let's check in on our first word news. -- marissa mayer always under pressure. vonnie: republican rivals say they will support donald trump if he wins the nomination. a group of anti-trump republicans want to make sure that is not necessary. they will fight it out at the convention -- mitt romney will speak with bloomberg politics's mark halperin coming up at 1:30 p.m. eastern time. in germany come a doctor has

of activist shareholders says they will not back down from a fight with the company until ceo marissa mayer is out. leading the charge is a hedge fund from new york is starboard value lp. they are ready to put up a long expensive fight if mayer and a majority of the board are not fired. shareholders are frustrated with her since she took over in 2012. she first made headlines by not allowing employees to work remotely and after yahoo bought tumblr for $1.1 billion, tumblr lost a quarter of its value. after spending millions to launch yahoo tv the company announced monday they will shut it down. a dozen key executives have left and the stock price fell by 30% last year. mayer told charlie rose she is still optimistic. >> you know, it's about our users and it's about our employees and, you know, what's happening with all of them.

of activist shareholders says they will not back down from a fight with the company until ceo marissa mayer is out. leading the charge is a hedge fund from new york is starboard value lp. they are demanding mayer and a majority of the board of directors be fired or risk a lengthy expensive proxy fight. investors are impatient with mayer. she made headlines by requiring all employees to come to work instead of work from home and yahoo went on a buying spree pushing to acquire tumblr for $1.1 billion and it lost a quarter of its value. the company announced monday they will be shutting down their video portal and writing down $42 million in expenses in the 3rd quarter for producing three video series. much of the profits have been kept aflowed by yahoo's steak in alibaba the chinese e- commerce company. a dozen key executives have since left and the stock price fell by more than 20% in 2015 although it has recovered some value in the past few weeks. charlie rose sat down with mayer to say her acquisition didn't work. >> i would say that we -- i actually think it worked. i think it was a matte

emily: we actually spoke with a former board member on the board before marissa mayer came on as ceo,nd this person said they never thought marissa was the right person for the job, but they were quite happy to leave the board because not many people wanted to stay on. i wonder how board members are feeling now. eric, how do you expect this to play out? who wins? eric: i think there is a lot of bad blood between the previous .oard and starboard i don't think there was much negotiation between the sides. think they that they can orchestrate a sale in next couple of months before this goes to a shareholder vote. therefore, all of this proxy talk becomes a moot point. if they end up selling the company at a large price. i think that is what they think they can do. as of a couple of weeks ago, i was hearing from potential bettors at that nothing was happening despite the fact that they form this committee. there was really nothing happening. so we'll see how things play out in whether yahoo! perhaps overestimates its own abilities to get this thing done. do have some supporting that they

emily: eric, what is your reaction to that remark by marissa mayer? eric: i have heard her talk so much over these last years and she has accomplished so little. i think she is a person who chooses her words very carefully. she is very concerned about what will happen post-yahoo! for her, and is trying to manage her reputation, i think. when she meets with charlie rose does an hour with him -- obviously, it is complicated. it was complicated well before she showed up on the team. and, i think she was a bad hire from the beginning. she was in over her head, and i think they will be better served with a different ceo with an appropriate background for the job. emily: neil, starboard has a this once before with the company that owns all of garden. they wiped out the entire board, replaced it with a new plate of new directors. what is the likelihood they can pull this off? neil: it is hard to tell. they tried to change the board at aol, 50-50 at this point. there's so much and negative stuff around yahoo! however, a negative sense of investors, they may h

and marissa mayer met with star board this week.e do not know what happened at you meeting, but how do expect this to play out given the latest twist with these new board members? >> the next couple of weeks for yahoo! will be interesting. in two weeks and there is a deadline for shareholders including this activist, starboard to nominate their candidates and i saw yesterday's announcement about these two new board members as a way for yahoo! to front run starboard's on potential nominations. i do not know what the starboard thinks -- folks thought of those two new director candidates this week. i guess we will find out. that vote in june most likely, the annual meeting in june will be a referendum if the activist shareholders have it on candidates up for election and they get on the board. that means shareholders have waited we do not want to for a turnaround. we want this company to sell now. emily: i am sure there will be some twists and turns but between now and then. thank you. watching. are intel is planning to sell part of it

ceo marissa mayer facing another difficult rattle. -- battle.r to shareholders saying quote, we cannot envision a scenario where the shareholders of yahoo! would entrust the current management team and board with executing a stand-alone turnaround plan given the years of failed attempts under the current leadership. what happens next? for that we bring in "bloomberg west" anchor emily chang. how much of a surprise is this here, the suggestion the entire board should be replaced? mily: my sources have been waiting for this. star board has not been shy about their disappointment with the way the management team at yahoo! has been running things. they have been in meetings. they have been trying to negotiate some sort of agreement. they have not been able to come to agreement. now starboard is setting the stage for war, asking for the entire board to be wiped out, saying this sort of change is desperately needed. yahoo! and the current board can't be trusted with the big decision about what to do with the company. yahoo! has said they will review a

has been mismanaged under marissa mayer's who has been trying to turn around the company.lth fund are considering an investment in yum! brands chinese business. valuing it at about 10 billion u.s. dollars. yum owns kfc, pizza hut and taco bell. orders for durable goods fell in february. bookings for goods and materials meant to last year's dropped 2.8%. sluggish economies overseas led international customers to cut back on orders. that is your bloomberg business flash. mark: let's talk easter. what is your best value for your holiday brunch? julie is breaking it down with the turn of the hour. julie: ham is a better price now than his bacon. mcdonald's all-day breakfast is one example. this is a chart matt miller use earlier, so i will give him credit for the title. we have seen him prices go down relative to bacon as we have seen prices come down a bit, we got some interesting stats with easter spending they are predicting will be up 5.5% from last year and spending per shopper will rise by six dollars as well. it is number five in terms of holiday spending behind , mothe

, so marissa mayer, as you know, she has attracted a huge investor concern.you the share price. we look at it and we think as a ceo, if i were in her shoes, what would i do? tom: nice chart. francine: you like my chart? i work so hard for you, tom. she is supposed to do what is best for her shareholders, but these are tough times. you have to question where yahoo! fits in this kind of proxy game. tom: i think it is fluid, to say the least, and that goes across much of technology as well. peter hooper at deutsche bank, quickly, the arch issues of politicians that they address is that these companies do not employ a lot of people, do that? this is not ford, gm, ge, is it? future of but the technological advancement is centered a lot in these small companies. productivity growth has been dismal in the u.s. for the last five years. the hope is that spending on r&d , spearheaded by a number of these kinds of companies, is going to give us the wherewithal to begin to pull people out of that. tom: are we missing the accountability that ms. meyer and others have on t

let's check in on our first word news. -- marissa mayer always under pressure.epublican rivals say they will support donald trump if he wins the nomination. a group of anti-trump republicans want to make sure that is not necessary. they will fight it out at the convention -- mitt romney will speak with bloomberg politics's mark halperin coming up at 1:30 p.m. eastern time. in germany come a doctor has determined that a 95-year-old former asthmatic is not fit to stand trial. he faces 3700 counts of accessory to murder. he will be examined by other experts and could still go on trial. saida's new prime minister it would be nice if americans paid more attention to the rest of the world. he made a comment on 60 minutes. he goes to washington next week to meet with president obama. the european union offering some hope to greece that it will not forme a one term haven immigrants. checks have kept migrants out of greece -- the eu wants greece to do a better job of registering migrants. day.l news 24 hours a i'm courtney donohoe. mark: let's stay with the refugee crisi

we'll get to marissa mayer. the claim numbers have been low.r the economy is challenged. we had a good month last month. it fell back this month. and it's a very volatile series but i don't think i'm seeing any surge in business spending and a challenge. i want to get to something else. the government tomorrow is going to report the third revision to fourth quarter gdp. we did an in depth analysis of the government's reports on gross domestic product and they show large and persistent errors that give everyone from investors to business executives to policymakers pause in relying on this early data for key decisions. we went back to 1990. we found average error rate of 1.3 puerto rico centsage points plus or minus in those initial three gdp reports compared to where it will affect. that's compared to where it's revised to years later with more complete data. initial report let's say it's 2%, on average will later be revised to 3.3 or 0.7. the research doesn't show any systematic overstatement or understatement of growth. we also found about 30%

about what has happened with melissa mark -- marissa mayer. has anyone been on tumbler lately?e facebook went on instagram. it was like a terrible decision to buy tumbler at the same time. the other thing they have done, the financial performance as pointed out in the letter, has in dismal. fortunes.aying maybe $100 million for less than a year working at the company. now patrolling the streets of manhattan on yahoo!'s dime. the otherand look at thing. the letter from star board. it reaches conversation hiring practices, the company has maybe even gotten worse during marissa mayer's tenure. warren buffett always said, to take a visit with a poor reputation it is the of the business that survives. we see that happening with yahoo!. i think the chances are extraordinarily high. you have an unhappy base, the people involved in the company -- look at the pay package been paid to meyer, look at executives, and i think the desire for change is great. star board offering a plan because yahoo! isn't. jonathan: they went into the business and tried to turn around. >> i think yahoo!'s's

guest: i'm not in marissa mayer's shoes. i can't see the leading indicators. why she was reluctant to sell the company because she may be excited in the plan they have to turn things around and create value. there's a whole list of variables. you really have to put yourself in her shoes to understand what is going on. emily: what you think is the best and the worst case scenario for yahoo!? go to someones to who realizes that it is still used by hundreds of millions of people on a daily basis. if it is sold, they need to realize that yahoo! can create the world. i think that is how she is assessing her options, maximizing value. vonnie: and that was linkedin ceo jeff weiner speaking with emily chang on "studio 1.0." mark? is said to be making a bid for dupont, the chemical company that agreed to a merger with dow chemical in december. here to help us understand all of the players, jeffrey mccracken. why is basf exploring this a bit? little are being left a bit behind. they were interested in syngenta and they were interested in dow chemical before they started

i feel sorry for marissa mayer but i feel sorry for you. bill a little more homework needs to be done here if you'll forgive me. you have total shareholder return up almost 150% since she has been there. she has strong revenue streams coming in from her business and her mobile business video stuff that wasn't there before. she has monthly active users. >> crowd over alibaba and if you look over alibab itself there's issues that makes alibaba have uncertainties. and there's tremendous unlock underlying value here and this board has done a great job with the long-term plans and short-term plans. here you have the improving performances and they have cut head count further on the payroll. it's 42%. a half a billion dollars and that's pretty noteworthy. certainly most noteworthy than any other company we talk about but it takes awhile to fix this but this is a big company to move around and also it's complex space that's moving as fluid and who do they have on the board? you say it's a deep board? i don't see any digital expertise. digital medi

marissa mayer. >> the big thing i'm really focused on is our end-users in terms of how do we make sure that we provide them with the best possible service, the best possible mail, the best possible news. nd there's also the shareholders that we want to generate the most possible value for. and there is a lot of great opportunities in this asset base to really unlock a lot more value. >> rose: marissa mayer for the hour next. >> funding for charlie rose is provided by the following: >> and by bloomberg, a provider of multimedia news and information services worldwide. captioning sponsored by rose communications >> from our studios in new york city, this is charlie rose. >> rose: marissa mayer is here, c.e.o. and president of yahoo slm since 20126789 prior she was at google where she was one of the first 20 ploas. on taking the challenge to run yahoo! she inherited a legender iconic company in internet history. people want the company to succeed and they want her to succeed. she does not do many interviews and we're pleased to have her here to talk about the future and the past. we begin

ty, this is "charlie rose marissa mayer is here from yahoo!.- people want the company to succeed and they want her to succeed. she does not do many interviews, but we are pleased to have her here to talk about the future and the past. owns 40% of, yahoo! the chinese company, alibaba. iny sold 50% of that stake 2012, they still own a part of alibaba said to be valued at $24 billion. there was an idea of a spin off, but the board decided a reverse of the spinoff, operating businesses by committees selected by the board. she has announced a plan to return iconic company to greatness and that is what we will talk about. i am pleased to have her. welcome. marissa: thank you for having me. charlie: good to have you here. --l me how you see you today see yahoo! today and what you want to do to return this iconic company to greatness? what is the plan? marissa: this was the original internet icon and a huge part of people's daily lives, more than half of the viewers will view a yahoo! product is sometime today. and it is an amazing opportunity to say,

the shareholder is the star board value that group is the one that wanted yahoo to sell ceo marissa mayer. experts say adding the directors is a clear sign the sunnyvale company is ready to take back control. the shares for the company slipped slightly after the investment. >>> the cal bears are set it to the semifinals. they faced a tough challenge against oregon state last night. they fell behind three times in the final seven minutes. the oakland native ivan rob that the bears down the stretch ending with 21 points and 15 rebounds. cal won that game and they face utah tonight. the bears need to win two more games. preparing law enforcement officers for the unexpected. coming up next and the exclusive look at santa clara county's use of force training. >>> we are headed to the northbay right now xfinity it soaked in the rain. >>> flooded roads and downed trees and rescue operations all across the their area. what you need to know about the latest storm moving in. good morning and welcome back to mornings on 2 it is friday, march 11 i am alex savidge. brain and pam are off today. we have

marissa mayer speaks out exclusively to charlie rose on her future with the company.es bottomed out? iea says the oil prices may have found their lowest point as high-cost production comes off-line. ♪ david: welcome to the second hour of "bloomberg ." i'm david weston was stephanie ruhle and jonathan ferro. stephanie: we're going to talk valeant, which is up. mike peterson, the on-again off-again ceo, says the worst is over. we will dig into that. jonathan: the markets have an ecb package to digest and i do not think the yuan will have a huge impact on sentiment. really interesting. to bring down the stores, matt winkler, looking forward to that conversation. let's crossover to remy for the first word news. remy: donald trump and his rivals went low-key at the latest debate c. >> we are all in this together. we will find solutions. and so far, i cannot believe how civil it has been up here. is expected to get a new endorsement from former candidate, ben carson. looking to next week's primaries, trump is favored in florida and ohio. aancellor angela merkel faces bi

charlie: marissa mayer is here from yahoo!.he inherited a legendary, iconic company in internet history. people want the company to succeed and they want her to succeed. she does not do many interviews, but we are pleased to have her here to talk about the future and the past. as many know, yahoo! owns 40% of the chinese company, alibaba. they sold 50% of that stake in 2012. yahoo! still owns a part of alibaba, said to be valued at $24 billion. there was an idea of a spin off, but the board decided a reverse of the spinoff, operating businesses by committees selected by the board. she has announced a plan to return the iconic company to greatness and that is what we will talk about. i am pleased to have her. welcome. marissa: thank you for having me. charlie: good to have you here. tell me how you see see yahoo! today and what you want to do to return this iconic company to greatness? what is the plan? marissa: yahoo! was the original internet icon and a huge part of people's daily lives, more than half of the viewers will view

one of its largest shareholder called for removal of the entire board, including chief executive marissa mayer, who herself has been struggling to turn the company around. the messaging service snapchat has reportedly agreed to pay $100 million for the maker of this emoji. allowing customized cartoon characters that look like people. enabling snapchat to compete with bigger rivals like facebook. my cressotti has been forced to backtrack on a new artificial --elligence chat bot, microsoft has been forced to backtrack on a new artificial intelligence chat bot. it started out innocently. she tweeted things like "humans are cool" and that she really likes national puppy day. but within hours, her tweets took on a rather offensive tone about genocide and the holocaust. it was modeled on what is actually happening on twitter. response is that she gets from twitter. people do appear to be baiting her with provocative questions designed to provoke these outrageous statements that you can see there. taken it off-line after 24 hours. it was a pretty startling transition, and a little bit of an embarrass

yahoo shareholders are demanding marissa mayer along with the board of directors be fired.nvestors have grown impatient with meyers since she took the helm four years ago. she still is confident she can turn things around. >> again, like i would love to, i would love to be running yahoo we have a three-year strategic plan to see how we can get to success. >> in one of her first moves as ceo, mayer bought tumblr for more than $1 billion. it has since lost nearly a quarter of its value. >>> and a live look now at wall street. taking a look at the big board, where the dow is down about half a point. >>> now time for a check on our forecast. here's roberta gonzales. >> good afternoon, everybody. what a stellar day around the bay area. certainly warmer than what it was 24 hours ago. but in a couple of hours the winds are going to begin to increase out of the northwest 10 to 20. that's going to add a little chill to the air but right now, i want us to start off with this. it's our satellite and radar and what it does suggest is sure! we do have some sagging and storms well to the

shareholders are trying to e out c-e-o marissa mayer... g with >>> good morning.7:56. yahoo shareholders are trying to force out ceo marissa mayer along with a majority of the board members. >>> san francisco judge is forcing caribbean corinthian colleges to pay over a million dollars for wrongdoing. >>> coming up on "cbs this morning," cbs news business analyst jill schlesinger on how to get the best deals when it makes home repairs. more and that and traffic and weather coming up. ,,,,,, >>> good morning. traveling to the bay bridge seams to be a hot spot this morning. we have reports of a brand influence accident westbound 80 at powell. it's blocking one lane. busy off that eastshore freeway towards the bay bridge speeds down to 14 miles per hour. so it's busy. at the bridge the metering lights are on. that accident on the upper deck near treasure island has been cleared. but still going to take you at least about 40 minutes to go from oakland to san francisco. backed up well into the maze. northbound 880 slow-and-go as you work your way past the coliseum. we h

largest shareholder wants to remove the entire board, including the removal of chief executive marissa mayer. the hedge fund says that she and the board have repeatedly failed investors. yahoo! shares have fallen by more than 20% in the past year, and the firm is struggling to keep up with rivals like google and facebook. shares of a dutch football team sword on thursday. at one point, the team's market value has soared by 700 million euros. a number of investors placed orders on the news of johan cr uyff's death. the tribute lost some steam toward the end of the trading day and shares finished only slightly higher. still, a pretty good sentiment in the markets. investors were literally "paying" tribute. catherine n.: we have some lovely tributes from footballers as well. messve seen pele, leonel messi.el diego mayor hidalgo -- diego maradona said, "we'll never forget you, skinny." stay tuned. plenty more coming up for you after the break. gñbq 03/24/16 03/24/16 democracy now! democracy now! amy: from pacifica, this is democracy now! >> the current attempt against dilma is a coup. there is n

what is a different company that marissa mayer could have built? one option, diving into television. she could have bought netflix. was that a possibility for you, did you think about that? because when terry was there, the idea of yahoo! as a powerhouse was given emphasis. marissa: yes, i think that overall, there are opportunities. that the same time, we have a huge user base. we cannot stop running e-mails, searches, providing the news, so -- and we have $4 billion worth of advertising revenue and advertising messages that we needed to get out on behalf of advertisers. so, i do not think there was a world where we could have done a pivot and walked away from things. there are maybe some things we could have added, but that goes back to the point of focus and distraction and saying, we really want to go back -- i found i really wanted to find the core of yahoo! and figure out how to use them. charlie: and build on them. you said what you had done in a new plan is a bold action. that sum would look at what has taken place and to say this is not a

marissa mayer has been underfire and financial experts say yahoo is underperforming. >> happening today, a major dead hype for volkswagen. the company must let a san francisco judge know if they a way to bring more than 500,000 diesel cars interest compliance with clone air laws. volkswagen admitted to installing software in the cars that cheated emissions tests. the judge warned of consequences if the company did not act quickly. no criminal charges have been filed. volkswagen is facing a class-action lawsuit. >> in a few hours, barts board will discuss the power distribution problems on the pittsburg/bay point running two trains between pittsburg/bay point and north concord until 9:00 a.m. and connect the stations by bus bridge until 3:00 p.m. shuttle service begins at 3:00 p.m. the power problems started open wednesday when a surge damaged more than 50 train cars and took the line out of commission. >> milder this morning. in san francisco. the two cool spots are glen park, friend. bother temporary hill at 49. everyone else is around 50-52 degrees through the ferry building it is 54

charlie: marissa mayer is here from yahoo!.erited a legendary, iconic company in internet history. people want the company to succeed and they want her to succeed. she does not do many interviews, but we are pleased to have her here to talk about the future and thst

at yahoo headquarters where a group of activists shareholders say they have had enough of ceo marissa mayer and want her out. ,,,,,,,,,, >>> good morning. it's thursday, march 24. this beautiful shot is given to us by videographer joseph cousins. that's pretty. >>> good morning. i'm michelle griego. >> hi, everyone. i'm frank mallicoat. it's 5:00. the accident report is out from november's union square bus crash and puts the blame directly on the driver of the bus. a report says the driver mixed up the gas pedal and brake so it careened out of control down post

we talked to one of dan's representatives who pointed out that they were involved in bringing marissa mayeryahoo!. i guess that meant they were very familiar with women. david: there you go. also in the markets and finance section, you look at the bank of kabul in afghanistan. there's now a movement under way to get that to go private again. guest: the bank of kabul in afghanistan has had some very, very bad problems, including terrorist attacks, including its previous management basically sold all its assets. the money just left the bank. and for a while the perpetrators were sort of out and about restaurants around town. but i think maybe now they're incarcerated, so now the government wants to sell the bank. and you can buy it for $20 million. it's not an easy bank to run. but it has many branches and if you have high hopes for the future of afghanistan, you may have high hopes for the future of this bank. david: any sense there are people interested in buying it? guest: they have gotten some interest. but they have not decided who's going to get it yet. david: thank you so much. thanks

cutting to the chase, you want marissa mayer out, don't you?>> it's been three and a half years and what does she have to show for us, other than an hour appearance with charlie rose. we probably still think of this great internet pioneer, turned it over three and a half years into essentially the same kind of company that aol was. >> okay. larry, make your case for yahoo! whether or not you think marissa is the best fit for long term? >> i think the stock base beingally the core business should be sold. i think it's very clear that the failure of management here is epic in its proportion. now that said, what's the best way to maximize shareholder value? i'm afraid if there's disruption in management, you're going to lose possibly 400 or $500 million a day. if you put an 8 multiple on that. the shareholders have suffered mightily, the stock has been stagnant and facebook has tripled. the internet areas that they service are growing 15% a year or more and this company is not growing at all -- >> why still hold it then? >> well, we hold it becaus

ceo marissa mayer has tried to turn around the company by cutting costs and concentrating on growth areas like mobile advertising but it has been a losing battle. the company will generate less than $3 billion in digital ad revenue this year, a drop of 14% from last year, according to researcher e. marker. that would be the single biggest annual drop in sales for yahoo! in the seven years sense e-marker began tracking it. >> we think this core business is worth more than zero which is where it's valued today. we think it's worth more than what aol got from verizon. we don't want though to have is see this sold for a fire sale type of price. there's obviously value that still could conceivably be created out of these asian assets if there's some smart individuals that are brought in with that kind of expertise too. >> analysts believe that a sale of yahoo! could be worth as much as $8 billion with potential suitors including verizon and at&t, as well as private equity firms like kkr and tpg. yahoo! shareholder meeting is expected to happen in late june and though no one knows how this will

charlie: marissa mayer is here from yahoo!.he inherited a legendary, iconic company in internet history. people want the company to succeed and they want her to succeed. she does not do many interviews, but we are pleased to have her here to talk about the future and the past. we begin with the future. as many know, yahoo! owns 40% of the chinese company, alibaba. they sold 50% of that stake in 2012. yahoo! still owns a part of alibaba, said to be valued at $24 billion. there was an idea of a spin off, but the board decided a reverse of the spinoff, operating businesses by committees selected by the board. she has announced a plan to return the iconic company to greatness and that is what we will talk about. i am pleased to have her. welcome. marissa: thank you for having me. charlie: good to have you here. tell me how you see see yahoo! today and what you want to do to return this iconic company to greatness? what is the plan? marissa: yahoo! was the original internet icon and a huge part of people's daily lives, more than hal

if you get rick hill -- if rick hill is the interim ceo, if marissa mayer steps down, if they win and rick hill is the interim ceo, you could have one of the great home runs. >> really? >> that's how great this man is. he is a miracle man. those who don't know him and haven't seen what he did at tessera or novellas, you've got to look him up. he's one of a kind. he's a very, very smart man. he doesn't come in as a board member quietly. look at tessera. but what he did with lamb was remarkable. it was really one of the great, great gains of all time. if he's interested in coming in, he will not be of the slate, he will be the slate. and that's just a huge win. i don't know how starboard got him. they would take him out of retirement. but rick hill is -- this slate is about rick hill. it's not about these other people. >> interesting. that's a wrinkle that has not been noticed yet. >> you must note rick hill. rick hill is maybe in the valley respected as one of these people who is an amazing turnaround artist, he's quiet, he's funny, he makes money. >> now, a lot of people still wonder

has been mismanaged under marissa mayer. the board is looking to sell its core business.olkswagen has failed to said where it stands on bringing 6 million cars into compliance. was ae progress, there disagreement over the deadline. volkswagen allegedly rigged omissions tests and put ready vehicles on the road. a deal would merge tivo and rosie, which holds patents for tv programming guides. and that is your business flash for this hour. in europe, it's the first major --l in years with banko creating italy's third-biggest lender. regulators have been pressing for more m&a because they believe there are too many banks in italy with skyhigh expenses and rock bottom revenues. will they get their wish? why are shares of both lenders down today? guest: this is what investors are looking at. they're looking beyond the news which creates the third-biggest lender. they are looking at the long-term synergy at how it can be achieved, particularly given that they are pointing to not -- and they are looking at long-term profit ability of the group in an environment that remains diffi

marissa mayer is under pressure to make changes.trading down today on the news that the company will stop moving advertising sales in the largest u.k. client through ireland, resulting in a bigger british tax bill. it will take effect in april. the bigger bills will be paid next year. it is unclear what the impact will be for the numbers of facebook, but the shares are outperforming the nasdaq index itself on a strong december report and a positive look at 2016. vonnie: thank you, so much. facebook.s stay with in 2014, the social media tycoon in u.k. taxes,s just over 6000 u.s. dollars, less than what the average british worker paid. it will change in april. facebook will stop routing advertising sales through ireland and increase its tax bill finally millions of pounds. is this a big deal? let's bring in jeremy kahn. jeremy: we don't know if this is a big deal. facebook does not break out its u.k. sales in its u.k. subsidiary or where it was booking them before, ireland. we don't know with the level of sales they have to the u.k. a

emily: what has been your communication with marissa mayer about this issue? r: marissa is very much aware of this and supportive of our efforts. our chief legal counsel issued a memo on this. he wanted to be the person to speak to it, to make clear that this matter deeply to yahoo! and to the future of security for our users and the internet in general. emily: you guys are dealing with a potential proxy fight, a sale of the company, a turnaround. how do you handle this as well? are you worried this could become a distraction with all the other things that yahoo! has to deal with? christopher: of all the various things that yahoo! has to deal with, i am concerned about mine. i lead the team that provides the legal support is necessary to secure the data and online experiences of one billion users around the world. that is enough for me to worry about. when you talk about proxy fights, that has been laid out in our earnings call, and i leave it to marissa and can, and trust they have that under control. emily: you guys are dealing with a specific lawsuit, invest

marissa mayer hopes to be with the company this year. she made headlines when she left google in 2012 to head yahoo! of the most valley and expectations were high and "vanity fair" called her a geek the company is expected to cut runs of jobs and may be exploring a couple of sells. i spoke to her last night on my what had gone wrong and what she plans to do to fix it. >> reporter: they look what you have done since 2012 and they say she came in and a flurry ofions and including tumbler and most of them didn't work. >> i will say that -- i actually think they did work. i think it was really a matter we need to rebuild some of the at the time, about 50 engineers in a company of about 14,000. they were working mobile. today we have more than 500 mobile and one of the biggest app development shops in the world and i'm proud of that but we had to build that somehow and built and we saw the benefits of thosens for our mobile. because of, you know, various accounting rules, yes, we did see a write-down but in my view not because acquisitions we

ceo marissa mayer speaking to charlie rose as activists and investors to go pressure and a potential what is her future of the company? marissa: there are some things we probably did too quickly, some things we probably did too slowly and not enough. but i think that we learned from all that and we are constantly getting better. carol:

scarlet: for the full interview with marissa mayer, turned into charlie rose tonight.leant ceo is back from medical lead. -- medical leave. ♪ ♪ pharmaceutical ceo taking baby steps. he is learning to walk again after about of pneumonia that left him hospitalized or months. .e is reassuring top investors around?turning valeant before we get to the blueprint, there was lots of speculation about the outlook. it was his health? >> he thought he had the flu. his long square full of fluid. rumorsally addressed that it might have been something else -- drug rehab, a he hado the caribbean -- pneumonia. scarlet: valeant is known for taking on a lot of debt. he promises to address that? are you going bankrupt, no, he said that is not true. he put on very positive light about what was happening. scarlet: he has the full support of the board? >> you have the support of the board until you don't. yes, he is ceo right now. yes, he is ceo right now. scarlet: what pressure is he putting on pearson, if any? >> one thing i can said, on march 8, maybe they will sell off the same as i uni

is marissa mayer going to give in to that demand? as we had to break, a look at the tech heavy nasdaq. ♪ betty: you are watching bloomberg markets. washington wants to buy a vowel theiral campaigns try hardest to spell success. however the real winner here is wheel of fortune, the long game show is the biggest beneficiary of this year's record campaign spending spree. drawexactly is the big ad for vanna white and company? why is a game show like "wheel of fortune" that attractive for the super pacs and put campaigns? guest: it's all about the demographics. show 10 towatch the field older, tend to be women and vote more than the average population. how much money are we talking about? $57 million in political ads. that's even better than the summer olympics did with political ads. betty: who is in company with them? the nbc today show and "jeopardy" produced by the same people that did wheel of fortune. inlly a lot of cash flowing is floodeddia market and they are looking for programs they can depend on. "wheel of fortune" has been a

what this means for ceo marissa mayer's turnaround plan and the stock price looking higher.e future with the broader opening. expect it to be done 35 points. as well as the durable goods report down 2.8% on durable goods. that is a fraction better than expectations. obviously good number. down to 20% jewish the jobless numbers expected at 260,000 coming in at 265,000. that number is weak. anthony scaramucci, no surprise here. not spending money. >> yes, that's true. there has been slight wage and labor pickup and a little bit better consumer spending. so one of the fed presidents giving a speech right now, very hawkish speech. from same os. but it does seem likely that we have to get ahead of possible inflation in the united states. so there will likely be a 25 basis point rate at some point this year. maria: i am betting june. >> that would make sense because you don't want to go too close to the election and you don't want to go into the christmas season. >> were supposed to have four hikes this year? >> you can see a overnight rate by 75 basis point. by this time next yea