it's part of goldman's push into consumer finance. joining us now is julie, who covers all things syntax. also is with us is mark gurman who covers all thing apple. julie, we have known for a year that this credit card was happening and this is a crowded space. how will this work and how is goldman and apple going to set it apart? julie: it sounds like that they are trying to leverage the brands coming together and there is probably a lot of customers for each side that i can expect a lot of people that are wealthy kleins of goldman that have iphones. both have a way to benefit from a transaction like this. i want to know more about what this credit card will offer, because like you said, this is a crowded space. is there going to be great cash back? will you get discount on apple products? probably not. one thing we found out today was --t, from acquiring startups a startup called clarity money, they will try to do more personal finance to go along with this. maybe you can say, hey siri, what do i own my credit card or something like

that's a big boost for goldman.elina: this is the first big new move for goldman sachs, and there are risk factors. do you think they risk alienating other banks? julie: i think that's part of the risk. since they never offered a credit card, it's hard to model what the loss is. when you have a low, people know -- a loan, people know how much they are using every month, how much they are paying back. with a credit card, it's a lot harder to point that out and decide what it's going to be. somebody might use $1000 one-month, $5,000, then stop using it for two months. a lot harder to model what that's going to be. that could be a risk moving forward. goldman has never had a credit card offering before. selina: julie page and mark durbin, thank you. the model three has lost a recommendation. the publication dropped the electric carmakers estimates in a closely watched annual ranking. tesla has complained about issues like exterior parts and effective glass. joining us is chester. what are some of other things customers

remember, goldman were the exclusive banker on this and goldman charged more than just about anybodye higher fees than anybody so they understood something about risk so now the question is, if you put all of that together, what could be the liability that goldman faces, a broad, civil suits, the bond holders are going to want their money back, these bonds are tainted and again, what senior executives inside goldman sachs are telling people there could be a years worth of earnings so now what does that mean? that's essentially the reason why you saw recently goldman make an announcement that it may clawback the bonuses of any senior official that was in line with, you know, that was there working on this deal and who does that encompass? david solomon, now doing a sort of a, you know, he's on the road trying to push goldman sachs as a different company, but david solemon's bonus could be clawed back. liz: even though he wasn't ceo when this deal was signed? charlie: he was number two and apparently had some line item, he was involved. the former ceo, he could have his bonus, that is

-- golden -- goldman's take was a fraction of that?em to pay the equivalent of the fees they collected? >> no, i leave it to the team to decide. what is important to realize is they were complicit to the crime. the effect being the whole image of the country, the confidence of investors, in the best and the -- and the state of the economy. they must bear responsibility. >> so you reject the argument that there is just a few bad apples in the firm? >> for such a figure, the highest commission that they brought, it is not feasible, attainable to assume that the entire firm was not aware. ♪ >> goldman sachs has since responded, writing, "the 1mdb bond offerings were designed to raise money to benefit malaysia, and 100% of the net proceeds from the transactions were deposited into 1mdb accounts. not a cent of those funds ever passed through any account controlled by goldman sachs, and a huge portion of those funds were stolen for the benefit of members of the malaysian government, and it is abundantly clear that members of that government

malaysia wants millions of dollars from goldman sachs to settle charges in the 1mdb scandal.ominent politician weighs in on the controversy. >> i support the position of the government, but now, we will not compromise. abigail: this is bloomberg. ♪ ♪ best." is "bloomberg the debate was fierce this week -- does the slowdown in global growth signal an oncoming recession? and how deep and how wide the downturn become? many guests wait in, starting with the nobel prize-winning economist paul krugman. he told yousef gamal el-din he's expecting a recession to hit u.s. economy. ♪ >> it seems pretty likely. there seems to be accumulation of smaller problems, and then the underlying backdrop is that we have no policy response. the fed can't cut rates very much. space, if vast fiscal we were prepared to use it, but it is hard to see that the current leadership will respond in any kind of nimble way. so yeah, i think we will have a recession. >> when you look back to the last crisis and compare it to the possibility of a crisis now, is the u.s. in the world in better shape? >> we starte

malaysia wants millions of dollars from goldman sachs to settle charges in the 1mdb scandal.ominent politician weighs in on the controversy. >> i support the position of the government, but now, we will not compromise. abigail: this is bloomberg. ♪ i'm all about my bed. this mattress is dangerously comfortable. i love my leesa. people everywhere love their leesa mattresses. and now, for an even more luxurious sleep experience, meet the sapira mattress by leesa. sapira is a hybrid mattress combining performance foam technology with individually wrapped pocket springs. enjoy extreme comfort, minimal motion transfer, and incredible edge support. sapira is the first true luxury hybrid mattress. made in america and shipped to your door in a box. read our reviews, then order online. when your new sapira mattress arrives, try it for 100 nights and love it or get a full refund. order your own sapira luxury hybrid mattress right now to get big savings. order now and get 15% off your mattress - and free shipping too. just go to buyleesa.com today. you need this bed. abigail: this is "b

thanks to goldman ceo david solomon. goldman up .6% financials having a pretty good week. >> for sure. poor last week, of course. >> higher yields helps the picture. >>> earning season may be winding down still big names set to report. cisco, aig, mgm and more after the bell today >>> outspoken t-mobile ceo testifying on capitol hill about his company's proposed merger with sprint. we'll bring you some of the highlights will it feel like the wheend of a journey?p working, or the beginning of something even better? when you prepare for retirement with pacific life, you can create a lifelong income... so you have the freedom to keep doing whatever is most meaningful to you. a reliable income that lets you retire, without retiring from life. that's the power of pacific. ask your financial professional about pacific life today. >>> julia joins us now with the highlights. >> t-mobile ceo defending the merger. >> the outcome will be a significant increase in supply in the form of eight times the capacity our network will make

malaysia's finance minister is seeking $7.5 billion from goldman to settle charges of misconduct.ling party sat down exclusively with bloomberg and told scarlet fu why he believes the bank should pay. ♪ >> it's important to know what excesses in crime they committed. to obtain $600 million commission, then to secure the bond, than $2.6 billion returned according to his own personal offenses, this is not something which is normal, it is contrary to all financial rules and regulation. whether we can achieve, finally, a settlement of $7.5 billion or not, i support the position of the government now -- we will not compromise. they have not only stolen the money through commissions, but they have tried to destroy the economy and the confidence in the system. >> you said $7.5 billion or not, is that number a justifiable penalty, given that the entire bond deal was for $6.5 billion, and goldman paid a fraction of that? would it make sense for them to pay the equivalent of the fees they collected? >> no, i leave it to the team to decide. what is important to realize is they committed a cr

goldman-sachs may claw back executive pay over the malaysian corruption scandal. the bank's board has approved a provision that could see former ceo lloyd and other senior executives lose out on mlions dollars in compensation depending on the outcome of the investigation. last year, the justice department launched a probe into the malaysian fund whereon $4.5 bil was allegedly diverted to the personal accounts of various govnment officials. that investigation is still ongoing and goldman-sachs arranged and underwrote bonds for that fund a the malaysian government has accused goldman of enriching itself at the ngpense of the malaysian public. >>> the ban industry is watching what's happening in washington, especially with the new make-upth o powerful house financial services committee. the panel is led byma congress maxine waters who is known for her fiery rhetoric towards wallt street. in a recent interview with john harwood, she took on a more moderate tone. >> reporter: at one point during the campaign, you said about bankers -- >> what i'm going to do to you is

leaders said goldman sachs was implicit in the 1mdb scandal.es that, saying it was lied to. our exclusive interview is coming up. tofirst, let's get straight the markets as japan and south korea come online. sophie kamaruddin has the latest. >> i want to kick off with a snapshot of currencies, kicking off with the yen. little change after the fourth quarter of gdp data. coming in at 0.3%. compared to the estimate for a 0.4% expansion. the kiwi dollar extends gains and sterling picking up a touch ahead of the parliamentary brexit vote. the south african rand is under pressure before its state-owned electricity company. let's get the open in tokyo and seoul. little changed for the nikkei 225 after a two-day advance. the kospi looking to snap a climb. there.sophie kamaruddin let's get first word news with selina wang. >> the u.s. budget deficit theooned to $319 billion in first three months of the fiscal year as spending rose by revenue was flat. the shortfall grew by 32% in december, compared to a year earlier, and is expected to keep growing. th

commitment when it was issues with the goldman sachs which i think will certainly bring back the funds but i think the process is quite in there but it in terms of the legal or procedural issues or whether we said this fight with amount given to us well let's talk about goldman sachs because they're accused of essentially criminal activity right that they were involved in issuing a foreign bond worth hundreds of millions of dollars or more than six hundred millions six hundred million dollars with regards to that case goldman sachs is a global banking giant. obviously these huge corporations they're not just massive in terms of business but also in political clout so how confident are you that you're going to be able to get that money from goldman sachs and if you're unable to what's. measures will you be taking to punish them for what is stealing malaysia six seven million is purely commission which is out to regis but. the entire process in dealing with the country. company the one m.d. be. using the expertise the so-called expertise of the national financial institutions is of cours

consider it solved. >>> apple and goldman are joining forces two are planning to issue a joint credit card. t"the wall street journal" said paired with new iphone features to help users manage their money. the users would earn 2% cash back on purchases and maybe more on apple products. apple moving away from hardware and deeper into services analyst with d.a. davidson, tom, welcome. >> thanks for having me on. >> how significant for apple is the kind of allure of being able to get cash back on purchases? i know that's only floated now but does this make sense to you, a good reason behind the partnership? >> yep, so i look at the deal of goldman sachs as potentially checking a couple of boxes for apple and for significance, i look at the recent announcement they're going to try to have consumers to return their iphones and upgrade them to the extent they're leveraging their balance sheet to do so the advantage for apple in this transaction is basically, it could be a means for the company to drive usage of apple pay and then it could also be a means for the company to drive just sales

she's naming names goldman sach's energy taeam make a bold prediction, buy it now. >> it is good to have you with us on this monday. some of you patriots fans may be just waking up i mean the ones on the east coast. good morning to krou amy, welcome >> thank you >> did everybody finish the game i did. my show starts at 5:00 a.m you guys will have to carry the show i hope your shoulders are strong let's talk about the market because the market has been carried for years torks a point. if they don't continue to lead us, who do you see as emerging as the market leader, if anybody? >> i think the growth stocks will come back and continue to lead >> why >> the cyclical rally is a rebound. we might be late cycle, which i think we are maybe we're still mid cycle with some others could argue. early cycle is where you want to own the deep value stocks. i don't see any scenario if macro economic factors pick up, they will be right back in the game i think we go into a slow growth economy and that's when growth stocks tend to work well premiums deeply negative inflation is reseeceding >> when growt

it's at or the malaysians want 6 billion from goldman that remains to be seen.out over long haul they are two well managed companies. i think he will do an kexcellen job. i'm not so sure i would be a buyer. given how rates continue to be low. it's such a high correlation to the financials i own bank of america. i'm not looking to buy anymore i'm not looking to sell it it's just there. >> i'm not a big believer in selling or shorting equity names. i believe morgan stanley traded 42 i'm not sure what i'm supposed to be doing with that. >> the price is 42, i need a $30 price target >> this is not going to be popular. i'll say it any way. you cannot take macro economic commentary about u.s. situations and extrapolate that into trades this guy albert edwards i'm convinced is more of a performance artist than a strategist who has literally been predicting the end of the world since my bar mitzvah it's on and on and on. maybe this will be the time and this clip will be infamous and they will play it to embarrass me in six months opinion maybe this will be the time that

commitment in there when it was issues with the goldman sachs which i think will certainly bring back the funds but i think the process is quite in there but it in terms of the legal or procedural issues or whether we said this fight with amount given to us well let's talk about goldman sachs because they're accused of essentially criminal activity right that they were involved in issuing a four different bond worth hundreds of millions of dollars or more than six hundred millions six hundred million dollars with regards to that case goldman sachs is a global banking giant. obviously these huge corporations they're not just massive in terms of business but also in political clout so how confident are you that you're going to be able to get that money from goldman sachs and if you're unable to what's. measures will you be taking true sentry punish them for what is stealing malaysia six seven million is purely commission which is outrageous but. the entire process in dealing with the country. company the one m. d. b. . using the expertise the so-called expertise of the national financia

that is the statement from goldman sachs this morning. matt.h from malaysia and 1mdb to commerzbank, just coming out with earnings this morning that were up almost 40%. result, the stock rose almost 6% at one point now we are seeing a number of headlines from the cfo about targets they will miss in 2020. they will not achieve a return on tangible equity target of 6%, as you see there. we also heard they will not achieve targets to cut headcount at 36,000. over 38,000.ll be and they are behind their target on the digital ratio, whatever that is. have,ting the issues they say they didn't expect more of a tailwind from the german economy. it is getting less than maybe a thought it would have, although they do expect a rising rate environment to help with net interest margin. i will talk to the cfo little bit later on and bring bringing the interview 11:30 a.m. london time. up next, some of the stock movers from the others, including nestle, the world's largest food company, is up, as the ceo announces it is putting its lunch meat business up for s

as you know, goldman is facing a first criminal trial.is going to happen next is a pretrial negotiation that would have to happen between the two sides and within 60 days, the judge will have to decide the starting date of that trial. a while yet because those pretrial negotiations have not happened. it is pretty interesting that anwar talked about when he will take over power. for the first time, he said that it will happen within two years. of course, his path to power has been pretty much marred by political infighting. a lot of discussions that it may not even happen. so, lots of questions when indeed he will take over power. there havehis party, been portions, pockets of people within the party who may have a different agenda and that is according to anwar, and he is aware of that, but today finally a confirmation that he thinks he will take over power within two years. rishaad: as you mentioned, his path has been marred in recent years, not least because he has been jailed for many of them. we are getting the indian open now. down 1

i told him that was impossible it's way too highly rated by goldman. said all right, let's let's take a trip to franklin mills, a giant outlet mall outside of philadelphia that my father used to go as he called on merchants to see if they needed any of his boxes and bags there was a gantos in one of the malls. my father said here is what we're going to do. we're going to sit on this bench in front of gantos on a busy saturday and make a judgment ourselves. we sat there for hours and hours talking and watching, and only about a dozen people entered the darn store i can't remember if we saw one woman coming out with a bag. i shorted the company that monday and stayed short pretty much until the whole thing went to zero and got liquidated another lesson learned wall street research can be very wrong. gantos made me skeptical i never forgot that exercise i'm offering a way that this show can bolster the process i infuse the show with all the lessons here try to match my mother being caller try to keep the skepticism of the gantos lesson my father presented

commitment in the when it was issues with the goldman sachs which i think will certainly bring back the funds but i think the process is quite in there but it in terms of the legal or procedural issues or whether we said this fight with amount given to us well let's talk about goldman sachs because they're accused of essentially criminal activity right that they were involved in issuing a foreign bond worth hundreds of millions of dollars or more than six hundred millions six hundred million dollars with regards to that case goldman sachs is a global banking giant. obviously these huge corporations they're not just massive in terms of business but also in political clout so how confident are you that you're going to be able to get that money from goldman sachs and if you're unable to what's. measures will you be taking true punish them for what is stealing malaysia as well six hundred million is purely commission which is outrageous but. the entire process in dealing with the country. company the one m. d. b. . using the expertise the so-called expertise of the national financial instit

it's good to hear what goldman has to say about things. always nice to know that as well broadly speak, i think it's a good working framework for making good -- for making investment decisions what you have to be conscious of is that last half of last year was a real slowdown. there was a holding off of making decisions in the latter part of last year. weather that's stain e sustainable or not is the other matter that's the issue >> you know, you look at germany. germany narrowly missing going into recession their economy continues to shrink at some point either the euro zone economy in germany goes into recession or things reco r recover. which way do you see it going? >> i think your point earlier was really important about it being a big collective economy, and also, added that is that it is essentially a trading group a lot of european gdp is related to external trade. it's a real barometer on global -- the health of the global economy to make it practical, it does worry me that the german economy is so heavily based on the car industr

goldman has to do something.olomon doesn't want to do a deal. >> goldman has to do something >> have you followed the goldman marcus situation they want to be the largest in retail they are offering unbelievable rates. >> they'll let you consolidate all of your credit card debt at a lower rate. >> that's a harbinger of something big happening. will the regulators allow citi to do something? >> no. they're not going to let them do something. >> why are you killing my narrative? >> they were below the 250 billion asset threshold. now they're obviously going to be well above it. >> do you think first horizon could do nothing, coamerica? these things are selling at like minus three times earnings >> you may very well be right. >> i am right. >> the reaction of the market this morning is very positive. when you talk about this deal, they've be talking to each other forever. i believe they got started thinking about this late summer, early fall it's been a while. when you look at bbt and suntrust -- >> that's why i'm s

goldman sachs must bear responsibility over the why am be disanto.nvestigating is potential crimes the bank may have committed. he's not sure malaysia can get back the $7.5 billion it is seeking from goldman of compensation. >> we were complicit to the crimes. being, the whole image of the country, the confidence of investors and the state of the economy, they must bear responsibility. debra: global news 24 hours a day, powered by more than 2700 morealists and analysts in than 120 companies -- countries. nejra: thank you so much. staying with that story, goldman sachs has since responded, writing the bond offerings were designed to raise money to benefit malaysia and 100% of the proceeds were deposited into an account. not a cent ever passed through any account controlled goldman sachs. --uge portion was stolen let's get to some breaking news from nestle. for your organic sales come in at 3%, bang in line with the estimate. the other red headline coming through is that next week -- nestle is exploring options for one of its brands including hot dogs.

you'll see a lot of $100 billion mergers from goldman sachs robert kraft is the owner that establishesvalues that sometimes invests money more than they actually have, knowing in the long-term, you build a champion >> jim, i like what tyler was saying about the timing of this is everything. >> congratulations, of course, to nick. i've got to tell you when i was listening to what you say about edelman and amd, the ceo, one of the people you can tell us what this means because you're from the nfl. she's about getting the assignment done and doing her job. and that is exactly what belichick is taught, right >> the other thing is for everybody listening, to me, to have the persistence and the endurance and the character to tick with it, to get it right, to have your standards and never compromise even though they were late on their cpu chips, microchips, they weren't ready a year ago, they were ready now and killing intel. so here's the big news in the next year, they're going to be taking more and more market share from the big giant intel. that's an achievement and it's only because lisa

goldman sachs saying you might see a little bit of a drawdown in the chinese market. if you see that you will get an opportunity to jump into these markets again. irish or, i bring your attention to that. goldman sachs say we are near the bottom and barclays say iron disasterlose its driven gains. we will debate that through the next hour. nejra: so we had a little bit of movement in the session yesterday. we heard from jerome powell pledging to stay patient with the fed policy. disruptedre a little earlier. if we look at how are trading now, pretty much debt flat. edging slightly into negative territory. i put oil in there because we have seen a jump today. wti futures were disrupted earlier. we drop in u.s. inventories and some pledges from russia, lifting the oil market today. we had a september high in yesterday's session and we are holding that high pretty much today. against the euro we saw the pound hit a two-year high in yesterday's session on the prospect of a delay to the march 29 deadline. are the gains in sterling cap? if we see that delay, it could be onl

goldman sachs today downgrading its growth outlook for europe. though, on a comeback in growth in the back half of this year a number of u.s. officials are in beijing talking about trade, but secretary of state mike pompeo is on an eastern european tour in an effort to increase u.s. engagement in the eastern european region, given the rising influence of russia and china. in hungary, pompeo warning of the dangers of allowing china to gain a bridge head in hungary. and in poland, he discouraged the use of huawei's 5g >>> back to earnings one specific stock in focus is heineken, up 6%. strong volume growth in its core products helped beat profit expectations it did see a pickup in non-alcoholic products, guys ubs put out an interesting note, saying that low to non-alcoholic beers are becoming increasingly popular among women and millennials across europe, making it a new prospect for some of the big bureaus. i, personally, don't understand why you would drink beer if it doesn't have alcohol in it, but in europe, it's taken off. >> i think they're g

long after i got a job at goldman sachs one got the machine with the recommendation, told me to call him as soon as possible i did and he asked me if i knew what suitability was i had no idea. suitability like how does my suit fit i didn't even have a suit. he introduce immediate to the concept and asked if i ever considered people who called moo he and got my answering machine might not be ready for the stock of the hottest semiconductor company and i was recommending it to them one-on-one without any sense of whether it was right for them i said that i always thought that stocks were pretty much a caveat emptor situation. you can't take stocks back they come with no guarantee so what's the dial? the executive explained before you recommended a stock on a one-on-one level at a registered brokerages house you had to know what that person wanted. what he wanted out of the stock. you wanted to know in the stock was right for them and their tolerance and risk he said, monolithic memories wasn't exactly the right fit for anyone other than bungee jumpers and k-2 climbers let's start there

goldman sachs says the global economy may have already bottomed out.tor slightly higher than numbers for december and january. the chief economist says growth remains soft but there were hutes of green c emerging. at j.p. morgan, less optimism. jp dimon is readying the bank for downturn risks. >> we are prepared for a recession. thing across the tape that jpmorgan was preparing for a recession, but we are not predicting a recession. we are pointing out we are conscious as the risk we bear as a company. >> there is record high interesting indonesia is sovereign bonds. to $6.7st option jumped billion. the bonds were back in favor with high-yield foreign investors after bank in danger used in aggressive tightening cycle to stabilize the rupiah, which has rebounded almost 3% this year. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. sue, thank you for that. jay powell delivered a relatively upbeat view on the over andhile repeating over that the fed it can be patient when it come

goldman with the license and doing this slowly but surely opposed to jumping ahead and for goldman sachs they're -- sorry. wall street. not main street. this is a partnership of a brand that's very well-known for the consumer and a premium level and what goldman sachs wants to maintain. >> a lot of access to users through iphones. >> a final point rolling it out with employees which is a source confirmed because they haven't done this before and still a lot of areas to feel out as to exactly where it falls. >>> i'm watching this story, speaking of reaching a younger consumer demographic more college students might be able to do a load of laundry pressing a button on the phones. tide brand hoping to expand the cleaning stores for more than 2,000 locations by the end of the 2020 according to the company, tide already has several hundred stores, mostly aimed at college campuses with 24-hour laundry dropoff and pick up through the tide phone app i think it's brilliant because first of all it brings a whole younger group of consumers to a brand like tide and we know that they have different r

the malaysian government has now filed criminal charges against goldman sachs and it is notjust malaysiaes around the world, including the us, singapore and switzerland, but are looking into this sovereign wealth fund, that was set up in 2009. the originalaim fund, that was set up in 2009. the original aim was to turn it into a commonwealth sovereign fund, but as we have been reporting, the money might have been stolen. a lot is at sta ke, might have been stolen. a lot is at stake, but the former prime minister of malaysia despite this high profile cases not keeping a low profile. no, if he denies all the charges, 42 charges to be exact. everything for money laundering, corruption and breach of trust. he says that he is innocent and that this is a political vendetta against him. he has been on somewhat of a charm offensive on social media, criticising the government but also going around the country, where a p pa re ntly going around the country, where apparently some of his supporters are still there to take selfie ‘s and so on, trying to portray himself as everyday malaysia and, at tha

goldman continues to be a jargon not.ence the potential deal. -- continues to be a juggernaut. boutiques, you think the world.mullis' of they really gotten market share over the last few years. you do wonder if these all come said we again -- dave are not doing anything right away. yet, this is the david solomon goldman. he is taking a fresh look at the whole thing. >> absolutely. there could be something to buy, someone moving toward retirement, a nice little exit for themselves. david: unfortunate story with our friend, tom barrack. he decided to speak out about the murder of jamal khashoggi. he said we've done worse things here in the united states. uproar.s an tom barrack apologized, saying khashoggi's murder was atrocious. i consider the killing reprehensible. tom barrack has had a fair number of financial dealings over in that part of the world. >> for decades, as you know. many people in the saudi government going back into the 1970's, where he cut his teeth as a dealmaker. he ran president trump's inaugural commit

it is clear that members of the government light to goldman about the proceeds of these transactions.g, china's highest grade movie star disappeared in a july. when she reappeared in october, she agreed to pay back taxes, but the incident is still wreaking havoc on of the chinese movie industry. bloomberg shery ahn here with more. the view of the government is that the chinese film industry is riven with tax fraud. shery: yes, we have seen her with the dual sham contract, so they are thinking that this could be very prevalent. we have industry tycoons having to cough up more than $1 billion in back taxes, a lot of money going to the chinese policymakers right now and this is basically shutting down film. this happening in july, the actress left, and no history >>kdrop in films released? that is because people are afraid to get involved in the industry. even actors are reluctant to go about and start making all these films. joe: how much of this is from the government's perspective skepticism, versus towards anyone with a gigantic following, gigantic social media or clout? littlei thin

goldman sachs came out with a bearish note.n the january rally, you may have missed your opportunities for the year. i found that very surprising and pretty negative from a bank that gets a lot of their revenue from investment banking and from people buying and trading stocks. what did you make of the goldman statement? we ask show it to the viewers if you want. >> there is historical precedent to that. the market has come up almost 16% in just six weeks. that's an entire year's worth of gains and historically during bear markets when wee see these kind of bounces, four out of five times they've been what they call dead cat bounces, that is to say the market continues lower. doesn't mean it happens this time but it's been a tremendous five weeks and a lot of people say the best month is already over for the year, only the tape will tell. cheryl: speaking of the month, jonathan, february 15th is the deadline for them to come to an agreement on funding for the government. if they don't, potentially another shutdown, potentially -

telecom s chosen goldman sachs. learned the offering could value the telecom at $8 billion. the company sells exercise bikes and treadmills with tablets attached. and that is your latest bloomberg business flash. guy: a quick look at the markets. the s&p is trading off session highs. gold is trading lower. this is bloomberg. ♪ want more from your entertainment experience? just say teach me more. into your xfinity voice remote to discover all sorts of tips and tricks in x1. can i find my wifi password? just ask. [ ding ] show me my wifi password. hey now! [ ding ] you can even troubleshoot, learn new voice commands and much more. clean my daughter's room. [ ding ] oh, it won't do that. welp, someone should. just say "teach me more" into your voice remote and see how you can have an even better x1 experience. simple. easy. awesome. guy: 30 minutes left in the european trading day. from london, i am guy johnson. vonnie: from new york, i am 500 this is the european close on "bloomberg markets." guy: generally reasonably

it's relatively limited. >> peter, goldman sachs. great insight globally especially for worldwide exchange really appreciate your insight peter, thank you have a great weekend >> all right up next, barbie is back and hot wheels are hot again the one stock to watch as part of that toy turnaround, and we are counting you down. all hour long to the world's hottest cities for technology. boston came in at number five. coming in, according to the u. kfrmt, is number four, amsterdam. that's right on a variety of factors. amsterdam, the fourth hottest city in the world for tech we have three more to go number one might surprise you. worldwide exchange is back right after this we're drowning in information. where in all of this is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this? you partner with a firm that combines trusted, personal advice with the cutting edge tools and insights to help you not only see your potential, but live it too. morgan stanley. my mom washes the dishes... ...before s

the former chairman and ceo of goldman sachs disagrees.twitter saying a company used to be encouraged to return money to shareholders when it could not reinvested. the money doesn't vanish. it gets reinvented in businesses that boost the economy and jobs. let's get some perspective. our guest joined us over the phone. in theory, if you limited buybacks that would leave more money for the corporation to spend on wages and research and development and things that people claim to want. what would happen in practice if legislatively buybacks were restricted? >> thank you for having me. this should generate a ton of hate mail so i appreciate that. [laughter] i think that people oversimplify this. if firms were basically barred from buying back shares, they would just retain more of their profits. they would just sit on the money. that is the root of what people are trying to criticize. they are saying corporations are making too much profit. distributed into the economy. criticizing buybacks or dividends is an inefficient way of critiquing what

>> goldman sachs and apple are teaming up at a time when iphone sales are growing and goldman is lookingice business. the two of these see a perfect opportunity to help each other out. >> coming up, everybody, axios's mike allen has a look at this morning's "1 big thing." and coming up on "morning joe", bracing for the russia report. >> and recent dealings with robert mueller and his team and what it may say about the conclusion of the investigation. "morning joe" just moments away. oh! oh! ♪ ozempic®! ♪ (announcer) people with type 2 diabetes are excited about the potential of once-weekly ozempic®. in a study with ozempic®, a majority of adults lowered their blood sugar and reached an a1c of less than seven and maintained it. oh! under seven? and you may lose weight. in the same one-year study, adults lost on average up to 12 pounds. oh! up to 12 pounds? a two-year study showed that ozempic® does not increase the risk of major cardiovascular events like heart attack, stroke, or death. oh! no increased risk? ♪ oh, oh, oh, ozempic®! ♪ ozempic® should not be the first medicine for treating

. >>> southwest airlines grounded at goldman sachs the one airline they say to buy instead. the halftime report starts right now. good to have everybody here today. the rally has taken the s&p to its highest level since the beginning of december. nasdaq rallying for seven straight days. going for eight now. you're as active in this market as i can remember. >> i've completely flipped around where i was what i meep an by that is we ta about the short term options while it was volatile, the options weren't what i wanted to buy. i wanted to buy stocks that i thought had been depressed of the downside i was always way down to 7 option positions now i'm back up to 17 of those i've cut my stock positions in half i'm been very, very active i'm trying to use this volatility in the market i'm trying to use the opportunity to job on the best return in the shortest amount of time i think the calls is the best way to do it >> where sort of do you see things where we are right now? as i said in the teaser, you have a number of strategists out today with varying calls on the market you ha

and goldman sachs sanctioned him to do that.part of this we have been tracking across financial media in the last six or eight months, which shows how lucrative -- their clients. vonnie: those stories are well worth reading. you can find them both on the bloomberg. guy: bp is joining its big oil peers by giving investors a positive surprise. it posted better-than-expected earnings today. ceo about the big performance. >> they have announced reductions in production. and of course the oil price fell, windows iranian -- when those iranian reductions were made. when you look at the discipline opec has and has the mr. do for quite a while, and you look at factors like venezuela, a human tragedy, there are things that could from the oil price. and later in the year, the permian will come, so there are factors up and down. but it feels tight. anna: how is venezuela impacting your business? the gulf of mexico has turned into a parking lot for a venezuelan crude. >> it is not really affect our business, we do not do business in venezuel

goldman sachs did not like obama. gary cohn, supported, led the charge on wall street to support him in the first term. the second term after dodd-frank, gary cohn did a 180. goldman didn't support obama against romney. but they look at these, the people, the crew that is now running the democratic party, and bringing schumer into its fold per that article, obama on steroids. this is not just semiprogressive politics. neil: sounds like behind the scenes they're kind of pushing him on, right? >> they're pushing on lloyd to go after -- neil: they can't publicly challenge. >> they're scared to death going after these guys, getting a big target on their back, hauled in front of hearings before maxine waters. you know the whole drill. are you happy? market only down 314. you look more dour now. neil: incredible. charlie gasparino, thank you very much. i want to clarify something i said a little earlier about the gaggle involving larry kudlow who had told our stuart varney not even more than a half an hour ago, that the two

we've been told a wider public rollout of an apple-goldman sachs card could be later this year.tate of michael jackson is suing for posthumous character assassination in the "leaving .everland" documentary the documentary details claims by two men who say they were sexually abused by jackson when they were children. global news 24 hours a day on air and at tictoc on twitter, powered by more than 2700 journalists, analysts, and more than 120 countries. >> thank you. let's look at australian markets this selection. >> the aussie dollar is gaining ground. the central bank is not on a predetermined course when it comes to interest rates. let's check in on some coal stocks in sydney. we are seeing some reaction when it comes to analysts. let's check in on some other movers. we are keeping an eye on automotive holdings. web jet building on yesterday's 30%-plus jump on strong results and info care gaining ground, despite raising its target, as 2018 operating eps fell nearly 22% and it did cut its dividend, but the company remains confident it can deliver eps growth over the medium to l

investing giant david temper an aggressive call from goldman sach's on a big name tech company. >>> welcome. good to have you with us great to see you again welcome back we begin with the markets. stocks continue their rally back from the december lows real question. what now and the question is have we gone far too fast. s&p is up 9% this year 16.5% from the december lows >> i've been saying it's important to be open minded because things change. i think the staff that we're talking about right now is the fact that you now have 87% of the s&p 500 constituents above their 50-day moving average which is remarkable. some are saying it's over bought the bulls have taken back control of this tape >> on the over bought. the percentage of over bought s&p stocks is above 50% from th last time. >> not to get like really technical, term over bought is usesd by people who missed out it has an actual meaning something can be over bought and say that way it can remain over bought for weeks at a time. short term, could we be over bought yes. what happened after july 2016. you had a remarkable run i want

i think it's a much more interesting story on the goldman side. >> goldman sachs is moving into creditards so what does this tell you >> both giants are struggling for new ways to get revenues that's what it tells you in two different fields, both giants are struggling for new revenues even the people at the top are getting squeezed a little bit. they need revenue growth and they're smart. partner with two of the best people out there together. that makes a lot of sense to me. >> it's unclear if it will alienate some of the people that use apple and the credit card companies partnered with it on t the apple wallet >> i did not buy an apple watch, though the health care aspects of the apple watch are very interesting. >> when we come back the ipo narcotic regulation. we're going to talk about both with richard breeden ♪ just hold on, i'm comin' ♪ hold on, i'm comin' ♪ hold on ♪ don't you worry, i'm comin' ♪ here i come we segetting to patientscines in record time. at emerson, when issues become inspiration, creating a better world isn't just a result, it's a responsibility. emerson. con

see you later. >>> when we come back, goldman sachs on the impact of u.s.ruly high end retail barneys jumping on the cannabis bandwagon. the dow is up. when you look at the critical issues facing our world, what do you see? we see a billion more people breathing free. we see access to fresh food being the global norm, not the exception. we see homes staying cooler, without the planet getting warmer. at emerson, when issues become inspiration, focusing core strengths to create a better world isn't just a result, it's a responsibility. emerson. consider it solved. >>> welcome back to "squawk on the street." i'm sara eisen with carl quintanilla and david faber live from post 9 at the new york stock exchange one hour into the trading session. let's get a check on where the major averages stand pretty much higher across the board. in celebration of potential shutdown aversion deal and some optimism around china trade talks going on in beijing. financials, energy, communications services, consumer discretionary, all groups within the s&p rallying more than 1% the

goldman and morgan stanley are making 52-week lows in their sector and that's the leading edge in manyays. yes, rates, we know that's the story, but the whole thing is heavy. it doesn't act well. >> i want to make one really clear point. i'm not saying we're on the cusp of the 2008 bank thing if you look at their valuations and their exposure to risky assets, it just doesn't exist. it doesn't exist the way it did in 2008. that's not my point. if you're looking at citigroup, it sold off to $50 last month for a whole host of reasons that we've been talking about for months there's a good chance it could happen again if some of those reasons come to pass my point about mentioning that regional bank is that, okay, these guys have the foresight they're going to make this really killer, the sixth largest bank maybe they do, maybe they don't. who knows what is going happen when we have forced bank mergers in europe. citibank will be back in 2019 if a lot of bad stuff comes to pass. >> you have three months until this expires less than two months ago the stock was sub-50 you're risking a small

i think this is goldman's stretch deeper into consumer banking. far into that, but this probably aligns with its market brand. it's probably trying this out along with that brand. >> so true. good observation. diane king hall at the new york stock exchange. thanks, diane. >> all right. thank you. >>> still ahead, street style may be headed to the olympics. why breakdancing might soon be collecting gold medals. ng gold medals. okay, paint a picture for me. uh, well, this will be the kitchen. and we'd like to put a fire pit out there, and a dock with a boat, maybe. why haven't you started building? well, tylem'ing ol anenale would like to re. well, tyleye, it's a lot rr anenale would lgreat. re. can you help us pour the foundation too? i think you want a house near the lake, not in it. come with a goal. leave with a plan. td ameritrade. ♪ (vo) imagine a visibly healthin 28 days. purina one. natural ingredients, plus vitamins and minerals in powerful combinations. for radiant coats, sparkling eyes, and vibrant energy. purina one. 28 days. one visibly

currie, global head commodities, research partner, goldman sachs & co.to him about emerging commodities. this is bloomberg. ♪ >> this is "bloomberg surveillance." , valued atne hostile 70.8 billion could trigger a three-way fight among the biggest gold miners. planseviously announced to take over offers better benefits. barrick's ceo disagrees. process, we careful have been working on it for a long time. , and notd before hand just one meeting. you have to convince the shareholders this deal is better than proposed. the man proposing to buy them, is the same blamed for the deal falling apart five years ago. was firmlye finger pointed -- that is the bloomberg business flash. you so much.nk for more on commodities and m&a, let's start with oil, we are joined by jeffrey r. currie, global head commodities, research partner, goldman sachs & co. this is one of the most famous get-togethers in the oil sector. let me go to the president's tweet a couple days ago that moved the market a little bit. oil is stumbling after the third rally since christmas eve. marke

goldman sachs fell mor than 1% to $196.36 too. >>> zillow'sco-founder is out as the company ceo and is being replaced by another co-founder and former ceo, rich barton. raskoff has been ceo of the online real estate company for nearly a decade and will remain on the board. the company also beat on revenue estimates after the bell. zillow sres are down more than 25% in just the past year, and they were vatile following the news, but closed the regular session up a fraction to $35.04. >>> also after the bell tonights kraft heinzd earnings and revenue estimates. the company said that cost inflation was lower and savings hurt profits. the company also got a subpoena from the s.e.c. over accounting polici procedures. the company also slashed its dividend. shares initially fell more t 10% following that news after falling a fraction during the regular sessiono $48.18. >>> and coca-cola has raised its quarterly dividend for t 57th consecutive year, hiking it a ts penny to 40 cer share. the dividend is payable on april 1st to those who own t shares on march 15th. coke also is planning to buy b