in fairness to simon dudley, he does go on to say, to point out that homelessness is com pletely u nat homelessness is completely unacceptable in a caring, compassionate community such as owls. it is what the guardian has picked up on here and the tone of this letter which is really unpalatable, and a kind of wonder what prince harry and meghan markle, meghan markle seen as many as very keen on humanitarian efforts, how will this go down with the royal couple? not very well and not a great headline. not what they would want. harry and william have those at times like christmas have worked with charities in london where they have actually slept out in the streets i remember years ago. a very well—known charity in london looks after the homeless in london at this time of year. you have thousands of well—wishers coming to windsor at a key time, but the fact is there needs to be some kind of effort and solution, but there is not that kind of tone in the letter. we have a minute to go so we have the green car story in norway and we have chocolate could be a thing of the past by 2050. i was

. >>> in the next half hour, bob dudley will join us.tay tuned u' wyoreatching "worldwide exchange" on cnbc. . >>> welcome back to "worldwide exchange." the annual meeting of the world economic forum is under way in davos, we are joined by tim adams. good morning to you. >> good morning. glad to see you. >> indeed. tim, we mentioned that you're calling this year the year of the f.r.o.g.s, not necessarily the year of the french in particular but why f.r.o.g. >> here in davos the bulls are running the street, maybe the year of the bull it seems like the bullish sentiment here is overruling any caution. nobody wants to hear anything about bad news or complacency. >> tell me what you meant by the concept of frif u.r.o.g.s >> central banks are trying to normal size monetary policy after this extraordinary period. how they do that, what the phillips curve looks like is a function of the output gap we have been doing analytical work, trying to understand what that output gap looks like as we better understand where those inflationary pressures

the stakes are high for the replacement of outgoing president bill dudley, a voting member of the fomcprocess, let's doing in bloomberg's fed reporter. thatave a piece out describes the people being considered. it's a different sort of list. >> absolutely. one thing that has been really important to the new york fed process is finding a diverse pick. they're looking for diverse candidates and the search committee has been consulting all of the new york fed advisory committees. they are casting a wide net right now. shery: how tricky is filling this hard? >> incredibly hard. you need someone who understands monetary policy. you need someone who understands financial markets because they're overseeing all of the big new york bank supervision. you have to have someone who really understands how market operations work because the new york fed is tasked with setting interest rates. you have to thread the needle with all of those various qualifications. david: in the bloomberg report there's a long list of people which includes several women. more than one african-american. in the past have

in a three—page letter to thames valley police, leader simon dudley says, "there's evidence that a larges and if they are, they're chosing to reject all supporting services." he goes on to say, "this is creating a concerning and hostile atmosphere for residents and the seven million tourists who come to windsor each year." but for those out in the cold, it's a different story. james has been homeless for the last 12 months. he says he never aggressively begs for money, but is grateful when people do. the council has said that they have offered support accommodation to people like you. why haven't you taken that up? it's only over the christmas period, forfour days. after the four days, you're kicked back out on the streets. windsor castle is one of the country's most popular tourist destinations and on the 19th of may, when prince harry marries meghan markle here, tens of thousands of people are expected. police and the local authorities will want to make sure everyone from all different communities are safe and secure. for years, windsor has been home to the rich and poor, but some loca

simon dudley said some people begging were not in fact homeless, and had made a "voluntary choice" toer has got lots of people talking here in windsor, and it has proved to be very controversial. some homeless charities say they are sickened by the details in this letter, while others say there is a problem with begging and it needs to be tackled. earlier, i was speaking to some of the homeless people here, and windsor is set to get a lot busier over the coming months with the royal wedding being an may the 19th. it may be one of the country's most affluent areas, with a prime tourist attraction, but nestled among the expensive shops and the is poverty, and those begging on the streets in this town have now been targeted by the local council leader, who once then gone before the royal wedding. it's a royal borough, said the queen is right behind me in the castle, and there is a royal wedding coming up and there is a royal wedding coming up and they don't want us on the streets. do you think it is fair? of course not. in a 3-page letter, the lead of windsor and maidenhead royal borough

in a three—page letter to thames valley police, leader simon dudley says: "there's evidence that a largeo reject all supporting services." he goes on to say: "this is creating a concerning and hostile atmosphere for residents and the seven million tourists who come to windsor each year." but for those out in the cold, it's a different story. james has been homeless for the last 12 months. he says he never aggressively begs for money, but is grateful when people give him cash. the council has said that they have offered support accommodation to people like you. why haven't you taken that up? er, it's only over the christmas period, forfour days. and after the four days, you're kicked back out on the streets. windsor castle is one of the country's most popular tourist destinations and on may 19th, when prince harry marries meghan markle here, tens of thousands of people are expected. police and the local authorities will want to make sure everyone, from all different communities, are safe and secure. for years, windsor has been home to the rich and poor, but some local businesses say beggi

tell us more about the comments from simon dudley which have caused controversy? that is right.e harry marries meghan markle at windsor castle behind me. in this 3—page letter, the councillor has written to the thames valley police and crime commission setting out his concerns about the level of homelessness and begging in this borough, saying they should be using their legal powers to re m ove should be using their legal powers to remove the number of homeless people here ahead of the wedding. he has called this aggressive begging and intimidating behaviour, saying homelessness is completely unacceptable. as you can imagine, this has caused anger and upset from homeless charities in the area, who have called his comments are borrowed, saying his comments are sickening, that he has used the royal wedding as an excuse to target these vulnerable people. tens of thousands of people are expected to join in the celebrations on may 19 when prince harry marries meghan markle here at st george's chapel at windsor castle. but a bit like the weather, this letter has caused a dark shadow a

it depends on who gets dudley's position. the president of the federal reserve bank of new york is a permanent member of the fomc. interestingly enough, the people who are the incoming members include a list of very accomplished economists. john williams has experience from san francisco, loretta mester from cleveland and now, raphael bostic from atlanta. these people are not only first rate economists, but their views have been pretty much aligned, at least according to their public statements, with what the policy has been all along. what i think they will stick to and probably be a tad more hawkish than the current makeup inpresidents who were voting -- voted in in 2017. mark: it could be more than likely that we see more than three rate hikes in 2018? robert: i'm not sure about that. right now, because of the vacancies and all the rest of it, i think you will see caution to begin with. they will be data dependent. i know there were some expressions in the last minutes of the fomc about people being not quite so sure about

. >>> switching to the u.s., new york fed president bill dudley warned that the u.s.ax cuts will come at a cost. he says the legislation is putting the u.s. economy on an unsustainable path because it will increase the country's long-term fiscal burden. he raised concerns about the tax cuts overheating the economy and said there's a strong case for the fed to continue raising interest rates we have the global head of g10 rates from citi still here interesting comments from dudley, especially since most analysts think the economic impact from the tax reform is something to the tune of 30 basis points or so do you share his view that the tax reform may lead to an overheating? >> yeah. i think they come at the wrong time unemployment at 4.1% wages have started to pick up, but there's some things we can anticipate in the next couple of years. it's unhelpful at this time that fiscal policy is stepping on the accelerator. the curious point about the comments is the minutes from the last fomc suggested that many of the dots that we saw already factored in fiscal policy. that

bill dudley quit the coming months.rtance of elon musk by granting him a $2.6 billion award that can make him a 55 billion dollars, if fully vested over a decade. it is part of tesla's plan to become one of the biggest countries in the world and perhaps make moscow one of the richest persons. it is typical of elon musk, moonshot gold, but little details. philippines, fountains of law that -- into the country. awaypeople had been moved amid fears of an even more violent irruption. they are warning that localized earthquakes and the cloud could ruin everything in the area. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am jessica summers, this is bloomberg. betty: thank you so much. onsident trump's decisions tariffs of solar cells and washing machines, the white house seems confident it won't spark a transpacific trade war. to discuss this, our bloomberg editor. we are nowhere near a trade war but seemed to be heading toward something like that. what does this

>> i want to ask a big picture question this has come up quite a lot there was an interview with dudley in the ft yesterday where he was talking about the fact that maybe at some point in the future they will have to reconsider that 2% as an inflation target because they're seeing a tremendous amount of asset price appreciation, talking about extreme valuations across the board, not just in equities but also fixed income space. do you think at some point in the future central banks will have to reconsider their inflation targeting policy and think about matters such as financial instability if valuations stay this stretched >> it's a really good question clearly there's a debate going on across a number of major central banks as to if we don't hit inflation targets, the line so far has been monetary policy is to control the economy and target inflation, macro potential policies is to prevent imbalances they'll move to potentially a sort of inflation range which would allow them, if you'd like, to lean against the market a little bit more. one thing which dudley also did highlight is tha

fedeard from new york president dudley. not that concerned about inflation.hat is why breakevens have risen while inflation term premium has not. inflation picking up, the fed says we are going to hike three times, we will hike in 2019, so the idea that they may be behind the curve is not there. so therefore term premium remains low. inflation risk rises because you have the fed trying to push back. the whole tax story is making them more likely to hike this year. prettyn: you all seem constructive on the 10-year premium in the u.s. looking at the situation with bunds versus treasuries, a lot of you have talked about the attractiveness of 10-year treasuries versus bunds, but that disappears when it is currency hedged. matthew: that's accurate and you look at european high-yield trades, inside of 3%, 2.8%. that twoyou convert u.s. dollars, that adds about 200 basis points. you have to factor in that currency translation. important but does not really take away from the story. there is a big gap between bunds and treasuries. that trade is exploitable, one that

erik schatzker is sitting down with bp ceo bob dudley. erik: good to see you at the world economic forum. just the other day saudi arabia and the russians appeared to agree to be willing to cooperate on production supply management in the oil industry effectively be on the end of this year. how important is that? >> it doesn't surprise me. people didn't think they would aoperate in the last year and half -- they have. it will always be a debate but it doesn't surprise me at all. i think it is important. erik: a half -- they have. why? world needs an oil price range. it doesn't need to be too high or too low but it needs a range. having open lines of communication and cooperation makes sense to me. erik: can the extension of those production cuts counter the impact of the growth and supply from the shale patch? >>range. it doesn't need to be too high or too we will see the growth ad supply in the u.s. 10.5 million barrels a day some people are saying. it is also slow to ramp up this time. there is financial discipline happening here. i thi

simon dudley said some people begging were not in fact homeless and had made a "voluntary choice" tomay be one of the country's most affluent areas with a prime tourist attraction, but nestled among the castle and the expensive shops there is poverty. those who are begging on the streets in this town have now been targeted by the local council leader, who wants them gone before the royal wedding. it's a royal borough, so the queen is right behind me and the castle. i think we're going to say that's the royal wedding come up. they don't want us on the street. they want to clear up, don't think. do you think it's fair? no, of course not. none of it's fair. in a three page letter, the leader of windsor and maidenhead royal borough council is calling on thames valley police to use their legal powers to remove beggars. simon dudley says a significant number of the adults chose not to turn up and use the accommodation that the council had purchased for them instead choosing to remain on the street begging, creating a concerning and hostile atmosphere for residents and the seven million tou

simon dudley said some people begging not in fact harmless and had made a voluntary choice to live onnhead borough council, simon dudley, has written this letter to the thames valley police crime commissioner, setting out his concerns about the level of homelessness and aggressive begging here in windsor. he says it is intimidating and the bags under the mess they are leaving here is casting windsor in an unfavourable light. as you can imagine, these comments have caused quite a stir. lots of homeless charities are upset by what has been said. we can speak to one of them. murphyjames from the winter homeless project. how do you feel about this? it is unbelievable that anybody can have this opinion these days. with reference to the letter, he lays out some good points which are very misinformed. he says we have an emergency shelter 365 days a year. we do have a shelter that sleeps eight males and two females. it is not an emergency shelter. you can't just turned up there. you have to be preregistered with the local authority will place you into the shelter. it is not an emergency shelt

the letter, written by councillor simon dudley, comes ahead of the wedding of prince harry and meghanour correspondent adina campbell has been gauging reaction in windsor. well, this three page letter has caused quite a stir here in windsor. the leader of windsor and maidenhead royal borough council, simon dudley has written this letter the to thames valley police crime commissioner, setting out his concerns about the level of homelessness and aggressive begging here in windsor, he says it is intimidating and the bags and the mess they have left or they are leaving here, is casting windsor in an unfavourable light. as you can imagine these comments have caused quite a stir. lots of homeless charities have been upset by what has been said and we can speak to one of them. how do you feel about these comments in the letter? one of them. how do you feel about these comments in the letter7m one of them. how do you feel about these comments in the letter? it is just, it is unbelievable that anybody can have this opinion, these days. with reference to the letter he lays out bullet points, of

without a league win all season, aberdeen, dudley and motherwell also recorded victories. as they reached the knock—out stage of the champions cup. they did so with a 30 points to 27 victory over toulon, which also saw the french club reach the last eight. saracens kept their hopes alive by thrashing northampton. glasgow beat exeter to end their hopes, while clermont beat ospreys as they also drop out. england's ross fisher has a share of the lead heading into the final day of the abu dhabi international, with rory mcilroy also in contention on his return from injury. mcilroy, though, could be the one to watch heading into tomorrow's final round — he's third, one shot off the pace, after hitting eight birdies in his third round. fisher produced a 7—under par round of 65 to catch the overnight leader thomas pieters, finishing his round with this birdie putt to move 17 under overall. england have won their opening match of the netball quad series against new zealand 64 points to 57 at the copper box arena in london. the match had to go to extra time after the score was level

we heard from new york fed president dudley yesterday. not that concerned about inflation.that is why breakevens have risen while inflation term premium has not. -- has not risen. you have inflation picking up, the fed saying we are going to hike three times, we will hike in 2019, so the idea that they may be behind the curve is not there. so therefore, term premium remains low. but yet inflation risk rises , because you have this fed trying to push back. and the whole tech story is making them, i think marginally, more likely to hike more this year. jonathan: so, as a panel you all , seem pretty constructive on the 10-year treasuries in the united states. mike, looking at the situation with bunds versus treasuries, a lot of you have talked about the attractiveness of 10-year treasuries versus bunds, but that advantage disappears when it is currency-hedged. would you think of that? matthew i think that is will : accurate. you look at european high-yield trades, inside of 3%, 2.8%. that is eye-popping. you convert it into u.s. dollars, that adds about 200 basis points. you h

the current council leader simon dudley recently said beggars might show windsor in an "unfavourableday. police on a raid in essex have found a four foot long caiman crocodile and 16 live snakes at a house in westcliff. the reptiles included potentially deadly pythons and cobras. a scorpion was also found, as well as several dead snakes. 0fficers searched the house in connection with a cannabis factory found in basildon two years ago. lots of reptiles were also found there. the rspca is now helping police with their enquiries. in football, tottenham midfielder erik lamela says he believes the team could win the fa cup this season. lamela was speaking at a local programme supported by the club to promote health and fitness. tottenham are away against league two newport tomorrow in the fourth round of the fa cup. we need to go forward in the competition and try to do... try to win one tricky this season, because i think we have a very good squad andi i think we have a very good squad and i believe in the team, that we will achieve something. let's have a look at the travel situation no

we are still sitting through morgan stanley, but that is the third bank i would say dudley posted strongers. will leave it there. executive vice president and global director of research at kbw. let's take you to some of the movers today. -- the industrial average down a third of a percent. of as a beat down 2/10 percent. there are many stocks higher in the s&p 500, including verizon, which is having a good day. 7%, there may be some type of a deal as les moonves is looking for a deal compare with viacom. when cam worldwide is also up 5%. coming up, china accelerates the world's second-largest economy and sees annual growth speed up for the first time since 2010. this is bloomberg. ♪ vonnie: a beautiful shot of midtown manhattan. i am vonnie quinn. a clear day in washington. shery: this is "bloomberg markets." the dow is down .3%. .1%.&p 500 down th vonnie: time for the first word news this afternoon. mark: president trump believes a government shutdown could happen and that it's up to democrats to prevent it. the president addressed reporters as he arrives at the pentagon to meet with s

. >> jake, the number of youth parliament for dudley. >> well done. thank you. excellent. [applause] >> now, do we had it would be speaker from northern ireland? anybody from northern island who wishes to speak in this debate? let's hear you, sir. >> thank you, mr. speaker. then sharkey from lagan valley. i learned nothing of sexual identities when i was at school. i learned nothing of the struggles and everyday dilemmas that lgbt people fear. this motion is for the protection of this community. but that must start at the ground level with comprehensive education and understanding and acceptance brought in from a young age. that's the only way to make a real change that lasts. many of you know how northern island was snapped under back y defined class after the last snap election and many of you push your outrage on which upon a facebook. there are a lot of people in northern ireland going up with mindsets stuck years in the past, concerning matters, from sexually to religion, political lime and more. we we'll only learn from entire generation is running from an entire sou

jake cooper, the member of youth parliament for dudley. >> well done. thank you. excellent. now, do we have a would-be speaker from northern ireland? anybody from northern ireland who wishes to speak in this debate? yes, the gentleman here, please. let's hear you, sir. >> ben sharky from logan valley. i learned nothing of sexual identities when i was at school. i learned nothing of the struggles and everyday dilemmas that lgbt people face. this motion is for the protection of this community. but that must start at the ground level with comprehensive education and understanding and acceptance brought in from a young age. that's the only way to make a real change that actually lasts. many of you know northern ireland was thrust under a magnifying glass after the last election and many of you posted your outrage about what you find on facebook. there are a lot of people in northern ireland growing up with mind-sets stuck years in the past, concerning matters from sexuality to religion to race to political alignment and more. and we only move on when an entire generation are lea

irish community held where he went from being a friend a fireman to an enemy of the other way of dudley's murdered by the electorate and you had a family connection i had a family connection here money well call jordie when i was a wee boy used to tell me about churchill who he admitted that he really ultimately said ah but he was the man for us when it came to the war but he said but before all that he said i remember he said he said i remember we'll he said we were there did in the city square he said and churchill came in and they brought a bag and he was on a big wheel it was what a big armchair with a sort of look like puddles like course they were carrying them because he was sick and he was no way when we showed you that i showed the guys that were kerry was a how much did. they are the guys shouted back a quid pound the buck we're here to have you drop of. so what and. when you would went home so wasn't too pleased to be a lawyer i was very sickly he really did believe i gotta go buy a temp and scandal. story but i'm in so he had didn't buy templar's kind of the. so it sort of cos

other way of dudley's murdered by the electorate and you had a family connection i had a family connection here money well call jordie when i was a wee boy used to tell me about churchill who he admitted that he really ultimately said ah but he was the man for us when it came to the war but he said but before all that he said i remember he said he said i remember we'll he said we were there did in the city square he said and churchill came in and they brought a bag and he was on a big wheel it was what a big armchair with a sort of look like puddles like course they were carrying them and because he was sick and he was no we when we showed that i showed that the guys that would carry it was a. how much of the player the guy shouted back a quid pound the buck we're here to have you drop of. so what and. when you would went home so wasn't too pleased to be a lawyer because artistically it really does does seem like the ego by a temp and scandal. story but i'm still here didn't buy templar's kind of the. so it sort of cost the city that only did he actually made a speech on the platform the t

we'll have uber ceo, blackstone, and bob dudley among others. you don't want to miss those.oming up, markets responding. optimism grows as the embattled south african president's government with a live report from cape town just ahead. this is bloomberg. ♪ vonnie: in new york, i am vonnie quinn. mark: live from london, i mark barton and this is "bloomberg markets." let's turn to south africa. optimism has led to the president's scandal era government. the ruling african national congress decided over the weekend that the 75-year-old must leave office. the zuma's departure could open the amc leader to take over the presidency and try to rescue the country. robert brand is live in cape town. could zuma be ousted? we don't exactly know because they did not give us a timeframe. although they said over the , there are a number of people who have strong indications that they want this moved before the state of the nation actually switch is scheduled for the beginning of february. i would not be surprised if he's out of office within the next two weeks. mark: that's high hopes for

the new york fed president bill dudley quit in the coming months.active volcano in the philippines has burst into life, sending thousands of -- sending lava and ash into the sky. 56,000 people living nearby have there are away, and fears of a more violent and corruption. authorities warn of localized earthquakes and a pyroclastic cloud, where gas vaporizes everything in the area. >> in singapore, checking , it is a lotssion about the dollar weakness. the spot index falling to a three-year low below 90. we are seeing a surge in the japanese yen, up 4/10 of 1%. no surprises. you are seeing japan past nikkei index down by .8%. the topics -- the topix retreating. there is still lots of value in japanese stocks and we are starting to see the decoupling coming through from the relationship with the yen and stocks. 200 coming, asx back. let's have a quick look at the stuff we have been watching in the session. we have been watching, sony has slumped after j.p. morgan downgraded it to neutral. an insurance company rising in sydney. petrochina at the highest

president bill dudley quits in the coming months.orney general jeff sessions has been interviewed with special counsel robert mueller. making him the most senior official question so far. includes investigation whether or not president trump's investigation colluded with russia. the democrats offered to give resident trump more money than he wanted, is now off the table. thek schumer rescinded offer. border security is essential in order to protect undocumented migrants romp deportation. president trump tweeted that everyone will still be trying to reach a deal. the bank of japan has washed speculation that tightening is on the agenda. the bank is in no condition to consider changing current policy given that inflation remains a long way from the 2% target. the governor says nothing will change, in the foreseeable future. global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm paul allen, this is bloomberg. the rhetoric on trade is still one of the biggest marcus -- biggest mark

these were dudley do goods. we're going to save people. and when you said to them you also have a national security mission now. you've got to protect our ports, do all these other things, they did not get the plus up in their budget they should have gotten when they got the new mission and so i think we're horribly underinvested. >> i think the common daunt position might be coming up. >> [ inaudible ] one of the original members of the office of intelligence policy in the 1980s. so precursor to your -- >> that's good. >> we spent a lot of time as a community as well as in these forums on technical collection of intelligence. not enough on human. and i wondered if we look at the missiles testing in north korea, if we look at the russian involvement in our elections, if we look at the difficulties but ultimately it solution in finding osama bin laden as opposed to technical means. i wonder if we, as a nation spend enough time on human intelligence and supporting our intelligence community of peep wool are the officers there who are doing d

. >> interesting that -- contrast fink's comments with say dudley who says the tax cuts going -- there'so free lunch. this is all going to come at a cost to the economy down the road. >> you're looking at a man, fink, i happen -- i really just respect him tremendously he's created a juggernaut. but the real story with fink and blackrock, money in. the endless pouring in of s&p money created a floor on the stock market that keeps going higher because the -- just the kind of -- just basically plain vanilla money by retail investors convinced by the w warren buffetts, should put money in -- it's the great story, continuing story of the passive investor. >> until the day those reverse one day it will happen i don't know when. >> i don't know. >> i don't know when. >> you see some of these targets long term targets tom lee talking about a bull run that lasts 10 to 20 years, millennials the largest ever generation acting as a structural tail wind for stocks. >> never heard that demographic, larger than the baby boomer, suddenly the millennials now. >> it's an experiential thing to put your mon

the letter, written by councillor simon dudley, comes ahead of the wedding of prince harry and meghan comments as "abhorrent". 0ur correspondent adina campbell has been gauging reaction in windsor. this 3—page letter has caused quite a stir in windsor. the leader of windsor and maidenhead royal borough council has written this letter to the thames valley police crying commissioner setting out his concerns over the level of homelessness and aggressive begging in windsor. he says it is intimidating and the mess they are leaving in windsor is casting windsor in an unfavourable light. these comments have caused quite a stir with lots of homeless charities upset by what has said and we can speak to one of them. how do you feel about these comments? speak to one of them. how do you feel about these comment57m speak to one of them. how do you feel about these comments? it is unbelievable that anybody can have this opinion these days. with reference to the letter he lays out bullet points which are very misinformed. he says we have an emergency stilt 365 days a year. it sleeps eight males and

. >> reporter: denise dudley lives next to this man, mohammed abraar ali, a man now accused of killing chp officer andrew camilleri. >> i just was so horrified. >> reporter: but she said she is not surprised the 22-year- old she knew as mo is accused of being high on marijuana when he allegedly slammed into the officer's parked parole car on 880 less than an hour before christmas day. investigators say he was also drunk. >> we could usually smell under ma from their balcony and -- smell marijuana from their balcony. >> reporter: video shows his black cadillac from that night. investigators say he was driving more than 100 miles per hour. >> i think he did racing or something. there was always like racing stickers on cars. so i think he did the area racing. >> reporter: bay area racing according to its site is an organization of racers who say they race on legal tracks, but also post youtube video after video of street racing. >> officer andrew camilleri was tragically killed and his partner jonathan velasquez was injured. >> reporter: today alameda county district attorney nancy o'mall

mike: cool, yeah, so my brother and i started the company out of our grandmother's basement in dudley, massachusetts. sjc is actually my brother's initials. right now what we're doing is, instead of just being a full-fledged custom shop like we've done in the past, we are developing a product mix -- a good, better, best model -- where we'd love to have this, which is the "better" kit, available in your store. richard: oh, boy. price-wise, where are you? mike: this kit, to sam ash, would be about $1,100, where you guys could retail it at about $1,700. richard: that's -- no, i'm sorry. you've picked a very difficult category. you're competing with some of the biggest companies in the industry that have huge, huge artist rosters, that have been around for many, many years. it's just not what we see. or one that's good for my teeth? that whitens my teeth i don't have to choose! from crest 3d white comes new whitening therapy. it's our best whitening technology. plus, it has a fortifying formula to protect your enamel. crest. healthy, beautiful smiles for life. ♪ cleaning floors with a mop

if you listen to bill dudley, he's become much more bullish or hawkish and he's concerned, but i would say this it really depends on how much the economy heats up they're getting closer and closers to the 2% intermediate term target. the new york fed numbers are way above that now >> diamond said 4% could happen. >> what you have to realize is jay powell understands capital markets. his previous two successors, brilliant, wonderful people, janet and ben, didn't come from that background. he's very comfortable with markets. when i was on the fmc, we talked about a potential correction at some point i think he's going to be more understand iing of that and less fearful than the ak dem economist was before so we have to see what happens but at some point, you have to have a reset in prices the president said i am responsible for $7 trillion in added value here do you think he's going to say i'm responsible for a sell off he's going to point to the fed >> my advice -- i would have said if the president offs you the job say no you're going out on the top. i think jay's got it understands it

they were dudley do-good. we're going to go out and save people.when you say to them, look, you also have a national security mission now, right, you've got to protect our ports and you've got to collect our intelligence and do all the other things, they did not hardly get the plus up in their budgets they should have when they got the new mission, so i think they're horribly underestimated. >> host: i think the common issue might be coming up. >> one of the original office of intelligence justice, so precurs precursor. my question goes, we spent a lot of time as a community as well as in forums on the technical collection of intelligence, not enough on hume and i wonder if we look at the missiles testing in north korea, if we look at the russian involvement involvement in our owe lexes and look at the difficulties and ultimately the solution in finding usama bin laden through human as opposed to technical means. i wonder if we as a nation spend enough time on human intelligence and the people who are officers there who are doing difficult jobs? an

said the ill dudley risk of an overseeing economy reinforces the case for gradual increases.ut the fed having to of fast hat prospect inflation. >> yes, and we'll have a new fed regime in addition to a fed chair, a vice chair. we don't know who that will be. on the fomc. departuremic with the of jennic yellen. any concerns there. the fed is sort of basically - tightened financial conditions. >> when we got powell reduced a d out we big uncertainty about who would be the fed's chair. done. was it was more or less business as usual. it, i y i like to put think the odds of the fed making fairly low. odds of the fed making a mistake. very careful. looking at the data. you mentioned the ppi. surprisingly weak. they'll take that into account. consumer loomberg comfort measure strong. those, but iuncing think whether they tighten twice year. e times this it will be dependent completely on how the economy is unfolding. started with how investors are not all in. what about companies. will l get tax savings, they put that money back into share buy backs. or spend it on capital signatur

in a three—page letter to thames valley police, leader simon dudley says, "there's evidence that a largey're chosing to reject all supporting services." he goes on to say, "this is creating a concerning and hostile atmosphere for residents and the seven million tourists who come to windsor each year." but for those out in the cold, it's a different story. james has been homeless for the last 12 months. he says he never aggressively begs for money, but is grateful when people do. the council has said that they have offered support accommodation to people like you. why haven't you taken that up? it's only over the christmas period, forfour days. after the four days, you're kicked back out on the streets. windsor castle is one of the country's most popular tourist destinations and on the 19th of may, when prince harry marries meghan markle here, tens of thousands of people are expected. police and the local authorities will want to make sure everyone from all different communities are safe and secure. for years, windsor has been home to the rich and poor, but some local businesses say beggi

we have tried to work on is integrated public assurance, which means we have one pilot project in dudleyies coming together, and this is the problem with carillion, no one big business can properly manage the delivery of these big projects. there are other arrangements, carillion was a middleman and what we would like to see is more engagement with big suppliers. engineering is by its nature a costly input. they stand to lose a lot more money than other firms. i'm not saying otherfirms will not lose, a lot for small firms and it's important to them, but the biggest losses will be within engineering. the other thing, at the moment we have in parliament, a bill to protect these cash retention speakers this is outstanding, carillion owes retention going back three orfour carillion owes retention going back three or four years and fast to meet the millions out standing there, and this bill in the house of commons, first reading last week, we want to see that they'll come into law and the bill would mean if you take retention monies you have to put them into a deposit, like a tenancy deposit,

president dudley delivers his keynote speech on the outlook for the rest of the year. get the bloomberg business flash with juliette saly. juliette: ferrero nearing a deal to acquire nestlÉ's confectionery business for 2.8 billion dollars, according to a person familiar with the matter. the business inclusive butterfinger and baby ruth rants and is suffering a decline in revenue. selling 1.5 billion euros more of its remaining stake as part of its ongoing plan to focus on drugs and life sciences. the german company has been steadily paring its stake in the former division as it shifts away from industrial chemicals to focus on pharmaceuticals and cross chemicals. it's agreed to buy monsanto, a deal that will test buyers financial firepower. rio tinto has dropped out of the bidding for a stake in one of the world's top lithium producers as it pursues other ways to capitalize on the electric car boom. according to people familiar with the matter, rio decided not afterceed with an offer information in a data room. ats worth about $5 billion current market prices. represen

guy: dudley at the new york fed is worried it could end up overheating the u.s. economy.robably a little bit more candid in his views. that? we threat is have cpi data coming through later on. at some point, i don't know where it is, there is going to -- wages are going to have to go up at some point. you are already seeing it in skilled sectors. what effect do you think that tax will have more broadly? tim: the reality is the fed doesn't know. secret.not really a the inflation picture is very nuanced. you have online inflation gauges for the u.s., and they don't really .2% -- they don't really point to persistent pressure. i think the proof will be when we get through to maybe march, when some of the effects from last year, the big collapse in mobile phone price, mobilephone s off.es, rolle if you are pushing for 3%, maybe the fed does need to think about a fourth hike. the evidence we have, and even looking at wages which have improved, but no are closer to where you would expect them to be at this point in the cycle, it does not give them any reason to be in a hurry. m

reporter: but it's those living on the streetses that's caused controversy after local leaders simon dudley should clear the homeless outside windsor castle before the wedding. they already made clear they want their wedding celebrations to extend well beyond those castle walls. for "cbs this morning," charlie d'agata, london. >> people gaga over the royals. the radio deejay handed them a card and said, i can play at your wedding, which i think is very bold. >> you want to avoid the wedding band. >> no "feelings." >>> actor mathe wukz why he got stage fright with . >>> that's a view of a coast guard cutter in boston this morning. welcome back to "cbs this morning." where is it? oh, that's a view from it. i was like where is the coast guard cutter. got it, got it, got it. overhead shot. >>> meryl streep and tom hanks star in "the post," but it's their impressions of each other on "ellen" that got attention. >> my mama said box is like a box of chocolates. to do. >> with all due respect, sir, i have done battle every single day of my life and many men have underestimated me. this lot seemed b

bill dudley, president of the new york fed, speaking in new york area, talked about an overheating riskou get a tax cut, it saturates fiscal policy come on top of growth already looking above trend to him. if the fed waits to raise rates, it could be quicker. he talked about overheating in inflation, inflation could exceed the 2% target. you do not want the fed to have to raise rates rapidly. he sees the case for three rate hikes in 2018. let's look at one more chart. the next thing we are watching is the consumer price report that comes out friday morning in u.s. time. this is the cpi year over year, 1.7%. that is the forecast for december, as well. far from the 2% target. the main gauge, only at 1.5%. another way where the bears and bulls can still have a lot to debate. we will see what happens. it is early 2018. this could be the year, we shall see. betty: in the next segment we will be talking about this. still ahead, looking to the latest trade data out of china due in a few hours. we'll discuss what to expect with our guest. also, inflation data happening in the u.s. our guest joi

reporter: but it's those living on the streetses that's caused controversy after local leaders simon dudley should clear the homeless outside windsor castle before the wedding. they already made clear they want their wedding celebrations to extend well beyond those castle walls. for "cbs this morning," charlie d'agata, london. >> people gaga over the royals. the radio deejay handed them a card and said, i can play at your wedding, which i think is very bold. >> you want to avoid the wedding band. >> no "feelings." >>> actor mathe wukz why he got stage fright with >>> good morning, i'm rahel solomon. a south jersey community is marking a high flying anniversary this week, there were plenty of hot air balloon at deptford township recollect center to honor john pierre blanchard, 225 years ago he was at controls for very first hot air balloon voyage in u.s. history which went from philadelphia to deptford. >>> lets check with katie for a check of the forecast. a typical january day and yet it still feels mile. >> isn't that bizarre how you project the so altered after a couple of really harsh d

you had dudley made -- saying 2.5 is better.: i think the fed is concerned about the level of asset prices, particularly in the stock i get a they also want to get the level of the fed funds rate higher, so we have we get downturn -- so if another downturn, they are able to fight it. the question is how they will do it. williams and others are dissipated in an event where ben said he thinks we will be talking about this in 2019, not this year. williams is on record to favoring three moves this year. alix: this harkens back to what we saw yesterday in the auction. crazy strong demand. the rise in yields. inflation moving higher. do you think it is all about oil, that that that looks through that? lori: i would agree with gina, that it is the underlying economic activity beating that. oil or flex not to some extent, so i think people are getting excited, but i would not say it is all about oil. alix: how will the fed look at that? finally, the market is paying attention to inflation. michael: they will say, we are finally right. b

lots of homeless charities are upset by what's been said by simon dudley. homeless project. how do you feel about these comments and the letter? it's just, it's unbelievable that anybody can have this opinion these days. with reference to the letter, he lays out bullet points which are, they're very misinformed bullet points. he says we have an emergency shelter over 6365 days a year, we do have a shelt they're sleep eight males and two females. it isn't an emergency shelter, you can'tjust turn up there if you find yourself homeless, to you have preregistered with the local authority who place you into the shelter. it's not an emergency night shelter. he then says that there is a day service attached to the night shelter, there is nothing but an empty warehouse attached to the shelter. he says there is a joint drug and alcohol mental health service, there isn't such a thing, if there was we wouldn't be in this predict amount. how widespread is homelessness at the moment? we dealwith how widespread is homelessness at the moment? we deal with about 50 to 60 c