Just tweeted that he is apples new Digital Marketing director. We will look into what this means for apple branding. And creating exit out the chicken. There is a startup out there called Hampton Creek foods that is doing just that. Technology to create plant based at alternatives. It is all ready already using a free mayonnaise and cookie dough. To our lead story of the day, the Walt Disney Company has been on quite a run recently in its film business. We will learn more when it reports earnings today. Just had of the galaxy the best opening ever for an august movie raking in more than 94 million. Guardians is from disneys marvel studios, one of their key acquisitions in recent years. A giant like disney thrive in the digital age echo digital age . Jon erlichman is in burbank. You will be interviewing disney ceo bob iger later today. I want to ask you about frozen. This seemed to be a hit like disney has never seen before. Every parent i know has seen this movie, many, many times, probably more than they can count on two hands. What else can they do with the success of this movie . I think, if you talk about the whole film business for disney, certainly they did get a nice lift from the set of frozen. The success of frozen. It is a company that acquired pixar years ago in the hopes that it would not just breathe life into the animated part of disneys film slate, but into the studio, and it has done just that. When you think of the films that disney is winning out, the very cap putting out, the very cap related that on certain brands marvel, what ends up happening is when you see these films resonate with audiences and do well at the box office globally, which disney is hoping to do, it makes it financially helpful to all parts of the business. Certainly, Consumer Products is the obvious area and that will likely continue through the holiday season. But because of the theme park business, because they are selling lots of merchandise, because they have a huge tv operation, you are always hoping when you put out these big films that it will trickle into all parts of the disney empire. You be asking bob iger today . What do you want to know . Important in the context of what weve been discussing in the last few weeks, this issue of consolidation. Foxx clearly wants to acquire time warner in a major content deal. At the same time, youve got to massive paytv deals trying to together. Does that ultimately result in more deals . Certainly, what we have seen under bob igers tenure as ceo is a lot of deal at city. Whether it is a lot of activity. Whether it was pixar, lucasfilm, which obviously gives them the Star Wars Franchise next year, those three deals, you are talking about 4. 7 billion. If you add it all up, 15 billion. Need to do iney the context of everything going on around it . Time warner is reporting earnings tomorrow. And theres the looking question of whether disney has an interest in cnn, and what that might do to our business and what that means for the cable business at large. The parks business is overlooked. It does 15 billion in revenue. It crushes what the studio entertainment does in terms of revenue. And there are some changes going on. One of the investments theyve made is in a lot of new technology. They have this program called my magic, and not to overemphasize wearable technology, but parkgoers are able to have their tickets on a wristband, their room keys on the same wristband. Moveis allowing them to people around the parks better, give people a better experience at the park, and potentially bring more people in disneyland, disney world, and at the attractions. That could eventually mean more revenues for the parks and a better customer experience. I will be curious as to what they have to say about it. They have tried it in limited ways, but have apparently expanded it quite a bit in the last year. Disney be following later on today. Jon erlichman will have a lot more when he sits down with ceo bob iger at 1 30 p. M. Pacific, 4 30 p. M. Eastern. Time warner reports earnings for the first time and it was offered a buyout deal by Rupert Murdochs 20 percent three cost 21st century foxx. Iq joins mecapital now. What are we expecting to hear tomorrow . He already said he does not want to do a deal with rupert. Obviously, the headline is going to be you know, the main question is going to be, why not . We think there will likely be a ly better offer, anything up to 95 per share to get a deal done. Of there is also the kind consideration that foxx is offering, primarily in stock. I expect the Earnings Call to be dominated by questions around what type of consideration and what terms might be amenable to time warner. It is not enough for time warner to say they are not talking to fox, as they have done. The question is, why not . Take a listen after consulting with our financial and legal advisors, determined it is not in the best interest of time warner or our shareholders to accept the or to pursue any discussions with foxx. The boardly, concluded that continuing to execute our Strategic Land and our Business Plans will create significantly more value for the company and our shareholders, and that is superior to any proposal that foxes in the position to offer. Reading between the lines, cory, what do you think he is saying . Do you think he would accept a better offer . The interesting dilemma that he faces in the Conference Call is, to what degree does he emphasize how the interconnected businesses of time warner such as it exists right now, minus the cable assets, minus the magazine assets, time warner today is the is a different business. He should be on a mission to explain how the business works and how the interconnected pieces help each other. The problem is, Rupert Murdoch wants to break that up and sell off some assets to make this deal affordable to foxx and 21st century foxx. The question is, how much is just pukes is just pukes ewkes communicating that . His leg which could hurt the possibility of a big his language could hurt the possibility of a bid. What could he say that would make time warner broken up less value than it is today . That is a great question. You are more likely to hear some kind of boilerplate response. Smart and is not going to negotiate this in public. I would not be surprised if he kind of tried to play down any questions around that. Ultimately, i think the shareholders need to know why talk why time warner would not entertain a higher offer just because it has laid out a plan of growth and it is trumped up digits. Following the publishing in this division, theres a lot of potential for this entertainment entity, despite some of the ratings on the turner networks. But hbo is on a roll. Warner bros. Studio is posting record profits. It will take a lot of premium multiple to get it done. The deal that foxx put on the times value to ebit da, that is somewhat of a lowball. Warner,ly, i think time we think it is an effective play. I would not be surprised at the potential of a white night did. Bid. Will a white night this will probably play out in the next weeks and months. Think you so much. Thank you so much. Could apple be looking for a presence on social media . We explain after this break. Im emily chang. This is bloomberg west. Uber will have two versions of taxis. Withresident spoke earlier bloomberg television. But if you look at the industry in japan, there is a pretty wide variety of different cars running around, the regular taxi that we are used to, to the very high end cars, which include the that. D cars like we want to create a mechanism where the user can actually request one of those. There is an additional fee that we take as uber, as the handling fee. But sometimes the user wants that choice, want that right. Uber said it may expand its Luxury Taxi Service in other cities if the program goes well in japan. Get a twitteron or Facebook Page . Moussa to wreak announced he started at the company yesterday, moussa tar hetweeted yesterday that started at the company yesterday. What does this mean for apple . On driving digital brands. On first of all, apple is one of the most secretive companies in the world. They do not even maintain a twitter or Facebook Page. What does this mean . It is amazing, isnt it, for a company in to be a leader in social media and be so to be a beater in technology and be so backward in social media. I wonder if he will run into some bureaucracy. A company that is used to being so secret for so long, between facebook tweeting and facebook, it seems so unlike apple. Yes, if you look at some of the work that nike has done, sure, they have 20 million followers on their Facebook Page and plenty on her twitter page, but the real work that may be relevant to apple is the work socially integrating social media into their products. If you look at the smart watch that apple is talking about, or maybe the beats acquisition most recently, you could see how that would fit into those types of plans. What do you know about tariq . We know he worked at nike and a burberry. Do you know anymore about him . He has done good work wherever he has gone. Burberry is a refined, highend brand, and yet quite innovative during the time he was there. He did a thing where they had backstage items before they went live at a London Fashion show. There was a lot of chatter about that. And nike, it is a global powerhouse him and hes had a lot to do with that. It is a significant step, hiring a guy like that. And sure, there may be barriers for him, and sort of the old guard, but i think when someone bring in aides to change agent of this kind, you can look for him to be pretty empowered. If you were him, what would you change . What would be the first inning that you do the first thing you do . I would look behind the scenes at what is going on with the product. In the future where you have products integrated with social media and you have buttons with twitter and facebook to buy things, to me, that is much more important than the customer know, i canu complain now via my twitter account if i have a problem with my iphone. The 4 the latter is just the surface of it and the former is the depth of the possibility, which i think is exciting. Tim cook, apple ceo, recently signed up for a twitter account, which is getting a lot of attention. A lot of other executives have twitter accounts. Do you imagine his job will be maintaining or managing at . Will we see more of that from the people at the top of apple . You know, tweet or posts that illuminate more of who they are, and their personality. Its an interesting question, and my guess is that that is that is something they are trying to figure out right now. You can use that sort of strategy and have other leaders in the Company Speak out, or you could go with a corporate voice. My guess is that a something they will strongly be considering as they formulate a strategy. It is fascinating that they do not have a Strong SocialMedia Presence yet. No matter how they do it, it will get a lot of attention. There is tremendous upside for them. You think there will be challenges, or this will be an easy sell for them . Nothing is as easy as apple makes it look. There are certainly risks to putting yourself out there and have people say things that are maybe not what you would want, and reacting to that at a moments notice. There are downsides for this. Or if they integrate with the product as im suggesting and it does not work 100 , that could be embarrassing. But i think playing it safe is also a risk, and apple does not strike me as the kind of company that likes to do that. They are going to going for they are going for an eventbased, steve jobs kind of culture to something quite different in the coming years. It will be fascinating to see how they do that. Thank you so much for joining us. We will be watching his twitter account. More right after this break. Welcome back to herbert west, bloomberg west, and im emily chang. Tmobile has, turned down a 13 billion deal with iliad. 15 billion deal with iliad. This is not a surprise. It does not appear that softbank had anything official on the table. Lets back up a little bit. Iliad is a decent size French Telecommunications company. But smaller than tmobile. Quick smaller than tmobile, but offered 32 a share. Door to telecom controls tmobile. We understand they want to get out of their deal. They dont have the money to do it. They may or may not have the Borrowing Capacity to do it. It depends on the grace of god and a couple of banks as well. Tmobile is about to announce they are not interested. Door to Telecom Deutsche Telekom has already said they dont want any part of this. That they have some interesting getting money from anyone that has got it, and they knew something was coming from europe, the sort of between the lines in the conversation you had. Optionssaid domestically and internationally. It is clear that they are looking for sources. They could be close to 40 per share, but we dont know exactly. Bankers are presumably working on the structure of an offer as well as the price of an offer. Readingrth noting the between the lines of what he had week, last wake last he called these accelerants. Not an offer to sell, but an accelerant. When hes referring to his Capital Expenditure money coming from the outside, people who will pile money into his business for him to grow it further. What we will what we have seen is that so many people have done a pretty good job running tmobile over the years. Hes done even better. Hes grown users more and grown the value of those users more. Subscribers last quarter than any of the other years. But not just numbers of subscribers, but that subscribers were paying more and using more. Cory johnson, thank you for following the story. We will have more after this break. Past the error, which means bloomberg tv is on the markets. Let show you where stocks are trading. The benchmark indexes are in the red following yesterdays rebound in the market. This comes after a report that shows service industries, such , grew at the fastest pace since 2005, signaling the economy is hitting its stride as we enter the second half of 2014. More bloomberg west after this. You are watching bloomberg west, where we focus on the future of technology and is missed. Im emily chang. Has claimed to be the systemo develop a dimmer. Cory johnson, clear this up for us. What kind of light bulbs can we use for warm light . Compactt to mention the fluorescent not to mention the compact fluorescent bulbs are quite dangerous. They say theyre both can last 20 times longer than regular bulbs they say theyre can last 20 times longer than regular bulbs. This looks like a rubiks cube or something. Talk to me about your design and what makes this special. Because led is not a particularly new thing. Isreally, the innovation around the Energy Efficiency. Leaf ng we do at nana nana leaf is around efficiency. Including the shape. Inape is to admit light in all directions. Mit light in all directions. If you look at it, it is kind of the same shape and every angle is the same. Solvents. Conic what does that mean you are correct every side is the same shape. Why this particular shape . What makes this so Energy Efficient . The problem with led is that it it emits light at 180 degrees. To get it to go the full 360 degrees, we had to fold this in the shape to go in all directions. This is custom by our engineering team. We custom package the led chip to make it the most efficient possible. And the chips themselves, what makes them different . It is new led technology. It is much better than cfl and much better than incandescent. Cfl, as you said, contains mercury and is harmful for the environment. Those are the curly cue lights. They have longer life. I think they have terrible quality of light, because it is dr. Office right. And with the mercury, you could introduce an toxicant a toxic elements into your home. Right. And these are safer and cooler as well. This is a light bulb. This is a light. Sizeular lightbulb, same socket and everything. It dims without a dimmer switch. How do you dim it . Switchswitch the light off and on really quickly. Itll start to ramp down. And if you want to do it, you clicked it on and off again. How do you do it . We have a microprocessor built into the lightbulb that allows the control from a regular on and off switch. You have to turn it on and then it takes three seconds to ramp up. At any point, clicked it off and. N you got to do it really quick. For the Energy Efficiency aspect. What people do not realize when you dinner light, it saves energy. For example, at 50 brightness command uses only one quarter of the energy. Instead of using only 10 watts, it only uses 2. 5 watts. Get stickereople shock when they look at the cost of led light. Right now, on kick starter for 40 dollars. And that includes Free International shipping. And that is cheaper than a lot of the led light out there. The prices for leds are actually dropping. About 20 per year. One of the big things in the industry has been color. This crazy staycation day where i got so frustrated with the light in my house, i actually went on amazon and ordered every single kind of led light and took another day off to try to pick out the colors i like, because they were all over the map. Talk about the evolution of color in your light. So far, we had it around it was a cooler white. We upgraded it to a warmer white. It is perfect for your house. It doesnt have that hospital feel. And there is a color index. Where is this activex this is about 80. Where is this . This is about 80. Really interesting stuff. Finally, talking about kick starter, talk about why kick starter as a way of getting this in going. If it wasnt for kick starter, we would not be a company today. We had a Kick Starter Campaign last year for the worlds most energyefficient lightbulbs and we raised about 200 70,000 in funds. We have a Kick Starter Campaign going on right now and we still have 38 days left and we are at about 120,000 raised. It is amazing to get support from so many people who believe in our cause. It has helped us get on our feet better than nine better than venture funding . We got some venture funding this year, from Kleiner Perkins as well as horizon ventures. For us, we are the little guys. Thank you very much. Cori, ive been looking at your calendar and i notice you do have a few more vacation days. If you want to take another day off, i would gladly have you over to my house to try out the lightbulbs. I do have some several lamps. Ive tried a few different lightbulbs, but certainly not everyone available. I would love to have your opinion. A betterot think of way to spend my day off then be at your house testing lightbulbs. Emily, im here for you. You know that. [laughs] good to know. Welcome back. Im emily chang. We turn now to the u. S. Africa Business Forum happening right now in washington, d. C. President obama is hosting several dozen new several dozen leaders there and Just Announced 14 billion in commitments in u. S. Businesses investing in africa. Hans nichols is there and joins us live. Take it away. Emily, thanks so much for having me. Im joined by jay ireland, the ceo of ge in africa. Thank you for being with us. Great to be here. We just heard 14 billion in new deals. Fromllion will be coming ge walk us through where that will be. Is 2. 4 billion dollars in the next year, actually. It will be across a number of Different Countries and areas. Focus on localization, capacity building, skills building, as well as investment in facilities for us. Commendation of some manufacturing facilities that we will see in night in algeria, nigeria, angola, south africa, our Customer Innovation Center in south africa. There will be some skills building and mobilization work in mozambique. In ethiopia, local assembly. And continued growth in ghana, and in there, region. You have almost hit every region. You have a good sense of africawide growth. To talk aboutrd Subsaharan Africa as one single unit, but are we talking about 4 growth, 5 growth . , if you exclude south africa Subsaharan Africa is probably more toward six percent. It is about 5 to 5. 5 total. The growth is tremendous. It is everywhere. It is a common nation of obviously, everybody talked about resources, but it is a broadening of the economies as well. We are seeing more value added manufacturing being done. What types of products are we talking about . Locomotives right now in south africa. U. S. Ve jobs here in the that make the engines endings. We ship them to south africa them, so itsble about a 5050 split on local content. Africa, we will be doing equipment and power packaging. And the goal will be distributed energy. And in algeria, in northern africa, that will be manufacturing. Any ethiopia, health care and in ethiopia, health care. Again, we will do final assembly in each country. How many products do you have right now . Close to 2000. We have doubled that in the last two years and hopefully we will double that in the next few years. 4000 by 2018 . On electrification story, are these mostly gasfired, coalfired . Are you using some hydro . Without power and electricity, africa will not continue to grow. There needs to be a portfolio of fuels that drive the power, whether hydro, wind, geothermal, as all ofeven as well potentials. From our perspective, we are big in gas and steam. But we need to get the fuels to where the power is needed. We are putting a couple of projects together around gas to power, one in west africa and for a east africa holistic approach to power generation, from fuel to the utility. This is not typical of what we do. Give me a project in west africa. It is called donna ghana. A grand signing today, about 400 million or so. We are putting in capital along with some u. S. Partners and we will continue to grow that and do the holistic view. We have cote divoire, liberia, syria there has been a lot of talk. Advisory toued any your employees . We dont have any employees in those countries right now. The travel advisories have been put out and we put out our own medical advisory about the virus, etc. From that perspective, we are obviously very concerned and would take the health of our employees very seriously. You are in so many countries, and not all of them paragons of civility and good government. What more in africa do you need to do in individual countries to convince investors they can make a longterm investment . You are hitting him one of the existing things, which is the perception of risk versus reality. A lot of it is around political. Having projects continue across multiple administrations is absolutely key. We are seeing that in many countries. The stability of the political system. There are still relatively young democracies. Youngest with independence is ghana, which is about my age. If you think about us in the years our first 60 so theres a lot of growth. Tremendous improvement, governance, transparency, rule of law all of that has been improved. But in kenya, your base, there are challenges. Yes, the security aspect right now with some of the terrorism things. But we understand we are in 160 countries around the world. We know how to do that. Best thing for all of that is to grow the economy and get people employed and to continue to see growth. And people are happy and they want to continue to be part of the solution. Like you are part of that solution and you are certainly part of the growth. Part it sounds like youre of that solution and you are certainly part of the growth. Emily, back to you. Thank you very much. Enough foodthere is in the world for everyone is one of the worlds major challenges. Up next, a startup that found new ways to make exit. Eggs. Make im emily chang and this is bloomberg west. How about eating scrambled exit or an omelette minus one in one ingredient, eggs . A startup is creating plantbased egg alternatives. They have already made mayonnaise and cookie go and there are more products in the works. It is backed by major Silicon Valley investors, and they have also won the support of till gates. Bill gates. Joining me now is the co and founder. Josh, thank you for joining us. I actually just tried the mayonnaise for the first time today in preparation for your arrival, and its really good. Did you try the chipotle or regular . I tried the chipotle mayonnaise. This is the most politically incorrect thing to say, but i love mayonnaise and im all about best foods, regular fat. But this is actually pretty good. You think like most people, and that is part of the reason we started off with mayo. Our idea is that food just needs to get better. Cookies,be mayo, or but food needs to be healthier and more affordable. We are starting out by saying there are 400,000 lannett species around the world and we can use them to make everyday food a little bit better, and we dont have to 400,000 land species aroundt the world and we can use them to make everyday food a little bit better, and we dont have to worry about animal products. Eggs dont always come from the best places. We identified one piece of this food system, the egg, to make better with plants. Egg giving you that nice texture and now feel mouth feel, we used a cultivar. We have scientists around the world identifying these plants in aning bioscience unconventional way. It looks like it has as much fat as regular mayonnaise. Is it healthier yet to fix it has no cholesterol. So lets say, you are having a hamburger, it suddenly has 18 less cholesterol because you are using this instead of the regular one. 31 million americans have egg allergies. Antibiotics associated with it whatsoever, and a little bit less saturated fat. And you also may cookie dough. This is a favorite of mine. This has no egg in it. Stuff. Are selling this you have some stuff to announce today. You have a new retailer. We have combined the sauce of the with making food better for everyone with a technology that makes awesome products. We are proud to announce that we will be beginning this move with target on august 24, one of the best retailers in the world that are really aligned with why we are doing this in the first place. And youve got other were street chains already on board grocery chains already on board. The top two in america, and we arekroger in whole foods, and launching with walmart. Be eating fake chicken . What else . This is the idea that we have all of these issues in our food system. We have rising rates of diabetes. Maybe sugar is not the best thing to have. We have foods that could be more sustainable across the board and uses use less water. We are identifying plants that are better than sugar. We are identifying plants that could be a hyper source of protein for people in the developing world. And the more we dig and look and find things the more we find things that just makes it better. I think im going to have to throw out the best foods that i have at home. We will keep an eye on you guys. The bwest now for byte, one number that tells a whole lot. Jon with us as well. Benevolently allowed me to provide the byte today and i chose 400 million, the 100 million, the amount that beyonce and jayzs to bring in. For those of us going to the concert, there is a lot of speculation about whether they will remain married. I dont care. I just want to see them perform. Im excited. What is going on with the marriage . Aside, and, marriage following on your mayonnaise segment, they are still the real deal. You will still see them regardless. I think they put on a big show here. But i have no scoop for you today. But im not sure cory understands our love for b and j. I know you have this whole Conspiracy Theory that they Stay Together until the last of the two are. Is this the last day of the tour, or second to last . This is the last day of the tour in the u. S. And then they go to paris in september. Theyve got a few shows there. Theyve got to keep up the facade for a few more weeks. Will go to paris and you can change all the lightbulbs bulbs in my house. How about that . That is really [indiscernible] [laughter] you all for watching this edition of the show. We will see you later. From bloomberg World Headquarters in new york, im mark crumpton. This is bottom line, the intersection of business and economics with a mean streak perspective. Today, the u. S. Africa forum lead to billions of dollars with a main street perspective. Today, the u. S. Africa forum leads to beings of dollars of investment. And will disneys greatest latest earnings be magical for investors . To our viewers here in the United States and those of you joining us from around the world, welcome. We have full coverage