35 Burst results for "Bloomberg News"
Shoppers spent record $5.1 billion on Thanksgiving
"And I'm Susanna Palmer in the Bloomberg News Room. Thanksgiving Day meant more than eating Turkey for shoppers online shopping surged, according to John Copeland, Adobe vice president of marketing and consumer insights. We saw $5.1 billion spent. That's a new record. 21, a half percent increase over last year. On the same day, Copeland says $71 billion had been spent in the run up to Black Friday as retailers brought black Friday deals forward. To make up for the expected
European countries prepare for Covid vaccine arrival
"To spread more and more hope is focusing on a vaccine. That means a lot of work on distribution even before any vaccines when approval boxes Simon Owen is live in London. At least a European countries are making plans for vaccines in Germany's capital, Berlin, officials say they'll convert a concert arena to airport terminals on an ice rink into giant vaccination centers. Each able to handle up to 4000 people a day. Friends says vaccinations could begin next month, but in the meantime, Europe is still trying to combat a second wave of infections. Germany and Greece are among the latest countries to extend lockdown restrictions. Lisa meantime, Simon, the CEO of AstraZeneca, just telling Bloomberg news they'll probably run another vaccine trial to test an accidental lower does that left lingering questions? About some of their results. President elect Joe
Who's In Biden's Cabinet?
"Elect Biden's Cabinet is starting to take shape ahead of tomorrow's official announcements. We're learning some some of the key names that will lead national security efforts during the Biden administration. Joining us now, with more details is Bill Fairies who leads our national security team here? A Bloomberg News All right, Bill Tony Blinken to secretary of State. Who else do we know is going to be in on the national security team. Kevin. Well, thanks a couple other key names Jake Jake sold on. It was one of Hillary Clinton's closest aides is expected to be named national security adviser. And and we also believe that Linda Thomas Greenfield, who was a longtime State Department employee, almost four decades at the State Department before leaving Early in President. Trump's term is likely to be nominated ambassador to the United Nations, So there's also a lot of other names out there. But those are those are three key names we think are coming tomorrow
Amazon launches its first Amazon Air regional hub in Europe
"Scaling up its air operations in Europe. They're going to launch a regional air hub in life sect in Germany, where they will have a 20,000 square meter regional cargo hubs. Philip wrote the story for Bloomberg News. He says. Amazon is beginning with two leased Boeing 7 37 freighters you the plane's emblazoned with Amazon on their side flying across Europe justice within them across the U. S. Where Amazon already has a major air operation in the U. S. They have a feud about 70 aircraft that includes 767, which are quite about it plain as well as 77, which on everybody plans that they can use between smaller tub move also gives Amazon more flexible delivery options would help them. Mr Reliant on other service providers like FedEx and UPS and other Ed cargo suppliers, Amazon has been expanding its aviation logistics unit taking advantage of a depressed market for aircraft from the Bloomberg
An index of small-cap stocks just notched its first record-high close since 2018
"Look at some of the stocks on the move and the sectors of the move on Carol Master along with Bloomberg News process that reporter Sarah Pounds Act, both of us in our Bloomberg Interactive Brokers studio. Let me just do big picture. Definitely risk on trade 473 names in the S and P 500 higher today 31 lower to unchanged And if I take a look at those major industry groups in the S and P 500, there are 11 all of them up. For the day energy at the top of the pack of 3.8%, followed by real estate of about 2.3 bottom of the pack information technology, but still up about 9/10 of a percent Sarah Ponds Act, Man, It wasn't the week. Well, maybe it's starting more like the week. It's ending. More like the week it started. See, that's what kind of weak it's been, and there's been a lot of stuff in the middle, right. We have come full circle. Granted, Today's moves were not as drastic or as large as Monday's, but they were reminiscent of them in the middle of the week. We saw that Monday rotation, Fayed was attacked, Take the lead once again. That was not the case today. At the end of the day, we just heard it. Russell 2000 more than 2.3% today at a record high. This is the first record high for the Russell since 2018. We had not seen it. It really is. It's been got. It's getting close, right and just never breaks it right, exactly exactly have been getting close. But we have not been able to see small caps really breakthrough. While today was the day also a record high for the S and P 500 today, as well as the equal weight version of the S and P, So we're seeing breath come into this market. Well, that's what I was going to say. What's the significance about the small caps in the large caps right to see the Three indexes that you just put it point out there all hit records. So the idea is that sure you can see the SNP it records. You can see the NASDAQ hit records, but they're very, very top heavy. So what that means is that it's really representative of just a few stocks, many of them tech thing, names all year long pulling higher seeing Russell 2000 at record seeing the equal weight version of the S and P. It records What this shows you is that it's not just a couple of stocks pulling you hire. Rather, it is many more and you are seeing more participation, which is seen as a healthy climb. What's the fundamentals behind it? You know, it's a great question. So a lot of hope this week on the optimism over the visor vaccine is truly It's unbelievable. When you see these stark comparisons between the Fizer vaccine news, then you see Record covert 19 cases. You see restrictions coming in what the reality is and what investors are saying is that the vaccine news helps you look beyond all of this. That helps you realize that there will be an end. At some point. I hear it all The time. Markets are forward looking mechanism, and that's exactly what they're trying to do what you got visibility right? And even if it's still a few months away, or maybe it's into next year well into next year. At least we have an idea of when this will end versus some of the conversations we had earlier this year when we like We don't know. We just don't know
Profit jumps 82% at Buffett's firm but virus hurts business
"Warren Buffett has gone from shying away from buying stocks back to being one of the world's biggest re purchasers. Buffett's Berkshire Hathaway spent the third quarter buying back about $9 billion worth of its own stock more than it had repurchased in any full year in its history. Catherine She Glinski covers Buffet and Berkshire Hathaway for Bloomberg News. In recent months, we started to see him find other ways to put the capital to work. He's made a big bed and Japanese trading houses. He's Berkshire has taken stakes in snowflake. Um, and now we're seeing him say, Hey, I'm willing to put a lot of money into work in stock repurchases. I think that really shows that you know, he is seeing some value in Berkshire zones prospects. Berkshires. Operating profit dropped 32% heard by the insurance units first underwriting loss since the end of
Profit jumps 82% at Buffett's firm but virus hurts business
"Has gone from shying away from buying stocks back to being one of the world's biggest re purchasers. Buffett's Berkshire Hathaway spent the third quarter buying back about $9 billion worth of its own stock more than it had repurchased in any full year in its history. Catherine She Glinski covers Buffet and Berkshire Hathaway for Bloomberg News. In recent months, we started to see him find other ways to put the capital to work. He's made a big bed and Japanese trading houses. He's Berkshire has taken stakes in Snowflake on DH. Now we're seeing him say, Hey, I'm willing to put a lot of money into work in stock repurchases. I think that really shows that you know, he is seeing some value in Berkshire zones prospects. Berkshires. Operating profit dropped 32% hurt by the insurance units. First underwriting loss Since the end of 2019.
Comparing Trump and Biden's plans to end the COVID-19 pandemic
"Biden ends up winning the presidential election, he'll have plenty of campaign promises to live up to that includes lofty goals. The former vice president has said he'd get started as soon as he's sworn in. If I'm your president on day one. We'll implement the national strategy I've been laying out since March would develop. And deploy rapid test with results available immediately. Five the honor of being president. I will end the Muslim ban on day one. I'd make the changes on the corporate taxes on day one day one I'm sending to the United States Congress, a immigration bill providing a pathway for 11 million undocumented, and I'm gonna make sure every dreamer is protected. I'm gonna have to wait and see whether a potential Joe Biden administration can actually hit the ground running on all of those policies for more. I'm joined by Jennifer Epstein Political reporter covering the Biden campaign for Bloomberg News, Jennifer Thanks for being with me. Thanks for having me. President Trump has downplayed the severity of the Corona virus, even after contracting it himself. But Joe Biden said he'd make some big changes if he became president. What would he do differently? It goes from from everything from encouraging mask wearing by leading by example on that, as he has during the campaign wearing a mask himself. All the time, except for when he's kind of out of microphone, socially distanced from anybody else on stage, launching a whole of federal government response to the pandemic that Would be aggressively different. I think than the trump planet he would not be fighting with from the scientists. He would be listening to them, he has said. Deploying the resources of the federal government. He plans to use the Defense Production act more aggressively than President Trump has to kind of get industry to do its part, whether it's with Peopie production. For vaccine production down the line. He has a plan for the distribution of the vaccine, even just it in defending the affordable care act. He says that that will make Vaccine distribution easier and free and also will protect people who end up having long term health. Issues because of their covert cases, long issues or or whatever else So it really is A is a pretty comprehensive approach. Um, that touches on a whole lot of different areas. I think you know it's the public health response and then obviously also an economic response. He says that he will Talked to governors and mayors. About mask wearing to try Tio encourage them, Tio put in their own mask mandates. Hey, can't you know really order a federal mandate kind of some of the stuff that the trump people have said. But he can certainly encouraged mask wearing as I said, before, it seems like he really just wants to bore down in every single area where that the government can help fight. This pandemic is kind of a piece of what he plans to do. Joe Biden would also inherit a Jennifer A. An economy right now that has been battered by the cove in 19 crisis We mentioned at the top of the show that AH eight million Americans have been pushed into poverty. People are scrambling to keep their homes to put food on the table to find work that may not return. Since this pandemic has taken hold of the country. Does Joe Biden have a plan for dealing with that economy should he inherited asked becoming president. Yeah, he does. He has this economic plan called Build back better, which is a couple trillion dollars of spending. Ah, that's meant to stimulate the economy. I think It will depend a little bit on the results of the election. Whether Democrats when the Senate if he wins the presidency, and whether there's any activity during the lame doc session of Congress on the House and Senate, Canon and the White House can agree. On stimulus. You know a couple of trillion dollars stimulus spending now through the end of the year, or if people are going to continue to kind of be in need and and the government not act in which case after Inauguration Day. Biden would move very quickly on Ah stimulus bill. I think that the size of it is still to be determined and how much of that Polls on some of the ideas that are in his gold back better plan, which are things like clean energy, spending, health and homemade at a nursing care and and things like that, which I think you know, a lot of people would say are badly needed during the pandemic, so will depend on sort of what happens. Before he were to become president. But there is definitely intention to either add to whatever has done during the lame duck session this year or to come through with it with a bigger plan than the couple trillion dollars that's being talked about. Or had been been negotiated a bit between Nancy Pelosi and the administration in the last couple of months. This
Another Halo Infinite Director Leaves The Project
"Turbulence continues on Microsoft Corp.'s Halo Infinite video game with the departure of the. Projects Director Christly who oversaw production of Halo infinite at three or four three industries, which is developing the game for Microsoft is no longer working on it. He confirmed a Bloomberg News on Wednesday lease the second top director on the project to leave in the past two years. Quote I've stepped back from infant and I am looking at future opportunities. Lee, said I believe in the team and I'm confident they will deliver a great game in which is a good time to step away for me to step away. The highly anticipated. Next installment was originally slated to come out alongside Microsoft's launch of its next generation xbox cities council in November. The game was delayed in early August however following poor fan reception to an early public version lease role was sidelined a few weeks later as Microsoft. Veteran Joe Staton to lead the single player campaign and another senior executive Pierre Heintz to run multiplayer Lee has been three or four three industries since two, thousand, eight a year after its founding overseeing the halo series since two thousand sixteen, his title Has Been Partner Studio head quote Christly remains a Microsoft employee and while you step back from Halo. Infinite right now we appreciate all he has done for the project to date Microsoft said in the email statement. The development of Halo Infant has been rocky in August, twenty, nineteen, three or four three industries lost its creative director Tim Longo, an executive producer Mary Olson at the time. The company said that quote, the overall creative vision and production of the game remains led by Chris Lee and quote. Pushing the Games. Release beyond November was blow for Microsoft which was relying on the game to help sell new xbox consoles in the holiday season retail boxes for the xbox series. Still feature artwork of master chief. The main character of Halo Halo doesn't currently have a release date, but three four three has said it will be out next year.
"bloomberg news" Discussed on KNST AM 790
"Welcome back. It's great to have you with us, Rush Limbaugh or an A E. I be network and here we are already in the hump Day, middle of the week. You get this day over with and behind you. You are therefore, over the hump three days down two days to go if you weren't the traditional five day week. IBD tip Trump now ahead of where he was in 2016 0, But before I get to this, there's something I've got to mention. First. I need to get this out of the way. I saw a story yesterday afternoon after I got home of the end of the program. I didn't believe it. I did not believe this. But I I I had to because it was Bloomberg News headline. Trump pulls Florida ads is Cash Poor campaign Anders final weeks is also make any sense. To May. And starts off by saying Boy Buoyed by fundraising. Biden holds 321 edge in recent spending spending Big warp. President Donald Trump's campaign is all but pulled its advertising out of Florida. As it stakes. It's relatively small bank account. On the industrial northern states that carried him to victory in 2016, not well. Tim Murtaugh of the campaign was livid and put out a statement. In the form of a tweet. At five o'clock yesterday afternoon, saying the Bloomberg story about the Trump campaign ad buying is horribly wrong. It must be retracted its wrong in every aspect, not even a call to the campaign to check it before they published They used quotes from me taken from a conversation on a completely different topic. This is sloppy reporting it behind its voter suppression folks. It's no different than reporting polling data showing Trump losing ground hopelessly behind. It's nothing more than voter suppression. All this covert knows is voter suppression. Rampant number of new covert cases, always designed the scare you into not going.
"bloomberg news" Discussed on KLBJ 590AM
"Welcome back. It's great to have you with us. Rush Limbaugh and E. I be network and here we are already in the hump Day, middle of the week. You get this day over with and behind you. You are therefore, over the hump three days down two days to go if you weren't the traditional five day week. IBD tip Trump Now ahead of where he Waas in 2016 before I get to this, there's something I've got to mention. First. I need to get this out of the way. I saw a story yesterday afternoon after I got home of the end of the program. I didn't believe it. I did not believe this. But I I I had to because it was Bloomberg News headline. Trump pulls Florida ads is cash poor campaign enters final Weaknesses doesn't make any sense. To May. And starts off by saying Boy Buoyed by fundraising. Biden holds 321 edge in recent spending spending Big warp. President Donald Trump's campaign is all but pulled its advertising out of Florida. As it stakes. It's relatively small bank account. On the industrial northern stage that carried him to victory in 2016, not well. Tim Murtaugh of the campaign was livid and put out a statement. In the form of a tweet. At five o'clock yesterday afternoon, saying the Bloomberg story about the Trump campaign ad buying is horribly wrong. It must be retracted its wrong in every aspect, not even a call to the campaign to check it before they published They used quotes from me taken from a conversation on a completely different topic. This is sloppy reporting in behind its voter suppression, folks. It's no different than reporting polling data showing Trump losing ground hopelessly behind. It's nothing more than voter suppression. All this covert knows is voter suppression. Rampant number of new covert cases. Always designed this scare you into not.
Ant Group to raise $34.5 billion, valuing it at over $313 billion, in biggest IPO of all time
"Jack Mas and group It's expected to raise about $34.5 billion through an I P s right in Shanghai and Hong Kong on here's a little perspective for you. That's about the same valuations. JPMorgan Chase four times larger than Goldman Sachs. How about that? Let's get more on this company and why it's cornering so much attention, and it's rolling the global financial landscape. Bloomberg News deals reporter Crystal seas with us. She's on the phone in New York City. Crystal good to have you here with us. I mean, this is a blockbuster. Yeah, it's the biggest Theo As we expected. You know, a Ramco last year to be the big hero turned out to be a 29 billion dio. And in here we come 35 billion, so this really would be the biggest deal. It would be a monster deal. Why do people want to invest in it? Where's the appetite coming from? This's a story of a very much for player in the fintech space and all these impact player. It is a competition like that in this papal pasta then, but a plus the J. P. Morgan Really. It has a lot of influence in China because somehow take over the shares. Market shares. Traditional banks Path popular in China. And Ollie paid, which is the product that and operate with. It's probably the biggest player in China, so I mean that it's on Alone just share volume that they process gives them the valuation and this race that they could justify So Krystal is it a company that will continue to dominate in China and in Asia specifically or did something a company that we're going to see spread throughout the globe? Ultimately, Interestingly, 40% of the use of proceeds is actually going to be used for overseas payment extension on DH, although that's sounds like they're expanding out of China. Very much focused on Chinese customers. What it really means is that they will try to extend into merchant In in in places where Chinese tourists like to visit like, You know, when you go, too, I guess like the husband yard. When you go to Paris with me, you will feed a luxury stores with on Ali pay Q R code so That is that is what they want. That's what their expansion is focusing on. But it's very much so a China Pacific play and not even within Asia is very much a China. People play well on Krystal. It's also a Chinese listing. I feel like it's not lost on any of the US any of us that this wasn't a US listing. They're not on the nicely. They're not in the NASDAQ. They II Po'ed in Hong Kong and Shanghai. I'm assuming in large part because of the scrutiny Chinese listed firms are under here in the U. S. But How significant is it that this thing did not price in New York City? He has the biggest. Whoever is not a U. S listing is also is the Chinese company that is listening in China and Hong Kong that the concurrent listening It's interesting. This has not been done before. Some companies have tried Teo a simultaneous thing. And will be the first to pull it off. But more importantly, Andi Ali pay and we have. Hey, we're under White House scrutiny just last month. White House is trying to ban both products and the US So I think that just that also explains why us It's not a friendly environment for this idea. Yeah, are we expected to see in a tiara at any point? It could happen, but with 35 billion. I don't think that is the immediate next after them.
"bloomberg news" Discussed on WTOP
"News 25 55 now to Charlie Palette. This is a Bloomberg money minute. Your local neighborhood coffee shop made disappear as cove. It jolts the industry. We're gonna be the biggest drop in specialized coffee shops that serve coffee in TV since 2011 almost 2000 shops will close, Marvin Perez wrote the story for Bloomberg News. And he says it's not just because Americans are staying home. Many a unemployed in typically, coffee shops can be a little more pricing. And obviously, people are still being cautious about getting infected with a decision also trying to save money, But the pain will likely not extend toe. Bigger coffee chains, for example, has been enhanced thing is drive thru format. So there's naked with this waiting time and also the RNC alienating their their pickup concept. Which is his mother, Forman, start with a table thing. Chairs, so coffee shops or joining movie theaters, concert venues and retailers in the list of businesses decimated by Cove it from the Bloomberg News Room. I'm Charlie Patan. W T. O P and coming up on w T. O P the nation's top infectious disease expert outlines a timeline for a Corona virus vaccine. 11 56 Pepco launched the Capital Grid project to build a stronger, more reliable and resilient energy grid project provides safe and reliable energy in a modernized system that Khun better withstand unforeseen events such a severe storms. It will also support renewable energy and economic development across the district. We will install 10 miles of underground transmission cables from Tacoma to the southwest waterfront. We'll also upgrade existing substations and.
Washington DC kids make the most of the Halloween season amid pandemic
"Money minute. Like most things in 2020, this Halloween will be different. Any Americans will be on the couch costume look. No parties retreating in Curry liberal reporter Nick Carrillo says costume makers will have a tough time. A lot of costumes. In a normal year are purchased by young adults and people going to Halloween parties, and those are largely off the tape. Sales of kids costumes may hold up better, but there will be candy, Carrillo says. Instead of the kids bring it home grown ups will buy for themselves and candy makers are adjusting whether that's keeping their candy themselves longer. Or maybe moving away from seasonal packaging. There's left discounting candy as we move into November for candy makers. Halloween is a big deal at Hershey. It's 10% Of annual sales, Carrillo says it may open a window into the broader economy is probably a really telling sign as we move into the Christmas and holiday spending season. How much people are willing to spend on skis and decorations and things like that from the Bloomberg News Room. I'm Larry Kowski on w T O
Apple unveils new iPhone 12 that is 5G capable
"At Ludlow. Apple is showing off its latest line of new iPhones at its big virtual event today, So Ed, give us the details. Yes, A For new iPhones, the broadest range of screen sizes inspects the Apple's really done in a new generation release and at their center. Is that they are all five g capable, which is the thing we've been waiting for. Right? There's been a lot of marketing from all the stakeholders around the advent of five g and the faster speeds. Connectivity data downloads that that will bring, But what we got was the iPhone 12. It's $700.799 dollars 6.18 screen also an iPhone 12, many, which is $699.5.4 inches, and then what Apple did, of course, was being pro versions of the 12, which it did with the previous 11 generations to the iPhone. 12 pro starts at $999 on Then there's a iPhone 12 pro Max, a bigger version $1099 with a 6.7 in Scream, which is Apple's largest ever display, and they've made sort of efforts to update the technology beyond five G connectivity is well, we see, you know significant updates when it comes to the camera technology. Apple is using its own for a 14 process. Er, 50% faster speeds when it comes to processing. And they've made some redesign as well. You know, in recent generations, the iPhone we've kind of been used to these kind of curved sides, but they've squared them off on. They've also in the highest spec models introduced Lied our technology to the camera and some advanced camera capabilities around video recording on photos. So you know this is Very broad range of new generation is kind of like something for everyone Eyes. One analyst described it to me. It's like walking into the ice cream store and having all of the flavors available to you. There is going to be a phone that you want, but really it it's called. The thing that Apple is really banking on is that this five g connectivity will spur hundreds of millions of us around the planet that have older generations of iPhone. Upgrade to use a five G version because the people with five G will be experiencing what better phone calls better Internet. So the idea goes. They think it's the Apple says that it's tested five G in Mohr than 100 markets around the world, and that it's found that it does give faster speeds for downloading data. And said, the speed is one thing hypothetically. It would also because of the data Cassey give you the ability to do functions which we can't yet do of our phones. In practice, however, It's not so clear if that's going to be the case. We know that third parties tested five G markets here in the US, for example, and they found that the speeds that came with it and the connectivity was not that much greater than existing for G lt can activity. Sources also told Bloomberg that's some Apple employees who were testing this new generation of iPhone. Actually found themselves that undercurrent US five G networks, the speed and the connectivity wasn't that great? Much greater than 40. And lt anyway, so that is slightly concerning. But as we know, you know, Verizon is kind of leading this wet leading the way with it and T and T Mobile as well investing and spending time and building out five GS infrastructure in this In this country. But, of course, another big market. Apple is China, where almost a third of phone sold a five g compatible that five GM destruction. There is much further ahead here in the U. S. You know five G phones from Samsung and Google, which read the existing offers on the market. They only account for a tiny fraction of handsets out there, so it is exciting. Five G is expected to be a big drive of Apple in terms of people upgrading. But right now it's still a little bit in the infancy in terms of adoption, all right, thanks very much for the time. We appreciate it. That's Bloomberg News reporter at Ludlow you can hear are checking business report weekdays at 12 30 on KCBS and for more
Boris Johnson wants to 'Build Back Greener'
"Know at the top of the show we heard how British Prime Minister Boris Johnson promised to build back greener, and it's have you that the International Monetary Fund subscribes to ahead of the annual meeting in Washington. This month the IMF told its member governments. They can create millions of jobs and boost recovery prospects if they use higher public investment to respond to the severe economic challenge posed by Corona virus well, actually brought he's a climate and energy reporter at Bloomberg News joins me now to discuss this. Actually what is a green recovery and why do economists think it's the right way out of the current recession. Typically economists are looking to be able to create jobs in times of recession, and it happens in two phases. After an immediate shock economists inject a lot of money into the system to be able to allow for rescue. So a lot of people will become conservative of won't go out and spend money or they may lose their job and may not be able to make the rent next month or the mortgage next month. and. So you need to do the rescue. I what comes after that is once the economy starts to get out of the bottom and needs to go up. That's recovery comes in and what economists find is that for about every million dollars that a public money that is spent you can create between two and ten jobs. In the infrastructure space and that is why IMF has come out with the statement. This week saying that if government spend a lot of money on infrastructure than they are going to create a lot of jobs and a lot of jobs good for the economy Chris here is that they wanted to be green infrastructure because we want a lot of green infrastructure going forward. Are Any countries actually doing this. They are what happened early on is that we had to wait to get a signal from these countries to understand whether they've moved on from the rescue as into recovery. When the earliest countries to do it was Germany Germany put out a one hundred, thirty billion euro package that was all tied to green infrastructure. So renewable electricity, clean hydrogen subsidies for electric vehicles, EV charging networks and this has been then followed up by the EU which has put five hundred billion euros. Now, we're going to expect that as you talked about Boris Johnson that will expect some of that money coming through in the UK as well, and if Joe Biden President, he has a promised that he will push for green recovery in the US. What. Then would agree in recovery look like. So in in. Principle the thing that has changed from the last financial crisis is that this time around alternatives to fossil fuels are actually cheaper and governments will used the money that they have in hand to be able to spend that money into projects like renewable energy. But also things that we've probably not spend money on for a long time but we. Should be so that would be either repairing roads and bridges are really retrofitting homes with more energy. Efficient windows are ceilings so that you can reduce your energy bills, these old sound set of boring things, but they are really important to be able to cut emissions, but also bring in lots and lots of jobs, and that's exactly what we need right now Just cookie on Boris's bars Johnson's plan. How realistic is that? It's it's very realistic. So one of the things that has changed you know the big promise he has made is about building lots and lots of off-shore wind turbines. Offshore Wind was considered extremely expensive probably ten years ago and it's It's prices have come down and it's costs down really rapidly partially because we've been subsidizing subsidizing here in the UK. But also generally across Europe the deployment of these technologies and what we. Know again from economists, is that new technologies follow something called a learning curve for every doubling off the amount of the technology deployed out in the field you get a certain reduction in cost, and so the foster deploy it, the foster costs fall and what bars Johnson has recognized is offshore wind is now ready for the big time
"bloomberg news" Discussed on The John Roa Show
"No one. Got Challenge. They would always say priebus wrong because it was eighteen twenty. You have those outside of. Social media of the time. And what happened in the end people against drift towards things they trusted and I think a lot of people do that if you hopefully. Berkeley, we answer part of that. We we we provide factual news of people papered. I? Think they're gonNA miss that lots of other. Magazines and newspapers which have done quite well out of this particularly now that they're making money charging. She you may know entirely like judging charging people brew because news value. So, that's part one is I think everything's always changing I've learned suggestions trying to find technology is almost entirely pointless. I would also this golden age thing. Many. People especially people on the liberal side since to look back towards in age when when when they the? Truth is more clearly defined lying. There was a big bunch of people in America conservatives who didn't hold together like the three networks they will what she made together like what they were getting pbs. So one person streep is always exactly someone else's. At the break good question about repetto saying that he was a genius because when he set up folks newsy spotted this tiny sliver of the population the no one else responsible, which is around thirty five percent of Americans own selves conservatives in they didn't have something. So they gave it. So people the the new version of journalism. Yes. There difficulties Fred, but there's also is you get news from many different places sort of program Yo- doing now would be impossible. Shum. And the a short while ago. And on the whole good things tend to rise I'm with you but it seems like you're incredibly optimistic when a lot of issues have been identified be it. I was being more optimistic than you're that does. I think at the end of the media where I operated my life which tended to be the quality of the media..
"bloomberg news" Discussed on The John Roa Show
"So a lot of believers who said you're being news not highly bad. But I won't go in there. A lot of other people who said I don't like you're much but I'd rather stay. So there was I think slightly more. Yes. But Rosa fanatics in remember there was a Labor MP was actually killed in cold water days I wouldn't so bizarre devices it was calm rational person and I think actually particularly off to the votes when the vote happened. I think the level to which people fell out was at least possibly in some way I've never seen. Burson. So ribbon into off the remain side lost because everyone expected them to win the Sunday people wake up. Especially the young woke up to the idea that world is changed I think of America the moment in does go quite a lot the sense of. What America at probably more so than Burson is a country where there are some bits which worked magnificently well, and they're all the bits which don't. Look at the private sector in. America you look away the country's Google facebook Amazon things they are amazing companies we can question in occupied monopolies. But by any measure, America's an amazing record of creating. Those sort of things public sector you see a much. Much. Less to thing. In. The book began with the reason why we pushed it because you have you kkob it arrived was a government. An American incredibly badly, it's almost as bad Bush some ways. But by contrast, the private sector is inventive..
"bloomberg news" Discussed on The John Roa Show
"Been reading up quite a bit on what you've been up to, and I can't wait to hear some the perspective that you can share with us because. You know the most interesting thing that I read about you is that you are a student of history, Anna Journalist, and at least in this country, those are two things that are under fire and under attack at the moment and and that's got that's got to be a strange place to to have come over across the pond and do what you're doing and have the influence that you do the journalistic media sphere in be fighting the two hours battles. I can think of in terms of what you focus on and what you care about all. Day. So I WANNA frame the conversation around those battles and what's going on here but I want to get us there by way of learning about you. So we talk a lot about this show is success roller coasters to success, and so to kick off, I want to hear a bit of your tail, your story and how you have ended up in an incredibly influential position with Bloomberg Your path through economist in coming up through the worlds of history and journalism in the UK. I was lucky. I went Oxford dogs that I worked hard together. I was mildly useless and I was extremely lucky that a friend told me that the economist were looking for people just at the time nine, hundred, eighty, seven than the economists losing a of people. To, the city because the was doing very well. And I was perhaps not the world's most successful banker but then averaged trial these economists liked it. And I ve very luckily join them. About two months or three months before black Monday. When the stock market crash my stay. On I status the time as you said eventually becoming. Editor and then I moved to Bloomberg I think you're I think but strangely I think history I wish I had studied more history when I was at university I was Lazio and I should be. But I think the combination history in journalism is quite a good one. prince in the current book in the wake up call, we combine industry because we think history helps explain Americans why America's Wanted to West rose you can't understand where America is now without Sunday thinking that five hundred years ago China was the world's by his country. Right history does matter. You can explain the things that I could not agree more Elysium, is also I think actually up in Sephora Straw draw of history something say much the books we burson suddenly have tried to makes bits of history trying to give people context about why we've come to where we've being with repechage about what's actually happening. Now, those people have more intelligent perspectives. So a scientists sort whatever I think there is a role for that I think one the sadnesses about the west at the moment is people don't particularly understand..
"bloomberg news" Discussed on Newsradio 1200 WOAI
"Corey is live. Bloomberg News desk. Charity stocks have said open sharply lower today. Let's look at the futures down futures down 541 points. NASDAQ indicator Down 1 76. M. E S and P Futures are down 55. It's not just in the US dogs over Caesar Lower in London down about 3.3%, you know, uber used to be a serious contender in the race to build self driving cars. But today the effort is lagging other companies. In fact, some uber investors are getting nervous about the rationale for continuing a long term project that isn't helping uber become profitable. Sources tell Bloomberg Fox is willing to spend as much as $2 billion a year just to maintain its rights to NFL football games on Sunday. That would be a huge increase in its current contract right now, the Dow futures down 543 points Live with the Bloomberg Business Report. I made Korea NewsRadio 1200 Wook, I think said, Get the latest news any time anywhere. Just tell your voice activated. Smart device to play news radio 1200 W II an I Heart radio I'm charity McCurdy NewsRadio 1200 W Away. I now traffic and weather together from the orchard dot com Traffic Center Highway. 90 is running well on the eastbound side from 1 51 over the I 10 currently a four minute drive to 81 if you're traveling Out there between stone. Oh Parkway and I 35 should take your right at about 15 minutes for that trip. If you have to see any traffic problems gives a call on the tip line to a no 75 26..
The Federal Government to outline plan for equitable distribution of COVID-19 vaccine
"Federal government is outlined a sweeping plan to make Corona virus vaccines available for free to all Americans in a report to Congress and published in a playbook for states and localities. Federal health agencies in the Defense Department sketched out a plan for a vaccination campaign to start in January, ramping up to each American to reach any American who wants a shot. The problem with this is that in an Associated press poll taken earlier this year, only about half of Americans say they'll take that shot. Most say they're worried about the safety of the vaccine. Every American should be able to get the vaccine. By April, However, Health and human services official Paul Mango tells Bloomberg News. Ah, vaccine in October is possible, but November and December all more likely. That timetable is more aggressive than those of drug company executives and other U. S. Health officials. The nation's top infectious disease expert, Dr Anthony Fauci, has said Americans shouldn't expect a vaccine to be widely available before mid 2021.
The University of Utah, Jack Daniel's Whiskey, and Carnival Cruise Lines Hit in Ransomware Attacks
"Do the University of UTAH? Jack. Daniels. Whiskey. And Carnival cruise lines all have in common. Well Friday last last Friday. The University of Utah revealed that it had paid a ransomware gang four, hundred and fifty seven dollars. And fifty nine cents. Four, hundred, Fifty, seven, thousand. Yes I got that would have been. Four hundred and fifty, seven, thousand dollars and fifty, nine, hundred, and fifty thousand. Fifty nine dollars. which sort of begs the question or they get that number? Now that I finally got it out correctly, it's probably bitcoin. Nine dollars like half a million bucks. It's like the Bitcoin version thing they probably would. Yes somewhere. BITCOIN that turned out to be that. And what's interesting is that was not to obtain the decryption key for their files. They didn't need it because it turns out that very few of their files were encrypted but rather her and Leo I know this goes to you know the thing that were you just kind of like. Grit your teeth to purchase the promise. From the extortionists. That the student information that had been exfiltrated beforehand while. Yeah that's not be publicly released your Seymour. One this is big. Yeah. Yeah. They're they're they're just they're hoping that the there is honor among thieves and that these guys will keep their word in senators. Word is that if if you want others to pay you yes. That's it. Exactly. If, of course, ransomware gangs or not all the same but and didn't we hear no, it wasn't It was cannon that had some information leaked last week that we reported on and so so Lawrence over at bleeping computer has said that you know they assumed since the jetsons cannon got themselves back up relatively quickly that they had paid the ransom. But now since the extortionists in that instance were leaking the information, maybe cannon had restored from backups and said, Nah, we're not paying your stinking ransom and the bad guy said. Here comes your You know your your private corporate next decade plans for the future. How do you? How do you want that? How how do you feel about that being leaked? Anyway. So the in this case University of Utah explained. That it had dodged a major ransomware incident and that the attackers managed to encrypt only zero point zero, two percent. Of the data stored on their servers. And the university staff was easily able to restore that from backups. However, the ransomware group then threatened to release student related data see they had obtained and exfiltrated. So, the university said after careful consideration, the university decided to work with its cyber insurance provider to pay a fee to the ransomware attacker. This was done as a proactive and preventative steps to ensure information was not released on the Internet and again to the extent that such. Can Be ensured. The Cyber Insurance policy pay part of the ransom, and the university covered the remainder no tuition grant donation state or tax payer funds were used to pay the ransom thought that was an interesting explicit statement that they made. They said, the university disclosed that the attack took place a little over a month ago on July nineteenth twenty twenty and the network belonging to the Collar College of social and behavioral science was the victim. So Apparently A. A you know as a sub set of the. Entire Larger University. was where the break in occurred and there must have been some isolation there. So anyway, that is one of the three and presumably they were able to negotiate a cheaper payment in order to you know because they hit the bad guys hadn't managed to get. The bulk of the of the university stuff. But you know they did pay for they promised to not share student data, and as you said Leo, the reason that would be honored as well as you know, nearly half a million dollars. And they want to do. Yeah exactly. You got to build your credibility. Exactly And two other large and notable recent ransomware victims were Brown forman famous for their distillation of Jack Daniel's Tennessee whiskey. And Carnival cruises. The Jack Daniels folks said are quick actions upon discovering the attack prevented our systems from being encrypted. Unfortunately again, we believe some information including employee data was impacted. We are working closely with law enforcement as well as world class third party data security experts to mitigate and resolve this situation. As soon as possible, there are no active negotiations so. In that. So that says it sorta sounds like. Oh, in fact, a that statement from Brown forman came after Bloomberg News reported that it had received an anonymous tip of the ransomware attack a site on the dark web claiming to be run by members of the reveal strain. A ransomware says that it had obtained a terabyte of data from the Louisville Kentucky based. Brown. Foreman the site said that stolen data included contracts financial. Statements Credit Histories and internal correspondence of employees also included were screen shots of file structures documents purportedly taken during the heist. So does look like the pattern we're seeing now is because you know major companies that have the deep pockets who also have the pocket depth to now proactively backup their servers well. So it's possible for the for if if the only thing done was encryption. A golden opportunity to extract a ransom could be thwarted if the if the good guys have backups at. So now what's being done is That data pre encryption is being exfiltrated and stored somewhere. Then the data is encrypted and so we have you know we're we're we're increasingly seeing this two part attack exfiltration that the company desperately does not want to be made public. In case they have backups in which case, they would not otherwise need to pay the extortion. So you know it's not really ransomware as much as it is. Okay. We got copies of all your stuff. Shall we share it with the world? PLANO blackmail.
Launching the Cyber Intelligence News Site The Record by Recorded Future
"My whole career has been in journalism I started that at her of my college newspaper immediately came to new. York to. Intern I for the Wall Street Journal and then Bloomberg. News. Rating about startups and a little bit of technology and I got completely lucky with those positions and those beats. Him at the time startups where really starting to catch fire facebook lays in the news for. Only it's launched, but it's Very, high profile, public offering. So after covering startups That kind of was able to morph into cyber security. When the Wall Street Journal was launching more cyber coverage, they were hiring three cyber-security reporters dedicated to the beat. And I've been I've been writing about the topic ever since then for the past four years. And most recently had left the Wall Street Journal to join a publication that launch rate before the pandemic started called protocol. which was not the best timing to launch a publication. But. Yeah. No I'm reporting about cybersecurity for this new publication. The record which recorded future is launching by the time. This podcast will hopefully already be launched and I'm very excited about it. Yeah. Well, we're going to dig into some of the details about the record in a little bit but before we get to that and I'm curious we can you can you give us some insights on what it's like being a journalist on the cybersecurity beat what was that like for you shifting to that topic getting up to speed and and covering the folks who are doing their day to day business in that part of the world what was that experience like for you? Yeah. Absolutely. The topic has probably one of the steepest learning curves in. Any journalistic discipline. As I mentioned, my background is not in computer science. I did not know how to Code I didn't really know anything about state-sponsored hackers or TPS or all jargon that. Is Sort of anyone that you talked to in the industry. Uses. Like second nature or a second language for me. It was a very quick learning curve where I had to catch myself and I think maybe six months after I started covering the topic that was when the world was rocked by Vajna cry and then soon after not. Quickly that was that was kind of a trial by fire. So. Like having the resources in the backing of an organization with the the reputation of the Wall Street Journal I, mean that must have been a place to to have surround you. It was. It's it's a pretty. humbling experience when you're just out of college, you call up. You Know A. Like a CEO who's at the top of their game or a cybersecurity analyst that everyone respects and here you know twenty two year old who has no idea about anything in the industry and you and you say like, I'm I'm a reporter from the Wall Street Journal can you help explain this very basic topic for me and there they make themselves available? So. It's it's very. Nice luxury to have. Definitely when you're starting to cover something in the Wall Street Journal, itself is one of the best organizations in terms of the journalistic expertise that they have in house just being able to sit. A couple desks away from Pulitzer Prize winners or heard you know. John. Kerry who is Not. Too Far Away from from where I sat and During my time there, he wrote the book bad blood. I'm was this all over the news so it's it's just a humbling experience to be around literally thousands of journalists to are reporting about the biggest stories of the day. What what's your? What are your thoughts in terms of of the state of things when it comes to journalism covering cybersecurity in general, you know the spectrum of the types of coverage that you've seen. Do you have any thoughts on that? Yeah I. Think we're kind of at a a real inflection point where a lot of not only journalistic organizations but also the audience. Is Waking Up to the fact that we're in a different time when it comes to cybersecurity that this is a topic that affects not just to every organization of every industry, but it affects. Every government agency, it affects individuals even your grandmother who might not have any idea how they used. Basic Internet. Applications noticed that hackers trying to get her data. And so I think that I think it's a time where a lot of there's a need for more cyber security news need for more informed and educated cybersecurity journalists. I think it's really good time to be covering the industry and in terms of just answer your question bit more specifically about. Sort of wound scape. Healthy spot where some publications are focused on. The hackers, they take a look at specific events and get really detailed technical and other publications focusing on breaches news since there's a time of news with this topic I don't think that there are that many publications that sorted filled the gap to. Be Informative. Towards like sort of A. Average cyber security professional or somebody who has an interest in the topic, but isn't an expert in it So I think there's a lot of room there for extra
Hope to Escape to Florida for the Holidays? United Is Betting on It With Nonstop Flights From Several New Cities
"Airlines is betting that northerners will want to escape the cold this winter. Despite the pandemic. It's adding nonstop flights to Florida from seven cities, including Boston, Cleveland, Columbus, Ohio and Indianapolis. From the Bloomberg News Room. I'm Larry Kowski on w T O P
Impact of Biden's Choice of Kamala Harris as Running Mate
"Just dividing Picking California Senator Kamala Harris as his running mate. Let's get the what this might mean for the Democrats as they head into November for the election. Marty Shankar, chief content officer for Bloomberg News, joins US Marty. Thanks so much for joining us here. What's your initial takeaway of Kamala Harris as Joe Biden's running mate? Well, I think you know, and it's been spoken about all morning and yesterday afternoon. It's a historic pick. She is the first Whom the person of color to be on a major ticket advice. Presidential candidate and you know, it solidifies what some Think was a somewhat of a vulnerability for Joe Biden. That's with the with the black voters. And I think that you know it was an excellent choice. Well, Marty, you say that. But will there be any pushback from black voters given her record on criminal justice reform and as a prosecutor Yeah, You know, I think that's been a problem for her. If this came out Bloomberg another George stories about her role in as attorney general in California. Oh, and as a district attorney in San Francisco. She has Been criticized for being Dick really aggressive in her prosecutions and resisting remuneration for those wrongly prosecuted, But that was you know, decades ago. Um, I think that you know, it will be a line that GOP uses against her and they've already started. Um, but I think her attributes will probably be able to overcome those What do you think This means? This ticket here the way this potential campaign may unfold in the next couple of months means for financial markets here. Well, you know, I think the important thing you know no one's really talking about it. But Pamela Harris and Joe Biden. Their policies really are dependent on what happens in the Senate if the Senate remains in Republican hands. They're going to have a really hard time getting any of their policies through so I think the focus really needs to be on those important Senate races, their number of them That were supposedly safe for Republicans who are now in tossup territory. And I think place like main on Arizona. So you I think that that's really going to be a pivotal thing for markets. But I do think that if you didn't see it the other day, Ed in the former editor in chief of Barons wrote a piece in The Wall Street Journal saying that Biden presidency is going to be great for markets. Yeah, absolutely. And I think you know, market participants are already saying that we had marked as Reon yesterday. Who, you know, obviously. Is it a financier, too? The Biden campaign and so he obviously was very pleased with the comma Harris choice to It would have been his choice. Marty, what happens between now and November in the sense that Joe Biden can be a little bit unpredictable? Is there a way that he could throw this? Well, you know, when people asked the what my thoughts are on the election coming up by continually say it's Joe Biden's to lose. And there is and I think the debates coming up the three debates and the debate the vice presidential debate this just one could have A really important role in how this election place out. So yes, Bonnie. It's quite possible that Joe Biden could say something or perform. Poorly and that may have a real impact on the race, which, despite the polls, I believe is pretty close. Marty, How do you think these candidates for the president and Vice President Biden How will they campaign over the next several months is it just could be a serious of television interviews and things like that? Yes, And I think you know, like today they will do a a century a small audience of participants so she'll be distant with I'm sure with mass And that's the way it's going to be until November. I mean, Donald Trump certainly would like to make it a more on the GOP side. Would liketo have his huge rallies, But I don't think that's gonna happen, so it's going to be as usual and unprecedented campaign. Virtual events on on video and that actually made Plato Bidens and ban it because he's much better in Hello. Prompted characters rather than life. Yeah, Marty, what makes you say that? You think it's closer than the polls suggest right now? What votes? Is the pole missing? Well, you know, we did a story about a theory that when potential voters are speaking to Pollsters. They may say that they are voting for the Democrat when in fact they are going to vote for Trump. I think that the There is this phenomenon and people just not willing to tell what they're That they support Donald Trump to pollsters. So I do think that there's that element of undercounting Trump's support. Fascinating. It's going to be just amazing. Several months. It feels like every presidential election in the United States brings up some new constitutional challenges and debates and difficulties, and this one's going to be no different. Marty Shankar's chief content officer here Bloomberg News. And of
"bloomberg news" Discussed on NPR's Business Story of the Day
"Mike Bloomberg's presidential bid led to tough scrutiny particularly about his company's frequent reliance on nondisclosure agreements for employees. One of the people under a nondisclosure agreement is a former employee who years ago worked on an investigative story about Chinese leaders. Bloomberg News killed that story. It also tried to silence his spouse. Npr's David Folkenflik reveals. What happened at debate? Elizabeth Warren Challenge Bloomberg. What about complaints about him Mr Mayor? Are you willing to release all of those women from those nondisclosure agreements? So we can hear their side of the story. Bloomberg tried to move past it. We have a very few nondisclosure agreements. Finish Bloomberg's blase response outrage the writer late. Hong fincher full disclosure award supporter finger points to the widespread use of such as by the company. Bloomberg founded the company uses them to handle complaints of sexual harassment and hostile work environment. According to reports ventures complaint is not that. I don't know exactly what happened to those women but I do know how incredibly terrifying it is to be threatened and bullied into signing a nondisclosure agreement in two thousand thirteen ventures husband. Michael Forsyth was a reporter for Bloomberg News in Beijing Bloomberg had already published his team's investigation into the wealth of the families of Communist Party leaders. The Chinese Ambassador had warned the company against publishing death threats followed venture and forsyth moved to Hong Kong yet. The team kept reporting. He continued to do an investigation and it was that story. This story on longed in China's honest man and his ties to senior Chinese Communist leaders including Jinping Z. Had just become president of China and I saw these emails from the editors praising it meaning the reporting saying that. Yeah it's it's. We're really excited about this. We can't wait to move it forward. Three former Bloomberg journalists verified this account after that however radio silence. The story never ran Serrao Mike. Her husband Mike and some of the other reporters. And Editors who had been working on this story. Just we're asking for answers about why. Why was this story killed the famously intense founding editor in chief of Bloomberg News finally weighed in? That's Matthew Winkler back then. To Editors told me the story needed work. That's not the reason we are cited for killing it. It is for sure going to invite the Communist Party to completely shut us down. Take us out of the country so I just don't see that a story that is just divide. This recording winkler on in October twenty thirteen conference call weekly praised the team but warned about covering the Chinese regime which he called it everywhere and who they are and we should have no illusions that the Chinese authorities had search Bloomberg's bureaus delayed visas for reporters and ordered state owned companies not to sign new leases for Bloomberg terminals the terminals offer subscribers specialized financial data and are the most important source of the company's profits and China was seen as a growing market and a strategic priority again. Matthew Winkler is the information they do have away that enables car to report but not Elsa Prophet Bloomberg News N Winkler. Who's retired as editor in chief declined to comment in two thousand thirteen? Mike Bloomberg was mayor of New York City and denied Bloomberg News Killed The China Story. Two months later back at the company he founded asked about the China controversy again. Mike Bloomberg said it was arrogant to impose American values on others if a country gives you a license to do something off with certain restrictions. You have two choices either. Accept the license and do it that way. Well you don't do business there. Npr also obtained audio of these remarks. Mike Bloomberg to his global newsroom Bloomberg said the newsroom should be proud of its China coverage then said all organizations have bad apples. Some staffers thought that was aimed at the China. Investigative team. Bloomberg News fired Mike Foresight. He was accused of leaking news of the killed project other outlets. He landed at the New York Times and would not comment for the story. He signed a nondisclosure agreement with Bloomberg LP lawyers for Bloomberg's company pressured someone else to sign one foresights wife later Hong fincher. The company's lawyers threatened to force her to pay a six figure sum if she didn't agree to keep silent about her husband's work. Here's venture. There was no reason why I should have to sign a nondisclosure agreement. Because I didn't possess any damaging material about the company venture recalls being summoned to the high rise offices of Bloomberg's Hong Kong lawyers. Her husband was there too. And then this lawyer from New York on that. I mean giant image of his face on the video screens said but what about all the evidence? That's in her head venture says. She walked out of the conference room and left the building. They assumed that because I was the wife of their employees. I was the wife I was just an appendage of their employees I was not a human being ventures former CNBC correspondent who was finishing up PhD. She bristled and hired top-flight lawyers and finally the company let it go now. Mike Bloomberg has returned to his company. Wants more but venture isn't letting her question go. What else in his newsroom she asks is hidden by those nondisclosure agreements. David Folkenflik. Npr News New York..
"bloomberg news" Discussed on The Takeaway
"Fifty. Years years ago this month a group of native American activists launched in nineteen month occupation of Alcatraz island in the San Francisco Bay. They were protesting the government's mistreatment of of indigenous communities including efforts to strip tribes of their land and status sovereign nations and to assimilate the native population into wider American society. The Activists Davis attempted to reclaim Alcatraz island as their own citing in eighteen. Sixty eight treaty that allowed native Americans to take over surplus federal land. The island had been sitting sitting idle since nineteen sixty three when the famed federal prison shuttered. Its doors name of all Indians. Therefore we claim this land for Indian nations for all these reasons reasons. We feel this claim just and proper and that this land should rightfully be grants was for as long as the river show running sunshine sign Indians of all tribes hypes November nineteen sixty nine San Francisco California. That's the late. Richard Oakes one of the leaders of the movement. This island here represents no-man's-land and every man's land it represents to the to the Indians a place a sounding board where they can get the attention. Republicans they give attention of the press. I essentially government officials oaks and his fellow activists transformed Alcatraz Island into a symbol of native resistance. And while they he didn't succeed in reclaiming the island itself they thrust native American Civil Rights into the national spotlight created a wider sense cultural pride and identity among native people. The occupation was also one of the driving forces behind a shift in federal policy toward self determination for native American tribes in the nineteen seventies in many ways the occupation of Alcatraz laid the groundwork for the indigenous activism. We're seeing today with movements like the Dakota access pipeline standing rock protest. For more on this I spoke to Ken. Blanchet and associate associate professor of History and native American studies at the University of Nebraska Omaha and also really embraced noise cat. Journalists and activists who recently led an indigenous canoe journey around Alcatraz. Okay transitioned to commemorate the anniversary of the occupation. And I started by asking can't how the Alcatraz occupation fit into the broader picture of civil rights in the nineteen sixties axes. There was a lot of communication between these movements. There were supporting one another and the recreating a kind of drive to create new kinds of ideas of unity. Unity within this country but also to create a political base that can move things legislatively as well and make positive change. And that's something really critical that I it showcase to my I students when they start to learn this they start to realize you know those students that took over Alcatraz were not too much different than us. Other words students can still make change in this country country and I think there's kind of an uplift to that in a positive direction for all students to be able to kind of learn from Alcatraz Jillian when we think about indigenous indigenous activism and the Red Power Movement after the Alcatraz occupation. Where did it go from there? So after Alcatraz there was a period of about five five years of native activism most notably with the American Indian movement which did not lead the Alcatraz occupation but got involved towards the end and then led things is like the trail of broken treaties across the United States and the occupation of wounded knee in nineteen seventy three and so there was a real flourishing rushing of native activism and a real cultural renaissance that sort of emerged out of this period that began with the Alcatraz occupation. What is the State of native activism and indigenous activism? Today we still struggle with a basic problem of visibility. You know native. The people have been raised in marginalized in American society. Alcatraz was in many ways sort of the Montgomery bus boycott of the native native rights movement in this country and even in places like Oakland and Berkeley you know some of the most progressive liberal places in the country. Kids grow up not knowing that that's is part of their history that when they look out on the ban look at Alcatraz Island. There was this touchstone moment in the history of indigenous peoples and of this entire country. And it happened right here now Julianne. Obviously a lot has changed since nineteen sixty-nine and I'm wondering how Social Media and more broadly the internet or shaping this new era of indigenous activism I think that the the power of media generally and then social media specifically is that it can provide that access that representation and when you have fewer viewer gatekeepers fewer traditional media gatekeepers. I think that the barriers to entry for groups like native people who you know you'd be hard pressed to find a native American in the newsroom of the New York Times The Washington Post or any of the cable networks or in Hollywood But you can find us online very are. He's only a few go to the right corner of the Internet and I think that I see a lot of young people people younger than I am even using platforms to express their are their political views to take their culture into new digital directions. There are now many native folks who are intervening in our cultural landscape and digital media. Social Media has provided them a tool provided us a tool to do that work and can't Just to sort of round this out here. I mean mean we mentioned the Dakota Access pipeline a couple times but here on the takeaway. We've covered many issues that affect the indigenous community here in the United States including the crisis of missing and murdered indigenous women and girls Healthcare disparities and an environmental justice just to name a few. Have those issues been the same same as they were. Fifty years ago are there new issues emerging For this community when it comes to civil rights and social justice that we should be paying attention to or have any of these improved in America. We have a long way to go for equality for indigenous peoples. The issue of oppression has never been abated of the issue of colonization has never never been abated. These are issues that are alive and in strong and well within pockets of America and their issues that we as communities and nations have to the face kind of the reason why when we pull back from this and we look at One of Richard Oakes most famous quotes which was tries is not an island. It's an idea. It becomes a very powerful driven force within the movement of Activism in Indian country as to take direct action. But do that. In a non-violent way think indigenous in those solutions and in the course of that is to create a new wave of of activism that can transform our rights. And you gotTA scratch your your head a bit and like you said wonder why they're such an epidemic with murdered a missing indigenous women. Why do we have Monica in Hawaii? What do we have standing rock? Why are we still going going over these issues where we have to educate greater public about treaty rights and some of that does have to do with our educational system has to do with curriculum but also has to do with larger systems of colonization? And and unless we started attacking this communities together and addressing it we won't see significant change for some time. I think that's the critical issue here. So I mean I think think one more element of this that has certainly changed in the last fifty years. Is that climate. Change has emerged as an issue. That was only really a theory. And in some small scientific circles in nineteen sixty nine and one of the fascinating things I would say about the movement you know for climate justice right now. Is that so often fin indigenous communities Like standing rock are on the front lines of that movement are playing outside his role really in calling attention to new environmental injustice. Julian brave noise cat is a journalist and activist Kent blance. It is an associate professor of history and native American Studies at the university. Eh BRASSICA Omaha. Thanks so much for this conversation. Prince firmness thanks for having us. And that's our show so for today and we'll still be on air tomorrow during the holiday so be sure to tune in. Thanks so much for listening. I'm Tansy to Vega this is the takeaway and have a happy Thanksgiving.
"bloomberg news" Discussed on The Takeaway
"Bloomberg which is his operation you know as an extension of his campaign and in this case yes it is. These people are joining his campaign. They're they're there to promote Bloomberg's candidacy Dan. What are some of the fears of having a candidate running for president like Bloomberg? WHO also owns a multinational media organization initiation to to Paul's point which is not? Just you know a printed magazine. I mean this is all this is television. This is Beyond that so what are some of the concerns here. Well it seems like it's a ratcheting up of what we've seen in recent years to some extent because although candidate trump did not have a his own news organization behind him Nevertheless he was essentially a creation of the media through his participation participation in the His the apprentice all those years and And and this seems to be really the next step now in terms terms of covering national politics of Bloomberg News is really a niche player. And the idea that they could make or break any candidate is is fairly unlikely. But indeed. What happens if we go down the line and Jeff Bezos Paul Paul's ultimate intimate boss decides to run for President as Paul correctly. Points out. Bazo says been Very good about how leading his Leading The Washington Post cover His interests without fear or favor. But you could see that If he ran for president it might be a very different Sort of situation May bazo swift. Give the same edict and say you can cover me any way you want but I don't know whether the public would believe that and Unfortunately they would be able to point to this Bloomberg situation as a precedent. Paul doesn't doesn't Mike Bloomberg really ultimately I mean he owns the company. It's his it's his brainchild doesn't have the right to say. Look you know. These are my rules. My company my organization Tation You know to play by the rules or or you can walk short. He certainly does. Every owner does and every owner imposes some rules on its newsroom mm-hmm but in this case it it creates perception and his readers. His viewers his listeners of Bloomberg News are going to be asking the question. Am I getting the straight goods from them. Can I trust them as a news organization and I I WANNA take exception to something that Dan just said they. They are niche player. They are strong in financial news. They terminals go into every stock trading and financial firm in America and around world But what we don't know in this case is what won't be reported because of these policies that they've imposed we don't know what stories stories of Bloomberg reporter might uncover and not report because they now have a practice of Stopping themselves from reporting certain things about the candidates. So Niche player. Not You don't WanNa take reporters off the field and not report. Paul far is a staff writer and reporter for the Washington Post and Dan. Kennedy is an associate professor of journalism at Northeastern University and media critic contributor at W. H. in Boston thanks to you both thank you thank you.
"bloomberg news" Discussed on The Takeaway
"Michael Bloomberg is running for president putting his media organization in a bind. Bloomberg news is a very good news organization at this just handcuffs them from Doing what reporters have to do to cover a national political campaign. I'm Tansy Nevada and today on the takeaway for November twenty seventh a look at the ethical questions Sion's raised by Bloomberg's entrance into the race also on the podcast. Native chefs are reshaping Thanksgiving by spotlighting indigenous. Food I've heard people on my podcast. Describe grab it as like an act of resistance act of spirituality and really taking part in your culture and your religion plus fifty years ago. Native native American activists occupied Alcatraz Island will explore the legacy of that act of resistance. Alcatraz was in many ways sort of the Montgomery bus boycott of the native rights movement in in this country. But we start with Michael Bloomberg's presidential conundrum. Let's get going on Sunday. Seventy seven year old former New York mayor and billionaire Michael Bloomberg announced that he he was running for president. If president trump wins another term in office we may never recover from the damage that he can do. The stakes could not the higher. We must win this election and we must begin rebuilding America by investing here at home and restoring our nation's nations credibility and moral leadership abroad Bloomberg is already showing what a candidate with an estimated fifty four billion dollar net worth can do in this week alone Bloomberg will spend thirty one million dollars on television ads. White Bloom down for president. Jobs Creator leader problem-solver MM solver but what since Bloomberg's campaign apart from those run by fellow billionaires Tom Steyer and Donald trump is that he also happens to be the owner of Bloomberg News which is one of the largest news organizations in the country. The outlet is home to a network of twenty seven hundred journalists analyst within the Bloomberg News Network. The former mayor's year's presidential run has inspired a great deal of tension in a memo sent to staffers earlier this week. Bloomberg's editor in chief. John Michael thwaite wrote the company will quote continue our the tradition of not investigating Mike and his family and foundation and we will extend the same policy to his rivals in the Democratic primaries. Here's Bloomberg in two thousand eighteen eighteen speaking with Radio Iowa about how Bloomberg News might cover his campaign. We've always had a policy of we. Don't cover ourselves. I happen to believe in my heart-to-heart WTA hearts you know you can't be independent and nobody's going to believe that you're independent and quite honestly. I don't want what the report is. I'm paying too bad story about. They don't want him to be independent. So you have to going to have to do something. But Independence is at the core of journalism and whether Bloomberg's editorial staff is making the right call in its twenty twenty coverage is where we begin today here discuss what Mike Bloomberg's run means for his media company. Bloomberg News Are Paul Farhi staff writer and reporter for The Washington Post. I and Dan Kennedy Associate Professor of journalism at Northeastern University and a media critic contributor at W. G. B. H. in Boston Paul Dan Welcome to the show. Hi tenzin thank Hugh Paul Bloomberg Editor in Chief John. Michael Thwaite made a decision not to continue to not to investigate Michael Bloomberg which is a continuation of past policy? will this hurt the company's ability to effectively and thoroughly covered the presidential race because they're only covering president trump. I think it's hard to make the the argument that this is the full and complete coverage of the campaign A Bloomberg News is a very good news organization at this just handcuffs offs them from doing what reporters have to do to cover a national political campaign it. It has perplexed to to use a nice nice word the journalists over at Bloomberg They don't know exactly where this leaves them. And I'd have to say that any news organization facing this would would. The journalists would have a big problem with it Dan Nichols Wade said that Bloomberg becomes the nominee. The Bloomberg News outlet would have to reassess now quoting here here how to cover him. What do you think that reassessment could look like? And why not reassess right. Now when he's a candidate well reassessing right now would be a very good move. ooh What I hope and I have no evidence for this but I think it would be a fairly? Decent outcome is that a Bloomberg himself is kind of dipping his toe in the water of a presidential campaign. At this point. It's very much a long shot But if he really starts to gain traction and Seems to be on his way to Being a serious contender for the nomination. my hope hope is that he would reassess and perhaps put Bloomberg News in a blind trust or maybe even sell it as quickly as he can In order to end this really Difficult conflict of interest. The Union at Bloomberg News released a statement on twitter on Monday. They say that they were quote. Extremely alarmed by management decision might management's decision to what they're calling silence journalists Paul you work for The Washington Post host which is owned by Jeff bezos and who owns Amazon and in the Washington Post continues to report on Amazon I've worked for the New York Times that had to report on itself and everything from earnings reports to deeper issues. Here I mean is this really a silencing of journalists I mean are there are other organizations. That are doing that. Have this sort of line in the sand will let me tell you about how the Washington Post covers. Jeff Bezos and the answer is aggressively with really no holds barred. We are not ordered not to write certain things about him. We can write pretty much what we want. And when we have any discussion of Amazon Zahn we disclosed that in Bloomberg case They have always had this weird policy of not Reporting on their owners wellesz else his personality his personal life is family stories. And they're continuing that more importantly there Extending as they as Nichols wait. Wait said in his memo. They're extending that to other Democratic candidates. So what you have now is. We're not going to cover those aspects of Bloomberg. Were not gonNA cover those those aspects of his rivals for the Democratic nomination at the same time they are going to continue investigating those aspects of president then trump. So you have this very unlevel playing field now. No Democrats. No No Enterprise stories about Democrats including Bloomberg but will continue to look into the president. It just looks on fair and it's Bloomberg and and Donald Trump Bloomberg has clearly Gun for Donald Trump in in his Statements he this is why he's running It just presents a political reporters. Dan and I'm curious your thoughts here. What what position this puts the political reporters in To Paul's point who won't be able to report on any of these Democratic candidates. And what what do you end up doing with those folks I I think that You try to keep them from Resigning and taking jobs at the New York Times and the Washington Post It's an incredibly difficult difficult situation. It's completely untenable And what happens. If Bloomberg does somehow managed to win the nomination At that point does a Bloomberg News. Say Oh and by the way we're not GONNA do any investigative pieces about President trump. Either because since. We're not GONNA do that about help. Bloomberg we don't WanNa do it about his rival This is one of the Weirder and more disturbing things. I've heard a about a news organization sation doing in quite some time. Paul we've also learned that several members of Bloomberg's editorial staff are temporarily leaving their positions to work on Bloomberg's campaign. Is this within the regular scope of an editorial staff members job and just to be clear. These are not news reporters who are out working beats but these are the folks who work On opinion and an editorial content but even with that I mean. has there ever been a precedent for this ball. No there's no precedent for this. The closest I could think of was Steve Forbes who was the editor in basically the owner of Forbes magazine back in nineteen eighteen ninety six when he ran for president for Republican nomination at least and but Bloomberg News is not Forbes Magazine McCain Forbes magazine is came out every two weeks it was a magazine Bloomberg has TV. As radioed has non-life presents a huge news organization. Shen and many many readers. The editorial side thing is really weird You know it's one thing to close down any kind of editorials feels about the campaign. Any unsigned editorials. They are stopping that completely. But now you have seven members of the editorial board including the the top two editors joining his campaign that presents. Its own kind of suspicious. Cloud of you know journalistic malpractice L. Practice or at least suspicion Around.
"bloomberg news" Discussed on Newsradio 970 WFLA
"Everywhere want the American dream, so should gaining American citizenship be simple or hard. Rush limbaugh. Nails the answer in his latest bonus report, why becoming an American citizen should not be easy. Get it free with a new subscription to the Limbaugh letter at Rush Limbaugh dot com. You're listening to the. AM Tampa Bay. WFL dot com. From Bloomberg news, the World, Gold Council reports central banks bought more gold last year than any time in the past fifty years, six hundred fifty one tonnes and they're still buying. And then another report, Chris cat capital? A top performing hedge fund. Call today's buy gold, sell stocks that trade of the century. What do they see coming a bursting stock bubble a debt bomb about to explode? How about a return to the gold standard find out now, call Lear capital at one eight hundred two six four fifty seven hundred for the Bloomberg and Kress cat capital reports. See why insiders are preparing for another epic rise in the gold price. Don't wait. Get your free reports and gold investors guide today. There's no obligation. So call one eight hundred two six four fifty seven hundred then also ask how you can get up to two thousand dollars in free gold or silver. When you roll over a qualifying them out into a precious metals IRA, call one eight hundred two six four fifty seven hundred that's eight. Eight hundred two six four fifty seven hundred us radio radio LA.
"bloomberg news" Discussed on Bloomberg Radio New York
"Is a Bloomberg news technology reporter, he's in our Bloomberg ninety nine one studios in Washington DC for more on this story now and Ben looks like Facebook in particular is playing a lot of defense. Yeah. I think that's basically, right. You know, we've talked about how they have these extensive lobbying operations all the technology companies here in DC, but kind of looking at that recent announcement from Facebook that they're going to combine Instagram and what's app, you could look at it through the Washington lens as a defense against these calls to break it up because if you're putting all the data and all the streams together. Well, it's going to be that much harder to pull them apart. Let's talk a little bit about its plant integrate those messaging products, how do they feel like that's going to? I mean, it seems like it would give them more impetus to be broken up. It sounds more. Like they've cornered the market on that. If they do blend them all it seems like keeping them separate would actually help their case. Right. So this cuts a little bit both ways. What's what's sort of interesting? Here is that you have a lot of critics of these mergers of the privacy position of these companies saying, well, this is what we were screaming about the whole time that they said that they were going to combine these data. But I think in practical terms, if you're going to negotiate a breaking up a company, you have to say where those cracks in the company are going to be in who's going to go into which spun off company, and it just makes it that much harder. Now, it's not clear that this is kind of a high wire act. I think it's not clear that the defense will work. But it does seem as if that's something that they are looking into even as they also walk this line on well, they say it's more privacy protective. But really combines the data streams and tells them more about their individual users. So that they can advertise to them. Okay. So we know about the break-up ideas that are being posed by Elizabeth Warren and others, but what are the other regulatory and legislative threats to Facebook and the other social media companies. Oh, they just run the gamut. And I think what's really important to note about this moment is that it's not just on the left. It's not just Elizabeth Warren saying breaking them up. It's on the right to everybody is just fed up. That's the headline of our story. And that's something. Thing that I hear over and over and over and one of the big things that conservatives talk about is anti conservative bias, we've talked about how sort of saying that these companies have to have a particular political point of view, you get into some some first amendment issues. And so it's not clear that they can do anything. But there is that that liability protection that the that the companies house because their platforms because they're not the one actually writing the content, and so they could go after that. Antitrust you've privacy of the FTC, you have state attorneys general it just goes on and on and on right? Because the when Senator Warren actually tweeted about breaking up Facebook. She got re tweeted by Ted Cruz, and I don't know what universe that would ever happen on any other subject nineteen. Well, but where did they go wrong? The big tech companies. Didn't they used to be the darlings? They were absolutely the darling. You're an American success story. They brought innovation. They brought the world together. They were American companies. They were social democratic Raquel democratic campaign contributions. Absolutely democratic campaign contributions everybody everybody loved them. And I think what increasingly we're seeing is the downside in our everyday lives. Just to take something from last week that horrific massacre in New Zealand livestream across Facebook. They couldn't take it down fast enough. And in some ways, that's just the nature of the platform. It's just a little bit too big. And you can say that they don't want to take it down because it's it's profitable. But I think it's hard you. I think it's hard to argue that a terrorist videos. I is profitable. I just I just kind of bad business model. It's a bad. It's a bad business model. But when you're seeing at this scale that level of downsides. It's hard for voters. Not to be upset and it's hard for politicians. Not to see it as an issue. They can win on. So we're going to see a calls to take action against social media's just get louder as we head into twenty twenty. I think that's exactly what we're going to see. I mean, I think it doesn't crack those top three on the politics of sort of, you know, those those kitchen table issues, you know, how how far does my money go. Do I have a good job? And do I have healthcare those kinds of things I think they're still going to really determine the elections. But it does seem like this is kind of a combination political policy cultural issue that is really gaining relevance. And the companies just cannot stop making it more relevant stepping in it in ways that voters just throw up their hands and go what are we gonna do about these guys in the if you consider that the Republican congressman from California, Devin Nunes suit, Twitter, he can't be the only one who's ever come up with that idea, nor will he be the last you see a wave of lawsuits, I had is this a situation where the technology has outpaced. What is in law? I don't think. So I think there are a lot of problems with that lawsuit. Some of that platform, immunity stuff is also first amendment stuff. He's sort of alleging a conspiracy. But he saying well you have to let this lawsuit go forward. So I can prove this conspiracy. It's very weird venue. I'm not sure what he's doing in Virginia. So there's a lot of I think issues with that suit. And if it gets tossed out, I'm not sure other people are going to are going to go down there. When things like libel law, these things exist, and I think I think they can apply on the internet. But when you talk about that platform, immunity, I think a lot of people are discussing it. And if you look at something like, maybe a drug ads online, a lot of talk around Washington that this is a big vulnerability in coming months. It could be a place where they as you say, we're lawmakers say the policy just just just didn't keep Ben, thanks. That's Bloomberg news technology reporter, Ben Brody. You're listening to Bloomberg politics policy and power on Bloomberg radio. I'm Peter Barnes with Amy Morris. Amy, you might think that the more transparency there isn't campaign finance disclosures. The better now earlier this month, the house passed HR one which reforms the campaign finance system among other things. House speaker Nancy Pelosi, it ends the dominance a big dark special interest money in politics, and it empowers small donors and the. Grassroots. Now. Senate majority leader Mitch McConnell has already said that Bill is not getting any floor time. And the Senate says too much campaign. Finance disclosure would risk retribution against conservative donors. Bloomberg government senior editor for money and politics, Ken Doyle has been following this. He joins us now in our Bloomberg ninety nine one studios here in Washington DC, one of the things he said Ken was that it would risk retribution against conservative donors damp and public discussion and be too expensive. Can you bring us up to speed on? Why McConnell is arguing against that level of transparency? Yeah. I mean, he's he doesn't he doesn't want transparency for at least some of these groups that are known by their critics start money groups, which have been very influential in elections and have helped McConnell and a number of other. Candidates win election. The there is he talks about retribution which sounds like something is something physical is going to happen to these people. I think that the more. What's closer to the truth? Is that a lot of these people don't wouldn't like negative publicity? We're talking about companies that are widely known wealthy individuals that are widely known and some of them would prefer to just remain anonymous just because you know, they don't want the attention, especially corporate America, doesn't like to get involved in controversial political topics. And so what would happen is if there was more transparency some of the money, maybe a lot of the money wouldn't be there. They just you know, they would be much harder for to raise money. And so I think that that's more. What what the issue is about the juxtaposition here. The comparison for me is what's going on with this legislation which is has passed the house, but it's going to be held up in the Senate, according to McConnell, and so we're not going to see a legislative change. But we have a number of court cases that have been making their way through the system, including one that is now gotten to the court. Of appeals here in Washington and McConnell filed a friend of the court brief in this case, which showed show that this is potentially a very significant case, and we could have a court ruling that could have a much larger impact sooner than any of the legislation. That's getting more attention. And that's why he's focusing on that that making this argument about retribution. Well, the McConnell have maybe a point here. I am thinking of the controversy of few years back about the IRS auditing, right? Certain conservative groups remember that. Yeah. And there there is a legitimate. I mean, the supreme court actually recognized in the Buckley case, which is his back to the seventies was the big the big supreme court case on campaign, finance the supreme court said that it is possible that you could have people that would be physically threatened. If it became known who, you know, who they were supporting politically and the the case. The example that the supreme court pointed to and and that was followed up on later was the Socialist Workers Party a party that supported, you know, very radical ideas and didn't want their supporters. No because they said they would lose their jobs. They could be physically threaten. There are other cases that go back to the sixties with the NWEA CPI where the courts have said, the, you know, there are some groups that would their supporters will be so threatened. That we really ought to protect you know, who they are. The question is whether billionaires and big companies supporting politicians today are really in the same position as those supporters of the N double ACP in the desegregation struggles of the sixties. And I think you'd have a lot of people that would say some of these wealthy people that are putting up money to influence our politics. They really ought to be known and the consequences to them are not as great as they as they would make them out to be like going on their Bloomberg government senior editor for money and politics, Ken, Doyle, always thanks so much. Well, that wraps up this week show for more government of national affairs. News from Bloomberg visit of.
"bloomberg news" Discussed on Bloomberg Radio New York
"Vince, Bloomberg news global, macro strategist little funky town. I think we might have a little bit of a funky town here today. You know, you mentioned Charlie Pellett probably an apology because there are many times that I shout. His name in vain is I'm going to the subway and I hear Mina closed doors, Charlie doors. Well, we got lots going on US China trade we do expect to hear from the president. And of course, our big stock and corporate business story Kraft Heinz shares plummeting the most on record big big right down. So we'll kick things off with that just a moment. But let's get to the voice of funky town. Charlie Pellett, right stand. Clear the running bowl, please. We've got the Dow the s&p NASDAQ stocks surging on this Friday on track for another winning week four in a row right now, we've got stocks rising along with treasuries as investors await results from top level trade talks between the US and China the dollar falling but the s&p up fourteen now of five tenths percent. The Dow off the highs of the day off one fifty five up six tenths NASDAQ up fifty five that's a gain of eight tenths of one percent. Tenure of twelve thirty seconds yield two point six four percent. We've got gold up five tenths now thirteen thirty sand. West Texas intermediate crude oil up five tenths of one percent Fifty-seven twenty-six a barrel. I'm Charlie pelletan. That is a Bloomberg business flash. Yes. Indeed. Charlie pellett. Thank you so much. I'm Carol Massar offense. Cigna rela in for Jason Kelly. On this Friday, as I just said, I forgot my password. So I'm having trouble. This is what happens when you change it, and I make it complicated. Vincent Morello, though. We did hear Charlie talking about rally underway next rally, and one of the things that striking today is that we're seeing a rally in treasuries and stocks at the same time and just makes me feel one's going to happen. Is going the wrong way. And I'm going to let Gina Martin Adams tell me which way is going because she's much better equities than I am going to say, we we usually talk about the show of it. But let's get right to the markets because we do have gene in the house with us a Gina Martin Adams is here along with our Dave Wilson. Of course, Gina is our Bloomberg intelligence chief equity strategist, and we've got our Bloomberg stocks editor Dave Wilson as Gina. What's going on here? I've been reading your research because you've been talking about earnings kind of here to hitting a trough. Yeah. That may be a good sign. Well, I think that that's a lot of the reason the explanation for why stocks have rally this year and nobody's talking about it typically years in which earnings trough are great years for stocks because stocks are forward looking right. Peak as we learned again last year years in which earnings peak are not such good years for socks. So I do think that as we've gone through earning season analysts have just pummeled expectations for next quarter earnings growth, that's creating a natural trough. We probably need to see some confidence develop that that is indeed the trough it's not gonna persist throughout the year before we get a lot of optimism evident in the equity market. But I do think that just finding a trough can be an under appreciated aspect of what's driving prices. Where does that optimism come from? Is it come from trade to we see it from president Xi? President Trump supposedly meeting now potentially in mar-a-lago in in March. It seems to me it has to come from external sources right trade is part of that story because the weakest part of the earning stream by far the multinational companies those with dollar exposure, those that have exposure to China those that have exposure to Europe are under performing the rest they've been responsible for the the bulk of the dragged down in revenue expectations. So that would imply that in order to get confident about the outlook. We probably need to see a little bit of confidence in the non domestic outlook form, and that comes from anything from trade to just getting past Brexit to possibly an ECB ease or something to stimulate better growth. And in Europe. I think it's got to come non-domestic speaking about external growth, you mentioned this like I believe last week that the stocks in Europe. Relative value. I believe to the are overvalued versus stocks in order to stop stocks that have a relationship with China are undervalued hasn't. That's still the case. And that's the way the money's to be made. Maybe yes, it's still an incredible discount relative to their ten year averages. Anyway, for the stocks with the most exposure to China. Less of a discount or less of a premium now for stocks with exposure to Europe, but still somewhat a premium. So that's I would say that that is. And unique divergence has gone on. The earning stream is investors are still bidding up the value of companies that do have a bit of exposure to Europe. They have completely given up on the China story. It may be wide trade seems to be such a sensitive issue. It seems to be that the companies that are most exposed to trade or starting to perform quite a bit better. And they are also incredibly discounted. And I have to say I'm blown away by how the sentiment goes from kind of positive too as we saw in December everything falling off a cliff, and I feel like everybody starting to talk recession and earnings coming down. And then we're kind of making our way back, right? And it happens very much in extreme ways. Right now, it does which if you look historically. It when you have corrections like that, the the bounceback is always extreme. I looked back at the twenty eleven correction of twenty percent and the twenty fifteen twenty sixteen correction of more than fifteen percent in the S and P five hundred and in both of those instances, you went over just a period of weeks from less than two percent of names on the s&p five hundred trading above their fifty day moving average to ninety five which is and that's the scenario that we're in right now, we're getting really close to that ninety five number which makes me think the market probably gets a little exhausted in the near term. Maybe we see a little bit of sideways consolidation for the recent games. But it's quite normal. Charter today's talk about the ninety percent figure that it was getting people's attention. But let's talk about what's ahead for earnings because the idea of the trough is there if you look at the numbers first quarter looking like the worst based on what analysts are predicting for companies and the S and P five hundred and you do see things go up as the year goes on with the fourth quarter being real resumption of growth. But there are two things that you can also say the kind of run counter one is that the estimates are still coming down for this year. First quarter, you now looking at close to a three percent drop in s and p five hundred earnings, and the second thing is if you work at least in my experience, there's a horrible optimism that gets baked in the fourth quarter figures, and they don't always pan out the way the analysts are in -ticipant eating. So how much of a truck there might be this year is still up in the air. Air. I can't also I have a feeling that like CEO's right now are taking advantage of the opportunity to save. If they're worried about things, let's just throw it out there right now. Right. And let's over performer outperform later on. But I do feel like people are kind of piling it on the old kitchen sink approach when it comes to their results may very well be the case. Yeah. Why not take advantage, right? The sentiment is things are terrible cell. Okay. Yeah. Things really are terrible. That way we lowered expectations lower the bar. Give ourselves a little wiggle room. Gino, you said you looked at cycles, and I do feel like and we had a question come up. I did something for business. We kind of a a webcast, and we were talking about the housing market specifically, but they did talk about maybe our cycles have changed since the financial crisis for different reasons. I don't know whether there's more transparency in the markets, but our cycles have they changed. So I take issue with the word cycle. Okay, instances, right. Which is why we get earning cycles. All we're looking at her peak to trough earnings changes and trough Topeka earnings changes. And that defines the cycle for us. Right. An economic cycle is very different than a market cycle market cycles are tend to be many market cycles within one big economic cycle. So I think we have to define what is a cycle. If we're talking about the economic cycle because we're talking about the housing market. You know, I think what makes an economic bust which everyone's been looking for is usually an economic boom in that instance, we have had no boom. So therefore when is the bus going to occur is a big question Mark, and that is the characteristic that defines this cycle differently than other cycles. You always have an excess Bill at the end of a cycle that you need to correct from. And that's what a recession is. Right. So we're all on guard for whereas the excess developing many people have pointed to the financial markets as the area of excess yet would the economy seems to be remarkably stable, so that I think proves the case that the financial markets in the economy are not the same thing. Right. They run on different cycles, they run on different time periods, and they may coincide occasionally, but not all the time. We gotta run love talking with you Gina Martin Adams chief equity strategist at Bloomberg intelligence and love talking with Dave as well. He'll be back a little bit later on. He's our stocks. Editor at Bloomberg news. Let's.
"bloomberg news" Discussed on MSNBC Rachel Maddow (audio)
"My father is a private citizen no point in further discussion i'm not interested in this end of story end of meeting or not today in an interview with bloomberg news in moscow the kremlin linked lawyer from that trump tower meeting says that's not how it happened at all the lawyer the tally of this on this guy out she tells bloomberg news today that what donald jr told her at the meeting was quote looking ahead if we come to power we can return to this issue and think what to do about it in other words hey you give us whatever dirt you've got an hillary clinton now that we can use in the election and then if we come to power we can return to the sanctions issue for you the lawyer for don jr today said have no comment about this new interview with bloomberg news missile on made this claim today in an interview with two bloomberg reporters she said she would also tell the same story under oath to the senate judiciary committee said she's is also ready if asked to tell the same story to robert muller joining us now is henri meyer he said senior government reporter for bloomberg news based in moscow he joins us from paris this evening mr meier i know that you've stayed up to the dead of night to be with us tonight thank you so much for joining us you're welcome rachel i don't know whether or not to believe ms visits in her accounts about what happened at this meeting i feel like she's told a lot of different stories about her interest in taking the meeting her affiliations with the russian government how credible do you find this claim about the president's son.
"bloomberg news" Discussed on KBNP AM 1410
"That we're always happy to see jail nice act when he comes in on at friday's joe miossec is editor of the bloomberg brief that's focused on the municipal bond market for us here at bloomberg news and joe you know we need to start with puerto rico as we see them struggle to get the lights on and fix their infrastructure we just watched the bond prices plunged currently the general obligation bonds maturing in 2035 down thirty five cents on the dollar from a recent sixty cents and the dollar batons ally you know you originally thought that this could actually benefit puerto rico in the long run but the drop in price snow the the the hurricane because it would aid right she's still think so absolutely oh yes there you know the money is being spent their you do have professionals on on the ground and despite the president's odds combats the other day about not staying forever or the professionals involved at all seem to be committed to repairing and repair and reconstruction of the island so it in the near term that's very good and it's also got no longterm joe i gotta ask savimbi just to step back for second okay these are all mites right these are all it might happen this is gonna happen this now this every it is just sixteen percent of puerto rico has power only sixteen percent what makes youth i mean come on you can't run an entire economy of so's 3point whatever it is million people on dieselpowered generators all the time kenya no no of course not but this is going to be remedy this will be fixed killed this is relatively short term blemish would you when you look back for example two hurricane katrina and louisiana and wallin's but they had representatives in congress they had people fighting for them in order.
"bloomberg news" Discussed on Bloomberg Radio New York
"On outside the weather business now and and that bloomberg sunday get off is an autopsy nineteen earned his it's still spilling days until lead us presidential elections in hillary clinton leads much in andy in the polls him bag spend brady has the latest hillary clinton until holds a slim lead in the near with big national polls helping her is the fact that her lead with college educated white's has actually continue to expand in recent days the group has so is favored republican but seems to object to donald trump the trump campaign meanwhile has said it's getting closer to winning swing states including arizona nevada and north carolina for bloomberg news in washington i'm denver at it south korea's president punt has apologize again for the recent scandal but fastball show have approval of a team falling her approval racing affording to five percent and there was seven for korean president has been banks piece how so the president how to address said and i think that's to a reason why she apologized kind of made an extraordinary statement about how she will cooperate fluid investigators an even when so far as to do not a speculate and that's going floating around out she is being influenced by a really just sacked for the first time manager slot under the medical when nelson tend to allies see su conti conference this weekend being banks on the dallas has more his to lead of course they of knock of former political who has become the loudest critical for refugee politics refused to invite mack of marking another no point in the conflict between the two conservative leaders this will fuel new speculations whether america will run again it's chancellor and two thousand seventeen are nadal's groomed update break but it and in spain prime minister murray on a row cooley has percentages new cabinet to be makes maria today and reports here is began dez hair.