tom: i beef with ed ludlow -- iva feed with ed ludlow. he just got on a bike.will hopefully drop by and have more for us. the former vice chairman of the fed with david westin at 12:00. good morning. ♪ look...if your wireless carrier was a guy, you'd leave him tomorrow. not very flexible. not great at saving. you deserve better - xfinity mobile. now, they have unlimited for just $30 a month. $30 dollars. and they're number 1 in customer satisfaction. his number? delete it. deleting it. so break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile.com/mysavings or visit an xfinity store to learn how our switch squad makes it easy to switch and save hundreds. jonathan: from new york city for our audience worldwide, good morning, good morning. equity futures advanced but the 10 year yield gets the headline. a break of 1.30. the countdown to the open starts now. >> everything you need to get set for the start of u.s. trading. this is "bloomberg: the open" with jonathan ferro. ♪ jonathan: from new york, we begin with the b

ed: i am ed ludlow with the first word news.c is picking up steam across the globe amid the spread of the delta variant. the number of cases in the u.s. surged by 62% over the previous week. fatalities have stayed relatively low in the u.s., u.k., and spain due to high vaccine coverage while deaths are soaring in india, brazil, and indonesia. americans are urged to avoid travel to spain due to very high levels of covid-19. the centers for disease control and prevention has boosted the travel warning for spain to the highest level as cases climb. the philippine president made his final address to congress today. he pushed for opening the economy to more foreign investment. he also pledged pandemic support to help businesses bounce back and defended his criticized drug war. on the eve of his speech, protesters took to the streets and left-wing activists hung a huge banner that read

ed ludlow has the story from the launch site from van, texas. goes to plan, it will propel jeff bezos, mark bezos, and others up towards 62 miles above earth as they approach the cap soul to 66 miles above earth. it is not far enough to escape earth's gravitational pull so the capsule after a few minutes of weightlessness will start falling back down to earth using its own air resistance to slow itself down. there will be drive shoots fired and as it nears the earth, three large parachutes will deployed with a sudden burst of air just before the capsule hits the ground. as of monday evening, they completed their brief two day training. for blue origin, it is a substantial step forward in what has been slow progress. he acquired the land here in west texas for the blue origin site in 2005. it was not built until 2014. in that time what happened is spacex has leaped from blue origin in terms of technology. it has won most of the commercial contracts from private sector partners and blue origin want to catch up, providing paying customers just a fe

bloomberg's ed ludlow joins us now from the new mexico desert. time, virgin galactic stock sinking today. more shares being issued. go to space, get the hype, then issue shares. ed: but the answer was in richard branson's words, build more spaceships. i spoke also to the ceo michael cohen glacier. the whole act -- michael colglazier. this is a supply constrained business. it sold 600 tickets at $250,000 a pop. if they launch in early 2022, they are going to have to do 100 missions that year with one single spaceship. that seems unlikely. they want virgin galactic to build a factory here in new mexico and create jobs, but all of that seems far away. it is a capital-intensive business, and it gives you an idea of the timeline of how real this is, how far away it is from being commercially deployed. guy: what does the branson trip change? what does it accelerate? how big of an impact is this going to have? he loves the publicity, but he does it for a reason. ed: 100%, this was a marketing exercise. the wall street notes all say that. i don't even th

joining us with the details, ed ludlow. such a heartwarming video. w about wally funk? she was training as an astronaut 60 years ago and she never got to go to space. ed: at 82 years old, she will be the oldest person to go to space. she was part of the mercury 13. an initiative by nasa to prove women could go into space alongside male astronaut colleagues. it was shut down. she never did go into space despite completing the official training. she flew more than 19,000 hours as a pilot. and to top 3000 people how to fly. -- taught 3000 people how to fly. now being able to do it at 82, even if only for a few minutes. emily: talk to us about what these astronauts are doing. has she been eating her ladies? -- wheaties? what is jeff bezos eating for breakfast? ed: we don't really know. we know they are going to turn up three days ahead of the launch. blue origin told me all of the astronauts, pilots, are compliant with the requirement lou origin has set. has wally funk passed the medical question mark have the other astronauts? that is what blue origin to

ed ludlow -- weighed on that. ed ludlow, the u.s. bright spot for starbucks but china lagging behind. what is going on? ed: in the same period a year ago, starbucks got this value-added tax exemption in china so that distorted the most recent period's earnings but they also downgraded their outlook for full year fiscal 2021 and executives on the call were saying that the recovery in china was nonlinear. in other words, as you know, consumers and china have been cautious. even within improvement in the global pandemic, they have been cautious in terms of spending, cautious to return to pre-pandemic norms. while the outlook long-term for china, starbucks remains bullish. in the short-term, it is not clear what will be a driver of growth for them because it is not operating in the same way or recovering in the same way it has been in the united states. haidi: it is a big problem because they spent so much on expanding and the chinese market. what kind of a path forward is there post-pandemic? ed: it is the second most important market.

ed ludlow joins us out of san francisco. what was the highlight for you? >> this was the most candid tesla and elon musk have ever been about supply chain issues, especially semiconductor shortages. after that record level of deliveries in the second quarter, they are getting better at building the cars. margins are growing, despite the highest margin lines being down for a significant period of february. the chip shortage was a concern. we saw elon musk saying just that. [no audio] >> this is out of our control, essentially. it does seem like it is getting better, but it is hard to predict. ed: he was talking about specifically, they did not have chips for the airbag systems. even though we reported tesla can be number, elon musk is reporting even if you find an alternative chip supplier, you have to rewrite the code for that chip, which takes time. it took a lot of midnight phone calls to suppliers to react to the shortage and impacted their ability to produce cars. >> those chip leadtimes not getting any better. what are analysts saying about tesla's ea

for more on the latest of what is happening on the ground, the dealmaking, ed ludlow. covery, the deal that was done previously. what deals are brewing up now, do we know? ed: the narrative is around which media companies need to invest in content. a lot of the discussion, a lot of people cite amazon as a wake-up call that if you don't scale the business, if you don't invest in content and different properties, then you will be left behind. the obvious target is viacomcbs and paramount plus, the service is a bit behind the pecking order of others. then there is comcast and its streaming as well. beyond that, a lot of this is not just about m&a specifically, it is about other deals -- financing, corridor talk, where bankers meet and plot their future plans. caroline: we can see the pictures of the plotting and discussing. any interesting conversations that you can see happening? any awkward conversations that you can see happening? ed: yes, especially with all the news flow. antitrust news in the news cycle at the moment. you also have news about the jedi contract. we ha

ed ludlow has the story from the launch site itself which is in van horn, texas. to plan, it will generate 110,000 pounds of thrust propelling jeff and mark bezos up towards the common line, 62 miles above earth as they approach, the booster will separate from the capsule. it will carry on beyond the common line to 66 miles above earth. it's not far enough to escape earth's graphtational pull, so the capsule after a few minutes of weightlessness for the astronauts will start falling back down to earth using its own air resistance to slow itself down. there will be some drag chutes fired. as it nears the three large pair chutes will deploy with a sudden burst of air from the air thruster just the capsule hits the ground. as of money evening, they completed their brief two-day training, as with any launch, weather in west texas in the summer is a factor. for blue origin, a substantive step forward in slow progress. jeff bezos founded the company in 2000, he acquired the land in 2005. it was not built under 2014. in that time, what's happened is spacex has leapfrogged

it is the ed ludlow way. ow as you're moving down to the bezos cape canaveral you have to be singing jimmy buffett's hello texas. ed: you cannot see it but i have a brand i will not name pickup truck over my left shoulder. lisa: [laughter] tom: why did we know that? it is dramatic. from sun valley to las cruces, down i 10, somewhere past el paso to texas for mr. bezos july 20. lisa: i am struck by this idea of the public private aspect of space exploration. the id the public sector does need to get behind this in some capacity. there is an intricate connection between the two being driven by the private sector. you asked the right question. will these private companies get us to mars. are they going to be at the forefront of the next scientific development. the cold war product that led to space travel, whether this can be generated by the private sector today. tom: to meet what it is is about the physical risk. these people are testing risk, complete underestimation about the risk involved in ma'am spacefligh

ed ludlow, thank you so much. of richard branson and his crewmates going into space or whatever you call it. that does it for this edition of "bloomberg technology." stay tuned for "wall street week." this is bloomberg. ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me, it works 100%. (announcer) think it'll break on you? think again! even a jeep can't burst it. give the aerotrainer a shot. pain and stress is

ed ludlow, thank you so much. get out of that heat. want to talk about elon musk for another reason. he was at a course in wilmington, delaware defending tesla's to billion-dollar acquisition of solarcity. he said it was not a bailout of the solar provider. he responded to a question from his own lawyer saying he definitely did not have any sway over the board when it approved the deal. the plaintiffs have argued he did exercise control for his own personal benefit. also, elon musk said he never wanted to be the ceo of tesla he just had to be. very interesting story to follow. coming up, another interesting story today. the ecb's strategy shift. our exclusive conversation with christine lagarde. that's next. this is bloomberg. ♪ ♪ kailey: this is "fbloomberg markets." i am kailey leinz. christine lagarde says they should prepare for new guidance on monetary stimulus and fresh measures could be brought in next year. she caught up with my coanchor francine lacqua over the weekend. >> we have a framework. we have a new framework that is u

joining us for what is happening on the ground is ed ludlow. s a place where the wealthiest and most powerful people come. i guess this is sort of the summer davos, is that fair? ed: yeah, summer camp for billionaires, when they all broke -- all come up in their suvs because there were hugs because the conference did not take place because of covid. they're really strict covid rules here that each guest has to comply with. but there is also this pent-up anxiety. they are here to do business. mary barrow, ceo of gm, where she says she is here to do business. this feeling, it has been so long since these huge names have done any business in person. that is what they are going to do, as well as have a great time in beautiful sun valley. matt: she has got a lot of deals to make. it is amazing what the traditional carmakers are now branching out into. what kind of business do you see coming -- we see barry diller. obviously media and internet technology is a huge part of it. but electric cars have to be a big part as well. we see sarah -- see sarah s

bloomberg reporter ed ludlow joining us. which deals are people talking about? ng about this -- about the discovery/warner deal partly because he has been very chatty. he said they expect more deals in the space. a lot of money has already flown in in 2021. the talk is about scaling up to compete. which of the players, viacom, cbs, comcast will have to do something to compete with amazon? talking about amazon's acquisition of mgm, the maker of the james bond films. that is the talk in the media space. beyond that the chatter is about we are all back together, we've not seen each other for a long time, let's do some business. taylor: you mentioned amazon. there was a big shakeup in the tech world yesterday with microsoft may be losing some of that contract to having to share it with amazon. where are the biggest of the big? ed: this is what some of the awkward moments about sun valley are. the relationships between ceos that are not in a good space. sources tell me jeff bezos is coming from sun valley. we have also not seen microsoft ceo -- he has been invited acc

emily: joining us, ed ludlow, whose reporting on the company was cited in the indictment. they claim trevor milton from september 2019 to september 2020 when he resigned as executive chairman, lied about all aspects of the business. one example is that he said the company was producing hydrogen at a significantly lower cost than others. in fact, according to this indictment, and the parallel sec complaint, they weren't reducing any hydrogen at any cost. they couldn't do what he said they could do. emily: or even move forward. that is what the prosecutor said. ed: that was a reference to reporting we did last year. in june of 2016, nicola made an announcement and trevor stood on stage with the truck behind him that he said was fully functioning anti-said he even had to chain it down to stop people driving offstage. according to sources, there was nothing in the truck to make it work. the indictment said that bloomberg report is completely accurate, that we got it spot on. but what is more shocking is that trevor texted executives, he tweeted dismissing the bloomberg report a

it's get more now with ed ludlow who is in new mexico. was a key test for the future of space tourism. ed: we kind of get hung up on it because richard branson was on board, but this is another test in a series of test the company had already planned. the may 22 test was such a big deal because as soon the vessel landed, they handed the data over to the faa and got the paperwork to send customers into space. they have two more planned and the data they generate on those is so valuable. but for all of us gathered there at spaceport america, there is this tension and anxiety knowing this billionaire and founder of the company is putting his life in his engineers hands, going up there and thankfully, this time, coming back down safely. kathleen: that's enough to encourage a lot of people to buy would've those tickets, about 250,000 dollars plus. when will those start up? ed: they sold around 600 tickets and then in 2020, they opened up a reservation system where you could put down a $1000 deposit to get your place in the queue. they can't do

ed ludlow, thanks so much.ando bravo, founder and managing partner of thoma bravo, the big private equity firm with $8 billion under management, sat down with erik schatzker to talk about crypto and the booming market. take a listen to the exclusive interview. orlando: what these two big movements are showing us is the need for inclusion, and wall street and in the financial system, by individual investors. you take wall street -- i read a blog the other day that there was a sponsor that said my stock is not for retail investors. i'm a retail investor, could it be for me? retail investors are smart, highly educated, they make good decisions , and they want in the game. talking about one of the arbitrage situations, they are doing that very successfully. so, good for them. take investing on your own hands, have fun at it, and sugars, they will take risk -- and yes, they will take risk and sometimes they will make money and sometimes they will lose money. it is a good thing and it is really inclusive, and people

that is our ed ludlow. have another headline coming out from robinhood, now indicated to open up 38 dollars six cents -- open at $38.06. it was priced at $38. we will be speaking with robinhood's ceo on his company's debut on the nasdaq. that is next. this is bloomberg. ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me, it works 100%. (announcer) think it'll break on you? think again! even a jeep can't

here with more is ed ludlow from texas. walk us through where we go from here. ed: mission successful. the capsule touched down in the west texas desert. what was astonishing was how clear the communication inside the capsule were. you could hear bezos instruct his fellow astronauts to not forget to look out the windows when they had the apogee, that height of more than 62 miles above the earth. there was a small hold before takeoff. there was a moment where wally funk, the 82-year-old, had to be instructed to press the button so that she could communicate with cap come -- with cap tom. bezos acquired this facility into thousand five. it has been a long road in which blue origin has fallen behind spacex. flaying paying customers for if you -- flying paying customers for a few minutes of weightlessness, that is just the tip of the iceberg. they want to vie with spacex for those nasa contracts. we could see two more missions this year as blue origin ramps up its activity. alix: thanks for that. really appreciate that. let's talk about u.s. housing market. it was in

ed: i'm ed ludlow with bloomberg first word news.en administration is expected to impose new sanctions on cuba today in response to a recent social protest on the island. officials say curves could include providing internet to the cubans. mass demonstration took place earlier this month in havana protest shortages, power outages, and government policies. former president donald trump pressed top doj officials last year to declare the presidential election was corrupt, despite no evidence of fraud. notes released by the house oversight committee detail a phone call exchange with then acting ag jeffrey rosen and his deputy richard donahoe, in which trump said, just say the election was corrupt and leave the rest to me. the report is the latest example of the former president's attempt to delegitimize the election. thailand's prime minister has rolled out tighter containment measures to quell a region covid outbreak. however, he hinted there could be an extension of quasi lockdowns

i'm ed ludlow. this is bloomberg. ♪ >> i'm jon erlichman, this is bloomberg markets.att: we welcome our bloomberg and bnn bloomberg audiences. here are the top stories we are following for you from around the world. china continues its crackdown. beijing presses ahead with moves to assert greater control over tech companies. we will discuss the fallout here in the usa and in canada. and we dig into the world of crypto and the amazing growth of the exchange ftx. sam bring -- sam bankman-fried joins us in moments. and the art of investment. we speak to someone from sotheby is about the demand in the art market, especially for wearable art, something that we used to call jewelry. jon: [laughter] we see an evolution of just about everything, including the markets. on this friday, we have seen weakness in north american stocks. in terms of the stock market picture, wrapping up the trading week, noticeable weakness across the board when we are talking about the s&p and nasdaq. certainly, the earnings story has been front and center, talking about amazon falling short of exp

bloomberg's ed ludlow has been in the launch site in texas. eff bezos, mark bezos, wally funk up toward the edge of earth. it will separate from the capsule, the capsule will carry on to about 66 miles above earth. it is not far enough to escape earth's gravitational pull. after a few minutes of weightlessness, the capsule will pull back down to earth, using its own air resistance to slow itself down. there will be drag chutes fired. three large parachutes will deploy just before the capsule hits the ground. as of monday evening, all astronauts completed the two day training. with any launch, especially here in texas, whether as a factor. jeff bezos founded blue origin in 2000. he acquired the land here in west texas 2005. the launchpad was not built until 2014, and in that time what has happened is spacex has leapfrogged blue origin. it has won most of the commercial contracts for nasa. blue origin wants to catch up, providing paying customers a few minutes of weightlessness. now it is the tip of the iceberg in terms of the ambition that blue

hong kong time, ed ludlow gives us a preview. if all goes to plan, it will generate 110 pounds of frost propelling them up towards the common line, as they approach, the booster will separate from the capsule. it will carry on to about 66 miles. it is not far enough to escape the gravitational pull. the capsule will start falling back down to earth using its own air resistance. there will be some drag that is fired. three large parachutes will deploy they sudden burst of air just before the capsule hits the ground. as of monday evening, astronauts have completed their training, but as always, whether as a factor. for blue origin it is a substantive step forward in what has been slow progress. jeff bezos founded the company. the launch site was not built until 2014. blue origin -- it wants to compete. it wants to compete with spacex but also builds engines. they have a grand vision of the future. first things first, and 11 minute flight for a few moments. -- four buckling back, expansion forces at five times the earth's gravity on

shery: ed ludlow in vanhorn, texas, our west coast reporter.the latest on the launch our special coverage of the blue origin launch starts at 8:30 p.m. hong kong time in 8:30 a.m. on the u.s. east coast. you can also turn to your bloomberg for more on this, tliv has commentary, market analysis from bloomberg expert. plus -- experts. plus or on the evolution of the space industry, within -- with another guest, tracking debris and low-earth orbit. haidi: headlines, a brazilian mining giant produce less iron or than expected. the world second largest producer turns out 76 million metric tons compared to an estimated 78 alien tons. a major market swing factor --remains high despite titus push to curb emissions. --close its adelaide casino. the south australian government moved to alert level for in response to for community cases. sky city will remain open for existing hotel guests and new zealand cross -- properties are unaffected. -- start labeling health videos with a move on how authoritative the source is, days after president biden addre

ed ludlow, thank you for joining us. that does it for this edition of bloomberg: technology.estin is next. he will be joined by the wall street bets founder and former sec council tom gorman. i am emily chang san francisco. this is bloomberg. -- in san francisco. this is bloomberg. ♪ in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. (announcer) back pain hurts. you can spend thousands and still not get relief. now there's aerotrainer by golo. you can stretch and strengthen your core, relieve back pain, and tone your entire body. (man) and you're stretching your lower back on there. there is no better feeling. (announcer) do planks for maximum core and total body conditioning.

second-quarter results and the earnings call of course, we are going to get the latest from that ed ludlow been listening in. what were the main takeaways? ed: may god record level deliveries in the second quarter but they were able to raise and cut operating costs and lean on china where even though average selling prices are lower, they are better at building cars, churning out higher-margin products. they had a significant milestone and all of that was a company facing significant challenges and this is the most candid i have ever heard elon musk be. take a listen. >> it is out of our control essentially. it does seem like it is getting better but it is hard to predict. ed: you know, what is so extraordinary is that tesla was able to been in bull but it still could not find alternative supplies and when it did, it had to rewrite the code for semiconductors. elon musk said this inhibited their ability to build cars. >> what are analysts saying given the risks? ed: they are focused on how long automotive growth margin was and how much they were able to expand that despite all of the chall

ed ludlow. take a look at where nasdaq futures are trading, off 140 points, about 1%, and that is really amazon down in the after-hours effect that we are seeing there. let's get to vonnie quinn, who has the first word headlines for us. vonnie: a group of gop senators is calling on the sec to investigate fraudulent chinese companies listed in the united states. the move follows the didi dibacco and china's enforcement actions on the ridehailing company. prior to its offering, didi's top brass downplayed the rest. didi is denying the wall street journal report saying it is considering going private. joe biden is toughening up on federal employees to require all workers to prove they have been vaccinated against covid-19 or wear our mask and take frequent tests. the plan will affect millions of federal workers including the military and on-site contractors. biden is encouraging private sector employers to follow the same approach. it comes in response to vaccine holdouts. the biden administration

shery: ed ludlow, what was the big takeaway for investors? : facebook is clearly concerned about the platform changes on ios and apple. there was no clear evidence that the slowdown the company see in the second half of this year is directly attributable to those ios changes. facebook is vying for a really high base. they far outpaced the rest of the big techs. people are not staring at their screens as much as they were. they did see really big user and topline growth throughout that period and it is not entirely clear what would grow that going forward. especially in north america, user growth was pretty flat in the quarter and investors seem concerned by that. shery: what about user growth going forward? what else did we find out? ed: they are thinking about products. they would not put a specific number in but zuckerberg and company are investing billions in initiatives like virtual-reality, augmented reality. mark zuckerberg talking about what he calls the meta-verse, a new form of internet where you have this ecosystem of landforms that

our very on ed ludlow caught up with branson on the ground soon after he returned to earth.ichard: i have been practicing some words to say to kids down on earth for some time. once i have done those words, just being able to unbuckle and just take off and look out these massive windows, then the spaceship was upside down, take in the earth from space. it is something i have dreamt of since i was a kid. it was completely and utterly awesome. one of those dreams come true. i still think i am going to wake up any minute. ed: you are here, you did touch back down. you said the feeling of weightlessness is indescribable but will you have an attempt for me? richard: it wasn't just -- but looking at the other three beneath me, floating as well, and looking out through these gigantic windows back at this stunningly beautiful earth. pristine sky, the strength of the blues and blacks. and i think we were in space. i have never -- i have always sort of pictured what it would be like, like the ride up there, the ride back. i never realized the whole experience would be so vivid. ed: be

. >> joining us on the latest on what is happening in sun valley, idaho is ed ludlow.g now? >> the narrative is around which media companies need to invest in content. a lot of the discussions are who is short, because scaling up seems to be important. the obvious target are viacom, cbs, paramount plus service which is behind the pecking order of others. then of course comcast. beyond that, you don't just have m&a specifically, it's about other deals. >> we can see pictures. are there any interesting conversations you can see happening? >> yes, you have this antitrust news at the mike -- the moment. we haven't actually seen the microsoft ceo yet. they tell me that jeff bezos is on his way, but he has not arrived yet. and of course, google is in the freight. imagine -- google is in the fray. imagine them all being in the same room with the data and ios discussion going on. i also asked sheryl sandberg, did she have any comment on president trump's lawsuit? she said no, then she went in and had her breakfast. i think that more arrivals are expected if jeff bezos comes, t

ed ludlow, bloomberg news, san francisco.id: and one of the companies when it reports earnings along with apple, to a large extent in japan, look at how some of these names are trading. you don't see lg displayed and all these others that are big parts suppliers to the company. yvonne: the other bomb that was dropped is that he is not going to be on the earnings calls anymore, elon musk. he said he would just take questions on youtube. that is pretty interesting. people were looking at the fireworks but there are still lots of questions about china as well. we talk about the overhaul -- overall regulatory risks on the mainland. take a listen. >> for u.s. investors and probably for tesla as a company, a little bit of uncertainty about how the chinese government is going to treat tesla. of course as the bitcoin reversal that the company did earlier in the quarter largely contributed to some commentary or some pressure they had from tesla, from chinese regulators. david: it looks fairly complicated but potentially when you look

haidi: ed ludlow speaking to richard branson in new mexico.have more to come on "daybreak: australia sophie: -- told investors to prepare for monetary stimulus in 10 days. vonnie: she also signaled measures might be brought in a year to support the economy, after the current emergency program ends. ms. lagarde: it is not the time to talk about exit strategy because we are still forcefully delivering under exceptional circumstances, using exceptional tools, the pandemic emergency purchase program. which i expect to last at least until march, and possibly to transition into a new format after march. vonnie: the imf managing director says the eu's carbon border tax would be a protectionist measure. she had backed france's proposal for a minimum floor price for carbon around the world, saying that would be more efficient in curbing emissions. another minister said a single global carbon price would be ideal but it would be difficult to reach an agreement. malaysia's deputy prime minister says the country should be able to return to normal soon as

let's get back to the markets where our ed ludlow following afterhour earnings in the chirp sector, whatching? ed: out with earnings after the ball, the stocks under pressure after hours, the company giving a sales forecast that basically was back in line with wall street estimates, while d- ram, remember laptops, smart phones during the pandemic, as people return to work, that demand might go away. they have been spending among covid. the biggest takeaway. they're selling their utah semiconductor factory to texas instruments, $900 million cash and the machinery within it will give morning $600 million in -- more than $600 million in asset value. this is a plant that they used to operate with intel. they haven't invest indeed capacity. you can see the forecast in the fourth quarter, $8.2 billion in sale. -- sales. speaking of intel, i wanted to go back to them. it's been a bumpy right over recent days. the company set a new vision of its chip would be delayed in terms of production in 2022. intel has suffered again and again from delays in the latest technology and you can see the ride i

branson spoke to ed ludlow about the experience. >> i had been practicing some words to say to kids forme. once i had done those words, to be able to unbuckle and just take off and look through the massive windows, and then the spaceship was upside down, and take in the earth from space, it was something i have dreamt of since i was a kid. it was completely and utterly awesome. and yeah, one of those dreams come true. i still think i will wake up any minute. ed: you did touch back down. you said the feeling of weightlessness was indescribable, but could you have an attempt for me? richard: well... it is just the most... it is -- it is more than floating, looking at the other three beneath me, floating as well, and looking out through these gigantic windows at this stunningly beautiful earth below. like pristine sky, the strength of the blues and blacks, and we were in space. i have always sort of pitched what it would be like, the ride up and back, and never realized the whole experience would be so vivid. woo. ed: beyond the satisfaction of your own goals being achieved, what does toda

i want to bring in ed ludlow who has been with us in van horn, texas.he big question is, what's next for blue? what is the road to space tourism? they said they've got more flights plant, what else? >> two flights for the rest of the year. this space tourism business is supply constrained. bob smith was saying over the weekend that there are willing and paying customers out there. the fourth seat was supposed to go to the auction winner, but we are told there were others bitting in the region of $20 million. we are trying to go about how they will go about pricing this. two more missions, six paying customers, the constraint is that they only have a couple of boosters able to do this. remember, jeff was candid in that interview that this part of the business is a small part of the much greater ambition. emily: let's talk about that, new shepard going up and down is one thing, new glenn is what they are worry -- working on now they say it will be ready at the end of next year. that will do orbital -- that will do orbital missions. when blue origin starts

bloomberg's ed ludlow joins us from the event. : what we are looking at is who is going to have to scale up to compete in the world of media. so much money has already changed hands in media. we haven't seen this level of dealmaking in the sector since 2000. the main focus, discovery and warner. the hosts are advising on that deal. the ceo said the deal will be done. he hopes in eight months, may be a bit longer. he's also looking at amazon and mgm because increasingly, amazon and apple are influential in the media space. they've got the cash and the sharp elbows to make a difference. what does that mean for viacom cbs? also looking at amazon because of jeff bezos. sources tell me he is definitely coming, but he's not arrived yet. of course, we had the jedi contract. we have yet to see google's ceo, who may now have a chance on that contract. i spoke to a couple of executives this morning. one pointed out to me that this is a great opportunity for him to be in the room for the first time in 18 months with customers , with investors

emily: joining us is ed ludlow who is reporting on the company that was cited in the indictment. o us about the charges. ed: they claim that trevor milton over the course of the year between 2019 and 2020 when he stepped down, he essentially lied about all aspects of the business. he said the company was producing hydrogen at a significantly lower cost than others, and in fact, according to this indictment, they weren't producing any hydrogen at any cost. they were developing the technology and the trucks. they could not do what he said they could. emily: or even move forward according to what the prosecutor said. ed: that was a reference to a report we did last year, in 2016 he had a coming out moment, he stood on stage with a truck behind him that he said was fully functioning, even joking they had to chain it down to stop people driving offstage. but according to sources, there was nothing in the truck, none of the parts he would need to make it work, and what the indictment said is that bloomberg report was accurate, we got it spot on but what is more shocking is that he texte

ed ludlow has the details. what are the accusations he is facing? essentially that he lied to investors about the company's technology, its progress, and he knowingly did so in efforts to support the share price. examples being that he said the company was producing hydrogen at a significantly lower cost than market, when in fact the company was not producing any hydrogen at any cost. their examples about exaggeration with technology, and there is a lot of detail in the filing. shery: the indictment mentions your report from last summer. what did it say? ed: we reported in june that trevor milton went on stage in 2016 with a truck behind him, saying it was fully functioning. but according to our sources, that truck did not work. it did not even have the parts in it that would make it capable of operating. the indictment says that report was completely correct, the bloomberg news report was accurate. and after the fact, trevor milton took to twitter to basically deny the allegations in that story. he then, according to the indictment, texted a board m

i want to bring in ed ludlow, who has been with us on the ground on the street savannah -- streets ofanhorn, texas. what is next for blue? what is the road to space towards them? they have a couple more flights planned this year. what else do we know? ed: two flights for the rest of the year. the space tourism business is supply constrained. the blue origin ceo with saying they were willing and playing -- paying customers out there. the auction went up to $28 million. we are still trying to get a sense of how blue origin would go about pricing and charging this. two missions this year. six paying customers on each. --they only have a couple of boosters. they need to build more. jeff was candid in that this was part of a greater plan. emily: let's talk about the greater ambition. new shepard going up and down, taking turns to space, is one thing. new glenn is what they are working on now. it will be ready for the end of next year. it that will do orbital missions. much more like what spacex is working on when blue origin starts to do orbital missions, what does that mean? ed: since 200

ed ludlow is on the ground in a van horn, texas, in a tiny texas town that jeff bezos brought this company big moment for this place. talk to us about the impact blue origin has had on van horn. what have people been saying? there are murals and signs, people are pretty excited. ed: more than one person has told me it was the most exciting thing to happen in their lifetime. sincerely. this is a community built around ranching. there was mining, irrigated farming. blue origin has been a neighbor for a long time. bezos acquire the land in 2005. they didn't build a launch pad until 2014. finally, after the long journey the company is fulfilling its , original mission statement, to send a paying customer into low orbit space. it is crazy it has taken this long. it's crazy it has taken this long. for the town, they hope it will put them on the map. so far there is not much to show for it. emily: let's talk a little about what we can expect tomorrow. you were on the ground with richard branson at the virgin galactic launch. two different missions, two different kinds of technology. blue origin i

joining us now is bloomberg's ed ludlow. what are the expectations as lucid starts to trade today? lly a public company. at got a little hairy last week as they needed devotes to get that approved. the stock now up around 13%. the focus does change to execution. they haven't announced an official production date, but they will unveil around 570 limited-edition units this year. look for the roadmap from here because it is a dramatic ramp-up. in they add new models and an suv coming in a few years' time. by 2026, they want to be in the hundreds of thousands of units. but as we know, production of electric vehicles has proved very difficult for some of the names. they expect to burn almost $10 billion over the next few years. the focus is on expanding footprint of their spac -- of their factory, getting that built over the last 12 months or so. but they have hit some supply chain issues. this is a company the copy i with its technology. its debut car can do more than 500 miles on a single charge. it has a hefty price tag. the ambition in the near term is to take on those luxury german

i don't know where ed ludlow is. is he in new mexico?han: i think he is in that little town in west texas. tom: you've been reading marty robbins lyrics here about west texas. jonathan: i think he had a night out last night and didn't make it to the training facility. tom: jack fitzpatrick joins us now, our bloomberg government reporter. there's so many serious things to talk about. where does space fit in on capitol hill? does anybody care about it, or is it some presidential moment every four years where they decide we are going to mars? jack: it may be something to care about once every four years or so. the blue origin stuff, for one reason or another, has not fixed itself in the center of the conversation in washington about space, but nasa has big enough plans that it is a topic of conversation. one thing to walk out -- to watch out for, do they stick to nasa's plan to put people back on the moon by 2024? there were some democratic lawmakers who thought president trump picked that for political reasons because he would like to stil

ed ludlow is all over it. let's talk about education.hildren learning remotely, extra help for those struggling with change, there has been a huge demand. tutoring is helping every student reach their potential at no cost to the student. joining us now, phil cutler, who's been raising money for the company and out looking to wheel and deal with the actual school districts. talk to us about how your business model is different than the rest. >> thank you for having me on here today. for sure, our approach to tutoring is very different than the other companies that exist. we go directly to the school districts, partner with them, and that allows every student within their schools to get access to academic support. traditionally, a lot of that support has been reserved for wealthier families. with us, we partner with the school district to allow every student that access. caroline: there are you finding demand coming from? you are based in montreal. presence in north america, largely? phil: our customers are almost exclusively in the u.s. w

alix steel and ed ludlow will dive into the business of space.an catch that from friday evening if you are in the u.s. or if you are here in london, you can see that saturday afternoon on bloomberg television and quicktake. coming up, do not miss our interview with the ceo of julius baer. he will be sitting down with my daybreak europe coanchor, manus cranny, who is traveling. he is out in zurich. that is going to be next. this is bloomberg. ♪ dani: welcome back to "bloomberg daybreak: europe." i am dani burger in london. julius baer reported its best first half on record as facing markets fueled income from fees and commissions. let's get to my daybreak europe coanchor, manus cranny, who is out. he has been traveling, bringing up all the most important bank interviews and he is alongside the julius baer ceo. hi, manus. manus: very good day to you. another swiss bank another excellent set of results, records at that. philipp rickenbacher, great to see you in person. the holy grail or private banking and wealth management, isn't it? but record res

emily chang is in west texas with tim stenovic and ed ludlow. thrilled they are with us.'s listen to some of the cheers. [cheers and applause] so off they go to the gantry. we will have much more on this. we will focus on the markets and keep the images up for tv. for radio which we will describe this as well. priya misra with us, with td securities. in the limited time we have with you today, you commit to steepeners. what is a steepener, and why is that the place to be right now? priya: thanks for having me. the reason i like steepeners is because we are in an uncertain environment. our view is that the economy is likely to continue to be strong, but we are transitioning to a moderate, still solid level of growth. but the fed takes stock of all of the uncertainty and we heard this from sheryl powell last week, wants to exit really slowly. i thing that keeps the front end anchored. in case the delta variant does start to slow things down, that front end stays anchored. the long end, you really don't buy the 30 year as a hedge to equities. you buy the five year, you buy t

anna: that was bloomberg's ed ludlow speaking to richard branson there, talking about the incrediblerding that spaceflight. richard branson is only the third billionaire completing the trip into the great beyond this and month, with jeff bezos caught on his heels. the two billionaires are launching a mission where stars are almost within reach. ♪ >> two billionaires, two trips to space, nine days apart. they are ushering in a new era of private commercial space travel. here's how the trips compare from takeoff to landing. ♪ this was virgin galactic's fourth trip to space with crewmembers while blue origin is heading up for the first time. >> with you? >> and m-series -- i'm serious. >> it was dropped by a larger craft then released. >> release, release, release. clean release. ignition. good rocket motor burn. >> while blue origin is rocketed from the ground. virgin galactic reached an altitude of 53 miles. blue origin went to about 66 miles. >> richard branson is going to be going into space. we can debate where the line of space is. >> it attempts to mark the end of earth's atmosph