this is "bloomberg businessweek." ♪ jason: welcome back to "bloomberg businessweek."ol: you can also listen to us on radio on sirius xm channel 119. 106.1 in boston. 99.1 fm and washington, d.c. inon: and in london and asia on the bloomberg radio plus. in the technology section, artificial intelligence clearly getting smarter with facial recognition software still getting confused by darker skin tones. carol: there are problems out there. you have companies that include microsoft working hard to overhaul this problem. >> law enforcement has actually been using facial recognition technology for years in various applications, i think more so than people realize. the thing that really kind of highlighting this application recently was the aclu did a bunch of public records requests and found out that amazon was marketing its facial recognition product, called recognition, to law enforcement agencies. >> there aren't guidelines out there to make sure it is being very careful? >> law enforcement has been eager to adopt anything they think will give them some sort of edge.

jason: this is "bloomberg businessweek." taylor: welcome back to "bloomberg businessweek." i am taylor riggs. jason: i am jason kelly. you can find us online at businessweek.com. taylor: and on our mobile app. opening up the remarks section, it was so great. we got to speak with mohamed el-erian, one of the most influential voices in global economics. jason: we asked what advice he would give policymakers around the world. ere is what he had to say. mohamed: we have had years of distorted markets. we have had massive liquidity come into the marketplace, it has felt really good. look at last year, over 20% returns in global markets, equity markets, we even made money on government bonds and all of that was very low volatility. that is not supposed to happen, but it did because we have exceptional circumstances. now, we are slowly exiting the exceptional circumstances and it will take some time for markets to realign themselves to more normal patterns. jason: one of the phrases you used near the top of this piece, and i'm going to quote you. spread that has too many years of

♪ >> welcome to bloomberg businessweek. am carol. >> and jason. >> we have a lot of global stories. >> we start in israel. about the height to his business. this is a familiar story. questionsot of the are about effectiveness. president trump and his immigration policy. this has been an important part of his platform. there is not been data to support what they are doing. jason: interesting bloomberg insights. one of our team investigate reporters days into that. we go into north korea to dig into the summit, is implications and not just politically. carol: we look at the business story. we caught up with christina. we are short on particulars about how denuclearization will take place. it was a time for people to look at north korea, look at the positive potential and look at the massive risk. that is what we did. we talked to a lot of people about how they saw the future. jason: do you have a good assessment of what the potential -- the market potential is? >> there have been studies done. havering companies operations. t

carol:his "bloomberg businessweek." ♪ ♪ jason: welcome back to "bloomberg businessweek."n kelly. carol: i am carol massar. you can listen to us on radio on sirius xm channel 119, and on am 1130 in new york, 106.1 in boston, 99.1 fm in washington, d.c. and am 960 in the bay area. jason: in london on dab mux 3 and in asia on the bloomberg radio plus app. we turn to the politics section and a cornerstone of president's immigration policy is the idea that so many undocumented folks are criminals. carol: exactly, and we aren't sure the data is out there to support that. jason: it is getting even harder to figure out what that data says. carol: we did some digging through reporting. >> they were hammering home the point that so-called sanctuary cities like new york don't honor these notices called detainers to hold onto people they have in custody already so ice can pick them up. they are basically saying they ignored 440 of these detainers from us and release these people. some of whom are criminals that get picked up right away again. they are endangering their own communitie

this is "bloomberg businessweek." ♪ ♪ carol: welcome back to "bloomberg businessweek."on: you can also find us online at businessweek.com. jason: and on normal -- carol: and on our mobile app. we have to keep an i on oil prices. confusing, all of the movement, who is winning, who is losing, what is at stake, and where. carol: we got more from our editor. >> the imf is forecasting global growth to pick up to 3.9%. that is one of the factors driving demand, in fact. importantly, the global economy is not as energy intensive as it was in 2008, which was the first time where we get $100 oil. that is a big difference. industry in the developing world, less energy intensive industries, more energy choices in the last decade. more solar, more biofuels, or renewables. carol: let's talk about china. they are the world's largest importer of oil. this can potentially hit them harder than others. >> it will certainly have an effect on inflation. that is the first place we usually see effects. already forecasters have anticipated the inflation in china was going to pick up to someth

carol: this is "bloomberg businessweek." ♪ ♪ carol: welcome back to "bloomberg businessweek." carol massar. jason: and i'm jason kelly. you can also find us online at businessweek.com. carol: and on our mobile app. in the economic section, we have to keep an eye on oil. prices definitely up, and up from a year ago. jason: right. it is confusing. all of the movement, who is winning, who is losing, what is at stake and where? carol: we got more from our editor. >> the imf is forecasting global growth picking up to 3.9%. so, that is a good thing. that is one of the factors driving demand, in fact. and also importantly though, the global economy is not as energy-intensive as it was in 2008, which was the first time we got $100 oil. that is a big difference. industry in the developing world, less energy intensive industries, more energy choices because over the last decade at least in the developing world and china, more solar, more biofuels, or renewables. carol: let's talk about china. they are the world largest importer of oil. >> yeah. carol: so, this can potentially hit them h

carol: this is bloomberg businessweek. ♪ ♪ bloombergcome back to businessweek.e politics section, we take a look at russia's a defense system. it's never been tested in combat. jason: it has never been fired in any sort of how but has provoked skirmishes from eastern europe to the indian ocean. henry: my story focuses on the 0, a missilee s40 defense system that is increasingly popular in the world. russia is in talks with a number of countries that would be seen esther traditional u.s. markets, saudi arabia, qatar, and it has signed an agreement with turkey. this is a major concern for the united states. that's why i am focusing specifically on this weapon. obviously, there's wider competition in the arms market. but this weapon has a geopolitical dimension as well as a purely commercial one. jason: physically, what does the system do? what does a purchaser a country look to do with it once they haven't? henry: -- have it? henry: eight protects sooner 50 kilometers. it shoots down any incoming ballistic and cruise missiles. jason: this is associated closely for

taylor: this is "bloomberg businessweek." ♪ welcome back to "bloomberg businessweek."or riggs. jason: i am jason kelly. you can also listen to us on the radio on sirius xm channel 119 and a.m. 1130 in new york, and 106.1 in boston, and a.m. 960 in the bay area. 3ylor: in london on dab mux and in asia on the radio plus app. over in the features section, we profiled a man i had never heard about. jason: pretty far field we go to the brazilian countryside to a one-of-a-kind museum. taylor: interesting, that museum built on tax evasion and child labor. jason: we got more from our reporter. bernardo paz is a mining tycoon and a very interesting character. he is on his sixth wife, but apart from the fact that he built one of the world's largest open-air art museums in his backyard, he is unlike other very rich people in that he doesn't like to show off his wealth. he is not interested in yachts and private jets. he did build this place in the hills of southeastern brazil. it is this amazing art park and tropical garden where the installations are by all sorts of top contempo

jason: this is "bloomberg businessweek." ♪ jason: welcome back to "bloomberg businessweek."jason kelly. taylor: i am taylor riggs. you can listen to us on radio on sirius xm channel 119, and on am 1130 in new york, 106.1 in boston, 99.1 fm in washington, d.c. and am 960 in the bay area. jason: in london on dab mux 3 and in asia on the bloomberg radio plus app. we are here with editor in chief joel weber. inside the magazine, a debrief with justin trudeau. very timely. how did this happen? joel: it is our flagship interview series with the biggest names we can speak with and justin trudeau is one of them. we generated attentive news out of this. the same day we spoke with him, canada nationalized the pipeline. there is a lot of internal politics that will come of this but he framed it as a trade issue and a trade has become such a sticking point with canada in general since the u.s. and canada are trading partners above any other two countries in the world. jason: to say it is a sticking point is an understatement in the way that justin trudeau has really sharpened his langua

this is "bloomberg businessweek ." ♪ jason: welcome back to "bloomberg businessweek."m jason kelly. carol: i am carol massar. jason: banks are setting sites even more on the ultrarich. carol: and we will talk about one of our features having to do with the little pink pill. jason: it went away and now it is back. the libido pill. this is the little pink pill. carol: we've got more from cynthia. >> it is the first drug approved for female desire disorders, and it is a specific treatment where whereas viagra is for functionality, this is for desire. carol: how do you define it? >> it is a tricky concept. desireeats hypo-sexual disorder. it is six months of low or no libido and it causes the woman distress. that is a critical part of the diagnosis that is lost. this is a woman who has had sex drive and for some reason, it has gone away. the patient's i have code -- spoken to are clear on this idea they knew they had this appetite previously and it is gone. it is like sitting in front of a meal and no interest. this is a condition and is distressing for these women because

jason this is "bloomberg : businessweek." ♪ carol: welcome back to "bloomberg businessweek." am carol massar. jason: i am jason kelly. you can find us online at businessweek.com. carroll: and on our mobile app. we have remarks from editor peter coy. jason: i love this guy, because he takes us to quebec where there is a lot of controversy. president trump talked about turning it into the g8, having russia to the mix. when he left, they were talking about g6 plus one with the united states on the outside. carol: justin trudeau and some others. we have more. peter: he had agreed to sign the g7 statement. there is always a communique at the end, standing up for values of democracy and free market and so on. trump had agreed to it and then caught wind that justin trudeau, the prime minister of canada had said some slightly edgy things , saying he was going to retaliate if the u.s. put steel and aluminum tariffs on canada, he would do the same thing to the u.s. he said that they were polite, but didn't want to be pushed around. all the kind of stuff he would say. rage, and said a h

jason: this is "bloomberg businessweek." ♪ ♪ jason: welcome back to "bloomberg businessweek."elly. carol: and i'm carol massar. you can also find us on radio on sirius xm channel 119 and in new york, boston, washington, d.c., and the bay area. jason: and in london, and asia on the bloomberg radio plus app. in the business section this week, this is a brand not many people outside of china has heard of, a big kid for gm. sales have increased tenfold since 2013. carol: which is pretty dramatic rose. it is all due to an increasing middle class in china. >> we have a rapidly growing brand. they make small cars and make seven passenger npb's which is like a minivan over there. since has grown 10 x 2013. it is up to about one million units per year. that is the good news. the bad news is buick has kind of stalled out. and that is really their big brand. so has chevrolet. ourbrands that are growing cadillac on the top of the market, getting nice growth. now, that center part of the market where buick competes against brands like volkswagen another's, there is still growth there -- li

carol: this is bloomberg businessweek. ch jason: welcome back to bloomberg businessweek. i am jason kellie. carol: you can listen to us on radio. jason: and in london and asia. opening the magazine, we have remarks from the editor and chief emeritus. news, and bloomberg '80s. london back in the carol: he was there when margaret thatcher was helping to make london they financial epicenter back in the day. jason: this was the so-called bong, but his argument is tha brexit is poised to undo all of that. >> london before the big bang, which was the deregulation of very old, distinguished, and antiquated financial system, was sort of from hunger. hunger in the sense that everything was poor, high bound, lacking vitality, dark. london seemed darker. and what big bang did more than anything else was open the country to everybody in the world. that's really what it did. by opening itself to everybody in the world not only transformed the financial system, but everything in london. carol: there is something you wrote - you said a powerful expression, the big bang, a powerful expre

david: we turn now to businessweek beat, stories featured in the latest issue of bloomberg businessweekds of $1 billion to care for children separated from parents at the border, nonprofit detention centers are benefiting. crafting a turnaround. turned the focus to customers and the business has turned around with it. the legend of nintendo. has130-year-old giant turned reports of its demise into nintendo mania. alix: i am not a gamer. much so.d is very i played zelda. david: she knows all about it. alix: joining us now, the cohost of bloomberg businessweek. the business of detention. we have been talking about it in editorial meetings. the magazine did a deeper dive. reporter: incredible reporting by the bloomberg news team. this is a story that has been cited by other organizations. a gutwrenching story. the humanitarian side, we could spend hours debating. what we wanted to know, more about these centers. the government is spending close to $1 billion to house these children, 12,000 children and all. 10,000 come across the border on their own, 2000 since president trump's new policy

carol: welcome to "bloomberg businessweek." i'm carol massar. jason: and i'm jason kelly.e here at bloomberg headquarters in new york. carol: in this week's issue, general motors signing a winning strategy in china. jason: that's right. i don't think many people have heard of it outside of china. carol: exactly. jason: first, we get to a really interesting story about a deal that died.

. ♪ carol: welcome to "bloomberg businessweek.": we are at bloomberg headquarters in new york. carol: coming up, we have a very special issue for you. jason: we are going all around the world looking at things getting lifted. carol: a reporter is really following the money trail on some high-profile burglaries around the globe. jason: bees, art, whiskey, so much to cover.

. ♪ ♪ carol: welcome to "bloomberg businessweek." i am carol massar. jason: i am jason kelly.t the magazine headquarters in new york. carol: in this week's issue, a lot of global stories. jason: we start with israel and bibi netanyahu. this week, new news about his political travails tied to his business. this is a familiar story. carol: a lot of questions out

. ♪ ♪ taylor: welcome to "bloomberg businessweek." i am taylor riggs. jason: i am jason kelly.loomberg headquarters in new york. taylor: one of our favorite stories, justin trudeau. we spoke about how he is navigating negotiations with president donald trump. jason: trade on the forefront, we also go global with one of the most listened to voices on business and economics mohamed el-erian, and he tells us what to be worrie

. ♪ jason: welcome to bloomberg businessweek.kelly at bloomberg headquarters in new york. a big show for you this week. we start in london where we explore that city's future as a financial hub given the backdrop of brexit. we go to south carolina where we talk to the although ceo about the new plant there. what it means for that state's economy and for volvo's chinese owner. we start with the big story of

you can find these stories in the latest issue of bloomberg businessweek, catch commentary and analysiskend. and coming up, a pardon for the king of junk. of donaldt confidence trump pushing for a pardon from michael milk and. -- michael milken. alix: check out gtv , interact with us directly. this is bloomberg. ♪ david: those around the president urging him to pardon michael milken. a former managing director at morgan stanley called michael muller can's prosecution a period run amok. and the bond pioneer pled guilty to security tax violations. he served two years, then he founded the milken institute. quite a story. we are welcoming jason kelly to talk about this. isi will to you that this going to be one of the most read stories. you can take it to the bank. there are a lot of superlatives you can't go around michael milk and, he is one of the most important financiers in the history of wall street. you go back to the 1980's, he effectively invented a junk-bond -- david: and serious academics on his side have said he created instruction. destruction.ated x he was the king, from h

alix: joining us now is carol massar, the cohost of bloomberg businessweek. off with sweden because i think of them that they are a rich, well-off come three -- country and everyone is happy. the refugee crisis has impacted sweden in a specific way. carol: population of 10,000 people, they have had a lot of immigrants come in. this is a country where you can pay state income tax of about 60% but you get subsidized health care, pension, free education. there is a lot of benefits that come with it, but because of the immigrant inflow, that benefit system has been hurt and impacted. some of the services we are seeing, there is a great story that kicks off this story about a maternity ward being shut down . women are being told, you can drive a couple of hours to deliver your child or you have midwives learning how to deliver in a car, just in case. there has been some surveys there that show they are kind of getting tired of paying these high taxes, especially if the benefits are not there. david: given the european summit, it is part of a larger problem. carol:

. ♪ jason: welcome to bloomberg businessweek.berg headquarters in new york. a big show for you this week. we start in london where we explore that city's future as a financial hub given the backdrop of brexit. we go to south carolina where we talk to the although ceo about the new plant there. what it means for that state's economy and for volvo's chinese owner.

. ♪ ♪ carol: welcome to "bloomberg businessweek." i'm carol massar. jason: and i'm jason kelly.bloomberg headquarters in new york. carol: in this week's issue, general motors signing a winning strategy in china. jason: that's right. i don't think many people have heard of it outside of china. carol: exactly. jason: first, we get to a really interesting story about a deal that died. the art of killing the deal, you might say. a $6 billion bdeal, and a cast of characters.

joins --s, max, who who writes about tech in bloomberg businessweek. what do you make of it?: it has been quite a week. every week is pretty exciting for elon musk. yesterday the stock jumped a lot when he promised there would be additional self driving capabilities in tesla cars. today, we saw this layoff announcement. it is something tesla had telegraphed and elon musk had talked about a real organization. he also said the company was going to try to get the profitability in the third quarter, which would require some heroics, so we are seeing the other shoe dropped. people might feel good about this. business the company finally getting serious towards profitability. on the other hand, not great for employee morale to let 3000 people go. emily: elon musk tweeted, difficult but necessary tesla reorg. my email has already leaked to the media. here it is unfiltered. your point about investors is it is going to be welcome news, if it does not impact the production schedule, as he says. does this prove he is willing to make difficult decisions for the bottom line? max: it is re

taylor: welcome to "bloomberg businessweek." i am taylor riggs. jason: i am jason kelly.omberg headquarters in new york. taylor: one of our favorite stories, justin trudeau. we spoke about how he is navigating negotiations with president donald trump. jason: trade on the forefront, we also go global with one of the most listened to voices on business and

. ♪ carol: welcome to "bloomberg businessweek."t bloomberg headquarters in new york. carol coming up, we have a very : special issue for you. jason: we are going all around the world looking at things getting lifted. carol: a reporter is really following the money trail on some high-profile burglaries around the globe. jason: bees, art, whiskey, so much to cover. carol: we definitely have to start in the u.k. jason: a blo

this is bloomb ♪ ♪ carol: welcome to "bloomberg businessweek." i am carol massar.at the magazine's headquarters in new york. carol: in this weeks's issue, a lot of global stories. jason: we start with israel and bibi netanyahu. this week, new news about his political travails tied to his is no spirit this is a familiar story. carol: a

. ♪ >> welcome to bloomberg businessweek. kelly at bloomberg headquarters. a big show this week.we explore that city's future as a financial hub. backdrop of brexit. we go to south carolina where we talk to the although ceo about the new plant there. what it means for that state's economy and for volvo's chinese owner. we start with the big

. ♪ taylor: welcome to "bloomberg businessweek." i am taylor riggs. jason: i am jason kelly.dquarters in new york. taylor: one of our favorite stories, justin trudeau. we spoke about how he is navigating negotiations with president donald trump. jason: trade on the forefront, we also go global with one of the most listened to voices on business and economics mohamed el-erian, and he tells us what to be worried about and what not

. ♪ carol: welcome to "bloomberg businessweek." i'm carol massar. jason: and i'm jason kelly.headquarters in new york. carol: in this week's issue general motors signing a winning , strategy in china. jason: that's right. i don't think many people have heard of it outside of china. carol: exactly. jason: we get to a first, really interesting story t

. ♪ >> welcome to "bloomberg businessweek." i am carol massar. jason: i am jason kelly.: in this weeks's issue, a lot of global stories. jason: we start with israel and bibi netanyahu. this week, new news about his political travails and business. this is a familiar story. carol: a lot of questions out there and speaking of questions, a lot of questions about the

. >> welcome to bloomberg businessweek.we start in israel. about the height to his business. this is a familiar story. carol: a lot of

with law enforcement officials and computer crime experts is in the latest issue of bloomberg businessweek from london is a writer of a report, and robinson. -- ed robinson. bighas this case been so and yet we have not really heard anything about it? type of a primordial attack when you look at the history of the spectacular hacks. -- debt has been well known in law enforcement. what made it -- it has been well known in law enforcement, they use the tools of cyber espionage, state backed agencies, when they go into a network, they want to place it under surveillance. that is what they did according to the police. they used be a fishing to --bauer into a bank network a would take over the cameras on the pcs and grab screenshots, they would log keystrokes. as a result, they could identify which bankers moved money around and would take control of them. matt: it is a fantastic story. i recommend everybody check out bloomberg businessweek to read it. ♪ tom: futures are flat after yesterday's adjustment to the trade war's. politics, we of considered the dollar as litmus paper. greek,ers in brus

up republic and joshua green, cnn political analyst and national correspondent from bloomberg businessweek. before we get into what's happening and how can it end, i want to just turn to you on your reporting because where the administration had hoped this would deter, right, a number of these illegal crossings at the border, it hasn't. >> yeah, brooke, that's absolutely right. i've obtained internal documents from dhs that sort of spell out over a period of time starting in april when the first steps of this zero tolerance prosecution policy was in place, they predicted that the full impact of the deterrent effect would be realized in about two to three weeks. >> okay. >> as the weeks go on, you see that the two places you would expect to see that impact, the number of people crossing illegally and the number of people showing up at a port of entry to legally claim asylum as we were just sort of hearing about, those two numbers both have the opposite effect every single week through the end of may that we saw in the policy. and the documents acknowledge cbp has not yet seen the deterrent

carol: welcome to "bloomberg businessweek." i'm carol massar. jason: and i'm jason kelly.adquarters in new york. carol: in this week's issue, general motors signing a winning strategy in china. jason: that's right. i don't think many people have heard of it outside of china. carol: exactly.

david: the cohost of bloomberg businessweek. carol, thank you for being here. we know g.m.g in china and they have been for quite some time. buick is a huge branch. i think of buick and cadillacs. >> that is what they got smart about in terms of strategy. they looked at some of the smaller cities and they look at the growing middle class in china and the bought about the price point. they are tapping into the market. they have sold a lot of cars. 4 million cars in china have been sold. one million more than in the u.s. global 18% of their profit and growing. than: they start at less $7,000. carol: what general motors is thinking about -- what they did in the u.s. you purchased a chevy and then you upgraded. that is what they are thinking in china as well. that you start with a lower price point and then you go up. alix: and then having to do with the migration of jobs. have this with a cocktail. part of the headline is that early in the 1990's, 3% of americans moved across state lines every year. and now it is half of that. 2017's how the lowest migration in the century. th

trump, the campaign was accused, in a "businessweek" article, of trying to suppress the vote of "idealisticls, young women and african americans," a charge he denies. did you micro-target by race? >> parscale: no, we did not. not at all. >> stahl: never? >> parscale: nope. >> stahl: did you post hateful images? >> parscale: i don't believe so. >> stahl: the candidate trump was never shy about pushing buttons, about pushing prejudices. he used what most people would consider offensive language sometimes. >> parscale: i don't think the math said that most people saw it as offensive. i think a small group of people saw it as offensive, who have a lot of power. >> stahl: but you did mirror him? >> parscale: we mirrored certain things that he would say, mainly things he said in rallies. >> stahl: many of the messages he sent out were what's known as dark ads. they're called dark because they're micro-targeted to individual users who are the only ones who see them. unless they choose to share them, they disappear. can you say anything you want in those dark ads? they're really not transparent? >>

scarlet: you want to read the full story and bloomberg businessweek, available online and on newsstands bloomberg. ♪ scarlet: it is 3:00 in new york. julie:elcome to bl s. live in new york over the next hour, here are the top are cove. trade hopes in the end of easy money. higher.500 pushes other record for the nasdaq. what is it like to face off with carl icahn? and the primary issue. candidates make it through the california primary as democrats fight for house -- fight for the house come november. .> the bulls are out we have a nice rally for the major averages. the dow up 1%. mentioning, s&p 500 and the nasdaq up half a percent on pace for yet another record close in a row. investorsf 2000, positive at this point. around the easing of trade tensions. let's take a look. , why areall-time highs we not seeing that for the s&p 500? it is a one-year chart. congestionaction and looked very bearish in the fact that it was breaking the uptrend suggesting sellers were trying to get control. ofaking above the downtrend the low were highs. we are still within this range between 2600 and 2800.