which were targeted at travis kalanick.rs,he early who would be likely to sell as apart of the deal, has agreed to put their lawsuit on hold. if the agreement goes through, would probably drop the lawsuit. allows travis kalanick to walk away, benchmark to walk away, and uber gets to turn the page and move on. julie: are there any indications of this for the ipo process? >> we should think about this as pretty similar to an ipo. in terms of the raw numbers, $9 billion raise, that would be five times bigger than twitter. facebook, when it went public, raised $16 billion. this will be away for early shareholders, investors to take money out of the table. i expect to see some of the same stories about uber millionaires, people that started early. as far as the future of the ipo, that is probably not something we are looking at until 2019, but getting this done, getting this messy corporate governance fixed, is crucial to not only going public that perhaps surviving. shery: how big of a deal of this is his for safed -- softbank?

mark: so many questions -- what does travis kalanick know?> it appears that joe sullivan, the chief security officer that was fired as part of this disclosure was very close with travis kalanick. the assumption is travis kalanick, who is still on the board of uber, played a role in this decision. -- itsed larger questions raises larger questions about how silicon valley companies are treating data. joe sullivan was a very well regarded figure in the silicon valley security world, he was chief security officer at facebook for five years and is a former u.s. prosecutor. this may have been a case of some sort of bad ethical decisions but we are talking about people well regarded prior to this. vonnie: thank you very much. his a look at a story -- at story. let's check in with the first word news. chances the senate republican tax bill will pass next week have gotten better as lisa murkowski of alaska says she agrees with the decision to kill the obamacare individual mandate which is now part of the legislation. she previously said she did not wa

his job at this point is to exercise the ghost of travis kalanick.he positive is that they found this and they are dealing with it. it is maybe a year too late, but at least they've told us now. emily: thank you both. we will continue to follow the developing stories. the security and exchange commission likely involved used criminals. intruders may have had access, for months, to a database never meant for public release. the corporate data could have led to illegal trades. coming up, do you hit the like button on any russian sponsored content? did you? facebook is getting ready to show you if you did. bloomberg tech is live streaming on twitter. 5 p.m. in new york, 2 p.m. in san francisco. ♪ emily: more optimism around bitcoin. doubling the price target to $11,500 by the middle of 2018. a 40% gain from current levels. a strategist says a pullback set the stage for the surge. the hedge fund manager projected bitcoin will end at $10,000. just a few weeks ago, the world got to see the infamous russian length facebook accounts on russian meddling in th

firmsee venture capital benchmark causing its suit against travis kalanick.tions for demand are driving a pickup in non-mining investments, helping to buoy the economy. in real terms, such investment is about 70% higher than 10 years ago -- 17% higher than 10 years ago. the imf has welcomed china's decision to relax restrictions on foreign ownership that shows increasing confidence in the financial system. they say china is listening to warning about excessive debt and taking action to wind leverage, which shows a newfound confidence. is consideringit to remove at least partially those barriers and to move above the threshold of 50% and gradually a limited those thresholds. that is an indication of openness and also strength and confidence in their own system. host: in philadelphia, fed president patrick harker is the latest policymaker to all but confirm a rate hike for the end of the year. speaking in tokyo, he said a move is "likely penciled in," and that he would be covered will with three hikes in 2018. he also says the eventual size of the fed balance s

. >> ceo travis kalanick, who was led out of the door. he does have seat on the board but at best in the kindness of terms people said he did not have the maturity to have the position of ceo, at worst people said he doesn't understand ethics as the average person would. neil: but here is the question, this is not the first company to be caught up in something like this and we find out about it months, in this case more than a year later, we all know the targets. >> sure. neil: how did they explain the delay -- >> the difference is travis kalanick, the former ceo paid off the hackers, right. neil: 100,000 to make it go away. >> keep it to yourselves that you got this information, we are going to pay you the money and then hid it, normally also a company is supposed to go to the ftc, supposed to go to state ag, alert authorities, right, so that even that hacker can be brought to justice or at least try. neil: now everybody and uncle is looking into it. illinois and massachusetts are the latest ones? >> but the point is at the time when the

travis kalanick has been pretty quiet so far on all thing.ready been put on notice that another investigation is going to be forthcoming. and a bunch of customers also slapped it with a class-action suit. insofar as the new ceo, he is just apologizing area. 20put out a story t minutes ago. almost every statement you have made since replacing travis kalanick has been in the form of apologies or mistakes were made. we believe it there. thank you very much indeed. reed stevenson, bloomberg's deputy technology editor joining us on the uber story. just a london, it is lack of trust in the uber team which caused so much of the issues surrounding the licensing in the country. matt: they did not get credit card numbers or travel data. they just got names and addresses, i think. if you are one of the 37 million customers, you don't have to worry that much. next, we will talk more about what is going on in germany. could we see a new grand coalition? this is bloomberg. ♪ matt: stocking up. u.s. equities surged to all-time highs. the buying continues in

it will see benchmark pausing its lawsuit against travis kalanick.will mark complains when the investment and governance reforms kick in. j.p. morgan says china is poised for a surge in m&a activity. deal making said to pick up, particularly in aviation. president xiter jinping promise china would take big strides in reform in the coming years and that foreign companies could expect improved access to china. emirates has agreed to buy $15 billion worth of boeing dreamliners, coming to a blow to airbus, which had been planning to announce its own deal. speaksannouncement today to our confidence in the future of aviation in the uae and region. these new planes we have just ordered will deliver from 2022. david: you can catch our interview with m clark later today on bloomberg television -- tim clark later today on television bloomberg. coming up, markets in the middle east get set to open up. that is next. this is bloomberg. ♪ ♪ razer has soared, gaining 40% at one point. we spoke with the ceo earlier on the show and asked him why hong kong. >> we thou

uber and travis kalanick kept the breach concealed for a year.week, the company ousted the chief security officer and another executive for their roles in keeping the hack under wraps. rather than report the breach, uber paid the hackers $100,000 to delete the information. eric newcomer broke the story and joined us with more. eric: more than a year ago, uber heard from the attackers they found a way to get names, telephone numbers, that sort of information on 50 million riders and 7 million drivers. and most importantly, drivers license numbers for 600,000 drivers. the concern is that is information that uber was required to disclose and did not. now more than a year later with a new c.e.o., the company is deciding to come forward and say that they should have disclosed this information, and here is what happened. emily: dara khosrowshahi is telling you none of this should have happened. he will not make excuses, and they are changing the way they do business. uber has been negotiating with regulators over privacy issues for a long time. what ma

holders voting power and expand the number of directors on the board and reduce the influence of travis kalanick following a number of scandals under his tenure including a data hack and a license dispute in london. arjun has perspective on this. the 30% discount, do you think this is a result of the scandals or was this already expected >> we heard over the past year and a half, scandal after scandal, bans in certain markets. the cyberhack the latest of those. that's all priced in now that's why softbank wants to buy those shares at the same time they are investing a fresh billion dollars into the company at the firm's current valuation of 68 billion. they still see value there this is a liquidity event for early shareholders, those who want to buy softbank targeting 14% to 20% ownership of uber that is going to come from those early shareholders and hopefully they're willing to stomach the hair cut in valuation. >> it feels like the company is tainted by what happened under travis kalanick's era, yet he's still a member of the board. do you think his position is -- could become liable at some

among those changes, reduced powers for the former ceo, travis kalanick.uber is one step closer to going public by 2019. >> this was quite an overhang for the company. in more deal talk, hasbro is making a move for mattel landon dowdy has more. >> g.i. joe may be taking over bids for barbie. mattel and hasbro up sharply following reports that hasbro has offered to buy mattel as both firms look for survival tactics in what is a struggling industry mattel's market is up $5 billion, less than half of hasbro if the deal goes through, it would create a toy titan hasbro's brands include nerf, my little pony and it has the licensing rights for "star wars." mattel has barbie, american girl and it has been struggling with weaker sales take a look at these stocks this morning, mattel up 22%, hasbro up 3.3 back to you. >> landon, thank you very much quite a reversal of fortunes as landon mentioned, hasbro twice as large as mattel in terms of market value. five years ago it was the reverse. hasbro's been on a role. mattel has been struggling >>. >> this takes up shelf

emily: what do you think travis kalanick's role should be? jim: i think the board will decide that. ily: some people think he should not be on the board at all. jim: i think the board and travis will decide what his role is going forward. will remain ais larger shareholder and hopefully a positive player in the company. emily: has your position on ?ravis's role changed tpd did not sign the letter asking for him to resign. amount ofve a huge respect for what was accomplished of the company and what was accomplished generally. companies have to evolve, so we evolutionin favor of positive ways, and i don't think that is necessarily a focus on indie individual -- any individual, but are pleased to see the company moving for conference they must. emily: what is the lesson tp has learned from the way uber story has unfolded? jim: uber works in reverse dog years. if i take away one message it is that governance and culture really matter. in the flurry of growth out here in silicon valley we need to keep focus on governance and culture. emily: how is that? revenues, weild build the cultural

uber was already under investigation for privacy violations while dealing the troubled tenure of travis kalanick. uber's new ceo wrote: none of this should have happened and i will not make excuses for it. we are changing the way we are doing business. >> it's going to take time to clean things up. he needs new leaders and change the culture. that's a big project. >> reporter: carter evans, cbs news, los angeles. >>> uber says it took immediate steps last year to secure the data and it sees no evidence of fraud or misuse tied to the incident. a security officer and executive were fired in connection. >>> walgreens is trying to cut down on robberies in its stores. the company has installed time delayed safes in its pharmacies in several states to protect the medicines that thieves target. walgreens says that criminals are less likely to rob a pharmacy when they know that they will have to wait for a safe to open. >> it's a time delay safe so the pharmacist once they activate the safe the safe stays locked for several minutes. they cannot get into it. they have no control over that. this allows th

travis kalanick is still on the board. this is something he will have to answer to.nk this changes anything for softbank? this is another issue to layer upon other issues the company has been tackling. you can look at this and go, do we need to rethink our investment? emily: sources on both sides of the table, softbank and uber said the deal. go through. -- will still go through. about $10ill invest billion in uber, which could work in the softbank's favor. they could say, he will pay a lower price at this point. the company is dealing with yet another headache. this is definitely raising a lot of questions. as far as of the deal will go through, both sides are telling us this hack does not change anything. scarlet: we will wait to see how that shakes out. another bigas far as of the deao story is the asignation of meg whitman the ceo of hp enterprises. quickly,aving fairly the first of 2018. what is the buzz in silicon valley? emily: when meg whitman took over, hp was a company that was struggling. she took on a massive challenge, she split up a company into hpe nad

depends whether the big investors want to sell, like google and benchmark, and even travis kalanick,there's still a lot of uncertainty out there, but at the same time it's a real step forward for what people inside uber are calling the peace deal, essentially, to cause peace in the kingdom of uber, which has been fraught, as you know >> how much do we make of this valuation haircut? talk of uber being worth as much as $70 billion this looks like $40 to $50 billion. is this what everybody assumed at this point, or is there more to it from that perspective? are employees going to be disappointed at this valuation level? >> well, it depends how many people sell and what they sell at if not enough people sell, softbank wants 15% or more of this company that's their bottom, 14%, 15%. if they don't get what they want, they have to raise the price. the question is, do softbank want to raise the price? they've said publicly they are not paying too much for it at the same time some think the company is worth $100 billion, so selling now is a problem. i've heard a bunch of the larger investors

alix: travis kalanick is still on the board. does he keep that seat for long? anythinge has not said so far. travis is still on the board. he controls 2 other board seats as well. i don't think he is going anywhere. i think he is holding on to his board position. whether he will be forced to make a statement about the hack, i'm not sure. it is possible he will make some kind of statement in the coming days. jonathan: i want to bring in steve wood. where would it be trading in after hours? i assume it would be down 20% or 30%. knee-jerk reaction was it is a good job they aren't public. do they need to get public? the discipline of the market might be a good thing for this company. steve: it could be. the market is very disciplining. this is part of what we will see as they struggle through a lot of internal issues and how they will price this. i would agree that this is going to give more leverage to external offers then internal players right now. alix: what is this doing for the private versus public market valuation. what does that say to you? steve: they will

the headlines when the men are high profile figures like donald trump have you when you see all travis kalanick the former boss who didn't stop sexism company. but i have no doubt it also goes on in all the companies i meet in an arbiter of who came to prominence after launching the head. or shot back in value women to make their experiences of harrison and book. men and power do you think of the business world is infested with sexism i think our whole society is infested with sexism so of course the business world does is not an exception and do you think women in that power would bring in them so they say attacks if the culture especially in the business world is so toxic we need to change the culture in itself and not just bringing more women into the system. especially when then they are supposed to be fixing it you know we should all be fixing it it's a societal responsibility and why don't women defend themselves i think that's actually the wrong question to us we should be more asking why are men still doing this you know and what is the breeding ground in our society that this is still

former uber ceo travis kalanick resigned in june after he was accused of building a corporate culturelowed sexual harassment >>> well, uber hack is just latest data breach we are learning about. millions of other americans have had their information compromised in similar attacks , among them is this summer's equifax hack. cyber security experts say is there a big concern about attacks like that. your information may end up on part of the internet called the dark webb, that is an untraceable part of the internet that attracts criminals. >> it is filled with tons of information about available out in the wild for people to access, buy and sell. >> what can they do with it. >> anything they want. they can control the world in a sense. that is part that scares me so much. >> reporter: cyber security experts recommend using cash instead of the debit card to protect yourself and if you suspect your information is compromised they suggest you freeze your credit immediately we will be right running a small business is demanding. and that's why small business owners need more. like internet t

the now according to uber, the company's former ceo travis kalanick learned of the breach last november. the hackers e-mailed the company demanding ransom money. by law the company was supposed to report the hack to regulators as well as the drivers whose license numbers were compromised, but it didn't do that. instead bloomberg news is reporting that uber paid $100,000 to the hackers to delete the data and keep the breach quiet. the compromised data includes 50 million uber customers' names and e-mail addresses as well as their phone numbers and 7 million uber drivers' personal information and license numbers. uber says no social security numbers or trip details were revealed. cnet says there's no guarantee the compromised data has been destroyed. >> this is part of the problem of working with hackers is that you don't know whether they're being honest with you or not. we don't know whether it was deleted. >> this week uber fired its chief security officer, joe sullivan, and one of his deputies for their roles in keeping the sack a secret. sullivan is reported -- hack a secret. sulliva

change a reputation for recklessness following a string of scandals under founder and former ceo travis kalanick is also pushing for a new round of investment. >> the fact that they refuse to tell people that tens of thousas of driver's licenses, that all this personal data was floating around outside of its control, only reinforces the impression that people have that this is a company that does not care about what happens to his user's data. reporter: customers say the latest revelations make them uneasy. >> uncomfortable. >> it is a little disappointing. i use uber. i had no idea this was going on. reporter: but will they actually leave uber? valued at nearly $70 billion, the company is already the largest ridesharing service in the world. d it has continued to grow despite past controversies. that means the latest scandal for uber may just be the latest bump in the road. daniel: u.k. finance minister philip hammond has the unenviable task of trying to relieve the burden of austerity in the country while reducing borrowing. the timing could not be worse. in his autumn budget today, hammond lo

the previous ceo, travis kalanick, knew about it in november 2016.are making a public, notjust to its users, but to regulators in the various markets around the world that it operates in. that is the problem here, the fact that they kept it secret at a time that people's data had been exposed by the hackers. there is no evidence that use the data for anything, but that's kind of not the point. the fact that they could have done for over a year it will be extremely troubling for people who use uber, and the regulators who are tasked with keeping our data's safe. they're now asking uber why they decided to keep it quiet. every time uber has a scandal, whether it's sexual harrassment, or lawsuits involving google, or various other regulatory issues it's had, that date of going public seems to get pushed further and further back. they're just had, or they're just about to announce, an enormous new funding round that keeps them going for quite some time. so they're in no rush to do it. i think uber‘s investors, while they're keen for to have an exit, as t

do you feel like you were misled by travis kalanick? arianna: no.t is interesting today, looking back at the testimony around wamo, we are very confident of our facts in this case. nothing in the testimony that changed in the news has the facts. the softbank deal has been launched and we are happy. there is a lot of good news. points of thef cultural transformation. the new cultural values no longer included some of the old values, like working smarter, longer, harder. doing the right thing is not a cultural value -- is now a cultural value area we are excited about all of the amazing changes. emily: that was arianna ipfington along with our general partner. coming up, 10 espn navigate -- can espn navigate the changing sports media landscape? this is bloomberg. ♪ emily: alibaba is planning a $7 billion bond offering, the largest bond sale by an asian corporation here. securities will range from 5.5 years to 4 years. the deal would eclipse the $6.6 billion offering from china ever grand. year,e second time this espn is firing staffers. it is about 15

the previous ceo, travis kalanick, knew about it in 2016.users, but to regulators in the various markets around the world in which it operates. that is the problem here, the fact that they kept it secret at a time that people's data had been exposed by the hackers. there is no evidence that use the data for anything, but that is not the point. the fact that they could have done for over a year it will be extremely troubling for people who use uber, and the regulators who are tasked with keeping our data said. they ask you wait uber decided to keep it safe. every time uber has a scandal, that date of going public seems to get pushed further and further back. we're just have, all we are just about to hear of a new funding round that will keep them go for sometime. so they are in the rush to do. so while uber‘s investors are looking for a chance to have an excerpt, while they are keen for that to happen sooner rather than later, doing it from any of these things is ongoing means that return would be lower than it could potentially be if they we

uber, including travis kalanick kept the breach concealed for a year rather than report it.paid the hackers $100,000 to delete the information. >> it is so crazy. or than a year ago, uber heard from the hackers the day it found a way to get information, names, telephone numbers, that sort of information on 50 million writers. and 7 million drivers, most importantly, drivers license numbers for 600,000 drivers. that is information that uber was required to disclose and did not. more than a year later with a new ceo, the company is deciding here isforward and say what happened. planning to raise money for its assets to avoid being delisted from the tokyo stock exchange. what kind of pressure is toshiba facing over this delisting? >> they have been in trouble for a while because of the nuclear assets in the u.s.. this is the westinghouse business it bought a few years back. a very troubled foray into this business. a multibillion-dollar losses. because of that, they've had to raise capital. the shareholder equity is negative and they need to move that back in a positive territo

travis kalanick is giving up some control over the board. hold a lawsuit against the former ceo. >> so putting that issue on hold clears the way for investors, including softbank. what is having a firm like will it improve uber in the competitive markets around the world? what will be the difference with softbank there? >> softbank has invested aggressively around rideshare companies around the world. in the chinaleader grab inand ola and india and southeast asia. there may be opportunities to share technology, collaborate a hit. it is not clear how far they may go down that road, if there are antitrust concerns, but at least softbank will benefit if this deal goes through. >> this investment includes lying up $9 billion of shares from existing investors. what price are we expecting to see softbank pay? >> it has not been set yet. they set the terms for the offer so softbank can bid for the shares, existing shareholders can respond. there was some back-and-forth about the process on how that final price will be set. the $70be lower than bill

benchmark, one of the early venture capital firms in uber, is planning on dropping a lawsuit against travis kalanickning on giving up some of the control over the three board seats along with the majority to decide how they will vote. there are governance reforms and the capital investment. cash: other than the injection, what would having softbank alongside uber is an investor help the company in terms of some of the more difficult markets around the world? has been one of the most aggressive investors in these ride hailing companies around the world. it's already invested in three other companies in china, india and southeast asia. there are opportunities for some kind of cooperation among the firms. those three companies in the past have been cooperating with , so theompetitor lyft balance has changed a little bit. they have to be careful how much corporation there is, it may raise antitrust concerns. haidi: part of the deal is buying up to $9 billion in shares from existing shareholders. cutprice a we expecting to see softbank pay -- what kind of price are we expecting to see softbank pay? set q

he says travis and the whole board is into that idea and that he has a good relationship with travis kalanickd that surprise you? >> travis has evolved, i think, and learned a lot. he's done a tremendous job getting the company to where it is and now you have dara coming in, who has this other skill set and is really fixing things up and getting us on a clear path towards an ipo and there's this other optionality, the masa ipo. everybody is talking about why ipo when you can massa, you know, massa is going to save all these companies and put the money in and we're good. >> yeah. >> so i feel great about it. >> question of who he's going to hit with that wand, though is it going to be uber, lyft, he doesn't hit everybody. got to move on and talk disney reporting results yesterday missing estimates on earnings and revenue, but still stocks higher after ceo bob eiger announced plans to take on netflix. take a listen. >> we've given a lot of thought to pricing both espn and the disney brand of service, and i can't get specific with you yet. we haven't actually officially determined it, but we sai

kallick -- travis kalanick told board members tuesday that he wants to remove a provision that wouldim from appointing for members in the future. the japanese company planned to invest a potential $10 billion has not been finalized. a decision is expected soon. coming up, after this week's hearings on capitol hill, what will the future of political ads online be? we speak to a former executive that helps them craft their online presence next. you can watch us live. if you missed the interview you can go back to it. you can send our producers a message on air. it is for subscribers only. check it out. this is bloomberg. ♪ ♪ singapore.d i'm haslinda amin with the latest news. bloomberg has been told that the republican tech build will impose a one-time tax of 12% of and taxation -- companies, 5% for non-cash holdings. an estimated $2.6 trillion is stashed offs are -- offshore. they also plan on phasing out the proposed corporate rate of decade.r a big tech remains under fire on capitol hill for the perceived slow response to russian meddling in the election. the committee berated lawye

former inverse ceo -- former uber ceo travis kalanick told board members tuesday that he wants to removevision that would prevent him from appointing for members in the future. the japanese company's plan to invest a potential $10 billion has not been finalized. a final decision is expected soon. coming up, after this week's hearings on capitol hill, what will the future of political online ads be? we will speak to a former executive that helps politicians craft their online presence, next. you can watch us live. if you missed the interview, you can go back to it. you can send our producers a message. this is bloomberg. ♪ juliette: bloomberg is being pickpresident trump will powell as his choice to succeed janet yellen. announcement at 3:00 p.m. eastern time in washington. to favor onlyn gradual hikes and loser financial regulations. is expectedengland to raise interest rates thursday for the first time in more than a decade. however, mark carney has been warned a hike now would be the wrong move. shinzo abe praised the bank of japan's efforts to revive the economy. thatloomberg has been

that deal was delayed by the benchmark capital and ousted over ceo travis kalanick by both sides came to terms clearing the way for the investment. geri: kalanick losing more power here. if they given here. a big deal in a story we've looking forward to the general electric will concerns about the dividend mayor. >> this is a big day today. ceo john flannery expected to focus on through the company's biggest biggest ninth, aviation power and health care according to "the wall street journal" promise sweeping changes going forward after disastrous third quarter so investors will be looking for details on changes including the fate of his dividends. ge is the worst performer of the dow was sure his son than 35%. geri: balladry dissecting dividend since the great depression for that company. lauren: and it's reliable. talking about wal-mart out of the season. an interesting strategy that will save you money in the store but not online. >> yeah, that is very. considering another slogan's everyday low price. wal-mart wants to charge customers more to buy products online than in stores to b

travis kalanick, the former ceo, remains on the board and board membersank who knew about the hack inr of 2016. this went all the way to the top, and more than a year later, to come cleaned with the hack of 57 million people's information. betty: that was bloomberg technology's eric newcomer who broke the story on uber. the new york attorney general is to open investigation into this matter. all thescuss implications of all of this with tom kellerman, strategic cyber adventures ceo -- cyber ventures ceo. he served as adviser to the international cyber security protection alliance. thanks for joining us on this breaking story. i don't know what struck you most out of this hack. was it the fact that uber knew about this a year ago, or the fact that they paid these hackers to keep it quiet? payment of ransom is agree just. the lack of investment and proactive cyber security measures to protect their supply chain of developers who were the reasons why hackers had a footprint to begin with was beyond the pale. is shocked, and i think this a bridge beyond regard as it relates to the standar

the personal data a 50 million customers and 7 million drivers, uber including the former ceo travis kalanickept the breach a secret for a year. the chief security officer and another executive were criticized for keeping it under wraps other than report the breach. uber paid by hackers $100,000 to delete the information. joining me now is bloomberg tech's eric. know in termso we of what happened here? >> it is so crazy. more than a year ago, uber heard from these actors the day they found a way to get information, names come a telephone numbers, that sort of information and then information at 7 million drivers. and drivers license numbers for 600,000 drivers. the concern here is that is information uber was required to disclose and it didn't. now with more than a year later, the company is deciding to come forward and say that they should have disclosed this information and here is what happened. >> he is selling you the should not have happened, i will not make excuses for it we are changing the way we do business. think that they can get away from something like this? eric: while they wer

travis kalanick was ousted as ceo in june after an internal investigation revealed he had built a cultureat allowed female workers to be sexually harassed. (vicki) uber's current ceo criticized the company's handling of the data theft in a blog post today... that said there's no evidence the stolen information has been misused.(grant) bloomberg is reporting that uber paid the hackers 100-thousand dollars to keep the hack under wraps. and the company's chief security officer and one of his deputies have been fired. (vicki) c-n-n has released a list of the 14 hottest toys this holiday season. there are many innovative options to choose from -- and many double as teaching tools. from a do-it-yourself star wars droid to a new hatchimals toy and interactive fingerlings, these products are worthy of a spot on holiday wish lists. the hottest toys include: the x-p-v x-treme skateboard, barbie dreamhorse, hatchimals surprise, and many more.. for the complete list log onto kron4 dot com. (grant) and turkey day comes early for some families in the east bay... tonight we're live in hayward where a ca

san francisco- based company is trying to clean up its image after a camera caught former ceo travis kalanick lashing out at one of uber's drivers. it's facing several criminal probablies by the government and dozen -- probes by the government and dozens of lawsuits. uber did fire chief security officer joe sullivan this week for the data breach coverup, but cnet executive editor saying uber has a lot of answers to give its customers and employees. >> they have to prove to us they're serious about this stuff to keep our trust. >> reporter: bay area tech expert russ hancock agrees. >> when something happens like this, always the best policy is transparency. so had uber been forthcoming, they wouldn't be taking a black eye right now. >> reporter: the big question tonight is did hackers really delete all that information? the tech experts we spoke to say we may never know. live in san jose, maria medina, kpix5. >>> trouble on the evening commute, a muni bus has collided with a work truck in san francisco. chopper 5 flew over the scene on courtland and banks in the vernal heights neighborhood. th

#delete uber gained notoriety after allegations including sexism in the ranks and the eo travis kalanickusted from his position. >> the two biggest toymakers in the u.s. could join forces. >> now, with the details, financial reporter jason brooks. >> reporter: qualcom rejects broadcom's $130 billion offer to buy the san diego firm. it would be the biggest deal ever in the tech industry. the board rejects the moves. they said it dramatically undervalues qualcom as well as posting regulatory concerns. this may not be over. broadcom may decide to go and try to elect new board members and that could go to shareholders for the hospital takeover move. we will see what the next chapter brings. >>> that could be a potential deal in the toy making industry. hasbro reportedly contacted mattel about the possible move. people are shopping online more and more and kids are playing digital games. shares of mattel are surging higher on the news. it could face regulatory hurdles, given that they are the two biggest toymakers. the dividend was cut in half and the major restructuring may trim down busines

this all happened while former seat of -- ceo travis kalanick was still the team. he ordered an investigation as soon as he landed the breach. here's what he said in a blog post. none of this should've happened and i will not make excuses for it hereby can't erase the past i will commit on behalf of every employee that we learn from our mistakes. we are changing the way we do business and integrity at the core of every business under decision we make in earning the trust of our customers. this inspired chief security officer joe sullivan for their role in the breach and covering it up. train to all of this is still a lot of excitement about goober ipo. the question is will this affect the valuation of the company. lauren: also trying to get investments from softbank and this could affect the value as well. transfer they have to disclose this. so they could affect this. cheryl: tracee carrasco on this all morning. lauren: the fcc wants to get rid of rows of equal access on the internet and it would allow che cable and telecom companies to slow down pride in speed an

and travis kalanick knew about the information a month after it happened.d been told that they were safe because there was no forward. 600,000 or so in the drivers that are offered protection. >> that's certainly a cover-up to say the least. office uber's ceo suggested deranking sites to combat the spread of such information and weaponize content, of course that affected the elections here in particular. russia, though, they're not into it? >> well, we made a call, of course. but on that, there's been a huge pushback against fake news from the president himself and also to the administration. so, social media companies are under pressure to prove they're doing something about this. now, when it comes to these two, these are two of russia's biggest media organizations. rt an online content provider and sputnik, an online media group. and google the way they're ranked on google from the two outfits, with censorship, not the only companies to do it. >> karen tso live for us in london, thank you. >> i want to turn to bonnie schneider with the weather. >> hi, ya

better about where we are than frankly, i was going in >> so what is your relationship like with travis kalanicka good relationship. but it's also -- it comes with balance. what i told travis very early on is that any new ceo needs space. and needs distance from the old ceo. and so i told him very early on, travis sometimes i'm going to be pushing you away early on because i need my space. i need to be able to meet with a team i need to be able to communicate with them so they're just communicating with me and they don't have someone to go around if they don't like something they've heard, et cetera so you've got to let me engage with the team, engage with the company, engage with the culture. and i was a little worried about that conversation. but actually he took it really well he took it really well and he's been very respectful and at the same time, he's been available to me whenever i've needed him and i think we're going to go through a process where early on, i've got to put my stamp on the company. the new team has to put the stamp on the company and over a period of time, i would be foo

travis kalanick know and when did he know it? eric: always a good question. of this falls to their chief security officer. he was also their deputy general counsel. he has now been ousted along with another senior attorney. kalanick new in 20 the hack had taken place. he knew the company had been negotiating with the attorney general's office in new york and the ftc. there are questions about how much he knew, the legal reasoning and legal obligations behind the decision, but he certainly knew about the hack and the scrutiny uber faced. emily: what kind of penalty could uber face? some sort of consequences from regulators, could they be hit with a lawsuit in fact? eric: anything is possible. as we reported before, uber faces ongoing criminal probes that have touched at least five different areas. this is a company that over time regulators and law enforcement officials are looking at, and there are dozens of civil suits against uber, so it would not be surprising that something like that could happen, but i think we have to wait and see what the actual conseq

was a high-profile hire in 2015 coming from facebook as their head of security i'm told that travis kalanickw befoabout the breach but l it in sullivan's hands i think we're at the start of this latest crisis back to you. >> thanks. mike, you're still here. you said something interesting in the last hour about uber, that's what the impact would have been had they been public already on something like this >> would think had they not disclosed this somehow in a regulatory filing when it happened, certainly a payment to hackers, i don't know how you would finesse that, if you're a public company the big question for me, bigger picture, through all this, there's not been a discernible effect on usage of the services, on the customer side i don't know if that will change >> i have an odd and probably unpopular take on this incident. >> surprise. >> what a great deal just $100,000 to put to rest a $57 million account hack that's a bargain any company would take >> how do you know it worked we don't >> we don't know the full story. there's also questions about how this hack took place it appear th

come along with some governance reforms in the company to decrease the influence of the x ceo travis kalanickl give investors a bit more influence in that respect. host: it could be the biggest. tech takeover ever. broadcom going over after qualcomm, with $5 billion deal. qualcomm rejects broadcom's unsolicited proposal. guest: the shares are unmoved, i think it is something -- the relationship between them has never been good. at the moment it is particularly bad, they became hostile while qualcomm themselves were in the middle of try to do a deal with the company called nxp. semiconductor space, this is deal on top of deal on top of deal. are these guys going to get on with integrating the deals on the table? guest: that will be one of the huge challenges. how does qualcomm integrate growth broadcom and another company, nxp. i think it is difficult for qualcomm to pull out, so broadcom would essentially have to pursue both companies. like the russian deal, it is a deal within a deal with the deal, the russian dolls. host: at&t wants to buy time warner but the word now out of the justice dep

there were some contentions over travis kalanick's role. ey made some compromises and benchmarks made some compromises. tell us about those. eric: travis wanted benchmark to put their fraud lawsuit against him on hold, and agreed to end it at the end of all of this once governance reforms goes through. benchmark has been unwilling to put it on hold, and really commit publicly that there was going to be any sort of lawsuit. they came around, and travis agreed to give the board sort of the approval. the board has a majority of the approval if he replaces his own board seats that he failed going forward. that was the major compromise. emily: corey, what is your take on the hurdles that remain? cory: the way to think about this is in terms of the ipo for the long-term shareholders. this will allow a lot of the long-term shareholders to get out of $8 billion worth of stock. so, but it also really clears up the corporate governance questions of who owns what in the company, and what classes of shares of stock may be offered in the public stock? no