fxis the head of research in singapore. great to have you. this trajectory we see playing out when it comes to the pound, is it as good as it gets? we are looking at two years of extreme uncertainty and unknowns. >> i think in the short-term there could be a bit of pressure on sterling come but argue is that of the next 2-3 years, there could be potential upside risks on sterling. there are still a lot of questions going forward them a potential delays in investment. you might see issues about wage growth. , onethe next 2-3 years might need to look at how the fundamentals are doing. , pressure on the sterling will still be there. haidi: your notes say over the next 1-2 years, the outlook when it comes to cable is a buy because fundamentals suggested is overvalued. to saying sterling could go 1.36 if the talks go well. that is a pretty big if, no? >> indeed. commencement, they are still committed to a free trade agreement in the eurozone. there are still questions, risks of a scottish referendum as well , so the uncertainty and the potential fo

i want to bring in our guest host for today, she is the head of research for emaar's m -- nbd.e talking turkey here and we seem to have twin trends at the moment. one is political trauma unfolding with the european union, the other is economic , and particularly sort of interesting way of tightening monetary policy that turkey has embarked on. interesting in the british sense. how do you see those twin developments unfolding? are'm not sure they unrelated. if we look back at turkey's development's over the last decade, up until a couple of -- the ideat was that the turkish economy is moving towards membership, that was a big driver of business and growth and stabilization of economic policy. is one wonders what the eu would want to see. this move spec with the -- back with the netherlands. the relationship is moving further apart. that begs the question of whether or not you can -- whether that is relevant. what will anchor turkey's economic policy going forward, are we going to see the same masked friendly reforms? what direction is turkey's economic policy going to take? that

joining us is richard hunter, head of research, wilson king investment management. me welcome you as the first male on business live. that's not by design. that's how it is on this programme on a daily basis. richard, talking markets, of course, it is budget day in the uk. are you going to be hanging on hammond's every word or is it not that big a deal today? i think generally speaking what happens with the budget, it has implication for specific sectors usually for example, alcohol companies, tobacco companies, house builders. the usual reaction? usual reaction. in terms of the macrostuff, the wider picture, it tends to be more of a currency story than moving equity markets apart from those specific sectors. i think it will be one that is going to be closely followed because at the moment the market is scrambling for any clues as to what brexit might actually mean. the pound being at seven week lows. what kind of currency movements might you expect? currency market apart from being the biggest in the world is something of a zero sum game. as the dollar strengthens

she is head of research for irites.s -- em we're talking turkey. ave political trauma with the european union. the other, economic drama. the interesting way of tightening monetary policy turkey has embarked upon. how do you see those twin developments unfolding? >> i am not sure they are entirely unrelated. if we look back at turkey's byelopment, it was driven the eu convergence story. the idea the turkish economy would move toward eventual eu membership that was a driver of investment and growth. stabilization of economic policy. more in line with what the eu would want to see. this that with the netherlands the signs the political relationship between turkey and the european union is kind of moving further apart, disintegrating, i think begs the question whether the story is still relevant. if not, what is going to anchor turkey's economic policy? are we going to see the sort of reforms, what direction is turkey's economic policy going to take? that is a source of uncertainty. we are not talking about portfolio flows. we are talking about real in

atry: the head of research our eyes capital. kyo next, this is bloomberg. ♪ ♪ you are watching bloomberg, i am tracy alloway in dubai. in hong am shery ahn kong. the bank of japan kept its monetary evening plan unchanged after the fed raised its interest rates. a reaction from the chief japan economist, and a former boj official. you for joining us. let's discuss this decision. expected, but at the same time many people are expecting the bank of japan to eventually move its targets on the 10 year yield. is that your expectation, the long will that take? of all, we expect the bank of japan raised the target 40 basis points over the year. i think the timing should be delayed into autumn because of the remaining slight and inflation rates. it is not necessarily happening in the possible or near future. shery: sluggish inflation, not surprising that the wage growth has been so bad in japan. our bloomberg can look at my bloomberg and see the wage growth after the shinto labor negotiations in spring took place. that seems pretty bad. h

later on, jeff currie, goldman sachs mobile head of commodity research -- global head of commodity research tv and radio by bill gross on friday. , wer a fourth week of gains open monday with and move to the downside. futures a little bit weaker as well at about 2.1% on the s&p and dow. treasuries, the auction cycle ticking off today with $24 billion on three-year notes. the euro still a little bit weaker and south of the dollar. down by 0.1%. on aund treasury spread two-year basis, we have blown of 200a euro area wide basis points. from new york and washington dc, you are watching bloomberg. ♪ jonathan: repeal and replace. as theinsurers brace republican party reveals its long-awaited answer to obamacare. a seven-week low of fed -- ahead of the brexit debate. the central bank increases its purchases of some deposit rate yielding german bonds. that's one of the stories in the bond market. from new york, i'm jonathan ferro alongside david westin in d.c. finally a little bit of substance on health care. david: we are starting to get some details from present trump and -- president trump and w

bilal hafeez, head of fixed income research at nomura. your take on everything we've been discussing. oil is one of those big things. guy: absolutely. we're going to talk about oil. the story coming out friday. what next? this battle between what is happening with shale and what is going on next in terms of the opec story is something we need to be talking about. the supply glut is something maybe people are beginning to get their hands around. that is next. this is bloomberg. ♪ guy: welcome back. let's talk about the crude complex. wti trading losses. my screen telling me 48.44. that is after u.s. drillers boosted their rig counts to the highest level since 2015. will kennedy, managing editor for energy and commodities, joins us now. this reality is becoming clear that opec is trying something, but the shale guys are responding really fast. back muche is coming faster than opec would have wanted or predicted. the real issue for opec right now is stockpile. the thing that really unnerved the market was this 8 million barrel gain in u.s. s

ramy: and we look at the market open, securities, head of research eric lu joining us.the contrary in view with them asian market. that is coming up shortly. ♪ >> trade tops the agenda as finance ministers meat. et. u.s. look ahead to talks amid rising tensions over protectionism and korea. >> deutsche bank plans to raise $8 billion to boost growth. >> a rare reunion for the korean lotte family. >>

. >> but ken jacobs head of research for education say repeal of the affordable health care will likely make a loft health insurance unaffordable. the replacement bill phases out medicaid expansion in 2020 costing california $9 billion in lost federal funds. >> average held costs are expected to go up by $2500 a year. >> for those who 55 to 64 average costless go up seven dollars a year and for low to moderate income families, $4000 a year. >> jacob says many people will drop insurance or buy it even with a 30% penalty only when they are sick enough to really need it. health economics professor wil dowel says most of the 20 million new obama care patients would quickly dry up. >> would likely reduce the number of insured by 10 to 15 million. >> as to arguments that the new bill will give doctors and patients more choice ... >> it will be fewer choices as the insurance market disappears. >> with fewer folks in premiums will go up so for those to buy coverage will choose higher deductibles lower their premiums. >> what that means is healthier people are going to be less likely to buy cove

let's bring in our political panel, head of research and actually republican strategist at goldman stateltant. good sunday to you. as the media outrage over this a little rich to dissent that there wasn't a lot of outraged bitter cold or asked for the resignation of bush appointees back in 2009? >> it's a no-brainer. political appointees, no different than a ceo commented that one of different answer to you. i think it's getting blown out of proportion. >> i would assume you agree president trump believes has the right to ask for the resignation of these folks. >> absolutely. the way he went about it is a bit odd. i don't think for presidents that were the u.s. attorney to stay on and then sat actually you should be out in five minutes with basically no warning. took a pretty fired tweedy he refused to resign and had to be fired. it is standard practice in this way. preet bharara had a strong reputation with republicans and democrats as an independent prosecutor. the reporter had read before this. this is where it made sense he would get to stay on this was that the president's right to

we also heard from the head of research at the state council effectively the cap been in china.ically zero big risks to the downside for china's economy, so striking a very up the tone. just talkingre about that over the last hour, about how this is a more upbeat tone than the one adopted at the inpc. what has challenged in the last week to see this change in language? tom: probably not a great deal. premier li hedging his bets and talking about areas and challenges that policy have articulated for some time. we heard from the finance minister as well about the challenges around that, restructuring, supply-side painful, but promising. that is on the domestic front. externally of course, there is growing protectionist sentiment, anti-globalization sentiment that could have an outsized impact on china's economy, but there are other data points that point to a positivity for china's economy that were pointed out by the head of the national bureau of statistics and including industrial activity, electricity generation, power consumption, railroad volumes. those have all picked up as

lets get detailed analysis of those stories from richard hunter, head of research, wilson king investmentit", and we do not know what the status of these workers are. —— have to. not know what the status of these workers are. -- have to. you are absolutely right, of course, and we have to have a conversation in both directions as part of the "brexit" negotiations. quite apart from the working sides, the residency side, there is a number of experts from there is a number of experts from the uk, within the eu, and a number of eu people have chosen for whatever reason to be based in the uk and that is quite high on the agenda when negotiations begin properly. over the next few weeks and months. presumably there will not be the only sector saying that they are reliant on these workers coming over to fill the skills gap. absolutely not, apart from hospitality, you have the wider entertainment sector, you also have manufacturing, and you have the financial sector. the free movement of labour has permeated most, if not all of the sectors in the uk, which obviously will be something of a bargaini

head of research. a roundup of stories to get your day going in today's edition of daybreak.rg subscribers check out on your terminal and phone. you can customize all the settings you want, get news that you care about. ♪ ♪ we are counting down to asia's first market open this morning. japan futures, at first check it is slow going at the open. the caveat is that the dollar-yen, we did the resurgence in the dollar overnight. they are holding those losses at 111 in response to euro futures up this morning. this is daybreak asia, i am yvonne man in hong kong. betty: and i am betty liu in new york. the world largest asset manager said to be taking up its -- shaking up its struggling unit. blackrock is lowering fund that its active equity unit. blackrock and its rivals say mounting pressure from investors over fees, clans are moving to hurt itsystems that active managers. yvonne: hsbc may raise cash for a private credit fund. they are seeking as much as $1 billion as they look to benefit from other banks pulling back from corporate lending. that would move to an asset manage

halpenny, head of global market research is still with us. ed because i am assuming that if you look yields, of european they trade on the back of the fed does. derek: we are looking at at least three hikes to be delivered this year. firstight be the fair -- year in which the fed delivers on the forecast of interest rate hikes it has been projecting for the first time in a number of years so we shared that opinion of the fed in the forecast. it is conditional on a steady progression of economic growth and less mishaps on the policy front in the u.s. or internationally. there is a bit of uncertainty around that, but the central baseline is three hikes this year. francine: i don't know whether the place of future tightening will depend on how the economy reacts to the last hike in march and whether they look at inflation all a little bit more aan in the -- inflational little bit more than in the past or not of animal spirits. >> you are seeing the comments and i think the fed in comparison to the ecb, it takes infliction objective -- inflation o

joining us now, barclays head of research and managing director and bank of america head of economic lcome to you both. what could really rattle the markets today, ethan? >> i think what will rattle them is the so-called dots move a lot. right now, the fed is forecasting only three hikes this year and next. people will be watching to see whether that median dot moves up to four. i think we'll be watching very closely what yellen says in the press conference. everyone agrees that the economy is looking better. the question is, does she try to dampen that optimism in the press conference? that's where the action will be, not on whether they hike or not, which is virtually certain. >> so it's the actual projections that the members of the fed make when it comes to how many interest rate hikes they think they will do this year, et thhan. do you expect that to change at all in today's announcement? >> everyone focuses on the median dot, the middle of the committee. the median dot is three for this year. it's very hard for it to move up to four. four members have to become more hawkish in o

thank you for bringing up the latest on the energy market and take you to the head of the research fors for being such a wonderful cohost. thank you. c help to deliver strong results on the back of maternity and fertility demand. wheels big with their new ceo. this is bloomberg. ♪ watchingou're "bloomberg markets: middle east" live from dubai. let's give you one more breaking story. is filing for u.s. bankruptcy protection in the court in new york. that is an interesting one for the energy market in new york. let's turn here to the uae because nmc health is the first uae health care company to list on the london stock exchange. it has been boosted by the turned fertility divisions and rising demand or long-term care. have will abu dhabi's new insurance rules impact the performance. let's discuss that with the new confirmed ceo. thank you for joining us today. >> let's start with overall demand. tracey: we have had some interesting changes happening including the co-pay rule saying immoralities's have to pay more for their health care. meritatis have to pay more for their health care. >

. >> for more let's bring in kim wallace, head of washington policy research. renaissance macro research. kim, good to see you. >> hi. >> what's your take on what's going on so far today? >> there's a lot going on. i think going forward we have to focus on the substance and the politics of legislation. it's easy to say you move to tax reform and pass it by june. what's difficult is identifying what the ideas are, put them on paper. get support for it in committee and then pass it to the floor. the focus on the house thus far has been on border adjustment taxation. that's not had life in the senate for the past three months. if you're going to get to tax reform in a hurry, you're going to have to pay for the from what's been the focus of the house, come up with another plan and then bring people in to support it. they're not close to that yet. >> you think basically if tax reform is going to have a shot, border adjustment has to go away? >> that's not what i think, that's what 17 republican senators have said. >> okay. >> you can only lose two of them. by their

it's a conversation between a credit product specialist, and their global head of financial research, about the outlook globally with a specific on europe. they say relating to europe, the storm passed. they get to the u.s., and read it again, we sold out of the bank equity positions, a bank rally, 20% in u.s., we have to wait to see what happens on the policy front, and more importantly, it's good dispin taking profits given multiples for u.s. bank, price to earnings or tangible book value are the highest we've seen since the financial crisis. >> it makes since. hey, they take profit. fantastic. i think there's plenty of upside, especially looking at the names that trail. they are underneath the tangible book. that's getting very slim right now. you can look at bank of america, just a little bit above, but some of the names are well over the numbers, but i think a goldman sachs, for instance, that new model, they could be a $300 stock. >> judge, the idea here it that tough things to do are a repealing and replacing obamacare and taxes. as far as rolling back some of the regulations,

of ai is there are so many valuable verticals. it often takes skilled ai people's together with skilled domain expertise and those teams come together and work together. caroline: he headed one of four researchabs. at aeparture comes critical point for the company which has been using ai to revive its key business unit. heading thehe man security charge for google's android. and the measures he is taking. that is next. episodes of bloomberg technology are livestreaming on twitter. weekdays at 5 p.m. in new york and 2 p.m. in san francisco. this is bloomberg. ♪ caroline: the world's biggest operating system has announced the next generation of its mobile software, known for now as android oh. it is currently unfinished and only available as a development preview. it aims to give developers a leg up before it is officially released later this year. it will help conserve battery life and customization of the lock screen to allow quick access to features. google is out with its annual android security year in review. the report looks back at 2016 and steps the company has taken to keep android users and their data safe. among the highlights, updates were delivered to 735 million devices. adrian

was merrill lynch, head of global commodities research, francisco blanche earlier today. the bloomberg business flash, look at the visit -- biggest business stories. the securities and exchange commitment -- committee has rejected a bid by the wink of us twins to watch a bitcoin etf. the decision today cap's four-year quest by the brothers to lift the bitcoin product back in 2013. bitcoin prices hit a record high earlier today in anticipation of a green light from the fcc that would have offered investors easier access to that unregulated currency. caterpillar strongly denies breaking any federal tax laws -- facilities its were raided by federal agencies. the reasons behind the rain -- rate were unclear, but caterpillar informed the fcc it was notified by the irs that it oh $2 billion in additional taxes, linked to profits from the smith unit. no charges have been filed. caterpillar says it is cooperating with investigators. haser's con skull island, racked up close to $250 million in production costs and marketing expenses. based on estimates for similar movies, the monst

we also know the global head of commodity research is going to .e in new york that is the bank of montrÉalphon serving boss. that is just after midnight in hong kong. that is what we have through the day. next, economic expansion last year and how they are coping. this is bloomberg. inthis is bloomberg markets asia. i am in hong kong and we are look in at the business last headlines with disappointments increasege talks and wage -- the base wage rising. inflation, boost to something they were desperate for. clashes, a showdown set for wednesday on who will get to run the company. powers bystripped of the chairman. it has been at least three takeover proposals in the past three months. >> saudi arabia may be overvaluing talks. value is at $1.5 trillion. valuation,s than the which is around 2 trillion. >> after looming in the early days, their assigned mounting that the real estate investment trusts market is starting to lose steam. i understand that you are with somebody who is not positive about the real estate. , bututiously optimistic the thing is that we are seeing low interest rate, wh

we are going to be talking to goldman sachs head of economic research.t is most concerning about brazil's underlying fundamentals. this is bloomberg. ♪ mark crumpton. time for first word news. president trump will stay true to the pledges teammate on the campaign trail. mulvaney unveiled the blueprint of the budget today. as the president is going to keep promises the kept on the campaign trail. you will see no reference to social security, medicare, medicaid here or any of the mandatory programs. that is not what this budget is. this is the discretionary part of the budget. half of which is defense and they off of that government. mark: the current administration will release the full budget in may. the president and microsoft founder will meet monday in .ashington the bill and melinda gates foundation put out a statement today highlighting concerns about mr. trump's budget proposal saying it would make the world less prosperous and less safe. the foundation says it is troubled that it affects the poorest people in the u.s. and overseas. officials in so

research institutions. i will give you examples. speaking with the heads ofor hospitals and research institutions, they right now do not know if they can go ahead and bring over the research fellows that have been hired, the professors hired, who want to come and do scholarship here. they have researchers and professors who work for them who they do not know if they can keep them on, because they do not know if they will be able to fill contractual obligations, given the order. it is creating havoc, tech and life sciences, biotech, they are the driving force in massachusetts and in our economy. they are a driving force in other regions of the country, you were talking about silicon valley, this hurts and it has an economic impact and is why you have seen states come forward and to challenge it, but you have also seen major businesses and major industries come forward and say, this is wrong. not only is it not american and consistent with who we are as a nation, you think about the amazing companies that have been built by immigrants. it is also really counter

you hold them harmless, then you even have less to invest in education, research and development. 100,000 kids kicked off of head start, probably 3 $3.5 billion cut from the national institutes of health. that's probably 1,000 grants to scientific research that we won't be able -- wouldn't be able to do. for example, if they did a 10% cut across the board. the list goes on. it's tragic, really. again, budgets are supposed to be a statement of our values. how we honor our responsibilities to the people to protect them, to be number one in the world in terms of our economic growth. president also said when he was saying this that he was promising clean air and clean water. he's going to cut the e.p.a.. does he not know the connection in een protections that are an environmental protection agency and air our children breathe, the water they drink, the safety of the food that they eat? and the protection of their neighborhoods, what is he going to do to the justice function and the law enforcement function in the budget? all of it will be subjected to cuts according to what he's putting forth. we haven't seen a budg

holding them harmless, then you have less to unvest in education, are research and development, and 100,000 kids kicked awe of the head start and 3.5 bi$3.5 billi from the national institutes of health, and that is probably 1,000 grants to scientific research that we won't be able to do for example if they did it 10% cut across the board. the list goes on. it is tragic. really. and again, budget is supposed to be a statement of the values and how we honor the responsibilities of the people to protect them, and to be number one in the world in terms of the economic growth, and president also said that when he was saying this, that he was promising clean air and clean a water, and he is going to can cut the epa and does he not know the connection of protections that are in it in environmental protection agency and the air our children breathe and the water they drink and the safety of the food they eat. and the protection of their neighborhoods. what is he going to do to the justice function and the law enforcement function in the budget, because all of it is going to be subjected to cuts according to what he has puttin

we want to dig deeper into the markets with tom lee, managing partner and head of research at fund stratrs and steve white from citi private bank. tom, i want to start off with you. you say take a pause right here. >> yes. i think the market being down one day being isn't going to say we should change the trend, but i think there has been divergences between the stock market and high yield and small caps and commodities. to us, it makes sense that other markets are saying the s&p may need some time to consolidate these gains. we really wanted to be more cautious in the first half. >> how do you interpret this pullback, steve? the context of it is not just what's going on, on capitol hill, but also we've seen yields come down. we've seen gold at the highest level since the beginning of march. the safety trades are back on. what's your interpretation of the market's movements? >> within equities, this is the first time in a long time where sector rotation hasn't protected the broader market. that does show a little bit of exhaustion. we've had a big move since november. we could never rely

. >>> all of you headed to the gym today, as we research what kind of exercise will help you look younger. we'll have those results. >>> as villanova begins play in the big east tournament this year, we're getting a look at what's in store for their home court next year. the university has unveiled its plans for the new pavilion. this is what is will look like after $60 million in renovations it, it will be renamed the finneran. in time for next year's basketball season. >>> and celebrating women in sports. they held the symposium at drexel university, called tom boy. tom boy airs monday night at 8:00 on csn. and also last night, comcast executive david cohen presented the boys and girls club of america with a $50,000 check. comcast is the parent company of nbc10. >>> a good one from our south jersey boy. a 7-year-old gets top honors for calling 911 and helping to save his mom's life. >> last night, rafa got to meet the man on the other side of that 911 call. both wade and rocco were presented with certificates at the burlington courthouse in mt. holly. wade spent several minutes on the p

kim wallace is the head of washington policy research. he's worked for lehman brother, senate budget committee and tim geithner. a pleasure to have you. welcome to the show. >> that you thin >> thank you. >> john harwood said the budget proposal going through is slim, but from the proposal itself, can you glean what might come out at the end of sausage making process and which sectors would actually benefit? >> john gave you a good walk through the process. it's the directional signals that you pay attention to. they are statements of priorities or principles. and the strong budget that the president sent is that there will be boosts in national security spending. he's unlikely to get all of the money he requested and it's unlikely to come from nondefense programs. but also in that skinny budget is a request of $30 billion for this current year for spending at defense. most will go to war fighting. and your colleagues are both with right, the run in defense stocks started in the summer of 2013 when the u.s. decided to take on isis after t

global a group head of market research. ,ou can catch up on the stories for bloomberg's private -- bloombergoomberg go on your terminal. you can also check on the go. play the more to come on "daybreak asia." this is bloomberg. ♪ ♪ yvonne: this is "daybreak asia." the price of oil has been weakening recently. australia had the opposite problem. prime minister malcolm turnbull is meeting oil and gas executives today to address rising domestic energy prices. let's bring in paul allen from sydney. what's the problem here? little bithey're a backwards here. so much of australian natural gas get exported, mostly to asia, specifically japan. that combined with drilling bans in some australian states has crippled supply. thegroup, which represents interests of 60,000 australian companies, says the price for gas and the state of victoria has gone up from six dollars toividual -- six dollars $26. 7% onshares were up tuesday after announcing they might relocate offshore, because it's gas prices have gone up by 76%. but the context of this meeting between turnbull in the oil and gas executives. he is b

the event was part of the effort to raise funds for childhood cancer research. it was the site of today's fundraiser. the headng was followed by a silent auction. >> dozens of children showed off their skills this afternoon in north philadelphia. '76ers and temple university hosted a basketball competition called bounce out the stigma. >> time for a check of the forecast with meteorologist melissa magee. it's chilly and raw. >> it is. it's gloomy outside. we have sunshine returning for the second half of the weekend tomorrow. >> storm tracker 6, rain south of wilmington right now. rain showers moving into dover. lancaster, mixed precipitation in lancaster county. the majority of the low pressure sliding south and west overnight tonight. here's a picture outside the action cam earlier tonight looking at the tops of the buildings in center city. hard to make some of them out. we have clouds, low level moisture as well. currently in philadelphia, 36. dewpoint, 34. when the numbers are close together, we have saturation in the atmosphere. winds out of the northeast at 1. the windchill coming in at 27-degrees. tem

we'll be talking to a former head of the civil service about the challenge ahead. as new researchgests charging coffee drinkers extra could cut the use of disposable cups by up to 300 million a year, the tv chef hugh fearnley whittingstall will be telling us about his campaign to tackle the mounting waste. and in half an hour, 100 days will be looking at the claims russia interfered with the us presidential plus all the latest from the white house. that's all ahead on bbc news. now on bbc news it's time for sportsday. hello and welcome to sportsday with me, will perry. the headlines this evening. wenger insists sanchez and ozil want to stay at arsenal but says his own future isn't completely sorted. fifa announces how the expanded 48—team world cup will be divided up in 2026, with europe set to get the 16 places they wanted. there's a 147 forjudd trump in beijing as he heads into the quarterfinals of the china open snooker. for you now. and join me ahead of match's bid to join the last four of the women's champions league. —— manchester city's. we start with three premier league m

vonnie: kim wallace, head of washington policy research, sticking with us.nt trump's budget proposal, and what to expect from the fed. this is bloomberg. ♪ ♪ live from london, i am mark barton. vonnie: from bloomberg world headquarters in new york, i am vonnie quinn. we are back with kim wallace. our focus turning to president trump's proposed budget and the latest decision from the fed. anything in the budget that surprised you? kim: i did not see many surprises, and of course congress will fund government for fiscal 18 and the rest of fiscal 17. budgetsident's submissions are pro forma exercises mainly to state philosophy or principal, so the good news is this has been delivered and congress can begin the work of funding government. vonnie: do we see a shutdown or a final budget that is materially different the types of budget we have seen in terms of cost? three departments that are getting more spending and everything else is cut by as much as 1/5 or more. kim: my guess is at the end of appropriationse when you add them up will look different, if not rad

researchers are studying how to make them safer, with the help of dummies. check it out. >> what is the risk of injury if a drone impact occurs? is it serious or fatal? we head world's largest injury biomechanics research. we do a lot of research on brain injury, concussion, and skull fracture. it's all about head injury risk. what we have is a hybrid test dummy. the same dummy used to certify your car. we use that to get an idea of the interaction between a drone and human. the aircraft are flown -- horizontally at maximum speed. once the impact occurs, data is gathered to measure the g forces. we look at quantifying injury risk and we look at acceleration and load. we can take the acceleration and compare those to other research we've done for other safety and the military and that's how we determine injury risk. if you look at cars and automobile safety, we put an incredible amount of work and time into making sure they are safe. we are hoping to have the same sort of analysis for drones. you have some sort of parachute device, if it's not rigid and breaks apart on impact, that will reduce the energy transfer. there are a lot of things we need to better u

of passing the proposal. >>> joe biden is heading back to university of delaware to launch the biden institute. his research and policy center will focus on economic retborm retborm -- reform to civil rights. he will be splitting time between that campus and the university of pennsylvania. >>> nick foles signed a two year deal to play back up to carson wentz. he wasviously with the kansas chiefs. >>> wildcats were the overall number one seed for the first time in team history. they don't play until thursday night, but they are leaving for buffalo this afternoon to beat the storm. nope. what is this thing? sir, have you looked in the basement? huh. oh, yeah. no wonder. it was hidden behind all of my free weights. if you're not an expert, peco can help. we have lots of ways to help you save energy and money. peco. the future is on. hover board sparked a deadly fire in pennsylvania. the hover board was charging in a home in harrisburg when it went up in flames on saturday. a 3-year-old girl was killed and four others injured. >>> a firefighter died in a car crash on his way to battle the blaze. he was heading

with us now is the head of global automotive research. thanks for the time this morning. e question is, if this is a good asset for general motors to get rid of, why is this a good up?t for peugeot to pick >> the hope. is that opal is in better hands with the european partners. with ald be easier than partner who is making completely different cars in the u.s., which is far less expensive. they have been a fantastic job of streamlining the business and the hope is he can do the same. u.s.,having come from the i know that used car lots in america are on the point of overflowing here. this is not great news for growth in new car sales. how does the european situation look, concerning used cars and the possibility of new car growth? >> europe is at peak profitability. it is a very healthy situation. we see car pricing, the average discounts. to give you a reference point, in germany, they are at 11.5%, a very low level. historically, they were up to 13%-14%. inventory levels are good in europe. capacity is pretty high. of course, there is uncertainty coming from brexit, the f

the chemicals found in head lice treatments could lead to bad behavior in your kids. that's according to a new study out of france. researchersnd that a chemical used to treat head lice on kids... and fleas in animals... could lead kids to develop social problems by the age of six. the chemicals work by damaging the nerves of insects.. and researchers say that could have the same affect on the development of a child's brain. companies that make lice treatments say they are reviewing the report to determine if they need to improve the safety of their products. papa john's is facing a lawsuit this morning. a man from beverly hills is suing the pizza chain because he says the sent so many promotional text messages... it caused him anxiety. the man says he started getting the text messages in march of 20-16 without his consent. he says he replied 'stop' several times... hoping to bring the messages to an end... but they kept coming. his lawyers say papa john's violated the telephone consumer protection act. the man is requesting a jury trial and compensation for what he describes as disruptive texting. papa john's say they send t

dan clifton is head of policy research at research partners and our guest.kets indicated down today, guys and there's been some conjecture that sooner or later these distractions will start having people worry about the policy that the market has been depending on to keep going up. you think we're at a point where we're seeing that? >> i definitely think each week it gets more complicated. saturday was a very big deal np discussion previously i think missed the point. we're no longer talking about jeff sessions. the president is trying to say there's leaks happening from his administration. he's trying to get in front of that to focus on the agenda. this week health care, look at the new york times talking about all the regulations being slashed and congress continues to work towards what that is dp going to be. energy deregulations, then health care, then tax reform. that's a pretty progress agenda and the market has been resilient because they see ahead of that despite all the political noise. >> today we're going to be talking about the new immigration or

. >> we came to london to meet up with james line, the head of global research at sophos security.st your individual privacy at risk, america and its critical infrastructure are vulnerable. >> we have a map showing industrial control systems that are exposed to the internet. >> power stations, water systems, telecom. >> that's it . >> in the u.s. alone, 13,000 systems that should have cyber walls around them, but instead are virtually unprotected. >> we can see a large number of industrial control systems that are exposed. >> hackers could walk right in. >> it wouldn't even require high tech tools. >> it could be industrial espionage, it could be a foreign country. they uncovered this fake e-mail purportedly from the embassy of quatar inviting diplomats to a party. >> if a foreign government is to grab your state secrets? >> that's essential it. when you click that but waton y allow an attacker into your system. presumably. >> tracking the hackers has proven elusive. >> there's a lot of cyber crime infrastructure in russia, china, and eastern europe. but the truth is, the person co

more on opec with michael:, barclays head of commodities research, coming to you from new york.berg. ♪ jonathan: from new york city, the fx market, a weaker dollar story against everything. look at these two currencies, the euro it's a 2017 high, up .8% on the session. the cable rate at 126 for the first time since early february. vix, big moves. as far as the price is concerned. as far as the politics is concerned, german chancellor angela merkel's party easily won elections, highlighting the challenges facing the sdp and trying to deny her a fourth term. the data supported the euro as well. german business sentiment climbed to the highest level since 2011, indicating the economy is sustaining momentum. our guest is still with us. politics is messy, but why would you be putting any hedges on the head of all this political action when the base case still remains that merkel comes twin, ande pen one the data looks good? allith brexit specifically, the concern and hedging that went on beforehand wound up being almost a risk on type event when the dust settled. it's an important po

joining me now is professor richard whitman, head of the school of politics and international relations at kent university, and senior research evening to you. good evening. what is your assessment of this evening's events in parliament, and where this takes us? i think what it has done is to really strengthen theresa may's position. this was a process she didn't want to go through, taking article 52 parliament. she was forced by the supreme court, though, and i think she has ended up now as we have seen with the parliamentary arithmetic, much, much stronger than might have otherwise been expected, and it clearly demonstrates, i think that gives her a very strong hand for going into the negotiations with the eu. one of the issues that is difficult with this debate is the level of parliamentary scrutiny there is going to be through this process. how much do you think there commons and the lords now is taking a look at some aspect... going through every aspect with a fine tooth comb, picking up some issues which can get explored at length in the referendum and i think what we are going to discover between now and the summer is

the head of global strategy from unicredit research joins us. it's about that point about whether or not we could be looking at the ecb hinting or indicating that tapering could be coming off the table at some point, whether or not that's a more hawkish outlook from the ecb. >> i wouldn't call it more hawkish. potentially less dovish. i think there is distinct possibility that they remove the ratings in bias where .. .. .. .. .. .. .. .. .. has moved into a strong trajectory. last year eurozone outpaced the u.s. since 2006. the ecb should be reducing bond purchases by 10 billion euros per month by april. is he getting ahead of himself? >> i think what really matters is with the ecb is going to do, and i don't really see them being in any tapering mode any time soon. from a discussion point of view this will start being circulated, hitting the news sometime the second half of this year. having said that, from a market perspective, the market can move to start pricing that ahead of the event taking place. >> as invasion ticks higher, at what point

head. they have a mother off of maui appearing to do a head stand. drifting with her tail out of the water, catching the wind like a sail. this is rare for humpbacks and researcherst is a way to rest, nurse or just try to stay cool. >>> however, if you saw the star trek save the whales movie, you would have seen that move. i did. join us for abc 7 news at 5:00. >>> welcome to "world news :00. tonight." breaking news. chaos on the strip. a gunman kills one then squares off against s.w.a.t. teams in las vegas. a section of the strip shut down. this just hours after the bellagio hotel is put on lockdown after armed burglars wearing masks attempt a major jewelry heist. >>> also developing, brawls breaking out at a pro-trump rally in california. this as the white house re-groups after the devastating health care defeat. vice president pence announcing the war on obamacare is not over. details on president trump's next move. >>> night strike. the tornado. dangerous winds and hail hitting in the middle of the night. this church destroyed. >>> deadly crash landing. imagine coming home to this.

of today's annual st. baldrick's head shaving fundraiser. representatives squared off to see who could raise the most money for research. >> childhood cancer sucks and it's an underfunded facet of cancer research as a whole and st. baldrick's does a great job funding childhood cancer research. anything we can do to help, just farmer our hair, i'm game. five years not shaving my head and the staff in here wouldn't let me do locks for love because they're like we're going to raise a lot of money next year. we made a pact and now we're here. we're sitting at 14-plus. >> together we've raised over $15,000. >> that's a lot of hair to shave. $15,000. good for them. today's event includes drink specials, raffles, and a silent auction. >>> understanding neighbors in need sometimes means walking in their shoes. the nonprofit group a wider circle is dedicated to ending poverty. today they hosted an immersion experience to help people understand the poverty. >> i'm at a wider circle office at silver spring. typically this area serves to the poorest members, a place where they can pick up furniture, clothes and more. now it's been transformed in to a set me

in speaking with heads of our major hospital institutions and research institutions, they write now don'they can go ahead and bring over the research fellows who have been hired, the professors who have been hired, who want to come and do scholarship here. they have people who work for them as researchers and professors who they don't know if they can continue to keep on because they don't know if they will be allowed to fulfill contractual obligations given the president's order, so this creates all sorts of havoc. biotech,e sciences, they are the driving force in massachusetts, and they are also a driving force in other regions of the country. you were just talking about silicon valley. this hurts and has economic impact. it is why you have seen not only states come forward and challenge what the president has done, you have seen major businesses and major industries come forward and say this is wrong. not only is it not american and consistent with who we are as a nation, you think about the amazing companies that have been built by immigrants come it is also counterproductive and harm

to get more perspective on the technicals of this market, we go to the head of technical at strategic researchins us now. we have been floating along and then a day like this happens. does it contain -- change the technical picture much? >> no, i don't think it does, and we want to approach this as sober as possible. this is a shakeout after a really good value of six-plus months. the banks in particular are taking the heat over the decline. important to remember, 100% of the banking index is still above the 200-8 moving average. we're not seeing the internal deterioration that you often see. 2.75 on the s&p chart as the level where you want to step in and be a buyer. scarlet: financials strong candidate to buy on the dip. chris: this was a very big move on a short period of time and we are not seeing the internal deterioration that is often found at the top. joe: you look at all the categories with the idea that were this the real thing, you want to see at least some evidence that somewhere around the board you are seeing the fall apart. we are seeing a general decline but not the bottom fall