vonnie: jeff mccracken, thank you. great interviews there.ing up, we speak with the ceo of twitch. will the website become a streaming rival to netflix? this is bloomberg. ♪ ♪ vonnie: welcome back to "bloomberg markets." here are today's big movers. gold is trying to rebound after the fed meeting has traders on edge. remains a situation little unsettled in brazil. 1.1% therefore sugar prices. crude oil tumbling. perhaps a volatile couple of days of for crude oil as inventory declines. we will be speaking about that in a moment. 43 .58 at the close. of course, it may only be temporary. inside a bloomberg. here's a look at the correlation. oil and isis, type it into your chart library. 3520. the natural gas index, it had been on the rise, turning over a little bit now. david? david: we are joined now by carolyn, who created that chart for us. two weeks of inventory declines, what's going on here? carolyn: the market is focused on where it should be. distillates and gasoline inventories, both of which were up. we are at the end of the driving se

matt: thank you, jeff mccracken. and jeff rosen.n hour new york city mayor bill de blasio will hold a news conference on the weekend bomb explosions in manhattan and new jersey. we will have live coverage and you can follow it on your bloomberg. this is bloomberg. ♪ vonnie: you're watching bloomberg. i'm vonnie quinn. mark: i'm mark barton. london mayor says the city is open for business post-brexit and he says keeping access to the single market will be crucial for london's future. vonnie: the european union is looking to collect back taxes from mcdonald's. it could be hit with a $500 million tax bill. myanmar'sy we look at transition to democracy. ♪ vonnie: the london mayor says negotiating access to the single market is crucial if london is to remain a financial hub. he sat down with tom keene yesterday. >> london is the powerhouse for the u.k. i think the government recognizes even if you were in favor of exit if you want to be on the right side of history is in your interest to get it right with the eu. it could lead to jobs le

jeff mccracken's executive editor of global deals joining us now.ing relatively flat in premarket. there are buyers saying this deal might not even close until the end of 2017. what does that say about the regulatory process around the steel? six playerso we had and now we will be down to four. there's a lot of fear. a lot of them suspect the deal is going to get locked. it is way too soon to know what the regulators are going to do but there is a lot of concern that no matter how many investors they come up with its unlikely to get through the threshold to get approved. alix: the other puzzlement was the price. looking for awere price as high as 135, 140. did the price surprise you? >> no. was 122, 125, 1 2750. i figured it would be 130. 135 140 always seemed time. it's a premium to the unaffected price. that's a pretty good premium for a seed company who is actually not doing all that well. when santa last year was trying to buy syngenta. have missed some of the earnings expectations that were out there. the other key number was the breakup fee. y

jeff mccracken joins us now, the ceo from both companies. jeff. jeff: thank you.ld like to welcome our listeners. the ceo and chairman of monsanto, congratulations. is going on in the farming space, the agricultural space, that is forcing these kinds of deals? your deals are huge. in the space on that is making these deals necessary? >> one thing that is most important to see is what is needed in addressing and never increasing demand for more outputs and more yields. only way that can be done is with better in innovative solutions that can be developed. we share an intuition we talked about that you happen working on that theyears, culmination of both companies what we bring to the table with chemistry and what monsanto brings to the table, yunnan x, greatlytics, would be a -- to help address this. ? trying to do more with less. basically. >> they have to do this in a more environmentally sustainable way and you can only address it with that are solutions that are not available today below we're working on tomorrow. >> i have had these conversations. in some ways

scarlet: that was hugh grant and warner baughman speaking with jeff mccracken.ars --driverless uber's driverless cars in pittsburgh, we will tell you all about it. ♪ scarlet: you are watching "bloomberg markets." driverless cars are hitting the road in pittsburgh. cooper is rolling out its first self driving cars to customers in the city. max chaffin has been following this story and he went to pittsburgh to get an early look. x: we are here in pittsburgh selfooper -- uber's driving car launch. there is a pinwheel thing on top , that is the lidar sensor that is mapping the road and telling the car where to go. there are dozens of these sensors, 20 cameras, seven lasers, radar. we have these lovely safety drivers joining us but the idea is to get people to understand what it is like without somebody behind the wheel. there in the uber, and i'm going to press this green button that says let's ride. there is a weird colorful psychedelic map that is showing all of the stuff going on around us. hoveringr is sort of with his hands over the wheel but not touching the w

matt: that was jeff mccracken earlier today with the head of m&a, john reese.hedge funds have suffered their biggest losses since the financial crisis and investors have pulled about $23 billion so far out this year. we speak about hedge fund outlook next. this is bloomberg. ♪ scarlet: this is bloomberg markets. im scarlet fu. time for a look at some of the biggest business stories in the news right now. too tall is considering selling gas fields in norway. l is considering selling gas fields in norway. they are offering smaller producing assets to potential buyers to sweeten the deal. silicon valley startup of terra is jumping into the race for the --ure of transportation otera is jumping into the race for the future of transportation with its own version of the bus.ric known hedgebest funds are having problems with capital. capital has fallen from $10 billion to $4 billion. and assets's stocks have been shrinking since 2011. this year, hedge funds have suffered their biggest withdrawals since the financial crisis. the biggest funds have been hurt the worst. f

jeff mccracken joins us now. intial offer in may and opt july. sinces has been going on may.50 per share. a german newspaper cannot with a story that said bayer had bumped up the offer to 130. bayer wanted to clarify they are at 127.50. i think the deal will happen regardless. this has been progressing pretty well over the last couple of months. they are allowing them to conduct due diligence and they are talking and getting access to the books and monsanto does not have any other options. it's not like someone else will show up to by them. doubt and dupont are working on their deal. -- dow and dupont are working on their deal. scarlet: why have the shares decline since the initial offer? >> people are concerned that a deal will happen and then regulators will block it. a lot of this is tied to whether ors u.s. regulators regulators at the department of justice or federal trade commission or eu regulators. they feel someone will block it. this is our function that gives you a snapshot of all the mergers and acquisitions activity. this shows a chart of the activity we have see

managing editor jeff mccracken.lobal banks, with a focus on the bank of japan. maturity transformation. you borrow short, land longer and they often profit from the steep yield curve. where theyor koroda, allow it to strengthen as thanks in japan rally? joining us is david kelly, chief global strategist at great to have you on the program. bank of japan comes into the market, normal operation, and they do not buy -- is there a story there? the support the banks in a significant way? onid: there is a lot going in global and central banks about the efficacy of negative interest rates in all their attempts to push on rates. i think they're beginning to recognize for a lot of people that yelling -- that they are suppressing the banking system and a lot of the programs we -- problems we have are getting banks to lend. it may be hard of a general pattern from extreme forms of negative interest rates and trying to help the economy. about it in a broader sense and how to get back to that. saw the: recently, we spread and th