nejra: it is interesting you bring up the pnl.f the biggest questions for the buy side, what they will do about these research costs, which they previously did not have. will they pass it onto the kleins, or will they absorb it on to their pnl? most asset managers said they will absorb it on to the pnl's. questionse of the big going forward, as well as the jobs issue. we haveters because if to provide different types of research, if we have to provide less research, that could mean there are job losses. we don't want to sit here and say this is how many job losses will go because that is another question we don't know the answer to, tom. turnfor more on mifid ii, to your bloomberg terminal. go to tliv for more analysis on bloomberg's expert editors will step we should also said that bloomberg lp competes to provide services complying with mifid rules. our financial news has just been concluded in our blog. we will be back with simon french and daniel morris. this is bloomberg. ♪ tom: "bloomberg surveillance," francine lacqua

our goal is really to assess and reform fines, fees, tickets, pnl penalties that sometimes have a disproportionate impact on low income san franciscans. we worked really closely with the sfmta and specifically with diana hammond and e mmet nelson, and we agreed that we know that consequences for transportation violations need to hold people accountable, but we want to make sure they don't pose an inequitable burden for low income san franciscans. i have handouts if you'd like to see the presentations again, and they're on our webpage. i just want to say that since our task force concluded, we've had a really open and consistent dialogue with the sfmta and diana hammond. i think it's been really constructive, and about every other month, we've been meeting and bringing together people who are really on the front lines of serving some of the most vulnerable people in our community. a lot of legal service providers, many of who were here earlier but couldn't be here to comment on folks struggling with homelessness. we just want to say we support these recommendations put forward today, and think they

hasta que una amiga mÍa, mary santana me dijo que sÉ pnl.mbre. el juez dijo que la prueba se hacÍa no en el que se adoptado evitar lo que va a pasar. quien pide primero la prueba de adn fue la seÑora. nunca, no existe un solo pack de el, un solo oficio donde diga que yo estoy demandando mi hijo. sÉ que también lo van a venir a decir. en ningÚn momento he querido de los matÍas gil gregorio de sousa. es gil aquÍ en la china. addis: esto fue lo que sucediÓ a la llegada de juliÁn gil. todos los medios nosotros Éramos entorno él. hubo algunos empujones, pero fin de cuentas decidiÓentretenerse y platicar con nosotros. inÉs moreno nos va a dar testimonio de lo que pasÓ ahorita cuando llegÓ marjorie de sousa. aprovechando al gaby, cuÉntanos, tÚ vives apoyando a juliÁn. queremos preguntarte cÓmo hace el nuevo el proyecto para la gente. por lo vives hoy estÁ muy contento porque siempre ha querido esta pruebay quiere gritarle al mundo entero que matÍas es de Él como algo izquierdo y vittorio cuÉntanos quÉ dice no vienen porque nosotros y cÓmo llegó. es

really wasn't like sitting in some far away place, you know, companies decide to invest based on the pnl and not just at pure asset structure, so, you know, fine, but it doesn't really change which projects are starting, how many engineers are employing anything like that. maria: i've got to get your take on the employment situation right now because there's this whole debate about daca, brad smith from microsoft, president, we had him earlier, he wrote a letter to president trump, we need to protect the dreamers in terms of daca, when you see what's happening with machine learning, you see where the unemployment situation is, it's almost full employment, we need immigrants to come in, isn't that right, how would you characterize the need for work today? >> well, we built the country on immigrants. we are a very lucky country where lots of highly energetic and talented people want to come to the country, exactly what the policies should be is complicated. people were young when they came here, they have spent most of their life in america, you know, they want to contribute, i certainly b