idea, thisk this ofk of kicking russia out the g8 and turning it into the g7, there is a kind of national pride putin has. i don't think he cares much about being shamed or lectured were being told he's being a bad guy. i think he has determined for russia to have great power status and influence. what i don't know is how much he really cares about his g-8 designation and roll. that may be one interesting avenue. i am skeptical that will be decided in this situation. think we can talk about profound consequences, but we have used rhetoric in regards to syria. putin has been supporting bashar al-assad for years now. administration officials, including kerry have denounced putin in the strongest terms, saying he's enabling the slaughter of civilians in syria and just doesn't seem to care. care enough about the g-8 role and his country's status and prestige in that regard to modify the behavior? maybe. i think he cares a great deal about crimea and ukraine and what happens there. one other thing when you talk about what we are willing to do change the behavior, you have to member we need put

what investors are going to be ofking at, what citizens china are going to look at, and what the world is going to look at is how this platform will be used to escalate these issues, not just rhetoric. what are the actual actions to come out of these meetings. that is what we will watch for. fast retailing is said to be in talks to buy u.s. loathing designer j.crew. fast retailing may face competition from other bidders. them expand help the global presence and give access to funds as it ways the public offering. shares falling 9/10 of one percent. warren buffett missed his target at berkshire hathaway for the first time while berkshire underperformed. he doesn't expect that to happen .gain berkshire posted results over the weekend. is innual meeting nebraska in may. microsoft's new boss has announced his first major decision. he is shaking up senior management in an effort to reignite growth. the man passed over for the ceo job is leaving microsoft. ukrainianction to uncertainty. at commoditiesg right now. today charts we have. look at where we are. 103.76. one dollar 30. gold $12. th

exit out ofk at the asset management, the holdings of non-core assets are things that did not feet -- did not fit with who we are and who we want to be. >> now that they have failed the latest stress tests, things could get more challenging. why do we ask a former fed bank examiner and top analyst what he thinks. we're talking about paul miller. he was on "market makers errico he was on "market makers" earlier. >> i have always said these banks are too big for anyone to manage. ti to takeo get ci more than a couple of years. >> bank of america is a broken bank and it passed. brian moynihan got approval to increase his dividend payment. it's going up to five cents from a penny. if we were to draw a contrast, bank of america is doing something better than citigroup. >> most of their problems are mortgage related. the acquisition of countrywide is really what heard that institution. that is something moynahan inherited and did not do himself. iti was put together over 20 years. >> 100 different companies. >> credit card portfolios and mexico. it's going to take a lot longer to work out a

know how it works. , ofk you, noah buhayar bloomberg news.ere are our top headlines -- the european central bank cut rates unchanged. that ensured economic output and inflation had gotten stronger. the threat of deflation had many speculating the rate would be cut. earnings andted forecast that fell short of estimates. they announced they are closing up to 225 stores. this staples ceo says with nearly half of sales generated online, the company is taking aggressive actions to meet the need of customers and improving efficiency. stco posting a 15% decline in quarterly profits. the company said discounts were meant to attract holiday shoppers and back cut into sales. still ahead, we go behind closed doors in one of the world's most secretive markets and show you $30 million worth of copper just hanging out in a giant warehouse. also, cities have been cracking down on de-cigarettes. ew -- you cigarettes -- -cigarettes. we will talk to one of the biggest makers. stay "in the loop." ♪ >> you are watching "in the loop ," live on bloomberg televisio

at levels ofk 2008. that is really that. back to you.r, we are talking about tech with the cofounder of wikipedia. that is coming up in a few minutes time. pulse. is later in the it can follow us on twitter. there are some great ratings on twitter. drovele of days ago he with a formula one driver. ♪ >> bottleneck to "the pulse." we're live from bloomberg's european headquarters in london. >> these are the top headlines. >> india's navy has set up a search zone for the missing malaysian airliner. this is hundreds of miles off the course of the flight. evidence mounts that the plane may have flown longer after it lost contact. the search area covers the 5000 square kilometers. hong kong's monetary authority says trade has. the central bank says the findings are the result of an investigation that lasted more than a year. internal chat 100 messages containing change requests by several ubs traders. john kerry is in london today. he is meeting with the russian foreign minister in a last-ditch attempt over the crimean vote on sunday. they're

news -- >> in non-ukraine is, a rare miss for warren buffett, the measure of berkshire hathaway, much ofk has risen as the s&p 500 is the first time they missed on their five-year target dating back to 1965. after ringing up record earnings last year, he says he will be looking to do more deals this year in the u.s. the microsoft new ceo is shuffling management. he has promoted mark penn to fulfill the new role of chief strategy officer. he is a former political strategist to work on the hillary clinton presidential bid. skype is also with microsoft. american express debuts its first no see credit card. -fee credit card. they want to broaden its customer base. we have breaking news out oftyco. unitll sell itself korean for 1.93 billion units. to get the week started and there will be a financial effect. it will revise its eps forecast because of this deal. it now sees second-quarter earnings per share when you back out some items, or 89-40 one cents per share on the deal. >> did you sleep last night? >> barely. and 15 minutesur of the oscars and i learned the hard way that you don't watch

all ofk you for inviting us here to have this conversation. i do think conversations are important.'m going to answer that quickly with a very short historical story that was triggered by an event a couple months ago where the digital pioneers thomas the folks at the fcc when i started their 100 years ago, were being honored for their foresight at the time they were developing policies when the internet was starting. powell and bill snark, both of whom i work for, thathis wonderful approach was to stand back, let this new thing breathe and grow, and the way bill put it was, the high-tech hippocratic oath. first do no harm. then michael talks about the wings for some event and they talked about the term "digital restraint." heartook very close to the need to keep an eye on things, but to step back and let this thing grow and evolve, and they concluded that this approach was much as it was when bill pointed in 1999. you do not know when -- where things are going to go. that approach, which is in contrast with a lot of the european countries has served in terms ofy well investment and

data issues from the perspective of someone in the trenches as a litigator dealing with the bodies ofks against company data, aggregations of company data. we get called in. it is at a moment where companies are faced with challenges of dealing with the reality of finding out what has happened, what exact data is an issue. there are regulatory inquiries, it class action complaints, towns or party complaint and obligations. there is extreme pressure to act very quickly and to do it right. it is very challenging and interesting task that we have gone through a number of times. my introductory comments on this is that in the litigation whicht, which riley is -- were i live analysis all starts with injury. if any information about an individual is taken or exposed or lost, of course we will say "what is the injury?" the recent clapper decisions involving a challenge to pfizer camesions and surveillance at this in march of this year. the supreme court makes clear that in the federal courts we're not talking about a risk of injury. we are not talking about the possibility of misuse. not even

brownback ofked kansas. he could have an exciting legislative term just as scott walker did. back in 2011. that could put him up front. other than that, i do not see a governor that would work within that would do the kind of a mage and back you say i know the six guys a really just think of a but look at the new kit and -- new kid. >> there was a poll that came out at the end of last week that looked at some trends among millennial's. it found a couple of things that i think pertains to this conversation. not, like tohey do identify with labels over the independent, most of them voted for obama. the ba percent of nonwhite millennial said of the it'snment that it is responsibility to provide health care. 71% said they want a bigger government with more services. these are slight majorities, filibuster proof majorities. does the republican party have a serious demographic disadvantage moving forward in the next 20 years? what is the best way to think about this? >> you need to look at demographics in two different ways. democrats look at graphics like race, ethnicity, and gend

levels ofked at the security at our last points of departure airports. it tends to vary. that is of concern to me. -- and i have heard the concerns of have been raised. i believe preclearance is a homeland security imperative. at thehings be improved point of arrival, or in the abu dhabi situation in particular? i'm not going to insist that we are doing it the best way. it is a work in progress. >> the determination to instead of going to dubai, going to abu dhabi did not make sense to me, if that was policy. >> abu dhabi is not an endpoint. this is a point along the way in a progression to where we should get to a more aviation security environment for this country. >> may i close my questioning on this. what are we going to do as we as more resources over there american citizens flying in all over the world are seeing extended delays simply getting through. you're already down in the resources you need to do the work. why are we sending personnel overseas during a time when you were understaffed at our own border? >> in general, the more we can , last forward areas poin

that was written by the cia director to senator feinstein, she informed the cia and send a a copy ofkingor this panetta review document. said theser documents were not supposed be accessible by those staff. he went to see her about the fact that the staff apparently had these documents and is close to her that the cia had in fact what was supposed to be this restricted, segregated computer network that was supposed to be accessible only by this staff. we found out that the staff, because of concerns that the cia in the past had in fact destroyed evidence connected to the interrogation program, the staff decided to print out these documents that the cia said they should never have had. and took them up to their secure spaces up on capitol hill. was actuallying raging behind the scenes in terms of a power struggle between the senate committee and the cia over the senate committee's oversight role and powers. we published the findings last week. host: why is this just coming to light now? there has been lots of back-and-forth behind the scenes here it nobody has disclosed to reporters or th