Speaker 1: Broadcasting live to New York Bloomberg eleven, Brio to Washington,
Speaker 1: d C. Bloomber to Boston Bloomberg Well under It, to
Speaker 1: San Francisco Bloomberg nine to the Country's Zooeus Exam General
Speaker 1: one ninet and around the globe the Bloomberg Radio plus
Speaker 1: Zapp and Bloomberg got gone. This is taking stock. Coming
Speaker 1: up on taking stock, a look at North Carolina and discrimination.
Speaker 1: The North Carolina Governor Pat mccruary saying yesterday that the
Speaker 1: sweeping anti LGBT bill that he signed into law was
Speaker 1: never about discriminating against people based on their sexual orientation
Speaker 1: or gender identity. Well, it may not have been his intention,
Speaker 1: but many businesses, including PayPal Holdings and Deutsche Bank, have
Speaker 1: said that they are not going to expand will not
Speaker 1: include businesses in their future plans. Right now in North Carolina,
Speaker 1: we'll be talking about this. Uh. Coming up on taking stock,
Speaker 1: first to Catherine Countering the Bloomberg Newsroom. Thank you, Kathleen,
Speaker 1: and Bloomber. Taking stock is brought to by Sector Spider
Speaker 1: e t S. Why by a single stock when you
Speaker 1: can invest in the entire sector? Visit sector spdrs dot
Speaker 1: com or call one six six sector et S stocks
Speaker 1: are declining. The S and P five hundred is headed
Speaker 1: for a three week low. Mixed economic reports are weighing
Speaker 1: on the market. One report showed service companies expanded in
Speaker 1: April at the fastest pace in four months. Another from
Speaker 1: the Favrell's Processor a DP showed companies higher fewer workers
Speaker 1: in April than estimated. Jason Shanker, chief economists at Prestige Economics,
Speaker 1: says that a DP number doesn't surprise him because he
Speaker 1: thinks the labor markets will start slowing. The problem is
Speaker 1: that the mix of jobs is shifting away from household
Speaker 1: formation jobs. You've had a lot of WS is an
Speaker 1: oil and gas and manufacturing jobs, and so the job
Speaker 1: that you're you know you're filling in with are not
Speaker 1: sustainable I think for new household formation. And I think
Speaker 1: that's one of the reasons in March is housing starts,
Speaker 1: building permits, and new home sales all go down, even
Speaker 1: though the back into the yield. Kurt Felt, we check
Speaker 1: the markets every fifteen minutes throughout the trading day of
Speaker 1: Bloomberg Radio. Down industrial average is down one hundred five
Speaker 1: points six tents of a percent is trading at seventeen thousand,
Speaker 1: six hundred forty six SMP five hundred, down thirteen points
Speaker 1: six tenths of a percent of two thousand fifty then
Speaker 1: has backed down thirty five points three quarters of a
Speaker 1: percent to forty seven twenty seven. West Texas intermediate crude
Speaker 1: oil up twenty cents of barrel to eight five spot
Speaker 1: gold down ten dollars ten cent c nce at twelve
Speaker 1: seventy ten year treasury of five thirty seconds with the
Speaker 1: yield of one point seven seven percent. And now if
Speaker 1: for a look at some of the other stories were
Speaker 1: following today. I'm Bloomberg Radio. Thank you Catherine from the
Speaker 1: Bloomberg newsroom. I'm Ramie in essentio. This news update is
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Speaker 1: awarded suv ever. The Grand Cherokee continues to raise the
Speaker 1: bar with its luxurious interior and legendary four by four capability.
Speaker 1: Drive one at your local G dealer today. John Kasick,
Speaker 1: the last man standing in Donald Trump's path to the
Speaker 1: Republican nomination, will end his campaign later today, making Trump
Speaker 1: the party's presumptive nominee. Two people close to the campaign
Speaker 1: tell Bloomberg News the Ohio governor, will suspend his campaign.
Speaker 1: In a speech at five pm Wall Street Time in Columbus, Ohio,
Speaker 1: Donald Trump is now focused on November's general election. Trump
Speaker 1: tells ABC News that he is not worried about a
Speaker 1: new CNN poll showing Hillary Clinton leading him by more
Speaker 1: than ten points. There was seventeen people that I had
Speaker 1: to win against, and now it's going to be Hillary.
Speaker 1: So we'll see what happens. I mean, it's going to
Speaker 1: be I think a very interesting rate. Democrat Bernie Sanders
Speaker 1: says the fight is not over after beating Hillary Clinton
Speaker 1: in Indiana. A university in Ohio has agreed to pay
Speaker 1: seven hundred twelve thousand dollars to a former football player
Speaker 1: who says he had concussions that led to a permanent
Speaker 1: brain injury. Former offensive lineman Cody Silk alleged bowling Green
Speaker 1: State Universe, these coaches and medical staff did not pull
Speaker 1: him from practice right after he suffer concussions. And New
Speaker 1: York's iconic Stonewall Inn, where the modern gay rights movement
Speaker 1: took root, will become the first national monument honoring the
Speaker 1: history of gays and lesbians in the United States. That's
Speaker 1: under a proposal. President Obama is preparing to approve global
Speaker 1: news twenty four hours a day, powered by our journalists
Speaker 1: in more than one hundred fifty news bureaus around the world.
Speaker 1: From the Bloomberg Newsroom, I'm Ramie in essentio. Thank you,
Speaker 1: and now let's get a quick update of the equity benchmark.
Speaker 1: Stale Industrial averages down ninety eight points at seventeen thousand,
Speaker 1: sixty two s and p f I founded down twelve
Speaker 1: point at two thousand fifty one. The nastack is down
Speaker 1: thirty six points at forty seven seven. And that's a
Speaker 1: Bloomberg business flash. You're listening to Taking Stock with Kathleen
Speaker 1: Hays and Pim Box on Bloomberg Radio. Lord John Brown
Speaker 1: is the executive chairman of l One Energy. He's the
Speaker 1: former chief the executive of BP. But he is much
Speaker 1: more than just those two titles. He is also the
Speaker 1: author of a book, The Glass Closet, Why Coming Out
Speaker 1: Is Good for Business. He is also the co author
Speaker 1: of Connect and Lord John Brown joins us now from London.
Speaker 1: Lord Brown, thank you very much for being with us.
Speaker 1: Thank you for having me. I want to begin by
Speaker 1: just stating that you have spoken recently about the events
Speaker 1: regarding your departure from BP, and also why you chose
Speaker 1: to stay in the closet for much of your life,
Speaker 1: and also the way in which the world has changed
Speaker 1: in recent years with regard to LGBT issues. Uh, I
Speaker 1: wondering if you could speak to your particular experience and
Speaker 1: perhaps connected to what is going on currently in North
Speaker 1: Carolina many. I'm sure you know the news about PayPal
Speaker 1: and Deutsche Bank saying that's not where they want to
Speaker 1: be expanding absolutely well. I, as you know, I was.
Speaker 1: I'm a child of the forties, and when I was
Speaker 1: growing up, being gay was first illegal here in the
Speaker 1: UK and secondly not a way you could really do
Speaker 1: anything in society. But more importantly, I had a mother
Speaker 1: who was a survivor from Auschwitz, and she taught me
Speaker 1: a couple of lessons which lived with me and kept
Speaker 1: me in the closet. The first was never tell anyone
Speaker 1: a secret because they are used against you. And secondly,
Speaker 1: never be an identified member of minority, because when the
Speaker 1: going gets tough, the majority always had the minority. And
Speaker 1: I think it's that point that I'd actually pick out
Speaker 1: for North Carolina and one or two other places in
Speaker 1: the US. Clearly, when the majority feel that the under
Speaker 1: threatened anywhere at all, majorities tend to turn on minorities.
Speaker 1: Lord Brown and interviewing. When your book first came out,
Speaker 1: it's a great book, and it's a very uh it's
Speaker 1: almost a management book in some ways, because a very
Speaker 1: passionate argument for being your authentic self at work. And
Speaker 1: I want to talk about that. But in regards the
Speaker 1: specific question of North Carolina, this legislation the government governor
Speaker 1: now claiming had nothing to do with being anti gay
Speaker 1: or transcender. It had to do with privacy. Are there
Speaker 1: cultural shifts that need to be respected or do people
Speaker 1: just have to realize they've got to get on board
Speaker 1: To a large extent, A lot of this to me
Speaker 1: seems to be generational. But you know, the younger generation
Speaker 1: is much more accepting of differences when it comes to gender,
Speaker 1: raise so many things. Older generations did not grow up
Speaker 1: this way. They're less so I think that is true.
Speaker 1: There were many different standards of behavior, if you will,
Speaker 1: and what was regarded as acceptable and unacceptable in the past,
Speaker 1: and indeed succeeding generations have changed that over time. To me,
Speaker 1: the most important saying that people have I believe everywhere
Speaker 1: in the world trying to struggle with is how to
Speaker 1: be how to include people, how to bring them in
Speaker 1: rather than push them away exclude them. In business, this
Speaker 1: is one of the most important things you have to do,
Speaker 1: whether it is with the team you're building, or whether
Speaker 1: it's customers or communities you're working with. And the reasons
Speaker 1: for that is inclusive teams. Inclusive businesses actually work better,
Speaker 1: they make more money, they make higher profits that can
Speaker 1: be proved by studies. Uh. And that because they're including
Speaker 1: people and they're passionately giving them some passion to go forward,
Speaker 1: rather than making them stand outside a team. So I
Speaker 1: think that is beginning to change. I am aside be concerned.
Speaker 1: I have to say with many young people who come
Speaker 1: into corporate life while they've been openly gay at university,
Speaker 1: they go straight back into the closset when they come
Speaker 1: into business because they feel that it's an item which
Speaker 1: might get into the way of getting the way of
Speaker 1: their advancement. Lord Brown, you were chief executive a BP
Speaker 1: from to two thousand seven. You have advised five prime
Speaker 1: ministers and built a reputation as a leader um in
Speaker 1: doing in doing all those things and then writing this book,
Speaker 1: Have there been any reaction from people who you thought
Speaker 1: were friends who became even better friends to you, or
Speaker 1: people that then reacted in a way that you thought
Speaker 1: you were surprised by. The curious thing I think to
Speaker 1: me was when I came out, I actually thought that
Speaker 1: I'd lose most of my friends, I'd got lose respect
Speaker 1: in business, people would cross the street to avoid me,
Speaker 1: and actually the reverse happened. I had a vast amount
Speaker 1: of support, and over the period from two thousand and seven,
Speaker 1: I've been making new and different friends, people who want
Speaker 1: a debate not only issues to do with LGBT inclusion,
Speaker 1: but also their impact on human rights and the rights
Speaker 1: of people to be themselves in societies which are very complex,
Speaker 1: not only the US and Canada and the Europe and
Speaker 1: the UK, but also around the world. And so it's
Speaker 1: it's something quite different has happened, and I think they
Speaker 1: will do respect people being themselves. Thank you very much
Speaker 1: for being yourself with us. Lord John Brown, executive chairman
Speaker 1: of l One Energy, form A, chief executive of BP,
Speaker 1: the author of The Glass Closet. While coming out is
Speaker 1: good for business, you're listening to taking stark, I'm pim
Speaker 1: Fox My co host Kathleen Hayes, and This is Bloomberg
Speaker 1: Radio coming up on taking stock. Roger mcmeee, founding partner
Speaker 1: of the venture capital firm Elevation Partners, talks about Facebook, Apple,
Speaker 1: and cannabis.