He is lobbying the french the ges 17r the billion offer. There was a joint offer by siemens and mitsubishi. For more on this battle between the industrial titans, Matthew Campbell is joining me from london. This is a big day for jeff anelka. A big day for jeff immelt. How much convincing does he have to do . This is absolutely a big day and he has to make his case in paris to the government and the unions. Ge does have the inside track relative to siemens. They have emigrated deal. An agreed deal. Alstom, the target of the transaction, is on board. What siemens was trying to do does not have alstoms agreement, and the noises from the alstom cap is that they see the siemens proposal, which is pretty complex, as being a bit too much try to do and not ideal from their perspective. Jeff immelt has a tough day ahead of him, already underway in paris, of course, but he has some serious advantages. It sounds that way would you say that the simplicity of his proposal, as you were discussing, with the opposing proposal, that gives them the upper hand him the upper hand . Theres the question of simplicity and the question of the value. The siemens side says that their energylues alstoms businesses, which is most of alstom, 2 billion euros more than the ge deal. If you read through the siemens proposal, you can see it getting taken apart again in a couple of years. It involves a number of joint investors, bringing in mitsubishi and hitachi from asia. It is one of those stories where i think the Company Alstom is going to take the sure thing, and the sure thing is ge. The wildcard, of course, is the government. And where do the government, where do they stand now . The government has been an interesting player in all of this. Also, unlike a lot of french companies, is not partly owned by the government. On the other hand, it sells trains and power equipment, and obviously, the french government is a big customer for both of those. Landess hol socialist government is have a role to play here and he and his ministers have not been shy of expressing concerns on jobs and development. But lately theyve backed away from outright endorsing siemens and opposing ge. They seem to say that they won a deal that results in the best outcome for french workers and the french economy, not necessarily a deal from one or other of these 2 buyers. Thank you so much for joining us. Stocks up around the world this hour from here to europe and asia following another record day on wall street, following the latest comments from fed chair janet yellen. Like wiki is here with the real deal on what she said mike mckee is here with the real deal on what she said and why the markets are reacting like this. The fed has been throwing quite a party. Yesterday janet yellen came in and gave the economy a breathalyzer and said that we can leave the punch bowl in place. Theres a lot to like about the economy. No recession on her watch. But will he continue will it continue . They are uncertain about that. 9e used that word Uncertain Times in her press conference. Job growth is pretty good lately , unemployment is going to continue to go down, but it is going down for the wrong reasons could we have people leaving the labor force. Nobody is getting a raise. All of that leads her uncertain. I guess i would say it is important, as emphasized in my own opening statement, for Market Participants to recognize that there is uncertainty about Interest Rates, shortterm rates, will be, and that is necessary because there is uncertainty about what the path of the economy will be. Basically, why they are rallying, she has been saying that rates will stay low for a long time, and investors are finally certain that she believes that. Kind of funny that she says all this complacency on wall street needs to uncertainty. They are certain that she is uncertain. If you look at the median for it. Chart dot charts, does go up for tony 15 and 2016. Look at 2016. It is really the range. They are all over the lot and it suggests that there is no real certainty about where they are going. Also, we have 2 new members day so it coulder be just noise. The low rates are here for a while to come, we are going to party. 2 best selling authors are caught in the crosshairs today, jk rowling and James Pattersons latest titles not available on amazon. Hachette has disrupted the entire book industry. Alix steel is much more on this. How important are these preorders . They are really important. I spoke to one author, douglas preston, on the board of directors of the authors guild, and he says that presales make about a quarter of his overall sales. They are a big driver of getting his books on the vessel a list, and his next novel in august might not even make the list. He and his coauthor are worried about it. Here is why amazon is so important. Hachette fell off the number one spot in the digital book world, amazon has 60 of hachettes market share, with barnes noble away distant second, making the publishes very dependent on amazon. How does amazon have such a lock on this market . Amazon has no problem selling a book below what it paid for, but what is more important to amazon is the ecosystem. Onis a world that focuses sales and not necessarily margins, and it makes it hard for other players to break into it. That is the crux of the fight with hachette. Amazon gets a 30 commission from selling the book and it is allowed at discount of only 30 . Amazon is a Bigger Commission so they can discount more. The other thing is the rise of the tablet. The devices could grow to over thatillion by 2017 and could keep increasing ebook revenue to over 10 billion. Is thee, which secondbiggest publisher in the market, already gets 10 of its total revenue from ebooks. Are thatooks important, what kind of opportunities does this create for competition like apple . If amazon will sell those books, someone is going to be, and it seems to be apple, walmart, and barnes noble. Walmart says that physical book offs have climbed 7 , much hachette writers like patterson. On top five books promoted ibooks all come from hachette. Apples prices today are less than they were even at the beginning of the week. I spoke to someone at Janney Montgomery scott and he said that the company it gives them the chance to win back customers and helps give the retailer a do over, in essence, creating an opportunity for the company. Alix, thank you so much. Bloombergs alix steel. Shaking this hour, tmobile ceo john leger. He didnt want amazon to grab all the headlines about smartphones yesterday so what did he do . He unveiled his latest when. Latest plan. Tmobile will a you test drive apples latest iphone for seven days. He spoke emily chang. A contractor,is International Data roaming, contract freedom him people have artificial barriers in their mind about why it was done the other way. We talked to apple. The way, this is great apple, the awareness level by customers that tmobile has the iphone is very low. This is a chance to testdrive our network, test drive and apple iphone if you have it. Tomorrow the question is going to be for the other guys, why dont you do this . Apple isnt usually one to partner. How did the partnership with apple, abou come about . One of the reasons apple and we are partnering is it is a small update i provide you, emily, tmobile is the fastestgrowing Wireless Company that exists. Way toould like to find be a higher percentage of the business and get the word out. We have very good, strong, evolving partnership with them. Just released its new smartphone, at t the exclusive carrier. You havent been shy as usual about your thoughts, saying that amazon does not know what sign up for what sign up for. Tell us what you really think. Ok, i will comment on this as long as we come back and talk about music freedom. Along with everybody else, including cory, rivalry was chedring for you, we wat the news today about fire phone, and i was really excited. I was expected something big. I kind of saw an old business ,odel, 2year contracts exclusive with at t, a phone priced as high as any device in the market, and i was a little confused because as a prime customer i thought they would give me a phone, but they get prime service to the other customers. The phone will allow you to point at things and tell you what you are seeing. For me i usually know what im looking at. Late friday night, im not sure having that phone tell me what i am looking at is going to help. I dont know. If it is a great success, i believe tmobile customers can have it. But i believe the bigger event are carrier 5 and 6. I think he likes the color pink. You can hear all about the Subscription Service later today. We will have a full interview with john legere at 1 00 p. M. Eastern time. The federal government turns up the heat on the Washington Redskins. A former nfl player turned entrepreneur weighs in. And we will show you where the government grows some of the purest marijuana on the planet. In washington, republicans will elect a new House Majority leader in the make of eric cantors shocking defeat. Kevinone you congressman california congressman Kevin Mccarthy looks likely to win the election. It may tell about the house gops future than this. I am joined by jonathan allen, who is with me here in new york. Also with me is White House Correspondent phil mattingly. Is a friend to wall street and technology companies, is that right . Absolutely. He is kind of a friend to everybody. Mccarthy,likes kevin that is his success in politics. It is not like he has a discernible ideological viewpoint in the republican party. Very big on promoting Small Business, was a Small Business owner himself. Done well on wall street, not like eric cantor money, but he has done well over the years. Why is that . He is basically your typical probusiness republican. Not an answer beyond that. He is comfortable in board rooms and space filling which i people like Kevin Mccarthy. Speaks the language and people like Kevin Mccarthy. What is the impact of Kevin Mccarthy becoming leader . On the business side i dont think you will see a huge change between he and eric cantor. Kevin mccarthy is externally close to silicon valley. He is fascinated by what they do, he hangs out with them regularly. At one point the last few years he was getting there once every 2 or 3 weeks. Very tight with the lobbyists as well. Certainly rise on this. The biggest thing with Kevin Mccarthy is politically he is known as a bit of a savant. Very tight with members of this conference. Member ofe is still a the republican establishment, republican leadership, and has had a difficult time as whip. It will be interesting to see if you cant put those problems behind him or face them even more. What is the Biggest Issue with mccarthy, jon . Phil really hated on the head there. He is not in the camp of super extreme republicans, not where the Tea Party Folks are on a lot minute, uhs wait a oh. Not just what happens today, but in the whips election, there is not going to be a big change in the republican leadership. The big change was eric cantor losing, a message from his district and the Tea Party Folks in his district saying you ignored us, crony capitalism is at work. Right, a lot of that. Didnt feeltituents like he had a real position on immigration. He had multiple she had been on multiple sites on it he had been on multiple sides of it. What you see today is a status quo election. A lot of people are looking at the election today, but jon hits a key point. Not a lot is going to change. There is another one of these in a couple months and that is where you see the tea party guys is that to angle what you are hearing and what did they do when in 6 months they do this over to . What they did is held their fire. A lot of them stayed on the sidelines for this particular race trying to marshal their resources for later. The House Financial ServicesCommittee Chairman jeb hensar ling is somebody who could do that. Paul ryan from wisconsin, not necessarily a key party guy but popular with the younger set in the house, might make a run for the speakership if john bader leads. There is a lot more to shake out in a few months as you suggest, phil. Is there a whole david versus goliath feeling after cantors loss . In terms of the Tea Party Folks trying to get what they want, they are not able fringes, beating the mainstream guys they havent gotten that one knockout shot what is the knockout shot . If you are in the leadership, in the majority of the house of representatives, you cant let government go into default. You cant keep shutting the government down. They did shut the government down briefly. You ultimately have responsibly when you get into leadership and that has a moderating effect on people who find them selves and the position to make a decision. The threeway race for the majority whip, that will be even more contested, right . That is the contested race. Kevin mccarthy is a shoe in. Peter rostrum, very tight, very tight with the current leadership. Scalise, who runs the study committee, core group of conservatives, how they split votes is going to be fascinating to watch. Thank u so much, phil mattingly, washington White House Correspondent, and of course, jonathan allen, washington. Chief Washington Bureau chief. Problems at facebook we will see if they say anything about the surprise outage today. And a ruling that the Washington Redskins is an offensive name may give the nfl a chance to change its stance o. We will talk to a former football player. You are watching in the loop live on looming television and streaming on your phone and bloomberg. Com. I am betty liu. The Largest Social Network was antisocial for a while today. Users couldnt access facebook or half an hour in cities ranging from tokyo to johannesburg. Facebook says things are back to normal and is not saying what exactly the problem was. Hedge fund manager phil falcone is stepped down from lightsq uared. He wanted to turn it into a rival of the biggest mobilephone providers. And when it comes to beuisitions, loreal may getting started. The Worlds Largest cosmetic maker is on track to spend 5 billion on acquisitions for the first half of the year. Loreal just wan just bought nyx cosmetics and the ceo talked to th bloomberg. We see all the opportunities, we are very selective. We take only the ones that we strategy, that are complementary to our portfolio, that have potential. But we are confident that we can find other opportunities this year or next year. This is the story of loreal. And 26 minutes past the hour, which means Bloomberg Television s on the markets. Equity futures are little changed, jobless claims numbers in a few moments. Dont forget that markets just hit a record yesterday after the fed meeting. We are on the markets again in 30 minutes. The u. S. Patent and Trademark Office yesterday ruled that the Washington Redskins name was disparaging and canceled its trademark registration. The extremely rare move comes amid unprecedented pressure on the nfl team to change its name. Joining us with more is former nfl guard crawford ker, who played for the Dallas Cowboys and the Denver Broncos and is now the president of ker wing house restaurant chain in florida. Forr, thanks so much joining crawford, thanks so much for joining us. We have a photo up of your playing days. Do you think the redskins should change the name . Is going toan snyer dig his heels and quite a bit but public outcry will make him change it. Why do you think you will dig his heels . Well, he always said he is going to find it and he is not going to change the name, but with all the stuff with the patent and all the legal stuff, i think the nfl will kind of coax him to change the name. Thatthink it also shows there is a changing time here. You have the don sterling controversy and what that did do but the nba,team essentially highlighting that league. Do you think this is the same parallel with the nfl and how they affect or change with the times . Have got to change with the times . Yes, i think with the media, the Indianapolis Colts owner, who got the dui, they have got to punish them like they have been doing with players all along. What is good for the goose is good for the gander and the public and the media will sway him to change the name, like it will be to penalize the coach and owner. How about you personally, crawford . Are you offended by the name . No, im used to the name. Think of the Dallas Cowboys, the Washington Redskins was our rival for many years, but it is a changing world out there and with a lot of things that are changing we are sensitive to Different Things as we havent been before. Issue that the nfl is increasingly more sensitive. O, crawford, is head injuries we have seen these lawsuits filed by former nfl players over the head injuries they sustained in their careers. You yourself spent about eight years in pro football and were forced to retire because of your own injuries. What is your stance on that . Do you think that these the ballplayers have a case here . I think they do because a lot of the Football Players one of my teammates is having a really tough time right now. A lot of times with the pensions and stuff that the nfl has done hasnt been great. A lot of players out there have some issues but we are hearing about jim mcmahon, a lot of players. I only played 8 years, but if i played 12 or 15