>> coming up, wrapping up record profits. a meeting to mar-a-lago is just one of the matters moving markets. >> there is a lot of frustration . president trump: it is a meeting that will not be fruitful. we are not going to go. >> he speaks exclusively about his nation's financial death to south africa becoming even

more effective than it has been. >> and paying close attention to conversation. >> it is not a solution. it is a problem. it is all straight ahead on ♪loomberg best" taylor: hello and welcome, i am taylor riggs. this is "bloomberg best." the most important business news from bloomberg television around the world. investors were eagerly anticipating a parade of earnings reports from banks this week starting monday with results from bank of america. manus: bank of america posted a record profit in the first

quarter carried the company reaping the benefits of a lower corporate tax rate, cost cuts and volatility. >> it wasn't a uniformly fantastic quarter, but there were a lot of positive highlights. net income up 30% to nearly $7 billion. revenue of 3.7% to about $23 billion. both those gains were larger than estimated. if you look at the trading

revenue it breaks down like this. revenue equities up 30%, but fixed-income revenue down 13%. it is important to talk about costs when we talk about bank of america because that is something that brian has been chipping away at it. first quarter expenses were 60% of revenue, that is the best ratio in more than five years time. it is partly to do with the process that moynahan has been going to over the past two years, trying to free bank of america from entanglements and cutting costs post financial crisis, some of them coming because of regulation. taylor: president trump plans to announce the nomination of richard clarida, pimco's global strategic advisor, as vice chairman of the federal reserve. the president is making some conventional choices when it comes to staffing the federal reserve. these are not political choices. >> no and michele bachmann, who is nominated to be a governor to fill the community bank her seat, also very conventional. it is unexpected from a guy who did nothing but rate crockery on the campaign trail and raise economic heck over trade and

things like that. you could not get a better resume for the fed then richard clarida has because he has worked in markets, academia, he's an economic researcher and is the perfect fit for the job, and he is also a pragmatist, not going to break any crockery. >> china's gdp grew 6.8%, the headline number of the first quarter. robust consumer spending helped buoy china's economic expansion. retail was up 10% and industrial production grew 6%. those are the headline numbers. what the world wants to know is 6.8% sustainable? that is the question. >> most analysts seem to think we will get a softening of the growth picture going forward for china because you have had this domestic demand being supportive of the picture here but there are a number of factors including restrictions that

continue on the property sector that could weigh on the growth outlook for china going forward as well as some of the priorities that have been a laid out in tackling debt, poverty, and pollution. a strong number for the first quarter, but potentially moderating as we go ahead to the end of the year. the target they have set is around 6.5%. >> goldman sachs out with first-quarter results, killing it on all kinds of estimates.

you had equity trading revenue up 38%, trading revenue all -- overall up 31%. >> he was a great quarter. if you look at this quarter relative to some of the big banks reported, the strong results are a function of the lower bar from last year. they started last year on a slower note, but you are also seeing that little volatility can go a long way. goldman has to do well when volatility picks up. you are seeing the results there and the good news for them is trading represents a bigger percentage of the overall mix. it is moving their needle more than it did for some big banks that have reported. manus bank -- manus: morgan

stanley posts a record quarter in the first quarter. ruled by a surprise jump in fixed-income and equity trading, capping a series of strong earnings from the bank. >> across the board in all the divisions, morgan stanley seemed to have really hit their marks, if not exceed them. they past $11 billion in revenue for the first time. that was a record. they exceeded expectations in fixed-income, they exceeded expectations in investment banking. in fact, they were the cream of the crop in investment banking, the best on wall street. they were up 7%. with m&a advisory, morgan stanley is leading the charge. >> president trump has confirmed cia director mike pompeo made a secret trip to north korea to meet kim jong-un. the two met to discuss a summit between the leaders. the focus would be on nuclear weapons. the president tweeted that denuclearization will be great for the world and for north korea. >> it is a huge surprise. this is the highest level talk between the u.s. and north korea in almost 20 years, since then secretary of state madeleine albright went to north korea at the end of the clinton administration. it is a real sign that this meeting is likely on. >> if i think that it is a meeting that is not going to be fruitful, we aren't going to go. if the meeting, when i am there, is not fruitful, i will respectfully leave the meeting. >> president trump says he and japanese prime minister shinzo abe will continue to work together on trade to reduce what he calls "imbalances." >> it does seem like the

japanese prime minister is really forced to respond from the defensive. he is facing mounting scandals at home, having to deal with a u.s. president who really wants to rectify the trade imbalance, which he and a lot of other very serious people don't think is an actual problem, and he is quite afraid of what trump might do with north korea and how that might jeopardize japanese security. >> apple and chipmakers sell after semiconductor issued growth forecast that -- handset boom is waning. sales will be a billion-dollar -- $1 billion less than analyst expectations. that led to a report that should mark phone shipments declined. a reminder that the best days maybe in the past. is this having such a big impact on apple shares? >> tsmc is a lot more than a contract manufacturer. they are really the leader in this new wave of technology, outsourcing chips. if you are a smart phone maker, it is likely the main component in your product was created at a tsmc factory. >> on course for its biggest day fall since 2014. the plunge in the stock really comes after the chipmaker yesterday forecast sales at about $1 billion less than the central was expecting here.

>> it points to the same thing. the smartphone market is at least slowing, if not peaked. i think the key right now is to await the next innovation, but also the new drivers of growth for chipmakers, which include artificial intelligence, internet of things, and automotive application. >> crude taking a leg lower after donald trump tweeted "looks like opec is at it again with record amounts of oil all over the place, including the fully loaded ships at sea." oil prices are artificially very high, no good and will not be accepted." ministers here are really scratching their heads. they don't understand how a deal they struck at the end of 2016, which has boosted global prices and helped the u.s. shale industry -- they don't understand how the president is now coming after them. >> i would like to stress the market is what sets the price based on fundamental factors like supply and demand and other

factors. >> price is not our objective. our objective remains restoring stability, restoring stability on a sustainable basis. in the interest of not only us as producers, but also consumers. >> fundamentally, despite the tweets, nothing has changed. it still looks like the trump administration is threatening to pull out of the iranian nuclear deal. if it does that, that has been sustaining oil prices and we might see a higher price. we have worries in libya, nigeria, venezuela. there is a lot that could go wrong with supply and the market is pricing an early expectation of that. a lot of the technical indicators point to a higher

price, not a lower one. taylor: still ahead, we review the week on "bloomberg best." we will revisit conversations of the world economy from the imf meeting in washington. alan greenspan also weighs in on the pros and cons of the gop tax overhaul. >> cannot cut benefits now. it is the third rail of american politics. taylor: up next, more of the week's top business headlines. a vote on brexit in the house of lords does not go theresa may's way. >> if i was theresa may and philip hammond, i would be saying game's over. taylor: this is bloomberg. ♪

♪ taylor: this is "bloomberg best." i'm taylor riggs. another week, another pointed exchange of trade measures between the world's two largest economies. the latest tit-for-tat began with u.s. sanctions aimed at a chinese tech company. >> chinese telecoms gear maker zte has been barred from the -- exporting sensitive technology from the u.s. after the commerce department alleged it made false statements to officials. our china correspondent is standing by in beijing, in front of the zte headquarters. tom, the details here. go -- here? tom: this isn't about one single corporate, this is about a broader effort by the administration it seems, in the u.s. to further restrict chinese

access to that crucial u.s. technology and innovation. this really goes to the heart of the concerns amongst chinese policymakers who are far less concerned about any tariffs on steel or aluminum and far more concerned about moves like this, restricting their companies from getting access to crucial technology. >> china removing a two decade old ownership restriction and will let companies like volkswagen and tesla own more than 50% of local ventures. on the other hand, they slapped a $179 tax on u.s. imports. it is a carrot and stick approach. >> china is dangling this large market, saying we can let

foreign companies rome more freely. -- roma more freely. -- roam more freely. on the other hand, they say if you come after us, we have to retaliate. china is saying we can do this on a whole range of other products and make it more painful for the u.s. there is no doubt they want to open up gradually. >> zte saying the u.s. ban to american technology will

severely jeopardize the company's future. -- considering using an emergency law to curb chinese investments insensitive tech. >> this is part of the president's move to try and push and punish china for what the administration views as abuse of intellectual property, u.s. intellectual property rights. the 19 77 law would essentially allow the president to have emergency powers given to declare a national emergency, which would allow him to seize assets and bar chinese firms from having transactions with the u.s. this is a plan they are looking at. sometimes these things get floated and are scaled back, but the treasury department is seriously considering the move. >> the pboc has sprung a surprise by cutting reserve ratios for most commercial and a foreign banks.

a 100 basis point cut is effective from the 25th of april and reduces the amount of cash the bank will need to hold reserves. does this suggest the concern over liquidity in the system is really behind this? >> the idea is that it will channel the liquidity to businesses and individuals, and what it is going to effectively replace is the bank's borrowing or use of the medium term lending facility fund. it is going to replace that, so it is a tweaking of the liquidity scenario. most economists don't expect a benchmark rate rise in 2018, but this move is certainly a question of liquidity but probably not a change of stance significantly from the pboc.

>> talk of potential sanctions on russia promoting a string of mixed messages from two top officials. on sunday, nikki haley saying sanctions for russia were on the way. >> secretary mnuchin will be announcing those monday if he hasn't already. >> but just days later, economic advisor saying nikki haley got ahead of the curve and that there would be confusion about that. within hours, nikki haley responding, i don't get confused. the trump administration telling russia it has no sanction plans for anytime soon. that is according to a russian official. >> i think the bottom line here is that there is a lot of frustration, quite frankly that has bubbled over in the last 24 hours between ambassador haley and president trump. there is frustration amongst some in the administration that the united kingdom has not followed suit with sanctions that are tough enough and that

any sanctions imposed by the u.s. benefit some other countries such as the u.k. the pound getting hit on the news you are also seeing a selloff in the gilt market as investors buy in. is the downturn in inflation sustainable or is this an idiosyncratic month? >> the big picture is inflation is coming down in the u.k. and that is as the effect of sterling appreciation feeds through and pass out of the inflation measure.

this month in particular, there is some idiosyncratic stuff happening. the weather has been dreadful in march and all of the shops are full of the wrong clothes. this has led to some discounting which otherwise wouldn't have happened. my guess is that you will see a bit of a rebound next month and you see that in the european data more broadly as well as the eurozone. >> the fiduciary rule was something wall street spent years trying to fend off. the obama administration went ahead with it and now trump appointees are looking to dial those regulations back. tell us what is going on. >> the sec is going to broker -- propose a new standard to target broker conflicts of interest, one of the most controversial things done at the end of the

obama administration. the sec will come up with a much lighter approach, there won't be the same requirements that brokers are legally required to put their interests first and that is a big win for the industry. >> u.k. prime minister theresa may's brexit vision suffered a blow yesterday when the house of lords voted against government plans to leave the eu customs union. >> contents, 348, not content to -- 225. the contents have it. >> it was staggering last night. if i was theresa may now and philip hammond, i would be saying games over, we've got to get a deal around the customs union. let's try working-class across

party. >> the government doesn't have to change its policy on the back of this, however, the scale of it shows the strength of feeling across the upper chamber and potentially reflects the makeup of the votes in the house of across the upper chamber and commons. that is where the big fight is going to come in the next few months when this bill, the eu withdrawal bill comes back to the commons. the people who want the closest relationship with europe are feeling more emboldened after this vote last night. >> what do you get when you mix harsh u.s. sanctions against --with speculation that more could be coming for other major mining companies? you get an explosion in industrial metals. is the rally we are seeing in aluminum and nickel sustainable? >> these are traded markets and fundamentally driven markets. it is hard to distill what is driven by russian sanctions or other things of that nature versus the fundamentals. ♪ this wi-fi is fast.

i know! i know! i know! i know! when did brian move back in? brian's back? he doesn't get my room. he's only going to be here for like a week. like a month, tops. oh boy. wi-fi fast enough for the whole family is simple, easy, awesome. in many cultures, young men would stay with their families until their 40's.

♪ taylor: you're watching "bloomberg best." i'm taylor riggs. the imf issued its latest world economic outlook this week. it expects global growth to continue for the next two years, but expressing mark pessimism and its -- expressing more pessimism in its predictions for 2020 and beyond. we got perspective on economic issues at the imf world bank spring meetings in washington, d.c. ♪ >> what everyone is saying this week, one way or another, is very simple. things are good, but they are getting risky. our message, of course, is in

that kind of setting, while things are still good, it is time to try to prolong this recovery in ways that will be sustainable, and prepare for those risks. try to lesson the risks and be in a better position to deal with them if they materialize. >> within your forecast in the blue book, your world economic outlook, over to the brown book, can you say that growth will be there for every unique story, including the united states? >> we would like to see people, countries, all of our member countries, try to take steps to improve growth in the medium-term, because this is a cycle, and you have to look over the crest of the hill and see what is going to come. we believe that potential growth will be somewhat slower this -- lower in the future than it has been in the past. there will have to be

affirmative steps through infrastructure and structural reform to improve the growth prospects. but, i would say that there are new wildcards on the horizon. >> give us an example. >> the three subjects, nontraditional subjects, that are on everyone's mind this week are the three t's, trade, technology, and trust. ♪ >> as far as trade is concerned, we are altogether. the commission is responsible for negotiating on trade. my colleague is in charge with that. i met steven mnuchin, i saw people in the white house, and i think we must get down on the

tone of that. trade war is not every war. it is bad, nobody wins, it is lose-lose. we need to fight protectionism here. we will be in the g20 meeting, and there, we must say protectionism is not a solution, it is a problem. we must do that altogether. but that is not enough for europe. for europe, we need to integrate more where it is necessary. not everywhere. i'm not asking for a federal europe, but i am saying there are items such as migration, trade, monetary union, on which we must make decided progress in order to have more investment, better and stronger growth for the future. >> secretary mnuchin also give you the gift of a trillion dollar deficit, it feels like chronic trillion dollar american deficits. how does that affect europe? >> they are positive since the american growth is picking up,

and with a booming american economy, it is good for the rest of the world, because we are partners. we exchange together. there's no trade war for the time being. for the medium-term, as always, when you have high debt, you -- and a high deficit, you need to watch that carefully to avoid in balances, and this is not only for europe, it is worldwide. our situation is not the same. we have a high debt, we don't have the privilege of having the world currency, which is the dollar, so we must still be careful about our public and private debt. debt is still a problem for the future. ♪ >> do you worry that a

u.s.-china spat that turns ugly will hurt the americas." -- america's? >> it well, there's no doubt about that. there was a summit a week ago, the presidents from the region talked about this. this is a main concern for many reasons. one, the u.s. market. the u.s. market is very important for many of our economies, including colombia. any increase in terrorist in the -- terrorists -- tariffs in the u.s. will be costly. also, the fact that there will be a trade war response from other countries might also mean protectionism in other parts of the world. and where is all this going to end? there will be more products coming into our markets that have lower prices. >> do you think this will be a trade war? or is this just the president that once a deal? this is just a president trying to rattle the cage? >> we don't know where it is going to end. we don't know what the ramifications of this could be. it could begin between the u.s. and china, but others might come in. and of the world economy is going to be affected because there will be more products that cannot enter the u.s. or chinese market if there's protectionism in china that will end

elsewhere. our producers are concerned. ♪ >> you are so heavily dependent on china being your biggest export country, and you are very dependent on the u.s. >> indeed. from our point of view, we are very keen to ensure that there's no such thing as a trade war, we don't believe there will be a trade war. we believe that some issues have been put on the table, and issues will be withdrawn. i'm very confident that things will work themselves out. >> the u.s. is in, the u.s. is out. what will happen? >> well, australia -- we have pursued a very ambitious free trade agenda. we are very committed to policy supporting open market and free trade when the united states decided not to pursue the transpacific partnership any further, we provided leadership that suggested to the other countries that it was a good

idea for us to keep going, and indeed, the transpacific partnership has been finalized and has been signed on by the 11 remaining countries. it is good for us, if the united states decided to join, we would work with that. >> do you think they will rejoin? >> well, it's entirely up to the united states. we would welcome if they decided to rejoin. ♪ taylor: rising to the presidency of south africa, bringing hope of reform and greater stability in africa's third-largest economy. he spoke exclusively with guy johnson this week about how he is marketing his nation to investors. ♪ >> the pitch is going to be, we are open for business. we are backing reforms that will lead to south africa becoming even more attractive than it has been. we will have incentives for

various sectors of the economy, depending on which sector one wants to invest in, we will have well-crafted incentives that will attract people. some of them will be a tax incentives, some of them will be general industrial incentives that are given by particular sectors. that pitch will be we are serious, we are creating a good climate for investments to come into our country, we will give you good incentives, good security, and we will make sure that the concerns you have will also be addressed. we'll ensure the infrastructure stays in place, we will remain a well-infrastructured country. we have got a very good regulatory framework and a legal framework. all those things, a combination of all of them, will give people a really good package and offering for them to come in and invest in south africa. >> one of the factors as the level of the rent. let's talk a little bit about

whether you are comfortable with where it is now. is it a reflection of international sentiment toward south africa being more positive, or would you be more comfortable with the cheaper rand that could make the investments you are talking about easier to make? >> well, it's a double-edged sword. it's a double-edged sword in that the rand where it is now reflects a level of confidence that the world has in south africa, because they can see that south africa is going somewhere. but for exporters from our own country, the stronger rand is not so positive for them, because they are bringing fewer. so we need to find a balance. >> is it balanced now? >> it is near the balance.

it's near the balance. it's not yet quite there, but it is near the balance. but it's a double-edged sword. ♪

♪ taylor: you are watching "bloomberg best." i'm taylor riggs. let's resume our global tour of the top business stories, first by digging into more earnings reports, beginning with a solid b from netflix. ♪ >> shares of netflix are surging in after better-than-expected subscriber growth. as you look through the release, what else have you picked up that you think is worthy of mention? >> one of the things is the pricing power that netflix now has. seven years ago, netflix got in a lot of trouble when it split its dvd business and streaming

business, which amounted to a price increase for customers. this is the last time they faced real problems, the stock price plummeted. some subscribers cancel their subscriptions. -- canceled their subscriptions. it has been all growth since then. there were concerns about a price increase, it affected their growth a little bit, but not a tremendous amount. then, they rolled out price increases all over the world, and not only has it not slowed their growth, but they placed

the biggest fourth-quarter ever. ♪ >> ibm shares tumbling in after-hours trading, the company's first-quarter gross margins missing analyst estimates. this coming despite ibm notching another win in its campaign to reverse years of revenue declines as it reported its second straight period a failed growth. walk us through the main weaknesses here. >> the biggest issue is gross margins. this has been an issue for some time. we have written about it, that even this year we should see a slight decline in growth margins, although the pace of decline will not be as bad as last year. that remains the number one concern at this point, which we believe is driving down the stock. ♪ >> general electric releasing quarterly earnings, maintaining its 2018 profit forecast, defying wall street expectations of a cut. the stock is up by 6%, but down more than 20% this year, the worst performer in the dow.

part of what was so helpful for ge was that they reaffirmed their forecast. at some point, you may have to cut it? >> it will be interesting. these results were much better than expected. particularly in aviation and health care. >> we have expected this to be coming. there was a lot of talk in washington over the last week. >> what you have seen in the consent orders is a recognition that they want to put this issue behind them. much if not all of this activity took place under previous management. they have agreed to dramatically increase their compliance and oversight capabilities. we will continue to watch them, as all the regulators will, to make sure they continue to they have agreed to dramatically increase their compliance and follow the law. ♪ >> it's a milestone for larry

fink, the ceo of the world's largest money manager is now a billionaire. more than half his fortune as an -- is in blackrock shares, which have soared more than 3600% since the company was listed in 1999. on the one hand, you want to say, wow, what a milestone. on the other hand, what took him so long? >> you could, but that has to do a lot with the way he built the business. first of all, i think i can relatively confidently say, he wasn't in it for the money. of course, he was in it for some money. he's a wall street guy, he came out of credit suisse back in the

day. but what i mean by that is that he hasn't been as much in pursuit of dollars as some of his compatriots. blackrock is a growth machine. if you look at its stock performance since it was public in 1999, it is up 3800%. amazon over the same period of time is up 1900%. ♪ >> the hunt is on for a successor at wpp. the chief executive and founder has left the group. he transformed it from a wider -- wire shop manufacturer to the world's biggest advertising company. his exit comes amid allegations of personal misconduct, claims that he has denied. wpp's board and its investigation, saying the accounts were not material. whoever takes up the reins has a -- has very big shoes to fill. what kind of person and what is there priority? -- there priority -- their priority? >> there is talk and evidence of pressure from the consultants the way advertisers are buying, so this has to be somebody that still has the creativity angle, much stronger data and technology focus to reshape the business. ♪ >> let's turn to the story of a startup that is scaling up. the boston-based retailer specializing in green, non-toxic beauty products. the company has spent the last three years strengthening its digital platform while it moves forward with plans to expand its brick-and-mortar footprint. the founder and ceo explains how they are going from small to big. ♪

>> the idea came about in 2009, when i was making a personal shift to a healthier lifestyle generally. i realized when i was looking into nutrition and fitness, that all of these beauty products contained a lot of problems. i realized there was a real opportunity for clean beauty retail stores. our entire goal is to shift in -- the mindset around the products you buy for your skin. i needed to learn a lot about business and about the beauty industry. i worked on a lavender farm, i was a skincare developer, i got an mba where i focus on the business planning the entire time areas -- time. in 2013, we opened the doors for our first store. i was in there every day talking to customers, figuring out what it needed to be. i raised a few hundred thousand

dollars that lasted almost three years, all the way through 2016. i was really focused on building a brick-and-mortar business. but at the same time, there was so much more going online. content had become so critical. we decided to make a huge shift in 2016 and change to additional -- a digital first business. we decided a digital first was going to be the only way we could get the content out there and share our unique level of expertise. we raised around $3 million to do that. we needed to build a digital first team, we needed to build a new flexible tech staff. we were very lucky to be in boston, surrounded by engineers, and they are super passionate about this business. we spent a year and a half building it out, figuring out how it should exist online. it will be between 70% to 80%

online by the end of this year. despite building a digital first business, you can never truly replicate our in-store experience online. we have two brick-and-mortar stores, both in boston. we will be opening for this year -- four this year. if everything goes well we will open an additional 10 in 2019. we are growing online in a huge way. the real secret to follain is we are a highly curated portfolio. we have tested between 800 to 900 brands. we are becoming now to known as the place to start your clean beauty journey. ♪

♪ manus: we are in this start of

earnings season, if you go back to the argument i made earlier, this is the function on the bloomberg terminal that every bloomberg user can use. taylor: there are about 30,000 functions on the bloomberg, and we always enjoy showing you are favorites on bloomberg television. maybe they will become your favorites, too. here is another function you will find useful, to you i see go. it will take it to quick takes, where you can get important context and fast insights into timely topics. here's one from this week. ♪ >> these are the five most valuable companies in america. notice anything? they are all tech companies, and their dominance is attracting attention from watchdog groups, that say their market power is harming competition in the economy. is it time to break a big tech? -- break up the tech? -- break up big tech? you have to understand how tech has exploded. for our purposes, let's imagining them as pac-man companies, except in this game, there are no ghosts to avoid. those ghosts are u.s.

regulators. for the past decade, the u.s. has been mostly hands-off with big tech companies, letting them become even bigger. bloomberg data shows that in the last 10 years, they have made close to 500 acquisitions worth about $140 billion. because consumers like the company's product, amazon, apple, facebook, and google have developed huge market shares. for example, amazon receives about 93% of all e-book sales. google pulls in about 78% of internet search ad spending. similarly, apple is dominant in high-end smartphones, and facebook in the social media traffic. but being a monopoly isn't illegal. regulators stopped equating big with bad long time ago. monopoly cases brought by the u.s. of also dwindled.

in fact, the last high-profile case was filed in 1998, when the justice department successfully challenged microsoft dominance of computers operating system. -- systems. that 20 year dry spell in monopoly cases has led some watchdogs to say that enforcement has become too timid. they say big tech is hurting innovation, and some even believe them for a decline in successful startups. in europe, america's big companies are being aggressively pursued. the eu has find google -- fined google for abusing market dominance, and germany is investigating facebook for privacy practices. but the big tech players don't think they need to broken. they argue their dominance isn't guaranteed because new competitors can easily jump in. as google likes to point out, competition is just one click away. ♪ taylor: that was just one of the many quick takes you can find on the bloomberg. you can also find them at bloomberg.com, along with all the latest business news and analysis 24 hours a day. that will be all for "bloomberg best" this week. thanks for watching. i'm taylor riggs. this is bloomberg. ♪

competition is just one click away.

carol: welcome to "bloomberg businessweek." i'm carol massar. taylor: and i'm taylor riggs. we are here inside the magazine's headquarters in new york. carol: coming up in this week's issue, the french president, what he has been up to, and his influence on president trump. taylor: and a tech firm that may be knows too much about who you are. carol: also, colors are taken for granted, but there is so much science and chance behind them. taylor: all of this ahead on "bloomberg businessweek." ♪ carol: we are here with the editor-in-chief of "