oliver: i am oliver renick. one day trader who loves wearing a wire for the fbi. creator hasert strange and controversial viewpoints. carol: the shockingly bad safety record for auto-parts makers in the south. oliver: all that ahead on "bloomberg businessweek". ♪ we are with the editor in chief megan murphy. you look at china, specifically an economist who is trying to shut light on the chinese economy. story about ana economist who ran into trouble with the authorities and 2012 because he did a study on inequality and found that was higher than economists had forecast and was visited by several members of the administration at the time. what he is trying to do is do this complicated survey of china's wealth, and particularly china's people's wealth. estate,they have real what their farms are like, what the agricultural productivity is like in order to generate wealth. china, a huge swath of the hastry is agrarian and not caught up with that development. someone who has faced opposition in his past is looking at what we need to pair back and give the truth about. o

oliver: i am oliver renick. carol: trump force one ready for takeoff. domino's does some soul-searching and comes up with a new recipe for success. oliver: all that ahead on "bloomberg businessweek." ♪ carol: we are with the editor in chief megan murphy. you guys look at korea. there is a lot going on in south and north korea. megan: we have seen the ouster of the first female president, president park. we have seen a corruption scandal, particularly samsung electronics. in north korea, we've face a new wave of concern in terms of what will happen to them internationally, what their places with china flexing their muscles. with that this nuclear threat and with this playing out with the new trump administration, it is all eyes on china and the u.s. and how they will grapple with the north korean threat moving forward. oliver: it is interesting that one piece of this puzzle that is coming undone is the stability in south korea. you talk about the ouster of the president. that is a region that has been a middle gro

oliver: and i am oliver renick. l: the white house and the justice department are hiring more than a dozen lawyers, one place. oliver: we talk to a reporter about the law firm. >> an extraordinary number of lawyers are taking prestigious positions in the trump administration, both the white house and the justice department. and while it is not unusual for the white house counsel to bring a couple, three subordinates with him, this is an unusual number coming from one law firm. carol: how many are coming? >> 14 so far, and since trump is still staffing up, that number could grow. carol: what do we know about jones day? >> jones day is an old firm with its roots in cleveland, but now has more than 2500 lawyers and 44 offices in 19 countries around the world. it has become one of the biggest and largest law firms, not only in terms of personnel, but also in terms of its revenues. it has $1.9 billion in revenues in its most recent accountings. oliver: tell us what these roles are going to be. >> the two most prominent ro

i am oliver renick. carol: i am carol massar. isten to us on the radio. in new york, boston, washington, d.c., and the bay area. in the focus on retirement section, why you may want to think twice before putting extra cash into your ira or 401(k). >> last year i paid off my student debt and was celebrating and reading a book by a guy called "the value of debt." he is somebody i have talked to before for other stories. he's a financial adviser in chicago. i was surprised by the advice he was giving me in the book, so i asked him about it. the takeaway i had was that i was doing it wrong. i was putting a lot of money into my retirement accounts instead of putting more of my money in cash. his whole idea is that we need liquidity as we move through our careers. his main argument and what i read about in businessweek is that so many people end up locking up their money, pay down their mortgage, put their money in an ira or 401(k) and instead of having that cash available when there is an emergency, when there is an emergency, they pan

oliver: i am oliver renick. carol: can a ceo lead the u.s. state department? the odds for and against rex tillerson's success. and how did one of the most liberal and welcoming places in europe become a hotbed for anti-globalization? oliver: all that ahead on "bloomberg businessweek." ♪ carol: we are here with editor-in-chief megan murphy. you take a look at rex tillerson. can a ceo do the job? megan: what it is talking about is he is facing a different set of challenges. he is facing a state department that was upended. he was cut out of the loop on a travel ban for people from seven predominantly muslim countries. it is an unprecedented situation. so while he is bringing in ceo management techniques, his reception in foggy bottom has been quite positive. the challenge is not what we would expect it. the challenge is getting traction in the administration for a type of leadership style and development of america's foreign-policy. he is still building out his own structure and face time within the administration.

i am oliver renick. inside theng to from magazine's headquarters in new york. managing threats from north korea and how smugglers are bringing gold into miami and how technology is changing big tobacco into looking more like silicon valley. all of that ahead on "bloomberg businessweek". ♪ carol: we are here with editor in chief megan murphy. you look at the strain between china and south korea. megan: this, and's cooperation with the u.s. building the th aad, a shield designed to prevent a north korean missile attack. china, who is sensitive about border issues, sees it as a security threat and has urged its population to stop traveling to korea. for some areas, that was a huge part of their markets and is having a devastating effect on tourism and business is hit by china's approach. oliver: tell us about that tourism. there are some interesting examples of what chinese tourists do in korea. megan: it is a strange market where people go, karaoke, specific outlets catering to this market of chinese touris

i am oliver renick.et's turn to the topic of socially responsible investing. we are joined by jerry dodson, the ceo of poor nasa's investments. his fund has produced 13% annual returns over the past decade, beating the s&p 500 index. jerry, thanks for joining. let's talk about environmentally and governance-minded investing. tell us how for you those qualities of a company translate into returns for investors. my opinion, if you take those into account, it gives you an advantage. for example, if you treat your employees well, they will be more productive. if you are environmentally responsible, you are less likely you will be fined or have a .awsuit we think these aspects come in and in the final analysis, it really does help the return of the fund. oliver: now, i guess what i am -- what we are trying to figure out here is it seems like there is a real possibility the companies that are the most aware in terms of their corporate governance, in terms of social responsibility, those are also going to be th

i'm oliver renick. scarlet: and i'm scarlet fu. welcome to bloomberg markets. we are live at bloomberg world headquarters in new york for the next hour and we will be covering stories of detroit, washington, and athens. here are the top stories we're covering -- one hour left in the trading day and stocks are rebounding. the dow is on track for its first positive close in nine session. in consumer confidence and a day of higher treasury yields. trigger article 50 tomorrow starting britain's divorce from the eu. we will look at whether it is priced into the market. general motors setting itself up with a five for david einhorn, snubbing the proposal to offer a second class in the stocks for the company. abigail: this is a serious case of by the dip. the dow and s&p 500 and nasdaq are all trading slightly higher, on pace for the best day since march 1: being helped by the banks which are rallying in a major way. the dow is on pace for its first update, perhaps snapping a bearish streak there. , on pace for its worst monthly performance since january of last year.

i'm oliver renick. scarlet: i am scarlet fu. e to "bloomberg markets." ♪ oliver: we are live from bloomberg world headquarters in new york the next hour and we will be covering stories from washington and paris. top stories we're following on bloomberg and around the world -- markets with about an hour left in u.s. trading, stocks going back a little bit on low volume. oil a big story as crude trades below $48. trump presidenttrump gearing up for up -- president trump gearing up for a trip to detroit, expected to announce fuel economy -- a change to fuel economy standards put in place by his predecessor, which environmental groups are calling catastrophic. reaction to investor bill ackman exiting his position in his company. forill discuss what is next the pharmaceutical firm and whether investors will follow suit. one hour away from the close of getting, let's check on markets, but first -- julie: [laughter] i knew this was coming. if you were watching at this time yesterday, oliver was a little bit skeptical about the snow tota

i'm oliver renick. >> and i'm julie hyman. welcome to bloomberg markets. iver: from bloomberg world headquarters in new york on this friday, we will take you from oregon to washington, jerusalem, and soul in the next hour. let's see what going on right now. stocks are rising after the jobs are for your the way for the fed to raise rates next week, probably. but the s&p has been fluctuating all day and the market is still on track. and in politics, support for rex tillerson is waning on both sides of the aisle. many of his supporters surprised why the old man's management style. plus, we continue our focus on infrastructure and talk to one portfolio manager that says math will kill president trump's plan. one hour from the close of trading, let's get a check on the markets with abigail doolittle. abigail: not much happened with the major averages, so we thought we would take a look at the week. the first time down in seven weeks. at the russell 2000 down more than 2% on the week for it worst week since december 2. is, is this a pause or are we actually going

i am oliver renick. scarlet: i am scarlet fu."bloomberg markets." ♪ fromr: we aren't lightbank bloomberg world headquarters in new york for the next hour, plus bloombergrel ive from world headquarters in new york for the next hour, plus we are covering stores in los angeles and washington. day, 1straight down street that long in a month, as telecom energy shares are losing steam. the vice chair of multi-asset investment is going to be joining us in a moment. will climb to 4% -- we will figure out how confident he feels about the call. fight theabout to republican plan to repeal and replace the affordable care act. meanwhile, opposition from the conservative wing of the republican base. what are the chances of passage? let's get a check on the markets. they aren't doing too much come with julie hyman. julie: we are in stall mode. anywhere.one much of as oliver pointed out, if we get back to back for the s&p 500, it will be the first in more than a month. we have not had much of a stall like this in quite some time. i want to talk

. >> and oliver renick.ambridge analytic us data models form the backbone of print -- president trump's campaign strategy. >> here's reporter david kochanski. >> cambridge was a late entry to the trump campaign. they got credit afterwards because there data analysts identified pockets in the rust belt where there were potentially persuadable trump voters in wisconsin, ohio, michigan. that's when the electoral college. their role was relatively small but important. pitch,ve a great sales they have this whole data analysis where they use people's social feeds and say they can build psychographics were they can tell people are's persuadable based on things that they tweet, like on facebook. this is the big program that they sell themselves on. they did not get a chance to do that in the campaign. they say they have done it elsewhere and have had a lot of success and have had a lot of success in doing things. the company also has a mixed history in terms of of other things head is worked on for different governm

oliver: i am oliver renick. carol: can a ceo lead the u.s. state department?and against rex tillerson success. and how did one of the most liberal and welcoming places in europe become a hot head for anti-globalization. oliver: all that ahead on "bloomberg businessweek". ♪ carol: we are here with editor and in chief.

i'm oliver renick. in the future section, investigation into purple drank.ar with hip-hop artist from the lane to justin bieber. this looks at the company behind purple drank. it focuses on houston and it was such an integral part -- sipping this cough syrup with a substance that forms a high. it is a small corner of the overall market. these bottles of this cough syrup were traded as high as $1000-$2000 and were specific to their flavor. there is also pink drank, linen drank. we laugh about it but in the throes of opioid addiction, unseen scale and threat to so many communities now and this was under the radar in communities like houston and the law enforcement -- how difficult it is to combat this as it spreads. -- did dig into it. you look at other additions that have made the headlines and you wonder how much corporate communities new about it and the street value of this drug. >> we went to so many companies and it was a small market and a small number of producers involved in producing the syrup. how much they can combat is when it is an off-the-shelf

. >> i'm oliver renick.carlet: we are live in bloomberg world headquarters in new york over the next hour. stories we'reop following from around the world and on the bloomberg. we start with markets, u.s. stocks in retreat. equities coming off record levels. and it is one of the biggest tech ipos in years, snap shares soaring in a public debut. we are asking some of the early howtups and their investors long this positive sentiments will last. in politics, later in the hour, president trump will deliver remarks aboard an aircraft carrier in virginia. he's expected to make remarks on defense spending. we have your full analysis when it starts. on a tearts were yesterday, but they come back a little bit here. let's check on where stocks are trading with julie hyman. julie: after the big rally we saw yesterday, the biggest since the election. u.s. stocks pulling back, not a huge pullback, only 1/4 of 1% for the dow. and come back a little bit here. let's check on where stocks are trading with julie hyman. julie

oliver: i'm oliver renick.few blocks may make all the difference in the price you pay for a home in manhattan or brooklyn. our real estate reporter for bloomberg news. you are focused on the tipping point, the amount of time it would take for renting to be equal or higher than the cost of buying a comparable home. tell us what you were surprised to find out. interestingone was because it varied so much by neighborhood. but what it looked at was how many years would it take for the cost of renting, including renters insurance, brokers fees the cost ofexceed buying. they computed this data point and in some neighborhoods like soho, it takes 31 years of renting. you might as well just hang out. just a few blocks to the east, and the east village, it's just under four years. so you see the difference between the neighborhoods and the cost of real estate. oliver: let's take a look at that graphic again because it's really cool. you guys are applying it wonderfully here. you can see the median resale price and right

oliver: and i'm oliver renick.ocal critics of republican health care plan is representative joe kennedy, carrying on the legacy of his great uncle, ted kennedy. david spoke to him recently and asked what happens next as congress builds up to the key vote. take a listen. kennedy: i don't know if anyone knows if the republicans have the votes for this yet. i know they are confident that they will get them. we'll see. as to my own plans here, i think it's critically important that everyone understand exactly what this bill is going to mean for them and their families before republicans call for a vote on it erie look, david, candidly, there's not a lot of press reports saying that the bill is going to between and modified. only 36 hours notice. i haven't seen text of this bill that we are supposedly voting on , which should give you the biggest pause as wondering whether this is a good bill or not. passing an overhaul to a $3 trillion per your industry on a bill that you don't have the confidence is going to withstand

oliver: this is bloomberg markets, i'm oliver renick. scarlet: and i am scarlet fu. president trump campaign promise to build a border wall between the u.s. and mexico is been forward. the request for several prototypes of design structures are expected next week. companies are also lining up to participate as well. kerry, where are we with the contract process? has there been anything posted on government websites? we know something is coming next week, but what has been posted? early we are in the stages of a contract to build the wall. customs and immigration service pre-request, if you will, for interested parties. there is a way for companies to raise their hand and say yes, we are interested in anticipating that participating. i checked before coming in, and as wellt 400 companies as individuals, lawyers, architects, and some of the biggest builders out there. big defensemics, a contractor. they are all raising their hands and saying please include us in upcoming information. a formal request will probably go out around march 10, the government said, and mockup

i'm oliver renick. scarlet: i'm scarlet fu. oomberg markets." ♪ oliver: we are live from bloomberg world headquarters in new york for the next hour. we will cover stories in san francisco, washington, and london. breaking news, a terror attack in london has resulted in quarter debt and 20 injured. we will watch with updates. on theeconomy, we focus federal reserve's agenda and janet yellen'speech tomorrow. and we will talk policy. u.s. stocks fluctuating after suffering the first 1% decline since october. havens like treasuries are rising today. we will walk you through the club. let's get an update with abigail doolittle. abigail: despite the attack in london and the fact that we had a massive selloff yesterday, we are looking at not a lot of action on the averages. the s&pseen the dow, 500, and nasdaq flip between small gains and losses. the dow has been primarily lower, nasdaq primarily higher, the s&p 500 truly right around even. we have stocks trying to approach separate highs earlier in the morning around the terror attack

is oliver renick. aboute to be careful here causation and correlated vision -- correlation. how much is it coinciding with exhaustion in the market? >> it is a good question. --hink any reaction financials and industrialization. those are the groups that are losing. it is not health care. of the health care related stocks are doing well. the idea that started percolating the past couple of months were people were questioning whether this was an election driven rally. if the market had not gone anywhere after the health care bill failed.h care you have the data itself it looks pretty good. the results of the earnings rebound that is still happening to a degree. those things are happening, but the market is down on a sector that people were banking on. we're talking about a tame spike here. prettygs are getting wild out there. low for very long. the question is how that is going to disrupt some of the trades. take big swings on the market. as it jumps back up, i think it will change activity for the market should be ready interesting. what is the significance of that? >> i loo

oliver: and i'm oliver renick.nced that an israelirchase -- auto company, being purchased in a $15 billion deal. cory johnson asked brian krzanich why he wanted to do this now. brian: we think that combining allows us to have a singular platform, end to end, for our customers. more importantly, as you take a isk at where the driving going, they are working today on the 2021 models. you have to make a deal, you have to build your platform today in order to be there when the models are really going to start hitting the road. what has the intel approach been? how might a change? in a: we are already number of autonomous vehicles out there today. this really brings the best of both ends of the computing spectrum for driving together. think about it this way, the car will have two brains. one is a vision brain that is going to take the radar, the cameras, combining them to build a view of the world. there is another brain that intel currently plays in that will take that information and basically drive the car. this put

oliver: i am oliver renick. one day trader who loves wearing a wire for the fbi. strange and controversial viewpoints. carol: the shockingly bad safety record for auto-parts makers in the south. oliver: all that ahead on "bloomberg businessweek". ♪ we are with the editor in chief megan murphy. you look at china, specifically

oliver: i am oliver renick. carol: trump force one ready for takeoff. searching and comes up with a new recipe for success. oliver: all that ahead on "bloomberg businessweek". ♪ carol: we are with the editor in .hief megan murphy you guys look at korea. there is a lot going on in south and north korea. megan: we have seen

i am oliver renick. inside theng to from magazine's headquarters in new york. from north korea and how smugglers are bringing gold into miami and how technology is changing big tobacco into looking more like silicon valley. all of that ahead on "bloomberg businessweek". ♪ carol: we are here with editor in chief megan murphy.

oliver: i am oliver renick. carol: trumpforce one ready for takeoff. g and comes up with a new recipe for success. oliver: all that ahead on "bloomberg businessweek." ♪ in

oliver: and i'm oliver renick. this is "bloomberg markets."ive from bloomberg world headquarters in new york over the next hour, covering stories out of las vegas, washington and paris. we are live at the ibm interconnect conference in las vegas throughout the hour, speaking with ibm's ceo and salesforce.com's ceo. release results after the close today. leon cooperman must face a trial on insider trading charges after a judge ruled that the fcc had a plausible case against them. but first, we want to return to equity markets where stocks are seeing the biggest selloff in. -- in

. >> i am oliver renick.mberg markets." ♪ >> we are live from bloomberg world headquarters. here are the top stories we are following. fed officials begin their two day meeting. it is the pace of hikes over the next three years up for grabs. commodities, we watch oil slide on news that saudi arabia reversed some production cuts. crude fell to the lowest since the opec supply deal was struck. puerto rico's governor joins us from sam on -- san juan. now it is time to talk to bondholders. u.s. markets close in two hours. let's check with j

oliver: and oliver renick.g markets. ♪ we are live in new york over the next hour, and we are also covering news out of san francisco, washington, and london. right now, house republicans are not confident they have enough votes to pass their health care bill. from wall street to washington, are covering it from all the angles. let's check out the markets. manys are mixed with watching health care as we await a vote today. and google losing at least $24 billion in value this week as its advertising controversy spreads. we'll have that and more in this week's tech roundup. oliver? scarlet: -- oliver: your top story of the day, house gop leaders are not confident they have enough votes to pass their health care bill. chief whitewith our house correspondent. paul ryan is running back and forth, the ideas they do not have the votes? >> there are more than 30 house republicans who have expressed sentiment that they are not satisfied with the health care bill or endorsed by president trump and house speaker paul ryan

oliver: i'm oliver renick. welcome to "bloomberg markets."e live in bloomberg world headquarters in new york over the next hour, covering stories out of los angeles, washington, and beijing. we want to focus on policies from president trump as he gets set to sign an energy independence executive order this hour. it seeks to lift a ban on the and of new coal leases reverse the clean power plan, and and obama era regulations aimed at combating climate change. for more, we're joined by kevin cirilli, who is at the white house right now. as we await those executive orders. kevin, which one here is most representative of trump's agenda to push back on some of the climate influence regulation? afternoon,r this president trump is gng

oliver: i am oliver renick. welcome to bloomberg markets.e and bloomberg world headquarters, covering stories out of mexico city, washington, and london. here are the top stories we're covering. the countdown is on on a vote to repeal and replace obamacare is coming down to the wire. the white house is trying to win over holdouts with last-minute changes, while some of congress say the vote could be pushed until tomorrow. mexico's central bank governor speaks to bloomberg. he says the pacer remains undervalued by as much as 10%, even with the recent strengthening of that currency. we will focus on retails. sears shares have been under pressure as the company makes the top focus of winning default on its debt.

scarlet fu and oliver renick talk to the managing director, who gave his thoughts on the company's performancest day of trading. >> the successful start you are seeing his reflection of two things. one is how popular the product and how well the company has executed over the last few years, and the second is there have not been a lot of tech ipos and there is strong demand to invest in companies like snap. it is great to see. >> the stock is trading $25 and change. it ipoed at $17. where do you see it closing and trading in a quarter from now? >> i can't see the future. the company has done a good job of setting expectations at the right levels. i think using strong investor sentiment behind the company. what happens in the next few days is hard for me to predict, but so far, so good. >> the reason i ask is that it could go the way of facebook where it did not have a great debut but the stock is done very well. or twitter, which did better, but fell below its ipo price. what is your confidence that evan spiegel and bobby murphy can guide snap to not go in the -- to avoid going the way of twitt

iiver: i am are little or -- am oliver renick.loomberg markets." ♪ from bloomberg world headquarters in new york, from washington to paris, moscow, in the next hour. here are the stories we are following. in markets, crude oil dipping .elow $50 a barrel non-opec producers not doing much to combat record stockpiles. politics, president trump's one trillion dollar infrastructure plan, they are taking matters into their own hands. to raise are doing money for roads and bridges. the president has will cannot the animal spirit. find out what else he had to say about the president's impact on the economy in our exclusive interview. markets close in two hours. the drop in oil prices are

oliver: i am oliver renick. carol: one day trader who loves wearing a wire for the fbi. s creator has strange and controversial viewpoints. carol: the shockingly bad safety record for auto-parts makers in the american south. oliver: all that ahead on "bloomberg businessweek." ♪ ♪ carol: we are with the editor in chief megan murphy. you look at china, specifically an economist who is trying to

earlier on bloomberg markets, my colleagues scarlet fu and allergan are -- and oliver renick interviewedaging director. he gave his thoughts on the company's first day of trading. >> it is a reflection of two things. one is how popular the product is and how well the company has executed over the last two years. the second, frankly, is also that there have not been a lot of tech ipo's and there is a strong investor demand to invest in companies like snap. it is great to see. >> it is great to see and you look at how the stock is trading right now, $25 and change, around $26. where do you see it closing and where do you see it trading in a quarter from now? >> i cannot see the future. comment on, the company has done a good job setting expectations at the right level. you are seeing strong investor sentiment behind the company. every decision they are making is for long-term. you know what happens in the , next few days is hard for me to predict, but but so far, so good. >> so far, so good. the reason i asked that is because you can go the way of facebook we do not have a great debut, but

i am oliver renick. we are coming to from inside the magazine's headquarters in new york.ats from north korea and how smugglers are bringing gold into miami and how technology is changing big tobacco into looking more like silicon valley. all of that ahead on "bloomberg businessweek". ♪ carol: we are here with editor in chief megan murphy. you look at the strain between china and south korea.

. ♪ oliver: i am oliver renick. i am scarlet fu. loomberg markets." ♪ oliver: we are live from bloomberg world headquarters in new york for the next hour plus covering stories in moscow, washington, and paris. here are the top stories around the world. a pretty quiet day for u.s. markets with health care stocks posting the egg if losses in the s&p 500. we will talk about carl icahn emerging in the trump administration. his influence could shape regulations and policies that could impact of the portfolio. is proposingmp historic budget cuts. we will have reaction from the former cia director leon panetta. let's get a check on the markets with julie hyman. more of a downturn now than earlier. scarlet called a dovish raise for interest rates. we are seeing a little more movement. a pause than like anything else. take a look. health care is one of the underperformers and concerns we have seenget treasury rates go higher. financials in today's section -- session. a day after the fed raises rates. yesterday, where we saw yields lower, a re