35 Burst results for "Bloomberg Businessweek"

Tesla to Enact 5-for-1 Stock Split

Bloomberg Businessweek

00:20 sec | 1 d ago

Tesla to Enact 5-for-1 Stock Split

"Out of it. Walter, California headquarters for Tesla's. The Electric car maker has approved and declared a 5 to 1 split of common stock in the form of a stock dividend to make stock ownership more accessible, the company says to employees and investors, Tesla's shares up by roughly 3% after hours after announcing that five for one split turned out to be a down

Tesla Walter California
Twitch Prime is now called Prime Gaming, Tim Cook hits billionaire status with Apple nearing $2 trillion

Bloomberg Businessweek

00:28 sec | 2 d ago

Twitch Prime is now called Prime Gaming, Tim Cook hits billionaire status with Apple nearing $2 trillion

"Is making it easier for prime subscribers to play games, its latest effort to keep them engaged. It's prime twitch services now called prime gaining it offer special in game perks and free downloadable PC games. With apples value nearing $2 trillion. CEO Tim Cook has seen his net worth top a $1,000,000,000. The Bloomberg Billionaires Index also finds he's one of the few billionaire CEOs who didn't found the companies they run.

Tim Cook CEO
Trump says he will give convention speech at White House or Gettysburg, decision coming 'soon'

Bloomberg Businessweek

00:21 sec | 2 d ago

Trump says he will give convention speech at White House or Gettysburg, decision coming 'soon'

"Own Gettysburg address at the GOP convention today, he tweeted he'll be delivering his nomination speech from either Gettysburg or the White House. Says he'll announce his decision soon. His acceptance speech and the convention was originally set to be held in Charlotte, North Carolina, moved to Jacksonville, Florida and then move largely online. Democrats say their

GOP White House North Carolina Charlotte Jacksonville Florida
Cuomo will allow New York schools to reopen

Bloomberg Businessweek

00:16 sec | 4 d ago

Cuomo will allow New York schools to reopen

"Finally gave New York City the green light to reopen schools in September. But one part of the plan for in person learning is still very much up in the year and that is extra space for socially distant schooling and for child care, a report in the city suggests. The hunt is still on global news, 24

New York City
Biden: 'Racism against Latinos' is 'baked into' Trump presidency

Bloomberg Businessweek

00:27 sec | 6 d ago

Biden: 'Racism against Latinos' is 'baked into' Trump presidency

"From Ohio today. Here's how Joe Biden is sounding today. I started the moment he announced his presence, fanning the flames of fear and racism against Latinos. It's baked into every aspect of how he's governed. And meantime, President Trump was supposed to meet with Ohio Governor Mike DeWine. But that meeting was called off because the wine has just tested positive for covert 19 Global news

Joe Biden Ohio Mike Dewine Donald Trump President Trump Global News
Black-Owned Businesses Hit Especially Hard by Coronavirus Pandemic, Study Finds

Bloomberg Businessweek

00:29 sec | Last week

Black-Owned Businesses Hit Especially Hard by Coronavirus Pandemic, Study Finds

"Reserve study warns the pandemic poses a grave risk the black owned small businesses across the United States on with that story, Here's Bloomberg's Vinny Del Giudice. The data compiled by the New York Fed Showa, 41% drop in the number of small business owners who are black. That's twice the number of total small businesses. Recent include concentration of black businesses and pandemic hot spots and the uneven reach of government aid in the early days of the crisis, many down to die Spielberg radio

Vinny Del Giudice New York Fed Showa Bloomberg United States Spielberg
Trump slams passage of Nevada bill to mail voters ballots

Bloomberg Businessweek

00:26 sec | Last week

Trump slams passage of Nevada bill to mail voters ballots

"Another state is adopting mail in elections for November, Nevada's legislature has passed a bill that calls for mailing ballots to all active voters due to the Corona virus pandemic. Governor Steve Cecil AC is expected to sign it into law President Trump tweeted today that the bill's passage is in a legal late night coup the acute he's accusing Cecil lack of exploiting covert 19 to ensure votes in the state would favor Democrats. Aloma

Governor Steve Cecil Ac President Trump Nevada
Nationwide salmonella outbreak linked to red onions

Bloomberg Businessweek

00:22 sec | Last week

Nationwide salmonella outbreak linked to red onions

"Food and Drug Administration report issued Friday says red onions from a California supplier may have caused a nationwide salmonella outbreak that sickened nearly 400 people in 31 states. The FDA identified Thompson International of Bakersfield as the likely source of potentially contaminated red onions. All of those red onions and more have been recalled by the company, New York reported some of those infections.

FDA Thompson International Of Bake Salmonella New York California
Nearly Every Small Business Reinvented Itself During Pandemic

Bloomberg Businessweek

00:34 sec | Last week

Nearly Every Small Business Reinvented Itself During Pandemic

"There, and they asked him what his strategy is right now. It's a very tough time for everyone, and particularly for degree in economy. We invested a lot of technology companies. Better work with his small businesses like restaurants or make farmers under in this time what we're trying to do one. What our companies trying to do is actually be the year for this small businesses and see if there is a way in which technology can help them Bridge this very difficult time at the Emmys. They're concerned that actually, these businesses won't be able to pay you for the services. I think this is a time in

Florida Teenager Is Charged as ‘Mastermind’ of Twitter Hack

Bloomberg Businessweek

00:25 sec | Last week

Florida Teenager Is Charged as ‘Mastermind’ of Twitter Hack

"Old Graham Ivan Clark faced 30 felony charges for hacking those Twitter accounts of users, including Barack Obama, Jeff Bezos and Elon Musk. State authorities charged Clark as an adult under Florida law, rather than federal because Florida law allows greater flexibility to charge a minor as an adult in a financial fraud case. Two other men in 19 and a 22 year old were also charged. It is onto the training month of August. And so what

Graham Ivan Clark Elon Musk Barack Obama Jeff Bezos Florida Twitter Fraud
As Unemployment Aid Expires, White House and Congress Clash on Relief Plan

Bloomberg Businessweek

00:29 sec | Last week

As Unemployment Aid Expires, White House and Congress Clash on Relief Plan

"To extend the $600 per week supplemental unemployment benefit that expired yesterday, but only for a week, House Speaker Nancy Pelosi said yesterday. That's not good enough passing something for a week without all the other things that should go with it. Is not any path. We will go down. They just wanted it's a public relations stunt, on their part on were very, very concerned about that. The two sides will continue the negotiations today. Mexico now has

House Speaker Nancy Pelosi Mexico
James Murdoch resigns from News Corp board over editorial differences

Bloomberg Businessweek

00:23 sec | Last week

James Murdoch resigns from News Corp board over editorial differences

"James Murdoch has resigned from News Corp's board over disagreements about certain editorial content published by the company's outlets on certain others. Pretty jik decisions now. This was, according to a letter from Murdoch again. James Murdoch, resigning from News Corp Board over disagreements about certain editorial content. News Corp By the way, will be among the media giant scheduled to report next

James Murdoch News Corp
Cardinals-Brewers game off after positive COVID tests

Bloomberg Businessweek

00:21 sec | Last week

Cardinals-Brewers game off after positive COVID tests

"But all were rejected by Democrats. Baseball continues to see a rise in Corona virus cases. Today's game between ST Louis in Milwaukee had to be postponed after multiple Cardinals employees tested positive. That's in addition to other game scheduled for today involving the Marlins, Nationals, Blue Jays and fillies that had to be postponed because of an outbreak among Miami players into

Blue Jays St Louis Marlins Cardinals Baseball Milwaukee Miami
Black Entrepreneurs Urged to Seize the Moment Despite Difficulties

Bloomberg Businessweek

02:36 min | Last week

Black Entrepreneurs Urged to Seize the Moment Despite Difficulties

"Business becomes part of the conversation, and it becomes part of the community. You write about how These black own franchises of McDonald's shape the community around them. They goes beyond providing jobs. They play a leading cultural roll. Talk a little bit about that. Right, so African American franchise owners take on the role that black business owners have historically taken on, and that means that they're providing other resource is in communities because of the color line in government services and opportunities. So they're underwriting youth programs in schools there, making sure that first jobs are actually being created. In the communities. They're sponsoring things like the early Martin Luther King Jr holiday, So you start to see their influence not just in the business sector, but for historically black colleges and universities for the creation of the all American basketball team. And so these black franchise owners become incredibly visible and incredibly popular in these communities, because, as I say in my book, these communities are cut off from federal resource is and other types of opportunities in order to have their needs met. So, Dr Chaplin. How far does it extend beyond McDonald's? Because we do know that today in 2020 the gap in wealth between black Americans and white Americans. His massive. Why didn't this catch on Mohr beyond McDonald's? Well, we think that the reality is that you can't solve robust and complex and deep social problems simply by having business leave the way that we have. Public fear we have public policy with public resource is like taxes in order to do that. But what it does reveal is that this moment that McDonalds is in right now, saying that they stand for black lives donating to the end of the CP. It's not knew we have a 50 year plus history of McDonald's inserting itself into the civil rights struggle. So that they can appear that there on the right side of history. But in this early period when MacDonald was extending the opportunity for Franchising, people did not have the full understanding of the consequences of fast food on the American diet. As well as the concerns about wages in the industry today supporting black live visa be McDonald's has more to do with the quality of work. And benefits and providing for its people than some of these other solutions from the past.

Mcdonald Martin Luther King Jr Mcdonalds Dr Chaplin Basketball Macdonald Mohr
US to withdraw 12,000 troops from Germany

Bloomberg Businessweek

00:21 sec | 2 weeks ago

US to withdraw 12,000 troops from Germany

"The decision to withdraw U. S troop troops from Germany. Is largely about punishing Germany as a defence deadbeat Tus plan to withdraw about 12,000 military personnel got the attention of Republican Senator Mitt Romney on Twitter, he said. The move is a grave error and three students in Hong

Senator Mitt Romney Germany Twitter Hong
In heated hearing, lawmakers say tech 'emperors' hold too much power

Bloomberg Businessweek

00:26 sec | 2 weeks ago

In heated hearing, lawmakers say tech 'emperors' hold too much power

"American tech giants came under rapid fire interrogation from lawmakers today who accused them of using their power to quash rivals and thwart competition. Alphabets Google, Facebook and Apple, along with Amazon were criticized at a house hearing today for the power they wield over digital markets. Google's control over Internet search apples. Power over APS. Facebook's acquisition of rivals and Amazons leverage over third party sellers. They will

Facebook Google Amazons Amazon Apple
In heated hearing, lawmakers say tech 'emperors' hold too much power

Bloomberg Businessweek

00:26 sec | 2 weeks ago

In heated hearing, lawmakers say tech 'emperors' hold too much power

"American tech giants came under rapid fire interrogation from lawmakers today who accused them of using their power to quash rivals and thwart competition. Alphabets Google, Facebook and Apple, along with Amazon were criticized at a house hearing today for the power they wield over digital markets. Google's control over Internet search apples. Power over APS. Facebook's acquisition of rivals and Amazons leverage over third party sellers. They will

Facebook Google Amazons Amazon Apple
Fed sketches dim outlook for US economy amid pandemic and signals it will keep rates pinned near zero

Bloomberg Businessweek

00:36 sec | 2 weeks ago

Fed sketches dim outlook for US economy amid pandemic and signals it will keep rates pinned near zero

"S and P 500. Extending its July rally is the Fed left rates unchanged near zero and again vowed to use all its tools to support the US economy amid a shaky recovery from the pandemic. Scott Minored, his chief investment officer of Guggenheim Partners, he was interviewed moments ago on Bloomberg Television definition of the market is the federal service. They have made it clear that where interest rates are going to be made clear that they want Dr. Credit spreads tighter on. They've made it clear that their reaction function is in response to the progress of the virus and its impact on the economy.

Chief Investment Officer Scott Minored Guggenheim Partners FED Bloomberg Television United States Dr. Credit S
"bloomberg businessweek" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:51 min | 8 months ago

"bloomberg businessweek" Discussed on Bloomberg Radio New York

"This is Bloomberg businessweek Carol Vassar and cheese and Kelly from Bloomberg radio climate change we know Jason impacts businesses impacts industries homes how people live but this story the economic section notes this week that it may have helped fuel the popular uprising that is the millions marching on the streets of Chile this is a fascinating and disturbing story in takes this as you say to Chile Christina Lindblad our economics editor at fearlessly is here talking about this story there's a lot to be disturbed by here I have to say in the connections that you draw are pretty stark yeah I mean I think that most of the coverage of these protests has focused on dissatisfaction over you know the economic model and how it relates to you know meager pensions and and people feel like you know the education system is you know is is producing inequality in the usual suspects yeah exactly but I guess about we looked at the backdrop of this which is a ten year major drought we have now tak Megan for these events and that's been affecting central to it which is what more most of the population is the north is already very accurate and and so we looked at these water fights have input I mean literally that have been playing out and how these protests kind of you can't say they literally jumped from rural areas to the city but there's definitely been this echoes of like I need full access to water equals unequal access to education and equal access to opportunity you know well tell us about the impact that it's had on on the left I think about farmers in Chile and so much more how is it played out so I mean we talked to to you know people who've lost more than half of their lifestyle you know in the last couple of years and and there's also an area in particular in this valley where I will kind of farming has you know spread of course to feed this global demand for avocados in particular a lot of X. so you can have alley and in that instance it's because basically the the avocado farmers are being accused of exploiting their water rights at their car years ago and also tapping rivers he legally and so all the small farmers in the area are you know have not have that rainfall has been lacking so they don't have anything to watch the other kind of farmers are fine yeah but I mean if you look at the photos it is dark I mean you'll see these hills are all brown on these avocado farmers I will kind of this I really water intensive crown should not really be grown in some of these places so yeah this one of those things and it you know and one of the issues that this brings to mind I think is income inequality obviously but also this notion of political and economic choices that favor business over consumers or people named to get down to it and sort of businesses even over what I think most would argue is a basic human right well that's right and I think people were initially surprised about the the sort of the violence of these demonstrations in kilo of all places because it has so often been cited as a model for the rest of Latin America in terms of how it enshrined these neo neo liberal model you know it is constitution and the constitution dates from the time of day does it take to ship and so does a water Pinochet yeah so and so does a water law that basically gives people water rights in perpetuity so companies you know have them forever and they can trade them you know what I do is once upon a time the thought was like free markets will help people you know be careful in the management and use of finite resource but that really has not been the case as we've seen in in some places mining and and sort of and and kind of export oriented agriculture have really kind of priority had prior the government has prioritized those kinds of uses for water and so you know we have now communities in Chile that depend on water getting trucked in I mean when they open the faucet nothing comes out yeah it is amazing it's amazing and that it and I do wonder you know what is the political backdrop here because a lot of this on rast as you said at the beginning of the conversation has been tied to the political system is there any sense that that may change soon what what's the latest there well I mean it's the outcome it may be quite radical in that legislators have sat and agreed on two possible means of re writing the constitution so now this consensus and the country is for large consensus that the constitution needs to be written because it enshrines this model that is no longer like you know that is that is cause distortion is simply not valid right country right so we may see as part of the I mean they have a started talking about how water is going to play into that because I separate lot but we we could see changes in that as well it's a completely thinking basically of sort of like why do you want to be as a country well I think yeah exactly you know it's interesting I feel like to leave perhaps the extreme case in terms of climate change right in the drought the impact it's had on the people there but he's not the only place right climate change a warming climate lead to political strife and social unrest we've seen it around the world right in Syria it played a role in the civil war because there was like crop loss and then that pushed up the price of bread in the or protest you know it's sort of more of again it's like sometimes it's like something lights a match and then all these other it demands get you know kind of full that in you know but I think I think it's you know if you think it was water you must be like inalienable right yeah well so it like it it exercises people and they don't have access because he'll invite thank you thank you you're listening to Bloomberg businessweek coming up taking a look at softbank's vision fund.

Carol Vassar Jason Bloomberg Kelly
"bloomberg businessweek" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:58 min | 9 months ago

"bloomberg businessweek" Discussed on Bloomberg Radio New York

"This is Bloomberg businessweek Carol Vassar and cheese and Kelly from Bloomberg radio consumer is back with this the president and CEO of Porsche cars Porsche cars North America back in New York City had Elia and now I corrected myself any way great to have you back with last time you're here were downstairs with the car this year you're here for the year ahead event so let's start there what is in store for the year ahead in your business it's all about the brand you know in former times actually products were building the brand and all you have to define your brand new brand purpose and then you build the products which is a huge shift for us in terms of product planning and in terms of communications I love these about brand purpose because a big theme of the year had this year's all that sustainability and companies thinking about kind of the broader impact that they're having on our world how does that obviously working two in terms of I think about you know alternatives to carbon fuel vehicles and so on so forth talked is about though how that plays in with what you're doing but when the first phase actually of a transition to a better electric vehicles of fifty percent of all cars sold in twenty twenty five we'll have a block so it will have either combustion engine or with a plugin modules a hybrid or battery electric vehicles so that transition is taking place as we speak the first cars out in about it's the Thai con and we pretty happy about the reception in the United States I have to say I am very excited I just had a chance to drive it congratulations on that car I would love to know why was Porsche the right company to bring out an electric sedan in the performance segment we actually had a long discussion when we started looking at the source of business to then launch a battery electric vehicle whether it should be what everybody looks at which is as your visa whether we should stay close to twelve brand heritage and have a fly line that looks more like a nine eleven on like a real sports car so we decided at the end of the day let's not look at the business potential let's look at the brand let's look at what people associate with what Porsche has been known for four decades and that's why the Thai con is actually the right card to be bigger than the nine eleven of course because we need battery size and battery space in order to also fulfil all customers expectation when it comes when it comes to performance range charging speeds and so on and so forth so class when you think about the Porsche customer I had is here she feel right now about the economy what are they saying to you about those sort of how they're feeling how they're spending as they look ahead to the next year when they come to buy a car well if you look at all figures we in good shape even without the Thai con we're above previous year six point five percent by the market is slightly down so I think we've got the right strategy the right products right communications to write to sales force with all US dealers so we are confident they are confident buying into the brand but you know when a boiling the ocean here with three cars out of a thousand that all sold here in the United States so we probably know spot that we consider being fortunate what makes sense for Porsche in terms of luxury brand doing electric vehicle I think if you have the right technology and if you say this car speaks portion this car's DNA Porsche and the right technologies there now we have a ton of old system with the first manufacturer applying that to a car we have everything we know about the chassis and the drive train embedded in that car and all I know you drove it it behaves like a true so far thumbs up thank you for that so it's it's the right time and looking at all order intake we're not talking numbers just before you ask me order intake is as eating all expectations to to put it that way all right so what worries you because I do think about how many times we sit around the table here Clausen we're talking about some of the big macro issues rather to US China trade our trade wars in general or a global economic slowdown of some sort interest rates interest rates like what are we missing what is it that you guys spend a lot of time discussing obviously you want to focus on your brand get your message out there grading a great vehicle out there but what else well for us internally its customer experience but let's put that aside if we look at micro it economics at at this point of time not all biggest worry of course what where the tariff the tears discussions that that was something that was hanging like a black cloud above us now it's not gone the cloud but it has lightened up a bit bay recent reports show that I think all messaging has arrived and I'm not talking just full Porsche multiple conform other company B. W. they have just announced eight hundred million investment in Chattanooga creating another thousand jobs for battery electric vehicles that will be produced there we've done our homework as Carmen infectious in this wonderful country with invested billions and that many thousands of people dependent on on those cars being produced here and and even exported to other countries so because it makes business sense correct it completely makes business sense yes absolutely so it you know that's a responsibility we are very aware off and we'll we'll living up to it and I think that has not arrived with the the the administration and I just hope that everybody stays calm and believes in free and fair trade and that's a Klaus's Selmer back with us he's the president and CEO of Porsche cars North America along with Hannah Elliott our car and Burt love catching up with them of course the last time he came to see if the product car we got to sit around play around with a car with interesting to use it you know it's more about electric vehicles and hybrids but we also talked a little bit more broadly about the infrastructure needed to support all of this so a great conversation you're listening to Bloomberg businessweek coming up looking and two writers love hate relationship with Amtrak that is so true and I was very tough new CEO he's cutting costs in the hopes of saving the rail this is Hey.

Carol Vassar president and CEO North America New York City Elia Bloomberg Kelly Porsche fifty percent five percent four decades
"bloomberg businessweek" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:01 min | 1 year ago

"bloomberg businessweek" Discussed on Bloomberg Radio New York

"This is Bloomberg businessweek go hello I'm cheating Kelly Carol master planning ahead in this hour of the week in addition of Bloomberg businessweek including all you dungeons and dragons fans will check it out is actually profession and all of this a different kind of side hustle to be sure really catch up also with the C. E. O. of you PS that's David add me plus the most fantastic way to experience the Colorado Rocky Mountains let's go for a run first up Carol as a protest in Hong Kong have lingered on the world is beginning to realize that the fight is not only about a local extradition law but also about a fight for democracy the story only gets bigger and bigger in a lot of ways and is raising some almost existential questions about democracy yeah using that killing Goodman joins us from London she oversees the politics section for business week and this really has turned into quite the global story jelly and why I mean it's extremely compelling you have people you know mass saying out in the streets demanding a degree of freedom from China and this is you know not only is it a global story it's a long story I do wonder with the protests in Hong Kong that's a stark reminder of how China likes to control its citizens correct absolutely yeah there's there's been a lot of back and forth on this issue voting specifically so the basic law that governs Hong Kong rather's has them in Hong Kong since the handover from the from the U. K. in nineteen ninety seven says that Hong Kong gets to maintain its own separate as capitalist system of government and way of life for fifty years so that means that that runs out in twenty forty seven but meanwhile in China is still gets a degree of approval over the leadership of Hong Kong and they had the leader is selected by committee that's made up largely of Beijing loyalists and there's no popular vote to determine who that is and they've gone back and forth on this question a lot you saw this in twenty fourteen with the embattled umbrella protests and and so you know this is the latest turn of the of the screen there well and it's interesting.

E. O. David Colorado Rocky Mountains Hong Kong Goodman London China Bloomberg Kelly Carol Beijing fifty years
"bloomberg businessweek" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:29 min | 1 year ago

"bloomberg businessweek" Discussed on Bloomberg Radio New York

"This is Bloomberg BusinessWeek from Bloomberg radio. Hello. I'm Kalama sir. Jason kelly. Plenty had few in this hour of the weekend edition of Bloomberg BusinessWeek, including a look at Wall Street through the eyes of politicians lot of money to be had Democrats, not shy about asking for it politics, always makes for fun, and interesting friends, certainly when it comes to donations also we take a look at Nali would not Bollywood not Hollywood, but we're talking about Nali what we're talking about the film industry in Nigeria, plus BusinessWeek talks, our exclusive interview at Cisco CEO Chuck Robbins, first up, though. We take a look at the politics section featuring a story on the relationship between President Trump and Kim Jong UN. Well, this love affair as the president of the United States has described it has really made the whole relationship, the whole geopolitical relationship a little more complicated. Jillian Goodman joins us from the nation's capital. She oversees, of course, the politics section floor the magazine. So. Tell us how this relationship has evolved at this were Facebook. We'd say it's complicated. We would. So they had this historic sit down, of course, last year in Singapore after which both sides were fairly a few about the relationship Trump proclaiming on Twitter. That they had fallen in love that. And that nuclear excuse me that North Korea was, of course, no longer a nuclear threat. But then in February we saw the collapse of those talks. And so now that, that both of them have decided that they were so close in Spokane so publicly about how close they were kind of left themselves without a clear avenue to get what they want without losing face. Well, that's the whole point. I felt like there was a line in the story about how the to have to walk a delicate line to do exactly like that. Save face and avoid a nuclear war. Nobody wants that at this point, but it's tricky correct. The s. Absolutely. I mean on the one hand, you know, Kim Jong UN desperately needs economic aid. North Korea's harvest last year was catastrophic or talking about widespread hunger in the country. And so that does he's a you know, a all powerful political figure, but that does come with some risk to him, so he desperately wants economic aid, but he won't get that, from the Trump administration without giving up his nuclear weapons, which he also doesn't want to do, and so without that, and that's sort of where the stalemate came from in February, as if the definition of what t- nuclear rising means. And the Trump administration just wasn't willing to agree to what North Korea was willing to offer. Well, and Jillian it's an interesting insight into the US administration, especially because it feels like you have the president who, obviously, is in charge at the end of the day, the decider to us. The of one of his predecessors. But you also have his administration, which is trying to keep these negotiations going on. And sometimes in this is not the first time we've seen this with this administration. Those parties seem to be a little bit odd. How is this administration sort of balancing that finished have sort of balancing game as you say? I mean on the one hand like Trump has really taken on the role of being the person that's going to fix this relationship of being the person who's going to negotiate so one on one with Kim, and as that is falling apart. I mean you saw Steve begin the nuclear negotiator. The North Korean negotiator was actually, in South Korea when those during one of the missile tests that sort of prompted this latest about of tensions, and so it is a pretty bold move for them to for North Korea that has to be testing missiles, while the US negotiator is so close. In fact, within range of some of those missiles that they. Tested, but it's kind of fascinating. I think this point that the two initially did direct negotiations. Right. It was really those two individuals Kim Jong UN and President Trump, you know, figuring things out that kind of made it much more complicated and kind of got us to where we are to some extent today. That makes the negotiations now even trickier and tougher exactly. Yeah. Voting. Neither leader wants to look like not a leader my backing down well, and with President Trump and we've seen this in a number of different cases. And this is a stylistic thing if nothing else where he wants to go one on one with world leaders, whether it is Vladimir Putin in the case of the Helsinki summit, whether it is Kim Jong as you've described even with other world leaders some allies, some traditional foes. How much does this just tell us about this is how this president roles? I mean a lot, you know, he's, he's famously that way and his businesses as well. But really what we're seeing with this release. Tranship with North Korea. Is that this is why we have diplomats who negotiate the details before the two leaders, get into the room so that everybody knows what's going to happen, so that you don't walk into a situation like we had an annoying where there are so many unknowns and they're still so much work to do between the two leaders that no one's, really. Sure, what's going to come out? Right. There's typically usually a lot of choreography that has all been laid out. And then we just kind of get to see it all fall into place in follow the script or the plan. And that's not exactly what we saw here. Tell me a little bit about to South Korea and their role in all of this because they're in a very tricky position. Right. An ally certainly of the United States, but they also because they are certainly within range of those nuclear weapons from North Korea there in a tricky places. Well, exactly. And there's been a lot of progress made, of course in the relationship between the north and the south a lot of work that moon Jae ended before we even got to the same poor summit last year. And so he on the one hand. Want to alienate, the US, but also doesn't want to risk these sort of fragile peace that he's built with Kim. And so, you know, South Korea is providing food aid through the World Food Program and is hoping that, that will sort of Luthan loosen things up and lead to a third summit. But the US hasn't really budged on that. That's Jillian Goodman. And I really liked this story because the nuances of personal relationships and I am relationships writ, large that is the cornerstone of this administration. Right. And that personal relationship though can complicate, what really is a geopolitical relationship. Right. And both leaders right now walking a fine line, right? They're both trying to save face they'd want to a nuclear war. It'll be interesting to see how they get this done with different age of.

North Korea President Trump Kim Jong UN United States South Korea Jillian Goodman president Trump Bloomberg BusinessWeek Kim Kim Jong Nali Bloomberg Jason kelly BusinessWeek Facebook Cisco Spokane Singapore
"bloomberg businessweek" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:27 min | 1 year ago

"bloomberg businessweek" Discussed on Bloomberg Radio New York

"This is Bloomberg BusinessWeek from Bloomberg radio. Palu. I'm Kalama sir. Jason kelly. Plenty had few in this hour of the weekend edition of Bloomberg BusinessWeek, including a look at Wall Street through the eyes of politicians. A lot of money to be had Democrats, not shy about asking for politics. Always makes for fun and interesting friends, certainly when it comes to donations also we take a look at Nali would not Bollywood not Hollywood, but we're talking about Nali what we're talking about the film industry in Nigeria, plus BusinessWeek talks, our exclusive interview at Cisco CEO Chuck Robbins. I, we take a look at the politics section featuring a story on the relationship between President Trump and Kim Jong UN. Well, this love affair as the president United States has described it has really made the whole relationship. The whole geopolitical relationship a little more complicated. Chilling Goodman joins us from the nation's capital. She oversees, of course, the politics section for the magazine. So tell. Us how this relationship has evolved at this were Facebook. We'd say it's complicated. We would. So they had this historic sit down, of course, last year in Singapore after which both sides were fairly few about the relationship Trump proclaiming on Twitter. That they had fallen in love and that nuclear see excuse me that North Korea was, of course, no longer a nuclear threat. But then in February we saw the collapse of those talks. And so now that, that both of them have decided that they were so close in Spokane so publicly about how close they were kind of left themselves without a clear avenue to get what they want without losing face. Well, that's the whole point. I felt like there was a line in the story about how the to have to walk a delicate line to do exactly like that. Save face and avoid a nuclear war. Nobody wants that at this point, but it's tricky correct. Yes. Absolutely. I mean on the one hand, you know, Kim Jong UN desperately needs economic aid North Korea's harvest last year was catastrophic. We're talking about widespread hunger in the country. And so that does he's a you know, all powerful political figure, but that does come with some risk to him, so he desperately wants economic aid. But he won't get that, from the Trump administration without giving up his nuclear weapons, which he also doesn't want to do, and so without that, and that's sort of where the stalemate came from in February is, is the definition of what t- nuclearising means and the Trump administration just wasn't willing to agree to what North Korea was willing to offer and Jillian it's an interesting insight into the US administration, especially because it feels like you have the president who, obviously, is in charge at the end of the day, the decider to use the got of one of his predecessors. But you also have his administration, which is trying to keep these. Negotiations going on. And sometimes in this is not the first time we've seen this with this administration. Those parties seem to be a little bit odd. How is this administration sort of balancing that finished have sort of balancing game as you say? I mean on the one hand like Trump has really taken on the role of being the person that's going to fix this relationship of being the person who's going to negotiate one on one with Kim asked that is falling apart. I mean you saw Steve begin the nuclear negotiator. The North Korean negotiator was actually, in South Korea when does during one of the missile tests that sort of prompted this latest bout of tensions. And so it is a pretty bold move for them to for North Korea that has to be testing missiles, while the US negotiator is so close. In fact, within range of some of those missiles that they tested, but it's kind of fascinating. I think this point that the two initially did directly Goshi -ation. Right. It was really those two individuals. Skin tone and President Trump, you know figuring things out that kind of made it much more complicated and kind of got us to where we are to some extent today. That makes the negotiations now even trickier and tougher. Exactly. Yeah. Voting. Neither leader wants to look like not a leader my backing down well and with President Trump than we've seen this in a number of different cases. And this is a stylistic thing if nothing else where he wants to go one on one with world leaders, whether it is Vladimir Putin in the case of the Helsinki summit, whether it is Kim Jong as you've described even with other world leaders some allies. Some traditional foes. How much does this just tell us about this is how this president roles? I mean a lot, you know, he's, he's famously that way in his businesses as well. But really, what we're seeing with this relationship with North Korea is that this is why we have diplomats who negotiate the details before the two leaders get in. Into the room so that everybody knows what's going to happen, so that you don't walk into a situation like we had an where there are so many unknowns and they're still so much work to do between the two leaders that no one's, really. Sure, what's going to come out? Right. There's typically usually a lot of choreography that has all been laid out. And then we just kind of get to see it all fall into place in follow the script or the plan. And that's not exactly what we saw here. Tell me a little bit about to South Korea and their role in all of this because they're in a very tricky position. Right. An ally certainly of the United States, but they also because they are certainly within range of those nuclear weapons from North Korea there in a tricky place, as well. Exactly. And there's been a lot of progress made, of course in the relationship between the north and the south a lot of work that moon Jae ended before we even got to the same poor summit last year. And so he on the one hand doesn't want to end in the US, but also doesn't want to risk these sort of fragile peace that he's built with Kim. And so. You know, South Korea is providing food aid through the World Food Program and is hoping that, that will sort of Luthan loosen things up and lead to a third summit. But the US hasn't really budged on that. That's Jillian Goodman. And I really liked this story because the nuances of personal relationships and personal relationships writ large that is the cornerstone of this administration. Right in a personal relationship. Okay. Complicate, what really is a geopolitical relationship. Right. And both leaders right now walking a fine line. Right. They're both trying to save face they'd want to a nuclear war. It'll be interesting to see how they.

North Korea President Trump United States South Korea Kim Jong UN president Jillian Goodman Trump Bloomberg BusinessWeek Kim Nali Bloomberg Kim Jong Jason kelly BusinessWeek Facebook Cisco Spokane
"bloomberg businessweek" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:04 min | 1 year ago

"bloomberg businessweek" Discussed on Bloomberg Radio New York

"This is Bloomberg BusinessWeek civic it at the top of the broadcast, but look up everybody because there might be a drone in the sky. Mixed emotions about the this really interested in speaking to the people who know way more about this than I do. All right. We're going to get into it because Google alphabets Google becoming the first drone operator to receive government approval as an airline. That's what I can't get my head about peanuts on this. Now. I don't think you do. All right. We'll get into that. Just a moment. Let's get back to your toughest. Let's get back to course. Charlie pellett. Thank you very much. No droning on here. Because we got the Dow the S and P NASDAQ they are all pushing higher right now as some P five hundred index topping it's all time closing high on the back of Belen forecast. Earnings the dollar strengthen treasury yields dip speaking of earnings Texas Instruments after the bell today. Shares up right now by eight tenths of one percent Lockheed Martin Hasbro, climbing following favourable first-quarter reports adding to a rally led by the biggest technology companies has pro for example, not among the text but Hasbro up fourteen point seven percent right now. Crude oil west Texas intermediate up one point three percent sixty six thirty seven barrel. Brent seventy four fifty six up seven tenths of one percent. Just about the. Highest close in six months after the United States announced a tougher crackdown on Iran seeking to choke off the OPEC members. Crude exports, Dan Tenenbaum is global sanctions leader at Price Waterhouse Coopers. He was interviewed and s- morning on Bloomberg radio. The announcement came out they want the world to zero on Iranian. Crude the Iranians have respectfully disagreed as well as a number of allies that still continue to trade. And so we're gonna have a bit of a standoff potentially fan right now, we've got the training of ova toll closing record of twenty nine thirty point seventy five s and p's twenty nine thirty four up nine tenths of one percent. Nasdaq up one oh seven up one point three percent. The Dow up one hundred forty three five tenths gold lower three tenths of one percent, twelve seventy one the I'm Charlie Pellett. That's a Bloomberg business flash. All right..

Bloomberg Charlie pellett Lockheed Martin Hasbro Google Price Waterhouse Coopers Belen Dan Tenenbaum OPEC Texas Brent United States Iran p one percent three percent
"bloomberg businessweek" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:45 min | 1 year ago

"bloomberg businessweek" Discussed on Bloomberg Radio New York

"This is Bloomberg BusinessWeek. All right. So coming up, we're getting give you a little bit of a of a great conversation. We recorded yesterday. We had the intrigue are on the show, and we squirrel them into this little podcast studio. And he opened up about a lot of different things. It was a really fun conversation. Took us back to studio fifty four studio. He calls it because it's studio. Anyway, we'll give you a little taste of that. And it's available now on our weekend podcast. Yes, it is. I up though, let's get back to your top stories like going on on this Friday, Charlie Pellett. Indeed. We've got twenty minutes to go ahead of the closing bell stocks off their session highs, but we are holding onto our gains. We've got green on the screen with the s&p up fourteen now of five tenths of one percent. Dow Industrial's up one hundred thirty six a five tents NASDAQ up sixty four at higher by eight tenths of one percent s&p by the way at twenty eight twenty two stocks joining a global advance sparked by China's renewed. Commitment to stimulus is investors. Grow more confident that central banks will remain accommodative. The university of Michigan's national consumer sentiment index improved this month assigned households remain a potent force in the current economic cycle. And with more on that story. Here's Bloomberg's Vinny Del Giudice Michigan index at a three month. High ninety seven point eight consumers are more upbeat about their finances and the economy in general optimism about the labor market has also up separate government. Data showed job openings continued to exceed seven million benico. Nice bloombergradio tenure up eleven thirty seconds. Yield two point five eight percent. Gold up five tenths of one percent. Thirteen o one the ounce. West Texas intermediate.

Bloomberg Vinny Del Giudice university of Michigan Charlie Pellett Dow Industrial Michigan West Texas China one percent eleven thirty seconds five eight percent twenty minutes three month
"bloomberg businessweek" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:58 min | 1 year ago

"bloomberg businessweek" Discussed on Bloomberg Radio New York

"This is Bloomberg BusinessWeek on this Wednesday. Carolmassar interactive brokers studio by co host Jason Kelly on assignment in Berlin walking around the world of private equity. So we'll hear more on that from him over the next couple of days coming up, though, increasingly we hear about technology invading the world of finance. We'll get an update on that. In just a moment. Let's get back though to your top headlines and an update on some of the trading news. Here's what's again, Doug krizner Carol trading today in the equity space has been a little choppy right now, we're mixed with the Dow down about two tenths of one percent. The NASDAQ composite is higher by about one tenth of one percent. Energy shares following the price of crude oil higher. WTI is up more than two and a half percent right now fifty-six Ninety-seven this is after Saudi Arabia's signaled its inclined to extend those supply cuts sometime in the second half of the year week, though communication Sarah shares also real estate in healthcare stocks on the decline slight backup in long. Term interest rates today with a ten year treasury yielding two point six eight percent. We've had some mixed earnings. News shares invest by trading higher by more than sixteen percent after reporting results for the holiday quarter above estimates. But Mylan down more than ten percent. The generic drug makers forecaster twenty nineteen missing estimates. And it's so former Weight Watchers international now known as simply as WW stock is down more than thirty percent after the company's annual profit forecast wasn't even close to estimates. They are now seeing something in the vicinity of a buck twenty-five to a buck fifty. But the street was looking for three thirty six. I'm Doug krizner that is your Bloomberg business flash. All right. Doug. Thank you so much. You're listening to Bloomberg BusinessWeek, Carol Massar. And this is Bloomberg radio. Financial industry. Definitely getting ready for tremendous.

Bloomberg BusinessWeek Doug krizner Bloomberg Weight Watchers Jason Kelly Carolmassar interactive broker Saudi Arabia Carol Massar Berlin forecaster WTI Sarah one percent six eight percent sixteen percent
"bloomberg businessweek" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:07 min | 1 year ago

"bloomberg businessweek" Discussed on Bloomberg Radio New York

"This is Bloomberg BusinessWeek deep Bloomberg BusinessWeek on this Wednesday. Carol Massar along with our global macro strategist Vincent Morella here in our Bloomberg. Interactive brokers studio coming up last week, we're all kind of blown away by Amazon pulling out of New York, but it's really kind of gotten this conversation about the pushback against big tech in big cities, whatever most of the pushback coming from. I guess you want to say these social bent leaning politics. This is not good for cities and Seattle complaining about the rising homelessness and the rising costs of of rents etcetera. So not not really a positive along with. Well, we're going to talk about that the impact and the implications. Let's get back to the world of business with Charlie Pellett. Hi, thank you very much. Big topic today. Those F M C minutes stocks now trading mixed staff of the Federal Reserve issued minutes of last month's policy meeting spelling out its decision to call a halt to raising interest rates San with more on the story. Here's Bloomberg's Vinny. Del is officials decided they get a clearer picture the economic outlook. If patients were to, prevail. Many weren't sure how rates will move this year. They gave a general thumbs up on the US economy, but expressed concern about the rest of the world Daljit ice, Bloomberg radio reaction from Lindsey PX chief economist at steeple financial interviewed moments ago right here on Bloomberg BusinessWeek. That is pretty confident in the state of the domestic economy, but they be a growing number of Rick particularly abroad as we look at growth, Lloyd in a number of major economy and also unresolved government issue as they say right now, we've got the tender down five thirty seconds with a yield of two point six five percents. Stocks fluctuating after the fed minutes s and p of four up two tenths. The Dow now up by fifty of two tenths of one percent. Nasdaq down three dropped their of less than one tenth of one percent. Gold down two tenths of one percent. Thirteen thirty nine the ounce. West Texas intermediate crude flirting with fifty seven fifty six ninety two right now by one and a half percent. I'm Charlie Pellett. That's a Bloomberg business flash..

Bloomberg Bloomberg BusinessWeek Charlie Pellett Vincent Morella Interactive brokers Carol Massar Amazon Federal Reserve New York Seattle West Texas US chief economist Del San steeple financial Rick Lindsey PX
"bloomberg businessweek" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:46 min | 1 year ago

"bloomberg businessweek" Discussed on Bloomberg Radio New York

"This is Bloomberg BusinessWeek is indeed Bloomberg BusinessWeek live from Charlotte North Carolina from the NBA all star tech summit twenty th year in a row, and we're talking to NBA players and owners and all that good stuff. Yeah. It's been really interesting. And we're going to have more of those conversations a lot of them coming up in the four o'clock hour, including with Amy Brooke. She's the chief innovation officer. We kicked off the day with her, and she is really in the midst of probably the biggest transformation of any league from a technology perspective. And we are certainly also when it looks at the when you look at the markets, we're in the midst of a rally, so let's get an update on today's trading session. 'cause we've got another week Charlie Pellett where it looks like likely to see the S and P five hundred three in a row. Carol massar. Indeed, the SNP at a ten week hide day with the Dow the s&p NASDAQ all rally mode. We've got twenty eight minutes to go ahead of that clanging bells of new York Stock Exchange or the SNP up twenty three up eight tenths of one percents. Dow Industrial's up three. Sixty nine right now, that's an advance of one and a half percent. Nasdaq up twenty nine a gain of four tenths of one percent also worth pausing just reflect on the fact that the S and P five hundred index. Yes, it's a young year. But right now, the s&p is up by ten and a half percent in the white TD column on the Bloomberg industrial production dropped in January for the first time in eight months, a sign the economy is moderating and with more on that story. Here's Bloomberg's Vinny Del Giudice sing factory output industrial production down point six percent headwinds, including the White House trade war with China or weighing on factories January's. Biggest loser the auto industry. Posting the weakest output since mate. Elsewhere rising utility in mining output. Cushioned the factory slumping nice, Bloomberg radio. Mattel plunging.

Bloomberg Bloomberg BusinessWeek chief innovation officer SNP NBA Dow Industrial Charlotte North Carolina Vinny Del Giudice Mattel Charlie Pellett Carol massar York Stock Exchange White House China twenty eight minutes eight months
"bloomberg businessweek" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:46 min | 1 year ago

"bloomberg businessweek" Discussed on Bloomberg Radio New York

"Of Bloomberg BusinessWeek, the one on newsstands now, it's all about lunch, essentially, and everything that goes into making it and getting it delivered not just in New York City, but in many places, we advocates delivery, it is a massive massive business. Elizabeth done is here with us. She wrote this story joins us on the phone from here in New York City, MS done great to reconnect with you. Congrats on this story. Really is a great read. Thanks for having me, man. Thanks for that. So tell us what inspired you to do this because we had those of us who are here in New York. Many of us have walked past or partaken of dig in. That's D. I N N. They have a lot of locations, but they've also got a pretty challenging business right now. Because so many people want their lunch delivered. Yeah. You know, it's it's funny. I think consumers at a lot of us were eating more food delivery than we did five or ten years ago. And I think to think well, it's great for the restaurants because that's extra money for them. You know, those are maybe meals that you wouldn't have otherwise eaten from their restaurant. But it turns out that doing delivery is really challenging on financial challenging it's operationally challenging and what they gain has found which is as you say sort of a twenty six location fast, casual restaurant, that's mainly New York. They serve that kind of assembly line style of food where you get like, a grains and vegetables a protein, and they just found that that was great if you were walking in and eating food immediately. But that once you had that food sit around for sixty or ninety minutes to be delivered. It wasn't really doing good things for their brand. And not tasty. Right. And it's more and more of your customers. I need an incentive there location thirty percent of their their orders or thirty percent of their sales were for delivery. You know with your customers eating food. That's not kind of what you intend to the to be quality wise. That's a long term business problem for you. So listen with one of the entering takeaways ahead from your articles at. Yes, more and more restaurants are offering delivery services, but consumers expectations are also rising. And so you see that I guess sometimes you mentioned the article the yelp ratings. You can get a wildly different yelp ratings from consumers relative that the in store experience versus the delivery experience. Tell us about that. Yeah. So in the story one of the little tickets that I had in their wish that yelp rating for digging overall. It's four point oh to go on yelp. You'll see four point oh for digging. But when they sort of. Ganj their reviews for delivery and tried to pick those out. They found that anybody who mentioned delivery was giving with giving digging a one point five, and I don't know if that's because people are harsher delivery or just because you kind of expected you want it to be as good as the food that you eat in store, but most food when it has sat around for thirty or sixty or ninety minutes is is nowhere near as good as anybody who's ordered French fries for delivery. Well, we'll note. Domino and a fresh late the fresh late. They built the whole business around thirty minutes. Yeah. Totally so talk to us about the technology underneath this Elizabeth because part of this comes back to how people are ordering. They're all these third party sites. Whether it's dash hub ubereats and whatnot. And that's a whole different element into into this business into the margins into the timing into all of it. So what's happening there? Yeah. Many of us. I mean, it's it's often kind of a I I stop to embrace or seen lots and see what restaurants catcher attention. But so if your ordering through one of those third party marketplaces, they take a pretty hefty percentage of the revenue from the restaurant. So we're talking twenty or thirty percent, which is enormous. Amazing. I know it's it's really it's nuts. I that's that's something that I didn't realize before. I started researching the subject. So there's that element of just trying to make it financially sustainable for the restaurant. But there's also the question of the relationship between the restaurant in their customer. So if I order, I don't wanna pick on digging I order from AAA or anybody else on one of these third party marketplaces, if the order is later, it doesn't show up oftentimes the restaurant doesn't end up hearing about that. And they've just annoyed a customer, and they kind of have no way of knowing. It went wrong are figuring out how to make it. Right. So it really is. You know, again, this is all about what percentage of your sales are coming from delivery. So when we were living in a world, where it was really just, you know, a really small percentage of your sales, you could live with the stuff, but once it becomes much more core part of your business model you need to start thinking about it. This is this is really the the way you want to interact with your consumers. So Elizabeth, and your and your reporting did you find that restaurants feel like they have to have a delivery option is that where the world's going even though the economics might not be there. Even though there's. Reputational risk to their restaurant or Brandon they feel like they have to be in that business. Definitely I think that if you I don't I don't think I spoke to a single restaurant. I'm trying to think of I spoke to a single restaurant. They said that they don't offer digital delivery meaning single restaurant chain or that they didn't have plans to do it or the pay plan. Just stop. I think you know, the all of the energy is really going into figuring out how to make it work. And I don't think there's anyone who believes that tried to buck the trend of the on demand economy is going to work for them. Well, and increasingly as you point out in this story, Elizabeth a lot of the to go back to the the apps for a second. A lot of the restaurants are essentially creating their own to control a little bit more of the processing control, candidly, a little bit more of the prophet. Elizabeth Bloomberg BusinessWeek writer joining us on the phone from Bloomberg the story, it starts with dig in and goes, so many more places. It's must read in this week's edition. Bloomberg businessweek. Also, they'll on the Bloomberg terminal and online, all right, Paul Sweeney. This was glad you are here to help me understand alphabet, which I feel like I understand in a whole new late. Now, they again, it was a very very good quarter for them. I mean, you know, they beat on on on the revenue in EPS. This is a revenue story, which remains very very strongest Jitender Worrell pointed out the end market is so big, and it's simply a question of managing the costs expectations. And that I think investors feel pretty good with this Ruth Porat who's a CFO of Google just done a wonderful job to.

Elizabeth Bloomberg yelp Bloomberg BusinessWeek New York City Bloomberg Jitender Worrell Domino Google Ruth Porat Paul Sweeney Brandon CFO writer thirty percent ninety minutes thirty minutes ten years
"bloomberg businessweek" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:11 min | 1 year ago

"bloomberg businessweek" Discussed on Bloomberg Radio New York

"This is Bloomberg BusinessWeek feel like Jason that at the end of two thousand eighteen one of the things that we talked about the year ahead summit. And so on in the magazine is we talked about the expectations high expectations for those big unicorns to become publicly held companies IPO's in two thousand nine hundred arguably the best known names sitting on the sidelines of the biggest privately held companies an Uber Airbnb all presumably lined up. But then there's a whole range of companies behind them to are smaller than them to wanting to get liquid as I say, okay. So we're talking about the environment for that aim just a moment. Let's get back to your top business headlines. And let's go. Get another look at today's closing numbers from Charlie Pellett. We'll happy Friday, you're both. We've got the Dow the s&p NASDAQ Russell two thousand doll- advancing on this Friday here for the week though. A four week winning streak comes to a halt the SNP dropping three tenths of one percent. But both the Dow and NASDAQ that's three continues five in a row Stotts advances corporate earnings bolstered confidence in the economy and President Trump said lawmakers did agree to reopen the government on an interim basis treasury yields rose the dollar weakened against most of its major peers Lincoln Alice's is senior investment strategist at Northern Trust. He was our guest today right here on Bloomberg BusinessWeek was interesting to watch during the press conference, the market's not actually react to news was breaking today. And so really now it's a it's a case of what happens on the political front, and what happens on that political front means a great deal for how investors alley. Kate capital for the rest of the year. Tenure down eleven thirty seconds yield two point seven five percent. Gold back above thirteen hundred dollars an ounce. Thirteen three this Friday at one point seven percent. Crude oil up by nine tenths of one percent. Fifty three fifty nine of barrel. Again, a move higher for US equities here with the SNP up twenty two up nine tenths of one percent. Nasdaq up ninety one up one point three percent Dow Industrial's up one hundred eighty three that is a gain of eight tenths of one percent. I'm Charlie Pellett. And that is a Bloomberg business flash..

Bloomberg SNP Charlie Pellett Bloomberg BusinessWeek BusinessWeek Lincoln Alice Dow Industrial US Jason President Trump Northern Trust Stotts one percent thirteen hundred dollars eleven thirty seconds seven five percent
"bloomberg businessweek" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

11:11 min | 1 year ago

"bloomberg businessweek" Discussed on Bloomberg Radio New York

"And Kusak. This is Bloomberg BusinessWeek with Carol Massar and Jason Kelly from Bloomberg radio, Carol the trade war manifest itself in many ways, the relationship between the US and China, and there are certain names that come in and out of the conversation. Z T is one we were talking about a lot many months ago. It feels like it faded a bit in the national conversation only because the national conversation moves so fast. And yet it is the cornerstone of what may come next in terms of technology, the US and China, and there's a story that gets into this and really just talks about the risks. Because of this year's China trade war for a lot of the big tech companies reporter, Joshua, Bruce Burstein takes us through some of the risks that are out there. So tell us about this story, you're curious when your editors came to you and said, especially because these companies as Jason said have been out there in the news for a while the in particular while way, apple in terms of the impact from. The trade wars. What was the mission? What were you setting out to do? Yeah. I think we have been working on this story for quite some time. And so when last spring company that I think some people had heard of few people really understood all of a sudden was a now announcing that it was basically at risk of going out of business because the US Commerce Department had done something to it. I thought that was a really interesting illustration of the way that the United States and the Chinese economies and technology industries are tied together in ways that we don't really understand and that create a lot of vulnerabilities, and I've just interesting wrinkles for the way that this tension is going to play out and Z T being an important, but somewhat misunderstood company a really understood company, I thought it'd be a good place to dig in. And just kind of look at some of those dynamics misunderstood about it. I really say on understood because that which is not a word, but I just don't really. Think it's a company that many people think much about Z T at one point. I think was like the fourth largest smartphone manufacturer in the United States. But it's like way down there. So it makes phones, but its main business is making telecommunications equipment the things that you put up to have your phone networks, which is made the US officials nervous other officials around the world, right because as communications equipment, you do wonder them, what access for this people who buy those components what access what kind of security might not be or might be at risk as a result of these companies have Chinese company making it, correct absolutely Z T and walkway which is the bigger Chinese telecom manufacturer, they are, you know, they're putting an equipment that power that networks in many countries, and they're both have ties to the Chinese state. And there are questions about are. They're going to be back doors and this equipment will companies be pressured by the Chinese government to do things. And it's just a sort of symbol of the discomfort that the west has with this sort of rise of China, and so that's absolutely dynamic. We're seeing it play out more now because as the whole world looks to transition from four G wireless technology to five G, wireless technology. There's going to be a global need to sort of remake all of these networks, and these two companies are going to hopefully for from their perspective be at the forefront of that before we get to that. I want to go back to something you said because I think it's really important. This idea of these are companies that have a different sort of relationship with the government that maybe people in the west are used to. I think you used the phrase state-owned private run, which I think for most people would be like, wait what how does that work, and is for all the reasons you and Carol have been talking about is very concerning in a lot of ways, and then you layer on candidate geopolitical aspect of this because selling to places like Iran is what really brought a lot of this to the four as well. Well last year, right? Yeah. Absolutely. There are a bunch of overlying threats to this story. Another sort of hard to disentangle in terms of the ownership of Z T. It is owned in part by entities that are owned by the Chinese government. Got it. There is a very complicated complicated org. Chart that sort of points that out, but no one really disputes that the question is what that means Z to says, look, the Chinese government owns some shares in our company that doesn't as not any different than someone owning shares an American company, and they don't have any state or they don't have any say in our day to day operations, etc. Exactly that is that's what they're saying. There's a lot of distrust about whether that's true. The Chinese state is one of the most powerful entities in the world. And there's a lot of skepticism from the American government and elsewhere that they are not even if they're not involved day to day that they had the ability to go in and make demands and we've had not come out and actually say that they did evade sanctions they've paid penalties. So they have kind of skirted the law, right? When it comes at least two US requirements. Yeah. Absolutely. And the way that a Chinese company ends up skirting US sanctions. By doing business with another company as I said, it gets complicated. Is that ziti relies on the United States for many of its components of its most important, some of the most important of inputs does ET equipment are US may technology. And so you're not allowed to take that US equipment and ship it to Iran, even if it's a Chinese branded telecom piece of equipment, and they did do that. And they did do that they admitted to it. They paid a very large fine in two thousand seventeen and then one point four billion dollars in two thousand seventeen it was as much as one point two billion dollars. But then a year later, it seemed like the seemed like the situation was over a year later, the Commerce Department came out and said you violated the agreement we had reached, and we are going to now put a complete ban on on your ability to import American technology, which looked like it could drive of business because it wouldn't be able to make its equipment at all and close to home here in the. United states. There's this company Z T's US headquarters down there in Dallas couple hundred employees who during that time period. Is you right? Didn't really have any idea. What was going on? We're kind of wandering around trying to figure out. What does this mean for my job? What does this mean for our company, and maybe not getting a whole lot of guidance from their bosses? Absolutely. I think when we talk about the US and China is such a big story that you always kind of focus on the most macro thing possible. Some of the most interesting parts of this for me. We're just like just hearing from people who are on the ground both in both in Dallas as you said or in CD facilities in China. And they were confused about what this even meant at was it a big deal. The people in Texas said they basically just stopped hearing from their bosses for weeks because they didn't know if their jobs would continue just seemed like a very surreal situation. I am also curious. Okay. So you've got that going on. You've got the. U S China trade wars, you have president gee in spraying basically saying we're going to do what we wanted to do. And we want to increase, you know, kind of our exposure to the high tech industry domestically. Right. Have our own domestic producers. So you have that going on? I mean, what does this mean of for big tax, especially when you have a week where are a couple of weeks ago. We had apple come out talk about the impact as a result of the US China trade war, essentially on what's going on with their China business. So I just wonder title up. What does it mean for some of these big tech companies? Yeah. So I think that there's two things we see for the big tech companies. This is the episode like the apple like the apple news that it was reducing new projections. Just point too the interconnectedness of these two Connie's in case all of a sudden, they didn't access to American technology, and that was a bigger deal than I think a lot of people realize in Apple's case, you know, the the Trump administration does things that were intended to harm the. Chinese economy it works and then apple ends up. Suffering and the US stock market is up suffering. So you turn one screw. And and something else moves over here. That's been I think I opening over the last year. And let's not forget while way because they play into this pretty dramatically the arrest of their CFO who also happens to be the daughter of the founder the arrest coming in Canada at the same time. Maybe a coincidence. Maybe not when President Trump and president Xi our meeting down in South America. Where does that stand him? What's the potential impact there? Yeah. I think that that whatever whatever whether it was a coincidence. Whether it was part of a strategy, it just points towards kind of the esscalation of this conflict. It's headed in it's headed up. I know there have been some recent efforts kind of temp that down there were talks this week. But you know, there's a lot of things that are pushing the temperature upwards on this conflict. And I think one thing they learned both from the arrest. And from the episode was that they should be counting on relying on the United States less than they are now, right which means making their own semiconductors president. She has made this a major. Priority of the Chinese geopolitical strategy, and I think that there's some concern in the United States that pushing China in that direction could end up being a long-term geopolitical problem because there's no plan that apple has to be less reliant on China. Apple plan is to sell more phones to China if China decides it's in its long-term interests to break off from the United States. It's bigger than the United States in terms of population. Long-term it thinks it's headed in a way that it will be the bigger power. And I think people are worried about you wonder if that codependency in the future like who who will get hurt more if that's broken off. And it sounds like especially as China develops its domestic industry more in high tech that it could be big implications for the US. Who knows there's plenty of pain to go. Right. Yeah. That happens. That's technology. Reporter Jesuit Bruce. Dean, I love this story impart because it really brought it home. I feel like the trade war were so often looking at this from ten thousand thirty thousand. Feet, but takes us to a suburb of Dallas in this office building where people were wandering around essentially wondering, what was going to happen with their jobs important story. It's the cover story. But it does also remind us about how global technology companies. They are really connected that wraps up the first hour of the weekend edition of Bloomberg BusinessWeek from Bloomberg radio. I'm Jason Kelly. I'm Carol Massar. Plenty in our next hour, including we get into pay this company. First of all this the pay pal, mafia. The folks that are behind this company. It's really a who's who of Silicon Valley? But it just shows the important strategy smart strategy to pay pal took to really grow the business. And Carol we go to Washington as we always do house speaker Nancy Pelosi, she's got a lot in her plate. She retook the speaker's gavel, but it's a different place. These days I gotta say one of my favorite moments of the week Shaquille O'Neil, he was in the house in our New York studio, we'd have fun conversation.

United States China US Commerce Department Carol Massar Chinese government apple Dallas president Bloomberg radio Jason Kelly Bloomberg Z T reporter Iran American government Texas
"bloomberg businessweek" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:39 min | 1 year ago

"bloomberg businessweek" Discussed on Bloomberg Radio New York

"This is Bloomberg BusinessWeek with Carol Massar and Jason Kelly from Bloomberg radio. So Jason this is what I love about our reporters here at the magazine that they can pull on all things from all walks of life to tell a story. And that includes the blockbuster online game fortnight to illustrate the evolving. Globalization trends that are underway. Who thought I did not see this one coming Shaun? Donovan really went up in my estimation. Many many steps I will be much more educated in talking about four nine in my neighborhood, Shaun Donovan joins us now from Washington fortnight global economics trade wars, you do it all how did you come upon this story? So all of my best stories come from my thirteen year old son. And that is that is a confession that I hope he doesn't see the. No at some point over the summer is my son was playing fortnight. He started talking about something that he and his friends were doing and that was gaming, globalization. He didn't call it that they were changing the server that they were using to Brazil or Asia to try and take on what they size weaker players kind of build up some wins and build some kind of teenage playground slash street credit if you will. And what he didn't realize what he was doing. There was kind of leveraging the internet leveraging the new form of globalization that all of us live with every day that kind of reminded me that we kind of forget that the new world of globalization is a very digital one. And it's one that's become kind of a not just a daily one. But it kind of hourly one that we deal with love and your story. I think our audience is going to resonate with them. You call it digital arbitrage that this is what kind of what they were doing absolutely there. They were they spied an opportunity to make some profits in the form of wins some easy prophets by simply changing the regions that they were playing. And it turns out that there was a whole cottage industry that has sprung up with fortnight in YouTube videos, and in chat rooms explaining these kind of tips and tricks, and my son and his buddies warned alone doing this that this was a real phenomenon that was happening around the fortnight universe. So let's remind people for anyone who's been living under a digital rock. Fortnight is a phenomenon. It was created by North Carolina company. And it's a multiplayer game where you start with keep me, honest here, Sean one hundred or so players, and basically it's a fight to the death, essentially, a virtual death as you, you know, squad up and do all sorts of things to essentially try and become the winner of each individual session. I have it mostly right? Yeah. You're doing a good job of dad's planning it. So. That's the key is this is an old fashioned shoot 'em up game with. The type of game that we've seen gone, but it's got all these great characters in it. It's got some fun dancing in it. It's a, but also importantly, it's free, and that's the big business revolution here. And that's what has turned this game out of the studio. North Carolina big games took global phenomenon. There are two hundred million registered users of fortnight. This is a country fortnight as a country that's bigger than Brazil and it spread around the world. There's a huge amount of money involved. And there's also, you know, there's there's there's an international side to to the business. Forty percent. Of of epic games is now owned by the Chinese gamemaker ten cent. Right. It bought in. Back in two thousand twelve for three hundred thirty million dollars in the fall in October KKR in a group of venture capitalist Baden made a one point two five billion dollar investment that eight hundred million dollar company that the tencent invested in two thousand twelve to fifteen billion dollar, plus company, Tim Sweeney. The founder is now on the Bloomberg billionaires list. This is a it's it's that game that old fashioned shoot 'em up game. That's become this kind of cultural phenomenon we've got pop stars. And all those baseball players that we're doing the funny dances last season. Dad's, right? When they when when they gotta hit. So it's become this big thing. But it's a huge business story as well. And what's interesting about it? You talk about kind of the digital flows that are going on. It's pretty pretty phenomenal. Yeah. And so I hate to get boring here. But that's the more serious point. Is that you know, that when we talk about globalization today when Donald Trump talks about globalization and taking on the global she often talks about in terms of steel or cars, well, really data is globalization is happening nowadays. And we have this kind of perception of globalization and retreat, in fact, it's kind of accelerating and vast ways, and it's not being captured in the economic data. There know there are players in Germany in Korea who are paying good money for for special skins on fortnight. That's how epic games makes it makes it it's money. It's threes, micro payments and those payments. Don't get just don't show up and global trade data. We kind of miss all of this. That's reporter, Sean Donahue, gave us a little insight that he's actually getting a lot of story ideas from his son. Listen, I am not above doing that as well. And I was talking about that story big time at home. And also when else do you get to use the term, dad's planning, exactly death planning? But.

Bloomberg Dad Shaun Donovan North Carolina Sean Donahue Brazil reporter Jason Kelly Donovan YouTube Donald Trump baseball Carol Massar Washington Asia Tim Sweeney tencent founder
"bloomberg businessweek" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:24 min | 2 years ago

"bloomberg businessweek" Discussed on Bloomberg Radio New York

"This is Bloomberg BusinessWeek so care one of the most talked about in tweeted issues of the day is the new just do it campaign the thirty year anniversary, featuring Colin Kaepernick, of course. And we're going to put some numbers around that coming up not just about Nike stock price. But another number sediba TS here about. Pretty much buzz. This is great. We actually put a number around if we're going to have ebben Novi Williams into Dallas about I will get to that in just a moment back to the world of business and back to Charlie Pellett guy. Thank you very much keeping an eye on Nike shares down today. Dropping two point nine percent. Sources say General Motors sales down about thirteen percent in August is the automaker pullback on sales incentives, especially for full-sized pickups, total sales result, which GM no longer reports every month to the public missed analysts average estimate for a decline of seven point seven percent. For meanwhile, reported a four point one percent increase in light vehicle sales in August, beating the average estimate for a decline of eight tenths of one percents Coveney's f series pickups continued to be popular with consumers four chairs down about two tenths of one percent. General Motors, by the way, down one point three percent. As for where the auto industry is heading in an era of electric vehicles. James Albertine is senior. Auto analysts consumer edge research. There's going to be a big resurgence overtime of hybrid is if you will vehicle not just pure electrics, but sort of internal combustion engines with batteries on board. Tesla plays into that demand. A lot within our coverage. There's obviously some PR issues that they're dealing with now. But you know, I think longer term that's going to be extraordinarily important piece of the puzzle. Mercedes-benz the world's largest maker of luxury cars is rolling out its first in a series of battery powered vehicles adding to a growing array of high end brands targeting tesla, tesla shares lower today by four point one percent equities Laura s and p down six down two tenths percent. The Dow little change down one tenth of one percent. Nasdaq down three tenths of one percent. Gold is down seven towns. The tenure down eleven thirty seconds yield there two point nine percent. I'm Charlie pelletan. That is a Bloomberg business flash. And thank you so much. Shelly pellet. You're listening to Bloomberg BusinessWeek. I'm Jason Kelly alongside Carol carolmassar on Bloomberg radio..

Bloomberg BusinessWeek General Motors Bloomberg Nike Tesla Colin Kaepernick tesla Charlie Pellett Novi Williams Charlie pelletan Mercedes-benz James Albertine Dallas Jason Kelly Carol carolmassar one percent nine percent
"bloomberg businessweek" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:13 min | 2 years ago

"bloomberg businessweek" Discussed on Bloomberg Radio New York

"Dot com This is Bloomberg BusinessWeek so we talked about affordable housing earlier with Peter coy economics editor interesting story that everybody's gonna have. To dig into in the magazine later on this, week was on the terminal yesterday believe it's available dot com that people should check it out because it it. Sort. Of juxtaposes. Nimby with Yembi yes And we're going to talk about. Affordable housing with our next guest, he's the CEO of Greystone and founder of harmony housing so we'll dig into. That just a moment he's also dead he wasn't he trained his dentist I just read that in his firearm we're asking about other things first let's get some headlines. Charlie Pellett and I thank you very much here's what's going, on the Dow the s&p NASDAQ all pushing higher. With the SMP up two points now higher by. About one. Tenth of one percent stocks trading records treasury yields, climbing as investors. Assessed the latest developments from the Trump administration's trade policies as for the Federal Reserve Phil Kemper Ellie is a, strategist at j.p Morgan investment management and he was, interviewed this morning on Bloomberg television the feds do, mandate is full employment and price stability. Price stability is defined. As inflation at around two percent and we're there now, what they said in Jackson Hole last week was that they're not necessarily in. A rush to be restrictive and unless we see, big upside risks to inflation they're not gonna move much past than your short but the fed is on this. Gradual Alpes three or. Four times. Per year and again. They told us that last year and. They're just following through with. Their, thoughts and right now we've got the ten year down eight thirty. Seconds with a yield of two, point eight seven percent west Texas intermediate crude down five tenths of one percent. Sixty eight fifty nine for a barrel of WTI gold down nine tenths of one percent twelve hundred eighty five the outs as some up two points up about one. Tenth of one percent the Dow up thirty five of one, tenth NASDAQ up two tenths of one percent and. Again just getting word today that sources say Amazon. Is looking. For ways to offer more films on its screaming, service has it. Discusses co-financing movies with at least two major Hollywood studios in exchange for certain online rights I'm Charlie Pellett and, that is a Bloomberg business flash you so much, Charlie Pellett with a Bloomberg business news flash Carol, Massar Jason Kelly this is Bloomberg BusinessWeek.

Bloomberg fed Charlie Pellett CEO Peter coy Gradual Alpes Phil Kemper Ellie Amazon editor Texas Trump administration j.p Morgan Greystone Jackson Hole founder Hollywood Carol Jason Kelly
"bloomberg businessweek" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:42 min | 2 years ago

"bloomberg businessweek" Discussed on Bloomberg Radio New York

"And three in the night struble cabrera and tom frazier also homered for a second straight game the yankees needed a rally in their final at bent friday to pick up a win after our oldest chapman lewis i save of the season and the top of the night miguel do hard stroke to to rbi single to give the yankees seven six win over cleveland starter cc savannah earned a no decision after enjoying another dominant start aaron judge gary sanchez and glacier torres all homered for torres the first of his career the yankees have now won thirteen of their last fourteen and remained one game behind boston there is a new member of baseball's three thousand hit club albert pu holds the angels dumped a little flare into right field off seattle's mike leake to become the thirty second player to reach the milestone nhl playoffs tampa bay defeated boston four three in overtime to take a three games to one lead in their semifinal series nba playoffs new orleans defeated golden state one nineteen to one ten the warriors now lead their semifinal series two games to one tiger woods made his only birdie on his final hole friday in the wells fargo championship at charlotte an eighteen foot putt on the par for nine hole but assured that he would make the cut would finish nine shots behind leader peter manati and the dolphins claim cornerback bryce petty on waivers from the jets will the bloomberg sports update i'm tom rogers this is bloomberg businessweek from bloomberg radio he wanted equality for everyone that's what the bloomberg businessweek business of equality issue is about our focus this segment how to break nondisclosure agreements confront offensive colleagues and file a complaint with the eeoc mary pylon wrote the guide and joins us now samir let's start talking about what your stories about nda's nondisclosure agreements i mean this is not something new they've been around for a long time in a lot of different industries right so when i started talking to me editor about this piece months ago we were we thought it was kind of this niche topic and then it exploded and we had to really rethink how we were going to pressure because it became that much news either so people know andy as they're they're really ubiquitous in silicon valley and wall street and basically it's a bunch of fine print that says you're not going to talk about the details of a settlement or maybe a.

mary pylon andy samir bloomberg businessweek bloomberg bryce petty nba nhl albert pu glacier torres aaron cleveland tom frazier editor struble cabrera tom rogers jets dolphins