dollar has seen better days and i think u.s. dollar germany is past its sell by date as well i think that trade is over i think the euro has a lot of problems if you look at you know what currency what is a currency first of all a currency is a store of value right it's a promise of a government to repay people eventually are going to realize with the united states issuing even more debt you know historic amounts of debt debt debt that the dollar has to go down because we can never repay the debt that we have which i explain and plan a ponzi we have two hundred fifty or two hundred sixty trillion dollars in debt when you include all the obligations that we have in terms of social welfare in title new programs medicare medicaid and it just keeps going up and up and up and eventually you know the dollar's going to go down and down and down and so are the other currencies because people are going to realize they're worthless and you know you get the people the talking heads that come on your your mainstream fake news media that wil

dollars that's the frigates. eight hundred eighty nine million sixty three million that's for various artillery some of the things that we're now working on next. and that have been ordered and will shortly be started in construction and delivery to add system thirteen billion dollars. the c one thirty howling. airplane into the hercules great plane three point eight billion dollars. the bradley vehicles that's the tanks one point two billion dollars and the p eight poseidon is one point four billion dollars and what it does is it really means that many many jobs we're talking about over forty thousand jobs in the united states that would make the best equipment in the world there's nobody even close to saudi arabia is buying a lot of this equipment and a lot of people are at work making the equipment not only for us because we as you know we were getting a seven hundred billion dollar military proposal and that's even a lot of you guys but we're getting a seven hundred billion dollars military plan this year and

dollar. 10 year yield pretty much know where. we had some selling and now some buying. also not really going anywhere. i wonder what the market is waiting for at this point as we die dressed -- as we digest more out of d.c. david: larry kudlow. this is what is coming up today. we will get economic data, including jobless claims and import and export prices. at 10:45, president trump will meet with the irish prime minister and after the bell, broadcom will be announcing its 2018 first-quarter earnings. alix: no pressure. 48 hours after qualcomm is not going to happen. kudlow's dollar policy trading the dodd-frankd rollback. what areas have we seen change? david: we welcome rachel evans, bloomberg cross asset reporter and we want to start out with larry kudlow. let's put up a full screen quote, he didn't waste any time to tell us what he thinks should be going on. "a great country needs a strong currency. i have reason to believe president trump doesn't favor a sound and strong and steady dolla

thirty million dollars nothing. well we're going to talk about some other sort of moments of chutzpah that have since come on ravelled because a lot of donald trump's unravels quickly he says one thing and then he does another well jamie diamond also says one thing in does another these are new york you've got a chorus you know it's notion maggie. here's the headline from the past week and that is j.p. morgan chase admits cryptocurrency is a risk to its business for the first time despite j.p. morgan chase c.e.o. jamie diamond having called big queen a fraud the big bank is now taking crypto currency very seriously and knowledge in the block chain based technology as a veritable threat to its future yeah i must really hate to have to say this there the way it works is that if a company like j.p. morgan or there's another bank that made a similar comment their big bank and when they find a material risk to their business to their balance sheet they must under law disclose this to shareholders and so jamie diamond the

dollar. new york times says robert mueller's team subpoenaed the trump organization for business records, including some related to russia. the president's company told the associated press the story is old news, and they have been fully cooperative with the mueller organization. they sanctioned several businesses. mueller indicted them for meddling in the election. is jumping in late trade after the former chairman is seeking funding for a buyout. has approached several investors, including softbank. they say jacobs informed the board about his plans. the news comes after trump blocked broadcom's bid for qualcomm. they paid 59% less on average and then their male colleagues, the widest gender gap. it is also three times the national average. the gap will widen to 60% this year. employees250 u.k. have to disclose their gender pay gap's. a new pedestrian walkway collapsed onto a major road at florida international university. emergency services say at least eight vehicles were crushed under sl

three billion dollars five hundred thirty three million dollars five hundred twenty five million dollars that's peanuts for you. alan fisher is live for us at the white house in washington while allan we we knew the two men were going to sign business deals and arms deals and now we kind of know the exact amount of pretty much each one. well these were all agreed when donald trump was in saudi arabia and many came back in saying look it was a great trip he liked the way that they treated him he thought he'd established a connection particularly with the crown prince and it's odd that in the oval office that donald trump would take this approach but this is really playing to the domestic audience he's saying look we're friends with soda arabia and this is why we're friends with saudi arabia we're friends with them because they're spending millions and millions of dollars on our arms industry and that is creating jobs for walkers for our people and while he's doing this just across time in the senate they're debating how the united states gets involved in various conflicts around the world

front and center at the moment, it seems to be dollar and dollar weakness. twin deficit story, a phrase we started using in the 1980's, it seems to be back. cutting taxes, increasing spending. cycle, itint in the is unfriendly for the dollar. despite the rate dynamic, it is dominating. jonathan: not just the fundamentals about emerging markets, the strong come position of the index is weighted more toward tech now. financials are looking better. but dollar weakness seems to be the cushion for em. guy: the dollar is the one factor model in the financial universe. dollar weakness means potential for the fed to act more aggressively, it means potential existence of and ian outperformance. of an em outperformance. jonathan: time for the rapidfire round. we want to look at the last week and some of this week. begin with a couple of questions. the first one, is reflation euphoria seasonal or different this time? guy: no, a feature of slower population growth. r.j.: i disagree, i think reflation is happening but it will reflate to a lower level than history and not

dollar bonds.ey are clearly going to be absent for the next 12, maybe even 24 months for the most part. also, when you see some of the other sectors that are more forward focused on the buyback arena and the debt maturity schedules coming up, i think issuance generally speaking with -- will be a good 5% to 10% lower in 2018 than it was in that is not a message move. 2017. demand is still there. what will concern me is when we get that maybe $2 billion, not a massive deal -- that price is basically on the screws with no concessions versus outstanding debt and trades wider weaker in , the secondary market. that will be the signal that this relatively open capital market situation is closing down. jonathan: rj, the moment you don't see much weakness holding credit, despite the fact that we are seeing a pickup in treasury yields and projections from diana about four hikes from the fed, the credit is still pretty decent. people are not pivoting away from high-yielding assets to the safer treasury market

trillion dollars. yeah well you know the g.d.p. of america is not anywhere near twenty one trillion dollars you've got a country now where the debt is well above g.d.p. it's as a function the assets on the books of the central bank four or five times bigger than the central bank it's way out of control the other way they can manage just to keep interest rates artificially low and of course that creates the wealth and income gaps that result in san francisco where you've got billionaires and it's our first home most people shooting up smack on the streets that's a direct result of the federal reserve bank policies to keep insolvent banks zombie banks like j.p. morgan goldman sachs from having to declare bankruptcy and a result of social unrest results in all kinds of manner of destitution think central banks you pots if the crypto billionaires if the crypto economy if all those young guys like china think and solace from the last episode. they make this the sort of switzerland of the crypto global econo

dollar, new zealand dollar, and the canadian dollar. he is looking at order of magnitude moves between 2% and 5%. he is not talking about 5% or 10% moves over the next few months. these are small moves but clearly big enough for a trader like him to make significant money if this plays out, or if the trade war continues to eat into the risk appetite that you would typically associate with those kinds of commodity currencies. it is an interesting play, he has had a good bet on treasuries in this route that began back in september last year that picked up through two january. -- through two january. we will see as the commodities come up a little more, betty? betty: adam, thank you so much. the fed is expected to make two more rate hikes this year, but you would never know it looking at the bond market in the u.s.. the 10 year yield rally below 2.8%. again. the yield curve is signaling we could see a recession, a slowdown in the economy, who knows. kathleen hays is sorting this out. what do we read in the curve? >> you can't ignore it. yo

dollar and e.u. euro are the most fungible global currencies used in daily commerce but the move by the chinese is seen as an effort to move their currency into more mainstream financial uses and gold prices have risen for four consecutive days marking the highest price in five weeks and that trading around thirteen hundred dollars at the comix the commodity exchange in new york here discuss all of this and more is chris martenson the c.e.o. and co-founder of peak prosperity dot com chris welcome and thanks again for being with us lots to get to today first to you on back to oil futures contract is this is an initial effort to get the yuan into more global commerce chris. well absolutely it is this is china stepping up and wanting to be and deserving to be a really dominant player financially they've been putting this oil denominated contract for a long time it's been in the works they had a sort of a board of attempt at it a few years back they that pretty sure they were very careful this time got i

hundreds of millions of dollars worth of aid education investments and a chinese t.v. channel for the african audience beijing is going all in here it's soft power strategy has already made china second most popular destination for african students and its military is in africa to last year china opened its first overseas base with a facility in djibouti the same year it held joint drills with tanzania chinese soldiers have already been here for a few years it's peacekeepers have been involved in missions across central africa so is it really that much of a surprise that some african nations prefer the chinese way over america's sweet talk the chinese has been front and center in providing us with roots this country . developed op to mock you pass it in this regard so we're working very hard to go over and we believe that walking to gether would bring about much will be beneficial relationship china has become successful in africa because china tends to favor and tends to stress civilian projects some years ago the first president bush certainly states had more will th

dollar has shed about fifteen percent of its value the weak dollar makes u.s. products cheaper and therefore more competitive on international markets now experts say the weak dollar is the key reason behind the strengthening of the euro the common european currency is currently worth around a dollar twenty four the most it's been for about three years and that's bad for european companies who want to export making their goods more expensive for more on this subject let's bring in creg erling he's a senior market analyst at a lot of currency traders welcome to the program greg that lower dollar that we're seeing here is that official part of u.s. trade policy or is it just an accident. i don't think it's an official part of u.s. trade policy i think the race gains to be had from having we could see which we've seen a number of different countries adopt the past few years in particular it boosts exports which is a key fact they have especially when you're looking at a country like the u.s. where their exports of money five to products isn't exactly the strongest

dollar and e.u. euro are the most fungible global currencies used in daily commerce but the move by the chinese is seen as an effort to move their currency into more mainstream financial uses and gold prices have risen for four consecutive days marking the highest price in five weeks and that trading around thirteen hundred dollars at the comix the commodity exchange in new york here discuss all of this and more is chris martenson the c.e.o. and co-founder of peak prosperity dot com chris welcome and thanks again for being with us lots to get to today first to you on back to oil futures contract is this is an initial effort to get the yuan into more global commerce chris. well absolutely it is this is china stepping up and wanting to be and deserving to be a really dominant player financially they've been putting this oil denominated contract for a long time it's been in the works they had a sort of a board of attempt at it a few years back they that pretty sure they were very careful this time got i

front and center at the moment, it seems to be dollar and dollar weakness. the twin deficit story, a phrase we started using in the 1980's, it seems to be back. you are cutting taxes, you are increasing spending. at this point in the economic cycle, it is unfriendly for the dollar. despite the rate dynamic, it is dominating to some degree. jonathan: not just the fundamentals about emerging markets, the strong composition of the overall index, now waited towards tech and less against commodities. but dollar weakness seems to be the cushion for em. guy: the dollar is the one factor model in the financial universe. dollar weakness means higher rates, dollar weakness means potential for the fed to act more aggressively, it means potential existence of an em outperformance. that is the one model factor of the universe right now. jonathan: time for the rapidfire round. we want to look at the last week and sum up this week. i will begin with a couple of questions. the first one, is reflation euphoria seasonal or is it different this time? guy: no, a feature of slow

admitted to giving millions of dollars to the nationalist party to finance to complain about young. president from two thousand and eleven to two thousand and sixteen. if you only guess on google must sell every. illegal. you do in the days. when you. were a group doing. cheek want to please you can three million dollars and complain but at the city's company supported the left not only to promote other branches centrist in peru but to curry favor with loyalist workers party in brazil you know what i'd wish she were imperiously key to the medical. presidential skit forcing. the ms million people each his money and. economic are here present allegedly. above is correct and if there. was a being will of the people political will for their own the you elect to see and to learn to see the. sort of the that they hear hear hopefully the. un at the end. zone with. the us it's only here though it was going to see a lot of people. both on his wife and i mean it area was general secretary of the nationalist party are now in prison awaiting trial. conservative opposition leader . and her popul

trillion dollars. yeah well you know the g.d.p. of america is not anywhere near twenty one trillion dollars you've got a country now where the debt is well above g.d.p. it's as a function the assets on the books of the central bank four or five times bigger than the central bank it's way out of control the other way they can manage just to keep interest rates artificially low and of course that creates the wealth and income gaps that result.

airlines from a single ticket sale last year it was only seventeen dollars and seventy five cents and that's actually down from four years for your average of one thousand dollars and sixty five cents gary what's going on we've got a couple things that are happening first of all airfares have been continuing their long term downward trend so revenue is down slightly and at the same time costs are up first of all fuel prices are a huge portion of the expense of an airline and fuel will certainly lower than it was five years ago is higher than it was in two thousand and fifteen sixteen so you've got my higher fuel expense and as airlines have been profitable in the last few years you've seen their labor expense rise too so they've got higher costs and revenues been under pressure as a result the profitability of the carriers other certainly continue to be profitable but their margins have been shrinking you know i when i saw these numbers which i a little bear if they hadn't seen them before i was a little surprised i thought they were making way more than you know seventeen eighteen do

these four hundred forty seven a little over thirty billion dollars for the department of energy wonder if anyone would notice. any change. i found i found the. president from one to no wait a minute section says defense can spend what funds it's time to enhance the border security of jordan lebanon egypt and. nine hundred sixty one million dollars to destroy chemical weapons he wasn't exactly convinced the government paid billions to develop weapons we now find contention related to the issues of immigration democrats wanted protection for the docket kids these are people who entered the united states illegally under the age of eighteen trump wanted twenty five billion dollars to fund his notorious border wall at the end of the day and nobody got what they wanted the docket kids weren't even mention anywhere in the bill. meanwhile trump got a mere one point six billion dollars for his border wall that's supposed to be nearly two thousand miles long so the federal government is not shutting down they'll be free to keep spending americans money despite the fact that we're already twenty

dollar and china.let's start with hikes because larry kudlow, cnbc contributor, played many roles on wall street. , to fightnamed donald trump -- tweeted by donald trump, the replacement of gary cohn. here he is talking about rate hikes. the market is going to take care of itself. and i hope the fed does not overdo it, and it seems like a mild warning to me. people think the economy does it need so many rate hikes. july, he was urging former fed chair janet yellen to show restraint and raising rates and in the past he said the feds inflation models are not working. and i don'te those, find it to be particularly aggressive towards the fed. let me tell you more about larry kudlow. staffrted his career as a economist at the new york fed chief economist at the office of management and budget under ronald reagan, involved in tax cuts. he has held tax cuts are good for growth won't overheat the economy is . talks about the groping signals for central bankers. as a cnbc contributor that is how i got to know h

dollar equivalent six dollars and ninety two cents per hour this was the largest pay hike since two thousand and it's already having a real positive effect on four point six million south koreans who represent about a quarter of the nation's workforce but mr j.n. is also urging the wages go even higher by twenty twenty now small and medium sized businesses in the country are bucking saying that they will need to lay off workers if it continues a representative a business a business association said the increases are becoming unbearable and a study has shown that ninety nine percent or ninety percent rather of businesses say they may need to cut workers from payrolls altogether. top military officials in saudi arabia have been replaced in the country's continuing shake up king mohammed bin solomon m.b.'s has appointed a new military chief of staff and commanders for land and sea forces in an effort to reshape his military last year hundreds of business in saudi officials and princes and saudi officials were rounded up as part of an anti-corruption effort and held in the ritz carlton hotel whi

gary him injure nineteen point seven million dollars that's nine hundred thirty five times more than its median worker although this sounds like a lot of money and there's quite a huge gap hemminger came up short of making the top one hundred highest pete c.e.o.'s and the nation was even more alarming as marathon petroleum c.e.o. doesn't have the highest c.e.o. to worker pay ratio. according to the progressive think take the institute for policy studies at found that eighty percent of del monte is employees working coast to recover what a model lot kenya and the philippines than median pay for company employees is only five thousand eight hundred dollars a year according to money magazine delmonte c.e.o. made a one thousand four hundred and sixty five times more than the company's median worker some people would consider the c.e.o. to median employee pay ratio to be insane and however these reports are only the beginning of what to come as a pertains to earning transparency starting this year publicly traded firms will be required to share their median employee pay along with c.e.o.

dollar. we are flat on the bloomberg dollar index. our ground above $65 a barrel on wti. inventories in america dropped for the first time in a month and that push the oil price higher. let's dwell on what we heard from the fed. matt: i do want to talk throughout the program about the oil price because it is interesting to see what happened to inventories. let's take a look at the dot plot. click on the previous tap which is the blue see in the middle, come back to my screen, you can see the old dot plot h ere in the blinking line as i click on the line as opposed to the new dot plot in green. can see what was previously planned. anna: we will have a pack to show. we are going to talk more about the federal reserve and the oil price but we will talk to this european vicehe 7:00dent joining us at a.m. u.k. time. here's juliette saly. donald trump is overncing tariffs intellectual property violations. the administration is considering targeting more than 100 different types of chinese goods cre

morgan you print dollars this is the most money is created by issuing dollar yes and that was not a crisis over higher yet so you know they can put all the money they want and still will keep skyrocketing so i mean this is the era of silver and gold now in the we're leaving the era of the u.s. dollar is rolled out here being that could be this is an opinion we are offering and another opinion i will offer in the last few seconds here is that it will be interesting post these regulatory find some posed on certain banks who were found to have indeed been many bin laden silver futures in particular so it'll be interesting to see with that if they're not able to do that so easy. and they've moved on to manipulating the vix whether or not it's me yeah exactly so it's a movable feast when it comes to fraud on wall street yeah well all be having a lot more to talk about after the break so don't go away. i would still like to be for this because everyone in it for the sake of peace and stability that with it's the russians or the americans or the pakistanis or the indians or the month by and large

dollar.y bowls around, are there. under pressure for the last 12 months. we have had a bit of a bounce and it is bringing back the argument of why you would want to be along the u.s. dollar. it comes down to the changing growth outlook and a lot of money that is going into the euro around the idea of strengthening a recovery in europe. that is very much taking place. some arguments we are hearing, they are making the argument swinging back in favor of the u.s.. that european recovery is back a little bit in the u.s. and they are picking up. it is all about the rate of change for economic growth. that is what will really affect the currency fundamental. we could see a little more of these bulls coming out now. 3896 shows the extent of how scarce these bullish positions have been. a lot of that speculates short money that has been betting on for the declines on the greenback. the bulls are holding out. get the more we accelerated pace of tightening signals. the fed at have meeting, it is probab

dollar. francine: we're seeing movement on the dollar. let's look at yen. and the bloomberg first world news. reporter: the u.s. senate has given the banking industry its best chance and years of rolling back rules and codes after the financial crisis. lawmakers passed legislation easing constraints on community banks while mostly snubbing wall street. canada's prime minister justin trudeau says he is willing to speed up nafta talks if needed. he is optimistic there will be a win win win deal on the trade agreement. president trump has repeatedly called out canada for being unfair with the u.s. on trade. theresa may is waiting for russia to retaliate. russianlled 23 diplomats in response to the poisoning of a former spy and his daughter on a foreign soil. a statement from the kremlin suggested it would go further. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. leinz, ♪ley this is bloomberg.. tom: let's get right to it. futures up fra

the dollar point, the legacy of qe was dollar weakness. i think it is a real risk with tax policy.e, we could see dollar appreciation doing heavy lifting for the fed. finally, the dollar has been going nowhere fast. i'm going to come back to you on that. last trading day of the first quarter. the worst quarter for the s&p 2016.nce the euro stocks have the worst quarter since early 2016. what should be we -- what should we be watching? and as you commute in, you can tune into our colleagues from 7:00 to 9:00 eastern tonight on the radio -- ben lisa abramowicz joins the conversation with tom. bloomberg surveillance can be heard in new york, boston, the bay area, washington, and across the u.s. on sirius xm. ♪ >> this is bloomberg daybreak. hour, up in the next half gene munster, loop ventures co-founder. ventures cofounder. reform and the first stock market correction in over a year, and the return of volatility. anding us is the founder ceo of estimized. -- market,see volatility, readjustment of leverage. what are you seeing going on in the market, at least as far as eps is concerne

dollar. reluctant to buy until they see how this all plays out. >> does that change if we see a strong jobs number this week, strong wage inflation? >> not at all. i don't think the non-farms payrolls report will have a significant impact on the fx market the rchb eason is it's not goino change the plans or dialogue for the federal reserve. they are committed to raising interest rates in march, unless the number are abysmal i don't think it's going to affect the central bank's tightening plan. i think the headlines regarding the trade wars, how the republicans deal with this, whether congressional leaders try to block it and whether we do retaliation from china is the main focus >> you are surprised we have not seen more weakness in the euro following the italian election >> no basically we're at a pl t political stalemate. it takes six months in the case of germany to get anything resolved we saw the market move on quite quickly. i think right now the focus is on ecb, and whether they talk a

for refineries and other multi-million dollar projects. with. the rules resulted in steep over payments for the work done. executives were bribed to go along and they coast built into the contract. in fact this scheme stretched. to building stadiums for the two thousand and fourteen world cup the two thousand and sixteen olympics and other major infrastructure projects throughout the country. traditionally. yaz is made usual your will to see. in june two thousand and fifteen. against the construction companies in the cartel twelve top level executives were arrested. but. the most powerful prince. c.e.o. of the company that bears his name. is the largest construction company lot in america its bing operation. members and one of the most extensive in the region. that he is to please. give me much. given. the force at that as. he told of the. he was up at the. on march eighth two thousand and sixteen marcello the village was sentenced to nineteen years in prison for corruption money laundering and criminal association. we headed to some other in no

dollar. tracking these declines. lots to watch out for as we get this background for a potential trade war. asia get back to the investment director. let's talk about the implications when it comes to asian markets. a are starting to see re-correlation of the relationship between the yen and japanese equities. position is to be long equities and yen as well? >> that is correct. the thesis is an environment of a strengthening yen. the whitening of the fiscal deficit. what we saw was the trade weighted yen basically went sideways. we have this remarkable boom in the corporate sector earnings. some of that is driven by the uniquely strong domestic conditions. -- are basic view assumings year, we are the market can rise at the same time. >> that is interesting. at what point is there a pain threshold? you start to see the we coupling? in terms of our forecast, we are looking for the forecast to go to 100. threshold should be below the 100 mark. rishaad: this is a win-win. if you are long japanese equities. in 2017, a hug

not even worth a five dollars cover. reported from a private beach bought with blood money data to do exactly. that is just don't know. that breast for a single purpose. they have a super. star training very young. eight months of intensive school. reps. and they save lives. kristen trumps money and finding practices are still surprising yet the recent deployed minutes of my complaint on john bolton have left an impression on friends and foes alike what impact will lay on american politics. well you know these are the kind of adopted because we're called pirates along. i mean they're in the small ball it's next to the hard pool of chips and it's still a. lot tougher than. the little self to make cold fish already ninety percent of the dot and ball in the collar and. leash concept fifteen scoops seventeen tons to unlock the door at several times a day with the big cleats now or you get an idea on why the ocean is. we have to understand we could not stay still and just. be witness of the field going through the hours. i'm

the dollar, the weaker currency climbing0 euro-dollar higher. there was a reversal in the currency market after that tweet. yields go nowhere but there is a strong safety can bid in europe and economies -- and commodities caught up. this is dollar-yen. so many different things going on. lowestyen is now at the sincethat we have seen the election of 2016. the boj governor says we will lay out a timeline. mr. kuroda and mr. trump duking it out over the yen. the three now for stories we are watching right now. trade war. backlash in the markets. and europe's big weekend. david: welcome marty schenker and lisa. let us start with the trump to. president trump tweeted -- when a country is losing billions of dollars on trade with virtually every country it does business with, trade war's are good and easy to win. example, when we were down $400 billion to a certain country, and they get cute, don't trade anymore. trade wars are good. sounds like gordon gecko. throw 100 years of gop orthodoxy out the window. he is taking positions that are directly in o

and why seventeen major league baseball's just about one point three million dollars lobbying capitol hill for a little help with what you ask no it's not some shiny new stadium or even more monopoly and antitrust protections no this one's about greed if you flip through to page one thousand nine hundred sixty seven of the latest congressional spending package you'll find the quote save america's pastime act it seeks to solidify minor league baseball players roles as seasonal and thus not protected by federal labor laws this means that the doesn't have to pay any of its seventy five hundred minor league players a basic minimum wage or overtime now you're probably yelling at your screen who cares savva that why should i care about some rich ballplayers all who just aren't going to get rich or well most things in life only a few get to be rich while those fighting for the dream of the big show are struggling to make ends meet the starting wage from minor league baseball player is levon hundred dollars a month which comes out to about four dollars an hour for a forty hour week the very m

have a look at dollar-yen.e going to draw a between this and what the boj was saying, but the news you mentioned seems to be what is behind this drop we are seeing in dollar-yen. there we go. we are closer to that one of sex handle on dollar-yen, which was the level we were trading at this time yesterday. we will get you more details later on. in the meantime, let's get an update of your first word news. >> thanks. qualcomm jumped after the financial times said the former chairman is seeking funding for a buyout. ft says the jacobs has approached several investors, including softbank, in a bid to acquire the chipmaker founded by his father. he has informed the board about his plan. the news comes after president trump blocked broad comes to for qualcomm. says government ownership of india's banks is regulation. he called for more power to regulate and the level playing field between the public and private sectors in the latest bign of discord between rbi and its bosses in new delhi. india has amended a law that

buy dollar, sell gold. larry kudlow signals president trump would support a stronger dollar.response. britain's government awaits the kremlin's next move after expelling 23 diplomats. we are live in moscow. win, win. justin trudeau tells us why he is still upbeat on nafta. >> yes, there is still a couple of people asking what is going to happen with nafta, but i am confident that we are going to get to the right place on nafta, and there is an eminently achievable win win win out of nafta, and we are working to get there. matt: and we have got breaking news coming across from unilever, the maker of so many consumer staples. it's looking to be incorporated into a single legal entity, incorporated entirely in the netherlands. it will look to operate from london to rotterdam, but this is an issue a lot of companies have faced lately, where to be traded. it will continue to be traded as well over different exchanges, including that in london, but it will be a angle legal entity incorporated in the netherlands. favorl family having a -- having a dutch headquarters over having a he