emily: cory johnson giving us a round up from downtown san francisco. thank you so much for giving us the scoop. i want to head to another huge story we are watching. announcedr microsoft the $26.2 billion acquisition of linkedin, goldman sachs was

david: cory johnson outside the worldwide developers conference. think you very much. the markets close in less than two hours and stocks are near session lows. ramy inocencio has a look at the latest. ramy: we are seeing this downward trajectory throughout the course of the day. this is a snapshot with the dow and s&p off on the order of about .5%. ofare looking at a lot headwinds this week and next week with the fed. the june meeting and the bank of japan also meeting to talk about rates and the brexit is definitely on the mind of traders. let's look at my bloomberg and i want to show you what's happening on the s&p. creep up across the board. utilities are only marginally up higher. information technology continues to be the biggest laggard, down about .8%. energy had been higher but losing ground, down by .1%. to stick with energy because in terms of morgan stanley, upgrading u.s. toloration and production attractive and boosting brent oil to $80 a barrel from $60 and barrel, so people going long on oil should be interested in that news. looking at nymex crude, it

david: thank you, cory johnson. an amazing report on bloomberg today, microsoft pairing up with linkedin. a great story on the terminal. thanks to cory johnson. you can see more on "bloomberg west." david: we are watching stocks parent losses. can they come back and close in the green? ♪ .. it's a p.m. in london and 3:00 a.m. in hong kong. >> welcome to bloomberg markets. ♪ >> from bloomberg's world .eadquarters, i am david gura funny bank and i'm vonnie quinn. : and i am vonnie quinn. the biggest u.s. airlines got burned on oil prices. they missed their chance to lock in the cheapest energy costs in years. david: regaining control of viacom. who is running the company? vonnie: we are one hour to the close of trading. >> we're talking about the s&p of 1%.t losing down 2/10 the worst performer has seen the nasdaq 8/10

cory johnson joins us from san francisco with more. is lyft likely to steal more business from uber? cory: both companies are gaining market share away from taxis. are more people going to just services period? came into the san francisco market at launch, it not only won most of the market, there are more black cars driving in texas is go -- in san when uberthan started. the right sharing business is growing with uber and lyft coming into the market. raised moneyust from saudi arabia -- quite unusual pair. --y: this is the rise it $3.5 billion, the largest fundraising for a private company ever. it shows you how excited some investors are. in uber some the service is very uberar -- in saudi arabia, is very popular with women who were not allowed to drive. shery: in china, competition is fierce. cory: uber is the number two player. it is a big coming future market, there are a lot of people on the roads there. is seen as a platform for a lot of other goods and services, whether it is delivery of food or even kittens on these we are day

emily: cory johnson giving us a round up from downtown san francisco. thank you so much for giving us the scoop. i want to head to another huge story we are watching. announcedr microsoft the $26.2 billion acquisition of linkedin, goldman sachs was advising another possible bidder. i want to bring in alex sherman, who has been a scoop machine today. who else was looking to buy linkedin? >> we are still trying to figure that out. there can only be a handful of companies that have the resources and willingness to take on linkedin. just off the top of my head, pu re speculation, you could see google being interested, facebook. after that, the list gets a little dicey. could there have been overseas interest? i suppose, but it is a big check to write for regulatory issues. we will try to do our best to break whatever company this was working with goldman. we do not know if that company is still interested in buying linkedin or if they moved on or how close they got. all that information will be in the proxy filing when that comes out in a week or so. emily:

♪ >> i am cory johnson in for emily chang and this is the best of bloomberg west. coming up, ridesharing startups are duking it out over cooper announcing a three and a half billion dollar injection from the saudi find, and we will catch up with lyft's chief business officer. we will take you through mary meeker's predictions of the future of the internet. isest monfils tell us why he spending big on tech. first, $9 billion and that is just the start. billion has been invested in the ridesharing industry since 2015. there is more to come. big rival and chinese says it is closer to closing a bigger around. out, they are duking it the face-off between uber and lyft. corporate customers. more recently with an endorsement from apple we caught up with the lyft chief executive officer. long had a very consumer friendly reputation. it invented the p a two. model. desk. two. model. -- peer to peer market. i think they are saying, we can grow here. >> what is the appeal of the business market for lyft that seems to have a consumer focus? >> it is a huge market, first of all

cory johnson, our editor at large, thank you very much for that deep dive as well. another story we're watching, well marked hoping to -- walmart hoping to reshape its business in china. these companies will link up their supply chain. walmart has struggled in china. walmart's ceo has stressed that the company needs to succeed in china, where it has thought -- is thought 25% of the worlds retail growth will come in the next five years. we officially have a 13th exchange in the u.s. ahead of the investors exchange. next, taking on the nasdaq and the new york stock exchange. ♪ emily: after months of delays, the ies group have gained approval to be the 13th u.s. stock exchange. you remember -- the newly minted investors exchange hopes to steal a significant chunk of business from its newfound competitors, the nyse, the nasdaq, and -- earlier, we spoke exclusively with the ceo of iex and asked why he applied become an exchange in the first place. >> part of it is scale. there are limits to how big dark pools can grow. we no longer have a limit to how large we can grow

i am cory johnson. energy ministers from 26 countries met in san francisco this week to try to achieve the goals from the paris climate conference. we caught up with the u.s. energy secretary right after thursday's of tech meeting -- opec meeting and discuss the future of growth and renewables. >> so far in the united states and globally, even as oil prices have come down we still see the substantial growth of renewables and also very importantly, the growth of efficiency so that demand growth has been tapped somewhat. we just had a presentation by bloomberg new energy finance that enforced those points. in the united states as well, besides oil prices we very low natural gas prices. those have impacted principally coal and nuclear while we see for example, our solar deployment is up by a factor of more than 20 in the last six years. we see robust growth continuing with the renewables and with efficiency as lead drivers in our clean energy evolution. >> thank you for the shout out to our bloomberg new e

cory johnson, thanks so much. coming up, the european union is clamping down. we will dig into the renewed regulatory battle the e.u. is waging against google. later, how brexit is sitting tech stocks in asia as aftershocks of the vote ripple around the world. ♪ emily: now to our interview with the advertising giant. he has built a powerhouse that employs 194,000 people in 112 countries. david westin and alix steel caught up with the c.o.o. who was outspoken in his support for the u.k. to remain in the e.u. they asked what went wrong with the campaign. take a listen. >> there were three issues. the first was the economy. the second was sovereignty. the third was immigration. force johnson is saying sovereignty was the key issue, not immigration. the governmental "remain campaign" focused almost totally on the economy and left the question of sovereignty on the table and lastly immigration which is a very emotional issue. the other area they forgot about is this was not a general election. this was a referendum. if you look at some of the vox pop stuff, middle

andy: that was mark cuban cory johnson. we will renew more ahead. what he thinks of donald and hillary clinton. the billion dollar -- multibillion dollar buyout of china's second are just search engine is running behind schedule. the buyout could now close in september. they have agreed to a request from the gutters to transfer the eye out funds offshore in batches. people close to the deal say there are $2 billion left to transfer. short -- the stock has nosedived 36% wiping out nearly $16 billion in market value. with sales quote -- growth flagging their ditching the stock amid fears the company has passed profitability is looking uncertain. the cofounder who is looking to win millennials back into movie theaters. and new tools to help you search and buy things. later this hour. this is bloomberg. ♪ mi: after two months of turmoil lending club has a new ceo. been acting chief. surprisee the resignation. the company said it would cut nearly 200 jobs. lending club stock has been in the tales in -- a tailspin. that stoneridge asset management plans

david: cory johnson joins us. let's start with what india announced today. what rules changed? hot and fast, requiring 30% of their components to be manufactured in india. the company is going to get some leeway. they will see three years as much as five years of the way to achieve that goal for the component manufacturing. therefore, if apple sets forth a plan to manufacture in india, they can start selling their now with the goal, of course, getting to that 30% being manufactured in india. what that means is they can grow a lot faster if they choose to do so. plus, they have to reapply and start the process over again. vonnie: why is it a big deal for apple to do that? sure, there is a one-time expenditure. apple is getting a deal for its 30% of manufacturing components. the manufacturer of apple products is one of the great accomplishments of the company over the course of 15 or 20 years even. they have not had think inventory problems. companynever seen a like this, managing the supply chain so well, and this has allowed them to go to the places to manufacture at the cheape

and coming up on bloomberg west, cory johnson, the great cory johnson speaks with the ceoof box. we will see you tomorrow. until then, sayonara. ♪ ♪ rishaad: it is friday. it is the third of june. i am rishaad salamat. and you're watching "trending business". ♪ live in singapore and tokyo this hour. brent arising above $50 for the first time since november. price acceptable in the first half of next year. interested in the fe

cory johnson, liam denning, thank you so much. coming up, the ipo market gets a test after a very slow start to 2016. we will break down twilio and why the company is choosing to go public now. ♪ emily: the lackluster check mark for 2015 is getting its first ipo. twilio, the communications software provider, is pricing of ipo as investors it on this guidelines in an uncertain market. the announcement makes the san francisco-based company just the sixth tech company to go public in 2016. compare that to the 24 companies that went public by time last year. does it signal the end of the ipo drought? joining us from the university of florida is jay ritter. what a day to go public, the same day as the referendum and u.k. that could have wide-ranging implications on the market. what do you make of twilio's decision to do this now? guest: i think they are counting on the fact that the tech market and being based in san francisco is going to be shrugging off what happens in london. emily: this will be the first silicon valley, silicon v

cory johnson: are you concerned with the tone? mark cuban: it is scary. hate never accomplishes anything. i think that is the fundamental problem. hate does not solve problems. notoes not suit -- it does improve the economy. it does not protect our people or the borders. we are got to be very careful about the verbiage we use. there is no win there. that was mark cuban speaking to cory johnson in los angeles earlier today. back, more of our special coverage of the aftermath of the brexit. there is news the bank of japan may be talking with the japanese government about the financial markets. we will keep you up-to-date on u.s. futures. they have opened for trade as have stocks in new zealand. we will bring you the investment giants fidelity's view in the wake of brexit. stay tuned. ♪ to ourelcome back special coverage. i am erik schatzker here in new york city. our job right now is to help you understand what to expect from financial markets. for economic growth around the world. to help us do that, we are speaking with the director of global investment

cory johnson is standing by with a preview. what are we expecting herg to hear from the guys at apple? there are some corollaries. the biget's talk about picture. this is a conference where you have a couple of thousand of developers coming from all over the world to san francisco and they want to hear what the roadmap will be for the future so they can invent the next , angry birds,uber or whatever. but we think they will focus on are two things. a wider expanded siri, of course, already working in the ipad. .erhaps a new and improved siri the second thing is a different methodology by which apple is paid and developers are getting paid from the app store. likely to be new ways that such christians are dealt with. rather than a one-time payment with 30% off for an app, now, 30% when it was first sold -- with major league baseball, where people pay $30 per year, apple only takes 15% per year. stock downh apple for the year and more investors talking marketing out of the company is there certain degree of import on today's event

for more details, i want to bring in our editor-at-large, cory johnson. cory: they want to cover everything from the creation of energy to exxon mobil, maybe. this is a strange thing. musk is investing in one company to bailout another company that has fallen substantially in the last year. just a look at the numbers shows how crazy this is. if you look at the cash tesla has on hand and throw in the debt, you have a company that cannot afford solar city. tesla has $3.2 billion in debt. if you look at the cash and debt, solar city is $5.8 billion in enterprise value. tesla has $1.4 billion in cash++ and has to build more factories to build the amount of cars it needs. now, they have to somehow raise more money to acquire a company that's in a very different business. installing rooftop solar is a very different business than manufacturing cars. installing rooftop solar is a very different business than manufacturing cars. to try to do both at once is very difficult. emily: tesla is not just manufacturing cars anymore. they are making batteries. on the call

cory johnson walked us through that. pg&e,if ford is buying or exxon mobil may be, this is a very strange thing. yes there is a commonality in terms of clean energy and more portly yunnan must is one --pany that can bailout and elon musk is another company that can they another, but showing us how crazy this is. if you look at how much cash tesla has and you have a company that cannot afford solar city. tesla has $1.4 million in cash. $2 billion in debt. you look at the cash. valium,ook at the total 1.4 billionne billion dollars dollars and they can somehow acquire more money? emily: they are making batteries. this is something we have been debating and thinking about for a year and a timing seemed right. doesn't make more sense? john: most people don't have use for it. the principal uses the fact and is coming at a plant in nevada. the notion they are in the power supply business is ambitious but at the carmaker. shares of plummeting. on sure they will say wait a minute, there is great potential but they lose money mayb

cory johnson joins us from san francisco. you spoke with the viastat ceo. what did he have to say about this deal? cory: it is a huge deal for viastat. also a huge deal for gogo because they are losing their business with american airlines. they could be pulled from a number of american airlines planes. the contract was split. american airlines is about to bring a lot of new planes onto the market. the announced the wi-fi contract would be split. all new planes would get viastat wi-fi service. from arvice coming satellite, delivering a lot of bandwidth to every seat. unlike terrestrial service offered by gogo. most of their flights are powered by data that comes from the earth instead of from the satellite. the user experience has been painful for gogo users, so american deciding to go a new direction for their new planes. ceo of viastat had to say. an important step in terms of how wi-fi will be presented in the air for the industry. american has made a statement that they want to improve and have the best wi-fi in the sky. this is a good step towards that

cory johnson joining us live. breaking news from the ecb. this is a purchase program that began on june 8. 248 million euros. corporateine, ecb bond holdings totaling 328 million euros as of june 10. at saw estimates 240. >> analysts have it anywhere between 5 billion through 10 billion euros per month. around five is considered the consensus right now. it is really gauging where we are month from month to month. scarcity ofis a corporate bonds, that is a whole other problem. >> let's turn back to apple. stephen milunovich joins us from their office. target of $115, you have a buy rating but you also say it is range bound. is there anything that could happen in this conference that would break it out of this range? think it is pretty unlikely. this is focused on developers whereas the september announcement is focused on more products. of the mostone interesting things that could come out of it is what they do with siri. more is a machine learning that is going on between microsoft, facebook, ibm and apple. is perceived as somewhat behind. w

thanks.all right, let's bring in cory johnson live from san francisco outside apple's worldwide developer conference. the valuation -- 91 times earnings? a $26 billion company. does linkedin merit that price? cory: you know, i'm not a big numbers -- on a trailing basis, yeah, super expensive. the company is very much on an inflection point toward actual profitability. i think it is actually valuable to look at forward projections and see if you look at next , if it isjections under 30 time statute is not an insane valuation for this company. what areion is not they paying, but where they getting for that big cost? you have to look at what linkedin as a company is and how that would fold into what microsoft is already doing? vonnie: right, i was chatting with woody benson earlier and he said it has more tentacles than an octopus. to linkedin, it's not just people linking up their resumes. cory: yeah, i think when you think about it in terms of microsoft -- microsoft, next to amazon, has the biggest operation of cloud infrastructure in the world. they have tons of data centers operating at

cory: i'm cory johnson in for emily chang. half billion dollar injection into the saudi sovereign wealth fund -- the biggest injection ever. but this -- does this change the ride hailing company for real. and we will take you through mary meeker's predictions for internet trends 2016. mark zuckerberg holds a live q&a from space. we will tell you how to nasa achieved stratospheric success in social media. turned to the middle east for its biggest investment ever, the company announcing a 3.5 ilion dollar raise as part of their most recent funding round, keeping the valuation at $62.5 billion. the saudi wealth fund managing director will take a seat on the board as part of the deal. is shocking. are these guys on a permanent fund-raising scheme here? they just keep raising money and keep raising money. guest: it certainly feels like that. is 11balance sheet billion dollars -- $9.5 billion cash on hand. they are flush with money from the private art gets, raising from everyone under the sun from google to tbg and now we have thes

cory johnson joins us from san francisco. seems to me like a lot of the company salesforce has acquired is outside what the company has been known for. why is this a good fit? cory: we will see if it is a good fit. you see salesforce looking at the verticals around it. a lot of companies have sprung to otherne public services focused on medicine, drugs and e-commerce. was specializing in helping retailers do all the things they are doing on the cloud. demandware built up a business that was related to salesforce in some ways. but growing at a faster pace than salesforce was. salesforce decided they wanted to be near that business. and indeed wanted to benefit from being closer to the customers and being present in verticals. shery: will this purchase boost competition with oracle or sap? sheelah: the price suggests there was competition to acquire this company. extraordinary multiples for the company. $67 million in sales last quarter. to pay $2.8 billion for a company that is doing $300 million in annual sales for this curre

scarlet: thank you, carol massar and cory johnson. alix: coming up, briggs it worries impacting the global market. -- briggs it worries impacting the global market. we take a look, next. ♪ alix: from bloomberg world headquarters in new york, you are watching bloomberg markets i'm alix steel. scarlet: and i'm scarlet fu. let's go to bloomberg first word news. mark crumpton is more. mark: there has been a shakeup in the donald trump campaign. corey lewandowski has stepped down. there was tension between him and another member of the campaign. corey lewandowski has been a controversial member of the campaign. he remains the gop chairman. and the associated press cited an iraqi military commander, who said most of the -- cannot melt into the population or sneak into areas controlled by the islamic state. and a discussion about on whether certain workers deserve overtime pay. it involves a california bottle dealer who claimed that service advisors are similar to car salesman or mechanics, exempt from overtime requirements due to the fair

thank you, carol massar and cory johnson a bloomberg radio. just ahead on "bloomberg markets," the latest jobs number medes the fed needs to take a pause. ♪ scarlet: from bloomberg world headquarters in new york, you are watching "bloomberg markets." i'm scarlet fu. let's begin with the headlines. mark crumpton has more from the newsroom. : the world health organization is putting together an expert committee to consider whether the real olympics should proceed as planned, given recent concerns about the zika threat. a group of 150 public health experts last week called for the summer games to be postponed or moved because of the virus. says that was no public health justification for such a move. political conventions just weeks away, organizers in philadelphia and cleveland are working to hit fundraising goals that top $60 million each. republican organizers say they have raised $56 million of their $64 million goal. democrats are about 9 million short of topping $60 million. muhammad ali is reported to be in fair condition at a phoenix ar

and coming up on bloomberg west, the great cory johnson. we will see you tomorrow. until then, sayonara. ♪ mark: i am mark crumpton. you're watching "bloomberg west ." to beentally unfit president, that's how democratic front runner hillary clinton described likely republican nominee donald trump during a speech today in san diego. ms. clinton: even if i weren't in this race, i would be doing everything i could to make sure donald trump never becomes president because i believe he will take our country down a truly dangerous path. mark: secretary clinton delivered her remarks at the start of a five-day trip to california, one of six states holding primaries june 7. house speaker paul ryan says he will vote for donald trump. ryan made the announcement on twitter and in a column for his hometown newspaper. for the past month ryan had been reluctant to normally support mr. trump. turkey has recalled its ambassador to germany. the vote increases tensions between turkey and germany at a playing aankara is key role in slowing the flow of migrants to europe. the nba fina

i'm joined by cory johnson and liam jenning. you open your piece on the post merger with elon musk talking about this being part of the non-weird future, yet you believe it's weird and he is letting on. explain. : very heavy on long-term vision. renewable energy where tesla was not only going to sell you your nice electric vehicle but solar panels to go on your house and so forth. what wasn't there was a clear explanation of what the benefits of this deal would be to investors and what the savings would be. why this idea that a one-stop shop is needed in renewable energy. that was not clear either. emily: what are investors saying now that they had 24 hours to digest this? cory: it was interesting to watch the trade in solar city. first, it never reached in your near the bid price. shares fell off a little bit today as people start to realize this deal might not even happen because it is so illogical. i was shocked to see so many analysts agree with me that this does seem illogical. is af the concerns here lot of them lowering t

. ♪ cory: i'm cory johnson, in for emily chang. this is "bloomberg west." aftertors investing tela a feature causes a fatal crash. first kim kardashian, now gordon ramsay. mobileret to celebrity games defense. in san francisco the red-hot real estate market may be cooling. deflating rents in what was the hottest real estate market in the country. tesla shares dropping on the news that a model s was involved in a fatal crash. the highway safety administration opening a preliminary investigation after a tesla apparently led to a fatal collision may 7, 2015. for more on this, let's bring in tim higgins from washington. what happened? tim: tesla saying a tractor-trailer was crossing a divide highway and when it was perpendicular, the tesla hit it. one of the key things tesla is saying is the white trailer up against a bright sky and the car as autopilot did not see it, and the driver did not see it. it's been one of the areas of this technology that there has been something such as snow that this technology has a hard time seeing. it's not surprising that perha

. ♪ on cory johnson, and this is bloomberg west. coming up, oracle's transition to the cloud is accelerating. the company'sdown cloud fueled q4. plus, the value of bitcoin has gone up 70% in the last three weeks. we will talk to experts. and the cheapest, smallest satellites in the history of aviation are changinggame. first, to our lead. a twist in one of the biggest stories. bloomberg has learned before microsoft bid on linkedin, salesforce made a bid. sarah frier joins us. this is really interesting, and it starts to make sense what microsoft saw in linkedin, because salesforce saw the same thing. jeremy: and also the price. people were questioning microsoft paying a premium over their current trading, although lower than what linkedin was trading at six months ago. people were saying there must have been something going on. of course, bloomberg broke on monday that goldman sachs was working with a rival, which is thee -- which is why linkedin-microsoft deal was handled by morgan stanley. now we know. cory: do we have any sense a

cory: i'm cory johnson, in for emily chang. right sharing startups are duking it out globally. uber announced a $3.5 billion injection from the saudi sovereign wealth fund. we will catch up with lyft's chief business officer. ernest moneys tells us why he's betting big on tech renewables. fox takes a beating, shares down the most in four months despite a strong sales number last quarter. what happened? the company ceo joins us to discuss. $9 billion of new money has been invested in the right sharing industry since the start of 2016. this week we learned the saudi sovereign wealth fund is writing uber a check for $3.5 billion, and there is more to come. uber's biggest rival in china says it is closer to making an even bigger route. one way lyft is trying to claw at uber's market share, by winning corporate customers, most recently from apple. ric, you had this story. what is happening in this business battle? >> lyft has long had a consumer friendly reputation, invented the peer-to-peer model. cory: pink mustaches? >> i think they have moved away from that. business is a big ma

. ♪ ♪ >> i am cory johnson in for emily chang and this is the best of bloomberg west. coming up, ridesharing startups are duking it out over cooper announcing a three and a half billion dollar injection from the saudi find, and we will catch up with lyft's chief business officer. we will take you through mary meeker's predictiof

. ♪ ♪ >> i am cory johnson in for emily chang and this is the best of bloomberg west. coming up, ridesharing startups are duking it out over cooper uber announcing a three and a half billion dollar injection from the saudi find, and we will catch up with lyft's chief business officer. we will take you through mary meeker's predictions of the future of the internet.

we were speaking with cory johnson about what this might mean for the deed of companies and he was saying it would bring a front end to microsoft's back .nd customer relationship thank you to emily chang with microsoft ceo satya nadella and linkedin ceo jeff wenner. a quick check of equity prices as we head to the markets desk now -- linkedin trading at around the acquisition price. in fact we are going to go back to emily chang in san francisco because i believe that mountain view interview is continuing. emily? emily: microsoft ceo jeff ceo, jeff microsoft weiner, linkedin ceo back with me -- actually we don't have them back. we are still working on this. vonnie, back to you. vonnie: we will go to julie hyman at the markets desk. atie: you are just looking the major averages which recently went into the green. the s&p and the dow particularly back in the red. definitely it is looking more mixed at the moment, even though what you are seeing is all three major averages technically down. downow losing the least, six and half points. take a look at the bloomberg here. the pivot point has b

joe: i want to bring in bloomberg's cory johnson. >> this cloud software transformation looks powerful. if you lookd raise at the top line, talking about what will happen in the coming quarter, is building off the success they had in the last quarter. without currency, and the quarter and the court of before took a big hit from currency, but without currency in constant dollars, the business would have grown at 68%, which is fantastic good they're saying that next quarter 75% to 80%. the move to the cloud for oracle has happened very fast. also, adding a lot of new customers. they have four times as many customers as workaday. really adding a lot of customers. the margins are getting better. accelerating,and which is what wall street wants to see from this company because it shows it is making up pivot from licensed software to cloud-based software, still only 10% of sales, but the future of this company is happening now. scarlet: when it comes to oracle picking up share in the cloud business, is it doing it by stealing share from salesforce or picking up new share? >> it is hard to sa

joining us is bloomberg editor at large cory johnson. why did google capital get into care.com? corey: to make money. david: fair enough. : there we have it. thanks for joining us. no, google capital has made a number of investments in companies, and then they bring them into google and try to use the different asset and projects at google to accelerate their growth. interestingly, google capital has been looking at some public companies as well and wondering how that might work with them. care.com, they found a number of things that are fairly unique. a big investor who wanted to liquidate shares, and they found the opportunity from the company to issue convertible shares as well that convert, interestingly, below the price a the stock, at $10 and $.50, 5.5% dividend as it goes on overtime. they think they can really accelerate the growth of the company by using the assets and abilities of google corporate, or i should say alphabet corporate. vonnie: in the context of the acquisition, $46 million is quite tiny. cory: in terms-- of the size of the business. google has had some f

. ♪ >> i am cory johnson in for emily chang and this is the best of bloomberg west. coming up, ridesharing startups are duking it out over cooper announcing a three and a half billion dollar injection from the saudi find, and we will catch up with lyft's chief business officer.

thank you very much, cory johnson. jonathan: coming up is "bloomberg markets" with mark barton. but itfirming up a touch has been quite a session already. mark: and what a day to have scott mather on who manages pimco's returns. on the day that german 10 year goes below zero, joining switzerland and japan. the ontario finance minister will be joining us as well. biggest banks,'s many of which have a sizable exposure to the u.k., the hit by a potential brexit? president obama will be holding a news conference after the national security council meeting. "that, "bloomberg very own david westin speaks to bill clinton. jonathan: bloomberg markets the european close coming up. we will wrap up the first 25 minutes of global trading in the united states. ♪ jonathan: this is "bloomberg go," i am jonathan ferro. equities resilient in the united states. the s&p 500 lower 1/10 of 1%. compare that to europe where we are down one full percentage point. yields are low with 10 year bond yields negative for the first time ever, grinding lower on treasuries as well. stronger yen, weaker po

scarlet: cory johnson joining us from san francisco. we will stay with technology and check in with abigail doolittle who is live from the nasdaq, where she has the latest on some tech names. abigail: overall, we have the nasdaq changed -- unchanged, down just slightly. andman trimmed estimates its price target on lower smartphone growth. calling for a big slide in smartphone growth this year and next year, from 2015, to roughly 10% growth. estimates are still above consensus and the price target calls for more than 25% potential upside. so this could be potential upside for goldman. the bigger drag is also microsoft shares down 1%. worldwide tablet simmons could year..6% this sayrman john thompson did microsoft is thinking about revamping it sells forced to move more quickly toward the cloud. some of the legacy products away. we know your twitter thechartress for nothing. do these reflect uncertainties? abigail: indeed. it shows a battle between the balls -- the bulls in the bears , the buyers and the sellers. some of the medium and lo

let's join cory johnson and carry -- carrie massar. >> thank you. we have the chief executive officer joining us in our studio. the function on the terminal, a 41% chance on the u.k. leaving -- leaving the european union. 70% do not know. what do you make of the polls out there? are they accurate? >> there are a lot of different polls. some point to a neck and neck type of potential outcome. the remain.favor of when you get to potential votes for the grexit, 30 or more tellnt, they are not just risks anymore. they are real-life probabilities. every bit of research reveals this as being nothing less than a potential disaster with respect to trade in the finance center going forward. not just the u.k. but also the euro zone, which is struggling so much with weak growth and week inflation at this point. >> we talk about the horse race and the numbers and percentages, but i think the direct impacts are more interesting, what is at stake here. give me one thing you think could happen that might surprise people if the grexit happens? >> there are a couple

carol massar and cory johnson join us now. carol: at what'sre looking going on with tech stocks. when you are looking at the world of tech stock investing, are there trends you are focused on? >> the long-term macro trend right now is the shift away from and thet, on premises shift to the cloud so away from and more like ibm toward companies like amazon and workday and service now and salesforce.. l: what has that meant in terms of your portfolio? >> the big shift we made earlier betweenr january-february during the volatility was to move out a lot of the legacy it positions and concentrate the portfolio in the higher growth, more rapidly being adopted, cloud companies. we think this year is the year for cloud adoption where in order to keep your job as the chief information officer, you need to be moving to the cloud now and make these changes to improve the security of your organization. rol: the more specific, which companies have you been buying or selling? some of the leaders in the cloud are clearly amazon with their web services and work day which is a manufacturer of hr s

let's go to cory johnson and carol massar. thank you so much and we welcome everyone on bloomberg tv we are talking with the chief market strategist. todaynt a lot of digesting what we got from the federal reserve. no one expected them to do anything and yet it's impacting markets. >> it absolutely is and i think it will continue to do so. there are so many took -- subtext yesterday. it was not just about keeping rates on hold but it was about the expectation for the longer term and seeing the rate expectations drop for next year and the year after. carol: that's remarkable. during the was and press conference, she was talking about secular stagnation which is code for slower growth for the u.s. economy for longer and a readjustment to the fed policy as a result. cory: the functionality and usefulness of the dot plot, does it apply? i wonder if it really helps is now? >> that's an important question. it is still useful because it helps you get in the heads of the policymakers and understand better why the recent slow growth, w

we want to go to cory johnson and carol massar on bloomberg radio. carol: thank you. we want to talk to our next guest about brexit. chief executive officer at the assets stock exchange. he joins us in the studio. theave been obsessed with potential of the u.k. referendum going in the way of the u.k. leaving the eu. what are your expectations and what could specifically the on the greek investment and greek business environment? >> first of all, hello. thank you for being here today. have seen last week the volatility to be increased in the greek market. we are well prepared. history in the past years. our market is driven by investors. 60% is owned by foreign investors. anxious about what will happen with the brexit. i believe that situation after the unfortunate event has in the sentiment has changed. i see a lowering of volatility of markets. that means the situation is different than what it was. carol: you assume the referendum will go in remaining the union? >> for capital markets especially in europe, it is an important issue. know the familiarity of the u.k. i