i am carol massar. david: i am david gura. we are inside the magazine's headquarters in new york. law -- e talk about david: the written case -- carol: under armour's battle to be the sportswear king. david: all that ahead on "bloomberg businessweek." ♪ david: i am here with the editor in chief of "bloomberg businessweek," ellen pollack. let's start with the policy section. there was a supreme court decision that came down on immigration. deadlocked. this is now a sign of things to come. ellen: it was deadlocked 4-4. it goes back to the lower court. the lower court has not scheduled hearings. and what it does is basically leave many, many people in flux. david: a huge disappointment to the president. this was a signature achievement of his tenure thus far. where do things stand with his plan to allow undocumented immigrants work in the u.s.? ellen: it is all frozen at the moment. or a lot of it is frozen. taking it out of the political realm for a moment, for companies, it is a problem. because they have employees who are here

i'm carol massar. david: and i'm david gura. en to us on the radio. carol: in the global economic section, a look at what is in -- what is at risk in the spewed over the south china sea. >> there is an application for the united states and every other coastal nation because we have a 200 mile exclusive zone projecting from our shores where we have exclusive use of fisheries, an exclusive right to drill for oil, subsea mining, and those claims extend only if it is a habitable piece of land. david: meaning was exactly? -- meaning what exactly? >> meaning you can live on it, it,hat people have lived on and that it could sustain human life without outside intervention. you could grow crops and have freshwater. the decision of the south china sea implies, that is a high bar to meet. and some of the islands around which the u.s. has an enormous exclusive economic zone might no longer be entitled to it if judges and arbitrators decide to follow the guidance of this tribunal. david: looking at the mass, an incredible amount of ocean coul

i am carol massar. david: i am david gura. the larger trading investigation. all of the head on bloomberg's this week. ♪ let's start with a public policy section. the supreme -- supreme court --ision that came down, >> it is deadlocked for-four and goes back to lower court and a lower court has a scheduled hearing. what it does is leave many people influx. david: a huge disappointment to the president. a signature achievement of his tenure thus far. ellen: it is all frozen at the moment. or a lot of it is frozen. taking it out of the political realm for a moment, for companies, it is a problem. they have employees who are here on visas and have immigration issues. they have trouble planning what to do with their talent. it is not just a social or political issue. david: it is a business issue as well in a lot of global economic news. a number of pieces in the magazine, including one by editor in chief john micklethwait. ellen: we have an entire section devoted to brexit. it is a huge deal. we have an interesting essay by john m

i am carol massar. david: i am david gura. carol: under armour's battle to be the sports where king. david: all that ahead on "bloomberg businessweek." ♪ david: i'm with the editor and chief of "bloomberg businessweek ." courtwas a supreme decision that came down on immigration. deadlocked. >> it was deadlocked 4-4. it goes back to the lower court. the lower court has not scheduled hearings. what it does is laid just leave many people influx. david: a huge disappointment to the president. a signature achievement of his tenure thus far. it is all frozen at the moment. or a lot of it is frozen. taking it out of the political realm for a moment, for companies, it is a problem. they have employees who are here on visas and have immigration issues. they have trouble planning i do not know what to do with their talent. not just a social or political. david: issue. it is a business issue as globalid: in a lot of economic news. a number of pieces in the magazine, including one by editor in chief john micklethwait. llen: we have an enti

i'm carol massar. >> and i'm david jura. >> the power of facebook live. the realignment of the american political parties. david: all that ahead on "bloomberg businessweek." ♪ carol: we are here with the editor of "bloomberg businessweek," ellen pollack. and in the opening remarks section, the reporter argues that brexit will not stop globalization. we are seeing is trade ties deepening. and we are seeing more of it. ellen: right, the argument is that if brexit happened it looks like it is going to. if trump gets his way and is more of an isolationist in the u.s., we are at a disadvantage. the rest of the world's deepening their ties. china is trying to launch its own it kind of free trade zone. asian nations. there is a southeast asian group of 10 nations that are forming trade ties. so globalization will not stop , even though brexit has happened. david: given the rhetoric we have heard, if congress doesn't pass that, we'll lose ground. as you look at the trade picture, there's the u.k. stand to lose

carol: i am carol massar. david: a government playground for swindlers. head on bloomberg businessweek. ♪ david: we are here with alan pollack. something in the global economic section about chinese who have moved to big cities and are now moving back. what is causing that to happen? people left their families, in many times left their children and went to work in factories. now they are trying to go home and they are more -- there are more opportunities. china is encouraging mess, helping them start small businesses. china is trying to make some of these areas into tourist destinations. carol: what does it mean for all of the workers in the city? ellen: there still are plenty of people there, but many factories are not as busy as it has been because manufacturing has moved to cheaper locales. to become more of a service sector economy and consumer driven economy so they are really encouraging these other kinds of businesses. david: how difficult is it for a chinese person to move from one location to another? ellen: it is not so easy because there are reg

i am carol massar. david: i am david gura. our's battle to be the sports where king. david: all that ahead on "bloomberg businessweek." ♪ david: i'm with the editor and chief of "bloomberg businessweek ." courtwas a supreme decision that came down on immigration. deadlocked. >> it was deadlocked 4-4.

i am carol massar. david: i am david gura. ion, the nfl may be recruiting players from joystick to pigskin. carol: we spoke to a reporter. it is professionalized video gaming. it is people playing games ranging from games you have probably seen before, sports games, all the way to games with potions and sorcerers and goblins and orcs, things that if you watched you would have no , idea what was going on. carol: it is a big industry. >> it is a huge industry. they sell out nba sized arenas. some of these matches on digital streaming get over a million viewers, which a lot of american sports and entertainment people would love to have for their average viewing. it is a massive business. sponsorships, there is tv rights. all of it. it is a fully fledged, getting to be very mature sports industry right now. david: we can debate the sportsness. but let me ask you, you write about how professional sports are getting into this leagues , are getting into it. where do they see value? eben: the real value they see is in the demographics.

let's go to carol mann's -- carol massar and cory johnson standing by with jason brown. etf's rank highly on his investment radar carol: this is the bloomberg advantage on bloomberg radio. we are talking with jason brown, chief investment officer at fun dax. we want to talk about how you pick some of your funds and some of the etf's you guys look at. does it feel like there is a fair amount of opportunity out there? guest: if there is one thing we have noticed is that this market is resilient. maybe we have gone away from the secular bear environment or you can think long-term about your investments, which is a great opportunity to not necessarily worry about the news and things that are coming out. instead, to be able to think longer-term and follow the traditional investment process like asset allocation and rebalancing. when we look at etf's as a way to get exposure in an area, theyk at this moment where have $5 billion in assets and how that works the world of etf's. robo advisors are interesting because they are trying to promote the idea of low cost eds and chargin

what's join cory johnson and carol massar on the radio. the bloomberg advantage and charlie reinhardt is with us he's ahead of portfolio management at mainstay investments. i have him at $82 billion in assets under management. the market environment is interesting. we have seen quite a run-up on the equity side and we also see the treasury side with rates staying low. does this market make sense to you? guest: i think it does. if they are looking at historical earnings, they think it is expensive. we think it is pretty reasonably valued where it is today and the way we arrive at that is take the inverse of the pe ratio, subtract the feds measure of inflation and you get a real earnings yield near 4% that is close to the present average. cory: but you don't get earnings growth. we have markets at near equity -- near highs and we are still getting into this quarter, but we are going back nine months and earnings are just not rising. guest: if the expectations prove to be right, this is the fifth quarter will have negative year on year earnin

i am carol massar. david: and i am david gura. r's battle to be the sportswear king. david: all that ahead on "bloomberg businessweek." ♪ david: i'm with the editor and chief of "bloomberg businessweek" ellen pollack. there was a supreme court decision that came down on immigration. deadlocked. this is now a sign of things to come. ellen: it was deadlocked 4-4. it goes back to the lower ur

you can listen to me and carol massar on the bloomberg radio app, bloomberg.com, and sirius xm stationthis is bloomberg. ♪ ♪ cory: welcome back to the best of "bloomberg west." i am cory johnson in for emily chang. this week, bloomberg presented a focus on pharma. diving deep into pharmaceuticals and biotechnology with a range of stories and analysis across every one of bloomberg's platforms. bill gates has made it the mission of his foundation to use modern medicine to wipe out the disease from the poor in the world. he sat down with erik schatzker in boston. bill: vaccines have still been the tool that saves the most lives. even today, inventing new vaccines for hiv, malaria, tb, a number of these diseases that are still out literally killing millions of people, that's a top priority for us. because it is a magical intervention. erik: and other areas like gene therapies, for example, or gene editing, how much promise do you think they have relative to the perhaps easier work -- i hesitate to say it that way -- that can be done in vaccine development? bill: gene editing is such a basi

i am carol massar. david: i am david gura. we are inside the magazine's headquarters in new york. d: the written case -- carol: under armour's battle to be the sportswear king. david: all that ahead on "bloomberg businessweek." ♪ david: i am here with the editor in chief of "bloomberg businessweek," ellen pollack. let's start with the policy section. there was a supreme court decision that came down on immigration. deadlocked. this is now a sign of things to come. ellen: it was deadlocked 4-4. it goes back to the lower court. the lower court has not

carol massar take it -- caroline hyde, take it away. >> ericsson shown door after 28 fantastic years. the shareholders went out. the c.e.o. is shown the door. futures up and ready to go. we are seeing currently flat outlook. not a single move when you are looking at the futures. cat 40 down by .1%. a little bit of profit taking. remember the b.o.j. this week and the federal reserve as well. check on the assets. asian stocks have been trading. we have seen the asia-pacific up, clinging on to gains by .1% despite the slump about we have seen in nintendo. scales of opportunity are limited when it comes to the exuberance surrounding pokemon go. so much hope for stimulus coming from the bank of japan. gold as you see currently down .4%. lastly, oil up by .3%. that is what we see, the pick up in riggs making the numbers sending down shivers to the spines. here is bloomberg news. >> the turkish prime minister has ruled out early elections saying the government plans an infrastructure fund to keep growth on track, speaking exclusively to bloomberg, he says the company is open for business. >>

you can listen to me and my coanchor on the bloomberg advantage carol massar on the bloomberg radio appmberg.com, and sirius xm station 119. this is bloomberg. ♪ . ♪ >> our top story, three performers markwest traders have been convicted of libel manipulation. they were found guilty of conspiracy with other barclays employees between june of 2005 and august 2007, the decision comes almost four years today since the bank paid out hundreds of millions of dollars in fines for fixing key benchmark rates behind more than $350 trillion in securities. one of the most high-profile probe brexit campaigners has resigned as the vigor of his political party. he is stepping aside as the head of the u.k. independence party, he said he has done his bit and wants his life back. has set out her campaign to be the u.k. next trimester, bowing to push a wicked process of pulling the country out of the european intends tosaid she keep the negotiations as short as possible, adding neither we nor our european friends need prolonged uncertainty. day fromws 24 hours a journalists in more than 120 countries, let

i'm carol massar. >> and i'm david jura. >> the power of facebook live. ent of the american political parties. david: all that ahead on "bloomberg businessweek." ♪ carol: we are here with the editor of "bloomberg businessweek," ellen pollack. and in the opening remarks section, the reporter argues that brexit will not stop globalization. we are seeing is trade ties deepening. and we are seeing more of it.

is with colleagues in radio, cory johnson and carol massar.me everybody to bloomberg radio. they have $133 billion in assets under management. how has this changed what you are doing back home? eric: it has tempered expectations as far as growth is concerned. what we have seen is a significant decline in interest rate expectations. that? you surprised by eric: yes and no. we are surprised that it has .een so material that is a bit surprising that you are seeing a push clearly deep into 2017. perspective, it certainly changed the complexion of any near-term action on the part of the federal reserve. we are still holding out that we are likely to continue to see progress made, particularly in the labor data. that brings us to the importance of friday's figures dispelling may. which may be indicative of a long-term trend. cory: we had the verizon strike that impacted the main numbers. -- may numbers. the figures we get this week may help us understand what's going on in the labor markets right now. eric: it is hard to extrapolate one data point.

let's go to carol massar and cory johnson. >> thank you so much.ybody, to bloomberg radio. steve, you walked into the studio and our producer said what did you think of the jobs report. you thought it was good. >> robust. >> really? even though if you look at the three-month trend, it is not as strong as the trend of the first quarter? >> last month was revised down. this month strong and will probably be revised down. at a good number. it is ok. i don't think it will take the fed off their policy path. y: we got the revisions for last month which made it look worse in some ways. are we to believe this number because last month was so weird with the verizon strike? >> there is a lot of volatility. the margin of error is plus or -100,000. that is why you look at the long-term numbers. i think the fed is looking at an economy that is doing ok. the labor market is improving. wages are improving. they are looking at a bias to raise rates. international events are preventing them from doing that. if there were such a thing as u.s. in isolation, they wou

it's good to carol massar and cory johnson.egel, he's very much involved in the cutting edge of what is going on with runs. talk to me about what kinds of deals you are seeing. mark: we are seeing a lot of interesting software companies. their big hardware companies supplying the drones. companies are doing interesting things for surveillance and photography, for collision avoidance, which will be a core technology to make drones. we have invested in a company doing delivery. this could be for food, for pharmaceuticals. company whichve a is detecting drones. becausethe other side criminals are getting creative and using these to get onto wi-fi networks, to interfere with airplanes and believe it or not, prisons are having a big problem. cory: tell me about the prison problem. used toones are being deliver drugs and weapons into prison. a typical prison has multiple week and they want to see who picks it up and try to figure out who flew the drone and go arrest them. egg are is a much issued and i realized it was, but it turns o

carol massar and co-rage johnson. -- curry -- cory johnson. right it's currently at a record high. the first since last may. sherry, we talked about the treasury bonds and how they had been climbing into the records as well. they are now pulling back a little bit so that yields are no longer at their record lows. the dow industrial is it 7/10 of 1%, 18,273. shery, i know that you were looking at the nasdaq earlier. definitely. it's headed to its highest close this year. we also have the s&p 500 just at an all-time high. surpassing the 2131 closing .ecord and the 2035 it's an incredible rally the we are seeing across the markets. we will continue to monitor that for you. there has been a change at the top of burberry. christopher bailey will now step down as ceo and assume the title of chief creative officer. go belly will be joining him at the helm of the company. he spoke of francine lacqua earlier today simply. francine christopher: i spoke to our board. quite a while ago about all of the opportunities, identifying all the ones we had ahead

scarlet: carol massar and cory johnson of bloomberg radio, speaking of john augustine of huntington trustncome is a tough world right now. still ahead, exploring the high seas in style. inside the latest luxury cruise. ♪ >> flung bloomberg -- flown -- from bloomberg world headquarters in new york, you are watching "bloomberg markets ." scarlet: let's begin with the headlines on bloomberg's first word news trademark has more from our new york newsroom. mark: british prime minister theresa may said she plans to lead the u.k. in the spirit of unity and build a country in her words, that works for everyone. following a meeting with queen elizabeth, buckingham palace released an image of may offering a deep curtsy signaling she accepts queens invitation to form a government. may takes over from david cameron, who resigned after britain's vote to leave the european union. cameron said it was, in his words, the greatest honor of his life to serve as prime minister. japan's emperor has said he wants to advocate at some point in the future, according to japanese tv network nhk. he is 82 and has be