Themselves the eurozone as a ruler is not doing well. In germany, the growth is less than it is outside the eurozone. Matt not just any french economist. Grease cut a deal two months ago with european officials to get a 7. 5 billion more. Alexis tsipras is offering stocks in Hong Kong Hit a sevenyear high today. Investors from china power to the surge. Mainland authorities recently made it easier for investors to use a link with a hong kong exchange. Oil prices are slipping again after a government report of inventories far as he did far exceeded estimates. There is a new boss in the business today. Petro china is the worlds Biggest Energy company. Its market value is 333 billion. The jury that convicted the Boston Marathon bomber now must decide whether he will die for his crimes. He has been found guilty on all 30 counts against him for the attack two years ago. He faces one of just two outcomes life in prison or the Death Penalty. The governor of massachusetts knows what his decision would be but says it is not up to him. Last year, for a crime like this, i would support the Death Penalty and i continue to but this is a decision that gets made by the jury. Matt three People Killed and 260 injured by the bomb. The jurors would have to vote unanimously to give him the Death Penalty. Some of the worlds best golfers are in georgia today for the Masters Tournament. An old master already stole the headlines. Jack nicklaus with his first holeinone on the course. The golden bear is the alltime masters champ. He has won it six times and he is from Upper Arlington in the great state of ohio. Policymakers were divided over whether they would raise Interest Rates in june. The march meeting took place before the disappointing jobs report last week which i did only one or 26,000 jobs. Added only 126,000 jobs. How much do you think the minutes how much less important are they since they did not know the jobs number when they made this minutes . They are a bit on the stale side. We had a lot of data since that meeting. It very disappointing goods report. The data may be a bit outdated we. We heard from them on multiple occasions. They had a chance to refine that message and that refined message is more dovish and more hesitant. The april fed is more cautious than the march bed. Matt is an janet yellen historically dovish . When you see in the minutes that several participants were in favor of moving in june, it sounds like june is on the table. Maybe they should air on the side of waiting until the second half of the year. We have this disappointing firstquarter growth number coming out they will wait and see what the snapback is in q2. We should get some rebound. The question is, how much. Matt the fed putting it off is not unexpected. We had some smart economists and some of the more extreme economists who said they will not raise rates at all this year. It depends on that rebound in the second or third quarter. Matt doesnt it seem like the fed may go to lengths to make sure that data does not push them to raise rates . Using their dovish bend to see the data differently. We are already seeing signs of that. Increased sensitivity to the ramifications of the dollar appreciation. We hear the fed talking about the export sector. We saw them talking about the passthrough into import prices and inflation. What we are not hearing it is the impact on the domestic economy from a flood of cheap imports. We are starting to see more hints of that. The move in the dollar todate we have to watch whats happening in the Manufacturing Sector in particular to gauge if they will be willing to move. The second point here is they are going to try to sell this as a one and done type of policy move. If they can sell that to the financial market, they could easily push on rates earlier this year with the broader telegraph message we will not continue into an aggressive rate tightening cycle. Matt Financial Markets are the boss in the end. Thank you so much. We will shift over to m a right now. The spending spree that shows no sign of slowing down. Its board will continue the 20 billion offer to buy the drugmaker. Sending a letter on april 6 to the ceo proposing a deal. It would be the thirdlargest between they have made a compelling argument. What could be the outcome . Their shares ran up a lot yesterday. They have made a compelling case, they talked about combining these two companies, you would have some good synergies. They had not given any particular details because its an initial offer. Whats really interesting if you read through the language of the letter that was sent it said again and again, five mentions that weve held private discussions and this reflects our shared vision. We have sat down and both recognize this deal makes sense. Its come to the table and talk about it. It would be interesting to see how perrigo response. Matt will we see other drugmakers respond . Has this jolted other drugmakers into a bidding war . Evra is an interesting one. Are they potentially a bid der for mylan . Maybe they thought they would become a target themselves. Teva is in a strange position right now. There is pressure on it to do a deal. It is not made any indication that it will step in. Matt what are we learning from this whirlwind of deals we have seen . Just this week, we have seen over 100 billion in deals. We got to one of billion dollars yesterday before lunch. Thats 100 billion yesterday before lunch. It has never been a better time to do m a. The conditions now, everything is pointing in the right direction. Variability of debt shareholders rewarding every deal that gets announced on the buy side and sell side. The interesting thing is whether the premiums can continue. They have gone up and up. This deal is a small premium relative to what weve seen. That is very unusual and probably longterm unsustainable. Matt in the short term, a lot of people making a lot of money. Thank you so much. On global politics, less than a month until the u. K. Election. The labour party is just ahead of David Camerons conservative party. Camerons promise to hold a referendum on membership of the European Union if he wins we saw some big names weigh in on the issue. Leaving the eu would hurt britain more than the continent. In case britain decides to exit, many people would react by saying too bad for them. In the end the hurt will be felt by britain, not the continent. Matt mark mobius thought he its better if the u. K. Left. A lot of the problems with greece and other countries would be more easily solved. Matt a recent poll shows support for eu membership at a record high. Targeting the right customer at the right time. We will speak with the ceo of rentrak about the new art and science of capturing sling swing shoppers and swing voters. Jamie dimon ways in. Weighs in. Matt here is a look at our top story this morning. J. P. Morgan chase head jamie dimon cautioning shareholders about u. S. Treasurys. Best years volatility was a warning shot to investors and the next on angel crisis could be made worse by a shortage of securities. Pointing to a look big gyration struggling mobile games maker zynga turning to its founder, resuming the role of ceo. Zynga once led the market for games played on social media. Samsung is putting its hopes in a pair of galaxy s six smart phones. They will debut tomorrow at. Analysts say shipments could reach 55 million this year. In South Carolina, the white police opposite cards with murder in the shooting of an unarmed black man has been fired. The video shows michaels leg or firing eight shots at walter scott. He is being held without bond and the mayor of North Charleston is ordering all the citys Police Officers to wear body cameras. Coming up Roger Crandall on how the insurer is dealing with people leaving longer the 1 million car trend. Why automakers are producing these super highend vehicles. Thank goodness they are. Cadillac relying on a bmw vet to lead the brand in a new direction. Even though the new ct6 sedan has a sporty ride and handling many luxury buyers dont know it yet. Cadillac is pairing up the advertising tearing up the advertising strip with its latest campaign. Cadillacs new message to auto shoppers is dont be a cliche by a cts or ct6. There is real Science Behind the campaign. The automaker is leaning on experts like our next guest. Bill livek the ceo of rentrak is here. Inc. You joining us. Thank you for joining us. All the major automakers are using data from you guys in order to tailor not only where their messages are shown or played, but how. And what kind of message to use. Bill think about it. Car information, political information, the products we use and buy every day theres big databases. There is nothing more important than a car purchase we know when the lease is about to expire and we know that after five or six years someone is in the purchase cycle. Matt i hate to disturb you but linkedin is making a purchase of a Company Called lynda. Com. Breaking news. Scarlet its an Online Learning company targeted towards educational professionals and anyone looking for a job. This is a 1. 5 billion deal, cash and stock. 52 cash, 48 stock. I was just looking on the bloomberg terminal here historically, linkedin has made 12 acquisitions. This will be number 13. The next biggest purchase so far is 175 million back in july of 2014. These tend to be smaller purchases. Matt this kind of environment come if we break and for every 1. 5 billion deal you will never be able to finish a sentence. M a is on fire this week. Lets get back to big data. Companies are using your data to tailor acquisitions as well. Lets stick to advertising for a moment. What can managers learn from what you give them . How can they swing a buyer from a bmw to cadillac . Bill its all about impression. We dont know what we need until we see it. Going from cars to an iphone or the apple watch, no one wakes up in the morning and says i need a watch that will send me my texts. When you see the beautiful you say, i want one. Similar with cars. You decide what you will buy years in advance of making the purchase. Back to the deals being done left and right, they are being done because we are in a low gdp growth environment. Anyway you cut it, ceos wake up every morning try to figure out how to cut the cost of retaining a customer and cut the cost of getting a new customer. These databases teeter to that insatiable need right now. Similar in politics. You are a swing voter. A lot more will be spent in this next election cycle. Focused on probably 1415 states around the swing voter. Databases with publicly available records merged in a privacy compliant way with the types of Television Shows that the swing voter watches the candidates end up buying more broadly and more precisely. Matt we can see that the future of big data is bright because there are so many different businesses you can use this kind of data four. Thank you for joining us. Bill livek ceo of rentrak. Life insurers have been feeling the heat from low Interest Rates. We will ask the ceo of mac mutual how he is adapting and what is next or his company. For his company. Matt you are watching in the loop live on Bloomberg Television. Life insurers have been feeling pressured by low Interest Rates. Thanks to consistently lower rates, the group trailed the s p 500 last year. For more perspective, i want to bring in Roger Crandall, ceo of massmutual. Thank you so much for spending some time with us. Let me ask about how you attack the low Interest Rate environment. You need to make money for your shareholders. You also have to think pretty long term. Roger we dont have to make money for shareholders. We are a mutual company. Which is huge government as we can think about a longterm product in a longterm way. Her oldest group of policyholders has been with the grou company 90 plus years. We try to make sure that we build in the expected margin, if you will. That means taking some credit risk. It also means taking some illiquidity risk. The environment puts pressure on everybody and it means you need to be focused on efficiency. Matt no shareholders to appease but you have to run your business. Credit risk a lot of Money Managers now are going to alternative investments. How far out are you willing to go on the risk spectrum . Roger 85 of our portfolio is things like timber infrastructure. We add some value that way. For us, credit risk means do i get paid back . Where something trades between now and then is less interesting to us. What matters is do we get the cash flows we are expecting so we can pay the benefits to our policyholders. Matt i have to imagine the fact that people are living longer is a double edged sword. Im paying you every month for a lot more years than i was previously. On the other hand, certain products like longterm care are getting more and more expensive. Roger we have mortality risk on the one hand. Longevity risk on the other side. We have both parts of our business. We sell a lot of income annuities. Talk to anybody who had a pension obligation from a city that went bankrupt like detroit. Important for people to save and take care of themselves. Thats a key part of how we think about that risk. Matt i imagine me dying sooner is bad for me and you because you dont get paid and you have to pay roger very few people want to die to sin. Too soon. Matt is this getting more popular . Is it harder to price . The cost of health care is soaring. Roger longterm care has been a real issue for the industry. A lot of the industry has mispriced longterm care. We still offer that product but we have priced at two reflect that it will have more use and we might have thought before and these low Interest Rates mean you cannot earn as much on the reserves. Its a product you have to be careful from issuance standpoint. We created hybrid products to give you access to your Life Insurance policy early for your longterm care needs. Matt we were talking to Roger Crandall. What are you doing to get out there and get new customers . Youve had doubledigit growth in retirement plans and Life Insurance policies. How are you getting those customers . Roger we had 5500 professionals and they do a tremendous job of helping people understand their financial needs and how longterm Care Insurance and annuities can fit into that. That facetoface interaction is important. We are thinking about how we get the Younger Generation a little bit differently. We started the society of grownups to help millennials think about their financial future because there is no replacement for starting growth. It is so important to compound over 60 years than 2040. Matt thank you so much for joining us. Roger crandall ceo up massmutual. Jobless claims are out. Scarlet we saw a pickup in the number of people filing for unemployment benefits. Which is consistent with the week before easter. Read up 281,000, slightly lower than what economists have been looking for. This is an increase from the 267,000 that has now been revised. In terms of the impact on the markets, the minis not doing a whole appeared little changed at the moment. They may have gotten a bit of a leg up. The dollar Index Holding to where it was before 9821. The twoyear yield is lower. Matt thank you. Greece is paid up, for now. The government sent half 1 billion to the imf. Greece was given the money as part of its bailout. It is still asking its neighbors for help. Europe has mishandled the crisis they are mistreating the greeks. They are also mistreating themselves, the euro zone a ruler is not doing well. Even in germany, the growth is less than what it is outside the eurozone. Matt greece cut a deal to months ago with european officials to get 7. 5 billion more. Creditors are not happy with the reforms Alexis Tsipras is offering. Stocks in Hong Kong Hit a sevenyear high today. The index gained 2. 25 weird investors from china powered the surge. Mainland authorities made it easier to use a link with the hong kong exchange. Richard branson still up key about its upbeat about its best bridge and galactic suffered a major setback when its rocket plane broke up in flight, killing one pilot and injuring another. This morning, i met all 500 people working there. Theyre working literally day and night getting the next spaceship finished. They are confident that they are back on track. It will be about a years delay but i still believe emergent galactic has a great future Virgin Galactic has a great feature. Matt 700 customers have already paid for each ride into space on a branson rocket plane. Lloyd blankfein may soon pay off the bank is paying a 7 increase. Blank find cap the focus on trading that, commodities and currencies even though the revenue from the sectors fell in the last five years. Carson blocks Research Firm taking a short position in noble group. Already critical of the Commodity Trading companies finances. Shares still fell the most in the month fish in a month. Luxury vehicles are tearing up the road. Why the uber rich are not content with sixfigure cars anymore as prices had passed the milliondollar mark. Matt welcome back to in the loop. We are 45 minutes away from the start of trading. Scarlet fu is taking a look at the early action this morning. Scarlet we start with zynga. The ceo leading the company after nine months the stock is plunging right now by about 10 in the early going here. The founder and chairman will be returning as ceo. He has lots of other money at stake here. He owns 122,000 class a shares. He also owns 36 million class b shares. They also mention in the release that the First Quarter was a Strong Quarter and they are confident in their outlook. No changes to the financial view for the company. Lets get to some earnings movers walgreens up by 2. 6 even as its forecast for the year may trail analyst estimates. Constellation brands rose eight 8 . Down slightly in the premarket right now. A quick mention of bed bath beyond. The outlook not so great for bed bath beyond. Matt luxury automobile makers such as mercedesbenz and rollsroyce reported their best sales figures recently as demand for luxury vehicles has risen. Those cars with sixfigure price tags pale in comparison to the oneofakind customs made by mclaren, ferrari and porsche. There are a lot of oneofakind custom that go for well over a Million Dollars. We will talk about that with one of my first colleagues, Hannah Elliott from the luxury coverage unit here. You picked out some amazing cars that go for over 1 million. The market is booming right now. ; it is remarkable. Bloomberg has seen billionaires created on a daily basis around the world. For these people, a 1 million car is not a stretch at all. Which creates a huge opportunity for automakers. Roger the major manufacturers matt the major manufacturers like porsche they are making hundreds of these, almost a thousand. Youve got some cars that are really almost one offs here. Hannah this is a lebanese company, the car is more than 3 million. 240 horsepower top speed of 240 miles per hour. They will make six. Matt very rare. You see a lot of one offs created by famous people. I noticed some people talking about Eric Claptons farah errari. You see some wall street guys like clicking house who build their own farah reeserraris. What about the card that the average millionaire can go out and buy . The porsche 918 is an amazing feat and they will make 900 of them. Hannah its a hybrid car. We will see this Technology Used another porsche cars later on. That car starts at under one million. Once you add upgrades and options it pushes the price. The average billionaire will add on his own things. Matt i remember one of the stories you wrote out of geneva about a lamborghini hybrid. Carmakers are finally realizing that hybrid doesnt just mean green. It means a hell of a lot more power. Hannah they discovered this and racing to it when you have a hybrid car, you dont stop as much to refuel. Matt we have pictures, its a hybrid drivetrain. Is the p1 hybrid as well . They all have electric motors and then good oldfashioned internal combustion engines. Hannah exactly. Makes people feel a little bit good. It will definitely continue. Matt there is one car i saw a picture of yesterday, the lines motorcar. Lions motorcar. I love the digital rendering of it. Then i saw the actual model at the car show. It didnt look like it is anywhere near actually being produced. Hannah this is the thing about these very expensive cars. We tried to do a Television Segment with lions before the auto show and they promised us the world. It gets closer and closer to the date and they keep pushing back and back. They wont be ready for it while. These are really tough cars to pull off from a Small Company very difficult to do. It pays to be a little bit skeptical. Matt thanks very much. A great story and a great website, bloomberg pursuits. Is the cloud feeling the check . The growing demand for Digital Payments for business. A fascinating story. Digital currency also getting a boost. Orange is weighing an investment in bitcoin. Stay with us here on in the loop. Matt here is a look at our top stories. President obama condemning therapies aimed at converting young gay or transgender people. Some religious and conservative groups back the practice. The president says he would like to see a banned on the state level. Gm taking a break from the volt. Seven months of unsold inventory the Second Generation of the vehicle is about to enter production. Walgreens says its profits this fiscal year will fall short of estimates. It plans to close 200 stores. Walgreens is the nations largest drugstore chain with 8000 outlets. Orange is looking to invest in bitcoin startups. One of the first Big International carriers to show interest in the Technology Behind the digital currency. Its Underlying Software is attracting investors. Orange Silicon Valley hopes to begin making investments in the coming months. Coming up Tesla Unveils its new was model s. The cheapest model will cost you 75,000 but will have allwheeldrive. We will speak to this link tv ceo sling tv ceo. Some customers were not able to see the games. When is the last time he wrote a check when paying a bill . Consumers have been quick to go paperless, whether adopting online baking or Services Like apple pay. Just 35 of bills are paid by check. That number is much higher when you look at businesses. About 50 . A number of companies are trying to change that by bringing the backoffice online and one of those is bill. Com. Rene lacerte joins me now. I was positively shocked yesterday to read that 50 of businesses are using checks, paper checks. Rene its amazing, when you look at businesses with less than 100 employees its closer to 80 . Our customers have 10 of their payments electronic. 90 are paperbased. Thats what we are here to simplify and get rid of. Matt you work with three of the biggest banks in the country. Im guessing the ship is more at the urging of the banks that of the businesses. Rene its interesting, it dramatically simpler solution is we went out to the markets and got customers from that perspective to that when we went to the banks and said consumers have adopted this, why are you still having businesses pay via check . They say, were right, we need to fix that you are right, we need to fix that. They are saving a lot of money getting paid faster. Lets go get that out to our customers. Matt you have a ton of bigname customers. How fast are you growing . What kind of revenue are you doing now . Rene whats exciting for me is that weve been able to maintain a piece of doubling a revenue pretty much the last four years. To consistently grow at that doubling percentage is great. We will keep working hard to make sure that happens. We have over 600,000 entities from independent contractors to Large Public Companies using us to pay over 20 billion a year. That number grows faster than anything else in our business. They invite more of their vendors and customers in and it creates a lot of synergy, which is great. Matt what does that put you at market value wise . Rene we dont disclose the valuation for a lot of good reasons. We are happy about where we are going. Matt where are you going . An ipo in the near future . Rene i give advice to not think about liquidity, just focus on your customers. Make sure you are delivering simpler solutions. Matt i was surprised by how many customers you already have and then i was thinking how much growth you have ahead of you. 50 of businesses are still using checks. Rene we believe over the next five years, we should be able to keep doubling. The market is huge. Look at the number of businesses in the west, Something Like 20 million businesses in the u. S. Matt how do you keep a hedge on your competitors . Rene the competition for the most part is the filing cabinet and paper. We eliminate paper, eliminate checks. The competition has been around point solutions, just payable or receivable solutions. We combine both. Matt thank you so much for joining us. Rene lacerte from bill. Com. Matt coming up next hour, roger lynch joins us. The streaming service struggled to cope with rising demand. Plus, teslas new model s is fourwheeldrive. Matt welcome back to in the loop. We are 30 minute away from the opening bell and i am matt miller in for betty liu this thursday. Heres a look at our top story to futures indicate stocks will be slightly down at the open. I emphasize slightly. Investors getting a new read on u. S. Economic strength with the jobless claims in the last four weeks the lowest in nearly 15 years. Greece has paid up for now. The debt ridden government sent have a Million Dollars that it was given as a bella but it is still asking neighbors for help. A french Economist Says europe has mishandled the crisis. I think they are mistreating the greeks in europe but also the euro as a rule is not doing well. Matt greece cut a deal to get 7. 5 billion more but creditors are not happy with the prime ministers offer. Lincoln is acquiring an Online Learning business. The price is about 1. 5 billion. California company serves individuals as well as corporate, government, and educational organizations. The officer charged with murder in South Carolina is fired by the police force. Of Michael Michael slager is accused of shooting an unarmed black man in the back. He fired eight shots at walter scott as he runs away. Slager is being held without bond. The mayor of North Charleston is ordering all Police Officers to wear body cameras. Some of the worlds best golfers are in georgia today for the Masters Tournament but an old master already stole the headlines. Jack nicholas playing yesterday in an exit mission. He drained his tee shot at the fourth hole in augusta. It was his first holeinone in nearly 50 years. He is from Upper Arlington. Hey is the best masters champ. I am headed to augusta as soon as the show is over. Such a great move. We are 30 minutes away from the start of trading to lets get you down with a top tech headlines hitting our radar before they built. Leslie picker joins me and Joe Weisenthal joins me now as well. Number 10 is goldman sachs. The reported a 7 increase in the First Quarter. It probably more trading. This is in stark contrast to other banks such as morgan stanley. Leslie looks like the corner of trading and has strong stomach for this since we paying off. Things are looking up for that. It was bound to be possible eventually. Joe it didnt seem like it. Every single quarter, banks are coming out worst that results worse expected than they expected. Now, we will sue the results say. Looks like they are taking advantage of a contrary and move or others were trenching and they appeared likely to benefit. Matt it is game on for zynga for number nine. Ceo don mattrick will leave the company and mark pincus will return to the role as ceo. Sales last or declined 21 from 2013. The committee reported a loss of 226 million. Shares are down 30 over the last year. One of the most visible losers in this space. Joe they had a model early on which was taking advantage of facebook to have people spam all their friends. I remember i was at a party once and someone described to me as this magic money machine. That was probably a red flag that it was not going to last. Indeed it hasnt. It is great that the the old ceos going back but it is hard to find a model that will work. Leslie clearly they need some kind of change. The stock has been hit drastically over the last year but investors today are not seeming to excited about pincus being the silver bullet. Matt is he steve jobs . Probably not. Smartphone wars heat up. Samsung is hoping to get market share against apples iphone. Samsung expects the pair of galaxy s6 smartphones to set sales records. They also expect a man to exceed supply. Could reach 55 million this year. Do you use Android Devices . Joe they seem fine they just never seem quite as good to me as iphone. In addition to getting hit on the high end by iphones, samsung is getting hit on the low end by the cheaper smartphone makers. Samsung probably will sell a lot of these large phones but the longterm future is still a little fuzzy. Leslie switching costs 20 have a cell phone are very high. If i am used to using my iphone for the last six or seven years and now i am looking at the new samsung, i am due for a new phone and this could be a good option but do i have the time to learn a new phone . Matt when simpson was the only one that had a big phone, that was nice. I had a note three for a while and i was psyched about how big it was but then i got over it. Staying in the wireless space number seven is sprint. Its wifi push. It is offering free wifi calling. Is an wifi calling free anyway . Joe it is being facilitated by the carrier now. Matt it wasnt customers a Software Update this month that gives her iphones the ability to make calls when they are within the reach of hotspots or wifi networks. I always make free calls. I think i use at t or verizon because you have facetime. Leslie thats true. You are much more tech seven that i am. I have sprint. Joe remember when minutes were a big thing . I have no idea how many minutes i have. I cant remember the last time i came anywhere close. They roll over. Most people use their phones at this point for data and all the other stuff. It makes sense they are basic. Matt i hate it when people call me. Joe unless it is a family member. It is always my mom leaving a 2. 5 minute voicemail. Im waiting for it to be over, but i love you mom. Matt chevrolets volt is making a bolt. It will hold production to whittle down about seven months of unsold inventory and smooth the way the next generation of the plugin hybrid sedans. The first bolt when on sale in 2010 with high expectations. I love the way it handled and drove but sales were lackluster. Gm sold 70,000 to date and they would probably sell a lot more. Leslie how much of this is marketing . Many people really know what the volt is . Is there knowledge of the on par with tesla or previous . Or pruius . Matt remember they did a test where the battery eventually went on fire . At the time, the ceo did not do any pr to tell people it is a great product. No one bought it. Joe it seems like if you want an electric car, you probably want to get a tesla. If you dont matt teslas 100,000 in change. The volt is much less. I would have been a really great evangelist for the volt. Tesla has a new model coming out. The lowest price you can get in on this now is 75,000. Honestly, if you option that up you will push six figures. We will talk to jamie butters in detroit next. Matt we continue to count on to the opening bell. We are halfway throughs that means it is time for a debug. Number five is tesla. The electric carmaker reported it sold more than 10,000 model s cars in the First Quarter, a 55 from the best 55 increase from the year earlier. Myers will have to pony up more for teslas newest model which is called the model s70d. It starts at 75,000. It has a range of 240 miles and tops out at 140 miles per hour. More range and i am guessing allwheeldrive as well. Jimmy butters from the detroit bureau. Is this an allwheeldrive . Jamie the d is the dual motor allwheeldrive. That was muchhyped last fall. That is where luxury buyers are at least certainly in north america. So many are in the northeast. Even chicago in places like that will we get a lot of snow, we get a lot of bad weather so people really grew up feeling real real rearwheel drive was fun going up but they want the allwheeldrive now. That is where buyers are going and that is where tesla is moving. Matt on a personal aside, i feel like with the right tires, a rearwheel drive car is fine in the winter. That aside consumers wont allwheeldrive. The p85d the most extensive tesla, has 700 horsepower. Willis boost in power also will this boost in power also . Jamie it has extra range. You were talking about the iphones this is just like the iphones. No one buys the iphone with a small is better impossible because they dont want one year from now to have a phone that is find that they cannot run apps on it. That is the same way with the sales of the model s. If they do not buy the 985d they buy the p85. Those who can afford a 75,000 car, they can buy a 100,000 car. Matt let me ask you about the price. We say 75,000 a start. I looked at a tesla on the website myself and i could not get it to be lower than 120,000. I was getting the highest of the 85 at the time but i am guessing this will be the same. When you build your own model, it will not be 75,000. Jamie you are right. You will get some discounts. You will get 7,500 from the federal government depending on where your income falls. You might get local or State Government discounts, but then you will add on options. You will want all the tricks and apps. That will add up tens of thousands to the final price. The thing is that elon musk has been wanting to electrify the personal transportation. Bring us off our addiction to oil. Going higher and higher upscale seems to take it away from that. What is really doing is opening up more space for the model3 coming a couple of years down the road. We hear the price of 35,000 or something in that range but he will will loaded up and it will end up being 50,000 dollars or a 60,000 car. You dont want to see the s keep coming down to where they can sell the 3 for. Matt he has been trying to put out this model x for so long and pushing back the day, i cant remember when it comes out. Jamie the suv is supposed to come in august. They have been consistent with that since november. That is the plan. The cap reaffirming it is coming. The question then is when will we see it . We are through the major auto show season. Tesla sometimes per to space and shows and sometimes they dont but at his but that is not where they show their products. Like apple, they have their own special tesla event. They had an event just to say they are bringing allwheeldrive to their model. We will see another show like that in hawthorne or palo alto. Matt no matter what you want to say about elon musk, he is always interesting and we are always talking about him. Everyone loves talking about tesla. Have you driven one . Jamie just a little bit but it is spectacular. It is awesome. Matt thanks for joining us. We will take a quick break and be back in two minutes with more countdown for the bill. The bell. Matt lets get back to bringing you the most important stories that you need to know before the bell. Leslie picker and Joe Weisenthal join me now. Number four, jp morgan ceo jimmy dimon is not crazy about u. S. Treasury. In fact, he is cautioning shareholders. He said in a letter that lasters volatility was a warning shot to investors in the next financial crisis could be made worse by a shortage of the security. He pointed to a big gyration on october 14. Interesting. You dont usually hear the ceo of a big bank giving this kind of investment advice. Joe it was an equitable morning an incredible warning and a wakeup call. To see that move in such a short time is an indication something might be structurally wrong with the market. Leslie like every financial crisis in history, he blames this on regulation and the consequences such as the vocal role which has restricted the amount of treasuries in circulation. That makes volatility much more likely to occur. My question is once every 3 billion years, how did he get that number . Matt he is a smart guy. Number three, chinese stocks soared yesterday. Hong kongs index and start to a sevenyear high and at stocks hit a sevenyear high. The have been some bears out on chinese stocks recently. Leslie that is my question. Is this. The momentum . Is this purely momentum or is this an International Matt shares we can invest in and mainland . Leslie or do investors think there will be a recovery in china . Jamie there has been an explosion joe there has been an explosion in the stocks in china. Matt plus it is a command economy. When the party wants you to buy stocks, if you dont, they will shoot you so you buy. Thomas piketty became an International Bestseller the absolutely nobody read. He sees a risk and politicians in the European Union forcing greece out of the euro area. I think they are mistreating the greeks in europe but they are also mistreating themselves, which is the euro zone a ruler is not doing well. In germany, the euro is less than matt i dont know which is more interesting, his view on greece or thomas piketty. Amazon looked at bookmarks and son nobody had gotten past page 70. Joe i didnt even start it. I read a few articles about it. I am not surprised he has this view. They have taken the approach the u. S. Has which is more on monetary eating. It doesnt do tends for the economy but stocks and asset prices are skyhigh. Leslie i did not redo book. I dont have it. I did not read the book, i dont have it. Rita page 70 at least. Matt let us get a check to where futures have settled. Not a lot of movement. This has been a trend the last few days. We will take a quick break and be back with our number one story. Matt welcome back to in the loop. Let us get back to bringing you the important stories before the bell. Leslie picker is here with me as well as Joe Weisenthal. Number one story of the day is oil. Crude oil advanced on speculation its biggest decline in two months was excessive. As iran said, it would only agree to curb its Nuclear Program if all trade restrictions are removed. There is a new boss in the business. Petro china is now the worlds Biggest Energy company. Market via eclipse 353 billion. Someone of people were predicting 30 or 20 so many people were predicting 30 or 20 and now it is bounced to 50. Joe the utter collapse people expected it has now been delayed. I dont think anyone can say what has been moving it lately. What the iran deal for oil remains a huge question. There was a massive inventory build yesterday that knocked it down for a bit. Markets move and trying to say what moved it will be tough. Matt how can the iran deal affect the price of oil since it will never happen . Leslie exactly. Maybe thats what it is. People ultimately think the iran deal is overhyped. Matt just because they are negotiating, it will not go through. Right . Joe seems like they have a lot of work to do. Matt it seems terribly unlikely if we say it will knock the price down 15 a barrel. Marcus will open in five seconds markets will open and five seconds. I will bring in brian jacobson. You are coming to us from wisconsin, is that true . Brian that is correct. Matt i am sorry about your loss there. Let me ask you about what you thought. Brian i think fed officials have come out unqualified what they have reflected in the fed minutes in light of the new information. Even though they seem divided over whether or not there should be a june rate hike, keep in mind there were only several participants that wanted a june rate hike. That probably means about four of the participants. When you think about the five Board Members and the 12 regional fed president s, out of the total of what 17, four of them wanted a hike in june. It is not evenly divided. It is more biased to later in the year. Matt you are the second person i heard suggested possibility of an eighth. Why bother at that level . Brian why bother having it at zero to 25 basis points . It is a must a rounding error at these levels as to what the fed funds rate will be. I think one of the reasons i would encourage the fed to consider doing an eighth instead of a full quarter is it would get them off of the zero bound and it would allow them to test some of the other tools to see whether or not they can start increasing the relevant rates for markets. The fed funds target rate really isnt all that relevant to market participants. What matters is what is going on in the commercial paper market and the Treasury Bill market. The rate at these levels do not have a high correlation or it is not tied to the other rates. The fed needs to test some of these tools in realtime that raising their target by that window by about 12. 5 basis points i think would be a really good way to do it. Matt i wondered it sometimes how much an increase matters to the market. Maybe more importantly is how much the market matters to the fed. More and more, i hear fed governors say they will rely on what the market input tells them to do. Is the market boss here . Brian the market always likes to try to push the fed around and he felt like to try to push the market back. It is this big shoving match that sometimes take place. The fed recognizes right now that with their target of the rate, if they raise it, they will not be effective if they will not pull out all the stops. They have a very large Balance Sheet to work with and they need to fully utilize it in order to make sure they start moving rates in the direction they want them to go. That is why i think they probably want to do a june hike of a meager amount just to see whether or not they can. The fed wants to flow a lot of trial balloons out there as far as whether or not they will drop the patient language. They want to see how the market reacts to a lot of this because they know the ultimately it is the market that will dictate the direction of financial conditions and not the fed. Joe what are some surprises we should look out for . Brian i am looking to watch energy. What are some earnings like but also what they are for and guidance. Yesterdays announcement with shell making a big deal it looks like it will be interesting to see what is going on in the Energy Market especially since expectations are so low for earnings will look like. Investors might be pleasantly surprised by how robust some of these earnings can be. Leslie do you think then that the negative sentiment is baked into the stocks or could we see only go up from here . Brian i dont know if it is only up from here by the bias is upward because there is some wish negative sentiment already built into a lot of the earnings expectations. Analyst expectations are typically very optimistic when they start off and then they ratchet it down as earnings season approaches. It creates this environment in which on average, companies typically be expectations beat expectations but i think that number will be better this quarter than it was last quarter. Matt 76 of s p 500 Companies Beat analyst excitations which leads me to believe the analysts are not doing a fantastic job. Brian i dont know if that is that they are not doing a fantastic job it is as far as what they publish. They are typically low and maybe a lot of that is due to the guidance that Companies Give going into earnings season. And when i look at expectations, i shave it a little bit or add to it understanding on average they will be a little pessimistic going into the earnings season. You can easily adjust for it. Matt thanks so much. Thank you very much to Joe Weisenthal and leslie picker. Still ahead, we will hear from sling tvs ceo about their ncaa snafu and a partnership with hbo ahead of the game of thrones premier. Certainly something will we be watching that . You are not a game of those person . Leslie no. Joe neither am i. Matt jack nickless shows how it is done. We are headed down to augusta and a few moments. In one hour, i am heading there literally. Stay with us in the loop. Matt march madness may be over but sling tv is still getting heat after suffering some outages during the final four games. It is now hoping to avoid the same fate when game of thrones premieres on hbo this sunday. Brendan greeley is live with roger, the ceo of sling tv. Brendan let us go straight to you in san francisco. Duke had a pretty good weekend how did your weekend go . I had a busy weekend. We have lots of customers signing up for our service. Brendan can you tell me what happened during the outages . It was a relatively short time during the first game that we had an influx of people signing up at a very high rate and we had to rebalance traffic across some of our partners. Brendan i believe you referred to it as extreme streaming. Roger we knew it was a big event but it was more than we expected. Brendan i want to know where in the network the problem was. Was it software on your end or the last mile provider . When did the problem happened . Roger there are always issues that can happen in the last mile that we cannot control but that was not a last mile problem. We had to shift some load between partners to make the rest of the game work fine. Brendan so it was the backbone of the network . Roger yeah. Brendan was this Technology Ready because this was not the only problem Live Streaming has had. Cbs had problems with the oscars and there were problems with the world cup. Is the Technology Ready . Roger i think it is ready but it is still new. There is a fundamental way the internet is architected and that was not architected for video. Companies like us are always working to improve the way you deliver video over the internet and particular live video. Live is a lot more competent at in delivering ondemand video. Brendan that is a great irony of what you are doing is that once you get events Everyone Wants to watch, the ideal platform is broadcast. There is no limit to the number of rabbit your antennas you can put up so you are competing with an Old Technology that is still more efficient. Roger it is. Broadcast is efficient for watching live events but we all know people really watch very few things live in many things on demand. The things that watch live are very important to them like the oscars, sporting events or game of thrones on sunday night. Brendan lets talk about game of thrones. Are you ready for that . Are you streaming hbo right now . Roger about half an hour ago we went live with hbo. Brendan as of this moment they can leave their Bloomberg Television and watch hbo go . Roger i would never suggest some buddies to leave Bloomberg Television but if they want to they can watch all 40 episodes that have already been shown of game of thrones now and be ready for sunday night. Brendan everyone stick around until the end of this interview before you watch him of thoughts. I want to talk about your target audience. Who is the next marginal customer for this product . Roger we think about three segments we are going after. First are the millenials that have moved out of their homes or into the first apartments out of college. The have broadband and wireless phones but they dont have tv. Brendan i apologize i have to jump in we have the finance minister of greece. Who is ready to speak and i have to throw it back to matt miller. This is a Financial Network after all. Matt thanks. I want to turn out to a special interview on the day greece pledges to make nearly half 1 billion in payments, bloomberg is to speak with yanis varoufakis. Are you there . Looks like we are having technical difficulties with that. Trying to get manus cranny over there. We will take a quick break and be back with the greek finance minister. Matt i want to turn out to an exclusive interview with Yana Spero Farkas with our own manus cranny. Manus thank you very much. We are alive in the gardens of the oecd. You have been here all day. Welcome to bloomberg. Let us get right to it. How confident are you that you will do a deal by april 24 . Yanis very confident. Negotiations are proceeding quite well and our mutual interest is to strike a deal by the 24th and i am sure we will. Manus striking a deal involves trust. Do you trust brussels and germany on equal measure . Do you trust the people you are doing business with . Yanis trust takes a number of steps to build. We have already taken them. We have been in negotiations now for a few weeks. During the negotiations, we have acquainted ourselves to one another. Not to just two parties, it is a complex piece. Im confident the trusts the bonds of trust have strengthened specifically to give rise to an agreement that will help stabilize the greek economy. We will move to the period of reconstruction and of element. Manus that is critical is that people want greece to grow and to get back to surface reduce the unemployment rates. What is on the table at the moment for you that gives you hope you can do a deal that will deliver for the people of greece . Ultimately, that is what you are here to do. Yanis i would put aside the fully i would put it slightly differently. We are in the business of striking a deal for the good of the average european, not just the greek. That creates rights and obligations for everyone involved. We will not succeed as greeks until and unless the eurozone manages to find a mode in which all of us can these because mario draghi put it months ago that europe has to succeed everywhere. Manus your counterpart said you are working for a good scenario. What is a good scenario for you and greece . What are the critical elements of that . Yanis we need to prioritize forms that we have been of the greek state. We need to deal with ill effects of a fiveyear catastrophic recession. That includes loans and broken down circuits of credit. That includes investments public and private. A resolution of longterm sustainable fiscal plan that involves three elements. One has to do with primary so we never fall into primary deficits again. We need a sensible policy for crowding in private investment. From some kind of European Authority are institutions that will help with the process crowding in private and sussman investment and we need a rationalization of the different types of greek debt without any haircuts for everyone. Manus that is the key line. You said you dont want to run taxes anymore, you want greece to run on the surface. The second part of that is if that is the ambition and what you have asked for tentatively at the moment, is that realistic . Lets not use the word haircut because the creditors the want to use it. Yanis we dont want one either. Manus if i said to you we are here 50 years, 60 years, 100 years, where do you need to extend that debt to . What is realistic in terms of extending the debt . Yanis firstly, is it realistic to reach 1. 2, 1. 5 this year . Yes it is. The budget projection has been overshot by 18 or 19 . I think that as long as the negotiations produce a good outcome soon and we have stabilization of the economy and particularly the creation of the appropriate animal spirits as economists say, then yes it is highly reachable. Regarding the debt situation, i think it is essential that we look our creditors in the eye especially citizens of poorer countries and say to them that we want to maximize the value you get back from us. The only way of doing this is if we have an incentive compatibility. If we have parts of the debt swap with gdp index form so that it is clear that the more we grow, the more money our creditors get back, we dont want to elong gate into the future because that would mean a real haircut for our creditors. It is not something we are seeking. It is something we hear being suggested to us as a solution. It is not our preferred solution. We want to pay as much as quickly back. But we can only do this if our payments are linked to our cause. To have smart swaps of reducing debt with instruments that lock in this kind of incentive and compatibility so that when we suggest an investment package from the European Investment bank for the private sector, our fellow european citizens of another countrys have let them a favor realized this is in their interest that this investment takes place so greece grows so they get their money back. Manus a lot of people write about you are looking for this. Your leader has come back from moscow. What is the ambition . Are you turning to moscow . Are you solely and squarely committed to the european idea of sections and you will not break away from the model we have . Where are we in this debate with russia . Yanis i seriously welcome this question because we should be very clear on this. Our financial woes, our bailout fallout, needs to be dealt with family. We are not looking for outside of european solution for what is a european problem. It is a good european family despite our squabbles and disagreements. We have to resolve it within the boundaries of europe. Quite simply, greece needs to maintain good working relations both of the financial and economic level and in terms of broader common interest with a number of countries that fall outside the borders of the eurozone. That includes entries in africa, countries in asia countries in latin america including russia china and so on and so forth. The two are quite separate issues. Greece is not seeking solutions for its problems in terms of relationship with the eurozone outside of the borders of europe. Manus one final question and thank you for taking the time to talk to us. You cleared a number of issues up for us. Our usa party prepared to accept a bit of a political backlash from the people . The risk is, you boys and girls take a bit of a smack from the people of greece if you compromise. Are you ready for that . Yanis we wouldnt be fit for the purpose and we were not prepared to take the political costs which are necessary to stabilize greece. Let me be very precise in this. We are prepared to make also to compromises. We are not prepared to become prized. Manus thank you sir. It has been a pleasure. Thank you very much. We wish you well. When you have something to tell the world, i hope you tell bloomberg. That is the interview of the day so to speak. We have been waiting very patiently. He has delivered. We have heard on some of the biggest issues. Matt this is your second major interview of the day. Earlier, i saw you snagged the french economist. When you think a caddy he would think about what jan is just told you about what yanis just told you . Manus there is a great saying an island that we have just been speaking to the horses mouth. He has an opinion of brussels and germany trying to elbow grease somehow out of the eurozone. Yanis for sockets has made it clear that we are prepared to compromise but we are not wanting to become demised. They want to run surpluses and the want a good economic scenario for that. They are not looking for an extension to the debt. The messages are clear. They also see a resolution within europe. I need to go back and listen to it again but this is not a finance minister that once at this moment in time to do a deal with russia in terms of financing his solution. He wants a solution. Matt manus cranny, thanks so much for snagging two of the most part interviews in Financial News today. You can see his interviews on our website bloomberg. Com. You can see them on your mobile device or stream them anywhere. Breaking news on some m a talks as well. I want to go back to scarlet fu for an update. Scarlet intel has ended talks on their purchase. We spoke to people with intel and altera. They do not respond to reports. We do not have confirmation from the companies but according to people familiar with the matter, discussions have ended. A couple of days ago or a few weeks ago, alter a surged from 34 and change to 44. The stock now is below 40 once again. We are also seeing declines in shares of another programmable chip maker that rallied in sympathy with alter terra on speculation of some m a movement. It is moving higher now in the early trade. Certainly the big moves now are for all terra which is back down 4. 4 and 40 and change them. Certainly off from its highs of 44. We will keep an eye on all these movers for you. Matt what is interesting is you see the acquirer has been going up this week. Intel goes down so shareholders will not see that but some cash to use. Thanks so much. That does it for in the loop today. Tomorrow, our gadget reviewer is back at 8 00 a. M. Eastern. I will now toss to Market Makers. Erik schatzker and stephanie ruhle, take away take it away. Live from bloomberg headquarters in new york this is Market Makers with Erik Schatzker and stephanie ruhle. Erik big oil gets even bigger. Shaells deal may just be the start of it. Stephanie congress is starving the taxman. Lawmakers have slashed the irs budget. That makes it harder to get help and easier to evade taxes. Erik and monica lewinsky, can the star, bill and hillary. We are talking about clintons, the musical