but i am told, keep an eye on gary cohen, a very adventurous former coo of goldman sachs was runningnal national economic conference, insiders say he is already taking charge of much more than just the economy. interesting, because the early policy about potential fights only got more attention today when reince priebus was highlighted suggesting that top republicans want him to bring stability to mr. trump. this idea that he needs a grown up minding him is not likely to set up well with the president-elect, who has already been teasing priebus and private about his loyalty, by reminding people that the former rnc chair urged mr. trump to drop out of the race after the access hollywood tape emerge. another big story that is just breaking, just confirmed with the senior transition source, we expect tomorrow, sonny purdue, the former republican governor of georgia will be nominated as agriculture secretary. john roberts. i'm not told by a senior transition source, we can it be expect him to named tomorrow. he is the last person the cabinet picked. they are pushing hard in the trump tra

gary cohen, president of goldman sachs, finally. as if they check he had to write. i want to thank you all very much. linda mcmahon is the director, she is a fantastic woman. we are waiting for her approval, we are many poor -- waiting for many approvals. deliberatelycting slow. they are not behaving will at all. that is why over the last many years nothing got done in this country. , were moving things along are moving them along fast. they actually had a very good day yesterday. in terms of homeland security. we had to make the move and we decided to make the move. it would be nice if we could have that cabinet which is outstanding. it is going through a lot. in terms of what they are being put through. senator jeff sessions, they made him wait an extra week. they did it for political reasons. they just made him way. i said why did they do that? it is just politics. i noticed that chuck schumer had they tears yesterday. i will ask him who is is acting coach. i know him very well. i do see him as a crier. if he is, he's a different man. he as a 5% chance that it wa

>> gary cohen.> did you come to any conclusion, any plans? >> look, i think most people try to do things to get the country to grow faster, get more jobs for americans. we want to do our part to do that. >> are you optimistic? >> i'm hopeful. >> what would be your part to get help? >> proper trade policy, proper tax policy, proper employment policies. things that help create jobs for americans. small business. wages, et cetera. >> financial reform? >> some of that, yeah. >> and who did you meet with, sir? >> gary cohen. who i've known for a long time and i think he's a real professional and a great person to have try to do these things. >> are you going to meet with the president at some point? >> hopefully at some point. >> thanks, guys. >> thank you. >> thank you. yeah. good luck, folks. >> reporter: once again, jamie dimon, ceo of jpmorgan. kelly and mike, part of the calf v cavalcade going by. >> guerrilla style approach. jpmorgan, ceo, michelle. it was interesting that he met with gary cohen. a

gary cohen. but jay this clayton is clearly prepared for the job. he is somebody who doesn't have the same prosecutorial that there was now. so maybe less of an emphasis on enforcement, given anderson option. dru donald trump has two seats to fill. >> an update on the tweet from mr. trump, regarding the intelligence community. >> tyler, this is a potentially dangerous rift between president-elect and the u.s. intelligence community which is coming up here friday on brief him on the russian election hack. in the tweet last night, he mocked the intelligence that they had collected. suggested that they push the briefing until friday to get their stories straight. and this morning, he tweeted out statements from julian assange, a fugitive from justice, being called a high-tech terrorist. this is something that will affect autumn directors coming up to broef him. >>> rex tillerson met ahead of his confirmation hearing. according to reports, republicans are positive on the selection while democrats want more information on his record and his relationship

gary cohen, trump's pick to lead the national economical council, his payday of more than $100 millioneaving goldman. goldman paid $65 million in cash for bonuses he was owed. it also sped up stock rewards. and lifted $23 million in stocks so goldman could sell them. he will have to pay up. and he's expected to act as the president's quarterback on the economy. he works inside the white house and helps frame the debate on the biggest economic issues. >> it turns out investment banking might have been a good profession to go into. >> yes, if you're a good investment banker. >>> a federal judge said insurance giant aetna lied. a judge ruled that aetna's real motivation for dropping coverage is specifically relating to its business with humana. shares surged after trump was elected. >> "early start" continues right now. >>> breaking overnight -- president trump set to take executive action to start building that wall along the border with mexico. very same moment the delegation from mexico visits washington. >>> all right. the president and his spokesman continue to say things that are no

questions mostly harvey schwartz was the chief financial officer and will be the copresident as gary cohenarts to join the trump administration. so he has been handling the call with randy sean evers who comes from the chief information officer role. background thought of bringing to the cf role as well. ,ike many of its competitors strengthening and bond trading revenue. fixed income currencies and .ommodities on the equity side there was more weakness. schwartz come on the call did say that there was one of. he said he would not read anything to this would not read onthing into this quarter the other hand he expressed optimism. he said there was second half thatism among client and there is be continuing into the early part of this year. when asked on the call, where you get -- he said it's a matter of conversation that their employees are having with clients every day around the globe and that they are seeing more positivity from their clients. also he was asked about regulation, any changes that .ould bring he says we could see to lay of some m&a i have in terms of he says this is a na

gary cohen heading to the trump white house with more than $100 million.dman said in a filing it had made money available immediately including stock awards and long-term bonuses that earned over 25 years at the bank. verizon still to rely on nonprofits from the wireless business. fourth-quarter earnings report showed the wireless business is not cutting it as competition from sprint and t-mobile continued the bottom line. more trouble for retailers and small owners rush to get out at the mall business. some of the u.s. rj shopping centers to block away from troubled locations rather than restructure debt. nicole: at mac lovers, dreams are about to come true. mcdonald's plans to give away 10,000 bottles of big mac special sauce tomorrow as they celebrate its two new big mac sizes for those who want a big mac, but don't want to overwrite calories, the junior offers a single patty burger. those who want to overindulge can order the grand which comes with extra cheese and large patty. mcdonald's is launching a big mac atm that spits out workers free of charge

everyone from gary cohen, the future head of the national economic council, very senior figure theret has an estimated net worth in excess of $500 million. steve education secretary is also incredibly wealthy. elizabeth mcmahon, obvious league we know her from the wrestling organization. so these people have a lot of money. we look at where that charitable giving has gone. there are a lot of the things you would see on the charity circuit, and it is something that will be scrutinized by people coming in, although some won't have confirmation hearings, but it gives a glimpse into the way they spent their own personal money. oliver: it gives insight into the different viewpoints of the trump cabinet. we spoke to our correspondent to coverage of the story. >> there were two things in our head as we started looking at this, just how rich this group of people is. this is a cabinet that is not even full and already the net worth is about $500 billion. right after the election, foundation hads a filing online that said we made a big mistake. there are rules guiding nonprofits meant to preve

he's going to join other trump appointees with wall street ties including stephen many chin, gary cohen in the cabinet. president elect continues to work on filling the administration and not ration day just over two weeks away. adam shapiro has the very latest. >> good morning, brian. good morning, the poll. the year started with his latest nomination. that would be robert slate has there. he is nominating to the next u.s. trade representative. this is a job with what she is familiar. white house are served in the bush administration as a deputy u.s. trade representative and he's negotiated more than two dozen bilateral agreements on everything from steel to green. he is also a trump supporter and gave her a tougher posture with countries like china and mexico. and speaking of mexico, targeted general motors and its operation in the country south of the border. the president-elect tweeting general motors suspended executive model of chevy cruised to u.s. car dealers tax-free across border making u.s.a. pay big border tax. general motors responded saying that chevy crew sedan is though

i know steve mnuchin, gary cohen, these are successful, smart, mobile -- >> you tend to take a much more aggressive attitude towards china. there is an economic adviser. you can look at china and they there are some flaws and we should do some things. i'm saying the statements and real policy has yet to be done. the real policy would be rational and thoughtful. you could look at any trade and say it was not completely fair to america. the person who has come here to defend free to trade was actually xi jinping. youou worry about that? do worry about the chinese-american side of it? that donald trump forces thinking to do something -- >> i am not worried about it. i think people are -- the president-elect also knows -- he negotiates with people, but when you build the building you need engineers, contractors, design work, that is what the trade policy is. it would be much more detail. i am hopeful that is what will happen. i don't know for a fact. >> trade is deftly the area that worries you most? >> think they are focusing more on the one-liners and the fact that there are a lot of peopl

reince priebus, jared kushner and gary cohen. steve bannon.s a who's who of the power players in d.c. that is where the decisions get made. the group focused on taxes and infrastructure and obamacare. no word on which they will push through congress. this is the first step in merging two plans. the tax plan on the campaign trail and the republican plan called a better way. there are differences. from business tax rates to deductions and credits. i'm telling you right now, that is the most important thing today for corporate america. they are watching what that group of people with paul ryan and the committee is doing with the border adjustment tax to change how imports and exports are taxed. trump threatened tariffs which protecting u.s. manufactures. paul ryan and others think it could be a better way to disincentivize companies from putting jobs overseas and not raise prices on consumers. that over italian food last night. the key players. >> tax reform may be something they find more common ground on. maybe easier for them to hammer that ou

they met with house speaker paul ryan and gary cohen.he meeting included reince priebus and stephen bannon who clashed with the speaker while leading breitbart news. ryan is going to walk trump's aides through the plan for tax reform. while there's an agreement on tax cuts and simplifying the code, there are disagreements on economic priorities like trade and entitlements reform. those could pose a challenge to a budget agreement. on sunday reince priebus said trump is committed to keeping his promises. >> i don't think president-elect trump wants to meddle with medicare or social security. he made a promise in the campaign that that was something he didn't want to do. >>> well, with questions over ethics disclosures continue, the senate republican leadership delayed the hearing of one of president-elect trump's nominees. education secretary betsy devos was scheduled to go in front of the hearing tomorrow, but that has been delayed to accommodate the senate's schedule. the boss, a billionaire, is one of trump's several nominees who has n

. >> one of his economic advisors, gary cohen, is a democrat. >> i like when he says i'm a former governor. i like when he says he likes to keep jobs in the u.s. go after the companies that are exporting. i think you do it with trade initiatives, with diplomacy. you don't threaten them with a border tax. this is why i want people like kudlow -- >> i agree with you on the border tax. i'm opposed to it. >> the adjustment tax. he tweets about a border tax which we assume is a punitive import tariff. he's not precise with his words. that's different than the border adjustment tax. >> i thought he was talking about the border adjustment tax. >> therein lies the problem. what is he talking about? >> actually, i'm against the border oo justment tax. if you're concocting on air a border tax, i'm against that, too. >> the international monetary fund has projected economic growth because of trump and the u.s. i give him that because maybe tax policy, infrastructure, bill, the growth will get better. china will get -- i'm for that. i just want free trade. free open markets. >> we just watched the pre

the wall street line was gary cohen's there from goldman sachs, going to keep this thing on track, going to move it through to sort of the nut of what we want. and maybe the priorities are, in fact, what the priorities were in the campaign, which is this stuff that's being enacted so far. so again, i think we overplayed trump as a force for the rally, and we may perhaps overplay it if we get a severe pullback. >> as you said on twitter, there's a natural symmetry to the universe. >> yeah, look, it's the obvious story line in front of all of us, so that's what you latch on to in terms of the market moving. >> thanks. of course, leaders across silicon valley speaking out over the weekend about the president's executive order on immigration. our josh lipton is out west at one market with some details. hey, josh. >> reporter: well, carl, perhaps no issue is more critical or personal to silicon valley than immigration. immigrants play a key role here, including running some of the most iconic tech companies like goog google's sunneder patchi who sent a memo to his employees saying it's painfu

other person one making headlines, gary cohen, trumps big to be director of the national economic counciladlines because of his payout from goldman sachs. goldman itself lifted restrictions or accelerated delivery of payouts on about 120 $4 million in stock and cash rewards. it means that he gets $20 million in pay for all of 2016, including $18 million in variable compensation and $1.85 that totalary to get amount. it is interesting as we move ahead with these picks that continue to get confirmed here, mr. trump rose on a wave of populism, and when you hear more and more about this goldman sachs executive, and three total and his, it will be interesting to see if there is any backlash against the populist fervor he rode to power. rishaad: thank you very much. still ahead this hour, revolt from within, theresa may with the new stumbling block in her brexit battle. plus, can commodities continue their gains? ubs certainly think so. we will be finding out why. ♪ a look at bhp billiton shares, 18 month highs after releasing production numbers for the second quarter. paul allen has the detail

rex tillerson, mike flin flynn, steve minuchin, gary cohen. the entire band that they'll deal with are new people on street, not part of the washington establishment. it terrifies everybody. that's why he was elected. this is a president that is so in tune and so smart, drawing clear lines. there's nothing to worry about. except now we'll have bilateral discussions. we have outsourced all our trade policy to these third party enti entities. the trepidation is we have somebody who doesn't have a handle on the bureaucracy yet. >> doesn't owe them anything? >> doesn't owe them anything. by the way vice president-elect pence knows how to weave that tapestry with those individuals. >> two big issues that they want to get done. reform obamacare and the tax code. individual tax code and the corporate tax code. you expect criticism from democrats, right, because he's a republican. health care is a quagmire. they should have done corporate tax reform. why are they gumming up corporate tax reform with this border adjustment thing? it's so complicated. a

. >> i wonder what steven mnuchin, gary cohen, what they think. >> goldman sachs alone, jeff, michelleeah. i bet they're wondering as well. my check please, guys. i called the mexico city bureau over our sister network telemundo, what's going on there. the big story, what is car loss flynn going to say. then this. the vanity fair cover in mexico features melania trump. the coincidence there, the irony was astounding to them. >> absolutely. good stuff, michelle. thank you. thanks for watching "power lunch." >> have a great weekend. "closing bell" starts right now. >>> welcome to the "closing bell", everybody. i'm kelly evans here at the new york stock exchange. >> i'm mike santoli in for bill griffeth. president trump has a full schedule today wrapping up his first week in office. >> yeah, trump welcoming a foreign leader for the first time since taking office. theresa may, of course. the two just wrapped up a news

he's got gary cohen, a slate of cabinet coming into formation. but they are not there.all that he can do right now, executive orders and memorandums, reestablish what his intent is. and just like in the reagan years, if you remember, president reagan before your time, kelly, had james baker, ed meese. he had his cabinet in place when he was there and his transition was well advanced before he got there. so i think it is always difficult in implementing policy into these federal agencies. but once rex tillerson, general mattis, steve mnuchin all get in place, i think you will find efficacy. it is slower than people hoped. but this president has more energy and more intent than anyone in recent history. >> i'll ask but one specific area the market is so excited about and most nervous about. it is corporate tax reform. what are your expectations? be very realistic with everybody. how quickly is this thing going to move? and saying if it is not deficit neutral, if it can't blow off the deficit, then maybe it is a 25% tax rate, not 20, not 15. how should we expect this to pr

though i'm hoping we'll get gary cohen out to talk to us. >> they're all good.e's a great gas man, i used to run those commercials. >> the arby's commercials. >> used to run them where, on your house? >> i ran them when i had them on. they were killer. no one's replaced those ads. >> said competing with a billion dollar marketing budget at mcdonald's you've got to make them memorable. >> you've got to do. >> kind of like the cool hand luke when she's like clean iing the car. remember that? i'm shaking it, boss. >> still a lot of buzz this morning surrounding the president-elect's tweets about toyota from yesterday. as you know he tweeted toyota motors said we'll build a new plant in baja, mexico, to build corolla cars for the u.s., no way, build in u.s. or pay big border tax. japan today defending toyota. prime minister abe's chief cabinet secretary calling the company an important corporate citizen of the u.s. trump also making the front pages in japanese newspapers. this headline says trump tries to smash toyota. the finance minister says it's unclear whether

i think ultimately that will matter more what is gary cohen and steve mnuchin saying. >> i get they have to ask about rus russia, but the big stories are the tax stories. there's a single reason donald trump was elected, it has to do with the economy. the fact there were only one or two questions about the economy, donald trump needs to call in and talk to us about the economic plans. they'll wait for the con if i makes to get steve mnuchin in and wilbur ross, but a lot of questions to me -- i watch a lot of science documentaries, it's like early planetary development. things are spinning in weird orbits. who is on what side of what issue? we don't know that. business wants that certainty. >> can we introduce dan lipman here from politico. >> good morning. >> since we're off the script at this point. >> and joe's idol. >> we should do the whole thing. the thing i can't figure out. i would think the market and other politicians in washington want to hear united front. i don't get the idea that people have a hundred different opinions and that's okay. >> i think business leaders and people

administration, arguing he has the economic experience to grow the economy and would work with gary cohenolicies. the numbers in the senate are very tough for democrats to wity block any of trump's nominees. this is all about midterms, all about framing the political to date, and they are going to try to portray these picks, whether rex tillerson earlier this week or jeff sessions or attorney general, as people who are out of touch, and republicans have to defend. scarlet: kevin cirilli joining us from capitol hill, and oliver, manage and would have interest in 43 companies to avoid conflict -- steven mnuchin interest ino divest 43 companies to avoid conflict. ♪ oliver: i'm oliver renick. scarlet: i'm scarlet fu. welcome to "bloomberg markets." ♪ oliver: we are live from bloomberg world headquarters in new york for the next hour straight we will become a stories in san francisco, chicago, and london. just one hour of trading left for the week, and u.s. stocks are bouncing around, almost unchanged, may be positive. the s&p heading for its second straight weekly decline, if we continue at t

aboutoncerns do you have him leading the treasury department and gary cohen being involved in this andinisters in as well? he will be the chief financial officer for the united states of america. how do you approach profit? to buy a bank after the financial crisis, one that had a big portfolio of loans that a lot of people have been tricked on and she did on and then aggressively foreclose against those people. to build an entire business model out of squeezing these families and he did it successfully within his narrow confine. he was known as the foreclosure king. not the guy who was kind of average in doing this or a little behind the curve, but the guy who really led the charge. kevin: i'm hearing you making these cases, hearing these releases you are putting out. democrats in this congressional landscape face an uphill battle with blocking any of these appointees. so, what realistically can you get done at these confirmation hearings? at the warren: you look point of advice and consent -- power.olks have enormous they will touch the lives of every single american. many judgments t

i see gary cohen, former new york mayor rudy giuliani as well, an indication that we expect the president-electf these elevators. this is significant that his entire senior staff is here. remember, this is a tumultuous 18-month campaign that saw a lot of leadership changes at the highest levels. now just nine days, eight days out from the inauguration, the president has his top west wing team in place. they have all gathered here in the lobby. there's a blue curtain separating the members of the media from secret service and other personnel further back in the trump tower lobby, but riot now all of his advisers are standing, waiting to see what the president-elect will have to say. again, there have been stacks of manila folders, thick reams of paper that have been placed out on display at a table in front of the podium, so all indications are the president-elect should be coming down really any minute. we are told, of course, by sources that the top staff behind me here has been very involved, of course, in figuring out how the president-elect will separate himself from his business interests.

he wasn't gary cohen who was the ceo of goldman.e had been at goldman but he wasn't a big-name pick. people had to do research to understand who steve mnuchin was. what we are learn is is what a strong and insightful pick that was from donald trump. and very sort of off the beaten path. not the person you thought would have been chosen for treasury secretary. >> at this point chances of mnuchin being rejected look slim to non. >> he's giving answers longer than they would like which diminishes their ability for follow-up questions. he explains things so quell. he's acquitting himself so nicely that they haven't laid a glove on him. liz: senator pat robert set the tone when he joked with senator wyden. stuart: it was a moment of levity. it was humorous. >> i have got a valium pill here you have might want to take before the second round. just a suggestion. >> just another suggestion? we have a lot of colleagues waiting. if you can be brief it would be helpful. >> i'm going to be very brief. mr. mnuchin from the distinguished ranking

. >> gary cohen. >> he's a name you haven't heard a lot. he's going be the president's chair of the economic council. he has already seen -- he has really earned the trust, i'm told, of the incoming president in a way very quickly, a real member of that inner circle. you hear ban non, conway, kushner, you'll start hearing cohen. >> he was president of the goldman sachs, which is not exactly a club that you put together overnight. that was a big sophisticated international organization. they both are new yorkers. they both have kind of the same tough toout attitude about how you get things done. and i asked him about how he was doing and he said, well, i think i'm really making progress. i'm trying in some regards to get him not to tweet so much, but i'm not as successful as that. >> he's not an idealogical guy, either, just like donald trump. that's where you see a bonding there and the two of them think of themselves as doers. >> and that was a campaign promise. that was exactly the kind of person he promised to populate his government wit