i'm david westin.ent shutdown is now in its 34 today, and it has already put off one government function, the state of the union address. it will not put off chinese premier's visit to washington for trade negotiations next week. something the world is waiting for. as we look toward this negotiation -- these negotiations, we welcome from washington to bloomberg television and radio, secretary of commerce wilbur ross. thank you so much for being with us. sec. ross: thank you for having me on. david: let's start with the government shutdown. isare all aware there 800,000 employees more or less who have been going without pay for over one month. over 40,000 of those employees by my reckoning are your employees at the department of congress. do you have a sense of the imposition this is placing on -- the difficulties they have? you are quoted as them borrowing money -- borrowing money. sec. ross: first of all, there are people experiencing hardships. we had a lengthy session with some of the large portion

i am david westin.will turn to mark crumpton for first word news. ramy: the state department -- department warns americans against traveling to china, saying china uses " arbitrary enforcement of local laws." the state department also warns china could use so-called exit bans and does not recognize dual nationality. it updates a previous advisory after two canadian citizens were detained in the country. than three weeks without hearing. the 160 congress has opened its session. nancy pelosi is preparing to become speaker of the house again. she tells nbc news that president trump cannot persuade her to help fund his wall on the mexican border area the president met with congressional leaders yesterday and wants tomorrow.eting pelosi says the partial government shutdown, caused by the demand for the wall, has nothing to do with democrats. we will take a closer look at the new congress in a few minutes with the president of the good friend group and former deputy staff secretary to president bill clinton.

i am david westin.turn now to mark crumpton for bloomberg first word news. mark: larry kudlow calling today's jobs report a blowout. a much morehows optimistic picture of the economy after a recent decline in the stock market. sides also says "both want the president and federal reserve chairman jerome powell to meet over the interest-rate increases." we will see more of him as the heritage foundation in just a few moments. china is criticizing a travel advisingfrom america americans to use "increased caution" when traveling china. they say it "cannot stand up to scrutiny." 2.3 million americans visited china between january and december of 2016, which is far more of the number of chinese who visited the u.s. french president emmanuel macron is trying to keep reforming the country as government -- antigovernment protesters plan a new round of demonstrations. the president has proposed changes to france's national unemployment and the pension system. yellow vests protesters plan new demonstrations and sa

i am david westin. stock of the hour is pg&e. in the charter is here to tell us about it. you do not want to have a wildfire and be responsible for it. emma chandra is here to tell us about it. 20%: falling more than after reports they may be weighing the bankruptcy after the wildfires last november. this is according to people familiar with the matter. pg&e have not confirmed anything today. it is thought the possibility of bankruptcy may be enough to force state legislators to bail them out. pg&e is california's largest utility. it is still unclear whether pg&e caused the fire. we have seen the shares plunge since november. david: there is a lot california that says it does not matter if you are responsible or not, you still have to pay for it. the last time, the state issued bonds to bail them out. emma: the hope is they might do that again. there are a number of lawmakers in california who have said that will not happen. some say they cannot let the company go bankrupt. the stock was trading around

i am david westin. let's keep the focus on district of columbia.ent partial shutdown with no end in sight. president trump is set to meet with a bipartisan group of lawmakers in an attempt to break the impasse. we are joined by kevin cirilli, chief washington correspondent. what have you done down there, kevin? remarkableas been a morning. president trump has met with a bipartisan group of lawmakers including three members of the problem solvers caucus. that meeting currently underway. according to an aide who told our reporters that. notablee, it has been to note that speaker policy says she wants to have the house in session next week at -- as does mitch mcconnell. these negotiations continue. the president already ordering 43,000 federal employees to go back to work, including members of the irs, faa, and fda. they will not be paid in terms of right now, but they will get their money once the government finally does reopen. a lot of pressure mounting on president trump as the shutdown drags on. particularly as we are just now under two weeks awa

i'm david westin.ow mark crumpton has first word news. mark: a new government report says the yuan's budget deficit is set to hit $897 billion this year. the congressional budget office report also protects economic growth will slow as the effects of president trump's tax cut on business investments begins to drop off. the cbo says in the partial government shutdown, we have had a modest impact on the economy. and the president says he does not believe congressional negotiators will reach an agreement on border security by the february 15 deadline. the president told the wall street journal there is less in a 50-50 chance of a deal, but he promised ability border wall anyway, even if he has to use emergency powers. the president also threatened to shut down the government again. we will take a closer look at this story in a few moments with our political roundtable. food retailers in the u k warning of higher prices for food, as well is a shortages, if britain leaves the european union without a deal.

i'm david westin.ark: president trump says he will meet with xi jinping in the near future to discuss trade. he says there will not be a trade deal until the two of them discuss more difficult points. high-level trade talks between the two countries resumed today in washington and so far there has been little indication that china will give into u.s. demands. the european union has targeted ananks in an -- 8 banks in investigation of collusion. they did not name the banks, they are suspected of trading euro government bonds. last week, the eu with after other banks in sovereign bond trading. afghan security forces are shrinking and gaps in security are growing. in a report today in congress, a also said that the taliban are largely holding their own, despite a surge in american bombings. in new jersey, a fire broke out in a parking garage at one of newark airport's busiest terminals. more than a dozen cars were damaged. the fireside to smoke spewing into the air. the cause is under investigation, no fl

headquarters i am david westin. welcome the balance of business. on day 18 of the government shutdown. a brexit vote and in washington sarah mcgregor on u.s. china trade talks. let's start on capitol hill. a big address by the presidents from the oval office tonight. what is he going to say? >> we are expecting to hear from the president at 9:00 p.m.. he will address the border crisis and he will talk about his view of it. he has been an fatah clay hammock ring -- emphatically hammering on this issue everything from the jobs lost to the opioid epidemic. he has been challenged by critics as to whether the portrayal is accurate. this is his solution for the problem, the wall, a symbol of everything he has been talking about. it was central to his campaign. we are deep into the government shutdown and just days away from breaking a record of the longest government shutdown and he is dug in on the wall. unless he declares a national emergency declaration and decides he can build the wall unilaterally. controversial and invite legal challenges. david: p

david: from bloomberg world headquarters in new york, i'm david westin. welcome to "balance of power." the world of politics meets the world of business. on today, the never-ending shutdown. emma ross thomas from london on the fifth start of brexit from wrong -- rome, the struggling italian economy. let's start with capitol hill. it seems to be never-ending and both sides seem to have their hands in dismay. >> there are two developments we are watching today. one is the house democrats voting on their individual appropriation bills that they are passing easily. we do not expect the senate to take up. the other thing where watching as this exercise in the executive branch running around the legislative ranch to figure out where they can get money that has not been appropriated for this purpose to build the border wall. they are looking at military construction, army corps of engineers, to figure out where they can fit together the funds the president needs. david: i'm glad you raise that. they are looking at the army corps of engineers. do they have a spar

headquarters, i'm david westin. welcome to "balance of power." on the brief today, emma ross thomas on theresa may's next steps for brexit. and it is a 27 of the government shutdown. and from capitol hill, kevin cirilli on the robert mueller investigation. emma, first day of the rest of her life today for theresa may, so what is next on her agenda? talksthe moment she is in with opposition parties about the way ford for brexit -- ford for brexit, with a jeremy corbyn boycotting the talks. but the precondition she takes the deal off the table before he says down with her. some members of the party have been in talk with theresa may, but not many signs yet that may is prepared to make big concessions. what that means is as we go into monday and she goes to parliament with plan b, what we will see most likely is members of parliament who want a softer brexit and who want to maintain closer ties to the block, try to force the government to change its cap and pursue closer ties, or indeed a second referendum. we have heard more on the second referendu

i'm david westin.loomberg first word news, we go to mark crumpton. trump andident congressional leaders will try again today to reach a deal to end the partial government shutdown. we are meeting at the white house a day after the president demanded a wall on the mexican forer, as the price reopening closed agencies. democrats have not moved from their position. they want to shut down -- they want to shutdown ended, then they will just cast border security. the united states and china have wrapped up talks on what appears to be an optimistic note. bloomberg has learned the country's positions were closer on areas including agriculture and energy. negotiators where hard to impart on farther issues. the talks were extended by a day which shows both sides are serious. pompeory of state mike made an unannounced trip to baghdad today. he met with the country's prime minister, foreign minister, and president who told him iraq needs u.s. support in the fight against islamic state. secretary pompeo's visit fol

david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief, michael mckee on the continued slowing of the chinese economy. and from washington, vice president pence's message to venezuela. we were anticipating number that of china and has confirmed what we expected. michael: markets reacting to the slowing in the chinese economy. china reported growth fell in the fourth quarter to 6.4%, that is the weakest since 2009. there were concerns expressed to the parties leaders. capital economics says that the slower growth could it shave two percentage points off of global growth this year and according to citigroup, the chinese slowdown may slow global expansion off course. it will be slower than anticipated, 3.5%, down from 3.7%, that forecast in october. david: gdp numbers are disappointing, but what about the services sector? michael: we got a little bit of good news in the data releases, the numbers on retail sales and industrial production came

i'm david westin.ith her now to kailey leinz -- we turn out a kailey leinz for first word news. roger stone has entered a plea of not guilty to charges of lying to congress and abstract in the pressure probe. he entered the plea in a federal courthouse in washington. the republican operative had blasted robert mueller's case against him as politically motivated. and jeff flake will not be running against president trump next year. he told cbs news he hopes a republican will challenge the president in the primaries, but it will not be him. flake has been the most vocal republican critic of president trump. and the top u.s. intelligence official casting doubt on president trump's goal of a nuclear disarmed to north korea. the director of national intelligence testified before the senate intelligence committee today. >> we currently assess that north korea will seek to retain its capabilities and is unlikely to completely give up its nuclear weapons and production capabilities, because it's a leaders ulti

david westin is live today back home in detroit at the north american auto trad show. david: it is always fun to see new cars. exciting new cars. it is about the economy, about the consumer, about growth in china. underlying all of it is the need for the car companies for a lot of money invested in autonomous vehicles and electric vehicles. jason: it feels like it has been a few years since detroit has been thinking about washington this much you on thinking back to the days of the car ceos having to go to capitol hill and testify. it seems a little more complicated these days. iffs and regulations and pure politics. david: you talk to car ceos, they say the same things you said. they said they used to mak be worried about making cars. now they spend time wondering about what is going on in washington, beijing, what the fed is doing, what the consumer sentiment is. a lot more complicated. jason: excellent. you will have much more coming up, including an interview with roger penske later this hour. also will check in with debbie dingell. d.c.s turn now to still no end in

let's go to david westin. david: thank you so much.e are joined by kevin johnson, president and ceo of starbucks. it is good to have you, mr. johnson. kevin: good morning, david. thank you. david: the earnings came out after the bell yesterday and they were positive across the board. on revenue and earnings per share, same-store shares, and your stock is up again today on the news. what drove it? kevin: we had a fantastic quarter. much of that has been driven by the fact that in the last year we focused on streamlining the company so we could put more focus and discipline in the strategic priorities. this last quarter, our holiday performed very well. you look at the fact we posted a --same-store sales, growth same-store sales comp growth. that's a reflection of the strength of the brand in the execution in the last quarter. david: streamlining basically goes to being more efficient, which every ceo was to accomplish. how did you manage to do that on one hand and also serve your customers and increase sales? that is the tricky part. it

i am david westin.e turn now to mark crumpton with bloomberg first word news. david, the fbi has arrested a longtime confidant of president trump as part of the special counselor's investigation. a seriestment lays out of contact between stone and campaign officials over release wiki leaks,on from a group linked to the russian government. a judge has set stone's bail at $250,000. meantime, the white house is distancing itself from stone's arrest. outside, kevin cirilli asked the sarah huckabee sanders about the president's connection to these development. sec. sanders: it does not have anything to do with the president. it does not have anything to do with the white house. one question that i would be interested to see is if the same standards apply to charges that falseeen brought or by testimony, if those same standards will be applied to people who have given false testimony in the same manner like comey, clever, and clinton. minister donahoe: president trump's tony really -- mark: president trump's

. ♪ david: this is balance of power i am david westin.e turn to mark crumpton with the bloomberg first word news. mark: a sign president maybe willing to negotiate with congress to end the partial government shutdown. he has invited leaders from both parties to a briefing on border security. the president has insisted he won't sign spending bills without money for a wall on the mexican border. on twitter the president suggested he wants to make a deal and end the stalemate. the federal employees union is suing the trump administration, claiming the government shutdown is illegally forcing more than 400,000 federal employees to work without pay. since the shutdown began last month many federal agencies have temporarily closed and delayed worker pay indefinitely. even employees deemed essential or accepted have been expected to come to work. we will take a closer look at the government shutdown without political roundtable in just a few moments. the u.k. foreign secretary believes prime minister theresa may will get the concessions needed t

i'm david westin. now first word news. mark: nancy pelosi has fired the latest shot in a feud with president trump. the president stopped of speaker from taking a military aircraft afghanistan. now nancy pelosi has found out that the administration leaked commercial travel plans. so she has canceled that trip as well. a development today in the trade were between the u.s. and china. beijing is said to have offered a path to end the trade imbalance between the two nations. bloomberg has learned that china will ramp up imports from the united states. the offer was made during talks earlier this month in china. u.s. negotiators are said to be skeptical. we will take a closer look at this story in a few minutes with isaac stone fish. and the british prime minister is calling european leaders today to try to find a compromise on brexit. cross party talks with parliament have a failed, so she is hoping to persuade eu leaders to give her a better deal that can win the support of lawmakers. the labour party le

that is david westin. coming up, the siemens ceo and why he is sticking to the company.s next. this is bloomberg. ♪ the siemens ceo joe kaeser is pushing to gain european trust approval for a planned merger. the deal is now in jeopardy. we spoke with francine lacqua at davos. manye impact of brexit is fold. i think that the biggest impact of brexit is that this, once it happens, it will never be back. this is going to be a historical decision, whether or not the u.k. is going to be part of europe or not. the other area is people come and go. then policies might be different. but if the u.k. leaves europe, i think it will be for good. i believe this is the single biggest impacts of all time in europe. reporter: it looks increasingly likely the merger with ahlstrom will fail. is that a fair assessment? >> i don't know. i don't know, but it is what it is. i am trying to be a realistic person. with theeen trying globalto create a champion for the european base. by doing that, it was not about making even more money. by doing that, this will be for the customers in the long t

ceo mary barra with david westin. more coming up.to be talking about the future of retail, next, in facebook security problems ahead. that's next. this is bloomberg. ♪ ♪ >> a series of lackluster holiday sales reports prompted the selloff and retail stocks this week, with many of them struggling to figure out how best compete in and on the channel world. for the world's biggest retailer, walmart, investors in technology is key. as part of our retail transform series, walmart's chief technology officer told emma chandra that the robots are coming, but they are still hiring human. >> i think the biggest thing we've done in the last year or two, we have a robot that scans the shelves and goes around the store to make sure that items that are in stock and are available -- oftentimes this is a human and machine combination where the robot can go down the aisle and spotted item that is out of stock on the shelf or misplaced, then assign a human to deal with it, getting stuff off the top rack. it is really that combination of man and machin

. ♪ this is "balance of power," i'm david westin. first word news, we go to mark crumpton.he brexit deal goes to parliament with defeat all but certain. it would effectively record draft a of the european union. lawmaker said it expects the prime minister to seek put her deal to further votes in the house of commons if she is defeated as expected today. the french president emmanuel macron is launching a three-month national debate encouraging people to open their grievances with changes to the country's economy rather than taking their complaints to the streets during the so-called yellow vests protests. he says he wants to help people in a difficult situation find their way out of poverty. some of his recent comments have sparked anger in the country, such as when he suggested that some french workers are lazy. gates, who works on the trump campaign and inauguration is still cooperating with robert mueller on several ongoing investigations. gates pled guilty to conspiring to defraud the united states, testifying that the prosecution against his former boss, paul manafort.

gm chairman and ceo mary barras spoke to david westin at the new york stock exchange.y: this as a result of what we have been working on since 2015, working to transform the core business and investments we are making in the eba be and connectivity. connectivity. we still have more work to do, thethat is why we have made difficult decision at the end of last year, but we are focused to make sure general motors is strong and demonstrating that even in a cyclical business, we can continue to deliver results. david: it also requires a lot of investment as you go through electric vehicle to autonomous vehicles. how you get the money to invest because earnings per share are up? mary: one of the things we did in this transformation is we are re-mixing up hope of product development. we have indicated over the next three years, we will double the av, andpent in ev and we have found a lot of synergies are not only how we engineer but from a capital perspective. we have made a lot of investments and crossovers, our global family of vehicles, so that will pay off and that is inv

david westin joints me now from the new york stock exchange. david: thanks so much.. the 21st day of the government shutdown and we welcome from washington now, senator chuck grassley, a republican for iowa and the chairman of finance committee. thank you for joining us. senator grassley: thank you, david. david: let's start with the shutdown a move to other issues. position ofn the the republican senators to really solve this thing, it doesn't appear nancy pelosi and donald trump, this begun the president, will solve it, you can't republicans in the senate fix it? we will fix it, but only as an agreement that mcconnell andand lastresident agreed to december that what good does it do for the senate to do something that the president will not sign it? so back then, chuck schumer said the agreement is, we will go with what the president will sign, so then we have had this pelosi hasnce nancy become speaker because i think chuck schumer is responding to her leadership on this, so the president over the weekend or maybe monday put a plan on the table because they demande

was the starbucks ceo speaking with david westin.y with emerging markets and talk about turkey. our exclusive interview with the finance minister and his claims for a soft landing after the currency crisis. we will show you what has been happening with the turkish lira, a very slow, gradual recovery, but far from the lows we saw around the summer of last year. the turkishole says lira is best positioned to inform, and they say they will be a top beneficiary in the global risk on scenario. plenty more ahead this is bloomberg. ♪ mberg. ♪ place, the xfinity xfi gateway. and it's strengthened by xfi pods, which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything. leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today. ♪ >> 8:30 a.m. in dubai. a live shot of the financial center, could be a big week for earnings in the u.s. and this part of the world. we are waiting to hear from saudi basic industries and in the meantime this is how brent crude fare

david westin spoke with secretary of commerce wilbur ross on the record shutdown.oss: there are people experiencing hardship it we had a lengthy session with some of the large portion of the workforce yesterday. to make sure we understand what their problems are and we are trying to do our best to mitigate them. welcomeor more, let's u.s. director, todd mariano. great to have you here in the studio. we have those votes in the senate today. the two bills. it seems to be pretty challenging. if those fail, what should we be watching out for? todd: it is good to be with you. i think the major thing we need to watch for today is whether either bill can really garner some crossover votes from either party. and more than the couple that are expected. what we have had since the weekend is a glimmer of possibility for some real negotiation to end the shutdown. if you are able to get more than two or three crossover votes on either of these bills in the senate, i think that would be confirmation that we could be seeing more than a glimmer. of course, this becomes less theore

i'm david westin, back with alix steel. alix: good to be back. david: you could have fixed brexit while you were there. they are going to have a vote later today on a couple of planments to theresa may's for brexit. the infamous backstop involving ireland, we will be watching that debate throughout the day. alix: the cable rate going nowhere this morning, but overnight volatility did pick up a lot. you will be up six or down six. it will be extreme either way. david: we will talk to alex chalk, a conservative member of parliament. alix: too much stock wherever you look, not a lot of price action anywhere. zero dollar also and changed, 10 year yield unchanged. very modest.8%, considering the u.s. has oil sanctions on venezuela. it seems like it's earnings for direction -- verizon earnings missed estimates. in stronger than estimated but revenue was light. david: the question is the guidance, what they are looking for in the next year. there's been a real warning on the guidance. beat by asu didn't much as you thought, you got killed. david: we saw

the detroit motor show is fully underway, so let's join david westin. nk you so much, guy. we are joined by bill ford, who is the chairman of the ford motor company. let's talk about the transformation going on at forward. we talked to jim hackett about it. if this is a baseball game, what inning are we in? bill: we are in the third or fourth inning. we have put the groundwork into place for our transformation is a company, in terms of auto 1.0, and a traditional business, 2.0 with the new stuff, and now we have to execute again and try new things. it is early still, but it is further along where it was a year ago. david: will you be in the ninth-inning by the end of 2019? bill: there was never a ninth-inning because the business keeps reinventing itself. there was never a finish line. we are always having to readjust on-the-fly, and just when you think you have things figured out is when you need to start worrying. david: we are hearing a possible arrange with volkswagen. i talked to jim about that. one of the things that is becoming apparent is there w

david westin is an detroit, driving cars all around. i'm kidding, what's the mood at the auto show? re, but it's a slightly different auto show, a lot of them talking about things you are talking about, how the economy and china is going. a little bit of a subdued element to the show this year thus far. david: walk me through those -- alix:

in new york,ngs david westin is in detroit talking about all things auto. car for you. we are joined by the president of toyota north america. good to have you with me. we have a super you will not show me, but explain to me about the supra and how it is going to help you accomplish what you need because you have a lot of margin pressure. jim: if you look at why you sell cars, do you sell because any volume, profitability and strategic reasons. supra as a lot for the strategic's -- strategic reasons side. this will be a fifth-generation car. talking about top management, they said we need to get more profit management in part because we have to invest in electrification and autonomy. can you do that with the product line you have? jim: i think you have to call some product back. if you look at the history of found it was not reaching our strategic goals, we reduced product. you will see that. , it wasicle like supra cut back in 2002 and we're going to bring it back in. david: are we going to have a prius of the future? think the previous stays but you will

. ♪ >> from bloomberg world headquarters in new york, i am david westin.balance of power, where the world of politics leads the world of business. today, given serenely on the swearing in of a new congress, and like a wiki on the continued market selloff in new york and his interview with the dallas fed president robert kaplan on why the fed should pay attention. we have a new congress about to be sworn in and i think they started receiving's now. what should we expect? kevin: proceedings are underway as nancy pelosi will take control of a new democrat majority in the house of representatives, but all of this comes as the government remains partially shut down, with no end in sight. the president meeting yesterday with a bipartisan group of lawmakers in order to continue discussions on negotiating some type of truce agreement, but lawmakers were unable to get to an agreement and they say they will schedule back tomorrow.

i'm david westin with alix steel. nfib survey out. exceed expectations. optimism has dropped as well. you've got taxes, no stimulus is coming their way again. and their biggest concern is getting employees. they are running out of employees. alix: i love nfib good we may have had a bottom but what kind of strength will we see in earnings season? are we still in a relief rally or do we have firm bottom signals? euro-dollar pretty much flat. we could be in a technical recession. confidence in europe wound up falling as well. not a lot of reaction in the currency market. they see 3% rather than 3.5%. save haven is a treasury now. and crude up by over 1%. it's the seventh day in a row. sincest we have seen 2017. david: you are on a streak. time for the morning brief. today is the start of the computer -- consumer electronics show. at 1:00 this afternoon the u.s. treasury will be auctioning $380 billion in three-year notes and we will hear from the world bank on where it thinks global growth is headed. alix: let's get to the bottom question here. this is a cha

i'm david westin with alix steel. the record is -- alix: 21. david: saturday was the record. alix: look at that shot. it looks like independence day. the idea that yes, we know the government shutdown does not do anything for gdp and markets, if people do not get a paycheck, what happens? david: 800,000 people on friday not getting a paycheck. and people will start not ticket tax refunds as well. a lot more than 800,000. alix: you could say banks like, come to us, we will loan you money. looking at them markets, the risk on that we saw on friday, a little bit of pause with futures off by 1/10 of 1%. blackrock said clients are reducing allocations to equities. euro-dollar is up. german factory orders fell, but domestic demand and orders in europe improved. and it is a weaker dollar story. 10 year yields lower by two basis points. buying on the back and there. and crude is up nearly 2%. why? we could not tell you. oversold rally, maybe opec perry back risk. david: take it where you can get it. now for the morning brief. we are looking at the entire week ahead. a u.s. delegation

. ♪ david: from bloomberg world headquarters, i'm david westin. welcome to "balance of power."y, emma ross thomas on theresa may's next steps for brexit. and it is a 27 of the government shutdown. and from capitol hill, kevin cirilli on the robert mueller investigation. emma, first day of the rest of her life today for theresa may, so what is next on her agenda? talksthe moment she is in with opposition parties about the way ford for brexit -- ford for brexit, with a jeremy corbyn boycotting the talks. but the precondition she takes the deal off the table before he says down with her. some members of the party have been in talk with theresa may, but not many signs yet that may is prepared to make big concessions. what that means is as we go into monday and she goes to parliament with plan

. ♪ david: from bloomberg world headquarters in new york, i am david westin.ce of power," where the world of politics meets the world of business. havecaracas, venezuela, we a correspondent on the dueling venezuelan presidents. and ecb president mario draghi draghi's warning. we have two people claiming to be president of the country. >> top military brass are still throwing support behind maduro. the defense minister and others put their support that they would not be backing down, that they would continue to support him, that they are "still willing to die for their country and their fatherland backing maduro." grip brokenseen a on them yet. davi

. ♪ david: from bloomberg world headquarters in new york, i'm david westin."balance of power," where the world of politics meets the world of business. on the brief, michael mckee on the continued slowing of the chinese economy. and from washington, vice president pence's message to venezuela. we were anticipating number that of china and has confirmed what we expected. michael: markets reacting to the slowing in the chinese economy. china reported growth fell in the fourth quarter to 6.4%, that is the weakest since 2009. there were concerns expressed to the parties leaders. capital economics says that the slower growth could it shave two percentage points off of global growth this year and according to citigroup, the chinese slowdown may slow global expansion off course. it will be slower than

. ♪ david: from bloomberg world headquarters in new york, i'm david westin.ance of power," where the world of politics meets the world of business. we are inief today, washington on the latest report that china could be making an offered to the united states. michael mckee from new york on alibaba. and we are at the white house with the spinning wheels on the government shutdown. in washington, there is a report that china has made an offer to eliminate the trade deficit, really? >> what we have heard is that these negotiations in beijing earlier this month, the chinese aid out an ambitious plan, $1.2 trillion buying spree over six years, which they said they would use toy eliminate the trade deficit with china. and the u.s. response was skepticism and a demand that the chinese actually reduce or eliminate that trade deficit in two years, in an

. ♪ david: from bloomberg world headquarters in new york, i'm david westin.o "balance of power," where the world of politics meets the world of business. on the brief today, we are in washington on the second day of the u.s.-china trade talks. kevin cirilli on a second day of congressional meetings. correspondent our on italy moving into a recession. an updateton, give us on what is going on in these talks. >> president trump has weighed in on twitter, declaring that the talks are going well, but more importantly declaring that really the final deal, if there is one, will be negotiated by him and his asian paying in the near future. -- by him and xi in the near future. . how that will work. but we have been hearing that the chinese did not bring much to the table this week, other than an invitation for the president

. ♪ david: from bloomberg world headquarters in new york, i'm david westin, welcome to balance of powerrld of politics meets world of business. we will speak with the new chair of the house budget committee about how the government shutdown could get back on track. we will go live to jp morgan's withjamie dimon, and talk the former u.k. and bassett are to the united states -- ambassador to the united states about the brexit drama. but first, with little public sign of any resolution on the shutdown, president trump is ordering thousands of furloughed employees to return without pay. this on top of the thousands already kept on the job as mission-critical. we welcome one of the key people working to resolve the impacts, , agressman john yarmuth democrat from kentucky, he now serves as the chair of the house budgetary committee. thank you for joining us. >> it's good to be with you. david: what about the president ordering these people

. ♪ david: from bloomberg world headquarters, i'm david westin."balance of power," where the world of politics meets the world of business. on the brief today, from london, rosalind on the imminent brexit vote. sarah mcgregor in washington on trade negotiations. and on the plight of venezuela, damien is here. i saw the beginning of theresa may's remarks, where are we now in the process in parliament? rosalind: we are two hours away from the vote on seven amendments, which should go for two hours. there are two key amendments to watch and things are really falling along party lines. one amendment that the government is putting its weight behind, which with their loud the backstop it would begin again. and the other one labour is throwing its weight behind, to put a delay on brexit past the deadline to leave the european union. both votes could be close, but

david: lumber merkel headquarters in new york, i am david westin. welcome to "balance of power." day 17 of the government shutdown. and prime minister theresa may's push in parliament on her brexit plan. i want to go back to you on the shutdown. five minutes ago, we had sarah sanders say the president is about to travel down to the southern border to inspect the situation. what is going on? >> it looks like he will go down there thursday which means we probably will not see a resolution by then. trump was tweeting there could be talks on monday, tuesday, and wednesday. there are no talks scheduled today. it looks like another the are stuck to ramp up pressure on democrats. david: he said he could invoke a national emergency to build the wall. is this to reinforce the claim there is a national emergency? not everyone is convinced.

i'm david westin. we are going to turn to a story of facebook.ngs will be coming out after the bell. we are. as of what that will happen. particularly investors. first we go to sarah frier and emma chandra right here in new york. is the privacyut issue. we saw within the last 24 hours, they pay teenagers to give personal data. is this a way on the earnings , sarah? sarah: apple has revoked facebook's and are tech -- enterprise. it basically means facebook cannot use any of the apps it is using internally that allows to test products. everything has to go through app store review. facebook employees are very burdened by this. inn if it is not showing up the concern of investors, it is certainly resonating within the halls of the menlo park headquarters this morning. david: emma, let's turn to you. give us a table setting of what we are looking for as the earnings come out. emma: the earnings will be coming out after the bell. there has been an amount of optimism about user growth and things like that. but what sarah is referring to is a continuati

. ♪ david: from bloomberg world headquarters, i'm david westin. welcome to "balance of power" ."f today, the senate is prepared to vote on getting the government up and running again. in monday, putting off the brexit deadline. and growing opposition to the president of of venezuela. on capitol hill, there was back and forth about the two sides coming together on this, on some bills to be voted on. >> there is hope that will happen small since there will be two bills on the floor, it is possible that we get a partisan vote again on thursday in the senate. we did say chuck schumer just recently saying that he hopes republicans will vote for their democratic proposal after the trump proposal is on the floor, because the democratic proposal does nohave things that the

david westin spoke to him at the international auto show. >> i think the auto business is going to beeconomy itself has signals that create uneasiness. i don't think is any markers that say you're going into any kind of recession right now. amanda: david welch has written that the next american car recession may have already started. david, we do have signs of strength in some parts. we have this great outlook from general motors and there's one particular part, the sedan, that in recession. what's going on? -- sedan salest have plummeted. motors is getting rid of the for cruz compact and they are getting rid of some of these vehicles. they just don't sell, they don't fetch good prices and then he walked round of the auto show and there's a bunch of jeeps. a new ford explorer, the cadillac x 26, an suv, nissan infiniti brand has an suv out on stage as well. car,a's super sports that's been done for a while. what the business case was in an environment like this, he says sometimes it's all about emotion and toyota loves to drive. it's about where the chairman wants and where the market

david westin sat down with seven top executives to discuss the state of the industry in their companiesng with the ford president and ceo, jim hackett. >> i want to tell you, i'm not happy about ford's performance. that should just be said. i knew it was going to be a difficult year because of the age of a product. we are moving from the oldest product line in the industry to the most refreshed, 75% of the products, all-new in the next two years. that is going to be really important. you put that against what kind of market we expect, i think the auto business is going to be solid. the economy itself has signals that create uneasiness, but i don't think there is anyone who would say we are in any kind of recession right now. >> so when it comes to the economy, what affects your business? is it sentiment overall? concern about training complex? what drives your business? >> sentiment is a big deal, because people want to believe their jobs are safe. interest rates can matter because of the changing profit of the vehicle. but i think it is right now -- things are firing on all cylinders i

and that was the ford president and ceo speaking to david westin earlier today.asoline are adding two automaker woes as the suv a clips is the traditional sedan. our guest joins us. avid, your story is fascinating piece. it's on the bloomberg terminal right now purity is the issue -- terminal right now. is this issue about people buying fewer cars or shifting from one type of automobile to another? it's absolutely about shifting taste. if you look at the market last year, it was roughly what it was the year before. historically that's pretty good. not too far off the record, actually. car companies can make money. then the question becomes why yet theyclosing plants have factory set up to make sedans, compact cars. people not buying them. z compact, they have the factory set up to run three shifts. when they closed it down it was running one shift. you lose a lot of money. people are going from one vehicle to another. and they are running be plants that make the suv's a lot hotter. it is about shifting. lands.ve they have engineers. they have marketers. people wh

david: from bloomberg world headquarters in new york, i am david westin.me to "balance of power," where the world of politics meets the world of business. on the brief today, from laguardia airport, viviana hurtado. the faa putting every stop on inbound flights. from capitol hill, day 35 of the government shutdown. and kevin cirilli on the rest of presidential advisor roger stone. viviana, we start with you. viviana: david, we are here in terminal b, gate b. this is basically the american airlines area. there was a whole lot of yellow, yellow meeting delayed. about half of the flights we were able to see delayed, this coming just off of delta sending out a statement saying about 200 of delta's flights are delayed here at laguardia. there was a disruption caused by

. ♪ david: from bloomberg world headquarters, i'm david westin.o "balance of power," where the world of politics meets the world of business. on the brief today, from capitol hill, we have anna edgerton. the government getting back to business. sarah mcgregor entree negotiations with china. and from caracas, andy was body on a country in limbo. on capitol hill, getting back to business, but can they focus on anything other than the short-term deadline that they have or are they doing other things? anna: you get the sense the committee and the other elements of congress are getting back into a normal rhythm. we of committee hearings on some elements other than the shutdown, there will be a discussion about the democrats' first bill, a sweeping corruption measure they want to pass through the house, but there is an undercurrent of the shutdown as this continues to be negotiated. david: right now we will go to sarah mcgregor,

i am david westin. president trump asked for time to address the nation. the federal government remains shut down for one reason and one reason only, because democrats will not fund border security. simple, mgestion is

headquarters, i'm david westin. welcome to "balance of power" ." on the brief today, the senate is prepared to vote on getting the government up and running again. in monday, putting off the brexit deadline. and growing opposition to the president of of venezuela. on capitol hill, there was back and forth about the two sides coming together on this, on some bills to be voted on. >> there is hope that will happen small since there will be two bills on the floor, it is possible that we get a partisan vote again on thursday in the senate. we did say chuck schumer just recently saying that he hopes republicans will vote for their democratic proposal after the trump proposal is on the floor, because the democratic proposal does nohave things that the republicans want as well. david: we will come back to you. we are going overseas to hear from emma in london. it sound like they are opening the door to putting off brexit sort of officially. emma: not official yet. , butsa may holds the line her tone has changed in recent weeks, particularly in recent days