emma: coming up on "bloomberg best," the stories that shaped the week in business and around the world. >> more tariff trauma as the u.s. and china escalate their trade spat. >> we are hearing china will not engage. what we are playing truth or dare between donald trump and china. >> nafta talks resume but there are no breakthroughs. north and south korea hold nuclear negotiations and the boj on stimulus. >> the doj would be looking at whether any criminal fraud laws were broken. >> the brexit summit produces little progress. the ceo of ubs says his bank is planning for the worst. >> you don't know what is going to happen, how can you invest? emma: plus, perspectives on

global trade from leaders in finance and politics. >> everyone is worried about the trade war and should be worried about trade tensions. >> it is more the impact on sentiment. >> the impacts on investor confidence. emma: and the conversations with the new president of zimbabwe. >> we feel the world is opening up. emma: it is all straight ahead on "bloomberg best." hello and welcome. i am emma chandra. this is "bloomberg best," your weekly review of business news and analysis from bloomberg television around the world. the week began on a familiar note with trade tensions rising between china and the u.s., and reports of another round of

tariffs. >> the u.s. trade spat with china heating up. president donald trump threatening to impose tariffs on an additional $200 billion of chinese goods. china, ready to retaliate. >> earlier this morning, president trump tweeted tariffs have put the u.s. in a very strong bargaining position with billions of dollars and jobs flowing into the country and yet, cost increases have been unnoticeable. if countries will not make fair deals with us, there will be tariffs. this is one of several tweets, jonathan, the president has tweeted in recent days. >> what we are hearing from our sources is the chinese absolutely will not agree to have any more talks with the u.s. if these tariffs go forward, at least in the short term. there was invitation extended to china. we heard there was goodwill on the china side to engage in the fifth round of talks since june -- since may, but if these tariffs go forward, we are hearing china will not engage

and again, we will be stuck in the standstill situation with china, expected to retaliate immediately. >> president trump, ratcheting up pressure on china by ordering new 10% tariffs on $200 billion worth of goods and threatening more if beijing retaliates. a pretty fierce statement despite its ending with president trump saying he has respect for president xi. >> right, but he is certainly trying to keep pressure on president xi with these new tariffs. they are 10% now, designed to give u.s. businesses some time to adjust supply chains and the like. they are scheduled to kick up to 25% next year. they have excluded some items from those tariffs, including smart watches, bluetooth devices, children's car seats, and that is designed to ease some of the weight for u.s.

consumers. >> china to levy tariffs effective september 24. i am losing count. where are we? how many goods and what tariffs? >> it looks like we are playing truth or dare between donald trump and the chinese. the president, imposing $250 billion and saying they had $257 billion in reserves. this morning, the chinese said they would go with $60 billion in tariffs upping their total tariff products to pretty much everything the u.s. sends them. about $130 billion. we are at $110 billion right now. this will impact china carried they seem to be willing to put up with it for the time being. best estimates are we could see a cut from their gdp to 1.5% if the president imposes additional tariffs.

>> the offshore yuan has extended gains. this is after beijing said it will never use the currency as a weapon. >> china will never go down a path in stimulating exports by devaluing its currency. >> did china's premier offer any concessions to the u.s. in his speech? >> there were a couple of nods to president trump and the administration in this speech. you had the chinese premier talking about the need to crack down on intellectual property violations, saying they will be dealt with strictly, saying foreign firms in china would face a level playing field and really, the key takeaway, saying the yuan would not be devalued, saying that is being used to boost chinese exports is not true. saying devaluing the currency would be more painful than not.

>> eu leaders are meeting in salzburg ahead of a potential brexit summit in november. but, time is running out to reach a deal. there are issues to be resolved, like the irish border. >> eu leaders are meeting in u.k. prime minister theresa may said she would soon announce a proposal on how to avoid a hard irish border, but gave no details on the plan. >> for sure, we will never accept the deal which will damage the european union and its integrity, for sure. >> what a difference 24 hours can make in politics. theresa may walked into salzburg yesterday hoping to get to the next phase of negotiations, to get a roadmap to a deal but most crucially, to get support from her european counterparts. now it has been the opposite. european leaders have told her, your plan does not work. you have to go back home, rework it, it is not acceptable. european leaders have said we want to see real progress and to do a november summit that would

get us to a deal. >> president trump is said to deny exemptions for the latest round of tariffs on $200 billion of chinese goods. >> we have also, the white house saying it is giving companies time to adjust supply chains away from china. what is the importance of product exclusions for u.s. companies? and, is it something that we are not going to get? >> that seems to be the state of the play for these companies that don't want to be subject to tariffs and certainly not the 25% tariffs due in january. that puts pressure on them to source cheaper supply chain and possibly move manufacturing out of china and the like. the problem is, that is easier said than done. moving supply chain is quite a complicated operation. you need to get staff up and running, facilities off the ground. >> it takes years. >> exactly right, it takes time. most importantly, china offers

scales that many countries do not. on paper, you can say tariffs in china, let's make it somewhere else. that is more problematic than it sounds. that is why these companies want an exemption. >> we've got a stalemate after salzburg. theresa may this morning saying she expects respect and will push ahead with her plan. >> yesterday, donald tusk said our proposals would undermine the single market. he didn't explain how in any detail or make any counterproposals. we are at an impasse. >> she looked really cross. >> she was very annoyed and at the end of her short statement, she turned on her heels and walked out. i thought that was emblematic of how she felt. it has been a humiliating week for theresa may. they went in thinking they would get warm words. this is two weeks before the

conservative party conference, which is going to be difficult for her. she wanted to go in showing strength, and instead the league humiliated her. she woke up to gruesome headlines this morning saying she failed in salzburg and this was her attempt to clawback some of that respect. emma: still ahead on "bloomberg best," reaction to the latest flurry of tariffs from investors and policymakers. plus, liam fox thinks britain will put together a brexit deal and the country's prospects will be just fine. first, more headlines. devastating storms hit the u.s. and asia and the costs are likely to be steep. >> these are not only major inland floods, these are historic inland floods. emma: this is bloomberg. ♪

emma: this is "bloomberg best." i am emma chandra. let's continue our global tour of the business top stories. in japan, the central bank stuck to its stimulus script. >> the bank of japan has left monetary stimulus program unchanged after adjusting its policy settings for the first time in two years in july. the central bank maintained their 10 year bond yield targets and guidance on interest rates by all 51 economists surveyed by bloomberg. the decision leaves the boj further behind its global peers, who are moving to return to precrisis monetary policy. >> you rightly said the boj is behind everyone else normalizing but the reality is the boj is tapering. asset purchases are falling. they are not buying as much, but they have this slightly conflicted policy-setting where

they had the yield curve controls and the yield target and an amount to buy. there is a tension between those two things. there is reluctance from the bank of japan to drop their asset purchase target because they are scared of looking like they are tightening too much. >> the big news this morning out of the two korea's meeting was the second round of talks in pyongyang which ended in the culminating in the military agreement. >> we heard promises from kim jong-un when it came to denuclearization. the question is, will he follow through on his word? >> that is the question at stake. if you look at the joint statement released by moon jae-in's presidential office, it mentions specific nuclear facilities kim jong-un has agreed to dismantle and he has also agreed to invite professionals from related states, nuclear experts, other parts of the military agreement

include withdrawing some of the troops -- guard posts along the border separating the two koreas, as well as the military efforts to excavate war remains in the demilitarized zone. we can see kim jong-un stepping up to really achieve the credibility within the international society. >> saudi arabia is comfortable with brent rising above $80 a barrel, according to people familiar. brent rallied on the news. how significant is the shift on saudi arabia? >> the saudi's aren't necessarily going for a $90 oil, but earlier in the year, we saw tweets from donald trump about crude saying he wasn't happy with the high prices opec had created and now the idea saudi's are creeping above $80 and are content to see it there, it is out of their control. it is an important shift because it suggests that in the short-term, the saudi's aren't

going to step in and curb brent above $80 a barrel. >> oil, high after u.s. refiners eroded domestic stockpile to a new low. it the client by over 2000 barrels last week. what is the push and pull here? >> what you see is based on u.s. stockpile numbers. we saw opec watching the cushing number with extreme attentiveness before they made their decision to curb production output. what you are seeing is refiners stepping in and chasing the margins while they have them, and you are seeing a lot of exports. it is hard to think of the u.s. as a major oil exporter, but you are seeing that. >> brent, up 1%, the second week of gains. that is before the opec meeting in algiers. it is a joint, technical meeting, however, the conversation will be about politics overproduction with

president trump setting the agenda. he tweeted yesterday, we protect the countries of the middle east, they would not be safe without us but they push for higher oil prices. we will remember. the opec monopoly must get oil prices down. how does opec talk about this this weekend? >> the saudi-russian view is that those that can, saudi arabia and russia, plus others, should take production that others can't make to bring the total to where they want it. the iranian position is that no, every country has an individual target, each country can produce to that target. that is where the tension is coming. what i think we will see at this meeting is the saudis and russians arguing that there is still less production and then they have agreed, there is still more to make up, and this will feed through ultimately into an increase in production again from both russia and saudi arabia over the next couple of months. >> the saudi arabia sovereign

wealth fund has signed an agreement to invest more than $1 billion in an electric car startup that could challenge tesla. him we are talking about lucid. why has saudi arabia gotten into a tesla rival when they already got into bed with tesla to an extent? >> they are trying to diversify their portfolio away from oil, which is not the way they had been managing their wealth for the past several decades, but realizing a lot of the political tide turned against them, some of the climate change concerns, so to hedge themselves and try to provide for the future, they are making sure they get invested in some renewable energy, some clean energy options and maybe they don't want all of their eggs in one basket. with tesla, we've reported they are a little annoyed that elon musk really hung his funding secured tweet on informal conversations among them.

maybe they are wanting to hedge their hedge a little. >> hurricane florence tore the carolinas on friday and stayed a while. it dumped about 30 inches of rain, killed at least 17 people in north and south carolina and did more than $18 billion in damage. it is not done yet as some rivers won't crest until wednesday. >> we knew this event would transition into an inland flooding event and that is what has happened. these are historic inland floods. even when the rain stops, the flooding will continue because all that rain has to go somewhere, and all those rivers that are already at maximum capacity, are going to continue to overflow and go into populated areas. this is an evolving process. >> cleanup starts in hong kong and southern china after they

were hit by the world's most powerful storm this year. it left at least four dead, damaged buildings, and forced suspensions in the casino over the weekend. any read on the damages inflicted and how long it will take to repair? >> in terms of material weekend put some numbers on it. the casino closed on saturday, fairly unprecedented for casinos there. they were closed for 33 hours, estimated loss of revenue $186 million and one analyst said it may shave two percentage points off the revenue growth rate for the third quarter. but both macau and hong kong are slowly coming back to normal. the casino is getting back to normal and the airport, clearing a backlog there. there is not a dollar total on the damage, but it is significant. >> norway's central bank has raised interest rates for the first time in seven years by .25. are people ready for it? >> the country is ready for it.

that is the most important answer. we have solid growth in the economy. more people entered the labor market. we have even lower unemployment looking forward, and wage growth is on its way up. also, in light of the international picture, which is also positive in the sense that there is growth and normalization of interest rate in policy, it is time to gradually raise our policy rate, as well. >> the japanese prime minister, shinzo abe, has won his third straight term as the head of the ruling liberal democratic party. the win with almost 70% of the vote takes him a step closer to becoming the country's longest-serving premier. was this the majority expected? we knew basically he was going to win. it is just a question of the margin.

>> it was better than expected and moody is out with a note saying this pretty much offers stability for policy of shinzo abe. it also wipes away any uncertainty about next year's planned value added tax increase, which shinzo abe has pledged to put toward more social welfare projects and he will also push to change the path of this constitution. >> another day, another trade deadline missed. social welfare projects and he u.s.-canadian talks for a post nafta deal has failed to reach an outcome. >> in order for the deal to be signed by the new mexican president comes into office, and they have to get everything published by the end of this month. that means any sort of deal text would have to be agreed to by the three principal parties here fairly soon. the u.s. continues to signal it wants to keep and preserve the ability to use these national security tariffs, if they need to, on auto imports. it remains one of the sticking points between the two sides as they continue negotiations. ♪

emma: you are watching "bloomberg best." i am emma chandra. ubs has selected frankfurt as its post-brexit hub. the bank will have offices in madrid, paris, and milan. sergio ermotti spoke with haslinda amin as the deadline for a brexit deal approaches. >> whatever solution is coming, it may make it a little bit softer is the fact that it is no longer relevant for us.

a few weeks ago, we had to make a decision to execute for a worst-case scenario. the financial system is already operating under the assumption that there is no agreement so whatever is going to happen from now onwards will not make the exercise less expensive, will not make the feeling about the disconnect and resolving those issues not very high. we go back to what we started at the beginning. a complication that undermines the willingness to make investments. if you don't know what is going to happen, how can you start to invest? i would say in the u.k. and in europe, this has been something that has prevented people from taking actions and investing in the future.

>> is it confirmed that frankfurt will be the choice for you? sergio: yes, confirmed. we have an existing operation in frankfurt and have a multilocation strategy where frankfurt will be the base. we are branching out and some people are going to be located in madrid and in paris and milan, also a good chunk will go to frankfurt. haslinda: there is expectation milan, also a good chunk will go out there that a hard brexit could lead to the next banking crisis. what is your take on that? sergio: i think the system is well-prepared. first of all, i do not really believe the next crisis will be a banking crisis.

the banking system is very resilient and you may have some banks here and there like the past, the insurance sector was also part of the problem. i understand that the financial system is more resilient and ready to absorb any shock. i don't believe the brexit can be a trigger for a financial crisis or banking crisis, but it could undermine investments and trigger a slowdown in the economy. that is clear. yes. emma: coming up on "bloomberg best," we cover the week's top company news. the ceo of danske bank stepped down amid scandal and a japanese billionaire may be the first private citizen to travel to the moon. first, more conversations. british trade secretary liam fox thinks the u.k. economy will thrive after brexit. he says the pessimists have all been wrong so far. >> the armageddon predictions that came with the referendum result have not materialized. in fact, the opposite has happened. emma: this is bloomberg. ♪ this isn't just any moving day.

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best. let's return to global trade and the tariffs between the u.s. and china. we discussed the situation with guests throughout the week. theses a sampling of interviews. exclusively with them. there are a lot of unknowns in this environment. how are you making business decisions among these escalations? >> i was in beijing and talked

to a lot of people. i am less concerned about the recent announcement a few hours ago. it's more the impact on sentiment. the second derivative is going to control what we have to track more closely. over 100 cfo have treasurers trying to do it. perhaps we go through this discussion. i don't think this will be resolved in the short term. we need to make sure that we have a roadmap with specific milestones to be achieved. what happens if those milestones are not fit?

what are the consequences? >> what does this do to risk appetite? it is a positive outlook. expect the range of 2.1%. this kind of trade or conflict is raging downside risk. this is worrisome. somepect this will have negative effects on the economy. >> you met with some of your counterparts in beijing yesterday. are you encouraged by their pledges? >> they announced financial

sector. we are encouraged with political signals. discuss these developments and it's important to seize on implementation. >> there is a time of uncertainty been injected into the environment. with respect to the u.s., they up,trying to see prices go can i pass those costs through to the consumer. they can keep their margins high. you could see a squeeze and corporate profitability. i think everyone is worried about the trade war and should be worried about trade tensions. theave not yet seen mathematical effect of the impact on all of this noise. i am more worried about the

effect of what this does to confidence and investment spending and supply chain plans. i think there is a level of uncertainty injected into this. we are strong believers in fair trade. hopefully they can figure something out. trade in europe is an issue on the horizon as they put together a post-brexit framework. confidencepected to a deal will get done. he explained his optimism. seen thek we've movement in recent weeks toward an agreement. i think there are a number of political reasons driving that. you have instability with the italian budget.

we've got some european companies economy crossfire. to dois a strong desire with the brexit issue. there is no guarantee we will get one. the music has certainly improved. >> we have had dire warnings about what would happen if there was no deal. do you think those are overdone? we left theold if , it would cause of such a shock to we would lose 500,000 jobs. the economy would go into recession. we have continued to grow. we added 600,000 jobs to the economy. i understand the nervousness around it. i think we need to be rational

and balanced. the armageddon predictions have not been materializing. in fact, the opposite has happened. >> caroline hyde sit-down with the president of zimbabwe. he hopes to restore investor confidence after the ouster of the longtime leader. >> it became such a situation of isolationism. we want to move away from that. we want to open zimbabwe for business. >> china is a big investor in you. are you concerned about the relationship between the u.s. and china? is very friendly to zimbabwe.

we continue that friendship and i have no problem with that. saying zimbabwe is open to business, not only to china, but the entire international community. we have visitors coming in from across the world. eu had the, the entire community because of the you sanctions on us. america will close out. fortunately, between us and today there is a woman prime minister.

she has sent -- another minister. the same with france. feel the entire world is opening up. officialsn high level and there are signals coming from washington indicative of that. >>

>> you are watching "bloomberg

best," i'm emma chandra. let's resume the roundup of the week's top business stories with the focus on company news, starting with a scandal at a danish bank that claimed the ceo as a casualty. >> the chief executive has stepping down when internal reports showed up to 200 billion euros flowed through its operations at the center of a money laundering scandal. the founder has said he has also considered stepping down. >> the big question is how much of the dirty money was flowing through estonia and the baltic regions. right now they are saying it was $200 billion but how much of that was actually illicit funds. many analysts say it is $8 billion or $9 billion but some are saying the fact that they don't have a figure means they don't know what they are looking at. they have also cut their earnings target and analysts are saying today they have left

investors poorer but not much wiser. >> when it comes to accountability, who knew what and when, when the investigation has been completed we are planning to put out any further recourse but obviously we will report any findings after remaining talks. that will take time. >> and considering taking tesla private at $420, funding secured. those are the words that sent tesla's world into turmoil, and now the company is the subject of a federal criminal probe. the department of justice opened a fraud investigation after the ceo says that fleet which means that tesla is facing inquiries from the doj and ftc. >> the justice department is asking questions at tesla

regarding the tweets and what were behind it. it is quite common for doj to run a parallel investigation to the sec. the doj would look at any criminal fraud laws that might be broken, which would require some type of intent to deceive investors. if anything is found then you get into the next stage of what evidence is there, who knew what and potential fines for the company. >> japanese online clothing billionaire is to be the first private citizen to go around the moon. he has been picked by spacex. he is the head of japan's largest e-commerce company and will make a journey only 24 astronauts have been on. >> i choose to go to the moon. [cheers and applause]

>> it is intended to carry anyone and he is ultimately helping the average citizen to be able to travel to other planets. >> we have this feel-good atmosphere going on. this young, dynamic, japanese billionaire who wants to bring artists along into the art projects for people that can't make the trip. it is a feel-good project for musk to be sure. >> the german government apparently is going behind the idea that we could push deutsche bank into a merger with commerzbank. >> but does the government take this from a national economic the you, and they say german companies need a strong domestic banking market.

that is what they would like to see. they were looking at the european level and they say the european merger is still probably a long way off. it makes sense if we have a banking and fiscal capital market union and so they would ask them, they are favoring at deutsche bank merger. >> it has been a dizzying ride for investors in a marijuana company. the stock nearly doubled only to see all the games go up in smoke less than an hour later. even though it was a volatile day, they managed to gain. >> yes. they managed to gain 40%. you talked about the moment of doubling. 94% was the high, hitting exactly $300. and then 45 minutes later it lost all of that and went negative. then within the last 45 minutes of the u.s. market session it rose again 40% to close $217 75.

-- 75 cents. >> the mp is jumping into hong kong, raising $4.2 billion usd. the chinese food and delivery and neighborhood service giant went public to fund its increasingly costly battle for customers in china it is up against some of the big boys in the shape of alibaba. it lost almost $3 billion last year but they say that core business will soon be profitable. >> the core business is growing superfast and we have new initiatives because we are going to build the largest e-commerce giant. i think we are going to become profitable in a more mature business. business.

>> the drawnout battle for control of sky could he settled by a one-day auction. >> three rounds of bidding on saturday. the lowest offer has to go first, which would be fox. they would be allowed to make a bid, up 14 pounds per share, and then comcast has the opportunity to respond. if there's no clear winner by then, each party would put in their best and it would be over in one day. >> rupert murdoch is the biggest winner. whatever happens in this auction, comcast will bid high and they can sell their stake. if disney comes out with the biggest bid, it's a good place. rupert murdoch is in a good place this weekend. >> sleepless in seattle. two weeks after hitting a $1 trillion market cap, amazon is

revealing its next generation of products and software. spoiler alert, it is all about alexa. she's getting smarter. she is learning new things. >> if you think about amazon, they don't have a smart phone. they are really going after the home where people live, to try to be that platform you. this is a market that is estimated at $100 billion, things like connected thermostats and lights and that sort of thing. amazon wants to be at the center of that. $40 billion of that is in the u.s., and that number will keep growing. amazon is flooding zones with those projects and we have to see what works and what resonates. >> here's one more company story, featuring a startup that has gone from small to big. jesse laflamme went to work on his family's struggling farm and made a critical decision. he decided the business should focus on organic, free range egg production.

long before that sector of the market took off. it is now one of the top egg brands in the u.s.. he spoke with bloomberg about the journey. >> i was in college, trying to figure out what my next step would be. my parents had discouraged me from coming back to the family business. we were small, conventional. egg farmers were very large business competitors. at that time, we had maybe a few hundred thousand dollars in annual sales, we were nearly bankrupt. >> it started to make a conversion to organic. i described it as a hail mary. we used one of the barnes my grandfather had built in the 1950's. we repurposed it into organic production and started to disassemble the old barns.

it was an outdoor space, the scratch areas, roosting, everything that goes into organic. in taking a step back, revenues and business took a step forward. >> much to my surprise, the business has grown far more than i ever could have imagined. 2003-2007, it didn't feel right. it didn't feel right at all, to have that much about that many heads, that many barnes concentrated in one place. the next move was to expand our network, if you will. we found farmers who were just interested in being farmers, not marketers, processors, or ggs.ributors of exi

it was a natural fit. it ended up being these incredibly mutually beneficial relationships. we didn't need to build up our farm anymore, we could do our business without feeling our own farm. and keeping true to the mission. >> we have added anywhere from five families a year to almost 15 family farms a year. we are now up to 125 farms. we are now at most major retailers along the west coast. the future will be full, national expansion into all the retailers that make sense for our product. we see a category growing double digits year after year, even in these economic times. it is organic eggs, free range eggs. if the growth continues, and we think it will, they could take up to a third of the category in dollars. we should grow close to $200 million this year, is what we

are projected to approach. i really see no end in sight, and i'm extremely optimistic about it. ♪

>> take a look at the commodity complex. this is a terrific function you can use in the bloomberg. what we are looking at, three different areas of the commodity complex, energy, metals, agriculture. we see pretty much every commodity here is green with the exception of natural gas. >> there are about 30,000 functions on the bloomberg, and we always enjoy showing you our 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 a fast insight into timely topics. here's a quick take from this week. >> decades in the making, quantum computing is the technology that could make today's fastest supercomputer look like an abacus. teams around the world are racing to build machines using different approaches. while the technology is moving quickly toward reality, it is too soon to tell when it will get there. this is your bloomberg quick take on quantum computing. the computer you are using now processes information in bits that represent two possible states -- 1 or 0. quantum computers use different bits, which can represent one, zero, or both. this is called superposition. they can also exhibits what is called entanglement. these two properties let quantum computers consider multiple possibilities at once, while the normal computer plugs away at one possible answer at a time.

>> if we figure out how to do these kinds of calculations, we can suddenly solve absolutely complex, unfathomably long calculations with a quantum computer that would take a traditional computer, no matter how good or fast it is, thousands of years. >> there's a lot of hype around quantum computers, and researchers are continuing to make incremental advances. evangelists promise machines that can break the most impenetrable coded messages, accurately predict whether, and instantly diagnose and treat disease based on a specific body , but there is still a ways to go. >> it is difficult to make the physical computers, the hardware for these things. a lot of the research is in material science, figuring out the best hardware to use. there are a few different options. you don't just talk about the traditional silica and chips we see in normal computers. >> many manufacturers use tiny loops of semiconductors, combinations of others, or even stranger approaches, like twisting subatomic particles

into a braid. many can only exist under temperatures colder than deep space. a canadian company became the first to solve quantum computers as in 2011, although their usefulness is limited to certain math problems. ibm, google, intel, and others have all bills working quantum computers. microsoft is investing heavily, while china is throwing hundreds of millions into the technology. >> anyone who knows the promise of the technology can't help but get excited, even if it is many years away, even if it never works the way theoretically it could. this is still something people think is worth spending a lot of money on. >> 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 emma chandra. this is bloomberg. ♪

♪ david: you have become the wealthiest man in the world. jeff: it was fine being the second wealthiest person in the world. that actually work fine for me. [laughter] david: what more than books? jeff: i thought we can sell anything this way. what happens when you offer a free, all-you-can-eat buffet? who shows up first? the heavy eaters. david: there are some people to criticize some people that the "washington post" says. jeff: i have no idea what you are talking about. [laughter] >> would you fix your tie, please? david: well, people wouldn't recognize me if my tie was fixed, but ok. just leave it this way. alright. ♪