>> joe biden's grandchild likes to share with michael bloomberg on his pass a fire. >> there is a hunter and a first. american people, someone who has experienced real world experience, carly fiorina has been a test for that. there might be a spot for mayor bloomberg to lead the way on people who are hungry for that kind of candidate. >> if you want an authoritarian you got one, michael bloomberg. it is hard to deal with. >> moving on. we have been talking about this. team hillary is trying to lower expectations. the clinton camp set out an e-mail to reporters in announcing her official campaign launched on june 13th a rollout part 2. included the nuts and bolts of the event and bullet points like this legion i won the democratic candidate for president has ever received more than 50% of the caucus votes unless a sitting president or vice president for income and i was senator and in new hampshire and the democrats in a contested primary in the last 25 years has won more than 20,000 votes, even running unopposed in 2012 as the incumbent president obama received 80% of the primary vote. c

that i think secretary is going to have incredible democratic support. >> many are urging michael bloombergwhen others are diving in fast they must be sensing blood in the water. >> listen, i think it is clear to have a real primary and sanders o'malley whether webb comes in. >> bloomberg could be an incredibly interesting candidate, obviously, i know mayor well and big fan of the mayor. >> who do you like more? eferghts both but supporting secretary and i will continue to support the secretary. >> you don't think there would be anymore to these allegations through speech, she and a her husband, there could be potential hankie panky with the appearance of quid pro quo and deals to hurt her presidential? >> i don't i think a lot offing things that clinton foundation is doing is great for the world and with the gates foundation, i think when you look under the hood under 25 years you're going to see a lot of things that the media will twist and turn. at the end of the day. >> don't need to twist and turn to see a lot of same stuff right? >> listen, i think that, you know, there's a lot of he

andrew: you are michael bloomberg, and you are thinking it would be great if my employees got up andalked around more. no suggestions. you are able to track the data, and you can sell this to companies. you can see how active people are, do employees need to be getting up from their desks more, walking around. betty: instead of a lunch break, how about a fitness break. there you go, problem solved. drew: if you can get that down, it is a big deal. pimm: when will it price? drew: the ipo should price in the next few days. the $3 billion evaluation is at the high end of that. --k: $3.3 billion valuation wow. itvia: here is the thing -- is a startup company that is making money. that basically never happens. you can make money in a vc round, but not get to the growth phase where it is profitable. mark: what is making them successful? olivia: a lot of people want them. clearly, i do not wear one, but i worry about the fact they are going public at a time when the most successful, powerful tech companies in the world, apple and samsung, are getting more and more into the wearable technolo

michael bloomberg is running? number 17. lee: i have a very large position in dish. have had it for a long time. i am a very big fan of charlie ergen. him. a kick out of these 20-year-old analysts are trying to second-guess the guy. up to 20 billion. and the guymart doesn't write for the shareholder because he owns a big chunk of the company. betty: we sat down with charlie ergen after years of sitting -- after years of going after this man. i want you to listen to what he said about that. charlie: there are a lot of positives. they have done a fantastic job in being the upstart company. john's team has captured the imagination of the public in terms of attacking the pain points in the wireless industry. their network is similar to our spectrum. .t fits in that sense their growth rate is going to need more spectrum. lee: -- mario: there is no question they have acquired assets. in the world we are living in in , it is a of economy cheap stock. he spinning couldn't off his spectrum? and you see the stock climb? mario: he wants to use it. spectrum has no value if you h

. >> michael bloomberg was the drivewaying force behind the project.about it before his final term in city hall ended in 2013. >> you made this huge public investment in applied science. >> more than the federal government. >> if you want to have the future the time for investments is every day. >> in the wake of the financial crisis with the city reeling, they held a brainstorming session to come up with big ideas to improve the economy. focusing in on the fact that new york had many fewer engineers per capita than northern california. a competition would be held to make a high tech necka to make proposals for a new school. the school that one would get for free what they call half of an island in the middle of the east river. $100 million to pay for construction. >> we could offer a chance to be in the biggest city in america with the most exciting and diversified city in america. >> schools jumped at the opportunity. there were pictures from the heavy weights from university and chicago and stanfortd. >> thank you for this wonderful opportunity. >>

mark zuckerberg and michael bloomberg and ted turner. >> and you, too, when you make your first billionshave them. >>> 39 minutes past the hour. the war on isis intensifies. iraqis launching new attacks against the terrorists. are they working? we are live next. i'm caridee. i've had moderate to severe plaque psoriasis most of my life. but that hasn't stopped me from modeling. my doctor told me about stelara® it helps keep my skin clearer. with only 4 doses a year after 2 starter doses... ...stelara® helps me be in season. stelara® may lower your ability to fight infections and increase your risk of infections. some serious infections require hospitalization. before starting stelara® your doctor should test for tuberculosis. stelara® may increase your risk of cancer. always tell your doctor if you have any sign of infection have had cancer, or if you develop any new skin growths. do not take stelara® if you are allergic to stelara® or any of its ingredients. alert your doctor of new or worsening problems including headaches, seizures, confusion and vision problems. these may be signs of

he joins a list of 130 people including mark zuckerberg and former mayor michael bloomberg and george lucas and ted turner. if they all put their money together and think about how to give the money away -- they want to end disease and hunger. they take very big issues and want to put that money after it. interesting. i actually am not in their group. >> when you get there, i have no doubt you will join in. >>> the war against isis has intensified this morning. iraq launched new attacks against isis. is it working? we are live next. the beast was as long as the boat. for seven hours, we did battle. until i said... you will not beat... meeeeee!!! greg. what should i do with your fish? gary. just put it in the cooler. if you're a fisherman, you tell tales. it's what you do. if you want to save fifteen percent or more on car insurance you switch to geico. it's what you do. put the fish in the cooler! i'm caridee. i've had moderate to severe plaque psoriasis most of my life. but that hasn't stopped me from modeling. my doctor told me about stelara® it helps keep my skin clearer. with only

even qualify at 10th place as all things stand now, but i also want to remind you that when michael bloomberg was considering a run for mayor of this fine city of new york, some years back, he wasn't polling very well. but all that money, all that provided for a lot of ads and the constant in this city turned republican, turned independent, for mayor, and for a good three terms in a row, he was. so for those of you who are going to dismiss the real estate developer who says he's worth more than $9 billion, do so at your own perfectly. this is a man that is full of creditors and has risen from the ashes time and time again, pretty good trader and a man that calls it as it is. you may not like the way he calls it or how he's calling it or his ego, but be that as it may, he is in and this race is completely changed. blake berman on the trump plate. >> hi, neil, this was one thousand one, one thousand two liner after next. luxurious setting that we are in here at the trump tower, and talked about how nobody would be sweating. that was clearly a reference to rick perry's speech he said couldn't pl

you are michael bloomberg and mcknight your health insurance cost and thinking, wouldn't it be greatf my employees got up and walked around a little bit more? , no everybody a fitbit suggestions, and you are able to track their data and you could sell that the companies where they are talking about $20,000 for a dashboard and see how active people are. do your employees need to be getting up from their desks more, walking around? eating a salad bar? betty: here's my suggestion -- what about the fitness break and set up a lunch break? you go.ere a huge amount of expenses, if you can get that down, that is a big deal for companies. the ipo itself is going to price in a few days. to $16 a share. that $3.3 billion valuation is at the high end and they are expecting to get it right now. pimm: the bankers? drew: i can't remember off the top of my head. pimm: that's all right, we will find out. they probably have a fitbit waiting for you. betty: do you have one? drew: i don't. pimm: you have a competitor. stephen king has been called the king of creeps but he is also the king of cash. 400 m

what should happen, but the one thing that is frustrating on this issue is whether you have a michael bloombergstill to this day still spending money to advance gun control legislation or the former president of the na national rifle association who has said nothing, and the republican administration they were more open to background check, and you can't get the people in the same room, because it becomes a polarized political debate, and i am not sure it is appropriate to have this start of the conversation to today, given that people, nine people have been brutally gunned down, but it is inevitable that we will turn it here, and it is obvious that the president of the united states knowing the sensitivity of the moment made the conscious choice to raise it, and he knew that most of the country would be watching. >> i wondered if he would, or if he would talk about the dark history and the significance of that particular oldest black church in the south being targeted or if he would talk gun control the, and he did, he went there. and thank you, john king, for your insight. and the mayor of ne

i remember in the case of michael bloomberg when he ran for mayor, while well-known in the business community he was just an asterisk in the political polls until he flooded the airways with one commercial after another and wouldn't you know he won for mayor right after the 9/11 attacks and went on for three full terms. it is possible. on the presidential level, ross perot the billionaire had trouble with that. you couldn't buy your way to that big job. what makes you think trump could be different or how do you see this playing out? >> he i think, realizes he needs to make that connection with america. if you think back to the announcement today, it was at times assertive and at times rather aggressive. most importantly very ambitious for all of us as america to get back to what made this nation great and talk about what's happened in our local cityies in the last several years with regards to the economy and jobs moving overseas frankly you can identified with. i think that's where the votes go. they go with the identification of the candidate who knows what's going on in america. his acume

joining me is michael kay, bloomberg intelligence analyst. michael, good to see you.el: thanks for having me. wire we seeing a deal in the transportation sector, which is one area that has held up well with lower oil prices? michael: the answer is growth. partnershipsonal have grown, it has been hard to grow the distribution because of the incentive that they have with their general partners that have spurred a lot of m&a. alix: meaning they want to kick it back to the general partners. uphael: yes, and sometimes to 40% of what the payout is. sometimes that is impeding growth. that is what happened to williams when we insist that it to acquire the mlp. has goneerage ratio down, and that was part of the inference for the acquisition. alix: as they roll up their mlp, they will have better costs and more money due to their own and a day. why would they want to be pot -- to be bought? michael: that is why you saw been rejected. alix: but everyone has a price. michael: and williamson have to prove they can grow on a standalone basis better than with the equity transfer to

michael bloomberg writing yesterday on paris.that something can be done in paris. daniel: i think the momentum is there, and what you're going to do is get a little parallelism. today, president obama and president rousseff of brazil will announce a climate dialogue like president obama did with the chinese, so everybody's kind of working to get there in parallel, not with a master agreement but rather all countries. tom: maybe some humility has crept into the dialogue. what are you going to do on greece, matt miller? matt: obviously greece is first and foremost in our mind, but in the headlines as well. we will be talking to someone of the brookings institution about what he thinks the possibility are, that a no vote means it is over and they start issuing ious''s in drachma. tom: i have not seen anything that there will be a no vote. matt: i have not seen any predictions -- daniel: the question itself is very complicated. you need a masters in economics to understand it. vonnie: it will be basically a short yes or a short know,

michael bloomberg manus: -- i am francine lacqua. manus:breaking news on the state of the u.k.. provision -- we have seen a revision. the original estimate for plus .3%. sterling up 6% in this quarter. we are seeing a strong reading here from u.k. gdp. francine: let's have a look -- there you go. it goes higher. on our doorstep is the first country to leave the eurozone. they do not want to raise interest rates but they may have to do that. the pound going much higher if there is weakness in the eurozone. i'm glad i'm not a central banker. manus: that is all at play. francine: other top headlines, top diplomats meeting in vienna. u.s. and european officials claim progress is being made. they expect the path to an agreement to come within days. manus: china's central bank has taken further action -- the pboc has injected money into the markets. they lowered the lending rates on funds. interest rates cut over the weekend. francine: the german finance minister says greece will miss today's payment to the imf. some 12,000 per government them as traders gather and central athens. ale

service for jimmy, the gathering of the clan, i was there with betty liu and others of bloomberg, michael bloombergthis industry going to be around in five years or 10 years? are you going to be able to go to williams or go to brown and say hey, kid, you can be like jimmy, you can be like bill rhodes? william: no doubt there is a challenge to the shadow banking legislation,. frank and other versions of it, people are -- dodd-frank and other versions of it, the volker rule, banking has changed, but it will be there. we have to get back to the basics were culture counts -- tom: and community. william: exactly. i'm a cochair of the group of 30 where we are talking about culture and combat in the sense that the bank really has to go back to that idea where it if the customer comes first, the community must be served, and you must create trust within the community that banking is something that is positive. tom: can you do that in the world of derivatives and financial engineering? william: you have to do a because if you do not have the trust of the community, then the regulators and the politicians wi

neil: but your private foundation is a better job as bill gates, warren buffett, michael bloomberg. to shove, they would sooner take control of where they put the money. what does that tell you? >> it tells you they don't see the results. neil: john mack, thank you very much. good to see you again. we will have a lot more after this. ing as the thrill of the find. (announcer) at scottrade, we share your passion for trading. that's why we rebuilt scottrade elite from the ground up - including a proprietary momentum indicator that makes researching sectors and industries even easier. because at scottrade, our passion is to power yours. >> we are back here on "cavuto: coast-to-coast." connell mcshane. it has not been a very good day for the airlines at all. the dow jones transportation average have transportation average evidence were transportation average have been its worst in two and a half weeks because the airline stocks are heading lower. capacity concerns, worries about pricing as well. investors say a lot of concern about competition in the dallas area. american airlines in da

for instance, michael bloomberg, former mayor of new york here, a liberal elitist, made his money off other people of wall street, gave $80 million to the sierra club to get rid of these jobs, to get rid of coal. that is a tragedy. these people just want to work in honor and dignity. neil: no doubt. but the rap in their view, any of these above parties on the show, coal is dirty energy. it is cleaner than it used to be but it is still dirty and not worth time, expense or energy, play on words to find alternative. but your argument is, be careful what aou say, power as a lot of utilities and powers, hot tesla cars all the rage, right? you're saying be careful what you're condemning? >> coal costs, fired electricity costs 4 cents a kill water hour at the bus board. the wind and solar from the obama administration costs 22 cents a kilowatt an hour. gets a $24 subsidy from the taxpayer as well. we need low cost, affordable, reliable electricity. neil: coal is the -- >> it is. neil: saw the pope tomorrow, would you tell him that? >> i would tell the pope that you have been misguided, sir.

alix: we have an article by michael regan of bloomberg news who said the word to describe this market is touring. goldman sachs was looking at their sentiment indicator. it was between 30 and 64 a ninth straight week. scarlet: this will be the trend until labor day. alix: we are getting excited other places. if you look at what is going on with deutsche bank, shares not boring. co-ceos stepping down. deutsche bank shares up five and a quarter percent. that is you'd -- that is u.s. training. the dax and today correction. alix: germany's only major country in the euro area not in a cup -- not in recovery with the pmi. we are seeing action in the treasury market after that wild week last week. --rall urc in berkeley overall you are seeing berkeley saying this is a goodbye here. scarlet: a rebound in treasuries. let's look at the stories making headlines. apple changed the way people thought music with its itunes. now the company wants a lead role in streaming music. newe unveiled plans for its streaming service for its developers conference at san francisco. apple music will go head-to-h

you are talking about record lows in some stuff under bloomberg administration leadership of michael bloomberg and commissionerer kelly during that time tr leadership ask here is questioned he is the leader of the stoe is not backing the people who are actually watching our backs the cops. pretty unbelievably story great to have you on the show commissioner kelly joining us a colorado supreme court ruling that employees can be fired for smoking pot outside of work, straight ahead we will talk about why america's weed he friendly state is cracked down on its favorite herb you don't want to miss this the conversation on facebook tell us what you think what you would like to see to know the program put polites on get the latest updates on the program back in a minute stay with us. ♪ ♪ when i am in need -- yeah i got a woman way over town, thats good to me ♪ oh, yeah ♪ you drop 40 grand on a new set of wheels, then... wham! a minivan t-bones you. guess what: your insurance company will only give you 37-thousand to replace it. "depreciation" they claim. "how can my car depreciate before it's first

former new york city mayor michael bloomberg, for instance, has supported a nonprofit that has been politically active and he is one of the rare instances where you do see a multimillion dollar donations coming into one of these nonprofits on an fec filing. that is a pretty rare thing. in terms of the groups that are being active, the nonprofit entities do have certain benefits. they must adhere to whatever their tax exempt purpose is if they have tax exempt status, and that is one of the things that have been debated by the irs in terms of how these groups do or do not adhere to these rules. from time to time we have seen a couple of examples of the irs going after groups that may be politically active, meaning they did not qualify as a tax-exempt status but did advance the social wherefore -- welfare of the nation, which means they do not qualify as 501(c)(4) organizations. that is pretty rare, too. the tax court of 501(c)(3) organizations, whether that is the red cross or the center for public integrity when he donate that is a taxable donation for you as a donor, but when you donate to a 50

with michael bloomberg, elizabeth warren whether a heavyweight can come in and seriously challenge her>> running as a democrat? >> running as everything else. >> if he thought he could win, he could do it. but he's lived with that so long, i don't think he'd put himself out there, do you? what's he going to do he's not going to run for mayor of lond london. >> in the polls, if it ever flips, she would be in serious pain. >> one of the things you're seeing play out in american politics when there's huge dissatisfaction. the system brings up new ideas. that's why carver fail society miserably. they want to see the most unlikely candidate, round reagan in 1980. you're seeing the same process play out here. they want to move forward. i think it's very exciting. >> thank you. >> thank you. >> like our studio? >> love it. like becky more. >> okay. >> that's a good answer. >> >>, you too, joe. >> thank you. >>> the big money behind the triple crown. we're going to talk all about it. first right now, as we head to a break, take a look at this date back in history. e financial noise financial n

alix: we have an article by michael regan of bloomberg news who said the word to describe this market goldman sachs was looking at their sentiment indicator.

. >> dave michaels with bloomberg news. you noted during the crisis that mutual funds were not significant but you also talked about liquidity risk going forward and liquidity management. can you elaborate more on what you see, the specific kinds of funds you see as posing liquidity risk and then also you mentioned bond markets and that part of your talk. you could elaborate a little more on what your concern is about bond markets? >> so in relation to -- a lot of this, frankly, work we're doing is to reassure the financial stability board and markets that, you know the tools we have are appropriate. okay? and -- and if there is a need for change to identify it. so in the case of funds you know, as i said we're going to be looking at at the activities of funds and how they deal with you know liquidity mismatches and adjust and so i can't really predict what the outcome of that will be. but what is appropriate is obviously depending upon the structure of the fund and the way in which it's -- it may -- liquidity redemptions,

. >> michael bloomberg. >> bloomberg too. >> in this case i like knowing it.s not that they're saying you can't sell salty food. >> did you see president obama taking a step outside and he's reaching into a pack of something. it's not clear what it is but it said please -- please let the president have a smoke. please let him do it. it's not a big deal. let him -- that was the thrust of it. >> i'm looking at the picture now. >> but this is differ than not being able to sell sugary drinks over a certain size. >> he was smoking in his office. >> people smoked but i wouldn't want to be married to michelle and smoke i don't think. >> penelope would yell at you too. >> she would. >> i think it's a pack of gum. >> zoom in on it. it doesn't look like gum to me. >> no he's on a vestibule. >> outside on the balcony with a buddy -- >> but the buddy's not smoking either. >> not there. not in that picture. that's the question that the story has. it's not my story. i'm channelling it. don't shoot the messenger. >> a new episode of consumed on cnbc tonight. daniel races to

former new york city mayor michael bloomberg donating $100 million to cornell university to help buildechnology campus. the gift will be announced today. the ground breaking for cornell tech's new $2 billion home on roeflt roosevelt island. the school has been temporarily housed in chelsea. as a cornell alum i say thank you, mayor bloomberg. >> didn't like it when david -- or when john paulsen donated to harvard. >> no i'm very happy. gladwell had an issue with it. >> he had a total issue with donating to harvard. >> he did. i didn't. >> you didn't? this is good. i think this is good. >> philanthropy is a good thing. >> we agree. time to talk about the chicago cubs. it's going to be hard for me to wear this. does this stand for cincinnati the reds? >> cubs. and on the back is a cubbie. >> you're right. okay. we're all talking about the cubs. forbes says it's valued at $1.8 billion. our next guest has done well with that investment after buying the team in 2009. joining us now to talk about the baseball business tom ricketts chairman and owner of the chicago cubs. he's also chairman of

porter spoke earlier on bloomberg television. michaelthis is the biggest economic opportunity that america has for the foreseeable future. this is what is driving whatever little economic growth we have right now. we've got to work through a win-win pathway where we can get this economic benefit while dealing with these legitimate environment will issues. mark: a natural gas extraction project controlled by exxon mobil says it is not to blame for a recent rash of small earthquakes. officials told the state agency they believe this occurred naturally. hour, up in the next half the bank of korea policy makers cut interest rates to an unprecedented low as the spread of middle east respiratory syndrome threatens the economic recovery. a massive manhunt is underway in northern new york state for two convicted killers that escape from the maximum security prison. the number of escapees has fallen dramatically since 1983. the new issue of "bloomberg businessweek" is devoted to the issue of what is code. the american consumer missing in action f

dave: dave michaels with bloomberg news. you mentioned during the crisis that output with me to a funds were not significant, but you also talked about liquidity risks moving forward. could you elaborate a little more on what specific kinds of funds you see as posing a liquidity risk? and you mentioned bond markets in that part of your talk. could you elaborate a little bit more on what your concern is about bond market? greg: a lot of this work we are doing is reassure the financial stability board and markets and -- that the tools we have our are appropriate. and if there is a need to change, to identify it. as i said, we will be looking at the activities and funds and how they do with liquidity mismatches and adjust. i cannot predict the outcome but what is appropriate is dependent upon the structure of the fund and the redemption capabilities, for example, stressing it to see how it acts in a liquidity stress. and then just making sure that people are confident the system works, or would work in a stress scenario. and th

. >> dave michaels with bloomberg news. you noted during the crisis that mutual funds were not significant but you also talked about liquidity risk going forward, liquidity management. could you elaborate a little what you see, what specific funds you see as opposed to liquidity risk? and you mentioned bond markets in that part of your talk. could you elaborate a little bit more on what your concern is about bond markets? >> so in relation to -- a lot of this, frankly, work we're doing is to reassure the financial stability board and markets and the tools we have our appropriate. -- are appropriate. and if there is a need to change to identify it. so in the case of funds you know, we say we're going to be looking at the activities of funds and how they deal with liquidity mismatches and adjust. i cannot really preconduct what the outcome will be but depending upon the structure of the fund and the way which it -- liquidity redemption capabilities for example stressing how it acts in a liquidity stress, how it will look. and

bloomberg surveillance." tom: new zealand blanks. dairy prices are lower. they cut rates for the first time in four years. asia is astir as japan halts yen depreciation. china growth stumbles. a conversation with michaelrvard. american business must focus on the good of the commons. good morning, everyone. this is "bloomberg surveillance ." brendan greeley with me. any number of ways to go this morning. sort of a stew. brendan: i am fascinated by news from the active phones. watching the knock on effects of everybody following news of the new zealand rate effect. tom: south korea as well. they've all got the reasons. brendan: when tom starts the morning with the news she is really excited. tom: here's vonnie quinn. vonnie: more exciting news. greece is looking to buy more times with creditors. after late-night meetings with leaders of germany and france, a greek official says alexis tsipras once the bailout extended by nine months. tpm tsipras: it was a friendly, constructive discussion as always, and we expect to intensify our efforts to bridge the remaining gaps. vonnie: germany's chancellor's pressuring tsipras, angela merkel saying it is time for him to back up his words with action. 10 people hav

erik: i do want to point out, giving full credit to our colleague michael moore at bloomberg, he flagn in the first week of may. and now, there's absolutely nothing wrong with other people joining the party. but we were on it. stephanie: there we go. erik: i do think it is a fascinating move by goldman sachs. wall street has been if not emasculated defend the strata. it is not the same industry at once was. the are still smart people i goldman sachs. it says something about this industry that goldman has decided to go into online lending and match if you will a business for which a trial has been blazed by the shadow banking marketplace. stephanie: it also says something about goldman compared to other financial institutions that we have seen them in the past be the most nimble and the most forward thinking, putting themselves out there more than other behemoth institutions. tracy: can i still the pot on this? goldman was the lead banker on lendman's ipo. i know that their chinese walls that banks, but i would be annoyed if i was lending club and they were working on this ipo and gold

scarlet: joining me now is bloomberg economics editor michael mckee.ver we talk about the white house, the administration, and the dollar, seems to be the spoiler trait -- boilerplate that they always retreat to. that goes back to the clinton administration. if you get long-term movements in your trade -- in a currency, it affects your trade. company decided this was not good for the economy and so the country put in a policy of, we do not talk about it. markets are still very sensitive to the idea that some countries may intervene in currency markets, and if you get the president saying a dollar -- the dollar is a problem maybe they will do something about it. they react. not good for people on the other side of trading and not something the administration .ants to have happen her scarlet: they do not want to play such a pivotal role. the stronger dollar has hurt our trade balance. michael: it has. we have seen exports decline. it is a real problem for other countries when that happens, and they do not want to see a lot of volatility that will affect

let's go to the bloomberg terminal. michaelgan here is the payroll. 200,000. 200,000. the new normal. his outgoing is 75,000. vonnie: he talks about demographics and how that is how we will end up. it is a little bit depressing. global growth and u.s. growth will be stunted. it could be the new normal. tom: the basic idea here is technological process -- progress. you see the rollover of the transportation index which has come over recently. bob nardelli with us. are you a believer in the famed nardelli theory? if nardelli rolls over, that is not good? guest: that is not good. the transportation index, you talk about it as an early indicator we have seen it go down over the last couple of periods. coal has gone down. they tried to substitute that with oil. the energy thing has gone down. you look at automotive coal oil. a lot of indicators. tom: the bottom line is, when things get good. capacity comes on in auto. capacity in airline and trains. are we repeating history? guest: i think we could be. you look at the auto industry

stay with us with michael holland, from new york city. and from bavaria. "bloomberg" ♪ tom: good morning, everyone. "bloomberg surveillance." mr. greeley has the morning must-read. brendan: jing june the professor of economics rights "china's pursuit of a new economic order." brendan: michael holland is with us. i know you spent a lot of time. michael: i actually gave a class at fujian university -- at fudan university. brendan: should the renminbi be included? michael: it is in extra. -- it is inexorable. brendan: so the u.s. should not exercise that power? michael: who knows? it is such a mess with china and u.s. relations right now. however they want to play that game. brendan: what is the relationship going to be between the renminbi and the dollar in international trading? michael: it is quite clear that among the international aspirations of the chinese leadership, it will be a reserve currency. brendan: will we price the oil with the renminbi? michael: i think they are trying right now. there is nothing in the recent 20 years to show that we should doubt this.

michael for rowley of jpmorgan. good morning. ♪ . . >> this is "bloomberg surveillance." ows deutsche bank the "how to cut costs" playbook. 50,000 jobs will go. the rest of the industry may follow. america in the slow lane. in this hour with michael feroli of jpmorgan, we consider your slower economy. and in lockstep, markets correlate, which signals market south. good morning, everyone. this is "bloomberg surveillance." we are live from our will headquarters in new york tuesday, june 9. i'm tom keene. we will do a little ungreased too -- on greece too. brendan: you never know how to determine the chatter from the news. we are movement on the german side, a real evidence of a rift in the german coalition, which might move things forward. tom: right now, must watch, must listen. here is vonnie quinn. vonnie: sunday is a real deadline. greece taking another shot of unlocking those bailouts. prime minister elect's budget proposal to his creditors, one official tells bloomberg it is a rehash of earlier ones and is still not credible. the "wall street journal" says the could --

michael moore, thank you. much more ahead on the bloomberg market day. dinosaurs by the numbers. "jurassic world."h film in a franchise has arrived, but if you can't remember what happened in the first film, here is a refresher. dinosaurs are cool jurassic park is the best ♪ ♪ betty: welcome back to the bloomberg market day. "jurassic world" is ready to take over the box office. the movie is expected to take in $125 million this weekend all because we all love dinosaurs. how much do we love them? the numbers behind the jurassic franchise. >> 1993, russia alex force yeltsin president. david letterman lose to cbs. steven spielberg wows audiences with dinosaurs in "jurassic park." based on the book by michael creighton, it had three things going for it. dinosaurs, dinosaurs, and dinosaurs. the creatures remained a favorite for adults and kids and their history with will be pictures goes all the way back to 1913. although box office sales back then were sketchy, estimates were that "king kong" made $2 million. "jurassic park" arrived in theaters in 1993 and shattered the box office records with $93 mi

joining me now, joy reid national political correspondent for bloomberg politics, bill mattingly, and michael steele former chair of the rnc. joy, usa, a being amnesia. is there something meaningful to glean in this other than we forget what happens during a presidency and politics? >> americans pretty much got over everything they didn't like about george bush in 2004 and re-elected him. people around the world are like, what? are you kidding me? americans, yes, people are very forgetful. ex-president is like an ex-boyfriend or girlfriend. he's not doing anything to bother anyone. so people look back with this bush nostalgia. is it lingering and lasting? i think the only thing that matters for his legacy is how he's viewed by historians and that's still pretty dismal. >> i guess we're on the cusp of a presidential election. theoretically, people's views about whether or not they like a predecessor would inform how they vote and on iraq for example, the numbers are not particularly good for this white house. whose policies do you blame for the problems the u.s. currently faces in iraq. 43% sa

michael, i will make you stay with me. carl, thank you for being here. much more coming up on bloomberg market day. we will talk about apple, china, and the fed. ♪ alix: welcome back to bloomberg market day. now for a look at the top stories. sepp blatter says he will resign as president in the wake of a corruption scandal that has rocked fifa saying that it needs restructuring. the sports minister in russia says that they are not worried about losing the right to the 2018 world cup. coca-cola says that the resignation will help fifa reform. are expected to take place between september and march. sell in may and go away. managers who traded stocks, larry robbins had his stock jumped last month. einhorn's hedge fund also jumped. jpmorgan chase has a message for employees, don't leave a message at the town, there is no more voice now. they are eliminating a voicemail for employees as a push to cut $2 billion in annual expenses. jpmorgan says the alternative could be found in anyone's is at, since texting is -- key form of communication. heroesies turn big-box into money at the box office. in 2009, ca

michael chertoff. he joins us be a telephone. -- via telephone. and also bloombergs mike riley. by giving us any more details and what is been learned about the attack? mike: you had a disclosure yesterday that the breach of the office of personnel management was much larger than it had initially reported last year. the private and personal data of 4 million current and former government employees. they got just about everything. that is a huge number and this is a huge hit in terms of the security of government networks. the next iteration of that is that it appears that the same chinese hacking group that hit the office of personnel management is also responsible for a slew of hacks against health-care companies, health insurance companies, hospitals. it appears that china is gathering a huge database of personal information on government workers and others. everything from social security numbers to things like health records, which is a scary idea. pimm: michael chertoff, who is responsible for safeguarding these online identities and all of this information? michael: the en

michael wolff, thank you for joining us. motorola solutions, interesting work that you guys are doing. thank you so much. that does it for this edition of "bloomberg" do not miss my full interview on studio 1.0. ♪ fixes program is

michael wolff, thank you for joining us. motorola solutions, interesting work that you guys are doing. thank you so much. that does it for this edition of "bloomberg. do not miss my full interview on studio 1.0. we talk about washington. ♪ . . >> good evening and happy mardi gras. i'm bobby jindal. mark: have the mega seinfeld hulu day -- in our show about nothing clinton's bizarre volunteer and first, the summer of bobby. governor bobby jindal will announce

michael: i appreciate that. alix: thank you for joining us. chief market strategist at jones trading. good to talk to you. coming up on the bloomberg market day, chronic diseases are the leading cause of disability in the u.s. we discussed one company that takes advantage. ♪ alix: welcome back to the bloomberg market day. crossing the terminal at this hour. top level talks dealing with greece reportedly underway in berlin. the meetings designed to him out a proposal that would give greece is only realistic chances of avoiding default. present as a creditor institutions are meeting with the german chancellor and mario draghi. secretary of state john kerry is on his way home to boston from geneva to get treatment for his broken leg and on this what come on orthopedic surgeon and additional medical personnel. in france over the weekend that will limit his ability to travel. talks with iran entry crucial stretch. they want to curb the nuclear program in exchange, would ease to -- agree to ease economic sanctions. a lawsuit coming abercrombie & fitch illegally denied a job to a muslim teenager because she wore a headscarf. the rule of l

bloomberg market day. i am scarlet fu. pimm: i am pimm fox. exactly what counts when it comes to determining the best banking ceo? michael to answer that question and he joins us with that answer. tell us about that effort to whittle down the bank ceos into the best. you had to have some parameters because there are so many companies you could have chosen from. michael: there are a lot of banks and a lot of ways to look at it so we decided to do a bracket. scarlet: banking bracketology. michael: we took the 16 largest banks and then we took only the ones who have been in their jobs for the last three years. so they would have a track record. we excluded any of them that were state-owned. scarlet: no rbs, no chinese banks? michael: right. that is who we looked at. pimm: you look at things like, return on equity? stock performance? michael: we had a different measure for each round. the first was return on equity because that is the highest measure of profitability. scarlet: and that is what they get paid on also, right? michael: yes, they had some of their pay tied to these measures. the second one was relative stock perf

michael wolff, thank you for joining us. eduardo, motorola solutions, interesting work that you guys are doing. thank you so much. that does it for this edition of "bloomberg. do not miss my full interview on studio 1.0. also on bloomberg west, we talk about silicon valley and washington. ♪ announcer: from our studios in new york city, this is charlie rose. charlie: 21-year-old jordan's spieth made history on sunday night. he became the youngest player to win the u.s. open since 1923. he joins an elite group and is the youngest to win multiple majors before turning the ripe old age of 22. joining me now is the editor in chief of golf world and the senior writer of golf digest. he wrote this story for the july issue.

michael, you are sticking with me. what the global bond route is telling us about u.s. stocks. we will tell you more about that and what it means. ♪ alix: welcome back to the bloombergarket day. years of decisions over the world cup's location and who will get the broadcast rights were steered by bribes and kick ax. -- kickbacks. he and others on the executive committee agreed to accept bribes with south africa as the site of the 2010 world cup. he said the choice of the 1998 tournament in france also involve bribery. blazer pled guilty to 10 crimes. more than a dozen soccer officials and middlemen were charged with corruption at the highest level of the sport. an agency official reefed on the matter tells the sec has ruled cable providers including raise customer rates without approval from local governments. despite opposition from 5-0dcasters, the scc voted four taking over local packages. cable companies look to escape local rate regulation. there are concerns that ukraine is heading back into full-blown war. 15 people and a territory under their control were killed during a battle. the government and rebels have accuse each other of sparking the latest rounds o

your pentagon michael turner of the 10th district in ohio. with us, next. stay with us, bloomberg." ♪ tom: good morning. bloomberg "surveillance" from new york city. futures up 18. they have given back a little bit on greece headlines. vonnie: thank you. iran's parliaments might be putting a roadblock in the path to a nuclear deal. they voted to keep inspectors away from military sites and scientists. it would complicate talks with the u.s. and other world powers. negotiators want iran to promise not to build nuclear weapons. under their self-imposed deadline, they have eight days to make a deal. no takeover in the pipeline. the word from williams company. the company is rejecting a 48 early dollar offer from chelsea warren. the statement did not identify the bidder bloomberg news is learning it is warren's energy transfer equity. a wall street firm traded football tickets for information about shareholders. "usa today" says the case involves georgeson a former employee of another firm is accused of getting $1200 tickets to a new england patriots game in return for information. th

michael wolff when we continue. >> funding for charlie rose is provided by american express. additional funding provided >> 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: we begin this evening with the latest revelations of overseas spying by the national security agency, documents published by the web site wikileaks showed that the nsa eaves dropped on the president and senior leaders of france. the white house released a statement saying that there was currently no surveillance on the french president's conversations. francois hollande summoned the country's am was door to the united states and called two emergency meetings. the white house said that president obama spoke to his counterpart on the phone today. earlier the president also announced a change in the administration's policy regarding ransom payments for hostages. family members will to longer be prosecuted for attempting to pay cappers' ran some. >> i'm making it clear that our top priority is the safe and rapid re

bloomberg market day. olivia: markets are facing headwinds from abroad with uncertainty over greece and central banks. pimm: joining us now to make sense of all this is michael purvis. michael purvis. why should u.s. investors keep worrying about what happens to an economy that has 11 million people. michael: you are talking about greece. the u.s. markets have not been focused on it. the europeant of markets. if you look at the volatility levels, often they move in tandem. during the greece talks, european volatility went up quite significantly while the vix was going lower. any issues related to european a cody's were not being transferred into the u.s. equities. very different scenario today. it feels like all of your stocks of been moving sideways with choppy trading and low volatility. large-cap companies are blaming weaker earnings and cheap oil. with these threats priced in. michael: i think they are priced in. it has gone from severe moves against equity and they are kind of consolidating. if you look at the dx why chart dxy chart, everyone is looking at the u.s. dollar or everyone is looking at the euro. everyone was expecting a rush toward parity an