Guilty of plotting to hack phones while he was editing the paper. Head of the u. K. Publishing arm was the public face. Found not guilty of bribery and justice. Y courts of she has been cleared of all charges. So has her former assistant. All of them all clear. Rupert murdoch behind this and the days following three years ago. The News Reporter had hacked the phone. A british teenager was murdered. Actually one of the first casualties of the phone hacking scandal. He resigned as editor in 2007 after a reporter there was sentenced to prison for listening to messages on the phones of employees of the royal family. He was hired by David Cameron to be a media adviser for the conservative party. Cameron is the Prime Minister. He followed cameron but then he in 2011 after Pressure Group after an outcry from celebrities. You remember their phones had been hacked. Brooks cleared of all charges, as was her firm or just former assistant and has been. The former editor of news of the world found guilty in one charge of phone hacking. Thank you. Olivia sterns in london. The da William Dollar takeover of directv is under scrutiny on the hill today. Randall stephenson willis they will say the deal will mean more savings for people like us. Megan has more. Wantdo members of congress to know . What is their warning sign . Of the big questions, you just hit on it. We will hear those sorts of questions over again. We will hear from the at ts eeo. They will testify in the house and then really lay out their cases. This is a good thing for consumers. We have early testimony. By integrating directvs capability with our strength in broadband delivery, we will create a new competitor with unprecedented capabilities. Content costs by subscribers will be 26 lien dollars in savings three years after closing and it will enable at t to offer highest the broadband 250 million more customer locations, which a lot of members of congress have been pushing work. Neutrality is also a sweetener to the administration. We will hear a lot of talk about synergy and how it will put bundled pressure on packages for consumers. Ultimately, he says, drive cable. I have to wonder what the opposition says. 25 million subscribers here in the u. S. Alone. That is right. Consumer groups are focused on the paytv aspect. We will hear from witnesses represent that. There is overlap. 21 markets were at t offers tv services. Direct tv is offered in every state. There would be direct competition. At t vowed prices will not go up but consumers say that is not enough of a he. Lavette concern be addressed directly . Absolutely. They really focus in on the numbers. Directv and at t compete in some places but not in the vast majority of market. Play servicepure Service Still is not profitable because they have a lack of scale. . 60 of every dollar goes to the programmers. Their bottom line is that customers right now really one on the services and that is where their needs to be more. What does congress do from here . What is their role and after the hearing, what happens . Right. Pop in circumstance and a lot of arguments . The ultimate decision will be made with regulators. Doj will havee more say. There is a lot of oversight with regulators. There is power there. T t laid out its case the doj will look at whether there are antitrust implications. That is the stage where this will play out. You have got the time Warner Comcast merger, a lot more scrutiny will be given then you would see otherwise. Absolutely. Thank you so much. Moving and shaking this hour, tim cook. When it comes to iphones, go big or go home, according to people familiar with the matter. Apple riders will begin production next month. A 5. 5 inch screen, all the better to play candy crash. Cook is making big screen iphones. Also, going forward, the ceo announced he would step down in an exclusive interview, he spoke about every thing from a turnaround to the General Motors recall deal. What he did and what he might do after leaving his post. Confident he is leaving the company in great hands. s team created not only the products strategy but the production plant. They have had wonderful success and it has served everybody well. Mark will continue major processes going forward. Do you think mark will do Something Different than what you did . You came here and it was a revolution. The best thing to do in the eyes of the board would weaken to administration. Does he have his own changes . Createde entire team the process and the strategy. We are just Getting Started and serving all of markets around the world. We are restructuring europe and will be profitable. The u. S. Is doing well. There is a lot of opportunity for us. You say we are just getting darted. Days to be few more part of the week. The we. The assume you will be coming back . I will maintain many of the great relationships. Have fallen in love with ford i will stay close to them going forward. Mark is able to call you . I said absolutely, any time. A lot of times, i tower over people. I will miss the guy. He has been there for as long as i have been covering word. Employees gave him a standing ovation that went so long, it almost got awkward. They loved the guy. Why would they not . A lost 17 billion. Where will he go . Not been a lotas of time thinking about that. He is focused on ford and i believe him to an extent. He still schedules in 10 minutes a day to look at his options. There are so Many Organizations or corporations that could use a guy like this. A lot are talking about the veterans administration. They have such problems and it would be a real benefit to the country if somebody with turnaround talent could come in. Im wondering what words he had to say about General Motors. Him to sayever known a disparaging word about a competitor ever and he was not going to start yesterday or give direct advice. What he does day is, this is how ford does it. Asked managers and employees and guys on the plant floor to bring forward any problems they had in a quick and tiny manner timely manner. If gm had the same culture in the asked you years, they would probably not be in this same position area have had their mileage, and problems. It is an open culture. I take my road test in a few weeks. What will make me want to in the future . About nobummed out flying car in the future. The first was this guy for ford. Even self driving cars, alan did not seem excited. Cars are driving themselves already. He said it would be alternative and electric for now. Hydrogen cars will be the way of the interim. Thank you. We appreciate that. Turnaround, plenty of Companies Need one eerily will talk to the top turnaround x is coming up next. Traders a cookie . Traders play cookie . Hookie . For some, turnaround strategies have been put in place. Or others, working on controversy and industry challenges. I want to bring in my guest host or the hour who is also the managing partner who has guided several Major Companies through tough times, including hostess. A few companies i wanted your take on. First, american apparel. You have a founder booted out as withhow do you turn around that elephant on your back . Click that is difficult. The circumstances are probably different him up but he would not be the under the first founder who would come back in and take over after being ousted. It is hard on the company. Distraction at the ceo level makes it hard on your culture and you will have division that get created because of that. I do not necessarily know why he is waiting this because i do not know he would have much of a shot to win. I do not know what a winwin the in this situation. Another example of a tuou perhaps push for a sale of this company. Disrupting the day to day management for the bigger picture. In that circumstance, it is interesting. I know he is working with goldman and they are looking at all options. The obvious options to me would private and put a bid in, stock rises, so you could put a bit in. The other would be a private sale of interest. A sale that goldman would help them do. It seems his concerns are that they are not doing enough longterm men and that they are more focused on quarterly. When you are a public opportunity, that is that the right. The price as a founder going islic and aching that cash that you will be under the which one ofar. The companies has a better chance . Theululemon because i think rotted category they were the flagship and that category. American apparel is not a very take company. A lot of markets and a lot of these. Lightning inught the bottle in the fashion side very diffuse the right now in the land gate, it is death right now especially in terms of apparel and the younger market for this. They are all struggling. I want to turn to tax. Tech. Goldman sachs recently updated the stock based on the success of the turnaround strategy. Do you believe it . A great ceoan is and the question for comp knees like that, when you do a foraround, i am looking what market the business should be in to be success longterm. More that market is somewhat cohesive to where you have been, the easier that is to do. When you go further from that to what you want to be, and where you have been, you make it harder. Ibm is looking at cloud and the struggles they have had as and if neville. I do not know that the stock is reflecting right now that vision is perfect or that it makes a lot of sense. Seems like making decisions more important. Quest that is right. Reductionabout cost as a sole reason to do that. It is also noise reduction and vocus there it i tell people all the time that usually in the middle of a turnaround tom a your most limited resources your time and energy and focus of your management team. To the extent you are overly focused on business is that are part of that core. That will make it take much longer to get there very the fact she is doing that is a good thing. Quest who do you want to work for . I would love to fix the veterans administration. It is such a shameful situation for the country. To me, that is a blight and there is no excuse. Quest love would you do . Process,ly the same where you have to go in and figure out, what should you be doing. There should not be these wait times. Look at the end goal and once you figure that out, you step that is day, here are the incentives that need to be in lace. In some cases, literally, you just need to knock heads together. Quest veterans administration. Thank you or sticking with me for the hour. We will be right back. You are watching in the loop live on bloomberg television. Here are top headlines. General electric won the bid and also secured an order for the oil and gas industrys first 20 house and pressure for square inch. The equipment will help High Pressure and temperature reservoirs. Walgreens is reporting mixed quarter earnings this morning. Earnings fell short and the company said it is eerie and they increased pressure on its pharmacy business and will take company wise. R a top lot in london last night. The painting sold for 54 million to an anonymous buyer. It was not meet. The second highest rice paid at an auction. Bloomberg television is on the market. A mixed tag for futures. Action. T of market yesterday, a halted if they winning streak. We are still relatively onboard for a dallas 17,000 watts. Coming up this morning, a home price index at 9 00 a. M. This morning, more read on housing sales and consumer confidence. We will be back, mark again in 30 minutes. Midterm primary elections continued this week with voting today in six states. I want to focus on which results matter most and what each party has to today. Business,ans for big i want to bring in my manager managing editor. Restructuring x arts, mark laid out for us what is most important you could be watching . He is facing a state senator that is tea party backed. Big for the Republican Party. One is, what does it mean to be an appropriate or. He is running in part saying i could ring back federal money to mississippi. He is running against a Tea Party Guy who is saying, business as usual does not work. Nd we need to change things three weeks ago, he fell at little behind running against a state senator. Could lose the general election if he is the state nominee. Lose to theld democrats. They have a strong candidate. For people who care about control of the senate, this is a story about the math of the senate coming in december. They will lose around the country. I am curious as to will we he evenr voters, democrats . This time of year, it will favor the insurgent candidate. He has got his supporters riled up, Tea Party Activists nationally and locally. He has to look for new voters. His supporters are making deals thels favorite as fired up voters turn out and three weeks later, not much else is on the ballot. Christ they will not do this, we of the Republican Party, so i wonder what the congress is doing now. I think it is very scary. Business should be concerned. Is Obama Administration doing everything they can. Republicans are doing everything they can to not take it because of the infighting. Week agor issue from a is still probably reverberating. My question today, tea party stood for test enough already. Extremist stand for knuckleheads. What this tea party mean anymore . It has evolved into some that does not work within the party and it makes it very hard for john boehner and the party there now to get anything done. You have got to go race by race in politics and governance, you are right, you simply cannot be a part of solutions. Eric and are lost and cochran may lose. The reality is, taxes left the message of lower tax antiobamacare. To harness that energy. Deal with obamacare. However the Party Decides to do with it. Then in 2016, the party will have to decide. Are they a Governance Party that wants to build the majority . It has stillses, been a good year for the chamber of commerce and republicans taking the right nominees. Chrysler part of the ties to the does play a part . People do not like wall street or a lot of big is this. This is part of not only a Republican Party but a democratic arty. Has to figurean thisow you talk about big is as part of america, but also deal with middleclass voters. We are dealing because of unemployment and low growth in the economy. It is not just a problem for republicans. It is a problem for Hillary Clinton and president obama. Day, the end of the whatever party is in control and whoever is running, they talk about it and say they are focused on it. The arguments about wall street and big business, the only things that matter is jobs. You will not get housing recovery without jobs. You have to do something that fosters the environment, as opposed to regulating and dragging your feet on pipelining. I am not just picking on the Obama Administration. Republicans are guilty of the same things. Bringing back to my state. To be a broader jobs focus in this country from the top down. Not just the top. Thereir things needs to be three percent growth or higher. Until we get more like three percent growth, it will have to be a stalemate. We need longterm solutions. We leave it there. Thank you so much. Coming up, japans Prime Minister rolls the dice and is putting his prestige behind the bill to legalize casinos. The world cup eater has helped the financial market. That story is coming up next. Often tuning out of the stock market. Trading volumes are particularly announced when the traders own country is on the field. It makes sense. Powerhouses italy and england playing this afternoon, we can see how big their traders actually are. Has been breaking down the numbers. Has been breaking down the numbers. Are certain fans bigger fans . We deftly see that across the globe. Latin america stands out as being the place where the games are on, they are totally shutting down. We see the middle, a little surprising. Then the bottom. The graphic shows europe does. Ot just assess so much totally surprising. I would have thought for sure they would check on occasions. Christ you look at the data and sometimes what about england in particular . They have Something Different. England, regardless of what happens, they are the only country where the traders there will end up dropping trading volumes more for the other games than four games of england. In every other country, you will see the droughts are more when it is your own countrys game here it in the london markets, a lot of traders come from other places, they care more about the other countries. It will be interesting to see if people themselves are just not that interested. Time, so play the same maybe they will watch the italy game or so italy has a chance to advance. Why latin america . It is interesting. Chile is a great example. They dropped 9. 5 . An expert says because they were under dictatorship for so long, they did not have the ability to express their emotions. It is one place they could really let free. The present the president says, just worry about the game and nothing else. Really fast rate really fascinating. And greg, your joining us. Are you a fan . I do. I am just sitting here listening to eric and you gave the most rational explanation ive heard so far for the alltime lows. The news is, do not buy them until after the game. The point is that people are not paying attention to the news. It is how news is propagated across the markets. If people are slow to react and volumes are not up, that is all you can take advantage and get good trades in. There is advantage. I really want to get your opinion on fisa and perhaps even match rigging. How do you change an institution like that . Top. U have to start at the those are extreme issues to deal with. Anytime you have an institution, whether it is the ncaa or fisa, that has issues that go directly to the integrity of the organization, you cannot do it with the same team in control. You have to make a change at the top. Are we talking structural . You may need structural change at the end of the day, but to get there, you have got to start at the top and work down. Trying to say, we are aware and we will fix this and instituted new policies, it is ridiculous. Your integrity is what is at stake. Those types of approaches will not work. Do you find the organizations , do they tendsed to have more corruption than companies