Bloomberg's Levin on Issues Surrounding Rio Olympics (Audio) - podcast episode cover

Bloomberg's Levin on Issues Surrounding Rio Olympics (Audio)

Aug 05, 20168 min
--:--
--:--
Download Metacast podcast app
Listen to this episode in Metacast mobile app
Don't just listen to podcasts. Learn from them with transcripts, summaries, and chapters for every episode. Skim, search, and bookmark insights. Learn more

Episode description

(Bloomberg) -- Taking Stock with Kathleen Hays and Pimm Fox. GUEST: Jonathan Levin, Latin America M&A reporter for Bloomberg, reporting from Rio de Janeiro, on the social and economic outlook for the Rio Olympic Games.

See omnystudio.com/listener for privacy information.

Transcript

Speaker 1

Global business news twenty four hours a day at Bloomberg dot com, the Radio plus Mobile Act and on your radio. This is a Bloomberg Business Flash from Bloomberg World Headquarters. I'm Charlie. Howbout stocks climb to a record? This update brought to you by Sector Spider et f S. Why buy a single stock when you can invest in the entire sector? Visit Sector sp t r S dot com or call six Sector e t F. Just getting word from Berkshire Hathaway second quarter operating EPs twenty eight oh

three estimates for twenty nine ten. More details on Berkshire halfway as they've become available. SMP five hundred index climb to our record today after the better than expected jobs report. SMP five hundred index heading into the weekend of two up eighteen points again today of nine tenths of one percent. Down Industrial is up one points to eighteen thousand, five hundred forty three, a gain there of one percent, and naz Dak up fifty four points to fifty twenty one,

a gain of one point one percent. Gold down twenty five dollars the ounce to thirteen thirties seven, a drop there of one point eight percent. The ten year down twenty four thirty seconds, the yield one point five eight percent, and crude Oil West Texas Intermediate CREWE down point one percent to eight barrel. I'm Charlie Public. That's a Bloomberg Business flash. You're listening to taking Stock with Bim Box

and Kathleen Hayes on Bloomberg Radio. Since winning its bid for the sixteen Olympic Games seven years ago, Brazil's Reo de Janeiro has undergone a construction boom. It includes new sports venues, subway connections, and more infrastructure, but it has also been marred by political scandal and a suffering economy. Here to tell us more is Jonathan Levin. He is Latin America m and a reporter for Bloomberg News. He can be followed on Twitter at Jonathan J Levin and

he justus from Rio de Janeiro. Jonathan, thanks for being with us tell us about the games and what has marred the opening programs so far. Kept him good afternoon. So um, you know, as you mentioned uh earlier in your program, the people have been talking a lot about the week economy and some of the fallout from that, right, I mean Rio de Janeiro is a population and already uh,

sort of delicate population. And so when the when the economy dips into recession like this, uh, you know you're you're you're looking at some more desperate, desperate people in the streets. Um. You know, there's there's been a slight uptick in petty crime around the region, and some of that has actually affected, um, the athletes and the games themselves.

One of the examples we saw, um i think yesterday or the day before, the Chinese basketball team was that was actually caught in the crossfire of a of a shootout near one of the slums. Fortunately nobody was hurt, but not that not the sort of headline that that you want to see a few days before the opening ceremony, hardly Now. One of the flagship transportation efforts this has to do with Rio building a new subway extension. It was supposed to link popular beach areas with the neighborhood

with the Olympic Park is located. Can you tell us more about that? Yeah, I mean, so the controversy um erupted when people realize that they weren't going to be able to actually open this subway line until literally a few days before the games. Uh. The good news is that it is now open today and people are actually using it. They haven't opened it for the general public. It's only open for the use of what they called the Olympic family, right, so athletes themselves, trainers, members of

the media. Um. But so far, so good. Um, insofar as the people that need to get to the Olympic Village for events are able to do so using that metro. Jonathan, what about Zeka, the Zeka virus and efforts to prevent greater infection. Yeah, so, you know, obviously it created a lot of concern in the in the run up to the Games. The interesting thing to remember, though, is that we are in winter here in here in South America. It's uh, it's particularly cold. It's it's even colder than

a lot of winters right now. And health officials believe that that in a number of other factors, their their their own, um, their own efforts to cut down on the mosquito population have worked, and they are claiming that the chances of an athlete or a tourist actually getting ZEKEA are close to zero. Um. So, I mean that's interesting to bear in mind. The Zeka scare has has also created opportunities for some companies. One of the interesting things is off has has an important role around around

the games. You know when when I picked up my my press pass down at the Olympic village a few days ago, they give you a backpack with with some swag in it, and one of the things is a a an Off bug spray. Right, So off is getting its brand all over all over the Olympic Games. Jonathan tell us about the security that has been put in place for the athletes and for the spectators. Sure, so five thousand security personnel. Those are members of the armed

forces and police. And uh, you know, it feels unlike Rio de Janeiro ever has Uh there there has been a pointed absence in UH important tourist regions of Rio de Janeiro in the years passed since I since I've lived here. But it feels completely and utterly utterly different since about two weeks ago. Uh, everywhere that there is a stadium or uh an event or tourists gathering. Uh you see you see folks walking around in camouflage carrying

heavy duty weaponry. So UM, at least visually, UM this deployment should we hope scare off, you know, the kinds of crime that have afflicted the city in the past. What did the citizens of Readisionneiro think about the Olympics? Yeah so um interesting question. Obviously, the the the mindset has changed quite a bit since two thousand nine. We have this image of Brazilian celebrating, uh, the winning of

the of the Olympic Games today. Uh. We had we had a we had a survey that came out recently suggesting that about half of of Brazilians are not happy to have have the Games here. And a lot of it I think is just about the optics. You know, the country is going through a deep economic recession. A lot of people are out of their jobs, and when billions and billions of dollars of being spent on a mega event like this, uh, it doesn't it doesn't look

right to some folks. Thanks very much. Jonathan Levin, Latin America mergers and acquisitions reporter for Bloomberg News, joining us from the site of the Olympics and Rio de Janeiro, Brazil. He can be followed on Twitter at Jonathan J. Levin. Thanks for joining me on taking stock. I'm pim Fox. This is Bloomberg Coming up Bloomberg Laws. Brought to you by T two Computing, a new kind of I T

solutions company for workflow, mobility, and infrastructure. Let them explain how their expertise can help you gain greater business value. Visit T two computing dot com for more information.

Transcript source: Provided by creator in RSS feed: download file
For the best experience, listen in Metacast app for iOS or Android