know since i'm saying he wanted to pull apparently some cigarettes some to drink so i go into the berkshires i come out this do sit in a car and a truck and i'm like what's going on and it's always like it's cool america at this time like. a man when you talk right so i get into the car and i drive off. and he follows me when i play roscoe what are you doing. he said we need to get rid of those car. that's ok we'll just he said well you know this is give us a kind of green now i never heard him friends i hope every i never seen hundreds of every again i was inside the group showers which the police never went there and interviewed anybody conveniently they never talked to him are fact in evidence you see the photos of berkshire's part of that there's a sub gas station a small gas station and you'll hear nice days i'm sure you've seen these big shopping centers they've got low gas stations in the parking lot yes there's one like that at the berkshires there's a little gas station right there they never talked to the clerk why i don't know i mean the police never there ever investigated a cros

let me get back to berkshire hathaway, buffet is making berkshire hathaway investors a lot of money right now. of course the stock is now above $302,000 per share. it's on track for its best day since september of 2011 after the company loosened its policy on stock buybacks. so there are no more restriction s on when warren buffett and his vice chair charlie monger want to buyback the stock. very good news for shareholders because the move will allow the legendary billionaire investor to deploy more of the company's $108 billion cash pile pouring it back into the company. up next, the one, the only, the floor show and our super star traders. wow what an interesting day already so far. we are coming right back, 47 minutes before you hear that closing bell ring. liz: so you think there's a freeze in trade talks with mexico, the pane union, the united kingdom, positive news on the trade front the uk formerly signaling that the united states is at the front of the line for a free-trade agreement following the uk's exit from the european union but also there's a date on the calendar, july 25 f

shopping centers they've got low gas stations in the parking lot yes there's one like that at the berkshires there's a little gas station right there they never talked to that clerk why i don't know i mean the police never there ever investigated the crossing they just i mean they would pay for it what happened next they just drove like three weeks later took pictures of the parking lot sale weeks later three with the ice all they did there's no police report there's nothing they never investigated they never talked to a store clerk they never issued or media release asking anybody seen any witnesses they were based out of my kidnap them and that's all they ran with so we stopped we're called upon to oldfield's things a lot of. money and sam are talking clint's walking back forth on here the trucks like this the truck. that's walking back for their man samurai here about the time you hear sars and you've got to try to place. with page. three of. first there. there are no as you noted good or are there. but the player. page for us here. for transpired kid. how did you know about if you were h

shopping centers they've got low gas stations in the parking lot yes there's one like that at the berkshires there's a little gas station right there they never talked to that clerk why i don't know i mean the police never ever investigated the crime scene. that is i mean they would paste what happened as they just wrote like three weeks later took pictures of the parking lot sale weeks later that's three weeks yes all they did there's no police report there's nothing they never investigated they never talked to the store clerk they never issued or maybe release asking anybody see any witnesses they were based out of my kidnapping and that's all they ran with so we stopped we're called upon to oldfield's things upon them now he had a lot of. money and sam are talking plants walking back and forth on here the trucks like to test the truck. that's walking by for the iron man samurai here at the time here sorry sam you got to die trying to place. right now. with paige i know for a mystery because they are very very very good. hero as you know who's very far. the. thing they say. but this. playe

know since i'm saying he wanted to pull apparently some cigarettes some to drink so i go into the berkshires i come out this do sit in the car and a truck and i'm like what's going on as long as i it's cool man this song like. a man when you talk right so i get into the car and i drive off. and he follows me when i play ross what are you doing. he said we need to get going to do those core . that's ok we'll just do he said well you know this is give us a kind of green now i never heard him friends i'm a patriot i never seen hundred same of every again i was inside the group showers which the police never went there and interviewed anybody conveniently they never talked to him are fact in evidence you see the photos of bush are part of that there's a sub gas station a small gas station and you'll hear nice days i'm sure you've seen these big shopping centers they've got low gas stations in the parking lot yes there's one like that at the berkshires there's a little gas station right there they never talk to that clerk by the i mean the police never there ever investigated the crime scene they

liz: berkshire b shares, what have we got? what is the pe? >> pe for berkshire is 15 times.t richer than the others. what we like about that in terms of sum of the parts, monger and buffett assembled, strong operating companies. competitive advantages. strong balance sheet. over 100 billion in cash on the books. liz: people should mark their calendars. august 30th, i will interview warren buffett one-on-one in new york. we'll talk about that. he never split the stock. the a-shares are 300 grand. they're certainly in the stellar stars up there. but do you ever think about life after warren buffett when he is no longer running the company? does that concern you as a shareholder? >> i think it does. that limited valuation to some degree. buffett turns 88. charlie monger is 94. there is rick of passing on. i don't think anyone can replace investment acumen and ability. we think discounted intrinsic value is quite strong. liz: lots of cash being made at company. lovely to have you, mark. good ideas all around. we'll put emup on facebook.com/lizclaman. dow industrials closing at h

up next, you can certainly call berkshire an all-american company, but the companies you see on youreen, of course they are too, right? from apple to ge to goldman sachs to mcdonald's they all share one very special trait even though they're all from different businesses. the co-chairman of lowe's corporation, he's put it altogether with the back stories of some of the biggest business successes in american history, you've got to hear it. countdown is coming right back. but i have... big dreams... and big plans. so how do i make the efforts of 8 employees... feel like 50? how can i share new plans virtually? how can i download an e-file? virtual tours? zip-file? really big files? in seconds, not minutes... just like that. like everything... the answer is simple. i'll do what i've always done... dream more, dream faster, and above all... now, i'll dream gig. now more businesses, in more places, can afford to dream gig. comcast, building america's largest gig-speed network. you're trying to lower your very hwith a healthy diet... and exercise. and maybe even, unproven fish oil suppleme

brought by sir cliff richard against the bbc for the way it covered a police raid at his home in berkshiresir cliff, who denied a claim of historical sexual assault, was questioned but never arrested or charged. we'll bring you that ruling when it comes. sexting and not drinking alcohol — does this explain why teenage pregnancy rates are at an all—time low? 16 to 18—year—olds spend more time on social media and are more family—orientated, according to a report out today. and i meet finn the police dog, who was stabbed through the chest and the head with a ten inch knife while chasing a suspect. finn and his owner are pushing through a change in law that will see police dogs and horses given the same status as serving police officers. to see him go through that, being laid on the vet's floor, watching him fade away and then for his offender to be charged with criminal damage, as if he was an inanimate object, was very hard. hello, welcome to the programme. we're live until 11:00 this morning. are you a teenager? maybe you're pregnant or a teenage mum. what do you think is behind the sharp f

this was the scene on saturday afternoon in berkshire, beautiful blue skies and just a little bit ofnd, not spoiling the sunshine. notjust through sunday but in fact over the next few days and much of the week ahead, things are set to stay largely dry. when it is a more about strong sunshine around as well. we start out by looking at the satellite image from earlier today. more cloud creeping in from the north—west. for much of the country it has been a bit of patchy, fluffy fair weather cloud. the rest of the night, we still have that cloud across parts of the north—west of scotland. a little bit creeping into northern ireland. clearer skies further south, and the odd misty patch first thing on sunday morning. again, quite humid and muggy. those temperatures staying in the mid or high teens, a bit cooler around some eastern coasts, with the breeze just coming in off the sea. high pressure holding onto our weather through the day on sunday. a weather front sitting in the far north—west. that will bring a bit more cloud to north—west scotland. one or two spots of drizzly rain coming o

that is why the partnership announced between amazon, jpmorgan, and berkshire health care -- berkshire hathaway is exciting. if these three large companies can use their scale and technology to create real change and move to a value-based payment, it could help nudge the system forward. a change i hope is also coming is the integration of spending. that between pharmaceutical benefits and medical services, rather than managing them in silos. so the recent mergers of cigna do percent aetna opportunity to break down that silo and compare the benefits of technology directly to medical service. if on a large scale, employers and payers demand value, i'm sure our industry will find a way to deliver. so let's all work to create this future together. i think we can all agree patients are hungry for it. patients like marie. ashe is getting value-based care because her doctor is part of risk-based contracts that reward him financially when he keeps her blood sugar under control. marie is empowered because -- her insurance plan offered upfront coverage for continuing glucose monitoring. marie is

also the isles of scilly, devon and cornwall, but we could see some in hampshire, berkshire and dorsetst towards bristol and south—east wales. generally, we're looking at the low to the mid 20s. some of us seeing the high 20s. but a lwa ys some of us seeing the high 20s. but always fresher on the coastline. temperatures here 16 to 18. more cloud tomorrow in eastern scotland and northumbria. temperatures eight in aberdeen, but generally in double figures. it will feel fresher in the south than the night that has just gone. tomorrow starts with a lot of sunshine. still the risk of a shower in the south—west and the isles of scilly and the west of scotland. but thatis scilly and the west of scotland. but that is about it. tomorrow's highs will be 27 or 28. down a touch on today. but still that is pretty high. the outlook right to the weekend is largely dry, just the risk of a shower. thank you we have having a discussion. how to keep a tent cool in the... it is a good, practical discussion. it started with looking at the queues at wimbledon. people were staying in tents and it must be hot

marc, we talked about this a little earlier it's interesting not only what it means for berkshire inms of their judgment where they see berkshire shares in the stock market relative to other class markets. this has been a formula they put in place for awhile. it kept a ceiling on things. but at this point, they're probably looking around saying you've got to find places to put your money it's been harder as the market has gone up. >> i think they're saying should we invest with ourselves because we think we're probably the best company out there and i think you're finding that in the market. i mean, the market keeps moving higher people don't understand why it keeps moving higher. and sort of where are you going to put that money? i think for someone like buffett, it's let's just try to re-invest in our company which actually to me seems like a signal that you seem to be at the top. >> okay. >> we are going to continue that conversation just a couple of other headlines to bring you this morning. texas instruments ceo brian crutch crutcher, he has resigned. chip maker says that crutch

the singer took legal action after the bbc broadcast footage of a police raid on his home in berkshire inquiry into an allegation of historical sex abuse. sir cliff was never arrested or charged. a judge at the high court awarded him £210,000 in damages. thousands of tributes left by the public to remember those killed or injured in the manchester arena terrorist attack are to be preserved. more than 10,000 items were left in locations across the city in the weeks after the suicide bombing, including notes, poems, balloons and drawings. they'll be documented and digitised at manchester art gallery, thanks to a £100,000 national lottery grant. the time is nine minutes past six. we will get the weather and talk about perhaps those record temperatures that some are predicting we might see in the uk. if all we need to talk about getting hot and sweaty while cycling. the picture over your shoulder, that man is looking hot and sweaty with good reason. geraint thomas still in the right place to win this geraint thomas. every day, we have said there is one stage to go. today they will get to a

have a guest in a parking lot this wasn't always car right and i was over and i got out when assad berkshire's and i got this fright the sunflower seeds and the buy one get one free pack of more cigarettes are come out and that's when page was already in the truck . and its truck with a tree yes and so when i seen a situation i recognized it was something that was what was the situation he was there while he was in a drug he was on. they said there is also my right and they train was there ever was another passenger seat. and so i looked over at my man i was up and he said when he said when he had no vehicle and so i was like man come on i hopped in a car took off right. amount of time to this second murder and went to sleep and. jumped out of the truck and i say no i want persons down there are very brave why i asked him why he sued them and he said he knew my name in are they just right and once a male petri. dish. that took a toll on me because i'm white and this doesn't tell me i have family i mean this is the type of man that i was raised to respect it's now i said there a shot i can't al

have a guest in a parking lot this wasn't always car right and i was over and i got out when assad berkshire's and i got this fried the sunflower seeds and the buy one get one free pack of more cigarettes are come out and that's when page was already in the truck . and its truck with a tree yes and so when i seen a situation i recognized it was something that was what was the situation he was there while he was in a truck he was on. he said it was only right and they treated their adventure with it in the best i see. and so i look over and i'm like man i was up and he said when he said when he in the vehicle and so on i was like and. hopped in a car took off right. by the time on to the second murder i went to sleep and i just awful. i jumped on the trot and i seen a lot of one person stand there very wise from what he says and he said he knew my name ages bribery and one samuel petri. dish shot. that took a toll on me because i'm like and this doesn't own i have a family i mean this is the type of man that i was raised to respect it and now i sit in there a shot and i didn't or even my codefe

the first day on the job for the man in charge of that health care phen viewer formed by mazon, berkshire hathaway and jpmorgan chase. his goal, nothing short of bringing costs down, and changing w health care ase know it. meg terrell has more. >> it's tall order, fix health care not only for the 1.2 million employees for amazon, berkshirewa hat and jpmorgan, but also aimed to create better blueprints nationally. even the name of the company isn't mean. they've been referring to it as abj for its three founding companies. its independent, based in boston and not for profit. some is known about the enterprise's mission. and for recent speaking ewpearances and previously writing in theorker and elsewhere, there are clues about how th accomplish it.e to the goals, they spell them out recently at a cnce in aspen. >> i get to have a million patients that i as a doctor get to add to my responsibility. and my job for them is to figure out ways that we're going to drive better outcomes, better ictisfaction with care. and better cost suncy with new models that can be ink baited for all.al >> that

he is giving way all of his berkshire hathaway shares. this is 17 million shares.nt to the bill and melinda gates foundation, one named after his first wife, and each of his children's foundations. $31 billioned about to the foundation. resigned chairman has in the engineering conglomerate. afterecided to leave realizing they did not have the confidence of the majority of shareholders or the supervisory board. this asked to a leadership vacuum after someone else quit earlier this month. distributed money to its teams, up 5% from 2016. best according to financial disclosure by the green bay packers. consequencesancial to the turmoil of the last season, which included public criticism from president trump. the senate polarized fans across america. that is your bloomberg business flash. netflix shares plunged after disappointing subscriber growth for the second quarter. the largest paid online tv network added 5.2 million users. that was about one million fewer than predicted. alex joins us. what is the problem here? are people piggybacking on other accounts? is it co

that the corporation breached the privacy or sir cliff richard in coverage of a rate on his home in berkshiret wanted permission to appeal because it argues the judgement could threaten press freedom. it will have to decide whether to take the case to the court of appeal. the corporation agreed to pay £850,000 to cover the legal fees sir cliff richard has incurred. let's have a look at the headlines on bbc news. the temperature reached 35 degrees this afternoon at heathrow and hotter in surrey, making it the hottest day. medicinal cannabis will be legalised on prescription in the uk following the high—profile cases of children with severe epilepsy being denied access to canada's oil. and as we have just been saying the bbc will pay £850,000 to sir cliff richard's legal cost of following his privacy case. the official vote leave campaign spend more than 2.7 million on ads targeted at people on facebook to help it to win the 2016 european union referendum. the us social media giant has released these ads two mps on fake news, meaning everyone, not those that they were aimed at, can now see them

and i'm joined by steve crump, in woodley in berkshire — he's had problems with his smart meter.en did you get your smart meter installed ? experience, diane. when did you get your smart meter installed? about two years ago when it first became available with my supplier. you will quite keen, why? i liked the idea of being able to see what power and actually using, and gas, and being able to check whether the bills they sent me correspond to what i actually use. has it made a difference to your usage of energy, would you say? it has, in a way. i'm aware how much the tumble dryer costs. so, i boughta aware how much the tumble dryer costs. so, i bought a dryer that... a heated air dryer, which saves quite a bit. but other than that, not really. so you might not have looked to an alternative to a tumble dryer if you haven't been able to see upfront just how dryer if you haven't been able to see upfrontjust how much those springs were costing. probably. what about this question of the bills and the accuracy. 0ne about this question of the bills and the accuracy. one of the things the

brought by sir cliff richard against the bbc for the way it covered a police raid at his home in berkshireling when it comes. sexting and not drinking alcohol — does this explain why

to charityett gives and changes at berkshire give him even more. >> hello. ais is daybreak and we are couple of hours away from the open at the asian market. --it is just past this playsk at how into the asia-pacific trading day and we got a lot of different crosswinds here. we have morgan stanley beating estimates and jay powell was in the second day of his testimony in his annual report with an of upbeat sentiment and there is still a specter of trade tensions, with no new headlines, sentiment.eighing on >> there is a question about the new normal and the absence of negative headlines could be enough for marcus to trade higher. ve betenu.s. banks ha estimates. >> this is something to look at. .22%ee the s&p 500 is up days in a up five row. at its highest since february 1. the nasdaq is flat, but we did see a pop, but some pullback there. spot was upg-dolalar and it is up there. anderms of new york crude brent crude, it is a surprise, even though we got the surprise inventory build as of last week. the reason for this is that surprise draw down that landed

this was the picture on saturday afternoon in berkshire.s, more strong sunshine and for most of us it is looking drive. if you are crossing your fingers for a bit of rain for your garden you might be disappointed. you can see that fair weather cloud on saturday that fair weather cloud on saturday that was bubbling up, a bit more cloud pushing and across scotland and northern ireland as well. we will keep that cloud in the north—west. clearer skies further south, but wherever you are it is a hot and muggy feeling night, fairly uncomfortable, with those temperatures staying in the midteens overnight tonight. a little bit cooler for some parts of eastern england first thing on sunday morning. sunday starting off on the dry and right note. looking quite humid and muggy. largely dry down to this big area of high pressure taking hold of our weather. this front is sitting in the far north—west, which is likely to bring more cloud and a few spots of rain to parts of scotland and the far north—west, possibly catching alight shower. a small chance of

where he gained more than 3 million dollars to charity, he added $4 billion to his fortunes after berkshirey listed buybacks. shares rose the most in almost seven years, listing -- lifting his fortunes to $83.5 billion. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 2700 countries. i am tom mackenzie, this is bloomberg. positive today, generally speaking for equity markets in this part of the world. sophie: positive day, indeed. spi adding over 1% in singapore. we are seeing properties gaining ground, surging on a privatization deal. we also want to highlight chinese stocks. there helping a three-day drop. the yuan is extending losses. seeing shares in australia gaining .4%. oferial stocks given some the tariff outlook. also want to highlight the aussie dollar jumping, while using some of its advance. came in jobs data stronger than forecasted after contracting in may. we saw the aussie hit a session high on the back of that. 50,900 jobs added for the month of june. to add what is happening with the yen. we see it

corporation breached the privacy of sir cliff richard and his coverage of a raid on his home in berkshiregised to sir cliff for the distress calls, but wanted permission to appeal because it argues thejudgement permission to appeal because it argues the judgement could threaten press freedom. they will not have to decide whether to take its case directly to the court of appeal. the corporation has also agreed to pay £850,000 to cover the legal fees for sutcliffe, that sir cliff has incurred. lucy manning has this update from outside the royal courts of justice. the bbc got a sense today ofjust how big the bill is he is facing for losing that case against the circular for last week. the total bill so far and it is going to rise significantly, is £1.5 million. £850,000 of fat as you said, is to pay sir cliff richard for part of his legal fees. the pay sir cliff richard for part of his legalfees. the bbc pay sir cliff richard for part of his legal fees. the bbc also tried and failed today, to see if it could get permission to appeal the judgement. thejudge did not appear massively impressed

we have one bellybutton for these two meet with all of the stakeholders associated with a berkshire meantan end item -- procurement of an end item. shery: how does the city of austin achieve the things you have mentioned? >> we developed a formula or what we needed and that type of footprint, the type of culture. an outside firm helped us put a formula together and we brought in a federally funded research to validate this one in the. -- this formula. place withge density talent, entrepreneurial investment, accessibility to the footprint, and can help us get closer to academia and business. shery: it is no secret that taxes is well represented on the senate and house defense committees -- texas is well represented on the senate and house division -- defense committee, what was a to stop this from?-- political considerations >> with close ties to austin recuse themselves and a small group of people who work directly for me and we follow the data. we developed a formula with quantitative analysis. austin scored the best in all of the criteria. kevin: you went everywhere. in philadelphia, yo

live in theo berkshires and a house almost directly across the street from theodore's own. was one of the few politicians who remained a trusted friend of both men. that is why hamilton was writing to him. we will get back to that letter but taken out of context, it may seem tangential and wildly overblown. it is likely to defy expectations as to why hamilton crossed the hudson at daybreak and faced his doom. in a few choice sentences, hamilton offered a better explanation about his part in the dual and a better prediction of what would become of him than any other single document. i have always been interested in the letters of a dead man because hamilton writes the letter, crosses the hudson, gets shot, comes back and dies the next day. what happens to the letter? who mails it? how is it mailed? when theodore gets it, does he know that this has been written by a man who is now dead? which news travels faster? we do not know the answers to any of these things except we do know that theodore never responded to the letter and there was no one to respond to. when earlier memb

but i think the whole sector was inspired by berkshire hat away, hosting its best session in almost 7 company admitted its buyback program. they have a new flexible system now that allows them to buy the stock and higher valuations. this brings up the debate over how businesses are using their new tax rates. we should keep in mind this money, whenever we talk about it, it's earnings for corporations. however, there is evidence that cash is going to show stock bye backs. corporations hat $165 billion in buybacks. but the cash is being used for capital expenses. that represents a large financial investment. coming into the year manufacturing companies were forecast to hike their cap x now it's 4%. in the last 30 days we have seen the market stumble out of june and surge into july. utilities have been the best performing sector. the two sectors i love the most of, industrials and material names, i think they represent huge value. granger, i think it was the stock of the session. they beat the street by 5 cents. they do business to business of maintenance repair and operating systems. the

stages of montization in waymo of the companies out there, alphabet has the best shot of being the berkshire of tomorrow. >> wow they are most certainly u 2. the dialogue around youtube not that long ago was about how, you know, the copy they got rid of that now we also see there's been a lot of money on people but you're beginning to reap the benefits of people that's not what we're used to hearing. >> they added 4,000 employees during the quarter. >> smartest people. >> for a moment, though, i want to focus on cap x. i think it's worth noting that google now spends more than at&t or verizon on capital expenditures they're at a rate of around $21 billion. they spend $5.5 billion and continue to save for it again. talking about it our commitment to growth is evident. the ongoing trend in cap x investment they've been investing in search and ads. really, they're building the cloud, the computing power they're putting up new facilities all the time. they're, obviously, investing sizably in what you need in terms of youtube to support that the power they're putting out there and machine learnin

the s&p down just a fraction on the news, whether it's berkshire hathaway or -- >> let's get you up to speed on what happened. european union fining the company $5 billion over it's android dominance. and it breaks antitrust rules. a google spokesman responding to the fine says, quote, google as created more choice for everyone not less, a vibrant ecosystem are hallmarks of a -- we will be speaking with margaret vestager. it's been an eight-year long antitrust investigation, this is the second big fine, looking forward to speaking to her in just a few moments >>> in the meantime, fed chairman jerome powell in the hot seat again today taking questions from the house financial services committee what can we expect today >> if yesterday's testimony of the fed chair and the senate had a taste of partisanship, today's meeting should be full flavored. the subject should be deficits and the trade controversy. powell was able to stay in his lane powell had heard that the some people were suspending trade on tariffs. >> in general, countries that have remained open to trade, including tariffs,

berkshire rose, ktvu fox 2 news. >>> turning to a lighter note.oday, musical filled san francisco golden gate park it is the annual botanical gardens family display. there are 12 pianos scattered throughout the ground for anyone to tickle the ivories. there were also be scheduled professional performances through july 16. i expect you to head out there. but even people who cannot play. >> they definitely do not want to hear me play. the botanical gardens are gorgeous. i love that. >>> let's check in to see what is coming in the next hour of mornings on 2. >>> when i join you we will welcome barbara lee to the studio this morning. the talk she is considering running for one of the top spot in a democratic party. we will ask about her intentions and what she thinks the democratic party needs to do differently in the lead up to the midterm elections. >>> if you've ever tried to cancel a substance and you know that you can spend a lot of time on the one 800 numbers that you have to call to do so. now, a new law is in effect. it should make it easier t

bill gates came in at number two and berkshire hathaway's warren buffett is the third richest personet... (grant) that wraps up kron 4 news at nine...(ken) but our primetime coverage continues at the top of the hour. here is what we are working on--on kron 4 news at ten.... protests erupt after the controversial summit between president trump and russian president vladimir putin. how people in the bay area are reacting... plus... a man in the north bay arrested for burglarizing tenants' homes-- and tonight we are learning the suspect worked at the apartment complex...now police are looking for more potential victims...(ken) and -- , tense moments today... how a mountain lion was removed from a peninsula backyard.(grant) don't go away...hour three of kron 4 news in primetime starts right after the k. <""what the president did, side with our number one enemy...is just appalling and demands some kind of explanation other than it's self-serving of the president.">(ken) now at 10 -- republicans and democrats openly criticizing the summit between president donald trump and russian presiden

amazon is part and berkshire hathaway. and prominent author and surgeon , a researcher trying to figure out ways to hold down health care costs. definitely interested in this area. not sure what they will do. that there is lots of speculation. host: we have lots of colors. to clarksburg, virginia. go ahead. i am on medicare. cost is ridiculous. i would like to give you an example. here problems with wax and stuff. doctor and he told me that they could no longer do that. that i had to go to a specialist. somewhere, ito costs me a fortune. takee to pay somebody to me and bring me back. they curb the curb. so -- [indiscernible] 83 years old. me very much.p room two the emergency months ago. $4000. me almost the emergency room was over $1000. guest: emergency room costs are astounding. coverage 24,000 -- 24 hours a day and sometimes they have trouble finding specialists. i hospital could be in the network and they finally get a huge bill from a doctor. firm --a private coverage -- m host: so this isn't a way for them to make a

>> it's time to go -- >> we should probably do a q berkshire a. >> want to read a passage isdue a q & a. >> skip it, i. >> okay. we should do q & a. don't want to read. >> okay. yeah, i can do a little reading. >> everything we have been talking about is gloom and doom but you finish the become on a positive note and offer very -- your manifesto, great ideas that seem very do-able and very tangible. maybe not under this administration but hopefully two more years. do you want to read this inspiring passage and then do q & a. >> our bodies are pourous, on so-and assimilating everything in our environment at once. we ever the onslaught of environmental chemicals that are toxic to all life forms we're asking our bodies to deal with a lot. we're not providing our bodies witch the necessary newt trents they need to be healthy this is a dangerous combination. we are also subject to the cultural forces that normalized industrial food and separate us from food production each oomph part of changing the way we approach our food system will intel change the wail we view or world that means work

we saw warren buffett talk about share buybacks at berkshire.to give us dividend growth? >> the question is what is your time frame. number two bank, on the buyback versus dividend, what you have to look at is not a buyback occasionally. we do companies that buy black stock every year and reduce the share count. those stocks have performed well. nejra: we keep asking people when this bull market might end. i just want to know what areas of the u.s. market are going to show the pain first, if and when that comes? >> you almost have to get into the mindset is going to be the .rowded large-cap tech names they have outperformed in a way that is remarkable in a rising bond yield environment. in the s&p it is 25% of the market, so probably the most exposed in that eventual downturn. likely toech is underperform because it is such a crowded trade. we are not sure what the next catalyst for upside surprises are. that is important. investors are very greedy. we want more and more and better and better. ,here is a great story today cybersecurity, virtuali

brought by sir cliff richard against the bbc, for the way it covered a police raid at his home in berkshireootball coach, who endured more than two weeks stranded in a flooded cave in northern thailand, are expected to leave hospital later today. their extraordinary rescue was followed across the world. once they are discharged, they will be meet the media at a press conference — howard johnson is in chiang rai. this is all heavily choreographed for the boys benefit. yeah, this is the first time they will meet the media since their ordeal and it will ta ke media since their ordeal and it will take place in this building at 6pm local time. it will be all across the thailand tv stations here, lot of interest. we can already see teams turning up to cover this story. what we have heard is that the tight media and the international media have had their questions vetted by a team of psychiatrists and they will be on standby during a press conference to make sure the boys that suffer any trauma when entering these questions. what we have heard is that the boys are in good health, we have seen them

charlie sharp and management team are trying to put underway, have the support of firms such as berkshireway. a little bit of pain now, quite a bit of pain now. hopefully gains in the future. scarlet: abigail doolittle, thank you so much. coming up, trump's tariffs. more of our interview with the chairman of the house ways and means committee. why he is urging the president to look at the bigger picture for moving forward. this is bloomberg. ♪ >> after the backlash with his comments concerning president putin president trump met with lawmakers to discuss the meeting. one of the members in that meeting was kevin brady. >> we think the president tried to challenge china. we want those to be targeted approaches. we think it is too broad. frank wally -- frankly sweeps into much of the economy and makes punishment here in america and our allies that are unnecessary. we're working with the white house to target -- more nearly target this issue. for the 100 house republicans have signed a letter basically telling the trump administration, look, you are asked to ask the question do we have a leve

the five charities as he continues making good on a pledge to give away all of his birth sure -- berkshire hathaway shares. the latest gift went to charities including the bill and melinda gates foundation, one named after his first wife who died in 2004 and each of his children's foundations. he has donated a total of $31 billion to the foundations. global news 24 hours a day on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. you can find more stories on the bloomberg at top . anna: thanks very much. let's get an update on the asian equity session with david inglis. mentioningard you msci asia and that is getting pulled higher by the session you see in japan which is reopening for the development there. you had the yen at the weakest level since january. the rest of asia is not looking too good. when you look at this. jpmorgan joining it. they are saying they be we should start looking at the risk from [indiscernible] not so much as a trade. the marketying that might be a little bit too complacent. ubs cut their forecast in

you cannot imagine him popping down to berkshire or are going to mar—a—lago. different people.re were reports that together and spent or even in talking to each other so they were well prepared and so on that level the special relationship is better thanit the special relationship is better than it was a few days ago. sebastian, fact check, i want to know if unit officially if they do share the same hairdresser.” know if unit officially if they do share the same hairdresser. i think borisjohnson share the same hairdresser. i think boris johnson probably get share the same hairdresser. i think borisjohnson probably get his hair chopped somewhere in north london and donald trump would be somewhere in new york. unless there is someone going across the atlantic, it may not be the same hairdresser but if you look at them, there is a certain similarity there. thank you for pointing that out, sebastian. he styles of the most important thing, aren't they? —— hair. here's louise with a look at this morning's weather. a little bit of rain on the way for some of the gardeners? thank fully

back and say danaher there was a time when people talked about this company as the second coming of berkshirey i'm still a fan and that's why we own it for my charitable trust which you can follow along with in recent years, though, the company's gone through a major transformation the old danaher was a lot less focused. but in 2016, they spun off their many different industrial divisions as whole new company since then both stocks have given you some remarkable gains. this is yet another reason why i'm such a fan of breakups while investors were always willing to give the old danaher the benefit of the doubt, it's just that well run, it's the fact that conglomerates pay a penalty when they're too diversified. why? very few investigators want to own an amal gags of health care company. when the company is roaring money, the managers prefer to swap out and buy the cyclical industrial stocks that can produce enormous gains during a major economic expansion but when the economy slows down, these same institutional fund managers swap out of the industrials and move the money back into the defensi

that's where berkshire shares are right now.he largest block went to the bill and ma lielinda gates foundation, others went to charities run by his children. after those donations, buffett will be ranked as the fourth richest person in the world behind jeff bezos, bill gates, and -- >> bezos beating bill gates now by $55 million. >> he's been making a couple hundred million a day. that's been pointed out in a snarky way, that supposedly his employees can't go to the bathroom i saw it on some website so buffett, the "squawk" gofundme jet program was not part of his -- >> i don't think that rateson his list of things >> he could write it off an old, used crappy jet. >> boeing business jet they got rid of those. >> i'll take a kim jong-un jet >>> coming up when we return, the reaction in washington to president trump's meeting with vladimir putin. >>> before we go to break, a look at yesterday's winners and losers ron! soh really? going on at schwab. thank you clients? well jd power did just rank them highest in investor satisfacti

but the bill and melinda gates investment side of the shop is on top of berkshire stock and make sureible in how they sell it it's incredible. bill and melinda gates and war run buffett. even though i smile i'm in charge of spending it, it's a massive responsibility we all take seriously so warren's generosity again last week when that berkshire stock is sold, we will spend it wisely >> before we let you go, you are on the board of facebook you saw the news of the reaction of the stock price after the earnings report. what's your take on how people have reacted to that >> well, listen. i'm really confident in management at facebook it's a very good board i've been on it for several years. i feel good about how management is overseeing the times we're in at facebook and feel really confident in the board and in the management team. >> and i don't know if you saw, there was an investor yesterday who called for the split between the chairman and ceo roles that mark has he is the single largest controlling shareholder of the company. what do you think of that idea from a governance perspe

in august 2014, the bbc reported on a police search of sir cliff richard's home in berkshire.investigation into an historical allegation of sexual abuse made by a boy under the age of 16. sir cliff richard was never arrested or charged. he argued the coverage was intrusive and an invasion of his privacy. today thejudge agreed. he never expected after 60 years in the public eye that his privacy and reputation would be tarnished in this way and he would need to fight such a battle. although he felt it necessary to pursue this case and the sum awarded in damages is one of the highest ever in this area of law, sir cliff's motivation was not for personal gain. as he knew all along he would be substantially out of pocket, no matter what. there was one point where i was already quoted as saying he was pretty well skin and bone at that time. but, you know, he has tremendousjoy about him anyway as an individual, he has tremendous tenacity and he was determined to fight this case. bbc reporter danjohnson had been told about the search on sir cliff's home by the police. in his ruling, th