♪ erik: coming up on "bloomberg best," the stories that shaped the week in business around the world. trade tensions escalate. the u.s. and china go tit for tat on tariffs. >> they are in this for the long haul and they are playing hardball. >> i don't believe we will have an all-out trade war. >> this is not a trade war, there is no war here. erik: the new york fed names a new leader. his counterpart in atlanta offers a path for monetary policy. >> i think we're getting closer to the lower bound. at that point i think we need to wait and see and see how the market response. best response. erik: spotify goes public, amazon comes under fire from the white house. it is a challenging time for tech and facebook's sheryl

sandberg puts it in perspective. >> security is always an arms race. you build, they try to misuse. you build, they try to misuse in a different way. erik: it is all straight ahead on "bloomberg best." ♪ erik: welcome, i am erik schatzker. this is "bloomberg best," your weekly review of the most important business news analysis and interviews from bloomberg television around the world. the world's two largest economies spent much of the last month circling the ring and the world's one true heavyweight battle over trade. the latest round began monday with a jab from china. >> china hits back. the country's previously

announced tariffs on 128 u.s. goods take effect today. that is in response to the trump administration's tariffs on steel and aluminum. china is urging more trade talks to prevent greater damage to relations and the white house just said that china should not target fairly traded u.s. goods. >> this is china's response to steel and aluminum tariffs. we are waiting on the u.s. publication of what the u.s. is going to single out for tariffs in terms of intellectual property. the chinese did, along with the tariffs that they put into effect today say that we would rather do this through negotiation than through confrontation. >> we certainly find ourselves in what seems to be the middle of a storm right now. we don't know they it will blow over or if it will pick up and get worse from here.

i think what we have seen from the markets today obviously is that they are being jolted around by some of this news. i think they got a thick skin to some of the rhetoric from trump but little action on the trade front. now we see a lot of action both from the u.s. side and the chinese had and we can see that reflected in the markets right now. >> there is the finish for the first session of the second quarter. it has been a tough one. the dow down by 2%. the nasdaq erasing gains that we have seen for the year as well. >> a new leader for the new york fed. john williams is coming east. beginning june 18. >> john williams is a widely respected monetary economist. he has been the president of the san francisco fed has a doctorate in economics from stanford. he is an expert in monetary policy but the new york fed announced that it was going to have a very wide, broad and diverse search for a different kind of leader and they ended up with another white male. that will be some question. but also, the committee says when you put up a list of the things that you need in a president, john williams stood out far and above all the other candidates. including in making diversity work.

>> he pioneered the neutral rate concept which is key to monetary policy now, he has been looking at price level targeting for example. the biggest rap against john williams is he is not a factor. -- a banker. he lacks market expertise, his entire career at the fed or in academia and of course, this is an important position because the new york fed oversees these big banks. >> overnight, we had an exchange of trade sanctions during as if a child with the u.s. moving forward on tariffs on $59 in chinese imports including things

like semi conductors, lithium batteries, tv components and china came right back and said we will find $50 billion that we can put tariffs on and those tariffs included things like soybeans and aircrafts and automobiles and chemicals. >> let's give the chinese some credit here. they've really done their research and knew exactly where to put these tariffs to cause the most pain for donald trump's constituents. soybeans are a big factor in iowa and a lot of the states that donald trump won in the last election. they are being very strategic. the chinese have a very long-term deal. they are in this for the long-haul and they're playing hardball. >> next they pulled out all the stops. people did not expect them to go with soybeans, such a huge trade

and one that is so important to china as well. it affects them if they don't have that access to u.s. soybeans. it is $14 billion per year. from the rhetoric we are hearing, it seems to be a ploy to get the u.s. to come and talk. >> it is one of the days were markets and politics are mixing big-time. it has been a rocky ride after a sharp drop at the open. stocks have been crawling back throughout the day. >> the treasury market was calm in reaction to this. the credit market was calm in reaction to this. even the dollar was calm.

so what we really had was that that there was a bit of risk reevaluation within the equity long-term, most of what we knew would happen has pretty much happened. >> stocks in the green but, oh boy, are they volatile as 700 points for the dow. the bond market simply watched. >> the world's two biggest economies showing willingness to come to the negotiating table. investors seeing the tariffs as more rhetoric than reality. >> i think right now we are locked in a traditional game of chicken. >> there is no trade war. there is no trade peace either. >> can call it a trade battle, a trade discussion as opposed to a natural work. quite a lot of people needed larry cudlow state the obvious. the white house said yesterday remember, none of the tariffs have been put in place. these are all proposals. >> it is a game of chicken for both sides because they wanted to have the other side believe that it is a credible threat. while at the same time not scaring investors. we have the same sort of reaction from larry cudlow from the chinese investment to the u.s.. he said that negotiations would still be our preference but it takes two to tango. we will always stand for consultation and negotiation but if other things do things in the wrong direction, we will have to respond to. >> larry cudlow was on a mission

to calm concerns surrounding tariffs and trade. >> here in the u.s., we will it up for comment for a couple of months. i don't want to pinpoint a deadline. that is bob's area. i would just say that nothing is around the corner. there will be a big discussion of that. >> it is a bad cop good cop situation where larry cudlow is the good cop and bob is the bad cop? >> there is been intense pushback from republicans on capitol hill. he went on to state that he believes and the administration believes that the relationship between the united states and china has been so taken advantage of by the chinese that they feel that this type of back-and-forth is just an opening bid. >> the united states and china ramped up their trade rhetoric overnight with president trump calling for new tariffs on another $100 billion of imports from china. the chinese government responding it will "follow suit until the end, no matter the price." >> the thinking among analysts and economists is that china may move beyond the world of tariffs and into the will of nontariff barriers. they may target existing u.s. investment in china. there is a sense that we are now going into uncharted territory. >> this is a moderate, tempered

approach that we are taking. it is moderate, temperate and proportional. this is not a trade war, there is no war here. blame china for not playing ball. don't blame the president. he is standing up for american companies and businesses. that is my take. i don't see how i could communicate that more clearly. >> the economy adding 103,000 jobs in march, missing the economist estimate. the unemployment rate holding steady at 4.1%. average earnings rising by 2.7% and matching estimates. >> i think this is a weakish report. i think this would make -- in light of the global trade situation that we see on an overnight basis. we're just going to have to see. i think that the fed would be cautious going forward. my forecast has always been for one or two hike 2018 kind of year. >> jerome powell speaking at economic hub of chicago. we had for the back end of the session. he did reiterate that further gradual rate hikes best promote the fed's goals here. >> this is where the has been in the one question was about the tariffs.

he said it was too early to tell. we can know what the impact is going to be. he mentioned that some business contacts are telling them that it could be a problem and that some of the uncertainty is weighing on them and that you can never tell why the stock market is anything, but my guess is that are some people that were hoping this talk in washington of upsetting the economy might lead the fed to back off. he basically said we are steady. >> holding the line. erik: still ahead as we review the week on "bloomberg best," more on trade tensions from leaders and policy and finance, and how bad a trade war would be for the global economy. the elon musk made a joke on up on twitter but there's nothing funny about tesla's production problems. >> you know the problem is not in need of her, it is in need of process. >> this is bloomberg. ♪

♪ erik: this is "bloomberg best." i am erik schatzker. let's continue our global tour of the week's top business stories with e-commerce giant amazon. again, it is the target of a twitter fusillade from the white house. >> president trump has upped his attacks on amazon in a first

round of which this morning saying only. this will be change. also, are fully tax thing retailers are closing stores all over the country, not a level playing field." senator marco rubio has said economic monopolies will require close monitoring. could the justice department go after amazon? >> i think under the existing laws it would be very difficult. it would be an uphill climb. the laws and the body of law as

cases have gone to the court really set a high bar in difficult standards to meet that prove a company is a monopoly as contemplated under the antitrust laws. that is why we see some because by democrats for a change in the laws or a reassessment of the antitrust laws to better apply the way they would say to this kind of companies. >> april fools.

after the worst month for tesla and seven years, elon musk jokes it is electric carmaker has gone bankrupt. "despite intense efforts to raise money, including a last-ditch sale of easter eggs, we are said to report that tesla has gone completely and totally bankrupt." that is what he tweeted. >> it is not funny for the tesla investor right now. there is a widespread

expectation that the company will not meet their forecast for ending the first quarter making about 2500 model 3 city sedans per week. even if they get close to that number, there is a lot of skepticism about the production surge that method at the end of the quarter being at all sustainable going forward. >> tesla shares rebounding today. the stock rising as much as 8% before closing the day up nearly 6%. in the end it fell short of its self-imposed production target for the model 3 but analysts say tesla's performance wasn't as

bad as feared. is that good enough? >> no, not good enough. >> time for a bloomberg exclusive, apple is planning its own chips in mac computers starting as early as 2020. the move would take processes from intel. >> it is a significant move or apple. it is very much a defining moment for the company. it is them saying we don't need a partner to do the main engines in our most expensive and fastest computers. we will be able to do it ourselves. apple has never been a company that was to stick to other people's roadmaps. they want to do things their way.

this will let without going forward. >> apple is pressing into the future. the company is working to bring touchless control and curb screens to their iphones. curved screens? >> yes. >> what is this? >> it will look percent of the - each smartphone maker, but probably needs to try to push the boundaries a little bit. the issue apple has is is that the leader in the screen technology is samsung. samsung is the competitor so it is playing catch-up. apple said many times they don't always want to be first in the market for something but they tried to be best. >> we heard from facebook's mark soderberg on a conference call

with reporters and we learned that the cambridge analytica problem may be worse than we thought. investors are already weighing in on the consequences with a substantial reduction in the market cap of the company. something like $90 billion it has gone down. >> the stock is down 20% from its high. this issue has affected the whole tech industry in general but the whole issue of regulatory risk for these companies. what we are seeing from them as we talk to investors, the expectation is that there will be an increase level of expenditures in the company to deal with data security.

you'll see margins in the near to intermediate-term facing margin pressure. what we have not seen his any real issue on the revenue line. advertisers are still with the company. >> jamie dimon envisioning the amazon of wall street, the jp morgan ceo said in his annual letter that the bank could grow almost everywhere. incomes, consumer banking, investment banking, you name it. walk us through how big they want to be in all the different areas.

>> oligarchs are among those hit in the latest round of u.s. sanctions against russia. sanctions were levied against seven seconds, one who has been linked to former trump campaign manager paul manafort, also sanctions 12 companies. 17 government officials. the other names leaked to the forefront in the wake of these sanctions? >> the oligarchs, big names. >> victor vekleberger, the tycoon and several other names and then expect of players that do not seem to be as close to the kremlin as others. at think the big shift here is that until now, the u.s. had not sanctioned businessman for being close to the kremlin as it was written into the law last year. this is the first wave of targeting people close to the kremlin in the business sphere. ♪

♪ erik: welcome back to "bloomberg best." i'm erik schatzker. rafael bostik was named the president of the federal reserve bank of atlanta last year and. he is a voting member of the fomc this year. after the fed's march meeting, he envisioned as few as two and as many as four rate hikes in 2018. he sat down this week for an exclusive conversation with michael mckee.

>> i do think that there was an initial expectation about inflation at the beginning of this year that got priced in. we have kind of backed off that a little bit. i think some of it is priced in but i think also the markets are doing the same thing we are, trying to wait and see what the numbers come in at and the dynamics of credit to make an assessment about where inflation is. >> the headline was already at 1.8%. houston we get to or go over 2%? how far over 2% would you be willing to go? >> i think as you said, the train is going in the right direction. i think we would hit 2% sometime in the next quarter or two, i am

comfortable going about the 2% to some amount, 2.2% or 2.3%. i do think that is a crisis of overheating necessarily. i think it is also important that we take a stance to say that everyone understands the 2% level is an average and not a feeling. i have some concerns that we have been below for so long that if we go to 2% and do a hard stop to hold it at 2%, that will send a signal that we really need 2% as a ceiling. i think that would be unfortunate and not helpful in terms of where we want inflation expectations to be. >> you said maybe two more rate increases to get us to neutral and then pause and see where we are. but what is neutral to you?

>> for me i think neutral is somewhere in the 2.25% and the 2.75% range. a lot of the baseline analysis that we have done suggests that your risk-free rate is pretty low right now and it has dropped over time. i think we are getting close to the lower bounds of this. at that point i think we need to wait and see how the market responds. we have been in an expansionary and accommodating position for a long time. i think getting us back to neutral is something that is a priority. it should be a priority. i think the fed's funds level, we are in a good place on the trajectory. we are also unwinding the balance sheet to a more neutral position as well. i think that would be quite helpful. >> are you seeing the neutral rate move up? >> it is possible. that is something we are definitely going to look at carefully to make sure we understand how these dynamics play out. i think that as the economy strengthens, as inflation gets higher, there is a possibility that free rates could increase. but we will wait and see how that plays out. erik: coming up on "bloomberg best," more of the week's top business stories. including plenty of merger talk and a little action. plus, are the u.s. and china really entering a trade war? and a little action. plus, are the u.s. and china really entering a trade war? we have expert insight from around the globe. and emily chang talks with facebook's sheryl sandberg at a critical moment for the social media colossus.

>> i feel deeply personally responsible because there are real mistakes that we made and that i made. erik: this is bloomberg. ♪

♪ erik: you are watching "bloomberg best." trade dominated the discussion on bloomberg. let's revisit some of the most provocative conversations, starting with henry mcveigh. he gave me his view of the u.s.-china situation. >> it is pretty clear the market thinks the trade war is bad.

what do you think? henry: it is friction and economy -- in an economy where we wanted borders to come down. that is what china integrating into the global economy, going all the way back to wto in 2001. i don't believe we will have an all-out trade war. my view is that global trade actually peaked in 2007. nobody is talking about that as a percentage of gdp. it went up from 1984 two 2007 and since the great financial crisis it has been shrinking. i think this is about the u.s. was comfortable when china was the exporter to the world and the low-end manufacturing. since they announced their china 2025 plan, they have been moving up to the value-added goods.

that is a threat to u.s. intellectual property and it means they in source more. that is what they are trying to do to create a larger domestic economy. some of this to me is not ask -- not unexpected. president trump was saying when you look at the u.s. trade deficit, about 80% comes from two countries, mexico and china. china, it is two things, technology and apparel. the u.s. is not going to do anything on apparel. within technology, they are allowing no tariffs on personal computers, which is the low-end, but they have gone after things like semi conductors at the high end. i think it's about the high end. i think this is an opening salvo. i think we have opened a new era between china and the u.s., but i'm not expecting this to be what you saw announced in the past 24 hours to be the endgame. i think it is opening of negotiations. >> is unfortunate trade tensions are rising at this moment were global recovery is being

supported by trade. for the first time in a long time, trade is growing faster than global gdp, and in that way it is spreading recovery around the world. the trade tensions, one has to understand, they arise because people feel as though trade is unfair and trade adventures -- traded ventures being gained by other countries. -- trade advantages being gained by other countries. we have to understand the dissatisfaction that is leading to these trade actions as a reason. at the same time, we think the differences of view should be settled through a cooperation under dialogue, and that that is the way to make sure that trade continues to grow, that market access increases, but on a fair basis, and that way everyone can still gain. >> do you think the administration's approach to china has been a smart one so far on trade? >> what i know best is agriculture.

agriculture have had, you have to go back to the 1950's when agriculture did not have a surplus in trade to the united states. agriculture has been the backbone of trade the united states. you start a trade war with china, agriculture will lose. that is what i believe. they are an important market to us. as far as i can comment, i think that could be hurtful to u.s. companies and the u.s. farmers. >> we have watched investors scratch their heads about the additional announcements both

from the united states and china. what do you think and what are clients thing to you? >> clients want to know the uncertainty that terrorists in the prospect of trade protection of the -- of trade protectionism posed to the outlook. is that something they should be counting as a downside risk that counteract the upside tailwind? of course, it's difficult to quantify exactly what kind of

economic output impact at this point, desktop about trade protectionism is having. if they follow through what impact that might have on gdp. there are effects that can impact the economic outlook, even if they don't follow through. all of this uncertainty, all of the market volatility, even if you don't have any skin in the game. say you are an average american who doesn't have stocks and bonds. you are looking at market, and that uncertainty, you have your finger on the pulse of the stock market each day saying, is my firm going to hire? is my job secure? what's going on with the u.s.? volatility can affect every american household. francine: should european officials square with trump to try to get a better deal with china? >> yes. i think they have to, because there have been several examples of chinese companies stealing intellectual property. machines have been tipped into china, but under a different brand, and this is illegal. -- machines have been shipped to china, put under a different brand, and this is illegal. tom: what will bring discipline to the president's message? canada larry do it or does the dollar bring discipline to the message?

>> i'm not sure they will be able to convince them to change tact on protectionism in china. if anything, some of them are economic nationalists and security hawks. i think the discipline will eventually come from the markets. we have seen how this rise of trade tension has led to a significant market correction, 10% from the peak in the last month or so. if this were to escalate, you will have more of a correction. at the end of the day, i think there will be more market discipline rather than his own advisors. erik: this week, we learned if the privacy lapses of facebook or even worse than initially reported. the social media company said data on as many as 87 million users may have been improperly shared with cambridge analytica.

emily chang discussed the biggest ever crisis to hit facebook with its chief operating officer, sheryl sandberg. >> this is going to be a long process. we are systematically looking at all the ways facebook that is used. we are going to tell you about them. we will shut them down. this is a forever process. security is always an arms race. you build, they tried to misuse, you build. we are committed to this for the long run. emily: mark has taken responsibility. how much do you feel personally responsible? sheryl: i feel deeply personally responsible. there were mistakes we made and i made. when you take a step back and think about what has happened,

for a long time, we were focused on building social experiences. a lot of good happen because of those. when we found problems, we would shut down that problem. the specific case of the sharing that happened with cambridge analytica, that was shut down. what we didn't do until recently and what we are doing now is just take a broader view, looking to be more restrictive in ways data could be misused. we also didn't build our operations fast enough. that is on me. we had 10,000 people working in security at the beginning of the year. at the end of this year, we will more than double to 20,000. we are massively investing in smart technology, and we are doing all of this to make sure we get to a place where we can proactively protect people data. emily: facebook has constructed a model that leverages personal data that users share with facebook, and you are the chief architect of that. assuming the business model will evolve as a result of the

changes, how will that impact the bottom line and profitability? sheryl: we have never run this company for short-term gains, and we have never run this company to maximize profits. we have run it for the long term health of our community and business. we announced two quarters ago in earnings that these investments

are big and will impact profitability. that is ok with us. it's the right thing to do. we want to make these investments. we will update at the next quarter. emily: mark has been asked if he's the right person to lead. do you believe he is? he says he is, do you agree? sheryl: i believe deeply in mark. he had a vision for what social services and social sharing could be, and that vision remains important. mark, me, and all of us take full responsibility for what is happening, and we are making an important shift. we will keep building social products, because sharing is important to people all over the world. he will be much more proactive. i'm not going to sit here and say we won't find more problems. we will. we are going to continue to find problems. we will continue to shut down situations when we find them. this is a for everything. security is an arms race. this is something we are signed up for not just now but on an ongoing basis. ♪

♪ erik: you are watching "bloomberg best." let's resume or roundup of the week's top business headlines with the big news on the big deals. rupert murdoch hopes you pay regulators will approve his company's acquisition of a satellite broadcaster, sky. he is enlisting disney's help in clearing that hurdle. >> disney, ready to help tony first century fox acquire sky. disney, which is planning on buying most of fox's assets, has offered to purchase sky's news business to soothe concerns over murdoch's control over british news media. will this appease regulators? >> i think it will. we have various options on the table from fox. they have offered to give sky news an independent editorial board and effort a separate company within sky. we have the offer of disney biting -- biting --buying sky news.

all of the options out there, and will -- and distal be a significant firewall between the murdochs and sky news. >> does this mean that the comcast bid is dead in the water? >> i don't think so. we are waiting for them to make their formal offer to sky. comcast is still in the game, but it does seem fox and disney, their bid is making progress. comcast needs to get the moveon with its own offer. -- get the move on with its own offer.

>> walmart's health insurance, humana, said to be exploring a wide range of offers, including a merger. >> it seems less likely that walmart would out by humana and elect to strengthen their existing partnership. they have already work together on insurance products and maybe do something to bring people until the walmart stores and build on what they have. >> what is that mean there won't be multiple -- how does that work? >> to be clear come a we don't know what exactly these companies have planned. neither company has said anything public about what partnership might take. from what we are hearing from sources, you would more likely have a joint venture. we are not saying that is off the table completely, but it seems less likely. >> cbs has started negotiations on the future with viacom.

we know cbs has made a below market bid and had ideas on management. either they are together, apart, or together again. what is going on? >> right now, they are pretty far apart. the ceo of cbs, who has done great things with the company, also sherry redstone, whose family business controls both companies, she didn't want it to become about the personality. she wanted this to be about a special committees of the two companies getting together to decide whether this was a merger worth its merit. now, it has become about that, because it has come down to price and management. >> a food delivery giant in china close to final agreement, acquired by a company. but with this acquisition mean? >> the shareholders have approved this deal. ,ei willtuan acquire fully the shares of mobike. also assuming $700 million of debt. the company after this will allow mobike to have existing managers to stay on.

the ceo will also stay on. >> police in california say woman shot injured three people at youtube's headquarters. before she killed herself. >> right now we know the alleged suspect is deceased of a self-inflicted gunshot wound. the police chief revealed that in a press conference this afternoon. three victims are all alive, at san francisco general hospital, one in critical condition. we don't know what is behind this, but it has everyone shaken, because a lot of these buildings in silicon valley aren't well protected. how can you protect against

something with this? it took people by surprise. >> fears of a potential trade war eased a little but yesterday on news that the company -- the trump administration is pushing a preliminary nafta deal next week. after that, trump said he might pull out of the deal altogether. >> trying to push ahead to get an agreement in principle. but the president could announce at the summit of america's next week in peru. that is possible, but there is to work to be done. it isn't clear whether they can get there or not, but apparently

the canadian and mexican negotiators are going to be meeting with robert lighthouses in washington this week, and we do another round next week, trying to get this wrapped up. >> the u.k. is biggest country yet to try to address the gender pay gap. firms and britain have until today to report wage disparities and expect 9000 companies are legally required to report the differences paid to male and female employees. what do they have to disclose? >> it's around 9000 companies. bloomberg has a graphic tracking all of this. it seems like most firms have complied. but they have to disclose is the mean and median hourly pay for men and women, there for the difference -- therefore the difference between the pay. they will have to report the proportion of men and women being paid a bonus and the women and men and each pay quarter. it hasn't shown how much a man

and woman are paid comparatively for the same job, but it showed women are generally paid less. there is a lack of women in the top paying roles. 19 out of 22 interest trees in the top a quartile, less than 50% women. >> deutsche bank once zame to sit on its supervisory board. what is the shakeup of the supervisory board mean for deutsche bank's direction? >> people had time to digest, and the feedback wasn't so great from german analysts. people said zame is a symbol of the old world of finance. that is one worry people had.

other people might say that deutsche bank is deepening the bench of finance knowledge on it supervisory board. that could be a good thing to get a better grip on the kind of business the bing does and the risk they will be doing and the changes coming for them. >> bunch of big investors are scouting for a new chief exec -- chief executive. today, we have learned investors talked to bank of america's christian meisner. does anyone want this job? >> we seem to beginning the same, everybody is thinking this is going to be a hard job to do. if you look at how deutsche bank has been trading, they have had this turnaround plan last year.

they were talking about their big capital increase, they wanted to ipo their asset management unit. they have done all of those things. it seems like they are lagging to their peers and competitors in some of their biggest businesses like stocks and bonds training. -- stocks and bonds trading. it is down. >> samsung reported higher than expected profit for the first quarter, thanks to strong demand for its memory chip. operating income coming in at a $14.7 billion. what contributed to that? >> we are seeing broad demand for memory chips, which are used in smartphones. as well as increasingly in servers, the power of the cloud services we use. that was the main driver and continues to be for samsung. even after a lot of challenges over the past year-and-a-half or so.

♪ ♪

♪ >> a new function allows you to see all of our charts on the bloomberg. you can catch up on all of the key analysis for future reference. erik: there are about 30,000 functions on the bloomberg. we always enjoying showing you are favorites. maybe they will become your favorites. here's a function you will find useful. quic lead you to our quick takes. here is a quick take from this

week. >> opec has functioned as the textbook cartel. the 14 members of the organization produce 40% of the oil used every day, giving strong influence over oil prices and the global economy. like a championship boxer who has dominated in the ring for decades. in its more than half a century of existence, opec has fought off challenges from new technology. the group is up against the ropes now, as the u.s. produces record supplies of shale oil and the planet begins to embrace renewable energy. to stave off the competition, opec has cut output. this strategy has succeeded in the past, but will it work now? production cuts by opec and its allies give prices a quick boost in november 2016. it didn't last. the real question is whether opec and prop up prices when the u.s. continues to increase production. here is the argument. opec's agreement to cut output includes several nonmember countries, which should help it

regain control over crude oil and prices. some forecasts suggest oil consumption will continue to rise in the next 20 years, which would seem really benefit opec and its allies. it's unclear how the strategy will play out, even though we'll has risen since june 2017. analysts are divided over whether the cartel would succeed in eliminating be supplied what it has affected prices. plus, with increased innovation in her noble energy, oil consumption may peak sooner than expected. they could leave it with no chance of getting back up. erik: that was just men of the one he -- one of the many quick takes you can find on the bloomberg. you can also find them on bloomberg.com. that will be all for bloomberg

best of this week. thanks for watching. i'm erik schatzker. this is bloomberg. ♪

carol: welcome to "bloomberg businessweek." i'm carol massar. taylor: i am taylor riggs. carol: bitcoin, we have talked a lot about it. there is a story about how to regulate it. taylor: facebook and the online scamming business. carol: why pay equality is still out of reach. taylor: all of that ahead on "bloomberg businessweek." ♪ carol: we're here with the editor-in-chief of "bloomberg businessweek" joe weber.