>> coming up on "bloomberg best ," the stories that shaped the week in business around the world. president trump's angry tweeting. >> intention to make a deal today. we made the deal. >> the ecb keeps policy on a patient half. >> they know they fired the arsenal they have. >> china's central bank signals a shift toward stimulus. the lira shutters in response. >> investors are losing faith in the central bank's independence. >> reports coming fast and furious. >> we want to be a global

carmaker. >> that was a disappointing result for us. >> it maximizes the value for our shareholders after-tax. >> i am confident the rest of the year will be ok. >> in an interview, deutsche bank's chief executive insist the lender is not losing ground in fixed-income trading carried >> -- trading. >> they see us offering the full range of investment banking. >> perspective on the global economy from leading figures in banking and finance. >> it will be difficult for fixed income investors to do well. >> the outlook for commodities is positive at the end of this year. >> i don't see at this point, barring a trade war, any serious problems with the economy. >> it is all straight ahead on "bloomberg best."

hello, and welcome. i'm emma chandra, this is "bloomberg best." your weekly review of his miss analysis and interviews from bloomberg television around the world. let's start with a day by day look at the headlines. the week began with a flurry of sparring between europe, the united states and iran. >> president trump and the uranian -- iranian president traded -- comparing them to the mafia and accusing them of corruption and abuse. >> to the regime's prosperity -- to the regime, the population are casualties to fill the resolution -- revelation. the unitedhreaten states again or you will suffer consequences the likes of which few have suffered before." >> you are seeing a coordinator

campaign by the administration in the week since president 2015 back out of the nuclear agreement with iran, it is trying to bolster support among european allies around the globe to strangle iran's economy. they are re-imposing a set of sanctions next month and in november. that sanctions regime will not work unless other countries agreed to participate. jumping as much as 6.1% in late trading after reporting a strong second quarter. google is raking in marketing cash from appetizers, helping them move past the regulatory troubles in europe. what is your biggest take away from this set of numbers? >> big surprise from google carried revenue growing 26% year-over-year, despite the $5 billion fine coming from the european commission, which google is appealing despite regulatory concerns in europe,

this business is growing leaps and bounds. phone call with the cfo of out of that she strongly attributed this growth to mobile. she said we are talking about the strength in mobile when the focus needs to be on innovation with mobile. can enhanced growth across platforms support those opportunities? easing --ppears to be entering an easing phase, softer regulatory measures to loosen monetary conditions. this sounds like a policy shift. >> it appears to be edging that we haven'tficially, had an announcement around monetary policy changes. the pboc's official line is monetary policy is neutral. we did get a statement saying they wanted to see more proactive fiscal policy measures.

they want to see changes to tax regimes, regulatory regimes, to help underpin domestic demand. it was interesting, deleveraging wasn't mentioned in the statement. they did say they did want to see a daily news of stimulus -- deluge of stimulus measures. >> donald trump meeting with jean-claude juncker with tough words for the eu ahead of today's talks. the president tweaking the eu is coming to negotiate a deal on trade. i have an idea, both sides drop all tariffs and subsidies. that would finally be called free market and fair trade. >> i had intention to make a deal today and we made a deal. the big news is trump has pulled back his threat of tariffs on autos and the europeans have agreed to buy more u.s. soybeans and natural gas. we still have got the tit-for-tat with china going on

that has not been resolved, but this is definitely good news all around for the auto industry and possibly for some others going ahead. facebook shares tanked in after-hours trading after a lackluster second-quarter -- report. the first sign facebook is seeing disenchantment in the midst of public scandals over privacy and content. the tech giant missed estimates on revenue for the first time since 2015. >> revenue is up 40% year-over-year, but they did disappoint vis-a-vis expectations and that in itself is historic. around 19k is down percent, wiping $120 billion from its might -- market capitalization. the biggest one-day loss in market cap in u.s. history. >> what was surprising was the incremental cost they are talking about. the cost in dealing with that it

integrity issues last quarter, this time they put a number on it. expenses hitting a higher level for a longer period of time than investors were looking for. still a tremendous amount of growth, but clearly a reset for a company's valuation that was at all all-time high and not expecting this discount all. chain kipping -- keeping -- rates unchanged. president draghi has the market debating over how to define summer, and not this summer, but some are 2019. >> draghi and policymakers globally delivered what they wanted, a predictable and stable monetary policy outcome. they wanted to remove uncertainty around exit strategies. the have fired all the bullets, the entire arsenal they have and all it takes is miscommunication

around the forward-looking component to unwind all that dramatic effort. amazon investors have shrugged off second-quarter sales that missed estimates, focusing instead on soaring profit that came in at more than double analyst projections. >> historically, everyone has invested in amazon because of the top line. revenue has soared in 15 years but with little expectation in the near term. bear in mind, revenue still grew, it is slightly short of expectations. amazon was able to demonstrate that conflict the switch and ramp up that profitability. taken a hit.s shares are plunging in premarket trading as the company missed estimates for monthly active users in the second quarter. they missed on monthly average users. they did well on daily averages, but killed in the free markets are.

>> the real concern for twitter is size and scale. the numbers came in ok, but investors for this particular name are always concerned in the back of their mind about scale, and is their place in the digital marketing place -- advertising space against the facebook's of the world? >> the proposal for accommodation between fox and disney has been approved by fox shareholders. combination of the two is all but guaranteed, but not a done deal yet. >> know, look. with comcast pulling out, everyone thought this is what would happen and shareholders would approve this. the question now, all investor focus is now going to shift across the ocean and everyone is going to be looking at sky in europe and trying to figure out, is disney and fox done and they will sacrifice this and let it go effectively in a frozen sort of way to comcast, or are they

going to outbid comcast to try to take sky? will try to still win sky, but we will see what happens over the coming weeks. beats strongest growth since 2014, economists suggesting this is as good as it gets. >> as the trade deals come in one by one, we are going to go a lot higher than these great numbers. >> this was a great number carried no question, it was propped up by consumer spending and it involved a really solid revision to first-quarter gdp. saw fixed investment missed. that has to do with low rates and tax reform. as you see fed rates raise and some of those one-off effects fade, you will not see quite these numbers. emma: still ahead as we review the week on "bloomberg best," a conversation with the new deutsche bank ceo christian

they will meets short-term targets whatever happens with interest rates. sees thedman sachs global economy reaching an inflection point. plus, earnings and more earnings. commodity prices and currency moves the em hard, dampening its forecast. >> we are seeing $1 billion of unmitigated headwinds for the year. emma: this is bloomberg. ♪

emma: this is "bloomberg best." companieshandra caret across the world releasing earnings reports this week. let's begin the roundup with some of the major european banks. market foratile ubs's investment bank, helping

beat expectations, but that contrasted with the wealth plans unit which posted net yield money outflows and missed profit estimates. >> this quarter had some seasonality effect. outflows were expected. we had run off outflows from stockate transferred option plan, which is an interesting business, but low margin. we had almost no effect on leverage, on lending so clients are very cautious. we also had a very good signal of good momentum for financial manager compared to last year. outside the u.s., we had almost 6 billion net new money. overall, i am still positive about our developments and we don't look at net new money on a quarter to quarter basis. i am confident the rest of the year will be ok. switzerland's third largest

wealth manager has boosted net new money in the first half, in line with the company's target. >> where are you finding these bankers? which is giving you the best yield? east,is asia, the middle and europe. reasons they are attracted by our platform is the business model. the privatel that bankers life because they don't have to push our own product only. second-quarter net income beat the highest of analyst estimates. confidenth bank is they will achieve its 2018 goals. >> this is the first of many quarters we saw positive long developedall our economies. obviously, we continue to see

strong growth despite the elections in mexico, the uncertainty around mexico and brazil in october. we look for healthy growth in the -- we saw healthy growth in latin america. this is on the back of positive growth in the number of loyal and digital customers, which grew in places close to 20%, but we have seen particularly in europe a better quarter, the best quarter we have seen in a few years. psa says its first-half profit surged on higher car sales and cost cuts. the automaker boosted its profit against raw materials. wantr the time being, we to be recognizing that yes, we are performing well in europe and europe is a place where we understand our customers and can make great progress -- products with great technology and create value.

that is the reason we are such a big player in this market. that does not change our strategic plan where we want to become a global carmaker with cutting edge efficiency. that means we will continue developed -- to develop ourselves in china, latin america, eurasia, africa, middle east and india. this is what we are doing now, but for the time being, it is great to be a european carmaker and create value in europe. general motors announced second-quarter earnings, beating estimates for earnings per share and showing record returns from china and its financing business. also, it took its guidance for the year down. >> big picture, $1 billion of unmitigated headwinds for the balance of the year. some came in q2 and we expected to continue -- continue -- expected to continue for the rest of the year. of it is currency and primarily south america, hence our view it was prudent to

recalibrate expectations for overall earnings this year. ford reported results earlier this hour, adjusted earnings per share $.27, trailing estimates. ford cuts its 2018 earning outlook and season $11 billion restructuring charge over the next three to five years. >> the issue we had in china, as well as europe, those were the two factors behind the guidance change we provided today. they are really more about our business. if you look at china, we were down about 500,000 -- $500 million in consolidated and a joint ventures. an aging portfolio, we are under index in terms of the folio vis-a-vis the market. issuessome capabilities and market sale issues with

dealer profitability and stocks that we are going to have to address, as well. issues we have to address and have a plane to do so. we are making progress, but clearly, that was a very different -- disappointing result in china because that is a very important market. reports strong second-quarter reports, beating estimates on earnings per share and revenue and increasing guidance for the year overall. i wasn't the only announcement today. you talked about your health business, you will spin it off of an ipo. there was talk you could sell at for as much as $13 billion private equity. why did you decide to have an ipo? we announced a, strategic review with management and the board of this business unit. it had grown to be pretty substantial in scope and sale. -- scale. we look at holding it and selling it, and at the ipo path and chose that because it maximizes the value for

shareholders after-tax. it also will give a lingo a focus on its mission, to work with veterinarians to improve animal health and allow lily, the parent company, to focus on its critical mission, which is to keep producing life-changing medicines for patients. >> shall finally gave investors the share buyback they have been waiting for come even as profit fell short of expectations, and that is despite resurgent crude prices. the energy producer is starting a $25 billion per share repurchase program but the prophet was nearly -- short of the street's expectations. >> $4.7 billion of earnings is a solid result. integrated -- compared to the same quarter last year, up four compared to

the same quarter last year. our business, more than 30% down, linked to a difficult refining environment, a difficult trading environment as well. there are a few exchange rate effect that have a non-cash impact, therefore our earnings as a result of that are not as straightforward to predict as we would like, as well. in late tradeed despite beating estimates in the second quarter and reaping its full-year outlook. still seems there is uncertainty about the rest of the year. that is telling you not really a reflection on the performance in the quarter or this quarter. it is more a case of them not putting to rest some of the concerns that exist for the longer to medium-term future. >> the numbers were extremely strong in the quarter and for

the first half of the year. we raised our outlook for the full year by $2 billion on the top line and $.30 on the bottom line. we are building very strong andntum in the first half in our 50th year since intel has been around, 2018 will be our third record year in a row from a financial performance perspective. we feel good about the momentum ing andgenerat prospects for the future. ♪

emma: welcome back to "bloomberg best." i'm emma chandra carried deutsche bank reported earnings this week and had its weakest quarterly results in trading since the financial crisis. debt income dropped 17%.

-- 7% in theonly same period. in an interview with matt miller, christian sewing sounded a note of optimism. christian: the core business within the core business of investment bank, we had a good in particular credit rating. secondly, we went through a transformation in the second quarter, so you see one or the other adjustments we have done and therefore, we did it in one quarter. now we build up the capital, bring it back to the business am with processes we have, i very confident we will see growing revenue in the business going forward. matt: you say in the press release you remain confident about maintaining your position as the fourth largest house globally in fixed trading by revenues. it gives you that confidence? christian: the clients we get.

since i have been in this position, i have seen more than 150 clients globally. they see us as the european bank offering the full range of corporate investment banking services. expertise and products we have, and also if you look into the underlying business, into the developments we have seen over the last month , the last capital position we have, i am confident we can grow. matt: let's talk about the rate environment. we seem to have a clear path from mario draghi and the ecb. how confident are you we can see rates increase and how important is this to your business? management focus is now on the next 18 months. we have set ourselves clear goals for the next 18 months, for 2018 and 2019. we are saying we want to have a

return on equity at 4% at the end of 2019 and that does not depend on a rate increase. what we canlan actually influence. that is cost, that is capital, and that is what we are doing. of course, it would be nice to have rates increase, however that is not in my hands and this is not an underlying driver of the next 18 months. to be honest, it is always hard to predict rate increases and this is not part of the plan of the next 18 months. emma: coming up on "bloomberg best," more of the week's top business headlines, including a national vote in pakistan. and the it is this world bids farewell to -- business world bids farewell to a legend. 66.asses away age >> he was the fixer and had quite a job to do at fiat. emma: next, a range of expert opinion on the stage of global markets. >> at the end of the day, 16%

correction is in the cards and could happen at any time. emma: this is bloomberg. ♪

♪ >> you are watching "bloomberg best." even with the u.s. and eu declaring a trade truce this week, tariffs intentions still clouding outlooks for many businesses. guests on bloomberg television discussed the bigger picture of fiscal and monetary policy, and its impact on global growth. starting with the goldman sachs advisory doe director. ♪ >> overall, we are approaching a point of inflection. the really robust growth in gdp and the really robust gains in profits, these are happening right now, and we do expect them to decelerate.

it will be increasingly clear in somethingthat is som that does spook the market. i am also concerned about the nonfundamental factors that are so hard to quantify, whether it is the possibility of the trade war or something else untoward on the international front. these are things that could unsettle the markets. i am more concerned by the way about fixed income than i am equities. >> are you expecting a big correction in fixed income? how disruptive -- how quickly could that come, and how disruptive without be for the rest of the market? >> francine, if we take a look at what has already happened, there has already been a notable rise in interest rates at the intermediate and long end. the flattening of the yield curve has not been good for fixed income portfolio investors unless they have been very careful in cautious, trading around, looking for opportunities in credits in so one.

-- and so on. it will be increasingly difficult for investors to do well. we are looking at global bond markets, where government bond yields are negative for more than half a developed economy. that is not sustainable. in the united states, we have already seen a rise in the 10 year treasury yields, up to 3%. if it goes higher, we think it will, 3.6% by the end of next year. we would be cautious in fixed income. it is not a large enough increase in interest rates to damage the economy substantially, but it can hurt fixed income portfolios. ♪ >> you caught up with larry king on his results. he said, if we go to a fully exploded trade war between the united states and china, markets could go down by 10% to 15%. what is your call on the consequence of an explosion of these trade war's? >> you need to look at the performance of markets, of 20%

or more. at the end of the day, 10% or 15% correction can happen. i do see also -- >> could a trade war trigger that? >> there needs to be a constant and there is also potentially the need for the market to correct. i think it is in the cards. we believe that this will eventually be resolved, but our view is that is can get worse before they get better. ♪ ,> u.s. president donald trump 25% new tariffs on european car imports and car part imports. frame in terms of coming back to the u.s.? >> no, i don't think so. i think it will change the way we proceed in the way we do it. but of course, i think globally,

if we step back from this very short period of time, if we look at it from a broader perspective, it is better that we keep open trade. i think it will create more wealth for humanity, and it will create more win-win situations. stepping back, i think it is better, including for the u.s. citizens in the u.s. country, to have open trade. i think that's on the long-term. we recognize the current situation and we will adapt. >> will you go to canada instead? >> it is part of north america. >> so it's possible you would put more energy, more investment into canada rather than the u.s. because of these new tariffs? >> we look at it on the whole, we consider both markets are very important for us. we will implement a strategy that gives us the possibility to come to those two markets. but so far -- let's be pragmatic.

let's see how things are going to unfurl. we will see. ♪ >> the question is, in thinking about the outlook more broadly for commodities, are we at a turning point for the dollar? is the dollar going to get weaker from here? if you think about where is the fly in the ointment, it's the headwind created by the stronger dollar, which is a reflection of the weakness in demand in the emerging market, particularly china, but you can add in brazil, argentina, turkey. the question i asked right now, are we on the cusp of a turning point on the dollar, which would be a reflection of stronger growth in china? >> so, are we? >> i tend to think yes. but i feel comfortable saying that a few weeks ago after we saw 17 consecutive days of selling in copper. i thought we had seen the bottom but we had two or three more days. if you look at the chart of commodities, they have been bouncing around the bottom.

thinking about the view, why am i less confident today than it was two weeks ago, it is policy paralysis or policy fatigue. take oil. can it go above $80 i know? it is pretty difficult, given the administration's can't go below $70. saudi is likely to step in. we are in a trading them across most of these commodities. one thing we all agree on is, hey, china is likely to be successful in terms of its policy, demand growth is likely to be good, you are likely to use the iranian barrel. the outlook for commodities is positive at the end of the year. it's the sequence of events you go through to get to that positive outlook. a lot of uncertainty right now, given the policy backdrop. ♪ >> president trump's policy, a headwind or a tailwind? itlong-term, to be honest, hit us in 2017. that was the reason, from a pretext profit, we turn into a

net loss. but over time, it will also be positive for us, and it does not impact our day-to-day business. also on the tray side, this is actually something which in particular it's the underlying economy. i'm still of the expectation that we will find an agreement with the politicians, which is mutually beneficial for the economy. but so far that has not impacted our business. >> we are hearing concerns from german carmakers, other people in german industry, about the possibility of tariffs. you lead more money to german businesses than anyone else. what are you hearing about the possibility of terrorists? >> of course, everybody wishes that these tariff increases will not come. we are absolutely convinced that overall it is negative for the global economy. but on the other hand, i think in particular the german industries, the german corporate, have shown not only

resilience, but flexibility and adjustment capability in the past to react to various global trends, and they are coming out not only resilient, but even more profitable. evenfore i do believe that if there is the capacity to adjust, i think we will also be in a good business with our german corporate going forward. ♪ >> i don't see at this point, barring a trade war, which is something i can't prepare for, any problems with the economy. >> let me ask you about luxury, then. is this an area that seems to be insulated, regardless of what is happening in the global economy, as long as you have that demand from chinese consumers? >> well, nothing is ever insulated forever. the point that i made before, as long as the global economy is strong, things will be fine.

valuation will not be something people pay too much attention to. with the global economy starting to slow, if there's a recession, all bets are off. better to focus on what's going on in the economy and follow the sun. it's an esoteric question of valuation. >> we had a guest on the show earlier this week, he was saying -- one of the things he was talking about, you might remember, one of the things that led to the subprime crisis was this savings imbalance in the world, and that is still present. is that is something that causes you concern right now? >> is probably referring to what is commonly called the debt super cycle, which has fueled the global economy for a long time. there is a macro call to be made, and eventually it will end. call,such a huge macro who knows when it will happen? ♪

♪ >> this is "bloomberg best." let's continue our global tour of the week's top is the stories -- top business stories. fiat chrysler went through an executive transition, then suffered a painful and permanent loss. ♪ >> fiat chrysler has named the new ceo. it left sergio marchionne unable to return to work. it takes thed br reins, getting his hopes on the brain. >> they expected him to retire near 2019, nine months from now. essentially, fiat chrysler, this was already in place, there were

three top candidates. the cfo will stay and work with them. investors somehow were expecting him to leave fiat chrysler, this comes as a big surprisem because he was meant to stay there another five years. this is why the reaction is much bigger. ♪ >> the architect of fiat chrysler's dramatic turnaround has died. sergio marchionne was 66. he joined in 2004, related to the purchase of chrysler. he was a bit of a turnaround king. >> yes. he referred to himself several times as the fixer. he had quite a job to do at fiat. the company is arguably the most important italian business for

several decades. he managed to start this whole turnaround by extracting about $2 billion from general motors, which gave him some financial leverage to put together his turnaround plan. from there, he took the bet on chrysler, created the world's number seven carmaker, and off he went. ♪ >> qualcomm saying it is ready to abandon its pursuit of a decision. before we even heard anything from china, was it the m&a landscape? who saide to the ceo, there are bigger forces at work here, this is a geopolitical world we live in. we don't feel that changing. qualcomm just move forward, concentrating on what it is good at, trying to grow organically. markets that needed it. ♪ >> the white house throwing a

lifeline to farmers, cotton the cross hairs of the president's own trade war. the usda announcing a $12 billion aid package to farmers. when will it be deployed? >> we still need a lot of details. the white house announced $12 billion in assistance to farmers. it will come in three ways. one is direct purchases of commodities like slightly -- like soybeans, what has been targeted under this trade action going back with china and other countries. you also have direct purchase of commodities, everything from almonds to legumes to other forms of not, fruits, and vegetables. finally, you have a little art funding -- a little more funding for trade promotion. this is the president's own trade policies creating the situation, which has a lot of republicans concerned in terms of precedent in the amount of money being spent to bail out farmers. ♪ >> theresa may is stamping her

foot on the european union. the prime minister says she is taking control of negotiations brussels, directing strategy from her own office. that comes after months of tensions between the former brexit secretary, david davis, and her chief europe advisor. is it as simple as, she's back in charge, we will get a softer deal with the eu? >> what we will see over the summer is intensive negotiation led by mr. robbins, the civil servant who was in charge of all of this, all under the auspices of not a rebellious mr. davis, but all held very close by mrs. mary. >> the eu has directed the proposal for a trade deal in a critique,public saying they would never accept a customs plan. the british prime minister has to go back to the drawing board. what does michel barnier take issue with in this plan?

>> well, what theresa may proposed to the eu is that it outsources its collection. precedent ofly no a company outsourcing. practical, it isn't and there is simply no precedent so it cannot accept it. proposed, on banks, it a joint group between the eu and britain on banking regulation. the eu hasat regulatory autonomy. ♪ bankrkey is central keeping it central-bank unchanged, defying market expectations, sending the lira sharply lower as the president tightens his grip on the economy. >> it seems to me investors are

losing faith in the bank's independence. they were expecting a rate hike by at least 100 basis points, in the central bank failed to deliver anything at all. of course, inflation is running more than triple the central bank's target rate, and even though since april the central bank has raised by 500 basis points, investors say that more needs to be done to call inflation. that's exactly what they were expecting, but it seems the central bank had other ideas. ♪ a former cricket superstar on track to win the election, but probably will not secure a majority. he's looking to be the winner, but there are a lot of allegations surrounding not just the run-up to the poll. >> yeah. --some extent, this is certainly he had a big problem with the last election, but

diplomatic analysts are saying the military is going to overdrive in this election, saying that the military denies the allegations, but as we saw in the results and looks like he has a resounding victory, but not enough to form a government on his own. he does have the backing of the military, but how strong that government will be, what policies it will be able to implement, that is unclear. ♪ the boj offering to buy unlimited amounts of bonds for the second time this week, seeming to tame the yield increase spurred by speculation the central bank may consider adjusting its policy. volatility this week -- do investors really think the boj is going to tweak its policy next week? >> at this point, there has been so much speculation about some sort of a fine-tuning in the

bank of japan's stimulus program at next tuesday's meeting, that it would be a surprise to most market players if there is no change whatsoever. but for now, they have telegraphed today and monday that the guidelines are the guidelines, and they are ready to enforce them. on monday and again today, when yields started getting further away from 0% on the 10 year bond, they have come in to offer an unlimited amount of bond purchases to prevent a breakout in the yield. ♪ >> tesla warns investors yet again of reports that the company is trying to get refunds from suppliers. tesla shares dropped monday following a release of the memo in which the car company requested a return on an "meaningful" amount of payments. >> on one hand, if you are an investor and are concerned about their cash position, you could

say it is great. they are taking advantage of leverage. if you are running out of cash, you need more leverage in negotiations. on the other hand, it doesn't look totally sustainable. we are seeing a lot of stuff out of tesla over the past few months from workers describing very long hours, elon musk describing long hours, tents where they are making cars -- there's a lot of stuff that feels slapped together. that could be bad, or it could be a sign of a company that is doing everything that it can to get it done. ♪ >> bp made its biggest deal in almost two decades. it means to pay $10.5 billion for most of bhp billiton's onshore u.s. oil. it gives the london-based energy giant a position in the permian basin, a swath of west texas and new mexico, the world's fastest-growing major oil region.

>> it's an awful lot of money. analysts are looking at a $9 billion value, and what you have seen from shares is that they have gone down on the bp side, but up on the bhp side. some are wondering whether they overpaid for this deal. >> we think $10 billion, we believe the value in the know the value should be significantly above that from the assets we saw back into 2014. with the team we brought into our own lab for five years ago, we can see the potential. we will be able to realize that in the assets we have looked at. ♪

♪ look at the imap right now of the bloomberg european 500 index, dividing winners and

losers by industrial groups. you can see financials are doing quite well this morning. you can see this sliver of bright red in i.t. >> there are about 30,000 functions on the bloomberg, and we always enjoy showing you our favorite here on bloomberg television. maybe they will become your favorites. here's another function you will find useful. it will lead you to our quick takes, where you can find important context and fast insight into timely topics. here's a quick take from this week. ♪ >> when you think about your body, it may come as a surprise that half of you isn't really you. by quantity, only about 50% of the cells you carry around our human. the rest are microorganisms, like bacteria, fungi, and viruses, living on our inside you. that may sound unsanitary, but most of them are either harmless or beneficial. the research shows in our efforts to kill the bad germs, we are also killing too many

good ones, and it is hurting our health. scientific findings have drawn connections between human micro biomes to all sorts of problems, even psychiatric disorders. >> it's a rapidly developing field. i think the excitement is in really understanding what these germs are and what they do. >> the average human body harbors about 38 trillion microbiota of all kinds. researchers stress that individual therapies will take time to develop, but fecal transplants a varnish in progress in treating a difficult to treat pathogen which causes diarrhea and kills about 30,000 people per year in the u.s. but beyond specific treatment, one aspect of our micro biome has become clear -- but really matters. >> diversity confers a certain amount of flexibility onto a microbiota. have arobiota seems to modulating effect on your immune system, preparing you for

proteins and allergens you encounter in your life. >> people in developed countries have significantly less diversity of the microorganisms that populate their body compared to those in less developed places. the leading cause is thought to be excessive use of antibiotics in both medicine and agriculture. >> the most important thing to remember is that, for your own sake and for the sake of all of us, it is really important not to overuse antibiotics. >> people in developed countries also spent less time outdoors and have wessex sure to animals, factors that may decrease diversity of microbiota. study suggests growing up with the dog lowers a child's chances of having asthma. so go ahead, play in the dirt, and don't be afraid of dodd kisses. it's good for you. ♪ >> that was just one of the many 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 emma chandra. this is bloomberg. ♪

♪ emily: i'm emily chang in san francisco. this is "bloomberg technology." amazon reports earnings with sales from amazon web services surging nearly 50%. plus we will hear from the ceo of nx he after the deal with walk-on fell apart. is there an