Speaker 1: Bloomberg eleven three O. Taking Stock continues broadcasting live to
Speaker 1: New York, Bloomberg eleventh, Yo to Washington, d C, Bloomberg
Speaker 1: to Boston, Bloomberg Tell to San Francisco, Bloomberg nine to
Speaker 1: the country, Suis Exam General one nineteen and around the
Speaker 1: globe the Bloomberg Radio plus Athene Boomberg dot Com. This
Speaker 1: is taking Stock. I'm Kathleen Hayes at taking Stock live
Speaker 1: from the two sixteen US Tennis Open or at the
Speaker 1: U s t A Billy jen King National Tennis Center,
Speaker 1: Bleshing Meadow, Corona Park, Queens, New York City. This is
Speaker 1: a premier event for tennis and for the region every
Speaker 1: single year. We're gonna be speaking shortly to two of
Speaker 1: our sports business team's finest, Scott stash Nick and Evan
Speaker 1: Evan Nooby Williams, to talk about, certainly to an extent,
Speaker 1: who's here, some of the top players, but also the
Speaker 1: sponsors that are here, the business that's here, the money
Speaker 1: that this very important event generates. I'm Caffeine Hayes. My
Speaker 1: call host Pim Fox is on vacation. And then uh
Speaker 1: later in the half hour, Bill Stone from P and C.
Speaker 1: A lot of people from a financial services industry come
Speaker 1: out to the open. He's here, he's going to talk
Speaker 1: to us about stocks. Let's get to Charlie Pellett back
Speaker 1: at Bloomberg World headquarters. He's got a Bloomberg business flash
Speaker 1: and I thank you very much, Kathleen Hayes. People with
Speaker 1: knowledge of the matter say TPG is among potential bidders
Speaker 1: for Intel's computer security unit McAfee. The people who asked
Speaker 1: not to be named say the private equity firm has
Speaker 1: held preliminary discussions with Intel about a deal that could
Speaker 1: value McAfee and as much as three billion dollars shares
Speaker 1: of Intel. They're up now by two tenths of long percent.
Speaker 1: Stocks are falling amid tumbling crude prices and sluggish manufacturing data,
Speaker 1: spooking investors before key payroll data tomorrow morning that may
Speaker 1: provide an indication about the direction of interest rates. ALIL
Speaker 1: now falling to the lowest in almost three weeks after
Speaker 1: US government data today showed crude supplies at the highest
Speaker 1: seasonal level in more than twenty years. Stephen Short is
Speaker 1: president of the Short Group, and he sees the oil
Speaker 1: slide continuing. We're at a com of the year that
Speaker 1: the peak season recruit oil demand is over, to peak
Speaker 1: season for gasline demand is over. So with this Labor
Speaker 1: Day weekend, we now transition into the fall. And this
Speaker 1: is the maintenance season for refineries. So refinery demand for
Speaker 1: crude oil in the United States and in other key
Speaker 1: markets in the Northern Hemisphere will drop off significantly over
Speaker 1: the next two months. And right now where you have
Speaker 1: West Texas, Eno Media crude at Fort barrel down three
Speaker 1: point four percent, rank crew down three point two percent.
Speaker 1: And now let's look at some of the other stories
Speaker 1: making news. Charlie, thank you from the Bloomberg News Room.
Speaker 1: I Mark Crumpton. Donald Trump says if he becomes president,
Speaker 1: he'll rebuild America's military and reform the veterans administration. Trump
Speaker 1: spoke this morning at the American Legion Conference in Cincinnati.
Speaker 1: O Hi, we will be united by our common culture,
Speaker 1: values and principles, becoming one American nation. Hillary Clinton addressed
Speaker 1: the conference yesterday. Ahead of this weekend's G twenty summit
Speaker 1: in China, President Obama is calling for a global effort
Speaker 1: to fight climate change. President speaking at the annual Lake
Speaker 1: to House Summit in Nevada, says places like this nurture
Speaker 1: and restore the soul, and we want to make sure
Speaker 1: that's there for our kids too. To keep these waters
Speaker 1: crystal clear, to keep the air as pure as that happens,
Speaker 1: to keep alive tiles spirit. President Obama later flew to
Speaker 1: Hawaii for another conference on conservation. The President told the
Speaker 1: audience he would push China to take further steps to
Speaker 1: protect the environment. Michael Barr Bloomberg Radio. In South Carolina,
Speaker 1: a federal judge is holding a closed hearing on evidence
Speaker 1: and Dylan Rooth's trial in the Charleston church shootings. Is
Speaker 1: accused of killing nine black parishioners in June of today,
Speaker 1: the judge ruled and open hearing could compromise roughs ability
Speaker 1: to receive a fair trial. The Grammys could be making
Speaker 1: a comeback in the city. The Big Apple hasn't hosted
Speaker 1: the awards and more than a dozen years, but plans
Speaker 1: are reportedly in the works to bring them back. The
Speaker 1: Post reports the city wants to see the Grammy's return
Speaker 1: for the show's sixtieth anniversary. In ten local news twenty
Speaker 1: four hours a day, powered by more than twenty hundred
Speaker 1: journalists and analysts in over one hundred twenty countries. I'm
Speaker 1: More Crumpton. This is Bloomberg, Charlie, and we thank you,
Speaker 1: and again recapping a mixed picture of for US Equities
Speaker 1: SMP down three a drop of two tenths of one percent.
Speaker 1: I'm Charlie Pellett. That's a bloom Bird business flash. You're
Speaker 1: listening to taking Stock with Pim Box and Kathleen Hayes
Speaker 1: on Bloomberg Radio. I'm Kafee Hayes. My co host Pim
Speaker 1: Fox is on vacation, so I solo have the pleasure
Speaker 1: of being live a the U s Tennis Open, Flushing Meadows,
Speaker 1: grown apart Queens, one of the premiers Grand Slams of
Speaker 1: the year in fact in but here probably toos it
Speaker 1: is the premier Grand Slam tournament in tennis. Very interesting afternoon.
Speaker 1: The rain had cleared up, now it's pouring. All court
Speaker 1: play is closed except under central court. That retractable roof
Speaker 1: just finished for US Open is being used again as
Speaker 1: Andy Murray, uh, the number two seeds struggles to move
Speaker 1: ahead and fortunately that was not stopped by rain and
Speaker 1: has not stopped. Taking stock with my producer Sam Langa
Speaker 1: might Field producer Charlie Bohmer we go on, joined by
Speaker 1: two more of Bloomberg's finest and that would be Scott
Speaker 1: Slashnik and Evan Nobi Williams, Rob Bloomberg Business of Sports Team, gentlemen, welcome. Hello. Well,
Speaker 1: you know we're gonna talk about business and returns. You
Speaker 1: sure could say this retractable roof maybe is already paid
Speaker 1: for itself this year the star of the show. They
Speaker 1: made it the star of the show before the tournament.
Speaker 1: They wanted everybody to know, we've caught up to some
Speaker 1: of the others. We've got our roof. Although I was
Speaker 1: there on test day when the roof opened and then
Speaker 1: Billy Jean King hit the button once and it didn't close.
Speaker 1: She hit the button twice and it didn't close. So
Speaker 1: I don't want to say that they were rooting for Rain,
Speaker 1: but the chance to show it off and have the
Speaker 1: broadcasters say walk but give us seven minutes and we'll
Speaker 1: be playing again. This has been the star of the
Speaker 1: show this year. This is playing out perfectly. They made
Speaker 1: a big point to say that Nadal hit the first
Speaker 1: balls underneath the new roof. You know, yesterday played out
Speaker 1: exactly how they wanted till he was quoted. I mean
Speaker 1: he seems to be kind of thrilled that he was
Speaker 1: the first guy to win on Center Court under the
Speaker 1: closed roof. But you know what other players saying, I'm
Speaker 1: here that they they're glad that it's less windy. But
Speaker 1: there's some problems with shadows, and there's some problems with noise.
Speaker 1: And you wouldn't realize if you're not a big tennis
Speaker 1: fan that love these top players. They listen to the
Speaker 1: ball that they can hear the spin of the ball. Yeah,
Speaker 1: that's why they like quiet when they're playing. They actually
Speaker 1: can hear the sound tells them what kind of spin
Speaker 1: is on the ball. But Evan and I were watching
Speaker 1: on TV the other day and the first thing we
Speaker 1: said when we glanced up was look at that weirdly
Speaker 1: shaped shadow right down the service line. So the ball
Speaker 1: is in the sun, in the shade, in the sun,
Speaker 1: all in one service. That cannot make the players happy.
Speaker 1: And then sure enough they did complain about it afterwards.
Speaker 1: And let's not forget this was a decision that was
Speaker 1: made not for the players, obviously, this is a decision
Speaker 1: made for the people that carry the TV rights, who
Speaker 1: were upset that the Men's Final was being played on
Speaker 1: the next Monday every year, seemingly because rain was keeping
Speaker 1: forcing play to be pushed forward. Yeah, it's harder to sell.
Speaker 1: You sell ads for a Sunday prime time sporting event
Speaker 1: and then rain happens and it gets pushed to Monday
Speaker 1: and a third of the people are watching. That makes
Speaker 1: that makes advertisers unhappy, it makes TV networks unhappy. Letters
Speaker 1: around this place, around the fairground a little bit exactly,
Speaker 1: But you would think that's kind of Aren't the players
Speaker 1: happy if they can just get it over on Sunday
Speaker 1: for the men or whoever's not rained out that day?
Speaker 1: I guess they're used to it in so many of
Speaker 1: the tournaments they play, because they play over the world
Speaker 1: at all weather. Sure. Yeah, I think the advantages to
Speaker 1: the players you mentioned there's there's less wind, which is
Speaker 1: a big thing. Uh be. We saw the Men's final
Speaker 1: last year there's a three hour rain delay. I'm sure
Speaker 1: players like the idea that they know that that's never
Speaker 1: gonna happen again. On the biggest matches, and let's remember
Speaker 1: who plays the big court. These are not your lesser
Speaker 1: known players. I mean, these are the stars of your game,
Speaker 1: and this is nothing more than entertainment, whether it be
Speaker 1: the n b A or baseball. This is all star driven.
Speaker 1: So when he's not here right now, but if Federer
Speaker 1: and Nadal and Murray and Serena, if they're complaining, you've
Speaker 1: got a problem. You have to keep them happy. So
Speaker 1: what kind of money are we talking about out here?
Speaker 1: For the sponsors, what kind of money they put in,
Speaker 1: what kind of money they put out the advertisers. It's huge.
Speaker 1: I mean, the just let's think about the schedule. There's
Speaker 1: it's two weeks to play here. You know, it's not
Speaker 1: a it's not a one day sporting event. It's two
Speaker 1: weeks of play. You think about the clientele that comes
Speaker 1: out here, A lot of people from the upper echelons
Speaker 1: of the New York social scene. For example. They make
Speaker 1: a point every night and there to show the most
Speaker 1: famous people that are in attendance. It's become hey, it's
Speaker 1: a sporting event, fa B. It's also just a scene
Speaker 1: to go to and that's the best possible thing for
Speaker 1: an event to have, and it's great for sponsors. I mean,
Speaker 1: let's just look around right now from our advantage point.
Speaker 1: Right now, I mean we're outside the main stadium. I
Speaker 1: look over to my left and I see the Heineken lounge.
Speaker 1: I can see JP Morgan Chase load is everywhere. I
Speaker 1: mean even if I was in a helicopter, maybe I
Speaker 1: could see it. I've got two Mercedes vehicle sitting right here.
Speaker 1: Citizen citizen clot branding exactly. This is about reaching a
Speaker 1: certain consumer. Uh. None of these companies operating a vacuum.
Speaker 1: This is a piece of their total puzzle. But it's
Speaker 1: it's an event in New York. It gets primetime, major coverage,
Speaker 1: and I mean it all goes down to even on
Speaker 1: the net. You will have the the JP Morgan Chase
Speaker 1: logo on the net, and those two even changed throughout
Speaker 1: the matches. So I mean it's a piece of the
Speaker 1: puzzle and how they choose to utilize that. The women's
Speaker 1: winner every year goes to the JP Morgan Chase headquarters
Speaker 1: and chats with executives. So it's just a piece of
Speaker 1: the puzzle. But all four majors have their own little
Speaker 1: thing about them. In the US, opens thing is the
Speaker 1: glitz and glamor of New York and the skyline and
Speaker 1: the in the night games, all of that. This is
Speaker 1: exactly what the event in terms of sponsor strategy or
Speaker 1: how much they get out of this. How does this
Speaker 1: stack up to something like a football super Bowl, the
Speaker 1: NBA playoffs and see a march on what I just said.
Speaker 1: I don't think you weigh one versus the other. I
Speaker 1: mean you measure R O Y and your totality. How
Speaker 1: do you use your sports in totality? Not just one thing? Okay, guys,
Speaker 1: I gotta put on the spot you watched in a
Speaker 1: severe year or the Open. You have to watch it
Speaker 1: all year long. So wh who's gonna win On the
Speaker 1: men's side, Man, who's gonna win it? I have no
Speaker 1: idea who's gonna win it? Certainly Nadal looks like he's
Speaker 1: healthy and and looks great great yesterday. Djokovic not having
Speaker 1: to play a second round match I think certainly helps
Speaker 1: him with all the both physical on and off the
Speaker 1: court issues he's been having. Um, certainly they're the two favorites.
Speaker 1: Is the women's Slam dunk Serena as close to us
Speaker 1: can be. But you didn't win the last major, so
Speaker 1: it's always somebody new. See if they can topple Serena.
Speaker 1: That's always the game here at seven Open. Williams part
Speaker 1: of our Bloomberg Business of Sports team. They'll be around
Speaker 1: tomorrow wiping them down on some more matches. I'm Kathleen Hayes.
Speaker 1: We're live with the US Open. This is Bloomberg Live
Speaker 1: at the US Open. A lot of the big shots
Speaker 1: from Wall Street. We're gonna be speaking to Bill Stone,
Speaker 1: p n C Bank. You're gonna take a look at stocks.
Speaker 1: Auto sales were a week. The Fed is going to
Speaker 1: take a look at that job support tomorrow. This is
Speaker 1: Bloomberg