broadcom moved its head quarters to san jose, california.espite the move to the s., some analysts say the deal could ill face regulatory scrutiny. despite those potential hurdles, analysts at jefferies are bullish on theon, arguing that while the deal is a stretch from broadcom's corebusiness, pointing out that it is still consistent with the chipmaker's stragy of acquiring out of favor market leaders with high-cost structures. analysts at suntrust also pointed out that only two of broadcom's last five acquisitions were semiconductor ies and one worked with enterprise storage. for nightly business report, i'm aditi roy, san francisco. >> nasdaq closed on a record as tech stocks rallied and the broader market bounced back fro sterday's losses. the dow jones industrial averagd nced 224 points. the nasdaq was up 107 and amazon facebook closed at all-time highs and the s&p 500 gained 24. >>> to the economy now where we learned today that consumer rices rose at their fastest pace in six years in the 12 months ended in june, the consumer-price ind

broadcom is a u.s. company now, having moved from singapore not that long ago.ee's a need for japan e in the u.s they do sell a lot of services to the u.s. government but it's more about what many investors and analysts view as a change in strategy that really has concerned the overall market today. let me share a bernstein note, which by the way was not fully negative, we should point out. but here's a key part of it. they said our evening, that was last night, was mostly filled with confused and angry calls and emails as the company effectively just walked away from what it has done the last few months, what would be small m & a and buy backs. we're absolutely speechless that the company did not host broad investor conference. out of left field is an understatement, says raymond james, and even prisoners, this is back to that bernstein report, get a phone call many feeling blind sided by this decision to do a large deal, a mainfra mainframe, software, not an area where this company has been focussed, lending to the narrative that this company just needs to do

. >> any broadcom effect in terms of anything might be for sale?rationales for anything >> i don't see that extrapolation happening. ca hasn't been explicitly for sale ever. ca kind of similar financial metrics and market selling bogm. >> you might kick off one of those hey, why not, see if ceos ask for forgiveness rather than permission and try to do these deals. i don't see it reallygetting there. >> quite a disparity in action between ca and broadcom shares today. we mentioned the president in the uk steve sedgwick is there with the details. good morning, steve. >> carl, it's frenetic activity at regents park, one of the nicest areas it london we have a ring around the president who arrived about 2:30 local time to the ambassador's residence. this is a winfield house he's using that as his base. marine 1 came down he'll be taking off in a few hours' time to go to the palace. one of the most famous palaces in the united kingdom. home place of winston churchill. that's the start of his official activities here. there are a lot of protesters here i

comes on the heels of broadcom's failed bid to buy qualcomm ca shares obviously up a lot ca, big slowsoftware company broadcom is rolling off the chip industry does it say anything about broadcomwreck about semiconductors or about the appetite for mma what are the take-aways? >> it is interesting everyone's scratching their head over this. the ceo is very good at execution. the guy has not made a misstep this is plot in your wheel house, not mart of your core business, and there hasn't been yet an explanation i actually bought some today i've had it in all my portfolios for quite some time. you look at this morning four different houses downgraded but when you look at the price targets there's still 30%, 40% upside here. >> why do you think -- we don't know what his plan is, but why do you think he's not earned that kind of respect from wall street at this point having spent the last decade building brands and really pushing up margins for this company >> i love your view, but i don't think it's not so much to do with him but what's the strategic rationale for this this one doesn't se

we were just talking about this agreement by broadcom to buy ca.of the share price reaction, a good news bit from ca. they were up 19%. investors and analysts are doubtful that this is a good idea strategically for broadcom. a software firm, not the traditional semiconductor maker. speaking of pessimism on and listens, -- pessimism on hadysts, victoria secret comparable sales. officials say it is game over for victoria's secret and pink. they have seen massive traffic decline and market share losses are mounting. he says investors are ignoring the facts and they continue to believe that it is a great brand. it is great commentary there. synchrony financial is one of the worst performers in the s&p 500 according to bloomberg. walmart considers moving his brand and credit card business to capital one. this is according to people familiar with the matter and being reported by bloomberg. walmart is considering moving its brand and critical business to capital one from synchrony. . that sends synchrony shares down 1%. taking a look at the bond market, n

this is an all cash deal broadcom will pay $44.50 a share.ocked the $117 billion take over of qualcomm and papa swr johns founder re-signing after using a racial slur on a conference call. he's also re-signing from university of louisvilles board of trustees. he admitted he used a racial slur and apologized and said racism has no place in our society. >> contessa for now, thank you let's get straight to the markets because what an interesting move we were down yesterday on concerns between the united states and china today we're in rebound mode with the dow up 153 points. nasdaq higher by 26. s&p 500 is up by 10. we get data on initial claims and the federal budget that comes out at 2:00 p.m. take a look at currencies. the action there in the currency market the dollar holding ground against the euro at 116, 112 against the yen. so slightly higher. >> let's take a look at what's going on around the world. look at asian markets we're higher across the board. the shanghai composite higher by more than 2% so that's a pretty good move from what w

nick i'm looking at broadcom down 14% that's not even the worst of the day.icole: no doubt, liz you're absolutely right. we have one new low and one new high on this deal, as you noted broadcom is getting hit hard this is nearly a $19 billion deal, broadcom buying ca, and ca jumped to a new high on the 20% so that's why you see it up about 18% here and everybody is wondering what does broadcom even want ca? everybody is saying they want to diversify but i have to tell you liz all of the analysts are sitting here head scratching and wondering how can they pay so much and do they really need to pick-up this ca technologies which has been losing money and you know technology is leading us to new highs back to you. liz: well ca shareholders are happy. nicole: exactly. liz: thanks, nicole. as you've just heard adam shapiro say before the break, treasury secretary steven mnuchin denying any negative economic impact yet due to the tariffs. automakers do beg to differ though. they have already come out pretty much screaming that tariffs will push up costs and hurt bu

i think broadcom could have done better. >> i completely agree. we were talking about this before we went on the air. it is one of the head scratching things like, where did this come from? conglomerate this of something related to tech being put together. integration with customers, supply chain, with anything. it makes you kind of scratch your head as to what they are possibly thinking. if you look at the barely surfaced level, they are adding software to chips. we were talking about intel trying to buy activity a couple of years ago -- by mcafee a couple of years ago. in the end, it did not work out. i think this one is much more challenging. >> even with intel buying a much smaller acquisition in the business of designing systems using intel chips, even that did not work out. both of those acquisitions got sold for pennies on the dollar, several years later. these transactions, chips by software companies historically, the data suggests they have not worked out. emily: we will keep monitoring it. , and it was great to have you both here. apple

broadcom having the worst day ever the mood sending wall street watchers alike in a frenzy the deal wasut of left field while they downgraded the stock titled what the hawk referring to the ceo of broadcom and questioning the motive behind the acquisition did the ceo do the right thing here or is wall street right to worry? >> the stock indicates that it's right to worry and a lotof people are saying where did this come from? it makes no strategic sense for them to make this deal it is not insignificant and the stock has not traded all that well it wreaks to me maybe of a little bit of desperation. the stock has not performed over the last, i don't know, six months or so and maybe they're doing things they shouldn't be doing and that's what the street is saying. at a certain point, when does this make sense on valuation they don't have that much earnings growth, but the stock has gone from 290 to current levels my sense is if we can get into 175, they start to make more sense. not suggesting it's getting there, but that's where it should be. >> maybe it is overdone, but the thing to me

they piled into the semi-s to what broadcom was until last night and in viddium, and who can resist, fang stretched out like that double aa, amazon and apple. all the so-called experts who keep running obituaries on this group, the stocks won't quit, at least with the exception of netflix. more in a minute the defense stocks got g.e. after stalling out yesterday, the irresistible notion the europeans may step up their military spending to placate president trump, the president in chief if an arms dealer orders half a dozen and the president would give them a favorite nation status and invite them to like nine holes a dozen gets your 18 holes an illustration, bash the price of drugs like the president did, money flows to tech and makes bracelets and surgical and alumina, high-tech medical equipment and with the popularity of video games, electronics and all burst higher yet again. grand theft video? no the call of duty to buy. there's microsoft, the unsung $800 billion gorilla no one even talks about as a stalking horse to the race to a trillion marking cap. do you ever hear any sing

broadcom is said to buy ca technologies.m abandoned its acquisition of qualcomm and is trying to set its sights much smaller. qualcomm is and $84 billion company. ca is about a $15 billion company. it is also importantly based in new york. not looking like an international deal in this particular case. 44.50 a share. on today's ca shares session. if you look at the after-hours session, you have it on scarlet's terminal there. you see the pop in the shares at 16% in the ca shares. we of the qualcomm -- excuse me, broadcom shares up and trending downward on this headline. this is a journal headline we are working on at bloomberg and we will bring you any developments when they do happen. there is after-hours trade in those two stocks. coming up, speaking with tech, washington and tech are suffering the managed-care space -- are disrupting the managed care space. from new york, this is bloomberg. ♪ mark: i'm mark crumpton with first word news. members of the u.s. senate are president trump's criticism of european allies is unfo

broadcom is down 17%, its worst day ever going back to 2009 on the news that broadcom would be up $2.9illion, putting them in a different area of technology into enterprise software. it's unclear to analyst how that will fit into the chips is this. the worst day ever on record for broadcom. twitter, another big boost for the s&p 500, take a look at this, up nearly 2% on positive comments from goldman sachs, analysts saying that the company effort to improve quality should really help engagement and they will be able to monetize that engagement more so than the street's expecting and that this could override the fears around getting rid of fake accounts. not just stocks rallying today, caroline. in the bloomberg yesterday was a massive selloff for commodities. this is a busy chart. the point i want to make is that the daily swings, yesterday the commodity index was down sharply . today we are seeing a bit of a rebound. down sharply yesterday, it's worst day ever going all the way back to 2014. pretty amazing as crude oil, copper, the commodities complex just fell out. today we have a bi

we knew that broadcom was in heavy squiks mode.lcomm saying they are both chip companies be apple is a common big customer maybe that makes sense in this case the broadcom is transport kmips, kmips for wireless, moving things auto data transport efficiently whereas ca doming is all about software. >> it's a software. >> the biggest business is main frames frame more than half the refer are knew was in main sframs. the lion share of the operating profit these are two things that at first blush don't seem to go together, except broadcom is very aquestions active and the cash flow at ca reported $1.2 billion free cash flow. that makes sense they want scale. >> wasn't one of the notes out to the point was the hawk? that was a headline about the deal obvious hi everybody is perplexed that stocks reacted in that way ca is ripping because they are like wow, who knew this deal was out there? and broadcom, the worst day in history because it's a shock to people. >> one thing, either hawk 10 is trying to build out the big box enterprise tech

we're taking a close look at broadcom and ca technologies, jumping 18% while broadcom pulls back 14%.s as broadcom is going to acquire ca technologies for $18.9 billion. many of the analysts and investors somewhat perplexed. a lot of questions why broadcom has been growing and known for semiconductor chips and smartphones, why they would move into software and pick up ca which has seen declining profits and is a software company leading the questions of what's next? in the meantime, a strategic rationale, though no one seems to believe in the deal but the ceos are very positive and have come out with statements noting they're thrilled about the deal. in the meantime, a lot of us remember that broadcom was trying very hard to scoop up qualcomm. that was $117 billion deal earlier this year, this was squashed by the trump administration on concerns of national security, but you can see in this deal, the 20% premiums, that's why you're seeing ca jumping nearly 20% today. of course, broadcom taking it on the chin today. back to you, neil. neil: thank you very, very much, nicole. charlie ga

. >> broadcom may be closing in on ca technologies. that's where weeg tonight's market focus.l "the wall street journa reported the chipmaker was close to acquiring software firmor about $18 billion. the deal would come just months after the white house blocked shares of broadcom initially fell in after hours and they finished the regular day on the down side by nearly 3% to 243.44. meanile, shares of ca tech initially rose in extended hours and finished the regular day up a tick to 37.21. >> activision blizzard is bringing its esports video game league mainstream, inking a multi-year deal with disney to broadcast matches on espn and abc starting today. e deal highlights t growing popularity for esports gaming and some market watchers expect to reach into the billions of dollars in just a few years. activision's shares climbed 3% to $78.61.10 disney rose to04. pfizer says it plans to reorganize into three parts in innovative medicines division and established medicines unit and its consumer health care business. the drugmaker is m stillling over options for its consumer health

broadcom is raising questions with its latest acquisition.d to buy ca technologies for $18.9 billion. the deal offers no significant overlaps. shares are lower in premarket trading. up thatt trump brought russia plan natural gas pipeline again. the president called germany a captive of russia because the germans will buy billions in gas from moscow. >> we will have to figure out what's going on with the pipeline because the pipeline is coming in from russia so we will have to figure that out. i brought it up, nobody brought it up but me and we are all talking about it now. actually i think the world is talking about it now. kailey: that is your bloomberg business flash. startedresident trump his nato meetings yesterday criticizing germany for its alliance on russian natural gas which raises the question of if it should be looking to the u.s. instead for its energy needs and what investment would be required to buy natural gas from the united states? we welcome an expert on lng, jim barry, black rock global had a real assets. cannot imagine a

broadcom has confirmed it $18.9 billion purchase of ca technologies.de.ed in extended transformed broadcom through acquisitions into the world's top chipmakers. one of tesla's biggest investors is telling the carmaker to keep its head down and focus on performance. baillie gifford is the fourth largest shareholder. they remain supportive but would like to see peace and executions. -- execution. shares fell 1% in new york. broadcaster u.k. sky is heating up, with comcast raising its bid. us.reporter joins the credits have not rolled on this fight between these two media giants. >> not at all. companies inajor the u.s., comcast and disney, vying for sky, the u.s. broadcaster which has international opportunities for comcast and disney. as well as a chunk of fox assets. comcast has raised its offer for 14,000, which is 5% up. fox's leadings, -- fox's lead has evaporated. the question is what does this mean for a potential bid for comcast? it is complicated. it is unclear and investors are scratching their heads to know what this means for what comcast rea

larger than texas instruments, broadcom, and salesforce. this all followed facebook earnings disappointment wednesday when, for the first time since 2015, the tech giant missed analyst estimates on revenue. facebook also missed on monthly and daily active users. daily active users stayed the same in the u.s. and declined in europe to 279 million. we -- we spoke with david melissa parrish, right after the results were announced. >> facebook has missed for the first time in quite some time. although, in my world, an 11% year over year increase for active users is still a win. so the headline is perhaps a little different than my own interpretation. emily: and look, they missed on all of these metrics, but not by a lot. are investors overreacting? david: well, it is a historic day, beacuse i think it is a sign of a turn. but i agree with melissa. revenue is also up over year. this company is not hurting. but they didn't disappoint vis-a-vis expectations, and that in itself is historic. i think actually, it is probably healthy for the company t

broadcom had a $82 per share bid. stock was in the mid-60s on the preparation that maybe that deal goes through. obviously, that deal got killed and i'm actually happy about that because again we can focus on the business. they've got a lot of good things going on ship-set production is going up. licensing, patent fees going up. you have to remember that the price was arts officialartifici by that broadcom deal. >> all right >> can i -- >> question here big surprise, i know >> stock hasn't hit levels that it hit back in 2011 and 2012 so you say on one hand it's undervalued. of course it went above it with qua qualcomm on the whole tech thing. but the earnings have constantly been reset i don't understand -- i think part of the move today don't forget the big arbor, short qualcomm and long nxp. and now they're selling nxp. >> these are good questions, pete, i'm going to jump in the reason the earnings have gone down is simply because apple has told its component manufacturers not to pay qualcomm, the licensing fees tha

chip—maker broadcom says it's buying us business software company ca for almost $19 billion. the move will help it to become a world—leading infrastructure technology provider. it comes just four months after president trump blocked broadcom's $117 billion hostile bid for semiconductorfirm qualcomm, arguing it posed a threat to national security. ryanair is facing its first day of industrial action in ireland since the airline bowed to pressure from staff and recognised trade unions. the budget airline has cancelled 30 flights today between the uk and ireland. ryanair is facing further strikes in spain, portugal, italy and belgium later in the summer. papa john's founderjohn schnatter has resigned as chairman of his company's board after admitting and apologising for using a racial slur during a may conference call. the pizza chain said 0livia kirtley would act as lead independent director, and added it would appoint a new chairman in the coming weeks. shares in the chinese technology giant zte have surged after it agreed to pay a $400 million desposit aimed at restoring its

so any time i see a behemoth with a balance sheet like broadcom getting 18% erased in one trade, i have to go to work. i'm looking at this thing saying to myself, okay, ca is a dog i get it but if you look at tan's track record of taking really bad semis and slashing the costs out of them, as he aggregates small companies and squeezes cash flow out, i think he's looking at the whole idea of ca being an old crusty mainframe enterprise business and thinking, they have on-premise software, i can get the whacking stick out, cut massive cuts in cost, and then i can build a cloud concept on top of that. that's basically what microsoft does you are on your premise and use your cloud services. why can't ca get to that with a new leader i think over the weekend when the financial press gets into the story and smashes it and bashes it more, the three-day trading rule for my guys is what we're looking at we think it trades down even more i think next week is a really good entry point into broadcom, and let this man do his work i respect managers who get the whacking stick out and increase cash flo

broadcom confirming an offer for ca technologies of nearly $19 million in cash.'s get a quick update the markets now in new zealand. nowhe way for half an hour it's been steadily sinking. kiwi dollarnd the are heading south. futures here are off 1/10 of 1%. let's check on other currencies. no surprises, weakness across the board. year,nge to the u.s. 10 s&p 500 finishing 7/10 of 1% lower. let's get more. is trading gets underway in asia. china's stock market has been the highest hit -- hardest hit, how much lower might go? >> certainly as you were saying let's look at what we should be watching. china is what we should be watching. is the center of the trade dispute in the center of the route that has been going on. you can see, if you want to keep score in terms the stock 1.2 $4 this year trillion has come out of china's stock market capitalization. the u.s. stock market cap has gone up by 1.3 5 trillion. if your donald trump and the u.s. government you say trade war's are easy to win in market terms. hand, the on the one pressure from the trump side is going to

broadcom with a $19 billion deal, all cash for software maker ca technologies.ounding after posting it's biggest drop in more than a year it's thursday, july 12th

emily: the blocking of the broadcom and qualcomm deal is something qualcomm wanted. isaac, has president trump hurt an american company, qualcomm, as a result of this america first a strategy? >> it certainly would not be the first time. i think there is a lot of frustration among american companies about how trade tensions are going and tariffs on chinese goods making it harder to deliver products to american consumers. american companies don't have the same of session with the trade imbalance that trump does. trump, navarro, other people at the top of the administration feel strongly about rectifying a trade imbalance, but most of the serious economists out there and businesspeople out there do not feel that is a problem in terms of doing business with china. there are more interested in intellectual property issues in market access issues. they don't care about the trade imbalance. emily: qualcomm, romaine, has other problems. the stock is on his way to its third year of annual declines and also in a big standoff with apple around the world. romaine: that is getti

this, what killed the deal and what extent do you blame qualcomm because they got involved in the broadcomeal? rick: that had nothing to do with approval in china, it could have created confusion but nothing about regulations or issues that china could identify that could not be resolved. it has to be political or some other reason. it is not about the transaction itself. david: if it is not about that and it is political, trade issues, what does that say about any deal involving semi conductors going forward. is there another deal that would get approval? rick: i cannot answer that question. when you think about it, it raises question. there has been a few transactions that have been approved recently. a purchase of toshiba. for some reason they do not approve this transaction and for us it is about how we move forward. shery: qualcomm had legal dispute with apple and samsung. how is your relationship with them now? rick: it is fine. they would have been a huge opportunity to create the semiconductor industry powerhouse going forward that we do not have that now and we have a bright futur

this after president trump the acquisition of qualcomm by broadcom.omaine: there's a pretty clear message coming out of the administration here. that's really any mergers, especially cross-border mergers are going to be denied. not in the context of whether it is good business, but whether in the context of whether it is in the trade war or in good politics. he saw qualcomm alluding to that and that is one of the reasons they wanted to walk away. i think that will give a lot of companies pause going forward because you're not really navigating antitrust issues in some of the more traditional issues with regulators. this is really about how does your merger fit into the new policy initiative by the united states government, and doesn't conflict with what they are trying to do in inserting -- a searching their influence over trade partners. they: the blocking of broadcom and qualcomm deal is something qualcomm wanted. isaac, has president trump hurt an american company, qualcomm, as a result of this america first a strategy? >> it certainly would not be

emily: the blocking of the broadcom and qualcomm deal is something qualcomm wanted.has president trump hurt an american company, qualcomm, as a result of this america first a strategy? -- strategy. >> it certainly would not be the first time. i think there is a lot of frustration among american companies about the way trade tensions are going and tariffs on chinese goods making it harder to deliver products to consumers. american companies don't have the same obsession with the trade imbalance that's trump does. trump, navarro, other people at the top of the administration feel strongly about rectifying a trade imbalance, but most of the serious economists out there and businesspeople out there do not feel that is a problem in terms of doing business with china. there are more interested in intellectual property issues in -- and market access issues. they don't care about the trade imbalance. emily: qualcomm, romaine, has other problems. the stock is on his way to its third year of annual declines and also in a big standoff with apple in various disputes around the w

thes up 18% since 2008 on news that broadcom and the chipmaker is purchasing enterprise software for18.9 billion. texas instruments is up nearly .% ahead of the earnings report and the storage company initiated at guggenheim with a by, the company said to be making great nice progress with its hybrid cloud platform. but if we hop act into the bloomberg and take a look at the same stocks, these are the daily moves for the faint stocks. -- fang stocks. and overall they did gain just slightly today, up half of 1%. down more than 5% yesterday, his worst day since june of 2017. volatility.on will it spread to stocks, mark? mark: thank you very much indeed, abigail. right, let's get to that egg news out of the u.k.. the storm over brexit, theresa may announcing a plan to keep the u.k. tied to the single market with a free-trade area for goods and services being cut loose. our bloomberg news director for europe, the middle east, and africa is with us. we had the three page a week ago, 98 today. fill in the gaps. >> there aren't a huge amount of new headlines, really. nothing has particularl

yesterday, we talked about broadcom announcing a $19 billion takeover this decline. it knocked up the value of the takeover and many analysts are questioning the financial and strategic logic behind the move. let's go back to the bloomberg because the big news on friday, the banks are reporting earnings. this is called flying high. u.s. banks posted the highest since the financial crisis. earnings are expected to be robust. that will be the big question. will they be robust? it may determine the market direction. paul: looks like we are heading around to over the battle of at&t's takeover of time warner, the u.s. justice department appealing the decision, allowing the merger to go forward. su: this is a highly unusual move. washington rejected their attempt to block the merger. we did see at&t take ahead, but friday trading will reveal how this is being pursued -- perceived by investors. could this happen? could the appeal overturned the decision? many analysts say unlikely. they are reviewing mistakes made by the lower court. but what they couldn't do is be a rebuke

broad com -- broadcom ca.is your thought on the valuations. >> i have to give frank' credit for orchestrating that. some of it is companies going into new categories, and some of it is companies in hardware businesses recognizing it's a dead-end street over time not to be in software. it's the software layer of the technology stack where the value is delivered, where the margin performance is better and where the customers, the c level customers get involved in i.t. so that's where you have to be. and it's not a surprise. maria: are you still in an inquils tough mode? are there holes you want to fill? >> we are not look at anything big, we have the assets. and we have got a tremendous offering right now. maria: is now the time with valuations where they are? >> it's interesting you ask that question. i have seen desperate buying. if you look at some of these best of breeds, the companies they are buying at a 20x valuation. we don't do 20x deals. we don't do 20x deals because we don't have to. but sometimes whe

juliette: broadcom has acquired -- agreed to branch out into corporate software.emiconductor maker whose industryon lead the will pay 20% premium to the closing costs yesterday. the deal will ask for earnings once completed, which is expected in the fourth quarter. wrangling on year ownership of the giant mine. a signing ceremony will be held in jakarta at 10:00 a.m. u.k. time. details of the agreement were not included. ceo of partner rio tinto said he is keeping his options open. comcast has increased its takeover bid from sky. escalating a global standoff between the media giants. a deal foroffering the sky. juliette: it already owns a stake in the european broadcaster. that's your bloomberg business five. manus: thank you very much. this battleck to for sky between fox and comcast. david, good to see you this morning. comcast comes back at 14 pounds, $34 billion. , it's hardly what butwould call a knockout, he expected 18 pounds. what do you make of the bid? that comes to just a little more than 5% above the previous thread. so it is more to the story. than tw

broadcom nearing a deal to buy software company ca technologies for about $18 billion.ording to dow jones report and could be announced later today, the deal coming just months after broadcom's $100 billion bid for qualcomm that was blocked by president trump. david: speaking of deals, media and tech moguls are kicking off the annual alan and company sun valley conference this week in idaho as we're in the middle of some of the biggest media deals ever made. charlie gasparino is breaking major stories from the conference. he joins us with the very latest. hi, charlie. >> fox business has learned that i have not been thrown out yet. david: we'll start with that we were worried about you. >> i know donald trump hates anonymous sources but i'm going to say, mr. president, sources are on the record saying this, that i have not been thrown out of this conference. david: anonymous source, charlie, you revealed yourself. >> that is what i'm saying here. here is the deal here, we'll quote on some anonymous sources of deal-making going on here. as we reported today everybody thi

ed: it is the subject of a takeover attempt by broadcom.locked broadcom so they could not make the deal. now china will blog qualcomm. scarlet: tit-for-tat. ed: it is tit-for-tat. i think qualcomm has a lot of other things going on at the moment that it would be focused on. 5g,as this huge growth in touted the future driver of its business. the other thing is a slight side issue but the fore -- the former chairman of the company said he would like to do some leveraged buyout, which the by far the biggest of all time there are other things going on that will keep qualcomm in the news. julie: thanks. appreciate it. we will get more news later this week obviously. coming up, we are monitoring a press conference that the president -- i should not say press conference. an event. the president is surrounding his maiden america initiative. he will participate in the showcase at the white house. we will monitor that event. you can watch it on the bloomberg. representatives from all 50 states where the companies make products in america. scarlet and

official results show former cricket star in broadcom has one pakistan's election his party has taken one hundred nine seats in the national assembly compared to sixty two one by its nearest rival that's not enough to form a majority government though meaning can will have to seek out the allies to form a coalition. and north korea has handed over the remains of american soldiers killed in the korean war a u.s. aircraft brought the remains to an air base in korea the handover follows an agreement reached by north korean leader kim jong un and us press of donald trump and their single poor summit back i'm sure. they're watching the news coming to you live from berlin wall coming up at the top of the hour in the meantime you can get all the latest news around the clock on our website at www dot com. it's a pioneering ecological project field tested and award winning. in garden city in northern iraq it's all about sustainable living. nice right over the want to in new york. city but if element that will hopefully find the day to. go ahead to africa next w. . kickoff life. they're ready t

broadcom could have done better. one of those head scratching things. from?did this come clearly it's this conglomerate to tech put related together. there's no integration with customers or supply chain with anything. it makes you scratch your head, what are they possibly thinking? at the pairly surface level, they're adding chips, we were talking about intel trying to buy mcafee. that was an effort. some degree of sense. this one is much more challenging. with intel buying wind river which is a much smaller theisition which is in business of designing systems using intel chips. both acquisitions got sold for pennies on the dollar. transactions, chips buying software companies historically, hasn't worked out. monitoring --cop keep monitoring it. power up apple's new house. the giant unveiled new line of pros.ok next. emily: an is -- apple is releasing new version of the laptop. they up veiled new -- unveiled pros.ne of mac book this coming as apple remains in fourth place market share wise for global pc shipment. and dell.p, lenovo about the macial brook pro

what killed this deal and what extent do you blame qualcomm because they got involved in the broadcomeal. >> i think that had nothing to do with approval in china. it could've created confusion, but there was nothing about regulations or issues that china could identify the could not be resolved, especially with transaction. it has to be political or another reason. it is not about the transaction itself. >> sews not about the transaction, it is political and has to do with trade issues, what is that say about any deal going forward? is there any other deal that would get approval? >> i cannot answer that question. that's not something i'm in a position to respond to. it certainly raises questions. there have been a few transactions that have been approved recently. banks purchasing toshiba and others. they chose not to approve this transaction and for us, it is about how we move forward. >> and qualcomm had legal disputes with apple and samsung as well. how does your relationships it now? >> our relationship with qualcomm is fine. there would have been a huge opportunity to create th

nvidia,panies like apple and broadcom. all three get more than 20% of their global or annual revenues from the chinese market. they are sitting ducks potentially if china looks to these nontariff barriers. of you hear from the life mary left late who is a china expert saying she doesn't think beijing will pay that card yet. >> i think they are unlikely to do what some of their has said they will do is to retaliate to u.s. businesses operating in china. i see that something way down the road. saying is any china's interest to be open and a good place to invest here to pointed to the tesla deal with talked about yesterday around a factory in shanghai. it should be noted that other oversight ofe mergers, one being the annex p merger worth $40 billion. they said it needs to be done by july 25 and they need china to sign off. that looks unlikely at this page. deutsche bank pointed out that if you take into account u.s. exports to china and those corporate revenues and wrap them together, you're talking about a trade surplus for

i think it is a bit disingenuous a the ceo to say it was not target of the broadcom action.hat got blocked as part of a bigger dance around trade and tariffs is nonsense. look at what they said at the time, they said they were blocking it because they did not want china to get a leg up and 5g and the semiconductor space. so why would china want the u.s. to get a leg up in 5g and semiconductor space? that would have happened if the deal had gone through. so there is often in cause and effect in the two things. scarlet: tit for tat. we have been talking about this deal so much, and i met a celebrity today. i said to him, you are the heart of our soap opera. but what about morale issues they might be facing now this deal has collapsed? ed: he said look, this is a great company. they have a lot of growth areas they are in, particularly the automotive business, which is their strength. he was very clear that he does not see m&a as being part of the near future growth prospects for an xp. he thinks they will continue as a stent -- nxp. he thinks they will continue as a standalone.

shares at broadcom are lower.d's biggest miner's watching the trade war between the u.s. and china closely. simple. there are two key drivers. gdp growth, it is strong. the other is trade. nine out of 10, 90% of products are from one country to another. taylor: that is your bloomberg business flash. francine: thank you so much. moving onto central banks, the ecb has signaled a rate hike will not happen until after the summer of 2019. our next guest, former ecb governing council member and former governor of the bank of greece, he presided over the ecb during the financial crisis. george provopoulos and stephanie flanders, still with us. overall, stephanie, layout the concerns people have on ecb? it is about cycles. should investors worry more about a cycle in the u.s. turning and the ecb not having to raise rates enough to deal with the next downturn? stephanie: that is the question all central banks are asking. the problem with eurozone is, it has been so early to get the proper recovery but it has felt for a whi