all that ahead on bloomberg businessweek. ♪ >> we are here with bloomberg businessweek editor-in-chiefegan murphy. let's start with the opening remarks. you do a great job summarizing a complex edition but it keeps on going deeper and that's the political corruption that exists in brazil. tell us how you guys sort of took decades of corruption and synthesized it into this really good piece. >> we wanted to show that even decades of corruption is actually sentries old in brazil and sort of peel back the layers of the carwash scandal, which is this latest scandal that's been enveloping brazil. it takes us back to the president before her and its enveloping in the existing president and has the roots in the structure of brazil generally, one of the last countries in western america to have a monarchy that was departed in 1889. but if you go back that far and see the sequence of scandals they have grappled with, it's a natural outgrowth of how the government was set up over not just decades, but centuries now. >> i think when he was ousted, it brought a lot of hope that the carwash scandal

oliver: all of that ahead on "bloomberg businessweek." ♪ oliver: we are here with bloomberg businessweekditor-in-chief megan murphy, let's start by talking about the opening remarks section. this examines the philosophy behind to some of the biggest companies we know, in particular, facebook and google and what really their priority or mission is. megan: this piece, we strive to be controversial and this piece is provocative in the sense that they've talked about being that only instrumental in the way you conduct yourself online and your everyday tasks, but also reinforces for good in the long term evolution of humanity. what ashlee vance, who has written this piece really talks about is can you make that a legitimate claim when you have become the biggest single driving of advertising dollars and trying to get people to click on ads known to humanity. oliver: the thing interesting about this is is not necessarily new for a company to try to have some sort of philanthropic mission. right? megan: our own company has a philanthropic mission. oliver: it's very different because of facebook

this is "bloomberg businessweek." ♪ carol: welcome back to "bloomberg businessweek." carol massar. oliver: i'm oliver renick. record numbers of chinese graduates are having a hard time finding the job they want. >> we were looking to bring to life this great transition that's been taking place in china for more than one administration now. the goal has been to shift the economy away from export led growth to an economy that howard more my domestic demand, and therefore, more insulated from international shocks. we looked at the service sector, which is now 43% of the economy in china. it's growing, like eight points from 2012. some of these policies are working. it still has a long way to go, because in developed economies, services are between 70% and 80% unemployment. oliver: that is the sign of an economy in a country that is transitioning and moving from the sort of smokestack type jobs and industrial jobs to these services roles. what you point out in the story is that there's a bit of a hiccup now happening because the services jobs are not necessarily the ones

carol: welcome to "bloomberg businessweek." in this week's issue, a question being asked from wall street to main street. oliver: if america were a company, would you keep its ceo? carol: that's next on "bloomberg businessweek." ♪ oliver: we are joined by bloomberg news editor-in-chief john micklethwait. john, in your opening remarks section of this week's "is this week" you essentially hold up donald trump his own meter stick, by his own standards for what he promised. tell us about how you went about taking about this. joan: -- john: i think it's probably the fairest way to judge him, and that he said it's the way he wanted to be judged. he sold himself as being a businessman who would run the government more efficiently, and he would do better negotiation. he rubbished barack obama, hillary clinton and said he was better than this. he said he could run things very efficiently. i thought it was a nice conceit to sit and look and say, he was the ceo, and if you were the board examining how he had run this company of america, h

this is "bloomberg businessweek." ♪ ♪ oliver: welcome back to "bloomberg businessweek."an also catch us on the channel sirius xm 10 119. in the etc. section, indoor skydiving is catching on in popularity. we spoke with the entrepreneurial daredevil behind the trend. >> so i got to fly with two of the best coaches in the world, these two brothers from utah. they just did a brief kind of intro, then put on a flight suit and helmet for protection for muffles sound, and you just come in through a doorway, a cylindrical glass tunnel 14 feet in diameter, 45 feet tall, and you lean into it and it picks you up and you feel a lot of wind, so actually after doing this for 10 minutes, the next day i was more sore than i had been in a long time because you relax, but when you are learning how to do it, you tense up and feel like you have to fight the wind a little bit. oliver: it is your first time flying. >> first time flying. really coolhis is a activity, fun thing, but also a big business. that is why you are writing about it this week. you are profiling a pioneer in terms of bri

this is "bloomberg businessweek." ♪ ♪ >> welcome back to "bloomberg businessweek."e politics and policies session, lawmakers in washington has started drawing comparison between the trump and nixon white houses. oliver: inevitably there are rumbling of the word impeachment throughout capitol hill. we talked to reporter paul barrett about what that would mean. paul: impeachment is a fancy word for accusing the president of high crimes or misdemeanors. as is put in the constitution. carol: not actual charges. paul: right. that's what -- the house of representatives impeaches a president, equivalent to indicting the president, and he -- then the case goes over to the senate, where there is a try -- there is a trial. the senate can acquit or convict. in the house you need only a simple majority to impeach. in the senate you need a 2/3 majority in order to remove the president. carol: here we are in a republican-controlled congress, is there no chance we could see president trump impeached? paul: i think it is fair to say it will be a real long shot with the current alig

this is bloomberg businessweek. ♪ ♪ tover: welcome back bloomberg businessweek.the global economic section, a growing number of middle-class that is willing citizens are fleeintohe u.s., specifically miami. we talked to reporter margaret newkirk. >> you have a crisis that is getting worse and worse in venezuela. the economic level, i think 5100 boulevards is one dollar. people with good salaries are now earning $50 per month. food, medicine, everything is in short supply. they were coming with very little money. that is different from earlier generations of venezuelans that first started coming here after chavez took power. oliver: for a long time, venezuela was a place where people came to. after the rule of chavez, people -- it is a different picture. do they think there is hope or there a life to create here? >> they miss venezuela, but most the people we talked to do not want to return. they are making a life here. they are applying for political asylum. most of them probably will not get it. that would mean deportations possibly in two years or three years.

>> welcome to bloomberg businessweek. in this week's issue, we will talk about cyprus, a hotbed russian laundering. not just money but people, as well. 2017 is shaping up to be the biggest year yet for the u.s. harrowing -- heroin industry. all of that head on bloomberg's this week. -- businessweek. ♪ we here with editor-in-chief meghan markle. i want to do something different this week and talk about the cover story. this is a sad but important story in which you guys look in a lot of stuff. tell us abouwh happened in kansas and why it is such an important event to put in perspective right now. >> we are proud of the story and the journalism at the heart of it and reporting. we have gone back to a community in kansas where to indian born engineers who worked for a company called garman were shot, one of them was killed, one was shot in the late in -- in the leg in february this year by men who yelled, get out of my country. >> what happened that night in the bar? >> they were just drinking at the bar, what they do. they

. >> it's all straight ahead in a special "bloomberg businessweek debrief." ♪ john: prime minister trudeaulcome back to bloomberg. [speaking french] john: that, you will be relieved to hear, is the last french you will get from me. can we begin with trade? the last time we spoke, you had barack obama in the white house, nafta was a thing of beauty. you were partners. you still say you are extremely pro-free trade and canada relies on this a great deal. on tuesday, donald trump went to wisconsin and promised he would protect the dairy farmers against unfair trade and cited canada in particular. he also said for good measure, "we're going to get rid of nafta once and for all." i think this is your first chance to give your reaction to this constructive dialogue. [laughter] john: would you like to take it away? p.m. trudeau: one of the fundamental things that canada knows, canadians know is trade can be a fundamental driver of economic growth. one of the challenges we have seen in the rise of populist or nationalist politics around the world over the past year is a reflection that trade has n

great to talk to about it, megan murphy, editor of "bloomberg businessweek."ew issue is available at newsstands, online, and on mobile devices. scarlet: let's get you to the bloomberg business flash, a look at some of the biggest business stories. wells fargo is doubling cost-cutting from $2 billion to $4 billion. the deadline was extended until the end of 2019. ceo tim sloan has pushed to rebuild shareholder and customer trust. last year's fraudulent investigation cost of the firm $445 million in fines. bombarded eight chairm -- chairman iss a member of the founding family. suffered auber setback in its fight to be regulated as a traditional taxi service. and adviser to the european union has rejected the argument that uber is nothing more than an act. the opinion is nonbinding, but it gives an indication that uber might not be able to shake off national research and's. that is you-- national restrictions. >> macy's prices, plunging for the most in over five years. the department store, falling far more than expected. we will look at a drag on the sector. thi

all that ahead on bloomberg businessweek. ♪ >> we are here with bloomberg businessweek editor-in-chief's start with the opening remarks. you do a great job summarizing a complex edition but it keeps on going deeper and that's the political corruption that exists

all that ahead on bloomberg businessweek. ♪ >> we are here with bloomberg businessweek editor-in-chief

oliver: all of that ahead on "bloomberg businessweek." ♪

. ♪ carol: welcome to "bloomberg businessweek."issue, a question being asked from wall street to main street. oliver: if america were a company, would you keep its ceo? carol: that's next on "bloomberg businessweek." ♪ oliver: we are joined by bloomberg news editor-in-chief john micklethwait. john, in your opening remarks section of this week's "is this week" you essentially hold up donald trump his own meter stick, by his own standards for what he promised. tell us about how you went about taking about this.

. ♪ >> welcome to bloomberg businessweek.s issue, we will talk about cyprus, a hotbed russian laundering. not just money but people, as well. 2017 is shaping up to be the biggest year yet for the u.s. harrowing -- heroin industry. all of that head on bloomberg's this week. -- businessweek. ♪ we here with editor-in-chief meghan markle. i want to do something

all that ahead on bloomberg businessweek. ♪ >> we are here with bloomberg businessweek editor-in-chieft's start with the opening remarks. you do a great job summarizing a complex

i want to bring in "bloomberg businessweek"'s editor-in-chief megan murphy. want to talk about the deep crisis, a word you do not want to throw around lately. what is your sense of the magnitude of what has happened over the last 24 hours. megan: it's amazing to think takenny of these things would be almost impossible for a white house to get traction, to get back to regroup. together, we are dealing with a deepening crisis, even republicans saying publicly and privately that the white house is in a spirathat they cannot seem to get out of, much of it of their own making, much of it also boasted by the way he has comey,, obviously, james roping in other people, really damaging the fundamental credibility of the communications coming out of their, but it is a white house that is rudderless and one that will not be able to get beyond this until more information a share, more transparency is shared, or they can have any sort of positive news event to disrupt the cycle. david: what are we hearing from the white house about reports of the memo? chris: that trump p

. ♪ carol: welcome to "bloomberg businessweek." i'm carol massar. oliver: i'm oliver renick.age for a future. and why recalls drag economy, that's a fun story. oliver: all of that ahead on "bloomberg businessweek." ♪ oliver: we are here with megan murphy, let's start by talking about the opening remarks section.

. ♪ carol: welcome to "bloomberg businessweek."s issue, a question being asked from wall street to main street. oliver: ifmerica -- america were a company, would you keep its ceo? "bloomberg's next on businessweek." ♪ oliver: we are joined by bloomberg news editor-in-chief john micklethwait. you essentially hold up donald trump his own meter stick, by his own standards for what he promised. tell us about how you went about

megan: a conversation with robert kraft cinup on this week's "bloomberg businessweek debrief." ♪ roberti love business. and growing up in brookline, massachusetts, i always dreamt about going to harvard business school. we came from a family of limited financial means, so i would go over starting in high school i would talk to the dean of the school and see what i had to do to get admitted right out of college. 90 what i was passionate about, so i try to go on a path to do that. you know, any business we are in, we try to stress quality, and how do we differentiate from the marketplace. and to do that, you have to try toee things that other people don't see, and take risks that other people are not willing to do. megan: let's talk about one story i heard about you, that is before you bought the patriots in 1994, you had been a season ticket hdefor 23 years. since 1971. the first time you bought the season tickets, it was $1000. and your wife, when you came home and told her you had spent $1000 on season tickets for the patriots, that she was not too happy about spending that money. robe

megan: up next on this bloomberg businessweek debrief robert , kraft sheds light on what he has learnedut president donald trump over 25 years of friendship. robert: he does or says things that sometimes -- he doesn't mean everything he says, but i am privileged to know that. ♪ ♪ megan: let's talk about another friend who is in the news quite a bit these days, the president, donald trump. you have known him for a long time. tell us how that friendship has developed over the years. robert: i have known the president for over 25 years. i never did any business, it was just a social relationship. the only bad deal i've had my whole life is when my wife, bless her memory, died of ovarian cancer, over 13 or 14 months. he flew up to the funeral with melania. they came to my home and he called me once a week for a year and invited me to things. that was the darkest period of my life. and i'm a pretty strong person, but i was -- my kids thought i was going to die. there were five or six people who were great to me and he was one of them. loyalty and friendship trumps politics for me. if i have

carol: that's next on "bloomberg businessweek." ♪ oliver: we are joined by bloombws

i am writing this in bloomberg businessweek.his is a political document more than an actual plan of action. trump is trying to send a signal to the freedom caucus, the right wing of the republican already, he means business. he can out reagan reagan. he believes in their cause. i don't think he would actually even want this budget to be passed as it would have exactly the effects you are talking about. it would not be good for his own vboters, it would hurt congress and hurt him if he ever tries to run for reelection. out-reagan reagan. great line. we heard from mitch mcconnell -- what is going to be the ultimate version of the bill that will end of the president's desk? >> it will be completely different. basically rejected everything with the 2017 budget, in terms of increases and decreases, and came up with their own plan. we should expect the same thing again. this is not really a budget, this is a trump political rally on ipc paper. -- on a piece of paper. it is designed to rally the troops. this storyave seen before. i'm c

let's bring in the editor of bloomberg businessweek.is through the lens of business, the president wants to be seen as the ceo rather than president. >> that's the pitch that he would run the country like he ran a successful business empire. what this goes into is if you use that as your barometer and you apply it the way you would to a ceo, he has not done a great job on stacking up on the fundamentals whether it's building a competent team or keeping a firm grip on to a discipliner policy agenda. things you expect a ceo to do, he has not been successful at. david: you're going for the argument and it's hard to make a direct comparison. a country is different than a company. >> it works well when we look at the actual accomplishments. have to remember, take away some othe what has happened with this cataclysmic week and look at the basic rudiments of government. he hasgest initiatives wanted to push forward, health care reform, many would say that is akin to a ceo take on a project that was set way too incoming ceo. it's inherited syst