chuck robbins from cisco. always good to from hear them.eciate when the ceos want to come on, rain or shine. >> right. because the stock is down seven. he could have said, this is a tough day for me, i'm jammed. i'm jammed. a lot of guys say they're jammed. >> up next, we have jim's "mad dash." the trouble in brazil, well, we pointed this out, but you -- but take a look at the vespa down 10% right now. as for futures here, well, nothing on that -- nothing near that kind of loss, but we are going to be down. more "squawk on the street" straight ahead. we should do that meeting tomorrow. well wait. what did you think about her? it's definitely a new idea, but there's no business track record. well, have you seen her work? no. is it good? good? at cognizant, we're helping today's leading banks make better lending decisions with new sources of data- so, multiply that by her followers, speaking engagements, work experience... credit history. that more accurately assess a business' chances of success. this is a good investment. she's a good inves

cisco ceo chuck robbins from san jose. we fundamentally believe tax reform is needed.ssed in washington about how that should be structured and there are two key things. tax reform for overall lower corporate tax rates are needed to make u.s. corporations more competitive and repatriation is important for those of us who have cash overseas so we can bring it back and making investments in the united states. variousorking with groups in washington, congress, etc. to try and help move that forward. relative to the business impact, we are focused on a few things right now. number one, we are transitioning our business to a more software subscription business. secondly, we are leveraging our ability to innovate both through inorganic and organic capabilities and finally, working with our customers to help them prepare for billions of new connections that will come online in the next generation of capabilities and neck working -- networking. tax and perspective of repatriation, we don't run our business under the assumption it is going to happen. if it did happen, it would

[laughter] alix: thank you, chuck robbins, the cisco ceo. of washington. at the top of the hour, treasury secretary steve mnuchin testifying in a congressional hearing. up next, senator mark warner joins us. this is bloomberg. ♪ david: this is bloomberg. washington suddenly seems awash in investigations with the justice department appointing independent counsel to look into possible connections between russia and the trump campaign. one of the senators at the center of it is mark warner, vice chairman of the select committee on intelligence. good to have you here. we have asked others and i would love your opinion. hasn the fact that mueller been brought in, does that mean you and your intelligence committee should be pulling back a little bit on the investigation to let him have his opportunity to investigate? mark: first of all, i think he was a great choice. he brings the kind of bipartisan and prosecutorial expertise to the table and independence that i think the justice department investigation need. in a sense, that will not in any way

chuck robbins, the ceo, was asked about the transition so far. >> the subscription transition, we haveore than doubled the amount of dollars on our balance sheets from the last eight quarters, and it was up 57% last quarter and hit 4.4 billion am a so that transition is moving. emily: coming up, members of the u.k. government proposing is reaping new security lock while also taxing tech giants. the egg tech news out of europe, next. this is bloomberg. ♪ alisa parent u.k., primee minister theresa theresa may is proposing a new text beloved on tech khamenei's divide web related issues, like hate speech and cybersecurity. caroline hyde joins us from london. still with us is david kirkpatrick. caroline, what is the purpose of this new tax, and what companies will be mostly affected? caroline: fascinating. it is coming up in the so-called manifesto of the conservative party. we are running up to the general election, which the conservative party are due to win. they have come out today with part of this manifesto proposing a law to allow the government to on social media and communication s

ceo chuck robbins will be on at 9:00 to discuss that. >> and the international trade commission will boeing and bombardier customer delta. >> general motors will stop selling vehicles in india and is putting its operations in south africa for sale. gm wants to focus on fewer, more profitable markets. it will take $500 billion charge against earnings as a result of that. joe. >> this is complicated for me. linked in out, linkedin out, link linkedin out -- linkedin is out with it's list of top companies. you do something like linkedin and get all these people corresponding with employers and each other and big data comes out of it and you can really -- i mean, some of these conclusions you can draw are really valuable. >> for this, this is a list of the company where we know people want to work. >> it looks like a list of fang -- >> it's like facebook, amazon, alphabet -- >> tesla. >> tesla. and some media companies, comcast is on it for the first time. >> first time. thank god. >> nice part about the list is it looks at billions of actions of users, whereas other lists that might just