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mark twain was like this. most of his works, the ones that endure and that we still love are very amiable books, where he is the butt of his own jokes. at the same time, any of his writings are very caustic. it is impossible to find a real coherent political philosophy behind them, but he could be very outspoken. i think he felt a duty to be so. this suggests a tremendous assurance about mark twain's station in society. that is the kind of thing -- to take an exaggerated example, winston churchill, this takes generations to develop, this sense of security in one's position in society. twain exhibited that. i think it supports the idea that he had some kind of aristocratic ancestry. third, this might be my favorite, mark twain liked money. the true virginia aristocratic types that i have known, they see no advantage in foregoing the pleasures of life. they like to live well, and it can take money to live well. mark twain lived very well. he liked the champagne, he went to the finest restaurants, stayed in world

why, mark? because i passed the best night of my life. >> after returning to courmayeur, monica says mark stern told her he had been inspired by that night on the mountain and wanted to spend a whole year at a high altitude in a tent alone. >> he wanted to write a book, how to survive above -- >> 6,000 feet. >> exactly. for an entire year. >> that september monica says mark set up and equipped three separate campsites in the mountains above courmayeur. >> really beautiful. really beautiful. >> she says he told her that after publishing that book he was writing they would move to switzerland together and perhaps adopt children. >> this is my little city i started building. >> and so, as the temperatures dropped in the fall of 2009 and the snow came, the man monica knew as mark stern set to make a name for himself in the alps. to her, it seemed crazy. but writer buzz bissinger says monica's mark stern was actually behaving true to form. >> i think when he decided, i'm living this philosophical, ae

mark: can we talk about inflation. it brings me to the ecb who spoke in dublin, from a perspective,bility it may be a matter of concern about future adjustments. underestimated the threat of inflation? potential knock before markets if inflation is being underestimated? >> you hit the nail on the head. it is a huge risk for markets. when we have all discounted inflation forever, you are talking big reversals in trades, big volatility. the central bank does not want to see that. moving partsot of that central banks cannot control. goods inflation. currency movements. central banks cannot control that. they can control aspects of the domestic economy in price pressures. for the fed, one thing making it difficult to get inflation higher and keeps markets betting against inflation is the technological impact. it is greater than many are estimating. what do you do about that? the president of the new york said low inflation is a good thing. it affords us the ability to maintain a gradual pace of hiking. the rest of the econ

mark? mark: markets rebounding with some investors saying the fear of interest rate hikes was the spark for the stampede out of equities. let's bring in jean-claude trichet, former president of the ecb and current european group chairman of the trilateral group. thank you for joining us. do you have a sense of what caused what was deemed the stampede in equities? >> as very often in such circumstances, a multidimensional cause. that obvious that the idea the u.s. economy would need higher rates. the fact that inflation seems to be much better, to the extent they are looking for more inflation in the u.s. i would say the fact that the price earnings ratio are easily -- obviously very high, and a large number of observers had said that the correction was probably necessary. and likely. you see a number of factors play their role. we are observing a correction. a number are saying it is a healthy correction and we needed it because we were too high in terms of the historical price-earnings rat

mark twain liked money. the true virginia aristocratic types that i have known, they see no advantage in for going the pleasures of life. and itke to live well takes money to live well. mark twain lived very well. champagne, he went to the finest restaurants, stayed in world-class hotels and build a preposterously large mansion in hartford, connecticut. mark twain also thought that he was a terrific businessman. wasgood a businessman he coming will have to read how not to get rich. make that assessment for yourself. think, in a sense, his claims to be part of the virginia aristocracy, passed down from his daughter and paternal father -- i guess all fathers are paternal. it is a tentative yes. with this caveat, a lot of these characteristics exist throughout virginia. why not question mark so many of us are kids in -- cousins anyway , however many times removed. there is one major exception to mark twain's extravagance. he loved cigars. he smoked day and night. without allowing intervals. he said in a cigar t

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this is bloomberg. ♪ ♪ mark: live from london, i am mark barton. vonnie: a new york, i am vonnie quinn. this is the european goes on bloomberg markets. cbs and viacom looking at getting back together. formed special board committee's to evaluate a possible merger. let's bring in richard greenfield of btig. how close are we to this deal getting done? >> the industry is getting significant pressure, subscribers are leaving multichannel television, over the top tv, look at netflix, up almost 50% year to date. linearrs are giving up television and moving to internet delivered on demand television. advertising is suffering. when you look at the growth of facebook and google reported, advertising dollars are moving to mobile and away from tv. a growing pressure on legacy media companies. you are either selling the way time warner, scripps, fox, murdoch even now selling. you are selling or buying. buy a calm and cbs -- viacom, cbs, cherry red stone is the controlling shareholder -- of both, the most logical first step is to get them to scale, these compan

mark: i am mark crumpton with "first word news." getting a glimpse and what happened during hope hicks' nine-hour testimony on capitol hill yesterday. she knowledge to the house intelligence committee that she has occasionally told which he termed white lies for president trump, but is not lying about anything relevant to the russia investigation. the panel is looking into russian in -- interference in the 2016 election. since democrats want -- senate democrats want president trump to push for more extensive background checks for prospective gun buyers. they are asking him to endorse legislation that would extend the prepurchase checks to online and gun show sales. the president will host a meeting of bipartisan lawmakers later today to discuss school safety and possible gun legislation. the city of charlottesville, virginia says it has complied with the judge jakey order to remove the blacks shrouds installed over two confederate monuments after a white nationalists rally last summer. charlottesville tweeted that city staff removed

am mark barton. welcome to bloomberg markets. ♪ vonnie: another huge earnings day, the biggest and this relative earnings and we will monitor the results. breaking economic data in the united states with julie hyman. >> manufacturing index for january 59.1 is the reading and 58.6 was estimated. a slightly lower revision for december. still, we have relatively high numbers for manufacturing. construction spending month over month in december also rising 7/10 of 1%. there is another stronger number on the u.s. economy, in line with what we have seen thus far. your manufacturing continues the expansion at it is close to its quickest pace since 2004, which i believe was last month. amidst the economic members, we do not see much movement in the stock market, in part because a lot of it is earnings driven as we get big companies reporting. a lot to report after the close of trading today. thettle bit of pause after selling we saw over the prior three sessions, stocks between gains and losses today. to g

mark: yes. obviously for whatever reasons that we do not know to this point, they wanted to support president trump and get him elected. it would be great to be a fly on the wall and human vladimir putin had to say about him. but i don't think you can expect anything different. i don't think it will ever change. i'm guessing that in our own way, america is doing some of the same things in russia. cory: you think the responsibility of technology companies to do something different and that we will have technology different in the future? let me offer an example. ndr, and tender -- ti that a more responsible thing that gave women empowerment and led to a different conversation around any online. i think that is positive to the future of social media. i hope there will be something after facebook and twitter that will also be more positive. mark: i don't think people will leave those platforms simply because there is so much fake news and extremist positions. it is incumbent on facebook, twitter, e

mark: thanks. coming up, top strategist at hsbc explains why the dollar is grizzly but it is not a bear. this is bloomberg. ♪ vonnie: let's focus on currencies. hsbc passes u.s. head of fx strategy. 89.5, have we seen the rise in yields. countries andher the dollar weakening, how does that work? yields go off and that respective currency could go up. this is breaking down for a while, but really the correlations between those two elements of the market have been weakening for three or four months. the change of the dig it -- at the be any of this year is that the u.s. administration shift focus, it is not something we have looked at for a decade or more. it meant the dollar became, is a trade deficit the needs rectifying. the cyclical aspect captured in the bond yields you mentioned got relegated to the background. the dollar could behave independently of the yields. we can see the ebb and flow but for now, the link between the yield on the dollar will remain relatively weak. your outlookchange a

mark. mark: fantastic interview. even as chief executive joins io'sto discuss ray dall short on the country. this is bloomberg. ♪ mark: this is bloomberg markets from london. vonnie: from new york, i'm vonnie quinn. julie hyman, thank you. julie: we are seeing a shift happening now as u.s. interest rates creep toward 3%. that could be a billion dollars of etf's. when you are talking about hundreds of billions, specifically $300 billion, that is your estimate. in which etf's are we talking about? >> several categories whose whole being were built on the back of low rates. this huge thirst for yield has been a trend. dividend stocks of 160 billion. mlps have 20 billion. then you have multi-asset income mortgage rates. those have another 10. we have seen some other examples of rates rising to study this. the question is how much above 3% does it go because you can see a lot of assets moving. you can multiply it by two or three mutual funds. again, some of the assets might stick. if the economy is improving maybe we co

mark: and i'm mark barton. this is "bloomberg markets." drama, the currency weakening in shanghai today. the biggest move for the yuan since the 2016 valuation showed the chinese trade surplus at more than half last month. still with us, david loom, global head of strategy at hsbc global head of strategy at hsbc. david: as shakespeare said, even the path of true love is not smooth. nothing goes in a straight line. two things i would say about it, one, volatility is infectious. given an event on the back there , with bigger moves in the currency than we would ordinarily see. number two, numbers from china don't look pretty at all. basically the pboc is talking about account realization, particularly in the bond market as well, so we are getting some two-way moves. nothing in a straight line, i would not moved to -- read too much into this. mark: you are calling china's stable economic picture with the campaign heating up and rumblings about a trade war with the united states. going back to late last year, everyone is worried about china, ch

mark. mark: delete it go is the function, and highs of the day, it comes to the back of the if wet weekly drop -- rise this week, it will be towards the weekly run. the two-day gain is the best since january 5. this is one of the big corporate stories of the day, the european playmaker in the 2017 with a record order a record order of backlog and delivered more just than ever before even so the billion dollar charge for the military and they werel, dependent on overcoming engine singleaffecting their engine jets. this is an interesting chart, u.k. government bonds no exception to this generation sweeping global financial markets. swings are being spread by domestic policy outlook. the highest level in a month, and that was after the bank of england said it could raise rates sooner than expected. the market pricing is more than an 80% chance as early as may. the data that supports or lessens the probability of a move will create big market swings. let's finish with one of the big moving stoc

with mark crumpton. special counsel robert mueller filed new charges in a case against president trump's campaign chairman paul managed and his deputy, former deputy rick gates. in washington, the federal court does not specify the charges. were indicted in october for money laundering and failing to register or political consulting work performed in the ukraine. in tallahassee, a call for action on docking gun violence. , bantudent's biggest wish assault type weapons such as the ar-15 paired the weapons police say was taken off the table the previous day in the state house. >> the people who deny this, if they want to claim only the god-given right of their second amendment, we are trying to take away all of your guns p just the ones being used to kill innocent children. attempted to get a bill to ban assault rifles in march, and florida tuesday. republicans dominated the chamber just missed it. u.s. lawmakers are urging the state department to restore embassies to hold last year in response to mysterio

he was wearing mark's hat, mark's coat. and closed the car door and then proceeded to like scream down the driveway, which mark would never have done. keith morrison: did you call out to him or wave? i waved and i went i hope that's mark. keith morrison: i hope that's mark? well, of course, it must have been, stephanie thought, rushing a bleeding ding to the vet. about 20 minutes later, stephanie walked up to the house to use the bathroom. this time the door was unlocked. but this was weird. before i even got to the door, there was this immense smell of bleach. keith morrison: bleach? yeah, like, it took my breath away. keith morrison: and inside the house. there was three wet, what looked like blood spots in the hallway, that had obviously been just cleaned and they were still drying. keith morrison: perhaps ding had bled on the carpet and mark had cleaned it up. but why would he take the time? he wouldn't stop and spend half an hour cleaning. his main thing would be getting ding to the vet, then getting to his appointment

rest in peace, mark telfer, and if they don't... ted! mark? mark! i -- i slipped, [ chuckling ] but i think i'm okay. oh, we still got you. all right. hey. he's alive. hey. what happened? well, i -- the -- waaaah! mark? mark! is he gone?! [ whispers ] is he really gone this time? okay. you got to ask yourself, "why?" rest in peace, mark telfer, and if st. peter won't let you through those pearly gates, you just show him your press pass. god damn it, mark! you finally got your scoop! later in the hour, avocado toast -- what is it? why is everybody suddenly talking about it all the time? we'll search for answers. and now, turning to "dog news," no! no! down! no! now, turning back to our human programming, the makers of weight-loss drug novene are under investigation for covering up side effects including severe depression and all of your skin falling off in one big piece, which, obviously, results in a gruesome death, but are the allegations true? we'll get to the bottom of it. full disclosure -- "the fake news" is a wholly owned subsidiary of novene.

this is bloomberg. ♪ mark: five, from london, i'm mark barton. vonnie: in new york, i'm vonnie quinn. this is "bloomberg markets." weight watchers reported earnings after the bell, yesterday. full year guidance came in well above estimates. their new weight loss program, freestyle, helping it to outpace competitor nutrisystem. with me now, international ceo of weight watchers, mindy grossman. i feel like i need to do a dance when i say freestyle. but it's not just a marketing campaign. you are in just marketing better. it's a whole different strategic look. the freestyle program has massive science behind it. it was in development for a time. what it really allows people to do is livable eating. there are over 200 foods that are zero points, on the evolution of smart point values. it really is about nutrients, it's about calories, it's about society. it's really teaching you the right choices and habits to eat healthier and live healthier. joint --nvestors got a age-old when it -- when oprah took a stake. that was a while ago, now. since you have

♪ mark: welcome to "surveillance," i'm mark barton in london. the stoxx 600 is up by 0.9%, rising for the fourth day in five, contract for the best week since december, 2016. the european gains surging 2.8%. year, coming.s. 10 down today, breaking below 2.9%, % is where we are today. we closed above 2.9 percent yesterday, the highest level since december 2014. today, export and import data. spot indexrg dollar is lower today by about 0.25%. sincee lowest level december 2014. a growing number of economists forecast the fed will step up the pace of rate increases. the u.s. twin deficit becoming a likely catalyst for a new wave of dollars selling after a brief respite, i say a brief respite in february. this is coming up on "surveillance" today. we talk with the chief executive of metro bank. withr, we talk the 10 year ylagos. mateos taylor riggs joins us from new york. reporter: the u.s. senate has blocked four immigration proposals, leaving a bitter impasse over how to protect 1.8 million young immigrants from deportation. this would provide $25

this is bloomberg. ♪ mark: live from london, i am mark artan. vonnie: from new york, i am vonnie quinn. this is "bloomberg markets." harvey,th us is chris head of equity strategy at wells fargo. that now the s&p 500 is 2600. up three quarters of a percent. the you -- do you see all of this volatility back? christopher: what we said before the spike in volatility is accepted -- this we expected not an elevated level, but higher, and spikes similar to what we are seeing right now. when you are seeing is monetary policy off the table and stocks need to stand by themselves. in addition to that, we were in such a low regime for a while that we had to stop. vonnie: why are we not seeing treasury yields rising faster? 2.85 on the 10-year. there is not been as much move in treasuries. christopher: a couple things with treasuries and treasury yields. their moving higher because inflation expectations are going higher. but usually when you have risk aversion and when you have the equity market selloff you see a run to risk aversion and the interest rates,

. >> i believe mark corallo took notes of his own. i believe there's a paper trail, he said i have to write this down. so there's more evidence that could be out there. >>> frank, what i'm seeing in this package is a dream for investigators. one is people finding themselves in scenes like this who know when you're stepping toward obstruction of justice, that would be the mark corallo character who himself has worked at the justice department. so he becomes available as a witness to the investigat invest also these completely inexperienced people like hope hicks who find themselves in these very important scenes, she finds herself in many scenes as being ill equipped to be in many of the rooms she's in. and she's the type of person who doesn't know what she should or shouldn't say in certain situations. and that's a different kind of person for investigators to deal with. how do investigators deal with someone like hope hicks? >> i think what matt said about circular firing squad is spot on. it's a target rich environment. we're lookin

mark was sometimes distant. he could be rude, even abusive to people he deemed his social inferiors. but the summer of 2004, a few months before mark disappeared, seemed to be the real turning point. michelle was pregnant. >> both of us could not have been happier at that moment. those good feelings lasted for a couple weeks. and then i had to go to hawaii for an apa conference that i was presenting at. >> presenting at the american psychological association that july was a prestigious honor for a grad student like michelle. even though mark begged her not to go, she went anyway. >> and things started to change while i was in hawaii. he called me and said lawyers were claiming that he was doing unnecessary surgery and he was afraid it was going to become a class action suit, at which point he jumps ten steps ahead and assumes that his insurance company would settle, his license would be taken away, and everything would be destroyed. >> so his life is flashing before his eyes. >> uh-huh. >> one of those former pa

mark? mark: thank you. botc, up, the otc -- worried about the consequences of rising inflation may have fueled the selloff? this is bloomberg. ♪ ♪ vonnie: time for the global battle of the charts where we look at some of the most telling charts of the day and what they mean for investors. access them on the bloomberg by running the function featured at the bottom of your screen. it will be an excellent battle of the church. -- charts. "rocky" themee after the phillies won the super bowl -- the eagles. your first battle. >> today, i wanted to look at biotech, this is one of the sectors that has in great momentum at the start of the year, approaching record levels, at a fast pace before falling victim to the broader market selloff. we are back to 2016 levels when we saw another market selloff. this is when a political rhetoric heated up. this selloff is creating a a lot of opportunities across the board. small caps. watch this space, especially with m&a expected this year. vonnie: you can see your chart o

this is bloomberg. ♪ mark: live from london, i am mark barton with the european close a matter ma of minutes away. vonnie: from new york, i'm vonnie quinn. call it the silla concealing with only a quarter of positions and jobs in the sector and female lead startups just received 2% of funding from venture capitalists. , theding to the new book industry sabotaged its own highflying a female talent. chang and is emily she joins us now and studio in new york. a fantastic book and a great it., all 260 pages of i feel like we have caring about inequality in silicon valley for a long time. why did you write a book now? emily: i've been covering silicon valley for eight years and men and women would often talk about the sexism, but when you got on camera, no one said what they had to say and it just struck me how this industry could have such a grave inequality. the more i started doing research, the more i realize everybody has an opinion on how we got here, but nobody has the answer. the book pulls together historical, cultural, social, economic forces that led us here. as you mentioned a

this is bloomberg. ♪ mark: live from london, i am mark barton. vonnie: from new york, i'm vonnie quinn. this is "bloomberg markets." lawmakers are attending the passage of every spending bill that would avert a government shutdown tomorrow night. a broader budget bill may be added to the legislation before the senate vote. leaders in both parties say they want to end the cycle of temporary budget measures. key lawmakers are speaking out on the recent stock market selloff. joined by kevin cirilli, chief washington correspondent, live from capitol hill. the president has been tweeting about the stock market. how are lawmakers responding to the market volatility? kevin: president trump tweeting within the last couple of minutes that he thinks a good news for the economy is translating to bad news for stock traders. of course, this all comes at a time in which treasury secretary steven mnuchin taking heat yesterday on capitol hill, testifying before the house financial services committee about the volatility in the market. listen to what he told lawm

>>who is this question mark this is bill. he is a mobile robot. it allows for improved productivity at the factory level. >> what is its function question mark >> he is -- >> what is his function? mints.eliver men's -- >> is he going to run into you me? >> he will not touch you. >> what kind of technology? , i/o --ai it is navigating the map that the user sets forth. to do want to program it something, you teach it to map and then it finds its way around. radius.gree >> >> when you talk about the ai , what does that mean? it, you do notch will navigate it or whether there are other obstacles. >> it lures the best path over repetition. >> so you told to go from point a to point b question mark you don't care how it gets a -- how it gets? >> they can see it is surrounding. this custom payload of top could thatr more applications are disturbing water. these can be used in a factory or hotel environment? . it is helping people with disabilities and take it to their gate for them. >> there is another version we can do now or later. in the hospital, the

mark. mark: julie, thank you. as u.k. prime minister teresa may tries to sell the brexit to china, her secretary is slamming the forecast on believing the e.u. here's what davis said earlier in the house of commons. >> every institution that's tried it has failed. every -- every forecast, every forecast has been made about postreferendum has been wrong. mark: join us is ian shepherdson. joining us from new castle in the u.k. maybe some courses of the u.k. to forecast the effects of brexit on the economy, what do you think? ian: well, it's certainly true that forecast is in immediate catastrophe was wrong, no doubt about that. it's dangerous to think because one forecast is wrong all future forecasts will be wrong. that's a trap davis and some of into exiteers are falling it. we didn't know the exact impact of the referendum. it might be easier to work out what the big picture will be if the u.k. doesn't manage to sign a bunch of trade deals with non-e.u. countries very quickly and that's the most likely outcome. these thi

mark: yes. back to the immigration issue, kevin, mitch mcconnell and chuck schumer saying they want to wrap up the legislation this week. how likely is that looking? see?is the soonest you can kevin: i can seekevin: them getting this done by next week, but the attention will return to the house. that is where this thing is going to get real interesting real fast. vonnie: kevin cirilli, thank you. kevin: thank you. stephenill ahead, schwarzman weighs in on the recent market volatility. this is bloomberg. ♪ mark: this is "bloomberg markets ." i mark barton from london. vonnie: from new york, i'm vonnie quinn. mark: right. it has been a big week for blackstone. john gray was tapped as the steveated heir justo schwarzman. today, steve spoke to bloomberg. he spoke to jason kelly. normal,nk it is pretty and if you look at the world, the developed world will probably girl around 3% -- grow around 3%. % or less..25 multiply that for 12 months, and what do you get? you get stock market performance if y

mark: live from london, i am mark barton. let's talk about credit suisse's buying back one of its exchange traded notes after volatility soared. it is triggering losses for the holders who bet on muted market swings. for joining us. what losses are we looking at for those that held this? that is a question that i cannot answer now. credit suisse is the biggest holder of that note. they hold about 30%. they have come out reassuring the market, we will not have losses on this event. it will not have implications for the p&l. we have not gotten notices from investors say we have lost x y. suisse's announcement that they would buy the bonds back on february 20. the implication will be that people will lose a big fraction of their money. investors,e retail execution all investors. the question is how much have you hedge against possible losses. at the end of the day no one -- at the end of the day someone will have to lose money. for credit suisse we can say that they will not post losses on this trade. mark: what are the stresses

this is bloomberg. ♪ mark: live from london, i'm mark barton. vonnie: i'm vonnie quinn could this is mark. this is the european close on "bloomberg markets." downil: the major averages over 2%. a tremendous amount of volatility following yesterday's big decline. the dow between yesterday and friday had its worst today drop since 2018 -- people don't know what's happening. take a look at it today chart of o-day chart- tw of the dow. this is the russell 2000 over the last year. in just three days, the russell 2000 slides through its 50 day and 100 day and is resting on the 200 day moving average. more selling is likely ahead. not surprisingly,, volatility has spiked superhigh. you will see the huge move up and volatility -- in volatility. the complacency is gone. one reason to think it will continue, the selling pressure, beyond the technicals of the 200 , this is theerages bank of america merrill lynch global financial risk index. 2007, superlowd before the stock market crash of 2008. something similar ahead of the pullback we saw in 2016. this s

mark: thank you. after two weeks of selling off, u.s. stocks could have the best week in five years, back to were we were -- back to where we were when we started. is nick watson of henderson global investors limited. you trimmed your equity exposure in mid-january. have you been adding to it given the recent volatility? >> we have rebuilt those positions we reduced in january. because the end of spring in 2017, you saw a range of asset classes supercharged by positive growth and low inflation. and qe continuing. this year, it felt like they were getting complacent with extremeweather the -- levels of enthusiasm for stocks and we wanted to bank profits. mark: which part of the market are you getting into? >> we think europe is interesting, particularly with the u.s. equity markets. since 2011, earnings growth has been flat in the european market where u.s. has a decent profit margins. some of the selloffs to build by positions in europe and areas such as the u.k. market, ftse 100 has been pretty weak.

. >> then we're with mark wahlberg opening his new l.a. restaurant. >> made eye contact right here. >> then -- ♪ it's a new dawn >> the voice coaches face off. ♪ ♪ it isn't just about vision, it's about care. nobody cares for eyes more than pearle. >>> at the esquire maverick hollywood celebration nate ber ♪ >>> jennifer lawrence looked amazing in her black versace dress while promoting red sparrow. jen got showed out on social media for showing a lot of skin. come on. >> jlaw always says what's on her mind. listen to her response. it's creating silly distractions from real issues. get a grip people. everything you see me wear is my choice. >> good for mer. she's not even that exposed. >> fashion is pain sometimes. >> also january jones had something to say at the cfda runway to red carpetish tv. i asked her about the rumor she's dating nick viall. >> what's going on with the bachelor. the world thinks you're dating. >> do they? >> yeah they do. nick posted this pic which january liked. >> he's super sweet. i'm single. he's a frien

philadelphia around the freezing mark around 7:00 a.m. be careful driving around on the highways and by ways on the overpasses in particular. rain and snow ending fast this morning. reiteration of that point that karen and i are making today. we'll be in the upper 20s throughout the day. sunshine coming back as the day goes on. mid 20s by dinnertime. higherds running ten to than that. this is what it will feel like all day long. you have one issue with precip ending and icy patch around this morning. and windchills in the teens, you want to bundle up for that, karen. >> reporter: all right, dave, let's check on the accident on conshohocken jamming you up on the schuylkill expressway. this is westbound traffic practically at a standstill here. 21 minute ride good sized delay between the accident and the blue route. we have police and penndot on the scene. schuylkill expressway westbound blocking right lane in conshohocken. there you can see the slow speeds, 21 miles per hour as you head westbound on the schuylkill expressway. we have a dis

this is bloomberg. ♪ mark: i am mark crumpton with first wrote news. changes to obamacare will boost premiums to double digits according to the urban institute. obamacare insurance plans will go up and average 18% in 43 states. those are states with no limits unless company heads of coverage the administration is calling for. today marks 25 years since the first terror attack on the world trade center, to 1993 attack killed six people. six suspects were convicted and are in prison, including the accused ringleader, a self-proclaimed 9/11 mastermind. a seventh suspect in the bombing remains at large. oppression is fashionable again and fundamental freedoms are in retreat, those words from the u.n. high commissioner for human rights. who spoke at the human rights council in geneva today and asked why more is a in done to stop human rights abuses around the world. >> when an elected leader blames the jews for having perpetrated the holocaust as recently done in poland and we did this is graceful -- so little attention, the question must be asked, have we

>> mark: whenever you have a stanford man on the roster, things work out well. next week, hubie and i, saturday primetime will be in the bay area. lamarcus aldridge and the spurs taking on the number one team in the nba, the golden state warriors, steph, k.d. at oracle. russell westbrook brought the heat tonight. he had 36, but not quite enough. caldwell-pope and the lakers get a rare win in oklahoma city. folks, your local programming is coming up right here on abc. for hubie brown and doris burke, thanks for watching nba sunday showcase on abc home of the nba finals. so long, everybody. sailing the seas day and night. they knew where they were going, by watching the clouds move in the sky or the way their boats rocked. that's how the waves and stars would speak to them. guide them. sometimes, you can find your way in the world, by getting lost in it. let your legend begin at aulani, a one-of-a-kind disney resort in hawaii ♪ ♪ with the chase mobile app, michaela deprince could pay practically anyone, at any bank, all while performing a grand jetÉ between t

mark: you go online. we used the data, find out how big your house is, we can give you a quote without any questions at all. it is cheaper. we use ai. our expenses are much lower. your price is going to be much lower than it has ever been. margins up and prices down. francine: only the algorithm? mark: it is all about artificial intelligence and big data. we have close to 600 data centers, people that sit down all day building algorithms. that may not sound fun to you, but these guys love it. you get all this massive amounts of data. when you combine that with other distribution, like in china with tencent, despite what the press are saying, things like jpmorgan and berkshire hathaway, which is an insurance company, and amazon, there weren't the first. francine: we will talk about health care later. are you managing to get one customer for all the insurance or all that? mark: then you've got asset management over top of that. for the next decade, what you composite, once they've got all those wrapped toge

i don't want there to be white marks. nothing! there's no dust, there's no marks... oh my god, it's dove! no white marks... ...on a 100 colors dove invisible dry spray, awarded best of beauty by allure. but when we brought our daughter home, that was it. now i have nicoderm cq. the nicoderm cq patch with unique extended release technology helps prevent your urge to smoke all day. it's the best thing that ever happened to me. every great why needs a great how. >>> friday was janet yellin's last day as chair of the federal reser reserve. what's next for her? rita braver sat down with yellin for an exit interview. >> let's see. i have got quite a few going away gifts. >> when we caught up with janet yellin friday the boxes were packed and she was almost out the door. >> i'm ready to go. >> must be bittersweet moment? >> it is a bittersweet moment. i love this job. and the central focus of my life. i enjoyed time with my family outside of work. but the work i do here is the core of my existence. and it's been my identity. >> a big change? >> it will be a big change. >> y

the same way mark outgrew me, this thing should outgrow me. i'm not the right person to do this, but there was not anybody else. this is a form of public service. at least i hope it is. i hope people accept that. if they are worried, read what i have written. think about it. are you addicted? i am, hopelessly so. i can't but help check the thing. i tell people, turn off your notifications, right? think about how you use these products. are they taking over your life? if you are on slack do you want to allow them to browbeat you to having notifications interrupting everything you do. they control you. take your time back. take your self back. these people are billionaires. they don't need our sympathy. they do need our help, but they don't need us rolling over for them. emily: roger mcnamee, long-time tech investor, great to have you. roger: thank you. ♪ ♪ yousef: welcome to the best of "bloomberg markets: middle east," i am yousef gamal el-din. markets went haywire and volatility came roaring back as investors braced for rising interest ra

mark. dip.tuesday, another it will be interesting to see whether or not this continues as the week progresses. in the bloomberg, we see all the sectors higher. tech right behind it. factors.ome of the right now, the rally is helping those factors and as we take a look at the 10 year yield, we points.s up 45 basis that also had an interesting effect on stock, but right now, the 10 year yields their highest of the year. plus, can investors by the dip if we are in the normalization which is likely to continue? this here is the bull market over the last 40 years. -- not just 3%, but really 3.5%. if it happens, there could be more risk. today, certainly a rebound rally. rollout,he white house $1.5dent trump is pledging trillion of investments. joining us now, he is also the cochairman of the global achievement infrastructure initiative. we have some form of proposal. what do you think is critical to unlocking infrastructure investments in the united states question mark >> i'm very encouraged by

so does mark carney. as you pointed out, these forecasts, the fact that they have seen stronger growth this the before they did in forecast on inflation, it's all subject to change depending on what happens with brexit. , -- mark: nejra, great job. results and for some insight into the european bank, top banking executives, talking about the executive first. here have's -- here are some that has spoken. >> yes, i'm positive overall. i'm pretty considered that it will be on the turbulence of the markets. we have good growth prospects in particular in europe. what do we see? a bit of a movement on the longer end of the curve. our expectation is that we will likely see no movement on the shorter end of the curve. in the medium-term, the real economy is stronger, much stronger in europe than in other parts of the world. and in italy, the fundamentals are strong. not only are they looking at demands, but investments. that is the story of fundamentals being strong. joining us now, our europeaneditor for markets

good, i'm glad you're talking about your kids, mark. here is the thing, i was here several years ago talking about facebook's role in this and the arms race for attention. that's the bottom line is the people at the top have to care. so if mark and sheryl sandberg get serious and change some of the practices at facebook and instagram because they own instagram and if the folks who run google and the platforms based on attention economy, if they change that and then the apples and the samsungs change not just change in time but also to dumb people like me how to actually use it properly, you can make major changes next years. but we have to hold their feet to the fire. >> changing the business model? >> look, facebook is an advertising business model, so is google. so they want you to stay there. that's how they make money. but i think it does modify the business model. you know what, society and our kids are more valuable than their business model. >> all right, professor. we have to leave it there.

we're down to the frootionz mark and hold -- freezing mark, hold close to freezing through 10:00. it will be windy with windchills in the mid 20s this afternoon. a quick look at the airport. some folks are coming back from minneapolis, dry out there for the flights landing out there. we have no major delays in any of our big travel destinations, we'll be right back. oa... (straining) i'm okay. unitedhealthcare can help. see a doctor right on your phone, right from your home. is that normal? that's normal for a new baby. and what about him? hey, doc. doctor: that's normal for a new parent. unitedhealthcare. buy one, get one free on select losmall bags of dog food!h! doctor: that's normal for a new parent. plus, get two pails of ty cats litter for $20! great deals, great savings at psmart! for the love of pets. ibut it doesn't always come naturally. this i can do, easily. benefiber® healthy shape is a 100% natural prebiotic fiber that's clinically proven to help me feel fuller longer. benefiber® healthy shape. this i c do! tune into the super bowl many to watch the half-time show.

mark, what can you tell us? focusing on a -- consider focusing on a marketing deadline, they will let the smaller ones fade away to the following year and so they don't put enough attention on the big ones. iphone has been prone to bugs in recent years. emily: why focus on this now versus any other launch? mark: think it comes down to apple's scale. apple has grown in terms of how fromdevices they sell, tens of millions iphones a year, to over 100 million iphones a year. their engineering team has grown from fewer than 100 people to thousands of people around the world. it makes it more difficult to stick to the deadline. things got -- get lost in the development. there is just more opportunity for failure now. they are trying to go back to their origins and focus on the quality that originally differentiated them. emily: michael, what do you make of it? michael: what is most important is 1.3 billion installed base, 1.3 billion people using an iphone today. it is just important to deliver software that is reliab

roger: oh, i do. ♪ ♪ emily: you met mark zuckerberg in 2006. roger: i get a phone call from chris kelly, who is the chief privacy officer, one of the senior executives. he goes, my boss has an existential crisis. i can't tell you what it is. i think you are the right guy to help them solve it. he comes in. 22 years old. it's like march of 2006. emily: two years after facebook was founded. roger: correct. and i think they had $9 million in revenue at that point. cumulative. i'm sitting here and i said, mark, we have never met each other. i need to tell you something before we start. i said if i don't tell you now, you'll never believe me later. you will just assume i am trying to appeal to you. i think you have created the most important company since google, that within a few years you will be bigger than google is today. the secret is you solved the problem of identity and take privacy seriously. those two values are powerful. i said the problem is that if it has not happened already, either microsoft or yahoo! will offer $1 billion for your c