>> coming up, the stories that shaped the week and businesses around the world. boston as investors buzzing. >> we have orders at $75 billion worth. >> a lot of investors have a lot of the questions on howard of the order was. >> the eu grants the u.k. more time to cut a deal. >> this is not a long-delayed or short delay. >> trade tensions rise as the u.s. and europe exchange terror threats. threats.iff

down side -- draghi sees downside risks. >> they were not nearly as dovish as the markets anticipated. puts theine lagarde forecast and perspective. >> moving from a synchronized growth to what looks like a slowdown. >> it is straight ahead on bloomberg best. ♪ welcome. this is bloomberg best. your weekly review of the most important business news, analysis and interviews from bloomberg television around the world. let's start with a look at the

top headlines. monday, investors watch as in worlds -- as the world's most profitable company debuted its bond sale. >> saudi aramco has received orders for more than $75 billion in one of the most anticipated deals of the year showing investors hungry for credit. >> we have orders the standing at $75 billion worth. that continues to build. yesterday, aramco selling $10 billion of debt, but now people talking about $15 billion. isnwhile, all that demand starting to feed into pricing and that is where we are seeing some amazing tough. guidancenitial price at 125 basis points. that would be a yield of about 3.74%port 75% versus the

on the saudi sovereign. today, it is likely the aramco bonds are going to come inside, something we very rarely see and capital markets. >> issuing $12 billion of bonds. e have heard all these superb -- superlatives. what is it safe for the demand versus what they came with? it was an incredible amount of demand and you have to ask yourself how this all came to be. clearly from the a lot of demand, but you have these two separate buyer basis. markets the emerging and all the great credit buyers who see it and that is how you get $100 billion in orders.

the u.s. is proposing tariffs includingof goods helicopters, cheese and wine. this is a response to the white thee -- on airbus caused threats totally unjustified and the eu says [indiscernible] $11 billion a pretty hefty number. this will be about aviation, aircraft components, cheese, wine, luxury goods. this is a bombshell by the europeans were not expected -- expecting and the european elections and also from a macro perspective, the european economy has slowed. they don't know what to do. the parliament, a large

majority against negotiations and the pressure. preparing achina joint statement that presents a common front. cometatement did not together easily, but it did come together in the end. also, a pebble -- pivotal moment for china. china looking stronger, having allies. that gives it a leverage point in the u.s. [no audio] gathering seven ceos from the biggest banks for a heating -- a hearing called holding megabanks accountable.

it feels like there might be something else for all of the lawmakers. >> republicans are scratching their heads. they are unsure about the meeting. from the democratic perspective, they are saying this is a long overdue hearing, but the overwhelming theme from jamie the banking system from their perspective is safer and raising concerns about a looming potential for another recession. >> it is safer and sounder in three important areas. >> a lot of discussion about very specific things that washington can do to police the banks and a smart way. very clear from the committee they don't want the banks to get much bigger at a time when they were ready to.

fed released minutes of its march meeting last month. >> you look at the minutes, they were not nearly as dovish as some of the markets had anticipated. they were looking for another clue as to how long the fed would keep rates on hold. no real justification for what they did and why they changed their view, except that they did . the markets still pricing and rate cuts and the members of the fed are open to raising rates to or if theyhave want to. they are putting everything on the idea we have risked and it's a we know what happens with those risks, we are not going to move.

>> britain and the eu have reached a late-night compromise on the delay in brexit. it is now october 31 with a progress review in june, the first theresa may must sell the extension to lawmakers the saying a delay would not be acceptable. >> it was not the date that anybody set out to achieve. it is important to not lose sight in that we do not have a no deal brexit looming tomorrow. it does mean the u.k. could lead for the end of october if they are able to get their act .ogether right now, what looms on the agenda, european elections to if they cannoton pass an agreement. says a long shot, but never never. >> it was one of the most anticipated bond deals of the year. now, they are sinking for a

second day. as $100 as much billion. what does that tell us of the massive books? does that mean the number does not mean much? investors have a lot of questions about how real the order book was. the thinking goes is if you are maybe theren think, was not $100 billion of orders. it does not bode well for some of the underwriters. uber has officially filed for an ipo. the company made their registration public after the market close, getting potential investors a personal and information. it is expected to be the largest ipo this year and among the 10th largest of all time. >> it is a big deal. it feels like a moment we have been waiting for for a long

time. one thing that jumps out of me is how much the ridesharing business still is. the vast majority comes from ridesharing and another thing is how much it is focused on making the case that uber is a conscientious company. >> big banks kicking off earnings season and wells fargo --tially surprised with its first quarter five years. >> the number -- number one thing is the net income. is they let gog

of any kind of guidance related to the asset cap. the last was it is going to be through the end of 2019 and as early as 2020. i think a lot of people think that will be pushed down. >> definitely the big story, that jpmorgan and wells fargo, but it was not a straightforward story. lending,had healthy but wells fargo was not as clean. >> today, s&p 500 up 19 point -- 19 points. still ahead, as we reviewed the week of bloomberg's best, christine explains the imf global growth forecast and the perspective on monetary policy.

plus, bob iger discusses disney's big bet on screening and more of the week's top business headlines. fighting in libya one of the factors looking to push up the price of oil. this is bloomberg. ♪

this is bloomberg best. let's continue our global tour of this week's top business stories. frankfurt, rates caps on change in april meeting. >> mario draghi on the risks. tilted toks remain the downside.

on account of the persistence of uncertainty related to , the threat factors of protection is in emerging markets. boring meeting, boring news conference, the repeat of what ,e've had the last few months leaving the cards open and basically making us understand that he has some ideas. that is about reserves and details. >> benjamin netanyahu set for a fifth term as prime minister in israel. early results indicate the two parties won an equal number of seats, but with his right-wing allies, not know who clearer path for forming a coalition. >> last night was a good night

for prime minister benjamin netanyahu. his party looks like it will end up tied with the top rival, his party actually gain seats compared to its current standing and its right-wing outlets had a good night and most of them across the threshold to enter the next parliament which was a key feeder, so that gives him a clear path to form another government coalition with his religious allies and leaving him fit term --ve a fifth term. >> [no audio] unlikely thirdn term. how much of an up feel battle is it question mark >> it will certainly be a challenge, behind in the polls now. they have been governing minority for quite a while, so the government is in an unusual

position. scott morse and has held off as long as he could. it was either going to be may 11 or may 18. many reasons for voters that they don't understand. there are a lot of problems, but there are narrow paths to .ictory >> they call it the second libyan civil war, as they advance on the capital of for bully, even as the united states urges a political revolution. >> there seems to be intense fighting and at the same time, the government has been moving more from the allied city sports tripoli to try and push back. >> oil extending its rally to a

five-month high as a major producer fight back against rebels advancing on the capital of tripoli. how close are you watching the situation in libya at the moment? >> we are watching north africa very closely. it is a minus supply risk at the moment. we have a spot price for this time. it looks like that will easily be reached. evers. and china seen closer to that trade deal with steven mnuchin saying they pretty much agreed on enforcement procedures. he says they will open up on a isntry to make sure there any final deal. .> we really near a deal here we have been saying enforcement

will b.a.t. test for this deal. the pledge to open offices in the u.s. and china is very firm towards that. the u.s. would give china up until 2025 to live up to some of the commitments and then you have an enforcement office in china and the u.s. to make sure both sides are living up to the deal. that is taking one part of uncertainty off the table. this absolutely moves closer to a deal all stop >> china's foreign currency holdings rose for a fifth month. this painted picture of stability, but can it last? >> obviously, there's a pricing affect on this. they arecture is that on a pretty good streak at the moment and stable. holding up pretty well after a choppy ride last year compared

to a few years ago when china .as having to spend reserves we are nowhere near those conditions at the moment. suggestgures yesterday that the trend remains intact. >> what were the key takeaways from this? >> it is really about food pricing within the consumer prices. if you take out food and energy, you saw that takedown. maybe that is what the central bank will be focused on. came in in line with expectations and you see commodity prices slightly higher. prices, atn consumer least around the edges, reduces though concerns about inflation. that is one thing that will be in focused as well.

>> the world's biggest election is underway. 900 million indians began voting. it will take six weeks to complete. they prime minister faces off against someone from the indian national congress. today, 90 constituents across the state. these elections will take place may 19.lts will be out it involves millions of people around the country. >> at least for republican ,enator's, lisa murkowski saying they would vote against evan tang. another trump take, stephen more

, facing congressional push back. >> appointing people based on their political blue -- political beliefs could be detrimental to the organization , the central bank and their credibility. it could create some instability if you bring somebody political and they just start making decisions based on that. ♪

♪ >> you are watching bloomberg best. this week, the international monetary fund had its outlook desk on its outlook.

it now sees the world economy ending at 3.3%, down from the 3.5% better projected in january all stop the managing director slashed out the forecast in an interview in the spring meeting in washington, d.c. >> moving from what we had assumed would be a synchronized growth a year ago, to what looks like a synchronized slowdown at the moment and to understand and identify what countries can apply to go back to roaring growth, which we are still hoping for in 2020 because we believe there will be a 3.3% global growth and next year we are forecasting for report 6%. >> how much of a concern is it

when [indiscernible] >> they will probably have to do that in a very gradual rate -- way. one countries have to make a net's they should really do it. remain andes should we welcome the fed's recent decision. up, they willcks look at the balance and start dealing with it. . . [no audio] by laws and other countries. it depends. it is going to be price

stability unemployment, price stability only, generally around 2%, but they have to rely on in order they collect to define what is going to be best. it is the sanitized approach that will give them credibility and will help all caves in -- all occasions. coming up on bloomberg best, more compelling conversations. martin gilbert on the saudi nomineeond sale and stephen more and bob iger on the launch of disney's streaming service. emerginglish on markets regardless of how

u.s.-china trade talks go. this is bloomberg. ♪

the biggest week in television is back! xfinity watchathon week. now through april 14, enjoy free access to the best shows and movies from hbo, showtime, epix and more. what! so, you can get more into what you're into. whether it's more laughs, oops. epic escapes, or high-flying thrills, get more into what you're into. just say "watchathon" into your x1 voice remote, or download the xfinity stream app. xfinity watchathon week, free. now through april 14.

>> welcome back to "bloomberg best." i'm abigail doolittle. time to revisit some of the week's top interviews. yet plenty of investor perspective on the bond sale. here is martin gilbert at the bloomberg and best conference in upper darby. >> it looks as if it's gone really well. as an investor, you seen plenty of bond issues. would you say this is something to buy more of in the secondary market on the reading of the data you have? >> i suspect it will be too

pricey in the secondary market. i don't know. if i say to a fund manager to buy something, and he sells it, so -- he will probably by now rather than sell. >> you think you could cheapen up perhaps and the second market. >> i'm not sure. i think the demand is so massive that from what i read, it will go well. moment in a seminal society as a turning point in society story. saga, and you contact on the bond. it's a big reason the market. is it a pivotal moment? yes.n: aramco is a powerful company. the way it has gone must be a real boost to their ambitions for aramco. one of the world's largest asset managers is urging investors to bet on emerging

markets. in another exclusive david hunt told bloomberg why he is doing clients and that direction. -- the steering clients in that direction. david: we look at where long-term growth is and we believe that the emerging markets are where most of that growth will come over the next decade. i spent quite a bit of time in asia. we are investing across the region. we think that most investors are not exposed enough to asia and emerging markets. >> long-term growth, sure, and emerging markets. but we have to get over some high short-term risk with the u.s. and china, with the trade talks. larry kudlow said things are getting closer. we haven't gotten a big break. what you looking for? the --david: the coverage of the china trade talks resembles a

high drama television show. there is an enormous amount to discuss whether we get a deal or not. our view is that we will get a deal, but it won't matter very much. most of the work going on around ofiffs is a very small part the overall economic relationship between the two countries. we think it is highly unlikely that they really come to grips with the issues around technology, the support for state owned enterprises, and about the opening of the markets and cross-border and an day. .hose are the worst -- m&a those the most important issues to get address. we hope they use that momentum to pivot more fundamentally to these tougher long-term issues. the fed's marchman it showed that there is some uncertainty among fomc members about the central banks plan to stand on interest rates and whether the next move should be a hike or cut.

we come up with lyle brainard the imf world cup meeting in washington. >> are we going to give up our 2% rate on inflation? are we going to have a theoretical change to disinflation? are actually focused as the federal on ensuring that inflation stays anchored at 2%. if you look at the way the committee has responded in recent months, with a wait and see, the pause on rates, the very flat path it is projected now in the media and snp projections, that is all a recognition that we are committed to achieving and sustaining that 2% core pce inflation goal. it has been a big concern of mine and it will continue to be. here we are with employment consistently performing very well. yet, raise growth is -- wage

and overallted inflation is not consistently getting around that 2% target. we will be patient. tom: william lee of the milken institute is a guest who has said he is never seen it like this. the polarity of market economists over one rate rise, to rate rises, or one rate cut, to rate cuts. why? why are we having such a polarity of market economists? market opn't speak to inion. i can talk about how i see the outlook. is coming inlook about what i expected over the last few months. we got some reassuring data on the labor market. tables are growing -- payrolls are growing over 180,000 over the past three months. that means we're continuing to see growth about potential. --

above potential. we have downside risk. policy uncertainty has been a big source of downside risk over the last several months. some of those seem to be dissipating. some of them remain. plenty of discussion this week about president trump's nominees for open seats on the fed board. one of those candidates, stephen moore, told daybreak america when he can bring to the job. >> i will bring a new perspective. one of the objectives i will have, one of my missions, is to open up the fed. i'll run on an agenda of transparency. andshouldn't bloomberg c-span and others people to cover everything they do? why does there have to be a couple of sick and see? i want openness -- i want openness. continentalenge one

idea and democrat the fed, vucevic is wrong. i willthat growth -- challenge one idea that is an democrat the fed and i think is wrong. that's that growth causes inflation. the fed is afraid of growth. the independence of the fed. you've not a secret that you support president trump's approach to growth. is it justified to be somewhat concerned that having you there would undermine the church and state distinction between positive alignment any federal reserve? stephen: i'm not at all embarrassed or apologized for what i've done for donald trump. he's had a phenomenal record on the economy. i'm are the people that put this together. i am independent of him. i disagree with the monetary policies. i've been a vocal critic of the steel and auto tariffs. i think it should be much tougher on government spending.

i'm an independent voice. i'm proud of what we've done. i think there's a credential for me. abigail: this week, disney held its investor day and the spotlight was on his highly anticipated suite of new streaming services. chang got more into detail on the company's plans directly from ceo robert iger. making them available robert: making them available at a price that makes sense, with a user-interface that is beatable, that's what we go confident this is a product that people will sign up in droves to have. emily: you have said you will likely bundle hulu, disney plus and when and what will drive that decision? robert: you can figure that we will bundle espn plus and disney plus fairly soon. we don't have an exact date.

we're launching disney plus in november. hulu, we have partners. everything has to be done with them in mind. bundling would be something we might take to the hulu management, but it would require the approval. we think there will be consumers that want all three. eventually we want to make it possible for consumers to buy all three. emily: will you be attending to buy all of hulu? robert: we'll see. we've been in conversations about that possibility. it's early to speculate. emily: you gave up some partnerships. partnerships with netflix as a result of pursuing the streaming service. you mentioned some of your distribution deals. you talk about roku and sony. you didn't mention apple or amazon. why not? robert: the app will in all likelihood be available through traditional app distributors. apple being one of them. i'm fairly certain that if

people want to buy the app, sorry, subscribe to the app, that they will be able to do so through apple in the itunes store. other platforms could be the traditional cable distributors, who also sell apps. ♪

abigail: you're watching "bloomberg best." i'm abigail doolittle. let's continue with one of france's largest banks announcing plans to check its workforce. -- shrink its workforce. wille french bank says it cost $600 -- cut 600 jobs around

the world. the ceo is looking for ways to cut costs. 1200 positions at the banking and investors solutions division says about seven or 50 jobs appearing in france. is there any geographic relevancy to what is jobs are going -- to where these jobs are jobs? -- to where these are going? >> as far as the trading site is concerned, it is a pullback from rates. from prime services. deutsche bank and commerzbank are said to be facing skepticism from members of the ecb in whether a combination puts the banks on a safer footing. what are they concerned about? >> was a concern -- they're concerned about big banks. deutsche bank is the biggest investment bank in europe. combining it with commerzbank,

would create the fourth largest bank by assets in the euro area. they want to make sure they don't get any bigger problems on their hands. always concerned about that case when they would have to wind down a bank. is usually more difficult to wind down. want to make sure it's safe. they want adequate capital buffers. there want to see a good business model before they can say they can list it. the latest attempt to revamp its international business was falling flat with investors who have been dying on the stock from a relative to the global fears. why is number as great -- nomura's great it -- latest cost cutting effort fallen so flat with investors? stock has fallen about 3%. the price but ratio is only about half the value of those assets. the biggest differential with

their peers in 20 years. clearly, investors are not impressed with last week's announcement. the analysts want to look at the pace of the job cuts and the cost cuts. and how it's going to affect revenue. >> the slow down and it was largest car market is showing no signs of easing off yet. auto sales in china continue to decline last month, dropping 12% to just under 1.8 million. we've seen a bottoming out of some of the chinese numbers, may an improvement in some aspects, certainly my comes to this data point, we are seeing things deteriorate. >> the uncertainty in the chinese economy crimping consumer sentiment and especially the other space. the passenger car cessation of china said in the first quarter -- first couple of months this year, car sales were the only consumer product segment that saw declines in sales.

something is going wrong. we have a change in tax policies of import tariffs. that is different car demand. -- has dampened car demand. >> shares are down 3% on demand concerns. amid warns that the company is tampering expansion plans with panasonic. >> i think it's a case where these are two companies who has spent a lot of money on this facility for years. after the performance of the first quarter, you have to take stock of are those investments we plan to continue to plug into this plant, to those make sense? -- do those make sense? we had a serious fall off a demand for the model s and model x the first quarter. the model three did not live up to the performance it had to 2018. you have a case where these companies are taking stock and

taking a breather before they decided to go further with more pinterest is> hoping to raise almost $1.3 billion in its ipo. the company is starting a investors. pitch to this is the maker of online inspiration boards. how much can it monetize that? it's doing well and never ties and so far, but is it really $15-$17 a share? >> expectations have certainly come down over the past couple of years. part of the story here is that pinterest had raised a $12 now it valuation, and looks like it will be a $9 billion company. expectations have fallen. the challenge their alluding to is whether they will be comparable to a social media company. the amount they can get investors to buy. the story they want to tell, versus an unfavorable comparison

to social media company's. that will be a big challenge. amazon may be listening in to u.s. customers talk to your alexa. sources say the company has a team that monitors voice recordings captured in echo owners'homes and offices. why they listening in? >> they need data to make their service better. on a ton of information on how people speak and they feed into this great big system that comes up with answers. somewhere along the way, somebody has to annotate that data. what a person say? was this were correct or incorrect? humans are doing some of that work. u.k. is joining a growing global backlash against technology companies. prime minister may's government is banning social media platforms if they fail to curb illegal activity.

>> a year after the cambridge --lytical scandal wrote, broke, the governments are getting to a point where we are seeing some specific laws that are likely to go into effect, not just in the u.k., but australia as well. new zealand is talking about it. canada as well. it's standardizing an interesting legal position, where these companies would have a statutory responsibility to protect their users, rather than the world they've always operated in, which is that they are a platform. what is it due to one another on our platform is not our problem. >> shares of wynn resorts fall the most -- the most in two months after talks a buying crab resorts for $7 billion. they blamed what it was called. for disclosure upper limiter discussions. -- limiter discussions. -- preliminary discussions.

they needed to get diversity. >> they are 75% in vegas. they would diversify and asian exposure -- in asian exposure. it would also involve them getting involved in japan, which is another attractive gaming market. absurd -- surged after what analysts are calling exceptional performance. they seem to do well on every front. the only real area of concern was the watches and jewelry? you saw that growth was very strong again for another quarter. this is at the same time investors have been very concerned about a slowdown in china. the slowing economic growth in china really hit sales at apple, bmw, and there have been a lot of profit warnings of the last two months. so the fact that luxury fashion is doing well is a positive signal going into the reporting season for the whole industry. it's a giant that on shale.

signaling the future of big oil over the coming decade. walk us through what this means for your development assets? >> we have a couple of entry position with anadarko. miles of continuous acreage that runs across the delaware basin. that's the core of the permian. it will allow us to bring the things we have become very good at, factory drilling and the service infrastructure, downstream integration to a larger portfolio and we saw this command is wealthy advantage. it brings together very nice assets and makes our permanent position even better. ♪

>> i want to show you this. the is a function on bloomberg. i put the u.k. sovereign curve here. you can take a look. years.th out to 50 i put it your today. -- year to date. you can see how the rates have come down, especially on 10 even. >> there% are about 30,000 functions on the bloomberg, and we always enjoy showing you our favorites on bloomberg television. here's another function you will find useful. q uic, go. it will give you fast insight into timely topics. here's a quick take from this week. say you've given up

your law-abiding lifestyle to pursue a life of crime. bigve just made your first store, perhaps from selling drugs, taking a bribe, or other corrupt acts. you can't to spend it in your bank account without attracting attention from authorities. that pesky money trail may serve as evidence of the crime. you need to get that dirty money clean. there are three steps to any money laundering scheme. first up, placement. where funds are move from direct associations of the crime, then layering, or disguising the money trail to foil any authorities, and finally, integration, or the funds are once again available to spend, without worry of being caught. what are your options? one option is forming a shell company. it's very easy and there are plenty of law firms that can help. to tax them inn sex with someone, or other places like the u.s. state of delaware and nevada.

once they are setup, some transactions for goods and services that you paid for with your dirty money. suddenly, that dirty money legitimate. helps to find people in banking who don't care jury should decline. after the fall of the soviet union, launderers found out weak spots where oversight was poor. billions have been funneled through places in cyprus, malta and estonia and latvia. if you prefer to try it -- use the stock market, you can use mirror trading. user money to purchase shares, then you sell them abroad. the traits functionally canceled -- each other out. but you've turned your pupils into clean euros. a same method is the back-to-back deal. inussian takes out a loan one country, say austria, that was guaranteed by a deposit of dirty money in russia. she then the faults of a loan, the bank in austria seizes the deposit in -- but she ends of the proceeds of the loan, note

strings attached. or maybe you'd like to visit casinos. you can mix dirty money in with clean. cashman this is like restaurants and casinos are tracked -- cash businesses like restaurants and casinos are attractive. you can make a few small wagers, then cash everything out as winnings. or, finally, there's smirking. you will -- smurfing. you hire a bunch of associates called smurfs, to individually deposit small chunks of the large hall in different accounts in different places. are required to report any transaction over $10,000, soon you to find a lot of smurfs. there are lots of ways to launder money. unfortunately for you, there are no guarantees that you won't get cap. >> that was just one of the many quick takes you could find in the bloomberg. you can also find them at bloomberg.com, along with all

the latest business news, 24 hours a day. that's all for "bloomberg best," this week. i'm abigail blue -- i'm not a guilty there, this is bloomberg. i'm abigail doolittle, this is bloomberg. ♪ caroline: i'm caroline hyde

in new york. this is "bloomberg technology." coming up, shares of disney rise to the highest levels ever after revealing its streaming service. from the simpsons to star wars, can disney plus deliver on all it is promising? plus, uber's ipo filing could take hundreds of pages of detailed information about the company, which may be valued at $100 billion.