you process that dry alumina powder into liquid aluminum.ich you get that powdered alumina into liquid aluminum is the smelting process and in big

dry alumina powder into liquid aluminum. and the process by which you get that powdered alumina into liquid aluminum is the smelting process and in big aluminum smelters it's one of the things we humans have created to most closely approximate the pits of hell on earth. the pictures from aluminum smelters, especially big aluminum smelters, it's basically sci-fi. hard only the this is on the surface of the planet. when the soviet union collapsed and its state-owned giant aluminum smelters were becoming private property, private businesses, that heavy russian industry like a lot of other russian industries at the time turned into full scale murderous gang warfare. as various thugs and connected gangsters fought it out in many cases literally for control of what they knew would be a multibillion dollar private industry. the former soviet now russian aluminum industry. in siberia at the time in the 1990s one of the contenders in that fight, one of the guys trying to get control of this mammoth russian industry, famously, he star

alumina and a few dry alumina out and you take it to your metal processing plant you take it to your powder into liquid aluminum. the smelters aluminum smelters, big aluminum smelters giant aluminum smelters. he started sleeping at his smelters, sabotage and his smelters. a very brutal start by sleeping in the smelters. wragg like i always say whoever smelt it. [applause]

alumina and a few dry alumina out and you take it to your metal processing plant you take it to your smelters, you process that dry alumina powder into liquid aluminum. the smelters aluminum smelters, big aluminum smelters giant aluminum smelters. he started sleeping at his smelters, sabotage and his smelters. a very brutal start by sleeping in the smelters. wragg like i always say whoever smelt it. [applause] greg: it started with the tweet president trump claims president obama has bugged him. maybe he was wrong although mr. obama has been strangely silent about the accusations. could he be hiding something else besides izbar certificate? it's a joke. anyway critics mock trump and france hope the whole thing would blow over and then masood says this. >> i confirmed the intelligence community collected information about u.s. citizens involved in the trump transition. greg: put me in a week and call me sally. really i wanted you to do that. after the show. maybe trump wasn't totally wrong after all. maybe he was half wrong which makes him half right which among politicians makes him

. >> smelters, you process that dry alumina powder into liquid aluminum. the smelters aluminum smelters, big aluminum smelters giant aluminum smelters. he started sleeping at his smelters, sabotage and his smelters. a very brutal start by sleeping in the smelters. wragg like i always say whoever smelt it. [applause] greg: maybe he was wrong.mr. obama has been strangely silent about the accusation. could he be hiding something else? something besides his birth certificate [laughter] it is a joke. anyway Ãcritics mock trump and friends hope the whole thing would blow over. devin nunes says this. i recently confirmed the intelligence community incident only collected information about the us citizens involved in the trump transition. put me in a blonde wig and call me sally. [laughter] really Ãi want you to do that. >> maybe trump wasn't totally wrong after all. maybe he was just half wrong. it makes him half right among politicians. it makes him a genius.enthen it upsets the sky. >> i can't say this. the chairman will need to decide whether he is the chairma

. >> if you try alumina out and take it to the metal processing plant, you take it to the smelter, processnum. the smelting process, smelters. big, big aluminum smelters. giant aluminum smelters. sabotaging his smelters. >> greg: like i said over the weekend, whoever smelt it. >> eric: what is your favorite fish? >> greg: smelter. bob. >> bob: first of all, this is why his politics stink. eric bolling is a good man. adding to the university of north carolina championship lor lore, shot here. less than a second left. they beat north carolina. >> eric: kentucky. >> bob: north carolina beat kentucky. that was luke made. the big news for him, the next day, he made an 8:00 a.m. business class at school and he walked in and he got applause from the students. very smart guy. congratulations. sometimes we only see the athletic side but he did a wonderful job. >> eric: clutch shot. >> meghan: to newborn babies named romeo and juliet born at the same hospital. different parents. they had a shakespeare themed photo shoot in honor of the hospital. they did it for them. so cute, i couldn't handle it. t

. >> smelters, you process that dry alumina powder into liquid aluminum. smelters, big aluminum smelters giant aluminum smelters. he started sleeping at his smelters, sabotage and his smelters. a very brutal start by sleeping in the smelters. wragg like i always say whoever smelt it. [applause]

you can see alumina leading the gains.kei up by almost 1% at one point touching its highest level since december of 2015. missing a record rally on the back of wall street after the stronger dollar weaker yen playing into think there. worth having a look at the korean want today. it is stronger now against the dollar. we are live from london at the top of the hour here on bloomberg television. this is bloomberg. ♪ caroline: this is "bloomberg technology." our top story this hour, snap pricing its ipo shares at $17 a piece, higher than the expected range. it is said to be 10 times oversubscribed, and that gives the company a value of $20 billion based on 1.2 billion shares outstanding on the ipo. basis a $24 billion evaluation. the owner of the company snapchat will be the biggest social media listing since twitter went public more than three years ago. david kirkpatrick is still with me. guest host for the hour. and joining us from seattle is debra williamson, and from san francisco, sarah frier, bloomberg technology repor

on this list, we have medtronic and alumina taking a leg lower. other analysts have said they do not expect this to be the final version of the budget that is passed. then there is biogen, getting downgrades from lyric and morgan stanley. they are saying the drug to treat muscular dystrophy street has gotten up -- has gotten off to a slower start. we have takeover speculation that has to do with wynn, the casino company. unconfirmedbe speculation on twitter and other places where you see traitor chatter. system hasding's been a longtime target, and with the company's proposed acquisition of ppg or not being successful, this is one of the other targets that has resurfaced. finally, we talked a lot about the suppressed volatility in the stock market -- that is expressed by the vix in yellow here. the bank of international settlements has proposed that perhaps the dollar -- the u.s. dollar, would be a better proxy for risk appetite and volatility, and, the dollar, of course, has been hired at much higher if you compare it with the next. x. vi just an

>> well, i mean, in particular, we like alumina for the sequencing they do.here's a got going on in gene therapy. and there's a new technology called crisper that we're watching. so there's a lot of specific names. actually you mention negatively regeneron is not a bad name. >> sam, i find it fascinating the tree areas you just mentioned. illimuna, tools for studying things in labs and things like that. you mentioned gene therapy and crispy, precommercial, gene therapy is getting close. we have here a list of kind of what donald trump has said since he was elected on drug pricing going back to december saying he's going to bring drug prices down to january calling saying the industry is getting away with murder but lighten things in his speech last week talking about artificially high drug prices. what does that mean to you and do you think he's shifted since the election on this topic? >> unofficially high may, in fact, tie back to drugs that have lost theiridn't have competition. the companies raised their prices. and that could be the artificial plat that

in terms of equities we have been looking at today, alumina getting a strong boost in sydney on the back of those reports that china is curbing the aluminum and steel output. the hsbc share buyback announced in london, sending the hong kong based shares up by 1.6%. this is on reports that the chinese website was hacked. have a look at this graph because as i mentioned, the nikkei was briefly at that 19,600 point mark after the dow hit 21,000. the topix, that is actually now at its best level since december, 2015. certainly some very strong movement, of course, a weaker yen not hurting things in the japanese equity market either. anna: thank you, juliette saly. we have heard from yet another official at the federal reserve. even governor earl bernard echoed the more hawkish tone we have heard from several officials this week. >> we are closing in on full employment. inflation is moving towards the target. foreign growth is on more solid footing and risks to the outlook are as close to balanced as they have been for some time. it will likely be appropriate for him to remove additional a ,a

overcapacity will be part of my question specifically about issues of an alumina deal and other issues. thank you for coming by the office. i think we had a great conversation about the value of truth in exporting to the south. well done a good job. a good job of becoming the home of over 6,000 companies who depend largely on exporting. we haven't about a 2.3 -- we have a $2.3 trillion of value goes through our port. half a million jobs in south carolina are expected to the port. so one out of every seven jobs it's important we continue the conversation we had. one challenge that we see at home is if -- conversation about overcapacity and how we deal witness. specifically aluminum and steel markets, it's suggested that's an overcapacity because of folks who aren't playing by the rules. how would you continue the conversation you started with grassley on how we specifically deal with that issue? >> well, thank you, senator. also enjoyed our conversation, and look forward to working with you if i'm confirmed on this and other issue you raid. to me the -- you raised. in steel we have some