joining us now is the anchor of "balance of power," david westin. ng ahead to where we go now in terms of the tax plan, etc. what are you hearing now on the ground? david: some democrats are saying you don't have to worry about taxes. borrow the money. deficit spending is just fine right now. he has a big challenge because he has to hold his entire caucus together. joe manchin is very reluctant to raise taxes. but there's a general consensus that if they are going to go forward, it is probably going to have to be through reconciliation. that is to say, not having any republicans go with them. guy: what are you hearing about the midterms? because this is where life gets quite interesting. the package so far, the real question is, does it get done well? does it get done with checks and balances? does the u.s. economy benefit from it? how does that play into the politics of the midterms? you're talking to a lot of people in the democratic party at the moment. what does it say about their since of the wave they will be writing into -- they will be riding

for a special with david westin in new york.illey, wilmington trust chief economist will be joining "balance of power" with david westin. if you're in london, stay on dab digital radio and check the cable with me and guide. this is bloomberg. ♪ [ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. ♪ ♪ the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- ame

david westin eating our coverage tonight of the president of the united states.e that, earnings with the close comment before that i think there is a fed show at 2:00 p.m. lisa: there is. tom: stay with us. ♪ wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. over the next 10 years, comcast is committing $1 billion to reach 50 million low-income americans with the tools and resources they need to be ready for anything. i hope you're ready. 'cause we are. we know how much you count on us... ...and that's why we're here 24/7... ...and on the road maintaining a fast and reliable network. we're always working to ensure the internet meets your needs... ...by making access easier for all... ...with comcast lift zones and our internet essentials program. we're invested in making our apps easy... ...to give you personalize

i am david westin. we will start with news out of the treasury department.inistration starts to get -- the biden administration starts to get more specific about corporate tax receipts. michael mckee is here with the latest cure they will find a lot of dimes and nickels in the questions. michael: they are looking more for benjamin's. we already know the what of the biden tax plan. this is the why, the sales pitch the administration will lose -- will use. biden plans that companies that make more than $2 billion of revenue will have to pay a tax of 15%. basic philosophy, make them pay something. 15%, even though the headline rate is 28%. treasuries says about 180 companies would meet the

this is wall street week, i am david westin. rs of harvard and bloomberg's a stephanie sanders. roth flushed line of evercore. >> there is the big question of demand. david: steve yougov bain capital. >> i think there will be inflation. david: janne barton of eaton vance. >>

commerce secretary gina raimondo speaking to david westin in the past hour.nment side of higher taxes. the business side is different. we spoke to the chevron ceo who said the u.s. has remain competitive. let's get the political point from libby cantrill, pimco head of u.s. public policy. i'm assuming the truth will be somewhere in between. where will we land when it comes to corporate and individual taxes? libby: yes. good morning. that is absolutely true. it is something we have been reminding our clients. it is not the president to rights legislation but congress. -- it is not the president who writes legislation but congress. much of what the president said will likely be watered down. that said we think taxes are going up in the united states, the personal tax rate will likely revert to the pre-trump level of 39.6%. corporate tax rates will be trickier. our view is it likely glanced around 24% or 25%. importantly, and it may be even more onerous for multinational companies, we do expect an increase in the tax on foreign profits for u.s. companies bottom

i am david westin. ll is about to sit down with david rubenstein for a conversation at the economic club of washington and we will bring you that live. in addition we are watching the possible launch of an unmanned space flight out of west texas. in the meantime president biden has made it official. he will withdraw all u.s. troops from afghanistan by september 11, the 20th anniversary of the 9/11 attacks. we asked thomas pickering, former ambassador to the united states and russia, whether it is better to leave or stay in afghanistan? >> the consequences of staying are keeping 2500 american troops training afghans that have demonstrated over the last five years and inability to increase their capacity to protect their own country. in a situation w

i'm david westin. ributor larry summers of harvard on the fed playing chicken. >> i think it is an economy on fire. david: daniel on the shortage of restaurant workers. and on the president's tax plan. >> the greatest science experiment conducted in the history of economic policy. david: katie koch of goldman. be sure prasada of cornell on the covid catastrophe in

i am david westin.ever seen as dramatic a rebound in the economy as we appear to be seeing now, in part because we have never seen the government intervene as much as it is. to give us perspective on where we are and what is likely to come next, we welcome someone whose career has been in the leadership of commerce and the government. ralph schlosstein's cochairman and co-ceo of evercore. it looks like the economy is coming back. earnings are strong so far. how do you see it from your chair? where is the economy and where is business? ralph: the economy is in good shape, poised to make a rapid recovery and i believe, if anything the economy is going to surprise on the upside. there is so much pent-up

i am david westin. we start today with the story of india.t the developing world hard. india is reporting over one million new cases in the last three days. less than 2% of its population has been vaccinated and it is running short of critical supplies. for what this means for the world, we welcome ian bremmer, founder and president of eurasia group. this is an epic story right now. it has struck so many of us. give us your sense about the ramifications of what is going on in india. ian: a bigger story than we think because the indian government has very limited capacity to test their population. it is a massive population. half of it is rural. at best, the real numbers are two times to three times what they're repor

david westin joins us now. kind of commentary that was had so far is that it is not a cause for celebration, there is no jubilation because the baseline would have been if there was no institutional racism and police brutality in the first place. how valuable is this verdict in pushing things in the right direction? david: it is not cause for celebration, but i have seen celebration in different parts of the country. you can celebrate. there is -- can't celebrate. there is a man who is dead and another sent to prison. in contrast to cases in the u.s. where there have been black men killed by officers and they have not been held to account for various reasons. this is in sharp contrast, that a jury came back in resoundingly to find mr. chauvin guilty on all three counts he was charged with. it was a departure from what we've seen in the u.s. in recent days. what comes next? how do we avoid the next george floyd? shery: what is being done right now, whether in congress, nationally, through states and localities?

much more ahead with the start of wall street week with david westin.ry summers and mike moran and -- brian moynihan. the most downloaded social apps of 2020 was tiktok. the app's popularity as well as emergence as an e-commerce platform. the biggest influencers and content creators like that. you do not want to miss the series. all week long care on bloomberg. meanwhile, thanks for joining. this is bloomberg. ♪ want to save hundreds on your wireless bill? with xfinity mobile, you can. how about saving hundreds on the new samsung galaxy s21 ultra 5g? you can do that too. all on the most reliable network? sure thing! and with fast, nationwide 5g included - at no extra cost? we've got you covered. so join the carrier rated #1 in customer satisfaction... ...and learn how much you can save at xfinitymobile.com/mysavings. wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi?

stay tuned for balance of power with david westin. oomberg. ♪ ♪ david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, welcome to "balance of power," where the world of politics meets the world of business. i am david westin. president biden addresses a joint session of congress tomorrow evening and part of it will be given over to new social programs he proposes and paying for them with increased taxes. for a preview we welcome laura davidson who covers capitol hill for bloomberg. it seems like everyday there is a new tax proposal. what is the latest? laura: a long list of tax increases. one big one this morning is an inheritance tax that has been on the books for many years. it means when someone who has a stock or a business during their lifetime, when they died there is a tax paid on it before it is passed on to their heirs. that would be the big change. also looking at the top rate going up to 39.6, as well as a big investment in the irs to defund their efforts on audits.

i am david westin.es is today imposed sanctions on russia -- that is the wrong prompter. let's get a market check with abigail doolittle. there is movement around but does not seem as dramatic as yesterday. abigail: i would agree with that. wrong moves on the day. of more interest is the week. a fourth up week for major averages in the u.s.. the first time we've seen that with the nasdaq going back to october. that is certainly risk on the neat the surface, it is super interesting. you have the nasdaq 100 and technology up on the week, but you have the banks down. that has everything to do with rates being down. the 10 year yield down for a second week in a row. it takes the pressure off evaluation questions around tax and it weighs -- around tech and it weighs on the banks overall. also interesting is on a weekly

i am david westin.orning, certainly with the cdc's announcement it would pause further use of the johnson & johnson vaccine until further study. a short time ago janet woodcock from the fda addressed how long that pause might be. janet: the timeframe will depend on what we learned in the next few days. we expected to be a matter of days for this pause. david: for this story, we welcome drew armstrong, who heads our health care coverage at bloomberg. give us what we know at this point about the issues with the johnson & johnson vaccine? drew: we know there have been a handful, and i meet a handful, half-dozen cases of blood clotting out of around m

alix: staying with politics, coming up, lanhee chen, bloomberg research fellow joins david westin. ay. this is bloomberg. ♪ david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, welcome to "balance of power," where the world of politics meets the world of business. i am david westin. we start with a check on the markets come as we do every day. the big question on most people's mind is equities dipped on this news of a possible repealing of the capital gains tax. how are they doing today? kriti: they came right back up. he saw the s&p 500 pay or all of the losses when we know the capital gains taxes paints the market -- yesterday story was tech underperformance. think about it as the baker stocks get hit on capital gains tax. today's story is tech outperformance. i want to show you that the nasdaq 100 is over 1%. an important risk on move. volatility goes lower. yields now dropping. for the majority of the morning session, you did see yields higher as well. lastly you have the bloomberg dollar under pressure, which we also look

coming up, steve rattner will be joining david westin on balance of power. london, check us out. guy: if you're in london you could watch david or you could listen to us. the cable show at the top of the hour. alix and i walking through the price action in europe. this is bloomberg. alix: -- this is bloomberg. ♪ ♪ ♪ look, if your wireless carrier was a guy you'd leave him tomorrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. i'm deleting it. so, break free from the big three. xfinity internet customers, switch to xfinity mobile and get unlimited with 5g included for $30 on the nations fastest, most reliable network. so many people are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's golo. golo helps wi

i am david westin. counted in the amazon warehouse workers in bessemer, alabama have voted not to be represented by a union, which will likely be challenged by the union as a result. we want to bring you up to speed on what the possible effects are for amazon and organized labor. for that we turn to bloomberg's michael mckee. not entirely unexpected but how important is it? michael: it is important for amazon and the unions. there may be some hope down the road. union went into the heart of antiunion territory and tried to organize the amazon warehouse in bessemer, alabama. they got 1798 no votes out of 3200 cast. a decisive loss. that does not mean the union movement is dead because it does have the support of president joe biden

i am david westin. news from the white house on the pace of covid vaccinations, with president biden expected to speak at 1:00 eastern on the subject. we have a sneak peek. joining us is bloomberg news white house reporter josh wingrove. the president set some lofty goals. initially it was 100 million in his first 100 days, that it was 200 million. josh: they will hit the 200 million goal on thursday. we expect him to talk about that. a bit of a pipit from him and that he will issue a call from employers long and small to get there workers vaccinated. this is an implicit side they are running out of arms of people who are eager to chase down the shot and they are pivoting to try to make it easier for folks who want a shot and are willing to get one but are not as motivated to hunt e

i want to bring in my bloomberg colleague, david westin. you have covered many of these trials over your career, and many trials where the verdict wasn't different. i'm curious what you are feeling right now, what your reaction to this is. david: if the nation wanted a clear answer, they got a clear answer. the jury was not out very long at all, in my judgment, 20 four hours more or less, and it was guilty right across the board on all three charges. sometimes jurors compromise an trade-off, maybe we will hold him on some and acquit him on others. this jury was emphatic. if we wanted a clear answer, we got a clear answer. sentencing will be in eight weeks, but he is moving right along. emily: we are waiting on president biden to make a statement from the white house. he had said he would make some remarks after the verdict came in. obviously, it felt like not just the system on trial but our country on trial, and a much broader statement about how america values black lives. what do you expect to hear from the president? what do you think th

david westin will be speaking to brian moynihan 5:00 p.m.ork time as part of a special wall street week. you won't want to miss this. that does it for "what'd you miss?" bloomberg technology is up next. have a great evening. this is bloomberg. ♪ taylor: this is "bloomberg technology." coming up, it is the public debut of the year. going basic going public via a direct listing, shunning the traditional ipo market as it eyes that $100 billion

it's very interesting and all of those comments may have been on david westin's show so watch at 6:30.m. tonight. coming up, more on joe biden's tax plan as well as his spending plan with the cdo of -- with the ceo of pgm this is bloomberg. . >> >> i don't believe every tax cut is good. >> a lot of us were surprised to much of they were cut. >> we are coming off of a time when taxes were cut for corporations and individual tax increases were not responsible for corporate earnings. it looks like the economy is heading off to the races here. >> the incentive of the tax savings to make capital investment creates jobs and raises living standards. if they take these incentives away, i think it's insanity. >> that could have an impact on corporate taxes. >> from a corporation perspective, the amount of investment that actually gets made because people worry about what the text structure will become a we will have an issue. >> we are in for a great perio of growth andd economic activity around the world and the expectation is that will prevail over the text situation expected. >> we are used

coming up, david westin joins us. >> we will talk to a former secretary of defense leon panetta aheadf bidens address to congress. that's coming up next. this is bloomberg. ♪ david: welcome back. president biden is about to deliver his first speech to a joint session of congress since he took office in january. we are joined now by leon panetta, chairman of the into for public policy. he previously served as the director of the ce -- cia. i could go on and on. inc. for joining us. leon: to be with you. david: whatever you think about the republicans and democrats, this president has had a very aggressive, ambitious policy program in front of him. is it possible to go too far, too fast? is it possible to have overreach? leon: obviously, the president is getting some high marks for the way he has handled the presidency. the ability to restore the trust in the office of the presidency itself and out he has handled the pandemic. he's obviously painting out a very bold vision about the country and where we can go. the ultimate test for any president is not the vision but what he can get do

juliette: that was brady dougan speaking to david westin.et's head to new york and get the first word news with vonnie quinn. >> fed chair jay powell says he's more compared about raising infections than rising prices. in an address to the monetary fund, power-play down the risk that inflation could get out of control, sang a spike would only be temporary. he said the fed has the necessary tools to deal with rising prices and will provide support to the economy as it recovers from the pandemic. president joe biden announced exec of actions to curb gun violence. is urging congress to adopt stricter laws while denying the new measures infringe on american's second amendment rights. just before biden spoke, another shooting left people dead in south carolina, including two children. it's a move that could fuel tensions with top -- with china. he's a former member of the legislative council. he fled to london after china introduced national security powers for the former british colony. he's slated for arrest if he returns. brazil recorded 4,229

brian moynihan weighed in on the issue with david westin.: a group of people to go study this and come back with what should be a set of recommendations. states can make a decision, but that way you would have a studied group of people, that is the right way to conduct the election. let's see what they say. david: when you decide to take a position that is political, -- is that what you did it? brian: our teammates are saying, wait a second, if we think this is something, we have to make it clear that we stand for the principal of the right to vote and we should not infringe upon it. that was the statement from earlier this week. look at the list of people, they fall on all different political sides. this is what america is all about. annmarie: more from that interview, bank of america ceo. in the wake of fresh u.s. sanctions on moscow, what does the future relations between president biden and putin look like next? this is bloomberg. ♪ pres. biden: the united states is not looking to kick off an escalation and conflict with russia. we want

david westin is interviewing the ceo of bankamerica. ynihan will join david tonight in just a few hours. that comes at 5:00 p.m. new york time, 10:00 in london. online ordering platform slice raises $40 million in its most recent funding round. what the investment means for the company with the founder and ceo next. this is bloomberg. ♪ amanda: this is bloomberg markets. i'm amanda lang with matt miller. online ordering company slice just closed on the funding round. some rather well-known names in the venture space. the founder and ceo is with us now. great to have you with us. obviously pizza is hugely popular and you are acting as that intermediary. what does slice have to offer? what's the competitive carrier to the pretty well entrenched other systems? >> absolutely. our mission is to keep local thriving and sliced takes the position of being a first party direct partner to 16,000 small businesses across 3000 cities and towns and we take the position of being a direct primary partner to these independent businesses that have critica

let's get over to david westin, who joins us now. what is your reaction to some of the remarks we heard from president biden and, in particular, we heard of course first from the vice president. david: obviously, he is trying to mend the nation, trying to move us forward. he said three things of great importance. it's all too rare that we have this accountability. this is a great thing that we are holding this police officer accountable but it is all too rare even how common this sort of experience is. number two, he relied on his justice department, saying he's counting on them to have fundamental reform incremental justice. of course he talked about the george floyd justice in policing act and noted that kamala harris , his vice president, was one of the authors of that, and said we need that done right away. in the end, he said it's not enough to do it by law and regulation. we have to change hearts and minds. there's no safe harbor in this country for hate. he particularly called out agitators who would engage in violence on eithe

i want to turn the conversation over to our very own david westin, standing by with a general motors esident -- the general motors president. i will toss it over to you, david. >> we welcome now are bloomberg radio television audience as we are joined by the president of general motors. mark, welcome. you've got a big announcement. tell us all about the suv. you love these cars. >> i do. we are redoing and remaking and giving our electric vehicles the highest technical attention that we can. cadillac, our first cadillac that we are launching here is the lyric. it's just a beautiful car. we showed it for the first time in production. i have to say, very proud of our teams. we really have a production vehicle that is a rolling sculpture and very close to the concept car. in almost every way. we are very excited. it's the new ev. as we go to convert the plan. and also, we announced over the last couple of weeks that we are building a brand-new battery factory. a second battery factory in ohio in springhill next to the plan. it is a jv with our partner, algae. -- lg. it is a great partner

jonathan: brian moynihan there catching up with david westin on the corporate stance in politics in thisntry. in new york city alongside lisa abramowicz, i'm jonathan ferro. i'm smiling because i know tom keene is looking from the other side. equity futures up around two points on the s&p 500. into the bond market, yields coming in a little bit. what a rally yesterday. euro-dollar, 119.81. let's sit there on the bond market. a big week of gains for this treasury market in the context of high cpi, retail sales better than expected. lisa: we got the better than expected chinese data, the gdp figures coming out strong from china. it is a two-pronged engine when it comes to the global growth picture. why are bond yields falling? jonathan: the conversation around is this as good as it gets, i find it interesting people have switched to that story. what happens in the bond market is about what happens cumulatively in 2021. just continual growth, the cumulative process of it that reintroduces the rate factor. i'm surprised we are saying this is as good as it gets as if all you are seeing is one

i am david westin.for a verdict in the criminal trial of derek chauvin in minneapolis as even others similar incidents take place in minnesota and elsewhere, leaving people to wonder what it would take to have real change in this country. we welcome the third ranking democrat in the house of representatives, majority whip james clyburn of south carolina. thank you for being here. president biden has been addressing the issue of george floyd in the white house. he has talked to the floyd family asking how they are doing and how they are doing and how they're coming along. what you expect to come out of this situation? what would be the best case? rep. clyburn: i do not know what the best case would be. i know what i am hopeful for. all of us saw a legal lynching taking place. that is exactly what happened here. we have to wait.

our washington center for equitable growth president and ceo will join "balance of power" with david westinforget to tune into bloomberg radio's cable show at the top of the hour. boris johnson will be speaking again, looking for a vaccine passport. there is one of them. also, twice a week covid testing for the entire u.k.. hopefully we will get detail on that as well. this is bloomberg. ♪ [ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. ♪ ♪ the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installe

alix: that was brian moynihan, bank of america chairman and ceo, speaking with david westin.he whole interview on "wall street week." let's get more on manhattan real estate. larry fink of blackrock is worried about manhattan, but is joe sitt, thor equities ceo? you and i are both bulls on new york. you and i both grew up here. so we are going to want to see it come back. what do you expect it to be in september as the investment bankers come back? joe: right, thank you. we are already getting good readings. gyms are starting to fill up already. restaurants are reporting good sales numbers. we see a little bit of tourism starting up. hopefully the warm weather brings in a wave of excitement, and i think by september, we get as i call it the violence reopening of new york city. alix: what does a violent reopening look like for a real estate guy? joe: we happened to be benefiting a little. everyone's biggest fear today is inflation. that is why we see so much focus on copper, crypto, etc. but ultimately, you see all over the country, people running to buy homes. i think that, w

shery: oaktree capital speaking to bloomberg's david westin.ll to come, stability is in focus at today's rba meeting with housing loan approval signaling credit growth, a preview of what to expect, next. this is bloomberg. ♪ haidi: you are watching "bloomberg daybreak: australia." the rba decision is a big event today and policy makers are expected to keep settings unchanged but financial stability and risk will be in focus as house prices continue to serve -- surge along with loans. on the deals front keeping an eye on the clean away till after we heard confirmation of the deal with suez to buy the australian recycling and recovery unit. more on the rba decision whether economics editor now. alexandra, a lot to look forward to despite no change in the headline rates. what are you concerned about when it comes to these, the buildup of financially stability risks we have been talking about? >> a focus on financial stability with the rba releasing at financial stability review friday. this is not a statement, where it was announced as policy chan

jason furman will join david westin on "balance of power."the fiscal reality of infrastructure. stay with us on bloomberg radio come on bloomberg television. good morning. ♪ lisa: from new york city for our viewers worldwide, i am lisa abramowicz in for jonathan ferro. the countdown to the open starts now. we begin with the big issue, the return of u.s. exceptionalism. >> u.s. is firing on on cylinders. >> we are seeing a big acceleration. >> extraordinary economic activity in north america. >> it is remarkable considering where we have come from. >> blockbuster data. >> vaccine rollout and enormous stimulus. >> the u.s. is definitely -- >> coming strong pure >> the u.s. is going to talk everyone along for the ride. >> there's no way to go wrong buying u.s. assets. lisa: what does that mean for the rest of the world? let's bring in michael mckee and kailey leinz. michael: the imf is out with its latest economic forecast and the guy on the bar who is buying ar

coming up on television, the eurasia group president will join "balance of power" with david westin.on bloomberg gap digital radio. -- bloomberg dab digital radio. we will break down what happens in europe. have a great thursday. this is bloomberg. ♪ it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. - [announcer] imagine having fuller, thicker, more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personalized to match your own natural hair color and texture, so they'll blend right in for a natural, effortless look. call in the next five minutes and when you buy 500 strands, you get 500 strands free. call righ

georgia senator jon ossoff joins david westin on "balance of power."omberg. ♪ let's check in on the bloomberg first word news now. i'm ritika gupta. today, congressional democrats will start considering biden's $2.2 trillion spending and tax proposal. it is up to house and senate leaders to determine how to package the proposal. his american jobs plan focuses on infrastructure and some social measures. the president is expected to ask for another massive investment in programs focused on health and families. iran has blamed israel for an attack on the power network at its largest uranium a richmond plant at a time when diplomats are trying to -- uranium enrichment plant at a time when the mets are trying to revive the deal that contained iran's nuclear program -- a time when diplomats are trying to revive the deal that contained iran's nuclear program. israel denies response of the the attack. -- denies response ability for the attack. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in m

tom: david westin leading our coverage tonight on the president's speech. benjamin joins us.ead nancy's article carefully. is this thing dead on arrival or will it be subject to amendment in the coming months? ben: this will be the centerpiece of a lot of back-and-forth in d.c. over the coming months. everything that's in this plan that we will hear about tonight is quite unlikely to make it over the finish line. this is the opening salvo. what we hear from the president is a lot of things americans watching tonight probably sounds pretty good. you will hear about free pre-k, you will hear about more money to be able to go to community colleges for free. you will hear a lot of things that he talks about during the campaign and a lot of americans probably would like. so i think what he's going to do tonight is sell this not to the 200 members, it's good to be less than normal because of the pandemic in the chamber but he will be trying to sell this to the american public. tom: mcconnell in kentucky calls it a liberal whistler. -- with list. -- wish list. jonathan: what is in t

jason furman, former council of economic advisors chairman will be joining "balance of power" with david westinmberg television and radio. corporate taxes in the u.s., where will they end up is the real question. guy: laura cooper joining us for the first few blocks on the table discussing what the markets will like. europe back in record territory, back out of the pandemic whole your will figure out some of where the -- back out of the pandemic hole. we will figure out where some of the equity markets will go. how bumpy will it be? you can find it on db digital radio. this is bloomberg. ♪ want to save hundreds on your wireless bill? with xfinity mobile, you can. how about saving hundreds on the new samsung galaxy s21 ultra 5g? you can do that too. all on the most reliable network? sure thing! and with fast, nationwide 5g included - at no extra cost? we've got you covered. so join the carrier rated #1 in customer satisfaction... ...and learn how much you can save at xfinitymobile.com/mysavings. guy: -- david: from bloomberg world headquarters in new york, welcome to "balance of power," where th

david westin will speak with bank of america ceo and chairman brian moynihan, coming up at 5:00 p.m.n new york. this is bloomberg. ♪ ♪ ritika: it's time for the bloomberg business flash. i'm ritika gupta. big transaction today in the health industry. thermo fisher has agreed to buy ppd, a provider of clinical and research services for the biotech industry. the price, 17.4 billion dollars, a 24% premium to ppd's closing price tuesday. united health raised its forecast for 2021 after first quarter earnings beat estimates. the largest u.s. health insurer is the first in the sector to report and is seen as a bellwether. the company's insurance division has added more than one million new members since the end of 2020. on loki -- houlihan loki is trying to lower the burden for investors. it will offer all expenses paid vacations. that is your latest business flash. alix: man, i love that story. how much money has houlihan lokey. to be making for that? coming up, more on the sections on russia. this is bloomberg. ♪ loomberg. ♪ want to save hundreds on your wireless bill? with xfinity mobil

tomorrow, bloomberg's david westin sits down with bank of america's brian moynihan at 5:00 p.m. the bank's earnings. you do not want to miss it. this is bloomberg. ♪ want your workout to be easier, more effective, and more convenient? then you should try aerotrainer by golo. the new full body workout that you can do at home or anywhere. it's great for planks, squats, core, and glutes. you'll strengthen and tone muscles, relieve back pain, and reduce stress. it's also great for yoga and pilates. get noticeable results in just ten minutes a day. (woman) aerotrainer makes me want to workout. look at me. it works 100%. (host) all of this is a $300 value, but through this special offer, you can get the entire aerotrainer system for just four easy payments of $19.95. and if you order today, we'll also include free shipping. still not sure? then we're eliminating the risk. try the aerotrainer in your home for 60 days. if for any reason you don't want to keep it, we'll give you a super easy refund. we'll even cover the return shipping. this is a limited time offer, so go to aerotrainer.

delta was heated in his conversation with david westin, saying domestic versus international works outin 2022. james sweeney joins us with credit suisse. i want to get to the inflation discussion. let's first look at the body count discussion. delta airlines said they are having trouble cutting employees , things are ramping up so fast. how close are we do it tight labor market in america? james: we are close to a labor market where firms are racing to hire more workers in a shortened period, and that is likely to put upward pressure on wages. that is not the same thing as an equilibrium labor market. it is not a low unemployment rate. we will see wage pressure with high unemployment for a while because firms would need to get these people back quick because vaccinations are happening. social distancing is going away. tom: your claim as you put the inflationistas in the timeout chair. how are those inflationistas doing now? do you agree with them that we have something to worry about. james: i think they're a little excited at the moment and the question is temporary or not. it is not

i am david westin. we have two ongoing events at this hour.ll be speaking on the economy at the imf and we'll bring you highlights of that throughout our program. at the same time, president biden has just begun speaking at the rose garden. he will be announcing executive orders including ghost gun's. you can watch that using the function live go on your terminal and we will bring you any headlines. let's check it on the markets with abigail doolittle. it has been a lackluster week. low volume. abigail: not a lot of action. yesterday crickets was the name of the game. today more. we do have gains with technology shares. that has to do with the fact that rates are lower. the s&p 500 is up about .3%, carving out a new all-time high. the nasdaq outperforming, up closer to 1%. that has to do with tech.

his present -- his special presidential envoy will speak to david westin. this afternoon at the 3:00 hour. red and green on the screen with a little bit of an upside tilt. i must draw your attention to the real yield. you'll be able to see that this afternoon and out on digital media later today. good morning. ♪ it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. (woman) i don't want to look like this anymore. (man) what is happening to my body? (woman) why can't i lose weight? (announcer) you may be suffering from insulin resistance. measure your waist. females measuring more than 35 inches and males measuring more than 40 inches may have insulin resistance. to learn how to reverse insulin resistance and lo

with david westin. we get you down to retail sales in america.is "bloomberg." ♪ >> in phone call with vladimir putin, president biden warned he would defend u.s. interests. the president next move could come as early as today. the biden administration expected to impose sanctions on russia for legend misconduct -- alleged misconduct. a number of russian individuals and entities would be punished. the entire u.s. house will vote on the slavery reparations bill. the house panel approved a measure to create a commission to study reparations for the descendants of slaves. opposition from republicans banks final passage unlikely. president biden has ditched many of his predecessor's but he agrees with donald trump on the need to limit exports of u.s. technology to china. last week the biden administration added seven chinese supercomputing firms to a blacklist. u.s. businesses cannot sell to them without special permission is little support in congress freezing that pressure on china. job openings in london finance industry soared 70% and in first qua

matt: now -- that was former credit suisse ceo brady dougan speaking to david westin on "balance of powerout tiger limits for its hedge fund and family office clients -- tighter limits for its hedge fund and family office clients. joining us to discuss his dani burger. what exactly is credit suisse changing here? dani: it really has to do with margin requirements for swaps. swaps are what they use to build leverage. estimates go much higher than five times leverage. he did not have the collateral when those margin calls came. in order to rein that in, credit suisse is no longer having static margin requirements for hedge funds and family offices. they are no longer going to say, give us this fixed amount and this is the exposure you can get in terms of size or positioning of account. now, it's going to be dynamic. they are going to look at the risk of the underlying positioning itself, be a volatility, be a concentration. that will dictate how much collateral they have to put up. in all likelihood, this will lead to more collateral required by clients and potentially more profitability if