carol: this is "bloomberg businessweek." ♪ jason: welcome back to "bloomberg businessweek." l: you can also listen to us on the radio on sirius xm and in new york, boston, washington dc -- >> in the bay area and in london on dab digital and on the bloomberg business app. our focus this week's on looking around the corner with insights from the annual bloomberg year ahead summit. >> duke energy's lynn good spoke with joel weber. the conversation very quickly turned to climate change. lynn: the issue really starts with the united nations report a few weeks ago. we have been focused on carbon reduction for over a decade. climate change is an issue that is going to be important to our customers and communities and investors. the important thing to recognize -- we are building on a solid foundation. our carbon emissions are down 30% at duke. we are on track to meet our commitments around standards and we will continue. we have been able to use natural gas and renewables. this is front and center. i think the focus of our industry remains very high. joel: let's talk about what that

♪ carol: welcome to "bloomberg businessweek." am carol massar at bloomberg headquarters in new york. this week's special issue focuses on businesses and companies and industries working on improving what they do. plus, it is the end of the blankfein era at goldman sachs. we take a look at the legacy. but we start in the economic session this week. many experts are predicting a global growth slowdown in the coming year. that didn't deter executive editor for economics simon kennedy from making a bull case for 2019. he joins us from bloomberg headquarters in london. let's first start, it is a pretty depressing environment right now. that is the psychology out there right now. simon: it is important to differentiate what we are talking about when we talk about bull and bear cases. this isn't a market's call. if i could make market calls, i would be a rich man somewhere else. this is very much kind of a case for the defense for the global economy. the market seems to be testing that case as we enter the new year. but in some ways, the

this is "bloomberg businessweek." ♪ carol: welcome back to "bloomberg businessweek."m carol massar. joining jason kelly and me for bloomberg businessweek every day on the radio. you can also catch up on our daily show on our podcast on itunes soundcloud and bloomberg.com. this week's special focuses on good business. the story in the finance section dives deep into an investing trend that claims to be doing good. it stands for environmental and social governance, in other words, funds that promote a better world. in fact, they are often not what they are cracked up to be. we spoke with rachel evans. rachel: you'll find that some of these things are not as much oriented with of environmental and social items as you think. one fund had put exxon mobil as its largest holding. it is also the one being sued by the new york regulators for lying to shareholders about climate change costs, so it has a few issues on the environment and govern in size -- government side. exxon mobil and phillip morris is mixed in there, as well, and what we look at in this story is for an avera

this is "bloomberg businessweek." ♪ carol: welcome back to "bloomberg businessweek."oin jason and me for bloomberg businessweek every day on the radio. you can also catch up on our on itunes and on bloomberg.com. special focuses on good business. that -- about a business that claims to be doing good to promote a better world. but sometimes as such businesses are cracked up to be. crackedot what they are up to be. fund had put exxon mobil as its largest holding. it has a few issues on the environment and governance. phillip morris is often in their. for investors, is this what they expect to be buying? wouldn't -- carol: you wouldn't normally think about these companies when it comes to esd investing. -- esg investing. rachel: this is good for people to be thinking about it and about what actually constitutes esg. when you talk to the index providers, some are more dialed up then dialed down. >> that is how so many people are investing in the market right now. investors trust their providers to pick the right stocks. they think this is an esd friendly investment. where

carol: welcome to "bloomberg businessweek." we're here at bloomberg's global headquarters in new york. carol: we have conversations from the year ahead summit. >> some of the most influential figures in his miss and politics spoke at this event. we talked with the mayor of flint michigan about the aftermath of the city water crisis. >> and doris kearns goodwin. dynamicoulter made a person tatian on investment opportunities he sees in 2019. this was something recently presented privately to his own investors. >> and cannabis and the power of influencers. we have been talking about big data for a while. it is extraordinary. the tagline we are using to , we are our thinking seeing for a couple of years how this is being used more broadly. i am thinking about the impact of data, where we are in the cycle. the first oil well drilled was in china. era is ourit a new ability to gather and refinement. when you have a new industry that shows up this early consolidation, we have this massive consolidation in the world of data. created.ita

is manus: carol: welcome to bloomberg businessweek. we dive into the second annual bloomberg 50, the people driving change this year. plus, the cash trade dragging down general electric. carol: with the financial markets in turmoil. jason: federal reserve officials are in search of the neutral rates. we explain what that is and why it matters. the chairman of the fed gave a speech in new york in which he said, interest rates were just below neutral. the stock market took off. the dow jones went up more than 600 points. everybody said, maybe the fed is turning dovish, maybe there will be fewer hikes for the interest rate than expected. saying, did heed really mean what he said? carol: the neutral rate is not an exact number. we hear this with our guests, about a goldilocks economy, the spot where everything is moving along. inflation is low and stable. everyone who wants a job has one. we are at a goldilocks economy. why do we need a stimulus anymore? that is the debate the fed is going through right now. inflation could start to fall ba

♪ carol: welcome to "bloomberg businessweek." i'm carol massar. jason: i'm jason kelly. are joining you from bloomberg's headquarters in new york. carol: the u.s. and china continue to talk trade, but are they making real progress? jason: it is the one-year anniversary of president trump's tax bill. the big cuts came with big promises, but the jury is out on what they have done for the economy. carol: theresa may promised there would be a vote in parliament this weekend. on monday morning, she announced the critical vote would be postponed. jason: on wednesday, parliament held a vote of confidence on her leadership. she survives, but time is running out for her to make a deal with the eu. carol: bloomberg's senior executive editor, john fraher, wrote about brexit. he joins us from london. john: what i tried to do with this piece was take a look at 10 years out from now, and imagine and think through the consequences of what sort of country britain might become 10 years after brexit now. a lot of that is how you imagine britain to look in 10 years time. a lot of it depend

carol: welcome to "bloomberg businessweek." i'm carol massar. jason: and i'm jason kelly. we are here at bloomberg global headquarters in new york. carol: coming up, we zero in on conversations from bloomberg's annual the year -- ahead summit. jason: some of the world's most respected figures in business and politics spoke at this invitation-only event right here at bloomberg. we heard from iac's joey lever and also karen weaver in the aftermath of the water crisis. jason: plus, historian doris kearns goodwin on presidential leadership in the past and what it might tell us about what is ahead. carol: and of course, we have to talk about the year ahead when it comes to investors. that was an essential topic and where we start this week. jason: tgp group's co-ceo made a presentation on investment opportunities he sees in 2019. it is a dynamic run through, something he recently presented privately to tpg's own investors. >> we have been talking about big data for a while. but this has gone from hype to reality. this is big, this is extraordinary. but it is hard to figure out.

carol: welcome to "bloomberg businessweek." i am carol massar. jason: and i am jason kelly. we're here at bloomberg's global headquarters in new york. carol: this week, we zero in on the future with conversations from bloomberg's annual year ahead summit. jason: some of the world's most respected figures in business and politics spoke at this invitation-only event. carol: we heard from ceo's from duke energy and others. also, karen weaver of flint, michigan about the aftermath of the city water crisis. jason: plus, doris kearns goodwin on presidential leadership in years past and what that might tell us about what is ahead. co-ceo jim coulter made a dynamic presentation on dynamic investment opportunities he sees in 2019. it is a fast run through the biggest themes, something he recently presented privately to tpg's own investors. carol: and of course we are talking about things like cannabis and the power of influencers. jason: kardashians. carol: also, big data. >> we have been talking about big data for a while. but it has gone from hype to reality. and to be clear, it is

carol: welcome to "bloomberg businessweek." jason: we're here at bloomberg's global headquarters in new york. carol: we have conversations from the year ahead summit. >> some of the most influential figures in business and politics spoke at this event. we heard from the ceo of duke energy and the mayor of flint, michigan about the aftermath of the city water crisis. >> and doris kearns goodwin. she speaks about presidential leadership in years past. jim coulter made a dynamic presentation on investment opportunities he sees in 2019. this was something recently presented privately to his own investors. carol: and cannabis and the power of influencers. jason: kardashian. carol: big data. >> we have been talking about big data for a while. it is extraordinary. it has gone from hype to reality. it is hard to figure out. the tagline we are using to solidify our thinking, we are seeing for a couple of years how this is being used more broadly. data is the new oil. i am thinking about the impact of data, where we are in the cycle. oil

carol: welcome to "bloomberg businessweek." i am carol massar. jason: and i am jason kelly. we're here at bloomberg's global headquarters in new york. carol: we zero in on the future with conversations from the year ahead summit. jason: some of the most influential figures in business and politics spoke at this event. carol: we heard from ceo's. we talked with the mayor of flint michigan about the aftermath of the city water crisis. jason: plus, doris kearns goodwin on the past and what that may tell us about the year ahead. jim coulter made a dynamic presentation on investment opportunities he sees in 2019. it is a fast run through the biggest themes, something he recently presented privately to his own investors. carol: and we are talking about things like cannabis and the power of influencers. >> we have been talking about big data for a while. but it has gone from hype to reality. it is big. it is extraordinary. it is hard to figure out. let me give you the tagline we are using to solidify our thinking, data is the new oil. let me take you through how i am thinking about

this is "bloomberg businessweek." ♪ ♪ jason: welcome back to "bloomberg businessweek."son kelly. carol: i am carol massar. you can also listen to us on the radio on siriux xm, channel 119. and on a.m. 1130 in new york, 106.1 in boston, 99.1 f.m. in washington dc. jason: and a.m. 960 in the bay area. and in london on dab digital, and on the bloomberg business app. carol: president trump signed the tax cuts and jobs act one year ago, and since then, the u.s. economy has been -- jason: the correlation is not causation, going back to your english and economics classes. what economic effects, positive or negative, can we actually trace back to the tax cuts? we have a chart for that. carol: a good chart this weekend. it takes a look at gdp growth accelerates, but at the same time, less tax revenue coming in. jason: the deficit ballooning. that plays through to businesses. they are paying less in the, and -- paying less in taxes, and so, what does it need for earnings? for that, we go to taylor riggs. taylor: if you pay less in taxes, you have more earnings to retain for your

♪ carol: welcome to "bloomberg businessweek." >> joining you from bloomberg headquarters in new york.> we dive into the second annual bloomberg 50, the people driving change this year. jason: plus, the cash trade dragging down general electric. >> a rough week for investors. the financial markets in turmoil. jason: federal reserve officials are in search of the neutral rates. peter explains what that is and why it matters. >> the chairman of the fed gave a speech in new york in which he said, interest rates were just below neutral. the stock market took off. the dow jones went up more than 600 points. 2.5% gain. everybody said, maybe the fed is turning dovish, maybe there will be fewer hikes for the interest rate than expected. that is good for stocks. good for the economy. everybody started saying, did he really mean what he said? are we over interpreting? carol: the neutral rate is not an exact number. it can move. we hear this with our guests, about a goldilocks economy, the perfect spot where everything is moving along. peter: inflation is low and stable. right around the target o

a lot more ahead on this edition of "bloomberg businessweek." s bloomberg. ♪ uma: i'm uma pemmaraju with your bloomberg business flash. here is what is happening. it has been a rough year for black rock shareholders. it is down 26% with investors cashing out or staying on the sidelines. even with a decline, blackrock is better off than many of its competitors. a gauge of fund companies and custody banks tumbling 29% in 2018 with stock market volatility at its highest level in three years. tighteningws, india rules for an e-commerce company care the company's trade ministry saying online retailers must treat all vendors equally by providing the same terms. is an attempt to stop predatory pricing and deep discounts that threatened the domestic retail industry. according to indian news channel, amazon and flip card contest of the new rules. china's industrial profit is declining for the first time in almost three years. the effects of this slowing economic growth and falling prices and the trade war with the u.s. are now starting to surface. the nov

. ♪ ♪>> looking back to bloomberg businessweek. >> you can also listen to us on the radio on sirius xm 119 and a.m. 11 30 in new york. >> in the bay area and london and the bloomberg business app. our second annual bloomberg 50. it's a look at business, entertainment, finance, politics and science and technology. compliment, they were particularly noteworthy. families are the people who made the biggest impact. they are not necessarily always people you've heard of. that's what we go for here. >> you point that out because you don't just have the chairman of the federal reserve. you have this cohort. >> there's more than one person making this decision. we were able to sort of look at .hem holistically we wanted to understand the decision-making behind all of their complex processes. instead of going out there and try to be more open in the decision-making, -- >> -- as well as the ceo of patagonia. you are not going to find a lot of those. >> a lot of those are interesting in their own ways. they are very activist, they are defenders of the environment. they have sued over the decision

more ahead here on "bloomberg businessweek ." y alongside carol massar and this is bloomberg. ♪ i'm all about my bed. this mattress is dangerously comfortable. when i get in, i literally say ahh. meet the leesa mattress. a better place to sleep. this bed hugs my body. i'm now a morning person. the leesa mattress is designed to provide strong support, relieve pressure and optimize airflow to keep you cool. hello bed of my dreams. order online. we'll build it box it and ship it to your door for you to enjoy. sleep on it for up to one hundred nights and love it or you'll get a full refund. returns are free and easy. i love my leesa. today is going to be great! find out why so many people love the leesa mattress. then try it in your own home or at any west elm store. order now and save big. for a limited time, get $150 off - and free shipping too. just go to buyleesa.com today. you need this bed. uma: hello, everybody. facing a deadline, tesla is adding big names to its board of directors. catherine wilson thompson and larry ellison.

this is bloomberg businessweek. ♪ this is bloomberg business flash.ting its corporate governance code. two companies holds stakes in each other. they will examine whether the purchase of -- purpose of each holding is appropriate and whether the benefits and risks cover the cost of capital. nissan is holding a 50% stake in run out. ceo says the -- speaking to reporters in moscow. he is discussing his industry stuck -- struggles. he says that under a conservative scenario, he sees oil prices hovering between $50 and $53 per barrel. .old is rallying bullion climbing is much tenths of a percent today. that extends at week's gained. havengs in gold etf's expanded by more than 100 tons. >> christopher aleman says he does not see a recession coming. he spoke to caroline hyde last week and talked about the signs he sees in the economy. i cannot predict with the latter half of 2019 will do. gdp to a go from a 3% negative that quickly. it is all about the u.s. consumer. the government shutdown, all of these things, the tweets going on. what i am watching is how

you have been listening and watching bloomberg businessweek. ladies and gentlemen, thentle winner of the stirling prize for architecture 2018 is the bloomberg building! caroline: bloomberg's european headquarters was awarded the stirling prize for the u.k.'s best new building by the world -- the royal institute of architects. on the one-year anniversary of its opening, we look at bloomberg's office in london as a model for workplaces of the future. welcome to this program about bloomberg's new european headquarters.

you been listening and watching bloomberg businessweek. >> i'm taylor riggs in new york in for emily chang. this is "bloomberg technology." who will outperform and 2019? gene munster says apple will beat out it's tears and next year. plus, will be tech fizzle out -- bittech fizzle out in 2019?

coming up, a special tv and radio edition of bloomberg businessweek. that starts at 2:00 p.m. is bloomberg. ♪ alix: oil terrible quarter. crude falls the most since 2014. is the bottom in or sure you brace for more downside? inces hit a six month high gold as investors lose confidence in fed rate hikes. let the sunshine in. i speak with john berger of sonoma energy -- about opportunir battery storage in 2019. ♪ alix, and welcome to "bloomberg commodities edge." 30 minutes focused on the companies, the physical assets,

us.n: please stick with later, a special edition of bloomberg businessweek. my partner and i will take you to the markets as u.s. stocks trying to rebound on this volatile market. this is bloomberg. ♪ i am kevin cirilli at the white house. jason: i am jason kelly. on,ere is what is going homeland security secretary trying to travel to the u.s. border with mexico to review their care of migrants children after a guatemalan boy died in the custody of u.s. customs and border patrol with his father. the eight-year-old becomes the second migrant child to die in the custody of the agency this month and homeland security officials say it has been more than decade since a child has died in border patrol custody. businessthe first full day of the partial government shutdown and workers have been spared largely inconvenienced because government is normally closed on weekends and federal employees were excused from work on christmas eve and christmas day. partsent trump says the of the government not closed will stay that way until the democrats agree to wall the u.s.-me

your writing an article for "bloomberg businessweek," it will explain all of this.amazing is how little volatility was for so long. it was below its long-term average for trump's first year in office until october. his started to edge up in the day before christmas its fight -- it spiked. the vix spiked very high compared to 15 through the summer and fall. you wouldnd of what expect great a volatile president and like you more just like him, he is a boundary breaker, he shakes things up. you would expect that to be associated with higher volatility. , volatilitymarket generally as low and you get a gradual steady march upward. when volatility breaks out, it tends to be with the markets are falling and they have trouble finding their new footing and that's exactly what's happening. volatility rolls along with the decline in the stock market. why would trillions of dollars set themselves up to do the same trade at the same time with the least amount of liquidity? ater: which is what you get the end of the year. melvin subject to the volume today but i'm assuming it's

jason, tune into bloomberg businessweek. >> there is always more on your terminal at gtv . toronto and new york, this is bloomberg. ♪ i'm mark crumpton with bloomberg's first word news. british prime minister theresa irish primeks with minister leo broad car on the sidelines of the european union summon -- summit in brussels are there was no sign of a breakthrough over the backstop that would guarantee there would be no hard border in ireland when the u.k. leaves the eu. after the talks, the prime minister said some of prime minister may's proposal but that others were "ethical." -- difficult." of theas been the gift u.k. government and the parliament to take the threat of no deal off the table. it is possible the u.k. wishes to revoke that, to seek an extension of article 50. that is the u.k. parliament to have more time to come together and decide what they would like. minister the red curtain made clear that there would be no renegotiation of the withdrawal agreement but added the eu might be able to give britain what he called a greater assurance that speedy talks on a

this is bloomberg. ♪ carol: welcome to "bloomberg businessweek." i'm carol massar. 'm jason kelly. we are here at bloomberg world headquarters in new york. carol: coming up, we zero in on conversations from bloomberg's year ahead summit. jason: some of the world's most respected figures in business and politics spoke at this invitation-only event right here at bloomberg. jason: we heard from -- carol:

." ♪ carol: welcome to "bloomberg businessweek." e are here at bloomberg global headquarters. carol: we zero in on conversations from the annual summit. most: some of the world's respected figures spoke at this event. andol: we heard from iac

. ♪ ♪ carol: ockham to "bloomberg businessweek." e joining you from bloomberg's headquarters in new york. carol: the u.s. and china continue to talk trade, but are they making real progress? jason: it is the one-year anniversary of president trump's tax bill. the big cuts came with big promises, but the jury is out on what they have done for the economy. carol: theresa may promised th

. ♪ ♪ carol: welcome to "bloomberg businessweek." >> joining you from bloomberg headquarters in new york into the second annual bloomberg 50, the people driving change this year. jason: plus, the cash trade dragging down general electric. >> a rough week for investors. the financial market

up next, a special simulcast edition of bloomberg businessweek and radio on television posted by jasonly and carol massar. don't miss it. this is bloomberg. ♪ carol: live from bloomberg headquarters, a special edition of bloomberg's this week live from our new york studios. i'm carol massar. jason: i'm jason kelly. we are excited to be here in our brand-new studio. on.l: we've got a lot going we saw stocks selling off big time on monday. christmas eve a bit of a different tone on this wednesday the day after christmas. jason: a totally different tone. a big run in equities. jay kevin hassett saying powell totally safe, 100% safe. stocks started to rally. that has continued. very much in the green right now. flow out ofews washington has continued. a lot of concern within the markets and we see the folks out of d.c. trying to calm investors at this point. jason: the

." ♪ carol: welcome to "bloomberg businessweek." e here at bloomberg global headquarters. carol: we zero in on conversations from bloomberg's year ahead summit. jason: some of the world's most respected figures spoke at this event. carol: we heard from iac and karen weaver.

. ♪ is manus: carol: welcome to bloomberg businessweek. ive into the second annual bloomberg 50, the people driving change this year. plus, the cash trade dragging down

welcome to a special edition from bloomberg businessweek. my cohost is jason kelly.t going on. it is the friday before new year's but still a busy day. jason: the markets are a little bit calm her, but anything -- this is where we saw a 1000 plus point move in the dow,. carroll: and we will dig into the trade because it has been a volatile and talk about corporate news, because we have a lot going on. we will talk tesla and general electric, and also talk about marijuana and meditation. jason: and wrap it up with a drink. carol: that's for sure. we will also talk a little bit about the yankees. they are not up for sale but we are talking about a possible deal. we will see what happens. jason: including a possible deal with amazon, and that would really start

carol: welcome to "bloomberg businessweek." i am carol massar. jason: and i am jason kelly. here at bloomberg's global headquarters in new york. carol: we zero in on the future with conversations from the year ahead summit. jason: some of the most influential figures in business and politics spoke at this event.

. ♪ ♪ carol: welcome to "bloomberg businessweek." i'm carol massar. jason: i'm jason kelly. ning you from bloomberg's headquarters in new york. carol: the u.s. and china continue to talk trade, but are they making real progress? jason: it is the one-year anniversary of president trump's tax bill. the big cuts came with big promises, but the jury is out on what they have done for the economy. carol: theresa may promised there would be a vote in parliament this weekend.

. ♪ >> from new york, welcome to a special edition of "boom -- bloombergs businessweek."ol massar along with jason kelly. what a week it has been. we had a selloff on monday. a rally on wednesday. we are selling again. up, markets gogo down. it seems like they go down and up dramatically. 1000 points yesterday. when thousand points. the biggest gain point lies in the catherine cowdery are down again. carol: we will talk about technology. t munster, veteran tech and edgy -- analyst has a call on apple. he says that is the one to watch. jason: scott kessler at cfra, he will be with us. people talk broadly about how that broadero selloff that we are seeing. and what we might expect from 2019. we have been talking about it a lot. earnings around the corner. carol: we have

. ♪ carol: welcome to "bloomberg businessweek." i am carol massar.cial issue focuses on businesses and companies and industries working on improving what they do. and it is the end of an era at goldman sachs. we take a look at the legacy. but we start in the economic section this week. many experts are predicting a global growth slowdown in the comingr

bloomberg businessweek is asking if crypto has officially hit the fan. and the bloomberg exclusive with billionaire investor sam trump sam, all of- with that over the next two hours. we are seeing a bounce for the majors, all up more than one and a quarter percent after a down day yesterday, general electric is one of the stocks that is higher. more than 4%. this is the best performer in the s&p 500. let's take a look with taylor riggs. we have talked a lot about december, this is one of the worst decembers we have seen, going back since 1931. , 18 days for december into the session, we are scale back to 1931 where we were off 31, and 16%. that does eclipse the december of 2002, right after the dot-com thele were in -- when december market was only up about 6%. it has been a wild ride for the s&p 500. i want to look at the gainers. it's not all bad news. one of those is oracle and some of the software makers, oracle is the fourth best performer in 3%.s&p 500 up an analyst at morgan stanley said their revenue growth of 2% makes it one of the only value pla

. ♪ carol: welcome to "bloomberg businessweek." ere at bloomberg's global headquarters in new york. carol: we have conversations from the year ahead summit. >> some of the most influential figures in business and politics spoke at this event. we heard from the ce

bloomberg businessweek uncovered that the chinese even implanted chips and computers for potential hardwareand activity from chinese companies. that has all been put on breaks ever since the trade war. >> yet chinese tech company names that only recently drew blank stares outside china are becoming increasingly familiar. which the pinnacle in 2018 by overtaking apple globally, techhe chinese big companies keep expanding and will need to convince other nations they mean no harm, ♪ of the manyjust one quick takes you can find on the bloomberg. you can also find them at bloomberg.com, along with all the latest business news and analysis 24 hours a day. that's it for "bluebird best" this week. thanks for watching. i'm sophie kamaruddin. this is bloomberg. ♪ ♪ emily: i am emily chang in san francisco. this is "bloomberg technology." coming up in the next hour, checking out of marriott. shares plunged as the hotel chain closes one of the biggest security breaches in corporate history. personal data from hundreds of millions of guests left address. president trump and xi are set to meet for dinner