35 Burst results for "Jason Kelly"
The Dow gains 293 points Wednesday, reclaiming the 29,000 level
"The virus first, Let's get to Charlie Pellet update on trade. Hey, Charlie. Well, hello there, Jason Kelly and happy Wednesday to you. Both. The Federal Reserve says the U. S economy showed signs of progress, but Continue to struggle amid the ongoing Corona virus pandemic and it's beige Book report Police 31 minutes ago. The feds said quote economic activity increased among most districts, but gains were generally modest and activity remain well below levels prior to the cova 19 pandemic. Equities are higher is the nearly relentless rally in risk assets continues supported by dovish comments from policymakers, the S and P 500 index is up. 39 points up 1.1%. Downs of 292 up 1% NASDAQ Holding Above 24,017 up, 77 points up by about 7/10 of 1%. 10 Year up 6 30 seconds. The yield 300.64% gold is down 1.5% now to 1940 ounce West Texas Intermediate crude is tumbling 3.1% of barrel of our
"jason kelly" Discussed on Bloomberg Radio New York
"So many of the big energy names moving to the upside WTI better by twenty six percent in the extended session here at twenty five fifty five indications were from president trump earlier that he would basically withhold from getting involved in the dispute between Saudi Arabia and Iran this oil price stand off at this point then may get involved at an appropriate time eighteen T. shares of moving to the downside right now the stock is off of more than five and a half percent we're told that the company is this in discussion with a number of banks for a new term loan of roughly three billion dollars many of the companies like eighteen TI have been struggling to get to their short term financing needs taken care of because of other markets seizure in that what is known as the commercial paper market this is one of the reasons that the fed was addressing the problem earlier in the week Dow industrial average right now better by one point two percent S. and P. five hundred higher by one point three percent nasdaq composite climbing by about three point seven percent some of the big cap tech names moving higher today I'm speaking about their names like Tesla and Netflix and Facebook all pushing to the upside in the bond market today long term interest rates coming down ten year treasury right now he's at a yield of one point two percent terms of some of the eco data that we had and this may not come as a big surprise first time jobless claims the big jump last week claims now at a level of two hundred eighty one thousand as the economy just begins to show signs of a weakening under the effects of the corona epidemic and a regional gain of a manufacturing from the Philly fed suffering its largest ever drop for the month of March now where the dollar is concerned we're seeing a a rally against the majors looking at the Bloomberg dollar spot index higher by about one and a half percent got a weaker yen here down about two point three percent at one ten sixty five and the euro coming in by more than two point two percent against the box at a dollar six seventy five so there you have it you are caught up on markets I'm a Christian you're listening to Bloomberg business week with Carol Massar and Jason Kelly on Bloomberg radio do a little bit of business week economics we get the team assembled Kathleen Hays global economics and policy.
"jason kelly" Discussed on Bloomberg Radio New York
"This is Bloomberg business week with Carol Vassar and Jason Kelly from Bloomberg radio what's going to happen twenty one when it comes to venture capital investor because I feel like we were it's filled IPO interest governance issues and really impacts the conversation around start ups private markets and that includes of course venture capital let's talk about the V. C. world David spring is with us he's founder and CEO at runaway growth based in San Francisco in a Bloomberg interactive Roker studio here in New York nice to see you again you too great to be here so tell us I do wonder about the lasting impact of we work on the VC world has it changed things dramatically yeah it has changed things I'm not sure how long that's going to last but it has definitely shifted from you know growth at any cost too late path to profitability you know that's a that's a big thing but I do think that you know V. sees really build companies so that they can be exited so they're building a company so that it will please the buyers and whether the buyers are institutions buying out an IPO which is very very rare by the way that gets all the attention from the media but the on average is only like eighty IPOs a year for the last five years so it's nothing but then on the enemy side there are bought by corporate buyers or more more Pete firms rather buyers and they do not want to pick up a big burn so you know you really need that path to profitability thing I think is you know is is here to stay but there will be a growth at a at a measured or intelligent you know spend yeah David wouldn't thing that adventure travel is said to me in the wake of we work was this notion that it has changed and made much more sophisticated may be much more intense conversations between the seas and entrepreneurs run governance aid that essentially there now able to walk in and say no you don't want to do that you don't want an independent or you don't do this the one end up being we work you know that it's become real almost weapon I his to to some extent this conversation have you seen that have you seen more talk about governance at this point so first of all big governance extremes that we saw and we work you know and they are present in a few other read the high profile deals that you know we all know about those are not the norm yeah in Silicon Valley so and it never has been you know it's only the you know the the hottest of hot companies with the most aggressive CEOs that even ask for those things so and you know really where I operate is in the you know the on some heroes right the on one of the things that I want to talk to you guys about is like this imbalance in the world of venture capital where there's so few exits we talked about IPOs there's only eighty there's less than a thousand emanate exits and twenty five hundred new companies come into the system every year so we're building up this giant mass and now it's up to about twenty five thousand companies that are you know venture backed they're not exiting and in a lot of cases they're out living the ability of their venture firms to support them and if you're dealing with how to fund those companies that for lack of a better word good might not great that's what we're all about and to get your point Jason those people have never asked for these crazy interest it crazy governance you know abnormal request so among those you said was about twenty five thousand companies did you say twenty five thousand venture backed companies in existence today how many of them will ultimately exist and five to ten years from now because I do feel like in the sea world certainly in the early start up world whether into investing with a lot of money at things that never come to fruition so I do wonder of those twenty five thousand that might be struggling to get capital that I love capitalism maybe some of them shouldn't be able to exist going forward I mean that's the system working correct definitely so this you know law of nature and survival of the fittest and all of that it definitely works I'm more talking about people that deserve to survive and are not getting the attention because the venture capital business is so geared towards hitting home runs nineteen home runs grand slam even with all that money that's less you rent a sin I conserve conversation about with its private equity money whether it's family wealth offices whether it's you know institutional money there's so much money that's looking to go in that area you're saying it's not it's not they always want to get into the unicorns the other people that you guys talk about that's where they want to invest and there is a ton of money trying to fight their way into those deals but not the guys that are doing or twenty or thirty or forty million that deserve to survive but they're never going to be an IPO how do you solve that imbalance well I think we're gonna have a new class called distressed venture where people will raise venture funds to come in and capitalize on the opportunity to build these companies and take advantage of the weakness of OR inability of existing investors to continue to support those companies that and then people like us they do venture debt where we lend money as an alternative for supplement equity week we can help those companies it does seem like we're in for some sort of reckoning is probably too strong a word but across the entire private capital spectrum totally agree and that's David spring the CEO of runaway growth your listening to Bloomberg this week coming.
"jason kelly" Discussed on Bloomberg Radio New York
"Is Bloomberg businessweek with Carol master and Jason Kelly from Bloomberg radio at the start of the king of something we talked about earlier health care and what may be underneath some of the start up that we're seeing on the scene of innocently you is here with us she's vice president at SAT and the head of SAP's start up accelerator he may know it as as a P. dot I she's here with this urban burger interactive brokers studio a native New Yorker native New York City I believe as well so tell us what is going on out there you guys hosted an event with some stars that are in the healthcare space for the scene out there yeah that's right so we just had a demo day where we profile seven companies we've been working with these are health care start ups that are late seed to series see that we chose and the field of over a hundred and fifty companies and they're all in the space of health care being able to work with healthcare providers to change the innovation that they're doing and also working with corporate some employee health and wellness why health care and I'm curious is the knowledge meant that this is one of the industries that has yet to really be disrupted if you look at everything else that's going on and this is an opportunity essentially for S. A. P. to maybe have some significant say in that destruction that's exactly right that's exactly why we did this this is an industry that is right for destruction there are so many unfortunately inefficiencies right now especially in the U. S. market so that means that especially you ask versus other develop markets are other markets that have single payer structures for instance where then that becomes much more of governments control type of industry and so over here because there's a lot of fragmentation that means that there are many different pockets where analytics are being done if you think about how electronic medical records really first started it was because there had to be systems in place to track what people were doing but because there's so many disparate players in it it's now so all over the place and that's why this whole entire idea of trying to create some type of centralized repository for data is really interesting so half of the start of that we were working with over the last twelve weeks have been focused on that using a high machine learning thinking about ways where you can really just I identify the unstructured text in finding the insights from that so we've been talking a lot lately when we've been talking to folks in the entrepreneurial in the venture can unities specifically about diversity or lack there of in the founder class in the investor class as well you have a lot of power in that world in your selections and essentially you're championing there what do you feel like you guys are doing and and how do you make a meaningful difference in that part of the equation and having candidly a much more sort of diverse set of founders it we have a commitment where forty percent of the founders we either find or weak celebrate through our accelerators have to be founders that are under represented here in New York our programs are a hundred percent focused on that the reason why we're doing this is because when you're saying we're going to make technology better technology for whom how are you going to be making that technology better exactly and being stewards of technology we think that we have a critical role to play to say these are the types of companies were going to work with start ups come in so many different forms right so many different types of innovations are happening a lot of the times what we're finding is that under represented founders just haven't been provided the access to the right networks to surface what they're doing is not because they don't have the great idea because they do see that forty percent forty percent globally what is fifty percent when when I wanna make it fifty percent I think it's just kind of interesting because I think you know the research that's been out there you know the more diverse and I'm not just talking men and women but the more diverse you have a group of people whether it's creating companies are discussing certain problems that are out there that you're more likely to have a smarter solution that's right smarter solution it's going to alter the viral and more viable it'll just grow that much faster better cultures what is it the health care that you think is very interesting and innovative that's happening right now is it just about kind of getting the data to make sense and and organize it or is there something else that's happening that that would that would be like wow I I don't know that was going on so one of the things that we focus on the other half of the covert were actually corporates that are not going to be every day thing to health care but they haven't portent role to play if you think about the fortune five hundred companies out there the number of employees that they employ what can you do if you can tap into what they do with employees so if you think about mental health and wellness you think about how one in four people nowadays are battling some type of mental health condition but yet if you look in the workplace about sixty percent of people don't talk about it they don't even talk about the fact that they are struggling with same thing employers can have a very critical role to play because there is there with them and so that is a shift that we see is not just about providers it's not just about payers but it's also the role that companies can play we think that that's a really really big innovation really big area that is what we're going to see a lot happening there in the next few years and that's Vanessa Lee you vice president S. A. P. dot hi hello you're listening to Bloomberg businessweek coming up the CEO of Ducati North.
"jason kelly" Discussed on Bloomberg Radio New York
"Jason Kelly from Bloomberg radio at the start of the king of something we talked about earlier health care and what may be underneath some of the start up that we're seeing on the scene of innocently you is here with us she's vice president at SAT and the head of SAP's start up accelerator he may know it as as a P. dot I she's here with us Bloomberg interactive brokers studio a native New Yorker native New York City I believe as well so tell us what is going on out there you guys posted an event with some stars that are in the health care space we seen out there yeah that's right so we just had a demo day where we profiled seven companies we've been working with these are health care start ups that are late seed to series see that we chose I'm a field of over a hundred and fifty companies and they're all in the space of healthcare being able to work with health care providers to change the innovation that they're doing and also working with corporate some employee health and wellness why health care and I'm curious is the knowledge meant that this is one of the industries that has yet to really be disrupted if you look at everything else that's going on and this is an opportunity essentially for S. A. P. to maybe have some significant say in that destruction that's exactly right that's exactly why we did this this is an industry that is right for destruction there are so many unfortunately inefficiencies right now especially in the U. S. market so that means that especially you ask verses other develop markets are markets that have single payer structures for instance where then that becomes much more of governments control type of industry and so over here because there's a lot of fragmentation that means that there are many different pockets where analytics are being done if you think about how electronic medical records really first started it was because there had to be systems in place to track what people were doing but because there are so many disparate players in it it's now so all over the place and that's why this whole entire idea of trying to create some type of centralized repository for data is really interesting so half of the start of that we were working with over the last twelve weeks have been focused on that using a high machine learning thinking about ways where you can really just I identify the unstructured text in finding the insights from so we've been talking a lot lately when we've been talking to folks in the entrepreneurial in the venture can eighties specifically about diversity or lack there of in the founder class in the investor class as well you have a lot of power in that world in your selections and it sent to your championing there what do you feel like you guys are doing and and how do you make a meaningful difference in that part of the equation and having candidly a much more sort of diverse set of founders it we have a commitment where forty percent of the founders we either find or weak celebrate through our accelerators have to be founders that are under represented here in New York our programs are a hundred percent focused on that the reason why we're doing this is because when you're saying we're going to make technology better technology for whom how are you going to be making that technology better exactly and being stewards of technology we think that we have a critical role to play to say these are the types of companies were going to work with started to come in so many different forms right so many different types of innovations are happening a lot of the times what we're finding is that under represented founders just haven't been provided the access to the right networks to surface what they're doing is not because they don't have the great idea because they do see that forty percent forty percent globally what is fifty percent what I feel when I wanna make it fifty percent I think it's just kind of interesting because I think you know the research that's been out there you know the more diverse and I'm not just talking men and women but the more diverse you have a group of people whether it's creating companies are discussing certain problems that are out there that you're more likely to have a smarter solution that's right for murder solution it's going to alter the viral and more viable it'll just grow that much faster better cultures what is it the health care that you think is very interesting and innovative that's happening right now is it just about kind of getting the data to make sense and and organize it or is there something else that's happening that that that would be like wow I I don't know that was going on so one of the things that we focus on the other half of the covert were actually corporates that are not going to be every day link to health care but they haven't portent role to play if you think about the fortune five hundred companies out there the number of employees that they employ what can you do if you can tap into what they do with employees so if you think about mental health and wellness you think about how one in four people nowadays are battling some type of mental health condition but yet if you look in the workplace about sixty percent of people don't talk about it they don't even talk about the fact that they are struggling with something employers can have a very critical role to play because there is there with them and so that is a shift that we see is not just about providers it's not just about payers but it's also the bold that companies can play we think that that's a really really big innovation really big area that is what we're going to see a lot happening there in the next few years and that's Vanessa Lee you vice president S. A. P. dot hi you're listening to Bloomberg businessweek coming up the CEO of Ducati.
"jason kelly" Discussed on Bloomberg Radio New York
"With Jason Kelly S. and P. five hundred yeah ballistic folks four hundred fourteen games in the S. and P. five hundred higher today eighty five lower we are awaiting some earnings from box I do want to mention five below it's about a six point six billion dollar market cap company on a retailer specialty value retailer stock is up about almost sixteen percent so far this year but we are seeing the stock take a bit of a hit here in the after hours is down more than eight percent it is out with its latest earnings asset Corey PS fifty one cents a share that's a penny better but talking about the outlook in saying the fiscal year EPS three point three dollars eight cents to three nineteen that's a bit lower than its earlier forecast of three eleven to three eighteen yes to me on the street is three sixteen it's talking about this clear com sales still love about three percent so it's still seeing that and they're creepy as fourteen to seventeen cents that's well below so it's raining it's forecast and as a result you know in the stock well this year is taking a beating here in the after hours as beaver earnings and earnings driven that stock gains one point out Tiffany gaining on better than feared second quarter I guess you take what you can get and some positive momentum in China apparently Tiffany shares that were up as much as four point seven percent the ticker symbol is F. T. I. F. closing it right at three percent of about two dollars and fifty cents you know that's one where people worry about weaker tourism related and currency geo politics because they do rely very much on that so the global traveler yeah and if that starts to fall off they really could see it right and you see it move around a lot he knew tonics is also out with earnings after the closing bell this is a company that plays in the computer hardware and storage space it's down fifty three percent so far this year but it's getting a pop here in the after hours up more than a seven eight percent moving around a little bit fourth quarter just have lost fifty seven cents that's better than what wallstreet was forecasting which was for a loss of sixty five cents fourth quarter revenue coming in us stronger as well almost three hundred million dollars to ninety three point one million was the estimate first could adjusted gross margin so looking ahead eighty percent that's better than the forecasts that's out there of a seventy seven point five percent first quarter just a loss of about seventy five cents a share that looks a little bit larger but none the less investors right now kicking that share up the after hours all right I'm gonna bring you the numbers from box stages so cross second quarter revenue coming in at one seventy two point five million the estimate had been for one sixty nine point six of that to be a still seeing fiscal year adjusted EPS break even at two two cents the estimate was for two cents the EPS this quarter in the second quarter was break even they had estimated analysts had a loss per share of one and a half cents stacks up about one and a half percent here in the after hours stock down eighteen percent so far this year but none the less I getting a little bit of a higher trade here in the after hours do we talk about it Autodesk NO I we didn't David mentioned it earlier but I did want to mention it because it is your worst performer in the S. and P. analysts really saying the bear case is growing and their trading down mostly on the outlook as you can see yeah exactly all right does prudence stance is what the company said it was taking on trade and other uncertainties well investors are taking prudent stance and they're selling this to ha because the get away for some more optimistic news perhaps at another time from the company let's talk about the volatility index either fix it is down about five point two percent here at the close no surprises we sell stocks a rally on two days that trade and the X. ending at nineteen point twenty six this is Bloomberg radio hi my name is Dave yes.
Fed holds rates steady, but opens the door for a rate cut in the future
"The Federal Reserve indicated a readiness to cut interest rates for the first time in more than a decade to sustain a near record US economic expansion, citing uncertainties in their outlook while chairman, Jerome Powell and fellow policymakers left their key rate in the range up two and a quarter percent to two and a half. They dropped a reference in their statement to being patient on barring costs and forecast. A larger miss of their two percent, inflation target this year, so June. For more insight, Bloomberg's Carol Massar and Jason Kelly spoke with Petri spa of Hamco, and IRA jersey. The chief interest rate strategist for Bloomberg intelligence. Let's get to you. Tell me what dump sad at you. What you think is really notable in this latest fed decision, and there was a like mixed thinking going into it in terms of investors the street and now we see in the feds got of mixed thinking, so I think firstly the fed did not disappoint. So the. The market was certainly pricing for the fed to be dovish, and they were I think, just appropriately dovish, I think there was the big risk and a lot of people were thinking that maybe they would take back some optionality and not be as dovish as the market thought, but I think between the dot plot and what they said in the statement, they kind of just met the market's expectations, not a whole lot more, and you do see a little bit of a market reaction because the thing is if the feds little dovish now they could get more. Dovish later so push pests qualley from pimco big takeaway for you. The fed is keeping its options open, if not, it's not going to cut until it sees something bad, because it's trying to save bullet. That's you know, for me if they go number one and number two, if that chairman Powell is very much aware that all I on him where every word every north one just going to dissect it and to extent that he is coming across more hawkish, and painted market sentiment could turn pretty quickly and put your one of the things I wonder is the sort of geopolitical backdrop here, you know, we're heading into a week. We ten days where present United States is going to be a soccer Japan meeting with his counterpart from China, president Xi. Those trade winds certainly are playing through this economy right now. How do you balance that out? If you're an investor what we heard from the fed today, and what we're hearing from a geo economic perspective, investors, look at potential trade war, and, you know, and on the other side of the fed standing by to support the economy. All the good news seems to have been priced in meaning that the market is under subpoena cups by your end that seems to be. Conclusion market is also anticipating that trade war with China is going to be averted same with Mexico yesterday. We saw that after the tweet from the president the market, but he strongly all of these good news have been priced in. But the question is, if the meeting for whatever reason does not go well, or we wake up to tweet that is hostile to China, that does issues are real and they haven't been priced in. So my sense stat investors are still very often, but it's best to consider caution going forward, especially where pricing in the market. I mean I do think about and, and, you know, I think about g twenty right? It's not this weekend next weekend. I do wonder if we get some resolution on some of these as folks around this table have have have termed policy gaps. Right. If we get some resolution between China and the United States. How that think how might that impact the fed? Thinking what it means for interest. I think that's one of the ironies here is that a lot of the angst and a lot of the certainly the market worry and market. Fear is really predicated on things that are, you know, quote unquote, manmade. Right. So these are actually policy decisions at someone can make. So if there is a kind of blanket resolution with all of the different trading that have been going on with the White House and other countries. All of a sudden, you can see not only risk assets do okay, but also quite frankly, the bond market selloff pretty significantly so compared to where the economy is already very rich to fair value. At least where we as the make fair value to be, so you can wind up seeing a pretty big pullback here. And actually, the fed may be take back a little bit of its dovish nece, as well, assuming that these trade problems go with you agree with that. Yes. Especially the last point, where between policy and removal of trade war with the moving in different direction. Meaning that should we receive bad news. News. You know, on trade fed will step in, but should we receive good news on trade? Meaning no-trade war, many people say, oh, that's going to be hugely positive, but consider that if we receive good news on the trade war front that the fed actually has room now to step back and said, we don't need to cut rates because, you know, the economy has been removed or reduced poetry Smalley of Pam, co an IRA jersey. The chief interest rates strategist for Bloomberg
"jason kelly" Discussed on Bloomberg Radio New York
"Carol massar. Jason Kelly to fifteen names in the S and P five hundred hired a day, two hundred eighty six lower four unchanged one that caught my attention. We've been talking about it kind of all day, here then has to do with chewy. That was our IP. Oh. And you saw that stock really shoot up closing up about fifty eight percent above Thursday's IPO price. It would give this company, the second best debut of the past ten years among US IPO that raised at least a billion dollars really. The latest it a string of strong starts for American firms tapping public markets. Not all of them have been strong. But certainly this one two leading Twitter, which surged seventy three percent when it started trading back in November of twenty thirteen. Yeah. And that's great. It'll be interesting to see. These pops and we'll see how it goes. It's such a funky IPO market in many ways, we talked about the uncertainty in the IPO market. And then you know that leads to next week and we think about slack, and it's directly sting, and he sort of try and figure out what the game is here. I do have to say this whole pet area though. Man, people are spending big time on their cats. Right. And I think about when Joel Webber BusinessWeek sat down with the head of Mars, and one of their big businesses is a push into the pet space. And so, I think you know, owners would consider that, in many ways necessity to make sure their pets have, you know, certainly lots of things to eat and play with. And I remember, I remember looking at the latest results from James smucker, and that's their biggest their biggest revenue chunk as well. That is pretty exciting. Just have to listen to the conference calls, and look at the transcripts to get a sense of that. I was taking a look at the semiconductor space, the socks the Philly stock exchange at semiconductor index was down two point six percent. Really dragged down and Dave Wilson brought this up at the top of the show really dragged down by broadcom. We saw those results yesterday and investors clearly concerned about that a non Trine of us in job breaking that down with us. If you want to go back and listen to the show yesterday podcast, he gave you a good sense gave us a good sense of what was going on there hail cycle. But about Facebook your number one gainer in the S and P five hundred up two point two percent today. Climbing reports detailing the company's plans to launch digital currency due to be in veiled next week some of this coming out late this week. And they plan to roll out cryptocurrency strategy and June. Eighteenth Wall Street Journal put it out there that they signed up a number of major companies visa MasterCard pay pal and Uber to back the project and separately. You didn't have a Facebook. Spokeswoman confirming reports that you Bank lobbyist at bell bows. Bowls balls, excuse me. Joining the company, but in talk a little bit further about that. But you do wonder about the impact, he'll have in terms of public policy over in Europe, near the Europe specifically, but I will say my pal yesterday at Pershing, which talked about future proofing, your business and part of the conversation, we said, yet, these folks in these tablist financial community. They're watching bitcoin, especially watching blockchain, these are things that are certainly on their radar. All right. Let's get a quick. Check of the vix, volatility index down three and a half percent closing at fifteen point two six, this is Bloomberg..
"jason kelly" Discussed on Bloomberg Radio New York
"I'm Jason Kelly down in Washington at the Bloomberg government next twenty summit Taylor rigs back in New York keeping an eye on things. I can see the darkness behind you. Yeah. I know it is. It's Son Sen starting to go down at four thirty one pm here in New York. But really interesting, you know, coming up we're going to be taking a look at emerging market internet and e-commerce ETF. This is of course, coming off of the Alibaba singles day event that happens yesterday. All right. But before we get to that. Let's get back to Charlie Pellett wrap-up of the trading day. Charlie. Hello there Jason Kelly. We've got the Dow the s&p, lower, NASDAQ unchanged. We did hear from till Ray it reported stronger third quarter revenue but a wider net loss and a lower average selling price per gram as the cannabis producer prepared for legal sales in Canada. Goldman Sachs group. Shares down for a third day is analysts speculate on how long the pain will continue shares of Goldman Sachs down today by five tenths of one percent. You'll labs the maker of the cigarette that is wildly popular with American. Teen says it has stopped selling its fruit flavored nicotine pods to stores and shutting down its Facebook and Instagram accounts Bridgewater associates, adding E to its investments and exiting PGN in the third quarter. PGE shares down eight tenths of one percent. That's the California. Utility General Electric rallying today by seven point eight percent, stocks trading. Mix S and P five hundred index down four down about two tenths of one percent. Dow industrials lower by one hundred down four tenths of one percent. Nasdaq was unchanged. Big story today. Down seven point nine percent. Talking about west Texas intermediate crude fifty five nineteen OPEC's sees demand for its crude falling even faster than expected in two thousand nine. Have your blouse is Bloomberg chief energy correspondent in London. And he was interviewed the morning on Bloomberg television. Saudi Arabia betting that after the US the Alexi equal really again, tighten the market sent prices. Hi there. But if that was the case, they miscalculated drum doesn't really.
"jason kelly" Discussed on Bloomberg Radio New York
"And Jason Kelly from Bloomberg radio too, Carol. How do you get your arms around where the world is going especially in terms of economics and growth right Jason. And there's so many things to look at. And that's what we do this week in the magazine. It's this week's special new economy issue. And it's really a preview to Bloomberg's new economy forum, it's hosted in Singapore this coming week and participants from around the globe. They're going to figure out solutions to the issues facing the global economy in the coming year. So we turn to the architect of this issue. She's economics editor, Christina Lindblad. Here's what she had to say. This was so much fun. First interviews for the story is I talked to this academic in Canada. Who's actually putting together an atlas of new cities. And she said because we knew that we had heard about several she said there's one hundred that have tracked in my database. She said some will never see the light of day. They'll never get off the ground literally creation. Yes. So it's just like we call that. I I kept plague which has good aspects to they're definitely some negative ones. But you know, very ambitious. Push. You know, I think one of the people I talked to said, you know, a lot of this is happening happening in former colonial countries. Resonates. It's like they want a cities of they want to basically shape their future because they had a sort of kind of passive past. And so why is this happening? Now, everybody always want something new, and I feel like if we go back to the late ninety s it was all about the new economy. And yet this new economy feels a little different little more substantial and part of that reason is exactly what you described that city seemed to be acting with us, maybe a sense of urgency that they haven't before you touch on a lot of issues throughout the issue, whether it's climate whether it's sanitation. We'll talk a little bit about that as well. What's driving this server? So there's a number of factors. One of them is that many cities many capitals in particular are just literally busting at the scenes in terms of population. They some of them have geographic factors that have literally him the men others face climate issues. Water scarcity. And so these are the problems that are trying to address, and you know, we know in New York ready that fixing old cities can be really costly and sometimes seems futile. So starting new is very tempting so and then another factor that's driving. This is globalization and money that moves freely around the world because some of these projects even though they are being held by local governments. There are being financed by foreign countries and foreign companies so this mania for new cities. Okay. So this is what's going on Monte real? Let's get into his story a little bit because he takes a look at, you know, folks, kind of recreating cities planning new communities, and he goes around the world that well, he says that this is what everybody always wants to do kind of start from scratch.
U.S. judge orders Georgia to allow voting for some blocked residents
"Be allowed to vote in this election, if they show proof of their citizenship when they go to the polls the more than thirty million Americans have cast early ballots ahead of Tuesday's midterm election turnout is so high some states or even approaching their early turn out from the two thousand sixteen presidential election. Wall Street finished in the red today despite a rosy jobs report in October and a quarter million jobs added. I'm Evan Haning. This is Bloomberg BusinessWeek with Carol Massar and Jason Kelly
GE falls below $10 for first time since 2009 after analysts say dividend cut may not be enough
"Its first earnings under its newest CEO. Let's get into this with Jim corridor equity analyst over at CF are a research on the phone in New York City. He cut his twelve month price target in two thousand eighteen EPS estimates on GE also carrying Ubale heart is our senior industrials analysts at Bloomberg intelligence. She's here in our Bloomberg interactive brokers studio, Karen I want to start with you. We mentioned this stock tumbling to a two thousand nine low below ten dollars. And that's where it sits right now. Ninety six we expected there to be a lot Latin this quarter a lot of bad junk, if you will is it worse than we expected. Walk walk us through it. I think people wanted more. There's a first of all the investigation. Now, people are like how big is that black? All the additional DOJ investigation, adding the goodwill charge that black hole is what scared people for awhile. And now, it just got bigger, and they also said that they have to help fund put more money into GE capital. The DOJ has been looking into that twenty two billion dollar charge that she took in connection with its power you. Yes. Okay. And so sorry, Jim. I it's you take a look at this worse than you expected. I mean what what was the big surprise here? Because we knew that there were some things that obviously got Larry Culpepper predecessor fired. So what really caught people off guard. I think it's the combination of the announcement of the DOJ investigation coupled with the cutting of the dividend by almost ninety five percents wiping out the dividend investors that were in the stock for the dividend. Even though it was reduced from earlier this year already. We're exiting at one cent per share at the same time that investors that were holding on with hopes for restructuring are disheartened by DOJ an SEC investigations. So are we missing something? It's an eighty six billion dollar market cap company. That's expected to have one hundred and twenty billion dollars in revenues. I mean, Karen, it's not like there is value in General Electric in. I think it's it's the unknowns that are scaring people if I look at the aerospace business is an unbelievable business, and it blew this things away in this quarter healthcare is good. I mean, standalone the company certainly got a lot of value in it. But it's just how big are the charges. How much will they pay? I have a thought on the goodwill right off. There's a lot of flexibility on when you have to recognize a goodwill charge. Caterpillar? Four years losing seventy five percent of their revenues in their mining business. And we kept saying are you going to write it down? What are you gonna write it down? There was a clause in their ten. K that says basically as long as you think there is value there over the long term, you don't necessarily have to write it down. I don't know what GE will decide, but we were badgering them to do it. And guess what they were right? The businesses rebounding. It's up twenty five percent from the bottom. And it's not back where it was. So there's that's what I learned. Oh, there's a lot more flexibility in this. So I wouldn't think they're going to necessarily. Have to take an a bigger hit. So Jim what do they need to do? Now. What do you need to hear from call to give you confidence that he's got this ship closer to to write than before? Number one. We need to have these restructurings and he's right down. Stop. We can't have a twenty two billion dollars here. Fifteen billion dollars charge in January and have it keep going on. And on we need to have stability. So that we can have some faith for the future member to Mr. call past set some targets, which they are setting. Are they need to hit them execute on these targets? So you can't really even figure out how to value a stock. Like, gee, you have some kind of firm financial data you could trust that when they tell you a credit revenue or earnings guidance. But there's a good chance they might hit. And they've missed target after target. If the target had endless restructuring, so they need to put a stop to that and start hitting at executing again. Well, okay. But do you expect that Jim to start next quarter? I'm just curious if they haven't given the new guy kind of time to get settled in a seat and really figure out where all the problems are buried so that it can come out and say, hey, folks, here's here here. It all is are we need to be patient and could be expect maybe another couple of quarters where things. We're going to be you know, we're gonna have some surprises coming out. So yeah, I would argue for patients, but if you look at GE investors, angry they didn't give John Flannery six months to to to restructuring program before they start in the door. So you know, it's gonna take awhile to take six months to a year before you can get a ship. The size of a turnaround, but investors are angry at impatient. And they're unlikely to give the company much time. They're worried about the financial side. And they didn't tell us away. They're going to generate real cash. You know, they said we're not doing Baker Hughes. The sale of Baker us shares earlier where we're not selling G casts were not, you know, they haven't given us a way we're not doing an equity offering then how you going to get out of this cash Meyer. So do you think I'll tell you? They change their mind on that. And what's the most likely scenario to raise that money? I think they do change their mind on on some of this. First of all Baker us announced today that they're halting their stock repurchase. Waiting to see what GE is gonna do. Gee, said they're not changing the. Timeframe. So there is some kind of conflict there Baker uses that basically saying, we'll take it. We'll take it. And yeah, we'll take it off the market in advance of the John July twenty nineteen lock-up period. Also GECAS they love that business. I'm not so sure they're ready to do something with that. But they're getting knocked on the door. You know, the doors get knocked down on that aircraft air aviation finance business. I don't think they're ready for that yet. But but hey, Jim just quickly got about thirty seconds. You kept your hold rating despite cutting the price target and the full year EPS estimate why just quickly. There's a lot of value. A lot of value at the company. They have great assets. They are leader in aviation transportation is doing great even though they're spinning it off healthcare is a leader in oil and gas showed stability this quarter. So there are some great assets at GE, and if they could just get they're restructuring halted get the company back on firm footing. There's going to be value there. But it's just a matter of when. It's tough to put a sell on of stock is down there. Thirty seven percent is industrial do want to rotate into the stock. You've seen. The soccer hour over time. And if they could just get some good news going. Rotate back into the sheriff down about ten percent today down forty three percent so far in two thousand eighteen Jim corridor equity analyst oversee far a research on the phone in New York. Karen, you will heart. Thank you senior industrials analyst at Bloomberg intelligence in our Bloomberg interactive brokers studio, you're listening to Bloomberg BusinessWeek, Carol Massar and Jason Kelly. This is a Bloomberg.
"jason kelly" Discussed on Bloomberg Radio New York
"BusinessWeek. Jason Kelly from Bloomberg radio. The large beverage companies the push into pot is all about foam. Oh, the fear of missing out ever getting beat untrendy including things like craft beer, coconut water and flavored seltzer. The giants. Don't wanna miss the next trendy ingredient. And we're talking about cannabis Craig Mona wrote the story this week of the beverage industries pivot to pot and he joins us now. So Greg it's clearly a big moment for the marijuana industry with the legalisation coming at a federal level in Canada. Tell us about what's happening on the consumer side beyond the medical use as recreational marijuana really comes to the fore here. Yeah. Obviously, you know, Canada that's a big deal to western industrialized nation. That's now going to have legal cannabis joining or why? So what's happening on the consumer side of things really is at the beverage. Giant's are the first movers on this. You know, they've shown up in a big way under the idea that there's going to be a big market for cannabis drinks. Whether that's with THC get you high or maybe CBD for some kind of wellness. But it really all stems from constellation brands. You know, they make Robert Mondavi wine and Maddelo, and corona they made a big investment in a Canadian company called canopy grossed three point eight billion dollars that was really an inflection point for the industry itself. The stock boom that we're seeing Coca Cola has expressed interest in CBD. So it's really the beverage guys that have showed up I here to take part of what they see as a big growth opportunity. Well, I love how you write in your story credit. You talk about foam fear of missing out for the beverage companies. And you do talk about Coca Cola. I think they kinda shocked the world when they said we're interested in this, and we're pursuing it, and it really kind of set off a storm in contrast to PepsiCo said, we're not so interested. Yeah. Pretty interesting divergence there the two longtime rivals. So I think you're right. Coca cola. Coca Cola is probably the best known brand in the entire world. Right. Arguably, it's a company from Atlanta. They're not considered sort of a risky or cutting edge company, necessarily, but they came out and said, yes, we are looking at CBD for wellness drinks worldwide. So they made A a. very fine point. They said we're not looking at THC. This is not going to be coke to get you high. Right. But yes, we are interested in CBD as it might pertain to wellness drinks. So that sports drinks drinks targeted at the yoga crowd. Coke was this interest. Definitely sort of just a heightened the interested in this space. Jason, I know you love great writing and Craig always great writing. But you right in your story from the black bark into the stock market announced here appears to be on its way to the supermarket. I mean, we're rapidly moving in that direction where this is going to be a consumable good potentially. A lot of people think it is so Canaccord the Bank of Canada's saying it could be six hundred million dollar industry in the US by twenty twenty two beverage market. So that's a big. Yeah. The cannabis beverage market. That's right. So that's a big number, and you're talking about, you know, the fear of missing out comes from coke and Pepsi are struggling to sell what they sell which is very soda so sugar has become a health boogeyman people wanna cut back on sugar. And if you listen to people talk about cannabis beverages zero calorie comes up within the first five seconds. You're going to be zero calorie drinks, it's going to be water infused with CBD or THC. So there's really a feeling here that for coke and Pepsi. This is going to be an opportunity that they can't pass up after missing out on some pretty big consumer trends over the years, and obviously Pepsi said no CFO came out and said, we're not interested in cannabis and the stock went down. So that really to me said something kind of about where we are where you have coke San we're interested. They're seeing a stock benefit Pepsi says no in the stops falls. That's obviously investors think that this is something he's come. Should participate in so Craig as you look across the landscape. Meet the other big deal was constellation canopy making that investment five billion dollars. I believe is this a build or a by play. Generally. Is there any sense of how the beverage companies will move ahead here? So I think in initial days it's gonna be a by play. Just in the sense of you know, there's still regulatory issues here. Right. It's easy to kind of cover this industry or read about it. And think that this is fine everywhere. But look the federal government still considers marijuana illegal drugs schedule one, you know, the worst of the worst with no medical benefits, so the border still a big deal, you know, the border it's illegal in the US. So for a company like Pepsi or coke? You know, they don't have access to the banking system if they're dealing with marijuana. You know, the big banks have stayed away from it. So Canada has become the safe place to sort of a sort of experiment with it. So that's why you saw constellation do it that way. Basically take a big stake in a Canadian company, and I think. The action you're going to see over the next year will be north of the border in Canada. I think primarily by these big companies, partnering with existing Canadian companies have access to the plant which they need and have some expertise in cannabis, and then the big beverage guys can bring sort of the expertise and consumer branding. And all that so beyond the big beverage guys. You talked to lots of people around the industry does everybody essentially have.
Wall Street extends rally, tech leads S&P, Nasdaq to record highs
"I'm Charlie Pellett remove into, the final hour of trading in these two headlines to pass. On to you from the Bloomberg professional service President Trump says the Canada trade, talks are going well he goes on to say. The Canada wants to be a part of the trade accord. Stay with Bloomberg for the latest on those trade talks stocks higher the Dow the s&p NASDAQ all advancing SNP up fifteen again. Now, of five tenths of one percent add twenty, nine twelve that is a record with the SNP above twenty nine hundred. NASDAQ also advancing to a record up seventy two to eighty one oh to
Restaurant operator Yum China rejects $17.6 billion Hillhouse offer
"Bloomberg, radio Is this Eight A disco ball and some velvet I'm excited movers. And shakers I decided totally thrown I'm looking. In different. Places led a deck all right can you up Let's start with the s. and p. five hundred because, I feel like we're starting. To tick tock down to the holiday, weekend because markets finishing off. Their
AMD's New Radeon Pro V340 Graphics Card: What You Need To Know (NASDAQ:AMD)
"Some other names s., and, p. five, hundred. Jason three hundred sixty one names, hire one hundred thirty seven lower. Seven, unchanged I know you're the chip guy but I gotta talk about. AMD yeah number one gainer in the. SNP up five point three percent today highest level. In more than a decade they debuted a new graphics card over the weekend it's called the radio on pro v. three forty. Graphics card companies saying it can power the, most demanding, data center visualization workloads it's expected to develop on the. Fourth quarter, but anyway so. It sent AMD hired the whole socks index up one point six percent today Intel. Also gaining one and a half percent AMD's up thirty percent. In a month we have not seen a run like this at some point. We're going to have to bring Ian king to give us some historical context he's been watching this for a, long time and he and I go back aways back to that Early two thousands yeah, when we were watching these names. And. Let me tell you AMD was not doing this back then I. Mean Intel was had a boot on. Their neck proverbial much smaller player right I mean. They've always sort of hung around the hoop in a lot of ways that they had some CEO turmoil Fred time and they. Have never really been able to catch up, but I, mean this has been a just a tremendous them seven. Straight seven, th straight day. Of gains their longest winning streak in two years it's amazing it's pretty pretty amazing. As you say the biggest gainer in the in the SNP. And driving a lot you know that SOX is is an index that people. Really do watch very closely as a broader economic indicator because everything's managed you and me to know
Elon Musk Wants to Take Tesla Private. Can He Make the Math Work?
"Stocks let me just bring you in quickly on a story that we got in the last ten minutes about tesla the Elon Musk Mosca said. To perhaps be hiring Morgan Stanley to help take tesla private earlier this. Week you corrected me I thought it was. Last week we did see that the analyst from Morgan. Stanley Adam Jonas dropped coverage of tesla we thought that that might be because Morgan Stanley was working with. Them we're not seeing a big reaction on the share, price because it's one step among many and the biggest hurdle for Goldman Sachs board and Stanley anybody else that's, brought on. Board by Maas by tesla by anybody else it's. All. About Finding the finance yeah. I know you can write funding secured in a. Tweet but actually having fun insecure. Is a whole
Trump says he will have dinner with Apple CEO Cook on Friday
"President Donald Trump said he planned to. Host apple chief, executive officer Tim cook for dinner last night at his Bedminster. Golf club in New Jersey Trump tweeted that he was looking forward to the meal saying. Cook is investing big dollars in the US White House and apple spokespeople did not immediately respond to requests for, information on what the pair, had planned to discuss at dinner it came just over a week after apple became the first American Corporation to attain a market value of one trillion
Trump says he will have dinner with Apple CEO Cook on Friday
"Maderas can video games. Boost kids empathy researchers at. The university of Wisconsin Madison have developed a video, game for middle schoolers at forces them to decipher emotions in order to advance the results showed that number of kids who played the game showed better empathy and perspective in as little as two weeks I'm Ann Cates And I'm Susanna Palmer from Bloomberg world headquarters as investors worry about Turkey's sliding toward a full
Snap loses daily users, beats on revenue as Saudi prince takes stake
"Markets All right everybody you're listening to Bloomberg markets Carol Massar along with Jason Kelly letter earning news. A lot of tesla Tesla tesla tesla Marcia Marcia. Marcia we started Marcia Marcia, Marcia our, tesla tesla, tesla you went there Proud of you More about the broader market picture in. Just a moment let's get back to, your headlines Charlie Pellett keeping track of it all Charlie. To absolutely right and we just got another breaking news headline coming across the. Bloomberg right now Saudi Prince Alwaleed says he bought, a two point three percents, stake in. Snap snap reporting its first ever quarterly drop in daily Snapchat users signaling that a controversial redesigned to the social media, earlier this year still hindering growth revenue topped projections as demand increased for the company's mobile. Ads snap shares they are rallying right now by nine and. A, half percent again, repeating that headline the Saudi Prince Alwaleed says he bought, a two point three percent. Stake in snap the Walt Disney company released earnings after the bell shares are moving lower their, down two, point four, percent Disney runoff. Unreleased animated movies last quarter, stumbled at mar the entertainment giants, record-breaking summer box office performance and crimped. Its latest earnings got, a mentioned, tesla Elon Musk saying he is considering taking tesla A private and a radical step two would ease pressure on the money losing automaker tesla shares rallying. Today by ten point nine percent the Dow the s&p NASDAQ all pushing higher SNP up eight. Again there of three tenths of one percent the Dow of one hundred twenty. Six five tenths of one percent NASDAQ up twenty, four are by three tenths, of one. Percent gold up three tenths of one percent twelve ten the ounce I'm Charlie pelletan that is a Bloomberg business flash, thank you so much Mr. Charlie Pellett still wanna hear more later from you about visiting. The Brady bunch house but that is become the least of. Our, top stories today, Carol Massar as we look at everything that's happened over, the last few hours tesla. Is Charlie mentioned really leading the way in terms of grabbing the attention Elon Musk coming out, and saying, that he, would consider is. Considering taking the company private, private and one of the numbers, that we need to put out there. Is based on his, four hundred, and twenty dollars a share price Price tag for a take private that would value the company at eighty two. Billion dollars that's a big LBL it's, a big, old I'll. Be oh it. Would be almost not quite double. The size of the next biggest, which was back in two thousand seven taken private by KKR and teepee g, the financing the but the equity and the debt that would. Need to be lined up to do this sort of deal would be massive. And unprecedented right alone says he's got it he's got it lined up and. Is certainly experience although a final decision has not been just going to say no to his, employees said a final decision exactly has not been made so stay tuned everybody aren't you're listening to Bloomberg markets and this is.
Fed stands pat on interest rates
"Pressure on the Chinese in order to trade change their trade practices we've got more coming up. Also more on Tesla's shares now up about three. Percent let's go to Charlie Pellett, in the Bloomberg newsroom he's got a Bloomberg business flash thank you very much Pimm FOX tesla burning through less cash than analysts expected. Last quarter and stood firm with CEO Elon, Musk's projection that prophet is around. The corner after Years of lawsuits the fed wrapped up its latest policy meeting and the central, Bank is standing Pat on another rate increase four now and with more here's Bloomberg's Vinny Del. Giudice game plan remains the same. And their, official, policy statement fed officials repeated. They're planning to gradually lift rates while taking a pass for now they're aim, keeping the economy expanding at a healthy pace. While holding inflation and. Bay the Fed's next policy meeting late September futures trading imply that's when the fed will act NFL chewed ice bloombergradio as some p. five hundred index down three today down one tenth of one percent the Dow down. Eighty one down three tenths of one percent. NASDAQ up thirty five of five tenths of one percent. Tendered on ten thirty seconds. Yield two point nine nine percent gold down six, tenths of one percent twelve sixteen. Ounce west Texas intermediate. Crude down one point four percent at sixty seven eighty two apple shares at a record of five point nine percent at two one fifty and again Repeating our top story the earlier. Headline Trump administration says it is weighing whether to increase the proposed tariff on two hundred billion of Chinese goods to twenty five percent from ten percent stepping up pressure, on Beijing to change its trade practices I'm Charlie. Pelletan that is, a Bloomberg, business flash thank you very much Charlie Pellett you're listening to Bloomberg markets I'm Pimm FOX along with Bob every, we're in for Carol Massar and. Jason Kelly.
Icahn, with sizable stake in Cigna, to oppose Express Scripts acquisition
"Purpose Movers and, shakers the cost named Greg Bloomberg market movers and shakers with Carol. Massar and Jason Kelly on Bloomberg radio I'm Pimm FOX along with Bob, everywhere in for Carol Massar and Jason Kelly taking a look at the s. and p. five hundred one hundred and fifty three issues advance three hundred and forty seven decline and five remain unchanged Bob every. Let's, start, with your movers and shakers well. Tim I gotta go with the underwear we've got the Hanes brands that is no longer going to, be selling its exclusive line of champion active wear at target stores and that stock is. Down of it's what happened. To it it's down by twenty percent I think it was like nineteen percent and it's it's a ridiculous amount that showing how I. Think that investors are kind of fickle when. It comes to the, big box stores on the one, hand they punish the the shopping malls, but on the other They give it a lot of a lot of. Weight when it comes to retailers selling their wares there let me just, tell you about the shares of trip advisor down today by about a half a percent moving a little bit lower in after hours trading after reporting second quarter earnings of forty one cents a share estimates. Were, for, forty cents but revenue missed analysts. Estimates four hundred and thirty three million for the quarter estimates were for four thirty five we'll bring, you an update on trip advisor and it's guidance right now shares down eleven percent after. Revenue MRs Wall Street estimates. Sets trip advisor and yes trip adviser is of course based in Needham home to Bloomberg one zero six one Boston newburyport at thirteen. Thirty in metro west and the south short. We love our listeners, all over the glass Red Sox, nation yes it is I'm going to give you a positive today feeling good it is. Miller Coors the ticker is t. a. p. Molson course did. I, say Miller The old one I now it's Molson thank. You okay Molson, Coors Brewing company is having, a joint venture with hydro Pathak Kerry Corp in Canada to develop a non alcoholic cannabis infused beverage so. You're combining I guess it's not alcoholic but there's only it's. Only a matter of time till they get wise and start putting alcohol in it you're getting two of. My favorite things their business and pleasure I'm, not even gonna talk about that shares of Express Scripts down about six and a quarter percent. Today this comes after disclosure that the activist investor Carl Icahn has built a pretty sizable, stake in Cigna and that plans to oppose the fifty four, billion dollar takeover of Express Scripts is according to people familiar with the matter now the. Exact, size of Carl Icahn stay couldn't immediately be, learned but. It's below that five. Percent threshold that would have required him to. Disclose his holdings nevertheless The shares of Express Scripts responding to that news down more than six and a quarter. Percent Sticking with the underwear of motif yes they have here under armor is down today under armor is I'm not quite sure why been searching the Bloomberg terminal for, why under or maybe it's just one of those, things where if you have Hanes brands down you have the leak over to all the other Underwear Underwear Elastic on out of the. Underwear I want listeners to know that I made Pimm FOX laugh on it is not an easy thing to. Do, well let me tell you about MGM that's not a laughing matter for shareholders m. g. m. resort the stock down more than nine. Percent in today's, trading this of course has to do with the revenue going to accelerate beyond the trough of tough rather a tough second. Quarter I beg your pardon. Bob I'm just trying to do two things at once and at the. Tesla second quarter adjusted loss of three. Dollars six cents estimate was for a two dollar and ninety cent. Loss so worse-than-expected for for, tesla and they've, been you, know they've been criticized for burning cash and not making any profit You know most people would love to see a an electric car company. Succeed boys tesla having a. Hard time yeah they're burden through a lot of money let me just. Tell you what happened with the Vicks. Today we'll get the tesla in just a second the vix moved. Higher today it was up, three percent adding, zero point, four zero to the vix settling at thirteen point twenty three Dave My name is. Dave You're doing.
"jason kelly" Discussed on Bloomberg Radio New York
"Bloomberg BusinessWeek specialist space issue with Jason Kelly. On Bloomberg radio Secure we always love talking to Peter Cory usually about economics. CS usually, got a big idea about some. Trend that he spotted in Europe. This time though he is. Deep, into space I never knew this about him you. Say editor Peter coy yes Carl Sagan was a professor of Peter's, at Cornell so this is a really fun, backdrop to get into with Peter and he specifically caught up. With this. Woman Kathleen Howell who might just help everybody get into space alone that gateway Kathleen. Howell is a professor at Purdue, University who was a specialist, in exotic, orbits this is a very, narrow specialty but at very important one you know when we think. Of Orbis we just think kind of easy to. Earth goes around the sun the moon goes around the earth and so on but there are many other kinds of orbiter far more complex and NASA is planning to use one of these for the the spacecraft that is going to be positioned on the far side of the The moon that will then be used for human exploration of the moon and eventually Mars so we're talking about this gateway right the deep space Used to called the deep. Space gateway now they have a new name for the lunar orbital platform gateway which is a, really a mouthful you'll probably going to change it so what they wanted to or had, to have a whole bunch of special. Features to it it had to the spacecraft can kind of stay on the other side of the moon but also be visible from the earth so it had to kind of, make, a halo around the moon from the perspective of the earth because if it if it. Went behind the moon than it, would? Lose contact right But they wanted, to have it always be kind of. Moving with the moon and the only way to do that is to use the combination of the gravity gravitational force of the earth and the moon so sort of locked into place Like a sweet spot right it's it's there this is where it gets really techie because. The athlete how she's with you Is was building on work that. Goes back to eighteenth century this famous mathematician keep find, three three of these sweet spots and then another, man famous mad you, come, up with five. Hundred called the garage points and if you're in a, parking spot in space You you'll stay right where you are just because. Of the combination of the gravitational force and the centrifugal forces acting, on the. Spacecraft so you NASA wants to, use, is still called parking space or sweet spot and Kathleen how advanced the idea. By seeing you can actually orbit around one of. These. Sweet, spots so Peter put this in context for what's been called space race two point now we have all this enthusiasm kindle all this money now going toward not just. Getting into space really space exploration, how does this work pun. Intended propel that forward right well. Propulsion is a key point here because if you have. To constantly be using your thrusters and so on To stay at a certain vantage point. From the moon you run out. Of propellant pretty. Soon you'll be dead and you'll fly off so Kathleen howls orbit. What's called a near rectilinear halo. Orbit because it is in? The. Orbit of one of these sweet. Spots requires very little so-called station keeping it doesn't take very much to stay in place they have this so called xenon ion thrusters which are. Totally cool doing okay over there at bear lake I barely hanging on here, and you, use up your Zenana after a while but if you're if you are in a sweet. Spot then you're using less Zenana and you stay in place in, the spacecraft. Can stay where it is longer, and, you save money and so we have you here you're economics expert I have. To think you're looking at this through an economic. Land. This, whole.
"jason kelly" Discussed on Bloomberg Radio New York
"Issue with Jason Kelly on Bloomberg radio All right so this, next story is really a group effort by many folks here at. Bloomberg BusinessWeek, it's, on all things using satellite imagery and how the, industry includes of course Jason those companies that are deploying the satellites into. Space, but that information. That's collected is being used across so, many different, sectors well that's the pricing I found a Wall Street. Angle here you know you hear about the hedge funds and private. Equity firms they're monitoring all sorts, of things that are, happening here on. Earth, maybe. Looking at a parking lot maybe looking at, agriculture maybe. Looking patterns yeah exactly we got more about this story from editor Jillian Goodman we have all these satellites up there that are sending. Us more images and more, data than, we've really ever. Had before about things like agricultural production commodities, levels international development you name it? Get crowded up in space with. Interesting though is they've, gone. From being right these huge satellites really. Expensive many lo fi li- yeah. Lights we talked about one company called ice I that actually developed its own Own version of a satellite that's usually the size of a city bus right and so they've made it ten literally ten times. Smaller and as a result, you know, they're able to. Put more up there and you know just, get better quality images one of? The interesting uses of satellite imagery. That I was go, back. To because I'm a Wall Street geek. Is this idea of monitoring parking I mean like looking at that so I mean this does play more and more into the financial markets as well and as you say commodity prices and and whatnot so where does. It go from here I mean is it higher quality is it different uses what happens next I mean it's really you name it I. Think just because it's gotten so much cheaper to operate them and made that made the data. So, much more accessible until it allows people, to be a little bit more. Creative with how they're using it as, well. As the kind of data they're collecting what I thought was interesting about this story to it's not just all the companies that are actually putting the satellites up up into the there's a lot of companies that are actually. Tapping into other people's, data that's collected by satellite yeah that was, something? That struck me, too, is that we're talking about NASA. We're talking about the European Space Agency eight. We're? Also talking about companies like iside the developed its own. Satellites and then sells, that data, to other companies that do their own special breed of, analysis and combine it with. Other data and sell that analysis to customers so it's a really really interesting vibrant ecosystem for the financial guys right you can say well wait I'm interested in either crop production. Or I'm interested in the tesla parking, lots. Of cars there or whatever I mean they really kind of customizing all this information exactly and they're making money off it yeah well and one of the things that also strikes me about this is you know we're in. The middle of this, new age space race right and it is, fueled? By a lot, of, billionaires Jeff Bezos. Or Elon Musk and others who are getting into this mix and they probably, are approaching it with an eye toward. How to use the data that's ultimately collected from all. These adventures maybe in a way that NASA wasn't always thinking about yeah I mean there, are companies that are using the data. From those. Satellites to crop production I don't think that that was the goal of the Apollo missions I, don't think that was what we were. Thinking. About when we saw Sputnik go, up and wandered around, up there so you do dig, into a lot of different industries and one that certainly uses a lot of satellite imagery is pilots. And the airline industry and there's a, company? Think earth cast talk. Technologies also founded was also interesting too is a lot of these companies were founded by NASA veterans but. Earth cast, is one of them yeah so earth cast. Can. Do really really hyper-specific weather forecast. Not. Just, like your city block but your specific plane route so they can, do it, at different elevations in the in the atmosphere different altitudes, are? Really kind of cool right and playing my plan Yeah Whether is such an interesting application for this too because I feel like we have all, gotten especially with our. Smartphones we've gotten a lot more.
Amazon beats estimates, Wall St. breathes sigh of relief
"Around Again You got a purpose Movers and shakers they. Cost a little lower Greg Bloomberg market movers and shakers with Carol Massar and Jason Kelly on Bloomberg, radio everybody time for a look at your winners and losers movers and shakers on this Thursday. Afternoon we gotta start right with the earning because Amazon Intel and an all out, Amazon let's go through the those results because the stocks up about three, point three percent here in the after. Hours, Amazon the headline. Numbers second quarter net sales, fifty two, point nine. Billion it's a little bit. Light the estimate was four fifty three, point four, billion and the third quarter. Outlook the company saying third quarter net, sales Jason, fifty four to. Fifty seven point five billion that too is. Light the Wall Street estimate is. Fifty eight point zero three and the PS. Number you heard Charlie do it like to see some clarification if this is indeed the number because it's so it's a big, beat five, dollars seven. Cents the estimate that we've got currently on the Bloomberg terminal to forty. Nine so that would be certainly a, big But everybody's also looking at, the of the stock was down a little bit too down, about three. Or four. Percent now it's up almost three point four percent this feels like why those, reports Carol where people are trying to figure it out waiting to get a little bit more. Explanation you get that sound you hear a sell side analysts up and down Wall, Street scribbling in typing using spreadsheets to try and figure out what this, all means I wanna move over to. Intel, briefly a second. Quarter revenues coming in at, seventeen billion, at beating. The estimate of sixteen point. Seven nine billion they are boosting their, view for, the year a second quarter. Adjusted EPS coming in at a dollar, for the, estimate there was. For ninety six cents so that feels like. A pretty clean beat for the. World's largest semiconductor may tell down three point. Two percent here in the after hours so we're gonna need to see but you know what's interesting is Amazon sold off initially, think down, almost five. Percent right after three adults and then it's bounced back and now it's. Up four point four percent let's see There's some follow through when it comes to Intel. Other year revenue they're looking for, sixty nine. Point five billion plus or minus, billion, that's one thing that that that may be, catching people a little bit by surprise especially. Given what they are. Saying for this quarter you know trying to come up with, some consistency about the rest of the year let me mention Amgen second quarter. Just at PS three eighty three that, is better than the forecast of three fifty six or path a sales up seventy eight percent, so this. Is one of the key metrics when we're. Looking at Amgen and also saying a succession planning for two executive officers so it sounds like the replacing. To top executives said looking at kind of the c. suite working around with that let me just, take a look at Amgen here in. The after hours it's up about. One percent here, feeling like a lot of executive turnover being asked his quarter just as we did it, we saw it with Gilead. Yesterday surprising the street a bit, with their. CEO CEO Changeover and obviously some. Other moves less expected coming out over the past few weeks Amgen, it's Shaun Harper their executive VP, of research and development and a. Sixteen year veteran he's going to be succeeded by David had been a senior vice, president translational scientists and oncology so there are definitely. Some changes, I'm just taking a look at the Amazon live blog stocks now up. All of their fangs are now, up around half a percent from the market close or Libya shaver she's across asset was reporters weighing in on that Amazon providing guidance. For the third quarter expecting revenues between fifty four and fifty seven point five and that is a little bit light Alice expectations. For fifty eight point zero three billion so a little, bit more insight into that one definitely will be looking for. Color from the call as that comes out and we will be monitoring. Very closely this top light blog. As you and I have talked about this it is the best cheat sheet there is. Out there for us because we, get to leverage all those great journalists and analysts Both inside this shop and outside as the sell side especially starts to pour in with their initial reactions, to. Amazon Intel Amgen. As you say we are in the, heart of the earning season. Carol no doubt about this is a busy week and speaking of earnings, we've been talking about. It all day and rightfully so. Facebook you know twenty four hours ago Jason we were all over at Facebook was your number two decliner in the s. and p. five hundred disappointment about so many different, metrics user engagement and revenue outlooks on that stock was down eighteen point nine percent in, today's session going as low as a twenty percent decline also seeing Starbucks crossed the Bloomberg terminal. Third quarter just did EPS sixty two, cents a. Share a penny better than the forecast comes. Up one percent and that's a little bit better than the forecast which was for an eight tenth of a percent. Rise let's get a quick check on your index report the vix. Down a hair down about point. Four percents of x. closing on this Thursday at twelve point twenty four you're listening to Bloomberg.
"jason kelly" Discussed on Bloomberg Radio New York
"Jason Kelly and this is Bloomberg radio Hi my name is Dave You're doing And that little montage, of course means none other than Dave Wilson Bloomberg stocks editor bringing us his stock of the day Mr. Wilson back in our. Bloomberg studios what, you got I, got, Kaiser. Aluminum Jason this is started just after World War. Two ended nine hundred forty. Six industrials Henry Kaiser lease three aluminum plants from the. US government he later bought those facilities, these days the, company, supplies aluminum proxy makers of planes. Cars machinery in this. Month marks the twelfth anniversary of Kaiser Aluminum's emerges from chapter eleven bankruptcy was resolved as best as related claims since then stocks been listed under the ticker k. a. l. u. Kaiser shares of climbed almost eightfold since US stocks began a bull market in March two. Thousand nine they set a record today after second quarter results were. Well received Kaiser's revenue surpass. Analysts average I spent in a Bloomberg survey by the most in more Than three years earnings also beat projections. CEO. Jack Hawkins said on a. Conference call. That the, company offset. Higher costs for raw. Materials and freight by raising prices, in April and may so they have some pricing power to be able to deal with their cost increases now shares of Kaiser. Increase for awhile, today they're up, as, much. As nine point six percent on the results emblematic. Of how the day unfolded. Because the gate back a lot of the games as. The day came back a lot of, close higher by, point, six percent so gene goes to. Show you just kind. Of pull back that the market experience showed up with Kaiser as well stock is up about five percent this year but that's a that's a big pullback from that rally well and although I can't unread sure anybody would expect an aluminum maker to be doing so. Well in this world of trade and tariffs that we're living in. Interesting it's a really good. Point eight pick all right Dave Wilson thank you so much I Bloomberg com Dave Wilson with his, stock of. The day you're listening to Bloomberg markets carolmassar Jason Kelly time for a check on wall the national news headlines over. To Nathan Hager Wego internet nine one newsroom, in Washington DC, hi Nathan Caroline's speaking of this world. Of, trade and tariffs that we live in President Trump is telling farmers threatened by duties just be patient I said we're going to have to tariff you cars. They. Said a when can we. Show up. When can, we be. There tomorrow be okay FOX thick? With us Speaking at the veterans of foreign wars convention, in Kansas City today the agriculture department announced twelve billion dollars in relief for farmers threatened by tariffs and prominent congressional Republicans say they'd rather. Have trade not aid the supreme court decision that requires online sellers to collect state and local sales taxes may have been lost for the internet giant. In the case Wayfair but as Bloomberg's Irv Chapman reports from Capitol Hill was a win for local stores who insist etailers have. Had an, unfair advantage Jerry chairman Bob Goodlatte is a long time opponent of states taxing mail order..
Turkish lira tumbles after central bank keeps interest rates steady
"And a look. At, trading could use voice. Charlie well here's what's going on I'm just thinking about all these Alexa. Devices going off across the country. They listen to this broadcast today but right now we've got the SNP up six, up two tenths of one percent the Dow up one hundred thirty nine up six tenths of a percent NASDAQ down sixteen a drop of two tenths of one percent equities fading in the afternoon session NASDAQ turned a negative after an. Initial boost from, the technology sector Google parent alphabet anchoring of big leap after, beating estimates last night right now alphabet is up by three and a half percent Turkey's central banks, stunned investors by keeping interest rates unchanged defying expectations for increased borrowing. Costs. And sending markets in Istanbul tumbling Bloomberg's semen Duncan has, more, from our bureau, in Istanbul Yes he's the investors are losing faith, in the central bank's independence they were expecting a rate hike by. At. Least one hundred basis points and the central Bank fate Failed to deliver anything at, all now of course inflation is running more than triple the. Central bank's target rates and even though since April the central Bank has raised by five hundred basis points investors say that more needs, to be done. To cool inflation the US government is suing fanatics Inc that is sports apparel company whose. Investors include the NFL and major league baseball for racial discrimination harassment and retaliation Ivanka Trump shutting. Down her fashion and footwear company and just getting word from Wells Fargo. It is boosting its quarterly dividend to forty three, cents, a share up from thirty nine cents Wells Fargo, based in, the bay area of four tenths of one. Percent the tenure. Of two thirty seconds yield two. Point nine four percent gold, up one tenth of one percent west. Texas intermediate crude up eight tenths of. One, percent I'm Charlie pelletan that is a Bloomberg business flash thank. You so much Charlie Pellett I'm Jason Kelly alongside Carol Massar we are live at the voice summit The. Wellness and event center on, the. Campus of nj NJIT here in. Newark New Jersey this is Bloomberg radio The focus to add.
Comcast turns focus to Sky after exiting battle for 21st Century Fox
"Earlier this month that Tehran may block regional oil exports if its, own sales are stopped following the, US, withdrawal from, two thousand fifteen nuclear deal with world powers west Texas intermediate crude closed at sixty eight twenty-six yesterday. John Dillon Noce titan capital management tells Bloomberg he's looking, for, higher oil prices when you look at where inventories are, going to be at the end of. The year when oil when inventories are at that level oil prices are generally closer to one hundred then sixty so we were constructive on. The oil price going into going into the the end of the year after raising the. White flag in the battle with Walt Disney for the bulk of Rupert Murdoch's media empire com Mhm cash chief executive officer Brian, Roberts has, one last prize to fight for and that, would be, the British pay-tv company sky Comcast, currently has the upper hand in. The race for sky with an offer twenty six billion pounds at six percent higher than, rival Disney back bid for Murdoch's twenty-first-century Century Fox, which already owns thirty nine percent of the company. Global news twenty four hours a day on air and at tick tock on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries I'm Greg Jarrett this is Bloomberg This. Is Bloomberg BusinessWeek. From Bloomberg radio I'm Carol. Masser Jason Kelly plenty head for, you in, this hour of Bloomberg..
Trump Lines Up Powell as Scapegoat If Tax, Trade Moves Sour
"Inmates in facilities without central air conditioning medical experts are asking people to be aware of the warning. Signs of heat exhaustion which Dr gills. Salazar says can come quick. Feeling Malays headache nausea, vomiting those are symptoms not to ignore temperatures in parts of North Texas and Oklahoma could reach his highest one. Hundred nine over, the weekend and everyone has different ways of, handling. The heat is keeping hydrated take him to the, pool, of possible as. Some type of water I'm originally from Michigan, I, don't, like. Heat I'm my body doesn't like keep Clayton Neville Dallas the apartment search service rent hops issue kogo is the rat capital of a, country a company based the ratings on rat complaints last year in, four major cities more than fifty thousand complaints were logged in Chicago I'm Christopher cruise And I'm Mark mills in the, Bloomberg, radio newsroom President Donald Trump looks to be lining up, Federal Reserve chairman Jerome Powell to be. The fall guy if the president's trade and tax policies don't succeed in a series of comments over the past two days that shook financial markets Trump attack the fed for raising interest rates and for undercutting his efforts to slash the, US trade deficit Mark spindle chief investment officer of Potomac river capital, in Washington says President Trump quote is just setting up someone else to blame if things don't go according. To his plan Jerome Schneider head of short-term portfolio management at pimco says the fed is likely to stay focused on its mission with the fed has been consistent in that they're going to respond. To the data and the data is also making a drive where they're going to do at Jerome Powell is going to maintain his trust within that structure and continue to. Normalize monetary policy. In that regard the boards of Fiat Chrysler and Ferrari are scheduled to meet today to name successors to. Chief, executive officer Sergio Uh-huh, marquee Oni one of the auto industry's most skilled turnaround artists according to people familiar with the matter while. The trade war with China heats up there are signs of progress in forging a new trade agreement between the US Canada and Mexico Bloomberg's Bob moon explains negotiators for the US Mexico and Canada. Restart their renegotiation talks over the North American Free trade agreement in Washington Thursday signs of progress back days of positive rhetoric on reaching an agreement helped lift agricultural commodities at. The end of. The week Mexico's economy minister held out hope for an agreement in principle by next month Bob moon Bloomberg. Radio Congress will allow President Trump's deal with China's z. t. e. corporation. To remain in place agreeing to a key Chinese demand in the broader trade disputes between the two largest economies according to three sources familiar, with the matter global news twenty four hours a day on air at tick tock on Twitter powered by more than twenty. Seven hundred journalists and analysts in more than one hundred twenty countries I'm Mark, mills this, is Bloomberg This is Bloomberg BusinessWeek Bloomberg radio hi I'm Jason Kelly Carol Massar, over the next couple of hours we're going to go inside the magazine.
Son of U.S. envoy to China using political ties to elevate his business - Axios
"Scorpion has set a record for most one day streams for an album on apple music since its release yesterday can't play much on the radio we can play a few seconds slog more than one hundred seventy million streams a lot of bad things the twenty five tracks scorpion expected to debut at number one on the billboard two hundred albums chart i'm michael toscano i'm susanna palmer from bloomberg world headquarters the wall street journal reports senior saudi arabian official as saying the kingdom in fact has not made a specific promise to president donald trump to raise oil production instead the kingdom assured trump of its capability to meet oil demand earlier trump said the following in a tweet about a phone call he just had with saudi's king salman i am asking that saudi arabia increased oil production may be up to two million barrels to make up the difference prices too high he has agreed but again saudi arabia says king solomon has not in fact agreed to boost production in another misunderstanding with global implications president trump said yesterday he doesn't plan to withdraw from the world trade organization but once the us to be treated more fairly by the wto axios news agency reported earlier in the day that trump had repeatedly told top white house officials he wants to exit the wto setting people familiar with trump's thinking socks here up six hundred index and us futures both wobbled on the story before recovering meantime barons in its july second edition reports investors should start preparing for the demise of the bull market in two thousand twenty the report says higher interest rates and the federal reserve's plans to shrink it's four trillion dollar balance sheet combined with the fading impact of tax cuts and other government stimulus will bring an end to a nine year rally in markets bill shine the former co president of fox news is that to join president donald trump's white house in a senior communications role that according to people familiar with the matter sean would become the latest in a string of people to cycle through the top ranks of trump's press operation since his inauguration last year there have been five white house communication directors in the past eighteen months global news twenty four hours a day on air and it ticked up on twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries i'm susanna palmer this is bloomberg this is bloomberg businessweek from bloomberg radio hello i'm carol massar jason kelly plenty ahead for you in this hour bloomberg businessweek it's.
"jason kelly" Discussed on Bloomberg Radio New York
"Businessweek special heist issue with jason kelly on bloomberg radio this issue we've been talking all about heist and on the other side from the criminals those trying to track down the stolen goods and that's where burning silver comes in well in vernon is one of our most talented writers he's over there in europe carroll and he's been following this for quite some time and he found this kief figure in the world and as you say he's on the other side of eight he's sort of a vigilante he is loathed by the auction houses because he essentially goes in and says by the way you can't sell this shouldn't sell this because this belongs to the country of greece or the country of egypt amazing they've had to pull of lots because of that let's get more from silver so verdon silver you bring us one of the most fascinating characters in the art world not known to many but for those in the know says zero janas is something of a hero tell us about him this is a forty five year old greek archaeologist who over the years has built a tremendous photo archive of pictures that have been seized over the years by the greeks the italians other raids on swiss warehouses of the photo collections of traffickers accused traffickers merchants people who are buying and selling in the archaeology underground these are vases statues and some cases that look like they've just been dug out of tombs are told from the soil and from these tens of thousands of pictures he's got he's built this huge online archive of literally about one hundred thousand different objects that might have been stolen from archaeological sites and he just sits there lazing wait essentially in his house in cambridge england waiting for auction houses to put out there online catalogs and as soon as they do he leaves through them literally clicks through them online and tries to make a match from what's being sold to what he knows has gone through the underworld really of the antiquated trade and every once in a while he finds a match playing that game memory we flip over to cards and say yes we've got it and what we did was followed him while a christie's catalogue from a sale in new york was coming out to see how quickly or if he could even find a match between one of these tens of thousands of objects that that he has in his secret online archive and what was coming out in the auction catalog so take us back to the how does one get into this business of trying to suss out for and heist essentially that have been perpetrated in the art world right i mean the really important thing understand about the trade is that countries like egypt italy greece the source countries for these ancient artworks that all of them have these laws that say anything that comes out of the ground that's ancient is the property of the state and that sort of the beginning of understanding that this is generally a crime not old old sarcophaguses and statues that have been in collections for hundreds of years but anything that comes out of the ground essentially in the past century is considered state property knowing that this guy who grew up in greece is greek archaeologist really felt like it was part of his national duty and duty to the ancestors and people have been buried in these tombs that.
"jason kelly" Discussed on Wall Street Business Network AM 760
"With carol massar and jason kelly from bloomberg radio oh the volvo clearly in the pop culture there carol the company this week opened a new plant in ridgeville south carolina to build it s sixty sedan to be sold around the world and that's including back in china the home of volvos parent company geely automotive holdings carol you actually had an opportunity to talk with the ceo volvo the day he opened a new plant this is the first american plant manufacturing plant volvo tell me what it means for the company really know for the first time we are truly global company exporting of you really fell we will build them in europe we will be them in america we beat those things so these really complete say of course a means that snl we are that is absolutely essential when the morning come closer if you everything was absolutely right interesting you guys are truly i feel like an international company if you think about the heritage of although a swedish brand now owned by a chinese automaker a chinese company now manufacturing here in the united states tell me though about this growing wave of protectionism obviously the trade talks that are going back and forth and it looks like the imposition of tariffs certainly between the united states and china and others what does that mean for you folks because you're planning to export a lot from this facility here in south carolina i think the only industry but of course i utions say november factory you're in the us four three that would be even more nervous we believe reading freetrade because that needs three humor's we believe in that it should be fair trade both way that is really what also to demonstrate these factory when is fully used in three years time it takes to to the us three years of course we review it wouldn't be enrolled back there we would jeopardise great for them curious to with china now planning retaliatory tariffs against us made autos will you folks keep making the s sixty which will be producing out of his ability in south carolina we though continue making it in china for some time we than time these the dynamic six carolina two us i wouldn't be in jeopardy in terms of production capabilities give me an idea of how much will be coming out of the south carolina facility i know the sixty you guys are unveiling it this week how much do you plan to produce and how much do you plan to grow that production skopje's for both species that makes more than within three years time we will introduce the new generation nine and then we will use this factor capacities four hundred fifty thousand a year and a half of that export number seventy five is more or less than same number that we import european china into the us and we would have a balance what is it about manufacturing in the united states why do in south carolina you can do it anywhere you're going to be exporting big time from this facility why pick the us was it about tax breaks what was it in particular achieved labor force i'm trying to understand of course he is really shaping up days mexico friends with everything i think we need a commitment and to our consumers showing that we are really portland long around them from from the government the issue reach i am more than ever position.
"jason kelly" Discussed on Bloomberg Radio New York
"Carol massar and jason kelly plenty ahead for you in this hour of bloomberg businessweek including a story that looks into how to bank the next gilded age i'm so into this story about who are wealthy about private equity one of the things i love about this is we're talking about j p morgan trying to find out who the next john pierpoint morgan is i mean we're really going back to how to bank the most influential wealthy mega rich around the world it's not when the story hit the terminal at it remained among the most read for the whole day hey also coming up in pursuits they have devoted the whole section to throwing the best summer party from food to drinks two games to how to be if you're going to a party on your own i know i love this advise and also you know how to build the ultimate party playlist i liked that too all good staff but first up democrats priority is to protect criminals not to do what's right for our country my priority and the priority of vitamin destruction is to serve protect and defend the citizens of the united states that's president trump of course earlier this year jason and talking about immigration this has been a key part of his platform when he was on the campaign trail certainly a key part of his administration trying to put pressure on cities counties and states that don't cooperate with federal immigration officials and what's interesting is we've got a story that really digs into the amount of data that's being released by ice and what it tells us about the trump immigration policy and whether the data supporting their policy basically.
"jason kelly" Discussed on Bloomberg Radio New York
"Radio and tv jason kelly will be with us to talk about creating wealth becoming wealthy and then giving it away there's an individual he talked to who knows an awful lot about that as well we'll get to that in just a moment back to your top stories and let's get an update on the trading day hey charlie hulo they're happy friday carol massar we have got the dow the sp nasdaq all pushing higher as risk off sediment the gripped investors late in the week seems to be fading we're on track for a winning week here with the snp off now by five points up two tenths of one percents the dow up fortysix also up by two tenths of one percent has stack up ten that is a gain of one tenth of one percent the tenured onto thirty seconds the yield right now two point nine two percent as for the volatility that we have seen in emerging markets gabriela santos's global market strategist at j p morgan asset management i don't think it's necessarily rate hikes in and of themselves that are concerning to emerging market economies or performance it's the link between higher rates and a stronger dollar and those who don't have to come together with really concerning for emerging markets really is dollar strength j p morgan chase says it is staying the course on brazilian stocks even after acknowledging that would have liked to have downgraded them a month or so ago before the country's currency weakened to below two since early twenty sixteen and oil drillers added more rigs in the us this week on daunted by pipeline bottlenecks that are hindering efforts to ship crude from the nation's busiest field baker who says working oil rigs rose by one this week two.
"jason kelly" Discussed on Bloomberg Radio New York
"With carol massar and jason kelly from bloomberg radio let's just keep would do this is sure is booming in germany europe's biggest economy is firing all cylinders however with all of the success there is one downfall a shortage of qualified workers now some companies are offering perks to woo the country's best and brightest david rocks edited the story this week about germany's stretch labor market and he joins us now so david nothing like a hot economy to lavish perks on workers and that's exactly what we're seeing in germany tell us about it well there's companies they they're having a hard time finding workers unemployment is down to record lows and so they're they're giving people all kinds of great stuff to sign up we found a kid who who got a free trip to new york or at least the promise of a free trip to new york after if you had a good year and he got it and he went we've people sausage platters and free housing and all kinds of stuff to actually sign up you have to stop there a sausage bladder when i read that i mean that's considered a perk hey i mean truman sausages good here what are the interesting things about that is that a lot of this is non monetary this isn't really playing through as much to straight up wage growth is more kind of quality of life is that cultural is that of the moment why is that.