i mark gurman. -- i'm mark gurman. emily: don't forget to sign up for mark's power on newsletter.lace in glasgow, a lot of expectations about what finance can do to support the green transition. my colleague spoke with bank of america's ceo, brian moynihan. >> this is the transition we have to make as a consumer, company, everything you do, everything goes around. there is a lot of pressure on banks because our clients and investors are demanding this. the politicians of the worlds are demanding this. if you think about it in the context of the sdg's, in 2015, all the countries we want this to happen, and now we have to implement it. >> when you look at what wall street's en banc in general can do. could you stop lending to businesses that pollute too much? >> to help everybody make a transition, all clients have to make a transition. some extract minerals and some extract fossil fuels. our job as a financial institution is to assess them on a risk basis. there's my plan, here's where i will go. it's easy for services to be net zero, but it's hard. we have to help them make that t

bloomberg's mark gurman joins us now.ll you how many times i have dropped my iphone or my kids have dropped my iphone. how -- why is apple doing this now and how does it work? mark: i believe 23 to 25 states have been discussing right to repair laws, making it so consumer electronic companies and other companies have to allow consumers and users of their devices to be able to do some repairs. up to this point, you had to go to an authorized repair center like best buy or an apple retail store. with this program next year, they will start selling tools and parts and manuals to allow consumers to do it themselves. emily: can i trust myself to do this? mark: i don't want to speak for you, but personally, i probably still would go to the apple store or an authorized retailer. it is not something i want to deal with. could be a lot cheaper to go to an apple store or authorized retailer to have your device fixed, but there were so many laws -- the biden administration has even been talking about this. apple has been under scrut

reporter: it is a great scoop by mark gurman on the west coast in the u.s.y that the apple card project has been in flux would be an understatement. this is a project that has been going on for years now. a lot of turnover at the top, which is unusual. and a little bit of indecision as to what exactly is the plan here. are they going to try to make a connected vehicle with the apple experience inside? are they going to go fully autonomous? are they going to go driver assistance, higher technology from that perspective? what mark heard from his sources is they are going to make a push to go fully autonomous and try to go with a vehicle that will be personally owned, which is to me what is most interesting because i think what we have seen is a lot of tech companies have concluded, and auto companies as well, this is going to be very expensive for a long time, if it is ever going to be available at all. this is a very ambitious push on their part by a new ownership, the head of the car project very recently leaving for ford. this is a new person taking over an

mark gurman joins us with more. what exactly does this share offering mean? means there is a secondary market of shares that peloton is selling to investors to build up more capital. they expected to build up more than $1 billion of capital here. their share prices in the mid-$50 range after falling by nearly half. the share price they will be selling these additional shares at, in at $46 a share, quite a bit of savings there, in order to raise that over billion dollars in capital. and we sort of see how to get your stock out of a funk. you do it like this. emily: is it going to work? or will they get the numbers to back it up? mark: shares went up today, they closed up 16% from yesterday, so it did work at least from today, people being able to come in at the much lower price. this is the first time since the ipo a few years ago that peloton did a major public offering. they say they may be profitable again by fiscal 2023. investors will want to see that happen before they continue to invest heavily beyond this initial $1 billion raise. emily: walk us throug

i am mark gurman. caroline: don't forget, you can subscribe to mark on bloomberg.com.may leave companies worried with the holidays, but not shutterfly. the ceo says she's not too worried about meeting demand despite converting physical goods to digital. take a listen. >> i think there is actually a fallacy in the way people think about digital versus physical goods, and there is a use case for both. the more digital content you have, the more need there is to have a physical representation or keepsake that you keep in your home, so just to give you a frame of reference, this holiday season, in addition to cards, we will produce about 10.5 million books, 3 million calendars, 9 million gifting orders, of which about two million will be in ornaments that people personalize for their celebrations. so it is interesting just to see the demand for personalized goods. another big trend we are seeing, we recently purchased spoon flower, a marketplace for artist to design fabrics and wallpaper. wallpaper is up to triple digits and spoon flower had its biggest revenue month ever