Let us start with a check of the markets. The equities are lower. About tensions in ukraine offset earnings from Johnson Johnson and cocacola. The nasdaq composite taking the read theit of the day index is heading for the lowest closed since november. A look at the chart. For the industrial average, it is also done fractionally. Tois down just to down 16,171. 20 we will update with julie hyman at 56 and 26 minutes past the hour. Government troops have moved against prorussian separatists in ukraines eastern region. Authorities say they have identified members of russias special forces among the antigovernment troops. Four militants were killed, two were wounded when ukrainian troops stormed an airport, taking it under control. The government in kiev started the operation. Secretarygeneral ban kimoon asked the u. S. To condemn the Ukraine Military actions. Mr. Obama expressed what the white house calls great concern over the russian Government Support for the approach for the prorussian separatists. The crisis in ukraine is well into a new phase. Associate atenior the endowment for international peace. He joins us now from washington. Welcome to bottom line. Thank you for joining us. Thank you. We did learn about part of that new phase today, ukrainian troops moving against separatist in the eastern part of the country. Ukrainian officials are calling the offensive antiterrorist actions. It is a very dangerous situation. Outrightd lead to an conduct between the Ukrainian Military and Russian Military if both the sides it has to come to the rescue of the separatists. Russia denies it is involved in the unrest in ukraine. Moscow says it has the right to protect its citizens. Is the kremlin strategy military or is it political . It appears to me the strategy is military so far. I dont see a clear political strategy other than to stabilize ukraine to the point where it does not have a functioning government, which is something that is thought of in the interest of russia. Moscow will have to deal with kiev in some form or another. Ministerssian finance said today the countrys Economic Growth may grind to a halt this year. He said that Geopolitical Uncertainty is driving capital outflows which could lead to a drop of price a drop in price of oil. Down over nine percent against the dollar this year. Did you fully consider the economic consequences when it set up on this course of action . Russianews that that haswth is been expected for some time now. Is putin and his closest advisers as the ones who made this decision. Full information about the impact of their actions on their Economic Growth. I think it is a calculated decision. And economic and civil said commercial considerations, i am not going to affect them. The risks, they probably expected some sanctions, possibly serious sanctions from the west. They fully expect the capital flight. These are all things that are entirely predict both and they knew the risk when they decided to move ahead. I think when they decided to do what they felt was in their interpretation of their national interests. For people with knowledge of what of russian government discussions say the country will dip into its Sovereign Welfare Fund next year. Will that be enough to stabilize the peninsula . Staleont really know the the scale of the investment and what is required. Clearly russia has vast reserves. If they chose to do so they can commit to a stabilization of crimea. I think it is a matter of their political decisions. Lets talk about the next the political, climate, is it to hold an election at this point . Clearly the eastern parts of ukraine are in no shape to have an election. You could end up with an election conducted primarily in central and possibly western ukraine. As a result the entire election will become from iced and whoever emerges as an expresident have a conference political legitimacy. Have about one minute left. Other than slapping russia with more sanctions, what is the international communitys role here . Relegated to school in and nothing more than that . Rocks i think in the near term there probably will be more sanctions, which could be quite significant over time and could have a significant effect on the direction of the russian economy. I think there will be further moves to reinforce the frontline states. The baltic stakes have an immediate border with russia. I think we are going to see something along the lines of war could be a cold confrontation that will last for a long time. People are talking about various. Cenarios i dont know how realistic they are but everything at this point will be on the table. At thenior associate endowment for international peace. Joining us from washington. Thank you for your time and expertise. We appreciate it. My pleasure. Today marks the oneyear anniversary of the Boston Marathon bombing, that terror attack changed the way the Police Department manages the city and how the organizers set up this years race. This is the former mayor of boston addressing the gathering today. Adam johnson was in boston in the aftermath of the attacks. He brings us an update on the latest in the trial and the race. What is the status of the Legal Proceedings for Dzhokhar Tsarnaev . Held in federal prison in fort evans massachusetts. This is taking some time. There are a few dates you have to walk that you have to watch for. May 7 instant the dead them line may 7 is the deadline. Forial is scheduled november 3. That is what were looking at for timeline. He has been in custody for almost a year. I asked the former prosecutor about that and he says it typically takes eight to 12 months. He said this is a high profile case. He says the prosecution wants to lock things up and we are talking about everything we need to. What is going to be different at the marathon . A few changes. We spoke to both the firm both the current mayor and police chief. Will not the marathon will not be fundamentally change. Commissioner evans notes we are going to have plenty of assets and if need be they will be rolling very quickly. You cannot bring backpacks, strollers, costumes, large containers and flex. The key is to have things go forward as it always had to be a celebration of patriots day. What about the city in general . What securities and steps is boston taking today . The Boston Department contacted a company that is all about Artificial Intelligence. Down to houston last week to see for myself. April 15, 2013. Boston is not hit by one but two bombs during the marathon. Attack, the of the boston please call behavior recognition systems, asking about a new kind of crimefighting technology. Ability anthe advanced Artificial Intelligence. He is a former secret Service Agent and now president of brs. The Companys Technology can analyze camera feeds in realtime, learn what is typical behavior, and then send an alert when its spot something out of the ordinary. Our system will figure out things and never thought of looking for. You never thought to look for someone driving the car backwards up the car up the parking garage. Our system will alert on it. Because it is different than what it usually sees. It taught itself what to look for. We went to see how isight works. Lets put this to the test. We have a camera set up in the hallway behind you. You can walk out like you are a normal guy in the office. I look at the camera, a hangout. There is nothing abnormal going on here. How do i set this thing off . Why dont you steal the prince her the printer . Brs says it is working with cities, such as chicago or boston, trying to anticipate attacks before they happen. In a lot of cases you can see a precursor of a crime. Poking around where he shouldnt be, looking at back the rings. F it is like minority report. Minority report is for is science fiction. Is more Intelligent Technology comes privacy concerns. The irs criticizes it as being more than big brother. Is not our Technology Approach to collect any personally identifiable information. That is not the information the customers are using when they play that when they deploy their deploye when they their software. Have trillion dollars have been spent on Camera Security systems to help seek out dangers. It is clear cameras are here to stay and hope that Artificial Intelligence could prevent another boston bombing. Buses in boston have been outfitted by three cameras. Thank you so much. We have plenty of Economic News to talk about. An update on fed vacancies and more. A little bounce back to the markets on this tuesday. S p 500 and Dow Jones Industrial average now trending higher. By half adown percent. Negotiators say they reached a deal with one of the citys major creditors. The agreement brings detroit much closer to the end of bankruptcy. Is following the story. Before he can file the reorganization plan, emergency manager has to reach an agreement with creditors. That is one of the groups that he has to come to an agreement with in order to get this through it. The agreement is much less than he had hoped for. He wanted to impose a six percent cut. Nstead there will be no change their costofliving increase will be reduced to one percent read that as half of what they are doing now. He still has to reach an agreement with his general entire read general retirees. And the retirees from both of those must vote on both of those. The agreement is only with the Union Leadership to try and correspond with a group c in july. The retirees account for about half of that. The city hopes to exit a group c, fire, get pushed through through october 15. The citys emergency manager seemed pretty optimistic he could meet that timetable. What does it look like now . They are making some significant progress. They may be able to do a crammed down with others who are not assigned on any deal to go through with it. They have reached an agreement that had a huge 300 billion swap line with the city. Theyre going to pay them 85 billion to basically go away. Representing Group Unlimited texas says is agreed to take . 74 on the dollar. Private groups will provide it hundred 16 million in longterm loans to the city and the Detroit Art Institute survey to not have to sell their paintings if they can reach a deal with these retiree groups. Citys plane the will be on track. Everything needs to be approved. He had scheduled his hearing for tomorrow. That may be postponed while they try to finish up these negotiations. Michael mckee, thank you so much. Toet yellen may be ready post a help wanted sign outside the fed. Departures from the Central Banks port of governors threaten to leave it shorthanded as it begins to hope as it begins to execute its strategy. Peter cook has more on the missing pieces. Arent they some of the most coveted jobs in washington . They are not as hard not as hot as they once were. Part of the reason for this change is the ugly process. These jobs do matter at the fed has to make some big decisions. It matters to janet yellen. These are the members including the president. These have been at every single fed meeting. Help the chairman carry out the fed apostate today administrative lows. The terms are set at 14 years. That is pretty good job security but nobody is staying that long anymore. The average number is down just under five years and that number is dropping even further. The fed will be left with just three sitting governors. Turn expired last year and remains on the board. He has been renominated to a board seat. Reduced to not been three governors since the 1930s. They need to Clear Committee and the full senate before they can join the fed. Even if they do get confirmed there will still be in two new fake it two new vacancies to fill. This is not going away anytime soon. Waiting to see with dan traylor does. Even if he wants to leave, it may be hard for him to do so until others, board. Do we have an antiand who may it those open slots . There are a couple of names being thrown out there. There is a big push for members of congress and the baking industry to make sure the least one of those slots goes to somebody with Community Bank experience. There are two potential candidates that have been talking about this here. The chairman and ceo of sentinel bank, she served on an fdic advisory panel. Also annemarie melamed, she is currently the associate administrator and Small Business administrator. She previously headed a bank. Both of them would check the Community Bank or boxes. Are being considered and there still would be one vacancy after that. And the cuts are pushing hard for somebody with a regulatory background to get that if they can. Washington correspondent peter cook joining us. Thank you for joining us. Twittersad, workers on headquarters in San Francisco tell well tell you why later on. A live shot from the city of boston. Honoring that bombing a year ago. You see people standing in line. Lots of umbrellas out there. A rainy day in boston, honoring those killed in the Boston Marathon bombing. We will be right back. Bloomberg is the only biz service being offered on amazon fire tv. If you miss any of our interviews you can now watch them on bloomberg on apple tv. It features Live Streaming and ondemand videos. Thet is 26 minutes past hour, that means bloomberg is on the markets. Our correspondent julie hyman is standing by with the details. It has been kind of tough keeping track where the markets are today. If you look at the three major avenues right now at this very moment, the s p and dow are up. They were short or low for the day. About 45 minutes ago the nasdaq that remains in the red, it has been the steepest decline throughout. We saw that selloff of companies topped that of Company Stocks or high names. They said there isnt really anything in particular that caused this bounce off the lows. It has just been this volatile market that we have seen recently that continues to tell stocks today. That is what we are seeing. Were seeing that in other assets as well. We will give you an markets are trading a half an hour from now when we go on the markets. Online is next. Wechsler come back to the second halfhour of bottom line on bloomberg television. The shining stars of the tech world are not getting any love from their locals in San Francisco. Toon workers will march borders with the bill they want the company to pay, 56 million to the tax breaks they got from the city. Megan hughes joins me from outside twitters headquarters. It is service workers. They will be meeting at city hall, bubbly districting traffic. Here to the twitter headquarters on market street. It is going to be a little bit of chaos here later today. It isnt just twitter getting these tax breaks. Is 100 million in total. They do allow companies to be exempt from payroll taxes for new hires. They also exempt companies from paying other compensation. Ideal for companies that are considered ipos. These Union Workers are currently negotiating contracts. The bigger argument is in inequality. Workers feel like they are being frightened out. Was twitter what was twitters respective twitters perspective on this . Is the company basically says that is bogus. Have not decided to stay in San Francisco if it werent for these tax breaks. Talking 2011, we were on the for java a major hiring binge. Senseld not have made with them the way they were in San Francisco. It isnt just twitter. Than oneking more Dozen Companies that have decided to locate to this area. You have dolby, you have huber, square. The city leaders argue that this was a long view. The city actually comes out on top. Job, has it been translated into a revitalization of that area . It certainly was a blighted area. A look at this vacancy rates from 2010. It is above 30 in this area. In three years that went down to 20 . It certainly made an impact. What you cant see behind the camera is i have a new Apartment Building on the left of the camera. It certainly does look like revitalization. The question is is that better or is that worse . Hughesmbergs megan joining us from outside twitter headquarters in San Francisco. Thank you. Lets check some of the top stories we are following for you in this hour. A submarine is hunting for that missing malaysia and jet. The sub surfaced with no new clues when it exceeded its maximum death along the floor of the indian ocean. 21 in crews sent bluefin there to begin scouring the seabed for that missing boeings, boeing 70 77 777. You have until midnight to file your 2013 tax returns. Internal Revenue Service had received about 100 million returns last year. What itabout 75 of expects to receive in total. The average refund is about 2800. Lunar eclipse last night, it is called a blood moon. The full moon turns a coppery red that passes in the earths shadow. Be four more blood moons between now and september 2015. Climate change is warming up our nations to the north. Canada hit a record high last year. Allen is me now joining me now from washington. There and whaton is matter . What you are seeing is a major investment of companies into what they see as a ential emerging canadian last year provinces of canada reduced less than 100,000 acres of corn. Think that dupont will increase by a factor of 20 by 2025. They want to take advantage of what they see as a potentially big market for corn. What implications would fordian corn valleys have not only trade the economy as well. I was talking with a partner outside of manitoba. When he started growing corn in 2008 he said he was the or this north guy growing corn. A truck coming with u. S. Plates delivering to canada every to minute or so. This country is becoming selfsufficient. That happens you can again look at exports. That affects the message and nearby International Competition and affects Global Markets as well. Obviously affecting the Global Market as well as the weather. Look at the prices in chicago, soybeans is up a bit because of export demand. You see corn and wheat going down because the weather so far has been decent. This is all true in certain parts of the country more than others. The corn belt may be doing well but we still have problems with drought in california. You are aware it is pretty cold here. This could lead to some destruction and supply disruption in some supply chains for the market is the biggest tradeoff, so far it looks good for the u. S. Is far in the season. Luxe what about through the end of 2014 . What does it look like . I just saw a report from you when that says we may be hitting the conditions for an el nino later this summer. Those are the weather conditions were you see the warming of the Pacific Ocean where there could be a little bit of a push toward warmer temperatures later in the year. This means moral that means warmer winters in canada. This means warmer winters in canada. Alan, thank you. Coming up, an update on ipos. There are 11 initial Public Offerings scheduled for this week. Highlight some of those companies and look for an outlook on the markets. You are watching who youre watching block online watching bottom line on bloomberg television. Its time for todays latin america reports. Ofle remains under a state emergency as huge fires continue to burn through that port city. 15 people were killed and analyst and an estimated 11,000 people were left homeless. It will take about three weeks to completely stay about that lays. Valparaiso was home to chiles commerce. This is part of the new Administration Efforts to reassure investors after intel and bank of america announced they would be cutting 3000 jobs in the country. Those cuts pounded citigroup groups to lower its vote vote forecast. It is your latin america report for this tuesday. We turn our focus to ipo, the new issues market appears to be slowing after outperforming the s p 500 for most of the first quarter. Cofoundermith is the and ipo Investment Advisor and she joins me on the phone from greenwich, connecticut. Inky for your time. Lets start with sabr corporation. Its businesses include the online site travelocity and its reservation system is used by the Worlds Largest airlines. About 50to raise million in its ipo. What are your thoughts on this offering and what might it mean for the travel industry as a whole . At 850 million kobe the fifth largest ipo of 2013 of 2014. Therobably fits into current narrative, which is lets find more stable cash flow, cash flow Generating Companies that pay a dividend. Is ofk that is one that interest to those fundamental investors to are looking at strong cash flow stories. The company has 3 billion in revenue. The story here is an older engine behinde the travel agencys booking for hotels and airlines and converting to a host business where hotels and airlines can directly booked through them. There is a little bit of the Technology Change happening. In the meantime you get the cash flow to cover your risk. You talk about a current narrative. Aboutmpany plans to raise 201 Million Dollars in its ipo. What does it bring to the market and what to independent investment banks offer in terms of a pickup and overall dealmaking . That company i call him the and and a rainmaker. It has produced extraordinary. Rowth they Just Announced their advisor to the tia crowds. This company has done a good job. They are also planning to pay a dividend. There is a yield of 2. 5 on this at the midpoint. They are growing faster than the other independent advisors. We know him and a can be cyclical. Int is a risk that they are a slower part of the cycle. We look at it relative to greenhill and i think they are all they are offering it at a valuation that is an discount for greenhill. What is that funds telling us about the current environment and about the timing of these deals and do you think the window of opportunity is it still open . It is the renaissance ipo etf. Basically that is a portfolio of all the companies that have gone public within the last two years and it is among the largest and most liquid once. Those companies are already trading. Investorshows you how are doing who invested in these companies. The performance had been outstanding through 2013 and all the way through march 2014. Once the etf started to underperform the market, that was a signal and should be a signal to the ipo issuance it will be hard to get ipos done unless it just didnt pricing. In postipo trading investors are making money. We would look at the etf and look for an upturn in it as a sign that the marketplace, the window will open for upcoming ipos. We are currently in a very challenging ipo market. Do you believe investors are going to push back on ipo pricings . What are the going to be looking for . Ininvestors are losing money the current portfolio of ipos. They are not going to look at new ones that discounted pricing. Last week 16 ipos were supposed to get done. Seven of the 10 broke their ipo price. Today. Priced those priced severely low the range severely below the range and we call it the ipo version of breaking bad. Get enough of a discount in these upcoming ipos this will affect the mullis, the sabr, and other good companies, they are going to have to come at discounted prices. Kathleen smith, coprincipal of renaissance capital. Inky for your time. We appreciate it. You for yourk time. We appreciate it. We head back to boston, a moment of silence followed by church bells, the moment the bomb exploded at the Boston Marathon one year ago today. The city of Boston Holding attribute for last years victims. For lastg a tribute years victims. Automakers are gathering at the new York Auto Show, which gets underway tomorrow. Live coverage includes matt millers interview with subaru ceo tomorrow. We will also have a chat with dave zukowski. Stay with bloomberg for the latest on the new York Auto Show and stay with us. We will have a another check of the other side of the break. The s p 500 is up half a percent. We will be right back. Get the latest headlines streaming on your tablet and on bloomberg. Com. That does it for this edition of plot this edition of bottom line. Think you for joining us. On the markets is next. It is 56 past the hour which means bloomberg is on the markets. I am julie hyman, lets take a look at where stocks are trading. Half an hour ago we saw some selling in the markets. The nasdaq is actually positive right now. It has been in the been a little bit of an odd day. We saw a bounce for all three major averages. Take a look at the untreated is to get a look at what we have seen here. Really coming. Goal to where we started out this morning. Take a look at what is going on in the treasury market. Earlier when we were seeing selling in stocks we were seeing buying in treasuries. That buying continues but at a slower pace. We are seeing selling right now. In terms of what we are mock are watching, were keeping an eye on mullis. It is scheduled to price its ipo tonight. They hope to raise 200 12 million in a share offering. With recent market volatility this may not be the best time to go public. Joining me for todays sector report is Bloomberg News is leslie picker. It is mullis, correct . Correct. What does demand look like . We have seen a rockier and Broader Market more recently. But for some investors over the past couple of days and what they told me is this is not as easy of a story to sell when the markets are this volatile. There are some companies that can do in ipo in any market. A difficult sell because of a few things. They will maintain 90 of voting control. The shell holders do not get much of a say. Also the majority of the proceeds are going to be paid out to the partners in the form of onetime payments. They are not good to be invested in the company for future growth. That is another concern. It may be a bit more difficult to price this deal given those factors and given what we have seen. It has been a hot time for deals. A hot time for Capital Market businesses since we are talking in the sector report here. For a particular independent Advisory Firm and has been doing pretty well. They have. We were looking at mullis a couple of weeks ago relative to comparables, which are close to theyhill or ever corporate have fallen at least 11 each over the last month. They have taken a little bit of a hit with some of the market selloff. These are the types of stocks that are pretty. They move pretty extremely if the markets are up. A lot of exaggerated moves versus the market data we have been seeing. Exactly. , you mentioned greenhill and ever corporate those companies have some challenging ipos, or at least close to ipo performance. They have recovered a bit since then with the market gains this year. Both of those ipos took place before the financial crisis. This is the First Investment we are seeing go public since the difficulties during the financial crisis. They recovered over the course of the year and now they are looking to come out. It should be quite telling. Isquite telling what demand given that benchmark. We appreciate it. We will have more on the markets later, street smart is next. Certainly been a volatile day for the markets. We are recovering from earlier losses we saw. Tech stocks in positive territory. We do have earnings come out at yahoo and intel a big day ahead. I am trish regan. Starts now. Welcome, everyone come into the most important hour of the session. 59 minutes to go. Marissa mayers latest test. A reason to hold down