For labor. Here is Prime MinisterDavid Cameron speaking after winning another term in power. Prime minister cameron we will govern as a party of one nation one united kingdom. That means ensuring this recovery reaches all parts of our country from north to south, from east to west, and, indeed, it means rebalancing our economy, building that northern powerhouse. Emily cameron has reappointed George Osbourne for another term as chancellor of the exchequer. There are talks to raise about 25 billion in financing for its potential takeover of milan according to people with knowledge of the matter who say the extra cash would give temba the ability to increase its offer. Last month mylan rejected tevas 40 billion takeover attempt. A federal court says broadcasters will not have to turn over sensitive video programming documents as part of the governments review of the at t direct tv deal. The court ruled that the fcc did not prove that the confidential information from cbs, disney, and others was necessary to the merger review process. A. O. L. Shares are rising the most in 16 months. The Company Reported a 7 gain in First Quarter sales and turned a profit of 7 million. A. O. L. Has shifted the focus to Digital Advertising and sales at its platforms unit which includes Digital Advertising growing 21 . Now, to the lead. Hoover is willing to spend billions to buy one of the Worlds Largest digital mapping services. The New York Times says uber has submitted a bid of up to 3 billion for nokias mapping business known as here. Nokias map business has an 80 marketshare for built in car navigation services. Ubers bid is competing with another one from a group of german automakers including b. M. W. , audi and mercedesbenz. The automakers are also teaming up with the chinese Search Engine on their offer. So why are all the Companies Bidding for nokias maps . Joining us, our bloomberg west editor at large cory johnson and with me in the studio the mapping expert managing director of a Consulting Firm that helps Companies Integrate maps and location into their businesses. I am so glad youre here today. We are all wondering what is so special about nokias maps. Mark its been interesting. Since they announced theres been a flurry of rumors about who might buy them. It goes to a couple things. One is the map data is reamey key here. Theres just not that Many Companies that own map data of the world. Emily how Many Companies . Mark four. Google owns their own. Theyre doing their own thing with it. Nokia has here. A company in pompom in amsterdam and then an open Source Community called open street map. Those are the only options. Its scarce and also super important. Emily all of the maps, the digital maps we see are from one of those four companies . Marc basically. There are other regional providers and other types of maps and most of the maps you see in your car, on the internet, on your mobile phone comes from one of those four places. Emily uber uses these maps already but why would they want to buy them . Marc a lot of people have different reasons. I think thats the interesting piece to figure out whos a head. Uber obviously is building a huge logistics business. If they can understand the map data and how people move around that better than their competitors they build competitive advantage around that and that would be the rationale for them. The rationale is different for others. That makes it interesting to watch. Does the kind of data change . I remember looking at this when i was looking at garmin 10 years ago and it was amazing there were a lot of other Companies Making devices but not a lot of providers of the data. I wonder if the data, itself is different. Marc cory, that is a really important part of this. The needs are breaking into two different groups. You have the general mobile internet guys primarily around local search. They want maps to show where people are, find places, things like that. On the other hand the automotive guys are really trying to move beyond the navigation that you might have in your car today to really High Precision navigation where theyre looking at things like what lane are you on and High Precision things that lead to Autonomous Vehicles ultimately. You have this data set being pulled in two different directions. And so youve got the automotive guys with their requirements and you have the mobile internet guys with their requirements. One way to look at this is what do you get if you buy here . The other way to look at it is what do you lose if someone in the other camp buys here . Because theyre unlikely to invest in the technology that you want. Marc you didnt mention apple. Why not . Well apple obviously has built a huge mapping effort since they sort of stumbled a couple years ago. They built a really big team, hiring a lot of guys. Apple right now is built on pompom maps. Theyre using that and as far as the publicly announced share which is very little thats the plan. There is a lot of speculation that apple is building their own mapping data. Its a huge task. Google can it. It surprised everyone. Its a very big task. But, you know, apple certainly has the resources to do it if they want to. Emily how long does that take . If apple is coming from so far behind how many years would it take . Marc it is in years. Google started oh, i think the ground truth project in about 2007 2008. You could argue theyre still building it out. It takes years. I think that becomes an issue for companies that havent started in this to start from scratch and build your own is a long long process. Emily talk about the specificity of the data. There is a difference in knowing what street youre on and what lane youre actually in on that street. Right . Marc yeah. Emily who has that very specific data . Who is the furthest ahead there . Marc think of it as three layers. One is display maps. This might be what you see on a search thing when youre looking for something, you want to find where something is. The next level is the data that allows you to navigate which says you might be able to take a left turn here and not there. That stuff is fairly common in most of the data sets. The highest level is the thing theyre calling h. D. Maps, the lane guidance. And thats going to automotive navigation. Really only two companies are working on that seriously. Google is and nokia here. So if nokia here goes either to an Automotive Company theyll focus on it but if they go to say someone in the mobile Internet Business that may fall away as part of their focus which puts the automotive guys in a real issue. Emily why would Companies Want that data, what lane theyre in. Beyond that is there another reason . Marc. The services are more and more complex. One thing the automotive guys are looking at is the car is the last largely unconnected device out there. They see it changing dramatically in the next few years. The question is who is going to control that the better User Experience will control that. I think the pressure is coming from the googles to be put on the automotive guys to win it. The lane guidance ends up giving you a more concrete experience of where youre going, and as cars start to speak to each other you get into traffic related issues. So theres a big push on that. But its very hard to do. Right now its too vague to figure that out. Marc yeah. Gps is one of many technologies that deal with positioning. Theres a number of others including dead reckoning and even in the mobile world using sensors to position yourself but i think that part of it, of sort of understanding with precision is where you are is one of the key things. There are things happening in the u. S. Gps is a u. S. System. There are other systems in europe and russia. And as those evolve they will improve the accuracy as well as combining with other sensors to get better information on the actual location. Emily why would the german automakers want to partner with bydu other than its a big company . Marc an interesting question. The german automakers are interested in the High Definition maps part. Right now they run, they are one of the major map properties in china. We miss them sometimes in china. Massive map company. I think they have a strong interest. You can see it becoming a buyer in this because bydus maps while very good are in china. Some of the reports said theyll use nokia in china. I dont understand that actually. What would seem to make more sense is to get out of china into a broader worldwide market. Emily how do you expect this to play out . Marc the automotive guys have a huge amount at risk if they dont secure some position. Having said that the advantage the internet mobile companies have is theyre growing so fast they can think about the company theyre likely to be in two years and it might be a very Much Bigger Company and could justify an investment the automotive guys may not be able to make. It is a tough one to call. Emily ultimately if say uber who i would think is the underdog, would you agree . Marc cr. I think uber has a strong case for it. I dont know that i would put them in the leading position. Emily right. How would owning these maps change uber . Does it make uber more scary . Marc it gives uber the ability to really unrstand how people move around in the world. One of the things we see is in the beginning maps were the data you were interested in, how to get places. Now the ball haul on data. Where people are going. Where theyre going. Where theyre moving. Uber launched uber pool where they want to pick up multiple people on a ride. Knowing how people move around and the trends is one of the key parts of data inlaws is driven back from maps. I think thats what uber is really looking at. Emily you are the mapping guy. You are the mapping guy. Ive learned so much just in the last five minutes. Managing director, well have to see how this plays out. Thanks so much for joining us. Coming up, the clock is ticking for the u. S. To change over to chip and pin technology. What are the road blocks . Next on bloomberg west. Emily this is bloomberg west. Im emily chang. Up next we take a look at plans for Chip Technology in the u. S. And after that talk to the 23yearold who took on United Airlines by helping people book cheaper flights. First though a check of your Bloomberg Top headlines. Shares of bow jiang ls are popping today as the Fried Chicken and ham and biscuit chain goes public. Bojangles raised 140 million in the offering. It joins other chains like pot belly and shake shack in going public. The Illinois Supreme Court has rejected the states plan to fix its 111 billion shortfall. The court said the law which sought to cut costs of living increases and boost the retirement age violates the states constitution. The state had argued it could enforce the law because it is in a fiscal emergency. Well october, 2015, is the fast approaching deadline for visa and mastercard to adopt e. M. V. Technology otherwise known and chip and pin for retailers across the u. S. What are the potential road blocks . We have more from new york. I jutcht got i just got new credit cards and they had chipandpin technology embedded. It seems the shift is happening. I guess we can go shopping then. We can. Lets do it. Maybe come back next week. This is a fascinating change going on here particularly in america right now. The vice chairman of risk and Public Policy joins me right now to talk about this. Ellen, i think that people dont realize how big a deal this is. Where all of the merchants in the u. S. Now have, how does this work . Theyll have liability if they dont accept this chipandpin technology at their sales locations . Ellen well, they are in the process right now of rolling out those chip terminals. If you look around you youll see the little slot where you put your chip card in about onethird of the terminals in the market today. Not all of them are activated. Start looking for those today. Merchants will be in a position to offer a much more secure payment experience to their card holders. Why has this taken so long in the u. S. . One of our colleagues is from across the pond and says whats the matter with you americans . Why has it taken so long to adopt this . Ellen a lot of people ask that question. The answer is about a decade ago a little bit more, maybe 15 years ago, the u. S. And europe adopted different paths for controlling fraud so the u. S. Has been the most advanced country in the world with Predictive Analytics to prevent fraud at the point of sale. Youre familiar with that where your bank will call you because they note a suspicious transaction. This is a big data application doing that. Meanwhile, europe decided to adopt this Chip Technology. What were seeing now is the two are cop verging. Converging. Whats visas role in pushing this change along . Ellen well, of course, as you mentioned we set up the structure in 2011 with an incentive that the party with the weaker technology will bear the risk of fraud. So if the issuer hasnt issued a chip card the issuing bank that sends you the card will be the one who pays for fraud. If the issuer has issued a chip card and the merchant doesnt have a term ninl then its the merchant. We set up that structure all the way back in 2011. Its going into play in october, 2015. But very importantly were investing a lot of time and resources into educating, consumers and merchants, about how to use the card, how to implement the technology, and thats what were kicking off for Small Businesses especially this month and Small Business month. This has to lead to a big boom of spending by merchants by buying new terminals. Ellen well, i suppose thats right. As i said, for a few years the terminal manufacturers have been sending out the terminals anyway. With the Chip Technology enabled. Its more about the back end, the message processing and the merchant environment they have to invest in now. Luckily for small merchants they can get terminals that are plug and play and available for less than a hundred dollars. Do you think this is an advantage for visa and that visa will gain more marketshare as the change takes place . Ellen not really. The whole industry is aligned behind this initiative so our competitors, ourselves, large banks, merchants associations have formed a Security Task force and are moving in lock step to get this done. We all believe that security is paramount for the payment system. Cool stuff. Really interesting. Ellen richie visa vice chairman of risk and Public Policy. Thank you. We appreciate it. Emily coming up next, why did United Airlines sue a 23yearold . We take a look at some of the secrets of how Airlines Price their flights, next. Emily this is bloomberg west. Im emily chang. Back in november United Airlines sued a 23yearold who started a website that helps people find cheap flights. How does it work . Well, a lot of airlines use whats called a hub and spokes model for planning flights. Planes lay over in regional hubs before going on to other destinations but what if your real destination is actually the lay over city . Skip lagged helps people find those routes where you can hop off the plane during the lay over and you dont have to take the final flight. Earlier this week uniteds lawsuit was dismissed but it doesnt mean their fight is over. Skip laggeds founder joins us from new york with more. So youre the 23yearold guy they sued. I imagine its good to have united not on your back. Are the legal problems over . As of right now, there is no lawsuit against me but im cynical. Well just have to see what happens next. I dont think its that easy. So how does this strategy for finding flights work . So, hidden city is where your destination is a layover for some other destination. So lets say from new york you want to get to miami t might be cheaper to book to tampa with a stopover in miami. So you just take the fillet you need and skip all the flights after. Emily now this idea isnt new. I mean, i guess it sort of makes sense. Why are the airlines so against it . Why are the flights more expensive to go just straight to San Francisco rather than to lay over in San Francisco . It has to do with market competition. The Airline Might have a strong hold on new york to San Francisco whereas they might not have a stronghold on San Francisco to burbank. So they can charge whatever they want for new york to San Francisco and then charge that for the burbank flight and this just has to do with how the markets work. They want to maximize their profits and theyre against this because this is this is sort of a weakness to how their pricing model works. Emily the vast majority of travelers taking a look at some surveys think this is a perfectly legitimate way to travel even though the airlines dont. Im curious about the technology that you built. How difficult is this to do . Is it something that any of us can do on our own without using skip lagged for example . So the way savvy travelers if you do it before say to get the definition to search on other websites so new york to miami for example they will try to guess, new york to tampa and search it on their website