join us as bloomberg tv heads to puerto rico. welcome to a special report on "puerto rico: island of debt and opportunity." i am stephanie ruhle. even after raising $3 billion, puerto rico is still $70 billion in debt. that is one difficulty the island faces. along with double-digit unemployment and energy prices that are double the average rate in the u.s. mainland. governor alejandro garcÍa padilla has announced a comprehensive plan to surmount these challenges and turn the economy around. i visited puerto rico last month and asked the governor about the changes he's making and the tough road ahead. >> we will be able to reduce the deficit and i am about to prove the first balanced budget in 23 years. i am balancing the budget without firing people. we have been able to reduce the unemployment rate, reduce very heavily the crime rate. so, we are improving. >> how? how are you doing this? you have raised this money, it will buy you time. what are the actual action steps because you have to get out from under a big deficit? >> th

join us as bloomberg tv heads to puerto rico. welcome to a special report on

morning, worldwide, particularly europe and france, as well as bloomberg radio and bloomberg television8.9 billion find. the real news is it will be mostly business as usual for france's bnp paribas. they retain the dividend. will limit client losses. they will look beyond the 2014. robert kaplan, a senior associate dean at hbs, a former vice-chairman at goldman sachs international is with us this morning. also with us, michelle colusa from gilt group. tearara suit in, what you -- you parachute in, would you tell everybody at bnp paribas? >> from the outset, it looks like a cultural problem. they have been warned about this. they still had money laundering, and i cannot figure out why, so there is a compliance issue, and maybe a leadership problem. there is a cultural problem. >> how do you define air errort? you have to teach against, rather, at hbs. how do you manage a normal human condition? >> we try not to teach arrogance at hbs, but the truth is, people follow what they think senior management wants, and obviously there was a culture in this thisny that even though was the law, th

finally, the second-most accurate precious metals price forecast out there as far as bloomberg stats that gold rallying is about to reverse. corp. sees gold and silver posting losses for the year. >> all right, su keenan, thank you. that is how many fireworks will light up the skies on friday night for fourth of july celebrations, but it is also big business for local retailers and states. alix steel is doing double duty and looking into these explosive moves. >> you have to had you -- you had to have the pond. boom. we are looking at $675 million according to american pyrotechnics. that is just the stuff in our backyards. not counting the millions that will be sold in terms of display fireworks. over the past 15 years we have doubled what we spend on fireworks, lighting up more than 100 63 million pounds of the sparkly stuff. people really save up for this. buying fireworks is more widely accepted, injuries have fallen somewhat. states have been relaxing firework restrictions. now, plus d.c. and puerto rico allow for people to buy some kind of fireworks, although not the really gene

out to the we had a day job owning, as bloomberg called the, as glenn stevens says this currency is overvalueds oh -- has run the numbers. $.87.somewhere around if you haven't got a peashooter as the new zealander bank says they have, you have intervention. short-term it works, they say. we are just carrying through those for the jobs report today. practicing self capitulation. basically, they are lowering their targets to 83.6 on the dollar index. -- same time,me they are getting stronger dollar. and you and have condemned the adduction and murder of a palestinian teenager in israel. it has sparked fierce clashes interest loan. secretary of state john kerry calls it sickening while the u.s. demands justice over the despicable act. nicolas sarkozy says the influence peddling charges aimed at him are to humiliate him. wrongdoing.ed any >> i want to tell those who are listening to us, for those who are watching us, that i never did -- never betray their confidence, that i never did anything contrary to the republican principles or the rule of law. >> defending champion andy murray is out of wimb

as well. let's go to the bloomberg terminal. this is what the pros look at. adam is talking about wages and benefits. up to 2007 on wages and benefits, this is the eci index. off we go back to some form of lower wage growth. the whole debate is, do we get ramification they -- and then the ramifications. >> especially when productivity has been low at the same time." my former professor at princeton -- he says you have not seen that yet. there is proof positive it has flatlined. >> we will talk about the janet yellen speech today. an important speech by janet yellen, appearing with christine lagarde yesterday at the imf. front pages this morning, there is alix steel with our front page. >> janet yellen and christine lagarde talking about the economy at the imf. basicallylagarde saying the global economy will not return to the pre-crisis world. there has been the new normal created. she says there have been various aspects of financial reform that has been changed but a lot remains to be done. and you heard from janet yellen, what you were referring to, saying

just billion down 4% year-over-year. 6.5%.come just down for more on this, cory johnson as well as a bloombergustries paul sweeney in new york. you were saying alibaba has saved yahoo! again. it does not look so good. >> the core fundamentals that yahoo! probably took another step back believe it or not this quarter. the company missed consensus numbers on revenue and eps second quarter so that was the disappointment. third-quarter guidance is always -- also below expectations. the core display advertising business for them really took a big step back in the second quarter after showing a little first life in the quarter. investors are stepping back saying marissa mayer has been their two years and made a lot of investments, a lot of acquisitions, lots of positive core product things but we're just not seeing it in the fundamentals as of yet. when marissa mayer took over two years ago, everyone said to give her time. it's been two years. paul is saying out who is taking a step act. >> do you remember what i said two years ago? warren buffett has this great line i paraphrase. when a manager wit

>> as a reminder to our viewers, you can now get a live bit coin price quote on bloomberg. me for another loom berg exclusive. paying a record fine -- $9 billion to pay for doing business with countries such as sudan and others. they have not been found to have done wrong but -- >> the stock continues. back in 2004 executives of b.h.p. paribas came up with this plan that instead of doing these businesses on behalf of the sudanese and where they live, instead of using b.h.p. using -- instead of b.n.p. paribas, they would put this other plan into place. originally, it was perhaps deviced by legal advice that they thought was above audit. that would stop them from being against these sanctions. they used a network. a next of non-u.s. banks. arab banks used then you disguise the transaction to get this arab bank to pass on the money to j.p. morgan without showing it was linked then j.p. morgan would route that on the whoever was deserving of the particular payment. j.p. morgan then you say unwhitingly helped billions of dollars often payments come from areas sanctioned against u

as bloomberg reports, it is very busy on wall street as several big companies report as well.ill beeeks news dominated by net earnings. investors will be looking for possible updates on how the video streaming country -- company plans to launch its services abroad. on tuesday, apple will join the earnings fray. there third-quarter profits are expected to rise. will beat its revenue guidance of 36-38,000,000,000. watchersches -- apple will be looking for intel in the release of the iphone six. microsoft, mcdonald's, coca-cola, verizon and comcast. are expected -- higher second-quarter earnings after increased mobile advertising revenue. other powerhouses reporting wednesday, boeing, at&t, pepsico, and baidu. on thursday will be the likes of amazon, general motors, ford, caterpillar, visa and starbucks. also thursday, the imf for release its world outlook, giving its update on the global economy. christine lagarde warned that growth forecasts may be cut amid risks in the u.s. and weak investment. previously owned u.s. home sales and consumer prices both likely saw an increase, b

>> coming up in the next hour of "bloomberg surveillance," steve miller, join chairman of aig, will join us ast. ♪ >> a disaster like no other. await transfer. in gaza, hamas battles back in a horrific day of fighting. good morning, this is "bloomberg surveillance." we are live from new york. is monday. july 21. i am tom keene. host, steve miller, chairman of aig. right now, let's get to or monday brief. >> very few pieces of economic data. asking prices for property fell for a second month. the marketed slightly. a different story in new york. it skyhigh. >> it is an interesting dynamic to see warehousing goes in the next 90 days. states, we have some earnings coming out before the bell. halliburton and six flags. after the bell, chipotle. >> it found -- it sounds like a monday in july. there is word this morning about rupert murdoch boosting his business with aol time warner. he is thinking about selling assets. he could raise more than $30 million. a major drugmaker faces losing a top backer. allergen shares have been sold. they are fighting a takeover bid by value pharmaceuticals. two fast

agreement katherine ruckelshaus an attorney for national employment law project even went as far as telling bloomberg that quote technological advances allow mcdonald's to watch over its franchisees operations like a hawk and ways that go well beyond simply protecting its brand a decision in this should leave no doubt the mcdonald's is an employer and put an end to it self-serving charade that it's not but it's really no wonder why mcdonald's is doing everything in its power to prevent workers from organizing because if the company's workers did they might just start demanding ridiculous things like decent working conditions adequate health care and a living wage to the fight for fifteen dollars an hour minimum wage is gaining momentum all across the country and large parts of seattle's decision to raise the base wage to fifteen an hour over the course of the next seven years but despite this growing pressure fast food workers continue to be grossly grossly underpaid earning just over eighteen thousand dollars a year. on average or eight dollars and ninety three cents an hour now some of you may be t

as its new ceo. or more on the challengers he will be facing, we bring in the senior analyst for bloomberg intelligencebe mr. cornell's biggest challenge? be tohink it will overcome the breach last december. that will be the biggest challenge as we go forward in the next six months. >> and who is the most important constituent? the managers, the employees, the shareholders >> i think it will be the customers, first and foremost. makingis also about target -- bringing it back to what it was. bringing target back to the customer with a lot of excitement. that is key to making target a cleat -- a key player in the landscape. thisu have watched merchandising of target versus other competitors. what is the immediate thing they can do in merchandising? about bringing new brands and new merchandise. walmart is all about price. units.is all about as long as they continue to bring units into their stores, their customers will come. >> and right now there forecast this year.about 2% what would bring people in? >> new products. they have this huge rochus on household. -- this huge focus on household. they are bri

the former prosecutor is with us here as is bloomberg businessweek's sheelah kolhatkar.t did not weigh it -- it did not look like the case was going well into the verdict. are you surprised that your former boss lost the case? >> thank you for inviting me. every time the federal government brings a case like this, they believe in their case, they put all their resources to find it. -- all their resources behind it. here with all the evidence of re raj, theing to government said it was -- there were difficulties the government had to overcome. >> like what? where was the mistake? >> sometimes you do not pick your cases or the facts, but the government did not have a cooperating witness during any particular witness who took the witness stand and said rengan in aatnam was involved conspiracy with us. no witness testified to that. joe kumar's testimony was hurtful to the government, and that was the government's own witness. they had too much heavy reliance on the wire calls. third, there was a lot of contemporary evidence. >> what contemporary evidence? thatmails, phone re

as well. a major earthquake in mexico, south of mexico city trade for those of you on bloomberg radio, way below peninsula almost to guatemala, 7.1, the u.s. gs as well. tremors felt in mexico city many miles away. futures, negative three. dow futures, -20. the surveillance agenda. stay with us. ♪ >> good morning, everyone. bloomberg "surveillance." tom keene with adam johnson. greeley is with us as well. >> last week betty liu was able to speak to the president of espn while he was not high-fiving other executives. betty liu, this has to be the ultimate victory for espn. >> oh, yes. the streit all the -- despite all the streaming glitches that have been talked about, it he is a happy man. he has been over the last several weeks. has been a little bit of a change here in america. suddenly we are all watching soccer. that is something that even back in 2010, he was certain noticed during the world cup games then. here's what he said about what they learned. cup where therld united states went out in exactly the same round in a 2-1 defeat, i said people are still going to care. we are going to get

as is bloomberg "surveillance." live from our headquarters in new york. it is thursday, july 3.son. alix steel is with us today because scarlet fu has demanded the day off. >> amazing how she put that together. >> i am off next week for a conference. >> 13 days off. that is shrewd. >> let's get to the brief. it is a busy one. >> euro area manufacturing services area doubles in the second quarter. u.k. services rise at a record pace, jumping. we will get the unemployment rate in the u.s. the unemployment rate expected to hold steady

"bloomberg surveillance." confusion reigns as israel except the cease-fire.ts of records fired from the gaza strip towards israel. j.crew morgan is -- and jpmorgan is out with earnings, goldman sachs and 7:30, and we will look at johnson and johnson in this hour. the idea of johnson and johnson benefiting the time from obamacare. good morning, everyone. this is "bloomberg surveillance." scarlet fu of course does such a great job on earnings, and right now it is a very big beat. i have yet to see it in futures, likeet, but jpmorgan citigroup and wells fargo joins better than good. >> expectations were very low for the big banks overall, so we have adjusted earnings per share number. consistence among analysts that we surveyed was for earnings of one dollar 30 one cents, so this looks to be a big beat here. -- for earnings of $1.31. words, you back to $.13 off the $1.59. is the number we want to look at here. it is a comparable number to the consensus of $1.31. in terms of revenue, $25.35 billion is higher than analysts were looking for, beating most optimistic

as possible. stay with bloomberg television for the latest on this breaking story. we mentioned in the open, our chief washington correspondent peter cook is joining us now, talking about two crises that peter had the attention -- that, peter, had the attention of the international committee. ukraine and gaza. what is the latest. >> we will start in ukraine, where prime minister got the milk -- were prime minister yat senyuk, to the surprise of many, resigned. the government still fighting separatist rebels in the east, it's just adding to the chaos in ukraine right now. he negotiated ukraine's $17 billion loan from the imf. recently elected president poroshenko said they will allow for a full reset. he welcomes this change. meanwhile, the european union announcing in the last little bit that it will expand its list of russians facing sanctions, but will not release the list until tomorrow. the bureau of spy chief could be on the list. the head of the foreign intelligence service could also be on that list. you have the russian security council head and the chechen

. >> it may not be political per se, but the message as michael bloomberg tweeted, when he went on to an el al flight into tel aviv, this hands hamas an undeserved victory. >> terrorists want to disrupt a daily pattern of life. they effectively managed to do that. i spoke with elliott abrams, he worked for the bush administration, he says there's no evidence that this was political, but the longer they keep it in place when there's a second airport open, when there aren't any more rockets so far in the area, then the conspiracy theorists can start to build and maybe this is a political move on the part of the administration. >> if not the flight ban, who do you think will be the crunch? what eventually will maybe them capitulate? >> we hope a cease-fire will come about. we don't want a flight ban to make that, but this is a small tactical victory for ha has. ben-gurion is very important to the israeli economy. people fly in and out of the there. it's a public relations issue, you know, it also what it might do is may push the israelis, instead of moving toward a cease-fire to push it

bloomberg television is "on the markets." futures are lower into the open as rallied on the most since april on friday. . ♪ >> we are 30 minutes from the opening bell. u.s. futures are slumping this morning. european stocks finished lower and this is what we are working on -- russian president vladimir putin is facing worldwide pressure to diffuse the ukrainian conflict and rebels there of being blamed for the downing of the malaysian jet. allergan is cutting 1500 positions. russia andtween ukraine are intensifying after the shooting down of the malaysian flight 17. u.s. and europe are threatening further sanctions against russia and vladimir putin accused politicians of using the crash for selfish political aims. joining me now is ryan chilcote. how likely is it we will get more sanctions placed on russia? we sought the u.k. prime -- we saw the u.k. prime ministers suggesting and dust trail boycotts -- industrial boycotts. >> the way they make decisions at the european union is by unanimous decision. everybody has to be on board and there are 28 countries. th

as the world focuses on ukraine and gaza, what are we ignoring? is it syria, is it iraq, is it asia? tweet us @bsurveillance. ♪ >> a good one, everyone. "bloomberg" i am tom keene. jeffrey rosenberg as chief investment strategist at black rock. he strategizes so his clients may have a pot of money at the beginning of the retirement trail. as expected, the expected return work the so-sumpedon of investment return. it is changing. not all of it is good news. this is an important conversation. where is our expected return? >> expected returns are links to economic performance. at the end of the day, the ability to generate returns is a function of the economy's ability to grow and deliver returns for investors, and the big story in the aftermath of the crisis is that you're in a lower level of economic growth and therefore a lower level of returns. a big part of a lower level of returns for fixed income investors, for retirees, is the low level of interest rates. we have lived in a world of zero interest rates -- long time. >> it is a big part of the conversation what we get out of that, but investors have been faced with much lower bond years come

this is "bloomberg surveillance." weekend ases harsh sanctions against big russia business. path. takes a separate time warner is in play as the great media consolidation continues. forget about plastics. you want a job that is rewarding. good morning, everyone. this is "bloomberg surveillance." world live from our headquarters in new york. it is thursday, july 17. i am tom keene. joining me scarlet fu in adam johnson. we a right to it. international brief, here is adam. >> we're starting with the u.k. where for a second day in the row we have a rising economic data. wage growth .7%. but mark is only .7%, carney has telegraphed that rates are likely to rise in there sooner than later. maybe the first of the major countries to do so. we should also point out result -- kind of a different story. their keeping borrowing rates at 11%. >> that is inflation with no growth. >> stagflation.

in the u.s., initial jobless chicago pmi as well as the bloomberg consumer comfort index at 9:45.

michael bloomberg flying to tel aviv as the u.s. expands access. ith michael bloomberg. he has tough words for the faa. >>> and a grim procession. the remains of flight 17 victims arrive in the netherlands as two more jets are shot down in ukraine. we want to welcome our viewers in the united states and orarou the world. i'm wolf blitzer in jerusalem. you're in "the situation room." >>> tonight hamas leaders are declaring a victory over israei. now the that the united states is banning flights for another day. terrorists are getting what they want as the battle with hamas rages on with deadly results. we're following all the breaking news here in the middle east. >>> and in europe, we're learning more about the investigation into the downing of malaysia flight 17 as the first remains of victims are returned to the netherlands. we have our correspondents, our analysts and news makers standing by to keep up to the minute developments for you on all of these major stories. first, new details in the fighting in. gaza and the devastating fallout. >> repo

collateral damage. >>> coming up next, former new york city mayor, michael bloomberg, flies into israel to prove it is, in fact, safe. even asts are intercepted near the airport in tel aviv. mayor bloomberg joins wolf blitzer live for an exclusive interview. stay right here. shut down in america. there's no reason we can't manufacture in the united states. here at timbuk2, we make more than 70,000 custom bags a year, right here in san francisco. we knew we needed to grow internationally, we also knew that it was much more complicated to deal with. i can't imagine having executed what we've executed without having citi side by side with us. their global expertise was critical to our international expansion into asia, into europe and into canada. so today, a customer can walk into our store in singapore, will design a custom bag and that customer will have that american made bag within a few days in singapore. citi has helped us expand our manufacturing facility; the company has doubled in size since 2007. if it can be done here in san francisco, it can be done anywhere in america. ♪ i voted for culture... ...with a 'k.' how a

as well. bloomberg's alix steel has been looking into the six most of numbers.these -- explosive numbers. >> we will spend about 100 $75 million according to the american pyrotechnics association, and that is what we will spend lighting firecrackers in our backyards, and that does not count the millions that will be spent by cities and counties on the big day. the economic slowdown, recessions at times be dammed. recessionretty much proof. we have doubled what we spend. it equates to 328 million pounds of the sparkly stuff. you can see the great recession, com crash -- it did not make a difference, and the .umber only grows revenue increased 60% in the last decade to about $328 million last year. people take fireworks very seriously. it is one of the things they spend on even if money is tight, and consumer firework laws have been relaxed. these are the friendliest states for fireworks, but 43 states and washington state and puerto rico allow people to buy some type of fireworks. this is helped by the fact that firework related injuries have also declined. >> wh

as is bloomberg "surveillance," live from our world headquarters in new york.. i am tom keene. joining me, scarlet fu. adam johnson has a busy morning for us. >> july 1. hard to believe. unemployment in europe is 11.6%. think of that. that is a lot of people. we are at 6.3%. they are at 11.6 percent. overall manufacturing has slowed. the purchasing of managers index having some problems. in europe, germany and u.k. were bright spots. in the u.s., several key indicators on manufacturing. 9:45, and ati at 10:00, construction spending and throughout the day vehicle sales throughout the month of june. two

herbalife is a detailed -- and distasteful business, and as was pointed out on bloomberg view, in manyes over the last year and a half, bill ackman has pointed out something about herbalife that he considers wrong, and herbalife has subsequently changed its behavior. that does not make it a pyramid scheme, but it does say something, duane stanford, does it not, about the case that blackmun is making -- bill ackman is making. thee have reported about illinois case. besides are credible. clearly, something happened there. it is very difficult. regulars will have to work through this, but it is difficult to figure out exactly who was told what and what happened. that eventually could be a compliance issue for herbalife. it could potentially mean they are not looking hard enough for this type of activity, assuming what happened actually happened. these are all questions that are valid and no serious person would say those are not important and valid questions that he is raising. the issue becomes does all of that, and the anecdotal evidence, rise to the level of a criminal enterprise, espe

it was kind of clunky, like a giant square. >> coming up on bloomberg adam shows us" as his iwatch, deanaki will be our guest host. we look forward to speaking with him about the labor market. this is bloomberg "surveillance ." ♪ >> good morning, everyone. good morning, bloomberg "surveillance." i'm tom keene. with me, scarlet fu and adam johnson. warning must read with our editor-in-chief matt winkler, marty schankel are -- all from "the wall street journal." look at this. 125th anniversary. was a cub reporter when this came out. next toright down here denver six and seven cigar makers. they had some special celebrity columnists. my morning must-read read is from taylor swift, the songwriter -- >> the economist. >> she is talking about the future of music and she says it is like a love story. she said every fan had already seen this show online. to show them something they had never seen before, i brought out special guest performers to sing their hits with me." >> i know her. "if you were romeo i was scarlet letter ♪ >> good music. today was a fairytale. >> excuse me. i thought her wor

sources are telling bloomberg news the agreement could be announced as early as monday. isdition american tobacco going to somehow participate in this deal. they would be willing to keep their stake at 42%, helping the deal go through and we know that imperial tobacco in london is going to be a part of buying the assets that are going to be divested to appease regulators that will be concerned about come addition issues. has anolds american market cap around $33 billion. lorillard 23 billion. >> reynolds is the second biggest in the u.s. and lorillard the third biggest. trying to compete with philip morris. this is coming as smoking is declining in the u.s. people are spending fewer dollars on cigarettes. the companies are trying to broaden their horizons and get into markets where smoking is a growing market. , if this dealtor does come to fruition, what does this mean for the liabilities a company like lorillard has assumed? a sense in which reynolds is buying a certain amount of risk. the companies they have absorbed over the past 15 years really made most of the ciga

there were a slew of stories on business insiders, zero hedge, obviously on bloomberg as well.ood stuff. raises a lot of questions about the over-the-counter market for penny stocks. here with us is a former investment enforcement attorney at the sec. tom, thank you so much for joining us. i did not expect this stock to trade at all, but i'm looking at the bloomberg quotes, and there are some traits, not a lot, but a little bit of volume going out around five dollars when it opened, now about $2.40, so not worth nothing. is that surprising to you? >> it is surprising. because of the regulatory rules, there cannot be open quoting and markets being made, so all of these traits would have to be on an unsolicited basis essentially, a person calling up their broker saying hey, can you help me find someone to sell the stairs to or on the flipside thing can i buy some of the shares of cynk technology? >> is there a bigger chance that this is really just investors who have been short the stock even while he was suspended, had to pay everyday -- are they just trying to cover and get out

as usual -- usable there. they look at the china eventually tom a no question. >> david kirkpatrick, always appreciate your time. appreciate your time. and to bloomberg reporter sarah frier. >> interesting stuff on facebook as always. trucking, a lifeblood of the american economy but also a very dangerous profession. how technology is making the highways safer for truckers and the rest of us. ♪ >> and cory johnson and this is "bloomberg west." sap announcing their continuing cloud platforms. the german-based company has now committed to open stock. sap and oracle coming together. cats and dogs. veteran in enterprise software joins us now to talk about this. how the worldtant of computing works but i want to start super basic. why the cloud? why are more and more doing work in the cloud? >> it used to be if you wanted a bigger, more powerful platform you would have to buy a geometrically more complex computer. i got to the point where there were not computers big enough to handle google, facebook. they invented this platform described as scale out. you add inexpensive commodity resources and it scales out on demand. it is both infinitely scalable and

as you mentioned, some big names, some recognizable names to bloomberg viewers. mpany, a big energy as well as the biggest independent gas producer in russia, on this list of sanctions. you have two big banks. you've got gas prom bank. major financial institutions in russia. what the main aim of these sanctions will be is to bar them to be able to access u.s. capital markets, being able to transact and get debt financing longer than 90 days, and according to a senior administration official, these are firms that routinely accessed the u.s. capital market. in addition to those companies that are targeted by these sanctions, you also have eight arms companies, russian arms companies adding to the instability in ukraine. you've got individuals within , as well as some organizations seen as destabilizing ukraine. some groups are fighting the ukrainian government right now. they are also targeted. separatehave individuals targeted for sanctions here by the united states government. some of them, close aides to vladimir putin, the head of the russian security service al

weus figure this have julie hyman, senior markets correspondent in new york, as well as blue review columnist -- bloomberg review columnist matt levine, and a bloomberg contributing editor who has invested in companies that have sold to twitter and others. does this company really exist? >> unclear. i don't think we can say this has anything to do with the social media or technology bubble. it appears to be a routine pump mp, although we have to do digging into that. it is not like there are other people buying and bidding up the stock. here is what we do know, and it is precious little. there was a website associated with the company. you pay for connections to celebrities or other people, but it is unclear if you can actually do that. i think matt tried and it didn't quite work. there are different people associated with the company. i spoke to an out of her of the company who said it is a shell company for people to come up with social media ideas. i spoke to an attorney and he has not yet returned my calls. ceo of the company -- i believe this would be the third or fourth -- again, this is a letter fr

as well. thank you all for watching this edition of "bloomberg west."he latest headlines on your phone, tablet, and bloomberg.com. ♪ >> the following is a paid program. >> this is a paid advertisement from the united states gold and silver reserve buying these items carries risk. the use are those of the advertiser. the information presented is accurate as of this taping.

as well. yesterday we surprise -- got a surprise rate cut from the israeli central bank. all of that is coming up here on bloomberg is a very busy morning. let me remind you as well we have a 10:30 press conference from b.p. we'll cover that story for you as well. if you want to join that conversation, i'm at guy johnson tv. that is where you will find me. over the next hour or so, a lot of news to tweet out. we'll be talking about all of those subjects. we hope you will join us for the next hour. see you in if a moment. ♪ >> b.p. gets a boost from rosneft. but the british oil giant warns that sanctions could put that relationship at risk. deutsche bank also says the standoff with moscow could lead to a spiral of sanctions. u.b.s. tells us it remains committed to russia and the fighting in gaza intensifies. the leader of hamas said the conflict won't end until the world stands up to israel. hear from him this hour. and israel's finance minister speaks to bloomberg tv this morning as well. good morning to our viewers in europe. good evening to those in asia. a warm welcome to those just waking up in the united stat

as tv killed the summer blockbuster? ♪ >> good morning, everyone. bloomberg "surveillance."hnson is back. i am betting on argentina. >> you have been betting on argentina from the beginning let's bring in betty liu. he has. he did not just jump on the bandwagon. >> he went way ahead on argentina. he liked the blue uniforms. that is how my mother chooses teams. that is how i choose my cars. i love that keller. >> that is fair. i will grant you that. 100%. >> we are very excited to have him in the studio with us. heard him unveil the gm compensation plan. is going to be joining us more the thinking behind this. the claims start coming in august 1. there are so methinks to account for. >> there were 13 deaths linked to this. how many claims this he expect? cover 2.6 going to million of the cars recalled. i don't know if there will be that many numbers. obviously they will be looking through each case. it is wide and big. this fund is uncapped. he has a limitless amount of money. >> it might not be that you died which you had some other complications. >> there are all these ques

as the black widow among competitive eaters. history iny to make this friday's coney island hot dog eating >> this is "taking stock" on bloomberg. i'm pimm fox. just two days away from the july 4 holiday it happens to be the day of the nathan's hot dog eating contest. sonya thomas known as the black widow in the competitive eating contest. she has built a career for competitive eating holding many world records and titles. thank you very much for being with me. let's start off by talking about competitive eating. how did you ever get involved in the whole world of eating as us sport? everybody eat, but i have a special skill. i have a big appetite. i can eat a lot of food. and then competitive eating, i did not know they had competitive eating since before 2003. i was watching tv. i was watching an eating competition. i thought it interesting. maybe i going to try out. >> when you say try out, did that mean you had to go into some kind of training or this, or was it unnatural ability? >> natural ability to need a lot of food. then the hot dog eating competition is they have a qualified round. you have to win to be at coney islan

bloomberg west this hour, means biggere sales. the company getting geared up for its largest initial run of iphones ever. this comes as competitors like omi are releasing bigger devices. kobe bryant is getting ready to the technology community for inspiration. he talked to bloomberg west about the lesson he learned from apple. politicians swinging for silicon valley, hillary clinton was here. what's with washington's obsession with the texting -- with the tech scene? to our lead story after saying android buying other smart phones, apple is going all in with bigger screens. the largest initial run of iphones ever. it 70-80,000,000 phones with larger screens. bloomberg broke the news a wild back. 5.5 inch screen. this comes as apple faces increasing competition from samsung and xiaomi. the senior managing director joins me and the chief research analyst. brian, let me start with you. even when they announce a new product, this feels like the quarter before something. phone fored for this a long time. it's nothing revolutionary. >> you called it early. calling for a bigger phone for a long time. >> yes. that's what the

as well. thank you all for watching this edition of "bloomberg west." latest headlines on your phone, tablet, and bloomberg.com. ♪ >> welcome to "money clip," where we tie together the stories, videos, and interviews in business news. i am adam johnson. the car business is one that has a lot to lose. dick parsons shows us his playbook for the l.a. clippers. this is a bloomberg exclusive. and an investor shows us how to take care of business in venture capital. and finally -- a bird, a plane? actually, no. putting you in the middle of the mayhem.

we will see it play out as the mid terms elections approach. bloomberg news saying progressives are running against a do-nothing house and conservatives are framing the president as so incompetent he has to bend the law to get his agenda. jonathan alan is here and too early to say which side benefits from what the president is deciding to do. he said he's going to do whatever he can do change immigration law. >> the president doesn't have a great option. you have tens of thousands of people, children, coming across the border and this crisis that we have spent tens of billions trying to secure the border. if he sends people back and that is his intention. if he stregthens the border he is going to anger the folks in the democratic base that would like to see him go more toward welcoming immigrants into the country. there is still a real battle with immigration in this country and it has been going back to the early part of the last decade and it will continue through the mid-term elections and possible into the 2016 election. >> when the president announ

as well. more on the markets a bit later. "bloombergbe right back. ♪ >> you are watching "bloomberg west." thevation, technology, and future of business. samsung group's powerful leader is entering his third month in the hospital halloween his heart attack, leaving his family having a hard time maintaining control of the business for the first time since 1938. there is increasing pressure to unravel the complicated ownership structure that has been a part of the company. they also made $5 billion in inheritance taxes. they weather the change? our in-house samsung expert is with us. sam, you visited their headquarters. you have some understanding of the structure, i imagine. do you feel you have complete understanding? i know that this is fairly complicated. >> does anyone really have complete understanding of the structure of samsung? there are 74 companies that are part of the group and they are all part owners of each other in this kind of ridiculous maze of thes holdings that somehow lee family controls with only 2% of the total shar

as you can see. the fed minutes were a little more dovish for the market. >> the are bloomberg's top headlines. nesiaooms as both presidential candidates have claimed the three in the election. the rupiah is at its strongest level in seven weeks. more than one million public sector workers are striking in the u.k. schools and tax offices will be affected by the walkout. ceos and leaders from tech and finance are meeting in sun valley. major media deals have been hatched in sun valley, including last year's sale of "the washington post" to amazon's jeff bezos. zuckerberg takes center stage at the sun valley conference, let's take a look at what he has called the challenge of our generation. two thirds of the world population do not have access to the internet and the challenge is providing those people with an internet connection. we meet now with a man who is trying to address that challenge. much forank you very joining us, for bringing your rockets and your settlement with us as well. how close are we to connect the other 3 billion to the internet? we will be a lot closer tomorrow. we can then

as possible. hoffman joining us from bloomberg industries.ephanie ruhle and erik schatzker is coming up next. ♪ >> live from bloomberg headquarters in new york is "market makers." >> microsoft goes on a crash diet. the ceo is cutting as many as 18,000 jobs, the most in company history. >> treasury secretary jack lew calls on corporate america to quit moving overseas in search of lower taxes. we will talk about it with president bush's former chief economist. to ease thea tries pain of a record drought by imposing fines on water wasters. you are watching "market makers

that is money that marshall are open to take advantage of as military contracts wane. angus bennett, bloomberg to the stock exchange. let's check on what our reporters are watching. we went from pimp my private lane to pimp my -- in the u.s.. >> stocks up by 1%. basically the nikkei is seeing new -- coming out from nomura. they are basically saying that approval from regulators. approved.kely to be we're looking at the merger of the third and fourth largest carriers. cracks wasn't too hard to make regulators were ok about that. this is in the best interest of consumers. sco and steelc pipes. >> ice to work in brooklyn, new york. hyundai high school falling today because the government has slapped import duties. it alleges trading violations. legs from her stock exchange. thank you for joining us today. have a great day. ♪ . ♪ >> a very good morning to you. i am john dawson, and we are on the move in asia. ♪ germany are football world champions, their first in 24 years. stocks near rebound in asia. what lurks inside the iphone? china has security concerns that apple denies. david