and look at blackrock and our earnings.have raised assets over $1.5 trillion in the last 18 months and did not add a job. that is productivity. >> although, man, all those people who may not be working and maybe we have to -- i don't know what we do for them. and by the way, what about their retirement savings, which you spend a lot of time in your letter on recently, talking about, and being concerned about. again, to these transformational changes you're talking about. >> they're going to create new jobs. think about all the needs for building out datacenters and management. it's going to reshape our jobs. let's be clear. think about all the jobs that have been lost in society, whether telephone operators, even -- you know, there's so many jobs that have been eliminated, but we have 3.7% unemployment. over time, we create new jobs, and you know, unfortunately, there's a timing differential, and in many cases, a geographic differential. but look, between decarbonization, between what we're doing in our own country related

larry fink has been ceo and chairman since he founded blackrock in 1988. >>> u.s.gineers is looking to restore full access to the port by the end of may. the channel has been blocked by the cargo ship collapsing the francis scott key bridge. >>> and the gamestop coo exits the company. his position will be absorbed by other key positions. >>> the big event of the day is the jobs report out at 8:30 a.m. eastern time. it is another busy day of fed official speeches. we hear from susan collins and tom barkin and michelle bowman today. >>> we are checking our futures today with the dow implied higher by 63 points and s&p by 15. for more, let's bring in jason katz at ubs. jason, this is very much a day about the jobs number. do you feel the economic narrative in america can change significantly with what happens today at 8:30 a.m.? >> the porridge his to be just right, dom. if we have an extreme number on either ide, you will have a binary reaction. that is not our expectation whatsoever. i think good news will be construed as it should be as good news. >> if good news i

i think we got a do that we have a lot of tools in which to do that, the list on ms ci blackrock is justking about $6 billion when in fact we are funneling hundreds of billions of dollars every year into the people's republic of china if you look at the broader index the actual ms ci emerging markets, those sorts of things, most of which is aligned with the chinese state in a whole lot of which the corporation so you're talking 97 state owned enterprises that span every key strategic industry, $4 trillion in revenue and 30 trillion in assets there is a large cluster of targetable entities and then congress also just released an act called the no limits act which is about sanctioning chinese companies that are helping to rebuild russia's defense industrial base. i talked about on the decisive decade to help make the point of the target list that we could use. here you start to get more interesting companies because you're talking about china national offshore energy companies in the major petroleum companies, the real companies some of the big as always on the second list of the no limits

so what's different though about a blackrock's target fund?e of the buzz of late that this is getting more excitement. what's unique about this v. us the ones on the market? >> blackrock's an asset manager, we're not an insurance company. so we had to approach this differently. we had to think about insurance as an asset class, not as part of our business that we wanted to fund. so we had to go out and find different insurance providers that wanted to come along with a different product. the insurance is liquid up until the point that you choose to make it an illiquid guarantee for the rest of your life, and we provide a lot of choice around that. so you can are retire anytime between 5 and a half and the year in which you -- 59 inform and the year you turn 7 the or decide -- 72 or decide not to use it at all. kelly: what do you say to folks who they i can't even think about are retirement because i have to pay my grocery bill? inflation is a tax on the american people. >> it has been. retirement needs to be a long-term agreement with yourself

you said every big asset manager is looking to capitalize and blackrock -- and blackstone was a couple of days ago with earnings pitching their retail product. in private equity which has been a complicated space to handicap lately under a higher interest rate environment. how much demand should there be for retail? >> if week step back, the question i would ask his wife with the retail investor look radically different than the institutional investor? today, the institutional investor as a private market allocation anywhere between 10-20% on average. you see some exceptions on the endowment model north of 30 or 40% in the private markets. the retail investor right now is running allocation that is well below 5% and frankly, a lot of retail investors are sitting at exactly 0%. over the last five, 10, 15, 20 years, the outperformance of the private versus the public market has been significant. that simply has the retail investor asking why not me? why am i not experiencing the same benefit the institutional investors are experiencing? whether it's in private equity or private credit, i

blackrock's tokenized fun has brought in over $240 million since its debut.ll look at its significance with carlos domingo, securitized ceo next. this is bloomberg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. to me, harlem is home. but home is also your body. —last one everyone. i asked myself, why doesn't pilates exist in harlem? so i started my own studio. getting a brick—and—mortar in new york is not easy. chase ink has supported us from studio 1 to studio 3. when you start small you need some big help. and chase ink was that for me. earn up to 5% cash back on business essentials with the ch

of course, we saw a lot of action in bitcoin etf for blackrock as well.i: coming up, we will talk about the stalemate over steel. u.s. and nippon steel may push back at the time frame to close their contentious 14 billion dollar deal. and we will talk to the former world bank president about the politics of the potential partnership. this is bloomberg. ♪ so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. you know what's brilliant? boring. think about it. boring is the unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring

we will start with blackrock.gets goes from 1,000 from 1,013. >> i think this is a simple story. asset prices in financial markets are going higher, and they are higher by a meaningful amount than at the beginning of the year, and blackrock, their fees go up as the asesets go up. i think all the cylinders are firing here, and it's a large rise to get to 1,000, and i think they will do it. >> charles schwab, price target from 74 to 68, jenny, at barclays. >> if blackrock -- >> it's a slow day, jenny. >> yeah, we are talking about a 2% increase. the point of the upgrade is very important, which is schwab is doing an incredible job. they have seen assets grow 20% year over year, and they saw $31 billion coming in february, and schwab got slaughtered. why? because after people started to pay attention to the cash balances, there was cash sorting and everybody thought that was too expensive for schwab. this is a great company with serious earnings growth ahead and trading at about 14 times. i would take a look at it he

last week, blackrock's larry fink came on the show, he of course has a blackrock etf he said a possiblexpect from the sec which took forever, like pulling teeth to get approval of spot bitcoin etf. >> spot bitcoin took years. one of the things i look at the bitcoin futures etf which we launched a little over two years ago it took two years from that point in time to get bitcoin spot. ether futures was just approved in october. if the bitcoin is anything to show here, it could be another year-and-a-half before we see an ether spot product. we're not in a hurry to do anything. we're waiting to see what the sec does and whether they decide it is a security which is still in process with others in the sec so you're not rushing. steve mccluing, we'll see you soon, it is a hot story. bubbling story, energy sector, the select spdr etf fund hit $96.40 earlier today. that is the highest intraday price since july 30th of 2014 and our "countdown" closer is here. says the energy sector is prime for a runup. we're already there, quincy. quincy cross by is chief global strategist at lpl. the runup is

blackrock is higher by just about 0.5%.ment of $10.5 trillion. we're also tracking shares of chip stocks, namely intel and advanced micro devices. both lower, due in part to a report from the "wall street journal" saying that chinese companies are directing telecom companies to start phasing out the chips from their systems. that follows reports about the chinese government emphasizing domestically made chips over foreign-made ones over the last year or so. nonetheless, those shares down. and we'll end with an analyst call out this morning, moving shares of arista networks. that stock is down by over 4% right now. 50,000 shares of volume, due in part to a double downgrade at rosenblatt securities. they go to sell. the target price goes down to 210 bucks. it was $330. the computer networking, cloud computing company, they're citing things like maybe not being able to benefit as much from artificial intelligence applications as the current valuation might imply. now, for more on that and other top analyst calls of the day, he

i mean, even esg, you know, larry fink, who is the ceo of blackrock, the largest asset manager of the world, who has been a huge, quote unquote catalyst, which is a very kind word in terms of ensuring that companies comply because of his his ability to or not allocate cap at all and to vote for directors and the like. he's been very that we've all figured out what esg is and said add a recent retreat that okay well i'm going to use the esg anymore because it's been politicized now he didn't say he's going to stop doing the things that he was doing that that wasn't his problem, which is my problem. i don't care what you call it, but it was oh, i'm mad that you figured out this. and so we've already some changes to impact investing in sustainable development and you're just going to keep seeing this cycle and through with different words and phrases. so i think it's really important for people to understand the underlying concept because it's going to come with some lipstick and a new bow and it's going to be the same old tired. another thing that's been. since nine, 1071 is this concep

blackrock says bond investors are facing a painful run-up in yields and may soon find relief.ao of global fixed income season two rate cuts by the fed this year as inflation moderates in the months ahead. for now he says blackrock has cut its own interest rate exposure, weighting investments towards more shorter maturities. >> the beauty of this for an investor going into it is we are trying to manage our interest rate exposure and if we think, which i think will be the case this year, we will get to a place where we anticipate the data improving and taking in the next month or so he will get better inflation data. paul: meanwhile, jp morgan says that three week rapper in u.s. equities is not done yet. the chief market strategist says rising bond yields, elevated oil prices and higher stock market concentration are among a lengthy list of reasons. he adds that he is concerned about complacency in equity valuations and the further repricing of rate-cut expectations and over all rosy profit outlooks. and ahead of this week's earnings, ubs group is cutting their sector recommenda

blackrock, the second largest shareholder, reportedly planning to back the company ahead of the deadlineo vote. shares of disney are just slightly lower in the pre-market. >>> citigroup carrying out a fresh round of job cuts according to bloomberg. filings show they plan to cut 430 positions in the tech, media and telecommunication units. the cuts come in what citi is calling the major actions of the h massive reorganization plan. >>> shares of insurers are getting hit after the medicare finalizes the prescription drug coverage. this rate of 3.7% is unchanged from january's proposed rate. disappointing analysts which expected between 50 and 100 basis points of improvement. frank. >> humana shares down 9%. silvana, thank you. >>> we have more to come here on "worldwide exchange," including one financial adviser's best picks for the second quarter. >>> first, a trump slump. shares of the former president's media company are set to get hit again today after getting clob be bered in yesterday's session. >>> and at&t's breaching is an issue with the latest guest saying these hacks are falling

it helps companies build on top of avalanche and were talking and working with places like blackrock,s, even j.p. morgan, whatever jamie dimon says about the crypto asset, the usage of the block chain is actually happening. from that perspective i'm super bullish for the whole space. maria: the usage is coming and what industry predominately. is this financial services or all corporate america, where do you see the usage most? >> is going to various parts of traditional technology. but right now the number one lead is traditional finance, paypal using their own stable point, blackrock tokenized in assets like money market funds. it's tokenized in real-world assets because the cleaner easier form to hold the right of ownership basically. maria: that is great analysis. great to see you, thank you so much. john will joining us, the d.o.j. refusing to turn over robert hur's taped interview with president biden even with the contempt of congress threat on the table read the hot topic of the hour coming up next. the power panel is back in the 8:00 a.m. hour. join me for mike huckabee and ka

blackrock is the major supporter with more than half of shares voted. would come as welcome news as the ceo bob iger with trian gunning to take two seats on the board as he tries to turn disney's fortunes around. there is no guarantee that disney would win the vote since investors have until tomorrow's shareholder meeting to make the decision. this as people familiar with the process tell cnbc that iger is considering tapping dana walden the successor. that would be the first female ceo in the existence of the company. you can find more on the story with the twists and turns all on the cnbc web site for you to read. >>> coming up on the show, we will take a look back at the big first quarter for markets. big is an understatement. the s&p is posting the best first quarter in five years. hi. i'm wolfgang puck when i started my online store wolfgang puck home i knew there would be a lot of orders to fill and i wanted them to ship out fast that's why i chose shipstation shipstation helps manage orders reduce shipping costs and print out shipping labels it's

bob iger has the support of the big institutionals, lacqua rock -- blackrock, vanguard.he retail group. caroline: ultimately, retail investors tend to go with the board in place. if you have been a retail investor you have been bombarded with a number of ads asking you to do that. as we were discussing, maybe trian has kind of won here. ed: there is a webcast. i wonder if it is the most-watched of all time. caroline: oracle of omaha might have something to say about that. this is the latest edition of "bloomberg technology." ed: this is bloomberg technology. ♪ sonali: welcome to bloomberg markets. i'm sonali basak. traders are waiting for remarks from jerome powell. he is set to begin and a few minutes and we will bring you the comments live when they begin. the s&p 500's near session highs. it is past 5220 up about .3%. the nasdaq 100 up on the day about .4%. new york route at the highest levels since october last year up about .7% holding

blackrock saying in its proxy, quote, in his time as chairman and ceo blackrock has delivered end industryng-term financial returns for our shareholders including 9,000% total return since the ipo. the firm says fink as ceo and chairman is the, quote, most appropriate and effective leadership structure. this all comes as bank earnings season kicks off a week from today. blackrock as well the same warning with a slew of financial annual meetings shortly thereafter, guys. there's actually a bit of a tailwind from the higher interest rates that we've seen. >> oh, yeah. >> you know, especially as it pertains to what some see as more conservative q1 guidance. higher rates for longer could be a beneficial for net interest income, more so than a lot of people were expecting in q4. >> lot of people are breaking down which banks are going to update and which direction. there's different portfolios, yeah. >> earlier in the week, ubs cut bofa and called it a rate trap, meaning if the fed cuts earnings revisions go lower. if the fed stays higher for longer more concerns about the portfolio duration, r

deidre, blackrock interesting, biggest asset manager, it now manages just around $10.5 trillion., with a "t" in assets under management. >> we heard from the ceo today, so his comments all the more important because of how important that company is. dom, thank you. >>> my next guest manages a five-star fund. while he's extra bullish on some particular names, he sees a bumpy road ahead for the broader market, expecting zero on the s&p over the next ten years. joining me for now is president and ceo at sneed capital. cole, are we about to enter a lost decade for equities? >> yeah, the answer is yes, nominally. but the real danger whether it's institutional or retires, is that the real returns are going to be worse. just to give you an analogous period, in 2021 was like 1969. today looks a lot like 1972. regardless of whether those paradigms are perfectly identical, you went into a lost decade in that case where investors made almost 6% in the s&p 500 but lost 4% to 5 hernandez real. you look at the 2000s, they lost money nominally. they lost real money. so i just point out that, be

. >> over $2 billion of our tuition money goes to funding contracted weapons, like boeing, blackrock, lockheed martin, and many more. >> reporter: students say they were inspired by demonstrations at columbia university, where 100 protesters were arrested last week. similar protests have been taking place at other universities, including nyu and cal poly. things that gotten so volatile that they shut down campus. they fully expect cal to clear them out. >> when we refuse to lead, which we likely will, they will likely call you cpd and berkeley pd. >> our commitment to free speech is unwavering. >> reporter: he says it's also committed to making sure classes are not disrupted. he says divestment is not on the table. >> we've heard with their demands are and there are no plans to change our investment strategies, policies, or practices. >> reporter: >> it doesn't really matter in comparison to what people in gaza are going through. >> reporter: student protesters say they are willing to put everything on the line to help stop what they describe as the mass killing of innocent people in

group rallied at embarcadero plaza before the march that would take them by bank of new york and blackrockents. they are calling on those financial institutions to divest from investments that they say harm the futures of children in sudan, congo and the middle east. they say environmental justice and human rights are intertwined. >> i think young people have this kind of moral clarity that people definitely see. and when they see it, like these little kids in the streets and giving speeches and reciting poems, that's really powerful in a way that like just adults saying these things wouldn't be. >> the young organizers say they also want to show solidarity with children all around the world who face war and ecological destruction. again. earth day coming up on monday, we'll have much more coverage on all of our newscasts on monday. thanks so much for joining us, everybody. hope you have a great weekend, and i'll see you right back here for the news at 730 on monday. in the meantime, you can always download business. it's not a nine-to-five proposition. it's all day and into the night. it'

billion of our tuition money goes to funding contract weapons, arms manufacturers, like boeing, blackrock, lockheed martin, and many more. >> we've heard what their demands are, and there are no plans to change our investment strategies, policies, or practices. >> that spokesperson there for uc berkeley says that while the university is committed to free speech, is also committed to making sure classes are not disrupted. >> elected officials and community leaders continued to pay tribute to longtime civil rights and community activist reverend cecil williams. >>> he passed away yesterday. cisco icon and cofounder of bly memorial church, -- house speaker meredith, nancy pelosi called the reverend, quote, a voice for love and justice to help build a community of passion and inclusion in our city. vice president kamala harris -- it was my honor to called reverend williams a dear friend. i have many fond memories over the years of attending his morning sermons on -- enjoying the reverend downstairs to serve meals to members of the community. he offered every person who walk-throughs doors a w

increases the fees everywhere, the fees are finally finished off by the ukrainian business, then blackrockl buy for next to nothing what else is in ukraine, he is their partner in dirty business, you can’t do without him, gejman. publican and others hetmanites. dolls of the heir tutti, tomorrow on the first. with fabulous ease, the provincial resort turned into the capital of world cinema. mr. wenders, why are you repeating yourself? and i'm not repeating myself. my god, are there no doors? in this film i play a negative character. i'm an avenger. left my rights, jane's script is real literature, we can't leave it, in kan for the festival, thousands of journalists came, this is not a movie anymore, please be careful, jack, damn, it hurts, i have the impression that i'm made of single piece of cinema, from head to toe, thank you for being here, matodore. on saturday on the first, this is a festival where there are films for everyone, this is cannes, kom, vogel, wartet auf dich. beweg dich! the great german army brought the residents of the old city of rostov-on-don deliverance from communis

billion of our tuition money goes to funding contracts with weapons arms manufacturers, like boeing, blackrocky martin and many more. >> uc berkeley officials say they are committed to free speech, but with finals approaching, they are also making sure that classes were impacted by the meant, and demands for the university to divest are up for discussion. >> we have heard what their demands are, and there are no plans to change our investment strategies policies or practices. >> reporter: with protesters with plans not to move anytime soon, it could lead to changes on campus, after a peaceful start to this demonstration. >> when we refuse to leave, which they will, they will likely call you cpd and berkeley pd. >> reporter: pete suratos, nbc bay area news. >>> more google employees have been fired for protesting the company's defense contract with israel. the activist group, called no tech for apartheid say 20 more workers have lost their jobs. the group reports the total number terminated is now at 50 google employees. that is since that's it in. those demonstration that google offices in sun

blackrock unveils new incentive rewards as part of the succession planning. announcing the coo and global business heads received a .5% in performance-based stock options. it was approved for a select group of senior leaders who we believe will play critical roles in blackrock's future. in total, blackrock says that it handed out a total of 120 million dollars of the stock options. samsung sales missed forecasts in the first quarter but plymouth area operating rose sharply ending a string affordably declines. results underscore how demand is starting to rebound from memory chips that power electronics after a severe downturn in the industry. the wall street journal is reporting that samsung plans to raise chip investments in texas to about 44 billion dollars. that is your bloomberg brief. jonathan: next, argentina's inflation problem. >> today, wages are miserable. not through our own fault. that is due to 20 years of populism. jonathan: live from new york city, this is bloomberg. ♪ do you want to close out? should i? normally i'd hold. but... taking the gain

getting right to the floor show and great experts here and blackrock global and great hill capitol chair tom hayes. steve. looking at how the treasury markets reacted and we are s eeing such high yields, i mean, for the 2 year to punch through 5% level indicates at least the traders and markets feel that the fed is not going to cut r ates may, june, july. >> we went from -- if you r ecall, we went from the b eginning of the year where we were expecting something like 6-and pricing in a little over one. now that's even being talked about and path of innation is always going to be on even. i think it's now hit sort of a bumpy territory and diverging between goods and services and that's what's creating a lot of worlds and what do they get services inflation down because they were shohei ohtani somewhat success. and the battle is b eing fought right now. >> s&p futures and on the second hedge of semiconductors with 5% and going with geopolitical and we took off half of s&p hedge this morning and >> we were long 98% of portfolios and we have 1% with the hedge and lodge put spread of the s&p

wei li is global chief investment strategist at blackrock. welcome to the programme.any people often compare the us and the uk as well, what can we see from them today? well, what can we see from them toda ? ~ �* ., , . well, what can we see from them toda? ., ,. ., today? we're not expecting a cut today. — today? we're not expecting a cut today, neither _ today? we're not expecting a cut today, neither is - today? we're not expecting a cut today, neither is the - cut today, neither is the market but the themes that are looking for today is that we are expect being a potential reiteration, even a double down, on the fact of the concerns for a junior cut to start, which was the signal they sent recently. from there on, it will be very data dependent in terms of how deep the cuts will come, and our expectation is we are looking at a more shallow cut cycle in comparison with previous economic cycles because of more persistent inflationary pressure. comparing that with the us, we think it is possible that the ecb may well cut sooner than the fed because of betty behaving

then blackrock will take its place, financial structures, american european ones will buy for next to no way around it, the hetman, the publican and other hetmanites, dolls of the heir to tututi, are on the first day today. there's excitement and bustle there, i don't know why, i'm dreaming again, yes, i'm used to paying for, so used to paying alone, this finalists of the twelfth season of the voice among project. they, of course, have a winner, a vote, a final, a live broadcast on saturday on the first, my fight, burns a line, my fight, beloved, beloved, beloved, roads, roads, roads, we are running away on different roads, don’t guess. for love, if the eyes are happy, we know for sure, the ice will melt, the silence of midnight and howl will sing, a long day, this long, so short, the heat of dubai, whispers something, hugging, the ice melts and melts, you are a sailor, i am a sailor , you are a fisherman, i... eh, take a walk! april 30th on the first. we continue our fashion meeting. the heroine polina visited the stylists' room. while the final preparations are behind the scenes, i

disney is winning its proxy fight with tryon management, apple shareholders have voted including blackrock. rowe price. details site the coup as a victory for bob iger who stopped the attempt to get two border seats on disney. shares of disney in the free market down 3. 4%. there is new concerns about a deadly bacteria that is spreading quickly, the cdc issuing an alert to watch for serious bacterial meningococcal infections with unusual symptoms, refers to any sickness that can lead to sepsis. when one in 6 people with bacteria have died so far this year and striking middle-aged adults, usually these forms of meningitis -- cases right now, 80% higher versus where they were this time a year ago. to women's march madness. i westar player caitlin clark leading her team to victory over lsu. the hawkeyes sealed it. >> the ball is up another deep one. he scored. the hawkeyes are headed back to the final four. maria: taking iowa to next week's title 4. lsu head coach tim wilkie having to expend what her team was absent for the national anthem. watch. >> i don't even know when the anthem was play

where you're going to make your money but making it in the modernization of the infrastructure and blackrock spends $13 billion building with supply chains and economically independent and don't go with the school of what's worked and go with what hasn't worked and contingent and no recession for industrials and we're going higher. stuart: jason katz, you make a lot of sense. thank you very much indeed. what's going on with app and will just dropped below 170. lauren: apple's revenue and earnings both fall this calendar year for the first time since 2016 and that's from analyst channel checks and that's what he's seeing and stock's down 1.1%. stuart: show me united and boeing, please. lauren: the delivery delays because of all the issues with the jets will hurt their aircraft utilization this year and offering voluntary leave and unit's up 1.25% and offering pilots voluntary programs for the month of may to reduce excess staffing. stuart: other planes and the pilots don't fly them. unpaid time off. lauren: they did not say that and that's how it appears. lauren: down 46. reddit priced a week

our next guest, global fund manager at blackrock. you remain confident on where equities are headed. this rally might be getting a little tired? russ: good morning. we are constructed on japanese equities. it's worth reminding ourselves that this was a market before the recent high, tends to be under owned and we are seeing a renaissance in the japanese economy. stronger gdp, significant governance reform. companies are levered to long-term trends like ai. this is a market we like. the other thing is despite gains, companies in the stock market look cheap relative to the rest of the world. paul: you mentioned the nikkei is under owned, but we've seen it slip from march and i want to compare that to the csi 300 in china. last week, chinese stocks beat the nikkei. are you tempted to put it into another market considering great deals? russ: i think that is a fair point. china is cheap but there are a number of challenges, particularly growth, property sector. i'd knowledge japan has pulled back off the march high. if you look at 12 mont

a signs of expansion are everywhere from big names like blackrock, ubs, who left india in the 2010s,ing back to the country now and looking at expanding at a clip they have never expanded at before. even from market makers, they are expanding to india for the first time. some setting up offices here in mumbai. examples are everywhere and banking sector overall in india grew the headcount by the most in over a decade last year. this is accompanied with pay hikes. firms on strategies getting paid $1 million annually and $1 million goes a lot further in mumbai than in new york. then private bankers getting 50% pay hikes so there is a lot of exuberance right now in the market around expansion, hiring, and pay. annabelle: $1 million should go far wherever you are in the world. given the salaries coming through and the pay hikes, how sustainable is the trend? >> that is a good question. i think authorities are well aware that there are pockets of over exuberance in the market. in the ipo space, they have been clamping down on over financing. the reserve bank of india is coming up with meas

that support along with backing by disney's largest shareholder blackrock gives the company enough voteso defeat peltz's challenge. shares of disney are pretty flat ahead of that. >>> the cyber panel is placing the blame on microsoft. in a new report by the board it called a breach of officials at the state and commerce departments preventible, slamming the tech jiemgt for its cyber security lapses and a deliberate lack of transparency. the board is recommending microsoft voep and make security focus reforms across all its products. >>> and former president trump's media company is suing its co-founders. in the suit filed in a florida civil court it is seeking to ban wesley moss and androulla tin ski from appointing members to the company's board or from owning any of its shares. they claim a company they founded guarantees them an 8.6% share of trump's truth social.com. >>> we've got a lot to get to including the big word investors need to know. >>> plus a new round of potential shares higher. >>> a different story for intel getting hit at "opening bell" as the company faces a new hurdl

they want the school to divest from blackrock, air bnb, targeting caterpillar, they have sold bulldozersel and we know about the project nimbus at google, they want divest tour from google. that has happened before at columbia university, the university did divest from south africa during the years and that is one issue. is this way to do it? i don't think so. this is now becoming a very bad situation on campus. you mention what is happening in congress. this bill would crack down on antisemitism on college campuses, force department of education to use international holocaust remember rans event of antisemitism when they enforce rules and give government more power to defund university. it is split between democrats. jerry nadler, his district is upper west side in midtown manhattan, just below columbia university, his neighborhood. he is ush approximating back. listen to back and forth on how to handle the problem, they are split, watch. >> only will this bill not heal deep wounds, it does nothing to combat antisemitism on campus. >> right now is time to send a message congress stands

. >>> blackrock reports tomorrow and larry fink will visit tomorrow. don't miss that first on cnbc. it's always interesting to hear on the network after earnings are released about that. the headlines with dom chu. >>> a rule, a judge, a judge rule today. the new jersey senator bob menendez and wife nadine menendez, will stand trial separately for their bribery case. that judge mapd the ruling due in part to nadine menendez's health and she would need to find new lawyers within 30 days as her current team would have to step aside due to conflicts of interest. senator menendez is scheduled to stand trial may 8. >>> u.s. aid administrator said it was credible to assess famine already happening in gaza. she noted that prior to october 7th, the rate of malnutrition was nearly zero but now one in three children. power's response makes her the first to publicly agree famine is happening in the war torn region. >>> and crews are working quickly to patch a 60-foot crack in a utah dam that could endanger a town nearby. while state and local officials believe the dam is not in danger of break

biggest investors vanguard and blackrock will vote for nominees at a board meeting.ajor boost for bob iger looking to stave off trian. a worker committing to spending and job protection as a meaningless piece of paper. the japanese company was trying to bolster support for a planned takeover of u.s. steel. president biden said the company should stay american-owned. more to come on daybreak australia. this is bloomberg. ♪ not all caitlin clarks are the same. caitlin clark. city planner. just like not all internet providers are the same. don't settle. you want fast. get fast. you want reliable. get reliable. you want powerful. get powerful. get real deal speed, reliability and power with xfinity. she shoots from here? that's kinda my thing. >> the teams have been working a lot since november on fentanyl precursors, on climate change, uneconomic practices. on artificial intelligence. there's been a lot of staff level work and both presidents thought that a few months later, this was a good time to check in and see how that's going, discuss the future. >> that's nationa

we heard earlier from the blackrock vice chair, philip hildebrand, on his take of the chinese data. >> there's a lack of domestic demand that is going to be a challenge going forward. number came in roughly a little bit above expectations. you can see the global activity helps. the policy stance helps. but over time the challenge is going to be this domestic demand problem and of course the fact that china is really in de flation. >> let's get more analysis on china's economic data as well as today's swings with our chief asian economist and strategist stephen c. a strong beat on first quarter gdp but disappointment elsewhere. what are some of the key takeaways? what does it tell us? >> the that a today certainly -- >> the data today certainly contains some positives. but in the meantime it raises quite serious questions about recovery sustainability. if you look at the data in detail, the beat is entirely driven by government spending. it is positive in the sense the government has been more proactive compared to last year supporting growth so it can lift sentiment and drive initial

big banks like wells fargo and citi and blackrock are kicking off before the opening bell today. arabile gumede is joining me here in london with the key financials this season. arabile. >> a modest start is what you anticipate particularly for the remainder of the year. you look at the first quarter and 5% is what you get. we are gearing up for the first quarter earnings season. analysts are optimistic than they were heading into last year for the full-year earnings per share across the s&p 500. we are expecting that number to be 9.8%. that is double the 4.1% that we were seeing as we entered 2023 according to lseg data. earnings as well as revenue growth is expected to be positive in the first quarter as well. analysts think we will see the weakest quarter of 2024 progressively getting higher. it all kicks off with the biggest banking names on wall street. citi will release the numbers as well as wells fargo and jpmorgan chase before getting results from goldman sachs and morgan stanley with bank of america on tuesday. all three of the major banks reporting today are expected t

$40 million spinning off peltz securing the backing of the two largest shareholders, vanguard and blackrockiger said the firm is eager to focus on the priorities. iger has said he will step down from the top job at the end of 2026 leaving disney over two and a half years to find a successor. the firm has to deal with the movie division with the superhero titles with iger delaying the release of some titles through the next decade. video games are in focus after disney announced a $1.5 billion investment in epic games in february. investor attention is focused on disney plus which iger says should turn a profit for the first time this fiscal year after notching $11 billion in losses so far. we'll hear from the man himself in the exclusive interview coming up at 14:00 cet. don't miss the exclusive conversation on cnbc. >>> this other parts of the corporate world, l'oreal is looking at the stake of a perfume group amouage. there is no certainty that the discussions will lead to a deal. amouage is owned by sabc group should be valued at more than 3 billion euro. cnbc reached out to l'oreal and

the paper says blackrock and t. rowe price are among the major investors backing disney. says investors are casting votes and can change them through the annual meeting tomorrow. peltz is seeking a board seat for himself and former disney cfo. more job cuts at city. a fresh round of reductions at its investment bank for managing directors and the technology media and technology division plus those covering equity capital markets. the latest cuts says it's concluded the major actions around its reorganization plan which aims to streamline operations by eliminating 20,000 roles. mckenzie has made unique offer to some of its staff. taking nine months pay and go away. the confirm -- they are offering it to some u.k. staff who they would like to leave. the move is the latest personnel shakeup at the firm and, shortly afterward warned some u.s. consultants were running out of time to get a promotion. that's your bloomberg brief. it's not just nine months off and you can go back to the job. lisa: i like the way that they tried to shape this. really challenging themselves. they a

"wall street journal" reports blackrock also siding with bob iger and his board of directors as well.ld on mark parker. i thought that was interesting. i've been saying this for weeks, a lot of confidence in the disney camp. that continues. it still may be close. don't forget, shareholders can withdraw and resubmit until the deadline. that happens occasionally. so there is still lobbying to be done here. we still have yet to hear from state street, vanguard, the huge index and/or passive funds that have such an impact on votes like this one. retail also important. disney confident on the retail vote, some 40% or so of the shares outstanding considered retail investors. inside disney, they believe they can get as many as 75% of those. jim, you have to say right now iger is going to win this one, but we don't know yet. it's still too early. these reports about 50% in, again, you can pull and resubmit until the deadline. >> what are you hearing about the cost of this to disney shareholders? >> the costs are running high. >> the highest ever. >> on both sides. >> the tryian side, if we se

joining me is the blackrock cio, good to see you, welcome back, rick.>> thanks for having me on. >> i'd like to start by getting your view, with rates having backed up, and rate cut expectations have been pushed out.>> we came into this year, i think our markets were a little bit overzealous, i heard people say definitively they are going in march. have rate cuts priced in, now we are down to less than two cuts priced in. i think markets tends to overshoot, and i think you can still overshoot a bit, until you get inflation data where we see the core pce closer to a more stable 2 1/2% rate. you can still overshoot a bit, but i think you're getting close to the level pricing. i think the fed would like to get one or two cuts this year, and they would need the data to help. in the interim, you've got to let the market do what it's going to do. we can still backup a little bit more, you will ind levels in the front that are making some sense.>> do you think there is a real risk that they don't cut at all? fed speaker after fed speaker, it certainly sounds like patience is the word of the ga

moody's downgrading or reducing ratings when it comes to certain weaknesses tied to big names like blackrock you see that playing out, ultimately? why are those stresses coming into those structures? craig: they are performing extremely well. last year, this year. while those actions took place, the vast majority of the ratings have been solid and there have been just as many upgrades as the downgrades. the credit performance has been exceptional. i would like to think that ours is at the top of the list but the space over all is performing very well. equities performing well. there has been a reissuance of bdcs in the investment-grade bond market. naturally, ratings injured -- radio things agencies look at individual performance but if you study it, it has been quite strong. one year ago i was here and everyone was wondering how we would hold up publicly. sonali: how do you avoid those stresses, given the interest rate environment you are in? craig: this is what we do, we are selective -- sonali: but what are you avoiding in the market? craig: what we have been avoiding for eight years. we

vanguard and blackrock, disney's largest investors are siding with the board.hile the battle might be nearing to a close, this could have a major impact of markets. a proxy battle in the magic kingdom does not go unnoticed. disney's weight is over 2%. and nelson's proxy stock could move the dough. and joining us with the fallout is bloomberg's ed ludlow. is it in the bag right now for disney and what comes next? >> it's hard to say it's in the bag. good morning. wow, that's a new one. vanguard and blockbuster are in the bag. the institutionals has sided with bob iger but there is an unknown, a wild card which is the largest body or single entity is a group of frankly retail investors that make up 30% of the shareholder base and retail investors historically side with the activists that's bringing the proxy battle. at least 60% of the vote was counted and you factor in as well, the shareholder can change their vote at any time. as reported with george lucas backing iger, the force is strong with him right now. sonali: ha, ha. coming back at me with a george luca

blackrock tweeting earlier this was a setback, this was the word he used. is it change your view on the market does it change the game? >> i'm not one of these i told you so people, but i told you we were going to play this game . today's it is side of the cut off day. is exactly what you would expect to see if you think that we are set back from three down to two from june down july that is exactly what is playing there on your screen. this is what i would tell you. you have being hurt the worst. the iw them is down 3% and the s&p down one. value underperforming growth. nvidia not a value stock. using about why. it is very obvious we've had this huge rally in industrial companies, financials, that is what tends to dominate the value indices. on the small-cap side consider 40% of that held by russell companies is floating versus just 21% of the s&p. something is happening on your screen right now is exactly what you are predicting if i would've giving you this yesterday. why is that relevant to tomorrow? here's why. none of these have been a lasting hurtle

we have blackrock however saying that copper needs to rise to $12,000 to incentivize large-scale mineestments. the willingness to pay these eye watering prices seems to be absent. let's talk a little more about the commodity space. we are hearing from bhp, the world's biggest miner. it is said to have approached anglo american to buy the company. it could be the biggest shakeup in the industry in more than a decade. for more we are joined by martin ritchie. what more do we know about this? martin: so far we have had confirmation from anglo american, which is bhp's target. as you said, this would be a really big mining deal and perhaps the biggest m&a deals this year. bhp is the world's biggest miner. it produces everything from iron ore to copper and nickel. and anglo has a similar profile, a lot of different commodities. but what is the key here i think is copper. anglo has a substantial production in copper and as anyone who watches the commodity space knows, there is a lot of interest in buying copper around the world because people think there's going to be a decade- plus a very r

he's got institutional support, blackrock, what is that,s second biggest shareholder?ce. stuart: if bob iger wins and peltz loses, does walt disney's stock go up? >> no, absolutely not p. i've been watching nelson peltz since the '80s. don't bet against him. he may not win this vote tomorrow, but he's playing the long game. disney' stock has gotten crushed through a good market over the last two days. pellson pelts knows what he's doing -- nelson peltz knows what he's doing. stuart: trump's social media stock was down big with yesterday after they reported big losses. they were down early this morning, now they've rebounded to 50. lauren: can i call it a meme stock? if. stuart: oh, you should. lauren: it's been called the mother of all meme stocks. look, we've been saying, and i do agree, this is a vehicle for trump supporters to prop him up. but it's also a way for never trumpers to make a buck. they knew this company would go public, we all did, and they knew it would be popular, so they cashed out, sticking the little buy, if you -- little guy, if you will. but the