on that. 0k, jamie dimon saying he will keepjobs in based on that. 0k, jamie dimon saying he will keep dimon saying he will keepjobs in the uk for now at least. the financial times is looking at this age—old problem that never seems to change. women still missing out on a senior jobs in the financial industry. this is the financial times' own research and survey into the situation. give us and survey into the situation. give us your take on this. you run a financial services company in the uk. yours is a small, nimble online player. but when it comes to the big established institutions, it would seem established institutions, it would seem that women in financial services do not seem to get to the top. i was interested to see when reading is that it shows that over half of all employees, at all levels, are women. so more than 50%. which is quite interesting. and there are huge regional variations. the survey does explain that it is deficient in some areas because companies have to judge deficient in some areas because companies have tojudge who is senior and who is not. but in asia it

jamie dimon has two big statements.an exceptional country and it is clear something is wrong. he runs down the way the u.s. a stronger than before, but has a longer list of what he calls self-inflicted problems he calls up setting. dollars onillions of wars and rising debts of students. is celebrating its 10th anniversary this week by the coming the largest fixed income mutual fund. say they have $79.1 billion, surpassing other bond funds. investors added $3 billion in march, a monthly record according to bloomberg estimates. china has launched the world's largest container ship, which can carry 20,000 boxes. it left on its maiden voyage. will be in the new transport corridor which links southeast asia and europe. accommodate an ultra large container ship. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. yvonne: thank you, we are counting down to major market opens in asia-pacific today. let's get to our reporter from sydney this morning. i know

in a live blog in the jamie dimon letter was in the public policy clearly reflected jamie dimon's effortsn washington very entire focused on the united states. is the bank gets roughly a quarter of its revenue from outside the u.s. does that mean jpmorgan and the to. banks have less ability glean what's happening overseas than they do in the united states? mr. goldberg: no, just given that the vast majority of their revenues are in the u.s., if you read it, he talks about mexico and china in terms of what's going on about those countries, he also talks about how global financial reform needs to be more harmonized and not giving any have one country or one region unfair advantages. he also talks to expand both in the u.s. as well as overseas, adding corporate breaking offices in additional countries. brexit,we talk about it's and adjusting point as article 50 gets triggered. jamie dimon says while there may not be changes in the next couple of years, there are going to be changes that we for see happening moving people out. is that a risk, something that has to happen, or does it have a ma

morgan ceo jamie dimon has more on his mind that messaging apps.ll release his annual letter to shareholders this week. it has been a good 12 months for jpm, outperforming its peers and the s&p as a whole. note legally that you are a former jp morgan chase investment banker and lost an arbitration case over your dismissal and are now involved in litigation with j.p. morgan him of it nevertheless we have you on to talk about this. >> that's me. >> that is a mouthful. there is never a dull moment with you, bill. happyoff, is jamie dimon these days with trump in the white house and all this talk about deregulation? >> i don't think you could imagine -- you know i have been talking about a new golden age on wall street for several years now. i don't think you can get much better than this. first of all, let's look at the bank, the largest bank by assets in the country. it has number one market share in loans and close to number one in investment banking. it is unbelievably profitable, making $25 billion net income a year. its stock which for years had

david: we will be talking about jamie dimon, coming up.f donalds the eve trump's meeting with xi jinping. china to doants more to rein in the nuclear program in north korea and donald has raised the possibility of using them as a leverage to do that. we take a look at the complexity in the situation. a man on the frontlines of diplomacy, james stavridis. great to have him with us here on bloomberg television. it is great to speak with you general. you have gone to meetings like this before, meeting a counterpart for the first time, so how does the president approach this meeting that will take place later this week? doingope he is fundamental research and learned about chinese character and history. we talked a moment ago about the leader's bookshelf, one of the great books on it is the art of by annd and -- a book agent chinese strategists. he needs to look at the long-term view of china and if he does that i think he will have a better chance of being successful in these conversations. preparation is key, not only tactical issues, but al

jamie dimon.hat he was in the white house, the same day as theresa may. we found him ambling out of the white house. his letter felt very political. merged --efinitely a emerged as someone in the zeitgeist of washington right now. in the sense that he has taken over the business roundtable which is one of the most -- the mostguides influential groups in washington that represents several prominent business communities. lookingrged as someone to work with this white house on issues such as immigration as well as apprenticeships, which we did here yesterday at that ceo summit from the likes of former commerce secretary wilbur ross as well as gary cohn. assistant to the president, if uncle trump. -- ivanka trump. tom: it is quite a day since the inauguration. it is the single greatest economic crawl. gary shilling said forget about inflation and we will see disinflation and elements of outright deflation. without question, gary shilling writes a note, i am going to be blunt, we are not going to send

called out, the minneapolis fed president said jamie dimon is wrong.e will look at both sides of the argument. ♪ joe: let's look at where the major averages stand as we head towards the close. abigail doolittle is standing by. ongail: we have small gains the major averages heading into the close. the s&p 500 and dow a little higher. this does not tell the complete story. intraday volatility with stocks around even earlier in the morning, then 0.4%. the dow and nasdaq minutes ago, half an hour ago, briefly dipped lower, but the russell 2000, the small cash deposit, showed big volatility. it was mainly higher, the closing lower on the fomc minutes. it is now up higher, hanging onto its gains. intraday volatility does seem to be one of the themes for investors. this is a chart for investors to show that volatility we saw earlier. and then around the time secretary of state tillerson talked, we saw this down, now it is up 0.1%. not surprising with the nasdaq, the tech is one of the weaker sectors, amazon and facebook trading lower. the biggest, energy. we

face-off, in france in the u.s., tougher these are rules, and jamie dimon's letter to shareholders. >the bank is preparing for a hard brexit. >> we will find a way to improve and increase our commercial relations. >> jack lew speaks his mind and another exclusive. >> i think it would be a big mistake to do an expensive tax cut. >> where in the world you should put your money. soggyopean growth looks of the next 18 months. >> when the fed has taken the football the accelerator or slammed on the brakes, somebody has gone through the windshield. >> it is all next on "bloomberg best." ♪ hello and welcome. this is "bloomberg best." your weekly review of business news, analysis, and interviews from bloomberg television. let's look at the top headlines. political turmoil and south africa continue to undermine confidence and that nation's economy. zuma may face a confidence motion. the rand is lower. >> some top officials are speaking out against the cabinet reshuffle, saying he did not consult them, and speaking out against the firing of the former finance minister. critical as to whether th

apprenticeships so important, let's see if jamie dimon can get to work on that.ing up, bill gross joins michael mckee live from newport beach, california. why he believes stocks and other assets are priced at unrealistic levels. you can catch all of our interviews on bloomberg with the function tv . you can also find breaking news and charts. this is bloomberg. ♪ attention homeowners age sixty-two and older. one reverse mortgage has a great way for you to live a better retirement... it's called a reverse mortgage. call rfree information kityour with no obligation. it answers questions like... how a reverse mortgage works, how much you qualify for, the ways to receive your money and more. plus, when you call now, you'll get this magnifier with led light absolutely free! when you call the experts at one reverse mortgage today you'll learn the benefits of a government-insured reverse mortgage. it will eliminate your monthly mortgage payments and give you tax-free cash from the equity in your home... and here's the best part... you still own yohome. call now! tak

did you get that same level of optimism from dimon?e level of optimism. he was fielding questions about the credit cards, and the one clear take away in terms of encouragement in the face of slightly lower corporate loan growth was that their debt issuance to companies was very high. so that again highlights the difference with wells fargo who don't have that part of the business they can off set lower corporate loan growth with. and the jpmorgan cfo said you shouldn't draw that they're not optimisting, they are, but it showed up with high bond issuance in this quarter than in corporate loan growth. >> got it. thank you. for more on this morning's bank earnings which ones you should own, let's bring in george cassidy, banking analyst. and what signal did you get and are you surprised to see the shares soft price performance here amid some pretty good news. >> yes, no, in fact you're right. the opening for the bank stocks was very soft. they have turned mostly green and i think investors are recognizing one of big positives in the quart

we haven't gotten dimon since then. we want to hear what's happening in march, we want to hear what the outlook is. somebody will ask on the call, what's happening in 2q? management will say we are only a couple weeks into the quarter. that's what analysts will be focused on. alix: you mentioned the chart jobs of 1.7 million. -- charge-offs of 1.7 million. -- 1.7 billion. charles: we've been expecting down year-over-year credit card earnings at jpmorgan for the first half of the year. part of it is the reward costs they are having to absorb related to the contract renewals with their partners. the other is the rising loan loss provision. jon: the net interest margin up 11 basis points. , it is at the situation great passing on the higher rates to those you loan to. the deposit beta, when does that start to kick in? the margin was better than expected, but the net interest income was in line, which reflects the softer loan growth. going forward, they should expect to benefit again in the second quarter from the march rat

this letter from jamie dimon is in three parts.gan's business and regulatory reforms are in the first two sections. the last third of the 45 page letter is public policy in the u.s.. he says labor force participation is too low. some of his comments from the letter last year were really prescient and tended to bear out in the global economy. last year he warned about geopolitical risks. he says u.s. interest rates are more likely to rise than go negative. you can follow that on tliv. this is bloomberg. ♪ ♪ our globalme for battle of the charge. we are back to where regular program very -- our regular programming. we will kick things off your in new york with dani burger. >> i will treat this like it is always a tournament. i am looking at em. part of the mystery is why asset managers have a current high futures,luation to em which will be in this white line. let's look at what em has done. in blue we have the msci emerging markets benchmark. we had a low in 2016. it has slowly crept up. 11% gain so far this quarter. we have some tu

jpmorgan ceo jamie dimon weighs in on the debate of automation versus skilled workers.nd they realize president trump's program may help them. plus indian outsourcing company says india is still a bet for u.s. tech giants. we explain why. add cash crunch to the list of growing pains. we look at the chinese tech conglomerates long list of problems. first to our lead, the concerns continue over the sanctions on visa's guidelines. jpmorgan ceo jamie dimon weighed in on the debate of keeping highly skilled workers in the united states. in his annual letter to shareholders is that it is alarming that foreigners who obtained advanced degrees cannot stay stateside. he says "we are sending talent overseas by not allowing these young people to build their dreams here." these remarks come days after president trump made it harder. say the visa allows outsourcing companies to bring in lower paid foreign workers. but these changes might just might just help u.s. tech giants. we have an extensive researcher into the program. cory, first you. we should remind ourselves why there is s

jamie dimon's letter to shareholders. >> the bank is preparing for a hard brexit. >> the argentinianresident speaks about his country's relationship with the united states. >> we will find a way to improve and increase our commercial relations. >> jack lew speaks his mind in another exclusive. >> i think it will be a big mistake to do a big, expensive tax cut that is not paid for. >> where in the world you should put your money. >> european growth looks to be pretty soggy over the next 18 months. >> whenever the fed in the past has taken its foot off the accelerator or taken its foot off the brakes, somebody slams through the windshield. >> all ahead on "bloomberg best." ♪ hello and welcome, i am david gura. this is "bloomberg best," your weekly review of all of the most important business news, interviews, and analysis. let's take a day by day look at headlines. on political turmoil in south monday, africa undermined confidence in that nation's economy. >> president jacob zuma may face a no-confidence motion, the parliamentary speaker has asked for a request. the rand held low after

dimon's analysis. the biggest banks need twice as much equity capital as they have today. if we made the big banks fund themselves with twice as much equity capital we could more or less address too big to fail. we haven't done it yet. >> let's just break a couple things down for a second because the markets, as you've seen in terms of what the anticipation expectation is for the banking industry has been relatively positive in part because there's an expectation, at least for the smaller banks, that we might loosen up capital. just to put a fine point on it. when you talk about higher capitals are you talking about the nine largest banks in the united states or across the board? >> no, just our plan that we release a draft in november, it calls for substantially higher capital requirements for banks, $250 billion in assets and up. that's about a dozen banks in america. that we think should be more -- those are the too big to fail banks as we see it and we would want to relax regulations as you said on

saying jamie dimon is demonstrably wrong. dimon is rightys on point. there are problems in the u.s.conomy and growth is slowing. we have world coverage on daybreak asia. be joined by big-name guests at the finance ministers meeting. we will also be live in hong kong, and beijing. betty: president trump is meeting president xi jinping right now in the u.s. we will be live there and in new york for all the reaction. this is daybreak asia live from bloomberg's u.s. and asian headquarters, i am betty liu in new york where it is just after 7:00 p.m. >> it is just after 7:00 a.m. here in hong kong. man. man -- yvonne one wants to make america great again and one has a chinese dream. betty: they both want to make their countries great again. a big fight between these two coup leaders, the most important leaders for the global economy in the world. certainly a lot on the plate here. you can see that tension in the u.s. where investors were nervous. butid and mostly higher they're also nervous about the jobs report tomorrow and what those numbers will mean for the fed. we did not give you mu

they are selling to jpmorgan, so it's a little disingenuous for jamie dimon to be talking about this when he knows he is hiring these firms to undercut the u.s. market. but certainly some of the best and brightest are being brought in and paid fair wages. the question is, how do we monitor that and make sure all firms are doing it that way? targeting just outsourcing firms is the wrong way of making policy. users make it -- you should make it that no firm can pay cheap labor. see if making it more stringent when it easier for the likes of intel and microsoft to get the hands on the right sort of people going forward. associate professor at howard university, thank you for your time. cory johnson valued here as always. as we mentioned, jpmorgan ceo said-- ceo jamie dimon they spent with a $95 million on technology last year. -- $9.5 billion on technology. reporter: i want to bring up my notes for you. he did give is a breakdown on that $9.5 billion spent in 2016. he said something around $300 million for cap initiatives that techte with startups -- initiatives that compete with startu

bigy: jamie dimon has two statement in his annual letter.eptional country but it is clear something is wrong. he runs down the ways the u.s. a stronger than before but has a longer list of what he calls self-inflicted problems. some of those include the trillions of dollars don't in wars and the rising debt for students. a shift in tone for him there. tonef: there is a shift in but there is also a confirmation of some of his firm belief in the strength of the u.s. economy and ability to grow. also pointing out that excessive regulation. that is not entirely new, you can find out more on the bloomberg right now. guest,et back to our securities.ector at something is clearly wrong, that is a direct quote from jamie dimon's letter. you were like, you need to look at the data. really, i think what he is trying to say mainly is we cannot talk about the economy and continue the growth rates of 2% and 2.5% expectation. is that in some of the data coming now for example about weakening in car ines, which is a big factor the s&p performance, you see t

released a dimon letter today.writes "it is clear that something is wrong and it is holding us back. the lack of growth and opportunities have led to deep and understandable frustrations among so many americans. here to outline what else he highlighted in his letter is the banking and wall street reporter, laura keller. this is probably the second most anticipated annual letter from a ceo after buffett us -- buffett's every year. what is he talking about? what does he see out there that concerns him? buffett, this is a big thing. he writes about this roughly every year. one thing that is somatic throughout his pieces is that america is a great country to be in. we have a lot of things going for us but he says it pained him to write this and that there were problems going on. he listed everything from corporate taxes to too many regulations. he spent a lot of time talking about that. even things more arcane, like how mortgages are financed in the u.s.. >> of course, he has a special vantage point and all of this. he

. -- federal open reserve bank of indianapolis takes on jamie dimon over comments dimon had made over bank regulations. this is bloomberg. ♪ joe: the march u.s. jobs report suggests the labors market may be returning to a more sustainable rate of progress. bloomberg economic adviser gary cohn gave his testament of the jobs report to bloomberg's david westin. >> i had an opportunity to talk to the president. we are pretty please with the jobs numbers. when you look at the unemployment numbers going down, both the 4.7 number and down as well as the higher the -- number we spend a lot of time looking at the number coming down by 3/10 of a percent. we are pretty please with what is going on in the unemployment picture. you take that and put on top of jobs.ll the we talked to moving manufacturing back in the united states. we are excited about what is going on in the future here. number, is that perhaps one of the most important things you look at as you look at this report card every month the? >> the president and i have spent a lot of time talking about that number. the underemployed pe

one retailer he says is a dimon in the rough.'ll be right back. >>> back to the final trade, pete. >> jp on giddy upit's going high. >> i like the potential deal stocks time warner. >> xrt selling on rallies. >> tim. >> that is very quiet now. >> tiffanys, i think this is a retail name that can be decisionary going higher, keep the costs down. >> tiffany. >> they're exhausted with you, too. >> i'm melissa lee, thanks for watching. more "fast money". meantime, don't go anywhere, mad mon with tomorrow here at 5:00 for more "fast money." "mad money" with jim cramer starts now. >>> my mission is simple. to make you money, i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now. hey, i'm cramer, welcome to "mad money," welcome to cramerica. some want to make friends, i just want to help you make money. call me at 1-800-741-cnbc, tweet me @cramer. valuation is in the

dimon, there are no scheduled flights to new york. in chicago, when i go to chicago, they did not believe i was going to move here. are you moving here? are your kids going to school here? yes, i am really here. i'm staying here. when i was in chicago i said, if i die, if i spent my whole life and to die in chicago and they ship my ashes back to new york, they would say, i told you. [laughter] jamie: i did not know. i remember the banking industry was still kind of consolidating, so i knew if i did a good job, i would probably be part of that. i did not know i would be an acquirer, building up a bigger regional bank or be an acquirer. it is not up to me. it is also up to a board of directors. to me you make a company as good as you can, and it creates all the opportunities you have. david: would you say right now that the u.s. economy is in reasonable shape? jamie: america has the best hand ever dealt of any country on this planet today, ever. ♪ ♪ david: what would you advise to get the economy growing at a better clip? jamie: so ther

when jamie dimon speaks, wall street listens. he discussed his letter in a town hall event, what he said about the state of the economy coming. >> 11 things wrong with america, he lists them out. lower stocks, republicans renew talks on how to replace obamacare. hear from the ceo of molina health care, one of the companies that could be at risk. >>> the white house appears to take the lead on the push for tax reform now, but will a border adjustment tax be in the bill? hear from the house ways and means committee chair, kevin brady, a key proponent of the tax. that's a first on cnbc interview a little bit later in the program here. >> but we again with a trump administration's reported exploration of two controversial new taxes, eamon has the latest from the white house. >> yeah, hi, kelly. this was a story broken by the washington post hours ago earlier this afternoonment i talked to the white house official. they are not disputing the washington post reporting here. here's what we know from their reporting under consideration i

as you listen to jamie dimon, something is clearly wrong. you are telling me the same thing, moments ago. you are like, look at the data and numbers. when it comes to the numbers. >> i have seen some of the extracts of what he said. i think really, what he is trying to say mainly, we cannot talk about a booming u.s. .conomy t why aren't we going higher than that? some of the data about weakening in car sales, which is a big factor sometimes related to the s&p performance, you see the consumer, u.s. consumer overstressed in terms of credit now that we have stretched in too much -- him too much. the other thing i think you talked about, he prepared some of the people for a hard brexit. they are talking about moving people there to a place like ireland. talking about the economy, nt banking, they are going to be changes in the next two years which is trying to prepare people for. yousef: coming up come the leaders of the two biggest economies to talk trade. -- coming up, the leaders of the two biggest economies meet to talk trade. this is bloom

when jamie dimon speaks, wall street listens.his letter in a town hall event, what he said about the state of the economy coming. >> 11 things wrong with america, he lists them out.

. -- slams jamie dimon about regulatory burdens. we will bring you more from his interview from earlier. and a check on the markets with abigail doolittle. one question would be if the major averages hang onto the very small day. unchanged, investors trying to digest what that weaker non-form payrolls report means. though syrian missile attacks are surely helping the defense you we have all the defense contractors trading sharply. on aoments ago, i was told phone call that he believes this is a visceral reaction unless it really helps it profit outlook -- profit outlook for these companies. perhaps a missile attack could his president trump gain request in defense spending. that would hit the bottom line of these companies. one stock trading sharply higher on an upgrade, walmart. we have shares of walmart trading higher by 1.5%. this is a two dave you. upgraded shares to outperform, saying there are four factors in place, especially and including the company's big move into the grocery space, but not all retail doing so well. on tha

baby that is something jamie dimon will be talking about today. -- maybe that is something jamie dimonuch, laura keller and gina martin adams. i want to re-at a rate from staying --w jones saying staples is in talks with eye out firms. -- buyout firms. they will close 70 stores in north america in 2017. staples in a transition to sell business services and connect with consumers and businesses online. potential he somebody trying to come in and take advantage of that, we will be tracking that closely. if you have a bloomberg terminal, check out tv . interact with us directly. you can talk to us during segments. this is bloomberg. ♪ ♪ looking at the dow off 17 points, the s&p off three. u.s. equities are a safety play. geoffrey yu spoke about that earlier in the program. >> i would probably like treasuries and the s&p into the same category as a clause i save haven, because if you look at , it is one elsewhere of the conversations with clients to say you need to be invested. you need to move out of cash given the reflation wave globally is still happening but it seems people are mor

he says dimon is wrong about both of those.e questions why jpmorgan bought back $25 million in stock. we've in the seen kashkari take on the background of this. since kashkari came in office in 2015, he first spent time to create a plan for ending too big to fail and came up with one that essentially calls for doubling capital standards, something that's really not accepted by conventional wisdom. kashkari's out there and kind of taking on jamie dimon on this issue of whether we have indeed ended too big to fail. >> we've had him on. he's very smart. but he also ran for office. every time i see this kind of thing, i wonder if this is a guy who's actually trying to pave the way for some other future job. i know you can't comment on that. >> no, i can comment it. i wonder what job being too big to fail would -- >> being anti-bank? >> i'm not sure that people are going to vote for the guy who is the big champion on too big to fail. maybe. >> former goldman guy goes after jpm's ceo. >> that's one way to think about it. kne neel kas

jamie dimon makes money. bring up the chart, get with it. jamie dimon makes money up at the top.ld he make money here? komal: if it were to flatten, the banks would not make money. i think that is where the change will take place in the banking sector. so they do need a steepening yield curve and it was expected. and it was supposed to come. if health care is going to take they're all being set back and i think that is being deflected in equity prices. overall in the banking sector. help me with what bill says. retirees neighbors will not get ahead given inflation? komal: that is because they don't have much interest income. the question is, will this continue to support them in the medium term? that is where the risk lies. in a lothere has been of exuberance in the equity market. is with ussri kumar ad andrew lo will join us in moment. we can check out the markets. markets are on the move. the vix is 16.27, elevated after he difficult thursday. look at the yen, that is a wow statistic. the safe haven. this is bloomberg. ♪ did you know slow internet can actually hold your busines

why do we care what jamie dimon says? it is the country's largest lender. a member of the presidents strategic and policy forum. he has a lot to say. we are still going through and figure out what is most important. vonnie: thank you again. up your .1%. reeling from declining sales and cost margins. this is bloomberg. ♪ ♪ vonnie: this is "bloomberg markets." is part of a three and $70 million company shakeup. the legendary retailer will set its fifthown avenue flagship. for more on retailers, i want to bring in shelly banjo. it is not just ralph lauren. we just had the j.crew resignation as well. our retailers fighting a battle they cannot win? >> there is a big shakeup going on. retailers are struggling to get people into their stores to keep shopping. you are seeing this shakeup going with executives coming in and out. you will continue to see this throughout the year. vonnie: what is ralph lauren doing sister t -- strategically? >> it is a present the stock is down. -- surprising the stock is down. wall street tends to be excited about store closings. it

we will speak what he thinks is key for jamie dimon. the jpmorgan ceo would be more outspoken on behalf of wall street, one of the few voices that is really listened to. haidi: that is right. we will be touching more when it comes to japan with the regulators, with japan data from the finance ministry. this not to be just more positive but also more widespread recovery, smaller sized business and also across the services sector as well. we will get more analysis. that is it for daybreak australia. we will get all of the action with yvonne and ♪ yvonne: no rush on rates, the new york fed president says the economy is not overheating comes to further hikes can be gradual. the pboc tightens rates, the worst ever quarter for corporate bond defaults. mind your language, white and corrected messaging apps are becoming a headache for wall street. -- why encrypted messaging apps are becoming a headache for wall street. we have the world covered here on

on that issue, jamie dimon said growth could accelerate if some of these things d. -- diamond.ions. donald trump has pledged that he will look to reform, but nothing has been done, yet. other concerns —— are their concerns about what it could happen down the road? there are certain issues that banks care about, but broadly speaking, you think about these big wall street firms. —— there. they have spent years in lamenting the rules that were involved in dodd—frank, the legislation passed in the financial crisis. given how much was spent on that, it will be interesting to see how many of the things they want reverse. how many things they want reverse. how many things they want reverse. how many things they think are detrimental to business. obviously, as you know, we have a goldman sachs ally in the white house. they also have steven mnuchin, who is now the treasury century. —— secretary. we'll have to wait and see what engages us have —— what indications this has. less known was another company which benefited when it citigroup and jp morgan did. but it had a 35% drop in the ope

saying jamie dimon is demonstrably wrong. dimon is rightys on point. there are

dimon said he received a lot of complaints for joining the president's ceo advisory council.e of the top bankers at the federal reserve stepping down. jeffrey lacker was a top official and has been the president of the federal bank of richmond for 13 years. we quoted him many times. he resigned after admitting he shared confidential information with a financial firm, a private financial firm back in 2012. he's been questioned by several law enforcement agencies but no charges are expected. very rare to see this kind of a scandal at a fed bank. he apologized in a statement issued by his lawyer. >>> meanwhile senate majority leader mitch mcconnell starting the clock on the nuclear option. the showdown over supreme court nomination neal gorsuch. democrats have 14 votes they need to filibuster or block a full vote on the gorsuch nomination. senator mcconnell has now skaed vote for thursday to test that filibuster. if democrats hold the line mcconnell plans to delayer filibuster of supreme court's nominees can be stopped with 51 votes instead of 60. >> the majority of the senate s

i asked jamie dimon if he was nervous ahead of the french election.election. he did say he had a personal view on it but wasn't going to share it. then he reiterated a point he made, separated it from the french election to say if someone did leave the economic and monitoring union,orio, it would be a very, very complicated and dangerous this evening. he separated from specifically the french election. in terms of the wells farg report, maggie lake said they've been going through it and briefing people accordingly and will internalal ease all the results of that wells fargo review. jamie dimon was asked if he had a response of kashkari's criticism and he said no comment on that. interesting to hear january was strong, february was relatively weak, which was why their guidance was softer, hence they beat it when march came through stronger. a little bit of a seesaw session in the quarter for investment bank. debt call tap was particularly strong in march. that does explain some of the weaks in in corporate loan growth, raising funds from a bombed. econ

we also got jamie dimon's annual shareholder letter, comments from him and brian moynihan yesterday.he overall takeaway going into the detailed weeds of it all was positive, more friendly business environment to come. in terms of deregulation comments, specifically in jamie dimon's letter, in washington there was a couple of specific points that he made. both of those he seemed to suggest didn't need laws to go through congress to be achieved. that's something you have to keep -- >> they could all come through the administration? executive branch? >> in appointments and regulation tone from the top of the regulators as opposed to needing a bill to roll back dodd-frank which is never what these ceos are arguing for. >>> moving on to an abrupt resignation at the federal reserve. jeffrey lacker stepping down over an involvement of a leak of information. landon has that story. >> that's right. richmond fed president jeffrey lacker announcing his resignation yesterday effective immediately saying he broke fed rules by discussing sensitive information with an analyst regarding the central

jamie dimon later.o quite a lot of commentary to come today. >> looking forward to that jamie dimon investor letter later on to see his views on what's happening in the markets. >> always something to watch. i would say up there with the warren buffett annual letter. people focus on this for the sector. it's due at around 11:30 a.m. >> you might get a bit beforehand. >>> on capitol hill, the senate is setting itself up on a collision course. democrats assembled enough votes to filibuster the supreme court nomination of judge neil gorsuch. the question is whether or not republicans follow through on plans for the so-called nuclear option. the move is a last resort that involves changing the senate rules so that a nominee can be confirmed with a simple majority of 51 votes instead of 60 votes required. if you change the rules for one candidate? what about the future for future candidates? >> it's a big political talking point. i think it's less important for markets. clearly the appointment of a supreme c

jamie dimon says when you get on the airplane you better root for the success of the pilot.triot. i'll do what i can to help the united states of america that includes helping whoever is president. dimon received a lot of complaints for joining the president's ceo advisory council. >> to the notion record bank profits despite dodd-frank have those regulations taken hold yet? >> some have, some haven't. what you hear from banks they have a chilling effect on banks and lending. the president has -- he's rolling back all kinds of regulations. >> they are still planning for those regulations not necessarily implementing them. >>> senator majority leader mitch mcconnell starting the clock on the nuclear option on the showdown over supreme court nomination neal gorsuch. democrats have 41 votes to filibuster or block a full vote. senator mcconnell skaed vote on thursday to test that filibuster if democrats hold the line. mcconnell plans to delayer filibusters of supreme court nominees can be stopped with 51 votes instead of 60. >> mcconnell needs a majority of the senate's support.

to become the second in command at a high-profile business lobby group chaired by jpmorgan's jamie dimonr this hour, an interview with lisa jackson. she is the vice president of apple's environment, policy, and social initiatives, also former head of the environmental protection agency.

i know jamie dimon and i like him and respect him.hings that are incorrect i think it is our responsibility to speak out. the fact is too big to fail has not been solved. the biggest banks are still too big to fail. offered them potential solutions in the form of substantially higher capital requirements. >> wells fargo shareholders are being urged by institutional shareholder services to break up. investors were told to vote for just three yield votes. it says the board failed to and sufficient risk oversight the may reduce the damage to customers. calling the recommendations extreme. that is your latest bloomberg business flash. testing startup has cleared a major hurdle with the fda. greenlight given the to sell his gene testing kit to consumers, becoming the first and only company to provide such reports without a description. the turnaround which imposed a moratorium on these types of home testing kits, caroline hyde joins us from san francisco for more. have a wonderful interview with the ceo and cofounder of 23 and me. congratu

jamie dimon who previously scheduled business to africa and elon musk is not here.nd of course uber quit the forum because of the outrage from his customer base in the bay area over this. >> i stand corrected. some do not show up. thank you, kayla. appreciate it. >>> let's get to bill george standing by. former ceo. what do you think when you see this videotape roll by with ceos who have been there repeatedly? >> these are the best of the best. the president is obviously very comfortable with this group. i'm glad he's listening to them and bringing the right cabinet officers to bear and they can sit down and have honest discussions about how to build the country and how to build jobs and create high paying jobs. this is a move in the right direction. his comments on regulations were moderated over what he said. we don't want to throw out dodd/frank. we want to take out onus provisions and get country growing. only going to be done with a global approach. every single person in that room is a globalist. you talk to mary barra. she sells more cars in japan than in the

so, listen, if he does this, you watch jamie dimon run to capitol hill.re not going there yet, initial calls to the trump white house, this ain't even on the docket. we have other things to worry about. liz: charlie, thank you. syria, north korea, tax reform. >> you understand. liz: charlesly, breaking it right here. closing bell, we're 17 minutes away. -- 16 minutes away. but struggling. president trump on the ground in palm beach florida. he should be arriving soon to mar-a-lago to make history when meets face-to-face with chinese president xi xinping for the first time. could it be the start of a beautiful relationship? , or are we headed for more clashes economically and militarily. richard haass, president of council on foreign relations. he is standing by. he will tell you the biggest challenges that donald trump and xi xinping face in the relationship between the two biggest economies in the world. "countdown" coming right back. before i had the shooting, burning of diabetic nerve pain these feet... kicked off a lot of high school games... ...built

jamie dimon who sits on donald trump's business forum aimed at boosting job growth is voicing support for parts of the president agenda. the on security council will hold an emergency session today after an apparent chemical tilt 68attack in syria people. western leaders have reported the use of gas on a town blaming forces loyal to damascus. president trump call the reprehensible and said it cannot be ignored by the civilized world. state media said the gas came from a rebel factory. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. guy and matt. guy: let's focus on france about debate gave a platform for all 11 presidential hopefuls but a loud room for fiery exchanges between the two favorites. economicd an patriotism. we need for our business is to have an advantage in the opening of our public contract. that is true for businesses, for our industry. it is true for agriculture. we need protectionism because we cannot accept that our reduction be put in competition with products that do not respect the same

jamie dimon, who sits on donald trump's business board, is andwned for his optimism has voiced his supportor parts of the president's agenda. the un security council will hold an session today after an apparent chemical weapons attack in syria that killed at least 58 people. western leaders have condemned the reported use of asp on a town, claiming -- blaming forces loyal to damascus. trump called it reprehensible and said it cannot be ignored by the civilized world. global news, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. find more stories on the bloomberg at top . marketst's check on the in asia. juliette: it has been an interesting day. the hang seng coming up as it resumed after yesterday's holiday. 300, part of csi the reason for the highs if we check out the stocks moving in the region is the ongoing talk of building in one province that will provide a new economic start. let's look at some of the stocks in the region. bbfg of after the h shares rose by 35% on monday. they are quite strong in hong kong today as well. han high is