Details, coming up. And my producers will once again try to stymie with tonight mystery guest. Stumped me with tonight mystery guest. But first, carol massar. But citigroup stock rose stock rose four percent today. , ceo, andcofounder its largest investor have no land to sell shares. The company made the to stopment as it seeks concerned that it will flood the market. The post and the guardian reported that the nsa had collected data on u. S. Residents. Thanks very much, carol massar. Google is adding drones to its fleet of robots and driverless automobiles. The company said it has acquired Titan Aerospace. This is a company that provides customer access to Data Services around the world. For more, we are joined by brian womack. Great to have you here. I wonder if you can detail exactly what Titan Aerospace gives google. But they have given drones, as you said. Google is now in the drum business, if you will. But there is supposedly this effort to be good with it. They are trying to spread Internet Access to folks around the world. These drones give of secure give access to a secure places on the internet. Of course, these drones have many more applications than that. Little bit about where this fits into googles strategy. You say, giving people access to the internet all over the world, but does it also mean that google will be able to determine where you are, what you are doing and what ads they want to serve to you . Has definitely been that concern that has been brought up. Now google has another way to see where people are and what they are doing. We dont know what all of this means, but there is definitely concern out there about the privacy implications. Google needs to find more folks to get on the web, so they can show them more ads to grow their business. Google is so big and has dominated so big a part of the internet that it needs to find more people to make the internet even bigger. This is part of that effort. Looking at some of the pictures of the Titan Aerospace altitudeis is a high aircraft. It also has solar cells. Is there a reason why they picked titan . Is it because of the long longevity, or because of the highaltitude nature of these drones . Apparently, they can just fly for a long time. The solar powered panels give them energy to keep going, so they can continue to do voice and Data Services, so they can take pictures. When you are doing Something Like this, google needs to have not just a plane that can buzz around for a few minutes, but something that stays up there consistently because you want to be able to access the internet. You need your plane up there to basically provide that. That is why they are doing it. Is google also urging the u. S. Government to come out with some rules and regulation at about the commercial use of drones . Been of companies have waiting on this. Yes, that is a big question out there. Google and a lot of Technology Companies are moving quickly. Facebook just recently bought company in this space. How long that shakes out in the regulatory front will be interesting. Frankly, i think there is a bit of catchup going on right there, not just here in the u. S. , but around the world. Thank you very much for joining me. Bloomberg newss brian womack joining me from San Francisco about the purchase of Titan Aerospace. Attention torn our twitter, another online company. It is seeking to ease tensions accusationsfter that they are refusing to abide by turkish law. Her member, turkey banned twitter. Here to help us understand the relationship between acknowledging companies and the government in turkey is umit cinali, joining us from washington, d. C. Thank you for joining us. I wonder if you can give us a bit of background about Technology Companies in turkey and the power they might have,. R post to the government Technology Companies have been around for a long time. In the case of cisco, weve been there since 1987, and we very much been part of the transformation. And recently, there have been a couple of issues right around the election. But the Movement Impact on our business as far as the technology has been minimal. If the government of turkey shuts down the social media site twitter, what does that tell other Technology Companies about the way they do business in the country . We can freely express the fact that we are for unreserved access to the internet and that is very much recited by the turkish president. He was one of the first to bypass the system and to access it through twitter. Affectly, it does not the ongoing business, the daytoday business of the company. All countries are effectively struggling, or at least not struggling but trying to figure out ways to deal with new media. Some extreme measures are sometimes taken. Run, i think the courts will decide on the side of freedom of speech and unrestricted access. Tell us about the growth of Technology Spending in the country after key. Basically, the country has in the country of turkey. Basically, the country has tremendous spending. Technology spending is what we informationnding, and communication Technology Spending. It has been around the 30 million mark, which has been considered low. Given that turkey has a population of 77 million come of which 50 are younger than 30, so a young population, and very much in favor of adopting technology. Have one plus million Small Businesses that are now becoming part of the useeconomy, the youth and demand for technology will go up. Turkey has grown so far very steadily, and excess of five percent average per year. But i think the next level of growth will be a transformation and ite of efficiency will require more investment in technologies. I think the government of turkey does realize the need for that and has Ambitious Goals for 2023, which is the anniversary of the turkish republic. That is only nine years from now. And the goal is to bring that 30 billion up to 160 billion dollars, which is significant growth. And it will affect policy as well as Technology Investments in the country. Thank you for sharing your thoughts with us. Umit cinali is the general manager for Cisco Systems joining us from washington, d. C. I will talk to the chief executives of two firms about Cancer Research that they are working on. My mystery guest is in the gaming business. Mergers and acquisitions. Deals are up in value by more than 50 compared to her year ago. Today, theres a big deal in the biotech industry. Movinges of neostem higher by about six percent, this after they agreed to by california stem cell. Im joined by the chief executives of both companies, dr. Robin smith, and dr. Hans keirstead. What exactly does california stem cell do . A treatmenteveloped for late stage melanoma, in the origin ofe the cancer and enter a five those cells. We teach the blood system how to recognize them, and put the educated blood back into the person and it ripped it written that individual of cancer and it rhythms that individual of cancer stem cells. Are you also doing Cancer Research . Absolutely. We are looking to develop therapies for cardiovascular disease as well as autoimmune disease disorders, and now we can do it for cancer. When did you become aware of the work that hans was doing at california stem cell . We follow them very closely, because we have the manufacturing side of the business. We help develop a therapy for prostate cancer. We work with clients to develop therapies and we are very excited about this approach to making a therapeutic vaccine for cancer. Give people an idea of what trying to do is in assembling a variety of therapeutic advances. But we are looking to take cells from the body and go along the normal biological process of repair and amplify that and help people heal themselves, if you will, with their own cells. We turn a cell into a therapy and that is what we are developing into different areas where we think we can repair damaged tissue and restore function. Instead of treating symptoms, we are looking to cure a disease. I was like to get an understanding of the stem cell industry. There is always controversy surrounding the use of embryonic stem cells. I wonder if you can give people a little detail. Sure, there are different sources of cells. There are embryonic stem cells and adult stem cells. Those are cells that can come from the fast or the bone marrow, or from placenta cells or umbilical cord. Those are considered adult stem cells. The idea is to take these cells that have become us as we grow and develop and use them to repair tissue as we create all cells in theof organs that have been damaged as we age. Hanh, will it be possible that you can actually replicate organs that will no longer be . Ejected by the body if youre able to set aside stem cells before they develop problems echo. The field has made some advances, but has a way to go before threedimensional organs can never be generated. But what is the next challenge for the stem cell does this . What is the next challenge for the stem cell business . Iti think it is getting commercially running in a viable way. On theg us uptodate trials being conducted right now involving the work at california stem cell. We just finished the second phase of trial for melanoma. We treated 96 humans that had late stage melanoma. Skin cancer. Skin cancer that has metastasized and left their skin and has begun to manifest throughout their body. What we have done is develop treatments from within them, stem cells from their tumors, and vertex cells from their blood, and combined those things together and put it acting to , and educated immune system that learns how to byognize and destroy heart of the cancer. The results have been pretty phenomenal. Haitians treated are alive after two years, compared to 30 of patients treated are alive after two years, compared to 30 in the control. 72 and 30 . A phenomenal difference. Is this expensive work to take on . It is very martial he viable. In our discussions with agencies, this would be covered by insurance. Any idea what you would want this company to grow into . Any dollar estimates for what you would like to see, a longterm plan . If we look at other therapies fromothers are working on an omen, it is a billiondollar industry. There is a large market. A top of that, this is Platform Technology that can be used for other things. The idea is to move away from just killing cancer cells to focusing on killing those that can replicate, that caused the tumor to come back or have different metastases. It is the initiating cell that we need to kill to cure cancer. I want to thank you both very much for educating me. My thanks to dr. Robin smith,. Nd dr. Hans keirstead coming up, tax deadline filing date is tomorrow in the United States. We will take a look at how married couples, including samesex couples can take advantage of some special tax benefits. That is next. Tomorrow, april 15, is tax deadline filing date. You have to file something with the u. S. Government. The insbeen looking at and outs of the u. S. Tax system. At this hour, we will examine taxes and elda di re marriage. Joining me elda di re, at this hour, we will examine taxes and marriage. Joining me, elda di re, from ernst young. We sometimes forget that theres is a whole new group of married individuals and these are people in samesex marriages. Are there ways we can help people to realize the consequences of taxes in marriage across all gender . There is no difference under samesex marriages under federal law. If you are deemed married under federal law, then you are married for tax purposes. You dont yet a choice. Get a choice. You have to file as married, and the only question is whether as a heterosexual couple you are filing jointly or separately. There issues related to where you live . Because there are 17 states that acknowledge and recognize samesex marriages, as well as the district of columbia. But others dont. State affecther how you file . How they file federal could be different than the state if their state doesnt recognize their marriage. For state purposes, it could be that they are not married and have to file as single. Or head of household, depending on the circumstances. He could have a different filing status for federal than they do state. What are some of the benefits of tax benefits of a married couple filing jointly . If one spouse has low or no income, then filing jointly, the high income earner would pay less tax. That is a benefit. There are also a few benefits, like the windsor decision was over estate taxes. A principal residence. You get a five thousand dollar n exclusion for a married 500,000 gain inclusion for a married couple versus a 250,000 gain for an individual. What are the differences in taxes this year versus last year that married couples ought to be paying attention to . For higher income couples, the rates are higher. The expiration of the bush tax cuts and the informal care act, which brought the 3. 8 net Investment Income tax and higher net income on wages, actually, it is a reaction of, wow, how could i owe that much . Because the rates are higher. Are you getting people that are surprised because when you do the calculation and you look , 39. 6 . Taxable income on 29 onercent capital gains. Any formal care act as a separate line item on your tax return. And the Affordable Care act is a separate line item on your tax return. Of people are writing checks out today and tomorrow. Or filing an extension. Paying something because you dont want to underpay and then be charged interest. Or a penalty. Middle income with old collecting Social Security both collecting Social Security, that is as much a tax issue as it is a benefit issue. If you are both collecting Social Security and you have even a modest amount of income,. Ou will pay on 85 that is an example of where a married couple will pay more tax because they are married than had both of them remain single. A reason for Senior Citizens not to get married is if they are both collecting Social Security and have modest incomes. Is that one of the consequences of the tax code . It is a marriage penalty. Wasnt consciously written into the code . I dont begin was meant to be a penalty, but they dont want to reward people for filing jointly. It is surprising how much there is in terms of a marriage penalty in different parts of the irs code. Particularly since these are just two branches of the government, the Social Security administration and the irs. One hand giveth and the other taketh away. I want to thank you very much, elda di re of the tax division at ernst young. This is taking stock on bloomberg. Im pimm fox. Taking a look at the headlines with my cohost on the radio, carol massar. Tia press is traditionally known as a Retirement Plan for new teachers. Propel iteal will into the top 20 of all u. S. Mutual funds. Sales warming up in the month of climbed, biggest gains if it is september, 2012. And disney was approved by the majority of on of shareholders for a lastminute of relativity media. That deal is exacted to close in the next few weeks. Thinks very much, carol massar. My next guest went from the dog eat dog world of wall street to the downward facing dog. Yes, yoga. Rishi bali worked as a derivatives broker. Last year, he established of yogaa, a retailer apparel. Weve got to start off talking about where yoga comes from. I was looking at your career and you have come full circle, avenue . Havent you . X yes, i was born in india and i grew up in india and i came to new york to go to college and subsequently go to work for goldman sachs. Wase i was in india, i looking at the yoga market, and just yoga as a lifestyle. I felt that there was a great value i could add, because i had the culture of yoga and i could help tilt a lifestyle around it. It was very clear to me that there was a new emerging category coming up called fashion fitness as a lifestyle. Background with yoga would help me direct a company that would bring that authenticity to new york and all the consumers here in the u. S. Lets talk about the actual fabric that is used, because that is one of the things you bring as a new company to what is an ancient art form or exercise form. About the specific fabrics, the kind of weaving and technology that goes into the apparel. Sure, pimm. One of the things we realized was the consumer, who is in this fashion fitness as a lifestyle category, is looking for a garment that is multipurpose. They want to do yoga in it. They want to run in it. They run marathons in it. But they also wanted to go to brunch and also as they lounge around their houses. It means that we needed to develop a fabric that was not only luxurious and beautiful, but also durable. When we looked at the landscape, we saw that there were some old technologies, such as nylon, that were 65 years old being used. And we said, we had to do things a different way. We needed to integrate the fabric. We developed a new fabric called trademarkch is our fabric. It is spill resistant and handles moisture very well. And it has held up well to testing. We completely sold out of for the entire year last year. And next week, we are introducing three new versions ofaurum, a lighter version, and another that we call aurum stripes. Introducing ao brandnew, biodegradable, cellulosebased fiber under our trademark. And that will be introduced at the end of the month as we introduce our been our mens line. Biodegradable. Talk about the mens line versus the womens line. Right now, you have more women customers for the apparel than men . Sure. Our Customer Base right now is women, but more and more men are joining this fitness fashion lifestyle. We believe that man does a great market for us as well. A lot of men have come and asked and they have said, why dont you make product for us . We have been in the lab and our designers have been working really hard. On may 1, we will be using our first mens line, which we are very excited about. We have a page for men at and viewers can sign up. 250,000 visitors to the yogasmoga website. Are you surprised by that quarter million number . We are completely blown away. Some product that we thought would last for one year. We blew out of all of our product in three weeks flat. We are really connecting with the enduser. Does this mean he will have to change the manufacturing strategy . Because if youre going to sell out of this stuff very quickly, youve got to be near the customer. You make your stuff for the United States. Correct. When we introduced yogasmoga, some of the manufacturing was in central america. We moved it back posted to us where we could introduce styles much faster and have a great quality behind it. We are no less than three hours away from our factory. We have a lot of amazing product that is coming on nine very quickly. Online very quickly. The innovation with yogasmoga is our supply chain, which is made entirely in the usa. We are very proud of that. We create quality in the market and we create so many jobs for the u. S. Economy in the past couple of years. What have you been able to apply from your time on wall street to putting together a yoga Apparel Company like yogasmoga . Ton i hear that, ive got think of lululemon, for example. Are those the kind of case studies that you did . How did you make this shift . What are some of the technical things you did . We are committed to quality. We said we wanted to make the best product. Does that make it more expensive than the competition . No, we are priced pretty competitively to the market. We solve the supply chain in different ways. To have a supply chain internationally, it needs a lot of staffing. We do things more efficiently, and my presence on wall street work through a Business Plan very clearly and formalize a plan that would be successful. In addition to being successful, you have to guard against the missteps. One of the big missteps, at least, for lululemon, was a series of garments that were more or less transparent. That backfired. You maintain the Quality Control . This is going back to our supply chain. Technologies that are far advanced. That is where we innovate. Our Fiber Technology is cutting edge and comes at a higher price. It is developed in the United States in top labs. We understand our fabric really well. And we put controls around our processes, because the factories are close to us. We are on the factory floor every week. I thought you were going to bit,hat you try on every or have someone tried on so you can check it out. I know you are wearing some of it now. Im wearing the new design in the mens line come a which is testament. Me on how does it work echo it feels great. This is something i can go to the gym income, i could come to a bloomberg interview in. Are you going to end up in downward facing dog wearing that one day . Maybe after. Ok, i want to thank you for joining me. Rishi bali is the founder and chief executive of yogasmoga. Coming up, see where the things you buy are being made. Sometimes they are made around the world. A transparent supply chain is part of the Online Platform called weve. You will meet the founder. Number two,t clue my guest helps make your fourstar dinner plate possible. My next guest went to southeast asia. The trip transformed her career. Trained as an architect, even lost him was restoring french blossomn vietnam eve was restoring french villas in vietnam when she came across artisans in local workshops. A stableo give them livelihood as well as helping others by these handicrafts, she founded the Online Platform and its business onply chain depends transparency. Before we continue, i want to make sure that the name is wev wevebuilt. That is correct. How did you go to this being your mission . It is a really strange story. I was in vietnam and one that, the horror of Human Trafficking was suddenly right before me. And i know of i know nothing about this issue because im a designer. I began to research Human Trafficking and what i learned arehat 27 Million People trafficked every year because of the sex trade or slave labor. It has a lot to do with job stability. It is an economic issue. Job stability in that the people are working day today. They dont know today to day. They dont know whether the jobs are going to be there. That is right. And having consistent work means they dont get themselves into trouble. Urban migration is happening all around the world and it comes and when it comes to cities, that is when they fall risk to Human Trafficking. It gives them a choice, but also gives the customer a choice on who they want to make the product. Ive us an example we work globally and we do all kinds of products from accessories to decor to jewelry. Im actually wearing one of them right now. This is reused guitar strings. It is an artisan out of new orleans. You can see that exclusive design. Isnt that gorgeous . Curated collections. One of the things mentioned is that the supply chain itself is transparent. Describe how that works. That is what we really pride ourselves on. The artisans have been trained to tell their own story, and directed to the customer. When you buy a product on our side, you get stepbystep video process of the product being made. It is really cool, because that is the transparency. You get to see how they make it all along the way, all of the materials they use, and everything. I as far as as for as choosing the items you want, whether they be jewelry items or apparel, do you as a customer get to select what it is you want . Or do you get to choose based on what is on offer . Really, we are curating the collection. We are doing Collaborative Design with all of the artisans, which is a fun process. You can go on and see what has been posted, what we are working on. And it is on trend will stop and everything on our side, the majority of it is under 100 retail, because we want it to be accessible to lots of different people. What would you like to have happen for the people producing all of these works, whether it is seasonal clothing or some kind of jewelry item . What would you like to see happen to them . We are starting this to give them consistent work. We would like collections from each one, about 12 different items. And each year, we will keep doing a collection with the same group. And as that grows and more people come to our site and by, it allows us to work with more people and more artisan groups around the world as well as do more with the groups we are already working with. One of the areas you have large participation is in the toy part of the business. You have dolls, childrens toys, play things of that nature. Tothat an area that you want focus on . We have an area that we call playful items. It can be lots of Different Things that follow fall into that category. We are working with one designer and we are connecting artists with designers with the artisans. And that is how we have changed the relationship between the artisans and buyers on the site. For example, we are doing these characters of brian andreas, an artist. They are playful and fun and sustainable. Allnatural materials, low great organic cotton. It is really great stuff for your children. The technology that allows you to do this wasnt available, lets say, 20, 30 years ago. Is this using all offtheshelf technology to create this online connection and platform . It is. And im really excited about this. 1. 0, part of the internet and i had all of these ideas about social media, trying to get groups together to make an impact on people like these kinds of groups. Becausempossible accent the technology wasnt there yet. Togo from 2000 to 2014 and use technology, like you said, that is off the shelves, it is so easy to implement this full stop it really is. What would you like to achieve in terms of profit . Forprofit venture. The more profitable we are, the more we can expand and impact more lives. It is directly related to the amount of people we can impact. I want to thank you very much for sharing that story with us. The chief executive and founder ease blossom eve blossom. Coming up next, my mystery guest doesnt cry foul over fog walk foie gras. It is mystery guest monday. I have no idea who my next guest is, but luckily my producers have been kind enough to provide us all with a few clues. You could say that my mystery guest is in the gaming business. My mystery Guest Company helps to make your fourstar dinner plate possible. And my mystery guest does not cry foul over foie gras. Lets bring out the mystery guest. Nice to have you here. Foie gras, so i want to start there. Are you a chef . That is a maybe. Are you a supplier to chefs . Yes. Raise ducks . Yes vote up you do. And do you supply major restaurants all over the country . Yes. Chicago, all over. Are you originally from france . Yes, how did you guess . I dont know. Something told me. You are originally from france. You raise animals for food for various restaurants all over the u. S. And consumers a little bit. And consumers as well. Or havell foie gras any in california . We send it to california. Are you involved in any specific restaurant there . Or part owner in any restaurant . No. Are you involved in any kind of recipe books or cooking books or anything that teaches people to cook echo i have one recipe. Is it how to cook proper french proved french food . A little more specific. A region of france . Almost. A cooking game . Yes. Im running out of time. Youve stumped me. Tell me who you are. You lost . I lost. I am the ceo of. Nl. Dartagnion. And i see that you where the wishbone necklace. Where do you wear that . Why do you wear that . So your wish can come true. Have you always been in the food business echo one way or another, i would i knew i would end up with food. Not necessarily the way i do now , im just sourcing and connecting farmers to restaurants. What is the biggest demand right now in the farming industry echo right now, it is lamp. Lamb. Ht now, it is also, organic chicken. Chicken is big. People demanding things like organic food, nongm oh items items. But there has been a huge revolution in the last 10 years. Dartagnan. A big party next year. We have seen a big shift in america. Americans want to eat well. Game meat, game birds, but also organic poultry and meats without any hormones, but also meat from animals that are humanely raised. Do you ever get telephone calls from chefs at the last minute saying something went wrong with the order, that they didnt order enough of something echo of something . You dont have to give us a name, but just a strange situation youve had. We have those everyday. A first run, second run, a third run. For those who really forget. It happened that a hearty for 50 people becomes a party for 75 people. And in the chef scrambles and comes back and says, im sorry, i have to give you have it or quail or duck rabbit or quail or duck. I need 50 more right now. Do you love the food . I love quail. I love a good, simple chicken. Just simple roasted. There is Nothing Better than that. I want to thank you. Thanks for taking stock. Good night. Live from pier three in San Francisco, welcome to bloomberg was, where we Cover Technology in the future of business. I am emily chang. Google is adding solar powered drones to their arsenal of self driving cars. We will play what they plan to do with Titan Aerospace. First, a check of the top