we'll talk with chuck stevens in a few minutes. gm, what have you done for me lately. they are posting strong numbers and delivering. yet generally speaking investors are shrugging. >> breaking news. battle between qualcomm and apple heating up over royalties and lie sensing agreements. jon fortt has the details. >> this is a big one. i might be going too far apple is exercising its nuclear option in this argument with qualcomm over payments on its technology but this is pretty close. apple basically informing qualcomm it will stop paying all together the payments that it's been paying since it started making phones that cover the technology that qualcomm has in iphones and ipad, think about the wireless connections right now, lpe, the way you get broadband data on your phone and on your ipad. qualcomm gets payments from people everybody in the industry for that. apple thinks it's unfair, unfair qualcomm charges a percentage of the selling price as the payment here and they are fighting back in court. but apple has decided to stop

chuck stevens joins us in the next hour.is bloomberg. ♪ ,onathan: from new york city for our viewers worldwide, you are watching "bloomberg daybreak." just off session highs. range.ies, remarkable , 2.30 on in the middle the 10 year. eurozone inflation, a big upside surprise from the previous month, marginal against the estimate. , 1.2% coreadline inflation the highest in four years. against the up dollar. stock specific, switch out the board. deliveringmanagement decent earnings, the stock goes nowhere. 55%, all about fixed-income trading revenue down when the big five on wall street delivered a 24% jump. the stock trading lower by 5%. it is time for today's trading diary. we get our first reading of first reading of first-quarter gdp at 8:00 p.m. eastern. great to have you with us. not a good number to be sure. there are two explanations. one is this recurring pattern of seasonality, complications we have seen since the great recession. economists call it residual seasonality, but q1 tends to come in weaker than performanc

that is from steven mnuchin in the financial times and on the issue of tax reform. democrats not giving in. the democratic leader in the senate, chuckchumer, saying in an interview that if president trump is serious about tax reform to help the middle class, his -- he should start by releasing his own tax returns to erase any doubt of where his priorities lie. linda is next. she is on the line for those under $50,000. linda, we'll get to you in a moment. linda, we will get to you in a .oment, we will go to linda . caller: we have to go to a flat tax, say 10%. it should be a sales tax on everything and everybody. you can take three cents out of every $.10 and give it to the state for their budget and let the federal government take the rest. that way people who have a lot more money are going to be spending a lot more so they are going to be paying a lot more. host: another view on the flat tax. next up is evelyn who is in the andx between $50,000 $100,000. caller: hello. my name is evelyn. there should be some consideration from the federal government for people who are sometimes supporting ill family members that are unable to work