bank of history to be one of the money critics and it took a stronger joystick to miss them just for. cilla. where there is water there is life but finding it in australia's arid desert is a skill few still possess they took us to a small what spartans in the desert and this was this is a very important place that i've been telling us about for the last five days who painted. and under orders against all odds an ageing population is possibly on its knowledge the rainmakers of the outback at this time on a. a new television station in afghanistan is turning the focus on women it's on t.v. they are on camera in the guest chair and in the control room the founder of zone t.v. says this project couldn't wait this theme is for those mother symbols to sit on those wifes living in afghanistan there's all this talking about their rights but they didn't see anything in a nation where education was forbidden for girls as recently as two thousand and one and network just for women is a mark of progress there's also a very real element of danger of course we are threatened but be conscious that i

of nations." and for the first time, can you believe it, for the first time in the history of the world bank group, and we're the ones who do these calculations, we're including human capital in assessing welt. it turns out that about 65% of all wealth in the world is human capital. and you know, it wasn't too long ago that the only kind of capital we looked at was produced capital, roads, energy, you know, infrastructure that was built. but then probably ten years ago, we started including natural capital, which we have to take into consideration, natural sources, water, air, et cetera. but now that we look at human capital, it's 65%. when you look at the next slide, it turns out that the percentage of overall capital that per capita, high-income countries have huge amounts of capital, and most of it is human. if you look at and low and middle income countries, there's so much catching up to do to get anywhere near the welt per capita, especially human wealth per capita that there is in the wealthy countries. we asked a pretty straightforward question, i thought. the question was, have things cha

of the first world war has our banking system been so close to collapse. francine: mervyn king was at the epicenter of the biggest exercise in crisis management in modern financial historyhe was in charge of the bank of england in 2007, pumping billions of pounds into the economy. joining me on "leaders with lacqua," former bank of england governor, economist and author mervyn king. lord king, thank you so much for speaking to bloomberg tv. it is always a great pleasure. what lessons have we learned? from the financial crisis? lord king: i hope we learned the lesson that this was a lot bigger than just a financial crisis. it represented a serious problem in the world economy. not sure that everyone sees it that way, but i think that is the most important lesson. i think secondly we learned we need to worry not just about the amounts of of equity capital banks issue, we need to limit the leverage, but we also need to tackle the problem that banks are inherently unstable. and if people lose confidence in them, they take their money out, or they do not roll over their lending, and we need a mechanism for dealing with that. francine: did we see early signs of it, or were we

it's a bank of important in my eyes the stuff i know for history of think that i think this if i knew. what was in my best it was because morning of the buy this is guns a new sun media on is against me as a business to buy a home to. be because i was the so what is the fun about soy as a folded able movie normal people just begin to tommy to difficult still be the most money and. everybody have a dream and you don't need to sell your dreams. yeah some. of the dumbest ago i did was why i'm soon. enough me. yeah. that they support what they've added so we have the best minds by a guy few of us listen to me for my belief that the power of assess. my own. wealth because i got smaller misses me i was power was the good thing but me it was common and is an admission on the set it's got to face the science of work and obviously we're going to stay in school and pam on and on then fine by me must be honest going and this is obviously funny thing unless you pam on and he does the song ima be the ones with the oh master. it in i'm school chum ised of add meaning. of he even father champions le

of fines they're still expecting here . don't you bank started the year twenty seventeen with seven point six billion euros set aside for the litigation risks and fines that's more than in the entire previous history of the bank. the bank paid millions in fines and claims it doesn't do deals like that anymore but what derivatives skeletons are still in the closet it's impossible to tell from the outside how dangerous this risk is all that's known is the value of don't you banks to rivet if portfolio. i can understand that the figures you read big enough to be taken really seriously but you're not exactly scared but these are sizeable sometimes more from naive. you surely don't believe that these positions would still be tolerated in today's world and in today's regulatory environment if they weren't properly secured and seen as stable at play here and up because he had the option of beakers in both believe we'd like to know with almost five hundred billion euros in derivatives we'd like to know how much risk they entail checks have to be constant and comprehensive the chairman of the supervisory board assures us they are we contest that. after all it was this enormous delivered his portfolio that

of the first world war has our banking system been so close to collapse. francine: mervyn king was at the epicenter of the biggest exercise in crisis management in modern financial history of england in 2007, pumping billions of pounds into the

those are the type of organizations which should be receiving money to be alluded to projects that empower people and not the banks that have been part of the failed history of fossil fuels. they are part of the problem, not part of the solution. if the green, fun continues to credit organizations and banks such as those, it is going to become part of the problem as well and not part of the solution. we need be finance, but we needed and the right hands. this is also about ownership, not just the changing of the energy source. amy: 10 seconds. >> we need trillions of finance to make sure the world is headed toward the clean, green planet. at the moment, the pledge is given by rich countries are the -- most is going to the wrong sources. need to make sure it goes to the right places. is with war onn want, based in london. dipti bhatnagar is with friends of europe climate justice and energy coordinator. she is based in mozambique. when we come back, we will speak with one of the key architect of the landmark 2015 paris climate deal, manuel pulgar-vidal, the former environment minister in peru and the president of the cop when it was in lima, peru. stay with

of a dinner party 300 feet underground. but that's not where this story ends. greg area goes has more on the hidden history. for decades the marcus hook industrial complex on the banksthe delaware river refined crude oil helping power the automobile, even fueling the war effort to send fuel over cease. like the times this spiraling facility has transitioned it's now used primarily to store natural gas and its by products, but what makes this spiraling 800-acre facility unique isn't the to your storage tanks, but what sits blow. it's a propane where we store roughly. they digging began and five calf rans were built, the floors of each between 300 and 500 feet blow ground r. these pictures show their immense size. before they were filled with natural gas more than five decades ago, a banquet dinner for dozens held on the calf ran 's floor. it's a workout. how high up are we now? >> i'm tanning on top of 500,000 barrels of propane, enough to power 4.2 million barbeque grills. this structure right here just half the size of what's bury underneath. 43-foot thick granite pillars maintain the stability. they're even able to stand an attack. security is tight and the entran

federal reserve is under pressure to bring more diversity into the ranks of bank presidents of the 135 presidents in the historythe fed, the brookings institution counts six women and just three non-whites. also the question about whether or not they should appoint an economist, which dudley is presidential president, you remember, nominated jerome powell he's not an economist, whether this should be an economist at an important position. finally, the new york fed on unwinding the $4.5 trillion balance sheet. the perfect resume, someone with strong banking and market experience that is beholden to neither. here are some of the names mentioned call it around town. peter blair henry. a dean, moderates a lot of jackson hole conferences sandio conner. knows powell, has worked with powell brian sack is the de shaw chief economist, former new york fed markets group head peter fisher, top jobs in the treasury and at the fed, and seth carpenter, also a former treasury person now. three other names have come up from people at the new york fed now. among them, excuse me one second, the fed governor, robert kaplan, and si

of a dinner party 300 feet underground. but that's not where this story ends. greg area goes has more on the hidden history. for decades the marcus hook industrial complex on the banksthe delaware river refined crude oil helping power the automobile, even fueling the war effort to send fuel over cease. like the times this spiraling facility has transitioned it's now used primarily to store natural gas and its by products, but what makes this spiraling 800-acre facility unique isn't the to your storage tanks, but what sits blow. it's a propane where we store roughly. they digging began and five calf rans were built, the floors of each between 300 and 500 feet blow ground r. these pictures show their immense size. before they were filled with natural gas more than five decades ago, a banquet dinner for dozens held on the calf ran 's floor. it's a workout. how high up are we now? >> i'm tanning on top of 500,000 barrels of propane, enough to power 4.2 million barbeque grills. this structure right here just half the size of what's bury underneath. 43-foot thick granite pillars maintain the stability. they're even able to stand an attack. security is tight and the entran

of the central bank under adolf hitler. the ft says that the project aims to reveal more about what the bundesbank describes as a "dark era" of german historymw and daimler are teaming up to install a european network of 400 fast—charge stations for electric cars. they hope to have 20 of these up and running by the end of the year. bloomberg says that oualcomm is preparing to fend off a $100bn takeover bid. the chipmaker is an industry leader in smartphone components and, if completed, the deal would be the biggest acquisition in the history of the tech sector. and don't forget — let's us know what you are spotting online — use the hashtag bbcthebriefing before we go, financial markets. we mentioned the price of oil going up and up. generally speaking, the markets are starting well. share markets are starting well. share markets across the board in asia, apart from darrou say china. we talk declines there because of debt. —— dare i say. the news briefing is next. let's look at today in the uk. starting today, some nhs patients will be able to access gp consultations via video calls on their smartphone 2a hours a day. the pilot project will

of us. we're really, really going to miss him. >> reporter: the two-time cy young winner, a legend in phillies' history m. we'll leave you with the photo of roy halladay outside citizens bank park, remembering him. also a husband and father of two. >> as roy lived out his retirement in south florida, he continued to be the standup guy that fans and teammates say he was. his recent twitter posts showcased his love for being in the air. he also coached his sons' baseball teams and had purchased a k-9 officer for the pascoag sheriff's office. the sheriff said halladay was no stranger to his duties, and he was about as down to earth as they come. >> a lot of times people talk about athletes and hear about egos or money and cars. that was not roy. >> halladay left an imprint on fans across the area. tweet us your favorite memory of the pitcher. >>> 5:05. check out this dash cam video. it shows the driver accused of shooting a pennsylvania state police corporal. the man sped away after the gun and was seen racing along the shoulder of the road. >> active shoot on the highway. >> that's the emergency call as it happened. the corporal had pulled over a driver, gave him a speeding

of meetings or memos. i don't like memos. jeff: i don't either. [laughter] it is a reporter's place. charlie bank the people part of the 50 year historythe people part of the 50 year history we had don, mike, harry , had gone to abc, came back to cbs, had morley come in, dan come in, was it diane next? jeff: when diane left is when steve came. charlie: he came in for a couple of years. jeff: she went to abc. that is when steve came in. that was a huge development as well. >> how long do think this will take? >> we will push and people hope to have their power in january, maybe february. jeff: talk about a pillar of the broadcast, 30 years. he and i joined together. charlie: you were his producer for a while. jeff: i produced his first story at "60 minutes." season that was a good 21. experience. we were really nervous about that. i was anyway. i think steve was confident. i was new at it. mike wallace -- charlie: another magazine show on cbs. jeff: mike wallace came to our screening. charlie: he has no reason to be there. jeff: it never happens. you do not find a correspondent to come to screenings, but he wanted make sure we are good

nothing worse first will be in the way the devastating impact to save the banks means also to save the deposits of in their recent historyand the failure to prevent disaster banks and political leaders are the people who needed to learn the less i go or from democracy to the markets at this time on al-jazeera. this time the differences. and the similarities of cultures across the world. al-jazeera. this is al-jazeera. this is the al-jazeera news our life my headquarters here in there are coming.

of the ways they're trying to bring down those gua guardreconciles is rails is -- those guardrails is appoint people to very important positionpositions within the got that oversee the big banks but people who have a history of very cozy relationships with those big banks so that they can bring down the guardrails which once again will expose taxpayers to the risks of gambling on wall street. mr. president, that brings me to the nomination that's before the senate today, the nomination of goas of otting to be the next comptroller of the currency. with so much going on right now, i want to take one moment to step back and talk about what the comptroller does. because the comptroller of the currency plays a critical role in ensuring the stability of our national banking system. it is there to make sure that our banks don't blow up our financial system in the kind of way we saw happen in 2008 and the years leading up to that. the o.c.c. has been an independent agency since the civil war. the comptroller has to be confirmed with the advice and consent of the senate, and the reason that process was put in place was to make sure we preserve the agency's independence and safeguard our financial system from the w

three passports, a fake name and dozens of bank accounts revealed in court documents. robert mueller calling it all a history and misleading contact on the part of paul manafort and deputy rick gates the two are under house arrest after a federal court judge agreed with the government that both men are flight risks. manafort has three u.s. passports each of them under a different number. this is not illegal. the prosecutor said he submitted ten passport applications in the last ten years, he's travelled to mexico, eccdoer and china, also in the past year he travelled to tokyo, shanghai, madrid, cancun, panama city. and they were both frequent travellers to cyprus. he wrote that his assets were between $19 million and $13 million and may 2016. but in some months, like when he was serving as trump's national campaign chairman in august 2016 he said his assets were worth 28 million but wrote he had 63 million in assets on a different application. meanwhile frequently changed banks. in all he had 55 accounts with 13 different financial institutions. some accounts were in eng sbland cyprus where he held more than

banks in particular. you cover them over period of years. which banks extended benefit the most? michael: you have to look at all the big ones that have an interest. goldman has a history stanley as well. jpmorgan had a joint venture of the last year. citi has a strong presence as well. i think all those major banks, we have not seen some of the smaller boutiques show as much of an interest because there are obstacles and hurdles they getting into this market. i think all of them see a tremendous amount of growth opportunities. you heard lloyd blankfein talk about this being china's century. david: and he was on the trip with president trump. michael: not a coincidence. i think there is a lot of interest across the board. shery: starting from zero, expanding market share. that will not be easy. michael: bankers of talked about the difficulty of hiring local talent. there is -- a lot of times they brought people in, westerners. there was a desire to have local chinese employees, but the bidding wars for those people is quite high. shery: that is why when you talk about job losses, you were talking about the west and not asia. david: interesting point. michael moore, tha

of story. otherwise indiks everything and pay low lee fees. it's never happened before like this in history. the central banks have recorded it. >> thank you. any other members of the public that would like to address the commission? seeing none, we'll close public comment. there is a motion on the table, there is a second, any discussion on the item? i have one question. price inflation, does it take into account assets like real estate? cost of living? rents? >> the assumptions built around the national cpi-u index that obviously has relationships to returns in real estate, returns in equity markets, returns in other fixed income markets as well as the wage inflation. until that sense, there is that relationship. >> following up, you're using the cpi index? no seclusions? >> no exclusions. just cpi-u. cpi-u. >> i personally -- >> it's urban consumer. >> i didn't use the word "urban" because there are differences. >> i understand it's yo urban nt u.s.a., it is the urban consumer. >> it's the urban consumer, but the data we showed was based on the u.s. measure of that index as oppose to the bay area. >> but the u.s.a. urban index. >> right.

of bank accounts, all revealed in court documents. special counsel robert mueller calling it all a history of deceptive and misleading conduct on the partmp's former campaign chairman paul manafort and former manafort rick gates. they are under house arrest after the judge agreed that they are both flight risks. manafort has three u.s. passports, each under a different number. this, however, is not illegal. the prosecutor says he has submitted ten passport applications in roughly the last ten years. this year, manafort has traveled to mexico, ecuador and china and traveled to tokyo, shanghai, dubai, madrid, havana, grand cayman island, cancun and mpanaa city and frequent visitors to cyprus. his assets were between $136 million in may 2016 but in some months, like when he was serving as trump's national campaign chairman in august 2016, manafort said his assets were worth 28 million but then wrote he had 63 million in assets on a different application. meanwhile, gates frequently changed banks and opened and closed bank accounts, prosecutors said. he had 55 accounts with 13 different financial institutions. some accounts were in england

of the national bank. so we have james madison criticizing one of our landmark decisions. we have it written by one of our other great figures in constitutional history john , marshall. it is a great reminder that even the greatest of constitutional minds can disagree about fundamental questions within our constitution. ur constitution is a document of debate and conversation. the final artifact is john marshall writing to his friend justice joseph story defending another decision where he is a certain federal power in another case. the idea was that if you are in state courts, in this case a criminal prosecution, and you think your constitutional rights have been violated, this is saying, no, you can appeal to the supreme court. the supreme court can decide those sorts of cases dealing with federal, constitutional rights. i will end this with a great quote from john marshall. he says people made the unstitution and people can make it. this is john marshall, the nationalist. john marshall, my nation is the united states, not virginia, it is we the people. it was a time in three decades in which he was able to bridge divides between supporters of jeff

according to a deutsche bank analysis today, that puts it at seventh in terms of history for first yearsr first 12 months for u.s. presidents. mark? mark: we are down for a second day, worst run since october 25, led by autos, financial services and technology. it is earnings dominating afraid today. -- dominating the fray today. the focus on the bond market and trading fell by 28%. it's trading business up more than other rivals partly because of the focus on bonds. there were some high points, revenues from deals, acid gathering, boosted by fund inflows and that is credit sticking. nearly two thirds of 1%, weathering a lack of market volatility better than peers. trading in the global markets business fell 9% versus average decline of 15% on wall street and a drop of 30% at deutsche bank. today,ee in france .5%, getting a boost from its $400 folks cars, the makers of those famously expensive handbags with more accessible products. surging,rter sales beating expectations in every division except luxury goods. there you go. by .5 of 1%. been one year since the u.s. presidential election.

of the bank is the international development association. it was founded at the request of president eisenhower. deep connections to the history of the united states. requested to provide concessional loans with maturity of about 40 years and grants to the world's poorest countries. we have about 75 countries that qualify for these low interest loans. also have a private sector arm that was founded 60 years ago. the international finance corporation invests in the private sector in developing countries. they make equity investments in companies, uses tools such as first loss guarantees to de-risk sectors and creates markets to bring in other private sector investment. the first loan ever provided by ifc was to the german company who wanted to invest in resilient at time when brazil was truly a frontier market. we have another agency, the multilateral verity agency that helps the rest project sectors in entire countries by providing political risk insurance and enhancement. they actually invented political risk insurance. if a company wants to invest in a country, once to purchase a company and they are worried about bad things

of bank accounts, all revealed in court documents. special counsel robert mueller calling it all a history of deceptive and misleading conduct on the partf donald trump's former campaign chairman paul manafort and former manafort deputy rick gates. the two are under house arrest after a federal court judge agreed with the government that both men are flight risks. manafort currently has three u.s. passports, each of them under a different number. this alone, however, is not illegal. the prosecutor said he has submitted ten passport applications in, roughly, the last ten years. this year manafort has travelled to mexico, ecuador, and china, with a phone and e-mail account registered under a fake name. also over the past year he travelled to tokyo, shanghai, dubai, madrid, havana, grand cayman island, cancun and panama city. and both manafort and gates were frequent travelers to cyprus. manafort wrote in financial documents that his assets were worth between $19 million in april 2012 and $136 million in may 2016. but in some months, like when he was serving as trump's national campaign chairman in august 2016, manafort said his assets wer

of our history. i don't think that we need to necessarily change history we need to learn from the history. francis scott key of course wrote the star banks he watched the british balm forth mack henry in baltimore. an elderly couple is frustrated because the department of traps port taition denied their request for a handicapped parking space. they parking permit last year. since then they felt like wrist inners in their own home. emma is 84, lawrence is 88. d. determined they don't need to have one of those spaces because they have parking spaces behind their home . we decide to go outside the home, we got to go down the steps from the kitchen twhee get on the level and then we have to go another set of steps and then all the way back through the alley to get to the car. the riefer's family has lived in the district now for 60 years. we reached out to ddot to ask them about the situation ment the city told us it is standing by its disee situation to det nie the permit because the neighborhood has plenty t of street parking many well they say you're never too young to have a chat with santa and a group of senior citizens in fairfax coun

, not a policy of austerity, and bank bailouts, which effectively put the european periphery with greece, the most obvious case, into, if you want, the dustbin of modern capitalist historythatreated circumstances are not as extreme as those in -- he rico, but himself is making this comparison between puerto rico and greece, comparison.apt they have a fiscal board effectively banning democracy and creating a government -- just what was done in my country. the reason i was elected was to into that. amy: going to bloomberg, who said -- after jack lew these days who could take puerto rico into the euro zone if u.s. were willing to take greece and of dollar zone. he thought that was a joke. what about puerto rico right now, as you watch it back up your generally in athens. you travel. you are here in the u.s. you see the utter devastation of puerto rico, yes, by the storm, but playing on this fault line, the total indebtedness of puerto rico right now and the u.s. control in posing this control board that controls all that happens in puerto rico, the finances. >> well, the grapes of wrath tells the story. the bookneed to read and applied to the case of puerto rico. the whole

with the history of having turnaround situations. bankamerica coming out of the financial crisis. glencore when commodity prices were low. ge today. it is very normal for investors when things do not look good to just the other hands up and say, you know, value notwithstanding, this is just not something i have the patience to deal with. we think the aviation business is one of the best in the world. i mentioned the strength of the other franchises. we think this is something were patient investors will be rewarded. abigail: one fact you have not had to be patient with his quebec, a more than -- is also phabet.f -- is al huge numbers on the year. they are expected to bring up $88.6 billion in revenue. do think there will come a year when growth moderates into some shareholders getting a shift, despite the huge numbers? win: it is funny. when you look at our position in alphabet, our credentials as value investors can someone be questioned. [laughter] win: it is a thousand dollars stock and projected to earn $45 a share. if you look at the

of baseball history. a game that's over 100 years old. think of all the great players current and past who never got to the world series. ernie bankshese guys are here and they have a chance to win. >> kevin: for the dodgers, it's one of the historic franchises in baseball history and they haven't won in a long time. 29 years. what would it mean for the dodgers, for the city? >> alex: it would be amazing and monumental. it's amazing to see mark walter, the guggenheim group, magic johnson's ownership. what they've done in five years is awesome and fascinating. but like the yankees, they are judged with world championships. they've had a fascinating season but they can't drink champagne and have a parade if the season is a failure. >> david: this is one of the greatest franchises of all time. everybody knows what the dodgers are all about. the group who owns the dodgers came with one plan. leave here tonight and win a worl

reform agenda of president xi jinping and this comes after he cemented his leadership and his place in chinese history at the communist party's nineteenth congress full ownership in banking will start in three years for the insurance sector it will follow suit in five this was a focus of meetings between the chinese leader and donald trump earlier this year china's benchmark c.s.i. index closed the friday session at point eight percent. higher it was actually reaching for two thousand and seventeen a high right at four thousand one hundred fifteen point nine one points to be specific and boeing general electric qualcomm and ford motors were also on a list of deals linked to trump's eleven day tour. digital currency bitcoin experience a flash crash of twelve percent this week after reaching another record high of nearly eight thousand dollars and ether the second most popular crypto currency has had hundreds of millions of dollars frozen due to a computer coding error there are some questions about wallet owners ever getting the money back here to discuss is former u.s. trained commissioner bart chilton important point he was the first regulator to actually speak out many

the fed under pressure to bring more diversity into the ranks of bank presidents take a look at this graphic of 135 fed presidents in the historyf the fed brookings says there were six women and just three non-whites. one of whom is the president of the atlanta fed. there's also the question about whether new york fed president should be like dudley, an economist. this after president trump nominated jerome powell to be the new fed chair. he is not. they're also looking for someone with strong banking, strong markets experience, but someone not beholden to either banks or the markets. so here's some of the names we're hearing b ining bandied an in the search that will take six to nine months peter blair henry, dean of the new york sterns school sandy o'connor of jp morgan. has regulatory affairs brian sack, once had a top job at the fed, as did peter fisher. also at the treasury, seth carpenter, ubs chief economist who was also in charge of financial markets for the -- sorry, at the treasury and has 15 years at the federal reserve. one more list to look at, a couple sort of fed current members, robert kaplan, dallas fed preside

of the road. if they have more than five employees rkz, for most industries, public jobs, not all, so not the bank robber situation, where they will not ask about prior criminal history up front in the application process. so what we're really talking about is not whether you can ask about someone's criminal history, but when. >> so michelle alexander wrote this fantastic book called "the new jim crow," which was all about how the felony system, marking people as a felon, was in effect the same as the old jim crow laws. do you think this could be transformative for racial diversity in companies? >> well, potentially. i mean, we have to remember, people of every ethnic group have been convicted of crimes. in fact, the majority of people who've been convicted of crimes are not a member of a minority group. but having said that, minorities are disproportionately represented for a variety of reasons in our criminal justice system. i don't think we have time to go into all of those right now. so i wouldn't necessarily cast it in racial terms but rather cast it in terms of simply equality. i think there are two laws that actually are going to go into effect january 1, both

experts have not seen any indication that the trip location history, credit card numbers, bank account numbers, social security numbers, or dates ofident is going to give any sort of reasonable person pause about how much they can trust the company. >> at the time of the hack, uber was under investigation for pri privacy violations dealing with the embattled ceo. in a blog post, uber's new ceo wrote none of this should have happened and i will not make excuses for it. we are changing the way we do business. >> a former doctor for the u.s. women's gymnastics team will likely spend the rest of his life behind bars. larry nasser pleaded guilty to abusing seven girls who came to his office for medical treatment. jericka duncan reports. >> reporter: for nearly 20 years, larry nasser team physician for usa gymnastics admitted in court to penetrating the vaginas of seven minors, six of whom were gymnasts he worked with. the judge -- >> you violated the oath that you took which its to do no harm. and you harmed them. alexis alverado says nassar sexually abused her. >> i know he will never do it again. >> the victims were 15 or younger whe

of the bank is the international development association. it was founded at the request of president eisenhower. deep connections to the history of the united states. requested by president eisenhower in 1960's to provide close to zero interest loans with a maturity of about 40 years. a payback time of about 40 years in grants to the world's poorest countries. now we have about 75 countries that qualify for these low-interest loans. we also have a private sector arm. the international finance corporation and vest in the private sector and developing companies. it makes equity investments. it creates markets to bring in other private sector investment. the first loan ever provided was to the german company siemens who wanted to invest in brazil at a time when brazil was truly a frontier market. we have another agency. it helps de-risk logix, sectors, entire countries by providing political risk enhancement. it actually invented political risk insurance. that is, if a company wants to invest in a country, purchase a company for example, and they are worried about bad things happening like for example a change of regime and the r

of you see u.k. soci. minouche shafik joins us. minouche was former lee the deputy governor. she was also the youngest vice president in the history of the world bankas later responsible for the department of international development in the u.k. minouche just gave a speech which discusses why the welfare contract is under pressure and how inequality and technology are putting pressure. thank you. first of all, what is your premise? societyty is bad for and we need to bring it back closer if we're going to have better cohesion? minouche: absolutely. many of the divisions we see in society i think are driven by the fact that the welfare state isn't fit for the modern economy. pressureer huge because of aging, technology, automation, and what that is doing to the ability of people to contribute to the welfare state. francine: what does automation bring? how do we look at the drunk drivers? what will our society look like in the next 10 years? minouche: estimates they re-, but most people think automation will affect about 60% of jobs in the next decade or so. this new wave of automation is it is not just manufacturing and truck drivers. it is also go

seen any location that history, bank account numbers, social security numbers or birth dates were downloaded. >> this incident will give customers pause. >> reporter: at the time of the hack, uber was already under investigation for privacy violations while dealing the troubled tenure of travis kalanick. uber's new ceo wrote: none of this should have happened and i will not make excuses for it. we are changing the way we are doing business. >> it's going to take time to clean things up. he needs new leaders and change the culture. that's a big project. >> reporter: carter evans, cbs news, los angeles. >>> uber says it took immediate steps last year to secure the data and it sees no evidence of fraud or misuse tied to the incident. a security officer and executive were fired in connection. >>> walgreens is trying to cut down on robberies in its stores. the company has installed time delayed safes in its pharmacies in several states to protect the medicines that thieves target. walgreens says that criminals are less likely to rob a pharmacy when they know that they will have to wait for a safe to open. >> it's a time delay safe so the pharmacist once they activate

of history. so much extortion around the world. in times past, quantitative easing meant banksed up every single bond in the world. it is pushing investors with a liquidity and risks like junk bonds. you buy a lot of junk bonds and then the yields go down. this is what we are seeing and it is causing distortions everywhere. the federal reserve and ecb are looking to unwind at the moment. we are seeing some slow on the junk bond side. the high-yield decide, some issues in the last few weeks. the high-yield index has creeping -- been creeping higher lately. tracy: the end of an era, zimbabwe loses the only dealer it has ever known as mugabe finally resigns. this is bloomberg. ♪ ♪ tracy: welcome back, you are watching the "best of bloomberg markets: middle east." robert mugabe finally stepped down as president of zimbabwe this week, bringing an end to 37 years of rule since the country gained independence from the u.k. i asked a reporter whether a constitutional crisis has been averted. >> it seems to be that way. the military seized power a week ago and most people thought mugabe

westin down one full percentage point at 1.3 112 with what must be the most dovish hike in history from the bank ofemory. weasuries catch a bid as await the tax plan from house republicans and the official nomination expected later today from the president of the united states of fed chair powell potentially. we awaitalix: some of the movers ie market, tesla is front and center, down 6% in the premarket. this will be the worst day for the stock since early july. was $1.4 billion and it pushed back the model three production target until the end of the first quarter. although baird says you want to buy the stock, nomura warning that more financing may be needed. shocking. also looking at facebook, shares down by as much as 1% in premarket. citi.ve jpm, jeffries, barclays all raising. revenue rose in the third quarter 47%, but what will it mean to its future when it has to combat d.c.-russia intervention into the election? alibaba, cloud revenue rising 99%. 540 million people log on at least once a month, that is almost two times the entire u.s. population. monthly users rising 20%, crushing it is an

of agricultural history tucson is recognised as a unesco world city of gastronomy the seed library distributed more than twenty six thousand seed packets last year and a library partners with a local food bank to combat hunger in the community their focus is really helping low income families and organizations grow some of their own food create some of these green spaces in their homes and in their organizations to be able to supplement their diets classes at the food bank demonstration garden teach the public to harvest and thresh yeah we do this. well pressing dance into save seeds for later the more we can save our own seeds in this community and distribute the seeds amongst each other we're going to end up with an amazing stock of seeds that's really well adapted to this climate and this region for free look at the mountains i mean could it be any more beautiful here harry crane rents a small garden plot next to an elementary school seeds from the library have brought home some delicious returns these are french brecht that are called french strategies so let's. that's very very fresh very flavorful very glad. to see library asked successful growers to bring back seats from their harves