pimm fox: from bloomberg world headquarters in new york, i am pimm fox, in four mark crumpton. this is "bottom line" for friday, march 6, 2015. we have full coverage of financial markets and details on apple. scarlet fu, bloomberg chief market's correspondent, explains why it has taken so long for the world's most valuable company to join the dow. and peter cook is covering president obama and the commander in chief's view of today's better than asked acted employment report -- expected employment report. a strong u.s. jobs are word for february -- jobs report for february. details of the report show the number of jobs created in the previous two months needs to be revised down by 18,000. the chairman of the president's council of economic advisers had this to say. >> we have now had 12 straight months of his is adding over -- businesses adding over 200,000 jobs each month. we have not seen since the 1970's. we are going through an extraordinary streak. we are keeping up the same pace this year. it is something most people did not expect. pimm fox: wages rose .1%. what does the

i'm pimm fox. this is vanuatu.is the devastation from cyclone pam that slammed into the south pacific nation five days ago with winds of over 100 miles per over 90% of the hour. housing stock has been damaged or destroyed. survivors still need food, water and shelter. unicef estimates that nearly 5000 people across the island do not have access to drinking water.

. ♪ pimm fox: from bloomberg world headquarters in new york, i am pimm fox, in four mark crumpton.ttom line" for friday, march 6, 2015. we have full coverage of financial markets and details on apple. scarlet fu, bloomberg chief market's correspondent, explains why it has taken so long for the world's most valuable company to join the dow. and peter cook is covering president obama and the commander in c

julie hyman and pimm fox joining me. the number one story the dollar.asury meeting. crude has fallen to below $45 a barrel in the last two weeks. the fed is expected to ew - remove the word patience. pimm: if you believe bill gross and he just wrote about how this race to the bottom in terms of interest rates to stimulate the domestic economy if it falls in other places in the world, it will not have to raise, the dollar will naturally rise. there may be some internal political thing to satisfy people in washington and all of this. but as far as the money? betty: whether the dollar is a problem. julie: inflation is nowhere near their target. pimm: this is what i never understand, it is because the math does not work out for corporations. if sell things in euros, and it's translated back to u.s. dollars, you will gain fewer dollars. but the issue is not bad, you sell the same number of units. julie: it is a conundrum for the fed. betty: stocks she thinks the stronger dollar is going to bolster a stronger economy. all of these bears are coming out saying

." ♪ pimm: hello, i'm pimm fox. no survivors in the german aircraft.age was found about 30 miles north of nice. it was on the way to duesseldorf, germany and carried 150 passengers and crew. lufthansa had this to say about the tragedy. >> in this dark hour of our company, our thoughts and feelings and prayers are with the relatives of the passengers. and of course our crew. pimm: during a news conference with the afghan

pimm fox and julie hyman joining me. it is the ecb. mario draghi speaking.at the bank will begin absent purchases -- asset purchases next week. he addressed key questions about greece. there he is in a live shot from the press conference. also noted, inflation still really, really low in the euro zone. julie: 0%? betty: basically nothing this year, and less than 2% going forward. pimm: that is for a very large number of people in a multifaceted economy -- using the sat word. [laughter] this is huge. it is interesting that you have an italian who is the poster person for europe and the other person may be angela merkel of germany. you have italians and germans chimed to figure out what to do with issues with greece and spain and italy and france. he is doing a good job, isn't he? who else would want to do that? amidst all of this we have to talk about markets. pimm: he is trying to get the value of their currency down. betty: great time to travel to europe. i want to bring in nicholas. -- he has been focused on the nasdaq hitting the 5000 level. he says don't

sayonara ♪ pimm: i'm pimm fox and this is what i'm taking stock of.rom the second round of bank stress tests have been released. bank of america got a conditional pass and goldman sachs, chase, and morgan stanley cleared after revised proposals. billions in buybacks dividend increases have been announced since the reports were released. shake shack served up its first earnings report and they came in medium well. they beat revenue estimates but posted a greater quarterly loss than expected. shares are following in the after-hours trade.

. ♪ pimm: i am pimm fox. janet yellen is losing patience but in a good way.tral bank deleted the word patient from their statement. yellen spoke about the change in a news conference. >> just because we removed the word patient from the statement does not mean we are going to be impatient. pimm: u.s. stocks and bonds rallied after the fomc meeting. the european central bank was under siege today. austerity protesters battled police and the ecb president said financial leaders must listen to the protesters.

." >> i am pimm fox and this is what i am taking stock of on monday, march 2, 2015. nasdaq is 5000.losed above 5000 for the first time -- it closed above 5000 for the first time in 15 years. lumber liquidator stock hitting the floor. sunday evening, a cbs 60 minutes report accused the company of selling flooring with illegal levels of formaldehyde. >> basically, they have been poisoning their customers.

i am pimm fox. here is what i'm taking stock of.ean union leaders are meeting in brussels and urging greek prime minister to help unlock financial aid. ahead of the meeting, the eurogroup president met with reporters and said time for compromise is now. >> it's very clear what we have to do. we have to work hard. package that has to be implemented in the coming remote -- coming three months time is ticking away. we don't have a lot of time. pimm: profits are ticking away at nike. the sporting goods company reported third-quarter profit that topped analysts estimates.

. ♪ pimm: i'm pimm fox. this is what i am taking stock of. deliberate crash.the words from a prosecutor about the german wings crash in the out. >> voluntary refused to open the door, and he turned the button to get down the plane. pimm: the

. ♪ ♪ >> hello, i'm pimm fox this is what i am taking stock of this march 6, 2015.ws is bad news for stocks. the u.s. posted its lowest unemployment rate in seven years, 5.5%. investors sold stocks send in the s&p down five and a half percent. >> it encourages the fed to feel more comfortable about starting a very gradual hiking cycle by or at the september meeting. >> the payroll report was embraced by democrats but met with some criticism by republicans. >> just think about where we were six years ago when we were losing 750,000 jobs a month.

. ♪ pimm: i am pimm fox. janet yellen is losing patience but in a good way.entral bank deleted the word patient from their statement. yellen spoke about the change in a news conference. >> just because we removed the word patient from the statement does not mean we are going to be impatient. pimm: u.s. stocks and bonds rallied after the fomc meeting. the european central bank was under siege today.

i am pimm fox.'t -- we begin with benjamin netanyahu's warning about a nuclear deal with iran. what was his objective in speaking to the u.s. congress? grexit essentially, he wants to take something that for him is a really a substantial issue for the israeli people, the fear of iran trying to eliminate them with a nuclear weapon, and he wanted to speak past president obama, with whom he has a

. ♪ pimm: i'm pimm fox. this is what i am taking stock of. deliberate crash.e the words from a prosecutor about the german wings crash in the out. -- alps. >> voluntary refused to open the door, and he turned the button to get down the plane. pimm: in the skies over yemen, saudi arabia launches strikes against shiite rebels. the kingdom supports the elected president of yemen.

i am pimm fox.gin with benjamin netanyahu's warning about a nuclear deal with iran. >> we have been told that no deal is better than a bad deal. well, this is a bad deal. it is a very bad deal. we are better off without it. >> there is no deal yet but president obama says the negotiations are open. >> if it is a deal i have signed off on i wi

. ♪ >> i am pimm fox and this is what i am taking stock of on monday, march 9, 2015.inance ministers are demanding more from greece. they must follow throu with reforms in order to receive more money. gh>> it would never be completed in one day but would come to fruition day by day and way before the deadline. >> the apple watch's time has come. tim cook showed

." ♪ pimm: hello, i am pimm fox.is stopped the nasdaq falls the most an 11 month, down when the two point 25%. s&p 500 closes down nearly 1.5%. the dow jones tumbling nearly 300 points. crafting a major deal. kraft foods merging with heinz. the agreement would create the number three

. ♪ pimm: hello, i'm pimm fox and this is what i'm taking stock of this st. patrick's day.lection results are too close to call. the future of benjamin netanyahu will be decided by the voters. exit polls indicate a battle with isaac herzog. a win by the unity party may not create a dramatic change in u.s. israel relations. >> herzog will be not that far off from where netanyahu is an will be just as michael of the iranian track that the u.s. is on right now. pimm: u.s. airlines such as delta are pushing for what they call fair skies.

. ♪ pimm: hello, i'm pimm fox and this is what i am taking stock of this monday, march 16, 2015.ad news good news? the federal reserve may postpone any rise in interest rates. the s&p 500 rose the most in five weeks. it gained 1%. the dow jones industrial average and more than 200 points. and oil at a six year low. russian president vladimir putin is back. he made his firs

as always, check out bloomberg politics onl ♪ pimm: hello, i am pimm fox, and here is what i am takingthis march 30, 2015. investors bid stock prices higher around the world of the -- of the world today. the s&p 500 rises more than 1% and the dow jones posting the biggest advances since early february. stocks in your also rose more than 1%. membership has its privileges. american express chief executive got a pay raise of nearly 3% last year. the charge card company's stock traded at a record last to live -- last ju

. ♪ pimm: i am pimm fox, and this is what i am taking stock of.d get the bailout money as soon as next week. the funds could float to greece if the greek government can deliver on reforms. >> we have to be committed to the eurogroup agreement of the 20th of february. and we agree in the spirit of mutual trust to speed up the work and conclude it as fast as possible. >> all confirm their intention to do their best to overcome the difficulty of the greek economy.

up next, takin pimm fox: the care act is before the u.s. supreme court.e justices heard argument focusing on obamacare. a decision to limit the tax credits might challenge the legality of president obama's landmark legislation. one attorney general said that is the thing to do. >> this is a law that needs to be opened up and we need to start over and a lot of state of ideas about how to help people.

. ♪ pimm: hello, i'm pimm fox and this is what i'm taking stock of on this march 12, 2015. jones industrial average and people and more than 1%. the u.s. dollar traded lower against the euro for the first time in seven days. it is slightly lower than it strongest level in 12 years. lower-level predicted than previously and -- previously estimated. the company's recognition that reputation as being hurt because of a report on formaldehyde in the flooring. the chief executive said the flooring is safe and expressed his frustration.

. ♪ pimm: i am pimm fox, and this is what i am taking stock of.chancellor angela merkel met today in berlin with greek prime minister alexis tsipras, trying to get a little unity. the leaders are working on political and financial solutions to greece's money problems. >> at this time, we should not destroy the positives from the past five years. but we need to change the political mix in order to face these maladies. pimm: investors are listening to every word spoken by members of the federal reserve. fed vice chairman stanley fischer said raising interest rates will likely be warranted before the end of the year.

. >> hello, i'm pimm fox and this is what i'm taking stock of on this thursday, march 5, 2015.1 banks subject to the federal reserve's first round of stress tests passed. the federal reserve tested capital levels of the banks to absorb losses because of a potential sharp and prolonged economic downturn. this is the first time since the stress test were instituted that no firm received a failing grade. in europe, the european central bank will begin its $1.2 trillion bond buying program on monday. the president is claiming victory, even before the quantitative easing starts. at a news conference today in cyprus draghi said the stimulus will help the econom

. ♪ pimm: hello, i am pimm fox. this is what i am taking stock of. investors tell u.s.aq falls the most an 11 month, down when the two point 25%. s&p 500 closes down nearly 1.5%. the dow jones tumbling nearly 300 points. that wipes out the dow's gains for the year. and crafting thank you for "taking stock." a major deal. kraft foods merging with heinz. the agreement would create the number three beverage company in north amer

it is time for both of us >> i am pimm fox and this is what i am "taking stock" of on monday, march 9. euro finance ministers are demanding more from greece. ministers met in brussels and told greek officials they must act quickly in following through with reforms in order to receive more money. greek officials say the country will come through. >> it would never be completed in one day. but it will come to fruition day by day and way before the deadline. >> the apple watch's time has come. today in san francisco, chief executive tim cook showed off the latest product.

joining me is pimm fox. some of these photos were incredible. what did you think? hese photographs are great. you are 105 we are talking about. one of the critical point is it may not actually be within his rights to release these things. for the simple reason that he did not pay for this spacex launch. we paid for this spacex launch because spacex is under contract by nasa. every photograph that nasa takes is already out there for people to use in any way shape, or form that they would like to do so. one of the interesting things they are mentioning about this announcement is he responded to a twitter question from various people and he changed the license under which he is going to release these things. whether he did or not is for the legal people to figure out. but he's very good at getting publicity because these photographs are ours to begin with. it just as the nasa photographs are. we paid for them. it's sort of like the ronald reagan thing about the microphone. alix: why wouldn't the government mention that before? pimm: they always mention it. the always -

i am pimm fox along with alix steel. we understand that they work through lunch time in order to present a verdict and that they will be doing so shortly. the verdict could go either way. potential claims of about 100 $50 million against kleiner perkins. this is a landmark case, most likely to be appealed which way the verdict goes and highlights not only the working conditions at kleiner perkins but also combines a quality that many people may even described as being a soap opera. the interconnectedness of the venture capital world and of the finance world. alix: we are looking at for accounts that we want to hear a verdict on. first of all is the overall this nation. -- we're looking for four counts that we will hear the verdict on. second, the rays that she should have had or promotion the cut she was a woman. the fourth one is that the firm did not protect her against discrimination. those counts are what we are looking for. as you mentioned, $60 million that she is claiming in lost wages. this has really captivated

. ♪ pimm: hello, i'm pimm fox, and this is what i'm taking stock of on this friday march 13 20 15.ler coaster week of gains and losses. the s&p 500 closing down more than .5%, the third consecutive weekly decline. one portfolio manager gave his best advice for investors who want to buy into all this volatility. >> if you buy stocks today at today's valuation multiples, you are saying one of two things -- this market is cheap or i have a self-discipline and know when to get off the train.

. >> pimm fox joins me now.st to take a step back tag actually stands for something. so this is a watch company started in 1860, but that's always been in the forefront of producing exemplary timepieces. for example, they made the first timepiece that was sitting on the dashboard of a racecar in order to time the labs of the automobile. the indianapolis 500, you will see one of their timepieces made specifically for that. if you are of a certain generation like me and grew up watching steve queen he is wearing one of their watches. this is an effort -- there will be others. we have seen month long him rightly given to the smart watch world. they are talking about a market right now estimated to be about 38 million pieces. if you go back just a couple of years, we are talking about 6 million pieces for a smart watch. this is a combination watch with intel and google that's not going to be made in switzerland. it will probably be designed in california, assembled and fill in the blank, believe in china. this is an

i want to get to pimm fox, who is in our new york newsroom with top headlines. pimm: and today's speech federal reserve chairman janet yellen says economic conditions may warrant an interest rate hike this year. but she says the rate increases will be gradual. this is janet yellen speaking today. janet yellen: the activity appears to be closer to its potential than it was a year or two ago. the economy in an underlying sense remains quite weak by historical standards. pimm: yellen also said the federal reserve policy will evolve based on economic conditions. senator chuck schumer of new york emerging as a likely successor to the current senate democrat leader harry reid. harry reid says he's not going to run for a sixth term in the senate. reid endorsed chuck schumer and the chamber's number two democrat said he's not going to see to the top job. the germanwings airbus copilot who apparently crashed flight 9525 on purpose was suffering from an unspecified mental illness, according to a person familiar with the matter. investigators found a note in the desultory f

on taking stock with pimm fox ralph sampson weighs in on march madness and the sweet 16.several leaders in technology for their take on the advertising industry and whether traditional advertising still matters. >> advertising is more relevant than ever but it needs to be driven by brands first. we need to rethink how we buy advertising. it can't be on a quarterly campaign basis. in that way, advertising is more relevant and important than ever. >> there is room for traditional advertising in today's world. it's a great -- you have to figure out what the customer sees, where they will see it and what they will respect. >> we don't have an advertising agency at the moment. we are more focused on distribution. how do you optimize your presence on app stores and do good search engine optimization and get your brand recognized on those platforms? it's not about being on banner ads. it's more about getting viral engagement. >> traditional advertising is one of many tools we we use. we advertise in cinemas and radio and tv. we have a story about music we want to tell the whole

brendan: do not miss the interview with pimm fox. let's take a look at photos. these are cool pictures. an annual joint military exercise between the u.s. and south korean troops. those are explosions from the sea. 80 aircrafts. this happened outside seoul. the exercise always creates tension with north korea. it looks like a lovely 19th-century painting. number two, cherry blossoms. these are cherry blossoms blooming in tokyo. we are in the heart of the season. it only last for a week or two at most. people come out to take pictures. a nostalgic moment for the japanese. brendan: tom is composing a haiku on spring. olivia: the reason i wanted to talk about the cherry blossoms is because i was in japan last weekend. brendan: she sent a photo to us over e-mail as a way of saying how are you doing. olivia said i had a great time. i did a lot of eating. this was a shot glass full of live, baby eels. they were still jumping out of the glass. a bunch of the people i was with bucket like a shot. i did bring back matcha flavored kit kat's. tom: it is not chocolate. it i

i am pimm fox. around the world syrian president bashar al-assad is still in power.where . in media, jay-z, beyonce, and an all-star cast of musicians launch a new music streaming service. does the world need a new music streaming service? we will find out. and a misunderstanding about the

for more, pimm fox joins me now. how was it talking to watch her? -- to washerusher? day. usher, along with a variety of other musical guests, will be at the event of the national mall in washington. they are hoping to get 250000 to attend and the focus is to end extreme poverty. there is a big focus to use social media, streaming services in order to generate public support that would force politicians as well as other world leaders in order to dedicate money and resources to try to end world poverty. the second issue has to do with tidal and new forms of music streaming and nude kinds of rights -- new kinds of rights that would offer musical artists more money, more of a take of the actual pie. one of the things i did was try to look at the number of online streaming service is currently available in the world. there are about 25. distinguish those from the number of online music stores from which you purchase actual music. again, 25 of those. then there are online music lockers where you can buy music and you can put it on locker and actually access it using a vari

pimm fox will be here tomorrow. erik schatzker will be in on monday. i will be back on tuesday.ts" widths -- with scarlet fu is next. >> bloomberg television's "on the markets." with just an hour left on the snowy thursday afternoon, we have the down at -- the dow and s&p trying to make a comeback. the indexes have been treating in pretty narrow ranges. the year road is another area of focus after the ecb came out with new forecast for the gdp. upgrading the forecast and a look at inflation ticking up as well. the euro falling be from -- falling below 110 -- 1.10. we are seeing oil prices drift lower. the kleins over the past year is more than 10%. the charts show energy is oversold. steve, it is not just that energy needs is oversold. you are bullish on xl he. -- on xle. >> i admit that this is a hard sector to like. a lot of folks in north dakota and texas have been crying themselves to sleep in recent months. but yesterday's price action actually is telling. the fact that we got inventory numbers that suggests the u.s. is awash in crude oil, we are going to run out of storage

joining me is pimm fox. 3g capital is run by george lehman. who is he? mm: he's a former davis cup star. he has two partners he works with on deals. i would imagine you could go back to the beer deal they did in brazil that put them on the map in terms of what they are able to put together and taking that deal and turning it into the anheuser-busch deal. they had been active. that's that's why i love you. trish: you know all this stuff. p this is from --pimm: this is from bloomberg sources. trish: how did they get together? they are very different in the way they run the companies. ed: they have this wonderful symbiotic relationship. berkshire hathaway is this old company that cherishes brands and keeps them going. 3g is the most aggressive private equity shop you can get. they are known for shedding costs from the get-go, being fairly brutal and how they manage the businesses. what seems to work is buffett gives them over near of acceptability. >> he gives them money. what he got when they originally did the deal, that's going to go away. he is still goi