abenomics, aook at little bit more pressure. japan's economy contracted more than initially thought. let's get the numbers from james in tokyo. not quite the sort of news that shinzo abe wanted to hear. >> that is right. the second quarter contraction was larger than initially estimated. larger than our economists forecasted. it contracted 7.1% annualized, the biggest contraction since the first quarter of 2009, just after the lehman brothers collapsed. one of the biggest economic japan's economy is contracting again. looking forward, the economy is expected to grow in the third quarter. recent estimates have not been very strong and economists have revised the down there estimates for the third quarter. the government was hoping for good economic data in the third raiser so that they could the sales tax again. so far, we are not seeing strong indicators of that. here.l me something do we have any good news? >> not from today's gdp data. capital spending was down. private consumption was down. in the current account data that ,

take aook at video from sky 7 hd. you can see the group said the urban shield convention glori glorifies the police. >> they are out with shieldso confront people. it's hardly the model of public safety that we need. >> society says we're going to demilitaryize the police. if you want to wt for the military to come in to stop your mall shooter, i don't thin that is going to be acceptable solution. >> urban shieldis attracting officers from around the bay area. >> following up on that big fire, business where it started is a loss you can see how this building looked fir abc7 newss live on mission street with the story. katie? >> we're here yesterday. there is so much smoke coming off the fire in th building, you would think they would ve lost everything to smoke damage. >> yes. this is open and smoke was in here >> this lisa. the merchandise is clean. this is surprising as they were smoked out yesterday. >> my clothes smelled like smoke. >> at payless oe source, it's similar. here, the store manager on thursday >> and

aooking at shares of conagr with first-quarter earnings that beat estimates. keeping the forecast.coming your way next. ♪ >> you are watching bloomberg "west" paris focus on innovation, technology in the future of his. i am emily chang. cyber security firms are seeing the attacks as opportunities. announcing two new products and that stopping attacks like these. information about the actors and malware behind the attacks. also rolling out an adaptive defense security model. so how exactly can these tools stop the attack? we are joined now from martin view, california. you have been following these attacks and learning from them. you the mostt to about the jpmorgan and icloud hack? anything surprise you in particular? >> thank you for having me on, emily. we did learn things obviously in a number of the recent breaches going on. probably two things that jump out at you is number one, the security breaches are inevitable . we continue to see them not just and retail sectors and thinking retails -- sectors that health care, transportation, legal industries. the offense has become very

market, aook at the lot of technology is coming into one single device. >> a lot of the product already field have been criticized. a nice quote from one of our colleagues at bloomberg news talking about how other wearable devices have in technology in search of a problem. is there a big market for wearable devices? >> for sure. we are on the early adoption curve but there are some clear benefits. people are becoming more healthy and more activity from wearing the devices. it's going to make our lives more convenient. 2.8 million smart phones were sold, 13 million with the tracking devices. ari -- 2.8 billion, are you really saying that gap will close? is apple going to change the market? single-handedly but there will be a conversion of technology. we did not think we were going to be using those devices the way we do today. that's where we are going to go towards, a single platform. >> were you disappointed with the lack of details on the battery and various price points for the watch? >> they talk about a more efficient chip making it faster. complaining about the battery, when you'd

aookings is a place that has special place in the burwell household. we like to read to her children. our children are sex and four. it is a morning ritual over breakfast. sometimes we read the magic treehouse and sometimes we read brookings institution reports. [applause] when my six-year-old daughter found out that i was coming today, i don't seem all dervish, but i do have a message firm -- from my six-year-old. on the whole aggregate gdp eating a less good measure of economic progress, she does not agree. while i am not going to get in the middle of my daughter and a brookings scholar and academic leader, i do just want to skip to the fact that i have great respect for brookings as an institution and the work they do. examining all issues, they take both the long and the short term view. they think about and analyze trends over time, conduct smart, systemic, empirical research. and focus on three words in the motto. quality, independence, and impact. as a former omb director, those words are music to my ears. i want to take this opportunity to appl