jason: and i'm jason kelly. so listen to us on the radio. , 106.1us xm channel 119 in boston, and a.m. 960 in the bay area. jason: and in london on dab digital. we have a pretty cool story. jason: amazing. this is a high-altitude balloon company. they think their balloons can ultimately predict the wathe forer, look out pirates, and maybe even take tourists into space. carol: we talked to our reporters. >> we are able to send all kinds of things to the edge of space, from communications, really awesome weather applications. in the future, only want to take people, as well, but we really are focused on the whole communications aspect of the company right now. carol: our producer is going to want to show the video. what was interesting about that, that was your first payload you guys sent into the atmosphere. as a result, i think it gave you money to do a lot more research and development and to what you -- and to fine tune what you are doing. >> it has been great. we have been able to have paying customers on all

i am jason kelly. carol: i am carol massar. n listen to us on sirius xm channel 119 and a.m.1130 in new york, in boston, washington, d c, and in the bay area. jason: and in london. in the future section, we take a look at the demographic problem in japan. the population is getting older and shrinking. carol: as a result, there is increasing demand for the services that clean out and dispose of the property the elderly leave behind. jason: it is an amazingly big business. here is jillian goodman. jillian: japan has had seven consecutive years of population decline. it creates problems in a lot of ways, but it has created a problem that has the sole industry, it is this whole industry of people who come and clean out the homes and find new homes for those goods. jason: what is it that is behind this from a japanese perspective? in terms of history, i guess. jillian: one of the things we cover in the story is this japanese concept that is basically about the idea that things have a life beyond the life you have with them. things ar

jason: and i am jason kelly. carol: coming up in this week's issue future with robot taxies. , awe will introduce you to a pioneering driverless startup. jason: and how best buy is surviving and may be driving in an amazon world. carol: first, we start with a cover story. we will take a look at president trump's trade policies. jason: we look at the applications of the policies around the world and here at home. carol: and the destruction of the trade policies and how lasting they might be. jason: we talked with taylor riggs. peter: he is making changes that are likely to endure for a couple of reasons. one is, a lot of international commerce has to do with trust. it is not just the words that are in the trade treaties. or the phrasing in the wto. it is the sense that countries have that open borders, and free trading is good from both sides. if that trust goes away, you feel like the other party is trying to hurt you, and it can cause a corrosive damage that is not reversed easily. and then you have the fact we a

i am jason kelly. carol: i'm carol massar. ahead in this week's issue, the value of missing art. jason: we also go to the case of the stolen bourbon. carol: we start in germany and the threats facing angela merkel. jason: populism and nationalism sweeping across the continental. -- across the continent. what are the implications for angela merkel? carol: what are the implications more broadly for the european union? >> merkel is on the back foot at the moment and essentially over her liberal policy. but specifically on migration. now, merkel has a coalition government and one of the three parties in the coalition, her bavarian sister party, is kicking up against her policy. bavaria is on the front line of a the migrants who traveled north from the mediterranean sea up through europe and into the richer countries, mainly germany and sweden. and they say she's essentially opening the border to too many people, and they want to send these people back. carol: this is a fascinating story because we are seeing this globally, this wav

jason: i'm jason kelly. we are joining you in new york. carol: this week's issue is about the space race. jason: so much going on. tiny rockets and drug therapy at the international space station. it goes back to money. billionaires are pouring money into the space race. carol: it is an economic story. lebron suspect what we are from our reporter who took us to spacex. jason: a woman behind elon musk is making it all happen. max: gwynne shotwell is the coo and president of spacex. she has been one of the people closest to elon musk over the last 15 years or so. she is the person besides elon musk who is most responsible for turning this into something more than a wild set of dreams to colonize mars. jason: where did she come from? max: she is from the midwest, north of chicago. she started at chrysler and moved into the aerospace industry. musk founder in 2002 when there was not a lot there. it was like, we're going to make cheap rockets and make spaceflight cheaper and eventually get to mars. gwynne said, we will have to sell some of these

jason: i'm jason kelly.arol: a conspiracy to put a president on trial. >> life without angela merkel. carol: this issue is all about height. >> we go digital. cash getting stolen using the internet.' carol: probably still going on. >> at robinson has more. >> this is a big break in a case that has been legendary inns at least 2013. a whole network of banks in russia, other eastern european countries, germany, the u.k., and taiwan, has been spitting at cash from atm's. and these mysterious characters have an collecting the cash and making off with it. the authorities have been chasing these mysterious cyber thieves for a long time when i got a really big break in 2016 in taipei. one of the thieves dropped a bankcard, just dropped it. for the first time, the cops could get their hands on something physical that was a lead to the gang that had been running what had been known as the carbon act's ever theft. >> i want to take you back to something you mentioned right there, which is it feels almost cinematic, li

i am jason kelly. carol: i am carol massar. n: in the economic section, we go to sweden where high taxation led to record surpluses. >> those surpluses are under pressure because of the welfare needs of hundreds of thousands of refugees. they are facing a lot of challenges because they are taken into many refugees relative to their population. over 600,000 for a population of 10 million people. at the same time, there are other factors. people are living longer. the birth rate is very high. network that we all know about, everybody thinks and talks about it. there are these amazing services. it is really being strained. is creating a lot of interesting and troubling problems. carol: that is a really good point. this is a place that has incredible amounts of taxes but they have great medical care, free education. you have all of these great services. jason: paid parental leave, everything we all talk about. rest your head on that notion, to live in sweden and be taken care of. but this is the fabric of society being questioned. i

jason: and i'm jason kelly. here at bloomberg headquarters in new york. rol: coming up in this week's issue, a question. can the republican party survive a trade war? jason: we also look at the complicated relationship, to say the least, between vladimir putin and donald trump ahead of the big summit next week. carol: but we begin with our global cover story about tesla. jason: elon musk has made a lot of promises to investors and customers. can he live up to them? carol: building a car turning out to be pretty tough. jason: amazing. here is max. max: tesla quite famously for the last year and a half had been kicking the can down the road on its goals for its model 3, which is the mass-market sedan. carol: $35,000, but -- jason: $35,000 the average. max: selling price for a car in the u.s. is somewhere around $30,000. $35,000 for the base model. it is the least expensive model tesla has to offer. there is a ton of demand for this thing, and yet, tesla has not been able to produce these in the numbers that they wanted. that has kind of led to this weird, bi

i'm jason kelly. carol: and i'm carol massar. listen to us on -- on siriusous and on a.m. 1130 in new york, 99.1 fm in washington d.c., and a.m. 960 in the bay area. jason: and in london and asia on the bloomberg radio plus app. in the business section this week, collateral damage in the global trade war. carol: right. we have to think about chinese actions against american brands that could hurt the mainland partners. jason: it is quite -- it is quite a twist. jim: unlike the u.s., where we have a trade war and we say that is bad, in china what they normally do is whip up the public to sort of boycott the of companies from countries they don't like. and in the past that has been , very detrimental to companies that want to do business in china. china is the largest market in the world. everybody knows that and everybody wants to do business there. you don't want to upset the chinese populace. beijing tends to use that as a negotiating chip. and so, that has happened before with south korea. we use in the story an example of a re

i am jason kelly. carol: i am carol massar. n listen to us on sirius satellite radio and in boston, washington, dc, and in the bay area. jason: and in london. in the future section, we take a demographic problem in japan. the population is getting older and shrinking. carol: there are increasing demands for the services that clean out and dispose of the property the elderly leave behind. japan has had seven consecutive years of population decline. created as it has this whole industry -- is this whole industry of people who come and clean up the homes and find new homes for those goods. that is behind this from a japanese perspective? jillian: one of the things we cover is this japanese concept that is basically about the idea that things have a life beyond the life you have with them. things are reused. that is something in the post-world war ii economic boom seems to have been forgotten in a lot of the culture. thegs like the collapse of 1990's, the big earthquake and tsunami, brought that back for a lot of people. >> so many

first focuses on energy with more than $9 billion under management and we're very lucky to have jason kellytop man. jason: i am here with alex krueger, as you said he is the ceo of first reserve and has been in the business for a long time, more than three decades. i have to ask you, where are we in the current energy cycle? alex: great question. i have to tell you, if we knew likely be very easy. [laughter] clearly there is a lot more volatility in the market today than we have seen for some time and a lot of deflationary pressures across the industry in a lot of different respects. we have seen the shale in that america dramatically change the cost structure of oil globally, and it has had repercussions that were most pointed in november of 2014, with prices declining rapidly. since then, the industry has gone through a check out. -- shake out. around how much capital has been expectations.he through a question is what is the right long-term expectation that people can plan around, and how did the equity markets think about how to value energy companies in this changing environment. jason

jason: and i'm jason kelly. carol: coming up in this week's issue, a question. ican party survive a trade war? jason: we also look at the conflicting relationship between vladimir putin and donald trump ahead of the big summit next week. carol: but we begin with our global cover story about tesla. jason: elon musk has made a lot of promises. can he live up to them? carol: building a car turning

alix: thanks so much, jason kelly and peggy collins. have a radio show your joining. >> 2:00 to 5:00, with carol massar. tune in. coming up, sergio marchionne heading over the ceo and the challenges facing mike manley as ceo. this is bloomberg. chrysler saw a assets expanded more than 10 fold under sergio marchionne. -- be a chrysler -- fiat chrysler saw assets expand more than 10 fold under sergio marchionne. as marchionne tried and failed to do with gm. chris bryant joins us now from london. what would be the logical merger that would move the story along without marchionne? >> it is an interesting question. the partner in his eyes is gm. there are plenty of other companies who might find fiat's assets interesting. a strong franchise in the united states with jeep and ram which companies in europe might find interesting. that a buyer in china might one day approach. to doanley does not have a deal. the company is better these days than it was when marchionne took over. project aing he will message of steady as she goes. alix: what abo

jason: i'm jason kelly. we are joining you in new york. week's issue is about the space race. jason: it goes back to money. billionaires are pouring money into the space race.

jason: and i am jason kelly. carol: coming up in this week's issue, a future with robot taxies. troduce you to a pioneering driverless startup. jason: and how best buy is surviving and may be driving in an amazon world. carol: first, we start with a cover story. we will take a look at president trump's trade policies. jason: we look at the applications of the policies around the world an

jason: i am jason kelly. carol: a conspiracy to put a president on trial. ontemplation on what the continent will be like without angela merkel. jason: and we go digital. we look at something happening all around the world, cash getting stolen using the internet. caro e

joining us now is jason kelly. jason: i do not like that proximity to bro culture.t kidding. let's start with deutsche bank trying to woo private equity. what is this new push and how significant is it from a departure from past strategy? jason: it is about deutsche bank trying to get back in the game in a lot of ways. they work toward the top of the table therefore a while. this is a very lucrative business, as both of you know, and only getting more lucrative as private equity firms continue to have extraordinary amounts of money to put to work, to the tune of $1 trillion. yesterday, we had a scoop you're on bloomberg about this $20 billion plus fund that blackstone is setting up to raise later this year. but deutsche bank is also saying they're planning to basically allocate more of their balance sheet to some of these riskier deals. how does that fit into the deutsche bank that is trying to be ok with regulators? jason: things are going great at deutsche bank, not sarcastic. that clearlylement is going to make regulators perk up to some extent. in fact, embarkin

carol: i'm jason kelly. carol: -- let's not forget that this issue is all about heists. : go digital and look at something happening al a

joining us as jason kelly to talk about wall street. ard branson speaking to david rubenstein on the "peer-to-peer," program. jason: i'm interested to hear we >> we spent 40 years working on our space program and it's been tough and space is tough. it is rocket science. think we are on the verge of finally fulfilling that dream. before the end of the year, i in a virginitting like expatiate going to space. rubenstein is david speaking in "peer-to-peer," with richard branson. at the 95 tonight. jason: i liked by the end of the euro will be sitting in space. it's $250,000 with the market of people who want to goa sarcastic. i get he wants to go into space, but $250,000 for like half the height of what the satellites are? what do you see the kind of cash? david: the people we're talking about, to $50,000 -- jason: we talked about the space race a story as between countries, this is the space race between a bunch of dudes who probably are competing in a different way from a commercial perspective. i've had a chance to read in to this new iss

julia: joining us now is jason kelly, executive editor for global television. hink, is it still expensive? jason: cheaper than it was. that is undeniable. the question is going to be, is it cheap enough, and is there enough there that either an investor or, david, to your point, another banks whoops in to -- bank sweeps in to prop it up a little bit? some than that jumped out to me was maybe it is like a little brexit playyo -- for a big u.s. or big chinese bank as business shifts out of the u.k.? david: there are conflicting reports about whether jpmorgan is interested. it seems like it is kind of in play. with all these reports, something is going on. jason: there was chair reaction this mine, and investors want it to be in play. it is the most it has gone up since april of last year. julia: wishful thinking. talking about the saudi aramco ipo, is it really going to happen? jason: reports say it may not happen at all because of political risks in just the risk of having something this big out in the market. this is the centerpiece of the crown prince over ther

insulin's prosecutors crack down on one -- alix: joining us now is jason kelly, bloomberg's new york bureau chief. cap. the share tank ceo is out. what was the problem he was trying to fix that he did not do a good job in? jason: this is voice broking as they say. people are calling their broker to place an order. this may come as a surprise to you, it is not a fast-growing business. alix: people still do that? jason: some people still do. what happened here is the cost has gone up. the company will say this is about brexit, about the roles that come with transparency and but you seeatnot, the chart right here. alix: it hurts. jason: the profit warning and the ceo leaving, investors are not psyched. david: let's go from derivatives to goldman sachs. a report that they want to get their wealth management business and they are going to do it by having their dealmakers referred the guys you make a lot of money on their deals over to the wealth managers. they have some catching up to do when it comes to wealth management. that was one of the surprising things to me because goldman is a bi

jason: and i am jason kelly. we are joining you from bloomberg headquarters in new york. 's issue is about the space race. jason: there is so much going on talking tinyare rockets and drug therapies at the international space station. carol: we are also talking comment mining. jason: it goes back to money. billionaires are pouring money

jason kelly and lisa abramowicz, thank you both. boeing ceo and expressing concerns about u.s. trade tensions. watch us tv and online, look at our charts and interact with us directly. send us a question or ideas. this is bloomberg. alix: companies weigh in on the effects of a trade war. dennis muilenburg says he is concerned about the possible fallout. guy johnson sat down with the company ceo at the air show to discuss the outlook on global trade. >> we are concerned about the discussions right now around trade. our business thrives on free and open global trade. going topeful where find solutions as alternatives to some of the discussions. this is important to us. alix: joining us now is brooke sunderland. have they seen any affects yet? >> they say they have not but important is the key word. companies,u.s. boeing is abominable to trade tensions with china. boeingk at the list -- is vulnerable to trade tensions with china. you look at the list of companies that china is going to be loathe to target. you look at semiconductor companies and technology companies. boeing i

joining us now is jason kelly.first one to say we are going to take a majority interest in this. why does bmw want to do this? they export a lot of cars to china. from the united states. >> this is largely about, in part, the trade war. bmw is so relying on a factory it has in the southeast part of the united states, they are worried about the cost rising, and that is what's happening here. they are also taking advantage clearly of the chinese government loosening regulations on foreign ownership. this has been one of the big challenges for any company trying to do business in china. david: the most immediate result of the trade war with china is on the auto companies are going to china to make cars. first tesla, now bmw. >> exactly. certainly there is more to come. this is a complicated element of the trade war when you have global companies, especially non-us companies. u.s. companies not being able to extricate themselves because of this joint ownership but european and other foreign companies will have an easie

she questions kelly and husband jason and sees red flags right away.your initial reaction when you meet them? >> watching and listening to the interviews, you know, at that point i knew that there was -- something wasn't right, there was most definitely a possibility of their involvement. >> hi, i'm chief rizzo with iron county police, nice to meet you -- >> reporter: chief rizzo wonders if jealousy over the affair may have something to do with the missing man. she eventually gets a search warrant to enter the cochran house. police gather evidence. but make no arrests. then, under the cloak of darkness, the cochrans flee to indiana. >> normal people pack their things and take them, they don't just leave everything behind. which is what they did. >> reporter: the neighbors they left behind in michigan tell chief rizzo the cochrans began behaving strangely around the time chris regan went missing. using power tools in the middle of the night. then came an invitation for dinner. >> kelly and jason asked if i want to come over for dinner one night. i was l

jason: and i am jason kelly. we're joining you with bloomberg headquarters in new york. up in this week's issue, a future with robot taxies. we will introduce you to a pioneering driverless startup. jason: and how best buy is surviving and may be driving in an amazon world. carol: first, we start with a cover story. we will take a look at president trump's trade policies. jason: we look at the applications of the policie

jason: and i'm jason kelly. here at bloomberg headquarters in new york. this week's issue, a question. can the republican party survive a trade war? jason: we also look at the complicated relationship, to say the least, between vladimir putin and donald trump ahead of the big summit next week. carol: but we begin with our global cover story about tesla. jason: elon musk has made a lot of promises to investors and

jason: and i'm jason kelly. carol: coming up in this week's issue, a question. arty survive a trade war? jason: we also look at the conflicting relationship between vladimir putin and donald trump ahead of the big summit next week. carol: but we begin with our global cover story about tesla. jason: elon musk has made a lot of promises. can he live up to them?

jason: i'm jason kelly. we are joining you in new york. issue is about the space race. jason: so much going on. tiny rockets and drug therapy at the international space station. carroll: we are talking about space aged balloon rides.

jason: i'm jason kelly. we are joining you in new york. week's issue is about the space race. jason: so much going on. tiny rockets and drug therapy at the international space station. it goes back to money.

jason: and i am jason kelly. carol: coming up in this week's issue, a future with robot taxies. u to a pioneering driverless startup. jason: we also look at best buy is surviving and may be driving --

jason: and i am jason kelly. duce you to a pioneering driverless startup. jason: and how best buy is surviving and may be driving in an amazon world. carol: first, we start with a cover story. we will take a look at pres

that was our exclusive interview with alice krueger with jason kelly.that you want to catch our show exclusively focused on commodities. tune in to commodities at a 1:00 p.m. eastern every thursday. this is bloomberg. ♪ scarlet: this is bloomberg markets. lisa: time for the stock of the hour with mf -- >> we're looking at the , techlogy sector and etf 3sing about 1.4%, now up to -- .3%. we can see the same things happening here, earlier in the day, the nasdaq 100 hit an intraday high, and has -- it has pulled back on that and has now pulled back which has actually fallen. we are seeing a broad-based selloff in tech today with consumer names down and global payments almost falling. also looking at semi conductors. they report earnings after the bell tomorrow. they are expected to have some concern about the third-quarter forecast, given what we have seen in cryptocurrencies. in the red games take down almost two percentage points. we can look at the winners as we switch of the board. there are fewer of them then earlier in the session. all of these are l

courtney: i am jason kidd -- jason: i am jason kelly.the continent will be like without angela merkel. and we go digital. we look at something happening all around the world, cash

jason: i am jason kelly. carol: a conspiracy to put a president on trial. n what the continent will be like without angela merkel. jason: and we go digital. we look at something happening all around the world, cash getting stolen using the internet. carol: ed robinson has more.

jason: and i'm jason kelly. here at bloomberg headquarters in new york. eek's issue, a question. can the republican party survive a trade war? jason: we also look at the complicated relationship, to say the least, between vladimir putin and donald trump ahead of the big summit next week. carol: but we begin with our global cover story about tesla. jason: elon musk has made a lot of promises to investors and customers. can he live up to them? carol: building

global private the fund three years after $18 billion from investors for its last -- a spring in jason kellyn all things are evident at it. about theit say business cycle and the credit cycle? >> there seems to be a still hearty appetite for private equity and alternative vast. inckstone had the record 2007, that was just last year by apollo. 24.7 billion, we will see if blackstone tries to get more than that. is it the environment such that they can hit the number? is they can. one of the speculations is if they wait too long, a third of the current fund, they may be trying to seize a moment where they are still enthusiast rick and may not do so in a year or two. >> where have they deployed the money? >> it is a global fund. one of the interesting things timing wise is they had changed near the top, the real estate guru became the president. very much in the ceo chair. firm.s a global estate whereal john has spent a lot of his time. there are still apparently a lot of deals to be done. >> i guess i'm asking, you said -- what is your pitch look like to new investors if you haven't even found

. >> i'm jason kelly. >> we're 30 minutes from the close of trading and stocks are mixed.he s&p 500 falling just before the 2800 mark. >> at the question is, "what did you miss? miss?"t'd you call theal counsel pressure probe a disaster. the investors president david solomon has the next ceo as early as tomorrow. and bench watching by the numbers, investors will be watching netflix's domestic and international subscriber growth when a report earnings after the bell. plaques what -- >> what'd you miss? the concerns of the stickiest political traps that we will try to avoid for lawmakers tomorrow and wednesday. here to help us is the outlook in an area of rising trade tensions is joe davis, global chief economist at vanguard. thank you for being with us. let's start with trade tensions and some of the politically fraught questions that chair powell is down to get starting tomorrow. is it how he responds? what kind of questions do you expect he will get? joe: it is a tough balancing act. you want to reaffirm if you're the federal reserve, confidence in the federal reserve. th

jason kelly is joining us.nts as we start to turn over as a report from president trump he would not think about tariffs on $500 billion worth of chinese goods. he talked about the fed and not liking them raising rates. the spread weaker, 24 basis points. has nownger story paused, helping crude up by .1%. ge offering investors relief after earnings beat estimates. strong demand for aviation and health care equipment help to boost results. joining us now is scott davis, melius research chairman and ceo. ing of $27.t why do you have a buy? >> we think the stock is discounting pretty much every piece of bad news you could throw at it. down. come the report was fine. it was not inspiring when you compared to honeywell, honeywell was fantastic. it is a $13 stock. they did not need to put up much to give it a lift. i think it is going to be fine and flannery is making progress. it feels like mediocre seems pretty good for investors in ge now. what is your sense of the state of the turnaround at this point, which flan

david: joining us now, jason kelly.tart with blackstone. >> you knew we had to talk about this. david: how much money is sitting out there right now? >> it's incredible. there's roughly $1 trillion that needs to be put to work. blackstone is only a third of the way through their last fund. there's a sense that they are in a bit of a hurry to take advantage of the fact that people are still willing to give money right now at this point in the cycle. they will have to put a lot of money to work. david: the valuations may be high. if there's a downturn come in will be hard to get the money. -- if there's a downturn, it will be hard to get the money. >> exactly. alix: there's even more money you can play with. >> exactly. theysee this $1 trillion, see blackstone going for $20 billion plus again. david: they used to be number four. they are now number nine. do they see the regulators? we are going to put a lot of money out in high-yield, risky moves. >> their point. -- fairpoint. they need to get in on those deals even if it

kelly,oining us is jason good to see you. i don't understand this banker biotech thing.o biotech in hong kong, why? jason: it's owing to a change in the rules on hong kong stock exchange which is more liberal allowing him profitable companies to go public. there's a lot more opportunities to get in on the ground floor and to use your expertise as a banker to take a biotech company public and if you do it all right, make a lot of money. the unfortunate parallel here as you might appreciate is the.com dot come boom. there's a roster of people jumping from big-name banks to biotech stocks. you're not going to get the huge payouts you would have 10 years ago so let's go find it somewhere else. great point. the ridges are not what they used to be in investment banking, you still see people going to private equity, maybe a little less so to hedge funds, but there often is this lower from wall street to getting into a company and saying that i be the cfo? you think about anthony noto who went over to twitter and now is doing his own job. david: it's better to be an owner than a