david: all that ahead on "bloomberg businessweek." ♪ lisa: welcome back to "bloomberg businessweek." am lisa abramowicz come in for carol massar. david: i am david gora. you can also listen to us on the radio on sirius xm channel 119, am 1130 in new york, fm 99.1 and washington, d.c. lisa: in this week's global tech edition the british defense , contractor who is developing a weed breathalyzer? david: we spoke to the cto. jeff: states like washington and colorado and perhaps in d.c. where marijuana has been legalized, we were looking down the road and deciding that at some point law enforcement officials will have the need to decide whether a driver is driving under the influence of thc, marijuana. we knew in our company we had technology that we could leverage and bring to bear on the problem of how do you detect when someone has consumed it without an invasive test? if you could develop a breathalyzer to do this, that would be the ideal approach. we have had a relationship with washington state university for almost 15 years. right about the time that we saw the opportunity to deve

of "bloomberg businessweek."et's start in the global economic section. you have a nice graphic showing how folks in the uk and outside feel about the oncoming referendum. it seems like there is some consensus. ellen: they want the uk to stay. all of them want them to stay. germany, the biggest economy in the eu, wants them to stay. the only country where a large number of people really were not sure what they thought was poland. i cannot explain that. lisa: but it is interesting. ellen: it is interesting. in the uk the polls are looking more and more like people want to leave. it really shows that there are big differences. david: the issue is trade mostly? ellen: the issue is trade. although now they have a lot of stories pointing out that the uk has a lot of economic problems, but many have nothing to do with the eu. a lot of people really want out. lisa: how much of this has to do with immigration? it is a big concern that people have. when somebody comes into one country, they can go into any of them. and the

all that ahead on "bloomberg businessweek." ♪ carol: welcome back to bloomberg businessweek.id: be sure to listen to us on serious xm ma'am 1200 in boston and a.m. 960 in the bay area. 40 wall st is -- what is the favorite story of yours? >> they would be tied between two separate guys who faked their suicides, allegedly, once they got into trouble. one of them just went to jail a couple weeks ago. , his scam came to light in the wake of 9/11. both of them allegedly picked their suicides. carol: a laundry list of crazy schemes. people, companies at 40 wall. it is a donald trump building. >> it is a donald trump building. no one had ever looked at 40 wall. it's one of the most important parts of donald trump's empire. he's got golf courses and trump tower. 40 wall, there are few things that are worth as much. wall, fornside 40 example, a lawyer pleaded guilty to stealing money, millions of dollars from his clients, he pled guilty a few weeks ago. are people mother with strange stories getting in trouble with regulators or getting in trouble with the law. david: what made you i

lisa: ahead on bloomberg businessweek. ♪ lisa: welcome back to bloomberg businessweek.amowicz in for carol massar. david: i am david gura. you can also find us on the radio. technology section, white tech companies are on a hiring spree for economists. lisa: we spoke to patrick clark. patrick: if you are an economist and want to learn about the world, a tech company is a great place to go. david: what is the demand like 40 economists? it is often not just one guy on board. patrick: amazon did not tell me how many they have on staff but i heard anywhere from 60 to 80 now from friends who have worked there or have been interviewed, and they have another 30 some jobs posted. perspective, ao was cause to believe they might have a big bank like wells fargo. according to the national association for business economists, 20 to 25 is a big number for a big team so amazon is triple or quadruple. lisa: i understand from the economist point of view, they get more money, a trove of behavioral economic data they can derive theories from. from the company standpoint, what are they lo

businessweek." i'm carol massar. david: and i am david gura. we are inside the magazine's headquarters in new york. carol: the real-life consequences of takata's recall. david: canada's fire from hell. all of that up ahead on "bloomberg businessweek." ♪ david: here is ellen, our editor-in-chief at "bloomberg businessweek." let's start with the opening remarks section. a lot of people who do not like donald trump have analogized him to fascists of old. you are taking that argument apart this week. ellen: yes, we are saying he is less like mussolini than the former prime minister of italy. over the last 10 years, democracy has waned all over the world after it being on the upswing. if you look at freedoms, freedom is on the downswing as well. more and more, you see leaders describe him as having a blow torch manner. leaders like trump who are a little bit in that mold coming to the fore. david: using the media in the way that berlusconi did. ellen: right. we talk about thailand and turkey, where you h

sheelah: welcome to bloomberg businessweek. in this week's special technology double issue, silicon valley is serious about flying cars. how intel makes chips, and how to shoot like steph curry. i am here with the editor of bloomberg businessweek, ellen pollock. we are talking about the annual tech issue. before we get into the tech and cool things, talk to us about the opening remarks column. i read a really closely. it's about venezuela. they are having serious economic issues. pertaining to the weather. can you explain that? reporter: we have written a lot about venezuela, and shove it is. now we are looking at how the weather can make bad problems even worse. obviously, the economy is a mess. but the weather change with el niÑo, and there has been devastating droughts, which has obviously affected the economy. >> what are the repercussions for average venezuelans? reporter: they are adjusting, they have to adjust more to all the problems. it has actually affected not just agriculture, which is a big problem, and shortage of

sheelah: welcome to bloomberg businessweek.l ahead in our double technology issue, inside the intel chip machine, creating a long-term stock exchange, and deconstructing steph curry's free throw. ♪ i am here with the editor of bloomberg businessweek, ellen pollock. there are more must reads in this issue. you know, next we are going to turn to an interesting story about the next debt crisis. i thought the story was bananas. i had no idea that so many companies were on the brink of financial disaster because of their reckless borrowing. can you tell us about that? ellen: in our last financial crisis, consumer debt and mortgages were the problem that created the crisis. now people are worried there is a lot of corporate debt and that's because interest rates are low so companies get a lot of borrowing. now they are loaded with debt. there is sort of this worry. with all the uncertainty of the economy, the question is are there going to be more defaults? is it going to spark another crisis? sheelah: what does it mean when companie

all of that ahead on bloomberg businessweek. ♪ carol: welcome back to bloomberg businessweek.you can find us on serious -- xirius xm. carol: 99.1 fm in washington and am 960 in the bay area. a dozen republicans are competing in the california primary. up for grabs, a chance to replace retiring barbara boxer. the republicans in california who want you to vote for democrats. josh: republicans look like they are headed for an unprecedented embarrassment that comes with an awkward but valuable concession price. this could be the first time we in in many years a ballot california were senate where there are no republicans on the ballot. but that means voters could be could getrs who to decide which democrat makes it into the senate because of the top two primary system where candidates from all parties are on the ballot in the primary season together and the top two make it to the general. it is also because of the poor registration that republicans have in california. the enthusiasm of democratics going -- democrats going to the polls for the presidential race. the democrats signi

this will be out on "bloomberg businessweek." as he addresses what to do with his daughters. that is always a key topic. "bloomberg surveillance." ♪ francine: welcome back. good morning. let's get straight to the bloomberg business flash. : tesco reported a second straight quarter of domestic sales growth, the first time it has happened in five years. tesco's ceo has been trying to win back unhappy shoppers by offering lower prices and better service. drivers in the u.s. are burning gasoline at a record pace. they are taking advantage of the lowest prices at the pump in more than a decade. consumption is up 4% from a year ago. the average retail price has fallen 17%. twitter is closing in on deals to stream more live events. gamesles on pro football in twitter have been better than expected. that is your bloomberg business flash. tom: thank you so much. greatly appreciate it. paul sweeney with us. he has built bloomberg intelligence. it is a smart set of industry coverage. mr. sweeney has looked at the media business for a few ye

businessweek."a. we are inside the magazine's headquarters in new york. this addition, the real-life consequences of takata's recall. david: canada's fire from hell. all of that up ahead on "bloomberg businessweek." ♪ david: here is ellen, our editor-in-chief at "bloomberg businessweek." let's start with the opening remarks section. a lot of people who do not like donald trump have analogized him to fascists of old.

. ♪ vonnie: bloomberg businessweek is out with its annual technology issue. of the stories is about the --uggle of being asked shery being a tech startup in egypt. ellen: last year, we looked at "what is code?" this issue, we are looking at tech all over the world. it is 70% beyond silicon valley. europe,asia, ar everywhere. one of those places is cairo. tell us something about cairo we don't hear an awful lot about. ellen: it is pretty young. theocus on one place called -- lots of inventors working together in a safe space. you work there with 3-d printers. it is part of the new tech scene that sprung up since the twitter revolution five years ago. where are these young tech startups beginning? at the schools and colleges and cairo? even earlier than that? ellen: they are learning to code young images by people all over the world. -- just like people all over the world. you have to have a passion for starting something on your own. capitalhere is venture money there. it's not like it is in silicon valley. there are people starting small projects, looking for

all of that up ahead on bloomberg businessweek.ot of people who do not like donald trump have analogized him to fascist of old.

of "bloomberg businessweek."n the global economic section. you have a nice graphic showing how folks in the uk and outside feel about the oncoming referendum. it seems like e

david: all that is ahead on "bloomberg businessweek."llock, editor-in-chief of "bloomberg businessweek." let's start in the global economic section. you have a nice graphic showing how folks in the uk and outside feel about the oncoming referendum.

businessweek."assar. david: and i am david gura. we are inside the magazine's headquarters in new york. carol: the real-life consequences of takata's recall. david: canada's fire from hell. all of that up ahead on "bloomberg businessweek." ♪ david: here is ellen, our editor-in-chief at "bloomberg businessweek." let's start with the opening remarks section. a lot of people who do not like donald trump have analogized him to fascists of old.

editor in chief ellen pollock appears in the latest edition of bloomberg businessweek. you can find it on the website at bloomberg.com. puerto rico has $2 billion in bond payments due in eight days. the island governor says it will default on its general obligations. even if services are halted. the governor made his remarks today in washington, where he is lobbying for congressional approval of legislation that would set up a framework to restructure puerto rico $70 billion debt. the u.s. senate will take up the measure next week. in a major victory for supporters of affirmative action, supreme court upheld the right of the university of texas to consider race in its admissions process. againsted for-three, abigail fisher, a white woman who said she suffered his termination when she was rejected by the school in 2008. excused herself because of previous work on the case when she was the u.s. solicitor general. a baltimore cop facing serious charges in the 2013 death of freddie gray has been found not guilty. he opted for a bench trial instead of one by jury. he drove t

you must check out the bloomberg businessweek story. it is a great story.s go to the spider report. remy has that. ramy: i'm looking at materials, specifically the x lbs. it tracks the materials sector. we are at session highs up 1.5%. for the most part going gangbusters in terms of individual equities. 25 on this are up. red.s flat, one is on the fertilizers, painters, all higher on the day. but go to fertilizers. mosaic is up 4.7%. this is the highest in 10 days. potash up 5.5%. cf industries also 1.5%. the news here dictating what is happening is that india is reporting close to signing a deal with potash, and traders see that as a positive sign for rebound in fertilizer demand. negotiations will, next week. on two minors, i wanted check on freeport mac brand, rising more than 2%. had high closes in the past seven weeks. this is because of the copper copper raising for the sixth straight day in the rally. of rising2.8% off aluminum. painters, ppg, neutral. david: moore "bloomberg markets next. ♪ ♪ david: more highlights from the global entrepreneurship c

david: all that is ahead on "bloomberg businessweek." ♪ david: here is editor in chief. in the global economic section. you have a nice graphic showing how folks in the u k and outside feel about the oncoming referendum. it seem

. ♪ sheelah: welcome to bloomberg businessweek.technology double issue, silicon valley is serious about flying cars. how intel makes chips, and how to shoot like steph curry. i am here with the editor of bloomberg businessweek, ellen pollock. we are talking about the annual tech issue. before we get into the tech and cool things, talk to us about the opening remarks column.

of bloombergudway businessweek. uber recently announced schedule drives. interview with jeff holden is coming up next. ♪ david: from bloomberg world headquarters, this is "bloomberg markets." let's start with the first word news this hour. mark: president obama will travel to orlando, port of thursday to pay respects to the victims of the weekend nightclub shootings. across thebeing held country. thousands gather to remember the 49 people killed in the attack. the senate has defied a white threatico threat -- veto 85-13 -- bill president obama objects to numerous provisions. the white house also opposes provisions that would limit the size of the national council staff and block a new round of closures.ace -- base -- father of revis dean camp steencamp -- one of the big issues in the brexit campaign. the u.k. wants to restrict access to benefits for migrant workers. global news 24 hours a day, powered by our 2400 journalists in more than 150 news bureaus around the world. i'm mark crumpton. david: commodity markets are closing in new york. it's taken look

bloomberg businessweek took a look at how takata ended up in so much trouble. ,he biggest in u.s.tory more than 60 million airbags being recalled. as of may, only about 8 million have in replaced that have been replaced. there just aren't enough replacement airbags to go around. it is hard for car dealers sometimes to find the owners of used cars. a lot of the cars and most danger are older. recall notices have arrived at the homes of people weeks and months after they been in an accident. shery: we've seen these criminal investigations, personal injury litigation's. -- litigations. has been settling some of the personal injury lawsuits, once where shrapnel has damaged, injured somebody. and honda have been settling those cases. there is a big class action that is coming up. there are a few cases where people have decided not to settle. shery: how much could this cost takata? susan: it is hard to say for sure. there's estimates of $11 billion. backtakata starts paying the automakers. shery: what is the problem with these airbags? switchedkata propellants, choose to use one with am

you can read her story in the latest "bloomberg businessweek."julie hyman has a check on today's decliners. julie: tesla falling today on some comments passed from elon musk who is saying the free ride is over when it comes to superchargers. .he super charging stations likely charge owners of the model three sedan to use that. cheap, farll be very cheaper than gasoline, but there will be some cost involved. the stock is down 2%. i like to check on the short interest of this company. this chart, you are looking at the stock price in white. here is the short interest ratio. on this site, you have the absolute short interest. it has come down to some extent likely because these shorts got squeezed out. 29% upload, still relatively high level. a lot of people not that confident in the future direction of the stock. said they will sell seven point and bill and -- $7.9 alibaba.f shares of alibaba down by 5%. looking at sears today, this appears to have to do with a lost anse here -- kmart appeal in a false claims act having to do with its pharmacy busi

you can read the story in the latest bloomberg businessweek. a look at u.s.s we head toward midday n the u.s. the dow jones industrial average holding on to gains. the s&p 500, about .3% higher. the nasdaq is up .3%. i was looking at the volatility index because it is a low 20 but it is elevated. the 10 year yield is down to 1.59%. innt crude following inventories paring back its declines, but still down .3%. you have been watching the european close. ♪ ?c+sv david: it's noon in new york and midnight in hong kong. welcome to bloomberg markets. from bloomberg's world headquarters in new york, good afternoon. here is what we are watching this hour -- stocks rebounding ahead of the fed decision which is now just two hours away. while a rate hike is unlikely, what does the fed's statement and thought lot tell us about future decisions. has to seeim chanos about the late inclusion of china a shares, one of its key benchmarks. and we have a national poll giving hillary clinton they double digit lead over donald trump. what's next for bernie sanders? we are halfway

piece thatery cool you can read in the latest "bloomberg businessweek. outlookg up, for gold of the brexit comes to pass. can gold hit the levels it saw in 2011 and mark -- in 2007? ♪ ?c+sv david: from bloomberg plus world headquarters in new york, this is bloomberg markets. vonnie: let's start with headlines on the bloomberg first word news with taylor riggs. taylor: we're sticking with the story and that u.k. were a british member of parliament has died after being attacked. the labour party's jo cox was meeting with constituents in yorkshire when she was shot twice. a suspect has been arrested. witnesses told the bbc he had a handmaiden god. -- handmade gun. hundreds of people marched silently through paris suburb to by thoseplease killed said -- said to be in allegiance with islamic state. toebook is being asked provide the senate homeland security committee with the information online activity of omar mateen.n, mark zuckerberg was sent a letter saying during the attack, the team made several facebook posts and searches. the f ei is trying to establi

you can tell the story in the latest bloomberg businessweek. ♪ e betty: this is "bloomberg markets." let's start with the headlines. mark crumpton has more from the newsroom. isk: tropical storm colin gaining speed and strength as it takes aim at florida later today. it has maximum sustained winds at 50 miles per hour with some slow and the strength possible. the center will approach the coast of the florida big bend. this afternoon or tonight. governor rick scott has declared a state of emergency. residents in on oregon town have been given the all clear to return home. they were repairing damage from the train that crashed and sparked a fire. 10,000 gallons of oil have been removed on the plants. president obama will make his first visit to spain for meetings on the economy. then he will be in poland beginning july 7 for a nato summit in stopping that he will meet with the prime minister during his visit. he will hold talks with spain's king. nba m.v.p. steph curry is withdrawing from consideration to play for the u.s. olympic basketball team. he decided to pull out for his words,

some big thinkers in silicon valley -- vonnie: their plans are revealed in the latest bloomberg businessweekbrad stone us from san francisco with more. take?how long will it probably many years. the dream of flying cars has been with us in popular culture for a long time. there have been lone inventors, thinkers. workinght think crazy on this for decades, losing a lot of money. there are many companies around the world that think a personal electronic autonomous aircraft, the kind of commuting airplane for you and your family as possible. the big revelation is the alphabet ceo, larry page is personally financing two of these companies. betty: who are these companies? brad: what has been active for quite some time, z aero. they fly a prototype out of the holster airport. that's hollister airport. larry page has been unimpressed eeth the rate of progress at z and has started to finance a second company, a competitor called kitty hawk. was listed asne the president of the registration papers with the state of delaware that we found for kitty hawk. different technical orientation to realize the

. -- bloomberg businessweek. ♪ david: from bloomberg world headquarters in your this is bloomberg marketss start with first word news with mark crumpton with more in the newsroom. mark: thank you very much. the presumptive republican presidential candidate, donald trump, speaking at this hour in new hampshire. let's listen in life. trump: secret service agents have seen her under pressure and in times of stress have stated she lacks the temperament and integrity to be our president. there will be plenty of opportunity to discuss these important issues at a later time and i will deliver that speech very, very soon. but today, there is only one thing to discuss, the growing threat of terrorism inside of our borders. the attack on the pulse nightclub in orlando, florida, was the worst terror strike on andsoil since september 11 the worst mass shooting in our country's history. so many people -- just hard to dead,e -- so many people so many people gravely injured, so much carnage, such a disgrace. the horror is beyond description. the families of these wonderful people are totally devastated

editor in chief writes about this in the latest bloomberg businessweek. john joins us now.eact to what happened this morning, governor carney saying to expect more easing come out in from the cameras again with a major speech today? john: what is odd about carney is that he manages to seem very presidential and calm when the markets panic. he's a person who people are looking at this moment as the adult in the room, and i think most of the things he has done have been correct. he got into some trouble during the campaign for appearing to be a doom-mongerer, but at least in the face of it it appears he was correct to tell the british people that if they did it, there would be consequences to their mortgages and other things, and he has been proved right. vonnie: right now, he's the only one talking in concrete policy, concrete steps that can be done in terms of the economy and so forth. what on earth happened this morning, between 9:00 and 12:00 british time? john: that is hard to say. [laughter] it seems to be something along these lines. i think michael gove, and michael g

i am here with the editor of bloomberg businessweek, ellen will look to talk about the current issue.he want to talk

i know you'll be doing a bloomberg businessweek interview with president trump. came off the helicopter today norse of where you grew up. explain how he was greeted by the scots. what did they think of this display? >> they went along more for the pageantry than anyone else. donald went there and told them how wonderful it was to get out. this.are common themes in in a think hillary should worry about this. what happens is we kept on every x in the world that it would be very dangerous for them to do this. there is a strong sense that we want to show them. it could argue trump is a similar version of that. erratics he have to be a new prime minister does he have to adapt and adjust? >> it is a complicated political and eight. you have the party to the right of them, the united kingdom independence party. it kind of disappeared. if the only purpose was to get them out of the european union, it gone. i think that by any means or any measure, his performance was not exemplary, and he was left of the party. it, you'rele of going to have to have one person prime minis

he told bloomberg businessweek you would be a good entrepreneur. reid: he would.oes government need to do? reid: two parts, one of the classic, role of law, ease of formulating business, ease of doing investment, ease of getting customers, getting off the ground, reliability of culture. and then also kind of an ability to provide enough of an at that it is a risky thing, -- other f a net, that is a risky thing, so make it totally like it is not death if you hit the ground and you can recover and play again. in more detail, it is building networks and helping them form. it is part of what this summit is about, part of what creates companies and part of what makes silicon valley where because we have networks of talent, customers, capital. those are the things that amplify on chipping in russia. emily: you are part of a group business leaders that endorsed hillary clinton, including warren buffett, eric schmidt, why hillary and why now? reid: i think hillary has a great track record and history of experience. almost the most prepared candidate ever for the job. she

you can read the full interview with president obama in bloomberg businessweek.laims are coming out. ♪ you guy's be good. i'll see you later [ bark ] [ bark ] bye. see ya pal. ever wonder what your pets do when you leave home? [ laughing ] aw you cutie pie. aw. aw. aw. aw. [ barking ] [ washing machine running ] party's on! know what your pets are up to with xfinity home. xfinity. the future of awesome. see the secret life of pets, in theaters july 8th. jonathan: this is bloomberg . i'm jonathan ferro. 60 minutes away from the open in new york city. futures are higher, almost one full percentage point so far. the ftse 100 on a five-day winning streak. we are rolling towards the close in london. a strong pass story in the fx market. the economic data comes out in the u.s.. initial jobless claims dropped more than forecast. week -- falling 18,000 last week. the markets clinging to their highs to the yields. futures stand firm. up almost one full percentage point. let's get to today's morning meeting, where we hear what he banks are looking at. --p castille is l

little effect, seems to have backed away from the spectrum where you interviewed me about this in businessweek several years ago, we have advocated a tariff not for the purpose of shutting down trade but for the purpose of bringing them to the table because if there is anything the united states lacks with china it is credibility that we will act. maria: trump's speech a little bit of craziness but what you said yourself about minimum wage creating problems, obamacare creating problems and they think hillary is going to win, those are things she is linked to because she can't criticize obama the way trump can. >> that is true and i expect those things to continue but the economy does grow at 2% a year with those policies. i think it is the uncertainty trump creates and the fact that every day there seems to be a new donald trump. yesterday's trade policy talk was surprising in some regards and i wonder just who is writing this stuff over there. the trump campaign reminds me these days of an elvis road show. it go city to city, put on a great show, rallies its fans. when it leaves it leaves ver