That makes some sense to me. They are not systemically important. I dont know what that would be. My strong preference would be we continue to add meaningful stress testing for them. Its a successful tool. Warren i want to followup on the question about full employment. Congress gave the Federal Reserve a dual mandate, to pursue maximum employment and keep prices stable. The Unemployment Rate is 4. 1 . 4 in thet will get near future. An Unemployment Rate this low would have been considered full employment. That would be good news for the workers. That should be accompanied by higher wages. Wages of barely budged. Let me start by asking, given that wage growth is so weak, is the labor market full employment . Jerome powell full Employment Concept sort of precise in our thinking. A number of indicators would suggest we are at around full employment. I will point to a couple that suggest there is more room for growth area that would be growth area did growth. There is no sense that the ec
And other americans. Global news, 24 hours a day, powered by 27 hundred journalists and analysts in 120 countries. This is bloomberg and Bloomberg Technology is next. This is Bloomberg Technology. Hammering out details to grab a andive stake in uber seeking a discount to invest in the startup. Our conversation with meg whitman, as she prepares to leave the company. We talk about her political ambitions. 10,000 andoaches we discuss the true value of the currency. Is leading investors to buy a huge stake in uber. A billion direct investments in the start of. This would put the uber valuation at 40 billion. At the most recent valuations, it was 69 billion. Joining me now is a Management Capital partner who was the head of communications in the americas and also with us is someone who covers uber for us. Where do we stand right now . The am waiting for documents to get sent out in the next few hours. Today is the expectation and it is a little behind schedule, as has everything been in thi
Committee democrats late into colleagues for forcing the bill through. The committee voted along party lines to advance the bill and gop leaders are hoping to take up later this week. A suspected libyan a militant was found not guilty of the most serious charges of the benghazi attack. He was convicted of terrorism charges but acquitted of murder. The attack killed a u. S. Ambassador and three other americans. Two more americans died in a mortar attack at a nearby cia complex. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. I am alisa parenti, this is bloomberg and Bloomberg Technology is next. Emily i am emily chang and this is Bloomberg Technology. Softbank is hammering out details to grab a massive stake in uber and seeking a discount to invest in the startup. Plus, our exclusive conversation with with meg whitman, as she prepares to leave the company. Friday ofout a wide topics, including her political ambitions. 10itcoin a
First to our lead, uber losses widened in the third quarter. The Ride Hailing Service lost almost 1. 5 billion in the period. It all came to light as shareholders reported tuesday night as part of a formal bid from a softbankled consortium looking to buy a large portion of stock. Softbank to get a nice discount. Theres a 30 discount to its last private valuation, coming in at 69 billion. We caught up with someone intimately familiar with ubers inner workings, lane castleman, the managing partner at greenbrier and the former head of uber communication in the americas, and eric newcomer. This is the opening salvo from softbank. And its consortium of investors saying, we will pay 33 a share, which translates into that 48 48 billion dollars valuation, and see if we can get enough people to bite at that to meet the 14 of outstanding shares of we want to acquire. Molly and what is the likelihood of them acquiring that . You know, there is a lot of appetite for liquidity and that is what soft
Powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. Bloomberg technology is up next. Cory im cory johnson in for emily chang, and this is lumber Technology Bloomberg technology. After massive gains, can be tech continue its run . And President Trump resizes amazon on twitter. Should the tech giant be worried. And more from our best conversations of the year with candid discussions with c palmer and meg whitman. The sector outperforming the broader market, breaking records , up nearly 30 for the year i did not see the final numbers,. Pretty dam close to that it was a really amazing year. Just across the markets, i think. You have been investing in tech as long as i have known you. What a run. David it was a good run, but it. As a nasty close today in the scheme of things, i think what really distinguished tech was that growth was scarce and secular growth stories, as characterized by corey you mean topline growth in technology . David i mean