shery: and i am shery ahn.avid: let's of the major indexes. the s&p 500 of about one point 2%, 20 points, 2076. the nasdaq, up almost 2%, 92 points at 4858. shery: time for the bloomberg business flash, a look at the business stories in the news right now. ucla has signed a 15-euro panel contract with under armour valued at $280 million. the pact represents the biggest college sports apparel deal yet. the contract eclipses the 2014 deal between under armour and notre dame, which included an equity stake in the apparel giant. david: radio giant i heart media has one and battle against media lenders, with a texas court ruling they were within rights to transfer assets be the creditors reach. the lenders had threatened to put the company into bankruptcy of the transaction. expert -- the judges agreed it was an effort to boost profitability. shery: another twist in the summer rest the legal drama. they have replaced two former trustees, the viacom chief executive officer and george abrams, both suing to block their

shery: this is blue or markets. i am shery ahn.elevision executives are paying close attention to an account on snapchat called arsenic tv. it could herald a new era for television. you can read about it in the latest bloomberg businessweek. the reporter who wrote about it joins me to talk about it. tell us what exactly is arsenic tv? i should start by saying it's probably not safe for work. it slightly racy. magazine kind of five, nearly naked women in hot tubs and things like that. they are making money out of that, surprise, surprise. was exciting about it from a business perspective is that arsenic, despite having very little promotion, has assembled an audience of about half a million people, which is really impressive and shows how they and fast growing snapchat it -- big and fast growing snapchat is. shery: half a million people, and it's only on snapchat. .> right snapchat broadly has about 110 million daily viewers. the fact that this random account, slightly racy, is able to get this big audience, is kind of amazing. they

shery: what do you mean by that?n we saw their recent report, we found out that apple may not be able to rely on china further growth anymore. they were down there 20%. what does that mean? there is a shareware people do not want to upgrade. they are extending the lifecycle of their product. iphoneu had also for the 6 was a massive number of users into the ecosystem. the survey data that shows there will be a retention rate. of will have new increments users coming over from the android ecosystem into the iphone. mark: have this news from india. we are running the story today. the indian foreign investment motion board ruled that apple must comply with regulations to procure 30% of it proponents locally to achieve the ability to open one of its stores. how much of a blow is this to apple? in is aone of its trend key marketing strategy. nehal: yes. it's a negative in a vacuum. toectations with respect opening stores in india? i don't think there was a lot of expectations there in the near term. the survey data was con

shery: by a common cbs in the spotlight.will tell you about sumner redstone's most recent saga when bloomberg markets returns. ♪ shery: you're watching bloomberg markets. david: it's time for a check of the headlines. mark crumpton has that from the newsroom. mark: the fbi's investigation of hillary clinton's use of right the e-mail server ball secretary an end. is nearing experts say the investigation will likely conclude with mrs. clinton being questioned. the fbi standard practice is to interview the person or persons at the center of up row. the race for the white house -- at the center of a probe. the race is shaping up to be a contest between the two most disliked candidates in decades. a 60% trump has -- unfavorable rating and mrs. clinton is at 63% -- 53%. highestld have the unfavorable ratings in 30 years. the supreme court is making it easier for federal workers to file employment discrimination lawsuits after waiting their jobs over intolerable conditions. the justices ruled 7-1 that workers who bring so-called co

shery: i am shery ahn. janet yellen says the ongoing improvement in the u.s. economy could foreign to a nether interest rate increase in the coming months, but stopped short of saying exactly when. we will follow reaction in the stock and treasury markets. get ready to wait. airports are expected to spend millions to help customers avoid long security lines, but will it be enough? and what this means for your travel plans this season. shery: protein is hot and chocolate is not so her she is diversifying -- hershey is diversifying. beef turkey? we will explain. we are one hour closer to the close of trading. julie hyman, how are stocks holding up? julie: relatively well. janet yellen is not derailing the rally, small though it was. we have pretty much made a round trip to where we were before she made her comments about interest rates potentially going up at some point this year. there had been some expectation going into her comments that she might be more dovish. basically, with that more dovish commentary, that created a market reaction. if you look at volum

i'm shery ahn standing in or betty liu. rising amid growing investor optimism that the world economy can withstand higher interest rates from the fed. the s&p 500 is at its highest level in almost a month. at&tberg news has learned is entering the contest for yahoo!'s internet business, setting off a head-to-head battle with verizon. a look at why at&t is making such a late entry. and microsoft is slashing more than 1800 jobs, accelerating its exit from the smartphone business. what is the company's strategy? are one hour from the close of trading. let's head to the markets desk where julie hyman has the latest. how are stocks looking? off ofstocks have come their highs little bit and we see volume slowing down a little bit. nonetheless, still seeing a strong today rally. if you look at the groups that are moving, that has been pretty consistent today. energy shares have in in this top spot consistently throughout the course of this session. materials follow them and utilities are the laggard as we have higher yields which

shery: i have no comment to that.playoffs are important to the nhl in terms of what makes money. scarlet: the longer the series goes on, the better for the league. in one series, it goes to seven games. the other is going to game six tonight. david: you will be watching. scarlet: i will not be watching because the rangers did not make it past the first round. david: let's go to julie hyman. julie: we talked about soybeans at an 18 month high because of what is going on down south in argentina. there has been a squeeze down there, whether reducing output. argentina is the top shipper of soybean exports. twice as much as brazil. when you have this kind of constraint, it has an effect on the price. up by 3% today. we are seeing a gain in some of the other agricultural commodities. corn prices are trading at their highest. week prices are also rising. the weatherly about in south america, but the forecast here in the united states. this has a ripple effect across the companies who service the agricultural industries. are

shery: i'm shery ahn in this is the european close.s the risk of financial market turmoil have mainased due to three factors -- slowing growth in emerging economies, weak profits at banks, and the rise of populist movements across the euro region. matt miller was that the ecb and spoke with the bank's vice president. vitor: during a certain number of months, we are still subject thehe effects of development of commodity prices, particularly oil. so it is to be expected that we will have several months of very low and sometimes negative returns. that will start to change in the last quarter of this year and i am very confident that the forecast of next year we will be above one and we will materialize. that would continue to increase for 2018. our policies have been effective because according to several models and ways of calculating, yearve estimated that last the inflation would've been quite negative for the whole year. and we expectuce the policy to have. matt: you do expect higher inflation than 1.6% in 2018? vitor: personally, ye

shery: gold dropping half of 1% today. groundwork for a great rise in june or july in speeches. take a look at iron ore prices. rising inventories in china spurred concerns of global supplies topping demand. the hamilton project centers on a new proposal by alan blinder. now a professor at princeton. with helicopter money in the fed 's next rate decision. is deepe recession enough and long enough, especially deep enough, the federal reserve and other central banks can run out of .heir main weapon here in america that's the federal funds rate. then they have to look elsewhere. two things haven't learned. the central bank does not out of ammunition at that point. they can still fight a recession , but it is using weaker instruments than it normally has . at its disposal. david: how we given instrument is a negative rate, as you see it? of all, we haven't used them. it's america. every short-term money market is a bit different. i have been an advocate of that for a long time. let's put it this way. i would say going from zer

shery: thank you.'s get to bloomberg first ws.d nee >> president obama has become the first sitting president to visit a city destroyed by a nuclear bomb in hiroshima, japan, and 1945. mr. obama said he was there to mourn the dead japanese and americans. obama: since that day, we have made choices that gave us hope. the united states and japan forged not only an alliance but a friendship. emma: japanese prime minister shinzo abe praised president obama for what he calls his third for coming to hiroshima. global leaders meeting in japan pledged to bolster sagging economic growth. the group of said event industrialized nations round of their summit and glossed over differences on this goal stimulus. the ivory coast says it has arrested a suspect in a deadly inack by al qaeda militants march. the suspect is described as the driver of the vehicle used in the attack. 19 were killed when gunmen opened fire at a beach. hillary clinton is bringing in new deep-pocketed donors to the democratic party's on his ef

that's next. ♪ shery: welcome back. live from london and new york, i'm shery ahn.utiful day in the u.k. capital. mark: summer has begun, finally. this is the european close on bloomberg markets. that earningecast will slow as profit jumped. they expect earnings to rise about 13% as airlines cut prices to entice customers. chief executive michael o'leary spoke to bloomberg earlier about the company's growth prospects, especially in view of an eu referendum. michael: the u.k. economy is struggling somewhat. there's a lack of confidence. i think a lot of that is driven ,y the old brexit uncertainty it's an overhanging starting in the u.k. economy for the last six months. if there's a strong remain and you can take away that uncertainty, we as a large foreign investor will continue to invest heavily in britain as long as it remains a member of the european union. i think a strong vote on the 23rd of june will help to eliminate that. world istill be -- the an anemic place at the moment, growth is slow in most markets. the u.k. is better positioned than most other large

we are 30 minutes away from the european close. ♪ ♪ shery: live from london and new york i am shery ahni am mark barton. we are 18 minutes away from the european close. shery: thanks. it is time for the bloomberg is flash. in the lifeakeover sciences technology business. ei whichreed to buy as makes electric mice -- sei which makes electro microscopes. tot represents a 14% premium sei's closing price yesterday. the city's newest condo towers are opening with many owners heading for the exit in miami. that a thirdimated of the units in some high-rises are back on the market. that is your bloomberg business flash for this hour. the center for economic performance at the london school of economics has issued a critique on brexit. it breaks down the arguments on brexit which includes that the u.k. will see a 4% u.k. gdp gain. mark: patrick minford is a professor of applied economics at cardiff university. thank you for joining us. if i could start with this report. the authors of the report have come out with the statement like this. minford's liverpool model was predicting enormous job los

shery: i am shery ahn and you are watching "bloomberg markets."e for a look at the biggest business stories in the news right now. the unique ceo may resign as soon as tomorrow. that's according to people with knowledge of the situation. the bank's board will meet tomorrow and may authorize the nomination committee to begin the search for a new ceo. he has fallen out of favor with some investors over the bank's failure to shore up capital and increase profitability. it is a buyers market for big business. strongeril wealth, a dollar, and a downturn in emerging markets is hurting demand. general dynamics, gulfstream units, and bombardier are cutting outputs. they are competing with a glut of used jets on the market. that is your business flash. let's head to the markets desk where julie hyman has the latest. what are you looking at? julie: secondary financials. lending club is actually up for a change. that is after a premium lead and the ceo disclosed and 11% stake in the company. they would be the largest holder of the company after sans capital.

i'm shery ahn.n "bloomberg television," we spoke with some of the world's most important figures in asset management, private equity, and investment banking. they are all dealing with challenges in politics, volatility in the markets, and mixed forecast for global growth. we begin our review of the week's best interviews. we begin with blackrock's larry fink, who is bullish on china, but has some concerns. >> i would give the chinese leadership some of the best marks in trying to transform their society. we're on the fourth year of the 10 year plan. to reorient china away from manufacturing, away from an export dependency economy to a more resilient and service economy. that's a very hard thing to do. it takes many countries 50 years to do that and countries generally have recessions in the transitions. that china -- -- the market is saying that. the market is saying that china's dependency on debt and the leverage of the balance sheets and the continuation of investing in some of the unproductive s

this is "bloomberg i am shery ahn.et's continue our global tour of the weeks top business stories including some in trading activity in m&a. betty: pfizer agreed to buy and a core 45 $.2 billion in their first deal since walking away from the 100 xt billion-dollar takeover of allergan. is this what is to come from pfizer? >> they said they are going to decide by the end of the year whether to split the company up, and this fits the bill. a want assets that are fully developed, they do not want to , and assets, on there is not nearly as much competition as there is in say oncology, so this is a perfect fit for them. making an unsolicited takeover of men santonio. a potential takeover was first reported by bloomberg news a week ago. is this out of desperation, defensiveness? what is the rationale? shifting spaces in the aggro can. we have seen on santino go for santo -- they mon wanted to buy but now it looks like they have gone from the hunter two the hunted. shery: why do they need this so badly -- betty: why do they n

shery ahn: and i am shery ahn. david: closer to raising interest rates. the s&p 500 rate shows a weekly decline but is now higher for the year. shery ahn: shares of john deere getting trend today. they allowed past earnings estimates -- they plowed past earnings estimates. david: what impact will the doomed egyptair jet have on stocks? americans may be reluctant to travel abroad this summer. are one hour from the close of trading. let's head to the markets desk. s&p isear to date, the now up for the year, up .4%. we were talking about how it had dipped into the red yesterday. we are off of six-we close. -- we are off six-week lows. the s&p is up .6%. the nasdaq is still down year to date by nearly 4.8%. i want to show you what has been happening with the s&p 10 sectors. generally a broad rally across the board. information technology continues to be the biggest leader, up by 1.1 percent. it had been higher. it was as high as about one point 3% or soap health care sector up by about .8%. consumer staples continue to be the biggest laggard come at down i ab

shery: let's start with the headlines.r: jurors have found the former suburban chicago police officer guilty of trying to hire someone to kill the prosecutor who helped convict him in his third wife's debt. peterson was accused of trying to hire an inmate's uncle to kill the states attorney. peterson is serving a 38 year sentence for the killing and faces up to 60 more years in prison. california governor jerry brown is asking hillary clinton for president as california holds its primary next tuesday. writes that clinton is the only way for democrats to win the white house and stop the "dangerous candidacy of donald trump." hillary clinton is a 13 point lead over bernie sanders in california. a 51% support among likely democratic primary voters compared to 38% for sanders. california holds its primary next week. prosecutors at the 9/11 war wants wonton obey victims'sntanamo bay families to testify. global news 24 hours a day, powered by our 2400 journalists in more than 150 news bureaus around the world. i'm taylor riggs.

. ♪ shery: welcome back.go to julie hyman who is standing by for our deep dive into the etf market. been eighte has acquisitions of etf companies and the past few years. we cover the etf industries. we talk about what has been going on. 2015 was a big year for corporate mergers and acquisitions. we have seen an uptick recently. it has been big for the past three years. eight total in the past two years. boxbig one is harper lattice strategies. if you haven't heard of that, it is a small one. no one has. big bricks and mortar's neutral funds companies, these bricks and clicks. etf has been taking a lot of the assets mutual funds have been losing. put them into the ground over the next few years, or stake a claim or the future. buying is easy. they are not buying for the addicts. -- products. what they are buying is talent and industry experience of people who know how to run. passive managers. people who know what they are doing in creating smart data products. -- data products. none of these companies that ha

here is shery ahn. shery: the largest discount airline in europe calculated that discount are down. terror attacks and lower fuel prices will prompt airlines to cut ticket prices. ayer is proposing a blockbuster deal. they want to write monsanto for 62 billion dollars in cash, representing a 20% premium to monsanto's last close. it would be the biggest takeover ever by a german company. that is the business flash. francine: we are very pleased to see we are being joined by mr. aumann. your share price under pressure. a lot of concerns whether you can pull this off. it is a huge deal. how confident are you that you will be able to push it through? >> first of all, thank you for having me. we are very excited about the offers for monsanto which we submitted. you kind of indicated the headline, the share price, and the company valuation. this is a great opportunity to drive the model going forward. we are very much convinced that this is a value proposition for the monsanto shareholder. we are also committed to the transaction. francine: do you think you will get shareholder backing on

live from london and new york, i'm shery ahn. i mark barton.he european close on bloomberg markets. shares of the conference in brussels include commuters sharing car rides together through services like uber pool. but this is already up and running in the u.s. and china and has to come the -- has to compete with a robust transportation system in europe. a bloomberg view columnist wrote about this. are we what it to the public transportation system -- are we wedded to the public transportation system in europe? we are, much more than the people in the united states. brussels carries as many san franciscothe bay area transit system, even of san francisco of is seven times that of brussels. partyities in europe are well served by public transport, unlike american cities. the only exception in the u.s. is new york, which is an outlier. most people there use public transport. europeans if preferred car sharing, do their routes match very well? european cities are unlike u.s. ones because most of them are not planned on the grid and they don't even

shery: yahoo! having its award space since early january, falling 5%. giant at&t is set to be -- is a said to be interested in buying the company's internet business. why did at&t come back into the game? we had heard earlier it was dropping its bid. alex: we don't know if we were fed misinformation or at&t has sort of changed its mind about yahoo! are both atizon the port where there is only so much they can do, at least u.s.-wise, from m&a standpoints. they cannot by another wireless network. regulators will not allow them to pay they cannot by another cable network -- regulators will not allow them to. so the digital aspects like yahoo!, it is probably somewhat appealing. you can make a small bet and develop something down the road that is appealing to your wireless customers. francine: let's go to vietnam, where boeing has won an order for 100 points from viet jet, the country's only private airline. it is worth $3 billion. viet jet is an airbus customer. it has multibillion offers. what incentives were offered for you to switch? dinesh: it's not a

i am shery ahn.haad: wildfires raging through canada's oilsands region , shutting down an estimated $1 million of -- one million barrels of production a day. joining us from alberta -- rebecca, how quickly will these companies get production back up , and where are we with these fires right now? rebecca: it's interesting, because today even as companies including suncor and conoco phillips were shutting down production, they were talking about getting it back up again. the massive fire that has extended to double the size of new york city in northern alberta continues to spread, but it is moving east, away from the oilsands facilities, which is giving them some comfort they can start the process of getting production back online. today, with mckenzie they were saying it could be about a week before they get things back up. it could take a wild longer to get production back up to full capacity, but about a week from when the immediate risk subsides. rishaad: some workers in the oilsands have lost thei

shery: thanks. has reported sales that beat estimates and that growth in eastern europe and asia for the world's fourth-largest brewer had net revenue rise to percent among adjusted basies. the median estimate of analysts surveyed was for 1.3%. eon's first-quarter profit rose 30% after a one-time adjustment of the natural gas contract, underlying net income rose to $1.31 billion in the three months since the end of march. agreement and a two-year long arbitration process and enabled them to cancel some provisions recorded in earlier years, boosting first-quarter earnings by 400 billion euros. is part of a process of focusing of its mainland tourism operations. the unit comprises more than 50 travel brands, which generated 1.8 4 billion euros in revenue and 56 point 2 million euros and underlying operating profit last year. europe's largest operator says it will retain only thompson lakes and mountains businesses. tui shares are trading lower this morning. has said annual net income will probably dec

shery: yahoo! having its award space since early january, falling 5%. giant at&t is said to be interested in buying the company's internet business. why did at&t come back into the game? because we had heard earlier it was dropping its bid. alex: yeah, we don't know if we were fed misinformation or if at&t has sort of changed its mind about yahoo! look, at&t and verizon are both at the point where there is only so much they can do, at least u.s.-wise, from m&a standpoints. they cannot buy another wireless network. regulators will not allow them to. they cannot buy another cable company, regulators will not allow them to. so the digital aspects like yahoo!, it is probably somewhat appealing. you can make a small bet and maybe you can develop something down the road that is appealing to your wireless customers. francine: let's go to vietnam, where boeing has won an order for 100 planes from vietjet, the country's only private airline. the deal is worth $3 billion. vietjet is an airbus customer. it had multibillion options. what incentives were offered for

shery: yahoo! having its award space since early january, falling 5%. giant at&t is said to be interested in buying the company's internet business. why did at&t come back into the game? we had heard earlier it was dropping its bid. alex: we don't know if we were fed misinformation or if at&t has sort of changed its mind about yahoo! at&t and verizon are both at the point where there is only so much they can do, at least u.s.-wise, from m&a standpoints. they cannot buy another wireless network. regulators will not allow them to. they cannot buy another cable network -- regulators will not allow them to. so the digital aspects like yahoo!, it is probably somewhat appealing. you can make a small bet and develop something down the road that is appealing to your wireless customers. francine: let's go to vietnam, where boeing has won an order for 100 planes from vietjet, the country's only private airline. it is worth $3 billion. vietjet is an airbus customer. it has multibillion offers. what incentives were offered for you to switch? dinesh: it's not a swit

shery ahn: and i am shery ahn. david: closer to raising interest rates. rate shows a weekly decline but is now higher for the year. shery ahn: shares of john deere getting trend today. they allowed past earnings estimates -- they plowed past earnings estimates. david: what impact will the doomed egyptair jet have on stocks? americans may be reluctant to travel abroad this summer. are one hour from the close of trading. let's head to the markets desk. s&p isear to date, the now up for the year, up .4%.

let's get onall, to the bloomberg first word news with shery ahn. shery: thanks, caroline. chairs and mitsubishi motors have jumped by more than 16%; that's after a confirmation in talks with nissan, including a possible capital tie up and that if you will economy scandal that has battered one of japan's smallest automakers. people familiar with the matter say nissan is taking a 33% stake in mitsubishi motors. the bank of england holds its last so-called super thursday before the eu referendum today while all economists in a bloomberg survey predicted no change to the interest rate. that bank of america merrill lynch says one or two of the nine-member panel may vote for a rate cut. reportrterly inflation with governor mark carney will be scoured tonight by both sides of the brexit debate amid concerns with recent services and production data. japanese investors appetites for 30 year bonds has made them, in the words of one manager, the most expensive on earth. locals say they want more, not maturing in 15 years or more, with the only ones in positive yields. japan has sold

i am shery ahn.ing up next, set up with reports on inflation. how speculation with the fed may raise rates this summer. returns.omberg " this is how things are shaping up. s&p 500 futures are down .2%. by .3%.is down ♪ jonathan: it is another u.s. retailer with another negative outlook. for sales in the second quarter. target down by 7.55% in the premarket. revenue was a miss. the outlook for the second quarter is getting the stock be right now. this is one to watch ahead of the open. david: not a good morning for target. we want to turn to rate expectations. fed minutes are being released at 2:00 p.m. eastern time after said residents have taken a hawkish tone. -- gabriela santos is still with us. if there were a faster rate hike, would that be a catalyst to get this moving in a sideways direction? gabriele: you could argue that it could be but initially it could cause volatility. if you think about what sector that would benefit, it would be financials. such a key sector of the market. in the e

shery ahn is standing by. it's all about the autos today. shery: yes.arnings out of japan are having an impact on how markets are trading across asia, but when it comes to the nikkei, it did turn positive in the last hour of trading. though, did not manage to turn positive, staying negative all day, reversing five days of gains. the shanghai composite down 3/10 of 1%, while the hang seng is down for tenths of 1%. a lot of investors are still cautious about the chinese economy, but one thought we have on haseping and e eye been mitsubishi motors because of news of the capital tie up with nissan. and thet trade all day, focus -- it jumped more than 16%, as you can see. nissan today feeling the pressure. it fell about 1% at the close. we also have toyota falling more than 1% on that forecast of profits, dropping in more than five years. same with the auto sector and south korea. 3.5%, theck rising most in almost a month after local media reported that tesla picked them as their main tire maker for the model 3. pressureso seeing some on hong kong property d

shery: yahoo! having its award space since early january, falling 5%.nt at&t is said to be interested in buying the company's internet business. why did at&t come back into the game? we had heard earlier it was dropping its bid. alex: we don't know if we were fed misinformation or if at&t has sort of changed its mind about yahoo! look, at&t and verizon are both at the point where there is only so much they can do, at least u.s.-wise, from an m&a standpoints. they cannot buy another wireless network. regulators will not allow them to. they cannot buy another cable network. regulators will not allow them to. so the digital aspects like yahoo!, it is probably somewhat appealing. you can make a small bet and develop something down the road that is appealing to your wireless customers. francine: let's go to vietnam, where boeing has won an order for 100 planes from vietjet, the country's only private airline. the deal is worth $3 billion. vietjet is an airbus customer. it had multibillion options to buy single aisles. what incentives were offered for you to

shery: it is very difficult situation.e of --ulated movement speculative movement is extremely concerning and japan will keep an eye. take action if necessary. this is not the first time we're hearing policymakers trying to talk down the yen. that this is not the right time for the finance ministry to take -- make a move. here is what one analyst says. >> drawing a line in the sand is given this last surge of the yen is a logical response to what the boj did on thursday. it would be a strange place to intervene but they are worried about this one-sided move. to thehe is referring boj move last thursday not to intervene. it went against market expectations. what we're seeing is adding to weakness.llar they are not in a hurry to raise rates. we are also seeing and narrowing gap -- a narrowing gap. that is also supporting the yen. if both central banks in japan and the u.s. stay on the sidelines and don't act, we could see the yen surpassed the dollar level. angie: what is going to happen? policymakers are under fire. shery:

shery ahn has more from our new york newsroom.: hillary clinton will try to avoid losing both of today's democratic presidential primaries did clinton's lead over bernie sanders is almost unbeatable. still, losing in kentucky and oregon would slow momentum. kentucky is considered the bigger prize. oregon has a vote by mail system and the demographics favor sanders. the senate plans to vote on president obama's request for money to contact -- to combat the zika virus. the bipartisan measure to cut toma's $1.9 billion request $1.1 billion has a greatest chance to a dance. zika can cause birth defects and is expected to spread more widely during the summer mosquito season. an amtrakents before train went off the rails last year the engineer was distracted by reports that another train had been hit by a rock. investigators look into the derailment in philadelphia. eight people were killed and the backup safety system was not in place. investigators said that would have provided a technological safety net. the greek government says its

shery ahn has more from our newsroom. this one a split decision. bernie sanders won the democratic presidential primary in oregon and hillary clinton claimed victory in kentucky. hours after the polls closed it was too close to call. the primaries did not do anything to change the dynamic of the race. clinton is inching closer to the number of delegates she needs for the nomination but sanders is not giving up. >> let me be as clear as i can be. i agree with you, we are into the last ballot is passed. shery: the next big test for the democrats, primaries in california and new jersey and four other states. according to their latest financial disclosure form the former president took him 1.4's -- $1.7 million in 2015. down 93% from the previous 16 months. likely republican presidential heinee donald trump says made $557 million last year. his campaign provided few details of how he earned the money. is in cairo for talks with egyptian officials. they are exploring ideas for supporting a new is really palestinian peace bid. kerry flew to the capital t

let's get to bloomberg business flash with shery ahn. >> thank you.t annual net income will probably decline for the first time in five years. japan's largest company predicted that net income may drop to $13.8 billion for the fiscal year ending in march. that's below analyst estimates. to you i -- tui will be selling an element to focus on its tourism processes. generated 66 .2 million euros in underlying operating profit. europe's largest tour operators as it will retain only the crystal see, thompson lakes, and mountain businesses from the portfolio. crossbar he has reported sales that the estimates on growth and eastern europe and asia. the brewers is that fourth-quarter net revenue rose 2% on adjusted aces to $2 billion. the median estimate of analysts by bloomberg was for 1.3% growth. that is your bloomberg business flash. >> shery ahn joining us with a ink at what's making news the asian session. we just had earnings from compass group earlier this morning. first quarter sales and operating profits be estimates. joining us now for an exclusive

shery ahn is here with first word news. a remote-controlled submarine is being sent to egyptairr the missing jet. they will try to locate the voice and data recorders, which could be almost 10,000 feet below the surface. french investigators say the plane generated automatic radio messages about smoke and the kamman -- smoke in the cabin before disappearing. iraq has launched an offensive to retake falluja. the prime minister says the iraqi forces are "approaching a moment of great victory." falluja is 40 miles west of baghdad. islamic state has controlled it for two years. president obama has ended one of the last symbols of wartime animosity between vietnam and the u.s. he lifted the embargo on weapons sales to vietnam. president obama: this will ensure that vietnam has access to what it needs to defend itself, and it removes a lingering vestige of the cold war and underscores the commitment of the united states for a fully normalized relationship with vietnam, including strong defense ties in this region for the long-ter

shery: yahoo! having its award space since early january, falling 5%.at&t is said to be interested in buying the company's internet business. why did at&t come back into the game? we had heard earlier it was dropping its bid. alex: we don't know if we were fed misinformation or if at&t has sort of changed its mind about yahoo! look, at&t and verizon are both at the point where there is only so much they can do, at least u.s.-wise, from an m&a standpoints. they cannot buy another wireless network. regulators will not allow them to. they cannot buy another cable network. regulators will not allow them to. so the digital aspects like yahoo!, it is probably somewhat appealing. you can make a small bet and develop something down the road that is appealing to your wireless customers. francine: let's go to vietnam, where boeing has won an order for 100 planes from vietjet, the country's only private airline. the deal is worth $3 billion. vietjet is an airbus customer. it had multibillion options to buy single aisles. what incentives were offered for you to swi

i am shery ahn. alix: let's get a recap of the market action.ing at gains for the s&p, dow, and nasdaq things to crude prices that boosted energy shares and apple is the biggest gainer after berkshire hathaway disclosed a stake in that. joe: you can see a bit of a surprise. there is weak economic data, empire fed, and china we are about to talk about. and yet you some resilient equity markets. scarlet: you can thank warren buffett for apple. in a filing has reduced his stake in paypal by 8.4 million shares to 3.1%. that is still a sizable stake for carl icahn and paypal. he was very vocal in pushing for ebay to spin off paypal as well. so his stake is still -- joe: good on tech overall. scarlet: and news on george silvers filings as well. let's go pull it up. do we have that right now? ok, i am getting the word from the producer it is under ni heads. only, do you know that company? george is reporting stake in this as well. glty. , sp y and we will continue monitoring these headlines from those filings. "what'd you miss?" we are pointing to econ

shery: i've got to say that i love angry birds, but i have not played over 100 hours.k you -- is this the future of the gaming industry, just making movies out of apps? nate: i think it really could be actually. one of the things that we have seen is that apps have been great vehicles for marketing films. we have seen that almost in reverse. there have been faced range examples about this week, the old game tetris, a game that does not have any discernible characters or any speaking at all, is potentially going to be made into a trilogy of films. this is incredibly strange but increasingly common. mark: is it going to make the money? theaters take cap the revenues, so it has got to make around $350 million worldwide to breakeven. nate: absolutely, but people are then encouraged to do a sequel and another one an additional merchandise. it might not be that the film itself is going to be the thing tot is going boost rovio new and greater heights, but it might be the catalyst for the next thing that then could. that is key with their strategy here. mark: great to discuss

let's begin with the first word news with shery ahn.lary clinton super pac is preparing to launch an anti-donald trump ad blitz. priorities usa will start airing it's a general election and starting wednesday. they will spend $6 million in ohio, florida, virginia, and nevada. a majority of americans support universal health care. the latest gallup poll indicates support0% of americans replacing the affordable care act with a federally funded system that provides insurance to all. the plan backed by bernie sanders. hillary clinton wants the eca to stay in. donald trump wants to repeal the legislation. to the u.n. says the eu's response to the refugee crisis lacks a vision and is urging an immediate change in policy. the envoy also criticized the agreement between the eu and turkey to send back refugees who make it to europe, saying it operates under legal and beauty. in000 people who arrived greece after march 20 are being detained. 100,000 laps around earth for the international space station, which reached the orbital milestone today a

shery: mitsubishi motors has admitted falsifying emissions test dating back as far as 1990 one.omaker has formed a panel of three former prosecutors for an investigation expected to take three months. the president again apologized for the scandal, which is wiped out half of the market value since the numbers last week. can the company survive this scandal? one speculation is a buyout and the other is a bailout. for the buyout, there is the possibility a chinese company, maybe an indian carmaker, a domestic japanese business. the forecast is not good at all. they are one of the smallest car makers in japan, so it is unlikely that part of the business would survive. scarlet: yahoo! shares are slightly lower after announcing gettingith star board for new directors to the board. is this a surprise? >> no, it really wasn't. this is the option we were all expecting. star board was running a proxy contest and they wanted to replace all or most of the board of yahoo!. that would have been miserable outcome for everyone. what would have happened, the field process would have run, and th

from the bloomberg news room, i am shery ahn. "bloomberg west" is next. ♪ emily: i am emily chang, and this is "bloomberg west." coming up, the oracle logs on. warren buffett comes out swinging with two big bets on tech. we will break down the berkshire-apple connection. apple turned heads when it jumped into the passenger seat with didi. we will have details on a potential ipo. reportedly working on its own private labels for things like baby products, snacks, and household items. there is a launch planned for next month. our lead, warren buffett, the oracle of omaha, has disclosed a $1 billion stake in apple, announcing it bought 9.8 one billion shares sometime in the first quarter. buffett has historically stayed away from tech, saying he doesn't understand it. in late 2011, buffett acquired a 5% stake in ibm. shares are down some 20%. apple shares popped on news of buffett's buy, but the road ahead for apple isn't shiny. carl icahn just disclosed he no longer has a stake in the company. discuss, shira ovide from new york as w

let's get to the bloomberg first word news with shery ahn.s won the democratic primary in oregon bankillary clinton has one kentucky. the big test for democrats is on june 7 when california, new jersey and four other states will vote. the wildfires in canada are oil producers. suncor energy has abandoned three sites. canada has lost one million barrels of production a day because of the fire. rescuers are searching for 200 families missing after torrential rain. at least 19 deaths are blamed on the weather so far, a mud is making it difficult to use heavy agreement in the search. leaders have called on followers to take to the streets today, trying to force a recall election. their suffering from widespread shortages of food and plus inflation is in the triple digits. government with the budget police have forced sanctions. they're discussing what to do after spain reaches the budget limit for the fourth. in a row. that could lead to a fine. the acting minister's government may not be penalized. the eu may decide not to do anything. spain pre

shery ahn has more from the newsroom. shery: voters go to the polls in oregon and kentucky tomorrow. hillary clinton is as that eight training center in louisville. bernie sanders is also in the state. he is talking about the worsening debt crisis i have the primary coming up on june 5. donald trump says for to senator marco rubio is not on the consideration to be his running .ate the washington post reported him, chris christie, and sarah palin being considered possible vice presidential picks for donald trump. he tweeted that this is wrong and most of those mentioned are not being considered. the supreme court has compromised in the affordable health care act. contraceptives case. to sended unanimously this back, saying both sides may be able to resolve the dispute. religious groups challenged the requirement. this coverage being included in employee and student health plans. the campaign backed by a billionaire environmentalist is trying to gather signatures for a ballot measure that would make more -- it would raise c

guy: thank you, shery ahn.st time in years, ,rofits will exceed estimates according to data compiled by bloomberg. sophia cost us joins us, who helped us compile the data. she joins us now. this is something that analysts have been waiting for for quite some time. is it too early to get excited? >> perhaps on. -- not. the last time this happened, the s&p gained an average of 5.5%, and it is a leading bullish indicator. we all know that profits in the first quarter weren't bad, so analysts are focusing on guidance. maybe taking the glass half-full approach -- it might be a time to do that. it's not just in the u.s.; it's also -- negativity is pulling back a bit from the world, from profits around the world. the number of cuts are almost equal to the estimates being raised, and that would be the first time in two years that happened. it seems that the tide is turning more on the other side. caroline: we are getting more optimistic. perhaps is it that analysts were too pessimistic? how much of a bullish sign is th

shery: it is the top performer on the nikkei at the moment.itially picked this. we appreciate that. shery: you appreciate i do not stick to my original forecast? [laughter] angie: that is it for us on "first up" today. what is coming up? yvonne: adjusting the china data that came out over the weekend. all engines seem to be losing a little bit of momentum, but that market reaction has been pretty minimal. we have to guest on the show. we will talk about china's debt addiction and the china economist, who thinks he got a does not look as bad as it seems and we will ask her why. we are counting down to thailand gdp coming up. down in terms of on quarter, growth may have slowed as of market volatility. we will digest those. we're also talking about virtual reality, the worse of the video stars and china's internet titans or investing in. more of that coming up. iaae-m" ♪ yvonne: happy monday, the 16th of may and 90 von man in this is trending business. ♪ we will be live in sydney, beijing and singer of the summer, but first, this is what we're wa

shery: the dollar weakness and a narrowing gap contributing to the yen strength as pressures inld inhe u.s. participate japan. the comments are coming at a time when the u.s. is stepping up rhetoric on markets. they say japan is among countries put on a watchlist to gauge whether therefore exchange practices provide an unfair trade vantage over the u.s. the report says it in no way restrains japan's abilities to respond. the treasury pointed out it is important that japan use all quality lovers, including fiscal policy and structural reforms. they have been under fire japan's opposition leader telling the ft that halloween amex -- abenomics is failing. that he agrees that the investing --ow of the problem was that shinzo abe was not doing this. --ut a -- terra-cotta takata diving deeper. rishaad: and also talking to dominic schnider about that. tweet us your thoughts. china's factories exhibiting more encouraging signs of stability, if buying that further stimulus may not be needed. stephen engle is is looking at the latest index. previous it indicates easing has worked into the chin

shery: we sorted through the highlights and highlights -- low lights and highlights.s rally but is a slump really behind us? >> i'm shocked this market is