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tv   Bloomberg Technology  Bloomberg  March 15, 2017 5:00pm-6:01pm EDT

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rates on consumer and business loans . it rose a quarter percentage point. the forecast is to more hikes this year. and the house intelligence bipartisan committee says they have seen no evidence of supporting claims that trump tower was wiretapped by the obama administration. jeff sessions also says he gave no indication to the president that his phones were tapped. the justice department wants more time to gather evidence. the president says his administration will restart a review of federal requirements for the fuel efficiency of new vehicles. he spoke with executives today promising to make it easier to assemble cars in america. and the netherlands exit polls suggest that the prime minister has one of parliament terry election, according to the ap, which is says anti-islam candidate -- has had a poor showing. the election was considered a
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measure of the spread of populism. global news, 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. i'm alisa parenti. this is bloomberg. ♪ i'm caroline hyde. this is "bloomberg technology." coming up oracle looking at third quarter results and the --h to the cloud pushing off paying off ,. and another twist in the yahoo! hack, u.s. officials blaming u.s. intelligence -- russian intelligence. ban,ally behind the travel we will speak to a standout leading the fight to block it in
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the courts, the massachusetts attorney general. first, we go to our lead, stocks near record highs after the fed has raised rates. facebook, google and and another stock we are watching, that is tesla. the company and often they are --sing 1.15 billion dollars $1.15 billion in convertible notes. cory johnson joins us now to break it all down. signaling thes fourth quarter. cory: they are burning money like crazy, burning to hundreds of millions, nearly a billion in the last quarter. and he is buying a little bit of stock. he sold stock last year, so he is trading his own stock and that is an interesting thing.
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$1.2 billion is not a lot for a company that burned about $160 million last quarter. they have announced capital expenditure plans before july to spend another $2 billion and that is to get them to there. it is not a lot of money for a company that does not need a lot of money. and they might have to come back again. caroline: but the share price on the back of it, trading up 2%, what is the relief? that it is being announced and probably smaller? cory: it is a lifeline for a company that has enormous challenges ahead of it and needs money to get going. have at that they quarter, that is good, that is a start. they have a lot of what to do. and a lot of money they will need to spend. it looks like the results that we saw in the previous quarter, the quarter before that, that
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really a one-time phenomenon of not paying suppliers and a stretching out payments and they cannot pull that trick too many times. caroline: they do want to get paid. particularly when they are coming on this with the model three, that is where the money will be used in particular. the big push. elon musk said it would bring them close to the edge, that is the phrase he used. the model three is where the investment is going at the moment. cory: i am sure there are interesting tidbits when you read the filing, but it is a curious time for the company because they are going from this niche maker of very expensive cars for very select people, to a much bigger thing. they say they will sell them for $35,000. and the equipment that they are getting, they are leasing and not buying, so expenditures may not need to be as great. even $2 billion spending for the first half of the year would not
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be enough to really build the automotive manufacturing facility with the capacity for a audi or so on. caroline: we are getting an update to the big picture and really bloomberg saying this is going to cushion the balance automakerhe youngest and helping it round out. it is not just an automaker, this is a company that is making batteries, elon musk making sale after sale. cory: the batteries have been a big disappointment. what we see is over $100 million with only $300 million revenue, so it has been much worse than with the predictions where when they announced the battery business. and furthermore, they have solarcity, it is a tire fire. it is a disaster when it comes to cash flow. and they have a burning hunk of tires, to this tesla business,
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they are burning the cash so aggressively. caroline: it is a stock that since theto -- ever election. it is up from what was a low of 182 in december, so clearly somebody out there is liking it. and seeing the optimistic side of the story. cory: it is good to know that is going on. caroline: thank you. our bloomberg editor at large, cory johnson. the u.s. government pointing the finger at russia for another high profile cyber attack, the justice department charging to russian agents and a pair of hackers in a scheme that included the 2014 breach at yahoo! that affected half a billion users. they explained the charges in a news conference earlier. >> they targeted yahoo! accounts of russian and u.s. officials, including cybersecurity diplomatic and military personnel. they also targeted russian
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journalists, numerous employees of other providers whose networks the conspirators for -- sought to exploit, and other commercial entities. caroline: for more we are bringing in mike riley. an amazing story you have turned out. it is part of a broader investigation, not just about yahoo!. what wasn't covered about the backgrounds -- was uncovered about the background of these people? mike: it is sort of the russian equivalent of what was released in 2014 against the chinese hackers. it is their effort to paint a picture of how russian intelligence is corporate with criminal hackers that help them hide intelligence gathering operations and help them be much more effective than they could be on their own. it is a picture of what happens inside yahoo!, they got access to internal systems that allowed them to basically create
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encrypted cookies on the machines and therefore access the user account anytime they wanted over a period of years. they have indicted two fsb agents, these are basically russian spies. and to criminal hackers they say were handled by the spies, given tasks, told to go and get information on critical are people inside russia and outside of russia and when they came back with information they were paid. caroline: what is fascinating mike, is, of course this is something that was spearheaded a while ago, but now this has been followed through and completed by donald trump as president, somebody who has been offering olive branches to -- branch is to russia. is that a hindrance? mike: it will be played out over the month. some have said this was left by
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the obama white house. up, but it all teed they did not pull the trigger on it before they departed the white house and they lifted for donald trump to make the decision. it would have been hard, if you think about it from a political point of view, if you are donald trump not to pull the trigger on it. it was well documented. but if you do, then eric -- there is a possibility that it is hitting reset with russia. putin will not hand spies to the u.s. government. and i doubt people in the kremlin are happy this is going on. the question is, what is donald trump going to do now with the effort to build a new kind of bridge to russia? caroline: it does pull back the curtain of what russia has been doing in terms of using the legal criminal -- illegal criminal hackers. does adult anymore -- does it
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delve anymore into the russian hacking leading up to the election? mike: officials say the cases are unrelated, but they are related in the way you suggest, that this indictment is detailed and it does pull back the curtain on russia's entire cyber operations, especially one of the unique aspects, the way they use cyber criminals in order to do things for the intelligence agencies. in one of the cases, one of the hackers, there was evidence emerging that they were doing illegal acts in cyberspace and rather than prosecuting them, they used it over there had to say either you are going to go to jail or work for us. and they became a recruit that helped operations on a global scale. caroline: mike, just painted forward for us, we have one person actually put in handcuffs and arrested. two of them still in russia. what will happen now in terms of the investigation?
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mike: they at least have one in hand. but we do not have the extradition treaty with russia and given the fact we charged to russian spies -- two russian spies, it is unlikely we will ever have them in the hands of u.s. officials. there is an interesting twist, which is the two russian spies were also implicated by russia themselves in treasonous acts a couple of months ago. so one of them is in a prison right now in moscow. everybody assumed, maybe one of them was related to the effort by the cia and other u.s. intelligence agencies to basically get information on what russian hackers did it during the election. now with the latest twist, the fact that they were arrested a couple months ago, are implicated in this case, maybe russia got a sense this was coming and they picked them up as a way to figure out what they
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knew, and what they were vulnerable to, and what they may have done in terms of communications with western officials. caroline: fascinating story. you can look at it online or on the bloomberg. mike riley, thank you. and we are watching gopro spiking after the company announced a second round of job cuts. gopro already slashed the workforce in november. now they are cutting another 200 positions. it is meant to reduce cost, criticism that the camera maker can return to growth. they said the forecast for the first quarter revenue will land on the up and of its guidance -- end of its guidance and it will make a profit this year excluding certain items. we have more updates later in this hour. coming up, stocks moving the benchmark rate is hiked by the fed. and some standouts in the tech
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sector. this is bloomberg. ♪
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♪ caroline: oracle reporting of their third-quarter results, beating their topline it with revenue over -- and moving higher. here to break it down we are back with cory johnson and the chief research officer at idc. resounding like revenue. growth in the cloud is where it is at. dividends willhe help the stock price. a few pennies. they will take it. what is interesting is one of the most interesting growth stories was there double-digit
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rates. what is a researcher service, it is like amazon web services, microsoft, the google cloud business. oracle is competing in the same space and is saying strong growth -- seeing stronger and i think it is powerful for this company. it is interesting that amazon is competing with these guys on the database side, so you have really unlikely competitors for oracle right now with amazon and the web services business and i think it will be part of the conference call playing right now. caroline: we will get headlines out of that. saying that the past platform service, there is a trend of 80% over time, the jerome -- general margin. now we will take it over to crawford. in a key standouts for you -- any key standouts for you? where else do you think it started when out, because -- starting to win out because
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others have said this is a fad, this cloud thing. >> we are on the receiving end of those questions from larry. but the problem -- up at the bottom line is, what i thought was fascinating was the opening comments, the way they model the cloud revenue, it will be larger than their new software license revenue for the entirety of next year. so basically they are hitting the tipping point this quarter when you model it forward. isbasically says that this now a part of the business that is moving the needle for the entire company. you see it in the 3% topline growth that they are delivering. and i think that the seminal moment here is i spend so much time talking about the four horsemen, as well as all the large companies that are struggling for relevance as we move to this new era, and at this moment is oracle making the
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bed that they are relevant -- bid they are relevant and given the high double-digit bookings, we are still looking at this in the cloud, compared to competitors, this is going to accelerate overtime. interestingly, oracle is going to matter more in the future and not less and that is not a position a lot of the large tech companies have right now. frankly, none of them can say it. caroline: amazing that a lot of these companies left for the dust when it came to cloud have made huge leaps and bounds. up,: they have also built probably more acquisitions focused, others try to figure it out with the cloud. but there acquisitions, trying to get big. they recognize the cost of the companies right now make it silly to do these acquisitions, because they are getting huge valuations and now is on the time. caroline: ivf? -- ipo? cory: right.
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and oracle wants to build as much as they can. this had a depressed valuation because of larry ellison's stake in the coming, making it less likely people can buy it. caroline: any headwinds yet to come? we just heard from the ceo, mentioning the strong dollar and they expect more of the dollar to take a hit going forward and the strength remains, but any clouds in the silver linings? crawford: great choice of words. i think the headwind will be the salespeople continuing to grow, particularly in the market. and i think one of the most interesting stories will be the headwind they will have less of in the future, why this is an interesting come in, they have been continue with amazon -- what company could actually build out the datacenter capacity to start to compete with the infrastructure service and the cloud service -- that is
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oracle. you have seen that they are high historically, and it is not coming down as a percent of the total. you will see that, they are really going to focus on the gross margin expansion, disciplined cost control going forward and revenue expansion as the bookings translate into revenue. it says one of the headwinds may have had over the last year they will have less of, the cap x associated with the building the centers to powell -- power their cloud. it is an exciting moment for the company that they are seen that payback of. -- seeing that payback of. caroline: thank you. great analysis of the earnings. and meanwhile, the u.s. stocks across the board driving after fedfederal registe -- raised interest rates. abigail doolittle is taken a
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look. the fed raised rates and signaled that two more are likely to company give us -- likely to come. give us the inside route. abigail: we saw a broad rally on this, the right message for stocks and interestingly bonds. they like the fact there are lonely two hikes on the horizon. the dow and s&p 500 and nasdaq all had their best day in two weeks. the s&p 500 was of the most for the major averages. not surprisingly, the best sectors beating technology where those rate sensitive sectors, real estate and utilities, they tend to rally when those rates go down. in the broad scheme of things, tech was up, but not as much as some of the other sectors. isther way to look at it volatility, we have been talking about the lack of volatility. it plunged more today for the s&p 500 vix relative to the
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nasdaq 100 vix, which was also down, but not down as much. so tech was up. not as much as broader industries. caroline: so we will dig into some of the records. there were some notable records being made by the tech giants. abigail: apple had another record high. yesterday we mentioned it, but apple having their best day in about two weeks. goldman sachs with the iphone shipments looking stronger than expected. and it could boost estimates and in turn this could boost revenue growth even more. it has been the big story, the return to revenue. and we take a look at the chart on the bloomberg, a five-year chart of apple. two points, the technicals looking similar to 2012 and the 2013 when there was a drop on the iphone 5, and then a huge rally on the upgrade cycle.
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we are looking at something similar right here. is it just there could be upside -- suggests there could be an upside for apple in the long-term. and this suggests shares are over, so perhaps we will have pullback in the near term. near-term, pullback. medium to long-term, they are looking bullish. along with the suppliers. caroline: brilliant. abigail doolittle, we love having you on the show. coming up, dutch voters going to the polls and high profile twitter account hacked. details on what twitter is doing in response, that is next. this is bloomberg. ♪
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♪ caroline: a number of international twitter accounts have been hacked and it is linked to turkey. they contained content supporting the turkish president tayyip erdogan. they said "nazigermany" and
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"naziholland" for hashtags. twitter says they are investigating and his shares of the company fell 3% on wednesday, the most since february. and intel under pressure for the session as well. on the stock,ng the first downgrade in 10 years. and analyst wrote that intel is a better company than stop -- a stock. we talked to the ceo and cofounder of rubric. what the immigration order from president trump means for the tech sector. this is bloomberg. ♪
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♪ alisa: i'm alisa parenti. you are watching "bloomberg technology." let's start with a check of your "first word news." a judge in hawaii expected to rule on the revised travel ban before it goes into effect at midnight. of the lawsuit claims it hurts
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hawaii by highlighting the dependent on international travelers its ethnic diversity and reputation as the hello hostage. a requests denied from native americans to stop oil from flowing through the dakota five ipad while they repeal -- dakota pipeline. it likely clears the way for oil to flow next week. and south korean prosecutors tend to question the ousted president next week about the corruption scandal that removed her from office. her impeachment cost the former president immunity. a new election will be held for her successor on may 9. and the u.s. drawing up plans that would deploy up to 1000 more troops into northern syria, according to the washington post. citing defense officials familiar with the matter. it comes ahead of the offense of to retake the capital. and the family of a ship captain taken hostage by somali pirates has released photos of the
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missing sailor. he is one of a crew men captured after their ship was hijacked on monday. the first seizure of a large commercial vessel in those waters since 2012. global news, 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. alisa: i'm alisa parenti. this is bloomberg. p.m. inst after 5:30 new york, already 8:30 a.m. thursday morning in sydney. we are joined by paul allen with a look at the markets. paul: good morning. we are off to a roaring start in new zealand firm -- for the fed decision, futures are pointing higher in australia, better than happy percent right now. and we saw the aussie dollars bike after -- spike after the decision. any change to the cash here and i'll still yet in terms of the
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upward -- in australia in terms tricky because of the level of household debt. bank of japan holding a meeting today, but we do not expect any change in there. and the features are looking mixed. we are looking at cap a specific shares. the airline announcing their first net loss in eight years, $74 million, hurt by the falling yields in the passenger department. i'm a paul allen in sydney. more from bloomberg technology, next. ♪ ♪ this is "bloomberg technology." more than 50 tech companies have filed briefings against the revised executive order on
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immigration including dropbox and airbnb. the latest ban prohibits travel from majority muslim countries and is set to go into effect on thursday. it is being challenged in the courts in maryland and hawaii. we go to hawaii where we are joined on the phone by one of our journalists. we are getting breaking news that the judge will issue a ruling later today. can you bring us up to speed? 90 minutesn the last or so, the state of hawaii and the justice department argued over whether the president's hasms during his campaign called for a nationwide muslim ban and a registry, were sufficient calls for discrimination. the plaintiffs have argued that the intent, in spite of the fact all references to religion have been taken out of the order, the intent is still discriminatory.
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the justice department responded by saying, he was an individual citizen campaigning for president and now he is imposing a policy that is invented by people who are nothing to do with the campaign, who did not make this commitment rate comments -- make discriminatory comments. and they also addressed hawaii's claims over standing, whether they have the right to make any of these claims. the federal government says hawaii will not be directly harmed and another of the citizens are being harmed. they could be families who are perspective refugees who want to gain entrance into the united states, but they do not have constitutional rights to sue in the courts. and the judge heard the arguments, initially offered some concern over the religion argument, but has said, wait six more hours and we will come back with a ruling. caroline: meanwhile, the seattle
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judge is weighing the arguments as well. i am bringing it to a tech focus. airbnb,ology companies, square, you name them. they are weighing in. interesting some of the heavyweights were not behind a thatr, off of that, also -- google, amazon, they did not sign it. what was their view? reporting: they weighed in on the initial executive order. they have expressed their view, or they believe there are arguments to make over the religious dissemination, so that on the face of this executive order it is going to be very difficult to claim that there is a violation of due process or the right to practice religion and they may want to distance themselves. as you said, there are almost 60
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companies that have expressed support for hawaii, so it is not like silicon valley is remaining silent. caroline: reporting from hawaii, kartikay, thank you. coming up, we speak with the massachusetts attorney general, a leader in the fight to block the travel ban. and will 2017 be a big year for the tech ipos? we have seen some debuts, the volatile one of the company snap. earlier we spoke with the khosla ventures and the ceo of rubrik. which is on the line up for lyft. >> what we are seeing is the high-quality company is with a
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real business model and sustainability, with a long-term sustainability, those are going public. not every public -- not every company is going public, so the bar is high, but we have a number of companies that have and aigh quality revenue, product getting into the market place. >> when you have your viewpoint on the chief executive of rubri k, you look at these companies following snap, is it time for rubrik to look at those public markets? >> we are probably two years away, but we are building a company to become a public company and long-term sustainable business. i think the fundamentals of enterprise business and selling into larger parts or the larger end of the market, and deriving seven figures, or eight figure
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deals, that is more than the -- that is what drives the enterprise business. we are focused on fortune 500 companies where they have a real need around cloud and around management, data security, and where that will be placed. caroline: when you are looking at those company, we have juggernauts who already have a proven business model, already international, uber, dropbox, airbnb -- so what needs to happen? do they need to come to the market? is it up to the investor to say, the time is now? or do you like those companies remaining private. >> that question is entirely up to dodger for near. -- up to the entrepreneur. you need to be predicable, set out those long-term goals. companies like rubrik change
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strategy continuously, they are a young company. only three years old. you want that flexibility to change and with private investors it is easier to do. when you get to a highly predicable stage, then the entrepreneur can choose to go public or not. we support entrepreneurs and their choice. caroline: you do not apply pressure? >> no, not really. it is the wrong thing to do, to apply pressure. caroline: you do not need exits? you must have your own needs? >> i am proud of the fact we do not worry about exits. they happen when they happen and they happen often enough. we almost never worry about it. i have a role, if -- rule, if somebody talks about exits when we are investing, we will not invest in that company. that is the wrong approach to building durable large companies. think about the exits.
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i would rather have them building a large company for the long haul, and whether you get liquidity in a year or in four years, it does not matter. if you are building real value. caroline: you are saying before, you are an optimist. we have clout as a driver, data as a driver, i want to know about the environments in silicon valley right now, whether they foster optimism or not? and perhaps when it comes to the travel ban, i am sitting here with to determine -- two gentlemen from india, and i am british, so do you worry about this? >> i do worry about it. if people started company and they move operations to india, we are starting to see more people talking about building outside because if they cannot acquire the talents here, there
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is global competition. canada is dying to get more of this talent. and just the national foundation for mac and policy issued a statement that said, 83% of competitionsience were born of immigrant parents. 83%. the well educated immigrants, they renew a contract, and countries that have gone into places like japan did so because it was so insular. i believe it is a huge advantage, it has been a source of growth in america and the source of vibrancy. caroline: but headquarters in silicon valley with, but growing internationally. is it something that worries you? do you look at hubs elsewhere? >> for us, the way we look at it
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is the politics and in these kind of rules will take care of themselves. i believe the fundamentals are very strong in america, we have the rule of law, we have a structure that fosters innovation. phenomena,his as a where over time things will take care of themselves. we go international, we do business in 30 countries right now. and so far we've not seen headwind in growth or any kind of backlash because of it. caroline: have you deployed or used -- >> we saw it on a case-by-case basis. obviously, it is a challenge because there is -- and very few people can get it. we take a strategy of where we get talent from and how we can grow the talent pool, and where and thent of the --
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number of applicants available and things like that. but we are thinking about the business as a long-term self-sustaining business with marketing around the world and we're looking at innovation and thinking, how can we continue to drive innovation and bring people together on the mission to grow change, from a cloud world? where exciting the most geographically? what are you keeping an eye on, not silicon valley? >> outside of silicon valley there are exciting things going india,urope, israel, china of course is a whole different beast. we tend not to do a lot in china, but there are interesting things happening. caroline: why not? >> we just have a geographical focus and is so we feel like we
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do not understand how to do business in china. caroline: and that was the founder of khosla ventures, and the cofounder of rubrik. the revised travel ban is facing pushback. we have a massachusetts attorney general leading the charge. that is next. this is bloomberg. ♪
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♪ caroline: we are back to our conversation on the travel ban. the massachusetts attorney 'sneral standing behind hawaii attorney general, who was in court. we just learned the judge and court has reserved his ruling, but is waiting to issue the order before the ban is imposed
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at midnight. joining us from boston is maura healey, thank you for giving your time today. first of all, as it stands in its second iteration, why is the new executive order still defected? maura: it is still discriminatory, it is a muslim ban. and more than being unconstitutional, what this also is is something that is causing a tremendous amount of uncertainty and creating real harm for businesses, research institutions, colleges and universities, and for major tech companies across the land. that is one of the reasons why when we filed suit and we renewed our lawsuit earlier this week, joining with hawaii and washington state and others, we were standing alongside us, the leaders from tech community and business, saying that is wrong. caroline: you mentioned, you say
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it is still discriminatory, but a lot of that thesis is based on the past statements from the election campaign, made by donald trump. how do you distinguish about what was said in the past and the current writing in the executive order? maura: he still has created a serious issue and denying visas and creating uncertainty about whether or not the visas will be renewed. let me tell you what it means. we have tech companies in massachusetts who are employing employees that have these is, they do not know whether the visas will be renewed. we have students at major research institutions like mit, who do not know whether or not they will be able to stay on and continue their research, their fellowships. we have serious issues, not only about who is going to be allowed into the country, but this order
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creates problems for those already in the country, working and creating a vibrant tech community, in particular, those interests are at risk. that is why i've spoken with leaders in tech and research who say the order is that for us and it needs to go. caroline: boston is a thriving tech hub, and you talk of harvard and m.i.t., such an area of growth in terms of the tech that is needed and the talent needed there. what will the businesses do if it stands? do you know what the alternatives will be? maura: they are standing with us and a challenging the discriminatory travel ban. not only is it unconstitutional, it hurts the businesses and research institutions. i will give you examples. speaking with the heads of major hospitals and research institutions, they right now do not know if they can go ahead
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and bring over the research fellows that have been hired, the professors hired, who want to come and do scholarship here. they have researchers and professors who work for them who they do not know if they can keep them on, because they do not know if they will be able to fill contractual obligations, given the order. it is creating havoc, tech and life sciences, biotech, they are the driving force in massachusetts and in our economy. they are a driving force in other regions of the country, you were talking about silicon valley, this hurts and it has an economic impact and is why you have seen states come forward and to challenge it, but you have also seen major businesses and major industries come forward and say, this is wrong. not only is it not american and consistent with who we are as a nation, you think about the amazing companies that have been
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built by immigrants. it is also really counterproductive and harmful to the business interests. caroline: is it unconstitutional? maura: absolutely. i think our arguments are well made and they have been heard in multiple courts today and i'm glad we will soon see a decision from the hawaii district court and other cases are ongoing and we will continue to press ahead and fight it to the end. because it is unconstitutional. caroline: i will ask you again because you mentioned what happens if, but if the challenge does not work are there any ways in which you can legally bypass the executive order? maura: unfortunately immigration issues and the control of people coming into the country is really something that is controlled at the federal level and it is why we are challenging it, to say the right thing needs to happen. no policy or president is above
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the law. we really are looking to the courts to uphold the rule of law and the constitution. we will wait on the decision, but stand ready to stand up for the residents, businesses, industry and our state and across the country. make no mistake, the president has issued a second order, and it is as faulty as the first one. he changed provisions and took things out, but it does not change the fundamental flaws with the order, which is that it essentially is discrimination based on religion, based on national origin, and more than that as you know, national security experts have discredited it to say this is not what you're looking for. caroline: ok. maura healey, thank you very much. we appreciate your time. thank you for joining us from boston. coming up, the general motors -- on the trunk -emissions-
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on the trump emissions standards. this is bloomberg. ♪
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♪ trump in president michigan on wednesday announcing the white house will re-examine field economy standards -- fuel economy standards. ceo inht up with the gm michigan near ann arbor. >> what would happen is we would not be able to give customers the choice we give them today. they choose if they will purchase in -- an suv or vehicle. we are full range and continuing to invest in the lt, 238 miles, we talked about it in the past and it is doing well. is doingolet volt well pit we are making the investments -- well. and we're making the investments, but in the end it is consumer choice. there is more change happening
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right now then has happened in the last 50 years. when you look at legislation five years ago, before there was sharing, or before we were talking about autonomous, to be data driven and look at the right standards, how can we improve the environment in the most effective way, that makes the most sense. it is what we agreed on in 2012. caroline: and that was the ceo of gm, mary barra. that does it for "bloomberg technology." this is bloomberg. ♪
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>> from our studios in new york city, this is "charlie rose." >> good evening. i'm jeff floor filling in for charlie rose trade we begin by taking a look at the gop health care bill. a budget office released its assessment of the house republicans health care proposal, known as the american health care act. the report found the bill would reduce the federal deficit $337 billion over a decade but also would leave 24 million americans uninsured during that same period. this will likely complicate a party's efforts to repeal and replace the affordable care act traded joining mfr


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