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00:00CAROLINE: FROM BLOOMBERG WORLD HEADQUARTERS IN NEW YORK. WHAT YOU MISSED WAS A PRETTY BORING CLOSE. FEELING FLAT, JUST HALF A POINT ON THE S & P, BUT IT CLOSED HIGHER ON WEEK. U.S. RETAIL SALES BACK ABOVE PRE-PANDEMIC LEVELS. FURTHER GAINS MAY BE THREATENED BY A STALEMATE IN WASHINGTON OVER ADDITIONAL STIMULUS. CHILDCARE CHALLENGES -- ONE OF WALL STREET'S LARGEST BANKS SENDING BACKUP CHILDCARE PAYMENTS THROUGH THE END OF THE YEAR. WE WILL SPEAK WITH SHERRY BRONSTEIN. SOME BREAKING NEWS TO SPICE UP OUR FRIDAY -- SPACEX SET TO INCREASE ITS LATEST FUNDING ROUND TO $2 BILLION. WHY GO FOR $1 BILLION WHEN YOU SEEN SO MUCH INTEREST IN SPACEX? FINALIZING 2 BILLION AFTER THEY INCREASED THEIR ROUND, SAYING THEY'S -- FIDELITY INCREASED THEIR FUNDING. MEANWHILE, WE'VE GOT TO BE TALKING ABOUT WHAT'S BEEN HAPPENING IN TERMS OF THE REACTION TO THE ECO-DATA TODAY. TAYLOR: RETAIL SALES, PRETTY STRONG FOR JULY. MANY ECONOMISTS SAYING THAT THEY THINK THIS IS DUE TO THE $600 A MONTH IN EXTRA STIMULUS CHECKS THAT YOU GOT IF YOU ARE UNEMPLOYED. BUT IN AUGUST, IT LOOKS LIKE THE SKIES MAY DARKEN ONCE AGAIN, GIVEN THE WAVE OF SHUTDOWNS AND THE FEDERAL GOVERNMENT HAS STOPPED SENDING THOSE $600 IN WEEKLY CHECKS. ALL MAKING THE OUTLOOK FOR AUGUST A LITTLE MORE CLOUDY. FOR THIS OUTLOOK, WE WANT TO WELCOME THE DIRECTOR OF RETAIL STUDIES AND ADJUNCT FESTER AT COLUMBIA SCHOOL OF BUSINESS. HE HELD MULTIPLE EXECUTIVE SESSIONS, MOST RECENTLY SERVING AS CHAIRMAN AND CEO OF SEARS CANADA. IT'S GREAT TO HAVE YOU. TALK TO US ABOUT WHAT YOU MAKE OF THE DATA THIS MORNING AND IF YOU THINK THE CONSUMER IS AS HEALTHY AS IT MAY LOOK ON THE TOP LINE. > > THE CONSUMER IS NOWHERE. THE JUNE NUMBERS HAD US JAZZED THAT RECOVERY WAS UPON US. THAT'S PRINCIPALLY BECAUSE THE STORES OPEN THEIR DOORS, THE CUSTOMERS WHO HAD BEEN COOPED UP FOR SEVERAL MONTHS AND WERE STILL RELATIVELY SOLID BECAUSE OF THEIR GOVERNMENT SUBSIDY AND UNEMPLOYMENT CHECKS -- OF COURSE IT WAS NOT ALL THAT APPEALING TO WAIT AN HOUR AND HALF ONLINE TO GET INTO NIKE STORE, SO THE HALO JUNE REPRESENTED SEEMED TO DIM CONTENDER BULLY -- CONSIDERABLY IN JULY AND I THINK THE PARTY IS OVER. THE GOVERNMENT SUBSIDIES ARE NOWHERE. ANYBODY'S GUESS WHEN THEY WILL RESUME, IF THEY WILL RESUME, TO WHAT EXTENT THEY WILL RESUME. BACK TO SCHOOL IS UPON US AND THERE IS NO CLARITY AS TO WHAT THAT IS GOING TO BRING TO MILLIONS OF HOUSEHOLDS. WHEN ALL IS SAID AND DONE, IF DISPOSABLE INCOME REMAINS AS INHERENTLY CURTAILED AS IT REALLY IS, THE SHUTDOWN IS GOING TO BE UPON US AS IF THOSE DOORS ARE STILL LOCKED. ROMAINE: CAN YOU TALK ABOUT SOME OF THE UNDERLYING TRENDS REVEALED AND THAT RETAIL SALES REPORT. ONCE YOU GET BEYOND THE TOPLINE NUMBER, YOU SAW A LOT OF SPENDING ON CONSUMER STAPLES AND KIND OF THE THINGS WE NEED, EVEN SOME OF THE BRIGHT SPOTS IN ELECTRONICS SEEMS TO BE TIED TO THE FACT THAT A LOT OF US ARE BUYING COMPUTER MONITORS AND THINGS WE NEED TO WORK FROM HOME. IS THERE A LONGER TERM STRUCTURAL SHIFT IN THE WAY WE ARE GOING TO BE SHOPPING AND THE THINGS AS CONSUMERS WE ARE GOING TO CARE ABOUT VERSUS WHAT WE WERE LOOKING FOR PRE-COVID-19? MARK: THE ONSET OF THE CRISIS BROUGHT THE ESSENTIAL BUSINESS RIGHT UP TO FLOOR. GROCERIES, HOME SUPPLIES, HOME FURNISHINGS BECAME VERY IMPORTANT RELATIVE TO ALL THE CATEGORIES PRINCIPAL, CLOTHING AND ACCESSORIES, WHICH FELL OFF A CLIFF. APPAREL AND ACCESSORY DOORS OPENED, BUT THAT HAS ABATED SIGNIFICANTLY. THE BACK TO SCHOOL SEASON IS ALL ABOUT LAPTOPS AND TABLETS. IT'S NOT ABOUT JOHNNY AND MARY GETTING NEW OUTFITS WITH WHICH TO GO TO SCHOOL AND BACKPACKS TO STUFF THEIR BOOKS IN. MY GUESS IS THE CRISIS IS VERY MUCH OUT THERE IN TERMS OF THE INFECTION RATE CONTINUING AND THE DEATH RATE CONTINUING. I THINK WE ARE GOING TO SEE AN ENORMOUS HEALTH CRISES WHICH HAVEN'T ALREADY BEEN EVIDENT IN THE LAST MONTH OR SO THROUGHOUT THE SOUTH AND SOUTHWEST. THIS SHIFT IN CRISIS IS GOING TO CONTINUE, BUT THE TRENDS THAT WERE EVIDENT BEFORE COVID APPEARED ARE COMPLETELY APPARENT. THERE WAS AN ENORMOUS MULTIYEAR SHIFT FROM BRICK-AND-MORTAR RETAIL OVER TO E-COMMERCE. THIS HAS ACCELERATED AT AN EXTRAORDINARY RATE AND THAT ACCELERATED SHOW AND IS GOING TO ABATE A BIT ONCE THE CRISIS IS OVER, BUT IT'S NOT GOING TO DISAPPEAR. IT'S ESPECIALLY EVIDENT IN THINGS LIKE GROCERY WHERE EVERYONE WAS CHASING AMAZON'S TAIL TRYING TO AVOID BEING HURT BY THEM. NOW, THEY ARE GETTING TREMENDOUS VALUE FOR THE FACT THEY MADE INVESTMENT AND INFRASTRUCTURE. I'M SPEAKING SPECIFICALLY ABOUT WALMART AND TARGET FOR EXAMPLE. I THINK ESSENTIALS WILL CONTINUE IN IMPORTANCE WHILE THE CRISIS RAINS AND I BELIEVE IT'S GOING TO BE WITH US RIGHT THROUGH NEXT YEAR. I THINK THIS IS DISCRETIONARY PRODUCTS, TYPICALLY FASHION, ARE GOING TO TAKE A BACKSEAT NO MATTER HOW WE FEEL ABOUT THEM. CAROLINE: IF YOU ARE A FASHION BUSINESS LEADER AT THE MOMENT AND YOU HAVE TO FIRST AND FOREMOST WEATHER THE STORM AND GET TO WHERE WE HAVE SOME SORT OF IMMUNE -- WHEN THERE IS A VACCINE. YOU ARE HOPING UPON WASHINGTON TO GET SOME STIMULUS, BUT WHAT TO DO IN THE RIGHT HERE, RIGHT NOW, HAVING LED SEARS AND NOW FROM YOUR ACADEMIC WORK? MARK: I THINK YOU HAVE TO TAKE A FUTURE VIEW AND ADOPT A POINT OF VIEW WITH REGARD TO A POINT IN TIME ON THE CALENDAR WHEN YOU BELIEVE COVID-19 HAS EITHER BEEN CONQUERED OR IS UNDER CONTROL. FOR ME, THAT'S THE FIRST OR SECOND HALF OF 2022. PICK A POINT IN THE FUTURE, AS UNCOMFORTABLE AS THAT MAY BE, AND BEGIN WORKING BACKWARDS TO THE REALITY OF TODAY. YOU NEED A FORTRESS-LIKE BALANCE SHEET. YOU NEED TO ADJUST YOUR ASSORTMENTS TO REFLECT IN 2022 WHAT YOU BELIEVE CUSTOMERS WILL BE SHOPPING AND LOOKING FOR. YOU NEED TO RETAIN THE EMBEDDED TALENT IN YOUR ORGANIZATION. YOU NEED TO SHUT DOWN ANY AND ALL DISCRETIONARY ACTIVITIES TO PROTECT AND PRESERVE YOUR CASH AND CASH CAPACITY. YOU HAVE TO REFLECT ON THE FACT THAT WISHING THE BALL IN THE HOLE IS NOT GOING TO HAPPEN. THE NOISE WE HEAR FROM WASHINGTON ABOUT A VACCINE ON ELECTION DAY IS NONSENSE. IF A VACCINE WERE TO SURFACE AS EFFECTIVE TODAY, IT WOULD BE WELL INTO NEXT YEAR BEFORE IT COULD BE REASONABLY DISTRIBUTED AND OF VALUE. SO, WE ARE LOOKING AT THE FUTURE AND I THINK YOU LOCK IN THE FUTURE AS BEST YOU CAN AND WORK BACK TO THE REALITY OF THE PRESENT. ROMAINE: GREAT TO HAVE YOU AND GREAT INSIGHTS. MARK COHEN IS THE DIRECTOR OF RETAIL STUDIES AND ADJUNCT PROFESSOR AT THE COLUMBIA UNIVERSITY SCHOOL OF BUSINESS. SOME BREAKING NEWS -- FILINGS COMING -- ARCHER HATHAWAY FILINGS ARE OUT, REDUCING ITS TAKES IN QUITE A FEW OF THE BIG BANKS INCLUDING JP MORGAN, WELLS FARGO, PNC, AND BANK OF NEW YORK. IT EXITED ITS GOLDMAN SACHS STEAK AGAIN. THESE ARE THE FILINGS FOR THE SECOND QUARTER. WE SHOULD POINT OUT IT APPEARS BERKSHIRE EXITED SEVERAL AIRLINES, DELTA, SOUTHWEST, UNITED AND AMERICAN. ONE INTERESTING THING HERE IS THAT THEY DID ADD GOLD. CAROLINE: HOW ARE THOSE COINS GOING? ROMAINE: VERY WELL. MAKE SURE YOU TUNE IN TONIGHT AT 6:00 FOR BLOOMBERG WALL STREET WEEK WITH DAVID WESTIN. DAVID IS NOT GOING TO BE HERE, BUT SCARLET FU WILL DIVE INTO THE BIDEN/EHRET -- BIDEN/HARRIS TICKET. AS TONIGHT AT 6:00 EASTERN TIME. > > ELECTING BIDEN AND HARRIS, AS MUCH AS IT WILL BE GREAT FOR THE COUNTRY WILL NOT BE GREAT FOR THE MARKET. > > ASIDE FROM THAT TAXATION, IT DOESN'T DO MUCH BY WAY OF FINANCIAL POLICY. PEOPLE EAT -- PEOPLE WILL BE WATCHING CLOSELY FOR THE FEC CHAIR. WHAT ARE YOUR EXPECTATIONS AND THE TYPES OF MOVES THEY WOULD MAKE TO REGULATE THE INDUSTRY IN A DIFFERENT WAY? > > THE BIDEN CAMP AND THE PEOPLE I HAVE SPOKE TO ARE QUITE CENTRIST AND TO BE FAIR, MORE CONSERVATIVE THAN THE TRUMP CAMP. THESE GUYS ARE KEYNESIAN, BUT THEY ARE FISCAL CONSERVATIVES AND THAT THEY KNOW YOU CAN'T KEEP SPENDING FOREVER WITHOUT HAVING SOME OFFSET. SO I THINK YOU WILL SEE TAX HIKES ON THE WEALTHY TO FUND SOME PROGRAMS. LISTEN, THE COUNTRY IS SKEWED ON DISTRIBUTION OF INCOME AND IT'S AS WIDE AS IT HAS BEEN EVER WHEN YOU HAVE GUYS LIKE JEFF BEZOS WORTH 180 BILLION DOLLARS AND THE AVERAGE AMERICAN NOT DOING AS WELL. THE DEMOCRATS FEEL LIKE THERE'S SOME TIME FOR CHANGE AND I THINK MOST PEOPLE IN AMERICA AGREE WITH THAT. IT'S A QUESTION OF HOW IT DONE. IF IT'S DONE FAIRLY AND TRANSPARENTLY AND THAT HAS BEEN THE PROBLEM WITH MANY, MANY TAX REGIMES IS NOBODY FEELS LIKE THEY HAVE BEEN FAIR AND TRANSPARENT AND THAT WILL BE THE BIG TEST. > > OUR MARKETS PREPARED FOR THAT ACCURATELY? -- OUR MARKETS PREPARED FOR THAT ACCURATELY MARK > > WE ARE IN A LIQUIDITY DRIVEN FRENZY. TESLA STOCKS UP 20% BECAUSE THEY ANNOUNCED THE 521 STOCK SPLIT. IN SOME WAYS, THAT MAKES ZERO CENTS. IT MAKES LOTS OF SENSE IN THIS ENVIRONMENT BECAUSE EVERYTHING IS LITERALLY TRADING LIKE BITCOIN AND 2017 INTO A SPECULATIVE FRENZY. THOSE FRENZIES, BUBBLES NORMALLY AND WITH POLICY RESPONSE. USUALLY IT IS FED ACTION. IT COULD BE ACTION ON RAISING TAXES THAT COULD AND THE FROTH WE HAVE. AMAZON IS AN AMAZING COMPANY AND IS DOING AMAZING THROUGH COVID BUT IT'S TRADING ON 100 TIMES EARNINGS ON A GIGANTIC'S EARNINGS BASE. I THINK WE ARE IN BUBBLE TERRITORY AND THE ELECTION MIGHT BE WHAT ENDS UP AT LEAST STOPPING IT FOR A WHILE. > > YOU MENTIONED A FEW VOLATILE STOCKS THERE -- TESLA FOR ONE, BITCOIN FOR ANOTHER AND I WANT TO GO THERE WITH YOU ON BITCOIN. IS IT AN APPROPRIATE STORE OF VALUE IN THESE VOLATILE TIMES? > > I THINK IT IS. I THINK BITCOIN CROSSED THE RUBICON IN THE LAST YEAR FOR BEING SOMETHING THAT WELL MAYBE TO SOMETHING THAT PEOPLE THINK IS. YOU HAVE INSTITUTIONS JOINING, YOU HAVE BANKS LOOKING INTO HOW THEY GET INVOLVED, AND I THINK IT IS A DOWNHILL FROM HERE AS OPPOSED TO UPHILL. FROM MY FIVE YEARS IN THE CRYPTO SPACE, I WAS ALWAYS PUSHING THE BALL UPHILL AND IT FEELS LIKE IT'S ROLLING DOWNHILL ALL OF A SUDDEN. I LIKE BITCOIN BETTER THAN GOLD BECAUSE BITCOIN HAS BEEN HARD TO BUY. IT'S GOT A $220 BILLION MARKET GAP WHERE GOLD IS OVER $10 TRILLION. BITCOIN HAS A LONG WAY TO GO TO CATCH GOLD IN ADOPTION. > > WHERE DO YOU THINK GOLD SHOULD BE ENDING UP BY THE END OF THE YEAR? > > THOSE ARE HARD PREDICTIONS. WE HAVE TAKEN OUT THE OLD HIGH AND SO COULD IT BE $2500 TO $3000? IT COULD BE. ONCE YOU TAKE OUT THE OLD HIGHS AND MARKETS, IT'S HARD TO FIGURE OUT WHERE THEY END. I DON'T THINK ANYTHING CHANGES BETWEEN NOW AND YEAR-END IN THE PROFLIGACY OF THE FISCAL SIDE OF THE FED PRINTING MORE AND MORE MONEY. I THINK THE FED IS GOING TO GO EVEN MORE DOVISH AT THE NEXT MEETING AND THAT COULD BE THE NEXT JUICE THAT ACCELERATES GOLD BITCOIN. ROMAINE: THE FOUNDER AND CEO OF GALAXY INVESTMENT PARTNERS. INTERESTING. LET'S TALK ABOUT THOSE RETAIL SALES NUMBERS WE GOT IN THE U.S. EARLIER. REBOUNDING ABOVE THAT PRE-PANDEMIC LEVEL, BUT IT'S THE COMPETENCE -- THE COMPOSITION OF THOSE RETAIL SALES AT TELLING INTERESTING STORY ABOUT WHAT'S GOING ON WITH CONSUMER SPENDING. JOINING US RIGHT NOW IS BROOKE SUTHERLAND WHO WE HAVE NOT HEARD FROM IN QUITE SOME TIME. WELCOME BACK TO THE NUMBER ONE SHOW ON THIS NETWORK AT THIS HOUR. TALK TO US ABOUT WHAT PEOPLE ARE SPENDING MONEY ON. WE HAVE SEEN A LOT OF CONSUMER STAPLES, BUT WE'VE SEEN SOME DISCRETIONARY ITEMS LIKE SWIMMING POOLS. BROOKE: WE HAVE, WHICH IS INTERESTING. WHEN YOU THINK BACK TO THE 2008, 2009 RECESSION, EVERYTHING GOT HIT. YOU WOULD BE HARD TO COME UP WITH ANY BENEFICIARIES, BUT THAT'S NOT THE CASE THIS GO AROUND. SWIMMING POOLS IS ONE AREA WHERE YOU SEE A LOT OF DEMAND AND SO IT'S SHOWING UP AT THE DISTRIBUTOR LEVEL, THE COMPANY THERE IS POOL CORP.. THEY HAD RECORD SALES IN THEIR SECOND QUARTER AND IT WAS MOSTLY BURNING OFF EXISTING INVENTORY. THAT'S GOING TO WORK ITS WAY TO A COMPANY CALLED PENT AIR. THEY WORK IN NEW CONSTRUCTION AND REMODELS. A SWIMMING POOL IS NOT AN EASY INVESTMENT. IT TAKES SEVERAL QUARTERS TO BUILD. TO SEE PEOPLE WILLING TO SPEND ON SOMETHING LIKE THIS IS REALLY TELLING. IT SHOWS HOW MUCH TIME WE ARE SPENDING IN OUR HOMES AND THE DESIRE TO MAKE THEM A LITTLE MORE COMFORTABLE, BUT SOME AMERICANS ARE FEELING GOOD ABOUT THEIR FINANCES AND ARE WILLING TO PUT THEIR MONEY TO WORK ON THESE BIGGER INVESTMENTS WHICH SHOULD HELP SOME DEGREE SOFTEN THE BLOW OF THE DOWNTURN. CAROLINE: ANYTHING THAT HELPS US PAINT A PICTURE OF WHAT THE RECOVERY EVENTUALLY LOOKS LIKE WESTON MCKAY DON'T IMAGINE RETAIL GO THICK AND FURIOUS ON EVERYONE LOADING UP ON SWIMMING POOLS AD INFINITUM. BROOKE: NO, BUT A WILLINGNESS IN THIS CATEGORY, IT'S NOT JUST POOLS, IT'S NOT THE -- IT'S ALSO HOMES. ZILLOW SAW STRONG RESULTS IN PART OF THAT IS PEOPLE SHOPPING FOR BIGGER SPACES IN LESS URBAN AREAS. MONTHLY USERS WERE UP 12%. AUTOS IS ANOTHER BIG ONE AND THAT HAS FAR-REACHING RAMIFICATIONS. YOU SEE AUTOS BOUNCING BACK MUCH MORE SIGNIFICANTLY AND THAT IMPACTS AUTOMAKERS LIKE GM AND FORD. THAT FILTERS ITS WAY TO A LOT OF COMPANIES THAT HAVE BIG BUSINESSES SUPPLYING PARTS AND THAT SORT OF THING. IF YOU THINK ABOUT THE CATEGORIES ARE HOLDING UP, AND WE HAVE TO SEE IF IT LASTS, THAT'S A BIG PART OF THE ECONOMY. BUT HAVING THAT BEING RELATIVELY ROBUST IS ENCOURAGING. SOME OF THESE OTHER CATEGORIES, WHETHER THEY HOLD UP ONCE WE GET THROUGH THE PANDEMIC, WE WILL HAVE TO SEE. ANOTHER ONE HIS RVS. PEOPLE ARE TRYING TO GET OUT THERE, LEAVE THEIR PROTECTIVE BUBBLE AND TAKE SOME SORT OF TRIP, BUT THEY DON'T WANT TO GET OUT AN AIRPLANE. RVS ARE BIG SELLERS. ANOTHER ONE IS ROSETTA STONE WHICH SAW A 90% INCREASE IN DEMAND FOR ITS CONSUMER LANGUAGE OFFERINGS AS PEOPLE BRUSH UP ON THEIR SPANISH. CAROLINE: I FEEL I KNOW SOMEONE ON THIS SET WHO WILL BE DOING THAT AS TAYLOR CONTINUES TO OUT WHEN US ALL IN TERMS OF HER SELF LEARNING. BROOKE SULLIVAN, A GREAT PIECE AND REALLY INTERESTING ALL THE THINGS PEOPLE ARE SPENDING ON. NOW A QUICK CHECK ON THE BUSINESS HEADLINES -- MOVIE INDUSTRY TAKES ANOTHER STEP ON ITS COME BACK -- CINEMARK STARTS A BROAD REOPENING OF ITS U.S. LOCATIONS TODAY. THE ROLLOUT WILL CONTINUE THE NEXT TWO WEEKS. THEY WILL SHOW CLASSIC FILMS AT FIVE DOLLARS FOR ADULTS. THE RUSSELL CROWE THRILLER "UNHINGED" OPENS NEXT FRIDAY. THE CEO OF INCREDIBLE HEALTH SAYS A PRACTICAL REASON FOR COUNTRY -- FOR COMPANIES TO BUILD BY THEMSELVES. > > THERE'S A CONCEPT CALLED DIVERSITY DEPTHS. IT'S FASTER AND EASY TO BUILD A HOMOGENOUS TEAM COME BUT YOU ARE GOING TO PAY FOR IT LATER. WHEN YOU WANT TO HIRE THAT STAR BLACK ENGINEER, THEY ARE NOT GOING TO JOIN AN ALL-WHITE TEAM. STARTING EARLY IS CRITICAL. CAROLINE: YOU CAN CATCH BLACK LEADERSHIP MATTERS AT 7 P.M. NEW YORK TIME. CAROLINE: THE U.S. AND CHINA ARE POSTPONING PLAN TALKS OVER THE WEEKEND THAT WAS REVIEWING PHASE ONE OF THE TRADE AGREEMENT. FOR MORE, WE WANT TO WELCOME AN EXPERT, THE CHINA AND NORTHEAST PRACTICE HAD FOR THE CHINA EURASIA GROUP. DOES THIS SIGNAL ANYTHING ABOUT ANY FUTURE TRADE AGREEMENT? MICHAEL: I DON'T THINK THE POSTPONEMENT IS A DANGER SIGN IN AND OF ITSELF. I THINK THE MEETING WILL GENERALLY BE CORDIAL AND THESE TWO OFFICIALS VERY MUCH SUPPORT THE DEAL. BUT I THINK THE DEAL IN BROADER TERMS, AND BROADER GEOPOLITICAL TERMS IS ON THIN ICE. IT WILL BE IMPORTANT TO SEE WHAT THE MESSAGING IS OUT OF THIS MEETING AND IF THERE REASON FOR THE DELAY IS THE CHINESE HAVE BEEN RECALIBRATING THEIR APPROACH TO THE U.S. AFTER SEVERAL WEEKS OF A VERY INTENSIVE BARRAGE OF U.S. POLICY ACTIONS. ROMAINE: WHEN WE TALK ABOUT THE PHASE ONE PORTION OF THIS DEAL, IT WAS BASICALLY A PURCHASE DEAL THAT HASN'T BEEN FULFILLED. BENEATH THE SURFACE AND LOOKING AT WHAT PHASE TWO OR THREE WOULD HAVE BEEN, THOSE SEEMED TO BE THE REAL ISSUES AND THE U.S. AND CHINA SEEM TO HAVE MOVED FURTHER APART ON THOSE ISSUES IN THE LAST YEAR, PARTICULARLY WHEN IT COMES TO NOW WHAT IS THE POLITICAL FOOTBALL, TIKTOK. MICHAEL: THAT'S RIGHT. IF YOU THINK ABOUT A PHASE TWO DEAL, THIS WAS DESIGNED TO MAKE PROGRESS ON THESE UNDERLYING TECHNOLOGY ISSUES WHICH IN BOTH COUNTRIES HAVE BECOME COMPLETELY INFUSED WITH NATIONAL SECURITY ISSUES. SO IT IS HARD TO SEE PROGRESS FOR A PHASE TWO DEAL ANYTIME SOON, EVEN NEXT YEAR. IN THE MEANTIME, THE PHASED DEAL ONE HAS BECOME SOMETHING OF A ZOMBIE TRADE DEAL, BY WHICH I MEAN NEITHER SIDE HAS MUCH OF AN INCENTIVE TO FORMALLY PULL OUT OF THE DEAL BUT HAS MUCH LESS POLITICAL RELEVANCE AND IT IS NOT ACTING AS A RESTRAINT, PARTICULARLY ON THE U.S. SIDE. TAYLOR: WHEN ARE WE GOING TO GET TO THE REAL MEAT AND POTATOES OF THIS, WHICH IS I.T. THEFT, FORCED TECH TRANSFER, NOT WITH JUST THE U.S. BUT HAVING A MULTILATERAL APPROACH TO GET TOUGH ON CHINA WITH THESE ISSUES? MICHAEL: PARTIAL PROGRESS ON PHASE ONE, BUT VERY PARTIAL. THE TOUGHER SLEDDING IS AHEAD. MUCH OF THIS WILL DEPEND ON THE U.S. ELECTION, PARTICULARLY THE MULTILATERAL PART. IF WE WERE TO SEE A BIDEN ADMINISTRATION, A KEY DEPARTURE FROM THE TRUMP ADMINISTRATION WOULD BE WORKING WITH ALLIES LIKE THE EUROPEAN UNION TO MAKE PROGRESS ON THESE ISSUES IF WE HAVE A SECOND TERM FOR PRESIDENT TRUMP IT WILL CONTINUE TO BE MORE OF A UNILATERAL APPROACH AND I DON'T SEE THAT UNITED FRONT AS LIKELY. CAROLINE: ON THE FLIPSIDE, WHAT ARE YOU HEARING OR FEELING CHINA MAKES OF THE LATEST FLASHPOINT, WHETHER IT BE TIKTOK OR TENCENT, HOW MUCH THEY FEEL THEY CAN CARRY ON WITHOUT INTEGRATING IN THE U.S.? WE CAN SEE A BIFURCATED WORLD BUILT UP AND THEY ARE OK WITH THAT? MICHAEL: I THINK THAT'S INCREASINGLY THE CONCLUSION CHINA HAS BEEN DRAWING. YOU SEE THAT INCREASINGLY IN SOME OF THE CHINESE POLICY ANNOUNCEMENTS, WHERE THEY ARE TALKING ABOUT A DUAL CIRCULATION ECONOMY, WHICH IS A MOUTHFUL. IT REALLY ONLY HAS RELEVANCE AND HOW CHINA HAS BEEN FRAMING THESE ISSUES, BUT WHAT IT GETS DOWN TO IS CHINA FEELING LIKE IT NEEDS TO BE MORE OF A DOMESTICALLY FOCUSED ECONOMY, AND THAT'S BECAUSE OF THE CONCLUSION THAT ON TECHNOLOGY, IT'S GOING TO BE HARD TO STAY INTEGRATED WITH THE UNITED STATES. ROMAINE: THE IDEA SEEMS TO BE CHINA DOES WANT TO MAINTAIN SOME SORT OF PRESENCE AS A FORCE I GUESS A LOT OF COUNTRIES HAVE TO RELY ON FOR SOME GOOD WHILE BUILDING UP ITS OWN DOMESTIC ECONOMY. THIS SEEMS TO BE A MODEL WE HAVE SEEN BEFORE FROM OTHER WELL ESTABLISHED, DEVELOPED NATIONS. IS THERE A REASON CHINA CAN'T PULL IT OFF? MICHAEL: I THINK YOU ARE RIGHT. IT ALSO ECHOES WHAT CHINA HAS BEEN TALKING ABOUT FOR A LONG TIME, HAVING THE DOMESTIC ECONOMY BE THE ENGINE OF GROWTH. WHAT IS DIFFERENT IS CHINA IS LOOKING AROUND THE WORLD, SEEING A GLOBAL ECONOMY IN WHICH CHINA IS MUCH STRONGER THAN ANY OTHER ECONOMY AND LIKELY TO BE SO FOR THE NEXT SEVERAL YEARS. FROM THE CHINESE PERSPECTIVE, THEY HAVE TO RELY ON DOMESTIC DEMAND IN A WAY THAT THEY DIDN'T BEFORE. I THINK THERE'S PROBABLY A PART OF THIS LOOKING AT DOMESTIC DEMAND AS SOMETHING THAT WILL INCREASINGLY BE DRIVEN BY IMPORTANT SUBSTITUTION POLICIES. IF YOU THINK ABOUT AN AREA LIKE SEMI CONDUCTORS, IF YOU ARE A POLICYMAKER IN BEIJING, IT DOESN'T LOOK LIKE A SAFE IDEA TO HAVE CHINA CONTINUE TO RELY ON IMPORTS FROM THE UNITED STATES GIVEN HOW MUCH THIS HAS BECOME WRAPPED UP IN NATIONAL SECURITY ISSUES. THE CHINESE WILL BE LOOKING NOT JUST TO STIMULATE DOMESTIC DEMAND, BUT MAKING MORE OF THESE PRODUCTS AT HOME TO REDUCE CRITICAL VULNERABILITIES. ROMAINE: ALWAYS GREAT TO HEAR FROM YOU. CHINA AND NORTHEAST ASIA PRACTICE HAD WITH THE EURASIA GROUP. WHAT'S GOOD TO MARK CRUMPTON HIS STANDING BY WITH THE FIRST WORD NEWS. MARK: JOE BIDEN N, HARRIS ARE A STEP CLOSER TO OFFICIALLY BECOMING THE DEMOCRATIC TICKET FOR THE 2020 PRESIDENTIAL ELECTION. THE TWO SIGNED THEIR REQUIRED DOCUMENTS IN WILMINGTON, DELAWARE TODAY AND THE DOCUMENTS CONFIRM THEY ARE SEEKING THE OFFICES OF PRESIDENT AND VICE PRESIDENT AND THAT THEY ARE QUALIFIED TO DO SO AND ACCEPT BEING PLACED ON THE BALLOT. WE WILL CONTINUE TO FOLLOW THAT STORY AND HAVE MORE JUST A LITTLE LATER. IN OTHER NEWS, ANOTHER ROUND OF FISCAL REALLY FROM THE PANDEMIC TALKS ARE STOCK -- ARE STUCK ON ABOUT A TRILLION DOLLARS IN AID. DEMOCRATS OFFERED TO CUT THEIR ORIGINAL DEMAND FOR $3.5 TRILLION BY ONE THIRD, BUT ARE INSISTING ON THE GOVERNMENT AID. THE WHITE HOUSE HAS OFFERED NO MORE THAN $150 BILLION FOR THAT. NEGOTIATIONS ALREADY STAND STILL HEADING INTO TWO WEEKS IN WHICH BOTH MCGRATH AND REPUBLICANS WILL HOLD THEIR NATIONAL NOMINATING CONVENTIONS. MEXICO'S RICHEST MAN IS PUTTING HIS MONEY BEHIND A COVID-19 VACCINE. BILLIONAIRE CARLOS SLIM SAYS HIS BUSINESS WILL PAY FOR MEXICO AND ARGENTINA TO PRODUCE UP TO 250 MILLION DOSES OF ASTRAZENECA CANDIDATE FOR LATIN AMERICA. MEXICO HAS MORE THAN 500,000 CASES OF CORONAVIRUS, MORE THAN 54,000 PEOPLE HAVE DIED. JIMMY LAI ACCUSES CHINA OF ARRESTING HIM ON TRUMPED UP CHARGES. IN AN INTERVIEW, HE PUSHED BACK AGAINST THE SWEEPING NATIONAL SECURITY LEGISLATION. > > BEFORE ANY EVIDENCE, IT IS PRESUMED I AM GUILTY. THIS IS NOT THE WAY THE LAW IS. I SHOULD BE PRESUMED INNOCENT. THAT IS ONE THING I CAN SAY FROM THE STATEMENT THEY MADE IS WE HAVE NEVER SUPPORTED INDEPENDENCE OF HONG KONG. MARK: HE SAYS THE NEW LAW CURTAILED THE PRO-DEMOCRACY MOVEMENT BUT SUPPORTERS WOULD FIND NEW WAYS TO BACK THE CAUSE. GLOBAL NEWS 24 HOURS A DAY ON AIR AND ON QUICKTAKE BY BLOOMBERG, POWERED BY MORE THAN 2700 JOURNALISTS AND ANALYSTS IN MORE THAN 120 COUNTRIES. I MARK CRUMPTON. THIS IS BLOOMBERG. > > PRIMARY NETANYAHU IS A VISIONARY LEADER. HE UNDERSTANDS WHAT IT MEANS TO LEAD THE ISRAELI PEOPLE, BUT HE UNDERSTANDS WHAT IS CRITICAL TO ISRAEL'S SECURITY AND ECONOMY. RIGHT NOW, HE BELIEVES IT IS MUCH MORE IMPORTANT TO STRENGTHEN THEIR RELATIONSHIP WITH THE UNITED ARAB EMIRATES AND OTHER REGIONAL ARAB COUNTRIES TO FIGURE OUT HOW WE CAN CREATE THAT CROSS POLLINATION BETWEEN THE POPULATION AND BY DOING THAT, I THINK YOU WILL MAKE HIS REAL SAFER. > > I WAS SPEAKING WITH A PREVIOUS ADMINISTRATION OFFICIAL HERE AT THE WHITE HOUSE AND HE NOTED THERE HAD BEEN SOME OPTIMISM, SOME HOPES AS FAR AS HOW PALESTINIANS AND ISRAELIS WERE WORKING TOGETHER ON COVID-19. NOT ALL THE WAY, BUT SOME AREAS, ESPECIALLY HOW THE ECONOMIC SITUATION BECAUSE OF THE PANDEMIC AND MEDICAL SITUATION IN ISRAEL AND PALESTINE HAS FORCED THEM TO LOOK AT THING REGARDING WATER, CYBERSECURITY AND TECHNOLOGY. HOWEVER, THE PALESTINIANS REALLY DENOUNCE THIS DEAL. AT WHAT POINT DO YOU HAVE TO PUT ADDITIONAL PRESSURE ON PALESTINE TO GET THEM TO BROKER THAT ISRAEL PALESTINE DEAL? > > WE DON'T WANT TO PRESSURE THE PALESTINIAN PEOPLE. PEOPLE HAVE SEEN A LOT OF THE APPROACHES HAVEN'T WORKED. THEY WANT BETTER LIVES FOR THEIR CHILDREN. THEY WANT SECURITY AND ECONOMIC OPPORTUNITY. PEOPLE ARE TIRED OF CONFLICT, TIRED OF THE MIDDLE EAST THAT HAS HAD PROBLEM AFTER PROBLEM AND PRESIDENT TRUMP HAS RECOGNIZE THE REALITIES ON THE GROUND AND TRIED TO SHORT THEM OUT -- TRIED TO SORT THEM OUT. WE GOT ISRAEL TO AGREE TO A PALESTINIAN STATE. WE GOT ISRAEL TO AGREE TO POTENTIAL BORDERS AND WE CREATED A CONFERENCE WHERE THE INTERNATIONAL COMMUNITY CAME TOGETHER AND ENDORSED OUR PLAN TO PROVIDE $50 BILLION AND CREATE A MILLION NEW JOBS AND HELP HAVE A BETTER QUALITY OF LIFE. SO WHEN YOU SEE THE ANNOUNCEMENT AND DISAGREEMENT, THE ISRAELI PEOPLE AND PALESTINIAN PEOPLE ARE CLOSER TOGETHER THAN THE PALESTINIAN LEADER IS. OUR HOPE IS THE PALESTINIAN LEADERSHIP WILL SEE THEY HAVE SO MUCH MORE TO GAIN BY ENGAGING AND RESOLVING THESE LONG-STANDING CONFLICTS THAN PUTTING OUT THE STATEMENTS THAT QUITE FRANKLY HAS NOT BROUGHT PROGRESS TO THEIR PEOPLE. > > FROM A GEOPOLITICAL SENSE, EMMA KRATZ HAVE BEEN CAMPAIGNING SAYING THEY WOULD REJOIN THE IRAN DEAL. SENATOR, LET HARRIS WHO IS THE RUNNING MATE FOR THE ASSUMPTIVE NOMINEE SAYS SHE WANTS TO REJOIN THE IRAN DEAL. EMMA KRATZ A COALITION BUILDING IS A CONTRAST TO THE FOREIGN POLICY STRATEGY OF THIS ADMINISTRATION. HOW IMPORTANT OF A ROLE DID IRAN PLAY AND WHAT IS YOUR RESPONSE TO THAT THE IRAN DEAL WOULD RESTORE SOME ALLIES? > > I THINK AMERICANS ARE SMART AND ONE OF THE REASONS PEOPLE ELECTED DONALD TRUMP WAS PEOPLE WERE TIRED OF THEIR POLITICIANS MAKING STUPID DEALS. THAT PUT IRAN ON A GLIDE PATH TO NUCLEAR WEAPONS AND THEY USE THE MONEY TO FUND TERROR. THE DAY THEY SIGNED THE AGREEMENTS, THEY WERE CHANTING DEATH TO AMERICA AND DEATH TO ISRAEL. I'M NOT SURE WHAT THAT CAUSED OTHER THAN ANTAGONIZING EVERYONE ALL OVER THE WORLD. AMERICA MADE TERRIBLE TRADE DEALS. RESIDENT TRUMP HAS CHANGED ALL THAT. PRESIDENT TRUMP HAS TRIED TO END THE WAR IN AFGHANISTAN. HE WANTS TO REBUILD AMERICAN CITIES. HE DOESN'T WANT TO REBUILD OTHER NATIONS AND I THINK PRESIDENT TRUMP, AS YOU HAVE SEEN, HE -- THEY HAVE SAID HE'S GOING TO CAUSE WAR AND ISOLATE AND THAT HAS NOT BEEN THE CASE. HE HAS DONE THINGS THE ADMINISTRATION BEFORE HAS NOT BEEN ABLE TO ACCOMPLISH. YOU HAVE TO SEPARATE THE MEDIA AND POLITICAL JOB LINKS. HE'S NOT AFRAID TO SAY WHAT HE THINKS AND HE BRINGS RESULT AND THAT'S WHAT THE AMERICAN PEOPLE WANT. RAY THE IRAN DEAL ON THE OLD TERMS WOULD BE CATASTROPHIC FOR AMERICA, CATASTROPHIC FOR ISRAEL, CATASTROPHIC FOR THE WHOLE REGION. THE VISION OF WHAT IRAN WANTS TO SEE IS NOT CONSISTENT WITH AMERICA'S INTEREST. ROMAINE: THAT WAS SENIOR ADVISOR TO PRESIDENT TRUMP, JARED KUSHNER. LET'S GET BACK TO WHAT'S GOING ON IN THE MARKETS BECAUSE TODAY IS THE BLIND FOR THOSE BIG HEDGE FUNDS TO GET THEIR FILINGS IN, WHERE WE GET A PEEK AS TO WHAT THEY BOUGHT AND WHAT THEY SOLD IN THE SECOND QUARTER. ABIGAIL DOOLITTLE STANDING BY. IT WAS A PRETTY BUSY QUARTER FOR BERKSHIRE AND APPALOOSA. ABIGAIL: THE BIG HEADLINES TYPICALLY DO GO TO WARREN BUFFETT. WHAT WE ARE LOOKING AT IS BERKSHIRE HATHAWAY GREATLY PAIRING THEIR STAKES IN THE FINANCIAL COMPANY. THEY'VE EXITED GOLDMAN SACHS, PERHAPS MORE INTERESTING FOR GOLD BUGS, THEY HAVE TAKEN OUT A 406 HE 3 MILLION STAKE IN BARRICK GOLD. AFTER GOLD'S WORST WEEK IN FIVE MONTHS, IT WILL BE INTERESTING TO SEE IF THAT STAKE IN BARRICK GOLD POPS, THAT GOLD MINER PERHAPS A TELL FOR THE GOLD BOWLS THAT WARREN BUFFETT IS SEEING SOMETHING HE LIKES. TYPICALLY, THAT WILL RELY ON THE PRICE OF BULLION. VIKING GLOBAL AMERICA, THEY ARE CARRYING TESTS. THEY'VE BOOSTED THEIR STAY-AT-HOME STOCKS. ZOOM, THIS YEAR IS ALL ABOUT THE ROBINHOOD TRADER AND IF WE GO TO THE TERMINAL, THE ROBINHOOD TRADER IS STILL GETTING THE PROFESSIONAL SINCE THE MARCH LOWS. A LITTLE MORE THAN 60% AND THE S & P 500 REALLY UNBELIEVABLE AS THE MARCH LOWS UP 50%. TAYLOR: IT IS INTERESTING THAT THEIR NEW PROPOSALS RAISE THE THRESHOLD THAT YOU HAVE TO REPORT YOUR HOLDINGS FROM 100 MILLION TO 3.5 BILLION. > > IT IS GOING TO BE INTERESTING. THE SEC PROPOSED THIS IN JULY. $3.5 BILLION UP FROM $100 MILLION. THIS IS THE FIRST -- THIS IS THAT -- I SHOULD SAY THE THREE POINT $5 BILLION IS EQUIVALENT TO THE $100 MILLION, BUT IT TARGETS THE LARGER INVESTORS OUT THERE. WE ARE GOING TO LOSE A LOT OF VISIBILITY INTO WHAT SOME OF THE SMALLER INVESTORS ARE DOING, HEALTH CARE, TECH IS IN THE MIDDLE, UTILITIES, THOSE LARGE-CAP COMPANIES THE LEAST AFFECTED AND RELATIVE TO INVEST IN STYLE ALTERNATIVE, THAT'S WHERE WE ARE GOING TO LOSE THE GREATEST AMOUNT OF VISIBILITY AND IT WILL BE INTERESTING TO SEE WHERE THAT GOES AND IT COULD CREATE A NEW FILING TIME. BUT THEY WILL CLEARLY BE ABOVE THAT THRESHOLD AND STILL BE IN THE HEADLINES. CAROLINE: ABIGAIL DOOLITTLE, WE THANK YOU. CAROLINE: THE PANDEMIC IS CAUSING AN UNPRECEDENTED CHILDCARE CROSS -- CRISIS IN THE NIGHT STATES. AS DAYCARE SHUT THEIR DOORS, PARENTS ARE LEFT TO FIGURE OUT HOW TO DO THEIR JOBS WITH THEIR KIDS LITERALLY UNDERFOOT. BANK OF AMERICA SAYS IT HAS A PLAN TO HELP ITS EMPLOYEES. JOINING US IS THE HEAD OF HR AT THE BANK. TALK TO US ABOUT WHAT YOU ARE EXTENDING. IT CAUGHT MY EYE, THE AMOUNT YOU ARE GIVING YOUR WORKERS AT THE MOMENT TO TRY AND FIND SOME SORT OF BALANCE. SHERI: THANK YOU FOR HAVING ME. JUST LIKE YOU SAID, AS WE GO THROUGH THIS HEALTH CRISIS, WE ARE TRYING TO ENSURE WE DON'T HAVE A CHILDCARE CRISIS AND OUR EMPLOYEES NEED SUPPORT SO THEY CAN SERVE OUR CUSTOMERS AND CLIENTS EVERYDAY. WE HAVE PROVIDED OVER A MILLION DAYS OF CARE SO FAR, ACCOUNTING FOR MORE THAN 100 MILLION DOLLARS IN REIMBURSEMENTS TO OUR EMPLOYEES. THAT PROGRAM WAS SCHEDULED TO END ON AUGUST 15. SO STARTING NEXT WEEK, WE MADE THE DECISION UNDER BRIAN'S LEADERSHIP TO EXTEND TO ELIGIBLE EMPLOYEES, DAILY CHILDCARE REIMBURSEMENTS OF $75 OR $100 DEPENDING ON THEIR COMPENSATION THRESHOLD. THAT IS SO TEAMMATES CAN CONTINUE TO HIRE THEIR OWN CHILDCARE, THEY CAN HIRE FRIENDS OR TRUSTED CAREGIVERS, MAY BE SOMEONE WHO WORKED AT A CHILDCARE CENTER THAT ISN'T OPEN RIGHT NOW WHILE THEY ARE WORKING AT HOME OR IN THE OFFICE. THAT IS FOR CHILDREN UP TO 12 AS WELL AS IF YOU HAVE A CHILD WITH SPECIAL NEEDS, UP TO 21. WE THOUGHT THAT WAS IMPORTANT TO EXTEND THAT MONETARY BENEFIT TO THE MAJORITY OF OUR TEAMMATES SO THEY CAN DO WHAT THEY NEED TO DO TO HELP US MEET OUR CUSTOMERS NEEDS. ROMAINE: OBVIOUSLY THERE'S A LOT OF CONCERN. TELL US ABOUT HOW LONG THIS MAY DRAG ON ANDY AND BALANCE THAT EXISTS FOR THE PARENTS ARE NOW TRYING TO JUGGLE CHILDCARE NEEDS WITH THEIR OWN CAREERS. WHAT ARE YOU HEARING FROM YOUR EMPLOYEES WITH REGARDS TO WHAT THEY ARE ASKING YOU AND YOUR COMPANY TO DO TO HELP THEM BRIDGE THE GAP TO WHENEVER THE GAP FINALLY CLOSES. SHERI: WE EXTENDED THE BENEFIT UNTIL THE END OF THE YEAR. WE ARE TAKING THIS IN PHASES. WE THINK THE FALL IS GOING TO BE PRETTY CHAOTIC AND SO WE'VE EXTENDED THAT MONETARY BENEFIT, BUT WE ALSO TALKED TO OUR PARENT AND CAREGIVER NETWORK, WHICH IS ABOUT 10,000 OF OUR TEAMMATES AND SAID WHAT ELSE DO YOU NEED? OUTSIDE OF THE MONETARY SUPPORT, IT FELL INTO THREE CATEGORIES. ONE WAS ACCESS TO CHILD CARE AND SUPERVISION, SO WORKING WITH RIGHT HORIZONS, WE SECURED PRIORITY ACCESS TO CARE WHERE IT IS AVAILABLE. BUT FOR SCHOOL-AGED CHILDREN, ACCESSING LEARNING HUBS, WHETHER IT IS SYLVAN LEARNING, DISTANCE LEARNING, WE ARE TRYING TO BRIDGE THE GAP WE KNOW IS GOING TO BE CHALLENGING. THE SECOND THING IS JUST CONTINUING TO PROVIDE RESOURCES FOR CHILDREN KNOWING IT'S GOING TO BE A VARIED ENVIRONMENT. FOR SCHOOL-AGED CHILDREN, JUST PROVIDING ADDITIONAL EDUCATIONAL RESOURCES. WE HAVE A PARTNERSHIP WITH KHAN ACADEMY AND WE ARE GOING TO EXPAND SOME OF OUR OWN TRAINING AND DEVELOPMENT OPPORTUNITIES WE DO FOR OUR OWN TEAM. WE ARE GOING TO CALL IT BANK OF AMERICA JUNIOR ACADEMY. WE WILL BE PROVIDING AFTERSCHOOL CONTENT AS WELL. THE LAST THING WAS EDUCATION. I HAD ONE OF MY OWN TEAM SAY I NEED A PHD TO FIGURE OUT WHEN MY KIDS ARE GOING TO SCHOOL IN THE FALL. WE'VE BEEN RUNNING SEMINARS AND WORKING WITH EDUCATION EXPERTS TO HELP OUR WORKING PARENTS UNDERSTAND EXACTLY WHAT THEY ARE DEALING WITH AND KNOWING IT'S GOING TO BE A FLUID SITUATION. TAYLOR: BANK OF AMERICA -- IT'S GREAT YOU HAVE THESE RESOURCES AND FLEXIBILITY. GIVEN YOUR EXPERIENCE WITH HR AND YOU MENTIONED CON ACADEMY FOR ONE, HOW DO YOU RECOMMEND SMALLER FIRMS WHO DON'T HAVE THE RESOURCES TO GIVE 75 OR $100, WHAT ARE SOME IDEAS TO NAVIGATE THIS CRISIS? SHERI: I THINK REALLY BEING CREATIVE, THINKING ABOUT WHAT ARE THE ONLINE RESOURCES THAT ARE AVAILABLE THAT CAN HELP WITH TUTORING, THINKING ABOUT HOW TO ORGANIZE CARE. WHILE WE WOULD LOVE TO GO BACK TO MORE FORMAL WAYS AND IN CENTER CARE, THAT'S GOING TO BE POSSIBLE IN SOME PARTS OF OUR COUNTRY AND IT'S NOT GOING TO BE POSSIBLE IN OTHER WAYS. INKING ABOUT WAYS TO HIRE COLLEGE STUDENTS THAT ARE TAKING A GAP YEAR. REALLY TRYING TO GET CREATIVE. YOU HAVE TO THINK ABOUT HOW YOU HELP TO THE BEST OF YOUR ABILITY. WHAT'S THE ACCESS AND HOW DO YOU GET CREATIVE THERE? WHATEVER YOU DO TO HELP YOUR PARENTS IN THE EDUCATION COMPONENT. NO MATTER HOW BIG OR SMALL YOU ARE, YOU CAN REALLY HELP SUPPORT YOUR TEAMMATES WITH. CAROLINE: THANKS FOR TAKING A MOMENT OUT OF YOUR DIZZY DAY. NOW, A REMINDER TO SUBSCRIBE TO OUR PODCAST. YOU WILL FIND IT THE BEST CONTENT TO ENJOY OVER THE WEEKEND. IT'S AVAILABLE WHEREVER YOU LISTEN AND WE URGE YOU TO LISTEN. TAKE A TIME OUT. TAYLOR: AND STAY WITH US. YOU ARE HOSTING BLOOMBERG TECHNOLOGY. WHAT IS YOUR KEY THEME FOR THE NEXT HOUR? CAROLINE: WE ARE GOING TO BE TALKING ALL THINGS CHINA, TIKTOK AND THE NEW UNVEILING OF A FACEBOOK PRODUCT WHERE YOU CAN DO YOGA AND PAY THE INSTRUCTOR SHOULDN'T -- PAY THE INSTRUCTOR ONLINE. ROMAINE: ARE YOU MOONLIGHTING ON US AGAIN? EVERYONE IS MOONLIGHTING. HAVE A GREAT EVENING. HAVE A GREAT WEEKEND. THIS IS BLOOMBERG.

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'What'd You Miss?' Full Show (08/14/20)

Caroline Hyde, Romaine Bostick & Taylor Riggs bring you the latest news and analysis after the closing bell on Wall Street. Today's show tackles U.S. retail sales and postponing China trade talks Guests Today: Mark Cohen of Columbia University, Michael Hirson of Eurasia Group, Sheri Bronstein of Bank of America. (Source: Bloomberg_TV)

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