i am courtney donohoe. this is bloomberg.hery: breaking news, kindred healthcare holder brigade capital is expected to vote against a deal. they say a nine dollar per share .erger is inadequate brigade capital holds 5.8% of kindred healthcare and is its largest shareholder and the humanity of expected to happen with two private equity firms and a 4.1% deal. brigade capital saying it will vote against the merger. , we are talking all things luxury. this is bloomberg. ♪ >> live from bloomberg world head quarters in new york, i am shery ahn. nejra: live from london, i am nejra cehic counting you down to the european close. it world's biggest beauty products company is on a mission to transform its business boasting a portfolio of 34 international brands it is heavily investing in e-commerce. their ceo talked about the companies secret to success and how demand in china is growing. we asked what is trending right now. theater --r, luxury luxury. luxury is booming mostly with chinese customers. they love beauty and luxury. they lo

i am courtney donohoe appeared this is bloomberg. -- i am courtney donohoe. this is bloomberg.ark: does the brexit deal change the outlook for banks, we hear from ross mcewan next. ♪ vonnie: live from bloomberg will take orders in new york, i am -- bloomberg world headquarters in new york, i am. mark: i am mark barton. the u.k. and eu have managed to unlock the stalled talks opening the way for negotiations to move on to trade, what banks and businesses have been looking for but officials warning that the toughest challenges are ahead. rbs chief executive ross mcewan spoke to us in an exclusive interview about the latest developments. >> this is the good news to come before christmas and be real conversation about how can we trade with the eu. that is the important piece and this is really good news for all businesses. >> they talk about a two-year transition. bank, withof a major business to do in europe, two years enough? >> two years will be enough as long as we get detail early. this misses like ours hate to move forward as if we are not going to get any form of deal that w

i am courtney donohoe. this is bloomberg.hery: thank you. coming up, the close of trading for the year in europe is minutes away and here is a check on the dax hitting a record high this year in early november and then pulling back a little bit and still up more than 12% in 2017. this is bloomberg. ♪ ♪ newa: live from bloomberg's world headquarters in london, i am nejra cehic counting you down to the european close. shery: live from new york, imf shery ahn. -- i am shery ahn. we turn to 2018 when tax reform will be implement it. fedat down with the former vice chairman and asked for her thoughts on the new law. >> i do not think it is mostly a middle-class tax-cut. it is a corporate rate cut. that is very important part of it. weightedy heavily towards advantages for upper income people. the middle class will benefit. there are rate cuts and other benefits. some will pay higher taxes. are --dle-class tax-cut tax cuts are temporary and will go away, according to this law. they may not. it is very heavily weighted towards a bus

courtney donohoe is here. courtney: senator marco rubio is still a no on the tax cut bill.n aide says he still has not seen text of the legislation. fox news reported he decided to vote yes. he said he would not vote for the measure unless there is a bigger increase in the child tax credit. president trump said people are very angry about what is happening at the f.b.i. but plans to reinvigorate the agency. the president spoke at an b.i. graduation ceremony today. he said people who kill police officers should get the death penalty. he said it was an honor to be with law enforcement graduates. european union leaders warned that the hard part is yet to come. primessels, they agreed minister theresa may has offered enough on the divorce settlement and now they can move on to trade talks. chancellor angela merkel says the next phase will be tougher. in germany, leaders of the social democratic party have agreed to start talks about a coalition. that moves angela merkel one step closer to forming a new government. there has been three months of political stalemate since the ele

here is courtney donohoe. : the house is moving ahead with the bill to boost defense spending well funding the rest of the government through january 19. sent them across could block it and that means there will need to be a compromise to keep the government from shutting down after friday. -- inappropriate sexual behavior. alice can zinsky has been on the ninth circuit court of appeals since 1985. 15 women had accused -- have accused him of making sexual contact -- making sexual comments to them. president trump a last-minute multimillion dollar perk in the tax cut bill. lawmakers were trying to lock up republican support for the measure so the added a provision late in the process. and allows real estate companies to take advantage of the new tax breaks for so-called pass-through businesses. elected, -- has been president by a bigger than expected margin. he won nearly 55% of the vote and pledge to reverse four years of sluggish economic growth. global news, 24 hours a day, powered by over 2700 journalists an

vonnie: let's check in now on the first word news with courtney donohoe. urtney: a setback on the export import bank choice for trump. scott garrett's nomination has been opposed. the vote is not necessarily fatal to the nomination, but it would be highly unusual for senate leaders to ignore it. begins the final step towards its biggest rewrite of u.s. tax laws in three decades. house republicans are expected to easily pass the tax bill. the senate vote is scheduled for tonight. the measure permanently slashes the top tax rate from 35 percent to 21% and it doubles the standard induction used by two thirds of american households. in washington state, federal investigators say an amtrak train was speeding before a fatal derailment. going 80 milesly per hour in a 30 mile per hour zone. at least three were killed and 70 treated at a hospital when the train hurtled off an overpass. it was making its first run on a faster new route. a military coalition fighting rebels in yemen says that they intercepted amid -- missile over the city of riyadh. allowed explosion

i am courtney donohoe. this is bloomberg. laura: coming up, how are the nation's biggest banks prepared for tax reform? we hear from the citigroup ceo. from new york, this is bloomberg. ♪ ♪ i am laura keller. shery: i am shery ahn. tax reform is a done deal and how have the big banks never appearing, the citigroup ceo michael corbat joined us in november before the bill passed and here are his thoughts on the potential economic impact of the changes. michael: let's start with u.s. economy. you look at what is going on, what tax reform in many ways is about is trying to spur incremental growth. we have an economy this year probably slated to come in in the low twos. below where we have been historically and where we would like the economy to be feared what can tax reform do? on the corporate side, u.s. companies are among the higher taxpayers in the world and if we get a reduction, maybe it will be the catalyst that changes the psychology that is there. maybe that as opposed to a topline growth, expense discipline, stingy in t

let's check in on the first word news with courtney donohoe. urtney: vladimir putin says accusations of president trump colluding with russia have heard the u.s. political system. he spoke at his annual news conference and he says claims against president trump habits private political opponents to undermine his legitimacy. putin says is on a first name basis with him. house republicans are during senate democrats to shut down the government next week. they have added a military spending bill to a resolution that is needed to keep the rest of the government open after december 22. democrats one they will not go for more military spending without more increase for nondefense programs. the governmenta unveiled in $19 billion stimulus program to boost private-sector growth. the money will be used to support housing construction and waivers for small businesses. the saudi commerce minister tells bloomberg the government hopes the stimulus will create jobs. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120

i'm courtney donohoe. vonnie: thank you. we will start in europe where it's been a great year for the major european indices. joining us is isabelle mateos y lago, cheap multi asset strategist at -- chief multi asset strategist at blackrock. in the u.s., there's hope for tax reform, reflation. what happened in europe to make everything so wealthy? isabelle: we started the year with an elevated level of risk and fears that the continent would fall apart, that brexit was the start of a domino process whereby the european union would be closed. that was a very common fear among local investors. little by little, people realize this wasn't going to happen. the watershed time was the election of president macron. he managed to get elected. the's when people realized economic fundamentals are very strong and this economy is growing at the fastest taste years-- fastest pace in and the political horizon is looking pretty good and the continent is remaining united. there's discussions with the united kingdom on brexit. all of these h

i'm courtney donohoe, this is bloomberg. shery: thank you.up, why apple's ceo tim cook it's a pay raise this year. we will have the details next. this is bloomberg. next. this is bloomberg. ♪ nejra:nejra: live from bloomberg's you european headquarters in the city of london, i'm nejra cehic. shery: and i'm shery ahn. time for the stock of the hour. american express is moving higher today after a report that since that companies might see a combined $4.8 billion in reduced taxes from the upcoming tax legislation. says that equates to an additional $111 billion in market capital. joining us now with maurice taylor riggs. a huge boon for mx. >> -- amex. >> we are looking at mastercard and visa as well, these high tax companies that are set to benefit when those legislation goes into effect. they are expected to see a big increase in adjusted earnings per share. american express was raised, and their forecast was increased by about 23%. similar with mastercard. the price target was raised to 180 from 170, and their earnings-per-share in 2018 also

vonnie: courtney donohoe is with us.t franken's replacement is minnesota lieutenant governor tina smith. she will fill the seat when he formally resigns. smith says she will be a fierce advocate for economic opportunity and fairness. inflation in the u.s. picked up, thanks to higher energy prices. it rose 4/10 of 1%, that when you take out food and fuel, inflation increased 1/10 of 1%, and that could factor into fed discussions on raising rates. in new york, authorities say the case against a would-be suicide .omber is open and shut he will make his first court appearance today. a federal prosecutor says he made it clear he was on a mission to punish the u.s. for attacks against islamic state. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am courtney donohoe. this is bloomberg. vonnie: coming up, meet mexico's new finance minister. he joins live next from mexico city. this is bloomberg. ♪ ♪ live from bloomberg's new european headquarters in london, i am mark

i am courtney donohoe. this is bloomberg.ark: coming up on the european close, and interview with bruce richards, marathon asset management chairman and chief executive. this is bloomberg. ♪ ♪ new europeanom the headquarters in london, i am mark barton with the european close roughly 14 minutes away. vonnie: live from new york, i am vonnie quinn. to an exclusive interview, erik schatzker is here with one of the heavyweights and credit -- in credit. . >> bruce richards is the credit -- is the ceo of marathon. i want to start with the issue on everyone's mind. tax reform or tax cuts, if you prefer. you and your colleagues have done a lot of work on this and analyzed it to try to figure out what it means for marathons and markets and investors and what have you concluded? blackjack, 21 is a winning number and for companies , 21 is a big difference to say, paradigm shift to have a 21% tax rate because it makes companies in the u.s. for the first time tax competitive around the world with the average tax rate around the world for

i'm courtney donohoe. this is bloomberg. vonnie: thank you. breaking news now.ou can see there is a news conference ongoing. global bank regulators have broken a year-long deadlock and closed the book. chairman of the group of central bank governors, the head of supervision leading all of this. he is out there with a victory lap in some ways. mark? mark: it includes new curbs on how banks estimate the risk of more -- mortgages, loans, other assets on their books. they want to improve transparency. it is a big announcement. it has been a year in the making. these sweeping sets of rules in the aftermath of the 2008 financial crisis, to make the financial system safer. we will keep an eye on this. mario draghi is and is speaking. coming up kenneth moelis joins us for exquisite interview about tax reform, m&a, in the future of the global economy. this is bloomberg. ♪ ♪ mark: i'm mark barton. vonnie: the european close is just a few minutes away. i am vonnie point in new york. the republican party promised tax reform would be a two jobs, companies in the economy. how

let's check in on the "first word news," with courtney donohoe. urtney: -- to declare jerusalem israel's capital. the president will also announce today that they will move their embassy there. turkey and other u.s. allies there warned it could make problems in the u.s. -- in the middle east worse. russia's president has announced that he will run for a fourth term in march. and that ends months of speculation over what he will do next. he is a favorite to win and other six year term. another brush our -- brush fire broke out in california. it is threatening some of this -- some of los angeles' hills neighborhoods. authorities shut down one of l.a.'s busiest freeways. north west, the fire in the ventura area is still out of control and forced 30,000 people to flee their homes. time magazine's person of the year is the group that has become a movement. thes what time calls silence breakers, the women who came forward to accuse powerful men of sexual harassment. time made the announcement on nbc's today show. global news, 24 hours a day, powered by o

i am courtney donohoe to this is bloomberg. vonnie: suzanne de gaulle tech turnaround tuesday? say turnaround tuesday? ♪ ♪ mark: live from bloomberg's world opinion headquarters, i am mark barton. vonnie: this is the european close on bloomberg markets and i am vonnie quinn. toll brothers down sharply, on its face for its worst day in two years after fourth-quarter numbers. abigail doolittle is here with us. >> it wasn't the worst quarter, the mr. earnings and revenue -- they missed earnings and revenue estimates but a high bar for expectations with the stock up more than 60% year to date going into the quarter and they were expecting the company to deliver. you could say shares were priced to protected relative to expectations. the stock on its face for its worst day since 2008. it was during the housing crisis. some think to buy the weakness, some macro trends more positive. one analyst defending the shares of toll. vonnie: takes place the recent -- explained the reasoning behind it. analyst from bloomberg said the good news is it is not a demand issue as it is very strong, e