bloomberg tech's garrett de vynck joined us to discuss. robably the most sort of consequential case that kavanagh has had a say in in terms of tech today would be about net neutrality. he didn't make a ruling that went into law. he actually dissented on a judgment made by some of the other judges on his court, and he actually was in favor of pushing back on the net neutrality. of course, we know that congress has gone and legislated away those rules that were put in by barack obama earlier, but he was in favor of getting rid of it. his argument focus we focused on -- actually focused on free speech. he said that internet service providers should have the first amendment right, the free speech right, to decide what goes over their wires and how fast it goes. that was sort of his take on net neutrality, which of course, is very important for the tech companies and for people who follow tech today. emily: and there are some upcoming tech-related cases that the supreme court could likely hear in the near term. so if he is confirmed, what does t

we spoke with bloomberg tech mark gurman.ark: the first thing is it does not appear apple products are affected. there are a lot of reasons why. one of the biggest points of emphasis is that apple is a california company based in the united states. donald trump and tim cook have talked about this. cook says he does not think these are a solution to the problem of the administration is saying is that there. there are other facets the to it. products are designed in the u.s., though they are manufactured in china. they are sold all over the world, so it is unclear what the tariffs would hit. lot at stake here. emily: what about the components that go into iphones and ipads? mark: if you look at the components on the list, it is not a big amount. iphones are increasingly made of stainless steel, different metals. and we're seeing some materials, and it is unclear what percentage of the phones are impacted and if there will need to be a price hike on the iphone. could they switch to other components if necessary? would they do th

and bloomberg tech is live streaming on twitter. be sure to follow our global breaking news network on tictoc. this is bloomberg. ♪ phones have made our lives effortless. streaming must see tv has never been easier. paying for things is a breeze. and getting into new places is even simpler. with xfinity mobile, saving money is effortless too. it's the only network that combines america's largest, most reliable 4g lte with the most wi-fi hotspots. and it can be included with your internet. which could save you hundreds of dollars a year. plus, get $150 dollars when you bring in your own phone. its a new kind of network designed to save you money. click, call or visit a store today. emily: welcome back to the best of bloomberg technology. i'm emily chang. there are bigger forces at play than just us. that is what qualcomm's ceo said after announcing he is abandoning his $44 billion bid to acquire rival nxp. it would have been the largest ever deal in the chip industry. the aborted takeover may be the largest high-profile victim of the

emily: caroline hyde along with bloomberg tech's nate lanxon. tinue the conversation with uber's chief legal officer tony west. i spoke with west about how he is tackling his big challenges ahead at an event hosted by bloomberg law in san francisco, and asked him about the company finally getting its 15 month license to operate in london. tony: it requires us to walk the walk and to demonstrate that we are, in the words of the license, fit and proper. and i believe we would not have been here at this point had we not, in the preceding months, where dara engaged in some extraordinary personal diplomacy. and there has been a lot of other things, changes, significant structural changes that we have made to the way that we operate. you know, we would not have gotten to this point had i think observers really sensed a change in the way that we approach that market, and the way we operate. emily: a representative for the taxi drivers suggested it would be an uber in sheep's clothing. tony: well, you know, the new uber is what you see. right? i think wh

bloomberg tech's live streaming on twitter, you can check us out @technology.nd be sure to check out our news platform on twitter. tictoc. this is bloomberg. ♪ emily: ibm one back investor trust one day after announcing second-quarter earnings that beat consensus estimates. the manufacturer reporting a 2% revenue gain and $20 billion in the second quarter while were $19.9 billion. this is the first growth after of revenue decline. investors want to see other improvement in cognitive revenue. investors are worried that he by -- ebay is losing momentum. he gave a lackluster sales cast for the quarter and lowered its forecast for the year. ebuddy -- ebay is trying to find its place in the shadow of amazon. more when we return. this is bloomberg. ♪ ♪ emily: mrs. "bloomberg techonology, i am emily chang in san francisco. crypto insurance. there aren't two many details -- there aren't many details on how this works. a is an industry worth well-deserved reputation for being like the wild wild west, an unregulated digital frontier. and as cryptocurrency blockchain tech

and bloomberg tech is livestreaming on twitter. follow us on twitter. is bloomberg. ♪ emily: despite the electric car maker meeting its production goals, goldman says customer enthusiasm may be a winning. the reason -- order availability has increased as well as test drives and they're not the only ones sounding the alarm. this. >> elon miss must is a very, -- musk is a very very, smart man but there are very smart people in this world anding you have to execute. he's got execution problems. we'll see how his quarter goes. but he's negative cash flow, he's building cars in a tent. owes -- he's nowhere near autonomous driving and big competition is coming in his space yecks year -- next year. emily: joining me to discuss rom colorado and new york. first, lay it all out for us. the bulls and the bears. what people are saying right now. >> so the big thing that's going on is elon musk sort of pulled out all the stops at the end of last month and hit this big milestone. 5,000 cars per week. which is really impressive. tesla is a mass manufacturer now which

bloomberg tech is live streaming on twitter. check us out there. is bloomberg. ♪ emily: welcome back to "bloomberg technology." shoppers are brushing aside that technical glitches that marred the opening of amazon prime day. sales in the first 10 hours grew faster pace that's lanier. amazon sold millions of devices on the electric voice platform. we have jump shot ceo joining us. they deliver the valuable platform. here with us in san francisco brad stone. brad, does it appear that amazon recovery?l >> it does. let me tell you the slow cooker. to buy it five times the. i don't know what it does. i was told to buy it because it on sale. emily: i have one. i don't know how to use it. >> last night, the site went back up. i bought it. apparently my colleague many zonethat forfeitedabout -- $99 million in sales. they recovered. emily: would you agree a drop in bucket? >> yeah. these are compared to other big thingss, we do see happening. now,u look at the numbers early numbers, they clearly hit the record. track 100 billion devices and you're looking a

bloomberg technology." we will bring you the latest in tech throughout the week. we will get tesla's delivery numbers following a company reorganization, job cuts and its ongoing quest to turn a profit. tune in each day, bloomberg in new york,:00 2:00 in san francisco. live streaming on twitter. and he sure to follow our global news network on tictoc on twitter. ♪ haidi: mixed messages on oil. president trump putting pressure on saudi arabia. the white house backs away from his claim. model threehits production targets at last. it has now become a real car company. haidi: china's export growth slides as trade war limbs, five days away from the new u.s. tariffs. ramy: mexico shakes up the system with the

bloomberg tech is live streaming on twitter, you can check us out @technology.e sure to check out our news platform on twitter. this is bloomberg. ♪ ♪ emily: ibm one back investor trust after announcing wednesday second-quarter earnings that beat consensus estimates. the manufacturer reporting a 2% revenue gain and $20 billion in the second quarter while estimates were $19.9 billion. this marks ibm's third consecutive quarter of growth after five years of revenue decline. investors want to see other improvement in cognitive revenue. investors are worried that ebay is losing momentum. the company gave a lackluster sales forecast for the third quarter and lowered its forecast for the year. ebay is trying to find its place in the shadow of amazon. like-and-mortar retailers walmart are improving their own online shopping options. more when we return. this is bloomberg. ♪ two, down and back up. our phones are more than just phones. they are pocket sized personal trainers... last minute gift finders... siri: destination ahead. and discoverers of new places. it's the i

bloomberg technology." we will have full analysis of tech earnings next week. happy friday. we will see you next week. or now. this is bloomberg. ♪ announcer: the following program is a commercial presentation for total gym fitness. ♪ >> ♪ everybody workout feel the energy ♪ ♪

bloomberg tech is streaming on twitter. this is bloomberg. ♪ two, down and back up.nes are more than just phones. they are pocket sized personal trainers... last minute gift finders... siri: destination ahead. and discoverers of new places. it's the internet in your hand. that's why xfinity mobile can be included with xfinity internet. which could save you hunreds of dollars a year. plus get $150 when you bring in your own phone. its a new kind of network designed to save you money. click, call or visit a store today. whether it would be internet explorer or luckily even chrome itself during -- itself. it doesn't actually own the internet with the user. it is adapted by the likes of samsung. it is not being forced itself to provide that kind of option. the handset provider will decide. emily: given that you brought the original complaint,? yes, we are pleased. this is a good decision. emily: the money is one thing. another.egulations are for google, is money the really big deal or is it the other things that google now has to comply with? >> the money is really a dro

bloomberg tech's live streaming on twitter.echnology.t @ this is bloomberg. ♪ emily: airbnb picked a local chinese entrepreneur to head its operations. a cofounder of small arrival will run airbnb's chinese business in december. the company has operated without one in nine months after its last choice abruptly left the job after violating the code of conduct by dating a female employee. amazon has turned prime day into a promotional juggernaut with sales surpassing regional lows in 2017. what is the game plan this year? it's promoting deals for food and groceries, but will customers bite? mark, how will prime day the different another hopeful its are in the mix? mark: this is the first time they are part of prime day. they are trying to have 60 million prime customers and how to get more these customers to shop at whole foods and it is a clear win if they can make it happen. that is why they give people more savings if you're using your phone number. could get people to buy groceries online is still unproven. that is why amazon

bloomberg news. thank you. silicon valley has given us the tech we cherish. w look is giving us plenty of gas upon its early days. our conversation on at -- with adam fisher with his new book. this is bloomberg. ♪ emily: uber ceo's is the company does not need -- need to be profitable. speaking earlier today at the brainstorm conference in loretto, he said he was more focused on generating positive cash flow then making the company profitable. uber has burned more than $10.7 billion since being founded in 2009. bloomberg is also reporting that uber is facing a gender discrimination probe by the u.s. equal employment opportunity commission. this coming as new questions arise about the corporate culture at one of the world's biggest startups. the inquiry reportedly focuses on allegations of pay disparities and other discriminatory conduct towards women. it is one of at least half a dozen federal investigations into the ride-hailing company that have emerged in the last year. habit of american technology. that is why we are here. it is a place the chinese are try

here to tell us more is our bloomberg tech reporter. e list has gone from a dozen to a thousand products. which products are we talking about? >> from a consumer tech perspective, we have to note it does not appear that apple products like the iphone, apple watch, and others are affected. emily: why? >> one of the biggest points is that apple is a california company based in the united states. donald trump and tim cook, they have talked about this many times. cook said he said he does not believe the tariffs are the solution to the problem that the use and ministration is saying is out there. there are other facets to it. they are manufactured in china, designed in the u.s., and apple sells them all over the world. it is unclear what hit the tariffs will cause. emily: what about the components that go into iphones and ipads? >> if you look at the components on the list of tariffs, it is not a big amount of parts in the iphones. they are increasingly made of stainless steel, different metals, but some steel and aluminum's, it is unclear w

bloomberg tech is live streaming on twitter. check us out there. s bloomberg. ♪ phones have made our lives effortless. streaming must see tv has never been easier. paying for things is a breeze. and getting into new places is even simpler. with xfinity mobile, saving money is effortless too. it's the only network that combines america's largest, most reliable 4g lte with the most wi-fi hotspots. and it can be included with your internet. which could save you hundreds of dollars a year. plus, get $150 dollars when you bring in your own phone. its a new kind of network designed to save you money. click, call or visit a store today. emily: welcome back to "bloomberg technology." shoppers are brushing aside that technical glitches that marred the opening of amazon prime day. sales in the first 10 hours grew at a faster pace that's lanier. -- pace than last year. amazon sold millions of devices that work on the electric voice activated platform. we have jump shot ceo joining us. they deliver digital intelligence from the most valuable platform. here with

emily: with us now, bloomberg tech's sarah frier, who was in on the earnings call.der if mark has to convince the ceo of instagram on a daily basis why selling to facebook for $1 billion was a good call. sarah: i don't know how he came up with that twice as fast number. certainly, facebook has been integral to the international expansion. it has become clear that facebook is going to be a lot more reliant on instagram for its future growth, especially as we have seen, in quarterly earnings, that user growth is stagnating or slowing in some areas. emily: looking at the way shares are trading right now, all of facebook stock gained year to date would be wiped out after the after-hours move we are seeing at the moment. they missed, but it wasn't a huge miss. is this warranted? sarah: this is just incredible because facebook stock doesn't move like this after earnings. they don't miss like this ever. this is the first time they have missed on revenue since 2015. the cfo, on the call, said we should expect the company's revenue to decelerate further in the third and four

bloomberg tech's live on twitter, you can check us out @ technology and be sure to follow our news networkictoc on twitter. this is bloomberg. ♪ emily: biotech has been a volatile industry for investors. for every win there is a possible huge loss. in the last few weeks, there has been a surge of biotech with fresh capital rushing in. here to discuss is a partner at acid meant -- asset management firms. it seems like biotech is the hot thing right now. is this real? >> i think we see a lot of interest from the biotech market. pharmaceutical company and biotech firms do not have a strong pipeline and that also leads to startups in early entrance with the ability to raise capital on the public market. emily: where do you see potential now? what are the hot technologies? >> to be clear, i was not the investor in 1980, but our founding partner and firm was. we are seeing interesting opportunities in the digital health arena. we're looking at amino oncology and other areas. emily: is that curing cancer? >> that is definitely the pipe dream. it's acting cancer early as one and trying to have som

tech stocks? on the phone is -- webb, adon is alex bloomberg opinion tech columnist.aul, i want to get your take on what you are doing with these flying tech stocks right now. where is the bottom? the stockbook being , i didr -- stock dejour keep a smaller piece as far as the other faangs. i will continue to hold them and facebook itself if it drops further, i would like to see it stabilize. probably would be concerned and may well turn around and reshuffle the deck. alix: what we have heard are some calls for caution. credit suisse says the hedge fund clients, their retail internet stock made up half of their overall positions. you have outflows into triple q's etf. what do you think it is going to take to stem the tide? paul: i think what will happen is the fundamentals in most of strongh names are pretty , so i don't know if it is a matter of show me something else fundamentally. somene we need to see acknowledgment of a business change that might be permanent is facebook, but i think the stock has reflected that already. it is a matter of taking some market and so

bloomberg technology. tomorrow we will have full coverage of facebook's second quarter results with analysts and investors. join us on the show. teche in full swing. that's all for now. i'm emily chang. this is bloomberg. ♪ >> the following is a great program and does not reflect the views of bloomberg lp. >> this is a paid advertisement for viviscal. the clinically proven solution for thicker, healthy looking hair. >> women never expect to have to worry about losing our hair. the truth is, eight out of 10 women will experience hair thinning and loss. hair problems can happen at any stage in a woman's life, in your 20's, 30's, 40's, 50's and 60's.

tech problems. we will discuss later on. this is bloomberg>> parent company alphabet posted second-quarter results at smashed wall street expectations. on the earnings call it was suggested the company would not alter its strategy. >> we will uphold the -- were looking forward to finding a solution that preserves the enormous benefits of android users and so on. there's more work to be done and i think it will become clear as we go along. wayconfident we will find a to make sure android is available to use everywhere. emily: what does it mean for the tech industry as a whole? london.caroline hyde in is that a good thing? see, the fine was noted week ago, and as i this morning, it was literally a footnote in my column yesterday. that's how immaterial it was too good -- to result of the company, at least financially. the other thing is the issue that had been freaking out alphabet investors are the last it months was it spending, makes revenue-sharing payments to his partners like apple and others, and the pace of growth of those payments moder

bloomberg tech's next next.oomberg tech" is joe: this is bloomberg. ♪ ♪ emily: i'm emily chang in santechnology. apple reports earnings that beat expectations and gives an upbeat forecast for the current quarter. all the highlights from the results in the call. detects political interference on its platform ahead of the u.s. midterm elections. what is the social network doing to secure? tech is gearing up for the earnings r

paul sweeney is the bloomberg intelligence director of north american research joining us from princeton. thanks. coming up, more techck. we will crunch the numbers for some of silicon valley sweethearts ahead of their earnings releases. from new york, this is bloomberg. ♪ ♪ i am mark crumpton with first word news. president trump is considering revoking the security clearances pf a half-dozen former obama administration officials. white house press secretary sarah huckabee sanders says the president is "exploring the mechanisms to strip clearance from former cia director john brennan, former fbi director james comey, and former national intelligence director james clapper and others." they have " politicized and in some cases monetize their public service and security clearances and made baseless accusations against the president." a judge in alexandria, virginia has delayed the trial of paul manafort till july 31. manafort's defense team has asked for more time to review evidence produced by the government. manafort's accused of failing to disclose offshore accounts. he must defend charges that he lied to bank to s

here with more is our bloomberg tech reporter, dana hull.: start with the numbers they released today, the investors originally liked them and to the fact that i guess they had the 5000 number, thanks to a late cycle rush, and upped their target, but then the stock fell. so put it all together, what is the current number telling us about the capacity relative to the expectations and goals investors have. dana: i think the news was digested yesterday when we got an internal memo from elon musk, congratulate everybody that congratulate everybody. the fact -- musk, congratulating everybody. i think investors are realizing that they made this mark late in the quarter and it will still be in a bubble battle -- uphill battle to make a sustainable. joe: why is that? why do people look at that lakewood a production first -- late quarter production burst i guess, that is not sound sustainable, but what is it that they have to do so that investors will not be skeptical? dana: there are some hail mary practices, like they flew manufacturing equipment f

that does it for this edition of "best of bloomberg technology" we will bring you all the latest in techt the week. tune in at tuesday for full coverage of apple earnings and wednesday for tesla. each day, we are here. and remember, all episodes are now live streaming streaming on twitter. check us out. that's all for now, this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. streaming must see tv has never been easier. paying for things is a breeze. and getting into new places is even simpler. with xfinity mobile, saving money is effortless too. it's the only network that combines america's largest, most reliable 4g lte with the most wi-fi hotspots. and it can be included with your internet. wh

edwin chan, bloomberg tech editor. look at what's moving in what has been largely to of -- when it comes asian markets. >> i want to show some stock mumpse in the region, particularly in china and hong ong. xiaomi after a dismal debut on monday higher by about 10 points. taking a look at some of the lagers in honoring -- hong kong, zte losing ground for the second day, after a week that saw the company name a new c.e.o. and replace its senior management as part of the deal to resume some business activity in the u.s. great wall under pressure after june data. and take a look at tencent. losing ground, off by nearly 2% after southeast cut the price cut the price target. conch.tly, a look amount as the company predicts a doubling on earnings. they're 45% higher so far in hong kong. haidi: thank you for that. in the meantime, breaking news wherever you are. you can find us on twitter. this is the first global news network designed for social media, offering live video coverage and data news reports verified by bloomberg.

the bloomberg tech reporter joining us from san francisco.trade tensions weigh on profit forecast. general motors cut targets on higher steal and aluminum cost. gm chrysler follow that after lackluster sales in china, announcing a costly restructuring. but the prospects for carmakers. kevin joins us. what are we looking at? kevin: gm was a bit of a warning shot as they cut aluminum and steal tariffs. the imf has estimated that, if the auto tariffs trump is threatening are imposed, it would do more than double the damage of all the other tariffs that trump has either implemented or suggested. it looms large over everyone. , hyundai makes half the cars it sells in the u.s. nissan is one third of the cars. the u.s. is still the biggest market. is something that everybody is watching and the u.s. market is having trouble, already passed its peak. the sun, in particular, has been guilty of boosting discounts, consumers, and it tried to pull that back now this year. success soimited far. china is increasingly important, and they have improved a bit

alex webb, our bloomberg european tech columnist.'s check some stocks as we head into the first full hour of the u.s. trading session, lower for the most part. down .2%, the s&p 500 down .1%. equities shrugging off those threats between the president of the united dates and president rahani. we are seeing leadership in the s&p 500 from toymakers, hasbro and mattel. this is bloomberg. vonnie: that is some of our reporting from tictoc. live from bloomberg world headquarters, i'm vonnie quinn. caroline: live from the european headquarters in london, i'm caroline hyde. this is "bloomberg markets." let's check in with kailey leinz. >> president trump has a warning for president rouhani. never threatened the u.s. again. him thatdent promised it would suffer consequences the likes of which few have ever suffered. earlier, rouhani warned the u.s. against threatening oil exports. he said a battle with iran would be the mother of all wars. the u.s. economy may have had 4% growth in the second quarter according to a survey of economists, gdp ex

this is bloomberg. ♪ tech and media ceos gather this week for the allen company conference.offering crucial phase time to talk about the biggest trends and hurdles facing the industry. we caught up with joe 11 to talk about how netflix became a powerhouse. >> netflix changed everything. amazon is changing everything. facebook and google, those are massive threats to those businesses. look atich case we can the scaling up that is going on. a defensive measure. is scale alone going to be enough to protect them from that? i think scale helps, but it has to be product. one of the things that could come out of this comcast digital fox thing is one controlling shareholder of hulu and no be an interesting platform and whoever the winner is in that thing and what content they put onto it could be interesting if they put on the all content onto lulu and try to amount the asset as a real offense, that could be very interesting. successfulen very and growing businesses who have done well at warding off the big tech. what is the secret to that? how do you identify and build businesses a

bloomberg technology." we will bring you the latest in tech throughout the week. e will get tesla's delivery numbers and this company's ongoing quest to turn a profit. tune in each day, bloomberg technology's live streaming on twitter. check us out. be sure to follow our global news network on tictoc on twitter. this is bloomberg. ♪ ♪ >> lowering some of trade tensions in china, saying it will not fire some of the first shots. beijing says they will wait to see what washington does. >> president trump renewed his attack on opec. he says the cartel is driving prices higher and prices must come down immediately. >> coal is king in australia. at $58e with total value billion australian over the next year. >>

we broke it all down with our chief content officer and visiting san francisco from tokyo, bloomberg's asia tech >> the technology industry is nervous about this. the supply chain for tech stretches between the united states and china. they are nervous that if this trade war gets out of control, it will cost them business here it could raise prices and cause other disruptions to the supply chain. meantime, we have got new news the trump administration from theshield farmers impact of this trade war. course, we can assume farmers are larger point -- part of his voting these. it is him and trying to repair the damage of three or four decades of globalization. it is true that he is going to try and shield some of the obviously,the damage the semi conductor industry is not a hot end of his core base. so i doubt you will see a to tech in general. but this doesn't speak to donald trump's real view that tariffs are the way to go to get people to come to the table. so far, the tariffs have been limited. $34 billion in tariffs. the president is saying we will go whole hog, all $500 billion. >> it would b

let's talk to bloomberg's tech editor. are they going to win it? >> i think so.now, my colleague writes about how price competitiveness obviously is a huge factor when it comes to telecoms and gear makers. gained auawei has reputation for reliability. in terms of 5g, this is a signature win for them because they want to be the dominant 5g networks rollout across the world and, of course, in south korea, they take broadband really seriously. if huawei does win these contracts, it will be a big used for them. they are not likely to be very happy. edwin: a lot of people do not know that samsung actually has network equipment businesses. it's tiny. they have a 3% market share globally, but again, it's their own backyard. rishaad: they have been the ones winning contracts in south korea. that's the thing. edwin: exactly. ithuawei can get this done, may open doors in other developed markets. obviously not in the u.s. it's interesting because south korea is a key u.s. ally and we have all seen the backlash against huawei and zte. ashaad: tell me, how much of game change

we broke it all down with our chief content officer and visiting san francisco from tokyo, bloomberg's asia tech> the technology industry is nervous about this. the supply chain for tech stretches between the united states and china. the chip companies are shipping product into china and being assembled and being shipped back across the ocean. they are nervous that if this trade war gets out of control, it will cost them business here and it could raise prices and cause other disruptions to the supply chain. emily: meantime, we have got new news the trump administration plans to shield farmers from the impact of this trade war. of course, we can assume farmers are a larger part of his voting base. walk us through the issues. certainly. >> certainly donald trump thanks these tariffs are a great strategy to repair the damage of three or four decades of globalization. it is true that he is going to try and shield some of the farmers of the damage. obviously, the semi conductor industry is not a hot bed of his core base. so i doubt you will see a to tech in general. but this does speak to donald tru

tech industry? joining us from london, bloomberg's caroline hyde. ve been talking about the broader business and political concerns here, but how is the tech sector specifically receiving this possible softer brexit news? caroline: there are concerned about the proposal at the moment. they are really concerned about the fact that it sections out services in particular. about 80% of all exports from the tech sector in the united kingdom our services based. they are saying at the moment this is a lopsided deal, because what theresa may's proposal spells out is that you will have some free trade arrangement in terms of goods you are seeing imported and exported between the u.k. and the eu, but not services. so they are saying we could see two separate regulatory environments. this is unnecessary concerns for u.k. based tech businesses, yet more headaches in terms of the regulatory environment they are going to be facing. they are also laying out that there is not enough visibility yet in terms of freedom of movement of people. this has always been a key

bloomberg. julie: it has been an unpredictable week for tech with earnings results at historic highs and record-breakings. romaine bloomberg's bostick. that is some unexpected and unpredictable reaction to some of the earnings this week. romaine: we were looking for a lift out of tech and we had issues. we are ending this week with the nasdaq 100 down about .7% on the week. the nasdaq composite is down 1% despite the s&p and dow being higher. if you look at action today, think about the reversal. tech is at the top of the leaderboard at some point or another. if you take all of the stocks that moved today, it is over 5 billion. there is not a single tech name until you get down to the 25, 30 range. that is basically a couple of nxp semiconductors. joe: are people impressed by the degree to which the s&p and other non-tech heavy areas -- the thing is, the s&p is tech heavy, but tech did not blow up and the rest of the market did not worry about it too much. >> you did see rotation today. what the best-performing sector was this week, if i had to ask, what would it be? transport. they did quite well. you

on the other side of the atlantic may now be under pressure to rein in the power of the tech giant. 0n bloombergest man in modern history, topping $150 billion. hopefully we can move onto that. and on quartz, daughters of working mothers grow up to be just as happy as those of stay—at—home moms. they also earn more, according to a new academic study. we can't seem to be able to move on our graphics for that, so we shall now look at market really quickly, and those graphics are working. so thatis and those graphics are working. so that is good. so you can see a mixed picture in asia, it is all about the earnings that are coming through. we have lots of companies coming out with their latest profits or news of losses. so it is a mixed picture, i will see you soon. it's been a record year for british book sales — that according to the latest figures released for the uk's publishing industry. it's now worth £5.7 billion according to the publishers' association. and despite dire warnings, the sale of the printed word is still well outstripping that of ebooks. lizo mzimba has this report. jamie 0liver

it stems from a patent case. ,oining us now is alex webb bloomberg tech columnist. it feels like it fits into the trade narrative, a tit-for-tat story with companies band in the banned in the -- united states. >> there is a broader trade competition, in terms of how much technology is located in china and how much expertise they are able to build up. we have seen a tit-for-tat blockence where the u.s. something here, and they block something on the other hand. the memory chip business is controlled by very few companies, toshiba, micron, samsung. place ins not have any that, but they are trying to. there was a good story in the new york times where they talked about that as the contest. different from the broader beijing level decisions, they have said you can't build these products in china for now. go? where does this what is this mean for micron? the right they have to appeal and work around the story, but in the meantime, they are cut off. has seen the court decision. they don't know exactly what they are not allowed to sell or where they are not allowed to sell

bloomberg technology." we will bring you the latest in tech. coming up, we have full coverage of xiaomi's public listing. g. ♪ you are taylor: coming up on "bloomberg best," the stories the that shaped the week around the world. mexico swings left in a historic presidential election. >> this time, we do have a deal. in china's central bank steps up to stabilize a deteriorating yuan. >> fed officials in general say the economy is operating in top gear. >> the fed will hike at least once more. because wage growth is still sluggish. >> a return to public markets. they pull out all the sports to

this is bloomberg. >> today's market action, a lot of selling in the big tech names.f by 1.4%. throw out a name out there, facebook shares losing 23% or as much of their market value over the past three days. in the end, they paired some of that decline and off 21%. just to give you a sense. "what'd you miss," a busy week for monetary move. bank of japan is set to announce tomorrow and the fed on wednesday. central banks in israel and ndia hold policy meetings. marc bring in the head of chandler. japan is probably going to be the one where there is most suspense because we are not entirely sure what they are going to do. marc: and i think if it stays away from the market, but if there is a change, there will be a price to paid for and make them further to intervene. joe: what is the problem with the current monetary stance that s causing a rethink? marc: the federal reserve meaning it slowed down its buying to get to the end. but what the bank of japan is doing. the economy contracted in the first quarter and bounced back in the second quarter. net-net the first half,

bloomberg. vonnie: markets taking a bite out of tech today. we have two charts on that. bloomberg. ♪ vonnie: it is time for our global battle of the charts. you can see these on the bloomberg. it just run the function gtv < go>. >> we have tech stocks dragging down the sector quite a bit. out that industrials financialsons -- lifted up more when tech is more than 25% of the entire index? we have for the month, quite a lift and we have caterpillar also reporting, lifting the earnings estimate for the second time this year. even with trade tensions and financials and industrials, we see -- hopefully outpacing the drag tech caused. vonnie: that is a very, very contrasting chart. thank you. i think it is caroline battling today. caroline: it is, indeed. i am sticking with the theme of all of our faangs. bank of america merrill lynch saying it is time to start shorting these tech darlings, facebook,he faangs of alphabet, netflix and google. we are also seeing the likes of apple that should be shorted. amazon, too. what i want to really show with this chart is how much we have

with more from washington, bloomberg's been brodie who covers tech lobbying for us.an the president really have a negative impact on amazon here? that's a really good question. there are a lot of way amazon has a nexus with the government. it is pursuing government contracts. it obviously could have antitrust investigations, all kinds of things, the health care space aspirations. while trump can pressure the department of justice or the federal trade commission, they probably are guarding their independence, and anything that they would want to do, would take months, if not years, for them to put off. it's not even clear he can end their stock price for more than that she can dent their stock price for the morning. emily: is this about amazon or "the washington post"? reporter: this is about jeff bezos, this is about the washington post, it is about a feud between two billionaires. amazon probably has very expensive lobbyists that can do better than the newspaper. but the president has not been shy about covering the company. emily: the exact to eat -- in my opinion,

tech names. this is bloomberg. ♪ julie: too much love for tech.ng toout a investors to exit facebook, apple, amazon, netflix and google. the so-called faang. is there something there this time? some charts with us ahead of a busy earnings week. earnings, there doesn't seem to be a lot of concern. >> one thing i would like to pull up is these threads between the implied volatility versus calls. we have is the top panel. alphabet.ebook, those are subdued slightly. the skew on qqq q is elevated. it is like strategists are saying there might be some danger in tech but certainly not the stocks i know and love. lisa: nobody wants to admit there is actually danger. you can see people bidding up the stocks. this chart you brought is telling. it shows why people ought to be more concerned. explain what we are looking at. >> this is the heart of the case. and thethe forward spread at the bottom, the highest since 2008. >> the valuation gap between the big tech companies and the rest of the u.s. equities is the biggest since 2008? >> there are mitigating fac

bloomberg technology." we bring you the latest in tech. coming up, we have full coverage of xiaomi's public listing. oomberg. ♪ ♪ nejra: coming up, we talk about why most u.s. banks managed to pass the fed stress test and how healthy the banking sector is. and, how the union rules achieve their goals and whether trading landscape looks like. and, we talk the banking union and chances are more integration. welcome to "bloomberg markets: rules & returns." i am nejra cehic, in london. "rules and returns" is a show where we delve into the regulatory challenges and opportunities for financial markets around the globe. first, a roundup of the news. here's sebastian salek.

if we happen to the bloomberg, the tech strength we are seeing today is also the story of the year., a somewhat busy but the point i would like to make year, in white we have technology. that is the top sector on the year for the second year in a row, up 15%. in blue, consumer discretionary is not so far behind. disney, and in, green, the s&p 500 and the trade war fears we were talking about abating on the day. on the year, there is a bit of a hit here. looking at materials, industrial, consumer staples, other sectors that are more sensitive to the possibility of a trade war kicking into full swing. finally, oil yesterday absolutely plunging. this is a two day chart. on the lows yesterday, closing down 5%. at one point today, oil was slightly higher, but at this point it is down 5% over the last two days. the worst two days since the end of may, but at one point it had been the worst today's since since march days 2017. with fears that the trade war could take a bite out of the --bal economic picture growth picture. time will tell. scarlet: abigail, thank you. let's get the first wo

bloomberg technology." we'll bring you the latest in tech throughout the week. coverage of xiaomi's public listing. tune in for full coverage each day at 5:00 p.m. new york and 2:00 p.m. san francisco. this is bloomberg. ♪ welcome to bloomberg businessweek. i am carol massar. jason: i am jason kelly. carol: a conspiracy to put a president on trial. in europe, contemplation on what the continent will be like without angela merkel. jason: and we go digital. we look at something happening all around the world, cash getting stolen using the internet. carol: ed robinson has more.