am carol massar. jason: i am jason kelly. can also find us online at bloomberg businessweek.com. carol: in the 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 s400, a missile defense system that is increasingly popular in the world. russia is in talks with a number of countries that would be seen as traditionally 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 would a purchaser or country look to do with it once they had it? henry: it protects 50 kilometers. it shoots down any incoming ballistic and cruise missiles. ja

carol: general motors signing a winning strategy in china. jason: 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. a $6 billion bill, and a cast of characters. carol: i bunch of companies, on-again, off-again deal. >> he bought his shares in xerox in 2016. xerox had gotten into the outsourcing business by buying a company that been started by another colorful billionaire who will be a character in our tale. he bought his shares thinking there was an opportunity, that basically these companies it should split. they did, and the standalone xerox is basically left as a pure play copy maker. before we get too deep into the who carol icahn is? >> he has made a name for himself by taking over these companies. sometimes that involves selling off assets, sometimes that involves taking over the companies, sometimes it requires demanding stock buybacks. he is very successful and willing to be very confrontational. whenhappened here is that your ago he had a din

carol: this is bloomberg businessweek. ♪ businessweek. i am carol massar. jason: i am jason kelly. so listen to us on the radio. unserious xm channel 119, 106.1 in boston, and a and 960 in the bay area. carol: and in london on dab x mux3 and on the bloomberg radio plus app. in the technology section, airbus ventures, alphabet, and and kleiner perkins is setting up a company. >> we are doing investment in early-stage companies, from seed stage. we have two characteristics. we are investing globally. so we do capital in the u.s. and in silicon valley, where we are headquartered. but also in europe, israel, and asia, out of tokyo, japan, where we also have a business office. and we also invest independently. carol: independently from airbus. i imagine you are into all kinds of transportation in travel. what kind of trends are you seeing in companies that you are investing in? is there a certain trend or are they all different types? >> yes, we definitely see a trend, which is pretty much the backbone of our investment thesis, a disruption along the vertical axis. from ground to deep sp

carol: he does not like my standard deviation. i can feel it. ter] jason: we are talking to peter coy. carol: bow down to peter coy. peter: the data from the census bureau shows the ratio of young people who live with their parents, not only has it not rebounded, has it not gone back down the way it was expected to, it is actually at a record high going back to records going back to 1960. so, yeah, if you are living in the bedroom you grew up in, you are probably not in the mood for starting a family. carol: the other thing that i think is important, too, you talk about the amount of student debt. >> yes. carol: i can see people hold off until they feel like they can do it the way they want to do it, or can afford to. peter: this is a change of events starting with states cutting back on financing for schools. most people go to public colleges that are supported by states. when they cut back, the burden fell on students. tuition went up, students could not afford it, they borrowed money. according to the new york federal reserve bank, the amount

♪ carol: welcome to "bloomberg businessweek." i am carol massar. jason: i am jason kelly. are here 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 lot of questions out there. and speaking of questions, a lot of questions about the effectiveness of president trump's immigration policy. we know this is an important part of his form. there isn't necessarily the data everyone would like to see that supports what they are doing. jason: interesting bloomberg insights into this. one of our chief investigative reporters digs in there. we go to north korea to dig into the summit, its implications, but not just politically. jason: right. we take a look at the business story doing business in north korea. we catch up with cristina lindblad. it is our global cover story. >> we are short on information on how denuclearization will take place, but it was a chance to look at the nort

carol: welcome back to "bloomberg businessweek." i am carol massar. jason: i am jason kelly. you can find us online at businessweek.com. carol: 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. peter: he had agreed to sign the g7 statement. atre is always a communique 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 as the u.s. put steel and aluminum tariffs on canada, he would do the same thing to the u.s.. stuff he would say. especially to his domestic audience. trump took umbrage at this, flew into a rage, i would say, and said he was not going to sign -- or he withdrew u.s. support for the g7 statement. trying to say is a lot of people have observed trump

carol: in this week's issue general motors signing a winning , strategy in china. jason: that's right. ion't think many people have heard of it outside of china. carol: exactly. jason: we get to a first, really interesting story about a deal that died. a $6 billion bdeal, and a cast of characters. carol: a bunch of companies, on-again, off-again deal. we got more from a reporter. >> carl icahn bought a-shares in xerox back in 2016. at that point, xerox had gotten into the outsourcing business by buying a company that been started by another colorful billionaire, who will be a character in our tale. carl icahn bought a-shares thinking there was an opportunity that these two companies should split. they did. and the standalone xerox is basically left as a pure play copier maker. before we get too deep into the story, remind us who carol icahn is? >> sure. some people call him a corporate raider. he prefers to call himself an active investor, and he has made a name for himself by taking over these companies. sometimes that involves selling off assets, sometimes that involves taking over the

this is bloomberg businessweek. ♪ carol: welcome back to bloomberg businessweek. i am carol massar. m jason kelly. you can listen to us on the radio. we are in new york, boston, washington, dc and the bay area. also in london and asia on the radio one plus at. this one is devoted to summer entertaining. jason: we start with a game changer. she is angela. this is a renowned chef. i got hired at the standard international hotel group. i am the creative director for food and culture. >> tells what that means. what does it mean? >> it is whatever i make it up to be. the position was created specifically for me. way thatreally unique i never thought i would go in. that happened because of the ceo. he wanted to work with me as a chef at one of our development properties. work being done was really fast and really weird. you think out-of-the-box. how do you approach food? >> food was something i did as a chore at home. i have five brothers and sisters but it was something i wanted to do. i was a kid that looked up at six in the morning to watch pbs food tv shows. julia child and jack le pen

carol: i imagine you are into all kinds of transportation travel.re you seeing in companies that you are investing in? >> yes, we definitely see a trend which is pretty much the, backbone of our investment thesis, a disruption along the vertical axis. ande are many companies products and services, hardware, software, that try to challenge not just the world of mobility, but conductivity and communications and innovation. , aol: one company particular silicon valley startup, you guys, along with kleiner perkins, and alphabet google, are invested in it. why? >> the short and simple answer to your question is possible. the word possible for us means a lot. we believe in the new possible. -- things that are used once are used used to be impossible. changes inmaterial, computer science, and andectivity and collective connecting intelligence, there are a lot of things that make those things possible. carroll: it is not using some sort of fuel, kerosene or intohing, to get a rocket space, but using kinetic energy, like spinning something around and propell

they were talking to stakeholders, and i think everybody said ok. caroly executives, it is a stock deal, so they are now becoming the biggest shareholders in microsoft. what say might they have in microsoft going forward? >> i don't know. microsoft corporate structure, i don't know. now, it sounds like they may want everyone to talk about it at the table. when you talk to people coming out of there, it doesn't feel like they are all pointing guns at each other like it used to be. who knows? cloward and open-source is huge for them and github is key to it. they pulled off something to the tune of $7.5 billion. if they continue to lead, and the new ceo of github comes from an open source company, and they will put him in charge, so it is definitely a new -- that part of the world is definitely running along the different principles than it was 10 years ago. it is going to take a while to figure out what is really happening. jason: you had a line where you said if apple makes yachts, microsoft makes a battleships. >> microsoft makes great tools for developer

become a foster parent she looked after for the next four years and is lucky to have such a devoted carol i reckon they will be with i love her so much. in the future. when they grow up. and they will have been people will be also feed them. they definitely. yes i live there will be see if they've. been fed now it's time for grooming and playing. in a few months and i will go to the big outdoor enclosure to play with the bigger chimpanzees there are twenty four there with so many mouths to feed it's a nonstop job for the team. caring for once. a year it's important the staff know how to treat them. after all. yeah and if you're not in no pits you can't get them in the house because those cattle everything differently but sometimes as soon as they reach certain age sometimes still come and take your food and put it in their mouth the awful. population has been in decline for decades during that all civil wars there were a sought after source of meat when left bit this one and his wife jenny have been running this sentence is two thousand and fifteen today caring for the young animals keeps t

carol massar and i sat down with him.is story. >> we are a nonprofit organization based in san francisco. we work primarily with low income immigrant communities to help develop their financial security. we got started about 11 years ago in san francisco working with immigrant communities here to help them develop their savings, get them banks, and get them more active in the financial marketplace. when we started our program about how to actually help individuals to develop their financial security, one of the things we noticed was that have do you actually do that when in fact, our community was largely un-banked or the vast majority of them had no credit score credit history? we realized that this was a big impediment for actually getting active in the marketplace. we needed to find a creative way to actually help them transition into the financial mainstream. and to help them truly build their financial security. jason: there was a marketplace of sorts, but it was just not being organized in a way that could actually

it's called upon jack oldfield and the problem now carol i know. mommy and sam are talking plants walking back and forth on the at the trucks like pass the truck. that's walking back for the iron man samurai or not the time here sorry san you gotta try to play. the. now. with page and offer a free. first for their. hero as the number two there is far better. player. but the. player start. page for us here. buyers. transpired kid. how did you know about it do you remember he said i knew he had a deal but how does he know if you're good. at that who put it he had to deal with. that but that he told him that. one on one. day a day. it was two thousand and ten. he come in there at first we didn't know what use in there for then he was like i'm an arab got thirty years for. murder and he'd say his name and went on telling us about his case. how they drove him here he was saying a lot of stuff that he should amend sand. where they hid where they were he hid the gloves something about it took a ministry took him somewhere else how they were at a pump jack

i am carol massar. jason: i am jason kelly. we are here at the magazine headquarters in new york. 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

it was loose carol but i don't see that the logic of the who said sentence forced verdict later i don't think this logic is going to prevent this whole russia election meddling hysteria according to sergei lavrov is a prime example of a new and trendy mentality kind of act still stand figure out later with the investigation into the russian interference in the us presidential elections still ongoing and in his opinion in opinion this approach prevails on the global geo political scene right now and they've even led to this quite peculiar exchange between him and the journalist. there are many in the west who say that the chaos whether it spreads it whether it's cause whether it's from the white house a book at all and that i would not only if i believe in psychics and therefore good for skeptical actions in sweden that the brotherhood is also into that later but the chaos are good ones and also me this does the chaos benefit russia as some in the west said. you have to be within the. historical free. for the logical for a. human because goodness it's russian government weeks before the

it was loose carol but i don't think that the what you call the queen who said sentence forced verdict later i don't think this logic is going to prevail this whole russia election meddling hysteria according to sergei lavrov is a prime example of a new and trendy mentality kind of act to accuse stand figure out later with the investigation into the russian interference in the us presidential elections still ongoing and in his opinion in circular opinion this approach prevails on the global geo political scene right now and they've even led to this quite peculiar exchange between him and the journalist. there are many in the west who say that the chaos whether it spreads it whether it's cause whether it's from the white house or but that alone that i want to get over if i believe in the cycle here it's a difficult for skeptical actions in sweden that the president is also into that later but the chaos are going to want an unseemly this does the chaos benefit russia as some in the west said. you have to be within the. historical free. for the logical for. you because goodness it's russi

it was loose carol but i don't think that the logic of the who said sentence forced verdict later i don't think this logic is going to prevail this whole russia election meddling hysteria according to sergei lavrov is a prime example of a new and trendy mentality kind of act still stand figure out later with the investigation into the russian interference in the us presidential elections still ongoing and in his opinion in circular opinion this approach prevails on the global geo political scene right now and they've even led to this quite peculiar exchange between him and the journalist. there are many in the west who say that the chaos whether it spreads it whether it's cause whether it's from the white house or but that alone but i want to get over it before leaving the cycle here it's a difficult for stepping away actions in sweden that the president is also into that later but the chaos are good ones and also me this does the chaos benefit russia as some in the west said. you have to be within the. historical free. for the logical for. you because goodness it's russian government wee

was loose carol but i don't think that the logic of the gui who said sentence forced verdict later i don't think this logic is going to prevail this whole russia election meddling hysteria according to sergei lavrov is a prime example of a new and trendy mentality kind of. stand figure out later with the investigation into the russian interference in the us presidential elections still ongoing and in his opinion in circular opinion this approach prevails on the global geo political scene right now and they've even led to this quite peculiar exchange between him and the journalist. there are many in the west who say that the chaos whether it spreads it whether it's cause whether it's from the white house or good at all in other words if not all of it before leaving the cycle if you are sick and you feel good for stepping away actions and surrender that the brotherhood is also into that later but the chaos are going to want to also be this does the chaos benefit russia as some in the west said. you have to be within the. historical free. for the logical for a. human because goodness it

i had no idea they were so necessary for so much of the food that we eat. carolre getting stolen big-time. jason: more bloomberg television starts right now. ♪ announcer: the following program is sponsored by food for the poor. >> it is so difficult to look at my children who are so hungry, and i can't give them food. >> i am scared because if the trucks are not careful -- the other day i saw a little boy get killed. >> i have a child who doesn't even have a cup of rice to eat. >> if we don't have any money, then we don't eat, that is all. >> i don't want anything to happen to them.

i had no idea they were so necessary for so much of the food that we eat. carolre getting stolen big-time. jason more bloomberg television : starts right now. ♪ ♪ david: let me ask you about the country you are from. khaldoon: the uae is a federation of seven emirates. oil is finite. we have to prepare herself for the future. david: you lead a group that bought a team in the premier league. khaldoon: manchester has been the most successful club. david: do you ever go down and say let me kick some footballs? >> would you fix your tie, please? david: well, people wouldn't recognize me if my tie was fixed, but ok. just leave it this way. alright. ♪

carol? >> oh, i think it's music to my ears, especially if we see it for some of the small business owners that sort of hisse misset the first time around. and i think the simplification piece was something that was missed. i love the visual of the post card. but for a lot of people they don't have that ability. if you schedule or you have a sort of a complex set of tax issues. so to have more tax cuts, to have that on a wider base, more in the middle class, small business, i think that will only further enhance the economy. melissa: jack, i weep for simplification. i mean it just makes me cry with joy, the idea that we may actually see that. it would be so -- it would be amazing. >> amazing. melissa: will you cry with me? >> i might be crying for different reasons. melissa: oh no. >> you talk about an economic miracle. now turning water into wine. i paid attention in sunday school. that's a miracle. borrowing money to provide tax cuts so you can collect the high fives today and the debt is someone e

this is bloomb ♪ ♪ carol: welcome to "bloomberg businessweek." i am carol massar. t 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

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 expression in the faith t

it was loose carol but i don't think that the logic of the green who said sentence forced the tick later i don't think this logic is going to prevail this whole russia election meddling hysteria according to sergei lavrov is a prime example of a new and trendy mentality kind of act still stand figure out later with the investigation into the russian interference in the us presidential elections still ongoing and in his opinion in circular opinion this approach prevails on the global geo political scene right now and they've even led to this quite peculiar exchange between him and the journalist. there are many in the west who say that the chaos whether it spreads it whether it's whether it's from the white house up at the lower part of this not only if i believe in the cycle of us are there for good for skeptical actions and surrender that the brotherhood is also going to be that late but the chaos or good going to the un to me this does the chaos benefit russia as some in the west said but. you have to be within the. historical for it. for the logical for it you mean because goodness it

jennifer carole/ victims' daughter:"i can't tell you how good it was yesterday to be with these womenng and they're so admirable."jennifer carole says they are the fiercest females she's ever met. and she got to know them for the first time here. . at this sacramentocounty courthouse where the suspect they say ripped apart their lives and stole their loved ones.. is finally facing a judge."i wish he could see how amazing they are."but 72-year-old joseph deangelo. . the former cop authorities say brutally murdered carole's parents and at least 12 others almost four decadesago. . stood silently in that courtroom cage. carole. . and about a half a dozen he's accused of raping. . sat right behind him. . studying his every move and state of mind."i want him worrying about his bunkmates, the guy walking up behind him who's in the shower with him. i want him worrying all the time."but attorneys say a trial may still be years away. for now. . carole is banding together with the women from court.they're meeting again here at a book reading for "i'll be gone in the dark" . . michelle mcnamara's

i am carol massar. jason: i am jason kelly. carol: in this weeks's issue, a lot of global stories.: 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

i would love to do. he said the governor wants to talk to you about it. i'm here. for the next three months and then carol and i have a long planned vacation to france for about three weeks or so. but otherwise i'm here. the night before we left, we were packing and jerry's secretary called, i kid you not, about 10:00 at night saying the governor wanted to know if i could join him for dinner to talk about this job. >> host: and your wife didn't kill you? >> guest: almost. we went out for chinese food and talked about a lot of different stuff, and at the end of the conversation he said would you come back? >> host: so you did get the vacation. >> guest: yes, i scored as you about land-use planning and we can come back to that in a minute. i do want to ask about the way jerry brown operated because you tell stories about working on his presidential campaign and the sounds completely loony. he wasn't even on the ballot and he decides i'm going to write in this state and that state. do you want to talk about that? >> guest: first of all when i got to sacramento, ronald reagan was governor. the contrast betwee

korean deal that has to be worked out here but i mean filled the lid language here is so very vague ok and expectations are higher than they were go ahead carol . yeah the the language is vague and i think that's to be expected but but i think that both sides have agreed on a principle of that there will be a phased process in which both sides will make certain moves in tandem with one another i think that's the key to this and that means that the north koreans have agreed to basically get to have the the destruction of nuclear weapons or process that obviously would be i.a.e.a. driven watched over. to get rid of the nuclear weapons as well as the capability to deliver them. certainly liver them to united states at the very least and that process of figuring out what the precise relationship is in terms of time between the different steps and which steps go with which is obviously a very detailed process that can't be done in a few days or few weeks it's going to take some months to do it it goes i think the agreement at this point has gone farther than any previous agreement in this regard and i've looked at the record of what happened in th

korean deal that has to be worked out here but i mean filled the language here is so very vague ok and expectations are higher than they were go ahead carol. you know the the language is vague and i think that's to be expected but but i think that both sides have agreed on a principle of that there will be a phased process in which both sides will make certain moves in tandem with one another i think that's the key to this and that means that the north koreans have agreed to basically get to have the the destruction of nuclear weapons or process that obviously would be i.a.e.a. driven watched over. to get rid of the nuclear weapons as well as the capability to deliver them. certainly liver them to united states at the very least and that process of figuring out what the precise relationship is in terms of time between the different steps and which steps go with which is obviously a very detailed process that can't be done in a few days or few weeks it's going to take some months to do it it goes i think the agreement at this point has gone farther than any previous agreement in this regard and i've looked at the record of what happened in

i said i'd love to do it the governor wanted to talk to me and i said fine, i'm here for the next three months and then carol and i have a long planned vacation to france but otherwise i'm here. the will. his secretary called me, about 10:00 o'clock at night thing the governor wanted to know if i could join him for dinner to talk about this job. we went out for chinese food and talked about a lot of different stuff and said i would start when i came back. >> i was going to ask you about the way jerry brown operated because he tells story about working on his presidential campaign. he wasn't even on the ballot and he decided i was gonna run in this state and that state. >> when i got to sacramento, ronald reagan was governor. the contrast was night and day. i used to see governor reagan come in, there was a three car motorcade and 9:00 o'clock in the morning he would drive in from his house in east sacramento up the elevator, 5:00 o'clock you could set your watch back. with jerry he lived in a little bachelor pad across the park and slept on the floor on a mattres and he would saunter across capital park arou

alix: carol and i will be hosting the boston -- boston pops fireworks spectacular. radition. i love the audience and the boston pops. it reminds me of our history. david: you make it better. alix: people come in like monday night and stay 48 hours. david: it is also as big as the michigan-ohio state football. checkout tv . watch us online and interact with us directly. a question, we love to hear from you. this is bloomberg. ♪ ♪ david: all of the banks passed the fed stress test, all but one. deutsche bank's u.s. subsidiary failed the quantitative part of the test, with critical deficiencies across the company's planning. that does not sound very good. lison: it doesn't, but it should not be a surprise. given a lot of the stories that have been coming out over the past few weeks about regulatory scrutiny, this provides more of an explanation as to what some of those issues maybe. david: this is part of a longer term set of troubles for deutsche bank. her stock has been going down and down but it is up a little today. alison: there are two longer-term stories. the

>> it was called "carol." >> i was carol. >> she did not win that one. >> i tried. >> what's wrong with that academy. >> it's like that katherine hera bit. i didn't get nominated. she makes me cry. >> you cry on television. >> yeah. >> it's the golden age of television. >> you don't win awards and that makes you cry. >> who signed on first? >> what? >> for the movie. who signed on first. >> i tried to get out of it. they wouldn't let me. i was contracted. >> she sent me an e-mail, is it true that you're doing this? yep. she said, whoa, i'm out. >> and here we are. >> i have to talk to somebody. >> is this what it was like in the trailer, between takes? >> it was really quiet. >> we didn't do any of this during the movie. >> no. >> it was like this, really quiet. >> all right. >> your mascara is running. >> i know. >> we're a funny group. >> how bad is this? >> don't cry. >> is it horrible? >> all right. >> you need to ask us something. >> how bad is it? >> it's fine. >> someone will come and touch you up, before you speak to some real actors. >> yeah. >> and night l

korean deal that has to be worked out here but i mean filled the lid language here is so very vague ok and expectations are higher than they were go ahead carol . you know the the language is vague and i think that's to be expected but but i think that both sides have agreed on a principle of that there will be a phased process in which both sides will make certain moves in tandem with one another i think that's the key to this and that means that the north koreans have agreed to basically get to have the the destruction of nuclear weapons or process that obviously would be i.a.e.a. driven watched over. to get rid of the nuclear weapons as well as the capability to deliver them. certainly liver them to united states at the very least and that process of figuring out what the precise relationship is in terms of time between the different steps and which steps go with which is obviously a very detailed process that can't be done in a few days or few weeks it's going to take some months to do it it goes i think the agreement at this point has gone farther than any previous agreement in this regard and i've looked at the record of what happened i