the historic lng and gas pipelines that go through from russia to the region. venture capitalist justin caldbeck tries for a comeback after his harassment scandal. and business owners are tailoring programs based on a new type of job market. this is "bloomberg businessweek." ♪ ♪ julia: welcome back to "bloomberg businessweek." i am julia chatterley. you can listen to us on the radio on sirius xm channel 119, and also on 1130 am in new york, when a 6.1 in boston, 99.1 in washington, d.c., and am 960 in the bay area, and in london on dab mux 3, and in asia on the bloomberg radio plus app. in the technology section, venture capitalist justin caldbeck resigned in disgrace from binary capital after six women accused him of making unwanted sexual advances. now, he is working to end the so-called bro code in silicon valley. here is our reporter ellen hewitt. ellen: justin caldbeck is a venture capitalist who used to run binary capital, and he resigned in june after a story came out in the information that said he had six women, three of them named, and they came forwa

cnbc will speak with randall stephenson later today in new york >>> france's total is buying lng. deal is worth around 1$1.5 billion. it is set to make total the second largest player in the lng market with 10% of market share by 2020. the acquisition concludes engie's exit from gas and oil. this as the utility goes through a strategic restructuring. in a haven't interview, total's ceo said engie's makes up a part of the outlook >> we are among the top three companies. we believe the lng market will be more and more liquid because you have more production points and delivery points in the world. yes, we're looking to increase it's part of the strategy announce announced. >> hungarian oil and gas company m.o.l. group is going through a radical transformation including a move away from hydro cacarbon motor fuels. i'm joined by the cfo of mol great to have you back on the show let's talk about the oil markets. brent crude hovering around the 63 mark. last week, we were at 56 this is a huge jump from the summer levels, 40% for brent crude alone. do you think these prices are sustainab

they are also doing a lot of extra lng imports.is sending a tanker that is full of natural gas that can actually regasify the gas itself to beijing. companies are trying to open up lng import terminals in time for the winter to get here. rishaad: what is the effect on the lng market, very quickly? dan: it has been really strong for the lng market. the prices were down in the five dollar range this summer. they are now well above nine dollars. it's doubled in the last six months. there is a much tighter supply and demand balance out there because these chinese importers are bringing in so much extra. dan: it is the price to pay at the end of the day, i guess. what happens to the rest of this gas market as we move -- i suppose we have a situation where china is moving up the value energy chain. dan: yeah, it's as you said, the price you pay. do you want to pay a little bit more for energy or do you want citizens to breathe clean air? china has made the cut decision that right now it is more important to pay a little bit more for the

lng does not look as to say.tive because we will be able to deliver lng into asia were about $4.50 and into europe for about $3.50, which really makes the u.s. competitive with all commodities and natural gas around the world. alix: even with the supply from russia, new guinea, you can still compete with that because it is closer? meg: it is, but we have different components of a value chain, so the cost of supply itself producing the reserves, now the u.s. is really one of the lowest cost supply areas of the world. the cost of constructing the itselfl, the ecb contact , and the cost of financing and shipping. we are pursuing an integrated chain tried to get the lowest cost of those components. alix: you did not go to president trump's trip to asia, have you spoken with the administration? meg: we are in constant contact with the administration. thatnt them to understand driftwood is a new facility in louisiana, it will be important for a a lot of their goals about $25 billion of direct investment in manufacturin

rate so they may need this more than others in that regard let's talk saudi aramco arguably one of the lng on and are they going to be a little question there's a lot of unease this is and we're only getting one side at a ration you know they're blowing it up like a lookout great you know we're putting a resource now into the private sector because we need to and you pointed out dorothy the problems that they're having economically they need oil at one hundred dollars a barrel to break even and this prince just loves to throw out the buzzwords to make everything. like it's going to be great like vision twenty thirty five hundred billion dollars city and you know now i'm going to take out a prized possession and go public with it you know it's sort of nutty in a lot of regards i mean i understand why they're doing it it is only five five percent and when they do i.p.o.'s you know and you know president trump is urged to saudis to do it at the new york stock exchange rather than in london but when they do these things there's a lot of transparency required and i think some investors may they

around 10% of foreign requirement of lng. all those countries are relying on qatar, and qatar tried, we tried our best not to affect although supplies by those measures being enforced against us. and now we are accused that we have a strongly with iran. we have no strong relation with iran. we had communication and we have more communication because of the crisis since the blockading countries are blockading the skies, locating the skies from our planes. >> it seems like -- is counterproductive at least in terms of their objectives. is this correct? >> this is what we see, it is not only prescient as big we see most of the policies that admitted is counterproductive. >> yes, please. >> david with npr. do you see the u.s. of doing more to resolve this crisis? could it do more, and do you feel the u.s. has your back in this dispute? and also, what is the significance of the u.s. military presence in qatar for your sense of stability? how important do you see that as a guarantee for your country? >> regarding the u.s. role in th

looking at about two percent two point five percent of the original stock of african thing when doing lng food supplies are hurting the populations origen birds often can't find enough to eat in the ocean that can be deadly especially during the molten season when penguins must remain on land for twenty one days and able to hunt dots why the park ranger sometimes has to be intervene to save some of the birds. or condition the rest of motorway. basically is wet so it hasn't got the insulating properties fenderson pretty poor condition in a situation like this q one mcgeorge give the debilitated bird a forty five mill by a feeding tube. penguins play an important role in the oceans ecosystem numerous other ocean bird species depend on penguins for their survival. sea birds have this into relationship interconnectivity we find that the penguins are plunged diver co-opt and hunt in packs to actually bring the food to the surface and love the other sievers to feed. this dependence is very important between all seabirds if you lose the one you lose the others the stony point colony is accessibl

there's definitely a place for lng and also for. we make it resilient. thank you. >> mr. franken. >> senator lee. >> thank you madame chair. we begin today's hearing with a certain amount of knowledge. expert opinion testimony has identified a laundry list of concerns with management and operation. let me list a few. staff have been hired without regard to experience and expertise resulting in the failure of multiyear projects. we've seen widespread theft of power and billing failures. we've seen outdated infrastructure that has resulted in unacceptably high rate of force and sometimes prolonged outages. we have generation units that are outdated technologically, requiring the reliance on expensive fuel and we have procurement practices that have focused on a large number of small vendors with payments going out to over 14000 individual entities. corruption and mismanagement have been a problem and they've plagued the organizations for decades. if we don't start exercising meaningful oversight over other every dollar spent in contract signed we could be looking at decades

already three big problems when you address climate change a row jand rising water temperatures doing lng sea life more and more plastic in our oceans scientists are busy working on stopgap solutions but to really fix the problem will require international leadership and cooperation jessica baldwin al-jazeera hi england. all right time reza take a look at the top stories here of al-jazeera the u.s. has joined the un in calling for stability and eleven and warning regional powers against the use using the country for proxy conflicts prime minister saad hariri resigned while samaria last saturday claiming interference from a wrong and its lebanese ally hezbollah. the kremlin and u.s. state department have confirmed u.s. and russian president have agreed to move forward to end the fighting in syria the two leaders met on the sidelines of the apec summit in vietnam where they confirmed their commitment to maintaining syria's sovereignty and reaffirmed their support of the un's efforts to end the conflict eleven asia pacific countries have reached a deal for the basis of a free trade pact with

that's already three big problems when you address climate change a rose rising water temperatures when lng sea life more and more plastic in our oceans. scientists are busy working on stopgap solutions but to really fix the problem will require international leadership and cooperation jessica baldwin al-jazeera high england. terrorism take a look at the top stories here it out to syria the u.s. has joined the u.n. in calling for stability in lebanon after the resignation of prime minister saad hariri he announced he was stepping down also in riyadh last saturday blaming interference from iran and its lebanese ally hezbollah eleven pacific rim countries have reached a deal for the basis of a free trade pact without the united states they struck a deal to revive the trans-pacific partnership that president trump withdrew support from earlier this year the deal was reached on the sidelines of the apec summit in vietnam. grimmett has been reached in four months but it comes to specific aspects there were cases where intense arguments took place but we all shared this goal of achieving the agre

already three big problems when you address climate change a rose sharon rising water temperatures doing lng sea life more and more plastic in our oceans scientists are busy working on stopgap solutions but to really fix the problem will require international leadership and co-operation jessica baldwin al-jazeera high england. now the world's biggest online shopping spree dubbed singles day is just coming to a close in china the title takings are still being tallied by economist john ali baba's says sales topped want to have billion dollars in just the first three minutes of the shopping bonanza opening so fast and has more. gone vini and cheap and some say addictive online sales are going through the roof in china and electric tools flosser got look ching's i discount twenty percent you really visits a store these days laptop fitness equipment cameras all bought with a few clicks and many other items he admits he doesn't even need. sometimes i do overconsume online especially when there are also a lot of times are by them without thinking too much and never touch them again after i open the

already three big problems when you address climate change a row jand rising water temperatures doing lng sea life more and more plastic in our oceans scientists are busy working on stopgap solutions but to really fix the problem will require international leadership and cooperation jessica baldwin al-jazeera high england. let's have a look at the top stories here at al-jazeera the u.s. has joined the un in calling for stability in lebanon warning regional powers against using the country for proxy conflicts prime minister saad hariri resigned suddenly whilst in riyadh last saturday claiming interference from iran and its lebanese ally has. the u.s. and russian presidents if you to read joint statement on how to end the fighting in syria the pair met at the apec summit in vietnam where they confirmed their commitment to maintaining syria's sovereignty and reaffirmed their support of the un's attempts to end the conflict iraqi forces of launched an offensive to capture one of the last remaining areas under control in the country to iraqi infantry divisions and sunni tribal forces to carry

and the parameter indicators of the success is that qatar did not miss a single shipment, be it the lng products or the crude oil >> thank you very much nice to see you again. so we heard from qatar saying regional rivalries can be left at the door. we heard from iran who don't seem to have any concerns about politics apart from as you mentioned, for u.s. companies. i'm looking around the room seeing who else we want to be speaking to at this moment of course the saudi arabian president of opec is soon to change over. let's have a quick word with the algerian oil minister. how are you? in terms of where algeria is at the moment, where do we go next in terms of the deal are you happy for a nine-month extension without any caveats in [ speaking foreign language ]. >> translator: i'm happy most american homeowners would be shocked if they knew just how rich they were. the average american home value has increased $40,000 over the last 5 years. but many don't know you can access that money without refinancing or selling your home. with a home equity loan, you can pull cash out of your house

the former head of the national lngs is saying that is dangerous. >> there is important work to be done. i agree. we need to find a way to improve relations between moscow and washington. but i think that by not confronting the issue directly, and not acknowledging to putin that we know that you're responsible for, this i think he is giving putin a pass. i think it demonstrates to mr. putin that donald trump can be played by foreign leaders who are going to appeal to his ego and to try to play upon his insecurities, which is very, very worrisome from a national security standpoint. >> the russians are going to pursue like interests. with us, it's slim and none. and i think it's very naive, and in fact perilous to this country to make an assumption that russia is going to behave with the best interests of the world or certainly the united states in mind. they're not. >> we'll have more from them in our next half hour. clapper, brennan talking about being called political hacks by the president. >>> coming up, after the break, lebanon's saad al hariri breaks his silence from saudi arabia.

lng and natural gas. the price has gotten so low it is curtailing coal.the markets take care of this on their own? lloyd: in a lot of ways the markets are taking care of it. the move towards natural gas, a fossil fuel. it may not be 100% of injury of environmentalists who want to move totally away from fossil fuels, a natural gas is much less environment -- damaging to the environment than oil is. it is moving up by good fortune. we would not have known this necessarily a generation ago, that natural gas is in so much abundance it is one of the reasons why north america is going to be -- is effectively energy-efficient. we have a lot of it and it is cheap to get out of the ground. technology is making it so. people invested in that technology made a lot of money and are doing well for themselves and doing social good as it turns out. that is being repeated now. that is not to say other avenues and other aspects don't need a bit of a subsidy and a bit of a push to get them going so they can reach a scale where the science can be proven and be sustainable i

already three big problems when you address climate change a row shown rising water temperatures doing lng sea life more and more plastic in our oceans scientists are busy working on stopgap solutions but to really fix the problem will require international leadership and cooperation jessica baldwin al-jazeera high england and scientists at the german air space center working on what's been described as the world's largest artificial sun in a bid to find alternative climate friendly fuels the giant honeycomb arrangement of spot light simulates natural sunlight by focusing the energy in such a small area it can be used to power special reactors which can help produce hydrogen fuel heat can be stored much cheaper than electricity by a factor of ten or more and the stored is available for the tarm after sunset and the combination of photo. concentrating solar power is the solution for many countries in the global songbook. now the us republican senate candidate roy moore has denied allegations of sexual misconduct in his first on camera parents since the allegations were made more a former ju

already three big problems when you address climate change a row sharon rising water temperatures doing lng sea life more and more plastic in our oceans scientists are busy working on stopgap solutions but to really fix the problem will require international leadership and cooperation jessica baldwin al-jazeera high england and scientists the german aerospace center are working on what spin described as the world's largest artificial sum and it to find alternative climate friendly fuels the giant honeycomb arrangement of spotlights stimulates natural sunlight by focusing the energy and such a small area it can be used to power special reactors which can help produce hydrogen for fuel iraqi forces say they've captured one of the last remaining areas under eisel control in the country to iraqi infantry divisions and sunni tribal forces are carrying out the operation in a province it's believed eisel fighters are holding ten thousand civilians hostage in the town of imran khan has the latest from the iraqi capital baghdad. the operation began early on saturday morning as iraqi forces went in t

i realize the only one we've left out is the question of us lng versus russian gas area we will have to leave that for next time. megan, thank you for writing this terrific book and thank you on behalf of everybody today for a discussion. >>. >>. [inaudible conversation] did you know that you can watch any program you've seen on tv on booktv.org? you just heard a program about the politics of energy use in america and if this is a topic that interests you, visit our website, energy and booked into the search bar to watch authors talk on coal, fracking, hyper electric and other energy related topics. >>. >> book tv is on twitter and facebook and we want tohear from you. we us , twitter.com, book tv or post a comment on her facebook page, facebook.com, last book tv's. >> our next speaker is the third ceo in microsoft overseeing a renaissance of the company culture and strategy in the 3 and a half years since he became ceo. his new book it refreshes the candidate of his life as an immigrant, a father, and a corporate leader. his efforts to reinvigorate

santos has stakes in lng receive and expects to more. santos was a victim of the oil route.eight any decision on selling its pc business after the nikkei news said lenovo expressed interest and it was reported toshiba was in talks. to widen itsd full-year losses as sales slump and the company not seeking extra money from the buyers of its chip arm to bolster finances. let's look at singapore's property market set to break out of its slump, and home prices in did a four-year slide. let's discuss this with our next guest who runs the largest property website in southeast asia, property guru. thank you for having us. there has been pent-up demand. in august, we saw a record numbers of singaporeans log on to our platform, 5.4 million. what is happening is there has been end up demand. demand has been there, but with the price is beginning to peak, we are seeing them reenter the market. ,ishaad: what was the trigger and is it heard mentality? white wasn't it a buy? >> what has happened is that in singapore, they are happening at record prices. the belief is these properties will

that's already three big problems when you address climate change a rose rising water temperatures when lng sea life more and more plastic in our oceans. scientists are busy working on stopgap solutions but to really fix the problem will require international leadership and cooperation jessica baldwin i'll just say hi england. but it's time for sports now peter elizabeth thank you so much two thousand and two fifo world cup quarter final seven go on their way to russia twenty eighteen after defeating south africa to know in kwame on friday this will be the first time since two thousand and two that the senegalese will play at a world cup nicolas hawke reports from that night go send a go go just one of many happy for the country celebrated into the night as the team known as the lions qualify for the world cup for the first time in fifteen years we're going to. be using that when you know it's not just a victory for senegal but for africans we will beat the european teams and russia mark my words we will beat them for ninety minutes senegal was at a standstill the streets of the capital des

have you identified investors who are willing to make a huge investment in an lng terminal? >> a number of investors are bullish on long-term prospects and we in the board as revitalization coordinator, a lot of proposals, a lot of questions how people can bring innovative capital solutions to benefit the reconstruction of the grid and the people of puerto rico. >> i urge you to keep pushing in that direction because i don't think nuclear or coal is a solution, renewables are great to provide that much electricity in that short a time is unrealistic so i welcome the discussion about lng. another issue in -- enlighten us, i want to commend one of our representatives today, representative velasquez for speaking out on this issue. i would like to find a solution to the jones act but does that affect imports? >> we are looking at a fuel mix that provides predictable cost curve in the out years for that fuel and we believe a proper gas mix offers that opportunity, our goal is to get the price below a certain point to drive increased demand as an engine of economic growth. >> with

does that affect lng imports? mr. zamot: we're looking at a fuel mix that really provides a predictable cost curve in the out years for that fuel and we believe that a proper gas mix in conjunction with renewables offers that opportunity for puerto rico. our goal is to get that price at the meter below a certain point. that is going to act as an engine of growth. >> would the jones act come into play for liquefied natural gas imports? it can be a real restriction. mr. zamot: we believe that any measures that congress takes to ensure the cost of shipping fuels to puerto rico is reduced is a positive step towards rebuilding the economy. >> i would be willing to look at that and i think we should look at that. maybe just a very narrow exception to the jones act, possibly. just as we need to look at environmental regulation waivers. everyone is not going to be happy, but if we want to see puerto rico succeed and thrive, i think those are the kinds of hard decisions we have to be willing to make. the last thing i want to a

pridum addressi south koanlaaks, deliveri a blt warni to kim jong- wng a b he atck as a deranged tyrant lng a cult. a >> i say to the north is dotyrat no underesma us and do not tr us. the weapons you're acquiring are no making you safer.d thre putti your regime in g deetru also ca o china hand russia by na urging them to join forces wi the u.s. to isolate the br north kore regime. by >> t nations at choose to stl able it. o ther weight of this crisis is os yo consciee. >>ep less than 24 hours than a moderang his fiery rhorli on north kor to a deal, the president ag encouragi the rogue remeo take an alterne take an co. >l offer a path to a mh better future. . >>rt. . trump comparing c hiow succe to his own. ss t >>io korea and since my ince ec exactly one year ago go toy i celebrate wityou. >>tev praising southh ko goe with a plug for o of his properts. a >> the women's u.s. open was he this year at trump national t go clu in bed ministe new jeey it just happened to be by a great korean golfer. >pobehe speech, t prese o surpse visit to the dmz tryin thg divides north and south ko beb weathe

absolutely about tweetable deliverables if you look at the alaskan pipeline which would be a deal to bring lng from alaska into china, this is something they will almost certainly make a big deal out of. you it tell the voters about, but in rae il, as patrick said, this deal has been inle works for a report tine. so it will be boor some kind of cot messic takeaway. >> patrick, can you really make a deal with the chinese corporation? because chinese corporations are, for all intents and purposes, they won't like me saying this -- arms of the government the communist party is always a partner. are those deals you can, a, make, and b, believe that will be adhered to? >> in many cases there are china as commercial as well as political goals, but i agree, by the way, with jillian, that tweetable deliverables is what matters, down the road what we really need from china is the structure of the relationship. that includes staying on enterprise perform is one of the things that's gone backwards, instead of what they said they wanted to do, chet open up stayed-owned enterprises to more competition, mor

ye yes, there's definitely a place for lng for natural gas, but also for solar -- we make resilient and for wind. thank you. >> thank you, senator franken. senator lee. >> thank you, madam chair. thanks to each of you for being here today for this important discussion. we begin today's hearing with a certain amount of knowledge. we know a lot baut what's going on with prepa. for example expert opinion testimony has identified a laundry list of concerns with the it management and operation. let me yus list a few. staff have been hired without regard to experience and expertise resulting the failure of multif had year projects. we've seen widespread theft of power and billing failures. we've seen a lot of outdated infrastructure that as resulted in an abnormally unacceptably high rate of force and sometimes prolonged outages. we have generation units that are technically outdated. requiring the reliance on really expensive fuel. and we've got procurement practices that have focussed on a large number of small vendors with payments going out to over 14,000 individualentities. so mismanagem

mortgage originator and a high cost mortgage, to amend the secure and fair enforcement for mortgage lng act of 2008. to modify the definition of a loan originator and for other purposes. the speaker pro tempore: the question is on ordering the previous question. members will record their votes by electronic device. this is a five-minute vote. [captioning made possible by the national captioning institute, inc., in cooperation with the united states house of representatives. any use of the closed-captioned coverage of the house proceedings for political or commercial purposes is expressly prohibited by the u.s. house of representatives.] the speaker pro tempore: on this vote the yeas are 229. the nays are 189. the previous question is ordered. the question is on adoption of the resolution. all those in favor say aye. all those opposed, no. ms. slaughter: i request the yeas and nays. the speaker pro tempore: the ayes have it. the yeas and nays are requested. those favoring a vote by the yeas and nays will rise. a sufficient number having arisen, the yeas and nays are ordered. members will

. >>> lng back a new development, at&t pleading its side of the case brought by the doj, trying to blockarner in a joint court filing they say they operate in highly competitive markets that will remain competitive after the deal and cite the rapidly growing digital competitors like netflix, apple, google and facebook at&t's general counsel saying we have offered the department of justice a variety of solutions that are consistent with decades of precedent and vertical mergers and strongly believe any divest tour of assets not required under the law and repeated at&t never offered to divest control of cnn. i'll sit down with randall stephenson and we'll bring you his comments today. >> jim cramer joins us now do a tops up or bottoms down, jim? another big gain yesterday in the market but then we got things like chipotle today and other things happening what got your interest most? >> first your news set because of last night's celebration and congratulations certainly worth noting -- >> thanks for coming, jim. >> no, it's a really big deal. i tried to put pictures up it was hard to grasp