35 Burst results for "Emily Chang"
China set to revamp Hong Kong's electoral system
"It effective control over hong kong's system npr's. Emily fang says the law comes on the last day that china is holding big political meetings dubbed as quote perfecting hong kong's electoral system. The new law in practice does something very different. It allows beijing to expand an election committee with its own appointees that can pick the region's top leader some legislators and veto election candidates guaranteeing pro-beijing factions control in both institutions and two thousand eighteen massive anti-government protests against beijing's rule rock hong kong since then beijing has used laws to eliminate room for dissent hundreds of activists journalists and politicians have been arrested under a national security law passed last and today's law passed. An annual legislative and political summit in beijing makes it impossible for pro-democracy parties in hong kong to win control of the legislature as they had hoped to do last autumn. Emily chang. Npr news beijing. Today is the tenth
China, Russia Announce Plan To Build Moon Research Station
"Details from NPR's Emily Fang. Both China's and Russia's National Space Agency, said in separate statements that they would begin planning a joint international lunar research station. Ross Cosmo's Russia's Space agency said the station could orbit the moon or it could be on the moon itself. Neither agency said when construction and such a station might begin, though. China has invested heavily in its base conditions. It successfully sent a probe into orbit around Mars this year, and it could begin construction on an international space station as early as this year. Current international space station has been in orbit around Earth since 1998 but is set to be retired by 2030. Emily Chang. NPR NEWS Beijing Another glance at Wall Street. The Dow Jones industrial Average is now up 1.5%
"emily chang" Discussed on Bloomberg Radio New York
"Here's Emily Chang. This back phenomenon continues. Former All Star for the New York Yankees. Alex Rodriguez, a K A Rod has joined the lengthening roster of financiers, executives, politicians, celebrities and athletes who signed on to special purpose acquisition Cos. Lamb core began trading Tuesday. And will now start scouting for a merger deal to enrich him and his investors. Alex joins us Now We just heard some commentary from Charlie Munger, Warren Buffett's right hand who said the world would be better without specs. Why do is back and why Now? I can't speak for the masses, Emily, But I can tell you this that this pack world is custom made for us because we have a deal flow coming out of our ears. Barrier to entry has been capital. And now with this pack, we level out the playing field and we can really have a big time competitive advantage and go out on a mantra. 90 Slam bring a lot of value to founders and cos There are so many deals. Coming your way. What kind of deals are you looking for? We like sports media technology. Anything we do is gonna have a tech should be the backbone. The company and his companies where we could get involved, you know, tell the story get involve with the founders, Marshall or I, Or maybe both will sit on the board and be very involved here. More interviews like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile APP or check your local cable listings, Markets headlines and breaking NEWS 24 hours a day at Bloomberg, calm the Bloomberg Business at hand at Bloomberg. Quick Take This is a Bloomberg business Flash. Thank you, Bernie. I'm Karen Moscow. Bonds are selling off, stocks are rising on prospects of a stronger than expected recovery. Encouraged by ample fiscal and monetary aid, the 10 year Treasury yield climbed to the highest in a year. We check the markets every 15 minutes throughout the trading day on Bloomberg S and P Futures are lower. Down four points Now down Futures up. 43 NASDAQ Futures are down 75 the DAX in Germany is little changed. 10 Year Treasury Down 1930 seconds healed 1.44%. Field on the two year 20.13% of the 30 Year. Yield. 2.29% Nymex crude oil's up about 2/10 percent er, 10 cents and 63 32 a barrel Comex gold is down 4/10 percent, or $7.20, a 17 90 50 announce the euro 1.2236 Against the dollar, British found 1.4165 and the innocent 106.5. It's a busy day for economic reports, durable goods, orders, GDP and a weekly report on initial jobless claims. All added a 30 Wall Street time attend. It's pending home sales and best spies among companies scheduled to report earnings today We'll see. ABC posted fiscal first quarter profit that talked, analysts estimate.
Did Bill Gates Seriously Short TSLA Stock
"Robbed our here and today we're going to be talking about bill gates response to on musk's claims the oregon podcast a couple of weeks. Back that get heard. That bill gates had been shorting stock. We've also got some news on the broader electric vehicle automotive market an interesting response from yvonne on an article from the washington post. And of course. We've gotta talk about tesla stock. It's about wild couple of days. We had the interview yesterday with alex rotter so we didn't get a chance to talk about it. But of course yesterday. Tuesday february twenty. Third tesla dropped to a low of six hundred nineteen dollars per share. That was down more than thirteen percent from the prior. Close then of course. We saw us swift recovery in the market. And from tesla tesla finishing down just two percent yesterday on the biggest volume day that we've seen in over a month and a half with sixty six million shares trading hands yesterday. So i talked about on monday and we briefly talked about yesterday in the interview as well. A lot of this is tied to expectation on interest rates. So yesterday fed chairman. Jerome powell made comments to congress. Indicating the current monetary policy is expected to continue for some time as economic uncertainty remains so not to get too deep into that. We've talked about that. Of course in the past but as far as tussles yesterday certainly was not isolated to tesla. Those sort of concerns were broadly extended to high growth. Stocks tussle obviously falls in that category. And i think the volatility there serves as a nice quarterly reminder that you have to be very very careful with stop losses on a volatile stock like tussle as for today tesla continue to rebound finishing up six point two percent to seven hundred and forty dollars two cents. That compared to the nasdaq up one percent. All right so i up today. I want to continue a conversation that we began a couple of weeks back after yvonne. Musk went on joe. Rogan's podcast for the third time and said that he had heard from people he believes would know that bill gates had shorted tesla. Yvonne brought that up in response to a question from joe rogan on the tesla semi citing that bill gates in a blog. Post a few months back had said that eighteen wheel electric semi is probably would never work so allen's claim here understand. We drawing a lot of attention not the first time something like this has happened between musk and gates last year. He did by his first electric vehicle. The porsche ticon. Which at the time. Maybe it wasn't so clear why he didn't by ordering vehicle up until that point. Well now we might have a better answer for that. But he talked about the decision in an interview with marquez brownlee and it seemed to be a relatively tepid endorsement of electric vehicles gatesville right up ranging anxiety as a problem and elon. Musk responded to that interview. Not necessarily gives purchase of tycoon but those comments in general by saying that quote my conversations with gates have been underwhelming to be honest and so that catches us up to today and then we have launched claiming that he heard gates which tesla now in the last week. We've had both cnbc and bloomberg asked gates directly about that claim. I think gates tone is important these responses so i will play the actual clip. The i wanna hear from andrew. Ross sorkin cnbc asking gates so so you're not sure tesla's stock were clear. Yeah i'm not. I don't talk about my investment. But i think he should be very proud of what he's done. Okay so technically there. He did say yeah. I'm not but it sounded like he was more starting a sentence of saying yeah. I'm not going to talk about my investments not yet. I'm not sure tesla because he interrupts himself and says i don't want to talk about my investments so to me. That's a no comment. Rather than a denial. What's interesting here is his reason saying he doesn't wanna talk about his investments but in the exact same interview. He talks about his investments multiple times. He says quote when i invested in impossible foods or beyond me or quantum scape. I was doing that just to help their own climate. Now it looks like those three will be very successful companies. And so i'll have more money to put into the tough areas a climate like cement and steel and quote. Okay so he says he doesn't want to talk about his investments but then he in response to another question talks about his investments in impossible foods beyond me quantum scape and then how does investments are doing and that i'll have more money to then go on an invest in other stuff. I mean how much more could you talk about your investments. And he uses the first person tense. You're saying i invested. He's asked about bitcoin and he says quote. I don't own bitcoin. I'm not short bitcoin. So i've taken a neutral view and quote so for bitcoin. Perfectly fine to say i'm not short bitcoin. Same question for tesla. oh. I don't want to talk about my investments that we just spent a bunch of time talking about. If you're not going to answer the question at least come up with a better non answer. That doesn't immediately contradict yourself. He has to have known that he'll be asked about that and yet seems completely content guard answer so that was last week if there was any doubt left after that because he did start off. By saying yeah. I'm not before interrupting himself as we said. Here's gates on bloomberg yesterday so we had five days to think about this answering the same question from emily. Chang yuan has in the past claimed you shorted tesla and i wonder if there's any truth to that Well you know i think. Test us on amazed seen company I wish you know own. Been more on the long side. But i it's it's great And you know i have. Lots of relatives won't tassels Helped by for them. So you know nothing. But positive thoughts about tesla role. Okay so if the answer to the cnbc question was a bit of a flood. There was a clear opportunity to just say. Hey i'm not sure. Tesla was jor tesla and again gates passes and he sure doesn't look comfortable to me answering the question. Belief is that it looks pretty clear. That bill gates was short. Tesla who knows if he's still is it'd be surprised but come on. How are you going to be all about climate change and then short the one company that's doing more than any other company on earth to combat it. If you don't think it's a good investment you think it's overvalued you can just not invest in it. No one has any problem with that but too short it push the stock price down. Make it more difficult for tesla to raise capital. That's something else entirely.
"emily chang" Discussed on Bloomberg Radio New York
"Here's Emily Chang CEO Jeff Bezos. Announcing he will be stepping down from his role in the third quarter and that Andy Jassy will become the e commerce Giants. Next CEO. We've got packing co founder and president Melissa Burdick, who joins me on the phone. Melissa Ah, long time former Amazon employees worked there for many years. If somebody has been covering the company for a very long time, they certainly came as a surprise. We knew it would happen. Eventually But now curious for your take. There's a signal when Jeff will be announced he was retiring that he wouldn't be the pick That was about a year ago. So kind of knew this was coming that there be a successor and Andy Jesse is Yes. He's been with the Amazon since 1997 the inception of AWS, you lead that you know, arguably Amazon's most profitable and successful business units. I think it leaves Jeff basis able to concentrate on building rockets and the things that he wants to do with someone at the helm that he can really trust and you know, can really tackle the big problems that and opportunities that a man has done has headed for them like health care, like, you know, just a delivery. They just got a lot of great innit inventions and innovations to do so I think, And he just He will be a great leader here. More interviews like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile APP or check your local cable listings. Markets headlines and breaking news 24 hours a day at Bloomberg dot com. The Bloomberg business APP and and Bloomberg Quick Take. This is a Bloomberg business Flash. And I'm Karyn Moscow that rarely and global stock markets extending into a third day is Cos. From Amazon to Vodafone posted strong results in the retail trading frenzy subsides S and P futures 15 points down Futures up 33 Now stay. Futures of 88. The decks in Germany's up 7/10 percent 10 Year Treasury Down 5 30 seconds. You have 1.11% of the yield on the two year 20.11% Nynex crude oil is up 6/10 percent, or 32, cents, and 55 08 a barrel Comex gold is up 2/10 percent, or $3.40 at 18 36 80 announced. Euro 1.20 to 3 against the dollar. British found 1.3641 and the yen 105.5 AMC Entertainment is.
China Congratulates Biden on Presidential Victory
"China's foreign ministry has congratulated president elect joe biden and vice president elect kamala harris. Npr's emily chang reports from beijing. This comes nearly a week. After the election was called china's foreign ministry said today the closely followed the election and extended. Its congratulations to biden and harris. It couched that. Congratulations however by saying that. It did so with the understanding that the final outcome would be confirmed by american law and procedure a reference to the fact that president. Donald trump has not conceded. The race still absent as a personal message of congratulations from chinese leader. Xi jinping by contrast during the last presidential election. She sent congratulations note. Within hours of trump being declared president elect analysts say china is hesitant to endorse the biden victory because trump still remains in office for the next two months and could further sanctions chinese officials and companies if angered
China's Economy Bounces Back As Pandemic Is Brought Under Control
"China announced today that its economy grew four point nine percent. In the latest quarter, it may be the only major economy to expand this year having recovered from the pandemic while the rest of the world deals with continued lockdowns. NPR's emily. Chang has been looking into what China's economic recovery means for the rest of the world. On a recent October afternoon, I visit Novas assembly lines in southern showdown province, various machine presses, and quality control machines clack away kind of sounds like a nine inch nails song that's Jen Ambrose one of the engineers from Nova which makes rare earth magnets the sort that go into the sensors for your car or help operate your iphone Senova like the rest of China is back to work construction manufacturing and automobiles are all booming and that's good business for the Nova which mostly sells to North American car plants. Here's vice president share your. Show for your meal your woman from town consumer demand is down because of the uncertainty about whether there might be a second wave, our clients in North America I've been stocking up on our components back in February of yet got production going in the middle of China's. He negotiate with dozens of villages let workers at of lockdown and come back to work. The pressure keeps applying as multinational clients was huge. It was like a war. Our director told us in critical times. If you cannot hold up your end, I'll just find someone else to replace you. Extensive. Testing and contact tracing have restarted China's economy despite smaller ensuing outbreaks and so economists estimate China's year GDP growth could be north of two and a half percent this year even as the rest of the world economy will shrink by at least four percent. That differential will give Chinese companies market share in greater economic. Influence. Global Steel production dropped. So China share production can only rise. Estimate, this year China will be at sixty percent of global steel production. This is leasing trump the president of estate industry group. A in June and July. Only China was buying steel because our automobile and construction sectors quickly recovered and because China's economy has recovered earlier and faster than that of others including the US economy, its trade surplus, this year will widen even more. Michael. Hurston China lead at consultancy Eurasia Group says that will exacerbate long-running accusations. China benefits more from the global economic order. The fact that China is back up and running smoothly, and in fact, some evidence suggests that China's actually grabbing market share in export industries will be a cause of concern for us. Policymaker isn't particular last year a trade war in a difficult operating environment. Let some American businesses in China to consider moving some of their supply chains out but this year the American Chamber of Commerce in. Shanghai's Lee. Survey found more than seventy eight percent of respondents has no plans to move operations. What you're seeing now is basically China's stability premium kicking back in in the sense that companies now are dealing with global pandemic and many of the places that they would move production to aren't looking. So rosy right now that China's economic recovery does have its weaknesses. Here's Hallway Economics analyst at Beijing Research from Gavitt Kalganov. Six overall is still investment dramatic story and we'll we'll have seen was lagging behind is mainly. Especially for the working people related consumption meaning, there's been growth because China is building bigger factories and warehouses and making more cars. The consumer demand has been weaker and unlike many countries including the US China has not given cash payments to its lowest income wage earners, many of whom have not been able to find work after the pandemic, and that could further throw supply and demand out of synch because the equality will widen again and we'll way down the consumption growth but for now, China is doing. All right. The question is how long can keep it up. Only thing NPR news jobs young China
Trump said he plans to ban TikTok in the US
"President trump says he will ban the popular short video platform Tiktok from operating in the US over concerns that the Chinese owned APP may be passing out data from American users NPR's Emily Chang. Reports the news comes scrutiny over Chinese companies increases in the US only hours before trump told reporters on air force one that he was banning tiktok several news reports said Microsoft wasn't advanced talks to acquire TIKTOK. Chinese tech giant bite. Dan's owns Tiktok that Chinese ownership has raised concerns. The opposite passing user information to China's Communist Party by dance has strongly denied the allegations saying tech talks, US operations are separate from those. In China last year, the Treasury Department opened an investigation against Tiktok over national security concerns, and in recent months by Dan's had been seeking potential US buyers for Tiktok as pressure for it to divest grew. Emily saying NPR news
Jeff Bezos will testify about how Amazon is the quintessential American company
"Largest tech companies are due to appear before Ah House Judiciary subcommittee on Anna trusted to answer questions about whether they have become and a competitive and won't return. Now to Emily Chang. She is anchor of Bloomberg Tech. We were rudely interrupted before I'm delighted you could be back with us, Emily So let's talk about this. We're talking about the four cos they're all big. They're all tech, but they're actually quite different company. One from the other. How can there be a through line from this investigation on these four different companies? Absolutely, And that's a very good point, David, Each of these CEOs of each of these four companies could have their own multi day hearing. The issues are very different with Facebook. It's misinformation and advertising with Google is advertising and search, which, with Apple, it is The APP store with Amazon. It is how these companies treat third party sellers. Jeff Bezos is somebody that we're really going to be watching here, the CEO of Amazon and also the richest person in the world because he's never testified before Congress before, and there are a lot of people who want to hear what he has to say in his prepared remarks, which were also a little bit different. From the rest. He talked about how his parents invested in Amazon in the early days. A typical and true American success story. He's also the owner of The Washington Post says that that could bring out a little more idolatry from the lawmakers. We don't know, but it's definitely going to be interesting to see how these lawmakers throughout their questions because they could basically ask anyone Anything at any time. So there's a chance that this could be all over the map, especially given that this is a virtual hearing. You're gonna have some of the lawmakers in the room. The hearing has been delayed because they're basically cleaning up from the last hearing. You've got staffers inside now washing it down. But all of the CEOs will be calling in virtually So
Tech's four biggest companies are going on trial
"Important tech hearings up on Capitol Hill, where the CEOs the four largest tech companies are due to appear before Ah House Judiciary subcommittee on Anna trusted to answer questions about whether they have become and a competitive and won't return. Now to Emily Chang. She is anchor of Bloomberg Tech. We were rudely interrupted before I'm delighted you could be back with us, Emily So let's talk about this. We're talking about the four cos they're all big. They're all tech, but they're actually quite different company. One from the other. How can there be a through line from this investigation on these four different companies? Absolutely, And that's a very good point, David, Each of these CEOs of each of these four companies could have their own multi day hearing. The issues are very different with Facebook. It's misinformation and advertising with Google is advertising and search, which, with Apple, it is The APP store with Amazon. It is how these companies treat third party sellers. Jeff Bezos is somebody that we're really going to be watching here, the CEO of Amazon and also the richest person in the world because he's never testified before Congress before, and there are a lot of people who want to hear what he has to say in his prepared remarks, which were also a little bit different. From the rest. He talked about how his parents invested in Amazon in the early days. A typical and true American success story. He's also the owner of The Washington Post says that that could bring out a little more idolatry from the lawmakers. We don't know, but it's definitely going to be interesting to see how these lawmakers throughout their questions because they could basically ask anyone Anything at any time. So there's a chance that this could be all over the map, especially given that this is a virtual hearing. You're gonna have some of the lawmakers in the room. The hearing has been delayed because they're basically cleaning up from the last hearing. You've got staffers inside now washing it down. But all of the CEOs will be calling in virtually So your comments suggest there is another person not in the room who may be quite important that is Donald J. Trump the president, United States He's not been shy in his criticism of some of these tech companies at all. What is the potential influence of the president here? Absolutely. And David we actually just in the last half hour, So got another tweet from the president focused on Big tech, the president tweeting. If Congress doesn't bring fairness to Big Tech, which they should have done years ago, I will do it myself with executive orders in Washington. It has been all talk and no action for years and the people of our country are sick. And tired of it. Of course, the president tweets themselves have been the subject of much controversy, especially how Facebook in particular has handled his tweets. The one about looters and shooters threatening violence on the American people threatening violence on protesters in Washington, D. C. Facebook has made the decision to let those posts stand unflagging not behind. A warning of any kind, and that has kicked off. Ah lot of controversy. Facebook is in the middle of an ad boycott. Right now, you've got massive advertisers who have pulled their advertising from Facebook for the month of July and some for the foreseeable future. So you can expect Facebook to be the subject and Mark Zuckerberg in particular, probably of the most iron from these lawmakers. Lots of concern. About anti conservative bias on the right and also concerns from Democrats as well. You've seen Vice President Joe Biden, the Democratic presidential candidate, also taking aim at Facebook, and in fact, President Trump has already used his executive powers to sign an executive order asking The FCC to take a look at old laws that give companies like Facebook and Google and Twitter protection from liability over the content that those users users post so we could expect that to be a really hot button issue today. Well, it's a fascinating point. This is Washington where the rules as we both know are different, but this is the antitrust subcommittee, the House Judiciary Committee. Theoretically, they're supposed to do with competition issues. Not the substance of speech. And yet I wonder whether it would be a fair amount of questions that have nothing to do with that. I trust her competition at all it has to do with political bias. Absolutely. And look, I've talked to all of the company's going into this. They're expecting questions to be all over the map. It is not all going to fall under the antitrust umbrella, and we know that at some of these lawmakers, we're gonna have sort of personal bones to pick with these companies whether or not one of their posts personally was flagged. Or not, And it's been interesting hearing from the critics as well. You've got CEOs of other big tech companies like the CEO of Spotify, the CEO of Epic games and maker of Fortnight. I've spoken to these folks in the last couple of weeks in the last couple of months, and they've been speaking out about thes companies saying that Apple, for example. Is American, Apple and Google are a duopoly. You've heard a lot of criticism going into this about how these companies run their businesses, and that's what these lawmakers have been hearing now on. The other side of these four companies have massive lobbying operations that they've turned over. One source told me voluminous amounts of documents, millions and millions of pages. Stating their case stating their side to make sure that these lawmakers are informed and we should hope that these lawmakers are going into this with with some level of the right information you know in the past. When Mark Zuckerberg, for example, testified before Congress for the first time, some lawmakers didn't understand how Facebook's business model actually worked. So we'll be watching to see whether or not these lawmakers actually understand the businesses and the points That they want to make. It was a famous exchange. How do you make your money If you don't charge for, he said, Well, we sell advertising Senator. That was quite an exchange. Emily. Thank you so very much Want to treat you have you with us? That's Bloomberg technology anchor Emily Chang, and we're going to bring you the hearing when it finally gets underway on Capitol Hill. Meanwhile,
Hong Kong lawmakers challenge mask ban as protests persist
"Of masked antigovernment protesters are out out in Hong Kong today in defiance of a ban on masks impose yesterday after days of violent unrest. NPR's Emily Fang is in Hong Kong on Saturday good afternoon. Hundreds of mass protestors marched the city's central business district and they chanted a new slogan. We have the right to wear a face mask. Major banks malls in the city's entire metro system cruised falling violent rampages by mass protestors Friday night they were infuriated by Honglin leader carries aries lamb decision to invoke emergency powers for the first time in more than fifty years to ban the use of face masks. The measure is aimed at quelling protests that have stretched into their fourth month a much bigger march against police violence is planned for Sunday. Emily Chang and pure news Hongkong.
Slack stock surges at debut, values company at more than $25 billion
"Well slack technologies, of course, making its debut as a publicly held company, and that was at the new York Stock Exchange stock. We heard from Charlie up about forty eight percent here in its first day of trading or Emily Chang, on Bloomberg television, cut up with the CEO of slack, Stewart Butterfield. And they talked about the business, bringing in more cash than me, put out on a non going basis is a priority because it allows us to control their own destiny. The ideal for us, though is that we continually find new ways the new opportunities to invest to further the business that we don't need a lot of free cash flow. But just a little bit. All right. Well investors seem pretty excited about what they heard from slack. Let's understand what they're seeing in this business a little bit about how they got to market, as they say, Mendy, sing senior tech industry analysts for Bloomberg intelligence. He's back in our Bloomberg interactive brokers studio. Mandy, you're our expert on these things. What did we see today once slack was really out in the public a one thing is fairly obvious that there is a lot of investor in two zero around, you know, cloud subscription businesses, especially on that deprives side, because the revenue stream is so predictable these in case oh slack. It's growing top line at over fifty percent. So there is demand for P. I think the concern for single product companies, you know, on the cloud is how sustainable that top line growth is. And you know once you hit a billion dollars. I think you're going to see growth taper down. So, but investors aren't focus. Passing on
Stopping Key Tech Exports To China Could Backfire, Researchers And Firms Say
"Support for this podcast and the following message. Come from Google from Connecticut to California from Mississippi to Minnesota. Millions of businesses are using Google tools to grow online. Learn how Google is supporting businesses in your state at Google dot com slash economic impact. One of the most raw parts of the US rivalry with China involves the way that China has obtained US technology and this year, the United States will likely at new restrictions on the export of certain technologies a move that is mostly aimed at China. It is meant to help American companies. But it turns out it could also limit the ability of American firms to compete. Here's NPR's, Emily FANG. The cybersecurity from knack Affi known Fritz antivirus software is constantly monitoring the internet searching for the next big threat. The company's chief technology officer, Steve Grossman explains we actually have a billion sensors deployed around the world that allows us to. See new threats track where they go. Now McAfee is one thousand of American technology companies at the frontlines of a global tech rivalry between the US and China. Grossman says the Trump administration's plans to update export controls, which would restrict US companies from exporting sensitive technologies could give the bad guys the upper hand, they're going to use the best technology that they can get their hands on in order to create the most militias capabilities that would potentially impact our customers. Those controls are the most Embiid measures thus far aimed shutting down Chinese hackers and companies stealing technology to get ahead. That theft is a key sticking point and ongoing trade talks between Beijing and Washington. Resolve nearly one year trade war in November the administration sought comment on possible new expert controls for emerging and foundational technologies. Technologies cord cutting edge applications that concerns researchers such as JoAnne camman's. It just slows down science in general for all the people doing good and important discovery. Research Commons is executive director of ABC, gene. A biomedical nonprofit that supports research by sharing material like chromosomal DNA worldwide. She warns export controls could hurt. This kind of cooperation cutting the US off from global research community that would open the door to China to race ahead. DNA is a linear sequence of letters. Once. The letters are known anyone in the world could four money and time make any one of these things the new proposed controls could even restrict to universities and companies hire Aaron NS senior vice president of the US China business council explains how companies might have to be licensed to pass knowledge of technology to a foreign citizen. Not only is the product that they make covered by an export control. But the employees ease that they have would be covered by them as well. That's worrying for many tech companies such as those writing code and working on artificial intelligence Agena, JoAnne Kaman. German stresses that modern research almost always crosses international boundaries basic research, which is given rise, of course, to so many important discoveries that have driven all of the cures in the clinic. You know, all of that work is done collaboratively with scientists between countries instead cyber security analysts like new America's Sam sacks advocate, a small yard, high fence approach restricting the sale of specific technologies with military applications, but leaving everything else accessible because tools like export controls. These kinds of things were meant to be used as scalpels but not as blunt instruments sometime this summer. The US Commerce Department will release a second proposed export controls list. Four foundational technologies. American tech companies who submitted comments hope the Commerce Department will narrow down. What is restricted so far? They haven't heard back. Emily chang. NPR news.
Intel stock drops 7% on revenue miss
"Global economic growth amid possible impact of quote, geopolitical dynamics in San Francisco, I'm Emily Chang. Bloomberg daybreak. Thank you. I'm Emily other stocks on the move this morning PG and E shares down about five percent. That's after soaring. Seventy five percent yesterday. When California cleared the utility of responsibility for the state's wine country, fire of two thousand seventeen moody says it still expects PG the file for bankruptcy in a few days. Shares have Starbucks are up more than three percent after earnings beat estimates. Bloomberg's Charlie Pellett reports. Starbucks managed to put its recent sales slump behind it beating estimates in the key Americas and Asia Pacific regions compr-. Sales that key metric for retailers rose four percent in the Americas. Same store sales in China. Gained one percent the world's biggest coffeeshop company has been under scrutiny after turning in slower sales growth last year. Charlie pellett. Bloomberg daybreak Charlie. Thank you. The pound is heading for its best week in a year following reports the Northern Irish political party, that's propping up Theresa May's government has privately agreed to back her Brexit deal. German business sentiment fell to its weakest level. In almost three years in January has trade uncertainties and weaker growth in China amplify, concerns. Over the economic outlook. Man, Bloomberg news has learned a Chinese delegation, including deputy ministers will arrive in Washington on Monday to prepare for high level trade talks led by vice premier Lou. And s and p futures are up twenty one points this morning. Dow futures have one hundred eighty two NASDAQ futures up seventy we check the markets every fifteen minutes throughout the trading day on Bloomberg. Dax in Germany's up one point six percent. Ten year treasury down to thirty seconds yield two point seven two percent. Yield on the two year two point five seven percent. And NYMEX crude oil is up less than a tenth of a percent straight ahead. We have the latest world and national news. And this is Bloomberg. Karen, thanks. It is six thirty three on Wall Street. This news update brought to you by national realty NRA, developers of high return income producing properties for investor partners.
"emily chang" Discussed on Bloomberg Radio New York
"A global news update. I'm in San Francisco and Emily Chang. And this is Bloomberg technology coming up in the next hour. Tesla shares stumbled the carmaker announces it's cutting back on production of the model X and model s vehicles profitability once again come under pressure for the company. Plus Uber makes a splash at the World Economic Forum in Davos, giving new details about it self driving car unit were you the highlights of our conversation with Dr Okasha Schalke and China is set to become the world's biggest retail market this year, mainly thanks to growth in online spending. And we explore why ecommerce remains strong in the region. The first to our top story. Tesla shares have plummeted after the electric car maker announced. It's reduced the number of hours, it's producing model. Three sedans and model X crossovers. The move has added to concerns about demand for the Tesla's higher priced and more profitable vehicles. Tesla has also gotten rid of the option for customers to order the vehicles equipped with entry level batteries. Joining us now with Moore's Bloomberg's Dan a whole who covers the company and broke this news, Dan breakdown for us. What exactly this means? And what you've been hearing from your sources sure so workers at the tesla factory last week. We're very concerned that layoffs were in the works because they had heard that production of model. Asset ex was going to be cut back. And then last Friday Musk's sent an Email saying that he was laying off seven percent of the workforce significance here is this is the first time that the layoffs are actually hitting production workers, not just salaried like sales HR marketing people, but people who actually work in the factory. So now, we're hearing that s an ex production has been cut back. We don't know exactly how much it's not. That's surprising because they did drop the lower price model and now all effort is on the model three. I mean, he's all of this a sign that the challenges of scaling up selling at high prices, delivering large margins is all of this coming to a head. It seems to be I mean, the model S and have been out for quite a while model s I went into production in two thousand twelve so it's a seven year old car. Most people who want a model s have one already and this just the demand for those those cars may not be as strong as it used to be in the price difference between the lowest price model S three. It was not as why? So that's why they dropped to seventy five kilowatt version, right? In addition to the production caused sales the pricing cut. So it seems that demand is coming to a ceiling perhaps. Yeah. We'll find out more intestinal reports. Earnings next week is so how many model S is an Xs do they plan to make this year? Is it still a hundred thousand are they gonna cut that back? We haven't gotten a lot of forward looking guidance for the year, and my said back in October that Europe and China might offset some of the slow down in the US. But now, we're. Seeing this economic slowdown in China a weak retail sales. Is this going to hurt that prediction? He had. Yeah. I mean, China has always been a wildcard for tesla because of the tariffs and a trade war and the protests is a strong brand. But now where everyone is concerned about the Chinese auto market slowing down and his tesla going to be able to swim through that. Or not a hell of how fascinating get this gigafactory up and running right? We saw apple really get hurt by China revenue forecast is their sense and tesla that some of the growing nationalism in China. In addition to the economic slowdown could hurt these numbers. It could. I mean, I don't think we have a clear indication yet. I mean, tesla got a very warm reception. When it went to Shanghai for this gigafactory groundbreaking, and so the sense is that there are actually racing to build this factory. So that they could start producing their right? How does that factor? Figuring into all of this. I mean, you have job cuts here. Production slowdown, and then you have this huge five billion dollar plan in Shanghai. We have a lot of details as to how that plant is being financed. The rumor was that. It's largely through local Chinese debt. But we don't know the terms we don't know which banks are involved, and then they have they have to build that plant in order to avoid the tariff issue, which would be the car is really cost prohibited in China. So we've had some recent very negative annals reports on tesla. Tesla keeps getting beat shares. Keep on falling after each round of news. I mean, what's making investors? Most skittish right now. I think for a long time. The tesla narrative was that is a growth company, it's a high growth company, they they spend a lot, but they're growing growing growing because there's this off the hook demand for their products. Now, the demand question is really caused. It is really up for grabs. Because this is the first time that tesla has actually pulled back on production. And when we talk about production how much of that layoff is actually increasing efficiency at tesla. And how much of it is. We just can't sell enough of these cars. Well, that's that's a really good question. We don't have details from the state of California yet as which which positions were cut, but certainly production hours and production go hand in hand on the one hand. But if he become incredibly efficient, you don't need as much labor, but you also don't need as much labor. You're not making this many cars. So when you talk to sources who are still at the company what is morale like, it's pretty bad. I mean in June, Yvonne, musk laid off nine percent saying that it was a hard decision, but he had to do it. So that he would never have to do it again seven months later, he's laying off another seven percent. And a lot of these people are folks who sort of you know, they made it through the first round of layoffs at June thinking that they were safe. They turned down other job opportunities. This came as a real surprise to people and in that announcement on the job cuts, you want my said is going to be a very difficult road ahead. What are some of the turning points? We're expecting to see in twenty nine thousand nine for this company. They really need to get this thirty five thousand dollar car, which they've been promising since March two thousand sixteen out the door, and until that car is out there going to be in real trouble. Because basically, that's what people have been waiting for for years, and they've sort of already sold the higher price version to everyone in the US that they can all right, Dan ahold. Great job, breaking this news will be back to you for more. Now, Hulu is responding to net. Flicks is price hike by lowering the cost of a subscription the on demand. Video service has cut the price of his entry level as supportive product by twenty five percent to just six dollars a month. Remember just last week net. Flicks. Raise the cost of its most popular plan to thirteen dollars a month. Coming up. Top tech leaders are gathering.
"emily chang" Discussed on Bloomberg Radio New York
"To get that was Emily Chang with grabbed taxi founder who linked tan. Meanwhile, Uber self driving cars are hitting the road again, nine months after the death of a pedestrian in Arizona. Uber has resumed its Thomas vehicle testing to Pittsburgh. Bloomberg's Brad stone spoke with CEO, Dr costs Akashi in may following the incident. I think for us it it really brought home. This idea that safety has to come first. And as it relates to that that tragedy we have grounded are autonomous fleet. And that was a decision that we made any sense for one you'll start driving again. It'll be within the next few months. I don't know. The time. We'll be right. When the time is right because we are doing top to bottom safety review, both internally and with independent folks coming in to take a look at our culture, practices, etc. So that when we get back on the road. We all know as a team that we're getting back on the road and safe away as possible and responsible with as possible, and it just kind of it's just one more way that it hits home how important safety is. And how important it is for us to engage with our regulatory partners and the various aeronautics players, etc. Who have played this game. And I've worked in a safe from pharma for a very very long time and established long track record of success here. We we've gotta learn here. Can you tell us anything about the status of the NTSB investigation? It's ongoing we have been working hand in hand with them. And we've been giving them all the data that they need. We will not be tweeting ahead of. Of their findings..
"emily chang" Discussed on Bloomberg Radio New York
"This is Bloomberg technology. I'm Emily Chang. In San Francisco seat bomber is notorious for his enthusiastic speeches as the former CEO of Microsoft now, he is bringing his passion for tech to the basketball court as the owner of the clippers bomber is unveiling clippers court vision, and augmented reality platform that puts fans in charge of their viewing experience court vision developed alongside videotheque company second spectrum uses a mix of machine learning. A and augmented reality to let viewers customized play predict player moves and estimate. Probabilities fans can toggle between coach player and mascot modes for different diagrams and camera angles. I sat down with bomber to discuss take a listen. Day in and day out the technology industry, like every other industry has a key role in society, and some of it is all positive and goodness and innovation and some of those things come with the downside, and as the downsides get revealed, whether it was security issues and software number of years ago privacy election manipulation. I don't think that the spirit of excellent innovation will be anything other than lauded and yet the tech industry has to also take these bonds and bruises and serious requests for society to do better. So I wouldn't call it a once in a lifetime. But there will be excitement about tech. And there will be. Issues over which tech needs to show responsibility. I know you're super pumped about this here. You're you're pitching this as a revolutionary way to watch clippers games. And that this puts are the viewing experience in the hands of the viewer. How does it work? Well, what we've done essentially with our partners at second spectrum, very cool technology company here in L A is applied. Artificial intelligence to watch study the game, and then draw in real time automatically what's going on. So you wanna watch as a player would watch and see the probability that your teammates will be successful for shod. If you want to see real time diagramming of plays, we provide you that if you want various camera angles, you can get it that if you if you want live common commentating, you can computer generated highlights that are available at near real time the ability right from within either the website or within the applications to tweet things out we provide all of that. That's in beta the thing that is broadly available today, which is very exciting for people here in the Los Angeles market is a set of. Augmented streams to do much of the things that I talked about which are available now on the Fox Sports app and people can watch the game that way tonight. So this is about courting the viewers tomorrow in the NBA skews younger who are you trying to attract with this? Well, I think we're really trying to do is take the fans I the fans who are already excited about the game and give them away to get into the game even deeper. In every business. I think one of the first things you have to do is feed your feed your enthusiasts and particularly since NBA fans tend to skew younger, we think we'll see great uptake by today's fan base. We also building out interesting things to draw in people who know less about the game. And because this is a essentially software service will continue to feed new new products, new ideas into this thing with great regularity. So given that you are collecting all of this additional data is this something that could also help the team win games. Yeah. This is actually built a set of technology that came out I in an analytics product there are six cameras in the ceiling of the NBA arena. The software that we're talking about starts by looking at the floor seeing every player knowing where the ball's moving the speed. And then there's a layer of so-called machine learning software that can tell you exactly that was this kind of pick and roll it success rate likelihood to lead to a shot. A made shot is X. It's being defended in this way. All of the core technology, then feeds a set of tools that the teams do use to improve the way they gain plan product eagle the clippers were one of the first users of that product again from from this company second spectrum here in LA where does it go from here? For example, how could legalized sports betting be integrated into this platform? Well, we have a platform in which you can show additional data real time in the game and in which you can interact. I think that makes it a great platform in which to support legalized sports betting sports gaming when when that comes on board. You may wanna see fantasy points. You may wanna see probabilities at certain things happening. There's a lot of things that might be legalized on which people can gamble. We can show those to you live on the screen and with interactivity there's the possibility for online gaming partners to work with us dog met the experience in that way. It's going to be an interesting season. You've got LeBron going to the Lakers. How're the clippers going to up their game with that on the other home.
No Major Upgrades for Latest iPhone Out in the Fall
"You'll Fever. Podcast This is. Bloomberg technology I'm Emily Chang in San Francisco about two, years ago Samsung rolled out its. Highly anticipated note. Seven device what was planned as its crowning achievement and greatest shot to take on. Chief rival apple became a disappointing turning point for. The company there was a design flaw that caused devices to spontaneously combust leading to recalls and apologies that cut into profits companies hoping it's unpacked event this Thursday. In Brooklyn New York is the start of, new, chapter however unveiling the galaxy. Note nine that starts
BP pays $10.5 billion for BHP assets to beef up U.S. business
"Six zero one on Wall Street we check the markets every fifteen minutes throughout the trading day on Bloomberg s. And p futures they're up about two points now Dow futures up thirteen NASDAQ futures up twenty five Dax in Germany's up four tenths, percent can Paris up two tenths percent Footsie-100 up six, tenths percent Nikkei two twenty five in Japan gained six tenths percent the Hang Seng in Hong Kong up about. A tenth of a percent ten year treasury up to thirty seconds yield two point nine six percent yield. On the two year two point. Six seven percent NYMEX crude oil down three tenths percent or twenty one cents to sixty. Nine forty one a barrel COMEX gold down six tenths percent or seven, dollars eighty, cents at. Twelve twenty. Seven fifty an. Ounce John we. Begin with earnings from Amazon the company shares are four percent in. Early trading after profit that more than doubled projections Emily Chang has more, from our Bloomberg nine sixty newsroom in San Francisco, Amazon, earnings NIST Alice Estimates on revenue and the revenue forecast but massively on earnings in part driven. By cloud growth and growth. The company talked up the prime program as always and said that it's whole. Foods that's really. Driving a lot of new prime memberships also talked about having the biggest prime day ever despite that big technical glitch. Bloomberg is also reporting that the Pentagon is very close to issuing this winner-take-all contract for its cloud business and that that really favors, Amazon Emily Chang Bloomberg San Francisco Emily thank you here's, of Intel plunged after its earnings report the stock sound five percent in early trading after signs at chipmakers growth. May slow that's despite second quarter results that topped estimates an entree Novon covers Intel for Bloomberg intelligence across. The board this is a good. Quarter now you have the preface that from an expectation standpoint AMD printed an MD just. Do, the cover off the ball so on a relative basis maybe expectations, that are, mismanaged, by Remember that Intel has ninety eight point. Five percent share for example in the data center, market in AMD has one point five so we named the more. Room to grow Emily Intel stock falls this morning shares of AMD are up about three percent we have a couple of energy deals. To tell you about BP has agreed to pay ten and a half billion. Dollars for most of HP Billiton's onshore US oil and natural gas assets the acquisition as VP's biggest since, one thousand nine hundred nine and includes land, and the prize, Permian, basin the. World's fastest growing major oil region at the, same time Chesapeake energy as the greatest sell its Utica shale assets in Ohio too. Closely held Encino acquisition partners Chesapeake will use. Nearly all proceeds from the two billion dollar deal to pay. Down debt that has shares. Up fourteen percent in early trading the two biggest oil, companies in the US report earnings today Bloomberg's Jeff Bellinger reports. Exxon Mobil Chevron will post, their second quarter results Bloomberg intelligence Says ExxonMobil's positive free cash flow will more than. Cover its dividends but the company will hold onto its cash. Rather than, buy back shares it may be too early for Chevron to. Restart by backs but executives may offer some guidance, on the timing. And size of the program analysts think Exxon will post. A profit of a dollar twenty seven a share on revenue topping seventy one and the third billion dollars chevrons profit is projected to come in at two dollars and eight cents a share. On revenue of nearly forty six billion dollars Jeff Bellinger Bloomberg daybreak Jeff thank you it's a big day, for USA conomic data with the first reading on second quarter, GDP due out at eight thirty Wall Street time I kinda messed forecast growth will come in above. Four percent Bloomberg's Vinny Del Jude is reports it's been almost four years since US economic growth top four percent with rapid growth be sustainable, economists had their dads about the rest of the year Bloomberg. Economics CS a variety, of special. Factors at work in the second quarter. Data additional The. Impact of White House trade policy, could derail growth in the months ahead in the, first quarter GDP slow to two percent pace one more thing that surge. Growth back in two thousand fourteen it was a five point, two percent gain any chewed ice Bloomberg daybreak thanks for let's head over to Asia. With the Bank of Japan's today offered to buy, an unlimited, amount of bonds for a, second time. This week the central Bank is looking to table rise it yields let's come amid speculation it could adjust its alter loose monetary policy move from the b. o.. J. a series, of. Stimulus steps. From China this week and earnings they were all in focus during today's trading session in Asia Bloomberg's Juliet Sally as details from our. Singapore bureau Japanese equities climbed for fourth day shrugging off a. Decline in the mirror holdings following. A prophet slide intensifying speculation about tweaks to the, Bank of Japan's stimulus program so, a ten, year yields briefly trade about point one of a percent. Against the j. target of around zero but they slipped in after noon trade is. This Central Bank unleashed another unlimited. Bond purchase offering stock index is in China and Hong Kong. Tick Loa the off show, you on bouncing off its weakest level in. More than. A year in Singapore I'm Juliet Solly Bloomberg daybreak Juliette thank you on the trade front US Trade Representative Robert lighthizer says a. Tentative NAFTA. Deal could be reached as soon as next. Month that, would be the deadline. Favored by Mexico but lighthizer, says there's still, hurdles to overcome and talks with Canada US relations with China meanwhile show no signs of improving. Lighthizer splaying down the prospect of a trade agreement with Beijing, at the, same time a top Chinese trade official. Railed against the US trade strategy calling it extortion and China is now expressing. Regret over Qualcomm, decision to scrap its takeover of semiconductors it's an apparent attempt to. Avoid blame at a Chinese regulators failed to rule on the deal more than twenty months after it was announced, s&p futures up a point basically. Is Bloomberg daybreak Six.
Bloomberg Spencer Soper, Chang Bloomberg San Francisco Emily and Bloomberg discussed on Bloomberg Daybreak
"An ounce the euro dollar seventeen Forty-three and the yen. Won twelve point three four Bob we begin with a new plot twist, from Netflix disappointing earnings the company stock is down twelve percent in early, trading, after it added far fewer subscribers and expected last quarter then only Chang reports from our. Bloomberg nine sixty newsroom in. San Francisco it was a huge miss for Netflix on new subscriber editions well below the street expectations and wobble. Below Netflix says own guidance the company adding. Just over five million. New subscribers in the quarter analysts had. Expected over six million lots of possible. Concerns here including that the company name not be making. New content fast enough including new seasons of shows that are already hits the. Big question is is it a blip is it just, a speed bump or is this part of a longer, term trend Emily. Chang Bloomberg San Francisco Emily thank you now the next. Big name. To report. Goldman Sachs the firm is among ten companies in the p. five hundred out with earnings today and. We get a review You from Bloomberg's Jeff Bellinger Bloomberg intelligence, says, the, global investment banks second quarter revenue growth may have outpaced that. Of its peers experts say Goldman had a relatively easier comparison than most and it's numbers were likely buoyed by, strong equities trading and US underwriting forecasts are for Goldman to post an. Adjusted profit of four dollars and sixty six cents a share. On, revenue of eight and three quarter billion, dollars Jeff, Bellinger Bloomberg. Daybreak thank you Jeff also today we could get that announcement that president David Sullivan will take over at the at the helm, of Goldman Sachs the firm's earnings release set for around seven thirty, this morning Wall Street time sales for Emma's prime. Day sword when the, event kicked off yesterday? Afternoon that's despite widespread technical glitches for many shoppers on the side Bloomberg Spencer Soper? As more, from our Seattle, bureau, shoppers were. Disappointed on Monday when they got to. The site, many of them had trouble using the search engine to find things checking out adding things to their cart shopping They went off pretty well the first hour they sold. Four times as many things as they did in. The first hour prime day last year. Spencer Soper for Bloomberg news and Seattle thank you Spencer and. The data we have so far covering the first few hours of this year's event shows shoppers spent fifty. Four percent more during this year's Amazon prime day feed visor says the glitches limited sales only in the first hour of the event we turn now to Capitol Hill where, Federal. Reserve chairman Jay. Powell testifies before..
The GDPR, Europe's New Privacy Law, and the Future of the Global Data Economy
"Protection for the investors who stand with them bam the feeling is mutual influential conversations from bloomberg television here's emily chang let's continue our discussion of our top story ups new general data protection regulation now in effect companies are subject to the most farreaching data privacy laws aimed at protecting people from losing control of their personal information facebook and google have already been hit with some nine billion dollars worth of lawsuits arguing the companies are not complying with gdp are my next guest has been on the front lines of implementing the new rules christina bella ibm data protection officer joins us so christina first of all these suits filed by australian privacy activist who says that what google and facebook have done to comply doesn't go far enough cable listings global news twenty four hours a day at bloomberg dot com.
"emily chang" Discussed on Bloomberg Radio New York
"This is bloomberg technology i'm emily chang in san francisco it has been a volatile year so far for big tax just look at the performance of the typical textile works like facebook amazon and alphabet so far this year my next guest says that silicon valley is not as attractive and opportunity given the volume and overvaluation of investments already instead is looking at long term investments that can weather that kind of volatility he's the head of kkr's tnt growth equity portfolio includes companies like lift magic leap fan duel and more david walsh here with me in the studio thanks so much for joining us not silicon valley i think it's a little less about why not silicon valley there's certainly tons of great tech companies being formed here and there i think we'll be for a long time i think it says we've looked at it there's just a lot of companies and other areas in both the us and abroad are they're starting to produce really great technology companies to and to your point some of the valuations here particularly in silicon valley have really gone up a lot recently so we've been spending a lot of time on planes getting into no those other geographies and the businesses that are there and learning that there's some really great entrepreneurs and people that are looking to build as you said longterm businesses that can sustain through multiple cycles and that's one of the things that we really look for businesses so we're we're really specifically do you see potential so what kind of trends are you investing in i mean you're not doing early stage doing pre ipo companies what are you looking or it's not an incredibly long time successes intelligence.
Alibaba's Tsai Says Trade War With China Could 'Kill a Lot of Jobs in America'
"June grasso as investors worry over potential u s china trade war alibaba co founder and vice chairman joseph cy says any such conflict would result in a lose lose situation he spoke with bloomberg's emily chang at the milken global conference a trade war looming jack ma this would kill jobs opportunity well very much like what jackson this will actually fill a lot of jobs in america there's a trade war because the titfortat trade tactics really will cause a retaliation and in fact in china they have just put on terrorists on soybeans it's going to hurt american farmers and i think that we're in the context where there's we're seeing a huge marketing china and it's kind of ironic that the us administration is putting on a trade war right now because there are a lot of consumers in china three hundred million president xi jinping last year novels said over the next five years china's going to import eight trillion dollars worth of goods because of betray war they put the gates down because of retaliation this is going to hurt everybody and it's going to close off a lot of opportunities for producers in the united states alibaba and jack plan to create a million times in the united states by jack warrant that may not happen if a trade war moves ahead.
Jobs Report: Four Rate Hikes Now on the Table, Markets Suggest
"Wall street time strength in the employment and wage figures could fuel expectation the fed will hike rates for times but atlanta fed president brumfield pasta says he isn't concerned about slightly overshooting the two percent inflation target the trend is going in the right direction and i think we're gonna hit two percent sometime in the next quarter or two i'm actually very comfortable going above the two percent to some amount two point two two point three i don't think that's a that's a crisis of overheating necessarily atlanta fed bridget in buffalo bauch spoke exclusively to bloomberg a voting member of the fomc this year and a former jp mortgage as executive abundance being sounded out to replace deutchebanks ceo john cryan is according to people familiar with the talks recruiters contacted matt zane about the position saves is a former hedge fund trader who helped clean up j p morgan's london whale trading debacle facebook chief operating officer sheryl sandberg is speaking out about the data privacy crisis saying some advertisers have tails spending she also says her team has a long way to go to reassure customers san spoke with bloomberg's emily chang everyone wants to know the same thing which is argue protecting people's data i think the advertisers.
"emily chang" Discussed on GeekWire - Geared Up
"Set across the table from dinner that was michael moore i don't know if he'll ever come back on my show say he's not i have talked with many people at a quiet and you know i do believe that there are people there who care i'm looking to see more action but you know i don't think he necessarily speaks for all of them at the end of the book you outlined some concrete steps very basic things that the tech industry could do to at least start to turn this around let's get into that after the break we're talking with emily chang she is the author of bro topa and the host and executive producer of bloomberg technology we'll be right back on geekwire this podcast is sponsored in part by connects seattle's iconic new high rise apartment tower ideally located where south lake union becomes downtown seattle connects us perhaps the most architecture stunning addition to seattle skyline it features to full floors of amenities including its signature rooftop pool and offers forty unique floor plans to choose spoon learn more about these one of kind of parts now leasing at connects tower dot com that's k i n e c t s tower dot com welcome back to geekwire we are speaking this week with emily chang the host of bloomberg technology and the author of bro topa breaking up the boys club of silicon valley emily toward the end of your book you offer some concrete steps you call them the bare minimum of what we can do at an individual and systemic level to start to break up this bro topiary that's out there give us give us your thumbnail sketch of what can be done first of all treat one another with respect and dignity i think that's a given and we should be doing that all the time every day and unfortunately the bare minimum and this is the bare minimum hasn't been getting done in silicon valley i do think change needs to come from the top and ceo's need to be explicit about this as a as a focus and priority and to communicate that throughout different levels of the organization and also to talk about why we are doing this you know someone like james more may have seen diversity initiatives at google and not understood.
"emily chang" Discussed on GeekWire - Geared Up
"And you know a strong team for the good of the business this is not just about equality because i think he quality is important this is about building an unassailable business let's talk a little bit about something that gets kind of tied up in that recruiting and hiring effort a lot the meritocracy what is the meritocracy in your mind and why do you say in the book that it is amiss silicon valley fancy sit self as a place where as i say utopia where anyone can succeed if they deserve it and the best and brightest will indeed rise rise to the top and in reality america crecy or perfect meritocracy is impossible to achieve because at no stage of the game is anyone on a level playing field we all come to the table with our own sets of privileges and the escalators moving far faster for some than it is for others and unfortunately the myth of the meritocracy and if you believe you truly are operating america crecy it can actual make you behave more anti meritocratic lee because he was soom people are in the positions that they are in because they deserve it or that they were harder everything's working when in fact it completely belies all of the privilege at play you know that leads people to be in those seats and so you know i do think this idea of meritocracy has been completely misleading and if women are getting two percent of funding you can't possibly call that america crecy as we've been discussing obviously you're a journalist today and you earn author in this scenario how has the process of writing this book changed your approach to covering the tech industry daytoday you know it's interesting you mentioned james damore and you know i want to stress that i came into this process as a journalist and my goal is to report the truth but i also knew that it wouldn't be worth writing a book at all if i didn't write what i really believed and ultimately i do take strong.
"emily chang" Discussed on GeekWire - Geared Up
"Oh absolutely and i could have written for years the problem is that they're all about the same you know the numbers are all about the same they have their own particular cultural nuances but i certainly had to pick and choose where i was going to dive deep in google was one of those places but i you know i certainly could have written similar things about microsoft and amazon and and you know obviously what's interesting about microsoft is it's been around such a long time and one of the interesting things that i learned when i walked into his i sort of expected that startups would be worse than big companies but what i found in in in talking to people is that it really depends on your manager so if you have a good manager you can have an amazing experience no matter how bigger company is if you have a horrible manager you can have an awful experience whether your company is bigger small so you know this is something that obviously all companies need to look at but interestingly being in seattle i'm speaking at microsoft and speaking at amazon and i'm very heartened that they are bringing me in and that they're willing to have this this conversation which is the first step i mean i think we need to create safe spaces for people to talk about these things and in our twitter happy world it can be hard to have a conversation like that but you know i think we all need to listen i'm open to listening when people disagree with my ideas but i do think talking about it is you know nothing's going to change if we don't talk about it and obviously we need to make sure that talk is followed by a lot of action.
"emily chang" Discussed on GeekWire - Geared Up
"Chris apparently was not and part of it is because it is just so male dominated there are no checks and balances imagine six men around a dinner table if you walk in one woman you know the conversation changes slightly if it's halfandhalf it's completely different conversation than it would be if it was all men and so i think we really need more women at the table at these companies for organic cultural change to happen i do think there is a lot of ignorance and it's not always malicious but at this point i mean i've written three hundred pages about it ignorance can only be willful like we know there is a problem now we need to talk about how we fix it also includes some examples that are counter examples where companies have done well by including women from the beginning and we're gonna talk about that when we come back our guest this week is emily chang she is the author of bro topa many of you know her as the host of bloomberg technology and we'll be right back with more on geekwire welcome back to geekwire from ecuador common seattle i'm todd bishop grain we're talking this week with emily chang she is the host and executive producer of bloomberg technology and the author of bro topi breaking up the boys club of silicon valley emily you talk a lot about silicon valley in the book it's interesting i've followed microsoft over the years from our perch up here in seattle and a lot of the cultural things just sort of subtle cultural things that you talked about man they were very typical of microsoft especially in the bill gates era you know gates would arrive in check the parking garage to see whose car was first in line you know amazon obviously has a culture of its own you didn't really address you know the the seattle tech giant's do you see some characteristics at those companies that you also see the silicon valley company.
"emily chang" Discussed on GeekWire - Geared Up
"On campus they're set up for young single people right out of college and they absolutely skew male but it they've put enough thought in that you can take your dog to work i think they can put some more thought into how they build a place that is good for parents and i know childcare is hard but it is done in other industries and why not let's let's talk about that because i think it could change the game for a lot of people in parents and companies and i think you get some there something that really is integral to a lot of the things in the book that you go into and that's the way that work and home life are blended in ways that one might not expect so business happens at parties on the weekends and you meet important people at social events and you know work goes beyond the boundaries of your office and the nine to five how has that impacted everything absolutely i mean i do think in silicon valley work lives social lives are blended more than ever and so you know you might leave the office and go to a bar and work discussion continues and you know maybe if your mom or if your dad you don't want to go to that you know bar after work you wanna go home and see your family you know i talk a lot about what is happening inside the office but you're right that so much business is getting done at the bar or in the hotel lobby or in the sidelines on the sidelines of a conference or at a party of various kinds and in many of these situations women can be put in uncomfortable positions but it's almost the the exclusion that matters more it's kind of like the modern day golf course you know you know sometimes women are being even being invited and so you know i do think there are a lot of ways in silicon valley that that simply the way the the behavior that has been not just tolerated but normalized ish outing women out.
"emily chang" Discussed on GeekWire - Geared Up
"Used was that software and development was suited the women in part because they were good at party planning you know how do you square these things and not perpetuate stereotypes well it was grace hopper who said that women are naturals at planning a party and good programmers in do good planning and planning is very important part of actually what programming is you know i think that's a really good point my argument isn't that women alone should be building these products my argument is that people of all backgrounds should be building these products men and women do bring different things to the table so do people of different colors and different sexualities silicon valley is literally changing our lives every day but often i think we take the people who are making the things that facebook and google and apple for granted we just don't which is it's it's even more reason why the people who are making these products should be of all different kinds of backgrounds because billions of people are using them so it's not just a work issue which i it is you know silicon valley the culture needs to be a better place to work but this isn't just the tech industries problem this is everyone's problem to that end and getting a slightly different demographic than just women who are in the workplace you point out that companies have all of these perks they have you know apple's new campus has yoga classes and and things like that but companies rarely offer daycare at their offices and that really can be tough for parents woman as well as men how much of what we're talking about today with respect to specifically woman also applies to parents in general so much i mean i know plenty of men who work in tech who are dads and feel like they're old and you know the expectations of them to attend social events or drink after work are just not appropriate or not not something that they can live up to as as a working dad these campuses which are amazing in so many ways i mean you can get a massage get a haircut you can go to the dentist.
"emily chang" Discussed on GeekWire - Geared Up
"In the tech industry that men are just inherently better at technology and about developing technology but it was clear from the data from the research that that is just not the case if you go back to the early days especially on the software side women were prominent and then you saw this decline in computer science and roll ment after some of these external factors like some of the researchers you were saying in terms of identifying the people who are good at it you interviewed james damore from google as journalists on bloomberg tv and when i remember watching that at the time i mean you played that straight you ask them questions and then the beginning your book just destroys his argument how do you square those two things and how are these two roles shape checking out for you as journalists over the course of my career i've been so trained to be objective and not bring my opinion into the situation and you know that is i think that's still very important that object tippety you know to to tell the truth i mean we're we're telling stories and you know were we aim to tell the truth which aims to more i wanted to give him a chance to say what he had to say and afterwards as i was digging deeper and looking at the analysis and looking at the the papers that he cited and talking to a lot of people who worked at google the argument just didn't hold water and i do believe that his opinion not not most people who who believe that aren't gonna to a memo right at a memo to the entire company but i believe that his opinion is more widely held by people especially men in the tech industry than than we would like to believe and that's why we need to shine a light on it and sort of shaped people and tell them that this is not we need people who do like people making these products we need people who have empathy because they're solving problems for users that they need to understand talking about the the characteristics in some of the common characteristics among men and women how do you do this without creating more stereotypes because you're talking about one of the now.
"emily chang" Discussed on GeekWire - Geared Up
"So what is the birthplace of some of the most innovative companies in the world but these days it's also become infamous for something else bloomberg technology host emily chang calls that something bro topi a culture that has built giants like google and facebook but has made the tech industry toxic and even dangerous for women and other minorities from geekwire dot com and seattle i'm todd bishop and emily chang is with us in the geekwire studio today thank you so much for having me i love seattle any chance to come to seattle it's great to have you here and i know you've been visiting some of the tech companies locally i want to ask you about that later but both claire and i have read the book and really got a lot out of it in fact i don't want to give you your next blurb but i think this should be required reading for everybody in the tech industry really opened my eyes to a a lot of things both subtle and clear and it was just a an important book to read but i want to ask you first what is bro topa how do you define it broke hope in my mind perfectly encapsulates this idea of silicon valley as a modern topi where anyone can change the world make their own rules if they're a man but if you're a woman it's incomparably harder and i mean it shows in the numbers and i feel like we should just get these out there women account for twenty five percent of jobs across the industry seven percent of venture investors and women led companies get just two percent of funding in no world is that a utopia and you know i know that it's a strong phrase and and it really makes a statement and initially when we started talking about the title on this word came up i felt like maybe it was taking it too far but just like you i was surprised as i was doing my research over and over again and i believe it perfectly captures the fact that is just not eleven playing field so you start the book by talking about some of the stereotypes that have led to.
"emily chang" Discussed on Bloomberg Radio New York
"I'm emily chang and this is bloomberg technology coming up stocks recover from last week's market rout tech stocks surge in monday's session we will break down the biggest movers plus facebook under federal investigation is trying to weather the storm can mark zuckerberg keep both advertisers and lawmakers and happy uber agrees to sell its operations in southeast asia to local rival crap we'll discuss what uber in return and the goebel plans for the world's biggest starter i to our lead us stocks surged back from its weekly route in two years with major benchmarks climbing more than two percent on science an escalation of trade tensions was beginning to ease shares of microsoft jumped one and seven percent its best one day gain since october two thousand fifteen other big tech firms like amazon and apple also pulling ahead for more i want to get straight to our bloomberg news reporter abigail doolittle in new york so abigail walk us through the comeback while the bulls were certainly out today what a day for the major averages and stocks a big rebound rally from two weeks of intense selling pressure especially last friday and we had some especially bearish action but today the buyers were out buying the dip and encouraging perhaps at least for the near term demeter averages the nasdaq opened up about five or excuse me up about two percent fell back from that a little bit positive all day but then steadily climbed from late morning and steadily climbing in the last half hour of trading some investors and strategists say that the real buying and selling happens in the first thirty minutes of trading in the last thirty minutes of trading so at that time the bulls were really out supporting the major actors in the nasdaq one hundred outperforming up three point eight percent all the major averages having as you mentioned their best day since august of twenty fifteen and it was all about tech tech was up four percent on the day so real some by the dip action here from investors led in part by microsoft as you mentioned microsoft up more than seven percent on the day morgan stanley had some very bullish comments outraging their price targets we.
"emily chang" Discussed on Bloomberg Radio New York
"Regional index is on track for its best weekly gain since july last year still building onto those record highs we've seen the nikkei hold onto yesterday's very impressive three point three percent gain and continue should build on it up by eighttenths of 1 percent so fresh january 1992 highs and also have seen a little bit of fluctuation coming through in the hong kong market but if we have a look at what the hang seng is doing it is still holding on to those gains up by about a tenth of one percent so if we see the hang seng closed in positive territory that will actually be nine consecutive sessions of gains if we have a look at what is moving in terms of stocks have a look at ching temporary up seven percent in hong kong session it has been as high as twenty three percent amid report of be pricehikes we hearing around five percent that jay front retail though polling in the jeff sessions down by about four percent and its trading volumes have doubled will live from london at the top of the alpha bloomberg daybreak europe this is bloomberg yeah this is bloomberg technology emily chang three autonomous car pioneers are taking their former bigname employers headon with a new start up that could shake up the car industry cruiser send the longtime director of googles car project sterling anderson the former head of tesla's autopilot andrew bagnall a founding member of words advanced technology center have all come together to form a startup called aurora the company will develop selfdriving electric.
"emily chang" Discussed on KBNP AM 1410
"For the ones who get it doc influential conversations from bloomberg television here's emily chang of course microsoft shining yeah we were talking earlier this shell facebook call before congress paid for by russia have you been looking at microsoft the weather the same thing on any of microsoft's platform we are bucking we're looking now we badlooking the last few days we haven't found anything yet i think we need to think about one is what happened in 2016 how can we learn from it doesn't matter whether your twitter facebook or anybody else the more we learn the better we be the question i believe we need to really focus on as a tech sector in a country is that what happened in 2016 how do we prepare for 2018 there will be a presidential race here in the united states from 2020 let's assume that people are unfortunately going to get more sophisticated and trying to of these social media forms they're going to get more sophisticated in these cyber attacks on political cannibus how do we get better as a tech sector how do we work more closely with the government how do we ask the governments of the world of the democratic countries of the world to use their waste together to say this is an attack on democracy needs to stop hear more interviews like this one on bloomberg television streaming live on bloombergcom and on the bloomberg mobile app or check your local cable listings twenty dot com.