35 Burst results for "Pimm Fox"

Covid-19 Vaccine Misinformation Spread on Social Media

P&L With Pimm Fox and Lisa Abramowicz

01:45 min | 4 months ago

Covid-19 Vaccine Misinformation Spread on Social Media

"Sarah frier. She's a bloomberg technology reporter. Who has been doing a deep dive into the misinformation spreading across social media specifically facebook in regards to vaccines stare. You have interviewed for example one woman who doesn't believe in vaccine induced herd immunity. She get this from facebook. He gets messed brown from instagram. And course by facebook what happens here is people fall into the personalization facebook and instagram. Provide them if you start looking into. This woman. started out looking into holistic medicine alternative treatments. She felt Bullied by her doctors ring a cancer treatment and was looking for another way to stay healthy. Not only she's getting this information about vaccines not really information at all. It during her wrong and a lot of the people who are telling her. Oh you just need to take this holistic healing method or detox in this method or You'd try these techniques. They're selling supplements. They're selling essential oil. They're selling Wellness retreat so. She's she's not really getting vitim. It information from doctors and we're seeing that happen a lot on facebook. It's more about the fear on the kind of messages that spread on. Facebook are the ones that that make people comments and share That's what tells the news feed algorithm that. It's a serious post that more people should see and so these lies about the vaccine particularly lies that are targeting women which we can talk about in a second are are just unable to tamp down by the company

Facebook Sarah Frier Instagram Bloomberg Brown Cancer
What airlines, other industries got in $900B relief bill

P&L With Pimm Fox and Lisa Abramowicz

05:43 min | 7 months ago

What airlines, other industries got in $900B relief bill

"Or next guest. Points this out. Tax payers are putting up almost five hundred thousand dollars for each laid off airline worker to have three months of employment while cooks and waiters. Get nothing in other words. Airlines are outranking restaurants in relief. Money don't oh sarah. Bloomberg opinion columnist joins us now. Joe did thought go into this or was it a simple matter of the airline lobby being more powerful than the restaurant lobby well. They're barely is a restaurant lobby that start there whereas airlines have been Staffed up you might want say for for many decades because airlines have had dealings with the federal government from many decades between the faa and you know various various airline regulations. I wanna sell for so so you know you start there. I mean restaurants are just just diffused organization. They're not large companies. And even you know restaurant chains. I mean putting mcdonald's aside You know in a city. Like new york danny meyer. Who is probably the best known restaurant tour in the city. You know he has maybe twenty restaurants and do that just doesn't give him the clout that the airline industry has even though they employ more people and even though there are people are really really hurting. So joe this is a column by comparing and contrasting the airline industry with the restaurant business so the restaurants. Obviously it is a you know. It's it's industry. Lots of independent operators historically has not been pushed to organize better this industry that is so important to many people's daily lives. Well is a restaurant lobby of sorts. the national restaurant association. But it doesn't seem to have a lot of clout For whatever reason after the pandemic After the first round of of a stimulus the ppp program There are a bunch of independent restaurant. Tours tried to start an organization called the independent restaurant coalition and they had a lot of success. They got they. Have they have a bill that would cost one hundred twenty billion dollars which is a lot of money and the idea. Is that instead of trying to do it like ppp. You know the restaurant industry would be get money. Based on last year's revenues pre pre pandemic revenues and and believe it or not. The bill passed the house in october. Actually by quite quite a large margin it had more than fifty co sponsored in. The senate bipartisan but in the senate is run by one guy and his name is mitch mcconnell and he was more interested in that three martini lunch tax break which he claims. We'll help restaurants but no one in the restaurant. Industry seems to think it will make much difference at least not in a short term. I mean at the very least if people start flying again. They will need to go out for runs at their destination. But it's gonna be a long time before people really start flying in numbers again joe particularly since the vaccines aren't out there yet. So you know what is the thinking behind. This was going to thank the. There's two things going on here. the first is that that airlines You know they will be bringing people back to work. It's easier to give money to a large company that can do one thing that can bring fifteen thousand people back to work. They can bring twenty thousand people back to work. It's easier whereas You know giving money to restaurants is kind of a messy your proposition. Because they're all so. Many of them are so small. And it'll be you know there's that but the thing you have to remember about restaurants it's not just a place to eat. Every major city in the united states restaurants are at the core of vibrancy and their downtown area. And you know if you're going to build a new suburban area it's going to be built in large part around restaurants. I mean they play a hugely important role in the life of cities and so ignoring restaurants is really a dan damaging america's cities and. That's what breaks my heart about this more than anything else. So what's the i guess. The fate of the us restaurant. I if you will. I mean these. I'm going to call them. Individually owned mama. Pop if you will. But you know the the non chain owned restaurants. The numbers were seeing in not just new york city but a kind of across the country are staggering in terms of how many are likely have gone out of business are likely to go out of business. How bad is it going to get a hundred and ten thousand estimated to have gone out of business in the us. That's a lot you walked. I mean look. I'm a new yorker so i walked on the streets of new york city and you just see them closed up everywhere You know some of them will survive. There's certainly will. There are restaurants that will survive. There's there's no question about that. Some of them have learned to shift to take out Even even at the very high end i get. I get a notice from Daniel baalu who's one of the great chefs in america. Saying you know. Get get our christmas dinner for you. Know seventy five dollars will drop it off at your house that kind of thing so you know. Some restaurants will survive. But i think what you're going to see is that when the pandemic and and people can start going to restaurants again You'll see a lot fewer restaurants and it will take. I think generation for restaurants to build up to where they were just because there'll be so little capital left in the industry

Danny Meyer National Restaurant Associatio Bloomberg FAA JOE Senate Mcdonald Federal Government Sarah Mitch Mcconnell America New York New York City Daniel Baalu
The Verdict on Trump's Economic Stewardship

P&L With Pimm Fox and Lisa Abramowicz

07:55 min | 10 months ago

The Verdict on Trump's Economic Stewardship

"President Trump speaking to the economic of New York and various economic clubs across the country and we had questioning from Senate O'CONNELL of the Economic Club of Florida David Rudenstine of DC and Mike. O'Neill. The New York we have Michael McKee with us now our chief. Correspondent for all things economic both and. and Michael a very serious conversation here the president's putting out some ideas couple of inflammatory statements like how Joe Biden Presidency would be a socialist dream in American nightmare. But at the end, he was asked about things like infrastructure stimulus national debt did we hear anything new from the President? No, but we haven't been hearing much new from him throughout this campaign. It's he mostly talks about what happened in the previous three or four years and he talks a lot about, of course what happened to the Obama Administration? The questions he was asked about infrastructure spending he didn't answer. He said what he always says about many different things that he has a plan, but there's never any plan they were coming close to a deal on infrastructure at least Democrats in the House and the president when the President got upset with Nancy Pelosi and broke off the talks and that was two years ago and nothing's been done on infrastructure since. The House and Senate have a very big differences about how you would pay for infrastructure and how you'd structure the program. He said today the walls one of the biggest infrastructure projects ever. That's not true. He did shut down the border under the guise pandemic protection. So that part of what he said about the wall was correct he was asked about the deficit. and. Has Somebody. Else says quite often about this. This is one of those. Up his down down his up trump statements, he said the deficit was falling and we were GONNA pay off interest costs and start paying down principal on the deficit before the pandemic hit. That's one hundred percent one, hundred, eighty degrees opposite from what was happening deficit was rising significantly before the pandemic because of the tax cuts so. It's hard to know exactly what he was trying to do other than insult. Joe Biden and and stir up his base. Yes. Absolutely I think that's probably what we can expect from him. As we approach the elections three weeks left and we're going to get viewers questions. You know at some point tomorrow night's tonight and facts as we will be hearing a lot more from the president on economic matters and so on. But really nothing moves the needle. Until we get some more idea of what happens with stimulus and Ardley Nancy Pelosi doesn't look like. She's about to give in to to to president trump's requests or whatever republicans are requesting not that that's now well, even here's the thing we have to remember that even if the speaker of the House and the Secretary of the Treasury agree on some kind of deal, it would have to pass the Senate as well as the house. A number of house members have already suggested Dowse House Democrats have suggested they would vote against it because. They don't think it's big enough and. The question then becomes how many Republicans would vote for it if it's not considered big enough then in the Senate, you don't have fifty senators who approve of it. The Democrats are pretty united against it and half of the Republican senators say they don't want to spend anything. So at this point, there's a lot of focus on wall, street about the talks talks. In quotation marks between Nancy Pelosi and Steven Mnuchin. But the odds of something actually happening particularly before election day very, very small. Yes and for some reason and she wasn't quite care about yesterday when she was speaking with Wolf Blitzer Nancy Pelosi is not willing to even consider this one point eight, trillion dollar stimulus. What is it in their Michael? Can you decipher? that. She's so against she was actually quite angry with the to Democrats that said that they should be accepting this. The part of the play. A part of it is the way the money is distributed. Part of it is the amount of money for states and localities is not enough they believe and part of it obviously is politics. They don't WanNa give, Donald Trump. He kind of victory before the election you remember the last time when the cares act was passed in the twelve hundred dollars was going out for those who got it in check form trump held up distribution of the checks until he could have his name printed on it and last thing Nancy Pelosi wants is for voters to be opening their mail the day before the election and seeing Donald Trump giving them twelve hundred dollars. Yes that is to I'm sure and also presumably that machine is up and running now. So there may not be so much of a delay this time around but there is an argument to suggest that people need cash. Now, no matter how it comes in a matter who gets the credit right Michael Danny lower on earlier saying this country is in trouble there is particularly because more people are losing their jobs. Now, as we're finding more companies go out of business and. The airlines are a perfect example not going out of business, but laying off tens of thousands of people because they don't have any business to do at this point, and that was one of the hopes of the stimulus bills that they could get aid to the airlines in the short-term But nother interesting statistic came out from the New York Fed yesterday of the people who got the stimulus checks the first time around average of about twenty four, hundred dollars each seventy one percent either save the money or paid down debt. They have money in the bank and so if this. Rebound continued to go faster than expected. We might have a tailwind and we might need less of the stimulus checks I think the biggest difference now is that there are going to be people who. Didn't save. Don't have the money who are losing jobs permanently who may need something yeah. I found that phenomenal as well when you consider just how many people are at food banks in food lines as well who were once you know happily employed or all of the people around Orlando that are living motels because they'll also job at. Disney. For example. have to move every two weeks. Otherwise they risk you know Being, a problem for the Ho- The motel owner because after two weeks you can't you know get victim normally you have to go through the court process i. mean there are an array of stories out there about people suffering, Michael. What should we be concentrating on over the next couple of days? It's feels like Joe Biden needs to get more of an economic message out there. Actually, Biden probably needs to publicize it Joe Biden. If you look on their website has a very extensive economic plan that. Involves taxes infrastructure Various Pandemic Recovery ideas and Donald Trump and I'm not saying this to be part of Donald Trump has nothing. If you go to his website, there are literally no proposals for a second term and so it's kind of hard to know. what he would do and Biden perhaps wants to make that case a little bit more Donald Trump talked today about. Biden plans but if you notice it in his speech, he didn't say what he would do. He talked a lot about how bad the Biden and the Democrat tar and that's one of the problems people have suggested that we're seeing with trump's poll numbers is that at this point he is. Talking, about the previous four years and a lot of people didn't like what happened in the previous four years outside of the tax cut. and. He's not talking about what happens in the next four years or even in the next year and that makes it hard to make a case for your election. Yeah, it's a it's a phenomenal time and a lot of people pointing out now that if we don't get something before the election, it's going to be January. Before we're able to do more stimulus Michael thank you really appreciate your input and listening to that for us with Michael McKee. International airports, and policy. Correspondent.

President Trump Joe Biden Nancy Pelosi Michael Senate Donald Trump Michael Mckee New York Wolf Blitzer Nancy Pelosi Economic Club Of Florida Obama Administration O'neill David Rudenstine Michael Danny Disney
TikTok: Oracle confirms being picked by Bytedance to be app's partner

P&L With Pimm Fox and Lisa Abramowicz

02:53 min | 11 months ago

TikTok: Oracle confirms being picked by Bytedance to be app's partner

"So the story is that Oracle edged out Microsoft in negotiating for the US operations of China owned tiktok, which is the subsidiary of fight dance. But professor you explain to us exactly what kind of a quote unquote deal this is. remained slightly unclear how Nicole partnership is GONNA be with all recording Tiktok what has been clear right now is Microsoft historically all over the past few days when thinking about acquiring talk and make say for us user and possibly they need to open the Al Gore Software Code and make it much more transparent going forward and in the end is dance to own of Tiktok say no to Microsoft and you know way that the panicle partnerships probably. Keep, paying what alcohol? I'll go behind stay intact and trying to appease to government at the same time. So, professor what was the political? Overhang of this deal or the political influence of this deal from your perspective. I mean, this is a big major development in the sense that for the first time Guffman are really adding on acting on an ad hoc basis. So starting from the trump administration, all of these executive orders, there was no industry consultation. There is no independent inquiry, per se and then after all the Chinese. Guffman, at the same time, we're basically saying you know by dance, you cannot export any software code in the name off you know national security I'm the ramifications, the following that businesses find it really really difficult going forward to plan ahead WHAT IS LONGTIME R&D or product sales and marketing given all of these becomes much more of an ad hoc basis. In, your estimation is oracle the right kind of company to be doing this. In, the world is kind of strange because if you think of all records historically really be to become Canadian sales database services, it doesn't really have a large B. Two C. market as a result of know how they have would be audibly much less than Microsoft ways running xboxes or these game, and of course, the to see market is huge and sort. Of the technical ability around is also amazing to however have you thinking about Tiktok probably one of the biggest worry is one's a gone through. You potentially go through with they completely lose their independence from that angle and Oracle potentially becomes much more attractive than smaller than know how round to market is much less and quite frankly they are not very strong imbuing. So from that angle, it's not surprising that tiktok would actually prefer a week up partner in this case Oracle.

Microsoft Oracle Tiktok Guffman Professor United States Nicole Executive China Partner
U.S. Initial Unemployment Benefits Steady at 1.5 Million in June

P&L With Pimm Fox and Lisa Abramowicz

00:43 sec | 1 year ago

U.S. Initial Unemployment Benefits Steady at 1.5 Million in June

"Of course, not such a pretty picture weekly jobless claims coming in today they did full, but still coming in at one, million, four, hundred, eighty, thousand initial jobless claims that was down from one point, five, four million, but not a big of a drop as economists had estimated Paulie insured unemployment rate falling as well but to thirteen point. Point four percent mean it's a massive massive number. No doubt Labor Secretary will suggest that would have been even more massive. Were it not for everything that the government did, but it's it's very hard to to look at those numbers and not feel like there's a big problem there. The really is I think one of our guests earlier mentioned that it was. You know fourteen weeks into this. We're still having these types of number. Let's

Paulie Secretary
Troubled Water: What's Wrong with What We Drink

P&L With Pimm Fox and Lisa Abramowicz

07:54 min | 1 year ago

Troubled Water: What's Wrong with What We Drink

"Be Wary of water. Joining joining us now is set to seek all. He has authored activist. Member of the Council of Foreign Relations guest curators interactive brokers studios. He is the author of a new book. DOC troubled water. What's wrong with what we drink? I want to talk to you about the book at about the sort of larger concept here and and you said right before we went on air. I'm not here to scare anybody at yet what I was reading through your materials. It's a little bit unnerving to think that a lot of the water that people drink it's not just flint Michigan it's contaminated that's correct almost everywhere in America there are contaminants in our drinking water and this is probably the largest unspoken of public health threat or menace in the United States. There's a large number of different chemicals that get into our systems through our drinking water that are having unknown effects on our bodies on our endocrine systems as technical phrase that affects growth attention spans sexual interest for Tilleke as well as the possibility of cancer. Some of those things are already proven scientifically and some are now in the process of being investigated but I would argue that being investigated aggressively enough by the EPA an organization that whether it's a democratic or Republican president or Congress is unfortunately inactive who've were not active enough in pursuing what we need to have pursued to get the best health profile for all Americans all right so we don't have the best water what needs to change within the US to improve the quality of our water. Well first of all there aren't nearly there. Were about one hundred thousand chemicals that are in commerce in the United States. Maybe more and you would think that seventy eighty percent of them ninety percent of them would be under some type of investigational regulation by the EPA because some significant percentage of them get into our drinking water and some percentage of those have have a act on our health but of that hundred thousand chemicals that are in commerce. The United States. It sounds hard to believe this. But it's true. Only seventy seven zero are being regulated by the EPA for drinking water purposes and is shocking as that low number is even more shocking given how much chemicals used daily life in America even more shocking is the fact that the last S. time the EPA regulated any chemical whatsoever or any contaminant whatsoever was twenty three years ago they have been inactive for generation and longer and that is putting our health at risk. Is there any map of where we can and can't drink water. We'll tell me where you live and I'll let you know. Okay I'll give you my address after this Seriously I mean it's anyone tracking or tried to do this scientifically we'll actually. There's an organization called the environmental working group. We're on their website. You Can Punch in your zip code and and they can tell you under the federally filed documents but each utility what contaminants have been found in that ZIP codes water whether or not that's particular to your. We're particular TAP LISA. I can't say for sure but invite me over for lunch and I'll bring my test okay. Great all right so water filtration plants. I I thought that was the answer you would think so the problem the problem Paul is both on the wastewater side and on the water filtration. which the way they distribute the water order to our homes from on both sides using technologies that are about one hundred or more years old and although in the interim place have been rebuilt and they're pretty nice parking lots some beautiful reception areas? The truth is that the technology is being used never grew up along with the time that America became. We'll highly medical society where now one one of where seventy percent of all Americans twelve and overtake at least one pharmaceutical product today to people to people about twenty percent of Americans twelve and overtake take five or more prescription pills day and that all gets into our water stream on the inbound side. We still do. We did one hundred. Plus years ago to get rid of cholera and dysentery and typhoid Loyd. Fever we put a dot of chlorine or chlorine like product in it to to cleanse the water. But we don't do anything to remove from that water. These pharmaceutical pharmaceutical residues and other chemicals that have found their way into our water stream such that occupy one example of many that are in my book troubled water just one they scientists independent independent scientists with no axe to grind when ahead in the Great Lakes vast amount of water so be diluted like crazy with think she tested fish and all five of the Great Lakes and an all five live with a great lakes. She founded their brains and their organs and their muscle. She found residues of all kinds of psychiatric medicines like solo often SELECTA and fourteen other medications medications. Now if that's going there that water is then being sent back to our homes for us to drink and we are getting that dosages back in micro quantities and we're getting that magnified amounts also for eating the fish. I'm just trying I'm going through these scrap extrapolation getting increasingly concerned. I'm just wondering. How normal is this with other countries says well they're just sort of this problem globally or is the US particularly bad the more the more industrialized the more industrialized society is the more likely you are to have these problems now? There are some countries particularly Israel in Singapore that have very aggressive systems for purifying the water for reasons unrelated to Necessarily health reasons but it's really for water scarcity reasons. They have a reason to do this. And there are some parts the United States and I talk about in a Chapter Orange County California which has made a decision to basically cle- ignore the EPA guidelines. Go Way above it and they demonstrate the fact that using known technologies at very reasonable prices you can have the safest drinking water. Possibly the pure water you'd think that Zoloft PROZAC or something. Everybody happy a little bit happier. Exactly so seth so private versus public water utilities. Tell us that the compare and contrast there okay so this was a piece that I wrote the other day for the Wall Street Journal and I want to. I want to highlight something that is completely unknown. Fact in American life even when I talked to members of Congress and the senators they have no idea. There's the case you would think rationally speaking fifty states. Oh maybe every state should have at least one and what are you telling maybe two maybe three so maybe there should be three hundred four hundred maybe five hundred. What are you toys United States tops? Even though you could say that when you could cover several states we have in the United States over fifty thousand. What are utilities one county Los Angeles County has two hundred separate water utilities? These are very tiny. They have no ability to have the financial wherewithal in order to get the financing that they need to make sure that they can in higher up to date Up that they can buy up-to-date technologies hire the most advanced scientists and engineers and also fix their broken infrastructure. Is Crazy Risi just real quick here. Who has the interest of keeping all of these smaller utilities open for utilities? Okay so no one of the Public Lisa. Nobody in the public should the second thing that this is a good idea. And it isn't a good idea. That's why one of the main thrust of my book talking about Public Health. Water is to say four big takeaways from my book. One of which is we must consolidate our drinking water utilities and by the way I a second point that I made in the journal Article is that it turns out that about fifteen percent of American. Utilities are in private hands which is investor owned hands whether they're public companies or private companies remarkably digging deep into EPA A health data which a couple of professors have done. You learn something remarkable. which is that although you would think that public utilities have the public's interest in mind actually we there's a much higher incidence of contaminated water in public utilities? And the reason for that is because mayors want to keep the price low and therefore the don't get the Outcomes you want set Siegel. Thanks for joining fascinating. Discussion set Siegel activist author member of the Council foreign relations author troubled water. What's wrong with with what we drink? That's coming October. I also author of let there be water. Israel solution for water start starved world. I am very interested in that Tom. Freidman near Times op-ed today on that the topic using the work of seth very

United States EPA America Great Lakes Congress Council Of Foreign Relations Seth Israel Interactive Brokers Siegel Wall Street Journal Typhoid Tilleke Michigan Public Lisa Singapore Los Angeles County Paul
Trump announces tariffs on metal imports from Brazil and Argentina

P&L With Pimm Fox and Lisa Abramowicz

00:10 sec | 1 year ago

Trump announces tariffs on metal imports from Brazil and Argentina

"The day started with some tweets from President trump saying that he planned to re implement some tariffs tariffs on Argentina and Brazil having to do with steel as a result of their devaluing their

Donald Trump Argentina President Trump Brazil
Discount-broker stocks losing further ground in wake of Schwab commission news

P&L With Pimm Fox and Lisa Abramowicz

04:02 min | 1 year ago

Discount-broker stocks losing further ground in wake of Schwab commission news

"Let's switch gears though sticking with Wall Street and talk about Broker Commissions Today Day this morning there was news that Charles Schwab is eliminating commissions for stocks. ETF's and options listed on U S or Canadian exchanges the race as to the bottom accelerates David Ritter payments specialty finance analysts for a Bloomberg intelligence joining us from Princeton New Jersey David. What do you make the news well. It's been something that's been a long time coming. I mean obviously fee compression brokerage in an asset management more broadly is nothing new. I mean interactive brokers made their own own move last week to cut commissions two zero for basic stock trades so I think it it's going to have the very different impact on the different players players in the market and Schwab's case you know they only earned about fifteen percent of their net revenue from trading commissions verses e-trade and td Ameritrade where it's more than thirty five percent. I think you're seeing that reflected in the action this morning but but Schwab is really more an asset gather than anything and and so I see this move for them as a recognition of the fact that you know we don't WanNa lose customers and assets in the long term to these new stock doc trading apps whether it be Robin Hood or whether it be J. P. Morgan is you invest because that's how they make money they make money on new net new assets coming into the company and then you know sixty percent of their revenue is net interest income so they're essentially a bank right so they're paying low interest and Dan reinvesting that money and save security so that's the real driver not trading commissions. It's interesting look at the stocks mention Dave Schwab down nine percent. Td Ameritrade down about about twenty two percent today an e. trade down eighteen percent so kind of right in line with what you were saying and my question is kind of talked to us about some of these new technological competitors offers that you mentioned kind of robinhood and things like that gives a sense of what they are and what kind of market share they taking yeah well in the case of robinhood. You Know Very Rapid Growth Bruce Company several million customers already offering quote unquote free trade what underrecognized though is Nothing's free a write in the case of all of these retail brokers that charge the customer Azero trading fee. They're sending those traits to market maker so companies like citadel citadel and they're getting paid. What's called payment for order flow for those transactions so in their released last week. Interactive brokers was very candid they they said well you know this is how we get paid and if you still want best best execution you can take our four. Fi product instead of our free reprised so I just thought that was an interesting way to to approach it but you know certainly these things are having an impact and for Schwab. They finally said to themselves look we. WE DON'T WANNA lose these customers 'cause they're young people right so they're really the future drivers of their growth right now. Looking at Schwab shares down now more than nine percent so shareholders aren't buying it. Yeah I mean I think for both of them. When I described a minute ago what percentage of revenue they get from trading trading commissions I think the market is pricing in perhaps half of that revenue going away. It's interesting because the last round of price cuts was a couple years ago. Oh Fidelity sorta kicked it off by going to four ninety five trade and Schwab matched them what happened across the entire industry was fascinating is that the net inflows to the the companies and the trading volumes increased so it actually drew in more customers and so again I think that's Schwab's rationale here is we're trying trying to remove any impediment to folks either getting more active or becoming active in the markets for the very first time and then going going forward into the future so not sure. We'll see exactly that again this time but that's what we saw last time.

Charles Schwab Schwab Interactive Brokers Td Ameritrade Princeton New Jersey David Ritter Bloomberg Growth Bruce Company Robin Hood J. P. Morgan DAN Nine Percent Thirty Five Percent Twenty Two Percent Eighteen Percent Fifteen Percent Sixty Percent
Index of U.S. leading economic indicators climbs for July

P&L With Pimm Fox and Lisa Abramowicz

05:56 min | 2 years ago

Index of U.S. leading economic indicators climbs for July

"Today's july conference board leading economic index which actually came out positive and more positive than people had expected here to talk about. It is bart van ark. He is the conference board's chief economist joining us but i just want to get started with the numbers. What exactly did we see in july well. It's a pretty broad based improvement actually into numbers so <hes> particular helps. Here's housing permits have picked up a fair bit. An employment insurance earns claims have gone down which was mentioned just earlier stock prices in july. Were okay not an artist of course when you're either leading credit index okay. There are few downsides you know for example komo. Ida is an index has been down july. That's being continued but if you balance it all out it was actually somewhat stronger improvement. We had expected and i think what's very important. It's not just one month. You've also are six months average has improved quite a bit and he's sort of back on track about open eight percent growth so the expansion just seems to extend a bit further. It's interesting the <hes> <hes> some of the data your data today some of the p._m. Data at it. I think we're just thinking back to some of the retailers that reported this week. You know just kind of reinforcing this narrative that at the consumers generally pretty strong there but let's flip to the manufacture and that seventy percent of the u._s. economy but that thirty percent manufacturing side showed some signs this continued show signs of weakness and we certainly have seen some weaker numbers out of europe including germany so kind of what are you seeing on a manufacturing front yeah so the manufacturing psycho still very weak issue say dire highly highly dependent on what's happening in the rest of the global economy over germany was u._k. Japan significant parts of asia are week so that's why we expected. Industrial cycle will continue to be downbeat on this whole story but you're saying the u._s. It's the consumer which really matters as long as the labor market remained strong continue to see some increases. I think will pull us along for a while. How much of the increase in the unexpectedly large increase in this leading the economic indicator index is due to lower rates and the idea that the fed was going to cut rates more than people had previously expected earlier in the year yeah. I think it's a little bit early to expect that to change in tune of the federal reserve has already playing out into the numbers etc confidence site so i think on the confidence site right we will. I think it has helped consumers to hear the story that there's you know lower rates and that helps them. A little bit is the only thing is about housing. You did see an improvement in housing in your there was an improvement in some of the credit metrics which have to do with also lower rates makes it easier to borrow and refinance and as well as equities right that's and part of one of the one of the factors in the index so all of those things were sort of supported and i'm just wondering how much of a boost that is. I think the mortgage rates are by far the most important in here and that of course because that's where you will see these long rates putting putting through into the mortgage rates becoming lower so i think that's why did housing permits number comes nice offer for housing indicators that those all look pretty well so i think the housing market is a very important part of this action so it's interesting the lot of talk kind of growing talk a with the better recession in the economy. Maybe you know i guess in the beginning of the year. People can omid twenty twenty now. Maybe push the late twenty twenty two twenty twenty one but i guess what what what is your data showing you as and what are your thoughts about pending recession given just how far we are in the cycle of i would say i mean despite i today's good number which were very happy about we still believe that economies on a nice edge and <hes> so default scenario is a gradual slowdown of the u._s. Economy me too about two percent for the remainder of this year which is slower than it was last year and the average to beginning of this year and into next year we'll be around two percentage wise as the underlying the long term growth rate of economies who are more at trend but there is a down a potential risk of course a very very high and again to consumer media metrics here. There's a lot of uncertainty and economy. The consumer seems to be okay with it. I mean you all the news comes in and goes out in everyday changed on balanced. I think it's kind of okay but if any of these uncertainties rhetoric is brexit or the trade trade disputes or hong kong is turning into a big shock to the consumer could pull back and that would be the alternative scenario of much faster slow down so you say that even even though this is positive you think that the economy is on a knife's edge. What in the numbers is giving you that sense. Well i think in numbers there are still as as we have seen in. Today's numbers vary a little but the underlying economic fundamentals have been weakening. You know i mean we're we've been gradually slowing down to this trend growth of the economy yesterday. There's still strong but we're adding fewer jobs but activity is going up but it's not going very rapidly so if you add all these factors up and the u._s. economy is not gaining team where just extending the expansion and that puts the economy at a nice edge because if there's a negative shock in the economy you can very quickly get into trouble but again. It's an alternative scenario r._e._o. Probabilities on the default of about two percent growth and are you expecting any kind of trade deal done before the election or you. Is your base case assuming now well. The question is what what exactly is a trade deal. I think both the u._s. And china want to get to some kind of agreement because his beckon thorvald not agreeing on anything not helpful to question is what is the nature of that agreement and most important thing of course is to get these terrace of the table or at least a fred of tariffs and gradually pulled them back better we will have more fundamental agreement which deals with intellectual property not and technology and and fern direct investment arrangements. I think that's probably something that will take more time bart van. Thank you so much for joining us part dizzy chief economist for the conference conference board. Thanks for listening to the bloomberg pl podcast you can subscribe and listen to interviews at apple podcasts or whatever podcast platform you prefer on paul sweeney. I'm on twitter at p._t. D._t. sweeney and lisa abramowicz on twitter at lisa abramowicz one before the podcast. You can always catch us worldwide on bloomberg radio.

Chief Economist Twitter Germany Paul Sweeney Lisa Abramowicz Bloomberg Bart Van Hong Kong China IDA Europe Asia Omid Twenty Twenty Japan Apple Two Percent
DERM Stock Up 100% After Dermira Announces Positive Trial Results

P&L With Pimm Fox and Lisa Abramowicz

00:43 sec | 2 years ago

DERM Stock Up 100% After Dermira Announces Positive Trial Results

Big Oil Companies Finished 2018 Strong Despite Plunge in Oil Prices

P&L With Pimm Fox and Lisa Abramowicz

06:24 min | 2 years ago

Big Oil Companies Finished 2018 Strong Despite Plunge in Oil Prices

Bristol-Myers bulks up cancer portfolio with $74 billion Celgene deal

Bloomberg Surveillance

01:22 min | 2 years ago

Bristol-Myers bulks up cancer portfolio with $74 billion Celgene deal

"Dismissed or quit depending on whose version of events. You follow? Officially Tom dependent gone will continue to do what it always does. It will stand on a wall on defend this country to the Admiral Stavridis, some what if you could just sort of use your navel and strategic background in the context of China and a book that you have recommended called on desperate ground, and what we should take away from reading this book by Hampton sides about China and understanding them, not only from a military and trade perspective. But from a political and cultural perspective. Yeah, terrific question. The book is about the Korean war, and it's a cautionary tale for modern times. Right. In other words, we know what? War on the Korean peninsula, would look like hundreds of thousands if not millions dead that was before there were nuclear weapons involved. So a we ought to take the cautionary message and be we ought to. Remember when China's back was pushed to the wall by MacArthur with US troops surging north. They responded they responded hard. They pushed us all the way back down that peninsula. We should not underestimate China's will in a military conflict. So I wouldn't say we're quite on desperate ground yet between the US and China, but skirmishes lead to wars we need to be very cautious and careful in how we deal with China. So what is the scuttle butt among your colleagues and other officials in an outside of the military about the future of the United States role in the Pacific. We need to remain engaged to walk away from the Pacific takes away from the economic engine of the earth on the other hand, we have got to find a modus Vivendi with China, and I'm particularly concerned this week with the exchange of messages, if you will between president gee of China and president sigh of Taiwan in their New Year's messages. They went back and forth about unification that could be a real flash point in twenty nineteen. That's been relatively quiet over the last decade. I, of course, identified you Fletcher school. And of course, you exited tufts and Fletcher school here after five years herding cats known as a faculty, and I would love to know within the vogue of international relations. What was your biggest surprise for students within the international relations after five years? It's Fletcher it is so in now to do international relations. What's your message to students undergraduates graduates, and their parents who want to pursue are? Number one by far is that international relations gives you an opportunity to serve to serve your country eventually in the military, but in the diplomatic core at the Central Intelligence Agency. In international business is a form of service engaging globally provide service to the world, and I'll close by saying our students focused in particular, Tom on his shoes of equality, globally and the environment, and it's very idealistic space for students to be in. And I think is a very powerful one in today's world. Thank you so much greatly. Appreciate it writing for Bloomberg opinion as well. Former NATO supreme allied commander as well. I thought his insight there on Taiwan is fallen beneath radar. That's over though. It's on a lot of people's radio. But within the markets that we folk. Focus on that was really suggested a geography lesson to get out and just start plotting the actual distance between China Taiwan and South Korea and North Korea and Japan. It looks a lot smaller than the Gulf of Mexico, and I talk about book here. Please my book of the summer, folks. Robert Kaplan, Robert d Kaplan, the return Markle's polo world, and if you're really motivated, his previous book Asian cauldron is about the geography, Mr Fox just talks about how can we think about these issues? If maybe we know the map, but even better if we actually understand the distances between these different countries and putting you're so right about that difference between Formosa from another time and place in China as well futures a negative twenty four Dow futures negative to thirty eight the yen one oh, seven seventy four. Now, let's go to Mr Michael Barr and find out what's happening in the world. Mr var. Thank you, ma'am. Thank you, Tom. The new members of congress will be sworn in today. Democrats will take back control of the house while the Republican majority in the Senate grows by two in total. One hundred twenty seven women were served in the one hundred sixteenth congress being sworn in today. Do members include several I such as the first two Muslim women from Michigan and Minnesota they'll take the oath of office on a Koran that belonged to Thomas Jefferson. We'll also see the first native American women and the first African American women from several states US ambassador met with Paul. We learn the American arrested in Russia accused of espionage wheelin, a former US marine is being held in one of Russia's most notorious prisons global news twenty four hours a day on air and then tick tock on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm Michael Barr. This is Bloomberg com. Kabar? Thank you so much again futures negative twenty four Dow futures negative to forty three lifted yields off yesterday to sixty four in the ten year thirty year bonds still under three percent two nine six percent. This is Bloomberg. Imagine the markets in focus every business day, P and L podcast with Pimm FOX and Lisa Abramowicz stock has not reacting happily. What's behind this engine of gains today analysis of the day's Wall Street action from Bloomberg intelligence, Bloomberg opinion, and influential news banker spill roads is the author of banker to the world wars McCarthy joins us right now with Pimm FOX and Lisa Abramowicz. Listen today on Bloomberg com. The Bloomberg business Atmore subscribe on apple podcasts. So we're kids play. Many provide the water we drink, but

China Bloomberg United States TOM Pimm Fox Mr Michael Barr Taiwan Fletcher School China Taiwan Admiral Stavridis Pacific Central Intelligence Agency Fletcher Congress Mexico Vivendi President Trump
U.S. budget deficit widens to $100 billion in October

P&L With Pimm Fox and Lisa Abramowicz

02:07 min | 2 years ago

U.S. budget deficit widens to $100 billion in October

"The topic now is deficits budget deficits when it comes to the federal government here to tell us more as I rejoice he is chief US interest rates strategist for Bloomberg intelligence IRA you have dubbed this deficit day, emberg heaven shoe. Yeah. So so both myself and our colleagues at Bloomberg economics focused on the deficit today. And some reports we put out, and and you know, we took two different angles. So my colleague and Bloomberg economics stink that maybe the government's own estimate of what the is going to be could be as wrong as one hundred and sixty billion dollars in the twenty twenty fiscal year. And I think that you know, that's meaningful. Obviously for what I do. Because that means that the treasury department might have to issue, you know, an an extra fifteen billion dollars a month of debt that maybe we, you know, some people don't have in their forecasts right now. Okay. If they don't have it in their forecast to they have the money in their piggy Bank in order to buy all that. Yeah. Well, that's one of the questions is at what point do people book and say, you know, deficits are too big. So normally, it's a, you know, when you have growing deficits as long as the deficit is growing somewhere around the the the level of nominal GDP growth. It's not really that much of an issue because you that means that the, you know, the entire economies growing you can fund the deficits because you have higher income. You have part of that income is going to be saved and and corporations even need, you know, to fund pensions and other things like that. So there's there's money coming in. But the the thing is is at at this point at least for the next several years. You're not like to see that you're like the deficits growing faster than the level of nominal GDP growth. And that's where you can get challenged. And that's why you need foreign investors, for example, to at least make up a little bit of the shortfall from domestic investors in and you haven't seen that the last five years foreign investors have. I've not been not been buying US debt on a net basis. So that there's some very large holders, but they haven't been buying more debt than than they had say in two thousand eight nine

Bloomberg Bloomberg Economics Federal Government United States Piggy Bank Treasury Department Fifteen Billion Dollars Sixty Billion Dollars Five Years
"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

01:59 min | 2 years ago

"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"For and looking for a good owner who is looking for a lifestyle hotel. Someone that's going to bring the community into the property and believes in the concepts that we're doing a point to you money raising money do find that people are throwing money at this industry because it has become such a glamorous part of lifestyle or is business. Everything comes down to business. You may have a a high net worth individual just doesn't vanity play here or there. But there's not a lot of that out there. So yeah, it comes down to business, and you've got to be able to get him financed wasn't very easy for us early. People don't know how brands but as we're growing. Now, it's becoming a little easier. But it depends on the flow of how lenders are a lending less point to you having to do with travel is where you seeing outsized interest in new tourism is it in these tertiary and secondary markets. You know, I think there's tourism everywhere. And they're always was it was interesting in great cities. And it was interesting. Little quirky towns that had something special about them. I think the difference. Now, people are taking advantage of those little quirky things. They have if they're known for some great food item. Or a unique experience that you can do there. You know, people wanted to take advantage is you as you know, everybody's talking about experiences and experiences. So it's not just the hotel. It's it's you wanna travel. You wanna go see things, and there's a lot to see around this country and around the globe, and people are curious as ever, and I think our industry has a long way to go. Thanks very much, Jay Stein. He is the chief executive of dream hotel group. Thanks for listening to the Bloomberg PNL podcast. You can subscribe. And listen to interviews at apple podcasts. Soundcloud, or whatever podcast platform, you prefer. I'm Pimm FOX. I'm on Twitter at.

chief executive Pimm FOX Twitter Bloomberg apple
"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

02:12 min | 2 years ago

"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Prices. One investor actually emailed me today and said affordable housing is one of his top concerns, and he's based in Georgia. So he's talking about other communities, but that just gives you an idea of how important audible housing is from credit perspective. So just overall taking a step back G. Is it just hard to generalize? When it comes to his fallacies acting or voters voting on things that are good for the bottom line or bad for the bottom line. It's just sort of look how by yeah. I mean, the thing that's kind of struck me. This year is just on infrastructure. It's a really really complicated years. So you're seeing people be more bullish on infrastructure policies federally, but on the local level with this Colorado measure failing and the big California measure failing. We've also seen voters in Missouri. And Utah reject gas tax increases, it's really really hard to generalize about how people are feeling about infrastructure. It might have something to do with the way that the the measures were advertised. Them on TV, or you know, how the measures were written on ballots, but it's kind of fascinating the way that there are these nuances between different communities and just quickly. There were a couple ballot initiatives changing state laws having to do with whether they were going to increase taxes, right? Yeah. That affected my home state of North Carolina. So voters their greed to cap the maximum possible personal income tax rate North Carolina's at extremely low tax state. It's triple A's. So this isn't going to change their credit rating. But if there is a rec- recession scenario a lot of liberal groups in the state were a little bit worried about that in Florida, they passed a super majority requirement on tax hikes. Again, Florida's AAA so not necessarily a credit rating changer, but definitely something that could crop up later on down the line and create pressures. Well, Amanda, we're gonna let you go get some rest because I understand you were here all night. So thank you a million times over for your coverage on all levels. Amanda Albright star Muny reporter for. For Bloomberg news joining us here in our eleven three os studios. Thanks for listening to the Bloomberg PNL podcast. You can subscribe. And listen to interviews at apple podcasts. Soundcloud, or whatever podcast platform, you prefer. I'm Pimm FOX. I'm on Twitter.

Amanda Albright Bloomberg North Carolina Florida Pimm FOX Georgia Missouri apple California Utah Colorado reporter
Trump seeks to base Medicare drug prices on lower overseas rates

P&L With Pimm Fox and Lisa Abramowicz

07:51 min | 2 years ago

Trump seeks to base Medicare drug prices on lower overseas rates

"Just half the country and just part B medicines for the national price index. But since those prices are so much lower. If you actually follow through with this index prices in the United States will come down for for seniors. And you know, it's sort of a curious way to go about it in that we're sort of importing the sort of price controls and restrictions that we, you know, the the the administration has said it previously doesn't like just kind of doing a backward way, a backdoor way of of importing them. So so it's interesting way to go about it. But it should actually bring down price mostly because you know, theoretically drugmakers could raise the prices elsewhere, that's sort of the angle that the administration is going with to sort of explain ideologically, what seems like a sort of in congress move from them. Basically, they're saying, you know, we're they're freeloading off of us were paying for the innovation and they're benefiting from us. But it's it's not so easy. As to go to the UK and say. Hey, we're raising the price the UK can just say, we'll know they've proven themselves willing to do that. So. Yeah, that's why I do think the price will actually come down here. If this goes because I had all right? Well, let's just office. I'll offer some examples and get your thoughts on this the price of a vast in which is a cancer drug in the United States. You're going to end up paying about four thousand dollars for vast in Switzerland, you pay unto two grand in Spain. You're paying about fifteen hundred and you mentioned the United Kingdom you paying about five hundred dollars for the same drug Harv Oni, which is the hep C drug. You're paying like thirty five thousand dollars in the United States. And in Switzerland. You're paying sixteen seventeen thousand weight of those numbers come from who sets that price. It's the drug maker. And it's all within the context of a different system. Like, you know that that her Volney? After discounts in the commercial arket is probably a little bit lower. But is actually a really good example here it is a biologic I administered in doctor's offices so apart beat drought. And when it's used for cancer patients, so one that has a lot of Medicare reimbursement. And in this case, it a part of it is just that these healthcare systems are willing to play hardball, negotiate. They negotiate on behalf of the entire country, in many cases, as opposed to kind of the piecemeal way, we do that. And also the other thing is that there's more robust bio-similar competition in other countries they've been quicker about. Getting competition to the market for these expensive drugs. So we're hoping to sort of both import that aggressive negotiation and the more aggressive competition for biologics these markets. I want to go to something that you hinted at which you said that if this gets implemented, and it's a very big f and we could talk about it till let's talk about it. Why is it such a sort of longshot? It sounds like you. So one thing that this is reminiscent of two people that have been following drug prices for a long time is a similar CMS demonstration by the Obama administration that also tried to move physician reimbursement to a flat fee and implement a variety of reference pricing though, though, a different one in many ways, it was actually a milder proposal, but it was absolutely ripped to shreds, by the far mind physician lobby and Republican lawmakers. This is really interesting. In other words, they're taking a page from the Obama administration in crafting this proposal. Republican congressmen were not in favor of this. Now, President Trump is proposing it wouldn't it potentially have a greater chance of getting through because there is more likely to be Republicans support for it, given President Trump's leadership or do you think that that's still it's not enough to sort of get this pushed through it's it's pretty unclear in. It'll it'll take some time for that to play out. But so far I'm thinking of a statement that that Orrin Hatch made the Senator from Utah. It was to to call it tepid would be would be exaggerating a little bit, you know. So it's just sort of an awkward and a little bit out of character proposal for Republicans to support and time will tell whether the Trump effect, you know, the kind of move towards the populist will lead them to support something that they they vehemently oppose. Another version of in the past max, the United States has no government panel that negotiates drug prices. Correct. That's correct. It's all left, for example in Medicare Part d two private plans, and it part B part. It's just kind of left up to the drugmaker supposedly, there's not much negotiation. At all does that make any sense. You know? Government is footing the Bill, it's basically, you know, leading one of the world's largest purchasers of healthcare services, and tossing one of the biggest benefits of that. Which is a huge amount of negotiating power tossing it by the wayside. And instead of using that going by this very complicated back door in poor taste of other people's negotiating power for part of the market. So get that would one would think that the Lor of impactful proposal would be to just use that negotiating power. But that appears to still be off the table. Thanks very much for being with us. Max Niessen is always an expert when it comes to all things healthcare, Bloomberg opinion columns covering the healthcare industry. You're listening to Bloomberg markets. Let's just say that the s&p five hundred has fallen ten percent from its all time high. Also CNN is reporting that authorities have arrested a man in Florida in the explosives package case. We'll keep you posted. This is

United States Obama Administration Switzerland Bloomberg President Trump UK Congress United Kingdom Max Niessen Orrin Hatch CNN Harv Oni Spain Cancer Medicare Utah Senator Florida
US, Chief Lending Officer and Bloomberg discussed on Bloomberg Markets

Bloomberg Markets

00:17 sec | 3 years ago

US, Chief Lending Officer and Bloomberg discussed on Bloomberg Markets

"Thirty twenty pot. Stocks continue to move higher after Aurora cannabis reaches a deal to acquire South America focused. I make that ICC labs Inc. That's a Bloomberg business flash. I'm Greg Jarrett. You're

United States Chief Lending Officer Bloomberg Td Bank Lisa Abramowicz Russia CVS Cannabis Greg Jarrett Icc Labs Inc Federal Reserve Pimm Fox Michel Barnier Carolinas South America Twitter President Trump Les Moonves Cashflows DR
Tesla's Musk smokes marijuana on comedy podcast

Bloomberg Markets

00:30 sec | 3 years ago

Tesla's Musk smokes marijuana on comedy podcast

"Bloomberg markets with Pimm FOX and Lisa Abramowicz on Bloomberg radio. Elon Musk is having a bad morning. This comes after video marches of heaven taking a puff of a marijuana laced cigar on a comedy podcast that he was on. That's not all though also to senior executives both stepping down including the head of HR as well. As the chief accounting officer, not

Tesla Chief Accounting Officer Elon Musk Bloomberg Marijuana Gordon Johnson Gordon Chief Executive Officer CEO Gordon Johnston Managing Director Analyst Pimm Fox New York ELI Jaguar Lisa Abramowicz John Tron
Bloomberg, President and United States discussed on Kevin and Bean

Kevin and Bean

00:18 sec | 3 years ago

Bloomberg, President and United States discussed on Kevin and Bean

"It just don't know when it's going to blow up in Greeley about making money in the sense that many people think investment, I fear that we are starting a multi decade bear market in bonds. For more volatility in the markets. Probably maybe a healthy thing. Bloomberg surveillance. We've John and Pimm FOX on Bloomberg

Bloomberg President Trump United States Tesla Pimm Fox Margaret Brennan Dave Wilson Bloomberg Mr John Tucker Washington Tim Armstrong Lisa Abramowicz Margaret Brett Kavanagh Nafta CEO New York Times Tom Keene Jared Kushner
Canada and US expected to reach a new NAFTA deal by Friday deadline — MercoPress

Fresh Air

00:19 sec | 3 years ago

Canada and US expected to reach a new NAFTA deal by Friday deadline — MercoPress

"President Trump has decided to maintain the current levels of, tariffs, on imported steel and aluminum products on national security grounds this is a twenty five. Percent tariff on steel ten percent on aluminum even so the president is also allowing some product exclusions for South Korea, Argentina and,

United States Mexico Bloomberg Canada New York President Trump Representative Donald Trump Us Tr Bloomberg World Pimm Fox Tom Keene Ford Argentina Miriam Schapiro ASX Doug Krizner York Nasa
"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

01:53 min | 3 years ago

"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Doc to chin you're also working on some molecular some biologic molecular candidates and what if you could just tell us about the pipeline some antibodies for indication such as dermatitis in dogs and canine absolutely so we have a brought pipeline of monoclonal antibody and monoclonal antibodies are cutting edge medicine on the human side as well in fact seventy eight out of the top ten selling drugs on the human side are monoclonal antibody transformed human medicine we'll be tried to do is we try to bring not the sort of mediocre drugs a throwaway drugs from the human side over threaten their side we're trying to bring the best of the best technology so we have a broad pipeline of antibodies including antibodies for the topic thurman titus which is xm a allergic skin condition in dogs that's very common right now it's over a five million dollar a year market and it's growing very rapidly it only cost us about five to eight million dollars to develop each one of our drugs so we'd like to compare it to the human side and on the human side it might cost a billion dollars to drove to develop drug and blockbuster might be a billion dollars because we're going to have to leave it there thank you so much being with us dr richardson president and chief executive officer of kindred biosciences in san francisco thanks for listening to the bloomberg peon l podcast you can subscribe and listen to interviews at apple podcasts soundcloud or whatever podcast platform you prefer i'm pimm fox i'm on twitter at pimm fox i'm on twitter at lisa abramowicz one before the podcast you can always catch us worldwide on bloomberg radio.

pimm fox twitter lisa abramowicz thurman xm dr richardson president and chief executive san francisco bloomberg apple billion dollars eight million dollars five million dollar
"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

01:42 min | 3 years ago

"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Welcome to the bloomberg pl podcast i'm pimm fox along with my co host lisa abramowicz each day we bring you the most important note worthy and useful interviews for you and your money whether you're at the grocery store or the trading floor find the bloomberg pnl podcast on apple podcasts soundcloud and bloomberg dot com schrafft's what is rex well here to tell us what shrieks is and why it matters his chris mclean oh he is the chief executive officer and the founder they are based in beverly hills california but he is joining us here in our eleven three oh studios tell us chris thanks for being here i thanks what exactly is sh rex understanding that you know the underlying thing right digital marketing and consumer data distribution management platform but i have no idea what that means so what we do is we aggregate data on specific audiences so we we work in certain verticals and then we aggregate data around those vertical so an example is we're in the consumer packaged good business we aggregate data on people that by certain types of products in big box retailers we aggregate the information about those consumers and then we put into put them into silos and then we sell access to that data back to marketers we do we do similar thing with the medical business we have every doctor in the united states map down to their cellphone to their home computers to their office computers and then we sell access to that data too big pharma companies that want to reach those particular colleges.

pimm fox lisa abramowicz chief executive officer founder united states bloomberg apple chris mclean beverly hills california
"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

01:50 min | 3 years ago

"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"The bonds would not be worth even where they're trading right now those words not pay that you should see the expression until my sex face not i'm not arguing for them to do this i'm just raising sort of the political backdrop that this is coming at repudiation confederate states of america the in twenty fifty and the governor said the debt is not payable and that was the sort of crack of doom so now it's really going to be more of a legal settlement you know i'm not sure you could say well we're going to write it off two zero yes there have been some people who suggest that but as you pointed out if puerto rico is going to have access to the markets raise more capital at some point they have to make some sort of token gesture on the outstanding debt especially the general obligation of casino debt and just to put this in some perspective the federal board that oversees the commonwealth's finances says spending cuts improving tax collections you could end up with a surplus over the next six years of six point seven billion dollars thanks very much joe my sak editor for the bloomberg brief municipal ma markets check it out on briefs go on the bloomberg thanks for listening to the bloomberg peon l podcast you can subscribe and listen to interviews at apple podcasts soundcloud or whatever podcast platform you prefer i'm pimm fox i'm on twitter at pimm fox i'm on twitter at lisa abramowicz one before the podcast you can always catch us worldwide on bloomberg radio.

puerto rico commonwealth editor pimm fox twitter lisa abramowicz joe bloomberg apple seven billion dollars six years
"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

01:36 min | 3 years ago

"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Investors in china i would only point to both european chamber of commerce in american chamber of commerce reports over the past several years that talk about the increasing difficulty of doing business in china these days and while you're right that there was the recent opening of for banks are that came about after the trump she meeting it in fact what i've understood is that this is a little bit too little too late height that there's not that much room at this point for foreign banks to to take on ah you know a bigger share of the chinese market because the chinese have protected it for so long that you know chinese banks dow basically command the banking system so you know i think that's a a challenge that many american companies are going to face at the united states is going to face as it continues to press china to open up more sectors of its economy that in fact china's gonna wait until it really commands those sectors and then say sure we welcome you and of course you're not gonna be able to compete but have at it thank you very much for being with us elizabeth economy cv star senior fellow in director for asia studies at the council of foreign relations she can be followed on twitter liz economy thanks for listening to the bloomberg pml podcast you can subscribe in listened to interviews at apple podcast soundcloud or whatever podcast platform you prefer i'm pimm fox i'm on twitter pimm fox i'm on twitter lisa abramowicz wine before the podcast you can always catch us worldwide on bloomberg radio.

china banking system united states senior fellow director pimm fox european chamber of commerce american chamber of commerce twitter bloomberg apple
"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

01:41 min | 3 years ago

"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Welcome to the bloomberg pno podcast i'm pimm fox along with my cohost lisa abramowicz each day we bring you the most important noteworthy and useful interviews for you and your money whether you're at the grocery store or the trading floor find the bloomberg pno podcast on apple podcast the soundcloud and bloombergcom did did did this is bloomberg markets with pimm fox and lisa abramowicz on bloomberg radio days after recreational puffy came legal in california attorney general jeff sessions had decided to revoke obama era guidance that allowed state two states to actually have legal marijuana markets and here to tell us about this is asher tropy cofounder chief executive of tress capital astra trilby thank you for being with us maybe just tell our listeners what is tress capital and what was your reaction when you heard about this change in the department of justice is treatment of legal marijuana sure thanks temp uh trust capitals a leading strategic venture capital firm dedicated to the cannabis industry founded in two thousand thirteen and we were one of the first institutional great investment platform cannibis uh promoting institutionalization of investment in the kind of the space we have an investment focus uh jefferson diversified global investing with a focus on what we consider infrastructure within the space.

pimm fox apple jeff sessions chief executive marijuana venture capital firm bloomberg lisa abramowicz california attorney obama asher tropy department of justice cannabis
"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

02:12 min | 3 years ago

"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Welcome to the bloomberg pno podcast i'm pimm fox along with my cohost lisa abramowicz each day we bring you the most important noteworthy and useful interviews for you and your money whether you're at the grocery store or the trading floor find the bloomberg pno podcast on apple podcast the soundcloud and bloombergcom two two we're going to take a look at the bond market today focus on fixedincome brought to you by pimp go for investors who demand more than the markets deliver all investments contain risk and may lose value consult your investment professional before investing today is a great day to have ira jersey on the show he is chief us interest rates strategist for bloomberg intelligence and ira before we get to what you're expecting for the year ahead at what we can expect to lead a tomorrow with the fomc meeting minutes i want to talk about the action that we're seeing in the bond market today we're seeing a pretty broad based sell off that seems to be stemming really from the european bond market what do you make of this how much people read into this action it's it's hard always around to holiday periods to read a lot into into things because uh does people either putting on positions are taking off positions that um to to be either risks properly for the year ahead um i i think it is a real i mean it's real in in terms of the idea that um you know people do think that the uh that yields are going to be somewhat higher that the two to tax uh plan was going to help inflation and growth a little bit and and you know it at the same time i think a lot of people were really worried that you know the stock market was going to tank and and uh people going into your and wanted to be a little bit longrepressed just as a hedge to some other risk your assets so uh support this is a big surprise i i think you know we we do have some pretty important technical levels were sitting right out for 10year yield so uh so you know a move up to pass to 50 for example two and two and a half percent would be uh uh potentially mean that we could see last year's highs up but uh round to sixty five.

pimm fox apple interest rates ira stock market bloomberg investment professional 10year
"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

02:12 min | 3 years ago

"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Welcome to the bloomberg pno podcast i'm pimm fox along with my cohost lisa abramowicz each day we bring you the most important noteworthy and useful interviews for you and your money whether you're at the grocery store or the trading floor find the bloomberg pno podcast on apple podcast the soundcloud and bloombergcom two two we're going to take a look at the bond market today focus on fixedincome brought to you by pimp go for investors who demand more than the markets deliver all investments contain risk and may lose value consult your investment professional before investing today is a great day to have ira jersey on the show he is chief us interest rates strategist for bloomberg intelligence and ira before we get to what you're expecting for the year ahead at what we can expect to lead a tomorrow with the fomc meeting minutes i want to talk about the action that we're seeing in the bond market today we're seeing a pretty broad based sell off that seems to be stemming really from the european bond market what do you make of this how much people read into this action it's it's hard always around to holiday periods to read a lot into into things because uh does people either putting on positions are taking off positions that um to to be either risks properly for the year ahead um i i think it is a real i mean it's real in in terms of the idea that um you know people do think that the uh that yields are going to be somewhat higher that the two to tax uh plan was going to help inflation and growth a little bit and and you know it at the same time i think a lot of people were really worried that you know the stock market was going to tank and and uh people going into your and wanted to be a little bit longrepressed just as a hedge to some other risk your assets so uh support this is a big surprise i i think you know we we do have some pretty important technical levels were sitting right out for 10year yield so uh so you know a move up to pass to 50 for example two and two and a half percent would be uh uh potentially mean that we could see last year's highs up but uh round to sixty five.

pimm fox apple interest rates ira stock market bloomberg investment professional 10year
"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

01:53 min | 3 years ago

"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Welcome to the bloomberg pno podcast i'm pimm fox along with my cohost lisa abramowicz each day we bring you the most important noteworthy and useful interviews for you and your money whether you're at the grocery store or the trading floor find the bloomberg pno podcast on apple podcast the soundcloud and bloombergcom two two looking to prepay those property taxes as a result of changes in the tax overhaul plan tim species partner in charge of eisneramper's personal wealth advisors group he joins us now tim thanks for much for being with us i guess you've got a lot of people waiting on hold calling you to ask how do you do this so go ahead tell everybody how do you do this well if we're in new york your are are many of the municipalities and counties has already been postino warrants and that's really the magic this is the trick here warned thing to be posted on websites for there to be posted a liability and that needs to happen in order for the tax payers to first pay taxes this month but then have it recognizes a bona fide payments and uh i have a short list of of county than what are they are with respect to this new york and west chester is an outline for the moment west chester is asserting they don't have time to do it but with the executive order last week that's exactly what the governor wants them to do uh the executive order state of emergency was intend to do have those misguided and county post those warrants now when you say post those warrants are those warrants general in nature or are they then somehow made specific to the individual taxpayer the latter the latter of pin mate raised there they're the.

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"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

01:42 min | 3 years ago

"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Trade or is that just sort of noise for you i refer dry bulk shipping it really doesn't come into play if you'd think about just the major trade routes again it's brazil to china australia to china on the iron ore and cold front and then you have a strong trade in the minor boxx whether it be samant's war soybeans corn coming out of the us golf going into europe going into india going into china i i don't i don't see any trade issues with that china has all the incentive in the world to continue growing on the steel production side based on what you're seeing from the demand side what country do you think has a better economy than many give it credit right now i think the chinese economy is is strong i mean i you know i i go back over the last six to eight months and i and i think that people are finally starting to recognize that iron ore imports are really growing a significant level and i think people failed to grasp the environmental um aspect of china and clamping down on pollution and how that is actually beneficial to dry bulk shipping and the shipping of high quality arnold john woven spent thank you so much for joining joining us as president of jenco at shipping which is based in new york bring interesting thank you thank you cut cut thanks for listening to the bloomberg pml podcast you can subscribe in listened interviews at apple podcast soundcloud or whatever podcast platform you prefer i'm pimm fox i'm on twitter pimm fox i'm on twitter lisa abramowicz wine before the podcast you can always catch us worldwide on bloomberg radio.

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"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

02:02 min | 3 years ago

"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Welcome to the bloomberg pno podcast i'm pimm fox along with my cohost lisa abramowicz each day we bring you the most important noteworthy and useful interviews for you and your money whether you're at the grocery store or the trading floor find the bloomberg pno podcast on apple podcast the soundcloud and bloombergcom two two obviously we've been spoke saying a lot on bitcoin but one question remains supreme can bitcoin ever act as a true currency is it the future of money right now i want to bring in wolfgang customer he is chief executive officer chairman and cofounder of fire apps which is based in phoenix arizona wolfgang thank you so much for joining us fire apps his nose affirm that helps companies understand their foreign exchange their currency risk does your recent focus on bitcoin indicate that you consider it a currency no i don't i think that uh while some people make consider it a currency um to the point that there are some sort of size to it but reality is that i've been talking to a lot of corporate ceos and cfos whilst treasury departments and none of them are really with the exception of some maybe marketing gimmicks a real looking at bitcoin as a currency that they're going to be doing business and if there really are three reasons for that uh the first one is that the federal reserve bank itself will end up coming up with a digital currency and that's what they're waiting for and other governments walsh well secondly is there is a senate bill twelve forty one that has been discussed for over two hours on november twenty eight so very recently where they're looking to change the definition of financial institutions and what that will do if they get what they're looking to get which is pretty likely it would actually criminalize bitcoin uh and would baker who would.

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"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

01:54 min | 3 years ago

"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Welcome to the bloomberg pno podcast i'm pimm fox along with my cohost lisa abramowicz each day we bring you the most important noteworthy and useful interviews for you and your money whether you're at the grocery store or the trading floor find the bloomberg pno podcast on apple podcast the soundcloud and bloombergcom two two legendary vanguard founder jack vogel sat down with us to discuss his thoughts and the gop plan bitcoin and his outlook for the bond market we kick things off by discussing jacks thoughts on the etf business where i began was asking him about the freight train that is destined to be a tenant trillion dollar from within the next few years vanguard and whether he was worried at all about how quickly the etf industry was amassing assets take listen both grouping they'll go to two together very well why strength at vanguard has been the traditional index fun the sp 500 total stock market which i started way back and and then nineteen 75 and that has been our strength we are eighty percent of that market and that traditional index market up by an old market broad market as about half of the index business and the etf business is the other half of the business and they are totally different uh they both have passive investment policies but the traditional index funds have cash of investors and that the egf sav active investors so etf set heavy trading and they have a lot more speculation they have a product line socalled that this house very speculative funds so i'm i i wouldn't buy wouldn't i wouldn't predict uh that that would continue to flourish in a we have data to hear that shows that's.

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"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

01:39 min | 3 years ago

"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Tax rate to 20 percent and some of the deductions credits that's you typically would be able to apply it we would do this look at the research and development tax credit that's the one that everyone has picked up on so you can't apply that against the aim today so you have these businesses and this is bad and the research into film attacks red is there to spur innovation in these businesses whether you are a clothing designer whether you're a manufacturer year incentivized to be innovative through the re r d tax credit now with the amptey at the same tax rate as the corporate tax rate the rd tax rate is virtually useless the way it's the way the tax bills currently structured jeremy real quick when you tell your clients the news that they may have a really hard time under this are much harder time do they immediately asking for the names of lobbyists they can call to adco and make it all go away unfortunately not okay all right he has not yet really do you do some that have well thank you jeremy swan is managing principal financial sponsors and financial services industry for a cone resident much appreciated thanks for listening to the bloomberg pml podcast you can subscribe and listen to interviews at apple podcast soundcloud or whatever podcast platform you prefer i'm pimm fox i'm on twitter pimm fox i'm on twitter lisa abramowicz one before the podcast you can always catch us worldwide on bloomberg radio.

tax credit jeremy swan pimm fox corporate tax managing principal financial services bloomberg apple twitter 20 percent
"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

02:00 min | 3 years ago

"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Welcome to the bloomberg pno podcast i'm pimm fox along with my cohost lisa abramowicz each day we bring you the most important noteworthy and useful interviews for you and your money whether you're at the grocery store or the trading floor find the bloomberg pno podcast on apple podcast the soundcloud and bloombergcom two did the kfqd very early saturday morning at senators republican senators passed an overhaul of the tax bill that may be the most sweeping legislation that we have seen in decades here to talk about what the economic implications are as srikumar president and founder of srikumar global strategies he is also a bloomberg profit and is based in santa monica california but he joins us here in our colder than sent manca monica but lovely eleven three oh studios serie a thank you so much for joining us i wanna start i wanna start with all of these stories and analyses or reading about the implications of this tax plan has anyone read it i doubt it renew consider that in the last couple of hours as they win a negotiating and talking lee said the mortar most important thing was as the republican they all had to go ahead and board for this bill because they wanted a legislative victory before the end of the calendar year so they got it and i think that were you you hear that parts of it were handwritten and you have seen that on tv saying that they didn't even have time to to type it all of this leads me to believe that people voted for the tax bill they had not fully lead red all right that said is there a way to assess in a preliminary fashion what the implications are based on sort of barebones assumptions of what is in the bell barebones bonds assumption under gained.

pimm fox apple santa monica california lee bloomberg president and founder
"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

02:09 min | 3 years ago

"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Welcome to the bloomberg pno podcast i'm pimm fox along with my cohost lisa abramowicz each day we bring you the most important noteworthy and useful interviews for you and your money whether you're at the grocery store or the trading floor find the bloomberg pno podcast on apple podcast the soundcloud and bloombergcom the kfqd an with us this morning as we await testimony from a current fed chair janet yellen i is dan moss he is economics editor a columnist for bloomberg view as well as dave wilson who is our permanent bitcoin watcher and is washing fee price soriano we've got a few other bitcoin watcher arrived fair i threw out a bid corn chart of the day out today all right all gets that new second dan i want to start with you at i want to talk about janet yellen with the gloves off she is no longer going to be fed chair come early next year do you think that she's going to get kind of feisty in and and say things that are sort of controversial today she's feisty person having listened to her in her role as vicechair her role as chained before that in the clinton administration when she was chair of the cia she's not a boastful person very humble person but look she wouldn't be him and if she didn't think he's my chance to do a victory lap all right so what's he gonna do it just basically going to go over the progress the fed did i made under her control or is there going to be possibly more of something more here it it depends what she's asked i mean there will certainly be an element of recapping where we've been where we are now don't forget she's still chair at this point until early february she will be running the fomc meeting next month a jay powell yesterday tipped the committee's hand somewhat by saying the case was coming together not such a surprise the famous dots lost published in september projected that built there's a number of things that he didn't say that she may now feel free to address.

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"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

02:00 min | 4 years ago

"pimm fox" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"They need a good holiday that's going to be really important for them well david come on in here because i'm curious first of all of the optimism that we're seeing in jc penney and macy's is spreading into other i retailers are also you know how how long lasting this could be based on some technical aspects well you've got calls up three percent so that's another plus nordstrom though which had numbers out late yesterday uh down one and a quarter percent at the moment didn't come in so well but if you want to understand why have go pop in petty you have to go straight to short interest the percentage of shares available for trading that had been borrowed and seoul this is a patient at the price would fall and when you run those numbers you see that short interest in patio these are figures fifty and a half percent of the float that is one of the ten biggest percentages for any company on the new york stock exchange so you get any piece of good news you're going to have these shirts hours out there that are going to have to by what they previously solved in other words cover their shorts and so you get these sort of extreme moves even though what's really happening at the company may not justify them i'm trying to think cover my covered their short said j c penney no no no no i won't go there but i will tell you that not this time of year anyway it wrong pants thanks year they speaking of which canada goose we spoke about it yesterday the maker of those parker's and down jackets and so on stock is up another three percent today thanks very much dave wilson bloomberg stocks columnist to send them an email d wilson bloomberg dot net sign up for his daily free email newsletter and our thanks to lindsey rupp specialty retailer reporter for bloomberg thanks for listening to the bloomberg pnr podcast you can subscribe in listen to interviews at apple podcast soundcloud or whatever podcast platform you prefer i'm pimm fox i'm on twitter pimm fox i'm on twitter lisa abramowicz wine before the podcast you can always catch us worldwide on bloomberg radio.

nordstrom bloomberg twitter apple reporter lindsey rupp dave wilson new york jc penney david pimm fox parker canada stock exchange seoul macy three percent