once again general electric chooses credit. swe says advisory bank it's the vice president is false well who was also a mentor to the minister of defense his chief of staff the coordinator of the merger with general electric. is the husband of valerie chris president of the elder from storage and and the president of general electric fronts cloud again not is the wife of their of a gay male form a human being minister together they are one of the most influential couples on the french right none of these relationships would probably have favored the issue being seriously addressed know them by the french state nor by the opposition is that why the commission of inquiry was never formed the maybe no direct evidence but some questions remain. your dilemma is all oh it's just a dossier if it demoed deja. will. stop and it will bend you see at it you'll see how many operate in a suburb and yet it is all it no me is all saudi city of paris a commune previa talks on it it. is fall from being an isolated case. other leading french com

if general electric had made the largest acquisition in its history than death. patrick crone managed to rid himself of all his problems before retiring of france. had it industry its economy and its sovereignty nevertheless been preserved by our want to borg. was it a total or partial american victory was the alliance with the french the internet. or reality. who. couldn't speak the. truth. on film is. going to go. it is. fine i'm one of these back to the twenty first of june twenty fourth team are no man to book terms the sale of l. storm into an alliance three joint ventures a created run equally by general electric and the first in networks the second in renewable energy and the third in nuclear power it appeared to be an equal partnership between france and the united states. is. going to take. on an oil. price a. she demands of again you. divorce she said every year good. news some ask simple you sure. it was you know that jeep who volunteered. no more. to do chemo resolution i did action they did it at reform and not like wow. you took you know it on his o

the general electric c.e.o. accept and commits to the condition having killed two birds with one stone patrick pop the champagne. has been and its economic and legal difficulties are evaporating into the american sky perhaps the department of justice will even defer the payment of the five patrick crown this is the exact moment when irrevocably became america's. next. that's what he did johnny treat it be a that. and also. so you have the core of the ocean easy to follow elated. fossett so it's kind of a new if you take if you know you know mom dad and they're loaded in about these are doing to me in a way to get f. and c. rules on today's date when as you said go up the army do not see the book is already doing these i want it more for peaceful to general sickly delusional talk is already a problem another contender circuity zero it is you need the great guy to me and he's always he who sees he by the way in question because the devoted to this young . develops. these are truly differences but google more. exce

the general electric c.e.o. accept and commits to the condition having killed two birds with one stone patrick . and its economic and legal difficulties are evaporating into the american sky perhaps the department of justice will even defer the payment of the five patrick this is the exact moment when irrevocably became america. that's what he did genetically it be a that he. said. so you could call it if you see deval in the late people forget it it's an atheist it's one thing to a horse it just kind of a new if you heath ask you know you know mom didn't have boarded up these are doing to me either late to get off and see who else on today's date on this you know solo up the army do i don't see the book is already doing these i want it more for peaceful to general sickly delusional talk is already a problem another country under circuity you know it is you need to create died to me and please always he said by the way and question because they were devoted to the place you. develop some of these are truly diffe

the general electric c.e.o. excepts and commits to the condition having killed two birds with one stone patrick . and its economic and legal difficulties are evaporating into the american sky perhaps the department of justice will even defer the payment of the five patrick crown this is the exact moment when irrevocably became america's. next. that's a giant a treat to be a that. well so you could call it in deval elate people who get it and they don't think once it just given you a few heath ask you know you know mom didn't have boarded up these are doing to me if only to get off and see rules on today's date when as you said go up the army do not see the. indias i want more for before too general sickly delusional talk is already a problem another country under circuity oh it is you need to quit died to me and please always he who sees who by the way in question. were devoted to the christian . develops of these italy differences but google more. exceptional play need the absolute. hundred they look at all the

general electric. harvard law all right now. he has a reputation of being pretty creative in dispositions, acquisitions and allocating capital. taking andnouncing non-cash impairment charge related to power. they will fall short due to the charge. 23 billionower dollar goodwill. wonder the board doesn't say that is one surprise to many are too many surprises when it comes to the number. every time we turn around it is bad news. trying tothe stock calibrate itself. down 5% and up 5%. we will update u.s. a day crosses. it's not nafta, more of the trade pact success. i it sounds like a sneeze of the p record to work on that. this is bloomberg. ♪ alix: this is bloomberg daybreak. more on the breaking news this morning from general electric. struggling conglomerate has named larry culp to be ceo and chairman. he is replacing tech flannery. the power business declines will lead to a shortfall relative to 2018 guidance. ge will take a non-cash charge that will be all of ge power's 23 billion dollars a goodwil

let's compare that to general electric. different, going down by about 75%.aditionally when the annual report for general electric -- electric is set to come out. we will be looking to see what kind of strategy they will come up with. investors are definitely .opeful of hope is happening that this could be the guy after his very successful track record. haidi: that seems to be the initial reaction from analysts. ramy: the initial reaction has been very alleged on the man, -- bullish on the man, but remaining skeptical for g.e. show you in the analyst recommendation function. holds have been widening. the 12 month target price is in white. it has been falling since 2016. you can seeprice, the gaps between the 12 month as the sharell price being pretty wide. we can see that there are five cells --holds, three sells. the change in leadership likely includes a dividend cut, which is not music to investors years -- investor's ears. ceo might not change the current headwinds, p does have a track record of current competence -- accomplishments. see what couldto be t

the generator that produces the electricity is in the truck under the cable drums they hope it will one day replace inefficient diesel generators. turbines are fixed to the ground. will be connected to a base station and fly up to three hundred meters in the air the wind is stronger and more steady at that height. their development laboratory is on the campus of the technical university of berlin. the engineers started experimenting six years ago with fabric kites. when the kite goes up the rope turns the generator drum and generates electricity. then the kite is pulled in again which consumes very little power it's like a yo yo going up and down. over all that creates a surplus of electricity. most of their time is spent doing calculations or in the workshop. they've built the kite and all the technology themselves and they're always having to redesign and optimize. as a mater this is to make as many mistakes as possible in a short a time as possible but i was only once because. i mean we have to learn and the mistakes make us smarter and they make the product safe as asia as it's call

. >>> he has moved tesla shares and general electric shares and yesterday, cbs shares with his ground-breaking reporting. charlie gasparino heading to the studio right now. new details in his pocket on the for sale sign that could soon be

if general electric had made the largest acquisition in its history and if patrick cronin managed to rid himself of all his problems before retiring of france. had its industry its economy and its sovereignty nevertheless been preserved by our want to borg. was it a total or partial american victory was the alliance with the french the internet. or reality. who. couldn't speak to it. on film is. going to go. it is. fine i'm one of these sort of back to the twenty first of june twenty fourth team are no man to book terms the sale of l. storm into an alliance three joint ventures a created run equally by general electric and the first and networks the second in renewable energy and the third in nuclear power it appeared to be an equal partnership between france and the united states. going to take. on an oil. price a. she demands of again you. divorce she said every year good. news some ask simple you sure. it was you know that jeep who volunteered. no more. to do chemo resolution i did action they did it at reform and not like wow. you took you know it on you don't need you to. five m

competitor general electric instead zeman c.e.o. joe k. is here next to the u.s. president at the last world economic forum in davos was in iraq only last month to underscore the company's interest in the job general electric desperately needs contracts for its turbine division and washington allegedly pressed that point with fact that. the current developments in saudi arabia are showing us just now how important it is to keep a good image as an investment destination telling which country is best for investors to put their money can be difficult but there's help from the world economic forum which just released the latest competition index for economies around the world and some of the results might surprise you. it's a highly coveted tree gives one country an edge over another and now thanks to a study by the world economic forum the most competitive economies in the world have been revealed the study's authors looked at a variety of factors including innovation and how dynamic a country's business environment is they were also interested in technological readi

storm into an alliance three joint ventures a created run equally by general electric and alstom the first and networks the second in renewable energy and the third in nuclear power it appeared to be an equal partnership between france and the united states. is. going to take it on those don't think completely agree on an all in place on to place a at our organization part of the tale she moans of again you. are your. device your severed your good as stone knew some ask simple you sure. it was you know that jeep who volunteered. them is no more going to. buy a seat.

if general electric had made the largest acquisition in its history and if patrick crone managed to rid himself of all his problems before retiring waterfronts. added industry its economy and its sovereignty nevertheless been preserved by our want to bourg. was it a total or partial american victory was the alliance with the french the internet. or reality. come to speak to. it. it is. back to the twenty first of june twenty fourth team. turns the sale of else dome into an alliance three joint ventures a created run equally by general electric and the first and networks the second in renewable energy and the third in news.

general electric shopping wall street monday ousting john flannery as chairman and ceo. the stock soaring on that news, closing well into positive territory. the fight for 15 makes its way to big tech. amazon raising its minimum wage to $15 an hour. it comes after the company came under fe f working conditions. maria: an historic agreement, the united states and canada reaching a deal on a new trade agreement. >> it's going to be a manufacturing powerhouse to allow us to reclaim a spry claim chain that has been offshored to the world because of unfair trade issues. >> it's an agreement that removes uncertainty for manufacturers and investors andism proves labor rights for all north americans. maria: home depot co-founder, and author of the book, i love capitalism. ken langone. this trade agreement is called usmca, that's u.s. mexico canada. >> i think the big thing is it brings the stayed deal more into balance with the u.s., canada and mexico. ross perot ran for president in 1992. one of this themes was the giant sucking sound from mexico when they hadn't passed nafta y

general electric with more headlines. revenue is light.ge power organization. the dividend cut from $.12 to two cents. that rings $4 billion of cash per year. this is important for those on global wall street including philipp hildebrand. general electric targets net times.ss than 2.5 that is an important financial variable. that is classic to go into ratios right away. general electric targets sustainable. credit rating narrow. some of those headlines you could have seen on ibm as they rationalized the redhead acquisition yesterday. are we getting enough stories to keep philipp hildebrand entertained on our desk? nejra: he is certainly entertained. we have covered a lot of ground. we went from central banks to markets and europe. let's go back to europe. we were talking about germany a moment ago. italy as well. we had growth numbers through today and we are waiting for the budget standoff between the eu and italy to come to some resolution. are you hopeful when it comes to italy? philipp: difficult to be optimistic when it comes to italy

they may but they also may not we don't need general electric for u.s.nomy to move forward. >> at one point it was the longest -- dow components it was the only dow components that still left n dow jones industrial average 30 companies in -- the original, and that was kicked out it was kicked out of that so that's also something as well. >> it's a sign of the time. you have new dynamics. and i think it is telling of, you know, when you look at companies and new economy growing so large with market caps you know, with in the hundreds of billions and seeing amazon for first time in i'm sorry apple get a trillion dollar mark it is telling you, that vision is important and with g.e. has a shot. so there's different leadership in this market when do you want to do and put new money in this market here with this volatility that we're seeing ever day? >> so we saw a little optimism yesterday we saw the s&p was up and down -- 400 basis point that's a tremendous move. but the fact that it was able and dow was able to recover so much of the losses in the last, you

the successor of pepsi has been well telegraphed at general electric.w pepsi has handled it. professor andi is a senior economist at the white house council of economic advisers. he comes from durham, north carolina. give us a sense of how pepsi has handled this transition. it was not a surprise. aaron: no it was not. they have always had insiders through their history. the ceo is no exception. textbookoking at a transition, one that is typical. we will be watching closely because the new ceo will have challenges. david: just like nco has challenges, you might have said the same thing when mr. flannery came in. he was well known. what went wrong there and what should go right at pepsi in your judgment? great question. you look at ge, only when you're on the job, this is what pepsi is trying to avoid. who has beenmeone with the company for 22 years and not just managed in the united states where the growth of the beverage market should slow down. extensivehave experience in europe. setting them sunday society will understand if reports of the business, a

we'll hear from general electric, aetna, pfizer, coca-cola, under armour and tapestry after the bell,acebook, t mobile, baidu, electronic arts >> how long do you say tapestry formerly known as coach? >> i agree every time i hear it, i'm confused >> every time you say it you think about carole king and that album. >> no, i don't >> well, maybe it's an age thing. a generational thing joining us now is david leibovitz and ed campbell. let's start with you, ed it's been pretty unanimous from everyone we have on that this is a correction and an ongoing bull we'll have a morgan stanley guy on later saying this is a cyclical bear, it will hit bear market territory because most stocks have. you're in the camp that the sharp pull back in stocks in october is another correction in an ongoing bull market, u.s. equity markets are likely to rebound. you sticking with that >> absolutely. you having mike wilson on from morgan stanley >> you read his stuff or do you get our notes? >> i do read his stuff >> mike wilson will be on. i'm glad he's on to get someone to say t righshg it, right, san? >> he'

. >> coming up check out shares of general electric lighting up having the best week in nearly a decade so are we finally seeing the turn around shareholders have been promised? plus it's judgment day for the banks. the financials kicking up oranges next we can and there is one name the traders think could be the big looser. we tell you that and later the good news to bitcoin won't stop where is that rally np spencer goe garratt of blockchain capital says it's here we will back after this. hi, kids! i'm carl and i'm a broker. do you offer $4.95 online equity trades? great question. see, for a full service brokerage like ours, that's tough to do. schwab does it. next question. do you offer a satisfaction guarantee? a what now? a satisfaction guarantee. like schwab does. man: (scoffing) what are you teaching these kids? ask your broker if they offer award-winning full service and low costs, backed by a satisfaction guarantee. if you don't like their answer, ask again at schwab. if you don't like their answer, i'm ready to crush ap english. i'm ready to do what no one on my block has done

that's why general electric is so desperately needing a weatherman hopefully larry culp, the new ceo, knows which way the wind blows. what else? right now we are close to full employment in the united states with no sign of slowing. the federal reserve doesn't mind full employment. when the economy is this hot they start worrying about r runaway wage growth. it could be a major driver of inflation. that's why they have been tightening they want to head off the cyclical tail winds of higher salaries it sounds crazy that people making you more money is bad news, but, hey, i i don't make the rules. higher salaries may be a secular headwind for the stock market. today amazon raised the minimum rage to $15 an hour. let me just say hammered does this mean the fed needs to tighten more aggressively? we'll find out on friday when we get the labor department's non-form payroll report. aggregate wage growth has been anemic for wages in part because of automation and in part, as i just told you, the fed has spent decades actively trying to prevent higher wages this is the classic case where what

we tell you what it meansfare the kbz craze backup but the general electric sharmds in the dark as the company grapples with saving the dividend while executing a turn around. bob nardelli speaking out for the first time you won't believe what he has to say we start off with the market showdown of the decade a chicken fight. yes. chicken fight rage and stock flies high the dow closing at a new high. 7-year high as the 10-year hit highs of the dat of the day stocks began to fall closing near the lows of the session does something have to guf if they continue to rise together what to buy now. >> the chick be -- you have to be particularly good at it obviously. >> yb, years of practice. >> that's his dance. >> when i got married they said no one in the electric slide and none of the chicken dance staff. you play that you are out. when i got to other weddings the first thing i say put my hand up can i do the chicken dance what was the question? does something have to give. >> stocks or -- >> six months ago the concern was 10-year yields above 3% derailing the market now we are not talking

general electric was. twenty it is like a like a cat at the time the for the final tale. for studies as is also offering jon jones is not a space but gigi's no no kind of it and it was subsequently media. says jack reports a lot of three three it. was he sees it. i was particularly as ourselves deposed. he clearly around. and i was just displays a situation where. one two three eight eight ounce jon jones and the by the way. exchanged emission mission. just justice into into a hotel. to yes yes. apparatus once you i i'd and enigmatic. hi i'm doing away with them one by. at he says i. d. price rises rising. stress a creative abilities and mathematicscs have we he what's come comes on so i read resource and greek mass passengers mars merkel. not. the only one that we have come together to climb [inaudible] to this is. but it was. just on the phone from small [inaudible] please. with the is it. in order to tory for also [inaudible] okay [inaudible] extraction. chop chop use you a as a is think your surgery euros oracle if at all possible. twenty twenty twenty zero zero one o

one of our very own yes corner standing by on wall street yes shares of ailing industrials and general electric were getting hammered today there is a quarterly loss of almost twenty three billion dollars what other problems do you see there. well almost everything is going wrong for g.e. at this point jawans the biggest culprit a company here in the united states so well they took the huge charge in the past quarter in the amount of about twenty two billion dollar and now the justice department is investigating those charges the securities and exchange commission as well they pretty much slaughtered the dividend from trail cents to one penny they saw heavy declines in their important power business and the stock dropped by almost nine per cent two years ago g.e. stood at around thirty dollars per share now it's down to about ten but at least the overall market out there we briefly different a negative territory saw quite a comeback in the afternoon up for the day a good four hundred thirty points for the dogs and scored in new york thank you. when britain leaves the european union at the end o