daimler, bmw also down as well.well as auto parts makers, and per really luxury tire maker, down 3.5%. this is not just on trump comments. they cut their targets for pirelli, and said the luxury tire market is oversupplied. ,uy: thank you very much annmarie hordern. president trump has rejected a european union offer to scrap tariffs on cars. he spoke exclusively with bloomberg's editor-in-chief. they createump: standards that make it impossible. they has standards like with medical equipment, we cannot -- not that the standards are higher, they are just different. our companies cannot get medical equipment into europe. i said you have to change her ways because the european union is almost as bad as china, just smaller. the european union is almost as bad as china, just smaller. we can argue about the math on the smaller business, but it is a significant comparison that is worth dwelling on a little bit. let's talk now to another exclusive interview we have this morning. maker jim altare -- a company in process of

and daimler moving cash to. -- iran wants that money, they want 400 million now.o avoid it being detained under looming sanction, u.s. san sancn cause daimler abandon their expansion plans in iran and maker of peugeot cars, and a u.s. official says nearly 100 international firms have announced their intend to leave, iran. and linsey gram saying it -- lindsey graham saying it is time to make a choice. >> what is it about the eyia the ayatollah that you like? do you think he is kidding when he says death to israel. to the europeans, you need to get with the iranian people, get behind trump to break the regime's back before it is too late. liz: joining me now, former u.s. army special forces, and group study president jim hanson, great to see you, is this enough for european companies to say we're not going to help iran with major exports, islamic revolution. >> i don't think it is a tough question from a business perspective looking at the size of the economy in iran and the size of the economy in the u.s. you add-on top that fact that iran is most mel -- me left ve

brent: you mentioned daimler abandoning its iran plans over u.s. sanctions.ow united would you say europe is or is not when it comes to confronting these american sanctions? cornelius: politically europe is united. you can see that from a statement yesterday from the eu foreign-policy, the three foreign ministers of france, germany and the u.k. they all said they oppose and reject the u.s. decision towards iran. politically there is unity on this front. the question is what is it the europeans can actually do. the regulation which went into effect a day certainly not helping major companies, but it could do help for small to medium-sized companies. once that want to do business in iran and do not have a share in the u.s. market. brent: at the end of the day when europe wants to do along with russia and china, is to preserve this nuclear agreement. now, does europe have the clout as well as the capital to do that in the face of american opposition? cornelius: we will see. so far europe is standing its ground, and that is a welcome move. europe has been shepher

. >> and daimler finds itself in theiddle of the trade dispute between china and the u.se automaker saysdes suvs built at itsba a plant are being checked by shanghai customs for possible problems.e china says s models built in the u.s. between may 4th and june 12th have a break issue which poses aaf possibley risk, daimler says it is working with authorities to try and resolve any matters. >> buying a used car instead of a new one is usually t cheaper option, but get this, the average price of a used car is now at a record $20,000. what's driving that? phil lebeau takes a look for us tonight. >> forget the image of used car dealers peddling old beaters for a couple thousand dollars. these days, dealers are selling used models and service plans that few could have imagined just a decade ago. since 2005, the average used vehicle price has m climbe than $5,000 to hit a record high of just over grand. there has not been resistance. we are seeing a very healthy amount of sales so far. largely that does come from these vehicles. >> there's been a steady supply of leased three-year models who h

daimler, for the moment freeze phrases inside iran.uropean union is telling those within its borders keep doing business with iran as long as the business is legitimate. so much so, trish. the eu amended its laws to to protect those that do business with iran. the trump administration picking up a win with daimler. trish: thank you, blake. we have former arkansas governor mike huckabee. good to see you. iran, and europe, seems pretty simple to me. i think if you're willing to do business with iran, a rogue actor, then you shouldn't expect to do business with the united states. we have a ton of power here. are we going to be able to use it this time? >> i think we are. i think that is exactly what the trump administration is doing. i applaud them for it. you want to do business with a blood-thirsty nation, kidnapping people, funding all kinds of terrorism all over the world? that is your choice but you will not be able to do business with us. the money you make off iran is blood money. you will not be able to do business with us. that i

daimler injected life into the region's bond market with a 3 billion euro deal in week after reportinges that missed estimates. it tightened pricing by as much as 17 basis points. here in the u.s. the treasury said it will raise long-term debt issuance to $78 million this quarter. it is also launching the third consecutive quarterly increase. here is mary bowers, krishna memani and bryce doty. what caught up with scott minor at guggenheim. what he has to say about refunding and what it meant for crowding out other assets. we are getting to the point where we are getting a crowding out effect where treasury bars are becoming so large it is making it more and more difficult for other are worse to get access to capital. jonathan: mary, arrieta point? -- are we at that point? mary: the strong technical we had is the dearth of supply. we have not seen an issue with issuers coming to market yet. that is part of why we think he was high-yield has done such a good job. jonathan: supply is supporting high-yield? we have not seen a crowding out effect come yet. krishna: he saw a bit of crowding

in europe, daimler issued its second round of pound bonds, bucking a near 40% slump in sales and corporatet sales in 2018. notesillion of five-your -- five-your notes. cut salesnies have about 80% this year to 9.5 billion euros. this comes after the president's tax reforms removed an incentive to issue debt in europe. i want to get to a fascinating story. ever report this as president trump held italian -- told the italian prime minister the u.s. will help the country by buying government bonds next year. still with me is matt hornbach, subadra rajappa and rob waldner. everyone has read that story. they started by laughing. how can this happen? subadra: they can't. the u.s. government doesn't have the ability to go out and buy sovereign debt from other countries. even the federal reserve has a limited capability of buying securities. they can't go out and buy equities. they have been in japan but the u.s. mandate is very limited. matt: the only thing i would say is if it actually happened, it would be a great deal of they swap back the currency. you can get great deals and italian debt the

their own hands illegally occupying land just outside the southern coastal city of cape town from a daimler has that story. slivers of light shines through the simply furnished home of no one decent she's been living on this land illegally for three weeks there are dozens more roughly built homes dotted across this hill in still and bosh near cape town an area known for its affluent than yards and estates. it's because of our government that we are here we have asked for lent before but they have not helped us we have to make a lot of norris and fight to get this land here a court is ordered that no more can be built and those that have been occupied be destroyed but as night falls people scurry to bring in more building material. the believe yeah well this is our land that was taken from our ancestors even though the current owner bought this land the previous owner stole this land and so now it needs to be returned to us while we are taking the land. according to government statistics of africa's white minority population owns more than seventy percent of privately owned farming land unde

. >> they have daimler. stick with 4.9% so they have their foot in the door.e hedge but the connection between daimler and martin haven't been that tight. own and are on their they don't have quite the track record ferrari has. guy: chris, why i.p.o.? what are the advantage for a like aston market -- i appreciate the markets are y -- frothy but why take this step down this road? >> i think you can see that it looking likeind of a bit of cash out by the investors. aston martin has been owned for the last few years by private equity. its industrials has come in and helped turn the company main because the other shareholder had run into financial difficulties. out. is a bit of a cash it is not look they are raising the of money to invest in company. that is something investors will want to look at about the of the i.p.o. matt: as far as luxury market is enough money to see these companies post new records in year? every ferrari recently had the new the targets were aspirational. that has to be a concern. ferrari stock has come down from we saw it.here aston marti

in europe, daimler injected life into the region's bond market with a 3 billion euro deal a week afterting sales that missed estimates. it tighten prices across the three tranches by as much as 17 basis points. in the united states, the treasury said it will raise long-term debt issuance to $78 billion this quarter. it is also launching the third consecutive quarterly increase. still with me is mary bowers, krishna memani and bryce doty. we caught up with scott minor at guggenheim. take a listen to what he has to say about treasury refunding and what it meant for crowding out other assets. >> i think we are getting to the point where we are getting a crowding out effect where treasury borrowings are becoming so large it is making it more and more difficult for other borrowers to get access to capital. jonathan: mary, are we at that point? mary: we have an opposite issue. the strong technical we had is the dearth of supply. we have not seen an issue with issuers coming to market yet. that is part of why we think he was high-yield has done such a -- why u.s. high-yield has done such a go

take a look at the names on the screen, nestle, daimler-benz and total out of france.rump warns that any company doing business with tehran will be cut off from the u.s. financial system and targeted with other punishments. daimler, the maker of mercedes-benz dropped plans to expand iran business until further notice. so they're in with the u.s. totale, a petroleum refining company will quit a multibillion dollar gas project in iran if it cannot obtain a waiver from u.s. sanctions and probably won't. let's bring in adam morelli the former ambassador to the kingdom of bahrain and with us on the trading aspect, london capital head of research. ambassador, to you first. will these snapback sanctions returning to the preiran nuclear deal work? will they make iran bend before it breaks? >> i think they already have. look, in the months since trump announced that we were getting out of the nuclear deal and imposing sanctions and he did that in may, we've seen the iranian currency in free fall, we've seen protests throughout the country, including harsh criticism of the regim

daimler issued its second round of pound bovends, parking a 40% slump in corporate debt sales in 2018the mercedes-benz priced the notes to yield 2.033%. staying in europe. u.s. companies have cut investment great notes to 0%. removed an incentive to issue debt in europe. i want to get to a fascinating story. we have a mention of a report that says president trump told italian prment that the u.s. is willing to help the country by buying government bond next year. still with me is matt from and other our guests. everyone who has read that story has laughed. how could this happen? >> it can't. as far as i know, the u.s. government doesn't have the ability to go out and buy sovereign debt from other countries, even though the federal reserve has a very limited capability of buying securities. they can't go out and buy equities in the u.s. they can in japan, but the u.s. is limited. >> the only thing i would say here is if it actually happened, it would be a great deal if they swapped back the currency. you can get some great yields in italian debt. >> let's c's over to rob. your thoughts

in the us this is a special feature because this engine was only installed in the market and that daimler dart otherwise they only had six cylinder engines of two point six three point four three point eight leaders displacement it's like i'm a feel like i'm awfully dull. it's time to get the best view given some grand finale is a parade of more than three hundred classy cars in the town center. thousands of on lookers gather along the route. many drivers are dressed according to fit their own all below zero and there are even lots of two wheelers in the parade. whether as a participant or a spectator at their own bar classics everyone shares their passion for old treasures on wheels. next time i'm driving porsche it goes on my trick we test the panamera for hybrid scored thirty small. and young automotive engineers on the track at hockenheim show off their designs at the formula student germany. despite social media and what some groups more and more people feel lonely old. couple therapy erotic chats sex robots. as a growing need for entertainment for intimacy. loneliness. in our brave

toyota joins volvo and daimler in self-driving cars. get a new look at new smartphones. >> the pixel 3 and pixel 3 xl will be unveiled, and ugly shoes a big trend. >> are they, though? searches for dad sneakers and dad shoes have jumped more than 600% this summer. pinterest says it's up 730% since january. but they also come with a bloated price tag. a lot of them, over $1,000. >> designer ones. those are your tech bites. >> were they really that ugly? i kind of like the second one. >> for $1,000, they're super ugly. >> not for $1,000. come on. >>> three bay area colleges offering free tuition. what you need to know to qualify. >> neighbors demand to know why ten trees died in a popular san francisco park, and they're pointing at fighters as a culprit. >> they're also battling diseases and disabilities. see how young new sleep number 360 smart bed. it senses your movement and automatically adjusts to keep you both comfortable. and now, all beds are on sale. save 50% on the new sleep number 360 limited edition smart bed. only for a limit

cylinder so this is a special feature because this engine was only installed in the market and that daimler dart otherwise they only had six cylinder engines of two point six three point four or three point eight leaders displacement it's like i'm a feel like i'm awfully. it's time to get the best view given some grand finale is a parade of more than three hundred classic cars from the town center. thousands of on lookers gather along the route. many drivers are dressed to cool. if it's there on a little zero and bear even lots of two wheelers in the parade the filibuster whether as a participant or a spreadsheet or at their own bar classics everyone shares their passion for old treasures on wheels. next time i'm driving porsche it goes electric we test the panamera for hybrid scored three small. and young automotive engineers on the track at hockenheim show off their designs and the formula student germany. on. the modern. quadriga international talk show it's been a tumultuous week in german politics than europe resolved bitter divisions over migration of the government. as it is said ste

mean ultimately would be european giants like the oil companies car manufacturers like renamo and daimler who are currently operating in iran that they would be denied access to the united states market something that would be unthinkable what we've heard from mr altmire there is a statement saying look this can't go on we don't want to see this type of trade war escalate and the fact that we're hearing it from mr altmire should be taken is that this is the words coming from angela merkel the german chancellor is never want to come forward with a statement unless she really has to and if we look back on peace out by his previous experience between twenty thirty to two twenty eighteen he was referred to essentially as the most powerful man in berlin he was the head of the chancery so if he's saying it we can pretty much guaranteed angela merkel is thinking that as well and they aren't alone in europe about being worried over what a trade war could bring. they were totally on except for the measures carries a threat of a spiral of escalation that will result in damaging everyone nobody wins

city and this is a special feature because this engine was only installed in the market and that daimler dart otherwise they only had six cylinder engines of two point six three point four three point eight leaders displacement i can feel like i'm awfully paul . it's time to get the best view given scran finale is a parade of more than three hundred classy cars in the town center. thousands of on lookers gather along the route. many drivers are dressed record. if if they're on a little zero and there are even lots of two wheelers in the parade. subjects whether as a participant or a spectator at their own bar classics everyone shares their passion for old treasures on we'll. see. next time i'm driving porsche it goes electric we test the pan-american for a hybrid score thirty smokes. and young automotive engineers on the track at hockenheim show off their designs and have formulas student germany. the books. this is most people's image. but look there. then you'll spot some fashion classics. greek sunderland's the perfect summer shoes for stars and all the rest. of the thousands of years

elsewhere over in europe, daimler injected life into the region for the sleepy primary bond market with billion euro deal a week after reporting sales that missed the lowest estimates. it tighten prices across the three branches by as much as 17 basis points. and finally, here in the united states, the treasury said it will raise long-term debt issuance to $78 billion this quarter. it is also launching a new two-month bill. it is the third consecutive quarterly increase. with me to discuss here in new york is mary bowers from hsbc global asset management, krishna memani from oppenheimer funds, and bryce doty from sit investment associates. guys, we caught up with scott minerd with guggenheim. take a listen to what he has to say about increased treasury refunding and what it meant for crowding out other assets. take a listen. >> i think we are getting to the point where we are getting a crowding out effect, where treasury borrowings are becoming so large it is making it more and more difficult for other borrowers to get access to capital. jonathan: mary, are we at that point? mary: we ha

a single this is a special feature because this engine was only installed in the market and that daimler dart otherwise they only had six cylinder engines of two point six three point four three point eight leaders displacement it feel like i'm off. it's time to get the best view given some grand finale is a parade of more than three hundred classic cars in the town center. thousands of on lookers gather along the route. many drivers are dressed to call. if if they're on a little zero and there are even lots of two wheelers in the parade. whether as a participant or a spectator at their own bar classics everyone shares their passion for old treasures on wheels. next time i'm driving porsche it goes electric we kissed the panamera for hybrid sports to reach most. common. and young automotive engineers on the track at hockenheim show off their designs and the formula student germany. she craves as vegetables come across in greenhouses across spain and its new look. conditions alexandra said. despite the danger is an existence decided to avoid the sometimes is the most involved how far can

daimler is pushing smart cars.rg has learned that google is in talks with tencent and other chinese companies to offer its cloud services. the talks began earlier this year and google has narrowed its partnership candidates to three companies. one -- are wondering when they will get benefit of the berkshire hathaway shares. 111en buffett is sitting on billion dollars. the strength of the results may make a buy back to expensive. that's your bloomberg business flash. david: we will turn to the wall street beat where we cover three things that wall street is a zing with this morning. first is indra nooyi steps down. she plans to end her 12 year run at pepsi. jim esposito is close to being the goldman ceo. york: we go to our new bureau chief. down.nooyi is stepping we were trying to do the count of female ceos in the s&p 500 because it's dwindling. leftr sure, ursula burns her post recently. as you look around at whose left, the ceo of oracle and mary barro of course and then you of, -- you play this game it's notable

my point is simply that a host of european companies, for example, i could quote you daimler, total, the shipping company, or peugeot, all of these companies have either abandoned plans or really rowed back on plans to invest or put new monies into their iranian ventures because of the power of the us economy and the signal sent from washington that any business is now doing deals with iran will come under very close scrutiny and suffer consequences from the united states. the power of the us economy is something you guys seem to have underestimated. i don't think anyone in iran underestimates it. the fact that trump is behaving like a mafia boss is nothing to be proud of, and it's nothing to be proud of when a country is ordered by the united states not to co—operate with another country. that's what i was trying to say. iran is in a hole, and we can see it from the plunge in your currency to the abandonment ofjoint—venture deals and european investment. we can see it in the oil business, we're about to see it more in the shipping business as well, because let's not forget, phase on

are sort of companies operating in the financial sector where they have bank or commerce bank or daimlerbenz because they've got interests in the usa and they were doing business in iran has there have a potential to be penalized and hence they have sort of come out of business you know there are over one hundred companies which have decided over the last three months not to engage with business in iran however if you sort of follow the full statement of fredricka mug really and assistant what they were talking about is that perhaps the essay me sector in europe and this is an interesting possibility which is developing that the s m e sect a new europe may want to do business with iran because they have got no exposure to the usa and what we must realize is that in any country where this you care germany france italy is the s in the sector which creates a lot of employment for the nation and similarly the s.m.b. sector in iran is quite buoyant so there may be some convergence that could take place in the se me sector to create business opportunities however the situation that's developin

where they would affect companies like the oil giant as well as the car manufacturers renato and daimler missed out my went on in this interview he gave to one of the big sundays here in germany to say that he was in praise of the deal that is being done between european commission president jiang claude younker and donald trump but did say that there are big concerns over the future of trade between the e.u. and the us and there were those are concerns that have been echoed by e.u. leaders. visit but. they were quick to flee and accept. the measures carries a threat of a spiral of escalation that will result in damaging everyone nobody wins in a trade war there are only casualties loving your response would be united is that it was we will take measures to prevent a mistake by the united states we are imposing on the fridge our tariffs for every two hours where the against can. well also in donald trump's tower of crosshairs is being turkey this is after they didn't meet a deadline that was set by washington of wednesday last week to release a u.s. pastored it's been held in turkey on w

daimler staff sit on but what does that matter. even if dr gerbils is deposed in operation dandelion is cancelled they will still exist the black shirts the part-i this. seems if not in the orient than somewhere else on mars and venus we can only hope and try. we do not have the ideal world such as we would like for morality is easy because cognition is easy where one can do right with no effort because he can detect the obvious. he wanted to show that one cannot see his did in world war two was not unique and it could happen anywhere at any time and more specifically in the united states after president kennedy was assassinated and want to cause more acutely to downtown that attempt to conduct the work phil was a very empathic human being and unlike most of us when something bad happened he reacted to it very strongly. to the understood the impact with the kennedy's assassination with saddam's assassination he recognized that blood would flow to the war demonstrators protest u.s. involvement in the vietnam war and mass marchers ra

european carmakers led by bmw also mercedes-benz maker daimler, they also export a lot of cars from here to there. must bekers hats exploding. had they done the calculations on what that might mean for their bottom line if both sides were to agree to scrap tariffs? >> i think it is a little bit too early for that. out and only just came this is just one thing that has come from the eu side so far. the talks with the u.s. on this matter haven't even started. not gotten a date for talks to take place yet. tariff.moving 2.5% what it eventually means for the bottom line of those carmakers is hard to say because they also tend to pass on any price drops to their consumers. >> thank you. let's keep talking trade. the u.s. and canada are continuing nafta talks. we spoke to reporters earlier. encouragednue to be by the constructive atmosphere that i think both countries are bringing to the table. and ais a lot of goodwill lot of we are trying to do. and a short. of time we are working very intensely. >> president trump has given canada until tomorrow to strike a deal. it seems like it's wrong po

daimler is freezing operations in iran.hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. haidi: thanks for that. off aceo elon musk set storm after saying he's considering taking the company private. in in in l2 employees -- an ema il to employees, musk said he wanted to operate with as little disruption as possible. the price of $420 a share what -- would value the company at $82 billion. musk owns about 20% at the moment. he says either way he would not be selling. of's bring in the head technology research, joining us from new jersey. we have come to expect drama and skepticism in equal parts when it comes to tesla and anything elon musk touches. is this something that is feasible, likely to happen? >> that's the big question. i mean, that's going to be the big question in the bull/bear debate, can they get the financing to secure a transaction of this magnitude? the sequence of events, it was a job drop or, even to the -- jaw- dropp

year's operating profit, that's about 3% we think the real number will be lower because both ceos of daimlersay they can act flexible and in a nimble way to increase production locally in china. that's the perfect example of protectionism. mercedes produces about 60% of the cars they sell in china, they produce locally, and we expect that number to increase in the light of further tariffs. >> isn't it your understanding from that meeting between trump and juncker that they will work towards reduction of tariffs and there will be no further auto tariffs. shouldn't the assumption be no tariffs will be applied as far as autos are concerned >> it's different between u.s. and europe probably one day we will look at zero tariffs but we cannot count on that. it's a different situation overall it's a different scenario for u.s./china. there can be a very good outcome. >> one irony is the plants in alabama and other parts of the u.s. were introduced by some of these automakers to try to avoid initial u.s. tariffs as part of the agreement that exists between the european union and the u.s. the idea th

maria: are you just mentioned daimler to maker of mercedes-benz, dropping plans to expand business with companies to do the same? >> well many of the european companions already have we expect more to do so the europeans thought for a while we were giving waivers of american technology other waivers to allow them to continue doing business, in iran, i think we have made it clear, that exceptions waivers will be few and far between. so you know there is a book written a couple decades ago i think the six stages of grief or something like that, first comes denial then anger, ends with acceptance, the european governments i think modifying towards acceptance some more reluctantly to be sure. >> i want to ask about north korea just to be clear if there are european companies that blow off the fact that the u.s. has put back these sanctions in place you will sanitation those european companies. >> they will not be doing business in united states be clear i think shareholders of companies a contemplating doing business with iran ought to ask managements why do you want to do business with wor

that delay is bolstering shares of several european automakers volkswagon, daimler, bmw, usual suspects up by more than a percent or so as secretary ross declined to set a new timetable for the study's completion meanwhile, glaxo smith klein attracted new buyers for the indian based nutrition business. they've joined several food and consumer product companies in the running, including nestle, pepsico. they started a strategic review in march seeking initial bids by mid september for the business which is expected to fetch more than $4 billion shares of gsk were higher, as much as 3% since have come down off some of those highs, jon back to you. >> thanks. let's stay at hq and go to sue herera for a news update. >> good morning, jon and good morning, everyone. >>> a speech by afghan's president interrupted by two taliban rockets fired towards the presidential palace. one landed near the palace, another landed near the u.s. embassy in kabul no injuries were reported. >>> the eagles greatest hits album has officially surpassed michael jackson's "thriller" as best selling u.s. album of all

states saying they won't do business in tehran anymore for example french automakers like citron even daimler so we expect that because the united states still holds the reserve currency the u.s. dollar having that clout is something that is forcing business leaders at least to listen to what the u.s. is saying reconsider their business relationships even if diplomats are not and kimberly i guess another way of looking at this from troubles perspective is that this is simply america first in action and that was a campaign promise. absolutely the u.s. president and the campaign trail that he did not like this agreement felt was a very bad in his words one sided agreement what he means by that perhaps it's an oversimplification but the trumpet ministration position is that the j c p a way which the united states withdrew from in may that's the the agreement that was negotiated by the united states iran other world powers to live in iran's nuclear program the feeling is of the united states that it just didn't go far enough that it only addressed the nuclear problem but not what the united state

daimler is freezing operations in iran.overnment projections say the australian population has broken 25 million. bureau of statistics says the milestone was reached just after 2:00 p.m. sydney time. the number of aussies has doubled since 1970, sixfold since 1901. global news 24 hours a day, on air and on twitter powered by more than 2700 journalists and analysts in over 120 countries. i am jessica summers. this is bloomberg. haidi: thank you for that. still ahead, will turkey's economic troubles force it to take desperate measures? a global analyst talks about us the risks of strained ties from the u.s. ramy: the s&p 500 hits it highest level since january despite rising trade tensions. we will dig into what is driving the gains with dennis gartman. this is bloomberg. ♪ haidi: we are counting down to the open in sydney. this is how futures are looking, pretty flat. on holding the decision interest rates at 1.5%, a record low for now. a pretty sobering delivery of the outlook for china growth, as well as global growth from

daimler will make battery-powered cars in china with a local partner.will set up a joint venture to manufacture the smart car brand. daimler is pushing smart cars where places were parking and emissions are becoming a problem. goldman sachs has named a cochair of the trading arm, jim esposito running the unit. he is based in london and currently the co-chief operating officer of fixed income trading. that is your business flash update. come -- chewing gum to medical marijuana, making a big investment in cannabis startup. that is next on bloomberg. ♪ shery: live from new york -- vonnie: live from new york, this is bloomberg markets. shery: marijuana is getting a prominent investor. they made a fortune in chewing gum and making a bet on the marijuana industry with a sizable investment. our bloomberg reporter is here with the story. where in the industry are they putting their money? >> into a company that operates in florida with 10 medical dispensaries. they have a license to operate in texas. they are just getting started on medical. this is a bet on me