trump nominates david malpass as treasury undersecretary for international affairs.med, his first job when be to guide currency policy. he would bring extensive government experience to a team that has little public service background. he previously served as deputy assistant secretary in the treasury and state departments. a special prosecutor questioning jay y. lee under allegations of bribery and embezzlement. the de facto head of the samsung group was called in for questioning this morning along with two other executives, including samsung electronics president. the move potentially deals another blow to south korea's against a business empire. iron ore will defy forecast for a price collapse as china's economy remains strong and boosts demand for higher quality imports. that is according to christopher lynch speaking to bloomberg daybreak australia. it is thatthink dramatic. the key at the moment, the consensus prices below the spot price, that is obvious. that is unusual, but that can cut from two directions as well, so i would not since going to fall off a cli

nobody says fast and writes about fast like david malpass. word he will give the president is let's move fast. they may, they may not. malpass is the fast economist. francine: at the same time he would bring extensive government experience to an economic team that has little background in public services. deputy assistant secretary in -- state department during george w. bush. tom: the legislative process running for senate ridley in the state of new york. right now i want to get through this quick. we will get to the bloombergs. i got nothing. francine: you want to talk politics. i don't have much either. significant that people are shying away from bonds on the equities. european stocks. i wanted to show you a little bit of movement on chinese currency. gold, 1200 30. tom: let's look at inflation back here in 2014 as a collapse in oil, the rapid move down in disinflation. .he outright deflation italy, germany and the united states. abrupt movement in german inflation. at the last moment in our 5:00 hour i put in here that guesstimate of whe

president trump planning to nominate david malpass us treasury undersecretary.is first job would be to guide currency policy. he would bring extensive government experience to a team that has little public service background. he previously a service deputy secretary in the treasury and state departments. songs era parent will speak earnestly with prosecutors after being summoned again over allegations of bribery and investment. the court rejected prosecutors request to issue an arrest warrant for jay y. lee, but they did point to a lack of evidence. other senior samsung executives are expected to face questioning. troubled air back maker takata surging, saying it will probably make its biggest loss since it , saying it would book a 900 $46 million in charges after it admitted to hiding risks with its airbags. well, news each day every day around the clock. we have the world of business covered. yousef: thanks. ministerion finance sees inflation after prices jumped 28% in january. he told us he expects them to peak by the end of the first quarter. >> we knew this

trump plansesident to nominate former bear stearns asnomist david malpass treasury undersecretary fornternational affairs. if confirmed by the senate, his first job would be to guide currency policy. he would bring extensive government experience to a team that has little public service background. he previously served as a deputy assistant secretary in the treasury and state departments. a special prosecutor is again questioning allegations including bribery and embezzlement. lee was the vice chairman of samsung electronics. he reported for questioning this morning, along with other executives including the samsung electronics president. the move potentially deals yet another blow to south korea's biggest business empire. that is your bloomberg business flash. guys, matt. matt: thanks very much. the ore prices surged to highest level since 2014, extending last week's rally. bloomberg daybreak: asia's trivia spoke to the rio tinto ceo this morning, and he said he does not think the iron ore price will fall off a cliff. it is that think dramatic. at the moment, you can see the consensu

there will be a big focus on the undersecretary for international affairs whether it is david malpasswhen he has to say about the dollar, typically it is his group that drives policy. the market may shift to that story. as we move to the first couple weeks of march guy: it has been great speaking to you. thank you for speaking to us. nestle sees profitability below its long-term target. carolyn cohn and spoke to the new boss of this business about these difficult results. what did he have to say question mark let's find out. organic [inaudible] was a bit below expectations. especially in the second half. what we did see 5 -- fairly widespread is a reduction in the second half. that was the general trend of the industry not just specific to us. pricing did not quick in -- kick in as fast as we hoped. for 2017 it is a balanced view. there is some hope that pricing will be more favorable. we're facing a lot of macro uncertainty. to 4% of organic growth guidance, that is what we have seen for the last three quarters. i think that gives us caution on both sides. generally in this somewhat

donovan is a fantastic individual will bring a lot of skill ability talent integrity intelligence, david malpassist takes complex issues boil them down so you get to your hands around very good laying out options two about about terrifically choiksz eerily signs mnuchin is going to be a greet secretary, the rest of the -- he the what we are facing in washington sort of getting mixed up with some of what is going on in congress, in some of the sort of pr stuff that the administration is having to handle. >> looks like a good meeting with abe looking at pictures. >> yeah abe was terrific the deal i learned at white house that i did not expect to be the case personal relationship between the president of the united states, and -- and he foreign leaders particularly our allies, that he personal relationship matters far more than you would have thought you wouldn't think i am leader of america i am leader of japan, we have interests there in common we have interests in -- mute clash we look at this very sort of policy driven way, that happens. but the personal relationship matters that is why, about

we saw david malpass is going to the administration. he has to craft a policy agenda filling out the lower level staff positions. eli miller is someone that was close to him during the campaign comes from senator marco rubio's political orbit gum has been tapped to be the chief of staff. a lot of job positions that are underway. steve mnuchin is officially in. where capitol hill is mike mckee is covering jenny yellen's testimony. what are we expecting her to say? mike: that is the key. it is the ongoing soap opera at 1600 pennsylvania avenue. the opportunity to talk to wall street and to members of congress about monetary policy without being sucked into the political maelstrom about what bankns next to the fed and regulations. we have a new chairman taking over his first hearing with the fed. lookingto see if he is for her to tell more about monetary policy and how they make policy going forward, or if he will focus on regulatory aspects, dodd-frank aspects. for the administration to make policy and fill jobs is the same. we do not hav

president trump plans to asinate david malpass treasury undersecretary for international affairs.enate, his first job with to be guide currency policy. brings extensive government expense to a team that has little bit service background. previously served as deputy assistant secretary in the treasury and state departments. the speaker of britain's house of commons is under growing pressure to quit after disclosing he voted last year for the u.k. to remain in the eu. is position means he supposed to remain impartial good one conservative lawmaker said a motion -- submitted a motion of no-confidence. last week, he said he would veto any plan for president trump to speak in the parliament when he visits the u.k. this year. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. rishaad: right, still to come this hour, the world's second-biggest exporter of iron ore says surging prices will not fall off a cliff despite some forecast. rio tinto's outlook from chris lynch later this hour. next, the pulse of the japanes

when you take them together and throw people like david malpass into the mix, this is a team that isop with help -- what president trump would hope. are alreadyhe left trying to portray them as nothing more than big business, ,ig banks, more of the same trying to hurt small businesses. scarlet: thank you for framing that. our chief washington correspondent. oliver: breaking news. popeyes, the owner of the restaurant chain, shares are popping after trading was briefly halted. no real clear reason for the jump at the moment. the consumer discretionary index is far and changed compared with that. we will be watching that. popeyes up about 10%. this is bloomberg. ♪ all of her bloomberg markets. scarlet: times for options insight. is a: joining me today member of mkm holdings. we have been talking about waiting for the volatility to come back. you said people are sort of gaming out various scenarios or instances where it might come back. guest: yeah, that is a lot of the conversation on the street. u.s. equity volatility seemingly on its deathbed, but we know that will not last forever. t