We would hear from the teat chief executive. You will meet monique, my guest. Headlines. Out the European Central bank has announced a final round of Interest Rate cut its to stimulate europes economy. Mario draghi announced a plan to buy private securities. A reminder that tomorrow in the loop will have complete coverage of the jobs picture including reaction from the chairman of the National Economic council. Economists. From we will have a ceo roundtable with the founder of staples, tomorrow at 8 00 eastern. Stocks today, google shares rose. The federal trade commission overpaid le charge customers for children making payments on mobile payments. The burger chain is a kiosk in new york city park. Those are the top headlines for a back to you. The oil giant bp grant guidelines after a federal judge said the company worked with gross negligence. Bp has paid out 45 billion in fees related to that spill. That could change. With more litigation and finds, i want to bring in alix steel. Lets begin with you. Judge say . E he stuck it to bp. He blamed bp for most of the spill. Responsibility. 30 for transocean. 3 for halliburton. Is the grossesting negligence is difficult to prove. Prove wantonness conduct. As is. G for oil is risky he came down with that ruling saying bp was grossly negligent. The question now is what will that fine be . Way it will be determined is how much oil was pumped into the fineof mexico, the maximum be 4300 per barrel. You could be looking at billiong like 17 dollars. And overhe big ax their head. Shares of bp are down 6 . What is next . Asked right now they have to wait. It is a waiting game until the ,ext phase of the trial starting earlier than january 2015. The key question will be what is the actual fine the judge will impose . Alluded to isu 18 billion. It could be less than that. One of the questions, how much oil was spilled . There is a difference of opinion. Billion is the worst case. That is six dollars per share. In some sense you could say the theet is pricing in midpoint. Know. T dont untilmpany will not know 2015. What does that due to the stock in the future of bp . Reaction to an extremely negative headline. This was as negative as it could have been. Gross not expect negligence to be declared. Based on everything we have known. Bp adamantly rejects gross negligence. They are going to appeal that. In the meantime, the multiple on the stock is going to be pressure. Constrain the company. Management would presumably light to do that. It is going to be difficult going full words if there is a looming 18 billion liability. There is context for this. There have been previous point bills and fines. This is nothing like we have seen in the past. Valdez spilled a fraction of this. One of the biggest cleanups came from hurricane katrina. Bp is by far the worst. They are probably saying this isnt it. There is a lot more to come. The five states that were affected can also go and fire up file for claims. That could be as much as 12 billion. The gross negligence claim opens the door to punitive damages. These are those that didnt for individuals. There is no way to quantify that. Is it dollar for dollar . It is up for debate. That is a concern. What about the shares of bp . Stockare neutral on the because of the legal uncertainty. , it is not is expensive. It is not expensive for a reason. There is this looming liability. We do not know what it is. You alluded to the fact that other things could come down the hype. Pipe. Me down the. P has settle a lot that is behind them. These regulatory legal issues with the government are still a real concern for the stock. We stay away from it, companies are muchron and shell safer. Similar evaluations, and without because ofose sleep legal arrests. There other companies that were part of this decision by the judge. Less cup ability. Negligent butound not grossly negligent. Halliburton already settled for 1. 1 billion. This removes that problem for transocean laying the blame at bps feet. 2010, then fundamentals were gray. As long as you have the oil flowing out the stocks were hammered. The 20 billion in cash. That is great. But the point, you have it hanging over your head. Steel. Nt to thank alix james to thank raymond oil and gas joining us from houston. Coming up, a conversation Stephanie Ruhle had on why the best has yet to come for the nets and the berkeley center. Barclays center. This is taking stock. Im pimm fox. Some of the biggest sports franchises. They earn big money. There is another team scoring on and off the court. T sat down with stephanie. It has been incredible. It has exceeded our expectations. New york city is the big event. That was our vision. Worldclass entertainment to the borough. We have delivered on that in so many ways. Award shows, the nets. To college basketball, boxing, family shows. We are doing it all. We keep growing. Ask how much more programming can you expand into it . You have everything. Hockey is coming. Hockey is coming. That is going to create an opportunity to be selective in our programming. We are excited. With the volatility, we have been in the concert business for years. But it is cyclical. There is going to be a downturn. Guarantee ring us 44 nights is a big deal for us. Having the insurance policy of knowing that every day you wake up you have 90 dates filled is a great thing. You have the garden here and the Barclays Center. How are you bringing these live events to the Barclays Center without costing you a lot . I would love to take credit i cant. I think it is brooklyn. Upandcoming artists want to play there. They want to create their own legacy. It is an incredible dynamic. They lost 20 of their audience with the vmas in los angeles versus brooklyn. There is just this madness that we have been able to create in brooklyn for consumers. Could you quantify that . Jerseythe nets from new to brooklyn, a similar distance. What is so special about brooklyn . You are right. We moved 13 miles. We were the last in revenue. We were in the top five last year. We were 31st in merchandise sales. We were number three this past season. We transformed our brand into of brooklyn. Our food speaks to brooklyn. Our employees are from brooklyn. We have been able to embrace this dynamic. It was free. How is this allstar we going to work . The next, and the nets, cohosting. I cant see the mets and yankees putting the rivalry aside. We are putting the rivalry aside for a week. We are working with the guard. They have some exciting plans. We have incredible plans leading up to allstar week in on friday and saturday night. We are thrilled to bring a huge global event to the borough. I cant stop thinking, you are in the running to get the Democratic National convention in brooklyn. Thats a big moment for us. By been led [inaudible] ,e recently toured the building and we are excited about the opportunity. It will validate us. It is an iconic venue. It puts us on the world stage. It has been an extra ordinary two years. At the end of the day, do i think i am there . We are not there yet. We are on the landscape when people start thinking about the biggest and greatest venues in the world. Thatbarclays, we are in conversation. We have only been at this for 24 months. The dnc validates that. Now that you have sold out, do you wish you put more seats in . No. Not really. We hold 17,000 for basketball. One thing that is great is the intimacy. Im not sure we could have captured that if we went larger. Be soldce to have, to out and create scarcity. Nba,you look around the those last seats are not easy to fill. Some people say the intimacy is the best thing. Others say the nets are. What is the start of the season . Im excited about the team. We got younger, faster. Billy king has put together a great product. Weeks, opens up in three earlier than most teams. We aspire to be local. We are playing in shanghai and beijing. We have to start the season earlier. Flex my thanks to Stephanie Ruhle. That was at the bloomberg sports and business summit sponsored by bloomberg. September means back to school. That means back to school shopping. Im going to talk about a professor who wants to make learning less stressful and more fun. Details ahead. This is taking stock. Im pimm fox. Not many educators get a chance inteach 200,000 students their entire career. My next guest did it in a month. Repressor professor barbara she just taught an thate class on coursera was viewed across the world. Thank you for being here. Journeyple about your into the world of math. It didnt start with numbers. Way through math and science. Subjects. Ose i had no desire. I love language. I am listed in the army to study russian. I learned russian, worked as a russian translator up in the bering sea. Then i begin realizing while i having these adventures, where i met my husband. I had to go the end of the earth to meet that man. I had all these great adventures. I realized i was not having an adventure in here. I wasnt experiencing a different perspective. I realized that if i really want there will be nothing more alien to my personality than learning math and science. Why dont i give that a try . At age 26 years old i decided to try and retool my brain. Im a professor of engineering now. If i had known then what i know now it would have been so much easier. That is why i wrote the book. Revealed the hands that use to be less fearful about learning math and science. When you look at a math book, what happens is the pain centers of your brain light up. What you often do is you look at it and there is a very easy way to get away from that. Put your attention to something else. Instead of doing that, trick , for 25in to look minutes, work without distraction for 25 minutes on your math. That allows you to get into the flow without worrying about the task you are working on. , lookingabout the task at something and saying that is the task i have to do is what triggers the pain. , and thenck yourself do that, you can get into the flow. That is key. You want to do a little bit every day, not a bunch at once. You set the timer. You mention in the book that exercise and sleep are essential for good performance on exams. Absolutely. Exercise is one of the few things. That allows you to learn. Those neurons survive . You exercise. Exercise is one of the most remarkable drugs around. Illegal or legal, to help you learn effectively. Sleep, what happens is your brain cells actually shrink during sleep. During the day these toxic metabolites, out. That is what is washed away in sleep. I want to thank you for sharing those insights. Professor barbara oakley. Powerhouse. Fashion this is taking stock on bloomberg. I am pimm fox. For todays market movie headlines, i want to go to my colleague in the newsroom, su keenan. There are signs that the recent talk of a truce between russia and ukraine, the scheduled ceasefire talks may not and the five months of fighting. The Natoukraine Commission is condemning russias annexation of crimea. That russia is still violating ukraines sovereignty. Bob mcdonnell and his wife were convicted of trading political influence or loans and gifts, such as golf trips and shopping sprees. The Corruption Case involving the onetime potential republican president ial candidate and his former nfl cheerleader wife prompted the state attorney general to call for ethics reform. Both sobbed as the guilty verdicts were read. Sentencing will be january 6. Joan rivers, stand up comedienne, writer, and outrageous tv personality whose jokes brought laughter to several generations, has died at age 81. She was hospitalized last week after complications due to a throat procedure. Wn for hurlingo she had fellow celebs, installed herself as a fixture on runways, commenting on fashion in a way that no one had ever done before. She will be missed. Back to you. Thanks very much. Su keenan in the newsroom. When it comes to red carpet fashion and Bridal Couture, Monique Lhuillier is a household name. She and her husband, tom but we tom bugbee, turn her name into a multimillion dollar business. They are joining me now. Thank you for being here. You are here for new york fashion week. You are based in los angeles. You were saying that from a from an early age, you knew this was what you wanted to do. Saying that, from utterly age, you knew this was what you wanted to do. An early age, you knew this was what you wanted to do. As i grew up you were in the philippines. I came to los angeles to go to Fashion School. When i started looking for a Wedding Dress 20 years ago, i felt like there was a void in the marketplace. Thats what started our company and how we got into bridal first. When you said 19, your husband here kind of rolled his eyes. You know it is 20 years. You are an accountant by trade. You have an accounting background. How did you come to be part of the fashion empire. We will get to the proposal in a second. I was intrigued. She had a great passion for fashion. It was a great opportunity to build a company and build a brand and be together and travel the u. S. And the world. It sounded like a fun idea. Now, monique, that being together part is quite important. It was the proposal of marriage and your subsequent search for a Wedding Dress that started you on the path to bridal could tour. What happened . I went to Fashion School first pick first. I love fashion. I was a young bride looking for a Wedding Dress and i felt like there was a void in the marketplace. Right after we got married, six months later, i came up with my first sample line in bridal. Not knowing the business, we said, ok, lets build it from scratch. We went to all of these different stories that supported us and carried the line. Editors noticed. It was stepbystep we built this brand. For the first seven years, it was solely bridal. Then we said, why are we dressing only around the special day of the wedding, we should dress her for all special occasions throughout her life. We started doing red carpet and special occasion dressing. Now we are happy to say we have lifestyle category. We do a bunch of other collections. We are going to talk about that. More on the Bridal Couture and the bridal collection. You have said that what you do is you take very traditional fabrics and very traditional materials, but you use them in a new and modern way. I think it is very interesting to start with something that has tradition and history. And itow i cut it confuses a more modern touch into the dresses, which i think is what brought us to where we are today. I think it is a passion of creating these beautiful pieces. I cannot describe it. It just happens when i have fabric and i drape it on a form. After youve created this wonderful dress, what does Something Like the top could tour top Bridal Couture down couture top bridal gown go for . Signatureckness collection, it would be Something Like 4000 to 20,000. We have another collection that starts at 2000 to 4000. , have a couture line oneofakind, where i come and work with the bride, and it is true custom, multiple fittings involved, and that starts from 30,000 and up. Now that you have the bridal piece working, just step back for a second, how do you decide where to go next with the collection . It started with her wanting to do something more than just working with white and ivory. Going into special occasion eveningwear was a natural extension so that we could capture the customer again. It is a very similar product in the construction, the type of product qa of fabric you use. But it costs more money. You are branching out, you have to raise more money. How do you do that . How do you go from one step to the next . We have been slow and deliberate. We have taken small steps. We did not just jump into it and start showing at new york fashion week. We came up with a small collection and tested it with retailers and slowly built season after season. I think in our third season, we took the plunge and came to new york and showed at fashion week. Is an overnight sensation, is an overnight sensation, but it has taken 10 years to get there. Tell me about what is going on with the world of celebrities. What we hear about highend fashion, we talk about the red carpet. So much attention is paid to wearing fashionable items. Im fortunate that a lot of celebrities continue to wear my dress is on the carpet. What that does is it droop drew barrymore, reese witherspoon, halle berry. It has helped us grow internationally. People recognize my work. The first lady, Michelle Obama. A big honor for me to dress the first lady lady. It was a dream come true. What was it like when you get to meet Michelle Obama . A lot of secret service. Did you have to go through metal through a metal detector . I cant really talk about it. It was a highlight of my career. Tell me about the athletic wear trend we see. Under armour signing Gisele Bundchen as the model for activewear. Thats a big trend in the fashion business right now. People want fashion to be more organic and not so forced. I feel like the infusion of athletic cuts, whether it is something im wearing today, inething more sportyinfused high fashion is very interesting our product is made in america. We have a factory that we set up in los angeles of 200 artisans. For me as a designer, it is so interesting to look to walk in and carve out what the dress is going to be. The process has been wonderful. Is it challenging to find the right level of skills, the people that have this background, the experience . It is getting harder and harder to find the skills of talented artisans. We also train people. We have been doing it for 18 years. When we were starting in the business, we were lucky to inherit some talented artisans from other countries that were closing in los angeles. We had that pool to start with. Then it was trial and error, pushing it, how we make the product better, and he kept evolving. Of the exciting things and it kept evolving. One of the exciting things is the brand has to keep elevating itself. When is the show in fashion week . Tomorrow night in lincoln center. You will be in the front row or backstage worrying . I will be backstage with butterflies in my stomach. Seeing the girls line up. Taking it all in. Ill be in the front row. Youre going to check the reaction. Both very thank you much, tom bugbee and Monique Lhuillier. Good luck tomorrow. Thank you. Coming up, we will talk about a humorous video. A serio