to work on the crucial model three line. >> there was an acknowledgement within this email that they are not at a pace where they need to be to hit their target. they still have some ways to go.

yet again they sort of use this idea of we've got all these short sellers out here doubting us. let's prove them wrong. >> saudi arabia has urged secondary emerging market status from the ft-se from next march. it could attract billions of dollars of investment and help them move away from an oil dependent economy. >> this is recognition by the international investment community reforms that the saudi stock exchange have taken in the past 18 months to address the requirements of opening up the saudi stock exchange and pursue a more attractiveness platform for international investors. >> the biggest market in the middle east. we have recently added -- now we're adding q-, adding the saudi market now i think gives a

much greater exposure to the middle east. investors have shown a real interest. > talks to merge to create a new automaker trading as a single stock. according to people with knowledge of the matter. shares jumped as much as new automaker 7%. the chairman of both companies said to be driving negotiations and would head up the new combined entity. >> the complicated alliance, french government also plays a role, japanese government. that's the one to watch here. how will the french government respond to this? will they want to relinquish holding? does this water down their control? the alliance has been lopsided a. little skewed. -- lopsided, a little skewed. there's always something how to be done. by sort of merging them together now according to people familiar, probably the first big step to creating a big counter

weight. they want to play a key role. he has relinquished some authority over nissan to concentrate on the alliance. watch the continued strongman in this. and nissan will as a unified company be a formidable force. >> bar clays has agreed to pay $2 billion in civil penalties to settle a u.s. investigation. stephen morris is here, u.k. banking reporter for bloomberg news. waiting to settle this case paid off for bar clay's. >> that's right. most banks fell in line and paid whatever the department of justice asked. the bar clay's took a contrarian back at the end of 2016, decided say, sue us, take us to court. we don't think we should be paying any more money than this. it's paid off. we reported in october, 2016, they wanted to cap the penalty at $2 billion. that's what's happened. a rare gamble for a bank paid off.

♪ >> i'm jonathan with 30 minutes dedicated to fixed income. leverage has been building up over the last year or so. >> yes, we're seeing a bond because broadly yields are -- >> behind the curve to some extent. >> even the way the fed defines they are probably somewhat behind the curve. >> typical trade may be getting longer in the tooth.

abigail: welcome back to "bloomberg best." i'm abigail do little. this week -- doolittle. this week we sat down with i.m.f. manager christine lagarde. they met in berl lynn where she gave a lecture on strengthening the european union. the integration is still short of what is needed. >> why has european integration been so slow? >> i wouldn't say that. i would say that in times of crisis when there was necessaryity they eventually moved. the it was clearly incomplete and needed to be strengthened. they put up a firewall. they reinforced the banking

system. and i think they came to close accountability, but it is still short of what is needed. they need more trust, more accountability, and i think more to the point they need to really strengthen three things. one is the capital market. two is the banking union. and three is essential capacity that signals to the rest of the world that are shoulder to shoulder together and they will face the next crisis with that rainy fund we're advocating. >> under three points, especially on the banking union, capital markets union. it's been in the progress. it's in the making. will we get a real commal market -- combat market union and banking union in our lifetime? >> in your lifetime, yes. in mine, probably so. in tom's certainly. i think those are the two most likely to happen. capital markets union i think they are getting very close. i really do not think that they

should set the aim at closing and completing the job only when the bankruptcy law has been harmonized between the member states. that will take a long time. my suspicion is that they should set a few targets that would operate as a common basis, a common platform. many elements are there already. common prospectus. standardized documents. but they need to go a little bit further. i think it's particularly the case given what's happening on the other side of the channel. the fact that brexit is going to happen. whatever the transition period, whatever the terms afterwards. some of the financing activity will move to the continent. i think it's important that the euroarea be joined, properly operated capital market union. banking union might take more time. i think that there is one component where i believe the members are almost there. and that is this common fiscal

backstop in case of bank resolution which would be welcomed. if bank falls then the backstop has to be able to operate, if needed. it's going to be a bit more gradual, i hope it will happen is on this issue of the common insurance --common fossit insurance mechanism where -- deposit insurance mechanism where if a bank false the depositors are protected and they are protected by a mutual fund that is financed and operated by the banks to protect depositors. abigail: coming up on "bloomberg best," conversations on trade and tariff. business leaders from across sectors weigh in on the threat of a trade war. >> psychological impact of the degree of friction there is right now could be quite serious for markets. abigail: another exclusive interview. his time with saudi c.e.o. nassir. >> we should be as we always

say, as a company, in the second half of 2018. abigail: this is bloomberg. ♪

abigail: you're watching "bloomberg best." i'm abigail doolittle. in the days since president trump announced he would impose tariffs on goods imported from china, economists and business leaders have been weighing the consequences of a potential trade war with china. it was a topic of conversation throughout the week on bloomberg television. let's start with u.b.s. group armani who spoke with us at the china development forum in beijing. >> they start to get concerned, for sure. i think that for the time being, of course, the numbers are modest respect of the index. see the tensions on a

bilateral basis. potentially escalating. gad for growth. one for geopolitical reasons. while at this point in time we don't see financial markets this overly impacted by protectionism. i do think it keeps going, it could be very disturbing. >> the market selloff on friday was pretty severe. >> at the end of the day you look it's always difficult to understand if those are correction that is are coming as a consequence of those announcement or they are already doing as the market develops, but for the time being we remain constructive on growth. but as i said before, we have to

create rae and talation and particularly if he goes beyond china and the u.s. and starts to attach more countries that could become problematic. abigail: former treasury secretary larry summers says the dial downhina need to the rhetoric amid growing trade tensions. speaking of bloomberg, the china development forum in beijing, summers said tariffs may have a bigger psychological impact on the market. >> i don't think the trade sanctions need to have a large impact on the global economy. but the psychological impact of the degree of friction there is right now could be quite serious for markets. it's both matter of what actually happens in terms of tariffs and the psychology. i hope the temperature will get taken very far dunn it on both sides. >> that sounds like you don't think the chinese will escalate their counter measures. >> i'm not going to handicap what the chinese will do. i hope everybody will act with

restraint. >> do you think this was a temporary negotiating from the trump or fundamental? >> i certainly hope it's a negotiating stance. as ronald reagan said of nuclear wars, trade wars can never be won and must never be fought. >> what we're seeing how it factors in, does it change your compilation in terms of when you set policy? >> i don't think as yet the impacts are large enough to ffect the view on the fed. >> concerned about trade tensions between china and the u.s. as much as 90% of the products moved between the two countries. the c.e.o. says a trade war would affect global g.d.p. >> for us trade is absolutely essential. we believe in fair trade. we believe in free trade. if you look at the history there is no doubt if you want to trade , free trade is a very important driver. if you look at the example of

the mining business, it is absolutely essential. we have two key drivers for business. one is g.d.p., which is going pretty well at this point in time. the other is trade. let me give you an example. 80% to 90% of our product moves from one country to another. trade is absolutely essential. in light of the recent announcement of last night or during the night, clearly if you ask me i was concerned about trade, we're watching it very carefully for these reasons because of the importance of the global economy. if we step back, both china anti-u.s.a. are great trading nations. i'm sure they fully understand the rule of trade in terms of creating wealth. in terms of increasing standards. and therefore, i hope, and i believe that common sense would prevail at the end of the day. i just hope that those two countries sit down together and work out their differences. the answer is question. as you believe -- i also believe common sense will prevail.

clearly the next 35 to 60 days will be essential in that regard. >> i think for the international stability of the trading system, it's critical that china stop stealing intellectual property. not only from america but from the rest of the world. pernicious this practice, european and american company wants to go to china to sell into that market, guess what? it's a minority joint venture and surrender of their technology. that doesn't work for long-term corporate growth and earnings. so all the president is doing, all president trump is doing is asking for fair and reciprocal trade, free trade, fair and reciprocal so we can can have stability in this international trading system it. right now we have massive trade imbalances driven by unfair trade and he's going to change that. >> one final question. i hope you answer it it otherwise my producer will shout at me. let's try and go there. the chinese, the united states,

are going to unveil those tariffs on the chinese products. understand which products? high tech goods? >> certainly the focus of the tariffs are on what's called the china 20205 industries. china -- 2025 industries. china in my view brazenly has released this china 2025 plan that basically hold the rest of the world -- told the rest of the world we're going to dominate every single emerging industry of the future, therefore your economies won't have any future. artificial intelligence, robotics, quantum computing. all those things. and the section 301, which is on intellectual property theft and force transfer, is specifically designed to it address those kinds of things. i think the world should welcome that. europe is getting hammered by the same things. japan is getting hammered by the same thing. all we're trying to do is have trade piece where we can can have a regular free market

system where we don't have to worry about things like that. >> can you give us any clarity on what we're expecting here in terms of tariffs on chinese products or restrictions on chinese investment in the united states? >> the purpose of the whole hing is to try to curb the problems that we have found with ntellectual property rights. force technology transfers, partnerships. licensing. cyber security breaches. all sorts of problems that are designed to penetrate and vitiate the intellectual property rights of american high tech companies. >> is tariffs the answer? some would look at this and say actually a lot of the technology that they use is sold within china. and actually tariffs on incoming goods is not going to crack down on what we have seen. >> i don't think that's quite

true. ere are codes and things embedded within high tech situations that are not that easy to get from the outside or by designing backward from the finished product. if there were, the chinese wouldn't be requiring all the massive technology licensing and technology transfers that they do. the fact that they are doing that speaks for it itself. >> what is the message we're trying to send to china at this moment, mr. secretary? is the united states is preparing for a possible trade war here? or is it, look, we're ratcheting up the pressure but we want to bring you to the table to do a deal? >> i think it's something quite different from that. in terms of the steel and aluminum tariffs, the message was we're trying to protect our present. those are present day products. in terms it of intellectual property, the message is, we're

trying to protect the future. because the intellectual today is the important finish product of tomorrow. the message is very straightforward. we don't mind competition that's fair and square. regardless of where it comes from. we do mind competition that is on violations of fundamental intellectual on vio fundamental intellectual property rights. to give you a feeling how important this is, the u.s. patent and trademark office, is also part of the department of commerce, sometime this summer will issue its 10 millionth patent. there is no country on earth is department of commerce, that has never issued anything remotely like 10 million patents. that is the key to a lot of america's success is technological leadership. we cannot afford to have that

stolen or strong armed away from us. sir. nderstand, i feel like this strong arm, the aggression is coming from the united states to take action. that's the -- >> no, that's not strong arming. we're not strong arming. we're finally coming to our own defense against abuse that is have been going on for years and years. ♪

abigail: one of the big level deals of the year is the highly anticipated i.p.o. of saweda ramco there. have been reports of investors skepticism around the offering, possibly a delay until 2019. the c.e.o. is not concerned. nassar defended plans for the

i.p.o. in an exclusive interview with bloomberg's jonathan farrow. >> i think there is a lot -- that's why a lot of the questions and media coverage and what you see in the news is about i.p.o. when it will happen. it is a lot of demand for the lifting of saweda aramco in terms of performance, and the data will show when we go on the how we're highest oducer, most efficient, most reliable. this is reliable. this is a great company that -- >> when i speak to people, they are not talking about when this will happen. they are not talking about if this will happen. perhaps the whole i.p.o. just

goes into the deep freeze and doesn't happen at all. there is a lot of ongoing. the company, the government, all the paperwork to make it a joint stock company effective january of 2018. that's an indication that the ongoing. we should be as we always say, as a company, for listing in the second half of 2018. so we're doing a lot of work to prepare the company for listing. at the same time there are committees from the government that overlook what we're doing and the preparedness we're doing to make sure the company is ready for listing. >> do you have a set of accounts to u.k. and u.s. standards already? >> for what? >> the whole company itself. >> no. the only requirement for listing we'll of auditting --

be availing all the necessary documents it. >> it's not your decision ultimately when this will happen. >> no. trying to understand when this will happen. >> venue and timing is the government will decide on that. don't forget this is a very complex process. aramco size and complexities, something that require time. for a few there are a lot of venues trying to to list in. there's a lot of work that is ongoing to evaluate all that have and decide on the timing. >> fresh skepticism following it the fatal crash of an uber last week. car the theme dominated the conversation at the new york international auto shore where we asked car executives about the fuhr of autonomous vehicles the theme - future of autonomous

vehicles. >> the tragic incident in arizona for uber's fatal zeant with the autonomous driving story. do you see the regulators putting the brakes, excues the pun, on the efforts to develop that technology? >> i think the first thing our sympathy with the tragedy in arizona. the first thing we do believe in the technology. where everyone is getting lost they are looking upon this as a race. who gets to the moon faster. we don't view it as a race. we view it as making the car and automotive environment safer. we have always been ones to express caution. a lot of p.t. barnum-ism and speculation. we should be cautious, slow, and methodical. at audi, if you look at the testing. we always test with two engineers, one behind the wheel and one in the back seat. yes this is an environment where you need to work with consumer understanding. you need to work with regulators. it's not a sprint. getting it right is what winning is to us. and we think we can and will get it right.

>> i think many people share that view as well. to what extent many of these sort of developers have had free reign on public roads to develop this technology. >> i think that's what you're seeing in arizona right off the bat. and i think the best thing with regulation is to have absolute transparency. they need to share the data. they need to see the data. to me the biggest word we keep using is trust. do the regulators trust the technology? does the consumer trust the technology? and of course can we deliver? i think that's the ecosystem that you're seeing sort of broken up a little bit right now. the other thing we need is we believe strongly, you do need a federal standard. that will get away from a lot of this each state coming up with different initiatives. clearly caution is the name of the game because you are talking about people's lives. that's what we always said and will continue to say. >> where is ford right now with

respect to autonomous vehicles? we saw the deal with jaguar. do you wish you had done that deal? >> ford is one of the top companies. we have invested in argo in pittsburgh. they are developing our robot driver. the what's different about ford's a.v. is we're developing an exclusive product. based on hybrid technology so we can run the vehicle 20 hours a day or plus. that will be unique for automated use. we're betting on not just moving people in the hailing service or goods. we're working with partners like dominos, lyft to develop those business models. we're right in miami right now not only mapping the city, but also running the business model .ith drivers in the car nonautomated cars operating those services and the drivers can't leave. they are simulating the experience. boy, are we learning a lot in miami. >> do you it anticipate more regulatory oversight now, the safety of these a.v. vehicles?

>> the accident is really unfortunate. the reality is ford's a 116-year-old company. nothing is more important to us than safety and the brand itself. for example, we have two safety drivers in every one of our argo vehicles. really important for us because it is a new technology. and we do have to testify on public roads and most difficult situations. we're learning a lot. we're taking every precaution we can to protect not only our customers, but also pedestrians. >> jaguar land rover making waves at the new york auto show. a new autonomous project. the first all electric offering from the luxury unit. by ralph, the

jaguar land rover chief executive officer. why did you choose waymo? >> by ralph, the jaguar land rover chief mobilit. we have a clear vision about mobility. this mobility cannot be done in isolation. modern mobility needs to partnerships. partnerships with company. but also across industry. 're leading in the electric, electrification and look for partners who lead in their respective fields. at the end of the day the mindset. share your vision. the vision about mobility. and therefore two partners are coming together, creating something special. creating something new. >> some might say your announcement sun fortunate given the recent tragic news we had tesla.uber and does your -- do you slow down the rollout of this ride hailing service that waymo wants to it

implement? >> no. not at all. from my point of view we're doing everything on the side of the car manufacturer. car outstanding in this line and performance. and delivers everything in the segment of security you can expect from such a premium cost. on the other hand, waymo has most advanced data algorithm. and data security systems. this would be a very good pace to develop this kind of services in the future. >> chinese consumers in the past, when there was tensions, historical tensions, with japan or south korea, they boycotted some of their cars. are you concerned about what a trade war between the u.s. and china could entail for chinese consumers? >> i think a trade war is not going to be welcomed by any

businessman. the reality of the matter is that free trade is really the growth engine for raising prosperity levels around the globe. in order for free trade to be sustainable, it fundamentally needs to be based on fair rules of trade. and there i think is a universal truth. >> there was a tragic interdent involving uber and an autonomous vehicle last week. i know general motors is very active in this area. do you expect that lynn crease the level of regulatory oversight and may slow down the process? i know general motors, this is an important priority. >> and cad lick specifically has been extremely conservative in their rollout of semiautonomous and autonomous technology. we fundamentally believe that beta testing and development is to be done in a controlled environment in the hands of experienced engineers not in the hands of consumers. if this means that we have a slower rollout, then so be it.

we are one of the leading proponents of autonomous capability. and i think given the stature of general motors, we have to be very, very circumspect precisely for the relation you articulate to ensure the way we roll out the technology bodes confidence in consirmse and regulators alike. -- consumers and regulators alike. ♪

>> i'm jonathan with 30 minds dedicated to fixed income.

this is bloomberg. leverages has been building up over the last year or so. >> yes, we're seeing -- broadly yields are up. >> own a curve to some extent. >> even the feds define they are somewhat behind the curve. >> typical trade -- cyclical trade may be getting longer in the tooth. abigail: a look at the i mac on

bloomberg. highlights the spots in red and green. red indicating the technology, worse performers here off by 2.9%. a big slice of the market because it is the biggest components of the market here. >> abigail: there are about 30,000 functions under bloomberg and we love to show you our favorites. maybe they'll become yours. here's another function you'll find useful. quic go, it will take you to our quick takes where you can get fast insights into timely topics. here's one from this week.

abigail: 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. i'm abigail doolittle.

thanks for watching bloomberg television. this is bloomberg. ♪

>> the following is a paid program. the opinions expressed do not reflect the opinions of bloomberg's l.p., affiliates, or employees. >> the following is a paid presentation for suse orman's financial security now. brought to you by time life. >> you work hard to give your children something to build on. >> i was always trying to think how am i going to get through college? >> i want to have a mechanism in place to make sure my daughters are well taken care of. >> i hope to leave my children with something to help them get set up. >> don't let it get eaten away by unexpected fees and legal expenses. >> my husband did