i'm here with satya nadella and jeff immelt. thanks for sitting down with us. uncements today around the cloud for both of you. satya, i want to start with you to put it in context. it's clear what's in this for ge. i think they had a $5 billion digital business last year planning for $15 billion by 2020. how do you make this work for microsoft and boost the other cloud businesses as well. >> we are right here at a partner conference at microsoft. we are a platform company. when we think about what a platform company does, it creates an opportunity for other software and other platform companies. they are building out their own platform. it creates a huge opportunity for the partners at this conference to be able to build the internet of things and industrial internet solutions. as part of the solutions, they would wire in microsoft dynamics, office 365 and all of the other partner solutions. to me, it's that combination of platform capabilities that i think will shape the industrial internet. >> can we think of it being a potential industrial and enterprise on

hear what satya nadella had to say. morgan stanley ceo james gorman live and exclusive not just one but both, jim. >> really? >> yes. >> doubleheader. >> doubleheader. >> another look at futures. we're back right after this. you've wished upon it all year, and now it's finally here. the mercedes-benz summer event is back, with incredible offers on the mercedes-benz you've always longed for. but hurry, these shooting stars fly by fast. lease the gle350 for $579 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. the first stock index ♪ (musicwas createdughout) over 100 years ago as a benchmark for average. yet many people still build portfolios with strategies that just track the benchmarks. but investing isn't about achieving average. it's about achieving goals. and invesco believes doing that today requires the art and expertise of high-conviction investing. translation? it's time to bench the benchmarks. ailes. >>> microsoft looking up as much as 5% this morning, this adding perhaps to a do

microsoft ceo satya nadella is reorganizing his management team, making the move because operating officerevin turner will be leaving for a job at financial services firm citadel. nadella appointed julie: executives -- appointed two executives to head up sales. weeks after winning their first nba championship, the cavaliers are leading the league in merchandise sales, but steph curry has the nba's most popular jersey. lebron james has the second-most popular jersey, based on overall nba.com store sales from april to june. that's your bloomberg business flash update. julie: pepsi stock is gaining in today's session, reaching the highest level on record. the company boasting second quarter profits beating estimates, and boosting the full-year forecast. let's check out pepsico in today's "the numbers don't lie." pepsi was helped by rising sales of snacks and soft drinks in north america. by frito lay unit sales rose 2.3% to $3.5 billion, and revenue from beverages climbed 6.5%. pepsi says water and juice brands helped, along with organic friday's of tostitos chips. revenue has declined at an

the company generated its so-called intelligent segment and ceo satya nadella taking a moment to do a victory lap on that loud business. >> overall the microsoft cloud is winning significant customer report with more than 12 billion in commercial crowd annualized run rate we're on track to achieve our goal of $20 billion in fiscal year '18. nearly 60% of the fortune 500 companies have three of our cloud offerings. >> nadella also point out as the revenue popped 102%, that is the company's cloud computing platform, microsoft trying to keep up with amazon which is still the leader with cloud infrastructure technology, but microsoft has advantages of its own, big sales force, long-standing client relationships. simon, back to you. >> josh lipton joining us there from san francisco. let's trade it, pete. >> it's all about speed and movement. nadella has done an outstanding job of getting the focus and he's gotten everybody's focus pack on the cloud. they're up 100%. these are incredible numbers they have been able to produce and they're doing it as we watch the pc world start to go toward

don't miss microsoft ceo satya nadella live at 10:30 eastern time. >>> tomorrow is amazon's prime dayn't sitting idle. the retail giant eliminating the $50 spending limit for free shipping for five days to battle against amazon's big shopping event. >> a scary moment for aerosmith guitarist joe perry. he collapsed during a concert last night in coney islands with hollywood vampires in new york. he stumbled off stage. video shows perry sitting down on the front of the drum platform, standing up and stumbling off stage. right behind a stack of speakers. the band posted on facebook that joe perry is stable and resting. he's 65 years old. i think it was a serious health issue. i don't know if it's completely what it is. >> listed as critical overnight. >> in the old days, you know, sitting there, stumbling off the back of the stage. >> would have thought something else. >> or wouldn't have meant anything. with the old aerosmith or anything. >> it wasn't a real concert -- >> unless someone was stumbling around somewhere. johnny depp is in the band and playings guitar. >> and alice cooper.

. >> talking to is satya nadella about how you plan where to put your data centers for cloud and in a world that's fracturing they potentially need more data centers. >> nice name drop. >> yeah, it was. >> about peter thiel and there was a piece in "the new york times" about how he's going to have, you know, some people are not going to be very nice to him from here on out and so i wonder if that -- he doesn't need them necessarily. >> if you have enough money in silicon valley you're not worried about people being nice to you. >> it's unfortunate. the guy is allowed to be a libertarian and in silicon valley. andreessen is not exactly a communist either. >> that's a delicate way of putting it. >> that's me. delicate. >> mr. delicate. >> yeah. >> new nickname. >> not your typical silicon valley communist that loves capitalism. but don't they over there too. real is touching a ray. amazing is moving like one. real is making new friends. amazing is getting this close. real is an animal rescue. amazing is over twenty-seven thousand of them. there's only one place where real and amazing li

nadella iseo satya reorganized -- we organize his management team. leaving the company after more than a decade. he will become the chief executive of cedar dell -- citadel. instead of naming a successor, he is appointing to executives to give you the responsibility's. that is the bloomberg business flash update. joe: payroll processing company adp says business added 172,000 jobs in june, and it could be a good sign for the report tomorrow. economists are pretty get a rebound from the previous disappointing months, but rigas and when june shows, the last five years have seen a steady decline in the jobs report, so does that mean the jobs market is close to fully healed? let's ask william spriggs, the chief economist for the afl-cio. 4.7%.oyed rate at from your perspective, does this mean the labor market is close to full employment? mr. spriggs: no, it doesn't. we have quite a bit of slack in the labor market. the u.s. supermarket has not been performing well when it comes to labor force participation. that is because wages have not picked up as muc