a number of vw investors actually sold shares of vw so they could buy the porsche ipo. believe that stock -- it is really undervalued. obviously there is the sum of the parts story. it has not gotten credit for the value of porsche and the ipo. investors might take a closer look. that said, the concern has to do with what's happening with them in china. competition is intensifying. that is their biggest market. ev's, they have had some stumbles. some is related to semi. some is related to their offering. if they can fix that in china, i think folks will take a closer look. dani: thank you for staying up late for us, though i feel like 10:41 in vegas is not late in vegas time. now coming up, in his first big speech of the year, prime minister rishi sunak sets out five priorities for the u.k. economy. we are going to get the details with lizzy burden next. this is bloomberg. ♪ >> everybody in the u.k. will be glad to see it back in 2022. >> i see this year as having brought back into focus -- a lot of obstacles that have been there for a very long time. >> we have seen an

some as small as a vw bus, some as large as a hotel pool. stunning. >> clearing it all out is going to require more creativity. >> what can we do with this inventory, if you will ? can we turn it into energy and heat ? alternative biofuels ? boutique industries like tahoe slab ? >> reporter: that's why they launched this multimillion dollar effort to invest in project that build healthier for us and stimulate the local economy by making the most of mother nature's trash. >> you really cannot pick a better sector at this moment. particularly in california. to engage in and feel like you are really making a difference. >> if we can turn it into smoke and ash or build a house out of it , i think building a house is a more meaningful thing for society. >> they're working to expand their operation to an old all-male, training people to do the work as they go. >> that is it for the news at 5:00 red cbs news with juliette goodrich starts now. >>> the bay area finally drying out. the latest round of rain took a parting shot, leaving a mess of my bit

no maam, class volume and things have seen a very colorful development since yonkers vw beetle and muster. although the taste of the v w fans have changed somewhat double with rice, a g t i g 60 edition, one, a jewel and a gulf crone dating from 1990 and packing, 280 horse palace. most of them has a dear wife stole a custom edition to 21 year old has cerebral palsy and with his dad built something that was not easily available on the market. golf one cabrio with alta matic transmission. don't hear them w tom, yet. adornment never does it mean that such a thing for you? yeah, you decide. you and i and i to talk to me by the pickup dish. oh so dish group is short finished much turbos. well, what are the one national broadsword? close jelly with georgia chowsky? so oh, and the what are the one is just the name and even ali because they're full via ya . ya lege. no. nope. does no good. i wasn't one of the fall. we're not on to the said i'll be lunch that for those to live. do denise or the non barden bottom moved, madame, won't, it was not wilson. this is no novel and dad's rounds of my train

no maam, class as well, yolk and things have seen a very colorful development since yonkers vw beetle and muster. although the taste of the v w fans have changed somewhat double drives a g t i g 60 edition, one, a jewel, and a golf crone dating from 1990 and packing, 280 horse palace. most of them has a dea. why stole a custom edition to 21 year old has cerebral palsy and with his dad built something that was not easily available on the market. gulf one cabrio with alta matic transmission, multi m w. told me it. oh boy, dorm, it may well does it? well, that's such a thing for you. yeah, you said you and i and i had to talk to me by the pickup dish. also. dish group, the short clinician much. they're both. well, what are the one esther brownstone was close jelly, summer towards your chowsky. sunk on the what are the one interesting ramonica ali returned there. phobia yacht knowledge? no, no, no no. i wasn't one of the fall. we're not on to the said i'll be lunch that for those to live. do denise or the non barden bottom moved? let him won't, it was not so wilson does his new number and

no maam, course lawyer and things have seen a very colorful development since yonkers vw, beetle, and master. although the taste of the v w fans have changed somewhat double with rice, a g t i g 60 edition, one, a jewel and a golf cron, dating from 1990 and packing, 280 horse palace. most of them has a dear wife's doll accustom additional to 21 year old has cerebral palsy and with his dad built something there was not easily available on the market golf one cabrio without a magic transmission. dampier than w. t. warm yet? i thought boy dormant may waddell mirabelle. i should think of robin. yeah, you're right. yolanda and i had to talk to me as to whether to keep dish all settled. is she cooper short, finished much verbals from what are the one this took parents were suppose jelly summer towards your chowsky sunk on the what are the one interesting ramonica ali returned their phone with ya. knowledge. no. nope. does no good. i wasn't one of the fall, we're not on to the quote thus allow believes that for those to live, do denise or the non bottom bottom moved. let him won't. it was no

since yell goes vw beetle and musta. although the taste of the v w fans have changed somewhat double drives the g t i g 60 edition, one, a jewel and a gulf crone dating from 1990 and packing, 280 horse palace. most of them has a d, i. y stole a custom additional to 21 year old has cerebral policy and with his dad build something that was not easily available on the market. a gulf one cabrio without a magic transmission. nancy or m w, or formula? little boy dog may. what does it mean that such a funny? yeah, you decide. you and i and i to talk to me as well. the pick up dish. oh, so dish cooper. srq flemish much turbos from godaddy. one is to throw switch clothes, jelly, summer towards your chowsky. sunk on the what are the one is just a name, a needed ali because they're full with ya. knowledge. no, no, please. no, no. i wasn't one of the while. we're not out of the so they'll be learned stuck with austonia. lou. denise dorthy, not barden, bottom moved, let him won't. it was not wilson, it does. his mom and dad's rounds

since yell goes, vw beetle and ma stock. although the taste of the v w fans have changed somewhat double drives the g t i g 60 edition one, a jewel and a gulf crone dating from 1990 and packing, 280 horse palace. most of has a d i y star custom edition to 21 year old has cerebral palsy and with his dad build something that was not easily available on the market. the gulf one cabrio with alta matic transmission dampier than w formula toilet they were done. no, that should be good for you. yeah, you're right, yolanda and i thought to me as by the ticket dish full, so did she cooper short finished much. they're both well. what are the one this took parents were suppose jelly went towards yet chowsky sunk on the what are the one is just a name? uneven ali because their phobia. ja knowledge. no. nope. is no good. i wasn't one of the fall. we're not on to the so i'll be learned that for those to live, do denise or the non bottom bottom moved. let him won't. it was not. so wilson does his mom and dad's rounds of my trip across cars

no mom, curse value and things have seen a very colorful development since yell coast vw beetle and musta. although the taste of the v w fans have changed somewhat double drives a g t i g 60 edition one, a jewel under gulf crone dating from 1990 and packing, 280 horse polish. most of has a d i. y stall accustom addition to 21 year old has cerebral policy and with his dad build something that was not easily available on the market. the gulf one cabrio with alta matic transmission nancy or m w a formula? oh boy, domain name of the that's what you think a flabby mean. yeah. you decide you want and i to talk to me whether people dish. oh, so it is. she could be shock clinician, much turbos from godaddy. one is too broad source phones jelly from a towards yet chowsky. sunk on the what are the one is just a name? uneven ali because their phobia. ja knowledge. no, no, please. no love was one of it for we're not out of the for the village that for those to live. do. denise dorthy? not barden. bottom moved. madame, won't it was not wilson. does this monopoly and dad's rounds of my trim cross kozia

no mom curse as well. yolk and things have seen a very colorful development since yonkers vw, beetle, and master. although the taste of the v w fans have changed somewhat double drives a g t i g 60 edition, one, a jewel and a gulf crone dating from 1990 and packing, 280 horse polish. most of them has a d. i y stall a custom addition to 21 year old has cerebral palsy and with his dad build something that was not easily available on the market. gulf one cabrio with alta matic transmission altogether w a warm. yep. oh boy, da him and they were done with that. i should think of levin. yeah, you're right. yolanda and i to to me is whether to keep dish also. dish recoup the short finish, much pebbles from what are the one this took roots were suppose jelly with georgia chowsky sunk on the what are the one is just a name a needed ali because they're full with ya. knowledge, no, no, no, no. i wasn't one of the while we're not out of the so i'll be loaded stuck with those to live duty mused or the non bottom bottom moved, lighter moved. it was not wilson, it does is my mom and dad's rounds of

the inflection point was argo the self-driving unit of ford and vw going down, that has made this cesore sober. people are looking at how can i make a profit today not tomorrow? caroline: sober, pragmatic, i'm not sure those will sum up the enthusiasm we will get from ed ludlow on the ground. don't forget thursday and friday full of energy bloomberg technology live from ces in las vegas. we will be chatting with so many leaders. you don't want to miss it. coming up, ai is all abuzz in sigel cavalli -- silicon valley. what are the best strategies to invest? this is bloomberg. ♪ the first time your sales reached 100k was also the first time you hit this note... ( screams in joy) save 20% with the lowest transaction fees and keep more of what you make. with a partner that always puts you first. godaddy. tools and support for every small business first. caroline: the u.s. government has seized or is in the process of seizing robinhood shares as part of the fraud case against sam bankman-fried. the shares have been claimed by various creditors who filed court cases to try to control them.

vw�*s brand chairman — thomas schafer — has been speaking to the bbc�*s jagdip cheema.ng crisis. first of all, this vehicle is special because it will round up special because it will round up our portfolio, it is a full—size where you have long—range about 700 kilometres and wl tv range so we can scale it and offer it on a price range that is very competitive. you want over half of your sales in the us to be electric ljy sales in the us to be electric by 2030. currently tesla holds two—thirds of the electric market in the us, how do you compete against that? electric mobility is _ compete against that? electric mobility is becoming _ compete against that? electric mobility is becoming more i compete against that? electricj mobility is becoming more and more mainstream, you can see that america has now reached the tipping point already with availability of models, you can see the market growing very strongly in the electric space and there is definitely more than enough room to grow and convert from combustion engines into electric vehicles so i'm not worried about that

vw had challenges with software.ou feel happy with talent, time lines were developing, the platforms in the work, talk to me about software. guest: we are absently happy, we hired 3000 additional software engineers, the company is very attractive. there were no issues attracting talent on the software side. we are establishing our own environment to -- operating system. it is chipped a cloud. -- to cloud. we will market in 2025, and the first e class you will have the first glance of what the operating system will look like. great suffer talent on board. as were able to -- software talent on board. we were able to show at cs, in terms of performance. ed: level 3 three, you have received the permit for nevada, california maybe this year? do you think it will happen? guest: we are hopeful it will happen soon, actually. the dmv of nevada approved our application, moving from level two to level 3, we call it the moon landing. the first time the responsibility is taken over by the vehicle itself and not by the driver. ed:

vw is going in big., mercedes, bmw and i know the cost is different but, keep in mind at the same time, this is what i'm really interested in hearing your perspective on, they have not really updated their models over the past 10 years. it is pretty much the same except for steering wheel and software changes. >> so our estimate for electric vehicles globally they will go from a little uneight million in annual units sold today to about 60 million in 2027. so we do expect other automakers to be part of that. that will not all be tesla. on a price per performance, you know what you're getting in terms of range, in terms of you know, 0 to 60 speed, all the nice features that tesla offers it is still really the best on the market. in terms of new model i'm really excited for march. they announced they will have and invest today. they talked about a new vehicle platform. i think platform will be custom built autonomous vehicle. liz: okay. >> we have heard they're estimating this will cost roughly the half co

the vw ceo talking about that, despite the fact that we are seeing tesla cutting prices in order to stokeand. let's wrap things up and talk about what is happening with the 52-week highs and lows we have seen. lvmh continuing the run that it has been on. lufthansa, continuing to see upgrades in the aviation sector. european engineering firms like safran, new 52-week highs being generated there. the european close coming around in about 10 minutes, and i will update you on that. before we do that, let's go back to the world economic forum. kicking off today. david westin -- we are hoping that larry summers will be there shortly. you are a fantastic person to talk to at the world economic forum today. the reason i say that, on friday, we saw a whole range of banks coming out with numbers. tuesday, we got the same thing. sandwiched in the middle, they are all coming to davos to talk to you. david: i'm not sure that they are coming to talk to me, but global wall street does come to here. larry summers is in the country, i'm not sure that he will make it for this hit. the real issues we are ta

currtleny 52 degesre in the city. 54 in oakld.an 52t apalo ao.lt niceie vw at thgoe lden geat thwi aew cudlos aroundut b stmoly blue skies. everyonetu sck itlm aost -- at moalst 54 degrees. 53 ativ lermore. the view fr tomhe rooftop camera lookg inacross t ehembarcade.ro mostly carle and chiyll ernight. sunny and dryom torrow. a light stmor leat wedneaysd. goodew ns for kstrien. dry and sun dnyays throh ugthe weekend. the forect asanimatiostn arting at 5:00 p.m.hi ts afternoon. mainly cle sarkiesve ornight. a few clouds inhe t early morninhog urs but inmaly sunny throh ugthe dayom torrow and eaclr into toromrow night. on wedneaysd, aew f clouds. wedndaesyve ening, this weak storm mosve thrghou and bring so lmeight raialnflve ornight into elyar thursda myorning. ybmae not evenve ornight. on this amanition, itoo lks like it will obeut by mniidght weesdnday night. rainfall talots will gerenally be light. ywanhere frombo aut .2nc ihes 200 a ha ilfnch -- tond uer a half-inch. it will cbehilly inhe t inland valls.ey wslo will bero aund 32 at santa rosa. d mito upper0' 'st athe south bay. a

companies are still out there, but the inflection point was argo, the self-driving unit of ford and vwown, that has made this ces far more sober. people are really looking at, you know, how can i make a profit today not tomorrow? caroline: sober. pragmatic. i'm not sure either of those things will sum up the enthusiasm we will get from ed ludlow on the ground in las vegas. keith, you set us up wonderfully. don't forget. thursday and friday full of energy bloomberg technology live from ces in las vegas. we will be chatting with so many leaders. dealt the ceo. siemens u.s. ceo in the qualcomm ceo. you don't want to miss it. meanwhile, coming up in the here and now, ai is all abuzz in silicon valley. what are the best strategies to invest? this is bloomberg. ♪ caroline: so, the u.s. government has seized or is in the process of seizing hundreds of millions of dollars worth of robinhood shares as part of the fraud case against sam bankman-fried. the ftx founder bought a steak last year. the shares have been claimed by various creditors of ftx who filed court cases to try to control them. t

vw has sent order book of 1.8 million vehicles that should bolster profit well into the middle of the year. tesco is the latest grocery chain to reveal higher costs for competition freezing profits. largest supermarkets has sales rose in the third quarter, but it cap profit guidance steady. that is assigned the pressures of keeping food costs is down in an inflationary environment. it is not yet easing. hsbc lost a bid to reverse a decision that it illegally rigged a benchmark. the top court rejected the british banks challenge of a european commission finding. three years ago, hsbc did win a procedural victory in a case that overturned millions of euros in eu fines. that is the latest flash. >> thank you. time for the last call. the european markets are closing. let's take a look at the stocks we are focusing on. ubisoft, the gaming company from france, down incredibly, down by 13% over a two day basis. we are down to a seven year low. here is an idea as to what is happening. they call this profit warning crushing. you have a downgrade of the company. they are delaying the skull and

was one time an estimate of over 800,000 piles of wood sitting in our forests , some as small as a vw bus, others as large as a hotel ballroom. it is stunning. >> reporter: clearing it out will require more creativity. >> what can we do with this inventory, if you will? can we turn into energy and heat? can we turn it into alternative biofuels? can we turn into boutique industries like tahoe slab? >> reporter: that's why they launched force features, multimillion dollar effort to invest in projects that build healthier for us and stimulate the local economy, by making the most of mother nature's trash. >> you cannot pick a better sector at this moment in california to engage and feel like you are making a difference. >> if we can turn into smoke and ash, or we can build a house out of it , i think building a house is a more meaningful thing for society. >> reporter: there working to expand their operation to an old sawmill, training people to do the work as they go. some of that stuff they are building is beautiful. >>> and investigation is underway into dozens of high schools that ma

some as small as a vw bus, others as large as a hotel ballroom. it is stunning. >> reporter: clearing it all out will require more creativity. >> what we do with this inventory? can we turn it into energy and heat? can we turn into alternative biofuels? can we turn into boutique industries like tahoe slab? >> reporter: they launched forest futures, multimillion dollar effort to invest in projects that build healthier forests, and stimulate the local economy , by making the most of mother nature's trash. >> you could not pick up better sector at this moment in california to engage in, and feel like you are really making a difference. >> if we can turn into smoke and ash, or we can build a house out of it , i think building a house is a more meaningful thing for society. >> there working to expand their operation to an old sawmill, training people to do the work as they go. >>> you are taking a close look at stories we are following this morning, starting with the president. >> many questions need to be answered. the commander-in-chie f was the dama

that's like my vw. eagle from this comes after california's recent plan. we all know about this. all vehicles sold in california. need to be hybrid or fully electric by 2035. of the electric vehicle sold in california last year. tesla was where the most popular. so everybody has those. but, you know, i was like less than half the price of that. so just like that. a major reform could help prevent future airline disruptions. the house is working on a bipartisan bill to upgrade the faa. notice to air missions or no tam system. and this comes after that computer air from the faa computer system that led to a nationwide ground stop the note ham improvement act creates a task force to monitor the system, keep it stable and offer solutions to improve it. and it would also try to prevent cyber attacks. this month's outage was not a cyber attack. they said that it was stem from of the stake during routine system maintenance. remember that it was as easy as somebody like a contract worker pushed elite getting. haha 6.27. we're going take a break. but coming up next on the kron, 4 morning

again and again and again, let me tell you what i've been hearing this momccarthy tell me today they vws pivotal because they say after mccarthy and his tea engaged in intense negotiations with the rebels who want changes to house rules essentially a weakened speakership after this it will become clear, they say, there's really not any more for mccarthy to give, so they say there will be another speaker vote, a seventh ballot. see how many more votes that gets him if any and then if that still is not enough, some tough choice also have to be made whether to risk a plurality vote changing the rules so it would only be a plurality necessary, no the a 218-vote majority calling the bluff of the rebels saying, you have a choice. it's either going to be mccarthy or democratic leader hakeem jeffries or to move on to another speaker candidate. mccarthy allies say today will determine whether house republicans are on a path to resolution or going to slip into a grinding battle of wits that can only be ended truly by mccarthy himself or, i suppose, if the remaining hold-outs break. now, cnn's cap

vw challenge them for a couple of years and they brought them back to sell more cars and anyone else. a huge market cap. the challenge is, they have not dove into the electric vehicle race in the way others have. like ford, and general motors. he has been criticized for that that he is dragging his feet. his point of view is he wants to sell all sorts of cars. internal combustion engine, hybrids, hydrogen powered. he describes it as an automotive the parent store where he has one of each. haidi: bloomberg's auto reporter keith, joining us from detroit. our other big story intel has given when the gloomiest quarterly forecast in its history. sending shares tumbling and turning back efforts. we have our senior technology analyst. the forecasted numbers, if you dig a little bit deeper, are really quite painful. what does this mean for the multiyear turnaround? >> some of it has to do with the environment we are in. we talk about the pc market being weak. the volumes are down almost 25 to 30% and we saw that from microsoft as well. their windows client revenue was almost down 39%. it is n

vw expects growth to accelerate after the first quarter as restrictions and supply chain problems easeo tinto's i an hour shipments rose 4% in the fourth quarter -- rio tinto's iron ore shipments rose 4% in the fourth quarter. it increased its copper output forecast and will report for your financial results in mid-february. investors on high alert at the bank of japan, beginning its highly anticipated meeting. we get a closer look at the expectations. this is bloomberg. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to 60% a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. hi, i'm jason and i've lost 202 pounds on golo. so the first time i ever seen a golo advertisement, i said, "yeah, whatev

. >> same with vw today. >> i think that -- i think farley from ford, he's not making any cars that they'll lose money on. he's not going to seed this area back -- he's trying to take share from us. he wants to beat his own numbers. he's going for personal best as opposed to personal against musk i think he's doing a good job. but at the same time the stock doesn't say so. >> no. these are important times. you can't -- the loyalty of a customer for a car for a model can last for decades you get somebody in your universe, not to mention your ecosystem. >> the f-150 has tremendous pull right through. there's no sign the order book has diminished they haven't ordered a book the way tesla has. ma look, the market doesn't like ford i think ford is a pitiful helpless giant >> we've long said by some measures the f-150 is worth more in enterprise value -- >> oh, my god, yes the super duty, the f 350, had to retired -- >> had to retire yours, why is that >> 2008, rusted out. my friend michael haley, the one i bought it for -- >> done. zblit's done. >> is that sad for you >> no, no. we got it used >

but for the rest of us, something to think about. >> i have an old vw van and a scooter.ut to denmark, not because of that are huge involvement, but last year there was not one bank robbery in denmark. think about that. the entire country, not one bank robbery. this is not just a personal thing where i kind of like to salute denmark, it's really happening. denmark is the place to be. it's also one of the happiest countries on the planet. >> so, donny, krispy kreme, i would argue, should always be brandup, but why'd it make the list this time? >> this is huge news for all of us. they are now going to have a 200 calorie donut. the average donut is 450 calories. there's a lemon, there's a berry. 200 calories. load up, no reason to put your krispy kremes away now. you can get them and keep -- still keep that slim waistline. >> second one in a row that pertains to mike barnicle, ballroom dancing is also in there. >> mike and ann are big ballroom dancers at home. ballroom dancing seems to fight off actually the -- just the image of mike barnicle ballroom dancing. i can't get th

then had that scandal, that vw styling scandal in 2015 and diesel went from being as more environmentallys left with diesel cars, didn't we? electric is 16.6% of new car sales in 2022. more stephen than diesel. for the first time ever, really rising ahead of diesel as diesel fell . and then you've got fell. and then you've got hybnds fell. and then you've got hybrids , 11.6% of all new cars . hybrids, 11.6% of all new cars. an eagle eyed viewers and listeners will know that doesn't add up to 100 the others are things like plug in hybrids. the hybnds things like plug in hybrids. the hybrids that are electric but also have a petrol engine and then a battery on board and the petrol engine kind of tops up. the battery , if you like. so the battery, if you like. so lots and lots of different variants and i think new car sales will increase not just because pent up demand but because of pent up demand but also because as were saying in the in the last hour and we're approaching that 2030 deadline, which the government says happen and labour says will happen, we'll see. but when sales of petrol