victims of bernie madoff ponzi scheme are set to recoup nearly $600 billion at the start of 2018. trustee in charge of recovering funds from the scam said more than half of madoff's customers who submitted approved claims will have regained their lost investments in full. 73% of the says that total lost principal has been recovered so far. in austria, sebastian kurz has been sworn in as chancellor . the people's party struck a deal with the national freedom party. it was designed to preempt concerns that austria could stray from the european union are crushed the welfare state. sebastian kurz is 31 and is the youngest leader in europe. global news 24 hours a day powered by 2700 journalists and analysts in over 120 countries. i am mark crumpton. this is bloomberg. david: thanks so much, mark. south african deputy president grippingopponent in a battle for the ruling party to put them on track to become the nation's next leader. here's michael cohen with us from johannesburg. let's start with what happened because we just reported who want, but how sure are we of that? by some report

victims of bernie madoff ponzi will begin the new year with new checks.total payouts to $11.4 billion and mean more than half of bernie madoff's customers will have recovered their lost principle in full. that was your bloomberg business flash. let's dig into some of the bigger stories. the u.s. has vetoed the united nations security council resolution as the designation of jerusalem is israelis capital. the council new washington would kill the motion come up but supporters wanted to show the opposition.bal nikki haley used her first united nations veto to block the resolution and was very much in focus. let's take a listen. >> what we witnessed here today in the security council is an insult. it won't be forgotten. it is one more example of the united nations doing more harm than good in addressing the israeli-palestinian conflict. act ofor the simple deciding where to put our embassy the united states was forced to defend its sovereignty. is our still with this guest. as you listen to nikki haley and look at what is happening geopolitically in the regi

monday is the 9th anniversary of the arrest of bernie madoff who ran the largest ponzi scheme in history. >>> tuesday is the first day of the jewish fevlgt of life. happy hanukkah, everyone. >>> and voters in alabama will be choosing between republican roy moore and democrat doug moore in the race for the senate. >>> on tuesday retailers will raise interest rates thursday is the day to see the month of november. and folks go digging in your sweater bus friday is national ugly christmas sweater day. >>> the holiday season is upon us and this year consumers are expected to spend more than $680 billion, but what if you have no idea what to get joining us now is dan ackerman from cnet to talk about every tech budget. thanks for being here. >> thanks for having me. >> you have the google home mini and the amazon dot. >> they are excellent devices. they're both about $29 from $50. >> $29 that's crazy. >> you can add them on to the existing echo or google devices. >> they work the same way. if i say alexia, what's the weather. >> you can say alexia to the dot or, hey, google, what's the weather

monday is the ninth anniversary of the arrest of bernie madoff, who ran the largest ponzi scheme in history day of the jewish festival of lights. happy hanukkah, everyone. and voters in alabama will be choosing between republican roy the race for the senate. on wednesday the federal open market committee is widely expected to raise interest rates. thursday we'll be seeing how the retailers actually fared for the month of november. and folks go digging in your closet because friday is national ugly christmas sweater day. >>> the holiday shopping season is upon us and this year consumers are expected to spend more than $678 billion. but what if you have no idea what to get? joining us right now is dan ackerman from cnet to tell us about the very best tech gifts for every budget. thanks for being here today. >> glad to be here. >> if i'm on a budget there are a couple of hot new things that are out there. the echo dot.gle home mini and which one's better? >> they're actually very, very similar devices. they give you answers to questions. they'll tell you the weather. they control smart home st

paths as well -- her knowledge of their career paths as well. ,oming up on the european close bernie madoffetail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. vonnie: it is noon in new york, :00 p.m. in london and 1:00 a.m. in hong kong. >> welcome to bloomberg markets. vonnie: from bloomberg world headquarters in new york, hero the top stories on the bloomberg and around the world. house and senate republicans have an agreement on a final tax bill. lawmakers adding a last-minute provision that delivers a multimillion dollar windfall to real estate investors. espn is sending shockwaves through the media space. the president of the sports network resigning, citing a substance abuse problem. bitcoin futures made their d

bernie madoff victims are about to get another $584 million return that will bring the total to almoston. we talked with the trustees already returning more than half of the loss principle and they say that more is still on the way. ♪ shery: the republicans sweeping tax overhaul is expected to hit the president's desk this

vivtims of bernie madoff's ponzi startingll get checks in 2018.hat will boost the total payouts to almost $11.5 billion. it would mean that more than half of those who submitted claims will have recovered their losses in full. willholders at mcdermott control 53% of the entity, with the rest going to investors. the combination of the two major construction companies will have an annual fee of $10 million. that's the bloomberg business flash. francine: the eu's michel barnier set out a hardline on brexit. that comes ahead of the meeting of theresa may's cabinet, as she attempts to bring together the different factions. welcome to the program. this is the first time they sit down and talk. >> yes. francine: how is that possible? >> for the last 18 months, the british government has been avoiding the question of brexit. so much of this is about what it is like to be british. one of the things it is to be british is avoiding difficult conversations. the cabinet cannot agree about what they want out of brexit. fabulouslymost british thing ever, they ha

. >> bernie madoff laid out a great -- i don't want to be hyperbolic -- >> that is a fair point. >> andcoin. >> and opening money. >> talking about bit coin. >> i listen to 1000 deal today. why do i listen to a proven criminal like you? >> the bottom line, you want to defuse and avoid that, you know i am right. >> talk about bit coin for 31/2 minute. stuart: i'm coming up on a hard break. jordan, jonathan, thank you very much, appreciate it, interesting discussion, didn't mean to set up a firestorm. let's get to the democrats reaction to the tax bill, listen to what steny hoyer had to say. >> the main issue is this is a bad bill, bad for our country, it will create great debt and perverse in the sense that it gives 83% of the tax cuts to the wealthiest in america. stuart: 83% of the tax cuts for the wealthiest, senator pat toomey, republican pennsylvania joins us now. >> a lot of nonsense, we have been hearing it since before the bill was unveiled, before it was written, democratic colleagues were attacking us about a bill they hadn't seen a did not exist. it is instructive to look at w

legislature keep assuming they're going to earn 7.25% or so on their assets which is a pipe dream, bernie madoffbrown isn't in the cell next door to him. stuart: ooh, strong stuff there. >> it's true. absolutely true. you can't keep lying to the people, you got to be honest with them. i'm going to be honest with the workers. if you remember in detroit and rhode island where they address the pension debts, the workers took the pipe. they got cut. my message to the workers of california is you can't have the situation continue. they're going to have to contribute more. they're g to have to lengthen out retirement ages. stuart: give up 401(k)s, you got to do it. >> absolutely. stuart: i have to cut you off, i apologize. john cox, candidate for governorship of california. thank you so much. >> thank you. stuart: the markets at this moment show a gain of 31 points. but look where we are. 24,614. who would have thought a year ago? unimaginable. we'll be back. you can't predict the market. but through good times and bad... ...at t. rowe price... ...we've helped our investors stay confident for over 75