bonus round, you can personally contact francine lacqua. e in the lower left quarter -- corner. this is a good idea. tv check it out. this is bloomberg. ♪ tom: we do foreign exchange, the litmus paper of the global system, yen stronger. one of six on euro. 106 point 90 on year old-swissie. the council on foreign relations, let me bring up the navarro quote. this is all over the internet, the china hater with the trump administration. good morning. tough, smart negotiations is the way to boost exports. saying, an american consumer buys a foreign focus imported from mexico rather than assembled in detroit, the trade deficit rises, further reducing growth. there is peter navarro, a strident bilateral simple model if you would. let's listen to some complexities. this is writing just before peter navarro, project syndicate taking a totally different view. the gop claimed it would improve u.s. trade balance while boosting domestic production and investment, they are wrong. the border tax would create massive disruptions, and here is the key p

francine lacqua is live at the scene.ishing a knife, there was a shooting incident, and a deliberate car crash. can you give us a sequence of events that occur today? francine: we are here on the south bank of westminster bridge. we understand this is where the car that you are talking about went to the bridge trying to mow down some pedestrians. he did so and then he turned left onto with -- westminster and the house of parliament. he continued mowing down certain pedestrians, and then the attacker we have been told by the head of the counterterrorism unit of the metropolitan police, one attacker where the attackers went out of the car and stabbed a policeman. we understand the policeman has died with two other victims, civilians, and the fourth person also died in this terror attack. the moment, we understand the situation seems under control. armeda heavy presence of police. security will be stepped up. scarlet: members of parliament are still in lockdown inside the building. to reason may was shuttled to a safe locati

"bloomberg surveillance" on radio with francine lacqua. brackets withcaa francine.seeds 13th. that is a scandal. francine: i'm just focused on virginia. i don't know what they're doing. very impressive. tom: i am speechless. gorsuch at this nomination hearing at the 9:00 hour. stay with us. this is bloomberg. ♪ ♪ >> it is as you were in the french presidential race. macron comes out largely unscathed. the euro should tire. u.k. inflation surging beyond the bank of england target. u.s. equity stays focused while distractions in d.c. from new york city, good morning. for our viewers worldwide, this is "bloomberg daybreak." i am jonathan ferro. david has the day off. alix: a stacked week. why raise rates now? he made a compelling argument yesterday. markets are agreeing with him. the rest of the fed agrees with everyone else. vonnie: wondering -- jonathan: wondering whether this is a protest vote. this morning, this is how we are set up in the market this morning.

surveillance.erg i am tom keene with francine lacqua in london. of the united kingdom moving from 10 downing street parliament. it is an immense day of symbolism for britain. francine: we just saw the car bringing the prime minister from number 10. it is just a couple hundred feet to the house of parliament. there is a week of remembrance of the terror attack that happened in westminster which was exactly a week ago. but today is full of symbolism and we understand the prime minister, before going on to onng questions, may brief what was in her letter. we saw her signing yesterday. the envoy to the eu have the letter at the entrance of the building in brussels and he handed it to the president of the eu in about an hour from now. tom: as we heard from sebastian mala be, germany, he thought the one to focus on in this negotiation. right now you need a news update on brexit in britain with first word news. here is taylor riggs. >> the clock starts today on two years of negotiations. in brussels, uk's ambassador will present a letter to the european

i'm francine lacqua.e's nejra. nejra: the uk prime minister formed the for -- fired the former finance minister. the upper chamber rewrote her draft law to guarantee parliament a meaningful vote on the outcome of exit talks, potentially vetoing any final agreement and stopping the premier walking away without a deal. u.k. chancellor philip hammond has some rare good news to announce in his budget. stronger than anticipated tax receipts mean government borrowing is predicted to be lower over the next five years than forecast in november. since earlyrst time 2014 office of budget responsibility has upgraded its medium-term fiscal outlook. demand for u.k. housing dropped to a six-month low in february. a measure of inquiries from potential buyers fell to 0.3% in january. economists expect home price growth to cool as inflation erodes household incomes and brexit uncertainty clouds the economic outlook. and prime minister theresa may -- may increasingly expect the u.k. to trigger the start of brexit talks lat

jamiemorgan's ceo dimon speaks we've francine lacqua -- speaks with francine lacqua later today. we are focusing on donald trump's first hundred days in office, brexit, and global banking. that conversation, coming up at 12:45 p.m. u.k. time. matt: so, right about the time that the ecb releases its statement. you are not expecting a policy change, according to be economists we have surveyed. what we are expecting is an increase in the ecb's inflation forecast, 1.7% this year from 1.3%. the key is, guy, that we look at this headline number of 2% in europe. it is the core number that the ecb is more concerned about. that is less than 1%. it is because of the transitory nature of oil prices and you saw that yesterday in the 5% drop. they are focused on unemployment, which is high outside of the ecb headquarters in germany, where it is at a low. guy: matt, i am going to argue with you about this core. look at what the output numbers are starting to signal about where european growth is going next. we will talk about how close the ecb is to normalization. how important is core, and th

still to come, jpmorgan executive jamie dimon speaks with francine lacqua'. oing to focus on trumps's first 100 days. ♪ francine: we are at the jpmorgan conference where i will be speaking to jamie dimon. the latest pickup, does it meet mario draghi's criteria? we get the assessment. and budget backlash. philip hammond is accused of breaking an election process as he hikes tax. good morning. i am here in paris at the jpmorgan conference. looking at the markets but we also need to talk about the possible political turmoil over what happens with this country. on may 6. tom: here and there and everywhere. kevin cirilli joins us at 6:00 on the uproar. gop-care, that is what is going on in washington but there are distractions in paris. francine: just a couple of distractions in paris and in europe as a whole. to two exclusively french ceos next. but first, here is taylor riggs. taylor: house republicans work through the night to take the first steps to replacing the affordable care act. the ways and means committee approved a measure approving tax income-based sub

francine lacqua in london and i am tom keene in new york. stay with us worldwide. ncine: this is bloomberg "surveillance." pen.pictures of marine le talking to business leaders. they did the venue in the middle of paris. there onemacron was hour or two hours ago. marine le pen trying to position herself more centrist, says she doesn't want chaos and says any exit from the euro will be done carefully. before the election on april 24, we will see marine le pen trying to get support from her base, from the hardliners and at the same time reaching out to get more support from people who would not necessarily naturally vote for her. our reporter is on the ground. let's get to the bloomberg first word news. taylor: attorney general jeff sessions is threatening to cut off at all police money for so-called sanctuary cities. local governments will have to certify they are not refusing to get information to federal authorities trying to out green and undocumented immigrants. if they cannot, sessions says he will cut off justice department grant. the on capitol hill could lead

dave: down to our colleague francine lacqua. give us assist of what you are seeing and what people are telling you. francine: we are really the two westminster. you can see westminster bridge behind me. i can count 5, 6, 7 ambulances. what we were told the last hour or by looking at media reports, one woman has died and confirmed by a junior doctor at st. thomas hospital. we heard from police. they said they are in full probe terror mode. what are there looking at is the person's laptop. so far, what mark was saying is the only thing we know about. it was one car that possibly could have driven through the bridge westminster bridge and 300 metersians about from here and then turn left on westminster palace and he got ed thed attacked and stabb policeman. we've heard from eyewitnesses, we understand that people were fleeing and now the situation seems pretty calm. a of police behind me and and lances. we have not seen that much more movement. david: what are we expected to hear from the prime minister? when you were talking to rob

francine lacqua in gorgeous london. snow is different now. d the economic flood --theyyork's soiree canceled school. note price there. it is amazing that neil dutta and him schoenholtz darkened nholtz darkened the door. francine: this could be significant when you look at the market will do. now, it is sort of light, so i would say no. that may be in the afternoon, you get ebb and flow. is a nor'easter, so you can get huge and very hands and serious snow. this from washington all the way up the eastern seaboard. let's get to our first word news. here is emma chandra. senaten the u.s., some republicans adjust the party should rethink of a plan to replace obamacare after the congressional budget office estimated 14 million americans could lose health coverage next year. senator lindsey graham said the party should slow down and get it right pay the cbo says by 2026, the number of americans losing health coverage would rise to 24 million. the bank of england deputy governor charlotte hogg has quit after a parliamentary committee said she did not

bloomberg's francine lacqua has an interview with jamie dimon.sation will focus on president trump's first 100 days, brexit and on global banking. this is bloomberg. ♪ ♪ david: this is bloomberg markets. trump's first 100 days are focused on policy under the new administration. bob iger is a plaintiff president trump's strategic and policy for him. the president plans to draw upon that group for advice. some dizzy shareholders are not happy that bob iger is a member of that group. activist request to step down. today with the general meeting the just concluded moments ago, bob iger had a chance to respond to that request to step down. do not believe that my membership in a group in any way endorses or supports any specific policy of the president or his administration. i think it is actually a privileged opportunity to have a voice the room. david: that was bob iger at the company's general meeting which just wrapped up a few minutes ago. moving on to what is on our radar this afternoon, at 2:30, president trump meets with elijah cummings. they w

tomorrow, francine lacqua interviews jamie dimon, ceo of jpmorgan, at 7:30 a.m. eastern.rg. ♪ jonathan: 100% lift off. a monster adp report puts the marks of a rate hike at 100%. treasuries for the biggest losing streak since 2012. u.s. commerce secretary wilbur ross has said the u.s. is in a trade work for decades. itsbull market heads into ninth year, adding 11% since president trump's election. find out why our guest says there's more room to run. a warm welcome to "bloomberg daybreak." good morning from new york city. i'm jonathan ferro alongside alix steel. over in washington, d.c. is david westin. just under 30 mins away a situation that looks a little something like this. futures up a 10th of 1% on the s&p 500 after a couple days of losses. the story is as follows in the fx market. stronger dollar story, dominated by another upside surprise in the labor market. this time from adp report as you can down to payrolls report on friday. treasuries on offer for a tall straight session with yields up by five basis points on the u.s. 10 year. that is a situation across ass

i am francine lacqua in london.ur-day losing seems to have come to an end, stoxx 600 up for the first day in five. it was down earlier, a fifth day of the client, were stretches november 6 with investors pausing ahead of the fomc meeting next week. they day in china and japan. china told us imports surged from a year earlier and the -- a trade deficit in february. analysts said seasonal factors withy explain the swing imports jumping 38.1%, double what economists projected. exports slipped 1.3%. this is in u.s. dollar terms in february, less than the estimated 14% expected which left a trade deficit, the first negative reading in three years. economists said results were skewed because of the weeklong lunar new year holiday. big day in japan, economic growth, we had some, revised upwards for the fourth quarter in 2016. export driven business spending .ffset sluggish consumer demand gdp expanded 1.2% on an annualized basis from the previous quarter and the three months through december, japan's economy expanded for f

francine lacqua will bring ou he exclusive interview.will change in french politics, or will they, this morning. this is bloomberg. ♪ ways wins. especially in my business. with slow internet from the phone company, you can't keep up. you're stuck, watching spinning wheels and progress bars until someone else scoops your story. switch to comcast business. with high-speed internet up to 10 gigabits per second. you wouldn't pick a slow race car. then why settle for slow internet? comcast business. built for speed. built for business. francine: switching strategy. deutsche bank's ceo rips up his own script in his admission that the plan has flopped. >> we want to move back into modest growth mode, controlled growth. we thought it would be helpful to add capital. francine: peugeot maker psa agrees to buy gm's european union, creating a continent's second-largest automaker. and fillon under fire. the french presidential candidate vows to fight on. we speak to fillon's economic advisor shortly.

francine lacqua with her bracket in london. it is lost in translation? francine: a little bit.rities are playing, that it is a fun it on the can do terminal and all the money goes to charity. almostbriela santos canceled on us because penn did not make it into the bracket. a terrific charity involved on the brackets. we need to get to briefing our first word news. here is emma. emma: a new twist to president trump's claims he was wiretapped. british officials complained after white house spokesman cited a fox news report saying that president obama enlisted british intelligence to spy. they are denying the report. ofnding firm in the face opposition to their proposal to replace obamacare. paul ryan told lawmakers he will not change the main pillars of his plan. he is considering changes like adding a work requirement for medicaid. others are looking to rake the lockdown over the bill. theresa may will issue a rebuke sturgeon for another vote for independence. she will stress commitment to the union between england, scotland, wales, and northern ireland, saying it is not the tim

with me, francine lacqua. rning, and business as usual in their parliament. francine: right, tom, business as usual. the message from the prime minister is this will not get us down, terror attacks, we will dailyon and live our lives. some of the rates are ongoing, tom. tom: there have been a lot of arrests not only overnight but in the last 24 hours. francine: yes. i believe there are about nine people in custody, again, one woman was released on bail. we have the name of the attacker, and it is an open investigation. we were briefed by the police on the head of counterterrorism about an hour ago. tom: right now to our first word news this friday, here is taylor riggs. taylor: tom, francine, we will get to london during the meantime, in the u.s., president trump says that is now or never. he told house republicans vote today to replace the obamacare rejected,t bill, or and the president will move on to the rest of his agenda. made toute changes were win support from conservatives. still, it is not clear if the

coming up tomorrow, francine lacqua has an interview with jamie dimon.will focus on trump, brexit and global banking. this is bloomberg. ♪ mark: the ecb decision is tomorrow. will mario draghi stand strong on stimulus? tomorrow they will bring you live coverage of that conference. this is bloomberg. ♪ vonnie: you are watching bloomberg. mark: this is the global business report. here is what we are following today. are struggling to rebound despite agreements from opec and non-opec members to cut production. vonnie: a drop in fourth-quarter earnings. the ceo says they are not ready to put the company up for sale. mark: a quick look at the take of quantitative easing around the world. european central bank started the bond buying program six years after the u.s. -- did it work or did they wait too long? russia saudi arabia and are presenting a united front. they both say the agreement between opec and non-opec members will work. still, they'd knowledge that inventories are not falling as quickly as they expected. earnings as growth from delivering online o

francine lacqua got an exclusive interview with jamie dimon at 7:45 a.m. eastern, 12:45 london.loomberg. ♪ york, i'veon in new :00 p.m. in london, and 1:00 a.m. in hong kong. welcome to "bloomberg markets." ♪ vonnie: from bloomberg world headquarters in new york, we will take you from washington, d.c., to london and frankfurt. here are the top stories around the world. in market, u.s. stocks trading after a two day slide. hiringees in the u.s. the most since three years. treasuries are headed for the longest losing streak in five years. 8th straight an session. hour, ip later in the will be speaking to alisa w od. -- wood. the outlook for private equity and more this international women's day. we are halfway into the trading day today.

i expect that to be -- nera: that was pier carlo padoan in an inclusive interview with francine lacquaomberg business flash and some of the biggest stories in the news right now. retailer fast fashion h&m fell to a four-year low. this we discover the magic of the second quarter by more than last year to reduce inventory. they suggested that reaching its sales targets for this year will be challenging. jpmorgan is looking to expand in dublin in the wake of the brexit vote. according to people familiar with the matter, they are in talks to buy an office building don't have enough space for more than 1000 workers. jpmorgan says other options are on the table and no decision has been made. thousands of former trump university students will get refunds from a $25 million settlement that donald trump to before he was elected president. a federal judge in india go is said to have approved the deal today. the students sued for fraud. businesshe latest flash. battle of the charts. tournament time. we are looking at the biggest surprises in the market. cannot wait. this is bloomberg. ♪ ♪ nera: i

i am tom keene with francine lacqua on a busy week. thing in europe you are most focused on? francine: spreads. french spreads and swiss spreads. it gives us the image of monetary policy. gives us a sense on how the market perceives political risk. i thought that was extremely important. a lot of the right wing concerning politicians are plateauing in terms of popularity. tom: we will keep you up-to-date on that as we can across the bloomberg. right now, here is emma chandra. emma: u.s. lawmakers say they haven't seem proof of trump's claim that his predecessor tapped phones. senator john mccain spoke on cnn. either retract or provides the information that the american people deserve, because if his right assessor violated the law, we have a serious issue here. according to abc news and the associated press, the justice department gave them until today to provide evidence that obama tapped phones. todayuse of commons votes on prime minister theresa may on the brexit process. they have a say on what happens if the talks end. he wants the

was the deutsche bank ceo along with francine lacqua.out, president trump's goal of 4% economic growth, is it feasible without foreign-born workers? we will go to immigration and the economy next. this is bloomberg. ♪ vonnie: this is "bloomberg markets." i am vonnie quinn. has a 4% gdpmp growth target for the economy but as the population ages and retires, can this be a cop was without foreign-born workers? particularly with the u.s. labor force growing at just .5%. we have an editorial writer covering economic and finance for us. restrictions as to wages and growth in wages. the argument being made out there is if there were few and foreign workers, wages would go up and that would be great for the economy because we would spend more. mark: actually, in the short-term, that might happen. it might bring more people into the labor force. native born laborers into the workforce. it may boost wages by limiting the supply of labor. eventually, the economy would bump up against the constraint of supply. you will get a slowdown or unwanted inf

joining us is francine lacqua.shington, the federal editor in government and economics and social justice as well. our font of wisdom on the supreme court, help me here with this moment. will this be the final conservative tilt as mr. gorsuch is made a justice of the supreme court? guest: all signs point to that, tom. his strategy going up on the hill is to just not make any mistakes. don't say anything that might create a firestorm that could create an environment where the democrats who are promising to be very kept school of his candidacy do things that prevent himself sitting on the supreme court. but he's going to be there it looks like. tom: in the modern era, does is remind you of j.f.k., david solder and others, if presidents get disappointed by how judges react. why is the script any different here, at what point does judge gorsuch disappoint the president? marty: it will be interesting to see because for instance the immigration order is headed to the supreme court and it's sort of an interesting converge

jpmorgan ceo jamie dimon told francine lacqua. on the act -- impact of the administration on growth and business. jamie: here is what is positive. the at the people on ground, top professionals in the military, defense, secretary of state, secretary of treasury, economic adviser, serious people with deep knowledge and experience. their mission is to have a growth agenda and that agenda is reducing corporate taxes, starting to build better infrastructure, reducing cut growth. that job creation. you saw a jump. probably because of the progrowth agenda. francine: you have any doubt he will follow through? jamie: republicans have the house, they have the senate, the have 30 plus governorships. they have a better chance of getting those things done. i don't know the exact timetable and the choice has to be made. progrowth --th and pro business is there. but the democrats knowledge corporate taxes too high in america. everyone wants infrastructure. people acknowledge it is time to look at the regulatory regime and we look at it and reca

i am francine lacqua in london and tom keene is in new york. we have snap. tom: nobody cares. lking emerging markets and telecom. tom: i have snapchat for three weeks and i cannot figure it out. taylor riggs what try to snapchat me and i never got it. francine: great babysitter snapchat. jim: you are not cool enough. will get it so we can go back-and-forth on snapchat. francine: getting some -- with theebruary ecb will or will not do with bond purchases. before snapchat, let's get to the bloomberg first word news. from snap to politics in the u.s., more questions about donald trump's residential campaign and alleged ties to russia, jeff sessions had conversations twice with the russian ambassador while a surrogate for the trump campaign. in the senate confirmation hearing, jeff sessions denied contact had occurred. anyonessions -- >> affiliated with the trump campaign communicated with the russian government in the course of this campaign, what will you do? sessions: i am not aware of any of those activities. i have been called a surrogate at a time or two in the campaign and d

i am francine lacqua in london and tom keene is in new york. on the u.s.s comey, the french elections. italy mumbling under with concerns. tom: a lot of speakers with the american fed, mr. dudley in london. am i right in that he and carney are together today? matt: yes, -- francine: yes i think you are. let's get to the bloomberg first word news. >> james comey

on bloomberg dab digital radio, you will be hearing "surveillance" as well with tom keene and francine lacquauble whammy of "surveillance." always a good thing. that is new york. it is waking up only four hours behind us. plenty more still to come. this is bloomberg. ♪ francine: a fed hike on wednesday is priced in, but attention now turns to the speed of policy tightening. back to the commons. theresa may will be hoping tory mp's fall in line as she looks to quell a revolt from within her party over the brexit bill. and diplomacy needed. hostile rhetoric between the turkish resident and the dutch administration. good morning. this is "bloomberg surveillance ." i'm francine lacqua in london. tom keene is in new york. we lose an hour in london so i have the pleasure of tom keene first thing in the morning. donald with angela merkel tomorrow at the white house and we have to look at the dutch elections. tom: over the weekend, the theuage from a distance in dutch elections involving turkey, really extraordinary. headlinest makes the in europe today. francine: we will have plenty more on that. fi

jamie dimon speaks with francine lacqua tomorrow in an exclusive interview.us on resident trump and global banking at 12:45 p.m. u.k. time tomorrow. this is bloomberg. ♪ ♪ guy: good morning, welcome. you're watching bloomberg markets. this is the european open. the first cash trade of the session coming up shortly. what are we watching is wednesday morning? aiming to deliver a budget to bolster the british economy ahead of what he describes as the economic roller coaster. we will speak to an analyst that sees another big leg lower for the pound. promise the moon but give [inaudible] imports surge while imports --

francine lacqua. manus cranny seeing history in the netherlands yesterday? story in the netherlands and a sigh of relief in the market. touch liberals defeated geert wilders. it has a little implication for the french elections coming up. tom: angela merkel had her positive take on it. terrific news flow. here is in the chandra. have two federal judges locked the president trump travel ban before it could be enforced. in hawaii and maryland they muslims.he ban against the judge in hawaii cited donald have's words on the campaign trail. president trump without the thee the ruling all way to the supreme court. historic budget cuts across the government for an increase in defense spending. the state department cut by 20%, the environmental protection agency cut by 30%. the pentagon would be increased by 10%. senator graham called the budget dead on arrival. such voters through a line in the sand over the spread of populism giving the liberal in the parliamentary election. other pro-european parties turned away a challenge from the freedom party of geert wilders.

i'm francine lacqua in london.

good morning, this is bloomberg surveillance, francine lacqua in in london and tom keene in london.s after the french elections. tom: i notice a weaker dollar and we'll go to that in a moment. another week, we need a weekend to recover from last week and we stagger into a lot going on. the french debate is tonight, right? francine: tonight, five candidates, three hours. tom: is five candidates unprecedented in france? francine: five candidates is unprecedented because you have a lot more people from the outside. the first round you usually

if you have a bloomberg terminal, you can watch francine lacqua live. i am dead.e is lord carrying on japanese remorse. bonus round, you can come down and email francine lacqua directly. how cool is that? ♪ pound sterling back to 1992. it is not a pretty picture. francine: the london desk is dazzled. lord king, what is the common misperception? mervyn: the most common myths percent -- the most common misperception is that the referendum washe purely a response to the referendum and no longer had economic effect. after that fall, trade weighted sterling went back to exactly the same level as it was on the day i left the bank of england. tom: we would like to congratulate you on driving sterling lower during "bloomberg surveillance." we will continue with mervyn king on radio. 121 point 88. we are trying to get down to 119. maybe we will do that. stay with us. this is bloomberg. ♪ ♪ jonathan: repeal and replace. the republican party unveils its long-awaited answer for obamacare. politics continues to affect the fx market. the sterling slips to a low. cb bid. the cen

bank ceo was deutsche john cryan sitting down with francine lacqua. imagine this time last year? would it be open? david: he has been waiting for this. jon: joining us for now on the of the oled risk advisors. what has changed for deutsche bank? >> they were likely to get this up in the stock price, mostly because of external factors, the donald trump factor, president trump. they raise capital at the best price possible. this is an opportune time. go? where does the capital the market cap surround 24. they will raise another a billion. what will they do with the? -- do with it? >> we have been much more bearish. price,tsche bank stock we think they don't have a lot of places to go with it. the great banking race is over 1989. world that began in basically, german banks -- deutsche bank is one of the big the winners, u.s. brokers like goldman sachs, morgan stanley. we do not think this capital rate gets them higher in the u.s. and globally. they are not viewed as a trusted value added mma advisor to technology companies and other fast growth companies

we can say across to francine lacqua now in paris. she is now with jamie dimon. : we are here in paris at the 2017 j.p. morgan global markets conference. iss is where mr. jamie dimon here with us. thank you for joining us. we talk about economy, business, politics. what are your clients most worried about? jamie: first of all, happy to be here.unbelievable day of the conference with some of the best investors in the world, best speakers in the world. business and economy go hand-in-hand so if you look at the economic indicators around the world, america is doing ok, europe is doing better than people thought, japan is doing better than people thought. the economic indicators are pretty good. i think business in the u.s. is going confidence because of policies. we have tax policies, and for infrastructure policies. that will be more around trade, whether we get that right, north korea, and things like that. francine: are you confused about what this means? what our president and his and his vision going to do for the european economy -- his administration going to

dimonorgan chase's jamie says -- as part of an inclusive interview with bloomberg's francine lacqua at the jpmorgan 2017 global markets conference in paris. francine asked jamie for the president trouble get regulations right. >> i hear people say we had a crisis. no one is asking for that. we want to be a reason voice to look at those things inside not just dodd-frank but regulations that need to be recalibrated, coordinated. there are two main people involved in mortgages. it is hurting lower paid, first time buyers, small business owners. we need to do it for the sake of all people. no one could rationally say it was some of proper fair, coordinating consistency. have an intelligent conversation about what is working, but the side effects is, on intended consequences. if you don't have a healthy financial system, it will not have a healthy economy. just keep that in mind. it is good for the citizens of the country, not the financial players. they are damaging the financial system is a bad idea if you want jobs and growth. dialogue you feel this with the administration is healthy and

selling part of it as it management business and francine lacqua spoke to cryan earlier about his newategy. >> i described it as a capital raising. we needed to finance it so we would have needed a capital raising. would've year ago it been much more difficult for us. a lot more uncertainty. i feel much more capital sitting in the seat i said this time this year than i would have done last year. feeling much more positive. the environment is good. we are seeing growth again. to some extent, we have done a lot of the hard work. there is still a lot to do. if the regulators are listing, we are focusing on improving our efficiency. there is going to be a lot more fun as we develop the business in the future. thatine: was it unicredit distilled the fact there was appetite for some of these share sales? >> that would certainly have been a factor. also, our shares hit a low at the end of september, i guess. this sort of double since then. the markets look as though there is momentum behind the banking sector. it looked possible as well as desirable for the two met. francine: how many job cu

we have jamie dimon on tomorrow with francine lacqua 7:30 a.m. eastern. check it out.s is bloomberg. ♪ ways wins. especially in my business. with slow internet from the phone company, you can't keep up. you're stuck, watching spinning wheels and progress bars until someone else scoops your story. switch to comcast business. with high-speed internet up to 10 gigabits per second. you wouldn't pick a slow race car. then why settle for slow internet? comcast business. built for speed. built for business. vonnie: a sunny day out there in midtown manhattan. i'm vonnie quinn. this is "bloomberg markets." let's get the headlines on the first word news. mark: president trump met today with steve jobs. president was expected to discuss immigration and education with jobs. his fortune is valued at $18 billion. he has created a foundation that supports immigration from education and incremental reform. -- and by mental reform. thes comey said cybersecurity fight could be compared to the fight against terrorism. -- and environmental reform. the threatsey said are too vast, too big

moved into coffee country -- italy, the world popular largest coffee chain opened in milan, and francine lacquah the ceo who touted the company's culture and core values. know that starbucks has created a business plan over the years that was based on the balance of profit in social impact. offered health insurance in college tuition. we gave housing allowance are employees traveling long distances. view isy decision in my economic. mission is president financial performance, but i do not wake up every day saying, how are we going to make more money? i wake up every day saying, how can he really create a deep sense of loyalty with our people and our customers based on our values, principles? we are living in the world today that is very fragile. there is a lot of uncertainty. we have an obligation and a responsibility as a company to add value to humanity. and if i could say it in my own -- this is a time where i think we as private citizens and is businesspeople need to build bridges, not walls. francine: is that why you announced the hiring of 10,000 refugees. ? decisioneeting -- that was not

francine lacqua sat down with howard schultz who touted the company's culture and core values. >> peoplew that starbucks has created a business plan over the years that was based on the balance of profit and social impact. first company to give equity in the form of stock options. companies that have health insurance to every employee. two years ago, free college tuition. in china, we gave housing allowance to our employees, our partners traveling long distances. not every decision in my view is economic. i think the price of admission has been performance but i do not wake up every day saying, makere we going to more money? saying, how can we create a deep sense of loyalty and our customers based on our guiding principles and listen, we are living in a world today that is very fragile. and there's a lot of uncertainty. and i think we have an obligation and responsibility as a company to add value to humanity and i could say it in my own parlance, this a time where i think we as private citizens and as businesspeople need to build bridges, not walls. francine: is that why you announce th

he said that in an exclusive interview today with my colleague francine lacqua at the global marketse in paris. francene asked him if he is confused about what the trump administers and is going to do for the economy. jamie: there is what is positive, ok? look at the policies. you have the tweets. and then you have professionals in military, defense, state, gary cohn, serious people with deep knowledge and experience, and their mission is to have a growth agenda, and that agenda is reducing corporate taxes, building better infrastructure that we desperately need, reducing regulatory regime which has held back growth. i think the growth agenda is good for all aricans -- middle class, low-paid, job creation. business confidence jumped a lot. probably because of the progrowth agenda. francine: do you have any doubt he will be able to follow through? jamie: i've been watching politics like you for years. republicans have a house, the senate, 30-plus governorships. they have a better chance of getting those things done -- i don't know the exact timetable. from the positive growth and pro-

. ♪ francine: bloomberg surveillance, francine lacqua in london.the largest lender by assets, they haven't expected increase in four-year profits. costs decline. other chinese rivals posting better-than-expected results. the growth is poised to accelerate this year as low margins stabilize. h&m the analyst estimates. store openings helped offset purchasing costs. they will introduce a new store brand with the first outlet opening in london. jeff asus has jumped past warren buffett to become the second richest person. that's after he added $1.5 billion to his fortune yesterday as shares jump the day after they plan to buy the dubai-based online retailer. of $75.6net worth billion. francine: samsung has unveiled its new smart phone. it is the galaxy s eight. caitlin reports on the campaign. samsung has unveiled its new android smartphone called the galaxy s numeral he. it's got to get this right. that's because the last major loss -- launch and disaster. videos like this were posted, showing it overheating and catching fire. issues with faulty batter

i am francine lacqua in london.ith me on the program, catherine hughes, a managing director at goldman sachs and the global head of fx strategy at bmp. the brexit show is at 9:30 u.k. time. we talked to the former u.k. chancellor and the former justice secretary charles faulkner. before we get to the markets, we are getting a little data out of the eurozone. this is what we are seeing in terms of pmi data. expected.etter than let me pull it up for you. .t is rising to 55.5 just short of estimates but it is still an increase from the month earlier. that is the impact it has had on euro-dollar. well, not any impact. 105.17. this is your data, everything has to do with repositioning. we had a pullback in u.k. and u.s. equities yesterday. european stocks falling lower a touch. -- it is all about janet onlen and her weighing in the path for interest rates, that german two year yield, minus point 84. let's get to the first word news. attorney general jeff sessions has removed himself from investigations into russian influ

-- italy, the world popular largest coffee chain opened its first roastery cafe in milan, and francine lacquastarbucks , touted the company's culture and core values. howard people know that : starbucks has created a business plan over the years that was based on the balance of profit and social impact. the first company to give equity in the form of stock options and first company who offered health insurance to every employee and college tuition. we gave housing allowance are -- to our employees traveling long distances. not every decision, in my view, is economic. i think the price of admission performance, but i do not wake up every day saying how are we going to make more money? i wake up every day saying, how can we really create a deep sense of loyalty with our people and our customers based on our values and our guiding principles? we are living in a world today that is very fragile and there is a lot of uncertainty and i think we have an obligation and responsibility as a company to add value to humanity. in my own say it parlance, this is a time where i think we, as private citizens

. >> this week, francine lacqua sat down for an exclusive interview with jpmorgan's ceo, jamie dimon.im what will president trump do for the economy? >> here is what is positive, look at the policies, not the tweets. look at the people on the ground, top professionals in the military, defense secretary, secretary of treasury, serious people with deep knowledge and deep experience. and their mission is to have a growth agenda, and that agenda is reducing corporate taxes, starting to build better infrastructure, which we desperately need, reducing some of the regulatory regimes that have held back growth. i think it is good for all americans. middle-class, job creation. business confidence has jumped a lot. the more than it has jumped before and our life, probably because of the progrowth agenda. >> do you have any doubt he will be able to follow through? >> i have been watching politics like you for years. the republicans have the house, the senate, 30 plus governorships. they have a better chance of getting those things done. i don't know the exact timetable. , the euphoria from the p

i am francine lacqua in london. tom keene is in new york. first of all, you made it in.nowstorm, it opened so tom could make it. it reminds me of the winter and the united kingdom, or something like that. where i grew up, this is partly april. but seriously, it is a big storm. it is just starting. school is out. and we are all here, looking

i am francine lacqua in london. with me on the program, catherine hughes, a managing

francine lacqua is also on set this morning. good morning. seeing is here. -- a talk a little of little bit about that. how did it happen? what was it like from your side to see that happen and can you give us a sense of perspective from the generali point of view? .> we're very surprised when we heard the first noise, we were all surprised that we are very confident that at the end, nothing serious would happen because actually, we never thought there would be interesting synergies for both companies. spokene: you have never about it? do you think you are a takeover target question mark talk about , what does itow mean for speculation? every meeting cute get asked to you will merge with? philippe: we are not going to merge with anybody. targetnot a takeover because our plan is creating value for shareholders. that is why we showed our 2016 results. ,uy: the bank insurance model very few cases of it working well. is it a model and in any way that has possibility? bill: banking -- philippe: the bank of france is mainly selling insurance produc

francine lacqua in london. this is bloomberg. ♪ the pullback. the yen rises.w crude oil lower and inflation trade takes a hit. the central bank is called on to continue the federal high court while trump battles over health care. and another blow to francois fillon. falling further behind in the polls after allegations of financial ties to the russian government. good morning, this is "bloomberg surveillance." tom, we have the french election, brexit and i know looking at your president in the u.s. and pullback on stocks. tom: the pullback on stocks is correlated. the trump reflation trade -- we will show a chart later -- it has come back to critical support over the next few days. they really matter and the reflation.on trump francine: i have a chart questioning whether this has to do with donald trump.