the largest penalty yet on corporate tax avoidance. apple and ireland are vowing to fight the ruling. we will get the response from and why he said the commission left him with no choice but to appeal the decision. and in an interview with sally she says incoming economic data will determine the path of interest rate increases. we will get fishers take on when the fed might move. mark: 30 minutes away from the tuesday close. column.your equity more than upsetting the declines from yesterday, which did not include the u.k. that was enclosed for holiday. ending the month higher. still a day of trade to go. we have not had two months of gains since may. looking at the individual movers. deutsche bastad, unlikely to increase the stake. boerse.che the indian cap that change the law to allow foreign companies to own as much as 15% of equity exchanges. shares are up by a quarter today. combining the asset management business pioneer with a taste of your verizon. options forering the future pioneer, including an ipo as part of the wider capital plan

mark: for future apple watch buyers, it is a make it or break get the people want to apple watch, leaveotentially. that is apple's eventual goal, to make the apple watch a completely independent product. apple wants this watch to be able to be on that same playing field, eventually. check out mark's great story on the bloomberg. let's look at the great charts we have on the bloomberg. speaking about treasuries and yields and bonds in our next segment, so i thought we would look at the butterfly spread. we had a note out today from morgan stanley, which has called the treasury market pretty well this year, pointing out that now might be a good time to buy securities. the spread at the cheapest in the month. -- in a month. that may not stay the case. lisa: you have a lot of people doing a par beltre, going into the long end, going to the short end, trying to -- it makes a lot of sense. i wanted to also show a chart as well about how the earnings to show how bonds have been benefiting so much more than any other asset class, this highlights however single part of the curve is being exploit

is that the sense you get? if so, why? >> apples a figure head for the eu to go after at this point. i don't think it's really spread or, i guess they're waiting to see apple is clearly the most valuable company in the world. they're probably the easiest target as far as tech companies that practice doing this sort of tax loophole structures in ireland so it's pretty easy to go after them. i still think they're going to do more postjurorsing despite the fact that they consistently go after u.s. businesses themselves for this hype of behavior. and going to watch and wait because apple seems to be the real strong and easy target here considering it's size and value. and apple is a big company. they can handle different things at once. is there a risk that apple gets focused not just on this case but they have a lot of financial complexity and they have been all about financial engineering on one level. is there any long-term risk there? >> i don't think so. this is a multinational corporation. everyone is working in a global siermt s

it's not going to break the bank for apple. this is much more significant that's going to move the share price in the short-term for apple. i do think it's significant if terms of symbolism and not only for apple, but also for ireland. this is embarrassing for them. >> they've been courting this companies for years. >> they thought they tidied up their own domestic tax already. this ruling says it's not. it's embarrassing for them. hurts their aid and abbility to businesses. and after brexit, this will annoy people being told what to do in terms of their tax systems. they thought they had already sorted out. >> brussels telling national government. the whole issue. live in brussels this morning. we'll go to her in just a few minutes where the decision will be handed down. as wilfred mentioned in less than an hour. >> more news from the apple front. mark your calendar. major product event on september the 7th. unlike prior invitations. no clues to what the company is cooking up. the tech giant will use the event to unveil the new

we're at the apple federal credit union. temperature right now around a fabulously comfortable 68 degrees. what a picture perfect morning. we have a lot of people swinging on by on the way to work to get monetary donations. we're having a blast this morning. we're on facebook live. for ways to donate, check out my twitter and facebook pages, as well as erikas. we'll be here until noon today at the apple federal credit union. we're taking donations. new backpacks and school supplies. you can swing on by with the monetary donation. you can donate via text. to learn how to do that, you can see the information on your screen. also all of looking like a great day today. high temperatures as chuck said in the low to mid-830s. soak it up. we're all thinking about friday when it will feel very much like summer again. melissa, what are you in the mood for? today's weather for 100 on friday? >> today's weather. i like it much, much better than that. 100 is never my friend. inner loop here, before river road. you can see we are just a l

let me read from a statement apple put out, the european commission launched an effort to rewrite apple's, ignore the irish tax laws and ignore the tax process. i'll skip down. the commission's move is unprecedented and has serious wide-reaching implications, effectively proposing to replace irish tax laws with a law of what the commission thinks the laws should have been. apple goes on to say, it would create up certainty and part of what i asked on the call was what is apple looking for, as far as redress, as far as -- what options does apple have, not just legal, but in the way it's communicating and the executives said pretty clearly we're looking for all of europe to take notice here because this is a sovereignty issue, and it's a certainty issue and going to have a lot to do with how we invest. apple saying they're the largest taxpayer in the u.s. and in the world and given the fact apple is by many measures the biggest company in the world and certainly profits are huge that perhaps isn't a surprise. here's part of what the issue is, as i've looked at it, a lot of people looking at

the rotten apple. new york institutes a tax penalty on the company. >> apple has to repay the benefits worth up to 13 billion euros plus interest. >> it goes beyond just apple. it can have an impact on the transatlantic trade deal. it is already in jeopardy. negotiations between the eu and u.s. have stalled and he says the deal is unlikely to come to fruition. and an unlikely day of rescues. the italian coast guard says 6000 migrants were picked up inside the mediterranean. many more are expected to attempt the journey this week because of favorable weather conditions. ♪ >> i'm brent goff, it is good to have you with us. 13 billion euros and don't forget the interests. status is much the european commission demands apple payback in back taxes. apple says it will appeal that decision and ireland says it does not want money back. >> ireland posh tax rate has attracted scores of multinationals to the country. it has now been tololto pay ireland d back up to 13 billion euros, a record some. the irish govern

the apple watch 2. it would include the same features as the other watch, and also include gps for better location tracking, a larger battery and a barometer. barometers are used to determine air pressure. this would help the apple watch track vertical movement like when you're climbing stairs. the analyst does not expect apple to add lte wireless until next year, 2017. that would mean these new apple watches would still need to rely on wifi or a connection to an iphone for cuts once the two new watch models are introduced. ming-chi kuo has a decent track record on apple reports. he accurately predicted the 4-inch iphone se. back in june apple demoed a new watch-os for apple watch that essentially redefines how users interact with apple watches. the report did not mention whether the new watches will have any special features to take advantage of the new watchos. i'm michelle mortensen. ((weather toss)) place today and tomorrow for smoke and ozone from the fires in southern california. right now air qual

the rules. and not to rely on fair tax benefits. >> apple pay. the european commission hits the tech giant with a $14.5 billion bill for unpaid taxes. reaction fro and what does it m .or other >>> hamburger sales are slowing and that's causing problems for companies. so, is the burger bubble bursting? and rocky mountain high. why colorado is fast becoming a "b for the latest space race. good evening and welcome. i'm sue herera. tyler mathisen is off this evening. the european union's antitrust regulator slapped apple with a huge bill today. its reason, eyreland granted the tack company unfair tax breaks for more than a decade and the back taxes come out to a whopping $14.5 billion an apple isn't happy saying quote, the apple's commi history in europe. the sper national tax system in the process. the case is not about how much apple pay is in taxes, it's about which government collects the money. it will have a profound and harmful effect on investment and job creation in europe. apple follows the law and pays all of the taxes we owe where ever we

>> no, i don't worry about missing the train on apple. is thing will trade between $93 and $109 forever unless the issues are resolved. and you know, i like at this and ask myself, the only thing that matters to me to get excited about the service again is are service going to get past 10% revenue. the large margin service businesses have alluded apple because they are offering music and photography and television. while they are useful, they are certainly not state-of-the-art. there are better players. i use spotify, not apple music, but who cares. at the end of the day, quarter by quarter if you could show me the services growing and frankly if i have to bet on an iphone margin to stay where it is today over the next 36 months, i'm going to bet against that. i think iphones are toasters. i think it is a total kmomid. tony made a good point, innovation will get less and less in each incremental view so the only thing that gets me excited about piling into the stock now is not that i will miss a big move any time soon, that in the next two

he's referring to the apple watch and he says we're still pulling that string. e got the base technology. pulling that string is a phrase he used to talk about apple tv. i wonder if he's setting us up to see the iphone as a world apart. smartphones as being a once in a generation, maybe once in a lifetime type product that each person is going to have one but the watch is not going to explode the way the iphone did. it's a spul of the string. we'll still be talking about it that way four or five years from now the way we still are about apple tv. >> i'll put it this way. that would be great news if we're still talking about it because it will mean that somebody has bought it. from the beginning you may recall that i viewed the apple watch as really being part of their services environment and a driver of things like apple pay, their palt system and i do think the apple watch's best days are still in front of it but there's no way for a product of that type at that price point to put a dent in apple's income statement any more than it's possible for apple tv to do

with not the first case apple. the decision of the commission to stay if it is possible to have a fair game among the different multinationals from everywhere. now is a chance to apply the decision by the european commission and ireland. all for justice. belgium haveight, prime minister, thank you. mark: we have much more ahead on the eu decision on apple. for the response, ireland's finance minister, michael noonan 11:15 eastern time. what an afternoon, morning we have for you on bloomberg. ♪ vonnie:vonnie: you are watching bloomberg. i am vonnie quinn. what we are watching. apple is being hit with a massive tax ill. charging more than $14 billion because of the illegal cap and if it. -- tax benefits. volkswagen lays out the timeframe to reform the company after the gas investigation. the government fears the reconstruction. we look at what is being done to minimize damage. they european commission has ordered apple to pay more than 14 billion dollars, plus interest and a long-running tax case. the largest tax pena

this is our display on the apple tree. what is the apple tree? well, it's one of those myths about appomattox, about lee's surrender. why is it a myth? because the event that supposedly took place there wasn't what it seemed. lee and grant had been corresponding for several days, since april 7, about the possibility of lee surrendering his army. and on the morning of april 9, when lee is finally ready to surrender his army, he sends a message to general grant. but general grant is moving his headquarters. he's on about a 20-mile ride, so lee's message catch us with him say maybe about 11:00 that morning, and he has to dispatch men to ride ahead to make the arrangements to meet with general lee. he dispatches lieutenant colonel orville babcock and william mckee dunn to ride ahead hand meet lee. they find lee resting under an apple tree at the appomattox river. the confederate forces under general gordon, mahone and e.p. alexander's artillery are on the hills behind this apple tree, and they see this federal officer talking with general lee under i

the ipad and the iphone are apple's probably most successful products. both generated in the united states. so the activity which gave rise to the profit was based in the united states. now, if that's tax -- vonnie: funded by -- >> not a matter for the irish authorities. vonnie: half that r&d money came directly through the headquarters in ireland, if we can show this graphic. you see that all profits from european sales were recorded in ireland and half of those left ireland and went to california and places for research and development. >> yes, but we don't manage how apple organize their affairs. we tax on the economic activity that multinational companies carry out in ireland. if there are arrangements made beyond irish law and beyond the confidence of the irish tax authorities, and if an argument is being made that internationally apple doesn't play enough corporation tax, well, then it's a matter for other jurisdictions. and the commission ner her press statement today as acknowledged that because she said that some of the tax that she's attributing

stay with bloomberg for more on the apple story. pean competition commissioner is scheduled to hold a news conference in brussels at 11 a.m. u.k. time. we'll bring you that here on bloomberg. the death of democracy. brazil's suspended president makes an impassioned plea to the country's lawmakers people talk brazil, e.m. and political risk. this is bloomberg. ♪ francine: in a session that lasted 14 hours, brazil's suspended resident -- suspended president making a personal appeal to lawmakers. she said a removal what amount to a political -- death.e i came close to once when i was tortured, suffering aggressions that made me doubt humanity. when a serious and painful illness almost made my life shorter. today i am afraid about the death of democracy. francine: let's get more with justin carrigan. thank you so much for joining us . is this the end of the road for her? justin: pretty much it would you heard yesterday in the small clip. she has focused her defense on personal elements. the take away from this is she did not really deduc

the second model would be called the apple watch 2. it would include the same features as the other watch, and also include gps for better location tracking, a larger battery and a barometer. barometers are used to determine air pressure. this would help the apple watch track vertical movement like when you're climbing stairs. the analyst does not expect apple to add lte wireless until next year, 2017. that would mean these new apple watches would still iphone for data. also he says he expects price cuts once the two new watch models are introduced. ming-chi kuo has a decent track record on apple reports. he accurately predicted the 4-inch iphone se. back in june apple demoed a new watch-os for apple watch that essentially redefines how users interact with apple watches. the report did not mention whether the new watches will have any special features to take advantage of the new watchos. mortensen. ((kirsten joyce)) >> if you have a consumer problem you'd like michelle to look into.. call the 8 on your side hotline at (702) 650-1907.//

oil and chin higher as the dollar came off the highs. applee to pay out the big story as well. you are watching "fbn:am," your first look at morning markets and breaking news. ♪ whether it's connecting one of the world's most innovative campuses. or bringing wifi to 65,000 fans. businesses count on communication, and communication counts on centurylink. there's no one adut there. no one surface... no one speed... no one way of driving on each and every road. but there is one car that can conquer them all. the mercedes-benz c-class. five driving modes let you customize the steering, shift points, and suspension to fit the mood you're in... and the road you're on. the 2016 c-class. lease the c300 for $369 a month at your local mercedes-benz dealer. nicole: good morning. 5:45 a.m. in new york at that scale caught up on what's happening now. voters casting ballots in senate and congressional primaries in arizona and florida today. gop senator john mccain and democratic congresswoman debbie wasserman schultz among those fighting to keep their jobs.

the drought is not going away anytime soon. coming up, what you can expect to find on apple trees at orchards across the region this fall. >> we've got yet another dry and arm day ahead but i am tracking our next chance of some rain. >>> apple farmers are taking certain steps to make sure the crop gets much-needed water. i visited the big apple farm in rentham to get a look at what you can expect to find on the trees this fall. >> reporter: at the rolling orchard of rentham's big apple farm, peak season is just weeks away and apple farmer jon moore sums up this apple season like this. >> a lack of water. >> reporter: the dry summer leaves his apple trees soaking up the sun and very little water. >> we just keep and i have a crop so far. >> reporter: some are sizing up better than others. >> this is 3 and a quarter maybe. >> are these small? >> these are small. yeah, maybe that there is probably a 2-inch apple, maybe 1 1/2. >> if it was a normal weir, wet year, the apple would be twice the size right now. >> three responds two wells on the property have been put to good use this year. they're irrigating the crops to expense. >> we

there are reports already that the uk government is saying to apple here, you know what? russels doesn't want you, you're welcome to come to the uk. so there to be some benefits to brexit here. >> julia, thank you. >>> we're joined from pal eight by elevation partners cofounder roger mcnammy, and tony sacconaghi. roger, we ask your opinion on apple quite often. does this look like a simple revenue share, or does apple have a target on its back in europe? >> i think what we're looking at is potentially a major, major shift in how governments in view the ability to grow their economies. for 35 years we've had an environment where there's been a genuine effort to grow the pie using tax incentives to lure companies, lure jobs, get lots of growth. that's been generally accepted around the world. to me this is like brexit in the sense that what the european competition committee is doing is not arguing over how to expand the pie, but rather saying the pie is really big, and you should be taking a larger share of it. you know, this is a political problem. it's not going to resolv

the latest from here. back to you guys. >> thank you, susan. coming up, apples getting deeper into the content game launching a new show about the app store hosted by gwyneth paltrow and speaking out they're out with a new interview with ceo tim cook and other executives. we'll talk to the man that wrote it. donald trump said to give a major speech on his economic plan at the top of the hour. squawk alley is back in a moment. [announcer] is it a force of nature? or a sales event? the summer of audi sales event is here. get up to a $5,000 bonus on select audi models. >>> apple is getting into the reality tv business. tech investor and musician entrepreneur wil i am for a new series called planet of the apps. former nbc executive ben silverman now co-ceo. ben, thanks for being with us. >> thank you. >> tell me about the concept here. it sounds a little strange off the bat. is this like the voice but for apps? is that relatable enough that they enjoy apps so much they want to see how the sausage is made? >> obviously i'll be having them further elevate but i hope

sirius xm versus the high 30s for apple. but sirius loses on the back end. one big reason for that differential, sirius has a ton of debt on the balance sheet. high-cost debt, but apple can easily pay down all that high-interest rate making the satellite business a lot more profitable. it's substantially more expensive than the average name in the s&p. not to mention way more expensive than apple itself which trades at 12 times next year's earnings. investors recognize it has this fantastic, steady-growing business. its subscription-based model makes it easy to figure out how much money they're going to make down the road. but the real draw lies outside the financials. remember i said they should buy pandora and spotify? at the right price, buying either of those would let apple own the streaming music business, which leads me to the third and best reason that apple should snap up sirius tomorrow or monday. it would give them a leg up when it comes to owning the car business. it's pre-installed in nearly 75% of new cars these

from the rumored introduction of the second apple watch. how apple is reportedly.... trying to disconnect the watch from the eye-phone... and... why they're facing hurdles... in doing it. and remember -- chopper 13 brings you breaking news fast -- and first -- and only on 13 action news. the nasdaq -- down 2 and the sp500 -- down 3 and in gaming-- boyd -- finishes up slightly 0.56% but caesars -- down 0.39% mgm --down 0.82% down 2.31% red rock resesorts -- down 0.48% morgan stanley -- gets hit with a class-action lawsuit today. the lawsuit -- filed on behalf of 60-thousand workers. it claims -- the company's 401-k plan was mismanaged -- and charged excessive fees. with more than eight-billion dollars in assets -- it's one of the largest 401-k plans in the country. but employees say -- the company used the plan -- as an opportunity to promote its own employees. morgan stanley -- declined to comment. apple is reportedly facing major hurdles -- in its bid to disconnect the apple watch from the i- phone. bloomberg news reports -- the company is having problems -- creating

company has grown to the world's most voluble. apple announced the sale of its one billion iphone. but tim cook's legacy is far from assured, but there is signs of a slowdown at apple. rising up to 125 -- $125,000, but the gains are tapering off. revenue slowed after third teen years of consecutive growth because the company depends heavily on iphone sales. but the smartphone market is becoming increasingly saturated with products like apple watch and apple pay service unable to compensate for the slowdown. he has yet to prove he has the spirit that made apple and i can't. if you can achieve his goal to pave the way for textbased health services, he would leave his mark on the come me. >> what check on the performance of tim cook entered wall street. what kind of report card are investors getting tim cook? >> he is not as visionary as steve jobs but it might not be that bad. wall street pretty much like what they saw in the past five years. if you saw a personality like steve jobs step down, that did not happen in that regard and some a

we were bringing you the latest on apple. s saying that the iris deal between apple and the irish authorities slashed their taxes. apple may now have to repay up to 13 billion euros in tax plus .nterest according to the eu we are expecting a press conference from the commissioner best figure in charge of this -- commissioner in charge of this. the decision could cost the iphone maker billions of euros. it is significant because it makes their concern about hundreds of other companies. if you think about it from an eagle eye point of view, this could be significant for apple and ireland, because they lose that source of revenue and politically that pits the u.s. against the eu because they say do not touch our companies, and pits ireland against brussel. tom: isn't this why brexit the anglo-saxon axes are going to europe and saying, we are not going to do this and europe says, apple, you are bad. francine: from a simplistic point of view you could argue that is why brexit happened but the eu has been trying to break up mergers

evidencewe have more about apple will stop the biggest drag on stocks is apple. european commission has amended the island recoup some of the taxes. >> now ireland saying it does not want that. we will hear from both sides, from eu regulator and the finance minister this hour. >> more evidence the fed will continue its decision on interest rates. sally fisher -- stanley fischer stuck with tom keene on "bloomberg surveillance." hey talked about potential changes and whether there is policy unity within the fed. >> we are growing at around 2% and the problem we face is that of productivity. i do not think the dollar is fundamentally the most important factor affecting the rate of growth in productivity. obviously, a stronger dollar has an impact on the profitability of american companies and on how much we want to import. but the bottom line on this is we have seen an appreciation of the dollar and the american economy continues at full employment. or moveowards -- towards full employment. in a fundamental sense, we have withstood much of the challenge. it has an im

the high-tech crowd. we're also hearing faster macbook airs. also, applecollaborating with lg electronics out of south korea on a new monitor. this monitor would be 5k, seven times the resolution in the same amount of space as your typical 1080p television. so, those are going to be big updates on the mac side. emily: what does this mean for the bottom line? ipad sales have not been growing updates on the mac side. the way they were. macbook sales have been healthier than many expected. what do you see? >> i think just don't overthink it. the bottom line is going to improve nicely. we talk about a 15% revenue boost from next to next year, and earnings should outpace that slightly. at the end of the day, this is still all about the iphone and these other products are collectively 35% of the business. it's about the iphone, the iphone should have a good cycle, and if we were wrong and we blow it on this one, we should catch the way they were. up and have an even better cycle in 2017 with the anniversary edition. emily: any possible surprises? what could that

those of you who had hoped the apple watch would be a big thing . was not we know that they were potentially working on new versions of the watch, allowing you to effectively walk around with the watch and not relying on your phone. scarlet: so you would not have to carry it with the phone. erik: this is why we are paying attention to the stock. inle has hit some roadblocks its effort to make these major changes to the watch. as a result, will not be able to outg a wireless apple watch as it had hoped in the current refresh cycle, which we expect in the next eight weeks or so. scarlet: the company plans to announce new models of the apple watch this fall which will include improvements, it just independente this operability. wanted to put cellular capability in the watch so you did not need your phone in your back pocket or briefcase. that will be a game changer when it happens. theoretically, drive a lot of people to buy the watch , because they could be owners of an android phone and have the apple watch, if they chose. scarlet: apple warranty, eve

the party's presidential nominee is doctor jill stein. apple's ceo will soon be signing a very big check. why the company will have to shell out more than 14- million dollars to ireland. plus - did this man bury a body in his backyard? the latest on a strange murder case - in northwest arizona. and neighbors in one part of the valley are not happy about blasting nearby. what they say it's you're watching fox5 news at 5. local. las vegas . i'm hillary clinton and i approve this message. there's a race going on right now. the world's clean energy super power's either going to be germany, china, or us. and i'm going to make sure it's us. from 500 million solar panels installed by the end of my first term, to precision manufacturing. that's my plan. decision against apple overseas. the european union finding the u-s company received illegal tax benefits. now - apple is on the hook for more than fourteen billion dollars. benjamin hall is in london to explain. union... thinking differently about apple's taxes. the company ordered to pay up to 14-point-

vonnie: and we are pulling back the curtain on the next iphone. apple is gearing up to release the next iteration as early as next month. it includes more advanced capabilities and upgraded hardware, but is it too similar to the last design to get the consumer excited? we are about 30 minutes into the trading day in the u.s. now. let's head to the markets desk were julie hyman has the latest. julie: i want to start with oil prices that as having a rebound effect in equity markets as well. oil almost at $43 a barrel. we had some commentary out from the opec president in a statement on that organization's website, saying that the country's are in constant deliberations on stabilizing the market. they're going to hold informal talks in algiers next month. a couple delegates familiar with the plans here say there are no plans to run new the failed push for production freeze. nonetheless we are seeing this bounds in oil prices today. this is a missed what has been a very negative environment for oil. we had entered a bear market and are still -- there's stil

this is our display on the apple tree. what is the apple tree? well, it's one of those myths about appomattox, about lee's surrender. why is it a myth? because the event that supposedly took place there wasn't what it seemed. lee and grant had been corresponding for several days, since april 7, about the possibility of lee surrendering his army. and on the morning of april 9, when lee is finally ready to surrender his army, he sends a message to general grant. but general grant is moving his headquarters. he's on about a 20-mile ride, so lee's message catch us with him say maybe about 11:00 that morning, and he has to dispatch men to ride ahead to make the arrangements to meet with general lee. he dispatches lieutenant colonel orville babcock and william mckee dunn to ride ahead hand meet lee. they find lee resting under an apple tree at the appomattox river. the confederate forces under general gordon, mahone and e.p. alexander's artillery are on the hills behind this apple tree, and they see this federal officer talking with general lee under i

the sound of opening bell. investors are looking to apple for the tax revenues up to $14 billion. apple stock is down almost a dollar a share, just under $1.06 a share. as for the broader market, there is the dow jones industrial. a live look there, down a quarter of a percent and down to about 64 points. the nasdaq and s&p 500 are also down just about a quarter of a percent. now, the european commission hit apple with a $14 billion tax bill. it contends an investigation finds that ireland granted illegal tax benefits to apple. it says that apple paid substantially less tax than other businesses over many years. the european union has never ordered the company topay this much before. >>> apple preparing to make another kind of news. earlier this month, it sent out an invitation to an event september 7th. as usual, apple is not saying why. but they are expected to unveil the apple 7, hence the date. >>> and the airlines to eliminate mapping. jobs. virgin america says that's about 8% of it total work force. the job cuts will eliminate duplicate position when is burlingame-based virgi

what do you think of the apple watch, or the next big thing? ests: i do not think apple's problem is innovation, they have the most successful product in the history of technology by a mile and it's almost impossible to imagine a company coming up with a bigger thing than the iphone just when you need it. they may eventually come up something bigger, but the notion it will lineup perfectly, that is sort of going on at facebook, but that is unusual. i don't think you can penalize them for that. there was no way the watch was ever going to be a substitute for the phone. what the watch is about is facilitating services like apple pay and getting apple to be more engaged and more connected in the customer experience. emily: you have been consistently critical of apple software. what do you think of the state of apple software right now? the watch has not taken off. roger: i don't care about the watch. i care about products like itunes and their productivity applications are all buggier than they used to be. the user interfaces are more complicated a

alison: the brewery that's using ugly apples. steve: and how hamilton's new aaron burr is preparing for his big debut. fios is not cable. we're wired differently. so we wired the wagner's house with 100 meg internet. tommy can download 30 songs, and jan can upload 120 photos. 12 seconds. that's the power of fiber optics. and right now you can get 100 meg internet with equal upload and dowloads speeds, tv and phone for just $69.99 per month online. cable can't offer internet speeds this fast at a price this good. ??? across new york state, from rochester to the hudson valley, from albany to utica, creative business incentives, infrastructure investment, university partnerships, and the lowest taxes in decades are creating a stronger economy and the right environment in new york state for business to thrive. let us help grow your company's tomorrow- today alison: one brewery's recipe for success, ugly fruit. steve: that's right. melissa shows us why cider makers would rather use less than perfect produce. >> reporter: on a beautiful

computer will introduce macintosh. >> the personal computer war heated up today. appler officially unveiled its new macintosh. >> i would like to let macintosh speak for itself. >> hello. i'm macintosh. >> the introduction to mac was an event. steve jobs really did think of the mac as a thing that would change the world. >> apple is spending $100 million and admittedly, its future, to make inroads against ibm. >> apple felt like a rock band. it had the same kind of spirit. they seemed to be going up against the man in ibm. >> it is aimed at a largely untapped market of managers, professionals and students. while they make up about 75% of the white collar work force, less than 5% now use computers mostly because of their complexity. macintosh is designed for simplicity, using a palm-sized unit called a mouse. >> it was the first time a machine was personal, it was simple, it was friendly. >> it took the computer out of the exclusive domain of geeks and nerds and people who had memorized those commands and put it on the desk of everybody, untrained non-technical people. >

the top story on apple, today's not the first day for apple. it is the fifth in a row.ompany has been ordered to pay up to $14.5 billion in taxes to the european union and the european commission is saying that ireland recently gave apple a big tax break between 2003 and 2014. shame for the balls out there. we had an announcement for the september 7 event to launch the iphone seven. .his is what drives the stock the company passes iphone sales. we see the investor feelings around the iphone last year, and down in sentiment, growing bearish and bullish. we have the stock rig out of the trading range most recently with the stock back in, question is whether or not the break down -- whether or not this is real. perhaps it could stay out of the trading range. it appears what had been a bullish pattern in that there has put in a partial fulfillment to take stocks reef we hire but the stock could just be down in the trading range not just on that issue that around investor ship toward the iphone. perhaps less pleasing than they would like. vonnie: talk to me about a top perfo

the chart sure says sell. with apple stock being this cheap, products being this good, ask yourself, do you know when it will be done going down? can you be nimble enough to get back in before the rebound starts? i know i'm not that good. few are. which is why i always say own apple. don't trade it. doug in california. doug? go ahead, doug. >> caller: hey. can you hear me? >> uh-huh. >> caller: okay. hey, i bought blacker be a bebey at $6.90. >> yeah. >> caller: given the negative company narrative and competition in the industry, i thought the stock may have been oversold when considering the negative. >> yes. >> caller: but improving certainings outlook and cell foreign offering that was touted as the most secure in the industry. stock was at $7.87 at market close. i'm no longer confident in the improving earnings story. should i cash in now? >> yes, geez, this is a game about conviction and discipline. your conviction is waning and your discipline says ka ching ka ching. so i say we move on. and we find the next black

the position in china. as you know, there have been a lot of questions about apples relationship with the chinese governme government. what's interesting is this tactic is seen as entrenching china, apple's position in china through the popularity of products and through the apps. that could be a key no matter what the relationship apple has with the government. now, also today, he took some questions from local journalists who were asking about the sagging sales of the iphone as well as the competition here and he acknowledged the more competitive environment here, but at the same time, he said he's looking forward to the fall, and, of course, as you know, that is when everybody is expecting the iphone 7 to be released and over here it is eagerly await. >> dewayne: as it is here. thank you very much. eunice yoon in beijing. still to come, a diving finish to the women's 400 meters. it's the race everyone will be talking about this morning. that must have hurt. if you get gold. >> first as we head to break, national whether forecast from weather channel. >> good morning. we have a business day ahead. storms will fire

this is coming from twitter potentially through apple tv. in theure, apple may find it has the skills and the chops to be able to start to bid on the properties directly. >> thank you for joining us. >> thank you, lee. >> thank you very much. >>> all right. 36 minutes left in the trading session here. kind of coming off the highs of the session and still in record territory for the averages. >>> tesla watcher calling the automaker stock the single biggest company bubble. he's shorting tesla and he'll explain why. >>> how the shrinking world of retail is shaking up the mix. our courtney reagan will tell us who's moving in to fill the space. >>> welcome back. little more than 30 minutes to go. looks like markets close at records again today with the dow up 67. s&p up 7 and the nasdaq up 29. check out the dow transportation average. among the gainers there today, american airlines and mavis. good enough for the index as mentioned watching overall market signals up nearly 1% itself today. >>> let's check some other movers for the monday. wynn resorts i

people always question the apple cash pile. raw down your cash pile because of something like this. in on the headlines on the bloomberg first word news. going to the newsroom with mark crumpton. mark: donald trump will go to detroit next weekend to make his -- beforearance for predominantly black audience. making a weeks he is bid for african-american voters but in front of mostly white crowds. polls show he has little support among the black electorate. hillary clinton is rolling out a comprehensive plan to day to address millions of americans coping with mental illness. it is aimed at assuring americans would no longer separate mental health from physical health as terms of access of care and physical treatment. it would focus on early diagnosis and internet -- intervention. sandy hook elementary school reopened today four years after a shooting rampage that killed 20 students and six educators. students returned to a 50 million dollar replacement of the old school on the same property in newtown, connecticut. i and issuing a

between the eu and apple. it is never a good thing, he says, to be at odds with regulators. the eu can pressure a company in a lot of different ways from taxation to business practices. having said that munster does not think this decision poses a material risk for investors. guys, back to you. >> thanks, josh. let's bring in carlos gutierrez, former commerce secretary and cnbc contributor larry kudlow. larry, your initial thoughts by the eu? >> this is an eu tax grab. this is an eu power grab. this by the way is like brexit number two. this is one of the things the brits were rebelling about. hats off to the irish finance minister and the rest of the irish government. they have a good thing going there. they have a 12.5% corporate tax rate. the phenomenal economic success for that country, okay. even in recent years they're outperforming everybody with their low business tax rates. and this would be a great time for the united states to get involved in some tax reform, lower business taxes make everything simp

general lee's artillery are on the hills behind this apple tree and they see general lee talking with him under it. he dispatches his orderly to come into the village, find a place to meet, and eventually lee, babcock and dunn ride into the village to the mclean house. the next time the confederate soldiers see general lee, they learn they've been surrendered. they mistakenly assume that the federal officer talking to lee under the apple tree was general grant. so they went over and started to cut the tree down for souvenirs. before long, federal troops came over and asked the confederate soldiers why they were cutting down the tree, and he said this is the tree where general lee surrendered to general grant. the confederate soldiers said, i want part of that tree, too. they went to work getting souvenirs off that tree. that night all the roots had been dug up and there was nothing but a hole in the ground where the apple tree stood. visitors will come through and bring pieces of the apple tree that their ancestors brought home to them, some of which have been donated to the park and

the brewery is it gladly using ugly apples, we will tell you fios is not cable. we're wired differently. 100 meg internet. which means that in the time it takes mr. wagner to pour a 20 oz. cup of coffee, tommy can download 30 songs, and jan can upload 120 photos. 12 seconds. that's the power of fiber optics. and right now you can get 100 meg internet with equal upload and dowloads speeds, tv and phone for just $69.99 per month online. cable can't offer internet speeds this fast at a price this good. >> antwan: aspiring djs learning how to get the party started. >> christina: the school that is putting kids behind the turntables. >> here as been dj academy were learning how to mash up hits. dj, make the beat >> we have kids that we taught here that are working in the business and our teenagers. >> the instructor shares over 30 years years of dj experience with his aspiring stars. he learned how to spin touring with artists notorious big and lil wayne. >> learning how to scratch, mix, transition. were swapping out 32 beats for eight bars. were swapping out parts of

the u.s. of course, apple's critics in the u.s. love to see it repatriate the cash. apple said they won't at 40%. but everybody wants their hands on the money, mike. >> absolutely. except for ireland. jon, stay right there. let's send it over to josh lipton for a look at big battles against governments around the world. >> when you're the world's biggest company by market cap, you have a big target on your back. and it's not just the eu, of course, earlier this year, cook went head to head with the fbi when he refused to help the government unlock the phone used by the san bernardino terrorists. remember, cook said that would have threatened the security of his customers. also, he argued that building a version of ios that bypassed security would have created a back door. and then there's china and apple is also facing challenges with the government. apple's top lawyer bruce sewell told congress they've been asked in the past to hand over the source code but the tech giant has refused that request. separately, regulators suspended the company's online books and movies