1 00:00:03,200 --> 00:00:06,560 Speaker 1: Global business news twenty four hours a day at Bloomberg 2 00:00:06,640 --> 00:00:09,720 Speaker 1: dot com, the Radio plus Mobile Act and on your radio. 3 00:00:10,000 --> 00:00:14,160 Speaker 1: This is a Bloomberg Business Flash from Bloomberg World Headquarters. 4 00:00:14,200 --> 00:00:17,240 Speaker 1: I'm Charlie. Howbout stocks climb to a record? This update 5 00:00:17,239 --> 00:00:19,720 Speaker 1: brought to you by Sector Spider et f S. Why 6 00:00:19,760 --> 00:00:22,040 Speaker 1: buy a single stock when you can invest in the 7 00:00:22,200 --> 00:00:25,520 Speaker 1: entire sector? Visit Sector sp t r S dot com 8 00:00:25,600 --> 00:00:29,760 Speaker 1: or call six Sector e t F. Just getting word 9 00:00:29,800 --> 00:00:34,040 Speaker 1: from Berkshire Hathaway second quarter operating EPs twenty eight oh 10 00:00:34,040 --> 00:00:38,159 Speaker 1: three estimates for twenty nine ten. More details on Berkshire 11 00:00:38,200 --> 00:00:42,120 Speaker 1: halfway as they've become available. SMP five hundred index climb 12 00:00:42,200 --> 00:00:45,600 Speaker 1: to our record today after the better than expected jobs report. 13 00:00:46,080 --> 00:00:49,600 Speaker 1: SMP five hundred index heading into the weekend of two 14 00:00:49,680 --> 00:00:53,440 Speaker 1: up eighteen points again today of nine tenths of one percent. 15 00:00:53,880 --> 00:00:57,520 Speaker 1: Down Industrial is up one points to eighteen thousand, five 16 00:00:57,600 --> 00:01:00,240 Speaker 1: hundred forty three, a gain there of one percent, and 17 00:01:00,400 --> 00:01:03,480 Speaker 1: naz Dak up fifty four points to fifty twenty one, 18 00:01:03,720 --> 00:01:06,639 Speaker 1: a gain of one point one percent. Gold down twenty 19 00:01:06,640 --> 00:01:09,280 Speaker 1: five dollars the ounce to thirteen thirties seven, a drop 20 00:01:09,319 --> 00:01:11,880 Speaker 1: there of one point eight percent. The ten year down 21 00:01:11,880 --> 00:01:15,000 Speaker 1: twenty four thirty seconds, the yield one point five eight percent, 22 00:01:15,319 --> 00:01:18,399 Speaker 1: and crude Oil West Texas Intermediate CREWE down point one 23 00:01:18,440 --> 00:01:23,039 Speaker 1: percent to eight barrel. I'm Charlie Public. That's a Bloomberg 24 00:01:23,080 --> 00:01:27,760 Speaker 1: Business flash. You're listening to taking Stock with Bim Box 25 00:01:27,800 --> 00:01:32,200 Speaker 1: and Kathleen Hayes on Bloomberg Radio. Since winning its bid 26 00:01:32,240 --> 00:01:36,400 Speaker 1: for the sixteen Olympic Games seven years ago, Brazil's Reo 27 00:01:36,480 --> 00:01:39,679 Speaker 1: de Janeiro has undergone a construction boom. It includes new 28 00:01:39,720 --> 00:01:44,319 Speaker 1: sports venues, subway connections, and more infrastructure, but it has 29 00:01:44,360 --> 00:01:48,600 Speaker 1: also been marred by political scandal and a suffering economy. 30 00:01:48,960 --> 00:01:51,240 Speaker 1: Here to tell us more is Jonathan Levin. He is 31 00:01:51,320 --> 00:01:55,600 Speaker 1: Latin America m and a reporter for Bloomberg News. He 32 00:01:55,640 --> 00:01:59,600 Speaker 1: can be followed on Twitter at Jonathan J Levin and 33 00:01:59,640 --> 00:02:02,840 Speaker 1: he justus from Rio de Janeiro. Jonathan, thanks for being 34 00:02:02,880 --> 00:02:06,680 Speaker 1: with us tell us about the games and what has 35 00:02:06,840 --> 00:02:12,160 Speaker 1: marred the opening programs so far. Kept him good afternoon. 36 00:02:12,720 --> 00:02:16,160 Speaker 1: So um, you know, as you mentioned uh earlier in 37 00:02:16,160 --> 00:02:20,880 Speaker 1: your program, the people have been talking a lot about 38 00:02:22,040 --> 00:02:25,720 Speaker 1: the week economy and some of the fallout from that, right, 39 00:02:26,040 --> 00:02:32,040 Speaker 1: I mean Rio de Janeiro is a population and already uh, 40 00:02:32,240 --> 00:02:35,440 Speaker 1: sort of delicate population. And so when the when the 41 00:02:35,480 --> 00:02:40,600 Speaker 1: economy dips into recession like this, uh, you know you're 42 00:02:40,680 --> 00:02:43,880 Speaker 1: you're you're looking at some more desperate, desperate people in 43 00:02:43,919 --> 00:02:47,200 Speaker 1: the streets. Um. You know, there's there's been a slight 44 00:02:47,320 --> 00:02:52,520 Speaker 1: uptick in petty crime around the region, and some of 45 00:02:52,560 --> 00:02:56,760 Speaker 1: that has actually affected, um, the athletes and the games themselves. 46 00:02:57,600 --> 00:03:01,560 Speaker 1: One of the examples we saw, um i think yesterday 47 00:03:01,639 --> 00:03:05,000 Speaker 1: or the day before, the Chinese basketball team was that 48 00:03:05,160 --> 00:03:07,320 Speaker 1: was actually caught in the crossfire of a of a 49 00:03:07,360 --> 00:03:10,800 Speaker 1: shootout near one of the slums. Fortunately nobody was hurt, 50 00:03:10,919 --> 00:03:13,400 Speaker 1: but not that not the sort of headline that that 51 00:03:13,440 --> 00:03:16,520 Speaker 1: you want to see a few days before the opening ceremony, 52 00:03:16,840 --> 00:03:20,600 Speaker 1: hardly Now. One of the flagship transportation efforts this has 53 00:03:20,639 --> 00:03:23,440 Speaker 1: to do with Rio building a new subway extension. It 54 00:03:23,520 --> 00:03:27,000 Speaker 1: was supposed to link popular beach areas with the neighborhood 55 00:03:27,000 --> 00:03:29,640 Speaker 1: with the Olympic Park is located. Can you tell us 56 00:03:29,639 --> 00:03:35,320 Speaker 1: more about that? Yeah, I mean, so the controversy um 57 00:03:35,600 --> 00:03:38,040 Speaker 1: erupted when people realize that they weren't going to be 58 00:03:38,080 --> 00:03:41,520 Speaker 1: able to actually open this subway line until literally a 59 00:03:41,560 --> 00:03:44,920 Speaker 1: few days before the games. Uh. The good news is 60 00:03:44,960 --> 00:03:48,080 Speaker 1: that it is now open today and people are actually 61 00:03:48,240 --> 00:03:50,720 Speaker 1: using it. They haven't opened it for the general public. 62 00:03:51,240 --> 00:03:53,160 Speaker 1: It's only open for the use of what they called 63 00:03:53,200 --> 00:03:58,240 Speaker 1: the Olympic family, right, so athletes themselves, trainers, members of 64 00:03:58,280 --> 00:04:03,280 Speaker 1: the media. Um. But so far, so good. Um, insofar 65 00:04:03,440 --> 00:04:05,360 Speaker 1: as the people that need to get to the Olympic 66 00:04:05,480 --> 00:04:09,960 Speaker 1: Village for events are able to do so using that metro. Jonathan, 67 00:04:10,080 --> 00:04:14,680 Speaker 1: what about Zeka, the Zeka virus and efforts to prevent 68 00:04:14,800 --> 00:04:21,320 Speaker 1: greater infection. Yeah, so, you know, obviously it created a 69 00:04:21,360 --> 00:04:23,000 Speaker 1: lot of concern in the in the run up to 70 00:04:23,040 --> 00:04:25,920 Speaker 1: the Games. The interesting thing to remember, though, is that 71 00:04:26,960 --> 00:04:30,040 Speaker 1: we are in winter here in here in South America. 72 00:04:30,160 --> 00:04:34,000 Speaker 1: It's uh, it's particularly cold. It's it's even colder than 73 00:04:34,080 --> 00:04:39,080 Speaker 1: a lot of winters right now. And health officials believe 74 00:04:39,200 --> 00:04:41,520 Speaker 1: that that in a number of other factors, their their 75 00:04:41,640 --> 00:04:45,080 Speaker 1: their own, um, their own efforts to cut down on 76 00:04:45,080 --> 00:04:48,560 Speaker 1: the mosquito population have worked, and they are claiming that 77 00:04:48,600 --> 00:04:51,560 Speaker 1: the chances of an athlete or a tourist actually getting 78 00:04:51,640 --> 00:04:55,719 Speaker 1: ZEKEA are close to zero. Um. So, I mean that's 79 00:04:55,760 --> 00:04:58,400 Speaker 1: interesting to bear in mind. The Zeka scare has has 80 00:04:58,440 --> 00:05:03,000 Speaker 1: also created opportunities for some companies. One of the interesting 81 00:05:03,040 --> 00:05:07,400 Speaker 1: things is off has has an important role around around 82 00:05:07,480 --> 00:05:10,520 Speaker 1: the games. You know when when I picked up my 83 00:05:10,520 --> 00:05:13,920 Speaker 1: my press pass down at the Olympic village a few 84 00:05:13,960 --> 00:05:16,320 Speaker 1: days ago, they give you a backpack with with some 85 00:05:16,440 --> 00:05:18,880 Speaker 1: swag in it, and one of the things is a 86 00:05:18,880 --> 00:05:22,560 Speaker 1: a an Off bug spray. Right, So off is getting 87 00:05:22,560 --> 00:05:26,719 Speaker 1: its brand all over all over the Olympic Games. Jonathan 88 00:05:26,800 --> 00:05:29,039 Speaker 1: tell us about the security that has been put in 89 00:05:29,080 --> 00:05:32,880 Speaker 1: place for the athletes and for the spectators. Sure, so 90 00:05:33,880 --> 00:05:37,640 Speaker 1: five thousand security personnel. Those are members of the armed 91 00:05:37,680 --> 00:05:43,360 Speaker 1: forces and police. And uh, you know, it feels unlike 92 00:05:43,440 --> 00:05:47,480 Speaker 1: Rio de Janeiro ever has Uh there there has been 93 00:05:47,520 --> 00:05:53,279 Speaker 1: a pointed absence in UH important tourist regions of Rio 94 00:05:53,360 --> 00:05:56,960 Speaker 1: de Janeiro in the years passed since I since I've 95 00:05:57,000 --> 00:06:00,440 Speaker 1: lived here. But it feels completely and utterly utterly different 96 00:06:00,680 --> 00:06:04,960 Speaker 1: since about two weeks ago. Uh, everywhere that there is 97 00:06:05,000 --> 00:06:11,479 Speaker 1: a stadium or uh an event or tourists gathering. Uh 98 00:06:11,560 --> 00:06:16,720 Speaker 1: you see you see folks walking around in camouflage carrying 99 00:06:16,760 --> 00:06:22,839 Speaker 1: heavy duty weaponry. So UM, at least visually, UM this 100 00:06:23,560 --> 00:06:28,159 Speaker 1: deployment should we hope scare off, you know, the kinds 101 00:06:28,160 --> 00:06:30,520 Speaker 1: of crime that have afflicted the city in the past. 102 00:06:30,960 --> 00:06:34,600 Speaker 1: What did the citizens of Readisionneiro think about the Olympics? 103 00:06:36,040 --> 00:06:41,880 Speaker 1: Yeah so um interesting question. Obviously, the the the mindset 104 00:06:41,880 --> 00:06:44,359 Speaker 1: has changed quite a bit since two thousand nine. We 105 00:06:44,400 --> 00:06:49,160 Speaker 1: have this image of Brazilian celebrating, uh, the winning of 106 00:06:49,279 --> 00:06:54,800 Speaker 1: the of the Olympic Games today. Uh. We had we 107 00:06:54,920 --> 00:06:59,080 Speaker 1: had a we had a survey that came out recently 108 00:06:59,120 --> 00:07:04,159 Speaker 1: suggesting that about half of of Brazilians are not happy 109 00:07:04,200 --> 00:07:06,400 Speaker 1: to have have the Games here. And a lot of 110 00:07:06,440 --> 00:07:08,520 Speaker 1: it I think is just about the optics. You know, 111 00:07:08,600 --> 00:07:11,960 Speaker 1: the country is going through a deep economic recession. A 112 00:07:11,960 --> 00:07:15,559 Speaker 1: lot of people are out of their jobs, and when 113 00:07:15,920 --> 00:07:18,040 Speaker 1: billions and billions of dollars of being spent on a 114 00:07:18,080 --> 00:07:21,200 Speaker 1: mega event like this, uh, it doesn't it doesn't look 115 00:07:21,280 --> 00:07:24,600 Speaker 1: right to some folks. Thanks very much. Jonathan Levin, Latin 116 00:07:24,640 --> 00:07:29,080 Speaker 1: America mergers and acquisitions reporter for Bloomberg News, joining us 117 00:07:29,080 --> 00:07:31,920 Speaker 1: from the site of the Olympics and Rio de Janeiro, Brazil. 118 00:07:32,360 --> 00:07:36,120 Speaker 1: He can be followed on Twitter at Jonathan J. Levin. 119 00:07:36,560 --> 00:07:39,520 Speaker 1: Thanks for joining me on taking stock. I'm pim Fox. 120 00:07:39,760 --> 00:07:47,600 Speaker 1: This is Bloomberg Coming up Bloomberg Laws. Brought to you 121 00:07:47,600 --> 00:07:49,760 Speaker 1: by T two Computing, a new kind of I T 122 00:07:49,920 --> 00:07:53,840 Speaker 1: solutions company for workflow, mobility, and infrastructure. Let them explain 123 00:07:53,840 --> 00:07:56,400 Speaker 1: how their expertise can help you gain greater business value. 124 00:07:56,480 --> 00:07:59,120 Speaker 1: Visit T two computing dot com for more information.