crayton: thanks. selina: tech stocks are continuing to suffer after a bruising december, at 2019 will bring new challenges for silicon valley as lawmakers around the world voice new concerns over privacy policies and antitrust concerns. kevin cirilli joins us from washington for more. tex has been under the microscope for many years with tech execs being hold multiple times over. when will we see meaningful legislation? if 2019 the year? kevin: there are calls for inflation. whether the bipartisanship will be able to find a crossroad remains to be seen. washington continued to take a bite out of the faang stocks earlier this year. that impacted the big three ceos from the tech companies like -- markkerberg zuckerberg, jack dorsey, and son and google's ceo. we think 2019 will be a year of greater regulation in particular on those two companies. google will be in a great position longer-term and we will power through. we think facebook's best days are behind it. not just because of the privacy fees, but

commissioner crayton? >> commissioner crayton: i'm not sure whether my mike is on. is it on? okay, great. i just want to say, first of all, thank you, again, supervisors for calling this. it's important. i was at balboa high school at that hearing that you reigned over, and i wanted to say that i felt the frustration of -- i don't want to say your people, because they are our people, but the residents that are within your district that were just absolutely flustered about this particular situation. and also, as you know, the airport was there, and the airport director has done a lot, and a lot of research and answering back and forth. but i think what you just said about the fact that we've got a powerhouse in washington, d.c., and i want to include senator kamala with that also, because we've got people that are there. and i think at some point in time, hopefully they will come together and we will have a huge hearing around this matter to draw the attention of the f.a.a., because the frustration is there. and i think that it comes a time when we just have to step out of our

that was bloomberg's crayton:. -- crayton harrison. it is time for the bloomberg business flash. fargo will pay to settle claims. resolves annt investigation into allegations that wells fargo opened bogus feesnts charged, improper on customers. a 50% increase in salary for 2019. that is hollywood's highest-paid media mogul. he will also get another $13.5 million in stock options. signed were in americans -- and fewer americans signed auctions for home loans. the national association of realtors said today it is pending home sales to 101.4. that is your business flash update. coming up, no thanks. we have all of the details on the attempted takeover from the cannabis retailer ceo. this is bloomberg. ♪ ♪ taylor: this is bloomberg markets. i am taylor riggs. u.s. cannabis retailer green growth brand was planning a hostile takeover bid for another company. valued at $2.1 billion. the ceo told bloomberg's reporter that it should be judged on its merits by the company's shareholders. >> there been a lot of interest in mining businesses in this last february when the cold memos were res

we're also joined here today and i want to welcome our airport commissioners, linda crayton, eleanor johns, and richard guggenhime. thank you for being here today for this hearing item, our clerk is erica major, and our airport director. as well, madam clerk, do you have announcements today? >> clerk: make sure to silence all cell phones and electronic devices. any files should be submitted to the clerk. >> supervisor tang: thank you very much. item one? >> clerk: hearing on airport noise, which is disproportionately impacting the southern neighborhoods in the city and county of san francisco, requesting the san francisco airport commission, director of the san francisco international airport, and chairperson and program coordinator of the s.f.o. round table to report. >> supervisor tang: thank you, and sorry, if we can please excuse supervisor kim from our land use committee. okay, we'll do that without objection. item 1 has been called. supervisor safai, did you want to start off since you called for this hearing? >> supervisor safai: yes, thank you, chair tang, i appreciate it. i

joining us now with the details is crayton. how important is new year's day?you live in the new york area, philadelphia area, subscribing to the verizon tv service, you are looking at a potential blackout hda these companies -- had these companies not reached a deal. vonnie: it is the age-old war. we came to the wire, and there was a deal. doesn't it prove there is like to cable still? every time you see one of these situations over a carriage deal when a cable network and the reader have a contract in the history do, it is a question. do cable companies still depend on these banking on networks like espn? tried to forgo them and have smaller packages that subscribers may want to get and still happens like discovery and cbs and whatever else? the answer so far has been no. espn has been losing subscribers but still have a lot of them.still one of the most watched channels, especially the younger demographic. that matters to the cable distributors. they know they will lose subscribers if they don't have those channels.so far , the legal system is still intact e

crayton: her point is valuable.eing deemphasized in the future of verizon even for comcast and much of the telecommunications media world. the future is going as direct to customers as you can and companies like verizon want to be the pipeline, the fiber backbone you used to get that stuff so they need the fastest and most reliable network they can develop. that is the future for them. vonnie: thank you for that. verizon is up about .3%. checking u.s. markets more broadly on this shortened trading day, the final one of the year. the vix is elevated, up just below when a seven and the dow up .6%. the nasdaq regaining some of those gains as well. going to be a volatile day. it should be an interesting one. happy new year, everybody. this is bloomberg. ♪ david: welcome to "balance of power," where politics meets business. marty schenker on the partial government shutdown. jenny leonard from washington on the progress president trump sees in negotiations with the chinese and evans really on senator warren looking for a

crayton: pretty widespread. , naminge cited apparel calvin klein among others, as having strong salesban -- brands they tout in their advertising. caroline: how much do you think they picked up from the fact that toys "r" us is no longer around? crayton: they did cite a lot of toys, including something called lll surprise, which i'm not sure what that does. there is a lot of talk in the retail community across the board about picking up the slack from toys "r" us and how that may be a boost for some names like sears and jcpenney who have been struggling. caroline: we thank you. meanwhile, the markets are continuing to struggle. we are close to the bear market on the s&p 500. this is bloomberg. ♪ caroline: 11:00 a.m. in new york , 4:00 p.m. in london. i am caroline hyde and this is bloomberg markets. here are the top stories we are covering from the bloomberg and around the world. u.s. stocks fluctuate on the brink of a bear market following the worst pre-christmas session forever. president trump been saying by the damp and backing secretary mnuchin, and kevin hackett saying his job i

we're also joined here today and i want to welcome our airport commissioners, linda crayton, eleanor johns, and richard guggenhime. thank you for being here today for this hearing item, our clerk is erica major, and our airport director. as well, madam clerk, do you have announcements today? >> clerk: make sure to silence all cell phones and electronic devices.

. >> reporter: geoffry's inner circle makes low-income folks like james crayton feel welcome. >> i feel very blessed. >> reporter: geoffry's usually schedules dinners for holiday and organizes the food and the donors, and free haircuts with players such as antonio davis and david gordon. leticia chooses to volunteer, inspired by his example. >> he wants to do it. you know, he wants to help. >> reporter: geoffry said he learned to serve others by his parents. >> the best thing they did was teach us compassion. >> reporter: his father and mother had heart for others. >> my mother walked out of her for my daughter's 16th birthday, and there was someone in the doorway, seemingly homeless and she started to cry saying that could have been any of my sons. >> when i thought i wasn't going to be able to go to school and i was giving up, he didn't let me. he has been very encouraging. and i got it. >> reporter: for his compassion and leadership in his downtown oakland community, this week's jefferson award in the bay area goes to geoffry pike. >> he as also helped 15 people start new lives after

crayton: bringing somebody experienced in human resources not a bad move.ad a lot of turnover in the executive ranks, this year especially, and has been criticized for having a lack of management structure.really a lot of people report directly to elon musk, and i can cause for a lot of confusion and problems, so her expertise will be helpful to the company as it mature. on a couple of other boards right now and was an executive at kellogg's for a couple of decades before she went to walgreens. guy: great stuff. thank you very much. joining us with the latest on tesla and the two new appointments being made. next, counting you down to the european close and talking about what is happening in italy. a couple of days still to pass the budget.getting interesting down in rome . we will take you quickly next. this is bloomberg. ♪ ♪ strengthen our pharma and vaccine business. vaccine business. >> 30 minutes left in the european trading day from london, i'm guy johnson. the european close on bloomberg markets. guy: stories from the bloomberg and around the world.

for more on amazon, let's welcome in bloomberg news managing editor crayton harrison.dustry data about consumer spending, and that seemed to spark a rally not only an amazon but a lot of retail stocks. i wonder, this holiday season, can we really trust these numbers? is it too early to celebrate? >> i don't think so. even when we looked at black friday data, it was pretty good, lower than expected, but that's partially because consumer spending is sort of spread out throughout the holiday season. after thanksgiving, people a couple of days before christmas are still buying things. we are starting to see it is more even across the board, but as we have gone through recent numbers that have been consistently very good, i think that would continue. >> this is really the first holiday season where we have seen amazon have real competition online. walmart, target, big heavyweights really give a big push. >> that's exactly right. there has been a lot of money spent building infrastructure to deliver things in two days, to interface online, to make sure when people are search