my point is a decade on from the start of the financial crisis, the g-20 is building an efficient and resilient financial system that serves all of our domestic economies and secondly, supports sustainable cross border investment and economic activity. as the global recovery strengthens and broadens, now is the time to take advantage of the hard won gains. that means completing this journey from fragility to resilience by ensuring that shadow banking is fully transformed into resill yenlt market based finance. that durable market insfra structure is put in place. that we complete the job of ending too big to fail and that emerging vulnerabilities are addressed in a timely and consistent manner. it means adjusting reform measures to maximize efficient resilience and avoiding unintended consequence. and it means recognizing that because risk to financial stability are constantly involving, we must work together to identify those vulnerabilities in a timely and consistent manner. this is increasing reliance on the regimes when they achieve similar outcomes. a decade on from the financial

tremendously harm the financial well-being of consumers and society. therefore our plan imposes the toughest penalties in history for financial fraud, for self-dealing, and deception. we will hold both companies and individuals accountable for wrongdoing, but we will also make sure that due process is always honored. no one should be shut down by the government. next, our reform plan repeals the mr. scott and unneeded volcker rule. the volcker rule was unnecessary and it capital markets less liquid which was even confirmed by a recent federal reserve report. in addition falconers made our markets more fragile and undermined financial stability to the financial choice act include provisions to unleash opportunity for economic growth including numerous provisions that will help foster capital formation and provide main street job creators with regulatory relief so more americans can go back to work and have good careers and get their family a better life. so i have gone through just a few of the specifics, but let me borrow the financial choice act down t

lastly, we listened to the nominee for terrorism and financial crimes all on those issues and we want to make sure his ties do not affect their ability, the secretary for treasury, terrorism and financial crimes nominee, to do their jobs. thistary mnuchin: i take responsibility seriously. i reviewed the cases weekly. writing reports to me. i can assure you it there any cases that involve the president for any members of his family, that they would be treated very seriously and we would review them like anything else. senator brown: but the public needs to know as you review them. thank you. chairman: thank you. senator: thank you for being here, and i know you heard secretary chairman crapo's commitment to housing reform in his opening comments. i know you have some tax reform issues and others to deal with, but it is my sense you are committed to dealing with housing finance reform in an appropriate way, is that correct? secretary mnuchin: that is correct and it is something hope we can do in a bipartisan basis. >> i think the only way to do it appropriately where you deal with charr

the toughest penalties in history for the financial fraud and deception. the reform plan has to overrule that made capital markets less liquid which was even confirmed by the recent federal reserve report. in addition, they've made the markets were fragile in underlining the financial stability. financial choice act includes provisions to unleash opportunities for economic growth including numerous provisions that will help foster the formation of the job creators with regulatory relief. we will never again bailout of wall street bank, period. the big bank bailout is over. [applause] for anyone that engages in fraud and deception, tough penalties await the gang you're due process rights will be restored and if you maintain a strong balance sheet we will release you from the shackles of the micromanagement and to be the best thinker that you can be and to help rebuild the economy and to be successful and not vilify it and we will once again let freedom reign from sea to shining sea. i begin my remarks by recalling the universal agreement from the greatness o

will you get a complete list of trump business associates and financial ties to ensure that any foreign entanglements are benign with respect to the laws you enforce, money laundering, ritc associations and the like, would you commit to us to get a complete list of trump business associations -- associates and financial ties because of the threat they could have to ensure that they are in fact benign? mr. mnuchin: i did review before i came today to make sure that my staff had fully responded to all the inquiries from you and the committee and i believe we have. if there's -- if there are outstand questionings you had from letters that you sent us, please make sure you follow up with me after this and we will make sure we are responsive. in regards to your specific question, again if you send me a note on what you're looking for, we will review internally whether it's appropriate to come from us or somewhere else and we're happy to be responsive to you. senator brown: thank you for that but the letter was march 2 it was not answered, i'm asking it again, i will follow up with a letter a

financial regulation should help insure a safe and sound financial system, but in a tailored manner to help grow and maintain a healthy economy. we want our nation's banks to be well-capitalized and well-regulated without being drowned by unnecessary compliance costs. undo regulation imposes cost and burdens on financial institutions and companies, often disproportionately on smaller ones. for example, community banks and credit unions lack the personnel and infrastructure to handle the overwhelming regulatory burden of the past few years. yet in many ways, are treated the same as the world's biggest institutions. our regulatory regime should be properly tailored and avoid a one-size-fits-all approach. one area i would like this committee to address is the $50 billion threshold for regional banks. in prior hearings we've discussed whether $50 billion is the appropriate threshold. i hope we can work together to craft a more appropriate standard. my goal is to work with you, secretary mnuchin, senators of this committee, and financial regulators to look for ways to improve regulation and

there is a clash between national security and financial interest of the government, and the intellectual property interests of contractors on the other hand. generalize want to the dynamics and individual cases can vary, but i think that sets an important precedent in that way. >> what is the most important misconception you come across in this work? ms. epstein: that torpedoes are boring. a lot of people have not heard so national -- secrets act, they don't know this story about interested in classifying information as secret is one that kicks into high gear at wartime and then they government turns more liberal until you get to the early cold war. everyone agrees the gloves come off. part of what i am trying to say is you can actually find the government doing the things in wartime that it only does supposedly in peacetime. i think it has a great deal to do with changes in the government, more broadly, changes in the economic context in which the government and defense contractors operate. i think a lot of it is the pressures of attempting to -- to prepare for war. if you want nav two

last week, we listened to the nominee for terrorism and financial crimes. those are important issues, and we want to make sure that it is ties do not affect their ability to do their jobs. i can assure you i take the city is responsibility very seriously. i review the cases weekly. my team reports to me on it, and i can assure you that if there were any cases that involved the president or any members of his that it would be treated seriously and we would review them like everything else. sen. brown: the public needs to know that. thank you, mr. chairman. mr. secretary, thank you for being here. i appreciated our conversation last evening. you heard chairman crapo's commitment to housing reform in his opening,. i know you have tax reform issues and others to deal with, but it is my sense that you are strongly committed to dealing with housing finance reform in an appropriate way. is that correct? sec. mnuchin: that is, and it is something i hope we can do on a bipartisan basis. sen. corker: i think the only way to deal with that appropriately, where you deal

and the financials were always everywhere the poster child for the so-called trump rally and the financialsre actually down for the year, same for energy which is supposed to be beneficiary of trumponomics. the stock market is doing what it's doing and i don't know if donald trump has anything to do with it. as bob farrell, my hero, lven said one of the 10 market rules to remember is exponential rapidly prizing markets go further tan you think but don't correct by going sideways. this has nothing to do with donald trump, it's just the market doing what it normally does which is actually breaks out sharply at the highs and see if the highs will be sustained is the more important question if you're going to drive looking through the front window, just as at the lows when you get a dramatic decline to the lows like march of 2009 and people are there talking about the s&p going to 500, well, that never happened either. so it's very important not to extrapolate the last couple weeks or months into the future. nejra: david, if we talk about the reflation trade and trump trade i have to ask you ab

saudi arabia wants foreign capital and has taken steps into one of the most conservative financial marketshis week marks two years since the decision to allow money managers to trade saudi shares directly. we spoke with jp morgan meta ceo sjoerd leenart. ipo's in excited about the broader region. there are quite a few drivers. we have the government agenda of trying to privatize companies and create a private sector. that is a key driver. and that will go over 2018 and 2019. and private companies, they will need to take advantage of an increase in investor demands coming in the next three years, driven by development and changes in the market, and the stock exchange and accessibility of the market. yousef: how big overall -- how big of a real are you playing? gulliver confirmed that they have the aramco ipo, will you do the same? >> we do not talk about the deals until they are out in public, but we have been here for 80 years and we have helped key institutions for many years, so we expect to play a pivotal role not only in the mna, not 'sly the ipo's, but the mna and financing. shery: jp

financial regulation should help insure a safe and sound financial system but in a tailored manner to help grow and maintain a healthy economy. we want our nation's banks to be well-capitalized and well-regulated without being drowned by unnecessary compliance costs. undo regulation imposes cost and burdens on financial institutions and companies, often disproportionately on smaller ones. for example, community banks and credit unions lack the personnel and infrastructure to handle the overwhelming regulatory burden of the past few years. yet in many ways, are treated the same as the world's biggest institutions. our regulatory regime should be properly tailored and avoid a one size fits all approach. one area i would like this committee to address is the $50 billion threshold for regional banks. we've discussed whether $50 billion is the appropriate threshold. i hope we can work together to craft a more appropriate standard. my goal is to work with you, secretary mnuchin, senators of this committee, and financial regulators to look for ways to foster economic growth while maintaining

it needs to be told of the class between national security and financial interest of the government on one hand and the , intellectual property interests of contractors on the other hand. --t list case seems to me bliss case one doesn't want to , generalize the dynamics and individual cases can vary, but i think that sets an important conceptual precedent in that way. >> what is the most important misconception you come across in this area of work? ms. epstein: that torpedoes are boring. common misconception? a lot of people don't realize that -- a lot of people have not heard of the national defense secret act, so they think the story about the government, the classification oriented government interested in classifying information as secret is one that really kind of kicks into high gear and wartime and the government turns more liberal again and less secrecy obsessed in peacetime. then you get to the early cold war. everyone agrees the gloves come off. we have a full-fledged national security state now. part of what i am trying to say is you can actually find the government doing th

entry of chinese banks into the us and for china they are opening the market to us natural gas and financialces firms and credit rating services. the us commerce secretary says that this deal should actually reduce china's trade surplus with america by the end of the year. on the campaign trail president trump did a lot of sabre rattling when it did a lot of sabre rattling when it did to china. he has not did what he threatened. after the meeting with the president in florida it seemed like the situation is you scratch my back and i will scratch yours. thank you. interesting mix of politics and economics there. there is not a secular driving force in the markets at the moment. —— particular. we know the us central bank says it is ready to hike interest rates. the uk central bank ta kes a interest rates. the uk central bank takes a different view about the uk economy which is predicted to grow faster than the german economy this year. this is what is happening in europe so far. in percentage terms not much movement. this is france, merck on redefining the relationship between france and germa

>> with icon builders and financials. relatively early and we are pretty much stayed in inside the safe are the market rally overall. if you pick certain sectors of the market this till have room to run and homebuilders financials are both going to benefit her and some of the new economic policies that will eventually be implemented under the trump administration. the pace of these changes under trump has been slower than many had had when he was first elected. we still think that will happen eventually in those sectors will benefit. lauren: what exact is that telling you about the market? >> well, the treasury market and equity markets have been telling different stories. a lot of investors had been expecting interest rates to increase this year. a bit lower on a year-to-date basis. there is a big move following the election, higher interest rates and they really settled into a range so far in 2017. the inflation readings have been coming down a bit. we think that's temporary. inflation will be pushing higher is the year

you have many big banks and financial institutions. german government, those who decide to leave, some entities to goyou have many bigd financial institutions. to continental europe to be within the eurozone , it is my opinion they go to frankfurt are he and we will have to see that. it is my understanding london will remain a very important financial harbour for companies of europe. reporter: dominant or important? jens: we will see how it develops. i am a member of the german government. we want frankfurt to be, play an important role in financial operations and in the future, but i would say there is enough room for two or three in europe. london will of course remain important, very important financial harbour. reporter: banking brings balance sheet exposure. the financial crisis has taught many people around europe they are not the finances they want on their doorstep. jens: it is what regulation is for, and we have done a lot, implemented a lot in the past years to avoid what has happened in 2008 and 2009, the financial crisis. ad

and 2018. earnings is the support system for the financial markets. t underlying dynamic, there are opportunities to invest. vonnie: we just heard mick mulvaney saying we will have a 3% growth rate, don't worry about it. 1.9% is pessimistic and crazy. where do you think the current economic thinking is at in the administration, and is this doable? >> the range for us is between 1% and 3%. to get to the upper end of that range, a lot of things have to come to fruition that may or may not happen. we would like to see loan growth for the financial stocks continue. we will like to see industrial spending continued. even with the anemic first quarter preliminary estimate of 0.7% quarter over quarter, business orders were up 9%. that means a lot for industrials particular, which we are overweight. vonnie: industrials and financials are your top holdings in that particular fund. are you banking on regulatory rule change, or is it purely a tradeon of jumping into a that is pretty successful? >> regardless of who one presidency, hunting or trump, -- clinton or

and i wanted to ask you how you feel about the financial side of this investigation and that question about whether or not your committee, the other investigatory bodies are really capable of following the money here. >> you know, it's a really good question because you really need forensic accountants. you need fincen operatives that would be stationed in our committees to kind of do that work. certainly the fbi has the ability to do that but our committee staff really needs to be buttress be more experts who can follow the money and the money is really what will give us the answers, i believe. >> can you get that? what would it take to staff up the committee with more experts, more full-time staffers than you've got right now? would that need to be a congressional appropriation passed and signed by the president? >> well, there has been an appropriation offer to the committee and the staffing-up is taking place. i believe there is one person from fincen who has been out posting to the committee. there's a potential to have that kind of expertise with us as we delve into these issues

, because they were not safe and sound enough prior to the financial crisis. and it becomes critical now that they are to ensure that they're fulfilling their role in society and in the economy to support economic growth and in an appropriate way. and in that context, that's really what we need to be thinking about and just to sort of provide a little bit of a framework around that, you know, in the u.s. alone where we've got sort of two times the international standards, that reflects a gold plating that's worth about $49 billion worth of incremental commonality to one. that's about $600 billion worth of incremental capital held at institutions that could be lent into the economy or deployed to shareholders or reinvested. why should we care about that? again, the fundamentals of economic growth. we've seen through this election and around the globe, it's not only about growth. it's about consistent participation in that growth. and we've seen that broadly speaking, not everyone is participating in the opportunities that they should be and it's time for us to b

what we have sought to highlight and the benefits, of course, a global financial services that are offered the way to eu-based investors, pensioners, and corporations, but global issuers and financial market participants is just that, the benefit of global citizenship. it was decided that clearing should stand at the heart of the world's financial services. i think that the efficiencies that come and the risk reduction, the risk elimination that comes from centralized clearing in the world's over-the-counter derivatives market, the largest financial asset class, is fully understand -- understood in europe, including by the commission, whose recent proposal was quite balanced and offered several ways forward including shared regulation, which is a framework we already operate between. anna: and you are mindful of the costs this imposes on people who want to do this business? issue because of the business you operate. are you already losing any business because of concerns that euro clearing will be forcibly moved from london to the eurozone? mr. rolet: not at all. flows are actually increas

you talked to some people and you think we're in the middle of a financial panic. date, up 30% from the lows of first quarter of last year. there's good nice in the market and to get aggressive here i need to see more decline. >> well said, good perspective. stephen, the appointment of the special prosecutor, robert mueller, who is getting props from both sides of the aisle. does that do anything to reset investors' attention on the policy agenda, especially with two hearings going on about the economy this hour. >> absolutely, sara. so i think what the appointment of the special counsel does is it puts some boundaries and stability around at least the set of allegations against the white house and swirling around the president regarding anything involving russia. of course as we have seen with this white house, it's -- it can always create new issues and completely new areas. but if you're focused on the legislative side and particularly investors are focused on tax reform, the only -- the real issue right now is a procedural one. there's this process in washington

regulations. >> and we could have but we never had that in the financial crisis. we didn't have anything like the indictment and conviction of richard whitney. we didn't have anything by government that pointed fingers at who had actually done criminal or at least blamed worthy things. i think that -- part of that was the people in government didn't really want to just didn't want to do it and didn't want much more ambitious reforms. >> it pointed to what per tained for several decades after the 1930s which was not the coziest relationship between corporate america and regulatory state around consumer investment and protection but a more constructive engagement rather than outright antagonism or an effort to make sure the regulatory environment was as minimal as possible. >> eddie murphy and dan acroid. >> yes! >> i am wondering if he should open to up to questions from the audience. >> absolutely. >> there we go. so, i think we have sort of been dancing around a lit but perhaps the panel can comment on the co-opting of the regulatory environment and scheme by camp

many countries are investigating financial institutions linked to 1mdb. andross the border. it has been partially affected as well, of course, according to the managing director of the central bank. the two year—long review holds key lessons for both it and financial institutions in singapore following abuses linked to the 1mdb fund flows, they say. he went on to say that the price for keeping them clea n that the price for keeping them clean as they grow in size and interconnect is vigilance, according to him. so, yes, these fines being forced on these two banks. they are not the only ones under scrutiny. there have been others as well, with fines adding up to $20 million of penalties. eight different banks here. thank you so much, sharanjit leyl it is two months since british prime minister, theresa may, started the process of leaving european union. how are businesses reacting to the news? well, in different ways. anita massarella is an exclusive dress designer based in the north of england. her average dress sells for over $12,000 and she imports her mate

inyes, we started the year pretty good shape would bond yields doing higher and financials were doingcials got creamed when bonds fell. if the yield is going to continue to move, you will see a lot of volatility in financials and real estate. how do i view the long utilities trade? can you be long utilities and still be long financials questio. >> i think it's a hedge against financials? utilities work best when rates go lower. those two can work as a hedge against each other and very nicely. i have a bloomberg user that says the authorization for stock buybacks is down and there is research out of goldman sachs at that says the boards are worried about extremely high valuations. does that square with what you are seeing? cheap. the market is not it is highly valued. it's like paying $25 million per year for a picture. you expect a lot out of it and we expect a lot out of the market. for the moment, we are getting its way understand that boardroom mentality that valuations are high and this is not a cheap market, it's many years of the bull market but for the moment, it is working. jo

so meeting and financial ties with the two. sia inquiry, looking at whether donald trump tried to get the former fbi director to drop key parts of the investigation. at any atany time at any time did you urge the former fbi directorjames comey in any way shape orform fbi directorjames comey in any way shape or form to fbi directorjames comey in any way shape orform to back fbi directorjames comey in any way shape or form to back down the investigation. no. no. next question. after the president fired the last man leading the inquiry, it feels with this appointment that the russia investigation can get back on track but there are many who feel that donald trump, for whatever reason, is not behaving like a man who wants that. aleem maqbool, bbc news, washington. one woman has been killed and 19 other people injured after a motorist drove into pedestrians in new york. the car was driven at high speed on the pavement for three blocks near times square. the driver, an armed forces veteran, was arrested. it‘s thought to be a drink—dri

and yield down. you will see the financials go up and down there. think that's much more important, moving the financials today than whether we will have deregulation of the banking system, which is what is part of the republican agenda. >> okay. what about the big fang stocks in technology, apple has been setting records, so has amazon and so forth. they're down today. do you look at those as a one-day decline and maybe scoop up a few there? >> well, i mean i think the market is fairly valued to slightly undervalued. i think tech is doing great. yes, it might go down another 2, 3, 4%, but six months, a year from now, by the end of two years, i think you're still going to have some very, very healthy gains in the market, yes. >> professor siegel, given that trump is still our president for the time being, what kind of moves would -- could he also make that would have the same effect of reassuring investors about the agenda, and is it on him right now or is it signals that might come from congress that say they're moving this along? >> it is on him. w

i think y, glass-steagall should be country d and get our back to stable financial market. host: thanks. will be like his the sleeper issue, people feel strongly about this. the year when there are so many issues because this change from ch a the obama administration and president trump promised so the including shaking up system, i think there is, we are crowding -- ee a really are only certain issues the same an move at time. i think this one of banking and reform is important because it has potential to affect the economy and because caller, have a e lot of residual feelings about how the financial crisis in 2008 affected everything from jobs to income to housing. tommy, oxford, alabama, democrats line. caller: yeah, i think big banks ught to be broken up and i think we would wouldn't have went through the recession if hey would have locked up bankers, instead of giving -- example is the current house i live in i inherited from y mother, the particular big bank was under consent order by putting out still fraudulent documents. then you take the attorneys that fraudulent d

financial crisis. we saw that after the asian crisis and the financial crisis here.here is a separate point, which is that even if you settle at very low levels of real yields, even if in some sense they are in equilibrium, there is a very low, very negative real return. it is a very costly asset to be invested in. the point i am making is investors outside of the united states have not yet experienced that. it is only now that we are starting to see that if you accumulate assets a negative real return, you can be lucky if yields compress in the short run and you can bring forward some of the positive return at a very short term frequency. .he yield catches up with you ultimately, if you buy german government bonds with a negative real return and hold them, you will generate a real negative return. you can have a six-month, 12 month, 18 month reprieve or you go lower, but all that really means is the respective negative yield return will be greater. that is the critical point. the interesting thing about treasuries is you have five years now of negative real return.

to change that, but says you may want to reconsider using a print for things like banking and other big financial transactions. for "on the money" i'm andrea day. >> so how can you protect your phone and computer and stay ahead of the hacker's next trick? steven grossman is head of strategy at bay dynamics. it's a cyber dynamics company. great to see you. i use my fingerprint touch all the time. is this the hacker's next big trick? how safe am i? >> if you look at the security on the devices, you have many different ways of securing your devices. just like any other security, it's a matter of balancing security and convenience. how many locks do you want versus how much inconvenience do you want to be when you enter. >> the manufacturers point out now, too, that having that fingerprint has encouraged a lot more people to put security on their device where they may not have had that four digit pass code before. let's talk about other hack attacks. over global ransom wear attack called wanna cry. it mostly hit businesses, but i know that there's a ransom hack attacks are becoming more prevalent. wh

with customized loyalty programs and data-driven insights, synchrony financial can help bring more...ower to your business. >> the congressional budget office and wall street economists think the next decade will be more of the same. >> we reject that pessimism and say we should have gone in and assumed 3.5 to 4% growth that. would be aggressive. >> if we don't bring >>> we are following the ceo shake-up at ford. joining us now, bob lutz, who also held senior leadership positions at ford and bmw. great to see you. i would love to get your take on this ford ceo transition. it seemed a few months ago, we were talking about north american auto sales with a record. we are going to be bringing production back to this country or keeping it here. now, this ceo moving into seems all directed at some future that seems to be coming a lot faster. what's you initial read? >> my initial read is despite good performance at ford, the stock price was stagnant. they have had to cut some production. so the board was getting increasingly nervous. i think what you have got nowadays is with this future of

we will discuss the mission and funding as well as the financial and editorial challenges that a standardup news organization faces. washington journal is live from arlington, virginia beginning at 8:00 a.m. either on c-span. >>> and a ninth circuit court of appeals in seattle will hear oral argument in state of hawaii v trump. the ninth circuit court of appeals granted the request to air the argument live and we'll have it for you on c-span monday starting at 12:30 p.m. eastern. >>> next an adviser to the british government on its negotiations to leave the european union talks about the impact of brexit on the future of u.s./uk trait trade policy. it's an hour and 20 minutes. >>> good morning. welcome to the heritage foundation and our douglas and sara allison auditorium. we welcome those who are joining us on our heritage.org website. as well as c-span this morning. for those in-house we ask that courtesy that our cell phones and other mobile device have been silenced or turned off. and for all those watching online or on television you're welcome to send comments or questions at any time

and a recent survey found more than half of the parents whose kids returned feel more stressed, financial strain and they lose out on leisure time. it's not all bad. it can work. joining me is rosemary lictman author of "whose couch is it anyway"? rosemary, thank you for joining us. >> thank you for having me. >> when did this begin? >> it got a lot worse when the great recession started, and the main reason then was an economic one. student loans are about $1.4 trillion. normal students an average loan is about $30,000. so the student loans were an issue and low employment rates why certainly a problem. and under employment where kids weren't getting the kind of jobs that paid them the money they needed. >> so if that's the case and your child has experienced independence and self-reliance while they've been away from you, how do you make it work once they returned to the nest? >> so one of the things that we've come up with is using the cc&r routine to help families talk to one another and how to get along. when you're living in a planned community or living in a condo cc&r stands for w

keep an eye on financials and technology that led the market higher and financials are pulling back theill be watching that sector. ashley: bill, heather brought that up and financials doing so well. look at numbers, b-of-a down 6%, goldman sachs down five 1/2, morgan stanley down nearly 6%, are you surprised by that? >> that's a pretty tough move obviously. that is exactly place we think there is an opportunity. if you believe the economy will continue to move along and interest rates will move up over time, treasurys are way down today in terms of yield. so that presses on the group. if you think this is really just flight to safety trade that comes off, i think it ends up being a real good opportunity is specially in nasdaq sector getting pounded. ashley: doug, heather, i mentioned big tech. those are stocks we follow every day. money pouring into the big five, fab five, amazons, facebook, netflix, do you still like those? >> we like technology -- ashley: this is for doug, sorry. go ahead, doug. >> no problem. we like, we like facebook and we like google. we are less prone to the sor

businesses take decades to build in terms of connectivity to banks and other financial institutions, , this will bring us that connectivity. a critical to expand valuation in order to be appealing to public investors? >> it would be helpful to expand our earnings stream and vibration. opportunity to create shareholder value to, but it also connects with the partnerships and asia in india, thailand, also the philippines, indonesia, and korea, and to connecting those users with this network, we see huge growth opportunities across the world, and so that will indeed enhance revenues and valuation with it as well. you consider starting another funding round to support some of those international deals you have made? >> we are not a capital-intensive business. the financial group at goldman sachs, i know what a constraint capital can be. istunately, ant financial more of a technology company, so we are not constrained by capital in terms of our growth your this business will enhance our earnings stream and give us greater earnings capability, and we don't see an immediate need for capital

and move on to other development areas. that is the substantial turnaround of our financial strategy. of cash and liquidity in developing our strategy. yousef: in terms of buying land, that is on the table as well? how much land can you buy at this stage? yasser: it is slightly different. it is not buying land, it is participation and joining other c. andors through land, et leasing through the experience that we gained through the number of years, especially in mecca. yousef: a lot of institutional investors are watching the transformation stories. on thea bit of a u-turn restoration of the bonuses in the last two weeks. do you think this will breathe new life into your profits -- enter your projects in terms of domestic demand? yasser: absolutely. hospitality lives and breathes on retail consumption. this in a sense came at the right time. but that is the short-term. the long-term is where we really deliver the top -- deliver the proper service to various societies. this is where we are really focused on. saysudi arabia's leader money will be spent on domestic investment. the crown p

over 1%re jumping today heading for a march high with infrastructure and financials leading the gainsnt amount of money toward rebuilding roads. metals, copper and iron ore also joining the movers here. take a look at equity movers. utilities falling almost 1% today. , utility player is in china under pressure amid reports that the government is investments in urban areas. china resources gas falling as much as 13%. now i want to take a look at some other equity movers in asia. one stock continuing to slide in hong kong. that stuck has been caught to neutral. noble continuing to drop and sega sammy continuing to plunge in tokyo. guidancesay that the .irs on the conservative side this is the biggest tumbler for that stock since 2014. haidi: let's get the first world news here now. reporter: the un security council will discuss north korea's missile launch which is seen as a challenge to the south's new leader. the rocket landed in the ocean after reaching a high altitude. it is not thought to have been capable of hitting the united states. the south korean and united states presidents

last hour or so, we‘ve heard there could soon be more access to china‘s markets for us farmers and financialhing developments for us in our singapore bureau. rico, what‘s happening? ta nya! tanya! hi! he loves tojump in. what is happening? do you know what, this is happening? do you know what, this isa is happening? do you know what, this is a turnaround after all of the negative rhetoric from president trump on china before xijinping‘s visit. but from the looks of it, it is positive, with the us and china expanding trade and beef and chicken. and they are increasing access for firms. the chicken. and they are increasing access forfirms. the plan is to reduce the massive trade deficit with beijing. the secretary said the deals are the first tangible results of trade negotiation allowing us import of beef no later thanjuly 16th, and chinese cooked poultry will be allowed in the us markets. and other services will begin a licensing process in a sector where the union pay system in china has had a near monopoly. the secretary said these deals will bring down the trade deficit between the two ec

regulation should help ensure a safe and sound financial system in a tailored manner to help grow and maintain a healthy economy perks with an asian bank to be well capitalized and well regulated without being bound by unnecessary cost. and deregulation kills innovation to have significant and and significant cost on companies and institutions disproportionately on smaller ones community banks and credit unions lack of personnel and infrastructure to handle the overwhelming rated the tory burden of the last few years but in many ways they're treated the same as the world's biggest institutions are regulatory regime should be properly tailored to avoid the one-size-fits-all approach one area of by this committee to address is the threshold for regional banks and in prior hearings to discuss the $50 billion of that is the appropriate threshold of hope we can work together to craft a corporate standard. my goal is to work with you you, secretary mnuchin, senators and furniture regulators to look for ways to improve regulation to foster economic growth while maintaining resilienc

program is supposed to support women in the middle east with capital and access to networking and financial markets, but countries like saudi arabia impose severe restrictions on women and their ability to even participate in society there. and even though the fund would be run by the world bank, critics already drawing comparisons to the clinton foundation. >>> all right, an apology from the state department to the u.s. press corps after secretary of state rex tillerson held a media briefing in saudi arabia without members of the american media. only foreign reporters were in that room. that left american journalists scrambling to figure out what happened. a spokesman for tillerson claims there was not enough time to alert members of the u.s. media about the briefing. calls to the white house and the state department for a comment have not been returned. >>> all right, so much more on this trip ahead. two of the president's top aides not exactly quieting concerns that the president's conversations with the russians focused on james comey. >>> and we are finally hearing from billy bush. wha

and bonds, our financiers are financing these bonds but six months later there's a new technology and they are stranded so there's a lot of innovation on the financing side that needs to happen to help investors not to be scared about new technology developments that they are developing quickly. i heard this phrase from the head of the world bank saying that sustainability is, that's the biggest transition where going to experience is as strong as the industrial revolution but as fast as the digital one so we have to face those challenges. >>. >> fasten your seatbelts. >> let go here first. >>. >> i have to play for my and another one for jeremy. >> anyone can take up this one but it's absolute to budget for example, jeremy did this on budget in the future, or any project. the thing is the science that we can start budgeting for maintenance because that's the reason why we are so behind in infrastructure right now. and the question for jeremy is, congress in general that's trying to form the infrastructure bank and it has always been taken in many ways so we've got that right now with

and finally, back to the financial times, and a rather unusual artistic collaboration.ently former us president bill clinton is to team up with thriller writer james patterson on a novel called the president is missing. with us is cornelia meyer, ceo of mrl corporation, a business consultancy. good morning. good morning. cueto few people after your consultancy, looking at the papers today. —— quite a few. i don't know if you can help the trump administration. politico reporting on this latest cyber which refuses to leave the administration alone. -- latest saga. i watched the testimonial yesterday, live, with sally yates. did you find it gripping? i found it very gripping, because i thought she carried herself incredibly well and she basically said, look, i did my job the best way i knew how. i told then they had a problem. i also urged against the muslim immigration ban, iwent urged against the muslim immigration ban, i went against it because the higher good as the constitution, and the constitution says you cannot discriminate against religion or country of origin. s

disagreements among conservative activists, they shared a vital perspective by lending organelle and financial and influence to politics business groups helped secure important policy victories for conservatives. so that is a sort of sample of what i do in this book to connect broader currents in american history to the history of business. i would be pleased it hear what you think and talk more about it and at this point we would turn it open to questions. yes? please, thank you. >> when i was in washington a couple weeks back i was surprised to see it is a prominent position for the building of the chamber of commerce. it is actually seems to be across from the white house on the main street and i was surprised because i had thought it was just another lobbying organization. would you describe why it is so prominent? >> sure. you are talking about u.s. chamber of commerce which is far more than just another lobbying association. it is in fact the biggest business corporate lobbying organization in the country and in terms of the amount of money it puts into political activities it dwarfs any

would be complete without mentioning the government that gives terrorists all three, safe harbor and financial backing, and the social standing needed for recruitment. it is a regime that is responsible for so much instability in that region. i'm speaking, of course, of iran. yemen,banon to iraq to iran funds arms and trains terrorists, militias, and other extremist groups that spread destruction and chaos across the region. for decades, iran has fueled the fires of sectarian conflict and terror. it is a government that speaks openly of mass murder, vowing the destruction of israel, death to america, and ruin for many nations. -- for many leaders and nations in this room. among iran's most tragic and destabilizing interventions, you have seen it in syria. bolstered by iran, assad has committed unspeakable crimes. the united states has taken firm action in response to the use of byned chemical weapons used the assad regime launching 59 , missiles at the syrian airbase from where that murderous attack originated. responsible nations must work together to end the humanitarian crisis in syria, era

and financials and crude oil, the energy complex, scott. you get those back instead of on their backside. you get them back. but there's about a 90 some odd chance that the fed is going to move again in june. i think that helps the financials out. i think you're going to see some reform in the second half along with those other things. >> if she moves and the s&p is more than 10% off its record high, he is going to be on twitter calling for her head. mark my words, remember i said it. i'm not so sure we want to take that chance. >> i agree, but i think the macro narrative is starting to become more important right now. the vel ocity of money is pickig up. corporations are spending. it's no surprise. there is no surprise, yes, business confident, consumer confidence, small business optimism. there's a micro narrative that's very powerful and i will tell you, it's going to help velocity of money pick up and when velocity of money picks up, profits will pick up. we'll make that the last word. >> we'll be back after this. a lot more ahead on th

energy and financials are big laggards as we see rates fall today. let's start with energy -- crude oil prices have come act from their lows of the session. -- come back from their lows of the session. we still have weakness and energy that is persisting here. are the worst performing energy stocks in the s&p 500. telecoms are the best performing stocks today. rison and at&t are both higher, getting an upgrade from a telco analyst -- verizon and at&t are both higher. less bearish than he has been pa. he says his call is on a relatively short time horizon. he remains bearish about long-term trends. shares up today. julia: now, to washington. as investors await the latest political development, president donald trump is back in the u.s. after his nine-day foreign trip. he began his first week back with news's comedic haitians director is leaving the white house. news his communications director is leaving the white house. we begin with timothy o'brien. -- kevin cirilli. let's talk about the communications director. a whole host of familiar rumors over

sector, external demand, domestic demand , the shifts necessary in both the property market and the financialr, and some of the pressures that exists in an economy that has high levels of private debt. thosef those, all of issues are known to the chinese authorities, and they have plans, and we have seen moves in recent weeks consistent with , so that is one of the bigger risks. i won't presume to make any judgments about other people's monetary policies. i think the thing to watch, all context, andobal very difficult -- you could have a lot of false precision about this. if i were to finish with a , wheree global scenario you have broad-based growth, the levels of uncertainty coming pickupou start to see a in private investment relative to savings. there could be some upward pressure on global interest rates, which will give monetary onicy more traction unchanged policy, and that is something to watch for over the horizon that affects all of us. the one last thing i will say on that is that we should all remember, and colleagues at the bank have done a lot of work -- i recommend it, that dec

financial income to my family. i was able to use the funding. i've done several deals, and it's made a huge financial impact on my family. i really want to thank you. >> announcer: get ready, in your area, to learn how to make money in real estat yancey way. >> what you'll learn to do here today took me from being an errand runner to literally exceeding my wildest financial dreams. anyone can do it, and i'm gonna show you how to. so, are you ready? [ cheers and applause ] >> announcer: you don't need any previous real estate experience or your own money to invest to profit in real estate the yancey way. scott yancey's free lunch and dinner events bring you all the live local training you need to succeed in real estate. and his money partners will put up 100% of the money you need to do your deals. it's simple. you find the properties to flip, they put up the money, and you each get a piece of the profits. anyone, any age, from any walk of life can do this. >> this isn't a theory. this isn't something we're trying. this is something that works, and we're doing it right now a

responsibilities, their own lack of understanding and financial literacy, and the fact that many peoplethey are on the brink of being homeless in america because of mismanagement of their finances. >> well, yeah. i think if you look at the federal government, is on the brink of many problems. if we don't manage our finances better for the government, and we look at what is the biggest things that the government funds are, it is basically a giant insurance program with a giant army. we spend so much of our budget on these entitlement programs, social security and defense. and reforming those is never popular, but we know at some point these programs will run out of money and cause huge problems. and yet, we sit back and do nothing about it. >> how would you recommend reforming entitlement programs where it could really work for those who are geared towards the last year to it for the last several decades? >> well, we actually put out a budget plan called blueprint fora website@heritage.org. the basic principles are first, use secure benefits for families who need them the most. that star

protection bill requiring institutions to disclose information about things such as graduateation rates and financial aid and whether credit can be transfered to other schools. governor: many of these schools do great work and many take advantage of students and will have to disclose on exactly what they're offering and exactly how much it's going to cost and this is a effort for our students. >> the governor says many schools have slick marketing and find students to be easy targets and hopes the first of its kind legislation will go a long way towards preventing students from wasting time and money and ending up with nothing in return. in loudoun county, suzanne kennedy, abc 7 news. lindsey: another game 7 and another heartbreaking loss for washington sports fans and this time it's the wizards falling in the nba playoffs. last night in boston the wizards and celtics battled for the ticket to the eastern conference finals. bradley beal recording a playoff high 38 points but it wasn't enough. the celtics would pull away late to win 115-105, ending the wizards' season. the team had hoped to advance to