i'm interested in having an industry viewpoint that's in the commerce department they can act on. so the importance of groups like the satellite industry association, plug, and other groups to go into the department of agencies, that something gets into the interagency is when commerce comes and says we've got a a problem. defense says we got a problem. something that is easier for me to deal with. i can hear from industry and i want to hear from industry, but i'm in a position where you first need respond to what my boss wants and then what the departments and agencies are saying. but they become advocates, you know, for an approach that is broadly shared across the industry, then it's much, much easier for us to engage. >> well, thank you very much. [applause] >> want to thank scott pace for this characteristically deeply insightful remarks. we can see why the vice president has entrusted him with being executive secretary of the space council, which is a signature initiative of this administration, won the president himself has entrusted our old friend vice president mike pence

got in trouble ever since 2016, acia has only been able to sell to zte, temp license from the commerce department can be no guarantee that be the u.s. department of commerce can take further regulatory action. and that's exactly what happened monday look, aasia told you about this. people act surprise but if investors did their homework, this news would not have come as a shock. at the time i thought the story had been attractive. and attractive enough, i recommended it initially anyway. that was a good call stock surged from $60 to $130. and then i told you to ring the register the point is, the primary risk is something we have known about from the jump. so how do you deal with a company that has a ridiculous amount of customer concentration. when looking at a company like acasia you need to ask yourself questions. how much -- with one client, you are hostage to that client's fortunes you don't typically get banned from doing business with them. second question, where is the economy based and what is the relationship like? getting 30% of the sales from one chinese company. you need to consider

time we will be hearing from a former sec commissioner and from officials with the faa and the commerce department. while there industry will take a look at a hearing from last week, the senate rules and administration committee took of a measure from oklahoma senator james lankford to limit debate time in the senate for presidential nominees to speed up the confirmation process. >> ready? the quorum being present, the committee on rules and administration will come to order. please to see my culture and our visitors here. this is the second time i've had a chance to share this committee and glad return to the chairmanship of the committee. i'm particularly fortunate that senator klobuchar is my ranking member casey and i have worked on a lot of things together and look forward to continuing to do that and some of those things will be right before this committee that we are able to be the chair and ranking member of. i'm pleased to welcome center height smith to the committee. senator you follow the footsteps of lots of mississippians have been on this committee. senator stennis, senator lott, sen

from kevin kelly of the commerce department. even if there's impact on responses, the value of more complete and accurate data derived from surveying the entire population outweighs such concerns. because remember, acs only goes to one out of 38 households. diay a ta is used for everythin from enforcing the voting rights where census data is available for federal fund uing. we've been in a debate over immigration policy now for ten years. does anyone doubt that we should have accurate data? on is sip senne ship op patience if we want to have an informed debate about i and come up with a remedy? finally, what i know will surely make the opponents of the administration and adding this question, grind their teeth. is that the trump administration is actually following recommend da made by the united statesed nations f. you look at their recommendations for housing in 2017, you'll find they recommend a citizenship question on their census surveys and in countries ranging from australia to germany to indonesia all ask this question o

we will partner with the commerce department but it's an area the commerce department will more appropriately take the lead. >> fantastic. that's great to hear. back to missile defense, general grieves, i'd like to ask you a question. you'verd touched on some very important cutting edge technologies, developing multiple object kill vehicle, directed energy, tracking, hypersonics. are we devoting enough resources in this budget that we're discussing to advance those technologies or should we be doing more r&d in any of those areas? >> congressman, we are beginning the work on hypersonics, beginning the work on directed energy and the lower level object kill vehicle. i have significant hope from what i've seen already within the department that with dr. gervin's focus on the priorities he's laid out for the department that the discussion will become a lot more robust and my hope is we will see increased resources dedicated to those areas in the next budget. >> this is a really important issue, and i think as we discuss the ndaa we're going to want to make sure that the r&d resources are really

commerce department. and as we report zte is making its opposition known. >> zte's chairman called a press conference today to protest a seven-year ban imposed by the u.s. commerce department. the ban blocks american companies from selling components to the chinese smart phonemaker. zte pled guilty last year for violating u.s. sctions by supplying to iran. the company agreed to pay a hefty fine of $900 million and could take steps againsthe employees involved. at the press conference, the chairman admittewto being s to fulfilling the settlement but said the punishment didn't match the crime. such sanctions could putin the compan a com coma, he said. we oppose such an unfair punishment and the act of politicizingtrade. the smart phonemaker said it would use all legal means necessary to safeguard its rights. there are two competing reactions in china to zte's case. one is thept att to whip up national sentiment to suppony the com and china's high-tech industry. in the state media, the canna daily headline t

commerce department went after particularly bad actors and the chinese smartphone maker hot water for years because it was illegally selling american technology to iran and then lying about it to the regulators the executives who lied were then rewarded so the commerce secretary wilbur ross decided to ban american companies from selling zte components or software for the next seven years. on the one hand zte definitely deserves some kind of punishment but given the timing this seems to about denying them our technology they raised billions, billions to build a ag wireless network in china and now it's going to be difficult for them to do it because they won't have our stuffer. the thing is we had pretty good pretext for going after them then the fcc decided to prevent telco company from purchasing companies that pose a national security threat to the integrity of our communications networks you really need to read between the lines. it's a shot at huawei in case you haven't heard it huawei makes smartphones and telco equipment. other companies looking to expand in america. they have b

is actually a big increase over twenty sixteen of one point five percent and related to the commerce department we always report on and discuss those u.s. monthly employment numbers the unemployment numbers which are released by the department's bureau of labor statistics the b.l.s. on the first friday of the month so we'll get to those april numbers next week but something occurred to us which we thought merited more of an in-depth look at unemployment i like to say the numbers matter and they mean something and that's particularly the case in fourteen states which all have established new record low unemployment rates in the last year almost a decade after we saw those high unemployment rates topping ten percent in the wake of the great recession where it put millions of people out of work and here to help us through some of these important numbers and the substance behind them is conservative t.v. and radio host steve malzberg thank you for joining us steve we appreciate it let's take a look at these fourteen states where are they around the country and one thing that we see is that the econ

commerce department reported that the first quarter growth the g.d.p. came in at two point three percent beating some economists expectations of one point eight percent although it is down from the q four g.d.p. of two point nine percent for a recollection of what happened last year the economy grew two point three percent for all of last year twenty seventeen which is actually a big increase over twenty sixteen of one point five percent and related to the commerce department we always report on and discuss those u.s. monthly employment numbers the unemployment numbers which are released by the department's bureau of labor statistics the b.l.s. on the first friday of the month so we'll get to those april numbers next week but something occurred to us which we thought merited more of an in-depth look at unemployment i like to say the numbers matter and they mean something and that's particularly the case in fourteen states which all have established new record low unemployment rates in the last year almost a decade after we saw those high unemployment ra

if you look at the memo that was put out by the commerce department, and dan from the deputy there now with the nielsen polling firm hurtled commerce that when they add to their surveys, and they have no appreciable decrease in response rates. another quote from there that i think is correct is this from kevin dan kelly of the commerce department. even if there's impact on responses, the value of more complete data from surveying the entire population outweigh such concerns. acs only goes to 138 households. since this data is used for everything from enforcing the voting rights act for citizenship data is essential to the distribution of federal funding. we've been in a debate now for 10 years. does anyone doubt that we should have accurate data on a citizenship population if we want to we want a house in informed debate and come up with a remedy? finally, what i know will surely make the opponents of the ration and adding this question is that the trump administration is following recommendations by the united nations. the recommendations for population and housing census 2017 coming

intelligence committee meeting his conversations to the washington post but at the epa the commerce department the department of defense it is that permanent class that is here to stay. this president needs to say at the current pace and that has already nominated. and nine years. and it's just a broken system and i respect mitch mcconnell but but the leader to change the rules. i don't know if anybody disagrees that some point in the future it is inevitable. but the rules will be no have to change the filibuster rule permanently but that we can do that for other things but i was okay with that. with the confirmation we have to do it but also they have to work seven days a week. and then you will be here seven days a week piling through this three or four weeks in a row you will miss your fundraisers. [applause] next we have to vacate. i appreciate it. [applause] >> please meet us in the hallway. please meet us in the hallway. [inaudible conversations] >> and now i cannot think of any higher honor a lawyer could have

us trade deficit increased to a record high in february according to figures from the us commerce department the largest monthly gap between exports and imports of goods and services since 2008. all of this despite a record volume of american export. the gap was larger than analysts predicted as services rose. let's ta ke predicted as services rose. let's take a look at the asian markets because we are seeing them fairly flat at the moment, taking a lead from the us, we saw walls treat rebound from the steep losses we saw earlier this week but we have got a slightly stronger yen and that is taking a toll on the japanese exporter ‘s. and that is it for this edition of asia business report. thanks for watching. the top stories this hour: at a meeting of the security council, russia dismisses the allegation that it poisoned a former double agent living in england. a court in south korea is expected to deliver a heavy punishment to former president park geun—hye, in one of the nation's biggest corruption scandals. the government's tax on sugary drinks comes into force on friday. the cost of some

that's according to figures from the us commerce department.as $57.6 billion — the largest monthly gap between exports and imports of goods and services since 2008. the gap was larger than analysts predicted, as imports of services rose. india's central bank is banning financial firms from dealing in cryptocurrencies, like bitcoin and etherium. the move comes as many governments around the world crack down on the digital currencies because they are unregulated. the aerospace giant airbus has factories all across europe. so how does it get huge parts, like wings and sections of fuselage, to where they need to be? 0ur reporter theo leggett has been to the south of france, to find out where the company is building a new beluga super transporter. this is the airbus beluga, as the name suggests it looks a bit like a whale, but it has an importantjob. it carries other airline parts to assembly lines in europe. but there isa assembly lines in europe. but there is a problem, it isjust assembly lines in europe. but there is a problem, it is just not ass

ustr declined to comment, neither did the commerce department back to you. >> kayla, thank you.ot of companies will be hanging on every single move that comes out we saw the impact of tariffs on u.s. steel yesterday the stock got smacked. >> if you were asleep at the switch and you woke up and saw that news about the steel tariffs coming on you're like oh, wow, let me buy it today you're down 35% from this great news point for u.s. steel. why? because they like other folks throughout the industry and even people buying steel products have said we are concerned on the impact on demand so if you look at what happened with steel tariffs under the bush regime, this is what happened. it's happening faster here having said that, i think this was overdone, their die dance was week but steel prices will hold. >> shifting gears it's shaping up to be another blockbuster weekend for disney invading the box office let's go to julia in los angeles for the details. hi, julia. >> melissa, disney says that avengers "infinity war" is on track to bring in $225 million in ticket sales in the u.s.

by the way, if you look at the memo that was put out by the commerce department you will see that they talk with former deputy director at the nielsen polling firm who told commerce that when they add a citizenship question they have seen quote, no decrease in response rate. another quote from there that i think is correct and this is from kevin -- even if there is impact on responses the value of more complete and accurate data derived from surveying the entire population outweighs such concern. it only goes to one out of 38000. census data as you heard was used for everything from enforcing the voting rights act were citizenship data is essential to the distribution of federal funding. look, we've been in a contentious debate over immigration policy for ten years. does anyone doubt that we should have accurate data on the citizenship population if we want to have an informed debate about it and come up with a remedy? finally, what i know will surely make the opponents of the administration in adding this question grind their teeth is that the trump administration is following recomme

then, the commerce department announces the 2020 sense census will include question on citizenship, aecision that will directly affect states with large numbers of illegal immigrants. we will talk with two top officials from california which has sued the trump administration over the policy. democratic congressman brad sherman and republican shawn nelson of the orange county board of supervisors. plus, north korea's leader takes a surprise trip to china as the world looks toward the summit between kim jong un and president trump. >> if it's no good we are walking out. if it's good, we will embrace it. >> chris: we will ask our sunday panel what are the chances kim will give up his nuclear weapons? all right now now on "fox news sunday" ." hello again, happy easter and happy passover from fox news in washington. it's been a turbulent week for president trump's foreign policy. russia tested a powerful new missile and responded to the u.s. expelling 60 of their diplomats by kicking out 60 of hours. kim jong un made a surprise trip to china while appearing to set new conditions for talks

the reality is the department of commerce or any other department we might pick doesn't have the resources to do that space situational awareness and that will be dod. thankfully, they have a great interest in doing that for their own reasons. one of the goals we have is to continue to provide the public service to the globe again as a means of attracting people to the united states and saying this is where you want to come and do business and the place to launch your space activities. i think we can do that it will make it very appealing for folks in other countries do not only come here but set a standard for the rest of the world. hopefully we can unite the responsible actors which every governments those may be in say it's in our larger interest to have these global things. so that it doesn't take 30 years or of international organization to put that into place. >> sir, i appreciate your question but i want to address a common misperception that you articulate it. alluded to this earlier but i will reiterate it. having data about what is up in space is distinct from being able to use t

trade deficit increased to a record high in february — that's according to figures from the us commerce departmentwas $57.6 billion — the largest monthly gap between exports and imports of goods and services since 2008. the gap was larger than analysts predicted, as imports of services rose. india's central bank is banning financial firms from dealing in cryptocurrencies like bitcoin and etherium. the move comes as many governments around the world crack down on the digital currencies because they are unregulated. from today, shoppers buying sugary drinks here in the uk face a hefty new tax. it's all in a bid to cut obesity rates and encourage healthier choices. the higher the sugar content the greater the tax, with consumers paying up to 33 cents per litre to satisfy their sweet tooth. many countries have either brought in a sugar tax, or are thinking about it. but does it actually change consumer's habits? with me is peter harding, head of lucozade ribena. good to talk to you. i believe you have already been cutting sugar from products? over the last five years we have taken 20% of the sugar out

the commerce department reported that the trade g rose by more than 1.5% to just under $58 billion. the trade deficit with chi actually fell, but it is still up about 20% this year so far. >>> elsewhere on the trade front, the u.s., canada, andxi are apparently moving closer to a deal on a new nafta agement. ayla tausche tells us about that tonight. >> reporter: speaking in west virginia, presidentrump expressed some optimism that a nafta deal could get done. >> we are working very hard on nafta with mexico and annada. you know we will have something, i think, fairly soon. >> reporter: but you downplayed reports that there deal reached by next week's ricas meeting a in lima, peru. >> they said let's have nta for it. i said don't rush it take easy. there is no rush. we will get it done right or we will terminate. >> reporter: time is running out for a deal to at the time done any agreement face as lengthy approval process in the u congress. elections are coming in mexico and popularity there is growing forhe anti-american candidate. and u.s. midterm elections could also createun rtai

of the real wealth network kathy thanks for joining us again according to the commerce department housing starts rose one point nine percent what do you make of the numbers. well when we look closely it really shows that multi family had an increase but we had a decrease in starts for single family however i was the family tends to be volatile so if we really the euro in on single family what happened there why did we not see more starts and that has a lot to do with whether we had a cold a cold march a cold february and i can slow things down lost the snow but also more regulations and that is slowing down the construction of homes and kathy what about what about the cost in general you know there's been all this trade tariff talk lately not just with china but we have a continuing dialogue over nafta and when we talk about canada we always talk about lumber canadian lumber prices have input costs for construction of homes in multi family home has that those costs gone up kathy they absolutely have and across the board of the biggest problem really today is a lack of construction workers

commerce department for american companies to do business with this telecoms partner in china.severely jeopardize the company, her team partners, include those u.s. companies, and also saying the u.s. bureau of industry and security, which is part of the commerce department ruling, is very unfair and is determined to protect its own interests. just getting that through. we got the official chinese reaction as well, which has been negative. we will be watching to see if anything more comes of that story. for a way tog resolve this dispute and undo this ban through legal channels. plenty more ahead. this is bloomberg. ♪ rishaad: we are back. this is "bloomberg markets: asia." i am rishaad salamat in hong kong. haidi: i am haidi lun in sydney. one of the biggest movers, taiwan semiconductors. course for its biggest intraday decline since the middle of 2013, off by 6%. the plunge coming after the chipmaker forecast sales for the current quarter at $1 billion less than what analysts were expecting. we have the story in taipei. what has been responsible for this down cast forecast we

for their own short term increases in incomes and there is more housing data out from the can commerce departmentwhich shows that march home sales increased by four percent over february that's a greater than expected rate increase in a ten point three percent higher than a year ago and among the latest earnings reports coca-cola has beaten expectations to deliver three percent sales growth in the first quarter of twenty eight team however revenue declined sixteen percent from a year ago to seven point six billion dollars as a company restructures to shift away from bottling and distribution the growth of four percent in soda sales while water and so-called sports drinks only grew by one percent was especially surprising in the midst of the historic low in consumption of sugary drinks coke credited the resilience and soda sales to the introduction of four new flavors of diet coke packaged in slim colorful and coke is. also hedged against the turn against soda by acquiring steaks and brands of teenage you sent other beverages to. apple has reached an agreement with the republic of ireland to pay a

have worked out ok, but many of us would prefer the state to be under the jurisdiction of the commerce department. interviewer: are more borders needed? mr. strayer: the question is, do borders erecting because of different regulatory policies in different, nation-states? assets, asated theresa may mentioned in her speech, with at least two point $2 trillion to the developing world in going forward. we don't want to adopt any policy changes that are going to cause more friction in that system, and make it more difficult for systems around the world to avail themselves of the internet. the administration has called for changes to trade agreements. mr. strayer: correct. we are unabashedly in our pursuit of what is in the national interest, including in recent national security strategy. we mention things like ican, the thernet government forum, international telecommunications union, as playing an active role going forward. we will advance interest in those forums that we don't think is aligned with what we are tradeon the part-goods environment. we can also pursue interests in the digital world in

housing starts exceeded expectations while there was a fall in the keys single family sector the commerce department says that single family income single family home starts were down three point seven percent to eight hundred sixty seven thousand units single family is the largest category within the housing market and overall new construction starts with a seasonally adjusted annual rate of one point three million units an increase of one point nine percent multifamily units meanwhile made a big gain of fourteen point four percent said an annual rate of four hundred fifty two thousand units. to. the international monetary fund which is holding a meeting here in washington at the end of this week has released a troublesome report which highlights the dramatic debt load of the world of one hundred sixty four trillion dollars and continually a trend that might make it more cumbersome for country countries to react to the next recession and pay off debts if face financing conditions tighten here discuss the i.m.f. report and other economic news is our friend danielle de martino both c.e.o. of money st

for their own short term increases in incomes and there is more housing data out from the can commerce department which shows that march home sales increase by four percent over february that's a greater than expected rate increase in a ten point three percent higher than a year ago and among the latest earnings reports coca-cola has beaten expert. patients deliver three percent sales growth in the first quarter of twenty eighteen however revenue declines sixteen percent from a year ago to seven point six billion dollars as a company restructures to shift away from bottling and distribution the growth of four percent in soda sales while water and so-called sports drinks only grew by one percent was especially surprising in the midst of the historic low in consumption of sugary drinks coke credited the resilience and soda sales to the introduction of four new flavors of diet coke packaged in slim colorful and coke is also hedged against the turn against soda by acquiring steaks and brands of tea juice and other beverages. apple has reached an agreement with the republic of ireland to pay an estima

department of commerce decided to ban the u.s. companies from selling to chinese telecom maker.ses bloomberg stocks editor and columnist, dave will center great to see you. talk us through what happened then what is the reaction been? dave: the commerce department basically was unhappy that they told them one thing when it came to disciplining some of their employees, and did another. like paying bonuses. banddecided to impose this u.s.e of importing components. that is a big deal for a whole lot of companies. obvious example. 39% of their revenue came from china. a lot of that is the te. of aake a big chunk business like that and you can understand why the stock is taking a beating. julia: we were talking about this off -- off their what extent can we mirror our map what has been done here as far as effective intellectual property throw it -- flowing up to china in terms of what could be coming as far as intellectual property? the concern is clearly there with technology. you saw that when it came to broadcom trying to by qualcomm. that deal not happening. giving that you have

the corner from the white house like it was literally near the white house the print court commerce departmentthe pentagon. so there was a twenty fourteen if you remember the federal communications commission started the task force into the illicit use of sting rays nothing has come from that they're a fan no reports there's no memos there's nothing maybe someday it'll go to what the task force. boy that is some does taskmaster good work guys four years later well we got nothing but anyway you know who he didn't know but with with a. great job sixty create jobs. there's no guarantee of a successful prosperous career quite like a four year or better yet graduate college education that was the an arguable premise of college boosting programs like the g.i. bill and is the foundation of both modern college prep school curriculums and the stunningly profitable college test prep industry and now not only has college enrollment ballooned to historic levels and the most basic office assistant positions on linked in requiring a bachelor's degree at minimum we have allowed an entire generation of americ

the us commerce department is set to release after the month of february, most analysts are expectingficit which already hit a record high in january. part deficit which already hit a record high injanuary. part of the reasoning is the fact that americans simply have more money to spend. us wages have increased slowly over the last few months, pumped along by a growing us economy, meaning many people in the us are now able to purchase more expensive international goods. but that might be cold comfort for the white house thatis be cold comfort for the white house that is determined to put america first. joining us is jeremy cook, chief economist at world first. not a lot of belief on the markets that this will turn into a full—blown trade war. for now, it looks like a lot of rhetoric and proposals and that is having an impact on how investors are seeing it. absolutely. the big swings we saw yesterday, the main companies hit, people like boeing who depend on huge contracts out to countries like china, the fact that both the white house and the chinese late last night started to talk abo

around the corner from the white house like it was literally near the white house's pre-court commerce department the pentagon. so there was a twenty fourteen if you remember the federal communications commission started the task force into the illicit use of sting rays nothing has come from that there offend no reports there's no memos there's nothing maybe someday it'll go to what the task force. boy that if that's taskmaster. good work later well we've got nothing but. another. great job. there's no guarantee of a successful prosperous career quite like a four year or better yet graduate college education that was the an arguable promise of college boosting programs like the g.i. bill and is the foundation of both modern college prep school curriculums and the stunningly profitable college test prep industry and now not only has college enrollment ballooned to historic levels and the most basic office assistant positions on linked in requiring a bachelor's degree at minimum we have allowed an entire generation of americans to shackle themselves to an ever growing college loan bubble now totali

is actually a big increase over twenty sixteen of one point five percent and related to the commerce department we always report on and discuss those u.s. monthly employment numbers the unemployment numbers which were released by the department's bureau of labor statistics the b.l.s. on the first friday of the month so we'll get to those april numbers next week but something occurred to us which we thought merited more of an in-depth look at unemployment i like to say the numbers matter and they mean something and that's particularly the case in fourteen states which all have established new record low unemployment rates in the last year almost a decade after we saw those high unemployment rates topping ten percent in the wake of the great recession where it put millions of people out of work and here to help us through some of these important numbers and the substance behind them is conservative t.v. and radio host steve malzberg thank you for joining us steve we appreciate it let's let's take a look at these fourteen states where are they around the country and one thing that we see is that t

for their own short term increases in incomes and there is more housing data out from the can commerce departmentwhich shows that march home sales increase by four percent over february that's a greater than expected rate increase in a ten point three percent higher than a year ago and among the latest earnings reports coca-cola has beaten expectations to deliver three percent sales growth in the first quarter of twenty eight thousand however revenue decline sixteen percent from a year ago to seven point six billion dollars as the company restructures to shift away from bottling and distribution the growth of four percent in soda sales while water and so-called sport. drinks only grew by one percent was especially surprising in the midst of the historic low in consumption of sugary drinks coke credited the resilience and soda sales to the introduction of four new flavors of diet coke packaged in slim colorful and coke is also hedged against the turn against soda by acquiring steaks and brands of teenage juice and other beverages. apple has reached an agreement with the republic of ireland to pay

we've just gotten some lines out of the chinese media saying the commerce department here has imposedi-dumping duties on u.s. sorghum for a temporary period. tensions probably didn't factor too much into the first quarter gdp picture, but clearly the threat of an additional 100 $80 billion worth --tariffs does weigh heavy $150 billion worth of tariffs does weigh heavy. china imposed about $3 billion my u.s.s like fruit and cherries have gone up in price. other factors could be a headwind for the chinese economy, the real estate actor and the crackdown. we do have this window for policymakers to tackle the financial risk. guy: could be a headwind for the chinese economy, the real estate actor and the crackdown we need to tae you are right now. let's talk about why you are out -- outside the zte session. how is that news being received? what is the wider implication of this? zte is a smart phone and telecoms company. it has been banned from effectively buying chips and modems from the likes of intel and microsoft. it has been effectively let's join our equity team. good morning, sam. wh

washington that could crumble and disappear overnight and you would not miss them, like the commerce departmentr education department. this is when the va does require. michael cohen, president trump's personal attorney will plead the fifth in the defamation case filed by storagey daniels. sources telling fox news rudy giuliani has taken oversteps with robert mueller and they are reportedly discussing a possible sit-down with president trump. should trump talk to mueller or keep his beautiful lips zipped? >> this is complicated for the president. they have been back and forth on this issue for a while. we never heard directly from president trump other than the notion he is innocent and he wants to proclaim his innocence. i think at this point in time it's a big question about whether a new precedent is being set and the requirements are met for him to meet with the special counsel. we don't know fully what they want to ask about. so there are two sides to this one as well. i hate to say it. kennedy: giuliani is loyal to the president, he knows politics, and he knows the law. and he also knows

the commerce department said they made false statements last year when it failed to disclose it paidbonuses for employees which engaged in illegal conduct. the firm agreed to plead guilty and pay a fine for violating u.s. laws against sales of american technology. says it plans to award a single contract for multiyear services which makes no sense. bloomberg reported that she criticized the bidding process at a private dinner with president trump. she says the process seems designed to benefit amazon. a final request for proposals which outlines a tenure contract is a scheduled to be awarded by the end of september. that is your business flash update. joe: coming up, what you need to know for tomorrow's trading day. this is bloomberg. ♪ this is bloomberg. ♪ joe: scarlet: u.s. stocks rising as we get into the heart of earnings season and netflix delivered. coming up, china gdp out tonight at 10 p.m. eastern. joe: i will be looking at economic data of u.s. building. bank: don't miss the earnings continues. bank of america today. we have goldman sachs earnings out tomorrow before the be

the commerce department determined that bp made false statements last year and in 2016 when it fell toclose full bonuses to employees which engaged in illegal conduct. the from a great last year to plead guilty and pay a $1.2 billion for violating u.s. laws against american technology firms. for suv supremacy continues inside america's showrooms. general motors is stepping up its defense of the escalator, one of the biggest hash house, by offering $10,000 discounts to some customers who keep them away from ford's new lincoln navigators. all 2016applies to model escalates and owners are $7,500 discount and the promotion runs through may 31 according to a memo obtained by bloomberg news. that is your business flash update. julie: netflix reports after the bell. that is next. this is bloomberg. ♪ shery: netflix reports after the bell. the streaming site is a second-best performer in the s&p so for this year, so will earnings provide hope for weary tech investors? here is possible become a director of north america and research for bloomberg intelligence. we saw tech selloffs, so will this

not many things in this rollout will go from the state department over to commerce.hat is really a different thing that will happen later. how differente, is president trump from, well, president obama, for example? >> what is quite interesting about this specific presidency is obama would go and push foreign leaders to buy commercial things more, but president trump is very much interested in having a role in expanding the reach of the lethal weapon. having foreign leaders really those from u.s. manufacturers. that is a great big difference. amy: that picture of him with the saudi prince with a weapon sales. talk about trump meeting with the saudi arabian crown prince mohammad bin salman at the white house, the two leaders finalizing this $12.5 billion weapons deal. during the meeting, trump holding up posters of recent saudi weapons purchases from the u.s. and saying "we make the best equipment in the world." pres. trump: saudi arabia has been a very great friend and a big purchaser of equipment and lots of other things. some of the things that we are now working o

not many things in this rollout will go from the state department over to commerce.hat is really a different thing that will happen later. how differente, is president trump from, well, president obama, for example? >> what is quite interesting about this specific presidency is obama would go and push foreign leaders to buy commercial things more, but president trump is very much interested in having a role in expanding the reach of the lethal weapon. having foreign leaders really those from u.s. manufacturers. that is a great big difference. amy: that picture of him with the saudi prince with a weapon sales. talk about trump meeting with the saudi arabian crown prince mohammad bin salman at the white house, the two leaders finalizing this $12.5 billion weapons deal. during the meeting, trump holding up posters of recent saudi weapons purchases from the u.s. and saying "we make the best equipment in the world." pres. trump: saudi arabia has been a very great friend and a big purchaser of equipment and lots of other things. some of the things that we are now working o

after the commerce department alleged it made false statements to officials.hina correspondent is standing by in beijing, in front of the zte headquarters. tom, the details here. go -- here? tom: this isn't about one single corporate, this is about a broader effort by the administration it seems, in the u.s. to further restrict chinese access to that crucial u.s. technology and innovation. this really goes to the heart of the concerns amongst chinese policymakers who are far less concerned about any tariffs on steel or aluminum and far more concerned about moves like this, restricting their companies from getting access to crucial technology. >> china removing a two decade old ownership restriction and will let companies like volkswagen and tesla own more than 50% of local ventures. on the other hand, they slapped a $179 tax on u.s. imports. it is a carrot and stick approach. >> china is dangling this large market, saying we can let foreign companies rome more freely. -- roma more freely. -- roam more freely. on the other hand, they say if you come after us, w

economy grew faster than expected in the first quarter according to the commerce department initial estimateowth domestic product. david westin is joining us to discuss this. >> he is the wizard of the economy for president trump, kevin hassett, the chair of the council of economic advisers. >> sorry i forgot my wizard hat. >> take us through these numbers. 2.3%, better than the forecast. did it surprise you? >> a little on the upside because while we expect north of 3% growth, there has been in the first quarter, where the first quarter going back to 2010 is lower than the rest of the quarters. whatever the first quarter is, if you went back to 2010 and added 1%, that would be a reasonable guess of what the growth would be feared -- would feared the fact -- would be. this quarter have five economically significant snowstorms and the effect should have been bigger. fearedfor me, the headline is e trump tax policies are working as intended. capital spending surged in the fourth quarter because tax cuts were retroactive to september and state at the high level and went up about the same amount

the commerce department says zte made statements in 2016 and 2017 and the company did not disclose painfulgaged in illegal contact and failed to defend them. banned business trips to south korea, where it faces labor unrest and possible bankruptcy. union members entered the office of the company and destroyed equipment after it moved to skip bonus payments scheduled for april 6. union has said management told them that bankruptcy is likely if a deal can't be struck on wages. betty: ridesharing start up ola once to roll out 10,000 electric rickshaws with any year, and one million battery-powered vehicles by 2021. it is in discussion with state governments and potential partners. last month, prime minister narendra modi called for most indian vehicles to be elect powered by 2030. it forthat is almost this morning. up next is daybreak asia. taking a look at what is coming up now. >> we will talk more about the china data dump at 10:00 a.m. beaching time. gdp numbers the main focus. 2018 starting out at full throttle according to our next guest at the 8:00 hour, undeterred by policy bumps alon