the agency overseeing the rideshare and taxi services. only has 7- investigators to monitor violations in the city. and 6 stationed at s- f-o. >> stanley:the agency plans on hiring francisco. soon. >> stanley: i have a question for you? why did you pick those people up back there? >> stanley: what if i told you that the people you picked up were undercover police officers? we'll let him ponder that for a moment. >> these are my regular passengers. i have picked them all before. yes. >> stanley: all of these are your regular passengers? >> stanley: you are being cited for operating without a license for certification. what if i told you the church to require passengers to pick up our undercover police officers. --what if i told you that the two regular passengers you pick up our undercover police officers? >> stanley: suspended license for the last four years? >> so you are not even an u ber driver? >> he said to settle gave you the ride for free and that x were you not supposed to give but the ride and he said no. >> stanley: he appears t

obviously very different but this trend towards ridesharing is the same.at you see in a very local game, local transportation, big off-line components -- it is not just about an papp or machine learning, but ensuring the cars come clean and the drivers are nice -- we see all these local champions rising in southeast asia. didi in china. lyft here. i think what you are going to see is more and more of these getting stronger because the in aberaffects players of local giants. emily: i want to talk on regulatory issues in thailand. thailand recently ordered you and uber moto off the street. how will you handle that? anthony: grab bike is pushing the boundaries of innovation. and as a company like grab that constantly pushes innovation, for sure, policies take time to catch up. going back to how i have learned from my family business and being in southeast asia for 67 0, 70 years, we believe working i with the government and innovating policy together -- when we ask ourselves are we doing something better for the country? are we helping make transportation che

ridesharing -- it is interesting to see how the car companies are playing into it.ogic is that if people are going to be using uber, fewer cars are going to be sold. if fewer calls will be sold, people will be buying used cars to go into the business of driving uber. low-cost, make a lot of money. the car companies are preparing for a world where they want to make money on every iteration of that car as opposed to only selling the new car. remember, they do used cars. once that market dries up, what will they do? if they can make money off of used cars in other ways eighth on rental companies -- it is a question of, how can they stay involved with the car longer and make money off of every use? ride sharing is a way for them to do it. i think it's genius. emily: in the u.s., do you think it is winner takes most? is it a duopoly, many companies? should uber be worried about its dominance? dan: i think everybody is always worried. i think it is a commodity where we will go for the cheapest. there are people that just get into habits. i think uber has a very big lead a

they are investing in a chinese ridesharing company.o look at markets following the session lows. we are down across the board. this is "bloomberg markets." ♪ carol: this is "bloomberg markets." i am carol massar. apple has invested in a chinese ride service. it is a fraction that apple is sitting on. opening up questions about investments and increased dividends. artist was asked whether apple or hold. sell, >> definitely a buy here. it is very cheap for you to profit cycle will bottom in the june quarter and we have a company with $233 billion in cash and lots of opportunities. al: if the stock goes down like it is going down is this a good stock and a trueblue deployed cash to his shareholders. when they deployed cash to shareholders like they deployed cash to china? >> they have a $250 billion cash deployment strategy and they have done a good job. what i would like to see is a bigger hike in the dividend. they just hiked it but if they a 3% yield that would be very attractive for investors. scott: this is the biggest in china. to u

apple gets a slice of china's ridesharing business. investing $1 billion. welcome to countdown. i am anna edwards. it is 6:00 a.m. in london. through what has been happening in the markets. we want to start with the chart we have here. the u.s. equity market, the s&p 500 over the past three weeks. highlighting the roller coaster timeframe we have seen. yesterday, u.s. stocks were little changed. a with salt session. whipsawtouched -- a session. the s&p touched. apple was a big lagarde yesterday. the dollar may be listening to the dollar may -- may be listening to the commentary from the fed coming through this month. general strengthening in the currency. that is not seem to be applied to all of the asset classes. hawkish commentary yesterday talking about the risk of asset bubbles. oft was the fed story another. asian stocks are down for their third weekly loss. corporate earnings disappointing. the boj has been speaking in japan. dollar-yen is at 108.8. heading for its second weekly loss against the dollar contrasting central-bank helices in japan and the u.s. says he still ha

we confront the violators.>> reporter: were looking for road rideshare drivers.his driver picked up five minutes after the operations are. >> taking a risk of a $5000 fine would be a deterrent. >> is not criminal so what affect your criminal history. >> question for you, why did you pick them up? >> i had a call from uber. >> i asked them do they call uber in the city's. >> what i told you the typical you picked up were undercover police officers. >> will let him ponder that for a moment. >> this driver had a different approach. >> what happened? >> this is my regular passenger. >> c thought it would be cool. i asked a simple question. >> i am have taken the before. >> you can be cited for operating without a permit. it's not an admission to guilt, just promise you'll take care of it, i need your signature right there. >> i had one more question. >> what if i told you your to regular passengers you picked up our undercover police officers. >>> they find me. >> if i'd be on the corner for the >> this is another question. >> this analysis i was suspended. >>> give

shery: toyota is investing in uber to explore a ridesharing partnership.reancial and joining together to make a specific investment in the company. it will include toyota leasing special fleet vehicles to uber. >> the auto industry is being assaulted by all kinds of technological change. maybe the least of those is this concept of ridesharing, but it has really taken off. it has changed the way rental cars operate, the way taxis operate. it is a big part of the global fleet. it may change the way people drive or choose one to own a car or not to. nobody wants to get left out. toyota has a lot of money. it is easy for them to make an investment. get a toe in the water and see what is there for them to learn. guy: the unicredit ceo has agreed to step down after only six years at the helm of the bank after losing the support of investors and share price capital as well. do they have to raise money? jonathan: they certainly need more capital. one of the issues it faces is when you are trading at four times global growth, it is diluted. there was a lot of thing

er toyota is investing in ubr ridesharing partnership.e joining together to make a specific investment in the company. it will include toyota leasing peschel fleet of vehicles to uber. -- special fleet vehicles to uber. maybe the least of those is this concept of ridesharing, but it has taken off. it has changed the way rental cars operate, it is a big part of the global fleet. it made change the weight people drive or choose when to own a car or not to. such we are to have, it is very toyotar them to make -- has a lot of money, it is easy for them to make an investment. agreedunicredit ceo has to step down after two years, losing the support of investors and share price capital as well. they certainly need more capital. when you are trading at four times global growth, it is diluted. there was a lot of things they can do, spin off assets, relieve the pressure. bigs the lowest capital bank across the eurozone. it has 40 billion of not informing [indiscernible] it is the biggest. arep enterprises shares surging in extended trading. this is

>> you have a tonic coming to cars, ridesharing that is going on, ridesharing services like yft, ande done by apps. that is the model everyone wants to get to, or you have a self driving car that comes in picks you up and you preserve some time with an app. andveryone stops owning driving their own cars and they go to these other services, they are going to be left in this old world is this model and that is the convergence that makes silicon valley very opportunistic and makes stuttgart and tokyo companies nervous. whyd: if you look at detroit needs silicon valley, you also look at the other side of the coin. what is google or apple need an partnership like this? >> google went out of the business of making cars, a simple point. that is capital intensive, expensive, not high-margin. those companies are in massively businesses. they would like to partner up with one of the big car companies and have them be the brawn in the muscle that makes the car in google will do all of the brains that makes the car self driving and does the connectivity and web services, so the possibilities are

apple making a $1 billion investment in the ridesharing company that competes in china with uber on the same day alphabet's parent of google replaced apple as the most valuable company in the world. another retailer having a hard time, shares of nordstrom dropping 17% in after-hours after it missed wall street estimates and cut its outlook. jcpenney reports its earnings this morning. checking stock market futures in the retail arena, dow futures down 86 points, nasdaq down 22 points. let's look at what is happening now. lauren: police may not be ready for the kind of trouble that might come when the republican convention begins, mike tobin is in cleveland with the details. >> reporter: the president of the patrol and associations is from a public 50 standpoint this town is not on schedule to handle the republican convention in july. republican national convention attracts demonstrators as it did in st. paul in 2008. donald trump events are magnets for passionate demonstrators, and in a few weeks the two will converge in cleveland, a town swelling with ethnic tension. >> is cleveland rea

people are recognizing that ridesharing services will be a big business, and that maybe fragmented on geographic basis, with multiple winners. david: i think that is one of the things people are finally realizing about uber. one time, they thought it would be a monopolist, but it does not seem to be playing out that way. it does raise questions about that valuation. it does make sense for these automakers to be hedging their bets. they don't know how mobility is going to evolve and they are in the business of selling a piece of hardware that may not be the way the business goes, down the road. does this mean for cooper, in your opinion? do you question the $62.5 billion valuation? dave: it is hard to say how big the valuation is going to get. what do people use cars. that is not going to change anytime soon. but as you see them going into delivery logistics, not just transportation of people, that business seems to get larger quite a bit. what is really unclear is how much that will eat into automotive manufacturers and other people who are selling cars on a traditional basis. -- with

what is behind apple's investment in chinese ridesharing service didi.hese questions are coming up at the bottom of the hour. and let's take a look at the dollar today, at its highest level in three weeks. up about another .5%. --s is "labor markets." bloomberg markets. ♪ ♪ this is "bloomberg markets." let's get a quick check on the markets, 45 minutes away from the closing bell. stocks hovering at their session lows. about 1% on the dow jones industrial average. s&p 500, 9/10 of 1% to the downside. you've got the nasdaq down about .5%. it is time for a look at the bloomberg business flash. agency see is hiring people for focusing on anti-money laundering and sections compliance. that is according to people familiar with the matter. u.k. lenders are required by law to isolate their banking units from riskier trading businesses. owners oftelling numeral legacy and outback vehicles not to drive them, because the steering can fail. the company is recalling about 52,000 of the models from 2016 and 2017. it is also telling dealers to stop selling them intel r

the new program comes just days after apple invested $1 billion in chinese ridesharing firms.g up, a surprise upset in the nba playoffs. >> was way better possessions, especially in the fourth quarter when we are striking distance of gaining momentum companies that take advantage. >> on their home court last night. the nhl playoffs pittsburgh penguins tied the series in tampa bay one game apiece. highlights coming up. record-breaking snow in maine. it is made. southern texas gets a drenching. what is next for this insane but there? fox meteorologist maria molina will have the forecast across the country. you are watching "fbn:am," your first look at morning markets and ranking news. ♪ if you need advice for your business, legalzoom has your back. our trusted network of attorneys has provided guidance to over 100,000 people just like you. visit legalzoom today. the legal help you can count on. legalzoom. legal help is here. shoah, ha ha.ew artist. show me top male artist. my whole belieber fan group. it's not a competition, but if it was i won. xfinity x1 lets you access the gr

shery: toyota is investing in uber to explore a ridesharing partnership.financial services corporation and mirai creation investment are joining together to make a strategic investment in the company. it will include toyota leasing special fleet vehicles to uber. >> the auto industry is being assaulted by all kinds of technological change. maybe the least of those is this concept of ridesharing, but it has really taken off. it has changed the way rental cars operate, the way taxis operate. it is a big part of the global fleet. it may change the way people choose to drive or choose when to own a car or not to. nobody wants to get left out. toyota has a lot of money. it is easy for them to make an investment. get their toe in the water and see what is there for them to learn. guy: the unicredit ceo federico ghizzoni has agreed to step down after only six years at the helm of italy's biggest bank after losing the support of investors and share price capital as well. do they have to raise money? jonathan: they certainly need more capital. one of the issues it

shery: toyota is investing in uber to explore a ridesharing partnership.financial services corporation and mirai creation investment are joining together to make a strategic investment in the company. it will include toyota leasing special fleet vehicles to uber. >> the auto industry is being assaulted by all kinds of technological change. maybe the least of those is this concept of ridesharing, but it has really taken off. it has changed the way rental cars operate, the way taxis operate. it is a big part of the global fleet. it may change the way people drive or choose one to own a car -- choose when to own a car or not to. nobody wants to get left out. toyota has a lot of money. it is easy for them to make an investment. get a toe in the water and see what is there for them to learn. guy: the unicredit ceo federico ghizzoni has agreed to step down after only six years at the helm of the bank after losing the support of investors and share price capital as well. do they have to raise money? jonathan: they certainly need more capital. one of the issues it

visit comes a week after the tech giant portably billion dollars -- poured $1 billion into the ridesharingompany. face a record antitrust fine of around 3 billion euros in the coming weeks. officials at the european commission plan to announce the fine as early as next month. the european union accuses the internet giant of promoting its shopping service at the expense of rivals. phillips says it is selling 25% of the lighting division in an initial public offering. the company could raise as much as $1 billion. the amsterdam company said it would sell that arm to focus on the more profitable health care division. disney shanghai is set to open in one month. unlike traditional offerings around the world, the $5.5 billion disney shanghai will have a distinct chinese take. donald duck doing tai chi. visitors will be able to sample local food done the disney way. it is all part of disney's chinese and russian strategy -- chinese and russian strategy -- chinese immersion strategy. back to you. anchor: it is time for the press review. time to take a look at the international papers. studio.ned

. >> toyota is investing in uber to explore a ridesharing partnership.ncial services corporation and mirai creation investment limited are joining together to make a strategic investment in the company. it will include toyota leasing special fleet vehicles to uber. >> the auto industry is being assaulted by all kinds of technological change. maybe the least of those is this concept of ridesharing, but it has really taken off. it has changed the way rental cars operate, the way taxis operate. it is a big part of the global fleet. it may change the way people choose to drive or choose one to own a car or not to. nobody wants to get left out. toyota has a lot of money. it is very easy for them to make an investment, kind of get thier toe in the water and see what is there for them to learn. guy: the unicredit ceo federico ghizzoni has agreed to step down after only six years at the helm of the bank after losing the support of investors and share price capital as well. do they have to raise money? jonathan: they certainly need more capital. one of the issues

this will help the company buildup a ridesharing platform.about 300 million users across china. didi also counts alibaba among its investors. the bank is about to cut 30,000 investment clients. to papers that it is a plan eliminate investment banking clients by the end of the 19. georgia bank has 60,000 clients. most of them exist only on paper. has reportedhell a sheen of 97 miles south of louisiana, near its glider field. the spill was estimated to be 88200 gallons. there is no drilling going on at the area. hsbc is hiring 175 people for the financial crime compliance soon-to-be u.k. consumer bank. the team, which will be joined by 25 employees moved from other offices, will focus on money laundering. they will be based in edinburgh, where the bank recently opened a third office. a facebook ceo is getting personally involved in two an investigation. mark zuckerberg says he will host open discussions with conservative leaders and other politicians about how facebook is appearing to be biased. the company found no evidence, but the report is

ahead in the next after hour, learn why they are pooling resource with ridesharing giant uber for the summer. >>> and masters of the gridiron, but what about the chess table? next, why some eagles players spent the day battling some young chess minds at the linc. >>> votes are scheduled tomorrow in both houses of the new jersey legislature that calls for a ban on smoking at beaches and parks. governor christie called for a similar plan in the last legislation. it would allow county officials to set aside 15% of a beach as a smoking section. supporters say it will reduce litter and exposure to secondhand smoke and improve fire safety at beaches and parks. >>> hoops at the white house, the villanova mens basketball team is going to washington. next week president obama will honor the 2016 ncaa champions. >>> hundreds of children got the opportunity to play at lincoln financial field and the games were all about the mind yesterday. this was the eagles 13th annual chess tournament for young players from the after school activities partnership. the kids went head to head with each other an

we'll tell you why septa is now pairing up with the ridesharing service, uber, and the new program they'll be introducing. >>> plus itwhere you could seen beer for sale at local gas stayings. ♪ it was a construction accident, with a piece of heavy equipment ♪ and it shot me up into the roof, and it just kept breaking me in half. beer for sale at local gas broke my back, severed my spinal column oh and five ribs broken, so... ♪ my dining room was changed into a bedroom ♪ and the insurance company was giving me a hard time. ♪ pond lehocky helped put my life back together. ♪ >>> soon you fill up your gas tank in pennsylvania you could also pick up a six pack of beer all at the same time. that's if pennsylvania governor tom wolf gets his way. yesterday he urged the liquor state control board to approve several pending beer licenses to convenience stores that also sell gasoline. >>> it's 5:24. social media giant is making it official. you will have more room to express yourself. landon dowdy is here with that and more in the cnbc news. good morning. >> hi, good morning. twitter is making some t

. >>> take the shuttle or rideshare. that's the advice. cars are restricted in the vista point parking lot. they want to prevent backups. the restrictions take place from friday 11:00 in the morning to monday at 5 p.m. >>> a renovated house in oakland opened with a ribbon ceremony. students from dee dee -- delaney college did the work. it's passive when it comes to energy saving. >> it's a tech nook of building super insulated. extremely airtight and runs basically on very little heat. >> maybe we can move in. now the carpentry program at laney college is so impressive because they get hired away. >>> a new center is being set up in detroit that will focus on self-driving cars. google says employees will be moving in sometime later this year. >>> a local teenager is headed to the finals of the national spelling be. shall we spell some of the words? >> let's not. (scal): good day, m'lady! i am sir-can-a-lot, here to save you from another breakfast bore. wake up those eggs with glorious spam! see what spam can! do... at spam.com >>> okay. co

toyota and volkswagen have advanced major investment in the ridesharing industry. toyota will be working with uber on a partnership allowing drivers to lease cars from the japanese firm and will cover the payments with airfares. volkswagen is putting $300 guest. into uber's rival conditions will remain challenging in the year ahead. profits fell by over 18% in the past year. has promised to overhaul and & s's clothing lines. finally for business news, pizza lovers may soon be able to order their meals. marc: they're going to try to use pepper as a cashier in certain -- customers are allowed to pay for that food with pepper in a few outlets in asia. --is already being used pepper is in a program to chat with customers. attemptrd has a genuine to see how payments will be processed in the future, but there are also guaranteed -- they guarantee workers' jobs. cyril: how does that work? there is a robot but people still make the pizza? supervision in business news with stephen carroll. time now for the press review. florence villeminot has been reading the papers this m

the rideshare company will open the new set on monday. its where 40,000 bay area drives can get face-to-face help for a variety of issues. more than a dozen staffers will be on hand, many multilingual, which is crucial as more drivers speak different languages. >>> google is looking to bring high speed fiber optic internet service to its hometown. later today, the tech giant will present its plans to the mountain view city council. currently, the service is only available in six cities, none in california. >>> new at noon, shares of twitter have hit an all-time low. the san francisco-based social network has been struggling to recruit new active users and generate revenue. in early trading stocks fell 3% to a little under $14 a share. that number not seen since twitter went public in november of 2013. and let's take a look at the big board now and see how we're doing. not too well. the dow is down about 142 points. >>> all right. are you addicted to your phone? more than half of teenagers admit that they are. common sense media conducted

the ridesharing service is testing a hotline for drivers in san francisco starting today. it's built directly into the driver's app so there's no extra numbers to dial. this is in addition to driver support centers and in-app messaging. the pilot program will launch in phasings. it's expected to last at least two months. >>> one very lucky man in san jose is $9 million richer this afternoon. lottery officials say the man just passed in his winning powerball ticket. he says that he bought the ticket for the march 16 super lotto drawing and he was the only ticket to successfully match all five numbers. he bought the ticket at a valero gas station in san jose making it a winner, too. the store will get $45,000 in retail bonuses. >>> a boat catches fire on the ocean off malibu's coast. the dramatic rescue that followed coming up. >> plus, working to help keep you safe when an earthquake happens. the new alert system the governor proposes. that's still ahead. >> from the kpix 5 weather center, good afternoon, everybody. you know when the coast is clear, we are the recipient of

the ridesharing company's long- term goal is to use self- driving cars to mitigate the problem of limitedrivers. >>> mcdonald's is testing out a new locally inspired flavor of french fries at four in the south bay, three in san jose and one in santa clara. the fries are made using a puree mix that includes ingredients like gilroy garlic, olive oil and parmesan cheese. if successful gilroy garlic fries will be available at 250 mcdonald's across the bay area. >> hm. >> sounds good. >> got to wonder why somebody hasn't tried garlic fries. >> they are the best. you can't eat just one. >>> a huge honor today for a bay area coffee chain. san rafael-based equator coffee has been named small business of the year for the entire country. today the ownerrers received their a-- the owners received their award in washington, dc from the u.s. small business administration. it's the first lgbt-owned business to win the award. the company has three retail shops in the bay area and plans to add three more locations by the end of the year. good for them. >> we love our coffee. coffee is important. >> oddly

also, apple is getting into the ridesharing business. >> we are going to talk about tesla tax breaksok has this morning's money business. >> retail sales for april posted the biggest monthly increase in a year. topping the list of what americans bought last month cars. checking in on the numbers on wall street this morning, the dow jones down just a little bit. the s&p 500 off just a little bit as well. jcpenney and nordstrom posting disappointing numbers. the retail news is helping the nasdaq. this index is up about 13% this morning. >>> sears is opening a store that will be dedicated solely to the sale of appliances. the retailer says that 10,000 square foot store will open next week in fort collins, colorado. sears says this will be the first of many all-appliance stores. but there are no details on where or when the others will be opening up. >>> hackers who stole $81 million from a bank in bangladesh are responsible for the hack of sony. they say it's so similar that they are very likely the work of one group. you might remember the u.s. officially blamed the north korean govern

so we would outsource that information and pull that in and display, the other information for ridesharing, car sharing, right haley, and bike share, we also : through there. >> they're saying hey we're 1.7 and in four minutes you can have a vehicle they're waiting. >> we have a clear explanation of this is we have a 20 minute radius this particular location. we are pulling in all of the access points and that radio's. in addition to the other information we also show the search. >> now is this public information? like the washington metro, and you are allowed to pull that in, is that free information? >> it is free to us. >> [inaudible question] >> what we're really trying to accomplish your today is to demonstrate how we can help the government transportation agencies, trying to deal with the information that they provide, people obviously found that real-time transit information is valuable to them. but being able to pull that information away from either the bus stop with the train platform also helps those people make smartest shoes smart decisions. cities are becoming more more dense

the other information for ridesharing, car sharing, right hailing and bike share, the data we pull through, we have partners. peter: [indiscernible] tony: they are our partner. in four minutes, you can have a car here waiting? radiuse have a 20 minute for this particular location. we are pulling in all the interactions within a 20 minute radius, and in addition to the other information, you can get on your phone, we show you the search before you actually have the opportunity to hail it. peter: is this public information? the metro and some of this. you are allowed to pull that in? it is free? tony: it is free to us. [indiscernible] are trying to demonstrate how we can help local governments, if they are trying to deal with the information that they provide, real-timee found that transit information is valuable to them. being able to pull that information away from the train platform helps those people make smart decisions about what modes of transit they want to use without defaulting to their cars. the other issue is, as time is going by, cities are becoming more dense. they are more and

there he announced a billion- dollar development in the country's ridesharing app. >> travelers flying out of chicago can't catch a break. hundreds of travelers were stranded at o'hare sunday night because long security lines kept them from getting to their gates on time. the airport offered them cots to sleep on overnight. the tsa plans to hire 800 new screeners next month to ease some wait times. >>> it's 4:57 right now. a petsmart employee facing animal cruelty charges. what he is accused of doing during a normal grooming appointment. >> and san francisco-based company uber says it will pay $100 million to settle independent place but the plaintiff in this case says it's not enough and that uber is shortchanging drivers billions. ,,,, phone rings "hello?" "yeah!" ♪ "a new friends coming here to sesame street."♪ if you're looking for freinds... "hi!!!" "hi everybody" "cookie" all-new it's sesame street live make a new friend! "hello everybodeeeeee!" no matter where you're from or where you've been... ♪"bakkaaaa ♪"count" ♪"me" ♪"in" sesame street live make a new friend playing the onl

if we look at the rise of all of the different rideshares, it gives ways to continued growth we have.e this you space? space asne leading the expansion and ongoing development of product's and services. -- of products and services. the strategy has not changed and -- vision is of the world we have never been so close as today. >> do you think it is car and car ownership? >> the biggest competitor is car ownership and it is intriguing and flattering that companies, like car manufacturers and supply chain organizations for cars are getting into this space. once, we were left at. -- laughed at. emily chang: a company is partnering with lyft. do you think of self-driving cars as a threat? it as a threat. you hear about a lot of companies talking about building a car. this company is not building a car. we operate and maintain a network where the members are and where the car needs to be and what sort of car needs to be there. we will continue to develop that technology and that information for the members. >> do you think that autonomous cars will happen in the next 5-20 years? >> i think

chinese ridesharing startup, uber.ow to the biggest drag on the nasdaq, the shares of amazon snapping a winning streak on a lack of any real news. when we take a look at a one-year chart, we see the stock has an trading in a range of uncertainty. more recently, bullish news, including a positive first quarter report. buyers overtook the sellers. the question is whether or not this can last. i am abigail doolittle. now more bloomberg markets. alix: this is bloomberg markets. i am alix steel. scarlet: i am scarlet fu. let's turn to the growing online art auction market. two leaders in the field are joining forces. backers, theyable sales.ade a few big c alix: the only copy of wu-tang album sold for $2 million last year. joining us now is the chairman paddle8, as well as the cofounder. congratulations on the merger. you are focused more on the u.s., not as much europe. what do you get out of this? expanding ourt category mix. the combined company will have the best of both worlds. lifestreamncredible video technology whic

toyota is investing in uber to explore a ridesharing partnership.al services corporation and mirai creation investment limited are joining together to make a strategic investment in the company. it will include toyota leasing special fleet vehicles to uber. >> the auto industry is being assaulted by all kinds of technological change. maybe the least of those is this concept of ridesharing, but it has really taken off. it has changed the way rental cars operate, the way taxis operate. it is a big part of the global fleet. it may change the way people choose to drive or choose one to own a car or not to. nobody wants to get left out. toyota has a lot of money. it is very easy for them to make an investment, kind of get there toe in the water and see what is there for them to learn. guy: the unicredit ceo federico ghizzoni has agreed to step down after only six years at the helm of the bank after losing the support of investors and share price capital as well. do they have to raise money? jonathan: they certainly need more capital. one of the issues it

they are trying to compete for users when you talk about all the different ridesharing companies. are there any parallels here with partnerships that toyota has done previously? to me, this smacks a lot of the investment that toyota did in tesla a few years back, were you saw a small investment in the company and a strategic partnership, where they wanted to get a close look at a company that was generating a lot of hype and interest. it was sort of on the up and up in the space that toyota was not playing in. in the case of tesla, was battery-electric vehicles, where tesla has been concentrating -- toyota is concentrating on hybrid vehicles and electric feel so vehicles, and they wanted a close-up look at what tesla was up to a few years ago. they made a small investment in the company and a deal for a vehicle. that is no longer a vehicle and production, but they still do own a small stake in tesla, said this does smack of some similarities. the one big difference is that for your invested -- is that toyota invested early in tesla's lifetime, where as uber, toyota is late here. r

. >> steve:what renegade rideshare drivers have to say after should have left on the curb. see who got caught in the crackdown. >> steve:stanley roberts continues his in-depth report on the drivers -- some who drive for uber and lyft -- who don't follow the rules and the consequences they face. that's coming up at tonight at 10! >> pam:there's been a lot of buzz this week about killer bees in the burbs. so we thought it would be a good idea to look into our local friendly honey bees and find a restaurant that's using them to sweeten up their menus. >> pam:tonight on dine and dish - vicki liviakis goes straight to the hive! >> vicki:a chop house is not where you might expect to find honey made "in-house." yes, here high-atop the omni hotel in san francisco's financial district - behind the warning sign you'll find eight full fledged hives complete with bees and roger the urban bee-keeper. >> vicki:yes, foraging all over the city from the rooftop. making honey for the hotel's restaurant downstairs - bob's steak and chophouse. chef thomas lays out some dishes where we might fi

rishaad: and these early ridesharing apps are raising millions of dollars on the day.t makes a strategic investment into uber. it has gone 8 a.m. across the emirates. 5:00 a.m. in london. good morning, i am manus cranny in dubai. it has just gone midday. welcome to "bloomberg markets middle east." are talking about the price of oil. volatility is telling us something different. take a look at this. what you have is the price of wti. and ratcheting higher getting closer to 50. where breaking toward the next opec meeting but look at volatility. artillery is dropping like a stone. the question is this. we have the nearest range of races in six months. volatility is up 30, back at the start of the year as you can see in february when we were in the eye of the global club storm, oil was at 28 but volatility was at the highest since february 2008. call before the storm? we saw him and tories drop and we get more data later today. this volatility may rise. rishaad: ahead of that maybe volatility will be on the way out. we had the norwegian oil saying that the oil market may b

, those folks are scared and tearful and are hedging their bets by investing in companies doing ridesharing. make of thedo you fact we are seeing more traditional automakers, not to mention apple, which invested a billion dollars -- it's not the typical silicon valley vcs who have raised billions of dollars but are not ending it yet. david: i think it is to the credit of ford and gm and now toyota and the w that they are getting in with both feet. they have to understand these dramatic changes digital technology, mobile and these other things are bringing to their industry. how thisally knows industry is going to evolve. smart companies despite their size need to be doing this. we have been talking a lot about the vc environment, down round and flat rounds and yet we see these big rounds in established players. are we seeing a bifurcation in the startup funding environment? guest: i think there are people doing small investments early, trying to get in very low valuations when things are just getting started. then there are folks who want to get in after the market has proven, hopefully aft

tim, gm made a big investment with the ridesharing company lyft. do you think that they were looking at this deal today? tim: maybe they felt like they i don'tal in lyft, know. you would like to see them do this there. they rolled out there early autonomous project called nv several years ago at the world expo in shanghai. it attracted a lot of people there, a lot of excitement. a lot of excitement they had not gotten in the states with this kind of program. hans, quick last question for you -- are we going to see a didi ipo? hans: they are focusing on what they can do in china. the global lines between lyft in china -- and also in india -- that would be interesting. this has gone global. it will be very interesting for the next five years to watch more developments like this happen. i look forward to continuing the conversation. tim higgins and hans -- thank you. manager from argentina is companies like tesla. he visits us next. ♪ brad: turning now to investments in south america. the u.s. ambassador to argentina is wrapping up a weeklong visit to

emily: earlier this month apple made a $1 billion investment in leadings -- china's ridesharing companyreports are swirling the -- targeting an ipo in 2017. timing will the 10 -- depend on the battle with market share with uber. let's start on the ipo, what do we know? is from us, 2017, we could be considering ipo in new york depending on the competitive -- there is differently wiggle room there. didi hasd has -- denied the report? >> yes, but i think it sets up the timeframe. emily: you used both services, what did you think? >> i think it is pretty clear there is one service that needs to work on quality a little bit. the other one, but uber has ways to go in terms of quality. drivers arriving on time, knowing the city. because more of an edge they are supposed to be paying higher wages, therefore getting drivers that know the city better. these are tell tell stories in beijing, where people tell you where a lot of drivers come from far away. there is a lot of work to be done there. i think it is probably not true that they have knighted at percent -- they have 99% market share. emily

to expose the into a rideshare car. instead of a taxi. >> pam:that special. in- depth report coming up tonight on kron 4 news at 10. >> steve: speaking out about a petition to ban donald trump. why she is against the ban? >> pam: >hi. is the internet still out? yes! i have nothing. come on! work together. work together. work together. do you got anything? i don't have anything. no i don't have anything. please come back internet. i love you. i love you so much. just come back. please. please. he's streaming a cat video. (family laughs) and the whole party is looking... can i take a look? mitch come on! get high speed internet from at&t with 99.9% reliability for just $30 a month. keep calm, your internet's on. lepe's foods is a locally owned here in santa rosa. as a small business, we're always looking to save money, and pg&e was able to help us. i help the small businesses save money and energy. it feels great. we looked at their lighting, their refrigeration system, and with just those two small measures, they were able to save a good amount of money. i was

are they caroline: going into the ridesharing company because they want to get into people's phones ande use of apple play? or is this like google and a moonshot? maybe they are even getting more. alex: we do not know the exact nature of what will or won't be shared between the two companies. this is the first official confirmation that apple has some sort of interest in the automotive industry. apple is doing something, developing some for of self driving or electric vehicle. system,into the didi gives them access to their driving data, that will help their autonomous driving push. theline: give us a sense of shivers this may be sending down uber's spine. they are saying we're going to see the ceo of uber go around to the headquarters of apple sooner than you might know. how will uber digest this? the ceo was relatively sanguine this morning. the post on twitter his girlfriend is an apple investor, and that makes her by inference didi investor. they have service in china that can be used for uber globally. uber is a fraction of the size of didi there. they made some remote just comment

also, of course, the news that the company is investing $1 billion in that chinese ridesharing startup. the chipmaker's second-quarter revenue forecast topping estimates after first-quarter numbers also beat estimates. the company said it's deep learning chips are performed pretty well. and it looks like a demand from gaming companies is doing well in helping fuel video sales. you see activision, blizzard, ada also on the rise. betty: oil is not faring well as the nigerian system gets worse. julie: you have what's going on in canada was supply coming back online. and you have nigeria and continued supply constraints there. exxon mobil invoking force majeure, basically saying it can suspend shipments out of nigeria without breaching its contract. supply back and forth. but you see some of the oil majors are under pressure here today. on the flipside, the airlines, which have been falling a little bit recently as oil has been rising, they are rebounding today is oil goes down. caroline: julie, thank you. we have suddenly got a rebound on our hands, it was going to be three days of losses

there's a deflationary impact because of all the technology and ridesharing apps that we use.hat for these governors has been the lack of productivity growth since the financial crisis. one of the reasons growth remains below trend. what we are looking for is this improvement in productivity to hopefully take the broader economy on to a more sustainable growth trend. francine: what does it mean for you look at economics. central banks haven't been to raise inflation. do we need a new set of models? what do you use? kamal: some central banks are now beginning that thought process, the riksbank certainly begins to think about the process, where potentially inflation targets sticking rigidly to 2% may give way to a range of 1% to 3%. central banks are concerned that hitting out of this financial crisis, we've not been able to get inflation on a meaningful uptrend francine:. francine: kamal, thank you so much for now. kamal sharma stays with us. we will be talking pound and possibly emerging-market currencies next. word.the r the danger of a u.k. recession. we talked brexit with i

ridesharing has changed the way people get around >>james:the there are dangers in jumping into a rideshareehicle you didn't call for. >>james:our investigation reveals rouge uber and lyft drivers picking up passengers. and cutting out the taxi cab. kron 4's stanley roberts was there for a san francisco crackdown. and explains why you need to think twice before hailing a ride. >>stanley roberts:this limo driver is in a little hot water .because he did something only a taxi can do in the city of fan franciso including the san francisco international airport is this your vehicle? it's your company's vehicle? can i see the keys please >>stanley roberts:only a taxi driver can be a taxi diver, and while that may sound strange. there is a problem where other people are pretending to be taxi drivers so you're uber and these are uber passengers ok do me a favor just sit ing the vehicle ill bee right back >>stanley roberts:so san franciso police and the sfmta conduct regular enforcement stings looking for rogue drivers, basically all they do is put two decoys out on the street to hail a ride >>stanl

♪ emily: earlier this month, apple made a $1 billion investment in china's's -- china's leading ridesharingny. didi chuxing. reports are swirling that didi is targeting a u.s. ipo in 2017. something the company denies. we spoke to the founder and -- we spoke to the founder and are bloomberg reporter. emily: what do we know and what did didi say? >> the report is from us, 2017, we could be considering ipo in new york depending on the competitive environment. there is some wrinkle room -- some wiggle room. it emily: didi denied the report? >> yes, but i think it sets up the timeframe. emily: you just spent several weeks in china. you use those services. what did you think? >> it is pretty clear that there is one service the needs to work on quality of little bit. the other one obviously, too. drivers arriving on time, knowing the city. didi has an edge because they are paying higher wages. they are getting the drivers in those cities better. a lot of people tell me, and these are telltale stories in their gene -- stories in beijing, where drivers come from far away. it is their first job. the

the dangers of jumping into a rideshare vehicle you didn't call for. our investigation reveals rouge uber and lyft drivers picking up passengers. and cutting out the taxi cab. >> pam:kron 4's stanley roberts was there for a san francisco crackdown. and explains why you need to think twice before hailing a ride. >>nats: ambiance siren >> stanley: little hot water .because he did something only a taxi can do in the city of fan franciso including the san francisco international airport is this your >> vehicle? it's your company's vehicle? can i see the keys please >> stanley:only a taxi driver can be a taxi diver, and while that may sound strange. there is a problem where other people are pretending to be taxi drivers so you're uber and >> these are uber passengers ok do me a favor just sit ing the vehicle ill bee right back >> stanley: the sfmta conduct regular enforcement stings looking for rogue drivers, basically all they do is put two decoys out on the street to hail a ride >> >> stanley:if you're not a taxi you are passengers. however apped based dr

in new york,an ipo and that may put the chinese ridesharing service ahead of uber and going public. put $1 billion in two didi, and that is $26 billion. alibaba is also an investor. tourism growth and $11 billion in stimulus have helped thailand's economy grow or than expected. from -- gdp 2% expanded more than 2%. analysts six back to -- there analysts expect weak demand. but in the latest on the markets. juliet is seeing global oil markets to it deficit sooner than goldman sachs had expected. juliette: they do have the crew to price higher. 1.4% in the asian session holding $46.85, the highest levels since november, holding onto x month highs. goldman has been surprised by the oil price. andan attacks in nigeria they sustained strong demands. goldman has up to the u.s. crude price for the second half of this year. that is out from $45 estimates back in march. this higher oil price has also helped out stocks in the region. we are seeing a more positive session. japan is back after a lunch break and adding to the morning session, gains up by 1.3%. we do have a weaker yen, but the po

. >>> toyota is teaming up with uber to offer rideshare. uber rider lyft and general motors have a similar partnership after gm invested $500 million in lyft in january. >>> hard to believe anyone thought this was a good idea. making park loving san franciscans pay for a piece of grass. a new reservation system has been met with tons of outrage. >> reporter: now we have yet another new reservation system as a result of that. what we're talking about is this grass right up here at the top of the hill that you could yes, reserve, and have all your own for a deposit and a fee. that did not make very many people here happy. >> reporter: deloris park was the battleground for san francisco's latest debate. the city changed its reservation system, those wishing to use portions of the open space, now don't have to pay. >> no more fees. we have enough. >> reporter: for years the city has charge add $200 deposit, and a minimum $30 fee for the use of deloris's picnic tables and some of the green space. park goers got angry. >> i think it's too much fo