its c.e.o.live, but volvo shares are also surging the truck maker doubles cuts. >> are the davis easy growth over? >> and it's a big mix for credit suisse as legal costs hit the bank. his boss is coming back. >> good morning to our viewers in europe. good evening to those in asia. a very warm welcome to those just waking up in the united states. i'm guy johnson. >> and i'm francine lacqua. this is "the pulse" live from london. >> what have we got coming up for you? saving sony. the firm forecasts a surprise $1 billion loss. we'll see if a major restructuring plan can ensure its future. >> and, of course, it's a big day for automakers. volvo trucks is one of the biggest gainers in europe. the company reported operating profit that beat estimates, and they also announced job cuts. >> daimler posted a 45% surge in profits. later this hour, daimler's dr. z jones us live. but first of all, we have dr. r. he's here with the latest. let's start with voluntarily vosme >> yeah, nice pop for them, biggest

c.e.o. of comcast and roberts said steve told me it sucks. that's a reminder that comcast does have some cool technology and brian roberts does think about putting out a more innovate tive service. but most of us view the cable companies as slow and trying to squeeze us for money and have been hoping there might be some new great type of tv watching experience that is more like the experience you have on your phone. i think that's why a lot of people have been pointing to apple. as bloomberg has reported in apple's talks with time warner cable, the challenge apple faces is breaking up that cable ecosystem, being able to sign competitively priced deals with all the content players that are similar to the ones that the cable companies already have. >> you did an interview with disney c.e.o. bob iger. disney owns nbc, i want to talk about the content perspective. first take a listen to what iger had to tell you in that interview. >> whether this consolidation or ownership of the existing multic

the c.e.o. facebook c.e.o. mark zuckerberg explains. >> the dow has the worst slide in seven months. >> youtube confrontation a viral video landed a california teacher in hot the besis that ma is that millions of people will qualify for financial assistance. it's important to remember that the lower your annual income, the greater financial assistance you will receive. enroll today at coveredca.com. >>> covering walnut creek, burlingame and all bay area this is abc7 news. >> looking at lake tahoe where they are making snow in advance of the next impulse of rain that we hope will come through. mike has the forecast coming up. >> a former son california school teach senior facing says charges after two women came forward to make accusations and a youtube video is at the center of the investigation the. >> you brain washed me and manipulated me. what you did was wrong. >> yes. >> that is an accuser confronting the teacher about the abuse on the phone. all while recording the conisderation on video. the recording w

coming up, microsoft has a new c.e.o.e'll have more on what the leadership change means for the tech giant. that is coming up next. >> i'm francine lacqua in london. this is "on the move" on bloomberg television, streaming live on bloomberg.com, your tablet, phone and any windows phone as well. it could be a deal worth $1 billion. mp ovartis is said to be drawing interest. sam, talk to us about the vaccine unit and what is going on with merck. >> it is interesting with novartis in the fourth quarter results. until now, when you look at their accounts, you see diagnostics. they sold the diagnostics business sometime last year. for about $1.7 billion. the company during the call, the conference call they had, actually gave some numbers that allows you to try and estimate what the profitability of this business, what the revenues of this business is as far as vaccines are concerned. we estimate $1.4 billion in sales just for vaccines. looking at the numbers they gave, suggest it made no money. at best in 2014, i think they a

now jon, you also did a big interview with disney c.e.o. bob iger. disney owns nbc, i want to talk about the content perspective. first take a listen to what iger had to tell you in that interview. >> whether this consolidation or ownership of the existing multichannel business changes, we're going to be as in demand as we've been. you can't go after the multichannel subscriber without offering them our product so it doesn't really mean much to us. > given comcast also owns nbc, peter, that adds another wrinkle into this whole potential deal. how does that play into this? >> it's a big factor. they are not a straight cable player. they are a content provider as well. it's an important wrinkle and it's one of the factors that will make regulators look at this differently and why the stakes matter more than cable bar. one thing very important to remember is the consent decree they signed with the government when they took on nbc, they agreed to do certain things in that deal, things to promote more competition in terms of programming and expect they ar

by former senator and governor john corazon governor of new jersey former governor he was once the c.e.o. of goldman sachs as well now it collapsed in a heap in two thousand and twelve or was anyone charged with fraud they're funny you should mention the. chicago firm that rose from the ashes of wrath kohen other bankruptcy that was money or to been tried and no one has really been prosecuted for that either although there have been some charges laid by the c.f. to see the consumer financial protect. the commodities. regulator and there also have been several lawsuits although not one of them yet naming the the auditor peter b c at least not any major ones now do you think the accounting industry was complicit in the failures that created the financial crisis which obviously began in two thousand and seven certainly that's sort of the promise of a lot of what i talk about both on my blog in other publications an out when i speak at events. the auditors are right there in the middle and they work both sides of the equation so for example peter b c is the auditor of j.p. morgan which was t

the c.e.o. of a.o.l. apologizes for blaming ill babies for rising health care costs. the french president goes it alone on his u.s. visit. and they're braving the ice to see something remarkable. when the "cbs evening news" continues. i saw this red, blistery, ugly looking rash and i felt this horrible pain on one side of my back. all i knew was it hurt. i had 16 magic shows to do. i didn't know how i was going to be able to do these shows with this kind of pain that i was in. i called my wife and said "i'm in trouble." i got this thing that's hitting me right in the back. i don't know what it is. she went on the internet and she said "i think it's shingles." it's something that stays in your system from when you get chickenpox. as a professional magician it's just not about the magic. it's about the connection i make with my audience. the kids. instead of being able to connect with my audience all i could do was really count each one of my tricks going two more, one more, that's it. i could feel the shock in my back and it was like "wow its got to get better than thi

after c.e.o.'s that are in the first million or two they started hitting up against that top tax bracket and so they stopped taking more pay after all who wants to pay seventy percent income tax this is why for about fifty years c.e.o.'s only earned about thirty times what their average workers are. that high top marginal income tax rate encourage c.e.o.'s to keep their money in their business to invest in new technology to pay their workers more hire new workers so their businesses could expand as businesses became more profitable thanks to investments in automation and technology workers saw more of those profits their share of those profits and they increased their standard of living and they had more leisure time and time magazine in one nine hundred sixty six assumed that that trend that have been going on for almost two hundred years would continue right through the beginning of the twenty first century but time magazine didn't see ronald reagan coming and then reagan came along slashed incom

ron jagfeld, the c.e.o. of generac. coming up, comcast says it's going to play billions for time-warner cable. what is the real cost for consumers as well as content producers? plus a.i.g.'s chief executive is going to tell us about that company's increase in dividends and stock buyback programs. this is "taking stock" on bloomberg. comcast is going to acquire ime-warner cable for $42 billion. and it puts cam -- comcast on the road to be the largest cable provider in the united states united states. 11 uld have more than million residential subscribers. matt wood, the policy director for the nonprofit group free press says this would be a disaster for consumers. before we get to the consumer angle i want to you just describe the math. why does this make sense for comcast? big l, you know, a disadvantage they've always had is eau -- they lack a nationwide foot print. this gives them a huge opportunity for innovation. >> why does it necessarily have to be a national company to be creating innovation. >> there is some thin

the c.e.o. joins us.ews. >> the european commission has elected to award a grant to the company this week. yesterday the minister in scotland announced a further investment. >> right. in to tality, you have how much money and how are you going to invest it? >> as of last week, with we pulled together 20 million in sterling in funding. we will commence construction on the largest tidal project. >> the potential for that is? >> the potential is recently reported as capable of supplying half of scotland's energy requirements. >> that is a base load. this is consistent. >> it is very consistent. it is what we call firm. it is very prirktable. -- predictable. we are almost 100% predictable. >> out of curiosity, this money, a from scotland and b, more importantly from the e.u., this is a long project. what happens to that money? >> it is certainly safe. regardless if there is a decision on independence. >> just give us a sense of the timeline. how long does it take? ? you started construction. how long does it

the c.e.o.'s microsoft for salaries. >> without drink or bathe in this water? >> that is water? hard to believe the hotel guests face this in sochi as the games are hmm, minutes could save you fifteen percent or more on car insurance. everybody knows that parker. well, did you know auctioneers make bad grocery store clerks? that'll be $23.50. now .75, 23.75, hold 'em. hey now do i hear 23.75? 24! hey 24 dollar, 24 and a quarter, quarter, now half, 24 and a half and .75! 25! now a quarter, hey 26 and a quarter, do you wanna pay now, you wanna do it, 25 and a quarter - sold to the man in the khaki jacket! geico. fifteen minutes could save you... well, you know. od is in a good that comes in 25 flavors. from whole natural to wasabi and soy sauce. and once good gets going, there's no stopping it. get your good going. blue diamond. snack nut of the u.s. ski team. of the besis that millions of ra is that millions of people will qualify for financial assistance. it's important to remember that the lowe

i accept that. >> after the media outrage the c.e.o. announced aol will keep its 401 plan in place. >> a northern californian company is recalling nearly 9 million pound of meat products. the slaughtered animals were sick and not inspected. lisa bernard reports that some of the meat has been in the food supply for months. >> inspectors took a look last month and ordered a smaller recall. then the u.s.c. a says upon further investigation they found that this company, the rancho feeting corporation processed meat from animals that were diseased or unfit. that's when they ordered a larger recall. one of the largest in years. operations are at a stand still. federal regulators recall 8.7 million pounds of meat september to retailers in california and temaze. they processed disease and unsound animals. the processing center was not fully suspected. what happened was they were not suspected and put animals through the system that were unfit and unsound for human consumption. whether the inspectors were not there at the time or in another part

then we have absalom work president and c.e.o. of merck investments on today's show he's talking all things macro economics you won't want to miss my interview with him finally in today's big deal i'm joined by don't want the only of ms abigail martin the breaking the set her sit down with want to discuss the disturbing trend is actually pretty sad in banker suicides had to get serious there for a second it's rocking the financial world and we're taking a closer look at it it won't want to miss a moment and it all starts right now. with . our lead story today money laundering more specifically money laundering in the age of bitcoin now many would argue that hiding or failing to report where money comes from is in and of itself a victimless crime yes yes yes yes h.s.b.c. helped to fund tens of thousands of murders and launder money for al qaeda and hezbollah which is unanimously considered a bad thing no one is debating that especially not me however when the hong kong shanghai banking corporation was found guilty in two thousand a

the average c.e.o. in america made thirty times what his average worker made and it was typically his and. and then reagan dropped the top tax rate from seventy four percent down to twenty eight percent and dropped capital gains substantially and now we have c.e.o.'s you know. stephen hemsley the c.e.o. of united health care to has taken over a billion dollars from a company that's supposed to be providing health insurance to people who got before him a dollar bill is wired to one point six billion as i recall and these guys aren't unique i mean there's ten people on wall street who took more than two billion dollars each last year. at some point don't we have to ask the question what is what could any person possibly do that is worth compensation of a billion dollars number one and number two if we're going to if we think that that might be fueling an addiction that's damaging to the individuals and to our society might we not want to look at that fifty year period that we had before reagan when billio

the c.e.o. of orizon holdings, the amazon of russia. russia is not known for being an easy place for entrepreneurs. what was the key to your success. >> we have been investing for a long time in logistics. we've had shareholders with us for 15 years. >> what do you mean by logistics? >> we have invested not only in warehouses the way amazon does it. we have invested in our trucks and networks of pick up point, places where customers go pick up their orders. and there's over 2,000. >> what is the learning curve like in relaying the products to russia. is that much of a challenge? >> it's a challenge, because they are learning to use the internet. when we started 15 years ago there were not many people online. as you mentioned. less than half the population was online. we need to get them used to online shopping, what it means to press a button and wait for the parcel to be delivered. >> every successful c.e.o. talks about things and mistakes made. what did you learn along the way of building up a successful business in russia. >> the mos

they're still looking for a c.e.o. why can't they find a c.e.o.? well, i'm not -- i'm not really -- obviously i know bill. but i'm not close to the board process. but if you think about it, from the job of running microsoft is one of the -- and i used to tell steve ballmer this is one of the toughest jobs in the world because you're competing with so many different companies. you have so many different products. and so any new c.e.o. coming in has to decide, do they continue to compete in so many areas? or do they jettison some of the larger investments that have already been made? and focus down on less -- on a lesser number of -- >> what would you recommend? >> to do that, i would have to really get in there myself. and i just try to give my advice on the outside. i think they'll probably be some amount of simplification. but the argument i think basically is if you -- if you're thinking about the future of computing platforms, smart phones, or laptops or whatever, can you -- something like search, is something like search, which google dominates

the c.e.o. is joining facebook's board. this is a guy who grew up on food stamps and was so poor he could not afford to call his family back at home in the ukraine. his cofounder, brian acton meantime, got turned down for jobs at facebook and twitter. the result, the two of them after leaving yahoo! started a messaging service that anyone could afford. just days ago he found himself eating chocolate-covered strawberries at mark zuckerberg's house on valentine's day and striking a deal that will make him and his 50 employees very, very rich. so how will facebook's acquisition of whatsapp impact its competitors? i spoke with ben thomson, an author, who joined me from taiwan and andreessen horowitz partner benedict evans. i asked them if whatsapp is worth the price tag? >> it's a bit like the instagram acquisition. was instagram worth $1 billion or 1% of facebook at the time? the question for mark zuckerberg is around maintaining share engagement and share of social activity. whatsapp now has 450 million active users, 70% of t

the virgin c.e.o.ntroduced me to some super-sized friends. ♪ >> you can't drive this next pursuit, but you can bring it home with you. we talked to legendary art collector, ronald lauder. >> it is a question of taste and passion. >> and his top advisor, phyllis hattis, gives us an insider's tour of today's market. >> it sounds like you are telling me not to buy it. >> i am telling you to take your time. >> ronald lauder is heir to the famed estee lauder cosmetics fortune. he started collecting art at age 14 and has amassed one of the most impressive personal collections in the united states. >> these are picasso. >> all picasso. >> this year he displayed it for the first time at this museum he founded on the upper east side. >> what inspired you? >> the most important art is tough art, art that is brutal. to me, art is never about investment. there has always been a passion. >> an expensive passion. lauder's passion made headlines when he purchased this gustav klimt portrait for $135 million. >> how wo

big energy are pushing hard for fracking all across the country but don't you dare frack on exxon c.e.o.'s rex tillerson the yard see this million or scumbag things it's perfectly ok to poison the planet with toxic pollution at the hands of his precious business but as soon as his pristine landscape it scarred well that's just not acceptable to tell a person as rich neighbors have filed a lawsuit in an attempt to shut down a fracking project that's just a little too close to his texas mansion and the petition in the town to block a tower that would provide water for fracking because of how much of an eyesore it would be in the suit they actually go as far as claiming it's illegal it would create a noise nuisance and traffic hazards interestingly enough mr tillerson sday job is literally to debunk the same claims he's making in the lawsuit and to promote hydraulic fracturing a practice is already been proven to cause earthquakes and birth defects in the very least in fact tellers and as even garren as far as saying that those who oppose and try to regulate fracking are quote holding back

morgan who get bored of it now we recently learned that the bank c.e.o. jamie dimon received a whopping seventy four percent raise this year and take it home now a total of twenty million dollars that's up from the eleven point five million he got the year before now mind you this is the same year the very same year that j.p. morgan was fined over twenty billion dollars by the justice department and i want to read you this quote mad tell you the wrote an article in rolling stone saying quote the biggest news to me was how brutal an indictment jamie's raise was on the obama holder justice department which continues to profoundly misunderstand the mindset of the finance villains they claim to be regulating now here's the question sam do you think matt tavi is exaggerating or is there some merit to his argument. actually he's being quite nice just as the problem is turned into tax collectors you commit a crime you don't do time there's no conscience crime without consequences all you do is you pay a small fortune a relatively small fine. of the billions of d

vikram and we can't leave out black rock c.e.o. larry fink as ruth sold in the back of the room attempting to be as innocuous as possible he witnessed bizarre displays such as wall street execs fancy themselves as stand up comedians and performing weird al yankovic style song parodies incorporating occupy slogans into their rituals and seriously riffing on how the one percent is now a target is some. then relatively new for these people but the curious spectacle of male only rich boy clubs wearing drag is nothing new nor is the fact that liberally congregate many secret societies to celebrate their own power and nothing exemplifies this attitude more than yale's skull and bones club a one hundred seventy two year old organization that seeks to get its members into positions of power during the two thousand and four elections that came out that bush and his opponent carried both were members of skull and bones the most exclusive fraternity and america according to the london telegraph the phenomenon of the yalies as yale are known h

yes of course the steps are ok that's all i need to know so here is a guy he's a c.e.o. one of the largest corporations in the world the biggest national gas producer in america one of the biggest oil producers in the world of corporations not the nations and he isn't a obviously very wealthy area whatever city it is a five million dollar home the poorest region of texas however is the one going on undergoing the most fracking the most new fracking wells suddenly since two thousand and eight and it is known as the eagle ford shale play this four hundred mile long fifty mile wide bokken olive oil and gas extraction stretches from the leon county texas in the northeast to the mexico border in the southwest since two thousand and eight more than seven thousand or oil and gas wells have been sunk into the brittle sedimentary rock another five thousand five hundred have been approved by state regulators making the eagle ford one of the most active drilling sites and america now that paragraph goes with this headline max fracking boom leaves texans under toxic cloud this is a

our next guest is absolutely mark president and c.e.o. of merck investments and manager of merck funds now axel sat down with me earlier today to discuss europe currencies emerging markets and pretty much everything macro now i started off by asking him where he sees the u.s. economy heading over the course of twenty fourteen and here's what he had to say. the challenge is that because we based this recovery on money printing on a house a price inflation that as the federal reserve is trying to untangle it so the message got itself into. things are going to go downhill again and the reason why that's so dependent on the fed is because part of the recovery for example is based on the home price we covered while those interest rates creep up. we're going to get significant headwinds to what we see is companies like wal-mart struggle to make their earnings and that's not a company specific pocket had problems amazon has problems that means the dollar short there are a few wealthy folks that can spend money but if you actually have to work fo

breaking the set you know sometimes there's a story that just defines hypocrisy one is how facebook c.e.o. mark zuckerberg bought out his neighbor in mansions so he could have some privacy nevermind the millions of facebook users his personal data is sold off to vulture businesses another is a story that broke just a few days ago the exxon is the largest natural gas producer in the u.s. and if you've been following the downward spiral of u.s. energy consumption you know that the government and big energy are pushing hard for frack in all across the country but don't you dare fracking exxon c.e.o.'s rex tillerson the yard see this million or scumbag things it's perfectly ok to poison the planet with toxic pollution at the hands of his precious business but as soon as his pristine landscape it scarred well that's just not acceptable to tell a person as rich neighbors of a lawsuit in an attempt to shut down a fracking project that's just a little too close to his texas mansion and the petition in the town to block a tower that would provide water for fracking because of how much of an eyesor

microsoft named satya nadella as its new c.e.o., and he has big shoes to fill since current c.e.o.hing you need to know about steve balmer.