Bloomberg eleven three O. Taking Stock continues broadcasting live to New York, Bloomberg eleventh, Yo to Washington, d C, Bloomberg to Boston, Bloomberg Tell to San Francisco, Bloomberg nine to the country, Suis Exam General one nineteen and around the globe the Bloomberg Radio plus Athene Boomberg dot Com. This is taking Stock. I'm Kathleen Hayes at taking Stock live from the two sixteen US Tennis Open or at the U s t A Billy jen King National Tennis Center,
Bleshing Meadow, Corona Park, Queens, New York City. This is a premier event for tennis and for the region every single year. We're gonna be speaking shortly to two of our sports business team's finest, Scott stash Nick and Evan Evan Nooby Williams, to talk about, certainly to an extent, who's here, some of the top players, but also the sponsors that are here, the business that's here, the money that this very important event generates. I'm Caffeine Hayes. My
call host Pim Fox is on vacation. And then uh later in the half hour, Bill Stone from P and C. A lot of people from a financial services industry come out to the open. He's here, he's going to talk to us about stocks. Let's get to Charlie Pellett back at Bloomberg World headquarters. He's got a Bloomberg business flash and I thank you very much, Kathleen Hayes. People with knowledge of the matter say TPG is among potential bidders
for Intel's computer security unit McAfee. The people who asked not to be named say the private equity firm has held preliminary discussions with Intel about a deal that could value McAfee and as much as three billion dollars shares of Intel. They're up now by two tenths of long percent. Stocks are falling amid tumbling crude prices and sluggish manufacturing data, spooking investors before key payroll data tomorrow morning that may
provide an indication about the direction of interest rates. ALIL now falling to the lowest in almost three weeks after US government data today showed crude supplies at the highest seasonal level in more than twenty years. Stephen Short is president of the Short Group, and he sees the oil slide continuing. We're at a com of the year that the peak season recruit oil demand is over, to peak season for gasline demand is over. So with this Labor
Day weekend, we now transition into the fall. And this is the maintenance season for refineries. So refinery demand for crude oil in the United States and in other key markets in the Northern Hemisphere will drop off significantly over the next two months. And right now where you have West Texas, Eno Media crude at Fort barrel down three point four percent, rank crew down three point two percent. And now let's look at some of the other stories
making news. Charlie, thank you from the Bloomberg News Room. I Mark Crumpton. Donald Trump says if he becomes president, he'll rebuild America's military and reform the veterans administration. Trump spoke this morning at the American Legion Conference in Cincinnati. O Hi, we will be united by our common culture, values and principles, becoming one American nation. Hillary Clinton addressed
the conference yesterday. Ahead of this weekend's G twenty summit in China, President Obama is calling for a global effort to fight climate change. President speaking at the annual Lake to House Summit in Nevada, says places like this nurture and restore the soul, and we want to make sure that's there for our kids too. To keep these waters crystal clear, to keep the air as pure as that happens, to keep alive tiles spirit. President Obama later flew to
Hawaii for another conference on conservation. The President told the audience he would push China to take further steps to protect the environment. Michael Barr Bloomberg Radio. In South Carolina, a federal judge is holding a closed hearing on evidence and Dylan Rooth's trial in the Charleston church shootings. Is accused of killing nine black parishioners in June of today, the judge ruled and open hearing could compromise roughs ability to receive a fair trial. The Grammys could be making
a comeback in the city. The Big Apple hasn't hosted the awards and more than a dozen years, but plans are reportedly in the works to bring them back. The Post reports the city wants to see the Grammy's return for the show's sixtieth anniversary. In ten local news twenty four hours a day, powered by more than twenty hundred journalists and analysts in over one hundred twenty countries. I'm
More Crumpton. This is Bloomberg, Charlie, and we thank you, and again recapping a mixed picture of for US Equities SMP down three a drop of two tenths of one percent. I'm Charlie Pellett. That's a bloom Bird business flash. You're listening to taking Stock with Pim Box and Kathleen Hayes
on Bloomberg Radio. I'm Kafee Hayes. My co host Pim Fox is on vacation, so I solo have the pleasure of being live a the U s Tennis Open, Flushing Meadows, grown apart Queens, one of the premiers Grand Slams of the year in fact in but here probably toos it is the premier Grand Slam tournament in tennis. Very interesting afternoon. The rain had cleared up, now it's pouring. All court
play is closed except under central court. That retractable roof just finished for US Open is being used again as Andy Murray, uh, the number two seeds struggles to move ahead and fortunately that was not stopped by rain and has not stopped. Taking stock with my producer Sam Langa might Field producer Charlie Bohmer we go on, joined by two more of Bloomberg's finest and that would be Scott Slashnik and Evan Nobi Williams, Rob Bloomberg Business of Sports Team, gentlemen, welcome. Hello. Well,
you know we're gonna talk about business and returns. You sure could say this retractable roof maybe is already paid for itself this year the star of the show. They made it the star of the show before the tournament. They wanted everybody to know, we've caught up to some of the others. We've got our roof. Although I was there on test day when the roof opened and then Billy Jean King hit the button once and it didn't close.
She hit the button twice and it didn't close. So I don't want to say that they were rooting for Rain, but the chance to show it off and have the broadcasters say walk but give us seven minutes and we'll be playing again. This has been the star of the show this year. This is playing out perfectly. They made a big point to say that Nadal hit the first balls underneath the new roof. You know, yesterday played out
exactly how they wanted till he was quoted. I mean he seems to be kind of thrilled that he was the first guy to win on Center Court under the closed roof. But you know what other players saying, I'm here that they they're glad that it's less windy. But there's some problems with shadows, and there's some problems with noise. And you wouldn't realize if you're not a big tennis fan that love these top players. They listen to the ball that they can hear the spin of the ball. Yeah,
that's why they like quiet when they're playing. They actually can hear the sound tells them what kind of spin is on the ball. But Evan and I were watching on TV the other day and the first thing we said when we glanced up was look at that weirdly shaped shadow right down the service line. So the ball is in the sun, in the shade, in the sun, all in one service. That cannot make the players happy. And then sure enough they did complain about it afterwards.
And let's not forget this was a decision that was made not for the players, obviously, this is a decision made for the people that carry the TV rights, who were upset that the Men's Final was being played on the next Monday every year, seemingly because rain was keeping forcing play to be pushed forward. Yeah, it's harder to sell. You sell ads for a Sunday prime time sporting event and then rain happens and it gets pushed to Monday and a third of the people are watching. That makes
that makes advertisers unhappy, it makes TV networks unhappy. Letters around this place, around the fairground a little bit exactly, But you would think that's kind of Aren't the players happy if they can just get it over on Sunday for the men or whoever's not rained out that day? I guess they're used to it in so many of the tournaments they play, because they play over the world at all weather. Sure. Yeah, I think the advantages to the players you mentioned there's there's less wind, which is
a big thing. Uh be. We saw the Men's final last year there's a three hour rain delay. I'm sure players like the idea that they know that that's never gonna happen again. On the biggest matches, and let's remember who plays the big court. These are not your lesser known players. I mean, these are the stars of your game, and this is nothing more than entertainment, whether it be the n b A or baseball. This is all star driven.
So when he's not here right now, but if Federer and Nadal and Murray and Serena, if they're complaining, you've got a problem. You have to keep them happy. So what kind of money are we talking about out here? For the sponsors, what kind of money they put in, what kind of money they put out the advertisers. It's huge. I mean, the just let's think about the schedule. There's it's two weeks to play here. You know, it's not a it's not a one day sporting event. It's two
weeks of play. You think about the clientele that comes out here, A lot of people from the upper echelons of the New York social scene. For example. They make a point every night and there to show the most famous people that are in attendance. It's become hey, it's a sporting event, fa B. It's also just a scene to go to and that's the best possible thing for an event to have, and it's great for sponsors. I mean, let's just look around right now from our advantage point.
Right now, I mean we're outside the main stadium. I look over to my left and I see the Heineken lounge. I can see JP Morgan Chase load is everywhere. I mean even if I was in a helicopter, maybe I could see it. I've got two Mercedes vehicle sitting right here. Citizen citizen clot branding exactly. This is about reaching a certain consumer. Uh. None of these companies operating a vacuum. This is a piece of their total puzzle. But it's
it's an event in New York. It gets primetime, major coverage, and I mean it all goes down to even on the net. You will have the the JP Morgan Chase logo on the net, and those two even changed throughout the matches. So I mean it's a piece of the puzzle and how they choose to utilize that. The women's winner every year goes to the JP Morgan Chase headquarters and chats with executives. So it's just a piece of the puzzle. But all four majors have their own little
thing about them. In the US, opens thing is the glitz and glamor of New York and the skyline and the in the night games, all of that. This is exactly what the event in terms of sponsor strategy or how much they get out of this. How does this stack up to something like a football super Bowl, the NBA playoffs and see a march on what I just said. I don't think you weigh one versus the other. I mean you measure R O Y and your totality. How
do you use your sports in totality? Not just one thing? Okay, guys, I gotta put on the spot you watched in a severe year or the Open. You have to watch it all year long. So wh who's gonna win On the men's side, Man, who's gonna win it? I have no idea who's gonna win it? Certainly Nadal looks like he's healthy and and looks great great yesterday. Djokovic not having to play a second round match I think certainly helps him with all the both physical on and off the
court issues he's been having. Um, certainly they're the two favorites. Is the women's Slam dunk Serena as close to us can be. But you didn't win the last major, so it's always somebody new. See if they can topple Serena. That's always the game here at seven Open. Williams part of our Bloomberg Business of Sports team. They'll be around tomorrow wiping them down on some more matches. I'm Kathleen Hayes. We're live with the US Open. This is Bloomberg Live at the US Open. A lot of the big shots
from Wall Street. We're gonna be speaking to Bill Stone, p n C Bank. You're gonna take a look at stocks. Auto sales were a week. The Fed is going to take a look at that job support tomorrow. This is Bloomberg