Detail form proposal form proposals for creditors. The greek government has not wasted time in getting this deal done. Earlier proposals were inadequate. Greece could run out of funds in three weeks. President obama pushing for training for hightech jobs. If provides job placement for fields Like Software development and cyber security. We still have to produce more engineers in advanced degrees like Computer Science at the upper tier. There is all kinds of stuff being done within companies that can create great careers for a lot of people. What they are going to do is to help local leaders connect the job openings to the training programs, to the jobs. Qualcomm is planning to return more money to shareholders in the form of dividends and buybacks. The news comes as qualcomms Revenue Growth decelerates. The result of increased competition and trouble collecting from chinese customers. Once again urging mired to spinoff yahoos stake in yahoo japan. The Hedge Fund Says yahoo could collect 11 billion in value for shareholders. The shareholder still have substantial skepticism about yahoo management. That was the day when the apple starts shipping. It is the first of entirely new product line since the ipad in 2010. Here is tim cook. The apple watch is the most personal device we have ever created. Its not just with you, its on you. Since what you wear is an expression of who you are we designed apple watch to appeal to a whole variety of people with different preferences. For those metalheads out there stainless steel, gold, prices from three 49 from 349 to 17,000. A new back book is thinner and lighter. An open source developer kit. A partnership with new hbo. We are going to get all that get to all that a little bit. We have a handson look at how it works. The apple launches finally here again. This time it actually works. Unlike the models we saw six months ago, the watch is fully functioning with the software it will be carrying when it shifts when it ships. You do give up a lot of Screen Real Estate for extra comfort. The apple watch doesnt use multitouch gestures, but it can differentiate between a quick top desk with between a quick touch and tap it is also tracks your health and fitness, a lot like most of the fitness trackers these days. Relying on your iphone for that sort of functionality. There is no word yet for onboard storage. Battery life will be approximately 18 hours. This should match really well with other much other devices on the market. Prices are going to be 549 to 1049 for the steel apple wash apple watch. He says will begin on april 10, when they will be available for preview. A handson look at that watch. Lets go on for one of the biggest takeaways of the event, there were certainly a lot. What is it mean for apple in terms of revenues and profits . Bloomberg businessweek has been there all day. As we sit here with some of time to ponder the importance of todays happenings, what is your big takeaway . I had some time with the watch after the keynote. It is a marvel of engineering. They pack so much in there, a bluetooth radio, wifi radio. It is a marvelous piece of engineering. I wouldnt say difficult to use but it requires a lot of behaviors. Im not sure they completed the sale as we have been talking about it today. It does look great. There are some enormous ranges of price within the device. The 349 is a placeholder back in september 8. The 10 the 10,000 to 17,000 a 17,000 watch, a controller for your phone. A gold buckle. Very interesting the price in the middle. It is somewhere between 550 and 1050. Not nearly as much as the macbook. Nearly as much as the macbook. It is an expensive piece of equipment. This watch, which is a companion for the phone, is really more expensive than most smartphones. It is extraordinary. There really is no killer app. Really what you are buying is a luxury item. This is something you want to wear because it looks beautiful. You want to be seen wearing it. Maybe you can put it aside and citizen conspicuous consumption. People want to be seen wearing the apple watch. Certainly there are many handbags out there. Mens suits and different kinds of watches. I think that is what apple is selling here. I think you just took a shot at my suit. Its fancy. We walked in thinking that opsware an important thing. What did you see cap will give me a sense of some of the variety you witnessed. I have the question. He showed uber. You can summon a car and see a car move towards you on a watch. You have the ticketing app. You can identify a song using shazam without pulling up your phone. The idea is giving you curated glimpses of the phone experience on your watch. Is that liberating . I would argue it tethers you more than less. It is early. App developers have only a few months to work on this. Given time because i dont think the iphone was all that evident right off the base. We may hear from a thirdparty developer. Would that be a failure . I dont think so. Stay with us all show. Stay tuned for all the other announcements from apple. Then i top deadline top headlines. The device used to slow down the plane did not automatically deploy. Investigators are talking with ground crew. It appeared all white with snow just before the landing. An amtrak train collides with a tractortrailer in eastern north carolina. None of the injuries are considered lifethreatening. The train got struck time to make it turn. A state Senate Committee has allowed a rule has committed a rule allowing direct rec purchases. The company is cutting jobs in china. 180 sales in china at this point. A tim cook pushes the world most valuable company into a new product category, wearables. Along with the apple watch, it increases focus on health and fitness. He asks what apple did to make the great today. I think they made the longterm sale for it. It will take a similar trajectory like apple products. They lay the groundwork, but as far as the real consumer running out and buying it, we are a year and a half away from that. They have definitely laid the foundation for that. Apples products have had a real use case. Do you think consumers paying attention to the news today understand what the apple watches for . I think that is still going to be a debate. That comes down to a lot of develop meant for apps over the next year. It will spark some of that understanding about why people are going to want to go out and buy the watch. Most examples might be a small case. The traveler goes checks into your room. All extremely valuable for those types of people. That is still something that is going to take a bit of time. They should a fandango app. Identifying songs on your watch. All of these things are apps that work on the phone. What does tethering a watch to your iphone, what does it bring you that the iphone doesnt . It takes friction out of how you use your phone. A typical teenager gets about 6000 Text Messages per month, checking those Text Messages or receiving a phone call or using your phone for payments, it is the same reason why the pocket watch is displaced by the wristwatch peter just the simplicity and friction of it. I think that is one of the parts that is underappreciated. Even though it doesnt seem like a big deal we are going to enjoy not having to pull that phone out. What type of social behavior will be start to see . People glancing at their watches all the time. It is not necessarily a less obvious behavior. It is disappointing how we ve the last decade. We broke through some unacceptable behavior. Lets talk about the pricing of the apple watch. For 10,000 dollars, starting price for the gold edition. The watch starts at 349. 549 for the stainless steel apple watch. Is that in the sweet spot for most customers . I think that is the sweet spot. We are thinking around 550 for the average selling price. Of two years is the right price. It was the same price as when it was launched in 2007. The reason why the iphone has had such success is because it has great values. The price is just fine if consumers feel like they are getting a lot of value. Does the apple watch move the needle . Doesnt have a big impact. It has to 4 for the numbers this year and next year. There should be a small uptick which investors closely watch. Where it gets more exciting is beyond the first year and a half. This could be a much bigger category for apple. Did you learn anything about tim cook and his Management Team and their performance . The same big deal for him. He has already done the hard work of getting up to this point. They keep throwing out this idea of apple tv. I think he is lain the groundwork of doing another product category in the future. Bloomberg west will be right back. Welcome back, this is bloomberg west and apple demonstrated how to use the new watch. Is ios 8. 2, available for six plus users. Redstone from Bloomberg Businessweek joins us now. Fixing some problems but also to people connect with a watch for the first time. That is right. Apple had to design new software for this device. You really cant port Something Like ios to this new form factor. It is a completely new interface. A touchscreen. It is a beautiful mechanical device. Not be a naysayer, because they are known for starting and Getting Better over time. The software is confusing. It is based on this grid of view. The grid representing you can do with the watch. Message your friends. There is a social networking component. Actually speak through the watch. Access apps like uber and fandango. The gold edition is it is not necessarily intuitive. They may improve it over time. It is interesting stuff. Maybe it should be used very differently. I want to bring allison in. Talking about the ios and the new use of the phone. A kenexa phone with a new ios. What difficulty might this device half because it is so new . What i saw today is that people did know how to use this watch. It was more intuitive than what has come before it. What we can tell at this early juncture is that apple seems to be on to something in terms of the better utility. Did you see a compelling use case . The compelling use cases they have opened this up for Apple Developers to start dreaming. That is a no. There are some nice to haves at this juncture. Some of the apple pay you that will weave into this. These are nice to have. At some point they may be essential for certain people. Yesterday my daughter said what is a geezer . I think your inability to operate the watch may give a new answer to that. Do we think this is a generational thing . Do you think another generation they are going to start wearing watches again . It is possible. They are targeting a younger audience, a millenial audience. Going way up from there. It probably is the pricing strategy. I agree with our other guest. We dont yet know what this watch can do. They are going to surprises as they have with so many other apple products. What do you expect in terms of annual sales this year . And i think the averages 14 million. We started out at jmp security. Assuming very modest penetration rates for the current install base of iphone users and he expected iphone sales we see this year. At least in the near term for our view and for apple, it is the iphone. It looks on pace to do more than 50 million. 50 million for the calendar year . For this current quarter. Back to the phone itself, the average selling price, what do you see in terms of pricing . We were assuming 349 pricing. It will be interesting to see if they can get that proverbial 1 of apple buyers to opt up in the north of 500 free five dollar price point. There is a bias to our model. Brad stone, we are making him stand in the street. Careful, p roll up parking is a great risk. We are going to have more with Everything Else apple when bloomberg west continues. We are watching you are watching bloomberg west. European leaders to follow through on pledges made to receive a bailout. The proposal had been an adequate and the country had been wasting time. Here is greeces finance minister. We are able to announce collectively that indeed as of wednesday morning the day after tomorrow, our team will commence technical discussions with institutions here in brussels. Let the work begin. Without aid, greece could run out of cash in three weeks. The clash between the white house and republicans over Iranian Nuclear negotiation. Any agreement reached could be confirmed by the next president with the stroke of a pen since it will not get congressional approval. General motors will buy back 5 billion in stocks by the end of next year, part of a deal with activist harry wilson. He has been pushing for buyback. Wilson gave up his request to be on the board. He is also receiving a target to return 20 invested capital. Investors pulled 80. 5 million from Janus Global Unconstrained Bond Fund in february. Is the first month of net redemptions. The fund declined a 10th of a percent this year. Some sad news from hollywood, sam simon, the cocreator and producer of the simpsons died of cancer. He left the simpsons after just four years to focus on his foundation to train animals to help the disabled. Turning back to apple, it was not all about the watch. The company also revealed a revamped macbook. Here is Stephen Colbert and stephen paul berendt. The new all metal macbook is 12. 1 inches and comes in at only 13. 1 millimeters thick. Its really incredible on the hand. Its only two pounds. It has its retina display. It is more Energy Efficient than previous models. The logic board is much smaller to a comedy for smaller case. All around it are these batteries. This allows them to cram a lot more in every crevice of the case, giving you a full 10 hours of battery life. 35 more than youd get with flat rectangular batteries. There is this new connector that act as the power connector and youre only access to other devices. The only other port on the computer is a headphone jack on the other side. The new keyboard uses butterfly mechanisms under the keys, which give you a much more even push. The trackpad is entirely solidstate. When you push it you feel like you are getting a depression. This macbook wont replace the macbook pro. It will add to the lineup. It will have a dual core processor. It will start at 1299 and ship april 10. Interesting stuff with this new device. I want to talk with brad stone still with us. Alex, brad earlier said this would steal the show. I would agree. Engineering is another marble out of apple real the way they have packed the batteries in this case, the new keyboard as well. I dont know of that stole the show. I think hbo now, exclusively available on apple tv out of the gate, very interesting. I think it speaks to the brand strength and the sterling reputation apple has achieved. I want to stay with macbook. Your take on the macbook . It is a beautiful computer. It is less than two pounds. It is really like. I felt terrible about this macbook air. You already have a little rats nest, current and retired apple cables already. Here they have introduced something else. It does streamline the device. You have to side, apple has gone and done it again, requiring us to buy a whole new set of cords and adapters. I do think it supplants the macbook air and it is a beautiful piece of engineering. The success of the macintosh used to be the whole company. Steve jobs came back because macintosh was flailing. It is all about adding market share. This business is having tremendous success. It has been taking share in recent years. What is important about it is the whole continuum. You saw that again in the apple springboard, where it started with the watch. And this new macbook does fill another gap in. That is something we expect to see. Another very attractive edition. Data brad is already having more. Down to the 11 inch hair and the 15 inch. We could see some acceleration be on that absolutely. It rounds out a strong product portfolio. Wonderful steve jobs. It out four years ago. I was seeing apple tv . And then the chrome cast or the fire tv. Hbo now has a cute competitive advantage. I suspect we will see hbo now on the chrome cast, on the higher tv. The price drop, that you with hbo it does show apples ambitions on tv despite the fact we dont have that glistening new flatscreen yet, that the ambitions are very much alive to innovate in this space. We will be right back. Them of the most anticipated of all announcements today, the gold watch. Why go gold . Bob odonnell founder of tech analysis research. Part of what apple is trying to do is make a statement. What they are doing with the watch is answer the luxury goods market. There was a lot of emphasis on the design of the watch. It is interesting to see what becomes more important. It is about functionality. It is all about fashion. If i buy a 10,000 watch, what am i going to do when they upgraded to version two next year . If you buy the watch addition, you will get free upgrades of the electronics, because that is a tiny part of the cost for the next five years. I am surprised they didnt do that. What about the apps . Did they show off and uber app . You can send your heart beat to friends. Not a lot of surprising use cases. Why should people own apple watch . It is all about reaction time. Everything we saw today we pretty much saw before. The real difference is the immediacy of the reaction. The question is how immediately do you want to be able to react to information . Is pulling out your phone that cumbersome of a process . As we get bigger and bigger phones, it becomes more cumbersome. A little bit harder to pull out. That is the big question. Was there anything that surprised you the presentation of the apple watch . Other than the gold price it would be higher. I think the whole room let out a collective gasp appeared it was a huge a huge sigh of relief. It will be interesting to watch. The star of the show was a new macbook. Talk about it. I actually thought that was some of the most interesting news of the day. It shows you there is still innovation in the pc world. Everybody wants gold. Not real gold, obviously. It is a beautifully designed notebook. People have not given out notebooks the best notebooks. Apple is showing where pcs need to go. I was surprised they started the show with the apple tv. It will support hbo now. What does this tell us about apples continuing ambitions . They do want to try to build up a bigger presence. It is not the cost of the hardware. There is no apple tv as in an actual tv. The ipad sized screen and finally the watch. How did tim cook do today . He has become more comfortable with the process. Steve jobs is always going to be steve jobs. He is going to get some comparison there. A very solid presentation. I think he did a really good job. Dallas brad stone and bob odonnell of tech analysis. Now time for a check of Bloomberg Top headlines. Brady dougan is reportedly settling down. He led credit suites through the financial crisis, which will reportedly be replaced. This is the first large bank in dead in decades to plead guilty to a criminal charge. An investor engaging in an insider trading. 17 million of stock. The company could face criminal charges. It came from the illegal harvesting of trees. Share prices falling more than 57 over the last 12 months. Dont say Global Warming if you work in florida. They ordered not to use those terms. According to the Florida Center for investigative reporting he is a skeptic of Global Warming. We will be right back. Apple share its highly anticipated apple watch with us. Apple gave us what the people wanted. Brad stone joins us from the event. Was this enough today . It was enough for me. Here is the thing that puzzles me about it. What was the delta between the mast announcement and the reannouncement today. It wasnt like the old iphone. They we announced in the sense of launching. Very little change between the initial announcement of the watch and today, which begs the question of why so long other than manufacturing to scale up. My theory is they wanted to see the market full of competitors. What do you think . They did a pretty good job. They really havent done well and have improved themselves to customers. The fact they have the exclusivity on hbo now. Big out a big mountain the apple is going to decline. This is version one. I think we are going to see future versions that are packed. They can be more supportive than a battery that lasts a couple of days. It is probably best to follow that conventional wisdom. I think that applies to the apple watch today. Do you think businesses will be built on this new device . Im sure they will. Whether they are successful or not, i have no idea. There are a host of companies on the watch and related smartphone platforms. Ive seen nothing that couldnt have been done somewhere else. I want you to both stay with us. Time for one number that tells a whole lot. What have you got . I think we will end the show where tim cook began today. The number of apple stores in china they are going to have 40 stores in china but when he 16. So much of the Success Story for apple in the recent years has been due to amazing growth in china. 20 of the smart phone market in china. Clearly when we look and chuckle thing chocolate of things like the 17,000 apple watch. That exists because there is going to be a market for it in china. I dont think it is any excuse they started with that number. Wait a minute. I want a different fight. How about the number of chumps i stumped today when weve been about what the price of the gold edition would be . Brad i think you are at 5000, paul you try to be clever with 5001. 7500, i was closest. Price is right rules. I finally won something in my life. Very nicely done. Very quickly on brass point. The thing i worry about is there is this tendency and consumer electronics. You know that old joke about fortune cookies where you add the word in bed. It will be a huge market for apple marches in for apple watch is in china. I dont think that absolve zoo of responsibility for what you are really doing. It is a get out of jail card. And i am not absolving you from the fact that you only drink speed both do. You only drinks. Both you do. You ohwe me drinks. Who is going to buy this thing . The chinese. Was that the focus of this device . I didnt quite catch that. I think it is interesting we are talking about this on a day when tesla announced big layoffs in china. It is a market that has the deviled america companies. You have to tip your hat to apple in being tenacious. The latest smart phone numbers that have found some success. As to whether it is too easy to say this is a market that will embrace the highend apple watch, paul may have a point. You have to acknowledge they have done pretty well in a country where other Tech Companies have stubbed their toes. The suggestion was it will be sold in paris and london, not beijing. Aspen is next. There is your luxury market for apple stores. I think we know some people in aspen who may buy it. Great work out there all day today. Thank you very much, we appreciate you helping. The latest headlines all the time at the top of the hour. Bloomberg. Com technology. More bloomberg west tomorrow