coming up, eric schmidt on health, politics and more.ve his exclusive interview from the bloomberg breakaway summit. and we will review all of our best interviews from the week, including dave mcclure on what is happening to valuations in silicon valley. ♪ streaming services like netflix and itunes could see more regulation in the european union. wednesdayublished on say 20% of video libraries will need to be dedicated to european content as a way for europe to support its domestic energy meant industry. right now, netflix is just above what was set. eric schmidt spoke at the bloomberg breakaway conference and spoke about the big breakthroughs in technology he sees at. john mikel slate asked if the private industry is better the -- better at investing than the government. eric: i'm not ready to fall in the traditional assumption about the government. have a just like to little bit of it on these things that are moving shots, enormous scale things that can benefit the country. john: you gave the example of health. what's another example?

but the hope here is if you can att talent like tim cook and eric schmidt, it won't be the last. r "nightly business report," i'm juliachatterly. >>> a fast-growing s valley startup could soon be snapchat, the populsa app, is seeki at$200 t' accordingchestment capital cr of a valuation.lies thatpp three years ag fk offered to buy st f $4 billion. million daily users. >>es of a profit slowdown. ant're b tonight's "market s. th electronics retailerdbeha ex results buteefi falling hqn japan impacted theer an supplyf ihigh-margin prod. st also said its chief financial officer is ste. shareselor than 7% t 30.55. >>> verizon isarning of ongoing stay ne impact its second-quarterre e telecom giant says while itha maintenae requests itasot been able to mtus demands. nearly 40,000yee been striking since april 13th. shares finis t d up almost 1% to49.58. >>> pharmaceutical d eli lilly says it has theoto launch 14 new drugs b2023. in areas like ds and oncology. the cosce thinks lily is well positioned he >>> finally able to take the iend turn it into odnd demographics are in our favor. twds

eric schmidt speaks out on breakthroughs ahead and technology.e -- we will have his exclusive -- interview. peter thiel strikes back, we will bring you the full story on how he has been secretly funding hulk hogan in multiple cases against gawker. but first, this week saw new alliances forged between traditional automakers and the right hailing challengers. the news comes as a car industry braces for change, especially when it comes to the future of car ownership. by investing in the main players in the space, the world's biggest car brands are hoping to secure a place in the future. toyota tied up with uber and vw took a stake in get. we take a look across the ride-hailing space to see who is leading the pack. ♪ >> carmakers are choosing sides in the right hailing wars, this week alone volkswagen invested $300 million in get and toyota committed an undisclosed amount to uber with plans to get into the car leasing game. in january, general motors today $500 million stake in lyft and , let's not forget apple's billion dollar bet on didi. which of

alphabet chair eric schmidt spoke at the bloomberg breakaway conference this week and singled out improvements and technology that he sees ahead. our bloomberg editor in chief asked schmidt if the private sector was better investing in these projects than the u.s. government. >> i am not willing to fall into the traditional cynicism about government. let me observe that our government spends an enormous amount of money on the wrong things. i would like to have a little bit of it on the things that are moon shots, enormous scale things that can benefit the country. john: you gave the example of health. what is another moonshot? eric: i will give you two examples -- the health thing is -- it can be understood as analog meets digital. so up until now, doctors have been living in an analog world and god knows, it's incredibly painful and complicated. we have been living in this digital world where we have all of the math and we understand scalable systems. we have finally been able to break through with modern monitoring systems, the genetics breakthrough, the dna sequencing machines and all of th

but the hope here is if you can attract talent like tim cook and eric schmidt, it won't be the last. for "nightly business report," i'm julia chatterly. >>> a fast-growing silicon valley startup could soon be valued at more than $20 billion. snapchat, the popular messaging app, is seeking at least $200 million in investment capital and that's according to tech crunch. that number implies that whopper of a valuation. three years ago facebook offered to buy snapchat for $4 billion. the company has about 100 million daily users. >>> best buy warns of a profit slowdown. and that's where we begin tonight's "market focus." the electronics retailer posted better than expected quarterly results but sees profit falling below expectations after an earthquake in japan impacted the supply of its high-margin products. best buy also said its chief financial officer is stepping . shares fell more than 7% to 30.55. >>> verizon is warning of ongoing labor strike may negati impact its second-quarter results. the telecom giant says while it has been able to manage maintenance requests it has not been a

eric schmidt speaks out on breakthroughs ahead and technology.ll have his exclusive interview very

a reminder that eric schmidt is one of the featured guests of the bloomberg breakaway conference. backing this startup. watch it on our live events channel at bloomberg.com/live. still ahead, the commodity close. that is coming up. ♪ okay, ready? whoa! [ explosion ] nothing should get in the way of the things you love. ♪ get america's fastest internet. only from xfinity. to the first word news. mark crumpton is in the newsroom. insights long-standing systemic weaknesses related to communications. this started before her tenure secretary of state. the romanian hacker who access the computer accounts of the bush family and others has pleaded guilty to identity theft. admitted to unauthorized access of a protected computer. he also hacked into the e-mail account of hillary clinton j k confident, sidney blumenthal. that led to the revelation of clinton's private e-mail account. the agency will add screeners by withune to tsa, to deal long security lines. or said several factors have contributed to added weight times, including more passengers and shortage of applicants for the expedit

and eric schmidt speaks out on breakthroughs in house technology.e will have his interview from the breakaway summit, next. and peter thiel strikes back, we will bring you the full story on how he has been secretly funding hulk hogan in multiple cases against gawker. but first, new alliances forged between traditional automakers and the ride hailing challengers. the news comes as a car industry braces for change, especially when it comes to the future of car ownership. by investing in the main players, the biggest car brands are hoping to secure a place in the future. this week toyota tied up with uber and vw took a stake in gett. here we take a look across the space to see who is leading the pack. ♪ >> carmakers are choosing sides in the ride hailing wars, this week alone volkswagen invested $300 million in gett and toyota committed an undisclosed amount to uber with plans to get into the car leasing game. in january, general motors took a $500 million stake in lyft and let's not forget apple's billion dollar bet on didi. with traditional card comp

emily: eric schmidt, chairman of alphabet speaking at the bloomberg live breakaway summit in new york search engine building a self driving car and betting big on voice technology. i'm not talking about google. i am talking about baidu. the company's chief scientist's next. ♪ emily: baidu, the chinese search engine is branching out of its core product, most notably, voice technology. it is also developing an autonomous car ready for purchase in 2018. i caught up with the chief scientist of baidu. he believes it could change the world just like electricity did. we started by discussing how that applies to self driving cars. >> i think that baidu has a different approach to self driving cars that most of the companies. let me explain. say you're driving along, and there is a construction worker on the road. the construction worker does that, you should stop. he does that, you should go. the behavior is totally opposite depending on the subtle hand gesture the construction worker makes. no ai system today can reliably distinguish between stop and go. we have a different perspective which

went offose key people and started a startup a few years ago that found some funding from eric schmidtogle, and is essentially trying to provide the obama data machine to hillary clinton's campaign, and to nonprofits who want to get into this data engagement, digital engagement field. out, its you point occupies a special position, it is not a for-profit company. tim: they are a for-profit company, but they want to be in the place where they are helping nonprofits. they eventually see potential in the corporate world as well to essentially social impact space where tying into doing good, if you will. carol: the opening remarks facing the u.s. postal service. >> one of the amazing things is that if we think of it as sort of a big mess, kind of a basket case, it has not always been like that. people used to be amazed by the postal service and marvel. throughout the 19th century, there was no other big organization. ge's, soe no ibm's or it was one of the biggest things in america, the biggest employee -- employer in the federal government. i still marvel when i send a letter at how inexp

eric schmidt is so proud of saying he was first to do his online campaign. >> this has been going one point that is interesting here, number three on the list, exxon mobile. who would get the oil industry? two, blue cross, blue shield. >> they're saying this group is worse than your worst nightmare. this boogeyman is exxon mobile. they're so evil. and google is many times more evil. for me, tom, this is a particular issue. no matter where you stand on the political spectrum, this should be a problem for you. you should be able to look and say these kinds of involvement is hazardous to the well being of the public. so this should be something that libertarians should be looking at. >> i don't like the kind of, the press is for democrats. the main stream press have been. they stood to the left. so surprise. big internet companies are, they love the democrats. but, a lot of people on the right are like oh, i'm not going to use google. use google. don't ghettoize yourself and hide. everyone has to admit. we know these people tilt to the left. media in this country tilt left. entertainmen

underway, erics schmidt was a few hundred miles away in amsterdam speaking at a start up conference.spoke about how hard it can be to start up a business. laws.re are a billion it's harder to be an occupant or in europe than it is in america. but the tax policies and amount of time it takes to create a firm and so on, what happens when i meet with governments is they all say yes and listen very politely. europeans are always very light and then they don't do anything about it. this coincides with a separate investigation as whether there are preferential tax deals as a way to entice them to do business there. companiesoo! -- the auction process is said to be going well. goldman says it is well on the way but declined to give any information. ceo marissa mayer graces the cover of the latest issue of variety. she is portrayed as the doomed savior of yahoo! with the headline reading "the end is ni gh." thatkesperson said running illustration is its own burden to bear. let's talk about the cover. do you think that cover is fair? david: i think it is mean. skull on the ground in front of

coming up, alphabet chairman, eric schmidt. until tomorrow, thanks for watching.ark: i mark crumpton. let's start with a check of your first word news. the head of the transportation security administration acknowledges weight times at airport security check point have increased significantly. but he told the house homeland security committee that more than 760 screeners will be hired by mid-june. >> clearly the summer travel season will be busy and the tsa and congress and travelers working together can improve the passenger experience while we maintain the security we need. most screeners will be sent to chicago, new york, los angeles and atlanta. a state department audit blames hillary clinton in previous secretary of state for poorly managed e-mail practices and systemic weaknesses related to communications that started before her tenure as secretary e-mails wereher single doubt. an aide to donald trump says there's a call to break a weeks long impasse over an endorsement from the speaker, which trump aides believe is imminent. a jailed ukrainian pilas

just as that was underway, eric schmidt was a few hundred miles away in amsterdam speaking at a startnference. he spoke about how hard it can be to start up a business. -- a business in europe. >> there are a billion laws. it is much harder to be an on-chip nor in europe than it is in america. whether regulatory tax policies, the amount of time it takes to grade a farm, and so on. what happens when i meet with governments is they all say yes and listen very politely. they're always very nice. but then they do not do anything about it. emily: this coincides with a separate investigation as -- into whether eu states have preferential tax deals as a way to entice them to do business there. now to yahoo! -- the company's auction process is said to be going well. without going into details goldman says it is well on the , way but declined to give any information. ken goldman is not the only yahoo! executive right now. ceo marissa mayer graces the cover of the latest issue of "variety." she is portrayed as the doomed savior of yahoo! with the headline reading "the end is nigh." a spokespers

and eric schmidt speaks out on breakthroughs in house technology.terview from the breakaway summit, next. and peter thiel strikes back, we will bring you the full story on how he has been secretly fdi

the alphabet executive chairman eric schmidt is no different. julia joins on the set she spoke to schmidt in amsterdam. >> we know he's back in the start of this looking at analytics of hillary clinton. when you hear his views on donald trump what i thought was quite interesting were the comments that donald trump saying that say that data is overrated. i said, what do you think? >> let us start listening to donald trump, his candidacy has largely been fueled by twitter, last time i checked was a tech company that used a lot of data. >> what kind of president do you think he'll be? >> are you asking me if he's going to be president? >> no i'm asking you what kind of a president he will make? >> as a general rule, presidents have a lot of constraints on them. [ laughter ] that's a good thing. >> do you think he'll be president? >> polling to whatever -- well, there's a problem in america, and perhaps here in europe, that the polling is based on home phones and it's difficult to poll against mobile phones. and everybody i know uses a mobile phone

coming up, alphabet chairman, eric schmidt. until tomorrow, thanks for watching. theaad: it is thursday, may 26th. i am rishaad salamat. this is "trending business". sydni and melbourne this hour. the benchmark heading towards his biggest two-day gain. the economy can withstand the anticipated fed rate rise. china would like to know when policymakers are likely to act.

. >> eric schmidt organized barack obama's campaign, his technological campaign, and was very successfulit. across the board they are very much in favor of the left. i thought they used to be libertarians, but in fact they are much more leftists. >> they've moved well beyond libertarian, i think, in the access that they have had to this administration, unprecedented. their lobbyists visiting the white house more than -- more -- >> 160 times. >> -- than the five other top lobbyists in the technology industry. it's amazing. let's get to trump being sort of, you know, snarked at by the times because he said it looked like terrorism and i think it did to a lot of folks. the first reaction is to attack. >> trump got right out front of this. it literally was 7:00 this morning as we were all getting together with what's going on in the world, out he comes with a tweet and what he actually said was it looks like terror to me. >> right. absolutely. >> he didn't say flat this is a terror operation. in doing so he put himself out in front of the story and i think he is the political winner from thi

let's not forget eric schmidt.hnology team he is a judgment on the left on your screen. directly incremental in getting the president elected. for some reason, the high-technology heightens up there. they are all for the left. i do not really understand it, sarah. >> that is what makes conservatives particularly upset about facebook's trending topic problem. we are being told that these are nonbiased comp and he is. we are finding out over the course of time, they are putting their hand on the scale, if you will, for liberal causes. that is deeply concerning moving forward in terms of trusting the technology that is all around us. stuart: nothing that you can do about it other than tell the world exactly what is going on. sunlight is the best disinfectant. i think that that is probably active in this case. >> that is absolutely right. if nothing is solved, it will at least add transparency. maybe it is just purely what is trending. stuart: i hear a lot of people saying it is just a face saving. and you say? >> we w

earlier today in amsterdam eric schmidt chimed in on the case to cnbc. >> we're part of the open sourceink it really hurts oracle because they own java and nthey need to promote t into this new world and it just doesn't make sense to me that they're in that path. >> what about the start-ups who've tried to make their products compliant? aren't we opening a whole host of potential losses there? >> there is now an open source version of all of this which they can use and i recommend that. >> now, a huge community of developers and companies rely on and thrive on open source, that is the software at the center of this case. and unlike google they may not have the means or the money to defend themselves against costly future copyright lawsuits if the jury decides in favor of oracle. so, guys, this is a massive decision, a very big deal for the tech industry. and it's no wonder that the courtroom has been absolutely packed. yesterday during closing arguments it was overflowing into another courtroom. and the atmosphere is certainly tense as the jury gets in and starts to deliberate any minut