he's still sharp as a tack and so i think berkshire shareholders don't have to worry about what berkshireike post-buffett for another five years >> amazing they got to bottle the water in omaha and sell it around the country. thanks as always we're back in a minute >>> amazon market cap as it nears a trillion within $20 billion. needs to get to 20.50. dow is down 106. back in a moment whoooo. tripadvisor makes finding your perfect hotel... relaxing. just enter your destination and dates. tripadvisor searches over 200 booking sites to find the hotel you want for the lowest price. dates. deals. done! tripadvisor. >>> the economy really since the fall of 2009 has progressively gotten better but it started from a very low base it started from panic. and we now have had nine, very soon -- we got nine full years of improvement in business i mean quarter by quarter. sometimes it looks 1% or 1.25%, sometimes 2.5, now it looks even better than that but business is good >> certainly buffett has been reading stories about corporate profits in at least the last quarter. >> absolutely. even with the i

my, my being anchored in the toth century, did not help berkshire.tell you, look at this, the money, 3.3 million, will go to homeless services. the glide foundation. >> that's terrific. liz: people say it is strong, it is getting stronger. so by that logic, we would expect to see a lesser demand for homeless services. are you seeing that at all? >> no no, glide takes people of the world that people given up on, maybe they forgive them up on themselves is. cecil for 50 years has never given up on anyone. liz: there are millions of jobs out there, you could argue, that is terrific, but you could argue that the quality of the jobs isn't necessarily incredible, well-paying, some don't come with benefits and wage growth is stagnant. why is that right now? >> liz, you're right about what you say. the problem is not the 25-year-old is retrainable if something happens to their job, but, take carpet installation. nobody thinks about, everybody will tell you if i talked to our carpet people, everywhere in the country they need carpet installers. they need truc

right now that the biggest strides are trying to be made by the private sector we mentioned the berkshire alliance companies going directly to the insurers to demand better rates. is that the way it's going to be is it going to be driven by the private sector or is there a role for government? >> you know, i think market forces work best so if you're talking about drug pricing, coordination of care, employers lowering their cost of care, going direct, i think, is the most effective i think federal and state governments, medicare, medicaid, have a role to play in standards and in protecting the clinical quality in some ways, but i think market forces work better when you're trying to lower costs and improve quality. >> there has been that role of market forces driving down the price of drugs and with scott got li

berkshire hath away boosted stocks. bloomberg has the latest. >> the economists and analysts if you take the trade war, the earnings tend to rise the market. let's go right to the snapshot. there are a lot of interesting factors in the mix. dollar, oil and stocks. gold is lower and we have oil when it gets to how a lot of hedge funds getting scared off by these trade news. let's go into the big movers of the day and i'm calling them spotlight stocks. berkshire hath away coming in with a strong second quarter report. that is boosting the sector. facebook looking large as there is speculation they may have some kind of connection with the banking industry. twitter showing google along with the ride. it's not going to be cleaning out the information war accounts. let's go into what is really the big story of the day and that is the earnings, unprecedented earnings is the title of this chart. find our charts and the story is 80% of the s&p firms have exceeded estimates. we are way up here. that is a peak. health care has le

su: soros, berkshire hathaway's buffett.erkshire is doubling up on the favored area, banks and a irlines, not to mention apple. they increase stakes in goldman, delta, southwest, and reduced some positions, they say not because they fell out of favor, but to make sure they do not exceed 10% ownership of american, wells fargo, ual and charter communications. soros took new stakes in spotify and pandora, also facebook, buying when everyone was selling, and devon energy. a a lot of the big billionaires are buying into energy. we saw that with stanley druckenmiller's family fund. soros increased his stake in nxp semiconductors, reducing stakes in netflix. very interesting, some reduced stakes in tesla. ramy: with what has been happening in the share price, moving back and forth. still ahead, we have a lot for you. we will dive into the booming world of esports. for competitive video gaming in asia. haidi: up next, the outlook for the markets, as fears about turkey appear to take a breather, for now at least. this is bloomberg. ♪

the debate continuing over whether berkshire can buy back shares.shares to expensive? the company's requirement is the price has to be below berkshire's intrinsic value, conservatively determined. david: warren thinks he can invest the money better than shareholders. julie: but he has not been finding as many places to invest in. david: coming up next on "bloomberg markets," priya misra will be joining jonathan ferro. this is bloomberg. ♪ >> 30 minutes until the start of trading. this is the countdown to the open. jonathan: coming up, china indicating it is ready for a protracted trade war. president trump said the u.s. has the upper hand. washington is beginning to reimpose sanctions on iran. beijing rejecting requests to cut iranian oil imports. theygan boss suggesting better be prepared to deal with 5% 10 year treasury yield. more in a moment. 30 minutes away from the opening bell. as follows. futures dead flat. s&p 500 futures down just a single point. in the market, you see some dollar strength. euro-dollar down to 115.43. treasuries.ty and jus

and berkshire hathaway listing energy and financials. the s&p 500 closing at its highest since january. brexit angst sent sterling to an 11 month low. ramy: from bloomberg's global headquarters, i am ramy inocencio in new york. will be in thes spotlight later after snuffing out initial gains following the pboc move must week. iran strikes -- last week. for demanding compensation "decades of american intervention." haidi, such an hour here with you, heading into daybreak asia, and it was pretty bullish. at least a little bit hopeful. take a look at where we closed. mentioned, earnings, especially with financials, berkshire hathaway pushing up the financials. saudi arabia revealed it had production cuts in the last month, so this is what we are the drivers.ms of nasdaq up by .6%. bloomberg dollar spot had been higher in u.s. trading, up .2%. nymex and brent crude up higher, .6% each. futureses -- gold cannot get higher because of what is happening in the rising rate environment. haidi: yield seeking investors put up by the strength of the

and famous investor warren buffett's company berkshire hathaway is making their latest market shifting investment in india the financial times quotes a knowledgeable sources saying that the previously tech shy buffett's company is betting on india's largest mobile payment payments platform pay t.m. by investing between two hundred eighty five and three hundred fifty million dollars and pay to parent company one ninety seven communications and taking a stake of three to four percent in the parent corporation pay t.m. says it has three hundred million users in india with four billion dollars in value of monthly transactions on the platform of berkshire hathaway now joins big names including ali baba and softbank as investors in paid parent many market watchers quoted in the reports of caution that while this is a first for berkshire mr buffett is not personally involved in the deal and may not this may not set a new precedent or policy for mr buffett with regard to technology. there are some mega moves in the right hand. space says d.-d. the chinese company has suspended its so-called it

and famous investor warren buffett's company berkshire hathaway is making their latest market shiftinginvestment in india the financial times quotes a knowledgeable sources saying that the previously tech shy buffett's company is betting on india's largest mobile payment payments platform pay t.m. by investing between two hundred eighty five and three hundred fifty million dollars and pay to parent company one ninety seven communications and taking a stake of three to four percent in the parent corporation pe t.m. says it has three hundred million users in india with four billion dollars in value of monthly transactions on the platform of berkshire hathaway now joins big names including ali baba and softbank as investors in paid parent many market watchers quoted in the reports of caution that while this is a first for berkshire mr buffett is not personally involved in the deal and may not this may not set a new precedent or policy for mr buffett with regard to technology. there are some mega moves in the right hailing space as d.d. the chinese company has suspended its so-called it sh

in airlines, berkshire sold some of united and delta. almost 19% earlier, they put out a a statement urging investors not to read too much into the trading during the quarter the firm said it wishes to avoid owning 10% or more of an intes vest tees shares and says many are repurchasing shares the firm said it's not necessarily their view on the relative attractiveness between these holdings you know, just one of those kind of portfolio management strategies, guys >> thank you back at hq coming up tonight, do not miss jim cramer's interview with elizabeth warren on mad money. they'll discuss the new bill which could give employees a stronger voice in corporate si making. more "squawk alley" still to come >>> months after announcing he was leaving facebook, well, not without his wallet jan ko urum has continued to shw up in men low park once a month so his options would take effect his incentive here, stock awards totalling $450 million according to the w"wall street journal." facebook confirmed he is still an employee. >> this is interest

the economic, economic times saying berkshire would invest as much as $350 million and valuing paytm at $10 million if the deal happens, the first direct investment by berkshire in india >>> and a programming note, next thursday becky quick is going "squawk alley" with big ratings by interviewing warren buffett there's no i in team, i realize that, of course, and i'm very happy for "squawk on the street" and that franchise i don't know, why can't they do it at 8:00 >> maybe warren is not available. >> all right good luck. knock them dead. no, it's -- you know, we get him usually here >> share share. >> why don't we just leave the set. >> i have been told that i will be staying past noon at some point -- >> what do you mean? >> we're going to have to -- >> you're going to sub in on another show >> she was everywhere. it's a huge loss we all have to step up for the team so, i'm willing to -- >> when they said you're staying past noon. >> i've done "power lunch. it's difficult but i've heard there is even a possibility of even -- not your show, but the one in between possibly >> "closin

are purchasing shares, that requires berkshires to make adjustments.ir view of relative attractiveness >> yes, 100% of that, huh? >> a trillion dollars company now. >> a bit more difficult. >> it is amazing that he finally sort of threw in the towel >> it makes you wonder if he'll make decisions like that on other investments. amazon he had such positive commentary on and jeff bezos and he keeps on saying he missed it. apple is a consumer product company and not a technology company. >> he wishes people would stop talking about apple and the same is true about amazon because he wants an entry point where he can buy into the stock at a price that he deems, you kn know -- >> if he thinks so >> you have done amazingly well from missing every big tech company, google would have been great. >> he spoke with the found erer early on >> what about facebook >> he knows zuckerberg but he spoken less about that >> amazon would have been the one closing in on $2,000 now, that's going to be a trillion, is it? >> leslie, thank you very much >>> let's talk about the

shares of the iphone ker, making berkshire apple's biggest shareholders.more than 2 million shares to its holdings and the positions are as of the end of june. shares of apple rose today to 210.24. goldman fell to 229.25. >>> the sec has reportedly served tesla with aubpoena just days after ceo elon musk tweeted that he was considering taking the company private and that financing wasecured. the subpoena was first reported by "the new york times," shares dropped 2.5% to $338.69. kleenex and huggies are about to get more expensive. kimberly-clark is raising prices among most of its products to combattyigher commo costs. it's risen 60%, and that'sne according to estimate and consumers will start to see the higher prices in the first quarter of this year and the first quarter of next. shares popped to $116.46. >> and the move by kimberly-clark follows price increases by other consumer companies like procter & gamble. those costsre intensifying because of the ongoing trade tensions with canada and with ina. so if rising prices continue to be a part of a bigger

have you seen any impact on berkshire businesses or higher costs associated with tariffs?> definitely. we buy steel, for example, at high tech and we buy it on other places and we are seeing some effects from that and some effects from >> we've seen more in the way of cost increases in the last year, if you go across all of our businesses, but particurly building materials. we sell paint, the mechanic comes ind it was much more expensive than it was a year ago. >> the interview with m buffett was done before he joined the winning bidder of his annual charity lunch. the meeting with the oracle went for more than $3 million. the proceed goes to the glideti foun which serves the poor, homeless or those battling substance abuse. e lunch came on mr. buffett's 88thda bir happy birthday. >>> oil price essex tended their august climb. the price of domestic crude asettled above $70 a barr supplies as well as supply disruptions out of iran and alsd venezuela, there are also new reports that iran is threatening to halt the flow of oil through the straits o hormuz which is the route f

in berkshire is making takings -- and berkshire is making tweakings.e meantime, it boosted its holdings in apple, u.s. bank or, pharmaceuticals, and delta airlines. this is all taking place in the second quarter. -- there.eir joe: they have killed it on that apple holding. they entered when a lot of hedge funders were dumping it and said it was boring. they've also been accumulating during the incredible run. lisa: i will say there was a big which i find interesting. it you continue beaten up pharmaceutical company thereinafter hours trading. i find it interesting because this could be a vote of buffettce by warren saying therefore this generic drug maker. i believe that is the biggest in the world. scarlet: i went through some of the other ones, for apple it's barely budged. lisa: exactly. -- for apple, it's barely budged. lisa: exactly. coming up, more details on argentina's fight to stabilize the peso. this is bloomberg. ♪ mark: i am mark crumpton with first word news. british police returned a bicycle to an unidentified cyclist outside parliament t

berkshire hathaway has added into sectors, widening its bets on banking and aviation.t boosted investment in three banks last quarter as part of a strategy to shift its $180 billion portfolio. berkshire has quit some long-term holdings, including ibm, while moving into apple and other companies. 22 people died when a highway bridge collapsed in the metairie name -- mediterranean port of genworth. rescuers fear more victims may be buried in the rubble. the bridge was built in the 1960's and the company that operates the highway says the strengthening work had been underway. global news 24 hours a day on air and on tictoc on twitter powered by more than 2700 journalists and analysts in more than 120 countries. i am paul allen. this is bloomberg. still ahead, property data from china, morningstar says the key risk is government policy turning to harsh. rishaad: china loses momentum in the escalating trade war, but our next guest remains positive. we will be talking with aberdeen standards next. this is bloomberg. ♪ rishaad: you are back. i am rishaad salamat. continuesna'

would be interested in buying here was his response. >> berkshire wouldn't be that's partly becausekraft hines, too, we wouldn't be i think it's very hard to offer a significant premium to the package company and still make sense. the package company makes tangible -- >> it was widely anticipated they would be announcing their strategic review today stock down 2%. was down a little bit more than that some encouragement from the interim ceo keith mclaughlin on the 90 minute call saying we remain open to everything, this is starting point. maybe giving hope out there to activist starters who have been pushing for the sale what's left of this company now is the struggling soup business and the snack business, which is sort of a gem, the growth business but has a complicated distribution system, and a company that's had trouble incorporating acquisitions >> you say some hope for activists, but carving out some of the attractive assets makes sales less likely. >> it is the time where if lowe wants to nomidate directors for the board unclear whether that will happen. bigger uncertainty is

form of berkshire hathaway now joins big names including ali baba and softbank as investors in paid parent many market watchers quoted in the reports of caution that while this is a first for berkshire mr buffett is not personally involved in the deal and may not this may not set a new precedent or policy for mr buffett with regard to technology. there are some mega moves in the right hailing space as d.d. the chinese company has suspended its so-called it should be carpooling service that after a brutal assault number of a female passenger this follows another murder of a writer in may the company restates released a statement which read quote as a platform d.d. failed to live up to trust and by the public and has inherent responsibility and hoover is taking the long way home to profits have it focuses not on cars or rescue vs but makes moves toward more urban friendly transport lots to get up to speed to on the right hailing space let's get with alex my hyla but she's always savvy and sophisticated on these things alex that this is spencer of the car pooling service the hitch is a big bl

it's the biggest holding for berkshire hathaway at $56 billion.uy even since that filing? >> we bought just a little, about 6 million of the shares are attributable to another fellow in the office that's owned it for a considerable period of time the rest are my portfolio, but i bought just a little bit -- i like to buy them cheaper it's difficult we started buying or i started buying when the stock was maybe 100, i was buying it kind of as fast as i could, and i ended up buying some as high, a whole lot higher, i don't want to name the exact price but a whole lot higher i'd rather have it go down for one thing, if it goes down apple is going to buy a lot of stock back, already buying stock back if it goes down 10% it means they get to buy 10% more shares and my interest will go up 10% more for spending that money i am benefited by going down if i were to talk my book, i would talk it down >> i spoke with an analyst today, gene munster and he pointed out the interesting thing for apple for a long time it was a volatile stock, it traded in the boom

berkshire hathaway has added to its holdings into a warm potato sectors. banking and aviation.tments and delta, andhs, subplots us court appeared that is part of a strategy to shift to $180 billion portfolio. moving into apple and other companies. at least, 22 people died when a highway bridge collapse in the mediterranean port of genoa. rescuers feared come on more victims may be. in the rubble. the bridge was built in the 1960's and the company that operates the stretch of highway says strengthening work have been underway. they had dropped momentum percent, its biggest one-day fall since 2008. the tesla drama has turned another page. goldman sachs is it was no formal relationship when elon musk to get that they were working together. sources told bloomberg, the bank had not officially signed off with mask sent his message. despite musk's confidence, they were not board tesla shares fell. global news 24 hours a day, powered by more than 2,700 journalists and analysts in more jessica countries, i'm summers. this is bloomberg. tencentill ahead, will find its head of 10 asian re

they are pushing their way across hampshire, towards kent and berkshire.this evening they will push further north east. bringing the threat of some heavy rain as well as both thunderstorms and also some lying water possible. elsewhere we expect a giant like to come and looking a bit fresher than recent nights. still warm across the south east corner. that fresher air will push further east across all of the country through wednesday. the blue and green colours returning to the. on the day on wednesday a lot of dry weather and some scattered showers especially in the north and west. we are still looking at the warmest weather across central and south eastern parts of england but even here around 10 degrees cooler than it has been today. around 23, 2a degrees. in two thursday and other mostly dry day with some showers across northern ireland and scotland and some more persistent rain possible across parts of the of england and east anglia. elsewhere it is dry. feeling fresh again on friday, some sunny spells and showers cropping up across parts of scotla nd

and later this hour, our interview with warren buffett, always the berkshire hathaway chairman and c.e.o. turns 88 today. it is 19 minutes into the trading day in the u.s. blarg's abigail doolittle has the latest on u.s. markets. abigail: we are look agent very small moves. mixed action, too. you can see the tech-heavy nasdaq higher, putting in yet another all-time high. but the dow and the s&p 500 at least so far not joining in. we've had a string of bullish days until today for both of those indexes as well. it will be interesting to see whether they turn with the nasdaq. in fact, let's look at a five-day chart of the s&p 500 to see the rally we've had more recently. last friday, of course, fed chair jay powell, the marks had a dovish reaction, pushing up stocks, and that seemed to continue right into this week. but today, the slight, slight decline. but again, the nasdaq has turned. but when we go to the bloomberg, you look at what's happening sector-wise, it is bearish. this is the map in the bloomberg, which you can view using the bloomberg to see what's happening sector-wise for an

regarding new entrants into the delivery system was not asked the as a result of jpmorgan, berkshire hathaway or amazon coming together. hoping -- was still question wast asked what believe 70%, there are some responses influencing that outcome. our health system has not been designed with the consumer in mind. for example, after hours care and same-day access gets hard to come by or at best inconsistent. telehealth, for example, as an innovation at the new market entrant back in 2012-2011. it introduced consumers to what's possible virtually in the convenience, and access that comes with that. in 2012, 14% of employers offered telehealth as an alternate pathway to accessing health care on select services. today nearly all large employers provide telehealth as an option and 20% of the employers expecting utilization of 8% annually or higher. but since the introduction of telehealth we have seen virtual care in digital solutions into the health care market at a rapid rate. we now have virtual care solutions for lifestyle coaching, chronic condition measures such as diabetes, sleep, nu

when you think about amazon, jpmorgan, berkshire hathaway coming together, i think if it is just going to be another purchasing coalition, i would expect incremental change. but if you begin to leverage amazon's footprints within the home, their relationship with the consumer, their customer obsession as we talked about, healthcare is not as custom focused as it needs to be. amazon's customer obsession, the customer loyalty they have, begin to leverage their ability. one of the challenges with healthcare, employers don't touch the system with enough frequency for it to be routine to be sophisticated consumers. amazon and other online shopping is routine for many people and if you can incorporate healthcare into their routine and leverage their platform, you have an opportunity to reach them in a way no one has been able to reach them. for me when i look at this coming together, how do you leverage their platform. and to reach people in a more man's natural way, more frequent way than we reach them today. yes? >> the question about high performance networks, obviously related but differ

when you think about amazon, jpmorgan and berkshire hathaway coming together, i think if it's just going to be under the purchasing coalition, then i would expect incremental change. but if you begin to get leverage amazons footprint within the home, the relationship with consumer, the customer obsession as we talked about health care is not as customer focused as it really needs to be, amazons customer, the customer loyalty than, begin to leverage their ability, one of the challenges with health care, employees don't touch the system with enough frequency in order for it to be routine. in order for them to be sophisticated consumers. amazon and other online shopping is routine for many people today. and if you can incorporate health care into their routine and leverages her platform, then you have an opportunity to reach them in a way that nobody has been able to reach them. for me when i look at this coming together, the opportunity is how do you leverage their platform to reach people in a more natural way any more frequently than we reach them today? yes? >> a question about i guess

anna: that was the berkshire hathaway ceo warren buffett speaking to david westin. was giving us some of his top calls in terms of liking stocks. henrietta pacquement. warren buffett likes stocks. given how far we have run, or u.s. equities in particular, how do you balance that against your world? the credit universe? henrietta: i think it is fair. his comments on stocks compared to bonds is an interesting one. from our perspective, we are slightly bearish on rates, particularly for europe and the extent -- to an extent in the u.s. the risk is the political risk. trade, e.m., and so on. we are also bearish in terms of rates. andher area that we like, that touches on his stop comment, we quite like financials. you have to watch the volatility there, but that is an interesting place to play in the credit markets in europe. particularly as european banks have been improving their fundamentals. and we still like loans. if you look at the investment grade, that is another area we like. we favor it over high yields. nejra: is there any true competition for u.s. equities

. >>> warren buffett and berkshire hathaway making big beth bets n apple, airlines and goldman sachs. >>> and a billion more reasons why jeff bezos may be taking over the world on this wednesday, august 15th as "worldwide exchange" begins right now. ♪ let's have a little talk good morning thanks for starting your day with "worldwide exchange." here's how your money and global markets are setting up the day dow futures, s&p, nasdaq slightly down. not a big guidance here. but they have seen a change. ten-year yields, they are still hanging below that 3% mark in fact the ten-year yield is at 2.89%. turkey concerns have the bond market getting a bid over the last couple of weeks the good news is that that should help keep mortgage rates in check by the way, they are at seven-year highs in asia, as we eluded to, it was a sea of red once again the domestic chinese equity market, the shanghai, was the big decliner, down 2%. shenzhen down 2% these markets are both down more than 20% from their recent highs. hang seng is down 1.5% the nikkei falling 0.7%. we'll get more on this story from sing

and we will hear from berkshire hathaway's ceo, warren buffett, what he says about health care, apple and the state of politics today. ♪ shery: countdown to nafta, the u.s. stressing its self-imposed deadlines for a deal tomorrow as negotiations continue. president trump showing signs of optimism and canadian officials say that the u.s. is showing a willingness to reach a deal. here to discuss is michael mckee, our policy correspondent, and our trade reporter in washington. mike, we keep hearing the time, -- term, a deal in principle. what does that mean about getting a deal with candidate and the trilateral deal with mexico? e it: budget enough -- fudg enough so that you can later fill in the blanks. a deal incredible was made on monday with mexico, but not a lot of things finished yet. they need to get something done in order tomorrow in order for tom and jump to congress that a deal is coming to them and get it done before nieto leaves office on december 1. they want to have it wrapped up before the new president takes office, because he might want to tinker with it as well. so the

liz claman will go one-on-one with warren buffett, berkshire hathaway chairman and ceo. thursday 3:00 p.m. countdown to the closing bell on fox business. >>> markets ma major averages off session highs. still set to close at new records. nasdaq is looking at a new record. the s&p looking at a new record. russell 2000, small guys hitting a new record. it will kick in nine minutes nicole petallides on floor of new york stock exchange. with a lot more, nicole. >> they're excited. they like momentum they're seeing for markets overall. you mentioned how well we're doing on the dow, look at that, up 245 points for sectors. really utilities, defensive play is one in the red, plenty of green and reports for the s&p and nasdaq and russell. taking a look at movers. nasdaq leaders an laggards. interesting to see while i was talking to scott rid letter of t3 live, people while stocks were moving up were taking money off the table. jd.com is up 4%. some people might take some money off the table, for example, costco hit a new high. now it is in the red. maybe some people saw the high

haidi: that was none other than berkshire hathaway chairman and ceo warren buffett with us.in, ken president trump's comments-- can president's comments on fellow strength lead to fx intervention? this is bloomberg. ♪ recapping some of these lines coming from the argentinian finance minister and treasure, talking representing the 2019 budget later today saying it is going to be aimed at making argentina more vulnerable to shocks, to dispel all the doubts that investors meet saying he's off to with the imf on monday to further discussion saying the economy in argentina has strong fundamentals and, of course, this is a bit of jawboning, given we have had these record lows for the peso ever since macri went to the imf saying they needed faster disbursement of the monetary aid. we have seen a destruction of investor confidence in this economy. ramy: all right. continue this conversation because our global economics and policy editor has been washing. to theay, an 8% drop peso. today it is 12%. kathleen: at the least we can say went from bad to worse. and, given that, yes, many p

like berkshire, none of the firms are real investors they're depositors to of gigantic index funds that and buy and buy. they don't seem to ever sale they just buy and buy and buy. why is this so important because is there only so much stock to go around bull markets live on supply and demand these index funds soak up supply apple and goldman sachs continue to buy back their own shares apple at 6.4 billion shares in 2013 five years down to 4.8 billion goldman, 471 million shares, now 377 million. and they did that with the federal government constraining their ability to repurchase. can you imagine what goldman would do with all that cash if they were allowed to buyback put them together and you have a genuine stock shortage which stacks the deck longer term to favor the bulls. of course, if the fundamentals are bad, none of this buying power matters. but we've just seen time and again if the business is good, stocks go higher meanwhile, business is bad and often activists will take a position and help the company turn around. the stock shortage caused by buybacks and index funds gives

>> leslie, thank you leslie picker back at headquarters berkshire hathaway, upping its apple exposuredo you agree with that? >> absolutely. it makes total sense he's bought into the right idea. he's seeing it in wearables and services my gut tells me elliott's buying puts to protect the position i don't think it's negative. she talked about that, as well to me it makes a lot of sense. why not? s volatility is extremely low right now. buy protection, own it and that's a great trade >> facebook, yeah. facebook and google are two names that i love and i would continue to like so i agree with that, and snap chat and twitter are two names i would sell aggressively and it lines up the ducks with these guys. >> i don't have any ducks or anything, but a couple of gooses i like the idea. >> you mean geese? >> no, gooses. >> it's geese. >> whatever. we get your point. what was the point anyway, the one trade i do like is the hedge exactly what pete said on apple, and being somewhat cautious on the macro picture here and why not put some protection on at the very least? >> i'll make a little foi

warren buffett's berkshire hathaway said operating earnings rose 16.7%.hat is as insurance operations recovered. it may have been noteworthy for what it did not contain. more on when or even if it will buy back shares. taiwan semiconductor manufacturing is recovering from a debilitating computer virus. it has warned of delayed shipments and reduced revenue. the taiwanese company which makes chips for the iphone said 80% of the fabrication tools affected on friday evening have been restored, and it expects full recovery today. it did not specify which customers would be affected. merger would become the world's largest industrial gas producer. it is facing an unexpected hurdle from the u.s. antitrust -- a company to sell more assets. they noted a likelihood a merger -- higher than outlined in be merger deal. the global cohead of its trading arm. andmberg has learned american-based in london would run the securities unit. while the cohead of the division 2014, twohere since resigned in june and were not replaced. a representative from goldman sachs did not

berkshire hathaway has added to its holdings into warren buffett's favorite sectors, banking and aviation. it boosted investment in goldman sachs, and southwest last quarter as part of a shaft -- strategy to shift its stock portfolio. brookshire -- -- it has moved on to apple holdings. global news 24 hours a day, on-air and tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. thanks very much. juliette saly in singapore with your world national news headlines. asian stocks fell, treasuries rose, the dollar climbed to a 14-month high as risk appetite is tested by the turkey induced turmoil. china's yummy fell to the lowest toce may 20 17 -- yuan fell the lowest since may 2017. mark cudmore, the dollar seems to -- the dollar rally continues, let's say. there is debate about where it goes from here, but we saw an interesting note from credit suisse saying maybe the fed will stop producing its balance sheet at the end of the year because of burgeoning debt and a huge supply in the treasury market. what do you think about that ide

in the afternoon, we will be speaking to berkshire hathaway ceo warren buffett.t interview this afternoon. it is one you don't want to miss. next, we will have "bloomberg surveillance." on bloomberg radio, we will speak with maximilian kunkel. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and

chairman atbuffett, berkshire hathaway speaking to david westin.inutes from the start of the european open. let's talk about stocks to watch. looking at old mutual. michael is covering with bread. -- whitbread. annmarie hordern on the carmakers. announced aal special dividend on top of the $.45 they did it -- dividend it was planning for the first half. it is one rand, 0.0 seven cents -- .07 cents. but it sparks a dispute. ad mutual was involved in four-way break up this year as it separated from its london-based parent after 20 years. guy: ok. interesting angle on all of this. let's talk about what is happening with whitbread. this coca-cola story, fascinating. decided toitbread sell costa for 3.9 billion pounds to coca-cola. this is a huge deal for whitbread on the because they were under pressure from activists to divest costa. comparison, starbucks is currently valued 13.8 times. whitbread said the majority of proceeds will be returned to shareholders. no doubt investors will be pleased today. guy: what are we looking at with the car sector? he

moving and mediating between two musical worlds but the campus project is a challenge for him to the berkshires know who he is where it's over of course the workshop is part of the project so we want the result to be more than just the presentation of workshop results we wanted to be a work of art music and art the second that we will have a lot to explore in various phases right now we're in the experimental phase he said to get out the experiments to fasten. seat expect to know that there are some things which we lack in all of you don't have in us that we can indeed get from this this part of the culture there we're just reading the music that's it for me that's important but what i what it's utopia are you doing what's good for me it's being the music is the main thing. on day three the workshop gets down to business so ishtar workers here he is a living legend in india the master tabla player has taught hundreds of percussionists of many different nationalities in the west some call him the beethoven of the top down hard she was one of his students. you know that's the way she said because

these have actually berkshire hathaway has been holding for quite some time has just in creased the size and they did decrease and dispose verisk and monsanto, but i want to focus on a few other big names that popped up a lot of filings let's start with spotify you're seeing an increase, george soros buying into spotify like i mentioned, other big names satya nadella is nvidia, a used car e-commerce website and their stock has gone up 189% year-to-date, and last but not least we'll end on this tesla. two major companies sold off tesla, fidelity investments and t-row price group sold off more than 20%. ashley. ashley: i almost ran out of paper on all of that. i've got facebook, apple, twitter, blackrock, bank of america some very good tips in there. >> you wrote it all down that's amazing. ashley: i'm going to put my $ 9.50 to work. >> we may not be as wealthy as them but at least we can start to play like them. ashley: yes, lacking some zeros there. no kidding no kidding, but very good information christina appreciate it thank you very much. >> thanks. ashley: the closing bell ringing in

filings we saw and he says they've bought back shares of berkshire hathaway back to you in the studio. >> the interview took place a couple of years ago -- couple of hours ago and you're still at the bar there. >> do you want anything, ty? >> i see the titos behind you. bring me one on the rocks. this is his birthday and he is how old again? >> that's right. he's 88 years old. he mentioned he bought his first stock in 1942, citi services that's going back 66 years he has been buying stock over that entire time 88 years old today. >> and as sharp and with it as i can remember i mean, he is an ageless soul. i'm going to have a cheeseburger and coke. >> yeah and bringing stuff back for you, ty. >> becky quick, thank you very much >>> buffett still likes stocks over bonds, nothing new there really will fears about the emerging markets derail this rally? let's bring in andrew slimmen with morgan stanley investment and samantha roe, with jp morgan ets. we got the morgans covered here, samantha and andrew. andrew, i want to bear down with both of you on particular items i have in my notes yo

modern recently written sold me send the berkshire to miss and. shouldn't this be as is it hawkesby little zero zero council or was it all come to. this is this is the stick by that the mug shots the catalyst come to understand their call someone trust counter pressing and direct passing this is my father is known for in france however he formed created able to mourn the ball that found gaps in defensive lines. the new season could be a good one from black and yellow. there has been positive development cards i need a minister but the really good challenge remains a lot of it takes time and success and what was said or wrongly chances jumped over probably. they should come right. back to the future with. what you want to hear more of the work where is the one. exactly there it is you. will be helpless will come and. live through one big events below from. the world cup that was. heard here for. our world cup all the big league. champions league. women's league. it's not only a ball it's life it's like it's supposed to if you want to know from you

a boost for warren buffet's berkshire hathaway. profit almost triple the same time a year ago. buffett's conglomerate runs and has stakes in businesses that range from railroads to retailers such as dairy queen. it improved its business in the insurances by and the broader health of the u.s. economy. >>> as we reported job growth remains strong. in fact, the u.s. is on pace to add 2.6 million jobs this year. the majority of job gains, 58.5% increase ending in may were in counties that backed hillary clinton in 2016, according to the "associated press." and a striking number of counties supported president trump and smaller towns in the country's city and interior are losing jobs. >>> meanwhile the cranberry industry is reportedly investigated crushed by the trump administration tariff reliefforts about a third of u.s. cranberry production is exported. >>> and tom cruise topped the movie box office for a second week in a row. >> you have a terrible choice to make in berlin, one life for millions. >> "mission impossible: fallout," th

berkshire has moved into apple and other companies. ethereum'shis -- co-founder has said the growth in cryptocurrency was a bubble and the market is stronger for it. it is not unexpected and we do feel it. we feel the exponential increase in activity and it is overwhelming. day onal news 24 hours a air and at tictoc on twitter. this is bloomberg. a big dayit could be for tencent for better or for worse. the chinese tech giant reports earnings and we could see the biggest stock move since 2015. a first half where the company has lost more than 150 -- one fd -- $150 million in value. is bloomberg's asian text editor. tencent another companies in trouble? >> it happened earlier this week taketencent was forced to a game called monster hunter office download list which sparked a selloff. -- called monster hunter off its download list which sparked a selloff. this coincides with a by thedation of power president. there's been a reluctance to allow games to go out that have graphic violence and other sensitive topics. that has put the brakes

. >> also, you sold to berkshire hathaway and started another company, same space-ish.mazing track record. >> wheels up, trying to be more netflix to net jets, more of a subscription model, five years in, really excited, i would say we're proof that anything is possible in america. >> well, good, yeah, that's good to remind ourselves, especially in these days. so, tell me one thing you have learned. >> i learned that you can't be scared to pivot. no business plan, i know in your business, j.j., and the people you interview, the people that really hit it are the ones that can move. there is no straight-line in business. you got to pivot and i think if you don't pivot, you are just too hard core to your original plan, you're not going to get to the rainbow. the gold at the end of the rainbow. >> what was your scariest pivot? >> i wouldn't say any of them are scary. it is more scary not to pivot. but i think in our space, you know, we were focused on the 25 to 50 hour flyer at wheels up. i think the real magic in the space is the zero to 15 hour flyer which is the enintere

investigation‘s under way into claims a cadet was waterboarded at the sandhurst military academy in berkshirellegedly pinned down a fellow recruit and poured water over a cloth covering his face. thousands of people have attended a state funeral in italy for some of the victims of tuesday's motorway bridge collapse. the archbishop of genoa told mourners the tragedy had created a deep gash in the heart of the city. some families reportedly stayed away because of anger at the government. the number of dead has now risen to a3. from genoa, james reynolds reports. the campi corniglianese amateur football team came to this state funeral to mourn their youngest squad member, 22—year—old marius djerri. translation: we are very sad for him and his family. he was one of us. we are bitter and angry. these thoughts charged much of this ceremony. some families, angered by the collapse, decided to hold private burials instead. families, politicians and members of the public have come together here, but a single ceremony won't be enough to resolve the profound arguments over the collapse of the bridge. ita

investigation's underway into claims a cadet was waterboarded at the sandhurst military academy in berkshireown a fellow recruit and poured water over a cloth, covering his face. 0ur correspondent keith doyle has more. we do know that the ministry of defence has confirmed that an investigation is under way into the incident that happened at the royal military academy on august 7th. as you say, the sun reported that two officer cadets held down a recruit and poured water on a cloth covering his face to simulate drowning. that is an interrogation method that was used by the us military and banned just under ten years ago. a statement has come from the commander of sandhurst, brigadier bill wright. he said he was aware of the allegations. he said, "i have ordered an investigation by the royal military police. the army and i expect the highest standards of behaviour at sandhurt and anyone found to have fallen short is dealt with robustly including dismissal." the number of children and young adults in england and wales with type 2 diabetes has risen by more than 40% injust four years, according

from hampshire, berkshire towards kent and up into east anglia, some hit and miss downpours and thunderstormsin in a short space of time. hail and gusty winds but some places will stay dry. further north and west a quieter night to come, some clear spells with a scattering of showers and cooler fresher field clear spells with a scattering of showers and coolerfresherfield in the. towards the south—east still some residual warmth and humidity. into tomorrow, all of us feeling the change. this cooler, fresher air sweeping its way across the country. there will still be spells of sunshine with cloud floating around. showers most likely across western and northern areas. one or two heavy showers. look at these temperatures. no more 30s in the south—east. another fresh day on thursday with sunshine and showers for most. there isa sunshine and showers for most. there is a chance we will get this heavy rain in south—eastern areas. much—needed rain at that. 17—21d will be the top temperatures by this stage. then we head towards the weekend and it's all about this. low pressure which wouldn't look out