rishaad: art basel in basel, itself. how much cross-fertilization is there?> we like to think that every show is regional and different, unique to the context it inhabits, but i think generally speaking, there will always be a group of collectors who will do all three shows. for example in hong kong, the show -- the key focus is on asia. of my galleries are from the asia-pacific region. in miami, the focus is more on the americas. in basel, it's naturally europe. we like that each show has its own character, that at the same time, you have these galleries that will be present in all three shows. angie: name one thing that is going to excite audiences most. >> we've got a lot this year. we are excited about our expanded film program. we are featuring five feature-length films, which will be open to the prod -- the public. we also have the icc tower featuring international artists. rishaad: let's hope the weather will hold up so you can see it. [laughter] >> i'm hoping we will be able to have a great view of the tower. angie: regardless, it's going to be an exc

we are never going to be at our basel capacity. so, it makes a lot of sense and it is worth a lot of resources for us in the long term to build to capacity here in the short term. and you come to, one comes to very different answers depending on your views of what the cost is, and inside out and i would really encourage as part of your work, to think through those things. because you may and we may end up in a space where we are five years from now, and we are not in the kind of environment that we are in today in terms of the city's resources. and we need to begin to make choices about programs. and the idea of trying to look as far forward to get the programs so that the dollar is allocated to the program, serve the most clients, doing that early, i think super important. so i would encourage you to think about the physics of that just as much as the physics of how well are we providing the service. which you are spending a lot of time thinking about it and it is wonderful work. but if you and we do both, then we will be in a muc

we are never going to be at our basel capacity. so, it makes a lot of sense and it is worth a lot of resources for us in the long term to build to capacity here in the short term. and you come to, one comes to very different answers depending on your views of what the cost is, and inside out and i would really encourage as part of your work, to think through those things. because you may and we may end up in a space where we are five years from now, and we are not in the kind of environment that we are in today in terms of the city's resources. and we need to begin to make choices about programs. and the idea of trying to look as far forward to get the programs so that the dollar is allocated to the program, serve the most clients, doing that early, i think super important. so i would encourage you to think about the physics of that just as much as the physics of how well are we providing the service. which you are spending a lot of time thinking about it and it is wonderful work. but if you and we do both, then we will be in a muc

implementation and the sort of international regulations on thinking, what are called the rubric of basel threes could make the banking system a lot more stable. there still remains a symbol to the regulation of the international system and i would say one of the things is a fix problems and the fact there is where we stand the problems. it is likely that the next we see his places that we didn't expect or didn't apply regulations. 2008 wasn't the main line bags and 1830s. the response is probably the great depression. then we encountered a whole set of problems in the financial system because individuals and firms and banks and other institutions have worked their way or the term of financial innovation that have innovated away around the regulation that with a minimal a whole set of regulations now safer for a period of time. more robust, more stable. but people are always looking around for a way of evading the regulation so they can get a higher rate of return and at the same time impose risks upon the greater financial system. and that is the hazard. regulators keep on having to try

tim reeve is in town for art basel.rship here that you're doing with china. tim: we have a long relationship with china going back 150 years, but this particular partnership is for a new design museum created. the collaborator, partner, will be developing a new gallery of 20th and 21st century design. sending temporary exhibitions over, and there to advise our partners in setting up a new museum. angie: how do you expect that to influence the design in china? to find out asn much as possible as we develop this relationship and the gallery about what is a burgeoning design community in shenzhen. we have spent time getting to know those communities, people, listening to ideas and suggestions from the design community in shenzhen, so what we leave behind these a legacy. angie: and impression and influence, which is important for artists. we know that it is easy to get over to shenzhen and find copycat works at the moment. there is no doubt the talent is there, but the courage to be original. it is not. i think this is chan

ubs became the lead partner of art basel in switzerland, now supporting it in three major locations.miami, and hong kong. what does sponsoring an event like this give you? >> it is a huge passion for our clients. our clients into an asset class. best, it is the testimonial of our contribution to society. last point, we own one of the largest contemporary art collections from the corporate branches,layed in 850 so we are an actual participant in the art market. we are doing it for 20 years. we are proudo be here, and it is something that resonates well. rishaad: it is growing all the time. how is it this year? what is it looking like? like theually looks display less, but higher-quality, giving the art more room, which is what they aspire to do, but you're right. it is over 200 plus galleries, thousands of pieces, and it becomes more and more global. i remember my first visit, very domestic, so to speak. theit becomes global, leading platform that we are proud to be a part of. about whether you fall in love, and for me art is not an asset class. you shouldople say buy something you re

traci: one of the good things about this chart from matt basel or is that it stripped out some of the noise around the statistics. some things around demographics of people dropping out of the workforce. it's not average, it's median. on that basis, yeah, some signs of wage growth. fisher would be happy. scarlet: i'm going to jump in for a moment. breaking news from shake shack. earnings crossing the wire right now. cents per share, the consensus estimate -- actually, adjusted etf is eight cents. adjusted headline is slightly better than they anticipated. the metricsales, that everyone focuses on for these retail restaurants and stores, that was up 11%. better than what analysts were looking for. they had anticipated 7.3%. in addition they are reiterating their outlook for their fiscal year, 2016. revenue, $51.1 million in the quarter. all right, i would like to bring in our first guest, stifel money manager chad morgan lander. further to go? chad: it may well. it is all about what china's fiscal response will be, if there is a fiscal response. they have not actually committed to this

david ovel& go pack chairman and democratic strategist basel smi zel.bout embracing donald trump and his candidacy or keeping their distance? >> there is no question the presidential race will frame the discussion, jon, but more important is the candidates and the ideas they are running on and the campaigns they run. as senator mitch mcconnell reminded senate colleagues, he won in kentucky as president clinton got a commanding win. just as senator collins was able to be reelected in 2008 as president obama won in maine. so before democrats look for the majority have a election first. >> basil what do you think? >> i think they are nice offices. but david is right. they may split it. and think of their president and their vote differently from a member of congress or council member or state legislator. that is true. what the republicans need to be concerned about. being able to tie donald trump and his language to the comments related to women and related to communities of color. and while i think it may work in some areas, i don't think that that has wi

index products, leadership position in exchange derivatives, ftse, in china together with deutsche basels highly branded stock. >> oracle shares popping as much as 4% in after-hours trading. the company reporting $9 billion in revenue, down 3% year-over-year. wall street analysts had expected $9.3 billion. oracle is beginning to reap the benefits for an investment in cloud-based software. >> the good news is the fast past business which is their application in their platform and service in the cloud grew 15%. scorching growth. the margins did not disappoint people. emily: how does that compare to the big names? >> it is doing better, but a part of that trend moving away from legacy software. moving away from legacy hardware. the numbers oracle had to report have been bad for a long time. look at revenue growth, topline revenue growth, you can see a trend that you see with other companies. that is their legacy business of software that they sell by the pile, but the revenue growth over all is not growing anymore. i call it slowing revenue growth, maybe i was being too kind. when you look

. >> basel. >> let's take a look. snipped in the bud, sunday, june 5th at 9:00 p.m. >> detective. carson howell and i had a twisty history that stretched from law school into our professional lives. let me tell you, he's not a good man. not a good guy. a total womanizer. not me, my friends. yes, i lost an important case to him and, yes, i did bring all of that up when i saw him that day, to kill the man. look at me. happy scissor hands. i'm going to put that there. >> that's good stuff. >> that's comedy. >> fun. they're allowing us to be funny, which is slightly differentiating our hour of mystery wheel, what they call them, from others. there is a lot of humor. i get to play like that, which is my favorite thing to do. >> i would think there would be room for a couple of cameos for a couple of -- >> i think there is, actually. >> did you see our work in "kung fu panda 3." >> perhaps you've heard. we were cousins, i think. >> that's right. yeah, you get dim, i'm sorry. >> you'll see our work. >> you're doing an indie film? we shoot this summer. well, in may. it's about this really

. >> seth: y y 'cause you did -- i believyou did ititt t`e basell sdiumum >> at petctcpark. >> s sh: at peo. we did that a couple year-- >> sum -- explain nerd hq real quk. >>o nerdrdq ----o started a compmpy called t the nerd machine, which isasically a lifestyle brand for nerdrdulture. t-shshts, hats, beanies, tchotchkes things like that. have e onle communit incredible onlnle communitit they basically do all t e editorial stuff that's on the te. and d oer to kind of prprote, gugugu thehed d chine, w w started doing an event @ fsite event dungngan diego - comic con, and th's nerd hq. but ultimatete whahait turned inin was fr r ysnd three nights of just insane fun pas.s. we do pane with celebritie bubuthey're very sll and timate. theye all fan-drdren questions. i haveo idea wt thehhell anybody's going t# a at any point. >>eth: that's fantasti >> whicicis a lot of fun. and we hadncredible gueststs like, you know, william shner, and joss whedon, and thanillon the cast of peop. and d nsnot only dthey get to ask all the questns, but it's only 2020ucks a pop. it's all a la rte. and evere

not like these guys are the guye first having baseball.havi basel i disagree with bryce.th bryce i don'te is tired. it's a different generation. >> you're getting defensive. de. >> as long as bryce is willing a to take as baseball to the hip. >> that's the key. >> that's what he's saying, say though, city. that's what he's saying isaying that why do you have to take bean ball because you want to t have fun.un >> because not everybodyve agrees with him.ag >> you can change the culture c of the game forha yourself butrf you can't convince the other o 600 players in baseball to goebt along and agree with you. if you get a pitcher like sergio romero who said he who si should just shut up he's going i to try to shut him up with a fast ball if that's whatt's happens.happ >> that's fine i agree with agre bryce if you're having ayce little fun it doesn't mean you have to take bean ball to the te head.head >> it's ridiculous.t'ridi >> he has no control overr that. that. some pitchers will not like it l if he acts that way and as w long as he's willing to takeingo that ball, the in extime he h tak

the asia director of art basel with me to talk about the show's evolution and what businesses can lookddle of the asian trading day, and you are watching "asia edge." winning streak. chinese stocks hitting a two-month high as policymakers loosen controls on margin lending. this was fueled for last year's boom and bust. says it's aest man worthwhile deal. election footing. australia's prime minister clears the way for an early vote using a crackdown on trade unions as a trigger. angie: also coming up, hunted and hacked. a sophisticated gang behind a bangladesh bank heist. positive or negative. christine lagarde says rates below zero may be good for the global economy. premier artsia's show, bringing together more than 200 of the world's leading galleries. all that and more on this monday's edition of "asia edge." david: i am on market watch for you. i will be following the money and what is happening. 2.4% gains on the shanghai composite. it's a quiet, uneventful start to the trading week. you canrly mixed, as see. overall, the benchmark is lower. asian stocks

world.e here at basel hauer.tutddor, tag the black badger.ch that they came out with last year. this year they partnered with the artist and designer james thompson to come up with a super look that is .righter and powerful new loom there are three colors and only 18 of each color will be made. this is the regatta 02 usa watch. this comes down. this looks very nice. piece ofly will have a the top winning sailboat on top of this here. a little bit of the boat. only 235 will be made. this is a completely new watch. a combination role time and chronograph. it was inspired by a watch from the 1940's. also the smallest world time, graph on the market. a brand-new calendar watch this year. the first they have made. a big base indicator. you can see the rotor is integrated into the movement. all around the edges. every year they take a vintage watch from the museum and the contemporary watch inspired by it. this is named after the racetrack in italy. a looks like the watch he wore in 1975.on a little bigger than that watch was. it carries a lot of t

clearing swaps and other instruments that came into play, and that was a key driver, and along with baselnking their risk-weighted assets, and this is about capital efficiency, and, of course, the jewel in the crown here is the central clearinghouse, which was in the swaps business well before it was fashionable, and now it clears about $500 trillion in swaps and has effectively a very dominant share here. that is the jewel in the ground, -- crown. what does it therefore become a more attractive place? not only for frankfurt but for some countries, damaging of the attractiveness of singapore, hong kong question mark william: i think it would be easy to set yes, that this is add news for hong kong, it and you have a larger pool of capital to access, but there are issues, such as alibaba, where countries list where the main use is. it is probably overplayed. partnk the interesting will be around what happens in the trading side, and this will poolthe more interesting of trading new products for china potentially to look into. it is not a one size game. was going to say donald trump projecte

another stock trading even more sharply lower on the day is basel.y that the 10 he k reveals headwinds for the company including rising inventorys and accounts payable. he lowered his estimates and it's $34 adjusting that fossil may drop the lows. >> thanks, abigail. more "bloomberg markets" ahead. hey how's it going, hotcakes? hotcakes. this place has hotcakes. so why aren't they selling like hotcakes? with comcast business internet and wifi pro, they could be. just add a customized message to your wifi pro splash page and you'll reach your customers where their eyes are already - on their devices. order up. it's more than just wifi, it can help grow your business. you don't see that every day. introducing wifi pro, wifi that helps grow your business. comcast business. built for business. when it comes to the fithings you love,. you want more. love romance? get lost in every embrace. into sports? follow every pitch, every play and every win. change the way you experience tv with x1 from xfinity. >> it is noon in new york, 4:00 london. from bloomberg

. >> mark: the basel committee has the backlash from recent attacks.ened in california and abroad. this lady wants to make sure the people know that her religion does not spread this juror terrorism. the surge in fremont and for the cross the bay area. there already being to assure the committee stands together. >>: we need to stand together and unite together. we need to face the enemy. >> mark: people at the meeting this said that their fears were spelled. >> darya: we watch each cup on the weather and traffic. >> anny: things are warming up nicely. here's a quick check address the full camera. a partly to mostly cloudy conditions. they're no delays for the inbound flights. our full forecast for kids to devote forecast. it was chilly it was and temperatures in the '40's. and also in the upper thirties. jackets will be taken off by lunchtime. setting conditions expected at 3:00 p.m. and the timber shall be in the upper 60s. i will let you know how long this will last. >> robin: the space cumulates good. the right here is also good the hot spot is on t

how have you looked at future regulations such as basel 4.0 and the fundamental review of trading book, and how these fit in with our current structure? >> our view is that we always need to be looking at the risks of the future, not the past. we have to make sure our financial regulatory system doesn't come out of date and we do that domestically. we do that international as we participate in various multilateral bodies. >> i think i've run out of time. >> the time of the gentlady has expired. the chair recognizes the gentleman from kentucky. >> thank you, mr. chairman, and mr. secretary, thanks for your testimony today. i wanted to follow up to questions from a colleague as a member of the terrorism financing task force. as you know the work of the treasury is critically important particularly the office of technical assistance. we know from our hearings, our hearings have revealed significant gaps in the anti-money laundering and counterterrorist financing capacity in any developing countries. my question to you is, given the role of the office of technical assistance and the agency

report back to the committee within one year of enactment on the combined impact of the volcker rule, basel iii and other financial regulations, impact they've had on capital for consumers, investors, businesses and market liquidity. i continue to have concerns that the cumulative effect of these layers of regulations has adversely impacted overall market conditions and market liquidity. so i look forward to reading your report and discussing with you today what the s.e.c. is doing to address this issue. the 2016 omnibus also included a provision which prohibits the s.e.c. from finalizing, issuing or implementing any rule or order regarding the disclosure of political contributions in the s.e.c. filings. i believe congress has been very clear on this issue. however, i understand that there are some who believe the s.e.c. is still able to work on a potential rule without actually finalizing that rule. let me just caution you against this interpretation. i think the commission has a lot of work to do including con gregsly mandated work that is more important in advancing a policy that congres

how have you all looked at future regulations such as basel 4.0 and the fundamental review of the trading book and how these fit in with our current structure. >> our view is we always need to be looking at the risks of the future, not the past. we have to make sure that our financial regulatory system doesn't become out of date. and we do that domestically. we do that internationally as we participate in various multilateral bodies. >> i think i've run out of time. i yield back. >> the time of the gentle lady has expired. the chair now recognizes gentleman from kentucky. >> thank you, mr. chairman. and mr. secretary, thanks for your testimony today. i wanted to follow-up the questions from my colleague as a member of the terrorism financing task force, as you know the work of treasury is critically important particularly the office of technical assistance. we know from our hearings, our hearings have revealed significant gaps in the anti money laundering and counterterrorist financing capacity in many developing countries. and my question to you is given the role of the office of technic

maria: i want to bring new york state republican ed cox with us and executive director basel michael.about this pushback for trump's bid. >> well, look, you could expect it but we are out at nancy reagan's services. the '68 convention where you had three candidates, much the same things, structurally and here you have kasich coming and saying, i can win, i do best against mrs. clinton. you have a newly elected officials and now it's ted cruz coming from the right and in the center you have someone who is not a public official who is well known and whose personality fits the time. maria: i want to introduce jack otter. you're following this as closely as we are, you are seeing seeing the pushback, wait a second, he's in the league, 35-45% of republicans want him there. is this right? >> i think that the party still has to come to grips to where the voters are and where the people in charge of the party in washington are. i mean, there's clearly continues to be a huge gap between the voters and trump has gone right through that gap. i don't see at this point yet, but ed cox knows more t

basel same time, the three banking rules have almost been discouraging credit expansion.t that. this is happening around the world -- the central banks have all of a sudden been the goto player for economic policy. what we have to see is better economic policy from policymakers around the world. deregulation, lower taxes, that are labor market policies -- we need to take away the structural impediments to rove and focus on more supply-side solutions. you cannot just rely on monetary policy. i think japan and europe to some degree are guilty of that and even the united states. thank you for staying with us. we will count you to the market open. ♪ stephanie: you are watching "bloomberg and we are back with david herro. super tuesday. you have been a supporter of marco rubio and chris christie but by all measures, it seems like donald trump is leading. if he comes out ahead, what does it mean for the market? >> some of this has already been discounted. the market is a discounting machine and constantly takes information and reacts based on it as it happens. since this d