1
00:00:03,200 --> 00:00:07,800
Speaker 1: Broadcasting live to New York, Bloomberg eleventh to Washington, d C,

2
00:00:08,039 --> 00:00:13,280
Speaker 1: bloom to Boston, Bloomberg twelve hundreds to San Francisco, Bloomberg

3
00:00:14,120 --> 00:00:17,680
Speaker 1: to the Country Series Exam Channel one ninety and around

4
00:00:17,760 --> 00:00:21,520
Speaker 1: the globe the Bloomberg Radio Bus, Bloomberg dot Com. This

5
00:00:21,800 --> 00:00:25,400
Speaker 1: is Bloomberg Surveillance and running. It is seven thirty on

6
00:00:25,440 --> 00:00:28,360
Speaker 1: Wall Street. I Michael A. Key along with Tom Keene,

7
00:00:28,480 --> 00:00:32,120
Speaker 1: and it's about two hours away from the start of trading.

8
00:00:32,360 --> 00:00:36,560
Speaker 1: Maybe interesting today because we saw futures down significantly. They're

9
00:00:36,600 --> 00:00:41,240
Speaker 1: pairing their losses. SMP features now down eight points as

10
00:00:41,280 --> 00:00:44,320
Speaker 1: oil prices start to rise. Brent crude is now up

11
00:00:44,360 --> 00:00:47,360
Speaker 1: by two tenths three. We'll see if we get over

12
00:00:47,400 --> 00:00:50,839
Speaker 1: the forty one dollar mark. There are some company stories

13
00:00:50,920 --> 00:00:53,840
Speaker 1: you'll want to know about. Burberry shares are up more

14
00:00:53,880 --> 00:00:56,040
Speaker 1: than four and a half percent. Speculation in the UK's

15
00:00:56,040 --> 00:00:59,840
Speaker 1: biggest luxury goods producer setting up defenses against a potential

16
00:01:00,040 --> 00:01:03,360
Speaker 1: takeover offer. Made a record gain in iron oil prices

17
00:01:03,400 --> 00:01:06,119
Speaker 1: via the world's biggest producer, signing an accord with Fortescue

18
00:01:06,200 --> 00:01:08,759
Speaker 1: Medals Group could see the Brazilian company take as much

19
00:01:08,760 --> 00:01:13,720
Speaker 1: as minority stake in the Australian minor. And here's an

20
00:01:13,760 --> 00:01:16,600
Speaker 1: interesting story. The swings in the stock market causing headaches

21
00:01:16,600 --> 00:01:19,920
Speaker 1: for both Connecticut politicians and investors in the state's bonds

22
00:01:19,920 --> 00:01:23,480
Speaker 1: because Connecticut lowering its estimates for personal income taxes for

23
00:01:23,520 --> 00:01:26,160
Speaker 1: the current fiscal year three times in the past four months,

24
00:01:26,200 --> 00:01:30,200
Speaker 1: blaming last year's stock market losses stemming capital gains revenue

25
00:01:30,200 --> 00:01:34,240
Speaker 1: a lot of investors in Connecticut. Now let's check in

26
00:01:34,280 --> 00:01:36,600
Speaker 1: with Michael Barr. We want to get the latest world

27
00:01:36,760 --> 00:01:40,040
Speaker 1: national headlines. But thank thank you very much. Democrat Hillary

28
00:01:40,080 --> 00:01:42,840
Speaker 1: Clinton and a Republican Donald Trump are the favorites as

29
00:01:42,920 --> 00:01:45,280
Speaker 1: voters in Michigan head to the polls today for the

30
00:01:45,280 --> 00:01:50,720
Speaker 1: presidential primaries. Democrats also will be voting in Mississippi. For Republicans,

31
00:01:50,720 --> 00:01:53,280
Speaker 1: they will also head to the polls in Mississippi, Idaho,

32
00:01:53,480 --> 00:01:58,240
Speaker 1: and in Hawaii. Donald Trump campaign yesterday in Madison, Mississippi.

33
00:01:58,400 --> 00:02:01,040
Speaker 1: Trump told the crowd he has her from Christian leaders

34
00:02:01,040 --> 00:02:04,520
Speaker 1: who say they are too intimidated to publicly endorse him.

35
00:02:04,800 --> 00:02:07,640
Speaker 1: People came up to me, Mr Trump, I love you.

36
00:02:07,640 --> 00:02:09,600
Speaker 1: You're the best. You're gonna be the greatest leader. You're

37
00:02:09,600 --> 00:02:12,240
Speaker 1: gonna be. I want to endorse you. I'm endorsing you,

38
00:02:12,520 --> 00:02:14,560
Speaker 1: but I'm not allowed to do it publicly because if

39
00:02:14,600 --> 00:02:16,919
Speaker 1: I do it publicly, I may lose for the church

40
00:02:17,240 --> 00:02:20,919
Speaker 1: the tax exempt status. At least nine people were injured

41
00:02:20,919 --> 00:02:24,480
Speaker 1: after a commuter train derailed last night in northern California.

42
00:02:24,720 --> 00:02:27,200
Speaker 1: According to the trains operator, a tree fell across the

43
00:02:27,200 --> 00:02:30,640
Speaker 1: tracks and caused the derailment. Israel today refuted a White

44
00:02:30,639 --> 00:02:32,959
Speaker 1: House claim that Prime Minister Benjamin ett and Yah who

45
00:02:32,960 --> 00:02:36,120
Speaker 1: was surprised the Obama administration by canceling a plan to

46
00:02:36,200 --> 00:02:39,120
Speaker 1: visit to Washington later this month. Israel says the White

47
00:02:39,120 --> 00:02:42,800
Speaker 1: House new Nettan yeah, who was considering not coming. Global

48
00:02:42,840 --> 00:02:45,880
Speaker 1: News twenty four hours a day, powered by our hundred

49
00:02:45,960 --> 00:02:48,600
Speaker 1: journalists more than a hundred fifty news bureaus from around

50
00:02:48,639 --> 00:02:52,120
Speaker 1: the world. Michael bar Mike, thank you, Michael. Time now

51
00:02:52,200 --> 00:02:55,600
Speaker 1: for the Bloomberg NBC Sports update. Here's John Sashour. John,

52
00:02:55,919 --> 00:02:58,519
Speaker 1: all right, they are dancing in the streets of New

53
00:02:58,600 --> 00:03:01,160
Speaker 1: Rochelle this morning. Iona College going back to the n

54
00:03:01,160 --> 00:03:04,120
Speaker 1: C Double A tournament after winning a nippentuck affair with

55
00:03:04,240 --> 00:03:07,040
Speaker 1: Monmouth in the Metro Atlantic Final in Albany's seventy nine

56
00:03:07,160 --> 00:03:10,840
Speaker 1: seventy six. The question now is does Monmouth get an invitation.

57
00:03:10,919 --> 00:03:13,320
Speaker 1: The MAC normally does not get two teams in, but

58
00:03:13,639 --> 00:03:16,480
Speaker 1: BLA Hawks won twenty seven games, including road wins at

59
00:03:16,520 --> 00:03:20,160
Speaker 1: Notre Dame, Georgetown, USC and u C l A. Hofstra

60
00:03:20,160 --> 00:03:22,680
Speaker 1: hasn't been to the n C Double A since Villanova's

61
00:03:22,720 --> 00:03:24,840
Speaker 1: Jay Wright was the coach in two thousand one. Had

62
00:03:24,880 --> 00:03:27,919
Speaker 1: a twelve point lead in the Colonial Final in Baltimore,

63
00:03:27,960 --> 00:03:30,480
Speaker 1: but the Pride lost to North Carolina Wilmington eighty to

64
00:03:30,560 --> 00:03:34,920
Speaker 1: seventy three in overtime. When word came Sundave Maria Sharapova

65
00:03:35,000 --> 00:03:37,520
Speaker 1: major announcement of feeling that she, like Peyton Manny, was

66
00:03:37,560 --> 00:03:40,840
Speaker 1: gonna retire instead, she announced he failed a drug test

67
00:03:40,880 --> 00:03:44,280
Speaker 1: at the Australian Open. She awaits a suspension. Five time

68
00:03:44,320 --> 00:03:47,120
Speaker 1: Grand sname winner says she hopes to continue playing with

69
00:03:47,240 --> 00:03:51,600
Speaker 1: the Bloomberg. NBC Sports Update, I'm John Stashiel. Thank you John.

70
00:03:51,600 --> 00:03:54,400
Speaker 1: As we mentioned, futures continue to improve. The S ANDP

71
00:03:54,560 --> 00:03:57,520
Speaker 1: futures now down by seven points. We'll see where that

72
00:03:57,560 --> 00:03:59,440
Speaker 1: goes on the day. Of course, we've had a long

73
00:03:59,480 --> 00:04:02,280
Speaker 1: winning week for the S and P after a tough

74
00:04:02,440 --> 00:04:05,480
Speaker 1: start to the year. Now we see Brent crude up

75
00:04:05,480 --> 00:04:08,120
Speaker 1: by three tenths of a percent and West Texas has

76
00:04:08,160 --> 00:04:12,560
Speaker 1: turned higher by about a tenth of a percent. Thirty

77
00:04:12,600 --> 00:04:19,360
Speaker 1: seven ninety two. This is Bloomberg worldwide. This is Bloomberg

78
00:04:19,400 --> 00:04:23,200
Speaker 1: surveillance sign Michael McKee, along with Tom Keane I mentioned

79
00:04:23,400 --> 00:04:27,000
Speaker 1: the stock mark Odow evening futures down fifty seven. Now

80
00:04:27,040 --> 00:04:29,120
Speaker 1: that's an improvement, believe it or not, three tents of

81
00:04:29,120 --> 00:04:33,640
Speaker 1: a percent, Nazdak futures off by twenty one half a percent.

82
00:04:33,800 --> 00:04:37,239
Speaker 1: Europe is improving as well. The stock six hundred pairing

83
00:04:37,279 --> 00:04:41,920
Speaker 1: losses now down two points half a percent. Time now

84
00:04:41,960 --> 00:04:44,520
Speaker 1: for the Bloomberg n j I T STEM Report, brought

85
00:04:44,560 --> 00:04:47,320
Speaker 1: to you by New Jersey Institute of Technology, partnering with

86
00:04:47,640 --> 00:04:50,680
Speaker 1: government and industry to apply the university's world class research

87
00:04:50,680 --> 00:04:54,080
Speaker 1: assets to innovate and spur economic growth. Learn more at

88
00:04:54,200 --> 00:04:57,480
Speaker 1: n j I T dot edu. Here's Bob Moon, Michael

89
00:04:57,480 --> 00:05:00,520
Speaker 1: good morning, and coming up on seven on Wall Street,

90
00:05:00,520 --> 00:05:03,599
Speaker 1: Here's what's making news in science, technology, engineering, and math.

91
00:05:03,880 --> 00:05:07,720
Speaker 1: Cybersecurity experts are pointing to the first widespread ransomware attack

92
00:05:07,800 --> 00:05:10,920
Speaker 1: on Apple computers as assign the hacking underworld sees a

93
00:05:11,000 --> 00:05:14,920
Speaker 1: lucrative target beyond the dominant Windows computer market. Researchers at

94
00:05:14,960 --> 00:05:17,880
Speaker 1: Palo Alto Networks discovered the malicious software at the end

95
00:05:17,880 --> 00:05:20,719
Speaker 1: of last week in the Transmission Project. A file sharing

96
00:05:20,760 --> 00:05:25,520
Speaker 1: software provider estimates six macs have been infected. Once downloaded

97
00:05:25,560 --> 00:05:29,280
Speaker 1: and installed, the bug demanded that users pay one Bitcoin

98
00:05:29,400 --> 00:05:32,560
Speaker 1: to decrypt the data, or about four hundred eleven dollars

99
00:05:32,600 --> 00:05:36,680
Speaker 1: at Friday's prices. Verizon Communications was find one point three

100
00:05:36,760 --> 00:05:39,760
Speaker 1: five million dollars by US regulators for failing to tell

101
00:05:39,800 --> 00:05:43,240
Speaker 1: wireless customers about a technology that tracked them as they

102
00:05:43,279 --> 00:05:46,640
Speaker 1: traveled from site to site on the Internet. The Federal

103
00:05:46,640 --> 00:05:50,240
Speaker 1: Communications Commission says Verizon agrees to tell customers more about

104
00:05:50,279 --> 00:05:53,200
Speaker 1: how they're tracked and to get their permission before beginning

105
00:05:53,360 --> 00:05:57,000
Speaker 1: some tracking, and online retailers early moves suggests they will

106
00:05:57,000 --> 00:06:00,400
Speaker 1: be among the first to use augmented and virtual reality.

107
00:06:00,440 --> 00:06:03,839
Speaker 1: One third of consumer goods technology executives planned to use VR,

108
00:06:04,160 --> 00:06:07,680
Speaker 1: according to e Marketer. Meanwhile, sixty four percent of consumers

109
00:06:07,680 --> 00:06:11,000
Speaker 1: would like to use VR to view products virtually online.

110
00:06:11,040 --> 00:06:13,800
Speaker 1: One example of how it's being used, i Kea's Catalog

111
00:06:13,880 --> 00:06:17,680
Speaker 1: app allows users to place virtual furniture in a room.

112
00:06:17,720 --> 00:06:21,039
Speaker 1: And that's this morning's Bloomberg n J I T Stame report. Michael,

113
00:06:21,040 --> 00:06:23,640
Speaker 1: Maybe someday you can the virtual you can ride to

114
00:06:23,680 --> 00:06:25,720
Speaker 1: work right next to your listeners. Would be nice that

115
00:06:25,760 --> 00:06:27,440
Speaker 1: the virtual me could do my job and I can

116
00:06:27,480 --> 00:06:31,680
Speaker 1: stay home, Bob, Thank you very much. Well, here's a statistic.

117
00:06:31,720 --> 00:06:35,160
Speaker 1: It's International Women's Day. Here's the statistic from Harvard University.

118
00:06:35,520 --> 00:06:39,360
Speaker 1: Although nearly equal numbers of American women men and women

119
00:06:39,360 --> 00:06:41,920
Speaker 1: now going to medicine and law, and more women than

120
00:06:42,000 --> 00:06:45,440
Speaker 1: men graduate from college and graduate school, women still make

121
00:06:45,520 --> 00:06:50,080
Speaker 1: up only four percent of fortune, five CEOs of Congress,

122
00:06:50,160 --> 00:06:54,160
Speaker 1: and they they still make less per dollar than men.

123
00:06:55,200 --> 00:06:58,000
Speaker 1: We have Iris Sponent with us from Harvard's Kennedy School,

124
00:06:58,000 --> 00:07:00,479
Speaker 1: a professor of public policy who is the author of

125
00:07:00,480 --> 00:07:05,599
Speaker 1: a new book What Works, Gender Equality by Design? Uh?

126
00:07:05,680 --> 00:07:11,560
Speaker 1: Iris Bone Uh? What works? Your argument is that we

127
00:07:11,640 --> 00:07:15,840
Speaker 1: need to go beyond hoping people change their attitudes. That's

128
00:07:15,840 --> 00:07:18,320
Speaker 1: exactly right. I am arguing that we should stop trying

129
00:07:18,360 --> 00:07:22,280
Speaker 1: to de bias mindsets and de biased organizations and how

130
00:07:22,320 --> 00:07:25,360
Speaker 1: we do things more generally, How do you do that?

131
00:07:26,520 --> 00:07:29,679
Speaker 1: Take the example of orchestras. Many of the major symphony

132
00:07:29,800 --> 00:07:34,640
Speaker 1: orchestra's introduced curtains in the nineties seventies and had musicians

133
00:07:34,960 --> 00:07:38,760
Speaker 1: auditions behind curtains, and what they found was that increase

134
00:07:38,840 --> 00:07:41,520
Speaker 1: the likelihoods that women would make the cut by about

135
00:07:41,520 --> 00:07:44,920
Speaker 1: fifty percentage points. In the seventies we had about five

136
00:07:45,520 --> 00:07:49,800
Speaker 1: human musicians on major symphony orchestras. Today that fraction is

137
00:07:49,880 --> 00:07:55,239
Speaker 1: almost The screen is a behavioral intervention, a design change

138
00:07:55,720 --> 00:07:58,880
Speaker 1: that doesn't change mindsets, but changes how the value of people.

139
00:07:59,560 --> 00:08:02,840
Speaker 1: How I have to work with somebody, I have to

140
00:08:02,880 --> 00:08:04,880
Speaker 1: sit next to, somebody, have to deal with somebody. How

141
00:08:04,880 --> 00:08:09,920
Speaker 1: do I screen without knowing their gender? So many increasing

142
00:08:09,960 --> 00:08:14,440
Speaker 1: actually an increasing number of organizations now do blind evaluations,

143
00:08:14,480 --> 00:08:18,280
Speaker 1: at least in the first round of evaluations, and software

144
00:08:18,360 --> 00:08:21,480
Speaker 1: helps companies do that. So certainly early on in the

145
00:08:21,520 --> 00:08:24,600
Speaker 1: screening process you can easily do that. But the supreme

146
00:08:24,680 --> 00:08:27,440
Speaker 1: really is more of a metaphor than an actual thing

147
00:08:27,520 --> 00:08:31,320
Speaker 1: that everyone should go through the whole interview and process.

148
00:08:31,360 --> 00:08:34,520
Speaker 1: But there's lots we can do during that stage as well.

149
00:08:34,640 --> 00:08:39,000
Speaker 1: So for example, sadly enough, into personal interviews are very

150
00:08:39,120 --> 00:08:45,160
Speaker 1: bad predictors of future performance. Well, that may be true,

151
00:08:45,320 --> 00:08:47,560
Speaker 1: but I'm still gonna want to meet with a person

152
00:08:47,640 --> 00:08:50,400
Speaker 1: to understand what kind of person they are and whether

153
00:08:50,520 --> 00:08:53,880
Speaker 1: or not I will like working with them. That's exactly right.

154
00:08:53,960 --> 00:08:56,720
Speaker 1: So what you should do is couple the interview with

155
00:08:56,960 --> 00:09:00,400
Speaker 1: two things. One, you should ideally have a work example

156
00:09:00,480 --> 00:09:04,319
Speaker 1: test that is the best predictor of future performance. And secondly,

157
00:09:04,360 --> 00:09:08,200
Speaker 1: instead of using an unstructured interview, you should force yourself

158
00:09:08,320 --> 00:09:12,480
Speaker 1: retire yourself to the mask and use a structured interview

159
00:09:12,480 --> 00:09:16,480
Speaker 1: where you ask a candidate the safe the same five questions.

160
00:09:17,840 --> 00:09:22,560
Speaker 1: How how else can we get more women into higher

161
00:09:22,679 --> 00:09:26,240
Speaker 1: level positions, not just into the company. Yeah, that's an

162
00:09:26,240 --> 00:09:29,319
Speaker 1: excellent question, because, as you rightly point out, where we

163
00:09:29,720 --> 00:09:32,600
Speaker 1: typically see the gaps is in promotion, not so much

164
00:09:32,600 --> 00:09:34,640
Speaker 1: at the entry levels. That's not so much a pipeline

165
00:09:34,960 --> 00:09:37,360
Speaker 1: problem anymore, at least than many disciplines. Not at all,

166
00:09:37,400 --> 00:09:40,439
Speaker 1: but in many disciplines. And so for promotions, there are

167
00:09:40,600 --> 00:09:43,280
Speaker 1: two low hanging food that I would recommend every company

168
00:09:43,320 --> 00:09:47,200
Speaker 1: think about. The first one is for performance appraisals. Think

169
00:09:47,280 --> 00:09:52,120
Speaker 1: hard about how you use potential when you evaluate your employees.

170
00:09:52,520 --> 00:09:55,760
Speaker 1: That's where we typically the gender bias creep in, because

171
00:09:55,800 --> 00:09:59,560
Speaker 1: performance is more easily measurable and Another low hanging food

172
00:09:59,679 --> 00:10:03,480
Speaker 1: that any companies could do away with is sharing employees

173
00:10:03,520 --> 00:10:09,360
Speaker 1: self evaluations with their supervisors. These numbers, or self rankings

174
00:10:09,440 --> 00:10:14,000
Speaker 1: or self ratings will affect a manager's evaluation of the employee.

175
00:10:14,120 --> 00:10:16,960
Speaker 1: And if women are less self confident than men, that

176
00:10:17,080 --> 00:10:23,000
Speaker 1: will buy is a manager's evaluations rispone from Harvard's Kennedy School.

177
00:10:23,000 --> 00:10:27,439
Speaker 1: The book is called What Works Gender Equality by Design.

178
00:10:27,760 --> 00:10:31,960
Speaker 1: Very important work on International Women's Day, have very important

179
00:10:32,160 --> 00:10:34,560
Speaker 1: work any day. We don't want to just confine it

180
00:10:34,600 --> 00:10:37,320
Speaker 1: to that, So thank you for joining us today here

181
00:10:37,800 --> 00:10:42,520
Speaker 1: on Bloomberg Surveillance. Well, we are watching what works in

182
00:10:42,559 --> 00:10:45,880
Speaker 1: the markets not work today. The S and PS winning

183
00:10:45,920 --> 00:10:51,600
Speaker 1: streak in danger of stopping as we watch futures once

184
00:10:51,640 --> 00:10:54,960
Speaker 1: again deteriorate, now down nine points four tenths of a percent.

185
00:10:55,520 --> 00:11:01,520
Speaker 1: This is Bloomberg's Surveillance on Bloomberg Radio worldwide. But coutting

186
00:11:01,520 --> 00:11:02,760
Speaker 1: you down to the opening bell, brought to you by

187
00:11:02,760 --> 00:11:04,959
Speaker 1: the Jeep Grand Cherokee, the most awarded suv ever. The

188
00:11:04,960 --> 00:11:07,480
Speaker 1: Grand Cherokee continues to raise the bar with its luxurious

189
00:11:07,480 --> 00:11:10,400
Speaker 1: interior and legendary four by four capability. Drive one at

190
00:11:10,400 --> 00:11:14,160
Speaker 1: your local Jeep dealer. Today,