ternet. which could save you hundreds of dollars a year. plus, get $150 dollars when you bring in your own phone. its a new kind of network designed to save you money. click, call or visit a store today. >> coming up on "bloomberg best ," the stories that shaped the week in business around the world. sanctions come down, tariffs go up. political hardball leaves a mark on markets. >> a clear message from china carried we won't just go after the small items. has been the line sanctions are put firmly on their radar screen. >> samsung rolls out its latest smartphone. >> mexico's leader steps down. withmusk jolts wall street a tweet. investors wonder what he is driving a. >> going private at that level

wouldn't make sense. >> when he said funding secured, was funding secured? >> voices in business and policy china in on the hot topic. more pressure on the short end of the curve. >> the market is pricing into higher risk for a financial crisis. >> plus, another deep dive into a deluge of earnings reports. cut costs,ooking to including some stock costs. >> it is all straight ahead on "bloomberg best." hello and welcome. i am michael mckee. this is "bloomberg best," your weekly review of the most important analysis and interviews from bloomberg television around the world. let's start with a top

headlines. since withdrawing from the nuclear deal in may, the u.s. has been turning up rhetorical heat on the government of iran. monday, he raised the economic pressure, a notch. iranstored sanctions on midnight tonight, reaffirms the u.s.'s plans to impose tougher inalties on oil imports november carried the move has drawn fresh condemnation from european allies who are standing by the 2015 nuclear deal that the president withdrew from in may. >> what are in these sanctions? impacting u.s. dollar purchases aluminum and industrial software, as well as potentially impacting the automotive sector and iranian debt purchases. the second round of additional sanctions are set to begin in mid-november. we have seen the rialto -- the

real hit by these sanctions significantly. there have been waivers for some countries that would impact the energy sector. in an address, president rouhani said iran is open to talks with the u.s. if they are sincere, but insisted such dialogue would be pointless while the nation is being hit with sanctions. negotiations and sanctions at the same time is meaningless. to offsetn rouhani do the impact of this particular round of sanctions? i think -- is not a great deal and there is a huge amount riding on what the europeans can provide. turkey and china have stood up strongly against the sanctions and china, refusing to cut its own oil from iran. that will be important. imf a lot ford turkey, the lira plummeting to a

record low and 10 year deal -- yields breaking a record carried what can officials due to address issues that have gotten more dramatic for hours? >> they have to get out of this situation with the u.s. and the u.s. has made it clear top -- time has run out and there is only one way to get out of this and that is to release the u.s. pastor and others the u.s. is calling political hostages. the fact markets are responding so strongly to this shows how vulnerable the turkish economy is hearing -- is. >> elon musk wrote "i am considering taking tesla private at $420, funding secured." makeing private wouldn't sense for a number of reasons. the company needs funding to grow and to go private at $420 a

share would probably be a total billion, about $14 billion that he has he would probably finance around the eight alien dollars. $58 importantly, -- billion. he needs to raise money for a china factory, money for the truck. tesla, closing 11% higher, but hardly a straight line up. when you will see is a horizontal line. what happened during the time? >> it is crazy. then theytweeted, stopped trading, then a statement came out about an hour and change after that happened and they resumed trading. he wrote then is statement in that amount of time. >> the united states has confirmed it will impose 25%

tariffs on an additional $16 billion of chinese goods as of the 23rd of this month. that delivers on a previous threat from the trump administration and follows the $34 billion worth of tariffs already in play. the 50 is the second of billion announced. 25% levels, not unexpected. 270 ninelist of about chinese products that will he hit from august 20 heard, including things like steam turbines and motorcycles. beijing announced it will retaliate against the latest round of tariffs from the trump administration inclined with a 25% charge -- fine on $16 billion worth of u.s. goods. the surprise was a revised their list and now included are some petroleum related product. of the u.s.uce pot trying to grow the economy in that area and energy exports. from was a clear message

china by revising the list that we are not going to go after somethe piddly items, but of the stuff that will be a centerpiece of the u.s. economy. they did say that this is an past the point of no return. we could see this rolled back, but it is up to the u.s. to start that process. plunged toian ruble a two-year low after the united states and announced new sanctions on russia to punish the kremlin for the nerve agent attacking the u.k. earlier this year. the sanctions imposed under a 1991 law on the use of chemical weapons in -- limit the import of u.s. technology due to national security, but exempt school operation on the international space station. give us a sense of the reaction of moscow to the new sanctions. >> it has been tough for the russians because they have had warm words from trump about month andelsinki last it team -- seemed things were on the mend. the kremlin has shown no sign of

being willing to come clean and give up its denial of any role in poisoning attacks. for investors, the bottom line is this has put the sanctions issue firmly on their radar screen. we don't know exactly what it will look like, but is likely to get worse the next couple of months. tesla down by 2% and for the third straight day, the company faces the same question from wall street and now perhaps washington. where is the funding coming from? where is the money, elon? question everyone is focused on is when mr. elon musk said funding secured, was funding secured? >> elon musk and -- are said to have held talks about softbank investing in tesla, including potentially taking the electric carmaker private. >> ultimately, the way it played to was you on doesn't want lose control of the company, so

softbank weren't happy with the way it was going to be split. that was the hurdle they were unopened -- unable to overcome. enormousnk has an piggy bank and likes investing in tech. who is left? other fundst heard connected to it have all and bloomberg has spoken to 35 investment banks. none of them had an inkling of any kind of investment. it makes it highly unlikely there is someone lined up, frankly. >> what may happen next with tesla? >> the latest that happened is the board is going to meet with advisers next week to figure out what they should do next. whenever there is a leveraged buyout plan or an offer to buy a company, the board has to make the interests of shareholders are represented and in this case, there are in april. 's position because they have a very charismatic ceo who happens

to really hate being the ceo of a public company. he doesn't like the scrutiny of the markets and that is why he wants to go private. they have to make sure whatever offer comes in, that being the board, is in the best interest of shareholders and $420 a share is not going to do it. a lot of long holders think this is worth $570 or more. they will have to do better than that. closer to financial meltdown and the lira, falling to a record low. president erdogan failing to stem the route. from anill suffer artificial financial pressure. >> he has billed himself as the protector of his people and what we are seeing now according to him is a financial attack. -- completesuit surprise he can't step down from that role as protector and what you heard in the speech this morning was this is a foreign plot, i am your protector come i will put an end to this.

isht now, i am concerned he considering capital controls for turkey and this would be the final break from the international community. we are seeing the kindness to strangers evaporate and donald trump tweet where he has doubled the rate on tariff of turkey's steel imports. turkey is not one of the major steel in -- exporters but this is not a good sign because the whole reason for the move today on its own was we didn't have progress on the talks with the u.s. yesterday and today, investors saw tariffs news. >> when you look at what is happening with the banks in europe right now, the stoxx 600 banking index down 2%. this is something that goes beyond turkey and to some of the biggest banks in the world and potentially, you have to worry if it could get outside of europe. still ahead, as we reviewed week on "bloomberg best ," elon musk have may have talked to softbank, we talked

with the coo. plus, comments on trade from larry summers, blunt reaction to jamie dimon's forecast for treasury yield and ahead of the chinese hedge fund says don't run from mainland equities. next, earnings, earnings, and more earnings including results from optimistic european banks. >> we can see growth also on the customer side and growth on the loan side. michael: "bloomberg best -- this is bloomberg. ♪

michael: this is "bloomberg best ." i am michael mckee. corporate earnings reports were a focus of investor attention this week. our roundup begins with results from a global banking behemoth. produceis struggling to any significant revenue growth

from its long-term bet on asian markets. costs increased 7%. even so, the finance director told bloomberg first and second quarter results were in line with expectations. >> we showed good revenue growth through the first two quarters of the year and that is translating to a good reporting profit progress. continue to invest in the growth of the business and are sitting at a strong balance sheets are right now, it is feeling reason lately confident in -- reasonably confidence in -- confident and where we stand. the pace of winning new customers slowed and softbank warned operating costs would be higher than planned. where wee seen growth have reached our year-end target of 386 billion at half year so that is where you see the growth and that is where the strategy wants to see the growth. that is paying off well.

have acorporate bank, we competitive environment and growth on the customer side and on the loan side, which is fine but monitor rising -- monetizing this growth will take longer than anticipated because we have slightly reduced our revenue expectation for corporate clients. numbers second-quarter net profit of 688 million euros. operating income came in at 4.6%, above estimates. amro'sll abm and ros -- next be? is the jobs number a stop -- cut number a starter? >> we announced a change at our corporate bank this morning. we have a strong client franchise in our corporate bank in the netherlands, but also in a number of sectors globally. the oil and gas actor,

commodities, and shipping. we are looking to do three things in the corporate bank. reduce the capital we deployed to that business, cut costs we areng some staff, and looking to transform the business model to ensure that business is well-placed to succeed. prudential has reported first-half operating profit that beat estimates. the number came in at 2.4 billion pounds, sending shares higher. the asian part of the business is doing particular well. what did you get right? >> the pivot to protection, the demand in asia for medical care, the out-of-pocket expense you have seen many times on the show, $.40 on every dollar versus nine cents in the u.k. or 11 or 12 in the u.s.. profitsur new business are driven from that focus.

that has been tremendous and over 90% of that is regular premium, meaning those clients stay year after year and 90% of existing client renewed. very healthy climate relations on 250 million clients across a dozen markets. the wealth business is doing well. it is all doing what we hope for it to do right now. >> the standard life aberdeen cash, -- 6rhaging billion pounds in the first half, the latest sign investors remain nervous about market volatility and economic uncertainty. is 80%encouraging thing of those flows are in what we the asset set of driven success in both companies in the past. it is a well diversified inflow picture we have, but market

conditions are tough out there for the industry and we certainly feel we are in one of the best positions with one of the strongest balance sheets in the world to weather a tough period ahead. profit atuarter softbank climbing 49% from the year earlier, fueled by a big best -- boost from a fund. rising significantly after the earnings report. what drove the gains? few years,past softbank earning has been a tug-of-war between losses on one hand and profits of the message telecom operations. the last quarter has been a change in formula. 49% profit gain due mostly to valuation increases at vision fund. there was a one-time gain from the sale of the china subsidiary 255he arm company, but billion of it came from increased valuation from wework.

beyond moving -- moving beyond just becoming a simple carrier and investors are getting a taste of what that will look like. third-quarterrted earnings that missed estimates as canceled films weighed on profits. bob iger gave an upbeat view on the future, however, as it espn streaming service has attracted more subscribers than forecast. the company also commented on plans for acquisitions of fox assets. what did we learn from bob iger and the disney results yesterday? >> we learned that they are very optimistic about the acquisition of fox assets. the number is a slight miss, so disney does need to be adding content, building out, streaming service but we didn't win -- learn too much about what happened with sky, the final acid in play in the bidding war that has emerged between it and

comcast. a mixed bag. matt: 21st century fox is laying out plans for a new fox as it waltillion deal with disney nears completion. this came after earnings and sales topped analyst estimates. fox news did quite well. >> indeed, the real standout takeaway here is how well the cable network programming division did. 60% of fox revenues, but more importantly, the center of profitability. you mentioned fox news, but also the fox business channel, fox sports. theseg picture is that business channels are actually highly profitable. obviously, if you have the sports channel, you have to buy content so the real picture is around the new fox assets that will remain with fox and not be transferred to disney. recordcore has posted profit and cut debt to below

targets for the world's biggest commodity trader failed to increase its interim dividend and expand an existing buyback. the question is what do they do with the money? do they buy something, reinvest, or give it back to shareholders? it is a balancing act. they are already paying out 1.4 billion dollars as part of a share buyback and dividend policy. but remember, the earnings are great but a portion of these earnings and a lot of the earnings growth is coming out of a billionand maybe $heading their way. must be worried about what is heading his way and what the ramifications are. nordisk is the world's biggest maker of diabetes drugs and says the u.s. prices for its products will continue to fall next year, hurt by rebates in the medicare program. how do you see the pricing

situation in the u.s. developing? we had comments from donald that heout drug prices wants to come down. you are already dealing with this issue. do you see it changing for the better or worse going forward? how does it affect your business? us is tos important to go out and promote our new innovations. down for usoming and competitors. i do understand drop pricing is a key issue for the president because there are patients were not getting access to rebates we give but in particular, we have a casework pricing is coming down and that is something we have been talking about for a couple of years now. ♪

michael: welcome back to

"bloomberg best." i am michael mckee. tariff escalation leaves little doubt the u.s. and china are in a trade war, but opinions differ on how the conflict will play out for the participants. one observer thinks it will have negative effect and that is larry summers, former u.s. treasury secretary. >> this is a trade war that will make america poorer because our consumers will pay more for products they buy and our producers will be less competitive because they are going to be paid more for inputs. i don't think china is the savior of globalization. i think china is a developing still in terms of its average income country with average standards of living like those thehe united states during 1930's. the context is very different. there will be competition from more places, but i think in

haven, the principal risks been the self-inflicted wound of brexit. think that new york will have to make a variety of strategic decisions, but should be able to maintain a major role in financial services for a very long time to come. larry summers is on the advisory board of the bloomberg new economy for them be held in tojing from november 6 november 8 2018, analyzing the biggest questions facing the global economy. more on the forum and news pertaining to central themes, go to our new web vertical, /economyg.com/new more on trade and banter on bonds. jamie dimon warns u.s. treasury yields could reach 5%. guests on bloomberg television response to his call. >> i don't think we will get 5%,

though it would be good if we started to gently head there. michael: this is bloomberg. ♪ two, down and back up.

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♪ this is "bloomberg best." j.p. morgan chase chairman and ceo jamie dimon speaks, and investors listen. what he predicted for u.s. treasury yields last weekend made them park their years. ears.ir ♪ >> jamie dimon is getting bearish, warning investors to prepare for yields of about 5%, even as they struggle to push above 3%. speaking in colorado, jamie dimon said this. "i think rates should be 4% today, and you better be prepared to deal of 5% or

higher." >> definitely an optimistic outlook on the u.s. economy. 5% is very high. we haven't seen that level since 2007. it's a really bold call, and i'm sort of wondering what the probability is. he says there's a higher probability than people think, but if the probability is zero or 1%, how likely is this going to happen? ♪ >> food for thought, fodder for discussion. on bloombergts television what they thought of jamie dimon's bold call on rates. ♪ >> although it's possible, i think it's highly unlikely. we would need to see several factors. to be fair, we would need to see several factors to get to even 4%. we'd need to see mature breakout, higher wage inflation in the u.s.. haven't seen it that, although anecdotally it is there.

we would need to see the ecb and the bank of japan really moving ahead on tightening prospects. if we saw all of that, then i think the whole rising u.s. debt picture would come to the fire but right now -- come to the fore. >> all right. along what timeframe and what number are we talking about that is probable? tendency isal higher conviction for the next 12 months, the 10 year close to where it is now. the forward rate market would anticipate a further rise in the 10 year. we see more pressure on the short end of the. we see the federal reserve raising rates for more times before ending their cycle in the middle of next year. on the two-year part of the curve, we would certainly see more upward pressure, more flattening. whether it inverts, largely it depends upon how and what the economic conditions are when the fed communicates. ♪ >> the key thing from his

point of view is where he thinks, given current growth and inflation trend, bond yields ought to have. 5%, yields, if they got to i wouldn't be that troubled. i'm inclined to be slightly hawkish at this stage of the cycle. i prefer bond yields higher than the are. my guess is we will break 3% around the turn of the end of the year, then get near 4% toward the end of 2019. my view is that bond yields, not just in the u.s., often not pricing in enough growth and inflation expectations. if that lasts too long, you will get to a situation where bond yields, which are used to priced other credit insurance products, would simply be too low relative to economic momentum. >> you have some sympathy with him. you think the market is underpricing -- it is not assuming enough inflation, that

rates should be higher? >> i have some sympathy with that view. if you take the u.s. nominal gdp growth at 5% now, roughly speaking, historically, there has been a pretty good correlation between annual nominal gdp growth and 10 year bond yields. 2000's,, in the early before the financial crisis, the fed was talking about the conundrum. it was raising the short and, but the long and was staying. that seems to be happening. i don't think we will get to 5%, though i think it would be good if we started to gently had there. ♪ >> of course, the twists and turns in the u.s.-china trade dispute also sparked lively discussion. while the shanghai composite is down significantly this year, one top-performing hedge fund on the mainland is pursuing opportunities in the rout. a bull case for chinese stocks

in an exclusive interview with tom mackenzie. ♪ >> we are not bearish at this moment. market has mastic deleveraging and the u.s.-china trade dispute. there will be more opportunities because the market discounts too much bad news, the cycle has been so weak that they turn o a blind eye to policy development. there has been a major policy slowdowns inng deleveraging and an extension of fiscal steps. i think they should have quite a policy impact down the road. >> how do investors position in this environment? where are the opportunities?

>> we think the market has priced in too high risk for finance of crashes. overdone.ion has been we are increasing our risk exposure by taking our positions hose long-terms w investors remain unchanged, and become more interactive after a selloff. financials, we like independent power producers, consumer discretionaries. we also like manufacturing for machinery, homemade technology. ♪ >> the japanese telecom and tech firm softbank made plenty of headlines this week, weighing new ventures on the back of the

major profit boost from its burgeoning vision fund. ed hammond caught up with the coo and sprint chairman for an exclusive and timely interview. ♪ themet is the unifying behind softbank's thesis? >> artificial intelligence will be one of the unifying things, if not the most important unifying things. if you look before the pc, then to the internet, then to broadband. we believe the next wave of disruption will be powered by artificial intelligence. >> it makes sense for softbank to be doing this, but if i'm an investor in softbank, what does that do to my holding? the company today will be very different in five years. how do i quantify my investment? >> i think the best way to look at it is look at the track record of softbank. if you look at the track record as an operator, i think we've

done an outstanding job. of the japanese stock has probably been one of the best turnarounds in history of telecom. when you look at what we've done in sprint, bringing it where it is today, it has been remarkable. when you look at the track record and investors, the amount of money softbank has invested and generated is the best in the world. we decided, why don't we put more focus in replicating and putting our money to work in areas we haven't in the past, in then be able to invest in put more tension in investing, helping grow business? >> as an entrepreneur you've been linked to in the last 48 hours, elon musk, how real is he in terms of tesla? >> we never comment in terms of if we have commercial relations are not, that wouldn't be fair to anybody. one thing i can tell you is most entrepreneurs today want to do a

big transaction or who are looking for financial help to expand their business, we will have conversations with them. >> so that kind of company would fit the bill in terms of the areas and potentially the type of founders that softbank would back? >> i mean, i would say that is more in the area in terms of finding entrepreneurs that will disrupt the way we work, the way we live, the way we move, the way transportation gets disrupted. elon musk has been an amazing entrepreneur, one i think a lot of people admire. but we look at him and there are so many credible disruptors today that are leveraging artificial intelligence to change the way every thing gets automated, and that is where we are putting most of our focus. ♪

♪ >> you are watching "bloomberg best." let's continue our global tour of the week's top business stories with an unexpected shakeup in this week that food and beverage giant pepsico. ♪ stepping down as ceo of pepsico. you will leave the role in october after a decade at the helm. she will be succeeded by one of her -- >> it looks like an orderly transition is in the making. there will be investor concern about fit of the north american beverages place within his portfolio. this company has relied heavily on internal, organic innovation to drive growth. among other things, it will be her legacy, that she drove innovation as an innovative

company and leader. but to grow faster rates within mature industries, it may require them to put their balance sheet to work, to make more aggressive acquisitions, particularly outside the u.s., where in developing markets you see growth. ♪ >> saudi arabia has suspended diplomatic ties with canada, halting new trade and investment dealings. they are responding to canada's call for the kingdom to release the jailed women's rights activist. how normal is it for the saudis to respond this aggressively? >> it was certainly seen with the crown prince, a very assertive foreign policy. saudi arabia in the past has reacted aggressively to sweden, to germany, but there is no mistake he is firmly the power behind the throne. as we've seen in reaction with qatar, they have no qualms about going in hard, and it's not a

reciprocal response. they had escalated far more than canada. >> saudi arabia, they say they will continue to ratchet up pressure on canada for criticizing the recent arrest of a woman activist. the kingdom's foreign minister says the next wave of retired tree set -- of retaliatory steps will be taken. >> saudi arabia is part of a large islamic organization, and canada must understand that its actions are unacceptable, not just a saudi arabia, but to arab nations in the entire islamic world. >> one interpretation is that this is not just a message to canada, it's a message to the wider western world, don't metal, don't criticize, we have very low tolerance for this. but the speed and intensity of the response was surprising. therector here is that isn't much of a strategic partnership on the economy with saudi arabia and canada, giving

investors something to think about. ♪ >> deadline on downing street. the european union wants a brexit deal by september, but theresa may hopes to stall until november, gambling that the g20 summit will make the eu more ready to accept a deal. >> i think there are two ideas behind theresa may's hope for delaying some kind of a deal. one is that she needs to get an agreement at home. she doesn't have agreement within her own conservative party. she is also very much like not to have this happen around the time of the conservative party conference at the end of september. secondly she's hoping that, the timing will work out in britain's favorite, because the eu will want this off the table at the time when it happens, it's big g20 summit, trump comes in, they will want to show of unity, to say they put brexit behind them. i'm not sure it's going to work out that way, though. ♪ >> china's foreign exchange

holdings are picking up last month in spite of the weakening yuan and the worsening outlook for exports. tell me what is going on with china's fx reserves. >> china's fx holdings rose beyond all economist estimates. that shows that right now, china is not intervening in its foreign exchange market, and it is a signal that china has not weaponize its currency in the trade war's with the u.s. so far. we also had another important development i want to raise your attention to. the pboc told some banks they should avoid herd behavior and chasing yuan momentum moves. this comes after the move last week to make it more expensive to short the currency, and it is clearly a signal to get the markets to stabilize the yuan from plunging. ♪ >> one of america's most powerful companies may be bending to china as well. sources are telling us google is in talks for a cloud tire with

tencent and others, after it reported a story that it is preparing a censored version of its search engine. it's a pretty dramatic reversal. >> it's amazing how much things have changed since they left china. the whole world has somewhat changed, and the powerful companies that are now much more powerful in china is something that has attracted google. shows google wants to get back, or get into the cloud business here in china, and that could be a huge part of their business. ♪ in a bid tostumbles consolidate u.s. broadcasting. tribune media has rejected its merger attempt, and assuming sinclair for $1 billion. was the issue with antitrust regulators? >> it was, but it was less about the regulatory environment and more about mishandling. backwards toover

make this deal possible. the revised an old regulatory loophole on media ownership limits, to allow sinclair to proceed with this deal. then sinclair still had to make divestitures, even with those modifications. the problem was they just did not come up with workable solutions for these divestitures. in some cases they were trying to sell assets to business affiliates, to sell assets to companies with connections to the family. i think the fcc was frustrated and irritated by the steps sinclair took. ♪ >> in beijing, hong kong debut. there has been a bit of movement on these stocks, have since tore, in terms of beijing, the downside quite surprisingly. >> yes. the key is investors are not looking enthused about these listings. beijing felt this morning as much as 4.6% under the ticker

616. is the founder and ceo told us, on the global stage, hurdles remain in giving drugs to market and to the end user in a timely fashion. turning to china tower, it at least has avoided becoming a swamp like xiaomi, now trading pretty flat, hitting a high of 128. it is keeping its market value at 28 billion, a 20% discount from the valuation it was hoping to achieve. ♪ new york has dealt a major blow to uber and other ride-hailing apps, three years after voting down a similar measure the city council approved a one-year industrywide cap on new licenses. to the grants authority limousine commission to set minimum pay standards for drivers. this is something that uber successfully lobbied against several years ago, this time

despite its efforts it didn't happen. how much of a setback is this? of far less ubiquitous uber beat down mayor bill de blasio and scared the government from regulating it, allowing it to continue to grow. well-established, has a large number of drivers, but it is definitely a blow for uber to senate cap rather than to grow and shrink with the amount of demand. it is a major setback. ♪ unveiled itss priciest phone yet in an attempt to rejuvenate sales of its flagship line, starting at $999. the galaxy note 9 enters the smartphone market amid slowing global demand. does this signal samsung is forging ahead with a more aggressive mark smartphone strategy?

they said apple would never be able to sell a $1000 loan and its teams to be all the rage. >> first of all, i think the share price tells the story. it is down a little bit. there is a little disappointment that the note 9 did not represent a more advanced step forward from previous iterations. you are right in that same song is starting to get a little more aggressive. in the wake of the infamous note 7 incident, i think they traveled back a little bit, introducing new features. with a note 9 you are seeing an upgrade to the stylus and other features, and that signals a management shift toward a more aggressive strategy. but i think in many ways the note 9 is sort of playing a holding pattern game before the next big thing. ♪ >> ryanair is grappling with major strikes for the first time in its three decade history.

it matters if you are an investor, because disruption is set to hit a new peak today. we have at least 400 flights lost across five nations, as pilots ramp up a bid to get better contracts from the company. how did we get here? >> this is the unions trying to show that they will have a voice here. about a year ago, there were no unions at ryanair, and now this is what they have to contend with. the thrust of the straight is in germany, about 250 flights canceled today alone. they are expanding, others are expanding, so they need to be careful that this doesn't turn into an issue before people start rebooking. ♪

♪ tv if you wante to look at a stock more in-depth. there's the graphic dashboard. a whole slew of information, including a look at the volume, a look at the analyst notes, buys and sells, and corporate events. >> there are about 30,000 functions on the bloomberg, and

we always enjoy showing you are favorite 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 get important context and fast insight into timely topics. here's a quick take from this week. ♪ ♪ -- but it is complicated. the average age for getting a first smart phone in the u.s. is about 10, and half of all american and british kids have social media by the age of 12. smartphone wielding teenagers and pre-teenagers are glued to their phone, often using social media to share sensitive data about themselves, during what could already be a tough time navigating puberty or adolescent. there are worries that screen time in social media activity can be addictive, and

researchers say it can lead to bullying and depression. a recent survey reported 22% of 8-17-year-olds said they had been bullied online. >> but there is evidence to suggest kids can use their smartphone, if you spend your time sharing positive information on social media. >> that is giles turner. >> find the tech editor for europe at bloomberg. it's like anything. you have a drink with your friend, it's great. if you carry on drinking for 12 hours, it's not so great. is the responsibility of the parents to manage that. many parents want to throw the phone in the rubbish bin. >> and parents are the only ones sounding the alarm bells. pediatric and mental health experts are lobbying facebook to discontinue its messenger kids, a version of the messenger app for children ages 6-12. most platforms do have age restrictions, but the honor system is virtually impossible to enforce. after pleas for major

shareholders to address addiction, apple has recently unveiled a new feature to help people take control of their habit. >> we know this is something that can help families achieve the right balance. >> meanwhile, experts still can't agree as to how serious a threat all this is. >> most of the evidence is relatively new on whether social media is a good thing or bad thing. you have to remember snapchat only came around in 2011. it takes a long time to come to a conclusion. >> social media and screens are here to stay. letting children too young to use technology and social media run amok, or risk isolating them from their peers. ♪ ♪ >> that was just one of the many quick takes you can find on the bloomberg. you can also find them at bloomberg.com, along with all the latest business news and analysis 24 hours a day. that will be all for "bloomberg best" this week. thanks for watching.

i'm michael mckee. this is bloomberg. ♪

♪ emily: this is "bloomberg technology." i am emily chang in san francisco. big tech names are hovering at record highs. can bullish sentiment hold, or will global headwinds change the tide? plus, tesla's wild week. elon musk shocked investors of his plan to take the company private, but we are still missing answers to some key questions. and spaces next frontier. how nasa is laun