Groupon CEO Lefkofsky Sets Company Sights on Amazon

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

Aug. 28 (Bloomberg) -- In today's "Movers & Shakers," Bloomberg 's Betty Liu reports that Groupon CEO Eric Lefkofsky is ramping up its competition with Amazon by increasing warehouse space to speed up delivery to customers. She speaks on Bloomberg Television's "In The Loop."

Will the price of chicken wings go sky-high?

You combine the world's largest restaurant chain.

-- you can blame the world's largest headrestaurant chain.

It is august 28th here at bloomberg headquarters.

Your "in the loop" and 9 betty liu.

-- i am betty liu.

We are julianna goldman in washington on the very latest on a possible multilateral strike against syria.

We talk about what that means for investors as they weigh stocks and commodities.

And matt miller, our resident on all things are those, is in car country this morning.

We will have more on that in a moment.

First, let's get to our top story in washington.

U.s., highlights britain and france -- u.s. with allies britain and france are moving toward putting plans in place.

The president obama is in talks with congressional leaders to get their support.

But how soon could this strike happened?

That is the big question.

The white house still has not decided on in the exact course of action.

Administration officials saying today that if he does go ahead it would not be limited to a one day operation.

The timing depends on planning here for the potential fallout of assad, striking back against allies and neighbors.

The administration is working with congress and international leaders and working to establish that it was assad's forces that carried out the attack.

There is little doubt that the hot -- the press secretary said yesterday there is little doubt that happen, but we need to wait for zero down.

How will the administration get to that point?

We're looking at the intelligence reports that the director of national intelligence is putting together.

That could be released as soon as tomorrow.

It is going to show how the syrian government forces toward cannot and lodged chemical weapons.

A -- stored and launched chemical weapons.

The timing would not be to wait until the g-20 summit next week.

The president will meet with key allies in the military campaign.

There was some thought that maybe he would wait until we got there to show it physically united front, but the official told me they would not necessarily be waiting for that.

What else will be brief waiting for from this report?

-- will we be waiting for from this report?

Russia is a side pansy -- is outside bang -- russia is assad's main banker.

The question is in retaliation.

That is the question russia is asking right now to cast doubt on whether the forces would have used chemical weapons.

" we know that the president is going to speak later to commemorate the 50th anniversary of martin luther king jr.'s speech.

Will hear anything further on this?

I would not expect that to be today.

The administration and telegraphing that whenever this campaign is going to be is going to be limited in size and scope.

They would not want to elevate it to some kind of wartime address to the nation.

Correct know, that would not be appropriate.

Thank you, julianna goldman.

Oil has been spiking.

Alix steel i've been looking at these big moves.

The s&p fell over 1.5% yesterday while the brent rallied 1.16, dragging the wti.

For all oil stocks to move opposite directions, this is the widest divergence in two years.

There is concern that syria could disrupt oil producers like iraq, the fifth largest producer in the world.

What does this divergence mean exactly?

It means we are shipping the attention away from the world economy and demand concerns over to -- over in china, and i to this demand for oil and the conflict in syria.

It supplies are disrupted, he still sees $120 per barrel of oil prices.

A lot of split within the region itself.

And some are saying that we associate white into safe havens like gold.

We definitely saw that yesterday.

Gold was of little squishy, as tom keene called it, and we have seen it climbed.

This is happening mostly on the futures market.

You could make the argument that it is primarily short- covering holdings of gold.

Etf's and others are basically unchanged.

Perhaps $1,500 gold could happen.

It's a pretty bullish call.

Correct hit pretty bullish, your right.

-- agreed bullish, you are right.

We will have the u.k. ambassador to syria, sir andrew green in just a few moments.

Let's turn back to corporate news moving and shaking this hour.

Groupon's eric lefkosky he wants the groupon site to ramp up competition with amazon.

He said he's planning have network of warehouses throughout north america.

It has set up a good business, which sells things i'd memory from the lows.

Having warehouse space could speed up the time that either products get to customers, perhaps overnight.

Michigan is showcasing its ego for the cars as industry -- eco-friendly cars . matt miller is there to tell us about the growth of this event in the market.

This is not where toyota is headquartered.

Obviously, the big three are in detroit, but toyota is out of california.

They have brought their entire fleet of hybrid cars all the way here to show ford, gm, and chrysler who is boss in the hybrid market.

They will bring are 21 new hybrid vehicles over the next couple of years.

They plan on making 10% of their sails globally hybrid vehicles.

That is 1 million vehicles.

And they want to bring out a hybrid fuel cell vehicle in 2015. they have been working on this technology for 25 years and they say it's even better than technology that is the electric as far as treating the environment well.

Gm, honda, for, they all pulled out of their goals to do that by 2015. camry has been the best-selling car in america for over a decade.

Toyota is facing a new competition from ford, the fusion, chevy, the the impala.

And there are also facing competition from tesla.

They're doing very well, especially in toyota's hometown with their all electric car.

The toyota owns a big chunk of the the tesla.

-- toyota owns a big chunk of tesla.

It and they have the rav 4. it is eight to liotta as to be with a test of motor in it.

-- it is a toyota as you be here with a tesla motor in it.

With all the good to believe that tesla has been getting with its cars, should toyota be out there talking about its relationships?

Toyota was an early investor in tesla.

I was just asking some of the people at the company whether they use tesla's motors in any of their cars, and they don't. it has got to be a bittersweet relationship.

They're happy that he tested as well because they invested barrier the, but on the other hand, they have their own electronic technology and they feel that there's the is just as good.

-- and they feel that their technology is just as good.

We're going to keep our rose on our radar this week.

Ford is ceo alan mulally is "in the loop" tomorrow.

We have a great lineup for you, including a look at the chicken wars.

The price of wings is heating up as mcdonald's starts to gobble up the supply.

And the latest food grade in italy it's credible -- is credible spreadable beer.

? years a look at our top headlines this morning.

Britain's prime minister condemns the chemical attacks in syria and supports a u.n. resolution that supports "all necessary measures" to deal with the situation.

Retribution for the financial crisis may have come in the form of legal bills.

It the six biggest banks have had to pay $103 billion in legal fees to settle a slew of claims about mortgages and foreclosures.

And in new york times website has been shut down after being attacked by the a steering group.

-- a syrian group.

They claim to have also attacked the washington times earlier this year.

Stocks have had quite a bit of a hit yesterday.

All the markets around the world that were hit with fears of rising tensions not only in that syria, but boiling over for the rest of the week.

Investors fled into a given site gold.

Some have also fled into the dollar.

Equities are rebounding a bit today.

We will get economic data later this morning.

We will get another picture of how the economy is.

Bond markets in the treasuries, we are also seeing quite -- quite a bit of bond buying going on because of fears about global tensions and the inevitable military strikes against syria and how that will play out in the rest of the region.

Let's move on to another story we have been following, which includes fast food.

The latest fast- food craze comes from burger king.

It is the french fry berger.

It is standard per -- berger talked with four french fries.

It will only cost $1. it is seen as a way to take a bite out of mcdonald's $1 value meal sales.

60 cals and 19 g of fat.

And another thing that is proper there in italy is spreadable beer.

Correct down fanti cracking open the years on an empty stomach?

Now you can spread it, on bread that is.

All the way from italy, is spreadable beer.

If that has not got your taste buds going, don't worry.

There are two varieties to try.

In a dark ale and a blonde ale.

The pale ale best pairs with the season and cheeses.

It is the collaboration between two and tying companies.

They're both near rome.

Chocolatiers realize that the aircraft can be applied as a sauce as well as a sweet.

And correct it is very smooth and creamy and can be spread just like chocolate.

It could be a good with but sweet and savory.

We have also made cakes with it and used it as a marmalade instead of -- as a marmalade to make a chart.

-- a tart.

At least you've got to try it once.

Back to wall street, the fallout from the financial crisis continues to haunt american regulators.

Stephanie ruhle is looking into jamie dimon's latest running with washington.

Tell us the background on this latest development with jpmorgan.

These are some big dollars.

Jpmorgan is fighting the latest request from the federal housing administration of $6 billion to settle their claim.

They sued jpmorgan and seven other banks over for the mortgage bonds just over two years ago.

They were trying to recoup taxpayer losses.

Three other banks have already settled.

They paid over $1 billion last month.

He citigroup and g have paid undisclosed amounts.

The two companies have taken in $187.5 billion in federal aid.

That is a lot of money.

All of this comes as banks are facing mounting legal bills.

Get your head around this.

All this is coming in at a time when the six largest banks have seen their legal tab since 2008 exceed a combined $100 billion.

That is more than the combined dividend payments made to shareholders over the past five years.

Jpmorgan at bank of america do account for the majority.

But experts across the legal community are saying this legal overhang is not.

To face any time soon.

You can have all of the ipo and m&a deals you want right now, but when you have $100 billion in legal fees, are you going to get ahead?

How do you expect wall street bankers to get paid and focus on key and out when they have tried coming left and right.

-- and focus on p &l when they have to feed coming left and right?

Have you heard anything about what they're doing to fight the fine?

Many have wondered if there is the target on jamie dimon's bac.

Many feel that jamie dimon push regulators out of jpmorgan.

After the london well, there were regulators who had a on their face.

Some said they are fighting back and then as style.

-- fighting back, a vendetta style.

He?

thank you.

-- thank you.

A burning question that a twitter want answered, what is most relevant on social media?

You'll never guess who.

?

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

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change