wall street central -- weed. wi.all street scrambling right now and have you made any adjustments on your own work. >> focus on fixed income markets than anything else. what's been surprising to me is in the face of this rally in the market and it seems to be broadening out in the last couple of weeks. two or three weeks ago we were talking about it being all ai tech driven stocks is we're seeing higher interest rates along the same lines. we're seeing the market price in a nearly 80% chance the fed raises rates in the july meeting and at the same time hearing a lot of strategists say the fed is on hold and they're done and stopped at the last meeting and someone should tell the bond market they're doing the opposite of that. that's not uncommon to see the bond market in the stock market. >> a different potential conclusion. charles: yields have gone back up and not demonstratively and as much equity as they're up. >> that's true but they're up a lot from the early may lows and what the bond market is trying to tell

and wall street, of course. — result. and wall street, of course, something - result.- course, something that previous president donald trump always claimed if wall street was doing well, that was just, you know, to show what a great president he was. just how will wall street play a factor in all of this in its performance? what are we looking at in the months ahead? 50 what are we looking at in the months ahead?— what are we looking at in the months ahead? so i do do think there's a few — months ahead? so i do do think there's a few things _ months ahead? so i do do think there's a few things that - there's a few things that households do pay a lot of attention to and can drive confidence and can drive almost this feeling of being better off. some things are quite simple — the price of fuel is quite closely linked with consumer confidence. so fuel prices are then people feel a bit manufacture optimistic, they got a bit more money in their pocket and vice i think wall street plays a part. if you're hearing we're in bear market, that will give people the feeling the ec

like any other ceo on wall street, they're scared of disappointing wall street. run a private company. i'm not scared of disappointing wall street because i run a private company. but ceos that run public companies are scared to disappoint wall street because if you're off by a penny, guess what? you're going to be trashed. maria: well, maybe. but, john, let's face it, a year ago inflation at the cpi level was all the way up to 9.1%. we're down to 4%, okay in it's time to cut prices because they're coming down on the consumer level and the input level, and yet at the grocery level at the cash register people aren't feeling it. now they want to blame people like you and the heads of these grocery stores for keeping prices elevated. is this about greed? >> absolutely not. it's not the grocery stores. it's not the supermarkets. we reflect the prices that we buy it from the manufacturers. it's the manufacturers, it's the procter & gambles of the world -- maria: okay. >> they're the ones that set the pace. we, with we make our normal margin. we make our normal margin

a - at the wall street journal asked a question— at the wall street journal asked a question of— aton of the prime minister. —— what you _ question of the prime minister. —— what you said _ question of the prime minister. —— what you said briefly. _ question of the prime minister. —— what you said briefly. since - question of the prime minister. —— what you said briefly. since then, i what you said briefly. since then, she has— what you said briefly. since then, she has been— what you said briefly. since then, she has been subjected _ what you said briefly. since then, she has been subjected to- what you said briefly. since then, | she has been subjected to intense online _ she has been subjected to intense online harassment _ she has been subjected to intense online harassment from _ she has been subjected to intense online harassment from people i she has been subjected to intense - online harassment from people inside will stop— online harassment from people inside will stop some — online harassment from people inside will stop some of— online harassment from people inside will s

brooke allen the title of your wall street journal editorial. our op ed was college should be more like prison. was that your title was definitely not title and i got a certain amount of flack it but you know the editorial writers editors they want people to they want eyes on page and i think they succeeded really well that and there certainly are aspects of the college that i wish could be like the prison i wish it were more and were more tolerant, wish it were more peaceful. i wish there were no poems and computers in the classroom. there's so many things i'd like to see, similar to what the kind of class have in the prison. brooke allen former bennington college professor who works on that institution's prison education initiative. we appreciate your time on

let's look at today's wall street beach.e how the other banks will be doing in certain businesses but last quarter to this quarter, investment banking is under pressure and jeffries and everywhere else but jeffries had a big boost from trading, particular income trading. it may be trip -- pressured for the big bang for jeffries will give a sense of him at rest are there is. the other interesting thing is they've been hiring pretty aggressively. they've expanded in asia and the united states and higher for many european banks in particular, particular credit suisse but also barclays. how does that impact profitability and the long term when they are still bringing people on when other businesses are under pressure? guy: is everybody convinced trading is going to decline the second half of the year? the deutsche bank ceo said he thought it would not. got them up -- he thought the volatility would continue. sonali:fic is a large business, fixed income commodities are different banks perform differently in that regard. with gold

charles: listen, you're part of this rally that most of wall street has missed.hen you mention quality bonds i'm using tlt like again when folks like quality stocks i don't know what the hell that means. what the hell is a quality bond? does this qualify, government bonds qualify? >> i say government bonds qualify as quality. when you talk about tlt that is 20 plus duration. you're looking really, really far out on duration expectation. municipal bonds, government bonds, absolutely have a place in a portfolio. charles: sarah, great. >> i know, i can't believe it either. good to be here. charles: speaking of in studio, folks we're hosting a special edition of "making money," maine takenning unstoppable prosperity. on july 27. of course 2:00 p.m. i will share many lessons i learned throughout my 35 year history on the street. i will take your questions a well. come to studio and new york. get here before they get rid of the pizza joints. event bright .com. such for fox business, send your questions to me, investedinyou@fox.com. coming up our state of education syst

we did see a rally on wall street fueled by strength in the u.s.ce and suggestions they are closer to a soft landing down a hard one for the u.s. economy. we are watching the aussie dollar, a little bit of softness under the 67 u.s. dollar mark. we are seeing futures whether you talk about japan here in australia and also hong kong on the rise. we are also watching for some outperformance when it comes to chinese equities today. after that index of chinese stocks climbed the most in three weeks. it does underscore that uncertainty as to whether the resilient data will persuade the fed to go further when it comes to tightening, we did see that drop in treasuries. yields have been pushed higher, at the same time of course, that revival when it comes to risk growth and tech as well. we will be watching for some of those tech data, cyber, and ai-related stocks as well. we are watching some of the chipmakers in the after hours. a potentially new chip export curb would take some of the momentum we have seen in this rally -- take away some of the momentum

the tea party and occupy wall street draw from a lot of the same anger. wall street is responsible for the economic crisis, and they're asking people like me to pay for it. the occupiers were calling into question capitalism. they wanted to break up the banks, they wanted to jail the bank executives that had given us a global financial recession. your company is now bankrupt, our economy is in a state of crisis, but you get to keep 480 million dollars. is this fair? [crowd] the whole world is watching! the whole world is watching! [douglas] they were not particularly happy with the terms of the bailout. part of what's driven us to this point is inequality, increasing inequality, the rich getting richer. now the rich have brought us to this perilous place. and we're bailing them out. occupy wall street was actually launched in 2011 by a site called adbusters. it calls for people to meet at zuccotti park, which is outside wall street in new york city. [crowd] occupy wall street! [bigad] protestors call themselves the 99%. frustrated over economic inequality

wall street expects earnings to go through the roof.o you think that's right? because most wall street folks who come on this show kiss agree with that the even though -- disagree with that even thoughs the wall street consensus. >> well, there's a lot of things going on there with respect to earnings. there's generally the view that the earnings season was positive to the extent that the declines were not as bad as expected. so you have to think about it from that perspective. but if you're looking, for example, the new york fed general business activity survey, that has completely rolled over. some of the data from chicago fed is also looking pretty ugly. a lot of that leads, charles, right into earnings perhaps in the back part of '23 and into 2024. i think we're going to be heading lower in s&p earnings. the solace that i find with respect to that is it's the not really going to the surprise people when i say it. maybe the sobriety is already kind of baking in for four or five quarters at this point. but, yeah, i don't know about th

wall street would not stand for it. and wall street knew that biden would be a willing player with the chinese, correct? correct. and let's face it, too, most republicans are. >> all right. and. great to see you in studio. it's always in the devil box. thanks so much for coming in. and what has this blm grifter mindset actually done to a once great american cities? as i said, it destroyed them. criminals walk into stores taking whatever they want. it's right. >> after all, it's consumer reparations. some say. >> well, what's worse is our society is allowing this some say even encouraging it. monsters are assaulting, robbing, even now in broad daylight. >> sounded like a repetitive. >> boom, boom, boom, boom. when officers arrived, they found two gunshot victims, a 37 year old man and a 34 year old pregnant woman inside this tesla. >> and the ultimate grift is that these cities are now full of squatters and it's getting dangerous. my next guest is an l.a. based residential developer, and he says that for the last few yea

>> the tea party and occupy wall street draw from a lot of the same anger. >> wall street is responsibleor the economic crisis, and they're asking people like me to pay for it. >> but occupiers were calling into question capitalism. they wanted to break up the banks. they wanted to jail the banking executives that had given us the global recession. >> your bank is bankrupt. our economy is in a state of crisis, but you get to keep $480 million. is this fair? >> the world world is watching! >> they were not particularly happy with the terms of the bailout. part of what has driven us to this point is inequality increasing inequality, the rich getting richer. now the rich have brought us to this perilous place, and we're bailing them out. >> occupy wall street was actually launched in 2011 by a site calleded abusters. it calls for people to meet at zuccotti park which is outside wall street in new york city. >> protesters call themselves the 99%. frustrated over economic inequality and what they describe as corporate greed amid the country's richest 1%. >> we're trying to provide shelter for

the wall street journal has been reporting that the u.s.idering new curves on ai chip exports to china. we will be watching samsung, given that we have seen downside in the likes of amd and nvidia. where watching asian energy suppliers, their struggling to shake off fears that there are higher demands of crude in light of the better data from the u.s., feeling expectations of more tightening from the fed. coming up, bnp para bout explains why they are more -- bnp paribas explains why they are expecting. market opens in sydney, seoul and tokyo, next. this is bloomberg. ♪ it's an amazing thing when you show generosity of spirit to someone. and you want people to be saved and to have a better life, then you don't stop. we have been able to reach over 100 million people impacted and affected, and at risk of hiv. the rocket fund takes all of the work that we're doing, all over the world, and looks at the most effective ways, to get resources to them, to get services to them. the idea that we have saved five million people's lives, it's overwhelm

>> i think the wall street take mostly matches our own which is the fed will still go ahead and pausene. i think that's because they are also reading in the week household employment data. if wall street actually took this report is superstrong, they would be pricing in more rate hikes and i think stockmarket would have fallen rather than increased today. over all, our read is similar to what many people are thinking. matt: thank you so much for joining us. let's talk about the impact now on the economy of private markets with craig packer from blue owl capital who oversee $144 billion in assets and sonali basak. let me ask you about what private credit can do if we see a contraction in credit from the banks? does private credit pick up where the banks have left off? >> thanks for having me today. what we do is primarily finance companies being acquired by private equity firms. and not small businesses. if you see contraction in conditions for small businesses that could create some opportunities for us but that wasn't where we were competing in the market before. we like figure compa

leading the charge worth noting, we saw the european market underperform wall street. the stoxx 600 retreated .50% while you had gains stateside. a catch-up trade taking place in europe this morning as we brace for a big week on the central bank front with the federal reserve meeting and ecb meeting on thursday. the market is expecting another rate hike and bank of japan on friday on that note, look at the asian markets. a mixed picture. shanghai retreat slightly overnight. hang seng and hong kong slightly higher nikkei at 0.5% with the bank of japan meeting this week. frank. >> julianna, you are following big news from switzerland? >> we are. this story has taken twists and turns over the years it is finally entering the taken al stage -- entering the final stage. ubs finally closing the deal with credit suisse nearly two dozen red lines prohibiting activities for credit suisse staffers and a ban on clients from high-risk countries. this is a big story that is coming to a close, it would seem there is concern around the culture and importing the credit suisse culture

it is something wall street doesn't consider when it comes to tesla. as you watch tonight you can decide. we think of value and the ceo is about to change the culture that the company can make money in any environment. that is what i see happening, bottom line. ford stock to get back to its high where it was in january 2022. if i am wrong i think the downside, i am calling it minimal. investing is all about managing risk and reward. at these prices i take ford over tesla any day. believe me i like them both. let's take some questions. >> hello, my name is elizabeth. great to be here. i work here at the michigan sme plant as the environmental engineer. i am really excited and proud of the products that we make. my question is given our current climate how would you invest $1000? >> i am a very conservative person. if you me $1000 it will go in an index fund. i am someone who wants the versa vacation on the first $10,000. i know that it is boring, that i do not want to encourage too much speculation. thank you. i wish that i could be more excited, but th

i visited oklahoma to say that what happened on wall street -- on black wall street was not a riot.t was a race massacre. from the bridge of soma in front of the graduating class at howard, we prayed, we marched, we celebrated, and here at the white house, when black athletes continue the legacy of social activism and advocacy. i signed a law hundred years in the making to make lynching a federal hate crime and hosted the first screening of a film 100 years after "the birth of a nation" was screened in the same room. our message is we have to move forward together. when we choose to protect the freedoms we all deserve, when they are attacked, that is when we cannot be made silent. silence is complicity. to heal the wounds of divisions of racism no longer tears us apart, we have to choose to believe, be doers. as the gospel song goes, we have come too far from where we started. nobody told me the road would be easy. i don't believe he brought me this far to listen. [cheers and applause] my fellow americans, i don't believe the good lord brought us this far to leave us behind. we just

that's according to "the wall street journal" tonight.tee chairman ron wyden opened a wide ranging investigation into that agreement. there appears to be a symbolic battle brewing between house republicans and the biden administration. it stems over allegations, accusations the white house violated u.s. flag code while hosting a pride event at the white house. senior congressional correspondent chad pergram has the story from capitol hill. >> i pledge allegiance to the flag. >> a flap over flags. republican kansas city roger marshall introduced legislation to bar government buildings from flying anything besides the american flag with few exceptions. >> we certainly don't think that the pride flag deserves a prominent location in place of old glory. no american died or fought for the pride flag. >> republicans criticizing the white house for draping the pride flag over the truman balcony alongside the u.s. flag. they say displaying it more prominently and at the same level as the american flag. >> men and women have died for that flag. it

nymex guest says wall street is not following the old script. should you follow wall street or the old script? adam kobiessi is here next. ♪. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. ♪ ♪ ♪ ♪ ♪ i've spent centuries evolving with the world. that's the nature of being the economy. observing investors choose assets to balance risk and reward. with one element securing portfolios, time after time. gold. agile and liquid. a proven protector. an ever-evolving enabler of bold decisions. an asset more relevant than ever before. gold. your strategic advantage. starting a new chapter can be the most thrilling thing in the world. there's an abundance of reasons to get started. how far we take an idea is a question of willpower. because progress... is a matter of character. first, there's an idea and you do something about it for the firs

these are from wall street analysts but almost every guess, 95% of wall street think this is bunk. they say this is not going to happen. you think it will? >> look, i think it will for a couple reasons. first of all a lot of these estimates are already derisked. if you pulled up the same chart three or six months ago they look a lot higher and the analyst revisions have been cut down a lot. in a typical recession earnings get revised down by 13%. guess what we've revised them down by 10% already. so i think they are derisked. the second thing is a lot of the economists were looking for gdp to flatline this year. we just got the thank you new new estimate for the gdp 1.8%. that's growing, not flatlining and last thing charles companies have cut costs. they are maintaining their margins. charles: that's one thing. companies hire ceo's to do things like that. this is what every time we have this earnings things, estimates are too high, too high, too high , earnings season comes 85% of companies beat it of course this is what we hire these companies to do. one thing before i let you go

>> yeah, wall street gets overly excited about things and wall street loves acronyms and looking at bricks, india, china. they did not pan out and to your point looking at worship god's largest population and that's 1 -- world's largest population, 1.4 billion and about 40% of them are under the age of 25 so it's a country that's not going to have sewage social services cost for aging population. that bodes well for it and india has been in a year's long effort to have a national identity program for it is population. years ago you'd look at india and a third of the population didn't have a birth certificate and 60% didn't have bank accounts and now people are starting to access financial services and infrastructures and transportation improve and broad band internet access improve, and in a more affordable way so this is going to be a growing economy. i'm not saying that this is going to knot knock it out of the moon or anything like that because wall street gets too excited but you don't want to ignore this population. jack: interest that you think banks is a opportunity in india. >> abs

let's just say for the stock however, i think wall street's reaction to the news was i'm going to sayednesday, dragging the entire industry lower more importantly, humana has been a disaster and total negative pin action. the stuck plummeted more than 11% on wednesday then tumbled another 4% today. brutal just absolutely brutal i said i knew i would be crushed at our morning meeting did i know it would be this crushed? maybe. why is humana getting hit harder than unh well, because they said it was a problem with medicare advantage patients and they get a much larger percentage of people which represents around 78% of the business still, we need to find out how much exposure they have. are they seeing the same trends at unh initially, humana was quiet on tuesday. they had a full board meeting that day and did not respond to inquiries but this morning, they broke their silence by filing an 8k a public document. where management previewed some of the management through a series of meetings we'll be speaking to large scale investors. what can be learned from that? first on a positive note

you know, a small office this wall street -- in wall street, that got a designation that everybody wantedt, ftx, sam bankman-fried was trying to get it. and that's the sort of sec prim tour on being a crypto broker-dealer where you can essentially trade crypto. that's legal. so you could probably trade bitcoin. you'd have to trade stuff that's registered as a security. i don't think there are any -- there may be some obtuse things that are registered as a security, but there's not a lot. but anyway, getting that designation is the sort of first step towards this being sec-compliant as a crypto exchange. again, everybody wanted it, they got it. and here's what's interesting, when you start unpacking the firm, it's very small, it's -- one of its underwriters is a company that is multiple sec violations. if you go back, i did all the research are, trust me. promete yum has no comment, i poke to -- network one, i believe, is operated, i checked the address, maybe i'm wrong. if i'm wrong, guys, call me back, a mall in red hook, in red rebank, new jersey, okay? -- red bank. liz: a mall in red b

francis mcdonald, paul hickey, are down a walk on wall street. they have all huge short positions. what i'm looking next for, the big short squeeze. it is options euphoria, folks. traders are out there piling into option bets. before you take the plunge i have two of the very best. jessica inskip, jon najarian on the show. sarah kuntz is here to help us with that. pickle ball sensation, what is with all the new sports can i invent one? all that and much more on "making money." >> what goes up must come down spinning wheel got to do round ♪ charles: ride a painted pony. what is a painted pony? these days the biggest game on wall street, waiting, waiting for the tech stocks to come crashing down to earth. of course that will teach the tech speculators an overdue lesson. with all respect to the music group blood, sweat and tears, what always goes up doesn't have to come down. inspired by an economist who dismissed notions of stock bubble. a stock bubble, irrational strong price move to the upside that imply as predictable strong move to the downside. he actually called the idea treach

people on wall street. thank you. >> dana: is it just people on wall street?se $2 trillion for these taxes on wall street in the next ten years. where does that money come from? it comes out ultimately of the shareholder value. it doesn't come out of the sky. so yes, it hurts. it also hurts capital allocation, the whole thing. over 100 million americans are involved in the stock market one way or the other. he can't pretend it is just wall street on one side and everyone else on the other. you have all the people on the other are the ones who have the assets depending on the assets for retirement and other expenses. >> bill: instead of relying on congress you followed the story for decades. the endowments that some of america's greatest colleges are extraordinary. why can't the schools be the advocates for those who need the money that don't bury people in student debt for years? >> dana: wayne university did that this week. >> some of the larger colleges like princeton and others don't have student loans so you aren't burdened when you leave the institution.

annabelle, this is coming from wall street's -- one of the most bearish strategists in wall street.le: he put out a call for the s&p 500 ending at 3900 by december. we are well at those levels at this time. he does see it reversing heading into next year, around 4200. that he is very bearish on the outlook. essentially what is driving that, he says quite simply the risks are outweighing the benefits of entering into stocks at these levels. he is saying that we could be facing a major correction and that could be due upon markets. let's talk about what is driving that. some of it comes down to his outlook for, because again, morgan stanley is much more bearish than the consensus. because when you look at the forward eps, it is still around the 220 mark. he is subject to hundred, well below those levels. he is also concerned around iniquity risk and also what the central bank, the fed does as well. shery: given what the fed is doing and what the boj is doing at the same time, what about the outlook for the yen? annabelle: -- essentially, that has really been the key driver of the yen

a feel for what's in your past you to be one of the well-known conservative commentators of the wall street journal and what your influences were forgetting their? >> well, i enjoyed the college newspaper back in the early 1990s when i was in school at that sort of is where i the political blog. i discovered writers, thinkers, intellectual, skoal, shelby steele and glenn lowery and they had a huge impact on my intellectual development on my thinking about race in particular as well as economics and politics and other issues. that's where i start i interned at usa today in college about six months after graduation i enjoyed the wall street journal i've been praying for that newspaper ever since. >> so jason, i think many viewers and readers of the wall street journal were kind of impressed with the journal janitorial page separating the issues of some people talking about trump's personality from the issues of the trump policies. can you give us a little bit before we get into the substance of the book can you give us insight behind the scenes sort of how that emerged? >> i think what you sa

and so there's now a debate on wall street should we care?other words, you know, why is it so distinguished, why should it not be indistinguishable from everything? just lump it in with the rest of the assets to consider what you were talking about, consumer psyche, where we to go from here. we know they've been drawing down on it, but the overall savings rate has gone back up. >> yeah. so this excess savings is apparently lessening. if you take overall what you think spending and saving should be and then whatevers the above it, that's the excess. it has been coming off. it's probably going to be gone by the end of fall, and so the key thing -- charles: but, see, that was one of the arguments that, you know, even the craziest spender out there is not going to spend the very last drop of that, right? we're going to get to a point where, okay, you know, my stack was like this, now it's like this. let me cool out. >> well, i think people will. the key thing though is that that people are using credit cards, and when you buy a service, you're no

terrible i think wall street misunderstands caterpillar these days people see it as an old-fashioned into businesses that are less hostage to the global economy, especially china i bet cat won't even be able to meet demand for its products next year because there will be so many on spending for the infrastructure we realize the debt default is off the table. buff everybody thinks it's a china play yet china represents less than 5% of cat's business i think the real reasons take root soon because the bears will come right back if we don't catch an upgrade or two with more of a rigorous analysis about what cat is doing in this country. the stock's 1.84 loss today made me feel positive about last week's move. that's not all that much of a profit-taking for an 8.4% gain third, dow, the old dow chemical benefitted from the china stimulus package so many chemicals have been price set by the chinese market given the chinese about 50% of them dow's policies to make in china for china, which means they can get a real boost from this housing stimulus plan if it works. it doesn't hurt that dow'

taking a quick look at how wall street closed on friday. and opening up here in asia.t its monetary policies unchanged on friday, and it's following wall street's lead, which is slightly down again after the us that announced that it was going to keep its rates straight, just a little while longer, we think but before we 90, longer, we think but before we go, remainderthat longer, we think but before we go, remainder that wall street will be closed today because of the will be closed today, because ofjuneteenth. that's a federal holiday marking the emancipation of enslaved african americans. and that's it for this edition of asia business report. thanks for watching. it was the tuesday after the king's coronation. it soon started to pour into her home. letting the downstairs. but for repairs to take place there, having to move out for at least six months. we've all had our moments of being very emotional and upset. opposite caroline, alice runs her own catering company. her kitchen was completely flooded, and the cost to her business has been severe. we chose not to cl

cost cutting helps surpass the numbers that you set on wall street.e selling prices for used cars fell 5.5% in the quarter so now you're looking at on average ability $27,000. stuart: but it was used car prices that spiked and lead to a spike in inflation. now those prices are coming down lauren: i was in the middle of all of that i remember car shopping that was not fun. stuart: i'm sure it was not but you see the bottom right hand corner of your screen? we're five minutes into the trading session and we're down 250 points for the dow industrials three-quarters of 1% so if you check the big board you're back to 33, 700 and the dow winners i believe there are some dow winners yeah, there are, 3m, verizon, united health, walmart, proctor and gamble on the upsidel are some dow winners a lot of losers as well, the s&p 500 where are the winners there? topping that list, we have car max, we just reported that, nrg 3m is on the list, crown castle international on the list. not many winners though. the nasdaq composite topped by amazon doing well, mark mahan

many are captured by wall street and silicon valley. we need citizens who become politicians, concerned about the plight and predicament of the vulnerable ones. i came out of my position at shiloh baptist church [indiscernible] i look at the world through the eyes of the least of these. host: dr. president biden. you said he is -- back to president biden. he said he is a hypocrite. where else do you think the president's policies have been hypocritical? guest: he promised -- and would not push it. he promised $15 minimum wage and would not fight for it. he promised voting rights and he would not touch it or make a deal with manchin. that is our conservative brother down in west virginia. when it came to the debt ceiling agreement, what happened? cut back on the poor, expand military and make the deal with manchin. that is one of the few times it seems to me that not just biden but the democratic party as a whole -- as you know, i was very close with bernie sanders. he was not treated justly. he was not treated right. the democratic part

we begin with a new and disturbing report from "the wall street journal". the role of big tech on protecting our children online i couldn't believe what i read. the journal reports that instagram has been connecting and promoting a vast network of pedophilia. researchers within "the wall street journal" investigation found the flat form enabled users to search for hash tags and recommended accounts to related to buying and selling child sex material. one shocking example was a hash tag involving preteen sex. sensorineural spite the platform's algorithms promoting this type of content o other users, it's unclear how this slipped under the nose of meta and ceo mark zuckerberg. meta is responding to "the wall street journal" findings saying "between 2020 and 2022, these teams dismantled 27 abusive networks in a january 2023, we disabled more than 490,000 accounts for violating our child safety policies. emily, you and i were on this couch when there was another explosive wall street journal report about effect of instagram and social media on teens. i'll never

we will see some of the wall street talent find its way over to that side of the business.att: thanks very much. allison williams. she runs our banks covers globally for bloomberg intelligence. great to get time with you. i will go over now to zurich to talk more about this story. i will reset it for viewers joining us now. ubs is repairing to cut more than half the credit suisse workforce starting next month. that is on the job cuts are expected to happen. marion hollister meyer wrote this story. she joins us now on the phone. what do we know in terms of the numbers? the grand total of employees at ubs now combined with credit suisse is about 120,000, and some 45,000 come from credit suisse. marion: that's correct. we are looking at 120,000 combined workforce with 45,000 from credit suisse. they had lost a number of bankers since the merger announcement in march. overall, we were expecting big numbers. as we have learned, we are looking at about 30% of that total headcount, which equates to 35,000 people. the bulk of that coming from credit suisse staff, the inherited staf

many notes out from wall street firms said, yeah, maybe one more only citi had two. gunlock said they're done also can we listen to that? >> i don't think the fed is going to raise rates again i think jay powell realizes we're at aturning point on the inflation situation and economy. yet, there are people dedicated to lagging indicators like unemployment, labor market and looking at core cpi. it lags. >> the point here is that they're done, they're not going to hike. doesn't matter what they say that's what the market is saying today. has to be, right >> i saw that interview live with jeffrey and agree with what he said. the bull case right now is that inflation has come down in a pretty linear fashion. you could say it's less than half of what it was at its peak in june. that's a good thing. you could also say, yes, but it's still twice what the target is, which means the job is not done you have to then ask yourself, even if they're done hiking, if you believe we're in this higher for longer regime, if we sit above 5% fed fund rate, can capital sustain that can bus

you just heard "the wall street journal" reporting what we were all talking about.ious if you think this is intelligence trying to get into putin's head or if this is a possibility that there will be a much larger revolt here that just fell away? >> i think it's a little bit of both. i think "the wall street general" certainly tracks and we know shoigu was in the city of rostov and he fled hours before prigozhin's troops got there, but this was such a hair brained scheme from the start. even if prigozhin had succeeded and even if he had taken defense minister shoigu and chief of general staff garerasimov, and don't think putin would have fallen for that blackmail and i don't think it would have changed anything. >> i'm curious what you think about what will happen to prigozhin and anyone else that the fsb or that, you know, putin's close corners decide were involved in this? >> i think prigozhin is a very precarious situation. yes, he's exiled to belarus, and yes, putin promised him amnesty and the key thing is that the amnesty was for the mutiny and there are other

it doesn't make sense but for you, it was a focus for much of your career on wall street. we see in that group, netflix rising on a surprise in terms of additions? paul: they are cracking down on this password sharing which is a big deal and it could be 100 million accounts that are sharing and you convert some of those that are sharing and you will get some of this some of the sweeney offspring sharing my account, that could be a big source of new subscribers. over the past few days, they added 70,000 subscribers on average per day which is huge. that is all incremental revenue for them and that's big for this company because their subscriber growth which had been driving the growth of the company was played out in many parts of the world. jon: all of these technology companies whether it's netflix with a password crackdown or a lot of cost-cutting measures from many companies you cover in bloomberg technology, i would imagine this internally can influence culture and the mood. stockmarkets mood has been euphoric but how are these companies navigating this new landscape o