this is "bloomberg businessweek." ♪ ♪ jason: welcome back to "bloomberg businessweek." kelly. taylor: and i'm taylor riggs. you can also listen to us on the radio on siriux xm, channel 119. also on a.m. 1130 in new york, 106.1 in boston, 99.1 f.m. in washington, d.c., and a.m. 960 in the bay area. jason: and in london on dab digital, and the bloomberg business app. climate change front and center this week as hurricane michael slammed into florida's panhandle with a force not seen in the centuries. plus, a new ominous united nations report urging companies to spend trillions immediately to avoid irreversible damage. taylor: one thing is clear as the world grapples with record hurricanes, floods, and wildfires, climate change will get worse. now a small but growing group investors are betting on it. here is chris flavelle in washington. chris: i did reach investors who did not want to participate in the story because they did not want the appearance they were profiting off of disaster. but it will take money, it will take new ideas, new products, and somebody has to fund

this is "bloomberg businessweek." ♪ jason: welcome back to "bloomberg businessweek."l ahead, if you thought luxury air travel was a thing of the past, first class is making a comeback. jason: plus, alibaba's attempt to keep its lead in china's cloud market with chips. carol: let's get to our cover story. digs deeper into the unsolved murder of a billionaire. jason: he and his wife were strangled in their toronto home last year. no one knows who did it or why. matt: this was the biggest story in the country by a mile. there was nothing to compare it to in terms of the unexplained murder of two of the most prominent people in the country. in their home together. it is just inconceivable. they had a public memorial service a week later. had about 6000 people at it, including prime minister trudeau. these were two people at the center of public life. the reaction to their deaths reflected that. carol: the police initially thought it was a suicide? is that correct? >> the theory that was leaked the first 24in hours by police was that this was potentially a murder-suicide,

this is "bloomberg businessweek." jason: ♪ jason: welcome back to "bloomberg businessweek." kelly. carol: i'm carol massar. still ahead in this week's issue, the tyranny of the u.s. dollar. it has reigned supreme as the world's reserve currency for more than a decade, but is it time for regime change? jason: speaking of regime change, how amazon and netflix are raising the stakes against traditional studios in the talent wars. carol: but first, general motors and honda are teaming up to develop self driving cars. the japanese carmaker will spend $750 million to take a 6% stake in g.m.'s self driving unit, cruise, then spend another $2 billion on jointly developing and deploying autonomous vehicles with g.m.. jason: g.m.'s president dan ammann spoke with bloomberg's david westin. dan: our mission is to deploy this technology safely on a massive scale and having another partner on board that brings tremendous resources to the equation is another big step in that direction. softbank invested $2.25 billion, honda is bringing $2.75 billion to the table and a huge amount of engine

jason: "bloomberg businessweek." ♪ jason: welcome back to "bloomberg businessweek.": you can also listen to what's on the radio -- us on the radio. jason: and in the bloomberg business app. ol: president trump blasts the central bank for the intention to keep raising rates. he said he may be regrets appointing jay powell. but he is hardly the first fed chair to feel the heat from the white house. emo openser's new mo a window into how past presidents try to impose their will on the fed. carol: we talked to christine harper. volker haspaul worked for six presidents. he has seen us so much. he is living history. jason: tell us about the uneasy relationship between the federal reserve and the white house. christine: he was observing a meeting between fowler and martin, famous for calling the fed's job is to take away the punchbowl before the party gets started. trying toesd johnson influence the fed to prevent them from raising rates. been reappointed by reagan in 1983. in 1984, an election year, volkecker had a surprising experience. carol: you say it happens in the li

this is "bloomberg businessweek." ♪ carol: welcome back to "bloomberg businessweek."assar. jason: i'm jason kelly. join us for "bloomberg businessweek" every day on the radio from 2:00 to 5:00 p.m. wall street time. you can also catch up on our daily show by listening to our podcast. get that at itunes, soundcloud, and bloomberg.com. carol: and you can find us online at businessweek.com. jason: in this week's technology section, a brutal legal battle between sony and fujifilm has big tech scared the backup system, which is actually reels of magnetic tape, is at risk. carol: who knew? let's get more from susan decker. susan: the backup cloud is magnetic tape. it is not quite the cassette tapes we remember from music or the vcr for movies, but it is the same underlying technology that has been around for 100 years. you still go old school when you want to make sure stuff is saved for posterity. jason: now it is the subject of a massive legal battle. when i saw your name on this story, i thought this is going to be a juicy one because this means the companies are going t

this is "bloomberg businessweek." ♪ carol: welcome back to "bloomberg businessweek." carol massar. jason: and i'm jason kelly. join us for "bloomberg businessweek" every day on the radio from 2:00 to 5:00 p.m. wall street time. you can also catch up on our daily show by listening to our podcast. carol: and you can find us online at businessweek.com, and on our mobile app. this week, president trump targeted the fed again, calling it his biggest threat. jason: he blamed its monetary policy for last week's sharp selloff in the stock market. we spoke with peter coy about the nasty surprise and what is worrying investors moving forward. peter: the stock market has been remarkably calm. the five calmest quarters of the last 20 years have come since the beginning of 2017. people got used to the dow and s&p fluctuating in tiny little bits, trending upward over time. out of the blue, in the first half of october, there were two days in a row where the s&p fell a total of 5.2% in back-to-back sessions. carol: everybody kind of woke up. peter: where does this come from? it is a

this is "bloomberg businessweek." ♪ toon: welcome back "bloomberg businessweek."n also listen to us on the radio on siriux xm, channel 119. also on a.m. 1130 in new york, 106.1 in boston, 99.1 f.m. in washington, d.c. jason: and a.m. 960 in the bay area, as well as in london on dab digital, and the bloomberg business app. in the features section, miuccia prada and her husband patrizio bertelli oversaw prada's rise as a global luxury powerhouse. now struggling to turn the country around after three years of declining profits. carol: i spoke to stephanie baker in london, and she told us how the brand is making a comeback on instagram. stephanie: they had a perfect storm. in 2015, the slowdown in china hit, partly driven by a crackdown on corruption and lavish gift giving, which impacted a lot of luxury companies. that was the same time i think the luxury fashion industry really changed. instagram took over as the main trendsetter in terms of determining what fashion -- what is fashionable, taking over a role held by volk and elle for many years. it was at this point

jason: "bloomberg businessweek." ♪ jason: welcome back to "bloomberg businessweek.": you can also listen to what's on the radio -- us on the radio. jason: and in the bloomberg business app. carol: federal reserve independence has been a hot topic this month as president trump blasts the central bank for the intention to keep raising rates. he said he may be regrets appointing jay powell. jason: but he is hardly the first fed chair to feel the heat from the white house. there is a fascinating excerpt memoir,l volcker's new a window into how past presidents try to impose their will on the fed. carol: we talked to christine harper. christine: paul volker has -- was instilled with this sense of serving his country. he has worked for six presidents. he has seen us so much. he is living history. jason: specifically about the federal reserve and the excerpts in the magazine go to the heart of the relationship, that sometimes uneasy relationship between the federal reserve and the white house. tell us what he experienced. christine: one of the stories is about him attending

this is "bloomberg businessweek ." ♪ jason: welcome back to "bloomberg businessweek."ason kelly. carol: i'm carol massar. the. the of the u.s. dollar. is it time for regime change? jason: speaking of regime change, how amazon and netflix are raising the stakes against traditional tv studios. carol: the first, general motors and honda are teaming up to promote self driving cars. will take a 6% stake in gm's self driving unit, another $2n spend billion on deploying autonomous vehicles with jim. with: gm's president spoke bloomberg's david westin. thisr mission is to deploy technology safely on a massive scale and having another partner on board that brings tremendous resources is another big step in that direction. point $25nvested two billion, honda is bringing $2.75 billion to the table and huge amount of resources. talked after the softbank investment, you set your goal was to have a real autonomous vehicle deployed in calendar year 2019. what does this deal due to that date? does it move it up at all? dan: that remains the goal. we are working as fast as we can to ge

disputed bloomberg businessweek's reporting. the -- joined by one of from santa clara, california, the chief technology officer of the cyber security firm. these are senior-level officials

carol: "bloomberg businessweek" is available on newsstands now.ne at businessweek.com and our mobile app. what is your must-read? carol: i like the story susan decker wrote. it reminds me that is a backup cloud and it is held together by tape. who knew? it is interesting there are very few companies in the market and legal battles going on. i learned some things. jason: it is a good story and we did learn a lot about it. but yes, i was making fun of you. my must-read, india. brad stone literally wrote the book on amazon. this is amazon, walmart, and one of the biggest economies going at it. some opportunities and challenges. carol: when i grow up, i want to be hannah elliott because i want to go rough roading in a rolls-royce suv. jason: more bloomberg television starts right now. ♪ david: when you are the head of the imf -- christine: i take in store for the hard days. david: how did you get to be the head of the entire firm? david: it was synchronized swimming. you became a member of the national team of france. christine: i did european champio

. >> bloomberg businessweek has uncovered the most significant supply chain attack. >> the stunning discoveries are ace -- the subject of an investigation involving 30 companies including government contractors. >> and china is behind it. let us get to jordan robertson from washington. reporter: a special unit from -- ahina liberation army

"bloomberg businessweek." jason: we are joining you from bloomberg headquarters in new york. islor: how technology changing the most basic component of business and finance. that is money itself. jason: cannabis used to be a legal. now it is investable. taylor: first, we have a bloomberg executive -- exclusive. chief annan slams nikki haley's decision to announce her resignation earlier this week. jason: and specifically, her timing ahead of the midterm elections. steve bannon sat down in london. i was in the room what john micklethwait. here is what he had to say. steve: i think the timing of it is very suspect. i have been out with these congressional house races. if president trump -- i've called this for many months for this to be his first relaxed. if you loses the house of representatives, he will be impeached. they will bring impeachment hearings immediately. it is imperative that we keep

we will talk that we will get to the subject of this bloomberg businessweek investigation.ch cap do you fall into? the one that says the u.s. and china are waging a trade war, or the one that doesn't? henry: we are in the camp that this is a new era between china and u.s. relations. before,lked about that and i think the dominoes have fallen in favor of our worldview. let's talk about the short-term and get to the long-term. short-term, what many investors are missing is when you look -- the trade tensions are increasing economic activity. in shanghai and beijing. companies are pre-ordering ahead of the tariffs, and we see the same thing in the u.s. erik: they want to get in before the bell. if you look at third-quarter gdp estimates for the u.s., it is 34%. half of it is inventory built, which i'm not sure why that is not been picked up, but people are trying to get ahead of the christmas season at the lower prices. that is the near-term. the second is on inflation. you have to separate the world among industrial companies and consumer companies. industrial companies -- th

businessweek." i'm taylor riggs. jason: i'm jason kelly. we are joining you from bloomberg headquarters in new york. taylor: in this week's issue, the death of cash. how technology is changing the most basic component of business and finance. that is money itself. jason: cannabis used to be illegal. now it is investable. taylor: first, we have a bloomberg exclusive. donald trump's former steve strategist steve bannon slams nikki haley's decision to announce her resignation as you ambassador -- u.n. ambassador to the u.n. earlier this week. jason: and specifically, her timing ahead of the midterm elections. steve bannon sat down in london. i was in the room with john nichols weight. here is what he had to say. -- john micklethwait. here is what he had to say. steve: i think the timing of it is very suspect. i have been out with these congressional house races. if president trump -- i've called this for many months for this to be his first reelect. if he loses the house of representatives, he will be impeached. they will bring impeachment hea

disputed bloomberg businessweek's reporting.he -- joined by one of from santa clara, california, the chief technology officer of the cyber security firm. these are senior-level officials across the government. this is a robust and broad. they installed microchips on supermicro motherboards. what a microchip is, think about it as an infection that is hardcoded into your computer. you cannot get rid of it without throwing the machine away. very few countries would have this capability. china's control over the manufacturer of computer hardware, makes this something that is possible. >> you have had a lot of oversight over the chain. what you make of this? >> one of the things that we recognize is an implant would be one of the most part always for a nation to spy on a data center infrastructure. required is ay is chain of trust. applications need to trust the underlying operating system or software. that software have to trust the underlying hardware. if you are a birth -- able to tamper with the hardware, you are able to have acc

businessweek. >> coming up, the world's wealthiest with jeff bezos losing $9 billion in one day.e is next. this is bloomberg. ♪ amanda: i am amanda lang inch cut -- shery ahn: now the merger field mania has produced a $1 trillion problem for bond markets. bloomberg corporate finance reporter smith is here with us in the story. you get tons of cash and you via your rivals. how bad did get? like you said, a $1 trillion potential problem. right now, we're seeing a massive buildup in the corporate bond market. this is the lowest wrong of investment grade. these companies are one, too, were three downgrades away from entering high yields, which would lead to much more expensive borrowing costs for them should we need to access otherarkets for any purposes, whether it is more growth or fuels at the -- field acquisition. looking att we are now. it is comprising half of the investment grade market. access toourse, borrowing no doubt fueled all of this. in terms of the ability to come from of this, how do the companies stack up? aboutre not talking distressed issuers or high yields by any

temperatures continuing to cool slightly as we get into the businessweek. i will have a look at the extended forecast coming up. >> thank you, rosemary. >>> a 5-year-old girl safe and a man behind bars after he stole a running car with a little girl inside. it happened at story road and leeward drive. sarah, what a scary story. sounds like it all happened very quickly. >> reporter: yes. what a nightmare for any parent to think of something like that happening. the good news is the san jose police arrested the 30-year-old martin vjerta, charged him with kidnapping and stealing a car. look at the mug shot here so you can see what he looks like. officers say the 5-year-old's dad left her inside the running car and went inside the convenience store. the suspect jumped into the car and stole it with the little girl inside. the car was spotted a mile from the convenience store. the suspect ditched the car and ran. the little girl was not inside the car but spotted nearby. the suspect was arrested and the little girl was reunited with her dad. police say she is sa

we've seen a bloomberg businessweek piece looking at supply chain strength.this something you think is fully secure when you look at marcus opt and can be going forward -- microsoft and can be going forward? satya: when it comes to operational security including the soft train -- software supply-chain, it is about every day being at the gym and practicing. in our case, we are no exposure but we constantly have a lot of people dedicated to it, and a lot of rigor and process dedicated to imply our supply chains are secure. up with theapping cybersecurity conversation is privacy. do you think the legislative agenda is where it should be, regulation is where it needs to be when it comes to privacy of individual's data and the security of company data? satya: that is a great set of questions but we are already living in a world where the secular movement around individual data is that you should think of privacy as a human right. gdpr in europe legislates that. we have done a lot of work implementing that in our products and we have taken off some of the rights fr

tom giles in the san francisco.a must read on the bloomberg and bloomberg businessweek. supermicro, amazon, and apple have all disputed our stories, and those denials are accounted by current and former security officials who detailed the discovery of the chip for this story. more reaction to the revelations next. a chinese strategist joining us. shery: also find out how foreign businesses can prosper in china despite these ongoing trade tensions. the brazilian currency raising losses as markets speculate on the upcoming elections. we will be live in sao paulo later. this is bloomberg. ♪ haidi: welcome back. our next guest says current china tensions are not down to trade deficit, but go down far deeper. studying the relationship between the economic giants is becoming ever more difficult. he is a longtime advisor to the chinese government and the author of "how china leaders think." thank you so much for your time. some people say this could be the new cold war. are in the unhappy world of self-fulfilling prophecy, where the reaction to a perceived threat on the other s

. ♪ carol: welcome to "bloomberg businessweek." i am carol massar. jason: and i'm jason kelly.e joining you from bloomberg headquarters. jason: a businessweek exclusive on an army of 16,000 and no, this is not a subversive sci-fi movie, it is the state of politics in the united states. jason: it turns out women are not the play it safe investors that they have always been presumed to be.

a bloomberg businessweek investigation conducted extensive interviews with intelligence and corporate sources. both amazon and apple dispute the summaries. so has supermicro, the company that assembled the servers. >> u.s. authorities and major american companies discovered hardware manipulations involving a major assembler of circuit boards. what that means is, think of this as a permanent infection of a motherboard. every time the server boots up, that malware is shot to the heart of the system, creating a stealth backdoor into any of the protective systems. we reported today that amazon and apple were two of as many as 30 companies that discovered these chips. the significance for u.s. officials was that this was a leap forward for china in terms of china's ability to manipulate hardware bound for u.s. companies. caroline: the selloff in global bonds is sending shockwaves into other asset classes. breaking through a 3.2% for the first time in seven years. meanwhile, the fed chair adding to the pressure after he said the central bank could boost benchmarks past the all-important neu

beyond fast. ♪ carol: welcome to "bloomberg businessweek." i am carol massar.i'm jason kelly. we are joining you from bloomberg headquarters. jason: a businessweek exclusive on an army of 16,000 and no, this is not a subversive sci-fi movie, it is the state of politics in the united states. jason: it turns out women are

this is bloomberg. ♪ ♪ taylor: welcome to "bloomberg businessweek." i'm taylor riggs.son kelly. we are joining you from bloomberg headquarters in new york. taylor: in this week's issue, the death of cash. how technology is changing the most basic component of business and finance. that is money itself. jason: cannabis used to be illegal. now it is investable. taylor: first, we have a bloomberg exclusive. donald trump's former steve strategist steve bannon slams nikki haley's decision to

week's issue of bloomberg businessweek.p, waiting for a trump windfall after his friend take the white house. he is still waiting for his reward. and alibaba's bargaining chip, taking matters into its own hand. market, thehe vintage timepieces the newest emerging market to watch. here i am, surrounded by businessweek people. >> we got you. let's talk about tom barrick. this is a guy that was supporting then candidate donald trump. he really came into the spotlight literally and figuratively stocking the stage of the republican national convention, introducing you ivanka trump that ultimately introduced her father. intimate, by all accounts, to the president. they bonded over personal issues. chairman of the inauguration committee, and here we are. business isn't great. and maybe more pointedly, some of the relationships -- >> the middle east, saudi arabia, the gulf states, places like that. >> and especially with the qatari that have been some of their biggest backers and really found themselves squeezed by this president.

the two companies deny the reports, which came after a year—long investigation by bloomberg businessweekthe uk. ‘novichump‘ the headline as it covers the discovery of four russian operatives trying to hack the chemical weapons watchdog investigating the novichok attack in britain. let‘s look at the bbc news website. this story‘s on british mps saying fashion is harming the planet, discarded clothes are piling up in landfill sites, while fibres are polluting the water system and poisoning marine life.

the two companies deny the reports, which came after a year—long investigation by bloomberg businessweekspies are on the front page of the metro, and pretty much every other newspaper here in the uk. ‘novichump‘ the headline as it covers the discovery of four russian operatives trying to hack the chemical weapons watchdog investigating the novichok attack in britain. let's look at the bbc news website. this story's on british mps saying fashion is harming the planet, discarded clothes are piling up in landfill sites, while fibres are polluting the water system and poisoning marine life. and finally, the business insider with what might end up being the most memorable story of the lot. it shows this new font, sans forgetica. well done if you read that! it has apparently been designed in conjuction with psychologists so that anything typed in the font is easier to remember. with me is the political commentator, henry bonsu. let's get some of your thoughts on. we're going to start with this extraordinary op—ed in the wall streetjournal by extraordinary op—ed in the wall street journal by br

this is bloomberg. ♪ ♪ carol: welcome to "bloomberg businessweek." i'm carol massar. in new york. carol: this week, the future of retail. e-commerce giants amazon and walmart are after global expansion. next stop on the battleground, india. jason: plus, sears files for bankruptcy. why eddie lampert couldn't keep the retail giant afloat. carol: first, to the politics section.

businessweek the piece about concerns of supply chain strength. iss is something you think fully secure when you look at microsoft? going forward, when you have such strength? satya: when it comes to operational security, including silicon supply chain or software supply chain, it is all about everyday being in the gym at practicing. , we are very confident we have no exposure, but we are constantly -- we have a lot of people dedicated to it, a lot of technology, a lot of rigor insuring our supply chain. to be shakier -- figure. -- secure. caroline: privacy. do you think the legislative agenda is where should be, regulation is where it needs to be when it comes to privacy of individuals' data and the security of company data? are greatse questions, but we are already living in a world where the secular movement around individual data is you should think of privacy as a human r already gdp legislates that. rights taken some of the from gdpr and made it global. california has looked at it, we hope for more of a national privacy law because we don't

the story and the latest issue of "bloomberg businessweek" hits stands joining us from friday.ashington, one of the authors of this exclusive story, jordan robinson, and from santa clara, california, the chief technology cybersecurity officer from mcafee. talk to us about the extent of your reporting. you spoke to 17 unnamed sources report. talk to us about what you found. >> we cite 17 different sources in the story. these are senior-level officials across the government and also senior-level individuals inside of the affected companies, aws and apple. this is a constellation of sources that is robust and broad and it is a pretty comprehensive look at what happened in this attack. what happened here is that the chinese government installed , according to our reporting, malicious microchips on supermicro assembled motherboards. let a malicious microchips is, think about it as an infection hardcoded into your computer. you cannot get rid of it without throwing the machine away. a very powerful attack. very few countries would have this capability. what has really alarmed u.s. of

first to our top story, we take a look at the bombshell businessweek report for how china.he most significant data hack. they managed to install a hardware hack in the data centers of newly 30 companies, but they did not stop there. malicious software was introduced and that code allowed attackers to secretly take over servers. one customer targeted was facebook, which told bloomberg that in 2015, we were made aware ofmalicious manipulation software from industry partners from our threat intelligence industry. while facebook has purchased a limited number of micro hardware , our investigations revealed it has not been used in production and we are in the process of removing them. and washington, we have one of the authors of this investigation. jordan, i want to start with you. you are reporting that we are looking at three potential avenues of attack, including the hardware attack we talked about yesterday. walk us through these three different avenues. >> sure, thanks for having me on. here is what we are looking at. we reported yesterday on the added chips, the malicious

apple and at abbott an amazon web services the online retailers cloud computing unit bloomberg businessweek broke a story deal with sailing how chips are made by a company called super microcomputer and sold by one called elemental gave chinese authorities a virtual open door to affected servers in the wake of the news some tech expert professed to be staggered at the apparent. threat from altered chips while others are say implanting an altered chip would be an odd workaround when manipulation software would be more likely to escape detection for their part amazon and apple are pushing back vigorously on the story both companies are release detailed responses that bloomberg report is untrue and we are going to question more on this one. the economic diplomatic and legal drama surrounding chinese electronics firms e.t.e. has taken another intriguing turn on wednesday u.s. just to court judge kate extended probationary status in relation to charges of violating u.s. sanctions on iran was found was first found to be in violation of u.s. policy back last year two thousand and seventeen and pai

in the latest issue of businessweek hits the stands tomorrow. from washington is the author of this exclusive, breaking news story, jordan robertson. and howa hardware hack is it compared to the other hacks we have seen? >> this is a learning curve as we reported the story well over a year. a hardware hack is a piece of malware embedded on the chip that is fixed to a circuit board , effectively a permanent hack. the insidious part is if you can embed your malware on a chip, circuit board, that is a permanent infection that nothing can remove except throwing the machine away. if you have malware at that level, you cannot trust any software that sits above it. in many ways it is the perfect attack. alix: why did china want to do this? >> one of the things we looked -- both administrations have 10 concerned about china's infiltration of the supply chain , but we thought this must be about consumer data, and we were quickly corrected by people familiar with the investigation. they said this is about long term access to sensitive networks and ip. it'

you have seen the "bloomberg businessweek" piece about concerns of supply chain strength.s this something you think is fully secure when you look at microsoft? going forward, when you have such strength? satya: when it comes to operational security, including silicon supply chain or software supply chain, it is all about every day being in the gym and practicing. in our case, we are very confident we have no exposure, but we are constantly -- we have a lot of people dedicated to it, a lot of technology, a lot of rigor and process dedicated to ensuring our supply chain to be secure. caroline: privacy. do you think the legislative agenda is where it should be, regulation is where it needs to be, when it comes to privacy of individuals' data and the security of company data? satya: these are great questions, but we are already living in a world where the secular movement around individual data is you should think of privacy as a human right and gdpr already legislates that. we have done a lot of work implementing that in our products. we have taken some of the rights from gdp

. ♪ ♪ carol: welcome to bloomberg businessweek. jason: someone has been s

it follows a bloomberg businessweek report that detailed how the chinese intelligence services ordered subcontractors to plant malicious chips over a two-year time, ending in 2015. a former personal assistant has killed himself on the afternoon he was to plead guilty. the new york city police said he jumped from his room on the 33rd aroundn east 76th street two: 30 p.m.. that is when he was scheduled to plead guilty to intersect transportation of stolen property in connection with the theft. news, powered by more than 37 journalists and analysts. this is bloomberg. >> thank you. the price is right. after rejecting an offer last month as too low, could we see a deal? this is bloomberg. good morning, everybody. we are 14 minutes away from the cash equities trade this morning. in hong kong, tencent suffering its longest losing streak since its ipo. following -- falling below 290 hong kong dollars. let's do the bloomberg business flash with juliette saly. ackman was shorting china's currency. now he is going long on coffee drinkers. revealing a stake of about 1.1% it isrbucks, he thinks th

"bloomberg that businessweek" has targeted chinese hacking has said no u.s.cked hardware. "bloomberg businessweek" described how the chinese company used subcontractors to plant malicious chips in the moderate voice. -- in the motherboards. revenue rose 14% to $3.68 billion for paypal. it is making progress toward the popularenmo, mobile payment service. that is the bloomberg business flash, francine jury francine: thank you so much, julia. -- francine. francine: thank you so much, juliette. bund yield spread reached is fin white as level since 2013. -- widest level since 2013. >> we have been open and constructive dialogue, citing some different valuations on our economic policy. lucy macdonald from allianz global investors and him are stillom cibc with us. when you look at italian assets, is the spread widens, it makes them less profitable. ut inevitably, there has to be some sort of compromise, because there is no other alternative. so they have to come to some sort of deal, but in the meantime, there is still uncertainty in europe. francine: right, but i

a businessweek report that details how china's intelligence service ordered the planting of melissa'smalicious chips. in the u.s., the national hurricane center has said a dangerousbecome category 4 bank hurricane. residents had been urged to evacuate near panama city. the system, which could cause --age, has cut gulf of oil gulf oil production. have beenhes issued as far north as the carolinas. a former personal assistant to sachs ceo -- goldman has killed himself on the afternoon he was to plead lt in stealing rare wine. new york city police say he jumped from his room on the 33rd floor on east 76th street. that was the exact time he was scheduled to plead guilty in a toeral court in manhattan interstate transportation of stolen property in connection with the theft. global news, 24 hours a day. powered by more than 2700 journalists and analysts. >> thank you very much. the latest global financial report. there is complained to see. meanwhile, president trump has restated his criticism of the fed, saying the central bank is moving too fast. great to have you with us. the imf warned