Speaker 1: Broadcasting live to New York, Bloomberg even to Washington, d C.
Speaker 1: Bloomberg to Boston, Bloomberg twelve hundreds to San Francisco, Bloomberg
Speaker 1: to the Country Channel one, and around the globe. The
Speaker 1: Bloomberg Radio Plus happened. Bloomberg dot Com. This is Bloomberg Surveillance.
Speaker 1: Good morning at seven thirty on Wall Street and Michael
Speaker 1: McKee along with Tom Keene, lots of news out there
Speaker 1: this morning. The latest news. Twitter gets the rights to
Speaker 1: stream NFL games on Thursday night. What does that mean
Speaker 1: for Twitter? Well, investors at the moment think it's good news.
Speaker 1: The stocks up two percent, but we don't know what
Speaker 1: they paid for it, so we shall see. Alegan shares,
Speaker 1: on the other hand, are lower by one percent. The
Speaker 1: new wills to limit the tax cutting power of corporate
Speaker 1: inversions from Treasury might put the merger between Fiser and
Speaker 1: Elegant in jeopardy, analysts say back. Analysts cutting projections for
Speaker 1: Goldman Sachs again, lopping cents off the average estament for
Speaker 1: Golden Sachs adjusted earnings for share over the past four weeks.
Speaker 1: The pre share profit now forecast to tumble from a
Speaker 1: year earlier to three dollars and thirty one Sex and
Speaker 1: Disney shares down two point three. Thomas Staggs Air apparent
Speaker 1: to CEO Bob Iger unexpectedly announcing his departure yesterday's succession
Speaker 1: at the world's largest entertainment company. Now we could say,
Speaker 1: in disarray. Now let's check in with Michael bar and
Speaker 1: get the latest world national headlines. Fighter, Mike, thank you
Speaker 1: very much. Voters go to the polls today for the
Speaker 1: Wisconsin and Republican and Democratic primaries. Republican Ted Cruz is
Speaker 1: aiming to clean up in Milwaukee. John Kasik has been
Speaker 1: focusing on madisone, and experts believe Donald Trump will do
Speaker 1: well in the northern part of the state. Hillary Clinton's
Speaker 1: lead in the Democratic delegated coality is commanding, but rival
Speaker 1: Bernie Sanders is leading in polling in Wisconsin. Mourners will
Speaker 1: gather to day to remember a Virginia state trooper who
Speaker 1: was killed by a gunman at a Richmond Greyhound bus station.
Speaker 1: Funerova Trooper Chad Dermeyer will be held this morning in Hampton.
Speaker 1: The U. S. Supremem Court has unanimously ruled that states
Speaker 1: can count everyone, not just eligible voters, in drawing voting districts.
Speaker 1: The court stopped short of saying that states must use
Speaker 1: total population. Decision rejected the challenge from Texas voters that
Speaker 1: it could have deluded the voting power of urban democrats
Speaker 1: to the benefit of rural Republicans. Global News twenty four
Speaker 1: hours a day, powered by our journalists. I'm Michael Barr, Mike.
Speaker 1: Thank you, Michael Penn now for the Bloomberg NBC Sports Update.
Speaker 1: John Statue, are you look as tired as Tom Keene
Speaker 1: staying up all night to watch that game? Yeah? That
Speaker 1: was worth the enough for though. My championships rare in
Speaker 1: Philadelphia and even rare. A championship game decided with zeros
Speaker 1: on the clock and the ball in the air last
Speaker 1: night in Houston, just after North Carolina's Marcus Page tied
Speaker 1: the n C Double A final with a three pointer
Speaker 1: with a very high degree of difficult he was looking
Speaker 1: like overtime. Instead, Villanova answered at half part with three
Speaker 1: seconds bright Art d I Canna flips to take it
Speaker 1: free cost with one to call, arguably the greatest finish
Speaker 1: to a championship game in Villanova seventy seven, North Carolina
Speaker 1: seventy four. Rangers in the playoffs sixth raight year. Finally
Speaker 1: clinted in the third try four to win at Columbus.
Speaker 1: Islanders close to kneel in their birth down five to
Speaker 1: win over Tampa Bay. After the rain out, it will
Speaker 1: be chilly with the Yankees and Astros set to go
Speaker 1: today for the opener to Stadium. The Mets play this
Speaker 1: safternoon in Kansas City. With the Bloomberg NBC Sports Update,
Speaker 1: I'm John Stave Jenner. Thank you, John Well. Right now
Speaker 1: we are looking at Twitter shares, the NFL rights going
Speaker 1: to Twitter for Thursday nights streaming. Twitter shares now up
Speaker 1: to play two percent. But we're keeping any on news
Speaker 1: from Twitter as to what they paid for this, whether
Speaker 1: they can actually make any money on it. You're listening
Speaker 1: to Bloomberg Surveillance. I'm Michael McKay with Tom Keating. This
Speaker 1: is Bloomberg Radio worldwide, and this is Bloomberg Surveillance. On
Speaker 1: a day when there is some renewed pessimism in the markets,
Speaker 1: all of a sudden, h the second quarter gets underway
Speaker 1: much the same as the first quarter did, with stocks
Speaker 1: falling around the world. SMP futures in the US off
Speaker 1: fourteen points seven tenths of a percent down. Futures are
Speaker 1: down a hundred and four points six tenths of a percent.
Speaker 1: In Europe, it's a six point drop for the stock
Speaker 1: six hundred. They're off one point seven percent. Time now
Speaker 1: for the Bloomberg nj I T STEM Report, brought to
Speaker 1: you by New Jersey Institute of Technology, investing more than
Speaker 1: a hundred and ten million dollars a year and applied
Speaker 1: research to solve problems that improve life. Learn more at
Speaker 1: of Stories of Innovation dot m j I T dot DU.
Speaker 1: Here's Baba Michael, thanks very much, and here's what's making
Speaker 1: news in science, technology, engineering and math and more on
Speaker 1: that touchdown scored by Twitter. According to a person familiar
Speaker 1: with the that of the company is one a deal
Speaker 1: to show Thursday night football National League games online, the
Speaker 1: NFL opening its field so called cord cutters, leaving the
Speaker 1: cable arena in favor of online video streaming. A person
Speaker 1: familiar with the matter had told Bloomberg that Facebook had
Speaker 1: ended its football streaming bid. That person had said Facebook
Speaker 1: likes its live videos to be commercial free and boxed
Speaker 1: at the NFL's traditional advertising model. Of course, Twitter has
Speaker 1: its Periscope live streaming Salesforce dot Com is acquiring meta
Speaker 1: Mind and artificial intelligence startup that specializes in deep learning services,
Speaker 1: which trains networks of computers to mimic the human brains
Speaker 1: ability to recognize and analyze pictures or text without explicit instructions.
Speaker 1: The company says the acquisition will help Salesforce offer AI
Speaker 1: cape of abilities to automate and personalized customer support, marketing,
Speaker 1: and many other business processes. And Toyota is investing five
Speaker 1: and a half million dollars in a collaboration with Microsoft.
Speaker 1: The carmaker says it plans to use data science through
Speaker 1: Microsoft's Azure cloud technology to develop services that helped to
Speaker 1: humanize the driving experience and, according to a statement, quote
Speaker 1: help free our customers from the tyranny of technology. And
Speaker 1: that's this morning's Bloomberg n j I T STEM report. Michael,
Speaker 1: not sure what that means, tyranny of technology. It means
Speaker 1: it means don't pitch back to me right now when
Speaker 1: I'm busy tweeting. Okay, it's that tyranny of technology. Bot
Speaker 1: thank you very much. Well, it is the data of
Speaker 1: the Wisconsin primary, and we may see some changes in
Speaker 1: the outlook for the presidential field where right now we
Speaker 1: have you know, it looks like the Republicans are unsettled
Speaker 1: and the Democrats are going with Hillary Clinton. But we
Speaker 1: lc John Malden of All the Economics keeping a close
Speaker 1: eye on all things political. He has produced a series
Speaker 1: of letters called the Open Letter to the next President
Speaker 1: on the challenges they face and what they should do.
Speaker 1: And I want to focus and we only have a
Speaker 1: few minutes unfortunately today, but on your suggestion to the
Speaker 1: president for domestic policy here and you have two ideas.
Speaker 1: One reform the corporate tax code, which of course is
Speaker 1: not rocket science for a lot of politicians. But too
Speaker 1: you're talking about if we see an economic economic downturn,
Speaker 1: basically the Fed should turn to helicopter money. It's not
Speaker 1: exactly helicopter money. What we've got is four trillion dollars
Speaker 1: sitting on the balance sheet of the Federal Reserve. It's
Speaker 1: sitting there doing nothing. And what will happen, as you know,
Speaker 1: and by the way, I know this for many of
Speaker 1: my conservative colleagues is heresy. But the chances that the
Speaker 1: next Federal Reserve after a downturn in a recession will
Speaker 1: give us que and probably negative rate. So we'll have
Speaker 1: another trillion dollars another two trillion of QUE that will
Speaker 1: do exactly what the last quee did, which is pretty
Speaker 1: much nothing. So I'm saying that the new president should
Speaker 1: come in sit down with the heads of Congress and said, guys,
Speaker 1: I want one amendment to the Federal Reserve Act. I
Speaker 1: don't want to revisit it. I don't want to get
Speaker 1: in depth and it just give me this one and
Speaker 1: allow the Federal Reserve to issue one pent forty year
Speaker 1: bonds for infrastructure construction. In fact, allow them as those
Speaker 1: bonds are starting to roll off now, um, I mean
Speaker 1: because they've got Jenny Mays and Treasure said, allow them
Speaker 1: to start buying them now. So it's a preemptive que.
Speaker 1: We're not going to increase the balance sheet of the
Speaker 1: Federal Reserve because we're just going to modify it. So
Speaker 1: let's see, I mean, to million dollars is two three
Speaker 1: million jobs minimum. That changes the economic dynamics. Otherwise, the
Speaker 1: next president is probably going to see a recession, and
Speaker 1: as we know, getting out of recessions and getting a
Speaker 1: recovery is a difficult process. So I think the next
Speaker 1: president is better off avoiding it. And you only do
Speaker 1: that with some massive stimulus. So let's do something for
Speaker 1: our children, which is um infrastructure that they'll actually have
Speaker 1: twenty years. It will make us more competitive and we
Speaker 1: get all these jobs. One minute to the break, you
Speaker 1: want to cut corporate taxes by a significant amount, big, Chuck,
Speaker 1: let's let's go bigger, go home, But no deductions for
Speaker 1: anything and on all your foreign earnings. So I mean,
Speaker 1: there's no point at that point of not reversing these
Speaker 1: corporate inversions because now companies can come back get cheaper.
Speaker 1: Tack is here and we'll actually get a lot more,
Speaker 1: especially if you get rid of the I think it's
Speaker 1: thirty four hundred little tax preferences. No, no, no, let's
Speaker 1: get rid of all of the lobbyists that because they
Speaker 1: won't be lobbying for tax preferences. And I mean I'm
Speaker 1: including even being from Texas, I'm including oil depletion allowances.
Speaker 1: Everything goes okay, All right. John Maldon from Allden Economics
Speaker 1: with us, thank you for coming by today. Um, we
Speaker 1: are gonna be talking more politics in a moment with
Speaker 1: Chuck Todd of NBC News on this Wisconsin primary day
Speaker 1: right now. Uh, they're talking about victories by Ted Cruz
Speaker 1: and Bernie Sanders. Let's see how Chuck sees it coming
Speaker 1: up and maybe asking him about what the possibilities of
Speaker 1: some of John's ideas getting through Congress at the White
Speaker 1: House would be. You know, let's say to a Bloomberg
Speaker 1: radio right now, futures are lower. Bloomberg Javans. Spot you
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