i am erik schatzker.teel, in for stephanie ruhle. we are very excited about our guest. her day job is covering the bond markets for bloomberg news and she is energetic about it and asleep writing about it. >> how could you fall asleep? it's awesome. >> three big nerds on the bloomberg desk. purchase contracts rose the northeast, falling slightly in the midwest. it hasn says that increased defenses against hackers after it was attacked this month. cyber criminals targeted jpmorgan. there is speculation the hackers were based in and possibly even sponsored by the russian government. to angelinaons jolie and brad pitt. they were married this weekend in france. the children art in the ceremony. the two met almost a decade ago on the set of mr. and mrs. smith. >> russian forces have invaded ukraine and the president is looking to the international community for more help. it is a major escalation and it is disrupting the financial markets and posing a challenge for the obama administration. peter cook joins us

with erik schatzker and stephanie ruhle. call.ontroversial some are asking why are americans infected with ebola he ain't allowed back into the u.s.? rex berkshire hathaway has more than $50 billion put aside. we will see what he might spend it on. americans are staying away from the movie theaters and theater owners are feeling the pinch. the morning, everybody. hope you had a good weekend. i am erik schatzker. on thisstic to join you monday. a lot of exciting things going on. excited to talk about it all. >> the top business stories from around the world. torture goal has railed out its largest lender. it will cost the government 6.62 rescue the bank. good being divided into a think an bad thing. junior bondholders and shareholders are stuck with the unit containing the banks most toxic assets. one way to bailout of banks, give the government the good stuff and everyone else the bad stuff. top-ranked economist for the past three decades cashing in. ed hyman selling to evercore partners. the price is much as $406 million. f

i am erik schatzker with alix steel. not often see two multibillion-dollar mergers disappear in the space of a half-hour but that happened when fox dropped its bid for time warner. the media world is reeling and wondering what comes next, and so away, so we turn to our roundtable. "bloomberg west" editor-at-large cory johnson is in separate cisco. paul sweeney, bloomberg and out -- san francisco. -- paul sweeney. let's begin with chase carey speaking yesterday on a conference call. , firstto say something saying "let me be clear, we are done. we have no plans to pursue a third-party content company as an alternative to time warner." do we believe him? >> in the near-term, i say yes. those are strong words. if they were to buy a third-party content company at this point some people would question, what are you talking about. there is nothing else out there that foxx wants in the united states, and that is why i believe him. a lot of the companies that are theoretically for sale do not match up to time warner, which was no

i am erik schatzker here with alex deal.ic state has become one of the most feared terrorist groups. one reason -- it is extremely well funded. peter cook joins us to explain where the islamic state is getting all this cash. peter? >> the bottom line answer, erik, is a oil for one. the islamic state has taken down parts of syria. they own or possess under their seven oilfields, two refineries, and more oilfields in syria. they are selling that oil on the black market, effectively $25 to $60 a barrel. they are using their capacity right now to fund their own military operations and to maintain control over these areas, providing some limited services, social services to those communities. basically they are intimidating the communities they have taken over. this is posing a big problem, because it is reviving a steady stream of funding for this organization. much harder for the u.s. and other countries to target their terror financing, because they are getting this money locally. they are not going through the traditional int

i'm erik schatzker. i'm alix steel in for stephanie ruhle. >> we totally called each other. >> that's not true. this is time for the newsfeed. these the top news stories. ukraine plans to block a convoy of 280 russian trucks. ukraine says the trucks are really carrying military aid for pro-russian rebels. they will not be allowed to cross the ukrainian border unless they are led by the red cross. the banks -- banks of bounceback. they have had the second-most profitable quarter in 23 years. they are making loads of the fastest rate since the financial crisis. consumer reports gave the tesla model s its best overall rating in february. now the magazine is saying minor flaws showed up after more driving. among them is the dashboard screen going black. there are probably the front trunk lid release. tesla says those issues have been addressed. faces crisiss -- on two fronts. a clinical stalemate in baghdad threatens to hamper the government's effort to fight back. on thatok has more situation and how the ob

this is erik schatzker. >> the morning once again. i am erik schatzker. >> great interviews.teful show already. >> a very busy morning for actual news. big reported deals in the media and tech space. starting with t-mobile and sprint. ending the courtship of the upstart rival. alec sherman is here. did they fire dan -- dan hesse he? what did they actually do? >> it is hard to say if they fired him or not. i think he knew the writing was on him -- on the wall. britain's buys t-mobile i would not have a problem. said that on the air. he said i have more to do with my life. >> could be the 40 million plus severance package to seal the deal. i think the writing was on the wall so if the deal had gone ahead he was going to run the company. already on his way out no matter what. that is the bottom line. it's needs to decide what they're going to do now. sprint was really softbank which owns 80%, the japanese wireless company. really the engine behind this brent t-mobile deal. if it is not going to go forward , and that is what we heard last night and again this morning with more de

i am erik schatzker. >> i am alix steel.test filing with the securities and exchange commission revealed a new stake in charter communications in a bigger holder in -- a bigger holding in verizon. that says something about warren buffett, but does not tell us about what is going on behind the scenes. here to give us some insight is larry cunningham. he is a law professor at george washington university. atgot to talk to insiders berkshire and john burbank is still here. someone who has studied warren buffett. larry, what is going on behind the scenes of berkshire. we define about the things about berkshire does. they have moved away from stock positions and buying minority stakes in public companies to buying 100% of companies. 20 years ago, 80% of the company was in common stocks. today, it is the other way around. operating companies are more of the business. managers are running the inpanies and they could step and take over leadership if something were to happen to warren. >> they never do it in a hostile way. they have

your own pie. ♪ >> live from bloomberg headquarters in new york, this is "market makers" with erik schatzkerie ruhle. schatzker. president obama will deliver a statement and this comes as the pentagon might not launch a rescue mission for refugees trapped on a mountain in iraq. what do you think we will hear from the president? big news yesterday. we went from u.s. forces being involved in an extraction to it being very unlikely that they will be at all. the other issue is what is going on in missouri right now. racial tensions in a very inflamed situations. you have seen the president weigh in on these types of situations in the past. think we will hear something from the president offering other types of aid to refugees if there is no direct involvement. u.s. officials finally got their own assessment of what is going on on mount sinjar. they have been going off of estimates of tens of thousands of refugees being up there. saw around 4000 and 5000. it is a lot of individuals. but they feel like the aid that they have been dropping, hundreds of thousands of meals, theons of water, as well a

i'm asked -- erik schatzker with alix steel.urds have taken control in iraq of the countries largest dam with the eight of airstrikes. -- with the help of airstrikes. willem marx joins us. this piece of interceptor has as important. explain why it is so critical. is a primary source of water for this entire region, northern iraq. the idea that this could hit -- fall into the hands of the wrong people is pretty terrifying. in fact, some of the parish murder forces and kurdish fighters that have reached the area this morning did find a series of explosives lined up against some of the walls of the dam that had not been detonated. one of the concerns is that the dam would breach and that could be very devastating for those in the region. >> given the fact that the islamic state that militants had taken control, albeit somewhat briefly, of the stamp. it is -- is it surprising that they had not gone ahead and try to damage part of it? i am no engineering expert, but i imagine this kind of scale is quite, quite difficult to just blow

i am erik schatzker. this is "market makers," here on bloomberg television.ri am alix steel, stephanie ruhle. asked what does the bond market -- >> what is the bond market have to do with inequality -- everything, according to a report from standard & poor's. ann, thank you for being here. your comments report for months. >> i did in deed. -- you worked on this report for months. >> i did indeed. we looked at economic conditions facing the u.s. and the world and one of the drivers that will make it continue. i'm a u.s. economist, so i focus on the states. the u.s. went through the worst recession in worth recovery in 50 years and one of the reasons -- one reason i found was a income inequality, and i want to be clear that that is a natural part of the economy, it is what we need as an encouragement to invest in ourselves to get the economy chugging along, however income inequality can get too strong into too high, and i could do more harm than good. >> how do you know when it crosses that threshold? >> there are a couple of ways to look at it. not to get too

i am erik schatzker. you can call this boom and a bottle.kentucky or japan, investors and drinkers are wild about whiskey. adam johnson has the story. >> forget pricey you whine, smart money these days is betting on whiskey, specifically single malt got. investors cannot get enough of this. a couple of weeks ago a rare bottle of whiskey went for $11,000. earlier this year, a single malt went for a record $633,000. the numbers tell the story. in the last few years investment returns an average of 420%. during the same time, the fine wine index down two percent. booming,, burden is two. most since 1970. last year sales of bourbon and tennessee whiskey like jack daniels rose more than 10%. for the first time bergen exports rose over $1 million. could we be in a bubble? bourbon companies are betting no. they think demand in asia is point to keep growing. they are building more distilleries. adam johnson, bloomberg news. >> that is a lot of bourbon. i myself am a tequila woman but i respect that. did you know there are so much bourbon in kentucky

i am erik schatzker. >> i'm alix steel. happy friday. time for the top business stories from around the world. the labor market has not grown at this rate since 1997. for the six-month month on a roll, employers added jobs. sixth month in a row, employers added jobs. manufacturing rose at the fastest pace in three years. factories ramped up production after increased demand for cars and business equipment. procter & gamble is going on a diet. it plans to eliminate up to 100 brands over the next two years. the brands that remain account for 95% of profit. the company reported quarterly profits that beat estimates. >> in the market for a house or summer home? you used to have an easy choice in your online searches. not anymore. trulia are merging in a $3.5 billion deal. what does this mean for the real estate industry and for buyers and sellers? we are asking barbara corcoran. she is now an investor. the abc hit from show "shark tank." changer.a game you have the two biggest guys in the business that used to compete with each other every d

work at bang" is up next with erik schatzker and alix steel. erik schatzker and alix steel. ♪ >> live from bloomberg headquarters in new york, this is "market makers," with erik schatzker and stephanie ruhle. >> hackers attack jpmorgan. stealing gigabytes of customer data. fingerprints may point to russia. >> who says it is not easy being green? investors tapping into the market for clean energy bonds. >> pro football fever. we will see if anybody has fumbled? makers"watching "market on bloomberg television. i'm erik schatzker. >> i'm alix steel in for stephanie ruhle. >>

erik schatzker joins me now. you could almost smell this happening yesterday because of the involvement of one of warren buffett's favorite private equity groups. >> the resilient billionaire who will have a 51% stake in the combined burger king and tim hortons. i was going to say conspired. why would i say that? our nerd last year. you are right, you could almost smell this coming. let's talk about what it is buffett is doing. , he isn what we know now getting a $3 million preferred stake in the new company. what is that mean? they are senior to the company but junior to debt. because of the fact they are not debt,ior as unsecured they can command a higher dividend or yield. that is why buffett loves preferred equity, because it pays a yield. a has invested in the past in number of preferred deals. dow chemicals in 2008 when it acquired a special chemical maker. goldman sachs, general electric, bank of america, and contributed equity financing for the last year. we do not know if this is convertible equity like

erik schatzker, thank so much. stay with us.heck of the market movers on the other side of the break. "bottom line" continues in just a moment. ♪ >> at the latest headlines at the top of the hour on bloomberg radio and streaming on your tablet and bloomberg.com. that does it for this edition of "bottom line" on bloomberg television. i am mark crumpton in new york. thanks so much for joining us. on the markets with julie hyman is next. i will see you tomorrow. >> it is 56 minutes past the hour. that does indeed mean that bloomberg tv is on the markets. i am julie hyman. just across the board -- the s&p with the biggest gains of the day of of 2/10 of 1%. we are seeing a lot of canceled deals and that is taking its toll. are looking at so-called living wills, to see the camp after bankruptcy without damaging the wider system. drawingthem back to the board and essentially gave them a failing grade. joining me on these living wills, all willis. we did have bank of america coming out and raising its dividend. what do these living will

erik schatzker read these. him. >> along with a whole other remote securities filings. -- ream of securities filings. [laughter] this is one of the things we learned about in the 13f's. carl icahn and gannett. we learned about apple. it is a hedge fund favorite. we saw a number of hedge funds load up on it over the past few months. discovery capital. millennium loaded up as well. people feel differently about apple on the other side. we saw a number of big hedge funds unload apple. you is that there is no unanimity. it raises questions about the validity of the 13f as a trading strategy. [laughter] 6 is going to be the next big accelerator for the stock, says matt mccormick. are you waiting with baited breath? >> i know a lot of people who want a larger screen iphone. i'm waiting with bated breath because i do think it is going to be the mother of all refresh cycles for iphone users. 's and why about 13 f they are important. you can place trading strategies if you look at some of the long-short equity managers

erik schatzker was there as well.e on that story in just a moment. ♪ >> days ago lead attorneys were selected to represent gm car owners in a class-action case where the owners are suing for 2.6ries could gm recalled million vehicles for faulty ignition switches and millions and millions more for a variety of other issues. assigned ken feinberg to oversee payments from its unlimited fund, and he has said that gm is doing all that it should. , general motors so far, as far as i am concerned, has been very cooperative. we have set up this program -- >> they talked to you several times? >> oh, several times. i talked to all sorts of interested parties. mary barret said that herself, we want to do the right thing. untapped funds. >> steve berman, managing partner of the seattle law firm, will lead the class-action suit against jim, and is fired back that general motors'response has been unconscionable. ken feinberg is very well respected and i have met him before and he is an intelligent and charming man. he is being paid

for more on the health of retail, we are joined by "market makers" anchor erik schatzker because he willtail health in his show. >> more likely the poor health of retail. the retail sales numbers were little changed, effectively zero. economists were looking for a .2% increase, and all of the excitement that we saw around retail building after the cold weather in january -- retail january, 1.5%in in march. all of that enthusiasm and excitement is gone effectively now. >> yeah. >> and you see that in result for macy's, $.80 a share. analysts were looking for $.86 a share. it is a big miss for what has been an exterminator retail success story in the post-crisis period. >> and they mentioned they had a hard time making up for first-quarter losses. they thought as well that everyone would get out and start shopping after the dismal winter. >> are two things happening -- retailers across the board are confronting the challenge of e-commerce. e-commerce forces you to mark down your goods. either everyday low pricing -- you have heard that before, or discounts. macy's, for example, has to run

i am erik schatzker. >>

"market makers" is up next with erik schatzker and alix steel. ♪ >> live from bloomberg headquarters makers." schatzker and stephanie ruhle. >> top cop. wall street lawyers up. you will hear from the manhattan da. >> sprint replacing ceo after deciding to pick off takeover talks with t-mobile. >> will he name names cap go the man link to this their right scandal has been arrested. prosecutors say he is operating with the investigation. good morning on this wednesday in new york city. it is "market makers." happy wednesday. a ridiculo

i am erik schatzker. for am alix steel in stephanie ruhle. it feels like a wednesday. >> we are just getting started. >> it is time for the news feed. richard kander is consolidating his pipeline empire. the pipeline so make it easier to grow. viral content has gotten a $50 million investment. according to the new york times 850 values buzz feed at million dollars. if it is famous for its lists like 15 things that can improve any day. they are branching out into video. the parent company of bloomberg news is an investor. john kerry has pulled support for iraqi prime minister mailiki . he is not among the top three candidates that iraqis want to the next prime minister. is the turkish strongman who test the limits of democracy as prime minister. now he has a firmer grip on power. he won the first presidential election of this weekend. the victory promises change for turkey and parts of europe as well. hans nichols is in istanbul. let me start by asking you this question, why are people drawing comparisons between him and vladimir putin? towhat

with erik schatzker and stephanie ruhle. >> paying the price. bank of america will sell out -- a lot almost 17 billion to settle claims it misled investors. >> the pipeline goes dry. cutting off sales of the country most viable commodity. lex the bucket list. every time you turn around a celebrity is dumping ice on himself. is this helping the fight against the dreaded three -- dreaded disease? >> welcome. i am alix steel. >> have you done the bucket challenge? i have not. i would not mind donating money. i do not see myself doing the bucket challenge. >> i challenge you. >> you are like the seventh person and i am still not going to do it. going to existing home sales for the month of july. scarlet fu in the newsroom with headlines. >> for the month of july economist looking for a drop. instead what we got was an unexpected increase month over month. existing sales rose 2.4% from a month ago. in terms of an actual number, 5.1 5 million, higher than what economists had been looking for. i was told 5.1 five millions the highest level since octobe

that was tiger woods speaking to erik schatzker.ke a short right on "the pulse." ♪ >> welcome back to "the pulse." we are streaming on the ipad and bloomberg.com. we are checking on the currencies. let's look or the pound is doing against the dollar. 16649. that is coming in below where analysts were expecting. that was an estimate of 1.8%. the markets are speculating that that might take some pressure off the bank of england to increase interest rates in the near future if they were under that pressure in the first place. that assembly that is moving the pound. we find ourselves in the currency market. ae broader market has seen positive day for europeans. they have picked up on the good vibes from the u.s. markets. "surveillance" is up next from new york. ♪ >> this is bloomberg "surveillance." violentsters or criminals, unrest continues in ferguson. 50ice clash with demonstrators. that was a correction? we spate to a reinvigorated bull. a darling of instagram, eva chen. this is bloomberg "surveillance," live from new york. i am to

with erik schatzker and stephanie ruhle. >> they are back.derivatives for a new generation. >> a deal made for the irs. they are considering a hype line industry. that may leave some big sub rise -- surprise tax bill

i want to bring in erik schatzker. he has done some digging into this story. name like jpmorgan being attacked, it does worry you. if jpmorgan can be infiltrated, what is next? >> let's make clear one thing. to your point about the amount of money jpmorgan is ending -- spending and the 1000 people devoted to cybersecurity, it is hardly as if the rest of the bank has been asleep at the switch. all of the banks spent hundreds of millions of dollars. made specific reference to cybersecurity in his letter to stockholders. he says cyberattacks are growing every day in strength and velocity across the globe. it is going to be a continual battle to stay ahead of it. unfortunately, not every battle will be won. shareholders were served notice by the ceo this kind of thing was possible. it is true banks spend much more money than any other industry protecting customer and employee information against cyberattacks. by a hedgepoint made fund manager who specializes in financials and has relationships with every major ceo in the industry yesterday. he raised another inges

it is something erik schatzker has been watching. >> and participating in.eve you did that. >> why not? it was for a good cause. >> i suppose that is true. but if you just gave them money wouldn't that be -- >> i did that, too. here it is. how did that happen? who challenged you? how did it work out? who filmed it? tell me the details. >> that is my friend, and jerry qb, who was been on bloomberg television a few times. he networks at blackrock. the challenge is, as many people know, you get up bucket of ice water dumped over your head, or dump it your, self. or make a $100 donation or more. i chose to do both. ice to get dump this donationnd i did the this morning. >> i think a bucket of smirnov would be better. >> [laughs] the point is, it has gone viral and it shows you're ways to raise money for charitable causes -- and there are ways to raise money for turbo causes that go beyond the conventional. that is what we are talking about this morning. is this a concept that others should embrace? this ice bucket challenge has been used before in britain and ne

tiger woods and rory ourroy in new jersey, and very own erik schatzker was there.he long straw on that one. what was it like sitting next to those two guys? >> intimidating quite honestly to think about how well they play golf. and after watching rory mcilroy hit some shots against the jimmy fallon of all people -- and jimmy is not that bad, right? i am thinking to myself i am just about as bad as jimmy fallon, and rory mcilroy into balls onto the green. pretty remarkable. look, he just won the pga champions tour then the dark, so why not at liberty? >> what did he tell you? >> we were talking about the future of golf. the numbers of golf are atrociously bad. the game lost 400,000 players last year, 6 million since 2000. here is what tiger woods says golf needs to do to attract a younger fan base -- >> participation is hard, and it is neat to see other top athletes like say a michael jordan play golf, to see tony romo and a bunch of other different celebrities come even steph curry has got a hell of a game. all of these other athletes play the game of golf and play

this goes to the emotion that our erik schatzker brilliantly described yesterday. a small idea that within $94.05 for canada's tim hortons and the 51% ownership by the buffet consortium -- there is a commitment to canada. there is more going on than finance. there are some delicacies going on. >> there is a commitment to breakfast as well. [laughter] i am serious. part is how to sell breakfast, how to beat mcdonald's. you can do it with tim hortons donuts, may be. that is part of their plan. >> burger king has obtained 12.5 billion dollars of financing, and 3g capital, the brazilian private equity firm, will own about 51% of this new company. they will be the majority owner. burger king and tim hortons will remain independent brands. >> the key system here is berkshire will have no operating or management duties. it is a preferred equity financing with jp morgan wells fargo providing services. obviously within any buffet transaction you want to know what that preferred path is. -- i think off matt levine with bloomberg view, on this.o the math i need to know what t

fornything goes, we are in erik schatzker and stephanie ruhle. we just saw paul ryan come by. there is a big interview and we are excited. i will take full credit for bringing him here. >> you totally should. we will have great analysis from phil mattingly after the interview. it's time for the news feed. the argentina president has come up with a way to bypass the u.s. court ruling on bond payments. the government wants to let overseas debtholders swap their byds for one governed argentine law. they will get interest payments through the argentina central bank instead of in new york. a u.s. judge barred american banks from processing debt payments i was argentina reaches a deal with creditors. shares of apple are little changed after hitting an all-time high. investors are optimistic about it the products and estimate that a larger screen iphone due out this fall will set sales records. there is a new owner for the bankrupt cupcakes chain crumbs. 6.5ne has challenged the million dollar bid and the closed all 48 stores in 10 states and new owner plans to expand. turnaround is

>> live from bloomberg headquarters in new york, this is "market makers" with erik schatzker and stephanie ruhle. >> i'm emily chang. .acking and airplanes supposedly secure websites, all big topics. at the annual black hat conference this week, we hear about the security threats as 8000 hackers from around the world head to las vegas. chances are you play it, or you know someone who does. we are talking about the kim kardashian game, one of the most downloaded apps. players help kim hit a list status. -- a-list status. apple is facing more challenges in china as the company's off the have been left chinese government's procurement list. apple failed to submit documents that included a pledge not to violate double interest, according to government officials. this coming after china said it would vet technology companies for potential national security breaches. of theto our lead story day. security a major issue in the world. president obama has authorized airstrikes on extremist positions in northern iraq. we will have more on the technology behind the strikes coming up. i want to talk ab

icon.rtons is a canadian we were talking to erik schatzker, and native canadian, earlier, about the number of tim hortons in canada per capita is so much higher than that of, say, and mcdonald's to every u.s. citizen, if you look at the relative they six. it is a dominant player there in , and thed doughnuts union of burger king and tim hortons would create the world's third-largest fast food company. >> other reasons for the deal besides the tax inversion? >> there are other potential reasons. the tax inversion seems to be the largest, from a strategic viewpoint, the -- tim hortons is big in practice. burger king does not have as much of a presence in breakfast. it is a fast-growing area for many fast food chains. we also talked to an analyst over at stephens and he said that we could see some tim hortons cost cutting of the same ilk we have seen with 3g and burger king. in addition to that, tim hortons is under leopard, doesn't have a lot of debt, so we could see 3g try to load up some more debt on the company to return capital to shareholders as well. there could be small reasons, but t

. ♪ live from bloomberg headquarters in new york, this is "market makers" with erik schatzker and stephanieclues, jerry yellen -- janet yellen starts speaking moments from now. >> server be annexed to a war zone. the fighting in iraq turns a rare real estate boom went bust. >> you have never seen a classic auto collection like this one. cars.building his own car storiesclassic are completely separate. makers."e to "market first, we want to get to the breaking fitness peer janet yellen is about to start her speech. ors are watching closely. >> if you are looking for something new from janet yellen that is going to change the debate or moar

. >> erik schatzker is on the tim hortons beat for us.ck with more on "bloomberg surveillance." ♪ >> good morning, everyone. "bloomberg surveillance." bnp paribas on fixed income tomorrow. berger.s negative yields in germany and the financial repression. >> it is perfect timing. this is "bloomberg surveillance." keenearlet fu with tom and brendan greeley. adam johnson is off this week. our guest host is peter henry from the nyu business school. a scare in the air for the president of the entertainment unit of sony. this flight was diverted to phoenix because of the threat of explosive material on board. knocked the playstation network off-line. uber hits the road in israel. regulations will not be the biggest challenge. is a ubiquitous taxi hailing app in israel. that will be the biggest challenge. google's card does not have a steering wheel. they say they will change the design. >> i was just thinking, what if is like groupon? it is an idea that is infinitely replicable. i do use it. it occurred to me the groupon was this amazing overva

with erik schatzker and stephanie ruhle.e asking why are americans infected with ebola he ain't allowed back into the u.s.? rex berkshire hathaway has more than $50 billion put aside. we will see what he might spend it on. americans are staying away from the movie theaters and theater owners are feeling the pinch. the morning, everybody. hope you

with erik schatzker and stephanie ruhle. >> paying the price.sell out -- a lot almost 17 billion to settle claims it misled investors. >> the pipeline goes dry. cutting off sales of the country most viable commodity. lex the bucket list. every time you turn around a celebrity is dumping ice on himself. is this helping the fight against the dreaded three -- dreaded disease? >>

. ♪ >> from bloomberg world headquarters in new york, this is "market makers" with erik schatzker andg the price -- bank of america will be hit with a record penalty to settle the case over toxic mortgage bonds. as much as $17 billion. >> investors get the picture, snatching up fine wine, stocks and -- looking for alternatives to stocks and bonds. >> equinox is buying luxury gyms from coast to coast. we talked to the ceo. ." is "market makers

. >> live from bloomberg world headquarters in new york, this is "market makers" with erik schatzker presidentaq obama says force may be needed to prevent genocide. >> holding back the economy -- a surprising new report says income inequality is slowing down growth. on chicken ban imports might not be such a bad thing for u.s. consumers. it

. ♪ >> live from bloomberg headquarters in new york, this makers," with erik schatzker in stephanie ruhle this is market makers on bloomberg television. >> happy tuesday. slappedork state just price waterhouse coopers with a $25 million fine. report that from a was supposed to detail the business the bank did it illegally with countries that were blacklisted i u.s. authorities. that is what the report did until they sanitize the language. this highlights the conflict of interest between auditing and consulting. matt levine. have i got the chronology of events right? inthey did some bad deals 2002. they did this report and six years later they were fined for it. >> whether it is price waterhouse coopers or many andrs, they cannot audit consulted the same time. this is evidence of that. you are developed -- here to tell us something different. >> there is some truth to that. in this case, they when it ended with a were supposed to do. they hired a separate consulting firm. has nothing to do with the auditing work. they hired an accounting firm to do this. you could call it an audit of all o

erik schatzker is your with me covering that story in "market makers." >> we will get the latest updaten about 20 minutes time from the congressional budget office. peter cook will bring us the breaking news. you are right, we are trying to figure out whether the budget deficit is widening or shrinking. lately, it has been shrinking. it is no more near the $1.4 trillion we saw in 2009 or from 2009-2012. however, it is going to grow. the question is, how quickly? likelement programs medicare and medicaid and social security are going to cause the budget to balloon in the years ahead. the problem is that in the near term, the shrinking budget deficit, you may not get much mulligan it is now, but the shrieking budget della -- to visit relative to where we take the heat off commerce to do something about it and that is what we will be discussing with kent conrad, the former democratic senator from north dakota, member of the gang of six who famously try to negotiate a grand bargain with john boehner. we know that failed. >> how much on the forefront it was that the deficit was going to grow

♪ >> live from bloomberg headquarters in new york, this is "market makers" with erik schatzker and stephanieuhle. >> king digital are plunging. we will tell you why gamers don't have that sweet tooth anymore. a warned buffett calls it financial weapons of mass destruction. >> salad chain wants to expand beyond the east coast but with american scope or green? -- but will americans go with green? >> i thought whence they was hump day. is that weird? >> these are the top business stories from around the world. ukraine says it will block the convoy russia says is carrying humanitarian aid. it is headed for areas in eastern ukraine that are controlled by pro-russian rebels. ukraine is concerned that they might really be carrying weapons. farmers are spending less. makerggest farm equipment is cutting its full-year forecast. they said that sales may fall 10% in north america. the second largest health insurer in america is changing its name. the company has been doing more direct marketing to consumers because of obamacare. 14 of the new health-care exchanges. >> if you're looking for a retail rec

of ciscohambers, ceo systems, will be joining "market makers" with alix steel and erik schatzker at 10tern time. what did i say about the u.s. struggles? where is the poor customer? >> dollar stores. >> nominal gdp was good and walmart did not do good. >> dollar stores make walmart look expensive. >> there it is. >> dow futures up 20. it was good news for the white house. dramatically fewer u.s. troops were needed on mount sinjar as the crisis fades. other decisions loom front and center for the obama administration. phil mattingly is our chief white house correspondent. what is the to do list for the president this morning? this hasand foremost, been the underlying problem throughout, to continue to work baghdad,ith allies in with the prime minister to form a to try coalition government in the next 30 days. you cannot understand how important that is. that is the central component of any plan forward in iraq. the kurds are doing a much better job with pushing back the islamic state militants over the last couple days. until there are is some type of coalition force of the iraqi milita

." >> thank you, erik schatzker, of market makers. it's bloomberg surveillance.♪ >> good morning, everyone. it's bloomberg surveillance. brendan greeley has four children. are you kidding echo under the age of four? we met late and we just got started. >> a moment of silence for misses greely. >> that is dr. greely. >> aaron hearst, the author of a book about family. [laughter] scarlett knows a thing or two about children as well. >> let's get you president obama. safety procedures after man dressed in afghan uniform killed a u.s. general. he is the highest-ranking officer to die in the war. the 72 hour cease-fire is holding in gaza a day after it began. they are trying to come up with a lasting solution to the conflict between israel and hamas. and in kansas, senator pat roberts turned back a tea party rival in the republican primary. roberts beat milton wolf 48% to 41%. senator to stave off a tea party challenger this year. here forrespect brendan greeley. you and i were talking the difference between the rest -- a west point general and an rotc reserve offers

and >> live from bloomberg headquarters in new york, this with erik makers," schatzker and stephaniea new turkey. >> amazon strikes back. it is getting hammered by authors for blocking presale orders of books. they are trying to persuade readers to join the cause. >> sprint's new ceo takes over. will he tried to compete with at&t and verizon?