. ♪ oliver: we are here with megan murphy to talk about the special focus on cities and this week's ishis week. i love it and you guys love it. there is so much great work here. why the focus on cities? >> cities are a microcosm of the demographic changes that are happening. we see this entrenchment at the national political level and not just in the u.s.. cities are becoming the petri

. ♪ oliver: we are here with bloomberg businessweek editor-in-chief megan murphy to talk about a specialocus on cities in this week. i love you, you guys love to do because there is so much will it work. -- so much great work. tell me about this, why the focus? megan: the political, the economic, demographic, the changes that are happening and when we see entrenchments in the political level, cities are becoming the petri dish for

on -- all of that ahead on "bloomberg businessweek." ♪ oliver: we are back with editor-in-chief megan murphytories that is very interesting as a look at limited liability companies. an interesting story. tell us why you decided to focus on these organizations. megan: we have focusing on the president and tax, issues, shall we say, and alley structures of -- and how he structures and sense he announced. more transparency love of the present has moved to separate himself and to divest control to his sons. we want to see how that is working, how he is paying his taxes, how these structures operate. in this particular article, this is a small glimpse, a small piece of the pie, but it is important. it explains why we see such limited transparency on the president's tax returns. we can almost put together through limited information, we can likely conclude that he is using a structure, channeling through a web of llcs. we should be clear that this is far from unusual. anybody that controls or has an ownership stake in the kind of business organization that the president has almost always a structu

on "bloomberg businessweek" ♪ oliver: we are here with "bloomberg businessweek" editor-in-chief megan murphygan, let's talk about the story in japan. there is quite a bit of potential turnover and tension within the political structure. >> shinzo abe, the prime minister of japan, people underestimate the challenges facing him. accusations of corruption, the battle just got steeper. we can't overemphasize how steep the economic challenge has been. he is famous for his three arrows -- he has reduced unemployment, but low deflation and low inflation continues to hobble the japanese economy which as you know depends on an elder situation that creates a social security bill. to take care of those people as they get older. is facing challenges on that. things he has done to jolt the economy have proven very uneven in terms of their impact. now he is an issue where, this cronyism, this school that was connected to his wife, other people in his cabinet have done things that have caused scrutiny. he has jettisoned some of them. the underlying challenge is, can he marshall his forces in a way to conti

." ♪ >> we are here with bloomberg businessweek editor-in-chief megan murphy.et's talk about a story in japan. this is interesting because there is quite a bit of potential turnover and tension within the political structure in japan. >> shinzo abe, the prime minister of japan, is a man of personal fascination to me only because i think people still underestimate the scale of the challenges facing him economically and demographically. she has one of the biggest problems in japanese politics, which has traditionally been accusations of cronyism and corruption. >> it got a lot steeper. >> we can overemphasize how steep the economic challenge has been. he is famous for his three errors. he has reduced unemployment, but low deflation and persistently low inflation continues to hobble the japanese economy, which has demographics tremendously unfavorable in terms of its elderly population. it takes a social security bill to take care of them as they get older. they faced tremendous challenges on that, and things he have tried to jolt the economy have been uneven in t

still ahead on bloomberg businessweek. ♪ we are back with bloomberg businessweek editor-in-chief megan murphythat is interesting is a look at limited liability companies. why did you focus on this? megan: we have been focusing on the president administration's tax issues and the way he structures has sprawling business organization. push to get more transparency, as the president has moved to separate himself, not from his family, but from the business, we really want to see how that is working? how he is paying his taxes? how the structures operate. this is a small glimpse. this is a small piece of the pie but it is important. how we have seen limited transparency on the president's tax forms. we can almost put together through various statements and limited information, we can likely conclude that he is using channeling -- profits from his businesses through a web of llc's. we should be clear that this is far from unusual. anyone who has an ownership stake in the kind of business organization that the president has would almost always structure it like this. what is important for ordinary a

joining us from washington and here is megan murphy in studio.hen we kicked off the week -- >> i told you. out of everything that happened this week, did donald trump gain or lose? >> the important thing today are these gary cohn comments he made. agenda, a legislative there is a policy agenda and that is tax reform and then putting all their power trying to get this move forward. gary said this morning that he wanted to get this done. that isou talk to say incredibly optimistic given what happened with health care. the president said about members of his own party who are going to be responsible for getting this through the senate with mitch mcconnell. have seen donald trump throwing tweets at paul ryan, mitch mcconnell, the white house denied there were trouble there -- troubles there. how much do those tensions matter when you're trying to tackle tax reform? and with the deadline by year-end? >> it is extremely important. there was a great new york times piece about the tensions between senate majority leader mcconnell and donald trump. what w

. ♪ >> we are here with the editor , joshef megan murphy green takes a look at what has been going ont the white house. >> josh prenot who is one of the writers for business week, peeled back beyond the administration before it was the administration. , the ks we saw during the campaign in terms of who is in and who is out has only continued. withn laugh about it anthony scaramucci being ousted this week as communications director. he was the fourth official to depart in 10 days. the gravity and seriousness of this is something we need to start thinking about in terms of , if they are unable to get a hold on their own white house -- if it will be a revolving door -- if we will not be able to see stability in terms of how it is run, the leeks, how the press is dealt with, how they are operating as a white house? there is little hope -- is there any hope they will be able to progress with a legislative agenda. the collapse of health care, moving into a phase where they need to get something done. and they want to get tax reform done. >> i was thinking about coverage, we continue to seek

we are back with megan murphy.ection, cosco, what it's doing in terms of how my strategy, they have been doing it for some time but it has been casual. megan: one of the fascinating things is costco started its presence in the 98 when amazon was founded and getting bigger and exporting a new way of online shopping and cosco is somewhat we know is a big-box retailer that we like to go in for 30 cokes and a printer and a tub of mayonnaise. they continue to outpace some of their rivals. they blow past expectations including this quarter. their online strategy has not diversified as much. they offered more products and offer a similar subscription model with people walking into stores, but it has not formed a huge component of the strategy. carol: oliver: the company might -- carol: the company might argue that it's not broken. megan: it is fundamentally reshaping in the wholesale of whole foods and amazon. it has always been the last mile, getting people into by perishable goods, produce, food, people traditionally li

megan murphy. coming up, alibaba has to the close on a wrecked at high.hat is driving the surge for the e-commerce giant? we will explore. this is bloomberg. ♪ >> shares of alibaba making it our our. the bath of an analyst upgrade, and the is here with more now. who upgrade the stocks? >> was james over atlantic equity. alibaba is having an incredible year. since january, the prices gone from $87 to 174 just this year. been seeingell has into the number since the end of last week. at a also looking longer-term opportunity of alibaba. omnicell retail. and if you take a look at my it is a revenue breakdown. that is international and cloud computing. there is a lot of room to grow. businessense of this -- l, the potential question has been up over 80%. the core e-commerce business, they are talking about that other investment. look at those similar to amazon, it is investing in movies, it's taken the chinese the south china morning post sounds exactly like amazon. they are seeing a lot of similarities there. analysts look at the calls generally, 94% of analy

jonathan swan, national political reporter for axios, megan murphy, editor of bloomberg business week, elise jordan, a "time" columnist and msnbc political analyst. who does this help? >> let's put the facts in context. he can talk all he wants about it advantaging the meramerican worker but all research says it does the opposite. we have a low unemployment rate as it is right now and a slow growth rate. immigration, legal immigration, actualry boosts the american economy, expands the economy, particularly at the lower skilled sector of the workforce where frankly it's difficult to attract american workers into many of these jobs -- agriculture, the restaurant industry, the hotel industry. donald trump's hotels have asked for immigrant workers. on the higher skilled end of the market, we have a program in place used to attract higher skilled workers into this country to work. familiar with the tech industry, apple, google, the ceos calling for that program to be expanded. there's very little evidence that attracting a highly skilled immigrants actually drives up wages for other native

on "bloomberg businessweek" ♪ oliver: we are here with "bloomberg businessweek" editor-in-chief megan murphyalk about the story in japan. the

on "bloomberg businessweek" ♪ oliver: we are here with "bloomberg businessweek" editor-in-chief megan murphyabout the story in japan. there is quite a bit of

. ♪ oliver: we are back with bloomberg businessweek editor-in-chief, megan murphy, to talk about mustthe magazine. german automotive's fraught in the past couple years, let's talk about bosch. megan: this is a tale about the german diesel in missions scandal. this company is not well known --some in the u.s. and asia it is at the heart, it is an engineering marvel. it controls many things in cars. things,nternet of appliances, the way this world is moving forward in terms of how we interact with the wider array of things we use on an everyday basis. what is happened is, the issue surrounding them is, where they involved, did they know, about vw wasices that installing into its cars to beat admissions tests. were they complicit in it? how much do they know it when did they know it? they are facing us in of lawsuits, some of them serious, racketeering charges, that they knew and assisted bw with this vw with this.h idea, itouched on this thought this was compelling about the company itself, they are at the intersection of many traditional engineering industries like vehicles, electronic

. ♪ oliver: we are here with megan murphy to lk

andk you to megan murphy nick wadhams. let's get a check on markets.bigail doolittle has the latest. abigail: before we look at majors, let's look at shares soaring ahead on the news that the company will consider options after takeover interests. the stock has spiked into that and right now, we will be bringing you more. the shares of this utility company up more than 25% this year, so let's now take a look at the majors. we are looking at a rally, risk on for stocks in the u.s. we had the dow, nasdaq and s&p 500 sharply higher for the best day in more than a year. look at nasdaq, up or than 1%. being held by technology shares from the likes of apple, microsoft, also that and more. -- aand more. there are reasons to think it may not last if we look at this volume term on the bloomberg. this is showing that the average volume represented in the it's about today -- in the blue line is about today's volume. in fact, below the average by 23%, so something to keep in mind. buyers are out there but on lighter volume. in addition, this is typically a seasona

we are back with editor-in-chief megan murphy. in the business section, costco. g in terms of online strategy. they have been doing it for some time but it has been casual. megan: costco started its online presence in 1998 around the time that amazon was getting bigger and exploring new ways of online shopping. costco is somewhere we know as a retailer where we like to go in go in for 30 cokes and eight -- a printer and a tub of mayonnaise. their online strategy has a diversified. they offer more products. they are looking into a subscription model. it has not formed a huge component of their strategy. carol: the company might argue, we want to get people in our stores and wander the isles are in by a canoe i don't need. megan: if it is not broken don't fix it right? this is a market that is reshaping. particularly with whole foods and amazon, there will be disruption in the sector. people will be spending shares bigger online. the last mile is getting people into by perishable goods, produce, food. people have traditionally liked to go in and feel for those small

people are taking saving for retirement seriously said megan murphy a director at fidelity investments. >> saturday night on c-span stupid tb, on "after words", journalist jesse isaac a report on how the justice department handles white-collar crimes in his book the chicken chit club. why the justice department failed to prosecute executives. he's interviewed by jennifer, vermont law school professor. >> justice requires ambitious pieces and raising your sites so you're not just taking off the vulnerable and low hanging but going up against the most powerful wrongdoers in society and not being worried that you can't take them on or that you might lose the tape. >> at 11:00 p.m. bloomberg correspondent joshua greene reports on the 2016 political partnership between the president and his chief strategist in his book doubles bargain: steve bannon, donald trump and the storming of the presidency. >> i am sure that bannon is frustrated that he is the chief white house strategist and the republicans have control but they can't get anything done. the one guy who is getting something done for

jason johnson from root and an msnbc contributor and bloomberg business week it or the, megan murphy.new piece out about the search for a new white house communications director. >> well, what we saw from stephen miller was viewed upon in the west wing and the oval office as a star turn. the president is fond of miller. he was the opening act for many campaign rallies where he would deliver fiery denunciations of hillary clinton and he's shaped a lot of policy within the white house. he's a protege of jeff sessions who is sort of back in the president's good graces again. while he may not be necessarily the next communications director, let's remember the president has cycled through three of those already, at the very least he going to ply play -- play a larger role. but they liked this, they liked this fight. i don't think it's a coincidence that the two media outlets he picked on last week was "newsweek" and cnn. >> kellyanne conway has some of the responsibilities, hope hicks has some of the responsibilities, before he resigned sean spicer was doing some of that work and that step

megan murphy and senior editor at national review. let me begin with you. program today you see a bit of this divorce between the president and the republican establishment. kellyanne conway being quite tough on the republicans of thinking of runs in 2020 and senator thom tillis about supporting this legislation, protecting the special counsel. what are we seeing? >> you're seeing a lot of division amongst republican that is started in the primary season going forward. so much political change. definitely i can tell you on the republican side i see a lot of change going on on the democratic side as well. constitutional disagreement between the legislative branch and the executive branch. that's baked into the cake they're supposed to have disagreements. but reason publicans run the wh show. donald trump is kind of testing things that we haven't seen before. >> and going straight to the base in west virginia this week. >> sure. >> yes. i think matt is the expert on the republican party but i think what's also happening is that there's -- people are losing co

megan murphy, editor of bloomberg business week. kathryn ram pell, opinion columnist at the "washington post," and allen gomez, "usa today" reporter to talk about the immigrations. kristen, let's start with the confusion surrounding this statement. i've never seen anything quite like it. what happened? >> reporter: the administration effectively put out two statements. one, the official signing statement, which devils into some of the provisions and the background of the legislation. and then a second one released by the president, which is effectively his statement about the legislation. look, bottom line, chris, this was a controversial piece of legislation here within the white house. why? because it effectively limits the president's authority to reverse or scale back any of these sanctions. and that's why you have the signing statements, both of them underscoring the fact that the white house is not pleased with this bill. now, in terms of what the legislation does and in terms of the overwhelming support that it has, first let

megan murphy has a great team with a really interesting set of stories. this week on the mba.icon valley. cover on the silence of the trump. an image from his recent visit to phoenix as mr. trump looks forward to september. you can't do better than bloomberg businessweek to get you to september. stay with us. from london and new york, this is bloomberg. ♪ >> this is bloomberg surveillance. let's get to bloomberg business flash. the cofounder of private equity giant tbg has a reason to celebrate. gilead's takeover of kite pharma. will reap a profit of 400 and $5 million from the deal. on german invested less than $10 million in kite starting in 2011. bmw wants to give tesla more competition. the german automaker is giving its electric car a sporting makeover. the updated version will look less squat. bmw comes out with the revamped car in november. ford and dominoes are teaming up to test out driverless pizza delivery. the pies will be delivered in ann arbor, michigan by a ford fusion capable of self driving. there will be a ford engineer at the wheel. the goal is to see how cu

. >> we have steve kornacki, the editor of business week, megan murphy, micah has the morning off. good morning, everybody. coming up in 15 minutes, we haven't first excerpt anywhere from hillary clinton's upcoming book on the presidential race. she tackles a lot including this moment when she and donald trump shared the debate stage. clinton says her, quote, skin crawled while she considered how to react to him." >> well being what would you do? do you stay calm, keep smiling and carry on as if he weren't repeatedly invading your space or do you turn, look him in the eye and say loudly and clearly back up you creep, get away from me. i know you love to intimidate women but you can't intimidate me so back up. >> back up you creep, says hillary clinton. we'll play much more from those revealing tweets. in arizona last night before nows of supporters where president trump spoke for over an hour on a number of issues. he threatened a government shut down over border wall funding. >> we are building a wall on the southern border, which is absolutely necessary. the obstructionist democr