And Kates a search and rescue mission continues for 10 u.s. Navy sailors missing after the u.s.s. John McCain collided with a tanker off Singapore correspondent Alex sentence initial reports indicate the u.s. Ship sustained damage to his rear left side the Navy said that the u.s.s. McCain was steaming under its own power to port it did not however give information on the status of the merchant vessel President Trump gives a nationwide address tomorrow night to outline the next phase for Afghanistan correspondent Bora Sanchez reports the president has not revealed any details we did about a final decision on the strategy in Afghanistan saying that after important meetings with top military brass they had finally come to a decision North Korea has warned it will launch a merciless strike on the u.s. As joint military exercises get underway between Washington and South Korea defense secretary Jim madness has Pyongyang understands the real nature of the drills North Korea knows that will lead them to whatever they may face publicly so they know this but you have to. Try to go and I know decades maybe over the years the famous. Comedy legend Jerry Lewis has died at the age of 91 correspondent Jim Roope reports on his long career for more than 70 years Lewis entertained a stand up with crooner Dean Martin as a director actor longtime host of the Muscular Dystrophy Labor Day telethon where he raised more than a $1000000000.00 for research and Family Services Hollywood is mourning the loss Jim Carrey saying he wouldn't be him without Jerry Lewis Jimmy Kimmel calling Louis a genius in spite of his declining health Lewis did work in 2013 the film x. Rose and just last year the film the trust died in Las Vegas today surrounded by his family s. And p. Futures headed lower down by 2 points the Nasdaq futures off 8 the Dow futures down 6 I-Man Kates. Or your data limits limiting your human potential. Do slow dead works make your soul feel sluggish make up. The simple mobile you get truly a limited high speed data for just $50.00 a month meaning dollars not. If you want better wireless The answer is simply. Available at Best Buy Dollar General waterings and other national retailers video typically streams a d.v.d. Quality 30 days pleasure for always the latest terms and conditions of service that simple you check things all the time like your email every 10 seconds or your ex's Instagram but what about checking something as important as your credit well discover makes it quick easy and best of all free discover is now offering Feigele credit scores to everyone for free even if you're not a customer and checking your score won't hurt your credit we call it the Discover credit score card and once you know your score you should check to see if your current credit card is the best fit for you check your credit compare your card go to discover dot com slash credit score card limitations apply. More than $110.00 u.s. Postal Service offices will provide special postmarks for tomorrow's solar eclipse the post offices are in or near the path of the full eclipse which cuts across the United States from Oregon to South Carolina u.s. Postal Service spokesman Mike Saunders says the postmarks will be unique in some locations while most will use one designed by the national office he says some post offices are using the special postmark only on Monday but others are also using it before and after the eclipse the post office earlier issued a heat sensitive eclipse stamp a touch of the finger transforms the image of a solar eclipse into the moon I'm John Stoll this there's still no big winner for the Powerball jackpot it's now at $650000000.00 and growing after knowing Drew the grand prize numbers last night there hasn't been a winner in more than 2 months making the jackpot one of the largest in Powerball history the odds of winning are one in 292000000 I'm and Kate's. New and I'm Brian Curtis in Hong Kong Let's get you caught up on this hour's top business stories and the markets Asian stocks are mixed as investors monitor wargames scheduled for the Korean Peninsula this week markets are also weighing up the Jackson Hole meetings and the pros and cons of drama at the White House Richard Harris his chief executive officer of Port shelter Asset Management Well we think it's wonderful entertainment is like watching a papal Colt's you know with people coming and going but you know it's quite in sync seeing bands come in Toma saying well it's the end of the Trump presidency now in moving on it's a bit like Marc Anthony off to seize a dozen of them in Malta praising and I think that that's probably going to be reflected in the fact that the monk is a poet may well say well look the grown ups are now in charge we update markets every 15 minutes the Nikkei is down about 4 tenths of one percent the a.s.x. 200 in Australia also down about 4 tenths of one percent but I'm saying index is up 135 points a jump of about a half of one percent China United network communications. Rose 10 percent in Shanghai China Unicom rising 3 and a half percent here in Hong Kong the unit com group was among 6 a state owned enterprises picked by policymakers for a pilot program in mixed ownership telecoms firm focus group has ended talks with k k r n definity Equity Partners they had made separate $1700000000.00 bids for the company focus said that it could not support the terms as offered the stock down about 16 percent for disk you will raise its payout ratio that stock is up about 6 percent Blue Scope Steel down 20 percent after its full year results. Crude oil prices up $0.04 it $4855.00 the yield on the 10 year treasury 2.19 percent meantime the Chinese currency is a little firmer today the off shore at 6.678 to the u.s. Dollar bubble News 24 hours a day powered by our $2700.00 journalists and analysts in $120.00 countries from Hong Kong I'm Brian Curtis this is Bloomberg is Bloomberg Bloomberg best of the a problem but that he was still eager to shrink the Fed's $4500000000.00 balance sheet he discusses his comments further with Bloomberg Kathleen Hays I want to get right to this because you have been as usual saying was of interesting things about the economy and luxury policy and. Just recently you said you think it's best now to leave rates where there are where they are earlier you were a little more willing to say maybe another rate hike but now you say no low unemployment is not going lead to higher inflation it's surprising the downside we're stuck in the St Louis Fed slow growth regime but Jim jobs keep growing you know unemployment to g.d.p. Has rebounded it's above trend again as some people think it's going to stay there maybe not it is one more rate hike this year a problem. I think she's been surprised by inflation coming into the down during the spring here and not by just a tiny amount. Really kind of by a large amount compared to the progress that we've made through 20152016 so if you look at the charts we were creeping toward 2 1st and all during 201-520-1620 extension 17 most of that progresses. And I think that's at least in my mind leading to revaluate of our story about whether. You know our policy is leading inflation back toward target or not and so we'll have to see how the data comes in the 2nd half of the year so are you just saying let's just wait for the data and then it's stronger by the end. There are beyond paper for a hike. Course we're always data dependent. I'm not too optimistic that we're going to have. Measured as the year over year basis by the end of the year I think if you look at the s.e.p. I think we're still predicting what 1.6 per cent for core inflation by the end of the year and so we'd still be well below target and not too far from where we've been in the last couple of years so I think we've got a ways to go here on inflation but what if if your place is not responding much at this point and it is a good idea to normalize to move the funds rate up what's the harm is going to tell the economy into recession what you'd be doing is you'd be moving preemptively against future inflation. By moving the policy right now we've already moved the polls here 3 times. Why do you need to do that in this environment you low inflation in the us you've got a place in expectations measured by markets below where you'd like them to be you've got other countries with low inflation rates in the in the developed world it just doesn't seem like an inflationary environment where this is going to get away from us I think you don't need to be preemptive in this situation if the Fed does move preemptively as you would call it and goes ahead and says well we want to get that one more read hike in this year and maybe even next year does some more you don't really see need for rate hikes to 2019 what's the risk of that does it hurt the economy does it maybe cause a recession I think there's a risk that the committee could be too aggressive in this situation and damage growth a little bit. I once had a huge risk at this point but it's something to consider why is the Fed brawl they still on a rate hiking path is the right thing monetary path for now or should the Fed be looking at this and say maybe it's time to get out of it well they should be listening to me. Growth regime with low interest rates and low inflation and it's not just the u.s. Really. And I just don't think in this environment you know you have to. Really push hard to get back to some level of interest rates that would have been appropriate in an earlier era but that's not the error that we're in right now so I think we're actually in pretty good shape for rates right now we can. You know leave them where they are and then see how the data develops and he says look your colleagues on the total market maybe that you're starting to make headway in that people are seriously looking at this way you are starting to reevaluate whether they really should even be talking about doing more rate hikes. Well I hope so I mean you can ask oh there's a committee but I think the idea that there's a lot of growth just around the corner in the us is probably not the right model to have in mind I know there are times you know in Washington to push out the growth rate up Claude I think that's a good agenda to have but so far you know not too much has been implemented and even if it was it would take a while to have an effect probably at the earliest now 2nd half of 2018 even though it's a 2019 so from a monetary policy perspective where we're thinking in terms of 18 months or 2 years we're probably not going to move too far off to 2 percent growth during that timeframe and so for that reason I think it's wise just to stand pat on rates for now that was St Louis bad president James Bullard speaking with Bloomberg Kathleen Hays and coming up a change in strategy for Disney we'll hear from Disney c.e.o. Bob Iger next you can see all the Bloomberg best stories at best this is Bloomberg . Good to know that lots of people follow the markets so he's managed to make money then isn't it just a natural selection to be inattentive millions of dollars but here the markets told you there are personal guarantees tied to these loans Bloomberg Markets with him to Lisa Abramowitz what kinds of hedge funds will be left with 2 mornings it's a bird $960.00 m. One o $3.00 of image to do the Bloomberg Radio plus Bloomberg Radio dot com Reggie Cadell is dean of the Martin Tuchman School of Management at n.j. I t. New Jersey Institute of Technology he calls n j I T's Management Program business with the power of stem design to train leaders who can put technology and hard data at the core of a business enterprise if you look at what's going on in the business world whether it's health care or is retail marketing the idea of information and data decision making and being able to trap the real essence of what that data is trying to tell you that drives the area of business towards technology and that connection is best created when you blend the engineering and the mathematics in the stem side of universities that technology side in with the business and management side it's that type connection that really differentiates in j i t n r businessman for programs here from any other universe to. New Jersey Institute of Technology learn more at stories of innovation n.j. I.t. Dot edu. Or the feel quite close to 2070 Mercedes-Benz eclipse to be compared to. a test drive today or visit us on the web at bay area Mercedes dot com. Fifi area traffic and weather every 15 minutes on Bloomberg 960 Let's take a look at the Santa Cruz Mountains right now Highway 17 northbound between Glenwood drive and at last goes road basically stop and go traffic for end of the lane ho Highway 37 westbound between Mare Island way and Skaggs Island stop and go traffic 2. This is Bloomberg. I'm June Grasso. Walt Disney is changing strategy the world's largest entertainment company plans to sell some of its premier content directly to consumers online starting next year it will offer live sports an animated films sidestepping partners from Netflix to pay t.v. Providers like Comcast Corp and direct t.v. C.e.o. Bob Iger talked about it with Bloomberg David Westin is a major strategic move as you have said for the Walt Disney Company going over the top if I can put it that way not only with e.s.p.n. People were asking about that but also with Disney and Pixar My question is why now why not a year ago or year from now well we've seen of pretty dramatic shift in the way media is consume as I see it certainly with my kids and my grandkids and a lot of the base consumption is dolled out over the top director consumer services we've obviously got the great brands to be able to reach consumers directly because the brands are in demand there's great passion for them you need the technology to do that as well and that's no easy task it's not simple particularly when it comes to streaming live sports where you have consumption at a very very high level and it's all at once so we bought a 3rd of them techie year ago we had an option to buy control 4 years hence we've accelerated our purchase of control so that we could move into the space at a faster pace of faster rate than we had initially anticipated because of the opportunity that we see in the marketplace it's that simple it's a combination of brands technology and consumer trends so talk talk about the consumer following because I know the Walt Disney Company you personally really focus on the consumer the consumer experience at least initially who is the target audience who do you think will use most often either this e.s.p.n. Over the top or the Disney slash Pixar Well you're looking obviously on the sports side of the sports fandom as the s.p.n. Fan as well sports is still among the most popular programming with. Out there in fact if you look at 100 top rated t.v. Shows in the United States last year 94 were live sports e.s.p.n. Obviously provides a lot of lives sports on its linear channels this service will provide an additional $10000.00 additional live sporting events in its 1st year of operation so we're looking to reach the passionate sports heroes passionate passionate sports fan that wants to be able to watch sports on mobile devices on you described as over the top director consumer services with really high quality user interface and essentially that's what we're providing on the Disney side we've got a global fan base they're passionate there's a great affinity to the Disney and Pixar products families it's parents it's kids it's even teenagers and certainly grandparents so we reach basically everyone in this world wide it's not just in the United States as you say particular has really been a mainstay of television for some time going back to broadcast television and certainly knows it was certainly one knows was back to cable because of that the cable distributors have been really reliable on e.s.p.n. 1st and foremost what do you expect the reaction to be from the cable distributors Well we're going to continue to distribute the linear channels through the cable distributors they've been good partners of ours over the years and together we've managed to create a highly profitable business the distributors and the programmers are like have been experiencing the disruption that the whole market really is seeing in multiple businesses are seeing from advances in technology and changes the consumer behavior because of that and we feel we have to react accordingly My guess is that this should be does we'll look at this probably. More as a threat than anything else it's not intended to be that what we're doing is we're reacting to Marketplace conditions and we're taking advantage of the quality of our brand the passion in the product that we create and the technology that enables us to reach consumers to. If you look at Disney's businesses by the way for the theme park business virtually all of our business is touch the consumer through 3rd party distributors it's everything from big box retailers to the owners of Motion Picture how to the motion picture theaters and I could go on and on this is an opportunity for us to reach the consumer directly and that's a important step for the company in terms of growth is this the beginning of the end for the bundle do you think I think that's a little bit. Maybe a little bit too strong I don't think it's the beginning of the end at all we've seen a Rosen of the bundle as new entrants in the marketplace offer consumers options but no I think it's still 1st of all it's still highly profitable Secondly I think it's still a very good consumer proposition they have been incursions on the bundle whether it's from new over the top providers You Tube who being you know a couple of them 5 words we're an owner of Hulu So we know about that there's more competition to reach consumers with multi-channel services I don't think this is necessarily the beginning of the end but I think it represents a continued shift in consumer behavior and and the opportunity that technology provides So as you look at this landscape which you know so well what is this most like is this most like Netflix you just mentioned Hulu What is it most similar to well I think you have to look at Disney and e.s.p.n. Differently the goal on the s.p.n. Front is to create the ultimate goal digital marketplace for live sports a destination that sports fans can go to to access larger a probably dollar largest to read a of live sports of vailable whether you call it a bizarre or you want to call it a a marketplace that's what that is if Netflix is that too scripted programming into documentaries and the like I guess you could compare e.s.p.n. To that and if this is maybe the Netflix of sports. Would be one way to look at it business is very very different this is a pure blooded brand play this is taking a product out that has an incredibly robust fan base that has not only a great history but it's got a great present and a very very bright future when you look at the intellectual property universal appeal relevant as can be even though it's almost a 100 year old brand and very much. Welcomed into the home and on mobile devices for kids and families around the world so it's a very very specific very very specific brand play and I think a great way for Disney to reach consumers directly which we haven't been able to do in the past because the technology didn't exist to allow that to happen I want to see you know like you makes a major strategic decision like this and evitable they have to ask themselves do I build it or do I buy it did you go through the process did you consider buying something for example like a Netflix why did you decide to build it rather than buy it well in a way this is a buy as well we're buying a technology platform that's enabling us to create these businesses and go into the space much faster than we would have had we built it I'm not going to comment on whether we looked at Netflix or what other acquisition opportunities that we've looked at or of had we obviously have the financial wherewithal wherewithal to do a number of things but this seems to be the best app for not only the Walt Disney Company but for our shareholders in terms of creating a growth strategy really growing the company long term taking a long term view which is really important but also addressing some of the near term issues that we're seeing which is all about the disruption created by digital technology that was Disney c.e.o. Bob Iger talking with Bloomberg David Westin coming up a conversation with Omega Advisors founder Leon Cooper You can see all the Bloomberg best stories at best this is Bloomberg. Anyone who lives in earthquake country can tell you. What's happening. It's the same with news you want anchors and reporters who dig through the real story. Shut down service under the Bayview the power lines on the tracks at Baxter the group committed a pledge to resist all forms of protectionism attack and business news with its roots right here I'm looking at Tesla right now Bloomberg 963.7 f.m. H.d. To the Bloomberg Radio and Bloomberg Radio dot com. 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Bank the feeling is mutual feel Bay Area traffic and weather every 15 minutes on Bloomberg 960 this traffic report brought to you by Mothers Against Drunk Driving right now the Santa Cruz Mountains Highway 17 northbound between Glenwood drive and Los Gatos road stop and go traffic in the opposite direction southbound at Redwood estates on Highway 17 a stalled vehicle telling a boat is blocking the right lane in Concord right now 242 north just before Congress Ave We have an object blocking the right lane and on the Bay Bridge metering lights are off at this point Mothers Against Drunk Driving supports victims of drunk driving drunk driving and under-age drinking at no charge called their 24 hour victim helpline at 877 am a.d.d. Help or visit m a d d daughter or vets m a d v d. Daughter Bloomberg 3 day weather forecast for Meteorologist Rob St Pierre tonight clear skies this evening then partly cloudy overnight 55 to 60 degrees tomorrow scattered clouds in the morning and then more and more sunshine highs 70 to 75 near the bay but 80 to 85 well inland remember the partial solar eclipse in our area peaks of about 10 15 in the morning tomorrow night partly cloudy skies lows 55 to 60 then on Tuesday little patchy fog in the morning but plenty of sunshine Isel than 70 to 75 in the big faded 85 in length with the areas best traffic on Millbank or Bloomberg 960 I'm one of 3.7 f.m. H.d. To. Connecting decision makers to our network of news and financial information 24 hours a day hour by more than 2700 journalists and analysts in more than 120 countries. Birth 960 know the global news update. A search and rescue mission is underway after the u.s.s. John McCain collided with a merchant ship off Singapore correspondent Alex Hanton the u.s. Navy says 10 sailors are missing and 5 are injured Navy Osprey aircraft and Sea Hawk helicopters are assisting in the search tugboats naval and a Coast Guard vessels from Singapore are also involved in helping find the missing sailors President Trump is a national address tomorrow night to outline his strategy for Afghanistan Defense Secretary Jeh Madison's he supports the as yet undisclosed plan but has made it clear I want to be the one to announce to the American people so I'll go back to New York Times is reporting that the president's decision is likely to involve the deployment of several 1000 more troops to Afghanistan the comedian Jerry Lewis has died he was 91 years old s. And p. Futures down 3 and a half points the Nasdaq futures off 14 I mean Cate's. And I'm Brian Curtis in Hong Kong Let's get you caught up on this hour. Top business stories and the markets Asian stocks are mixed as investors try to discount war drills scheduled for the Korean Peninsula this week benchmarks in Tokyo Seoul and Sydney fell while they rose in Hong Kong and Shanghai investors are also trying how to discern and read the departure of Steve Benen from the White House I asked anchor Patel former CIA What r. Squared macro management what he made of the exit question really difficult to tell so on one hand I think it's I think it's provide space for the markets to say will meet maybe there is a shift in the trumpet ministration maybe kind of the public pressure is kind of weighing on the mission to change what it's been doing and I'll provide a clean slate for them to actually go ahead and to what the tax cuts for example but on the other hand it leaves a void and we don't know what comes next and that uncertainty I think is what led the markets to pull back meantime Richard Harris is c.e.o. Of Port shelter Asset Management he weighed in as well well we think it's wonderful entertainment is like watching a papal Colts you know with people coming and going but you know squat in 16 bands come until mid saying well it's the end of the Trump presidency now a movie on is a bit like constantly off to seize a dozen of them in lots of praise in China United network communications rose by 10 percent in Shanghai China Unicom rose 3 and a half percent here in Hong Kong the Unicom group was among 6 s. Always picked by policymakers for a pilot program in mixed ownership in China and telecoms firm Vocus group has ended talks with k k r and affinity Equity Partners they had made separate bids for the company focus said it could not support the terms as offered the stock is down 16 percent the oil price now $4853.00 That's up a couple of cents the yield on the 10 year treasury 2.19 percent mobile news 24 hours a day powered by our 2700 journalists and analysts in a 120 countries from Hong Kong I'm Brian Curtis this is Bloomberg. You were listening to. Bloomberg best on Bloomberg Radio I'm going south still to come on this edition of Bloomberg bass will be speaking with legendary investor Leon Kuperman Plus an exclusive interview with Sheryl Sandberg about her latest book. Omega Advisors founder Leon Cooperman has been in the news lately after the investment Titans spoke out against Bill Ackman has pushed for management changes that Automatic Data Processing he spoke about his objections as well as the overall market with Bloomberg Tom Kean and David Gura I believe you she was older Kuperman letter to Mr Ackerman and his attention to Automatic Data Processing Frank Lautenberg company what is in that letter Mr Kuperman you know I want to make something very clear a couple disclosures I have no dog in the fight I was a director for almost 20 years I left the board about 5 years ago I gave all my stock away to charity when I left the board there was a big mistake the good the stock crippled since I left the board to give me cash to get the stock and I know I respect Bill Ackman you know I was Ok Larry spec for him I consider the behavior. The best described as foolish and appropriately responsible the company deserves more respect to paralyse understanding it spent 6 months studying the company which about 8 days left before the window and Nominating Committee closed he went to the company very late in the process and asked him to delay to closing the window in appropriate requests he owns what 10th of one percent of the company in terms of actual stock to wrestle derivatives securities. And he didn't plan to go the company well before the window closed or he could be patient and wait to hear this company to basically done a phenomenal job to investors betting Greyman intelligent. The i Pod I bought a size that you know analysts of a white man doing twice in a decision making process one is to the numbers and ways to face to face the numbers are unbelievable 80 pay billions of them and you'd never see all quiet on the hedge fund All Quiet on the equity market front volatility now is a lone low can Liam Kuperman do business as usual in the milieu of the quiet of this August but he does have to be patient so we have to be patient that this implies that I think that everybody is been busy moving out of the risk or. Because there the Fed has conducted monetary policy to fashion and forcing people to take on more risk you know if you were a buyer of t. Bills because you were a risk averse somewhere along the way you concluded I can survive 10 so I'm going to buy keep bonds and take duration risk the buyers keep buying as well I'm not impressed by cancer vibrant 2 percent and I take industrial credit risk so you move conduct a credit inductor credit by I said Well 4 percent doesn't impress me I'm going to go for high yield and I yield buyers that Blago to break structured credit market and then it struck guys as well but right but it might find that equity so everybody move that the risk oeuvre and when the circumstances change there is a risk in the market but you know when circumstances change to the market Ok but basically as I've said repeatedly bear markets don't materialize out of macro conception they come about for fundamental reasons you know and I bow out of that get a 5 for reasons that you don't have a bear market reason number one to most prevalent that the stock market smells it on a coming recession and declined it dissipates a recession the economic numbers don't read recession in the United States they didn't slow growth due to an epicenter with some Excel aeration Europe is doing better and then a growing 60 percent compared to doing a modestly better. So the global economy is growing with a 3 percent recession doesn't seem to be the forecast Ok Number 2 the Fed turns hostile take a punch at the Punch Bowl we have the Fed moving extraordinarily slowly Ok and they don't present valuation levels presently are low interest rates but I happen to agree with Mr Greenspan says that you know Bunder a bubble but I believe he felt that way for 3 or 4 years been wrong all been wrong a bunch of surgeries you have. A significant correction if the market becomes Q 4 it is pricing very sloppy and you know I would love to comment that join Templeton coing bull market the board of pessimism the growing skepticism and maturity out of them isn't it Diane euphoria I see very little signs of euphoria the 4th reason you have a bear market or some significant you political event get you by surprise but only to Sir John Templeton I guess is goes back to Mr Weinberger your Goldman Sachs are you in the mood now the trees are growing to the sky you know interest rates not go sky. You know number one we live in a global economy and we're tied into European interest rates as well as their own and threats I think what I would say is dead and we returning to normalcy we've been in a very abnormal environment so let's say normal is the following have to what I think growth the labor force 100 percent growth and productivity 2 percent we think 2 percent replaces 4 percent nominal and that nominal at a 4 percent now but a world I think the Fed funds rate ought to be 2 percent and if the new government before then it may take a year to get a complete set of Fed funds and make a 2 to 3 years to get a sense in that world a multiple of them or it could be 17 going that was a mega advisers founder Leon Cooperman speaking to Tom Kean and David Gura And coming up a conversation with Facebook's chief operating officer Sheryl Sandberg you can see all the Bloomberg best stories at best God This is America. Now more than ever ready for tax reform we are go to Eisner ramp or dot com slash 2017 tax reform you are in d.c. Sports radio with. N.p.a. Is investigating up dead at home news out of the National Basketball Association the league has confirmed they are opening an investigation into alleged tampering by the l.a. Lakers concerning Paul George the league says the Pacers asked them to open the probe n.f.l. Preseason couple of finals on Sunday including the saints be the Chargers in l.a. $30.00 to $70.00 finally that one Steelers be De Falco $730.00 major league baseball among the finals the Tigers top the Dodgers 61 l. a 6 game winning streak snapped Red Sox of the Yankees 51 Jackie Bradley Jr 3 r.b.i. In the victory Marlins got a bad 64 behind John Carlos Danny it is 45th home run and had 3 r.b.i. Josh Bell a home run for r.b.i. For the Pirates of the Kargil 63 cups topped the Blue Jays 65 in 10 an exe Twins beat the Diamondbacks while 5 they won for a row at the 0 rays over the Mariners 3 nothing angels top Baltimore 5 for halos $18.00 of 10 this is n.b.c. Sports radio. Hi I'm Jay foreigner c.e.o. Of Quicken Loans every day people ask me Jay did I miss out have the rates gone up the answer is no rates are still low and it's a perfect time to refinance your home especially if your mortgage rate is higher than 4 and a quarter percent if you'd like to lower your interest rate and save thousands of dollars in interest without starting over on a new 30 year loan of Quicken Loans your gauge is what you're looking for with our exclusive your gauge you can choose a term that works best for you anywhere from 8 to 30 years the rate today in an 8 year your gauge is 3 and a quarter percent a.p.r. 3.75 percent for 7 years in a row now j.d. 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Bay Area traffic and weather every 15 minutes on Bloomberg 960 this traffic report brought to you by unbound dot org Right now in Vallejo 80 westbound between the 37 Highway 377080 is a stop and go traffic right now in South San Francisco one northbound just before Oyster Point the right lane blocked by a 2 vehicle accident on the Bay Bridge good news is the metering lights are off the traffic moving freely westbound across this path right now there are young people across the world facing a tough choice continue their dream of education or drop out to help their family put food on the table you can help change their future in a single moment see how far your support can go at unbound daughter. Bloomberg 3 day weather forecast for Meteorologist Rob St Pierre tonight clear skies partly cloudy later in the morning lows 55 to 60 scattered clouds in the morning and then more and more sunshine highs 70 to 75 near the base 80 to 85 in the partial solar eclipse peaks in our area at 10 15 in the morning by tomorrow night partly cloudy skies lows 5 to 60 on Tuesday aside from some patchy early morning fog plenty of sunshine 70 to 75 near the bay 80 to 85 in line. With the Bay Area's best traffic I'm Millbank or Bloomberg 960 I'm one of 3.7 f.m. H.d. 2. Business morning and the latest new super duper world market order by more than 2700 journalists and analysts in over 120 countries we've heard 960 now global news update. The search and rescue mission is underway after the u.s.s. John McCain collided with a merchant ship off Singapore correspondent Alex and the u.s. Navy says missing and 5 are injured Navy Osprey aircraft and Sea Hawk helicopters are assisting in. The search tugboats naval Adipose Guard vessels from Singapore are also involved in helping find the missing sailors President Trump is a national address tomorrow night to outline his strategy for Afghanistan Defense Secretary Jeh Matta says he supports the as yet undisclosed plan made it clear he wants to be the one going now to the American people. Feel the New York Times is reporting that the president's decision is likely to involve the deployment of several 1000 more troops to Afghanistan comedian Jerry Lewis has died he was 91 years old as a base futures down 3 and a half points the Nasdaq futures off 14 I mean Kate's. This is Bloomberg best I'm June Grasso. Sheryl Sandberg is going into her 10th year as Facebook's chief operating officer but her achievements at the company are dwarfed by the cultural impact of her book Lean In a call to action for working women and when her husband Survey Monkey c.e.o. Dave Goldberg died unexpectedly in 2015 she started writing again and published option b. Earlier this year she spoke exclusively with Bloomberg technologies Emily Chang when you wrote your 1st public post about Dave's death you shared to many Vice about how to approach someone who's going through something tragic and you said I don't ask how you are ask how are you today so how are you today in this moment 2 years later you know I realized after I lost a of is how badly we need to deal with grief how badly retail we have not just finding what we need for ourselves but really supporting each other I realized that before last Dave I had no idea how to handle a colleague who was going there something hard what I would usually do was try to address it once you know I'm so sorry Farrah loss and then I would never mention it again after I lost I realized that even the basic pleasantries How are you. To someone who just got diagnosed with cancer or lost a child that can seem like a really insensitive question do you feel like he's still teaching you maybe teaching all of us definitely I mean I try to remember what Dave would say I try to remember the same is the way he looked at things it gets harder as the years go on I mean certainly as a parent specific situations when he when I 1st lost him I was closer to and now I face more situations of my kids that I don't have his opinion but then I try to remember that I know what he really cared about and nobody cared about for me and my generation our children and him nobody cared about for people in the workplace I've watched sander Larry take on Survey Monkey I've watched them redefine their purpose around curiosity and how people used to make decisions I know how much Dave would like that how does it change how you lead it was something that really surprised me I mean I had thought about the fact that when you lose someone you're sad or you're angry the things people talk about but no one had ever talked about was the confidence loss but then when it happened to me it made sense when people said the kind of things to me that I used to say to people which is of course you can't concentrate with all you're going through. In the days when I wanted to be at work because being at home was horrific my work was better once my kids went back to school I had nothing else to do hearing Oh of course you can cut straight that really undercut my confidence even more so now I have a different approach I of course start with do you need time off. But if someone choosing to be at work I then will not just say Oh of course you can't concentrate but say thank you for that contribution even the most basic compliment can really help someone who's facing a personal crisis facing a cancer diagnosis struggling with something in their personal life because it tells them that you still think they can contribute I also Facebook has increased paid family leave for event leave as a result of this how has this shaped Facebook's culture Well this is a really important conversation not just for Facebook for all come. I believe we need 21st century companies that make a 21st century commitment to employees but I mean well what it means is that our public policy in this country is in a really bad place we're the only developed country in the world to not have maternity leave the only one you know we're one of the only countries in the world that doesn't have paid family medical leave companies have an opportunity and an obligation to step into the gap and what's important for companies to understand is this is a tradeoff between the right thing to do and a smart thing to do this is both I actually believe it will create the kind of companies that will outperform in a globally competitive environment now I know you've been quietly disseminating this philosophy around corporate openness and talking to other C.E.O.'s What are you telling them the sort of the policy side we need better corporate policies parental leave both mud turtle and paternal covering all forms of adopting a child in childbirth equal for men and women at Facebook we offer 4 months and we encourage people to take it and Mark Zuckerberg set a great example himself paid family medical leave so that people can take care of themselves and children and bereavement leave. I didn't think much of operation leave until I lost Dave and Facebook had really good policies in place and we extended them even further we now offer 20 days for someone who lost an immediate family member and 10 days for extended family members I've been talking to a lot of C.E.O.'s in companies about extending their bereavement leave Master Card and now and I was so happy to applaud them for it Survey Monkey obviously close to my heart have done it as well and I'm hoping a lot more companies will step in and offer substantial and paid bereavement leave it's hard to leave any job for a period of time a tech move so fast are people taking a leave our dads taking the leave that they're given here we encourage dads to take the leave I think one thing we do which is a good policy is we give those 4 months over the 1st year and if you want to take it all up front as 4 months that's great and we're happy to encourage that but some people actually have said my mother my mother in law is there for the 1st month I want to do it a little bit later so we're actually one of the ways we encourage people to take the full leave is make even Atlee of really flexible marks just gone on a tour of the entire country to connect with real Americans take the time Well Mark's Mark wanted to make sure he'd gone to all the states and you know it was interesting because when I 1st came to Facebook Mark told me he had never really gotten to travel that much right he started a company before he graduated from college so he took a trip where he could see different parts of the world I think he really realized he hadn't even like understood and seen his own country and I think what he's learned and experience has been really important for Facebook because it's helping inform our products when he rolled out a new mission of being community based empowering communities that was coming from a deep place of experience of what of what he was seeing was being found and being lost in communities Mark and I and I think all the people that work here we know we have a very big responsibility and we want Facebook to help do good in the world we always have and I think Mark having that direct experience base is helping us build the products that will build community. Facebook's new mission is not just to connect the world but to bring people closer together as you say through groups do you think groups are the future of Facebook and the groups are important because they're bringing people together they are one product manifestation of a community Marx talked about concerns about isolation and nationalism that have risen despite Facebook's efforts to connect the world and groups coalesce around like minded views and interests you think Facebook is part of the solution but is it also part of the problem well any technology that's ever been invented here has been used for good and sometimes used for bad and we work really hard to make sure the bad is that is not on Facebook I think groups are helpful I think groups bring people together on different issues and you actually see a lot of groups that are pretty broad one of the women I met with has a group bringing women of Muslim and Jewish faith together so very much on purpose bringing people together and there are a lot of groups that serve the purpose of bringing people who wouldn't otherwise connect to gather on line and that's one of the powers of technology a huge part of our user base has a cross border connection and I think about that in my own life when I was you know in high school or college I didn't know anyone who didn't have a hard time Sheree I grew up in Miami I didn't barely knew anyone who wasn't from Miami but if I were on Facebook now growing up I'd probably have a cross border friend I probably have a friend on Facebook from another country would you ever consider showing people news or information from the other side of the aisle like you know what are people who think differently than me thinking and we do that I think people worry that Facebook you know puts you in a news feed that's all the people of the same views as you that's not what happens because of Facebook you can hear from more voices and on average by extending to more voices you actually see broader views than you otherwise would see now that doesn't mean everyone's being blasted by views from the other side all day they're not an average Facebook brought into the views I still think we all can do. More to learn more about what other people think and what their experiences are Mark told our friend David Kirkpatrick that Facebook is more like a government than a traditional company and probably even more so now at this scale how does Facebook manage the scope of its policy media and all of these different responsibilities in this modern age where we try to do it by empowering local teams we know we're not going to get everything right from memo park so with public policy we've hired local teams on the ground we have extraordinary leaders around the world and they make sure we understand what's going on in those countries we are not perfect with so many people posting to Facebook we make mistakes we're trying to address those mistakes quickly and correct them we're also really investing in community operations we're hiring another 3000 people to work with our community that's a pretty serious investment for us and hiring them all around the world we want to try to get the policies right get there quickly and make sure we're staff so they can we can be as responsive as possible if Facebook is more like a government then a company What's your role well we're going to we're company we're company that's broadly used we have responsibility and deep responsibility to the people who use us to put out a product and service that enables them to share an keeps harmful things from happening we have a responsibility to the people that use our products when they report something we try to get to it as quickly as possible and we have a responsibility to build teams around the world that have empathy for local users and that's why we're trying to do Facebook is pushing forward with artificial intelligence you're hiring 3000 people to help moderate content ultimately some day though this is a job technology might be able to do what do you see is the impact of automation on the human worker automations had very profound impacts for workers and we know that right I mean I am old enough to remember when you used to get money from a bank and when used to check in with a person to an airline ticket and so we see how automation is taking jobs that would have been done across lots of industries technology can. To be used to grow jobs so we have 70000000 small businesses that use Facebook on a monthly basis and we just announce that we have 15000000 small businesses using Instagram on a monthly basis these are mostly non tech business is that are using the power of technology to find their customers and build their businesses we study our impact on the economy regularly and we care about the millions of jobs we create and we work really hard to help small businesses use technology to help them thrive and importantly not just tech that's Mrs Bell businesses that was Facebook's chief operating officer Sheryl Sandberg speaking with Bloomberg Emily Chang and that's all for this edition of Bloomberg best if you have a Bloomberg terminal you can see all the Bloomberg best stories at best our show is produced by David Satcher mint and Miller Ruttenberg I'm super bowl so this is the number please the following is a commercial message this is the 5th least skills report brought to you by the McCallum Graduate School of Business it better university today's leading companies upgrade. 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She didn't just visit the sick and poor she moved in with them because they needed her help Mother Teresa couldn't do it all but she gave her compassion to pass it on from the foundation for a better life at the Values dot com Bloomberg 3 day weather forecast for Meteorologist Rob St Pierre clear skies this evening partly cloudy skies early morning hours 55 to 60 overnight scattered clouds in the morning then more and more sunshine highs 70 to 75 near the 50 have rather 80 to 85 in London a partial eclipse begins at 1050 or rather peaks at 10 15 am tomorrow night partly cloudy then on Tuesday some touchy fog in the morning go plenty of sunshine later on high 70 to 75 year the 80 to 85 in line with the Bay Area's best traffic I know Baker Bloomberg 960. 4 from Berkeley University at bloomberg dot com and on the radio plus mobile is clearly w over here as everyone over $3.00 f.m. H.d. To San Francisco.