17 Burst results for "Brett Taylor"

"brett taylor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:21 min | Last week

"brett taylor" Discussed on Bloomberg Radio New York

"A cup they've extended that to the end of this year what are they going to have to do it's called a lollipop by the way Prince Abdullah there's been some man pulled out his lollipop in the summertime and said I'm on the hook I'm going to do a million barrels a day of a cut that's Bloomberg's Manish cranny crude is down about eighteen percent from its September peak defying expectations the production cuts would cause a rapid tightening in markets in west Texas right now 76 you want a barrel well after intense pressure from investors Sam Altman is returning as CEO of open AI and the company's board will go through a serious overhaul the initial board will be led by Brett Taylor a former co -ceo of Salesforce the other directors are the existing member and co -founder Adam D 'Angelo the CEO of Quora and former Treasury Secretary Larry Summers back in February Summers talked about AI's potential with Bloomberg my guess is within 10 years all of us are going to be relying some important way on some descendant of GPT that's Larry Summers and of course open AI is the parent of chat GPT Microsoft whose AI strategy hinges on open AI's technology will likely have on representation the new board as well thanks week thanksgiving weekend is upon or us upon you if you're in North America doesn't affect us here in Australia or in Asia though it does typically mark however the unofficial start of the holiday shopping season in the US the National Retail Federation expects specs holiday spending in November and December to grow three to four percent compared to the same time last year JC Penney CEO Mark Rosen says consumers are spending more but the doing so wisely what we're seeing is half of consumers are actually saying they are going to spend more this year I think what you are going to see is that consumers are much more focused on value than they've ever been before and we're seeing that in shopping behavior this year that's JC Penney CEO Mark Rosen the National Retail Federation estimates a record in 82 million people plan to shop in store and online from Thanksgiving Day through to Cyber Monday 31 minutes past the hour it's time for global news Tensions are easing a bit surrounding the car explosion at the US -Canada border. Ed Baxter has the news from the 960 newsroom in San Francisco. Ed? Yeah, thank you Brian. Sarah McGregor went through it very well with us just moments with ago no information so just recapping here the explosion on the one of four bridges in the area this one the Rainbow Bridge two people were killed authorities are saying now they have no indications of terrorism Bloomberg Ottawa bureau chief Laura Dillon -Cain says they're still being very careful officially at the high up level it has not been confirmed to be an act of terrorism we don't know the motive just yet but it is being treated as though it was intentional and less proven otherwise so everybody is in a state of high alert and the Prime Minister you know has described it as a very serious incident one that he is coordinating closely with American authorities on and Dominic LeBlanc Canadian Public Safety Minister says security has been tightened through the country and will remain so

"brett taylor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:30 min | Last week

"brett taylor" Discussed on Bloomberg Radio New York

"Is likely to have representation on that new board. Now, speaking of that board, the interim board, it's going to be led by former Salesforce co CEO Brett Taylor, Larry Summers, the Treasury Secretary. Now, Harvard professor and paid Bloomberg contributor is getting a seat as well. And the Federal Trade Commission has launched an antitrust investigation into row our capitals $9 .6 billion acquisition of subway restaurants. Now, sources tell the New York Post that the agency is looking into whether the firm's ownership of rival sandwich shops presents competition concerns. And a Florida judge has ruled that Tesla driver's can family seek punitive damages over a 2019 fatal crash blamed on autopilot. And that judge cited evidence that show CEO Elon Musk knew that that think the new that the assistance was defective. I'm Lisa. Mr. Favorite Bloomberg Radio Show, Bloomberg Business Week, Masters in Business, Bloomberg Intelligence and more are also available as podcasts. Listen today on Apple, Spotify and anywhere else you get podcasts at peep at private. Take your research to the next level with brokers Fundamentals Explorer Fundamentals Explorer provides comprehensive worldwide fundamentals data to all IBKR clients at no cost. Dive deep into hundreds of data points covering historical trends, industry comparisons, key ratios, forecasts, ratings, ownership and more so you can see the whole picture. Find data faster, add depth to your trading analysis and compare beyond plane

"brett taylor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:09 min | 2 weeks ago

"brett taylor" Discussed on Bloomberg Radio New York

"And also that investors are hoping for the replacement of the current board potentially and brett taylor the former co -ceo at salesforce apparently shortlist for a newborn you might not want your kids using it to write term papers but more and more wall street bosses are turning to artificial intelligence for their own writing we get more not from the bricks nathan haker a couple months back h r software provider workday rolled out a slate of products that use a high to write job descriptions or with help annual performance reviews now workday co -ceo correlation box tells bloomberg banks are showing an and putting those products to work he says workday software cuts the hours it takes to write one job description down to two minutes multiply that by hundreds of employees and he says you do the math on the productivity gain nathan hager bloomberg radio and speaking of the banking industry tough weekend for some of those working in finance sources say citigroup will start a round of job cuts as soon as tomorrow that's part of its sweeping station fresh headlines emerging on the middle east and investors are watching as we've been reporting washington post says israel the u .s. and hamas have agreed to a tentative deal that would free dozens of women and children held hostage in azza that would be in exchange for a five -day pause in fighting but a u .s. official tells us there's no deal yet investors this week also looking ahead to reports on the housing market durable goods and consumer sentiment the federal communications commission is implementing new rules banning internet providers from discrimination blimberg's amy morris is tracking those developments the so -called digital discrimination refers to how internet providers offer service to communities based on income level race and other protected classes this is the first major use of anti -discrimination in the digital era the move has disgruntled many in the telecommunications industry who believe the FCC is overstepped while civil rights groups are calling on the administration to do more to expand access in washington amy morris blimberg radio and in the uk the fight over possible overseas ownership of the telegraph is intensifying well on more that coming up for you here on blimberg radio global news 24 hours a day and whenever you want with blimberg news now i'm denise pellegrini and this is blimberg breaking news first or in the middle east the israeli military says says it has taken control of gaza's harbor israel's prime minister ben mennath in yahoo defended the raid on the al -shifa a hospital in the middle eastern countries including jordan and turkey have condemned the raid countries like saudi arabia uae and is others actively calling for a ceasefire whether this spills over that's also something that's very closely watched by everybody right now for the the latest headlines on the israel -hamas war stay with bloomberg radio everything this is bloomberg daybreak weekend our global look at the top stories in the coming week from our daybreak anchors all around the world straight ahead on the program the world's most valuable chip maker reports earnings this week i'm tom busby in new york we'll tell you what to expect from nvidia i'm caroline hetka in london where we're looking ahead to the uk government's autumn statement amidst a gloomy economic backdrop i'm brian curtis in hong kong we look at the u .s china agreement on fentanyl what needs to happen to disrupt the supply i'm lines kaylie in washington where congress has averted the government shutdown for now

"brett taylor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:04 min | 1 year ago

"brett taylor" Discussed on Bloomberg Radio New York

"Inflation rose in October, but maybe by less than expected equity futures point to a higher open this morning after yesterday's strong move in the afternoon, the Vic 6 is just above 20 yields come in slightly with a ten year treasury yielding about 3.58%. They come out of these front WTI crude oil. It's higher just to over $82 a barrel, gold, it's also higher. It's called $1800 an ounce in Bitcoin is steady at just over $17,000 per token. Lots of movement out there, lots of talk out there from the Federal Reserve from yesterday afternoon, but let's get some more color on the pre market equity trading with Bloomberg markets correspondent pretty good. What are you looking at? Well, the theme that we're starting to see over the past couple of days from cloud spending from cybersecurity companies, this idea of less tech spending is starting to show up in the likes of Salesforce, for example, which is our first move. I'm going to look at today CRM as your ticker down by 7.7% in the pre market. And like I said, this does follow this broader theme of the macroeconomic slowdown really kind of spooking a lot of corporate America to not spend big on some of these kind of softwares. Salesforce falling, of course, is the outlook is pointing to a slowdown. They also announced that the co CEO was going to step down Brett Taylor. He was the latest successor to leave the company. And remember, Salesforce is a heavyweight in the Dow. It actually replaced Exxon. So this is a potentially big mover for the index of a 160 billion market cap, which is just extraordinary down 37% year to date. Yeah, well, a lot of it happened. Once again, this is one of those kind of beneficiaries of the pandemic because a lot of their stock gained during that time. What's interesting, though, is that you haven't seen the kind of depreciation for lack of a better term that you've seen in other pandemic darlings like peloton like Zoom, for example, CS force has not been one of them. Which tells you and it gives a little bit of hope from the analysts that this is going to perhaps stick a little bit. Let's stick with the tech theme though and look at snowflake, I remember the IPO being such a big deal and then it kind of collapsed briefly. It is under pressure again this morning down about just shy of 2%. Their revenue forecast missing those estimates. And remember, it was down pretty substantially earlier in the session to the tune of about 6 up down about 6%. I would say even just two hours ago. So you really saw quite a bit of those losses getting paired. And I think that's really important as we talk about once again, the same thing that fewer and fewer people are actually spending when it comes to cloud technology and software and those kinds of things. I mean, you know, it's a first slowdown I've seen, and that kind of spending, I don't know, since I've ever started following when the tech analyst told me about cloud computing, it's just been up and up and up and down. But now we're starting to see a little bit of this. Well, it's interesting that's coming now as we talk about this kind of tech reset. It's almost like finally catching up to what the markets have been pricing in for quite a while. I'll leave you with one more Victoria's Secret, not a tech company, but a major name. Still business DSC. Okay. But they closed the store across the street from Bloomberg, so I just they did, but there's one up Fifth Avenue. It's close by. VSCO shares down about 3.4% same story. They're cutting their forecast for the end of the year. They're not that confident about the holiday spending. Pretty good to thanks so much. Greatly appreciate that. This morning, futures up 13 they have advanced in the last hour. Bloomberg surveillance this morning brunch about Cohen Resnick, advisory assurance tax visit, Cohen resnicks, C suite dashboard to get the insight and intelligence. You need to stay ahead visit con Resnick dot com slash seaweed, class is in session. Michael McKee is here running all of our economic coverage and wise McKee said to me a number of months ago, hey, stupid. Don't look at the year over year data. Look at the month over month data. Is that still true? And is there true Mike McKee about core deflator and other inflation statistics that you as an adult are looking month over month? Are you asking if the numbers are still true or whether you're still stupid? We know that. That's a given. It is a month over month. If you're trying to figure out where the fed is going because the year over year is compared to a year ago and obviously circumstances were very different then. So the fed is looking at the numbers that come out today, especially on the price indexes as a PCE price indexes. And they're seeing a modest improvement on a month over month basis, we saw the core come in up only two tenths of a percent after 5 tenths games. Yes. In September. So that's what you want to see. Now it's clear yesterday that one month does not make a trade or so. The problem. Well, what did mister Powell say yesterday I have to admit I was probably watching some football or soccer yesterday. What did he say that got the market so riled up in the afternoon? Nobody knows. I have talked to so many people as 24 hours. They all want me to figure it out. Okay. And nobody really knows. There's a very interesting story on the Bloomberg that I saw this morning that suggests that very short term options traders. One day options traders, trying to front run a rally, have sparked a bit of this rally and were responsible for it yesterday. Now, I've just told you everything I know about. Okay, that's right. I think it's one of those things. I can't explain why. Well, we'll check in with Vincent's signal. That one was different. One of the trends here is the way you want to measure the gloom out there. And many people are saying the gloom is tangible. Yeah. And when we de gloom is maybe we do on the market, boom up we go. And that makes some sense to me, but you know, Michael, I guess one of the arguments out there is, boy, the fed has been so aggressive in raising rates. To the extent that they were since they were behind the curve, maybe they've caught up, and it seems like we're seeing the effects of that. Housing rolling over, we've got a lot of commodities rolling over, inflation's kind of peaked. It's starting to come down significantly measurably. Why don't they just sit on the sidelines and just kind of let their handy work do its job? Well, they're afraid of a rebound. This is not enough data to say this has happened. But what they're going to do in the meantime is slow down the pace of rate increases, which is what they're trying to do so that they can see what these lagged effects are. But getting back to your previous question too, it also surprises me that the market's rally on this because that did not say anything about cutting rates. If you're not buying because rates are high right now, well, they're not going anywhere. So yeah, I guess it's just a way to change. I mean, we saw Amazon come to the market a few days ago and put out $7 billion worth of bonds and I think they actually sold 8 and a half billion. But the rates are so much higher than where they issued before, but as I was reading the Bloomberg reporting, it was just that, oh, we've kind of stabilized rates of come in a little bit. We're still well above where we were, 6, 9 months ago, when you could have in fact issued bonds for almost zero. Now they're going to much higher rate. But so I guess it's all just relative

Salesforce Bloomberg Brett Taylor fed Bitcoin VSCO Cohen Resnick Michael McKee Mike McKee Exxon treasury
"brett taylor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:46 min | 1 year ago

"brett taylor" Discussed on Bloomberg Radio New York

"Ahead of the December 9th strike deadline. President Biden on Monday called on Congress to force a deal through, saying a strike would have disastrous consequences. Parts of the southeast are feeling the effects of severe storms and tornadoes that hit the region Tuesday and early Wednesday. At least two people, a woman and child were killed in Alabama after a tree fell on their mobile home. More than two dozen tornado reports have been made since Tuesday afternoon. Smaller interest rate hikes may be on the way. So despite some promising developments, we have a long way to go in restoring price stability. That's according to Federal Reserve chairman, Jerome Powell, who spoke to the brookings institution. The fed has been steadily raising interest rates this year in a bid to fight soaring inflation. The Los Angeles Police department is looking into the source of the leaked audio recording of three LA city council members at Matson has more. The LA times reports warrants were served for a number of social media accounts, including Reddit, which is where the audio was posted. It's still unclear who recorded and posted the file an authorities are also looking into whether it was made legally. State law prohibits unauthorized recordings of a conversation. It was made last year and contained racist remarks in a discussion between council members Mary Martinez, Gil sadil, and Kevin de Leon. Martinez has since resigned, but sidi and de Leon have refused to step down. President Biden is set to greet the prince and Princess of Wales this week on Wednesday The White House announced they'll cross paths during a fundraiser in Boston on Friday. The royal couple is visiting to promote their climate change initiative known as the earthshot prize. I'm Brian shook. New York City mayor Eric Adams is facing backlash for his plan to get more people with mental illness off the streets and out of the subway system. Scott Pringle reports mayor Adams is now directing first responders to send mentally ill people that they encounter to hospitals, whether they want to go or not. Jacqueline Simone is with the coalition for the homeless. Mayor Adams is really feeding into a harmful narrative that people who are dealing with mental health challenges and people who are without housing are dangerous. Head of the New York civil liberties union, Donna Lieberman accuses Adams of what she calls playing fast and loose with the legal rights of New Yorkers. Scott Pringle reporting several of deshaun Watson's accusers are reportedly going to be in attendance Sunday when he makes his return against his former team. The Cleveland Browns quarterback was reinstated Monday after serving an 11 game suspension for violating the NFL's personal conduct policy due to multiple allegations of sexual misconduct. Watson reached settlements with 23 of his 25 accusers. A marine veteran is making the best out of her prosthetic leg Trey Thomas explains Annika hutzler was seen on the jumbotron at the Los Angeles Lakers game Monday, pouring a beer into her prosthetic leg, and then chugging the drink as the crowd cheered. Hutzler had her leg amputated in 2019 after a tumor couldn't be removed from her foot. I'm Dre Thomas, a depressed cat from a south Jersey animal shelter has finally found a forever family fish to first spend months at homeward bound pet adoption center in blackwood after being abandoned at 5 years old and was so sad he'd only eat or look up when he had company. The nonprofit shelter couldn't find a home for fish stiffer until tweeting his petfinder profile and telling the tabby's tale. It went viral on Thanksgiving and suddenly hundreds of animal lovers offered to adopt fish defer. I'm Brian chuck. And I'm Doug prisoner Bloomberg world headquarters in New York. Let's check this hour's top business stories on the markets, fed chair Jay Powell's cemented expectations for the fed stepping down from its aggressive pace of tightening next month and Powell presented a case for achieving low inflation without tipping the American economy deep into recession. His remarks did ignite a powerful rally in U.S. equities. We had the NASDAQ composite jumping 4.4%, the S&P gained 3% the Dow was higher by 2% and the industrial average is now 20% above its October low, so the Dow is no longer in a bear market. Hewlett Packard Enterprise has expressed taking an interest in the cloud computing company Nutanix. We are told talks between these two companies have been on and off and it's unclear whether they'll be able to reach an agreement over price, new tannic by the way has a market cap of 6 and a half $1 billion. Salesforce co CEO Brett Taylor is stepping down effective January 31st after just a year in the top spot at that time cofounder Mark benioff will remain as the sole CEO and he will continue as board chairman. Elon Musk met with Apple CEO Tim Cook at the iPhone maker's headquarters in Cupertino after a few hours of the meeting, Musk said the two had a good conversation and resolved the misunderstanding about Twitter potentially being removed from the App Store. Musk said that cook was clear that Apple never considered doing so. We check markets every 15 minutes here on Bloomberg. We're seeing lower treasury yields a weaker dollar and higher equities right now in the apac in Hong Kong the hang seng is up 1.4%, Shanghai composite better by 1%, the nikkei is up by more than 1.1% in Seoul the Cosby rising three tenths of 1% and in Sydney the ASX 200 ahead 8 tenths of 1%. Global news 24 hours a day on air and on Bloomberg quicktake. This is Bloomberg.

President Biden Scott Pringle Jerome Powell LA city council fed Mary Martinez Gil sadil Kevin de Leon Brian shook Eric Adams mayor Adams Jacqueline Simone Mayor Adams Donna Lieberman deshaun Watson Los Angeles Police department brookings institution Matson Trey Thomas Annika hutzler
"brett taylor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:43 min | 1 year ago

"brett taylor" Discussed on Bloomberg Radio New York

"Bloomberg business app and that Bloomberg quick take. This is a Bloomberg business line. From Bloomberg world headquarters I'm Charlie pellet we begin with the developing stories, Salesforce co chief executive officer Brett Taylor, stepping down from his position as of January 31st, Mark benioff, the software makers cofounder, will remain as the lone CEO and continue as board chairman now after ours, we're looking at Salesforce, that stock down by 5 and a half percent, lots of earnings, among them coming out moments ago snowflake at forecast product revenue for the fourth quarter and that guidance did miss the average analyst estimate after our snowflake shares, they are falling now by just about 12%. Big day for the U.S. stock market. In fact, the Dow Jones Industrial Average year to date just about one month to go and tell the end of the year, but the doubt now down by 4.8% on the year today, big rally there with the Dow, rallying into the close, in fact, up 737 points ending the session at 34,589 up 2.2%. S&P did even better off by 3.1% today up a 122 points, but NASDAQ the outperformer up 484 points up by just about 4.4%. Ten year yield 3.63% with a two year yielding 4.34% spot gold up $19 the ounce up by 1.1%, while West Texas intermediate crude at $80, 46 cents a barrel up by 2.9%. Again, recapping stock surge after Powell's remarks, S&P up 122 up by 3.1%. I'm Charlie palette that is a Bloomberg business

Bloomberg Charlie pellet Salesforce co Brett Taylor Mark benioff Salesforce U.S. S
"brett taylor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:46 min | 1 year ago

"brett taylor" Discussed on Bloomberg Radio New York

"That's pretty much in line with what the street was looking for. And the company is sticking by its full year revenue forecast for about 30.1 billion to 31 billion here. As far as the EPS itself here, adjusted operating margin came in at about 22.7 and EPS at a dollar 40, that's versus a dollar 27. And a little bit higher than the estimate share is moving all over the map here on the day. There are other earnings that we're going to need to parse in a second. But before we get to that, I do want to go back to the yield picture. Because this was a pretty significant move down that we saw in yields today. With the two year dropping by 14 basis points today, as market now repriced in its expectations, not only for that terminal rate, but for really, I think a lot of the interim in between 4.33 on the two year 3.63 on a ten year that's down about 11 basis points. And even at the longer end of the curve, a 20 year and a 30 year down about 6 to 5 basis points at the longer end of the curve here. So market repricing guys, both on the equity side as well as what we're seeing now in fixed income as well. Yeah, Romain, a very significant reset when it comes to the yield think when it comes to U.S. treasuries. Speaking of rethinks, check out aka in the after hours. This stock has been soaring following its results because it looks like it's beating on all metrics. First of all, I want to go to the outlook because that's always key octa up about almost 13% in the aftermarket. Let's talk about the fourth quarter. And again, this is cloud. This is about authentication. This is about privacy issues, for companies, accessing fourth quarter adjusted EPS 9 cents to ten cents. The outlook was for an estimated loss of 11 cents a share. So that's very significant in terms of a difference. Third quarter revenue was a beat 481 million versus the estimate of four 64.2, and then if you look at third quarter adjusted EPS flat, the street was looking for a loss of 24 cents a share. So that's a big change in terms of expectations. And again, plays in the cloud, and this is why what we get from lockdown, what we get from a snowflake, what we get from Salesforce, because the cloud area has been beaten down remain. Yeah, Scarlett, I think other earnings cross. Yeah, snowflake just came out and we were looking at the stock falling in after hours trading after it. Third quarter revenue beat analyst estimates, but the fourth quarter revenue forecast is the issue here. 535 million to 540. The consensus was 5 51. Sorry, just so I need to go back here to Salesforce. We're now learning the Brett Taylor, the co CEO over at Salesforce is planning to step down. Just to be clear, Brett Taylor, we're learning right now, the Salesforce vice chair and co CEO is stepping down. Remember him and Mark benioff had been sharing duties here and there had been a lot of questions about whether you needed that co CEO role, though I think if I'm correct, some investors thought it would be benioff that maybe would be riding off into the sunset, maybe reducing his workload, but we're now learning that Brett Taylor is leaving guys. The former CEO is always going to be the new CEO. That's the new thing, right? Yeah, that's been repeated a couple of times here. Yeah. But he's not named bob. So we'll see how this one works out. Well, it's tough being a co CEO and benioff is there, right? I mean, the guy who's so identified with this company. And it's a company that's known for doing these co positions, but I think many would say it's very tricky to run a company. Who's that scar? Oracle also did this a while ago. That's right. Here's what Bret Taylor said in a statement quote, I'm grateful for 6 fantastic years that Salesforce and Mark was my mentor well before I joined Salesforce and the opportunity to partner with him to lead the most important software company in the world is career defining. Carol. All right, guys. Yeah. We're gonna run. Uh, lots of. We gotta run. Lots of earnings and they're moving stocks, guys. It'll carry over to that Thursday trade. That's a wrap beyond the bell. Cross platform coverage. Radio TV, YouTube. And I'm Bloomberg quick take. We'll see you tomorrow. Markets, headlines, and breaking news 24 hours a day. At Bloomberg dot com, the Bloomberg business app and at

Brett Taylor Salesforce Romain Mark benioff benioff Scarlett U.S. Bret Taylor bob Oracle Mark Carol Bloomberg YouTube
"brett taylor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:16 min | 1 year ago

"brett taylor" Discussed on Bloomberg Radio New York

"Dot com slash GA, straight to Doug Chris, then Doug, what are we looking at? It seems like this market is febrile. I would say that's pretty accurate. Some big unknowns out there. So I think we have to consider those first. We've got to contend with the impending report on U.S. retail inflation. That's stew on Wednesday, and then as you guys indicated a moment ago, earning season gets underway this week, PepsiCo on Tuesday, and then we'll hear on a Thursday from both JPMorgan Chase and Morgan Stanley. But at the moment, I think the equity market is really reflecting a lot of worry over recession and a potential hit to earnings. Look at the S&P today down 1.2% and the NASDAQ comp down 2.3%, where the Dow is concerned a loss of only about a half of 1%. That said, volume was extremely low. And that may have exaggerated some of the weakness that we saw today. U.S. listed Chinese shares fell on a big increase in virus cases in China, the NASDAQ golden dragon China index was down about 7%. Now, if you look at the treasury market, we had yields across the curve moving lower, most dramatically at the longer end with a tenured, dropping about 9 basis points two 99. That's where we were last quoted in New York trading at the shorter end, the two year was down just three basis points to 3.07%. So inversion, that's where we're getting a lot of signal on recession. But even with the drop in yields, look at the rally in the dollar. We had the Bloomberg dollar spot index up 1% today. Some of that may have been haven buying, but the yen collapsed and here we're trading one 37 35 right now, and parody Brian with the Euro. I never thought I would live to see the day. Yeah, you got to go back to 2002. Right now, 1.0040. So it is pretty amazing. Well, let's get to Twitter because this is one of the more interesting stories of the day. Twitter lost more than $3 billion in market value in the action. It shares were down 11% after Elon Musk backed out of an agreement to buy the company, alleging that Twitter misrepresented user data. Bloomberg's Jeff feely tells us Twitter is now pursuing legal action. We're waiting on Twitter to file suit. We thought maybe Elon would try to take the lead and get out in front. But it looks like we're all waiting for Twitter to file the suit. And I suppose to come sometime between now and Wednesday. So that suit's going to hit the docket and then we are going to have a judge get a sign and then we're going to basically turn on the jets and we're going to put this on the fast track and there's going to be a lot of information exchanged about bots and spam and all sorts of stuff. That is Jeff feely and Twitter has hired a law firm. It issued a letter to Musk, it's said that Twitter has breached none of its obligations under its agreement with Musk. Last week, Twitter chairman Brett Taylor vowed to fight Musk in the Delaware chancery court and compel him to follow through on the agreement, or I suppose rich to pay the penalty fee. Well, that's it, isn't it? It's not a small one either. $1 million. And that's more change. Okay, listen to American EV maker rivian. It's said to be planning to lay off hundreds of workers until the company could target a reduction of around about 5%. Rivian's workforce is more than 14,000. Our very own Ed ludlow tells us where the cuts would be focused. According to sources in the key point, these are non manufacturing roles. It's areas where rivian frankly grew too big too quickly, right? Caught up in the kind of startup hype in the EV world. There are lots of business areas where they have duplicate roles, so they're taking a look at the macro environment according to sources, they're pairing things back, but those manufacturing roles are protected because as you say, last week, when we had that second quarter production number, they are ramping, right? They almost doubled production from one Q to two Q despite ongoing supply chain challenges, particularly in the shortage of basic semiconductors. We're told rivian's actions could be announced in the coming weeks, the layoffs are still in the planning stage and nothing's been decided. Michael Volga zang is coming up in a few moments, CIO at cap trust, and it'll be interesting to see whether or not he is in these sort of batten down hatches mode or dip your toes into the water. So that's coming up the time now 5 and a half minutes past the hour. Time for global news. United Nations is forecasting

Twitter Doug Chris Jeff feely JPMorgan Chase PepsiCo U.S. China Morgan Stanley Musk Doug Brett Taylor Elon Musk Delaware chancery court
"brett taylor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:03 min | 1 year ago

"brett taylor" Discussed on Bloomberg Radio New York

"And Bloomberg television. The body of Shinzo Abe has been returned to his home. A motorcade carrying the body of Japan's former prime minister arrived at his home today in Tokyo. Avi was assassinated Friday while giving a campaign speech. The suspected shooter of 41 year old unemployed man with a homemade gun. Flags at The White House are flying at half staff in his honor. The White House says President Biden will do everything he can to secure abortion rights that promise from press secretary karine Jean Pierre Friday after the president signed an executive order, aimed at preserving access to reproductive healthcare across the country. Former White House counsel pat cipollone is reportedly being cooperative with the house January 6th committee. Cipollone met with the committee behind closed doors for over 8 hours Friday for a videotaped and transcribed interview. The U.S. Army says nearly 60,000 members who refused to get a COVID shot will be barred from their duties. The army says the members will be banned from participating in training and their pay will be blocked. I'm Scott Carr. And I'm Susanna Palmer in the Bloomberg newsroom. All 5 boroughs of New York City are back in the CDC's high risk category for COVID community spread. This as of the agency's Friday update. The city's Department of Health says face masks are being recommended for everyone indoors and in public settings regardless of their vaccination status. A rising crime is worrying New York City's business leaders who, so far, have been unable to use their influence to demand improvements. That, according to former New York police department commissioner Bill Bratton. They understand it the subways I'd say the streets and how they have offices and properties that I'd say. People aren't going to come to work, particularly in this post COVID era. So they understand that. And this is unity back in the 70s in the 90s and a day during my two times suspicious rallied with the police department and the mayor to take the city back from the criminal element that had taken it over. Bratton was interviewed on Bloomberg balance of power with David Westin. As missed warning signs, pile up and investigations of mask killings, New York State is rolling out a new strategy to screen applicants for gun permits. We get more about that from Bloomberg's Denise Pellegrini. People who want to carry concealed handguns Susanna will be required to hand over lists of their social media accounts for a review of their character and conduct. This is an approach that's being applauded by many Democrats and national gun control advocacy groups, but some experts have raised questions about how the law will be enforced and how it will address free speech concerns Susanna Bloomberg, Pellegrini. And as we have been reporting Elon Musk's move to dump his $44 billion deal for Twitter sets the stage for a big legal battle in a Delaware court, minutes after mosque disclosed his intention to exit the deal, Twitter chairman Brett Taylor responded with a threat to take the world's richest person to court. Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. I'm Susanna Palmer. This is Bloomberg

President Biden karine Jean Pierre pat cipollone house January 6th committee Cipollone Shinzo Abe Susanna Palmer Scott Carr White House Bloomberg television COVID New York police department Bill Bratton Bloomberg New York City Avi Tokyo David Westin U.S. Army
"brett taylor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:57 min | 1 year ago

"brett taylor" Discussed on Bloomberg Radio New York

"Global news update. Gas prices are starting to come down a bit after months of record highs, triple-A spokesman Andrew gross, says Americans can expect that trend to continue. The two key factors contributing to these lower gasoline prices are the price of oil, which has come down in the past couple of months. And there's been less demand. And that may be because fewer people are driving right now. The national average is now 26 cents lower than the record set on June 14th of 5 O one that would put it at four 75 a gallon. 80% of gas stations are now charging less than $5 a gallon. President Biden is taking action to try to safeguard access to abortion and contraception. He signed an executive order aimed at preserving access to reproductive healthcare across the country. White House press secretary Jean Pierre again criticized the recent Supreme Court ruling overturning roe V wade. That was the landmark 1973 decision which led to the legalization of abortion in the U.S.. Twitter will be pursuing legal action against Elon Musk after he terminated the deal to buy the company for $44 billion. Brian shook has more. Musk announced Friday morning he would not be going through with the purchase, citing material breaches of provisions in the agreement, Twitter chairman Brett Taylor announced that the board is committed to making the deal happen and is prepared to sue Musk to enforce his promise to buy the remaining shares of the company. I'm Brian shook. Senate minority leader Mitch McConnell says he's praying for the people of Japan following the assassination of former Japanese prime minister Shinzo Abe. Abe was shot and killed while campaigning for members of his party. McConnell says he was horrified by the assassination. He called out there remarkable global leader and a stalwart friend of the United States. Representative Benny Thompson is encouraging his supporters to follow his newly created TikTok account. The Mississippi Democrats sent out a tweet on July 1st with his username and an invitation to follow him, his account has not posted any videos yet and has 55 followers. I'm Brad Siegel. Monkeypox cases arising in California, and those who are considered high risk of contracting the disease are able to receive a vaccine. Julie Ryan has more. Most of the recent cases in our area have occurred among persons self identifying as men who have sex with men, so Sacramento county public health is making the preventative vaccine available to those who are at higher risk, since the beginning of July 111 cases have been reported in the state, with 8 in Sacramento county. To receive the vaccine as a form of prevention, individuals can call their healthcare provider or the Sacramento county public health immunizations assistance program. I'm Julie Ryan. The furnace cranks back up this weekend with temperatures across the south topping triple digits, the hot and dry weather, has scorched crops and farmers are being hit hard. Russell baining heads the Texas farm bureau and says farmers don't like tearing out their dead crops and collecting insurance, but it's part of the business. Ranchers, he says they're selling their livestock because the upkeep is too expensive. Governor Brian Kemp has a good problem on his hands trying to figure out how the state of Georgia will spend more than $2 billion in COVID relief funds, Liz Kennedy has more. The money is part of Georgia's second installment of nearly $5 billion of federal funding, it was promised in 2021. Governor Kemp set aside grant's earlier this year for water and sewer improvements, and money to help businesses recover from pandemic impacts. The AJC reports the governor has the final decision over how to spend the COVID money, according to state law. Georgia has until 2024 to spend the funds. I'm Liz Kennedy. After speculation that Disney wanted to spin off ESPN, the company now reportedly has decided to keep the Sports Network, according to an industry news website, Disney decided to keep ESPN because of potential competition from the likes of Apple and Amazon. I'm

Brian shook Andrew gross President Biden roe V wade Julie Ryan Brett Taylor Representative Benny Thompson Jean Pierre Brad Siegel Elon Musk Monkeypox Sacramento county Twitter Shinzo Abe Musk Mitch McConnell
"brett taylor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:00 min | 1 year ago

"brett taylor" Discussed on Bloomberg Radio New York

"It is 8 30 a.m. in Hong Kong ten 3 a.m. here in Sydney angel yet Sully And I'm Brian Curtis We are setting up for some pretty big losses in the Asia Pacific today We rewind back to Friday with the Dow industrials fell almost a thousand points and that kind of sentiment feeding through into the region this morning We'll get details with Krishna in a few moments But for now some of the top stories of the hour Juliet And watched for more headlines ran on Twitter in the next couple of hours we're hearing Twitter now appears to be more receptive to billionaire Elon Musk's takeover offer sources telling us Musk is meeting with Twitter executives on Sunday to discuss the offer He is Bloomberg's zucchini This meeting comes just days after Elon Musk filed his financing plan That made his hostile bid very real Now The Wall Street Journal quoted people close to the matter earlier as saying Musk did meet privately over Zoom with shareholders to pitch his proposal the paper also said Musk had told Twitter chairman Brett Taylor in recent days that he will not adjust his 54 20 a share offer And The Wall Street Journal also said Twitter is working on an estimate of its own value We're also getting some headlines about Musk's spat with the Saudi PIF which has been revealed in 2018 texts with him saying in one exchange you are throwing me under the bus Well if you're looking for a possible positive catalyst a treasury secretary Janet Yellen suggested that the U.S. is open to scaling back the Trump tariffs on imports from China She was speaking on Bloomberg TV's program balance of power Yellen said that the move could help provide Americans some relief from the fastest inflation in four decades We're reexamining carefully your trade strategy with respect to China and I think it's worth considering we certainly want to do what we can to address inflation and there would be some desirable effects It's something we're looking at The Peterson institute estimated recently that eliminating the Trump tariffs could reduce inflation by 1.3 percentage points in the U.S. economy Yellen also said that she doesn't see China undermining sanctions on Russia but she would like to see China do more Well Chinese conglomerate HNA has completed its restructuring work this coming after a group was set up more than two years ago to handle the task H and a piled up one of China's biggest corporate leverage loads It was effectively seized in 2020 by the government Now the company says all four restructuring plans have been completed with court approvals and the reorganization involves billions of dollars in debt It might serve as a future road map for China evergrande and other distressed developers in the country Three minutes past the hour let's get Doug prisoner who's looking at the markets So it's a lot of things It's the COVID shutdowns in China's inflation a whole bunch of You're absolutely right I have to put the cost of virus related lockdowns in China right at the top of the list along with the fed's posture to be a little aggressive in terms of tightening Local authorities in chenghai are fencing off apartment building entrances to further restriction movements across the city and a short while ago iron ore futures in Singapore were down about 15% obviously the chief concern here is weaker Chinese demand steel production as is obviously being impacted by those lockdowns And two Chinese state banks were reportedly will reportedly cut their deposit rate ceilings today at some point That's according to Reuters the publication indicating that regulators are urging lower financing costs to support smaller companies The last check for futures trading this is stock index futures for the Hong Kong market Hanks and contract was off about 1.2% We had a tough session in the U.S. on Friday with the S&P down about 2.8% Number of shortfalls not just in earnings but in guidance as well and on top of that a lot of anxiety is whether the fed can manage a soft landing Right now in Tokyo we've got the nikkei weaker by about 1.9% communication services stocks are weak along with industrials and some of the consumer discretionary stocks as well In Seoul we've got the Cosby off about 1.2% no trading in Australia today It's a market holiday And if you look at what's happening in terms of U.S. sovereign debt ten year treasury at two 88 and yield terms So we're down to about one basis point and a two year at 2.66% The dollar steady we're seeing a stronger Euro where the greenback is concerned after Emmanuel Macron defeated marine le pen in the French presidential election and where the Japanese yen is concerned more weakness right now down about two tenths of 1% trading around one 28 70 against the greenback We'll check markets again in about 15 minutes Juliet Thanks doctor 35 minutes past the hour time for global news.

Twitter Yellen China Elon Musk Brian Curtis Musk Brett Taylor Saudi PIF The Wall Street Journal Janet Yellen Bloomberg TV HNA Asia Pacific U.S. Krishna Peterson institute Bloomberg Hong Kong
"brett taylor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:03 min | 1 year ago

"brett taylor" Discussed on Bloomberg Radio New York

"Wall Street estimates for its fourth quarter with revenue up more than 25% and a strong forecast ahead as the company works to integrate its $27.7 billion acquisition of slack Brett Taylor Salesforce coach CEO with me now who was promoted in the last quarter Brett great to have you back with us Look it's an inflection point in Salesforce's history and world history and I have to ask you about what's going on in Ukraine and geopolitics right now How concerned are you about what this means for humanity and the global economy and business Well I want to start where you just started which is humanity Our hearts go out to the people of Ukraine watching this suffering cloud in real time in the media is just horrific And what we had Salesforce don't really have a presence in the region like everyone we're trying to show up as humanitarians to help this effort at the Ukrainian people and all the refugees in the region Speaking to the economic impact there's a lot of uncertainty in the economy right now This war in Europe which is horrific inflation the supply chain crisis despite all of that the one thing that's enduring is it really investment in digital technologies The acceleration acceleration of the digitization of the economy that started by the pandemic really continues sort of full speed ahead and you really saw that in our record performance this past year which we're so grateful for in the face of all this disruption which is why we beat our Q four guidance raised our guidance for next year And we just continue to see momentum in all aspects of our business We've seen a number of companies self sanctioning Apple Netflix to a certain extent Ford Is that something that Salesforce is considering in the moment when it comes to Russia Well as you mentioned Emily we don't really have a presence in the region We've never had an office there We don't have employees there We don't have a material business there So our focus is actually really been on how can we use our business as a platform for change We made a $1 million grant to help with the refugee crisis and help ease this effort in the Ukrainian people I've been really hard to see so many Salesforce employees show up and ask how they can help We have a number of employees with families in the region We're really trying to help out all of the Salesforce family in a time of global crisis and really trying to have the humility to understand what can we do to play our part in this humanitarian crisis Now I know you had a strong quarter M and a has been a key strategy to drive growth You were the chief architect of this slack acquisition And I know you've ruled out material M and a for the near future but could the changing global dynamic change that strategy Could you be open to it You know honestly we're not interested in material M and a in the near term And it's because we're so excited about slack We spent the past two years with this global pandemic in different stages of the world keeping people in their home offices and keeping people away from their offices Coming out of this pandemic as people reconnect this idea that every company needs a digital headquarters to connect their employees and their partners because we are going to be working from anywhere And I think that's incredibly exciting You saw it and just the incredible momentum of the slack business this past quarter So I actually grew their $100,000 customers 46% year over year this quarter We see such great momentum That's really my focus and that's the focus of the management team Now I know you were listening to the segment earlier You are also the chair of Twitter's board the subject of misinformation and how big tech companies are handling it Has been a very big topic How do you think Twitter is handling Russian dish and misinformation What more do you think platforms like Twitter and Facebook and TikTok can do Well first I just want to express my confidence and Prague the new CEO of Twitter and the Twitter management team and helping the company navigate this crisis As your previous guest alluded to these are some of the most complex and sophisticated problems any technology companies facing right now I think it's also shown the importance of Twitter as a platform for public conversation as so much of this plays out on the platform So I know these are incredibly complex and nuanced issues I'm really enjoying the previous segment And what I can say is I just have faith in Prague and the team of Twitter and helping the company navigate this on behalf of all Twitter stakeholders Now last quick question look Salesforce shares are down from a high in November Why do you think there's this disconnect between the optimism I hear from you and that I hear from Mark and the stock price Yeah we just put up the best year in our company's history the best quarter raise our guidance for this year I can not be more excited about the future of Salesforce's business Really across all parts of our portfolio We're 20 to 23 years old next week Our sales cloud grew 17% this year and over $6 billion revenue run rate slack is doing well organic and organic investments have been never been doing better And as you know I think the stock price will follow We know we show up for our customers drive performance for the company show for all of our stakeholders We believe in the long run our.

Salesforce Brett Taylor Russia Twitter Brett Netflix TikTok Emily Europe Ford Apple Prague Facebook
"brett taylor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:30 min | 1 year ago

"brett taylor" Discussed on Bloomberg Radio New York

"Reporting results as well We'll talk about the broader crypto landscape of course and Salesforce co CEO Brett Taylor joining us exclusively You don't want to miss that I'm Emily Chang and San Francisco This is Bloomberg There are a lot of ways to look at the world right now It's saying that you've got an overweight on Hong Kong And the more of them you can access the better What has to be his strategy Perspective Who's doing small best clarity How do we get it to that The benefits get to everybody Expertise He seems to have exactly the right combination It's character plus policy Bloomberg radio the Bloomberg business app and Bloomberg radio dot com Bloomberg the world is listening Economics All this doomed groom was out there finding Do you see this as a technical correction investment What are you looking at to give you some sort of compass through this period Does Bloomberg surveillance podcast Lots and lots of talk about what the fed should and shouldn't do Lisa Brahma.

Salesforce co Brett Taylor Bloomberg Emily Chang com Bloomberg San Francisco Hong Kong Lisa Brahma
"brett taylor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:11 min | 2 years ago

"brett taylor" Discussed on Bloomberg Radio New York

"The ecommerce leaders like Amazon And those are led by technologists And I think that as the world moves more into this technology world we're all living through having a technology just at the home is a huge huge asset We're seeing it not in the companies We're talking about but in the companies that we serve as customers of ACTA it's a strong trend I see continuing Totally understand why having those technical skills can be hugely beneficial CEOs are also having to deal with major regulatory issues global regulatory issues Jack Dorsey is having to decide free speech issues whether or not to kick the president off the platform So I wonder if it can be at all a disadvantage not to have that kind of global view of a business The thing about the job is that you have to have many many perspectives and you have to have many many viewpoints I think maybe in the past one of the raps on technologists was that they were too narrow They saw technology only and everything else was at the expense of technology But all these people were talking about being promoted to these jobs have a broad perspective on the different challenges and the different opportunities And they're also good at building teams back to back to Mark and Brett It's kind of the ultimate team building Elevate someone to the CEO level and share that in terms of teamwork They're strong teams behind these organizations And you have to balance off a tech centric world with all these broad issues you're talking about And hopefully you get more decisions right then you get wrong That's the best we can hope for Well speaking of balance Brett Taylor not only was promoted to co CEO two days earlier he was promoted to chair of the Twitter board isn't that a lot for one person if we're talking about taking things away like Jack Dorsey not being CEO of two companies in just one Isn't that a lot for Brent to handle He's a talented guy And I think he can probably help each organization bringing the perspective of the other one because one of the things trying to do on a board is build a board of diversity in terms of lots of different things One of them being thought and experience and I think when you think about building on a board not only from the enterprise side or from the social media experience side and the rest of the people on the board that can bring various viewpoints there it's a strong board as well Meantime ACTA is of course one of the biggest players in enterprise and identity security curious what's on your mind for 2022 where do you think the biggest threats are Well along with the rise of technology we've talked about this trend and how it's never been more of a board level conversation in a CEO level conversation as to how companies are going to build new products how they're going to take their existing products and move them online and make them more compelling in this competitive techno centric age along with that come security So with the rising rewards that you can get from automating things and conducting them from a technical perspective the bigger the risks are for security So there's always a balance there that I think another another benefit of having technologists in the boardroom and in the top executive chairs is they have a perspective on some of the not only the upsides of this technology but the risks involved because it's always about balancing It's about doing the most with the asses out your disposal without exposing yourself to undue risk and managing that risk when it does when it does arise So is ransomware for example still going to be as big a threat It was as it was in 2021 or bigger It's a rising threat So 2021 was really a marquee year for ransomware and we expect that to continue And that's mostly because companies have so much at stake online They have so much at stake building these big businesses building these big opportunities connecting with their customers with their supply chain And that opens up risk So companies at the same time are taking mitigation steps and we as an industry are working hard to make sure that that risk is managed in companies aren't don't run into these unforeseen issues All right Todd McKinnon CEO of great to have you back Todd thank you for stopping by Coming up It is the twist no one expected including peloton We'll have more next on their.

Jack Dorsey Brett Taylor ACTA Amazon Brett Brent Mark Twitter Todd McKinnon Todd
"brett taylor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:22 min | 2 years ago

"brett taylor" Discussed on Bloomberg Radio New York

"A request to open a cryptocurrency exchange in Singapore That ends an effort that started last year We spoke with the CEO of binance on Bloomberg earlier We're not that disappointed This is the original plan So we just invested in a local regulated exchange called HT We usually call it X DX So this is then we'll have two duplicate things in the run for a small market So Singapore is a very advanced market and is very pro crypto We just didn't think we needed to both applications there and it's kind of heavy Finance also will wind down its digital payment token business in Singapore Meantime this year has seen a game of executive musical chairs with a wave of newcomers bringing in a technical background From Salesforce's new co CEO Brett Taylor who started out as a software engineer and was of course CTO of Facebook to Jack Dorsey's departure from Twitter with its CTO taking over as CEO I want to talk about that more with Tod McKinnon CEO and cofounder of octa who worked at Salesforce for many years before cofounding Todd great to have you back with us I'm so curious what you think about this Brett Taylor news He's now co CEO with Mark benioff Does this make sense to you It's great to be on Bloomberg technology Emily thanks for having me I think it's great for Salesforce and it's great for bretton It's great for Mark You get a world class technologist and product person in Brett And we all know what market is He's a legendary in terms of leading the company and vision and evangelizing all the latest greatest technology It's a killer combination And I think a Salesforce thinks about what it's going to do in the decade ahead is it's going to continue its product evolution and its architecture It's amazing to have Brett and that seat Let's not forget Salesforce had a co CEO before Keith black It didn't work out Why do you think chances are better this time And do you think this paves the way for Benny off to eventually make an exit I think Marcus said this is well I can't imagine Salesforce without Mark He's created the company he's grown at He's there forever And I wouldn't say it didn't work out with Keith I mean they were pretty pretty successful with Keith in that seat So I think this is just the next evolution of it When you look at the company the scale they're operating at the latest quarter was over 6 billion in revenue They have a lot of sales to do They have a lot of marketing They have a lot of positioning and they have a lot of product and technology to build And having Bratton mark in the CEO seats is an amazing combination to do that Okay but the Keith blocks thing didn't last more than a couple of years We'll see how long this one lasts I hear you We are seeing a wave of departures from MuleSoft There's a lot of talk about whether MuleSoft can continue to deliver on the numbers that it's seen in past years What do you make of that Is that a red flag I think there's an organizations that are growing and dynamic and companies are coming together There's always going to be change But I like to zoom back and look at the landscape what's going on And this is why broadly not just Salesforce or not just Twitter This is broadly speaking why there are more technical CEOs being promoted into that job And that's because in every.

Salesforce Brett Taylor Singapore binance Tod McKinnon Bloomberg Mark benioff Jack Dorsey Keith black Brett octa Keith Mark Todd Emily Twitter Facebook Benny Marcus Bratton
"brett taylor" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:59 min | 2 years ago

"brett taylor" Discussed on Bloomberg Radio New York

"Spree And for a 5th day the embattled theranos founder Elizabeth Holmes takes the stand The latest twist in her testimony holds claims she was raped at Stanford We'll ask a top law professor What he makes of her defense We'll get to all that in a moment but first let's go to look at the markets where comments from fed chair Jerome Powell weighed heavily on the major benchmarks Bloomberg's pretty Gupta with us for the details Katie walk us through the day Yeah Emily a double whammy when it comes to the stock market in particular especially when it comes to toast tech stocks which really weren't able to lift the market higher at the far start You had futures just lower right off the bat A lot of this has to do with that COVID uncertainty What is the Omni bare cron variant excuse me Is it actually as dangerous as say some countries are willing to bet that it is really locking down into that and really uncertainty that you're seeing way on the markets here The S&P 500 down 1.9% the NASDAQ just slightly better than that but still down one and a half percent The vix is really what I want to keep our eyes on because it's up to a 27 handle The equity volatility really catching up to Bond volatility Now we have let's get to the other part of the equation which of course is chairman Powell Coming on saying well we might actually start to pick up the taper a little bit and address the supply issues which is essentially inflation at the core of it So you did start to see 30 year yields actually dropped to the lowest since January I bring up 30 year yields Emily because this has a lot to do with tech They're actually seen as long duration assets which is really why we like to sew together the tech world and the bond world The idea here that the curve the treasury curve it's flattening There's no longer a premium and extra bonus that you get for actually taking on that risk And if you start to see that sentiment way into tech as well you could start to see tech actually lead the declines rather than outperform Let's hit the micro really quickly and end with that with Salesforce because it is down after hours down almost 6% This of course coming after they did beat their earnings but they also gave a very disappointing sales and profit forecast as well And excuse me talking about promoting Brett Taylor to becoming chief co executive officer but Emily right now is that forecast that's really weighing on the stock after hours All right big news over at Salesforce kriti thanks so much for breaking it down I want to continue with Salesforce now the stock falling on that disappointing profit and sales forecast But again in a separate announcement Bret Taylor has been promoted to co CEO with Mark benioff who will also remain board chair Taylor has been president and chief operating officer of Salesforce since 2019 For more I want to bring in Liz Herbert forster research vice president and principal analyst This has been speculated about Liz for quite some time What do you make of this announcement Exactly I think it's no surprise Brett has been there He came in actually through a collaboration oriented acquisition that's clearly a direction that they continue to invest in most recently with the phenomenal slack acquisition the biggest in their history So no real surprises for most that he's now being elevated yet again to the co CEO I actually asked Brett Taylor this very question about 6 months ago on the show whether there was any truth to the rumors Take a listen to what he had to say that It has been speculated that you are the heir apparent to potentially the CEO job at Salesforce Is there any truth to that Well I can't comment on that but I will say we actually talked I think you know just a couple of weeks after I sold my company crypto Salesforce and I can't say I imagine sitting in this chair right now And it's been by far the most fun time of my career And both my relationship with Mark which is amazing as a mentor and a friend but also just being at this company right now As I said to be able to provide digital technology to so many companies who absolutely need it right now is the most privileged position I could be in Both as a designer software but also as someone who has formed great relationship with so many of our customers So I'm really happy and obviously can't comment on that rumor but I'm very happy in the job I've been right now Brett Taylor handled the slack acquisition almost entirely which was an incredibly large acquisition even Mark benioff told me that but how do you think they're going to divide responsibilities How will this co CEO role actually work Let's remember this happened before with Keith black who was also promoted to coast CEO and that didn't last too long That's right Well in general most companies don't have a co CEO You saw that at their competitor SAP for a while and they reverted back to a single CEO You know but likely Mark will move on to other things right His real passion is so much greater than this very successful cloud computing company There are so many other causes that he lives for and that he promotes And so likely I would see over time a gradual increase of Bret's responsibility So that Mark can go on to some of those other activities that he's interested in And that he's also been very successful in really changing the world in a lot of levels whether it's the one one one model or of course him and his wife what they do for healthcare in the hospital and just so many different organizations that they contribute to So what do you make about the forecast I mean do you have any concern This is a company that is competing in a world of software giants and commanding a premium price Exactly So you know Salesforce first of all they're very aligned with what we see today Companies are reinventing themselves cloud increase and accelerated during the pandemic They are right there You know they are the original SaaS company the SaaS poster child And they're very much thought of as a platform to enable a company's digital transformation They're also in the world of customer which we've seen a lot of investment in and increasingly in the world of employee All areas of growth and investment Salesforce over history has had a lot of ups and downs with profitability This is normal for them You know they spend a lot on sales and marketing Some of that has been because they're paving the way in sass They've had many unprofitable quarters They've had great profitability sometime So.

Salesforce Brett Taylor theranos Elizabeth Holmes Jerome Powell Mark benioff Salesforce kriti Bret Taylor Liz Herbert forster Emily Bloomberg Stanford Katie fed Powell treasury Keith black
"brett taylor" Discussed on Bloomberg Radio New York - Recording Feed

Bloomberg Radio New York - Recording Feed

01:41 min | 2 years ago

"brett taylor" Discussed on Bloomberg Radio New York - Recording Feed

"We used to take our freedom of movement for granted not anymore. it's not just if he work for the airline and its natural. Feel grateful for the things that kept you going. Does america have a chance to lose our advantage. Can we get to her community fast enough so that will be in good shape but really we. Were just doing our jobs. Oxford university is starting a study on patients who've recovered from covet bloomberg radio the bloomberg business app and bloombergradio dot com bloomberg. The world is listening estimate. Twenty four hours a day and the bloomberg business app. This is bloomberg radio now. A global news update from the heart of where innovation money and power coli means silicon valley and beyond. This is bloomberg technology with emily j. I'm caroline hyde in new york. Emmy chime this has been by technology and coming up in the next hour. Bitcoin jumped past thirty two thousand. Moscow admits votes. Tesla and spacex and cryptocurrency. This just a day. After of course cryptos drop about fifty percent from its april peak. You talk about the volatility plus salesforce completes its acquisition of slack the company for the transition into the digital world which will salesforce president brett taylor about the future of a hybrid work and how slack fits into the overall business model and what to do with will smith odell beckham junior ashton kutcher and kevin durant. We'll have in common..

bloomberg emily j caroline hyde Oxford university america Bitcoin salesforce spacex Tesla Moscow brett taylor new york smith odell beckham ashton kutcher kevin durant