caroline hyde for us in london. thank you all for joining us. staying in the auto industry, meg whitman has taken her name out of the running to become the next ceo of uber. in a tweet the ceo said that i am fully committed to hpe. we have a lot of work to do at hpe and i am not going anywhere. uber's ceo will not be meg whitman. this comes on the heels of a report that jeff and melt is on the heels to take over -- is immel is likely tot take over uber. he is said to be on the short list. bloomberg tech is live streaming on twitter. check us out. this is bloomberg. ♪ emily: the indian government will soon be keeping a closer outon instagram to sniff tax cheats. certain next month, prime minister narendra modi felt government will gather information from social sites to see if lavish purchases match declarations. this is as the company grapples with a loading budget deficit. the real estate brokerage saw 30%, with them opening well above the opening price of $15 per share. i spoke to the redfin ceo and asked why now was the right time for redfin

i want to bring in caroline hyde from london.of future coin offerings, and the growth of assets. ours bring in the ceo, guest. brad, you were not surprised. the sec have been eying this up. guest: i do think it is a surprise for anyone paying attention. for decades we have had securities laws developed for the protection of consumers, investors, and also companies. the name itself, an initial coin offering, and ico, sounds like an ipo. i have been fond of saying if it walks like a duck, and talks like a duck, it probably is. now the sec will regulate it like it is a duck. it is good for the industry. caroline: what does it mean if you are in the u.s., looking at doing an initial coin offering, what does it mean for the new information that you have to give your investor base? yout: what it means is, need to have the same kind of thoughtful process that goes through any securities offering. what was happening -- you had over $1 billion raised through initial coin offerings. i think you'll see that slow because there will be discip

emily: that was danny lopez speaking with caroline hyde.up, samsung is closing in on apple's spot is the most profitable business in the world despite turmoil in the company. what is boosting its ascent, next. all episodes of bloomberg technology are live streaming online. this is bloomberg. ♪ ♪ emily: whether the is selling itself to kkr for $2.8 billion with a medical website making itself private. ebmd is the -- wher used by 70 billion users a month. 90. app visits reached million. it may struggle to broaden its appeal beyond women into same user growth. amazon, and/or and facebook continue to see visitor growth challenges in june. samsung has had a rough 12 months, from its exploding smartphones to its heir apparent on trial for corruption. the company has been making positive strides. in his earning reports that enough increases in sales and operating profits field mainly by the memory chip division. that growth is the company closing in on apple's spot is most profitable business in the world. global head of tech coverage traveled to

have caroline hyde from london, david kirkpatrick, ceo of techonomy.ad many tech heavyweights at their annual conference. and eric newcomer. how did this deal go down? in the worksbeen for a while back when travis kalanick and emile michael were still working in operational roles of the company. luber has been negotiating this for a while. i think it was clear they were not going to have the lead position. two to it is basically a one ratio. about $500 million for uber. huber was just behind here. they got a big stake of this negotiated new company. it was a good deal in a market they were not going to win. ofy were losing in excess $115 million. the google ofis russia, they have mail, music, video. why did uber decide to wave the white flag? the taxi was too successful with a two to one ratio for bookings. the taxi was toothey were wille cash to diversify. they may be dependent on search. look at the bloomberg, you can see 3% of revenue is coming from taxis. diversifyrying to themselves away from the 88% they get from search. all of this shows that on

we are going to caroline hyde in london who spoke with a longtime player in augmented reality.? isoline: the longtime player blippar. it is one of your's so-called -- europe's so-called unicorns with the valuation of more than $1 billion. the company is known for its visual discovery apps which boast 65 million active users. it recently launched a facial recognition feature which claims accuracy.e than 95% i recently caught up with the c.o.o., danny lopez, in london. aboutted about asking application for the latest feature. >> it is fun, social. we want people to play around with it and learn from the experience. the key for us is the accuracy of the recognition. ar facial recognition has 99.67 percent accuracy rate. when it is working well, you can take that and use it in a host of sectors. think global banking with facial recognition as a way to transact, building access where there is a camera lens that recognizes you as an employee. ,o many smart networking things trying to for your out who might be relevant to you, having the ability to scan a photograph and get that infor

emily: caroline hyde for us in london. thank you for breaking it down. startups are on pace to see a funding reach a record as block chain related companies dollars.according to a new report, there have been 496 deals globally so far in 2017, raising a total of $8 million, roughly $6 million shy of the yearly record hit two years ago. fivee past three months, new startups hit valuations of over $1 billion. coming up, electronics giant xiaomi gearing up plans in the competitive syntax sector -- fi ntech sector. this is bloomberg. ♪ emily: adobe will stop its flash service at the end of 2020. flashes the separate plug-in tool that in cash -- improves video online. adobe made the change in collaboration with apple, out for that, facebook and other companies, and is encouraging developers that use the service to seek other options. despite increasing regulation of china's financial sector, chinese mobile phone makers xiaomi is pushing into online lender and other financial services. xiaomi's head of consumer lending told stephen engle that china's fintech hi

i am caroline hyde in london.petition in digital speaker assistance is getting more intense. alibaba has unveiled an echo-like device. fellow chinese internet giant tencent and samsung have each prepared to develop their own ai powered speakers. we spoke with mark gurman on the growing artificial intelligence entering -- intelligence landscape entering your home. >> only for the first trial, 1000 orders, i'm curious to see how high the price goes, or even if there will be more than 1000 people rushing to buy it. i am assuming there will be given how big alibaba's spread is across asia. this year, 2017, has become the year of the digital speaker. >> and everyone wants in. sampson wants in. tencent wants in. why are we seeing this drive? what do the companies want in their ecosystem? >> use saw amazon and google jump in last year with update to the echo line. lots of new alexa devices. like the tap, dot, and the new echo show has the screen and the echo look as well. it's more of a style guide for your wardrobe. app

i spoke with caroline hyde out of london and started by asking about the outlook for tesla filling allrders. take a listen. caroline: key question. half a billion means everyone pay $1000. car is do not about this the ramp up is enormous. carr, elon musk has his that rolled off this weekend. huge --edition is ambition is huge. they have to deliver 30 in july for a special party on july 28. they want to be hitting numbers such as $20,000 -- 20,000 cars by december. the amount of cars they want to make an 2018 will be more than were made in terms of electric vehicles worldwide by any automaker in 2016. the key is, can they deliver? because there certainly demand. emily: elon musk has said and -- set an aggressive production schedule. is he setting the bar too high? caroline: i think this is why we are seeing a tumbling in the market capitalization. we are seeing queries from analysts whether they can achieve the ramp up at this pace. they will be creating more electric vehicles and 2018 than the entire globe in 2016. bloomberg intelligence does think tesla can be the winner with rapid de

i am caroline hyde, in for emily chang. retail hiring increased by 8100 in june.ng recovery from just a few months ago when the sector shed 30,000 positions in march. the industry has been hard hit ,y the so-called amazon effect the shift from brick-and-mortar to less labor-intensive online sales. samsung has had troubles of late, from exploding smartphones to the heir apparent on trial. he reported its best -- it reported its best quarterly profit effort. since on's revenue -- samsung's revenue the estimates as well. returned and attended one of the trials. still with us, my guest cohost, david kirkpatrick. you have great insight for us. the silver lining for samsung, the numbers. in particular, your area of expertise, chips really are flying. phones, itcare about is only the memory chips that matter. that is really what is going on. that is the heart of samsung as it became a modern, successful company and it is a success that has continued to this day. it has been brutal competing against samsung in the memory chip industry. basically everyone has given up apar

i am caroline hyde in for emily chang.push into the world of business travel putting the company in more direct competition with hotel chains. we send it out now to erik schatzker who is standing by with airbnb's global head of business travel. >> thanks very much. i'm here with david holyoke from airbnb for business. good to see you. announcer: the corporate lodging market is enormous, hundreds of billions of dollars. help us understand where this fits into airbnb's business strategy now. what percentage of airbnb's revenue does it account for? if you are successful, how much could account for two or three years from now? >> today, it is 15% of our trips. that's how we look at it. by 2020, we expect it will be about 30% of our business. >> with airbnb presumably growing at that pace, it will be vastly larger. >> we will grow at a 4x clip and keep that trajectory for the next few years. as the core business is growing, that is our challenge to continue to keep up with that pace. >> last week, you signed a partnership with

we have caroline hyde from london, david kirkpatrick, ceo of techonomy.hey have had many tech heavyweights at their annual conference. and our bloomberg tech reporter eric newcomer. , how did this deal go down? eric: it has been in the works for a while back when travis kalanick and emile michael were still working in operational roles of the company. uber has been negotiating this for a while. i think it was clear they were not going to have the lead position. i think it is basically a two to one ratio. imagine a revenue run rate of $1 billion for yandex taxi and $500 million for uber. uber was just behind here. they got a big stake of this negotiated new company. it was a good deal in a market they were not going to win. they were losing in excess of $150 million. emily: yandex is the google of russia, they have mail, music, video. why did uber decide to wave the white flag? caroline: the taxi was too successful with a two to one ratio for bookings. they were willing to slash the cash to diversify. it is like the google, they are mainly dependent on sea

emily: caroline hyde in london for us. caroline, thank you so much.e're continuing to follow these headlines out of the congressional budget office. talking about just how much repealing obama care would cost, the house bill would impact improve the deficit, reduce the deficit by $473 billion by 2026. we'll get more reaction from washington next. this is bloomberg. ♪ emily: a stock we are watching, shares of i.b.m. tumbling 4% in wednesday trading hitting a three-month low making it the worst performer on president dow, after second-quarter revenue missed estimates, failed at his technology services and platform services fell by just over 5%. monitoring some breaking news out of washington, the congressional budget office issued a statement estimating the obama care repeal reconciliation act saving the health bill would reduce deficits by $473 billion by 2020 and the number of uninsured would rise to 32 million people by 2026. joining us from washington. kevin whitelaw, what do we know? kevin: this is an estimate of the straight repeal, the delayed st

. ♪ caroline: i'm caroline hyde from london, in for emily chang. this is "bloomberg technology."oming up, a change in ownership. we will analyze a u.s. rival's deal. plus, alibaba enters the ring as the fight to dominate the smart speaker market intensifies. how it stacks up against its rivals. just as tesla's model-3 prepares to hit the road, a speed bump for the electric car giant. while tesla's sales shifted down a gear. first, a massive deal in the digital payments ace -- payment space. this comes after j.p. morgan showed interest, but ultimately backed away from the takeover offer. they hope to gain greater exposure to e-commerce retailers and small businesses through the acquisition. for more, we are joined by bloomberg's editor at large, cory johnson. with me for the hour as guest host is martin mignot. now, i want to kick off with cory first. give us the background of this deal. big exposure to e-commerce, bigger exposure to small business. cory: why is it based out of cincinnati for a global payments business? it is a spinoff from fifth third bank, which tells you the hi

. ♪ emily: -- caroline: i'm caroline hyde from london in for emily chang.his is "bloomberg technology." up, big blue's for ibm. revenue dropped for the 23rd straight quarter. we break down their losing streak as investors lose patience. plus, the annual meeting of the minds as leaders in tech converge on colorado to share ideas on cybersecurity, ai, and the future of work. we are lives in aspen. reruns that digital eyewear with a new focus. we get an upgrade to the google glass and how the corporate version resonates with users. first to our lead, it is a hit and a miss for ibm. while earnings for shares are dropping after-hours after the tech giant came out with revenues that fell short. sales in the cloud platforms, as a key new area, but declined. its the 21st consecutive quarter that sales declined year-over-year. is our us from new york bloomberg intelligence reporter. this is painful when you are digging into revenue, because you are seeing year upon year of negative revenue. -5% in the second quarter. we can't see growth all the way out until 2018. t

caroline hyde will be speaking with a special guest. caroline: this week is fintech week in london.stem is alive and well. a new funding round was announced today for resolute. it has $66 million to fund international expansion and a move to crypto currency. ceo of funding circle, the number one online lender, one of the u.k.'s so-called unicorns. samir is joining us live from san francisco. i want to start with the fact you have scaled. you have headquarters in berlin and san francisco. how is the u.s. business going? samir: it's going really well. if you look at our business, we started in the u.k. in 2010 and we launched in the u.s. in 2013. we've been really pleased with the progress. around 30% of our business globally now is actually from overseas markets, not from the u.k., and those are growing at a much faster rate than the u.k.. we have been really pleased with the progress today. we have entered germany and the netherlands as well. we would like to keep adding more and more international markets over time. caroline: europe, done. u.s. on the agenda. what about asia? well,

caroline hyde sat down with a key investor in the space. tell us what you got. caroline: thank you. a chance to sit down with rob moffat, partner at the largest series a focused company. it announced a $66 million funding round this week to help expand geographically but also push into cryptocurrencies. before delving into the world of blockchain, i started by asking where he was finding opportunities to invest. take a listen. >> we have seen a lot of activity around lending. the first peer-to-peer lender. that was the first area we feel is great growth. the second is around reforms of doing digital banking. $66 billion raised this week. they do foreign-exchange for people traveling abroad for financial needs and become this real hub for financial needs. that has been quite a growth from zero to 700,000 users over two years. it is extraordinary to see that growth in financial services. caroline: what about the cryptocurrency in general? we have had volatility this week. how does this continue to grow or not? >> we are looking for half we will build real businesses. i think ethereum

let's go to caroline hyde in london who has an update on the negotiations. is fascinating, the tussle was who was more important than whom. and it is known that the u.s. could take the lead when it comes to hard cases at the negotiating table, because the u.k. is dependent on trying to get trade deals in and around themselves as they exit the e.u. this is big money and big jobs we are talking. notably, it is important to the u.s. 700,000 jobs are supported in the united states by trade with the u.k. that's what the u.k. government is saying. check out this function on bloomberg. . you can see who is the number two trading partner in the united kingdom. it is the united states. looking at trade done over the years, 2016. maybe that you for your coming from donald trump and his tweets signaling how it could be better. $50 billion better? that could be added between that trade in the two countries. it is not going to be easy to achieve. emily: interestingly, despite brexit contends that concerns, u.s. companies have been keen to show commitment to the u.k.

we are going to caroline hyde in london, who spoke with a longtime player in augmented reality. caroline: thank you. yes, the longtime player is blippar. it is one of europe's so-called unicorns. it has a reported valuation in excess of $1 billion. the company is known for its visual discovery apps, which boast 65 million active users. though it's active user base might be a bit smaller than that. it recently launched a facial recognition feature which claims more than 95% accuracy. it can already recognize 377,000 public figures. i recently caught up with the c.o.o., danny lopez, in london. i started about asking about application for the latest feature. take a listen. recognition is fun, social. we want people to play around with it and learn from the experience. the key for us is the accuracy of the recognition. our facial recognition has a 99.67% accuracy rate. that's what we want to make sure is working, and when it is working well, you can take that and use it in a host of sectors. think global banking with facial recognition as a way to transact. think building access wher

for more, let's bring in caroline hyde in london. caroline: thank you.now joined by a man with the founding team of ethereum. it's on the second-most popular crypto currency after bitcoin. he has now founded another cryptocurrency startup, iohk. wonderful to have you passing through london. today, the news is bitcoin rallied yesterday. it looks like the developers are backing the development. is it good that it's not going to split? >> it's great. it shows the resilience of things. we took it down to the wire, but it looks like it is healthy and its future is bright. caroline: the future is bright for bitcoin. talk about the landscape. initial coin offerings going through the roof. numbers are phenomenal. 700 to 800 cryptocurrencies exist. than in 2013, now more 800. ico's are up six times in the last year. you say this is a ticking time bomb. why? >> the fundamental problem with ipo's is they are magical because they create liquidity and allow people who have never been able to raise capital before to do so, they have caused some people to forget the ba

out to caroline hyde in london for more. caroline: the french sound company is devialet.d by investors including music mogul jay-z, not to mention trump's current favorite foxconn. in an exclusive interview, the ceo of devialet explained the partnership with sky, what's unique about the new sky sound box they are developing, and where next with the new technology. >> we have developed new technology in sound. --consider that we have to the displays are beautiful. the sound is ugly when you are watching tv. we have to provide to the people a new device that is able to feed that program and to deliver real emotion to the people. caroline: a new device that is going to be affordable? some of the production you have made so far, the phantom, the speakers are incredibly high while -- high-quality and relatively high price point, too. >> yes. our strategy is to be able to develop devialet products, to develop our stores, and to put in the market very sophisticated products with devialet design and, at the same time, we want to put our technology in any device that is able to pr

emily: that was blippar coo danny lopez speaking with caroline hyde., samsung is closing in on apple's spot as the most profitable business in the world despite turmoil in the company. we will dive into what is boosting its ascent, next. all episodes of bloomberg technology are live streaming on twitter. check us out. this is bloomberg. ♪ emily: webmd the is selling itself to kkr for $2.8 billion with the medical website making itself private. webmd is used by 70 million consumers a month. con score has its monthly internet usage data. snapchat u.s. app visits reached 90 million. pinterest may struggle to broaden its appeal beyond women to sustain user growth. amazon and pandora and facebook continue to see visitor growth challenges in june. samsung has had a rough 12 months, from its exploding smartphones to its heir apparent on trial for corruption. the company has been making positive strides. in the most recent earnings report, it announced increases in sales and operating profits fueled mainly by the memory chip division. that growth has the compa

caroline: i'm caroline hyde in london in for emily chang. this is "bloomberg technology." coming up, the bloodbath at microsoft as the software giant thes its full attention to clouds. while thousands of employees are out of work. plus, the investors banking on britain to keep its title and bragging rights of europe's leading tech hub. are pumping billions into london's technology sector despite brexit. in battle -- the co-founder resignation and downward spiral or the chinese tycoon's plea for more time to reap high and his focused on electric cars. to our lead. a major reshuffling going on at microsoft. the tech giant confirmed it is cutting thousands of jobs. the number of jobs ranges from 3000-5 thousand and most of those jobs in sales and outside the u.s. that is out of the companies 000 person workforce are the move is part of the company's reorganization to better focus on cap -- selling close suffer. allokesperson told us "like companies, we evaluate our business on a regular basis. this can result in increased investment in some places and from time to time redepl

emily: that was caroline hyde and a cory johnson.he fortune brainstorm tech conference was in aspen this week. a big topic was the state of cybersecurity. as major hack attacks continue to rise throughout the world. i spoke with someone with expert knowledge, former director of the nsa keith alexander. he is now at the helm of iron net cybersecurity. i asked him about the boldness of russian hackers in the u.s. election. keith: it's not just that it's blatant, but we're not prepared to defend. if you left a bag of money on a park bench and then you were surprised that somebody stole it, you would say secure your money. where i think that gets us is secure your network. we should not be pummeled with these. we've got to make these changes in cybersecurity. it can't be done by industry itself. it has to be an industry-government partnership. i think this is an area that the trump administration has taken on. it's important that government and industry work together for a defensive architecture that can block these kinds of things in th

♪ caroline: i'm caroline hyde from london in for emily chang. this is "bloomberg technology."oming up, the second half of the markets caps off good we will continue to see volatility? plus, after google was slapped with a fine from the antitrust regulators. could facebook be next? officials are now looking into the world's biggest social network collecting information from its users. tesla's model 30 must ready to hit the road. will this car in the perfecting the auto industry? now to our lead. it was a global rally monday in equities. you do have to take into account low trading volume in the u.s. the trend is still clear with tech stocks failing to join this risk on mood. june sold the nasdaq and tech benchmark snap a seven-month winning streak. is this a short-term or long-term trend for tech. let's ask our guests today. wonderful to have you both with me. i want to start with james in new york. doubt at a record today. nasdaq is lower. volatility is low. i'm going to quickly show you a chart i have on the bloomberg, btv 859, volatility has continue to elevate itself within

i'm caroline hyde in for emily chang. google glass is making a comeback., it is eyeing a different type of consumer. after noting its popularity in factories and other large businesses, the tech giant changed its focus for the smart glasses which are now , officially named the google glass enterprise edition. the product is available in a network of google partners like boeing and dhl. we are joined by our guest who covers alphabet. fascinating. it's about the enterprise. reporter: it is pretty consistent with the direction google has been going. they have been divesting from moon shots and expensive projects, and they go to partnerships or stakes in companies. also, the cloud computing and going green has been a huge focus for the company. from what i can understand google glass is still part of , the research lab, but the sales strategy will go through the cloud team. caroline: this has been going on quietly for a couple of years. they have been using this in businesses already. reporter: right. google is finally talking about it. they have been having m

caroline hyde for us in london. thanks caroline.urity concerns continue to take center stage. we will talk to the ceo of flashpoint to see what the firm is doing to prevent future attacks. this is bloomberg. ♪ emily: earlier today, christopher wray, president trump's pick to lead the fbi, faced the senate judiciary committee. wray was asked about his thoughts on the ongoing debate over the battle of encryption versus privacy. take a listen. mr. wray: i do know that we are going to have to, as a society, both the fbi, the justice department, this committee and others, industry, our foreign partners -- we are going to have to find solutions to these problems, because the role of technology is overtaking us all. i'm committed to work with everyone to find a solution. emily: sticking with the fbi, one former consultant to the fbi's senior management team is now the ceo of the cybersecurity firm flashpoint. josh lefkowitz executes the company's strategic vision to empower organizations with business risk intelligence derived from the dee

. ♪ caroline: i'm caroline hyde in for emily chang. this is "bloomberg technology."oming up, the bloodbath at microsoft as the software giant turns its full attention to the cloud. why thousands of employees are out of work. and, the rush to get sales staff up to speed. plus, the investors banking on britain to keep its title and bragging rights of europe's leading tech hub. why vc's are pumping billions into london's technology sector despite brexit. and, a cofounders resignation and the downward spiral. the chinese tycoon's plea for more time to repay debt and his focus on electric cars. first to our lead. a major reshuffling going on at microsoft. the tech giant confirmed it is cutting thousands of jobs. the number of jobs to be cut range anywhere from 3000-5000, and most of those jobs in sales and outside the u.s. that is out of the company's over 121,000 person workforce. the move is part of the company's reorganization to better focus on selling cloud software. a spokesperson told us "like all companies, we evaluate our business on a regular basis. this can res

let's go to caroline hyde in london. on, the: the launch is fight back, someone desperate to appeal to the population after losing her majority and her respectability and calling for rival parties to contribute and not just criticized. we have not had much new coming from her. a lot of this was leaked to the press yesterday and today. we are seeing how this all fits into the focus with theresa may and whether she can work with the labour party in particular. we will be looking to talk about that with our brexit team here at bloomberg. we also have great guests coming up. david: thank you very much. let's get caught up on the markets. alix: here is where we stacked up. equities have gone nowhere. volume in europe is pitiful at the moment. i am looking at cable, not necessarily on theresa may's speech, but the chief economist at the boe will talk about where he comes down on the hawks vers us doves side. selling on the margin coming down on the board. crude goes down, 0.8%. there is a risk of oil below 40 if opec does not

caroline hyde will be with us. coming up, we'll continue to wrap up the g20 headlines, marcus nolan, this is bloomberg. alix: pragmatism that was the message this weekend. peter pratt seeing we will need period of policy and then of france governor talking about the importance of stimulus. saying fall will be the next announced. changes just mentioned, we had negative inflation bit more than one year ago. in 2016, 0.2%. year, average inflation 1.5%. prices.tly due to but also the progress of implementation of our community of monetary policy gives results. but we are not yet there. alix: still with us is peter rbc capitalom markets and aaron kohli doctor b -- bmo. that mean? >> i think what the acb absolutely clear about, policies is working as we heard. nearhe economy is nowhere producing inflation in the near term. or the medium term. acb is absolutely convinced they have to stay accommodated. they are constrain much more constrained bank of england and fed. some adjustments would have to come there. the design o

plan,n the production this is caroline hyde. musk has got his hands on the first one. we don't know that much about the specifications. we have glorious photos from twitter over the weekend. what we do know is you will go to 60 miles per hour. we know the single charge will take you 215 miles. it's a smaller vehicle from the model s and the suv. what everyone needs to know is how on earth they get the target. they are going to produce 30 this month or in -- month. there will be a big fanfare party. then all the way to december, we will start to see 20,000 cars per month. how do they make this leap all the way to 660 cars per day? they have to gear up for next year. about the same amount of electric vehicles as the entire world. this is the thing they specialize in. vonnie: if you do one thing, you will eventually do it really well. high he has set the bar so and people are happy with the cars. cars making the original simple. caroline: they do not want to see the same debacle that happened with the model s, where they had problems with some of wings that were able to av

kicking things off is caroline hyde in london. with what i got headline you've been reading. the "wall street journal," the back to the dot-com era. stock praises. s&p 500 is major technology chart. out in the white line. we're now 992. we are not seen that level since back in march of 2000. does this mean we're at the heights of that dot-com era? fear not, check out the evaluation. we are currently on the blue line. nowhere near the heavy height back in the year of 2000. we saw evaluation to the tune of price earning 73. are still just 19. high.x is pretty expectation.nings vonnie: you can see her chart on bloomberg. is a great chart. mine isn't too bad either. it's a simple chart. the yellow line is the price of wti per barrel. theblue line, that's supplies of wti. you can see as the supply is coming down as we've been noticing. the price is going up. it's very simple. what will saudi arabia do what will ecuador do. revealed.e 13.can see the chart 60 and nejra: i like simple. your chart is great. time i'm going to go with caroli

london caroline hyde in for us. caroline, thank you so much.e're continuing to follow these of the s out congressional budget office. alking about just how much repealing obama care would cost, the house bill would impact reduce the deficit, deficit by $473 billion by 2026. reaction from washington next. this is bloomberg. ♪ emily: a stock we are watching, shares of i.b.m. tumbling 4% in trading hitting a three-month low making it the worst performer on president second-quarter revenue missed estimates, failed his technology services and platform services fell by just over 5%. breaking news out of washington, the congressional budget office estimating tement the obama care repeal the ciliation act saving health bill would reduce 2020cits by $473 billion by and the number of uninsured ould rise to 32 million people by 2026. joining us from washington. we know?telaw, what do kevin: this is an estimate of the straight repeal, the delayed straight repeal bill that at this point senate republicans voting on next week. everything is very in flux afte

let's bring in caroline hyde. h facebook, you have reason to celebrate today, record high. caroline: this company is unstoppable. it's got scale, growth, and profitability. 2 billion, the number is mind-boggling. they have the same growth as 17% in daily active users. 3 billion checking their facebook account every single day. revenue, up 45% and earnings per share up 69%. the growth drivers are very evident. instagram will be helping, videos will be helping, but they will start monetizing significantly the likes of messenger and whatsapp. there is firing on all furnaces. this company has 41 buys. vonnie: twitter is a different story -- mark: twitter is a different story. andmonthly users are stuck it is heavily reflected in the stock prices. caroline: while jpmorgan says facebook has profitability and scale, these other three things that twitter does not have right now. it is not profitable and the growth is lackluster. there was no growth in terms of monthly active users quarter on quarter. u.s.have lost users in

for more, let's bring in bloomberg's caroline hyde. the stock was down 5%. so bad now. so bad, but it did hit a record low once again. the driving pressure is there. j.p. morgan estimates as much as 400 million shares could suddenly become available in the free flow. before, they were restricted because they were initial investors. finally, they are able to cash in. not great prices right now, but still able to exert the selling pressure. more shares in the market me more supplies means downward pressure on the price. you have a number of these lockups expiring throughout august. notably, august is when the also get the numbers and results people are looking at. this is a company that seems to be, at the moment, have plenty of concerns out there, whether investors worried about the shares coming into the market, but the user growth concerns. mark: august 10 come a big day. caroline: it is second-quarter results in all eyes are on how they can manage the ongoing pressure from instagram, which just continues to copy many of its playbook. it seems to be doing it very well.

caroline hyde is here. completely disastrous quarter when you are looking at it.saying, i don't want to be on your youtube and to you make it say because i'm worried about being associated with it. but revenue up 19%. we have seen analysts bring down overall earnings. -30% or so. -- 30% or so. more people plow money into that area. but the cloud business continues to grow. they have been pushing in that area. google play has been doing very well as other areas like the hardware aspect. this is a company that continues to shine on. what is interesting is we could see more growth in mobile. -- 7% of their revenue was mobile. vonnie: still concerns about the repertory issues. fines can google still be on the hook for? caroline: that is the question that many analysts will be getting on the phone with the cfo later today and ask. what happened with the e.u., the record-breaking fine of two -- 2.8 billion eurozone. this fine was targeted. shopping feature that they want to change. there will be questions about how they are going to change it. the e.u. left in google's

fed,right here is not the it is asia, europe, and of course, the fed as well and you time, caroline hyde>> in the house. and what a joy. i have my tech geek hat on. i am going to be showing you what tesla has been up to. yes, they just scored the bid to provide the biggest battery storage in the world, going to australia, but it has that helped to power those shares above the 50-day moving average. check this chart out. soaretesla shares have d. that they have fallen this week. $12 billion of their previous record in terms of market capitalization. we are talking $8 billion eroded from them in the past week alone. concerns about competition. volvo talking about electric cars. volkswagen saying we can take on tesla. you also have concerns about the plateauing of the model x, model f. the more margin rich cars that are currently in the remit of tesla. everything is moving ahead of the model three, the more affordable car, said to be rolling off the line july 28. dani's chart so much, i showed it in this morning on surveillance. but you know the tradition. it has to be caroline today. dani.