is one explaining why he bullish on the cbs-viacom merger. >> it is a good deal. it is a buy. taylor: up next, more of the week's top business headlines. india's government has promised fiscal stimulus. the central bank is helping provide the cash. >> it has cut interest rates and given a record amount of dividends to the government. taylor: this is bloomberg. ♪ ♪ taylor: this is "bloomberg best." i am taylor riggs. let's continue our tour of the stories with more from the g7 summit. discussion about iran was the top of the agenda. there was an unexpected twist when a top iranian official came at the invitation of emmanuel macron. foreign minister visited france for six hours. bilateral talks. we had a brief sit down with the french president emmanuel macron. officials said they gave the u.s. delegation a heads up about the surprise arrival. macron did face allegations he blindsided allies. >> president rouhani said he was prepared to meet any political leader in the interest of his country. pres. trump: if the circumstances were correct, were right, i would certainly agre

this week for a conversation about investing at the largest independent holder of voting stock and viacom, who recently said he was exploring legal options after his shares were bought for less than he perceived its market value in the company's merger with cbs. vonnie quinn asked him if he is still considering litigation. ♪ >> as one of her teammates would say, all our options are still on the table. we want to see how far we go into it. number, there's only like 5 million, 10 million shares, it was selling at a premium, and if they pay you an extra dollars -- it's not a lot of money. >> are you actually going to take them to court? >> we will do whatever is necessary to help our clients who own the stock. of the 650 million shares that will be outstanding -- by the way, this is a buy. have in our homes eight streaming services -- is he bullish on streaming and is cbs behind? shares,00 million that's 25 billion, we are paying 40 billion for the entire enterprise without a major success in streaming, putting money into content will generate -- >> should they bring back "gunsmoke?" [laug

>> we are buying it indirectly by buying some viacom. 2, 5, 8 streaming services. cbs behind in streaming? out, thellion shares stock has 45. we are paying $40 billion for the entire enterprise. that enterprise, without a major success in streaming, but putting money into content. >> should they bring back gunsmoke? remember in childhood, they were apoplectic over all the old people. up a great point. "dark phoenix" lost a lot of money. you want to buy cbs because it is going to work. jerry is going to be in command. >> what happens next? they do have streaming services. hbo, cbs all access. >> they are not going to buy bloomberg. it is not going to work. that, if i am amazon, i am looking at how i get into this in a bigger way. witham sony, what do i do my music studio?may be the path is open . some further dynamic unfold. hopefully it happens a year from now. gamco chairman and chief executive mario gabelli. another sign that the u.s. housing market is cooling down. gains decelerated for the 15th month in a row and they were weaker than expected. that is accordin

ed: yes, it is cbs-viacom all over again. they've obviously both gone in slightly different new things in some of juul,ed: tobacco, and of these e-cigarette products. the point i was being made this morning is you have very couple to report folios in terms of they are both huge companies with huge brands we know well, but no overlap in terms of geography. the expectation is this will have minimal devastator's if and when they put it together, which should lead to a fairly quick close. vonnie: sources telling us they are not going to make any divestitures or offer any up. if the market saying that this deal undervalues phillip morris? ed: i think the market is really processing at the moment what its own shipment will look like here. who's going to be the management? in terms of undervaluing phillip morris, it is a tough one. there's nothing that fits with ria, so why phillip morris is down so much i think will become clear in the coming days. the market is waiting for more details at this point. the thing that triggered this

he referenced the viacom deal just announced. i think what is happening in the media space is media companies feel like they need to consolidate because competition isn't just with each other. it is with big technology companies like apple, like amazon, google, facebook that are much bigger than the traditional big media companies, and their global. they are really taking a lot of the ad dollars, a lot of the subscription dollars. they are getting into the con did business. if you are the walt disney company, you feel like -- into the content business. if you are the walt disney company, you feel like you need to compete not just against media companies, but technology companies. alix: they needed to launch disney+ to be able to compete with netflix at the end of the day. so is this the call, do not focus on tech? surprising,k it was but he's also talking about the loss of local journalism around the country, which is a significant issue. the issue there is simply economics. consumers do not want to pay for local news. they'd rat

emily: viacom's ceo bob bakish there. coming up, softbank's massive vision fund makes its first ever energy storage bet. we find out what energy vault is with the ceo. next. this is bloomberg. ♪ emily: softbank's massive vision fund made its first ever energy storage that, investing in energy vault. this company stacks concrete blocks in a tower that can store and release energy. it is presenting the system as a bigger and more affordable solution to lithium batteries, claiming it can supply electricity to the grid 24 hours a day. to discuss what this means for the energy storage market, i sat down with the ceo. >> we've designed a very new, innovative system tower. it includes a six arm crane and 35,000 metric ton bricks that are all orchestrated and raised and lowered with a proprietary software stack, so that's the whole system integration. what we do is we take excess energy from solar or wind when it's produced and not needed. that energy is used to raise the blocks. and when the energy is needed by the grid, we lo

kailey: cbs and viacom finally reunite. wework unveils its plan to go public. chinese tech leads another parade of earnings and ad revenue. >> the focus is on the decline in online ad revenues. kailey: the week's important perspective. >> you look around the world, not a lot of great news lately. >> baseline does not suggest a . a recession, but these factors, keep an eye on them. kailey: it is ahead on "bloomberg best." hello and welcome. i am kailey leinz. this is "bloomberg best," your weekly review of the most interviews, business news, and analysis from bloomberg television around the world. let's look at the top headlines. we begin with investors jolted by political shocks. hong kong protesters forced the city's airport to shut down, canceling hundreds of flights. and in argentina, a surprising result in primary reactions a set off a chaotic election. francine: argentina is at the crossroads. while the president is looking to us second term, his path to the presidency just hit a massive roadblock. at the moment, his main rival , the opposition candidate t

cbs and viacom finally inked a merger deal. we will talk to viacom's ceo about synergies and the road ahead. what slowing economy? chinese online retailer alibaba defies the slowdown amidst a trade war with sales surpassing expectations. first to our top story, it was a big week for tech ipo's with fleet work and cloudflare filing to go public. the web security company cloudflare has been in the news lately, given its relationship with controversial message board, 8chan. three alleged gunman posted manifestoes on 8chan before three separate mass shootings in the united states. cloudflare stop providing services after the latest shooting in el paso, left two dozen dead, largely taking the platform off-line. so, is now the time to go public for cloudflare? i discussed it with liliana baker and will curtain. >> like many other tech ipo's, especially in software, it is not profitable. it has a pretty good growth rate though. it's really trying to look at its competitor, fastly. fastly went public earlier this year and is doing ok.

cbs and viacom finally inked a merger deal. we speak to buy

. >> cbs and viacom finally reunite. another parade of earnings were ad revenues -- >> the focus is on the decline in online ad revenues. >> not a lot of great news lately. >> baseline does not suggest a session, but these factors, keep an eye on them. kailey: it is ahead on "bloomberg best." ♪ kailey: hello and welcome. this is "bloomberg best." the review of the most important news and analysis from bloomberg television around the world. let's look at the top headlines. we begin with investors jolted by political shocks. hong kong protesters forced the airport to close down. and in argentina, a result in primary reactions a set off a chaotic election. >> argentina is at the crossroads. there is a massive roadblock. his main rival, alberto, grabbed the momentum and came in 15 percentage points ahead in the poll. >> many analysts would say it is insurmountable. they like his policies. they are market oriented. fernandez, it is not clear what he would do with the imf. today could be carnage in the argentine markets. >>

individual stock story that we talked a lot about yesterday, this remarriage honeymoon between, yes, cbs and viacom, just one day afterward it looks like their massive merger is already having a few issues, because those stocks are plummeting and now we are also looking at t-mobile and sprint on another issue charlie gasparino is working. >> t-mobile and sprint, sprint is going up a little, t-mobile's down a trifle. it might be on the headlines we are generating. sources are telling the fox business network that as you know, there are 16 state attorneys general suing to block this merger. we understand that officials at t-mobile/sprint have entered into what is being described as early stage settlement negotiations. they have reached out to those 16, to the leaders of those 16 state attorneys general, letitia james of new york is one of them and they are trying to say can we start talking about possibly ending this lawsuit which would -- which could derail the deal. i'm not saying it will. you are in federal court, you know, you have -- i think there's a clinton appointed judge in the federal court

cash generated but a to be that's down four, five points today, i think the combination of cvs and viacom and the pullback in the market, we think that provides a good opportunity. they're a director in the z, on a global basis those are the issues independence of that, i think you have a very good opportun y opportunity. >> i'm speaking with how cheap cvs is, i'm saying direct to the consumer on a global basis 7.5 billion sets of eyeballs 4 billion-plus phones. netflix has 150, maybe 160 million customers our house december hold plays like 1300 a month, in the case of some other cvs, you give the consumer what they said. those are simp issues, but you have to focus on them. that they broke apart 13, 14 years ago for different reasons, different world, and we think it would work quite well for the owners, and will they do other things yet. this is just the beginning of a lot of dynamics going on and there are pluses and minuses all the time >> is media and check, when you see something like that -- >> no, no, no. we are having our on 26th conference on commercial and military aviation in

plenty of stocks dragging today, including viacom and cbs. they are proceeding with that deal, but they are down 7% apiece. retail being dragged down lower by macy, which vastly disappointed investors. many other brands lower as well. guy: it is a tough market if you are long. it is not tough if you are long bonds, though. u.s.ections of both the and the u.k. yield curves invert. trade euphoria getting steamrolled by another round of disappointing global economic data, mainly out of germany and the united states. grant peterkin of man u life investment management -- of ,anulife investment management senior portfolio manager, joins us. seen the u.s. curve invert before, and generally there is a portent for some recession sometime after that. are seeing the central banks have economies' back. we are keeping longer dated bond yields relatively bid because of the collateral out there in the world. if the risks around the geopolitical tensions, whether in hong kong, argentina, or the potentiallyhey are bigger problems for us going forward. guy: we

, assume to be viacom cbs -- soon to be viacom cbs, bob bakish. i'm curious as to the couple of days that brought you to this point. you ended up making a deal on the shares. did you come down to meet cbs? bob: we are thrilled that we announced the combination of viacom and cbs. assets itook at the unites, the powerhouse cbs broadcaster, syndicator and studio, with paramount pictures, one of the most storied studios in hollywood, a set of global brands in nickelodeon, mtv, comedy central, and bet. they are really a force in consumer publishing, and of , which isowtime pushing the boundaries of storytelling. the deal was initiated by two special committees. it went through a very diligent and thoughtful process. we got the deal done because it positions us to do great things going forward. is ae: no question it phenomenal deal on both sides, yet there are some shareholders a little bit nonplussed that viacom isn't valued more in this deal. one threatening to sue. could you have come up? would cbs have given in eventually? two the deal was pursued b

first of all, viacom. cbs is buying viacom for some cbs stock. both companies are downing the premarket. this has been expect it for some time. the question is not so much will they get together, but what they do with the company wants to get together because it is a really tough business. taylor: here's what arguably they should do, is may be spend to keep up with their big competitors. we talk about scale, but scale means big scale, big spending. you have to not only look at the savings, but the expenses. david: a lot of content is what they need. taylor: the other story is all about the wework ipo. we did get the filing they may just in the last hour or so. valuationout wework's , still about $47 billion or so, valued high growth like a tech company, but that are served -- but there are some questions. they do have an all-male board. most companies are actually going to transition to a little more diversity. but not quite yet, as we work is showing us. they are giving us some big disclosures about the company to avoid any conflict of interest

. >> let me get your thoughts on another story that was vesting that of cbs corporation and viacom announcing they're once again reuniting. they're part of the same company. g. they're part of the same company. a lot of the competitor in this media landscape, the parent company, these are huge, huge firms spending a huge amount of money on content. shari redstone, she's wanted to bring these two companies back together for quite some time. she now looks like she will succeed in doing that. she seems to think that scale is strength. if you them. and joining these two companies together will bring her a lot more scale. they will have paramount studios, and they will with refocussing, redoubling their efforts on streaming. that will be a big part of the multimedia platform. >> so hard to imagine that it was 13 years ago that netflix was sending us dvds in the mail. >> willem still has a dvd player. that's his mode of preference, right. >> true story. >>> axios has a look at this morning's one big thing. >> and the ongoing protests in hong kong boil over as demonstrators and police come to violen

"markets," a gentleman who will pick up the viacom, viacombs ce? this is bloomberg. ♪ tom: it is an extraordinary moment. let me bring up a chart of the bloomberg that the pros are looking at. on the left side, the john major 1992, the challenges of the asian crisis. united kingdom rolls out of it prosperity and a massive decline and flattening to the yield curve down to an inversion. the two year yield is higher than the 10 year yield in the united kingdom. it leans toward the u.s. following shortly. right now with us, mike gallagher of continuum economics. we are thrilled he could be with us this morning. rbc.cole is with us of you are a foreign-exchange guy. how does any currency react to the vanilla key curve inversion? adam: i think as in most things for sterling, what our currency is trading off is so closely linked to the probability of hard versus soft versus no brexit, and domestic economic fundamentals having almost no bearing. you see that in the data response to today's cpi. sterling is so completely sidelined by the probability of ha

us entertainment giants cbs and viacom have announced that they have finalised their merger plans. the new company will have more than $28 billion in revenue and comprise brands including mtv, paramount pictures and publisher simon & schuster. they will be latest in a wave of media mega—mergers as traditional media giants take on new streaming rivals. india's smartphone market saw record sales in the second quarter. almost 37 million handsets were sold between april and june, up around 10% on the same time last year. the us airline safety regulator has banned certain models of apple's macbook pro laptops on flights, after the tech firm recalled select units with batteries that pose a fire risk. the 15—inch models were sold between september 2015 and february 2017. the federal aviation administration says it has alerted major airlines about the recall. so let's check in on the numbers. shares on wall street and in asia rallied pretty sharply after the united states announced it's delaying imposing new tariffs on some chinese imports until the middle of december. let's go to our

it will be called the viacom-cbs. the federal trade commission is looking into allegations of the e-commerce site punishing merchants with lower prices elsewhere. of atc stop short formal probe in amazon. says theyrican group will allow the better parts of the business to grow, and help bring down debt. we spoke to the companies chief executive. >> on a vertical integration restructuring and that model is not sustainable going forward. at the operational management should be underlying businesses and we must act as ap are shareholder. -- we must act as a peer shareholder. matt: president trump has delayed some of the new china tariffs he wanted to put on september. farm goods, clothes are on the list, but levies on big ticket items such as smart phones and children toys as well as bibles will not come until the end of the year in order to allow the christmas shopping season to remain under way. let's get to markets with jan-patrick barnert, equities reporter, bloomberg editorial -- with mark cranfield, mliv strategist

has agreed to merge with viacom in a $12 billion transaction. combines the broadcast paramountith parent pictures and mtv and nickelodeon. it will be called viacom-cbs. the trade commission wants to hear complaints from amazon sellers. they are looking into allegations of merchants being punished by lower prices elsewhere. the fec is looking at a broad review of the tech sector. the market rout in argentina is wreaking havoc on some of the largest u.s. money managers. it suffered its largest drop since the 2008 financial crisis. argentine sovereign and corporate bonds erased $16 billion of value on monday. that is your bloomberg business flash. matt: thank you. yields on 10 year treasuries have fallen lower again on weak economic data out of china. the rush for cover from global risk is overshadowed by u.s. inflation data. it hit a six month high in a broad-based gain. the pickup may limit the case for an additional rate cut, but scott minor told bloomberg a half-point reduction between meetings would send a clear signal. >> given the fact that

suddenly viacom looks like the weaker partner. old, incapacitated, how involved he was in the decision-making was of dispute. what we do know is sherry redstone, his daughter, thought it would be better for the company to get together. first, she fought for control of viacom. she ends up installing bob as the ceo of that company. she tries to get les moonves, ceo of cbs, to merge them. she resists, but he ends up having to leave the job because of accusations of sexual harassment. after discussions of putting them together again, we have an agreement to do it. not after a lot of of fighting and handwringing along the way. thanks so much for all those twists and turns. coming up, stopping the spread of online extremism. we will speak to one guest who has a plan for what tech companies need to do, next. this is bloomberg. ♪ from the couldn't be prouders to the wait did we just win-ners. everyone uses their phone differently. that's why xfinity mobile let's you design your own data. now you can share it between lines. mix with unli

the off-again, on-again cbs-viacom romance has led to a marriage. deal unites the most watched network with the parent of paramount pictures, mtv, and nickelodeon. have 61%holders will of the new company with the remainder going to viacom investors. sherry redstone will be chairwoman with bob bakish as ceo. moody's is warning exxon mobil its credit rating may be lowered as spending balloons and debt piles up. the agency assigned its highest rating of aaa to exons $7 billion offering of senior notes but the rating and stable outlook are under pressure because exxon is outspending cash flow and its refining and chemical businesses are underperforming. tesla's plunge has made it the most profitable it on wall street. $2.75 billion of mark to market gains in 2019. last year, elon musk attacked what he called value destroyers in order to prepare for "the short burn of the century. tesla remains on pace for its worst annual decline on record. founders featured in the latest episode of bloomberg studio 1.0. and an exclusive interview, they tell how the com

the cbs-viacom romance leads to a waiting. the megamerger -- shery: breaking news out of south korea. we have the unemployment rate for the month of july coming in at 4%. that was as analysts expected. the third month in a row that stayed at 4%. south korea added 299,000 jobs in july, higher than the 281,000 they added in june. the south korean economy and job market being highly supported by government job creation. we are expecting the extra budget set to pass parliament at the start of august to also give more support for the job market. exportseantime, continue to plunge in south korea, now headed to the ninth month of export declines in august.we have seen the weakness in w theon throughout these -- the south korean won. in hongrn to sophie kong for a check on where markets are headed this morning. sophie: we have plenty more data to come through from asia including a check on china's monthly activities for july which could dampen some of the anticipated relief rally as industrial output and retail sales slowed on the mai

cbsoff-again on-again viacom romance has finally led to a marriage. the all stop deal unites the most-watched u.s. tv network with the parent of paramount pictures, mtv, and nickelodeon. shareholders will have 61% of the company with the remainder going to viacom investors. .hery redstone will be chairman paul: the maker of hp laptop says it will shift production of u.s. bound computers out of china within months, as the trade war heaps pressure on the tech industry. ining into its home base taiwan as suppliers reassess their dependence on china. telling the earnings call that the escalating trade war is very painful. s3 partners say there have been three quarters of market gains in 2019 so far. musk took ton social media to attack what he called value destroyers. and to create -- to prepare for the short burn of the century. come, we weto talking chips and hot hi earnings.--honhai this is bloomberg. ♪ -- we saw a.m. time , andequities rally encouraging sign on the trade front. about .75% here in australia. shery: it's 6:30 p.m. in new york. you're

media as cbs agrees to join with viacom. shares of apple and chipmakers sword in tuesday trading after the u.s. delayed tariffs on certain imports including smartphones as well as laptops. trump said, "is to case they might have an impact on people, what we have done is delay it so they won't be relevant during the christmas shopping season." to discuss in washington, the president of the u.s.-china business council. sarah, do we have any idea what the motivation is for the change of heart? sarah: we do know that the news gave a bump to the stock market. we sell retail and technology stocks go up today. there have been some declines in share prices in recent weeks. of course, that is an immediate cheer from the market. what we don't know what was discussed between officials of the china and the u.s. on the phone call. they were waiting on purchases from china on agricultural goods and other promises. really the continuation of trade talks. we don't know what kind of promises were given in exchange for this delay. as you said

the new company reportedly to be called viacom-cbs. that started today's equity rally come the trump administration said it would delay the 10% tariffs on some chinese products until mid-december. damian sassower is our credit strategist for bloomberg intelligence. the strong to watch intraday reaction. it tells you something about the sentiment in the market right now. that's right, look at the 2/10. it is almost inverted, and that has never occurred without the u.s. going into recession. stocks have rallied on the back of that news. it has been a risk on rally, ignoring what is going on on the ground in argentina and hong kong. shery: you look at the mexican peso and the brazilian real rallying. interestingco is an one. that is when we all have to take a look at. 8.25.ve rates around if they do a 25 or 50 basis point cut, that will be stimulative for our economy. real yields are wide in mexico. going back to the china trade, the short-term reaction says it all. if you look at a sentiment indicator for a dollar complacency relative to

cbs and viacom have reportedly agreed to an exchange ratio of 0.59625%. those decimal points are all important. it is an all stock merger. let's talk a little bit about this deal. the question i'm asking is, why is this so hard? they've been negotiating around the clock, and they've basically come up with an exchange ratio that kind of reflects where stock market values are now. reporter: it was very tough to get down to this, so don't underestimate how many hours of bankers and lawyers, heads and directors have gone into this decision. they've been negotiating around the clock since the weekend, but really they've been negotiating for about two years. these companies were separated into thousand six. sherry redstone, who's now in control of national amusements, which controls both of these companies, realized both companies needed scale to be able to compete with the netflixes of the world. they needed to get together so they could do m&a to bulk up a little more. that idea seems simple, but coming to terms on how you execute that has been a really long,

viacom shareholders not getting much of a premium. last year they did agree on a higher ratio, but that was based on management teams then. a few things have changed. viacom will argue that they've gotten stronger since then. then tong its ceo since a slew of sexual harassment allegations. what cbsalk me through and viacom get from this merger. >> the big thing they get is scale. that is the buzzword in media these days, especially when they're trying to compete against the netflix of this world. netflix is spending more than $13 billion in its programming. it is difficult to compete with players like that. cbs and viacom will be combining paramount studios, nickelodeon, ,bs all access, cbs networks the number one most-watched tv network in america. number ones the network in america. at the same time, paramount studios has been having a tough time. even nickelodeon has been struggling. does it compare with the disneys of the world? is the big>> that hope that this gives the company is a chance to compete with the disneys of the world

protesters are waiting to see whether cbs viacom merge. -- cbs and viacom merge. they have been in talks for years. the finance ratio has stalled latest negotiations. a deal could be announced today. --ther sign verizon is selling tumbler to automatic. terms of the transaction were not terrio, suggesting tumbler sold -- material, suggesting tumbler sold for a fraction of what it fetched in 2018. tom: so much going on in argentina and the markets, but we need to stay on the hong kong story. hours ago, the hong kong chief executive. >> at arch everyone here to put down their prejudices, try to calm down emotionally and think seriously about our home. do we want to see hong kong fall into an abyss? tom: joining us from the hong kong airport is yvonne man. what is different today from monday? yvonne: size of the crowds are getting close to what we saw on monday. i would say thousands are out here again for the fifth day of protests. what we have seen as the protests have moved from the arrival hall to the departure. south dates into emigration and security have been s

cbs and viacom are keeping investors waiting on murders sure news. that the current recession would value viacom at the current level -- investors may not get the premium they would have liked. the u.s. judge has reinforced in order for american airlines mechanics to end alleged slowdown. the carrier says it has a devastating effect and americans a suit of the union in may, arguing the labor group was doing it to pressure the airlines into a contract agreement. it is time to consider shorting u.s. tech stocks according to socgen which cites increasing regulatory scrutiny. last month u.s. justice department sent its strongest signal yet it is prepared to take on facebook and google. and that's your bloomberg business flash. >> thanks very much. olivia hows in london. minutes away from the open. up next, the stocks to watch, including the maker of the personal laundry detergent, cutting its 2019 guidance as quarterly profits missed estimates. this is bloomberg. ♪ ♪ welcome back. this is the european open. we are just about eight minutes away from t

cvs and viacom are keeping investors waiting on news of their merger. the media giants work specter to announce as soon as yesterday for talks have -- but talks have dragged on. the current instructions -- discussions would value viacom are on the current level. five, investors may not get the premiums they would have liked. that is your bluebird business flash. -- bloomberg business flash. year bond yield falls to 3% for the first time since 2016. ask license and the trade war and fresh signs of a slowing economy have repelled a rally the government knows. data released on mondays suggest in july the country's credit demands fell to the second lowest amount this year. this is likely to increase pressure on chinese officials to boost their sales programs. roelof salomons it still whether us. if the fed is considering boosting stimulus, you would see investors piled into u.s. stocks. is he going to work the same way ?n china yucc >> the chemchina's to watch the monetary data. growth is slowing. they probably will do some stimulus. they have the room and

viacom weres and lower today. bloomberg has learned that the ratios being discussed would value viacom at current levels. the ceo would be the leader of viacom. a canadian company said a second ontario facility breached regulations. they had already been struggling from breaches in ontario. the national football league has taken its first major step in legal sports gambling it signed a partnership with sports radar. now, the company will have a right to distribute to the u.s. that is your business flash of. ate.lash upd romaine: let's go back to some breaking news. named a new ceo. david gibbs is going to be the new ceo, to replace greg creed. create has been there since -- creed has been with the company since 2015. gibbs is pretty much a lifer here. here at oneadership of the bigger fast food companies. caroline: ups is reaching for new blood, changing their cfo. they have brought in someone from outside, from pepsico. ryan newman will be appointed as ceo. crosswinds, all the winds for a company like ups. caroli

many thanks to kailey leinz on cbs and viacom. coming up, we know the russians tried to tamper with the 2016 election. what we need to do to keep them from doing it again in 2020? we talk to a senior advisor to the house finances committee. this is bloomberg. ♪ ♪ from the 5am wakers, to the 6am sleepers. everyone uses their phone differently and in different places. that's why xfinity mobile created a wireless network that auto connects you to millions of secure wifi hot spots. and the best lte everywhere else. xfinity mobile is a different kind of wireless network designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you buy an eligible phone. click, call or visit a store today. david: this is "balance of power" on bloomberg television. i'm david westin. bloomberg first word news, we go to mark crumpton. disruption yetst to hong kong's economy since disruptions began in june. airport authorities canceled are many flights a day after protesters jammed that terminals for a fourth day

you have a deal being outed viacom-cbs. viacom down and cbs lower fractionally. the terms of the deal we are hearing about would give cbs a slight premium. cbs shareholders and investors, both companies are frustrated. maybe it is just a timing thing but right now viacom is down 5%. tractor supply one of the worst performers in the s&p. it gave a poor outlook and instituted a dividend. that has turned the stock lower. the best performer, a positive --rt ruling guy: let's talk about what is happening in the u.k.. we will talk about italy in a moment. let's talk about the u.k.. for the last few minutes, we have learned that the president of the united states, donald trump, speaking with boris johnson a little earlier on today. they talked about trade and they talk about security. it would be fascinating to get a few more details and i'm sure they will reach out -- they will leak out. longview economic ceo and chief market strategist still with us. do you like u.k. assets? boris johnson is hanging a lot on the future of the u.k. on his relationship with donald trump

viacom shareholders don't seem to be like the terms we are hearing about. reporter: some of the reporting out there, specifically dow jones, talking about a slight premium for cbs shareholders, and as far as the deal being finally done, if it gets done, this has been talked about so much over the years, it is kind of the challenge of putting humpty dumpty back together again because these companies were under the same corporate roof until the early to thousands when they were split 's when theyrly 2000 were split up. it shows you the difficulty they have been making it all fit, setting up the management, talking about a stock deal with the exchange ratios, all of these sort of details. let's just say it is not going easily. guy: i'm really curious about why not. since 2006 come of these companies are split apart. why is it so hard to put them back together again? what is it about these two businesses that don't fit neatly back together? what has changed? avid: it may be more of matter of personalities then the businesses themselves. if you think about the r

first of all, viacom and cbs. the boards were working through the night, trying to announce maybe today that they will put cbs and viacom back together again. both companies are having a bit of trouble. the question is, what do they do when they get them back together? nejra: what a long time coming this has been. the second company we are looking at is aramco. here's the cfo on the company's up and downstream. >> the perspective of the market conditions, oracle within the country in upstream -- within the company in upstream is to maintain our position as the and crude producers increase the petrochemical production. nejra: so a 12% drop in the , tot six months of the year try and diversify away from saudi arabia. david: a very rich valuation, it seems to me. for our third company, we are looking at for saatchi. --dan -- at verse saatchi at versace. joining us now is brooke sutherland. these countries that are cities in china's mind, hong kong and taipei, this latest issue lists taipei as a separate saatchi -- by

viacom ceo would lead the new company. for such is loss after one of its t-shirts sparked online controversy. the design lists cities and countries but shows both hong kong and macau as independent nations. verse she says it is "deeply sorry and resolutely respects china." -- he says he will continue at the swedish event company until a successor is in place but is looking for another challenge in his career. sharesis tenure, his have outperformed industry peers . ams has offered 3.7 billion euros for ashram light. -- osram light. the offer is higher than 35 euros a share. that offer was accepted by osram's board. it was rejected by top shareholder -- by the top shareholder. francine: thank you so much. the bid for full control has started on the beach. he is on the campaign trail after pulling the plug on bullish government last week. he is calling on swift elections. tadeo. us now is maria is he ready for an election? morning.od he is 100% ready for this election he wants this election. he went out here and speaking to p

cbs would get six out of 13 seats and viacom gets four. apple will soon start handing out special iphones to security discoverrs so they can flaws first. apple is offering up to $1 illion to find problems in its operating systems. caroline, that is your business flash update. caroline: we're going to return to one of our favorite topics on the show. it's meatless meat. newcomers like impossible foods, legacy veggie burger producers are changing the recipes and the to keep up,d trying but have lost the market share. they have r farms, seen a massive growth in sales, pie is slowly e being eroded. joe: we both grew up in vegetarian families. think about all of those fake burgers and fake hot dogs and i those es feel sad for companies because they were so early, the classic too early thing. romaine: can we admit, some weren't very good. out, my mother own.d make her it was basically borderline child abuse. they got boca burger. go into stores now, once of get past the meats, all these are there. they don't have the same marketing power. some u

viacom. this is bloomberg. g. from the couldn't be prouders to the wait did we just win-ners. everyone uses their phone differently. that's why xfinity mobile let's you design your own data. now you can share it between lines. mix with unlimited, and switch it up at anytime so you only pay for what you need. it's a different kind of wireless network designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you pre-order a new samsung note. click, call or visit a store today. ♪[music] news.omberg's first word british prime minister boris johnson is urging the european to show common sense on brexit. johnson wants the e.u. to says isthe deal, he unacceptable. the prime minister adds there is plenty of time to get a new before the october 31 deadline for leaving. the british parliament has deal three times. trade negotiators are currently meeting ino washington in september but recent escalations have raised the possibility that talks could break down once again. president trump spoke to reporters at the white house today. >> what is happ

they are still debating exactly what premium cbs has to pay for viacom because viacom is losing money right now. they've been a little bit depressed in the share price market cap. so that will happen, but a lot of analysts are saying they are going to be another player in the streaming wars. that is not going to happen. they are too small. they don't have the financial resources. i think as soon as this deal is done and they are a recombined company again, the buyers are going to be in line, knocking on the doors. vonnie: and who might those be? porter: verizon a year ago made an offer. i think they need something to compete with at&t, which bought time warner. you have verizon, then there's microsoft, which has 80 million xbox users deployed around the world that can stream anything, but they don't have any content to sell those 80 million xbox users. apple is pretty thin in terms of content. they are coming into the market later this year, early next year. there's no shortage of buyers for cbs-viacom. vonnie: porter bibb, thank you. porter bibb, mediatech capital partners managing p

., cbs and viacom. may be one with what we are seeing with drug , they are certainly involved in the business. there will be a few reports worth focusing on. of the point, the bulk numbers are out, we know earnings are up not a lot. the latest figures .1 .5%. the question is where do we go from here. dicey given a bit the potential on trade and other issues. vonnie: thank you as always. dave wilson with an update on what the market is doing. growing to $75 billion, coming to the market today. book is now basically the largest since aramco. i'm interested to which durations are selling the most. this is to find the anadarko deal. what the market turbulence over last couple of days, it is unlikely they were like to do it. softening does not look that great. islooks as if the order book substantial. i guess given the size of the acquisition, it has to be. let's look at where european markets have settled. we are through the auction process. a very negative session. we have come down. we started off positiv

cbs and viacom. we know what their earns are but we would know who would manage the company if they happen to merge. the head of viacom will be the c.e.o. the head of cbs will run the cbs part of the assets and we know the c.f.o. will be the cbs person. they're not saying they're merging but just in case, they've got a plan. alix: maybe if something comes up, they might have a plan. tyson foods out with earnings. delivered pretty strongly. they beat on the bottom line, they also came in right above their expectation. estimates for the top line as well. and the big takeaway for me is that the best could be yet to come. you have the african swine flu decimating the hog population in china in theory for the guys like tyson, they have car gill. this is going to be very good for them going forward because it's going to be a huge lack of supply of protein like chicken and beef that they will have to send over to china. and you will have a huge lack of supply. that's not happening yet but it will be a big b

viacom, 14 minutes of advertisement for our. -- per hour. executives are realizing this, and the viacom 2013 thatsaid back in the commercial minutes were unhelpfully high, but they have to pump in more and more commercials because there audience -- the audience is getting smaller. rather vicious than virtuous, but otherwise they have to charge the markets more per advertisement. scarlet: there is a great line in this story from someone who is observing all of this, saying that to many commercials is probably the main reason people cut the cord, but it is definitely in the top five. for younger generations, like my kids, too many commercials is why people do not even bother paying for cable tv service to begin for it. -- begin with. they see the commercials, i do not want anything to do with this. they either have to cut the advertisements out of youtube, getting premium services -- scarlet: just turn away for four seconds and hit "get add -- "skip ad." ads are so much longer in america than they are in europe. they go on and on and on, they