tv Bloomberg Best Bloomberg May 4, 2018 10:00pm-11:00pm EDT
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♪ ramy: coming up on "bloomberg best," the stories that shaped the week in business around the world. the fed holds rates that as inflation creeps toward its target. >> i think the statement is loud and clear. mission accomplished. the big mystery out there is what is going on with wages. hurdles still remain. >> is not a takeover. it is a merger. nejra: apple's results stand up in a crowded earnings report. much removing -- much maneuvering. not a good situation.
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the prime minister has got to get a solution to the guests. >> their dividing and congress when they need to work with the european union against china. nejra: plus a who's who of financial leaders discuss at the milton conference in beverly hills. >> interest rate increases this year could the one increase more than what the markets expect. >> part of why we see interest rates going up is because it creates economic growth. that is a good thing. >> i'm confident that the next direction is not imminent. nejra: call straight ahead on bloomberg best. ♪ nejra: hello and welcome i'm nejra cehic. this is bloomberg best. your weekly review of interviews
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from the bertelli mission from around the world. the week began with a flurry of mergers including a third try at a tie up between a pair of big telecom knees. -- a telecom companies. >> a big weekend for mergers. logos.se giant pro t-mobile agreeing to buy sprint. you keep saying it is $26.5 billion. there is debt they are taking on. it's a lot more than $26.5 billion. >> it is substantially more. prices today is not what the prices tomorrow. it will move around. there is a lot of risk on this eel. you will see that play out in any spread you will look at. people will say the antitrust risk is huge. the government already said they don't like this deal. >> there's a high chance that doesn't get done. >> what is different now is five g. this is imperative.
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behind it ton china. t-mobile and sprint together is the only company that can change that. will supercharge the on carrier current customers can look forward to a broader range of service, more rural come petition, or broadband condition, lower prices, and last, jobs will go up. ♪ >> the president delaying tariffs on u.s. allies until june 1. that's as trade talks ramp-up. >> joining secretary mnuchin in china this week will be commerce secretary over ross. trade ambassador, bob lighthizer, and the presidents chief economist larry kudlow. peter navarro and the ambassador china, so it is an ideologically diverse group heading over there. while this is brewing with china, the fallout coming from the eu running out a statement
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saying they feel they should be eminently exempted. saint we will not negotiate under threat, meanwhile the united kingdom saying they will be working with the eu on this saying they remain concerned. all of this comes while here in washington, republicans urging the president to reconsider. >> the u.s. has a strange strategy. it could get the eu to help them with china. is just asn union worried as the united states are about china and have a deal that with intellectual property. thenow they are alienated european union with these metal tariffs. their dividing and congress when they need to work with the european union against china. ♪ apple reporting its fiscal second-quarter numbers. the beat on the revenues and a beat on the earnings.
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estimate therehe 52.3 million. a touch over. technology anchor emily chang has just broken to apple ceo tim cook. what's questions about the future of the iphone x. somethat there has been weakness going into this quarter. when i asked him about the iphone x, he said it was the most popular iphone every week in the quarter. it's the first time since the six and six plus that new iphone has been the best-selling. that is an incredible result if you think about it here it there are a lot of questions but the price. when they come up with new funds in september as we expect them to, will they stick to that $999 price that is pushing $1000, you have concerns about the price. concerns don't have about the price. i think it is priced for the value that it is.
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it sets us up for the next decade. tim cook: what we can see from the results is that the company is able to drive growth in several areas. the iphone execution in that business was solid. the growth in services shows that apple has built out a differentiated ecosystem that customers value. lastly, i would point out the we thought the big increase to the stock buyback and dividends. this is a company that a shareholder friendly and focus on the long-term. >> where just moments away from the federal reserve interest position. what they expect interest rates to be unchanged, they will be closely watching the commentary. the fed,cision from unchanged. only a minor tweak to the language on inflation. although it could be an important one. with the pce price in crack --
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pce price index, both in place in and inflation have moved close to 2%. they dropped their pledge to monitor closely and say inflation on a 12 month asus is expected to run near the committee's symmetric 2% objective of the median term. the fed is telling you that this inflation is no longer a concern and a symmetric target means you can expect inflation to run above 2% at least for a little bit. >> i think the statement is loud and clear. mission accomplished. rather than say we got here, we did it, we set we are almost here. so they didn't pop the champagne cork and say we are really here. they're expressing some doubts. >> it gets back to the idea they are willing to overshoot even as they are raising rates and allowing unemployment to continue to fall.
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i think we will get to four rate hikes this year. >> the economy seems to be on the tracks that it would be on here it is very tight labor market. pretty good growth. and inflation coming up a little bit. and they willh it keep on the schedule of raising unless something terrible happens. tesla beat first-quarter results. shares went into reverse in late trade after a testy conference call with analysts. >> were going to go to you too. sorry. these questions are so dry your there killing me. >> he was clearly more interested in talking about the product roadmap and the model wide. that is what he likes to talk about. he was dismissive of concerns about the balance sheet.
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you are seeing the shares decline because of that. >> shares of tesla fell as much as 8% as investors trying to make sense of his reaction. >> the contentiousness was all one-sided. it was a situation where it will be a situation where this is a company that likely is going to need to raise cash whether musk says he wants to or not. he does have the ability clearly to get the money from his customers and he still has a significant amount of deposits on his balance sheet but certainly, the expectation is you will have to sell some stock or debt again. ♪ china united states and fought to withdraw in the first round of their trade talk over beijing with no progress reported. give us a sense of what the u.s. was after in these negotiations? >> they presented a lengthy list of demands from their chinese counterparts. one of them was described as impossible to agree with. take away was to narrow the
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trade deficit by 200 billion by 2020. there was a series of demands link to opening up market access for u.s. companies, protection around ip, reduction of tariffs and most interestingly, throughout the document there is a demand on china that they do not retaliate to u.s. actions. a lot of people point to those clauses in particular is being especially a fundamental hurdle for china to agree to. eight the list of demands from the u.s.. china also made similar demands on its side. ♪ >> the economy adding 164,000 jobs in april, just falling short of estimates. the unemployment rate falling to a stunning 3.9% apple earnings coming at 2.6%. >> this looks like a full employment jobs report for the fed. sincet the lowest level
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2000. if you look at people flowing into jobs out of the later -- the labor force, those are pretty far down. at the same time, the big mystery out there is what is going on with wages. that opens up a big question for the feds. you have full employment and all of the signs of the labor market is moderating, but you are not seeing the wage growth you would expect. ♪ >> nejra: still ahead, as we were few the week on bloomberg west, highlights from a slew of earnings reports. plus conversations with steven mnuchin on treasury bonds. we will hear exclusively from the traitor whose bets were more to life in the big short. what troubles will he see on the horizon? >> you will see more trouble in the corporate market and the equity market and structured products market. nejra: up next, more of the top business headlines. mark zuckerberg has been on the defensive, but he is not backing down on product innovation.
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in retail. this was seen as a consolidation driver. but i think investors are thinking that this deal will go off well. the big question is what does the regulators say? ♪ >> a titanic merger in the u.s. oil industry. buy aon has agreed to refiner for $23.3 billion. the combined company will be the largest fuel maker in the u.s. what does it mean for the industry in? general? >> europe to companies in different parts of the country and now the biggest refiner in the country is -- they have 15% of fuel making ability in the country. not only that, they both have large pipeline assets. they are a giant presents now. >> combining these two assets we believe we can lower our costs inthe billion dollars synergy. when you take $1 billion out of
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two companies, it is good for the shareholders and good for the consumer. ♪ >> the u.k. prime minister named hery has secretary. misled backs exit. >> she has the cabinet and then a sort of inner cabinet. so far the balance on the cabinet has been evenly split tweet levers and remainders. with this appointment, the balance has shifted. in the inner cabinet. >> meeting of theresa may ending in a crisis with the majority -- suffereddefeated
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another defeat in the house of lords. this is not a good situation. the prime minister has got to get her solution to this. >> the real negotiation, the higher stakes talks are here among the british officials and policymakers. until that is sort it, the eu can just to sit on their hands. ♪ >> is really -- is really prime minister benjamin netanyahu has documents saying iran has the capability to build nuclear bombs. what was his audience? >> he had an audience of one. it was donald trump. to some people it will resonate, but as people follow this closely to the european capital, the sources have told us this doesn't really move the needle. i think he was aiming at trying to convince trump to get out of
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the nuclear deal in the coming days. ♪ >> facebook developers conference is underway in san jose, california. following became rich analytical scandal, mark zuckerberg addressed those concerns. users now have the option to delete data. >> zuckerberg has said it is one of many in figure due to try to regain trust of their users. beyond that, this is a conference for developers. he wanted to make the point first and foremost that they should keep building with facebook. is announcing about of things we thought they would always do but never have done. uploading and downloading for comments for example they did. dating will be a big importing move because of the weight it works on facebook is leveraging interest inl
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attending events to match them up. it is something that is already integrated into the platform. ♪ , because he is resigning brings an end to a proxy fight with activist investors. they had sued to block the opening plan to sell to fujifilm. why did investors object to the fujifilm you'll in particular? >> he objected to it couple plays because of the ceos to make the deal in the first place. there is an allegation out there that he did so to save his own job and that he engineered this in a way that bypassed carl icahn's interest. the main point is the money. carl icahn did not see the value in this transaction. that is because it is a complicated share swap transaction with no cash in the deal. if you are carl icahn, you didn't become a alien or by doing share swaps. there would be a lot of debt left.
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he did not like that idea. notice important and heading in his favor. ♪ >> when congress was debating tax reform last fall, we heard warnings of the effect on high tax states like new york. now, we hear that alliance bernstein holding will move from wall street to nashville in part because of the tax differential. >> you wonder if you are in and around wall street us is a bit of a southern canary in a coal mine. taxes are definitely a part of it. a lot of southern states, including tennessee and nashville in this case are taking advantage of these high tax jurisdictions and during people down. they were told, set out on an amazonian surge for a new headquarters. they looked at 30 cities in the main thing it were looking for was lower cost of having an education and quality of life. cost has become a real factor on all street. ♪ it may not be as
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well-known as paypal, but if amazon has its way it will be. the online retail giant is offering discounts to retailers to expand its payment system. >> amazon's payment service has been a challenge for them. it is similar to paypal. you're on a website, you can rather than enter your data and deliver address, you can login with your amazon service. the wariness has always been, do i want to share this info with amazon's it might be competing with the as a retailer. they're trying to offer a discount hoping that once they take the leap of faith will see positive results. ♪ filing for the world's largest ipo. is alibaba back in 2014? >> using hong kong's new rules for going public here it two days after the rules can into effect, your initial take away?
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it's not exactly the company at its peak. >> actually, they have had a good year the last eight once. they have tended perfectly. what they've done in the last 18 months to ramp up the numbers. story. turnaround the bankers have got a great story to tell investors as we go into these ipo process. we've seen the smartphone business do very well and they are spending a lot of time talking about their shipments have done very well. they have got that momentum. >> what is interesting with them if they say they're going to curtail their hardware profits and the gross margin will be restrictive to 5% but that implies that building their story base that allows them to push more services and those businesses are at a 40% to 60% growth margin. that obviously gives them better prospects and takes them more toward the 18% or 90% that samsung is able to do. ♪
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♪ bloomberg best. this week the u.s. treasury announced that net darling reached record levels in the first quarter of 2018. 10 year bond yields have been hovering near for your highs. steven mnuchin stopped off at the institute mobile conference on his way to china for trade meetings, bloomberg asked him if he is concerned about the state of the bond market. ♪ >> i think the good news is the u.s. treasury market is the most liquid and robust market in the world. while i won't comment on interest rates because i respect the independence of the fed, what i will say is the market, the forward curve expects interest rates to show up. -- to go up. how much and how fast, we will
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see if it is more or less than the market predicts. part of the reason we see interest rates going up is because we have created economic growth. that is a good inc.. we have been focused on targeting 3% in gdp. part of the reason why they have backed up as because of that economic run. >> you said on bloomberg this morning, he had never seen as bat the market conditions as it treasury market so much supply coming in. the central bank and federal reserve and others running down their balance. summoning coming together. let's say again, it is a large robust market. it is the most liquid target in the world. there's a lot of supply, but the market can handle it. >> way salt markets responding to that. is there a danger level that you think it's not three, but is it for? what would worry you? >> but me just say.
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i have tremendous confidence in chairman powell and his leadership at the fed. lots of these issues are interrelated. it depends when growth is and unemployment and there are lots of issues that are all interrelated. i'm sure as they look at monetary policy. >> but coming into it, europe may be reduced demand and a big increase in supply? and that is independent of the fed policy. were also talking about the amount of supply that will be -- >> by definition supply and demand will equate. >> it could be a very high rate. >> i'm not concerned about that. there are is ill a lot of buyers of u.s. treasuries. ♪ nejra: there's still plenty left to cover on bloomberg best including earnings reports of bp and australia's largest x. coming up, more conversations from the milk and global conference. righte talking to ceos
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♪ this is "bloomberg best." leaders in business, finance, and politics gathered this week at the annual milken global conference in beverly hills, california. in bloomberg was there to discuss the most pressing issues in the market are the most influential people in the world. let's begin with erik schatzker's conversation with david solomon on the topic of volatility. ♪ think i can explain the difference between good volatility and bad volatility, but when i went say is that the environmentr was an where our clients were more active in shifting around
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portfolios in changing some of the assets they were holding or the positions they had. in that kind of environment, given the strength of the franchise, you start to form well. you look at our returns of the first quarter, clients are more active, and we will benefit. >> does that require more conviction on the client's part? you spent a lot of time traveling, meeting clients. what are they telling you in terms of their convictions? s different clients who get different convictions about different things. it could be conviction but it also could be landscape. there's no question that the first quarter had more of a sentiment that rates were moving, we were heading toward an environment where rates are moving, and that was getting people focused on shifting. in terms of getting around and talking to people, generally speaking, people are relatively -- they are talking to ceos right now, confidence is high,
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but people are cautious. this growth cycle could run for a while, but people are conscious of the fact that asset prices have been going up, there's a shift in monetary policy, and that could lead to changes in shifts. >> we think there's an opportunity for banks. have to clean up their balance sheet, so assets that they couldn't own anymore, it has given opportunity in nonperforming loans, sometimes for consumer credits, to buy big portfolio at attractive prices. private,ut them into fixed income structures in a way that you can realize the cash flow. >> there's an opportunity all the way across europe? >> get has been italy and spain.
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some in the u.k. some in ireland,. nks are doing fine. there isn't much in germany, some in eastern europe. something,ds to do and then it happens. in the u.k., there have been things happening since the financial crisis. >> what do you see at the end of all this? do you think the eurozone will work better? do you see someone who can change france? two presidents who probably didn't get such good scores, so i think he's a breath of fresh air, trying to do the right thing, which is not easy. hopefully he will go through the and will get friends in labor market which function.
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what other thing which is positive for europe is that banks are now i very good shapen. >> i think the inflation numbers are not completely showing the real inflation in the market. i think that is one of the problems. the way they are measured, is measured in historical ways, not really reflecting the market today. that is why my thinking that interest rate increases this year could be one more than what the market expects, and also not impossible to have 50 basis points. >> instead of 25, 50? >> maybe toward the end of the year. >> what would prompt that? what would be the catalyst? >> i think it is exactly what we are talking. it's unemployment. if unemployment goes down even more, employment pressures increase, and it goes up faster than what the market is expecting. ironic that the
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u.s. administration is putting on a trade war right now, because there are a lot of consumers in china, 300 million. president xi jingping last year at davos said over the next five years, china will import $8 trillion worth of goods. if you put the gates down because of retaliation, this is going to hurt everybody. it's going to close off a lot of opportunities for producers. >> alibaba's jack ma says they want to create one million jobs in the united states, but jack warren says that may not happen with the trade war moving ahead. are you pulling back? will the jobs not be created if the president's starts the war? >> jack says we will not create a million jobs, we could possibly create 10 million if the trade flows are open. let us there are trade wars, if there are opportunities for
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small businesses that are being shut off because there's a trade war, then the consequences could be quite severe. >> the president decide to delay by one month the implementation of steel tariffs. why weren't you able to reach a deal with the europeans? the reason is we are having a very productive we are hopefuld that we can come to an agreeable resolution that will protect the national interest, national security. >> it sounds like you are closer than farther away. what will you be doing over the next month to reach an agreement? >> i have been having dayussions, almost every since we first came up with it. >> earlier today, you said the
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u.s. trade deficit with china was due to partly what you call -- can you explain what you mean by that? >> sure. technology transfers, forced joint venture agreements, theft of intellectual property, artificial barriers to trade in the form of standards, regulatory approval, high tariff barriers. know, as you probably talks a lot about free trade, but in fact their behavior is much more protectionist. >> do you use that characterization before you meet with your counterparts? >> those are facts. >> have they responded? ♪ >> now for another bloomberg exclusive from the milken conference.
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became famous as one of the traders pretrade in the movie "the big short," but he never sat down for a television interview until this week, when he told erik schatzker what he thinks may trigger the next market correction. ♪ >> if the first quarter of volatility is a harbinger of something bigger, you will see a lot more trouble in the corporate markets and the equity markets and structural volatiles. consumers are in much better shape than corporate's, consumers are less levered. products --ctured people always fight the last war. that's not going to be what happens this time. i feel strongly that in an adverse environment, structured products will outperform, much as they did, if you remembered act in 2000, there weren't a lot of structured hedge funds.
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structured products were generally up modestly in each of the 2001, even when equities are down. >> where are finding the best opportunities right now? >> our portfolio is more diversified than it was before. level, -- from a high what i'm trying to do is construct a portfolio that generates enough returns. but it is also constructive that we survive the next correction. what's not clear is when the next -- >> what does it feel like to you? does it feel like we are getting close? >> we are certainly closer, every day we are closer, by definition. a lot depends on what happens with interest rates, what happens with wages and cost pressures, what happens with trade. very early, as things with china
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♪ >> this is "bloomberg best." earnings reports were front and center in this week's business news. let's resume around up with results from bp. ♪ >> bp has reported numbers this morning, adjusted net for the first quarter beat the highest analyst estimates. but cash flows came in less than analysts expected. it went up a little bit. too many bucks per barrel. it's exactly the plan we laid
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out this year. it was the $1.6 billion in condo payments, $1.2 billion related to a settlement back in october, 2012. the bullet payment went out in the first quarter. ofhave reached a peak now quarterly payments, and that is why net debt rose. we will now start to see that come down as the year progresses quarter on quarter. ♪ china's largest online retailer posted better-than-expected quarterly revenue and profits. alibaba got more money from businesses and better targeted online ads. sales at the macau unit doubled. alibaba forecasts ti will grow more than 60% last year. >> it has been a real blowout quarter. revenue grew 61%. this is the eighth straight
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quarter of a have posted revenue growth of more than 50%. that,hings that went into they sold $750 billion worth of merchandise this year, $105 for every person on the planet, 600 million active monthly users, they see revenue growth of 11% through 2019. a big part of that is in the ichud computing business, wh was up 103% this quarter. ♪ >> i want to turn to another tech company, can't forget snap. they reported their results as well, wow. are you surprised at how badly users took to the redesign? >> well, in some ways, yes. in some ways, no. social media is almost like fashion companies. all the celebrity endorsements and discussions, and that influences the social media platforms much more than it does other technology type products.
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history of's a social media platforms that were around and then gone, not to say that snap will be gone, but these things do change much more frequently. appleu were talking about being primarily a hardware company with services, snap calls themselves a camera company, and of course clearly the spectacle things has not been doing well. ♪ >> big pharma companies pfizer and merck reported their earnings, they both be on earnings-per-share, although pfizer is down somewhat. what happened with merck and pfizer? >> merck's results were as expected, a strong result from their cancer franchise, an oncology drug that's first in class now, emerging as the leader. pfizer is a little different. their revenue wasn't quite what analysts had been expecting, and i think what investors are
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looking for now is obviously -- they are making big moves, they have shown willingness to do big deals, and people have been looking at them to say, tax reform is done, a lot of money is coming in, what are you doing next? ♪ >> hsbc is returning money to shareholders in a $2 billion buyback, but it wasn't enough to please investors. the stock is down after europe's biggest bank reported costs that rose at a faster pace in revenue in first quarter and suggested it would reinvest capital generated in the future. >> i think the buyback we are mentioning this morning is, probably speaking, in line with the pattern of what we have done the last couple years. from our capital management perspective, i think what the numbers for the first quarter bears out is the growth environment we are seeing across the home and network market. we could do revenue progression, wealth management,, commercial isking, and are focused
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putting the capital to work in supporting the organic growth of the firm. ♪ >> societe generale messed analyst estimates as trading revenue at france's second-largest bank fell 13.4%. overnight, the company announced a reshuffle of top executives, naming four deputy ceo's. >> this is quite specific. the biggest rival has the equity market in the u.s., and oru exposure to the equity market in the u.s. is smaller t han u.s. competitors. the evolution of revenue and is the direct result of our business and our geography. we're not geared on europe and in asia. ♪ >> we will be watching amz, the bank missing expectations in the
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first half, and forecasting difficult trading conditions ahead. >> the housing market is slowing down, for good reason, and that puts a little bit of pressure on the market to make it more competitive. >> the ceo was quite clear in the results that the golden era, if you like, for australian banking is over. a combination of things. obviously, we have talked many times about more regulation coming through to the sector, we are seeing slow wage growth, banks don't have quite as much money as they did, and there is increased competition, starting to try to hive off the more attractive parts of the banks business. the result is not bad. it's a bit messy. some businesses are oversold, which makes them difficult to reconcile. it's not about result. ♪ australia bank reported cash profit and plans
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to spin off its asset management business. >> we have a wonderful business in private bank, and we see great opportunities in infrastructure and renewables, and whilst we think wealth they sayare important, this business will probably be doing better under its own initiative than in the bank. ♪ closingard chartered is after three years been struggling to transform the emerging-market lender. >> we saw the highest quarterly revenue under bill winters, the former boss of jpmorgan investment bank. he has been in charge since june, 2015. initially the chair jim -- the share jumped up on optimism, but as the day came on and the ceo spoke more, they revealed the
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costs may rise, which has been a inennial issue for them terms of implementing compliances. seeing them hits what they need to. ♪ >> bayer cut its forecast for the year, citing currency effects, as the german company push us to close it $66 billion purchase of monsanto. the strength of the euro in the first quarter, what does that mean? >> the performing of most european companies that have strong export businesses are very much met by foreign exchange, and it's important to focus on the underlying performance. we're pleased to report a sales increase of about 2% against a very strong prior-year quarter, and with it in terms of earnings, if you exclude currency, we matched earnings of
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last year, which was the strongest quarter of the year. let's wait and see where currencies move. i remember last year, when people were talking about parity of the euro-dollar toward the end of the year. i think the rest is history. ♪ adidas reporting in increased sales rate. the german sporting-goods maker has reiterated its goal to grow revenues by 10% this year. the currency story here is amazing, and the sales growth i'm sure will be impressive for investors, of the conversation is all about kanye west, after his slavery comments. how do you interpret what he said? >> we neither, nor speculate on every single comment are external creators are making. kanye has been a very important part of our strategy and the fantastic creator. he's an important part of our brand from a revenue standpoint,
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it's an important part of how we promote our products in the u.s. and other parts of the world. at the same time, our brand grew an23%, so while kanye's important part of the brand, we are a large, global company with a strong presence around the world, and we will continue to perform well. >> have you had any conversation within the business about dropping kanye? >> no. ♪
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favorites on bloomberg television. maybe they will become your favorite. here's another function you'll find user, -- useful. our quick takes will give you important context and fast insight into timely topics. there's one from this week. ♪ acquisition of whole foods highlights the explosive growth in organic food sales. you must of raven of agriculture says that foods labeled organic must be grown without synthetic fertilizers and be free from genetically modified organisms. meats from different animals raised without antibiotics or growth hormones, and with access to the outdoors. it's fair to say that organic food has greater nutritional benefits, and can even help fight cancer. spends why they sometimes twice as much for an organic product compared to the nonorganic one. but are organics really healthier?
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are they really worth the money ? years of the situation.concerns of -- here's the situation. concerns about antibiotics prompted some consumers to look for so-called organic food. in 1990, congress task the organic food production act to develop national standards and organic products became more common. mainstream grocery chains started their own lines of organic food, and larger food companies begin acquiring smaller health food companies to getting on the action. now from the big boxes to the small specialty stores, three quarters of u.s. grocers sell organic food. here's the argument. opponents say organic produce has more nutrients, including antioxidant environments, than conventionally grown fruits and vegetables. they also suggest eating organic limits exposure to toxic chemicals that may lead to certain cancers.
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but while eating organic does reduce your exposure to pesticides, there is no evidence that the trace amounts in food are in danger. foundific surveys have organic foods are much more nutritious, and just because food is organic, it doesn't mean it is good for you. it may be nearly as high in sugar, sodium, and other unhealthy ingredients as nonorganic products. yet more farms are going organic to see the appetite for pure food. with big supermarket chains like kroger selling more organic products and amazon's determination to drive down prices at whole foods, organic foods should only increase in popularity. healthy or not. ♪ just one of the many quick takes you can find on the bloomberg, and you can also find them at bloomberg.com, along with all the latest business news and analysis 24 hours a
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>> i'm mark crumpton in new york. you are watching "bloomberg technology." here's a check of first word news. president trump addressed the nra convention in dallas. hisold the convention that administration will always fight for the right to bear arms. >> your second amendment rights are under siege, but they will siege aser be under long as i'm your president. >> rudy giuliani says payments to president trump's personal attorney were not a campaign violation. he put out a statement today to clarify comments he made which suggested a disconnect with the white house. he a
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