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Bloomberg
Nov 10, 2014 2:00pm EST
regulation the federal medications commission. continues his visit to china where he talked trade and the economy. mr. obama arrived in beijing for the asia-pacific economic cooperation forum. the president will try to boost talks on a specific trade deal, the agreement covers 12 countries but not china. this was the president must first stop on a weeklong trip to asia. dealing with a frenzy of online shopping is china marks singles day, the popular date of november 11 represented ones.r day, tome to join this make this a big day not only for china but for global consumers. >> singles day 2013 was a big one for alibaba. bigger than cyber monday here in the united states. it is a signal the turnaround plan is gaining momentum. mobile sales fell .5%. analysts were looking for a drop of 2.2%. the midwest is getting hit with heavy snow and minnesota is preparing for between eight and 12 inches of snow while chicago is expect to earlier than usual winter weather. it also means flight delays over the next few days. that is a look at the top stories we are following this hour. more on this w
Bloomberg
Sep 19, 2014 2:00pm EDT
dream. what if that dream comes true? ago theieve 15 years internet is going to change china and improve the world. whether you believe for not, somebody will succeed. if you don't work hard and work every day, nobody has a chance. i never knew we would be here today. >> joining me now from the new york stock exchange, leslie picker, she has been following the story. alibaba's ipo is trading at around $90. tell us about investor demand. >> the demand was certainly there. funds from these banks, which is more than 50% of the allocation. that is a very concentrated deal. if you did not get in at the wantnight, if you really access to this company, the most volume will be traded as a public company. >> jack moss spoke with emily chang. tell us about jack ma and his evolution from where he began and where he is now heading up this company with the largest ipo. >> we are talking about an english teacher who started alibaba in his apartment 15 years ago. now he is the richest man in china. on the floor of the new york stock exchange, the biggest ipo in the u.s. ever. potentially the la
Bloomberg
Apr 24, 2014 2:00pm EDT
campaign year-over-year with margins just under eight percent, growth in china earnings were up just under nine percent. when we look at our expectations and the performance we saw in q1, broad-based performance across. >> the recall is something already everybody knows about, today, stock falling down about 1%. if you look at the last year today, they've taken an even bigger hit, down 17%. >> what should investors be looking out for going forward? >> there are a couple of concerns for investors. far asworst behind gm as the cost related to recalls? investors don't believe one point $3 billion is going to be enough. is a going to hurt sales going forward because in the last quarter, you didn't have the recall effect on consumers minds stillh all stop they were buying a ton of silverado's and impalas. they are great cars, but will it hurt your brand? has the corporate culture changed? you heard mary barra saying new gm, old gm, so is there really a difference? do they get the message and have they changed the way they operate the company? >> tank you so much. more on gm is coming up with br
Bloomberg
Nov 11, 2014 2:00pm EST
until november 14 area the u.s. has struck an agreement with china. the deal could eliminate a trillion dollars and paves the .ay for a final agreement investors continue to push for a bilateral treaty with china. >> a bilateral investment treaty with china would be the stepping stone beyond. itwould allow us to complete by picking up the sectors untouched, removing investment barriers, and having further openings. say, for example, financial openings. 38%he company says it saw a in the fiscal fourth quarter. it is the largest homebuilder in the u.s. by revenue. 20,000 for the sold-out flight. dedicated butler. an airbus superjumbo in london beginning december 27. that is a look at today's top stories. there is a lot riding out of fort's new f1 50. it makes up 40% of the car company's annual profits. today, it is rolling out a new aluminum bodies version of the company. matt miller has been having a terrible day, slaving away on the factory floor for us. i know you are having a lousy time. unless they are hoping to sell a lot of these. the f series has been the biggest selling
Bloomberg
Mar 11, 2014 2:00pm EDT
herbalife and china. toso far, he has not gone the china situation. he will be presenting documents he says proves the government -- the company is violating the law in china. herbalife has lashed back out .gainst his allegations he has been saying the company is a pyramid scheme and the new york times did an extensive article yesterday that went through the links to which mr. ackman, in terms of trying to influence washington and groups around the nation to try to shore up his case. herbalife has spent a lobbying effort. on the call, he has talked about his support of these various efforts was on the up and up. he was mostly responding to the new york times article and had not turned to the situation in china. >> what is the genesis of all of this? >> it is one of the big growth areas for herbalife. the company has been expanding around the world, has made a lot of inroads into latin america. china could be the next big area of growth. his case is the company is a pyramid scheme and presumably, he will make the same case that is happening in china as well. >> julie hyman, we will let you g
Bloomberg
Jan 21, 2015 2:00pm EST
making headlines on this wednesday. scarlet fu will join me for a roundtable on china's economy. peter cook is on capitol hill with the fallout from president obama's state of the union address. good afternoon. >> the afternoon, mark. the president from a confident president obama clearly energized by the strengthening u.s. economy 5% growth rate we saw at the end of last year. energized by the 50% approval rating he has gotten in recent weeks. he reflected that last night. he spoke with some bravado taunted republicans to some extent with his two presidential election victories. he outlined a number of ideas, many of them floated before he spoke that were quickly rejected by republicans. his plan to raise taxes on the wealthiest americans in order to provide tax breaks to middle income earners. john boehner called it fantasyland. >> all the president offered last night was more taxes, more government, more of the same approach that has failed the middle class for decades. these are just wrong policies but they are the wrong priorities. >> john boehner might not have liked what he hear
Bloomberg
Feb 4, 2015 2:00pm EST
is seeking investments from china. the president sent to the country for a four-day visit signing 14 agreements for the chinese president. how bad is argentina need chinese money? >> it's the second biggest trading partner after brazil. they are basically aiding argentina in many ways. they are investing $5 billion in hydroelectric dams. if you go and write on the subway, all the writing is in chinese characters. these are old trains from china. most recently and most important, they have gotten an $11 billion currency -- they can draw on currency from them to boost their reserves. they have gotten 3 million since october. if you look at argentina's foreign currency reserves, they have been on the rise since then. they have had the biggest amount of influx and currency from them since 2008. >> let's flip the coin. what is in this for the chinese? >> they need a strong foothold in latin america. they have been doing this throughout the region with argentina and ecuador and venezuela. they need to feed their people. they are the biggest market for soybeans. they're helping to delive
Bloomberg
Mar 10, 2014 2:00pm EDT
expanded the search area today, pushing the hunt into the south china sea. so far no success finding evidence. oil slick's investigators were looking at turned out to have come from a boat, not a crash. here is what we do know, the jet we are talking about was in route to beijing from kuala .umpur most of those on board were chinese travelers. there were three u.s. citizens. authorities say two men used stolen passports to board the plane. authorities say they have identified one of the men. also five passengers who checked into the flight but did not board. malaysia airlines report baggage was removed before take off. this has fueled speculation of terrorism that at this point than more questions answers. >> is there a possibility we might never find out what happened? >> certainly a possibility. since 1970 authorities have managed to find planes boston .ire -- water smiles the experts say the technology is absolutely there. the waters around where they believe this plane went down are pretty shallow, about 50 meters deep. plane case of one other like this, air france flight
Bloomberg
Apr 27, 2015 2:00pm EDT
with china and india. it does a lot of business with both of those countries. more than half of nepal's imports come from india. 45% come from china. if you look at exports, more than half goes in india and china's share is smaller but still significant. hydroelectric power has been growth for nepal. there was an expectation we would see more deals like that going forward. mark: deutsche bank is a major overhaul. reduce annual costs by 3.8 billion dollars. it will strengthen the security business, close up to 200 branches, and reduce some overseas operations fair the bank ceo told bloomberg's hans nichols what the bank would eventually look like. >> will see stronger inequities than today. you will see a considerably stronger corporate finance than today. probably a smaller fixed income house. less transaction and more advisory. mark: investors are not impressed. shares falling. 45 billion -- $45 billion offer. it says the offer is too low and does not deal of problems of combining the companies with different cultures. it is committed to his $33 billion offer for the irish maker of sto
Bloomberg
Mar 2, 2015 2:00pm EST
bid, trying to say about 10% on their sourcing costs, and if you go to china to get a low bid, you are going to get some tainted products, so either they knew or should have known. >> you have had a short position on the company since 2013. what have you seen? >> initially, i did not know about the formaldehyde. there was another part in their chain where a report came out that i've read. i had nothing to do with a report, but it showed they were buying hardwoods that were harvested illegally in siberia by the russian mafia and smuggled into china, and lumber liquidators was buying it, again, saving about 10%, and that was something i went public with, and then low and behold, month later, someone came out of the woodwork, who was very smelly with lumber liquidators and laminated wood coming out of china, saying that story was correct, but there was a bigger story in that they were poisoning their customers. >> three chinese factories admitted to using false labeling that made it look like it met regulations. you just mentioned the contention that lumber liquidators did not know th
Bloomberg
Jul 29, 2014 2:00pm EDT
. ♪ >> coming up, if you are in china, and you are craving a week max, quarter pounder, or chicken mcnuggets, you are out of luck. in most out of stock places in china. we will tell you why. ♪ >> if you want a mcdonald's burger while you are in china, you will have to get one made of fish. mcdonald's has removed beef, pork, and chicken after a recall. macsn also see bic eliminated from mcdonald's menus here. yang, this hits close to home. company. american >> that is right. they are based in aurora, illinois, 25 miles from mcdonald's headquarters, and they are the company under fire here, osi, and it was their subsidiary that was caught on the famous video clip mishandling and repackaging led, as you, which said, two major restaurant chains, mcdonald's, kfc, and starbucks from pulling these from their menus, and the issues uncovered are absolutely inconsistent with their internal requirements, they have said, pulled theme since from their global operations. osi now has to rebuild trust with an already skeptical chinese market. >> if they are an american based company, how safe are the big
Bloomberg
Feb 12, 2015 2:00pm EST
is going to look for automakers in china. >> red is my color. >> red is a very lucky color for chinese. tesla wants to get into china big-time. why? >> it is the biggest market in the world. there's over 1.3 billion people. china is spending a lot of money, doing a lot of r&d, spending money to get people to buy electric vehicles. a lot of cities are very polluted right now. >> i want to see how this baby drives. if you think china is such an important market, what are they doing since they have such a massive pollution problem? >> they are not only subsidizing purchases, they are spending a lot of money on r&d to standardize the charging infrastructure, the battery technology all sorts of technology. >> are there any competing technologies right now? asked definitely. fuel cells have been catching on . we believe phil -- we believe you'll cells will take longer to be adopted. there is always a concern with safety. fuel cells use hydrogen as a main source of fuel, a very volatile fuel, so a lot of work needs to be done to get the consumer comfortable with having hydrogen in the
Bloomberg
Dec 9, 2014 2:00pm EST
tighter lending roles -- rules and china will slow growth. the s&p 500 is seeing a second day of losses and the stocks slid more than 2%. the shanghai composite index plunged more than 5%. larry think remains optimistic. he says the equity markets are cheap and that corporate profits are keeping pace. >> despite this dramatic increase in prices, we are fair value to modestly above fair value today. we are not at the levels we saw in 2000. we are not seeing the same pes where you had true bubbles. >> boeing is cutting production , thes 747 eight jumbo jet third cut announcement in less than two years. more efficient models are eliminating the need or four engine aircraft. abercrombie & fitch ceo and founder mike jeffries is stepping down immediately. he has been under fire as abercrombie lost relevance with teenage shoppers and profit tumbled. the board is looking for a new chief executive. investors -- shares were up more than 6%. mcdonald's bets on custom food. the restaurant chain will be expanding its ilk your own burger concept in a bid to live were more millennial's. the move is pa
Bloomberg
May 2, 2014 2:00pm EDT
increase in international business -- all of the emerging nations, china, mexico havee and increased their visitation to las vegas. the growth in las vegas has come from non-gaming and in the gaming sector from international business. >> staying on the topic of gambling entertainment -- gambling entertainment -- gambling and entertainment. the kentucky derby will be held in louisville this saturday. joining me on the phone from churchill downs is the president and ceo of the national throw bread racing association. welcome to bottom line. overalllk about the economic condition in this country. -- does that impact adding? impact betting? >> wagering is insulated from the impact of the economy. there was a downturn in the purchase of racehorses. it has dipped somewhat. we have seen about a 40% decline since the heyday in 2006. the old adage that gamblers are not affected by the recession has changed in the last four years. we have stabilized and are headed back. we are not quite where we were in 2006. >> how is online wagering affected the size of purses? >> online wagering is the bigg
Bloomberg
Mar 18, 2014 2:00pm EDT
united states, russia, the european union, china, and iran, are back in vienna to resume negotiations. but the crisis in ukraine is casting a shadow on those talks. joint -- -- indira joins me on the phone from vienna. how is the conflict in ukraine affecting the negotiations? like the specter of crimea is hanging over these talks. you have the u.s. and the european union, who have both sanctioned russia not only this week, but also two weeks ago, over its actions in the ukraine and crimea. and yet they are supposed to be sitting on the same side of the table with russia and china to pressure iran at the talks in vienna. case overnteresting whether great powers can separate the problems they have between themselves, when they are trying to cooperate over something else. we have asked repeatedly about this. the u.s. side insists that they believe it is in russia's own interest to stop iran from getting a nuclear weapon. they do not think it is going to interfere with the talks. at this point, it is pretty delicate. long as you are sanctioning the deputy prime minister of russia, who is
Bloomberg
Jul 25, 2014 2:00pm EDT
bloomberg television comes back in just a moment. ♪ >> here is mr. cheney us on the china credit bubble. data --roblem is that and we take it with a large grain of salt, the data shows that the credit spigot is just completely wide open. that more and more credit is going to support less and less growth. the ground,el on put a building or bridge, that counts as gdp. the problem with that model list -- when you finish building it, you have to put up another one. is not based on ongoing consumption. this reform, that the chinese optimists felt was coming for years ago, still is elusive. rose onan watch charlie bloomberg television tonight at 8:00 and 10:00 p.m. and excitedly raise costs for the third time this year as wide sanctions threatened to squeeze its economy. he specializes in european and eurasian security. he joins me from washington. chris, welcome back to bottom line. it is good to see you. >> thanks very much. >> will these actions be enough to ward off inflation, and will it be enough to stop the hemorrhaging of l flows? >> i think it is soon to know for sure. we will have t
Bloomberg
Apr 4, 2014 2:00pm EDT
see her it -- here and his answers, the stop in china for sure. it is really china that is most particular about this. of.t see this as a threat event is up to check hegel and other members of the administration to reassure them that it is not a direct talent in china, but there will be some tough issues there, and right at the top of that list will be cyber warfare. real challenges between these countries as they try to wrestle with that issue. check hegel had a big speech at the nsa did a couple of days ago. a lot of that telegraphing a message to china. >> peter cook joining us from los angeles, spanning the time zones to get that interview with secretary hegel. thank you. claimant report, and white we expect today's report to be one of a number of reports that will be shaking off the impact of severe winter storms. ♪ >> job creation in march ready much averages acted. 192,000 new jobs, according to the new labor market report. what does that mean? was it just whether induced bad dreams? i have to ask, by saying the march employment numbers, are they enough to convince the
Bloomberg
Jan 14, 2015 2:00pm EST
in focus, down more than 5% as investors fret over a weakness we might be seeing in china this year. the world bank reduced its gdp forecast for china this year. we also see a recovery in gold up about 4% this year. and we have to mention bonds will stop there is a rally taking place with yields hitting a record low today. yields for government bonds in u.k., france and canada all hitting record lows. >> scarlet, thank you. the fixed income strategist at janney montgomery scott in philadelphia joins us today. welcome back. good to see you again. the beige book notes most districts reported a modest to moderate paced -- pace of growth. what does that mean for sustained momentum going forward in light of today's week retail sales numbers or december? >> i don't have a count in front of me of all the time the fed has described headline growth as modest or moderate, but that's the only phrase i can or member them using throughout the last couple of years of this economic cycle. by the qualitative measures the fed uses, it seems economic growth is trodden -- is chugging along relatively
Bloomberg
Mar 21, 2014 2:00pm EDT
with china. those will not be affected. have may say we will sanctions to russia, but it does not actually mean anything. and those that probably would mean something, they are not saying that same thing. i do not think it is very likely it will make any difference. >> overall, it does seem that president latin america -- president vladimir putin is willing to sacrifice short to medium growth to win the standoff, if you will. russian gdp is under two percent. where is the will -- real growth? >> most of the growth is coming from the consumer sectors, from entrepreneurship, domestic goods and services. oil and gas is growing, but not that much. sure, putin is prepared to sacrifice economic growth in order to face down the situation. but i don't think it will be that much. of course, investments activity may be a little lower for the next year or so, but we have taken down our focus for this year a bit. but like i said, we should not exaggerate this thing. >> should not exaggerate, ok, fair point. what is your best estimate this year for russia? >> i think we will only see one perce
Bloomberg
Apr 28, 2014 2:00pm EDT
switch to china if we could. resident obama was in japan, trying to lock up that transpacific ownership. a concern has been about china's ascendancy in the region. what are your thoughts on a transpacific ownership? -- partnership? how would that affect united states? >> the free trade works in the overall economic interest of the united days. -- states. we need to establish ourselves as an economic force. academically -- economically. to have the diplomatic component, and a military component in asia. that this type of academically it will make sure -- where does the house of representatives stand right now on immigration reform? is anything going to get done this year, or is that a nonstarter because we are in a midterm election season? >> it is going to be difficult, but john boehner has certainly started the debate. i will workit clear with the speaker when he laid out his principles. it is getting there, the speakers try to make it that way. whether it happens later in the year or early next year, we from a political point of view to win a national election we have to show and make
Bloomberg
Feb 5, 2015 2:00pm EST
. >> how has the u.s. been on the geopolitical stage? has the u.s. let china set the rules for global trade? >> i don't think they have set all the rules. that's what are the reasons we need this trade agreement. the transpacific partnership is a group of asian nations and hopefully we will have some high standards and their and enforceable trade provisions to protect intellectual property and make sure when you have a state sponsored enterprise or national champion being promoted by a government, if there are violations of the norms of trade, you have to have a redress of this grievances. the international system is not working as effectively as we would like. it's why these standards in these upcoming trade agreements matter and why the president needs to begin as much authority as he can begin to negotiate the very best deal. congress is in this process. >> the international president of the united steelworkers union during a conference call last month told reporters that they are going to push for no fast track. what if they are going to have fast track, it has to be one that part
Bloomberg
Aug 19, 2014 2:00pm EDT
that was china. bhp gets $20 billion from china. when china slowed, you had these companies that are very sensitive to the economy and they threw up their hands and said, who do i sell to now, and how in order to make enough money? the issue down the road is projects are shut in, assets are being spun off. does that create a supply crunch at the end of the day? these cutbacks will take a few years to achieve through, but by 2015, 2017, we could see these commodities, under some support because we do not have enough supply. thosebhp is keeping assets that are selling well, why are shares down? >> investors wanted a buyback. that was a problem. for on the doesn't markets. in the meantime, "street smart" with trish regan is up next. ♪ tuesday, breaking news, steve ballmer is stepping down from the microsoft board. apple topping $100 a share for the first time since the stock split. i'm trish regan. streaming on your tablet, phone, bloomberg.com, apple tv, and amazon fire tv. "street smart" starts right now. welcome to the most important hour of the session. this is the show you do not
Bloomberg
Mar 30, 2015 2:00pm EDT
exchange plan for the first time in three days after policy makers in china signaled they are ready to extend measures to stimulate the economy. the best book rose to 1.9% in sao paulo. this after china's central bank governor said the growth rate is a bit too much. finally, sony announced they will close one of its plants in the country for next. the factory part of the sony distribution arm produces cds dvds and blu-ray's in mexico. sony has said it will find another manufacturing supplier for the next following weeks. these are the top stories making latin america. back to you in new york. mark: jose, thank you. that's your latin america report for this monday. cme storage futures. the chicago mercantile exchange has come up with a way for energy producers to have storage facilities. alix steel will fill us in when bottom line continues in just a moment. ♪ mark: greece's proposal to allow the next round of bailout money still needs a lot of work according to european officials whose ar-15 page draft proposal is short on information and details. greece could run out of money wit
Bloomberg
Apr 30, 2014 2:00pm EDT
for america's influence for regent currently witnessing china's ascendance? >> i hope what you are describing does not happen. ofhink we are as a result the meeting between the prime minister and president obama, we are on the cusp of what i hope will get a conclusion in the agreement. --tom of for some reason, if, for some reason, that will mark the descendents he in the influence the united states has in asia and southeast asia, and that is not in our economic interests or the interests of our manufacturers and anger cultural producers -- >> we have a little less than a minute left. would beijing view as a threat and alliance between the united states and the 11 countries in the asia-pacific region? -- what impact would this have on the u.s. and china? >> the easy reaction is to and itttp to be a threat includes a number of trading partners and may eventually include korea, which is a neighbor. there will be a favorable -- favorable prospect. they can live up to the high standards that are being negotiated for the agreement. they could achieve the high level of ambition and those
Bloomberg
Apr 21, 2015 2:00pm EDT
. agriculture does well. 90% of the world's markets are outside of our borders. we give china leg up. peter: what is your sense about how this will play out in the committee and on the floor? you are strongly supportive, the president will be pleased. there are still some democrats who are on the outs. senator carper: trade function gives congress a chance to say this is what's important to us. pharmaceuticals, chicken. i think that's going to pass by a huge margin. i think the actual trade agreement itself will probably pass by a larger margin. peter: this is the transpacific we could have europe as well. senator carper: transpacific first. peter: democrats and be on board if there was language in here which prevented other u.s. trading partners from engaging in pressman of elation. they mentioned to china. senator carper: we don't like what they do with their currency. they come around a little, not as much. the concern is if we are not careful, the chinese will do that to us. the same thing the federal reserve did their work on quantitative easing. the fear of the administration i
Bloomberg
Nov 20, 2014 2:00pm EST
-- imax says they are building dozens of theaters in brazil, china, russia, and the middle east. imax open 40 theaters in china this year, and has a backlog of 250 theaters. they are finalizing agreements in scandinavian countries, where the company already has 70 theaters. that is your latin america report for this thursday. box ceo and cofounder aaron levie has become a star of silicon valley, known for his colorful tweets and bright sneakers. he has taken the company from tiny startup to enterprise power house. emily chang set down with mr. levie on the latest edition of "studio1.0," which airs tonight. >> it used to be there was a cycle of disruption where software companies disrupted themselves. we are going through an evolution where we have to interact with so many new markets in so many different ways. at first that starts out as, we can solve this problem better than anybody else. sometimes that is right. sometimes it is not. when that is not correct, it ends up looking ludicrous and we look of noxious for it -- of noxious for it. the outside world is excited about working wi
Bloomberg
Jan 20, 2015 2:00pm EST
june. >> the traditional sources of demand for oil might not be there going forward. china is a prime example. if we are growing at 1% or less, it does mean we will not be consuming as much oil. the other thing we have to consider is the efficiency of the utilization. >> demand-supply is a concern. gas prices continue to plummet to six-year lows. according to aaa, the national average is close to two dollars a gown. pump prices can be found two dollars at gas stations in 28 states. >> we are seeing the seventh straight gain in gold? >> it has a lot to do with the imf saying there is slowing growth. there is fallout from the fact that the ecb will boost stimulus , all pushing gold higher. looking at the highest level since september for gold futures, today's game makes it the longest rally and 11 months. it's not just gold making a comeback. palladium is making a comeback. palladium is used in catalytic converters. >> su keenan with the commodities report. 2014 was the year we saw more media companies deliver content on the internet without cable or satellite. bloomberg intelligence ha
Bloomberg
Mar 27, 2015 2:00pm EDT
. tesla showing signs of weakness in china. registrations of its model s fell by 50% last month. tesla imported 63 of the electric cars to china in february. down from hundreds per month during last year's fourth quarter. jurors in the third day of deliberation in the gender discrimination lawsuit against the prestigious venture capital firm. she says she was wrongly to ride -- do not a promotion -- denied a promotion. lawyers say she is a failed investor looking for a big payout. coming up at 2:30, the close of oil trading and the numbers are the week. at 2:40, we will go to mexico for the friday edition of the latin america report. at 2:45, we wrap up a busy week with "encore!" tonight, his career has spanned many decades. he is currently on broadway and stars in the film "the second-best marigold hotel." he will speak with tim gunn. that is at 7:00 and 10:00 p.m. new york time right here on bloomberg. still ahead while many banks are consolidating, u.s. operations outside of new york one for ms. heading west to gain an edge. -- one firm is heading west to gain an edge. ♪ mark: wel
Bloomberg
Dec 5, 2014 2:00pm EST
recession, china's growth is slowing down. will these headwinds hurt the u.s.? >> i think there is a risk of that. i do not think that they will hurt the u.s. as much as people fear. that is good news. although it is notable -- was one of the only things to decline. are issues we still have to deal and there are geopolitical issues as well. how low can guess prices go before putin feels like he is in a corner? fed meets this month, 16th and 17th. does the november jobs number mean that the fed will raise interest rates sooner rather than later? >> no. they need more evidence. they have made it very clear they want lift up in 2015, but they do not want to do it too soon, too quickly. they want to get there. monthsnt to see several like this, and the sustained weight gain, maybe, but we still have a lot of months ago to get to those months, right? >> is the fed concerned enough about inflation? >> this is a great thing, but the reality is beyond gas prices inflation is below the target and at the end of the day, what does the central bank care about most? inflation. they have pivoted their
Bloomberg
Jun 9, 2014 2:00pm EDT
engine behind that. if you look forward, we expect china, for example, one of the main economies in there, to become number two in the region to the, closing the gap u.s.. >> what is the u.s.? the largest u.s. is wealth market, with over $50 trillion, 30% of total global wealth. as i mentioned before, china in five years time will be the second largest economy, just after the usa, slightly closing the gap. >> what other regions are showing the most potential for growth going forward? >> i would say latin america, asia, and eastern europe. they have a potential growth rate of over 10% over the next five years. >> what does that tell us about how these regions have responded to the global economic downturn? a couple of years removed from the recession, our people now investing there? >> i would say that they are back on their heels, but at the same time they have strong gdp growth in the regions where the new wealth is being created. >> offshore wealth is impacted by political and financial stability, rising and falling due to a lot of unforeseen geopolitical circumstances. private wealth,
Bloomberg
Mar 3, 2015 2:00pm EST
negotiations, which are just u.s. iran negotiations, but this is u.s., u.k., france russia, china, germany. it's not a naÏve group. to come do this i think was absolutely inappropriate. the idea that you just hold sanchez to try and undercut any chance of success -- sanctions to try and undercut any chance of success negotiations has been shown to be wrong time again. the prime minister was out of place in with the express today. >> mr. netanyahu opposes any deal that leaves the iranian nuclear program intact. is that realistic, given that any compromise will require give maximal laws sides -- give back on all sides? >> president obama said to stop iran or make it impossible for them to make a nuclear weapon that's the direction they are taking right now. the idea that any enrichment capacity at all dooms this which is what prime minister netanyahu's position is is faulty analytically and its faulty by the standards of international law of the nonproliferation treaty as well. it's not going to happen that way. i think it will need to hope for is a sound agreement, is not yet they
Bloomberg
May 7, 2015 2:00pm EDT
trade agreements which the u.s. was not a part of. so they are treating, and this is going to china. if we do not raise our standards environmental and labor standards, then china will win. we need to pass the transpacific partnership today. mark: there was a report last month that cited numbers from the institute of women's policy showing the number of female small business owners is on the rise and minority women are making huge strides. why is this and what are the challenges they still face? >> one of the challenges is they did not know where to go to counseling centers. we now have several centers across the country. they also said that our loans were expensive. we have loans zero down and $150,000. we put on a new program that allows them to go to our website, answer a few questions, and now bankers compete for them. so it puts the business person in a very strong position. mark: maria contreras-sweet administrator for the small business association, great to see you. the seventh annual salt conference is underway in las vegas, hosted by skybridge capital. the event provides p
Bloomberg
Nov 19, 2014 2:00pm EST
strategy, we are starting to see the fruits of that. sales doubling in china. unitsl get to plus 32,000 this year. that is important for the brand and the u.s. a bit of rant presence in this world. i really appreciate your time. >> back to you in the studio. >> thank you both so much. coming up, the bond market battle of man versus machine is heating up. the latest efforts to bring the bond market into the modern era. stay with us. ♪ >> it is time now for today's latin america wrote word. resilient prices rose less than expected, 4/10 of 1%. it brings annual inflation back within the target range. pledging to fight above target inflation whilst emulating economic room and the labor market in the second term, which begins january 1. that is your latin america report for this wednesday. electronic trading is bringing the bond market into the 21st century. about a dozen firms are competing for the electronic form market. firms is london-based liquidity finance. i'm joined right ahead of the liquidity outpost and lisa, who covers the market for bloomberg news. welcome. perspective, why ar
Bloomberg
Jul 21, 2014 2:00pm EDT
. even after we saw china, which we thought was a big moment. you didn't get the stock drop you hoped for. >> our goal was not to get a stock price drop. our goal was to categorize regulatory interest in the company. a chinaafter presentation, the federal trade commission launched a formal investigation in the company. the fbi has launched a criminal investigation. i think we have been successful in catalyzing -- categorizing the regular tory interest. we spent the last year with undercover investigators and in the united states. they try to ultimately figure out how nutrition clubs work. we have hundreds of hours of recorded conversation. this is stuff we have not turned over to the government. say is as youill read the last few conference call transcripts, the emphasis is what has been on daily methods of consumption in which the nutrition club is a big driver. >> you said you have hundreds of hours of video of these clubs. is that right? >> audio and video. were visited of the thousands that herbalife has, how any did you -- fama feel free to add -- >> feel free to ask us tomorrow.
Bloomberg
Mar 31, 2014 2:00pm EDT
percent. china is seven percent to 7.5%. economically, we have seen nothing that gave us a major indication on those goals and stocks. >> you prefer dynamic docs to make the case. >> it will be improving cyclical markets and the economy will move forward between cyclical sectors, so we will win. we overweight cyclicals, we overweight health care. when you look at it, first quarter will be interesting. you saw a major move in the tenure down. -- 10 year down. the dividend income earning stocks. utilities, we think that will dominate the rest of the year. we think dynamic will be defensive for the rest of the year, even though that was not the case for the first quarter. qwest you are on target? -- >> you are on target? thank you for joining us. we will be on the markets in 30 minutes again. in the meantime, "street smart" is next. ♪ hello, everyone. the fed stimulus support and stocks rise. awaiting last week's drop on what some called janet yellen's most dovish comments yet. more about the big tease in the big story. i am trish regan and " street smart" starts now. everyone to
Bloomberg
Oct 7, 2014 2:00pm EDT
money and zones that europe can invest more than it does today. >> this summer, china's central bank signed a memorandum of understanding on business with luxembourg central bank. how is the remember the market in luxembourg? is your country now the main hub for the currency in the eurozone? your comment is quite correct. luxembourg has been developed as mbi placeimportant remi in the eurozone, even europe, if you think about it. we have the most deposits and most bonds listed. foremost, we are number one in terms of investment funds i.nominated in the renminb i think the chinese authorities have a desire to build on that. draghi, the european central bank president, said the bank will begin purchasing assets for at least 2 trillion years. they want to boost inflation and boost growth, economic growth, throughout europe. is that enough? should the ecb have done more? does the ecb have more tools to do more? >> i think the ecb has been proactive.rily mario draghi said that the bank would do whatever it takes. he is applying that again now by trying to find asset-backed to make sure lo
Bloomberg
May 23, 2014 2:00pm EDT
majority of farms overall is from china. is a very mature investment opportunity. there are many investments out there that one can get exposure to. what has been challenging for is really sustainability. the lack of management around disease control. the farmed salmon to the natural salmon as well as other changes in ocean temperature. we are looking at how will these companies understand and navigate these challenges. >> we get a sense that private equity is trying to capitalize. bought uptually seafood that a processor in washington, they brought that back in 2007. they have pumped a lot of money into it. looking at the recirculation facilities. maintaining speed delivery. they were dicey about going into this farmed salmon space altogether because of the risks. what they are looking at now is ancillary businesses. perhaps the business that will provide this marine group. they collect bioproducts. >> it is not a stretch to say maybe private equity you can own one themselves. >> not one in particular because of all the risks involved. a largers part of investment. it'll be a tr
Bloomberg
May 14, 2014 2:00pm EDT
the u.k. and even china, because it felt like it could do this on its own because -- but obviously it does not have control of the situation. what are the limitations of foreign aid to nigeria? >> the aid to nigeria is fairly limited if you are talking about normal economic development here nigeria is an oriole rich nation and even though it has a lot of poverty in the country, it is a very wealthy nation and has the largest economy of any nation in africa today. the kind of assistance that can be provided to the united states and the united kingdom involves drones, and better communications equipment in terms of dealing with a specific effort to find the girls. think we will find them? >> that is difficult to say. my guess is a good number of them will ultimately either be freed or escaped or somehow be tracked down by security forces. it may be a little optimistic all of them -- to think all of them would turn home safe. >> it seems like reports say the president will stay away -- from that. qwest that is a tough one. there is a lot of pressure right now to accept something like a p
Bloomberg
Feb 18, 2015 2:00pm EST
higher. they did have concerns about overseas, including china. they all agreed lower energy prices were a plus. they discussed the communications challenge to indicate that liftoff was approaching. some expressed concern that the financial markets might overreact, resulting in tight financial conditions. the minutes go on to say that participants discussed some possible communications about which they might further underscore the data dependency of the decision regarding when they will tighten monetary policy. they are struggling with some new language. they did not come up with a solution according to the minutes. i have a discussion on the subject of inflation and what it might take to get inflation expectations moving to the 2% target. there was also a significant discussion about the exit strategy and some policy tools will use going forward it comes time to start normalizing policy . according to the minutes, that time maybe further off than some people thought. >> thank you. let's get reaction on wall street and see how the equity markets are doing. julie hyman is of the brea
Bloomberg
Feb 19, 2015 2:00pm EST
oil's collapse will offset the slowdown in china and europe. america is poised for another good year. prosecutors trying to figure out whether a former morgan stanley advisor was hacked. someone posted some of that data online and asked potential buyers to pay for more. the former advisers lawyer to rise any wrongdoing -- denies any wrongdoing. in a cold, bitter winter, these words give warmth. pitchers and catchers are right for spring training. i spoke with ron darling. he's now an analyst for the mlb network and sny. i asked him about the economic state of major league baseball. ron: the economic state is fantastic. there is news today that the arizona diamondbacks will sign a new television contract locally with one of their regional sports networks. it could be in the 15-20 or range for upwards -- 15-20 year range. it has not had a lot of success of late and they command those kinds of prices. mark: you mentioned the commissioner. he has retired. what is his most important challenge coming out of the gate? ron: it is interesting. the commissioner did a fantastic job. fantastic i
Bloomberg
Aug 8, 2014 2:00pm EDT
an exotic investment, no doubt. but it is growing. the u.s. is involved, china is involved. everyone wants africa to drive. with the etf, you can press the easy button and buy shares in africa etf. the bad news is there is only one that covers the whole continent. it is afk. its holdings are -- holdings are based on the weighting of the countries. nigeria and egypt have about 20%. you have kenya, morocco. the other 30% -- the u.k. and developed companies that derive revenue from africa. >> i was going to say -- do some of these countries have enough publicly traded companies? >> they do not. this solves the liquidity issue. there are liquidity constraints. you cannot make an etf out of something that does not have enough liquidity. this is sort of a backdoor way to do an etf. i think it is not simply a u.s. play. as those countries get bigger, it will switch over to capture those local stocks. >> you mentioned south africa is the largest portion of that, the biggest, most mature economy on the continent. though if you wanted to specialize and take on some of the africa growth, but no
Bloomberg
Jul 16, 2014 2:00pm EDT
brazil tomorrow russia, india, china and south africa. that is your latin america report for this wednesday. its return to our top story. the release of the fed's latest beige book report. constance, welcome back to "bottom line." you sat down during the commercial break and said, wow, this is a strong report. ofevery area you could think is up. manufacturing, lending, the labor market, tourism, hotel occupancy. auto sales. residential construction. the only area where we have a little bit of variability is in real estate, which is existing home sales and new home sales which, there is low inventory and their is some shortages there causing slowdown and variability. higher interest rates are playing some role as well. >> the report said that overall consumer spending increased in every district. what is fueling this resurgence? will it be enough to give us a look behind the fed's stimulus curtain? if you were to do a graph of retail sales year-over-year, you see that we had a dip down in the first quarter. some of it is pent-up demand that did not get executed in the first quarter
Bloomberg
Jun 23, 2014 2:00pm EDT
about in terms of slowdowns out of china or a big spike in prices. there was always that possibility, but it does seem like a nice trajectory. >> you talked about complacency a moment ago, concern has been expressed about the lack of volatility we are seeing in the markets. have investors been complacent? or are they waiting for a selloff? is this environment good for equities? >> we think it is a good of both, perhaps assuming too much in terms of interest rates, but given that the environment is actually quite good? if it is complacency it is justified. >> they seem to be liking what they see, complacency or not. >> exactly. >> let's go overseas for a minute. mark carney of the bank of england spoke last week and said that interest rates in the u.k. could rise sooner than expected and that a lack of forward guidance did not seem to hurt the markets at all. why not? does he evolving guidance help or hurt investors? wax that is exactly the point where people put too much faith in what they hear from the fed. ultimately it will be a function of economic growth and inflation expectatio
Bloomberg
Mar 5, 2015 2:00pm EST
league, 7% growth this year was called for it, down from simply 5% in 2014. last year, china passes economy grew at the slowest pace in a quarter-century. the number of people filing for quarter -- for benefits the highest level in more than nine months. the harsh winter wet -- the harsh winter weather. tomorrow, we will get the jobs report for february. the survey is looking for an increase of to a jet 45,000 nonfarm payroll jobs and an unemployment rate of five points is percent. wrigley brothers elephant acts. the absolutely be phased out by 2018, citing growing public concern about the animal's treatment. 43 elephants will live at the company passes 200 40 acre center in central florida. elephant acts have been showcased by wrigley for more than a century. now, the new york federal reserve is losing power in a behind-the-scenes reorganization. the wall street journal says a little-known chlamydia is taking the job of overseeing banks like goldman sachs. the committee is headed by the fed governor. he tells the journal it was obvious that regulators had not done a good job before
Bloomberg
Jun 3, 2014 2:00pm EDT
those killed in the protest have been detained. in recent days, google services in china have been disrupted. that is a look at the top stories in the news we are following for you at this hour. stephanie ruhle just sat down for a special conversation with lloyd blankfein, chairman and ceo of goldman sachs, and michael bloomberg, founder of bloomberg lp. honor the recipients of the goldman sachs 10,000 small businesses program and just announce that mr. bloomberg will join mr. blank fine as a cochair on the program's advisory council. .tephanie joins me now it was like church. you could hear a pin drop. but let me tell you, this was -- >> let me tell you, this was a lucky, lucky day. i got to sit down with two leaders in their industries, two icons, mike bloomberg and lloyd blankfein. not start asin did a goldman sachs investment banker. he was a lawyer. and he worked his way up. mike bloomberg, who lost his job at allan brothers started in i.t. business with a couple of other guys. >> and then he was asked to leave. >> and that sure worked out for him. >> sure. >> the recipient of
Bloomberg
Nov 14, 2014 2:00pm EST
could open up if there are more miners popping up outside of china. >> we should put up the periodic table of elements. thank you. "street smart" is up next. ♪ >> welcome, everyone to the most important hour of the session. we have 60 minutes to the de la rosa. i am trish regan. knee thoughts about the pimco c.e.o. victor joins us. what he has planned for the next year. how low is oil really going to go? i am going to talk to a leader analyst to see how opec may respond. "street smart" starts now. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org ♪ >>re
Bloomberg
Aug 22, 2014 2:00pm EDT
globally and did incredibly well. this is a global business. when china, india, on -- australia, all these different mixed with theg bottom line, it becomes a global .tory quickly mention the success of "teenage mutant ninja turtles," the reboot of the popular children's cartoon, grossing $120 million in the u.s. and canada in its first 11 days released here at how do you explain the enduring popularity of this franchise? >> we're going on two decades of ninja turtles. earlier in the year when the marketing plan was getting whend up carbo people -- it was getting booted up, people marginalized the movie. but it did really well and for two joe weakens in her role. there were not a lot of family films this summer, and this really filled the void. i think nostalgia plays a part with that. with the whole family and have a great time, it shows you michael bay has his finger on the polls of what audiences want with "transformers" and "teenage mutant ninja turtles hmmm, which he produced. it is about the popcorn movie experience which could also happen in august. it seems like the dog days, but n
Bloomberg
Jul 9, 2014 2:00pm EDT
he called an overall u.s. strategy because "the u.s. does not seek to contain china." citigroup may reach an agreement with federal prosecutors as early as next week. a person familiar with the negotiations tells him bloomberg news the deal would result her program to sales of mortgage-backed bonds -- resolve a probe into sales of mortgage-backed bonds. "the new york times does quote reported the deal would be set up "the new york times" -- "the new york times" reported that you would be $7 billion. rayer new orleans mayor nagin has been sentenced to 10 years in prison. that is a look at the top stories in the news at this hour . let's get you more on the release of the minutes from last month's fed meeting. is executive vice president and market strategist and portfolio manager at pimco. welcome back to "bottom line." your take away what did you hear and didn't you hear from the minutes? >> there wasn't a lot fresh there but there was something helpful to us giving guidance as to what the fed will be doing. it gave us a sense as to when bond buying will actually end. the fed is tap
Bloomberg
Nov 7, 2014 2:00pm EST
-- until after a trip to china next week. federal reserve chairman janet yellen spoke in paris today. she said central banks must do whatever it takes if governments will not do it -- economieseinvigorate with inflation. >> the severity force policymakers to respond rapidly bothreatively, employing monetary and fiscal policies to arrest a steep economic downturn and restart the global economy. given this slow and unsteady nature of the recovery, the port of policy remains necessary. >> transocean will delay posting third-quarter results after saying earnings will be hit by --e than two point thirds $2.75 billion in charges. review seas. transocean is the largest fleet of deepwater drilling rigs. rateg up, the u.s. jobless jobs to a six-year low. we will look at today's report to see if the labor market can sustain this momentum despite low wage growth. bottom line continues in a moment. ♪ >> welcome back. more on jobs. the u.s. unemployment rate for october dropped to a six-year low. michelle gerrard is a chief economist at abr securities. the unemployment rate fell but the labor f
Bloomberg
Jul 30, 2014 2:00pm EDT
be bringing the xbox one to china in two months, currently taking orders for the gaming console, which will be first in the market in the end of a 10-year ban. those poor chinese people. microsoft faces an antitrust probe in the world's most populous country, the one that the state newspaper says his routine. we hope they will all enjoy playing. ♪ >> welcome back to the second half-hour of "bottom line." the israeli military is pushing deeper into gaza. air strikes and shelling killed more than 90 palestinians throughout the day including 20 people who had taken shelter at a crowded united nations school. the israeli military also said to allowstop attacks for humanitarian relief. to "bottom line." thank you for your time today. united nations secretary-general ban ki-moon this week accused the israeli prime minister, benjamin netanyahu, and the leader of hamas of being irresponsible and "morally wrong" for leading their people get killed in the gaza conflict. the palestinian ambassador to the region also discussed the situation in gaza this week. here is what he had to say. >
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