taylor: that was facebook coo sheryl sandberg.on facebook and antitrust uncertainty, mark zuckerberg is defending the company's acquisition of instagram in 2012 which critics say facebook did to eliminate an emerging rival. when the headline came out that instagram was the focus of an antitrust probe, is that what he is hearing from regulators? guest: it must be because he kind of volunteer that information a little but on the earnings call yesterday, talked about the acquisition of instagram and how that's going to be discussed at lot it sounds like in the near future. he brought up, to your point, their view on this, which is that it wasn't a direct competitor but complementary to what they were building. he did not see it as directly competing with the news feed at the time, and it's kind of a valid argument because instagram was at the time very small. facebook is painting a picture that instagram only became the behemoth we know today because of facebook's help. we will never know the actual answer to what instagram could hav

kailey: still ahead, a conversation with facebook chief operating officer sheryl sandberg.lus, exclusive insight on the fed. >> we have made some adjustments in our policy rate. we will continue to give significant support to the economy. kailey: next, a deep dive into a flood of earnings reports with european banks front and center. >> about 60% of the drop in revenues your own year is the impact of decisions we made. kailey: this is bloomberg. ♪ kailey: this is "bloomberg best ." i'm kailey leinz. let's continue our global tour with the earnings reports from companies around the world. hsbc was the first of major banks to release results. hsbc missed on the third quarter. 12% to $5.3t fell billion. they also drop their profitability goal, and warned of significant restructuring charges. >> when you look at what we have announced today, you can see within the results a mix of the good and the less good. but has changed over the course of the year is a fundamentally different position on a few things. firstly, the interest rate outlook changed. isondly, i think the market c

taylor: that was part of our exclusive interview with facebook ceo sheryl sandberg.ebook cambridge analitica scandal of 2018 shows us just how vulnerable our personal data is online. one of the people at the center of that at that time was whistleblower britney kaiser has a new role and mission. we caught up with her at the sooner than you think tech conference in new york this week. >> since becoming a whistleblower i have sought to explain to people exactly how important their data is. it is now the most valuable asset on planet earth, more valuable than oil and gas, and on a day to day basis this is being taken from you by companies all around the world making a multitrillion dollar industry off your most private information. that sounds a little gloom and doom when people think they can't get their privacy back but the truth is people have agency. there's a lot of things we can do on a day-to-day basis to protect ourselves and legislators and regulators are finally listening. there are fantastic laws that that have been introduced that not only can protect the he

in an exclusive interview with bloomberg's caroline hyde, sheryl sandberg explained why.: we are not doing it because of the money. this is less than 1% of our revenue, and the revenue is not worth controversy. what mark said is, we believe in free expression. we believe in political speech. and ads can be an important part of that. where we are really focused is and i think we are leading is on transparency. we put out an ad library. we now announced a tracker, which means you can see any ad anyone is running who is a political candidate anywhere in the u.s., anywhere in the world, if it is not targeted at you. that kind of transparency we think is really important to people understanding. you also talk about investing, investing in protection. one of the things we talked about on our earnings call was the size of the investments we are making, prepared for 2020, working with election commissions all over the world, hiring engineers, using machine, using human reviewers, doing what we can to make sure people are kept safe. caroline: so when twitter decides to go the oppo

brad: that was facebook's coo sheryl sandberg at bloomberg's the year ahead conference in new york. us now is david goldstein, ceo of togo labs. prior to that, he was president barack obama's lead pollster. thank you for joining us. let's unpack what we heard from cheryl. first, she said the democrats are outspending president trump on social media. i felt like that is a little misleading because there is a competitive democratic primary going on now. but is there any kind of advantage at this point that is meaningful that we can talk about in terms of social media advertising? david: if we wanted to discuss the inborn advantage the trump team has gained, we can talk about the $27 million they have spent on facebook since the 2018 election and how many of those ads have any of the rest of us been able to see and vet. facebook has a lab library but it is difficult to penetrate and look. you don't know how those ads are being targeted and who they are being served up. i think you make an excellent point, how incredibly misleading it is to say, well, the democrats are spending all of h

sheryl sandberg is right.ome reports are disputed and there is some nuance of censorship of basically a different point of view towards free speech. i think there is something to this critique. how facebooke manages contact -- content, but somethingwant to like closely aligned with the chinese government either. something else tangential to this is the political at issue. facebook said we are ok with basically misinformation. a lot of people, including facebook employees, have pushed back strongly. you might see some adjustments. you are not going to change the policy overall, but there has willingness to negotiate on targets. we will change the rule on who you can target that adds to or something along those lines. taylor: great interviews today. that was bloombergs max chafkin. thank you for joining us. coming up, a saudi spy plot. turns out former twitter employees may have been using the service to spy on users for the country. that's next. and "bloomberg technology" is livestreaming on twitter. be sure to

sheryl sandberg defended the social network at bloomberg's the year ahead conference in new york on thursdays is a major test for us and we are building on some success. 2018, the midterms were very focused. from everything we know today, they went very well. eu parliamentary elections -- we have had a lot of elections since then but we know this is a big one. this is the highest priority for the next year. >> you have not been afraid of perhaps -- for what mark and you have said passionately about, ensuring that discord is there for those to be able to discuss. talk to us about political ads and why you have chosen not to ake them off facebook, but actually still allow them to run even if they may not be correct. sheryl: this is a really complicated issue. it is hard and there are a lot of strong positions. we are trying to be very thoughtful on this. in the debate, there are facts getting lost. one of them, i think there are a bunch of people that believe things, like the biden ad everyone was upset about, is only running on facebook. that is not true. these ads are running on google, yout

sheryl sandberg is right.e of these critics are right haveat tiktok that there been reports -- there have been some reports of censorship, of basically a different point of view towards free speech. i think there is something to this critique of, you know, you manageske how facebook content, but you are really not going to like how a company closely aligned with the chinese government manages conte nt. something else tangential to this is the political at issue. -- is the political issue. facebook said we are ok with basically misinformation in political ads. a lot of people, including some facebook employees, have pushed back strongly. you might see some adjustments. they are probably not going to change the policy overall, but there has been a willingness to negotiate on targeting. this book is not going to fact check political ads, but we will change the rule on who you can target that adds to or something along those lines. taylor: two great interviews and stories today. that was bloomberg's max chafkin. t

i agree with what sheryl sandberg is saying.ly spoken to some women who have said they don't need male allies and the feeling is, talking about male support and champions undermines me. aren't i good enough? i'm curious what your take was. do men need to be part of the solution? carol: part of the issues and challenges women face may be created by men. involving men in the process and dialogue and building their awareness and the challenges in the issues women face in the industry enables them to really be a part of the solution and there are so many great men in our industry that care deeply and believe in this issue and want to be a support and resource and help. >> that was carol kim. rishaad: breaking news. briefing, saying the government in hong kong has the capability to stop the violence, saying that citizens need to distance themselves from what he is calling rioters. aredded the consequences unthinkable if this violence continues. another headline. cheung saying they have the confidence and capability to stop the violen

those people, mark zuckerberg, sheryl sandberg and so on, they have a response ability to the shareholders and also puts them in a tight spot about how quickly to be how transparent. >> host: 90% of our conversation has been about facebook and twitter. could we be including anybody else? >> guest: everyone else. we make this point in the paper that facebook is the poster child for this conversation at the moment and twitter but there are a number of other platforms that are involved and are important in this conversation. for instance, messaging services are important because a lot are encrypted. take for instance what's app or a telegram, these encrypted services could be spreading and we know they are by examining public what's cap messaging groups and spreading misinformation that has been linked to genocidal killings in india and fake news in brazil and oxford study noted that a full third of the information before the swedish election was false and misinformation. so, we have to think about all potential platforms. each one has a different role to potentially play in this. i describe

those people, mark zuckerberg, sheryl sandberg and so on, they have a responsibility to the shareholders also puts it in a tight spot about how quickly to be how transparent tram 90% of her conversation today today has been about facebook and twitter. should we be including anybody else? >> guest: everyone else. we make this point in the paper. facebook is sort of the poster child for this for the converst the moment, and twitter, but there are a number of other platforms that are involved and are important in this conversation. for instance, messaging services are very important because a lot of them are encrypted. take for instance, whatsapp or telegram. these encrypted services could be spreading out and we know that they are by examining public whatsapp messaging groups, spreading disinformation that is been linked to genocidal killings in india, has been linked to fake news in brazil, and oxford study noted that a full third of information before the swedish election was false, misinformation on social media platforms, online. so we have to be thinking about all of the potential pla

is also looking for communications between facebook executives including mark zuckerberg and sheryl sandberg it turned general said today that so far facebook's response to the subpoenas has been inadequate and they are now asking up for a court to force the company to comply. we have. spring of 2018. >>been looking into allegations that facebook violated california law by among other things deceiving users and misrepresenting its privacy practices. those are serious allegations. when you consider the personal information that we all supply to facebook every single day. now the attorneys general is also asking that if anyone at facebook has any information. >>about the company's a privacy policies and an ad the relationship to user data to reach out to them, they're also asking that anyone in the tech industry in general who might have some information on this to also reach out to the attorneys general's office but for now in san francisco charles clifford kron 4 news. >>a judge in contra costa county has been removed from office the commission on judicial performance as a period court judge

those people, mark zuckerberg, sheryl sandberg and so on, they have a responsibility to the shareholdershat also puts them in a tight spot about how quickly to be how transparent. today of our conversation has been about facebook and twitter. should we be including anyone else? >> everyone else. we make this point in the paper. -- there are a number of other platforms important in this conversation. for instance, messaging services are very important because a lot of them are encrypted. take for instance whatsapp or telegram -- these are encrypted services that can be spreading, and we know that they are by examining public whatsapp groups, spreading information linked to genocidal killings in india and linked to fake news in brazil. an oxford study noted that a full third of the information before the swedish election was false. misinformation. on social media platforms online. so we have to be thinking about all of the potential platforms, each one of them has a different role to potentially play in this. them, one byny of one in my book. and i describe why they are important for these

kathleen: facebook coo sheryl sandberg.xt, international capital strategies' coo will discuss the .atest trade headlines this is bloomberg. ♪ sophie: this is "daybreak asia." i'm sophie kamaruddin in hong kong. kathleen: i'm kathleen hays in hong kong. u.s. and chinese authorities confirming any trade deal would concessions, and the news sparked a rally. to coo of theurn advisory firm international capital strategies. from whatgh the noise is significant here. markets are so nervous. any headline that says nothing is going to happen, everybody trades on it and there could headlines before suggesting they are methodically working. >> this is a particularly active newsday for trade-related issues, and i think part of it is the chinese are using the press as part of this negotiation now. i would not be surprised if we don't have a lot of twists and turns in this story as we lead up to whatever the date is that the leaders decide they are going to actually meet and agree to whatever the phase one deal is, and i do think there w

we will have a conversation with sheryl sandberg, facebook coo, at 9:00 a.m. eastern time. program, john waldron, goldman sachs president and coo, joins us live from goldman sachs' analyst impact day. this is bloomberg. ♪ alix: this is "bloomberg daybreak." i am alix steel. highs forecord equity s&p futures. up .4%. getting a boost in europe after qualcomm delivered stellar earnings. no doubt that leads to a decline in treasuries. you are seeing a big underperform or in italy. the exception will wind up being .he u.k., the curve steepening additional jobless claims right now. 211,000. slightly higher. all in all, stable, because the rhetoric was at some point you will wind up seeing the impact of the g.m. strike. so far, it does not seem we have seen that impact. the question that comes from yesterday is the bad productivity number we got, what that indicates in terms of margins in wages. romaine: you can see on the jobless grahams -- the jobless claims we are hovering around the 200 day moving average. we are still stable, which i guess could be interpreted as a good sign.

sheryl sandberg told bloomberg news on thursday things won't be the same this time around. >> we thinkelection is a mass i test for us, and it should be. elections have changed. we have changed as a company. 2016, of back to course we were prepared for actors. vulnerable are our election systems to heart attacks? it depends on what you ask. the u.s. government says russia, china and iran will seek to meddle in u.s. elections going forward. joining me wednesday was a pair of ethical hackers. alex from the university of michigan computer science professor successfully hacked voter machines in the past to prove vulnerabilities and the founding partner of cybersecurity form nordic innovations. is many ggest risk don't have a paper record. taylor: do you agree that is also the biggest risk? >> it is one of the biggest risks. the other part of this is the u.s. voting machines generally don't keep forensic evidence. if there is a false claim, knees machines cannot prove that everything went right. in case that really requires in order to have -- regain the public trust, that it can prove the

is also looking for communications between facebook executives including mark zuckerberg and sheryl sandberg the sarah says facebook's response to the subpoenas so far has been inadequate. >>sing that song it's like a time for us to exhale the in at moment, feed off each other's energy, and just give the freedoms that how fun learning and with our day. >>when teachers using a popular song by lizzo to teach her students to be great. and the impchment inquiry that sonar will begin public heari ♪ ♪ ♪ ♪ ♪ >>capitol hill is bracing for the release of mo transcripts from those closed door depositions in the impeachment inquiry, a key witness has revived. >>testimony confirming now that there was a quid pro quo with ukraine suzanne malveaux reports. a stunning reversal from gordon sunland now admitting there was a quid pro quo between president trump and ukraine. >>over military aid the trump campaign donor turned us ambassador to the european union's submitting a 3 page provision to the testimony he gave last month saying statements of top us diplomat to ukraine bill taylor and former top advisor

sheryl sandberg told bloomberg news on thursday things won't be the same this time around. : we think the 2020 election is a massive test for us, and it should be. elections have changed. we have changed as a company. if you look back to 2016, of course, we were prepared for state actors. what they did was hack in and take information. this new, more insidious stuff, we were totally unprepared. we never thought of it. we missed it. everyone missed it. that's different now. taylor: now with elections on the mind this week, state and local voters headed to the polls tuesday. this as we began the one-year countdown to the 2020 presidential election. how vulnerable are our election systems to hackers? it depends on who you ask. the u.s. government says russia, china, and iran will seek to meddle in u.s. elections going forward. hacking was one of the topics we covered in a special election series. joining me wednesday was a pair of ethical hackers. alex from the university of michigan computer science professor successfully hacked voter machines in the past to prove vulnerabilit

this hour, we will hear from facebook coo sheryl sandberg, who set out for an exclusive interview withhe bloomberg after the company reported earnings on wednesday. again, the interview later this hour. coming up, political ads on social media sites like facebook coming under scrutiny. play,r makes a big announcing it will stop accepting ads from candidates for elected office. details ahead. if you like bloomberg news, check us out on the radio. you can listen on the bloomberg in theoomberg.com and u.s. on sirius xm. this is bloomberg. ♪ >> twitter announced on wednesday it will ban political advertising from its platform globally starting november 22. ceo jack dorsey tweeted to the move, saying we believe political message reach should be earned and not about. says theg opinion's -- decision clearly upstaged facebook. she weighed in on the matter thursday. >> he was already under considerable pressure if you have people like joe biden and elizabeth warren and alexandria ocasio-cortez all piling on, criticizing mark zuckerberg and facebook about their policy. i am not sure jack dorsey

coming up a little later, caroline hyde in conversation with the facebook chief, sheryl sandberg, atin new york. you can catch that interview live on bloomberg tv and radio. this is bloomberg. ♪ "bloomberg surveillance" from brussels and new york. suddenly, s&p 31 100, michael metcalfe in london. where do i find the courage to stay in the market? theael: courage comes from fact that you are probably been too defensive all year and the tail risks you are worried about, recession trade war -- recession, trade war, brexit, that is where you get it from. you get it from the fact that people haven't believed the rally all year, and if recession risk is falling, there is hope around the trade war, that is the reason. tom: you have huge knowledge, i know it is secret, about money flow. give us the picture you can about what people are actually doing with their marginal investment dollars. we've seen this odd situational year where it has been a little bifurcated. moneyve definitely seen go into safe havens like gold, money held back in cash, and what money has gone into equities has typical

is also looking for communications between facebook executives including mark zuckerberg and sheryl sandbergarah says facebook's response to the subpoena so far has been inadequate. >>relieve traffic congestion because taking an uber lyft is soon going to cost people more the changes you can expect after san francisco, voters approved proposition d. >>plus santa clara police asking for the public's help in solving a number of cold cases flooded apartment is now reaching out. >>a cool fog settling over the city of san francisco right now but could we soon see a few raindrops we'll talk about >>asking for your help this month to sol murder cases, a santa clara police say they ntinue to investigate a handful of unsolved murders but thedo not have any active leads to pursue kron four's ow well below explainwhy investigators are reaching out now after solving half. >>a dozen cold case murders in the last decade, the santa clara police department still has 6 left assault and even though some of these cases have boxes and shelves fied with evidence they still need the public's help. >>i mean there'

is also looking for communications between facebook executives including mark zuckerberg and sheryl sandberg it turned general said today that so far facebook's response to the subpoenas has beeninadequate and they are now asking up for a court to force the company to coly. we have. spring of 2018. >>been looking into allegations that facebook violated california law by among other things deceiving users and misrepresenting its privacy practices. those are serious allegations. when you coider the personal information that we all supply to facebook every single day. now the attorneys generals also asking that if anyone at facebook has any information. >>about the company's a privacy policies and an ad the relationship to user data to reach out to them, they're also asking that anyone in the tech industry in general who might have some information on this to also reach out to the attorneys general's office but for now in san francisco charles clifford kron 4 news. >>well, the next time you take an elevator at certain downtown san francisco bart stations, you'll see somebody there to give you h

about that story is yesterday they had to file some court paperwork saying that zuckerberg his sheryl sandbergtimately are blocking information from get into the california tourney journals hands. 18 months of investigating the company. that's a long time. so th're on to mething and it basically tell you bad news is coming down the road for facebook california say that mark zuckerberg is dragging its feet. the probe has expanded into the 3rd parties access to user data which source supplied by facebook to some of advertisers but not all of ad that in of itself like why are they favoring people. brings up questions about which apps facebook credit access to user data which ones they did it. she's been used other eye on shares of facebook are not freaked out. it's kind like a good problem to have when you're 20 generals investigated you t trust issues. some extent, yeah and so we'll see is a and abc that should see how the political environment changes, potentially over the next year and what that means for facebook another big. need to bring up real quickly coca cola. got a tip that you're goin

is also looking r are communications between facebook executives including mark zuckerberg and sheryl sandberg the sarah says facebook's response tthe subpoena so far has been inadeqte. >>we'llake a quk break it's 6, but still ahe the ncade fire is full contained eat news and now students from school in windsor, heading back class will have an update in a live report. so t oakland raiders getng ready for its prime-time game tonight against the chargers we'r going hear from quarterback derek carr and his thoughts derek carr and his thoughts old haa tae so richgame. can take you toreland's lush, green pastures. where grass-fed cows produce rich, creamyilk for a truly delicious taste. kerrygol the taste that takes you there. ♪ a you ready ♪ are you ready for some fun ? ♪ ♪ are you ready? ooooooooo... ♪ ♪ i'll sh you something neeeeeewwww ♪ ♪ i'll show you something, ♪ i'll show you something ...neeeeeewwww♪ ♪ a former army medic, made of the we maflexibility to handle members like kate. whater monday hain store and tackle fouthingst once. so when her car got hit, she didn worry she simply filed a

the reporting of sheryl sandberg, "john bolton, president trump's national security advisor, met tovatelys part of a bit persuade the president to release $391 million and security assistance to ukraine, that according to what was told to house impeachment investigators last month. mr. trump's cabinet secretary as well as top national security advisers to convince the president that it was in the best interest of the united totes to unfreeze the funds help ukraine defend itself against russia, but mr. bolton emerged with mr. trum unmoved, interviews as perhaps the most single important witness to have evaded house democrats of the building case against the president and allegations of abuse of power of the presidency by withholding vital military assistance in a couple of white house meeting agree toine until they the investigations that he wanted, significant of his potential testimony." again, this morning, from page of the "new york times." let's get to your phone calls and your tweets, including this from steve who says, "last week was a good week for america's patriots, a bad week fo

this legal filing in california is they want access to some e-mails from mark zuckerberg and sheryl sandbergty important because this was excluded as part of the ftc $5 billion settlement and indications are maybe, maybe mark zuckerberg according to "wall street journal" reporting might have known about the problematic privacy practices at his own company that he was overseeing. now, california importantly, by the way, is not part of the 40 bipartisan state attorneys that want to look into possibly antitrust and these strong positions that facebook and google now position themselves in terms of advertising revenue, et cetera, et cetera. stuart: seems like almost every day there is a development on privacy, whether it's google or facebook. neither stock ever tanks because of it. susan: unless it has real teeth and there's implementation and a real threat of a breakup which only happens at the federal department of justice level, there is going to be no impact on the stock. stuart: that will be way down the road if it were to happen. good stuff. thank you. >>> check out futures again. we have