selina. selina: we are certainly seeing zte get punished severely by investors. the longer they are in this limbo, the more damaging it is for companies. they have already lost billions of dollars. their operations have all been halted. they don't have a clear path ahead. they still rely on united states chipmakers for key parts of their telecom equipment. but at the end of the day, the whole process is really providing more impetus for xi jinping to achieve his made in china 2025 goal, which is at the center of the concerns of u.s. lawmakers. they don't want china to be technologically independent, don't want china to be able to steal ip from the united states. but the saga of zte is telling china they need to be able to figure out how to create this domestically in their country so they are not tied and beholden to the u.s. parts. emily: selina wang in new york, thank you for that update. i want to bring in senator mike rounds of south dakota. he currently sits on the senate armed service committee. he was previously a governor of south dakota. senator, welcome

emily: selina wang in new york, thank you for that update. i want to bring in senator mike rounds of south dakota. second -- senate armed service committee. welcome to bloomberg technology. do you think president trump has started a trade war? or would you call it a trade dispute? as peter navarro puts it. rounds: right now it is a dispute, but nonetheless impacting markets. south dakota is looking at significant impacts to soybean prices, down $1.45 a bushel, amounting to a lot of money in south dakota. up right now about 25% of the entire soybean market in the united states, 60% of everything exported. makes a real impact on some agricultural states, south dakota one of them. emily: the tit-for-tat certainly sounds like a trade were to me. we are talking another couple hundred billion dollars worth of chinese goods facing terrace -- tarriffs. sen. rounds: the president does not feel like we are getting good trade deals. we will allow the administration time to put together plans, but time is going to start running short, particularly in ag

selina, what is going to make this time any different than previously? this is one of the most comprehensive overhauls they have had in years. jack dorsey is talking about personalization, orienting the brand around topics and trends rather than forcing people to have to figure out how to curate their own timeline.ofime and effort to create the perfect newsfeed. they want to shift the burden to twitter to find out what people want to know, when they nt to know it. for instance, the volcanic eruption in hawaii, instead of having to follow the hawaiian government officials, commentators about it, etc., they will send you a paying and ping and take a you to this events page that will sell you a live a feed of what is happening that will ert you to what thtest is. emily: how are they doing this? better ai, actual humans working behind-the-scenes to say this -- there is a volcano in hawaii, this is a huge story, i think people need to know? selina: it is a big process to be able to organize information in lifetime which is what this is all about. about organi

emily: selina wang, thanks so much. lp operates a mobile breaking news network on twitter called tictoc. that does it for this edition of bloomberg technology. tomorrow we will bring your reaction and analysis following tesla's annual shareholder meeting and talk to a leading tesla investor on elon musk's strategy ahead. this is bloomberg. ♪ announcer: the following is a paid advertisement for the bissell cross wave cap pro -- pet pro. ♪ ["blue danube waltz"] ♪

ande joined by selina wang garrett.to us about the economic and political irony, given that foxconn is also china's largest employer. garrett: i think trump wants to make foxconn one of america's biggest employers. he was very happy. the kind of trump the media show he loves to point to. he kept talking about how many jobs this is going to bring. if this goes perfectly over the next 15 years they should be about 13,000 pretty high-paying jobs created. he tweeted this morning it will bring 15,000. no matter how well it goes it is not exactly the hyperbole he's bringing into it. it is very controversial. not everyone in wisconsin supports it. to $4was about three billion of incentives that were promised and of course that is not all up front. that comes in the form of tax breaks and subsidies as the plant gets built over the next decade. emily: a tweet from the governor wisconsin, we are beginning to see the statewide economic impact of foxconn as businesses and workers all over the state are benefiting. foxconny operatio

selina: alibaba has declined to comment. company that has repeatedly said they are not out there to compete with amazon, they are not out there to steal u.s. consumers. but could they become more competitive? selina: in the near-term it is differently not their priority. they have a lot more greenfield space in domestic china and in southeast asia where they just pour $4 billion into the e-commerce market. focus u.s. before their was to find partnerships and find things that could be tangential to their core e-commerce in china. even know they will probably not be able to make any splashy deals in the future, they are still investing heavily around the world. they will invest $15 billion in r&d over the next three years. they want to build labs around the world for scientists in the u.s., israel, russia, and china to be leaders and artificial intelligence, internet of things, robotics, all areas that the trump administration is very concerned about. emily: paint a bigger picture for us here. obviously we have this groundbrea

emily: selina wang, thanks so much.rg lp operates a mobile breaking news network on twitter called tictoc. that does it for this edition of bloomberg technology. tomorrow we will bring your reaction and analysis following tesla's annual shareholder meeting and talk to a leading has led investor on elon musk's strategy ahead. this is bloomberg. ♪ the risk rally sending stocks to a high, the s&p 500 seeing gains and losses. >> tech shares help support the nasdaq, sending indexes to a fresh record for a second straight session. page, top another executives and austria now facing charges. >> slightly mixed

that's how we started. >> selina: i moved from hong kong to canada.o another country it's not easy. so we tried to provide a place for them to feel like they are at home. after we have this place we see a lot of happy faces. i see a lot of them gained weight. they have a big tummy. and i say okay that's what we are doing is the right thing. >> anthony: tell me about this building. it's legendary of course. >> sharmake: for me i think it's really a very unique place. like it's a place that when i come out from my home it's a place that i know i'm going to pass in some way. it's a place i meet with friends. it's a place that gives me a lot of confidence when i'm in here. i know where to go. i know how to talk. i know which food to eat. >> anthony: in the '60s and '70s the city relied on cheap refugee labor. no longer. today, most refugees are seeking asylum anywhere they can find it. many here are stuck in limbo. can't go back. can't work. can't leave. john fled iran six years ago just ahead of the secret police. sharmake is a student from somalia who h

selina: have been concerns are many years that these u.s.munications companies should not be buying equipment from these companies that may pose a national security risk. the concern is that it is the sec weighing this proposal to ban the use of federal subsidies in buying this sort of gear. many trade groups argue it's not within the legal authority of fcc to make this decision and it should be left up to the experts to make that decision. in addition to that, there are business concerns. it's not really in the benefit of at&t and verizon to not be able to access that type of gear since they may want to use it for some of their future projects like becoming the which in 5g and huawei, has reacted negatively to this, saying that this is blacklisting a handful of suppliers, calling it both improper and imprudent, unverifiedrelies on allegations. regards to the talks, the trade talks, over the weekend, what if any progress was made with regard to the key zte?egards tozte we still have chinese officials really wanting the u.s. to soften the blo

for more, we get to selina wang in san francisco who covered twitter for us., what is going to make this time any different than previously? >> this is one of the most conference of overhauls they have had in years. jack dorsey is talking about personalization, orienting the brand around topics and trends rather than forcing people to have to figure out how to curate their own timeline. you know it takes a lot of time and effort to be creating the perfect newsfeed. we want to shift the birding -- burden to twitter to find out what people want tn ey want to know it's. and why,nic or option instead of having to follow the commentators about it, etc.,s, they will send you a paying and take you to this events page that will sell you a live a feed of what is happening that will alert you to what the latest is. >> how are they doing this? better ai, actual humans working behind-the-scenes to say this for cano in hawaii, this is a huge story, i think people need to know? it is a big process to be able to organize information in lifetime which is what this is all abou

emily: thank you selina.he federal communications commission approved a plan to free up high-frequency airwaves for next generation networks and other services. the action sets rules on sharing -- action sets rules on sharing an operating a 24 gigahertz band that will be auctioned to multiple carriers in november. this could be a breakthrough for consumers. >> the easiest way to think about 5g is that it takes what you think about on a server or a device from an operating system and puts it on the network. you are going to have a network out in the world wireless network that will allow you to do services you have never seen before to consumers. emily: coming up, google is making its ai ethics clear. the company says it's technology will not be used for harm. we will discuss. if you like bloomberg news check , us out on the radio, bloomberg.com, and sirius xm. this is bloomberg. ? emily: google just released its for ai applications. the company's ceo called them concrete standards. the company will not develo

emily: max levchin and selina wang, thank you.g up, elizabeth holmes has been charged with criminal fraud, and legal experts say she could face significant prison time. we will get the full picture, next. this is bloomberg. ♪ emily: theranos founder elizabeth holmes was charged last week with defrauding investors. once reigning as the youngest self-made billionaire, she faces now multiple fraud charges and a jail time. olivia, tell us how this happened and what she is facing. >> on thursday, the u.s. attorney's office dropped a criminal charge on elizabeth holmes, who is now the former ceo of theranos. and they could do a plea deal, or they could fight this. they will likely be facing jail time in both instances. there is sort of an ironclad indictment. and i am told that it could be about 20-24 years. emily: we had john on the show recently, the author of the new book, "bad blood," and the investigation that toppled the first domino that led to this. take a listen to what he said about her motivation and whether there really was

and this from selina, who found herself dressed as an office chair, a green dress matching the seat,nd then the arms are black. —— green back. i love wearing red. obviously for the last six years i have not been able to do it sitting on this over. sometimes i do anyway and i look like a floating head. idling, well, people know the rest of me is there somewhere! —— i think. everyone is getting excited, people packing their stuff, the world cup! that phrase in your head, passports, tickets, money, the england players doing that? are they there yet? no, listen to this, charlie! so it all starts in earnest for england today, they fly out to russia for the world cup at lunchtime. and they got a bit of a steer about what they'll be up against in group g last night, as their main rivals belgium beat costa rica 4—1 in their final friendly match. wales' women can leapfrog england at the top of their world cup qualifying group if they can beat russia in newport this evening. scotland are also playing in poland. after suggesting last week he might miss the entire grass court season, novak djoko