i'm erik schatzker.s is bloomberg best, your weekly review of the most important business news, analysis and interviews from bloomberg television around the world. many of this week's most important events in on the calendar for months. major central-bank policy meetings. on monday, political surprises were the order of the day. we have some breaking news because the congressional budget office released its scoring, assessment of the house gop alternative to obamacare. some of the big headlines out right now. the bill would reduce the federal deficit by $337 billion. million --st us $14 14 million people would be uninsured in 2018. what is your snap judgment? >> the fact it says it would reduce the federal deficit by $337 billion is definitely something this white house is going to be pushing for. again, the fact it would increase the number of people who are currently insured and they would be now uninsured, that's a number the democrats are going to pounce on. without question the fact they say it woul

that is our very own erik schatzker, editor at large. on "bloomberg markets," a barneycongressman frank discusses immigration, trade, regulation, and tax reform with our very own david . john cryan reverses course. now he needs to convince investors. this is bloomberg. ♪ vonnie: this is "bloomberg markets." i am vonnie quinn. deutsche bank is reversing course on turnaround plan implemented 17 months ago. francine lacqua spoke to the ceo john cryan today. >> a couple of things have changed. one is we have changed our course with the postbank. the current team, we slightly inhibited this plan, which is fine. at i think we never made secret of the fact that it was a capital raising effectively -- wasn't capital raising effectively. we have always said given the capital raising, it has to make sense from a capital generation. it was always a strategic challenge. the two were moving out of kilter. we saw germany improving as a banking market. we saw postbank reporting very well. it has together with our blue bank in germany 20 million custome

we'll have more from his exclusive interview with erik schatzker, where he discusses his outlook for the luxury real estate market and his views of president trump. this is bloomberg. ♪ vonnie: this is bloomberg markets. i'm vonnie quinn. harry macklowe is one of manhattan's most storied real estate developers. the man whose losses forced him to sell the g.n. building, only to rise again to build the tallest tower in the western hemisphere. macklowe sat down with bloomberg's erik schatzker to discuss the state of the real estate market. >> the state of the market is slower and is less exuberant than it was two or three years ago, and there's a reason for it. and it's not something to be not discussed. there has been a tremendous production of housing in brooklyn, in queens, in lower nhattan, and, to a degree, the side has lagged behind the evelopment of the other areas. the prusks housing is the best possible thing for new york city. fine it's an overproduction. >> overproduction is great if you're a buyer. not so great if you're a seller or a developer, is it? harry: the development

i am erik schatzker.herlands of this week, as well as drama and france's presidential campaign. >> let's talk about france. france, fillon denied any wrongdoing and announce the investigation as a plot by his political opponents. is this enough to sink him? >> probably not. we knew this was coming. fillon gave a press conference saying he had been summoned in this case of hiring family members as parliamentary aids. he said he expected to be charged after that investigation. i think that damage has already been done. he was the front runner before the revelations about this affair broke. back quiteing quit a bit. 7 wouldn't make the may runoff. he has to get these revelations behind him. that's always spoken about for the past month. liberalism has won the day lists, a voteopulac against extreme party. parties will form a government here in the hague. the liberals, they are the victors . of thect the formation government, but it could take up to 200 days. was up, but boat still barely 12% of the vote here

our thanks to erik schatzker of bloomberg news. right now the u.k.ers are debating the right of eu nationals to stay in the u.k., a result that would complicate 'theresa may's brexit timetable. mark: 11:00 a.m. in new york, 4:00 p.m. in london, midnight in hong kong. 30 minutes left in the trading day in europe. i am mark. vonnie: in new york, i'm vonnie quinn. this is the european close on "bloomberg markets." ♪ mark: we are going to take you from new york to london in the next hour. plus, we are covering stories from washington and paris. here are the top stories we are following on bloomberg and around the world. risk-on in europe today, stoxx 600 having its best in more than a month with u.s. stocks hitting record highs. the dow smashing through 21,000. .onnie: the united states, president trump gives his vision to congress and the nation. one key question, when will he start translating words into results? as the president noted in his speech last night, billions and wealth have been added to markets since his election. we will tell you which bi

julie: erik schatzker with a very tough assignment there in mexico. for bringing that interview as well as our thanks to former treasury secretary larry summers. obviously, it is not just us here in the u.s. or you in the u.k. we are watching this health unfold as ition has broader implications for the u.s. economy. mark: he was politely critical about it and essentially saying that the border adjustment tax was dead in the water. what a great interview that was. have a quick peek at what theened at the end of equity session. we rebounded after three days of losses and stocks finished the thursday session up. what a wonderful day news wise. a big change to what happened yesterday. look at the currency board. the big data piece in the u.k. was retail sales data. as a result of the strong monthly data of 1.4% increase, we saw sterling rise against the dollar. bigoted -- dig a bit deeper, sales fell in the biggest drop since early 2010. the big news on the macro side was the take-up of the ecb's four-year loans. points, 5e, 233 billion euros. this is blo

scarlet: that was agustin carstens with erik schatzker today.r: sears makes its top focus on avoiding default on its debt. we will discuss if the end is near for the 131-year-old retailer. this is bloomberg. ♪ oliver: this is bloomberg markets. i am oliver renick. scarlet: i am scarlet fu. let's check the markets with the scepter spied a report with julie hyman. abigail: it is actually abigail doolittle -- we're looking at the s&p 500, it's best day in a month. a relief after some bearish action behind the xrt. we are looking at pbh court the stock is up 8.6%. the owner of calvin klein put up a better-than-expected quarter. there was a range above the estimate. lots of bullishness there. the stock is having its best day since september, 2014, and the strength seems to be a bit of a relief for the other retailers, especially apparel retailers. of course, it has been a difficult stretch for retail. we have ralph lauren on the high end of the rally, along with gap and abercrombie & fitch. strength for the retail space, plus nike. nike, yesterday, h

coming up, erik schatzker sits down with arne sorenson. growth, and the u.s. this is bloomberg. ♪ ♪ is "bloomberg surveillance." i am francine lacqua in london. tom keene is in new york. we need to talk about brexit as theresa may gets ready to invoke article 50 on march 29. according to people familiar to the plans, frankfurt and dublin are emerging as the biggest isners, where barclays considering dublin as their e.u. base. have chris rupkey here, as well as michael purves. it seems dublin, the normal transition capital, just because they speak english. >> yes. dublin is emerging as one of the winners. fews interesting that american banks, like bank of america and standard chartered have also identify the city is where they will have to move at least some of their employees. what is interesting is that there are several locations. not just dublin or frankfurt or paris. banks seem to be redeploying, getting ready to redeploy employees across europe. ofgives london a hope surviving as a financial center. because the act means there will be

mark: that was erik schatzker inh the early front-runner next year's presidential election in mexico.on the breaking news on yahoo! vonnie: in the last few minutes, we have learned that the u.s. has filed charges over the yahoo! hack, charging for people in connection with that. we are monitoring a news conference by the justice department officials. you can watch that live on tv . the house, intelligence chair news conference is live on tv . and you have the justice department also doing a press conference. this is bloomberg. ♪ vonnie: you are watching bloomberg. mark: this is your global business report. here is what we are following. today, china says it will keep it store open when it comes to trade, saying the current policies have helped create almost one million jobs in the u.s. vonnie: the spanish parent of chain -- marco and we look at the big coin rally. virtual currency could become increasingly important in the future. china is downplaying the possibility of a trade war with the u.s.. they say they will keep opening the door. trade andlateral investment created alm

manhattan's most storied real estate developers, we'll hear more from his exclusive enter rue with erik schatzkers his outlook for the luxury real estate market in the u.s. and also

david: now we are joined by erik schatzker, in the flesh. about donald trump for a moment. what is the transmission mechanism between having people --t he knows and trusts erik: excellent question. part of it has to do with reflation. it's an expectation people are beginning to question today, the way they weren't when harry mac eand i sat down, that it will spur economic growth. that is good for real estate. incomes go up, people are able to afford more demand demand is transformed,. that's the bet on trump. people are beginning to question it. but there's a lot about real estate development doesn't have to do it the president, and macklowe has seen those highs and lows like nobody else, even more so than donald trump. as you mentioned earlier, he lost the gm building. he acquired it famously and lost it infamously. >> he admits there is an oversupply. erik: yes. none of these slender spires overlooking central park is doomed in his opinion, but it is tougher than it was. david: erik schatzker. jonathan: from new york city, you are watching

erik schatzker is standing by with the guests. >> good morning.h arne sorenson, ceo of marriott international. , you are gathering investors to share with them the areas underscored by me, ambitious growth targets. is the macro outlook that's healthy for your industry? the revenue and bottom-line have been growing so well since 2010. >> we do this every two years and give them a three-year forecast. you think about how difficult it is to predict the next quarter how we, we say this is think our business will perform over three years. what we're laying out today has fairly anemic same-store growth. growth. 1% to 3% is no great shakes. opening aking about hotel every 14 hours for three years. rooms by 2019. >> that is a record for the company. we have a bigger platform we are growing. opening new hotels, that tends to lag the travel cycle so. >> how many of those 300,000 are already taken to the cake, and how about have yet to be contracted? >> 90% of those have been identified. some of them may not have contracts signed, but we talking to specific

joining us from erik schatzker us -- joiningng troyw, erik schatzker and -- how typical is that?hen the portfolio manager comes out and says we made a bad call. the value of his investment in target went down several years ago. he tearfully apologized on live television. bill is certainly not above apologizing. finality to the valiant because they sold out of their valeant position and now, valeant is behind them. he knowledge is that in his letter to investors. he said at the same time that he and the firm need to move on because the men of capital required to maintain the focus the amount ofthat capital required to maintain the focus and vigilance and nonfinancial investment in valeant to see it reach its potential over time is too great. scarlet: when you hear bill ackman apologizing saying he's profoundly sorry for this mistake, does it make you more or less likely to invest with a bill ackman? admitting a mistake is important. what tends to happen come unfortunately -- what tends to happen to hedge fund managers is when they've had such an abundance of success over time, the