it you are watching bloomberg. ♪ joe: we are back with megan murphy, editor-in-chief of lumbered businessk. it megan, what is next? we do not know the future but what will be we -- we be watching yeah co what will you be looking for? toan: the president has speak further on this. he's a bit of a loose cannon on twitter. it's his son. and whether he tries to launch a more robust defense on this, there are legal it issues involved in that. junior, he's, going to go ahead and testify. i think he's on hannity tonight. megan: it is surprising this level of activity given the legal issues involved. i think there are two major things. it we will be looking to see how senior republicans react as this door develops. we see mitch mcconnell and the people trying to sidestep t questions. we see people putting out these statements. but talkingt this, about health care reform, taxes, the debt ceiling. there are major legislative issues that have very little possibility. joe: which gives us an excuse to show the legislative calendar. i guess we showed it already. a very tight legislative calendar even w

. ♪ >> we are here with the editor-in-chief of bloomberg businessweek, megan murphy.e does look at oil and a discussion of peak oil center than we thought. >> we converted this part of peak oil. it was focused on peak oil supply and what this talks about is that while the man speaking a oil demandshan -- peaking a lot sooner. there has been pushed back on missions and cleaning up the environment. that has led to a quicker slowdown in the demand for oil. that is really pressing on the demand side of that equation. when you think about potential peak demand for oil, there is a lot of cataclysmic things that you can come up with. so many of the world's biggest powers rely on that as a source of their biggest income them -- as one of the biggest sources of income. they are trying to reinvent deal with whato is going to be the decline of oil which has always been predicted but does not this rapidly. obviously, this has the biggest ramifications for the middle east. in the u.s., we remember talking about oil and dependence for the u.s. where we had fracking, national -- nat

and here in studio is megan murphy.hat doesn't mean we should give up, the majority of the senate voted for this in the previous iteration, but president obama d.e note -- obama vetoe the senate majority may have voted for the first time around, but they knew obama was going to veto. hean: let's break down what said there, this is a very different situation that we are in now. the reason why the bill failed is they had a polar opposite abide, the between conservatives who wanted a complete repeal of , someare, and moderates who expanded medicare in their states, some who found medicaid -- to be potentially brittle in their own state that they could not go forward with the bill in its form. they have a divide in their own party between conservatives and moderates. the bill that he is talking and a-- a straight repeal period of two years to come up with an alternative, would leave 32 million more people without health care. number two, how is the american people supposed to believe that the republican party will, with an

." ♪ carol: megan murphy, in the economic section, you look at oil and the discussion of peak oil. ybe here sooner than we thought? megan: we invert the theory of peak oil which is usually focused on supply. what the story talks about his oil demand is peaking sooner than a lot of governments, a lot of executives may have thought. that is down to several factors. electric cars are really gaining in popularity. china's growth has slowed and there is pushback on a mission for cleaning up the environment. that has led to a quicker slowdown in demand for oil, obviously coupled with extraordinarily low prices. that is pressing on the demand side of the equation. oliver: what i thought was interesting is that when you think about potential peak demand for oil, there is a lot of cataclysmic theories you can come up with because so much of the world's biggest powers rely on that for income. in the story none of these institutions really seem too alarmed about it yet. megan: i think it will get more alarmed. the number one example of a place that is reinventing what is doing is saudi arabia

." ♪ oliver: we are here with editor in chief megan murphy. t's talk about the business section, looking at the effects happening between qutar and its arab neighbors. megan: a continuing fallout that keeps unfolding in the middle east between qatar and some of its neighbors. this is what has happened with bahrain, saudi arabia, they are accusing them of harboring islamists and not cracking down on terror. it has been a long-running incident and it is now imploding in terms of imposing bans. one of the biggest businesses affected is qatar airways. oliver: a company doing very well. megan: a favorite of luxury travelers in particular. whether it is emirates or qatar airways, they have clotted for out of nothing over the past two and three decades. moved into routes, competing on long-haul flights with some of the american carriers. there has been a big concerted effort by the american carriers, american, delta, united, to push back on that growth. saying they're basically getting unfair competitive advantages through their country's amends sover

on "bloomberg businessweek." ♪ oliver: we're back with "bloomberg businessweek" editor in chief megan murphyo the finance section and look at santander, a big bank, connected to things nobody wants to hear, subprime loans. megan this story will make : people angry, eight years on, nine years from the crisis we have what appears to be a bubble forming. not in subprime housing loans, which were the start of that crisis, but in the auto market. santander, a spanish banking giant and its relationship with chrysler, but more in the broader sect -- spectrum showing , how the risk is migrating at a low rate environment looking at returns. banks are packaging and selling bundles of these auto loans given out and in many cases, , similar to the housing crisis, not checking underlying credit worthiness of the borrowers. that is the exact same and that is where the parallels lie. to be fair, this is not going to be the same thing where the level of overall broad market exposure is so big it could lead to a spiral. what is important is how we really learn the lessons of the crisis. how much does this sh

." ♪ oliver: we are here with bloomberg businessweek editor in chief megan murphy. s talk about the business theion, looking at some of effects happening between qutar -- looking at some of the effect happening between caps on -- qatar and its arab neighbors. megan: a continuing fallout that keeps unfolding in the middle east between qatar and some of its neighbors. this is what has happened with bahrain, saudi arabia, the uae they are accusing them of , harboring islamists and not cracking down on terror. it has been a long-running incident between them, and it has no really included in terms of imposing bans. -- is now imploding in terms of imposing bans. one of the biggest businesses affected is qatar airways. oliver: a company doing very well. megan: doing very well, voted a favorite of luxury travelers in particular. as people know, whether it is emirates or qatar airways, they are brands that have carved a global footprint out of the last two or three decades, moved into competing directly on long-haul flights in particular with some of the american carriers. t

bloomberg's megan murphy, thank you all very much for being here.et's get a check on where markets stand right now. bloomberg's julie hyman is here with the latest. julie: i want to talk about the market reaction we have seen. it was immediately the emails came out but the market has bounced act, at least stocks bounced back to some extent at this point. it's difficult to ascertain whether there is real concern among investors about what this means, fundamental concerns, or a knee-jerk reaction to the emails coming out, without really much extrapolation about what happens next. you could also question whether indeed investors are really pricing in a real chance of health care or tax reform at this point, whether the rally has happened without those things being brought upon at this time. you see all three major averages little change at this point, s&p consider the worst of the three. financials are what's driving this index down the most great s&p financial index took a leg lower when these emails came out and sort of has bounced near the lows here

joining me now, megan murphy, the editor of "bloomberg businessweek."nd from washington, mike allen, the cofounder of axios. and yoni appelbaum, the senior editor for politics at "the atlantic." it has been a heck of a week. i heard the president before he left for france was frustrated and lashing out over the fact the russia story will not go away. i have heard it suggested by some he saw this story involving his son as perhaps the worst development and worst day of his presidency. we have new developments. more new developments today. we have heard the president has hired a new criminal attorney, ty cobb. megan: they have been looking for someone to come in for some time now to be the enforcer on this probe, figure out how they will react in terms of rapid response, as well as making sure people adhere to a similar storyline going forward. you are right in the sense that it cuts the issues surrounding his presidency as he goes away again. it intensifies. it is getting worse. drip, call it drip, dread. we are almost at flood, flood at this point. you

joining me now, megan murphy. she's the editor of bloomberg businessweek, and from washington, mike allen, the co-founder of axios and the axios am newsletter. and yoni applebaum, senior editor for politics at the atlantic. wow, it's been a heck of a week. megan, i've heard the president before he left for translashing out deeply frustrated over the fact that the russia story won't go away. i've heard suggested by some that he saw the, this story involving his son don, jr. as perhaps the worst development, the worst day of his presidency. so we have new developments. more new developments today. and we've heard the president has hired a new criminal attorney, ty cobb. >> yes. they've been looking for someone to comment to be the enforcer on this probe, to get more discipline on it, figure out how they're going to react to it in terms of rapid response and making sure people adhere to a singular story line going forward. but you're right in the sense it cuts the entire issue surrounding his presidency as he goes aw

i have the best panel with me today and i'm telling you, megan murphy is here. she's about to paw across the table. msnbc political analyst mike taylor. and i just said megan has something to say. nicholas christophe and donna ed wards. nicholas, we have to start with you. all roads lead to the one and only jared. take us there. by the way the president is going to love a headline like that. >> look, the discussion until now has been largely about was there attempted collusion or not? we're beyond that now. we know that there was an attempt at collusion. it's clear from the e-mails, so then the -- >> that's just our life. >> the question becomes how far does it go? and so the next step has tock looking at the connections with president trump himself. and in particular to jared kushner. and the fact that jared was, you know, informed of a meeting whose stated purpose was to advance a russian attempt to interfere in our election. and who then attended, who then omitted that meeting from his f-86 clearance form. and who then, you know -- i mean the most bizarre thi

and megan murphy, an editor of bloomberg business week. welcome back.rt with this breaking news. what can you tell us about this new person we're learning about. >> i think we both are going to struggle a little bit with the pronunciation. >> he was born in the soviet republic of georgia, he moved to the united states in 1991, he was in california where he is a representative as you said of business in the u.s. some additional breaking news we're putting out right now. he was the subject of a congressional report in the year 2000, all about how easy it is for russians and other foreigners to use u.s. banks to launder money. they did a whole investigation about how this man had opened 236 bank account the on behalf of delaware shell companies that he had incorporated on behalf of russian brokers. he has a little bit of an interesting past, his attorney notes he was never charged with a crime in that case. and says he did nothing wrong there. >> rosalind connect the dots if you can. >> i think we're trying to figure out what it means. he's a man that has

we begin with politics talking to mike allen, megan murphy and yoni applebaum. >> some of the thingst are happening, the antics that are happening. this is the personal lawyer of the president of the united states. we talk all the time about the president's tweets and whether they're appropriate or not, whether we're dealing with mika or some of the other things. i do get worried that we are becoming so inured. this is something in the next 24 news cycle, the next event, the next thing we brush off. are we becoming inured as

and i'm joined by megan murphy. sahil kapur i will start with you.hy is it taking so long to get any of these initiatives through? initiativenumber one legislatively was health care. they started off with that. this is one of the more difficult tasks to do in congress. it took failing and trying again and again to get something that resembles universal health care. trump thought it would be so easy, kellyanne conway talking about doing a signing ceremony on the day he took office. it is clearly more difficult than that. toughly because it is a policy and very difficult to get these coalitions aligned but republicans have very slim margins where the senate majority leader has had to struggle uniting them. david: as we'll all know, the president is france. he wased about how eager to get this done. we have a tweet we can put up for you and read for you now. of senateership majority leader mitch mcconnell, they get health care approved. simplify it. is this because the swamp was deeper than he thought it was? are their troubles on his own? alex: i think

megan murphy joining me here in new york. andks are extending gains taylor riggs is here with the latest. taylor: you're seeing green on the screen. we see followthrough here in the afternoon. the dow jones up over 100 basis points. i'm speaking in yield terms here. 100 points. the nasdaq here over 1%. as these major averages rise, take a look to the terminal because it shows a broad-based support we are seeing under that function. it shows all the sectors are green. i will hit gold here because we are on that. look at where gold stands. the fourth weekly decline, we see that drop for the week. that is the general commodity sector down with gold, silver, and bond. >> we appreciate the market update this afternoon. fellow at foreign policy, i will ask what he's watching. we'll get his thoughts on global security infrastructure. this is bloomberg. ♪ david: this is bloomberg markets, the trump economy. >> the highly anticipated meeting between president trump and russian president vladimir putin, mr. trump says he's looking forw

. ♪ oliver: we are back with bloomberg businessweek editor-in-chief megan murphy. finance section. what is this hungarian company? it is a big one. megan: it is a big one but it only had little sales in 2016. the stock has rocketed based on the owner's association to oregon. it has been incredible controversial in what he has done. hungary knows that adapted quite quickly after the fall of the berlin wall. along with so many other eastern economies. since he has been in power, he has centralized authority. he has bolstered resiliency. he has attracted controversy for centralizing control. he is suspected of enriching his friends closest to him. one of those people is the owner of this company. oliver: any credible story in the futurist section, this is the hijacking -- the futures section. you can't not read this story. -- the you didn't, writing is amazing. what is so fascinating about this is that it sheds light on two things. -- getting whole behind the london market, i spent most of my career in london. the lack of transparency in this market, this is a hijackin

. ♪ oliver: we're with megan murphy to talk about this awesome issue. t and from michael. he lived through asian crises and is getting worried. megan: the 1997 asian financial their was triggered by parents at the time spiraling. the point he made in this article which is a very good and important one is that it was predicated on an escorted her rise inextraordinary debt level. link is whats that is going on in china right now. is triggering the same kind of alarm about the intervention by the state, it should be an alarming sign that people forget the lessons of the 1997 crisis. wants shame ony you, pull me twice, shame on me. >> there is no question. what is always fascinating is the reported covered it. says the next crisis isn't going to be similar to the first. >> it may not be triggered by the same thing, it could be a shadow banking thing. the actual tipping point may not be something that we have seen before but there are signals that you can trace in the mortgage market. there are really alarming signs. if we look at those, we could prevent some

joining me now, megan murphy, the editor of "bloomberg businessweek.", mike allen, the cofounder of axios. and yoni appelbaum, the senior editor for politics at "the atlantic."

oliver: we are back with bloomberg businessweek editor-in-chief megan murphy.find a way to win its people off of paper currency. >> this was the shock move by prime minister. he said it was a method to corruption. this is a country where 90% of consumer transactions were done with paper. the scramble to move both of these digital payments which are -- andys from atm's allows them to make this change when physical money is john from the system. >> there is a huge trust deficit when it comes to the digital world, there were to change it is cultural. they are afraid of pushback. >> i think we see this in india and other areas where -- when people start with mobile payments or digital payments, it becomes intrinsic to the community and they accepted and it moves forward and it becomes impartial. when you are trying to overhaul and change a culture into doing something different, that is much harder, in everyday you see huge traction because people had never done these transactions before. it is a very different thing when you are trying to tell people to use their

." ♪ carol: duty with megan murphy. in the economic section, you look at

andlso have sahil kapur megan murphy. speaking to you a few hours ago.his is the third version of the gop health care bill. now, even a repeal one pass. what was senator mcconnell thinking? mcconnell's efforts to put together a straightforward repeal of obamacare have failed with three female senators and saying they will not actually do a vote to have the bill go forward in the senate. this was an interesting political move, it was an attempt by mitch mcconnell to -- in past moves, had voted for the repeal of obamacare. e are in a different political situation of it this has been a disaster. this bill has now failed. but committee exchanges and the health care system under obamacare does have severe problems. both democrats and republicans acknowledge that. insurers have pulled out, leaving a few number of people providing plans under the affordable care act in certain markets as well. those problems are not going away. to dohe president needs and what congress is going to have to do is start talking to each other across the aisle about what is a practi

joining me now, megan murphy, the editor of bloomberg businessweek.ke allen, the cofounder of axios

." ♪ oliver: we are back with editor in chief megan murphy. to find a way to wean its people off of currency, paper currency. how is that going? megan: this was a shock move in november to try and take down the bank notes in circulation, which he said was a method to corruption and cut down on that by taking some of those out of circulation. this is a country where 98% of consumer transactions were done with paper so the scramble to moving to digital payments, withdrawing moneys from atm's, whether they can scale up, whether the digital infrastructure is there to allow them to make this change when that amount of cash is withdrawn from the system, is a problem. carol: is there a way to change it, i feel like it is cultural? there's a lot of pushback. megan: we see this not only in india but other areas of africa in particular. when people start with mobile payments or digital payments, either it becomes intrinsic to the community and they accepted and it moves forward and becomes part and parcel, or but when you are trying to overhaul and chan

." ♪ oliver: we're back with "bloomberg businessweek" editor in chief megan murphy to talk about more the magazine. let's go to the finance section, tell us about this from a hungarian company. megan: it is a big one. only sales of $900,000. what this story talks about is how this stock has rocketed based on its owner's association with hungary's prime minister, who has been incredibly controversial in what he has done. everybody knows that hungary developed quite rapidly after the fall of the berlin wall along with so many other eastern european economies but since the president has been in power, he really has centralized authority, bolstered the resiliency in terms of lack of reliance on imf and funding, but has also attracted controversy for centralizing control. he is suspected of enriching his friends close to him, and one of those people close to him is the owner. oliver: an incredible story in the features section that we want to talk about, the hijacking. carol: it is a movie, almost. oliver: you cannot read it without thinking about the movie. even if you have not seen it, t

. ♪ oliver: we are back with megan murphy to talk about more must reads in an awesome issue.e some of the opening remarks here? you solicit the input and the analysis from michael shuman who economicough asian crises and is getting a little bit worried about what they might do next. then: this goes back to 1997 asian financial crisis as one that people have forgotten. and whattpaced by 2008 we call the global financial crisis. but it was triggered by baht.ing of the thai it spiraled. on an predicated extraordinary rise in debt levels as a percentage of gdp. he traces that again to the extraordinary rise in debt before the global financial crisis. and as that debt level rises, this is triggering the same kind of alarm bells, some of the massrate action for numbers that should be an alarming sign. and people forget the lessons of the 1997 crisis, they have been replicated. only once, shame on you, for me twice, shame on me. fascinating to me is the reporter that covered the financial crisis, that we don't learn the lessons. it will not be similar to the first. it may be a type

." ♪ oliver: we are here with editor in chief megan murphy. let's talk about the business

. ♪ oliver: we are back with bloomberg businessweek editor in chief megan murphy to talk about must reads about the opening remarks, you solicit the input and analysis for michael schuman who lived through asian economic crises and is getting a little bit worried about what might be next. then: this goes back to 1997 asian financial crisis, one that many have not forgotten because it was so vastly outpaced by 2008. whichian financial crisis was triggered by a deep linking of their currency at that time is what he is making a point in this article, a very good and important one, it was predicated on an extraordinary rise in debt .evels as a percentage of gdp he traces that to the extraordinary rise in debt we saw before the global financial crisis in 2008, and where he takes that link is what is going on in china as the debt level rises, that this is triggering some of the same kind of alarm bells. if people forget the lessons of the 1997 crisis, they have been replicated. carol: it is so much, i feel you,for me once, shame on for me twice, shame on me. is alwayst fascinating to me as a re

joining us for the big cover story is bloomberg editor megan murphy. a little bit of insight into the story here, but first of all, who is boris epstein and what is his relation to donald trump and sinclair? familiarvin is quite with boris, a consistent presence on the campaign of a very vocal advocate of donald trump very early supporter during the campaign and is known for his views, the way he puts his views, in particular. sinclair, he is doing these nine minute long segments where he dissects political views and takes on the white house and sometimes reprimands it and the other media on how they cover politics this season and donald trump in particular, this cycle. it's a much broader issue about sinclair and this large broadcasting firm but very few people are not familiar with. their tactics and sort of really trying to expand this network using very low-cost methods and , blendingroduction advertising in with their broadcasting as well. it's a fascinating story of media in the age of donald trump. julia: i want to show you the expense on which

health care was delayed after senator john mccain abby phillip, bloomberg business wooek editor megan murphyegist and former trump campaign team member michael caputo. and abc news political analyst matthew dowd join us. how all-concerning is this? >> why hasn't the president been owl selling his agenda, health care. the answer is, there's been a lot of other crises happening. putting aside the foreign trips he spent the last couple of weeks overseas trying to do some things on foreign policy, beyond that, there is a real difficulty in getting thing on his schedule that are outside of washington that and policy. and instead, we know what the president is doing with some of his time because he tweets about it almost every single morning. >> he seemed paralyzed by this, megan. this is one of the dark eer moments of his presidency, seeing his son dragged into this. we went three days, four days where the president had nothing on his public schedule. >> he has almost intentionally removed himself. we're in the middle of an epic battle about what should be the signature legislative information he

lloyd blankfein with a wonderful cover and megan murphy joins us this morning. it a different gobin or the one we've always mone? >> the same goldman sachs talks about lloyd. we can't understate how improbable it is that lloyd is still the c.e.o. of this bank when you look what's gone on since the crisis, almost personally blamed, a bank that was symbolic of the excesses of the entire industry and personally blamed for shorting the housing market and his own personal battles against lymphoma these come back from and what's interesting is he's a rejuvenated presence in the bank but tied the bank to much of the same business mod tell has in the past. we have earnings starting today obviously with jp morgan coming out and a quarter that's with a lot of volatility. tom: does he miss mr. cone? megan: i don't think there is any missingness between either of them. tom: what about the battle in washington? we talked with kevin surly about this attorney memo. what i want to know is ohio and portman, in the health care debate you've done reporting on heroin, opiods in rob

we are joined by megan murphy and bill:.hill republicans may have to choose between pursuing another health bill and pushing through tax reform this year. there is not time to do both and to make matters worse there are some must do items in september. theress must fund government at the end of the month and lift the debt ceiling. china mr. president xi jinping says his military has the ability to strengthen the rise into a world power. he saw -- oversaw a military parade which saw chinese forces. he is interested in making the military a leader force capable of projecting power overseas. errors are deliberating in the federal securities fraud trial of martin shkreli. on friday they heard closing arguments by prosecutors and using him of looting his own drug company. the defense insists there were no victims because everyone got their original investments back and even made the -- hefty profits. i am mark crumpton, this is bloomberg. >> is mark was reporting, anthony scaramucci has been removed from his new job as white hous

is former assistant special watergate prosecutor and back with me my panel, michael steele and megan murphykind of confirms the whole russian connection. as you look at this you just see there are more and more interconnections with the russians. paul manafort who was there is a $17 million man who got money from the ukrainian president who was beholden to putin. you've got him being brought to the dance by none other than roger stone, trump's campaign operative who only a few weeks later was communicating with both sides of the theft of the hillary clinton e-mails. he was communicating with communicating with julian assange the wikileaks person who was publishing this russian hacking. what you're finding here is more and more what were allegations before now seem to have a lot more credibility. >> a lot more credibility. michael, put your former rnc chief hat on. what did gop leaders do with this new news that doesn't stop coming out even if two days ago they said, listen, it was just a meeting. 20 minutes. nothing came of it. the fact that more information comes out and yet another person

we begin with politics talking to mike allen, megan murphy and yoni applebaum. >> some of the thingsre happening, the antics that are happening. this is the personal lawyer of the president of the united states. we talk all the time about the president's tweets and whether they're appropriate or not, whether we're dealing with mika or some of the other things. i do get worried that we are becoming so inured. this is something in the next 24 news cycle, the next event, the next thing we brush off. are we becoming inured as

scarlet: let's get the latest from megan murphy. they have done it.lfilled their campaign promise of repealing obamacare. no, they haven't. all they have done is agreed to debate health care. >> we are looking at three options moving ford, all of which face a torturous path. one is a full repeal of the aca. scarlet: that would fulfill the campaign promise. the lastone of holdouts rand paul voted to proceed because they would get to this repeal. it is unlikely to get 51 votes. the second is repeal and replace from the house, full of problems in terms of medicaid cuts, expense, cbo score, popularity, and the technical thing about parts of that. that is another problem. there is the third path, the skinny repeal, which would unwind some unpopular parts of obamacare, the individual , forcing employers to make sure people have health care, and the medical device tax. that's been talked about the bit. joe: it seems like the skinny repeal, i don't think i heard anyone talk about it before today. it feels like there is a lot of momentum. i did not see medical

with us in studio, megan murphy. maine coming up and sing she will not vote yes to this procedural vote. what do we know about the other holdouts? kevin: i'm texting with a senior aide at the republican national committee saying the excitement is cautious but real in terms of the republicans feeling they do for enough votes to proceed the debate on health care reform. what will they vote to proceed on? that is what is unknown. either a full repeal of obamacare or a repeal and replacement. i've been speaking with several republican sources all day who essentially say this is what is going to be for president trump considered a political victory. he will try to seize momentum and try to push health care reform over the finish line. he will speak at the white house at 3:00. also later tonight in ohio. the debate is far from over. megan: it's amazing when we see a procedural vote opening the door to debate -- scarlet: there's plenty of momentum driven by john mccain's return to washington. do we presume that he will vote

bloomberg businessweek with a relaunch by megan murphy. i cannot tell you about our new issue.ret route. there is the old issue. -- it is under secret route. -- it is under secret wrap. it has a celebrity. ♪ guy: 5:41. i am guy johnson. tom keene in new york, bright and early. it is -- sorry to say, tom. combatbetween to help terrorism funding, quite insufficient according to a statement that are imposing a blockade as u.s. secretary of state visited saudi. our reporter joins us from dubai. you said we have a pair of secretary of state, bouncing back, they call the shovel diplomacy. this is a diplomatic and producing it outcome -- if it diplomatic and producing it outcome? >> they will get some ideas and they signed a deal in this memorandum around terrorism financing would possibly unlock some doors when they sit down with the saudi block them and intothursday -- bloc thursday. on the qatari side, let me run you through what the saudi led bloc said after the deal was signed "the 4 countries reentered -- reiterated cooperation of the just, that will ensure terrorism is a dresse

i have -- i don't know what megan murphy and her team did, but they did something this week.ames. the great cover says it all of the cacophony of facebook, amazon, and the rest and a more political story on sinclair and the conservative angle, the will ofation if you conservative tv in america. people are talking about this. stay with us. ♪ ♪ taylor: this is "bloomberg ," i am taylor wakes. there's more trouble for wells fargo. regulators are asking about mistaken data breach. a lawyer for the bank accidentally released data for 50,000 accounts of wealthy customers. they are still dealing with the fallout from the fake account scandal last year. tore will be no big changes the oil production cuts crude oil oil has been in a bear market and there is skepticism the cutbacks are working. producers are betting that rising demand and the existing curve will deplete oil stockpiles that is your bloomberg business flash. tom: thank you so much. we have a chart taylor riggs would love to do this is a great chart. we do this in honor of the great career of callum henderson. these are c

going to release its plan on tax reform sometime in august and the working principle -- i thought megan murphyen she said the president and the white house are learning it is hard to take a way things once these programs already exist. tom: that would be true. whether predicted as well. kevin cirilli, our washington correspondent. robert sinche has seen all of this. he is just old enough to remember tip o'neill and tax reform as well. what do you do at amherst pierpont given all you have just heard from mr. cirelli? do you just ramp down your expectations on the vector of gdp? robert sinche: we have taken down growth projections over the next four quarters a little bit has we didn't expect to see more progress than we were getting. what you are finding interesting in the discussion in the last couple of weeks is that everything is the discussion in the senate and how the senate might reach a compromise on health care legislation and on tax reform. nobody is talking about the house. comes to taxhen it reform it might be more difficult to get that through the house than it will be through the se