Since checking in . We are following up. There will be hours and hours of Video Surveillance we will have to recall with the cooperation of the mgm. [inaudible] the Fusion Center . There are cameras everywhere. How did this happen . I dont understand what you are alluding to, how did it happen. This is an individual described as a lone wolf, i do not know how it could have been prevented if we did not have prior knowledge of the individual. It was not evident he had weapons in his room. We have determined that there have been employees going to and from his room and nothing nefarious was noticed, at this point. That is what we know. The First Responders were integral to stopping more deaths. Can you describe how strike teams were able to find the suspect . You are correct. Any event that takes place in the Southern Nevada region, it is required by nrs to supply Police Officers to ensure security. The mandalay bay did a great job of hiring Police Officers. They had sufficient staffing for the concert. When this individual decided to fire upon the crowd, which was approximately 22,000 individuals, it is difficult to manage that size of crowd. Described, our officers responded immediately in conjunction with the Fire Department. As soon as the Fire Department arrived. They were able to identify where the weapon was being discharged from and from proximity it is hard to tell. Once they gained entry to the hotel in conjunction with security and their phone calls from agents, they were able to call it down to a possible floor. Once they made entry onto the hallway, they immediately knew which room was in question. There have been dramatic reports about what happened in the room when officers entered. There was so much smoke from the shelves, smoke alarms were going off, is there any truth of that . Ive not been told of smoke alarms but he had killed himself. Ourill have to go through body cameras and existing video, whether we engaged him at the same approximate time. You said you didnt believe this had suspected ties, [indiscernible] no maam, i cannot get into the mind of a psychopath. With the investigation going on now, at the sight of the shooting, how extensive is it and what are we talking about as far as the boulevard being shut down while the ballistics do their work . We have got most of las vegas boulevard open. Directly adjacent to the mandalay bay still remains closed. We will ensure we go to the proper intersections to limit the entrance of traffic. Were looking at a minimum of 12 additional hours for documentation of the crime scene and removal of the bodies. Do you know how long he was able to shoot for an do you know if there was return fire from officers on the ground . No, i am not aware of any return fire or the timeline. We did have swat officers discharge weapons at the room location. [indiscernible] illegal. If legally or the atf and the fbi is helping us with that aspect. Come from the hotel, where any in the hotel area . Were had people that deceased and injured outside the vicinity of the concert area. It would be hard to make that determination at this point. We are going to have to talk to those injured individuals to make that assessment. Were shot and how many were trampled . The people have been displaced in five separate hospitals so it will require an extensive review of that communication with them to determine that. Thank you very much, i appreciate everyone here to the back of me and their support of our Police Department. We will keep you regularly updated. I cannot give you an exact timeline at this point but we will keep you informed as we receive information. Have a good day. Thank you. Sheriff Joseph Lombardo there of the Las Vegas Metropolitan Police department, another news conference. Most notably, the death toll has risen to at least 58. The toll of injured has risen to 515. They have been placed in five different hospitals. The sheriff saying there was no knowledge of the individual prior to the incident and he has killed himself as officers in the swat team entered the room. Throughthey would go the body camera images to see whether he was being engaged at the same approximate time. Another interesting thing, the f claim, on an Islamic State website that isis had taken responsibility for the attack, that this lone wolf had converted several months ago. The fbi representative said we have determined at this point, no connection to an International Terrorist group. As this investigation continues, we heard from the attorney ,eneral of nevada, the mayor and the attorney general as well. About,n sandoval talking there are so many things to learn from this vegas shooting. Lets get more details on this developing story out of vegas from Mark Crumpton. There has never been a mass shooting like this in modern u. S. History. A gunmen hiding in a hotel opened fire last night on thousands of people gathered for an outdoor music festival. At least 58 people were killed. More than 500 others were taken to hospitals. Stormed the Mandalay Hotel and casino and said the suspect had killed himself in a 32nd floor room. Stepheneen identified, paddock, 64yearold from mesquite, nevada. President trump gave a speech a few hours ago. It was an act of pure evil. The fbi and the department of Homeland Security are working closely with local authorities to assist with the investigation and they will provide updates as to the investigation and how it develops. President trump is scheduled to travel to las vegas on wednesday to meet with relatives of the victims and First Responders. Reported, the Islamic State has claimed responsibility saying that the individual was a soldier who converted months ago. The Security Council says it is not aware of facts to support that claim. The fbi goes further saying the shooter had no connection to Islamic State. U. S. Homeland Security Officials say there is no specific credible threat involving other public places. In other news on this monday, the british Prime Minister theresa may is being asked why she has not fired her foreign minister boris johnson. He has set out an independent course on brexit and further determined undermined maze of authority mays authority. Her big job will be to show how she is still in control. Two women of killing the estranged halfbrother of the north Korean Leader pleaded not guilty as their trial began today. The february assassination at a crowded malaysian airport terminal. The women are suspected of using a nerve agent to kill kim jongnam. If convicted they face the death penalty. Kim jongun reportedly never met his brother. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. I am Mark Crumpton, this is bloomberg. Lets go live to las vegas. , daniel,correspondent has the latest. Tell us what the mood is right now . Weve heard the death toll has risen. Give us the latest from the ground. Mood you can imagine, the is somber. Many people here are in disbelief that this happened. That the death toll and the number injured continues to rise. We are now at least 58 people killed, over 400 people injured. Many have questions. They want to know how the man was able to pull off this mass shooting. How he was able to get the weapons inside of the Mandalay Bay Hotel without anyone knowing and then pull the shooting off, injuring in killing so many people. We just heard from the police chief that there was no way to avoid this. That mandalay bay had employed as many Police Officers as were necessary for an event like this and that no nefarious activities had been spotted by hotel staff. Is that any solace to the people of las vegas that you have been speaking with today . Are am sure, when people grieving it is hard to say anything that will give them comfort. Especially when they want to place blame, as they should when it comes to the shooter. 65yearold Stephen Paddock. When it comes to actually hearing that, i have not been able to speak to anyone about that particular. Every time i talk to people it is them going over the events of the day. , theyeople telling them heard the gunshots and not really understanding what they were and then when they did realize what happened, then looking around and seeing the people wounded, seeing people injured, you also have that mass stampede of people try to leave the scene. Leave the situation. There were also people trying to help the injured. Trying to help others to get out of the situation. Also trying to help others reunite with family members as they were separated in the chaos. We also heard from the governor of nevada, brian sandoval, saying that blood donations are required at the moment. There are more than 500 people injured right now. What is the situation like . Heard that the hospitals are practically overwhelmed. That the numbers of people, injured, continue to rise in the death toll, they were basically in need of blood. They need those blood donations. I think what people have to is it is not too just the number of people injured but also family members who are also arriving there looking for answers. We have heard that has caused issues too. People in the500 hospitals, double that, family members coming in to check on their loved ones. Right now the hospitals in las vegas are practically overwhelmed. Vonnie there will be a collection of families that want to hear the talk at the convention center. Isask you about tourism, it a place where there is constant and people stop or conventions. Transportation in and out in terms of airports has not been affected but are the tourists leaving . Are they still shocked . When we were leaving our hotel this morning to come to saw peopleon, we with suitcases leaving. We do not know if they already had trips planned to leave today. This is monday in las vegas and usually a time when people leave because they have the long weekend and then leave on monday. People were talking about this this morning. People getting breakfast, coffee, going over the events, wondering what happened, if everything is still over. When it comes to people actually leaving because of this i have not heard any stories of that. Many people i have seen leaving, not sure. Thank you so much for joining us. Reporting live from las vegas. Vonnie once again the death toll has been up to 58. In five areanjured hospitals after a loan gunman a countrye outside music concert on the Las Vegas Strip last night. Lets bring in kevin cirilli, our chief washington correspondent. Politicalational reporter, they are both on capitol hill. Kevin, lets start with you. We know that some senators are trying to return to las vegas. Dcy had been in washington for what was supposed to be a busy week. Kevin relocating from the white house to the senate on capitol hill, we have learned that President Trump has spoken directly with nevada governor brian sandoval, Clark County Sheriff joe lombardo as well as las vegas mayor carolyn goodman. Ive also been told the administration has sent out to the various departments and agencies to make sure they are handling this with utmost respect and care. We have seen speeches including from treasury secretary Steve Mnuchin at one point being more public, now of course, they are being much more private. And president tion trump focusing squarely on the developments out of las vegas. This was going to be a very busy week on capitol hill. Lawmakers returning to the congress today. It is quiet as of now. I want to pull up some of the response from democrats, most notably from senator elizabeth warren, a democrat from massachusetts and potential 2020 contender. She tweeted out earlier i am heartsick for people in nevada and across the country who woke up to this news and are worried their family and friends are ok. Thoughts and prayers are not enough. Not when more moms and dads will bury kids this week and more sons and daughters will grow up without parents. Since the senator tweeted that, the death toll has risen to 58 and more than 500 people are wounded. Is going to spark another round of debate when it comes to u. S. Gun laws. Really this Congress Wants to tighten gun control legislation. What are we expecting on this front . The truth is i would not expect congress to do much or shift course on the issue of gun control. I was here in 2013 after the new 2012, aam sorry late classroom full of dead children did not prompt congress to do anything about this issue. Runhave the people who congress now, who believe strongly in the Second Amendment and are not interested in new gun restrictions. Those that are ran into strong opposition from the gun lobby. I would expect that sort of debate to play out, at least to a point. At that point the senate was run by democrats who tried to do something. Kevin noted, elizabeth warren, and many others, including chris murphy, the senator from connecticut who aed to represent new town and number of other democrats saying, thoughts and prayers are not enough, we need policy action, something concrete as a response to this horrific shooting. But, the only pieces of legislation related to guns that this congress has any plans to consider are those that would loosen gun restrictions, not tighten gun restrictions, including one piece of legislation to loosen regulations on silencers and another that it may be considering later in the fall. At least in the house, that would allow firearms to be carried across state lines into states where they are more tightly regulated. The last mass tragedy in the United States was in june of 2016, the pulse nightclub in orlando in which 49 people were killed. At that point the president was barack obama and donald trump was running. When he spoke, he did not politicize it, he talked of god and praying for victims. At what point you imagine the rhetoric will become more politicized . What we heard from President Trump is a lot like what we are hearing from Republican Leaders. , invoking gody and talking about prayer and kindness and that sort of thing as a response to it. This is a familiar thing. Are shockingly and sadly a regular feature of american political life now. The Republican Leaders have responded by calling for kindness and unity and that sort of thing. I dont see President Trump going down the direction of more gun restrictions. As aampaign for separately proSecond Amendment person. Speaker ryan and Mitch Mcconnell in the senate are also on that page so it is very difficult to see the politics of that changing. We will hear from democrats from this who are getting less shy about saying, we dont stay silent about this sort of thing. They want to politicize this. They believe it should be politicized and lead to concrete action. Cirilli, thanks to you both. On the program, more on the deadly shooting in las vegas. At least 58 people dead and more than 500 wounded. This is bloomberg. This is Bloomberg Markets. Julie is with us, we are halfway into the trading day. With stocko start market reaction, we are seeing to the attacks and las vegas. There are two areas we are seeing the reaction. First of all is in the companies that were directly affected by the attacks. Mgm resorts which owns the Mandalay Bay Hotel and casino from which the attack took place. Also the producer of the concert. Both of the stocks are down, it is not clear if there will be Financial Impact from this. We tend to see this emotional, Immediate Reaction to events like this. Likewise we see the gunmakers reaction in the opposite direction. As we have been talking about, Congressional Democrats have been talking about more gun control. We tend to see a spike in the gun stocks when this occurs. Broadening it out and looking at the major averages, we are seeing records once again for all of them. Remains positive in all three have hit intraday and closing records in todays session. Another way of looking that is on bloomberg, marking the times when we have seen simultaneous highs for the three major averages thus far this year. We are having difficulty here. Thank you for all of those updates. We will return. Lets talk about oracle. It will be offering a service ,hat will help the company bloombergs editor at large cory johnson spoke with a special guest. It is called the autonomous database. It is not a highly automated database. It is truly an autonomous database. People spend hours and hours tuning databases, trying to get them to perform, trying to patch them. That is become a wellknown word over the last few months. Then it ever has before. All of this stuff, that has to have been done technically will now be done automatically. Autonomously, done by us. A whole set of implications out of all this but suffice to say, it is extremely significant, lower cost, more secure, much more automated. It is a fantastic set of announcements from our product team and larry made those last night. What is the technology that allows us to work, fixing itself and repair itself, but more quickly . Init is really all done machine to machine learning. , we try toting into stay away from that of it last about whattalk more it does. It is basically, the computer, getting smarter and smarter. The more data the computer has, obviously the smarter the decisions the computer makes. Is something as simple as being able to scan your data to understand potential intrusions, anomalies. I can go through all of this in detail, i know we dont have a lot of time now. This is basically technology doing the work. Computers can recognize faces today better than humans can. It can go through ofit occurs to me, thinking the horrible news in las vegas, and the work that Law Enforcement is going through, nevada police, fbi, Homeland Security, they are using these databases. Oracle is offering now is different than what it used to. By work on these databases Law Enforcement is very different. Theyre getting different results and faster. You got it. The ability now to be able to recognize patterns faster than you ever have before. To recognize anomalies faster than you ever have before. These are huge innovations that have a variety of uses that are significant. Sorry for the background noise. A lot of people there. A lot of people. On your last Conference Call i was struck by how much you were talking about amazon. A company that 10 years ago we could hardly have imagined having a place in Software Enterprise that it does today. Why amazon . What have they done right and where do you think you can improve on their work . We have been through an evolution and transformation of the company over the past several years. We spent a lot of time talking about the evolution of our applications business. When we did that, we talked about various application competitors for the sake of trying to give customers real comparisons. It is always helpful and i say, i have something great but if i have something great that isnt better than my alternative, it may or may not be interesting to me. The fact that i can compare it to something is, we think, very important. That is the reason for trying to show, how does this compare to what your alternative is . In the case of infrastructure and what is going on in the database market, the reason for that is to show, here is what is available in the market. Here is how our capabilities compared to the market. That is the purpose of the comparisons, so that we take things that can be complicated and make them a simple as we can and give them as clear a comparison to alternatives in the market so you can say, you have a chance to get materially Better Technology that is materially, that does things that other things cant do and you can pay less money to get it. It is pretty interesting. You have to compare that to something to be able to get a conclusion. That strikes me you are leaving out google and microsoft and ibm. In terms of comparisons in the cloud. Again, it is meant to give a comparison to something. That is important. You could insert someone else for this but this is the purpose of, make a comparison, make it start, make it simple, make it clear, allow the customer to make an opportunity, what we think is a very simple decision, based on clear facts as we describe them last night. I want to ask you about m a. That there were not obvious targets out there for oracle. It seemed a different deal on what is out in the marketplace. You have a robust m a team within oracle. , now thatchange acquisitions might slow down . I wouldnt expect much of a change in our behavior. We have always been disciplined. Whether you hear it from larry or me you hear the same story. We look at things that make strategic sense. We dont buy things to buy things. They have to make sense strategically. They have to make sense financially for us or we dont do them. Third, there has to be something we cannot run. That we can optimize when it gets inside the oracle family. We use those filters. Makingy point larry was was compared to a decade ago when there was a lot of , the market is consolidating, changing, it is dynamic. I dont think it takes a lot of analysis to say, there are less targets than there were before. We will continue to be discerning. The proposals before coming out of the white house, notions of repatriation, of assets from overseas and im wondering how that might change the plans. Would oracle acquire more . Lets be clear. We have been running the company in a way to invest into the company as we speak regardless of repatriation. For us, we are hiring as we speak. As you look and listen to lots of changes in work forces in our industry, that is not us. Investing, not seven or eight years ago our headcount was 90,000. Our headcount now is 140,000. Some of that is m a but a lot is organic hiring in r d and sales. That said, we would love to repatriate our cash to the u. S. And there is no question, we would invest it in u. S. When i cover your last announcement, your competitors were quick to call to complain to me for some reason about your growth rates. I wonder what you make of your cloud growth rate and how it compares to competitors like salesforce . Lets talk about our growth rate. Thank you for asking the question. Our growth rates are the highest they have been in years. Last quarter we grew the company in total revenue, 7 . That is total revenue. Of everything. Our cloud revenue was higher, Revenue Growth rate higher than any of our competitors. Our bookings, last year we booked over 2 billion in new cloud bookings. Time last year had many people saying i dont think youll get that done. Beat it. D our rate in q1 and bookings was higher than it was the year before in q1. There are lots of people that say things. I say read the numbers and we are in as good a position, our applications business is growing, we made the biggest database announcement we have ever made. We are excited around here. That was the oracle ceo speaking to cory johnson. Vonnie for more on the developing story out of las vegas lets get to Mark Crumpton. Mark President Trump is calling last night, an act of pure evil. The president scheduled to visit the city on wednesday. Today he thanked local police and First Responders. Withpeed which which which they acted was miraculous and prevented further loss of life. The president also said federal and local authorities are closely working together to provide updates on the investigation. ,t least 58 people were killed over 500 others wounded. The suspected gunman has been identified as 64yearold Stephen Paddock from mesquite, nevada. There is no word yet on a motive. Authorities say he killed himself when they entered a hotel room on the 32nd floor of the mandalay bay resort. Claimedstate has responsibility for the attack but the u. S. National Security Council said it is not aware of facts to support that claim. Congressman Steve Scalise is offering his prayers to the victims of the las vegas shooting. The House Republican whip just returned to work last week after being shot at a congressional baseball practice in june. He tweeted, jennifer and i are praying for the victims of this unspeakable violence in las vegas. Opening statements got underway in the trial of the alleged mastermind of the 2012 attacks on a u. S. Outposts in benghazi, libya. A government prosecutor told a mad despise america and that when his hate boiled the strikeanized that killed four americans including ambassador chris stevens. He has pleaded not guilty to the charges including murder, providing materials and support to terrorists, and destroying u. S. Property while causing death. Chief isunion appealing to the spanish Prime Minister to avoid further escalation and use of force in the stand up over the Catalonian Independence referendum. Catalonias Regional Government says 90 of those who voted over the weekend chose independence from spain and has called for International Mediation to solve the political gridlock. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more i am markountries. Crumpton, this is bloomberg. Vonnie mark, thank you. Resting easy about cable packages. Reached a deal yesterday that keeps espn, abc, and the 2. 4ey channel on year for million new york area subscribers. Preliminary terms were struck at the last minute as disney was said to cut up broadcasting on sunday night. Bloomberg newsy media reporter, gerry smith for more on the last ditch effort. Does this mean that disney was not wrong to create a product or have that in the works . What this shows is that espn and disney, its owner, still has a lot of negotiating leverage with providers. Will offer an online only service for people who dont subscribe to cable but a lot of the content will not be the same sports programming you get with your cable subscription. They were careful to do that, espn was, to make sure they didnt offend cable operators. Very interesting to see these operators paying expensive fees for the sports only channels when we have streaming online viewerships and other means of getting them. I think a lot of people were watching this deal closely as a canus test for whether espn manage to get the higher and higher programming fees from the paid tv operators which is important for their business because they are starting to lose subscribers and they paid billions of dollars for the rights to air live sports. This is a crucial moment for disney. Have a lot more contract renewals with providers coming up and they have a lot of what they are looking for, higher rates for espn which is important. They also persuaded them to carry College Sports networks, including a new one. They still have leverage. Sides displayed, can we, now that we are going to see this a lot, every time a deadline is coming we will have this standoff between the broadcaster and the content provider . Wins . s guess as to who you are starting to see more and more of these negotiations get tense with both sides saying, we may have a blackout here. Other cable providers, people are cutting the cord because cable is getting too expensive. They tried to negotiate as hard as they can to keep programming fees as low as possible. That way the cable bill will not go up as much. We are starting to see tension there in the negotiations. I think we will see more going forward. Does that set the tone for future negotiations for disney . Disney has several more negotiations over the next two years amounting to half of their paid tv subscribers. ,hat is happened with the deal the preliminary deal, this could be a blueprint for the negotiations going forward. Are the next negotiations that we need to look forward to, can we draw conclusions from this . In the next year, disney has one with verizon and a few others in the next two years. Settingl be very much the tone for those negotiations now. Gerry smith, media reporter for bloomberg news, thank you. Both stocks are higher on the news. Ubers board set to take steps to limit the former ceos power. This is bloomberg. We are following developments out of las vegas. Here is what we know so far. At least 58 people are dead, that number may rise. 500 people at least are injured. This all after a gunman opened fire from a hotel room on the 32nd floor of the mandalay bay resort and casino. Authorities have identified the gunman as 64yearold Stephen Craig paddock. Himselfnd he had killed when officers stormed his hotel room. This lone wolf was found with at least 10 rifles in the room. He is believed to be the lone shooter. No motive is known at this time. President trump has said he will visit las vegas on wednesday. It is time to turn to the stock of the hour. This is the Fourth Quarter of 2017 and trading lower today. Since march. Joining us is abigail doolittle. What is going on . The stock is on pace for the worst day of the year. Analysts, kevin grundy, really putting his work into the numbers. 108 from 133. It is bearish. He is talking about two areas of slowness. First trends in north american beverages and second, the contracting multiples in the food business. These of the segments for pepsico. If we take a look at a graphic on pepsico, it shows 33. 4 of the companys business is in north american beverages, and orange. In purple, is the fritolay are snack business. He thinks the beverages, that segment will slow and the snack segment could start to have a contracting multiple, all in all, not good for the stock. They reported earnings on wednesday. Investors may see this as a bearish tell. We had susquehanna trimmed their revenue ahead of the report. Overall, a bearish reaction here with the stock down today. Abigail doolittle, thank you so much for the latest on pepsico and their stock just falling at this hour. Ubers board of directors is set to vote on whether to proceed with a stock deal and sweeping board reforms. It could be the largest private stock sale in history. Meanwhile the reforms have three major goals. To create equal voting power on shareholders, moving the start up to an iv oline the next two years and limit the former ceos power. Friday, Travis Kalanick named two cable to the vacant board seats. Joining us now from san eric, great having you here. Will this vote go with or without Travis Kalanicks appointees and will that matter . It seems now that they will be part of it. It seems like they are officially board members. I think there could be a legal challenge from benchmark, as we reported yesterday. We will see if that affects the board members. There is a question of whether they have had enough time to review the documents. It will be interesting to see how the former xerox ceo and former Merrill Lynch ceo decide to vote here and whether to vote on the slate of governance reforms. Vonnie take us through some of what will be up for vote on the day. Some of the measures will include a 10 billion infusion from softbank for example . There are two pieces. The government reforms which would create the board, taking one of Travis Kalanicks board seats and giving it to soppy so that they could have a board seat as part of the deal. The governance reforms and then the deal. The deal, the last we heard it 69 dollars 69 billion valuation and somewhere around 9 billion in secondary, buying from existing shareholders and ,hat price would be tended around 45 billion. Then there are a number of governance changes meant to restrict traviss role. Example, a former officer of the Company Wants to become chief executive, they would need two thirds of shareholders and two thirds of the board to support it or it that creates a big barrier for travis to come back as ceo down the road. D soy uber has face many problems. What will these latest developments due to the company . Will be in the legal woods for a while. They have three federal u. S. Probes. Foreign corrupt practices act violations, gray ball, software used to evade Law Enforcement authorities and a software called a competitive software device. London, the ce going on tuesday to negotiate with the mayor to try to stay operational. Regionst its head of the in europe. Lots of problems in london and fighting with regulators. Andie what are analysts Silicon Valley watchers saying about this . You might have a bifurcated board. Is it possible that sugar and spice will make everything nice and that one half of the board will be good at one thing and the other half at another . I think the fundamental problem is benchmark and Travis Kalanick being at such great odds and the new ceo being thrown in the middle. It seems clear with the reforms that the new ceo has supported benchmarks camp more than travis is. I think the fight on the board is not sustainable. They might have to coexist but as it exists today, it is pretty hot. A lot of infighting. , dont think it is a matter of divergent opinions. About the role each other has in the Company Going forward and that is a tough situation. Obviously benchmarks lawsuit is an arbitration right now and it remains ongoing. Shery thank you so much for that with the latest on uber. Coming up, markets attracting big money with little oversight. Why u. S. Regulators are growing concerned and investigating a Popular Exchange for cryptocurrency. That is next. This is bloomberg. Vonnie this is Bloomberg Markets. Shery we are following the development not of las vegas. Heres what we know so far. At least 58 people are dead and more than 500 injured. After a gunman opened fire from his hotel room on the 32nd or of the mandalay bay resort. Authorities identified the gunman. 64yearold Stephen Craig had killednding he himself when swat officers stormed his hotel room. He was found with as many as 10 firearms. He is believed to be the lone shooter and no more is known at the time. Willdent trump has said he visit las vegas on wednesday. We are expecting him to lead a moment of silence at 245 eastern p. M. Vonnie bitcoin another cryptocurrencies have surged this year. We will get to that story in a moment. Lets listen to the president of the United States. The military, fema, frankly most importantly we will be seeing the people of puerto rico. It has been amazing what has been done in a short period of time on puerto rico. There has never been a piece of land that we have known that has been so devastated. The bridges are down, the telecommunications is in bad shape. The electrical grid is totally destroyed. We have gotten tremendous amounts of food and water and lots of other things, supplies, generally speaking on the island. We will be going tomorrow morning, first thing, early. With thee meeting governor of the u. S. Virgin islands. He is going to because of the difficulty in meeting, he will meet us in puerto rico and also on wednesday morning very early we will be leaving for las vegas where we will going to be seeing the governor. The mayor of las vegas, who i just spoke to, the sheriff, who has done such a great job, the Police Department has done such a fantastic job in terms of the speed. We all very much appreciate it. We will be going to puerto rico tomorrow and on wednesday will and on wednesday we will be going to las vegas on a very sad, sad moment for me, for everybody. For everybody no matter where what youro matter thought processes, this is a sad day. We will be doing that on wednesday. We will be spending the full day there and maybe longer than that. Thank you very much everybody. Appreciate it. You. Thank you very much. Listeningu have been to the president of the United States of the United States speaking about puerto rico and las vegas where he is spending the day on wednesday. A very sad day for the United States. With the governor of the u. S. Virgin islands in puerto rico when he visits puerto rico which is still scheduled for tomorrow. Back to bitcoin another cryptocurrencies surging this year, our story today. Regulators concerned that investors are inflating a bubble destined to pop. A Popular Exchange for this currency facing scrutiny from , about an incident in june. Lets bring in a reporter to talk about it. What is the end game here . Will regulators managed to shut down or put restrictions on cryptocurrencies so that they will end up going away . It is a great question. The Regulatory Environment is a gray area. It is such a new place. Theyre trying to figure out what to do with it. It is unprecedented. I dont want to quash innovation they haveoin based, sent them a letter with question saying we want to know more about what happened with the flash crash in june. Se,t happened was, coin ba the most popular cryptocurrency exchange, the price plunged almost 100 . Shery we are hearing goldman can get into the game . Very interesting. If they were, it could be a formidable competitor for someone like coin base. Vonnie lily, great story. Thank you. We urge you to check out her story. A quick reminder, you can catch all the interviews on the bloomberg with the function tv chartsheck it out forced check it out for charts and functionality. You can ask the guests question. The country will be observing a moment of silence at 2 45 p. M. Eastern in honor of what is now a dental of at least 58, after now a dent that now a death toll of at least 58. We will continue to monitor. This is bloomberg. David i am david gura. Shery im shery ahn. Welcome to Bloomberg Markets balance of power. Top stories. T the President Trump addressing the nation this morning on the mass shooting that left more than 50 dead and hundreds wounded. The administrations response to the worst mass shooting in modern u. S. History. The republican tax reform plan cuts the corporate rate but it also includes a brandnew tax. Catalonia separatists are signaling they may declare independence as soon as this week. What it means for the future of the european union. David for more on the breaking news out of las vegas, Mark Crumpton has more. Vegast nights las shooting is being called the deadliest ever gun attack in the United States. Nevada governor brian
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