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Jul 11, 2014
07/14
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the people of new york. lyft's ceo will join me here. lyft, andft, -- wise it sparking so much controversy? if you see a giant pink mustache driving towards you, don't be alarmed. liyfyft car.it is a >> the passengers badly, the driver is smiling. >> these let you use app to get a ride. >> owning a vehicle is the second-highest household expense. there had to be a better way to collect -- connect people who needed a ride. >> opening up, enter your location, and a car shows and. -- shows up. than a black sedan, or a taxi, and it helps put cash in the pockets of regular people. >>. between main. lifts inrted offering his car. he can bring enough to do under dollars a day. >> you can really be able to help out. a lot of people -- i need rides. you get to be there for them. >> matt miller joins us from new york. matt, we will see you taking a ft in new list -- a ly york. >> i used my own car, put pink mustache on it, and drove around. >> i can we do see it. no one asked you about the new york attorney general's
the people of new york. lyft's ceo will join me here. lyft, andft, -- wise it sparking so much controversy? if you see a giant pink mustache driving towards you, don't be alarmed. liyfyft car.it is a >> the passengers badly, the driver is smiling. >> these let you use app to get a ride. >> owning a vehicle is the second-highest household expense. there had to be a better way to collect -- connect people who needed a ride. >> opening up, enter your location, and a car...
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Jul 12, 2014
07/14
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there will be >> the new york attorney general has announced they are trying to ban you guys in new york. >> yeah. >> what is your response? this has develop quite quickly. >> we are in regulatory proceedings as we speak. to fully understand the dynamics of the situation, it is important to understand the history a little bit. if you go back 80 years before the medallion system existed in new york, there were 30,000 caps -- cabs on the streets in manhattan. when the medallion system when in place, there are 13 thousand, less than half the number of cabs that new york city needs. this artificial medallion system, these medallions are valued at about $1 million a piece. they are owned by very wealthy individuals. when you add that value, that is over $13 billion. when you see a big controversial regulatory battle playing out, what is happening is you have these wealthy medallion holders doing everything they can to protect this asset. it defies all logic. it is worse for the driver. it is worse for the passenger. passengers pay more, drivers earn less. lyft is there to open up a new altern
there will be >> the new york attorney general has announced they are trying to ban you guys in new york. >> yeah. >> what is your response? this has develop quite quickly. >> we are in regulatory proceedings as we speak. to fully understand the dynamics of the situation, it is important to understand the history a little bit. if you go back 80 years before the medallion system existed in new york, there were 30,000 caps -- cabs on the streets in manhattan. when the...
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Jul 26, 2014
07/14
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york and new jersey. this is a super bowl of a lot of firsts. this is the first time it is being hosted by two teams, the first time it is being hosted by two states and one big city. the first time the game is being played in a northern city in a building without a roof. >> bringing the super bowl to the new york region has been a decade-long effort for tisch. it began after 9/11 when he began pitching the idea to nfl and local politicians as a way to jumpstart the stuttering economy. it was not until the metlife stadium was built in 2010 that the idea caught on. >> the nfl owners liked to bring the game to some of the newer stadiums to highlight them. they wanted the world to see this great facility. >> many will be watching super bowl xlviii. perhaps no venue is better prepared for an event like this. 20 times a season, metlife undergoes a transformation. a staff of about 20 take two days to change it from one team to the other -- from jets green to giants blue, or vice versa. that includes the removab
york and new jersey. this is a super bowl of a lot of firsts. this is the first time it is being hosted by two teams, the first time it is being hosted by two states and one big city. the first time the game is being played in a northern city in a building without a roof. >> bringing the super bowl to the new york region has been a decade-long effort for tisch. it began after 9/11 when he began pitching the idea to nfl and local politicians as a way to jumpstart the stuttering economy. it...
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Jul 28, 2014
07/14
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>> we are owned by the new york city football club. we have the new york yankees as the other owner in our franchise. the best thing about having a franchise in new york is having two global iconic sports brands behind this. because of the brand recognition, the access, hitting football expertise from manchester city football club, it has been a terrific marriage of strong brands. >> in college sports -- it is going to be fun to creating new model. this is a somewhat different model than any other professional sport in the u.s.. >> i think you're right. building in pro sports is different today than it was 20 years ago. building in a chaotic market -- this is a 20-year-old league. i think people got a glimpse through the world cup of what soccer can to come. to capture the hearts and minds of new york city sports fans, you have to develop an emotional connection and give them a great experience. >> tim pernetti. thank you. more after this. ♪ >> this is "taking stock." i am cory johnson and for pimm fox. for more on our market moving
>> we are owned by the new york city football club. we have the new york yankees as the other owner in our franchise. the best thing about having a franchise in new york is having two global iconic sports brands behind this. because of the brand recognition, the access, hitting football expertise from manchester city football club, it has been a terrific marriage of strong brands. >> in college sports -- it is going to be fun to creating new model. this is a somewhat different model...
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Jul 1, 2014
07/14
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new york is a magnet for talent. people around the world want to live here, want to work here, want to visit here. the workforce is at an all-time high. tourists are at an all-time high. we have been focused on buying buildings that appeal to that talent. general growth reaching into retail, 50,000. 500,000 square feet of office space. they called us up and said -- listen, we want this. we said yes, we look at the numbers and said that this was a great value. the big thing for us was buying irreplaceable assets. the average price of $9 billion in assets at $600 per square foot were replaced. >> so, that is a pretty big discount. it is 70% occupied in this building. how are you going to get it 100% occupied? >> we are focusing towards financial service and median tech tenants with a 100,000 square-foot block in the lower levels with outdoor patios and amenities. the lobby has just and redone on the upper floors, great space that you can pre-finish. we think we will get good rent there and in the bottom. of course, thi
new york is a magnet for talent. people around the world want to live here, want to work here, want to visit here. the workforce is at an all-time high. tourists are at an all-time high. we have been focused on buying buildings that appeal to that talent. general growth reaching into retail, 50,000. 500,000 square feet of office space. they called us up and said -- listen, we want this. we said yes, we look at the numbers and said that this was a great value. the big thing for us was buying...
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Jul 14, 2014
07/14
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new york city is growing. there are new neighborhoods. people are moving from out of town to downtown. that trend has started and has been going on for quite a few years. if you look at residential rents , we get our highest rent in new york city and westchester -- in west chelsea. we get our lowest rent on the upper east side. if you told that to a new yorker 10 years ago, they would have said you're crazy. now for littleus bit more. first of all, you look great in a hard hat. i live in chelsea. unbelievable with the rent rise. >> a lot impressed me about walking through. as you mentioned, you live right in that area, so every day you are walking by the construction site and you can see how fast the progress is. one of the most interesting parts about this project was going underneath. essentially, what is deep inside the earth? there is a tunnel being built. a tunnel for a track that has yet to be inked or developed. amtrak. that is what i am talking about. they believe there will be another tunnel to go from new jersey to new york. the
new york city is growing. there are new neighborhoods. people are moving from out of town to downtown. that trend has started and has been going on for quite a few years. if you look at residential rents , we get our highest rent in new york city and westchester -- in west chelsea. we get our lowest rent on the upper east side. if you told that to a new yorker 10 years ago, they would have said you're crazy. now for littleus bit more. first of all, you look great in a hard hat. i live in...
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Jul 8, 2014
07/14
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they may not have had a choice. -- violating new york state law. has been ruthless with its pricing strategy. could you see a broader transportation pricing were created as a result of their tactics? that,tainly you could see but the services that are out of compliance with regulation and eight law, let's just be very transportation regulation state law has not been updated for probably 75 years. there sort of operating in 1950's. it is providing transportation as a utility or simply how we finance the system. the laws are a patchwork quilt that needs to be updated. colorado just passed a law to provide more legislative oversight. understand there are a lot of problems there. they are operating in miami apparently illegally. the laws need to be updated. that is the other problem. >> if they are, will uber actually be stopped? what is the reality? >> in miami they are still operating when they are not even legal under the current miami laws and regulations. they have been brazen in their pricing in their ability to come in and operate even when they
they may not have had a choice. -- violating new york state law. has been ruthless with its pricing strategy. could you see a broader transportation pricing were created as a result of their tactics? that,tainly you could see but the services that are out of compliance with regulation and eight law, let's just be very transportation regulation state law has not been updated for probably 75 years. there sort of operating in 1950's. it is providing transportation as a utility or simply how we...
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Jul 9, 2014
07/14
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there's a new player in new york's taxi and car service war. car summoning start up lyft plans to launch in new york city this week, taking on rival uber, one of the biggest u.s. markets is right here in new york. this will be about ridesharing. the news comes after uber's announcement this week that it 20%, claiming its service is now cheaper than new york taxis -- >> it is. >> if you watched the bloomberg intern segment, they took it to the test and it is cheaper. >> i took it with my family last night. it is dramatically cheaper. >> and better. that rating system. you have to rate the driver and they rate you. i am on my best behavior. we have an exclusive. you just said "family." you're getting serious. >> wow. we have to bring in matt miller. thate most shocking thing tom revealed is that he took uberx, the cheaper version. >> i do not even know uberx existed. i was going suv. >> lyft is something you will never encounter. >> that's not true. before uber existed, we were in the gnarly asked taxicabs. you're not in the black car chauffeured
there's a new player in new york's taxi and car service war. car summoning start up lyft plans to launch in new york city this week, taking on rival uber, one of the biggest u.s. markets is right here in new york. this will be about ridesharing. the news comes after uber's announcement this week that it 20%, claiming its service is now cheaper than new york taxis -- >> it is. >> if you watched the bloomberg intern segment, they took it to the test and it is cheaper. >> i took...
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Jul 21, 2014
07/14
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york and the northeast. >> in new york, the hotel industry has come back quite a bit. we are close to 2007, before the market crashed. we just got there recently. we have not surpassed that but business is strong. we are seeing more business travel coming into the mix which bodes well for the next couple of years. we are very optimistic about new york. >> your career in the hotel industry, tell us about that. >> i have run very different kinds. i ran a hotel in miami beach back in 1994. there was nothing really in miami. we paid maybe $4 million to buy it. and obviously, miami has changed quite a lot since then. we ended up buying his whole company together. it became morgans hotel group. we took it public in 2006. 2010.ted chelsea hotel in >> tell us about the connection between the restaurant, the food served in the hotel, and the actual hotel property. >> it has changed. our view is taking it back to an old idea which is that the hotel is the centerpiece. it is not about having a flashy nightclub. it is about having all those great elements like a great restaurant a
york and the northeast. >> in new york, the hotel industry has come back quite a bit. we are close to 2007, before the market crashed. we just got there recently. we have not surpassed that but business is strong. we are seeing more business travel coming into the mix which bodes well for the next couple of years. we are very optimistic about new york. >> your career in the hotel industry, tell us about that. >> i have run very different kinds. i ran a hotel in miami beach...
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Jul 11, 2014
07/14
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$750 in new york city. talking to drivers in some oft locations -- them love these services. some of them don't love these services. some have given up and gone over .o uber and lyft some are insisting to drive a taxi, a rune. are the company's right -- c ompanies right going into the cities and waiting it out rather than waiting until it is legal? >> i guess you could think of companies having two strategies. one is to ask permission and the other is to ask forgiveness. in some cases, eventually what -- whether aving government is open to the service is popularity. right now it would be hard to ask uber to stop working in new york. it are so many people have started to rely on it. on this point of view, they come in and that popularity proves the value of their service, then they probably have a stronger position when trying to expand the regulatory framework to accommodate them. >> you say that these services create an infrastructure that can save a city millions of dollars. gabe, you're talking about med
$750 in new york city. talking to drivers in some oft locations -- them love these services. some of them don't love these services. some have given up and gone over .o uber and lyft some are insisting to drive a taxi, a rune. are the company's right -- c ompanies right going into the cities and waiting it out rather than waiting until it is legal? >> i guess you could think of companies having two strategies. one is to ask permission and the other is to ask forgiveness. in some cases,...
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Jul 14, 2014
07/14
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the cover of "new york magazine" says that new york real estate is the new swiss bank account. it has the feeling of maybe there is a bubble in the new york residential market. >> that article is interesting. it was referring to what is happening at the very high end, the 57th street corridor. we have tried to avoid that sector. if you think about pricing in that market, but as a 5-7 house and dollar product that new york is never seen before. our products for the most part will be less expensive than that and will not be competing with those types of buildings. those are truly speculative and all of the buyers are foreign. in our buildings, we find the majority of our buyers are domestic, they are new yorkers and i think we will have a lot of people moving from the upper east side and the upper west side including myself to hudson yards. i don't think we are competing in that market and i don't think that's what will fuel our development. because you have a lot on your plate. you got several developments outside of new york city as well. we'll talk much more on the property ma
the cover of "new york magazine" says that new york real estate is the new swiss bank account. it has the feeling of maybe there is a bubble in the new york residential market. >> that article is interesting. it was referring to what is happening at the very high end, the 57th street corridor. we have tried to avoid that sector. if you think about pricing in that market, but as a 5-7 house and dollar product that new york is never seen before. our products for the most part will...
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Jul 11, 2014
07/14
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that was blocked by the judge in new york. they need to prove they are making good progress on negotiations with the holdout in order to get the holdout to agree to a delay. >> the holdout being elliott. are there more holdouts than just elliott? >> it is a big group. elliott is one of the leaders of the group. this specific lawsuit follows elliott and some other hedge funds. and that includes 13 retail investors. there is a larger group. york wasnk of new holding hundreds of millions of for thein payment restructured creditors. hasn't it gone back? , it is. they issued a motion for clarification to the judge, basically asking what to do now. they want them to return the money to argentina and the bank of new york is saying please don't make us do that because we are really open to lawsuits. and they have gotten a tremendous amount of heat from everybody with anything to gain in this lawsuit. very much stuck in the middle. we don't want to be forced to return this money to argentina met, two conditions are until argentina give
that was blocked by the judge in new york. they need to prove they are making good progress on negotiations with the holdout in order to get the holdout to agree to a delay. >> the holdout being elliott. are there more holdouts than just elliott? >> it is a big group. elliott is one of the leaders of the group. this specific lawsuit follows elliott and some other hedge funds. and that includes 13 retail investors. there is a larger group. york wasnk of new holding hundreds of...
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Jul 8, 2014
07/14
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>> from bloomberg world headquarters in new york, i am mark from 10. this is "bottom line." -- mark crumpton. this is "bottom line." the senate banking committee extends the role of regulation on high-frequency trading. and the high look at robotics. ♪ to our viewers here in the united states and those of you joining us around the world, welcome. full coverage of stocks and stories making headlines today. yang yang looks at the midterm millionaires and the impact on future elections. the centralith banking committee trading on high-frequency trading. we begin with a warning from the u.s. attorney general eric holder. threats from syria could spread york to the west. >> officials have grown increasingly concerned their international counterparts are not doing enough to spin the .eople in and back out of syria in most call a major speed today, eric holder pushed u.s. allies to do more, calling syria a cradle of violent extremism that created global crisis. he went further, saying it in the face of a threat so grave, we cannot afford to be passive. he l
>> from bloomberg world headquarters in new york, i am mark from 10. this is "bottom line." -- mark crumpton. this is "bottom line." the senate banking committee extends the role of regulation on high-frequency trading. and the high look at robotics. ♪ to our viewers here in the united states and those of you joining us around the world, welcome. full coverage of stocks and stories making headlines today. yang yang looks at the midterm millionaires and the impact on...
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Jul 14, 2014
07/14
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lyft become legal in new york? they are negotiating with the taxi and limousine commission after it was sued hours before launch on friday and they say it will not launch and become -- until is approved. callnn is hearing apple's to reduce carbon emissions and factories. the chinese manufacturing giant which makes smart phones, tablets, and more just unveiled plans for an environmentally friendly campus in southern china. the factory there will be energy efficient and use less chemicals and more recyclable material. it is part of foxconn's effort to expand into areas like auto electronics and cloud computing. we got a firsthand look at the site in china. the foxconn chairman has a vision -- a bustling business nestled in the mountains with engineering and academics. we sent a lot of engineers, highly skilled people here, they love this place, its temperature, humidity, air, it's a good place to the late high-tech hub. is the only place aside from beijing that can be the chinese silicon valley with peking university
lyft become legal in new york? they are negotiating with the taxi and limousine commission after it was sued hours before launch on friday and they say it will not launch and become -- until is approved. callnn is hearing apple's to reduce carbon emissions and factories. the chinese manufacturing giant which makes smart phones, tablets, and more just unveiled plans for an environmentally friendly campus in southern china. the factory there will be energy efficient and use less chemicals and...
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Jul 25, 2014
07/14
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>> 14 caret gold made in new york by two moms. >> made in new york? >> and it is somewhat affordable, considering it is 14 caret gold. it comes in a package with a beautiful linen ribbon. if you are giving it as a , or for a first pairof bearings -- a tiny of hearts and stars are a perfect mother-daughter gift. it is packaged, ready to go. >> you sound excited. you also have a website, kellyrutherford.com. blake lively is doing one, gwyneth paltrow has one. why are you doing this? >> people asked me about what i loved, whether it was fashion, lifestyle, what i was reading. i thought, why not start a website where i can share all of that? that is how it started. >> when you came on set, i said to you, how are you doing? you have had a couple of tough years. you had a fairly public battle for your kids. and it has been financially tough on you as well. >> certainly. >> we wish you well. talk to us about that process. we are a business channel. financially, this is a tough thing. like i think it is tough on a lot of different levels. i think emotionally,
>> 14 caret gold made in new york by two moms. >> made in new york? >> and it is somewhat affordable, considering it is 14 caret gold. it comes in a package with a beautiful linen ribbon. if you are giving it as a , or for a first pairof bearings -- a tiny of hearts and stars are a perfect mother-daughter gift. it is packaged, ready to go. >> you sound excited. you also have a website, kellyrutherford.com. blake lively is doing one, gwyneth paltrow has one. why are you...
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Jul 14, 2014
07/14
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>> from bloomberg world had orders to new york, the fifth -- headquarters in new york, this line."tom billions pays to pay in fines. new york city prepares for the influx of migrant children laughing the border. spiderman swings into u.s. supreme court. to our viewers in the united states and those of you joining around the world, welcome. we have full coverage of the stocks and stories making headlines today. julie hyman examines why individual investors are entering the equity markets. at the airshow. we begin with phil mattingly and citigroup $7 billion agreement to resolve a mortgage securities investigation. good afternoon. just hours away from filing a civil suit against citigroup, the justice department settled for a record fine of $4 billion, double was extracted from jpmorgan chase last year. this is the latest and settlement, part of the series we have seen over the past couple of months. as part of the settlement, citigroup will pay out $500 million for the state attorney general and fdic to address investor claims and add 2.5 billion for consumer relief. that will inclu
>> from bloomberg world had orders to new york, the fifth -- headquarters in new york, this line."tom billions pays to pay in fines. new york city prepares for the influx of migrant children laughing the border. spiderman swings into u.s. supreme court. to our viewers in the united states and those of you joining around the world, welcome. we have full coverage of the stocks and stories making headlines today. julie hyman examines why individual investors are entering the equity...
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Jul 15, 2014
07/14
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stuck in neutral in new york city after a court hearing today. lyft promised not to launch until the laws are checked with the taxi commission. lyft says there is a smear campaign to shut down their business. china central television reported location tracking software in the iphone could lead to the leak of state secrets, but apple says it does not track user locations and does not have any backdoor deals with governments. google is expanding its presence in san francisco as more young tech employees are sticking to work in the city instead of the valley. it has bought a building on the embarcadero and is leasing 250,000 square feet of a tower, a cluster of offices within blocks of each other. the lead story of the day. it will be a little longer before lyft cars with pink mustaches hit the streets of new york city. they said they will launch when the eyes are dotted with the limousine commission. new york state did not issue an injunction for violating state and local laws. they are trying to reach an agreement. here is cory johnson. in new yor
stuck in neutral in new york city after a court hearing today. lyft promised not to launch until the laws are checked with the taxi commission. lyft says there is a smear campaign to shut down their business. china central television reported location tracking software in the iphone could lead to the leak of state secrets, but apple says it does not track user locations and does not have any backdoor deals with governments. google is expanding its presence in san francisco as more young tech...
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Jul 19, 2014
07/14
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., and here with me in new york is bloomberg's own news reporter carolyn chen. what is tax and version? >> it's when a u.s. company acquires a foreign company that's at least 25% of its size and moves its illegal tax address outside the u.s. this usually has two benefits. ours, the u.s. tax rate is 35%, the highest corporate tax rate. second, you get access to oversee -- overseas cash without having to pay to repatriate it, to bring it back home. >> what is the administration's position? >> the administration asked congress to recognize that we need fundamental tax reform. and that is the problem. the u.s. tax code is out of line with its largest competitors. the rates are too high. the worldwide basis to broad. that has been the case for many years and there has been no effort by the white house to change it. what they have argued for is a stopgap measure, one where you would change the test of ownership, where ownership and control actually ride in the united states and they would disallow the tax and version. this is a perverse suggestion because it would for
., and here with me in new york is bloomberg's own news reporter carolyn chen. what is tax and version? >> it's when a u.s. company acquires a foreign company that's at least 25% of its size and moves its illegal tax address outside the u.s. this usually has two benefits. ours, the u.s. tax rate is 35%, the highest corporate tax rate. second, you get access to oversee -- overseas cash without having to pay to repatriate it, to bring it back home. >> what is the administration's...
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Jul 25, 2014
07/14
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officially launching in new york city today. the company will be launching and in the streets of all five new york city boroughs. we will look at what concessions make.had to china, having issues with qualcomm. whether qualcomm can force chinese handset makers to pay up. first, to our lead story of the day, new questions from investors on whether amazon is really primed for future success. willhether the spending ultimately be worth it. shares are getting hammered today after the company posted a $126 million second order loss, its largest since 2012. in addition, there are concerns about amazon cloud computing business amazon web services. google and microsoft started a cloud price for. amazon will start shipping its first smartphone, the fire phone, today. johnsonor at large cory joins us, and aol vice president of products. thanks so much for coming. have you gotten a fire phone yet? >> i'm waiting like everyone else. >> features like seeing things in 3-d. but i'm not a believer. -- >> i'm not a believer. i don't think it wil
officially launching in new york city today. the company will be launching and in the streets of all five new york city boroughs. we will look at what concessions make.had to china, having issues with qualcomm. whether qualcomm can force chinese handset makers to pay up. first, to our lead story of the day, new questions from investors on whether amazon is really primed for future success. willhether the spending ultimately be worth it. shares are getting hammered today after the company posted...
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Jul 31, 2014
07/14
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from the new york stock exchange. you are welcome on my new show anytime. we can talk more in depth about how you are a big fan of yourself being in charge. thank you, john. best line ever -- i am in favor of john legere being in charge of anything. i love that. >> i am sure you feel the same way about stephanie ruhle. >> i was going to say that. i could hear that coming out of your mouth. >> i am not in favor of me organizing bills or driving cars. anything else, it would be good to have me in charge. >> there is john. >> i love that line. i bet he is a good driver. andk so that is john legere emily chang. you do not see this happening too often. investors are reacting with some alarm at a sudden and unexpected rise in medical costs. let's put the question to somebody who knows better -- the ceo himself. he is with us from his office in connecticut. the analyst's and investors appear to be zeroing in on the medical loss ratio. it is like a reverse margin. if you would like to add more detail, by all means. year ago period for your medicare advantage busine
from the new york stock exchange. you are welcome on my new show anytime. we can talk more in depth about how you are a big fan of yourself being in charge. thank you, john. best line ever -- i am in favor of john legere being in charge of anything. i love that. >> i am sure you feel the same way about stephanie ruhle. >> i was going to say that. i could hear that coming out of your mouth. >> i am not in favor of me organizing bills or driving cars. anything else, it would be...
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Jul 30, 2014
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and cory johnson is here visiting us in new york. tom, 15 to 20-- palestinians were killed in a school run by the united nations. takesre saying is really -- tanks fired the shells. whetherfrom israel on they are trying to confirm whether it is one of their shells or from hamas. the worst evil outbreak ever in west africa. the death toll is approaching 700. acres of the national park are in flames. firefighters are trying to stop it before it reaches the giant trees. visits from tourists are being limited. >> post earnings, one big theme for the what -- for the wall street banks is a slowdown in income trading, meaning more cost cuts ahead. jpmorgan saw a 12% revenue cutting i.t. positions. meanwhile, morgan stanley is raising salaries for its associates to improve retention. host, michael holland, is a longtime shareholder of jpmorgan. jason, i want to start with you. the bottom line, working at the big firms is not as attractive as it once was. what is the incentive to keep working there? >> it's still a very good business. markets
and cory johnson is here visiting us in new york. tom, 15 to 20-- palestinians were killed in a school run by the united nations. takesre saying is really -- tanks fired the shells. whetherfrom israel on they are trying to confirm whether it is one of their shells or from hamas. the worst evil outbreak ever in west africa. the death toll is approaching 700. acres of the national park are in flames. firefighters are trying to stop it before it reaches the giant trees. visits from tourists are...
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Jul 26, 2014
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cory johnson is still here and our guest from new york. he has lived and worked in china for almost two decades. gordon, what exactly is happening here? >> you have the national development and reform commission accusing qualcomm of anti-monopolistic position. at the same time, you have chinese handset manufacturers see this enforcement action. they are saying, why do i have to pay qualcomm? it's difficult for the san diego company to sign off anyone to pay royalties. they're all waiting to see how tough beijing will be on the company here. >> this is an enormous development. it suggests the very basic laws of intellectual property that a company like qualcomm that has a majority of its revenue coming from licensed chips, the rate basis of intellectual property isn't going to hold up if china doesn't want it to. >> we have seen since the end of 2009 with a concerted attack on google a real effort to undermine foreign business in china. if qualcomm wants to see what its future will be like in the country, it should look at what happened to
cory johnson is still here and our guest from new york. he has lived and worked in china for almost two decades. gordon, what exactly is happening here? >> you have the national development and reform commission accusing qualcomm of anti-monopolistic position. at the same time, you have chinese handset manufacturers see this enforcement action. they are saying, why do i have to pay qualcomm? it's difficult for the san diego company to sign off anyone to pay royalties. they're all waiting...
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Jul 29, 2014
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sovereign bonds in argentina, not under new york law. so, you can set the parameters and the rules. option.a possible >> you are working overtime tomorrow. what are you looking for? >> i'm looking for nothing tomorrow. they might make some minor adjustments about the state of the economy but they will not do anything. the discussion over these two days is really going to be about the exit shut ag, how do we start raising rates when it is time. >> are you focused on said day? >> the key thing that we're his defenseis expectations being met, normally their predictions, not especially good like the rest of wall street, not particularly good forecasters. reducehey continue to qe, 10 billion a meeting said that by october, november, that done, will they begin to normalize towards the middle of 2015? >> the interesting thing to watch for this fall, it will not come out this time but maybe at the next meeting is that the fed has a statement that says, we will maintain low rates for a qesiderable time after the purchase program ends. well, it wi
sovereign bonds in argentina, not under new york law. so, you can set the parameters and the rules. option.a possible >> you are working overtime tomorrow. what are you looking for? >> i'm looking for nothing tomorrow. they might make some minor adjustments about the state of the economy but they will not do anything. the discussion over these two days is really going to be about the exit shut ag, how do we start raising rates when it is time. >> are you focused on said day?...
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Jul 23, 2014
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suit in the city of new york. but the megan flags are over one of the world true iconic engineering accomplishments. >> let's talk about the bond market because it does not pay to be a superhero in the bond market right now. that is the lead story that lisa brummel with rogue yesterday. she wrote that -- lisa haberman amowitz wrote yesterday. everyone is waiting to make a move. >> where is the incentive to trade? on the one hand, you have bond loads that are pretty close to record lows and trade yields that are getting close to inflation. there is an inherent war going on there. and then you have the central bank leading to this malaise. traders are sitting around going, why should i do anything? >> and the implications could be far-reaching because if and when there is a problem, some kind of event command people do rush for the exit, that could create a backlog of people trying to get out of securities. but there is the risk that there could be jamming at the exit. there is also a risk that even a single amount
suit in the city of new york. but the megan flags are over one of the world true iconic engineering accomplishments. >> let's talk about the bond market because it does not pay to be a superhero in the bond market right now. that is the lead story that lisa brummel with rogue yesterday. she wrote that -- lisa haberman amowitz wrote yesterday. everyone is waiting to make a move. >> where is the incentive to trade? on the one hand, you have bond loads that are pretty close to record...
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Jul 16, 2014
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especially mid-list authors in new york. amazon has this remarkable marketing department, they are very savvy and that is what you want as an author. you want to spend your time writing books. they tell me i went you to spend your time writing books. i was able to -- i am sorry. >> give me the numbers. tell me the difference --
especially mid-list authors in new york. amazon has this remarkable marketing department, they are very savvy and that is what you want as an author. you want to spend your time writing books. they tell me i went you to spend your time writing books. i was able to -- i am sorry. >> give me the numbers. tell me the difference --
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Jul 28, 2014
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>> live from bloomberg headquarters in new york, this is "market makers." with erik schatzker and stephanie ruhle. >> flying high, the u.s. airlines partly owned by billionaire richard branson is going public. virgin america files for an ipo. up inew york times" goes smoke. it is time for congress to legalize marijuana, it says. the prince of porn. larry flynt talks about his legacy. to theustler" magazine landmark supreme court decision. erik schatzker is off this week. ornween the prince of p and legalizing marijuana, who better to have as a partner than tom keene? >> you are so twisted. [laughter] >i don't know how to type. i'm doing typing. i want to type like adam johnson. >> one of the most beautiful weakens of the summer. the first weather ever. you did typing this weekend? >> just a little bit. gin and tonic typing. >> you have to get your typing game on. >> my bowtie is set for radio. m$a dayand mende day -- -- m&a day. >> zillow has agreed to buy trulia. they are the two most visited property sites in the u.s. i use them all the time. there was al
>> live from bloomberg headquarters in new york, this is "market makers." with erik schatzker and stephanie ruhle. >> flying high, the u.s. airlines partly owned by billionaire richard branson is going public. virgin america files for an ipo. up inew york times" goes smoke. it is time for congress to legalize marijuana, it says. the prince of porn. larry flynt talks about his legacy. to theustler" magazine landmark supreme court decision. erik schatzker is off...
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Jul 29, 2014
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>> i wanted to have a show in new york for quite some time. different opportunities and when the whitney came to me with the space -- >> the entire museum. >> which is fantastic. i have been working for many decades and i think we are showing about 35 years worth of work. and i have worked on different scales, but it was a chance to really bring everything together. europe,hown a lot in france, germany. i am kind of on the ground as an artist. i worked very closely with scott rothko. we worked very closely for five years. easy to put your stuff out because of size and weight and delicacy. an unique technology and a bunch of other things. >> the whitney was fantastic to work with. they never said no. i would like to show this work, they never said we can't do that. there is a problem with the budget or having that expense. >> how many months before they were installed? >> some of them days. a it is not just retrospective. an up-to-date retrospective. >> we just finished that. >> we probably finished that inside the museum. it is kind of natural
>> i wanted to have a show in new york for quite some time. different opportunities and when the whitney came to me with the space -- >> the entire museum. >> which is fantastic. i have been working for many decades and i think we are showing about 35 years worth of work. and i have worked on different scales, but it was a chance to really bring everything together. europe,hown a lot in france, germany. i am kind of on the ground as an artist. i worked very closely with scott...
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Jul 23, 2014
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york fed there in new york. it also said the company had not made much progress toward the plan. this comes on the heels of deutsche bank in january -- and that date is important -- saying they are committed to revamping their program and hiring more people, having a new policy in place. that was in january. the initial letter is december. one question we are asking today tom a wide this letter come out are-- one question we asking today, why did this come out now? let's just put -- it out there that the latter likely came out from the new york fed side. it's a december letter and now we are here in july, seven months later. why might they have done that? it could be because they did not see the type of progress they wanted to see from the bank when they sent that letter initially. the new york fed has a couple of options. they can send a private letter. they can announce remedial action, punishment. they can ask a bank to restate its earnings. if they go to that level, going back and redoing the books, that is
york fed there in new york. it also said the company had not made much progress toward the plan. this comes on the heels of deutsche bank in january -- and that date is important -- saying they are committed to revamping their program and hiring more people, having a new policy in place. that was in january. the initial letter is december. one question we are asking today tom a wide this letter come out are-- one question we asking today, why did this come out now? let's just put -- it out...
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Jul 6, 2014
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i am passionate about new york. i think that at some point in my life, i could be helpful in the political arena. i do not know when that would be. i do not know what position that would be. people say mayor to me. people say i might run for office one day. who knows? >> you are open. >> i'm open, sure. >> you're not worried about a skeleton or two in the closet? >> i'm going to put the skeletons on the table day one. i don't care about that. let me tell you something, one thing that we all have in common -- >> skeletons? >> not only do we have skeletons, we are used to being hit on in the press. at this point, we are numb to it. >> everything anybody needs to know about bobby flay is already out there? >> totally. absolutely. why? do you have something i don't know? if you have something to make me more interesting, bring it out. >> tell us about the restaurant. >> i had a spanish restaurant for 15 years called bolo. it closed about five years ago. they knocked the building down when my lease was up. i'm going to o
i am passionate about new york. i think that at some point in my life, i could be helpful in the political arena. i do not know when that would be. i do not know what position that would be. people say mayor to me. people say i might run for office one day. who knows? >> you are open. >> i'm open, sure. >> you're not worried about a skeleton or two in the closet? >> i'm going to put the skeletons on the table day one. i don't care about that. let me tell you something,...
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Jul 11, 2014
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the weather will be fine in new york city. you on monday we are heading across the atlantic to the air show in britain, talking to the ceo of one of the world's most fastest-growing airlines. goodbye to to say everybody and note it is 56 minutes past the hour. here is markets correspondent matt miller. >> let's take a look on this friday at how we are shaping up to end the week in equities during did not look like a good week so far. this morning without we might bounce back a little bit, but it does not look like we are bouncing back that much at all. dow jones industrial average and s&p 500 still down a little bit. the nasdaq recovering a little bit from its losses yesterday. let's focus in on options today, following the week that saw the start of earnings season. whate going to dial in this means, what the fed means about inflation, what concerns about the health of your financial system mean, and what the action in the middle east means for options. we are going to take a look at the markets, where they may be headed. tra
the weather will be fine in new york city. you on monday we are heading across the atlantic to the air show in britain, talking to the ceo of one of the world's most fastest-growing airlines. goodbye to to say everybody and note it is 56 minutes past the hour. here is markets correspondent matt miller. >> let's take a look on this friday at how we are shaping up to end the week in equities during did not look like a good week so far. this morning without we might bounce back a little bit,...
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Jul 1, 2014
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>> i would be very surprised if we see any sovereign to have been issuing it and new york under new york law, choose to issue exclusively under english law. it's not clear an english court in the same situation would not have ruled in a similar way. that sold bonds from the 1990's which had extremely creditor-favorable terms in which they waved to the maximum possible degree there sovereign immunity, and which they wrote the strongest claws into their bonds. not all countries do that. i don't see any fallout on the issue. >> we have to leave it there. thank you so much, gentlemen. forng up, is now legal towns in new york to say no fracking allowed. we will see with this means for the oil and natural gas industry. ♪ >> time now for some bloomberg west top tech and media headlines -- another management change at twitter -- anthony noto will be the new ceo. the new -- the cfo will now oversee investment. a group of russian hackers known as energetic bear is a threat to the global energy industry according to symantec. they say the group is targeting pipeline operators. the company says th
>> i would be very surprised if we see any sovereign to have been issuing it and new york under new york law, choose to issue exclusively under english law. it's not clear an english court in the same situation would not have ruled in a similar way. that sold bonds from the 1990's which had extremely creditor-favorable terms in which they waved to the maximum possible degree there sovereign immunity, and which they wrote the strongest claws into their bonds. not all countries do that. i...
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Jul 21, 2014
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not just in new york, but everywhere across the nation. here tone wilder is tell us why infrastructure is so critical if we want to remain competitive. lay out your case. >> a good example is what you just mentioned in terms of access to the airport. in the rest of the world, global cities almost inevitably have a fast train to the airport. in new york, where the fast rail was originally developed at lockheed martin on long island, we do not have one. we are far away from getting one. we really have a disadvantage when it comes to maintaining our position as number one in the global economy. >> joe biden called laguardia a third world airport. >> do you agree with that? >> we can't. we have a major investment to upgrade it. we need the federal government to take leadership on upgrading. we have a 1960's radar traffic control system. developed world is using satellite systems that are far more efficient. this is a $22 billion investment nationwide. it could be shared between the airlines and the private sector and the public sector. we need
not just in new york, but everywhere across the nation. here tone wilder is tell us why infrastructure is so critical if we want to remain competitive. lay out your case. >> a good example is what you just mentioned in terms of access to the airport. in the rest of the world, global cities almost inevitably have a fast train to the airport. in new york, where the fast rail was originally developed at lockheed martin on long island, we do not have one. we are far away from getting one. we...
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Jul 16, 2014
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joining us from new york is bloomberg's matt miller. you have interviewed alan mulally many times over the years. did he give you any hints about this? >> he did not. i spent the morning e-mailing back and forth with him seeing what he's up to, how he's doing thinking he would drop me a clue on the future, but he just said he was hanging out, finishing his social security benefits and practicing his tennis game, not really telling me anything about google. that's about what i would expect from him. he's not a fan of cronyism and he will not give anyone any favors. just because we are great friends he does not give me the inside scoop. it does not surprise me he's gone to google to be a board member there. it seems ford, the way alan mulally sees it, and google, have more in common than one would think at first glance. >> is this a google putting even more chips on self driving cars? >> i don't know. first of all, there is not a company in the world that would not want alan mulally on their board. he is a singularly impressive guy. >> ta
joining us from new york is bloomberg's matt miller. you have interviewed alan mulally many times over the years. did he give you any hints about this? >> he did not. i spent the morning e-mailing back and forth with him seeing what he's up to, how he's doing thinking he would drop me a clue on the future, but he just said he was hanging out, finishing his social security benefits and practicing his tennis game, not really telling me anything about google. that's about what i would expect...
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Jul 21, 2014
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in new york, s&p capital iq senior analyst. what stands out to you most? >> i think what stands out to me is really the results speak to the potentially sizable, addressable market for netflix. about 50 million subscribers worldwide, you talk about that. what is really striking is the international front where you're talking about 700 million brough broadband subscribers worldwide. i think the attraction the company is generating, firing on all cylinders, domestic expansion, margins, growth, original programming. you can go down the list and i think the results speak to the great momentum which the company is generating. >> there has been a lot of focus on the original shows. jon, i know you will then take a look at which of these shows has brought in more new subscribers. what are you singing? seeing? that doingly believe these original shows is a great way to get more people to sign up for the service. they claim in this case of orange is the new black, that is helping them in a big way to generate higher subscriber numbers. they have argued it has that
in new york, s&p capital iq senior analyst. what stands out to you most? >> i think what stands out to me is really the results speak to the potentially sizable, addressable market for netflix. about 50 million subscribers worldwide, you talk about that. what is really striking is the international front where you're talking about 700 million brough broadband subscribers worldwide. i think the attraction the company is generating, firing on all cylinders, domestic expansion, margins,...
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Jul 1, 2014
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of new york district attorney discusses the settlement. also twitter names former goldman sachs banker anthony noto as cfo. and general motors surprises investors with a june sales gain. to our viewers in the united states and those of you joining us from around the world, welcome. he have full coverage of the stocks and stories making headlines today. headlines the debt crisis negotiations in argentina. megan hughes has an obamacare report card. and jon erlichman has details on twitter's new chief financial officer. those stories are coming up. in a moment, the fallout of the -- ofra boston a month the bmp settlement. joining me in studio is manhattan district attorney cyrus vance junior. welcome back to bottom line. bnp posted its biggest advance in a year. the bank also said the 9 billion dollar fine won't force it to reduce its dividend or derail growth plans. if the size of the fine wasn't enough to punish them, what was the point? >> the size of the fine was enormous. to what they are sending out to shareholders in the markets. the $
of new york district attorney discusses the settlement. also twitter names former goldman sachs banker anthony noto as cfo. and general motors surprises investors with a june sales gain. to our viewers in the united states and those of you joining us from around the world, welcome. he have full coverage of the stocks and stories making headlines today. headlines the debt crisis negotiations in argentina. megan hughes has an obamacare report card. and jon erlichman has details on twitter's new...
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Jul 30, 2014
07/14
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government, before a magistrate, goes to federal court in new york. but it was really determined based on where the warrant came from rather than something else. >> earlier this year microsoft readingt of heat for e-mails from a hotmail account in order to track down a microsoft employee accused of corporate spying. i know that you changed your terms of service after that, but we have been talking about the relationship between the nsa and the government and technology companies. how can you be sure you are not going to snoop in our e-mails, that there is not a double standard? >> the first thing we need to do is be visible. -- principled. i think you are seeing this and other tech companies as well. the first principle is that people sex messages, their instant messages, their voice conversations, their e-mails text messages, their p's instant messages, their voice conversations, their e-mails are all entitled to protection. people will only use technology if they trusted. let's ensure that we are creating processes that are worthy of that trust. whe
government, before a magistrate, goes to federal court in new york. but it was really determined based on where the warrant came from rather than something else. >> earlier this year microsoft readingt of heat for e-mails from a hotmail account in order to track down a microsoft employee accused of corporate spying. i know that you changed your terms of service after that, but we have been talking about the relationship between the nsa and the government and technology companies. how can...
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Jul 20, 2014
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new york is great. everybody loves new york. but, we need to compete, we need to improve. there was a lot that was not improving. there are more than 2 million puerto ricans who want their politicians to work for puerto rico to improve. >> there are some that argue that john paulson has an advantage. that he has politicians in his back pocket. he is getting looks on deals that no one else has. >> they will have the same -- >> but they already live here. puerto ricans are saying that they want to have the government believe in them. >> john paulson saved the game for that and he loves the puerto ricans. there is investment getting to shore because they have this investor that came here. we need to share wealth, not poverty. we need to create wealth, to have wealth to share. the other ways to share property. i'm not here to share poverty, i am here to share wealth. >> do you have concern that maybe of development is happening in terms of luxury real estate? are there that many hedge fund millionaires that will move here? >> at the same time we're doing that, we are doing a l
new york is great. everybody loves new york. but, we need to compete, we need to improve. there was a lot that was not improving. there are more than 2 million puerto ricans who want their politicians to work for puerto rico to improve. >> there are some that argue that john paulson has an advantage. that he has politicians in his back pocket. he is getting looks on deals that no one else has. >> they will have the same -- >> but they already live here. puerto ricans are...
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Jul 8, 2014
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that is really the headline for anyone in new york, cooper a price war with new york city cabs. >> this is "bloomberg surveillance." i am scarlet fu here with tom keene and adam johnson. let's get to company news. we start with the shutdown of the federal lending agency that could force boeing to scramble for financing. firmsnk helps oversee that finance major purchases. boeing would had to double its financial backing to airlines and leasing companies if lawmakers do close the bank. petsmart is now being pressured -- to consider a sale. petsmart says it is looking for ways to return more cash to shareholders. crumbs cupcake chain shutting all of its stores. the comedy was delisted by the nasdaq last week. the crumbs has 65 locations. the company says it will file for chapter seven bankruptcy the quotation. no word on how many workers are affected, but they were taken by surprise. that is this morning's company news. -- areinsight here was these the two biggest cupcakes? >> they are like four dollar cupcakes. the ones that big of a cupcake? >> who once a cupcake at all? i am sorry. >> e
that is really the headline for anyone in new york, cooper a price war with new york city cabs. >> this is "bloomberg surveillance." i am scarlet fu here with tom keene and adam johnson. let's get to company news. we start with the shutdown of the federal lending agency that could force boeing to scramble for financing. firmsnk helps oversee that finance major purchases. boeing would had to double its financial backing to airlines and leasing companies if lawmakers do close the...
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Jul 2, 2014
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>> from bloomberg world headquarters in new york, i am mark crumpton and this is "bottom line." today, a government panel calls for revisions to the u.s. spy program. then iran nuclear talks in vienna reach an impasse. plus a look at the latest in technology innovation. the curved television. to our viewers here in the united states and those of you joining us from around the world, welcome, we have full coverage of the stocks and stories making headlines today. jon erlichman details efforts to get kids to watch sports on new media platforms. indira lakshmanan reports on the nuclear power talks in vienna. we begin with peter cook and a new review of a controversial u.s. surveillance program first leak by edward snowden. what does the reports say? >> of this report from the privacy and civil liberties board, a group appointed by the president and confirmed by congress may give reassurance to americans that the government is not reading all of their e-mails and it could provide political cover for tech companies accused of offering up too much of their customers in from -- informa
>> from bloomberg world headquarters in new york, i am mark crumpton and this is "bottom line." today, a government panel calls for revisions to the u.s. spy program. then iran nuclear talks in vienna reach an impasse. plus a look at the latest in technology innovation. the curved television. to our viewers here in the united states and those of you joining us from around the world, welcome, we have full coverage of the stocks and stories making headlines today. jon erlichman...
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Jul 29, 2014
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cory johnson joins me in new york. i want to talk about the fact that they found out we are all very shallow when it comes to dating. >> for those of us who day, perhaps. there is an interesting story. they look at customer profiles and they change things to see what would happen. in some cases, they changed text from profiles or removed the profile. they would take 30% compatibility store -- score and change it to 90 to get people to use the service more. they would send more messages and receive more messages at 90. users are up in arms. a lot of people are up in arms about this. the notion that the customer is thehe personal stuff stuff that okcupid was messing with. arms thee users up in way facebook users were? >> the cofounder says he has only received two complaints. much more interesting is when company say they are getting closer to the customer, they are going to use social media to have a closer customer experience, fundamentally, companies will bump into this. >> you have all the state out there and they wa
cory johnson joins me in new york. i want to talk about the fact that they found out we are all very shallow when it comes to dating. >> for those of us who day, perhaps. there is an interesting story. they look at customer profiles and they change things to see what would happen. in some cases, they changed text from profiles or removed the profile. they would take 30% compatibility store -- score and change it to 90 to get people to use the service more. they would send more messages...
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Jul 11, 2014
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york and inside new york but in a more iconic location. >> iconic location. what does that mean? you know, looking downtown in the world trade center area which is going to become something significant and i definitely want to be part of i am a new yorker attitude. so definitely there. and a store on 34th street. you might know about a store that is famous on 34th street . i am moving into an upscale quick service model. upscale, quick service. why is that the future? people don't have time? >> yes. it is a busy society and economy. very big.ity is people of the lower economic scale want to eat and they want good food. look at the success of chipotle. fresh, fast food. that is one example. with also have sued due what you are doing with home shopping network. can you tie that together with books, this ise an empire. building a lifestyle brand. last time i was singled, i am now married and a mother. and you havenges to make it to deb and i saw the trends of the restaurants. i have been doing restaurants 15 years. to age myself. i started when i was 12. i was a
york and inside new york but in a more iconic location. >> iconic location. what does that mean? you know, looking downtown in the world trade center area which is going to become something significant and i definitely want to be part of i am a new yorker attitude. so definitely there. and a store on 34th street. you might know about a store that is famous on 34th street . i am moving into an upscale quick service model. upscale, quick service. why is that the future? people don't have...
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Jul 8, 2014
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but it does not happen on the new york side. if you were writing a book and you had that happen, you would -- >> that is too much of a perfect weather. >> that is not real. time, as they are retreating, what was the mood of washington? >> dolorous. one of abject discouragement. he was exhausted. he had not slept for three nights or more. they all were exhausted. -- i am sure he realized that he played his hand wrong, that he misjudged the whole situation. he never covered what was called the jamaica pass. there is a pass through the roof ridge that runs along long island. they had nobody posted there to stop the british. the british sent 10,000 men on a nine mile march through the night, and around, and they completely outflanked us. militaryperfect maneuver, perfectly performed by the british, just as they are landing on long island. everything was done just right. if general howe had attacked that bridge -- he had them on the run and they were retreating back to the fortifications of brooklyn heights. he could have ended -- >>
but it does not happen on the new york side. if you were writing a book and you had that happen, you would -- >> that is too much of a perfect weather. >> that is not real. time, as they are retreating, what was the mood of washington? >> dolorous. one of abject discouragement. he was exhausted. he had not slept for three nights or more. they all were exhausted. -- i am sure he realized that he played his hand wrong, that he misjudged the whole situation. he never covered what...
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Jul 15, 2014
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ruhle. >> it is tuesday in new york city. the action is in washington. i am erik schatzker. >> i'm stephanie ruhle. it is janet yellen day on capitol hill. giving herir semiannual testimony on monetary policy to the senate banking committee. the hearing is scheduled to start in a few moments. we will get the headlines from her per pair testimony any moment. >> but between now and then, let's have a conversation about monetary policy and what we are likely to hear from the fed chair. our chief market strategist at jefferies is here. and michael mckee is here. we are going to get these headlines. mike, tell us what signals you have been getting about the posture that janet yellen is likely to strike. >> we talked to three fed bank presidents last week. the said the song remains same, the message will be consistent that the economy still needs stimulus. there is too much slack in labor markets, inflation is to low. expect the fed to stay on hold for quite some time after they finish tapering, which they told us would be october.
ruhle. >> it is tuesday in new york city. the action is in washington. i am erik schatzker. >> i'm stephanie ruhle. it is janet yellen day on capitol hill. giving herir semiannual testimony on monetary policy to the senate banking committee. the hearing is scheduled to start in a few moments. we will get the headlines from her per pair testimony any moment. >> but between now and then, let's have a conversation about monetary policy and what we are likely to hear from the fed...