on "bloomberg best." ♪ matt: hello and welcome. i am matt miller. this is bloomberg best, your weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. the week began with a blockbuster media merger as at&t announced its intention to buy cable giant time warner. >> now to the big deal everyone is talking about. at&t agreed to buy time warner for $85.4 billion. is this even possible? >> it is possible. you just have to turn the clock back 18 months or so, when at&t bought directv. a a lot of people invest in at&t or in indices associated with -- or in indexes associated with at&t because it produces the dividends. they are looking for companies that are cash flow positive so they can keep churning out money and pay dividends. at&t is ultimately seen as a utility to many investors. directv and time warner are big, large moneymaking machines. >> people talk about vertical integration. there's this thought that vertical integration brings the cost down for consumers. but this is basically at&t adding another asset into their bundle. a lot of industries are effectively in decline, whether it is the time warner business or at&t's own business, facing challenges on the wireless front. >> at&t is really betting on content, going for something very aggressive. a decent chance of regulating -- regulation push back. this is a game changing transaction. >> apple shares are lower after trading. the company posting fourth-quarter sales that fell 9% from one year ago and brought the company its first annual sales decline since 2001. the other number we are watching -- iphone unit sales. it sold 44.54 million units, down 5% from a year ago, but remember that included just two weeks worth of sales for the iphone 7. what do you see as the highlights? >> apple will return to growth for this q1 holiday december quarter. emily: they say. >> they believe. they are estimating revenue above what the analysts have been looking at. other than that, everything is in line with expectations in terms of estimates for iphone numbers and the q4 revenue numbers. >> what investors have been asking for from tim cook is make apple grow again. the outlook in terms of revenue for the december quarter is excellent. the company will return to growth. that is what will get the stock moving again. >> let's look across german banks. deutsche bank set to be considering not paying bonuses in cash in order to boost investor confidence. people familiar say investors -- executives have formally discussed pending out shares in the non-core unit instead of cash rewards. >> it is a really intriguing scoop, because you could remove a bunch of costs this way. you could temporarily pay bonuses like that. you could also help capital ratio by getting rid of the non-core unit. credit suisse did a similar thing a couple of years ago, which was profitable for the employees. but then the rules changed. it became less attractive for the company to do. on top of that, there was a morale issue. we will have to look to see if they can keep the motivation up. motivation is behind the revenue in deutsche bank. to lose more motivation would hurt them. >> deutsche bank unexpectedly posting profits. the securities unit reporting a jump in revenue. barclays reported a 35% jump in earnings. let's start with the analyst wrap out of deutsche bank. we don't really know about revisions, and we don't know more about the doj, so what are the investors saying europe? >> the reason you have seen the stock jump is because there are still so many questions outstanding. certainly, people are happy to see capital increase. in a relatively quiet quarter, in terms of revenue up, cost down. it is kind of on track with their plan, but certainly, the big questions still remain. jonathan: this is night and day. deutsche bank versus barclays. yes, trading revenue up on the debt side, but it will be a tough year the rest of 2016. just davies says he likes what he is seeing. what is the story? >> barclays can afford to be a little bullish, because it started its investment bank restructuring a little bit earlier. it is the same with such a bank in fixed income trading. but with all of the noise around deutsche bank, one of their head of investment banks says they have lost market share because of distractions. maybe this market share is not only coming in the u.s. for barclays but also to deutsche , bank. this ceo shied away from saying that, but certainly hinted at it. there will be a lot of volatility in the investment banks. as they warn, a couple of good courses in a row does not mean they are out of the woods yet. >> banks headlining today's earnings. another day of ubs and others coming in above estimates, buoyed by the debt provision. -- by the debt divisions. what is the take away? >> it is not all happy days yet. take rbs. the bottom line is still affected by litigation and restructuring costs. but the core decisions are doing better. bond trading lifting. even deutsche bank. the take away has been you look at the course of the numbers being good, and investors are looking well beyond that looking at efficiency, cost cutting, restructuring. >> the u.s. economy picks up in the third quarter. the economy growing 2.9%, the biggest rise in two years. >> this is a story i want you to break down. what softened with the consumer? what picked up and will continue? >> that is the problem with this report. it is not as good under the hood. we saw exports rise. according to the congress department, a big rise in soybean exports during the quarter. that will likely not be sustained. we did see back earlier in the year the dollar weaken a little, , which has helped, but now the dollar is stronger. the inventory swing was accounted for about 6/10 of a percent of the rise of gdp. you take out inventory and net exports, and you end up with about a 1.4% growth rate, which is about where we have been growing. you can see where we could slip back in the next reports the next couple of quarters, if consumers do not pick up spending. matt: we will review more earnings reports later in the program. and monte paschi's ceo says he found a solution to the bank's problem. he tells us all about it in an exclusive interview. up next, more of the week's top is the stories. -- top business stories. a plan to finally upgrade london's heathrow airport. will it actually fly? >> we believe there is an economic case for the expansionof heathrow, but it cannot be done at any cost. matt: this is bloomberg. ♪ ♪ matt: this is "bloomberg best." i am matt miller. quite a few big deals got done, but others hit regulatory snags. we continue in the e.u., where there has been a hitch in chemchina's takeover of syngenta. mark: chemchina missing deadlines to buy the swiss herbicide maker. how much of a big deal is this, that chemchina did not submit on time? >> they had a deadline of next -- of friday to do it, and there it is -- there is a decision on next where the commission gets friday, to decide if it clears the deal without any provisions, or does it open a more in-depth probe. that can take months. with the share drop, we are seeing the level of uncertainty. waiting for five months for approval is tough when you want the deal done as fast as possible. when you look at the whole realm of possibilities, that is -- >> shares in germany slipping after the german economy minister opened a review of its takeover by china's grand chip investment. the move comes as germany seeks tighter control of foreign investments, not to mention the e.u. is also weighing in. >> it is the latest move by the -- sign in a series of moves by the german government to get a grip on the chinese influx of investment, direct investment, which has reached a record this year globally. europe's biggest economy is obviously a great target. tom: this is something for everyone in equity trading. td ameritrade is trying to buy scott trade. a roughly $4 billion transaction. it is a small deal but at the heart of so much online trading and the digital revolution. >> toronto dominion is td ameritrade's largest shareholder. what is in it for toronto dominion? >> there is scale and cost savings. the scale comes with 3 million customers they are adding, not to mention $170 million in assets under management. on the cost side, you put the companies together. the estimate is they can save $500 million per year. >> we have about $1 trillion in client assets when the deal closes. what td ameritrade has that the founder of scott trade recognized, is we have a number of platforms that are cutting-edge that he would like to have but did not have the scale to be able to can invest in. combined, we have a lot to offer. >> tata group has unexpectedly removed its chairman, cyrus mistry, in a sign of conflict at the top of india's biggest conglomerate. what is going on here? >> the truth is there has been no explanation. we do not know why he was removed. in recent years, he was pushing for more fiscal prudence, because debt levels had escalated in excess of after the $30 billion company bought brands like jaguar and others, and he refinanced loans he sold , assets to tackle debt. people are already unwinding some of its assets to get that. -- to pay debt. he was considering winding up operations after years of losses. also, stakes in indonesian coal mines. the board may not be in step with mistry. >> this is looking more like a bollywood movie. mistry accused the board of not giving him an opportunity and wrongfully sacking him. he says the company faces -- the group has nearly $18 billion in write-downs due to five unprofitable businesses. they are indian hotels. tata steel, automobile vehicles -- he calls them legacy hotspots. >> let's talk about infrastructure and air force. the british government has given the go-ahead to expand heathrow airport. the government has at least come down on one side. >> seven years ago, david cameron was saying no if's or butts, there would not be a runway. it is a relief to get this decision. >> what does this do post-brexit? >> heathrow's expansion was vital before brexit, but it is even more necessary. we can deliver the benefits of heathrow expansion as quickly as possible, including getting more flights off of our existing two runways, allowing to connect more u.k. regions. the more britain can benefit as much as possible from the european union. >> it is a missed opportunity. allowing a spanish-owned monopoly like heathrow to waste $80 billion to build a runway that will not be delivered until 10 years and will already be full is not a solution. we need three additional runways, one each. at least you put competitive pressure on each airport to deliver an additional runway in a time and cost efficient manner. >> we believe there is an economic case for the expansion of heathrow. but it cannot be done at any cost. there is no way the cost should be passed on to our customers. if heathrow wants to expand, they should bear the risk, and they should deal with the cost. >> we are talking samsung. shareholders have elected lee jae-yong as the head. >> he's the son of the current chairman, hospitalized after a heart attack in 2014. j.y. is already vice-chairman. in general, let's look at the profits. third-quarter net profit falling 70% after having to pull the note 7 smartphone. the estimate is a revised estimate, which came in after they had to recall the note 7. the mobile unit is operating at $87.8 million u.s. a record low, down from $2.1 billion. mark: this is the biggest piece of economic data since brexit. since the day after brexit. whoa. bit of a surprise. to the upside. little signs says the national statistics of a pronounced brexit affect. there you go. the economy continues to surprise, growing by 0.5%. >> it is higher than we were expecting, but i am not that surprised. when talking to our members, we have seen quite a bit of resilience in the economy, and certainly in terms of the consumer, they are carrying on. that probably underpins some of the services. even on manufacturing, surveys have suggested stronger growth related to how the pound is helping exports than the official data suggests. i think it is too early to read in what is the impact of brexit and it is far too early to make any sort of judgments. bonnie: -- vonnie: m&a, qualcomm has finally reached an agreement with nxp. they also will allow it to diversify beyond mobile chips. >> lets to find the reading -- the rationale behind this deal. >> this is a defensive deal by qualcomm, which wants to move away from handsets. they need to diversify revenues and do so quickly and in a big way. this is an apt deal from that perspective. you're getting into the auto market, which is a slower growth market relative to what they have been historically, but it , moves one third of the revenue or so from handsets and put it into an area growing, that is profitable. ♪ ♪ matt: you are watching "bloomberg best." i am matt miller. it has been a challenging week for monte paschi, europe's oldest bank. facing a capital shortfall, the ceo marco morelli wanted a plan , -- outlined a plan to shore up the bank's balance sheet. he added details in their next -- in an exclusive interview with bloomberg television. mark: shares of monte paschi surging after announcing its plans to cut 2600 jobs and sell bad debt in a bid to attract investors, to turn around. bring us the key takeaways from the business plan. >> there were not a lot of fresh details. mr. morelli, the ceo, confirmed they are looking at raising 5 billion euros in the capital raising, in the transaction they want to do at the end of the year. you have confirmation of the disposal trying to get bad loans , off of their books. you have bits and bobs of cost-cutting. morelli on a conference call with analysts this morning repeated that they have not received interest from potential, what they are calling "anchor investors," large investors and institutions. he did not give any names. but we still do not know who these people are, how much they are willing to invest. the bank needs to raise 5 billion euros, possibly by the end of the year. >> are investors actively approaching you? are you having to pick up the phone and call them? marco: investors so far have been proactive in approaching. either at the bank or investment bank working for us. as i said, at this stage, we could not engage in a four-month dose. >> do you have a number in your head for the amounts of the capital raising you want to come from cornerstone investors, or are you open to all things? marco: we are open to things. this is going to be a mixture of interest from core investors, interest from institutional investors. when you do find out the -- it isn rate of difficult to gauge as we speak, -- what do you hope for? -- >> what do you hope for? the amount of debt, the amount to raise. what is your best ambition on this? the three legs of this are tied together, are they not? -- aren't they? marco: my ambition for the bank is to look for long-term stability. when he to make sure that the bank eventually -- we need to make sure that the bank eventually -- >> how much of that $5 billion market would you like to see converted from debt? marco it is difficult to make : decisions, to be honest. we actually receive huge interest from shareholders to -- at this stage, it is difficult to come with a firm number. the end of the day, we want to make sure the bank raises $5 billion -- 5 billion euros, it is the base upon which we would project the plan, and this is what we want. matt: straight ahead, more of the week's most interesting interviews. what will 2017 look like for banks that do business in great britain. ceos gathering over obamacare. -- ceos see the storm gathering over obamacare. >> the next administration has about nine months to make something happen. matt: this is bloomberg. ♪ . >> of what's your read on the current health of european banks? >> the european banking sector has gone through a lot of the improvement. it has significantly strengthened its tactical position as indicated by most banks. as far as international list system ranks are concerned, they are under a much longer and systematic -- if i may use the analogy of supervision by the authorities, i think it is certainly a reassurance to the market that they are in better health. managing imf director christine lagarde. now, this week in new york, bloomberg hosted its annual year ahead summit giving a forum to --ress the most address urgent issues. let's start with the dow chemicals ceo. he sat down with bloomberg's editor-in-chief john mikel's weight. mickelthwaite. companye managing each separate and we are also managing for this combined future. fitting it into three. you are welcome, my friend. two going into one going into three from a cultural point of view and an entity creation point of view. i am employing a lot of accountants and bankers and lawyers. the regulator is looking at that and trying to understand agriculture. all of you understand one of the strongest lobbies in the world at all their indian europe, their agricultural sector or is very critical to them. somewhat protective. remedies, we are into phase two, which means we are in remedy negotiation. you notice i have ducked your questions so far. so -- [laughter] >> but look, in the scheme of value creation, just a remind you of the numbers, this is a $130 billion deal that would create another $30 billion of value for the shareholder at zero premium, tax-free. you know it is worth a few , months of delay. and really, what we are doing with our investors is walking them through the clarity of each of these steps. we will get noise out of these jurisdictions, that you and particular, but i would allison -- i would not listen to the noise. next year year, early -- if that includes february, i will give you that answer. ♪ >> let's go to the news of the day, 25% forecast uptick in premiums. that alert came out on bloomberg yesterday afternoon. what is the mark burley knee read on that forecast? what does it say about the state of the obamacare exchanges right now? >> we are heading into a premium spiral that will occur as a result of not having a balanced risk pool. the law was built around having zeroed-out enoughol from not having young and healthy people covering sick people. that is the paradigm around health insurance, when we lost five years ago. when you try to create balance risk pools in the market -- what is happening is that because the bill was not passed and we have weak mandates and etc.. we have a risk for running 10% or worse than what you would call a zero balance risk pool. if you think about the amount of premiums and exchanges it is about $44 billion a year, that means there is probably about $4 billion worth of losses because the risk for an risk adjustment is built around a zero balance account, people who pay in help the people who lost more. what is happening as everybody is losing so we are all settling at 10% below breaking even. everybody is losing money in the exchanges. >> president obama was in miami talking about the affordable care act and he used the analogy that the affordable care act is like a starter home, it is better than having no home at all, but there's a lot of work to be done here. what you make of that analogy and for the next president, donald trump or hillary clinton, what is the first thing he or she should do it how much time to the have to do something to reverse this spiral you are talking about? >> the next administration has about nine months to make something happen before those numbers we saw today appear tame compared to what could happen. you have five states really have one insurer who will get all the rates -- risk and that will drive rates of higher. >> from our perspective, just narrowly from the financial sector, and our institution, there is nothing good about brexit. we love the rule of law in england. we love -- our folks like working in london. you have the ecosystem and infrastructure, the pipes, the plumbing, everything all headquartered there. we will have to have our headquarters in europe. we will probably have to have more capital and -- liquidity in legal entities. we will have to move employees and their families from london to other places and we are trying to minimize the absolute number of people we do that for. hopefully we can transition that. another thing i have said is that it causes you as a global firm to look out and say, ball of the lines of businesses you have, particularly trading businesses, do you need to have trading businesses in london, frankfurt, paris, or new york or hong kong or tokyo? i think it will open that door of people looking at exactly why they geographically are placed where they are placed. >> which places do you think will gain from that? you mentioned new york, but others? >> based on time zone, new york is the one that -- from infrastructure, time zone, and other perspectives, if there is to be a move out of europe, it will head towards the u.s. i am not saying it will be large scale. you will not see a large-scale deterioration of our operations, but on the margin, the assumption that everything would move to another european country is not necessarily the case. ♪ matt: also this week, erik schatzker traveled to capitalize -- canada's most important investment of the year, capitalize for kids, a gathering for top financial leaders that benefit children's health initiatives. big-name investors share their thoughts, beginning with tom wagner. ♪ erik: how would you describe your state of patience? are your limited partners giving you the breathing space you need, or do you feel like there is a fire under your behind and you have to invest? because that is what they hired you to do. like the onlyl time we feel pressured to invest is when you see the broad credit markets trading at high yields. erik: like january or february. >> people want to know the nature of the risk. like january or february. at any other point in time, investors know we are able to find interesting investments. they are comfortable with us being patient. that is an important part of pursuing a strategy. there are points in time, like present, where you have to rely on a level of patience to wait for the next great opportunity. ♪ erik: is it getting harder to find companies that need the kind of work that you do? is there last low hanging fruit that it used to be? >> we are always searching for companies. >> that is your job. >> that is our job. but for all of the companies we are looking for, even though we have grown, our portfolio is roughly the same size. we are looking for the same or similar numbers of new companies, new lead positions each year. that number is three to seven new lead investments. it is not a huge number. i would say on the one hand, it might be harder to find them. on the other, for us, i do not think that is true. not only are we looking for those ideas, other shareholders are looking for those ideas for us. and they are calling us. they will call us with ideas they think are undervalued. our funnel sometimes gets bigger because as we have grown a following of people who appreciate what we are doing because we have been looking out for the best interest of the shareholders and improving companies, people will call us can ask to get involved in situations. ♪ ♪ matt: you are watching "bloomberg best." i'm matt miller. let's get back to the week in earnings. some big beats and strenuous spin, starting with t-mobile's always-colorful jon legere. >> shares of t-mobile u.s. are rising today. the company beat profit estimates and managed to get new customers without punishing the bottom line, raising 18%. subscriber additions were 851,000 compared with 818,000. this quarter was fantastic for us. 2 million additional net customers. that is 14 quarters in a row over one million at an average of 1.9. we always talk about post-paid, we had 851 million postpaid phones. 684,000 prepaid phones for of $38.01 and we had revenue growth and surface revenue growth at 13% and adjusted even doubt growth of 38%. ever since at&t bought directv, they have not gained a single postpaid customer. they have been the biggest contributor to our success. i can only say in the short-term come of this distraction with them try to take over the entertainment industry is going to be a boom for the short-term future of t-mobile's growth. ♪ >> we have breaking news, revenue coming in at 5.9 billion euros. shares at philips have up raised 11% this year. erik: looking at third quarter sales, 5.9 billion. where are we in terms of the cost, taking them out of the business and giving guidance on those lines? >> over the last few years we have transformed philips and separated lighting away from the health technology activities. since may, we are focused on driving health care solutions into the market, helping customers to get better patient outcomes at lower cost. by being a focused company we are able to further streamline our own internal operations. with a growing top line, we have 5% revenue growth in the quarter, and margin expansion we were able to generate a lot of net income and cash flow. >> a big day for auto earnings. fiat, chrysler and gm earnings beat estimates. we keep saying, things will top out and things will roll over, then the numbers come. what is the story? >> gm had a record quarter. it was driven by business in north america, where we expect sales to plateau. ford has been saying that. gm has really boosted earnings by focusing on retail sales to individual customers and dialed down low profit sales to rental feeds. >> fiat chrysler, i thought that fiat was saving chrysler, but it seems jeep is saving fiat. >> there is really a role reversal. because again chrysler gets most , of its earnings from north america, mostly from jeep. which had an excellent quarter. forsergio is saying that the year fiat chrysler will make $6.3 billion. he is increasing estimates for how the year will turn out based on the strength of mostly jeep. ♪ >> baker hughes reporting a loss 429 million dollars in the third quarter. despite this they see activity moderately increasing in a tough-priced and environment. things bottling out with opec. are we getting too excited in the short-term? >> it is tough to say overall. i think right now what we are seeing bottom in some parts of the world all service companies seem to be talking about it. for sure in north america we see a bottom, how fast they come off the bottom is another question. but at least baker hughes is saying to look for an activity increase for the rest of the year. ♪ >> a conversation about eli lilly, shares down almost 1% after the company met estimates. from its blockbuster insulin drug and diabetes drugs. are you disappointed with the result even if the market is on the margin? >> we are absolutely not disappointed. $.88 per share. non-gap. we have kept our eps guidance for the year at 350 to 360. we marginally increased revenue guides for the year. you know, we stopped guiding for the quarter many years ago. we certainly do not manage our business to meet a consensus estimate. clearly, we are pleased with our performance. it includes 7% volume growth and most of that is attributable to our new product launches. opec's ase to reduce a percent of sales and our pipeline keeps growing. >> powered by prescription drug unit which is expected to do well. there was a big issue surrounding the company remains its purchase of monsanto. investors remain skeptical. the monsanto share price is currently pricing and quite a lot of regulatory risk for top are you surprised by that and when are you going to start talking to regulators? tell me, where are we right now in the process? >> we are in in the area discussion prior to us signing the transaction we also had in-depth discussions with monsanto affecting the overall regulatory and product overlap risk. we think this is a very manageable risk. particularly looking at the high complementarity of the businesses. we are confident that we can resolve any issue that may come up in product overlaps. ♪ >> coca-cola shares climbing after reporting earnings that beat analyst estimates. the world's largest soft drink third-quarter was reportedly helped by sales of smaller, more profitable package sizes. i took a look at your earnings release and it emphasizes organic growth and profit margins. are those the things that strike you the most? >> absolutely. while we -- the important thing is while we are undergoing change, the company is continuing to grow across the -- is growing in sparkling and other categories and across the world. so, it was a good and solid quarter. ♪ >> twitter very much a stock in focus as earnings beat estimates. they say they plan to cut 9% of the workforce to meet any profitability goal. are they cleaning up to sell or making a company to actually run it themselves? >> i think the latter. i think they would entertain an offer above the ipo price, but i do not think they are doing anything at the direction of a proposed potential acquirer. i think they clearly intended to be profitable on the gap basis and i think they would like to exit 2017 -- a year from now -- a profitable state and i think they are taking the steps they should have probably taken three or four quarters ago. ♪ alphabet shares are higher in extended training after -- posting third-quarter sales and -- what do you think of the biggest highlights when it comes to the core google business? and healthy at business is actually doing? -- and how the ad business is actually doing? >> there is the expectation that google was facing a tough cop and growth would not have been what they expected. their growth in the core google website, -- they were expecting 300-400 basis points. they beat estimates on eps and they announced a share buyback of roughly 7 billion. overall it was a solid quarter and it is a stock you want to continue to own. ♪ >> dimon shares sank as much as 5% after missed estimates are increased spending and how they could not make a dime in holiday sales. we are back to what we always remember with amazon, the fact that sometimes they do not deliver a profit. are investors going to start swallowing profit again? >> i think you will have some investors worried about profit again. especially as we go into the fourth quarter. the holiday season is a big time for amazon, and here you have them saying we may make no money at all in the fourth quarter. they give quite a big range between zero and $1.25 billion. but analysts are looking for more than that. and they certainly will not be happy if it ends up being closer to zero, which they are saying it might be. they also were very surprised by the slowdown in profits in the current quarter. so, this is not a good picture for amazon. ♪ ♪ >> this is a scattergram, something i found useless in the world of statistics, but i found value in bloomberg's terminal. this is showing us momentum. we are used to seeing biggest movers of it year or the day up or down. this shows us left to right, on the left side, stocks down for the day. on the right side, stock up on the day. each one of these bubbles, the size of the bubble represents market cap. represents the five-dave move. matt: there are about 30,000 functions on the bloomberg. we always enjoyed showing you our favorites. maybe they will become your favorites. here's another function you will find useful. quic quick go. it will take you to our takes are you can get insight into timely topics. here's a quick take from this week. ♪ >> turkey's president is using a failed military coup to keep power. more than 250 people died in a night of street battles and aerial bombardment. for turks, revolt is nothing new. the country experienced coups in 1960, 1971, 1980, and 1997 when the prime minister stepped down under pressure from the military. erdogan has been encouraged by the uprising. more than 80,000 soldiers, judges, academics, and other officials. the latest highlights is a division tearing the country apart. here is the situation. turkey's political identity echoes its geography, straddling the middle east in europe. it is a nation where east meets west. of modern turkey, a military officer, led the nation state inst-ottoman 1923. since then, the turkish armed forces have played a central role in maintaining the secular western-looking society. the ak party was first elected in 2002, with erdogan now becoming prime minister the following year. as turkey's most powerful ruler since, he is molding turkey back into an islamic world power by giving voice to an underclass of islamic conservatives. many turks love him. the size of the economy nearly tripled in a decade, but over the last few years, he stifled political debate, fighting accusations of corruption. in 2014, he began purging the police and judiciary, detaining journalists, and trying to control the incident. tightening control of the internet. he says those responsible for self-imposed exile of an islamic cleric in the u.s. erdogan is not being shower -- shy about his ambitions, 150-room presidential palace, a complex 30 times larger than the white house. here is the argument. while erdogan has been denounced for being autocratic, he is still admired. his party's role has been the longest tear of stability since world war ii. poor turks have seen living standards rise under his control. over the years, the turkish people have been divided on what they think about the man in charge. turkey has been a member of nato since 1952, but has not been able to join the e.u., which is critical on the country's track record of civil liberties and lack of democratic reform. erdogan does not look like he plans to leave power anytime soon. ♪ matt: that was just one of the many quick takes you can find on the bloomberg. you can also find them on bloomberg.com, along with all the latest business news and analysis 24 hours a day. that will be all for "bloomberg best" this week. thanks for watching. i am matt miller. this is bloomberg. ♪ ♪ announcer: from our studios in new york city, this is "charlie rose." charlie: jeff bezos started amazon out of his garage as an online bookseller. today, it is among the world's most valuable companies and he is one of the world's richest people. gates.only to bill amazon's ambition is to sell everything to everyone. amazon web services is the leading company in the cloud. in january, amazon became the first digital streaming service to win a golden globe for best tv series. jeff bezos has many passions

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