. >>> pregnant anne hathaway dishes on divorce?>> and emma stone gives us 101 reasons to get excited for her cruella de vil transformation. >> look at the time warp. ♪ >> it's a drew carey show reunion with our special co-host! >> it sta now! >> "e.t."! >> welcome, everyone. please say hello to our special guest co-host, deietrick vader. >> "e.t." came to the set. >> we sure did. first, we have to take care of a little news. >> absolutely. the stop story. >> kevin hart breaks his silence after his near fatal crash and what caused the accident? >> the roof is crushed and the car is pretty totaled. >> the startling 35 report has 32 photos of kevin's mangles 1972 care cuda. you can see the crushed roof and shattered windshield. according to the investigation, his friend, jared stanton black when his reckless sudden and accelerati his girlfriend was in the back and it was converted into a storage area and no longer actually had seats.aid black wa under the influence of drugs or alcohol and also states no one properly. after the crash,

i believe even more so in berkshire hathaway stock.e been riding for years -- i have been writing for years in our client letters the biggest elephant mr. buffett can bag in his own backyard at the ohm omaha zoo at his own stock. over the course of the great bull market, berkshire is up 270%, a big number, s&p is up 370%. those are our bookends, fuif yo will, liz, that we view the decisions we make. i think he would have been better served buying a lot more stock the past 20 years than some of the missed cues of capital allocation. liz: would you regret it if he makes a play for all of bank of america by raising cash and selling all the others? >> we will be backing the stock with bells on our toes if he makes a significant move. liz: david, good to see you. he wanted to see more share b buybacks and a dividend >> i don't want to see a dividend. buy back the stock, reduce the flow. liz: interesting, you are one of a few in the world who have sold out the entire position of berkshire hathaway. we will check back this with you as the sto

warren buffett made a late night phone it's the financial crisis berkshire hathaway c.e.o. warren buffett made a late night phone call to then treasury secretary henry hank paulson with an idea about how the got called to then treasury secretary henry hank paulson with an idea about how the government might be able to turn the economy around paulson was asleep he had a busy not verman might be able to turn the economy around paulson was asleep he had a busy night working through various policy ideas with his team to restore confidence and wall street working through various policy ideas with his team to restore confidence and wall street egos on to say 1st he woke up he didn't know where he was who is this egos on to say 1st he woke up he didn't know where he was who is this person warring call and he said my mom has a handyman named warren person warring call and he said my mom has a handyman named warren and i'm saying who it why is my mom's handyman calling me you know so he was and i'm saying who it why is my mom's handyman calling me you know so he was so sleepy he cou

when focus on a surgeon general is how can we lower the barriers to people getting back to work and hathaway bring people together so folks controlled recover? thank you so much for the opportunity to testify today. this is a critically important hearing, and also want to give you a shout out, senator brown, for the work you're doing and. you all the been able to drag down your overdose rates in the state by over 10%. it's because of the partnership -- >> it in large part because we expanded medicaid and the president of the united states wants to take it away. i appreciate who appointed you. -- i don't know political philosophy, doesn't matter. preshift comments on work come on work requirements but the fact is when the president of the united states once to wipe off the books the affordable care act with no replacement on medicaid and the banquet given down, not very far yet, but driven down the death rate in ohio and addiction rate in ohio is because we have very, very, very important public health tool. >> that will be the final rule. the chair will thank you all for your testimony. reli

they control when to turn the power on and off >> the governor begged hathaway to come in and bernies it should be taken over by taxpayers. we are talking about billions of grand larce dollars for investments need to happen if not, in order to pay for the upgrades, does that mean power bills for californians which already have housing adjusted of the highest poverty rates in the nation, those bills are going to be going up. >> their ideas to floating statewide bonds, would help pay for part of it it is complicated and as you know, it is obviously a huge level here newsom realizes what he got in front of him and it is not going to be easy and end any time soon >> john myers, appreciate your perspective on this. we'll check back in with you as it plays out >> john myers with the los angeles times. >> apple's morning shows are falling flat with critics. could it be a problem for cappl? that's right after this. ♪ limu emu & doug and now for their service to the community, we present limu emu & doug with this key to the city. [ applause ] it's an honor to tell you that liberty mutual cust

anne hathaway said it's a done deal and you're on board. >> if she would like me to be.on't think the script's even been written. but in this magical business, you never know. >> come on hollywood. give the fans what they want. from the princess to our exclusive with the country music queen. ♪ >> we're on the set of dolly parton's new dance track. >> i can't dance a lick. >> then talk show titans week continues with geraldo's most epic film. >> it's embarrassing. >> and. >> i spent a year at "e.t." are barbie's obsession. >>> replaced by this 11-year-old on abc's "kids say the darnedest things." >> you're taking my job? when you're doing celebrity hosting stuff there are certain rules to it. you always agree to the rumor. you say, yes, that's true. that's true. if they say i heard you get paid $1 million -- nope. it's $5 million. >> kevin appears on sunday's episode too and things get real. so that early retirement we planned. it's going ok? great. now i'm spending more time with the kids. i'm introducing them to crab. crab!? they love it. so, you mentioned that that mon

its filing with the federal reserve said berkshire hathaway would remain a passive investor.bal news, 24 hours a day, on air and @tictoc on twitter, powered by more than 2,700 journalists and analysts in more than 120 countries. i am oahn ha. this is bloomberg. matt, anna? news outr first word of hong kong. minutes away from trading. a look at stocks to watch at the open, including roche, boosting their outlook for a third time as new treatments gain traction. severintalk to the ceo, schwan. this is bloomberg. ♪ welcome back to "bloomberg markets: european open." trading this wednesday morning, your stocks to watch. we are looking at roche. and we have also got a focus on the tech sector. let's talk about roche first. reporter: this stock up 2%. third quarter sales beat the analysts' estimates, for the third time this year, raising estimates, they are starting to move outside cancer drugs, and that is gaining traction. and i know you will be speaking to the ceo. matt: yes, we will be speaking to severin shortly after the market open. withhen what is the story online retail? r

. >> reporter: that's reverend al hathaway, senior pastor of union baptist church and one of the most influential voices in the city of baltimor he was skeptical, too, of a group trying to collect brains. >> as i began to work with them, what i realized was that the funding is kind of slanted towards a european dataset. so i said, "well, wait a minute, that's not really biased, that's just accessibility."di and so, 't see it as something that was structurally wrong, i saw it as something that we could correct. >> reporter: in collaboration with the lieber institute, hathaway and a group of fellow baltimore clergy members have created the first african- american neuroscience research initiative. their goal is to help the institute use the specimens already on-hand to fill in genomic gaps and create a publicly accessible dataset that medical innovation. and but even as they push forward, all those involved in the project are proceeding carefully, knowing that science has been used in the past to emphasize racial differences in harmful ways and exploit minority communities. as more becom

it's kind of cool for people to be able to own a share or par a hare of a company like berkshire hathawaylargely inaccessible to most americans. but by and large, the vast majority of consumers really need a diversified portfolio and any shouldn't have atr concion in any one particular equity. and so i thinkt's an interesting move by schwab. but i think it's lebron jamesly meaning lets for the vast majority of consumers. also, i think there is another point which is important to make which is that it's possible to -- to have this sort of actional exposure currently through exchange traded funds. and so that -- tft sort mechanism already exists. >> you know, there are those also critical of this type o a move. because any say it stcourages ins who should be long-term invested to buy and sell shares and its you know even the pros have a hard time finding the right inpoint and out point and could be detrimental to financial health. >> yeah, i think for the vast majority of oonsumers it really needs to start with thinking about your long-term financial goals and taking a more planning cent re

of course that's exactly what they did and of course i want to congress own shares in berkshire hathaway and wait and bank stock stocks and they owe me tons tons of money the money. again i don't know about out i know anybody sort out of any sort of mental balance sheets office but how into the terms of whether or not this is turns predator or not well feather we're not we're not this is predatory or not for warren buffett to call a guy in the middle of the night only sleeping and if he must find it to clean all the bike upright in the tour in italy when i thought it was the sleeping and of course reminds me of the predatory hospitals for example where you arrive in a perhaps a coma unconscious or your spittles for example where you arrive in a perhaps a coma unconscious or you're put under an sedated and then they they. have a fly by doctor who comes in and racks put under and sedated and then they they have a fly by doctor who comes in and racks. to charges you $50000.00 for a look at looking at your chart because the disease out of not an outward work here the same thing as he is of t

the devils where-- the devil wears prada becadee i was working in new york is a 26- year-old anne hathaway's in the movie and i just felt th movie. you know, it got something so right about working for a demanding boss in the media which i understood and she leplayed that role effoly. despite it's amazing how effortless she is and how many accents she can s in langua she can do. you tell the story about tina dealer and that opens your book? >>yeah. merrill, she is 26, she utis of yale school of drama, or yale school of trauma, however cides she maybe wants to be m ies, she is still doing is theater, but let me try movies. she goes into inauguration for king kong. dena delorenzo's remake. he is an italian producer, little does know that she learned italian at vassar. wnso she sits and he is sitting there with his son, and he says to his son italian. why did you bring me this, this is so ugly. she undersnds every word is saying, so she says to him, look, this is what you see, this is what you get. and then, she gets up and walks and jessica lange takee role. so, bullet dodged for merrill i gue

democratic presidential town hall brought to you by "modern love" starring tina fey, andy garcia, anne hathaway and dev patel on october 18th. the ups and downs of frequent mood swings can plunge you into deep, depressive lows. (crying) take you to uncontrollable highs. (muffled arguing) or, make you feel both at once. overwhelmed by bipolar i symptoms? ask about vraylar. some medications only treat the lows or the highs. vraylar effectively treats depression, acute manic and mixed episodes of bipolar i. full-spectrum relief of all symptoms. with just one pill, once a day. elderly patients with dementia-related psychosis have an increased risk of death or stroke. call your doctor about unusual changes in behavior or suicidal thoughts. antidepressants can increase these in children and young adults. report fever, stiff muscles, or confusion, which may mean a life-threatening reaction, or uncontrollable muscle movements, may be permanent. side effects may not appear for several weeks. metabolic changes may occur. movement dysfunction, restlessness, sleepiness, stomach issues are common side effec

duracell is a unit of berkshire hathaway.ommented on the lawsuit but energizer seeking damages for false advertising and want to stop the improper advertising as well. they say they are the best but whose is cute you they are similar. rob: who is best? the cheaper one. thank you so much. a student government banned the pledge of allegiance at its meeting. the group when university of oklahoma says it is incompatible with the constitution for saying one nation under god limits freedom of religion and speech. one student points out the pledge was into silver columbus day which is recognized as indigenous peoples day. many students call this move un-american. jillian: a high school taking heat for a banner at its homecoming game. take a look at this. you saw the football team smashing through the sign that reads, quote, make america great again, blasted on social media, proving what appeared to be a political message. a lawyer for the school district said that was not the students intention. rob: chicago police ordered not to he

berkshire hathaway is seeking remission from the fed to potentially increase its stake in bank of americare than 10%. anything over 10% will often trigger a regulatory review. bank of america is now higher by 3%. this is something that people have been speculating about. it appears they are asking permission to go over 10%. u.s. pullback in syria has created a power vacuum and let russia as the dominant power broker in the region. we speak with former defense secretary -- carter about what -- ash carter about what the u.s.'s next move should be. this is "balance of power" on bloomberg television and radio. ♪ and radio. ♪ david: this is "balance of power" on bloomberg television and radio. i'm david westin. ash carter has spent his career in and around the pentagon serving as the number three and number two official at the defense department before becoming the secretary of the defense department under president obama. he has written about his experience in a new book. now he is director of the belford center at the harvard kennedy of school. we welcome him back for today's conversation in

high-quality names such as apple, visa, berkshire hathaway, boeing also lower.any places to hide for investors as we are contending with the selloff. it is not new, we had the disappointing eyes imprint, but it goes back months. let's look at the chart in the terminal. the third quarter tracking as risk off all the way in april. what we are looking at here going back to the third quarter in july, in yellow, we have gold. in white, we have treasury futures. in blue, we are lay at the s&p 500 futures. in orange, we have the nasdaq. prior to july 31, all of these assets were trading higher. gold taking off, treasuries taking off, investors going into those haven assets. that has been the story. the nasdaq having its first down quarter of the year, perhaps a tell on the volatility we are seeing now. we are certainly seeing that continue on the day. truly a bearish day for the financial markets. david: that chart really tells the story, thank you. we want to turn to the opioid crisis. this has hit the united states hard, and the health of our citizens and the expendi

great actors, anne hathaway, tina fey, and dev patel.ies. >> each forms of love. >> stephen: do you have a favorite love story? >> well, i feel like all drama is sort of love in some way. but the one for me, i played hamlett a couple of years ago, and "hamlett" to me is the greatest play ever written, and weirdly to my mind, the greatest love story. it's about familial love, love of your country, love of your parents. romantic love. >> stephen: he's not a good boyfriend. >> he's a bit of a downer. >> stephen: he is. >> at least "fleabag" didn't end up in a pond. >> there's a huge amount of comedy in "hamlett" as well. and that's the greatest love story ever. and it's about a young man who's got mental health issues. and it's incredibly -- >> stephen: depressed. >> yeah, he is. and that story, which always just blew my mind, a 400-year-old story, and the idea about it's about a young man who has mental health issues who has been told by his family, "don't feel, be a man, be a man." we did it 150 times, and it's nearly a four-hour-long pla

haidi: berkshire hathaway is seeking permission from the fed to raise its taken bank of america abouta level of it offers triggers a regulatory review. the company revealed in july the holding has reached the threshold and has filed an application with a number of insurances it will remain a passive investor in bank of america. if you are away from the screen, you can always find analysis and the day's big newsmakers on bloomberg radio. ♪ haidi: 9:30 a.m. in sydney and the market open is 30 minutes away. here is what it comes to futures. gains on wall street, seeing upside of 4/10 of 1% ahead of the open. it is quite rare we are seeing the trade situation between u.s. and china take a backstage as u.s. earnings drove the majority of gains we saw overnight as well as optimism a brexit deal may finally be in the mix. i'm haidi stroud-watts. shery: i'm shery ahn. let's get the first word news with riddick a coopetika gupta. ritika: sterling jumped as negotiators seem to be closing in on a new draft brexit deal. officials in brussels said the talks have not concluded and there could still

well energizer is taking the matter to court now suing berkshire-hathaway owned duracell for falselytating its quote optimum batteries can outperform all the other batteries. according to energizer, customers actually need to read the tiny little mice-sized print to see -- that's their term, mice-sized print to see that optimum batteries may actually outperform duracell's copper top batteries not rival batteries. duracell is a small part of berkshire business. energizer still getting hurt, down about 7% at the moment. to the economy, u.s. manufacturing saw its biggest contraction in september since june of 2009. that's when the great recession last month the manufacturing index fell to 47.8% from 49.1% the previous month. now, we should tell you that anything below 50% in this number indicates contraction, shrinkage. to our floor show and john, we know the markets hate it right now, but can you glean from this manufacturing number and the impact this data will have on the markets let's say beyond today? >> i think there's so much going on that's on our plate. you throw this number on

reporter: in collaboration with the liber institute, hathaway and a oup of fellow clergy members havereated the first african-amicaneuroscience richards initiative. their goal is to specimens on hand to fill in genomic gaps and create a publicly accessible data set that would speedd oth research dical innovation. those involved in the project are proceeding carefully, knowing that science haseen used in the past to emphasize racial differences in earmful ways aloit minority communits. as more becomes known about migedifferences between racial groups, some are concerned that could happen again. >> no genome is without its advantages and its disadvantages. git is true of everyome. this is just a matter of identifying them and coming up with ways to make them less debilitating. reporter: back in california, on his feet with the support of his wife. >> we held each f other a few moments then he stopped and said look at me, it is ok. we are going to get through this. it is just another bump in the erroad. report more than three dozen friends and family members came out for a recent cancer

. >> narrator: and he's found love with hollywood a-lister anne hathaway. >> he had this beautiful girlfriendad all the credibility in the world. >> narrator: but this italian is about to see his american dream fall apart... when his fraud is exposed. >> he wanted to live the lifestyle of the rich and famous, but he wanted to do it with everybody else's money.

warren buffet positive on b of a, looking to increase berkshire hathaway's stake. good morning.t yesterday. jp morgan, stock at a record high. they say the consumer is strong. are you seeing, though, any troubling trends, interest rates coming down, that's a sign of trouble for the banks. are you worried by anything. >> not really, i'm worried politically after the debate last night. other than that, i think china will be resolved by next year's election. we have phase one going. we have phase two, phase three, we'll probably have phase four. lauren: but the banks particularly? >> the banks, no. i'm worried about the interest rate cut an the net interest margins. other than that, i think they trimmed their balance sheet in the last correction in '08 and they've been sitting on hordes of cash. how many people do you know with beg accountbank accounts and the earning 0.01% interest. lauren: what do retirees tell you? >> they're worried they're not saving enough, they're not saving tax smart, that's why i wrote the book, retirement reality check. people are buying stupid stuff. lau

he broadcast out to warren buffett last week that he hoped berkshire hathaway energy, a huge part of the besrkshire umbrella, was practically begging them, come on, buy this in bankruptcy. >> i recognize as the governor described, there's going to need to be a competition of ideas. we need better ideas than are currently in the bankruptcy court which are two hedge funds looking to take over this company. i would expect like any hedge fund, that it would be looking to extract value from the assets and this company may go back into bankruptcy for a third time in just a few years and the taxpayers of course will be left to pick up the tab. so fundamentally, we have a situation where we know either the rate payers or taxpayers are going to be picking up the bill for this and most of us know those are one and the same. i think we should just call the question, at least align the financial interests of the company with the public interests. liz: you really think this has -- well, it wouldn't be the government, it would be the owners, i suppose, the customers could run it better than the pe

dow jones reports that chief investment officer of wedgewood partners which has held berkshire hathaway stock for 20 years sold his firm's entire position by the end of last q2. now, in a letter to investors, he expressed frustration and annoyance that the oracle of omaha has not done enough to return value to shareholders, arguing that share buybacks have been stingy and acquisitions have been more hit -- more miss than hit. as he writes, quote, thumb sucking has not cut the heinz mustard during the great bull market of 2009 to 2019. he is joining us on wednesday to explain why he has sold out of his berkshire position. another investor is demanding buffett use at least 15 billion of the company's 122 billion cash pile to pay out a dividend. now, buffett has expressed to fox business and to me multiple times that he -- [inaudible] -- at the thought of paying a dividend and he would rather make acquisitions. berkshire stock is up 1.9% while the s&p is up 18%. that may have something to do with it. to the u.s. china trade war where the markets clearly believe it is still a war. why? beca

bank of america two more to 10%, a level that often triggers a regulatory review, and berkshire hathaway threshold back in july. its filing with the federal reserve says berkshire will remain a passive investor in the lender. unveil eu is expected to antitrust measures against broadcom, according to financial clients. for them torare pause the activity before the conclusion of a full investigation. the watchdog could talk to the clients about buying chips elsewhere. to is agreeing sell the bellagio resort to blackstone for over $4 billion. it will continue to operate the property under a lease agreement. it is under pressure from investors to unload its casinos. just twots will have owned properties then. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2,700 journalists and analysts in more than 120 countries. i am oahn ha. this is bloomberg. ha, thank you. j.p. morgan rose to a record after posting a jump in fixed income trading revenue and investment banking fees. goldman did not do as well, taking a hit on investments such as uber. city paired losses af

did you see gavin newsome actually said if berkshire hathaway wants to put in an offer to take over.r pg&e, now is the time. >> now is the time there was a period looking for him to do that remember that? >> yeah, i'm sure they would love to see somebody come in and step in. that's an infrastructure that's been underinvested in for decades and decades. they have a major problem on their hand yeah, they may seem the easiest answer for a lot of these people. >>> in the meantime, lvmh confirmed it is in preliminary takeover talks with tiffany. reports say the luxury goods maker whose brands include christian dior, louis vuitton offered $120 a share in cash for the upscale jeweler to value the company at $14.5 billion tiffany shares this morning up by 21% on this news. gain of almost $21 to $119.50 lvmh is trading flat at this point. >> i spent the night as you imagine on the phone about this deal i think what you're going to see just to sort of tell the viewers what's going to happen here, over the next week, as you imagine, tiffany will go through, quote the motions they will reject th

berkshire hathaway six permission from the fed to raise its stake in bank of america above 10%, thatat often triggers regulatory review. the company revealed in july its holding had reached that threshold and is now filed an application with a number of assurances that it will remain a passive investor in bank of america. saudi aramco may have to pay as much as 450 million dollars in fees to advisors working on its upcoming share offering. we are told a group of about 20 banks are off -- are involved in preparations and the fees would represent around 1% of the $40 billion aramco is hoping to raise in the ipo. ♪ that is usually important this is a durable solution because the negative impact of these trade policies are coming through confidence of facts. if we don't think there will be a durable solution, these effects continue to have very weak manufacturing, very weak global trade, and we need to stop that. >> technologically, you are going to correct more and more. targeting or protect is. -- to the 21st century. >> what we are seeing is day-to-day tit-for-tat which is a normal pa

today, academy award winner anne hathaway. and from the new sci-fi series, alfre woodard.

the rly zoe, the daughter of lenny kravitz and lisa bonet, will follow in the footsteps of anne hathawayfeiffer, who joins us right here live in a few moments to talk about her new movie, "the batman," which the title, is scheduled to hit theaters june 2021. >> wonderful to have her here with us. >> good timing on that. [ applause ] >> lovely, lovely woman. >>> things looking up for justin bieber. he just got married in case you hadn't heard. now he's making music history. a 25 years old he has become the youngest solo male artist to have songs on the hot 100 list for 200 total weeks. that is a huge deal. justin's new song put him over the top. it's a collaboration with country duo dan + shay titled "10,000 hours" but it only took 11 days for it to get to the top ten. it's now number four on the hot 100. it's number one on billboard's country songs chart. that's the third time for dan + shay and the first time for electriclatin, hot had hip-hop, hot rap and hot r&b. that is totally hot. [ laughter ] >> couldn't resist. >> congratulations, justin. >>> and finally, take a look at the fierc

berkshire hathaway disclosed it is filing with the federal reserve.y say they will remain a passive investor. is for the third time, roche boosting its outlook as sales look better than expected. the growth drivers are new drugs which performed well in the last quarter and the erosion in sales has not been as bad as some feared. that is your bloomberg business flash. francine: thank you. let's get the latest from hong kong. threatened unspecified countermeasures if the u.s. congress and next legislation supporting protesters. and in her annual policy address, carrie lam admitted the city has entered a technical recession. >> these industries have recorded the worst business performance ever. the hong kong economy has already slipped into a technical recession. in mid-august, the government lowered the economic growth forecasts for 2019. francine: joining us from hong kong is bloomberg's yvonne man. can the measures help break the political deadlock? >> it's hard to say. she delivered this 29 page policy address but not without drama. it was quite a ra

. >> governor, we have heard from governor newsome that he would like to see berkshire hathaway or someone to maybe run it better than it has been run to this point. we had tom fanning from southern company on he said no way would he invest in this because california politics is too hard to get your hands around and try and figure out what would happen here >> as you know, becky, utilities are guaranteed a rate of return. no other corporation is. and with that comes a certain responsibility to act in the public interest because you know you're going to make a profit. a warren buffett would make a lot of sense to me we need to look for responsible capital, people that realize when you're in the utility, a large part of what you do has to protect safety, ensure power is delivered, and to act first in the public interest. everyone else has to worry about making return on their investment for their shareholders utility executives and boards of directors do not so the leadership at the top of pg&e and on the board is very important and obviously warren buffett was interested, i think he would b

these assets to come in and maybe step in he asked specifically for a warren buffet and berkshire hathawayid for these things and would like them to take them over. would you be interested in taking over these power plants does it make sense is it a situation you'd like to be -- >> you know, it's almost like the broader economy we've talked about in the past where business loves certainty, you know? we'll invest long-term capital if we see kind of calm waters to invest in. i think that california's not in that situation right now sure, there may be some people that want to come in and speculate on how this thing be's going to turn out but, boy, there are a lot of more cards to be turned over before, i think, you'll get credible long-term investors in this sector over there. >> tom, separately we had a congressman on yesterday from california who seemed to suggest it should be taken over by the state and that these should be run by the state. does that make sense to you? because i was sort of pushing is there a public/private partnership? how do you feel about the private sector being there

. >> we learned berkshire hathaway has requested to buy more. >> i think that's the story.nt to buy a lot more like with wells fargo, they own a stake. the buy backs are in the relative position. >> let's get to wolf, what do you see? >> the beat is 75 cents reported compared to an adjusted consensus of 58 cents or whether it is 54 adjusted for sustain a con sen sis of 51. either way that leads out to a bet of an eps beat revenue coming in at $23 billion against the forecast of $22 billion revenue is that it is essentially flat year over year. citi, wells fargo flat that highlights the general environment. this is an example of a bank very tied to the yield curve the net interest margin came in a little bit better than expected, 2.41% down four basis points many were worse than that. on top of that, net interest income is better than most rivals yesterday because loan growth was strong. the net business income came in in line with expectations versus others being a little behind it was up 1% yearfact, bank of has a slight increase in net income and i don't think any of the

make a big -- spin it out >> spin it out it's sort of a -- it's a different version of berkshire hathawayreaking news overnight iran said one of its tankers were attacked by two missiles in the red sea. john kilduf, cnbc contributor. john, welcome. we're hess sent to say anything about what's really going on here that's why we have you can you say some really inflammatory, incendiary stuff >> i'm here for you. >> would the saudis attack iran? did iran -- did something happen that they -- i don't know, things happen, right things explode does it look like it was actually missiles from the outside? do you know anything at all about what's happening here, what's likely the real story >> i mean, there's complete disinformation about the whole incident, and i'm calling it an incident, not an attack. could be a very scared ship captain whose engine room blew up, felt like a missile, sounded like a missile so he's calling it a missile listen, the saudis swallowed their pride in whole but not responding to the abcac attacks weeks ago. they want to get the aramco ipo out the door they don't want a

wharchg do you make of warren buffett beer shire hathaway requesting permission from the the federal move e reenforces positive outlook on bank of america and the industry as a whole and june of this year, six of his firms top ten holdings for financial what are your thoughts, tom? >> maria i thought that was most important announcement yesterday but more important than earnings announcement for other companies was warren buffett sees that the financial services industry in general and banks in particular, is really an undervalued sector in the market. and why? why other investors don't see that i'm not sure. but if you look at the relative multiple of bank and p multiple of banks today they are as low as they've ever been, and yet the industry is at peak profitable. i don't get it. >> tom. but tom a decade ago we were talking all of the time about too big to fail what a threat that was to the my now as you say, we're seeing the two biggest banks jp m and bank of america, kind of leading the charge, and particularly on consumer market and taking market share. why are the big banks in