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Speaker 1: Broadcasting live to New York, Bloomberg eleventh Rio to Washington,

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Speaker 1: d C. Bloomberg to Boston, Bloomberg twelve hundreds to San Francisco,

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Speaker 1: Bloomberg nine to the country. See what he is exam

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Speaker 1: Channel one and around the globe the Bloomberg Radio plus

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Speaker 1: Bloomberg dot Com. This is Bloomberg Surveillance. Good morning, seven

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Speaker 1: thirty on Wall Street. I Michael McKee along with Tom

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Speaker 1: Keene one m and a deal this morning. Revlon going

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Speaker 1: to acquire Elizabeth Arden four hundred and nineteen million dollars.

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Speaker 1: Not a big deal. Fourteen dollars. Share values Elizabeth Arden

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Speaker 1: about eight hundred and seventy billions. Some analysts say it

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Speaker 1: is not a particularly good deal. One described it as

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Speaker 1: putting lipstick on a pig somebody looking at the what

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Speaker 1: they make. But it is a good deal for Arden

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Speaker 1: who shareholders the need stock up forty nine percent in

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Speaker 1: the early trade. We've been talking about this all morning.

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Speaker 1: Spanish authorities investigating some bankoh Santender and BMP parry By

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Speaker 1: employees allegations they may have shielded customers international transfers from

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Speaker 1: tax authorities. They may bring criminal charges. BP can keep

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Speaker 1: spending at a reduced rate of about seventeen billion dollars

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Speaker 1: for another three years without affecting growth That out now

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Speaker 1: from Chief Executive Bob Dudley, they have enough projects on

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Speaker 1: hand to be able to continue producing fuel. He says

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Speaker 1: this in a Bloomberg News interview. Now, let's check in

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Speaker 1: with Michael Barr and get the latest world national headlines.

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Speaker 1: Michael Finke time, thank you very much. The Egyptian Investigation

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Speaker 1: Committee said the flight data recorder of the egypt airplane

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Speaker 1: that crashed last month, killing all sixty six people on board,

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Speaker 1: was recovered early this morning from the bottom of the

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Speaker 1: Mediterranean Sea. Yesterday, the plane's cockpit voice recorder was also retrieved.

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Speaker 1: The latest findings raise hopes that investigators will be finally

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Speaker 1: able to determine the cause of the cry the Egypt

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Speaker 1: or Abiss reach point. He was flying to Cairo from

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Speaker 1: Paris when it crashed on May nine. Democratic presidential candidate

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Speaker 1: Bernie Sanders says he will work with Hillary Clinton to

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Speaker 1: transform the Democratic Party and to ensure that Republican Donald

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Speaker 1: Trump is defeated. Sanders addressed his supporters in a live

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Speaker 1: stream address, saying, but defeating Donald Trump cannot be our

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Speaker 1: only goal. We must continue our grassroots efforts to create

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Speaker 1: the America that we know we can become, officials say.

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Speaker 1: Dozens of State Department employees are endorsing an internal document

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Speaker 1: that advocates US military action to pressure Syrious government into

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Speaker 1: accepting a ceasefire and engaging in peace talks. The position

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Speaker 1: is at odds with US policy. Global News twenty four

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Speaker 1: hours a day, powered by our two hundred journalists more

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Speaker 1: than a hundred fifty news bureaus around the world. Michael

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Speaker 1: bar Mike Tom thank you, Michael. Time now for the

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Speaker 1: land Over Parsippany Bloomberg NBC Sports Update with good Morning,

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Speaker 1: My Yankees and got healthy at the expense of the Twins.

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Speaker 1: Dee Dee Gregoria's six home run of the year broke

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Speaker 1: a one one high and the seventh Yankees in their

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Speaker 1: four game slide with a four one win. C C.

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Speaker 1: Sabathia a great start, gave up one run in six

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Speaker 1: innings four games. Set continues tonight at Mansairozanaka meets Pat

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Speaker 1: Dean Mets. They take the rubber match versus Pittsburgh six

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Speaker 1: to four. Part Toto Cologne earned the win, allowing two

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Speaker 1: runs in seven solid innings. Neil Walker went yard against

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Speaker 1: his former club, driving in three Atlanta rolls into town tonight.

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Speaker 1: Matt Harvey gets the call. David Wright had next surgery Thursday.

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Speaker 1: Some experts say it could end his career. The surgeries

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Speaker 1: to remove herning it. At disk NBA Finals Game six,

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Speaker 1: Calves roll the Warriors one fifteen to one on one

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Speaker 1: to fource. Game seven Sunday in Oakland. Copa America play

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Speaker 1: US edge Decuador two to one. In Seattle Day advanced

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Speaker 1: to the semi finals. That comes your way Tuesday. They'll

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Speaker 1: play either Argentina or Venezuela. And rain halted the first

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Speaker 1: round of play. In the afternoon of the US Open.

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Speaker 1: Jordan's feet was plus one after eleven. That's your NBC

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Speaker 1: Bloomberg Sports update. Thank you very much. Well, it's a

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Speaker 1: mixed day risk off in the United States. Risk On

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Speaker 1: around the world. Will continue to follow developments all day

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Speaker 1: here on Bloomberg Radio, says Bloomberg Surveillance and I com

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Speaker 1: a key along with Tom Keane. As I mentioned, risk

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Speaker 1: off means SMP features down six points right now down

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Speaker 1: features off by thirty three. Risk on means the stock

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Speaker 1: six is up four points of the foot see is

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Speaker 1: up fifty three. Time now for the Bloomberg n j

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Speaker 1: I T STEM Report, brought to you by New Jersey

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Speaker 1: Institute of Technology, investing more than a hundred and ten

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Speaker 1: million dollars a year in applied research to solve problems

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Speaker 1: and to improve life. Learn more at Stories of Innovation

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Speaker 1: dot n j I T DOT E d U. A

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Speaker 1: small asteroid has been discovered by NASA scientists in an

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Speaker 1: orbit around the Sun that keeps it as a constant

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Speaker 1: companion of Earth, and it will remain so for centuries

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Speaker 1: to come. It orbits the Sun. The new asteroid, designated

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Speaker 1: two thousand sixteen h O three it needs a better name,

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Speaker 1: appears to circle around the Earth as well. It's too

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Speaker 1: distant to be considered a two satellite of our planet,

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Speaker 1: but is the best and most stable example to date

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Speaker 1: of an ear Earth companion or quasi satellite, NASA says

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Speaker 1: in its yearly Check around the Sun. Asteroid two thousand

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Speaker 1: and sixteen h O three spends about half the time

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Speaker 1: closer to the Sun than the Earth, then passes ahead

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Speaker 1: of the planet at about half of the time farther away.

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Speaker 1: Its orbit is also tilted a little, so it bob's

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Speaker 1: up and down once a year through our Earth's orbital plane,

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Speaker 1: so it's sort of caught in a game of leap

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Speaker 1: fraud with the Earth that will last for hundreds of years.

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Speaker 1: And as a spacecraft bound for a fourth of July

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Speaker 1: encounter with Jupiter in the latest quest to study how

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Speaker 1: the largest planet in the Solar System formed and evolved.

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Speaker 1: As Juno approaches Jupiter's harsh radiation environment, it will fire

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Speaker 1: its main engine to slow down and slip into orbit

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Speaker 1: around the planet. If all goes as planned, Juno will

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Speaker 1: spend nearly a year circling Jupiter's pole holes and peering

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Speaker 1: through crowd clouds to scrutinize the planet's southern and northern lights,

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Speaker 1: strongest in the Solar System. Unlike Earth, which is a

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Speaker 1: rocky planet, Jupiter is a gas giant made up of

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Speaker 1: mostly hydrogen and helium. Scientists still don't know whether Jupiter

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Speaker 1: has a solid core or how much oxygen or water

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Speaker 1: the planet has. Information you can help unravel how Earth

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Speaker 1: and the Solar System came to be. The trip to Jupiter,

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Speaker 1: the fifth planet from the Sun, took the spacecraft Juno

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Speaker 1: nearly five years. That's the STEMP report. Tom Keene very good.

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Speaker 1: This is a thrill we get in something in the vicinity. Mike, I,

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Speaker 1: I'll let you decide fifty books a day, five days

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Speaker 1: a week. It does seem here And then there's a

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Speaker 1: book where you pick it up and you immediately know

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Speaker 1: it's the most beautiful book you've held in your hands

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Speaker 1: in years, and then you realize, with a bonus round,

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Speaker 1: it's actually worth something to read. This is my book

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Speaker 1: of the summer of two thousand and sixteen. If you

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Speaker 1: like black and white photos, if you live for Wilford

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Speaker 1: and d seventies six developer, get sixty four shots by

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Speaker 1: Kevin Roberts. I will put it out on my Amazon

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Speaker 1: Read this list. Kevin Roberts iconic with an advertising and

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Speaker 1: messaging in how to move forward through life? Of course,

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Speaker 1: he spent a few years at Sachi and Sachi. Kevin, Congratulations,

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Speaker 1: Where did leadership in a crazy world come from? Where?

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Speaker 1: Where did the idea come from? That? It combines Mohammed

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Speaker 1: Ali with a g Laughley of Proctor and Gamble with

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Speaker 1: um Uh the leadership of the Episcopal Church, the Anglican

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Speaker 1: Church of England Rowan Williams. It was a culmination of

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Speaker 1: fifty years experience I've been working since I was a

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Speaker 1: kid of sixteen, and the conclusion I've reached over those

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Speaker 1: fifty years is it's not about quality, it's not about management,

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Speaker 1: it's not about product. The thing that makes the essential

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Speaker 1: difference to sustainable successes leadership. And in this crazy, crazy,

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Speaker 1: fast paced VUCA world that we live in now, leadership

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Speaker 1: is once again turning into an art, not just a science.

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Speaker 1: So I tried to capture legends, stories, anecdotes, examples, lessons

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Speaker 1: and put them all together in sixty four shots, sixty

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Speaker 1: four bites so people could dip in, dip out, be infused,

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Speaker 1: and be inspired. You describe yourself as a radical optimists.

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Speaker 1: What does that mean? Which part, Michael you confused about

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Speaker 1: the I think it was Colin Powell who said to

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Speaker 1: me years ago, perpetual optimism is a force multiplayer. And

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Speaker 1: you know, I've always been optimistic, but in a very

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Speaker 1: radical way, a very progressive way. Sachi and Sacha we

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Speaker 1: believe one thing, nothing is impossible, and I think that's

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Speaker 1: the way of looking at the world at turning voca

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Speaker 1: volatile and certain, complaint and ambiguous into a more super

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Speaker 1: voca if you like. That's vibrant, unreal, crazy, you use

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Speaker 1: the terms VUCA and super vuca. Explain that to our listener, Well,

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Speaker 1: VUCA was something that was actually explained to me by

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Speaker 1: a four star US general who said, at West Point

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Speaker 1: Now they had the belief that the world we lived

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Speaker 1: in was not the orderly, strategic world that we would

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Speaker 1: like to imagine out there, but it was a world

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Speaker 1: that was vuca v volatile, uncertain, complex and ambiguous, to

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Speaker 1: which I replied, you know, if you live in Italy

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Speaker 1: and Argentina, that's been two hundred years the only thing

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Speaker 1: they've ever known. But you're right, I think that is

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Speaker 1: the way the pace of the world is moving now.

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Speaker 1: But we have a more radically optimistic take on that,

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Speaker 1: which is it's a super vocal world. If you're an

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Speaker 1: advertising after all, everything is super you know, super League,

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Speaker 1: super side, supermodel. You know, it's just got to be super.

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Speaker 1: And this is the new and improved Bloomberg surveillance. Exactly

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Speaker 1: when you when you look at your book and clearly

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Speaker 1: it is it is within the NBA leadership zeitgeists books

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Speaker 1: the number Well, we gotta come back and talk about this.

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Speaker 1: We don't have time to do this in this project.

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Speaker 1: I want to come back and talk to you about

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Speaker 1: how much I hate the word passion. I hate with

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Speaker 1: a passion people that talk about passion. You don't talk

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Speaker 1: about passion. You just say, look, here's the realities we have.

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Speaker 1: Gett enthusiastic and move forward. We will continue Kevin Roberts

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Speaker 1: with this. This is a wonderful Friday digression. Yes, we

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Speaker 1: will speak of England and Brexit and Bromain here as well.

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Speaker 1: The book is sixty four shots. It is my book

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Speaker 1: of the summer. Michael McKee and Tom King, we're on

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Speaker 1: our way to London. Bloomberg Surveillance. Bloomberg Surveillance brought to

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Speaker 1: you by Bentley University. What do tying up the finances

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Speaker 1: at Converse and managing asset allocations at JP Morgan have

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Speaker 1: in common a business degree from Bentley University Because business

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Speaker 1: is everywhere prepared here global business news twenty four hours

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Speaker 1: a day at Bloomberg dot Com, the radio plus Mobile

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Speaker 1: Act and on your radio. This is a Bloomberg Business Flash,

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Speaker 1: and it's a Bloomberg Business Flash being brought to you

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Speaker 1: by Sector Spider e T S. Why by a single

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Speaker 1: stock when you can invest give the entire sector because

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Speaker 1: it's Sector s P t US dot com or called

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Speaker 1: one six six sector et F looks like a risk

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Speaker 1: on sentiment, at least in the overseas of markets of

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Speaker 1: foot see one hundred of eight tenths of a percent,

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Speaker 1: but off the best level of the session of KAC

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Speaker 1: in Paris up six tenths of per percent, and Germany

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Speaker 1: the Dax was three tenths of a percent. But that's

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Speaker 1: not exactly a following through of the U S where

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Speaker 1: we have a futures SMP futures lower are right now

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Speaker 1: down six points, down three tents, the Down futures twenty

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Speaker 1: six points lower, that's down two tents, and the Nastic

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Speaker 1: Humanity futures right now six points lower, that is down

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Speaker 1: two tents real quick. Just to bring a one deal

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Speaker 1: in the news the set of europe A, Siemens and

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Speaker 1: Games so they say they have agreed on a merger

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Speaker 1: of their wind power businesses this morning. And among the

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Speaker 1: most actively traded stocks in the pre market Apples shares.

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Speaker 1: They are down about half a percent right now after

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Speaker 1: the Beijing authorities ruled against it in a patent case.

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Speaker 1: And we have the markets for you every fifteen months,

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Speaker 1: stury of the trading day right here on Bloomberg Radio.

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Speaker 1: I'm John Tucker back to Michael and Tom. John Tucker,

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Speaker 1: thanks so much. It is nice after the insane Wednesday

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Speaker 1: and Thursday that we've seen, and I should point out

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Speaker 1: heartbreaking Thursday with the assassination of a member of Parliament

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Speaker 1: in the United Kingdom. To speak with Kevin Roberts. We

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Speaker 1: do in celebration of sixty four shots leadership in a

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Speaker 1: crazy world. It is by far and away the most

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Speaker 1: beautiful book that has walked in the door in years.

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Speaker 1: Gorgeous photos including Mr Springsteen, Mr Clemmons, Vivian Westwood, Rowan Williams.

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Speaker 1: We mentioned earlier in others and we talked to Kevin

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Speaker 1: Roberts about leadership. But we need to turn now to

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Speaker 1: some of the themes at the moment. Mike and I

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Speaker 1: will travel to London to be with John Farrowe, Francis

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Speaker 1: Laqua and our coverage of the EU referendum. How should

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Speaker 1: elite speak today, in particularly how to Bermain and brexit

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Speaker 1: elite speak after the murder of Joe Cox. I think

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Speaker 1: they have to speak from the heart and and and

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Speaker 1: stop talking about policy strategy facts. I think the British

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Speaker 1: public have been inundated with pros and cons. We now

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Speaker 1: have to have some sense of decency and let people

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Speaker 1: make this big decision themselves with their hearts. Tell us

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Speaker 1: about where you grew up. You grew grew up down

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Speaker 1: the road from Chartwell, from Churchill, Summer places that right, yea.

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Speaker 1: I grew up in a prefab they called them, which

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Speaker 1: is obviously a pre fabricated house in Lancaster, up in

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Speaker 1: the northwest, in a typical sort of working class background.

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Speaker 1: My my folks both left school whenever fourteen, came from

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Speaker 1: large families. And I as a prime minister or the mayor,

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Speaker 1: the former mayor of London, how do they speak to

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Speaker 1: the people that you knew as a kid. Yeah, what

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Speaker 1: they should do is spend more time speaking very slowly

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Speaker 1: and carefully and tell people, look, this is a very

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Speaker 1: big decision for you all. You've heard enough. Now make

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Speaker 1: the big decisions with your heart, follow your feelings. Think

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Speaker 1: about your future. I've got kids, I've got grandkids. Do

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Speaker 1: we want to give them a future where they're contained

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Speaker 1: locked in in a redoubt of an island or do

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Speaker 1: we want to give them a future a free him.

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Speaker 1: So both my kids worked in Paris and Milan. I

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Speaker 1: now work for French company. I played rugby in Switzerland.

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Speaker 1: Do we want our kids to be repressed and contained

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Speaker 1: or do we have the optimism and the courage to

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Speaker 1: say no, we will fix the problems. We will send

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Speaker 1: Boris to Bristols to fix those for us and you

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Speaker 1: can have a life of freedom. Our legacy to our kids.

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Speaker 1: I think they should talk about kids and grandkids. What

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Speaker 1: is the What are the implications as a as a

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Speaker 1: British business man? What are the implications for business in

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Speaker 1: Britain should Brexit occur? Economically it's the horror story. I mean,

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Speaker 1: you know, you're just We're just gonna be reduced. People

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Speaker 1: won't be able to spend, they won't be able to travel.

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Speaker 1: Almost every business I can think of is gonna face

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Speaker 1: dire straits. Germany and France are absolutely huge customers of

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Speaker 1: all things British because of EU tariffs and so on.

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Speaker 1: I think we'll make I think Edward de Bono once

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Speaker 1: told me Kevin, there is no point being brilliant at

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Speaker 1: the wrong thing, and I think this in or out

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Speaker 1: is the wrong question. I think the real question is

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Speaker 1: how do we improve our position in Britain in Europe?

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Speaker 1: And how do we make Europe faster, more flexible, more

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Speaker 1: appropriate for the fuka world that we live in. So

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Speaker 1: I think this referendum is on the wrong thing. Well again,

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Speaker 1: as a British business person, have you experienced what the

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Speaker 1: Leave campaigners argue, and that is an ever reaching regulatory

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Speaker 1: creep from Brussels into uh you know the operations of

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Speaker 1: UK companies. We've we've all seen that. But it's a tiny,

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Speaker 1: tiny problem that should be fixed by strong leadership. I

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Speaker 1: think the EU have now had the biggest wake up

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Speaker 1: call they've ever experienced through this referendum. So the smart

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Speaker 1: thing for us to do is, I think Britain to

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Speaker 1: vote for its heart, stay in the you, and then

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Speaker 1: use that position of strength to go to the EU,

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Speaker 1: put our best leaders in that project and say we're

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Speaker 1: gonna blue ocean the EU and strip out the bureaucracy,

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Speaker 1: strip out the creep and make this work again. There's

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Speaker 1: a culture of great Britain mesh with the culture of

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Speaker 1: the countries on the continent. Britain with its tradition of democracy,

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Speaker 1: the Megna Carta, the French say, with their tradition of

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Speaker 1: state control over much of the economy in people's lives,

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Speaker 1: I think people love to visit France, people love to

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Speaker 1: visit Spain, they love to visit it and they love

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Speaker 1: to partake in this life. I think people want more

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Speaker 1: than singularity. I think they want united I think they

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Speaker 1: want diversity, and I think they want a honeycomb. Mesh,

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Speaker 1: I'm done with all your happy talk. What do you

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Speaker 1: do about Minecraft? Or why is one of the digital world?

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Speaker 1: Mike and I and thousands, I would say hundred percent

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Speaker 1: of our listeners are dealing with offspring distracted by the

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Speaker 1: digital world. They are basically doing too much Minecraft. And

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Speaker 1: I quote someone that Mike McKee studied with for years

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Speaker 1: when a Einstein, any man who can drive safely while

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Speaker 1: kissing a pretty girl is simply not giving the kiss

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Speaker 1: the attention it deserves. How do we get our kids

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Speaker 1: to focus? They're they're gonna find their own way through this.

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Speaker 1: I don't know. Uh, there stands there stands a guy

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Speaker 1: who is not quite as optimistic Mike as you and I.

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Speaker 1: Mike sending here smiling, Well, they'll find their way through.

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Speaker 1: This is just a normal early adopted thing. So they

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Speaker 1: already know that they're spending more time having dinner with

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Speaker 1: their phone than they are with their friends. They already

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Speaker 1: know that they're spending too much time texting, not enough

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Speaker 1: to home. Do we need to teach them both? Let's say, okay,

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Speaker 1: do minecraft and all this, but in the same breath,

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Speaker 1: we got to teach them boring stuff you and I

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Speaker 1: did years ago before color TV. Yeah, and I think

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Speaker 1: you've got to accept that. You probably want to inspire

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Speaker 1: them rasas and teach them because they learned now at

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Speaker 1: rates ten times twelve. That's true. Question about that. I

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Speaker 1: want to talk about the manufacture of your book. Last

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Speaker 1: I heard kindle and digital book has gone clearly, I've

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Speaker 1: heard the renaissance of the book. This is a Brooklyn,

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Speaker 1: New York book, Powerhouse Books, folks. It just it's gorgeous.

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Speaker 1: It feels like one of those artsy photos sixties books,

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Speaker 1: where'd you come up with the idea of black and

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Speaker 1: white photos and a book of such biblical substance Sacchi

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Speaker 1: and Sacci designer called Kaine Williamson did it down in

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Speaker 1: New Zealand. For us, we wanted to make this all

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Speaker 1: black and honor of the rugby. There you go, silver fan.

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Speaker 1: We wanted the black to fight. We wanted the book

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Speaker 1: Tom to fight back. Because books are a beautiful thing

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Speaker 1: to touch, to feel, to smell. You haven't taken your

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Speaker 1: hands off it this morning. I hope you're going to

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Speaker 1: read it as well. I've taken on a plane to

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Speaker 1: London at a boy, but it feels beautiful the pages.

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Speaker 1: And we wanted people to go into the store like

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Speaker 1: they used to, to to look at this without a paper

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Speaker 1: cover and to feel it, and then to reminisce about

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Speaker 1: the black and white simplicity in a complex world. How

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Speaker 1: do we do that, like uh, book of common per

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Speaker 1: Jansen type, something like Jansen font or or monotype Bembo

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Speaker 1: or the rest. How do we give that culture to

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Speaker 1: our kids? They're interested, they're looking at the past. They're

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Speaker 1: very retro they're into stuff that happened before. Of course

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Speaker 1: they think it's sixties as far back as he went

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Speaker 1: at the moment, but they are looking back. They're listening

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Speaker 1: to music like that, they're looking at art like that.

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Speaker 1: They're very curious. I think with these kids today, they

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Speaker 1: are so connected and so collaborative and so creative. They

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Speaker 1: go backwards forwards. They connect past, present and future more

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Speaker 1: easily than we were able to access. You have a

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Speaker 1: beautiful photo of a gentleman who we lost this June.

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Speaker 1: He was a force at PepsiCo. Te Roger under at PepsiCo.

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Speaker 1: Roger was my boss at PepsiCo. He was simply the

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Speaker 1: most inspirational marketing guy I ever met. I once spent

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Speaker 1: two days with him down on his ranch, one on

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Speaker 1: one where he gave me an NBA in two days.

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Speaker 1: And I was part of the Cola wars between Pepsi

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Speaker 1: and Coke when, as you know, Roger wrote a book

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Speaker 1: called The Other Guy Blinked and New Coke came and

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Speaker 1: went in the blink of an eye. A wonderful, charismatic

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Speaker 1: inspirational leader. Very good, Thank you so much. Kevin Rowards.

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Speaker 1: Can't say enough about it, folks. It will be out shortly,

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Speaker 1: like within the week. It's on my Amazon Read this

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Speaker 1: list right at the top. Sixty four shots Leadership in

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Speaker 1: a crazy World. It is the oddest of wonderful leadership books.

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Speaker 1: Can't say enough about it. If you hate NBA leadership books,

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Speaker 1: this is the one to get. The offspring. Kevin Roberts

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Speaker 1: sixty four shots. A quieter market Today, on this beautiful Friday,

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Speaker 1: we will continue our discussion on economics, finance, investment and

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Speaker 1: international relations, This is Bloomberg, Savannah's