"bloomberg businessweek." i'm carol massar. oliver: i'm oliver renick. carol: this week, the current state of the workforce and what it might look like five to 10 years from now. oliver: how job advancement looks a lot different in asia. carol: the real reason the gender wage gap persists. oliver: all that and more on "bloomberg businessweek." ♪ carol: we're here with the editor-in-chief of "bloomberg businessweek." i love this issue. it is all about the jobs market. how did you guys approach it? megan: we wanted to pick jobs because it is so much the center of what we talked about on a political basis every day, but it is such a nuanced argument and i feel that a lot of bloomberg feels that so much of the nuance has been stripped away from this argument. we can all talk about bringing jobs back and manufacturing and automation and uber, and how jobs are going away, but we don't talk about the real fundamental issue paralyzing parts of our economy. how do we train the people for the jobs of tomorrow, not the j

carol: this is "bloomberg businessweek." ♪ oliver: welcome to "bloomberg businessweek."ver renick. carol: i'm carol massar. you can find us online at bloomberg.com. in the technology section, tesla's new giga factory is having a profound impact on its hometown. oliver: that is reno, nevada. >> reno, nevada is in the middle of a huge boom as it's been building up a lot of new workforce type of projects since the downturn. reno was a huge foreclosure capital, it was huge unemployment, almost 14% unemployment at the bottom of the market and they started recruiting all of these various new job providers, high-tech manufacturing and the biggest one is tesla, which opened the giga factory to build batteries for the electric cars and the other power sources systems that they have. all of a sudden in downtown reno, a place that was pretty strung out, it was kind of fading, the poor man's vegas, now you have poor over coffee shops and little food halls with different vendors, i have delicious bourbon chocolate truffles. it is that it has a lot of energy. unemployment is below 4%,

this is "bloomberg businessweek." ♪ oliver: welcome back to "bloomberg businessweek."ver renick. welcome back. you can catch us on the radio on sirius xm, and on the radio in new york, boston, washington, d.c. and the bay area. also, in london and asia on the bloomberg radio app. in the politics section concern , is growing about russian hacking in germany's election this fall. stefan: in germany, we have seen a range of hacking attempts and successful hacks over the past two years. it started in 2015 when the german parliament was hacked and criminals actually stole 16 gigabytes worth of data. that is about 1.5 million emails. lots of hacking going on and the german government is concerned that in the run-up to the election, increased hacking will go on and hackers will try to influence the german elections that way. carol: talk about the 16 gigabytes. 1.5 million emails. what's interesting is you put in , your story, those hackers were roaming around within the german parliament for about a week. stefan: that is correct. i will walk you through how this happened. pic

this is "bloomberg businessweek." ♪ oliver: welcome back to "bloomberg businessweek."sect the rain of the uber ceo. phil falcone is betting on what's left of his reputation on vietnamese las vegas. western union, what is good for them may not be popular in washington. that is ahead on "bloomberg businessweek." ♪ oliver: we are back with megan murphy to talk about more must reads. let's go to the business section. you guys assess data about brexit. megan: this is something you will see a lot more. we are on the fallout from the disastrous election in britain where instead of achieving a majority to force through a hard brexit, it is unlikely to happen now. what this graphic dissects is where a hard brexit or the inability to negotiate between britain and the rest of the eu would really hurt. it would hurt workers that voted for brexit. i'm a british citizen, we are talking about the northeast and sunderland, the midlands in birmingham, places where international companies like nestle and jaguar have moved in and done a lot of the resurgence britain needs to maintain. th

on ahead on "bloomberg businessweek." carol: we are here with the editor-in-chief of "bloomberg businessweek." garrett is a legendary financier and the head of colony capital that he is also known as being one of president trump's most prominent advisors. he was consistently during the campaign one of his most public circuit in making when i would call the economic case for -- what was and the a great opportunity last night was it was the first opportunity to take his temperature of what he thinks he does best of what he thinks he has done as president. he views of the trump presidency at the disruptive in the way that uber or amazon is to a corporate world. >> that was the first time i heard that phrase. he was referring to how he conducted social media strategy as well. we talked about this use of tweets. there are many of us who cover the campaign who expected him to stop that. we've seen exactly the opposite. in the last few weeks we have had tweets about the terror attacks in london and we seen his tweets about saudi

>> welcome to bloomberg businessweek. in this week issue, by the irs is demanding to billion dollars and businessweek's interview with john williams. finally, we will tell you the song of the summer and justin bieber. all that had, on bloomberg businessweek. >> we're here with "bloomberg businessweek" editor in chief. let's talk in the politics section. we heard promises along the campaign trail. that donald trump was not going to touch social security. he said he's got a big heart. turns out that there's going to be a great deal of cuts. roughly about $70 billion. and this is going to hit some of the people that supported him the most. >> yeah. this is a perfect issue to look at what he actually said on the campaign trail and what he promised and what's actually happening in practice. we should be clear that the proposed cuts to social security and in this case disability benefits are part of a budget which is unlikely to proceed in the shape it is now. why it's so interesting is you hear a lot of rhetoric about disabili

carol: welcome to "bloomberg businessweek." in this week's issue, twitter advice for president trump. oliver: and we go inside a brazilian construction giant. carol: and how buzzfeed plans to be king of online video. oliver: all that ahead on "bloomberg businessweek." ♪ carol: we are here with the editor-in-chief of "bloomberg businessweek." >> comverge is the head of colony capital, that he also has become very well known for being one of donald trump's closest economic advisers. he is one of the first people to come forward to become one of his most prominent backers. consistently during the campaign, one of his most public circuits was making the economic and personal case for donald trump beard saying he will be a different kind of president to get things done. it was a great opportunity last night, given what we have seen in the last six months, to take his temperature. oliver: he ultimately said he would not give him a grade yet. he said it is asking before the semester is over. megan: he asked for a sabbatical for giving

this is "bloomberg businessweek." ♪ carol: welcome back to "bloomberg businessweek."ver: the coordinated effort by saudi arabia, bahrain, egypt, and the uae to isolate qatar shocked markets this week. carol: and it ended up being the handiwork of two powerful arab leaders. reporter: we got a blockade, the cutting of diplomatic ties to qatar, by a handful of its arab-persian gulf neighbors. this is a relationship that has been fraught for years. qatar is a very small but wealthy country. 2 million people there, but they have the highest per capita wealth in the world. they are sitting on the cheapest, most abundant reserves of natural gas in the world. they are the biggest exporter of liquefied natural gas. they did not start producing and exporting until the mid-1990's, and until then, they were basically a vassal state of the saudis. but over the last two decades, they have established enough wealth and autonomy to start walking on their own, really, and developing an independent foreign-policy strategy that is not something the saudis and the egyptians are fans of.

♪ oliver: welcome to "bloomberg businessweek."'m coming to you from the magazine's headquarters in new york. why the irs is demanding $2 billion from caterpillar. and the interview with the san francisco fed president. john williams. finally, what went into making the song of the summer. it does mean we will talk about justin bieber. all that ahead on "bloomberg businessweek." ♪ oliver: we are here with "bloomberg businessweek" editor-in-chief megan murphy. megan, let's talk about what's in the politics section. we heard donald trump was not going to touch social security. he said he's got a big heart. turns out roughly $70 billion in cuts. this is going to hurt some of the people that supported him. megan: this is a perfect issue to look at what he said on the campaign trail and promised versus what is actually happening. we should be clear this is part of a budget that is unlikely to proceed in the nation that it is right now. you hear a lot of rhetoric about disability insurance and disability benefits, being something that is

oliver: welcome to "bloomberg businessweek." in this week's issue, apple ceo tim cook talks about doing business with president trump while western union finds itself in the crosshairs of the white house. then, phil falcone is making new bet on vietnam. all that ahead on "bloomberg businessweek." ♪ oliver: we are here with editor-in-chief megan murphy. this is an exciting week. new magazine, new website app. megan: i am excited. it has been a great week, and these past months behind the scenes, we have been doing a complete redesign of the magazine online, and we have totally overhauled the app. also we are putting us at the forefront of our events here at bloomberg. we are thrilled with the results. i think the look will feel familiar to people, but as we go through process we have been making sure we are available wherever our readers are. but also just making it more simple, cleaner, easier to read. we really want the journalism to shine through and stand out. i'm thrilled with the results. oliver: i like having it on so many

all that ahead on "bloomberg businessweek." we are here with megan murphy. let's talk in the politics sector. heard donald trump was not going to touch social security. turns out there are going to be a great deal of cuts. this is going to hurt some of the people that supported him. is a perfect issue to look at what he said on the campaign trail and promised versus what is actually happening. is partd be clear this of a budget that is unlikely to perceive. you hear a lot of rhetoric about disability insurance and disability benefits, being something that is subject to fraud. when you place it out, looking it out, look at this, a lot of the areas that have the highest proportion of disability recipients is counties trump carry. that is because so many people who claim disability benefits are workers forced out of manual labor type jobs. coal, tobacco, textiles. those are very taxing jobs. people have used disability benefits as a bridge to get affordable health care. of the 20 counties with the highest share of adults benefits,disability 17 voted for trump.

just as the business landscape evolved, so as bloomberg's businessweek.y relaunch the magazine with a whole new feel and editorial direction. this week's features tim cook. we're joined by megan murphy. you flew in and sat down with him right after we did on television. i am curious what your impressions were of mr. cook? >> as you know, we did the interviews almost back to back. some of the things you touched on, the big surprise at the actual conference was in introducing the homepod, what everyone thought would be a rival to the echo and moving into that space aggressively. but he was focused on the music capability as opposed to the internet of things and integrating into your home. i thought it was quite interesting and humorous how focused he was on saying the kids will be rocking, it will be banging. very passionate about just owning that specific segment. it ties in with so many things about apple. being the focused on first and so many markets, but we are focused on being the best. emily: he also talked about politics. and i felt fairly sincerely

just as the business landscape has evolved, so have bloomberg businessweek.nched itsg magazine with a whole new look, feel, and editorial direction. this week's cover story features apple ceo tim cook, and we are joined this week by megan murphy. you spoke to cook and sat down with him right after we did on television. i'm curious what your impressions were of mr. cook. megan: as you know, we did the interviews back to back, and i think we asked him about some of the things you touched on, like introducing the home pod at have conference, but focused tim cook was on the music capability of that new speaker as opposed to, say, it's internet speed, and ability to infiltrate your home, and i thought it was quite interesting and quite humorous how focused he was on saying that the kids were going to be rocking, it was going to be banging. he was very passionate about owning that specific segment. it ties into so many things about apple, and he said as well, we are not focused on the first sensitivity market, but we are focused on being the best. emily: he also ta

all that had, on bloomberg businessweek. ♪ >> we're here with "bloomberg businessweek" editor in chiefcs section. we heard promises along the campaign trail. that donald trump was not going to touch social security. he said he's got a big heart. turns out that there's going to

businessweek issue, twitter advice for president trump. oliver: and we go inside a brazilian construction giant. carol: and how buzzfeed plans to be king of online video. oliver: all that head on "bloomberg businessweek." ♪ we are here with the editor-in-chief of "bloomberg businessweek." >>

bloomberg businessweek," megan murray.m barrick. megan: tom barrick is a legendary financier,ea

all that ahead on "bloomberg businessweek." ♪ oliver: we are here with "bloomberg businessweek" editor-in-chiefan, let's talk about what's in the politics

on ahead on "bloomberg businessweek."e with the editor-in-chief of "bloomberg businessweek." >> tom

"bloomberg businessweek."r: i'm oliver renick. carol: this week, the current state of the workforce and what it might look like five to 10 years from now. oliver: how job advancement looks a lot different in asia. carol: the real reason the gender wage gap persists. oliver: all that and more on "bloomberg businessweek." ♪ carol: we're here with the editor-in-chief of "bloomberg businessweek." i love this issue.

bloomberg businessweek," megan murray.tom barrick. megan: tom barrick is a legendary financier, head of colony capital.

read her story, the latest issue of bloomberg businessweek, that's available on newsstands now.next, a new study on american manufacturing and factory jobs. automation makes cheap labor less crucial to producers. the study coming up from mckinsey on "bloomberg markets." this is bloomberg. ♪ >> and>> it left 80 people dead. nicholas brown steps aside. he apologized and admitted things had gone wrong dealing with the aftermath of the fire. in the u.k., consumer confidence has not been this bad since the brexit vote. those surveyed were less confident about the economy and their personal climates. the military judge overseeing army sergeant bob burkle's case endangered comrades by walking off his post and afghanistan in 2009. the judge in raleigh, north carolina, rejected a defense motion. bergdahl also faces desertion charges, punishable by up to five years. former president barack obama arrived today at his childhood nick -- childhood home. it is the last day of a 10 day leg vacation. they went white water rafting. he was greeted by the president. it is known for the botanical ga

anna: bloomberg businessweek editor.re to pick up your copy of bloomberg businessweek on friday. let's start with the headlines on the bloomberg first word news. mark: president trump has a plan to help with aging fleets of u.s. nuclear reactors. estimated to be losing $3 billion a year. it is the culmination of the white house's energy week. the president to set to announce a comprehensive review of nuclear regulations. stopping short of the federal interventions advocate say are needed to revitalize the industry. the president will highlight u.s. oil and natural gas x boards. they will carry the speech live. the commissioner for high refugees hopes that the u.s. an "generous report." this follows the new travel ban which takes effect at 8 p.m. new york time tonight. theequires new criteria for set applicants from six mostly muslim nations. the u.s.an says if except sivan 50,000 refugees a year, it would remain the world leader in resettlement. an iraqi army commander says his troops have capture the landmark mosque in

. ♪ oliver: welcome to bloomberg businessweek.sue, apple ceo tim cook talks about doing business with president trump while western union finds itself in the crosshairs of the white house. then, phil falcone making a new bed on vietnam. -- new bet on vietnam. all that ahead on "bloomberg businessweek." ♪ oliver: we are here with

all that ahead on "bloomberg businessweek." we are here with megan murphy. politics sector. we

. ♪ oliver: welcome to "bloomberg businessweek." i'm oliver renick.zine's headquarters in new york. in this week's issue, apple ceo tim cook talks about doing business with president trump while western union finds itself in the crosshairs of the white house. then, fallen hedge funder phil falcone is making new bet on vietnam. all that ahead on "bloomberg businessweek." ♪ oliver: we are here with

. ♪ oliver: welcome to "bloomberg businessweek." from the magazine's headquarters in new york. why the irs is demanding $2 billion from caterpillar. and the interview with the san francisco fed president. john williams. finally, what went into making the song of the summer. it does mean we will talk about justin bieber. all that ahead on "bloomberg businessweek." ♪ oliver: we are here with megan murphy. let's talk in the politics sector. we heard donald trump was not going to touch social security.

oliver: all that and more on "bloomberg businessweek." ♪

oliver: all that and more on "bloomberg businessweek." ♪ carol: we'

. ♪ ♪ oliver: welcome to "bloomberg businessweek."k's issue, apple ceo tim cook talks about doing business with president trump while western union finds itself in the crosshairs of the white house. then, phil falcone is making new bet on vietnam. all that ahead on "bloomberg businessweek." ♪ oliver: we are here with editor-in-chief megan murphy.

megan: a conversation with tom barrack on this bloomberg businessweek debriefed.ust cut to the chase from your perspective. is there a method to the madness we are seeing in washington right now? tom: no. [laughter] >> you can all go home now. tom: is there a method? first of all, the first year of any administration -- if you look what happened to president reagan, president clinton, president obama, just finding the electrical outlets are difficult. this president coming from business -- the campaign, transition, governing. governing is complicated. all of you have a p&l and a balance sheet. in my doing an ok job? we have metrics. washington, the mantra is lay claim to victory after it is won. great politicians say i'm not setting the agenda. the agenda is established by 660,000 bureaucrats. that calibration of that agenda will find its own level. if you want to be a great politician, claim victory after it's already won. no one knows who is responsible and not responsible. this president who, by the way, is not in the best situation he has ever had. if you look

megan: a conversation with tom barrack on this bloomberg businessweek debriefed.ust cut to the chase from your perspective. is there a method to the madness we are seeing in washington right now? tom: no. [laughter] >> you can all go home now. tom: is there a method? first of all, the first year of any administration -- if you look what happened to president reagan, president clinton, president obama, just finding the electrical outlets are difficult. this president coming from business -- the campaign, transition, governing. governing is complicated. all of you have a p&l and a balance sheet. in my doing an ok job? we have metrics. washington, the mantra is lay claim to victory after it is won. great politicians say i'm not setting the agenda. the agenda is established by 660,000 bureaucrats. that calibration of that agenda will find its own level. if you want to be a great politician, claim victory after it's already won. no one knows who is responsible and not responsible. this president who, by the way, is not in the best situation he has ever had. if you look

megan: a conversation with robert kraft coming up on this week's "bloomberg businessweek debrief." robert: i love business. and growing up in brookline, massachusetts, i always dreamt about going to harvard business school. and we came from a family of limited financial means, so i would go over starting in high school, and i would talk to the dean of the school and see what i had to do to get admitted right out of college. i knew 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 to see 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 holder for 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 abo

megan: a conversation with tom barrack on this bloomberg businessweek debriefed. just cut to the chase from your perspective. is there a method to the madness we are seeing in washington right now? tom: no. [laughter] you >> you can all go home now. a him tom: no, look. is there a method? first of all, the first year of any administration is chaos. if you look what happened to president reagan, president clinton, president obama, just finding the electrical outlets are difficult. this president coming from business -- the campaign, transition, governing. governing is complicated. all of you have a p&l and a balance sheet. am i doing an ok job? because we have metrics. washington, the mantra is lay claim to victory after it is won. great politicians say i'm not setting the agenda. the agenda is established by 660,000 bureaucrats. 535 congressmen. that calibration of that agenda will find its own level. if you want to be a great politician, claim victory after it's already won. no one really knows who is responsible and not responsible. this president who, by the wa

megan: that is all coming up in this special bloomberg businessweek debriefed: a conversation with robert de niro and jane rosenthal. i began by asking him how you approach the story of bernie madoff, who he plays in the upcoming hbo film he produced with rosenthal. mr. de niro: i always felt very strongly that the kids didn't know anything. i don't think his wife did either, really. he protected them. i don't see anything that says otherwise. but it was an interesting character. it has been so long ago. i did it almost a year and a half ago. megan: a master manipulator. mr. de niro: yeah, it's the classic con where everybody comes to him and they want to be part of this club. that whole thing evolved through his personality, his way of manipulating people that he became, you know, it's classic. it's a classic sort of con situation that people fell for. megan: jane, it wasn't the easiest movie to get made. i think you optioned the book six years ago. a little bit about that process. i heard you say had you done it right away, the film would've been different in terms of focusing more on t

then bloomberg businessweek discusses herpes on the gender wage gap in the u.s. and how companies are working to close it. be sure to watch c-span's "washington journal" live at 7:00 eastern on saturday morning. join the discussion. >> for the next hour and 15 minute, a book tv exclusive. our cities tour visits eugene, oregon. to learn more about its unique history and literary life. for six years now we've traveled to u.s. cities, bringing the book scene to our viewers. you can watch more of our visits at cspan.org/citiestour. >> the oregon rare books initiative was begun three or four years ago. by a couple of colleagues here at oregon. its aim is to increase the use of the rare book and special collections archives among faculty and students and in the classroom here at the university of oregon. the initiative was founded in 2013. colleagues, including myself, have been upstairs in the vault where these rare books are stored, along with librarians, including bruce tabb wlorks have helped us to find --, who have helped us to find books we did not know we owned.

i spoke to max chafkin of bloomberg "businessweek," derek thompson of "the atlantic" and mike isaac of." >> this was pretty stunning in the sense travis kalanick, the c.e.o., had full control of the company in almost every way. he was c.e.o. he had voting control. and he had board control. so he had to be the one to decide to step away, and it's something that was pretty much unthinkable a few months ago. >> glor: derek it will be led by someone, least for now, other than travis kalanick. but travis kalanick was and is uber. >> exactly right. travis is as responsible for the bottom line, rest new, as the culture. in many ways the revenue came out of culture, this incredible relentless focus on improving the product, making sure it was as good as possible, growing, growing, growing, and allowing some of the top reformers in the country get away with that with what we now know was heinous behavior. >> glor: the company is still losing money. >> they have big battles in many sphaeps they have been pouring money from venture capitalists for years and years subsidizing every ride we take wh

then bloomberg businessweek discusses herpes on the gender wage gap in the u.s. and how companies are working to close it. be sure to watch c-span's "washington journal" live at 7:00 eastern on saturday morning. join the discussion. >> for the next hour and 15 minute, a book tv exclusive. our cities tour visits eugene, oregon. to learn more about its unique history and literary life. for six years now we've traveled to u.s. cities, bringing the book scene to our viewers. you can watch more of our visits at cspan.org/citiestour.

tom: a shout out to vince gault of bloomberg businessweek.he week, this is cell phone bill deflation in america. for those of you on radio, it is real simple. your cell phone bill costs half as much as it did in 1997, and what is important is everywhere along the way companies make decisions because of competition . those little blue circles, and down we go, and a recent leg down in cell phone deflation which chair mentioned in the press conference last week, this is the noisy inflation. this is the societal effects of something like cell phones on a central-bank. francine: i love the fact that you are looking at cell phone deflation. i want to see your cell phone bills. tom: it is the equivalent of a home mortgage. , let me: italian gdp look at european companies. this is how european shares actually did compared to u.s. ones but a little bit differently. when i tracked with the help of hillary clerk, the geordie of those countries that do business -- the of those countries that do business in that region are doing better than those who are