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Speaker 1: Global business news twenty four hours a day. If Bloomberg

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Speaker 1: dot com the radio plus mobile last and on your radio.

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Speaker 1: This is a Bloomberg Business Flash and I'm Karen Moscown.

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Speaker 1: This updates brought to you by Interactive Brokers and c

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Speaker 1: c M E Group. Honeywell International saying is seeking to

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Speaker 1: re engage with United Technologies on a merger, offering to

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Speaker 1: pay a hundred eight dollars a share. US Dock Index futures, meanwhile,

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Speaker 1: are moving higher amid corporate earnings and signals from China's

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Speaker 1: Central Bank that it will act to bolster its economy.

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Speaker 1: We check the markets every fifteen minutes throughout the trading

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Speaker 1: day on Bloomberg snp Emuni futures of eleven points, Dow

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Speaker 1: Emuni futures have a hundred ten nas. Documni futures up

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Speaker 1: thirty one, and the docks in Germany's up to percent

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Speaker 1: pen your treasury down fourteen thirty seconds see yield one

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Speaker 1: point seven six percent NIM ex scred oila four and

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Speaker 1: a half percent or a dollar fifty arrow called my school.

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Speaker 1: There's down one point one percent or thirteen dollars, the

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Speaker 1: Euro a dollar oh nine six three and the en

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Speaker 1: one thirteen point five four. And that's a Bloomberg business flash.

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Speaker 1: Thom and Scarlett, Karen, I think so much the combined

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Speaker 1: employees of Honeywell ut X, if it was to come

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Speaker 1: about to show you, the scale would be three six

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Speaker 1: thousand roughly revenue. I do want to point out Honeywell

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Speaker 1: has lower revenue than U t X, even though they

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Speaker 1: are the acquirer in this attempt. The key headline there

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Speaker 1: is Karen Musk mentioning Honeywell seeks to re engage with

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Speaker 1: United UH Technologies. We re engage with Howard Davidovitz on retail, Howard,

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Speaker 1: I I look at Amazon. Is the elephant in the room.

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Speaker 1: Is I'm the channel working? Every time you hear that word,

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Speaker 1: it makes me cringe. It's like synergy. Is I'm the

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Speaker 1: channel working? Here's what's going on. If you call any

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Speaker 1: retailer called Macie's, call anybody going on Strom, here's what

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Speaker 1: they're gonna tell you. What is the fastest growing part

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Speaker 1: of your business, every one of them, We'll say online

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Speaker 1: without by including the gap anybody. That means from an

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Speaker 1: allocation of asset point of view, that's where they're putting

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Speaker 1: the money. And that makes sense. That's why all of

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Speaker 1: that's why all of the shrinking stores, and that's why

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Speaker 1: all of them putting money into technology. And they're right, Scarlett,

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Speaker 1: I know us to jump in here. Terry Lundgren has

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Speaker 1: been through four to twelve cycles. Are the retailers being

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Speaker 1: fast enough this time around? I think they're doing what

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Speaker 1: they can. But there is a permanent change in America

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Speaker 1: that that Terry Lungrin is now in the department store

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Speaker 1: segment he always has been. That means he's the high

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Speaker 1: cost player where we've got double the number of people

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Speaker 1: in poverty looking for deals. Hello. That is a gigantic problem.

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Speaker 1: It is a problem. But does it matter if the targets,

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Speaker 1: the home depots, the Gaffs of the world continue to

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Speaker 1: invest in their omni channel infrastructure. As long as Amazon

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Speaker 1: keeps expanding its product line, it's it's offerings. What it

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Speaker 1: means is they're gonna shrink forever. What it means is

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Speaker 1: Macy's has got to keep drinking right now they're trying

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Speaker 1: to monetize their real estate, shrinking those big, down down stores.

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Speaker 1: They're doing what they gotta do aid to stay alive

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Speaker 1: and raise capital and keep their stock price up and

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Speaker 1: be to get enough money to keep investing in what

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Speaker 1: they've got to do. Okay, that's what they're doing, and

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Speaker 1: that's smart. All right. We've named checked Terry Longren, We've

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Speaker 1: talked about Gary Freeman of Restoration Hardware. Who among the

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Speaker 1: retail CEOs gets this, who's doing it right? Well, the

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Speaker 1: best retailers out there, I would say Costco In my opinion,

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Speaker 1: Cosco is the best because Costco has a formula that

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Speaker 1: when you cut roll the BS, they really give the

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Speaker 1: customer the best deal. And guess what, everybody knows it

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Speaker 1: Aldi Food really gives the customer the best deal, not

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Speaker 1: bs like Walma that I'm down and dude, they really

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Speaker 1: not like the Beast and beyond. Here's a coupon by

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Speaker 1: other guy. This is a philosophy. This is a corporate philosophy,

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Speaker 1: of corporate strategy. The CEOs. Look, when Senegal ran Costco,

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Speaker 1: at least he was fam Walden. I mean, I think

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Speaker 1: these companies that are winning. I think Amazon has got

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Speaker 1: the best CEO out there right now. I mean, I

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Speaker 1: think this guy is a game changer, guy who's on

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Speaker 1: a mission. He's all. All he's done has changed the

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Speaker 1: entire retailing at seventy economy. This eyes amazing, This spaces us,

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Speaker 1: that's my opinion. Well, Tom, we were discussing earlier how

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Speaker 1: you and I don't actually go into stores anymore. We

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Speaker 1: just go and buy it online. Howard House Luxury before

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Speaker 1: we let you go off. They had a good season.

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Speaker 1: A Luxury was mixed, and that's because of what's going

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Speaker 1: on with Chima and Russia. They've got an also, volatility

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Speaker 1: in the stock market tremendously affects them. Howard, thank you

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Speaker 1: so much, greatly appreciated. Hard to vido it. And we

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Speaker 1: need a shout out right now to Rebecca Minkoff who

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Speaker 1: darkened the door fashion Week. It was great to see her.

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Speaker 1: She got up wicked early and was like heading out

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Speaker 1: to like forty seven hours of runway stuff with her

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Speaker 1: brother Ury. And you know, it's just like that American

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Speaker 1: spirit of okay, what do we do now? Granted that's

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Speaker 1: a luxury and Howard's looking at Scarlett. I thought it

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Speaker 1: was fascinating on restoration hardware, And I said to somebody

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Speaker 1: that said, restoration hardware is so polarizing people either addicted

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Speaker 1: to it, hate it, or at least they know where

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Speaker 1: it is. I mean, just the catalog. Have you ever

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Speaker 1: gotten at home the catalog? Well, yeah, I almost broke

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Speaker 1: the mailbox and broke the mailbox and broke your wrist

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Speaker 1: or one of them. And it's just a complete about

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Speaker 1: the size of a telephone book. Yeah, you know, and

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Speaker 1: they're doing how are We got a huge response from

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Speaker 1: Mr Davidovitz is on and of course he U I

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Speaker 1: heard their real support from Mr Friedman uh in UH

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Speaker 1: coming to grips at restoration hardware with a path afford.

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Speaker 1: We're looking at all sorts of things. We're gonna focus

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Speaker 1: in the next half hour on U t X Honeywell.

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Speaker 1: This has been tangential. I would say it's been like, yeah,

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Speaker 1: they're big, and there's regulatory overlays and all that. But

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Speaker 1: with this new headline, let's go to it right now.

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Speaker 1: On the Bloomberg. The basic idea of Honeywell UH seeking

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Speaker 1: to quote re engage with U t X and eight

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Speaker 1: dollars per share. That's because they have hell talks in

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Speaker 1: the past g E kind of gotten the way, and

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Speaker 1: then there's some concerns from regulators as well, which kind

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Speaker 1: of stym me the whole deal in the end. Yeah,

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Speaker 1: and and we're gonna have some chat on this for you,

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Speaker 1: some good conversation. Just to put it in perspective, I'm

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Speaker 1: trying to do this. If you take a hundred and

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Speaker 1: eight dollar valuation right now ut x uh over the

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Speaker 1: last ten years is about a nine percent return. Eight

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Speaker 1: point eight percent is where I would put that modeling

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Speaker 1: in a hundred eight dollars per share. Uh. There it

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Speaker 1: is um a little more on this headline out as well,

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Speaker 1: Standard Charter, the Challenge Emerging Market Bank their units. They

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Speaker 1: may be cut by Standard and Poores. On this Friday,

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Speaker 1: Scarlet Fou Tom Keene, Henrik Lundquist is not with us.

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