Broadcasting live to New York, Bloomberg eleventh, Yo to Washington, d C, Bloomber to Boston, Bluemberg twelve unders to San Francisco, Bloomberg nine to the country, Channel one, and around the globe the Bluemberg Radio Pluck Davin Bloomberg got gone. This is taking Stock. Coming up on taking Stock, We're gonna be speaking about Hispanic owned businesses. Do you know that
they are the fastest growing segment of the small business population. Well, we're gonna be speaking with the chairman of the Latino Coalition. We've got Hector Barretto. He's gonna be talking at the also, and just to mention, he wrapped up the sixteen Small Business Conference in Washington, d C. Yesterday which he spoke and we're gonna learn about what the messages is for small business. And of course it's an election European and we know the whole question of immigration and Hispanic vote
is very important. Hectors been coming to down that on the show in past. We will get that into the mix as well. Now I want to get Charlie Pellet back in the mix. Iss the limit Business flash Man. We've got twenty nine minutes to go Kathleen before that closing bell on a Thursday, the day after the Fed decisions. Stocks now rallying SMP five hundred index up six to two thousand seventy eight, a gain there of three tents of one percent down Industrials of one oh three now
up six tents of one percent sum to. Redstone has removed five members of the Viacom board, reasserting his controlling stake in the company and setting the stage for the removal of renegade CEO philipp Domin shares a Viacom. They're up now by five point four percent. Equities have recovered from a one percent sell office. Both sides suspended campaigning on whether Britain should leave the EU after a Labor Party lawmaker Joe Cox was murdered as she met constituents
in her electoral district. Ian Robertson is a member of the management board at BMW. It has eight thousand direct employees in the UK. He was on Bloomberg Television today talking about that Brexit vote. I was asked many times today do you have a plan B. The answer is no, because honestly, we don't know what those implications are and there will be a period where that can be well considered. They might be just small, incidental, there might be no
implications at all. On the other hand, maybe things are going to change a little more dramatically. But honestly, we will have to wait and see before we take any view on what the results would mean for our strategy in this country. Gold is now down four twenty arms, declining three tenths of one percent to four and a three thirty two on Wall Street. Let's take a look at other news from around the world on Bloomberg Radio. Thank you Charlie from the Bloomberg Newsroom and Katherine Cowdery.
This news update is brought to you by the deep Grand Cherokee, the most awarded suv ever. The Grand Cherokee continues to raise the bar with its luxurious interior and legendary four by four capability. Drive one at your local jeep dealer. Today. A British lawmaker has been shot and killed today in her district in northern England. Temporary Chief Constable West Yorkshire Police D Collins says a suspect is
in custody. A man was arrested nearby by local uniform police officers, weapons including a firearm have also been recovered. The attack on Joe Cox has prompted both sides as to spend campaigning today in the battle over whether Britain should end its membership in the European Union. It's an important find in the crash of an egypt air jetliner. Bloomberg's Michael Barr has the details. The cockpit voice recorder of an egypt airplane that crashed last month has been
found and pulled out of the Mediterranean Sea. Egypt Air Flight eight oh four was heading Comparis to Cairo when it plunged into the sea. All sixty six people on board were killed. The data recorder could provide details as to what brought down the airb s A three. Egypt's Investigation Committee says the soul called black box, has been adamage, but the memory unit, which is the most important in
the recorder, is intact. Michael Barr Bloomberg Radio. Police Commissioner Bill Bratton says there have been a number of threats made against gay bars and nightclubs in the city, but none appears to be credible. Broughton says whoever made the threats in a wake of the Orlando nightclub shootings are quote cowards Global News twenty four hours a day, powered by our journalists in more than one hundred fifty news
verreaus around the world. From the Bloomberg Newsroom, I'm Catherine Cowdery, Charlie, and we thank you and again recapping stocks are trading higher, with the SMP five hundred index advancing seven points, rebounding now to two thousand seventy eight, up four tenths of one percent. I'm Charlie Palatin. That's a Bloomberg Business Flash. This is taking Stock with Kathleen Hayes and Pin Fox on Bloomberg Radio. Hispanic and Latino owned businesses, they are surging,
they are growing. They're the fastest growing segment of the small business population. And here to tell us more about them and about the annual Small Business Summit that just concluded in Washington, d C. Is Hector Barretto. He's the chairman of the Latino Coalition. Mr Barretto, thank you very much for being with us. Thanks for having me. Tim tell us a little bit about the event, the summit
event yesterday in Washington. What were some of the takeaways. Well, we've just been as one of our most successful conferences that we've ever had. We've been in business for twenty one years as a Latino coalition, but we had a lot of interest and we had a lot of business owners, came from all across the United States, and we're really tackling a lot of the issues that are on their minds. The regulatory environment. They're complaining there's too much of it
and they need strategies how to navigate that. They're looking for different kinds of businesses that they can get into, and they're also very interested in technology. How can technology allow them to be more efficient and more effective. They understand that that's a love or of the playing field. So it's a great conference. Three day conference is probably
one of our most successful ever. And we also had a lot of elected officials both sides of the aisle, very interested and what's on the minds of Hispanics, especially as they go into these fall elections. You know, how are those concerns any different from any small business person, any entrepreneur in this country. A couple of months ago, you had an up in the Wall Street Journal noting that the economic engine in America is it still it's
twenty seven small businesses? You say, the presidential candidates aren't tapping into this again, anything different about with Hispanic Hispanic entrepreneur needs versus anybody else. You you hit it on the top of the show. There's so many new ones. There's four million Hispanic businesses in the United States. This grows every single year. They're generating six entred sixty billion in revenue, and demographers tell us that those numbers could
double every five years. So you're right, Hispanic businesses don't need anything different than any other businesses. They need what I call the seas. They need capital, they need capacity, which is really technical assistance, and they need contracts with
the federal government and also Corporate America. And that's who we were talking to over these three days when we were in Washington, Mr bur I don't wonder if you could give us a little bit of detail about the Latino Coalition and its stand for example, on online sales taxes. I note that you've written about that as well as many of the other issues. Well, you know, we have a lot of businesses that are now looking at this whole area of e commerce and they just want to
make sure that they have a level playing field. Oftentimes they're competing with a lot of larger companies that might uh, you know, be selling things not only in their brick and mortar but also online. Oftentimes small businesses don't have the same kind of resources, the same kind of capacity, and so we had folks, for example, from the Direct Selling Association that we're there. A lot of activity is
starting to take place there. You're talking about a multi trillion dollar market and it's a way that small businesses can also reach customers in different countries, in different localities. So that's something that's on their minds as well. But at the same time, you know, cost is critically important.
Big businesses sometimes can absorb additional costs in terms of taxes, in terms of regulations, small businesses can dr I have to ask you because you were the US Small Business Administrator, UM from let's see, from two thousand one to two thousand six, you worked under George Bush, George W. Bush, former president uh Donald Trump presumptive nominee and all that. Are you going to vote for Trump? What do you
think of him as the next president? Listen, we're doing some polling right now, nationwide polling, and we're getting a lot of headwinds from a lot of our business owners you know, Latino Coalition doesn't indoors. And I haven't made a decision yet myself, but neither one of these two candidates are talking enough about small business, and as you said, we feel that that's the engine of America. But they're hitting a lot of head winds right now. So we're
gonna be paying a lot of attention to that. But I will tell you, and I'm just telling you initial results of this polling, and we're gonna do the events at both conventions, the Republican Convention of Democratic Convention, but we're getting eighty percent negative ratings and these are from Hispanic Republican voters on Donald Trumps. Eighty percent negatives from
Hispanic Republican voters on Donald Trump. So obviously he's gonna have to moderate his message if he's if he's really good a plan on getting a lot of Hispanic support the way he says he's going to. What is the Latino Coalition's message when it comes to Bill Ackman, the head of Pershing Square Capital, Well, we don't deal a lot with Bill Ackman, but Herbal Life is one of our key sponsors and we and Herbal Life does a lot in the Hispanic community has a lot of US
Panic businesses that are working for him. You know. Uh, the actment's attack on Herbal Life is something that we don't really get um and so you know, we're we're gonna be monitoring that situation. I think that's died down a little bit. But Herbal Life is one of our key sponsors. Were glad to work with them. They participated in this conference, and as I said, I think that they're providing a lot of opportunities for a lot of
Hispanics in the United States. Well, let us know when you got the results of the poll ready, we will. We're gonna be releasing that right before the conventions. And we have a new app that the Latino Coalition. You can get more information at the Latino Coalition dot com and people will be able to get the polling results directly off of this app. Sounds great. Actor Bretto, thank you so very much. He's chairman of the Latino Coalition,
former US Small Business Administrator. He says, no candidate is addressing the needs of Hispanic entrepreneurs in particular, or entrepreneurs in general. Enough. This is taking stock on blueboard radio. Coming upon taking stock, what do you do with your money and if you lean it to the government for ten years, you'll get one point five seven percent. That's the question we'll put to Jonathan Golub, chief equity strategist RBC