eicoeye icahn's help will be invaluable.ut icahn won't be forced to give up his mass and i have portfolio built upon investment, automotive, energy, gaming, rail car, mining, food packaging, metals, real estate. all could be affected by his regulatory reforms. so democrats are suggesting that the position is pay back for past business deals in which icahn helped trump and for icahn's political support too which clearly delighteded the candidate. >> kathat's a good endorsement. >> reporter: even those who think he might do a good job are urging caution. >> he will be watched and he has to tread carefully. >> reporter: he wouldn't have to be confirmed by the senate nor would there be any congressional oversight. still, the trump transition team says don't worry. >> obviously there are proper oversights and plenty of transparency when it comes to how it all ultimately comes together. >> reporter: and icahn? he told cnbc he will an up paid sharing his knowledge helping choose a staff, nothing nefarious in that. >> i'm not making

the president-elect calls on carl icahn to combat excessive regulation. it's thursday december 22, 2016, "worldwide exchange" begins right now. ♪ >> good morning. welcome to "worldwide exchange" on cnbc, i'm sara eisen here with dominic chu in for wilfred frost today. >> good to be here again. >> throwback thursday, of course we throw back with holiday classics. >> mariah carey. >> let's check in on the global markets this morning after stocks took a pause yesterday on the march to 20,000. pulled back a bit. not much. the dow futures now down six. s&p down two. nasdaq futures down seven. >> much like it was yesterday at this time. >> the losses were fractional. >> we were at 40-point trading range for the dow? 50 trading points? >> tight ranges, lower volumes, holiday lull. just when you thought we would get up to the 20,000 number. not that far away. >> we're not that far away. 20,000 >>> good morning. number is kind of like a psychologically important number, maybe for some out there. it's a march to bigger better things down the line. you wonder whethe

icahn's comments. this is not about etfs.his whole debate is about passive investing versus active. mr. icahn is a legendary active investor. they have always disliked passive investing. that's a fair comment, but millions of other people have found the benefits of passive investing. just bring in larry from blackrock and he'll tell you he spent a lot of money on those people's wishes. >> the irony is that a lot of active managers use the portfolio in order to protect parts of their portfolio, but in terms of the flip side, it's also worth watching the publicly traded asset management companies because those guys have been pummelled with their costs. their cost model really being under attack. >> that's right, so you've got guys lix waddle and reed. >> janice. >> much of their models are based upon funds that involve active management and they're trying to figure out a way to lower their costs to provide active management still. vanguard does this. they provide active management, but at much, much lower costs, so some of it i

icahn would play a central place in the chairman and exchange commission appointee.uent guest on this show. mr. icahn said the problem isn't the taxes as high as they are in this country, it's the regulations that make it next to impossible for american companies to do business. when it comes to advising on the s.e.c. there are many icahn critics seizing at this saying to an not gas to the fox selecting who is going on the overseeing the hen house. be that as it may the read right now from the democrat extraordinary who could -- could be taking on the new york mayor, bill de blasio who recently met with the president-elect, president-elect is a big fan of his. what sdaung do you think of all this? we're waiting to hear from mr. trump and he is with a number of admirals and generals. we don't know who but he's been meeting with who's who in the defense arena. and seemingly telegraphing when it comes to the defense contractors that they're not sacred and this is a republican and a republican president who will watch their contracts and watch how much thiey spend. what

carl icahn has this sort of swinging title. have plenty of free time to rom back those regs -- meghan: but it's okay because he's not going to get a salary. harris: by the way, he was asked about that, and carl icahn says he does not have specific duties but will talk to mr. trump as he has before. >> yeah. i think -- and then, of course, peter navarro is also going to raise a lot of eyebrows especially on the republican side -- gillian: because he's a democrat. kennedy: used to be. frustrated democrat. >> a lot of people, a lot of conservative republicans in washington are really worried about the issue of trade and whether donald trump is going to be a protectionist. i mean, if you listen to the way he campaigned, he could sort of fall into either category. i happen to sort of think that a guy like that is not going to be anti-trade completely, that it's somewhere in the middle. but picking peter navarro is certainly -- kennedy: what must china be thinking, r charlie? [laughter] and we've talked about the madman doctrine and

what will be carl icahn's role?cahn is someone who is a successful businessman and a leader in the business community. he will be advising the president-elect on a huge array of issues and using his experience and relationships to help america get to where it needs to be which is 3% annual gdp growth. we will have that and much more. david: you know washington terribly well. you know there is some resistance when people come in from the outside. people talk about that, it is hard to get done. what is the secret sauce for donald trump and carl icahn to cut through that bureaucracy? boris: it will be working with congress and going straight to the people and being their voice and saying this is what we want. we want the market to be high in a real way, not inflated where it may be right now due to low interest rates, but really growing substantially and substantively. david: peter navarro, someone who has been on this program in the past. he is outspoken when it comes to trade and china. is the president-elect sending

what does dodd/frank look like under a special adviser icahn? >> yeah, well, look, as far as dodd/frank is concerned -- let me tell you something. i talked to donald. i will say that donald is extremely intelligence guy and he's his own man. i will continue to talk to him and the reason that i think it's good that i have a title like this is i've been getting questions almost every day or what role am i taking? i hear you talked to donald. are you talking to him? i'm an adviser in this area to him. and i intend to spend a lot of time on trying to clean up this major problem in our economy. it's really as simple as that. >> do you think there are too many regulations on the banks? >> yeah, there is too much regulation on the banks. and it's almost as ridiculous. you shouldn't be allowed to talk to them because they're the ceos of the bank. that's the problem for the last eight years. the advice is coming -- and i don't mean to demean these people but from 25-year-old kids who have this outside say in what is going on. the amazing thing a lot of t

in, he'sl icahn comes been targeting regulations.f they can reduce the friction in the economy and make the potential growth rate rise, maybe some of the fiscal stimulus does not become inflationary and maybe the fed doesn't have to raise rates. here's a guy that knows his way around the regulatory structure story. -- johnson cabinet went for the word. >> there's a lot of wall street and business on this. one could say that is actually a good thing. graseck you believe the u.s. where its in a period is entering a phase where he can grow more strongly, then yes, they need to figure out a way to get potential growth rates up, and maybe some of these people have the ability and skills and knowledge and understanding to be able to deliver that. this is the challenge of the next four years. larry summers needs to be proved wrong. carl icahnys like coming in and a lot of wall street people coming in as well. our markets abroad going to take this appointment? you're saying there's a lot of wall street on this, but what does it mean in terms

icahn.arro's appointment reinforces one of the basic divisions among mr. trump's trus economic advisers that they they favor increased tradevor in restrictions.st joining us to talk about this is republican strategist jacktac burkman. always good to have you on the show. >> merry christmas guys.sh guy >> let me first start by m asking you whae t do you thinkhi about peter navarro and his qualifications to be in thisioni position. >> i think it's terrific.errifi. it's a great idea that trump th has all of these businessusiness people in the cabinet.len th that's really what's beens bee lacking with obama the last las eight years and i would say to t people even if you're --oue whether you're a democrat democ republican independent there'sne so much waist in the couryist ic right now and the waste is not i just obama it's built up overp e the last 50 years, it's reallyll time to have a business personer that can tighten the screws ther all the way around. arod. >> now when you also look at at

carl icahn as a special economic adviser. good morning. i am nicole petallides. lauren: good morning. i'm lauren simonetti. stocks take retreat yesterday. the dow that takes two points away from the 20,000 milestone. let's check in and see a stock futures are faring. can we see 20,000 today? dow futures are down eight points. the stocks edged lower within edged lower with the nikkei slipping up 1%. lauren: oil prices falling for the first time in three days. down 16 cents. train to the 10 year treasury yield about 2.53% this morning. lauren: in germany, an intense manhunt. not the main suspect is considered armed and dangerous. nicole: the art of the deal under pressure from donald trump to cut the cost for air force one. lauren: regulation nation. lugar called a scratch on the streets of san francisco after pressure from regulators. nicole: and sports company duke pasco player finds himself in hot water for tripping on a opponent. lauren: good morning. 5:01 a.m. in new york. pushing closer to christmas day. welcome to "fbn:am," your first look at morning markets

the president-elect calls on carl icahn to combat excessive regulation. it's thursday december 22, 2016, "worldwide exchange" begins right now.

finally, billionaire carl icahn has a controversial role in the trump administration.ll dig in on that and find out what the controversy is coming up on "squawk alley." >>> as 2016 draws to a close, cnbc is looking at ways you can make money in the coming year. this hour we're going window shopping with retail. here's courtney reagan. >> retail was all about online shopping in 2016, and 2017 it may be all about leadership and policy changes. here are three predictions for the new year. longtime macy's, starbucks, and df ceos have announced they're retiring in early next year and they won't be alone. as the piece of change in retail accelerates, look for more longer-term ceo seats to change as well with a combination of retirement announcements and upheavals. look for new ceos with more diverse experience to step in. >> retailers that source clothing and shoes from overseas may have to go back to the drawing board when it comes to their supply chain. if trump talk of major change on trade, tariff, and imports regulations are realized, it could increase costs and compres

they're adding to it with carl icahn.f they kept him as a nonofficial adviser, a guy that donald trump occasionally has coffee with, that's one thing. now this opens them up to constant monitoring by critics and antagonists in washington. that will ab constant theme going forward. >> icahn's probably got 10, $15 billion. he's 80 years old, can't possibly spend it. gives most of it away, the left, that's what they'll look for if he can make an extra 100 million here or there? >> i think so. >> if he wouldn't possibly spend the 15 billion he's got and giving it away, oh, he made a couple hundred dollars. it's ludicrous. what was the other thing i was going to say, uc irvine, university of california irvine. make that -- orange county. i don't know. he might not -- >> separate from the rest of the uc system. >> i know, it's what people do. accountability. we have to watch the conflict. i understand. i just think we should keep it in the real world occasionally. it's not someone that left the white house broke and then was ab

carl icahn joins me on the phone. thank you so much for being with me.s huge rally, did you make a mistake by not betting more the night of the election? >> yes, i did. i was going to say i'm happy that i did buy that night. i'm sad i didn't buy a lot more. t playing the market and trading is a very difficult endeavor. very few, if any, can know it. you are never going to be right all the time. that's not what i do anyway. >> how much of this rally, krachcarl, is a direct reaction to the election? how much is about the president-elect? >> it is completely related to trump and the way he has handled it. the world believes that things are going to be very bright. is that the case? there are many problems ahead, many bumps in the road. i think donald is completely on the right track in the things he is trying to do. obviously, it will be difficult to do a lot of them and there will be bumps on the road. >> we have seen him taking on individual companies. this week, it was boeing for the $4 billion price tag that he said the new air force one will cost. pres

icahn is not making policy.e is simply advising the president-elect and in particular on dealing with regulations and potentially candidates to chairman of sec. president-elects over time receive a lot of input and the public doesn't know about it. they don't know who is advising or what their advice s. in my view this is a step ahead of what often transpires and is an opportunity for the public to know who will be rendering some of the advice. >> and plenty of ceos have heard what he said about them needing more accountability. we will see how that plays out. the other thing is epa but interested in your thoughts. mr. icahn has lobbied against what it is doing with rules that directly effect companies trying to get them rolled back. is that just business as usual or is there something about this that is uncooth or is there a reason why the public is having sort of the wool pulled over its eyes here? >> i think the important thing is that the president-elect has surrounded himself with a number of top flight adv

icahn have known each other for 30 plus years, carl icahn was a very big supporter. he is a terrific guy, he is one of the most commercialy smart people, you remember i hosted the show called "wall street week" for fox business network we have carl on more than once, he has an unbelievable life story. you hear president-elect on campaign. he wanting to bring killers like carl icahn in to work on behalf of the american people. if that were to come to pass, i would be thrilled. i have a personal relationship with carly, and inthat president-elect respects him, but it has not been confirmed him. >> thank you for joining us. >> you can call me anthony, mr. scar mr. -- smarra meuchy is for my dad. >> thank you, merry christmas, happy hanukkah. >> refugee resettlement accelerated at a record pace in president obama's final month, u.s. will resettle more -- this phys ca fiscal year, scott walker once tried to block syrian refugees from his state, he is now asking president-elect trump for more power over resettlement. here he is defending his reasoning on fox news. >> a ref

in the early 1990s, icahn came to trump's rescue. icahn has a long history of financing trump casinos. >>> the transition team is said to be talking about quickly imposing tariffs on foreign imports using executive action soon after he takes office. some fear it would ignite a trade war. sources differ on whether talk of tariffs is serious or a trial balloon to gauge. trump named economist peter navarro to head the national trade council. navarro is regarded as a hawk with long, sharp talons on china. >> even the ministry of china was asked about it. >> a subtle indication. >>> another job the administration is working to fill. it is turning out to be a bit of a struggle. the former ambassador to the u.n. john bolton. is unclear if he can get enough votes in the senate foreign relations committee. even bolton's boss rex tillerson has reservations about him. the candidates search is moving to other less known names. >>> donald trump's adult sons removed in the board of a charity poised to give access to the president in exchange for d

carl icahn is being named as special advisor to donald trump on regulation.g, carl icahn has been very vocal about what regulations he think the government should get rid of. aboute has been talking this. he was a big donald trump supporter for a while. he made a bunch of money trading on the markets the night donald trump one -- won. scarlet: he definitely has skin in the game. he is being named especially advisor to donald trump on regulation. he will advise on the selection of the next sec head. steven wieting, the global chief strategist is still with us to talk about his risk outlook for the global economy. i want to bring up this chart from mike mcdonough h. of recession are holding steady and falling across g7. the u.k. is the blue line. the data has been better than economists have been anticipating. that is the red line. the u.s. has helped study 20%. these are all recession forecasts. >> take a look at those when you are about to approach a recession but not yet in them. they tend to stay quite low. >> you don't have any warning? >> there are usuall

carl icahn and thomas lee both said stocks would go up.gross nailed it on bonds claiming yields would rise. taleb said not to worry about a trump win. jim cramer was right to focus on the stock of kansas city southern. at least for now it's clear the experts in general did not see what was coming. they might have a chance to redeem themselves once january comes and trump actually takes office. back to you. >>> hillary clinton made her first visit to capitol hill since losing the presidential election. at an event honoring the retiring senate majority leader, harry reid, clienten dnton disp sense of humor about her election loss. this is not exactly the speech at the capitol i hoped to be giving after the election. after a few weeks of taking selfies in the woods, i thought it would be a good idea to come out and i'm very grateful to harry for inge viting me to be part of this celebration. >> secretary clinton used the occasion to talk about fake news, calling it a danger that must be confronted by congress and the private sector. >> let me

carl icahn called me. carl icahn's a great guy, very successful.f i put carl icahn in charge of trade with china, believe me, believe me, we do great. >> there's also some new reporting about people who are not trump's ideal candidates for administration jobs. you got to read this new "washington post" piece. it basically says the president-elect wants his administration figures to look the part. it's about presentation, about swagger and demeanor, the piece says. quote, several of trump's socials said they thought john bolton's brush-like mustache was one of the factors that handicapped the bombastic candidate for secretary of state. i can't think of anyone that's really close to donald that has a beard that he likes. >> got to watch out for that facial hair. >>> all right. less than ten days from 2017, but it's just 1,412 days from the next presidential election. i don't even want to think about that. on the democratic side, the clear front runner is someone you've probably never heard of. quote, someone entirely new is the candidate that excites

icahn reportedly been advising trump on his choice for the next chairman of the sec. we have charlie gasparino with the latest from the newsroom. hi, charlie. >> this is only breaking news, if you didn't watch fox business because we've been reporting this for weeks now, and i guess now it's official because we reported a couple weeks ago on foxbusiness.com and on air that carl icahn was weighing both an official and an unofficial role. what he told us at the time when i got the tip about this, he was leaning towards unofficial role, almost 99% sure he would do unofficial role to advise trump on economic matters. that's what this is. he's going to be an unofficial adviser, an outside adviser with, i guess, a special code to the president, maybe with the president's cell phone number on it where, he's going to be talking to him and advising him on economic matters, regulatory matters. and i'll tell you what's interesting about this, in my view, you know, unlike other presidents who are afraid to appoint successful people to top jobs, afraid that somehow the notion that

trump select with sec, carl icahn as adviser to donald trump, for me, this is the best. it is wonderful. and i feel -- like this was a dream come true. he -- trump was talking about it throughout campaign, and joining me now is chief economic at moody's john lonski, i hope we get a similar view. i think icahn is one of the smartest people in the country. >> you don't get to be a billionaire without being very smart. i think he will be helpful, provide trump is guidance, to how what goes about reforming business regulation, that could go far. at rejuvenating this economy. lou: as we look at what happened already, as president-elect. donald trump is having an impact. i have to believe there are people in every regulatory agency in this government saying to figure out what is their next job. i know not going to be easy to move them out. >> the optimism numbers are incredible. gallup poll with highest in its history, of course, the history is just 9 years, but that is a lot to be said. lou: market is a measure of confidence. we're watching billions of dollars flow into the m

you know the etf world as well if not better than everybody. >> i love carl icahn. he's got to worry about some other things. look, carl is an active investor. we know active investors have always been a little bit hostile towards investments. the great thing about etfs, they're perfectly transparent. you see every minute, exactly what you own. if you own an s&p, i think i know what i own. i own the s&p. i don't see the problem. i don't see an investment ideology conflict. >> he's not talking necessarily about the tried and true etfs that most investors are putting their money into, the sby, et cetera. he's talking about some of the more ill liquid ones that could have some genuine concerns that a good part -- a portion of investors don't know about. >> why don't they have that concern about mutual funds? there are plenty of obscure corners of mutual funds. high yield bonds, did mention that one. 3%, probably high yield bonds in the etf space. very small. most of it in the mutual fund space. and that's where the big problems are going to occur. not in etfs. i don't

billionaire carl icahn will be a special adviser on regulatory reform. icahn owns the tropicana casino in atlantic city and the shurterred strump taj mahal. the taj mahal closed in october after a benefits battle with the casino workers union. earlier this week, new jersey lawmakers approved a bill that would prevent icahn from reopening the casino without union labor. the bill still needs governor christie's signature. >>> tonight dozens gathered to remember a young boy killed when his cobbs creek home went up in flames. >> give us peace. >> an emotional vigil tonight for 11-year-old elliott jenkins. it was held outside the damaged home. family and friends also released dozens of balloons into the air to honor him. jenkins was killed when fire tore through the house last friday. his father also has serious burns but has been released from the hospital now. still no word on what started the fire. >>> new at 11:00, an effort to end north carolina's so-called bathroom bill, it has failed tonight. lawmakers rejected a repeal during a special session today.

puts icahn in place to profit off regulatory changes overseas. do you agree with that? >> this, don, valely bo really . carl icahn is not going to go into the government, not divest himself of his holdings, not do what the other cabinet officers are going to have to do. he's going to be able to say outside the government, directly benefit from the regulations he's going to appeal, change, whatever. he's going to have inside information and be able to trade on that without anybody saying anything. he's in a position to change the rules of the guame and benefit extremely without having to divest hich divest hich divest himself of anything. this is the worst kind of situation -- >> rich, i imagine you want to comment on this. >> carl icahn is a well known corporate rater. people question his business ethics for many years and i don't see how he is getting involved in picking the next chairman of the securities exchange commission. i've done a lot of work in corporate finance and bank regulation for years and to see carl icahn being put in charge of this, that looks like th

>> carl icahn, picking the head of the s.e.c.s apparently donald trump is going to allow him to do, if that's not putting the hen, the fox in the hen house, i don't know what it is. it's by definition the fox is now in the hen house. if you let carl icahn pick the head of the s.e.c., and he does not have to divest himself of his considerable $25 billion fortune, it's like trading on inside information. >> right there, carl icahn being able to influence policy making and doesn't have to divest any part of his business, how extraordinary is this? he can -- if he can influence the epa, he can directly impact his billions and billions of dollars that he's got invested in the market. >> stephanie, it's like trading on inside information. he's going to be recommending policy, setting policy, picking the key regulator of wall street. and not having to divest himself, we talk about creating conflicts of interest. we have been talking about donald trump's conflicts of interest, his children's conflicts of interest. this is unprecedented.

so carl icahn, a billionaire activist investor.n many ways, this is sort of putting the official trappings on a role we already knew he was playing with donald trump. o one of the earliest supporters, very vocal about his support for the president-elect. clearly somebody the president-elect leans on for advice and council. and now will have an official capacity in which to do that. >> we also learned today that a harsh critic of china will lead the newly create the national trade council. china being a key trade partner. what do we know about this nominee, peter know varro. >> peter is a china hawk, somebody who also was an early supporter of donald trump. and this is creating an entirely new perch from which he can exert some influence around the white house with this trade council. navarro argued against trade deficits and a staunch critic of beijing. you can imagine this will not be taken well in beijing. and clearly trump is signalling here that trade is going to be so important to his administration as it was one of the key is

i get the carl icahn effect for a day or two. this stock trades over another couple of percent over the next couple of days, that's a name you want to buy. >> active managers who know how to deal with the etf-ization of the markets are the ones that are going to do well. you know how etfs push around certain stocks and you can take advantage. >>> ahead, trouble for a handful of stocks, we'll tell what you they are. i'm melissa lee. you're watching cnbc, first in business worldwide. here's what's coming up on "fast." >> announcer: there's something wrong with the chinese stock markets. >> what's that? >> antidote. >> to what? >> the poison you just drank. >> announcer: and why it could spell trouble for the trump rally. plus biotech continues its breakdown. but there are three stocks wall street thinks could double next year. meg terrell will break down the names and "fast money" returns. a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the val

mr icahn has criticized what he called "excessive regulation" on us businesses.nternational group and oil refiner cvr energy. chinese e—commerce giant alibaba is back on the us‘s "notorious markets" list over counterfeit goods sales. alibaba was taken off the list four years ago, but us authorities say the firm's online platform taobao is used to sell high levels of fake goods. the company has rejected the allegations, insisting it polices its market place better than in the past. while we are talking markets, here is how things are going in asia. interesting trade as we head towards the end of the year. japan is down by o.5%. the end of the year. japan is down by 0.5%. in the united states, and reminder of how the dow ended. whether we are going to hit that 20,000 today, we will see later. that is all from me for now. see you later. the government has announced it is going to reinvest more than {a40 million to improve high—speed broadband coverage across the uk. it is expected the thumbs, recouped from the superfast broadband programme, could bring better connec

he's also joined by carl icahn, who is going to be in charge of regulatory reform. taken together those two make clear that donald trump focusing front and center on trade in china. this morning we're learning new information about a potential early executive action that donald trump is also considering. that would be proposing a 5% tariff on any foreign imports. now that is going to be incredibly controversial among business groups and protrade groups and members of the republican congressional majority, particularly who are pro-trade. that is one of the early fights that will be happening in the administration. but we just a few moments ago got word that kellyanne conway is going into the administration. she's going to be named as a counselor to donald trump, a counselor to the president. she had talked about not wanting to join this administration simply because of her young family and other things but she will now be a counselor to the president, a sign that she will be one of his top advisers when he takes office 29 days from today. >> jeff, thanks for that bit

carl icahn on yesterday has watched the market go up like yesterday in amazement at the velocity that it has since the election. starting to get a little concerned, though. let's listen. >> as the market has been running up like this, i become more hedged. being that said, i still buy a lot of things that i think are very cheap. am i concerned about the market of the short-term? yeah, i'm concerned about it. okay? this is as simple as that. you don't need me to tell you that. >> i could get on the phone to say we're concerned about the market. what is the cost of saying that. there is none. what's positive about the market? >> what kind of person says there are no concerns. everything is fine. >> obviously everyone who is in this business, especially as long as carl has, has to say there are concerns. there are things that could arise that we should be concerned with. >> between the hours of november at that time 9th when he ran home from the trump party and bought a billion dollars worth of stock. he didn't seem to be worried about much there, but the market has run up so far so fast

icahn has spent time doing all sorts of things. he's reportedly playing an extra role in helping trump select s.e.c. i've got to tell you, carl icahn representing donald trump for me is the best. it is wonderful. i feel like this was the dream come true. >>> silicon valley has become the home of those bitterly divided over trump presidency. an oracle manager has resigned in a fit of righteousness because oracle's ceo has joined trump's transition team. and this fellow brimming, brimming with piety. george pozner is his name posted this open letter stating, quote, i am not with president-elect trump, and i'm not here to help him in any way. in fact, when his policies bordern the unconstitutional, the criminally and morally unjust, i'm here to oppose him in every possible and legal way. wow, when you see that come possibility and righteousness, it's something. he asserted moral and legal superiority in his gush of pure wre . >>> they decided to meet with trump and she pledged that oracle will help donald trump in any way that it can.

icahn endorsed trump back in december, 2015. sited ming president him as an example of a person he would take advice from. private sector growth raising the highest in a year. the index was held by a strong performance in manufacturing. retail activity slowed somewhat. up from five in july just after the e.u. referendum. global news 24 hours a day powered by 2600 journalists and analysts. this is bloomberg. mark? mark: let's take a look at what is moving the markets. stocks are moving in europe for a third day after rising to a 2016 high on tuesday. the stoxx 600. the euro is gaining against the dollar. after falling to a january 2003 low on tuesday. the u.k. 10 jori unchanged. data today included consumer confidence. little change for the month. the measure of the outlook for the economy is slipping to minus 23 from minus 22 excluding that sharp drop in july post bricts referendum. the lowest reading in million four years. crude is rising today. yesterday's stockpile data showed an expansion. worsened the inventory over hang, c

here's more of my interview with carl icahn.ett of oklahoma and a climate change denier, scientists continue to disagree about the degree and extent of global warming and its connections to the act of mankind. i know you had your reservations about him first. you met with him four times, what changed your mind on him. >> i've spoken to him a number of times. i feel very strongly on the business side here, in other words, i like to know what i know. i think i've made a lot of money and a lot of success by being -- almost obsessively concentrating on the areas that i really feel i understand. until you make it into simplicity in choosing something, and the thing that i see with the epa is they've done a horrible job in making perception of -- in making the perception that the government is anti-business. and they've done a lot of harm to businesses. in fact, at this point there are a number of refineries on the verge of bankruptcy because of the epa's capricious actions. the epa has gone in and does does something the government i

built for business. >>> carl icahn is going to be joining us.lly not a call in show, but if he wants to send in smoke signals, we'll do it. just the fact we are based in new jersey. you do it well in atlantic city. pretty well, everything else seems to be struggling. >> what is the stake of american gaming? can atlantic city be saved? does it need saving? >> i've said this before on shows. there is not a gaming revenue problem in atlantic city. it is the third largest gaming market in the united states. $2.6 billion. and there's only eight of us left. so, all of us that are left are doing extremely well. the union wages and every fee and commission you pay to everybody. when i sat and tried to figure out what was wrong, that and just clagaming in atlantic city said let me give you an example. oi do more gaming revenue in atlantic city than i do in las vegas. >> you do? >> yes. >> more money in. that drops in every day. gaming revenue. the cost structure is 20% higher. my unit level is 1i%. there, it's 2%. >> now, a gentleman that needs no introi

icahn alone brings an estimated net worth of $16.5 billion. with us tonight to start off the conversation, nbc news correspondent kristen welker covering the president-elect in florida where earlier tonight she learned the truth behind the phrase "if you don't like the in florida, on the first night of winter for the rest of us in the northeast. and michael "mad dog" crowley whose piece on the trump foreign policy team we recommend on politico. thank you both for joining us tonight to start off our broadcast. press conference since he's been elected. he hasn't given a full press conference since july so while he answered a couple of questions it wasn't that rigorous back-and-forth that you typically get when you have a press conference but there was one more interesting nugget that came out of that back and forth. they asked him whether he saw the attacks abroad as an attack on christianity and he sort of walked that back as well and said this is an attack on all of humanity. >> michael, think about this. 74 seconds worth of access and here we

at this point, that would only apply to icahn. the measure still needs approval from governor chris christie. >>> lawmakers also gave their okay to legalize ride sharing services like uber and lyft. if approved by the governor, the law would allow the state attorney general to decide whether the criminal background checks currently used by the companies are sufficient. it also includes requirements for insurance. >>> montgomery county drivers may be in for a deture tomorrow. valley forge road between morris and hunter mill roads is going to be shut down while crews remove a bridge for the pennsylvania turnpike. the work runs from 9:00 p.m. until 6:00 a.m. tomorrow through thursday. >>> dozens of local teachers played santa today, but instead of delivering toys, they brought thousands of donated school supplies to teachers. and support professionals in the chester upland school district. the district continues to face budget shortfalls and many teachers are spending their own money to buy basic supplies. >>> crumbling concerns. a c

carl icahn has been very vocal about it. of weight. he is not theas only one that has concerns about the renewable fuel standard. in fact, there are others that have even deeper concerns or criticism, whereas he is asking for lobbying for what he considers a minor tweak to make the program run more smoothly for independent oil refiners, like the company he owns. -- thate others saying have even deeper concerns about the mandate. alix: mario parker, for bloomberg news. now it is time for other stories making headlines. here is taylor riggs. of the the president japanese advertising giant was resigning. he will quit, next month. forutives held responsible the death of a 24-year-old employee who killed herself on christmas day will be punished. she reportedly worked on hundred five hours of overtime over the course of a month. find ball come for a -- for my living in antitrust law. qualcomm says it will appeal. delta has canceled an order for 18 boeing 787's valued at $4 billion. it had inherited the order were to a go over for

in the early nineties icahn couple to trump's rescue. the corrupt nature of this arrangement cannot be understated. voters who wanted trump to drain the swamp just got another face full of mode. ben i assume you disagree. why? >> first this is not a paid position. it is an adviser wroel role. and if you look at how much we've been celebrating wall street going up and people making money and retirement accounts going up this is an individual who understands how overregulation truly affects wall street and affects feel and their retirement and their mutual funds and hire 401(k)s. >> keith. >> of course he doesn't have a problem because this is the inconsistency. all the things trump said about getting rid of the wall street elites and he brings in more wall street elites. not only the inconsistency of the conflict of interest but having carl icahn in a role where he can select the new sec chair, which will influence the regulation of his own companies. that is a blatant type conflict of interest. >> thank you very much. feel free to debate

icahn came to trump's failing business. today, trump made him the regulato regulatory czar. >>> the transition team is said to be talking about quickly imposing tariffs on foreign imports using executive action soon after mr. trump takes office. that is according to multiple sources. it is a prospect alarming business groups and public establishment. they fear he could ignite a trade war. sources differ on whether the talk on tariffs is serious or a trial balloon to gauge reaction. >> or the beginning of negotiations. >> he puts out every possibility. >>> and donald trump's adult sons removed from the charity that was poised to offer presidential access. they had been listed as directors of the opening day foundation. a conservation non-profit. tmz found a draft of the invite of a private reception with the president-elect trump and hunting trip with his sons with $500,000 or $1 million donation. since, they have put out a fund-raiser without any reference. >>> and former trump campaign manag manag manag manag manager lewan

. >> billionaire carl icahn could face a penalty for closing the trump taj mal had a casino. coming up in business. >> ♪ >> ♪ >> good morning, everybody. we're looking live on our city hall cameras looking festive, isn't it? as we take a live look there and you see the roads are dry. it's cold out there but dry. let's take a live look and see what's going on on the schuylkill expressway approaching spring garden. nothing happening. light volume. eastbound traffic just a few cars headed towards the vine. the action cam was on the scene of an issue in lower merion. take a look at this. this is sprogg road at hollow road. they're doing suer repairs and sprague road is shut down in lower merion so expect delays through the morning commute. you can see they've got the big road closed sign in lower merion causing a problem there on sprague road. the bridge opening and the burlington bristol bridge still expected to happen so stick to the betsy ross bridge instead of the burlington bristol as you're headed out. just some construction on the turnpike. this is westbound between downin

stuart: the president has tapped billionaire investor carl icahn.like dodd-frank. >> every white house needs someone in the west wing who wakes up every day worried about the regulatory state. the agencies exist to regulate. you have to keep an eye on it. no matter how dedicated the white house is to deregulation. someone has to make sure the execution takes place. it won't be just dodd-frank. it will be across the board. there is a lot of underbrush that needs to be cleared out. >> do you feel incoming administration can do it? you and i have known countless presidents who say we are going to cut that red tape and make government really work for the people, and it never happens. is this really a different time? >> so there are three things that you can do. the first is executive orders, and presidents do that. the second and hard were one is new rule making to replace or eliminate bad rules. that's where you need someone staying on top of the process because that takes years. and the third and interesting opportunity now is you can do legislative r