Transcripts For BLOOMBERG Bloomberg Bottom Line 20140923 : c

Headlines today. A discussion of usled airstrikes in syria. Developments at the white house. We begin with yang yang and word that ebola cases could reach 1. 5 million by midjanuary. That covers just two countries. That is right. Sierra, just post he does estimates that without better containment of the Ebola Outbreak, there could be as many in the twoion cases west african countries by january. The third country hit hard by the virus was not included because the number of cases there has fluctuated too much to make modeling valid. The model estimates 550,000 cases on the lower end. The reason why the range is so large is because Officials Say they believe the cases to be significantly underreported by a factor of 2. 5. The latest tally from the World Health Organization shows 2800 asths and 5800 total cases of monday. To give you an idea of scale, 1. 4 million would be 240 times the current case number. Also today, the World Health Organization released a separate that predicted there could be 21,000 cases of the virus by november if they are not significant increased. Researchers warned the possibility that ebola might become endemic to the west african population. Starke news all around. The Silver Lining around all of accountnot take into release efforts. The u. S. Has committed 1 billion in aid. 1. 4 million cases, the worstcase scenario. What is the best case . Theest case is, assuming dead are buried safely and 70 of patients are treated in risk of that reduce the contamination, the report says the ebola epidemic in liberia would almost be ended by january 20. To give you a sense of just how big the gap is now, to the 70 safe treatment number, liberia right now is seeing 18 , 40 , so still quite a ways to go. Back to you. Thank you. Lets get you more on the developing crisis. Isaac, andnow is ken he oversees all projects for a north carolinabased nonprofit relief organization. Here in studio, shannon, our health reporter. Thank you both. Lets start with you, shannon. How did the cdc arrive at these numbers . It is a doubling of cases every 20 days. We have about 20,000 now, which includes cases that have not been actually reported. 20,000, 40,000, 80,000, 160,000, and so on, every 20 days. It is a snowball effect. The more who get infected, the more people they pass it onto. It is quite a contagious disease. That is how you get 2. 15 million. At this point, it is it is spreading without any containment at all. Very little, at least. Used thegue and phrase, might become endemic to the west african population. Is that your concern . Yes. I believe it will become anthemic. Africa willething see in the future. How the disease mutates, how it in the population, remains to be seen. Spiraling, this is out of control right now. How did we get to this point . A slow response to this. We were really one of the few organizations on the ground early on, for months and months, where the Big International aid organizations were not there until very recently, until just a in the past few weeks, the who and the Obama Administration have now got resources. They have very Little Health infrastructure, very little resources for aid workers, and let me just give you an example. In a big city where someone is infected, they get in a taxi cab and they start driving around with their family to look for Treatment Centers and meanwhile, they may be bleeding if they are very sick. Anybody who gets in that taxi again with a little tiny cut on their hand can now become infected. That is how this gets spread so widely. It was just pointed out your organization was there early on. Why do you believe the International Community was so slow to respond . A great question. It had to do with the remoteness of it, the history of the disease was it was always burn itself out and it never became an issue to the world. What we saw back in april in may m a was serious underreporting going on april and may was serious underreporting going on. We were seeing whole families die. It was not corresponding with the numbers coming out from who and we felt like the disease were was underreported and was growing faster and we began in late april and early may calling for more International Attention to it. That really did not happen until can brantley fell sick with the disease, an American Network for us. He fell sick on july 26. Gotink that an American People and it comes to the new dash to the u. S. , people perked up. That aligns with a time where the disease really starts exploding. Calm sets of, normal containment through investigation, i believe that is all a bit past the date. This will get so widespread, 100,000, two hundred thousand, a million, how do you treated population where one Million People have ebola . Manyo you build that hospital beds . You do not. It will not happen. Lets say for example that million, and i pray that number does not happen. I had seen those reports and i have seen them for two or three weeks. I am just looking at the number of 100,000 from the first week of december. That is the center of gravity that im signed a time finding these reports. Is 100,000, where will 100,000 beds come from . With the entire International Response going on right now, the great work of staff, the fact that the military is on the ground, a lot of other organizations are coming in, the truth is that nothing has put a dent in the growth of the disease. Written reports are stating that for each person who gets infected, 1. 525 2. 5 people are given the disease. Is fromve that number 35 people. That is why you are seeing underreporting. The reports that started coming out yesterday saying maybe only 20 of the disease is recognized is more inline line with our own internal epidemiological assessments of 35 people that benefit get infected. To see those numbers shrink is to get the transmission rate less than one. It has got to be or it continues to grow. Let me get one thing in. People will be in their homes and they will be treated in the homes. They will have to be. A real not be a choice. We have less than a minute left. There is an economic component to ebola. The outbreak will cost just 285. A how devastating will this be to the countries being directly affected . It will be horrible. We have a Market Analysis on the cost of food last week area 150200 , food has gone up here the economy has closed down and people are losing their jobs. Countries are afraid to send their aircraft and boats there. This will have a longterm and significant impact, not only in liberia. I would just advise that none of us should think this is only going to be in liberia. We have to come as an International Community, recognize that the same fear and panic spread in those diseased countries could go to other countries as well. That is why i believe it is so important we fight the disease there now as we can. Vice president of program and Government Relations joining us from north carolina. In my colleague. Thank you both so much. I appreciate it. More on the ebola crisis is coming up at the top of the hour. Trish regan will be joined at 4 00 p. M. New york time. Stay with bloomberg for the latest developers developers. Were standing by with president obama to speak the Nigerian Health at mr. The latest from the white house and a roundtable discussion on what is at stake when we continue in a moment. Welcome back. We have breaking news. The president of the United States is speaking this hour. We are monitoring the president s remarks. A lot on his plate on this tuesday, not to mention the airstrikes in syria, the Ebola Outbreak in west africa. We continue to follow that and bring you any details as soon as we get them. We are learning more details about syria overnight. An al qaedancluded offshoot that group Officials Say were plotting to target the United States. Bloombergs chief washington correspondent peter cook is at the white house with the latest developments. As the ministration think the airstrikes were successful . Bomb damage assessments are still going on. According to u. S. Officials, the claim is we hit what we were aiming at and they think we were successful in taking out Islamic State militants and the threats posed by iso isil. They were targeting a second a separateria, extremist group, a separate terrorist group, remnants of al qaeda that u. S. Officials believe were pop plotting an attack on western interests, perhaps in the United States. We have been hearing about this. Three waves of attacks. Overnight airstrikes. The first wave were these missiles aimed at the western syria, specifically at this group and a short time ago, we heard from the pentagon, speaking about the threat those by the group. We have been watching this group closely for some time. We believe the group was nearing attacksution phase of in europe and the homeland. We know the group has attempted to recruit westerners to serve as operatives or to infiltrate hacking to their homelands. Back into their homelands. There were plans to take military action separate and apart from the Islamic State and the decision was made to put this into all one single night. The message were getting is that these strikes may continue, maybe not in the size and scope of what we saw the last way for hours, but this will be a continuing campaign. Targeting not just the Islamic State but also the group going forward. Stay with us. For more on the air strikes against militants in syria, im joined by bloombergs Foreign Policy reporter thank you both so much. Get thepresident coalition he wanted . I think he did. He had five sunni monarchies behind him. It is not just the u. S. Participating in this, nor is it the u. S. Plus britain or france. Plus fivee u. S. Significant arab countries. It would have been nice to get sunni and shiite countries together but that is hard. He does major shiite countries are aside in syria, who we did this without his permission, and iran, which we do not want to partner with. I found it interesting this morning that irans leadership said they could not endorse the strike because of the territory of their big ally. On the other hand, they asdemned iso isil monsters. Led by a very experienced man described by the u. S. Military as an icon to al qaeda expert. He has been involved since 2001. He worked primarily in iran facilitating travels for al qaeda from afghanistan to the west. What is trying to do in the Northwest Region of syria is trying to recruit jihadist who have these very valuable parts and facilitate them to travel elsewhere. Do we know anything about what the president was calling an imminent terror attack . We do not have too many details at this point. Theyre being careful about what they say. U. S. Intelligence officials and the pentagon, and that they say that this network was plotting some action they believe was in its final phases, if you will. Again, were waiting to get more details. This is significant. It is a group most americans had never heard of before and still today, certainly groups the president himself had not mentioned. It is part of this very important series of airstrikes being carried out. The question is being asked on capitol hill whether or not the action was in fact authorized by the legal justification the president has divided for going after the Islamic State in the first place. We talk about the arab nations. How much of a risk is being fight againstthe isil . They really are exposing themselves and it is interesting area at least one of the nations that put itself as part of the coalition on airstrikes yesterday was qatar. Qatar has been supporting quite a few extremists who were antiassad. They were not supporting isil specifically but they have supported their bedfellows, other al qaeda groups. Being so forward leaning about attacking these extremist opens them and their people up to being taken hostage, to any kind of revenge attacks. That is why we understand turkey has held back so far. They had those hostages, 49 turks, and now they have been let go. Earlier today at the Turkish Foreign ministers joint Counterterrorism Panel forum of all u. S. Countries, they basically said that now, turkey will be more forward leaning than they were before. Peaking of turkey, it is a u. S. And allied and member of nato. Also host of the u. S. Air force base. To turkey has so far refused allow the base to be used for combat missions why . A good question. A lot has to do with the fact the Islamic State is Holding Members and also a lot of turkish citizen front drivers in that region of the iraq and syrian order. That may now change. We will see. Peter cook, the cia director, john brennan, was at a forum last week and hes dead some of the smaller and less known terror groups also pose a threat. Who are these other groups and where are they . There are a number of groups that are offshoots of al qaeda. There are several groups in syria. That is one of the problems. There are so many splinter groups and so many different groups taking on a side, for example, that consider themselves to be rebels fighting in syria, it is hard to keep track of everyone and certainly hard for the United States to see who is friend and who is vote. It is clear the u. S. Is taking close tabs on some of these groups. They see them as a greater threat to strike the homeland. The News Agency Reports the government in damascus supports any international antiterrorism. Is it possible these airstrikes are having an unintended effect and that they are against the opposition that has been trying to try to remove president bush are assad president assad . Isil, were talking about, that was a very interesting and can he statement. They want to show, were are happy the u. S. Is taking out our enemies. On the other hand, assad is not our friend and we have made it there he or we are not making an unholy alliance of him and we really do not want him to move and take advantage of that. His forces are tired. The United States is opening with the free syrian army, they will be able to capitalize on the gains of knocking isil out here they are not a real fighting force yet at this time. We will see who will move in on those losses. All right. Peter cook joining me from the white house. Thank you all so much. Tonight on charlie rose on bloomberg, the president of turkey for the hour. You could watch the interview in full on Charlie Rose Bloomberg tv. Up next, and on the markets update from our senior markets correspondent, julie hyman. Plus, my exclusive interview with the president of road. That and more when we continue in a moment. We are coming up on 26 minutes past the hour. Bloomberg television is on the markets. Julie hyman, good afternoon. Hello. Lets take a look at where stocks are trading right now. Declines are across the board. Concerns about strikes in the middle east as well as concern about potential crackdown on tax inversion deals have been pushing stocks lower. News, discussing an acquisition the core and the people with knowledge. Even as the treasury secretary is cracking down on that strategy to lower taxes. Numerals on corporate inversions will make it difficult for companies to escape u. S. Taxation according to the treasury secretary jack lew. We are looking for the drugmaker in revised talks about a potential buyout according to people with knowledge on that deal. They talk for a few weeks after a higher price was demanded. Now, it seems there back on. One of markets in 30 minutes. More bottom line is next. Welcome back to the second halfhour of bottom line on bloomberg television. Thank you for joining us. President obama just World Leaders at the united made a lot United Nations summit on Climate Change. Our senior markets correspondent julie hyman is back with me. What does the global agreement entail . This is something Global Leaders have been working on for some time. Meetings in caucus today have the eventual aim of coming to an agreement next year in a summit him parrot in paris. The goal is to limit the increase in Global Temperatures to less than two degree celsius instead of three degree levels. We would need to see a dramatic reduction in levels of emissions. To achieve that, we need Different Countries to come to an agreement. Where thek at omissions are coming from by country, the u. S. Counts for about 14 of global emissions. hina accounts for the largest largest, 26 . The problem is, you have a fight about legacy. Toyou go all the way back during the industrial age, the u. S. Has really accounted for the bulk of the omissions we have seen. Seenighting we have traditionally during the meetings is that developing nations want access to inexpensive types of fuel, and which case many of them have high emissions levels. They want developed nations, the ones that are the legacy creators of these omissions to pay for the bulk of or at least what they consider to be their fair share of Climate Change initiatives. There has been a lot of fighting around all this. That is why we have not seen any agreement thus far. Julie, we already appear to be seeing the effects of Climate Change. How is that manifesting itself in the Ebola Outbreak<\/a>, there could be as many in the twoion cases west african countries by january. The third country hit hard by the virus was not included because the number of cases there has fluctuated too much to make modeling valid. The model estimates 550,000 cases on the lower end. The reason why the range is so large is because Officials Say<\/a> they believe the cases to be significantly underreported by a factor of 2. 5. The latest tally from the World Health Organization<\/a> shows 2800 asths and 5800 total cases of monday. To give you an idea of scale, 1. 4 million would be 240 times the current case number. Also today, the World Health Organization<\/a> released a separate that predicted there could be 21,000 cases of the virus by november if they are not significant increased. Researchers warned the possibility that ebola might become endemic to the west african population. Starke news all around. The Silver Lining<\/a> around all of accountnot take into release efforts. The u. S. Has committed 1 billion in aid. 1. 4 million cases, the worstcase scenario. What is the best case . Theest case is, assuming dead are buried safely and 70 of patients are treated in risk of that reduce the contamination, the report says the ebola epidemic in liberia would almost be ended by january 20. To give you a sense of just how big the gap is now, to the 70 safe treatment number, liberia right now is seeing 18 , 40 , so still quite a ways to go. Back to you. Thank you. Lets get you more on the developing crisis. Isaac, andnow is ken he oversees all projects for a north carolinabased nonprofit relief organization. Here in studio, shannon, our health reporter. Thank you both. Lets start with you, shannon. How did the cdc arrive at these numbers . It is a doubling of cases every 20 days. We have about 20,000 now, which includes cases that have not been actually reported. 20,000, 40,000, 80,000, 160,000, and so on, every 20 days. It is a snowball effect. The more who get infected, the more people they pass it onto. It is quite a contagious disease. That is how you get 2. 15 million. At this point, it is it is spreading without any containment at all. Very little, at least. Used thegue and phrase, might become endemic to the west african population. Is that your concern . Yes. I believe it will become anthemic. Africa willething see in the future. How the disease mutates, how it in the population, remains to be seen. Spiraling, this is out of control right now. How did we get to this point . A slow response to this. We were really one of the few organizations on the ground early on, for months and months, where the Big International<\/a> aid organizations were not there until very recently, until just a in the past few weeks, the who and the Obama Administration<\/a> have now got resources. They have very Little Health<\/a> infrastructure, very little resources for aid workers, and let me just give you an example. In a big city where someone is infected, they get in a taxi cab and they start driving around with their family to look for Treatment Centers<\/a> and meanwhile, they may be bleeding if they are very sick. Anybody who gets in that taxi again with a little tiny cut on their hand can now become infected. That is how this gets spread so widely. It was just pointed out your organization was there early on. Why do you believe the International Community<\/a> was so slow to respond . A great question. It had to do with the remoteness of it, the history of the disease was it was always burn itself out and it never became an issue to the world. What we saw back in april in may m a was serious underreporting going on april and may was serious underreporting going on. We were seeing whole families die. It was not corresponding with the numbers coming out from who and we felt like the disease were was underreported and was growing faster and we began in late april and early may calling for more International Attention<\/a> to it. That really did not happen until can brantley fell sick with the disease, an American Network<\/a> for us. He fell sick on july 26. Gotink that an American People<\/a> and it comes to the new dash to the u. S. , people perked up. That aligns with a time where the disease really starts exploding. Calm sets of, normal containment through investigation, i believe that is all a bit past the date. This will get so widespread, 100,000, two hundred thousand, a million, how do you treated population where one Million People<\/a> have ebola . Manyo you build that hospital beds . You do not. It will not happen. Lets say for example that million, and i pray that number does not happen. I had seen those reports and i have seen them for two or three weeks. I am just looking at the number of 100,000 from the first week of december. That is the center of gravity that im signed a time finding these reports. Is 100,000, where will 100,000 beds come from . With the entire International Response<\/a> going on right now, the great work of staff, the fact that the military is on the ground, a lot of other organizations are coming in, the truth is that nothing has put a dent in the growth of the disease. Written reports are stating that for each person who gets infected, 1. 525 2. 5 people are given the disease. Is fromve that number 35 people. That is why you are seeing underreporting. The reports that started coming out yesterday saying maybe only 20 of the disease is recognized is more inline line with our own internal epidemiological assessments of 35 people that benefit get infected. To see those numbers shrink is to get the transmission rate less than one. It has got to be or it continues to grow. Let me get one thing in. People will be in their homes and they will be treated in the homes. They will have to be. A real not be a choice. We have less than a minute left. There is an economic component to ebola. The outbreak will cost just 285. A how devastating will this be to the countries being directly affected . It will be horrible. We have a Market Analysis<\/a> on the cost of food last week area 150200 , food has gone up here the economy has closed down and people are losing their jobs. Countries are afraid to send their aircraft and boats there. This will have a longterm and significant impact, not only in liberia. I would just advise that none of us should think this is only going to be in liberia. We have to come as an International Community<\/a>, recognize that the same fear and panic spread in those diseased countries could go to other countries as well. That is why i believe it is so important we fight the disease there now as we can. Vice president of program and Government Relations<\/a> joining us from north carolina. In my colleague. Thank you both so much. I appreciate it. More on the ebola crisis is coming up at the top of the hour. Trish regan will be joined at 4 00 p. M. New york time. Stay with bloomberg for the latest developers developers. Were standing by with president obama to speak the Nigerian Health<\/a> at mr. The latest from the white house and a roundtable discussion on what is at stake when we continue in a moment. Welcome back. We have breaking news. The president of the United States<\/a> is speaking this hour. We are monitoring the president s remarks. A lot on his plate on this tuesday, not to mention the airstrikes in syria, the Ebola Outbreak<\/a> in west africa. We continue to follow that and bring you any details as soon as we get them. We are learning more details about syria overnight. An al qaedancluded offshoot that group Officials Say<\/a> were plotting to target the United States<\/a>. Bloombergs chief washington correspondent peter cook is at the white house with the latest developments. As the ministration think the airstrikes were successful . Bomb damage assessments are still going on. According to u. S. Officials, the claim is we hit what we were aiming at and they think we were successful in taking out Islamic State<\/a> militants and the threats posed by iso isil. They were targeting a second a separateria, extremist group, a separate terrorist group, remnants of al qaeda that u. S. Officials believe were pop plotting an attack on western interests, perhaps in the United States<\/a>. We have been hearing about this. Three waves of attacks. Overnight airstrikes. The first wave were these missiles aimed at the western syria, specifically at this group and a short time ago, we heard from the pentagon, speaking about the threat those by the group. We have been watching this group closely for some time. We believe the group was nearing attacksution phase of in europe and the homeland. We know the group has attempted to recruit westerners to serve as operatives or to infiltrate hacking to their homelands. Back into their homelands. There were plans to take military action separate and apart from the Islamic State<\/a> and the decision was made to put this into all one single night. The message were getting is that these strikes may continue, maybe not in the size and scope of what we saw the last way for hours, but this will be a continuing campaign. Targeting not just the Islamic State<\/a> but also the group going forward. Stay with us. For more on the air strikes against militants in syria, im joined by bloombergs Foreign Policy<\/a> reporter thank you both so much. Get thepresident coalition he wanted . I think he did. He had five sunni monarchies behind him. It is not just the u. S. Participating in this, nor is it the u. S. Plus britain or france. Plus fivee u. S. Significant arab countries. It would have been nice to get sunni and shiite countries together but that is hard. He does major shiite countries are aside in syria, who we did this without his permission, and iran, which we do not want to partner with. I found it interesting this morning that irans leadership said they could not endorse the strike because of the territory of their big ally. On the other hand, they asdemned iso isil monsters. Led by a very experienced man described by the u. S. Military as an icon to al qaeda expert. He has been involved since 2001. He worked primarily in iran facilitating travels for al qaeda from afghanistan to the west. What is trying to do in the Northwest Region<\/a> of syria is trying to recruit jihadist who have these very valuable parts and facilitate them to travel elsewhere. Do we know anything about what the president was calling an imminent terror attack . We do not have too many details at this point. Theyre being careful about what they say. U. S. Intelligence officials and the pentagon, and that they say that this network was plotting some action they believe was in its final phases, if you will. Again, were waiting to get more details. This is significant. It is a group most americans had never heard of before and still today, certainly groups the president himself had not mentioned. It is part of this very important series of airstrikes being carried out. The question is being asked on capitol hill whether or not the action was in fact authorized by the legal justification the president has divided for going after the Islamic State<\/a> in the first place. We talk about the arab nations. How much of a risk is being fight againstthe isil . They really are exposing themselves and it is interesting area at least one of the nations that put itself as part of the coalition on airstrikes yesterday was qatar. Qatar has been supporting quite a few extremists who were antiassad. They were not supporting isil specifically but they have supported their bedfellows, other al qaeda groups. Being so forward leaning about attacking these extremist opens them and their people up to being taken hostage, to any kind of revenge attacks. That is why we understand turkey has held back so far. They had those hostages, 49 turks, and now they have been let go. Earlier today at the Turkish Foreign<\/a> ministers joint Counterterrorism Panel<\/a> forum of all u. S. Countries, they basically said that now, turkey will be more forward leaning than they were before. Peaking of turkey, it is a u. S. And allied and member of nato. Also host of the u. S. Air force base. To turkey has so far refused allow the base to be used for combat missions why . A good question. A lot has to do with the fact the Islamic State<\/a> is Holding Members<\/a> and also a lot of turkish citizen front drivers in that region of the iraq and syrian order. That may now change. We will see. Peter cook, the cia director, john brennan, was at a forum last week and hes dead some of the smaller and less known terror groups also pose a threat. Who are these other groups and where are they . There are a number of groups that are offshoots of al qaeda. There are several groups in syria. That is one of the problems. There are so many splinter groups and so many different groups taking on a side, for example, that consider themselves to be rebels fighting in syria, it is hard to keep track of everyone and certainly hard for the United States<\/a> to see who is friend and who is vote. It is clear the u. S. Is taking close tabs on some of these groups. They see them as a greater threat to strike the homeland. The News Agency Reports<\/a> the government in damascus supports any international antiterrorism. Is it possible these airstrikes are having an unintended effect and that they are against the opposition that has been trying to try to remove president bush are assad president assad . Isil, were talking about, that was a very interesting and can he statement. They want to show, were are happy the u. S. Is taking out our enemies. On the other hand, assad is not our friend and we have made it there he or we are not making an unholy alliance of him and we really do not want him to move and take advantage of that. His forces are tired. The United States<\/a> is opening with the free syrian army, they will be able to capitalize on the gains of knocking isil out here they are not a real fighting force yet at this time. We will see who will move in on those losses. All right. Peter cook joining me from the white house. Thank you all so much. Tonight on charlie rose on bloomberg, the president of turkey for the hour. You could watch the interview in full on Charlie Rose Bloomberg<\/a> tv. Up next, and on the markets update from our senior markets correspondent, julie hyman. Plus, my exclusive interview with the president of road. That and more when we continue in a moment. We are coming up on 26 minutes past the hour. Bloomberg television is on the markets. Julie hyman, good afternoon. Hello. Lets take a look at where stocks are trading right now. Declines are across the board. Concerns about strikes in the middle east as well as concern about potential crackdown on tax inversion deals have been pushing stocks lower. News, discussing an acquisition the core and the people with knowledge. Even as the treasury secretary is cracking down on that strategy to lower taxes. Numerals on corporate inversions will make it difficult for companies to escape u. S. Taxation according to the treasury secretary jack lew. We are looking for the drugmaker in revised talks about a potential buyout according to people with knowledge on that deal. They talk for a few weeks after a higher price was demanded. Now, it seems there back on. One of markets in 30 minutes. More bottom line is next. Welcome back to the second halfhour of bottom line on bloomberg television. Thank you for joining us. President obama just World Leaders<\/a> at the united made a lot United Nations<\/a> summit on Climate Change<\/a>. Our senior markets correspondent julie hyman is back with me. What does the global agreement entail . This is something Global Leaders<\/a> have been working on for some time. Meetings in caucus today have the eventual aim of coming to an agreement next year in a summit him parrot in paris. The goal is to limit the increase in Global Temperatures<\/a> to less than two degree celsius instead of three degree levels. We would need to see a dramatic reduction in levels of emissions. To achieve that, we need Different Countries<\/a> to come to an agreement. Where thek at omissions are coming from by country, the u. S. Counts for about 14 of global emissions. hina accounts for the largest largest, 26 . The problem is, you have a fight about legacy. Toyou go all the way back during the industrial age, the u. S. Has really accounted for the bulk of the omissions we have seen. Seenighting we have traditionally during the meetings is that developing nations want access to inexpensive types of fuel, and which case many of them have high emissions levels. They want developed nations, the ones that are the legacy creators of these omissions to pay for the bulk of or at least what they consider to be their fair share of Climate Change<\/a> initiatives. There has been a lot of fighting around all this. That is why we have not seen any agreement thus far. Julie, we already appear to be seeing the effects of Climate Change<\/a>. How is that manifesting itself in the United States<\/a> question mark we have these anecdotal things we have been linking to Climate Change<\/a>. We have the drought in california, increased hurricanes , storm surges in the northeast, even with hurricane sandy. If you look at an epa map of how it is laid out around the country, youre looking at things like droughts in the southwest again, which we are ,lready seeing, water supply various health risks in the u. S. And elsewhere, an increase in the types of insects that carry diseases, as well as heat related diseases. Surgesne flooding storm along the east coast. Julie, thank you. The National Football<\/a> league continues to boost its female hiring. Just tired dawn hudson as the lead chief marketing officer. The fifth female executive in the nfl being hired in a week in the wake of its handling in a Domestic Violence<\/a> case. How is the latest move, it being received . Look. I think everyone is taking it with a grain of salt here it is nice there out there on hiring spree of women. This isnow why happening. Lets not kid ourselves. Don hudson is the former pepsi. Ve from she has a relationship with them since 2002. In a pressted release about the nfl sponsorship they had undertaken. She has had a relationship with the nfl for some time. She was at pepsi. Do not forget, it is a very big deal the nfl keep its sponsors happy right now. A letter to the nfl was sent that was pretty striking in its tone. They did not hold their sponsorship but they basically said, we do not like the way you are doing business when it comes to the Domestic Violence<\/a> front. A big deal. You would think they would not want to have anything really to do with this kind of perception. They might be worried. At least now they have somebody who has been inside at pepsi. That is helpful for them. Theyre on a hiring spree of women if they try to do damage control. You wonder what was going through good dells had in all of this throughout . I am going all the way back to the two gains when the initial tape first surfaced. Why was he not willing to do more . How is it someone would get four games for drug issue only two for a Domestic Violence<\/a> issue. He must not have any women advising him, or this is just business as usual. Perhaps by bringing all these women and, he might now have a little more diversity in the prevent debacles like this going forward. With jim. Lk we talked a lot about ebola. He was a former physician. Not practicing now. He has a lot of thoughts on able and what can and needs to be done to eradicate it from the world. He thinks there is light at the end of the tunnel for this. A report out today saying as many as 1. 4 million cases are expected by january. All right. Thank you so much. Up next, perus president discusses his strategy to narrow wealth inequality in his country. My exclusive interview is next. It is time for today positive latin america report. The president of colombia, mesko, and peru say integration of their economies is essential to boost growth. Latinonomist makeup Americas Alliance<\/a> bloc. Yesterday, spoke with the peruvian president and began by asking him about measures to keep his econ his countrys economy growing. The economy is forecast to go below 5 for the first time in ive years. Us wenomic indexes show are past the toughest times now. Now we are having our economy recover in the direction of something greater than 5 . This is something gradual. Are a series of problems on the International Scene<\/a> that also affect us. Mr. President , how have you been able to deliver budget surpluses, and is that a main reason for trust and the creditworthiness that peru now enjoys . We have worked in political environments and we have dealt also been and we have issuing reactivating bonds, which has had positive impacts for investors. Decides that, the peruvian is consolidating on very promising investments, where we are seeing almost a 30 investment rate. An example is the gas lines. Thousands of kilometers, which will allow for new constructions in the south and the pacific the subway line, line one, which we already completed, and jews over 5. 5 billion, and also investors who are investing over is theion in mining, it greatest investment in that sector on a world gale. Mr. President , you spoke monday at the Bloomberg Latin<\/a> america on it and talked about the integration of the pacific colombia, andru, mexico. You believe it will increase intramatch intertrade. How so and does that also mean an increase in the standard of living for citizens in your countries . I am very optimistic. Ive seen the numbers exceeding investment rates over 3. 5 billion right now. Moreover, we have a Business Economic<\/a> council allowing us not only the movement of funds , but rather, it allows us an infrastructure of invest in that we are already eating the fruits of. Mr. President , you and your alliance colleague wrote a Bloomberg View<\/a> , wen and it reads in part firmly believe the main purpose of the Pacific Alliance<\/a> is to improve the welfare of all of our citizens are the promotion of growth and Economic Development<\/a> and the improvement of competitiveness of our economy. How then would you define success . I would define it in however can narrow wealth inequality. That is the great challenge in latin America Aaron<\/a> we must also a sort ofe outside in difficult climate we are seeing in countries like the european union, china, the united it. United states. And in a placeed like ours, with the potential for power, it allows us to look to south asia, southeast asia, pacific, where we are of opec andall part we have created, china, japan, at least peru does. The european union, the United States<\/a>, canada. It has to do with over 90 of gdp. Mr. President. You spoke about looking outside of the alliance. With that also include an alliance what are the chances of them joining with the Pacific Alliance<\/a> . Like last year, thanks to the political will among the four partners, we decided to bring together 42 percent of our exports and 8 will be realized in the next 1015 years. Tentative. Basically theave to recognize differences. The Pacific Alliance<\/a> is an alliance among companies with open economies. An economy with a freetrade agreement, participating in great commercial sectors. That we will be able to find common ground. The president of peru speaking yesterday to bloomberg news. That is your latin america report for this tuesday. Coming up, a democratic senator relet we asked and reacts in the senate. More now on dealing with Domestic Abuse<\/a> cases in part two of my conversation with the Michigan Democratic<\/a> senator. I began by asking her what the league still needs to do. The senator was among 16 female senators who signed a letter urging the nfl to institute a zero tolerance policy. Signed the letter because i think there has to be a zero tolerance policy around family and Domestic Violence<\/a>. I think they have been slow to come to this. We will see what happens here at some of this has not been impressive. It is not enough to just say, we stand with women and we know domestic is destined method filings is wrong and maybe we will wear a purple ribbon. What else needs to be done . Should more training be done for these young men when they come into the league at the very beginning . Actions always speak louder than words. It is not enough to wear a wet a ribbon or where something that is supportive. What are they doing in terms of education . This is a tough and violent support support violent sport. Were asking young men to be aggressive and that brings challenges with it. I think they have to take some responsibility for it in terms of education and awareness and zero tolerance. Senator, you were one of the leaders in the senate. I say that with respect. Not one of the female leaders, but but one of the leaders. So at cash at some point, you have to take gender out of this. A book was written and she talked about some of the treatment she received from her male colleagues. A lot of it was not flattering. You have been in the senate for a while. Can you relate . Woman in elected office or an executive position or moving up the ranks of business or Community Leadership<\/a> can happen tohat things us. Shouldnt we be passed that . It is 2014. For sure. There is certainly a lot less of it here and i can tell you about a lot more incidences happen to when i was Getting Started<\/a> as a 24yearold in local government, or being a state legislator today. Certainly, that still happens. Right now, the great thing is that we have nine committees chaired by women in the United States<\/a> senate. This will be less and less of an issue. Will she win the democratic nomination question nomination . Will she win . Absolutely. No doubt in your mind . Andhe will be mean aggressive in all these things, everything thrown at her. That is the unfortunate part of , particularly national politics. Nobody is more qualified, smarter, who knows more World Leaders<\/a>, who could walk in and do the right thing to grow the economy and create jobs and make sure our country works for everybody than hillary clinton. A reminder, were only a few makes a few weeks away from our broadcast, from all due respect. The new show will be launched on monday, october 6, at 5 00 p. M. New york time, only on bloomberg. Stay with us. Another check of Market Movers<\/a> is on the other side of the break. We return in just a moment. Get the latest headlines at the top of the hour on Bloomberg Radio<\/a> and streaming on your tablet and on bloomberg. Com. That does it for this edition on bloomberg television. I am Mark Crumpton<\/a> in new york. Thank you so much for joining us. I will see you tomorrow. Coming up on 56 minutes past the hour. Bloomberg television is on the markets. Lets look at where stocks stand. An hour before the closing bell. We continue to see declines across the board. Concerns about the Islamic State<\/a> in the mideast, as well as potential regulations, clamping down and putting pressure on stocks. We are looking at bed bath and beyond. Both of those stocks are falling after the retailers were downgraded through market performance. Increased competition from online retailers, we have got bed bath earnings coming out after close of trading as well. Ofwant to continue the talk retail right now. With me is mark freeman, the retail tracker, a consultant who looks at the retail industry. Want to start broadly and then narrow it down. When we look at the backtoschool shopping season, initial reports are in. They are not terribly encouraging. We have seen a monthly cost sale figure from some of the retailers. What is going on . Were still not seeing the pickup we keep waiting for. There is a continued challenge for the consumers dollars from other categories. The iphone 6 release still money away. If we do research on younger customers, theyre looking to spend on other things. It would be a surprise for a 15yearold at starbucks spending allowance there. There is a lot more competition today than there may have been five or 10 or 15 years ago, especially for that Team Consumer<\/a> for the backs backtoschool season. That is interesting. It is other stuff versus apparel. The does this all say about holidays and what we will see there . I imagine we will see a similar phenomenon. You will be going out to eat, for example, instead of buying this stuff. People will still get gifts. It will be more limited and you will have to take advantage of black friday, certain weekend trips up through the holiday season. That is where you will draw the bulk of your traffic and you will have lows between that, unless you are shopping online. Imagine you will still get bargains. There will be bargains. Retailers are continually saying, we know the environment and we will have to price toward it. What the price is versus what you walk out the door, it will be discounted, but they are planning now to work that into their framework so it does not have the same impact. Gotcha. I want to turn to Urban Outfitters<\/a>, which has really been struggling and then it had with a vintage sweatshirt it has been selling. Theyre having an Analyst Meeting<\/a> today. What do people want to hear from urban . The Urban Outfitters<\/a> bland brand, struggling, what is going on . They are seeing full price selling. To probably enough have a big impact on this corridor, but it is in the right direction. The second thing they want to understand is, what are they doing . Theyre using it online to test new concepts or new sub brands like activewear or Urban Outfitters<\/a>. How much could that drive the business by adding new categories to drive creation . It is going well so far based on what we have heard from colleagues there. All right. We will need to leave it there. More on the markets later. Welcome to the most important hour of the session. We have 59 minutes to go until the close. Today, president obama enlists a of middleoalition east allies to take out the in iraq iand syria. 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