ed ludlow can take us into the details. the numbers speak for themselves, make a cap falling -- mega cap falling. apple and amazon. amazon morning higher input costs labor. what is interesting, both stocks down by 2%. earlier, amazon was down as much as 5%, biggest drop since july, and apple down by the most since march, but both stocks recovering. some green on the screen. look at this chart. we have a new king. microsoft now the world's most viable company by market cap, overtaking apple on the but also microsoft has had a great run, it's 11th consecutive quarter of beating estimates. let's talk about the company formerly known as facebook. over five days, down. we get this drop off in earnings, concern about advertising linked to apple's changing. somebody pulled a canvas sheet off the sign and facebook has a new name. the stock was higher for the last two sessions. we will go through it later in the show. the question is, how long does the transition take, and how long until meta makes money on the meta-verse. what a mo

his name is ed kemper.e coed killer from the newspapers because his primary victims were coeds associated with the university of california at santa cruz. - in the early 1970s, santa cruz was extremely tense. to be a woman during this time period would have been extremely scary. - it's not far from here that just a week ago today, four more bodies were discovered in a connected series of murders that now numbers at least 10. - bodies were appearing everywhere. people went missing. bodies were coming up in the ocean. - the area in and around the campus had become a killer's hunting ground. ed kemper was identified only after he confessed and he was the first serial killer i ever interviewed face-to-face for the fbi's behavioral sciences unit. his crimes were some of the most grisly i had ever seen and i wanted to know how and why he chose his victims and what made him tick. i need to know the fantasy and how it begins, and why it begins, and how could someone commit such a horrific crime against others? and

ed: i may overstay my welcome, so beware.le ask me, do you put money into the market now, i tell them it is not exactly early in the bull market, and valuations are stretched for sure. but i think in terms of the long run, earnings are going to grow 6% to 8% at least. he might actually be able to do better because the margins have been so strong. valuations probably are about as good as they are going to get, so i think the market can still continue to go up, and i think it has very much become a stock pickers market, much more so than broad-based themes. you can probably make money on a relative basis in energy and financials because bond yields are going up and oil prices are going up. jonathan: energy has been doing it, that's for sure. ed yardeni, your denny research president and chief investment strategist. i'm smiling because tom says we have to go from one important subject to another. tom, can't wait for this one, this important subject you want to talk about. tom: you're going to explain this for our audience on rad

intuit quickbooks live bookkeeping. >> on december 18, 1969, ed kemper celebrated his 21 birthday byo his release, authorities had to decide where he could live. the decision they made would have profound affects on ed and the people he would be living amongst in santa cruz. >> they did the worst thing in the world, they sent him back to mom. who does not want anything to do with him. >> you are nothing. you are nobody. you are never going to be anyone, you are a freak. >> this was root cause of ed kemper's behavior, he didn't have a chance. >> you think those pretty girls you stare at like a pervert will go out with you, you are [bleep] disgusting like your father. >> his abusive, domineering, alcoholiche mother that administrationer -- -- badgered him day in day out, this of the creation of a serial killer. >> itm was a matter of time before he started cruising santa97 cruz campus for victims, the same women his own mother told him he could not have. in the 1970s in santa cruz they were everywhere. >> a small community in the university of california santa cruz campus it brought in

ed ludlow is with us. ed: they have crossed the gantry.ou can see their boarding into the capsule. we are tracking for lift off around 10:30 eastern time from vanhorn, texas, reaching speeds of mach three, geforce three times that of earth, and go into apogee of -- is that william shatner? that is william shatner getting into that capsule. of course, captain kirk. they will experience a few men it's of weightlessness. this is an exact replication of what bezos did in july, and move towards space tourism, an industry that could reach $4 billion by july. guy: how long does it last? what will we see over the next few minutes? ed: the climb is three to four minutes. they spend two to three minutes in zero g weightlessness. they unbuckle from their seats and after a while of doing somersaults, floating around, if the mission goes successfully, they are instructed to get back into their seats because earth's graduate tatian -- earth's gravitational pull brings the capsule back down. the capsule slows down before deploying a shoot. so this is jus

ed: they can be in pretty decent control.r cut off or rationed electricity to certain industries that are heavily energy intensive, and yes, you are looking at a chart of where: min tories were in china at the beginning of winter. so you can pay the workers, but shutting the energy intensive industry, aluminum, copper, zinc that are impacted by it, that means lower rate of growth. economists have already dropped expectations of chinese growth for this quarter by 0.5%. they may have to double down on that, depending on what is going to happen in terms of industrial availability over the winter time in china. alix: i have to ask about the copper market because it is also a china story. we have seen record creation on -- record backwardation on lme. trafigura had to constrain a lot to meet client demand. is it an idiosyncratic thing, or is this what we will continually see as we go through this green energy transition? ed: copper is a particular problem in that we don't know where the supply is going to come from. the supply tha

the post-world war ii era and higher ed expanded. you can find trayce of it going back hundreds of years if not even a millennium. when we tell the stories adam smith watt offered motivation 1776 compared inefficiencies at oxford university in england to the scottishes system bred one of the things he pointed out that professors were lazy, the administrators and be operating in such a way as if they thought there was a continuous cash flow. they really did not have to deliver anything to the students. students cheated, they came to class late. ssreally did not care. a lot of the same patterns we see to it or 50 years later still taking place at the university system. >> host: and 2021 is a four-year college degree necessary for good job anymore? what does it get you? >> guest: i would say that depends quite a bit on the field. if you look at the returns of certain college degrees like engineering, math and the stem field, the lifetime clear earnings are well worth it on getting the college degree. and the other end of that there are

>> o'donnell: ed o'keefe joins us now from the white house. all right, ed, with the democrats in disarray, what does this mean for the president's big foreign trip? >> reporter: well, he's scheduled to leave thursday morning for europe, norah, and then meet with pope francis on friday before attending the g-20 summit over the weekend in rome. but aides don't rule out him delaying his departure, especially if there's a chance of a handshake agreement before he goes. norah. >> o'donnell: down to the deadline. ed o'keefe, thank you. we want to turn now to a nationwide increase in violent crime. the f.b.i. has reported that homicides rose at their fastest rate in at least six decades last year. the vast majority committed with a gun. president biden promised new gun safety measures, but that promise suffered a major setback last month after his top choice to lead the bureau of alcohol, tobacco, and firearms was blocked in the u.s. senate. tonight, that nominee, david chipman is speaking out in a cbs news exclusive. >> i have, from 25 years as an a

emily: ed ludlow, thank you so much.ater, we will speak with nicola mendelssohn, vice president of facebook's technology group. kriti gupta joins us. how did the markets take it? kriti: positive on the day, but let's take a step back as we see the months where facebook has been trying to deal with apple advertising woes, growth concerns, and of course, that whistleblower testimony. what i really want to point out though is what this new move is going to do to the bottom line. $27 billion, that is how much they are expected to jump in costs in 2022. for perspective, that is one quarter of facebook's annual revenue. i want to go ahead to the earnings story, because facebook is not the only mover of the day. we have apple and amazon earnings. amazon down 4.3% after hours with it, or holiday sales forecast -- with a poor holiday sales forecast. they will have to hire more holiday workers and that will cut into their profits. -- attributing it to supply chain concerns and the fact that they will have to hire even more deliver

ed: the spot story is apple.the breaking news on tuesday that apple is trimming targets by 10 million units because of components and constraints. big suppliers on wednesday, japan gets 54% of its revenue from apple, down 3%. other suppliers lower. what is fascinating if you come back in u.s. trading, the two key suppliers named in the bloomberg scoop, broadcom and texas instruments, also lower on wednesday. texas instruments faring worse, down .7%. broadcom had pared the losses 2.1 percent. it is interesting what we are seeing across wall street is revisions and earning expectations. the s&p 500 is on the final board and it is saying even though yields and rates have increased higher, we have revised expectations for the third quarter and the i.t. sector up .3%. expectations overall are revised downwards across the s&p 500 by four -- .4%. those industries are the most sensitive. supply chain constraints are worried by the marketplace about rising costs. emily: all right. thank you for holding down the fort. we w

ed: the market is fading the fed's strategy.e bringing it forward far before we have any evidence on the table that we will achieve that max employment bogey by the middle of next year and that the inflation story is becoming entrenched. this is counter to what they told us at the last foc meeting. this is aggressive push back by the market against the feds. inflation is significantly higher today. the market is. did that for some reason why not break down inflation in the future. jonathan: let's talk about how we resolve that. every theory needs a test in the real world. a test would be year end turning into '22. where is the test? we cannot keep sitting here using the t word. ed: the test is towards the end of next year. it is a three-part test, the fed. it is maximum employment, which remains important. that okie is difficult to meet in the coming months -- bogey is difficult to meet in the coming months. and inflation is likely to stay a little above 2% in the future. the first half of next year. lisa: it has been one month

jen ed are these classes everybody takes. there is roughly about a third of the college experience for the typical students. that is your intro to english, intro to get a well-rounded education. over many, many decades they have accrued in such a way a lot of these classes in the way of content but we look at the book at some survey data where they ask incoming freshman basic questions about knowledge and critical thinking. two years later after the end of their sophomore they asked the same questions there's basically no difference on the amount of materials they learn paid no improvement at critical thinking skills. these are all from the years they spend in college taking the jen and classes. so he asked the question why are remaking students take multiple into tens of thousands of dollars taking mandatory classes for getting a degree and they aren't not learning much in those classes. they have figured a way to lobby the curriculum to make their classes mandatory what is that mean? you can hire more faculty, the english d

ed: this is a fascinating look under the hood.1 billion net loss in the first half of this year is the eye-catching thing, but we know rivian has been hiring like crazy. they have been desperately sprinting to start production, bring in machinery. we know it has around 48,000 reservations for both its pickup truck and suv. maybe we were expecting more. this is a fascinating look at a company with an eye watering valuation, by comparison, ford has 150,000 reservations. demand is not what we thought, but a lot learned. emily: a lot of excitement around rivian is tied to amazon. what do we know about the relationship between the two companies? ed: amazon has excellent civic. in other words, rivian can only sell for a period of four years. amazon also has the first right of refusal on all of the vans rivian builds. according to the contract, amazon does not have to buy any at all. the ball is in their court. it is weighted heavily in amazon's favor. because he reported, the $80 billion valuation, a big part of that is because amazon i

matt: paul sweeney, ed ludlow talking about facebook.erformed over the past five years. we will hear from facebook's business group vp at 5:00. this is bloomberg. ♪ this halloween, xfinity rewards is offering up some spooky-good perks. like the chance to win a universal parks & resorts trip to hollywood or orlando to attend halloween horror nights. or xfinity rewards members, get the inside scoop on halloween kills. just say "watch with" into your voice remote for an exclusive live stream with jamie lee curtis. a q&a with me! join for free on the xfinity app. our thanks your rewards. moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers at xfinity.com/moving. announcer: the most crucial mom

and in london, ed cross curator galleries and owner of ed cross fine art, a warm welcome to you all. and thanks for being with us today on inside story cynita, let me start with you. jesus college of course, has become the 1st institution in the u. k. to return a, been in bronze, i want you to talk our audience through just how significant a step that was and what it means to you and your colleagues. well, i think it. thank you, ma'am. it is in the world to return a bronze. it was very, very journey of the restitution, of course, began in 2016 when some students noticed that the plaque at the bottom of the offer was the resigning in the board of jesus in 2019. we had a policy that looked at the historical, the legal framework by which the could come to the college, $1005.00. and then when i became austin october, 2019, it was the 1st lived on the agenda for society meeting recently the whole front of ship it from the, from the teacher. the last it's college to someone who's been there the longest. and it was very unanimous decision that frankly, it was, it was wrong that we had it an

ed ludlow is here with this coup. a lot of people want to know when they can get one.to sit on a multiyear long waiting list. what is going on? ed: they are running this three ring circus where it has its own pickup and suv and the amazon man trying to happen at the same time. now it is kind of running at a steady rate. sources tell us rivian's shifting resources to amazon because frankly amazon is one of its biggest investors. this is an important order amazon has made. we understand 300 will be delivered this year and the rest of the 100,000 in the next decade. there is a lot of pressure and they can't do it all at once. we are hearing now that amazon is the priority. emily: tell us about how amazon and jeff bezos got into them because it made a difference to the company's future prospects. ed: in 2018, rivian was in stealth mode. they hired a production company to film some video. pete berg contracted with blackhawk aviation, owned by lauren sanchez and they shot this material that was designed to be shown at the l.a. auto show that no member when rivian would have

ed: it is interesting. blue origin, we know from bloomberg reporting, from other media reports, internally, the engineering teams are under intense pressure to ramp up activity. jeff bezos over the last two years has not been happy at the rate of launch that blue origin has been deploying forget that is not just with this space tourism product, but across all business areas we discussed a moment ago. it is really hard to gauge the demand. ubs says this could be a $4 billion industry by 2030. that seems like not that much money and quite a way off, but they based then analysis on an assessment of existing luxury experience. for example, taking a helicopter to the top of a mountain, jumping off and skiing down. it is hard to gauge who the target customer is beyond billionaires, beyond highly paid executives. to be fair, that is all we have seen to date. we keep going back to this is a rich man's sport. that said, with volume and frequency comes scale, and the economics of scale further improve the cost of goi

ed hammond broke the story for us. can i bring ed in? can you hear me? he probably cannot hear you.u learn from it? ed: i can tell you about the story because we just put it out there. paypal expressed interest in acquiring pinterest. they are thinking around $70 a share, which would be a premium based on what they are trading today but it depends on where they are doing in recent years. the logic of this is an interesting one. and put the tweet out sing this is happening, responses were question marks. i'm not an expert in this space, but i do know there is a decent amount of e-commerce at pinterest and paypal is sort of this gigantic payments business now looking to expand wherever it can. guy: i was talking a moment to go about the fact that large tech deals are likely to come under scrutiny. would this? ed: it probably would come under scrutiny. i do not think of paypal as big tech and the way we think of facebook or google. regulators will look at something of this size, but they are not necessarily going to come down on it the way they might a company that has huge social infl

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ed o'keefe, what is is in it? >> reporter: focused on areas to scale back and win the support of joe manchin and kyrsten sinema. working to ensure four weeks of planned family leave rather than 12. and considering vouchers of over $1,000 to cover dental instead of expanding medicare to cover dental and to pay for the plan, a tax on 700 billionaires. would only pay for part of the legislation. but cbs news learned that final package is expected to include $500 billion to fight climate change, a major signal of american commitment to the issue as president heads to europe where it wille talks. >>> new concerns over the health of britten'eesh canceled appear upcoming climate summit on advice of doctors. the queen now 95 years young spent time in the hospital last week. >>> facebook not the only social media in cross hairs of congress. tiktok, snapchat and youtube were warned to do more to protect children or face legislation. more from nikole killion. >> reporter: laura berman is coming to grips of death of son who g

ed: the spot story is apple.hat breaking news on tuesday that apple is tripping production targets of the iphone by 10 million units because of component constraints. big suppliers in asia fell on wednesday. japan a gets 50 -- japan gets for the 4% of its revenue from apple. down 3%. other suppliers lower. cut -- what is fascinating, the two key suppliers named, broadcom and texas instruments also lower on wednesday. texas instruments faring slightly worse, down seven tents of 1%. by the end of trading, broadcom had paired the losses to 1/10 of 1%. it is interesting what we are seeing across wall street is revisions and earning expectations. the s&p 500 is on the final board and it is saying even though yields and rates have been creeping higher, we have revised expectations for the third quarter and the i.t. sector up .3%. expectations overall are revised downwards across the s&p 500 by four tents of 1%. those industries are the most sensitive to the supply chain constraints and worries by the marketplace about

ed, what are you watching? ed: let's get to the breaking news -- apple is cutting its production target for the iphone by as many as 10 million units. the stock down by more than 1%. this isn't just about apple but the supply chain. apple telling its manufacturing partners that chip suppliers like broadcom, texas instruments are behind in getting key components to those apple handsets. it's interesting because if you look at some of the laggards on tuesday, the supply theme is commonplace. micron and western digital both down by more than 3.5%, after a report that forecast its memory chips will fall in price going into the fourth quarter and we will see a slowdown at the same time, we got data overnight about the pc market. hp down more than 4%. tutor sales grew at the slowest rate since the start of the pandemic. the wide component shortages and chip shortages, it's not just the iphone handsets still feeling the heat from the chip's shortage, but it is widespread throughout electronics. emily: moving on to dig

ed o'keefe, thank you. we want to turn now to a nationwide increase in violent crime. the f.b.i.eported that homicides rose at their fastest rate in at least six decades last year. the vast majority committed with a gun. president biden promised new gun safety measures, but that promise suffered a major setback last month after his top choice to lead the bureau of alcohol, tobacco, and firearms was blocked in the u.s. senate. tonight, that nominee, david chipman is speaking out in a cbs news exclusive. >> i have, from 25 years as an a.t.f. agent, and largely 10 years after that, committed myself to one thing-- preventing gun violence in this country. to oppose me must mean that you're not for preventing gun violence. >> o'donnell: i mean, republicans said that you oppose the second amendment, that you're radical, that you're antigun. >> i'm a concealed carry owner in virginia who swore an oath to our constitution-- and i don't mean a desk job. i mean i was on the swat team. i was in dangerous and perilous situations all the time. >> o'donnell: but it wasn't just republicans who o

>> o'donnell: ed o'keefe joins us now from the white house. all right, ed, with the democrats in disarray, what does this mean for the president's big foreign trip? >> reporter: well, he's scheduled to leave thursday morning for europe, norah, and then meet with pope francis on friday before attending the g-20 summit over the weekend in rome. but aides don't rule out him delaying his departure, especially if there's a chance of a handshake agreement before he goes. norah. >> o'donnell: down to the deadline. ed o'keefe, thank you. we want to turn now to a nationwide increase in violent crime. the f.b.i. has reported that homicides rose at their fastest rate in at least six decades last year. the vast majority committed with a gun. president biden promised new gun safety measures, but that promise suffered a major setback last month after his top choice to lead the bureau of alcohol, tobacco, and firearms was blocked in the u.s. senate. tonight, that nominee,s david chipman is speak out in a cbs news exclusive. >> i have, from 25 years as an a.t

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at the higher ed level, they are an important part of this system. you do your general ed first, and then you can get there. purdue university is a leader. they are enabling companies to send their employees to get specific training, may be not a degree, but recognizing that a certification is valuable. i think apprenticeship can help to facilitate more students taking the benefit and doing it in a way that is career aligned. >> it sounds like you put two and two together fairly quickly to get to where you are today, choosing to get into the workplace. your high school, you said they had information, and was that something recently they did to make you aware of other options other than the military, or did you have to do most of this on your own? >> for my school, we were hired out, but we were the first apprentices. there were other schools. it was like going to school and learning there. it was not working at all. most of those resources were with careerwise. there is a boot camp where they did a bunch of sections where all of the workplaces that w

we spend so much money on higher ed. i'm not against that. but my gosh, shouldn't we spend some money on actually training people to the jobs that are right there available now where they will not have a big debt. they will go right into buying a house and buying a car and being able to get the economy moving. that's what this is about. our economy post covid-19, but in this time period, needs this more than ever. i cannot tell you an employer i have talked to in ohio -- i know this is true in your states. we had a conference call this morning with the oil and gas industry in ohio. what i hear about, number one issue, workforce. number one issue. it's truck drivers. it's technicians. for the disposal wells to have some way to find people to do the work. this is a critical issue for our long-term economic health. right now, more important than ever. i do think it's about the entire economy. i'm not suggesting it's all about middle skill jobs, which is what economists call these jobs that don't require a college degree but do require advanced l

ed: you and i have discussed spac's.bviously you did a spac this year, now the spac through iron source. the spac game has been sullied by abuse from some participants, or perhaps too much energy too quickly. you said you had hoped to do another. is that something in the works? >> yes. nobody likes that word. regulator stole like it. investors told like it. we will call at some thing different. because it will be something different. we believe there should be great alignment between the spac sponsor and the investors, just like in private equity. investing real capital behind it, being the lead investor is something that we did in our deal. we believe there should be more transparency in terms of what are the returns of that spac sponsor? what are they look like? there should be more transparency in terms of how did they perform in terms of what they originally gave investors. that should be a requirement. we feel spac's are one of the great financial vehicles for absorbing this we of large software companies -- wave of

thank you so much for being here, ed. we're 48 hours from the weekend, so we're talking about the next couple of days. delta did not experience anything close to what southwest did, but surely from an operations perspective, it had to have caught your attention. what's your assessment from where you sit outside of southwest, obviously, but as to what happened there? >> first of all, great to be with you, liz. thanks for having me. we fly the same air space, based here in atlanta, so we have a large presence in florida. i think a lot of it has to do with making sure that we're very disciplined as to how we're approaching the recovery. the recovery's been very choppy over the last year, and you want to make sure you don't put more supply into the marketplace and make commitments and sell it to your customers than you can go fill. and delta's done a great job all year long with making certain that we're managing supply and demand in equilibrium. so in florida on friday, like the entire weekend, we had 20 cancellations and no

no op-ed from a self-declared independent socialist is going to change that. >> i don't have problemsy of that at all but thinks -- or anyone thinks they know west virginia and what we've done and continue to do for this country. >> reporter: manchin hearing it from both sides. >> tell joe manchin don't give in to this liberal manchin. >> if you see joe, tell him to keep up the fight, just like he's always done. >> reporter: but he feels no pressure in meeting his party's october 31st deadline. >> do you think it's possible to get this done by october 31st? >> i really don't know what the timing is. there's no rush on timing. let's do it and do it right. >> so sanders and manchin have also been sparring over the strategy to pass that $1.2 trillion infrastructure plan. manchin wants the house to ps that immediately. sanders supported a delay in order to get manchin and sinema to sign on to that safety package which has caused unease among top democrats. the number two democrat dick durbin told me there's, quote, high anxiety among democrats. he wants manchin and cinema to close the dea

norah. >> o'donnell: ed o'keefe, thank you.re new concerns tonight over the health of britain's queen elizabeth. she canceled her appearance at that upcoming climate summit that ed just mentioned on the advice of her doctors. they have given little information about her condition. the queen, now 95 years young, did spend a night in the hospital last week. all right, facebook isn't the only social media network that finds itself in the crosshairs of congress. today, executives from snapchat, tiktok, and youtube were warned to do more to protect children or face government regulation. we get more now from cbs' nikole killion. >> and you can learn. >> reporter: laura berman is still coming to grips with the loss of her 16-year-old son, sammy, who died this year from an overdose on drugs that he got through the image-sharing app snapchat. how is that possible? >> it never even occurred to me that drug dealers were soliciting our kids on the place where they hung out the most. >> reporter: traumatic incidents like berman's were amon

snap ed also includes physical activity programming. through snap ed, our nutrition partners can provide information and resources for healthy eating and physical activity tailored to the needs and interests of the clients they serve. as an example, last year a popular snap ed nutrition education topic was food safety focused on takeout meals from congregate meal sites. the physical activity programs offered through our snap ed programming includes tai chi, walk with ease, and bingo side. last year self-help offered these programs through virtual platforms. this year they plan to offer the programs outdoors as allowed by city health orders until the pandemic recedes. thank you very much for your time and consideration, and i'm happy to answer any questions you might have. >> are there any questions or comments from the commissioners? seeing none, and hopefully i haven't missed anyone, will you -- madam secretary, will you see if there are any public comments? >> absolutely. >> item b as in boy. >> agenda item b, wonderful. moderator, pl

no op-ed from a democratic socialist is going to change that. went to west virginia early on and he did not like that either. this is such an interesting dynamic at play. >> it is, and i've got to say, maybe they have some magic strategy i don't know about. but i would say just on the surface, manchin is kind of a proud of being a senator from his state. doesn't like senators from other states coming into his state to tell him what to do. if they want to lobby him privately, that's one thing. i've been working a little on the voting rights legislation. and all the advice we got -- manchin has moved and he's one of 50 democrats sponsoring that legislation. and he may even bridge the filibuster a little bit down the road, i think, chuck schumer th thinks on that. it's to have republicans and moderates. senator manchin has worked -- has modified the bill, made it responsible and get those kinds of articles in the west virginia papers and appeal to him. having bernie sanders come in and just lob this little grenade in his state. bernie sanders is fr

ed ludlow, menlo park, california. david: every ago, ed ludlow.bably noticed about his left shoulder was the logo. we are seeing mixed reaction. it has really just gone viral on social media, positive and negative scores. first is the question, how do we change faang? [laughter] i think this graphic make sure you this. yvonne: people in the newsroom were saying maybe maaang? mango? or just manga? [laughter] a lot of questions, does it matter, does it change anything, does it fix the public backlash facebook has been dealing with? a very interesting as to whether it actually changes the image of the company. david: rebranding yourself is a step, or an attempt. we will see how they managed to do it. the image first. but the breakdown of the business itself, when you look at the revenue breakdown over the years -- i could change my name to gilbert. yvonne: and what does it mean for the metaverse? [laughter] you friend someone in a metaverse and then you -- i don't know. it seems far-fetched to me, we will see how it plays out. talking about earnings

ed o'keefe, thank you.ht, tens of millions of people in the west are bracing for another wave of severe storms. parts of the bay area got eight inches of rain in recent days, and up to four more inches are expected sunday into tuesday. wildfire burn areas could see mudslides. huge waves will pound the coast of the pacific northwest. and, the sierra could get up to seven feet of snow. all right, tonight, new signs that congressional democrats may be nearing an agreement on president biden's "build back better" plan. house speaker nancy pelosi says they are 90% of the way there, and she hopes to hold a vote next week. but a key part of the plan is universal pre-kindergarten. our cbs news poll shows two-thirds of americans support federal funding for it. but, it comes with a big price tag. democrats originally set aside $450 billion for pre-k and child care subsidies, but supporters claim the pay-off would be invaluable. here's cbs' nancy cordes. >> reporter: four-year-old dahlia scoots to school in downtown d

neil: why is that, ed?e of thing hasn't changed. in fact, costs have gone up a little bit because the supply of water in the western areas where a great amount of produce is produced. then you've got a huge issue of transportation. when biden got elected back in january before he was -- november before he was even inaugurated, he said he was going to shut down the pipeline and disrupt the oil industry. that means nothing but increases in prices of transportation. so cost of getting goods across the united states has gone up very, very quickly. the price of fuel is going crazy. even on cargo ships, the price of bunker seed to fire those boilers and keep those things moving has gone up. that's immediate, it's right now. and it's reflected in the price of the products when they finally get to your kitchen table or into a restaurant. neil: that's a very good point, especially if one of those products is your life blood. the festival owner in new york city has a question on this very issue. take a look. >> my qu

in an op-ed last year for the "new york times," former u.s.t christopher richardson described the myriad of ways in which the state department has ignored its own racial history. by continuing to allow, quote, as he wrote it, an entrenched system of white supremacy to control the advancement and promotion of black employees. secretary of state, tony blinken, swore to remedy the diversity gap upon assuming office, saying, quote, he is 100% committed to equity and inclusion in the state department's ranks. but according to some u.s. din diplomats, that change is not coming fast enough and tensions are growing, particularly among younger employees who fear that senior officials are treating the crisis, quote, with band-aids. with me now is former u.s. diplomat, christopher richardson, who wrote that piece. christopher, thanks for joining us on this. we really appreciate it. i guess i first just want to start with your experience at the state department. what inspired you to write that piece? >> i think for me, in the wake of george floyd, there w

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and now, live on tape from the ed sullivan theater in new york city, it's stephen colbert! ( cheers and applause ) ♪ ♪ ♪ >> stephen: beautiful. hey! there you go! ♪ ♪ ♪ ( cheers and applause )

ed: this idea was first reported october 19.rs have had time to digest and they've been commenting this is not sweeping around -- sweeping under the rug . the corporate structure is the same. how the business is run is the same. what is this actually change? emily: we shall see. thank you for your reporting today. that does it for this edition of bloomberg technology. tomorrow, we will be joined by the microstrategy ceo. i'm emily chang in san francisco and this is bloomberg. ♪ haidi: good morning. shery: good evening from new york. tech shares tumble in late trading after results from apple and amazon disappoint. haidi: rebranding at

>> we came up with the term busy bully, my coauthor, james harrigan, and i, in writing op eds about these topics. what happened in philadelphia, this was perhaps a year and a half to two years ago, the city council there decided that teenagers were drinking too much sugary drinks, so they're going to impose a 30% tax on sugary drinks. why? because the city council, the busy bullies, decided that other people should live the way that they believe they should live. and what happened, interestingly, is sales of sugary drinks dropped tremendously following this tax. and people who were proponents of the tax pointed to it and said, look, this is exactly what we had in mind. you put a tax on things like coke and pepsi and mountain dew and this sort of thing, and what happens, people will buy less of it, to which economists replied, hang on a second. i thought your concern was how much sugary drinks people were drinking, to which the proponents said, look, if sales of sugary drinks have declined, clearly people are drinking less. some economists went and did studies. what they found was that con

haidi: ed ludlow with the latest on tech.egulators are voting to chancel -- cancel china telecom's bid to upgrade. national security is a reason that has been given. coorespon -- correspondent: the sec, 4-0, decided to revoke permission to operate in the united states good china telecom was held for more than two decades and they thought it secured -- concerned security in the u.s. and the chairwoman of the sec said that because it state of access with the heads of the chinese government, this poses a risk of surveillance and misrouted traffic through chinese servers for no reason. that is a step taken today and chinese telephone companies may go through a similar travail with the fcc. kathleen: interesting that the biden administration is following on the footsteps of something that the trump administration started with huawei. who do you see being targeted next and clearly this is something the chinese government is not going to appreciate. todd: i talked to an analyst today who said a big takeaway is if attitudes remain th

ed mullins, seen there, had been the president since 2002. mullins visited him at the white house just after trump's first impeachment. he's been a fairly regular guest on fox news defending police conduct and arguing that officers should be allowed to use things like chokeholds in arrests. >> the head lock is the very same law that city council speaker cory johnson and mayor de blasio are trying to implement where if the police officer did that, he would be arrested. they are tying the hands of the police officers. they do not want us to be out there making these arrests. >> you might have seen directly behind mullins in that interview -- maybe you didn't notice but the internet certainly did -- a mug with the qanon logo on it, the conspiracy that the world is run by child abusing elites, mostly democrats. mullins says it wasn't his office, even though he's done multiple other interview from the location. mullins was under internal investigation by the nypd after he tweeted in 2021 mayor de blasio, the amembers of the netflixed with are decl

ed miliband. i want to reassure both _ delaying it. ed miliband. the right honourable gentleman to - decade? well, i welcome the right honourable gentleman to his - decade? well, i welcome the right| honourable gentleman to his place, andindeed honourable gentleman to his place, and indeed i think i think the house will extend our similar thinks to the leader of the opposition, i hope he returns soon. it is, of course, correct, mr speaker, that cop26 is both unbelievably important for our planet, but also very difficult, and it is in the balance, mr speaker, and he is right in what he says about the need to keep 1.5 degrees alive, and that will be and it does depend on what happens this decade, it depends on the commitment that are made. all i will say mr speaker is already substantial commitments under the uk presidency, presidency of cop have been achieved and we have moved o from only 30% of the global economy committed to a net zero by the middle of the century to 80% and every day as i talk to international leaders, we hear further commitment