. ♪ caroline hyde: i am caroline hyde from paris. vonnie: and here is taylor riggs.r: joining -- join me today is the strategist over it morgan stanley. it is great to have you. we have talked a lot about could be from a credit perspective and some could be from an interest-rate perspective what are you more worried about? >> thanks for having me on it we are more interested in interest rates right now. market with a credit problem. the market is more or less a rates market. they tend to react with return and volatility and interest rates. a moment this year where it is driven by low volatility and flatter curves and what if it goes the other way? it is not our view but we are mining things like this statement to see if it will run a little hot. curve, we think that could lead to an underperformance. >> we talk about the yield curve and you talk about how you are to ration usual at this point. can you walk me through the trade? >> you are supposed to let bonds be bonds. the acid eloquent -- allocation framework, they are supposed to get you carrying come. they cannot

caroline hyde is in london. she has been digging deeper and listening in on the call. are you seeing? caroline: he really is talking up the power of the iphone x. it sent shivers down many suppliers spines as the numbers do not live up to expectations, but it is a standout product and a bestseller. have a listen to what he said. >> customers chose iphone x more than any other iphone each week in the march quarter just as they did following its launch in the december quarter. since we split the line with the launch of iphone 6 and six plus in 2014, this is the first cycle in which the top-of-the-line iphone model has also been the most popular. caroline: talking up the iphone x, talking up wearables saying this is as a unit the size of a fortune 300 company, talking of this hot runaway success of the earphones that we all have been using, talking up the services side of the business as it sees a 31% increase in growth. that is pretty significant when you are seeing that is a ramping up of the area. i also want to point out the shares have been rallying because of the re

emily: caroline hyde for us in london.onitoring those headlines throughout the hour. that does it for this edition of bloomberg technology, live from the milken institute global conference. we will continue our coverage of earnings. tesla on tap. we will be back tomorrow. this is bloomberg. ♪ ♪ >> apple pops after hours on what is described as is a sensational quarter. >> that prompted analyst concerns. iphone sales also held up and forecast beat expectations. >> mark zuckerberg strikes an optimistic note after weeks of fake news and data misuse. facebook is planning a dating game. >> a disappointing message from snapchat. shares tumbling as shares

i'mline: live from paris, caroline hyde with the european close a minute away.nie: it is time for the latest bloomberg business flash. the latest stories in the news now. target investments took a beating as amazon -- initiatives to drive online sales squeezing target's profit margins. the online store -- digital revenue growth gains. away at tiffany's blew estimates and the last quarter, led by gains in north america and asia. the profit forecast for the year, announced at $1 billion a share. that is your bloomberg business flash for this hour. we are just a few minutes away from the market close in europe. a look at how stocks are performing, it has been the worst trading day in a few months. ftse is lower, the miners underperforming. dax has beenmany, the underperformer. germany's growth has been less than expected, a slower pace. clearly a concern, keeping a close eye on the banks as well. ♪ our phones are more than just phones. they're pocket-sized personal trainers. last-minute gift finders. and discoverers of new places. it's the internet in your hand. th

joining us from london, caroline hyde. they continue to say it did nothing wrong. caroline: precisely. it says due to the siege of media focus, which we are adding to, it drove away their clients. they stand by the fact they did nothing illegal. they were accused of improperly gathering data on 87 million people and they said we have not done anything illegal. we have confidence in our employees, that they acted lawfully. as you say, they say they are vilified. this is notable they are therefore commencing in solvency -- in solvency proceedings. they are no longer viable. emily: are they facing potential criminal charges? they are, if they have done something illegal. information the commission office is investigating. they got a warrant to see how they managed to acquire the personal data of 87 million people. did they do it in a wrong fashion? did they do it illegally? the ico does have the power to bring them in for questioning. potential foris legal ramifications, if they are seen to have done wrong. counsel,hire a queen's that is a very high lawyer in the u.k.,

we are joined by caroline hyde and alex.ortune 500 companies are spending almost a billion dollars to become compliant. to become$8 billion compliant. what are they doing? alex: it is about creating new terms and conditions. all residents have to agree -- of the european union have to agree to make sure that they are complying. they will have a large -- have alerts constantly from facebook and twitter and snapchat asking to agree to the new terms and conditions. the thing about them is that it is a huge list of impenetrable legalese. they are massaging the way they use that data. it is a huge legal challenge for these companies. emily: if i'm a facebook user, how does this change how facebook handles my data? >> it doesn't change the way it handles the data. it makes them more transparent. it has to explicitly say what they're using it for. i have to say that i no longer want my data on facebook. you have the right to be forgotten. it is really about making it clear, digestible about what it is your data is now used for. i t

caroline: in london, i'm caroline hyde.ebook ceo mark zuckerberg faces another legislature today and it is in brussels. he testifies before the european parliament for over an hour today. he wants to tell them how cambridge analytica acquired the date of millions of citizens. let's bring in a bloomberg opinion columnist. this is going to be quite a different environment than what occurred in the united states. are we going to get tougher questioning? it is fewer people and perhaps deeper knowledge. >> there is fewer people, and also less time. heads of theey parties, not necessarily the specialist. from what i understand it will not be a hard deadline for each person. in the senate you have five minutes, the house of representatives you had four minutes. it is per person, which means it is very easy filibuster. i think they won't be able to hold him slightly more to account, similar -- they will be able to hold him slightly more to come, similar to the house of commons. caroline: and the cto -- alex: that was the cto, not t

i am caroline hyde in london. vonnie: from new york, i am vonnie quinn. line: now it's that time, the muni moment with taylor riggs. taylor. taylor: hey, caroline, and ofning me today is the ceo muni at invesco. the rates just hit a 10-year high recently. you find is attractive in the rising interest-rate environment? >> thanks, taylor, good to be here. the fed is normalized on the short end of the yield curve -- the same thing for the municipal bond market. these variable rates and demand notes reset on a weekly basis. it is very good on a short-term strategy. some of the shorter and the duration funds are using the strategy because the price is very stable and the rights move up as the fed moves up. the flipside of that is the closing funds issued these of the cost of borrowing is going out very slowly. i could put pressure on dividends -- that could put pressure on dividends. for the short strategies we like the variable rates. taylor: another thing we saw this week was detroit. -- what was happening since the exited bankruptcy. i'm not sure detroit is

this is bloomberg. ♪ caroline: live from london, i'm caroline hyde. in new york, i'm vonnie quinn. this is "bloomberg markets." now to long short equity from where returns to say the least have been challenged. gavin walt disney head of americas of america's alternative investment strategy team at aberdeen standard investment. bloombergited to have hedge funds and investing reporter for the conversation. >> thanks for having me come thanks for joining -- we wrote a story a couple months ago about the branding of hedge funds. your unit hasn't always been called the alternative investment strategies unit. be called hedge fund solutions. could he talk about the name change? darren: we are invested in diversifying and strategies for 20 years and it has become increasingly challenging to categorize hedge funds. first, individual hedge fund strategies, avid equity, hedge funds to private quie credit. it is difficult and the lines between different strategies are blurring. we as a hedge fund team invest in reinsurance strategies, alternative credit, strategi

caroline hyde. welcome to "bloomberg markets." ♪ vonnie: we will be covering tesla passes chat with james abele dean. why he is still overweight on the stock. we also get insight on global credit markets from the capital management ceo. but first, breaking u.s. economic data yesterday. here is julie hyman. >> earlier in the week, it came in worse than expected. it looks like the nonmanufacturing deposit 56.88 april. -- a worse than the 58 four-month low. interestingly enough, in that 56.8, it is aort, four-month low. the lowest in the year. we got factory orders in the past few moments. that is better than estimated. already, we had stocks trading lower this morning. the treasury department, including treasury secretary mnuchin traveling to china to negotiate over the trade disputes between the u.s. and china. waiting for that. we have this uncertainty hanging over the market. all three major averages are down. the dow is down for a fifth straight session. the s&p 500 is declining yesterday after we

in london, we have bloomberg's caroline hyde with more. caroline: thank you very much.ey focus of the company that has been looking at this particular token frenzy report is james smith, cofounder of crypto interventions -- crypto intelligence. the report says the 90% correction flushing out most of the company. do you agree? >> i do not agree. there have been many productions, and someone is going to be right. what we saw at the beginning of this year was a correction from the highs crypto hit toward the end of 2017, with probably something like a 75% correction. that getsws a pattern carried multiple times through the history of bitcoin. crash,e periods after a we often see consolidation and a great rebuilding for the industry. there may be a correction to occur, but i doubt we will see a 90% hit from this point. caroline: so correction aside, we are still seeing money come into the area, whether initial coin offerings, or getting into blockchain companies. interestingly in europe, vc funding has been going up 75% in the last couple years. are you noticing the differe

on monday, caroline hyde previewed what would be a big week for paris and tech. ♪ caroline: french presidentmacron is looking to become the go-to head of state for global tech. this week he is hosting the heads of google, microsoft, and other notable firms at the presidential palace. the meetings will be followed by the visa technology summit that could signal a big shift for the country. for years, the french tech scene has operated in the shadow of the rest of the world, but macron is capitalizing on a void left by president trump's well complicated relationship with global tech. france has had only three startups achieve unicorn status, compared to 22 in the u.k., and 105 in the u.s. but recently, the paris tech industry is reinventing itself. there were a record 743 tech two years in 2017, growing by -- tech tiers in 2017, growing by 45% from 2016, and the total value of the deals jumped 50% from last year. meanwhile, the country is hoping to jumpstart innovation and investment with its biggest to date. 13th section of the city, it is the world's largest startup incubator. the property o

emily: for more on gdpr, let's it straight to europe where caroline hyde is standing by. roline: now, it has taken effect. gentlemen, welcome. starting with you, 18 months they had to get it in place but still we understand some businesses are not yet lanford what are the challenges? >> it's two years they have had to get ready for the challenges are that the regulations have been written in a principle-based manner. there are no clear guidelines. there are principles that need to be adopted by businesses. that means there is an enormous amount of sensibility. caroline: flex ability and interpretation. let's get the interpretation of a lawyer. a lot of these companies we are hearing about our global in nature, but this is block in regulation. it is the eu so how does one company go around navigating that? do they make policy for the eu or does it make things more complicated? >> you're absolutely right. this is a global question because data privacy is on the agenda internationally. we are seeing clients look to do and raise the bar to a certain level like data security so

she joins us in london, as well as caroline hyde.f all, the suits filed by austrian privacy activists saying what google and facebook have done to complaint don't go far enough. do you think the case holds water? >> the introduction of gdp are gdpr is making a change in the way society looks at technology, it is time to regain the trust between technology and society. se things are explaining how much society is looking for clarity in the use of data. it isange will come, but time to rethink technology in a more responsible way so that individuals will regain control of the data and more trust in the way companies use their data. have you had to change the business model at ibm to make sure you are complying? cristina: we in 100 years have developed stronger security. it is a matter of adjusting what we had. we had very strong practices on security and privacy good at this income, we want to look at gdpr or as an opportunity than a challenge. of course you need to comply, that is a challenge in itself judy it is cost -- itself. it is

i am caroline hyde in london. vonnie: and i am vonnie quinn.t is time for our weekly moment segment. julie: it is all about infrastructure. it is our topic did you are. joining miss -- joining me to talk about this is marcia van wagner. -- why are they more burdened? marcia: local governments are facing the expense of nature of this plan. governments to identify new revenue streams which is difficult for local governments to do and then the feds are only putting in 20% of the project cost which contrasts with the current highway program where the feds put in 80%. those things make it very expensive for local governments to participate and they have a hard time raising taxes and they may not have control over those things. on top of that, local government and state government are experiencing low revenue growth by historical standards and they have rising expenses -- expenses for medicaid and pensions. julie: especially with those pension costs we have talked about. -- report also talked about raised. what is the outlook? marcia: it is important

this is bloomberg. ♪ caroline: live from london, i'm caroline hyde. : in new york, i am vonnie quinn. this is "bloomberg markets." caroline: the milking institute global conference is in full swing in beverly hills, california. let's go to erik schatzker standing by with a key voice in multi-asset investment management. erik: thank you so much. i'm here with paul hamill, the head of fixed income at citadel securities from one of the largest firms in treasuries and swaps. paul: morning, erik. erik: how focused are your clients on what others say it is the key threshold of 3% yields? paul: very focused. rates are part of our fixed-income business. it is a very important psychological number. most of what usually is what it -- most important is what it reflects. continued momentum, continued confidence in this momentum story. but the thing to watch is how gradual inflation will come through. we have seen some recent numbers that suggest it is very gradual, a smooth entry point. of course, the 2% number has been out there for a while. people are calling fo

in places like skyscrapers, warehouses, and shipping containers, which is doing.eight farms is caroline hydet what it is like to farm in a box. ♪ caroline: this might look like your typical burger, topped with all the fixings, including that leafy-green lettuce, cooked and washed in brooklyn, farm to table greens, only it is a afferent kind of farm, 320-square-foot husk of a shipping container in the heart of downtown manhattan. it's called the leafy green machine, and it's the brainchild of boston-based freight farms. it is part of a new wave of vertical farming that is set to be a $6.5 billion industry by 2023. >> shipping containers were pretty much everywhere in the everything.cks and they are widely available, and the infrastructure is built to move them around. of refrigerated shipping containers off the secondary market, so they have installations built into the walls. to ben: designed eco-friendly, using only 120 kilowatt hours per day. according to freud farms, that is as much electricity as two family homes. what about the most precious of resources? this farm only requires five ga

emily: bloomberg's caroline hyde with niklas zennstrom. atomico.ing up, our conversation with the eu ambassador to the united states, david o'sullivan. gdpr the future of global trade. and if you like bloomberg news, check us out on the radio. listen on the bloomberg radio bloomberg.com, and in the u.s., on sirius xm. this is bloomberg. ♪ emily: this is "bloomberg technology." i'm emily chang in washington. on friday, europe's new data privacy laws will go into effect. the general data protection regulation could bring in unprecedented fines for companies that failed to adequately protect the data of eu citizens. we are talking 4% of an offending entity's total global revenue, or $24 million, whichever is judged to be higher. this on the back of mark zuckerberg's testimony before eu lawmakers, where some legislators felt they didn't get the answers they were hoping for. >> would you allow users to escape targeted advertising? i asked you six yes or no questions. i get not a single answer. and of course, you asked for this format for a reason. zucke

emily: all right caroline hyde , in london. caroline, thank you.oming up, one hedge fund manager has a novel way to turn a profit from investing in tencent, whether shares go up or down. details on that, next. and "bloomberg technology" is live streaming on twitter. follow our global news network on tictoc at twitter. this is bloomberg. ♪ emily: consumer rights groups in europe have kicked off a series of actions against facebook, seeking at least 200 euros in compensation for each user for violating privacy rights. cases have been filed in france, italy, spain, and portugal. the group made a statement saying consumers are not puppets that facebook can play with at will, and the apology from ceo mark zuckerberg in the wake of the cambridge analytical scandal are not as enough. tencent remains one of the biggest tech firms in the world. the stock has seen dramatic swings over the last year. one hedge fund manager says he has a novel idea to invest in the company without taking on so much risk. the founder and ceo details his strategy to stephen engl

joining us from washington dc to discuss it, simon lester, trade in london,yst and bloombergs caroline hydecaroline, tell us more about the reaction in europe. depression,e of really. many speaking out. the head of the eu commission was on stage giving a speech when he learned of this particular news. he said it is a bad day for trade. he is saying this is unacceptable. there is anger from the eu or the u.k. has been speaking out saying how disappointed they are by this action. it is the eu that is taking the biggest steps in terms of retaliation. we will get tit-for-tat. they will bring in their own tariffs aimed at strategic provisions coming from the u.s. -- almostly, experts laughable. they are aimed at some of the key constituencies of the u.s. that are up for reelection. they are trying to be strategic about the exports they are targeting. notably, this is one of anger, hurt, and retaliation coming from the eu. emily: take a listen to what the ross and what he had to -- to wilbur ross and what he had to say. that were per -- perfectly appropriate for the u.s. to make to europe, to asi

this is bloomberg. ♪ free caroline: live from london, i am caroline hyde.is bloomberg markets. the trump administration announced it is re-imposing tariffs on steel and aluminum from the european union. move that mexico, a might trigger retaliation by america passes closest allies. we have promises of that already from the likes of mixed co. joining us for the latest is sarah. what you make of the retaliation threats from mexico's economy ministry and the european union, they affect a lot of products. >> yes. the reaction was immediate to the announcement today of the tariffs. i think many countries were expecting it. we heard a got a pre-reading and the decision was to be made. they had the approvals for press releases and reactions already this morning. what is clear is the targets for retaliation, at the eu and mexico, have identified, are politically sensitive goods, from states were a lot of trump supporters live. they are targeted. we definitely sit here and escalation and this is amongst i guess america's biggest allies. will that in some way backfir

i'm vonnie quinn in new york and caroline caroline hyde is in boston.the central bank exclusive. bloomberg's western european central banks editor is standing by with a special guest. >> thank you. beenere with a man who has at the heart of ecb policy making basically since the birth of the euro almost two decades ago. for the last eight years, he has been vice president. the term expires next month. calmto the all too brief between the sessions he has been through, he has been through an unfortunate rate hike since 2011, negative interest rates, rescuing the euro area from deflation or the threat of it at least. counselorsverning almost but not quite ready to talk about exiting stimulus. very good day. it has been quite in eight years. you are about to go at a critical moment because the economy is slowing. >> just a slight slow down so far. you may recall stock projections were at a critical moment because the economy is slowing. published after the high-growth of last year. , theat is happening still 2%.cast growth of about the outlook has tilted tow

caroline: from london, im caroline hyde. ."rg markets saudi and russian plans to boost oil output are driving continued bearishness in the market. let's look at how u.s. crude headed for the fifth day of loss. we are joined by the bloomberg oil strategist. we are seeing brent in green because yesterday was the big selloff. wti crude selling off because yesterday it was the closed market. where do we sit in terms of russia and saudi arabia and more output? goldman sachs seems to be saying it is not as bearish as you might think. >> i think it does matter. i the demand is at least because if they don't do this, then the markets will get even tighter in the second half of the year. we have 2 things that are happening. when is the continued decline in a venezuelan output. venezuela's output now is down almost as much as saudi arabia's and cuts came into force. it was scheduled to cut one third of what it is cut now. the unanticipated declines in venezuela are huge, and the expectation is that they will continue. oilill lose more ve

i am joined by caroline hyde, live from bloomberg's technology summit in boston. in a turnaround in the books, is suing national amusements in an effort to prevent it from interfering with a special board meeting that would dilute the voting shares of redstone's company from 70% -- from 79% to 17%. paul sweeney is with us. we did not see this coming, but a brilliant move. the: i would call it nuclear option if you're from the cbs camp. nationals that cbs, amusements, and viacom are nowhere near a deal. wants of redstone really , but theye together only wanted to come together under their terms. vonnie: what is the defense here? -- can get rid of les at any point. paul: that is probably her final card to play, if she wants to put these companies together. managementtall the team of, viacom, who has done a good job here, in the early stages of turning around viacom. the perfect scenario for redstone -- for national amusements is to put les in les has theause control of the streets. he has consistently delivered for shareholders. the street feels putting these compan

caroline hyde, in london, mark bergen in san francisco, thank you both.oming up, last year for the first time ever new york city's our past san francisco on a key metric for funding. total number of dollars invested. we hear from eric capela on why new york is catching up with the ppeau with -- eric hi white new york is catching up with the east coast. "daybreak: australia -- this is bloomberg. ♪ g #btv since 2006 -- emily: since 2006, venture capital investments have increased. scarlet fu spoke with error -- aboutippeau and talked competition heating up between new york and silicon valley. >> it is a collaborative community. we all work with each other where there is no term sheet wars, no evaluation things going on. up.le tend to want to team it is not a big community, certainly compared to the west coast, so everybody seems to have found their space and what they really like to do and what they are good at. the second thing, the companies we invest in in new york tend to be more on the service applications building whatever you can build on top of plat

joining us to discuss from london, caroline hyde.hat kind of ammunition does this new funding gives taxify in a market where the winner is far from assured at this moment? reporter: plenty of competition heating up in europe, particularly as we seek uber continued to struggle with european regulators, particularly here in london, trying to win back its license, which was suspended at the end of last year. $175 million being poured into this company, more than three times what red -- originally was reported. a big chunk of change from another strategic investor, this time the mercedes-benz maker daimler. disc is that the ammunition to go deeper into the countries it is already within. it is within about 25 countries. they have really focused on eastern europe. they are big and hungary, romania, the baltic region, and interestingly, in africa. the emerging markets are doing well for this company. this is where the money is theg, to develop technology, and improve operations in the home markets of europe and africa. emily: walk us throu

emily: caroline hyde and sarah frier, thank you both., google backed tv is adding its first female investing partner and we will hear from her next. this is bloomberg. ♪ emily: chrissy teigen is hopping on board and brings success of these to the blue apron menu including recipes from her cookbook. untils will be available july 9. after overseeing every twitter acquisition in history, she is starting a new history as the only general partner -- only female general partner. she left twitter for brief spat and went back to twitter in december of last year. why return? promotion, now a you are general partner. why them again? >> i'm delighted to be a general partner. i think it is a tremendous platform and a really differentiated platform. the role of an investor is to support and back sounders -- founders through the whole lifecycle of their journey and that is work i like to do and have done for long time. particular, -- g-v, in it as technology and the dna of the firm which is an incredible expertise to lend the founders. culturally it i

we spoke to caroline hyde for more. know if there is necessarily disappointment, but i think it had something to do with the way it went public. it went public in a direct listing. they basically said all of our existing shareholders can sell their shares now on the open. not as many holders sold as was expected. now the stock is up 12% from its open price. i have a bit of suspicion that good old fashion profit-taking is going on. people are taking this opportunity to sell off. when i dig deep into the numbers, everything is in line with company guidance and estimates. i am left scratching my head a little bit as to what folks are really disappointed with unless they are expecting astronomical growth in users. emily: that is the question, will spotify have breakout growth of some kind in the future, or is this the norm? will growth only plateau? caroline: if you look at premium subscribers, up 45%. they promised growth of about a third. continuingive users to grow. this is a company that will continue to deliver as it pr

i want to bring in caroline hyde. investors are concerned about regulatory concerns. if this does go through, it could germanic leave reshaped u.s. telecom industry. but get deeper into what we are looking at. caroline: we are looking at for becoming three, and if you look at bloomberg intelligence, you can see how the slices of the pie could start to shift around. overall, we could start to see a merging of the two key pies eaten the moment by softbank controlled sprint and the likes of t-mobile. check out the terminal at the moment because you will see this change in how the control is for the four key holders down to three keyholders. this is what is concerning, overall, the department of justice, most likely. and they have to get it to the fcc. the obama administration at that point was overseeing this and we saw the doj could not swallow that pill of 4 slices of pie becoming three. they were worried about lack of innovation, price competition, and the effect on the consumer. as well you heard john legere talk about they can add jobs, music to donald trump's ears.

on monday, caroline hyde previewed what would be a big week for paris and tech. president emmanuel macron is looking to become the goto head of state for global tech. this week, he spoke to heads of notable firms at the presidential palace. the meetings will be followed this could signal a big shift for the country. for years, the french tech scene has operated in the shadow of the world, but he is capitalizing on a void left by president trump's complicated relationship with global tech. france has had only three startups achieve unicorn status, compared to 22 in the u.k. and a hundred and five in the united rates. but recently, the paris tech industry is reinventing itself. there was a record amount of tech deals, growing by 45%. the total value of the deals jumped 50% from last year. meanwhile, the country is hoping to jumpstart investment. largeste world's startup push. with -- the property opened last office with eight spaces, for kitchens, and a pop-up space. however it will cost you. some firms paid $600,000 a year in membership fee. has it been a success,

i'm caroline hyde.s week we are showcasing the innovation diversity and power of boston's economy. the u.s. supreme court struck down a federal rule that has barred single game gambling in most of the country, giving states leeway to legalized amply nonsporting events. the decision will have an impact on professional leagues n the u.s. , the e with steve co-owner of the boston celtics. let's get your take on this uling. >> my understanding is it is statewide. they have it all over the rest of the nations and the u.k.. soccer. i think it will play right as a state's right ruling. that is up to the state. i'm sure they will figure out the best way to handle it. caroline: we have heard from adam silver. he has been a relative supporter, saying overall, they have to ensure the legitimacy of the sport remains intact. do you think it would affect the game in any way? > with adam silver as commissioner, the game has always had a high integrity with david stern and adam silver. whether anything changes in gambl

emily: that was will shu, deliveroo ceo, speaking with our own caroline hyde.oming up, the european union is about to set the standard for protecting user data. our conversation with the eu ambassador to the united states. and bloomberg technology is livestreaming on twitter. check us out, @technology. this is bloomberg. ♪ emily: as we have discussed, the french president has been on a drive to boost investment in france, meeting with some of the biggest names in technology, including mark zuckerberg and satya nadella. nstromne hyde spoke with e and talked about what he expects to come out of the summit. >> i think it's great that president macron is engaging with technology, because we need that. but also technology can have positive impact. it can have negative impacts that we need to deal with as well. caroline: talk to us about the ramifications of technology. mark zuckerberg has had to deal with a lot of the repercussions of getting too big to greg -- too big too quick. technology, since the start of the industrial revolution, has created a lot of growth,

i am caroline hyde. this is bloomberg technology. we are showcasing the innovation, diversity, and power of the regional tech economy. hour, up in the next boston has become a standout city for testing self-driving car's, and we are at opti mus rides. autonomous driving technology improves rapidly. how are they factoring in safety? we will hear from the toyota research interest to -- institute. and our interview with tom kennedy, explaining why boston remains one of the best areas of talent in the world. to our top story. in the race for autonomous vehicles supremacy, it is a handful of u.s. cities leading the charge to test self-driving car is buried in 2017, they launched a testing program on public roads in the seaport district, where lyft kicked off timus rideber and optimistop kicked off. >> this self driving vehicle startup is on a roll. the company is optimus ride, a play on the transformers robot, and it's located in boston's seaport. test vehiclest of -- us city.ll it optim we are able to reconf

i'm caroline hyde.are showcasing the innovation diversity and power of boston's tech economy. of course this week the u.s. supreme court struck down a federal law that has barred single game gambling in most of the country, giving states leeway to legalized gambling on individual sporting events. the decision will no doubt have a huge impact on professional leagues in the u.s. we spoke with steve pagliuca, bain capital co-chair and the co-owner of the boston celtics about just this. he joined us from his home turf of boston's institute of contemporary art. >> my understanding is it is focused on state's rights more than anything else. we'll see how that plays out. they have gambling all over the rest of the nations, as you know, the u.k., soccer gambling. i think it will play out as a state's right rule. caroline: something that massachusetts should approach? >> that is up to the state. attorney general sure hegreat and i am will figure it out. caroline: we have heard from adam silver. he has been a rel

emily: that was bloomberg's caroline hyde and alex barinka.w xiaomi went from has been to the world's biggest ipo in years. this is bloomberg. ♪ emily: this week, xiaomi filed for an initial public offering in hong kong, kicking off a process that is expected to raise at least $10 billion. the ipo could be the largest since alibaba and may bring in thelue of $100 billion on eighth euro company. -- eight-year-old company. the chinese smartphone maker is growing at a blistering pace that will help it take on apple and samsung. we went live to hong kong on thursday where we were joined by bloomberg's stephen engle. stephen: xiaomi was an incredible success story when it was founded in 2010. i remember interviewing the first cofounder in 2012, one of the first foreign journalists to get an inside look at this booming company. we had no idea it was going to become this large. they really were kind of a victim of their own success. one of the cofounders became kind of a rockstar compared to steve jobs in china. actually he said he did not like to be

i'm caroline hyde. is known for mobile payment solutions and is based in boston, but now thanks to a $100 million funding round, circle finds itself more world ofenmeshing the cryptocurrencies. it's the largest vc ever for a crypto making company, and it's making circle with some $3 million -- worth some $3 million. more and more, it is working to harness the power of the blockchain. joining me now, the cofounder and president of circle. welcome here in neville: delighted to be here. million dollars. talk to us about what the vision of circle will be. it seems like a very infrastructure of blockchain within crypto. mr. neville: we're excited about reimagining what global finance can be if there is such a thing as an internet for finance. in the same way we are connected to one another directly over the internet of content, we're looking for capital formation, fundraising, payments, and selling globally if we can be connected in such a way for finance. caroline: the payment solution you already have, the

italian political uncertainty ever present but stocks rose, stoxx 600 gain and the ftse and caroline hyde -- cac is lower. shery: noon in washington and midnight in hong kong. from new york, miami shery ahn. david: i am dax. welcome -- i am david westin. shery: trade show that in the white house as peter navarro says steven mnuchin was wrong about a trade war quote with china. mike pompeo meets with his north korean counterpart in new york. the groundwork for the summit being laid. the organization of american states says venezuela government has committed crimes against humanity. what will it mean for sanctions? an interview coming up. david: whether or not there ever was a trade war with china, the truce is over. this is according to peter navarro who went on npr to declare steven mnuchin's

caroline hyde is with him at the conference. good morning. ne: i am joined by john collison, president of strike. you just met with macron yesterday. is this really now the limelight on the technology industry in france as a good place to grow your business? john: it is nice to see a world leader who is optimistic about the general direction of the world and technology in particular. see thetarting to engagement. elisa: talk to us -- caroline: talk to us about your growth regionally. you are based in san francisco and you are from ireland, but you are a global company. john: now europe is a fast-growing market for us. the u.k. obviously, and starting to see more in france and germany. caroline: u.k. obviously, you say. john: it is such a large economy and a largely stable economy. of the french startups funded over the past three years our platform companies. this would be the large companies like uber and airbnb. there is a huge amount of .ompanies going through they are going all over. caroline: you make revenues by the fact that you are hel

i am caroline hyde.broadcasting in boston this week and have set up shop today in optimus ride headquarters. we have been discussing the fastest-growing emergencies -- industries, autonomous driving. many predict that the majority of cars will have self driving capabilities sooner than you think. will the road be safer if humans are no longer behind the wheel? for moore, john leonard, toyota research institute vp of automated driving research. wonderful to have you here. will humans not be interacting with vehicles? at the moment, you are working with a jewel sort of project. professor and.t. i have been involved in this technology my whole career. i have the opportunity to work with toyota, who chose boston as a place for its new research laboratories, for access to talent and the technology network. we are pursuing a dual strategy, something we call show for, fully self driving, but also something called guardian, which is a human driven car but an autonomy system in the background ready to take over t