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Sept. 04 (Bloomberg) -- In "Company News," Bloomberg's Alix Steel reports on the top business stories of the day. She speaks on Bloomberg Television's "Bloomberg Surveillance.” (Source: Bloomberg)

They consider google, apple -- can microsoft compete?

Good morning, we are live from our world headquarters in new york.

It is wednesday, september 4. joining me as always, the first one to buy a smart watch, sara eisen will join me and alix steel is in poor scarlet fu.

I am so wound up , six new smartphones.

Which one will you buy?

It doesn't matter.

Samsung is today.

They will be out with the smart watch and smartphones.

It is a big thing in new york.

Will it catch on?

We have seen smartphones before?

How will they attract new customers?

President obama in stockholm, sweden a few hours ago and is headed to the g 20 in st.

Petersburg, russia tomorrow.

The bank of japan began a two- day meeting in tokyo.

All economists we surveyed forecast that officials will keep their policy unchanged.

Everyone is looking at the bank.

The backdrop has been they are successful.

Yes, but they need to see structural reform, changes in the japanese economy to get animal spirits up with consumer spending.

In the u.s., at 7 a.m., mortgage application numbers, 8:30 a.m., the beige book at 2 p.m. that is a read on the different fed regions and they will be looking for better labor market trends.

Usually, no one cares but i agree with you -- this time around, the nuances could be interesting.

The data is important because we are going into a jobs report.

That is on friday in the fed meeting is in two weeks.

Automakers will unveil their sales numbers throughout the day for the month of august print august sales could be the highest ever in terms of the amount of dollars spent.

Total vehicle sales -- 7 a.m., dollar general is out with earnings.

Let's do a data check.

We begin three days of a lot of economic news.

Monday, we were off.

You were here?

I came in on labor day and did reading.

But euro was flat for the last two days and the dollar-yen has weakened.

The two year yield is point 42%. syria is front and center right now for the president.

Let's look at a two-year chart.

The increase in the yield of the two-you is a good economy.

We have so far to get back to normal.

We forget how far we are.

Can you remember a two-year yield of two percent?

You see this in alterations.

What has happened lately is that the 10-year has shot up on the speculation that the fed will be tapering.

We are almost there to a big risk on move.

The wall of worry is there.

We have scoured the papers for the most important stories.

Our first one has to be microsoft.

There is mounting skepticism over the microsoft/nokia deal.

There are doubts about the microsoft them to compete against leaders and the industry like apple and samsung.

Microsoft wants to become the number three in smartphone sales by 2000 and eight -- 2018. microsoft shares dropped more than four percent on tuesday, losing 11 oem dollars of market value but this rings the ceo debate front and center.

Steven elop has come out as the favorite to take over from steve walmart.

There is lots of love and love and kisses.

They said stephen elop garnered the name stephen eflop . our second front-page story is linked in, filed to raise one billion hours after shares increased fivefold since its successful ipo two years ago.

This is twice the size of its ipo since it is selling less shares.

The company has doubled its user base and added features to keep members on the site for longer and increased subscription prices for recruiters.

This points out a different story for other tech ipos we have seen.

You had zynga and groupon and facebook am a all of which have struggled.

It has been fun to write essays on this.

I am doing a new one on hiring.

I see more traffic.

There is no question about it.

Linked in is not critical mass but they have improved so much.

If they raise $1 billion, what will they do with the cash?

It might be acquisitions to expand.

A big success and congratulations to them.

Let me get to our top story -- president obama is planning a news conference in stockholm and we'll talk about his call for military strikes on and russian president vladimir putin said this morning that russia would support a strike only if there is objective precise evidence.

I do not exclude this but i would like to draw your attention to one absolutely key aspect -- in line with their national law, only the un security council can sanction the use of force against a sovereign state.

Any other pretext or method which might be used to justify the use of force against an independent sovereign state is inadmissible and can only be interpreted as an aggression.

Hans nichols has cover the white house for years and is with us now from st.

Petersburg.

Good morning.

What you are going to hear from president vladimir putin -- he was talking about the need for un sanctions for any sort of strike on syria.

President obama will hear more of that throughout this two-day summit in st.

Petersburg.

He was supposed to start off this trip with a visit to moscow for a one-on-one talk with president putin and he canceled that and has now landed in sweden for an event they tacked on to give them something to do before he comes to st.

Petersburg.

Obama has a little bit of strength and that is that he has at least house republican support for an authorization of the use of force and it looks like he will get it in the senate.

When i look at the g 20 meeting, this is critical -- there is pomp and circumstance.

What is the backstory in st.

Petersburg?

What will go on behind closed doors in the quiet meetings?

There will be sideline conversations.

Obama has only three planned meetings with heads of state, but there will be numerous opportunities for the president to press his case to get some sort of international support for an action in syria.

At the same time, the president will have a lot of public criticism about going it alone and going without un authorization.

In private, the president can be persuasive but publicly, he will be caught in the crossfire.

You see the summer ellis of peter the great which is a lovely setting but there will be tense conversations in their.

We will see the limits of how much president obama personal relationships with some leaders and if he can translate it into action.

Thank you, hans nichols.

You have been to these meetings.

My basic take is the g7 you can almost breathe and at these meetings, there is a complete pr spin but there is a backstory.

They were popular during crisis.

They were considered for a productive during the economic crisis.

Since then, it has gotten a bad reputation.

It now seems to be on the back burner to syria.

I wonder what the backstory is.

It has to be the international response to the united states, particularly on this move from the president to call on congress to let them act in syria.

There is the international response to microsoft.

Stephen leahy is our guest host this hour.

He will give us some terrific perspective on the pageantry we saw yesterday.

Your interpretation of what we saw yesterday -- it shows that steve ballmer wants to make one last move before he goes.

This text has been automatically generated. It may not be 100% accurate.

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