The greek government is obviously still working, which is understandable if you think how few days this government has been in office. We shall wait for proposals and we will enter into talks with them and there will be sufficient opportunities for this. I dont want to comment on every single opportunity bandied about. A person familiar with the matter says they are willing to wait until greece faces a cash crunch, giving them leverage over the antiausterity government. A deal is up in the air with valiant and a pharmaceutical company. Lenovo shares up the most in two years after the Company Reported a 31 rise in the third quarter. The chinese tech giant is the Worlds Largest pc maker started seeing big growth in other areas and boosting smartphone shipments. Their server business is on track for five alien dollars in annual sales after acquiring ibms server business. Now to the lead the fight is on to rule the future of transportation. It may end up being google and one of the companies it has already invested in huber uber. They have also set up a lab in pittsburgh. Not to be outdone, google is said to be developing its own Ridesharing Service that may be integrated into self driving cars stop which company has the leg up here . Joining us the a skype is john leonard. I know you know these worlds well. Lets take this piece by piece. I saw eric schmidt yesterday and he spoke cautiously and boast initially about that early investment in uber. What do you think google has learned about the uber business . It really is an exciting time and i got the chance to speak to uber at m. I. T. They were getting an academic perspective on self driving cars. It is clear part of the excitement here is all the data uber has. They can map new york city dynamically every five minutes. So theres a dynamic play between getting and using data to better understand the Transportation System and get more efficiency out of it. The data is the thing that brings these two companies together. I dont think uber as seen as much of a data company as it is. Is there more to it than ubers interest in the self driving car . The google project, none of us can predict the future and i see a lot of the challenges that makes things harder like interacting with people and dealing with traffic cops and snow. The timeline google has set is so aggressive and hoping to roll something out, so i think it is something that could disrupt the uber model if you remove the drivers and someone else controlled that piece of stop my personal opinion is that is a good head strategy. Dont be surprised in this area and invest in it and see if they can get a piece of the technology pie in this area. Should we think of this more as google has an enormous engineering pool of talent there, can uber come close to that by throwing a bunch of money at college kids in pittsburgh . I dont think they are just typical college kids in pittsburgh. I think of the google project in terms of the wright brothers, almost. It transformative and it might take a long time to pan out. These members of the team came from carnegie melon from Carnegie Mellon. They are rock star robot assists. There are not many of those folks around but you are getting the mentors of those folks and famous robot assists and youre also getting the next generation of students. I was just at Carnegie Mellon giving a seminar with a packed room really into this stuff. They are going to the place where google got its talent and maybe thats the best place to find it. I was at the google campus yesterday and saw the car it looked like a volkswagen bug but theres no steering wheel. Theres a heart attack moment when you get into that. I think its odd to have these two companies that have never made a vehicle ever except for some things to play with a google, but this is not how Car Technology has advanced for the last 100 years. Hasnt it been fisher automotive were some guy making a windshield wiper and western michigan that works in an alternating pattern or delphi doing whatever delphi does whatever little companies do little pieces of innovation not one company trying to do the whole thing under one roof . I think google said they are looking for automotive partners and its interesting that coming east for some of this technology that its such a hard problem that you need the variety of talents and industries of stop when i was in california this summer, i feel theres this reality distortion field in silicon valley. Mountain view has 10 days of rain all of 2014 a 10th of an inch for the whole summer or less of precipitation. Weve got none in january. It does not snow there. A beautiful warm day in february and everyone else in the country hates them for that. One of the things Carnegie Mellon has in addition to challenging terrain is the Robotics Institute has a history of systems building. They have built the darpa challenge robots and complex military systems. They really make the hardware and Something Interesting about this model is they have a large number of Research Faculty that are firstclass academic students and they dont teach. They need these big projects. Uber can grab the best people in the world and thats the only thing i can think of where you could do something so quickly. Interesting stuff will stop sound like theyve got the right partners. Uber isnt the only one interested in self driving cars. Anthony foxx there with me yesterday taking a look at the autonomous vehicle. He took one for a spin will talk to us about the future of transportation and help us imagine the next 30 years of transit in the u. S. You can catch us streaming on your tablet apple tv, amazon fire tv we are there. This is bloomberg west and im cory johnson. Shares of petrobras at the center of the world ever largest Corruption Case are rallying today. There are reports the brazilian president is seeking candidates to replace the ceo. They are being investigated for taking bribes stop fitch just put their ratings and a triple be negative and warned at a for further cut to jump. More than 5358 people have died since mid april fighting in Eastern Ukraine and the numbers getting worse. Tuner 24 civilians killed in the last three weeks alone is fighting between prorussian rebels and Ukrainian Forces shows no sign of abating. Using the dna of three people to create a child u. K. Lawmakers are just voting to legalize such technology to minimize the risk of genetic diseases parents may be predisposed to. The measure passes the house of lords and if it does, britain will become the first country the world to allow three parent babies. Self driving cars could be the beginning of googles transition as they offer and offer an uberlike service. Eric schmidt showed off the new self driving car to transportation secretary anthony foxx will stop we caught up with him to hear his version of the future of transportation. Problem we have with transportation is were looking at is at what is right in front of us as opposed to what is way in front of us. Whats away in front of us is going to be more tactful in terms of defining our future for hair fall and we would rather be in the position of defining our own future rather than letting the future being defined by trends that are going to make it worse. What is the biggest trend not being addressed . I would say the are two things. One is the funding approach is budgeting to a number, not budgeting to outcomes. If we want to have travel time is reduced over the next 30 years, its going to mean investing at a much higher level than we are doing today, across the board, not just the federal government. Second on policy, such as the question of having the money its how that money is being spent. Looking at the mix of Transportation Needs we have as a country between highways transit rail, passenger and freight, we have significant challenges level setting with going to optimize our ability to move and we are going to do it. Youve got millenial not consuming or owning as many cars, using Public Transit to walking and moving to urban areas and the second thing is the growth in urban areas and the urbanization of america on a level we have not seen in 150 years. It is interesting to see the growth of metro areas. Usually there is a city in the core, a suburban ring around the core at a rural ring around that and that is what we referred to when talk about measure areas. You think of cities like new york, boston or san francisco, but you are talking about places like charlotte and albuquerque. Is picking up a wider swath of america because most population growth is coming into the south and moving west into the areas like you are talking about. Its not just the big megacities, its the mediumsized cities. Are self driving cars and answer to this or are they another problem dealing with the issues . I think there is a lot of promise for self driving cars. Both on the safety side in terms of reducing accidents and on the convenience side for consumers. The challenge we are going to have is developing regulatory systems and policies that are more adaptive and flexible that can take a brandnew technology and be able to assess it correctly and help the manufacturer get into the marketplace. We have the ceos of uber and lyft quite a bit and i talk about wanting to talk about the regulatory systems on the local level rather than the federal level. What are the biggest federal regulatory issues they have to conquer . I think they are in a somewhat different category. Many of the regulatory systems that govern Taxi Companies where there are most of the conflicts are at the state and local level. Theres very little the federal government has there, but i think the federal government has an interest in ensuring a service that is being done by someone driving and someone driving an uber car making sure that person has been background checked so folks can be assured theyre going to get where they are going. Are you saying if the local governments wont take care of these problems at the federal government might have to . I believe we have a role to play in urging states to work but im not suggesting we should pass laws that do that at the federal level. I do think thats an area the states and local government that our urging are going to need to address. While you are up there talking about uber and lift, Bloomberg News broke a story that google is going to get into a business competing with uber. Do you think about things like privacy when it comes to these things, whether it is drones cars or whatever . Its a huge issue particularly in these issues like vehicles where connected technology both enhances the experience but also creates vulnerabilities we did not have with the conventional automobile. We have to address that with industries and a lot of these modes with air, rail automobile, we are finding the industry will voluntarily sit across the table from each other and us to figure out how to deal with some of these privacy and security concerns. Dallas u. S. Transportation secretary anthony foxx. Coming up, whats next for radioshack . The stock has been delisted and you have big tech giants like amazon and brookstone and sprint all looking at radioshack as a possible acquisition. Can they save the day . Im cory johnson this is bloomberg west. A u. K. Based financial tech startup is aiming to democratize International Money transfers. Thats not how it works its lowering fees and its looking at lots of different places were currency is trading. Joining me to discuss the companys big plan is the companys ceo. You already got a valuation of over a billion dollars and you are hardly off the ground. I think it speaks to the opportunity of money transfer. It is absolutely an opportunity and i think its right in saying the banks are behind the technology curve. Are they behind in this is this is a charge so much . Its a great business for them to take a huge dig off every time someone moves money from one country to the next . I think so. I think that they can is part of the story but they are having a tough time because they have lots of different problems to solve and innovating in technology has not been high looking at that. Is a because the backend systems are so antiquated that innovating the front and does not make a difference . You could say that. Theres a lot of legacy in banking and it goes back to business models. We came to transfer wise realizing theres a lot of hidden costs when you move money around. Whenever you move money from one country to another, some of it goes missing and i found when i was in lending in lending, sending money back to my home company back to my home country in estonia. What you mean missing . When i started sending my pounds to euros, started looking at the Bloomberg Exchange rate. So you were getting marked on the Exchange Rate in the bank was putting you last in line for a current to trade at that moment . Its more like they gave me a rate which had no resemblance to the Exchange Rate. This is how banks make money on international transfers. They put a margin on it and that is their fee. Even though they tell you they might charge 35 for an International Wire they will actually take 3 or 5 off the Exchange Rate and thats where they really make money. I talked to other Venture Investors who look at these experiences in their travel and they want to not just invest in your company you landed peter thiel and richard branson. How do you get these people as investors . Is it that personal experience they have when they travel overseas . I think its more about believing in the mission and seeing how we create value. People have moved about 4. 5 billion and have saved 200 million in bank fees. So we are putting money from bank fees to peoples pockets. When you look at bitcoin isnt bitcoin the real answer here . That transfers going to be cheaper no matter what you do. Bitcoin is an Interesting Technology and has allowed us to go around additional banks. In the long term, we should watch carefully how we use this technology. Unfortunately, we see theres a lot to do actually get people to adopt or use bitcoin. You think you will be disintermediated by bitcoin . Its hard to say what eventually interesting stuff. We appreciate your time. Radioshack has been struggling for years next to the rise of ecommerce and a lot of screwup from the guys in fort worth. But could add ecommerce giant be looking to save radioshack . Thats next. Bloomberg west, as you are watchingbloomberg west, where we focus on innovation technology, and the future of business. Im cory johnson. Radioshack has more than 4000 stores in the u. S. Thats four times as many stores as best buy. The radioshack has been struggling for years on the verge of a bankruptcy filing. Radioshack is in deep water. Could amazon be moving into throw them a life preserver . People say amazon has discussed acquiring some radioshack storefronts. Joining us from Long Beach California is michael packer. Dress like a dot comer. This is a fascinating story. It really is a Technology Company focused on bringing technology to the masses come and has been for a long time. They just fall on your face. Emphasis is on the masses. Radioshack has morphed into a convenience store. They are a great place for a hobbyist to go. If you are trying to build a ham radio of course you go there, because they have all the complements. They have really evolved into the place where ram all bays where grandma buys hearing aid batteries. They got competed away by the right aid than amazons of the world to offer the same batteries that at a lot lower pricing. Radioshack is seeing its traffic decline forever. Its ironic that we are talking about amazon, theyre are a company that put them out of business stepping in and throwing them a lifeline. I will say, when i look at the numbers, it looks like the business really stinks a radioshack. One is selling battery cables headphone jacks, maintaining an inventory of the tough. If you ok with that business. The one that really crushed them is getting into feature phones and cheap wireless phones as that market particular. It shrunk in favor of smartphones. The same time they were groping growing their mobile presence, best buy went all out for that share. Best buy has done well with phones. I think they were just up against two much competition, a declining market, and the margin and handsets has been bit away so much. Plans are less lucrative. Radioshacks customer is more of a prepaid customer. Those plans are just lucrative. Arent as lucrative. They have over 4000 stores there. And you have sprint, and reporting the amazon and possibly brookstone, and even some subset of radioshack looking at salvaging some of those stores. Is any of that real estate worthwhile for different business . I would guess that about half of the stores are productive run his radioshack stores. I imagine that half of the stores are Generating Positive cash flow. The other half not. I think those assets make a lot more sense for brookstone and not 4000 maybe 500. Im baffled why sprint would be looking for more real estate, though that might be a signal that the aggressive pricing promotion is working. I moved my family from verizon to sprint, they did cut my bill in half. Amazon, i think, it you never want to put anything past amazon. I think amazon is trying to push distribution out as close to the consumers possible sling get sameday delivery. If you can make things happen sameday, by telling you to wait for two days and it will be on your door come or go to get up at radioshack, some commendation is likely. The problem is that everyone likes the better performing radioshack stores, located in the best, highest traffic areas. There probably arent more than a couple of thousand of those. I dont think a combination of those solutions is going to be the end result. It will be one better one bidder buying 500 stores. I wouldve the debt wisely do this. They said they wanted to close 1000 stores, the debtholders would let them do that. I wonder if they saw some value, or because we are seeing that this might be sprint radioshack or brookstone radioshack, that by keeping the name alive, t