mark: why? >> emp did not fit into the narratives that they had for trying to sell two of the obama administration's major foreign policy objectives. one was the idea of a world without nuclear weapons. they were trying to convince the world that nuclear weapons don't have utility. you need hundreds of them, never be able to compete with the united states. that's not true. any nation that gets just one bomb because of emp, basically becomes a nuclear superpower that could threaten the existence of the united states. it didn't fit into the narrative of a world without nuclear weapons. and didn't fit into the narrative about the iran nuclear deal. if iran had one bomb, okay, you know that would defeat the whole purpose of the iran nuclear deal because they wouldn't need dozens or hundreds of bombs, and the verification provisions which are so poor on the iran nuclear deal would be a mortal threat to the existence of the united states. i and other specialists think iran has already got the bomb and

mark: so dr.ave these various philosophers, ideologues, their progeny, the turn of the last century, pushing this agenda of human sciences, they call them, behavioral sciences, political sciences, and they're built on this notion of science, and yet they also embrace, saying, we saw hagel, marx, this sort of thing, who really do insist that basically have to destroy the existing society in order to get to the promise land for a variety of reasons, materialism or whatever it is. >> we've heard that before. mark: we've heard that before. modern incarnation of this, of this attitude of this belief system, the progressives, the so-called democratic socialists, isn't this where they're dragging countries or maybe not dragging them where, people want to go in the various countries in europe and the united states? >> sure, everybody wants to go there, provided they can go there without any personal inconvenience. me, too. i'm not objecting to universal health care. mark: it doesn't work. >> it worked for

mark. mark: great chart.rumpresident donald urging his administration to consider additional tariffs on chinese goods. white house economic adviser larry kudlow is trying to stand down fears. -- stamp down fears. >> this is not trade war's, all we are trying to do is save and defend american technology, which is crucial to american economic growth. mark: stephen isaacs of alvine capital management committee is visiting new york. to use a phrase on a used, seems to be good cop, bad cop, donald trump escalates and larry kudlow, deescalates. we should listen to donald trump? >> who is in charge? when you see the changes donald trump has made to the administration, his authority is gomped and brought people in with his message. wishing things could be resolved amicably but the question i have, this trip helping me to form an opinion, will donald trump carry on with this approach? is this war? i think he will. anecdotally, the sense when you read the european media, global media perhaps, it kind of donald trump pr

. ♪ >> good evening and welcome to tucker carlson tonight, i mark steyn mark steyn and forechecker.here are conflicting reports tonight on whether president trump is a target in the various investigations roiling washington from the mueller probe to the michael cohen reins. for possible criminal charges, ed henry is in the white house with all the developments paid what's going on? >> great to see you. this could be a big deal because what you're learning today is at the deputy attorney general and the oval office meeting last week told president trump he is not a criminal target and either at the michael cohen investigation or the special counsel probe involving robert mueller. bloomberg kicked elvis off by reporting that during this meeting, rosenstein basically said to the president that he's a subject would meeting his conduct is under investigation, but there's not enough evidence to charge him. rosenstein was reporting this for the first time since cohen's home and office were rated. mueller is important to note has not ruled out making the president a target at a later date b

mark: no. the way the system works, advertisers bid how much it is ad orto them to show an when an action happens. we don't get a percent of the sale. let's say you are an app developer and your goal is to get more people to install your app. you can bid and say i will pay three dollars anytime someone installs this app. we calculate which ads are going to be relevant for people and we have an incentive to show people ads that are going to be relevant because we only get paid when it delivers a business result. >> so you could be paid for the sale. actionet paid when the of the advertiser wants to happen happens. corker: mr. zuckerberg, it has been a long afternoon and i appreciate you being here. i am going to echo what a lot of my colleagues said today. i appreciate you being here. i appreciate the apologies. stop apologizing and make a change. i appreciate the fact that you talked about the principles for facebook. and that users have complete control of the data. i'm hoping you can help me

mark: and i am mark barton. this is bloomberg markets. -- the bloomberg commodity index keeps inching higher. big movers in aluminum. effect has this ripple gone? obviously aluminum is the starting place. >> i think you are seeing it right across the baseline. it is true that there are no sanctions on nickel or nickel producers but given the space of the policy coming out of the u.s. which is quite unpredictable, given the track record of really hard-hitting sanctions, people have been positioning themselves for that being a reality one-day and it has been dramatic. to the things to look out for, other big russian commodities. think about palladium and gold. it is a huge gold producer. mark: he was -- who is winning in this move? making hay when the sunshine? stuart: not the obvious names. a lot of them are reliant on raw materials that is in some way connected to russo. they are a huge player in the alumina market. if you have captured supply and you are a producer outside of russia, then you are making a great deal of money right now. m

mark: live from london, i am mark barton with european close minutes away.eir search for a new search executive is over as they will hire david schwimmer. from investment banker to investment banker, do they won a smooth transition with not much change in strategy? ,> i think so, the previous ceo did a strategy that investors liked, made the company bigger and more global and not so cyclical, not so based on trading volumes but on other things like data, technology, indexing. investors like it. they do need a ceo because the last one left on bad terms with the chairman, they want someone with the same background. no one to make big waves strategically. isnie: david schwimmer american and a specialist in exchanges. do those together make it more likely there may be another deal or if an exchange came calling, he would be open to the idea? >> i think, yes, i think that, someone like that trouble we has the right contacts. at the time on wall street spent with these companies means that he would want -- you would not want anyone else to take the call. that is n

mark? mark: deutsche bank planning to cut headcounts in the u.s.y more than 10%, according to a person briefed on the matter. let's bring in stephen who broke the story. well done. great story on such a big day for deutsche bank. what have you uncovered? out and as you pointed said earlier in the day, they will pull back from parts of the corporate investment bank, and that will focus to a large extent on the u.s., and what we is is a first indication on how big that richard will be apparent so, sources say they will let go of more than 10% of the workforce, and that will affect whether 1000 people, so we are looking at that scale. we may find out at a later point that it is even bigger. vonnie: where will they come from, these playoffs, and how much bigger than a typical layoff with this be? steven: these layoffs will focus on equities, corporate finance, and they also said they are looking at u.s. rates. they will not focus so much on real estate lending. we obtained a memo from the head of the investment bank, who has singled out various parts o

mark: hello, america, i'm mark levin. this is "life, liberty & levin," and our special guest, former attorney general ed meese. how are you, sir? >> fine, thanks, mark. mark: there's a lot going on in the country these days, but before we get into that, you were attorney general of the united states, 75th attorney general of the united states. we're going to get into that in a little bit. before that you had quite a substantial career, too. i'm curious to know, you go way back with ronald reagan. how did you get to know ronald reagan and when did you get to begin serving ronald reagan? >> well, it all began right after he was elected as governor of california in 1966. at that time, i was in the district attorney's office in alameda county. that's the county in california that has both oakland and berkeley. both rather significant cities for various reasons, and i enjoyed my work there, i enjoyed working with the police. i enjoyed trying criminal cases, and i'm going to say reasonably successful, so i was not looking for a

mark: i am mark barton in london. this is the european close.orld of football, the legendary arsenal manager will step down at the finish of the season. for those not aware of arsenal, 22 years, put it in perspective. what a breath of fresh air he was. for english football. >> when he came in, being in the premier league was different. we played in an aggressive type of passesl with lots forward and long balls. he wanted to play a more european way. how the spanish were south americans play, short passes. more of an entertaining way of playing football. a lot of other clubs had to change their styles because of wenger. , the formereville manchester united defender, admitted. >> he said that somebody that one the league eight times, he said they had to change the way they played because of wenger. mark: it was a nutritional thing . in the 1970's and 1980's until the time he came in, before yootball was reputational h mired in, they are not fit and drinking too much. then you had a different approach. >> it was known as the professor and into spor

mark: linked to brexit?ition but we don't have the details, we have the irish border issue. it looks like kicking the can. there is still not a lot of clarity. the data today. you don't know if it is that these to the east or something much worse. mark: we will see if these forecasters are correct. vonnie: thanks. it is time for the stock of the hour. the chiphares of company, among the worst performers of the s&p 500 and the nasdaq. a bearish stint. abigail doolittle tells us why. reporter: we have to set the stage. micron up 600%-- since two weeks ago and that reflects upturn in memory pricing. reported, the quarter was fine but the guidance was weak. investors are concerned about deceleration and that could cause a turned down for stocks. are we going into a downturn? or is this the new normal? driven by big enterprises? that is unknown but this analyst at ubs, he has a rating on the stock, $35 price target, could be 30% downside from here. vonnie: how much of micron's business does it affect? 20%, pricin

i'm mark steyn, in for tucker tonight.llegal immigration is turningng into a crisis across the country. and it is not because we lack laws, but because those laws are being ignored. according to new statistics from the department of homeland security, dozens of gang members, including gang members of ms-13 are prowling the streets because sanctuary policies let them go free. two-thirds of the released gang members were in california. apparently, that's the only problem with illegal immigrant criminals is that they don't have the right to vote yet. meanwhile, in massachusetts, an illegal immigrant working as an uber driver raped a passenger and has now fled back to ghana. and in washington, neil gorsuch just sided with the court's liberals to strike down a law ordering the deportation of immigrants who commit violent crimes. raul reyes is an attorney and immigration advocate, and he joins us. this rape victim, she has made emily murray. because she now basically has no redress from the courts. what is the deal with that? wh

mark: live from london, i am mark barton with the european close in 15 minutes.e: stocks trading lower on trade tensions. let's get back to steve englander of rafiki capital. of our markets live blog. what incentives are out there as this chess game progresses to checkmate? steven: it is painful politically. there is an incentive for them to come to a deal. chinese tariffs are still higher than u.s. tariffs in a number of areas and the principal of reciprocity seems intuitive, given the chinese state of development, far different than 20 and 30 years ago here in -- years ago. if they can take a first up, relatively easy, grab low hanging fruit, they can discuss the longer-term issues, intellectual property and investment policy, much harder to deal with. , this point regan is that the market is the arbiter. it is not really -- financial assets are not suited to be the barometer for political trade words. -- trade war's. >> knock on wood, there appears to be speculation that we may be forming the bottom in the stock market. we have not shot below the lows of febru

this is bloomberg. ♪ mark: live from london, i'm mark barton.onnie: from new york, i'm vonnie quinn. this is bloomberg markets. tech earnings are helping to boost stocks. microsoft, earnings, amazon helping to boost expectations. there is also a fire alarm going on in the building. to stay here, as is our guest. the head of sector strategy for fidelity. nothing to see over there. talk about the markets and the correlations we have seen this year. >> i have a bit of a different process than most people are used to hearing. nine is really historical probability-based analysis. internal fundamental and macro data come using history to inform our view on making smarter and more thoughtful investment decisions. vonnie: what have you found? respected,ackdrop what is unique about this recovery, we had a corporate profit recession from 2014 22016. more prolonged on a global basis but we had one in the u.s.. a clear divergence from gdp growth where we did not have an economic recession. if we just look at history and look at a typical profit cycle withou

mark? >> mark: that is pretty amazing news. thanks for that.he executive assistant director of the fbi, not one of those who's under criminal referral, and competent as the president of judicial watch. tom, this is pretty amazing. we basically got a situation where the director of the fbi, the principal business in the prosecution of the a deputy and possibly vice versa and comey's case. it's bizarre times. >> it is. remember, he is the number two at thehe fbi, was number two, ws the senior official charged with investigating hillary clinton over the email matter. targeting president trump. as p far as i'm concerned, his conduct that's been alleged by the inspector general, h and to know he's facing potential prosecution, has tainted both investigations. remember, andrew mccabe, ironically, it is the official who reportedly set up the ambush interview of those agents with general plan and general flynn was later charged with lying and admitted to lying to those agents. now mr. mccabe is charged, could be charged with lying at least three times

tom says mark. mark what do you say?ember that. >> jimmy: oh, thank you, thank you. you lost it on the 2nd hole or in the 2nd hole? i didn't mean it like that. all right. i think we have a tie. we have a tie? all right, scarlett, tom, and mark, you each have, i don't know, a lot of bonsai trees. >> i have three. >> jimmy: the tiebreaker question. >> a tiebreaker. >> jimmy: denai and dave, you are not eligible. sorry. how many infinity stones can you name? you have 10 seconds. name as many as you can. there are six. we'll see how well you paid attention. to this movie you did 30 different times. all right. all right. go ahead, tom. start it off. wow, tom. one, two, three, four, five, he's got all of them. mark, do you have all of them? >> i'm embarrassed. >> jimmy: let's see what you have. i want to see what you have. >> time, energy, reality -- >> jimmy: yeah, that's not even one. scarlett? >> what? i don't want to -- >> jimmy: all right. we have a winner. it's tom hiddleston, everybody! [ cheers and applause ] tell him

mark: two things. one is we removed the ability to exclude ethnic groups and other sensitive categories from at targeting. that isn't a feature that is available anymore. for some of these cases where it may make sense to target practically a group -- the -- we reviewoday ads and screen them up front. ist of the enforcement today that our committee fights issues for us when it comes up. if the committee finds the issue which hasan our team, thousands of people working on it, should take it down. we will make some mistakes, but wanted to make them as soon as possible. overtime discharge is to develop or ai tools that can practically identify those types of content and do the filtering up front. >> thank you. story.kerberg, quite a to the global but he missed you guys are. only in america, which it agreed with that? you couldn't do this in china, what you did. mark: there are some strong chinese internet companies. >> you are supposed to answer yes to this question. [laughter] this is a softball. the ans

emily: mark? mark m.: yeah, it's possible. two points i would make.t think there would be anything in regulation that would competitively disadvantaged facebook's advertising platform versus others. on the user side, it is possible you would shake off some users, but i think the core value proposition of facebook to users continues to build over time, especially as facebook watch and maybe facebook marketplace builds out over time. emily: ok. mark m.: i think you may have a temporary issue, but i doubt it changes the long-term trend. emily: rbc capital markets analyst mark mahaney, thank you for joining us for the first half hour of "bloomberg tech." sarah frier, thank you as well. coming up tech takes on malaria. , we will talk to bill gates next. this is bloomberg. ♪ >> president trump says he and prime minister shinzo abe will continue to work on trade and what he calls imbalances. abe says japanese investment has been gaining momentum in the u.s. and the president wants greater access for american goods in the japanese market. >> we are working on

mark: we'll be right back.h esurance photo claims, you could have money for repairs within a day. wow! that was really fast. that's insurance for the modern world. esurance, click or call. the kayak explore tool shows you the places you can fly on your budget. so you can be confident you're getting the most bang for your buck. alo-ha. kayak. search one and done. ♪ most people come to la with big dreams. ♪ we came with big appetites. with expedia, you could book a flight, hotel, car, and activity all in one place. ♪ . >> live from america's news headquarters i'm kelly wright in new york. former first lady barbara bush is in failing health. the 92-year-old wife of president george h.w. bush and mother of president george w. bush will no longer seek care. she is surrounded by her family and appreciates the kind messages and prayers she's receiving. >>> actor and former marine corps drill instructor r. lee ermy passed away, longtime manager and friend says he died of pneumonia-related complications, best known for

mark: yes. >> i want to show you the terms of service that he provided to facebook. and note for you that in fact, facebook was on notice that he could sell that user information, have you seen these terms of service before? >> i have not. >> in facebook was responsible for seeing those terms of service that put you on notice? >> hour after the team would be responsible for that. center, nobody has been fired because of this. of servicethe term conflict with the ftc order? that facebook was under at that very time? that the terms of service was in fact, provided to facebook and ftc orderote that specifically requires facebook to protect privacy. is there a conflict there? that we should be aware that this app developer submitted a term that was in conflict with the rules of the platform. washat happened here willful blindness. which he was an reckless amounted to a violation of the ftc consent decree. would you decrypt -- a great russian mark >> no. my understanding is that, not that this was a

this is bloomberg. ♪ mark: live from london, i am mark barton.ncient romans believed the goddess best watched over their homes. amazon hopes another can watch over your homes. in garrett. explain to us what it is. i don't want an ancient roman goddess. >> this is a story he broke. the important thing is we don't know what it's going to look like or what it's going to do. but we do know is amazon is working on some kind of domestic robot that is separate from its work in warehouse and manufacturing robotics. vonnie: how will it be different from alexa? will it be able to carry things? size itn't know what will be or what it will be able to do. there are job postings and hirings for expert to focus on fencing sensors and processing. it will be able to move around the home. has the idea of robots at home been a holy grail for the last 20 years or so? >> it's the history of science fiction. it is something for amazon that they want to be in your home. that's what the echo device does. it makes it easy for subscribers to buy affordably so you buy more

mark: live from bloomberg's city of london headquarters, i'm mark barton.nting you down to the european close. deutsche bank's chief executive gets the ax after losing more than half the banks value during his tenure. the new chief executive is a three decade veteran of the lender and a retail banking executive. he says "the challenge ahead is a big one in the new leadership will not accept missing targets anymore." the banking professor, thank you for joining us today. is sewing the right man to take deutsche bank forward? is he the right man? >> he is the right man because he was there. they were looking for other candidates and that somehow the whole thing sped up and they needed some of the immediately and he was there. origin and very much in his career as well. mark: it seems the board is divided on at least some measures. it seems the head of the investment bank is one of them. do you think the divided board can close ranks behind the new chief executive? hans-peter: i think maybe they can do it more easily because they really come from inside the ba

mark: you agree with this?order for three days, i'd like to say there is no border. it's a joke. there is literally a copper bar that you could step over and walk into mexico. this is in the tucson sector, the number one sector of drug traffic in the country, and i talked to border patrol agents, senior level border patrol agents and said how many of you support building a wall? we polled all the agents, 95% supported building the wall. the other 5% didn't understand the question. what we have here is attack on sovereignty, attack on our country, an attack on our culture at its very core. a nation is defined by border. you have a weak border, you have a weak country, it's intentional. i don't give the democrats any sort of advantage on the argument. i don't give them the benefit of the doubt quite honestly. they want open borders, they want political and societal chaos. they want globalist agenda where america is not better than any other country where the constitution is run amok. when have you 15 million ille

mark: live from london, i'm mark barton. let's talk russia. oligarchs for a hit in the u.s.anctions against russia. sanctions were levied against thosetycoons, including linked to paul manafort. senior officials. greg, the names that leaked to the forefront in the wake of these sanctions -- >> the oligarchs, they are big. until now the u.s. has not sanctioned businessman for being close. the is a way of targeting business sphere. the u.s. expelled 60 diplomats. we expect to to get from putin? , therepublic response were some leaks. they were not sure who was going to get hit. there was a threat of retaliation. there has been a mixed message from the kremlin. there was a clear downward spiral. they are still holding out hope for trump and don't seem to be hoping -- holding these steps against trump personally. they feel he is being pressured into this. they are holding out hope that trump will deliver on his promises for better relations. vonnie: had do you visit the white house after having had your best friends and others sanctioned? >> it is difficult. get therder, you rus

mark was originally from ohio. he served on the traveling press staff during the 1980 presidential campaign and then was asked to go to white house press office and become assistant press secretary. mark was one of the first people that i met when i started into presidential events office at the white house in january 1985. back and then just like ronald reagan mark was beginning his second term in the white house. and although polite and was served upon our first meeting, personality traits really observed in march after one's first meeting, he quickly included me in the team culture of the reagan white house. from that point on he never failed to greet me without a smile come something like how are you? and a quick thrust of his hands in front of your face as he bent back his fingers all the way to his wrist, a wonderful little double-jointed trick that only about 20% of the population can accomplish, that serves even today to under it with those of us who have seen it hundreds of times. [laughing] i got to know

mark: -- mark: not necessarily in the last few days. because we have aging populations, the demand for income in bonds is going to continue to be robust. in developed markets, the yields are very low. 0% in japan, half a percent in germany. u.s. interest rates are at very wind levels. if you look at u.s. versus germany or japan, u.s. is at levels we have not seen in 10, 15 years. the u.s. bond market as well as select emerging bond markets makes sense in the context of all global bond market yields. vonnie: we saw conciliatory rhetoric from the china leader although he did not name trump or the u.s. i'm wondering at one point china does do something like intervene in its currency market or pull back a little bit further on bond purchases. mark: on the currency, i don't think that is in their best interest. purchases, bond china has been buying less. the fed has been the biggest purchaser of treasuries. apan and china basically own trillion u.s. treasuries and we are set to issue more bonds in the market. we are running 5% deficits as op

from london i'm mark barton. --. mark: from london, i'm mark barton.are back with binky chadha and peter coy. does this trade war reinforce the case for small over large caps? >> i would argue yes. i would argue there's two or three big contradictions in the huge equity rally that we saw over 15 months or so. number one is the shootout performance since march of last year of growth over value. second is the underperformance of small relative to large caps and i would argue recent developments especially the catalyst for growth in the tech sector and the trade war reinforce the case basically for both. vonnie: i want to bring you back in and show you this chart. it's u.s. treasury held by china. we are still at 1.2 trillion or just underneath that. that's a massive amount. to spook the take markets? would it take a large drop in that number? at what point will china decide that's the way to punish the u.s.? to spook the markets? >> i don't see that as being the thing to worry about. it would only hurt china. if it actually reduced the value of treasurie

mark: and from london, i am mark barton.ish sales from supplies taking a bite out of the world's most valuable company. investors turning sour as questions mount over iphone demand. spree, alphabet shows the companies willing to pay up in order to catch up. , theto break it all down bloomberg gadfly columnist to has called the end of the apple iphone super cycle. it is written in stone, now. you called it dead. : that is predicated on the idea that the super cycle even started. ultimately, iphone sales are flattening and iphone sales are flattening and apple is or has been able to keep revenue growing and charge higher prices and generate more sales through services. it does not mean the end is near for apple itself but it is not good news for the suppliers. apple is bringing more and more in-house. at one point does it become very profitable for apple to do that in the margins expand again? suppliers lose out, but so what, for apple? alex: they might not be selling as many iphones, but they make more money for each iphone t

kamarck lies buried in highgate cemetery marks is dead long live marks we need visionary thinkers like him more than ever as the problems of exploitation poverty and inequality remain unsolved kamarck outlined a vision of a better world but it's up to us to created. vanity might be flattering but he who surrenders to fame and. a mere shadow of himself. his ideas will revolutionary change society and altered the course of world history . but is that enough to make someone an icon. or a poster boy for communism a cult figure a cartoon character no for that you have to have something more than a certain something to bush the main plus plenty of facial hair contests either. your thoughts karl karl marx buddha hard to tar going on. you know to. there's a. part of it and to peace for. his looks became his trademark draws the circle strong santa the code and brother had added dark moustache presto karl marx everyone knows him if not his works. tonight is indeed a unique occasion in the history of television we were very privileged and deeply honored to have with us in the studio comox founder

♪ mark: i am mark crumpton in new york. you are watching "bloomberg technology."ere is a check of first word news. house speaker paul ryan will not seek reelection this fall. he made the announcement today and said he is leaving with no regrets. >> i am proud of what this congress has achieved and i believe its future is bright. the economy is strong. we have a given americans greater confidence in the lives, and i have every confidence i will be handing this gavel onto on to the next republican speaker of the house next year. mark: president trump is still considering possible u.s. military options against syria. he met with defense secretary jim mattis on the matter today. that meeting comes after the president tweeted a warning to russia to expect a barrage of missiles. the president is scheduled to meet with state governors and congressional members tomorrow to gauge the impact of his tariff proposals. the meeting comes after the president praised china's president xi jinping for toning down the rhetoric on what some say was the beginning of a trade war. as is

zuckerberg -- date 24 mark zuckerberg. stock pricing went up and they are hoping for a repeat performance today. >> reporter: mark zuckerberg did not enjoy much personal privacy as he sat down for what would be a five hour session starting with an apology. >> we did not take a broad enough view of our responsibility. that was a big mistake. it was my mistake and i am sorry. >> reporter: mark zuckerberg explained the safeguards that are in place after the data from tens of millions of users wound up in the hands of data mining company, cambridge a little, which was linked to the trump campaign. there are larger issues at play over privacy. >> would you be comfortable sharing with us the name of the hotel you stayed in last night? >> no. >> i think that is what maybe this is all about. your right to privacy. >> reporter: mark zuckerberg went on to say that users have control over how information is shared but there are limits and apparently different standards. the company admits it has been quietly deleting mark zuckerberg'

what did you think about mark zuckerberg's testimony. >> caller: i thought mark zuckerberg did an excellent job. even when he evaded questions, i felt he was very attentive. there was some real sincerity that came across, some real surprise. sometimes he did evade questions, but i would say over all he did great. i was embarrassed, especially yesterday by the senators, by some of the questions and the repetitive questions that came in with their questions, i assume the staff prepared or they prepared with them. and it was very uncomfortable today many so of today, but mostly more yesterday, when the same question would be asked. because they didn't have an understanding to understand their question had already been answered and they asked the same thing. but mark zuckerberg was very patient. never said i already answered that. or this is the tenth time i've answered that. so i just felt in this situation the senators and the representatives would have been better served by taking an expert on their staff who is maybe an expert in technology, getting the questions they want, and let someone

mark: yes. the firsty be appearance before congress but it is not the facetime facebook has to face tough questions. you have aine noted 14 year history of apologizing notill-advised decisions unlike the one you make in your opening statement. after more than a decade of promises to do better, how is today's apology different and why should we trust facebook to make the necessary changes to ensure user privacy and give people a clearer picture of your privacy policies? chairman.k you, mr. we make a lot of mistakes running the company. it is impossible to start a company in your dorm room and going to the scale we are at. because our service is about helping people connect, and information, those mistakes have been different. we try not to make this a mistake multiple times, but in general a lot of the mistakes are around how people connect to each other because of the nature of the service. overall, i would say we are going through a broader philosophical shift in how we approach our's possibili

andrew: thanks, mark.increased volatility we have seen so far this year and the fact that with interest rates rising particularly in the u.s. -- it is getting to a period where active managers should demonstrate the value they add. that is being reflected in client conversations -- as they see return expectations come down, the value of active managers can add on top of that is incredibly more valuable to them. 2018 there is an opportunity for active managers to demonstrate how important they are outside of client portfolios. mark: you did see outflows in the last quarter of last year ther a period of inflows, first in the merger last year -- are you finding that volatility is helping with flows of money? volatility has the benefit from an active managers point of view of improving the return distribution in dispersion of stocks to help. what it does at the client level is give them cause to pause in concern. what you are seeing in first quarter is a lower level of investing my clients, given the sheer amo

amy: that is mark zuckerberg. zeynep tufekci, if you can respond? >> there are some things that are genuinely hard in conflict about this economy and will need to figure out, include in facebook. there are some things i have sympathy for. the situation in myanmar and what facebook allowed is inexcusable because i know that -- i personally know at least in 2013, civil society groups have been literally begging facebook to step up. what happened is, as the country transition from the military junta to a more democratic, open situation, facebook amen along with the rapid spread of digital sim cars and phones, but without the proper oversight. imagine -- consider all of the the new public sphere is causing in the u.s. and europe were we have a lot of accounting institutions. an extremiste is buddhist group that is very anti-muslim and is promoting ethnic cleansing. this is not a joke. it is the second biggest refugee outflow in the world. and what they started doing is all ofacebook to spread these false accusations.

this is bloomberg. ♪ ♪ mark: live from london, i am mark barton. close on bloomberg markets. mark: time for the bloomberg business flash. warns that threats to the global financial system are rising, saying risky assets are surging reminiscent of the year before the global financial crisis and says stock prices are high, especially in the u.s. so our corporate bond valuations. an italian oil coming believes opec and its allies will try to keep production cuts in place. we spoke to their chief executive and an exclusive interview. >> they will continue in 2018. whatllow the price and see happens this year. about 75, 80, $85 and maximum is the right price for these countries. nobody wants to go back $100, $110 per barrel. mark: opec and its allies are meeting in saudi arabia. can go tooday, you the movies in saudi arabia for the first time in more than 35 years. a fiat -- theater opening and riyadh, "black panther." ban on theaters five months ago to open up the country. big blue in the red with ibm down more than 7% two years following disappointing

mark: great job.onnie: here in the u.s., president trump is welcoming shinzo abe to his mar-a-lago estate today. on the agenda, north korea and trade. it comes with concerns over the case involving the president's personal lawyer. our chief washington correspondent is live at the white house. shinzo abe wants something out of this visit. he wants something on north korea and wants to clarify what the u.s.'s a position is on trade. kevin: with regard to trade, the chief economic correspondent will be traveling there and we should get new details about the meeting. you cannot ignore what is going on with china. the chinese announced a $957 million response in terms of what they're implementing. according to the chinese, they will impose imports to incur a 178.6% duty. they say this is in line with the wto and the japanese are eagerly awaiting how the dynamic tween the u.s. and china plays out. how does japan navigate a new relationship with the united states and hold on to the relation it has with other

it's been a long two days for mark zuckerberg.merged mostly unruffled after 48 hours of congressional grilling. zuckerberg generally kept his even as lawmakers downplayed his apologies over failures to protect user privacy and assurances to do better. there is no clear agreement on what regulations will look like or what facebook would support. still, shareholders and seem to be relieved that zuckerberg can hold his own. shares rose through both days of the hearing. data collection, particularly facebook,were not on emerged as a key concern. we have an following every step of these hearings. two, moreay from day pointed questions, better informed questions. zuckerberg still generally unflustered, but a little more evasive and a little more nervous. guest: they were really attacking him and trying hard to bait him. you have to give him a letter of credit for equanimity. he kept his cool. did notthe questions he fully answer and he may have said some things that were incomplete also appeared -- also. emily: there was a striking exch

frank, thank you. >>> mark tamayo has been filling in for my friend steve today, and mark, today's weathering to change later today? >> it will change rapidly, especially into the evening hours. this morning, so far, it's been nice. 4:00, seems like a long time ago, relatively clear skies, but clouds have been moving in since then. partly cloudy say cross the bay area. the rain timing will move in early this evening from about 5:00 to 8:00 as the main frontal band is moving in from the north. you can see yesterday's system was falling apart over northern california, producing scattered showers. the organized rain fall to the north, and throughout the day, there's a chance of a few sprinkles or at least some drizzle up in portions of the north bay or a light shower to sonoma county. current numbers, they are recovering after a cool start. we have right now, 40s, south to santa rosa and napa. 54. san jose in the mid-50s at 55 degrees. the live camera looking out here, and you have the idea, some cloud cover, but plenty of break in the overcast, and the cloud cover will eventually win out dur

mark: i am mark barton.hat happened at the end of the tuesday session. first trading day the second quarter. stocks falling to lows of the day. the european benchmark was down 1.6%. 0.6%, almosty moving into the green, finishing down 131%. infell for a second month march, the worst stretch since august 2017. expanded, delayed production due to increasing capacity restraints. bang in line with the previous estimate, activities slowed across countries and in the region. while supply chain bottlenecks was stymieing production at some case, demand, being capped by euror prices and the depreciation, this is a failure yield catching up today marginally to 50 basis points. we are seeing bond yields rise and bond prices fall. the german ten-year yields, is up the first day since february the seventh. the peak of the chart going back to the beginning of the year, falling 77 basis points to roughly 50 basis points, 77 basis points was the highest in 2.5 years. sterling's good fortune is set to continue this month. it

is not a simple matter of yes or no, mark zuckerberg said. and this was a chess to get a public hearing so you get the facebook ceo to commit the things, and even perhaps overcome it. emily: yesterday we saw several examples where he gave a look when it came to regulation, and what he thinks is good in principle. those words can come back to haunt him. how can you say now you are against this? saidto what he will say, i the right regulation, and who knows what right relation means when it comes to -- we are in uncharted territory growth facebook and social media. what does the government to and what can congress to? ceos: i think other tech might be wincing a little about some of the things he is saying. for example, he thinks in principle a have a moral obligation and moral responsibility around what content is on the site, when four years they have said we are a neutral platform and we don't get involved. company,re not a media we are a technology company coming tries to hammer that home time and time again. emily: i was going to say yester

this is bloomberg. ♪ >> i mark crumpton -- i am mark crumpton.ere is a check of first word news. after opening a meeting with a strong condemnation of the chemical weapons attack in syria, the president provided more information about his upcoming meeting with north korea's kim jong-un. president trump: north korea, as you probably seen, we haven't touched -- have been in touch with them and we will be meeting with them sometime in may or early june. and i think that there will be great respect paid by both parties, and hopefully we will be able to make a deal on denuclearization. mark: hundreds of striking railway workers demonstrated in paris today, protesting president macron's plans to change their benefits. strikes. day 4 of more than 2000 police officers in france tour down flaming barricades and fired tear gas as they evacuated a protest camp erected a decade ago to block construction of an airport. france gave squatters until spring to clear out. in berlin, six men who were detained over concerns of a possible attack on the city's half ma

but first, it has been a long week for mark zuckerberg.till, he emerged mostly unruffled after two hearings before congress. he generally kept his cool, even as lawmakers downplayed his apologies over failures to protect user privacy and his assurances to do better. some coming up the facebook ceo with stern words. take a listen. >> how can consumers have control over their data when facebook doesn't have control in over the data itself? that is my concern. >> who was going to protect us from facebook? is also a question. >> mr. zuckerberg, i think your cozy community, as dr. martin jamieson recently said, is beginning to look a lot like "the truman show," where people's identities and relationships are made available to people who they don't know. >> your platform is still being used to circumvent the law and allow people to buy highly addictive drugs without a prescription. with all due respect, facebook is enabling an illegal activity, and in so doing, you are hurting people. >> you said everyone controls their data, but you are collect

amy: that is mark zuckerberg. zeynep tufekci, if you can respond? >> there are some things that are genuinely hard in conflict about this economy and will need to figure out, include in facebook. there are some things i have sympathy for. the situation in myanmar and what facebook allowed is inexcusable because i know that -- i personally know at least in 2013, civil society groups have been literally begging facebook to step up. what happened is, as the country transition from the military junta to a more democratic, open situation, facebook amen along with the rapid spread of digital sim cars and phones, but without the proper oversight. imagine -- consider all of the the new public sphere is causing in the u.s. and europe were we have a lot of accounting institutions. an extremiste is buddhist group that is very anti-muslim and is promoting ethnic cleansing. this is not a joke. it is the second biggest refugee outflow in the world. and what they started doing is all ofacebook to spread these false accusations.

in new york, i am mark crumpton. bloomberg technology is next. ♪ emily: i am emily chang and this is "bloomberg technology." markets are thinking again and investors are worried that the trump administration will not back down in their trade confrontation with china. plus, one of the most famous investors in the world could be changing his tune on bitcoin. the cryptocurrency get a new wave of support after falling dramatically this year? facebook is working to regain the public's trust rolling out new rules for advertisers. the move comes as ceo mark zuckerberg is set to testify before congress next week. the first, to our lead, u.s. stocks continue to slide friday marking another week of losses after president trump ordered a review of additional tariffs against china. all three major averages finished down over 2% with the dow seeing the biggest slack falling more than 500 points. among to bring in romaine bostick. and our guest host, tech economy ceo and author, david kilpatrick. romain, i want to start with you.