stephanie ruhle is keeping busy, standing by to interview the ceo at the new york stock exchange. stephanie: welcome to bloomberg this afternoon and let's start by going global. nike has been killing it but we have got to look at china. this is a greece growth story for you but the headlines are negative about the chinese consumer. do you think we will see a slowdown? seeing it.t in china, the brand is incredibly strong in the market is good for us in terms of sports participation on the rise. it is a mobile he connected community digitally and that is good for us. the digital platform is actually doing quite well. over the last couple of years in china, it has proven to be initful for future growth china. consumers want authentic rands and they are voting every day and nike is actually doing quite well. we expect the pipeline of innovation that we have coming and the work we have done to get the operational foundation set for years to come, it has put us in a great position in china. stephanie: since so many consumers love that nike brand, do you see yourself selling off those lab

stephanie ruhle sat down with the republican front-runner in new york. talked politics, the economy, and the fed. stephanie joins us next. ♪ those make america great .-shirts and hats -- yes that is what you would spend that much money on it. welcome back. i'm betty liu. let us start with the bloomberg first word news this morning. vonnie quinn has more from our news desk. vonnie: we actually start and hungry because it is closing its quarter with croatia at midnight to stop refugees. a razor wire fence was completed earlier this week. nearly 40,000 migrants have entered hungry this year, most of them trying to reach germany. hungry has arrested hundreds of them under newly passed border laws. meanwhile, a european summit on refugees and the crisis ended in a stalemate over money. angela merkel says the eu had a proposed agreement with turkey on containing the flow of migrants and refugees. other members of the group are dragging their heels over how much aid to give the turks. turkey is harboring more than 2 million refugees. russian airstrikes in syria

david westin and stephanie ruhle will sit down with ben bernanke he.heading to the vanity fair new establishment summit. emily chang will highlight what west."d on "bloomberg ♪ david: welcome back to the bloomberg market day. the vanity fair new establishment summit where emily chang is there on the ground talking to all the newsmakers and tech. you were talking to ed williams. emily: yes, we did speak with the cofounder of twitter. since namingerview jack dorsey permanent ceo of twitter. interesting to see his unfiltered take on how they arrived to this decision and what you think's about the fact that jack will be doing two jobs at the same time. musk does not recommend it. >> i don't think jack would recommend it either. he has his commitments at square. it is not ideal. we don't want anyone's time split. it did not change the fact that we feel a key is the best choice. -- feel like he is the best choice. >> they did talk to a lot of outside candidates he felt jack is the best person for the job despite that he has another very important job as well

stephanie: and i am stephanie ruhle. here with our favorite canadian, erik schatzker. oomberg ," and mark lacerate is here with us --marc lasry is with us. he is with us for the hour. stephanie: i would like to point out he is the founder with two women. erik: i could not agree more. we need to know what is up and down. matt miller has your the market movers. matt: futures have been up all day. they continue to climb. 7/10 is the gain you see. if you look at bonds, you will see some change there. a little bit of churn. bond yields are climbing. that means investors are now selling. earlier today, we had them buying everything. now it looks like they are willing to sell out of bounds as well. the 10-year yield, notably, was below 2%. it is back up a little bit there. also, toome movers, look at today, as far as the stocks we are following. and currencies -- sorry, currencies first. currencies are also changing. you had dollar weakness against everything except for the pound. you have dollar strength now against the euro and the pound. that has turned around. you have

me now to talk about that exclusive interview, stephanie ruhle. ck by what he said forcefully, that it is impossible to go up against the u.s. government and win. david: -- stephanie: that is the position he is in. remember, in the past he has come out swinging, saying that he is trying to operate his bank with the regulatory foot on his that oned he realizes of the regulators are saying, privately, amongst other thought leaders they are saying -- this sucks, we cannot seem to get anything done. that's what's depressing. all this regulation, a lot of it has simply been talked about and proposed. seeing it actually implemented. if we have another crisis caused theiquidity in the market, shadow banking system -- we talked a lot about regulation and the threat of it, but what was put in place? not much. you asked him if you asked him if he would ever consider a career in politics. mr. dimon: he said he would not run for president, but the things we were talking about were not necessarily the weeds of what was happening inside the bank. given the scope

has given his views on china and international diplomacy to bloomberg's stephanie ruhle. oval office, your first-day, first week. who are the first four global leaders you are calling on the phone? anytrump: i may not call global leaders. stephanie: stop. diplomacy. mr. trump: i have great relationships. we are talking about china. china is ripping and yet, they don't even like us. business week magazine had an article where, i'm very critical of china, i have a lot of friends from china. by the way, they cannot believe that they get away with it. the 10 things that the chinese people most want. do you know what the 10 things? anything trump. they know my attitude. people in china, people in mexico, people from all over -- and they buy apartments for me. they pay me a fortune. i like china. i like mexico. but they cannot believe they get away with what -- and friends of mine that are very big people, they come over for dinner. and they say, we cannot believe your government is so stupidly. i have toruhle: if say something i'm afraid of it is when i say who are the four fo

john: today our pal and colleague stephanie ruhle spoke with mr. donald trump, largely about the topic of money, something he knows a lot about. abouts what he said senator elizabeth warren. calls fromeceived the biggest people in this country saying, if you win i would love to represent -- they have a lot of money. >> you know who would love it, elizabeth warren? donald trump: i think she wants to see good trade deals. i think elizabeth warren, as as it may as bad sound, doesn't want to see the country lose 400 billion dollars per year to china in terms of deficit. i think when you explain it even to her and to people you consider somewhat radical on the left, believe me they are going to want to see these people. these are tremendously successful people. conversation that arrington tomorrow on bloomberg at 7:00 eastern time. carson have and ben threatened to pull out of the upcoming cnbc debate on october 28 if the candidates are not allowed to make opening and closing statements and a cnbc says the debate is going to last longer than two ho

earlier today, jamie dimon spoke exclusively to stephanie ruhle.t he said about what banking will look like in five years. look at it: i always from the standpoint of the client first. if you say large corporations will need equity debt derivatives, cash management, all the services we provide, and look at consumers, they will need deposits, investment advice, credit cards, more into mobile phones. there is a need for what we provide. we will be providing services in the most economic way so clients are happy. our clients are very happy with us. customer satisfaction scores have never been higher ever. why does populist opinion still hate on banks every chance they get? jamie dimon: banks got tarnished. that was a scarlet letter all banks got bailed out which was not true. a lot of big banks and a lot of small banks lent money. this is an important fact. throughout the whole crisis, to middle market companies, small businesses, and individuals at the same price. the market does not care. the market pulls out. we kept rolling over. i remember gettin

stephanie: i'm stephanie ruhle. we started strong and we are continuing. us.r or zag joins welcome. the new house. brendan joins us. brenda: it is nobel prize day! >> in economics. stephanie: look how excited he is. and jeff mccracken joins us. david: we've got a lot to cover. let's go to "first word." vonnie: thank you so much. dell has agreed to buy emc. $67 billion is the price tag. dell went private two years ago. the american newspaper reporter has been convicted. behind closed doors on a variety of charges including espionage. the nobel prize for economics. deaton is best known for how individual consumers make choices. here is matt miller. matt: thanks very much. let's take a look at futures. not a heck of a lot of music -- movement. basically unchanged. the story of the day will likely be oil. everybody is talking about this $50 per barrel mark. we are hovering around it. $49.80 per barrel right now. stocks at thergy best weekly gains this year so far as investors got out of the stuff that was making them money and got into the staff that was oversold. the same is true for ma

the controversial businessman was seeking the nomination has given his frank view on china to stephanie ruhlehanie: you are in the oval office, it is your first day, first week. who are the first four global leaders you are calling on? donald trump: i would have them call me. excuse me, iay -- know more about diplomacy than anyone else. china is ripping us. and they don't even like us. business week magazine had an article where i am very critical of china, i have a lot of friends of china. they cannot believe they get away with what they do. the 10 things the chinese people most want, one of them is anything trump. i cannot believe it. and they know my attitude. people in china, people in mexico, people from all over, they buy apartments from a. they pay me a fortune. i like china, mexico. but they cannot believe they get away with what they do. and friends of mine, they come over for dinner and they say we cannot your government is so stupid. stephanie: if i had to take something i was afraid of, i say who are the four foreign leaders -- donald trump: i may not call them. it is all very dee

. -- andres will be joined -- andwill be joined morse bill ackman sits down with stephanie ruhle at 4tern. thank you for much. we will have more in just a moment. -- thank you very much. we will have more in just a moment. ♪ >> it is 3 p.m. in new york, 3:00 a.m. in hong kong. welcome to "the bloomberg market day." ♪ good afternoon, i'm pimm fox. here's what we are watching at this hour. selling and biotech and health-care stocks leading the nasdaq lower. , we will find out why the bears are in charge. commodity prices surged today. crude oil gaining more than 4%. companies like freeport macro ran surging ahead out there, we have got details. microsoft releases three new smartphones and tablets. microsoft, can he make a dent in an already saturated mobile phone market? this is

i'm stephanie ruhle. boy, did you have a big day yesterday. had a big day with the presidential front-runner, the one and only mr. trump. david: i cannot wait to get to that interview, frankly. i want to introduce matthew winkler. thank you for being with us, as well as mark halperin. respect," the afternoon program. great to have you with us. we want to start with vonnie quinn. vonnie:

i'm stephanie ruhle. david: welcome. the most: this is influential conference.ak down the interviews. jeff smith. that's break it down. bob dry filled, we have

stephanie ruhle will be interviewing bill ackman. we are really looking forward to that. in the meantime, we want to check in with mark crumpton. he has our headlines. much.thank you so a former united nations president is accused of taking more than a half-million dollars in bribes. federal prosecutors say john ash was paid off for steering lucrative investments in government contracts. he was the u.n. president in 2013. a wealthy macau developer and four others are facing charges. the national transportation safety board has opened an investigation into the sinking of a cargo ship near the bahamas. all searches have found is one body, a life riserva, and a heavily damaged life vote. the ship sank last week. 33 people were aboard, 28 of them were americans. south carolina gets a break today -- the rain has finally tapered off. floodwaters will keep rising in parts of the state. off likes are cut islands after the record rain storm washed out roads. at least 14 people have been killed in south carolina with another two dead in north carolina. some 40,000 are without drink

stephanie: i am stephanie ruhle. david: it is a bank morning. stephanie: here to kick us off, our own christine harper, finance under, and stephanie mehta, editor of "bloomberg live." we have a big day. david: we do. i am looking forward to that interview. stephanie: tweet me your questions. i need some help. david: earnings just came out for morgan stanley. we go to matt miller. matt: we're looking at a big miss on morgan stanley earnings. profit was $.48 a share compared to $.83 earlier. but if you take out an accounting gain, it was 34% skim -- it was $.34. $.34 compared to $.63. obviously a big miss on the bottom line. we are also seeing a big miss on the top line. a $.5e looking for billion and we got $7.7 billion instead. so missing on the bottom and the top line. the reason morgan stanley says is a loss of private equity investments. that is no surprise to we have seen that across wall street. it is definitely affecting organ stanley, combined with a loss, more seriously than other banks. harper,e: christine when morgan stanley is saying t

i'm stephanie ruhle. david: i am david westin. i notice you are in orange. what a surprise. you would be in costume. stephanie: i would like to, but the man sitting with us today, bloomberg editor in chief matt winkler would not be willing to sit here while i am in costume. matt: no comments. david: let's start with the first

i'm stephanie ruhle. boy, did you have a big day yesterday. stephanie: i had a big day with the presidential front-runner, the one and only mr. trump. david: i cannot wait to get to that interview, frankly. i want to introduce matthew winkler. thank you for being with us, as well as mark halperin. respect," the afternoon program. great to have you with us. we want to start with vonnie quinn. benie: volkswagen appears to feeling the impact about emissions test scandals. than thew slower entire market, and vw's market share was the slowest since march. turkey says it shot down an aircraft that was violating its airspace. according to the turkish military, the aircraft crossed into turkey from syria. the turkish television network says the aircraft was an unmanned drone. in southern california, 700 vehicles are stranded on a freeway after a flash flood caused a landslide. it happened on interstate 540 miles north of downtown los angeles. no reports of injuries. it could take 24 hours to clear the road. now for a check on the markets. here is matt

and be sure you tune in tomorrow for more on ben bernanke, because he will be sitting down with stephanie ruhle and others. bill? what would you ask? bill: why are they so concerned with liquidity? to increase in december, liquidity conditions are terrible then, and if they get a slow increase, will the corporate bond market and other markets have enough capacity to stop it from being volatile, even when you have a slow increase? volatility and illiquidity. illiquidity is something the imf and everyone else is worried about. seem like ay ridiculous question to people, especially given that short-term interest rates are basically at zero, that is monetary policy loose right now, or is it essentially neutral? his: i think everyone and brother-in-law will say it is hyper, hyper accommodative, and the question is how fast can we alleviate this? as the price becomes more normal, because right now, you see a menace amount of ill positioning in the markets breed people are out of their mandates. they have gone to higher and higher yields and higher and higher risk assets just to get yields, so what we

he spoke to stephanie ruhle on bloomberg and said beijing is still facing some huge issues. >> chinaad 20 years of 10% growth uninterrupted, never before seen on this planet. reform, itto market is the state owned enterprises have more transparency. they need will bond markets, collateral markets, reduce corruption. they will have bumps in the road. in the summer, they showed they will have bumps in the road and the growth will not be 10%, might be 6% to 7%. that's $600 billion of growth. that's a lot more than 15 years ago when it was 10% growth. 600 billion dollars is more than most countries on this planet, so they have the wherewithal. 3.5 train dollars in foreign exchange reserves. they are quite bright. they move rapidly. they had huge issues. they are dealing with their issues. we should work with them. greatestas the military defense ever designed, the atlantic and the pacific, and we have friendly neighbors in canada and mexico. we have all the food, water, and energy we will need. china is surrounded by historical enemies. russia.d a war with japan, philippines, north korea

i'm stephanie ruhle. david west in.being here with us. >> i have to tell you i am a bit rattled today. i am. i sat down with bill ackman last night. we will be sharing that interview with you. his production for 2016 was not about the fed about herbalife, about biotech. it was about mike bloomberg. if you are looking for "bloomberg

scarlet: stephanie ruhle joins us now. ng you asked him where he stumbled or didn't want to broach? stephanie: he didn't stumble. in fact, he was more careful than we have ever seen. i really wanted a push him in terms of regulation. he has already said for a cleaner, writer, stronger wall street. we heard the same thing out of brian moynihan. they need more consolidation of the regular tory bodies. you have sony regulators at this point. we are still not getting enough impact. he says he is not going to see in his career, possibly his lifetime, all the regulation against talked about actually implemented. you talk about all these possible pitfalls in the market. if we don't regulate the shadow banking system, it's going to be a big problem. if we don't ago closer look at tgs comments yes, it's going to be the problem. the problems around the corner. and we still don't have dodd-frank truly implement it, we are going to be saying where is this? is not enough funding for smart regulation. alix: what was the biggest surprise

i am stephanie ruhle. >> i am david weston. let's kick it off with steve case. loomberg. also with us, bloomberg executive at her christine harper. we love to have christine with us. stephanie: guess who's joining us in 30 minutes? bloomberg "surveillance" is still here. it is on the radio now, but tom will be joining us on set. david: he is a very tall man. stephanie:

bloombergday stephanie ruhle and david weston sat down with chairman and ceo of starwood capital very stern like and explained what is wrong with the global economy. great fiscalhis and monetary experiment around the world. everyone knows it is toxic. you should not be able to do what is happening. when japan is printing money with 258 percent gdp and making more of this paper, if you are a normal economy, you should be able to do this. scarlet: does that mean market volatility is here to stay so lets the u.s. is better off right now. we are the bright shot. fundamentals are pretty good for the property market. we have a big energy business and we can still make money in the gas business. the cost of production is so low. there is really good momentum but slowing in the u.s. economy. the global economy is weakening. you are like pushing gas into an overfilled tank. what does that mean for janet yellen? >> she should raise rates and return the markets to normalcy where people feel like the fed is not so involved in manipulating the domestic economy. 25-50 basisnk points, she should rai

i'm stephanie ruhle. i'm excited to be here. deals, and a market that's driving up.'s so much to cover in the next three hours. who better to have as our next guest as steve schwarzman? and steve rattner joins us, who better to chime in on the volkswagen fallout. foeve is the

early this morning, david westin and stephanie ruhle sat down with former microsoft ceo and l.a.ers owner now, steve ballmer, who recently announced his 4% stake in twitter. he reiterated his faith in the company and its new ceo. mr. ballmer: twitter is a company that has all kinds of opportunity. i think there are all kinds of things that can be done better, and i am really impressed with how jack has jumped on top of it, but it is such a strong, underlying asset -- the ability to improve the product, jack is on top of it. the ability to streamline the cost structure, vucevic needed to happen -- jack is on top of it. to continue to drive monetization, jack is there. betty: he likes the guy. he likes jack. david westin joins me now. so, what did steve ballmer say about jack's announcement, giving away one-third of his shares? david: he said it was very generous of him. he made it clear he does believe in the underlying asset. he does believe in jack dorsey. we asked him does he take the position after or before he knew jack was coming in, and he said he took it before. he to get

walmart, ceo doug put a positive 10 on his company and his stock when he spoke to david westin and stephanie ruhlemr. mcmillon: part of what we announced with a $20 billion share repurchase program and it is our intent to invest that in the next couple of years. we believe in our stock price and you see it because we are putting our money where our mouth is. betty: gentleness with more is our bloomberg news reporter who covers walmart, shannon pettypiece. shannon: it is interesting that you mention the walton family. they are the largest owners of walmart and they are suffering big losses. the walton family is on the board. the son-in-law is the chairman of the board. the family is very involved in what is going on here, and you can assume they have signed off on everything happening with the company right now. a lot of these declines and earnings that we are going to be seeing the year, and with stagnant growth over the next couple of years is because the company is investing in employees by raising wages. it was a $9 million minimum this year, a $10 million -- $10 minimum next year. the company

i'm stephanie ruhle. david: welcome. the most: this is influential conference. let's break down the interviews. jeff smith. that's break it down. bob dry filled, we have tom stier, and we have one more. one very special member of the family. >> i'm loving it. the best green room in new york. david: bloomberg surveillance is on radio right now. you can catch him on bloomberg radio. he will be with us 30 minutes from now. stephanie: we are bringing you the morning must-read. for now, let's get you with the first word. the news you need to know. vonnie quinn is delivering. budweiser, maker of they have rejected and informal takeover offer. miller's executives. some shareholders looking for an offer in the $110 billion range. backrd if they will come with another offered. the rain ended in south carolina, but floodwaters are still rising. it may be weeks before officials decide which washed out bridges are safe to drive on. president obama care the way for the hardest hit areas to get federal aid. how many american troops should stay in afghanistan? lawmakers was th

[applause] dallas bill ackman with bloomberg's stephanie ruhle at the bloomberg markets most influential summit in new york. talking quite a lot about politics but he did hit -- he pushed a bit on value. they are seeing an increase in drug pricing. he could behind it and said they are doing things with that money and the market needs it. joe: people on twitter say he is valiant.r defender of prices -- high prices or how you get profits which is hagan investment so, that's the bull angle. scarlet: is not making any excuses for it, he says that's how you drive innovation. other companies do it another way. it's not just -- necessarily to defend it, but that's how it works. alix: you pointed out his biggest stake is in valiant. scarlet: clearly very committed to it. let's get you mark crumpton with first word news. sayse white house president obama will travel friday to our again to sign -- the site of last week's last -- mass shooting. 94 killed and nine others were wounded on the campus of umpqua community college. committed suicide during a police shootout. the air strike that killed 22

stephanie: i am stephanie ruhle. joined by erik schatzker. he founder and managing partner of .eta-capital management nice to see you. it has been made since we saw you. stephanie: extraordinary performance. is a mortgage specialist. we are going to be talking about investment strategy. looking for to it. right now, time for the first one with vonnie quinn. you.e: thank america's longest war will last beyond president obama's term. a u.s. official says 5000 troops will stay in afghanistan into 2017. the president wanted to bring all troops home from afghanistan before he left office. afghan troops and police are having trouble controlling the taliban and al qaeda. releasedtorius will be from prison five days from now. a parole board is allowing pistorius to serve his sentence under house arrest. the paralympic athlete was given a five-year term for the shooting of his girlfriend. we will soon know whether the mets or daughters will reach baseball's final four. the winner tonight will play the chicago cubs for the national league pennant. in th

stephanie: i am stephanie ruhle. erik schatzker is in north carolina. e -- brendan greeley. brendan: you get a better line when you leave it there. stephanie: he said a better body. you asked for that. brendan: that is my exit queue. stephanie: come back. things get crazy at 9:00 a.m.. brendan: what we going to talk about? with brianker moynihan, alan krueger. first, here is vonnie quinn, who will say nothing about my figure. vonnie: i know your figure very well. we did "bloomberg surveillance" together for a long time. $1.3 million was raised for bernie sanders after the debate. says eightr ministry planes attacked 40 islamic state targets in syria. the report says command points, warehouses, and weapon building shops were bombed. it could not be independently confirmed. russia says most misuse officials says it targets anti--rebel targets. the union for air traffic controllers says the shortage of controllers is at a crisis stage and they blame the federal aviation administration. the faa promises to speed up hiring. the problem is you have to get qual

bob: is coming from the big banks, not from stephanie ruhle. we are regulated by finn rough, bythe -- by finn rough -- the fcc -- by the sec. i think the regulators encourage growth below the level of the big interconnected banks. we have had at least a 20-year run leading up to the financial crisis, of globalization, consolidation, bigger and more complex and more interconnected. there are a lot of parts of that that had been terrific and are really good for clients. but now there is an opportunity to build more entrepreneurial, smaller, simple business models. stephanie: is part of that because information is so available now? five or 10 years ago if you were the biggest bank, you had so .uch more information but now, due to technology, it is a more even playing field. what advantage to the banks really have? rapturehave developed technology. it is cloud-based and manages more forms of data. it is not particularly expensive to implement or to run. the big banks are dealing with decades of legacy technology and legacy systems. there is an oppo

and i am stephanie ruhle. we are going to have a huge day. jason kelly is with us. is joining us. we have done big news from companies. for you, the biggest standout moment? jason: the google-amazon the extension to which the big tech companies drive earnings, but give a harbinger of what is to come. it is amazing. matt: png earnings out. $.98 is what we have got. seeing the shares moved down lower in the premarket. we were looking for $.95 and got $.98. sales missed a little bit. look at american airlines. the earnings are out. a beat on the third quarter. this should say to 77. that was the adjusted number. it is a beat. up about 2.2% in the premarket. both companies beating on the bottom line. let's go to first word ms. with vonnie quinn. vonnie: it has been called the worst accident in nearly three decades good a bus was hit, burst into flames. most of the passengers were elderly people. another shooting at a college campus in nashville. an argument over a dice game ended in gunfire. three female students passing by were wounded. donald trump in an unfamiliar si

i am stephanie ruhle. >> i am david weston. let's kick it off with steve case. welcome to bloomberg. also with us, bloomberg executive at her christine harper. we love to have christine with us. stephanie: guess who's joining us in 30 minutes? bloomberg "surveillance" is still here. it is on the radio now, but tom will be joining us on set. david: he is a very tall man. keene is: tom everywhere. but you will see him 30 minutes from now. david: we have a big hour. we will be joined by ben bernanke he and former morgan stanley ceo now bk capital partners john mack. stephanie: let's get you started with bloomberg first word news. vonnie: thank you so much, stephanie. hillary clinton is taking another shot at what she calls risky behavior on wall street. the democratic front roger will propose a tax that would penalize high stakes trading strategies. fiat chrysler has a birdie what would've been an expensive strike. the automaker and united auto workers agreed on a new contract. no details, but the union says it secured significant gains. fiat chrysler workers will b

stephanie: i am stephanie ruhle. david: it is a bank morning. us off, our own christine harper, finance under, and stephanie mehta, editor of "bloomberg live." we have a big day. david: we do. i am looking forward to that interview. steph

stephanie: i am stephanie ruhle. our authority on banking christine harper. i'm tired. te? david: part of it. stephanie: if i wanted to the in a disrespectful fight, i would call my sister. we are going to go to vonnie quinn. republican presidential candidates try to break out of a crowded pack in colorado. the

i'm stephanie ruhle. david: i'm david weston. we have a lot today. we have our favorite friend.host for the hour is the ceo and chairman of starwood. david: matt miller, can we have some breaking news? matt: we are looking for $1.45 eps, and the numbers have not rolled across the ticker yet.

i'm stephanie ruhle. >> i'm david westin. here with us is jim chanos.and will share his skepticism. >> this guy knew enron was coming. he has warned us all about china. matt miller, you have something for us? >>

here's what he told stephanie ruhle earlier this month. >> it is a "platform company." it is a business where valiant has had an advantage in running one of the most efficient companies. pearson is very shareholder friendly. he is very focused on cost control and discipline to about investment capital. that gives him a competitive advantage. he is the high bidder for many companies and products because he layers the product onto his operating model. more efficiently extracting profit from the product, leading to more profits for entrepreneurs and more space in investment leading to innovation. >> will it take to convince investors? here is the bloomberg markets reporter, julie hyman. you have been listening to the call. what did you learn that was different from what he told stephanie? julie: bill ackman is true to form. the call is entering the fourth hour. it started at 9:00 a.m. and is still going strong as he answers questions written in. he is sticking with valiant despite the drop in the stock. the stock is falling to the lows of the session. whatever case he is t

i'm stephanie ruhle. david: i'm david westin. it is tuesday. we have more coming up.f is chief barclays ceo, now executive at atlas merchant, bob diamond. great to have you here. xi jinping is at buckingham palace this morning. there is the queen going down through the color guard.

stephanie ruhle and david are live right now as walmart'ceo at the new york stock exchange. end it to you. stock is already down 9%. we have not seen a decline like this in seven years. wall street is watching. >> we're here today to talk about the future of the company. a long meeting. investors --some investments in people and technology. the market reacted to news that has been in the market. we announced the big numbers and we wait -- raise our starting wage nine dollars and next year, to $10 and that is a big pressure point on top of the economic investment. we described how we will win in the future and we win by bringing it all together. classifying someone who invests and walmart today, while i want to do something that will take three years to really get a payoff? >> next year in particular is where the pressure point is. we have got to get the company positioned to serve the customers in the long term. we're building a technology company into walmart. with investments we are making at store level, it creates short-term pressure. >> were you surprised by the reaction

scarlet: that was kevin plank and michael lewis speaking with stephanie ruhle.bout investors, i was going through mental checklist of which sectors have not been touched by activist investors. it was hard to come up with one. staples, you have png under attack. microsoft caved to pressure to some extent. energy, materials companies, check. alix: if you look at freeport , you do last two days wind up seeing a pop in the stock. are completely bleeding cash as they are trying to get this off their balance sheets. people may not understand what a commodity business actually is and how the commodities super cycle actually works. you're looking for decades, not the next six to nine or even three or five years. however, i thought kevin plank was making a good point that there are some arguments to be made for why private is better. the stock for glencore has not been able to reach its level in 2011 since. it is something you might want to do because it has so much scrutiny and the debt has come under so much burden. scarlet: when you're in an industry where something h

stephanie: i am stephanie ruhle.joined by erik: co-anchor, back from san francisco, erik schatzker. has $11 billion of credit management. also here is david kotok from cumberland advisors, which has about 2.5 billion dollars under management. collectively, we topped eight cool 13 plus the two and half dollars i have in the bank. to the first word before we get to richard and david. vonnie quinn has that. vonnie: china is talking more to keep thetaking economic slowdown from getting worse. time, china's central bank cut interest rates. in the third quarter, the chinese economy grew at the slowest pace since 2009. at least 24 people are dead after a fiery crash between a truck and bus near bordeaux in france. new developments in the race for the white house. former rhode island governor lincoln chafee is ending his bid for the democratic nomination. the latest bloomberg politics all shows ben carson leading all republicans in iowa at 28%, 9% more then donald trump. ted cruz is third. carson and cruz will join us on "wi

scarlet: stephanie ruhle and david weston sat down with real estate investors.view of what is wrong with the global economy. >> you have this experiment around the world, which really looks like everyone knows this is toxic review should all be able to do what is happening. there is no evident repercussions, but when japan is tonting money with 250% debt udp, and they keep making more of this paper, you should not be able to do this. they're doing it all over the world. stephanie: does that mean that market volatility is here to stay? >> the u.s. is the better rock, we are the bright spot. fundamentals are pretty good for the property markets with the energy space is pretty good. business,big energy and we can still make money in the gas business. the cost of production is still low. is really good momentum, but it is slowing in the u.s. economy. is weakening.nomy there been no structural reforms. you are pushing gas into and over filled tank. stephanie: what does that mean for janet yellen? >> needs to raise rates. return the markets to normalcy where people fe

i am stephanie ruhle. david: i am david weston. have been looking forward to friday at all. haveck things off, would cofounder and co-ceo of carlyle group david rubenstein. thank you for joining us. let's go first to news from vonnie quinn. vonnie: breaking news this morning from arizona. one person is dead and three others have been wounded in a shooting at northern arizona university in five staff suspect has been arrested. no word on whether those involved are students. it is chaos for house republicans. they now have no clear leader and they have to raise the debt ceiling or risk default. the favorite to become speaker of the house pulled out yesterday minutes before a scheduled vote. i will stay on as majority leader but if we are going to unite and be strong, we need a new face to help do that. vonnie: house speaker john boehner said he would leave a fan of the month. now he says he would stay until a new speaker is chosen. the nobel peace prize has been awarded to the tunisian national dialogue quartet. the nobel committee m

the republican front-runner sat down with stephanie ruhle. >> janet yellen, for political reasons, isping the interest rate so low the next guy who takes over as president could have a real problem. keeping interest rates at this level is a political thing. when they get raised, perhaps with the next president, you could see bad things happen. >> trump says we could see a recession or worse. we are still waiting to learn if vice president joe biden will make a white house run. biden has started asking democrats about his prospects in states that hold early primaries or caucuses for the presidential nomination. advisorsden's closest is telling former staffers their services may be needed. in medical news, the world health organization says two new cases of ebola have been reported in guinea, ending two weeks with no new reports of infections across west africa. the teat of new patients have not been identified by authorities. officials say they may be unable to monitor everyone exposed to the disease. morebola virus has killed than 11,000 people in west africa. in the u.s., the justice

i'm stephanie ruhle. david: i am david westin. i notice you are in orange. what a surprise. i was hoping you would be in costume. stephanie: i would like to, but the man sitting with us today, bloomberg editor in chief matt winkler would not be willing to sit here while i am in costume. matt: no comments. david: let's start with the first word, and for that we go to vonnie quinn. vonnie: the senate worked through the night to avoid a potential debt default. the government's borrowing authority has been extended march. the bank of japan will not add stimulus for now. the bank of japan kept this monetary policy unchanged. core prices fell in september for the second straight month. in syria, opposition activists say a government rocket attack has killed more than 40 people. the rockets struck a suburb of damascus. says the talks are only to resolve the conflict. a russian official says it is up to the syrian people to decide the future of resident bashar al-assad, who is backed by russia. that is a check on the market -- now for a check on the market with matt miller. matt: tak

stephanie: i am stephanie ruhle. our authority on banking christine harper. i'm tired. did you watch the debate? david: part of it. stephanie: if i wanted to the in a disrespectful fight, i would call my sister. we are going to go to vonnie quinn. republican presidential candidates try to break out of a crowded pack in colorado. on dollars anded cents. jeb bush went after marco rubio after a four to newspaper called after noto resign showing up for a senate vote. this,n you signed up for this was a six-year term. you should be showing up to work. the senate is like a french work week you get three days where you show up or just resign and let someone else take the job. 2000 four, john kerry ran for president and missed 60%-70% of votes. in 2008, barack obama missed votes. the same newspaper endorsed him. this is a double standard between the mainstream media and the conservative media. said hisonald trump for casino bankruptcies taught him how to restructure debt. the house has passed a budget compromise that avert the debt default. borrowingxtends authority through marc

stephanie: i am stephanie ruhle. erik schatzker is in vegas. but guess who joins us now? y am here? because he is in vegas? stephanie: no, no. we want you to be here. is the: also here legendary -- of kls, jeffrey crown thought -- jeff kronthal. time you joined us we were in vegas. we were not in vegas together. david: too much information. brendan: vonnie quinn? vonnie: the house could vote as soon as tomorrow on a landmark legend -- landmark budget plan. raise the debt ceiling deadline. it would ask band standing -- spending for the next two years. john boehner will need democrats to push it through. rescuers today are trying to reach survivors from the earthquake. the death toll is more than 300 so far. rescuers fear more people are dead in regions of afghanistan and pakistan. donald trump is revealing a book he hasthe website says written more than a dozen books. the gop's will debate again tomorrow night. matt: let me tell you that we are getting the s&p case schiller numbers out for homes. we see an increase of 5.09% in the month of august. it is backward looking dat