i am shery ahn. tom: thank you so much.e bring this to your attention, a further contraction in south africa. this is a big mess. news butittle bit of it is an overlay to what we have seen. statistic off of what was estimated by economists. there was something in the air. when it somebody to talk to us about the elephant in the room, that would be germany. carsten brzeski is with ing. october, -- he did crew for academics and harvard. it is like 700 teams on the charles river. you have done this. carsten: it is the best event in the world. tom: every october. wonderful to have you here today. bring up the german cpi number. there is something going on and i do not know what it is. there is a drive lower and to me the word is chronic, there is a chronic disinflation and lower rates. why? carsten: because of globalization. increase% nominal wage and we have too much competition coming from other countries. talkedseph stiglitz about the discontent of globalization. maybe there was a 2006 globalization. what is the globalizatio

here shery ahn.ressure on bernie sanders to exit the race for the democratic presidential nomination. according to the associated press hillary clinton has enough nomination, win the including those she has one in commitment from superdelegates. polls show she is in a tight race in california with bernie sanders. she is depending on superdelegates that do not vote until july 25. a car bombing in turkey has killed at least 11 people and wanted dozens. said --s and eston ball in istanbul said the bomb targeted a police vehicle. meanwhile, turkey is once again threatening to suspend the refugee deal with the european union. the warning comes from the turkish foreign minister who says if the eu does not make good on its promise to let turks visit europe without a passport, they will block refugees. judges at the european union's top court have rolled on a case that could spread the fight over whether the u.k. leaves the eu. one of the biggest issues in the brexit campaign is how the eu deals with those s

i am shery ahn.eekingation brands is a valuation of roughly $771 million for the initial public offering of its canadian wine business later this year. constellation is working with goldman sachs t on the offering. the company is expected to list in toronto as early as this fall. resorts international rebranding -- renovating the property to create two hotels. one will be called the park mgm 00 rooms. house 27 the other will be known as the nomad las vegas. match theer aiming to convenience of services offered by amazon and other e-commerce companies. that is your bloomberg business flash update. did the market overreact to this morning's lackluster jobs report? decline -- one-day jeff rosenberg shared his perspective on bloomberg earlier today. can we just talked for a second on the reaction -- i characterize it as an overreaction. there's a lot of factors here. it certainly big report, but we and saytake a step back we expect payroll growth to grow. this is a weak report, but let's not go over

scarlet: let's head over to shery ahn who has the latest. some ahn: there was caution before.appy friday. we are seeing a global stocks retreating. this is from the biggest two-day decline in a month. and theseeing the dow nasdaq falling across the board. this is the second day of retreats. getting itstors ready. we have the fed meeting next week. 7 -- brexit vote. at one point tumbled to the lowest since june 2012. it's going to lose basis points. people a little bit cautious ahead of the weekend. we see oil lower. it is down. 2% right more than now. dollars alow the two barrel level. for the rest of the week, it is up. aboute to mention it's up 90% since february. we are seen gold unchanged at the moment. that is a safe haven now. outave a lot of caution there. alyx: intel is making some news. shery ahn: that was a big win for intel. the stock is getting a boost. that is the highest since april. we hear from sources that the next iphone will be using modems from intel instead of others. qualcomm is taking a hit. 1.8% today.n alyx: mark crumpton has more from the newsroom. ma

shery ahn has the latest.aking a look at natural resource stocks. they have let the rebound in europe and it is carrying over to the u.s.. that comes on signs that china may be willing to build more of their base metal stockpiles. they are the largest consumer of these metals and they could be trying to seek a supply and demand allen's. alcoa risinging almost 3%, that is after falling for four consecutive days. take a look at nucor, they are also up. we also have learned that the basal industries, we are talking about chemical companies here, up 1.5%. westlake chemical is also up 1.5%. and we are hearing they were upgraded to a buy from a neutral by suntrust because they think the company markets those products at an opportune time. also, take a look at agrochemical stocks. let's start with monsanto. they are up. we are seeing the ubs group saying that i dream has reiterated a buy rating there with a $102 price target. ubs is calling a bottom for fertilizer markets. mark: thank you. right, 3:18 in london. in n

amanda: here is shery ahn with first word news. ahn: more information from the panama papers. there were at least 2400 us-based clients over the past decades and they set up 2800 companies on their behalf. that's according to the art times with reports companies were established in the virgin and otherd panama places that specialized in hiding wealth. the islamic state militants of been firing at civilians as they try to flee the violence in falluja. haveber of those civilians an killed as they attempted to cross the euphrates river. 50,000 civilians remain trapped inside a falluja. yesterday, the southern edge of the city was secured by iraqi forces. it's a largely agricultural area. tributes are pouring in for the man known simply as the greatest. homily was a three-time heavyweight champion, but his fame transcended lock seeing and made him a global icon. he died friday night in arizona. he shook upama said the world and the world is better for it. we are all better for it. muhammad ali was 74 years old. global news 24 hours a day 100red i our journalists in bureaus around

i'm shery ahn. >> and i'm betty liu.et back to those disappointing job numbers and what today's report means for policy meeting later this month. what did you think, joe? know, normallyu in these reports, even when they're bad on the headline, something thatnd says, oh, this is still a good trend. this one you really couldn't find anything. the only hope is that -- >> wage growth. that's what we've been say. as expected,in 2.5%. we didn't get an acceleration, came in, in line. i mean, i guess you could make an argument that the employment 4.7% is not bad news. yes, the labor force participation rate declined. 4.7% unemployment would -- >> but doesn't that mean there's going into thele market to look for jobs? >> that's the thing underlying. any goodt wasn't trends. and the labor force participation rate, which i know, the interview is pointing out that looked like it had been going in the right direction. that was one reason why, even though the unemployment rate has flat since last october, people weren't worried, becau

shery ahn has a check on company movers.hery: with treasury yields falling, it's not surprising that we are seeing banks taking a hit. the 10 year note falling to the lowest since january. falling for a now second consecutive day. citigroup falling almost 3%. along with financials come insurers are having a tough day as well. trading at the lowest level in more than a month. prudential at the lowest level 12.e april metlife also falling 2.2%. energy companies also falling for a third session. not surprising to see this longest run of declines for energy cup is given that oil is now trading below $50 a barrel. chesapeake energy seeing the worst day in a month. a plunge of more than 9%. yesterday, we saw ubs cut the stock to a cell. -- a sell. they sought continued weakness in the independent power producer. southwestern energy company its worst day since march. now reversing three weeks of gains. the struggles of being a tech entrepreneur in a developing world. ♪ vonnie: bloomberg businessweek is out with its annual technolog

from the bloomberg news headquarters, i'm shery ahn.ned by bloomberg's paul allen with a look at the markets. good morning. paul: good morning. we will start in new zealand, trading for 30 minutes so far on friday, currently off about 1/5 of 1%. in negativees still territory, but they have been creeping up, and we are expecting gains on the a sx in australia as well. we will be keeping eyes on shares on crown resorts. they had a pop yesterday after they announced they would spin since macau was weighing on the australian assets, but it has been received very poorly by the credits rating agencies. continue tot will have declining cash flow for the results. crown yesterday was up by 12% on the news of that spinoff. taking a look at amc, what -- am z, one of the major banks in australia. the media says we could well see a possible sell down of units bank.mz that is some of what we are watching around the region today. ♪ ♪ cory: at the app developers' conference earlier this week, there is a running focus on the apple watch. the updated ope

i am shery ahn.: thank you so much. time now for the morning must-read, tom keene joins us. looking ahead to the stress of brexit on the global economy. "central bankers are finding their policies gummed up by a potential exit of britain from the european union. immune tomies are not events elsewhere. could join china's slowdown and europe's greek led debt crisis as barriers to a more robust economic recovery." what came out in 1939 was about closed economic systems. we thought we had the answer five or six years ago, but that is wrong that they are a more economic -- open economic system. with negative interest rates further grinding low rates, the south african gdp missed today. a commodity uptick a little bit. there really is no domestic central bank. david: this is almost like the butterfly theory. tom: the butterfly is over in brooklyn this morning, or maybe last night. all the cliches are happening within a truly global economy. david: does this mean that nothing will get done until june 23? to

betty: time for the options inside with shery ahn.: joining me now is lead options strategist with dr. derivatives. great to see you. we are seeing stocks just declining and we have seen this all too often. we get close to a new high and then we pull back. is this the start of another trend of just stocks getting hit? we are probably going to level about here for a while, the yen and yang. we have high stock valuations keeping a lid on a new high on the s&p could the dow and nasdaq are not as close. 24 times on the s&p, 17 times on supercheapasis, vs. interest rates. the fed meeting in june is owing to be a nonevent. not a lot of news to generate to break out one side or the other. x is saying a little worry on the horizon. shery: you talk about the vix and we are heading for another climb. how do you see volatility in the next few weeks. tim: we're certainly elevated and we made new recent highs on the s&p. vix, the measure of fear in the s&p, didn't come close. kind of a nonbelief in the options market. going forward i kind of favor

i am shery ahn. thanks so much. this is what we're watching for the rest of the week.ress the world affairs council in philadelphia starting at 12:30 p.m. eastern. tomorrow, we are following the u.s. primaries held in california, new mexico, south dakota. draghi opensmario up the brussels forum. it will be a busy week. janet will yellen will probably deliver the most important speech of the month. i don't know if she will give us any clues or the clues that markets are looking for. two-year is down to a new low, -0.54%. that's part of the great distortion that's out there. he deals with the distortion and what it means in terms of speculation. he just has to put up with it. he has decades of experience in decades and acquisitions. you can see him in season four of game of thrones. marshall, it's wonderful to have you. the distortion is a mess. how does m&a adapt? marshall: it's not new. of what'stinuation been going on since the financial crisis. it's a new normal. it is not normal. m&a is not like other financial markets. it is illiquid and conviction driven. it's not

here is shery ahn.eople and wounded dozens more. , seven are among the dead. no one has claimed responsibilities. the islamic state has carried out deadly attacks. in thenomy grew faster first quarter than previously estimated. the european union says gdp rose .6% in the first part of 2016, the fastest pace in a year. this is due to more investment and a pickup in consumer spending. is said to have projected european union to shield from sanctions on iran according to people familiar with the matter. europe, russia, and the u.s. have list -- lifted sanctions for prescriptions on dollar-denominated with iran still in place. global news 24 hours a day powered by our 2400 journalists and one and 150 news bureaus around the world. david? david: financials have had quite a past few days. rebounding yesterday, paring most of their losses. the morgan stanley analyst joins me now for today's meeting. start right there. are the banks basically condemned to follow whatever they have to say? arehat is not how we r

even if you look long-term at the numbers. , long-term do better in democracies than to tell a shery ahn states. in the short term, people are not making that connection. carol: you take a look at a test that could determine a better life for kids in china. have the high test, a more important sat. it determines where you're going to university or college. students in rural areas are not as ready for these tests as urban areas. are talking about equalizing it, making it easier for rural kids to go to universities elsewhere. the middle class do not want their chances for their children to be diluted. david: and unbelievable amount of work that goes into prepping for it. one kid is studying more than my child has ever studied in her life. ,he gets up at 6:00, studies she's in class until 11:00 and then she studies another two hours. tuning inchild was now. thed: you look at sears, box retailer who has fallen on tough times. doing much, not talking about selling off its better known brands, like kenmore. this bad --en david: glide path. ellen: right. merged with kmart and they have not spen

shery ahn has your check. shery: the second consecutive week of declines.&p 500 losing 4/10 of 1% before the week. the nasdaq is the worst performer and near a four-week low. we have to take a look at the pound as we head into next week, because of a bad brexit vote, and the pound has been a gauge of sentiment on the referendum. the week has gained 7/10 of 1%. we have the campaign think suspended for seven days. also have an opinion poll on voter sentiment. that has been giving the pound a boost to their. investors have been embracing. vix sort of this week. we saw more than 40% in two days to climbing few sessions. today is a quarterly event. , which means options contracts and futures expired. these are not that uncommon. it is now pairing weekly decline. that adds the weaker dollar giving a reason for investors to be given a week. scarlet: thank you so much. the latest in the markets. for the final few minutes of the trading day, we want to bring him michael regan for much needed perspective. i guess weleague -- can't talk about the markets without menti

losses we saw on friday, generally across the board there, and at the 12:30 hour, that is when shery ahn was speaking. after that, we saw a rebound and we are near session highs up about .6%. the markets are shrugging off any negativity they thought might have been coming from chair yellen. to note we att 2111. the closing record high as 2130. we are within 20 points or so less than one percentage point of hitting that. let's talk about interest rates. as he deals with the tenure and the treasury. you can see similarly a leg down in terms of the yield. we are sort of right now. the yield is 1.72%, up only to pick -- two basis points. happening at what is with the bloomberg dollar spot index. then a flat but you can see a downward trend since 24 hours ago. down here, we can see this when janet yellen was speaking. how about commodities? ramy: it is interesting. i want to show this cool chart. what you are basically seeing here, if you can see it, the white line here is the bloomberg commodities index and everything anyway 20th, it is now in the bull market of 20%. you can imagine the blue

shery ahn is with us. sherry: we are looking at u.s. stocks which have not been doing great.ding for a second weekly decline, the worst performer week.the the s&p headed down for a straight week, down 1%. of coarse, we are seeing concerns over a possible brexit next week, not to mention concerns over what the fed will do going forward. what is leading the losses? technology shares. apple, for example, is now headed for its biggest slide in five weeks, done 1.7%. of course, we had news that china is now saying the latest iphones are violating a design patent from a chinese company. some analysts also thinking that they are going to see fewer shipments of iphones in the next reduce, in order to excess inventory ahead of the iphone 7 launch. we are also looking at linear technology. this company makes electric components for vehicles. cleveland research coming out saying their key market driver, sales driver, which is china, growth there may be moderating. they are down 3%. parentlook at google's company out of it. group --said you to youtube growth may be slowing, which is of c

. >> and i am shery ahn. to bloomberg markets. >> we are taking you from london to new york to aspen colorado in the next half hour. here is what we are watching. aobal stocks rebounding for second day and the dollar weakening on speculation that policymakers will try to prevent brexit from hampering local growth. the ftse has -- fink sit down with larry in the hour. shery: i will be sitting down with sam eisley, cofounder for his current pick in the pharma sector.

i am all over renick with shery ahn and matt miller is with us. let us return to aspen, colorado.hatzker is back with another exclusive interview this time with david rubenstein. take it away. erik: thank you very much. david, good to see you. david: pleasure to be here. erik: i imagine what you did is what every ceo around the world did and way scout -- wake up and ask himself or herself what does this mean for my firm what does this mean for my business, what does this mean for my business? what does it mean for carlisle? david: we are in good shape. we are not worried so much about our portfolio, but on the other hand nobody knows what the long-term consequences of this will be. for the new immediate future, we will be ok. could be worse than it is today. erik: why do you say ok? let's just go with the average. to averagethe average prediction says it will shave half a percentage point off the gdp. it appears to be negative for the european economy. how can that be ok? david: when you have an event like this, you want to make sure your copies have adequate credit lines and othe

from the bloomberg newsroom i'm , shery ahn. bloomberg west is next. ♪ in for am cory johnson emily chang and this is , bloomberg west. coming up, oracle's transition to the cloud is accelerating. we will break down the company's cloud fueled q4. plus, the price of bitcoin has gone up 70% in the last three weeks. we will talk to experts. and the cheapest, smallest satellites in the history of aviation are changing the space and game. first, to our lead. a twist in one of the biggest stories. bloomberg has learned before microsoft bid on linkedin, salesforce made a bid. let's bring in our blooms -- bloomberg news reporter sarah , frier joins us. this is really interesting, and it starts to make sense what microsoft saw in linkedin, because salesforce saw the same thing. reporter: and also the price. people were questioning microsoft paying a premium over their current trading, although lower than what linkedin was trading at six months ago. people were saying there must have been something going on. of course, bloomberg broke on

i am shery ahn. jonathan: coming up, chinese stocks plunged as fixed asset at the slowestw pace since 2000. george osborne joins go. what the fallout could be. more coming up. >> this is bloomberg . china's stocks are down today. they fell over the decision whether to include china a shares in its global index. welcome back simon. good to have you here. why are they down? >> the brakes at issue is weighing on global markets but i think there are issues in china that are specific to china. the numbers that we saw -- stabilization but when we dig deeper, not very encouraging. that industrial production growth only being achieved through the application of heavy government stimulus. if that stimulus was withdrawn, we would see afar worst picture. i think people are realizing china is not going to be an engine for the global economy anytime soon. 6% growth is going to be sufficient to keep these domestic situations stable. however, it really cannot drive global economy down. much of the problem is th

i am shery ahn.han: this week, three central banks deciding on their next monetary policy move -- the fed, boj and bank of england. tom hill, president and ceo of morris,ne and ian senior managing director wrote about this in a recent piece in foreign affairs. looking at the situation this conversations we had last time or how they respond in the event of the next downturn. i just wonder in the next couple of years with or without a downturn, are we going to see something substantial from the fed or boj without a downturn? tom: my experience with central banks is never vote against them. when you think about paul volcker when he became head of the fed, everyone was worried about inflation and then all of a sudden paul took care of inflation and for the next 20 plus years, inflation has not been a problem. i think central banks have a lot of firepower and when you have governor kuroda who was recently at the council on foreign relations in a closed session talking about transmission mechanisms and yes

i am shery ahn and this is bloomberg. jonathan: coming up on the program, defeating the odds.he s&p 500 is on pace to round out the first half of 2016 in the green. we look ahead to the second half with bob doll. that is next on "go." this is bloomberg. ♪ ♪ david: it looks like u.s. stocks may eat out slight gains for the first of the year -- eek out slight gains for the first of the year. welcome back to the program, bob . let's start with the first half. let's look what happened that surprise you and look forward to the second half. what surprised you? the we cannot forget to january a low repeated in february on the back of china and oil prices and concerns about the session and we got the nice rebound and just as we were heading for new highs in the u.s., brexit smacks us in the face and we go down and now we come back up. it is hard to believe with all of that, u.s. equities are up. does the --s have a having disappointed in the first quarter, they will not be great in the second quarter. alix: you take a look at technical levels, we have butted up against the 2100. it se

clearly there was ahn older guy there who did not ask a question they expected or wanted to have asked what he called zionist israel. trump jumped in very quickly, he said very quickly we clearly support israel. melissa: they were so friendly and obviously hand-picked all these people and one comes out of left field that. we have katrina pierson, national spokeswoman for the trump campaign. we're happy to have you on hand right after that. one point during the questioning because caught our attention and we focused here on business and talking about trade on china and getting some questions on that and he said, i want to be clear i don't want to eliminate china. i want them to sell lots and lots of goods. i just don't want them to cheat us. which when his folks come out afterwards to explain his stance on china they say things like that but at moment he sounds like he wants a trade war and a wall. he is moderating what he is saying there. which do you think sells better as spokesperson, the hard-line or that sort kind of moderated reality? >> well i think both actually, because he is b

. >> mean jeanie ahn from yahoo finance. >> it costs about 10 buck, some up to $25 a bottle. >> reporterlish or $100? >> $100. >> it's yours. >> no, it's not? >> yeah. >> i think i made my point. nobody chose the nail polish when they had the $100 right there staring them in the face. some estimate over $15,000 spent on cosmetics in a woman's lifetime. >> i have like brown shays. >> even worse a 2015 study says the average woman owns 40 products at a time but only uses five regularly. let's start with those trial sizes, tempting you as you wait in line. not only are they usually impulse buys but can be seriously marked up. how much more do you think you pay for trial size than regular size. >> double. >> 10%. >> three times as much. >> if you bought a full bottle's worth at this trial size price, this bottle would cost $55. you take this $55. >> oh, my god. >> another common purchase, buying concealer, foundation and sunscreen separately. instead get an all in one. >> bb and cc creams are tinted moisturizer with spf. >> last tip, foundation, don't buy it online unless you're 100% sure of

question, but i would like an answer to all of them, especially what official steps has faa taken to ahn any of the issues that i brought up. >> well, thank you, congresswoman. so our -- the national team that my organization is working with to place into other facilities, you're teams have -- and we've done two rounds of controllers which we can look toe moving. we have two selections that would go into tray-conthat you had mentioned. into the more chaled facilities. >> as far as the retirement eligibili eligibility sometimes it's different. we can estimate when controllers can retired. they're the only organizations, with you know that controllers have to retire by the time they're 56. in some cases, if we have controllers that want to work a bit longer, we can grant waivers to do that. sometimes we do in those critically staffed places, again we're trying to expedite our processes, staying on top of the hires. it's something that i'm submitted to, and i know that my colleagues in the faa and natca as well the what is the percentage of those who request to go beyond retirement? >> i wo

slow zone.alhn you're heaviest through gain gainsville, centrevilleil manassas this morning taking ahnoop jams arena drive toat good luck road. 295 sluggish from 450 to eastere and then 50 inbound 410 to 201 waking up in annapolis or bowieb you'll hit that wall of traffic. in the district new york avenuen backs up at bladensburg heavybuh traffic across the freeway on the eastbound side as you passas the third street tunnel.t tun here's a closer look at that att outer loop delay from our map. also keep in mind bw parkway north and southbound back up inn maryland as you head past powded mill road. roa sluggish traffic 95 southboundon past the icc and 270 really real backed up bite truck scales trua through urbana and then as you u head from gaithersburg into rook rockville. metro is on time except for ourr single tracking between eastenas falls church and ballston.alto we'll have more as we continue. keep it to fox5. ♪ >>> it is home sweet home for one michigan man who spents nearly a decade his life behindd bars for a crime he did not commit. >>> devonne thai sanford wase to just 15 yea

. ♪ i am shery ahn with the bloomberg business flash. -- usage rose at the fastest pace in performanceonthly increase in energy prices in a year. the labor department says the user price index increased 4/10 of 1%. food was up 3/10 of 1%. twitter is investing $17 million in the music streaming business sound cloud. a larger financing round is expect it to amount to $100 million, arguing the company at 700 million dollars. twitter has invested in startups, including developer music and mobile marketing platforms. von gart the world's largest mutual bond manager by offering low-cost investments. now they want to cost -- they want to cut fees even more in the hopes of boosting investor returns at a time when returns are low. is average expense ratio compared to an industry mean of one dollar. that is the bloomberg business flash. minutes until the session here. let's get some movers for you. julie: let's start with para go. one might have thought it would news that itfter was close to being acquired by u.k.-based firm. they poured cold water on this this morning. saying that there is skep

news 24 hours a day, powered by our 2400 journalists in more than 150 news bureaus i am sheryworld, ahnthis is bloomberg. we are waiting for prime minister's david cameron's statement to parliament and we will bring it to you as soon as it happens. in the meantime, we will talk about the "morning must-read." we would ask u.s. voters how they think brexit will affect them. we are joined by megan murphy, our washington bureau chief, to talk about a new morning bloomberg consul poll. tell us about what we found in this poll. megan: brexit is not animating people in the u.s. to the extent as it is in the u.k. and europe, but people think it will impact their portfolios negatively. they do worry that brexit will have an effect in the u.s. david: we talk about brexit a lot and we do not know the extent to which the people in the real world are paying attention, but they actually are paying a lot of attention. megan: of course they are. this is a seismic decision that will affect the world. while voters may have been late to the game because of the impact, they are very concerned about how thi