crises the big boss at blackrock. will obamacare really cost millions of jobs?e a closer look at the new numbers coming up next. ♪ >> they with us. we will speak with the man behind the world passes most famous donut hub. streaming on your phone, tablet, and now, we are on apple tv. ♪ >> live from bloomberg headquarters in new york, this is "market makers." i am erik schatzker. we need to take you to washington right now because archie for -- washington correspondent peter cook has news for us, a spoke -- a scoop. what is the story. >> we are being told house with closedeaders doors up on capitol hill this morning have reached the conclusion they cannot ask the president to approve the keystone xl pipeline and they cannot also try to push through a ban on a particular provision within the obama care legislation that would have benefited insurance companies, and it had to do with risk corridors. they concluded they do not have the votes to try to attempt those as trade-offs concessions -- they are abandoning those and considering their options. trying to figure o

first with larry fink, chairman & ceo of blackrock. they manage more than 4 trillion dollars. >> the world has many issues and i do believe 2014 is going to be a harrier market. we're going to have to expect more volatility like we've had. but i do believe the net outcome of 2014 will be higher markets am but for most of our investors in the world we should not pay attention to these inner movements because if you are focus on a objective, an outcome of 30 or 40 years, these little market gyrations should not impact your overall needs to protect your retirement and build an outcome that will give you the nest egg. >> rose: we continue with a focus on one country, louis videgaray is minister of finance for mexico. >> we know mexico is bled by nature with an a bund dance of resources but we have not been able to shall did -- in terms of creating jobs an creating low cost energy for families and for companies there mexico, small, medium or large companies that is something that fortunate leigh we can change. >> the global economy from two

larry fink from blackrock. back in a moment. stay with us. ♪ >> pena has been talking about meria, which isar a special force with the civil command that will conduct what the military is currently doing, and that is also a big ticket item in the budget. >> luis videgaray is here. he has been the finance minister of mexico since the election of the president in 2012. the mexican economy has remained resilient during a turbulent time for immersion markets. drug-related violence continues to affect parts of the country. the government has started to operate with the vigilante groups. later this month, president obama will attend the latin american summit in mexico. i am pleased to have luis videgaray at this table for the first time. welcome. >> thank you, charlie. it is an honor to be here. >> you told me a wonderful mity, when you arwerwe at working on your phd, that our show on pbs was your companion for dinner. because you were living in a very small apartment. >> thank you for that because you are a great companion for those

blackrock would not have as much influence if they did not have a zillion dollars under management. the world we're living in. >> this is fascinating. thank you for coming in. >> thanks for having me. >> when we come back, a basketball treat. five in c aa titles. when it comes to educating the players, some students at north carolina have fouled out in a big way. that's next on "market makers." ♪ >> welcome to "market makers." i am erik schatzker. think classes. absent teachers. a database of recycled term papers. those are just a few of the circling the university of north carolina at chapel hill where some athletes reportedly read at a fourth grade level. we have the whistleblower here with us in new york city with j smith, a professor of history at unc chapel hill this morning. these need to understand allegations better and the facts underlying them. what did you find in your research? carolina isrsity of sadly a house of business, how college sports keep some top athletes. i'm talking exclusively about football and basketball. biggest scorers who bring in the most dollars to th

blackrock's chief explains why. another exchange from the virtual currency. in the fed, we have the new boss, the taper, this is a bloomberg exclusive. to the batcave, and in sports, shaun white is grounded. the u.s. loses its best hope for gold. business in washington, incredible. the house found another way to kick the debt ceiling can down the road. janet yellen has passed her initiation. what i really want to know is what was for dinner last night at the white house. >> there was ribeye for the main course. a dozen variety of potatoes around the country. >> i like it. a dozen variety of potatoes, seven wines, must be a very important dinner. ♪ ah, but of course, a state dinner. president obama welcoming a solo french president francois hollande. state dinners do not happen very often. the number has fallen off, look at that, maybe it has to do with the price tag. >> cbs found out these dinners can cost about $500,000. they got the information through the freedom of information act. >> that is enough to buy a house in virginia. this must infuriate the defi

so reider at blackrock is fast money even though they're managing a trillion dollars. part of their etfs in particular, whatever it is, is a big number, a lot of those are very much swinging the market when those etfs go into your point, josh, your point, steve. >> okay. >>> coming up, our call of the day has lululemon shares in the green but still down double digits on the green. the analyst who upgraded that name today and top tech investor who got in earlien on names like twitter, netflix, and kayak, what he thinks the next big tech i prk o will be. o will be. customizable charts, powerful screening tools, and guaranteed one-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and e-trade. i'm monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. call or click to open your fidelity account today. afghanistan, in 2009. orbiting the moon in 1971. [ male announcer ] once it's earned,

joining usrodriguez from blackrock.-we will hear from the role about the role of startups in germany's economy next. ♪ countdown.back to >> we are looking at germany through the lens of the startup scene. he caught up with the founder of a startup incubator. >> my name is simon. i am the founder of factory. forhe factory is the space startups to grow from each -- learn from each other. we look for a place to -- on theilding was east side of town, containing the east population. we have the innovators of the future working on what will become the future of the german economy. the factory is in direct relation to berlin as an ecosystem. it is an early-stage place. we have created a different approach. relevant. is you have youthful founders with great ideas. that is why we differentiate and call this a organic accelerator. we are creating proximity. >> david is at the factory with simon. david? ? >> the factories creating quite a bit of the buzz. sound club will be here in the spring. simon.to talk to there is a lot of in

joining us now with his take, the world's largest money manager, blackrock chairman and ceo larry finkry, thank you for being here today. >> becomy, thank you for having me. >> you have been talking about this coming retirement crisis for a long time. how big of a problem for individuals and for our economy? >> well, i think it is most serious crisis that we have today. but it know it going to be manifested in, in today, it is going to be manifesting over the next 20 and 30 and 40 years. we, we are witnessing a total lack of savings towards a retirement by, by, a large component of our population today. and importantly, if you are part of a company plan that once was defined benefit plan now contribution plan, we are seeing so many people are not participating in those plans. and though, most americans today have a real shortage in what they, they need toward retirement. talking about the private part of -- of our economy. the public sector actually, the men and women have, probably a appropriate, pools of money for retirement. in the private sector, in the small jobs men and women wor

pomeranz and gerardo rodriguez from blackrock.soft, google are all making big purchases. is apple getting left in the dust? ♪ >> tech is getting aggressive. amazon announced plans to use drones to deliver packages. whether they are serious or not is up for debate. google bought nasty and then sold motorola. nest.gle bought apple bought a little-known company called burstly. is tim cook playing it too safe? hayzlett is with us and jeff. things thatof those apple has purposely said we are being conservative. we want to keep our money for things that are really significant. >> that can be good or bad. time will tell. i think they are playing up against rope a dope. book and hee this said the decline of company is the hubris of success. are we being stupid? >> stubborn or stupid? for our own britches. there are some smart people there. can they get an infusion of new people, get some new ideas, some ideas that might help them? or the will they keep to creating these great products and have seen super success? tim cook and needs to loo

blackrock's chief explains why. another exchange from the virtual currency. we have the new boss, the taper, this is a bloomberg exclusive. to the batcave, and in sports, shaun white is grounded. the u.s. loses its best hope for gold.

russian foreign minister sergei blackrock said the actions of the western states resemble blackmail and he urged condemnation of the actions of quote radicals and extremists who are mostly responsible for violence and bloody riots to discuss the bigger picture i was joined earlier by brian becker he's the national coat of color. accordingly there excuse me of the answer coalition. i think the sanctions would curb the violence as the west seems to think that well well we have to look at the new sanctions measures and in a bigger context the united states in the eu the nato powers have been using all kinds of pressure on the ukraine government with the effort to bring ukraine into the eu which means to bring it in tomato red shoes the border and in november what they did is they gave an ultimatum to the ukraine government. you either make a decision now he would brush up or be with the eu no other choice than they outlined a plan which was to impose extreme austerity measures and ukrainian people as part of the admission policy to get into the eu. then of course they help castigated barba

been there since 1970 and he always says something that usually gets a chuckle out of people when blackrock comes in. >> he is the sergeant of arms of the upper house. >> who chooses? >> he is chosen by a committee of the house of lords. >> he is a civilian. >> a lot of them are civilians in the sense that a lot are ex military people. he is chosen by a committee of the house of lords. and that is it. >> so he comes over from the house of lords as the queen is arriving and what does he do? >> he comes to the emissary of the queen to summon back from the house of commons to attend the house of lords. as he arrives, the door is slammed in his face and he bangs on it with his staff. this dates back to the reign of charles i, when the king and parliament were at loggerheads. the king sent a message down to the house of commons at one point to arrest five members and they slammed the door. in the face of the monarchy. >> dennis skinner has been in parliament since 1970, was a coal miner. people should turn their television sets up to hear this. what is the purpose of what he does? did he start t

last month schneiderman announced a settlement with blackrock.stop survey analysts getting information about companies before analysts disseminate more broadly to customers. >>> jpmorgan's chief compliant officer reportedly quit the bank after just a year in the job. the "wall street journal" says cindy armein is expected to take a position at the payment processor first data. jpmorgan appointed an interim replacement and now looking for someone permanent. on tuesday the bank announced it was cutting 8,000 jobs as well as lowering full year profit outlook hurt by weakness in trading and mortgage business. jpmorgan stock not doing anything in frankfurt according to that. >>> target in the spotlight. >> it is in the cross-hairs. >> can it overcome its recent issues? we're getting a preview right after the break. in my world, wall isn't a street... ...return on investment isn't the only return i'm looking forward to... for some, every dollar is earned with sweat, sacrifice, courage. which is why usaa is honored to help our members with everything fr

. >>> coming up after the break, blackrock's chief investment strategist is going to join us.e us his forecast for the bulls right after that break. >>> and then later, we'll be talking about the business of pot. actually family business of pot. you'll meet one family that sits around the kitchen table rolling doobies together and selling them. doobies, yes. >> in the prompter? >> we're coming back in a moment. a little bit of weed. when you order the works you want everything. an expert ford technician knows your car's health depends on a full, complete checkup. the works. because when it comes to feeling safe behind the wheel, going the distance and saving at the pump you want it all. get our multi-point inspection with a a synthetic blend oil change, tire rotation, brake inspection and more for $29.95 or less. get a complete vehicle checkup. only at your ford dealer. >>> welcome back, everybody. we've been watching the futures this morning. and after a down day yesterday, the futures have picked up this morning. the dow futures are up by about 55 points above fair value. s&

the chief investment strategist of blackrock here to guide you and your money. breaking away from aol before the tim armstrong health care baby scandal. about.me star tony conrad thinks the online identity site has a much better chance of becoming a top internet brand by standing alone away from aol and its troubles. tony's with us exclusively. plus, the bird about to go the way of the dodo after the creator of the app says he can't handle the truth. truth is, he's too successful? don't despair, fans can still get their hands on the extinct game. we'll she grow how. "countdown to the closing bell" starts right now. liz: good afternoon, everybody. it is the last hour of trading and stocks are trying to move higher at this hour. the nasdaq and the s&p are making it so. one of the most widely held stocks many of you may have your portfolio. the winter chill is freezing the golden arches. the world's largest burger chain joininjoined the department in y retail chains in blaming bad weather in the u.s. costing sales to drop by 3.3% at the u.s. restaurant specifically

adam: peter hayes from blackrock on top of the show., on the wires, scheduled a vote to bring the bonds to market. we'll follow that. >>> a wearable gadget that converts words on a page to speech simply running your finger over the word. cheryl: amazing technology hyped mit labs finger reader. that is coming up next. ♪ ♪ [ bell ringing, applause five tech stocks with more than a 10%... change in afr-market trading. ♪ all the tech ocks with a market cap... of at least 50 billion... are up on the day. 12 low-volume stocks... breaking into -week highs. six upcoming earnis plays... that recently gapped up. [ male announcer ] now the wod is your tring floor. get real-time market scanning wherever you are with the mobile trader app. frotd ameritrade. with the mobile trader app. iwe don't back down. we only know one direction: up so we're up early. up le. thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move ortart a new here. business here... and pay no taxes for 10 years. with new jobs, new opportun

the chief investment strategist of blackrock here to guide you and your money.

class you have blackrock, the biggest asset manager in the world, talking to these companies behind closedep in with the support of a lot of shareholders, saying, make sure they get more efficient and pay for performance and restructure these companies that have been underperforming for two decades. >> let's turn to something else in the news these days. minimum wage. who needs congress to act when you can do the job yourself. yesterday after walmart considered changing its wages, cap actually did it. and then to in 2014 $10 in 2015. this will affect about 55,000 employees. the global grand present of banana republic joins us with more on why the company did it. welcome. wages now? doit is the right thing to for our employees and our company. it is a strategic investment we are making, one we think is a great investment. inntline employees, those our stores everyday interacting with our customer, they are the most important in our company. the difference everyday. it gives us a competitive advantage. in the marketplace, everyday we compete for talent. this allows us to really compete for t

blackrock's ceo will be here, and it will be a big day. >> bloomberg is about to take you on the marketsutes past the hour. >> thank you, it is time for today's options insight. net five networks was part of yesterday's massive sw elloffs. but now we have an investor was bullish on the strategy. great, it islooks hitting a 52-week high. a pullback yesterday when the s&p 500 futures went down 40 points. i think this is an opportunity. institutional order, a traitor lot 1000 of the 800 call -- trader bought 1000 of the hundred call. in that ugly day and that selloff, i bought some of the april 1 15 calls, it cost me $2.15 for that was my biggest... and a microphone -- that was my biggest position in my portfolio. the stock chart looks great pride the good is headed higher. >> is their fundamental reason that you like it? >> the earnings were great for the stock was trading $94, we saw this institutional order, and i took it off before earnings, and unfortunately they had a great quarter -- and fortunately they had a great quarter. takes out 110, it can go up to 120. it will get hit, but th

. >> we spoke to blackrock a number of times. they say, we want more dividends. the suntor once more dividends, especially if you invest in these miners. they responded. a 15% increase in the dividend. came in at $1.92. a hat tip for the guys at deutsche bank for calling this one. the question mark is something you called as well. it is china. what we saw last year and the reason for the big pop in profits was a tick up in the price of iron ore. china is showing no sign of backing away. what we have seen for the first half of yes here -- this year is iron ore. revenue is from iron ore alone. if there is a question mark over the iron ore price this year, it will be a question mark not just over rio but for the rest of the miners. >> they are so closely intertwined. john, thank you so much for that. john ferro with the latest on rio tinto. >> rolls-royce said sales growth won't grow this year. shares tumbling today as a result. let's welcome bloomberg news reporter rob wall. rolls-royce is a complex business. they may complex products. it is an industry come in a b

larry think of blackrock says emerging-market assets are looking pretty cheap right now.re still concerned. slowing china, trade deficit in turkey, the fed tapering also weighing on investors sentiment. >> we talk about emerging markets, we have got uncertainty in thailand. out.h numbers are >> to a large extent, expect a slowdown, says the world bank. the prolonged political unrest will impact investment and tourism and disrupt policymaking. economists we spoke to say the outlook is pretty bleak. unrest is hurting look with amanda and delays government spending as well. it shows q4 gdp won't come in at 0.3%, the slowest in about two years. the federal bank surprised the market when it kept rates unchanged last month. economists expected a cut. was cut fororecast 2013 and 2014. poor gdp performance content expectations of a further rate cut at the next meeting. i want to show you the bus -- baht, the worst performer after the rupiah and the japanese yen. thai consumer confidence at the lowest in years. prime minister yingluck shinawatra declaring a state of emergency in b

talk clark -- blackrock's chief explains why. another exchange from the virtual currency.he new boss, the taper, this is a bloomberg exclusive. batcave, and in sports, shaun white is grounded. the u.s. loses its best hope for gold.

looking forward to jeffrey rosenberg of blackrock. begin march. 6:00 a.m.rveillance." for the hourhost is charles plosser. we want to get you some company news from the files of bloomberg west. adobe is signing on to president obama's broadband initiative. all totals, companies have donated $1 billion to this initiative. a legal win for apple in germany. eight $2 billion lawsuit is dismissed. they say apple infringed on technology to decide priority for calls on mobile networks. ibm has begun dismissing workers its $1 billion restructuring plan. the cuts could result in the as many as in 13,000 jobs this year. that is today's company news. this idea that tech companies are cutting jobs as well as big banks, gets swept under the rug. tech companies as well. >> we're seeing a lot of efficiencies as we going to 2014. they continue from last year. it is a debate among economists. the job economy, how many's are not working. could they come back to work and should they come back to work? it is a raging debate. charles plosser is with us from the philadelphia fed

. >> great news for blackrock an etf's. >> the old vanguard, just index yourself. >> james mackintosh this morning, here is the key quote this hour. we will focus on this across "bloomberg surveillance." four other funds made four jillion dollars correctly calling strong run in equities. our guest post is michael holland. we look at chairman yellen's testimony tomorrow. they arethese hitters, making 2% and 20% on their fees, all they did was holland 101. to be everything back to vanguard. japanesere in the market unchanged for commodities, 66%. is better-- 22% than zero. >> you have been bullish every time, you have got to be long. >> shameless plug. >> it is not. >> we are building viewership. why have you been so bullish? >> what we have talked about, what david tepper has talked about, and the people at wellington, they have found things to buy. articles will say the same thing. look at what things cost, back you look atwhen values. when you had 10 times earnings for the u.s. indices, that does not make sense. end of ourthe front-page story. michael holland, here is the thing. it i

eastern time, blackrock ceo larry think -- fink. ♪ >> it is time now for our global outlook into they investor, sam bell, who is still with me. i want to play for you one comment that bill gave in our studio a few weeks ago. he talked a little bit about the cynicism that he sees around the world when it comes to helping poorer countries. side ofacts are on the the optimists and i think it is dangerous that people focus on the bad news and do not see the progress we have made. it means that they do not look at the rest practices. it makes them less generous. we are raising up poorer countries, most people in middle income countries now. there is more to be done on how forms, but the track record of success, if you do not see that you will not participate in what we need to do. >> is he right? the world is getting to be a better place? >> i hope so. certainly, the world is getting to be a better place because of what will gates and melinda gates are doing. so, i have nothing but accolades for what they are doing. how effective is it? we will find out in 30, 40 years. >> exactly. a gene

let's ask ross from blackrock and our own jeff cox. they both join me.uss, first to you, you see so much flow in and out of your etf products. what do you glean from that? >> well, we see that investors have gotten very nervous the last month, particularly in parts of the market such as emerging markets where, you know, there's a lot of concern about the stability of the space. look, i think the good news for investors is i don't believe anything is fundamentally changed since the market was at a peak in late december. the problem is everyone knows it was a big year last year, particularly for u.s. equities. most of those gains were predicated on the market getting more expensive. there's a lot to digest. to some extent this correction shouldn't come as that big of a surprise. >> jeff, does that mean we shouldn't blame central banks for what's going on? >> we should absolutely blame central banks for what's going on here. there's no doubt about it. look, the road to this market mayhem was paved with very good intentions but we're seeing what happens now

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vikram and we can't leave out blackrock c.e.o. larry fink as russo looked in the back of the room attempting to be as innocuous as possible he witnessed bizarre displays such as wall street execs fancy themselves at stand up comedians and performing weird al yankovic style song parodies incorporating occupy slogans into their rituals and seriously riffing on how the one percent is now a target is something relatively new for these people but the curious spectacle of male only rich boy clubs wearing drag is nothing new nor is the fact that congregate many secret societies to celebrate their own power and nothing exemplifies this attitude more than yale's skull and bones club a one hundred seventy two year old organization that seeks to get its members into positions of power during the two thousand and four elections that came out that bush and his opponent carried both were members of skull and bones the most exclusive fraternity and america according to the london telegraph the phenomenon of the yalies as yale are known has provo

traders square off against blackrock's rick reider. >>> lulu, is it time to add this battleground namejarian, brother jon, mike santoli and trader ben is down at the new yoorew york stock

investment strategist at wisdom tree and joining us is the chief global investment strategist for blackrockalso come in relatively strong today, durable goods are weak. sorry, industrial production was weak. retail sales were weak. where are you on this discussion about the -- about the data and the strength of the economy? >> i certainly would agree with the notion that weather's having an influence. you know, one data point to keep in mind when you looked at the manufacturing survey which came out earlier this month, the plunge in the orders was the largest we've seen since 9/11 so clearly the weather's having a large impact on manufacturing. many sectors of the economy. and that said it doesn't explain everything. the payroll report in january was weak. but yet we had 50,000 new jobs in construction which is arguably the most water sensitive of any industry. so, i think the reality is the weather is adding an additional headwind. we are certainly seeing some slowing from the pick-up we had on the back half of 2013. >> is it logical, russ, in your view for the market to be rallying back u