let's have a little more detail on the nokia numbers for you. nokia, the operating margin 1.5%.he primary focus for nokia network is the market declining by 1%-3% this year. that is your guidance for nokia. an upgrade on the guidance for roche. networks -- expects the network business to improve in the second half. from tech and phones and handsets, that's the performance on nokia, the challenge there. the market penciled in 963.30 5 billion yuan for hyundai. a nice level for them coming through. upgrade.an hyundai deliver their numbers, a quick indicator, the litmus test for risk this morning. they smiled, shook hands, and greeted each other with warmth. i'm talking about another theing at the white house, state is set for release that they didn't see a ratcheting up of tensions. a little bit of helpful relief. asian markets are higher. there is that europe and the u.s. might be evident move toward zero tariffs. we've seen this rerun of a .ewrite of a rerun when it comes to nasdaq futures, this is a key focus for you. $151 billion, exxon lost $53 billion in 2008. an annihilatio

you probably know the vast majority of the world's the smartphones are made in asia ten years ago nokia closed its last mobile phone factory here in germany but now production has returned to the country thanks to industry four point zero and a domestic manufacturer that could be defused of made in germany. it looks like just another regular smartphone and doesn't post any state of the art frills that's reflected in the price tag of google sets g.s. white five model a comparatively modest one hundred seventy nine euros. the munich based manufacturer has a high degree of automation which more than compensates for the high labor costs in germany. smartphone makers in asia are largely rely on manual production and we've managed to establish a major cost advantage by having seventy percent of production robots there like resolution cost enables us to deliver a low cost product cost. so far the company has one domestic production line in the western german town of behold the facility assembles up to six thousand smartphones a week thanks to industry four point zero humans and robots work sid

we did have a voting booth question and the arm of nokia. has a has a national i do these companies that watches the f.t.c. . bought what do you not support the use of the knowledge in the stuff so i'm several villages in the s. and i will have been giving when i was ten and told to be doing a meditating what the median of the statement actually will is you get a medical emergency not not an avi it is also a positive that each is under control of the city. not the state so what you did not is that these people did. it in the last i was just with one of the regina questions. of the so that by the second it is obvious is the need of the one who does live with you not ready to do. so is not the glue that made it even indeed like i was watching the show and they did die well. indeed it is a good movie that did a lot of the problem and he didn't leave a good movie that might have been finalized on the. oscars that maybe the semi was positive or out of what did you have thought of that. bring us the very latest from beirut in syria thank you very

the four simple the phone the nokia the pick the tools of even the old you that i mean take it with the pull off the last thing. she told mother not a lot of fun i must make just swallow what i thought was mistrustful a sentimental sleep over someone. going to let love be the door to the appeal. and score so say look good luck of the new york was doritos it's got three months he told us. they need to start off campus in about three years to prison or safeway the all in the city thought oh hum oh see i'm la masia. i'll be stunted. a month as but i can be with your kids on my lease who from which. to move in this town. to boss me in the. last years does he has of us what she she doesn't include the people most of congress are going up what i mean. entirely. that avatar. in the middle part of our. lives of it after that of. others here can and does that mean that i have. been on set when says little a pre-made year like that i mean there. was a thorough. that was done. in no nickel gal like it. was then in the middle but i eat when the thing though must compress. most mothers when up as a

fiat-chrysler bouncing back 4% after getting crushed yesterday. , nokia withide earnings down 6%.eo of shell in a few minutes time. stay with us. about what happened in the united states yesterday. facebook, plunging as much as 24% in extended trading after second quarter sales fell short. revenue growth would decline in the third and fourth quarters this year. joining us now from hong kong is our asia tech reporter. expecting such a although theion, call really showed a lot of disappointment from analysts. >> that is right. the numbers are still aggressive for any kind of tech company. people were not too worried. but they were really worried expectationsevenue and the profit expectations for the next two quarters. the company said, we expect this to go down in the next two quarters. investors were not prepared. t: we are looking at a bunch of numbers. daily active users and monthly active users are light. what were the bright spots? >> the real bright spot is with instagram. faster thang facebook and provides an avenue for facebook to say, we can show something for our growth. t

david: right before you left, you tried to buy and it ultimately, the nokia acquisition.an effort to get into smartphones. why do you think it didn't work out? steve: i think there were two reasons. number one, maybe it was late. left, the, after i company went ahead and bought it, but i don't think there was the same level of enthusiasm at the board level and management level for scaling up and investing in it. david: ok. so you ultimately decided to leave. your successor was session at successor was -- steve: he was the recommendation i made. i thought he was the candidate to replace me, which is why we moved him into running one of the big divisions. i'm glad he got the job, because he has done a great job. david: you dramatically increase sales while you were there, and earnings were higher. the stock price did not go up. not a you think there was correlation between stock price, earnings, and revenue. steve: two factors. number one, i took over at the worst time if you want your stock price to go up. i came in at the heart of the dot-com bubble. everything was sky hi

is keen to promote a successful business run by black entrepreneurs two sisters took a seat on a nokia to live and put a set up a company three years ago called cake world the a and c's move towards a more hard line position is the cause of great concern to them. they're worried about the future of the country's economy and the potential impact on all businesses here. who's going to want to buy a property now when you know they behave by now each time i think we need that fifty in twenty days money so people know that if you buy any team of people between aren't companies closing down you know because i mean people said they buy houses in south africa i like cape town cape town is one of the most beautiful places you know i know people around the world have has this be so if i get a call i mean it's an easy. moving you i'd be really angry so i don't think it was. a parliamentary committee has until the end of august to review possible changes to the constitution only then can a decision be taken i'm ceasing land from white farmers here at the bakery they're hoping around a poster will

if they thought they poisoned by the nokia i think i did i kind of got to see much more book up this book it is a few today they're showing what they can do most are just starting out on their careers. things like you know but as a source gastronomy schools are very expensive and present that's all i live in a poor neighborhood at the edge of so polo so i. can't afford it but gastro t.v. helps us poor people and has helped make it an education for their spouses most cutting. their whipping up quite a spread out of rejects prata use that's been deemed not good enough for a top notch establishment some of the vegetables are getting a bit soft. we're wasting as well so that became part of my year my boy and you know like i cannot waste one tomato and we brought this to our educational program so now food waste to fight food waste it's essential for us when we train kids gastro multi-verse students learn how to make the most of the materials they work with for many it probably makes intuitive sense not to waste food. here we have. leftovers off yellow pepper you can see there is only. th

david: right before you left, you tried to buy and it -- and ultimately, they completed the nokia acquisition an effort to get into smartphones. that didn't work out. why do you think it didn't work out? steve: i think there were two reasons. number one, maybe it was late. number two, after i left, the company went ahead and bought it, i don't think there was the same level of enthusiasm at the board level and management level for scaling up and investing in it. david: ok. so you ultimately decided to leave. and your successor is satya nadella. were you surprised when he was selected? 2 steve: no/ . he was the recommendation i made. i thought he was the candidate to replace me, which is why we moved him into running one of the big divisions. i'm glad he got the job, because he has done a great job. david: when you were there, you dramatically increased sales and earnings were higher. the stock price did not go up. why do you think there was not a correlation between stock price, earnings, and revenue? steve: two factors. number one, i took over at the worst time if you want your stock price t

david: right before he left, you try to buy, and i think before he left they completed the nokia acquisition didn't work out. why do you think? steve: i think they were probably two reasons. number one, maybe it was late. number two, after i left, while the company went ahead and bought it, i don't think there was the same level of enthusiasm at the board level in management level for scaling up and investing. david: you ultimately decided to leave. your successor, we surprised when he was selected? steve: no. he was the recommendation i made. he was a recommendation bill gates made. thought he was a candidate to replace me which is why we moved him into his last job which was running one of the big divisions. and was glad he got the job because he is than a great job. steve ballmer there, former ceo of microsoft, now owner of the l.a. clippers with david rubenstein. watch the full interview wednesday at 9:00 p.m. eastern. , opening up the android market. what is the eu decision against google mean for its competitors, smart phone makers and the android platform? bloomberg tech is streaming

david: right before you left, you tried to buy and ultimately they completed the nokia trent -- acquisition was an effort to get into smartphones, and it didn't work out. why do you think it didn't work out? steve: number one, maybe it was late. number two, after i left, the company went ahead and bought it, i don't think there was the same level of enthusiasm at the board level and management level for scalin ug up and investing there. david: you ultimately decided to leave. your successor is satya nadella. were you surprised when he was selected? steve: no, he was the recommendation that i made. he was the recommendation that bill gates made. i thought he was a candidate to replace me, which is why we moved him into his last job, which was running one of the big decisions -- divisions. i was that he got the job. he's done a great job. emily: steve ballmer, former ceo of microsoft, now owner of the l.a. clippers, with david rubenstein. watch the full interview wednesday at 9:00 p.m. eastern. next, opening up the android market. what does the eu decision against google mean for its competit

nokia has won an agreement to build fifth generation mobile networks in the united states.ing up, investors and analysts betting against tesla earnings on wednesday. we'll look at what might be bringing the company down. and bloomberg tech is livestreaming on twitter. follow us on twitter. this is bloomberg. ♪ emily: despite the electric car maker meeting its production goals, goldman says customer enthusiasm may be a winning. the reason -- order availability has increased as well as test drives and they're not the only ones sounding the alarm. this. >> elon miss must is a very, -- musk is a very very, smart man but there are very smart people in this world anding you have to execute. he's got execution problems. we'll see how his quarter goes. but he's negative cash flow, he's building cars in a tent. owes -- he's nowhere near autonomous driving and big competition is coming in his space yecks year -- next year. emily: joining me to discuss rom colorado and new york. first, lay it all out for us. the bulls and the bears. what people are saying right now. >> so the big thin

nokia is completely gone, largely because of theft of intellectual property.y know full well that china is the real threat. >> so isn't the president's -- approach the right thing, given what you're just saying? >> no. just the opposite. in fact, we need to stick with our -- i'm sorry, our european allies, those in the eu, to challenge china. we can do that through the wto. when we take cases to the wto, we win about 90% of them. but if we split with our friends and our allies, then we'll not be able to confront the real problem here, and that is china in terms of trade. so that's what -- nobody in europe can understand why in the world the president would pick fights with his allies here with those who need to be with us when we confront china. >> senator jeff flake, thank you so much for joining me. appreciate it. >> thank you. >>> and still ahead, the supreme court. president trump is planning to announce his pick tomorrow to fill a crucial high court vacancy, and i'll speak with the democratic senator who may just turn out to be a surprise swing vote. orma

set the platform -- in the platform we worked on it and put arms control into the defense sector, nokia foreign affairs section. if you read the guidance on arms control and the platform and all the president's speech is, it was always an issue of defense. you can't do arms control without securing or providing for the common defense. that was way behind. very much to pleated, very weak weak becausevery of the procrastination of the carter administration who would cut back major programs, especially strategic modernization. israel called out by the president. -- these were all called up of the president. arms control was not treated at the beginning as a major separate issue. it was treated -- the first regarding the administration ad, visible in march of 1981, few months into his inauguration plussing up the defense budget. 17 percent increase in the budget and specifically funding the programs that carter had cut. the missile programs. the bomber programs. implying, and that became especially to ron, that the framework of arms control that mr. carter had and specifically the assault t

name, the strength in earnings, the strengthen in revenue you could take apple's name out and put nokiae for 2007 or ream in there -- >> they could just sell people higher priced phones and people will turn in theirole phones and turn in higher prices for two ones and the company which is already ginormous can grow revenue by 17% >> if the phone replacement cycle is two years, and it is with apple you're not going to hold onto your user base if you're declining 5% a year and the business model we sell on that end and hold onto those users isn't defensible and you saw that with rem. they were also far and away the most successful in what we consider basically an apple light model before apple showed up i'm not saying apple's doomed to rim's fate because therlz no strong other oem like apple was when they introduced it. i'm saying it's very clear in the last three years the core business in apple has stagnated and tim cook has to figure out a way to change that he won't be able to just chase the high end it's not going to work >> angela, what's to, what's th for you on the call in. >> the

francine: let me also get into nokia. when you look at some of the casualties, $200 billion in tariffs, how much would it impact u.s. retailers? hurt theprobably christmas shopping season. >> right. the way we look at it from an equity standpoint and a retail standpoint is, this is protectionism, and those tariffs are a risk to our otherwise strong outlook for u.s. equities. the consumer has really shown strength over the past few months and it is a testimony of the strength of the economy. constructivevery on the u.s. economy driven by the consumer, but also investment. we are very much looking forward to those earnings results and we will get to hear more about the companies. getting too worried in terms of what impact on gdp unless there is further escalation. right now we don't think the impact will be material. carmakersjames, u.s. could be caught in the crossfire. how do you view the situation? >> carmakers are probably one of the sectors that stand to lose the most. they are a powerful political lobby. they will no

nokia tried to take the turmoil, but facebook outdid them on the negative, down 24% earlier, 17% right been talking with the james bevan about, they still have huge revenue growth, but less than what the street was looking for. but also a real expense adjustment higher, where the profitability test really clicks in and facebook is down 17%. looking at a busy week of earnings. why don't we glean information on european earnings. here it is. >> it is the growth dividend in line with the underlying earnings. it also said, as you stated, that the scope for share buybacks is emerging based on a strong environment and of the development of port polio -- of portfolio. >> after working capital, it is a strong quarter. 2014, whennce q1, oil price was above $100. this was a $12.4 billion operations quarter, so that is a very important component in our confidence to start the buyback program. >> we have announced the dividend policy. and we always look at the options that we have available to us. we are continuing to get debt down and we expect will continue to drop over the next 18 months, so th

is now naming nokia for its supplier in 5g network gear concrete evidence that a new wireless upgradele is under way in april t. mobile agreed to a merger with sprint. i should say that's the subject of my column this week i came out and i hate to say i'm wrong, but when the deal was first struck, i had a bift of the kn the knee jerk response everybody else did these have not been approved by regulators there should be a red flag the idea of going from 4% to 3% would create more problems, not less i would say i spent too much time poring through the testimony, the exists who testified, and other information submitted, and now i went back in this column and said i revisited this, and i have come up with the opposite view. >> so if the merger were allowed -- >> at least in the short-term, by default, it would create more competition. i can't promise the long-term. in the short-term, the idea of going from 4 to 3 kracreates a e stronger market. at&t and verizon is serving effectively wealthy customers and business customers if you ever wanted a third player that could compete, this would