and turning out to corporate news now general electric was one of wall street winners today could you tell us more about that and. well general electric had a couple of really rough months if not even hears behind them they're sitting on the decks amount of about one hundred billion dollars and now they're selling their biotechnology unit for a good twenty one billion dollars to danaher and. so far a good news that they can get rid of some of this huge debt blowout the stock of g.e. traded to the upside by a good fifteen percent when trading started by the end of the day only around lots of six percent were left because the downside of this deal is that the biotechnology unit was on not the fastest growing of g.e. and yes they get the cash but they're also losing one of the more promising parts of their business yes carter there with the view from wall street thank you very much. the mobile world congress the world's largest mobile telecommunications trade fair is and falls way but falling global demand for a new cell phones has handset makers trying to find that next innovation that

and speaking of health the breakup of general electric or g.e. has passed a major road marker as the venerable american company divest its drug and health business g.'s new chief executive larry culpa announced the sale of the unit to the dot com or corporation for twenty one point four billion dollars as part of an ongoing effort to rightsize a sprawling company and refocus on core competencies g.e. stock jumped on the news and mr called out of the move as a instance of quote thoughtful deliberate action to reduce leverage and strengthen our balance sheet and this will reviews from investors for mr cole performance in this case to be mostly positive with informed observers impressed by the price mr cupples able to pay for g.e.'s biopharma unit. and for more on g.e. and other market moves we are pleased to once again be joined by danielle sherry of simpler trading welcome back danielle thank you and today i couldn't be better and i'm really pleased that you're here because i want you to tell us about what you think about this move about g.e. they

and general electric showing chcaley life and passing a ke tenil vel.e have the details. ♪ ♪ let's go from plans... to full-blown production. ♪ ♪ let's go from being on-call... ♪ ♪ to being on-line. american express can help move your business forward with loans, vendor payments and buying power. chat with one of our 4000 specialists and let's make it happen. the powerful backing of american express. don't do business without it. >>> handful ofist stocks makinga can back k dom chu has more >> and stocks have fallen but on the rise again take general electric. the stock of the day in the s&p 500 after it said that it would sell its bio health care unit for around $21 billion ge will use to right size its balance sheet. it has rallied back strongly to a double digit share price and snapchat below 5 bucks a share, but it got compelling for some and shares now back above 10 bucks again for the first time since tent and then you have coty was helped along brian offer by the biggest share holder to boost its stake after a steep share e decli decline. and now

this will be a key area to watch about the stocks of the day will be general electric. we're up big the best gayners of the s&p 500 up 9% right now. we were up 16% at one point during the highs we are now up about 66% from the lows we saw back in mid december for shares of general electric on that big danaher deal >> we'll have much more on that in a bit welcome to the exchange, everyone oil is falling 3% after the president tweeted at opec today, telling the group prices are too high china stocks are rallying big time on the tariff delay posting its bay day since july of 2015. and the dow index bounced back in february. that's a decent sign for the economy. >> it appears that a lot of problems on the table in december are back. >> 2800, that was december 3rd, we went down to 23.51. the complete round trip. a lot of major problems that were issues in december seem off the table. for example, the fed is less aggressive onraits than feared fear of an escalation of the trade war. the oil price plunge that some feared a drastic slowdown. the big issue out there is the globa

general electric surging on news of $21 billion deal and stock up 45% this year alone. is it headed even higher biotech stocks soaring the names could be in the cross hairs, next, "power lunch" starts right now let's get a quick check on the markets this hour. stocks here off of session highs. dow up more than 200 points earlier in the session today's gains fueled by president trump saying he'll delay tariff hikes and nasdaq up for the 10th time in 11 days check on s&p 500 we're going to be watching that level carefully to see if we can hold above 2800. financials, best performer of the latest sector to exit territory. morgan stanley leading today's gains. bob pisani at the floor of the new york stock exchange. >> reporter: no particular news headline but 2800 was the old high in december december 3rd and went all the way down to 2351 as i recall come completely all the way back essentially, 2800 to 2350 back to 2800, losing a little steam we've had some big movers that aren't quite as much momentum in the middle of the day. so take a look amazon was great earlier on. w

or streaming a movie generally speaking watching a d.v.d. consumes less electricity because transmitting data from the cloud uses lots of energy but if you drive to the video store that increases the environmental burden . of them one can make you drive more than twenty kilometers streaming is better so less than that a d.v.d. is better if you walk to pick it up a d.v.d. is always better to find the cabinets or the clear which. is the rule of thumb here is that it's best to print last unsafe paper. before only talking about files and documents the cloud is greener a paperless office is the way to go. the free market or. purchasing things at a flea market is more environmentally friendly online shopping consumes electricity and then there's transportation packaging to both of which result in significant c o two emissions like thirty of all the things you can do online is sensible since it's a second parent online market. buying used is better than buying a new one amazon annoyed by what sorts of calls paper books or even reaches here it depends on your own habit the m

or streaming anything generally speaking watching a d.v.d. consumes less electricity because transmitting data from the cloud of energy trying to the video that increases the environmental. science can make you drive more than twenty kilometers streaming is better less than that d.v.d.'s better if you walk to pick it up the d.v.d. is always better. cabinets or the clams. the rule of thumb here is that it's best to print paper. only talking about files and documents the cloud is green or a paperless office is the way to go one of the free markets. purchasing things if you market is more environmentally friendly online shopping. and then there's transportation in packaging to both of which result in significant c o two emissions like. things you can do. is since it's a secondhand online market. better than buying new one amazon. paper book louisiana here it depends on your own habit the more books you read. in a printed version the greater the environmental benefit. is a tipping point comes between thirty and fifty books that's when it becomes greener than paper. shoppi

or streaming anything generally speaking watching a d.v.d. consumes less electricity because transmitting data from the cloud of energy but if you drive to the video that increases the environmental bit and. haven't won by the outside. can make you drive more than twenty kilometers streaming is better less than that a d.v.d. is better if you walk to pick it up a d.v.d. is always a better file cabinet for the cameras. the rule of thumb here is that it's best to print less than safe paper. if we're only talking about files and documents the cloud is green or a paperless office is the way to go. or. purchasing things if you market is more environmentally friendly online shopping consumes electricity and then there's transportation in packaging to both of which result in significant c o two emissions. of all the things you can do online is sensible since it's a second parent online market. being used is better than buying new on amazon but on what sorts of calls take a book or even reason here it depends on your own habit the more books you read. in a printed version the

repairs and that means it's harder to keep the network in working order as comms ability to generate electricity has fallen over the years as the entire grid becomes more fragile so as a government bailout inevitable well south africa's state finances are not in the best shape either the country's debt load has already been climbing in comparison to g.d.p. spoking investors and more debt could cause more trouble for the rating agency moody's has already warned it will further downgrade the country if it bails out eskom so where do things stand president obama pose a hazard and also plan to restructure the company and he says the government will indeed provide more financial help here's what he told parliament on thursday it has become clear that indeed it has come does need to be i says that by the state so that it can stabilize is fine because doing so also means that we are stabilizing the economy of our country. now here's a roundup of some of the other business stories making headlines today. global sales of german comic of folks foreign dropped almost two percent in january compared to last

general electric ceo annual letter came out last night hopefully his first of many. it is honest it is straightforward. in short it's the most un-ge piece of correspondence i have ever seen. you want to understand it was the most complex where you could never figure out how to do it. the numbers were borderline incomprehensible i had to search for a glossary it explained how many divisions were holding up. there were all of these after tax and before tax terms they used in a bizarre form of earnings you couldn't really compare it to other businesses on an apples to apples basis. none of this bothered investors but it looks like the company was winning. i could noeever figure out how they got away with it. it is forcing the company to cut numbers for what turned out to be a 60% love every year we might be confused about that. i was stunned by the simplicity of new ceo reporting techniques. instead of page after page after page of adjusted numbers that showed big wins there's one page that shows how all of the divisions are doing. get this it turns out ge has eight div

shares of general electric jumped 15% at the open.has agreed to sell betsy final pharma -- ge has agreed to sell betsy pharma. -- sell its pharma. betting on the future of gene therapy. buydrugmaker has agreed to the company that will give it --ir p/e for jean-affected invest billions in the pipeline. abu dhabi gets a cash injection. firstal is said to be the in the infrastructure of the middle east oil -- that is your business flash. talkstill ahead, we will to a top executive. they are gathering in we will speak to ericsson's head. that conversation is coming up. that is next. this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. guy: and in london, i'm guy johnson. this is "bloomberg markets." let's take you to barcelona. the race to find -- and the future of huawei. the biggest tradeshow was under way in spain. joining us is niklas heuveldop, the head of ericsson. with a- let me start off straightforward question. the benefit of 4g were very clear. i hope you can hear me. the benefits of 4g were very clear. why shou

here have got some news for your you will be particularly interested in general electric -- electric making a big sale. they are selling it to dinner. >> that is interesting. very cool. let's talk. more than 4% and the free market are we knew they would sell some stuff you that is a big sale. 24, $4 billion. >> also quick. inside our relationships healthier. david: you remember her saying i'm going to pay down the step. i will get the leverage down. he was very emphatic about it. no doubt, help him. >> you are definitely right. david: morning brief, tomorrow, president trump will head over to vietnam to meet with north korea's kim jong-un for a two-day summit starting on wednesday. also on tuesday, fed chair jay powell goes up to capitol hill and appears in the senate for the first of two days of humphrey hawkins testimony. does that every six months. get theday, we finally first read on u.s. gdp growth in the fourth quarter. flows numbers have been to -- delayed because of the government shutdown. it is time for first take. for today, more a schenker. he is our bloomberg chief conte

these are companies like at&t, general electric, general motors once highly regarded components of the dow jones industrial average but arelonger. and while most of them were down sharply in 2018, they have done very well, so far, in 2019. and can that last? joining us, chief strategist at bell point asset management. >> thanks r having me. >> give credit torr s. they ran a story like this over the weekend. what's taken out ofdohe what happens on wall street? >> it's a washout. to be fair,hen dow jones takes a stock out of the index, a lot of the bad news is pridin. in ge's case, it's down 80% from the highs of 2000. a lot of settlers are gone. when the f indexds kick it out, you have a bigs. p what happens in the following year, any good news is enough to drive the shares higher. in some cases like ge, it was pretty >> it has been dramatic. what about at&t? >> you know, at&t's probably the least of them all. marginally this year, less than the market. on that -- i'm not that excited about at&t. it has a great dividend, free made low but historicall a lot of bad acquisitions. one in pa

or streaming a movie generally speaking watching a d.v.d. consumes less electricity because transmitting data from the cloud uses lots of energy but if you drive to the video store that increases the environmental burden . of them one by thoughts can make you drive more than twenty kilometers streaming is better so less than that a d.v.d. is better if you walk to pick it up a d.v.d. is always better file cabinets for the clams. the rule of thumb here is that it's best to print lanced unsafe paper. before only talking about files and documents the cloud is green or a paperless office is the way to go one of the free market. purchasing things at a flea market is more environmentally friendly online shopping consumes electricity and then there's transportation in packaging to both of which result in significant c o two emissions. of all the things you can do online is since it's a second parent online market. buying used is better than buying a new one amazon sort of called the paper book or you usually hear it depends on your own habit the more books you read instead o

during the week, he would travel the country, giving speeches on behalf of general electric. d the glories and wonders and conveniences of electricity, better living through electricity. and he would find himself because reagan in that phase of his life was afraid to fly. and he had written into his contract that he would not fly. and so he traveled by train across the country. and he would go through small towns and very often he would find himself addressing the local rotary club or the alps or the chamber of ommerce. and he would find himself in these small towns because people didn't know who he was. he was never famous. he was sort of the b-list actor as jack warner -- his boss at warner bros. said when he heard that reagan was running for governor of california in the 1960's. he said no, no, jimmy stewart for governor and reagan for best friend. that was the kind of role he played. he's this relative nonentity. and he's going through these rather obscure towns and giving these standard talks. so the story that regan told went like this. he was about to give a talk in som

general electric did just drop its 10k filing with the s.e.c. also larry culp, ceo and chairman of ge, his first annual letter to ge shareholders. we're still combing through all of the materials here, but some of the tidbits that do stand out especially in that letter saying that the company intends to maintain a disciplined financial policy targeting a sustainable credit rating in the single a range. ge industrial leverage of 2.5 times net debt to ebidta and ultimately and ultimately a dividend level in line with our peers. you'll recall the company has slashed the dividend two times it's down to a quarterly dividend of a penny. no details on when that could potentially happen just to hear documents like that marks a shift from what we've seen for this company in the last couple of years as it tries to turn itself around. also cul pchlp talking about th looking to change and revise and streamline their reporting process. going through the 10k i haven't seen any more updates or details in some of those investigations with regulators either, but

general electric shares there rallied sharply trading above $10 for the first time since november aftereat fourth quarter sales and cash flow estimates, the company offset losses in its powering capital units with rising sales in aviation, health care, and oil and gas. ge also announced it had reached a settlement with the u.s. justice department over its subprime mortgage practices before the financial crisis. now, the other major stock everyone focused on yesterday in the u.s., amazon shares there declined in after hours trading amid concerns over weak guidance and increase investment in 2019 there's also concern around tighter regulations in india with cfo brian olofski warning investors that the situation there is "fluid right now. however, the on-line retailer posted record sales and profit in the first quarter boosted by holiday spending the firm's cloud businesses, aws, saw revenue surge 45%, and it now accounts for 10% of the overall business elizabeth, our tech correspondent joins us around the desk with more elizabeth, help us understand why did investors take a bearish view o

let's start with general electric which agreed to sell its biotech business to danaher for $21 billion. the move is a strategy reversal for ge, which rejected an approach by danaher for that business about a year ago. the proceeds of the deal will be used to trim debt, which stood at $121 billion at the endf december. shares of ge were up more than 6%. 8.5%er shares gained >>> and now to barrett gold, which made an unsolicited $18 billion bid for numont mining. barrett gold sayss the move logical. numont had announced a ol$10 billion takeover of corp. and today, barrett, numont and gold corp. all finished lower. >>> finally, spark's portfolio includes treatments for blindness and huntington's disease. this deal follows a recent push among other drug makers into the gene therapy space. shares of sparks soared 120% while rauschra fell aion. >>> warren buffett released his annual letter to shareholders over the weekend. veit's an annual that many investors follow. and this year, it took on added significance given last week's warning by kraft heinz, a stock that is one of berkshire's majo

manure and converted into electricity which essentially is the electricity for all of this town which has 1,400 people and also generateslectricity for whirlpool a manufacturing plant down the road. we should note about the idea of farting cows the methane comes more from belching than farting. the methane released in the overall makeup for the agriculture industry, 10%. if that makes sense, craig. >> i've learned a lot. i have learned a lot. as has america. thank you so much for all of that on belching and farting cows. not just a solution that climate change is being debated within the democratic party. it's a party not only in search of standard bearer for 2020, it's a party trying to make clear what it stands for. when it comes to our tax system, the idea of making a change, pretty universal for democrats. >> how about we ask the millionaires and the billionaires and the giant corporations to pay a fair share so we can make the investments in a future in opportunity for our kids. >> folks at the top have been -- the tax burden has been getting lighter on them. >> we should not have a regressive tax system in which l

alcatel submission to nokia and also general electric. every time we want to fight for european champions we couldn't even full normal priority was competition. the halls as your eighteen up you'll be tickle crossfield or something what some blocked mergers have gone on to create solid separate companieses. in two thousand onone the commission refused t the merger of two elelectric giants schneider on local. totoday both companies a succesessful in their own right that revenues for two thousand and seventeen nearly twenty five billion yours for schneider. and i have a five billion for the call. to could lose onsite european companies to be competitive against the u. s. chinese so all the counterparts they need to innovate as we have high production costs. it's simply part of on developments by innovating we can be the best phone monopolies to not innovate. however refusing imagine is exceptioional intend over.. three e thousand train stations of paris are getting a facelift just in time for the olympic games. french capital wants to renov

. >>> well, general electric's turn-around is making at least that's according to the new ceo, after the company reported better-than-expected quarterly revenue this morning, strong results from its aviation division overshadow problems at ge capital and its still struggling power but it was all enough to send the stock up more than 11% today. itt traded $10.16. we're joined tonight by scott davis, theceo of millius research. for you, at big p the ge story right now is the credibility of larry culp, right? >> t at least half of the story. h e previous management team lost credibility we street. they cut the dividend to basicallynd zero then disappeared, fired, and these new guys came in and are buildii credibility. ink larry is great. larry is a very proven ceo and is a highgu integrity >> and you say in your note, ge, good is the new great. but to a certain extt that really rings true because the company still has a couple of oblems, do they not? is larry culp the guy to solve that? >> three monthsago it was a $6 stock. at that point we were talking about pential bankruptcy. going o

great renewable energy source and it's a fuel that we use to run our engines and turbaned to generate electricity let me get this straight i have the answer and i think the energy in the fuel that i can from that and then it goes this way and you know that you're getting at the bacteria that they're turning it into energy that's correct. each digester here is about two million gallons and we have eleven of them so that's twenty two million gallons of capacity east a mud shared the technology and now other water treatment facilities in brooklyn new york and in california cities of marin thousand oaks fresno and san diego are using it for. most of us don't think about the waste whether it's flushing the toilet or throwing things in the garbage it just kind of disappears and i think as a society we've been very successful at sort of highlighting where the waste go and i think as time goes on and the population grows and waste generation grows they will become more aware of waste generation this is a great responsibility that's when the sides have big impact and they are in the world for the next gen

out of general electric. breaking to a lot of us.t realize ge had this much money tied up in biopharma the company general electric is selling its biopharma business to danaher for $21.4 billion $21 billion of that will be in cash ge says it's going to use proceeds to reduce leverage, strengthing its balance sheet. there's a lot of comments about how from culp about how this is in keeping with their plan to reduce leverage, strengthen the balance sheet, and all the other things danaher, meanwhile, sees the deal to adjust the earnings per share the first full year. instead of us talking about this, me or you, i guess we should get warren's comments on this move. >> let's do just that. i do want to bring up this is something, warren, that we got viewer questions about randomly. ge control room, t-102. brian wrote in the, given the recent turmoil with ge, do you believe larry culp is right for the job? and what would you inform him to do why haven't you invested in a company like ge? >> i think he should sell the division for $21.4 bill

in 1863, that meant one of these small, electric generators relying primarily on static. the idea was simple, by interrupting the nerves of electricity and cutting that pain signal to the brain, they were able to calm the nerves, and in conjunction with the morphine, they had a pretty good cure rate. it started us down the road to our modern relief systems. think about this. you can watch television and see ads every day for patches that can be placed on the body, powered by small batteries, that do the exact same job. if you have undergone knee or joint replacement surgery or ortho scopic surgery, you may have been given one of these devices to place near your bed and pumping electricity to the nerve center, relieve the pain. inflammation as well. this is not something we think of from 1863, but because of the innovations of 1863, it leads us to where we are today. just around the corner, i have a larger, scarier version from the 1920's that will show us a little bit of where this is all going. in the civil war, we have a small device that on the site had a hand crank. in

toward better relations are to correspondent alex by hail of it will be here to discuss and later general electric has fought off its pharma business and the stock has topped the annual share of similar trading joins us to dig deeper into recent market moves all that directly ahead but first let's get some headline let's go. great britain on the edge of bricks that leads our global report today is prime minister theresa may reject for now at least a call from the president of the european council to delay the united kingdom's departure from the european union council president donald tusk earlier today told reporters that an extension of the so-called article fifty process for the u.k. to leave the e.u. would be a rational solution and signal that the e.u. would be understanding of an unnecessary delay at the same time mr tough seems to be pressuring ms made to show she. can line up the parliamentary majority behind any version whatsoever of a brick to deal much less specific demands from the heart brought to tears on her colleagues in the conservative party in a press conference today in egypt ms

. >>> meanwhile, general electric is downsizing its world headquarters.en restructuring its boston operations amid sagging profits. g.e. will also return $87 million massachusetts spent in an incentives package to lure the company there from connecticut three years ago. >>> and jpmorgan chase became the first u.s. bank to roll out itnnounced jpm coin, the digital token, used to instantly settle payments between clients. only a tiny fraction of payments will be made using the cryptocurrency. anne-marie? >> all right. that's really surprising to me. i thought after bitcoin lost so much of its value that was the beginning of the end for cryptocurrency, but clearly not when you have jamie dimon backing you up. >> it surprised me because in the past jamie diamond kind of poo-poo'd it. >> thanks. >> thank you. >>> ahead, surviving a mountain lion attack. a colorado man shares his story of how he had to kill a big cat with his bare hands. of how he had to kill a big cat with his bare hands. metal vibration therapy. ( ♪ ) (glass breaking) (gasp) not cool. freezin

companies have reduced fossil fuel use to generate electricity by 26%. that's 48 million gallons fewer of imported oil each and every year. [applause] the company's have also pioneered technology to integrate more renewable energy into the electrical grid. and delegations from around the world are coming to hawaii to learn from our experience. in agricultural we are entering a new age of innovation. one that will bring new jobs and opportunities, and decrease our reliance on imported foods. the future of agricultural relies on producing crops more efficiently and with less impact on the environment. farmers are constructing cutting edge greenhouses using auto mated production systems and analyzing data to increase crop medias. these modern practices will require new skills and a workforce grounded in science and math related education. companies like costco want to build high-tech greenhouses and use these new agricultural techniques in hawaii to complement the food production of local farmers and replace fruits and vegetables from out-of-state.

can club together and a book to try to build a wind turbine that will irrigate the land and generate electricity powerful about this is on its own that seems like an amazing story, then you find out it happened in real life. you find out william is a real boy and genuinely snuck into school, which is mind blowing. i mean, snuck into school to learn. i mean, i can't imagine myself sneaking in double english or math or anything, but this was what inspired him, and then he goes on to save his village. you know, learning about sustainable ways to get water for his people. >> that was the moment that really changed everything for me in the book as well, is thinking of what my relationship to school was when i was 13. >> trevor: right. >> you know, whether it was conceivable that i would be trying to sneak past teachers to get into the math class, you know, and just realizing, no, it's not conceivable, and the privilege of that, of my dynamic, you know, understanding the situation of this boy and thinking, that would be an amazing story to try and get out there. >> trevor: it's a wonderful story that

great renewable energy source and it's a fuel that we use to run our engines and turbaned to generate electricity let me get this straight i had a bunch up there and i think the energy in the fuel that i am proud that i have that it goes in there that i you know collect that you're getting at the bacteria that they're turning out and the energy that's correct each digester here is about two million gallons and we have eleven of them so that's twenty two million gallons of capacity east bay mud shared the technology and now other water treatment facilities in brooklyn new york and in california cities of marin thousand oaks fresno and san diego are using it. most of us don't think about the waste whether it's flushing the toilet or throwing things in the garbage it just kind of disappears and i think as a society we've been very successful at sort of highlighting where the waste go and i think as time goes on and the population grows and waste generation grows they will become more aware of waste generation that's a great responsibility that's when the sides have big impact and they are in the wor

downturn in the next three years. 42% of them predicted by the end of twenty twenty shares of general electric sort as m much as 15% s it announced plans to sell part of its life sciences business. danaher will take over ji ease of bio pharmaceuticals unit twenty one billion dollar cash deal. she has been trying to cut debt and reorganize its sprawling corporate structure. narrowing its focus to the aviation and power divisions. zhou has announced plans for an all electric car to hit the market before the end of this year. two eight model will also be sold in petrol and diesel versions but marks the french auto giant first. step toward its goal of fully electric fleets by. twenty twenty three electric car sales are growing rapidly around the world getting one point one million in. twenenty seventeenen the world's leading mobile tech trade show opens to the public with the new products including folding screens and five g. connectivity hitting the market. but it's the political backdrop on the future five g. networks it's cast a particularly longg shadowow. touching announcer explains. here at

puc and that's our greenhouse gas free power supply where we're putting our water to work, generating electricity. we've been the power provider for these departments, for san francisco, for some of the new neighborhoods in san francisco start -- well, for over 100 years we've been generating this electricity and providing services to san francisco and what this january report summarizes, just to highlight a few, is the fact that we've been working with pg & e to overcome some of the difficulties we've been talking about since the june 13th hearing. we've compromised in some situations where we're accepting a higher cost service. that's the primary service with low side metering and low side protection, rather than secondary service, just to move projects forward. in particular, six affordable housing projects were identified by pg & e where they were willing to allow us to take service to keep projects moving. we are, unfortunately, even in those situations risking further delays. so abou in the face of agreemen, when we try to move to the next level, we encounter difficulties, questions about t