♪ >> coming up on "bloomberg best," the stories that shape the week in business around the world. uncertainty remains a constant for investors and drama continues to escalate on trade, diplomacy, and politics. >> looks like a trade cease-fire is no more. we may see a freefall of oil production. we have seen to be in a currency crisis right now. >> president trump is trying to keep the door open. >> deutsche bank is ready to see its shareholders at its annual meeting. >> facebook's strategy seems to be, i will get back to you. i will get back to you. i will get back to you. conferenceaders at a

share words with bloomberg. >> donald trump has expressed concerns of -- concerns about a new arms race. -- and asof experts markets react, the experts offer their perspective. >> the bank continues to raise rates and it will not be good for economies. >> the u.s. is back in business and is moving forward. >> you have got to be consistent in terms of how you manage credit, and you have to be looking for signals. >> central bank governors are good at their job. >> growth in the workforce and growth in productivity, and i do not see us making policy steps to address either. >> it is all straight ahead on, "bloomberg best." ♪ >> hello, and welcome. "bloomberg best."

analysis of business news all around the world. this week began with the ongoing , trade battle between china and united states. >> washington says tariffs are on hold as beijing significantly decreases its purchases of american goods. >> it feels like a market change in town from both sides. stepping back from the brink and putting out this joint statement. committing to increase its imports of particularly u.s. agricultural and energy products, but also services. both sides committing to increasing trade and manufactured goods. >> how positive is it that we do not have a trade war imminent , but at the same time, there is no resolution to anything? >> it is better than nothing. [laughter] >> i don't know what to think of

these headlines. i don't think the calm will last. they were in the eye of the hurricane and i think negotiations will continue. rhetoric will heat up by both sides at some point. just three weeks to go, president trump casting doubts on his own summit with north korea. trump told reporters that there is a, "a very substantial chance it won't work out, and take place as planned on june 12." >> potentially in the long-term, the u.s. could advocate for having a one korea policy. he also expressed concerns about the ongoing trade war between the u.s. and china. the chinese obviously playing a crucial role on the korean peninsula, and the central banking committee approving a measure on a 23-2 bipartisan vote of an amendment led by

chris van hollen from maryland -- senator chris van hollen, a democrat from maryland, it would prohibit changing penalties regarding the lifting of trade restrictions against telecommunications firms like zte. >> the chances for this meeting falling apart are increasing. the question is should i not , expect for to take place? >> it could go either way at this point. i mean, the same event indicated that they are thinking hard, given that north korea has basically said we are not just , going to hand over our nuclear weapons for nothing. you know, it is going to be a phased approach any tough negotiation. >> the trouble continues in the e.m. as the turkish lira hit a fresh all-time low. the euro and the yen turning from a currency crisis to a country crisis. >> not yet. >> we seem to be in the midst of a currency crisis right now. the lera this morning dropped more than 5%.

more than 5.5%, the biggest decline in a decade. >> turkey's central bank raised .nterest rates what is the late liquidity window and what is raising its basis points mean in practice? >> it was formed to be an emergency rate. hasturkish central bank been innovative in its rate policy, and has been funding the market from that rate. raisehey did today was the main rate that matters by 300 basis points. the question i pose is whether that will be enough? and the reaction from markets is, probably not. >> the president threatening tariffs on imported cars and trucks, citing national security concerns. the largest importers to the united states would be the hardest hit. >> looks like the trade cease-fire is no more.

president trump again, citing national security concerns and instructing commerce secretary wilbur ross to launch an investigation into international automakers. if you take a look around the world at the response, it has been critical. japan's trade minister said that imposing this could cause confusion and lead to the breakdown of multilateral trade systems based on wto rules. south korea meanwhile has formed a task force, and is considering countermeasures. meanwhile, the chinese also saying they oppose what they are: "the abuse of national security investigations." >> president donald trump calling off his planned june 12 leaderwith north korean kim jong-un. he called it a setback for the world and threw the ball back into north korea's corey perry pres. trump: if and when kim

jong-un decides to engage in constructive dialogue, i am waiting. >> i think the u.s., or president trump, is trying to keep some sort of a door open. now we have to see whether the relationship continues to deteriorate from here, or whether there really is hope that a new date can be scheduled. but i will say, i think it will be very much harder to schedule a second plant meeting. meeting.d what is interesting to me is what this says about china. the rhetoric was that he needed china to help make this happen. now, -- now that need is gone and we have that trade issue. >> surprised by donald trump's decision to cancel the much-anticipated meeting between himself and kim jong-un. the country remains willing apparently to meet the united states at any time.

>> the chances of a summit happening, maybe not june 12 in singapore, but at some are just point, as likely today as they were yesterday. this is megaphone diplomacy coming from both sides, and this is an old tactic from the north koreans and that is ramp-up the tension to get maximum concessions ahead of the summit. pres. trump: we will see what happens. it could even be the 12. we are talking to them now. they very much wanted to happen and we will see what happens. >> you have been watching a session followed by a question-and-answer session with some of the world's most powerful leaders. it was a very serious discussion between french president emmanuel macron, russian president vladimir putin, shinzo abe and the imf managing director. they took on issues as wide-ranging as iran, climate change, korea. >> do you have any advice for the world in terms of how to deal with president trump?

thatse you are somebody was associated with the election of president trump, and you look and see what has happened and there are many people here who are under sanctions. he has just withdrawn from the iran deal. what do you think you have got from the relationship with him? toi was not connected trump's the material campaign. donald trump has expressed concern about a new arms race, and i concur with him fully. the measures that we are talking about, north korea, iran, they are not doing it together, but that is another reason to talk about these matters. >> to me, the headline was trade. and the view, the consensus of the panel without naming donald raising real, questions about his global trade policy. david: still ahead on "bloomberg

best," exclusive conversation with the wells fargo ceo tim sloan. that, more of the week's top business headlines. congress rolling back the dodd frank banking regulations. >> what this bill does is an larger gift to the larger bank. david this is bloomberg. : ♪

♪ >> this is "bloomberg best." let's continue with the result of a controversial presidential election in south america. >> more of the same in venezuela. president nicolas maduro won reelection with 60% of the vote.

he was condemned by the united states and other nations. it was widely expected -- it was a widely expected outcome, but mostly about border turnout and who came out to vote, will this legitimize the election? what happened? >> on the streets yesterday, we saw a very scant crowd. there were none of the crowds we have seen in years' past. participation levels were the lowest we have seen in decades. shamvote is asha essentially. -- moving forward, i do not think anyone expected this outcome to be different. >> a new level of sanctions on venezuela with concerns over its crude production. >> venezuela is producing 1.4 to 1.5 million barrels a day.

given this new wave of sanctions from the trump administration, the situation is likely to get worse before it gets better. the floor could be somewhat even below one million barrels a day in the rate of 500,000 to 600,000 barrels a day. if we get to that point, you know, prices can go even higher than what we are forecasting, up to the $85 to $95 barrel range. >> we may then see a freefall in oil production from venezuela. both in terms of the amount of oil and quality of oil. that may mean it is one of the pager risks for the oil markets in the months to come. >> the italian president has asked the northern region to form a government. conte is backed by an anti-immigrant league, whose euro-skeptic policies are around

the markets. what happens next? i am fascinated to know who will be the next finance minister? e will put together his list of cabinet leaders, and they will speak to members of parliament leaders and then he puts together his cabinet list and takes it back to the president. the finance manager is the key post a people are looking at. it will be a gentleman who has expressed skepticism about the euro common currency. the government plans to confront the e.u. on a lot of issues, so conte says he will talk about the conclusion of the banking union, asylum-seekers, and issues such as that. they will be starting very quickly to make their presence known in brussels. today isent trump expected to sign into law the comprehensive banking bill that thousand back on the restrictions of dodd-frank. includes increasing the threshold, and reducing the number of banks that are facing

the tougher regulations, smaller banks get relief from volcker, and a relief for custodial banks. >> the negative effects of the regulation in terms of cost, that has been a big one. it has been big for the smallest bank that don't have the big base to leverage the costs, so that relief is important. it does save them some of the compliance cost, but the other aspect is, it makes it perhaps more beneficial for these banks to merge. >> it is a good thing for some of the smaller banks, the smaller community banks, we'll get some relief under this bill, but that should not hide the fact that what this bill does it is an entirely, unnecessary gift to the larger banks. you are talking about to release up to $250 billion in assets. >> china is cutting import duties on cars from 25% to 15%. auto stocks around the world are rallying on the news.

benefittomakers will the most? >> it will probably be the makers of the high end, premium car manufacturers like porsche, and jaguar -- like porsche, jaguar, land rover, the manufacturers that do not have a large production facility in place in china, and rely more on importing vehicles into the market. >> one of the highest profile glass ceilings in finance has been smashed. the new york stock exchange promoted stacy cunningham to president. she now becomes the first woman to be the full head of the 226-year-old institution. it is a remarkable story given that she started as an intern at the big board. >> yeah, she was a floor trader as an intern, and she talked to talked a few years ago to some interns about her story.

she said the first day on the floor, she knew it was for her. she stated as a floor trader for over a decade. she has been coo for a number of years, and has executive-level experience at the firm. tom farley is teaming up on the new venture, so they were able to move her up pretty quickly. >> the federal reserve continued to signal a slow, cautious pace of rate hikes in order to keep the u.s. economy growing and inflation balance. -- and balanced. the message to the markets was there is no reason to rush to raise rates. they now dip below 3%, and all the major benchmarks cross back into the green. the federal open market committee, the fomc basically makes it look like a slamdunk. it is a seal deal. there will be a june rate hike. most participants, that means there was only jim bullard from the st. louis fed who does not think that the fed should be hiking rates at all, agreed. fiscal stimulus coming, it will

likely soon be appropriate for the committee to take another step in removing a policy accommodation. it was also noted that a temporary period of inflation modestly above 2% would be consistent with the committee's inflation and could be helpful in anchoring longer run expectations and consistent with that objective. sounds dovish. they are going to say it is helpful having above targets. >> the u.s. government is dramatically rationing up digital of the red hot currency market. according to people familiar with the matter, the justice department has opened up a criminal investigation into whether traders are manipulating the price of bitcoin. they worry that virtual currencies are susceptible to fraud for a number of reasons. asked this is a significant moment. and i would point out that the agency involved with working with the u.s. justice department is the commodities commission,

which is not another commission which is already investigating. have the two capital market agencies in the u.s., both investigating these processes. to the justice probe, it looks like they are looking at the traditional frauds we have seen in the stock market. you are seeing spoofing, wash trade, basically all of those manipulative tricks that stock proctors like to do to boost the price, and get out at the expense of innocent investors. that is very interesting. get to deutsche bank, the new chief executive wasting no time overhauling germany's biggest lender. earlier today, addressed to shareholders at the deutsche bank's annual general meeting in frankfurt. >> we are committed to our corporate and investment bank, and we are staying international. we are active in more than 60

countries. and that is the way it is going to stay. >> it is interesting he led by saying they are going to be a global bank because it is true they are cutting jobs globally. for the last couple of weeks, we have been talking a lot about where they would be cutting in the u.s. first it was 10%, 20%, and now globally. equities and rates. and so, we are going to see what they are really going to be committed to perish shareholders -- wead mixed responses are going to see what they are really going to be committed to. shareholders have had mixed responses. >> spain's prime minister said this morning that he aims to complete his four-year term, but is not calling for snap elections. we got the party suggesting there will be a no-confidence vote, but he is saying, i am determined to stay. what happens next? >> the whole political situation in spain ended this week with a very dramatic corruption

verdict, in which a whole host of former officials from the party were sentenced to more than 300 years in total for essentially running a racket on his watch. but he is holding his ground. he is betting the opposition parties will not be a will to form and if you dig's his heels in, he will be able to survive. ♪

♪ >> welcome back to "bloomberg best." this week, bloomberg's erik schatzker sat down with an exclusive interview with wells fargo's ceo. they talked about the public image of the lender and the challenges of markets where wells fargo is concerned. >> there are some markets that

we are a little bit concerned about. auto, we have pulled back. i think we have pulled back enough and now will be growing that business again. but we have thousands of people. >> where else? >> we are concerned about commercial real estate activity. again, we are the largest real estate lender in this country. we love that business. but there are some transactions that are being done today that same a little bit frothy. and again, i do not think anybody is smart enough to pick the point that credit turns. -- but you to be have got to be consistent in terms of how you manage credit and you have got to be looking , for signals. erik -- erik what are you keeping a : close eye on to know when the cycle has turned? >> first and foremost, what is the fundamental economic health of this country. most of our businesses in the -- most of our business is here

in the u.s., so are we going from a gdp standpoint, rb grading jobs? but even in that environment, there is a lot of this location occurring because of technology and other reasons. it can impact our customers. erik: there is a lot of concern out there that the yield curve may invert as the fed raises short-term interest rates. concerned because in the past, it has launched a recession. do you share that concern? >> it certainly could invert. i do not think that is a inverted over a year or two would be a concern that we have a recession, i think it has more to do with the fact that if you look around the world, long-term rates and in japan in particular are much lower than they are in the u.s. you could argue whether or not that makes sense from a returns standpoint, and that is what is keeping a ceiling on longer-term rates. so you see the yield curve flattening out a little bit.

erik the 10 year, the 10 year : treasury that 3.1% today. >> i'm not smart enough to know, erik. >> you are risk managing your balance sheet. >> we have great people in our company managing that all the time. could i imagine saying a 10 year at 3.5% or 4% sometime in the next six to 12 months? absolutely. we have had a significant backup of almost 50 basis points in the last few months. that economicieve activity not only in the u.s. but around the world is going to continue to increase, you can imagine rates getting in that range. >> coming up on this edition of "bloomberg best," more of this week's most compelling conversations. brexit. just one of those unresolved issues. that is why boris johnson says britain's policies must be decisive. >> we have confidence in that.

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david: this is "bloomberg best." global trade tensions weighed on markets this week and traders share their thoughts with bloomberg television. steve bannon on boris johnson. let's talk with bannon, who condemned the trade between u.s. and china. >> what started as a defined process because we were taking a hard line as soon as we started to get soft is vague and general.

what the chinese one to do is play for time. particularly, they want to see the political capital donald trump has and what happens in november, when happens in 2020. they have never had to face someone in a leadership position in the united states of america that understands what is at stake here in this industrial relationship we have, and trump has done more in 1.5 years than administrations over 30 years. he has put to live the fact we have no tools, so the chinese are playing for time. i have been a strong advocate that the best thing to do with china is a confrontation and not one or you try to go to war with them. they are already at trade war with us. a confrontation where we are firm and our beliefs and we will not let you steal her innovation and basically raped silicon valley. it is not going to happen.

>> the prime minister is the base of the plan, which is to get on with that project, and that is what we are going to do. what people like argentina, peru, chile, free trading countries, what they want to hear from us is that we have confidence and we will get on and take that control of our tariff schedules, and i think that is what they want to hear and what they are hearing. >> it has to be quick. you cannot be in the external tariff for long. >> i think it is important for people to have a sense of when it will happen to be able to do it as fast as reasonably possible. >> what is your bottom line? if the u.k. ends up shackled into an arrangement with the european union with terrorists for a long time, would you be -- with tarrifs for a long time, would you be prepared to walk away? >> the prime minister has made it clear that we are coming out of the single market. what is entailed by those

promises is precise. it means we take that control of our tarrifs and we run our own commercial policy. it means we are able to do things differently if we choose when it comes to our regulatory framework. otherwise, you are not taking that control of your laws or borders. the prime minister has been emphatic about that. david: fiscal and monetary policy were also the subject of discussion this week in the emerging and developed market space. let's take an overview with bloomberg markets asia to talk about growing challenges countries, like turkey. >> turkey is quite worried. do you see a negative connotation?

is it possible? >> definitely, if the general movement is down, you have the selling process going on. etf funds are big now, and once machines stop selling, you don't get quite an effect. >> we have seen central banks turned defensive. we had bank indonesia raising rates. lastly, brazil held rates, as well. should we expect more of that from emerging-market central banks? >> definitely. you will see more of that and it will not be good for the markets, as you can imagine, if you have rising interest rates. people are less likely to put money into the markets and even in the bank and earn high interest rates. this is an important development we have to watch carefully. >> in indonesia, this has already pumped in seven dollars, and it has done little. what more can you do and how many more great increases can we seek to help prop up the

currency? >> unfortunately, central banks continue to use this tool which usually does not work because of people lose confidence in the currency, they will so regardless because they have learned the hard way in the past that continuing to hold on will not be good. it is better to get out early. i think you will see this continuing. the banks will continue to raise rates and it will not be good for the economy's. what they should be doing is giving confidence to the market by reducing government spending, by cutting down on the bureaucracy. >> in terms of monetary policy, it is always better for all political leaders to let bank governors to the job they have to do and preserve the income. some of the comments made alerted the international community and investors to the fact that the central bank of turkey could be under directions, instructions,

insulins, and that has created a sense of uncertainty, lack of confidence, which have found its way into the markets. >> with your message to the president of turkey say, please stay away? >> i think everybody has to do their job where they are, and i think central bank governors general are good at their job and they should be left to it. monetary policy in relation to interest rates and currency determination, it is best to let it be handled by the experts. particularly if they have a good set of tools. they have some strong fundamentals. it would be much better to leave it to them. >> did anyone see turkey coming in this way? were you worried about turkey

before this episode or is it a self-inflicted wound? >> we did say back in our pre-meetings in april for anybody who doubts they were published, we did say with dollar strengthening with monetary policy tightening in the u.s., we would most likely see a flow back of capitals from emerging markets where they had said in the last couple of years and last part of 2017. this is exactly what we are seeing, strengthening of the dollar in the last couple of months, capital flows moving back, and the 10 year treasuries

at 3%, so there is a flow back we are seeing, which is going to answer to some of the emerging markets that have not taken the necessary precautions, or that are weak in the fundamentals. >> i think these underlying concerns about sort of a more euro government involving core countries in the eurozone has always been there. we are seeing now some debate that for europe is not good. i think europe needs to commit to take europe to the next level, and any discussion about changing the underlying agreements is really not productive. we are seeing that being penalized in the markets. if those talks and rumors continue, you will see that had been continue. it is a nobody's interest to question the fundamentals of the agreement that has brought europe together. >> are we back at the european debt crisis? could we go back to the european debt crisis? >> know, this is more isolated. i think you see strong momentum out of germany and france to take your lord, and we always knew in that debate, italy is an important part and they are not yet on board for this debate.

i think we are watching this play out. the government that has been in place in italy has really been monitoring the situation well. i think an anti-european movement in any country, is really causing europe to go back and to be the focus of markets. with brexit happening, there is already a lot of focus on europe. you see the unique winner out of the discussion is the u.s. dollar, which is strengthening and monetary policy continues to normalize. the u.s. is back in business moving forward and the europe has to watch that it is not that far behind. >> what are the biggest threats to the u.s. economy now? >> the biggest threats are what is staring us in the face, our workforce is aging. our skill levels in the united states are lagging in the world, we ranked 25th out of oic countries, and the last thing goes we are highly leveraged and we just leveraged up late in the economic cycle. i am worried that will create a headwind economic growth.

it means in the next downturn, we may not have capacity for fiscal policy. those ultimately mattered the most and worry me the most. >> there is always the question of when people think recession might be coming. i assume you are of the view that recessions do not die of old age, but there is a feeling in the market -- >> expansions, right. >> that maybe we are seeing the yield curve tell us something. >> well, there is always some not immaterial probability of recession, as you know. what i am worried about is sustainable economic growth. we are going to have recessions. my job is to make sure that ups and down cycles we have maximum

sustainable employment and price stability. what i'm worried about now is not the short-term cyclical questions, but i am worried, are we doing the right things to grow gdp? gdp is made up of growth in the workforce and productivity, and i do not see us making policy steps to address either. both look like they will be sluggish and out years. we just cannot notice it as much now because we have a large fiscal stimulus and the fed has been accommodative. ♪

david: this is "bloomberg best." i am david ingles. let's continue with more company news and another round of comcast's heavyweight battle

with disney over fox's entertainment assets. >> titans take the ring as a battle continues. regulators are clearing the way for comcast's $30 billion bid from britain's largest pay-tv company. the stage is cleared by matt hancock, the minister who oversees it, and seems there is a public interest issue it comes to this offer. >> i think that makes sense because comcast is largely a u.s. cable television operator and they have assets with a substantial presence in the u.k. they could potentially have overlap, but in terms of the real public interest issues, which is around control of news media with the fox bid, this is the news i think people expected to hear. >> comcast confirming they may make an all cash offer. fox has agreed to sell to disney. the stock value is valued at $53

billion and comcast saying their offer would be larger. that would include fox news, and other businesses. comcast said today that the announced they are looking at it and they are preparing their bid. mind you, comcast did make an offer late last year and they were bidding at 60% higher, and -- 16% higher, and the box board at the time rejected that in favor of the disney offer, which was lower. the fox shareholder meeting to decide on the disney bid is in the next few weeks, one of the reasons comcast decided to make

this public today as they want shareholders to know they are a rival option before the vote goes ahead. >> shares of ge rising the most in a month after the ceo took the biggest step yet in his turnaround plan. they will merge their locomotive business with a tech valued at $11 billion. they are going to maintain a majority ownership. >> that is right. it is a complicated deal. they are selling assets to wabtec and taking other pieces of the locomotives business and merging that with the wabtec and their shareholders will own 51% but they will be largely passive and wabtec will keep the name. >> ge shares are falling the most in six months. flannery is not finding it easy to sell turbines. >> the market continues to be challenging for new gas service. >> what did he say that really rocked investors? the last earnings report that came out actually seemed like he was getting things back on track. >> the comments people are pulling out of this is there is no quick fix and the power market. to me, that should not be news to anybody.

ge has been clear they expect weak demand in the power market the next couple of years. today, he said through 2020 they are not looking for a big pick up. the number that stood out for me was a 10% profit margin target in the power unit. that is down from a previous goal of low to mid-teens. that is important because moody's has highlighted a low to mid-teens profit margin and that power unit as an important goal. failure to reach that could because for a downgrade. flannery said it is a timing issue but the question is, how much patience to the credit rating agencies have? >> a motor group has canceled plans for an $8.8 billion deal in with an unprecedented victory for shareholders. the second biggest conglomerate has plan to restructure to pave the way for succession but is now on hold. what are shareholders winning with this decision? >> elliott management, the active shareholder leading the

fight is asking for $11 billion in cash return to shareholders. they also wanted increase in dividends, independent directors, and other steps to improve corporate governance. there is a lot there. hyundai did not say they would implement those, but by rejecting the previous plan, the expectation is they will move more toward the kind of ideas that elliott was proposing. more broadly, this shows that the group is seeing that the future lies with shareholders, and going along with their interest more than the founding emily's interests'-- familys interests. >> it abide in supreme court today decided employees could give up their rights to file class-action lawsuits against employers, taking mandatory arbitration clauses one step further. give us a sense of why they decided that way. >> the court was dealing with a situation where an employee

signs an agreement as a condition of employment that says any disputes i have with you, i will take this arbitration and pursue them individually. millions of employees have signed agreements like this. the supreme court said based on a 1925 statute, the employer can enforce that and effectively keep the employee from pressing suits over a small amount of of disputed wages, from pressing them as a class-action. >> energy finance issued their latest report and a standout is china will continue to be the largest eb market through 2040. it is the blue bar you pay attention to, china's market share of vb. in the other is europe and the white is the u.s. is this a subsidy situation? >> the ev market, we talk about tesla, and it is 10% of the ev market. we have seen rebates and tax e

-- tax incentives for oems to sell the ev and this is what characterizes it. we expect that the change in the next five to seven years. will electric vehicles be able -- >> when will electric vehicles be able to share for themselves? what will change that? batteries? >> prices have fallen 80% since 2010. we expect that to fall another 50%. we think that is where the crossover parity is. 2025 is in the expect the upfront cost of electric vehicles to be compared it to combustion engines. today, on an operating basis, the total cost of ownership is making sense already. >> facebook ceo mark zuckerberg facing another grilling over the user data scandal. it left lawmakers frustrated by dodging questions.

>> i asked six yes and no questions and got not a single answer. >> i will make sure we follow up and get you answers to those. >> what were some unanswered questions? >> facebook at this hearing where all the questions were asked for about an hour and zuckerberg responded in bulk for about 26 minutes. he said, you ask questions about content, here is what i think. you asked me about data, here is what we are doing our data. it did not get to the heart of a lot of specific questions that european lawmakers prepared. all of these very sort of clear and concise questions zuckerberg was able to answer them with general steps the company has taken to try and do a better job in the last few weeks. >> from the spectacle of nonanswers, and bizarrely, facebook strategy seems to be go to testify, whether it is that

congress and the u.s., or the european parliament, or the british committee, and then saying, i will get back to you. i will get back to you. that is a good question, i will get back to you. >> i think it is important for us to have three important engagements. to apologize of european citizens. the second point is it will respect the new data protection rules in europe. third, it will work for a good election campaign for 2019. >> the california jury has awarded more than half $1 billion from samson in the retrial of a dispute. apple had sought about 4 billion and samsung argued it should only pay 28 billion for infringements.

>> samson has said it disagrees with the ruling. the big dispute -- samsung has said it disagrees with the ruling. the big dispute is, what should the penalties be? should be on all sales that samsung got from the entire products sold with these infringing patents, or should they only pay for a particular component that infringes? that is the dispute we will see the next few months and years perhaps. ♪

>> this is the spread between the italian 10 year and german ten-year, look what has happened

in the last week, the spread continues to widen, the widest since june last year, having jumped by 34 basis points last week. david: we have about 30,000 functions on the bloomberg and we enjoyed showing you are favorites on bloomberg television. maybe they will become your favorites, too. here is a function you will find useful, qic . here is a quick take from this continues to widen, the widest since june last year, having jumped by 34 basis points last from this week. >> cyberattacks had the backing of one nation with the intent of party another. >> it is using a computer and hacking the copper something you ordinarily would need a bomber got to do. >> this takes on many forms, infecting an enemy computer by disabling it with messages, or with good old-fashioned malware, like a virus or worm. >> shutting off power is a big one. shutting off service in transportation networks, like real services.

>> a number of countries, including the u.s., are known to have active cyber warfare programs, but -- >> russia decided to be noisy and make it known they had these capabilities and they are ready to use them. >> like causing two large-scale power outages in ukraine or manipulating social media to sway elections. >> we have to worry not about cyber warfare but information operations. that is what happened in the 2016 election with the u.s. >> attacks including information operations that go by the thousands each year since 2006, and those are the attacks we know about. >> a lot more happens that the general public is not aware of. we do not know how often it happens. we have no idea. david: that was one of many you can find on the bloomberg. you can also find the mac bloomberg.com, along with -- find them at bloomberg.com, along with all of the business analysis for the four hours a day. that will be all for "bloomberg best" this week. i am david ingles.

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david: you think that women can run defense companies better than men, or all companies better than men? [applause] marillyn: it is a team sport. it isn't all about me. david: donald trump sent out a tweet saying your biggest product, the f-35, was too expensive. marillyn: my team engaged and had a chance to have a dialogue with them. david: what is so unique about the f-35? marillyn: it is the most advanced fighter in the world. david: you were recently voted the 22nd most harmful woman in the entire world. marillyn: i get a note from my brother that says, why was oprah higher than you? >> will you fix your tie please? >> people wouldn't recognize me if my tie was fixed.