Apple news today. Company getting a big investment from Berkshire Hathaway, the Ride Sharing Service he just invested in there could be looking for a u. S. Ipo. Shares of yahoo up on quicken loans founder part of a Consortium Bidding for the company. Warren buffett says hell back it. Major m a deals, pfizer making a 4. 5 million purchase. But first, Berkshire Hathaway has revealed a new 9. 8 million stake in apple. Meanwhile, apple ceo tim cook visiting china in an effort to reinvigorate sales in that country. Hes expected to meet with chinese officials and is already met with the president of didi just days after apple announced that billion dollar investment in the ride hailing startup. Met with some other startup creators as well, posted waebo which has gone viral already. I think the story is the app store. 7 billion in business that regular Chinese People have done on the app store. Between that billion and billion last year and i think what thats about is to say you may think tha
Diplomats say portugals Prime Minister tops the second secret poll to be the next secretarygeneral. Unlike the first round, Antonio Gutierrez got too discouraged votes leaving the contest in play. U. S. Intelligence has assigned more than 1,000 spies to help with olympic security in rio. Nbc news reports its part of an intense effort to protect the games and american athletes. Naval and Marine Commandos from the special ops are in brazil. Larger military units on stand by. Global news 24 hours a day powered by more than 2,600 journalists and analysts in more than 120 countries. Im mark crumpton. This is bloomberg, bloomberg west is next. Emily im emily chang, this is bloomberg west. Coming up the nasdaq and s p 500 end the week with a flourish, both ending at an alltime high. Well break down the numbers and the historic day. Last year shattered all of the records for deals in the tech sector. How does 2016 stack up . And tesla putting a dollar figure saying the cost may exceed expectat
Islamic state. Italy agreed to let armed u. S. Drones to take off, but only to defend American Forces targeting extremists. Day powered24 hours by 2600 journalists and analysts in more than 120 countries. Im mark crumpton. Emily im emily chang and this is bloomberg west. Coming up, fit at the latest in the tech parade. A of trackers may be gaining traction. Tech made tech megamergers maybe you rolling in. And instagram takes a page or maybe a whole chapter from the snap chat labor. Changeslatest product enough to take on the competition . First two are lead investors liking fit it and sc posts earnings. To 586 growing up 46 billion from a year earlier, suggesting new fitness trackers are getting a leg up. Gross merchandise sales, the value of the goods that passed through the forms increased to 670 million. So are things turning around for the stock market rookies that went public last year. Here with me to digest is cory johnson and the cofounder of Elevation Partners and my guest on
Highs today and both Companies Near equal and market cap. Are these tech stocks the ones you need to have in your port follow portfolio right now, guy . Steve has been all over this but given the valuation and run and the stability of earnings, facebook is the name for me. What do you say, dan . If youre picking a would you rather, id say facebook if you didnt have to pick. Both . Listen, i have a lot of fundamental issues with amazon. If you k llook out five years, facebook will be more valuable. I cant tell you what will happen from now and then. Amazon, karen and i were talking this company had a cumulative 500 billion in sales and 5 billion in net income in generally accepted accounting principles. Thats 1 . They have used investors money. Their willingness to invest to take market share and were going to get to that but to me thanks is a bit of a shell game and i dont like it. What facebook is doing is they are front of a secular. They built things other people cant do and the lea
Us this morning is jon fortt and good morning to both of you. Regulators are ordering apple to pay back taxes to ireland. Lets get to Julia Charter will i in brussels with the latest. Julia . Thanks, kate. As you quite rightly said, apple has been ordered to pay over 14. 5 billion, the irony is ireland doesnt want the money as the irish finance minister, they say they believe apple owes nothing and they want to protect the relationship they have with Companies Like apple and other u. S. Firms apple has hate back, saying they ultimately believe this ruling will be overruled, but i think the statement cuts to a bigger issue, which is what does this mean for other companies trying to invest in europe . Their statement says it will have a profound and harmful effect on sleismt and job creation in europe and apple follows the law and pays all the of the taxes we owe wherever we operate. This is a point i think the competition commissioner made to me, that this is not really about the tax ra