? from bloomberg world news in new york, this is bottom-line.
President obama's nominee for the fbi calls water boarding a form of torture.
The latest from the ntsb on the crash of flight 214. we will take you behind the scenes of chipotle.
Breaking all of the fast food rules grains success.
To our viewers in the united states and joining us from around the world, welcome.
We have coverage of the stories making headlines.
Earnings are boosting u.s. stocks.
Reporting on the nyse taking over libor.
And following the confirmation hearing.
Just a short time ago, the national transportation safety board held the latest briefing about the investigation into the crash of flight 214 in san francisco on saturday.
The headline investigators say the aircraft's landing gear caused the collision that says the fuselages bouncing in is getting across the airfield.
They are trying to learn what was happening in the cockpit of the 777 as the plane made a dangerously low and slow approach before the crash landing that killed two passengers.
Audio recordings indicate the crew did not realize they were in trouble until seconds before crash.
Here is the latest from the chairmen.
Our power plant team is finishing up some of their work right now.
They identified that there was a post-crash fire on the inboard section, the right engine.
An oil tank had ruptured and leaked fuel onto the hot engine.
The president formally apologize for the aircraft and promised to do all he can to help victims and their families.
307 people were on board the plane, 182 of them needed to be hospitalized.
One of the two chinese teenage girls that died at the scene of the crash was most likely hit by a rescue vehicle rushing to the burning plane.
We will have more on that crash.
That is coming out and about 10 minutes right here on bottom line.
A criminal investigation has been launched into the deadly oil train derailment in quebec.
It killed 15 people . investigators have discovered elements that have led to a criminal investigation.
He did rule out terrorism.
It may have set off a deadly chain of events.
Reporting on fbi director nominee's confirmation hearing.
Rekindling the debate that raged on capitol hill during the george w. bush administration, torture and surveillance were the only topics today on the nomination to be the next fbi director.
They signed off on memos that allowed for the use of harsh interrogation tactics like sleep deprivation and water boarding.
The weeks leading up to this, there are major concerns about what these memos might mean.
They wasted little try and try to put them at ease.
When i became deputy attorney general, my reaction was that this was torture.
It is still what i think, and bob pollard made sure the fbi had nothing to do with that business.
He has a few steps to go before he replaces robert mahler.
The democrats and staff at lawmakers, his comments today when a very long way assuaging some of the larger concerns that they have had.
Is there any sense that members of either party will cause problems?
There will be a committee vote and move to the senate floor.
Robert muller steps down and september and the hope is to have somebody confirmed before that.
There is a chance that he could be unanimously approved.
The republican says he wants more information from the fbi on their use of domestic crone's. he is willing to put a hold on his nomination.
They spent plenty of time in the private sector, general counsel at bridgewater associates.
Is there anything that you have to do in terms of shedding assets.
I think we expected that he would be get on bridgewater and take a look.
What he said was if any other issues come before the fbi, i will recused myself.
He will get a onetime payment of a little over $3 million if he takes the role, getting rid of any profit sharing plan he had.
Other than that, he is in the clear.
Rumors and uncertainty over edward snowden today, accepting venezuela's offer but deleted the tweet.
It was based on the russia all news television channel.
Wikileaks said snowden has not accepted asylum officially in venezuela.
We will look into flight safety when bottom line returns.
? ? welcome back, this is bottom line on bloomberg television and streaming.
Let's show you how the equity markets finished today's session from tuesday, july 9, 2013. stocks rose for a fourth day, optimism on two fronts.
That economic growth is strong enough to withstand a reduction in stimulus.
We will get the latest minutes from the meeting tomorrow at 2:00 p.m. eastern time.
Let's get a check of the numbers.
Up 0.7% at 1652. today at 15,300, and the nasdaq was up over 0.5%. we have the details.
Stocks rising ahead of the comments tomorrow, investors betting that equities can sustain this rally.
Any talk of favoring always has major potential to spark a sell- off.
One stock that we considered a bellwether, shares rising today by more than 4%. it is more likely betting on speculation.
Cisco systems jumping to leave the dow higher.
Microsoft on clout computing infrastructure.
A gauge of homebuilders adding 5.5%. that is considered a sign of confidence in the american economy.
Kroger will buy harris supermarkets, the deal valued at $2.5 billion.
Here is what he had to say about the d.o.. a chain of stores, they bring a great focus on products and prepared foods for the organizations.
It gives us entry into some dynamic markets.
We are really excited about the prospects going forward.
Barnes and noble rising today, the largest bookstore chain moving closer toward a break up after the ceo resigned.
The manager has a history of spending units to be president with the company and ceo of nook media.
They have gained 2.4%, the longest winning streak and about six weeks.
Already up 16% since the start of the year.
Back to the coverage of the crash.
It was designed in the first half of the 1990's with all the latest and best safety features.
The aircraft is about the safest form of transportation ever devised on land or on sea.
For more on airline safety, i am joined by vice president of analysis.
It specializes in aerospace and data and analysis, joining me on the phone from washington.
Thanks for joining us tonight.
Flight 214, it was a boeing 777, how is it different from other aircraft?
They go through stages where they incorporate the latest and best in new technologies, fireproof material, or the latest structures without any kind of serious fatalities.
It is state of the arts and absolutely fantastic for a time . the pilot was used to flying other planes.
They are different from velocity and the cockpit.
There is a certain level of commonality.
There is a great deal of training that can happen that prepares a pilot for a new experience.
What is the significance of that from a safety perspective?
This will be shown as a success story that the system works.
It has been a long time since we have had a fatal crash involving main line jets.
And a terrible case scenario happened and the engines separated.
It was a horrifying event.
You only had two fatalities, that is remarkable.
It projected the overwhelming majority of passengers on board.
Vice-president for analysis of the d.o. group.
The system was off when flight 214 crash landed, but airlines have been notified of this well in advance.
Does it have more to do with pilot training than anything else?
It would have made landing slightly more difficult.
It should not be difficult to land the plane under normal circumstances.
It is too soon to know at this point.
How will that have any impact on the airline industry as a whole?
On the other hand, they will see a system that is remarkably safe.
Very few fatalities.
You are talking about millions of hours, millions of miles flown.
It is the cheapest form of transport in the history of the human race.
In terms of how far you go relative to casualties.
I don't think you will see any measurable impact on demand for international air travel.
It is tragic that two people were killed, but the death toll could have been much higher.
Are the features intended to prevent loss of life for minimize loss of life?
Pretty much both.
The idea is to prevent fires from spreading, to prevent seats from breaking apart or sliding together.
And of course, the structure of the plane itself is to be as crash-worthy as possible.
The system really did its job in this particular case.
I had a former official on last night, and let me pose the same question to you.
At this point, what lessons can be learned how going forward following saturday's crash from a safety perspective?
It will be the job of the investigators to go over what was done in the cockpit, procedures being followed, what the passengers followed.
The last .001% of the margins, there has been a lot to keep people safe, the system keeps evolving.
There might be one or two minor things.
But at the end of the day, we are incredibly safe.
They specialize in aerospace data and analysis.
Thank you for your time.
The recipe for success , mexican food chain chipotle talking about their non-traditional way of doing business and why the country -- the company has been such a hit with consumers.
Shares of chipotle more than tripled the last five years, giving the market value of $12 billion.
The fast casual mexican food chain, and side and the untraditional way of doing business.
They seem to have found a recipe for success.
Two decades ago, the founders really leading the way creating a new kind of fast food.
The company also spends more on ingredients.
And the unusual way it markets to its customers.
It is known for serving fast quality mexican food.
But making a tv show?
There is a series we have created.
I want to know more about you.
A likable but misguided group of people whose job is to spend the most egregious aspects of the industrialized agriculture in a positive way so a looks good for consumers.
We don't do the same kind of advertising everybody else does.
It would be the new menu item available for a limited time only.
From wendy's. their main menu has hardly changed since it opened 20 years ago.
Combinations of flavors.
We signed a lease and open a restaurant in an airport.
Part of the stipulation is that we be open during breakfast.
We have a new for taught us that we have dyestuff.
-- fertada we've diced up.
Can you expand that?
We will see how it goes, the right now we will continue our service where it is.
In an effort -- in an effort to standexpand, they have tofu for a national rollout.
There are vegetarians that are asking for this sort of thing.
Will one new menu item be enough?
They are sticking to their strategy.
Of the most important marketing that we do will always be what you experience when you come into this restaurant.
They are not just picking with mexican food, it is expanding to southeast asian cuisine in a new restaurant.
There are too currently open, one in hollywood, one in washington d.c.. unconventional has been used a couple of times in this report.
What sets them apart?
They really struck me.
If we spend the day with the ceo, and they spend the whole day interviewing all of the employees.
That look like regular guys.
It is not a clock in the morning and they just kind of showed up and took everybody by surprise.
They'll allow us to listen and and talk to the employees.
The manager actually had the fire her team and bring in some new folks.
They really believe in getting on the ground.
More than 200 days a year visiting the nearest stores.
The team works well, how they are the ones that are working with the customers.
They are doing catering and they are going the southeast asia cuisine.
Indian food, italian, we will see where it goes.
They are only doing that out a couple of airports.
How that is what they are doing.
Would it have killed you to bring some food?
Everyone wants samples.
Next time around.
You can hear about their strategy right here on bloomberg television.
South korea will be spent -- sending experts to washington.
? ? welcome back to the second half-hour of bottom line.
Thanks for staying with us.
Let's check for the markets finished the day's session.
The market's seeming to get the momentum back today, all of the major stock indices rose for a fourth straight day.
Of nearly three-quarters of a percent at 1652. the industrial average rising as well today.
And the nasdaq composite index rising as well.
Just over half of% -- .5%. after days of deadlock, the interim president has named a veteran economist as prime minister and pro-democracy leader as vice-president.
It is planning to hold new elections.
The ousted muslim brotherhood is rejecting the timetable.
Approving the plan to boost capital standards.
Raising cattle requirements to twice the current world standard.
It is meant to prevent repeats of the 2008 crisis.
And the big deal in the supermarket sector, $2.5 billion in cash.
They're already the largest grocery store chain --. that is a look at top stories in this hour.
Time for the commodities report to get some insight on the session and a look ahead at tomorrow.
We have horn rising more than 4%. raising a question of how high we go here.
Futures rallying to the highest price in more than a week, raising the risk of damaging crops.
They reduced the supply estimates that will send prices even higher.
If the usda comes in with the different forecast, you will see this game expand.
Zero were up close and personal.
Increasing bullish bets on crude.
It is strengthening out there in the caribbean.
Forecasters may not know until tomorrow or thursday if it will head for florida or dissipate.
The next 48 hours will be key in terms of detection.
Most analysts, 10 out of 11 forecasting a decline.
Expecting to ramp up operations, that would be the highest level since august.
The gasoline supplies probably rose by about a million barrels.
The price of gas at the pump, it was just under $3.50 at the lowest level for january.
They tend to lag the futures market.
South korea and aviation experts will be going to washington to join the in d.s.p.'s investigation into the american airlines crash.
We are joined from hong kong.
You are right.
South korea is in mourning with the rest of the world.
Holding a news conference, at one point, it is a common gesture that really symbolizes respect.
He flew to san francisco to visit the disaster.
There are individuals in washington.
In korea, they have boosted safety procedures.
They will meet with secretary of state john kerry and jack lew.
What does china want to achieve?
These are new regimes, this'll be the first time that new leadership is meeting with china oppose a new leadership -- china's new leadership.
China is pretty much sidelined from those discussions, so they will be talking about trade relations.
Other items include market access.
Think about the u.s.. and also chinese companies need to be not stealing intellectual property.
The u.s. leadership will meet with the chinese leadership.
We will be talking about the dialogue between the u.s. and chinese officials tomorrow night.
Coming next, what is old is new again.
That story when bottom line continues in just a moment.
? ? when you think about nissan, supercar might not be what you think, but they produce them every year.
They have been making super cars for decades and have been selling them as daily drivers.
We will see how it stacks up in the real world.
You get a lot of conveniences.
A car that can go from zero the 62.9 seconds, which is kind of ridiculous.
I don't know where i would use all of that power.
Maybe if i lived in wyoming.
You never had to be a highly trained driver to be able to take the advantage of everything that this car was able offer you.
It only makes about 1000 of these a year, a small fraction of the 5 million cars a year.
It cost $105,000, so why bother making a car like this?
Maybe it persuades you subconsciously to pick the nissan altima instead of the honda accord.
The features you expect are here.
Really nice sound system.
Navigation, weather alerts, a backup camera.
This is my acceleration performance in real time.
No other car has this kind of instrumentation.
As far as performance is concerned, it is superior to a porsche 911 turbo.
It might up 180,000 or $200,000. nissan is taking a trip down memory lane with the revival of an old brand.
Resurrecting datsun after killing at more than 30 years ago.
The first model will target first-time car buyers.
The bloomberg our reporter joins me from loss angeles.
Fast forward to the twenty first century.
How does the sun plan to overcome the lack of brand recognition where the car will be sold?
This is going to be a very inexpensive car.
Not a lot of details yet, but the company is saying that you can expect a sale price well below $6,000. how will it impact the strategy of competing across the price spectrum in developing countries?
They have to brands -- two brands.
This is the step to fill an the gap and go after customers and some of these emerging markets.
This is a scarce that into the broad vehicles.
They needed to establish as a stand-alone bargain brands.
No stranger to rolling the dice, they may be $5 billion bet on elector of vehicles that has not turned out to well.
How much has their success been tied?
Quite a bit.
It was a fairly high- cost gamble and the result has been mixed up to this point.
There is quite a bit less risk.
They are able to use existing vehicle architecture.
They will essentially do low- cost versions, similar to existing vehicles with redesigned exteriors.
Unlike the electric vehicle push, there is somewhat less financial risk to this.
They are not the only game in town in terms of low-priced cars, who else is making inroads?
In india, the suzuki mu rudi venture has been very strong.
Can they has been pushed into the market.
Toyota, honda, everyone is targeting these developing markets.
This is considered a new frontier just as we have seen in china.
We have more consumers entering the middle class that want to move up, and yet is especially promising.
There is a lot of competition and they definitely want to be right in the thick of it.
With miso never bring d atsun back to the united states?
i double checked with the company shortly before speaking with you this afternoon.
They reiterated that this is a brand for emerging markets.
It was very well known here some decades ago, but no plan to bring it back to the united states.
Talk to was a little bit about the renaissance we are seeing in the u.s. auto industry.
It wasn't long ago when they were about to ring the death knell for the big three.
We had general motors in bankruptcy, chrysler and bankruptcy, for close to it and still able to finance its own recovery.
It was all bad.
Fast forward to today, sales rebounding to the highest they have been since the recession.
Stock prices shot up, and the newer companies, tesla in particular.
The best performing automotive stock in the world.
I have to ask you before you go, how do we get grobar in a gtr and you talk nissan?
I drew the short straw today, i guess.
When the nissan comes out, since he was driving in the gtr, you going to be in a datsun on the into monica freeway?
There is a strong chance you will.
Alan, thanks for your time tonight.
You can watch bloomberg tv live on any windows phone.
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Changes ahead concerning libor, the benchmark index drenched in scandal gets sold.
Can nyse restore credibility?
? ? welcome back, this is bottom line on bloomberg and streaming on your tablet, phone, and bloomberg.com.
Britain is handing over administration of the london interbank offer rate to the operator of the new york stock exchange.
It comes on the heels of a major scandal.
We have more on this story.
Dodge the scandal heard around the world.
Big banks admitting to rigging rates and this is about restoring confidence.
Everything from credit cards to auto loans , they hand over the administration to the new york stock exchange.
There are some critics of the change.
They have never done this before, many banks tried to manipulate this to benefit their own trading.
Not everybody is on board with this.
How bad is it?
It was bad and that the big banks suffered some serious fines.
Some call it the biggest financial scandal of our time.
We're talking the 2.5 billion fines to the banks that were caw in the poster child.
They were still on going, they are conducting civil probes, and the british version of the u.k.'s serious fraud office is looking in the criminal charges.
As to how it will work, there will establish a unit for the business and run autonomously.
It will be responsible for banks submitting their numbers to the authority.
A lot of questions as to how this will be done.
It will be a lot more formalized.
A lot of questions and skepticism as well.
The underlying problem is that the estimate has not changed.
Still ahead, we have heard the phrase, he isn't happy, he is my brother.
In finland, it has a totally different meaning.
? bloomberg ? time for hot shots, compelling images of the day.
If you can't stand the heat, go to an isobar.
Looking to escape the heat wave, a new bar in midtown manhattan made out of 350 blocks of ice.
It is 23 degrees fahrenheit inside the bar, so the entrance fee covers gloves and a part of.
Couches covered in dder skin and cocktails based on vodka.
The bestr riders in round 11 of 17 in the mud across world championships.
The combined areas of treacherous corners, louis, almost sandy terrain.
Also in finland, 40 couples competed in the twentieth world wide carrying championship.
The race through an 830 ft obstacle course with a woman on their backs.
The most popular carrying method is called the estonia where the female is hanging upside down.
The men do not carry their own wives.
The race is based on a tribal practice of white ceiling.
The record stands at 56.9 seconds.
Get the latest headlines at the top of the hour on bloomberg radio, you're tablet, and bloomberg.com.
I'm mark crumpton.
See you tomorrow night.
This text has been automatically generated. It may not be 100% accurate.