♪ >> coming up on "bloomberg best shaped the week in business ," the stories that shaped the week in business around the world. after theresa may fight. >> this is a decisive step which enables us to move on. >> we do have effectively a civil war in -- >> it is hard to see how she will get her deals were probably meant the numbers just aren't there. >> a slew of companies released earnings and analyst deals. alibaba's singles' day set a new sales record. crude's lunch has everyone talking about oil. >> the market looked firm in

2019. >> it is seen as a kind of capitulation on the part of financial investors. >> we need to cut production to adjust -- to keep the market balanced -- if we need to cut production to give the market ballast, we will do it. >> the fundamentals seem to be fine, but sentiment is getting to a danger zone. >> we want to make sure if the world sneezes, new zealand doesn't catch a cold. >> it is all straight ahead on ."loomberg best ♪ >> hello and welcome, i'm kailey leinz, this is "bloomberg best." your weekly review of bloomberg's news and analysis and top interviews. let's start with the top headlines. on monday, signals from saudi

arabia gave investors hope that point would snap its losing streak. >> oil is higher this morning as saudi arabia said it would reduce crude sales in december. speculation has risen that opec and its allies will cut output next year. >> saudi arabia is back in the swing factor, ready to reduce probably by 500,000 at least to be redistributed amongst the rest. >> yes, it stops the route and the bear market. clearly we are still in a bear market. but it is not exactly the bump they were hoping for. really what we were hoping for, they have one month until the meeting indiana, one month to grab control and convinced the market that they are serious. >> when president trump tweeted "hopefully, saudi arabia and opec will not be cut in oil production, prices should be much lower place on supply. it seems that the market is listening to trump.

>> i think the market is overreacting to all kinds of things. i would not expect the tweeps would have this material best tweetseps -- that the would have an effect. >> what did you take is the biggest move. >> pretty astonishing today. esau the financials, some of the materials companies, taking a hit. are their fundamental factors were some of these companies are selling off? or technology the financials, or is there is indiscriminate selling that we saw back in early october? >> the overwhelming big story, the trade issue. soaring from pessimism to optimism. >> yes, they are talking again. steven mnuchin and chinese vice mayor, reportedly began their ongoing discussions, via yesterday.

i can tell you that here in washington dc, the sources are saying that the administration would like to continue their conversation with china, but there are willing to pull out provided that things don't go their way, particularly ahead of argentina. that said, china having an optimistic tone. >> we are setting up for an important meeting in buenos aires, but this is still a white house that is divided on where china.n it is still not clear that china is ready to give the big structural concessions that this white house has been pushing for. >> crude oil showing little sign decline.ring from the devotee i plunged 7% yesterday, its biggest one-day drop in three years. this comes as opec warned demand for crude is falling faster than expected. and remaining saudi arabia and other members are signaling output cuts. it?here a way to stop >> i think the speed and skill of it is being driven by money coming out of this market. if you look at open interest, a measure of how many contracts

are outstanding and features, it has been falling off a cliff, and i think it has accelerated the speed and its scale. but it is hard to see it from the point of view of opec, what do you do in a scenario where it feels like they have lost control of the narrative? but at the same time, you have the white house seriously --ching at them, saying seriously twitty let them every tendency the city are about to cut production. >> the cabinet approval of the brexit deal is a prologue to a much harder slog through probably meant. >> at least two of the present years have decided to back may -- of the brexiteers have decided to back may. but as he say, the real challenge is going to be in parliament. theresa may addressed mps today. there were a lot of people saying that this is a sellout,

that this is not what the people voted for. the it is handing over sovereignty, not taking 70 back. it is hard to see how she will get it through. >> the choices before us more difficult particularly in relation to the northern ireland backstop. that theonclusion was government should agree to their withdrawal agreement and the political declaration. it is a decisive step which and it was us to move on and finally finalize the deal in the days ahead. >> theresa may is fighting for his political life, despite getting her cabinets backing yesterday. there is growing revolt in her party veterans to derail her brexit plans. >> business has more certainty now and it will be able to plan. it is effectively the deal they wanted, they best they could have hoped for. but it is a deal that will leave everyone unhappy. unhappy.al public is

clearly, the labour party is unhappy and they have, saying that they will not support the deal. it will be a tough sell for theresa may. >> the brexit secretary hasn't resigned in a blow to prime minister may. he tweeted he could not in good conscience support the terms proposed for the deal with the eu. he is one of the key ministers for theresa may. how to >> this resignation? >> quite awkward, to say that you cannot support the treaty that you just negotiated yourself. we always knew that she was really up against it in parliament there we had the same thing seems to be having with extractors, where they sit in the room is say, we will go along with it, then they come out and get beaten up letter friends and the start resigning. >> we do have a tory civil war now, and the european research group, the brexiteers, need enough they letters to trigger a leadership

conference for that to be a reality. >> the next few days, it is really hard to see how she will get her brexit deal through parliament. with every minister who resigns, one fewer conservative is going to vote with her. she has been counting on all these people do what with her. >> i will do my job of getting the best deal through britain. i will do my job of getting the deal which is in the national interest. when the vote comes before the house of commons, the mps will have to look at that deal and consider the vote of the british people to leave the eu and our duty to deliver on that vote. and of course, they will be held to account by their constituents. ♪ the united states and china beginning discussions, that is the agenda for the meeting between the u.s. president and president, at the g20 meeting in one of cyrus.

commerce secretary wilbur ross says achieving a deal by january is "impossible." >> what level of expectation is wilbur ross setting here? >> the framework of agreement, much down from making a deal, but overall, not that bad. if they get to that point, it will be the most progress they have had in months. the u.s. has repeated that is threat of tariffs, and the chinese have not given an inch on the bigger u.s. demands. >> secretary ross doubling down, he has emerged as someone who is now at the forefront of the u.s.-china talks. thebottom line is that for president of china to have a good scenario commerce secretary ross and peter navarro, that is read things stand heading into when osiris. ♪ to resume mays taking control of brexit talks, she is said to

be speaking to local tory party leaders, she has done so on friday -- >> it is a poke in the eye of the brexiteers come other person she has named as secretary is not a heavyweight, there are three or four high-profile brexiteers in the government that she could have chosen. but those figures are probably wobbling a bit and was a medley, she did not want to name them in the case they decided to create. she said, -- presumably, she didn't want to name them in case they decided to quit. at the same time, she has promoted amber rod, a very high-profile remainder, and a loyal ally. so the balance of power in cabinet has shifted a bit in the favor of the eu. >> still ahead as we

review the week, more discussion with expert insight on what can break crude fall. and, more on the week started business headlines. politicians put pressure on goldman sachs for its role on 1mdb. >> not only do they want the fees back, but they want compensation for goldman running their image. this is bloomberg. ♪

♪ >> this is "bloomberg best," i am kailey leinz. let's review the week's top business stories in europe. and italian leaders and eu officials locked in a clash of wills over the italian budget. >> there are calling the bluff of the eu enforcers. whethery have to decide

there will be fines. how serious is the eu about levying fines on italy. it appears italy would be happy to accept in order to pay fines at this point. >> i don't think the eu is eager to levy fines on italy. they want to work things out, have more discussions. they want to bring italy within the eu rules, or at least a lot closer to them. i think any fines would be the endpoint, and at the point of reference going into all this. ♪ china's industrial production and business investment again, slow,interest rates were policymakers thing with the slowest growth in a decade. chinese questioners have been increasingly tightening their belts, as he entered uncertainty -- with the uncertainty of the trade war.

>> this was broadly positive. as you say, if there was a flight in the ointment, it was the retail sales number. around 6%, and fixed asset investment also came in above the surveys of the economist we heard. officials here think there was a tick up in private investment and infrastructure, and in the sector.ent of also saying that overall, investment in infrastructure remains at a pretty low level. in terms of the trade war impact, they said it was pretty minimal at this stage, saying that they have other tools at their disposal to transfer the economy going forward -- to support the economy going forward. ♪ japan's third-quarter gdp numbers came in worse than expected. economy shrank by a annualized 1.2% over the previous three months. economists had expected 1% contraction.

natural disasters weighed on domestic demand and slowing growth pressured exports. >> the gdp contracting, well below the boj considers as its growth potential. lift onis be a inflation pressures or could the tight labor market offset that? >> the most positive thing we think has happened is them prime minister abe and saying, we will take in 500,000 new workers. is that the beginning? the first step in -- we will replace the declining population, increase the tax base? remember, they have 164 jobs for everyone hundred applicants. if we can start to improve that part of the equation, we get back on our inflationary track. that said, these numbers are disturbing in the short-term. ♪ 's reputationchs could be facing its biggest crises of the decade, as the malaysian probe into 1mdb gathers pace.

the nation is stepping up pressure against the investment banking giant. the prime minister calling for more aggressive claims against the bank. to bring us up-to-date on the investigation, what does malaysia actually want? minister, atrime least he is expected to be, he says that they want more claims. not only did he want the fees they paid goldman sachs, they want compensation for the ringing of malaysia's image. he is saying that when goldman sachs the 1mdb bonds, they were sold at higher interest rates than they would have paid otherwise. he also wants compensation from other consequential losses, which he does not elaborate on. all these things are really raising the pressure on goldman. ♪ >> softbank has announced the ipo of its mobile cash cow

unit. it would make it japan's biggest public offering in history. highly anticipated, but time of is o the essence for this deal as well. >> softbank is sharing 1.6 million shares at ¥1500 apiece, about 33% stake in their domestic telecoms business, including japan's third-largest wireless carrier, broadband network as well as fixed line services. that would net them about $21 billion. it is a little less than what we were expecting. it has been reported that the sale might be as big as ¥3 trillion. we were all preparing templates for the world's biggest ipo ever, but we will settle for japan's biggest for now. 90% of the shares will be sold domestically in japan, and our sources tell a that in fact, most of it will be sold to retail investors, not institutional investors. ♪

>> alibaba rang up almost 31 billion dollars in sales at the annual singles' day instrument anza, setting a record -- extravaganza, setting a record. all this coming after 10 years of this event. and the still pulled off another record. what were the key takeaways? >> absolutely, another record, 27% increase from last year. they racked up sales of about 21.2 billion in 2017, and 30 billion last night. they say that about 500 million consumers took part in this event.r they say that in terms of the big-ticket brands, the top sellers, probably -- apple omines, show me phones --xia phones, were above the top five products on sales areas the top three nations included japan,

south korea and the u.s. as well, interestingly. ♪ >> amazon has officially confirmed it is opening two new headquarters, one in long island, one in arlington, virginia. and nashville will become the so-called operations center of xls with more than 5000 new jobs. >> we will have shareholders meetings in these headquarters, board of directors meetings, our employee meetings in new york and canada d.c. area, just like we have them now in seattle. >> splitting it up a makes sense, simply because of the sheer size. it used to be that if you wanted a huge campus, you want to the suburbs. but today, young tech workers, tech workers in general don't want to be in the suburbs. they want to be in a dense, diversified, culturally attractive city. therefore, the employers have no choice but to try to establish themselves in this beak cities

-- an in these big cities. thene supplier leading losses for all suppliers, falling amid fresh friends of increasingly-weak demand for our funds. apple shares plunged as well. what do you make of this momentum announcement, that one of their key suppliers -- one of their key areas of growth, their key clients is saying, look, orders?tting down our >> one thing to keep in mind is that apple's strategy with the iphone now hinges on driving up price, not unit shipments. my thought when i saw the news was, boy, this really reflects that emphasis that they have. the iphone xs, both of them are , andexpensive than the x, the xr is more expensive than howiphone 8, and it shows

apple is making up for the volume shortfall. ♪ >> we turn to chipmakers. the sector has seen another bout of selling in asia, wiping $8.4 billion in market volume after week forecast from nvidia added to the latest signal that demand for servers, personal computers and mobile is falling. to sum up what we've heard off overnight? >> then big issue with nvidia is that too much inventory in the supply chain,, and they really need to wait until that is digested, before they start shipping out more chips. they came out and basically admitted that the whole chip huck, ands on any bad news could through the market in either direction. ♪

♪ >> you're watching "bloomberg leinz.'m kailey it has been another week of the mixed signals from china. investors continue to assess the impact on an extended -- impact an extended trade war could have a markets and a global economy. bloomberg's and rishaad salamat talked to the asia-pacific chairman and ceo on what he sees on the current trade landscape. actually come if you look at trade as a whole, trade is at record levels. it is not like trade has gone down. but, the danger about this is that the impact it on expectations and sentiment. you are seeing a bit about. the fundamentals seem fine, but sentiment is getting to a gendered zone. rishaad: it takes time also for the actuality to had people as well. looking at the landscape, how do

you prepare for it and what are you looking for for the particular focus? >> it is a combination of things that we are looking at very closely, which is rates rising the u.s.. it would have impact on the outflows.arkets, some combined with the geopolitical situation in iran, china and the u.s.. i would not only center it on trade, i think it is a broader geopolitical issue between the u.s. and china and how it is moving around. there is some noise coming out of europe, whether it is brexit, italy widening its spreads -- you see the combination of those three things any know you have to keep an eye on that. then you overlay that was the fact that it has been 10 years without having any significant recession in the u.s. or around the world, you start thinking, ok, i better prepare for all scenarios. rishaad: are you seeing signs of a looming global slowdown taking

place? >> we are not? >>. if you think about 2019, it is hard to think where it will come from. initialrd to see any signs that there may be something brewing out there. but if i had to guess, an area that we have to was carefully is the fact that insulation, if it keeps creeping a little bit, it may limit the tools or the policies that government can use to combat a slowdown in the economy. rishaad: so they would have enough medical -- essentially -- .olitical tools, essentially? exactly limiting the tools they have to fight it. >> coming up, earning reports from tencent, and big deals in software and oil. plus, more compelling conversations. not beade deal will finalized this year, but the prime minister says it is worth taking the time to get it right. >> we are not balancing pace

with quality. >> this is bloomberg. ♪

♪ >> welcome back to "bloomberg best." the collapse of oil prices was a central topic of discussion throughout the week on bloomberg television. let's revisit some of the conversation, starting with manus cranny's interview with bob dudley. ♪ will we get $70? it at $65planning long-term, but the market confirms, even though projections of global growth and 1.5nd are below the threshold, i think global economic growth will change a

little bit. the markets should be firm in 2019, venezuela production, video production, out of the permian basin in the u.s. >> is shale the biggest threat in 2019? shale isctory of really quite stupendous. is that the biggest threat to global demand? >> well, i think in the long term it will be supply and demand and opec said they would like to keep the price -- i think that's a fair way and good for producers and consumers. the permian has been quite something but it will respond quite quickly until things are moved around. it will be increased production for several years. ♪ >> i think that what was

that they were geared into a much tighter market and once the results came out on exports it is a process of readjustment and the price we saw of $86 is a geopolitical spike in prices came down and now they are lower -- we are also seeing a capitulation on the part of financial investors, and they are all fleeing the market. that's what you are seeing when you look at $65 right now. >> with the growth of the united power,as an oil where do you see oil prices ranging? at the moment, we have quite a bit of volatility in the price action. where do you see it? >> well, i think it's really going to depend on the growth numbers in the world.

a lot of u.s. production -- and this is now just a factor that areuilt in -- the impacts we putal as the study out today, trading places, which is having an impact on everything, including u.s. trade balance. the merchandise trade balance would have been another $250 million more in deficit had it not been for this growth we are seeing in u.s. oil asked boards. i think the global market having to adjust -- it is russia, saudi arabia, and the united states. the u.s. is on track to be the biggest oil producer in the world. that's a big change in the market. ♪ past,have had cuts in the and we need it to cut production to keep the market balance.

we are not going to overdo it. we are always going to keep that balance and the reference will be the five-year average, where we will work very hard for a year and a half. question --to the i'm expecting that they will go to a responsible producer, taking measures to keep the market in balance. >> so minister, december is still a way off, but your best guess as to how much needs to be cut? >> there are things outside our control, which add to speculation that the market fundamentals are still reasonable. my expectation is that in the growth will

reach consensus to adjust the market. ♪ opec lowering its demand next year for the fourth straight month. where does demand plan to sell off? >> i think it played a bigger role than people give it credit for. focusing i have been on is gasoline demand, particularly in the u.s. what we have seen for the past couple years is that gasoline demand had a revival,, prices came down the economy was going strong. what we are seeing this year is that with prices back up, demand has flattened out, negative in quite a lot of the country apart from places like texas, and i think you are starting to see that worldwide. the iea report showed that gasoline demand worldwide is barely growing, which is kind of striking when you consider that the prices are not back to the levels we had.

>> when you have oil drop as much as it does, what does it do to producers here in the u.s.? how much will a decent device production? >> well it's going to defensive eyes some, but what we created back in the 80's was a futures market and many of these companies are hedged, they are protected and can keep going for another year or so with prices around 50. especially since costs have come down. i think we will see productions but i don't think we will see rapid reduction at all. ♪ >> this week, bloomberg television spoke with a pair of prime minister's, australia's scott morrison's and new zealand's december ardor. we asked about the politically sensitive decision to block a foreign bid for an australian gas pipeline. ♪ i want to get own idea of where the lay of the land is

when it comes to the chinese link company and high profile knock backs. in buildingattempts out the network -- is it getting to a point where if you are a chinese connected company you will not have a good chance of getting approval? >> not at all. you have highlighted some exceptions, but the normal state of affairs is that there are many approvals dozens of times over. tied to the concentration and liquidation of the owner, it wasn't about the nationality. australia will always make decisions in our national interest, but we will always be the most liberalized foreign regime in part of the world. can invest in australia more than australia can invest in the rest of the region.

i wouldn't describe the rearrangement as reciprocal but we have a very liberal arrangement. we went through a very disciplined crisis, and there were no surprises in those decisions, and i think it's an important mark of how we continue to engage with china. we have our rules, we explain our rules, and we welcome investment, and it's no less than what china would expect or what singapore would expect or indonesia or malaysia or any other part of the region. no question that australia's foreign investment arrangements are the most liberal. ♪ about -- this has been stalled. countries like china and singapore wanted to push it through by the end of the year but that's not to be until the end of next year. 2019 and looking into

we have roughly seven chapters that are looking good. but i think there is bit more and weation to be had need to balance pace with quality. and we do want to see these additional benefits and that is why we will keep pushing with what's already been negotiated. but it is a significant given theand i think benefits that could be derived -- >> is there concern that it is being driven by china? >> no, that's not a concern from our perspective. our concern is making sure that we don't sacrifice quality for pace, particularly given the lengthy gestation. >> prime minister, what are your

views on the u.s.-china trade? is it getting better or worse? what are the indications you are getting in your conversations with the rest of the global leaders? >> at least from a domestic perspective, i don't think it is having an effect in the sense mightnvestor confidence be somewhat affected by seeing what's happening as a result of the trade conversations going on , that it could be having an impact on global growth. we want to make sure that if the world sneezes, new zealand doesn't catch a cold. but there's also something to be said for the architecture. we see no benefit for trade wars, so we will keep pushing hard around, abiding by the trade rules and agreements and norms that we signed up to. ♪ ♪

♪ >> this is "bloomberg best." let's resume our roundup of the week's top business stories with a focus on company news. chinese internet giant tencent was among the companies releasing quarterly earnings reports. ♪ tencent beat third-quarter earnings expectations, largely thanks to a one-time gain from theinvestors, but clampdown slowed it. this by from time, but there is anyuggestion that they have kind of longer-term answer to a pretty big existential crisis coming from chinese regulators. >> that's right. we have seen early analyst reactions and i think most people are a bit disappointed that tencent could not offer thisvisibility with

stalled chinese approval process. that is right now one of the biggest overhangs in the stock. i think it was a legitimate heat on the bottom line for the third quarter, but if this game approval process isn't clarified quickly, it may be short-lived. ♪ >> walmart planned to sail smoothly into the holiday season, but instead found choppy waters today. is falling despite posting strong third-quarter sales, a signal it can hold its own against amazon. >> expectations are really high for walmart. they are one of those retailers who has been doing quite well, along with home depot macy's,. but that means their stock has been trading around 22 times earnings compared to 17 times historically. it's an expensive stock. people are looking for things to poke holes in it, and gross

margin was down a little bit today, and overall it was a solid report but shares are down as much as six months. ♪ >> revenue is improving across the business, prompting the world's largest container shipping company to raise the lower end of its forecast for profit. how is it that you are able to raise your profit forecast and revenue in a world increasingly beset by trade restrictions? >> well, we have seen a quarter where fright waits have gone up more than 5%, so that's a positive driver. but we are also seeing good appropriation particularly in lodges sticks. now the global trade is anding at a reasonable pace

container freights are going up. ♪ world oldest pharmaceutical business has raised its sales outlook for the year and reported a profit that beat analyst estimates, even as it warned exchange rates continue to weigh on profits. how exposed are you to troubles in the fourth quarter? could this be what's rattling investors today? >> we have seen by a large from reliefond half of 2018 in the foreign exchange way that in a important currencies have improved compared to the euro, compared to what we have seen in the first half. we have somehand, trouble with the depreciation of the american currencies, especially the brazilian rail and argentinian peso, which hit the broad online pretty hard --

the bottom line pretty hard. we expect this affect to continue until the end. that is one of the reasons that despite the very strong topline that led to would titans upgrade organic we kept the pre-guidance staple for the year. ♪ by your has reported higher-than-expected earnings in the third quarter. german conglomerate is performing after it's a $63 billion takeover of monsanto. the full impact of the acquisition is difficult to gauge but there science division has had double sales compared to a year ago. >> we are very happy to finally start integration, a good second and third quarter of the company overall, confirmed guidance, and in terms of legal challenges we are very comfortable that in the end the science will prevail.

♪ >> marijuana stocks are all the rage this week, with all the earnings coming out. s, we just got the number significant increase in revenue, a pattern we are starting to see -- revenue and production numbers are growing quickly, this is the corridor leading into legalization which ended september 30. it doesn't include the numbers post legalization but a lot of these companies were beginning to ship to the provinces and some of that is reflected. how your revenue, higher are alson, and what we seeing his lower average selling prices and lower margins of cost. >> it's a very new industry that's evolving. each quarter we start to get more and more information and it

easier for investors to model, but right now there are so many developments, understanding the total addressable market, and what products will be sold in those markets. it's really something we are learning. each quarter we will continue to see it started moving towards that. ♪ >> sap announce yesterday it is buying call tricks for $8 billion in its largest ever deal , valuing it at 20 times revenue. how transformative is this transaction? does this change your company fundamentally? >> this is the jewel in the crown of sap. it does change it fundamentally. if you can marry operational you with experience data, have the holy grail of enterprise application software. move, it's all about gross, it's all about the and ohsynergy of x data data, experience and operational

data, coming together on one platform to fundamentally change the world. ♪ >> after a month-long sometimes contentious campaign to force a sale, athena has given in. willrivate equity firm acquire the company for $135 per share, totaling $5.7 billion. how did this come about? >> it has taken a while to play out, obviously a fairly robust sales process. for the shareholders -- they will be relieved because they .ot the deal done i think it's a slightly lower price that could have been achieved earlier in the process, but they are going to participate and you will see them as a good fit. this is what we could call a quasi-strategic private company. ♪ projector --ergy has won the right for oil fields

in abu dhabi in a deal that could be worth $20 billion over 40 years. >> this is a big one. we feel that we are going to put and it is ation huge deal, it is supposed to -- it's a huge field. >> when will we get to those production levels? >> timescale, i'd say we can talk about 2022, 2023, something like that. ♪

♪ at bayer versus dax, it's aaxo, the disappointing picture. investors over the last five years are losing money with them, and it seems that it is all down to the monsanto acquisition, because it just came off gains in the past six months. >> there are about 30,000 functions on the bloomberg, and we always enjoy showing you are favorites on bloomberg television.maybe they will become your favorite . 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. is a quick take from this week. ♪ making,es in the quantum computing is the technology that can make today's fastest supercomputer look like an abacus. teams around the world are racing to build machines with different approaches, and while the technology is moving quickly, 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 can represent two possible states -- one or zero. quantum computers use quantum bits, which can represent one or zero or both at the same time. this is called superposition. they can also exhibit what's called entanglement, a state in which a change to one changes the state of another. these two properties let quantum computers consider multiple possibilities of one's, while a normal computer plugs away at one possible answer at a time. >> so if we actually figure out how to do these kinds of

calculations, we can suddenly solve absolutely complex and 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 continue to make incremental advances. machinests promised that can break the most impenetrable coded messages more accurately predict weather patterns, and instantly diagnose and treat disease based on the a specific body. but there's a ways to go. >> it is difficult to make these physical computers, the hardware. a lot of this research is in material science, figuring out what's the best hardware to use. there's a few different options. you aren't just talking about the traditional seleka and chips that we see in normal computers. >> many use loops of semiconducting wire, or even stranger approaches, like twisting subatomic particles into a braid.

many can only exist under temperatures colder than deep space. became thecompany first to sell quantum computers in 2011, although their usefulness is limited. intel, and others have all belts working quantum computers. microsoft is investing heavily, while china is throwing hundreds of millions into the technology. >> anyone who knows the promise of technology can get excited about it, even if it is many years away, and even if it never works out 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. this is bloomberg. ♪

♪ emily: i am emily chang in san francisco. this is bloomberg technology. stanford fires back. the facebook ceo defends herself and her company over accusations that she was asleep at the wheel. backlash from employees and even users not letting up. diane greene is out as google cloud's ceo. why one of the female execs is being replaced despite calls for more women at the top. plus, california is under fire.