♪ carol: welcome to "bloomberg businessweek." i am carol massar inside bloomberg headquarters in new york. this week, political troubles on both sides of the atlantic. a formal impeachment inquiry is opened on president trump. >> therefore today, i am announcing the house of representatives moving forward with an official impeachment inquiry. plus, a defiant boris johnson dragged back to parliament to explain why he broke the law. we take a look at what a hard

brexit might look like. president trump's political future among the topics front at center at bloomberg's forum in new york. >> when you added together, i think what it leads to is not a recession, but a slow down growth globally, which is what we are experiencing. carol: more on that ahead. first up, here is editor joel weber on this week's cover story. >> this is one of the hallmarks of "businessweek," these strategy stories that we sometimes do. it is a look at how mcdonald's has been thriving for the past five years or so. share price keeps going up under the ceo. in the past six months, he has really doubled down on tech. carol: that is something that i did not realize. he has made a bunch of acquisitions in ai, voice recognition technologies. >> earlier this month was his latest.

what we are seeing is mcdonald's transitioning from being a fast food company to looking more and more like a tech company. there are cameras at drive-through that can scan your license plate and maybe even remember what you ordered last time, or understand your voice and help translate that to the kitchen. we are seeing a real effort to streamline how mcdonald's can use technology. there is always resistance to that. carol: expensive to do this, right? >> the franchisees have been pushing back. carol: what i love about these stories is you get some inside details. they take us to the old headquarters. it was kind of drab, kind of boring. >> that is in part to try and retain and enlist technology. my favorite part is how the company transitioned to be able to do delivery. it's like, let's do this right now.

carol: we can see the ceo doing this. another great read. this is a company, maybe we take it for granted that it has been around for a long time, but it is a huge company. >> massively global. they feed on any given day 1% of the world's population. mcdonald's actually has a new secret sauce and that's big data. carol: another great cover story. thank you so much, joel weber, editor of the magazine. democrats launch a formal impeachment inquiry of president trump his conversation with the ukrainian president to investigate democratic front-runner joe biden. what a week in terms of news out of washington. a lot of press conferences. we have got hearings, a release

of the transcript of that phone call. where are we in terms of this process? >> well, this has been really amazing. if the mueller report was just a very slow moving drip of information, this has been a deluge. very fast. there is the progress from hearing about this scandal to seeing the transcript of the phone conversation with the ukrainian president, to reading the whistleblower complaint cannot literally be measured in hours compared to how long it took to find out some of the information from the previous investigation. carol: all of this coming out blew all of us away. what is at stake for the democrats? what is at stake for the president? >> i talked to some people involved in the impeachment of nixon and clinton. they both said, you know, at the end of the day, you have to put the politics aside. if the majority of the house believes that the president has

committed an impeachable offense, then they have to do it. i think a big factor is that a lot of the more vulnerable house democrats finally came forward and said, we think this is over the line. especially those who had a background in national security and intelligence. carol: what are we hearing from the white house at this point about it? i think the press conference on wednesday of this past week, big press conference with the u.n. general assembly. president trump has been in town a lot. we all observed a much more subdued president trump. >> his speech to the united nations was -- the text of his speech to the united nations was very militant, but the delivery was very subdued. i think you are seeing some of

the same tactics he has used to push back against the previous scandal, basically arguing that he did nothing wrong, that anyone would do what he did. what we saw was a little bit faster cooperation once the impeachment word was raised with handing over the primary documents, i think the white house had been stalling while in congress for a long time on even sort of routine information that past presidents would have given. once the impeachment word was dropped, they quickly cooperated. carol: thank you so much. appreciate your insight. coming up, what a no deal brexit might look like, plus business leaders weighing in on navigating global instability at bloomberg's global business forum. this is "bloomberg businessweek." ♪ carol: welcome back to

"bloomberg businessweek." i am carol massar. join us for "bloomberg businessweek" everyday on the radio. you can always catch up on our daily show by listening to our podcast. you can also find us online at businessweek.com and on our mobile app. this week, boris johnson cut his visit to the united states short, returning home to face parliament and the never ending brexit story. here is what a hard brexit might look like. >> he tries to set out what that first 24 hours might look like if it is the case we end up in a no deal brexit. this is what boris johnson is promising to do if he cannot get the deal with brussels. he says that u.k. will leave the eu on october 31. what would happen next? we have followed various individuals who would find themselves in fairly dramatic situations if it were to be the case that there was a no deal brexit. for example, we follow a lorry driver making a time critical delivery.

we follow a farmer on the irish border who has to cope with that change in ireland. we follow a musician on tour in europe, so all these individuals who could face meaningful and significant disruption if a no deal brexit were to occur. carol: let's talk about the ports in particular because that's really questionable. how do they operate the port of dover? we are talking about the channel crossing. 10,000 trucks go through the fairies every day at these ports carrying almost 1/6 of all trade and goods to the european union. this is huge. >> exactly. it is probably the most important crunch point for britain when it comes to trade and it is the area where the government is keen to make sure there is not disruption. there is a certain limitation on what the british government can do to keep that traffic flowing. the british can't control what

the french will do. what will the french officials customs do when the trucks start coming over in a no deal brexit scenario. the fear is that the french government will be quite strict in its application of the rules and that will mean trucks end up being pulled over if they don't have the right documentation. they will need new documentation in a no deal brexit scenario because the u.k. will no longer be in the eu. that's the worry and whether disruption could occur. carol: let's talk about that farmer on the irish border. he could be in violation, not in violation, in violation, explain that. >> the irish border is not a straight line. it is a squiggle. you have individuals with farmland on both sides. it may end up crossing the irish border on several occasions. if he has a sheep in northern ireland and wants to move them

100 yards down the road to another field, it would have to cross into the republic of ireland. in a no deal brexit, that would be illegal. that would be smuggling. he would have to go through a customs checkpoint to declare these animals because the rules say if you are moving livestock into the eu from a non-eu country, you must have it checked. it is a question on whether the government would actually enforce those checkpoints. carol: let's go to our bigger, broader take away here. it sounds like initially it is not a doomsday scenario. >> don't necessarily expect significant, visible disruption on the first day of a no deal brexit. i think many of the impacts that have been talked about could occur. if they do occur, they would happen in the days and weeks after. that is mainly because if there

is disruption at the ports and trucks get held up and so on, it would be at least two, three days, a week before the rest of the supply chain feels that affect. if companies have stockpiled goods, they can run those stockpiles down. after that, it would start to go from paying if that disruption continued. carol: president trump using a speech at the united nations this week to reiterate complaints about china's trade practices. president trump: as i have made very clear, i will not accept a bad deal for the american people. carol: the expanding global trade war is already hitting close to home. let's bring in our reporter who follows trade and globalization for us at bloomberg. great to have you here. your story this week in the magazine, i feel like we need to get ready for maybe trade war number three. it is expanding in terms of concerns about trade with europe. >> absolutely. we are getting ready for the next round that will start to unfurl in the coming days as the trump administration starts to rollout new tariffs on the eu.

those are the result in the first wave that we are going to see in a long-running battle between airbus and boeing. we are expecting the wto to authorize the u.s. to levy something like $8 billion in tariffs on the eu. that is going to hit the eu hard, but it is also going to blow back in the u.s.. some states like alabama have pretty close ties with not only the eu and european businesses more broadly, but airbus pretty directly. carol: it is a big deal and certainly you talk about the state of alabama. the biggest one is from the eu, correct? >> absolutely. they are the biggest investor in a number of states, including alabama. down in mobile, there is an airbus plant where they assemble

planes and they will start assembling a220 planes. there is a big mercedes plant in tuscaloosa. they turn out a lot of those new mercedes suv's you see on the street. a lot of those suvs get exported from mobile -- i'm sorry, from alabama to places like china. carol: convening heads of state and government and hundreds of ceos in new york. we spoke with anand mahindra, chairman of mahindra group, and brian moynihan, ceo of bank of america, on the u.s.-china trade war. >> what you have seen over the last 2.5 years is the u.s. and warning them as a leader of the developed world.

on the chinese side, they are trying to figure out how far and how fast they want to get someplace. you know, the two countries got quite close in may, at which point the chinese just withdrew. they had agreed to a variety of things, we thought, then they look at the hole, and they said, my goodness, let's not do this. this is starting again. meanwhile, what has happened in these 2.5 years is that the two countries have started, as a result of false starts and a variety of other tactical stuff, are starting to decouple, which is very dangerous. >> i do wonder, i think increasingly we are expecting this world where it is china and its allies and the united states

and its allies. you are at a very interesting place between china and the united states. how do you see it? >> as a situation of enormous opportunity. carol: wait, you mean the spat you do? >> absolutely. i am just being truthful here. for a long time, it was not kosher for anyone in american policy positions to admit that there was a kind of conflict with china and that india in fact could be one of the players in this game as a buffer against china. that was just a no-no. no one would admit that. i think now it is in the open and president trump has made it more in the open. going to houston made it very clear what kind of alliance he had. i think there is nothing but opportunity for india. we have to play our cards right and see that we are viewed now

as a very appropriate ally for the u.s. as a buffer, both in defense terms, frankly. if you look at the number of defense exercises between the u.s. and india, they are proliferating dramatically. we never used to buy, we used to buy from the russians. this is a democratic country, a country that values i.p.r. a country that values growth. i think india has nothing but a unique opportunity right now. we just have to play those cards right and i think it will be a win-win for the u.s. and india. >> i actually agree. having been with a bunch of ceos, prime ministers this morning, all of them talking about their business expanding in india. i think some of the bureaucracy and things that were difficult

to operate have been dealt with. they can be approved and everybody knows it. i think the broader context here is global trade. if you go back and say the china-u.s. situation will take longer, the question is, what can we resolve in the interim? i'm not sure what happens given the politics and situation this week, the usmca, and things like that, which are critical to get done. as much as india is a beneficiary, mexico and canada is a beneficiary. the weight scale in mexico is actually lower than parts of china. they could use the jobs. there is already integrated manufacturing supply chains. canada is a different situation. i think to keep the u.s. moving forward, there are three or four things to knock out. everybody hopes for china-u.s.,

but there are a couple of things to knock out first, and one of them is the usmca. i don't know if they can politically push it through, even though both sides seem to want to. carol: you can hear more of that conversation on this week's extra podcast. up next, softbank has a problem, wework. plus, lovin' it, meaning i.t. mcdonald's in the days of code. ♪

carol: welcome back to "bloomberg businessweek." i am carol massar. you can also listen to us on the radio, sirius xm china 119 and in new york, am 960 in the bay area, in london on dab digital and on the bloomberg business app. wework's plan to go public hit a fall.

-- plans to go public hit a wall. the ceo has stepped down under pressure from his board. this week's technology section looks at one of wework's biggest investors. we are talking about softbank. we have seen the reduced evaluation of wework. will softbank's founder have to reduce his valuation and bite down this investment? >> that's right. we are hitting the end of the quarter, the end of september. throughout recent months, banks have taken down their estimates of what wework was worth. softbank got in at $47 billion valuation. now, looks like it could be worth $15 billion or less. how does softbank handle that? that's the big question. carol: you pointed out, or the story points out that he is very quick to write up a valuation.

will he be as quick to write it down? >> there is a lot of leeway in how they account for things. he could argue that wework is just as successful as it has always been. just because investors on wall street are debating the value ahead of an i.p.o., they are still bringing in the same amount of revenue as when we got in. if you want to think about, do people have faith in softbank? carol: i think that's the big issue. you think about softbank's vision fund, a credible amount of money investing in technology. uber was one of their main investments. that valuation has gone down. same thing with wework. you do wonder what fate future investors will have if you are not rethinking the valuation. >> consider that these big investments have been driving

the vision fund, they have been driving softbank's profits. it is not the old-school telecommunication businesses. there is a lot riding on his big bets. carol: he does not have to write it down, right? technically, he does not have to. >> that's right. his tone around wework has changed in the last few weeks. softbank was one of the key reasons wework's ceo stepped down. they were pushing for him to step down. carol: i have to wonder, we have talked so much about the vision fund and the influence it is having on the investment community because they can make such big investments. typically in an investment fund, some investments will pay off, some will not. we are really looking at it very different. >> that's right. the other thing that has come out is masayoshi son's leeway for founders to behave in a certain way.

he is starting to send out this message that you going to have to be profitable sooner if you want my money. carol: i feel like this week there is a lot of news going on in general, but i feel like everything surrounding wework, we have really started to rethink i.p.o.'s and start up companies and how we look at them and really accountability. rebecca, thank you so much. also front and center this week, climate change, as heads of state gathered in new york along with some of the world's top corporate leaders at a united nations climate summit. this week's business section looks at how companies are addressing their travel policies due to something called flying shame. it is a real thing. here is this week's business week explainer. >> 90 minutes from stockholm to berlin by plane. when a swedish startup

celebrated them going public, -- 600 staffers took the train. it was not a one-time thing. they banned virtually all employee air travel within europe and discourage longer distance flights. the goal is to become carbon neutral. the swedes, they have a name for it. it means flying shame and they are not alone. companies and nongovernmental associations across europe are taking a hard look at their travel policies. this is sweden-based airline says travel fell 2% in july. sweden's airport operator says domestic flights have carried 9% fewer passengers this year than last. both blame flight training and there is not much airlines can do to push back. for jets, the carbon dioxide output per passenger mile is at least 4 times that of trains. european airlines have the most to lose. they fly a lot of short flights. and across the continent high-speed rail is a viable , alternative.

carol: mcdonald's has a new secret sauce. and burgers to beer. we hear from the ab invbev ceo. this is "bloomberg businessweek." ♪ here, it all starts with a simple...

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carol: welcome back to bloomberg business week. carol: blackstone jonathan gray and where he's employing capital. and also brexit, all that to come from bloomberg business forum. we begin with our "cover tory."

big macs trying to keep up with big tech. >> in 1948, mcdonald's had its first big technological breakthrough. it offered a simple menu of hamburgers and soft drinks all produced easily and cheaply on a assembly line and helped spark the $600 billion modern food industry and one of the most iconic brands of all time. in 2013, earnings began to stagnate as diners deserted the golden arches for new burger upstarts. two years later, steve easter brook came on as c.e.o. to bush mcdonald's for the next big test leap. so far his plan seems to be working. at some locations, orders placed on the mcdonald's app are automatically prepared the moment a customer comes within 300 feet of the store. over in the drive through lane, the company is testing technology to scan the license plate and suggest food based on previous orders or shape the menu based on the day's weather.

from touch screen kiosks inside the stores, diners can customize their burgers in thousands of different vareants. mcdonald's is adopting the approach of amazon, facebook and google by using technology to personalize the consumer experience. powered by this data, it's not crazy to expect the mcdonald's will some day know you'll want a big mac without onions, large fries and a oreo mcflury even before you do. carol: we covered mcdonald's, now to the reporter behind the story, thomas buckley in london to look whether big data is the secret sauce. thomas: steve easter brook who made technology the focus of the tenure of economy was traveling in spain and realized burger king was offering delivery to the spanish markets and on the night when spanish football teams or soccer teams were competing in the local league, mcdonald's is losing a lot of customers on account of that.

>> let's talk about what mcdonald's has done to be more digital. >> the culture calling itself a tech technology company is a bit of a throwaway line as everybody in this industry is trying to do it. in mcdonald's case it's something very tangible they're pursuing. for example, they acquired in march dynamic yield, a new york based artificial intelligence stock up and was the largest deal in decades. and the purpose of that really served to suit easter brook's vision which is to eventually have cars license plates scanned to record previous purchases at the drive-throughs. it's going to suggest items based on similar purchases and similar locations and the weather and all sorts of other variables that really allow mcdonald's to process a lot of data and gauge what's best at any given time. carol: they're also redesigning stores as well, right?

they're kind of rethinking their physical outlets. >> absolutely. this is an fishtive that easter brook had been shepherding before he became c.e.o. in march of 2015 and called experience of the future and requiring the franchisees who own and operate over 90% of mcdonald store globally to completely imagine the function of the store and the services it offers. now, the cost of remodeling those is between $160,000 and $750,000. so the more comprehensive remodels. so naturally the owners and operators are having to fork out quite a bit of cash to see these through and are protesting the vision somewhat. carol: mcdonald's doesn't really have a choice, right? because in the face of increasing competition there's lots of burger joints out there and there's also trends, food trends specifically, that are changing in terms of plant based alternatives. people are interested in that and mcdonald's, they're huge, no doubt about it.

but they were seeing their growth slow down and market share maybe also pulling back. thomas: absolutely right. it's one of those classic examples of a deeply, deeply iconic american brand that was really fueled by baby boomer loyalty for a very long time and rested on its laurels somewhat and undeniably lost its way with the customer and i think easter brook had been probably on the sidelines for a lot of his career at mcdonald's and he spent 17 years in the business and thought this is how we ought to change things for the better. he was head of u.k. and head of europe and observing all of these different trends towards organics and healthier fare and thought maybe we can bring some of that innovation to mcdonald's, not necessarily on the health side but perhaps more on the technology side. carol: i'm here with kayley lines with more on whether easter brook's strategy is working and want to see the

results. >> the results are pretty good when you look at the key metrics and that is same store sales. this is looking the mcdonald's same store sales compared with the second largest restauranter which are the blue bars. if you take it back to 2014 mcdonald's sales were not doing so well. easter brook took the helm in march of 2015 and since then the trend has reversed and sales are accelerating and the pace of growth has been slowed a bit but it has been growth especially in the most recent quarter in which same store sales through 6.5% which was the best since 2012. on this chart they have been outpacing their competitors and would suggest he does have the secret sauce. carol: quite a big turn around. kayley leinz. from burgers to beer we go and to bloomberg's business forum where we caught up with carlos breto. him >> in general because year a global business, we see a good

environment for our business, you know. it's not without challenges but that's always the case. so we'll see what we read sometimes in papers. the thing is our production is very much localized. a lot of the things about restrictions about trade and blow of goods doesn't really necessary affect us, always affects us a little bit but 95% of what we produce are sourced locally and brew locally and sell locally but it's a bit different. we're brewers and always paying attention to what's happening to our consumer. we're not an economy so i don't have an opinion on some of these trade conversations but if it's good for our consumers, we're happy. >> let's talk about asia. you pulled off an i.p.o. there and after one false start you gutted out the second biggest i.p.o. outside of uber and only behind uber this year. what does it tell you about that market and what does it tell us about the strategy going forward? carlos: our business in asia is

the number one business with the number one brewer in asia overall. in china we're number three in volume but number one in profitability by a wide margin and that's because the premium brands that sell command a premium in higher margins. the idea of the i.p.o. has been to establish and create the local champion that could be as equal as far as consolidation and other things it could do in southeast asia mainly. and that's done now and in the process, shares start trading next monday and yeah, we're very happy to be where we are. >> is that a playbook you might use in other places around the world, say, in africa maybe, the sort of model you set out in asia or is this a different sort of thing? carlos: that's a very much mirror in what we had in latin america for many years in which we had a local champion, inbev controlled by us. and it was an amazing vehicle

through stock and get to deal with local families in different countries and really expand within the region. we think that same magic could happen now in asia. >> when you think about part of the reason to do this deal was to pay down some debt, how far along are you in that process and what are some other moves you might consider to keep on that track? carlos: the main reason for the i.p.o. was to create the local champion because as we said from day one, we don't need that to get to our target of being below four times by the end of next year, 2020 but felt we needed a local champion there to mirror what we had in latin america. but of course the proceeds we're getting, it will be used of course to pay down debt as with the proceeds that will come from the australian sale, around $11 billion. >> got it. you think of the cannabis market, you and i have been talking about it for a couple nears now.

tell me how that is testing out and you have a relationship with tilray? carlos: we have a joint venture in canada and for canada only because that's where it is legal. at this point we're only doing r&d and not commercializing anything and haven't made a decision to commercialize anything and trying to solve issues in terms of nonalcoholic beverages infused mainly with c.b.d. we're studying but haven't made a decision yet to go with commercialization. carol: still ahead, john gray on his three threes to measure growth and the $5 billion oak tree deal. this is bloomberg business week.

carol: welcome back to "bloomberg business week." i'm carol masser. join us every day on the radio

starting 2:00 p.m. wall street time and catch up on our daily show by listening to the podcast at sound cloud and at bloomberg.com. you also can find us online at businessweek.com and on our mobile app. we return to bloomberg's global business forum and here's jason with jonathan gray on navigating economic uncertainty. >> you have friction from the china trade and the brexit situation and you just have some geopolitical concerns that are making everybody nervous. businesses are responding by pulling back a bit and you see that in manufacturing and industrial data and capital investment and beginning to see that from earnings from companies. that's one side of the equation. on the other side of the equation, the consumer is actually doing pretty well around the world, particularly here in the u.s. i was talking to a friend this morning about what i think of the three threes, which are we have 3.7% unemployment, wages are growing north of 3% and

home prices are growing north of 3%. so if you think about the consumer, they have a job, wages are going up and the biggest assets are appreciating in value and why you see the by fur education. when you add it together, what it leads to is not a recession but slowdown in growth globally which is what we're experiencing. >> how much does it slow down and when, are we in that now? jonathan: i think we're in that now. it's hard to say. central banks decided they're going to lower rates and continue to stimulate which helped soften the blow of it and it's possible some of these issues like china trade or brexit get resolved which would take a little bit of this uncertainty away. i think as investors, though, you don't want to get too caught up in the heat of the moment and try to take a longer term view. >> where are you spending money? i know your investors are asking you that every time they're going on the phone. where are you deploying capital, you have $5 billion in

assets. jonathan: this point in the economy you have slow growth and high multiples. the low rate of interest rates created expanded multiples and you have to be cautious where you invest. with a we're looking at are places where technology is creating a lot of change and where they're really in the path of growth, industry is in the path of growth. globally and logistics, we talked about it before, we'ven the big buyer of warehouses around the world and probably bought $70 billion on the simple premise goods are moving from physical retail to online retail and doing things around content creation as a result of the cost of distribution, of media coming down. we want to service that industry. software as a solution, things migrating to the cloud. we bought a big business that things in the human resource area online. india, another area that's benefiting from i.t. services. so i think as the global economy transforms, even though the overall growth rate isn't that high, trying to find those industries and sectors that

have the wind at their back is really important. >> are you a net buyer or seller at this point across all of your empire? jonathan: i'd say it's a bit of both. i wouldn't say there's one clear path. i think when we find businesses that have stabilized and sort of are buy it, fix it, sell it approach, we exit. but there are plenty of things we have conviction in and hold. you're seeing us sell but at the same time deploy a lot of capital. we put out $56 billion of capital in the last 12 months and still finding interest in things and would say it's more selective and tends to be in larger situations. carol: david also caught up with jim flaut at bloomberg g.p.s. to tack about a sometime f instability. jim: politically many companies are up in the air in extreme politics in some places but on the ground in business, actually, it's pretty constructive. most countries in the world are doing ok and as value

investors, we look for places where you can put money for a long term, you can make decent returns in the fullness of time and instability sometimes brings opportunity and you have to think long term. >> let's talk about the opportunities because maybe smfer the uncertainty drives valuations down because valuations have been pretty high it feels like the past couple years. are you seeing that yet? bruce: not in the developed markets, valuations are still high. so our focus is special ituations in those places. europe is being driven by interest rates that are really low today. india has a situation where it needs capital and there's opportunity and china we're seeing more opportunities because of a deleveraging going on in the country and that's a positive and creates opportunity. >> you mentioned china, u.s. china trade obviously top of

mind continues to be, how does it play at all into your investments or thesis about the world? bruce: our business is about buying real things, real assets. we buy pipelines, toll roads, realize, renewable power plants and local investments in many countries. we're in 35 countries in the world but a local investor in every single country. trade doesn't really affect. on the margins it does and affects a company's economy and affects investments and currencies and affects your investment as a global investor. we're an on the ground investor so trade isn't as important to us. >> let's talk about one specific local national situation that's brexit. we had boris johnson leave here early, leave new york early in the general assembly to get back and we'll be hearing from him later on today. you're a big landowner and a big landlord, i should say there in london.

and you have a big project there. you have a lot invested there. how does that play through? bruce: we do. usiness has been good. every day it's extended deals get made and that's not helpful in business. but in the fullness of time getting it resolved will be a good thing for london and it will be a center of commerce for a long time and we need a solution to it, that's all. >> you're about to combine officially, close the deal with oak tree, that combination, what should we expect in the near term in terms of the opportunities that presents. bruce: we announced closing on monday and happy to employ with the team and we will help them in any way we can and think it's a added benefit to our institutional client to offer their products. and in the world we're in where

low rates are pushing money into alternatives, i think our general private equity, real estate infrastructure franchise will benefit and now we have a credit offering to add to that. carol: up next, pursuits and how surfing is flashier than ever in the land of the rising sun. this is bloomberg business week.

carol: welcome back to "bloomberg business week." i'm carol masser. listen to us on xm channel 119 and in new york and 101.61 in boston and in london on aba digital and the bloomberg business app. we turn now to this week's pursuits opener. here's the editor on japan's surfing sensational. >> our profile is on the sixth

ranked surfer in the world and he grew up in huntington beach, california, but he will actually be surfing for japan in the 2020 olympics which is the first time surfing is an olympic sport and he's a phenomenon in japan and has launched that sport to popularity that is only really rivaled in the united states and even on a per capita basis it sounds like there are more surfers in japan than the united states. >> there's about two million surfers in japan and about 126 million people there and percentagewise more than the united states. surfing in japan has been big a long time. the waves there are very reliable and there's great remote beaches. but he's transcended the fame of surfing. like he's famous for anybody. he's movie star famous there. >> it's so much fun you detail in the article a typical day for him and he's signing autographs and doing press conferences. tell us about all the things he's involved in. >> he wakes up in the morning and he's in california.

he's serving with kelly slater and doing photo shoots and then he flies to tokyo and doing another photo shoot all within 24 hours and signing autographs. it never ends. and he has a phone of energy as a young guy. he thrives on the fame. some athletes don't like that but this is his thing. >> he likes it. >> this is a guy who is literally bred to achieve what he has achieved. this is amazing story and similar to richard williams and his daughter. >> like serena. his parents were kind of hippies and living in california and they decided their thing was that their kids would be incredible surfers, boy or girl. and when he was 5 years old was out on the water by 5:45 in the morning to surf a couple hours and be in school for 7:20 for second grade. >> amazing. his parents left tokyo and went to california. >> they were in california when

they had him and he's going back to surf for japan. a little bit of a home-field advantage because the beach where they're doing the competition for the olympics is actually a beach where his dad grew up surfing so he has sort of the insider advantage there. >> maybe if he does really well and wins the olympics and goes to endorsements he can buy the next car by ferrari and is really cool according to hannah elliot. >> continuing to have the best job of all it times. she went to italy and tested out the ferrari which replaces a 488 g.f.c. which was the big sports car you'd see and say that's a hot ferrari and has the same twin turbo v-8 engine and is redesigned and lighter and faster and she had a great time spinning around. her review is it's an incredible car and most beautiful ferrari they made in a decade and the critics agree. >> she goes a level down to

just the way it sound and makes these comparisons to almost a musical note that it strikes. >> yeah. if you've ever been in a car like that or driven it, it can sound like a ripping noise and can be not beautiful though it's a very powerful sound and said the sound of this car is actually truly beautiful. >> a great book review as well. new book by bob iger, not really a tell all because bob iger is not that kind of guy but there's some pretty amazing details in here about his career not just running disney for the past 15 years but how he got there and candidly what he endured. >> the book is called "the ride of a lifetime, lessons learned as 15 years as a c.e.o. of a walt disney company" which sounds like -- [snoring] it is a wild ride and has details of following michael eisner and what happened with ovitz when he came in and how brief that was and what was that like to watch and even when he was competing for the

role for himself how he was treated. >> by a headhunter. that story, don't give it away. >> you've got to read it. basically humiliated by a headhunter and not like he hasn't been at disney. it wasn't like he wasn't somebody. >> he's not an unknown commodity. >> and then dealing with rupert murdoch and how the fox deal came down and all the drama behind that. there's a lot of juice in there and it's fun. >> it comes at a time we feel like some really well known folks in the financial community and those in the business community are out there writing books about their time. >> he's not done. part of the deal with fox is he has to stick around. they're launching a streaming service and after all the stuff he's accomplished with pixar and all that, this streaming service may be the period at the end of the sentence and if that doesn't work, that's his legacy. carol: bloomberg available on newsstands and our mobile app and check doubt our business

week podcast available at sound cloud and at bloomberg.com. more highlights there. more bloomberg television starts now.

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