bloomberg television.k crumpton. inks for staying with us. let's check this top stories -- the top stories we are following this hour. may was a good month for the auto industry. g.m. and chrysler posted sales that beat estimates. for chrysler, it was the 50th month in a row that sales rose. g.m. in the midst of a recall scandal, boosted sales by 13%, thanks in part to the sales of chevy crews and silverado. factory sales rose for the third consecutive month in april, pushed higher by surging demand by military hardware. 7/10 of areased percent. momentum -- this is seen as the economy regaining momentum after a harsh winter. beijing, the in 25th anniversary of the tiananmen square protest. dozens of government critics and relatives of those killed in the protest have been detained. in recent days, google services in china have been disrupted. that is a look at the top stories in the news we are following for you at this hour. stephanie ruhle just sat down for a special conversation with lloyd blankfein, ch

bloomberg lp, owner of bloomberg option, sat down with bloomberg josh tyrangiel.en. >> not only does london need to but thiseed the tech, is where tech wants to go. you have got to know about the world and be able to show to the world and ask the world what he wants, and they live here and live in new york, more so than in any other cities. >> other cities including san francisco, san jose, most of the west coast. guestd truesdale, our host for the hour, do you hear tech companies saying that they would rather list in london or new york? >> a lot of interest in tech and biotech out of europe and the u.k. in particular. many of them happen coming to the united states. reboundedarket, which for a well, as rebounded again. >> when it comes to tech, everyone will throw stuff back -- at the screen back in london, the u.s. tends to get it more. create ayou can never tech scene. i was in cam which 2 years ago and were trying to tell me that it is the silicon -- john was talking about the silicon roundabout in london. it either happens or doesn't. created bye government.

bloomberg surveillance on bloomberg television and radio.ion with our guest -- i am tom keene. with mia scarlet fu and liz ann -- with me is scarlet fu and liz ann sonders. they are located at the storied withss of 50 south street a focus on integrity for decades . they have managed money for the well heeled. the dividend was not cut or eliminated in the most recent financial crisis. now with low yields, financial repression ever present, frederick witold joins us. he's chief executive officer. as you speak to people, they are dealing with financial rotation -- financial repression. has it changed the way we manage money? >> i think it has in the sense that what our plans are looking for our solutions. it has taken on a much much higher of scrutiny with our clients than before. it used to be a large blue-chip kind of growth and now the search for yield is a global market we operate in. >> how do you respond to traditional northern trust client who says i just need to make four percent and you as a fiduciary cannot make that happen? >> it is

michael bloomberg is the owner of bloomberg television.back now to our why in -- wiring the world series, where we look at how technology is. fusing technology and medicine has allowed doctors to treat patients with the most sophisticated and durable devices available, but it is not always easy or simple to get this equipment. aptitude, out of texas, is trying to change that. they describe themselves as the amazon of medical devices. it connects hospitals and medical practices directly with suppliers. the vp and general manager joins me now and our studio along with with our studio along editor at large, cory johnson. the amazon of medical devices, what does that mean, exactly? >> of business marketplace focused on helping hospitals suppliers come together to do contracts for health care supplies. hospitals have to source tens of thousands of different products in support of patient care. to manage the costs associated with these products, they use purchasing contracts. the process of adding for those -- of bidding for those contracts can

bloomberg. that for you here. stay with us. >> good morning. it is bloomberg surveillance and it is the anniversary of the tnm ienanmenre -- tn square anniversary. this is bloomberg surveillance and i am tom keene. jonathan has the top headlines. >> president obama is wrapping up his trip to poland and meeting with the president. hewas elected last month and is committed to a peaceful process and his country. in california, voters selected a bailout chief to face jerry brown. he finished second to jerry brown that sends the top two vote getters to the general election. game one of the stanley cup finals. it has been an incredible postseason for the rangers and the owner, madison square garden, is benefiting. that is what the series is doing for the bottom line. >> the goalie for the rangers is important. who else would you watch? >> the passing of his mother was the thing that triggered the turnaround in their playoff run. they were down against pittsburgh and almost got finished off. >> a singl

this is "bloomberg surveillance." it is friday, friday i say. i am tom keene. and adame, scarlet fu johnson. adam johnson gets to a brief morning brief because it is summer. >> tomorrow is the longest day of the year. make sure you make your plans accordingly. britain's budget deficit is a little changed. the subtlety is that the tax receipts rose slightly as the uk's economy improved. >> this is the success economy among the g7. >> correct. >> it is like the greatest story never told. summoning people working part-time because they can't get full-time jobs, but if you dig down deeper, there is improvement there. no economic data here in the u.s. tuesday, we are going to get a ton of data on housing. that is probably the best read, -- we will be talking about housing a lot today. we have carmax and garden restaurants. summer starts tomorrow. make plans accordingly. >> watch the world cup. i don't know anything about it. >> we have the u.s. on sunday. u.s.-portugal on sunday. >> are portugal's stars not playing,, right

bloomberg. hottest trend in business today is the walking meeting. cory johnson hits the trail. ♪ >> welcome back to the best of "bloomberg west." i am emily chang. long presentations and interruptions, traditional meetings may be the latest thing silicon valley is making obsolete. many of the top executives are taking a page from the late steve jobs. they are shunning the conference room in exchange for the walk and talk. jeff weiner is known for taking walks. cory johnson recently took a walk with him to see why he takes it outside. >> show me the way. this is your regular walk? >> this is where it begins. it was very practical at first. when we were at the earliest stages of hypergrowth, we were doing facility planning. for one period of time, we have a lot of people and not enough space. one person was responsible for training and fitness here. he said, "i have a great idea." we would be in better shape. do your meetings while you are walking around. this was something that they had already

>> from bloomberg or when -- bloomberg world headquarters in new york, i'm mark crumpton and this is "bottom line." iraqi forces fight militants as mr. al-maliki says his army is gaming ground. highlights of tom keene's interview with christine lagarde -- is gaining ground. the audi r8ok at sports car. viewers here in the united states and those of us joining us from around the world, welcome. we have full coverage of the stocks and stories making headlines. matt miller goes for a test drive with audi of america's executive. michael mckee examines the supreme court ruling on argentine debt. we begin at the white house with more on the violent situation in iraq. >> good afternoon. for the better part of three years, president obama has made his ability to remove u.s. troops from iraqi one of his foreign policy accomplishments. over the last four days, the u.s. is moving back towards iraq. what we've seen has been a deliberate effort, both in naval assets and in drone operations, for the u.s. to try to get a handle on a situation that escalated very quickly and directly threatens the i

of bloomberg lp.hey honored the recipients of the goldman sachs small business program. welcome. thank you. when we think about your careers, you were not born and bred a goldman sachs banker, you started a tech company. tell us your story. how did you get from the beginning to where you are now. we are celebrating entrepreneurs, of which mike is a terrific and fabulously successful one. butined an ongoing concern, i grew up in brooklyn, east new york, i lived in the projects. i went to great schools and came out, and practiced law for a while and then tried to get a job at wall street because i thought it was the most interesting and exciting place to go in new york city. i thought i could not get a job anywhere, for reasons that were very appropriate at the time. i got a job at a commodity trading firm which is on the lower prestige end of that gradient. that firm was acquired by goldman sachs them and that is how i got my job at goldman sachs. >> you had to have been extraordinarily scrappy to get

coming up on bloomberg xiaomi rising, "bloomberg west," 1:00 and 6:00 p.m.ng. bloomberg "surveillance," good particularly in europe. tom keene, scarlet fu, and adam johnson. scarlet fu has -- host of bring in the the 8:00 hour, "in the loop" begins at 8:00. with mario compete draghi. awaiting the ecb announcement. we have a power our. have the former nbc universal executive and former ceo of martha stewart living. talking about everything from online education to retailing. sallie krawcheck is joining us as well. she announced the other day that not only is she changing the name of her firm to elevate, she is starting a women-focus fund. putting her mone would hurt -- putting her money in her mouth is. >> 85 rods is a take on the fact goldman used to be at 85 broad street. will take place during the mario draghi press conference. the ecbts away from decision. typically less than two minutes, not exactly at 7:45. dan alpert with us. also with us, jon ferro from our london office who covers so much of the ecb. of euro -- what is the bet the market as because o

is "bloomberg surveillance." ♪ >> this is "bloomberg surveillance."t you some company from the files of bloomberg west. googles labs will have more to offer for the connected home. forng security startup firm 550 $5 million. they make in-home cameras that can be checked from a smartphone. smoke alarms can also be adjusted remotely. amazon is making an exception in the pricing dispute with book publisher. agreed to take orders and reduced shipping times by j k rowling. the tech venture capital firm is making a bet on computer security. the firm is investing $90 million in the start up company according to "the wall street journal." it is the second biggest investment for dreesen's. >> bloomberg lp is a modest investor. >> thank you, tom. >> oil rallies to a nine-month high as insurgents capture more iraqi cities. vices are still only up 7% since the deadly campaign began to ask ago -- prices are still only up 7% since the deadly campaign began two weeks ago. are we setting over some super spike? >> what you want to watch for, not a big supply disruptio

that was mike bloomberg.or of london, boris johnson speaking with blue further news with -- with bloomberg news was editor. and mash. i cannot believe that is one thing mike would want to bring over. what i found interesting was the comment about the cultural differences between new york and london. of london, the mayor saying he hopes london whale but, more like the united states. -- saying he hoped london would more like the united states. there is still a cultural resistance to accumulating. that needs to change. >> a tough about it. >> you are against it? >> a different way of looking at things. >> talking obesity. for those listed on bloomberg radio. that is next. we'll be talking about your at iraq.- a rock -- a big subject ♪ >> and insurgency in iraq. this is oil prices continued to climb. >> megamerger monday. top of the two medical device makers join forces. >> logging on to london as tackle week kicks off. exclusive conversation between boris johnson and michael bloomberg. >> just technology is not

bloomberg west.ory johnson. the legislation to kill patent trolls died on the senate floor. patent trolls live on for now. but the supreme court is not letting patent reform remain at a standstill. head of the patent office made a major policy announcement, offering a new approach to combat use trolls. let's take a quick moment to define the straight -- to find that phrase. >> they are called patent trolls -- companies who have acquired the rights to patents but don't actually sell or produce anything. oftenuild patent arsenals collected from the abandoned stockpiles of universities, failed startups, and defunct big the companies. their war chest, those trolls go out for blood, targeting companies whose technologies are similar to those outlined in the patent. they threaten costly lawsuits unless licensing fees are paid. most troll attacks are settled out of court for nondisclosure agreements. of the 4700 patent lawsuits filed in 2012, 3000 were from these so-called patent trolls. >> how we regulate

this is "bloomberg west."t has been one year since revelation.en's nsa there are secret wires that allowed government agencies to listen to conversations in some countries. tore's government access voice calls and other data moving across networks. vodafone has over 4 million customers around the world. we spoke with a communication managers for privacy international. he joins us via skype from london. first of all, what was your involvement in getting vodafone to release this information and how difficult was it to get them to do so? >> we have been working with vodafone for two years on this. what we have seen is the communication providers and government requests for data. what we needed was a global survey. it is incredibly important for us to nick sure that we have got a global picture on what are these types of data that governments are requesting and how they are getting the information and what is vodafone doing to protect the rest of the users? governmentsals that can listen to user conversations with

this is "bloomberg surveillance." ♪ >> this is "bloomberg surveillance." you some company news headlines on the files of bloomberg west. sony ceo is apologizing after the company's forecast's six loss. he says counting on restructuring new smartphones as well as spiderman films to turn the company around. apple is taking advantage of the dispute between amazon and book publisher. apple now promoting and discounting pre-orders for the digital books. they can't agree on pricing for books by authors such as harry potter. amazon won't let customers reorder the books as a result. film and television studio raising capital ahead of a planned ipo. the company helps fund the facebook movie "the social network." the recently signed partnerships in china and india. the ceo spoke to bloomberg television. >> what i can say is jefferies is our banker and we have been thislucky to have incredible institution to work with. we are kind of on our pre-ipo roadshow, setting up the proper capital to go public. our goal is to have it happen somewhere less than the next 12 to 1

"bloomberg surveillance" -- we are on bloomberg television and bloomberg radio. . 111.75 right now one are watching this very, very carefully. i am tom keene. with me, scarlet fu and adam johnson as well. surprise, emerging markets -- well, they are not cheap, according to head of blackrock's emerging-markets and cohead of investment at blackrock. dr. shenrilled to have with us this morning. i was fascinated by your note because it is so outside the zeitgeist. every city and -- everyone said the emerging-market is cheap and use it -- you said no. >> is not cheap relative to history. within the emerging market you find quite a bit of divergence. you have places like russia where it is cheap for a very good reason. you also have india and south africa, actually quite expensive. >> air will tough question, if i could, dr. sh -- a world cup quest, if i could, dr. shen. is brazil and emerging market anymore? >> i think the world cup can potentially be a turning point for the country. >> when you look at a chart of how emerging markets have performed, they lag behind world index for the fir

vix higher as well. " bloomberg west" will be right back. ♪ >> you are watching "bloomberg west" wheres on the future of business. convening in france to discuss the future of the business. seeing business grow in an older audience, one of the hot topics was has to catch the attention of the variety of groups now active on social media. stephanie ruhle attended the event and sat down with buzz feed ceo and started by asking if buzzfeed was going to attract an older audience. >> it is still growing quickly, but my gut feeling is that we are starting to see a little bit of a shift. we look at it with the level of individual posts so if we do a post about parenting, we will see and reach an older audience and if we do a post about signs that you missed your senior year of high school, it will skew to a younger audience. >> in the last year, do the traditional media icons want to understand how your business works? could we see buzz feed become part of these iconic traditional media brands? >> we hear from people at big media companies but people from small businesses doing work in the spa

one of our bloomberg reporters joins me now. we know it is confirmed. $17 billion. >> there was a lot of competition. we have reports of other people trying to lead this. fidelity seems to have gotten it. they have been talking to a lot of different possibilities here. $17 billion seems to be the consensus. >> there is also perkins. demand was very much there. >> absolutely. they weren't raising quietly either. they were saying they wanted to raise at a record valuation. this is coming. >> he says it is about capitalizing so they would be ahead of themselves. >> that has been a lot of discussion about what else the future could hold -- delivering packages come in taking on fed ex. how close are they to going into other businesses? >> they have the money. it is quite a lot of capital. they can expand internationally, which they have done a bit of. they will be able to maybe put more effort into fighting these battles with governments and coalitions and get into places they haven't been able to get into. i think we will see them e

that is next on best of "bloomberg west." ♪ >> welcome back to best of "bloomberg west."pple conference keynote was a live stream worldwide. the company was really putting on a show for its developers. cory johnson and i spoke with mr. schank. and they depend on developers to fuel their business. i asked phil how important the announcements were for his company. >> i think it was the most developer centric keynote i've been to. i get really excited about this stuff. >> consumers say, what about me? >> all of the excitement about the environment and language, it is very developer centric. it will lower the learning curve. it is not what customers will see. >> do you think it will really lower the learning curve? i just heard new language. language. >> and that is all i know. >> is based on languages that developers, javascript. things people are familiar with. >> you think it happens faster and cheaper? >> that is what i expect and our guys are excited about. developing on android and they are excited. >> are you developing on android? >> we are a mobile only company. we o

bloomberg, paris. confused andomist of modigliani miller fame. >> can you expand on that? they just said we have 10 minutes to fill. >> i wonder if they have been dabbling in the art world. >> is there another way to make $50 million in a decade and i thought of sports franchises. >> are you planning to buy one? basketball maybe? >> donald sterling by the l.a. clippers in 1981 for $12.5 million. it seems he will sell it for billions, but that's a few decades. if you bought a sports franchise here in the u.k. -- >> it's harder work than owning a painting. our e-books outpaced to outsell print books? >the latest forecast when we coe back. ♪ >> welcome back. london. a.m. in trains, planes, and now automobiles that they would like a light weight materials to improve the performance of. ford has been advancing this technology and matt miller went to their world headquarters to see the concept car fishing light weight to the bank. weight.ng light >> this is the pickup truck that they entered into the baja 10

this is "bloomberg west."le is not giving up. it is cutting prices on the ipad touch and a new ipod will cost just $200. apple is adding a rear facing camera and also making available more colors. its revenues have fallen quite a bit in the last quarter from nearly a billion dollars the year before. one paymenter method alipay is teaming up. it processes payments for chinese e-commerce giant alibaba. the global payments is expected to reach -- partnership, this the striped cofounder joins us now. stripe partnership, a cofounder joins us now. i don't understand it. can you coach me? >> for usure. alipay has had little attention given how large they are. hundreds of millions of consumer accounts in china. if you look at what stripe does, we make it easy for websites and mobile apps to accept payments. there has been this emergence of global companies like go pro, dropbox, mobile marketplaces all of them have specialized payment needs and that is what stripe handles for them. today you can only sell to the credit

that's next on bloomberg west. ♪ >> i'm cory johnson. this is "bloomberg west."acebook is in a legal dispute with the district man that -- manhattan district attorney. judges ruled that the social network facebook must turn over user data. information from these accounts will be used for fraud investigation that workers have filed for federal disability. the government thinks they are faking it. the facebook pictures show them healthy. facebook says the warrants are unconstitutional. this is an interesting story. who owns this information? >> when the government requested this information, they weren't just requesting it for the the individuals themselves, they went straight to facebook. they wanted it on hundreds of people. facebook couldn't tell the people, so they couldn't let the people sign up for themselves, or give them a warning. and they had to turn it over. the couldn't deny the government that information because the fourth amendment rights are their own. >> if the people -- if the pictures are in my file cabinet, i own them, they would have to subpoen

"bloomberg surveillance."question of the day, what is the most disruptive tech product on the market. bloombergt surveillance. good morning, everyone. i am tom keene and with the -- with me is scarlet fu and adam johnson. fiorina, former ceo of hp. was shot down in the ukraine and all nine servicemen were killed. they say russia is helping the rebels and the sanctions against russia have been delayed. obama administration officials say that they see positive signs from russian president vladimir putin. politics turned upside down in centerippi as six time thad cochran retains his position because of democrats. liberals voted for cochran because they fear his more conservative opponent, and what else do we have here? accounta western iraq controlled by sunni forces attacked by syrian warplanes. syria is trying to help the baghdad shiite government against rebels. the prime minister is ready to concede much of the country to insurgents and now just wants to defend the capital. former vice president dick cheney t

bloomberg west," ♪ i am cory johnson and this is "bloomberg west."pple settled up book distributing lawsuit last week and now is turning its focus to its appeal of a july, 2013 ruling in its big dispute with the justice department. e-bookto do with a fixed prices. apple appealed the ruling in february calling the government's arguments absurd and fundamentally flawed and now apple is expected to release and a brief on the case today. amazon is also facing a big push back from antitrust regulators around the world. what does this mean for digital publishing? it's good to see you. tommy about smash word. -book publishing platform with 100,000 authors. the books andload we distribute them to leading e-book retailers. >> amazon? >> very few to amazon. >> they love to boast about the books that are published outside traditional publishing but they ave a huge dispute with cahette. what is the effect of this dispute with chachette have on the rest of the industry? >> it has had a big effect on the biggest will come down the line once the dispute is settled

this is "bloomberg surveillance," on bloomberg television, streaming on your phone, your tablet, and bloomberg.com and now available on apple tv and amazon fire. ♪ >> good morning, everyone. the government of the united states shut down at 12 noon today. will be watching usa-germany and we hope you enjoy the game. this is "bloomberg surveillance." i am tom keene with scarlet so and adam johnson. there is an informed conversation on aereo. decision isme court likely to be a fatal blow to aereo which will upend the economics of television. markets managing director david bank said this is a big win for the broadcast networks and their owners and a bigger win for tv broadcasting companies. is it now business as usual for rulingsters since this was widely expected or will it embolden them to be more aggressive in pursuing more revenue from cable operators and distributors? >> i think it's business as usual. i think the biggest impact is for investors. this was a big overhang for investors waiting for this ruling. the secondy came at to last possible day and it was an overhang for the sto

this is "bloomberg surveillance."y joining me, scarlet lundquist and adam johnson. michael new york rangers ho wland is joining us. here is why china's manufacturing expanded at the fastest pace in five months. europe slowed initially due to weakness in france. rose. government bonds data indicating slower inflation. that meeting happens on thursday. economic data here in the u.s.. purchasingey managers index. earnings after the bell, we have quicksilver. president obama is leaving today for europe. friday is the 70th anniversary of d-day in normandy. >> let's get to going. boeing. get to they're now talking to emirates about the 747 -- ee. only four airlines have agreed to buy it. wants to department keep managing pension funds. needs adit suisse waiver from regulators to maintain its status as a professional asset manager in the u.s.. the publisher of time in sports illustrated becomes a stand alone company on friday. print media is getting hammered by following advertising sales. time has put small ads on the cover

ventures and bloomberg contributing editor. started by asking joe what he thought of the phone. >> i mean, this is a phone that is going to help you buy stuff. the coolest feature to me was firefly. this button you push on the side and you can look at anything. it will say oh, we sell that. here is how to buy it. it indexes what you look at because it maps it out with its camera and looks it up an amazon.com, which, as brad will tell you, is the everything store. >> i already buy a bunch of stuff on amazon. do i want phone that makes me spend more money on amazon? >> how will small retailers feel when they see you buying stuff online instead of in the physical retail space they have paid for. look, the phone is neat. kudos to amazon for one, getting it out the door after five years of development and two, coming out with something a little bit new with that screen that cory talked about with the firefly app. it is priced very conventionally, $200 for that two-year contract. they are going to have to do a lot of work to get peop

bloomberg television and bloomberg radio arm further bovine jokes.y with christine lagarde, international monetary fund director. we of the many topics discussed was unemployment and strong statements. >> we look at the numbers, and when we say there are 50 million americans living below poverty level come out when we see many are actually working poor and see that quite a large number of them are single -- single households generally held it hasn am a we believe macro economic dimension that requires our attention and have to do something about it. the most/within the annual review of the economy. with us. poverty level, like 15%. are we a nation of poverty? >> not a surprising outcome given the tepid economic growth after one of the most severe recessions to since the great depression. 11% up to gone from 15% through the crisis as well. >> and has stabilized the past year, but what is the imf missing when it looks at the u.s. and is concerned? purely a difference among forecast ideas. i think the imf has moved toward a new neutral type of you for t

the best of on "bloomberg west." ♪ >> welcome back to the best of "bloomberg west." fcc is growing -- is facing a growing backlash about net neutrality and fast lanes. tens of thousands of people flocked to the fcc website after mr. oliver urged viewers to post after a 13 minute monologue in support of net neutrality. >> right. the fcc are literally inviting internet comments at this address. and i cannot believe i am about to do this, i would like to address the commenters out there directly. good evening, monsters. [laughter] maybe the moment you spent your whole life for. indeed, the fcc website went down following the speech by john oliver. more than 49,000 comments on the issue. a huge number compared that most topics have hundreds. cory johnson spoke with the former fcc chairman and ask if you ever seen a public response to fcc issues this big. theack in the day, and 1990's, we had aol, steve case was the ceo, the e-mail of 00litical lobbying, 400,0 e-mails were sent to the u.s. congress to tell them to keep the internet open. it is the same issue, many years l

new york time, only on bloomberg television. more on the goldman sachs energy summit, my colleague alix steel is standing by. >> takes so much. i am joined by david crane, looking at having a hand in every energy that you can andine, including oil, gas, cold. what about five years from now versus 10 years from now? diversity think fuel is the most important thing, but clearly, we are undergoing a big trend from fossil fuels, and i think whole is more a 20th century fuel as opposed to 21st century fuel. >> a bridge fuel. can you talk about what you mean? >> natural gas and the bounty we have in this country is a huge development, a positive development, but i think we have to talk about in terms of supporting renewables, looking at renewables. if all we do is replace coal plants with nuclear plants and natural gas, we will not make a meaningful reduction in the country's carbon emissions over time. time, energy,king and money away from renewables. do you see that as not eating the case? >> in the short-term, yes, but in the long

of "bloomberg west." >> welcome back to the best of "bloomberg west." i'm emily chang. t-mobile c.e.o. john legere is taking aim at rivals at&t and verizon with some new programs and some choice words. >> every time we do something, people don't tell me, hey, that is a great idea. they say well, how were you able to do that? because the assumption is that these high and mighty duopolists that are raping you for every penny you have, if they could do something nice for you, they would. they \[beep] hate you! >> controversial comments aside. it was quite the event. in typical t-mobile style, hip-hop duo macklemore and ryan lewis headlined. they have been connected to t-mobile ever since legere was tossed out of at&t's macklemore concert earlier this year. they got to hear about t-mobile's free trial program where potential customers can get a free iphone 5-s for a week to try out the t-mobile network. t-mobile is also waiving data charges for music streaming services like pandora and spotify and it is setti

"bloomberg surveillance" -- we are on bloomberg television, bloomberg radio.ore each and every day and i hope you do as well. i am tom keene. with me, scarlet fu and adam johnson. our guest this hour, on sport and travel, jonathan tisch joins us from the loews group. >> for zillow dancing in the world cup as expected, but something surprising is happening this year. presents are protesting public money spent on stadium -- brazilians are protesting public money spent on a stadium over health care. bredin greely is there from brazil. -- brendan greeley is therefrom resulted sports usually transcends all s -- politics. why not this year? >> one thing brazil always does is get behind the national selection, the national team. usually on the apartment blocks, what you see is a brazilian flag in every window. yesterday i was in a city of about one million people outside sÃo paulo, and you could count one or two brazilian flags, and that, i'm told, is a huge change from 4 years ago. the brazilians are really into the cup. it is really good soccer this time around and

bash on your phone, tablet, and bloomberg tv. ♪ >> will come back to "bloomberg west."on. the future,let of that will let users capture altra hd video. the question is, what is making these features possible and when will it happen? a tiny chip that is made by qualcomm. i'm really excited because i want to see what my next tablet is going to look like, and it all starts with the chip. >> qualcomm's job is to drive innovation in the market, that makes you want to buy the next tablet. the companies that we sell to, xiamoi, htc, etc. of merrillhe ceo groups on talking about innovation. after the show we were talking. they have merrill boots, which don't get worn out, 15 years. that is goinging to be amazing that will make me want to buy another tablet when the one i have arch really well. >> i think you will see a transformation, the way that the industry changes from hd to 4k. wild. transition took a you had to wait for the dvd theer, the set top box, content come it took years. you don't want to buy a new tv every seven years. smartphones, the industry moves incredibly f

bloomberg energy analyst. thank you for joining us. >> thanks so much. >> coming up, we will take a look at the revised report for the institute of supply management and figure out what is ahead for the sector and the broader u.s. economy. we will be right back. ♪ >> it's an economy dependent market, so no surprise a very disappointed i sm --ism manufacturing report would send stocks lower in no surprise a major correction woodson the markets up again. michael mckee has the strange twists. and michael, the terms of this market data -- turns of this market that it -- market data. >> i've never seen anything like this before. it came out and was weaker than expected. the forecast was for 55.5. wrongne thought what went with the economy? nothing went wrong with the economy. it was the ism's data. they normally seasonally adjust for the month. unfortunately they applied april's seasonals and came out with the weak figure. when they applied the correct data, everything went up. unfortunately they applied it wrong a

we will be back with more "bloomberg west" after this break. ♪ >> welcome back to "bloomberg west."'m emily chang. target just named a new chief information security officer. he previously served that a similar position at general motors. the information officer is also named after that reach. they have been shuffling executives around that. marcus will be leaving ebay's mobile payment company to run facebook messenger. what does this mean for facebook's future? we are joined along with ceo of a company that recruits for facebook and others. this took a lot of us by surprise. were you surprised? this is a big talent move. >> three years into their gate, it's a lot of times -- the notion of running a 70 person company is different. >> is this a step up, down, or sideways? >> facebook has 14,000 employees and facebook at 7000 -- they have more users than active accounts. the clichÉ is true, he will have a much bigger impact. >> let's talk about the numbers. whatsapp is completely separate and there is confusion about what the relationship between facebook and whatsapp is going to be w

we will be right back with more of "bloomberg west." ♪ >> welcome back to "bloomberg west."assive datar that breach late lester has just named a new chief information security officer. ino from general motors. target has been shuttling executives around after reports that executives knew about this but failed to take prompt action. david marcus is leaving for facebook where he will run the facebook messenger. he plans to leave the mobile payment company at the end of this month. what does this mean for facebook's future? this took a lot of us by surprise. were you surprised? a big talent move the does not involve an acquisition or start up. i think so. >> you look at someone who is three years into their gig. this is many times when you see start up executive sleeve is after three years. this is a step up down or sideways? paypal has 14,000 employees. 7000 but facebook messenger has more active monthly users than paypal has total active accounts. we don't usually think of facebook is being more or less but in this case, he's going to have a much bigger impact. >> let's talk

we are on bloomberg television and bloomberg radio.ws, including with mario the belly and steve miller, look for those on our digital platforms today. with me, scarlet fu and jonathan ferro. john, you are taking us to petrol stations? >> convenience stores -- mario gabelli is the ceo of asset management. mario, convenience stores. why are they the winners now? >> it is a structural dynamic. i will take you to your corner store. i will take you to the locations and the united dates. not only did they send you gas. you have pizza, coffee, cigarettes. the notion of these companies starting off as financial engineering -- hessnames, murphy oil, just sold. hess just sold their gas ebitda. for 16 times this underscores the convenience thrust. -- it is a very interesting acquirer. those are some of the names that i want to own. >> you have never seen money this cheap. how long does this fund continue? >> there's no question that the currency is important. the buyer's stocks have been going up. y,n company x buys company you look at the valuat

>> live from pier 3 in san francisco, welcome to "bloomberg west." i'm cory johnson, in for emily chang. two big stories right now that have a huge impact on the future of business and technology. first, the supreme court ruling against the tv -- streaming dealing areo, potential death blow to aereo's business. we will have a lot more on this big decision, including whether the startup can actually survive. first i want to get to the google developers conference. the keynote is underway right now. highlights include a preview of the next version of android, one, a l, and android phones.to design what is going on there? levelyou hear the noise -- one of the key things we have seen in the first hour of what google has been showing to the world is there is this need to continue to make the software as thence as important hardware experience. they have been talking about the next generation of android. we know that while there is arguably dominance for google, something like 80% of the market in the first quarter, there is this need to stay relevant. lot

in just a few days, bloomberg's new gun safety organization did release another add.nd it's another tense production chlts it takes direct aim at the nra. >> there's no victory until we get guns in school to protect ourselves. >> these words were said by the gun lobby. but they don't speak for us. it's time for our words to be heard. >> the nra responded to that with an ad of its own that counters bloomberg is one guy with millions with 25 bucks. lets's see who crushes who. the reality is expect a debate over guns to ramp right up. coming up next, are the .btx so-called google buss and environmental hazard toths sill of san francisco. we'll fill you in on the reality of that claim. plus, power ball promised to deliver big bucks. how much are schooling actually get sng we'll be right back. >>> the google blus controversy do allow that program to move forward. not guilty for the commonly cited reasons of corporate privilege or inadequate taxes. nope, these groups were taking issue with one thing. environmental impact. if it sounds a bit farfetched, that's because a clos

that's next on "bloomberg west." ♪ >> welcome back to "bloomberg west." i'm cory johnson.p world, you have to explain clearly what your company does to customers, investors, and the like. a lot of companies are choosing short explainer videos from production houses. switch video has produced hundreds of explainer videos for startups. joining us to talk about this growing business is switch video's ceo. you were kind enough to do a video to explain how this stuff works. there is nothing like a picture describing a story. >> we have been doing this quite a while and really dug into the science behind it and why video is so effective. if you actually read text, people only remember 10%, whereas if you put that together with images and tell the story visually, people retain 68% of the information. that's kind of why the videos are so effective and why that video was really great. >> specifically around startups, it's interesting, startups often these days, they don't have a lot of structure, they use amazon cloud or something like that, they don't have a sales team. i imagine

after the break, bloomberg bottom line and mark hampton picks up the coverage. ♪ >> from bloomberg worldeadquarters in new york, i'm mark crumpton. welcome to a special edition of bottom line. in washington, house republicans are meeting today to elect new leaders. job of majority leader following eric cantor's stunning defeat in the virginia primaries. house republicans will also be voting for a new whip. joining me for special coverage is mark help run, managing editor at bloomberg politics. a big story today in washington. just listen to president obama talking about iraq. couple of smart people to talk about that. douglas. aegon, a former economic adviser to john mccain's 2011 campaign and our host from political capital, al hunt. thatow pretty clearly congressman kevin mccarthy from california will get the job being vacated by eric cantor, the whip position that is so important. rex it's great to be on with you. the race may be a bit closer than conventional wisdom. he had to give the edge to steve from louisiana because the red state guys say we need a spot in leadership. that's be