bill clinton addressed these questions head with bloombergs betty liu. betty: i want to get to some of the commitments you are excited to talk about today, that i also want to talk about some of the topics that have overshadowed some of the good work that cgi has done. you have something like 200,000 plus sponsors that have supported cgi since 2001. a few of them have begun to reassess their sponsorship of the clinton global initiative. exxon mobil said they will not sponsor you this year. is this because of the funding controversy? mr. clinton: i think they don't want to be involved in politics. they don't think we were ever political. there has never been a foundation with a more prominent political person involved. i have had george and laura bush here, mitt romney, john mccain and sarah palin came. rupert murdoch and his son and his foundation giving money to us along with mayor bloomberg. we just solve problems. there are people who just don't like bad press, and you cannot be involved in american politics without somebody attacking you, and i think

bill clinton addressed these questions head with bloombergs betty liu. betty: i want to get to some of the commitments you are excited to talk about today, that i also want to talk about some of the topics that have overshadowed some of the good work that cgi has done. you have something like 200,000 plus sponsors that have supported cgi since 2001. a few of them have begun to reassess their sponsorship of the clinton global initiative. exxon mobil said they will not sponsor you this year. is this because of the funding controversy? mr. clinton: i think they don't want to be involved in politics. they don't think we were ever political. there has never been a foundation with a more prominent political person involved. i have had george and laura bush here, mitt romney, john mccain and sarah palin came. rupert murdoch and his son and his foundation giving money to us along with mayor bloomberg. we just solve problems. there are people who just don't like bad press, and you cannot be involved in american politics without somebody attacking you, and i think

president and cgi founder bill clinton addressed these questions head with bloomberg's betty liu. betty: i want to get to some of the commitments you are excited to talk about today, but i also want to talk about some of the topics that have overshadowed some of the good work that cgi has done. mr. clinton: have at it. betty: you have something like 200,000 plus sponsors that have supported cgi since 2001. a few of them have begun to reassess their sponsorship of the clinton global initiative. exxon mobil said they will not sponsor cgi this year. is this because of the funding controversy? mr. clinton: i think they don't want to be involved in politics. they don't think we were ever political. there has never been a foundation with a more prominent political person involved. i have had george and laura bush here, mitt romney, john mccain , and sarah palin came. rupert murdoch and his son and his foundation have given money to us, along with mayor bloomberg. we just solve problems. there are people who just don't like bad press, and you cannot be involved in modern american politic

betty: welcome back to bloomberg market day. i am betty liu. for top stories causing the bloomberg terminal this hour. russia's economy sees the biggest contraction since 2009. gdp dropped 4.6% in the second quarter. a renewed slide in commodity prices is again hammering the ruble and checking a country that relies on oil and gas for about half of its budget revenue. morgan stanley says congress will probably come to the aid of puerto rico. analysts think congress will island's private corporations access to bankruptcy and establish a fiscal control board. the public finance corporation missed the payment earlier this month. it is struggling with a $72 billion debt the government says is unbearable. donald trump says he won't apologize for comments he made about fox news anchor megan kelly -- megyn kelly. he is under fire for how he described her performance at the debate on thursday. he called into sunday talk shows to deny he said anything wrong and says he has no problem with women. tremendous.omen are i've such an amazing relationship with w

betty: welcome back to the bloomberg market day. in betty liu.gest milk producer in the u.s. is staying mum about why their chairman just resigned. the sec is moving forward involving an insider trading case. that severelydent injured comedian tracy morgan -- ate is chris hartz speaking a meeting. >> we know a major contributor is driver fatigue. fordriver and had been on 14 hours. he had been awake for more than 28 hours, including an overnight drive from his home in georgia to the district center. betty: there was a traffic backup on the new jersey turnpike. the safety board will look at what can address driver fatigue in highway works on hazards. quarterback -- will be sidelined 6 to 10 weeks after being punched in the job. got into his teammate an altercation in the locker room and smith was "sucker punched." and in pro football, the federal judge handling the tom brady case wants to talk settlement. the new england patriots order back and commissioner roger goodell will meet with the commissioner -- quarterback and commissioner roger goodell

acquisitions and we will have the ceo trevor fetter on with us next. ♪ betty: welcome back to "bloomberg market day." i am betty liualthcare announcing results after the bell. revenue up a powerful 11% and they beat expectations, but the company reported an overall loss after charges due to restructuring and acquisitions. trevor fetter joins us now. trevor, great to see you. we were just talking about the consolidation and the drug space and also among health insurers. as those guys get bigger and they have more say because they are more powerful invoice, how does that impact to because they have more leverage over hospital operators like you? trevor: thank you for having me on. it is great to be here. there has been consolidation taking place for a long time in the industry and a big wave in the insurance sector right now and in the drug sector. a very large company. we deal with large companies that are insurers. this is not something completely unexpected in our industry. still, for our markets, the predominant insurer in a given state is generally one of the local blue cross plans. it is obviously something we

bloomberg "market fighting money laundering. the justice department looking into citigroup dealings with companies linked to one mexican billionaire. details coming up. ♪ betty: this is the bloomberg liv "market day." i am betty liumm fox. looking south towards the empire state building. the freedom tower and distance on this monday, august 17. the u.s. justice department is expanding its investigation into citigroup's money-laundering controls. betty: the doj looking at the company's link to mexican billionaire carlos hank rhon. here with the latest is dakin campbell, who wrote the story. what is the doj looking at? doj is looking at for companies within his business empire. th one ofssociated wi the biggest non-bank financial companies in mexico. two are affiliated with an industrial conglomerate, they make steam generators. basically, doj is asking citigroup to produce documents that have to do with account openings for these 4 companies. checks,r customer things that show that they did their due diligence to make sure money flowing through those accounts was accounted for and was clean. pimm: tell us about the family that controls these companies. dakin: carlos hank rhon is a mexican billionaire. he is worth

s new pay zhrure rule may not paint an zphrore -- new bay betty: welcome back to the bloomberg market dalte. i am betty liutime for a look at the markets. just about 20 minutes ahead of the closing bell. i am going to head over to julie. it is the dollar you are starting on. >> yes. i am looking at the week. let's take a look at the week that was in the dollar. the deadlines we have seen, down almost 1%, its worst week in about two months, spurred initially by the china did he the tion and then -- china devaluation. people assumeing that with that devaluation that would then potentially have an effect on the fed, maybe push back the fed rate increase. and yet the supposition that a fed rate increase will continue to be good for the dollar might be a flawed one, so says articles on the bloomberg terminal. andrea was kind enough to send me this chart. the blue line is the federal funds rate. then in the red you have the u.s. dollar index. what the two of them did was look back at other situations, other times when we have steen increasing rates to see what happened to the dollar. here back in 1994 as you had

. ♪ betty: this is "bloomberg market day pickup i am betty liu.m: i am ready live. -- i am pimm fox. current el niÑo affect already the second strongest on record with this time of the year. they say could be one of the changes of weather the past 65 years. el niÑo is a warming in the pacific ocean that causes wind to shift and change weather patterns in the united states. it usually takes place in the winter. drought sticking california, south, and east could see extensive brain and their concerns about mudslides in areas that have been hit by wildfires. betty: a small earthquake rattled parts of central new jersey. the 2.7 quake hit around 2:40 a.m.. so far, no injuries have been reported. a 1.9 magnitude earthquake hit in december of last year. i did not feel it. pimm: it registered so much that , i havee little apps one about earthquakes, and it sent the signal out. a big change in cuba. betty: yes, huge. pimm: we are just getting ready in havana with the flag raising ceremony over the u.s. embassy. was this morning, secretary of state speakin

we will be right back. ♪ betty: welcome back to the bloomberg market day, i am betty liu.ight to ramy inocencio. we have all caps our eyes on asia. ony: we have kept our eyes asia, and now to new york. markets are down for the second day in a row. devaluationency twice over the last two days is ruining the market. it is off of its lows for the day, but it is still in the red. down .75%. the s&p is already seeing its worst two day drop since january. dive into my bloomberg terminal. the 10ook at how each of sectors are doing. eight of the 10 sectors are losing ground. that has led by the telecom sector and the financial sector. four of the 10 are down by more than 1%. well, on the flip side, energy is up. let's look at some winners. they are hard to find. starting with -- let's change course. china's slowdown, let's take a look at yum. it is down 3.8%. wynn resorts is down by 2.8%. 50% to an exposure of china and basically, wynn 3.5%, year ton 2.5%.hey are down its 10th best for day since late june before coming down just a bit. investors are racing to safety as stocks sell

bloomberg television. ♪ ♪ betty: welcome back to the bloomberg "market day." i'm betty liu that with matt miller.t: going to julie hyman with a look at how markets are doing right now bouncing around the bottom of session lows. julie: yes, indeed. back to being the worst a lot since late january as the selling does accelerate here. earlier he saw the dow fall 270 points. near the says we are bottom, that is what he is talking about. taking a look at the action. we have been trending lower throughout the day. all of the global growth concerns percolating. the uncertainty about the federal reserve and whether it will raise rates in the mid- stood this is weighing on investors as well. in terms of stocks weighing the most on the s&p 500 because of the index weight in part, apple selling off by 2% 3%. set in thesales second quarter chinese sales fellcells -- for the first time ever, causing concern for technology investors. does the downgraded by bernstein, talking about a andlar design and a tv facebook taking a hit, down by 4%. then there is netflix, which has doubled this year, the s&p 500 best pe

. ♪ betty: welcome back to the bloomberg market day. i am betty liu with mark crumpton.ark: let's go to ramy inocencio who has a look at the markets. starting with the team of the week, media stocks got a beat down this week. ramy: that's right. media and tech is what i'm talking about. first off media. cablevision earnings came out earlier and the stock is now down 6.6%. the weird thing is revenue matched what they expected and subscriber numbers were better than expected. second-quarter revenue was 1.65 billion dollars, that was a match. second quarter consumer data high-speed net adds were better than expected. but cablevision says it will see higher capital expenditures toward the second half of the year, and that is where the stock is taking a hit. i also want to move to buy a calm. going the other way, higher after an analyst rating. now up by 2.25%. barclays upgraded the stock two notches from underweight to overweight. the price target is down from $56 to $67. currently, shares are pricing in a decline worse than newspapers which is unrealistic. they could use th

we are to tell you why that number is rising. ♪ they: welcome back to bloomberg market day. i'm betty lius get to julie hyman is looking at the big stories -- we are kind of coming back from those lows of the session. julie: it is a tight range we are seeing today. volume is not as lackluster as yesterday. we are running about 18% below the s&p 500. definitely feel a shrink and volume. dell -- and dow jones down. if you take a look at my bloomberg terminal, the various sectors, we see more red than earlier. energy is the worst performing group and tech is also lower. energy, as the worst performer reflecting what we were seeing in oil prices. earlier, we had oil trading lower and it's still near a six-year low, so it looks like ast waiting on energy stocks oil prices have turned higher. we get the weekly inventory report tomorrow and that could potentially affect things one way or another, but if you talk to most traders and analysts, the outlook is not strong as supplies remain ample and there's not a forecast the cup in demand. on one side of the commodity picture -- take a look at the

. ♪ ♪ betty: welcome back to the bloomberg "market day." i'm betty liu here with mark crumpton.k: going to julie hyman with a look at the market. julie: analysts call seems to be pushing the stock for which they affect. looking at gopro. starting with yahoo!. i have my order screwed up. yahoo! up by 6%. the stock upgraded to outperform. he looks in the list, at the some of the parts in valuation. when you look at yahoo!, yahoo! japan, alibaba, it adds up to 32 dollars per share all of that adding into the existing business. $56 overall is the price target that bernstein gets to. also says alibaba deeply under valued, which is interesting. take a look at the bloomberg terminal. we certainly have seen a big turnaround in alibaba stock as it has fallen from the ipo. falling from the peak after the ipo. yahoo! has tracked closely with alibaba. they are saying investors not taking into account the alibaba and the power it brings potentially to the table. moving on in terms of the other analysts call, now talking gopro. gopro initiated with an cowen.form at: -- ho not only for sports

bloomberg market day," we are watching oil sinking below $40. is this the end of the route? stay with us. ♪ betty: welcome back to the "bloomberg market day." i am betty liuith matt miller. matt: julie hyman is giving a look at markets which look to be hitting new lows this afternoon. julie: were talking during the break about craving cinnabons. many something to distract us about -- from what is going on in the markets. it is a painful set of days. this is the fourth down day for the major average. it looks like we are at the lows of the session for all three major averages with the dow down 357 points right now. big declines. how far down are we from the highs of the year? i have been tracking the correction, the progress towards correction. progress might not be the word depending on your perspective. from the high of the year on the s&p 500 on may 21, we are down about 6.5%. 10% is the common definition of correction. selling does accelerate today. looking for friday selling to abate are not getting their wish yet. i want to look at momentum groups giving up the ghost, so to speak. the semiconductor index entered a bear market yesterday and is still g

betty: still ahead, management shuffles on the menu at yum! brands. matt: we will break it out for you. k of c. stay with us. ♪ to thewelcome back "bloomberg market day." matt: i'm betty liure with matt miller. we have a look with -- a look at how the markets are faring with -- with ramy. ramy: some stocks are definitely seeing green. yum! brands being one of them. up 1.5%. they are seeing some recovery after a selloff after china devalued currency earlier this month. they have chosen a new ceo of their chinese division, the head of the company's kfc branch. last quarter same-store sales had fallen 10%. so, this is good news here. for james smucker, a new analyst rating could be influencing the stock. this is their biggest intraday --e since the fourth, rating raising the rating from outperform to neutral, saying that they are seeing improving sales trends and that their price target now is $125. looking to energy, fun addison falling today. off the session lows. solare the cfo of the energy company. you can see that right here. today and analyst says that backs up it is going to be slow. one interesting thing to note is in my bloomberg terminal. this is the anr function.

bloomberg markets a." i am pimm fox. betty: i'm betty liu. what a day so far. mm: we have china news and indictments that we are looking at. let us look at the top stories crossing bloomberg terminal at this moment china just made history in july 2005 when it joined the economic system and decreased its currency though you want. the country's central bank has devalued the yen by the most in two decades. they call it a one time adjustment. morgan stanley has also watched china adapt its currency. >> to have a lot of balls in the air and they are trying to do a large number of things all at once here. they want to rebound, restructured, lead globally. they want to reshape international institutions and reform the capital markets. that is always the risk they chewed off too much and they have to be more selective in identifying their priorities. pimm: devaluing their currencies should make chinese exports a little bit easier to sell overseas. perhaps less expensive now. last month, exports from china fell more than 8% and china is in the midst of its deepest econom

bloomberg markets a." i am pimm fox. betty: i'm betty liu. what a day so far. news and indictments thatar

betty liu. mark: i'm mark crumpton. welcome back to "bloomberg market day."q 100 to its biggest decline in a month, emerging-market equities and currencies falling. the markets and investors are weighing the possibility of an interest rate

bloomberg tv. it is good to see you again. glad to be here, mark. mark: my colleague betty liu and i were told about the politics in washington -- what i see happening on the republican side of the aisle is relet ends, relet -- reluctance, reluctance to move my bill because they want to see more discipline on puerto rico. talk about this call for puerto rico to be able to file for chapter nine bankruptcy protection. right,ight -- guest: there is the question of the day, mark. there is a growing cognizance of the plight of puerto rico, but we are a long way from steps taken by lawmakers. there is still 80 sense of unease lingering on the hill by the actions taken by lawmakers in the face of the crisis in 2008 and 2009. republicans are concerned that dictateate marketplace a solution. the final point, at the moment, creditors, be they hedge fund investors, longer-term mutual moreinvestors, they are organized than those seeking a solution to puerto rico at the moment. matt: a lot of creditors that we have talked to say they have tried to make deals that would work out fine. epa do

betty liu. mark: thank you for joining us on bloomberg market day. let's begin with a look at the markets on this tuesday. we've seen two days of the clients for stocks. a sea of red on wall street today. our industrials down over .25%. .5% -- shy orbout to buy the company for about $30 billion. down --es of shire let's move on to oil and gold today. all in the green. nymex crude up 1.8% at 4602 -- $46.02. betty: a check on how the bond markets are trading right now. treasuries are falling on speculation that inflation will rise toward the fifth 2% target. -- fed's 2% target. puerto rican bonds taking a dive. that is year to date, down 11%. meanwhile, in the currency markets which have seen their own fall off, the dollar is falling from a four-month high. it is still stronger than most of its major peers. let's get a look at the top stories at this hour. shire making an offer to buy x axalta. for $30 billion in shares. 36% represent a premium of and valleys the stock at $45 per share. there is no deal on the horizon right now. alta has failed to enga

betty liu. mark: i'm mark crumpton. welcome back to "bloomberg market day."he nasdaq 100 to its biggest decline in a month, emerging-market equities and currencies falling. the markets and investors are weighing the possibility of an interest rate increase next month. let's take a look at the boards. look at the s&p 500 index. it is down a full percent this afternoon. it's lower now with stocks down fourth day in five sessions. we are also seeing big declines on this thursday in viacom and 21st century fox. viacom falling the most in almost seven years after posting third-quarter sales that missed estimates. fox's earnings also fell. domestic advertising down, and we are seeing that spill over to cbs, disney, and discovery. discover is up, 1.25%. lowest level in more than four months in new york. u.s. government data shows crude stockpiles remain above the 90 million barrel mark. that is the five-year seasonal average. goldman sachs predicting an extended glut and global curde. -- crude. betty: we are seeing gains in the longer term and of the yield curve. th

betty liu. mark: i am mark crumpton. thank you for joining us on bloomberg market day. another day, more concerns globally, the ripple effects about china and what the country is doing to its currency, the evaluating -- d valley waiting evaluating --e look at wall street right now. we see a lot of red on the screen, dow industrials down 153 points. nasdaq down as well nearly a full percent. stocks in negative territory for the year. the concerns weighing on some of the other stocks in the s&p 500 and the dow jones industrial average as well. we've had one of those days where the ripple effects are still being felt. falling today, both of them down -- yum! brands down 4%. , alibaba and yahoo! sinking today. alibaba down over 6%. yahoo! down 5.5%. still a big story in oil and commodities today. we will get the latest energy report showing a less than expected decline in u.s. crude supply. we saw a lot of green on the screen. u.s. crude oil total inventory showing it is in the green come up by 25%. betty: at peak in the springtime. we saw inventory oversupply of up to 3 mi

betty liu. alix: the sec has just approved a new rule ♪ scarlet: welcome back to the bloomberg market day.loodbath ins a media stocks -- a julie hyman is going to take a look at that. this is a vary different picture than we are used to seeing with disney. julie: there was a lot of optimism going into the earnings report. now it is all dsahed. -- dashed. it seems as though there were concerns about slowing growth at espn, concerns about abc. i should mention the parts revenue came in lower than estimated. and currency is taking a toll as it has on so many companies. so i know, the stock is about 9% down. on an intraday basis, this is the worst performance we have seen in about four years for a single day for disney. take a look at the longer-term chart. the stock has done enormously well, about 365%. so it is unusual the decline we are seeing today. we have only seen a couple of days like this of close to 10% declines are more under his tenure. but this is one of the worst days that he has overseen as ceo. we are definitely seeing this spread among the other media companies. even time warn

betty liu. thank you for watching "titans at the table." ♪ . . ♪ francine: hello, and welcome to "inside fendi." we are in rome, and over the next 30 minutes, bloombergbehind the scenes of one of the most iconic italian fashion houses, fendi, with ceo pietro beccari. in 1925, two italians opened a fur and leather shop in rome. their names -- edoardo and adele fendi. the mantle passed to their five daughters, and it is there the fendi story really begins. under their watch, the company grew into a multinational luxury brand. although

thank you very much, betty liu could let us look at the top stories costing -- and let us look at the top stories crossing the bloomberg yale university is defending the way it spends its endowment could ap says that it overspent at the expense of students. yale responded by saying the criticism was based on speculation and that it provides students with extraordinary support. hurricane danny is picking up steam and has been upgraded to a category two hurricane. as wins with more than 100 miles an hour. danny is in the atlantic ocean and 900 miles east of the leeward islands. the national hurricane center says it is expected to weaken over the next couple of days. now to a small town in kentucky. 13 miles away from louisville, it is finding a way to put itself on the map. theview, kentucky became first city to file for bankruptcy since detroit two years ago. only 54 cities, towns, and counties sought court protection from its creditors since 1980. the small town joins the list. dispute of contract a local company, truck america training, over a land sale with the city resorted to pay $11 million in damages. ofse are yo