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tv   Trending Business  Bloomberg  April 26, 2016 9:00pm-10:01pm EDT

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♪ good morning. this is "trending business". ♪ we will be live in new york, singapore, and sydney this hour. but first, here is what we are watching. apple plunging after hours, of first quarterly revenue drop in a decade. demand for iphones wayne's. the white house front runners are having another good day as five states hold primaries.
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rhetoric and the uncertain outcome is hurting the american economy. mitsubishi motors fears the end admitting it has been falsifying field data for 25 years. regulators want answers. , andw me on twitter include #trendingbusiness. inna and hong kong markets 30 minutes, but singapore, taiwan, and malaysia have come online. good morning. investors cautious ahead of the central bank meetings. session, starting to pick up on gains in the u.s. and european markets overnight. some downside when it comes to technology, those apple earnings
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missing expectations. risk aversion staying put in the asia session ahead of that trifecta of central bank meetings. the strait times index down three tens of 1%. namese way down by tech -- taiwan weighed down by tech names. the malaysian markets are down 2/10 of 1%. comes tode when it australian stocks, a rebound in crude oil and other energy names , basic miners doing well today, up three tens of 1%, weakness out of kiwi stocks ahead of the decision tomorrow. apple fell almost 8% in extended trade after posting its first quarterly sales drop in a decade.
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it is painting a gloomy picture for the current quarter, predicting a double-digit decline in revenue. we are taking a look at this. yvonne: 51 straight quarters of uninterrupted sales growth is done for apple. it is over. analyst did 13%, not think it would be that bad and were expecting revenue at $52 billion, but it is the first sales drop from apple in more than a decade. 2003 was when we saw that trop in revenue. iphone sales figure as well 16%, 51.2 million iphones sold, the first decline in sales in the iphones nine-year history, and the third quarter could look worse. apple expects sales from $41 billion to $43 billion. tim cook said the smart phone market is not growing, and
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china, a source of strength, now a problem. sales in greater china fell 26% in the latest quarter. tracks china sales. blue is without greater china. we are seeing both now below water, and that loss seems bigger and china than outside the mainland. if you go back one year, greater china sales skyrocketed 70% or sales and exceeded overseas. there has been a shift in tone from 10 cook on china. he once said china's economic growth troubles had nothing to do with apple, but three months ago he warned sales showed signs of economic softness. we are seeing that, particularly in hong kong. tim cook saying the weakness in the greater china region due to
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what is going on with the hong kong dollar with it being pegged to the u.s. dollar, also the hong kong dollar strengthening in comparison to the yen. that is obvious he hurting chinam, shopping rates in , and that is hurting sales in hong kong as well when it comes to jewelry, watches. we just got dated this week saying that we are down more than half since that mid-2013 peak when it comes to retail sales in the city. the chief source of strength, one of the biggest -- a continuing list of bombers for apple. >> thank you for that. apple has many asian suppliers. let's see how they are trading. in cases where there is bad news out of apple or rumors of bad news out of apple, we see
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asian suppliers taken the brunt of that, and we are seeing that today, although a mixed picture. session, we have a strong session from this company yesterday and are seeing them extend this rally despite disappointing earnings. hynix manufactures semiconductors and computer chips, up three tens of 1% despite the news. , one of the biggest the kleiner's in terms of this group. it makes these retina screens for apple, being weighed down by the anticipation of slowing demand. samsung electronics, marginal losses, a conflicting set of drivers, not only does it manufacture components for apple , it also battles it out in that increasingly competitive smartphone space. tokyo,anese session in this is a company that
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manufactures keyboards for apple. is profitard that it earnings demand falling across the board, not just smartphones, but macbooks and other products as well, up and down by three tens of 1%. by nine tens of 1%, manufacturing these led screens for apple, and leslie on a take a look at the early tie when he session, it is this is where we are finding the major apple suppliers, the components assemblers, foxconn down, catcher checkdown, pegatron carpet down. thanks. we will take a more detailed look later in the scop it we want your opinion, tweet is your thoughts. breaking news out of south korea, kia motors first-quarter net income, i huge beat, 944.6
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billion one, the estimate was 4 billion yuan.0,00 , operating profit beating estimates at 634 billion. the estimate was 530. kia motors breaking news out of south korea, i huge beat for sales and net income. moving over to the u.s., donald trump has swept all five northeastern primaries, pulling further ahead in the republican nomination race. on the democratic side, hillary clinton one in pennsylvania, maryland, and delaware, and is a cleanentially making sweep we are following developments from new york. so donald trump took them all to do the other candidates have any chance now? >> absolutely, there is a
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longshot chance for john kasich and ted cruz in indiana a week from tonight, and there is to this out they can deny him the 1230 seven delegates needed to get to the convention. if donald trump shows up in cleveland, 1236 are anything less than 1237, they will take it to the floor and let the delegates decide, nuts when things create crazy, so it is not locked up for donald trump yet, but a big night like this helps. turn to hillary clinton. we are waiting only for pennsylvania and rhode island, but a very dominant performance there. yeah, hillary clinton represented the state of new york for eight years, sector's state of eight years, well-known figure in his part of the country, bernie sanders from vermont also from this part of the country, but also a good night for hillary clinton. she has struggled in connecticut, the could be one bright spot for bernie sanders, but by any measure a very strong i for hillary clinton come and that is but are very close to
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the number of delegates you need for the nomination worried i think will be very hard for bernie sanders to make an argument to go on, but i'm sure he will anyway. >> you are right. how is bernie sanders inspected to do? >> he could still pull it out in connecticut, and he sounded feisty tonight. he is reminding voters that he has done well among independent voters and some of the states were independent voters can vote. he is saying he is the best candidate to take on donald trump, ted cruz, or whoever the republicans put up in the fall. their argument has not been far with the democrats you, but he is making one more try. he's not going quietly, and we will have to see the post our morning how bernie sanders are asked to the results tonight. >> thanks a lot for that. let's take a look at other stories we are watching. juliette: good morning. we love twitter, but many down. aftercial network tumbled
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company said second-quarter profit will fall short of analyst estimates. you can see that big drop on the bloomberg. twitter has added more users in the last quarter after . twitter said sales will be around $590 million, missing the six and a 77 million dollars average that analysts had projected. jack dorsey says there are 310 million twitter users in the world. the company is trying to make its product less daunting for new participants and has recently hired a new marketing officer and created a life news stream called moments. that samsung has decided that if you can't beat them, join them. we are hearing that company is in talks with apple to be the exclusive supplier of displays for iphones scheduled for release next year. it is tempted to spend $9 billion to beef up its capacity brighter, andner,
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less training screens. apple sold more than 231 million iphones last year, while samsung display made about 3 million keepns a month, so just to pace, sam son would have to boost production by a factor of at least six. shares currently looking like this in seoul, korea, down a quarter of 1%. we will be watching galaxy entertainment shares on the open in hong kong at the bottom of the hour, the macau casino operator has reported a 2% decline year on year in first-quarter revenue to $1.7 billion, first-quarter profit rose 6% to 314 million dollars, slightly below the estimates of five analysts we survey. contribution from high rollers offset the recovery among casual gamblers. galaxy shares have risen so far in 2016, up over 15% him and that is compared to a 2% decline in the hang seng. >> thanks. still ahead, michael jordan
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takes a long-running trademark battle to the chinese supreme court, details later. next, the new magic number for oil, $50? we will discuss that and more when "trending business" returns. ♪
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shery: breaking news, bernie sanders wins rhode island against hillary clinton. we are now waiting for the results in connecticut. picturese these live of hillary clinton's speaking live in philadelphia. she took the primary darren pennsylvania. to build a middle-class life and raise a family. then her luck change. she was diagnosed with breast cancer and used up all her savings and are sick time. soon she was facing foreclosure and the prospect of losing the
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home she loved for more than 20 years. here is what she said to me. live in fearnd i of the day that we might, home and have a lock on the door. we are in pain. we are hurting. we were and are the backbone of this country, the middle class. we are not asking for a handout to it we just want to be treated fairly. [applause] she is speaking for so many people across our country who feel beaten-down, left out and left behind, people who have worked hard and done their part, but just can't seem to get ahead , and find it tough to even get by. worries,h all these together we are going to come together and solve the problems. [applause] >
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that was hillary clinton's speaking of voters in philadelphia. she took the primaries in pennsylvania, delaware, and maryland. we are still waiting for connecticut. hillary clinton lost to bernie sanders in rhode island here it we will have the latest when we get the results in connecticut. three central banks will release bnz,r decision tomorrow, r the boj, and the fed. our next guest refers to them as the good, the bad, and the ugly. it is an interesting analogy. explain this to us. i think it's quite simple. have a dovish outlook, two
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and a half figures higher from when they moved in march. that is the good. i think the bad is going to be the fed. no one is expecting anything. the risk is to the upside if they come out with a hawkish statement, but given the key event risks around june, july, briggs it being the main one, you can assume it will be a neutral to dovish statement if anything at all. the ugly is the boj. i think the boj is divided where they're going to move are not -- whether they are going to move are not. shery: how much is enough stimulus at this point? it is difficult for the boj at the moment. how do they satisfy the market. this is the key question that not only everyone is asking themselves, but also the boj. as you and your viewers know, when they move for qe3, january 29, dollar-yen was 118 before
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they moved. we had that quick spike up, and we are obviously a lot lower. we were won 12 this morning, so significantly lower, and i think it is a sign of qe fatigue that we have been talking about for a while that is showing its phase come so the boj is thinking two things. the first is that qe is the next financial gain. every time you have to come back to the table, it has to be higher and harder. another is what level do we have to come in. i think it is the 100-105 level. the next question is how hard and what else can they do. a have to do something epic to be a real game changer. looking at the oil markets right now. some people are calling 50 the new magic number, where we would see a sustainable recovery in -- industry, but i know that i really thought your analogy was interesting. not spot of their
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even if he watched kung fu panda three. explain that to us. >> two weeks ago, there was a tactical short trade put out, completely close it out on monday. it was profitable. the fact that it had rallied so quickly back basically tells you that the bulls are in control of oil. the sentiment is so large that it does not care what fundamental data is out there. i think he was a $50 in oil .efore you see $40 and oil i think $37.50 is the new low. thank you very much for that. -- ing us from breaking news for you, comcast is said to be in talks to buy dreamworks. comcast is said to be buying
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dreamworks. we have breaking news on that at the moment. these other stories making headlines around the world. >> now to the stories making headlines around the world. south korea says the north has placed a new midrange missile on standby and is completed preparations for a fifth nuclear weapons test. young yang could act at any moment, but did not elaborate on that assessment. ae north has claimed to fire missile on the weekend, although seoul and washington can confirm whether it was a success. india has turned up the heat on a tycoon, describing him in court as a fugitive. the attorney general said the founder of kingfisher airlines left the country without paying his creditors. is 1.4aid to oh on billion dollars for his collapse carrier. he said he moved to london to spend time with his children and denies he was a willful defaulter. prince, the singer died without a will.
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it would asks said i a court to appoint an in ministry to her. the court papers don't estimate how much prince was worth, but his legacy is expected to generate a fortune. in the three days after his death, fans bought more than 2 million of his recordings. powered by over 2400 journalists and 150 bureaus around the world, this is bloomberg news. coming up, mitsubishi's existence is under question as the emissions fraud crisis widens, the latest live from tokyo when "trending business" returns. ♪
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shery: welcome back. mitsubishi motors has admitted falsifying test as far back as 1991 let's get more.
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another crisis for the company. can they survive it? it seems that investors are betting it won't. shares down to where the market cap is less than the cash on hand. sign that they are betting that either the company will be broken up and sold off or it will be a long struggle to survive and it will have to sell all some pretty vague assets and it certainly won't survive in its current form. sort of a curveball is that mitsubishi is part of the mitsubishi group, which includes mitsubishi corp., mitsubishi heavy industry, which has bailed it out in the past. the problem is those companies are not in great shape mitsubishi corp. has 10 hard-hit i declines in the value of
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commodities they trade. hasubishi heavy industries just reported earnings that disappointed, missed their targets, so they are not in great shape, and they have also told us already that they are waiting to see how far the scandal goes before they can say whether they would be in a position to render any aid at all. mitsubishi motors does have some technologies that probably will survive. there is electric vehicle was among the first to be massed produced. that has been well recognized as a viable technology. company'sith the hybrids. those have done pretty well, so there is some speculation that there could be buyers for that technology, if not the company itself. within japan, it is hard to see one of the bigger carmakers taking them in, but there is some speculation that there could be a buyer from china or india looking to get a start in the car market.
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it's a be she has a strong business in southeast asia. we have to leave it there. shery: coming up next, inflation expect haitians. we have the numbers out of australia win "trending business" returns. ♪
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shery: these are the top stories trending. donald trump harrows one a clean sweep. it bolsters his chance of securing the republican nomination before the party's convention in july. hillary clinton won four states, pennsylvania, maryland, connecticut, and delaware. bernie sanders one rhode island, but has vowed to stay in the race regardless of today's results. taken aares have
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nosedive in extended trade after its first sales drop in more than a decade, and forecast another decline for the current quarter. second-quarter revenue slid to just over $50 billion. a 60% drop in iphone shipments and forecast revenue of 41 billion dollars to $43 billion this quarter, representing another double-digit fall in sales. tumble ins taken a extended trading after missing revenue estimates. it was expecting second-quarter sales to be under 610 million dollars, analysts were projecting $677 million. twitter also missed its first-quarter revenue estimates, signaling that it struggled to add new users and it has affected advertising sales. you,ve breaking news for australia's latest inflation figures crossing the bloomberg. let's get straight to paul allen in sydney for the numbers. here.a bit of a drop
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the quarter on quarter cpi mean not looking back, .2% as expected, but the and down to 1.3%. we had been expecting 1.7%, so a sharp drop there. the aussie dollar dropping pretty sharply on the back of this is well, currently off by .5% on the back of this news. more broadly, it does underline just how benign inflation is in australia. the next meeting is on tuesday for the central bank, and it's unlikely they won't move the cash rate from 2%, not only because things seem to be under control, but the budget is due out a few hours after that meeting.
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the dollar moving strongly on that result. to recap, annualized inflation to 1.3%,lia cpi down bigger drop than expected. thanks for that. breaking news out of china, industrial profit rose 11.1% in march after profits fell 4.7% in the previous month. thatymakers were hoping rising profits would revive china's industry, also triggering a fresh round of hiring and capital spending. now we are hearing that industrial profits for march surged more than 11% year on year. let's see how all of this is playing out on the markets with shanghai and hong kong online. how is it looking? andy: that is a monster does your profits number out of china, way beyond expectations,
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but continuing to paint the picture of a recovery. having said that, were looking kong, china open in hong all 3/10 of 1%, shanghai flat. when we do get good data out of china, that tends to reflect negatively into investor sentiment, because it suggests we will get less or no easing measures from the pboc from chinese authorities. perhaps even further pushing out expectations of a rate cut. elsewhere around the region, mostly a down day with the exception of australia, up three tens of 1%, led higher by energy and oil majors, really coming off yesterday's loss. ofaysia also up by a 10th 1%, some strength in those oil producing as well, but around the region, kiwi stocks a little decisionad of the rbnz
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tomorrow. analysts are split on whether the rbnz will move ahead with another rate cut. taiwan, a dry coming through from these apple suppliers. take a look at the weakness across the japanese and korean suppliers, and that is the case. one and 2/10 of 1%, unmanufactured of this green that is taking the biggest pressure from this foxconn shargh sharp tie up which is expected to deal more market aare away from lg display, as result, sharp up a tens of 1%, that acquisition by foxconn giving it a bargaining strength and able to snare more orders as they become available. japan down by half of 1%.
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foxconn down 6/10 of 1%. down by over 2%. there is a sense that they are affected by apples disappointing earnings overnight. motors,ckly, kia earnings beating estimates, but still downside, three tens of 1%. ofk of china down three tens 1% buy a small bead on the net but on the downside net interest margins fell, nonperforming loans continue to rise. let's stay with apple and see what the reaction has been on social media to its earnings. what are people saying? they wereey said expecting this when apple sounded the alarm, but were not expecting it to be this bad. people were casting doubt about whether apple and tim cook and
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turned the corner for the company. one user saying that apple falters inevitably, markets flooded with smartphones and gadgets, and no steve jobs to break amazing new ground, so a lot of doubt on the ceo as well. another users saying that investors have to face the fact that consumer electronics revenue has reached saturation and can't grow indefinitely. we're seeing one of the most pronounced low downs in global mobile demand on record. one last one here with apples 2 billion dollar inventory right up apple supplies are reporting poor results and no longer get away with futures quarters talk. we sold the stock falling 8% and after-hours trade, some thing that wiped out $40 billion in comes toe tesla clinic market cap, and 10 mitsubishi's. aery: i'm speaking to
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research firm later and the show to break down those results. things a lot for that. it has been another good day for the presidential front runners. donald trump has swept all far northeastern primaries, pulling further ahead in the republican race. on the democratic side, hillary clinton one in pennsylvania, maryland, and delaware, but bernie sanders took rhode island. let's bring our watching 10 bureau chief. anything stopping mr. trout now? tonight's margins were really surprising how big they were we always expect that but we don't expect to see margins that are plus 30 points that we saw tonight, sort of across the board. this comes down to the math, what donald trump as shown tonight at that he's can take nearly all the delegates on the ground tonight that are alleged to him going forward, and at takes him closer to securing the nomination outright before convention. he is basically chipping away at
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or stop-trunk movement alliance between his two biggest competitors, ted cruz and john kasich. shery: which donald trump are we his big later? will it be a more presidential figure or just the usual angry populace we have seen so far? lasten he won new york week, he was careful to reframe his message and take a more presidential town. he has been advised by the people he has brought on in recent weeks that he needs to change his tune and come across as someone who is more knowledgeable, experience, world leader type. we get have to see what tonight. i suspect he will try to be focused and talk about how big this win was tonight, but you never know. it is always unpredictable when he comes up to the podium. you said it. let's turn to the democrats. strong,clinton looking
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so where does bernie sanders go from here? >> bernie had a good night tonight. wellllary clinton has done tonight, particular among white voters, something she has lost in states before, particular among women, strong night there. this will not be bernie sanders last stand, but they will have to think about what kind of message they want to take forward. where they unify the party more, --not have such a to manage damaging, protracted fight, vicious battle that could damage the party's prospects in general elections, so we will be looking for a little bit of recalibration and what he doesn't his message and what he says reporters going forward. great taking talking to you. joining us from washington. checking in on other stories we're following. at nomurat cuts meaning savings annually. the largest securities firm will give details when it releases results later today.
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we've also been told the top executives are expecting for cuts to reduce profits from its overseas operations this fiscal year. that will be the first since 2010. standard chartered shares jumping in hong kong this morning on earnings results that surprised the markets. ceo in ano the exclusive interview. hestarted by asking whether has been feeling better about china in the past few months. >> it does feel better. i was probably never in the doomsday camp. if i have been, i would not have done this job in the first place. there were clearly some policy fumbles and august last year, end of last year, beginning of this year. there was a failure to communicate intentions to the market about the currency markets equity markets etc.. against that backdrop, the actual economic activity is
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good. you can discount the numbers and it is still good. i think the numbers are fair enough. there is a clear shift towards a service and consumption-based economy. growing, and i think, this monster the result to do with the capacity overhang from the state owned enterprises. a lot of the growth is real. it is the result of a substantial increase in that debt stock. that debt stock is a policy matter, big state banks and capital markets, encouraging that creation. that is mortgaging the future, but how much of that 6.8% growth it simply manufactured through increase in debt and continued capital spending versus real underlying growth? ishink the majority of it real underlying growth, and most of us would be happy with 4% of 5% growth with no incremental increases in debt, specially in the second biggest economy in the world. >> you are not concerned about
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the faults? you are active in china. the localactive in lending and local capital markets, but of course we are concerned about the faults. there has been an increase in nonperforming loans. they are still manageable. and managed.geable however, the quality of our book in china is concentrated towards investment-grade companies and in the banks. we are a trade bank. business isf that pretty encouraging, but where we have a broader base commercial banking and business banking business, were seeing some strains as the economy adjusts, in particular in the old economy areas. we think this is manageable in the overall scheme of things, and the magnitude of the problems we have had a small compared to some of the challenges and other places like india and africa. that was bill winters.
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just ahead, tapping into sports broadcasting rights. can try how investors for a piece of the english premier league deal when trending business returns. ♪
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>> welcome back. and these are the world. brazil's president goes on the attack, accusing those seeking to impeach her of being corrupt. chez singled out the house speaker. the lower house voted for her impeachment, and the senate will make its decision soon. brazilian stocks, bonds, and the currency have all climbed on the prospects that she will be ousted. spain headed for new elections in june after parliament failed
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to select the prime minister for the first time in its democratic history. whole to talks after a third round failed to produce a result last december's result produced the most divided parliament ever. june 26 is the likely date for the new poll. suing led zeppelin for plagiarism over their most famous song say they are willing to settle the case for one dollar and a songwriting credit. the supergroup is accused of basing the opening strains on a song by a band called spirit. estate tontitle his royalties and the tens of millions of dollars. powered by over 2400 journalists and 150 bureaus around the world, this is bloomberg news. the english premier league has become a multibillion dollar brand with millions of
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fans across asia. asian investors can try for a slice of the league. calledhas been launch football finance, which focuses on broadcast rights. the man who runs that fund joins us from singapore. works andw this fund how you are targeting a 6% return in this low yield environment. >> good morning. the fund is very simple. we kept it that way for a reason. and wee money from asia fund the football clubs in the league and the u.k. the football clubs require money in advance of their lucrative tv rights check, most of which
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comes at the end of the season, so we have rich to that gap, funding the clubs for a fee, and that fee is converted into a coupon via an etf traded on the frankfurt exchange, and kleins get a coupon every year. get a couponents every year. shery: can ordinary investors get a piece of that fund it? the fund is for accredited investors and professional investors. we wanted to keep the fund accessible. there are multimillion pound contracts, but we've cap the minimum at $250,000. kept the minimum at $250,000. shery: how correlated is your
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fund it with other assets? >> foot ball finances completely unique. it is the first of its kind in the world now. broadcasting rights, and especially sports broadcasting rights, are completely uncorrelated with the market. always watch the match every weekend, and it is estimated at over one billion fans watch football weekend and we got in and around asia. shery: there has not then a itstage of scandals, could popularity declining affected your fund in the sense that you are funding the rights to tv broadcasts? to mentionu're right that there have been scandals. however, the english leaks have largely been separate from that.
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the following in asia for the big teams is really somewhat of an obsession out here. there has not then to much of a knock on effect from the scandals. football is becoming increasingly popular in asia, but what about the popularity of , doesative investments you launching the fun reflected a change in appetite from asian investors? >> indeed, yes. markets have change, volatility is around every day, and kleins are seeking more alternative buck.f earning ua football finance note is one example, and we will be ron ching a whole range of products. i am yvonne man. shery: you just close your first round of funding. what is next for the fun? >> that's right.
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we got our registration with the monetary authority on the fifth of april, so it is early days, but we are pleased to complete with 14t round cornerstone investors. we are well on our way to our $250 million target, and we will be moving into other sports shortly and we are already in discussions. luck with that and thank you for joining us on "trending business". show, he is not -- the latest developments in michael jordans decade-long trademark suit. ♪
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welcome back.
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the former in be a superstar michael jordan is going for his toughest win yet in the supreme court of china. judges may rule within days on a trademark suit against a chinese sportswear company with a name and logo that is strikingly similar to michael jordans. we have more on that. they set up in 1984, and a decade ago, they registered in china the trademark for this. china as then in transliteration of michael jordan. that is what he is arguing. there are a lot of people saying there are a lot of people named jordan. there is the country jordan, so there is some
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literary bias. they first sued in 2012 in the lower court and lost that case. they have taken it to the supreme court. the first hearing was in beijing yesterday, so we are expecting some sort of ruling. accordingmportant one to legal experts because china has been taking intellectual propertyction seriously, and they are taking this case very seriously, wanting to show to the world that we will protect foreign intellectual property and china, or maybe not. maybe they will go back on that. the lower courts said they were the first to register the trademark, and therefore we will recognize that. it will set a legal precedent. shery: what is the expectation? >> we don't know if they will
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win or lose. the history is not on michael jordan side. , they've been fighting battles with knock on versions for years. , a number of different automobiles have had their property rights ripped off places toth no legal get justice. shery: we will be closely watching that. thanks a lot for that. had a lucrative day on tuesday, adding $4.3 billion to his fortune and becoming asia's richest person in the process after alibaba's e-commerce affiliate raised $4.5 billion in the latest fund-raising round. his personal wealth stands at 33 -- $33.3billion
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billion. ascould be short lived another billionaire reorganizes his entertainment business. coming up, plenty more with apple's latest revenue. ♪
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>> from our studios in new york city, this is charlie rose. charlie rose: how did you come to this? >> well, it is weird and i feel like i found a family in my head and i got interested in doing a show without the audience and the laugh track and the need for constant jokes that sitcoms have. what you are left with is a live feeling. it feels like it is a drama or something. i got the idea of a show like that. charlie rose: it is a drama? what is the story?

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