Are economic warfare. The eu has accused jpmorgan and other banks of colluding to rig interbank lending rates. Agricole weret also accused. Taking on the ipad. Microsoft is going to take on the ipad mini. Satya nadella expected to unveil a smaller version of the today with a qualcomm processor. Cory johnson is in new york. If you fail to make an ipad killer, try to make an ipad mini killer . Go small or go home. Microsoft has failed in the marketplace with the surface. The push of a push of a push and are trying to the corporate deals and big sales in a large institution. They are spending a fortune on marketing and getting this out there in the public eye. They are getting Product Placement and every possible tv show they can get it into. To make it seem like people are using it but in reality people are not. Fundamentally is it not a good product . One of the things we see havening is market leaders this experience with certain apps and they want to stay with them. The product has not been as good as the ipass. I would not be surprised if microsoft catches up. Their funds are fantastic but they have not caught on in the u. S. Do they need to do more marketing . What is it that they have to do . A recognize that the biggest change has been a movement away from the desktop to mobile. That is continuing. There is a generation of people who will never really used desktop computers. Microsoft recognizes how important this is and i is why they keep coming out. Having to make their own device because they cannot get a partner. Aware has done well . The places it has done well are nowhere. Really . They have had some Corporate Sales and a couple companies. They have not really gain market share in any geography or any region. I think one of the signal moments was when they decided to put Microsoft Office into ios. They were losing so many users. It is not a very big business for microsoft. What this really is about is making sure the rest of microsoft stays relevant. But they have an offering so the other stuff they do in the cloud and the Enterprise Computing has a foothold. Thank you so much. Great to see you here in new york. Stay with me. Another story i know you will definitely chime in on. Moving and shaking this hour, the founder and ceo of gopro, the maker of Action Sports cameras. They are going public. Daredevils from bikers, used the cameras to take videos. Companyr, woodmans almost doubled sales. They plan to position itself as a Media Company. Woodman founded the company a decade ago and has 49 of the voting power. He does not control the company. Have you met him . I have never met him. I met him at the facebook conference two years ago. He is really sharp and focused on what his business is and how his business works. I did not look at the filing last night but when i talk a year ago they were doing over 200 50 million in annual revenue and i suspect it is more now. Being a Media Company, when i metat a certain building i some of the gopro people. They were not there selling their product, they were there to take video for a company. They were basically creating content for another company. They want to create that content and get that business. The whole world of extreme sports is something they are so wedded into. It leads into other places and they have a shot. The way we consume media is changing so much. We have not been able to confirm that google is talking to another business. Is that gaming . Videogames who want to broadcast their own video game play. It is something that is watched by tens of millions of people. If you are not one of the people you would not know it has exists. Gopro is the same way, in a certain community. We will see more of that. Cory johnson from our bloomberg west editor at large. Russia facing fellow from the westict in crimea as the putin puts sanctions on putins country as the west put sanctions on putins country. Dmitri medvedev sat down with Ryan Chilcote in a bloomberg exclusive. He spoke about the visa and mastercard relationship with russian banks. A great number of our people are used to using foreign Payment Systems, mainly visa and mastercard but also american express. Other Electronic Payment Systems are also widely used. Let me speak about what happened. I will not be focusing on the sanctions and political decisions. We shall consider that an act of parliament or god in anglosaxon law. Ordinary holder of an international bankcard. To be more besides, a russian card issued by a foreign payment system. There are 200 million cards of this type in the country. I do not have a relationship with a foreign state. I have a relationship with the bank that issued my card. It never occurred to me that my payment is dependent on the political stance of a foreign state. I would like to know that in accordance with law, visa and violated client to trust of the Payment Systems. If i am a lawyer, i would have spent my time and effort to take this Payment Systems to court. Thatent you concerned visa and mastercard, as you said were just following orders, in a sense, from the treasury and the u. S. . They could leave the russian market. Like to reiterate that we do not want visa and mastercard to leave russia. Our cooperation has been quite productive. However, i believe that before taking such decisions those companies should have thought about the fact that such actions , responding in such an awkward er to a request for more on this exclusive interview with the russian Prime Minister, Ryan Chilcote joins me now from moscow. Congratulations on getting that exclusive with him. What was your big take away overall from the interview . My big take away was when the Prime Minister said that the current standoff with the west and the u. S. Could lead to another cold war. Those are pretty strong words. We have heard other people characterize the conflict in that way but from that to come from the government is really notable. Considering that Dmitri Medvedev was the president of russia and now Prime Minister. Architect of the socalled reset of russianamerican relations after president bush left office. There is a lot invested in his relationship with president obama. To talk about the idea of another cold war and the idea that, for example not even in the darkest hours of the cuban theile crisis did either u. S. Or the soviet union imposed sanctions against one anothers officials. I found that striking that he sees a real similarity between what is going on now and the battle days of the soviet union. It is remarkable. Weve raised a point about his relationship. President obama has been urging ceos to stay away from russia to stop doing business there. And did he have anything to say about that . He does not like it. He thought that his point was a reminded him of leonid brezhnev, the leader of the whoet union for a period, did things like that and try to politicize trade. He says it is a dead and to Tell Companies to follow in certain ideology. He said it is regrettable that most ceos of u. S. Companies have elected to take the advice from the white house i would not be coming. But the deputy ceos will be there. He said the russians are not going to dramatize the situation and they will deal with whoever they can going forward. You so much. K Ryan Chilcote in moscow with the interview with the russian Prime Minister. Credit suisse is facing punishment from the u. S. The swiss lender pled guilty to helping americans evade taxes, paying 2. 6 billion dollars to end a threeyear probe. For more, jon ferro is in zurich. What are the consequences of this guilty plea . The consequences are twofold. Start with the politics. Scales the big investigators wanted. As for the business, that is the real unknown. One of the consequences of the lt fleet for the day today one of the consequences of the guilty plea for the day to day operations of Credit Suisse. Brady dougan says he does not see a Material Impact on the business. On the client side, that is the hangup. Do any of the clients have internal laws that prohibit them from doing business with an entity that has admitted guilt to a crime . You ask analysts that question and they do not have an answer. This has got a lot of uncertainty. It certainly does. What does this mean for the ceo brady dougan . If brady dougan is going to leave Credit Suisse we will know about it. I sat down within a month ago and asked the question, he batted it away. Going for the message from Credit Suisse is simple case closed, back to business. Outside of the bank the big debate in zurich today that has been for the last six months, could Credit Suisse management have handled this better . Why did ubs settle for less money . Why did ubs settle without a guilty plea . When you listen to the Justice Department and the u. S. Attorney general, it does not give Credit Suisse a ringing endorsement about how they conducted themselves throughout the investigation. Listen to eric holder, he has called this a wideranging conspiracy. Guess what . Expensive maybe, no one at Credit Suisse at the executive level numeral is happening. What happened to oversight . Thank you so much. More on the story. Jon ferro in zurich on Credit Suisse. Coming up, new laws and big deals. A company is now strategizing its peers in health care. Sync crime does not pay . What the real wolf of wall street gets paid for making speeches. An outstanding sum. Stay in the loop, we are just getting started. You are watching in the loop, live on Bloomberg Television. Streaming on your tablet, phone, and bloomberg. Com. Bloomberg is hosting a cfo conference. Looking at the changes in the boiler room. Companies looking to see your photos to fill the top photos. John mulligan was just named the interim ceo of target. There are some famous shakeups. From pepsico to time warner more. Darden, those boards elevating their ceos to the top. The chief Financial Officer of Consulting Firm pricewaterhousecoopers will be speaking at our conference. Great to see you. The role of the cfo changed . Maybe made it even more appropriate to look to that c sition to become the her of the company . The next leader of the company . It has changed. In the first 20 years of my career, the Business Models were not changing at all. Today, with rapid changing scarcity of and the Skilled Labor, we have operating all businessest that are changing. That is forcing the cfo to have a seat at the table with the ceo and really pushing the strategy if a Company Wants to grow. Are the cfo is usually at the forefront of this changing Business Models . Are, the Economic Impacts of those strategy decisions are being impacted by i. T. And talent scarcity. Cfos have to work on the economic changes that are happening because of those issues. I have one theory. We have seen companies have a tough time growing their top line revenue. It has become more important to control costs and to eat cap efficiencies. Maybe that is a reason why cfos are becoming bigger stars . The reality is as we move forward and we see growth of an economic imperative for all companies, what we are really looking at is how the Business Model is changing. Forceghly Skilled Labor that most of us experience is a huge part of what our total yes, hiring is big. Those costs are scarce because of the aging demographics, particularly in the u. S. And in the west. What we need to do is find different ways to both attract that Skilled Workforce and more importantly retain them in a longer term. Those costs involved with people costs are a real challenge and we need to look bad in terms of changing Value Propositions and working towards different models of using unSkilled Labor and Skilled Labor. The cfo is part of working that this is mild to make sure we have a sustainable profit going for. Break that down into regular language for me with a Value Proposition to attract talent. What does that mean . Lets talk about women, for example. Our workforce. The old Business Model for professional services was you joined and you worked hard and there was natural attrition over time and nobody was concerned because you only needed so many partners in an organization. Today, with the growth rates that we have an unlimited numbers of Skilled Laborers coming out of our schools because of our aging demographics in the western world, we want to retain many more of them in order to continue to grow as an organization. To do that we have to not only the market for compensation. Unfortunately, which we do not hontrol and is growing muc faster than revenue. What else can we do to retain women in the workforce . What do you do . We are investing much higher in technology to make the workforce mobile. That allows the workforce to be more flexible. Where they work, anytime, anywhere, anyplace. Putting a much more skilled is that a cost to a company . Is that aom home, cost . It is a cost in investing in technology. The benefit is that you keep employees longerterm and you can get rid of your real estate costs. We do not need to provide as much space for people purely to come to work. What we can do is provide connectivity spaces for people to work together. Thank you so much, carol cfo of Price Waterhouse coopers. Will be speaking at our bloomberg cfo conference. Coming up, your next emergency room visit could be faster and more high tech. The nations Hospital Business is changing. We will talk to one major player, the ceo of tenet healthcare. Plus, stop me if you have heard this. Ban in them mark cu another controversy involving pro basketball referees. Dipping returns in two minutes. You are watching in the loop, live on Bloomberg Television and streaming on your phone and bloomberg. Com. Heres a look at our top headlines. Home depot reported firstquarter earnings and revenue that missed estimates. Winter weather slowed the rebound in housing. The nations largest Home Improvement retailer optimistic about a turnaround, raising its fullyear earnings forecast. Forers 117 billion bid astrazeneca is likely to fail. U. K. Law prohibits the drugmaker from sweetening the offer after declaring it final. Astrazeneca rejected the offer, saying it undervalued it pipeline and presented a risk for shareholders. Sao paulo, brazil was hit by a rare hailstorm weeks before the world cup. They left behind a white coat resembling snow. At the time. Al the city regularly experiences hail in thunderstorms. 26 minutes past the hour, bloomberg is on the markets. Equity futures are pretty much unchanged as we head towards the open. One retailer, tjx just reported firstquarter results, . 64 a share, three cents shy of estimates. Lowering the top and fullyear profit forecast. On the markets again in 30 minutes. One stock that has been outperforming the Broader Market is tenet healthcare. Start of 9 since the this year. The company has been moving beyond hospital operations and diversifying to highermargin businesses. For more on the strategy and the shifting healthcare landscape, ceo Trevor Fetter is joining me. Great to see you. Great to be here. A few days ago you said the deal pipeline, the quality is the best you have ever seen. Big words. This is a very fragmented industry we are in. Largest players only control 1 to 2 of u. S. Hospitals. I cannot think of another industry that is as fragmented. There has been a slow trend over decades where notforprofit hospitals converge to investorowned status. Companies have gotten bigger and bigger. Were seeing a pipeline that is better and of Higher Quality than we have ever seen before. Higher quality by what benchmark . Successful hospitals. There have always been failing hospitals available to be purchased. Now some of the successful ones are wondering how they can survive without being part of a larger system. We have demonstrated over time that there are great economies of scale and great strategic reasons to be part of a larger organization. Me ast does that mean for a patient . Lex could you can expect Higher Quality care with less variation and expect better use of technology. What about pricing . Pricing does not make a difference. We typically are a lower price than our large competitors in the market. Part of that is because we are able to bring economies of scale and operate with lower costs. You made a big acquisition last year, vanguard. With acquisitions for now . There is likely not to be something of that scale. We continue to be active acquirers of other businesses, particularly in our outpatient sector and in our business to Business Services business, Conifer Health solutions. In terms of hospitals probably smaller acquisitions. Vanguard increased our size by 60 . Wow. You mentioned other businesses. Those are highermargin businesses. Tha