Signs of Financial Stress and china are driving up deposit rates for its risk. Ds global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. Crucial opec talks eating underway in the talks eating underway in the anna and we have a mixed picture. Shanghai seems stronger and the yuan a bit stronger say. This is bloomberg. Emily you are watching bloomberg technology. Ireland has its youngest billionaire. Focus on energy week continues. Runill ask the ceo of sun it donald trump with the Clean Energy Industry in danger. Donald trump has chosen elaine chao to run the department of transportation. It will give her oversight of an industry that has seen record ety recalls and efforts to self driving cars. We are at the early stages of a revolution in education technology. Automobiles and realtime. We want to make them safer overtime. Emily what does the 20 twice of a lane what does the choice of elaine chao mean. Kevin, lets start with her why do you think donald trump picture picked her. Kevin she was a department of labor secretary in the george w. Bush administration and she happens to be married to mitch mcconnell, the kentucky republican. Who is a political pick somewhat wellknown in republican circles. As far as her positions on infrastructure, for example, that is unclear. That is going to be one of the Top Priorities from a policy perspective. That the trap administration is going to want to pursue. Fairly ambitious infrastructure plan, one spend wanting to spend over half 1 trillion. What we know about his plans for Driverless Cars . Kevin there is much to know. When you look at in particular, elaine chao, as this pic and where she stands on some of those walk year transportation wonkier transportation issues, we dont know. Heres what i can tell you. The alliance of automobile manufacturers, which represents all of the large Automobile Manufacturing Companies in the world, they put out a Statement Today and called elaine chao a superb pick, so when you look at that perspective, the Auto Industry is viewing this as a win. I can tell you that talking with sources on capitol hill, democrats are not likely to put up a fight against elaine chao. Emily Hillary Clinton had plan to continue some of the policies that secretary fox put in place. Example, a Wireless Infrastructure so cars can speak to one another. We sell anything about elaine president ord under bush that would give us indication of how she would approach new technology . Shes been philly receptive to new technology, particularly as it pertains to a she has been particularly receptive to new technology. I would argue that she will come at this from a free market perspective and will come at it again, when you look at the statements that are coming out from trade groups, from the business sector, they have all been favorable for her. I think in terms of some of these more regulatory issues, a waitare taking away and see approach, but she is not viewed to be politically hostile. This is someone known in washington circles, she provides certainty to the Business Community and the business sectors reacting with confidence today at the pic of elaine chao. It was just made official a few minutes ago from the transition office. Emily earlier today, donald trump did nominate georgia congressman john price for health and Human Services secretary. About Health Care Technology in general, and they said that federal funding will be very important in driving initiatives forward. Any idea how the congressman or president elect trump feel about that kind of technology . Kevin this is where it gets interesting. And financialorld worlds have a dipped a little bit, thats following brexit and the election here. A top surrogate for donald trump in the health care field. He was an early endorser of a donald trump at a time when it was not politically popular to and he was the architect of the republican alternative to the Affordable Care act. Insect tands on finsec and other things, but he that remains to be clear, but he is argued against the obama administration. This signals the president elect trump is adamant about repealing and replacing obamacare despite that 60 minutes interview where to moderate of several aspects of it. Top is a signal that his rallying cry on the campaign trail to repeal obama care is something he intends to follow through on early on. Emily our politics reporter, thank you for that update. We are going to continue to follow potential cabinet appointments over the next several days. Coming up, we will be taking company that just raised 150 million in its latest funding round. The strategy, next. This is bloomberg. Emily tomorrow on bloomberg tech, we will sit down with the yeo of mechanics after the went public. New shopping record according to odo the inside. Spent 12 spelt more on monday than last year. The focus on online merchants is it an edge as retailers move away from traditional brick and mortar. Ceo of a stripe jointly. Joins me. As you know,stripe is accepts payments. As for this round, i think what is gotten investors really excited is the momentum weve carried through 2016. It was a year of building for scale and scale has come. In particular, a lot of big cubbies have been joining stripe Big Companies have been joining stripe. In addition, we have opened for ance,arkets, fr spain, singapore, japan. Weve also lurched launched new products. 17, theok to toy capital is to double down on the efforts, open up new markets and look at the scale to come. Emily cyber monday up 12 . How you continue to monetize and capitalize on the trend . As you mention, 12 yearoveryear. Yesterday was a huge day for stripe users. Being an really about ally to startups and Technology Companies and giving them the tools to accelerate their businesses, go global, build marketplaces and platforms and pioneer new business models. Is the difference justified and why . Stripe and squared are different businesses. It has a very different user base and solving a different aem youd foursquare different problem. Square, that is hair salons, coffee shops, things like this. Taking advantage of new opportunities the internet great. What is the estimate or forecast for this year and how fast do you expect your number to grow . We dont report any financials right now is a private company. Weve not confirmed any numbers. We are seeing a lot of great skill, driven great scale,. Riven by emily you have a lot of International Efforts happening. N china, i know you are now in cuba. Now we have a president elect who says he was to curb trade end thena, potentially relationship with cuba. Are you concerned at all . William earlier this year when the president was making his historic trip to cuba, he reached out to stripe in particular. A lot of entrepreneurs were asking us to be there because of our atlas product. Ipe will all be about always be about economic inclusion. What it means with the new administration, im not the expert to talk about policy or macro conditions. That is strong evidence the new it ministration is probusiness. Job creation and stoking the economy in general is a priority, so we are at least aligned in that way. Emily is it something you are watching . You have interest in a lot of these companies that have become hot button issues. William is something we are following. Emily where next . We are in 25 countries. There are 175 countries we are not in yet. We have a very strong business in europe and Southeast Asia and will be doubling down in those regions. Mentioned are often as a forthcoming ipo candidate, any idea when that will happen and if the new political environment changes that . Us. Iam nothing changes for we are very happy as a private company. We are capital efficient so we dont need to rush to public market. Patrick have spoken to and john, founders of the company, the Bloomberg Index calculates they are the youngest billionaires. From your perspective, what sets them apart as leaders . William i think theyve had from day one and extraordinary vision for strike. Stripe. Not just payments, but allowing entrepreneurs to build huge businesses online. It is that passion and longform longterm orientation. Emily thank you so much for joining us today. Great to have you. Bob greifeld has been running the show at nasdaq for the next last 13 years. While many in the business are cautious about president trump, he is more optimistic. He has to understand we are coming into the age of machine intelligence, Machine Learning and the data that has the ability to change the employment profile of this country and really on a local basis, profound ways and ways we have not seen since the industrial revolution. So that fits in perfectly with Donald Trumps vision of america . Is it back to what we saw 60 doesntr what have to be the 2. 0 version . This, should we become more nationalistic or not is a topic for debate, but the changes in technology are the most important thing, and i think mr. Trump and the rest of the administration will realize and focus on that. Abouttalk a lot globalization displacing a lot of people and this leading to the election of donald trump beard you can argue that technology has displaced people jobs move on and if you dont retrain people, you dont create quality jobs. I think jobs have moved to other jurisdictions because of lower wage. That is a fact that donald trump correctly recognized. I think the larger point is, you have the ability to have machines representing the lowest cost wage possible. You see machines getting to the point where they have manual dexterity. Theyll allow them to do many things that were previously thought impossible for machines to do. Were going to have to deal with that reality. The obvious example is self driving cars. That will happen and what will that mean for jobs . What will that mean for jobs . Trump wants to bring american job creation back to the glory days. How do marry the two so that you create jobs while advancing the economy . I think the passive bringing that tos jobs america is a good path, but that pass alone will not be sufficient. Technology by itself will change the nature of jobs in a profound going to be the biggest change weve seen since the industrial revolution. From my childhood, it was the , carrier, iy, ge think for you, International Business machines rained supreme. See at nasdaq about job creation . I dont see it. There is a shortage of workers today for high Technology Companies. As much as we are talking about machines replacing people, today , if you have a Higher Education degree in a stem field, you have more job offers. Is secretary roth of commerce, is he going to integrationmart Integration Strategy for those vacancies . I think if you look at what the president elect has said, he is said if we have the need, we will bring the people in. I think he will be good for Technology Companies and we will and enlightened policy certainly, when you go to Silicon Valley and there are literally thousands of job openings that cannot be filled by americans, the skills are not there, i think we will have enlightened policy to bring those workers in. Emily ceo of nasdaq. Noted investor Willie Tilson spoke to bloomberg about his outlook on the market and investments, including his position on tesla. Although solar city took a big chunk out of the stock, he is taking a cautious approach. I am so tended to short it. I got destroyed on the big runup and it has made me cautious of shorting it because i got burned before. Partly it is because you can construct the most perfect their case, the Company Hemorrhaging money, the solar city acquisition will add to their losses, etc. Emily coming up, facebook remains in the spotlight over fake news. Should they be held responsible . This is bloomberg. Emily now to a story we are watching appeared german prosecutors are investigating Mark Zuckerberg and another of other executives after complaints of hate speech. Networkaimed the social acted unlawfully by were phase thatiling to remove posts incited violence. They provided examples of posts expressing support for terror groups. Facebook says the allegations lack merit. In time, the ceo of axel springer, one of the Biggest Media Companies in europe, says there should be resistance to mediate facebook. The, to remade in an exclusive interview with bloomberg. Exclusivede in an interview with bloomberg. I stick to Mark Zuckerbergs philosophy that it is about connecting people, so it is a bit like a telco in the old days. It brings people together and facilitates communication. Caps and couple of years, it will be Virtual Reality conversations we have. Publisher, it is not a content producer. It takes no responsibility for content and should not take responsibility for content. It is a misleading debate. Tell people what they have shared during a telephone conversation. I think it should be the rule of law, what is against the bestitution, that cannot published on facebook, but i think the whole idea that they should have a super editor, that would make facebook a global media monopoly and that would be in the wrong direction. Emily ceo there of axel springer. Coming up, we delve into our weeklong focus on energy. Residency means for solar. This is kluber. This is bloomberg. It is 1 30 p. M. In hong kong. Heres an update of the top stories. Stephen the nation is set to be the pick for treasury secretary. He is the second Goldman Sachs name in the administration. Dined with the tycoon and said he is impressed with the team he is putting together. That is yet more evidence a rate hike is coming next month. Jerome powell is saying the case for hike has clearly strengthened. He said unemployment and inflation are approaching the targets and moving too slowly could trigger an abrupt decision. Stocks and liberty are headed for their worst in five years. The currency hit a new low last week as new emerging markets sold, concerned that donald trump may signal a faster typing by the fed. The creation of a Holding Company was prevented as a way to improve shareholder value and from elliott management. Samsung added that they would benefit from the split. Global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. Lets take a look at the markets faring. Juliet has the latest. Lets have a check of the samsung shares. They have a record high since 1975. Jakarta falling quite significantly. A key shareholder tweeting he sold out of the stock today. Ore slips we saw iron from a twoyear high. Markets are mostly high coming season weakness coming through in shanghai and australia by one third of 1 . We are seeing a bit of fluctuation in terms of the dollaryen, but some movement from the korean coffee index. Seeing the yuan strengthened against the dollar for a fourth consecutive session. Korean steel is leading the gains, over 10 . Hong kong is seeing fairly solid movement. The indexes up by 4 10 of 1 in late trade. We are seeing a little bit of weakness coming through from ys. E casino pla we will be live from london at the top of the hour here on bloomberg television. This is bloomberg. This is bloomberg technology, i am emily chang. We are focusing on energy this week. First up is solar. In the weeks following donald trump election, there have been endless speculations about what like infuture will look the united states. Donald trump has promised to bring back, and jobs and scrap president obamas clean energy initiatives. Solar jobs have grown 12 times faster than the rest of the economy. Joining us now to scout the read lynn, andoad ahead, our editor at large, cory. Thank you for joining us. Donald trump is a guy who has indicated maybe Climate Change is a hoax. How concerned are you about your companys future . Renewables are absolutely here to stay. Not concerned at all. People want it. Just highlight what voters wanted, if we look at the federal election, where the Energy Policy gets that is really more at the state level. There were two places where there was voting based on solar, and that was in florida and nevada. In florida, the same voters that elected donald trump and marco rubio also voted to keep rooftop solar. Rooftop solar is very of the moment. A creates the domestic jobs people want and brings Affordable Solar Energy to people and brings competition. Bipartisan set of characteristics. Still somethere are question about how donald trump feels about it. Lets take a listen. He is not said very much since being elected, but lets take a listen about one thing he did say. Jobtrump i will cancel killing restrictions on the production of american energy, including shell energy and clean coal, creating many highpaying jobs. That is what we want and what we have been waiting for. Emily when you hear him say that, when you hear concern about tax credits being rolled back, what is the response . Lynn i think what he is saying is we are investing in infrastructure and jobs. We are investing in domestic jobs, and that is precisely what we are doing. The jobs in solar are growing 12 times that of the rest of the economy. The other benefit about rooftop solar is that we are really competing with the price of retail power, which is why we will win longterm. It makes sense to use existing rooftop infrastructure and produce the power where it is deliberate. Were not really competing with centralized power sources, we are competing with the whole cost to transmit them to the home. On to the tax credits, i will say that the tax credit was a policy that was extended under a republicanled congress, that policy. Orge bushera that is what