it is wonderful to go from scott galloway to william janeway. ambridge university. he studied with samuel pepys years ago. he is at warburg pincus thinking about the new technology. talk about what mr. galloway was talking about. twitter is trying to adapt, but there is really only one facebook. bill: there is only one facebook, and it is kind of a winner-take-all philosophy. what happened with the proliferation of cloud computing, open-source software, and the internet as a friction-free channel for recruiting and delivering services, is that the friction involved in scaling to global reach is like nothing that has ever happened before. so you have very cheap cost of launching a disruptive new of that you because , oflots and lots of players one of the winners, one of which emerges. how it happens, nobody can predict who would be the winner. tom: francine, one of the things you and i heard in paris is that europe and france is having an incredibly difficult time scaling up in technology to the speed of what is going on in america. francine: you

scott galloway, professor at nyu's stern school of business.ck. ♪ betty: it is that time now, moments away from the european close. mark barton now joining us from london. we are watching janet yellen here. you are watching what? mark: i tell you what, betty. we are obviously watching yellen, too, but the big one is aghi, and ahead of dr aghi, inflation data. the goal of ecb is to raise inflation to 2% over a two-year horizon. they have not done that for three years. earlier.red the market the stoxx 600. it has led everyone to believe for sure the ecb will do something tomorrow on the stimulus front. we know that is the case, we are discussing what it is going to be. it can't be known until 12:45 tomorrow. betty: the decision, as you say, is largely price in. -- priced in. traders sayingf they will stimulate. certainty it will be cut by 10 basis points. the former deputy governor of the bank of england will be joining us. we will talk about arcelormittal. join us next. betty: welcome back to "bloomberg markets." where thendon, markets are finis

and school professor scott galloway, truly a grand man. that , how do they reinvent themselves in this environment? >> i used to buy levi's when i was a kid. play music, make it a nice environment. a look at what urban outfitters is doing. chain andt a pizza are criticized for it? it is a good idea. the hottest right now, the ralph lauren restaurant. the two are coming together. david: it is not entirely new. williams-sonoma, in the 40's, he started with cooking lessons in .is stores >> he used to travel to france with a hardware store, it sold more than the wrenches and the screwdrivers and that was the birth -- talk about an amazing life and dies in his sleep. what a life well lived. featuree: you did a big on the hottest gifts for billionaires. >> we do this every year and it is so fun. one of the top few things on the list are always experiences. as you said, you can own a million different cars, but experience is one-of-a-kind, rare, and just for you. we had some really cool and's this year. one was you could travel to the edge of spa

coming up, scott galloway will be joining us tomorrow on exactly this topic. ♪ . . is 11 a.m. and midnight in hong kong. welcome to "bloomberg markets." from bloomberg world headquarters here in new york, good morning. i am betty liu. are watching at this hour. the fed on the verge of raising interest rates and the ecb may cut at the end of this week. the all important rank of england stress tests. we tell you those results. plungedswagen sales after the in missions scandal. minutes into trading. let's go to the markets desk where julie hyman has the latest. a bit of a stumble with the reaction to the isam numbers. ism showing contraction, unexpected contraction. if you look at the intraday chart, you can more clearly see the reaction in the wake of those numbers that came out at 10 a.m. if you look at the s&p 500, you we saw, the come down although stocks have recovered since then. this is a delayed reaction to this manufacturing numbers. it has been uneven. the biggest contraction we have seen since june of 2009. betty: right. tell us what is leading the rally though today.

scott channel6 "action news. >> okay, katherine. it is now 5:04 and new this morning police in galloway township new jersey say they caught a plan withash that he stole out of a car. erin keiser golf is accused of stealing $1,100 stealing the cash out of a vehicle parked outside the family dollar on new york road yesterday. the victim told police he caught keiser golf rummaging through his car. keiser golf ran off but was later arrested. >> happening today, pennsylvania attorney general kathleen kane las "heard the chorus loud and clear." today she'll a announce a team of especially prosecutors to investigate porn gate and other lewd e-mails she says were exchanged between prosecutors judges and other inside government. >>> kane will hold a news conference at the national constitution center and in a statement kane said after the sources of the e-mails are identified she'll "outline the powers the special prosecutors will have to identify any criminal civil or ethic violations." since last month kane has continued on as attorney general although her law license has been suspended. she's been delegating her legal responsibilities to t

scott, channel6 "action news." >> okay, katherine, thank you for that. >>> it is now 6:04. new this morning police in gallowaynship new jersey say they caught a man with cash that he had stolen out of a car. aaron keiser golf is accused of stealing $1,100, stealing the cash out of a vehicle parked outside of a family dollar on new york road yesterday. the victim told police he caught keiser golf rummaging through his car. keiser golf ran off but was later arrested. >> kathleen kane has "heard the chorus loud and clear." today she'll announce a team of special prosecutors to investigate porn gate and other lewd e-mails she says were exchanged between prosecutors, judges and others inside government. kane will hold a news conference at the national constitution center. in a statement kane said after the sources of the e-mails are identified she will "outline the powers the especially prosecutors will have to identify any criminal, civil or ethic violations." since last month kane has continued on as attorney general on a suspended law license delegating her responsibilities to top deputies. kane is facing perju