scarlet: athletes have benefited from globalization.thletes competing for a country , a country of their parents birth rather than they were -- where they are now. you see that dynamic changing? >> the world is becoming a atller place and if you look the various communities around the world, they are all becoming more diverse. i think it is inevitable. thing about the olympic games is it is a values-based movement. the besth of us being we can be and overcoming obstacles and challenges. a good beacon for all of us to have as we deal with these issues happening, not just in the u.s., but all around the world. scarlet: you worry we will go back to the era before thoughts? >> -- arab boycotts. >> i think we learned our lesson in 1984 and it is critical that the- when we compete in olympic games, we not engage in boycotts. scarlet: los angeles bid to host the 24 -- 2024 olympics. this donald trump's rhetoric helped or hurt that? >> that is up to the voters. we never really know what is inside their heads. that the kellyu bit is the best bid

. ♪ scarlet: live from bloomberg's world headquarters i'm scarlet fu.resident trump promises action on taxes. joe: the question is, what did you miss? scarlet: the president said he would advance campaign promises to lower taxes, lifting stocks to new highs. in earnings even president trump's constant tweeting wasn't enough to boost a company twitter. twitter reporting a profit estimates.t missed we will be hearing from nigel travis in just moments. joe: let's look at where the major averages stand as we head towards the close. be a gill doolittle is standing by. abigail: well, we are looking at records for the three major averages in the u.s. we have the dow, s&p 500 and nasdaq all nicely higher. up to half a percent and each of these averages is on pace to finish at a new record close. a bit of bullish action for these stocks on a snow day day in new york city. let's take a look at some of the movers related to brands. sales were beat by 7.5%. it was driven by taco bell and k.f.c. domino's really was a lager -- excuse me -- pizza hut was a lager. that

scarlet: thank you.e both stick around and talk about hedge funds. ♪ scarlet: a miserable new world for hedge fund managers, average annual turn well below most index funds. that is causing investors to jump ship. peter knows the landscape well and is currently the chief strategist of a fund that lance for proprietary trading. much as we talk about how hedge funds have had a miserable go at it, do you see it accelerating this year? check three. >> investors in hedge funds have to give money to those who have the potential to do well. we think smaller and more nimble is better. the worst thing any manager can have in a bull market is risk management because time bills you out. every successful hedge fund has of thenagement because nature of the business. you survive, you win. do?-- what do i anything, we do can all look at hedge fund stocks that have destroyed managers. keep youro discipline. at the end of the bull market, if we think there will be a correction, you want to be more active. you can explain

scarlet: u.s.tocks climbing to highs and then retreating from those records while treasuries advance. joe: the question is what did you miss? scarlet: in politics, details on fiscal policy remain undelivered. conn's and ministration returns to court to extend the executive order banning some travelers from the u.s. disney will report its first quarter off -- first order offerings in less than one hour. finding a replacement for ceo bob iger. in markets, eyes another company. this time it is motorola -- motorola solutions. at where theok major averages stand as we head toward the close. abigail doolittle is standing by. abigail: ever so slightly mixed trading averages. the dow and the nasdaq trading higher. following the dow and the nasdaq putting in new record highs earlier this morning. a choppy session for all three averages ever since. it really exemplifies the dow and the nasdaq did not go negative only very briefly. the s&p 500 has been flipping between small gains and losses, telling us there

. ♪ scarlet: live from bloomberg's world headquarters in new york, i am scarlet fu.oe: i am joe weisenthal. scarlet: major u.s. indexes lower today with retail stocks on the slide. joe: the question is what did you miss? scarlet: lawmakers and investors and the american public eagerly awaiting the -- the president to provide clarity. traits most at risk at record highs or roundabout, it begs the question which will be most vulnerable and what strategies would outperform. bond market, skeptical the federal reserve could hike rates in over two weeks. now, you areg looking at video of john williams speaking at the santa cruz chamber of commerce. headlines saying up march is very much on the table for serious consideration. you see the reaction to that, dollar higher on the news. he characterizes the current stance of monetary policy as, still has the pedal to the metal. easing mode but once to avoid the economy getting too case for gradual easing. he wants to keep the expansion on sustainable -- not undermining the fed's hard-won game. >> interest-rate increase in march

scarlet: u.s.stocks climbing on the signs of strength in the economy and relaxation on bank relations. joe: the question is, "what'd you miss?" scarlet: banks are driving the s&p 500 higher as trump takes executive action to scale back the dodd-frank law. onwill hear from ken bentsen the orders and the latest on the fiduciary rule. in an exclusive interview with bloomberg, the san francisco fed president says a march hike could be a possibility. his comments are coming up. now let's look at where the major averages stand as we head towards the close. abigail doolittle is standing by. aigail: we are looking at very nice rally for u.s. stocks heading into the close. dow, s&p 500, and nasdaq all nicely higher. the dow is back above 20,000, an important psychological milestone, on pace for the best day since the beginning of december. we have the s&p 500 and the nasdaq turning ever so slightly positive on the week. we are ending the week on a positive note after some aeration action earlier. as scarlet

scarlet: u.s. central bank officials holding the benchmark interest rate steady, but did it announce confidence among consumers? facebook reports fourth-quarter earnings after the bell. we will look at how instagram is ramping up, but advertiser gross could be heading at speed bump. backlash on immigration. i sit down with cornell university president hunter rawlings. u.s. stocks are modestly higher with the s&p up, if you rounded up, by .10%. joe: the question is what did you miss? majorlook at where the averages stand as we head toward the close. abigail doolittle is standing by. abigail: we are looking at small gains. in the u.s., we have the dow and the s&p 500 up fractionally, with indexes flipping between small gains and losses all afternoon, right now trading slightly higher. than .5%, is up more helped by its overweighting to apple. if themportant to note s&p 500 happens to turn back down, it would be a five-day losing streak for the s&p 500, and the longest such streak since november. it w

scarlet: got it.o they have done some of that produced confidence, but there are good reasons why they are keeping it to a limited amount. joe: i want to go back to the u.s. situation, looking at the breakeven rates. this goes back one year and you can see how much they rallied since the election. now they have rolled over a little bit. so my question is, going into the next fed decision as they think about how many times it will hike this year, what will be the impact of these market-based measures if inflation continues to slide? robert: it is a complicated issue. they are looking at this and the underlying drivers, and if you look inside the cpi, you have volatile food and energy components, but even if you take those out, you are around 2% right now. but really, what is driving the entire increase in inflation is housing and medical costs. and those are rising significantly higher, everything else in the economy is growing at about 1%. so the medical is not really something that the fed is going t

am scarlet fu.oe: and i am joe weisenthal. scarlet: stocks in the red. joe: the question is "what'd you miss?" scarlet: is the rally showing signs of falling? well. not in politics, a federal appeals court could rule as early as a saturday on president trump's executive order on immigration. could the legislation be contested in the supreme court? it'd finance, president trump may have signed executive order to scale back dodd-frank but lawyers and officials say it starts a long and complicated process. we will explain why. ♪ joe: let's look at where the major averages stand as we head towards the close. abigail doolittle is standing by. abigail: what we're looking at is very small declines for the major averages heading into the close. all modestly lower. nonetheless we're looking at a bit of a pullback after last week's mixed action. this is considered to be one of the growth year indexes. it is interesting to note it is down a bit more. as for what is behind the push on the s&p 500, these are the

scarlet: 5965.s a lot about government bonds, whether the rates will rally, this is a chart of u.s. investment and japanese investment. you can see a big selloff, worse since the taper tantrum. there is an element of growing concern overseas about this administration, a little bit unclear. but it started to catch people's attention for foreign investors in u.s. government in bonds. they have been selling off at a fast clip here he japanese are big holders, you can see the pace of the outflows. as is priced in yen. scarlet: these are japanese private investors. you also have the central bank cutting back their holdings of the u.s. treasuries as well. joe: we are showing no one adding to their u.s. treasuries right now. so stocks are rising to fresh records today, treasuries are lower. our next guest says bond bears, beware. they risk the treasury market catching too many people on one side of the boat. joining us now is an equity strategist. great to have you back on this show. bet inhey are making o

scarlet? scarlet: thank you mark.t points, the other day and the nasdaq it has gone off a little bit. it is kind of a reversal of the previous day. you had treasuries rising yesterday, as of the yields move higher. not much change and economic data. it is still showing the economy growing nicely. joe: a quiet day for equity. we are going to see a reversal in the inflation trade. abigail doolittle is standing by with a technical look at the future. >> thank you so much. so one of the big stories recently has been the 10 year yield, we saw that huge move higher, are we going to continue to move. or are we going to see a drop back down. we look at these charts next year. this is a four-year chart of the 10 year yield, we are looking at a downward and. what i wanted to ask about is we goinge the 10 year yield just well above the average. the last few times we have seen that, in two other cases, what do you think? >> i do not read the charts like this, i will see this inflation continue. i think the big indicator is the or

scarlet: thank you.h ico of the year prices this week, but does the number support the evaluation? we talk about snap, next. as a bloomberg. ♪ ♪ ♪ snap's roadshow is in full swing. it has investors divided on the company's future. maintaintend they can engagement while bears 20 twitter. let's bring in bloomberg's ipo reporter. also from san francisco. when it comes to successful ipo you could say do not do it facebook did and do a twittered it, but when it comes to a successful listing overall, facebook's odyssey the better example. guest: no one wants a trading technology glitch like facebook. with twitter, the ipo seem to go off without a hitch. it sold all right, then traded well on the first day. as we saw the next year and a half was tenuous and then they fell off a cliff when they did not live up to the promises they were making on the roadshow to being a public company. joe: this is the biggest tech ipo in a long time. people are always complaining about the drought of the tech ipos. how important

scarlet: all right.ig had an exclusive story for bloomberg businessweek on andrew puzder recently. be sure to check it out on bloomberg.com. early in president'-- president obama's's tenure, he became the point person for constructing a new set of regulatory structures designed to make sure the 2008 crisis was not repeated. last week, the governor announced he is stepping down in just over a month. in an exclusive interview, he joined bloomberg radio and was asked what remained broken in right with tory structure after eight years in the fed. areas wehink the two are trying to concentrate in in the last eight years, still need attention. the first those, of course, the largest firms characterized as too big to fail. there has been a lot of progress there but more work is needed. the nature of the crisis in 2007 and 2008 reminded us that the nature of funding in the financial system in which traditional lending and capital markets are so integrated is just as runnable as in the 1920's when they were not i

scarlet: thank you..cvey at kkr he tells us what sectors he believes be most impacted by moves to cut regulations. from new york, this is bloomberg. ♪ scarlet: this is "bloomberg markets," i'm scarlet fu. oliver: i'm oliver renick. kkr's 2017 global macro outlook is out, and it revolves around four main themes. on bloomberg daybreak: americas, erik schatzker sat down with the head of global macro asset allocation described the current paradigm shift. >> this is the first time in 15 or 20 years where we have an inflection point, and what we are to highlight is a couple of things. major shift for monetary to physical, which i think is a big deal. we have had all the central banks running the show, and now you have government spending driving incremental growth. it's a big deal with applications for growth as well as rate and volatility. the second thing i would say is we are moving globally. i travel all the time, and the authorities we are speaking with feel like we are moving from global agendas to domes

scarlet: i am scarlet fu.ual gathering of investors in new york. joining us is bloomberg banking reporter laura keller. what time do we expect an update on profitability targets from the bank? laura: usually every year the cfo of the bank comes out and drills down on these different things. analysts we talked to do not expect much of an update. there is the $30 billion net income goal they have and it is not something most analysts believe will change. there will be an area to talk about how taxes will change. will it make the bank more efficient/ of course, we are always talking about interest rates rising and how great that is for the bank. it is something you have to think about, if the yield curve is really going to pop, how are you going to do this, jamie dimon? how are you going to increase profitability? is a going to be loans from consumers? to get it -- is a getting companies comfortable with the tax infrastructure to make these deals? had earnings in january and have another one in april in a couple

scarlet: i am scarlet fu, welcome to bloomberg markets.world headquarters for the next hour, and we will be covering stories in san francisco, washington, and china. kerala top stories we're markets, thein trump trade has been argued with the story of the year and investors at bank of america are getting in on the action, causing ways in the etf market. in business, earnings season continues in full force. we will dig into how facebook is tapping into more users in today's "the numbers don't lie. coast jeff immelt -- ge ceo jeff immelt weighs in on's views onon trump's immigration. julie: a stock wise, there is not much going on. turned the dow, which slightly lower after the statement. now slightly higher. stocks overall, not much change. where we saw activity was in the bond market, in particular, the shorter end of the curve. yields remitting higher on the two-yeard, but the note, as you can see, saw a drop in yield. now an unchanged level, following a statement from the fed that showed they are staying the course, sticking with two to

scarlet: and i'm scarlet fu.after forecasts were lower than analysts expected. they are trying to lure customers back in their stores. joins us fromlyst our bureau in princeton, new jersey. focusing on price would mean target is taking on amazon and walmart. has anyone done that in retail and come out ahead? guest: no, they haven't. you think of price and you think of walmart and amazon. target's move to go after the price business seems to not really be what they need to do to drive traffic. they need to add categories and repeat trips. i would have expected them to talk more about food or something else that would draw more visits to the store because as a target shopper and red card member who shops target, they are there because they like the quality and they likely target has to offer. they are not necessarily there because the price. scarlet: by focusing on the price, they put themselves at risk. if you come inside the bloomberg, you will see target in blue and walmart in right. -- in light. you can see whe

scarlet: i'm scarlet fu. the u.k.ng a possible frexit. what does all of this uncertainty me for investors? joining us is my cohost. we will be talking about it all year. this is back again every six months to a year, we are talking about stresses in the eurozone. now, it is really all about france and people are trying to figure out who is going to make the runoff against le pen, and if they do make the runoff, how comfortable is there leave? -- lead. ? scarlet: we saw the spreads widened between french that and german debt. on monday, you saw this huge spot -- this huge spike. the concern has waned a bit, but it will be pretty rocky from here on out until april. >> that is probably the case. it is hard to imagine people being comfortable until this is over. even with the poll showing le pen topping out at 35%, you just get this feeling that nobody wants to say that she cannot win . nobody wants to be that person. nobody wants to be -- even if all the polls show that she is so far beyond, nobody wants to be that perso

scarlet: i'm scarlet fu. time now for the bloomberg business flash.ody shop, the british band that spearheaded the trend for environmentally minded products. they discuss their options in a bloomberg exclusive. >> [indiscernible] we have really done our best, in the past two or three years, now we have come to the conclusion that both for them and for l'oreal, it would be better to explore new options. with abe another owner different ideas, or maybe different constraints could be more successful. lori l but the body shop in 2006. it has more than 3000 -- l'oreal bought the body shop in 2006. it has more than 3000 shops. -- shares ofls sears cut pension obligations by $1 million. the latest quarterly report, sears posted a loss of $748 billion. -- $748 million. that is your business flash update. oliver: doubts about how president trump's growth policies might materialize. chorlton. is andrew this is curious, there's a lot of expectations here, but as we look towards a rising rate environment, perhaps, are investors going for yield instead of the capi

scarlet: i'm scarlet fu. roll bak the form put in place after the financial crisis. we go to kevin cirilli on capitol hill. by senatore joined mark warner of virginia. we will talk about dodd-frank but also the intel committee in the senate and president trump's ties to russia. what did receiver see regarding the executive orders out of the white house? sen. warner: as the vice chairman of the intelligence committee, it is my responsibility to shepherd through this investigation. yesterday we saw a slight tweak and relaxing one of the sanctions on russian spy agencies. while it is minor, i just want to make sure the administration knows they have to be put on notice that they should not be rolling back any of these sanctions. kevin: most experts who look at this said it was a technical fix. sen. warner: it was a technical fix, from my own business, the cell phone industry. but i hope it is not a test of the resultant congress command frankly bipartisan, because we need to keep the sections on not only because

scarlet: thank you.erkeley join us to talk about global trade policies and what the trump administration gets wrong when it comes to nafta. this is bloomberg. ♪ [ alarm clock beeping ] weather. ♪ [ laughter ] cartoons. wait for it. [ cat screech ] [ laughter ] ♪ [ screaming ] [ laughter ] make everyday awesome with the power of xfinity x1... hi grandma! and the fastest internet. [ girl screaming ] [ laughter ] you're a funny guy. best of the oscars. funny how? how am i funny? scorsese finally wins. could you double check the envelope? show me best picture. what's the difference? show me best actor. i do not take tonight for granted. thank you so very much. get all the greatest scripted and unscripted oscar moments on xfinity x1. the oscars, live sunday, february 26th 7eÂ4p on abc. >> let's get the first word news this afternoon. national security adviser michael flynn apologized today to vice president mike pence about his pre-inauguration authorization with the russian ambassador. he has apologized for

scarlet? scarlet: thank you so much, mark.ps that are worth ire of your money. e get the trading picks. this is bloomberg. ♪ scarlet: let's head over to julie lieman for today's spider report, looking at transports. julie: i'm looking at the x.p.n. today, which is the spider transportation e.t.f. it's down about 1.5%, and this has to do with earnings, but also some sentiment surrounding various members of this e.t.f. i do want to look back before we look at what's going on today. this is this e.t.f. over the past year, and this is just the various moving averages. so you can see it got a big bump up post-election on this optimism over infrastructure spending, on tax reform. since then it's kind of moved sideways, and this latest down move takes it below its 50-day moving average. after sort of moving sideways, the momentum is now more to the down side. what's spurring it in that direction today? rider systems was out with its numbers today, and they missed estimates. the company also coming out with an outlook for the first qu

fourth placed glasgow lost to scarlets.ond placed ospreys were comfortable winners over bottom of the table zebre. ulster beat edinburgh. well, the rugby continues this weekend with round two of the six nations. wales welcome england to cardiff, whilst scotland are in paris to take on france, a place they haven't won since 1999. let's get some team news, beginning our round up in rome where ireland face italy in the first match of the weekend. it was a captain ‘s run with a difference this afternoon for ireland, as no captain was attendance at the stadium. rory best to so often leaves from the front was back in his hotel room nursing a stomach bug he picked up overnight. the irish camp are confident that the 34—year—old hooker will be fit and ready to go against italy tomorrow. there are always things that crop up in the course of a week. i think how we react and respond to it will hopefully allow us respond to it will hopefully allow us to continue the preparation. u nfortu nately us to continue the preparation. unfortunat

scarlet: i'm scarlet fu.r: we are live from bloomberg world headquarters in new york for the next hour. plus, we will be covering stories in chicago and tokyo. here are stories we're following on the bloomberg terminal and around the world. once again in the grain for the seventh straight day of gains, giving the s&p 500 longest streak since 2013. a lot of cabinets falling in d.c. but not in the equities market. softbank, three point $3 billion. in politics, reports say andrew poster -- puzder has withdrawn himself from labor secretary. let's check out all the markets which are going pretty crazy right now. i would love to have a political volatility index versus the vix. the political volatility would be off the chart. oliver: what specific volatility now? >> maybe you should develop that. all three major averages rising. they are at records as well. the s&p isght days higher, the longest winning streak going back to september of 2013. indeed, it is notable for a number of different reasons. now we are on th

scarlet? of the recently acquired media link about my markers need a more corporate ford. what that would do for the companies and their profits. this is bloomberg. ♪ oliver: time for the biggest business stories in the news right now. that is corned people familiar with the matter. nearly 2% today, market value to about 5.6 billion. netflix is expanding to toys and merchandising to capitalize off some of its hits shows. looking to hire an executive to oversee licensing for shows. comic books and toys and forge partnerships with retailers. netflix alsoar say --ed for consumer products according to stake people familiar with the matter who say copenhagen-based , theries, a potential bid share is worth about 1.2 billion based on data compiled by bloomberg. bloomberg's newsflash update. scarlet: the parent company says it intends to buy the group media link. caroline hyde caught up with the ceo at the conference in california yesterday. to i corporate boards need to include more markers if they w

scarlet: is that a bad thing?e trying to aggregate a naughty ins over a long period of time. you want as many -- aggregate an audience over a long period of time. the nfl is still incredibly powerful are affiliates, television stations, and advertising and marketing partners. whatet: do you worry that the nfl has gone through is applicable to other types of sports? mark l.: the difference with the nfl versus baseball, basketball, hockey, is that it is exclusively a national sport. there is not your local team to go watch through a regional sports networks, which we own nine of them and have great partnerships with those teams, but it's still a national sport. they are still as relative -- there is a scarcity of games. it's a short season. each team only has 16-game season. every game really matters. ofrlet: on the other end the spectrum, when we have the next olympics, it will be held in asia. there were be so much content -- there will be so much content that you can't fit it into the u.s. viewing day. how will y

when her mother called for scarlet to breast-feed.hat's when melissa says the nurse brought the wrong baby. >> nobody ever checked. >> reporter: nobody ever checked hospital wristbands. so 20 minutes into breast-feeding she says the nurse burst back in with startling news. >> she actually said there was a terrible mistake. this is not your baby. th >> they gave her someone else's child. she breast-fed this child for 20 minutes. >> this was like a hospital catastrophe. >> reporter: now she is suing valley hospital. they said the baby mixup wasn't just a harmless mistake. >> it's not a simple error. >> reporter: after she breast-fed the wrong newborn, she says she ran out of colosstrum. >> she was frustrated and upset because there was nothing left for her. >> reporter: a rep from the hospital declined to comment. the richmonds say they are especially troubled by their hospital records. they say the mystery baby started feeding between 4:00 and 5:00 in the morning. anything unusual happened at that time. >> who is that other baby? is th

scarlet: i am scarlet fu.: we are live from bloomberg world headquarters in new york for the next hour. we will cover stories from washington, atlanta, and china. here are top stories from around the world. the nasdaq and dow jones touching all-time highs failing to build on that momentum. the dollar strengthened against most of its major peers. we are from senator bob casey, a democrat who helped leave -- leave the campaign against betsy devos's nomination. what does this signal about further issues with congress? just below three chilean dollars last month falling to the lowest level since early 2011. policymakers and their rattle against outflows. an hour away from the close of trading, we will get a check with julie hyman here julie: it does not feel like a big record day. moves in thehese major averages. as weuching records today have got an updraft going on particularly in consumer staples. take a look at the bloomberg here. we have come to this frequently over the past month or so. moves on the closing

in the desert you have to of scarlet fever. she was only 2 1/2 pile rocks on top of the grave, and has evolved into a token of remembrance. sometimes you will find a claim left at the grave. that from our greek mythology represents the fairy man who takes us across the has evolvedo a token of river -- fe rry man who takes us across the river to the underworld. we are at the grave of jefferson davis and his family. jefferson davis was a graduate of west point, a mississippi cotton planter, a member of the house ofates representatives, a u.s. senator, secretary of war to franklin pierce, and the only president of the confederacy. he was married to farina howl. her family was from the north. her grandfather was four times governor of new jersey. unfortunately, she was from a large family, she was one of nine children, and her father had difficulty supporting the 18, sheso when she wasgovernor was engaged to jefferson davis. he was 18 years her senior. they had six children and 4 sons and 2 daughters. none of the sons live to there

scarlet: i am scarlet fu.he would spend $1 billion on infrastructure, that is something that global infrastructure partners have been doing for over a decade read this firm has several assets including ports and pipelines rated as well on the north sea. jason kelly wrote a piece on the firm and their history from bloomberg magazine. he joins us now with more. what is their strategy, what do they do more? >> we did not talk about infrastructure for a long time. all of a sudden it has been this sexy topic that people talk about a cocktail party. something that was really associated with ports and toll roads, parking lots, it is kind of boring stuff, it did not require a lot of work. did, they were founded by a couple of ex bankers, if they said they are going to buy something let's get things we can fix. airports was the think they started with. >> we heard people talk about airports as well. pointhey gotten to the where they can now adapt their own strategy. >> what is interesting about airports specifically is

scarlet: breaking news on brexit. the u.k.'wer house of parliament gave theresa may's government its approval to begin the formal process of leaving the european union. this was a vote that was taken and it was approved in the house of commons. when it comes to theresa may's self-imposed deadline of march 31 for beginning these brexit talks, is the government on track for that after this vote? svenja: absolutely. it's like looking pretty secure. of course the bill now has to go through the upper house, the house of lords, but this was the stage that theresa may feared the most. there were a couple of amendments which had quite a bit from support even within her own party, but she managed to clear all these hurdles. quite symbolically, as the last amendment was defeated, the scottish national party mp's broke into singing the ode to joy which is of course europe's national anthem, which really shows that as far as brexit is concerned, it's now pretty much a done deal. scarlet: president trump is criticizing a department store ch

scarlet: espn was the crown jewel for disney. we have said that for so long.s also super consistent for the company. the biggest profit generator. what other parts of the business does disney have that can make up for that? >> the two big areas that they've been leaning on, i think they will continue to lean on because they continue to invest in them the theme park business ,. they just invested $5.5 billion in shanghai. they are building cruise ships as fast as they can put them in the water, which are all good business for them from the theme parks and result resorts businesses, and also the theatrical business, the film business has been an incredible, consistent profit generator, unlike any other studio that has to deal with the hits and misses of making movies. for disney, it has been almost a straight linear line up from the operating of their film business. those two businesses are offsetting what has been a surprisingly, i think, greater than expected decline in the core cable network business particularly at espn. , scarlet: breaking news on brexit. t

caroline: facebook's global head of sports, speaking with scarlet fu.r this edition of bloomberg technology. a quick programming note. with the will speak stanley fischer. york, 11:38t in new in london. this is bloomberg. ♪ . . ♪ our studios in new york city, this is "charlie rose p are cap -- charlie rose." al: welcome to the program. i'm al hunt filling in for charlie rose. we begin with a conversation about michael t flynn. he had served on the job for 25 days. agents interviewed him in the first days about a conversation he held in december with the russian ambassador regarding sanctions levied against russia by the obama administration. soon after the interview, acting attorney general sally yates told the white house she believed flynn had

scarlet: what do you think? that profitability is a number 1 -- it's like on all of our what -- whiteboards. like, profitable. it's naming the freedom that you have to pursue a different path forward. for instance, in the media world, a lot of potential acquirers won't really want to talk to you unless you are profitable. it hits their bottom line, ultimately, if they are a public company. try that equity firms, the same thing. so, i think that that lever is actually a massive lever in a business in terms of the way you want to exit. at the same time, i think that a lot of entrepreneurs or want to be entrepreneurs and get the only way to do it is to raise venture capital. one of the biggest pieces of feedback that i give people is to really think that through. because you can build a good business that is solidly profitable out of millions of dollars and have a great lifestyle and you don't have to carry the burden of a we all go through in terms of venture capitalists and growth numbers and all of those things.

scarlet fu dove into earnings today in numbers don't lie.rtance of espn is apparent in disney's operating income. the network group made up half of the uprooting income. is the and is dipping's highest rapid generating -- is disney's highest profit generating network. the tv bundle concept is starting to lose favor. espn saw its ratings fall 20% in -- 11% in 2016. the u.s. subscriber base alone -- shrunk to 90 million. disney says it will launch a subscription-based online version of espn this year. while the network is gaining new streaming services, revenue remains under pressure because of an erosion of its traditional customer base. outside the television network, disney's movie division has been a bright spot, delivering record profit. the division made almost $3 billion at the box office last year alone. let's not forget the disney theme parks. it is the world's biggest themepark operator. the opening of a park in shanghai did weigh on profits. disney does expect to break even on the part in fiscal 2017. in the meantime, it is expandin

. >> -- in four scarlet fu.nvestors are scooping up equities on janet yellen's comments on capitol hill. in economics, yellen told lawmakers that more rate hikes could be appropriate if the economy stays on course. yields added five basis points after her testimony. in politics, president trump just weeks into his presidency and his national security team is racing to find a new advisor in the wake of michael flynn's resignation. plus, we go inside the sports business later this hour. joe: we have breaking news. will be, donald trump meeting with the ceos of some retail companies, target, walgreens, they will be meeting with the president. should be interesting in light of some of the tax debates happening regarding the border adjustment tax which could affect them significantly. julie: they have formed a lobby of some sorts to lobby against the border tax saying it would be harmful to their businesses. we will see what that exchange looks like. joe: very interesting to see those comments. it's look at what is m

caroline: facebook's global head of sports, speaking with scarlet fu.for this edition of bloomberg technology. a quick programming note. tom keene will speak with the stanley fischer. look for that in new york, 11:38 0 a.m. in london. this is bloomberg. ♪ roar, traders tuned out. the first record high in 18 months. inflation sensation. u.s. consumer prices increase the most in four years. where does rising inflation leave the fed? and the trump tension rises. administration rights more fires at home. ♪

isinhis sffsflési‘sshss ' , s with the scarlets, has been chosen to captain scotland siilii—h ssilii iiiaw — and barlcay is replaced by ali price at scrum half. scotland coach vern cotter, who makes five changes, says barclay is the right man to lead out his country. he was involved with others and it was obvious she had something about him and he has come through and it isa him and he has come through and it is a credit to him from getting back m, is a credit to him from getting back in, forcing his way back in and now he will run out as captain of the tea m he will run out as captain of the team against wales, where he plays his club rugby, is it is a great day. fly halfjohnny sexton will return to the ireland side, for their match against france in dublin on saturday. sexton missed ireland's first two games with a calf injury, but has been named in the starting 15, with paddy jackson, dropping to the bench. captain rory best, also returns at hooker — having missed the win over italy, through illness. rob kearney is fit, and will start at full back. it's an exciting time getting the ke

flankerjohn barclay, who plays his rugby in wales with the scarlets, has been chosen to captain scotland at murrayfield on saturday. he replaces the injured greig laidlaw, who is replaced by ali price at scrum half. scotland coach vern cotter, who makes five changes, says barclay is the right man to lead out his country. it was obvious that he had something about him and he's just come through and it's a credit to him for getting back and forcing his way back in. now he will sign out as captain of oui’ now he will sign out as captain of our team against wales. he plays in wales for local rugby. johnny sexton returns to the team for the game against france. he has been named in the starting 15, paddy jackson dropping to the bench. rob kearney is fit and will start at full—back. there could be another big, big fight on the way for boxing fans, as a deal is being negotiated for the world famous star manny pacquiao to take on britain's own amir khan. pacquiao's twitter followers recently voted khan as the opponent they would like to see him fight next. khan hasn't boxed since a defeat, to sa

i had an all access pass, scarlet call to jesus passing you can literally go anywhere.m going to find out if i can have that are not. the come to jesus pass. >> hallelujah. >> okay tweet some selfie's. thank you. >> thank you guys. >> one filmmaker dan shows us in his new documentary is that the town of seabright may be disappearing before our eyes. >> i just uncover that this was a huge deal. a a lot of people are ignoring. >> it is been to week sense trump surprised everybody. >> it's president trump now, actually. >> he's in the white house. >> no not at y . >> sorry, sorry,. >> i got it. valentine's day is a time for celebrating love. on tuesday, people all over the country will be taking their significant others out for a romantic a romantic meal, and of course exchanging gifts. what will the single people do? that is where we commit. here are chasing news, we have organized a new type of dating show, with the spirit of chasing and the romance the fitting a special occasion. this valentines this tonight valentines segment will air on monday and tuesday. this, is ch

this is bloomberg. ♪ scarlet: moments away from the closing bell. u.s.s near record high. ,> if you are tuning in lives, we begin with our market news. we see stocks approaching the closing bell. because ofrecords declines from yesterday. s&p up a 10th of 1%. the nasdaq gaining 4/10 of 1%. there were some interesting stories including reports out by reuters that t-mobile might be getting approached by softbank to combine together, as we heard from bloomberg intelligence analysts. they can't officially be talking but there are reports they are unofficially talking. that story moving stocks throughout the course of the session. we've been watching lockheed martin and boeing. rising for thees straight session. lockheed martin taking a tough negotiating stance over contracts. straight session. offerat deal, making that for unilever, shares in u.s. asding, craft also higher investors have been waiting for the company to make a move like this. investors really like the idea. let's take a look at government bonds starting with the u.s.. not a lot going on here.

. >> all the red carpet couple's news, scarlet johansson's mystery date, who was ryan gosling's plus? plus, viola davis right after her show-stopping, tear, jerking victory speech. >> 30 years of hard work. >> i can make your hands clap. >> then a metallic invasion we break down the red carpet runway with adam glassman. >> it's almost like two dresses in one. >> five million in

scarlet fu and myself and michael mckee in washington.ays and counting -- where are we? like 97, 96 days. our supreme court expert, at least for today, kevin cirilli, is in washington. right now, our "bloomberg business flash." taylor: jeff immelt warns that the time of unbridled trade is over. he says there is a confluence of withs -- in an interview john micklethwait. jeff: people can see globalization from 30,000 feet townhouse --t, a do not know how globalization really works. it is country by country, deal by deal. i wish it was free trade and all that other stuff. that is just not where we are. taylor: he says there is a particular influence -- a particular focus on a strong tie with china. apple's quarterly sales and profits beat estimates. the company sold 3.5 million more phones in the quarter than it year before -- than the year before, driven by new customers. gene munster will join us this york,t 6:40 a.m. in new 11:40 a.m. in london. that is your "bloomberg business flash." tom: it is real simple. they have the new portrait m

top of the table glasgow trailing against scarlets., bottom of the table, up against ospreys, trailing ten points to 26. the new super league season is already underway and tonight, the turn of castleford tigers. they are up turn of castleford tigers. they are up against newly promoted leads centurions. —— lee centurions. widnes lead zinc huddersfield —— leading huddersfield 6—0. 0ne game in the championship tonight, sheffield wednesday, chasing a play—off place, taking on birmingham city. the home side are ahead thanks toa city. the home side are ahead thanks to a goal inside ten minutes from new signing jordan rhodes. it is his first goalfor the new signing jordan rhodes. it is his first goal for the owls after joining from middlesbrough on loan. he celebrated with his dad, the goalkeeping coach. the football association of wales will appeal against sanctions imposed by fifa for displaying poppies during a world cup qualifier. they were fined over £15,000 following, oration prior to their match against serbia in november. fever took

scarlets moved into the top four of the pro 12, after an important win over glasgow.two of munster, and ospreys, both won, and so did ulster. the big football news this morning is confusion over the future of the rangers manager mark warburton this morning. rangers said in a statement, that he had resigned from his position, but warburton says he wasn't aware of that, and is consulting his legal team. rangers are third in the scottish premiership, but 27 points behind celtic. ranger play greenock morton tomorrow, in the scottish cup fifth round, and under—20 coach graeme murty, is set to lead the side in place of warburton. celtic are the early kick off today — they play inverness. there is one game in the premiership today — dundee are playing kilmarnock. the early kick off in the premier league is at the emirates, where arsenal take on a re—juvenated hull city. arsenal are currently in fourth, but have lost their last two matches, which has led to renewed speculation over manager arsene wenger‘s future. former arsenal and england striker ian wright thinks this will

flankerjon barclay plays his rugby in wales with the scarlets and will captain the team in the absenceby ali price at scrum half — with prop gordon reid, back rowsjohn hardie and ryan wilson, and wing tim visser also starting. manny pacquiao and britain's amir khan have announced that terms are being negotiated for a possible fight between the pair. pacquaio's twitter followers recently voted khan as the opponent they would most like to see him fight next. khan hasn't boxed since a defeat to saul alvarez last may. that is all your sport now. i will have more for you in the next hour. now, let's get more on storm doris which has hit the united kingdom with gusts of up to 100 mph. in the last hour or so we have had reports that a woman has been killed in wolverhampton city centre in weather—related incident. let's get more that. alex ross is on the phone from wolverhampton‘s express and star. what more do we know about this? good afternoon. tragic news coming out of wolverhampton this afternoon. this morning at 11:a3am the ambulance service received 15 and 999 calls to wolverhampton city