how are they taking on elon musk?oth companies, spacex and oneweb, are in this game to what you can call a space internet. basically today, there are about 3 billion people that cannot be reached by fiber-optic cables so they want the same internet that the rest of us enjoy. these companies are racing to provide this. oneweb started out very much preaching this do-gooder type mission, of bringing the internet to people who don't have it. they tend to be in pretty poor and remote locations. oneweb has found out the service is very expensive to build, so some of the first customers they are talking about going after now is actually delivering high-speed internet to planes, cars, boats, and people that can afford to pay for this service when they are in a remote location. spacex and oneweb are racing after the same thing, and a couple of other companies are doing this. emily: who is going to get there first? ashlee: spacex set up a couple of satellites last year. test satellites for its system. it is unclear right now ho

that's how elon musk's other big company space x. came to be it's a private spaceflight company something that was once almost inconceivable and even less affordable space x. he took a small fortune and turned it into a large fortune so he inverted the paradigm. space x. now regularly shoots satellites into space. the tests are also good advertising for tesla. to cut costs must work covers the missiles which is new but his vision goes much further we need to be a multi planetary species it is our manifest destiny at this point to have a sustainable ongoing. colony or civilization off planet and then if you look at the planets in our soil solar system there is literally one that makes sense and that's mars. but musk has great plans on earth to the hyperloop is a high speed traffic network of tubes based on the same principle as the pneumatic tube in this case the pods will be self powered. musk has already had students from all over the world working on them most from germany. there is a lot of activity here at munich technical univer

musk on the defense. he claims that sec has violated his constitutional right to greece feedback coming down on his tweets. plus i'm a boeing facing a global crisis as more governments around the world ground is best-selling 737 max jet after a second deadly crash. and our exclusive and wide-ranging conversation with former u.k. prime minister tony blair, weighing in on brexit, big tech, and calls to break up silicon valley's biggest players. tesla ceo elon musk is defending a pair of tweets he sent last month. in february he tweeted that the electric carmaker would make about 500,000 cars this year. a few hours later he revised that tweet saying i'm a meant to say annualized production rate probably around 500,000, i.e. 10,000 cars per week. delivery still estimated to be about 400,000. judge holding him in contempt. -- he said he has to manically decreased his tweeting so as not to get into unnecessary disputes with the sec. joining us is craig, who covers the company for us. his team filed a 140 page r

meant absolutely nothing to musk as it was never implemented.ame thing with the company. she already fined him $20 million. he barely noticed. she can't trust the attorneys involved to rain him in. the process was never invoked. they could be in big trouble themselves she can't trust tesla's board to do anything. they seem to be asleep at the self-driving wheel that means judge nathan can only trust herself. three choices. only three choices because elon musk just won't stop firing offer tweets she can remove him from the ceo job. he can't mislead investors if he is no longer speaking for tesla. he can't control himself she can make it criminal and sentence him to prison that's a hard call but to be honest he's begging her to throw the book at him or install a special master to control him. i can't see any other way out of this because musk's attack on the judiciary, not the s.e.c., the judiciary is so egregious and i got to tell you unless you think tesla will do better with musk gannon of these are that great for shareholders if you want tesla

elon musk's crazy busy weekend both in space and on earth. and avoiding an avalanche of risk. what to invest in to do that. less than an hour to the closing bell. let's start the "countdown." liz: the terrifying sound of a warning before a powerful tornado swept through alabama, leaving this and 23 people dead. the weather service says the ef-4 twister's wind speeds hit 170 miles per hour. one county sheriff saying it looked as if someone had taken a blade and just scraped the ground. officials are expecting the death toll to rise as the search for survivors continues. let's get to the markets. >>> stocks are sharply lower on a pretty volatile trading day but still off session lows of more than 400 points for the dow. the dow's swing today, guess what it's been, 544 points. that's the biggest intraday move since early january. wall street's fear gauge, the vix index, volatility index, is at its highest level since february 14th. it is popping nearly 11%. much higher earlier when we were down 400 points but right now, we stand at 15.05. while the vix does pop, let's look at at

elon musk is launching a new model three at a lower base price of $35,000.he news first broke in the electric car blog after elon musk teased some mysterious news on twitter. california,00 p.m., tesla news. now we know what it's all about. tesla is holding an event at this hour where we presume they will announce this officially. tesla halted new car orders on its website. to discuss, we have gene munster on the phone in minneapolis, and in detroit, we have our bloomberg automotive reporter, keith. keith, what do we know so far? keith: going with a lower price model three with a shorter range gives you on the opportunity to meet these ambitious sales volume targets. they're planning to produce 400,000 model threes this year. that's a lot of model threes and you can't sell them all at over $50,000. having a lower price model three should bring in new customers, value customers. the average price of a car in the u.s. is $37,000 so this makes it a joe average kind of tesla for the first time. emily: gene, hasn't tesla promised that the price would eventually co

how the decision could impact musk's claim over the electric carmaker next.berg. ♪ ♪ emily: the elon musk-fcc battle -- sec battle continues. a new judge was asked whether the tesla ceo violated his agreement without holding a hearing. the sec is holding elon musk be held in condemned -- in contempt after a production forecast they claimed -- as required by the settlement. elon musk defended his twitter use, saying the sec relies on radical interpretation of the order. joining us to discuss, max chafkin. the story continues to develop very what is the latest as of today? max: the latest is the sec has responded to elon musk saying the judge should offer a hearing on this and decide whether or not this tweet from february that elon musk put out without the assistance of his twitter sitter -- this is the person who is in theory responsible for vetting tweets from the ceo of tesla to make sure they don't contain any material information, whether that tweet was ok. musk said it was ok based on the fact it echoed something tesla had already put out and didn't move

>> that's the thing, tesla is elon musk. tesla depends on him as this chief visionary, chief marketer role. so the worry among even some tesla investors has been, if the sec does kick elon musk out the door, how does tesla fair? do they end up being a worse company than when it began. they are caught in the middle of this battle over whether he is too destructive to keep, or is he to necessary to abandon? i think that's going to be what is playing out as this heads to the court. >> i think there's a third angle two, that's cash, money, right? we're talking about investors. what are you hearing about?>> that's interesting because investors have always backed elon musk, because he is so pivotal to making the company famous. but even some of the top investors have said, we are sick of the surprises, we are sick of the rude awakenings and the bad tweets, maybe it is time for either elon musk to take a different toll that's not ceo, mimi ab some visionary role or maybe have a board of directors actually do their job and keep him

>> you hope not if you are sitting in elon musk's shoes.ery good at getting people excited about the new products. you can imagine a situation where people are about to pull the trigger on the model 3. they see this amazing launch of the model y and they say, hang on, wait. i would not be surprised if the model y launch tries to keep expectations tamped down compared to previous tesla launches. emily: good to see when per -- you in person. thank you all. all right. still ahead, oscar-winner brie larson taking heat and online trolls take her down over her "captain marvel" role. disney was prepared. ♪ amazon is ending its experiment with electronics focused pop-up stores. the plan to shut 87 kiosks across the u.s. they're expected to be completed by the end of april. online trolls have turned their iron on the upcoming " captain marvel" film and its female star, brie larson. disney was ready for them. one line of attack was that she was not strong enough to play one of the most powerful characters, the studio and the actress posted workouts o

we have seen elon musk do this basically throughout his career.unching the model 3, they did it with the robots. you can look at this as either a grant bet or another case where tesla is over complicating things or increasing the level of difficulty in a way that will make certain investors a little scared. emily: $35,000 is still a lot of money for a lot of people. if you look at any add-on, you can get up to $60,000 plus. are people going to buy tesla just because it is a tesla? sandy: i believe they are. the one thing i have learned about that car and elon musk is this is not a car company, it is a cult. quite frankly, elon musk attracts people in a way that no one -- in fact, all you have to do is think which car executive would anyone on the street know except for him? certainly, he's got that going for him. quite frankly, he's got hidden plans, just like he did when he turned the seat heaters on on the back of the car or modify the braking when consumer reports gave him some static. he will pull some rabbits out of his sleeve. i don't think

we've got a new report on elon musk.: so you may remember when musk falsely claimed on twitter that investors had put up funds to take tesla private, resulting in an sec lawsuit. carol: in "bloomberg businessweek" this weekend, you can read about musk's plot to allegedly take down a whistleblower at a tesla gigafactory. jason: and why the sec forced tesla to appoint him a "twitter-sitter." here's zeke faux. zeke: the gigafactory is tesla's giant battery factory. it is in an industrial park in reno. it is in the middle of nowhere and is one of the biggest buildings in the world. we spoke to some whistleblowers who worked there, who had some crazy stories about what went on. carol: such as? zeke: this all started last june 4. this story appeared in "business insider," and it said there are huge amounts of waste, that there were wasted parts piled up high all over the factory, and tesla was perhaps using damaged batteries in its cars. from reading the story, it was clear there was some sort of whistleblower who had gone to

elon musk battling out with the sec. all of that coming up.omberg. ♪ emily: apples streaming vision, the introduced one star after another to announce their plans to win over their content -- your content dollars. reese witherspoon, steven spielberg and big bird. outside of apple only content it will tap into hbo and showtime. , we have a principal analyst at creative strategies in new york -- in cupertino. in new york we have an analyst. and we have lucas shaw. what surprised you about the offering? >> the level of star power. other tech companies, they start with media or streaming or hat -- and have to prove themselves. most people already know and love hollywood. oprah winfrey, jj abrams, some people who will not work with netflix. information and details. we don't know how much it will cost. we don't know how they will roll out shows, what devices they are on. there is a lot to figure out. even tim cook got starstruck when he was thinking oprah for showing up -- he was thanking oprah for showing up. -- timh impact will this cook reduction

first off, what do you make of this battle between elon musk and the s.e.c.?er one of them have a legit case? >> i mean, if there's one thing you can say about musk, if political reporters scour the tweets of the president for news, that's what financial reporters do when it comes to elon musk because he makes a lot of news whether he wants to or not through his impulsive, almost obsessive use of twitter. it cost him the chairmanship going back to last year, and now is his title as ceo, he jeopardizes it every time he butts heads with the s.e.c. i mean, he clearly thought he didn't break the material agreement on tweets when he talked about production, but in a sense, he just keeps pushing it to the edge and kind of tempting fate. i think if you get in a showdown with the s.e.c., look what happened to him earlier. he continues to do that, i think the results are going to be largely the same and they're not going to be good for him and his company. lauren: it cost him and his company money, not only the $40 million that was paid out, but also these lawsuits tha

is blasting elan musk for a series of tweets that he sent last month it says that musk is in blatent

we've got a new report on elon musk.you may remember his false claim about taking it test taking tesla private, resulting in an sec lawsuit. carol: this weekend, you can read about his plot to allegedly take down a whistleblower at a text -- tesla giga factory. jason: and why the sec forced tesla to a point in a "twitter-sitter." >> the giga factory is tesla's giant battery factory. it is in an industrial park in reno. it is in the middle of nowhere and is one of the biggest buildings in the world. we spoke to some whistleblowers who worked there and had crazy stories about what went on. carol: such as? >> so it all started last june 4. the story appeared in "business insider" and said there are huge amounts of waste, that there are highd parts piled up around the factory, and that tesla was perhaps using damaged batteries in its cars. from reading the story, it was clear there was some sort of whistleblower who had gone to "business insider." the story was, there are so many crazy things going on with tesla, people move

so elon musk good morning.ave to go to good morning.- so elon musk does not necessarily have to go to court but that court date is set for the fourth of april. tell us more about this because this is a man who does not want to have, he calls it the nanny tweeting scenario. there are some new places to go on this. first of all on the hearing, both sides, both the sec and elon musk‘s lawyer argued that there was no reason for the hearing, so i think this is keeping it in the news and the consciousness, oi’ keeping it in the news and the consciousness, or at least in the business and tapers, probably for no good. thejudge should be business and tapers, probably for no good. the judge should be able to rule, do not know if she isjust looking forward to a day of hearing it all argued, but it does come down to whether or not he was knowingly, potentially, moving markets with this tweet. he and his lawyers say that he was simply reiterating something you'd set on a previous call made five days earlier, saying that it

coming up, we peel back allegations against elon musk.s is bloomberg. ♪ ♪ caroline: now to bloomberg's businessweek new report on elon musk. he has falsely claimed on twitter that investors have put up funds to take tesla private and that led to a lawsuit. in bloomberg's businessweek, you can read about all of the other goings-on that musk has been up to. appointedc has been -- appointed him a twitter sitter. it is an extraordinary story. the whistleblower at one point saying that the drugs were going tory, and hegafac almost had a vendetta on his back from that moment. are actually three different whistleblowers, two of whom are interviewed in this story and the third is the subject. the engineer that you mentioned at a top. lastthe clock back to summer. all of these news items coming out and this was first reported by business insider about safety issues at the giga factory. butas not that big a story, as we report, it sent musk and tesla security operations into a frenzy. to this would be whistleblower, this person who claims he was a

zeke: rights, but elon musk was not ready to move on.s angry that anyone would leave, and he hired a special team of operatives to track down the leaker. jason: i want to talk about the operatives because as i read the story, it takes a little bit of a left turn, and you start to talk about uber. zeke: uber had been intelligence team, and one of the members of the team blew the whistle on uber, and he said his colleagues were spying on people, reporting rival executives's conversations, hacking into their databases. he later took some back, but there was enough that the ceo apologized and the head lawyer said uber employees, stop following people around. members of this team, several sued the whistleblower for defaming them, saying it would make it hard for them to get a job. but it didn't. as soon as this came out they got jobs at tesla. jason: most people read this and said, oh, my gosh, this is really bad behavior, but elon musk thought "those are my guys." zeke: they have identified the leaker. his name is martin trip. he is basicall

elon musk says buy a tesla online.se many of their stories in exchange for low prices. david: welcome to "bloomberg daybreak." i'm fascinated by this tesla announcement. they are cutting the price and would make any money in the first quarter. they are going online because they think it is a better way to sell cars or saving costs. alix: saving costs. david: then the question is will they be able to sell as many cars. alix: i understand why you want to have lower prices for the model 3. why do you cut them 6% for your other cars? david: that was a great question to dan ives. issue. they do have an alix: that payment is coming today. we will be discussing tesla throughout the next hour. you are seeing a relief rally underway. manufacturing data out of china doing pretty well. that's where the pboc and government had been targeting in terms of any stimulus. that is flowing through to europe and the u.s. euro-dollar flat on the day, weaker inflation and now, the euro losing a bit of steam. yields up by two basis points, t

says that musk is in contempt of court. elan musk disagrees. >>> shares of canada-based marijuana maker tilray is soaring. the company doubling sales from just a year ago. the ceo says the company is now looking to the u.s. for its next leg of growth. >> we finished the year with about $500 million in cash on hand, and we'll continue to invest right now canada certainly is important, but when we look globally, the united states and europe are a magnitude more important larger and so we're looking to aggressively deploy capital in the u.s. and europe >>> right now tilray in the green. up almost 2.5% dom, over to you wrrks. >> thank you, frank, for those now let's turn to the wall street agenda. it's another big day the fed kicks off a two-day policy meeting we get factory orders at 8:30 a.m. eastern time, and on the earnings front we get results today from chinese tech giant xiaomi and fedex here in the united states. >>> well, we are just getting started here on worldwide exchange coming up next, the big brexit battle theresa may dealt another

. >> musk bets on the midsize suv.hares falling premarket >> and big tech driving the market to new 2019 highs what is behind the resurgent faang rally this year? >> stocks on track to open high we are the tech sector on pace for the best week of the year heading into today's session the dow and the s&p 4% away from the all time closing highs the nasdaq almost 6% away. week to date, guys, the dow is up 260 points, despite a 334 point drag from boeing >> yeah. boeing, what we looked it up, worst week in about two years. down 11% but the strength continues and, you know there is no major explanation or catalyst given for this week's big move, the tech trade is back but generally the 2019 comeback story for the market has been pinned on a few key factors, which continue to drive this market the fed's major policy pivot toward a pause, stimulus from other central banks including europe and china, the fact that there is increasing momentum toward a u.s./china trade deal and that there is low expectations for earnings and ec

we've got a new report on elon musk.--ay may you may remember his false claim about taking it private, resulting in a lawsuit. carol: you can read about his alleged plot to take down a whistleblower. jason: and why the sec forced tesla to a point in a "twitt er-sitter." >> the giga factory is there a giant tests -- battery factory. it is a middle of nowhere and is one of the biggest buildings in the world. we spoke to some whistleblowers to work there and had crazy stories about what went on. carol: such as? >> it all started last june 4. the story appeared in business insider and said there are huge amounts of waste, that there are wasted parts piled high around the factory. that tesla was perhaps using damaged batteries. from reading the story, it was clear there was some sort of whistleblower who had gone to business insider. there are some many crazy things going on with tesla, people moved on right away. carol: another day, another crazy story in tesla. >> writes, but what -- right, but what we found out was that el

the sec is ramping up its fight to get elon musk to pump the brakes on his tweets.anley is saying investors should temper expectations of profits in china. guest are here to talk about it. tell us what is happening in china. there have been model threes held up at customs. >> it is hard to say how serious to take this but it is a labeling issue where labels were there were labels not in chinese language. it all makes me think back to a few weeks ago when our san francisco reporter did a story about how tesla was in the midst of a mad rush to get as many cars over to china as it could. they were worried about the idea that the trade war could ratchet back up and the tariffs could go get asthey wanted to many cars there as they could. it seems that they missed some steps along the way or were a little sloppy. >> you don't think it is tesla becoming a victim of the trade war? >> i don't think so. that remains to be seen. you mentioned the morgan stanley report. i think it is interesting that everyone has thought china is the biggest auto market and the biggest ev marke

musk's double-edged sword. tesla delivers on its promise of a new model three, but shares dip as the ceo says the company will not post a profit this quarter. matt: take a look at where we stand right now as far as futures are concerned. we are looking at gains on the back of the kai-shek pmi data out of china and optimism maybe from the white house that we could get a trade deal with china. hasourse, that optimism been bouncing around the markets and should already be priced in, you would expect. 1% futures up two thirds of right now. ftse futures up about 4/10 of 1%. what do you see, anna? in chinasee that story and a whole host of china themes boosting equity sessions. the chinese market is up strongly, but it clearly does not stand out in the gmm. the hong kong market reflecting optimism around china. whether it is the data you look at or the talk of a trade deal with the united states, although be looking ahead to the national people's congress and what they can deliver on growth in stimulus. all of that h

wants to hold musk in contempt of court.ency of censorship and violating musk's first amendment rights. let's discuss this with attorney misty maris and usa today reporter nathan baumy. is this all about the tweet in question which was sent february said we're going to make 500,000 vehicles in 2019, is it about that tweet or is it about something more? >> yeah, it is. this is about whether elon musk is adhering to the settlement which requires him to get approval for any tweets that have a material impact on the company, meaning if a tweet is going to probably move the company's stock, he needs to get tesla to sign off. they've already acknowledged that that tweet was not approved by tesla lawyers and so the he question now is was the tweet material, was it significant enough to actually move the stock and so they're debating that in court. lauren: mis misty, wasn't that information he sent out in the tweet already in the company's earnings and other filings? >> yes, and that's the argument that his lawyers have made. look,

emily: elon musk has in the past pushback on numbers, saying that they are wrong. do you believe this are a?estimates of sales >> we continue to believe that accounts, tracking -- i think it is tracking slightly below expectations, but nonetheless, i think most investors looking at as as the trough quarter tradition to what we will see in europe and china. i do think the bark is a little worse than the bite here in terms of what we see from demand. i think production has been pretty steady and i think demand will ramp up in march, but remember, europe is the key to one q and so far, it has been pretty smooth. the stock has had a lot of the punches we have seen over the past few weeks. emily: tesla is updating its charger networks with the goal of cutting wait times in half. of course, you have competitors ramping up their rollouts this year with their own infrastructures. what impact will doubling down on the supercharger network have ? their competitive energy has been the supercharger network and that is something they do need to double down on, especially with t

>> musk has backed this judge into a corner.judge either has to get rid of him, or say that the s.e.c. is wrong she will not side with the s.e.c. because it is really her. musk made a fool of judge nathan judge nathan, who -- says she is a -- an obama appointee who stands for the bench and he's saying, you're a clown, your honor, we do whatever we want. one thing amazing, he's saying in his brief, hey, listen, i reserve the right to say whatever i want and if i get it wrong, i'll correct it the s.e.c. is saying there is 25 million followers taking action on this. more importantly, your honor, you told him he has to get preapproval. he doesn't care. the whole process is corrupt the board is a sham. his lawyers are a sham she should hold his lawyers in contempt. >> you're siding with the bench here >> i'm pro federal court i don't even know what to -- he really said, judge nathan, you know what, you're just part of them, i don't like process, i'm above the law, if i want to tweet right now that it is fake news, what you're doing,

it on musk starts spacex, and another millionaire promises to foot the bill. million award for reaching the holy grail, a reasonable man to space vehicle. -- in 2004,he went he wins the prize. richard branson buys the rights, turns it into virgin galactic, and starts accepting commercial reservations for future suborbital flights. >> although we are seeing a lot of billionaires have interest in spaceflights, their investments pale in comparison to government investments. they have now managed to partner with u.s. government agencies. nasa is spacex's primary customer. >> but there are setbacks. >> local companies missions for massive -- nasa explodes. >> deadly crash involving virgin galactic's two. >> as you can see there, it exploded. in 2015, blue origin's new shepherd market -- rocket becomes the first to take off and land successfully. shortly after, spacex goes further, spending alpha nine to orbit altitude. >> the other major milestone will be the first tourists on suborbital vehicles. i'm not going to predict who's going to be there first. but the hope

elon musk needs a win. how will he secure it? party for a product that will not be available for months in front of it crowd of fans. joining us now, an analyst from wedbush and our reporter who covers tesla for us. even so, there are a lot of fans and consumers out there who are excited about the model y. >> people are going to l.a. in droves. everyone is super excited. people are like, "elon, let me give you my money!" emily: do you have any answers to those questions you can >> in terms of what we will see today, i think they will definitely take the hand. our initial stab is about 10,000 units would be the reservation you could see for model y, which will not get produced until q2 2020. we see this as a potential game changer. you talked about musk needing a win. we think this has the product, pricing, and some of the specs. can this be the silver bullet of growth that is definitely needed in terms of the tax credit coming off in the u.s. emily: jen munster predicted the price would be around 39 thousand dollars, which is far

musk tells they won't make any money in q1. we'll get into all of this when "power lunch" returns. >> the latest from tradingnation.cnbc.com and a word from our sponsor. >> position size and risk reward ratio are two important aspects of building a winning trade. you don't want a single position to be too big a percentage of tradeable assets additional, make sure there's enough profit potential to justify the risk you're taking consistently constructing suitable trades and adhering to your exit plan can help you build on trading successes i'm sue herera here's your cnbc news update at this hour. the parents of otto warmbier, said kim jong-un and his evil regime responsible for their son's death. rebuking president trump who said he takes kim at his word that kim was unaware of the alleged treatment of warmbier. donald trump jr.'s defending his father's actions did not mention otto warmbier to the conservative political action conference in maryland. >> sometimes you have to walk away and that's what people don't understand oh m

here is a quote from musk attorneys, undeterred and perhaps embarrassed by musk by it, sec to order inn i constitutional manner. tesla anticipated production level for 2019, musk original message on twitter, tesla made zero cars in 2011 but will make around 500,000 in 2019, sometime later, hours later in-house lawyer helped him clarify that message saying i meant to say that annualize production at 2019 was probably around 500,000, ie10000 cars a week, deliveries estimated to be around 400,000. the issue at hand, tesla and its ceo, his attorney says did comply with the oversight policy by reviewing his tweet, providing context and clarity, the lawyer told musk repeated information in earnings call and tesla included in 2018 annual report. the judge has to decide whether he's in contempt but i'm sure that the lawyers have told elon musk stop calling the sec the short seller enrichment committee, short seller enrichment commission and he hammered the sec in the interview of 60 minutes at tend of the year, again, this is like a petty little fight between musk and sec, maybe cooler heads w

versus elon musk take two the government taking the tesla ceo to task saying musk hasn't gotten approvalss like he's supposed to >>> and the congressman versus the social network twitter sued by a gop lawmaker who thinks his voice is being stifled online the final hour of "squawk box" begins right now ♪ >>> live from the most powerful city in the world, new york, this is "squawk box. >> good morning and welcome back to "squawk box" here on cnbc live from the nasdaq market site in times square. i'm joe kernen along with becky quick and melissa lee. andrew is off today and the futures are -- they've been up triple digits. they've been up 125, 130 now they're up 113 or so on the dow. the s&p up 12.5 points indicated and the nasdaq indicated up 33.5 treasury yields were back up to 2.6% on the 10-year earlier today. 2.6% exactly yesterday i hadn't thought of resurgent inflation and boockvar was talking about that we're seeing so much that could actually be good because the long end, we know the short end is going to stay where it is not seeing any of it though. but a steeper yield curve will

i think elon musk's problem is elon musk himself. going on joe ro rogan's show dit help either. of the space race. his problem is not building products. his problem is manufacturing products. he promises 500 this year but that's not enough cash flow. i wouldn't be a buyer of this stock. >> ultimately it will be up to his board and shareholders for how long he stays. i feel bad being critical of him because i think he's one of the most of innovative geniuses of our time. he should be in a position where he's harnessing that creativity for the betterment of everybody. he has only a matter of time until they put in new leadership. he cannot hold on to legal counsel. the problem he has is he should be the chief visionary. as you stated, they had production line issues and competition on their heels. the latest launch did not go well and the stock has been going down. he should be quiet and focus on the company. that's leading shareholders to see what's going on here. >> tesla's stock is up 30% on the high. he's a rock star, but i'm not sure he should be a public company ceo because

elon musk delivers on the promise of a cheaper model three.s on the current state. the question becomes, can central banks inflate? francine: this is "bloomberg surveillance." i'm francine lacqua in london. tom keene in new york. we are closing off on a little bit of a positive note on better-than-expected data out of china. of course, we will get geopolitics. we were just looking at pictures of kim jong-un leaving hanoi. tom: the seismic change yesterday in the united states was a better than good fourth quarter. ancient gd port with yields really moving up -- gdp report with yields moving up despite resistance. francine: let's get to the first word news in new york city. here's viviana hurtado. viviana: president trump and aina's xi jinping could sign deal in a mid-march summit. the administration is still deciding whether to press china to make more concessions. north korean leader kim jong-un is vowing to meet with president trump again despite the collapse of their summit. the country's official news agency releasing a more optimistic rep

elon musk has hit back at us regulators over their contempt proceedings against the tesla boss.ming that the electric carmaker would produce around half a million vehicles this year — complied with tesla's communication policy for senior executives. the securities and exchange commission has said the tweet was in breach of a deal under which mr musk requires prior approval before sharing company information on social media. french prosecutors are reported to have launched a preliminary inquiry into how former renault chief carlos ghosn financed his 2016 wedding party at the palace of versailles. the french carmaker last month said an internal probe had found evidence that it had footed some of the bill but the chateau had waived the usual $56,000 fee under a sponsorship deal signed a few months earlier. has the inventor of the world wide web has warned that global action is needed to tackle its "downward plunge to a dysfunctional future". speaking exclusively to the bbc on the 30th anniversary of the first proposalfor the web sir tim berners lee said people realised how their da

one part of it, this is musk fulfilling one of his promises.he first announced the , that was his statement that yes, we are going to be a real car company in that we make cars anyone can afford. any car buyer can buy. we won't just make super luxury models for people want a next her car. detractors said there is no way you can make this kind of car at that price. now, he says he is going to do it, so that is backing up one of the long-held promises of the company so it does help him build some credibility and he needs that these days given his history of tweaking all manner of things and not being able to come through with it. on the other side, you have to say this is a lower-priced vehicle in a market that is supposed to be overwhelming demand. the question is supposed to have been, can they make cars fast enough to meet demand? they have this huge backlog they are trying to meet. to, the shift has focused lower in price, which usually happens when you are trying to stimulate demand. this does have analysts questioning what is the demand for

emily: gene, you have choice tweet.bout musk's latest he said he is reckless.ow concerned are you that these issues will continue to affect his leadership and possibly the company? gene: concerned. and i want to make it clear that i am a believer in the tesla and a believer in elon musk. nonetheless, i was at one point ago hopeful he , could change. unfortunately, he is not going to change and will continue to do reckless things on the edges. i just hope that this recklessness does not impact the business, because the company has a wonderful mission and they are in a great place to change the world. emily: the former ceo of pepsi is now the newest member of amazon's board. nooyi will also serve on the board's audit committee according to a regulatory filing. she becomes the fifth woman on the e-commerce giants 11 person board. -- giant's 11 person board. faster, they promised to increase the diversity on their board. she served as the ceo of pepsi from 2006 until 2018. still ahead, michael cohen accuses trump of criminal conduct in office in a hotly contested h

tracee: elon musk says he expects this model y to outsell all of the others., the model x and model 3 combined. he has high expectations for this. he says that the model y has the functionality of an suv but rides like a sports car. it can go from 0 to 60 in 3.5 seconds, got a 300-mile range, seats seven people. there's different price ranges, $39,000, $47,000, $51,000. the long range model y available starting in fall of 2020. the standard range starting in 2021. investors i think are concerned. what's this going to mean for the model 3? is this going to cut into sales there. elon musk said during the presentation that the company will allocate all resources to the model 3 production or, quote, we're going to die. but we're seeing shares in the premarket, tesla down more than 2%. cheryl: they had so many production problems over the last year and also he's got to i would think be careful about his estimate, what he says and whether it's in a tweet or whatever, because he's got the s.e.c. all over him right now. lauren: they're using the same platform as the m

fires back at elon musk want a mojito? there's a keurig machine for that and the decline of the chicken nugget it's all ahead in "rapid fire. servicenow put our workflows in the cloud. this changes everything. you're right sir... everything. no not everything, i mean you're still blatantly sucking up to me gary. brilliantly observed, sir. always three steps ahead. six steps ahead. sixteen. so many steps. you done? a million steps ahead. servicenow. works for you. sometimes, they just drop in. obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances. ♪ >>> welcome back let's catch you up on a few stories that should be on your radar. it's time for "rapid fire" and julia boorstin is in the house, dom chu as well, morgan brennan. great to have everyone julie, this is straight serving it right up for you, because the big story of the day is that netflix ceo reed hastings says they will not all

elone never far from an musk a story.me it is about his response in court to his recent tweets. >> elon musk is in court over allegations that he should be held in contempt of court. to say waswyer had that the tweets that he made only reiterated previous disclosures already made. himselfn musk said for was that the posts were not improper. he cited his right to free speech. that he has made numerous attempts to comply with the restrictions. and he has been tweeting a lot less. ironic, in the last hour, he has been out on twitter tweeting back and forth and talkingnt users about store closures and price increases at tesla. what he said about store closures was that they were discussed with the board and the reason sales managers may not have known about the store closures -- remember employees -- he said itd would have resulted in lakes. interesting. no decision yet in the case. ceo has beenoogle in hot water because the lawsuit alleges that he bypassed the board to allocate stock grants. what happened there? >> there was

the sec says musk was in "blatant violation of a previous settlement agreement." on february 19th the embattled ceo tweeted that the company would build around 500,000 cars this year. he later changed that number to 400,000. the ongoing battle is part of the sec's latest move to try and hold musk in contempt. meanwhile the electric car company is asking its employees to volunteer to deliver 30,000 cars by the end of the quarter. according to a report by business insider, an internal e- mail was sent friday urging workers to sign up for delivery. in january the company announced it's buying an auto hauling trucking company. musk acknowledged tesla's delivery troubles in the past. >>> ride share giant lyft is one step closer to going public. in a filing submitted today, the companied it would put more than 30 million shares up to sale for 52 to $68 per share. that could push the ride share market's value to about $25 billion. the ipo is expected by the end of the month. >>> tonight state lawmakers are taking a skeptical look at standardized tests like the s.a.t.s, e

is it a risky or smart move on behalf of elon musk? >> we think it's really smart. we have been selling cars online for five years and customers used to have to do everything in an offline environment. now they can actually do everything they would normally do in a traditional dealership online and we are able to process the sale, we are able to create financing, customers can trade in their car if they like, then we deliver the car directly to their driveway. customers love the experience. liz: i know, they do. you are doing rather well. you say you have seen some real heat when it comes to sales lately. can you give us a sense of who's buying online? sight unseen, no test driving? >> yeah, sure. great question. we are seeing the entire market come online, right? i have been doing this for quite some time. i have been in e-commerce as you know -- liz: used to run priceline and booking.com. >> exactly right. i have been watching this evolution and all products are ultimately moving online. it's a natural progression to see cars be kind of the next product to move on

which would make elon musk proud. (catherine) a bay area politician is spearheading the effort to save net neutrality... but does it stand a chance in washington? we'll take a closer look... after the break. tuition payment, sent off. feeling good? oh yeah. now i'm ready to focus on my project. ♪ ♪ this is why we plan. ♪ ♪ you never cease to amaze me, maya. see how investing with a j.p. morgan advisor can help you. visit your local chase branch. (catherine) house speaker nancy pelosi... again making the case for a free and open internet in washington today. (catherine) at issue... restoring obaba-era net neutrality....which the trump administration repealed.. (pam) grant lodes joins us now with more on the legislation that was introduced today on capitol hill. (grant)net neutrality.it's a simple concept.simple... because the bill introduced today... is only two pages long.speaker pelosi.. along with senate minority leader chuck schumer... introduced the bill.it's all about ke

and i want to make it clear that i am a believer in the tesla and elon musk story.onetheless, i was at one point hopeful he could change. unfortunately, he is not going to change and will continue to do reckless things. i just hope that this recklessness does not impact the business, because the company has a wonderful mission and they are in a great place to change the world. emily: the former ceo of pepsi is now the newest member of amazon's board. they will also serve on the board's audit committee according to a regulatory filing. she becomes the fifth woman on the e-commerce giants 11 person board. faster, they promised to increase the diversity on their board. she served as the ceo of pepsi from 2006 until 2018. still ahead, michael cohen accuses trump of criminal conduct in office in a hotly contested house hearing. what we heard about the hacked national -- democratic units. huawei pokes fun at u.s. intelligence. we discussed next. this is bloomberg. ♪ --ly: atp -- at&t has done beat back the trump administration's attempts to roll back their merger. court m