getting ready for a race....he takes off full speed across a very busy street - and runs right into a tesla s that was going 35 miles per hour.. the teen got up and took off ...but he caused some major damage to the side of the tesla.... we'll play it one more time and slow it down just a little... now police want to find this teen because they say he broke the law... according to police anyone involved in a colission that causes damage to a vehicle... is required to stop and exchange information -- even pedestrians. (pam) a season of disastrous hurricanes has ended ... but a new report says, millions of americans are at still at risk of losing their homes to flooding. the danger is global warming. the real estate database zillow= dot= com says, entire coastal communities, from coronado to miami beach, will be wiped out if the oceans rise by six - feet. as kron4's catherine heenan shows us, the east coast is in the greatest peril. sfxmiami, new york, tampa, fort myers and boston.zillow says those five metropolitan areas have the most to lose from a six=foot seal level rise.miami will suffer t

that had a range on a single charge of four hundred to six hundred kilometers compare that with a tesla model s. which can run up apparently up to six hundred thirty two is a little bit more now it has also said that it was opening up its own production facility in shanghai just a few weeks ago so obviously what we're going to see is a very crowded market in china as automakers a jockey for position. thank you very much for that and happy birthday. things could get tense today at siemens management at the german engineering firm of cold for an emergency meeting likely to announce a mass layoffs prompted by weakness in the turbines business now gas powered turbines that is behind me belong to the oldest and most important products from siemens they generate electricity and gas fired power plants but demand has collapsed for cost orders for just one hundred new turbines next year and by the way that's globally across all manufacturers yet siemens alone has capacity to make one hundred thirty turbines clearly more than needed but let's add to that all of the other suppliers capacity as well the tu

if you are buying a tesla s, $120,000, that might not make you buy it, although i would argue that somebody20,000 car is good with their money and would take the tax break. to illustrate, georgia had a tax credit of $5,000 a few years ago, and they got rid of it in the summer of 2014, and the and the month015 than 100.y sold fewer before that they were selling 1400 a month. most popularthe e.v. on the road, the only one of lower-priced, was the nissan leaf. that kind of government incentive on a sticker price of $30,000 or $35,000 makes a big difference for a car like that. carol: up next, jeff koons expands beyond the gallery and into retail. julia: 50 companies you should be watching next year. ♪ ♪ carol: welcome back to "bloomberg businessweek." i'm carol massar. julia: and i'm julia chatterly. you can also listen to us on the radio on sirius xm and in new york, in boston, in washington, d.c., and a.m. 960 in the bay area. carol: and in london and in asia on the bloomberg radio plus app. julia: in the retail section. carol: internationally renowned artist jeff koons talks about his colla

when i join you in just minutes, you may have heard reports that almost all of tesla's model s and x vehicles come off the assembly line with a flaw that needs to be fixed before leaving the factory. tesla is responding to those claims as the company is speeding up production to meet demand for its new model three sedan. we also know stress during a pregnancy is no good for mom, but now a you in study from uc san francisco shows how a pregnant woman's stress can affect her baby even after birth. the changes in those babies compared to others, some you can see, and others you can't. these stories and more, i'll see you in just moments. >> thank you. >>>well, the warriors beat the lakers in overtime 127-123. >> pass with the shot clock at eight. >> someone's got to cut. . . >> salazar rolling again, how pretty is that. reporter: he looked good. the warriors were in control early but the lakers came back and forced this game into overtime. kevin durant and steph curry were back after missing games with injuries. steph hit a clutch shot in overtime. >> he's got another one. >> he knew it

.>>> tesla denied reports about flaws in the manufacturing process. 90% of tesla model s vehicles comeith some flaw that needs to be fixed before leaving the factory. it based the story on interviews with workers and unconfirmed internal figures. in response to the report tesla told business insider it aims for perfection with every one of its vehicles. the hump -- the sped up production to meet a huge demand.>>> dow gained 102 points to close at a new record high. nasdaq lost 87 in the s&p 500 was flat. financial stocks boosted the dow while the tech companies -- looking pricey. >>> college student learning to work with children. how family members are remembering one of the victims of the deadly warehouse fire. >>> bill martin has the weekend and his sites. a chance for some wet weather. weat >>> a man who suffers severe burns in the north bay fires has died for michael lives in santa rosa and was being treated at uc davis. after suffering burns over 80% of his body. he died on sunday. and online tributes friends said he was an engineer who recently moved to santa rosa. his death bri

. >>> new this morning, new insights about the production quality of tesla's model s and sedans and model vehicles come off the assembly line, many of them make another stop for repairs, that's according to reuters which interviewed more than a half dozen currents and former employees! the workers say that 90% of those tesla models are found to have defects during quality checks. some of them also say that they first notice the problems in 2012. tesla denies it. >>> bay area software company is laying off hundreds of workers and a major milestone for the digital currency bitcoin. joining us now with those stories and the latest numbers on the u.s. economy, kcbs radio's financial reporter jason brooks. >> reporter: good morning. tough news for auto deaths. the san rafael creative design software maker is announcing a major restructuring plan that will cost about 1200 jobs. that's 13% of auto depth's workforce. it has 9,000 worldwide employees including 2,000 in the bay area. auto desk did top 3rd quarter earnings expectations. bitcoin has been on a dizzying rise in 2017. a year ago, the cr

had a range on a single charge of four hundred to six hundred kilometers compare that with the tesla model s. which can run up apparently up to six hundred thirty two is a little bit more now it has also said that it was opening up its own production facility in shanghai just a few weeks ago so obviously what we're going to see is a very crowded market in china as automakers a jockey for position a gentle do alone bank you very much for that. things could get tense today at zimmerman's management of the german engineering firm has called for an emergency meeting likely to announce mass layoffs prompted by weaknesses in the turbines business gas power turbines belong to the oldest and most important products from siemens they generate electricity at gas fired power plants but demand has collapsed the firm forecast orders for just one hundred new turbines next year now this number here includes all farms all manufacturers worldwide yet siemens alone has the capacity to make one hundred and thirty turbines clearly more the needed add to that other suppliers all of the turbine makers put togethe

reuters reports 90% of tesla molds s and model x vehicles come off the fremont assembly line with someixed before leaving the factory. reuters said it based its stories on interviews with workers and unconfirmed internal figures. tesla said it aims for perfection with every vehicle. the company sped up production to meet demand. >>> and the former los angeles mayor will be in the south bay today. this morning he is speaking is at the silicon valley foundation about policies affecting children and young families in palo alto. this afternoon he will take part in a question and answer session with the stanford university democratic club. >>> former president bill clinton is in the bay area tomorrow. he is the featured speaker at the world aids day event in san francisco's golden gate park. organizers say the speech by the former president caps off a year of events marking more than 25 years since the memorial was created to honor those what died in the aids epidemic. the event is sold out. >>> you can make a donation to the one warm coat program. ktvu a proud sponsor of one warm coat, a c

. >> larry, tesla has the model s and the model x in the showroom but not the model three.n more than a year from when customers put down a deposit and now they've been told they have to wait even longer. >> they can buy the electric car for $35,000. they lined up last year to put down a deposit. elon musk promised 1500 model three cars would be made by now. but only 220 have been produced. >> i hesitate to buy tesla because they fired lots of people. >> reporter: tesla released the earnings report showing the company lost more money than expected. $619 million. musk explained delays in production at the facility in nevada contributed to tesla not being able to deliver more model threes. tammy has been monitoring performance. >> they've been successful in small value. they don't have the expertise yet. >> they received an e-mail informing them when they would receive the model threes. they should receive in it december. if not, customers must wait until 2018. >> i understand it is not the easiest thing to do so there's bounds to be road blocks in the way that you have to ge

as last check, tesla shares were down about 7%. kpix 5'sessica flores reports that the company's production goals for the new model 3 are also falling flat. >> reporter: diane mcdermott says she is on the waiting list for the tesla model 3. she signed up a year and a half ago. >> just got an update a couple of days ago that said, hey, we're kind of behind but still looking forward to getting you your car. >> reporter: tesla is way behind to produce 5,000 models a week by the end of 2017. they only produced 260 in the 3rd quarter. does it worry you they're not meeting their production goals? >> i don't care. >> reporter: a lot of owners here at this mountain view tesla charging station are huge fans of the company. and they're unfazed that it missed its production goals. still, investors are taking notice. >> investors are not happy at all that tesla is not meeting its model 3 production goals. elon musk does not expect the company to start producing 5,000 model 3s a week until the end of the 1st quarter. that's well off his original goal. t

x exxones model s and pays. tesladuce 10% x cars in theand fourth quarter versus the third quarter. production volume 10% less in in thef model s and x fourth quarter versus the third quarter. they are reallocating some of the workforce towards model three. what we want to know is what is causing the bottlenecks we have been hearing about and can they flush out any more information. david, you are nodding as i'm asking the question. is theyroblem tesla has are taking too long to get to be a mass carmaker at the exact time mass carmakers are getting really good at building electric cars and putting a very aggressive timetable on their own projects. today was investors very negative talking about there will be 100 companies 200 plus mile electric vehicles within five years. that is bad news for tesla and less they can become a big mass maker really fast. scarlet: i wonder if tesla has a credibility problem, whereas general motors doesn't. tesla and elon musk promises a lot of things, but does not necessarily follow thro

s. maybe if tesla has one young people will want to get into the profession.e was an article in the new york times about the difficulty finding the new generation of truckers. you are curious on how much of the battery will weigh. what about the cost of this thing and hel -- and how it will compared to existing rigs? david: it will not be cheap. you have to look at the total cost of ownership. will it be cheaper than filling up an existing rig? it might be economical, although the vehicle itself will probably cost more money. the other side is, how economists is it -- how of isnomists i -- autonomous it? maybe there are a lot of features that make it safer on the road, because when you are driving for eight hours you get tired and distracted and if it can drive itself or at least keep a driver from going into another lane, that is a good thing. shery: some analysts have said that tesla has been distracted with a truck, that they should focus on their primary objective. do you think this will be a side project that will distract from what they should be doing r

walmart, biggest retailer in the world and that is taking the dow, nasdaq, and s&p up today. > >>tesla'sinnovation, an electric semi truck is due to be unveiled today. elon musk tweeted about the announcement happening today at 8:00 p.m. via a live webcast. analysts say an electric big rig would have an effect on musk's mission which is to make the infrastructure more sustainable. tesla is not the only company getting into electric semis though. >>>our time is 6:45. a warning if you bought glass tables and desks from ikea. the consumer product safety commission says ikea's glass home, glass top desks have been shattering without warning. there have been more than a dozen complaints about this problem, but so far, there's not been a recall. ikea says they're checking this out. they say the glass is tested very well and meets the highest standards, but overtime, small cracks and fractures could affect the tempered glass. >>> time is 6:46. a new survey from netflix finds most subscribers are streaming their favorite shows outside of their home. about two-thirds of netflix customers watch pr

. >> tesla alslso unveiled a a surprise n new car, a $200,0,000 sports car. musk says s it will be thehe fat car ever that goes from zero to 200 kilometers in seconds on a single charge. all of that comes after disappointing results from tesla. anchor: thank you very much. worse, the song has been inescapable since it was released earlier this year. it was the undisputed song of the summer with lyrics so hot they made some people blush. it was a hit big-time at the latin grammys. take a look. >> ♪ >> it became the longest-running number one hit of all timee and one of the m most-watched videos on youtube. the song has almost signal head of the revived reggae is the catchy beat resonatates with people across the globe. >> people want to sing along knowthough they do knonot what they are singiging. it is really interesting the language does not matatr. the flavor, the rhythm, and the music. that is what matters. that makes me very happy. >> music video helped shine a spotlight on the neighborhood in puerto rico's capital. over the summer, it brimmed with tourists trying to

tesla truck? what is the answer?” am suddenly he gets really excited when karpany ‘s am suddenly he gets really excited when karpa ny ‘ly he gets really excited when karpany ‘s like to unveil new products. —— he gets. in the uk alone, we have 285,000 truck drivers, half of whom are over 50. the industry is saying we need more than what if a thousand truck drivers per year to stop bringing this industry to a halt. so, actually, self driving trucks might be the answer to this. elon musk is saying that he is reducing costs to companies by 25%. the price on one of these trucks is about $250,000. in the long—term, companies will be able to see savings. they really excited about this. it looks very good. if you are driving up the mi and you are passing these trucks... there is a huge infrastructure problem. one of the articles we see today about volvo unveiling self driving trucks in beijing, it is interesting that what they are focusing on is that they are working with china's city planning departments and they're talking about dedicated lanes on highways. they are talking about infrastructure. that is what we need to talk

tesla last year was the best performing stock in the s&p 500.t was up 250% in 2016 it's up 100% this year it's a $130 billion market cap that is up dramatically in two years. it did follow up that tremendous performance on a much bigger denominator this time around so to me at 17 billion, if people really buy into the story -- >> a cult of personality, when new funding is required, can emerge with sexy and exciting stories, like the truck and the super car. i like both products and i happen to be short the name. so much for that >> at least that one's rolled over if you think about this, you know what the precondition for severe weakness is it's preceding weakness. every major giveback in the stock market, in 1987, the stock market was already down 15%. tesla showing weakness now makes it more problematic. this is still pushing up aggressive new high. >> tesla has had a 35% peak to trough decline every year for the last five years. this stock has gone parabolic, up 200% in the year. this is the point of the show. we're not saying buy stock here.

s&p added four points.>>> tesla said it lost $620 million in today's quarterly earnings report.aid it needed to spend to bring the new model 3 car to market. they also face a production problem. it produced 220 model 3 in the last two months. the ceo promised 1500 cars during that time period. now customers who placed preorders for the model 3 are being told delivery has been delayed. the stock was down 3% today. another 5% in after-hours trading. stomach the cost of gasoline went up today.>>> a tax increase to pay for road repairs. the height and the gas tax at $.12 to the price of a gallon. the tax on diesel has gone up by $.20 per gallon. rices for regular unleaded have been averaging three dollars seven cents a gallon. at the chevron in san jose. it was $3.39.>> i really believe that they can come up with other ways to get the money to fix the highways and byways. there is money always allocated for these projects. many times over. >> car registration fees are going up. the tax increase is expected to raise $5 billion a year divided between state and local government.>>> tra

tesla last year was the best performing stock in the s&p 500.t was up 250% in 2016 it's up 100% this year it's a $130 billion market cap that is up dramatically in two years. it did follow up that tremendous performance on a much bigger denominator this time around so to me at 17 billion, if people really buy into the story -- >> a cult of personality, when new funding is required, emerge with sexy and exciting stories, like the truck and the super car. i like both products and i happen to be short the name. but in this case, so much for that >> at least that one's rolled over if you think about this, you know what the precondition for severe weakness is it's preceding weakness. every major giveback in the stock market, in 1987, the stock market was already down 15%. in the '73, '74 bear market meaning tesla is showing weakness now makes it more problematic. this is still pushing up aggressive new high. >> tesla has had a 35% peak to trough decline every year for the last five years. this stock has gone parabolic, up 200% in the year. it's going

particularly facebook and tesla after the close. the s&p and the dow eked out gains again. .2%.d hit down by so a mixed session to start you off in asia. haidi: a mixed session after what was a hefty session yesterday. asia-pacific a, a decade high. at 821 yearcks high. take a look at the bloomberg because we start off in asia on a summer night area weakness when it comes to the ends, off session lows. the dollars the best performer in the g10 space. turns are getting underway as we get up to the trade balance, as well as all the approval. coming up today. on the upside for the asx and theaussie dollar ahead of numbers. where also coming down to the open in japan and korea. we have an earnings driven session. when it comes to the nikkei. with .3%pullback lower. trading toave been the weakest in close to six months which could provide a boost to japanese equities. back to the top story. trump is said to of made up his mind about who will be the next chair of the fed. bloomberg's global economic list is here. in tokyo with the latest. kathl

s? ♪ julia: "what'd you miss?" elon musk wowed another audience last night, but it has not soothed some investors' worries. teslaot addressed its production problems. jamie is in detroit. great to have you with us. talk us through what we saw unveiled last night. i know there were a lot of expectations. did elon musk managed to fulfill those expectations, aside from the concerns we still have about model three? unanswered, and the questions about the truck, but it was a win for elon musk last night. he unveiled the truck on time last night, like he said he would. they brought the truck out, said it will have 500 miles of range. it will charge pretty quickly. super torque, great acceleration . they did a demo of how much faster it gets to speed than a regular diesel truck, so that was the big win, and then he had the surprise moment at the end where they pull out the tesla roadster. it was surprising, and we knew that roadster was coming back, , so it is there a hot. joe: why do people think any of these will see the light of day, or at least any time soon? what is the reason to think they could scale these up in

the tesla bonds that traded down in the 90's.that is emblematic of a fully valued market. it all tends to feed on itself and liquidity has not been great . liquidity and transactions have not been great and thanks are not holding inventories that they had previously either. scarlet: will that improve? >> is hard to say. in,d the buyers step back they have. high-yield has stabilized after pulling back a little bit. it is hard to say and we're watching it closely. if it weakens more, selling could get more selling. >> i am another charter in the terminal that many investors watch. white, we're looking at the s&p 500 and orange, the spread. we really have not seen them blown out at all. think what is happening could be a tell on this and that could be vuitton the s&p? think it could potentially be higher u.s. rates. if you take the belly of the curve, if rates go up, which they have not, that could spook high yields and get the higher spreads through that mechanism. we have not seen it yet. i do not think it works the other way but

about it, but one of the things intoink about is the flow passive products, and i think s of is funding the teslaquestion becomes what happens when there is call and liquidity in the market. we see in extending into private credit and private equities. that call on liquidity is going to be private markets, so what happens then? we need to because doesn't of the risk. >> have you seen any of that this week, evidence of almost some forced selling of things? >> that actually is what we have not been seeing. the point here is it is fundamental-driven. we will watch for these cracks to spread into a more broad-based call on liquidity. so far has not happened, but that is how these things get started. they do not start in the most obvious fashion. andcannot see a catalyst pinpoint it ahead of time. it is when you least expect it. right now, there is a lot of positive news. your point about the economy is well taken, but what about the risks in the middle east. there is a lot of risk in the market right now and we are not compensated for it. julia: that was jonathan ferro and his panel on bloomberg "rea

s diesel gate scandal every german call maker has plans for electric cars and a bit to keep up with tesla b.m.w. is already building prototypes of the electric engines of the future it's planning to produce mass of mass production of nine electric car models in the coming two years and it's building what it calls a knowledge for battery technology but for the forseeable future batteries will continue to be supplied by an external supplier. when our correspondent. was out that new b.m.w. research center in unique and i also know if the german comic who was not a little bit late to the immobility party considering tesla gigafactory. exactly you have to have it in a bottle where there's lots of sunshine lots of energy and the advantage that tesla has of course is it's a smart. small and quick company you can react quickly you can develop things you know very fast the german car industry in general is more of the the massive type you know developments take long new cars that are brought out they take years and years but companies like b.m.w. have been they've been working on electric mobility

tesla saying it would cut production of the model s and x vehicles to deploy resources towards the modelhelp with the bottlenecks in production. it's an issue that elon musk described as deep in production hell >> let's say level nine is the worst. we were at level nine. we're now at level eighth. i think we're close to exiting level eight. i thought we would probably be more in level seven by now it's obvious what we need to do. it's work to get there working seven days a week to do it we have it covered it will take us a few months longer than expected >> musk also touched on the reports of the tesla layoffs, saying the firings were based on performance reviews and only 2% of people did not make the cut shares of tesla have risen more than 50% since the start of the year stock off 6% in early trading. >> landon, thank you very much for that >>> now to sports. the astros are the new world series champions they beat the l.a. dodgers 5-1 in game seven last night houston was helped bay big home run by george springer who was named world series mvp it's the first title for the astros in fra

tesla. iain: i will take the sprint. jonathan: there we go. guys, great to have you with s.he is buying for you are everything. vishwanath tirupattur, iain stealey, lisa hornby. that does it for us here in new york. we will see you next friday at 12:30 new york time. 5:30 p.m. in london. this was "bloomberg real yield." this is bloomberg tv. ♪ david: is a big burden off your shoulders now? you have succeeded a legendary business figure. jeffrey: if i was going to give advice, it would be -- david: the financial crisis of 2008. jeffrey: i kind of want to say, i want my mommy. david: if a president were to say come in as a cabinet officer, what would you say? jeffrey: i'm not sure business people make great public servants. [laughter] >> would you fix your tie, please? david: well, people wouldn't recognize me if my tie was fixed, but ok. just leave it this way.

more than half of the s&p 500 companies reported profit growth is better than 7%. to tesla.el 3 delays may land the company in court. ramping up production will be difficult and prompted a shareholder lawsuit alleging they hid the problems from investors. six other law firms are planning class action lawsuits. tesla built 260 cars, not the planned 1500. a handful of assembly lines took longer to activate. tech's top five now worth more than $3 trillion. we are talking shares from facebook, amazon, microsoft, alphabet, a parent of google. look how they skyrocketed. up more than 30%. they are trading at or near record highs. the stocks are surging aztstech executives face questioning on c capitol hill. wall street brushed aside the concerns of russia, but focused on the money they are making and growth potential. they are making a lot of money. >> more than 50% for facebook this year. early start continues right now. >>> important additional measures taken for people's safety. the bottom line is, we are going to go about our business in the city. we are not going to be deterre

competitors does tesla take buyers away from porsche or have you lost buyers to tesla as people say i want to go with a model s or a particular porsche model >> we have lots of respect for tesla, and i'm sure, some porsche customers that in terms of connectivity, digital stuff in the car and electric, battery electric vehicles didn't find a car they wanted with porsche so they bought somewhere else now the good news is -- >> you've got mission e. >> something that we might be able to attract them back. >> mission e, comes out in 2019. can't give us details, but you've seen it in development, is it everything you thought it would be so far? as you're building it? >> no, obviously, don't expect me to be completely objective, but i've seen the car, i've driven the car, the car is, as we speak, being driven around in hot and cold countries it exceeds my expectations and especially when you actually drive the car to the limit and beyond so actually our core competence are now combined with battery electric vehicle technology will produce something that i'm really excited about >> the man who runs porsche north amer

tesla, the company talking up its new all electric semi truck. this thing won't roll off the assembly line for at least a couple years, but kpix5's da lynn says bay area truckers are already very -- da lin says bay area truckers are already very interested. >> reporter: tesla hopes to reform the trucking business with a powerful all electric semi. ceo elon musk says it go go from 0 to 60 miles per hour in five -- go from 0 to 60 miles per hour in five seconds, three times faster than a diesel truck. >> this is realtime what it's like to be in a tesla truck. >> reporter: he said it has a range of 500 miles and mega chargers will be available to recharge trucks to a 400-mile range in 30 minutes. >> these mega charges, your truck is running on sunlight. >> reporter: truck drivers at the port of oakland are impressed. >> fancy. they look european. >> reporter: on any given weekday there are dozens of big rigs waiting to drop off containers. drivers say running on electricity means less pollution. >> less maintenance, that's all good as long as it can haul the weight. >> reporter: the tesla semi will be equipped with auto pilot and other self-drive an

s&p 500 companies reported. profit growth is up 7%, analysts expected 5%. tesla delays may land the company in court.tion may be difficult. it prompted a lawsuit that they hid the company's problems from investors. others are planning class action lawsuits. tesla built 260 model 3 cars in the third quarter, not the planned 1500. a handful of assembly lines have taken longer to activate than expected. >>> tech's top five worth $3 trillion. shares for facebook, amazon, apple, microsoft and alphabet, the parent company of google skyrocketed up more than 30%. all five trading at or near all-time highs. the stocks are surging aztec executives face tough questions on capitol hill about russian meddling, using their platforms. wall street largely brushed aside those concerns about russia, focusing, instead on the huge profits and growth potential for all of them. those tech stocks have done so well. stock market overall, has done well over the past year. the tech stocks this year. >> amazon ceo is the richest man in the world. $90 billion. >> thanks for joining us. i'm christine romans. >> "new day" starts

tesla has said it has ample money to meet its target of producing 5000 model 3's by the end of march.g up, the doj is hitting at&t hard. details on the losses that could block at&t's $85 billion takeover. ♪ ♪ emily: big news for tencent, the tech giant has become the first chinese government to revalue net more than 500 billion dollars. this just three months after it top $400 billion for the first time ever. it joins apple, alphabet, amazon, microsoft, and facebook is the only companies valued at more than $500 billion. we got exclusive access to its workshop and drone testing grounds. tom mackenzie reports. tom: the drudgery of your daily commute could be near an end if these taxi drone makers get their way. >> we have the permits and our taxi drones will be seen flying in dubai and other places public ly. tom: where do you see the biggest opportunities publicly? >> definitely commercial use and human carrying drones. we're only at the beginning stages of large-scale usage of drones. the passenger drones had just come to the attention of the public and our company has just shifted o

--s stuff is far enough out and, look, elon musk has a reputation for multitasking that tesla can tellself probably without lying to itself too much that it can focus on getting the cars out the door while it works on the development of these new products, so one thing that i think is important to tesla and to elon musk is always having something that is three or four years out to key people excited, keep evil focusing on the future -- keep people excited and focusing on the future. emily: do you think customers will stop buying into these the ff sales pitches yet >> this is probably the more important part of the story last night, speaking to investors. they do have untapped opportunities, and this is not about electric vehicles but .bout autonomy these huge macro themes. if he can keep investors buying keep tapping the equity and debt markets for more cash, that companyn point for the -- this is really keeping investors in the camp, in the group, in the club to continue support, accelerating adoption of renewal energy. musk himself has admitted .hey are in production hell how concern

the s&p 500, we are tesla with futures on the dow. not even 1/10 1%.curve, and you see the 10 year yield coming in by a single basis point. cable, a little softer. the pound against the dollar weaker. the brexit strategy of prime minister may may well be unraveling to from nairobi to london, there is speculation she might be getting -- 22,000 users attracting that flight from nairobi to london. what are you doing with your time? go to work? jonathan: the pound at 131. some headlines, here is taylor riggs. taylor: donald trump is in china. he was with president gigi ping. from north korea to the u.s. massive trade deficit to china. haveand chinese companies signed business deals. the two sides are worth $9 billion. democrats got election results to cheer about in the u.s. democrat has been elected governor. he beat a republican in what was seen as a test of whether democrats could win an open -- win in a swing state. murphy was elected governor of new jersey and the mayor of new york was easily reelected. saudi arabia is trying use global investor conce

tesla has said it has ample money to meet its target of producing 5000 model 3's by the end of march.g up, the doj is hitting at&t hard. details on the lawsuit that could block at&t's $85 billion takeover of time warner. this is bloomberg. ♪ ♪ emily: big news for tencent, the tech giant has become the first chinese company to be valued at more than $500 billion. this just three months after it topped $400 billion for the first time ever. it joins apple, alphabet, amazon, microsoft, and facebook as the only companies valued at more than $500 billion. the chinese startup is looking to fly passenger taxi drones. we got exclusive access to its workshop and drone testing ground. bloomberg news' tom mackenzie reports. tom: the drudgery of your daily commute could be a thing of the past if these taxi drone makers get their way. the chinese startup plans to build a network of passenger drones across the world. the company founders says that vision will soon be a reality. >> we are waiting for our trial flight permits. when we have the permits, our taxi drones will be seen flying in dubai and

s&p 500. we are looking at tesla, facebook and semantic -- symantic. tesla down sharply, down 5% on the model three update. elon musk says they will be making 5000 cars per week in march. that is pushing that out three months, causing questions from investors. plunging 9.5%. they cut the full-year view. they need to move more toward the cloud. here's one winner, alibaba up 1.7%. -- thes beat by 6% chinese consumer is very strong. let's see how alibaba is performing relative to the u.s. internet companies. on the bottom, we have all the saying stocks, up between 25% and 50%. alibaba up there in white, up more than 100%, tencent right behind it. alibaba double on the year. mark: we are down for the first day in six after the best run in the highest close since august of 2015 yesterday. it's all about the bank of england today. sterling down 1.2%. the boe raised rates for the first time in a decade. the cheap macro strategist at black rock calls it a classic dovish hike. future rate increases will be gradual. the be a wee dropping the line that rates may

tesla has said it's car production is behind schedule again. the company has been struggling to incease the number of model 3's that are rolling off the productionke 5,000 a week by early next year off. the vehicle is key to its ambition because it is more afforable than others atjust $35,000. tesla also announced it's biggest ever quarterly loss of more than $600m. the anglo—dutch oil giant shell has announced a big rise in profits for the three months to september. it made just over $4bn and was well ahead of expectations. it reflects growing optomism in the oil business as well as the impact of cost cutting measures. the chief executive said it was evidence their turnaround strategy was working. a new study claims women around the globe may have to wait more than a century to achieve equality in the workplace. according to the poll by the world economic forum, the global gender gap has widened in the past decade and will take 100 years to close. the research ranked 144 countries on the gap between women and men based on economic, health, education and political indicators. if you watch the show regularly, it's a big day for you today... there

s&p fell over 1%. >>> uber says it discussed the hack with softbank. softbank would share it. "the wall street journal" reports uber ceo learned of the breach two months ago. >>> teslamusk won a $50 million bet.% if he missed the deadline musk promised to do it for free. the tesla power pack will be able to supply power to 30,000 homes during a blackout. >>> and the new move "coco" is expected to take the top spot at the box office this weekend. >> i'm sorry. what's going on. >> reporter: the disney pixar movie hits theaters on wednesday. it is about a boy who somehow ends up in the land of the dead. "coco" is expected to bring in 51 million dlfrmts "justice league" is set to bring in an additional $47 million, and "wonder" is expected to bring in >>> diane hall at the new york stock exchange. thank you, diane. >> thank you. >>> why won woman said taking pictures of herself helped her lose 80 pounds. i've tried lots of things for my joint pain. now? watch me. ♪ think i'd give up showing these guys how it's done? please. real people with active psoriatic arthritis are changing the way they fight it... they're moving forward with cosentyx®. it's a different kind of ta

s&p, stay in that trade. >>> coming up, homebuilding stocks are surging this year but something the chart master sees could have you pushing the sell button plus tesla unveiling two new vehicles was the whole presentation a bait and switch? we'll explain. >>> and later, fox is wall street's eligible watch lore right now. who will win the heart of the media giant? much more "fast money" after this stay with me, mr. parker. when a critical patient is far from the hospital, the hospital must come to the patient. stay with me, mr. parker. the at&t network is helping first responders connect with medical teams in near real time... stay with me, mr. parker. ...saving time when it matters most. stay with me, mrs. parker. that's the power of and. >>> welcome back to "fast money. tesla unveiling its highly anticipated semi truck last night. but could it be a smoke and mirrors act to cover production issues phil lebeau has more from redondo beach. >> reporter: melissa, tesla shareholders got a bit of validation when walmart and j.b. hunt said we'll order at least a few of these tesla semis and see if it works out with what we do when it comes to shipping good

if you have ever fired up an autopilot on a tesla, it is because of research that geoffrey hinton did starting in the 1980's anthony tan, also in southeast asia. when we started doing the reporting of this, his company grab was in 87 cities. and by the time we went to press, it was in more than 140. paul: you have done some great work putting this list together, but who can we look out for in 2018? >> james jeff yeah. he founded supreme in the u.s. and around the world. streak label. hot the carlyle group took a 50% stake in this which allowed them to expand more internationally. keep an eye on him. and i think other people you want to keep an eye on our in the sector of millennial's and online shopping. you have people that are doing -- for millennial's and across the board in car and self driving cars. there are so many people getting into this business. thank you's much for joining us. don't forget to check out bloomberg businessweek's specialty dish and, the bloomberg 50. the people that defined global business in 2017. up next, do tech stocks recover? -- we will speak to michael about his outlook for n

s&p gained 21. walmart also posted a big gain in its quarterly results boosting the market. >>> tesla is set to unveilts latest vehicle in less than 90 minutes. ceo elon musk will show off the company's new electric semi truck expected to have self-driving capability and be ready for sale by 2019. the event will begin at 8:00 tonight in hawthorne, california, and will be streaming online. >>> rain in the bay area means snow in the sierra. >> kids were out of school and thought we would come up and enjoy the snowfall. >> a look at the conditions ascii resorts get ready to open. >> it's snowing up there right now. the snow levels will drop as it cools off tonight not just for the mountains but around here. overnight lows looking chilly. valley fog a possibility. and more rain shows up in that five-day forecast. we'll show it to you after the break. >>> a winters storm in the sierra ahead -- a winter storm in the sierra ahead of a foot of snow tomorrow. at lower elevation there was rain. people were holding for cold and more snow. >>> reporter: as the latest system moves through the sierra bringing with

tesla. >> i'm suggesting investor sentiment has become more immune and one of the reasons why is because today's s&p 500 is a global affair. 70% of revenue and 68% of earnings coming from overseas. most of the growth, i might point out as well, and that's affecting the way people think about corporate security stocks and bonds relative to political volatility. >> to mike's point -- >> that's really a key reason why stocks have risen above all the stuff that's gone on and they might not have in a previous generation. >> mike santoli's points, great points, my, one of them is the etfs which were right at the beginning of 2000, judge, under 100 etfs, and now as i've said over 1,700 etfs, and you look at the dollar value traded in these instruments. that's another reason we've seen both the market rally and volatility compressed. >> mike santoli, give the last word to you on this topic. >> yeah, i mean, just to take off on what josh is saying this year looks in its character, in its path, most like years like 2013, 1995, gridlock years in washington the market saying, great, we have policy stasis, and