tv Bloomberg Markets Bloomberg June 24, 2015 12:00pm-1:01pm EDT
of a big victory thanks to republicans. the senate is poised to give final approval to a trade bill today. pimm: ibm looks outside the box as it tries to reverse 12 quarters of sales declines. we going to tell you about big blue's new partnership. betty: as a price here. millenial's want to work at google. some of their other choices are in finance and accounting. he will tell you all about that. -- we will tell you all about that. ♪ pimm: good afternoon. i am pimm fox. betty: i'm betty lee. let us look at how the markets are trading at this moment at midday. we are down slightly. the greek that talks appear to be stalling and that has some investors taking off some of the profits that they seen over the
last several sessions. betterdp coming a little than estimated. revisions showed that consumer spending help us shrink that contraction that we saw in the first quarter. moving over to the oil markets, you are seeing some gains -- excuse me, losses for brent. nymex has to do with inventory numbers showing we had more supply than expected. that is dragging down oil prices. pimm: let us look at the bond markets. no real action. year.n the 10-e of 318 on the long bond. let us look at the dollar-euro strength or weakness. dollar gains against the euro. the dollar also gaining against the japanese yen and gaming against the australian. let us take a look at some of the top stories crossing the bloomberg terminal at this hour.
the u.s. senate is preparing to give president obama a big victory on trade. the president is expected to win fast track authority to negotiate the asian trade deal. aprocedural vote passed by 60-37 margin yesterday. only a simple majority is required for final passing. earlier this month, house democrats almost killed the measure. president hollande wants to talk abou to president obama about the spying. wikileaks says that the nsa spied on hollande and the two french predecessors. they will make the case in person at the united states should not spy on from the government. -- from the governments. >> the top intelligence court nader will go back to the united states in a few days so that things that had been put down on paper with some commitments made are at the same time checked, respected, and applied. that is the line that we will follow. we will remind them that between allied countries it is something
which is something unacceptable. pimm: wikileaks says the nsa also eavesdropped on french complaints about the u.s. buying. the national security council says it will not comment on specific allegations. and a new report confirms that the u.s. economy contracted in the first three months of the year, but not as much as previously estimated. the commerce department says that first-quarter gdp fell 2/10 of a percent. earlier, the government said the economy shrank 7/10 of a percent to consumer spending was actually stronger than first reported. billionaire investor carl icahn is out of netflix. he sold his box and he believes that apple presents the same opportunity that networks offered years ago. shares arising of the 10th of a percent. that was a day after he declared a 741 stock split. the stock has more than doubled this year. betty: ford is driving deeper
into the stock services. they are helping renters to rent out their cars. they have moved from instrumentation to and from nation of the program following six months of data gathering. speaking on how the program is run to work. >> they're going to offer on a test basis to 14,000 customers here in the u.s. and 12,000 customers. in london. those customers who actually finance their vehicles through , workingpany through a company called get around in the u.s. and easy car club in london, customers will be able to rent out their money, for their car payment or to earn just a few extra dollars. betty: forces a future of more shared vehicles and less driving cars. we will hear more from the ceo a little bit later this hour. and it will still be a while
before self driving cars hit the road. another 15 years, and fact. according to the president of toyota's biggest supplier, he technology to make automobiles fully of congress will not be established until at least 2030. google and ford believed that self driving cars will be in use by 2020. remember the scene from the movie "back to the future?" he's on a hover board. betty: movie fun is about to become reality. toyota's lexus brand has pitted a working model of the hoverboards. it is real, but you cannot get your hands on it. it is laugh or sale. the board uses liquid nitrogen and magnets. prototype testing will begin in barcelona the summer. that will make my commute easier through new york. those your top stories. i would rather ride that then drive my car through new york
right now. coming up in the next half hour, a day after optimism, greece is decidedly pessimistic after greece wa rejected the latest offer from creditors big we'll get the latest from the meeting in brussels. pimm: lost in the library. the valuables wineries keep locked behind closed doors. betty: when huber comes to town, get ready for a fight. how the company has grown lobbyist and often strong-arm cities into getting a deal done. pimm: silicon valley startup box is teaming up with idea for a new partnership. the deal gives the company access to ibm's customer database and advanced analytical tools. in return, ibm gets access to an area it is trying to growth -- the cloud. betty: emily chang is standing by with an exclusive interview.
emily? emily: it is all about the clock it i know that this is the biggest partnership that you have ever done. bob, i will start with you. how this all come together? a shared vision on how we could better serve clients. ibm was really trying to introduce capabilities to help people gain more insightful data. we were identifying that box was helping people on the edge with --ud and more enacted to the interactivity on how people were sharing data and more productive. were tod i's views bring together our analytics and accessibility to global markets using the cloud data center. we can make that content more secure using our security intelligence capabilities and work on transforming work by thinking about new applications on what is on the edge of people
interacting with content all the way into the back office where people are used to using more mature businesses -- business processes. emily: just a few years ago, you are talking big about taking market share from ibm and other company. why the partnership? aaron: for us, we have seen the market as not zero-sum game. there are multiple ways that we can integrate and interoperate with lots of different platforms. today morepecially than ever is that the future of the enterprise is going to be this mix of best in breed technologies where boxes bringing the best and content collaboration and ibm is bringing incredibly powerful analytics, security, and insights around content. bring those two technologies together, we can actually better deliver value to our customers. that is the big opportunity that we see. it is our focus on delivering
world-class expanses in health care, retail, financial services, government, which also are the kind of prime markets that ibm has been a world leader in for many decades. we think this partnership is actually a blueprint for what you're going to see in the cloud in general don't forward in terms of how companies are going to be bringing their technologies together in terms of bringing value to their customers. emily: bob, how do you make money on this? is any money changing hands here? it is about helping make people more productive and give them more insight and context and performing roles. for relationship, we are opening new markets with box. we are working on top of our cloud storage capabilities fit there is a great opportunity for business there. box this serving companies today
with ourdoes not reach enterprise capabilities. there is a great opportunity for us in that space. we have a collaboration on how technology will transform rapidly using mobile technologies. it will collaborate around what we are doing and spaces like ibm and watson analytics and put that into place with the best in breed capabilities a box. it makes a nice value for clients. emily: if ibm gets box to a large customer, what happens? does any money changed hands and vice versa? terms of thef the partnership we are not discussing. the way it would actually work is that, in this case, it would be a great new customer or client for us. there is a bunch of new solutions that we are going to be developing and integrating into from ibm as well. i think certainly ibm sees this as a major opportunity to deliver a new value propositions to customers as opposed to just
thinking about adding box into the mix as a net new service. emily: bob, i wonder. ibm's cloud business is playing catch-up to microsoft and google and amazon. you have also partnered with apple and twitter to try to change that. how does this deal position you better with regard to that competition? bob: the, on the cloud business, 7.4 billion of 12 months revenue is growing at 5%. it is hard to look at us trailing the next is. -- in that space. analytics, the business has been responsible for. we had 17 billion growing in the first quarter. we are a leader in that space. where i think this helps is really that our focus is bringing insights to wherever content might be present and to insights touse the help people perform their jobs.
that is something that box is doing a good job of in workflow and productivity. we are bringing great technologies like watson into the space where more unstructured data is used to be able to extract that insight from data that can be very difficult to get insight from. it is very good comment there for -- it is very good complements there. emily: why does ibm not just by box? if your technologies are such a good fit, why did you not ask for the idea? aaron: we stayed focused on the partnership idea. for us especially, we saw tremendous opportunities to partner. the point that i would add on to bob's point is that ibm has unparalleled reach when it comes to the global scale. you think about locks as a start box as a start up going into markets in europe and asia and very regulated industry, as the platform that ibm has built out.
the relationships and the scale that they have in those industries is super important for us. we saw this as an amazing opportunity to partner. we are still focused on our core vision as well. is knownrry ellison for talking smack. he just made comments about ibm, saying he does not consider ibm serious competition. godn, i know that you are who once referred to larry ellison as darth vader. others would say that oracle is playing catch-up in the cloud. -- is larryn ellison the right guy to tell us where the client is going? pulling too many quotes from ipass. i'm fairly reformed as a public ceo. say that i think there is a bunch of vendors that have built up incredibly established positions in the enterprise. they're going through an architectural transition. this happens in entry -- every
industry and technology environment in the past. the cloud is disruptive in the economic sense in the way that you deliver value to customers. but it is not particular hard to deliver the cloud. i think most of the incumbent technology vendors will be able to get to the cloud be able to do that very successfully. it is executed be now the new opportunity and the new competitive market is going to be what do you do on top of the data? what do you do on top of the information and the computing and the cloud? commodity and the structure is not particularly interesting. what is interesting is what you're doing with that information to deliver more value to customers. i think you're going to see different points of view from microsoft, ibm, oracle, and others. i think that this is a fairly new market that has yet to really play out. interested tobe see if more consolidation is coming. to leave it there. box ceo aaron levy and bahia ibm.om
him and betty, i send it back to you. pimm: that was the box ceo and the ibm analytics senior vice president. still ahead, germany downplays chances of a quick deal with greece. betty: that is after the greek government rejected the latest offer from creditors. we will have the latest on how the negotiations in brussels are turning out after the break. ♪
. quarters of 18%. the companyp 28% of benefited from increased that we have seen and prices. revenue of 32%. the shares are up 42%. among the best performers in the s&p 500. that is fretting to the other homebuilders as well today. we are seeing the peers on the rise. the is as well as some of other homebuilders gaining. also which is the homebuilders etf is now up for five straight sessions. that is an eight year high for this etf as we have seen a lot of the numbers on housing began to improve. one of them his new home sales. if you look at my bloomberg terminal, here is the new home sales number. the latest number we got yesterday showing the highest pace for these new home sales since february of 2008. obviously these other guys are
benefiting from the overall trend. betty: we will see if that lasts in the housing market. thank you so much, julie hyman, our senior markets correspondent. germany is downplaying the chances of an imminent deal with greece. this is after the government and prime minister tsipras rejected the latest term by creditors to unlock bailout aid. meetingipras is with the heads of the finance ministers. hans nichols is in brussels. hopes for a deal falling apart or stay together? hans: at this point, they seem pretty far apart. the recent comments are from the greek government saying negotiations are tough and far apart. that matches what we have been hearing about the germans. will we do know is that the prime minister of greece and madame lagarde from imf and mr. girardi from the ecb are all in a meeting. they had been in that meeting for about four hours. it is going to little bit
longer. there's some talk out there that there may be a postponement of the eurogroup finance ministers meeting. that the finance ministers would have to approve a deal before he goes under the leaders. right now, we have to key stakeholders. they are in their, potentially hashing things out. the leaks that we are getting out of this from the greek side is that progress is not being made and we are not nearly as close as we thought we were, say monday afternoon at this time. ifm: i'm just wondering there's any talk about the leaked memo having to do with the specifics of pension reform, tax reform, and so on. it seems as this is being done in public now. hans: that is a very good point. a lot of these back and force on rejection offer and an offer not being accepted as being done in public while negotiations are still taking place. on top of that, mr. tsipras is using pretty hot language this writing his frustration with
betty: this is "bloomberg market day." i am betty liu here with pimm fox. to reprint were reported missing from the boston public library. and an engraving valued at more than $600,000. they turned up after an exhaustive search and they were actually just 80 feet from where they were supposed to be. betty: but not before the head of the library resign. libraries contain all cons of treasures, many which really see the light of day. bloomberg reports. >> the harvard library is one of
its crown jewels on permanent display. it's gutenberg bible from the 15th century, with several million dollars. tons of other treasures are hidden away. just as they are and levers across the country. who knew that the university of illinois has lewis carroll's chess set or that the university of texas has the world's first photo. ? >> it can be an intimidating place to walk into for the first time. people might not know we have and we want to broadcast the message of welcome anyway i can. all accessrholt has pass to harvard's ray books lighter. he has pulled a half objects altogether worth millions. their scientific instruments from the renaissance. >> this thing is gorgeous. it is a book that was published in 1542. the book is full of these beautiful volvels.
>> is the first washington tell-all. james munro wrote it. >> this is the favorite thing in my class. it is a book that long to george washington. it is full of notes in his own handwriting. went we learned recently, to valuable objects went missing from the boston public library, libraries also have rare art. like this drawing. >> this was wanting the original drawings made by john james audubon for his "birds of america." >> harvard will not say how much it is worth, but a comparable $100,000d worth 10 at auction. >> if we think about acquiring this book, we think about who could use it. the harvard library system
expects to spend $123 million this year on everything from acquisitions to keeping its collection say. there is a tension between access and security. >> we are a place that houses many treasures, but we have them so people can use them. if somebody came in for dickens walking stick, we would put them down in the reading room and they could look at it. >> sure enough, i did. i'm going to find treasures that my desk. -- my desk. betty: i'm sure a lot of valuable things are there. coming up in the next half hour, when uber announces expansion into a new city, it does a lot more than put its cars on the roads. ♪ ♪
♪ betty: welcome back to "bloomberg market day." i am betty liu. now to the top stories causing the bloomberg terminal. the backlash against the confederate flag has reached alabama. the government has ordered the flight to be taken from the state capital. south carolina's opener has called for the flight to be removed from that state capital. the speaker of the mississippi state once it to be taken away from the state like a controversy erupted after the suspect from the south carolina church massacre was seen posing with it. the entry today in the 2016 race in the white house. louisiana governor bobby jindal joining a crowded field for the republican president of nomination. he will make an announcement at a rally outside of new orleans later today. bobby jindal is the first indian american government and the u.s. and will be the 13th republican candidate to officially enter
the race. fox news is not renewing its contract with sarah palin. the network says it amicably parted ways with a former republican is president of candidate on the first of the month. sarah palin is still expect it to make guest appearances on fox and will be heavily involved in presidential and gubernatorial races next year. the times are changing at four. the company is driving deeper into the car sharing business. it is also introducing an electric bike and a smart phone with information like traffic and weather. the ceo says the company is excited to be evolving. these days, we are thinking of ourselves not only as a car, utility, and a truck company, but as a mobility company. you look at the number of technologies out there, we are at one of most transformative. in time in our history.
as a company, we are not viewing it as a threat. we are embracing it. we are driving within the culture of our company a whole innovation mindset, which is around rewarding, but also appreciating a challenging custom and questioning tradition. we are also doing even more interesting things. we have opened our research and innovation center here in silicon valley. by the end of the year, we will have wanted to largest automotive presences here. to be part of the ideas in silicon valley that we could potentially use in our business to improve customer satisfaction and better business. rolling out a test program involving 14,000 customers in six u.s. cities and 12,000 in london. owner of ford finance vehicles will be able to engage in peer-to-peer sharing and screenwriters other cars. that is a look at top stories at this hour. coming up in the next half hour, the senate is about to hand president obama a big victory on trade.
we will look at how the controversial fast track trade bill got a second life. target, google. thesearch giant tops list that millenial's want to work for. u.s. department is turning at sites on trader in the $30 trillion trading market. penalties could be coming down the pipeline. when new car right services like lyft, he might imagine that they would of approach local lawmakers to meet their standards. case, that is not how it works. they employ an army of local lobbyists. it does not always wait for a thumbs-up from officials. with me now is the former commissioner of new york's tax limousine commission.
wise of bloomberg businessweek who is a reporter .n uber it seem like they strong-arm their way into the city of portland. karen: it was this long slow burn, consistently telling the city that the city's current legislation did not match the business model had. a great job of getting rallying behind the company and getting lobbyist for this now a lobbyist who went to 's the half. their other key players and the city working in a very traditional way in city hall to try to get new regulations passed to recognize this new business model. this is what they have been doing around the country. a year ago, colorado became the first state to recognize
presentation network companies as a distinct category. 50 differentoughly jurisdictions have recognized an entirely new category of chance rotation services. it has been very successful in this air for -- effort. betty: who can blame them? frank was speaking, some of the laws that dictate and oversee transportation in various cities is quite old. as karen measured, you have to start updating them. if they are outdated, then why not go and make the rules themselves because it is service that customers want? matthew: it is the tailwagging the dog and now they are creating an army of lobbyists to create nonplayer does an unfair playing field. they are not a start up. they are transmission technology this unit -- transportation technology behemoth. these small mom-and-pop shops are not the companies.
these services are two or three or five cars across the country these laws set a certain set of standards which are more rigorous and more unsafe in terms of that ground checks in terms of taxes and limos. if they want a truly level playing field, why not amend all these lost in colorado ? care did great reporting on this issue. just make a level playing field. betty: what is a level playing field? matthew: it is the same exact standards fit to get a license to drive a vehicle whether it is it is themo, or this, same exact thing. as a passenger getting into a car paying money to get from point a to point b. why not a biometric back ground check which is more copperheads of and gets bad people off the road? they require that for a taxi and limo company, but not for uber. as karen said in her reporting, there is a army of lobbyists and millions of dollars being spent.
betty: companies employ lobbyists. we know this. , general, walmart electric, mcdonald's, they all employee lobbyist. matthew: there comes a point when it becomes overkill. what i have a problem with his companies going out there and saying that they are going against big taxi. it is no such thing as big taxi. there is big uber. quite friendly, i had trouble getting here is their 18,000 more cars on the street in new york city and it is making congestion work. se. look, they're here. giftederstand uber is let the little taxes computed let the insurance be cheaper. give them the same background checks, because there are incidents occurring all over the united states. that is why the texas bill is dead right now. it lost in texas because a couple of days before there was a driver who they had apparently missed a criminal conviction and
sexy assaulted somebody coul wh. why not? it $75. play by the rules as everybody else. say for at does it uber? karen: they say it is too high a hurdle to come in to have their party background check providers that are certified by the national background check provider agencies. they say that they actually catch taxi drivers who do not pass the background checks. it gets into the nitty-gritty of details. in general so far, they have been very successful in getting different states and cities to recognize or accept their level of background checks, for dental. i will flag that back in march that bloomberg did a great story about a large shallow company funding the political efforts of the taxi industry.
it is not to say that they are all mom and pop shops. there are large companies behind it. in the portland example which i focused on, there were a handful of companies locally owned. they did own in some cases more than 100 taxes. they were large. they didn't do their best to make their case. but they were not successful in them. uber has a data team insider policy team. i thought they did a very good job, or at least a persuasive job, and presenting data that showed demand in the city. that type of data they were able to bring and really use to a persuasive effect. did not do thery same type of data type analysis that i think a lot of cities are looking to see now. the just never quite got lobbying to the same level of sophistication it seemed at least in portland. betty: matt, i understand and i
know what side you're on obviously. is there not anything that uber is doing that the taxi commission could learn from? clearly, this is a service that i said before customers want. this is why they have been able to come to the cities and be successful. matthew: i am on the side of what is right and what is fair. i believe these new locks are legally deficient. have two sets of standards without any reason to differentiate between them. if it is a part-time driver, most taxis and limos are part time drivers. it is david versus geoeye. you cannot with a straight face say at this point that the taxi industry has any type of muscle or ability to compete with 29 or 30 lobbyist sitting on the capital. with thed out a report john jay criminal justice and chronologies are saying that what uber is saying is not accurate and not true. these biometric fingerprint on
much more accurate. they're just putting a name into a computer system. betty: it is not like we have not seen criminal activity associated with taxes. matthew: right. you want to reduce the risk wherever possible. we want one standard for all. betty: uber does have a standard, but is not fiction by the taxi commission. matthew: they are lobbying to have a different standard as to not compete with them. violation of equal protection under the law. there's nothing if that a taxi or limousine is doing that uber is doing. that is really the ruse that is being perpetrated against the public. they think that because they're are getting it quicker that it is safer and it is not. betty: how do you know that uber 's standards are not safe? matthew: the standards are not essay. betty: by whose account? matthew: by various experts in the field.
the secretary of home's security, the head of the inspector general's association. he did in independent report by the city of the university of new york with people who do biometric background checks every day. every taxi and limo driver in new york and around the country and in many states is required to go through this process where the government background checks them and the government makes the decision as to whether that driver is safe to drive you and me. what uber is doing is just going onto the internet and checking public records. they're not getting access to the federal database. that is the difference. we are not asking for a lot. betty: on a final note, is that true? karen: they are different. they are third-party that search database records. in portland, what they did is that the city decided to change the rules for both the taxi and the uber drivers for background checks. they can both use third-party
systems. part of that was practical. uber had more than 1000 drivers signed up in the city of portland. as a relatively small city to track 1000 background checks. everyone knew it would take too long or longer than uber wanted. that is why they were able to make a persuasive pitch to the city saying that new york city can handle a lot, but portland cannot handle that. when you look at cities of different size, they have different capacities for , forcing the regulations running background checks, for keeping tax on compliance. also in portland, they built an audit function where they can go back and and check the records of the background check of these fit how well they will do that -- we will have to see in the future. that is one cities approach and there are a lot of cities. in general, uber is getting what it wants. betty: thank you, karen. also, thank you matt for joining me on this. , hotrtainly is a hot topic button issue here.
welcome back to "bloomberg market day." i am betty liu. lowe's get to julie hyman for the big stories of the market as we are seeing red right now. julie: we are seeing red on the screen and it does not seem like there is a big catalyst downward. we are trading near records for the major averages. we saw a closer, bit of a pullback because of investors on greece. the dow has been down and most of the averages are down 173 points. you also get some insight into what is driving it lower. if you take a look at the function, you see a lot of red
as it is a broad-based selloff. in terms of groups doing the worst, materials, industrials, utilities good is interesting because it is spread between cyclical groups. we see the material group in particular. monsanto is dragging it down. the company coming out with earnings that actually beat estimates. however, the company says it is cutting costs this year. it is also developing plans to reduce its operating expenses by as much as $500 million to august of 2017. the application according to analysts is that monsanto expects the corn and soybean prices will continue to decline. one-timea boost from a time payment from scotts miracle grow. if you back that out, analyst still see weakness uprising could shares are down 4.5% and we are seeing a heavyweight between the group more broadly. they have been trending down over the past several years
after hitting a peak at the end of 2012. foreigners were drawn in by the -- farmers were drawn in by the prices inflate and work one which created a flood and push the price is down again. i've won the financials were weakened against the -- i mentioned that the financials today.akened they are trading citigroup added multiyear -- at a multi-year high. that is because the performance that we have seen and the outlook that we have seen his weaker revenues in the second half of the year according to analysts from deutsche bank. betty: thank you, julie hyman. ambitiousobama's trade pushes back on track after several near-death moments. that is thanks in large part to republican scraps do by him. the senate is expected to grant the president fast-track trading of shading authority this afternoon. the final passage will require only 51 votes. with congressional support, the trade negotiating som powers
would extend into many years. joining me now is phil mattingly and so is mark crumpton. phil, we thought this was all but dead about a week ago. what has happened here? phil: the padding what headlines whatead, testifying on headlines you read, the president was a lame-duck and had no power. what a difference a few days connected the key point is that when the president and the two leaders controlling the chambers in the house and the senate want something to get done, there's a decent chance that went to figure out a way to do it that involves a lot of procedural machinations here and getting commitments from senate democrats to go along with this. the big boat was last night. they were able to get the 60 votes to move the process forward. today should be an all done conclusion to the fast track
will be heading to the presence ask for signage by the end of the week. market talkit is about th. talk about the political damage. withabout his relationship democrats because they were tense moments when he went to the hill and negotiated for this and he was infected by members of his own party -- rejected by members of his own party? democrats since the start of president obama's term since 2009 have great behind-the-scenes that they feel the white house does not pay enough attention to them has taken for granted their votes and ignore them since they were in the minority since 2011. what you saw was house democrats saying that our votes mattered and you're going to have to work for them. is this going to be permanently damaging to the relationship between house democrats and the white house? i've told no from both sides,
particularly with nancy pelosi, who has long had a great relationship with the white house. this is a warning and one that i think white house officials i've spoken to recognize they need to keep. house democrats are not a sure thing many need votes. maybe it is a time for the white house to focus on care and feeding, even when the group is in the minority. betty: thank you, phil mattingly. he is on the hill for the upcoming vote. we will be discussing for the next half hour as well. mark: it is one of the things where the president needs were talking help for this. -- for pop can help for this. that is something that has not been forthcoming in his six years in office. he knew that democrats have problems with it. i knew that democratic senator barbara boxer was on the floor of the senate saint of the senate same as the last time she voted for trade commotion of authority that she felt like she got taken advantage of because some of the things in this are actually not as transparent as they should be. betty: they are all looking at
betty: we will be edged out by the millennial's in just a few years. welcome back. i am. what does it take to attract millenials to the workforce? companies more hours, have been clamoring for the secret sauce. according to a report, one company has figured it out. to talk now, we have julie. it is not any secret. google is at the top of list. julie: company you want to work
for is google. they looked at 240,000 business and engineering's didn't across the world and google was far and away the winter. betty: why? julie: millenial's what a purpose in the sense of the ability to innovate. when you think of google, your purpose is that everybody across the globe uses google. there might be a self driving car. definitely the ability to innovate. a sense of purpose in the work that you are doing. betty: that makes sense. there are other interesting companies at the top of the list. julie: for business, you have pricewaterhousecoopers. ernst & young. goldman sachs and to the list after coming in a and then kpmg. i was shocked that there were so many accounting firms. betty: what do you read into that? julie: business students and finance students, but i was in accounting and my least favorite class was accounting. betty: goldman sachs came in at what number? julie: number four this year.
betty: what about the difference between men and women? julie: for men and women, goldman sachs rank higher for men than women. you look at the big banks and there not many high-ranking female executives. then, you have the likes of moving forward to silicon valley from a big bank. thousand a change there. betty: thank you so much julie. much more ahead, we have a big hour ahead, talking about instagram challenging twitter. we will keep an eye on the markets, which are lower today as well. much more ahead on "bloomberg market day." ♪
germany's finance ministry as greece rejects its latest offer. traders getting information from online chat rooms?justice department is looking into it . mark: solar power may soon get it stay in the sun. will traditional power plants we left in the dark? betty: good afternoon. mark: welcome to bloomberg market day. it's begin with a look at wall street on this wednesday. u.s. and global stock heading lower today once again. investors keeping a close eye on greece, which remains locked with its creditors over debt.