carol: welcome to "the bloomberg tv andge," on bloomberg bloomberg radio.hnson. in the studio, our own drew a bloomberg news. the valley's ceo has a medical leave. what is going on? yeah, over the holiday he was admitted to the hospital in new jersey with severe pneumonia. this is not your regular, run of the mill pneumonia. this is a serious medical condition. he is hospitalized. our understanding is he was discharged for morris town medical center in new jersey. we do not know what his condition is at this time. they have appointed a three-member executive management team to's in for him -- to sit in for him or it also a board to oversee that executive management team. carol: that's pretty serious in terms of structure. reporter: convoluted is one way to put it. and frankly it could not come at a worse time for valeant when we think of everything this company has been through. their stock peaked back in august. revelations about one of their andly chain agreements criticisms of drug pricing sent the stock down 60%. it has recovered a little bit, but still

all right, everybody, you're listening to bloomberg radio and bloomberg tv. ♪ are watching bloomberg.eel. this is your global business report. here is what we're watching. spain's prime minister wen's the election, but loses his majority. what is next for spain. apple and ericsson have resolved their legal battle over patents. and how close are two parties to reaching a deal? thet, let's start with election in spain. voters chose a fragmented parliament, ending the domination of the two-party structure in recent decades. tough negotiations will be needed to reach a coalition. the conservative party fell short of the majority needed to govern alone. ericsson and apple have reached a licensing deal that paves the way for a deal between the two tech giants. they will collaborate in areas including 5g development. apple will pay realties as part of the seven-your pact. two most powerful leaders kicked out of the sport. sepp blatter and the man thought to succeed him have been kicked out. fifa is continuing investigations. sepp blatter says he will appeal. >> this committee has no right to

bloomberg is the founder and majority owner of bloomberg lp, the parent company of bloomberg news. tonight at 8:00 and 11:00 eastern time, changing climate, changing business. john nichols discusses the implications of climate change on the financial markets with former mayor mike bloomberg and fsb chair mark carney. that is a look at our first word news right now. you can get more 24 hours a day at the new bloomberg.com. back to you. scarlet: thank you. opec is rattling the oil market. the group has decided to retain production at 31.5 million barrels a day, according to the secretary of nigeria. he also says opec may meet again before june if prices keep falling. ryan chilcote is on the scene indiana with the latest. opec said prices tumbling a year ago when they decided not to cut production. this time around, they have set a new ceiling. what does this mean? ryan: this was the most chaotic outcome of an opec meeting i have seen in years. agreeduntries said they to raise the production ceiling to 31.5 million, some countries said they agreed to keep it at 30 million. the opec se

this is bloomberg markets on bloomberg tv. david: welcome back.orporate america is in for an uphill battle after a let of mende deals. here at the end of the year, remind us why we had so much activity. guest: we saw a lot of shareholder activists coming to the forefront. companies are under a lot of pressure to be proactive and make sure they are doing things to create value. .hat spurred a host of mergers some of them were megamergers. while it was called for, investors wanted companies to look for ways to grow and consolidate their industries. maybe prices are too high and we are paying too much for some of these deals? the year is sort of ending on a mixed note. you think of who might be though winners and it's not investors, it is bankers. the first year where bank or fees are down. on its own, that doesn't mean anything. to the levels before the financial crisis or higher. the goodwillt piling up on someone's balance sheet, it causes a little concerned. we just don't know that yet. a note of caution. report onry time we one of these, we pivo

welcome back to "bloomberg markets." it's time for the bloomberg business flash. a record year for mergers and acquisitions with a whopping $4.2 trillion of transaction pending or completed. more than 37,000 deals completed this year. that is roughly one for every employee of goldman sachs. one of the big winners in the current merger. the wall street tank advised on $1.4 trillion worth of m&a. arfolk southern has spurred new bid from canadian pacific railway, possibly moving the takeover bid closely -- closer to a proxy fight. wasboard decision unanimous. canadian pacific ceo said the company is willing to go directly to norfolk southern investors if the board won't discuss takeover. a spending slowdown is taking a bite out of retail. responding by giving consumers a holiday gift. that is free shipping. alladvisory says 90% of retailers are offering free delivery this year. some companies like target and best buy are providing it on every single purchase, no minimum. others require a $50 purchase at the very least. something new is available at los angeles intern

this is bloomberg "surveillance" on bloomberg television. ♪ ♪ erik: you are watching bloomberg "surveillancenieik schatzker with can and michael mckee. that is london. it is time for the bloomberg business flash. wealth the third-largest manager and switzerland will settle claims helping americans with taxes. they will pay the justice department millions of dollars. clearing the way for other swiss banks to clear similar investigations. a survey indicates vladimir putin needs help with economics. the russian president was given performance by one fourth of the economists surveyed by bloomberg. 2015 concluded in japan with the benchmark closing at the highest levels in 19 years. the honor of closing the bell went to a renowned conductor. that is our bloomberg business flash. a stunning outcome for the nikkei. let's move to chesapeake. now, they have been number one for a decade. it is struggling. it has already cut one out of every six employees. there's as natural gas plunges to 2.25 per million btu. one of three analysts rating the stock, to $10. most of those analysts focus on chesapeake's

you're listening to "bloomberg advantage" on bloomberg radio and bloomberg tv.hnson in san francisco, vonnie quinn on the east coast. you have the markets basically flat for the year. an amazing thing to see. this is bloomberg. ♪ betty: good morning. welcome back to "bloomberg markets." businessthe bloomberg flash. apple pay is making resolutions to grow in europe and in asia. the service allows consumers to pay using their iphone at consumer terminals. it will be introduced next year in china, hong kong, singapore, as well as spain. and jamaica may bring to mind marley, daiquiris, beaches, but it has a new claim to fame. the jamaican stock exchange newed, bolstered by acquisitions and a strengthening economy. the market has about 5 billion dollars, infraction of the dow's $5.2 trillion. now let's get to abigail doolittle live at the nasdaq where she is looking at stocks on the move. including qualcomm, abigail? absolutely. let's do a chip check. qualcomm, identified as one of the stock picks by merrill lynch four 2015.- merrill lynch says the headwinds around t

tool: you are listening bloomberg and watching bloomberg. ♪ scarlet: you are watching bloomberg. fu. the ceo of ups says u.s. exports did not pick up as much as he had hoped for. toshiba is seeking a of credit after the struggling company forecast record losses. 's net worth saw the biggest drop on the bloomberg billionaire index. we are breaking down how much the wealthiest lost in 2015. ceo of ups.with the speaking on bloomberg, he gave his outlook for the busy fourth and what is dragging down u.s. exports. guest: u.s. exports, with the dollar the weight is now, we did not see the number of u.s. exports we would like to have seen. toshiba is asking for a credit line to pay for reforms. costsmpany faces mounting from an accounting scandal that led to job cuts and asset scales -- asset sales. the odds may be stacked against the british pound heading into 2016. the potential for a referendum in the eu has options traders the most bearish on the pound in six months. the currency undershot analyst forecasts by the most since 2010. and the rich got a little poorer this year. the weal

she is going to be on bloomberg radio -- he is going to be on bloomberg radio.ngreen on the ambiguities and the challenges the nations in the emerging market face. on "bloomberg surveillance." it is a beautiful morning in washington. ♪ guy: this is "bloomberg surveillance." i'm guy johnson with tom keene. let's get to your bloomberg business flash. withxico plans to go ahead tariffs of a quarter billion dollars on u.s. goods. lets canada put $780 million in tariffs on u.s. goods, but canada has not said whether it will do so. toll brothers says prices -- profits rose. is kindling a slightly bigger level of its tablet. it uses a lower level of blue light so that users will not be kept awake at night. that is the bloomberg business flash. tom: thank you so much. lakshman achuthan is with us. now we have a real treat for you. our guest has parachuted in from berkeley. he got in a little early. barry eichengreen joins us it he will be on bloomberg radio before of olivier blanc chart -- before olivier blanchard later. let's bring up the single best chart for our thre

stay with us through the morning on bloomberg television, on bloomberg radio.eillance ." brent crude, 42.55. good morning. ♪ stephanie: president obama lays out his plan for combating islamic state, but his critics say he does not go far enough. oil in free paul -- oil in free fall. and paying for experience. stephanie: welcome. you are watching "bloomberg ." it is monday morning. we are in new york city. i'm stephanie ruhle. david: i'm david westin. it is also pearl harbor day. stephanie: it was an important day for new yorkers yesterday. thejets beat the giants, in -- david: you are not happy with the jets win, are you? happy to be am also here. i spent the weekend in miami. it was a pretty good time, but i am back at home. david:

from bloomberg world headquarters in new york, welcome back to "bloomberg markets."el. scarlet: i'm scarlet fu. mark crumpton is that our news desk. the federal government is looking at the visa program that allowed one of the san bernadino shooters in the united states. testing the leak was one of the mal was one of the pakistanis allowed into the country last yearik. officials typically focus on marriage front. 6 syrian refugees have settled into their dallas homes. comes after arrival taxes officials said they wanted to ban new syrian refugees following the paris dexcom of the federal officials say that states are not authorized to deny safe haven to families displaced by war. sayrnational rescue groups the family is religion eager to start a new life. speaker paul ryan says the house will pass a short-term bill to prevent the government from shutting down this weekend. the investment came as talks on the government-point spending bill continues. the government is operating under a short-term spending measure that expires midnight on friday. americans who don't bu

we welcome everybody on bloomberg tv to bloomberg radio. the day's about economic news and the market tone as we are 37 minutes into the new training session. here with us in studio is an eloise jackson -- anna louise jackson. the town was subdued yesterday erms of equity trading. but we had a rally start. >> we did. and it has continued into this morning. equities are higher this morning. they are of almost 1% to -- up almost 1%. we are seeing strength across the board, strength in stocks and energy. >> consumer discretionary has been your outperform or this year. we have seen that throughout the year. even with all the questions about economic growth and concern still about the labor market and wage growth, consumer discretionary, people have been making choices to spend money. exactly. i would note that the performance has slowed a little bit. this was the leader of the year, and it still is, but some of the gains have drawn back a little bit recently. but there are still struggling attracting investment. un fact of the flood the day. ev

let's go to the bloomberg article by michael bloomberg.ajority owner and founder. -- argue that companies cannot accurately value companies and efficientlynnot allocate capital without reliable data on the risks they face. governor carney with the bank of england, he wants to put together a committee that will focus on gathering the data. mike bloomberg will provide leadership there as well. david: it is consistent with our security in this country. do as atell you what to company, but you have to tell us what you are doing. this is on terri, as i understand it. -- this is voluntary, as i understand it. will this work? tom: yes, this will work. we talked about this late in paris on friday afternoon, i you see the follow-on. is, they arery doing it, we have to do this. it feeds on itself. that has been proven many times. going back centuries, i would say. yes, but if we go back to your conversation on friday, jeff said it was on top of the market. and there are more examples that it doesn't take subsidies or philanthropy or celebrities to s

coverage on bloomberg tv and bloomberg radio. ♪ david: welcome back to bloomberg markets.ancellor angela merkel is vowing to use germany's economic power to turn an influx of refugees to the nation's advantage. now is our chief senior economic correspondent. some of it struck me, how she characterized the influx refugees as an opportunity. >> she used a really interesting phrase that was translated as we can do it. really means is, we will figure it out. we don't yet know exactly how it's going to work. month,d it over the last they will have to be integrated. they will not sit there in camps. they will have to learn german. it's ok to say them in germany. and she has disavowed multiculturalism. comeaid if you're going to here, you'll have be part of this culture. germany has done this before and they did it very well. many bosnians ended up in germany and they were very well integrated. they became part of the fabric of german life. it is not the easiest thing to do. david: i wonder what this has done in her own party, the christian democrats. >> he went to the party gath

welcome to bloomberg markets. from bloomberg world headquarters in new york, good afternoon. i am betty liu. here is what we are watching on this afternoon. stocks are writing the way up riding the wave of them down. forget about star wars, disney may find its next gold mine in china. we will hear from bob iger about company's opportunities and challenges in the world's most populous country. lead apple onuld leaveok for billions -- apple on the hook for billions. we are under an hour to the close of trade on this monday. we have your market check. we have been looking for direction today. gettinge not exactly at. we are still positive for the day but we are actually near session lows right now. the s&p 500 is up by one third up for 10th dow is of a percent. up by 150 points at the start of the day. up 40 points. into my bloomberg terminal, check out the imap function. you can see the telecoms and consumer staples are here. the biggest leaders right now. been the biggest library. it is now down by one third percent. let's go ahead and take a look at some of the makeup of the

♪ carol: you are listening to "bloomberg advantage" bloomberg radio.lcome everybody on bloomberg tv. also with me is matt miller of bloomberg television. manager has been beating all of his the past five years, neil hennessy, chief investment officer and portfolio manager at hennessy funds, $6.5 billion in assets under management, and he joins us on the phone from nevada. great to have you back on bloomberg. talk to us about this year. you have a great long-term track record. this year, though committed centrica, hasn't it? year has been extremely volatile, to say the least, carol. we have to proximally 30,000 dow jones points on the close and -- carol: crazy. neil: absolutely. half of it has been positive, the other half negative. we have not gone anyplace. what is really happening in the committeese is are continuing to make money and the cash flow is at an all-time high. they continue to make more and more money. i think you will see that continued into 2016 and beyond. my believe has been -- go ahead, matt. matt: are they doing it by growing sales

you are watching "bloomberg surveillance" on bloomberg television. ♪ francine: this is "bloomberg surveillanceorex report. you can see this longer stretch. we had that report showing inflation remaining near zero. the japanese yen synchrony, and then the rea -- and then the rand is pretty much unchanged. coming up shortly, it is "bloomberg " with david westin and stephanie ruhle. david, what do we have to look forward to? david: it is the eve of the fed decision and we will talk about what that all means, where it is likely to go, with, among others, steve ratner. we will talk about whether funds are closing or losing money. we will talk about that with margaret wheaton of black rock. we will talk about the potential winners, for example, walmart. all of that coming up on "bloomberg ." francine: be sure to watch "bloomberg " at the top of the hour. steve forms has been with us, the author of a new book "reviving america." tax, andavor of a flat says that this could bring us back to growth rates of 5% or 6%. i do not think any economists on any part of the political spectrum could b

this is bloomberg markets on bloomberg television. ♪ scarlet: welcome to "bloomberg markets."erg world headquarters in new york, i'm betty liu. stocks are swinging to the upside. data shows the u.s. economy is chugging along, even though housing is dropping. is the santa claus at rally here to stay? bonds are poised to outperform stocks for the second year in a row. a threepeat in 2016? does carl icahn's plan to break up i -- aig the far enough? an hour to go until the market closes on this tuesday afternoon. stks

welcome to bloomberg markets. from bloomberg's headquarters in new york, here is what we are watching. we haven't seen oil the slow in him a seven years. credit gets crunched, and other high-yield fund announces plans to liquidate. and a historic climate change deal, we will figure out the winners and losers. half an hour into the trading day. remy has the latest. human for last week we had a pretty volatile week from four from the past five days, decidedly down. alls&p 500, the nasdaq are in negative territory. earlier today was the pre-markets, and open into the positive. if that is any sign we will see more volatility today. the s&p did fall nearly 4% last week. stocks are heading for the worst since december. i want you to look at the imf function area this is a look at the performance at the s&p 10 sectors. we are seeing an acceleration of declines. seven of we are seeing the 10 sectors in the negative surprising that energy is down 7/10 of 1% because of what is happening in the oil price. >> the biggest stor

to bloomberg markets.ets with the abigail doolittle. what is weighing on nasdaq? abigail: the stocks are lower after last week's rally in the biggest sector wait the composite index is health care. we have the biotechnology index down close to 1%. even so, they are showing nearly technical percentages after not one to bear markets earlier this year. today, shareswn are plunging after this biotech company said an experimental antiviral drug failed to meet study.l in a critical shares are trading at a record low, so it is clear that investors have weighed in. it's going to be time for the street to clean up with 77% of analysts having a buy rating and the consensus price target on this single digit stock near $61. betty: think you so much. this year has been anything but normal when it comes to global weather patterns. almost every part of the world has been affected by el niÑo and the deadly storms in the midwest and texas. a meteorologist that joins us from sarasota to discuss the impact not just on this b

welcome back to "bloomberg market." time for the bloomberg business flash.f hiring is increasing the odds the fed will raise rates this month. employers added 200,000 jobs, more than forecast. fed chair janet yellen has been signaling the economy is strong enough to withstand a rate hike. norfolk southern told canadian pacific your offer not good enough. the railroad rejected the $28 billion bid. norfolk southern calls the offer grossly inadequate. that opens the door to sweeten the offer and take it to shareholders. the u.s. justice department accused the former leader of brazil's soccer program from getting kicked ask after signing an agreement. nike was signed with the brazil's national team at that time pay the company says it is not aware of any kickbacks at corporate in is with authorities. avon products investor barrington capital group bears urging the company to reject a reported deal to sell its north american business at a fire sale price. the stock has been moving substantially. it is up almost 11%. joining us now is lindsey rupp. first off, it s

welcome everybody on bloomberg tv to bloomberg radio.a record-breaking year when it came to auto sales we want to talk about that without a guest. he joins us from irvine, california. jack, nice to have a here. it was pretty much a crazy year. your research shows us it is a record year. how good was it for all the automakers? >> a very good year in terms of overall sales. it was a year ago in which the automakers had to work hard and pay a lot to get the sales they got. carol: what you mean work hard? jack: there was a lot of incentivizing going on. it was not easy to get these sales. money in terms of marketing? >> and incentives. car, here's $2000 on this here is a special financing deal, special lease offer. a massivee seen expansion of credit in the automobile space. they are keeping an i on the fact that the duration of the average low now is stretching well beyond 60 months. people will be paying full price on these cars when they are very much older cars. it is not quite subprime n close.g but dam c >> i always ask consumers, woul

you are listening to the bloomberg advantage on bloomberg tv.tick around. ♪ and welcomemorning back to bloomberg markets. let's go to the markets desk where ramy inocencio is focusing on disney. the stock is down. ramy: it's interesting. i loved the movie. i saw it on saturday in 3-d. sharesld expect disney would be in the positive. we saw that earlier this morning, but as you can see, now down 1.6%. with all that said, there is a lot of money floating around out there in the galaxy. "star wars: the force awakens" pulled in more than half a billion around the world, $517 million to be exact. that was here of in the u.s. and canada. movies,xpect to more toys, and theme parks over the years. we will see how this star wars saga and drama will keep going. that said, let's see how disney has performed compared to its peers year to date, up by about 14%. see its competitors, fox, viacom are down. stocks even after the lost its steam after espn lost some subscribers this year. some concerns over espn. thank you, ramy inocencio. staying on disney, chair

this is the bloomberg advantage. ♪ alix: you are watching bloomberg.lix steel agnes is your global business report. as 2015 comes to a close, one of the top voices on oil says people should be paying attention to iran in the coming year. $983 millionth a write-down. and apple is planning on taking its payment service global. let's start with the oil outlook for 2016. the eye a chess vice-chairman explains what he thinks people should be looking out for in the coming year. guest: sanctions will be lifted on iran in january to help the president in the parliamentary elections. that is the next big shoe to market.the oil is it half a million barrels a day or a million barrels a day? that is what i would be watching. bnp paribas is writing down some of the goodwill related to what units. france's against bank is setting aside more capital for the italian corporate union -- corporate unit. they reiterated their plan to pay 45% of their profit in s.vidend japan's central bank announced it would not expand its main stimulus target. mistake, japan is heading i

to bloomberg markets.t is time for the blue -- bloomberg business flash. the biggest business stories in the news right now. 73 more companies joining the climate change fight. among them, amazon and dupont. promising to bible energy while cutting emissions and water use. 154 companies have signed the pledge. petroleum will have to pay almost $160 million for its role in the 2010 gulf of mexico oil spell. they were a part owner of the well that blew up, killing 11 people. the u.s. government asked that they be fined more than $1 billion. despite the first internet buying, the average amount americans spent online actually dropped during black friday weekend. they placed smaller orders when shopping with them. america's online spending yesterday set a record approaching $3 billion. you can always get more business news at bloomberg.com. i want to head back to the market desk with julie hyman and a check of the company movers. maybe it is hard to buy a whole kitchen appliance on your mobile phone still. tric

welcome to "bloomberg markets." betty: welcome to "bloomberg markets." good afternoon.ast trading day of the old year, 2015. doubt turned negative for the year and the s&p clinging to yearly gains. economic hotspots in 2016, from russia's efforts to boost its economy to argentina's new president promising reform. are any of these countries good places to park your money? hedge funds have had a rough 2015, with seneca the latest fund to return money to investors. is this a game changing moment for the hedge fund world? markets are closing in less than an hour. on to head to the markets desk, where julie hyman has the latest.

"bloombergtening to advantage" on bloomberg radio on bloomberg tv. markets to come. ♪ alix: you are watching bloomberg television. i am alix steel. time for a look at some of the biggest business stories in the news right now. the u.s. economy expanded at a 2% rate in the third quarter, gaining christensen product followed by an advance in the second quarter. the number was supported by consumer spending as this is struggled to sell to overseas customers. home sales plunged sharply in november. the national home association of realtors says the existing home collapsed 10.5% to a seasonally adjusted annual rate of 4.70 6 million. in 19 monthsakest but overall, sales of existing homes are on track to rise roughly 5% for the entire year. is posting second quarter sales that trailed analyst estimates. the results were hurt by defining revenue from the household brands. earnings per share came in at $.71. 20 shares were up 13% since the beginning of the year and 11% in the last 12 months. that is your bloomberg business flash. let's head over to the marke

you're watching "bloomberg surveillance" on bloomberg television.treaming everywhere. ♪ erik: good morning. i am erik schatzker. it's time for a bloomberg business flash. tonie: according billionaires, the wealthiest 400 people saw their did worth the klein by $19 billion. his fallen to number five on the list. he lost 25% of his market value. jpmorgan will be the first of the big banks to pay more interest after the fed decision to raise rates. only the biggest institutional clients will have their rates raised next month. they will affect operating deposits which are less likely to be with ron in a crisis. the natural gas company has halted dividend payouts. of everycutting one six employees. they've lost 70% of market value this year. you can expect a lot more of that. justin i do still with us. he is coming to us from london. what happens with the bank of england and rates in the u k? people should be prepared for a rate increase it any time. justin: that's right. relativelyhave been dovish. we think they will be raising rates relatively soon. i

"bloomberg surveillance "bloomberg surveillance tom: "bloomberg surveillance good morning, everyone.ne. "bloomberg surveillance." our kindest greetings on christmas eve. we go across the island of manhattan, columbus avenue with the christmas glow. and of course what can you say about the change in retail landscape? there is a starbucks, which is exactly what you want. starbucks cares about four exchange with our global platform. they are not caring much this morning, the churn in the market. tthhe yen in. one of the great changes next year is whether the yen -- ta lk about global distribution, center tennessee, sterling low. with "bloomberg ." david: we will be taking a look at markets and be talking about what went wrong with hedge funds to2015, looking forward 2016. we have two experts, one from inside bloomberg, one from outside, about why janet yellen got it wrong, even though larry recordid she got it and tom, i want to wish you a very special day tomorrow on christmas. tom: very good. david westin. we looked on line, we looked at luxury. let's look at one of the giants of

david: from bloomberg headquarters in new york, this is bloomberg markets.urning to the movement broke just a few moments ago, ken feinberg has been named to look into managing volkswagen's emission claims. he has a lot of experience with .ettling complex litigation most recently on the g.m. ignition switch done. ken feinberg the named to handle the ignition programs. western to brendan greeley at the news desk. president obama traveled to virginia to meet with officials from the national counterterrorism center today. he says the u.s. is in a new age of dealing with terror threats. 9/11, we obama: since have taken extra ordinary steps to strengthen our homeland security. our borders, ports and airports are -- our aviation security, including enhanced watch lists and screenings. we have gotten much better thanks in part to the people in largeoom, thus preventing complex attacks like nine/11. -- brendan: mr. obama said there was no particular terrorist threat right now. secretary of state john kerry said in a letter to the foreign relations committee that ira

this is "bloomberg surveillance." ♪ erik: good morning. this is "bloomberg surveillance."ou are looking at london. celebrating the boxing day holiday. vonnie: thank you so much. iran is putting pressure on the price of oil today. they are repeating the goal of boosting exports after sanctions are lifted. they will have the lowest average annual price of 11 years. saudi arabia may tighten its belt because of something oil prices. they will unveil their first annual budget. it may have expenditures. a deficit of post 20% of gdp this year. another milestone for the new star wars. it has grossed more than $1 days andorldwide in 12 that's the fastest any movie his reached that mark. in 2000ought star wars 1200 that is our business/. we were just talking about it. you can't talk about it in public because nobody wants to be the spoiler. thing you say is have you seen it? then you have to talk about something else if they haven't. you guys have seen it? we can talk about it off here. we won't spoil it for viewers. vonnie: i thought it was amazing. it took been that long. michael:

you're listening to the bloomberg advantage on bloomberg radio and bloomberg television.ack in a moment. ♪ betty: good morning and welcome back. it's time for the business flash. some of the biggest business stories. deutsche bank has identified $4 billion insists she's transactions related to its russian operations. to $6mount is in addition billion in mirror trades under investigation. they have like as much as $10 billion in traits that may not have been added or money laundering it. 300,000 of itsg older cars because a headlight might turn off. the models are the crown victoria and mercury grand marquis. it knows of 11 crashes and one minor injury because the problem. he has lost nearly $20 billion. that's about the size of the economy in honduras. he is the fifth richest person. he has gone down from third earlier this year. that is your bloomberg business flash. not bad. i want to head to the markets. the movers. we're looking at nike interplay. i am going to look at chipotle. a little bit early for lunch. people are not going to chipotle anyway. the shares are havi

eastern on bloomberg tv.aken steps to ensure fiscal peace in washington through most of the next year. the house and senate have asked a $1.1 trillion spending measure that are virtually government shutdown. it also lists a 40-year-old ban on crude oil experts. goes to president obama. meanwhile, a majority of repair americans of the race relations as worth than at any other point in the last 20 years. the percentage of latinos who the race relations as bad or very bad jump to 16 was over the last year. jared fogle has been moved to a low security prison in oklahoma city. undergoing psychological treatment. federal health officials are imposing a ban on the use of tanning beds for anyone under the age of 18. it would require 10 good users to sign a consent form acknowledging the risk of skin users to tanning bed sign a consent form acknowledging the risk of skin cancer. that is the first word news. scarlet: china's economic condition deteriorated across the board in the fourth quarter. that is according to a

"bloomberg markets".he department of agriculture has raised its corn surplus forecast. increasing competition from brazil and canada takes a bite out of exports. supplies may corn be 1.78 5 billion bushels, an increase from last month's estimate. puerto rico's governor may call a special a session to approve a measure that allows the islands electric company to restructure its that. the deal struck between the puerto rico power authority and bondholders could fall apart without legislative approval. the u.s. supreme court is considering reinstating a law that would let the utilities restructure their obligations. boston college says a number of students sickened last weekend to written his -- has risen 120. the boston public health commission says the illnesses were likely caused by nora virus . results are not expected for a couple of days. let's head back to our markets desk. >> on going to talk about some of the winners. .e will start off with wynn this is after the founder bought one million shares fo

"bloomberg surveillance," boston, new york. bloomberg surveillance in washington. ♪ nike is another quarter of double-digit sales growth. 2020, oil isinto off for the week. david: economist at the biggest risks the u.k. economy is a brexit. david miliband ways and. ♪ stephanie: it is wednesday morning, we're in new york city and bloomberg world headquarters you're watching "bloomberg ." 'david: helping us kick things off as david kelly. also come with kyle from bloomberg news. shopping done? that is the big question. stephanie: is it being done to purchase gifts?

that's coming up next on bloomberg markets on bloomberg television. >> welcome to bloomberg markets.berg world headquarters in new york, i'm ready lose. here's what we are watching at this hour -- a market rally underway. reboundingsurging, a crude oil as junk bonds help to ease investor fears ahead of the fed decision tomorrow. just 23 hours away now from the fed's potentially historic decision. what going to be the impact on investors? and the state of u.s. residential vacancies to explosive growth in cities like atlanta and denver, he would -- we will hear from to real estate titans. we are about one hour away from the close of trade. i want to head to the markets desk for the latest on the markets.

eastern on bloomberg tv, bloomberg.com, and bloomberg radio.: tumultuous times in the junk bond market. what is the role of etf's, how do they contribute to it? ♪ alix: welcome back. i'm alix steel. scarlet: i'm scarlet fu. prices hover around $36 a barrel, consumers are coming out ahead things to cheaper gas prices, which is good news for retailers like walmart. it does bring some relief. has struggledk mightily since october. joining us now is shannon pettypiece. path -- ae direct drop in gas, i say that walmart. shannon: first of all, walmart has their own private fleet of trucks and drivers. unlike a lot of retailers that outsource that, any savings of gas might be slower to get passed along. walmart gets those benefits directly. 80% of their merchandise it shipped from their warehouse to their stores with their drivers. walmart customers tend to train slightly lower income. see lower income customers a savings from gas money, that is a bigger impact. they spend a bigger share of their income on fuel, so their buying power is greater when y

bloomberg -- and bloomberg is caught tia. -- caught tia. on venezuela, tell us the significance.a: we have to see how much majority they get because if it is less than 66%, people are not that bullish and a lot of it has to do with the symbolism behind this, and exactly how far they can go in terms of weakening the president. any majority can call for a recall referendum but the stronger they have in congress, the more they can do. they can appoint new supreme court officials, change the constitution, and go after stronger problems. betty: as someone who follows closely not just events in venezuela, but china and other emerging markets, they have been roiled by the stronger dollar. when you look at what happened in venezuela, what do you say? >> they specifically are taking more of a hit from the surge in the u.s. dollar that we have seen so far. i agree that the u.s. is going to be so so in the disciplined investor will find valley -- value in some of these undervalued asset classes. i think there are some opportunities. we have never considered 2015 a real high probability of d

tom: one of the key observations on bloomberg really -- on bloomberg radio. there could be elements to take us back to something like the plaza accord dollar strength of the early 1980's. he did not predict that but he said there is a set up to get the weak euro with significant dollar strength back to another era. toncine: and brings us back stop talking about parity. hans nichols with a great interview with the ceo of vw. let's get back to you and cameron watt. -- with ewen cameron watt. it probably more a repetition story. here is vw, they are going to be engulfed by this. , when the car industry is about to go through another major technology change as it moves toward driverless cars. i can't help wondering how much of vw's corporate attention is going to be sucked away from that important product of elements. to the ceo. speak he joins us live from switzerland. this is number experiments -- this is bloomberg surveillance. ♪ francine: this is bloomberg surveillance. i'm francine lacqua. tom keene in new york. we have been talking about china and the fed.

bloomberg radio. ♪ betty: welcome back to "bloomberg markets." am betty liu. time for the bloomberg business, the biggest business stories and that is right now. according to the national association of realtors, the index of pending sales dropped .9% following the revised an gain of .4% last month. internet providers are making good on their advertising promises about faster download speed. that is going to an ftc report, which shows consumers are mostly streaming video online at the speed they are paying for. the downside is there was a growing chasm between those with fastest services and those in rural areas whose options are more limited. twitter is getting tough on violent threats and hate speech will stop the social media company says that users found guilty of sending the messages will be suspended or banned. accounts seen as intolerant on race and religion will not be allowed as well. a milestone for india. the number of mobile phone subscribers there has just passed one billion. china is the only other country with that many. they are f

scarlet: it is all next on "bloomberg best." hello, i am scarlet fu. welcome to "bloomberg best." a weekly look at the most interesting news and interviews. here is a look back at the week's top headlines. d, high-yield credit fund lucent is shutting down. he is going to return the $900 million they got under management. stone lion, we heard about 3rd avenue, the mutual fund putting the gates up. gentlemen, what is going on in the high-yield market? >> i will start. >> go ahead. >> this is something a lot of folks have predicted for a few years now. you have more of a retail base in high yield than you used to. flows are more volatile. and so you have some price volatility and liquidity that you do not have an prior cycles when you had more broker involvement in trading. dodd-frank has affected the high-yield. >> are we mistaken when we blame this on the vocal rule or dodd-frank? >> when you buy high, you are committed to selling low. that will play out again and again and again. i think the volga role has something to do with it. every problem is accentuated because you do not ha

welcome to bloomberg "markets." ♪ from the bloomberg world headquarters in new york and i am scarletu. here's what we are watching. crude oil flirting with $36 in $36 a barrel. dow chemical and do point have terms in the largest deal ever in the chemical industry. federal regulators have to ok it. things could be facing lean years. are there should thinking they will struggle with possibility until 2020. we will tell you why. first, more on today's market activity. the latest. we had a down week prior to yesterday. we saw a little recovery in the stock indexes prior to selling. >> now the markets, after session lows down across the board, 1.5%. the falling price of oil is bringing down energy stock. 1.4%.p 500 is down the nasdaq is down 1.6%. we did get good u.s. retail sales data and consumer sentiment. as well as lower unemployment numbers. that is not to turn this around. for every one stock of, 8 stocks are down. for the week on this friday, the worst performance since november 13, we are down by 3.5% and 70 points. the index is going 20 six sessions without back to back games. t

more bloomberg markets, next. ♪ bloomberg world headquarters in midtown manhattan, you are watching bloombergts. now let's check in on the first word news with ramy inocencio. go over to iraq and a u.s. official in the country says coalition airstrikes killed 10 islamic state leaders over the last month, including several link to the paris terror attacks or other plots against the west. colonel steve worn it says they were mainly killed by drone strikes in iraq and syria. he said at least two were killed in the attacks that relate to the pairs attacks. >> we were striking at the head of the snake. we have not severed the head of the snake just yet, and it still has fangs. we have to be clear about that. there is much more fighting to do. ramy: he said most of those killed of those killed appeared to be mid middle -- mid-level leaders. in brussels, two people arrested as suspected terrorists. police say they seized military training gear and islamic state propaganda. the white house plans to hold a state dinner for justin trudeau in march. he took office in november days before president obama

this is bloomberg surveillance. ♪ tom: good morning. bloomberg surveillance.ge yesterday of new york. he talk about global warming, it has been a perfect autumn. say that no ice on the streets. tom keene in london with caroline hyde. this is been the topic of london and all of the united kingdom. caroline: indeed. syria. it is phenomenal. u.k. has voted for bombing within syria. overnight islamic state -- we have had the first airstrike. favorers voted 397 223 in to join allies in the fight against extremist groups. where joined by then you oh donald. it looks like a success for david cameron. >> it was a triumph. 66 labor and pe voted in favor of that motion. the big question is for labor leader jeremy corbyn. caroline: he is the shadow leader. he is the head of the labour party. them.the tractors amongst you're seeing this is not a david cameron prime minister that went up. this is the shadow foreign secretary time to shine. a: absolutely. he gave the speech of his career. theet out triumphantly opposing view to his leadership and he was applauded by both si

bloomberg "surveillance". ♪ jonathan: welcome to bloomberg "surveillance".f the great stories you can check out on bloomberg.com. according to credit suisse, russia's budget revenue is suffering because of the ruple. the currency is overvalued. unit may havel found a buyer. one offer is being considered. menus in new york. new york city's new role requiring restaurant chains to post warnings over high sodium dishes is facing backlash by the national restaurant association. they have banned trans fat and required menus to list calories. tom: shake shack to suffer. the line out the door is only two football fields long. a little bit. it is amazing to see how the restaurants are going back to basic foods. i don't see much more ladee dah. there are less micro portions. jonathan: i went out to eat last time with tom keene. tom: david brooks always interesting. addressing paris. the meetings. it is a very nuanced essay. here is a bit. "you are asking richer countries to pay hundreds in "reparations" to india and such places they can go on to burn mountains of coal

we welcome everyone to bloomberg tv, this is the bloomberg advantage on bloomberg radio.lk about the men's underwear market. as i mentioned to the audience, a $3 billion market. berger is the cofounder and chief executive officer at mack weldon. i understand you are on a mission here. >> absolutely, this is an important product category. it's the first thing we put on every morning and a lasting we take off at night. carol: it is a crowded market, though. is calling more attention to something we believe is really important. owny company has its particular angle on things and we feel strongly in our position as part of innovators, as something that makes us unique from everyone else out there. y: who are the leading players in this market? >> mass-market players like fruit of the loom, jockey, control a lion's share of the market. our category, mass premium price point is more of a determined store brand, with calvin klein being the market leader. why do you think the men's market needed another player? things. the first is the way the products are sold. when you sell som

coming up in the war of bloomberg markets. -- more of bloomberg markets. ♪ david: welcome back to bloombergts. while political outsiders donald trump and ben carson continue to lead the gop in the full's detention is -- the attention is moving to marco rubio and ted cruz. let's talk about the contours of this fight between marco rubio and ted cruz. we sat down with ted cruz on the trail in iowa. talk to me about what he is saying when it comes to foreign policy. >> this has become the major battleground for some major factors. the fight between these young senators who are not necessarily fighting for the same voters across the board enters on foreign policy. interventionists party, who says he is not with rand paul, an isolationist, but he does say he is middle ground. he was a very high test for using u.s. power abroad. that debate of the role of the u.s. military is the one country is having come as it is red-hot within the republican party nomination now. david: ted cruz very him to hillary clinton. is too quick to use american power overseas. there is a wariness within this certain, a

scarlet: from bloomberg world headquarters. it is "bloomberg markets." i am scarlet fu. the commodity index job to its lowest level since 1998 since yesterday. is there a turnaround? yahoo! is scrapping plans to spin off alibaba. what is next? in the deepest recession in 25 years with inflation running into double digits. we will hear from two central bank directors who call for an interest rate hike. first, we want to get more on today's market activity. let's head over to ramy inocencio. now are wellkets off the session lows, giving up all of the gains that we saw earlier. the turnaround started around 10:30 when the u.s. crude inventory numbers came out. it has been up and down for the markets. the s&p 500 is in the negative down .25%. it was positive for most of the day. the dow is raising its positive number, up about .10%. of s&p 500 --p materials are the biggest leader, up i 3.3%. this is because of talks of the potential merger between dow and dewpoint. the biggest percent gainers. energy is higher, number two. up by about 1.5%. utilities are up by .5%. let me ge

bloomberg radio.ike regan, a member of the u.s. stock team, and on the phone, from bloomberg intelligence to talk about the housing data. mike, let me start with you. we have a continuation of that positive momentum that we saw yesterday. mike: i think that is the keyword, momentum. yes, the economic data was decent, not really blowing anybody out of the water. decent economic data, but it is that funky time of year. in the most time wonderful and funkiest time in the stock market. i hate to even say this because it sounds so ridiculous, but there is something to this notion and people debate what the reason is. the traditional reason you've read in the stock trader's almanac is, well, for one thing, people just get in a bind kind of mood this time of year but you have year-end bonuses, active fund managers trying to show performance. all sorts of names that sort of conspired to cause this end of your strength. it is not necessarily look like january or december will be as strong as it normally is, bu