bloomberg businessweek" joel weber. let's start with remarks in asia, that bears close watching. "businessweek" has been writing about the debt pile up in china. china has been doing something to get rid of that. joel: this is called the year the dog. what we will be talking about is deleveraging. the debt pile up in china is enormous. there's been a number of people -- the further away you get from china, the more bearish you get on china, apparently, but for years, people have been calling for something is going to give. it will be bad for the global economy. all eyes on this in general. where our story picks up on that is talking about, the number is $30 trillion. that's how much we are talking about here. it's massive. the number people pick up on is 2.5% gdp. what do you do about that? president xi -- this year will be about deleveraging, which is what this is about. julia: still providing credit to companies that they are not concerned about, but they are also cracking down on big corporates that have been spendin

julia: all that the head of uber businessweek. -- bloomberg businessweek. ♪ carol: we are here with the editor in chief joel weber. and joel, we will start in the finance section. we have to talk about the markets because we all started off the week with a crazy stock market. joel: it has been a wild week. backdrop here really starts last friday with the jobs report. markets come back on monday and there happens to be a new fed chair. that backdrop is a really interesting thing that ends with this major selloff on monday. right? and then on tuesday, it goes the other way. i think everybody has been a little whiplashed by that. a bigger conversation nine years into this epic bull market. a lot of retail investors have only ever seen green and this is their first time seeing red. carol: a lot of millennials, right? joel: the youngs. and it's so easy to trade now. if you think about what it was like nine years ago to where it is at now, you can do this on the smartphone with a touch of a button and that is a free thing, right? a free transaction. that builds in really bad behavior. that's

julia: this is "bloomberg businessweek." ♪ carol: welcome back to "bloomberg businessweek." i am carol massar. julia: i am julia chatterley. you can find us online. carol: in the economic section, a credit squeeze is on in china like in other parts of the global economy. julia: but in china specifically, the corporate titans are feeling the pinch. linda: in china, authorities have been particularly worried about debt in the corporate sector. rather than use benchmark interest rates, they are using problemto measure the so as to not compromise growth. i think the alarm bells started sounding in 2016 when chinese companies went on a huge m&a binge that bolted them to number two in the global m&a. behind the u.s. that was a wake-up to chinese policymakers. a lot of these deals were happening abroad. a lot of them were debt-funded. carol: talk to us about the levels of debt. we have had short-sellers come on and talk about the chinese debt. put it into perspective for us. linda: there is a mind blowing number. between 2008 and 2016, chinese debt increased by $22.4 trillion. that

- "bloomberg businessweek." i'm carol massar. julia: i'm julia chatterley. you can find us on the radio on sirius xm. and also in new york. 1061 in boston. 99.1 fm in washington, d.c. and a.m. 960 in the bay area. carol: and in london. and in asia on the bloomberg radio plus app. in the feature section, world wrestling entertainment, or wwe , is on a roll. julia: shares are trading at an all-time high. they are taking some big risks. carol: our reporter took a trip to the company to hear about its plans about world domination. >> right now wwe is doing really well. we looked into why that was. a lot of it has to do with a decision the company made in 2014, they were looking into what they want to do in the future with digital products, and i noticed their fans were subscribing to netflix and hulu. they thought, we should try launching our own video streaming app product. julia: risky. bold call. >> yes, at the time everyone watched it, if you are a big wwe fan, you would turn on cable and watch these weekly show

this is "bloomberg businessweek." ♪ ♪ carol: welcome back to "bloomberg businessweek." carol massar. julia: i'm julia chatterley. you can find us online on bloomberg.com. carol: former barclays chief bob diamond is taking on a risky bet. julia: an opportunity for small business lending in italy. here's our reporter, elisa martinuzzi from the line. >> this is with barclays, investment banking powerhouse. he has been tiptoeing another business areas. he tried to replicate banking but didn't quite go according to plan. it's the turn of italy and southern europe. he seeing the opportunity to fund a business that has been the backbone of italian economy, which is bank lending to small-medium-sized companies. >> when you think about italy, you think about the struggles of the banking sector. set the scene force us: is this situation improving here for nonperforming loans in italy? >> i think what's interesting is the timing. for the last couple of years, the focus has been on that banks have built up. they've all been focusing on purchasing some of these bad debts, prices in

businessweek" editor-in-chief. in "bloomberg businessweek," in the more must read section, we are honing in on at some mobile, sick to death of the climate change of lawsuits. it is fighting fire with fire. >> it is an interesting take. i would call this one a need to know read. what exxon has done here, is change the narrative by going after lawyers. the very lawyers that are suing them, they are turned the narrative and they are going after them. we are talking environmental activist and attorney generals. carol: they talk about the la jolla playbook. >> the la jolla playbook, that is the term. what happened is six years ago, the rockefellers, which have a fund, the irony here is the rockefellers were standard oil. standard oil is basically exxon today. the rockefellers invited a group of people to la jolla, and exxon has pointed a finger at that and said they were conspiring against us. that is the whole essence of this story. carol: so they were plotting against exxon? >> some of the legal experts say this is a

businessweek. we are here inside the headquarters in new york. in this week's issue, can jeff bezos, jamie dimon create a new model for the american health care system. >> marble unleashes the black panther at the box office. >> all that is ahead on bloomberg businessweek. ♪ >> we are here with the editor in chief of bloomberg businessweek. i start in the business section. this is about a trifecta of well-known individuals, warren buffett, jeff is us and also jamie dimon talking about fixing the health care system. >> the biggest guys around. remain kind ofll hazy, what will actually be the solution in health care. how they're going to try and fix this. they are trying to find a ceo who can spearhead this initiative between the three companies. amazon.com, berkshire hathaway and j.p. morgan. what is interesting and where we have tried to pick up the narrative is the reaction within that industry. the health care industry said amazon is at the door? this is a big dip. >> this is not what we were a

julia: this is "bloomberg businessweek." ♪ julia: welcome back to "bloomberg businessweek." i'm julia chatterley. carol: i'm carol massar. steve cohen makes a comeback on wall street. pirates of the caribbean. julia: all that still to come on bloomberg businessweek. ♪ julia: we are back with editor in chief joel weber and we're talking in the features section about emily chang's new book. it looks at the bro culture in silicon valley. why so few women work there. it wasn't always the case. >> there were a couple details from this chapter that we excerpted that i was excited about. the original jpeg was a "playboy" centerfold. that sets a tone. that was the opening anecdote that emily so gracefully starts the story with. carol: the original sin. >> how can you talk to a woman when you have that? the glorification of that sets an interesting tone. the other thing i didn't know was how many women were once in this field. julia: making advancements in the field, as well. >> the date she also talks about is 1984, which happens to be the most iconic super bowl commercial of all

carol: welcome to "bloomberg businessweek." julia: we are here inside the magazine headquarters in new york. carol: warren buffett and jamie dimon create a new model for the health care system. julia: investors that big. carol: marvel's "black panther" at the box office. julia: all that ahead on "bloomberg businessweek." ♪ carol: we are here with the editor of "businessweek." let's start in the business section. a story that is fascinating came out a couple of weeks ago. it is about a trifecta of well-known individuals, jeff bezos, warren buffett, and jamie dimon talking about fixing the health care system. >> the biggest guys around. the details on this story remain hazy. what will be the solution in health care? how are they going to try to fix this? they're trying to find a ceo who can spearhead this initiative in the three companies. what is interesting, and we pick up the narrative, the reaction within the industry. the health care industry, amazon is at the door, this is a big deal. that is where we picked up. julia: th

julia: this is bloomberg businessweek. ♪ ♪ carol: welcome back to "bloomberg businessweek." i'm carol massar. julia: and i'm julia chatterley. you can also listen to us on the radio in new york, boston, washington, d.c., and in the bay area. carol: and in london and asia on the bloomberg radio plus app. in the business section, taylor swift is changing the way tickets are sold and scalpers are not happy. reporter: for her upcoming tour "reputation," same title as her album, taylor swift and ticketmaster have come up with a plan to try to ensure that they keep all of the money pretty much from the ticket sales. the last time taylor swift went on to work for 1989, she thinks she lost maybe $85 million to scalpers based on rough estimates of how much tickets usually go to scalpers and how much average ticket prices was. this time, if you are a big fan, you sign up for a program, which is part of an initiative taylor swift has. you bought an album and watched newsletters and for each one of those interactions, you have a boost that lets you take part in a presale, we can get tic

bloomberg businessweek," joel webber. let's start in the business section. a story that is fascinating came out a couple of weeks ago. it is about a trifecta of individuals, well known individuals, warren buffett, jeff bezos, and jamie dimon talking about fixing the health care system. joel: right. the biggest guys around. the details around this still remained kind of hazy. what will actually be the solution in health care? how are they going to try to fix this? they're trying to find a ceo who can spearhead this initiative in the three companies. amazon.com, berkshire hathaway, and jpmorgan. what has been interesting, and where we try to pick up the narrative is the reaction within the industry. because the health care industry, amazon is at the door, this is a big deal. that is where we picked up. julia: this is not what we were expecting from him as a foray -- amazon as a foray into the health care. we should make the point that at the moment they are tackling the situation with their individual companies. as you poin

this is "bloomberg businessweek." ♪ ♪ carol: welcome back to "bloomberg businessweek." i'm carol massar. julia: and i'm julia chatterley. and you can find us online at businessweek.com and on our mobile app. carol: in the politics section, u.s. forces killed hundreds of russian mercenaries in syria. julia: and the incident is raising the possibility of greater conflict between washington and moscow. carol: here's editor matthew philips. matthew: it has been a very active start to the month of february, for sure. we have seen an escalation in tensions. we have seen some actual, real shooting going on. we have seen aircraft being downed from iran, from turkey, from russia, from israel. they have all seen aircraft shot down over the first part of february. the most interesting event, the most seismic event, happened on the night of february 7 when it seems that a battalion of -- what by all accounts seems to be some russian mercenaries, numbering in the realm of 200 to 300 -- were killed by a u.s.-backed force led by u.s. forces and backed by the kurds in a failed attempt

carol: this is "bloomberg businessweek." ♪ you will ♪ carol: welcome back to "bloomberg businessweek," i'm julia massar. you and julia: i'm julia chatterley. carol: the fbi fight over the release of a memo that by the head of the house intelligence committee. write it? nunes >> it is a complicated story and we got more from editor matthew philips. matthew: this is a memo put together by republican staffers on the house intelligence committee that worked for devin nunes, a republican from california and a longtime trump supporter. it contains classified information that looks at ways in which the fbi sought approval for a surveillance warrant of a trump associate, carter page, a well-known figure in this back-and-forth of the russian investigation. the white house thinks that by releasing this memo, it will provide evidence that the fbi acted politically, improperly, in getting the wires tapped of a trump associate. our story starts aboard air force one on the way to davos and the president gets furious when staffers tell him about the latest wrinkle in the pressure investigation, whic

julia: this is "bloomberg businessweek." ♪ ♪ carol: welcome back to "bloomberg businessweek." i'm julia chatterley. carol: i'm carol massar. you can listen to us on sirius , boston, new york washington, d.c. and in the bay area. julia: in london on dab and in asia on the bloomberg radio plus app. in the economic section, the federal reserve may be considering new policy options as jerome powell succeeds janet yellen as fed chair. carol: more with christina lindblad. new leadership to consider the framework the fed uses to guide interest rates and 2% inflation 2012, has been the target. which would barely ever hit. has started this debate, which has been gathering steam and in january, the brookings institution held a panel questioning the 2% target. they found a lot of former fed chairman and economists to talk about that. the time seems right to kick this debate into the open. carol: the concern is -- because the fed -- the economy can't seem to hit the 2% mark. the fed is being very slow in terms of raising rates. go intoern is when we an economic downturn, they won't have t

julia: all that the head of uber businessweek. -- bloomberg businessweek. ♪

businessweek, joel weber,

. ♪ carol: welcome to "bloomberg businessweek." i'm carol massar. julia: and i'm julia chatterly, and we're inside the magazine's headquarters in new york. carol: in this week's issue, what happened to america's most iconic company, ge? julia: the dangerous dive for trade in the caribbean. carol: and taylor swift takes on the scalpers. julia: all that and more on "businessweek." ♪ carol: we are here with the editor-in-chief of bloomberg businessweek, joel weber, talking about the olympics getting underway.

bloomberg businessweek," joel webber. let's start in the business

julia: all that ahead on "bloomberg businessweek." ♪ carol: we are here with the

that is ahead on bloomberg businessweek. ♪ carol: we are here at the editor in chief's office

. ♪ carol: welcome to "bloomberg businessweek." i'm carol massar. julia: and i'm julia chatterly, and we're inside the magazine's headquarters in new york. carol: in this week's issue, stocks take a bumpy ride and we take a look at why. julia: and markets welcome the new federal reserve chair, jay powell. carol: inside north korea's army of hackers. julia: all of that ahead on "bloomberg businessweek." ♪ carol: we are here with the editor in chief joel weber. we will start in the finance section.

joel: i have an article coming out in businessweek about travis kalanick's role as a witness and how important he is to uber. he is so well rehearsed, coached is not the right word, but practiced with his lawyers. he gives the same answer, that he knows only the kind of outlines of what happened. he doesn't know all the legal ramifications of what happened. emily: all right. joel rosenblatt, our legal reporter. excited for your daily updates as the trial gets underway. thank you. we continue to monitor the slew of tech earnings just out. facebook's earnings call. full coverage of that and other highlights from microsoft's results. here is what sheryl sandberg had to say about working with advertisers to combat his termination and hate speech. this is bloomberg. >> we take our responsibility to prevent abuse of our ad system very seriously. we are investing heavily in both people and technology to protect the integrity of our platform. in addition to rolling out the ads transparency tool in canada that mark mentioned, we have disabled the option that lets advertisers exclude people in

. ♪ >> welcome to bloomberg businessweek. i'm carol massar. julia: i'm julia chatterley. we are inside the magazine's headquarters in new york. carol: beijing continues to feel the bites of deleveraging. julia: and how a tiny chinese island can became a hub for removing chinese cash. carol: steve bannon has another warning for the white house. julia: all that ahead on "bloomberg: business week." ♪ carol: we are here with the editor, joel webber.

the cover story of bloomberg businessweek about how jay powell will be reacting to the markets. a pretty eventful day in washington. let's not start with rob porter. bipartisan budget deal that increases spending by $300 billion over the next two years without any fiscal discipline whatsoever as they extended the fiscal cliff for a year. they have a home equity line on the country's credit with no limit. julie: at what point does it become a problem, does it? are looking at that for this coming week's issue of the magazine and at first he would think, all the people who worry about budget deficits are going to be quite concerned that the republican party seems to have given up on audited facility. i think it is more likely, if you look at the polls, pew research center had a poll last month asking people about the importance of budget deficits. both parties show a decline in the concern of budget deficits since the obama years. interestingly, deficits are more problem now than they were five or six years ago when the economy needed fiscal stimulus to pull out of the recession. n

do not forget to pick up the latest issue of bloomberg businessweek. looking at the great barrage of ge. a stock everybody is watching. this is bloomberg. ♪ ♪ this is bloomberg surveillance. tom keene has the morning off. elon musk is venturing outside of tesla auto sales to pay for his proposed transportation tunnels. he recently sold 20,000 flamethrowers. tesla has millions of dollars of bonds. is the company's inaugural after charming buyers in the convertible bond. joining us now to discuss all this is bloomberg's bonds reporter. meanthis success actually tesla's funding problems are behind them? >> not necessarily. the company will burn through its $4.2 billion of cash this year alone as it tries to ramp up production for the mass-market model threes. deal likely a single bond will not get rid of those issues. the demand for these bonds was amazing. 14 times oversubscribed. the demands for the bond was 14 times bigger than the supply. opportunity is an to sell a lot more. francine: is tesla the darling of the bond market? >> tesla has with a b

his rival is the cover star of this week's bloomberg businessweek. if you look at the performance of boeing over the last year, they had a blinder of a year. they more than doubled. they were in trouble with donald trump. the reengineering of the contracts. they have come under huge fire from their suppliers as a result of putting pressure on them to cut prices. they are building is this is the challenge them. an interesting contrast with ge. boeing now the biggest exporter in the united states. fascinating story. scarlet: it is extended as well. give you look at boeing this year, it is up by 20%. cisco's number two with a 15% advance. the collapse of xiv. is the alphabet soup masking real risks. this is bloomberg. ♪ we use our phones and computers the same way these days. so why do we pay to have a phone connected when we're already paying for internet? shouldn't it all just be one thing? that's why xfinity mobile comes with your internet. you can get 5 lines of talk and text included at no extra cost. so all you pay for is data. choose by the gig

we welcome in josh green bloomberg businessweek. josh, you know the first campaign so well. explain the role that brad paschal l played in the first campaign. >> he was the digital guru. unbeknownst to many people, he had a large and pretty sophisticated data center in san antonio, where he lives. he spent a lot of time cultivating his facebook audience for donations, figure out where to go, who to target, which clinton voters to target to suppress their votes. this wound up being very instrumental in the outcome of the election. himself, parscale started with a very lowly job, was a freelance website developer who built the trump winery website but stuck around and prove his loyalty to the family. much like hope hicks and others who are senior officials, he will now be tasked with getting trouble elected in 2020. tensions there any focusing on the social media aspect of the campaign and the russian investigation. that is a lot of speculation, having to do with social media on the russian side. the house intelligence committee did call him him to testify about how the trump

in this week's bloomberg businessweek, a look at a chinese company who operates one of the most successful gambling operations in history on that tiny island. it dwarfs anything out of vegas. we sat down with matthew campbell for the details. take a listen. it is the capital of a pretty obscure american territory called the commonwealth of the northern mariana islands. you look for guam and go up to the right on a map. it is an impossibly remote part of the world. 14 time zones from washington. quickest way to get there from the mainland of the u.s. is to go to tokyo and double back. in is a place where the use u.s. dollar, u.s. mail. federal law extends their. this is part of america. >> talk to us about 2014 and what happened then. >> the big issue in the mariana islands since the second world war has been finding an economic purpose. numerala part of that has no natural resources, industrial base, nothing to sustain the economy. there was a big industry starting in the 1980's, really, which became enormous in the 1990's and 2000s. that eventually collapsed. what that meant was the maria

bloomberg businessweek spoke to a hacker from north korea. ♪ tom: yes, betty, a choppy end in certain day in the u.s. how that feeds into the asian markets will be a big focus for us. we will get data points out of china on trade. clearly there is a lot of reliance on china's economy ticking over strongly to keep the globalized economy going. will there be softness around exports, imports? and what about the u.s.-china trade relationship, given china is looking at reviewing the story imports -- reviewing the soy imports. we have some great guests lined up for the rest of the show. betty: we do, indeed. investors are keeping one eye on those you mentioned, looking to see what treasury bonds are doing. equitye leading what markets are doing here in the u.s. as we heard from one of our guests, there is more downside, this is having echoes. to him at least, of 2008. let's hope not. in the meantime, i want to bring in sophie kamaruddin with a look at the major markets coming online. sophie: following wall street, caution may prevail. we are seeing stocks in japan climb 0.6%. japanese stock

pick up thege, latest issue of bloomberg businessweek. it is this week's cover story. markets, on bloomberg we are all over the market decline. this is bloomberg. ♪ jonathan: i'm jonathan ferro. 30 minutes until the start of trading. this is the countdown to the open. jonathan: big tex dominated and investors wait to find out if orders for the iphone 10 are true. sheehan over to jay powell. the macro bank drop. optimism on the continent. openinges away from the despite that strong macro banks are up. we'll roll over by about eight or nine points on the s&p, down about 131%. the euro is big off the back of solid pmi data on the continent. on -- your 10 year yields up to 2.73%.

you can get a hold of the latest additions of bloomberg businessweek now. this week's global addition look at how boeing pism, and we look at the feeding of angela merkel. this is bloomberg. ♪ tom: good morning, everyone. nejra cehic in for francine in london, i am tom keene in new york. it is a friday, to get set with all going on next week. with your first news update, here's taylor riggs. taylor: according to an arrest report, a 19-year-old former student confessed to the deadly school shooting in florida. school cruz was in the for just six minutes and is accused of killing 17 people. he was ordered held without bond . about 1000 people turned out for a candlelight vigil last night where the names of the victims were red. -- read. the white house joined u.s. allies in blaming russia for a massive cyber attack last year. merck and maersk were among those hit. the attack shutdown computers for days and cost as much as $300 million. it is a sign that demand for american debt remains resilient. china increased its holdings of u.s. treasuries by the most s

be sure to pick up the latest issue of bloomberg businessweek. this is bloomberg. ♪ tom: good morning. tom keene in new york. francine lacqua in london. kevin cyrilee will join us in the next hour. what an eventful weekend in washington. we'll give you a full brief at that time. right now, with our first word news, here's taylor. taylor: janet yellen says u.s. stocks and commercial real estate prices are high, but she stopped short of saying those markets are in a bubble. the former fed chair also told cbs news she's disappointed president trump didn't nominate her for a second term. safety investigators in south carolina say a fatal passenger train crash could have been prevented. two people were killed and more than 100 injured when an amtrak train crashed into a freight train. a switch was locked in the wrong position, sending the amtrak train on the wrong track. economic momentum in the euro area rose in january to the fastest pace in almost 12 years. that led companies to add the most workers since the turn of the century. europe's expansi

host: there is a new fed chair, jerome powell, and this is the cover of bloomberg businessweek. how did your first day go, jay? with regards to the dow dropping more than 1100 points. what is his biggest challenge and what do expect from him? he comes to the table as someone who understands business and the economy. guest: yes. he is a little bit of an unknown at this point. if you look back to comments he had made, they beat five years ago, i am trying to remember when, but a few years after the crisis, he suggested there might be room for more tightening monetary policy, and that may be markets -- i do not think he used the word busy or bubbly, but he suggested assets might be in play. that is part of the reason why stock markets freaked out about one week ago, when we got the news that wage growth was stronger than expected because if wage growth is star than expected, that could intentionally lead to higher inflation, and jerome powell's predecessor, janet yellen, was seen as an inflation does, not as worried about inflation, so there was not a need to tighten monetary polic