What a deal would mean for the obama administration. It will get to the stories in a moment, but first, some of the other stories we are following. The u. K. Campaign for Prime Minister is formally underway. Parliament was dissolved and David Cameron says britains face britons face a stark choice. He says Labor Party Leader ed miliband is not fit to be Prime Minister. Cameron i know what this world needs, and frankie, i do not think ed miliband has it. Some people might say, do not make this personal. But when it comes to who is Prime Minister, the personal is national. Mark mr. Miliband told Bloomberg Television that businesses are concerned Prime Minister cameron will take the country out of the european union. He said the labour party is committed to staying in. The u. S. Economy may not be able to keep up the momentum after its best quarter since 2006. Consumer purchases rose less than projected in february. The increase was just 0. 1 . The weather may be responsible for some of that. Frigid temperatures and snow in the northeastern u. S. And midwest keeppt shoppers at home. There will be stricter testing of pills at the largest retailer of dietary supplements, part of a settlement between gnc and new york state. They were accused of selling supplements that were fraudulent or contaminated. This is a victory for the new York Attorney general. He has been trying to rein in the oral supplements industry, which is a loosely regulated market. That is a look at the top stories this monday. Diplomats are working around the clock to reach an accord on tehran past Nuclear Program before tomorrows deadline. Russian foreign minister search a lavrov has left the talks saying he will only return if a deal is in reach. We have team coverage. Peter cook is following the elements in washington. We begin in switzerland with Indira Lakshmanan on. Good evening. Indira good evening. The only big question here is deal or no deal . We still dont know how it is going. We have got 24 hours down to the deadline of march 31 that was set by the United States and its partners in these negotiations back in november. At this point, every Single Movement of a foreign minister every word that is uttered, is being analyzed and pored over as if it was a magic tea leaf. We do not know if we will get a deal or not. The Russian Foreign minister said he is not coming back unless there is the possibility of a deal. That may be a bellwether for us. The Chinese Foreign minister said he thought something could get sorted out. We are on the edge of our seats and do not know which way this is going to go. Mark peter cook in washington, what is the mood . There is a lot at stake in the political arena for the obama administration. Peter absolutely. The same waiting game happening here in washington. The president did travel to massachusetts for that ceremony for the Edward Kennedy library up there but we have been told from the white house that he is being regularly briefed on what is happening there, and on occasion has been weighing in with his own thoughts on some of the issues that are still outstanding. This is a white house waiting like everyone else. Congress is out of session. We are also hearing from rumors of congress, some of them offering criticism for a deal they have not yet seen, that has not been reached. Others encouraging the administration do not push so hard for a deal right now. Be prepared to extend talks if necessary, rather than sign a bad deal now. Mark do we have any idea how president obama is being briefed on the situation . Is he getting involved in talks . Peter he is getting involved. Word from the white house is, he is getting regular updates from his staff on what is happening in lausanne. On occasion, he has been asked to offer his input on certain decisions. We know there are some outstanding issues. Indirect can walk through them. There has been talk about the pace of sanctions relief. If there is a deal, how quickly would sanctions be eased on iran . There has been questions about the research and developing component. What with the iranians be allowed to do with their technology, going forward, if there is an agreement . Whether or not the president s weighing indirectly remains to be seen. But there is no deal yet. Anything is possible. There is a lot riding on this for this president , secretary, and administration. Mark there is also a lot riding on this for the republic of iran. What is it the iranians are looking for, besides sanctions relief . Indira that really is the one and only thing they are looking for in this deal. Of course, they also want international acceptance. They want to and their isolation from the rest of the world over this disputed Nuclear Program which has seen them outside of the International Community for about 20 years. The number one thing they are demanding is sanctions relief. They wanted immediately. That is a major sticking point. The United States europe, and other members of the Security Council do not want to give immediate, permanent sanctions relief. They want to do it in a phased way a wavy sanctions can be snapped back. Iran is not happy with that. Rmb is also an issue, and what is going to happen after year 10. There are a lot of things that remain to be resolved. Whether we get a deal or do not, i think john kerry and president obama have a major uphill battle ahead of them in washington. If john kerry comes home with a deal, they are going to have to sell that to congress, which is very skeptical. They will probably get an oversight bill slept on them. If they knew not do not come back with a deal, new sanctions could cause the talks, if extended, to collapse. A lot is riding on what could be the president s signature foreignpolicy of publishing if he gets it. Mark the oversight bill, is this a question of if a deal is reached, it is not really a deal, because congress may type president s hands . Peter it remains to be seen what capacity pass the congress, and with how many votes. The president has threatened to veto one of these oversight bills, the corkermenendez bill because he thinks it would undermine the talks, undermine the progress. There are 67 votes in the u. S. Senate, democrats and republicans and a president ial veto could be overridden. That is the risk for the white house. They feel confident they can knit this in the bud if they have a nip this in the bud with the skeptical democrats who could decide the fate of congress. Mark peter cook and Indira Lakshmanan joining us. Thank you both. The risk of greece thinking under the burden of its debt has increased. Repayments of about 542 billion owed to european taxpayers, rescue funds, banks, and bondholders are in jeopardy. Joe weisenthal joins me here in studio. Thanks for your time today. Three european officials asked not to be identified. They said greeces proposed plans to fix finances still need a lot of work. Why is greece having such a hard time convincing international creditors, namely germany that it can get a deal done . Joe i think that is the lack of specificity each time. Greece seems to be moving closer toward saying exactly what it will do, but still has not gone that far in detail. Then, there is generally a lack of trust. People feel the greek government cannot commit by what it says it is going to. The European Partners know there is a lot of Division Within prime mr. Tsiprass own party. They have not established credibility with partners that says, we are willing to have outsiders observe us so we can get funding. Mark as far as Prime Minister tsipras is concerned, are cuts off the table . Joe that is the problem. What the greek and European Partners want strikes at the core of what tsipras is about, no cuts. There are things i am sure loyalists will not like privatizations and so forth. A lot of reforms are higher taxes on the rich, a luxury tax. That would probably raise revenue and be in keeping with what the party wants. Mark there is a graft of the greek proposal. Athens expects a net increase in receipts this year. The biggest chunk is coming from the intensification of audits on lists of Bank Transfers and offshore entities. What does that mean and how would it help . Joe there is a believe in greece that people with a lot of money if they taxes, get their money out of the country. Mark there is gambling going on . Joe there is probably opportunity for increased revenue by cracking down on these transfers and other means by which wealthy greeks invade taxes. It will not be everything. I imagine the greek government has a higher number in mind in terms of what it expects to collect. But that is probably an area they could improve on. Mark one of the problems they are facing now in greece is that citizens they are pulling their money out of the banks. If that continues to happen en masse, will any of this matter . Joe that is part of a bigger issue. Ever since the electoral chaos started late last year, greece has been making progress. The economy has been turning around. But all of that has been shot over the last few months. The economy has sputtered. Money is leaving the greek banking system. Any fiscal surpluses the country is running have almost certainly gone negative. Greece has set itself back over the last few months. Mark to be continued. Joe weisenthal joining me with an update on the situation in greece. Appreciate it. Coming up, Comedy Central makes a surprise pick. Details on who will succeed john stewart on the daily show. Mark early results in nigerias president ial election over the weekend show a tight race. Front runners are president Goodluck Jonathan and the former military dictator general mohammed abu hari. The Housing Market in the United States may be picking up before the spring selling season. Pending home sales in february rose much more than forecast, to the highest level in more than a year and a half. Buyers are taking advantage of Mortgage Rates that are still near record lows. A South African comedian will replace john stewart as host of Comedy Centrals the daily show. Trevor noah a new correspondent of the show, has been on just three times. The Viacom Network considered a range of betterknown candidates. Stewart says he is thrilled by the choice. After 17 years he will be stepping down sometime this year. That is a look at the top stories we are following this monday. Coming up on Bloomberg Television at 2 30, we will have the close of oil trading. At two 40, we will go to mexico city for todays latin america report. At 2 45, oil industry pressure on scientists regarding fracking. Coming up, how Silicon Valley will change after the verdict. Mark welcome back. This is bottom line on television and streaming online. The case of ellen pao versus kleiner perkins, caufield and others may be over, but the conversation about gender bias in the workplace is just beginning. A jury of six men and six women rejected ms. Paos clay and she was discriminated against at one of the most powerful Venture Capital companies in Silicon Valley. Sarah, what is Silicon Valleys reaction to this verdict . Sarah it is very interesting because as i look at my twitter feed, talk to people in tech everyone in San Francisco is talking about this right now. It seems clear that although kleiner won in court, they have lost in the court of public opinion. He will really think the way they portrayed ellen pao, the way they went to court on this shows some actual issues at the firm in terms of how they reward promotions and evaluate women. It has gotten people thinking. Whether or not ellen paos claims were legitimate the jury thought they were not other women have talked about their stories and perspective on discrimination. Mark why did kleiner take a reputational hit . Was this a big firm against one woman who has, i guess, in their opinion and the opinion of some the audacity to speak out about what she saw as bias . Sarah what i have heard from other women is just the fact that they spent so much time so much of their resources discrediting her, trying to paint a picture of her as a liar who was opportunistic. That was their main case in court, that this woman should not be believed was not good enough to have succeeded at the firm anyway and if they are putting all their effort into saying things like that about somebody who used to be a partner, that does not slide so well. Mark this case was very polarizing. Why did it get so much attention in the Tech Industry . Sarah this is one of the first times a discrimination case like this has really reached the public. And this discussion has been percolating for a very long time. The year after ellen pao file her case, Sheryl Sandberg wrote lean in. We have people releasing diversity statistics apple, google, facebook, releasing statistics that show less than 30 of their workforce, in some cases, is female. So there has been this momentum here in Silicon Valley, and it has not really been discussed in such a manner were both sides get to fully explore all the evidence and go through it point by point. And so whether or not whatever the verdict was however this plays out after this, people have started to talk about how this shapes their perspective, how they can move forward. Mark speaking of shaping perspectives, we did hear from some of the the jurors after the verdict. What was their sense . Why did they vote the way they did . Sarah a lot of it was he said she said. Several power was saying, this is how things happen to me and i felt discriminated against. Kleiner perkins comes on the stand and says, she is lying. Without firm evidence, how can you say definitively that it is discrimination . The other factor here is that Venture Capitalists its an industry where the metrics for success are not very set in stone, right . The investments they make are supposed to have a return over seven years, 10 years, so the year by your performance is not really what determines whether you succeed or fail. It is how will your colleagues like you, in many cases, whether Companies Want to put you on boards whether you bring more deals into the firm. All of that is very subjective so it is difficult to say definitively that ellen pao was good or bad at her job. Mark are we likely to see similar lawsuits against Tech Companies and Venture Capital firms . Is there a danger that the outcome of this case will keep women from speaking up . Sarah it is twofold. Women in Silicon Valley already feel if they speak up, it is a liability. That they are forever stamped as an activist. That their careers may be hampered. But maybe not as a result of this case, but in conjunction, we have seen other suits popup. In the last couple weeks, a suit against facebook and a suit against twitter. People are coming forward and saying, regardless of the verdict here, i do want to make my story told, and i do want to be part of this momentum right now. People are starting to realize what are the factors of discrimination saying, that is what is happening to me. Mark we have about 30 seconds left. What is next for ellen pao . Sarah she is ceo interim at reddit, the Popular Online for him. Forum. She spent a lot of time on this case. Closing arguments, she was smiling. She was so ready for it to be over. I hope we will see her around. I hope we are not been hearing from her. Mark sarah frier covered the ellen pao trial in San Francisco. Coming up, we look at how an online retailer is disrupting the Luxury Retail market by allowing customers to preorder tomorrows fashion today. Stay with us. Around here, were all about fast. Thats why xfinity is perfect for me. With millions of wifi hotspots all over the place including one right here at the shop now we can stream all things fast and furious. Youve done it again, carlos with the fastest inhome wifi and millions of hotspots xfinity is perfect for people who love fast. Dont miss furious 7 in theaters april 3rd. Mark welcome back to the second half hour of bottom line. The group of crude oil and the close of trading. Crude done more than half a percent. Trading at 40 858. Advancing on the last stronghold of yemen in battle president the four city of aden. At least 14 people in many as 40 reported killed in aerial assaults on a refugee. The spokesperson for the saudi Light Campaign says Coalition Naval forces have to leave the countrys court. The naval forces are blocking the move of the ships to prevent weapons and fighters from entering or leaving given. Tim cook warns there is something very dangerous happening across the United States. An opinion article the openly gay ceo of apple announced a bill signed into law last week in indiana. Critics say the law will allow businesses to discriminate against gays if this status for religious reasons. He says there were almost 100 bills being considered that would make discrimination legal. Mike pence called the criminals that discrimination shameless rhetoric and the intent is to protect against government overreach. Tiger woods has fallen off the list of the worlds top 100 offers. The biggest moneymaker ever has not played in a tournament since dropping out of one last month. Tiger says he will not play again until his game is internet shape. That is look at the top stories this monday. Mona offer randy is a highend fashion retailer that allows customers to preorder looks directly from designers immediately after the runway show. The fashion director of the company and contributing editor to vogue jointly in studio. There is the traditional commerce recite site and then what you do. Is this an opening and you saw other people tonight. Everyone calls us disruptive. This was the way women were shopping that was the much more refined way. Its a place in a boutique or department store. It was going to set actually dealership steamership. They were open to only select women, and usually those in figure cities. We opened it up by putting it online to a much larger group of women, and International Group of women. Mark seems like something that makes a lot of sense. Are you surprised no one did it before . I think people forgot about the trunk show, and something that was a great asset and service and something women were really use to using. Something i was quite comfortable shopping with. So it made perfect sense to really bring it back and to modernize it and put it online. Mark who is your target customer gekko who is your demographic an international woman. Multiple home since the multiple languages. She is interested in the art and culture in love fashion and fashion is either a passion to her or something she looks as part of their business or something she is very passionate about. Mark is your strategy and modernday version of poker coulture . A woman goes down the runway and the women are able to preorder. The looks are not made specifically for her. There is definitely a demigod to her way of service. Intention of service. Usually the response was how has no one than this yet . The next thing was talking about the customer. The customer is something someone i understand very well and service an amazing experience, fundraising experience. He completed a series e round which we recently closed. People ask very tough questions and were able to really get into the business and where we are going. Mark have you make the customers experience this role . They cannot touch the garment. They cannot feel the garment. How do you make an emotional connection through and out . Through an app . A woman is actually able to touch the screen and zoom in. We do understand a woman does want to interrupt with close. By being in person we are able to provide a certain amount of service, so we are moving into showroom. We opened a showroom recently in london. Looking at places in dubai and london in new york city. You want the balance between them, but i believe online one can get the same experience with fashion. Also received the same amount of service. How is digital helping you to expand the Brand Partnership . It is incredible, to reach. These trunk shows used to reach a very small group of women in a very small town. What we are able to do is take the runway, whether it is new york and london and then the long and paris. Milan and paris. Or a young designer. We are able to get these designers an incredible platform to show their collection to the entire world which normally it is just open to industry insiders. Mark some of the research i saw, some of the exposure involves going backstage during an interview in getting that connection to the potential customer as well . Back again, it is about access. It is the bigger brands, but also the emerging talent coming out of places like london and erlang and really exciting innovation. What we want to do is connect this woman. She is really your name for something she cannot get anywhere else. A lot of times what she cannot get anywhere else is the emerging brands not widely as tribute it. Personally, i love connecting the two. Mark this is about the women. What about the men . Everyone is asking, and we will start looking at it. The men have collections just like the women do. The looks that go down the runway are often times impossible to find. They are not widely distributed. Critiques and Department Stores are not necessarily biting into those. We could connect the men to the looks that go down the runway that they may not otherwise be able to have. Mark possibilities are endless, but what are the risks . What investors looked about this is the low inventory model. When the looks down the runway a woman is able to preorder the look. The designer makes the item for her, and we ship it to her. So the risk of the low inventory model, the low risk is particularly appealing. Another risk i suppose would be returns. Items are returned. We have an incredible stylus program and we really believe in women making the educated purchases, the right size for the right season for the right lifestyle. The return rate is considerably lower than most online websites, because we put such great care and helping her make the right order. Mark highend fashion retailer online. Thank you. A pleasure to meet you. Coming up, look at the impact of the strong dollar and chile. The latin america report life for mexico city when we return in just a moment. Mark welcome back. Time for latin america time for todays latin america report. Good afternoon. Good afternoon mark. Very good to you again. Starting with chile where the bank raise the inflation forecast and said the Interest Rate would probably be higher than forecast analyst who see no change in the next year. Inflation will end 2015 at 3. 6 compared to the previous estimate of 3. 8 . The bank said in the quarterly moderately monetary report it would increase the price. One of the reasons is the appreciation. In brazil the Sao Paulo Exchange plan for the first time in three days after policy makers in china signaled they are ready to extend measures to stimulate the economy. The best book rose to 1. 9 in sao paulo. This after Chinas Central Bank governor said the growth rate is a bit too much. Finally, sony announced they will close one of its plants in the country for next. The factory part of the sony distribution arm produces cds dvds and blurays in mexico. Sony has said it will find another manufacturing supplier for the next following weeks. These are the top stories making latin america. Back to you in new york. Mark jose, thank you. Thats your latin america report for this monday. Cme storage futures. The Chicago Mercantile Exchange has come up with a way for Energy Producers to have storage facilities. Alix steel will fill us in when bottom line continues in just a moment. Mark greeces proposal to allow the next round of bailout money still needs a lot of work according to european officials whose ar15 page draft proposal is short on information and details. Greece could run out of money within weeks without the new bailout aid. Teva pharmaceuticals buying offset pharmaceuticals for 3. 5 in cash. This can cure takes and other movement disorders. This is a 2 above the Closing Price friday. The National Football league is making its hospitality and youunit. The new Holding Company will be called newco and will provide bands are us to events like the super bowl in the graft and more. That is a look at the top stories we are following on this monday. Coming up, scarlet to joins us with off the charts. Scarlet fu. Time now for the commodities report. Su keenan is in the newsroom with details. Su oil and gold lower as talk strengthened with the iran nuclear talks. As long as the talks continue, this will be a headlinedriven market. Similar things happen with opec. All of a sudden these guys were moving. Oil as low as 37 and change after rallying above 52 the weekend. Interesting interestingly have volatility last week that came as a surprise to bearish traders caught off guard by the bombing of yemen. We saw oil surge for todays. Now all about iran, traders say. There is a view that negotiations are divided over easing sanctions. It is all about the countdown with the deadline. The big question, will the deal be reached . The state Department Says 5050. Weve seen it come back close to even. Mark a new commodity product hits the market today. This is now offering trading in storage futures. Alix steel joins me now. Why is this happening now . Alix you can trade storage futures. The reason so much oil and not enough room to store it. Just last week a massive crude bill of 8. 12 Million Barrels the biggest increase from cushing in the midwest, about 80 of capacity. Well above the fiveyear high. Part of that is financial syria it helps if you hold onto oil longer and sell in the future. The other part is refiners have been out of business for a while. They have been using less crude. All of that building up. Where there is money to be made and you know we will see exchanges in there. You can go in by the storage certificate or you can go and turn it into a futures contract at the cme. The oils will be stored on the gulf coast. This option will take place every tuesday of every month. The hope among participants is that it will create transparency. We will all now know how much it does cost to door 1000 barrel of oil. That is how much it is force that is how much it is for. Otherwise there is no way to know what it is worth. It is going to be stored with loop on the u. S. Gulf coast. They have about eight underground caverns created out of salt owns. How cool is that . That can store 60 Million Barrels of oil. That is where the oil will eventually come. Mostly from producers in the gulf coast in texas. Only heavy crude not the light sweet that we had here in the u. S. Mark cant to management, alex wants to go on assignment. Hint to management. Alix were going to be talking about oil and iran. We will talk to can book. Do not miss it. Shameless plug. Mark alix steel top of the hour. Stay with us. Scarlet fu will have another addition off the chart on the other side of the break. Bottom line continues in just a moment. Mark new yorkers like to complain about their long commute. Scarlet fu joins us and off the charts. No we dont. Startcarlet lets look first at how much people here work versus the rest of the country. This is the Monthly Economic brief. The average work week is 42 hours 3 50 minute. If you add the layer of how much time it takes to get to and from work, new york total now up to 49 minutes eight minutes. So for new yorkers, six hours 18 minutes right commute into and from work each week. Mark that does not count the medication you are taking because you are so angry. New yorkers spending more than five hours on average. Is it really that much to commute . Scarlet it is. Ive looked at a couple of work week where it is longer, San Francisco and washington, d. C. Chicago and los angeles shorter. Detroit has the shortest workweek out there. Just over 41 hours. Once you add in the commute it is a whole different story. New york at the top once again. A dubious first prize but first price nonetheless. 49 hours working or commuting to work. Even in l. A. , traffic jams only four hours 38 minutes. Mark in la, you do not have a car you are lost. What are we talked modes of transportation . Has to be some way. Scarlett 46 rely on the subway. Ferry boat takes the longest. The focus on staten island. A small proportion of total commuters. This than half of 1 of all new yorkers commute to work. 14 hours per week they will never get back. You can see their 11 of new yorkers take the bus. Thats on average takes eight hours per week. I thought that was rather interesting. People prefer to take the bus over the subway because it is cleaner and do not feel like you are trapped. Mark what about people that walk . Scarlet you walk and then take the subway. Perhaps given what we just thought, you take the ferryboat and then have to change the subway. People that are lucky enough to just walk to work that is the shortest commute. Thats only accounts for two hours 40 minutes per week. Listen to your iphone and block out everything. Taxi three hours 13 minutes. Bicycle interesting. Only 1. 3 rely on a bicycle to get to work. I have no idea. How do you get to work . Mark carefully. New jersey transit, my favorite. The latest headlines at the top of the hour on Bloomberg Radio and streaming on your tablet and that bloomberg. Com. That does it for this edition of bottom line. The tao advancing the most in eight weeks. Stimulus measures from china as well as recordsetting mergers and buyout. Plus, the Greece Bailout plan down to the wire. Will athens get the money it needs today