rinsing: that was alex webb with more on the apple developer conference.ndon which means it is 10:55 and frank for. a quick look at the markets. we are mostly into things. all, the index indicates people are nervous about what is going on. they are saying there is nothing to worry but people are starting to price and the possibility of something not going according to plan. i am not saying if it is going to plan good or bad, but you see the volatility index, gaining. it is at 18.18. the backside as there is pressure on european stocks. overall, stocks were down today. the have been growing over prospect of the u.k. exiting the european union. you also see some safe haven demands. also, sovereign debt and gold. overall, 0.02 unchanged. record low. we may see a new record low as it is today or this week. maybe not but we are watching out for it if it goes to zero and then negative territory. 1.41-1.52. stay with bloomberg. surveillance is up next. we will be talking to stephen king from a just be. a great interview later today with george osborne on brexit.

alex webb, thank you so much.up, a breakthrough drug that may we reshape the way we treat hepatitis c. we'll focus on pharma. emily: bloomberg is presenting emily: bloomberg is presenting what we're calling focus on pharma. we're going deep on the global business of farm pharmaceuticals and biotechnology. consider this. researchers say they've created two vaccines capable of protecting mice against the brazil yen strain of the zika virus. it raises hopes that a human version may be possible. several drug companies are working on it. workers are calling it a global health energy this year. gilead surged in tuesday's trades. our senior analyst joins us now from new york with more. first of all, just how major of a breakthrough is this for hepatitis c? >> thanks for having me on. this is a landmark event because it's the first time we could form a drug to a virus not known. this gives us paths into types of hepatitis c market that were previously not served. emily: could this open other doors? >> yes. type two and th

emily: alex webb, ian king, and brian white, thank you we will -- thank you all.nd we of course will be live at wwdc on monday. now the latest in the ongoing yahoo! saga. we know that the quicken loans to other dan gilbert and at&t at each bid about $5 billion for yahoo!'s core business patents and real estate assets. this is according to people familiar with the matter. verizon has offered between three and a half dollars that $3.5 billion and $4 billion, but verizon is said to be interested in also buying yahoo!'s other assets, but have been told the company wishes to sell them separately. verizon will have a chance to match or top any offer. we know the private equity firm tpg is still involved in bidding and yahoo! has received more than 10 bids. we will bring the latest as details emerge. another story we're watching, the most popular mobile messaging service in japan hopes to raise $1 billion in ipo next month, putting them on track to become the year's biggest market debut for a tech company. they will sell shares and u.s. -- in the u.s. and japan at a valu

joining us to put it all into perspective is alex webb who recently relocated here from england. -- it iseporter back incredible to even believe we are at this point. what does a brexit mean? there are so many huge things that could happen here. businesses and venture capital in london, it's going to be much harder for british businesses to grow and trade inside london. if you think about the broader implications, that could set off a chain reaction. the rest of the european union space beginning to dislocate and everything we have fought so hard for over the last 50 years could quickly unravel emily: i know that it's difficult to put a number on coming people want to leave, but there are a lot of people who want to leave. what are the benefits of that? guest: the argument made is the famous red tape argument. namely that there's a lot of legislation coming out of europe and a largely to do with finicky things like the size of the lightbulb or health and safety regulations and that makes it harder for small businesses to grow because they have a lot of regulatory hoops. that's the argu

joining me are ian king and alex webb and a senior technology research analyst with drexel hamilton.hy did apple pick intel? ian: they have not really announced it yet, it is more hour reporting. the conjecture is if you are apple, you have one supplier, no good for price negotiations. just reliant upon one supplier, so why wouldn't you put yourself in a stronger position? emily: what are the numbers here? how much new business is this for intel question mark bad is it for qualcomm? sizable will be a order. there are numbers thrown around, but it is a big part of business for intel. at the moment, they are not really in this business in a sizable way. emily: what do you make of this change? >> it is about diversifying the supply base. if you have an opportunity to do that and intel can meet the specs, you should do it. it will help pricing and keep suppliers honest. it makes a lot of sense could what i have heard is it sounds like it is more at&t, something like 20 million units. are the risks to putting new chips and a phone when you have so much pressure to perform? ian: counterpar

joining us now to put it all into perspective for tech investors is alex webb who , recently relocatedere from southwest england. and angela mclaughlin, who has backed or than a dozen u.k. companies and is also british. alex, i will start with you. it is amazing we are at this what does a brexit mean? point. what could it mean for business? >> there are so many huge things that could happen here. thinking about businesses and talking about venture capital in london, it's going to be much harder for british businesses to grow and trade inside europe. >> and you think about the broader repercussions if the u.k. does leave, that could set off a chain reaction across europe, wales and scotland leaving the united kingdom, but european union states beginning to dislocate as well. everything we have fought so hard for over the last 50 years could very quickly unravel. emily: obviously potential, i know the polls show very difficult to put a number on how many people want to leave, but there are a lot of people who want to leave. what are the benefits of that? >> the argument made by the lead

. >> reporter: alex webb a brit in the bay area woke up to a new reality. >> britain has woken up and said, what wait what did we do yesterday? this actually happened. >> reporter: alex a tech reportedder for bloomberg says the "brexit" could mean changes for sillicon valley companies. >> this possibility of britain and a huge market diminished enormously. therefore, it might make sillicon valley a more attractive place to build your startup. >> reporter: so it will take two years before the uk officially leaves the eu. what does it mean for bay area companies like google to recently opened london headquarters. >> what does it mean for the employees that they have in the uk? and if they are trying to move peoplebritain, what are the implications. >> reporter: a global business professor says we could see more bay area tech companies looking outside of london. >> [ indiscernible the main effect will be how they manage the european operations, where they establish their headquarters. >> reporter: aside from tech, the "brexit" extends to bay area tourism. >> the uk is our number 2 market