daimler is down. will voice is down.armakers going to take a big hit if the terrorists come on? comer they export $10 billion with a product each year. -- worth of product each year. rupert: i cannot comment on individual companies. i don't follow them closely enough. the big automakers are heavily diversified across regions. of course, they make a lot of cars in america. it remains to be seen what president trump will do. guy: matt has got a busy week this week. he will be covering two of the subjects we are talking about here. he's going to geneva to do the geneva motor show to get their take on what is happening with diesel and the trump tweets on trade. and then, he's going to the ecb. those two forces seem to be the two forces that are shaping europe this week. the italian election is interesting, but it will be much more interesting is the ecb was not sitting there going we are going really dovish right now, and to be honest, we probably unlikely to be exiting from stimulus anytime soon. thatresult of which, carrie

sticking with cars, daimler and bmw are teaming up.hey said today they will merge their offerings in card sharing -- car sharing, and ride hailing apps. under one roof, the old guard hope today got a new breed of tech said he competitors. reporter: daimler and bmw are fierce competitors. and they are going to remain so. but when it comes to car sharing divisions, they have become collaborators. card to go and drive now are set to merge, creating a combined base of 4 million drivers. the joint fleet will have around 20,000 cars in 30 cities across europe and north america and one city in china. cars to go have been operating in eight countries whi drive now has been in nine. they say the aim is to expand mobility services in electric transport, working closely with urban authorities. it is also a way for staving off competition from ability mavericks like uber. daniel: it looks beautiful but it is too popular. thai authorities have ordered the temporary closure of a beach. it is best known from leonardo dicaprio's movie "the beach" has

we have seen them purchase a stake in daimler. lots of movement out there. caree these big global brands come together as they try to bulk up. one thing is clear, they will have to spend a lot going forward, spending a lot to go into the ev, the autonomous and car sharing future. in order to do that, they need a critical mass. to be just a local and regional player won't cut it anymore going forward. if and when this happens, will carlos ghosn remain number one? >> that would very much remains plan. this alliance has been around since the end of the 90's. it's a very successful, long-running alliance. whenever nissan performed well, alt,lped to prop up for an and vice versa. he has done well at that. he just had his contract extended. he has said that he wants to solidify the alliance and oversee that. this might be his swan song. he probably has a couple of more years to go, but he wants to make sure that whatever he leaves behind he has overseen the transition and can put the pieces together in a more logical order. out of the big global automakers, what's

but many german firms, like daimler, bmw and vw, already build many of their vehicles at plants withines. in fact, germany's car body, the vda, said their factories in the us made 804,000 units last year — way more than the 494,000 exported from germany. let's get more on this story with ana nicholls, she's the managing editor of industry briefing, at the economist intelligence unit who joins me via webcam from india. just give us your take on this. when we look at the hard fact and tariffs on us cars coming into europe and vice—versa, it looks like the eu is playing a tough line. it does indeed, and infact playing a tough line. it does indeed, and in fact donald trump is often complaining he is not so much the tariffs that are the problem, but the nontariff barriers getting into the eu market was in several areas, the vessel —— specifications they ask for vehicles are higher. it is quite difficult for cars to get into the european market industry. it is complicated as well. as you say, it is notjust about finished product arriving in europe. and also, as many german car makers have ma

you can see fiat, chrysler, and daimler both down here. you can see airbus down here.dy related to the steel industry is having a difficult time, and you can see also that we have a drop in some of the banks. hsbc, right up, there at the top. deutsche bank analysts putting out a note cutting european banks. take a look at the winners here as far as the stoxx 600, who is adding points to the index. anheuser-busch right up there at the top. british american tobacco, as well. these are consumer staples. things you can't live without. beer and cigarettes are up there. that is really a defensive move. see some ofting to these defensive stocks rising, some of the only gainers on the day are defensive stocks and at randgold resources there, as well. dax has just open and trading down 1.1%. we have hinted at the reasons why that is the case. that is the board of the major markets. we are seeing weakness. if you have industrial elements seeing the we are ftse is trading down .9%, pretty much in line with the rest of europe. let's get straight to our guest for the morning, patri

demonstration basis we are by we just wanted to create awareness about improve could serve so we did daimler's across the country so that's other schools within those regions kind benchmark. but the school has already taken out a loan for song of panels to provide light in the bathrooms. there's also a light bulb hanging in the classroom now the result of an initiative from the school parents and community. is. actually actually the government does nor heart so far we are struggling with alone is. to put up with buildings like this one because we can't teach their children when they are outside so what we do we go to banks to get loans and put up classes so that children ugandan children are able to access quality education like mariam angry ngo the young woman who thanks to her good education as an electrician was able to install one solar panel on the roof of her family home her family of twelve hopes there are more to come. for thirteen years now the washington based ngo fund for peace has published a fragile state that measures social political and economic stability in states around the w

maybe for porsche so venture into flying vehicles but it's likely feeling the pressure as rivals, daimler, volvo and vw are already dipping their toes into that water. marcus and kris, back over to you. >> thank you, landon. i would say part of the joy of a porsche would be driving it, not being driven in it, right? wouldn't you rather drive it. >> exactly. >> it's a porsche, though. >> either way i'd take the for that. >> i'm with you. >>> new this morning it turns out only about a quarter of employees attribute the bump in their paycheck to the new tax law. that is according to a new study by bank rate.com. the new tax law revisions allows for employers -- allowed for employers to withhold less money from their employees paychecks and most often that results in higher take-home pay for workers, but only 24% of aware of the changes and out of the workers who did notice a change in their take-home pay, baby boomers and gen xers are more likely to say it is because of the new tax law, half of millennials credit that law. we don't know what they credit instead. >>> if you didn't get enough

but many german firms — like daimler, bmw and vw — already build many of their vehicles at plants withint, germany's car body, the vda, said their factories in the us made 804,000 units last year — way more than the 494,000 exported from germany. quite interesting when you look at the facts. 0ver quite interesting when you look at the facts. over to you, ben. andrew walker is with me now. he is our economic correspondent. you start getting into tit—for—tat, you impose this, we will impose this. when we talk about tariffs, though, people will say it is bad for business? of course, it makes it more expensive for people buying the stuff that is imported and means a lower pre—term for the exporter in the foreign country. the real economic burden does not depend on where you collected from, it is divided between buyer and seller in that way. there is no question that ultimately if you were to see a sufficiently large escalation in tariffs, you could see quite significant macro economic damage done around the world. we are not there yet, but clearly the worries about that are in play at the mo

we, bmw, have a massive footprint there and we are pushing into the market, as is daimler.y will have to work together on this legally to figure out how they can overcome the tariffs. it is a risk to them because the u.s. is such a huge market and they do export some cars into the u.s. market and they cannot manufacture everything over there. so, that question will come up and they have just come out of the mess with diesel. they do not want to fall into a new mess. matt: there already are some uneven tariffs. when the u.s. wants to sell cars over here, they get a 10% tariff slapped on them by the eu. going the other direction, it is only 2.5%. as a result, you see very few american cars -- there are no f-150's driving around the streets of berlin. how will that be resolved? >> well, i do not know if people ut themore f-150's withotu tariffs. ofhink it is more the kind cars people drive over here. that is something that they will have to resolve. people might argue, has donald trump got it all figured out over here. there are some uneven trade balances they have got to figu

some of gm's competitors, daimler, is invested in turo. another invested in getaround.ctually experimenting with it. emily: bloomberg's detroit bureau chief, david welch as , always, thank you for joining us. that does it for this edition "bloomberg technology." we are live streaming on twitter. that is all for now. this is bloomberg. ♪ >> the following is a paid advertisement for the the traeger renegade elite. it is the most versatile grill you could ever own. you can grow, smoke, buries, roast, barbecue all on

porsche's rivals including daimler and vw have been vesting in flying cars that looks like the regulara porsche and a flying car those two week >> ideal >> and the jet ski maybe too >>> let's get back to the markets. futures are essentially flat down 3% for the nasdaq last week 3% for the dow, 1% down for the nasdaq and we're flat essentially in the premarket at this hour joining us chad morganlander have the tariffs been priced in as a forefront for most indices with a rise in stocks? >> for the time being. this is going to be a slow-moving train. and we're going to have to see where negotiations go. you can see where this could accelerate quite rapidly, in particular in china, as well as our allies in the european union, on the auto side. but overall, from s&p earning and the u.s. economy for the time being, is this not going to affect it but we have to be, of course, cautious of it >> but there definitely seems a divide between the steelworkers here in the united states but also at the same time, the steel buyers who will have to deal with steel and aluminum as well. >> so, on our c

. >> i think we would point to the gille stake in daimler came out of the blue to the investment community and the company. i think you're right that chinese investors and manufacturers are looking for investment opportunity and ways in which to gain more influence on the traditional auto businessmebusiness me and by having a larger structure, that gives them greater defensive qualities in this respect at least to the extent it makes it more expensive were a chinese operator looking to take a stake in the country >> george, i will ask you random questions about the auto industry tesla. a horrible couple of days. is there a problem that goes to the top and needs addressing >> for tesla clearly the stock has suffered on two pieces of news in the last three days. one was nvidia suspending the self-driving program, and they're a large partner with tesla on autonomous driving, and secondly with regards to another fatal crash involving a tesla in california i think for investors, the most important point is going to be next week on either monday or tuesday when we expect the company to release i

>> well, volkswagen, daimler and bmw all build vehicles at u.s. plants. the u.s. accounts for 15% of worldwide mercedes-benz and bmw sales. the u.s. currently has $22 billion vehicle and auto parts trade deficit with germany. >> and a $7 billion deficit with the united kingdom last year. all right let's talk about all of this with scott lucas. a professor of international politics at the university of birmingham in england. scott, it's good to have you with us. let's talk about first the news we're hearing from the president among jokes at a dinner in washington, d.c. stating some information that is certainly no laughing matter, rather quite sensitive information about north korea, saying that they called a couple of days ago, saying that he would love to talk, but they'd have to de-nuke. what do you make of this news that the president is saying that they called. his response, and the setting where it was made. >> well, we know that donald trump can play fast and loose with reality. especially when he's sort of speaking off the cuff to journalists, as he was las

you have bmw, daimler, and volkswagen to look at, because trump is calling them out by name, as far ashat can fall victim to tariffs. deutsche bank will have the ipo of its asset management unit. it will fire 6000 bankers. it is going to cut bonuses again for top executives. we will discuss that all at the open in four minutes. this is bloomberg. ♪ guy: the euro-dollar bid this morning was trading 1.3338. school scandal, the applications of how far that could go. watch the end. this could be a mover over the next few days, the yen. that is what the nikkei is doing, up by 1.65%. $65.35 right now. the opec story is in focu s now. blocks jobsl the report -- it was a goldilocks jobs report. let's look at the fair values in toope, because they want talk about how well the dax is scheduled to do this morning, up by 1%. watch the energy sector. that will be the utility sector and that will be fascinating. .6% to 0.8%d up this morning. performeduld under this morning. london is only expected to be up 0.3% to 0.4%. to 0.7%. up by 0.6% the dax, i believe for. nothing much is happening. it takes

daimler and bmw are merging care -- car sharing.joint venture and offer ride-hailing services. 2018 forecastir following the deal. jpmorgan's new hires and asia have more narrow science and psychology degrees than ever. 39% of college grads have nonbusiness backgrounds, the highest in three years. the merging of finance and , requiring a broader educational background. that is your business update. scarlet: a sports and mins lifestyle blog known for its distinctive voice. at the helm, a woman who beat out men to win the job. >> from sports to news to lifestyle, one of the biggest podcast networks. we have 700 social accounts. we are a lot form for 18 to 34 year old. butt is contest centered you are thinking of expanding that further. talk about that as a retail brand. >> one of the most important things is our audience. barstow was created by a --tleman named dave and 20 2004. they buy what we say to buy. when you have an audience that is that loyal, they create a live event business. we can create a pay-per-view business. we are bu

bmw was down and daimler and as for where we are going next, the important thing is we saw on friday real rally in the markets after the european market closed. a lot of people are wondering why we had a big rally, there were heavy selling out of the europe we saw heavy selling in the european etfs as well and i will show you that. as for what's i am pampacting t week is the tariffs news we'll have the central bank meeting, kuroda from the bank of japan were sounding hawkish this week we'll see if we can get clarification for that that started this whole mess the last month's jobs and wage report, s&p 500 dropped 50 points of that february 2nd, that started the whole thing we'll see if that's a trend right now. you want to see hereis the 10-yr. the important thing is the 10-yr in the last month, we moved up dramatically after the jobs the report and we almost hit 3% and the third week of february, it sort of stopped. we have all these tariff concerns overall but a number of things happening banks were rallying if you looked at kbe have herbalessent stopped going up there is no rally

bridgewater and ray dalio raise their sure bets, and deutsche bank, which we talked about earlier, daimlere, davide, is the number of major companies that mr. dalio and bridgewater do not believe in. onant you to comment shorting surgically versus making a global macro short of europe. those are really two different things, aren't they? davide: um, yes and no, and the reason is because bridgewater key strategies, so basically they structurally are long bonds and short equities. now, at a time where it is obvious that interest rates are on a path of going up, it is not clear whether this strategy will hold, and i think they are using futures to be dangerous -- because that is what everybody does. given their side, moving 160 billion assets, leveraged two to three times, that means they have a rich capital 40 $500 billion, they -- $40 billion to $50 billion, they have machine trading that has lost an impact. i think they decided to take a european bet. if that will pay off or not, time will tell. surely the european economy in 2018 will keep on doing well as it did in 2017. davide, what but

a hazing-related death last year they allowed alcohol and hazing related charges to stand bmw and daimler teamed together to share services in car electric charging to compete with uber. each hold a 50% stake in the joint venture. beijing choking on dust and pollution. a sand storm blew into the capital, triggering alert as the city's air quality index soared to hazardous levels. you are up to date that's the nudews this hour, ba to you >> man, grateful we don't have to breathe that in thank you very much. >>> over to bob pisani on the floor with the dow turning positive what do you think of it? >> stabilized because tech stocks by and large have stabilized emphasized this all week tech is 25% of the s&p 500 look at the chart herement financials are 15. 40% of the s&p, and when they don't move or drop, the overall market drops rest of the sectors, health care investors, and staples are the key groups here. that's where you rotate into if they are not doing anything, forget it, overall market goes down we have market movers, things that are holding up in the dow jones industrial average ba

daimler has a plant opening later this year. bmw has one opening next year.ere's the chairman and ceo of audi talking about what kind of thought goes into potentially moving more production over here >> we in the industry got this message some hours ago of course, we first of all, are listening. i'm a big friend of open and free trade markets of course, we will have to check whatever will be decided >> they're not going to move production any time soon but increasingly mexico is the place not just europeans but all auto manufacturers have been producing cars and trucks. look at the growth since 2009 in terms of auto production of course, much of that ends up here in the united states. as you take a look at shares of volkswagen, we should point out cnbc had a chance to talk with the ceo of volkswagen. he said he's calmly assessing the situation before they make any comments about what they might do with production what's the story when it comes to the steel manufacturers let's go to canton, ohio, where leslie picker is at the timkin facility >> reporter: that'

we were saying is coming like daimler and bmw getting into bed with one another.he one who owned all of the dealership networks and sold all of the cars and the other one produced all of the new, exciting electric vehicles. so that is kind of come in a basic way, what we have happening here. francine: what does that mean? it almost seems to suggest they want teach figure out one of the problems, right? doesn't mean it will change the face of how the utility sector is in the rest of europe as well? well, first and foremost, it is when a change the face of the utility sector here in germany because of all of these swaps in their assets. it is something that regulators are going to have a look at very closely as well. we're working on a piece that looks at, to the degree that brussels is likely to get involved here and also the german regulators as well. it is really still difficult to see how this is actually going to play out and it is a real reversal from what these two companies were just saying a couple of years ago when they both were spinning off assets. of co