23 Burst results for "Satya Nadella"
The Corporate Shadow
A highlight from 54. Navigating Conflict: Turning Disagreements into Opportunities for Growth
"This is the corporate shadow. I'm Dr. Ryan Giffen, a professor and people operations expert helping employees and bosses build stronger, meaningful, productive relationships. Conflict is like a constant companion in the realm of human interaction, and it's never more apparent than in the bustling corridors of our workplaces. It's a natural consequence of diverse perspectives, personalities, and ideas converging under one roof. But here's the catch. Conflict, if handled effectively, can actually be a catalyst for growth, innovation, and stronger relationships. However, when it's mismanaged, it can leave behind a trail of broken connections and irreparable damage. So buckle up and get ready to explore the transformative power of conflict resolution. By the end of this episode, you'll be armed with practical tools and stories of success that will help you harmonize your workplace and make conflicts work for you, not against you. Conflict is an inherent part of human interaction, especially in the workplace where those diverse perspectives and personalities converge. And so let's explore some of these techniques and provide real world examples of organizations that have successfully turned conflicts into opportunities for growth and collaboration. First, one of the techniques we can use is active listening, or I call this listen to learn. It's really one of the fundamental aspects of effective conflict resolution. Leaders and employees need to strive to understand the other party's perspective thoroughly. Encouraging opened and honest communication is vital. By active listening, individuals can gain insights into the underlying causes of conflict, identify common ground, and build empathy. If you want to take it a step further, Brene Brown tells us to have courage over comfort. And to do that, we need to be vulnerable. To be vulnerable is being able to get in the arena with the individual and wrestle with the conflict together. Here's a real world example, and it's at Microsoft. At Microsoft, CEO Satya Nadella has actively promoted a culture of listening and empathy. When faced with internal conflicts and disagreements, he encourages his team to engage in active listening sessions. That approach is what helped Microsoft resolve disputes and foster a more inclusive work environment. Another way in which we could tackle conflict is through empathy and perspective taking. Empathy and perspective taking. Empathy is the ability to understand and share the feelings of another person by putting themselves in the shoes of the other party and considering their feelings and motivations. Doing this is going to help leaders and employees bridge the gap between conflicting viewpoints. This will then lead to more constructive, empathetic conversations that help resolve disagreements. The online shoe and clothing retailer Zappos is known for its empathetic approach to conflict resolution. Employees are encouraged to take the perspective of customers when resolving issues. This is what resulted in improved customer satisfaction and loyalty. So apply that to your internal customer. Take an empathetic approach. Look through the perspective of the other individual. This will help you increase that relationship and perhaps even more productivity. Third is quite simple, and that is effective communication. Effective communication is really the key to resolving conflicts. And so leaders and employees need to express themselves clearly and assertively, focusing on the issues at hand rather than resorting to personal attacks. Additionally, by setting ground rules, setting ground rules allows you to come from a place of care for respective communication as this will create a safe space for resolving conflict. IBM has a long history of effective conflict resolution techniques. At IBM, the company encourages employees to use the I language rather than you language. For example, I would say, I feel instead of you always, or I would say I've noticed XYZ behavior rather than you're doing this behavior. By using the I language, this will be a more effective way to communicate that doesn't attack the other person. It fosters a more constructive conversation and minimizes defensiveness. Collaborative problem solving. Collaborative problem solving is the next technique we could use. And so rather than viewing conflict as a win lose situation, leaders and employees should approach them as opportunities for collaborative problem solving. Working together to find mutual beneficial solutions can lead to stronger relationships and innovative outcomes. Google is renowned for its approach to conflict resolution through collaboration. In fact, the company promotes a culture of experimentation and encourages employees to view conflicts as opportunities to brainstorm new ideas and solutions. This has really led to the development of many groundbreaking products and services in which Google has provided to the marketplace. And lastly, mediation and third party involvement can often be an effective technique. In some cases, conflicts can escalate to the point where an intervention of that neutral third party is necessary. And a mediator can help facilitate such conversations, ensuring that both parties have a chance to express their views and work toward a resolution. It doesn't have to be a fancy mediator that you spend thousands of dollars on. In fact, look inwards, look towards your human resources department. When all else fails between a manager and a coworker, perhaps HR could help act as a mediator so that all sides are heard. The United Nations regularly employs mediation techniques to address international conflicts. Skilled diplomats and mediators help conflicting parties find common ground and negotiate peace agreements, preventing further escalation. And so at the end of the day, you all, conflict is an inevitable part of life. Embrace it. Don't run away from it. It's how it's handled that can make or break relationships both in your personal and professional lives. Effective conflict resolution techniques such as what we discussed today, active listening, empathy, effective communication, collaborative problem solving, and third party mediation are the essential tools for both leaders and employees alike. By embracing these techniques, organizations can transform conflicts into opportunities for growth and collaboration, ultimately fostering a more harmonious and productive work environment. The real world examples provided today demonstrate that successful conflict resolution can in fact lead to innovation, improved customer satisfaction, and heck even global peace. That's a wrap for today's episode. Remember embrace conflict. This will be a catalyst for personal and collective growth. When you can transform disagreements into powerful opportunities for understanding, collaboration, and positive change in your life. The Corporate Shadow is produced by InnoSpire Inc. The views expressed in the Corporate Shadow does not reflect the opinions or views of Hyatt Hotels Corporation or any of its brands. Thank you for watching.
News, Traffic and Weather
Fresh update on "satya nadella" discussed on News, Traffic and Weather
"Later on today, but we welcome the passengers and crew of the Royal Ovation Caribbean of the Seas as it makes its way toward Pier 91 and the Norwegian Sun as it makes Its way toward Pier 66 welcome back to Seattle folks great to have you with us. It is 525 From ABC News tech trends Microsoft users are getting a new co -pilot able to rid Ourselves of just this drudgery of sometimes this work Microsoft CEO Satya Nadella announcing what he
Bloomberg Radio New York - Recording Feed
Monitor Show 15:00 08-26-2023 15:00
"Rigs, yes. But we can always learn and put them on safety rails. That's Microsoft CEO Satya Nadella speaking with Bloomberg's Emily Chang in the latest episode of The Circuit. Watch the show every Thursday at 10 p .m. on Bloomberg Television and download the podcast wherever you download. That does it for this episode of Bloomberg Best. I'm Ed Baxter. Stay with us. Top stories and global business headlines are coming up right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. Legendary The Price is Right game show host Bob Barker is dead at age 99. The longtime television host and animal rights activist passed away this morning at his home in Los Angeles. He ended each episode of The Price is Right with what became his most famous catchphrase. Help control the pet population. Have your pets fed or neutered. Goodbye everybody. Barker received the Lifetime Achievement Emmy Award for daytime television in 1999. Civil rights leaders are marking the 60th anniversary of Martin Luther King Jr.'s historic march on Washington. Martin Luther King III called it a continuation of his father's fight for civil rights and not just a commemoration of the event. We're coming together to say we must create the climate for America to move forward in a forward direction, not a backward direction. Organizers say an estimated 75 ,000 people are taking part in today's rally at the Lincoln Memorial. On Monday, President Biden and Vice President Harris will meet with civil rights leaders and members of the King family at the White House. Police in Boston say at least seven people were shot this morning during a parade, which is part of the city's Caribbean Carnival. Authorities say the victims were taken to local hospitals with non -life -threatening injuries.
Bloomberg Radio New York - Recording Feed
Monitor Show 19:00 08-25-2023 19:00
"High problem. Jailbreaks, yes. But we can always learn and put them on safety rails. That's Microsoft CEO Satya Nadella speaking with Bloomberg's Emily Chang in the latest episode of The Circuit. Watch the show every Thursday at 10 p .m. on Bloomberg Television and download the podcast wherever you download. That does it for this episode of Bloomberg Best. I'm Ed Baxter. Stay with us. Top stories and global business headlines are coming up right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. Former President Trump could be headed back to Georgia soon after surrendering at the Fulton County Jail yesterday. Unlike his other cases, Fulton County does not arraign a defendant on the same day they're booked and processed at the jail. Atlanta prosecutors are pushing for the arraignment to happen the week of September 5th and Trump may be required once again to appear in person. The Trump campaign is now selling t -shirts with the former president's mugshot. He became the first former U .S. president to have a mugshot taken last night. Trump and 18 code defendants face charges over alleged efforts to overturn the state's 2020 election. Nearly 400 people are still missing after the Maui wildfires. That's updated from the over 1 ,000 the FBI estimated were missing Tuesday. The death toll from the blaze stands at 115. Wall Street is closing higher to end the week. Natalie Migliori reports. Stocks rallied in volatile trading after Federal Reserve Chair Jerome Powell's Jackson Hole speech. Powell noted stronger than expected economic growth but gave no clear indication on the future of interest rates. At the closing bell, the Dow Jones Industrial Average gained 247 points. The S &P 500 added 29 points and the Nasdaq...
Bloomberg Radio New York
"satya nadella" Discussed on Bloomberg Radio New York
"Going to be mild. It's going to be brief, but nonetheless, that's going to be the outcropping of the fed, raising interest rates close to 5 percent within a few months. All right, that, of course, is Dana Peterson. Chief economist of the conference board earlier on Bloomberg TV, but yeah, I know our focus is on earnings and what the CEOs have to say. But what the fed does or overdoes or doesn't do enough, this will be really key in terms of what kind of recession what kind of economic growth and what kind of earnings we get later on in the year. Well, I think everyone's in agreement that we are at kind of some degree of an inflection point here. Now, of course, we all disagree on whether that means the fed will pause, whether they will and signal that they're going to pause. And sort of what comes next. And I think the big thing is when you look at the data, Carol, we talk a lot about this. When you put the trend together from basically midsummer last year until now, it's clearly the trend that the fed wants to see. The question is, is it going fast enough for the fed to pause, and more importantly, do they really believe that we're going to get back down to those pre-pandemic levels when it comes to 2% targets and the other sort of metrics that they're looking at? Well, we know the bank of Canada is pausing if that's any guide. Like I said yesterday, Canada speaks. Bank of Canada. They're the bellwether? They're the bellwether. I'm saying it. We're trying to look at we look anywhere we can. To the Canada. The point is there are new normal when it comes to inflation. Remember when it needs to go whether a few months ago? No. I can't think about that. Let's go back to Tesla. Tech company car company. We're going to continue this conversation. We'll be back in less than an hour's time across platform. We call it beyond the bell. We're going to count you down to the close and lots of earnings, including Tesla after the close. We'll see at 4 p.m. Wall Street time. Baby I am moving way too fast. All right, so there's a lot going on and let's not forget, as we just talked with our TV collies, a lot of earnings after the close. What do you see? I have so many comments now that now that are TV Friends. Don't take them away. I want to say there were two things I wanted to say. One is go back to what Mario Cordero, the executive director of the port of Long Beach told us earlier. Very murky for him. He has no idea. And it's interesting because it did say that you talked about a big reduction in container costs. I think you said 90% because we've got more capacity, but he said, you're seeing, I guess, shipments or bookings of containers being canceled because of diminishing import levels. He said what he said, but the economy is slowing, which is what the fed wants. The other thing I wanted to say, Carol, when remains said, we're at an inflection point. You should back up, you said, too. Right, exactly. Yes, since November, it's pretty remarkable. Is that inflection point you were going to say? Oh, yeah, the inflection point is that the unemployment rate is so low still. It's so hard to say we're in a recession, but unemployment rates so low. So maybe we do have a recession, but it feels like it. No, but the job market still kind of chugs along. But when it comes to the tech sector, that's a sector where we've seen lots of job cuts and that included Microsoft which, as you know, it's a tech bellwether and a reported earnings last night. After an initial market rally last night, it really kind of came undone as the company got into commentary and on the outlook Tim. Yeah, we're actually seeing shares of Microsoft apps just flat right now. Interestingly enough, Carol, they were down as much as 4.6% earlier. For the company and for the broader tech and a market indications, we turn to Bloomberg intelligence senior software and IT services analyst on who joins us via Zoom from New Jersey. Okay, on rock. Explain what's going on here because, you know, you're pretty optimistic after that. You were really optimistic shares were sharply higher yesterday when we were speaking to you. Again, this was before the conference call. Then the conference call happens. Satya Nadella makes some comments about slowing growth when it comes to Microsoft Azure. The company's cloud business suddenly, everybody starts selling and then today, stock opens lower by more than 4.6%, and here we are, they're flat, help us make sense of this. Yeah, as I said yesterday to you, it's all depends on the guidance of what they say on the call. So the stock was very up after the earnings because they beat the cloud numbers by one percentage points. And when they gave guidance for cloud, it was two percentage points below what consensus was looking for and people started selling. I mean, I think a lot of this is driven by people who have short term expectations on some of this stuff. And I think that's really what is driving a lot of the movement in technology. As you rightly said, you know, unemployment is very low across the board, but in the tech world, over the last several years, we have seen some massive growth rates both in terms of revenue growth and employee growth. And this is the area we're seeing, I would say the biggest drawback of what tread is doing is people pulling back tech spending. In a company like Microsoft analog, how much do you look kind of much longer term rather than quarter to quarter? I know you report on it quarter to quarter and then some. But I mean, is it a company that you really think much more longer term than it is in the right avenues of business in the right trends in the areas where there's growth? Yeah, I have no doubt in my mind if once the stock raising rates and the business executives around the world saying, okay, I don't need a panic as much. I need to start thinking about my next generation technology framework. Microsoft thought it's going to go back up. It's going to go back up and double digits. You can examine the growth rate over the last 5 years. It's hovered
Bloomberg Radio New York
"satya nadella" Discussed on Bloomberg Radio New York
"Daybreak. Good morning I'm Nathan hagers, we continue to keep our focus on tech earnings this morning, Microsoft has kicked off the sector with the shares now down 2.3% following a warning from the software giant that sales will slow for Azure cloud services this quarter and then this afternoon will get even more insights on the broader tech picture. When we hear from Tesla after the closing bell, but ahead of that, we want to bring in someone who has been pretty bullish on tech over the years. Dan Ives is with us this morning. Managing director and senior analyst at Wedbush securities. Dan, good morning. How did you take that warning from CEO Satya Nadella about the slowing Azure cloud sales growth? Look, I think it's a double edged sword because cloud is holding up. I think ultimately better than fear. We're talking 30% growth into 2% IT spending environment, but no doubt. I mean, going forward, you're seeing the softening, the ripped the band aid off. And that's what they needed to do. I believe need jerk reaction, Walsh, it's going to digest this is better than feared. What does this say about the broader tech picture when you have a player like Microsoft, a pretty significant player in the cloud saying that yes, things are slowing down. Yeah, look, I think hypergrowth has definitely clock struck midnight. You've seen that across tech. And I think this earnings season is really about setting realistic expectations that are hit able to beat up. That's ultimately what investors want to see. And I think that's really actually been holding back tech. And when you look at Microsoft, I mean, they're still in an enviable position. PC market continues to obviously be a massive overhang. But I believe that's a small part of the valuation. Are you looking for a further reset from not just Microsoft, but other tech stocks when it comes to the economic backdrop. And the cost cutting that we've seen from a lot of these companies, of course, Microsoft ahead of these earnings announced their slashing about 10,000 jobs worldwide. Yes, cost cuttings happen across because this is something you need to do to preserve margins. That's a Microsoft and that's what investors want to see them do during these downturns. I think it ultimately leads the groundwork for the next cycle. But I think across tech, we're going to see this same theme. And I think that's something that's prudent, especially in this darker macro. You want to see expectations that are hitable to beatable. And that's really been, I think, holding back tech stocks, but you're starting to see the street look, I'd say book through the other side of the storm. Is the investment in OpenAI, the chat GPT maker, something for investors to hang their hats on and look past. Well, I think that's going to be a potential game changer. It shows that nadella is going to be in the left lean innovation. They're going to cut costs in some areas, but continue to invest is an AI arms race going on versus Google and others in tech. And I think this is a shot across the ballot. It shows Microsoft is going to get more and more aggressive I think it's a huge positive for the long-term story. And of course, we're going to hear from Tesla this afternoon. You've been pretty bullish on Tesla for quite some time, and obviously the attention has been on Elon Musk and Twitter. What are you going to be watching for when Tesla opens its books? I think it's really about what the demand environment looks like. I mean, we price cuts have been prudent move. Almost the smart poker move that we've seen in China. I want to hear that from Musk. What deliveries look like potentially this year and also what the margins look like. And of course, the off story and that continues to be the soap operas, Musk and Twitter. Does he say anything about Twitter or CEO and some other updates that that's been overhanging on Tesla stock? You think Elon Musk stays on his teslas, CEO? Oh yeah, I think he's CEO at Tessa for a number of years. I think the bigger issue is on the Twitter situation, which I think is slowly becoming less of an overhang. But tonight, it's really about the demand environment, especially in the potential price war. They're in a strong position tasso, but investors want to sort of see the forecast going forward over the next 6 to 9 months. And ahead of the call, Dan, Tesla announced that it's going to be investing something like $3.6 billion in factory expansions for batteries and semi trucks in Nevada. How do you take that? I think it just speaks the increased scale that we're seeing across the board from China to Europe to the U.S.. And I think that's a positive because that's their flexner muscles. That's part of how they have this weed. And they're not going to just sit back. They're going to double down. Do you have positives on that should be talked about in the call? Do you think Texas and our last 30 seconds here can continue to flex those muscles when we have these kinds of economic headwinds ahead for all these tech companies? Look, it's going to be a tight wire act in terms of a bound, but as you see when nadella, I mean, it's the time also to double down on investments. The last thing you want to be on the other side of the storm is not well positioned. And that's, I think, as
Bloomberg Radio New York
"satya nadella" Discussed on Bloomberg Radio New York
"With less. And clearly, shareholders are seeing something that they like because shares are really taking off right now now up over 3%. Remember, Microsoft had been sitting out of this tech rally that we've seen so far into 2023. It's still down 18% over the last year. Maybe today it changes that narrative. All right, looking at that productivity business, interesting jump here about 7% higher, 13% on a constant currency basis and of course that intelligent cloud business, 18% growth there on the revenue side. On a raw ground is joining us right now. Bloomberg intelligence senior technology analyst as Microsoft earnings continued across the wire on Iraq, what jumped out at you. Not quite sure if we have on a go ahead on a yeah, almost all the metrics were above our street was looking at except the other personal computing, which is the PC division. I think the relief for a lot of people would be Azure growth of 38% in constant currency. But frankly speaking, these results, although they are slightly better than consensus, I think the guidance is the most important thing and will drive the stock tomorrow morning and then that's only we're going to find out on the conference call. So we're waiting for some of those numbers in terms of outlook here. Having said that, we know Microsoft was not one of the names that really participated in the January rally so far when it comes to tech names. Is this kind of maybe a play playing a little bit of a catch up in the after hours because it's up about 4% here because the tone was kind of negative heading into it? I think most of the analysts would expecting these results to be worse than what the company had guided. And I would say other than that PC division, everything else performed better. So we really have to see how cloud performs because frankly speaking, PCs are a cyclical business, but the real story for Microsoft in long run is the cloud business profitability of the cloud and the growth rate of the cloud. And if it starts to improve, I think that would be a U turn for the company. How much weight on a rock should investors put into the commentary that we're seeing from Satya Nadella about AI. Again, it's the beginning of the press release. It's the first comment that he makes, saying that he's committed to helping customers use our platforms and tools to do more with less today and innovate for the future in this new era of AI. He calls it out twice, and this of course is the context of a huge investment in chat GPT. So for Microsoft has basically a three legged company with office with PCs or windows and then the third one is cloud. All the stuff he talks about emerging technologies takes the company back to the cloud because at the end of the day it's cloud consumption that goes up if people use more AI tools because the processing power needed for that is very strong. So every time he would talk about either it's productivity tools or AI, it drives that growth through their cloud products. In honor of what we are seeing just now, I know you've had not too long to digest these numbers, but when we think about the cloud and the growth that we're seeing in the cloud and again, second quarter revenues rather were just about on estimates. Where does this put Microsoft in the competitive landscape? When you think about some of those big competitors such as Amazon. So when you think about it in a cloud infrastructure side, Microsoft is a lot more exposed to legacy or older companies like the big banks and the retailers or the healthcare companies compared to Amazon, which is a little more whether you could say bias towards startups. Now, having said that, Amazon has a big lead over Microsoft and everybody else when it comes to the infrastructure part of it. But because of Microsoft hybrid products, it has been growing faster than Amazon for a very long period of time. Now that sensible because it's a smaller base, but frankly speaking, Microsoft is going to close that gap over the next several years because of that big footprint that I've talked about. Talk about some of their costs on a rock, of course, we heard about the cost cutting earlier last week here. They're mentioning in the press release, $800 million in non gaap expenses related to the latest round of severance packages. So one of the things really here from the guidance that we are looking for is what kind of operating margin to the guide for the full year. And in the last quarter, they said they would be flat on a constant currency basis. We really want to see where that guidance is at this point. But frankly speaking, again, this company is not going to cut people only to save a little bit of money. I think it is just an indication that the growth has slowed down quite a bit on overall tech spending. I'm very confident that no, go ahead. Go ahead. No, please finish. I'm confident that if next year growth returns, or if we see tech spending rebound, hiring is going to come back along with it. Hey, anurag, I'm looking at, you know, Microsoft shares now up about 4.8% in the after hours following their earnings. You've got Amazon up about 2.7%. Does it make sense that we're seeing the pop in some of these names in Microsoft in particular as a result of these updates? Yeah, as I said, going into the quarter, people were not sure that Microsoft will match that 37% Azure growth numbers that they said. They will do in a constant currency. They beat that buy about one percentage point. So all the stock reaction that you're seeing both on Microsoft and Amazon is because that they beat that for one particular number. Now, if the guidance comes out strong again for cloud for next quarter, it's going to maintain otherwise it goes down. I'm curious on Iraq. What about the reaction that we're seeing in some of the secondary software? And I'm talking kind of like the smaller names. Your data dogs, Monday dot com, MongoDB, Cloudflare, all moving higher here. Is that really the same story? Think about it this way. If software total software market is somewhere in the 607 $100 billion range, Microsoft is almost you could say more than quarter of a market. So it really is the behemoth that
Bloomberg Radio New York
"satya nadella" Discussed on Bloomberg Radio New York
"Keep financial conditions restrictive, even as the pace slows. Lori Logan's view was echoed by Philadelphia fed president Patrick harker, who says he favors raising rates in quarter point increments. There are remarks are at odds with comments from FOMC hawkes James bullard and Loretta mester, who believe it's too soon for a policy downshift. And now bond sales have got off to a record breaking start this year globally governments and firms have sold debt worth $586 billion so far this January, according to Bloomberg calculations. Bonds around the world have rallied this year after last year's historic route, which drove yields to their highest level since the financial crisis, Bloomberg intelligence forecasts that U.S. investment grade bonds will return 10% this year after their worst performance in half a century in 2022 and we're going to delve into that story in more detail with our markets reporter valley title in a few minutes. And in top corporate news, Microsoft and Amazon are cutting a title of 28,000 jobs. That's as growth in the tech sector stalls, both say the painful measures are necessary to offset slowing sales and a possible recession, Microsoft CEO Satya Nadella says the industry needs to adjust. During the pandemic, there was rapid acceleration. I think we are going to go through a phase today where there is going to be some amount of normalization of that demand. Quite frankly, we in the tech industry will also have to get efficient. It's not about everyone else doing more with less. We will have to do more with less. So we will have to show our own productivity gains. The Microsoft CEO spoke in Davos as the firm started notifying some 10,000 of its workers that they will lose their jobs. The 18,000 job cuts at Amazon represents about 6% of the online giants workforce. Costs at Wall Street 6 biggest banks are expected to hit a record breaking $320 billion as employees look to secure inflation beating pay deals. The rise in staffing costs will worry investors who are already concerned about higher credit losses in the drop in deposits, garden sacks international CEO Richard no day tells Bloomberg that pay has to match business success. Last year was obviously a tough year. We very focused on driving returns for shareholders. We drove a 10% plus ROE for shareholders last year, but compensation and rewards for our people. You have to reflect overall performance and clearly last year was a tough year than the year before and compensation was higher. And it's a cyclical business. And our compensation will continue to follow that trend. Goldman's international CEO Richard node there, speaking to Bloomberg, exclusively at Davos this morning. Now crypto firm genesis is said to be preparing for a bankruptcy filing as soon as this week, Bloomberg understands the cryptocurrency lending unit of digital currency group has been negotiating with credit to groups amid a liquidity crunch, but so far without agreement. In November, genesis suspended withdrawals after crypto exchange FTX where genesis held some of its funds went bust. Company representatives did not immediately respond to requests for comment. And some news in the world of politics, the New Zealand prime minister Jacinda Ardern says that she's stepping down in a surprise resignation ahead of a general election later this year, after 5 and a half years in office, Ardern says she no longer has the energy or inspiration to seek a third term. This summer I had hoped to find a way to prepare not just for another year, but another tomb. Because that is what this year requires. I have not been able to do that. And so today I'm announcing that I will not be seeking reelection. And then my tumor's prime minister will conclude no later than the 7th of February. Now her resignation comes as New Zealand's Central Bank said that it believes the country's economy is heading for a recession, Ardern was the world's youngest female leader, when she took power in 2017 at the age of 37. Yeah, huge news and a big shock for the people and the body politic of New Zealand. And of course, many successes over her terms, no doubts and missteps as well. But certainly she was seen very positively on the global stage as well. A big impact. Yeah, absolutely. And I think just closely watched because she was one of the few female global leaders during the pandemic. So yeah, really important one. And that on politics. But look, also, our main bread and butter. Let's talk about bonuses, shall we? Wall Street banks are getting ready for loan losses. They're worried about costs. So not really sure that it's going to be a year for mega payouts. But then I did spot this line from credit suites that they're going to pay senior bankers cash bonuses. Why they do need to retain talent. So the war for talent elsewhere might be fading. Yeah, what's really interesting is it's a really divergent pitch. It's not a one size fits all story where everyone's cutting bonuses and everyone's firing people. It's a bit of image picture. A Charlie wells from Bloomberg was just telling us that he was on the phone to recruitment agencies within the sector. They said, look, there are still lots of jobs out there. People are still hiring. And in terms of the bonuses, you talked about one of the little bright spots on the cash, within the context of the bad, the terrible year that that company sent. Citigroup also paying its junior bankers more as well. But yes, it's a mixed picture. Others are definitely going to be seeing pretty sizable cuts to their bonuses. We heard that from JPMorgan Goldman Sachs. Yeah, absolutely. They warned on that. And the other story that caught my eye as well sort of related is about exactly who does those jobs at the top of money management certainly in the UK and perhaps the most prominent woman in the City of London, the veteran investor Helena Morrissey has launched this program to train women to get those top jobs in money management. I mean, they've already working in the industry obviously. But this year it's going to be a class of 60 women from 33 companies that Helen Morrissey is going to try and help with all sorts of skills to try to drive them into money management still 90% of the jobs more than are done by men. Yeah, a lot of work to be done on that front. Let's get to act to the big macro story of the day then. Treasury yields continue to slide after the downside surprise in U.S.
Bloomberg Radio New York
"satya nadella" Discussed on Bloomberg Radio New York
"Business app or subscribe on Apple podcasts. As Satya Nadella in Microsoft's press release just now says it is a world facing increasing headwinds. Recession holds, for example, they remain top of mind for investors this earnings season. And a recently begging economics model projects the likelihood of a U.S. recession is now 100% within the next 12 months. So let's put all of these earnings and valuations into context because so far is the head of investment strategy Liz young is with us and pleased to say. And as we get the micro data with the earnings of whether their meat or their beats are ultimately in the back of our mind is, what are the valuations of these businesses and do they reflect these headwinds that they're being hit by? What do you make of the way in which you've lined ourselves up for earnings season? Well, look, I think we're sitting at a point in the year where we've done a lot of work and valuations have seen a decent amount of pain since January. And I think it's less about what's the right valuation for these stocks to be at, and it's more about what are people actually willing to pay for them, knowing that we have not solved all the problems that still lie ahead and knowing that we still have a pretty uncertain geopolitical backdrop. We're coming up on midterm elections. We've got all the classic kind of market signals that are saying a recession might be coming. Those are all going off. So there is still a decent amount of uncertainty ahead not to mention that just the month of October, despite this rally, we've seen almost half of the days with a more than 2% swing in the S&P 500. That is a lot of volatility and evicts that still hovering around 30, also indicates to me that the next few weeks are going to be bumpy. And what's wild is the volatility in the stock market is basically nothing embarrassing to the volatility. We've seen in the bond market in the FX market. And I'm interested in those correlations because, for example, today's trade, we saw stocks rally and tech do well because bond markets rallied and yields push lower. Is that the sort of correlation will likely to keep on seeing? Well, on a day like today, I think it was very much a rate story. So we got some housing data early in the morning, about 9 a.m. Eastern Time. And if you just look at the tape and how things moved throughout the day, that 9 a.m. release of home prices coming down pretty sharply is what I think sent ten year yields down. It sent two year yields down and everybody got sort of excited that, oh, it's working, inflation is going to go away, and then stocks rallied on the other side of that. Also though you want to look at the fact that not just tech rallied, but high beta stocks rallied, and that's not necessarily something that I would expect to be lasting in an environment where we have, in my opinion, more than a 50% chance of a recession in the next 6 to 12 months. So it really was a very risk on trade. It was sort of this, oh, it's a big relief. We might get a solve on the inflation problem. It might be sooner than we think, but the issue is that once that boulder starts rolling down the hill, it's really difficult to stop it at a certain point and not go into contraction territory. To that end, of course, with basically all the market moves kind of being dictated by bad news being good news, the Federal Reserve, perhaps not hiking quite so much as we'd expected. How much of a dollar story is this all going to be? Are we likely to see are we now at peak dollar? This is hugely important to a lot of the micro stories, for example, a Microsoft that had highlighted the headwinds of a strong dollar. Yeah, I mean, look, we've thought that we were at peak dollar. And when I say, we, I mean, just investors at large. I think there have been a lot of people who thought we were at peak dollar earlier this year. So I don't know if this is peak or not, regardless, even if it is technically peak, that doesn't mean that it's going to come down with a quickness. So a strong dollar in general, as we know, is a headwind not only to trade, but it's a headwind to those large cap corporations that have a lot of international revenue. And those big companies are the ones that have been the market story. And if you're a newer investor, those are also the companies that have really been the winners for you in the portfolio. So it's difficult to kind of shift your mindset, but I would encourage people that even in an environment like this, you have to think about maybe where the opportunities are and they could be in places that you wouldn't normally look. So a strong dollar is actually very good for smaller cap companies because they get a majority of their revenue from inside U.S. borders so they don't have that headwind. So looking at things like that, the last thing I'll say about a strong dollar is that from a macro perspective, the signal that you want to see is that when the dollar weakens that tends to mean that we're nearing the end of a tightening cycle or nearing the end of a hiking cycle, the fact that the dollar is still pretty strong here, I think means that the fed continues to hike and right now don't have a ton of reason not to. Particularly with such a strong labor market, as we've seen time and time again. And what's been interesting is on an anecdotal basis, you hear of startups and actually it's a big tech listed companies dialing back their headcount and looking to actually just slow hiring or indeed fire. Are you likely to hear you anticipating more concerns being voiced by CEOs as we're in earnings season? Because I'm not hearing it particularly from Satya Nadella or from Ruth porat or sooner or picture. So if we look at the labor market just in particular, I would expect to see some weakness in it and see that coming through in the data, closer to the end of the year. So the labor market is one of the last things, if not the last thing to turn when you have an economic contraction or a slowdown. And if you just think about that logically, there's a reason we're not hearing about it from CEOs because they will do everything else they can to control costs before they have to actually lay people off and cut jobs. So what we're hearing right now is a lot of hiring freezes and that's coming through in the data. So if you just look at the job openings or the jolts number that we got for August, job openings came down by 1.1 million. That was a huge drop. So now the ratio of the number of jobs open per unemployed worker is 1.7. That's down from two. We used to have two jobs for every unemployed person, pre-pandemic, that number was 1.2. So that's still that gap still has to narrow a bit. The risk is that that gap narrows and then we're in this kind of comfortable supply demand place with labor, that's when if we haven't slowed the bleeding, that's when you start to hear about layoffs. So we still have some time between now and I think that point. But I do expect it to start coming through in the labor data, see some weakness by the end of this year. Ultimately, at this moment, there's so much you talking about 50% of recession, people thinking potentially is higher with a lot of lack of clarity, is it time to put all that cash that people have been taking out of stocks putting it into cash as time to reinvest or keep powder dry for now? You can think about reinvesting it. And look, nobody's going to call the bottom perfectly and if they do, it's going to
Bloomberg Radio New York
"satya nadella" Discussed on Bloomberg Radio New York
"And the individual who wrote the piece. Business we columnist, max chaffin. Meta, you know, AKA Facebook is a very interesting company right now because on one hand, you have this enormous and very successful, you know, dominant business, which is social networking and advertising. So dominant that, you know, governments all around the world are worried about regulating it, even possibly breaking it up. We saw they'd have to divest from giphy. And then you have the metaverse, which Zuckerberg is very excited about talking about all the time, and they're really just isn't a whole lot of traction despite tons and tons of spending. You know, and almost mind boggling sums of money that they're spending to try to make this thing happen. Is there traction within for the metaverse? Well, that is what's super detailed. Super discouraging from the point of view of a sort of meta investor, we saw a reports over the last couple of weeks of meta employees not wanting to use their own product, which again, that's sort of discouraging on one level because you'd expect and hope that the people who are building this thing are excited about it, but also because Zuckerberg is pushing the idea that the metaverse is going to make a huge difference for office work, right? Then it's not just a video game platform. And the reason he's doing that is because the video game business is actually pretty mature. You know, they've been at this for almost a decade. And the fact that they can't get their own employees to use the platform have a say, we're all going to use it in the future. You know, doesn't bode well. But I do think there's an interesting kind of strategic decision here at this tack. Maybe away from consumers and toward the corporate world. Right, so if you watched connect, which is their annual developer event for VR, a lot of the focus was around office work, as you said. You know, the big special guests, you know, they had some gaming announcements and they did sort of the usual stuff, but the big get was Satya Nadella, the CEO of Microsoft, talking about now you can load Microsoft 360 five, which is the product most people know as office word excel, PowerPoint. You can do that in the metaverse. The chief executive of a censure showed up to say, you know, we think this is such a great thing. We've been doing brainstorming sessions on the n-th floor, which is the consultancies, metaverse thing. And again, this stuff potentially could matter, and you can sort of understand from a strategic perspective why Microsoft or why Accenture thinks is a good idea. You know, Microsoft wants to be everywhere. But PowerPoints in the metaverse, yeah. Yeah, so hey, why not? On the other hand, it's really hard to watch that and think, who is going to get excited about this? They're talking about sort of the parts of office work that everyone hates, you know, spreadsheets, management consultants, brainstorming sessions. Where is that again? You really have to yeah, I mean, you'd have to be like sort of being a management consultant to like this, which again, okay, maybe there are a lot of management consultants. That could be a good business. But it's just, it just doesn't feel like they're generating a ton of excitement. And when you compare that to the amount of spending they've done, we're talking something like $27 billion since early 2019. And they call that an investment. Of course, Wall Street calls it a loss. So we'll see. Okay, so the headset is another thing that comes up in the story. And it's been talked about a lot. It's expensive. 1500 bucks, right? What's your take on the headset? So the headset, it'll be very interesting, you know, apple is widely rumored we've reported that they're working on a headset. It'll be interesting what they do. The headset was both sort of more expensive than a lot of people who watch space closely. We're hoping, you know, $1500 is three times what Facebook's sort of consumer headset costs. It's kind of hard to imagine somebody upgrading. And then the technical capabilities, it includes eye tracking, which is very cool, I guess the company says for meetings and things like that. But battery life is lower than their cheaper headset, you know, the processing power doesn't seem like hugely better. We even had a meta employee, John carmack, who's like an industry pioneer, sort of saying, you know, their pros and cons to this device, which you wouldn't really want to hear when you're talking about your hot new product that you just released compared to something that you released two years ago that costs a third of the price. I'm wondering if nothing else this metaverse discussion has taken some of the attention away from some of the problems that Facebook has with regulators, elections coming up, things like this. It kind of feels like unintentional head fake. Or maybe it's an intentional. I mean, one of the interesting things that's happened is you go back to years ago, we were heading into a general election, and all Mark Zuckerberg wanted to talk about was the platform sort of responsibility to society. We saw meta talking a lot about back then called Facebook, you know, talking a lot about election integrity. I also talking a lot about public health and things like that. Now what's happened since then is some of those duties have been sort of pushed off to other parts of the company. We have Nick Clegg has been elevated to this sort of role. And as a result, all the focus in terms of media attention and from a public policy point of view is on this new thing, which I think has come with some pros and cons. On one hand, Zuckerberg isn't taking it from all sides, like is not maybe being criticized as much, even as there's tons and tons of misinformation on the platform today. On the other hand, a lot of focus on this platform that really doesn't seem to be thriving. That was business week columnist max chaffin, and Bloomberg radio's Paul Sweeney helping out there as well. Joel Weber is going to stick around for our next story. All right, you're listening to Bloomberg business week coming up, Netflix. Yep, it's growing again, so what's the problem? Well, our
Bloomberg Radio New York
"satya nadella" Discussed on Bloomberg Radio New York
"Bloomberg money minute. There may be a disconnect as more workers return to the office after the pandemic, 87% of employees tell a new Microsoft survey, they're getting the job done just fine whether they're at their desks or still working from home, but 85% of managers say they can't tell whether that's true. One of the most important things for us in this new world of work and hybrid work is to bridge this paradox in some sense. Microsoft CEO Satya Nadella. We need both new soft skills and managerial skills to make that happen. But you also absolutely need new tools. Microsoft has a suite of viva communication software to help teams align their goals. It counts PayPal and Unilever employees among its 10 million plus active users. Satya Nadella says it's about staying in touch with workers, not spying on them. To me, it's not about surveillance. It's more about helping employees thrive. That needs to be the gore goal of even using these tools. Nathan Hager, Bloomberg radio. Not completing high school is more of a social thing than it was an academic thing. I came out in the 11th grade. Nobody was embracing you. The kids were cruel. It was very difficult to be gay. Even though all these years have passed, I still had that longing to have my diploma. The hard part was determining that I was going to do it. But I definitely didn't do it alone. At age 30, with the help of her mentor, Carissa finished her high school diploma. I have a mentor, Maria. She convinced me to continue my education and finish what I started to get my diploma. Just
Bloomberg Radio New York
"satya nadella" Discussed on Bloomberg Radio New York
"Imagine your asset management firm's operational infrastructure as a competitive advantage let SCI show you how at SEI C dot com slash IMS In U.S. futures rebounding this morning 6 O one on Wall Street we checked the markets every 15 minutes throughout the trading day on Bloomberg S&P futures up 63 points now futures have 368 NASDAQ futures up 297 and the ten year treasury down four 30 seconds You have 1.78% Nathan Karen this morning's rebound comes after another roller coaster ride for stocks yesterday Let's get the details live from Bloomberg's John Tucker John And Nathan the S&P 500 closed at the lowest level since October technology shares with the biggest losers yesterday dip buyers did resurface near the end of the day but that wasn't enough to stop the S&P 500 from hosting a 1.2% loss The index just shy of the correction closing more than 9% off its record high from three weeks ago So where do we go from here Strategist from Goldman Sachs to Citigroup say now is the time to jump in Goldman strategists say any further weakness should be seen as a buying opportunity Cities strategists say their bear market checked list suggests it's time to buy the dip Live in New York I'm John Tucker Bloomberg daybreak John thank you The volatility continued after hours at the release of Microsoft earnings Right now shares are up 4% in early trading and we get more from Bloomberg's Doug Krishna The company reported after the bell and the focus was on the Azure cloud computing business for the last quarter revenue at the unit decelerated from the two prior quarters and that weakened Microsoft chairs in late trading but then on the call with analysts the company said the Azure sales growth rate would pick up in the current quarter excluding the impact of currency fluctuations shares then recovered Microsoft CEO Satya Nadella has turned the Azure business into a solid number two behind Amazon Alphabet's Google ranks third but it's adding resources to catch up in New York and prisoner Bloomberg daybreak And Doug shares of Texas Instruments are up nearly 4% in early trading the chip maker beat earnings estimates and gave an upbeat forecast of next earnings continue with about three dozen companies reporting today including Tesla We get more on the electric carmaker from Bloomberg's Tom busby The big focus will be margins and how many vehicles it expects to sell this year That's after Tesla ramped up production in a big way in 2021 at its Fremont California plant also its facilities in Shanghai It also expanded into Austin Texas where it's now headquartered and into Germany Also of interest the latest on its long awaited CyberTruck Tom busby Bloomberg daybreak All right Tom thank you Outside of earnings today's key event for markets comes this afternoon We get a highly anticipated policy decision from the fed at 2 p.m. and Bloomberg's Michael McKee has more Beneficials aren't going to be raising the cost of borrowing at this meeting Instead they'll suggest interest rates will be going up soon The fed's current target rate is essentially zero Policymakers will try to figure out how much it has to go up in order to bring inflation down to their 2% target but don't expect them to publish a road map to how fast and how far rates will move and when and how and by how much the balance sheet will shrink Expect chair J Powell to say that with geopolitical tensions supply chain problems and the COVID virus ever present The fed will have to remain flexible deciding policy on a meeting by meeting basis Michael Bloomberg daybreak Thanks Michael Here's the fed does have a tough road ahead That's according to Nobel laureate and economist Paul krugman who says the Central Bank needs to slow down the economy but can't move too quickly on rates It's sure looks as if the economy has hit the speed limit But that's a call for taking your foot off the gas pedal It's not a call for slamming on the brakes And so what they want to do then it's the balancing act How do they sort of get us to level off To slow down a little bit without throwing us into a recession Nobel laureate Paul krugman made the comments in an interview on Bloomberg television stay tuned for live coverage of today's fed decision on a special edition of Bloomberg surveillance It starts at one 30 p.m. Wall Street time on Bloomberg radio and television Geopolitics also near the top of today's agenda Nathan as tensions continue to simmer with Russia and Ukraine President Biden is indicating there is no plan to send U.S. troops into the country on Bloomberg's head Baxter has the story President Biden says he may move troops around and closer to Ukraine to be prepared for any eventuality but we have no intention of putting American forces or NATO forces in Ukraine But as I said they're going to be serious economic consequences if he moves Biden also says Russia he believes understands how much of an enormous deal this is globally and says if Russia invades he would favor personal sanctions on Vladimir Putin In San Francisco I met Baxter Bloomberg daybreak Thanks Ed and back on Wall Street Today there's a fresh push to retain talent Bank of America is out with a new plan to keep its employees and we get the details live from Bloomberg's rent a young Good morning Good morning Nathan Bank of America is giving almost all of its employees their share of a $1 billion stock award It goes to staff making as much as $500,000 a year That makes about 97% of Bank of America's global workforce available CEO Brian moynihan says each eligible employee will receive between 65 and 600 restricted stock units based on compensation They'll get the full value in March and shares will vest in equal payments over four years starting in 2023 It's the bank's latest move as competition heats up to attract and retain top talent Live in New York I'm ra need a young Bloomberg day break All right ready to thanks futures are heating up S&P futures up 64 points staff futures up 360 NASDAQ futures leading the gains this morning up 307 points or nearly 2.2% The ten year treasury is down 5 30 seconds the yield 1.78% on this fed decision day Straight ahead Billy's local headlines plus a check of sports This is Bloomberg It's 6 O 7 on Wall Street It's cold in Central Park 22° delay stacking up on the Harlem river drive FDR combo thanks to a broken down vehicle details coming up in traffic First Michael Barr with more on what's.
Bloomberg Radio New York
"satya nadella" Discussed on Bloomberg Radio New York
"To make All right you held your own man Well you know this was a fun one because I tell The non gamer Yeah but I mean I am a non gamer That's the thing but I love the industry right And I've covered Microsoft for years Like I said years ago Microsoft bought Minecraft I mean this was like what Close to a decade ago when Microsoft bought Minecraft for two and a half 1 billion 2 and a half $1 billion And Microsoft of course has been in gaming for years with Xbox And look I'll tell you what my first thought when I saw this this morning was wait a second Does this mean that games that Activision Blizzard makes are only going to be available on Microsoft devices I'm going to say Microsoft devices The Xbox or does it potentially mean I don't know and I could be speaking out of turn here but Microsoft has this service this subscription service you can up to 15 bucks a month where you can access over a hundred games Does that become the type of service that you see go cross platform Like Apple TV did by allowing Roku to take Apple TV So you can watch people don't understand what a big deal it is that you can actually watch Apple TV plus on a Roku That's crazy that apple's giving a different hardware company access to its service That was a big deal at the time Funny when frenemies become friends right This space is what you see what it packed or think what did he think was the reason Microsoft was doing it Well first of all patriot at $98 price target on the company and this was their $95 price target So he thinks they're getting about a fair price They're not getting any sort of big deal or anything But he also talked about the culture and the culture of gamers And it's something Satya Nadella referred to in the press release So the idea of leaning into that culture of gamers and getting them Microsoft platform is big Yeah and it's interesting It's just a reminder too of content of all kinds right It's still very valuable by a lot of very tech companies They care about that Do they say content is king I've heard that before I've heard that too This is Bloomberg All.
Bloomberg Radio New York
"satya nadella" Discussed on Bloomberg Radio New York
"Me I will say Qualcomm has an incredible role in the ecosystem Within the wireless industry I think companies recognize that we can put this together I think looking at the fact that we provide technology across all companies whether you're infrastructure company whether a device company whether application developer that's a common thing and that creates an ecosystem or companies over shared go But are you constantly picking up the phone to Tim Cook or Andy jassy or Satya Nadella Orson I have built a lot of relationship over the years and I will say one of my assets is I think an incredible network because I was able to reach out to a number of companies and create a win win partnership So I won't deny it I have I had built incredibly strong relationship I think relationships has always based on if they're successful is based on trusts and based on ability to have win win partnerships and that's reflected also beyond 5G you've been saying quite nice things about Intel's PAC L singer when you know obviously with their foundry business they could look like a competitor Is that genuine sentiment Absolutely Look here's how I think about it and I think pat and I think we're both part of the class of 2021s CEOs I think Qualcomm in Intel are two incredible technology companies in America And I think we have been at odds with each other in the past And I think Patton and I had an opportunity to redefine this relationship Everything is conversion I think mobile technologies everywhere So when you look at that it's really about coopetition It's no different than a relationship with Samsung Relationship presents if anything's an incredible great relationship it's complex We are a supplier We were a customer we're competitor all at once There's nothing more important right now for this than doctor industry to have a resilient semiconductor supply chain Is Qualcomm gonna be in the metaverse Are your chips gonna be in the Met of room We have start working early with augmented reality and virtual reality Now those are becoming meaningful business We have an incredible relationship with Facebook on Oculus I think that's on VR We've been working with companies like Microsoft don't augmented reality I think mixed reality is going to be a reality For us pun intended I feel that the next phone is going to be immersive glasses and we're going to have glasses that we're going to wear and it's going to be paired with her phone and eventually we're just going to have glasses Our phones are going to be glasses augmented reality glasses Think about this You're going to get glasses that look like this You'll be able to have 5G modem and computation in your glasses You're going to bring their own demanding computing of the cloud and you'll be able to with those glasses We'll be able to look at everyone Look at everything And if you look at somebody and then we'll say I'm going to facial recognition go to the cloud check on Instagram LinkedIn everything get all information you need In real time as well as objects and things that you want to research upon That's no longer a technology issue It's just a matter of having the ecosystem to mature I think there's an incredible opportunity to change healthcare to change education productivity as we bring full immersive augmented reality and the glasses You live in San Diego where Qualcomm is based I know you're a dad I also hear your car not right You refurbish old cars I have a two restoration projects that I'm working on I'm very excited about them but it's contrary to what we're doing in automotive All we're doing automotive is about the latest and greatest digital transformation of the car I don't know if my cars have any electronics at all other than the ignition I do restoration of muscle cars I really like muscle cars and from the 70s era And I love my two projects And what about the martial arts That can't be that's gotten more than a midlife crisis You are very skilled in martial arts Well I've been a protection of Japanese traditional karate The reason that's important for me Emily is give me a moment that I can disconnect from everything He helped me keep balance help me trying to do something else to put my mind on And I think there's a lot of lessons that you can bring from I think a traditional martial arts to business There's a lot you can bring to business One of the things about You learn in a martial arts especially the traditional Japanese one about spirit I think you win the fight in spirit before the fight And I take that to the workplace how I think about things And about the new challenges and opportunities for Qualcomm Cristiano mom thank.
Bloomberg Radio New York
"satya nadella" Discussed on Bloomberg Radio New York
"Do This is a Bloomberg money minute The word men averse burst into the public consciousness just recently thanks to Facebook whose corporate parent now is named meta platforms and whose CEO Mark Zuckerberg says in a corporate video We believe the metaverse will be the successor to the mobile Internet But what is it And it isn't just Facebook meta platforms space alone Microsoft CEO Satya Nadella sums it up this way It sort of comes down to really bringing the real world people places and things To the digital world You'd have your own avatar that you can make look like you and it would allow you like nadella to go places you wouldn't be able to visit For example the NHS hospital in the UK and do a virtual visit of the COVID ward And the business applications have really expanded during the pandemic We have dynamics three 6 5 connected spaces which brings basically the metalworks capability to a hospital to a retail or a manufacturing line The gaming world already has started along the road on a group of Bloomberg radio President of the Jewish communal fund zoya reigns and her husband Robert Friedman Jewish activists and philanthropists Talk about why they chose the Jewish communal fund for their charitable giving As very busy working parents we wanted to focus more on the charity part of it and wanted to focus more on our children and less on the administration The twos communal fund is one of the oldest and largest donor advised funds but at the same time they are totally up to date and have state of the art systems for us.
Bloomberg Radio New York
"satya nadella" Discussed on Bloomberg Radio New York
"Ethereum It is up more than 30% in the last month to a record high year to date ether up about 500% Bitcoin up only a 120% Now there's talk of an ether ETF by early next year And a warning from the director of the U.S. cybersecurity and infrastructure security agency The American way of life faces nearly daily threats from ransomware attacks to the country's critical infrastructure For more on this I'm joined by Jamil jaffer He is the cofounder and executive director of the national security institute and a national security expert who also served in The White House during the George W. Bush administration So what do you make Jamil of these latest comments from cisa And you know I'm sure it seems obvious to you but it still seems to be difficult to get folks across the administration on board Sure well you know Emily one of the challenges with these rants were attacks them We've seen a lot of is that they've been they're coming for a variety of groups We see them coming from criminal groups We've heard some discussion about whether nation states are involved in them or not right So the question becomes what's the government's role here But I think what's really concretized for the American public is the attacks on Colonial Pipeline the attacks on hospitals the attacks on water supplies food supplies We've now seen this ransomware spread in ways that really affect the average day to day lives of Americans And that's what's got them really exercised about it That is to say the American people and that's got the government paying a lot more attention And so you see now the government talk about how it needs to do better on its own defense That's what today Jennifer it says it was talking about and how to make that more effective and how to get better at specific vulnerabilities at the government has today and how to address those immediately I'm thinking of an attack on a hospital in Alabama where a baby literally died because hackers disabled computers and medical staff could not monitor them The CEO of Microsoft Satya Nadella told me cyberattacks are the new pandemic Is that how you would describe it and how do we get everyday people to understand how big a threat this is Yeah you know I think Sasha is exactly right I mean you know an epidemic here in the United States a pandemic around the globe We see these attacks spreading more broadly than we've ever seen before in attacking and coming after more critical infrastructures And so you take the case of this young woman who came in 2019 comes in a hospital Alabama miss Kidd She has her child There were a lot of everyone's focused on the cyberattack It's a wild stuff was going out with cyberattack Doctor texting each other back and forth They're not able to communicate effectively And there were just less eyes on the baby's heart monitor and 9 months later the baby passes away born with an umbilical cord wrapped around snack terrible incident right and you can tie it back to some of these instances happen There are even more direct ties if you think about what might happen if a water supply are affected or if the power went out and services weren't available As we're seeing more of this we're realizing that this is a concrete challenge for people part of the problem though you know we become accustomed to lots of cyber breaches our data is lost right our identities gone right So people are someone Jada when it comes to cyberattacks or cyber hacks but these attacks are fundamentally different because they affect critical infrastructure and they make it unavailable potentially for some period of time Meantime there's an organization a Russian organization called black matter a ransomware service that claims it shut down this week which would seem like a win is it Well you know it's hard to know We've seen a lot of these other ransomware services shut down We saw our evil go down and the like But what oftentimes you have happening is sometimes a rebranding themselves right They've seen some of their compatriots taken down by law enforcement They're like shut down We'll come back in a different form You know one of the things about black black matter was that they were ransomware as a service So they were offering ransomware to other people for part of the cut of it And so they shut that down but they may also still be doing it on their own And of course the real question is is why did they shut down what was his law enforcement activity Was it an ally nation Was it the Russians of some of argued Was it another Eastern European nation We don't know for sure but their claim is law firm after us We touch shut down So when it's some level but perhaps not as big as we might have otherwise hoped So do you think that the current administration understands the severity of these attacks And it really has a concrete plan to address them Look I think they have appointed a terrific group of people Jenny Shirley at cisa has long experience from NSA and cyber command She stood up the initial things there She was a Goldman Sachs recently Chris inglis cyber leader of the former Debbie director of NSA now the national cyber director and new barter as security adviser rob Joyce is back at NSA's new cybersecurity director And Paul nagini and silicon you have a the ideal team to get this right and you see the government doing stuff on its own side But now the key Emily to me is how does the government come together with industry create that interplay between the public and private industry with industry industry with government create that collective security Because we know look Emily asking one company alone standing on to beat the Russians or the Chinese or the Iran's North Koreans it's completely ineffective It's got to be it's got to be a team sport as Chris single described it And so now that they've gotten this team together we've.
Bloomberg Radio New York
"satya nadella" Discussed on Bloomberg Radio New York
"Retailers to be able to take any space of theirs or for manufacturers to have digital twins and this mesh meetings that's coming to teams is a place where anybody can join In fact Accenture is going to talk about how they're building essentially their entire what they call the nth floor on teams mesh meetings And so we are really excited about some of the things that we are available today I gotta ask you about the supply chain Satya We're heading into the holidays Of course you have Xbox You've got visibility into the supply chain there and more broadly What challenges are you seeing How bad is it Yeah to me one of the things that I think a lot about is in a world of constraints whether it's labor shortages or supply chain constraints the one thing that we are seeing is increasing use of digital tech because if you think about it digital technologies can act as a deflationary force in an inflationary economy And one of the announcements even at our conference is something called teams connect that allows people to be able to collaborate across businesses because if you think about supply chain one of the fundamental issues is visibility and not just to your suppliers but your suppliers supplier And there's no system of record for that today The thing that you have is spreadsheets and documents flowing between businesses So what we want to do is enable the next generation of collaboration between businesses using things like teams connect And I think supply constraints are going to be there with us for a while but I do believe in any individual company can deal with them by making sure that they are able to collaborate a lot better in being able to both sense demand and supply And so I think that that's going to become the new currency any company or any industry that does a better job of being able to in real time connect the two sides is going to recover faster Our exclusive interview there with Microsoft CEO Satya Nadella Meantime Amazon is looking to add office space in the New York City area Bloomberg's learned the ecommerce giant is close to a deal for roughly 400,000 ft² of space on the Jersey City waterfront Amazon said to be targeting a building called harborside one Amazon has been expanding in New York despite the collapse of its plan to build a second headquarters in Queens back in 2019 Coming up we will be speaking with the CEO of Arista networks about the future of cloud networking after strong third quarter earnings in spite of the chip shortage Joins us next This is Bloomberg When you reorganize and declutter we're probably the first thing you decide to keep Is there any serious contemplation of sanctions against China detailed financial and business reporting Tell us more about.
Bloomberg Radio New York
"satya nadella" Discussed on Bloomberg Radio New York
"At 5 p.m. Wall Street time on Bloomberg TV Of course it's always on the Bloomberg You know I think back to that May 2019 Bloomberg businessweek cover story It was called the miracle of Microsoft The greatest tech company of the 1990s is back and a lot of it was because of Satya Nadella and all of a sudden shifting the company to cloud and really leaning in big time and doing some other things Yeah Facebook getting a lot of attention for the metaverse because of its rebranding to meta platforms last week but this is something that Satya Nadella and Microsoft have been working on for years I think back to the announcement of the HoloLens this device that's like VR AR like that was announced years ago And he's saying hey essentially we're going to be productive in the metaverse It's not just all fun and games It's interesting And you do think about all of the companies we talked with our own Ian king about Nvidia and the role that they might have as this thing builds out So here we are talking a lot about the metaverse Well let's talk a little bit about world and national news Denise Pellegrini is standing by an 11 three O newsroom in New York Hey there Tim thank you Well a COVID vaccine for kids is facing its final hurdle today at that CDC meeting we've been talking about Bloomberg save me Morris is tracking development samey A CDC advisory panel is discussing the COVID-19 vaccine for kids The FDA has already approved it so once the CDC greenlights the shot the Biden administration will launch a rollout focusing on schools pediatricians practices and pharmacies after reviewing the data the panel is expected to vote this afternoon CDC director rossel walensky will decide whether to sign off on the recommendation and kids could start getting those shots as early as this week In Washington I made more as Bloomberg radio One in 5 New York City firefighters is on unpaid leave or claiming religious exemptions to avoid COVID shots hundreds more calling out sick in that angering mayor Bill de Blasio There's a lot of people out there claiming to be sick or not It's not.
Bloomberg Radio New York
"satya nadella" Discussed on Bloomberg Radio New York
"All right Charlie thank you so much It is one of the biggest market cap companies out there Some two and a half $1 trillion in market cap a share price that's up nearly 50% so far this year We're talking about Microsoft which reported earnings last week with its cloud based software driving robust sales and profit growth that top analyst estimates Tim for an 11th straight quarter Microsoft CEO Satya Nadella recently spoke exclusively to Bloomberg technologies Emily Chang about the company's ignite conference in this excerpt nadella talks about Microsoft stepping into the metaverse What is Microsoft's unique take on the metaverse And how will we get there First of all it's great to be with you all Emily I know where I think about the matter where it sort of comes down to really bringing the real world people places and things To the digital world And for us in fact and this is why the way happening both in the consumer space and in the commercial space 7 years ago is when we launched HoloLens We talked about both the gaming applications of it and the enterprise Applications of it And this pandemic if anything have made I would say the commercial use case is much more mainstream even though sometimes the consumer stuff feels like science fiction I was able to go with it for example the NHS hospital in the UK and do a virtual visit of the COVID wards I was able to go to the Toyota manufacturing plant and to a remote site and even the space station So I think ability to be able to have the malleability of digital really help bring things together where real world and the digital world merge is what's happening And in fact the two announcements we are making at ignite speak to it We have dynamics three 6 5 connected spaces which brings basically the metalworks capability to a hospital to a retail or a manufacturing line and then we're bringing mesh meetings to teams So these are two great real examples of what one can do in the metalworks today Has your Satya avatar joined teams and meetings and what's that like Yeah I mean so we are going to have the Satya avatar We've had avatars by the way an Xbox I have a Satya avatar with my game of tag in Xbox And so in fact it's going to be the same mama time that I can now use with whether it's with my Microsoft account or Azure actor directory and join a meeting And the thing about avatars is if you think about you have your real presence in video today you're also going to have your holographic presence And then the avatars are in an intermediary in the middle and I think there's a place for it and all these things It's all about creating more presence more human connection giving all the options for people to be able to participate in the communities that they're most interested in So right now I know you're focused on business use cases but obviously you have Xbox Shouldn't we expect to see this expand into Xbox into gaming in to entertainment and to consumers more broadly Yeah absolutely I mean the way I think about it we are a platform company as you know and Millie we always build the core entrance first and then of course we build it into our own first party application So you will absolutely can expect us to do things in gaming You could even think about you know if you take halo as a game it is a matter of words Minecraft is a matter worse And so is flight sim So in some sense there are two need today And the question is can you now take that to a full 3D world So we absolutely plan to do so But to your point we're also going to exercise this even in the enterprise space So whether it's mesh meetings in teams or it's the dynamics connected spaces But the thing for me though to get right or get all the intrinsics are whether it's the mesh platform for true mixed reality metalworks applications or the digital twins that people are creating or factories and hospitals so that they can simulate so that they can predict all of these intrinsics are going to be very much what we'll build into Azure as just any other platform service Now you're working with a number of partners including Facebook which just unveiled its version of the metaverse What do you think of their take What do you think of their approach Yeah I mean first of all we love the fact that there is so much innovation going in you know whether it's from Facebook and others who are going to obviously enter this phase I hope that this is the next big thing that happens after the mobile Internet We will make sure for example all space VR today runs as one of the most popular metaverse applications on Oculus And so therefore we would like to continue to make sure that some of our best applications are best platform work even mesh applications We don't want to we want to make sure anybody who builds using mesh can run those applications first class on Oculus and HoloLens and that's going to be our goal Given how much Facebook in particular has struggled with hate and misinformation violence the loss of public trust What kind of accountability do you want to see them and when they're building current app future products for billions of people including the metaverse potentially children You know to me I can talk about sort of what we are doing whether it is the communities that are on Xbox or LinkedIn or GitHub or any other place or Minecraft because to your point one of the things that we have to really make sure is in the product making ethos We build in the community safety and context or why we are in the first place even building what we're building In gaming for example is the joy of gaming If any communication and community behavior gets in the way of joy of gaming we have to exercise essentially the editorial context there Same thing with LinkedIn LinkedIn is about helping every member of the global workforce find economic opportunity That's what the discourse on the platform should go seek to Same thing with GitHub Same thing with any other property we build So that's kind of what I think we are all trying to make sure While we build in whether it's a privacy whether it's child safety whether it's misinformation or else the decency and humanity that is required for proper discourse that allows us to have a product and a platform that thrives going forward All right that was Microsoft's CES Satya Nadella with Bloomberg technologies Emily Chang check out more of that interview can find it on Bloomberg technology today.
Bloomberg Radio New York
"satya nadella" Discussed on Bloomberg Radio New York
"Above estimates but ad revenue from YouTube and Google's cloud sales both fell short The cloud unit is seeing growth but is lagging behind the likes of AWS and Microsoft while YouTube saw quote modest impacts from Apple's iOS privacy changes and ahead of the holiday quarter this supply chain constraints for the pixel 6 smartphone which is experiencing strong demand In San Francisco Ed ludlow Bloomberg daybreak Europe While it was also a strong showing for Microsoft the company's cloud based software helped drive robust sales and profit growth but it makes Charlie pellet has more They topped analyst estimates for an 11 straight quarter revenue in the first quarter ending September 30th climbed 22% to $45.3 billion that exceeded the $43.9 billion average estimate of analysts polled by Bloomberg CEO Satya Nadella has extended the company's success in cloud computing by lining up a steady stream of deals for Azure software which stores data and runs applications for corporations Internet based office programs also keep growing as Microsoft convinces customers to pay up for high end versions and expanded contracts In New York Charlie pellet Bloomberg daybreak Europe Okay so those are all the top earnings reports for you but here the Chancellor Rishi sunak is promising to start preparing for a new post COVID economy as he sets out his budget and spending review later More than a dozen measures have already been pre released including an increase in the minimum wage and end to the public sector pay freeze and about 31 billion pounds of spending on healthcare skills transport and border security Bloomberg's Charles cable has more The Chancellor is still expected to announce plenty more measures that could include rolling back a levy on bank profits altering business rates supporting energy bills freezing alcohol duties or increasing fuel duty When the Chancellor takes the dispatch box just after midday today he faces the tricky task of not just tackling the fallout of the pandemic but also combating rising inflation managing the impact of the energy crisis while addressing Boris Johnson's post Brexit leveling up and climate change tackling agenda in London Charles cape or Bloomberg daybreak Europe But complicating matters for the Chancellor is the pandemic which is still taking its toll 263 people reported have died within 28 days of a positive COVID test that is the highest daily death toll from coronavirus since the beginning of March here in the UK and that adds to fears that tighter restrictions might be needed this winter the number of people hospitalized is also at the highest since that period There were just under 41,000 new cases but the data did include three days of totals from Wales due to an error Elsewhere Washington still appears to have concerns about China the United States has revoked China telecoms permission to operate in the country the FCC voted to cancel The company's licenses saying that its ownership raises significant national security and law enforcement risks the commission pledged more steps to purge the U.S. market of Chinese technology in the name of security And that rounds out our top stories but let's get the latest in global.
WSJ Tech News Briefing
Satya Nadella: Windows 11 Is Centered on You
"I'm joanna. Stern and i recently had a chat with a pretty big name in the tech world. My name is satya nadella. Sio chairman of microsoft the that i spoke about windows eleven. That's the company's next big operating system. It was announced yesterday. And it's due out later this year. I'm calling right now from a windows. Ten computer what is going to be different upgrade to windows eleven i would say the experience right it's modern and more importantly it centered on you even just that little subtle shift of this start in the center there. It is from the king of microsoft himself in windows eleven. The start button moves to the bottom center of the screen but that cosmetic change actually has deeper meaning. That word center center center of center is core to noodles vision. That windows eleven should be at the center of your digital life as apple and google entice users to their increasingly closed off worlds. He wants windows eleven to be compelling choice for people who don't wanna live exclusively in either. I think windows has a role to play as that most open of ecosystems today that plays nicely with in fact the others. We you know we we want you to be able to connect your phones to your. We want you to be able to communicate to people on phones or other. Pc's that's evident in the new features windows eleven can run android apps something that hasn't been possible
Daily Tech Headlines
"satya nadella" Discussed on Daily Tech Headlines
"The daily tech headlines for thursday june tenth. Twenty twenty one. I'm jen cut after a month. Delay apple is launching app. Subscriptions next week in apple podcasts in an e mail podcasters apple announced the global launch for subscriptions and channels which are group's of shows will take place on june fifteenth listeners. Will be able to subscribe to shows or networks at free content early access and other perks following a new york times report into the practice. Google is altering their search algorithm to lower rankings for sites specializing in posting negative information about people in charging them to remove it. The head of google search quality team. Pandu nyack said. The company has been fighting slander as content websites behind the scenes for a number of years and the removal removal request forms get millions of visits a year. The national music publishers association found a suit against the gaming company roadblocks over legally using songs from artists seeking a minimum of two hundred million dollars in damages. An mpa president and ceo david israelites sites. Rohbock is user base of forty two million active players paint to upload songs and allegis roadblocks takes virtually no action to prevent repeat infrigement or alert users to the risks are taking the facebook revised its previously announced work at home policy extending to all full time employees able to work from home not just senior employees and also permit employees to request remote work access across international borders facebook with around sixty thousand employees plans reopen most of its us offices at fifty percent capacity by september in a memo to staff ceo. Macabre says facebook is planning regular in-person meet ups for office and remote workers to support relationship building. The virgin sources say facebook plan to debut. Its first smartwatch. Next summer it will reportedly include a detachable display with two cameras one front facing and one ten eighty p rear autofocus camera for taking pictures and videos that can be directly shared across facebook suite of apps. Facebook is said to be planning future versions of the watch as a key. Input device for facebook's aarp glosses microsoft announced plans to expand its xbox game pass subscription service to third party smart tv's streaming device being built by the company itself performing on less powerful hardware through the cloud as it currently does for the beta version of xbox cloud gaming service on android and ios microsoft ceo. Sachin adela says. It's working with global tv manufacturers to embed the xbox experienced directly into internet connected televisions with the only extra required being a controller jordache launched japan continuing their global expansion and marking the us companies first steps into the asian market launching in sendai north of tokyo with a population of approximately one million the financial times reports chief executive. Tony shu said this would give door dash access to one of the most restaurant. Dense countries in the world and have already listed hundreds of restaurants. The wall street journal reports. Jbs the largest meat supplier in the world announced. It paid the rain. Are hackers rival about eleven million dollars. The attack led to meet plants across the us shutting down for over twenty four hours in a statement released by jbs. The company claims it was able to get their systems operational again without the director but chose to pay to keep the files safe back. In nineteen ninety-six cadillacs on star was one of the first in-car services.
Joey's Totally Tech
Microsoft Edge for Linux Discussion
"So this past month. I've been using the microsoft edge. Web browser own lennox That's an Development actually part of the microsoft insider program and As you know microsoft edge is what comes with windows and lennox my primary operating system. Mx lennox sabih specific So i never use edge myself. I'm a. I'm a guy right. But i do know that edge came out not too long ago from microsoft's that's been out for a while but they recently rewrote it of course Edge and internet explorer have a reputation of being the browser that used to download google chrome. Yes yes so but yeah. Edge recently switched to the chromium engine or the blink engine which is what chrome and chromium years. Yes so they decided to work on a lennox version of the browser k. Yeah now for Years of before satya nadella took over as ceo Microsoft had a history of attacking olympics and open source software and The bottom line would you expect. Yeah i know right. But i think sought adela has learned to use lennox to his advantage but many lennox users. What fine using microsoft edge. A bit blasphemous. Alan is there that much hatred for the for microsoft. Oh oh yeah and the lennox community. There's a lot of hatred for microsoft Some people in the lennox community are accepting microsoft. A bit more these days. Yeah and we'll get into that but Microsoft under like steve palmer specially somewhat under bill gates. But i don't know if it was that bad but the bomber years Gosh bomber hated open source software really. yes Yeah and and the source. People like microsoft. Either you know they. They were everything that stood against open source software. You know i mean you got to fundamental differences in values. You have microsoft which is proprietary closed source software. You don't get to the source code. It's up now. They do have some open source software. We'll get to them a little bit and then of course a lot of lennox users they're open source activists pretty much they wanna see as much open source software out there as possible. So so yeah. They'd think that using a microsoft product on a lennox distribution as blasphemous even though there are microsoft products on now like vs code and some others all mentioned that So under site in the del la off microsoft has embraced one x a bit more. Now yes lenox does cut into their bottom line of it but microsoft has learned how to use lennox of for their bottom lines. Microsoft has released. Vs code which is available for winnick's And it's up source