taylor: that was joel flory speaking earlier with bloomberg's scarlet fu and caroline hyde.g up, we will have a check in with foursquare on the latest in the location enabled technology. that is next. this is bloomberg. ♪ taylor: tech regulators continue to target social media companies when it comes to protecting consumer data privacy. one tech company focused on user location has managed to stay under the radar. joining me now, foursquare ceo jeff glueck. thank you for joining me. as we take a look at foursquare, so popular when it launched, since then there has been a lot of competition. how do you stay relevant? jeff: it is great to be on your show. the company today is celebrating its 10-year anniversary and we are very different from what your viewers may have remembered. over $100 million revenue, bigger than ever. 99% really not social media location check-ins, but a platform that helps other companies with location technology and other tools. we are more ubiquitous than ever, but kind of like a location layer underneath and the intel inside for location. taylor: we

caroline hyde asked how ibm approaches the human element of disruption. >> there's no doubt we are inra and there's no doubt in my mind that this technology will change 100% of jobs. >> there's a lot of people that want to talk about this job will go away, that job will go away. to me, that is not the issue. the issue is it will change how you and i do our work. almost all of us will interact with these technologies, and it's happening fast. consider the word responsible stewardship. it's one thing to make these technologies, but if you make them, you had better bring them safely into the world. if part of that means you prepare society, your own people, and in the world at large, and when i say that, what i worry most about is this cannot be a world where it all goes to a few people, where the benefits do, and that you have to have a college degree or phd. i have an entire workforce of that, but that cannot be the world. you start to have have and have-nots and this is what has led to a lot of unrest in the world where people go, my future is not better than my current. i want a chan

. ♪ caroline: live from new york, i am caroline hyde. romaine: i'm romaine bostick. e: i am joe weisenthal. caroline: a slightly muted response to the crisis but energy was in outperform her. saudi fallout -- was an outperformer. saudi fallout continues. ipopolitical, monetary, and fallout. will the fed have another reason to cut interest rates this week? rethinking the role. packers deciding how much to admit the next investment vehicle after a bet on we work sours. romaine: today's top story. saudi aramco growing a little bit less optimistic that there will be a rapid recovery since the weekend's attacks. says itretary-general is too early to consider a possible production increase. he spoke exclusively earlier today with bloomberg. a collective, decision of not only opec but .he opec plus a template on what would be done and when. romaine: joining us now for more analysis is cornerstone macro will analyst. we know that the saudi's and their clients have commercial reserves. how much of a cushioned we have? >> it depends on what is out and for how long. outs say $5

i am caroline hyde. romaine: i'm romaine bostick. joe: i'm joe weisenthal. roline: lackluster on the equity market. romaine: but the question is, what'd you miss? caroline: u.s. 10-year yield hitting a high on stronger than expected data. gaining ground, the s&p rises for the third straight week. pushing ahead --wework changes its corporate governance structure to calm investor concerns ahead of the ipo. some say the move does not address the problems. all that and so much more coming up. romaine: all right, let's get into probably what is the talk of the week beyond what is going on in bonds, and that is what is going on in the ipo space. star trek record predicting winners and losers among technology ipo--a strong track record predicting winners and losers among technology ipo's. a lot of winners and losers. let's start with -- i guess they are a loser, they have not come into market yet. that is wework. they are obviously trying to appease investors here. is that going to be enough to get out the door? >> we use wework as an example of what we know about w

. ♪ bloomberg'sve from world headquarters in new york, i'm caroline hyde.ere's a snapshot of how we were muted on the main industries -- the main indices. taking action. the fed moves to alleviate stress in the money market. does a spike in funding rates show that the fed is losing control of short-term spending? saudi aramco looks to get back to pre-attack levels by the end of this month. oil gives back half of yesterday's search. as it seekss ipo more time to ease investor concerns. bonds drop for the most on record. romaine: quick check on some breaking news. a slew of earning results coming down the pipe. adobe estimates coming in a little bit lighter than expected. retailer, online pet the second quarter they have reported earnings since going public. cutting full-year outlook for the current fiscal year, taking it down to a range of 11 to $13 per share. analysts estimates on average were $14.73. the lowest estimate out there was for $14. that was after a lot of analysts came down. caroline: let's turn to the money market. bought york fed fund securiti

the real-world application is something that caroline hyde covered when she spoke down with ibm ceo ginnietty. ginni: why look at the future, technology is coming. we're all about applying them to business but we build some of the world's leading technologies here. cloud and ai, everyone talks about that. to be done, but we will park those for a minute. the next two blockchain and quantum. thele overestimate them in beginning and then underestimate them in the long term. asked mechain, if you one word i would associate with blockchain, i would say trust. crypto is a use for that aside. -- a use, put that aside. blockchain come it should put trust between parties who don't even know each other. and it would do what the internet did for communication between lots of parties. so a great example on trust, what it allows you to do is you and i can share a transaction together. i don't have see anything you don't want me to see. and once the transaction is completed, it cannot be erased. why do we each keep our own checking accounts? the old days, we would each balance our checkbooks and the li

carolyn: i am caroline hyde. visit bloomberg technology. the opposite rental company we work has been slashing his violation before its ipo gets cut in half. more on wife. .- why this is pushing back any initial shares until 2022. forget facebook lite and what about facebook love? the company is working on a data service. sources are saying that we could as much as 20 million for we work. a lot is riding on the success today. one company could get hit even harder. i am pleased to be joined here. this helps create the hyperfine board. joanne has been covering the story for us. let's get this all in context. julian has been keeping abreast of the numbers. why the lower evaluation? it could be as low as 20? round ipo's have been increasingly common. bit are projecting a little on we work. it is looking at the revenue and growth assumptions. >> to get perspective on ipo's and how much this is being factored and, kathleen, your perspective on this sale, was 40 million layout of the league -- league?of the >> most of the investors and analysts ar

she talked to bloomberg's caroline hyde. >> i do think of myself as a steward and this is a 108-year-oldhave been blessed to learn from many of the people that came before me, so i don't answer that question lightly, and the company has had to be reinvented many times. it is something many companies have yet to face. it's one thing to put out new products, but it is something else when the competitive landscape attacks your core business models and you have to develop a new one. core business models are the more difficult thing to have to come to build a new one. and so i could just now start to reflect on a lot of this. it's funny, when people say what have you learned, and i say you keep in mind what does not change. to me, what does not change is the purpose of the company. ibm's purpose is always to be essential to the world in some way. that is really to me my first lesson -- be clear of what the purpose is because that is the core around what people do. the second thing, though, is do not protect your past. in my time today, 50 percent of ibm's $80 billion is new products and servi

caroline hyde spoke to her about diversity isut how key to the relationships with employees and customers i deeply believe in responsible stewardship of technology. people have got to trust these systems. the second is that you have to prepare society for them. the third is around verse the end inclusion. for as long as i can remember, for ibm, it is what the firm has been built on. i have really grown in that environment. the first woman senior vice wasident was 1943 and she 27 years old. the timest-forward, in in america, for the civil rights amendment, 11 years before that had declared all of the same points. it has always been about that you have got to get the best valuesce, and the set of so people can come to work and give their best. buildou jump to, if you those technologies, you have to build them with a diverse workforce. you have to represent one of the biggest things around bias. bad bias.ood bias and treatst something which cancer patients. it with only trained three institutions. we are like, they are the three a badn the world, is that idea? ,his idea of who trains things

. ♪ carolyn: i am caroline hyde. visit bloomberg technology.en slashing his violation before its ipo gets cut in half. more on wife. .- why

. ♪ ♪ live from bloomberg world headquarters in new york, i am caroline hyde. u.s.ck markets muted on the surface, but a key rotation going on. anchor: the question is, what'd you miss? parliament set to be parliament set to be suspended, and asus brought -- surprising economic picture. calling out at&t, disclosing billions in a position in a telecom conglomerate and some critical advice. and good news for fannie and freddie. steven mnuchin says a deal to allow them to keep some earnings is in the works. great britishh a pound, because it is pretty since strongest level july. boris johnson struck a rather -- on tone on xi jinping brexit, addressing one of the key sticking point standing in the way of a deal. went minister johnson: we to the border several times before the good friday judgment, and i can say now, as i said many times before, the u.k. will never ever institute checks at the border. caroline: joining us for now with more analysis is the president of an institute. >> caroline, i think part of it is that the consumer in the u.k. is buying stuff now of th

. ♪ ♪ live from bloomberg headquarters in new york, i am caroline hyde. joe: i am joe weisenthal. ine: i am romaine bosket. joe: the question is, what did you miss? caroline: the trump administration with a report that it may crack down on chinese capital. pulling the plug, wework. they hit a record low on the news. and not a fashion favorite forevermore. filing for bankruptcy. joe: the trump administration issuing a partial and qualified denial to the revelation from bloomberg that it is discussing limits on u.s. investment in chinese companies and its financial markets, and china is vowing, meanwhile, to continue opening up its markets to foreign investment. joining us is a senior fellow on the council foreign relations, and thank you very much for joining us. you, the talkell of capital controls sort of becoming part of the trade war discussion? obviously, we get this sort of partial denial, but it is clear it is something the administration has thought about. how significant would that be, were there to be some limitations put on investment in chinese companies? >> i think the

i'm caroline hyde. it is a snapshot on how u.s. stocks close today.ging quite a comeback. >> the question is would you miss? >> the fed cuts again. president trump ways in saying the central bank has no guts no sense no vision. focus, --ney market saudi arabia blames the wrong again saying attacks on the oilfield were unquestionably sponsored by tehran. >> breaking news here on at the, their shares are moving around after hours. it is said they would do a private placement of convertible notes due in 20 36. you can see the shares down 1.6%. they were down as much as 4%. >> let's talk about the fed hawkish view. lowering the benchmark rate for a second time this year. policymakers remain split over the need for more easing. >> we are not on a preset course . we will make decisions meeting by meeting and we will try to be as transparent as we can. if the economy -- economy does turn down, a more extensive sequence of rate cuts could be appropriate. it's not will we expect but we would certainly follow that path if it became appropriate. i don't think we

caroline hyde spoke to her about how diversity is key to the relationships with employees and customersnni: i deeply believe in responsible stewardship of technology. people have got to trust these systems. the second is that you have to prepare society for them. the third is around diversity and inclusion. for as long as i can remember, for ibm, it is what the firm has been built on. even longer, from the very beginning. i have really grown in that environment. the first woman senior vice president was 1943 and she was 27 years old. then i fast-forward, in the time in america, for the civil rights amendment, 11 years before that amendment, 11 years before that had declared all of the same points. it has always been about that you have got to get the best workforce, and the set of values so people can come to work and give their best. that is really what it is, give your best out there. then you jump to, if you build those technologies, you have to build them with a diverse workforce. especially with artificial intelligence. you have to represent one of the biggest things around bias. o

caroline: i'm caroline hyde where live from bloomberg headquarters in new york. there a lot of rotation going in under the headlines. joe: the question is "what'd you miss?" caroline: apple's big bet is rolled out, of rated iphones. up,lett: and china opens slapping a foreign investment limit and its stock and bond market. is beijing's move a sign of desperation? concerns on the we work ipo. we work slipping below face value since the august leasing company file to go public in august, spooking bond investors. is the us now to discuss bloomberg credit reporter. some people might not realize it but there is already a publicly traded we work intimate out there that we can see every day for the first time in a while we're actually starting to see weakness in the bonds. >> yes the bond had been doing quite well on this ipo news. but what is that happening lately as investors are getting a little bit nervous. we work is a cash burning company typically not your usual junk bonds issue out there. but right now the bonds are down about 3-2 five points on this news that th

the real-world application of quantum, and for that matter, blockchain, is something bloomberg's caroline hydeed when she sat down with the ibm ceo, ginni rometty. >> when i look at the future of technology, we're all about applying it to business but we built some of the world's leading technologies. yes, cloud and ai, everyone talks about that today. artificial intelligence and cloud. much more to be done there, by the way. we will park those for a minute. the next two, blockchain and quantum. as often is the case with new technologies, people overestimate in the beginning and then underestimate in the long term. but blockchain, if you said, what is one word you would associate with blockchain? i would say trust. you don't even have to use the right kind of blockchain. which is not always the case today. blockchainhing, what should do, it would put trust trust between parties who don't even know each other, so it would make trusted transactions , and it would do what the internet did for communications between lots of parties. what it allows you to do is, you and i could share a transaction

caroline hyde and scarlet fu caught up with the vice president of risk management partner relations.e products we offer are superior products with high quality and all the features and functionality of all of the other flagship phones at a significantly competitive price. and that is something consumers are missing in the u.s., both in the smartphone area as well as other products and technologies we sell and support. scarlet: if you could be more specific on that. one big issue we have is the lack of broadband access for people in rural parts of the country, partly because companies do not want to pay for it. why is it advantageous for rural communities in particular to use huawei gear? what is the sales pitch? >> well, there's a few reasons. frankly, there's over 24 million consumers in the areas that huawei covers. we provide technology and capabilities for operators in these regions. because of our experience, many, many years of experience in rural china, building up the rural chinese technology -- or the communications networks. as we go forward, we are able to provide that exp

the real-world application of quantum and blockchain is something that bloomberg's caroline hyde coveredhen she sat down with ibm ceo ginni rometty. in this exclusive interview. ginni: we look at the future, technology is coming. we're all about applying them to business, but we build some of the world's leading technologies here. yes, cloud and ai, everyone talks about that. artificial intelligence and cloud. much more to be done on that, by the way. but we will park those for a minute. the next two -- blockchain and quantum. as often is the case with new technologies, people overestimate them in the beginning and then underestimate them in the long term. but blockchain -- if you said, ginni, what is one word you would associate with blockchain? i would say trust. crypto is a use, put that aside. it has to use the right kind of blockchain. what blockchain should do -- it will put trust between parties who don't even know each other. it would make trusted transactions. and it will do what the internet did for communication between lots of parties. say, for example, if i can, on trust and

caroline b. hal mono. michelle hidenberger. sheila m.s. hyde. staff sergeant jimmy, united states army retire d. angela m. house. brady k. howell. lieutenant kernel ro nert hymel, united states air force retired. sergeant major lacey ivory, united states army. bryan c. jack. steven d. jacoby. lieutenant colonel dennis johnson, united states army. judith l. jones. ann judge. brenda kegler. chandler r. keller. yvonnee. kennedy. norma khan. karen ann kinkade. lieutenant michael s.lamana, united states navy. david w. laychak. dong c. lee. jennifer lewis. and her husband kenneth e. lewis. samantha l. lightbourn-allen. major stephen v. long, united states army. james t. lynch jr. terence m. lynch. petty officer second class nehamon lions iv, united states navy. shelley a. marshall. tree is teres martin. a da mason. lieutenant colonel dean e.mattson, united states army. lieutenant general timothy j. maude, united states army. robert j. maxwell. renee a. may. molly l. mckenzie. dor ama recent menchaca. patricia e. mickley. major ronald d.milam, united states army. gerard p. moran jr. odessa v. morris. p