If you look at Tech Companies that want to provide all the storage for wall street and financial information, what going on . The fccfcc wants to put together a database of millions of trade so they can look at what is going on in the market. They want to know what causes these flash crashes. You really need the data in a way that you can manipulate it. To do it by hand is incredibly timeconsuming and we need a lot of storage. Amazon and google is bidding for this work. There are a lot of players and wall street against this. In part, they feel like maybe the data on be completely secured. They will have to give it up to some extent. Private prison industry, president obama saying he wanted to reduce the reliance on private prisons. And what this article looks at is how this industry is of changes inight demographics and perception of private prisons. The Justice Department said they might reduce their reliance on companies for prison services. The stock for one of the Companies Went way down. They can diversify and Halfway Houses and other communitybased systems for helping prisoners transition to real life as we know it. Carol there is kind of a freaky merging the head of Prime Minister of canada and donald trump. They are alike in some way . It is a fabulous photo. Its much better when my child merges my photo and hers. It is a little freaky. Its about how both trump and trudeau have used social media. Carol trudeau is really good at it. Social media loves him. Every time he takes off his shirt, which happens on a regular basis compared to most heads of state, hes all over social media. He knows how to use it. Would donald trump do that if he were president . Its an interesting question. Its more apples and oranges at this point. But the story makes the case that this kind of celebrity and can social media virality help a leader govern. From one shirtless head of state to another. It Vladimir Putin sat down in russia for a very long conversation and a rare opportunity. It was two hours in vladivostok. A far ranging conversation in which they talked about everything from the u. S. Election to syria to iraq to disputed japanese islands. It was a pretty major interview and a really great opportunity. It came about because Vladimir Putin had this forum that he wanted to promote and was going to the g20. It is more typical of the new Vladimir Putin. And it was a wide range of topics. There was no prohibitions. You asked about the president ial election and the hacking story. What did he have to say about all this . About her ready he is to engage. He says, we dont care who wins. We are not involved. This is all a rather strange show. And not entirely healthy is the way he pictures it. There is a desire for russia, repeatedly, to be treated as an equal. This is coming from a british theon, they still have hangover of once being a superpower and now being original power. Carol was he reluctant to talk about anything . Questions and will, at different times i asked at choice if i had a between watching the godfather and doctor zhivago. And what would be the better guide . He went on about the russian spirit and the need to understand modern russia. He avoided the question. I said i thought he meant doctor zhivago and he smiled. Hillary clinton has been occasionally been known to avoid questions as well. David theres a bit of endurance involved with this. Was he ready to answer any and all questions . He was ready to not answer every question as you know and thats part of journalism. There is a tendency to think hes particularly bad at that and i dont think that he is, really. And you have the slight delay of a translator so its hard to interrupt. Hes not that used to being challenged on bizarre topics. Carol you did push back on some things. His people said he wanted to be challenged. Which is interesting. He finds it boring if people dont confront him. It is part of his personality. Couple of off the record things and hes probably even more direct. You only have to look at one of them. A picture of david emerging naked on a horse. Personality in this particular interview and other ones, to be fair, he is more relaxed and more cautious if those things dont sound contradictory. He was more open about . Question about the gas problem, the value of it has gone down. He tried to defend it and i said he would be unlikely to keep a general that lost 4 5 of his army and he did smirk a little bit. Combat. You think of the obvious things. Your sense of how he regards the United States . Moment he talked about the relationship between john kerry and his foreign minister. The dialogue seems very robust. He has a sense that he remembers the world when russia met america. Has,ll the dismissals he it is still the core of the way he would like the world to be. It is a little bit like a jilted spouse or a jilted lover. Conversation with creative director robert vargas. David we talked about the coverage. Lets start with the u. S. Cover. Putin. Ait of state, we shoot heads of we want to approach them more as people. Less posed, just catching them in a moment that feels natural and authentic. We felt that this photo actually does that. He was aware of this being shot but he seems to have his guard down a bit. Hes not confronting the camera. Hes not smiling which is default. Carol did it go smoothly . Once we got there, it went smoothly. Wanted to walk off on us, he could walk off on us. We were preparing for the worse. We did not expect the airline to lose the photographers equipment. He found the one lighting set up flood of our stock vladivostok. He did figure it out. The International Cover is ice here. Icier. It is a tone you dont see a lot. Carol did you create the tone afterwards . The photographer created the tone afterwards. As planned. O a little darker than usual. A mixture of doing it in post and a happy accident. We ran with it and the framing is a lot more traditional but color gives it a different feeling. David hospitals give patients a dose of Virtual Reality. Carol dozens of lawsuits challenge the alleged obsession with youth. David and an effort to win a new generation of fans. Carol thats ahead on bloomberg businessweek. Carol welcome back to bloomberg businessweek. David you can also listen to us on the radio in new york. 1200 in boston, 901 fm in washington, d. C. Caroline visited hospitals using vr as a painkiller. It is still in the early stages were they are trying a new technology to see if it can help relieve pain. The theory behind it is that our brain can be distracted. Pain,e think more about we feel more pain. They have seen this in the mri. Basic theory behind using Virtual Reality for pain is basically the same as meditation. We want to take your mind off of pain and transport you elsewhere. David you profile a number of patients. Used toirtual reality help her in treatment . We talked to a teenager who unfortunately was any in a bonfire accident. One of the things they have to for burn patients is basic need take the dead skin off. That is obviously extremely painful. They gave her this virtualreality software called snow world. Using her head and the focus of her eyes, you throw snowballs at penguins. The idea is to take your mind off the pain. During times they would dress her wounds as a distraction. Another patient waiting for a vital organ and the use vr to take this patients mind off of the waiting process. Similarly, he was playing this game which involves throwing balls. Checking it. To be mind off the pain he was experiencing and also to help him hopefully reduce the amount of pain medications he was taking. Elses able to go somewhere because he had been stuck for so long in a hospital room. In a prison cell and away. His hospital room day in and day out. Older workers are fighting ageism. We talk about jobs in Silicon Valley and a lot of people go there often. Multiple jobs. If you are older its a different experience. What did you find out . Is harder to be older and admit that and get a job. You have to pass for younger. David talk about how people are doing that. There is acute awareness of how young people dress and you found young people modeling themselves on this. Thethe uniform uniform is jeans, tshirt, sneakers. Suit orhow up in a baggy trousers, you will look really old. People we met were going to they werets of places interviewing at and checking out the fashion and figuring out, maybe im not going to go for the jeans and tshirt look at i will wear slim fitting khakis and a polo shirt. Carol and it makes a difference . Absolutely. Carol one woman is 50 and she was looking for a job. Wardrobe, talking about the social media she got involved in. She made sure she had a ton of connections on linkedin. She understood what millennials were reading, the music a were listening to. Celebrities they liked. Carol kim kardashian. And superheroes. Of millennial slang, she knew not to mention things like the sound of music. You will be ancient. Youve got to get rid of a lot of references to your favorites when you were growing up. Replace them. She did that. David our companies aware of this . Talking about people being smarter, more ambitious. Young people driving Silicon Valley where it is today. What do companies have to say . Publicly, they say they are age diverse and privately admit they prefer younger people. People tend to hire people like themselves and you have companies out there founded by , andarolds, 22yearolds hiring a 56yearold seems really hard. A lot of older individuals lost jobs after the financial crisis and a feel Like Companies are serving to appreciate the experience Older Workers had and welcoming them back. Theyre helping young people and people from the u. S. College grads, people overseas coming. I dont think they would turn away old people that are qualified but they are not looking for them. Carol , how family connections can muddy is this relationships. David and some call foul on the new soccer stadium. David welcome back to bloomberg businessweek. Carol in the markets and finance section, a bank you may not have heard of. Team youom a soccer may not have heard of for 100 million. Carol we spoke about recent criticism of bank of california. They have been making tons of loans and it has grown tenfold and bought a few Smaller Banks in california. And a bunch of assets from banko poppa largexc z banco popular. Carol the man behind the growth of this bank he was running a hedge fund. He wrote a book called the forewarned investor. How to find fraudulent companies. , onerns out his new bank of the red flags might apply to his own company. Let me ask you about his aspirations for the company. It is still a californiabased bank. He says there is a tradition of midsized banks finding success staying focused on the state. There are billboards around l. A. And made a deal to name a new soccer stadium. Bank, it is a successful right . Have been growing and it has the best Stock Performance of any midsize bank the last couple of years. Hes been doing really well. David you mentioned the red flags and the stadium. This bank signed the deal upwards of 100 million for naming rights to the mls stadium in los angeles and things get thorny . About 100 million. The highest price paid for mls naming rights. This is for the second soccer team. Kind of surprising it would be so valuable. Brother jason is a minority owner of the soccer team. Carol a lot of alarms go off here. How does the bank get to do this . Where is the oversight . They say the brother had no involvement in this deal and anytime they have deals that them falls related parties, independent Board Members look at it and sign off on it. To imagine two brothers wouldnt talk about a deal like this. Especially that the 100 million is more than her eat to 2014 its a lot of money. Is a large amount to spend on advertising. Steve and his brother, its part of a very influential family. Whether anything untoward is happening or not, there are members of that family. The fatherinlaw is a famous movie executives who is the lead owner of the soccer team. And the brother also ran an Asset Management company or consulted for an Asset Management company that the bank acquired. So definitely, their relationships have been big as they grow. Carol there are a lot of cases about these related party deals. What does sugarman say about this . He says the board has vetted it, everything is independently valued, and it was impossible to avoid given his relationships in southern california. Book, he wrote that disclosure does not make the transactions ok and it could be a sign of problems down the road. Oversight,ng of theyve invested a lot of money in the bank itself and there is a relationship there some would see as questionable. Oaktree invested, the bank lent money to oaktree and to tree paid fees subsidiaries of the bank for Asset Management services. Since then, they sold whole steak. Steak. Sold their whole they own a Basketball Team with peter guber, the fatherinlaw of the brother. More people that know each other. David is ask him liable for climate damages . The Ongoing Investigation and controversy. Carol ahead on bloomberg businessweek. [laughter] david welcome back to bloomberg businessweek. Carol we are inside the magazines headquarters in new york city. David what exxon said about Climate Change and why it matters. Carol take a cruise ship through ground zero. David and why some women are bailing on the veil. David were back with the editor in chief with bloomberg businessweek. So many must reads. A look at a Little Hollywood across upon two. London has become in that cap for a lot of people doing animation and special effects work. Big in london. It has been going on for a while. Given all kinds of tax breaks for this work and as a result, a lot of companies doing it on the west coast of the u. S. Have suffered from the closings and they cannot compete with those tax breaks. Now that brexit has happened, it has become an even better place to do special effects. You have a lot of classic hollywood movies Like Star Wars and the special effects are being done in the u. K. Carol there are a couple of moving parts. Lawsuits. A widely popular videogame and then you have cisco systems. Sometimes these problems are caused when there are outages, glitches, not so much by video by the videogame that you are playing or not so much by the Web Hosting Company but by then networking equipment. There was a controversy when a very popular videogame, game of , which is not something i personally have they had some very significant outages and they blamed their Web Hosting Company, peak web. He web tried to figure out what was happening and it was software alex in the networking inipment Software Bugs the networking equipment. By then, it was too late. David a look at saudi arabia. We have heard about that countrys plans for the future in light of the fact that oil has become so cheap. Here, you are looking at social changes underway. There are some. Saudi arabia and women are not permit Saudi Arabian women are not permitted to drive. And yet women are modernizing and they are allowing women to modernize more. Some women have stopped wearing almost allat covers of their face. They are still wearing headscarves. They are wearing more colorful robes. Why that may not seem like a massive change come in saudi arabia it is and it makes it easier for women to work and makes it easier for them to be out in the world. Some people think it is partly because the price of oil has gone down and it is more important for women to be out and working. A major change. Carol there is an interesting story about exxon. Does exxon become the Phillip Morris of climate liability . It is really a fascinating phenomenon. There were some big stories in the l. A. Times and climate news about how exxon scientists had unearthed the threat of Climate Change decades ago and exxon continued to fund organizations that were Climate Change deniers. A developed. New. Onk there were some people saying that exxon could be the new Tobacco Industry where Tobacco Companies word sued the cousin they had known about the health effects. David and suppressed it. It has ballooned into interesting litigation. The basic allegation goes back to the late 1970s. , itsunderstood scientists understood and told top management that manmade Climate Change was real and already affecting the atmosphere. Did not the company adequately disclose this to the public. That is the basic allegation. Carol how did it become known to the public . The most significant one was a nasa scientist who testified in 1988 about Global Warming saying it was real. That resulted in a frontpage New York Times article. Shedicians like al gores light on those kinds of findings. That for more than a decade, exxon had already been doing its own research. And was synthesizing the research eating done by others. Exxon scientists were saying to exxon management that this is what the consensus is among scientists out there. Carol how did it become known that exxon new internally that maybe what they were doing was contributing to Global Warming . Good was basically through shoe leather reporting. The l. A. Times working with an environmental reporting group based at the columbia journalism also inside climate news, an online publication does life is on writing on environmental topics. David you detailed about how surprised exxon was by that reporting. That someone was colluding against them. They reacted as they moleibed in a whack a strategy. They tried to respond to each individual report, sub