now first word news with mark crumpton third mark: president trump -- with mark crumpton. the president says he will have a signing agreement with the xi jinping and says he is very close to getting an agreement. he says there also is a chance it will not happen at all. delayed thet has friday deadline to increase tariffs on $200 billion worth of chinese goods. european council president donald tusk says the chances of a brexit deal being sealed are fading. speaking at a summit today, he said that he is urging the british prime minister theresa may to request that negotiations be prolonged. >> i believe that in this situation, an extension would be a good solution, but prime minister may still believes that she is able to avoid this scenario. mark: may says the delay will not solve anything and that "it is within our grasp to leave the eu on march 29." thousands more civilians fleeing syria, and evacuating from the last pokitdok -- pocket of territory held by the atomic state. an estimated 300 islamic state militants are in a small village near the iraqi border, penned in

mark: i'm mark crumpton.he needs to look further at the tentative bipartisan border security deal. the agreement could help avert another government shutdown. the deal would grant far less than the $5.7 billion the president is demanding for a wall along the u.s.-mexico border. that -- and iyou happy at first glance? the answer is no, i'm not happy. am i happy with where we are going? i'm thrilled because we are moving things around and we are doing things in a fantastic -- mark: the huge funding measure would combine seven spending bills into one. secretary-general announced today the lines would respond to russia's violations of a key cold war era treaty. he urged russia to return to compliance with the intermediate itge nuclear forces treaty reached bilaterally with u.s. in 1987. config very second -- on february 2, washington begin the process of leaving the imf. several battalions of the missiles -- despite the efforts of the united states and other nato allies over many years to encourage russia to retu

now first word news with mark crumpton. secretary of state mike pompeo is in hungary on the first leg of a european tour. he is hoping to raise concerns about the growing influence of china and russia in central europe. he is expected to point specifically to europe's reliance on russian energy, and the presence of the chinese high-tech telecom firm while way -- huawei, particularly in hungary. and human rights group is urging the united nations to look into violations against antigovernment protesters. sudan has been gripped by protests since december. the demonstrations were triggered by shortages, but quickly turned into calls for the president to step down. human rights watch says video xtreme violencee against protesters by government forces." and endeavor is expanding its first teachers strike in a quarter century. it is not clear how many of the city's more than 5000 educators are taking part in the walkout over salaries. all endeavors schools have remained open -- denver schools have remained open on the first day o

first word news now with mark crumpton.he house judiciary committee says it is prepared to issue a subpoena to matthew whitaker if he tries to avoid answering questions under oath. he is expected to appear before the panel on friday, to discuss special counsel robert mueller's investigation. he took charge of the justice department in november after president trump fired jeff sessions. mr. trump has since picked william barr to serve as attorney general. the british prime minister is insisting that she wants to keep the most contentious part of the brexit plan for avoiding a hard border with ireland. she said today that she will not push people to accept an exit deal with the european union that does not include a guarantee for keeping the irish border open for goods and trade. >> i can only get a deal through parliament is legal changes are made to the backstop. and that is why the u.k. government and the majority of mps from across the house of commons supported the amendment from grady last week. it reaffirms our desire

mark: i'm mark crumpton.udiciary committee said it is prepared to issue an subpoena to matthew whitaker. whitaker is expected to appear before the panel on friday to discuss robert mueller's russia investigation. he took charge of the justice department in november. mr. trump has picked william barr to serve as attorney general. theresa may is insisting that she wants to keep the most contentious part of her brexit plan for avoiding a hard border with ireland. she said the deal won't include a guarantee for keeping the irish border open for goods trade. >> i can only get a deal through parliament if these changes are made to the backstop. that's why the u.k. government and majority of mps supported the amendment from brady last week. if we affirm our desire to leave with a deal and our commitment to no hard border between northern ireland and ireland. mark: the prime minister's comments were aimed at reassuring a local audience in northern ireland. turkey is criticizing the u.s. over delays in setting up a bu

i am mark crumpton. this is bloomberg. ♪ shery: from bloomberg world headquarters -- >> welcome to bloomberg markets. we are joined by bloomberg and cnn bloomberg audience. here are stories we are following. >> trade talks near a pivotal point, going to the white house and president trump's scheduled meeting with china. >> the condiment scam gets squeezed. fast food -- shares falling after a breakdown. >> why it a u.s. senator is renewing calls to oust the bank's ceo for the fed and its forecast. we can check on the markets here [indiscernible] see some optimism. because of that, white house allegation. we do have particularly tech looking buoyant. it is worth noting on the s&p 500 [indiscernible] financial and consumer staples. when you drill into this, berkshire hathaway. consumer staples, this one. tines ises -- craft falling. we are seeking slightly better sentiment. seeing dollar reaction. 27%, a quarter of market value lower. that is having a halo effect. insulatet stocks that -- anybody else getti

now first word news with mark crumpton. bipartisan negotiations are continuing this week in the hopes of avoiding another partial government shutdown. at a weekly news conference, the house speaker, nancy pelosi, sounded hopeful. conference is going on now to pass legislation that will keep the government open. i do not think that is a question. but anyway, to protect our border and protect our values. i have confidence in the appropriators, not because i know where they are doing, but because i have confidence in the process. reached a deal is not by february 15, funding will run out for about 25% of federal agencies. the president attended the england national prayer breakfast today, telling the attendees, "i will never let you down." audience included members of his cabinet, including house speaker nancy pelosi. donald trump spoke at the breakfast, which has been attended by every president says dwight eisenhower. there european union is slashing forecasts. they are saying the economy will grow 1.3%, down 6/10 of a perce

we turn onto mark crumpton for first word news.ark: president trump appears to be responding to a new york times report that he has carried out a secret assault on the investigation that centers around him. he tweeted that the times report is false, and that the paper is a true enemy of the people. the times calls his campaign an attempt to create a narrative of a president wounded by "deep state enemies." the former fbi director andrew counsel'sose special that the he says public should know if they have found the smoking gun or nothing at all. -- says regulations call for it to be confidential. and syria is accusing the u.s. of sabotaging improved in ties with other arab nations. a media advisor to the president says the u.s. has pressured allies the block syria's reinstatement into the arab league. hurtingser says it is attempts by damascus to unlock funding to rebuild after eight years of civil war. and venezuela's leader juan guaido has offered to forgive the military for abuses under nicolas maduro, but the call for amnesty i

we go now to mark crumpton. white house press secretary sarah huckabee sanders says president trump does not want to see another government shutdown. but he is also not willing to back away from his plan to build a border wall. speaking to reporters at the white house today, sanders was asked whether the president will sign a bipartisan congressional border security deal. isn't -- theident president isn't fully happy with everything that is in the legislation, but there are some positive pieces of it. one way or the other, one thing you can be sure of come at the end of the day, the president is going to build a wall. bloomberg has learned continued partisan fighting over this specific text of the deal may delay its release and put off voting until thursday. heresa may deflected questions el chapo guzman facing life in prison. officials will not be taking any chances when it comes to his confinement. he escaped two high-security mexican president -- prisons before his recapture. he will likely be sent to the fed

i'm mark crumpton. this is bloomberg. >> live from bloomberg headquarters in new york, i'm vonnie quinn. amanda: in toronto, i'm amanda lang. we are joined by our bloomberg and bnn bloomberg audiences. escalating trade blows between the u.s. and china weigh on markets as u.s. stocks fall for a third day. helping to add global equities for the first weekly decline of the year. amazon's plans for its new york city headquarters could be scuttled. we bring you the latest. barbie versus transformers. mattel stock surges. hasbro slides, all on holiday quarterly results. we are checking on all of that in the next 30 minutes. the majora check on averages which are on the decline into the weekend. the dow is down .7 percent. the s&p 500 down almost half a percent. the nasdaq is down one third of 1%. to look at what the markets may be responding to, the outlook for global growth, showing up in global yield. have a look at the average yield on the u.k.-u.s.-chinese, -- you can see the long-term trend has been down

i am mark crumpton.omberg. caroline: it is 2:00 in new york, 7:00 in london. i am caroline hyde. scarlet: i am scarlet fu. this is "bloomberg markets: the close." caroline: president trump travels to texas as congress remains at arts over immigration issues. another deadline approaching. robert lighthizer warns the deal needs to be closed before they ratchet up tariffs. brexit uncertainty drives u.k. investment to the worst level since the financial crisis. all that and more coming up. scarlet: let's get a check of the markets. friday littleg changed, we are seeing u.s. stocks continue the trend today. the gains faded fairly quickly. among the advancers, energy stocks and transport. on the downside, transportation and utilities. caroline: pretty unchanged. the dow jones seems to be outperforming. on the upside is the nasdaq. the dollar cannot be stopped. scarlet: it is up every day since january 30. eight straight days of gains, the longest stretch in three years. a lot of talk about other central banks

i'm mark crumpton. this is bloomberg. shery: live from bloomberg world headquarters in new york, i'm shery ahn. amanda: live in toronto, i'm amanda lang. welcome to bloomberg markets. here are the top stories we are following from around the world. trade pessimism, u.s. stocks fall the most in two weeks as investors grow anxious that the trump administration will not reach a deal with china before a march deadline. lights, camera, action. us to talko joins about what is in store for the company in the year ahead. softbank sores. sendsggest buyback ever shares surging the most in a decade. we are halfway through the trading day. stocks have taken a turn for the worst. taylor riggs has more. taylor: down new the lows of the session on the s&p 500. 300 companies in the index reporting. the top beating on line. 70% of companies beating on the bottom line. morning, a slew of earnings. the nasdaq by far the worst performer of the day. i want to go into the stoxx, smaller averages. stocks are up about 2%. nxp semiconductors gave

i'm mark crumpton. this is bloomberg. >> live from new york, i'm vonnie quinn. >> live in toronto, i'm jon erlichman david welcome to "bloomberg markets." >> here are our top stories. trade progress. president trump reiterates he may extend the terror truth with china and takes a potential deal with opposition lawmakers. fourth-quarter results released minutes ago from uber show persistent losses, slowing revenue growth. what does it mean for a public valuation? newest motorcycle. we speak to the north american ceo who talks about the , the fastest in its history. ast is all to come, as well an interview with the pepsi cfo. quick check on the major averages. the dow jones close to its highs of the day. s&p 500 also bouncing back. know john, which i will drill into, up .3%. crude oil saleh major rally. looks like there are more output cuts impacting the market. $55.23 today. jon: the nasdaq continuing its recent run. we have seen one of the best mix of performance dating back to 2016. when you look at th

i am mark crumpton.officials are scrambling to finish preparations for a summit between north korean leader kim jong and i'm president trump. officials say they had 10 days to prepare for the summit, much less than the two months singapore was given for the first meeting last year. they are promising to provide airtight security for the leaders. the egyptian president defended his country's widely criticized human rights record and warned europe not to lecture the arab world. he made comments after a meeting today. the president said you are not going to teach us about humanity. he added on issues whether there should be a death penalty, european and arab nations had difficult ethical approaches. the european council president disagreed, saying under no circumstances would he give up on freedom and democracy. >> insisted that our summit declaration should include our commitment, common commitment from both sides to the upholding of international human rights law. mark: european union leaders avoided publ

mark: i am mark crumpton. a u.s.ation led by robert lighthizer and stephen mnuchin continues the latest round of trade talks. chinese negotiators are hoping to stave off president trump's threats to hike tariffs on chinese imports. this is based on the u.s. complains that china steals -- an american service member has for spying on behalf of the iranian government. after she allegedly helped iran target former federal agents. over wants more control usage of facebook's popular messaging service, whatsapp. it's been used to spread violence and pornography throw the country. refused,has

when you now to mark crumpton for first word news.ark: mitch mcconnell is praising appropriators for reaching a tentative border security deal that funds miles of new barriers and finishes the remaining seven spending bills needed to keep the government-funded be on this friday. >> our colleagues are working hard to produce a legislative text, i look forward to reviewing the fulltext, and hope the senate can act on this legislation in short order. mark: bloomberg has learned that president trump has not yet decided if he will support the deal. retired astronaut mark kelly today announced he is running to finish and john mccain's last term in the u.s. senate. the 54-year-old is considered a top recruit to challenge martha mcsally in arizona. it is expected to be one of the most closely contested senate races of 2020. a top pentagon official in iraq to talk about the future of american troop presence in that country. acting secretary of defense pat shanahan met with the prime minister, as well as u.s. military commanders. the u.s. has a

i'm mark crumpton. this is bloomberg. ♪ >> live from new york, i'm a vonnie quinn. >> i'm amanda lang. welcome to bloomberg markets. we are now joined by our audiences. >> here are the top stories we are following. u.s. stocks are mixed this friday. disappointing sales forecast way on tech shares. >> hiring topping old forecast. pepsi is invading coca-cola's home turf on the super bowl. what you need to know ahead of the big game. let's get a quick check of the major averages. the dow is up for tense of a percent. the s&p has been flirting with a non-gain mark for some time. wonderful earnings, also negative stories as well. amazon is dragging down the nasdaq. this friday.s crude oil is up. it is trading above $55 per barrel. i'm amazon story, i know that india is something amazon is looking at. >> india is very much in focus. before we talk about that, i want to show you where india ranks in terms of gdp growth. ashas now displaced france the world's sixth largest economy. what is notable is data from

i'm mark crumpton. this is bloomberg. it is 1:00 in new york, 6:00 in london, 2:00 in hong kong. i'm vonnie quinn. welcome to "bloomberg markets." from new york, here are our top stories on the bloomberg and around the world. trade talks resume now that the u.s. is bring up to you on again, asking china to give the currency stable. mohamed el-erian among those that say lose the plots. what we will read in tomorrow's fed minutes. the death of one of the world's most celebrated fashion designers. what it means for the future of chanel. all of that to come in the next 30 minutes. abigail doolittle is with us. very small moves for the major averages. the dow and the s&p up fractionally. the nasdaq up one quarter of 1%. hold,ors short of on winning for more information about trade, d.c., the bad, or even as earnings season wraps up. philadelphia gold silver index up 2%. here we have some of the intraday movers. freeport up 7.2%, upgraded over at citigroup. this follows an upgrade last week by morgan stanley on rising copper pr

i'm mark crumpton. this is bloomberg. jason?ason: thank you, mark. virginia, where three top democratic officials and one republican are embroiled in scandals, invoking racism and they me too movement. the governor, attorney general and a senator have appeared to wear blackface. while the governor has -- while the attendant governor has -- th e lieutenant governor has been accused of sexual assault. kyle is with us. let me ask you a question, because we heard about jeff bezos, and one thing he is in the headlines for, one thing that is familiar to you, business and politics colliding. amazon reportedly pulling out of its deal to put a second headquarters here in new york. virginia seems to have successfully hung onto amazon. what is the politics here, why did virginia or why was virginia successful in new york not so much? kyle: my understanding is there has been pressure in the state legislature about basically the tax giveaway for amazon in new york that has not really emerged in virginia. there was a bidding war across the co

i'm mark crumpton. president trump says he is declaring a national emergency on the southern border in order to unlock money to build a wall. the move will allow him to bypass congress to spend a total of $8 billion on a border wall. speaking from the white house rose garden today, the president said he knows there will be legal challenges. expect to bemp: i sued. i shouldn't be sued. very rarely do you get sued when you do national emergency. then other people say, oh, if you use it for this, then what are we using it for. we have to get rid of drugs and gangs and people. it's an invasion. mark: in a joint statement, house speaker nancy pelosi and senate leader -- minority leader chuck schumer called the unlawfulon, quote, "an declaration over a crisis that does not exist." the vice president continued his visit to europe today with a stop at auschwitz. it was his first visit to the murderedp where nazis more than one million people during world war ii, most of them jews. pence and his wife were joined

i am mark crumpton. as is bloomberg.ine: $71 billion search for celgene seems to be on tenterhooks. investor welling agrees the store markups should be an active business development but don't believe a celgene transaction is an attractive path forward. another active investor nominated five directors to the --rd of bristol meyer's crib bristol-myers squibb. let's talk politics. we talk brexit with none other than our bloomberg editor in chief. there is back and forth in the throes of political drama. it seems this is getting quite amazing in the u.k. right now. >> it may just be the can is kicked down to one bit of the road to where it's quite difficult to push further. and now looks as if on march the 12th, we will have a vote on theresa may's deal. as mark crumpton laid out in the news. after that, if it does not get through, which i suspect it's likely they will then -- likely it won't, they will then rule out no deal. meanwhile, a fact that a deal could get through, that got to little bit more likely. joe: we've see

i'm mark crumpton. this is bloomberg. ♪ scarlet: from bloomberg world headquarters in a snowy new york, this is "bloomberg markets : the lows." caroline: we are 30 minutes from the end of the trading day. the dow jones industrial average 1.5%. basically mcdonald's is only off by less than 0.1%. every single other member is in the green. caterpillar, dupont, why are in a leading? they are treated exposed, and there is we will get some sort of china and u.s. trade deal. scarlet: progress on potential trade talks and border security helping us avert a government shutdown. both of those driving. the last two days, it felt like we were just waiting. caroline: what is also up his the pound a little bit. a story of dollar weakness today. theresa may updating lawmakers on the progress or lock them of brexit talks. but this has been a risk on rally across the world. scarlet: dollar weakness is accompanied by a selloff in longer data treasuries. tlt off by 0.3%. let's get now to our top calls. this is a look at s

i'm mark crumpton. this is bloomberg. ♪ scarlet: from bloomberg world headquarters in new york, this is "bloomberg markets: the close." caroline: we are 30 minutes from the end of the trading day. nasdaq has been the outperforming throughout the day. we are only up a 10th of a percent. ea has been helping. at one is up almost 5% point today. it seems a downward trend for all the gaming stocks. red.ronic arts now turns complete confusion as to the march contract. this should signal a tight supply, but there is no tight supply. confusion about. scarlet: and of course it comes right before valentine's day as well. we are keeping a close eye on the swiss. the japanese market was closed, so very thin liquidity but it seems to have recovered from that. you mentioned how u.s. markets have seen the gains fade. they opened higher. dollar, eight straight days of gains. the longest stretch in three years. caroline: it really does seem that the dollar is king. todayother g10 currencies under. scarlet: morgan stanle

i'm mark crumpton. this is bloomberg. ♪ scarlet: from bloomberg world headquarters in new york, this is "bloomberg markets: the close." caroline: we are 30 minutes now from the end of the trading day. remember, the s&p 500 still higher by more than a percentage point on the week. basically flat today. what leads us higher is the likes of energy, lower the likes of technology. amazon off by more than 5%. earnings dismal. concern about india. the chinese many factory numbers the worst we have seen since 2016. did i say it right? scarlet: pretty much, yes. caroline: we seeing the dollar higher again. course, amazon is something we are keeping an eye on after a disappointing forecast for this quarter. dow is the outperform or of the three major indexes because of earnings from chevron and i can't lifting energy stocks -- exxon lifting energy stocks. software makers doing the best in the s&p 500. of course, the great british pound. caroline: not so great today. scarlet: not so great today. not so great for t

i'm mark crumpton. this is bloomberg. david? david: thank you, mark.anders ran from the left against the favored hillary clinton in 2016, and a surprise to many with how strong the challenger -- the challenge is what he made. and he will be running again. >> i think that the current argument in the white house is an embarrassment to our country. i think he is a pathological liar every day. and it gives me no pleasure to say that, but i also think he is a racist, a sexist, a homophobe, a xenophobe, somebody who is gaining cheap political points by trying to pick on minorities, often undocumented immigrants. david: welcome somebody who advised him in his last campaign and is now the senior advisor for the 2020 campaign, chuck coming to us from washington. thank you for joining us. i want to refresh our recollection by how well bernie sanders did last time. we have a map that shows that he won the primary in 22 states. what did you learn from the last race that you can apply to this race to do even better? chuck: i have been doing this for 29 years and i

mark: i am mark crumpton. appeals court panel has rejected a challenge to special counsel robert mueller's appointments involving an trumpate of a former campaign manager by zero roger stone, brought forward by andrew miller, who refused to testify in the russia pro before a grand jury, challenging the legitimacy of his appointment. quote alls going to of the casual tease after they destroyed a fire campaign afghanistan. pakistan denies the airstrikes did any damage and pakistani television footage shows little bomb craters and down trees. the united nations envoy is an yemen to implement a peace deal in and around the city there. they agreed on the first stage of the mutual enforcement from the port city. both sides agreed to a cease-fire in december and a prisoner exchange that has yet to take place. cargoay's crash of a plane carrying packages for amazon is renewing concerns about th

i'm mark crumpton. this is bloomberg.ator bernie sanders former goldman ceo are fighting over stock buybacks. that is after sanders announced that he plans for legislation to restrict corporations for buying back their stock. sanders responded by criticizing that the use of money from buybacks and called for increasing wages for american workers. abernathy is the vice president of research and policy at the roosevelt institute a left-wing think tank. she joined us to talk about this. it seems like the underlying argument that they are trying to address or make is one about addressing income inequality. i wonder whether addressing or attacking iraq in and of themselves is going to lead to the solution they are trying to solve? >> i think they are talking about income inequality but they are also talking about how to productively allocate capital. we have run our economy for the last if he years on the idea that shareholders and the eeoc and large operations were the most effective players at allocating capital in our econo

from new york, this is bloomberg. ♪ i'm mark crumpton. learned that president trump has decided not to declare a national emergency on the u.s. border with mexico during tonight's state of the union address. the president suggested last week he might declare an emergency during or shortly after the annual speech to congress. that declaration would allow him to circumvent lawmakers and begin building a border wall. has decideduse tonight's speech will focus on unity. at has his doubts. president ands his penchant for hyperbole, he will probably say the state of our union is stronger than it has ever been. thanks to him. knowing this president, he will rely on distortions and made up facts. this leader the american people. the only question about the president's state of the union, how often will he distort and make up facts and resort to fear and divisiveness? schumer was making his comments, the president tweeted that he had not even seen the speech yet. representatives of the taliban including a former president are meeting in moscow for

i am mark crumpton. this is bloomberg. ♪ ♪ >> from bloomberg world headquarters in new york, this is bloomberg markets: the close. i am lisa abramowicz and for caroline hyde. scarlet: and i am scarlet fu. right now you have stocks still on the downside, although they have come off their lows. look at energy stocks, the leading laggards here for the well.nd for the week as amazon is something we have been trying to figure out why exactly falling. yes, there are a lot of feuds, whether it is the company versus new york city activists, or the ceo with the national enquirer, but there doesn't seem to be a real reason here. lisa: yes, there is a bid for bonds. on a broader level, if you look at iron ore, it is actually losing some steam also after a really big week. nasdaq almost positive on the day, and that was the iron ore, a little bit down after a 27% gain in 10 sessions. the brazilian company having a lot of issues with its dam. and 30 year yields are also getting the bid, interesting, after an auction

. ♪ mark: i'm mark crumpton with bloomberg's first word news. the roller coaster of u.s.orea relations is revving up as president trump needs for a second time with kim jong-un. the president has gone from threatening north korea with fire and theory to saying he and cam are "in love." ize is pledging to denuclear his nation and turning his energy to developing his country's economy, but many experts are skeptical. kevin cirilli is in vietnam for the summit. the former u.s. ambassador to the united nations sold the house foreign affairs committee that he wanted president trump talks.de -- succeed in both men are in vietnam for the second summit to address perhaps the world's biggest security challenge, kim's pursuit of the nuclear program. >> i would not trade in and to the war treaty -- unless there is a denuclearization of sizable numbers of dismantling the weapons and wmd and missiles. i would not. mark: he thinks more attention should be given to japan's needs and their relationship at the white house. sarah huckabee sanders said it that anyone would take a convicted

i am mark crumpton. this is bloomberg.e: chinese negotiators are in washington for trade talks in the u.s. is asking china to keep the yuan stable. meanwhile, the u.s. faces trade tensions on another front. as president trump mulls raising tariffs and the eu vows retaliation. let's bring in our trade reporter in washington to break it down. the yuan stabilization, i thought it was stabilizing. it has been strengthening for a month or so. why the need to press harder? last year,back to there was a point the u.s. introduced the first wave of tariffs against china and the trump administration thought the one of the ways the chinese reacted was by letting the yuan depreciate to offset the impact of the tariffs. the trump administration does not want to see that happen going forward, if there is any deal, because the tariffs are likely to remain in place and be one of the ways the trump administration polices any deal. it also fits with a org-standing u.s. concern concern in parts of washington that the chinese have been manipu

i am mark crumpton. this is bloomberg. the consumer financial protection bureau is moving to loosen regulations on payday lenders. pay day, auto title and certain installment, they will have to determine a borrower's ability to pay high interest short-term loans. .his was the inaugural director he was the democratic nominee for the ohio governor's race once. welcome to the show. the ability to pay requirement could be put to one side. the criticism is it would reduce access to credit and competition and how do you answer that? >> the criticism is it would be too onerous for the lender to decide if the borrower can repay. in the payday industry, the business model is to prefer our hours who cannot reap -- prefer borrowers who can't repay. they keep rolling over and pay long fees for a long time. the rule that was put in place does restrict access to credit credit so irresponsible that is predatory because it is not paying attention to whether the borrower can repay, that is the problem. the defenders would say people use th

i am mark crumpton. this is bloomberg.ne: we have breaking news on mgm, announcing management changes at the top, including appointing a new cfo, corey sanders will be the new cfo. he was already at the company as coo. taking over his role will be bill hornbuckle who is the president and will keep the president title and assume the title of coo. inoline: more breaking news the united states. a chinese giant when it comes to search, they are beating in terms of fourth-quarter revenue. it beat the highest that cement on the bloomberg consensus. we saw revenue common overall at three points nine $6 billion -- $3.96 billion. fourth-quarter adjusted profit is a beat, but is still down compared to this time last year. they are bringing in $1.92 in terms of fourth quarter adjusted profit. that's well ahead of expectations. the shares are bouncing after hours with of these better than expected numbers. lisa: it seems like it has not been as severe as people expected. we are seeing a little bit of a cooling and emerging-market curr

i am mark crumpton. this is bloomberg.: a bit of breaking news. -- avis budget group is reporting earnings. -- areres arising rising. analysts above what are expecting and gave a fiscal full-year forecast were the top end of the range was above the consensus estimate for 377. ins stock got dinged hard the last reporting cycle because of rising cost. the company said those costs fell about 7% in the most recent quarter. hertz is also gaining after hours. caroline: let's have a quick look at what is happening in the u.k.. theresa may is inching closer to a fresh divorce deal with the eu. that is all while facing a rebellion at home. she met with jean-claude juncker with both sides calling the discussions constructive. she still faces objections over the irish backstop. after her meeting, theresa may said she is seeking legally binding changes. all of this as we see reports that the rating company that could cut the aa rating lower. in thee, let's bring founder and chairman on the geopolitical features from austin, texas. geo

i'm mark crumpton. this is bloomberg. david? mark. you, pursuedt trump has different trade to terms with china, europe and others. are alreadyfforts putting it in for on international trade, as can be seen in this bellwether.; exports from south korea are down. and we will come now douglas holtz-eakin president of the , american action forum. he is coming to us from washington. thank you for being with us. douglas: my pleasure. david: we can argue about whether it is worth the price being paid, but let's talk about the price you reduce to global trade. quantify how bad is it -- quantify it, how bad is it? douglas: it is difficult to say. the globe is growing more slowly and you can say that traders down because growth is down, but there is reason to suspect growth is slow because we have the south korean example of a trade reliant country with a tray drop off, and that is hurting -- trade, drop off and that is hurting things domestically. call.as been a wake-up this is about reducing barriers to trade as a way to raise growth around t

i am mark crumpton. this is bloomberg. ♪ joe: the euro area missing the mark.oduction falling at its fastest pace since the financial crisis, leaving the expansion for the area at risk of billy topping 1% growthless year. for more, i want to bring in the senior fellow on the council of foreign relations, my guest. previously wrote that no more than ever, there's a clear argument for german fiscal stimulus. crazyw there are not about spending money there. their own fiscal surpluses huge. the johnis it time for government to loosen its pocketbooks? a long-term commander has been a case that germany should spend more largely to help its neighbors out, help the brea down germany's external about 8% of gdp in germany. another is a domestic case for stimulus as well. germany's own economy is slowing, it was actually one of the weaker euro area economies in the industrial production server and in a gdp numbers, which were slightly negative. q4 was only slightly positive. so there is a domestic as well as external case for fiscal expansion. caroline: let some would cou

now first word news with mark crumpton. the house intelligence committee is set to vote today to send more than 50 interview transcripts from its russia probe the special counsel robert mueller. two of president trump's associates have been charged with lying to the committee, and the panel wants robert mueller to consider whether additional perjury charges are wanted. the vote comes the morning after president trump criticized what ulous partisanic investigations" in his state of the union speech. the president will go to texas next week for his first campaign rally of the year. he will rally supporters on monday in el paso. he cited the city last night in his state of the union speech as an example of a border city he says became safer after a barrier was installed. and the european union president took a swipe today at u.k. politicians who campaigned for brexit and made it seem like the divorce would be easy. he spoke at a press conference with the irish prime minister in brussels today. >> i have been wondering what tha

i'm mark crumpton. bloomberg. ♪ vonnie: from bloomberg world headquarters, i'm vonnie quinn. >> in toronto, i'm amanda lang. we are joined by our audiences. here are the top stories we are following. in hanoi.trump lands he will meet with kim jong-un. we will explore what is at stake in the summit with the former ambassador to china. and a chilly season for retail sales, they implemented -- they have plummeted in december. a quick check of major averages. sideways action in the major averages today. we saw some intraday reaction to jay powell. we heard from him that the growth outlook may be uneven, but that he is not worried about inflation, so we have a pricing in of expectations for were the fed could go on rates. what you saw was a decline in treasury yields. we saw a reaction there, certainly. in terms of where we have been, take a look at housing starts, analysis about the 2016 low we are seeing in the start of new home built in america is attributed to financial uncertainty, the turbulence at the

i'm mark crumpton. this is bloomberg. david? david: thank you.ts of robert mueller's in the report on the campaign ties to russia have been exaggerated, until now, there are now growing indications we could be getting close. we thought we would call into people who have followed the probe from the beginning, who have covered big political events, and sometimes have different point of view. here is tim o'brien in new york, and eli lake in washington. talk about what we think we know, or start with what we do know, what president trump said about the report. this is what he said. that will be totally up to the new attorney general. a personremendous man, who respects this country and respects the justice department, so that will be totally up to him. david: the question was, will it be released when you are out of the country? at least we have a president now who believes in his attorney general, which we have not had for some time. eli: that is right. we still have to see exactly what will be released. the one thing i would say is any expectation

we're going to go to mark crumpton. congress plans to vote today on a spending bill to avoid another government shutdown. president trump signaled he will probably accept the plan, though he has not committed to signing it. the plan provides for $1.3 billion for new border fencing, far short of the $5.7 billion the president had demanded. the measure must be in a before midnight friday to avoid another government shutdown. dozens of india ticket he forces were killed today in the country's worst terrorist attack since prime minister narendra modi came to power in 2014. asian news international reports at least 40 personnel were killed in an attack on the convoy. a pakistan-based terror group has claimed responsibility. the pakistani government has yet to comment on the assault. more than 1000 florida schools paused this morning from moment of silence to remember the 17 people killed a year ago today and the nation's deadliest school shooting. ceremonies and remembrances are being held across the state honor those killed

i'm mark crumpton. this is bloomberg.avid: employers added 300-4000 jobs last month, far more than the 155,000 that economists had expected. it was well above trend, even after taking into an account -- taking into account the reversal downward. we take a little with this means. >> more people are working and prosperous. and by the way, it is not inflationary. productivity is rising. and the policies of lower tax rates and deregulation and energy and trade reform are working. we are sticking with our 3% economic growth rate. david: we welcome now tim phillips, coming to us from washington. this doesn't sound like prosperity. what is behind it, what is causing this remarkable job growth? tim: the tax cuts and tax reform that congress passed in 2017 and the president signed, those are crucial, lowering the corporate rates was important. and the second part, this administration deserves credit, they have been consistent across the board in removing the barrier of excessive regulation that has held back so many jobs, so much

i am mark crumpton with first word news.kution president trump's emergency declaration to build a wall on the southern border. it would force republicans to decide whether the president is using his authority for federal spending. measure could get enough votes to pass with a simple majority but the president could veto the resolution which would take a two thirds vote to override. politicians at the highest levels of theresa may's government say the prime minister should step down in the next three months. she has already promised her party she will stand down for the next general election, slated for 2022. u.k. will leave the e.u.'s shortly after district elections. cardinals attending the vatican summit say the downfall of one of their colleagues was stricken from the church.

i am mark crumpton. this is bloomberg. ♪ >> live from bloomberg world headquarters in new york, i am taylor riggs. >> and i am live in toronto, amanda lang, welcome to bloomberg markets. here are the top stories we are following from around the world. trump walks. the summit ends without a deal after president trump and kim jong-un failed to agree on a solution. greenspan on gdp. we hear from the former fed chair on the fourth quarter figures live from the conference in washington. and if time were money. we take a look at the most expensive commutes in the u.s. and how much your trip to work is costing. let's start with a look at the major averages. a lot of sideways action. a lack of conviction, perhaps. mixed bag. gdp of coarse a stronger number than some had expected and yet, said friendly lack of inflation, it is keeping maybe people guessing a little bit. there are a couple of sectors and the names that are still moving. health care on the decline today. holdings are down sharply after it missed it

i'm mark crumpton. this is bloomberg. david? david: thank you.egotiationsade are coming back to washington and the president said they are making progress. as he put it, "whatever that means." pres. trump: we have had a negotiation going on for two days. it is going extremely well, who knows what that means, because it only matters if we get it done. we are a lot closer to having a real trade deal. david: we are welcoming now shawn golhar, head of public policy research at barclays. good to have you. is he right, are we closer to a deal? shawn: we put out a note on this yesterday. i think what we will see is a short-term deal, how do we lower the deficit, maybe lower some taxes, but maybe the thornier issues on ip theft, i think that will remain elusive. david: take the first one. they get a short deal deal -- short-term deal on trade, how much of the deficit could that take care of? shawn: i know there has been talk about a buying spree from beijing that could eliminate it over six years. our team is skeptical of that. it would cause a lot of ot

. ♪ i'm mark crumpton.resident trump says there is a good chance he will declare a national emergency on the southern order. he told reporters to wait until the state of the union address next week. he again called a congressional conference committee a waste of time. the committee is trying to agree to legislation to avoid another government shutdown. the president is pulling the u.s. out of a nuclear missile treaty with russia that was signed more than 30 years ago. missiles with a range of up to 3400 miles. officials say moscow has been violating the treaty for years. russia denies that. senator cory booker is the latest democrat to throw his hat into the ring for the white house. he announced he is running for president in 2020 saying the nation needs to see leaders and feel pride not shame. former mayor of newark, new jersey. the u.k. is beginning to lay the groundwork for a potential delay and brexit. they have canceled a planned recess next month so lawmakers can make progress on key business. theres

. ♪ mark: i'm mark crumpton.ess plans to vote today on a spending bill to avoid another government shutdown. president trump signals he will probably accept the plan, but he hasn't committed to signing it. the plan provides $1.3 billion for new border fencing, far short of the $5.7 billion the president had demanded. the president has until midnight friday to avoid another government shutdown. mccabe says he had good reason to start obstruction of justice and counterintelligence investigations involving president trump's ties to russia. he took the action following a conversation with the president in may of 2017. it was just hours after his boss, james comey, had been fired. >> i was very concerned that i was able to put the pressure case on absolutely solid ground in an indelible fashion that were i removed quickly or fired, that the case could not be closed or vanish in the night without a trace. mark:

. ♪ mark: i'm mark crumpton with bloomberg's first word news.ts introduced the resolution to block the national emergency declaration of president trump issued to fund his long-sought wall along the u.s.-mexico border. nancy pelosi said the house vote will happen on tuesday very president trump left little doubt about the measure's fate when it reaches his desk. >> on the wall? will i veto it? 100%. i don't think it survives a veto. we have too many smart people that want border security. i will veto it, yes. mark: the democratic control of the house is sure to pass the measure. the republican-controlled senate may adopt it as well, despite the president opposition. venezuelan soldiers have killed two members of an indigenous community who are trying to stop a convoy blocking humanitarian aid from crossing the border with brazil. nicolas maduro's soldiers opened fired after members of the nearby community stopped anti-right troops and their vehicles this morning as they are tried to assert control over a remote area southeast of caracas. a unite

crumpton with bloomberg first word news.dent trump says he will declare a national emergency on the southern border in a bid to unlock more money to build it propose border wall. the president's announcement comes one day after he agreed to sign legislation providing about $1.4 billion for the controversial wall. the president told reporters today the action he is taking is in keeping with his campaign slogan, make america great again. >> if you are going to have drugs pouring across the border, you are going to have human traffickers form across the border in areas where we have no protection, in areas where we --'t have a barrier, then very hard to make america great again. mark: the president said he expects to be sued but also expects the supreme court to eventually rule on the matter. he added "happily will win, i think." in a joint statement, nancy pelosi and chuck schumer called the president house move "an unlawful declaration over a crisis that does not exist." they added the declarat

i'm mark crumpton. this is bloomberg. shery: live from bloomberg world headquarters in new york, i'm shery ahn. amanda: live in toronto, i'm amanda lang. welcome to "bloomberg markets." here are the top stories that we are following from around the world. president trump makes another call for a border wall with one shutdown and the start of possibly another. investors weigh a mixed bag of corporate earnings against persistent u.s. china trade concerns. and the jumping for junk. u.s. high-yield bonds are at an all-time high after a six-day rally that followed a sharply dovish turn by the fed. quick look at the major averages. , positive action for the most part but it is not exactly a barnburner of a session. s&p and nasdaq turning briefly negative, off the highs of the session. we are seeing the pharmaceutical index at the bottom of your screen, one group helped to propel the market higher, but i think we are reverting to a focus on earnings. a mixed bag among the groups trading week today as the communication subgroup o

i'm mark crumpton. this is bloomberg. david? david: thank you so much.ing news coming across as a headline on the bloomberg. uber is said to be in advanced talks to buy kareem, a middle ridingfrica shared organization. they are in talks to buy them for $3 million. now to health care, one of the most important issues faced by every american, but there is little agreement on what to do about it. now we welcome the congresswoman, a democrat representing washington's seventh congressional district, the first indian-american woman to be elected to congress. thank you so much for being with us. >> it is great to be with you. david: you have a bill and 100 cosponsors. tell us what you think are the high points of the plan. >> we have 107 cosponsors, really record number of original cosponsors on the bill, and it is a detailed proposal for how to ensure every american gets quality health care. and fundamentally, what we are saying is the marketplace for health care is broken right now. as you know and viewers note, health care costs -- know, health care costs ar