i am carol massar. am oliver renick. another disappointing sign in a disputed south china sea. iver: all that is ahead on "bloomberg businessweek". ♪ carol: we are with the editor in chief macon murphy of business week. look like they are taking moves that could shore up the steel industry. ,> this is one of the concerns this massive oversupply in the steel market, and even though there has been a concerted national domestic policy to address that collect, it hasn't manifested. on the supply side, they are trying to trim that down. that to go down to have the steel price go up to make this supply and demand work for an industry that has been hit hard by massive oversupply. bys he's does show that limiting production, that is having a positive impact and shows signs of progress in terms of bringing that price up and making it more sustainable as an industry. let's talk about transparency as it applies to our president-elect. megan: good luck. be in: donald trump will washington, d.c., and you look at the conflict. is in ahat hotel, it famous building, one of the most prime pieces

i am carol massar. renick.i am oliver the long shadow that may follow president-elect trump for treasury sector. oliver: all that ahead on "bloomberg businessweek". ♪ carol: we are with megan murphy. look at energy, looking at the social cost of carbon, something the obama administration had come up with. is pegged off of looking at donald trump's. put a lot of climate skeptics into the. we looked at how they pegged the social cost of carbon, originally set at 24,000 per metric time and has increased over time. we are tracing the development of that. was an economic estimate of the cost of climate change to society. questioning now is what can donald trump's administration do if they are going to advance policies that would roll back this clean power. what could they actually do? this number is one that many asnomists on both sides see arbitrary, difficult to pay, and something he would not be able to undo, but still underpinning. oliver: another big pic is rex tillerson for secretary of state. , hise po

i am carol massar. oliver: i am oliver renick. carol: ahead in this issue, why it is so difficult to keep contaminated seafood off american dinner plates. plus the long shadow that may , follow president-elect trump trade secretary from the private sector to the public sector. oliver: all that ahead on "bloomberg businessweek". ♪ carol: we are with megan murphy. you guys take a look at energy, looking at the social cost of carbon, something the obama administration had come up with. >> this story is pegged off of looking at donald trump's. cabinet and waging an sort of what they are going to do. he has put a lot of climate change skeptics in his cabinet, and we have gone back and looked at how they pegged the social cost of carbon, which was originally set at 24,000 per metric ton and has increased over time. we are tracing the development of that. what they wanted was an economic estimate of the cost of climate change to society. how you could pegged that. what people are questioning now is what can donald trump's new administrati

carol: i am carol massar. carol: in the markets and finance section, held goldman sachs managed to come out on the trump organization, even as they were targeted on the campaign trail. >> it has been pretty remarkable. the stock is up something like when donald trump won the presidential election. a lot of that has to do with trump's policies and the fact of people think he will roll back regulations on wall street. he has talked about repealing all of dodd-frank. dodd-frank is at least 1000 pages. so it is unlikely all of that will get rolled back, but some of the things that particularly hurt goldman, such as the volcker rule, will be first in line. carol: boulder has to do with hedge funds, investing using banks, a lot of personal money. dakin: voelker is two things. trading,prop limitation on steak and hedge funds and private equity funds. those businesses were big for goldman before the financial crisis, and stakes in hedge funds and private equity funds remains big for goldman. they have roughly 7 billion

carol: and i'm carol massar. the men behind gucci doubling down on being environmentally friendly. oliver: investors are lining up to get behind green infrastructure products. we will tell you about the man behind the trend. carol: also, the company making robot babies. oliver: all of that is ahead on "bloomberg businessweek." ♪ oliver: we are with businessweek editor-in-chief megan murphy to talk about some more important issues in the magazine. must-reads. let's talk about the markets and the finance section which is about litigating in germany. megan: this is quite common across western europe and the difficulty of pushing forward and it goes into the impediment that you face and run that kind of litigation in germany. it is getting consumers and emissions. this guy running this case and trying to generate more money, one of the biggest impediments actually in germany is that the lawyers do not get a cut. so, there is no incentive for them to get this huge slice of the settlement fees. we saw the lawyers take

carol: and i'm carol massar. so listen to us on the radio. am 113.0 in new york. 960 in the bay area. oliver: volkswagen's emissions scandal leads to a reboot of the corporate culture. you chose to start your story with an anecdote that took place several years ago in 2014 in a gaudy setting, paints a picture of what volkswagen used to be like. tell us why you chose to start with that kind of imagery. christoph: yes, the new management that has been put in charge to steer the company through what is effectively the deepest crisis and the company's history is trying to more than just resolve the scandal or fix the cars, pay compensation to car buyers in the u.s. they are also trying to turn the company at the moment, rein in what is pretty much unrivaled and excessive spending compared to pretty much all other automakers, and they are trying to turn and make the company leaner and more flexible, because as you know, the entire auto industry is facing age or dramatic shift towards electric vehicles with features lik

carol: in dime carol massar. i am carol masar.o listen to us on radio on channel 119 on s iriusxm. 99.1 fm in washington, d.c. and am 960 in the bay area. in the markets and finance section, how goldman sachs comes out on top in the incoming donald trump administration even though candidate donald trump targeted the bank on the campaign trail. >> it has been quite remarkable. the stock is up something like 35% since donald trump won the u.s. presidential election. some of that, a lot of that has to do with donald trump's policies and the fact that a lot of people think he will roll back regulations on wall street. he said he talked about , repealing all of dodd-frank. least 10,000 at pages. so, it is unlikely that all of that is going to get rolled back but some things will be first in line. carol: volker has to do with hedge funds and private equities. >> it is a ban on prop trading and the other is a limitation on stakes in hedge funding and private equity funds. they are very big for goldman before the financial crisis and stak

carol: i'm carol massar. niversity of pennsylvania and also the oscars of paper currency. all that is ahead on "bloomberg businessweek." ♪ carol: megan murphy, there are so many must-reads! you guys take a deep dive into the french election. >> this is something that has attracted immense scrutiny worldwide. what is interesting about this is we see this populism theme play out. marine le pen likely to face a runoff with the central right candidate. what is so interesting about this is many know the path of her nationalist policies, picking up a lot of the things that donald trump has been talking about. but in terms of her economic policy, she is trying to tap into that working class, improving labor policies, making sure the 35-hour work week stays. the other candidate is really focused on smaller government, cutting the corporate taxes. that actually goes against a lot among this working-class population. it's a really fascinating thing to see how this global populism is playing out. oliver: what will happen

i am carol massar.bered for billionaires looking to fund a civil suits in secret. oliver: your team wrote about litigation funding and bankrolling court cases. this has been in the news, but i want to start off with history. the first line of your story is that this has been going on since the dark ages. what you think about that? >> litigation funding is nothing new under the sun. it goes back to the dark ages to when nobility wanted to mess with their enemies would underwrite petty lawsuits against people so they could cause trouble. oliver: so a not so petty lawsuit that has taken up a lot of media attention, was peter thiel and gawker. sort of's birth is vertical. tell us what you decided to sort of examine this now. >> not about peter thiel, it was hulk hogan versus gawker, and it took a long time before it became clear that hulk hogan was not himself paying for his lawsuit against gawker. he had filed a privacy lawsuit after they had published a sex tape involving him. it became clear he was not p

carol massar and i spoke to reporter gabrielle. le, you write about israel's most prolific hype man.e man -- who is he? gabrielle: he is many things -- an entrepreneur, a venture capitalist. he is somebody who comes from sort of outside of the elite of the israeli tech scene. he is from the south. he never went to college. and yet, he has had tremendous success in getting tons of money and attention from his ventures. oliver: he sounds like quite a character. as you described him, entrepreneur, hype master. i think that is like a title at character gives himself on seinfeld. it is not really what you think about as a venture capitalist, but he seems to be sought after and doing some of the big deals in israel, which is a huge area. a booming area for entrepreneurs. tell us exactly what he is adding to these businesses. gabrielle: i think what he adds is marketing prowess and he is kind of a rainmaker guy who can bring money and attention . and celebrities. although one of the things i kind of talk about in my piece is that no one ha

i am carol massar. in this special year end double issue, poland offers donald trump a blueprint for how not to drain the socks. >> and how it is sunny for goldman sachs. >> and wick pasadena dwra wants to become the gold standard for diversity in the work place. >> all that ahead on "bloomberg businessweek." [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org >> we are here with the editor in chief, may began murphy. in opening remarks you look at technology. you think about the yahoo hacks and the samsung phones, not such great stories, but overall not a bad year. >> this is going to be one of the seminal pieces setting us up for 2017. we can talk about samsung phones catching on fire, hacks or some of the companies that didn't have a great 2016. but the point made in this article is underneath that we have seen things like uber make advancements in self-driving cars. we have seen technology and computers ability to re

carol: i am carol massar. e oscars of paper currency, all that ahead on "bloomberg businessweek". ♪ carol: megan murphy, there are so many must reads. you take a deep dive into the french election. >> this is something that has attracted immense scrutiny worldwide. pen likely to face a runoff with the central right candidate. path of here nationalist policies picking up a lot of the things that donald trump has been talking about. tap into thatto working class, improving labor policies, making sure the 35 hour per week work week stays. fascinating thing to see how this global populism is playing out. oliver: what will happen to mexicans in the united states who have to send money home if remittances are held back or taxed by the trump administration? story wherereat looking at, this underground economy. of thetrump eight at one centerpieces that he was going to tax or stop remittances. that is a huge deal. that people who are charging $350 per suitcase to send money back, what the article shows is that they are

carol massar and i spoke to dakin campbell.ince donald trump won the u.s. presidential elections. some of that -- a lot of that 's policies,th trump a lot of people thinking he will roll back regulations on wall street. he talked about repealing dodd-frank. that is at least 1000 pages. it is unlikely all of that will get rolled back but some of the that particularly hurt goldman, such as the volcker rule, will certainly be first in line. carol: this has a do with hedge funds, investing banks, using personal money to invest in things like hedge funds and private equity. >> it is two things, a ban on aop trading, and another is limitation on stakes in hedge funds and private equity funds. both businesses were very big for goldman before the financial crisis. in hedge funds and private equity remains big. they still have roughly 700 billion left that they have been working to sell down but have not sold yet. trading, they have been subject to the dan, to -- ban, too. it is not clear how tightly that dan has been enforced in the la

julie: carol massar and cory johnson, thanks. catch more radio interviews on bloomberg.com. a look at the biggest business stories. boeing is shedding more new jobs. cuts will come from a mixture of attrition, leading positions unfilled, voluntary buyouts. -- theyr -- they make may use involuntary layoffs. alex cruz says contingency plans are in place so the flights can operate as normal. urging the united unit to call off the plan to strike. members whostock joined in the last six years. negotiations continue. britain also faces a postal strike over the holidays. stepping on the battle for ,ontrol of a broadcaster divinity says it will lift its take to 30% of share capital. berlusconi is trying to keep control of the media company and today asked italian market the matter.o act in that is the bloomberg business flash. stocks climb on the lme. down 2.6%. on the screen red for copper. this bloomberg. ♪ . . . attention homeowners age sixty-two and older. one reverse mortgage has a great way for you to live a better retirement... it

i am carol massar. iver the long shadow that may follow president-elect trump for treasury sector. oliver: all that ahead on "bloomberg businessweek". ♪ carol:

i'm carol massar. oliver: we will talk about what the future holds for those just starting out. g. businessng your persona. carol: all that ahead on businessweek."

i'm carol massar.al year-end w issue, poland offers donald trump a blueprint for how not to drain the so-called swap. -- the so-called swap. and wikipedia wants to become the gold standard for diversity in the workplace. oliver: all of that is ahead for "bloomberg businessweek." carol: we are here with the editor-in-chief megan murphy.

i am carol massar. oliver: i am oliver renick. ong shadow that may follow president-elect trump for treasury sector. oliver: all that ahead on "bloomberg businessweek." ♪ carol: we are with megan murphy.

i am carol massar. am oliver renick. another disappointing sign in a disputed south china sea. "bloomberg businessweek". ♪ carol: we are with the editor in chief macon murphy of business week. china,

i'm carol massar. oliver: we will talk about what the future holds for those just starting out. a how to build your nest egg. by tweaking your business persona. carol: all that ahead on "bloomberg businessweek." ♪ carol: we are here with the editor-in-chief of bloomberg business week. good to have the issue of new money. what was the special intention?

carol massar and cory johnson, thanks so much.us xm, bloomberg.com, and bloomberg.he apologies, i was looking at the bloomberg rather than at the camera because i was looking for market reaction to this breaking news we have been getting. i'm not seeing any as of yet. we are getting a statement from president obama about the u.s. actions against russia over its hacking activities straight the president says he has issued an executive order, and sanctions 9 entities and individuals. this includes the russian intelligence services, four individual officers of the gru. the state department also shutting down 2 russian compounds in maryland and new york that were used by russian personnel for intelligence related purposes. there are some of the details of sanctions related to russia's hackings. that, we aren to getting comments from a couple senators, including chuck schumer, saying that the incoming donald trump administration shouldn't we can any sanctions that are now being -- weaken any sanctions being put into place. senator mark

you can find his radio show and 40 minutes with carol massar. 2017 poised to be the year of everyday?. ♪ david: another year is coming to a close as we look at the deals. bloomberg gadfly columnist has the top m&a predictions as told through horror scopes. let's begin with aquarius. . will read the lines the year has been unusually challenging. needed a time of year to step aside. you must go out on a high note. >> he is supposed to risk higher in 2018. everything is supposed to be swimmingly. then that successor left the company. now it is like want they do? a huge company, theme park, movie studio, espn, not doing so well lately. i think people are wondering is there another big deal and is it a breakup? would that make it easier to manage disney and find a replacement? that is arecement, difficult. you need someone who is skilled tv networks and theme parks and movie deals. a breakup could be in the near future. david: it seems there is a lot .f attentional for deals part of the family controls the cbs corporation. .t has been a volatile year just last week, we had the end of a tal

cory johnson will be joined by carol massar on bloomberg radio. is said to be open to economic growth -- more on this bloomberg scoop, next. this is bloomberg. ♪ david: this is "bloomberg markets." the president of china is said to have signaled that he is open to economic growth slowing below the government's 6.5% target. in a former editor who oversaw our chinese coverage -- scott, thank you for joining us today. let's start with a momentous ness of this move. scott: you can call it a big deal. it's really just acknowledging reality. most people will say that the chinese economy is going to slow in the next few years. you have a record pace of 6.7% so far for 2016. a lot of people see that going down to 6% in the next couple of years. even further after that. the government has previously said that they want to keep a piece of 6.5% through 2020. everywhere you look, there are concerns about the debt buildup in china comparing that with what happened in japan in the 1980's and 1990's. they don't want that to happen. president xi jinping doesn't w

carol massar and oliver renick spoke to the business behind the mall and the family behind it. n is underway. it has been stalled for a while. financing is not entirely in place will stop they will take billions more to finish. it has taken $2 billion to get to where we are now where people in new jersey no where we are and have been for quite a while, and opening-day is autumn 2018. a step back, because it sounds like third time is the charm. the third of who is trying to retail andga entertainment complex in the meadowlands. it is supposed to be a huge development but it has had a lot of problems. >> it started in 2004. it was called xanadu. it was meant to be, like you say, shopping and entertainment will stop -- shopping and entertainment. the big picture was an indoor ski slope, which you can see from the turnpike. not complete, but you can see the frame for a. that was kind of the main feature, and then the group developing it ran into financial trouble. they walked away from the project. another developer came in. they ran into the recession hit they also had to walk away

carol massar and oliver ran it spoke about generations he. anyone warn after the year 1996. ne younger than that. carol: a group. carol: big group. about $44y have billion in buying power. david: that dollar amount makes them a big target among companies and advertisers. definitely. a lot of people looking at millennials in terms of what they can do and how they can spend their money, but as time goes on, marketing executives are looking at teenagers because they have an i-4 the future in that respect. us to someh leads teenagers who got together and created a consulting firm. guest: these three kids all met up at this cornell business camp for high school kids. one is from california and the new jersey. from they had always been entrepreneurial and that was the starting point. firm? what is this e.est: it is called juv basically it's a consulting agency that focuses on themselves. their whole shtick was why are their teen experts when you can just come directly to teens. there there -- oliver: has always been teenagers. a hard timee having targeting where the startup can rea

thank you so you can hear more from him in about half an hour when he is joined by carol massar for bloombergt, michael lewis on his newest book "the undoing project." that is next. this is bloomberg. ♪ david: from bloomberg world headquarters in new york, i'm david gura. this is "bloomberg markets." let's get the first word news with taylor riggs. >> two democratic senators are plan to block the confirmation of donald trump cpa nominee. sheldon whitehouse and brian schatz plan to leverage corporate concerns about climate other concerns about oklahoma attorney general scott pruitt. he has been critical of the agency he now is cap to lead, even suing the organization. donald trump is back on the road today in ohio to meet with victims of last week's ohio state university attack. he will then take his thank you roadshow to des moines, iowa for his third victory celebration. tomorrow he is holding rallies in baton rouge and grand rapids, michigan. in london, it's the fourth and final day of a supreme court hearing on brexit. the judges are asked to decide who has power to exit. the government sa