1 00:00:03,160 --> 00:00:07,720 Speaker 1: Broadcasting live to New York, Bloomberg to Washington, d C, 2 00:00:07,960 --> 00:00:13,240 Speaker 1: Bloo to Boston, Bloomberg twelve hundreds to San Francisco, Bloomberg 3 00:00:14,080 --> 00:00:17,680 Speaker 1: to the Country series at JAMN Channel one, and around 4 00:00:17,720 --> 00:00:21,360 Speaker 1: the globe the Bloomberg Radio plus Bloomberg dot Com. This 5 00:00:21,760 --> 00:00:27,080 Speaker 1: is Bloomberg Surveillance. Good morning an on Wall Street. I'm 6 00:00:27,080 --> 00:00:30,200 Speaker 1: Michael McKee along with Tom Keenson News. Just crossing the 7 00:00:30,240 --> 00:00:33,600 Speaker 1: Bloomberg Professional terminal. The Shanda Group is buying a nine 8 00:00:33,600 --> 00:00:38,160 Speaker 1: point nine percent stake in leg Mason from Trian. Get 9 00:00:38,200 --> 00:00:41,040 Speaker 1: some more information on that as the morning goes on. 10 00:00:41,560 --> 00:00:45,760 Speaker 1: Earning season began with a disappointment. Alca shares right now 11 00:00:45,800 --> 00:00:49,640 Speaker 1: trading down by three point six percent. The biggest US 12 00:00:49,680 --> 00:00:53,640 Speaker 1: A limited producer cutting forecast for its largest manufacturing unit, 13 00:00:54,000 --> 00:00:59,320 Speaker 1: Juniper Networks right now down nine point six percent. First 14 00:00:59,360 --> 00:01:02,480 Speaker 1: quarter profit revenue falling short of forecast, sluggish demand for 15 00:01:02,720 --> 00:01:06,400 Speaker 1: networking equipment and over in Europe. L v m H 16 00:01:06,400 --> 00:01:08,920 Speaker 1: fell to a two month low. Has recovered a little bit, 17 00:01:08,959 --> 00:01:13,920 Speaker 1: but still down three uh The luxury goods maker reporting 18 00:01:14,000 --> 00:01:18,640 Speaker 1: lower than expected revenue growth as well more earnings. Says 19 00:01:18,720 --> 00:01:22,080 Speaker 1: the week goes on tomorrow, we start with the financials. 20 00:01:22,600 --> 00:01:25,600 Speaker 1: Michael Barr now joins US with the latest World and 21 00:01:26,120 --> 00:01:29,680 Speaker 1: National Michael Mine. In about a half an hour, President 22 00:01:29,680 --> 00:01:32,360 Speaker 1: Obama's pick to be on the Supreme Court will meet 23 00:01:32,440 --> 00:01:35,680 Speaker 1: with send A Judiciary Chairman Chuck grass Lely for breakfast. 24 00:01:36,120 --> 00:01:39,200 Speaker 1: Grassley says he's meeting with Mary Garland to explain to 25 00:01:39,360 --> 00:01:42,640 Speaker 1: him why the Senate won't move forward with this confirmation. 26 00:01:42,680 --> 00:01:46,520 Speaker 1: Hearing Republicans field the next president should determine the nominee. 27 00:01:46,840 --> 00:01:50,680 Speaker 1: Republican presidential front runner Donald Trump is viewed negatively by 28 00:01:50,680 --> 00:01:54,240 Speaker 1: almost seventy of married women in a potential general election. 29 00:01:54,640 --> 00:01:57,760 Speaker 1: That's according to a new Bloomberg pole. It also shows 30 00:01:57,760 --> 00:02:00,880 Speaker 1: that sixty of married women saying the way Trump talks 31 00:02:00,920 --> 00:02:05,320 Speaker 1: about women is offensive. The Insurance Institute for Highway Safety 32 00:02:05,640 --> 00:02:07,760 Speaker 1: is out with this results. In the latest front end 33 00:02:07,800 --> 00:02:12,480 Speaker 1: crash tests for pickup trucks or Arborlez vice president of 34 00:02:12,480 --> 00:02:15,160 Speaker 1: the Institute, says one model stood out out of all 35 00:02:15,200 --> 00:02:17,919 Speaker 1: the trucks we tested. The four F one fifty is 36 00:02:17,960 --> 00:02:20,680 Speaker 1: the one that offers the best crash protection along with 37 00:02:20,760 --> 00:02:24,200 Speaker 1: technology that can help warn drivers of imminent frontal crashes. 38 00:02:24,480 --> 00:02:27,359 Speaker 1: Global News twenty four hours a day powered by our 39 00:02:27,520 --> 00:02:30,920 Speaker 1: twenty four hundred journalists more than one hundred fifty news 40 00:02:30,919 --> 00:02:34,520 Speaker 1: bureaus from around the world. Michael Barr, Thank you, Michael. 41 00:02:34,520 --> 00:02:37,600 Speaker 1: Time now for the Bloomberg NBC Sports update. Here's John Stasha. 42 00:02:37,960 --> 00:02:40,480 Speaker 1: Thanks by seasons only a week. Oh, but Mets fans 43 00:02:40,480 --> 00:02:43,240 Speaker 1: getting impatient third straight home loss to a team everyone 44 00:02:43,280 --> 00:02:45,480 Speaker 1: expects to finish lower of the standings After getting beaten 45 00:02:45,520 --> 00:02:48,320 Speaker 1: twice by the Phillies, the Marlins teed off on Stephen 46 00:02:48,360 --> 00:02:50,639 Speaker 1: matt his first start of the season. He failed to 47 00:02:50,639 --> 00:02:53,720 Speaker 1: finish the second any Miami scored seven times went on 48 00:02:53,760 --> 00:02:55,520 Speaker 1: to win ten to three. Should be a good pitching 49 00:02:55,560 --> 00:02:59,440 Speaker 1: matchup tonight Noah Syndergard the Marlins a Jose Fernandez Yankees 50 00:02:59,440 --> 00:03:01,519 Speaker 1: of an Austin's Saturday. They'll start Master Hero to knock 51 00:03:01,560 --> 00:03:04,359 Speaker 1: at tonight in Toronto. Strange game and Brooklyn the next 52 00:03:04,440 --> 00:03:06,320 Speaker 1: fell blind twenty to up. They and then actually took 53 00:03:06,360 --> 00:03:11,160 Speaker 1: the lead. Still lost to Washington one eleven sixty lost 54 00:03:11,200 --> 00:03:13,040 Speaker 1: with one game to go. The Knicks end their season 55 00:03:13,120 --> 00:03:16,320 Speaker 1: tonight at Indiana, trying to avoid a fiftieth defeat. After 56 00:03:16,360 --> 00:03:19,160 Speaker 1: earlier reports the Knicks mindset was to bring back Kurt 57 00:03:19,280 --> 00:03:22,000 Speaker 1: Rambiss coach next year. There's now where they're considering hiring 58 00:03:22,280 --> 00:03:25,280 Speaker 1: David Blatt, who got fired Arder this year in Cleveland. 59 00:03:25,320 --> 00:03:28,600 Speaker 1: Stanley Cup playoffs begin tomorrow in Pittsburgh for the Rangers, 60 00:03:28,639 --> 00:03:30,760 Speaker 1: who are unlikely to have captain Ryan mcdunno due to 61 00:03:30,760 --> 00:03:32,760 Speaker 1: the hand injury has not been ruled out for the 62 00:03:32,880 --> 00:03:35,400 Speaker 1: entire series. Blue Shirts have beating the Penguins each the 63 00:03:35,480 --> 00:03:38,360 Speaker 1: last two playoffs, but Pittsburgh just won fourteen out of 64 00:03:38,400 --> 00:03:42,400 Speaker 1: fifteen games. The Islanders have their game one Thursday at Florida. 65 00:03:42,520 --> 00:03:46,800 Speaker 1: With the Bloomberg NBC Sports Update, I'm John Stashalla, Thank 66 00:03:46,840 --> 00:03:49,640 Speaker 1: you John. Of course Tom Keen is gonna be rooting 67 00:03:49,680 --> 00:03:53,040 Speaker 1: Pittsburgh on wearing the Black and Gold during the playoffs, 68 00:03:53,040 --> 00:03:55,320 Speaker 1: since the Black and Gold I usually root for the 69 00:03:55,320 --> 00:03:58,240 Speaker 1: Bruins there the playoffs this year, and I'm gonna mention 70 00:03:58,280 --> 00:04:01,480 Speaker 1: that I'm gonna adapt my son team the Washington Capitals. 71 00:04:01,480 --> 00:04:05,760 Speaker 1: We'll see if Alexander Ovechkin can finally get a ring. 72 00:04:06,840 --> 00:04:09,760 Speaker 1: Right now, stock six hundred up a point a tenth 73 00:04:09,800 --> 00:04:13,800 Speaker 1: of a percent as European markets continue to move higher. 74 00:04:17,560 --> 00:04:21,440 Speaker 1: This is Bloomberg surveillance sign Michael McKee along with tom Key, 75 00:04:21,520 --> 00:04:25,680 Speaker 1: not just European markets. Higher US features are higher. SMP 76 00:04:25,800 --> 00:04:27,839 Speaker 1: emning features off there high of the morning, but they're 77 00:04:27,839 --> 00:04:31,040 Speaker 1: still up six points three tenths. Dow emating features are 78 00:04:31,120 --> 00:04:34,920 Speaker 1: up thirty two points by two tenths of eight percent 79 00:04:35,160 --> 00:04:37,720 Speaker 1: on the day tiping off of the Bloomberg n j 80 00:04:37,880 --> 00:04:39,760 Speaker 1: I T STAM report brought to you by New Jersey 81 00:04:39,839 --> 00:04:42,599 Speaker 1: Institute of Technology. Investing more than a hundred and ten 82 00:04:42,640 --> 00:04:45,800 Speaker 1: million dollars a year, it applied research to solve problems 83 00:04:45,839 --> 00:04:49,279 Speaker 1: and improve life. Learn more at Stories of Innovation dot 84 00:04:49,360 --> 00:04:52,040 Speaker 1: n j I T dot E d U. Here is 85 00:04:52,320 --> 00:04:55,320 Speaker 1: John Tuck. Yeah, good morning, Michael. Here's what's making news 86 00:04:55,360 --> 00:04:58,840 Speaker 1: in science, technology, andreineering, and math this morning. Another sign 87 00:04:58,880 --> 00:05:01,440 Speaker 1: this could be a challenge of year for personal computer makers, 88 00:05:01,720 --> 00:05:05,919 Speaker 1: Gardner is reporting shipments slid nine point six percent to 89 00:05:06,000 --> 00:05:09,120 Speaker 1: their lowest quarterly total since two thousand seven in the 90 00:05:09,120 --> 00:05:11,880 Speaker 1: first three months of this year. Del the throw to 91 00:05:12,120 --> 00:05:14,680 Speaker 1: HP is the top PC seller in the US for 92 00:05:14,680 --> 00:05:19,080 Speaker 1: the first quarter. That's something Gartner says hasn't happened this decade. 93 00:05:19,640 --> 00:05:24,440 Speaker 1: More than retired NFL players tested with advanced scanning technology 94 00:05:24,839 --> 00:05:28,720 Speaker 1: showed signs of traumatic brain injury a much higher rate 95 00:05:28,760 --> 00:05:31,920 Speaker 1: than in the general population. This research, presented at a 96 00:05:31,960 --> 00:05:34,520 Speaker 1: meeting of the American Academy of Neurology, is one of 97 00:05:34,560 --> 00:05:37,760 Speaker 1: the first to provide objective evidence of traumatic brain injury 98 00:05:37,760 --> 00:05:41,960 Speaker 1: and a large sample of NFL veterans while they aren't living. 99 00:05:42,600 --> 00:05:46,800 Speaker 1: Russian President Vladimir Putin is a highlighting Russia's cooperation with 100 00:05:46,880 --> 00:05:50,400 Speaker 1: the US in space. This comes despite all the difficulties 101 00:05:50,400 --> 00:05:53,880 Speaker 1: new countries are facing on Earth. Putin spoke today by 102 00:05:54,000 --> 00:05:58,279 Speaker 1: video link with astronauts from both countries aboard the International 103 00:05:58,360 --> 00:06:02,400 Speaker 1: Space Station, and today Russia is actually celebrating what's called 104 00:06:02,520 --> 00:06:07,400 Speaker 1: Cosmonauts Day. It was April twelve, nineteen Urga Karen orbit 105 00:06:07,400 --> 00:06:09,800 Speaker 1: of the Earth to become the first man in space. 106 00:06:10,200 --> 00:06:13,760 Speaker 1: That is this morning's bluebird m G. I. T. Staver report. Mike, 107 00:06:14,279 --> 00:06:16,560 Speaker 1: thank you very much well. For years. The book the 108 00:06:16,800 --> 00:06:20,160 Speaker 1: book anybody needed to have if you were going to Cuba. 109 00:06:20,200 --> 00:06:23,320 Speaker 1: It is called Cuba What Everyone Needs to Know. Julius 110 00:06:23,320 --> 00:06:25,560 Speaker 1: White wrote it. She's a senior research fellow at the 111 00:06:25,880 --> 00:06:29,599 Speaker 1: Lyndon Johnson School of Public Affairs at the University of Texas, Austin. 112 00:06:30,040 --> 00:06:34,200 Speaker 1: The initial publication two thousand nine updated in two thousand 113 00:06:34,200 --> 00:06:37,200 Speaker 1: and twelve and coming out in a month a new 114 00:06:37,320 --> 00:06:40,400 Speaker 1: update because there is a lot more to know now 115 00:06:41,160 --> 00:06:45,000 Speaker 1: about Cuba. Julia joins us now, and I guess the 116 00:06:45,080 --> 00:06:47,920 Speaker 1: kind of question is you had to do a very 117 00:06:47,920 --> 00:06:52,640 Speaker 1: big rewrite here as Cuba opens up to the United States. 118 00:06:53,520 --> 00:06:56,520 Speaker 1: Good morning, Tom's great to be here. Well, it wasn't 119 00:06:56,560 --> 00:06:59,719 Speaker 1: so big, but it was the magnitude of what she 120 00:07:00,320 --> 00:07:04,040 Speaker 1: was enormous. I only had to cover two thousand thirteen 121 00:07:04,120 --> 00:07:06,360 Speaker 1: fourteen and up until the present. But of course, in 122 00:07:06,640 --> 00:07:10,280 Speaker 1: at the end of December two thousand fourteen, Barack Obama 123 00:07:10,280 --> 00:07:15,440 Speaker 1: and Row Castro went on virtual simulcast in their respective 124 00:07:15,480 --> 00:07:18,920 Speaker 1: capitals and announced to their public that they had had 125 00:07:18,960 --> 00:07:20,880 Speaker 1: a year and a half of secret talks, and we're 126 00:07:20,920 --> 00:07:24,040 Speaker 1: going to normalize relations, take Cuba off the terrorist list, 127 00:07:24,160 --> 00:07:29,960 Speaker 1: open embassies, start commercial relations, and move forward after more 128 00:07:30,000 --> 00:07:31,880 Speaker 1: than fifty years. It was a very big deal, and 129 00:07:31,880 --> 00:07:34,080 Speaker 1: I was really excited to be able to bring out 130 00:07:34,080 --> 00:07:37,080 Speaker 1: a new edition and write about the backstory and what's 131 00:07:37,200 --> 00:07:40,840 Speaker 1: happened since, including President Obama's reason trip to Cuba. Well, 132 00:07:40,880 --> 00:07:43,200 Speaker 1: let's start with let's pick out of what you just said. 133 00:07:43,200 --> 00:07:47,640 Speaker 1: They're the established commercial relations. How is that going. It's 134 00:07:47,680 --> 00:07:50,800 Speaker 1: my understanding it's a little bit slower than perhaps people 135 00:07:50,800 --> 00:07:55,560 Speaker 1: on both sides of the straits had hoped. Well, I 136 00:07:55,640 --> 00:07:59,160 Speaker 1: think it's it is going slowly. It's going slowly because 137 00:07:59,360 --> 00:08:01,440 Speaker 1: you know, after half a century of saying no to 138 00:08:01,480 --> 00:08:04,680 Speaker 1: one another on the economic front, principally with the American 139 00:08:04,760 --> 00:08:09,000 Speaker 1: sanctions regime towards Cuba and then Cuba Zone ticket of 140 00:08:09,760 --> 00:08:14,400 Speaker 1: laws and regulations UH to have a socialist economy and 141 00:08:14,600 --> 00:08:18,360 Speaker 1: direct that economy to everywhere. But the United States taken 142 00:08:18,400 --> 00:08:22,320 Speaker 1: a long time to unpack and untile of those not 143 00:08:22,840 --> 00:08:25,960 Speaker 1: and it's still happening. I mean the officially the embargo. Legally, 144 00:08:26,000 --> 00:08:29,160 Speaker 1: the embargo is still in place, but the President has 145 00:08:29,240 --> 00:08:31,360 Speaker 1: used a lot of his executive authority to try to 146 00:08:31,720 --> 00:08:36,720 Speaker 1: open up some fairly large UH holes uh in in 147 00:08:36,880 --> 00:08:41,000 Speaker 1: the sanctions regime. It's taken time because the bureaucracy in Washington, 148 00:08:41,160 --> 00:08:45,280 Speaker 1: principally in the Treasury Department but elsewhere really has had 149 00:08:45,320 --> 00:08:48,280 Speaker 1: to learn its own laws and figure out how to 150 00:08:48,320 --> 00:08:52,800 Speaker 1: amend them. And Cuba has had to sort of instruct 151 00:08:52,880 --> 00:08:57,199 Speaker 1: Washington on its own. So those bureaucratic connections have taken 152 00:08:57,240 --> 00:09:01,040 Speaker 1: some time. Um, and you know, not recompany in the 153 00:09:01,120 --> 00:09:04,440 Speaker 1: United States has the span with their tolerance to try 154 00:09:04,440 --> 00:09:09,080 Speaker 1: to navigate um cloth bureaucracies and sets of regulations in 155 00:09:09,160 --> 00:09:12,400 Speaker 1: both capital Well, the first thing, the first thing that 156 00:09:12,480 --> 00:09:15,600 Speaker 1: obviously is going to get going is tourism. It's a 157 00:09:15,600 --> 00:09:18,280 Speaker 1: lot easier for Americans to go to Cuba. Now, what 158 00:09:18,360 --> 00:09:21,360 Speaker 1: are they going to find? Everybody has a romantic vision 159 00:09:21,440 --> 00:09:25,600 Speaker 1: of what Cuba is like. Well, it's true the travel 160 00:09:25,640 --> 00:09:28,360 Speaker 1: ban has all but been listed, so two of them 161 00:09:28,400 --> 00:09:31,920 Speaker 1: is so prohibited under the statute. But almost all Americans 162 00:09:31,920 --> 00:09:34,440 Speaker 1: can find a legal way to go there now. And 163 00:09:34,880 --> 00:09:38,080 Speaker 1: you know, they can't technically go to beach travel, but 164 00:09:38,240 --> 00:09:40,439 Speaker 1: they can do everything else if they stay within the law. 165 00:09:40,480 --> 00:09:45,880 Speaker 1: And they're going to find a beautiful country that's relatively 166 00:09:46,040 --> 00:09:50,679 Speaker 1: undeveloped compared to any other country in the Caribbean. And 167 00:09:50,760 --> 00:09:54,080 Speaker 1: they're going to sign a lot of um rundown infrastructure 168 00:09:54,080 --> 00:09:56,840 Speaker 1: that needs to be renovated that doesn't really meet the 169 00:09:56,840 --> 00:09:59,040 Speaker 1: standards of what they're used to when traveling in the 170 00:09:59,080 --> 00:10:01,720 Speaker 1: country or else where. And of course, you know, if 171 00:10:01,720 --> 00:10:06,920 Speaker 1: you've been to Cuba, your listeners have you know that uh, culturally, politically, socially, 172 00:10:07,480 --> 00:10:12,520 Speaker 1: Cuba is a incredibly interesting place. It's a difficult place 173 00:10:12,600 --> 00:10:17,240 Speaker 1: to uh feel that one knows about solidly, but a 174 00:10:17,320 --> 00:10:20,280 Speaker 1: very accessible place at the same time. Cubans but I 175 00:10:20,320 --> 00:10:22,240 Speaker 1: mean this sounds like a truism, but Cubans are in 176 00:10:22,320 --> 00:10:27,480 Speaker 1: fact extremely friendly and extremely friendly toward Americans. Julius, why, 177 00:10:27,640 --> 00:10:30,760 Speaker 1: thank you very much? Her book is Cuba what everybody 178 00:10:30,920 --> 00:10:34,720 Speaker 1: needs to know. The latest edition is coming out next month, 179 00:10:34,800 --> 00:10:36,920 Speaker 1: and it's definitely something you're gonna want to pick up 180 00:10:37,360 --> 00:10:39,800 Speaker 1: if you're heading to Cuba. And who's not going to 181 00:10:39,840 --> 00:10:42,680 Speaker 1: go to Cuba these days? Now that after so many years, 182 00:10:42,760 --> 00:10:46,760 Speaker 1: the island is open to Americans, not just tourists, but 183 00:10:46,880 --> 00:10:50,240 Speaker 1: to business. If you're, as Julius is, patient enough to 184 00:10:50,640 --> 00:10:55,760 Speaker 1: negotiate a deal, Futures are higher, bonds are lower. This 185 00:10:55,800 --> 00:11:02,360 Speaker 1: is Bloomberg Radio worldwide. Bloomberg Surveillance is brought to by 186 00:11:02,400 --> 00:11:04,600 Speaker 1: Ancient Block and Ancient named the best accounting firm in 187 00:11:04,600 --> 00:11:06,920 Speaker 1: North America for the sixth year in a row by 188 00:11:06,960 --> 00:11:15,199 Speaker 1: hedgeweek dot com.