following jack lew's crackdown on inversion deals.down to the open with a top 10 trades -- the only stories -- count you down to the open with a top 10 trades, the only storage need to know. number 10, carmax reporting an 11% increase in quarterly revenue. earnings, however, missed analyst estimates. shares are falling on the premarket. >> number nine, dick's sporting goods. cited entry competition from amazon and shares are falling sharply. it has been a rough year, off 20% so far. >> cf industries confirming they are in a limited discussions regarding a potential merger, paring the world's biggest fertilizer supplier with sales. sales -- shares are rising on the report. >> number seven, phillips, splitting up its business in two separate units. the companies will continue to use the philips brand. six, a seen a retail targetinga retail, marketing issues, and forecast full-year profits that trailed analysts estimates. my nieces used to love justice. now they are little older. >> number five is herbalife. shares are continued to climb

dow futures down, looking up gold up a big $16. >> treasury secretary jack lew -- >> i call him jacobplan down on tax inversions. cook, our chief washington correspondent, following the story and joins us now from washington with the very latest. what is the blowback from congress? can treasury unilaterally -- >> it depends who you are talking to, scarlet. give it a whole long list of democrats praising jack lew for taking this action, giving the gridlock in congress inability for a bipartisan to deal with the inversion issue, and you have republicans on the other side not necessarily criticizing jack lew for taking this action here, but criticizing him for not pushing further for corporate tax reform, which they say is the real solution to the problem of these committees moving overseas just ugly for the tax benefits. a safe without dealing with the larger picture, you have not really solved this problem, and they are trying to put pressure on the administration to do that when they come back. >> peter, the station is to treat it as a tax transaction versus a business transaction. wi

jack lew warned he would do it.al's were announced to make corporate tax and inversion deals less appealing to companies. smaller foreign firms located in a country with corporate tax interest rate. all may now be rethinking their deals. former ceo of one of the companies with an inversion deal still pending. now he is a management professor at harvard business school and with the -- was -- with us this morning. what do you think of the news? >> i saw it coming. obama made it clear he would do something like this and he has carried through on it now. it will have some impact. a lot is in the details and no one is seeing that there is a 44 page statement and i have not seen it or talk 21. but i think you'll have some impact. the deal in particular was done to make very good sense financially. they will have to think through how it can best finance this based on new rules. but there are a lot of problems with this. goingof all, it is like to the doctor and finally you have skin cancer, so the doctor puts an ice patch

jack lew is opening comments to participants.s from blackrock, kkr, other institutional investors committed to investing in the space. his messages, listen, if we don't invest in infrastructure, it will do harm to the u.s. economy and the government can't and shouldn't do it alone. >> unless we reverse this trend, the consequences of failing to provide and maintain our infrastructure will be severe. the price will be paid if your jobs created and some lost. a rising prices for goods and services that will cut into worker paychecks. times, higher greenhouse gas emissions, and a lower quality-of-life, from traffic jams, airport delays, water main breaks, and potholes. >> the reality here is, the reason they are looking into the private sector in part is, the government cannot get its act together with a stalemate the summer. they're looking to the private sector to step up. there is plenty of opportunity. as 2% of highway funding projects in the last six years had public-private partnerships behind them. there is a lot of room here

secretary treasury jack lew says this is a top priority. he also spoke about philosophical differences between the u.s. and some of its partners in europe. but that's an understatement, isn't it? >> yeah, that was one thing that he made perfectly clear here at the g20. that europe really needs to get any internal squabbles amongst countries sorted out and focused on the growth agenda going forward. those comments made here at the g20 finance ministers and central bank governors meeting which wrapped up yesterday afternoon. with the latest in the communicate saying they are close to 2% growth over the next four or so years, out to 2018 above current expectations, the australian treasurer joy hawke chairing the meeting, saying they are 90% of the way there. and they are saying about 1.8% on top of current growth levels is what would be achieved with the 900 policies with the nations putting on the table that were enacted. but the u.s. secretary of treasury jack lew says the countries need to do more. i idea him at the press conference just wh

that is why jack lew is the more important player. >> he walked through a tight rope here. he wants to put forth a fix but doesn't want to take the heat off congress to pass something more comprehensive. >> he would much rather have this off his plate and there is agreement among democrats and republicans that inversions are not good and the ultimate solution is a reform of the entire corporate tax code. that is a long way off so the pressure will be on jack lew to come up with something to deal with these kinds of transactions in the short term. the question is how far do they go, how painful it will be, and how far back they will go. >> a bit of a difference there. thank you so much. turn to the economy. august payrolls were certainly a disappointment but did they ?hange michael mckee says it would be a mistake to actually that that way. move thet enough to needle on any final fed policies. >> 142,000 jobs. the fed won't raise rates until the end of next year? no. first, growth. we need growth to get jobs and we are getting it after the awful first quarter. second quarter

but the fact that warren buffett is involved is going to make it that much more harder for jack lew andt obama to do that. >> thank you so much for the weighing in. >>> come up, our fox news focus groups deliver a verdict on media credibility and it isn't pretty. >>> and later, we'll call foul on espn's reporting on the showering habits of the nfl's first openly gay draft pick. people. what about excess? i think about the coverage of ferguson as the latest example. it seems to me that cable tv in part turns it into a nightly reality show and may have exacerbated racial tensions there. and i don't think that that helps the media's reputation, either. >> absolutely, howie. it's supersonic social media. david brought it up before. that -- and i've used this analogy before, it's like a blitzing linebacker, releasing the ball too soon because they're afried they're going to get beat to the punch. they put out audio that wasn't authenticated. 36 hours later, they put their own experts on who basically called it cnn getting punked, a host. they should have at least checked with the fbi first,

jack lew said that he did not think treasury had any tools in the toolbox to deal with these issues.hat they are doing is hop scotching. it limits firms. it makes it less economically attractive going forward. they are tightening the rules on what constitutes ownership stake and equity ownership stake in the company. it makes it more difficult for foreign companies to meet ownership thresholds required by the u.s. government for tax purposes. they are tightening the tax rules for subsidiaries for taxation purposes. they are tightening up these rules to make it less attractive. what is important to note is that, in his comments associated with this, jack lew said that these first targeted steps make constraining this and meaningfully reduce the economic benefits of inversions. possible, stopping them altogether. he goes on to say that this is a first step and the treasury department is prepared to go further, if necessary, to deal with the wave of inversions. short of congress acting on its own, which is what the administration would have .referred, that did not happen there are a lot

jack lew warning congress you do it or the white house will. representative chris van hollen is charge saying they should launch a buy america campaign now thatburg enking's acquisition will make it a canadian company and he'll join us next. >>> also later, our own robert frank says that the nation's widening wealth gap can be explained in one word. that would be stocks. he lays out that case later on "the closing bell." i make a lot of purchases for my business. and i get a lot in return with ink plus from chase. like 50,000 bonus points when i spent $5,000 in the first 3 months after i opened my account. and i earn 5 times the rewards on internet, phone services and at office supply stores. with ink plus i can choose how to redeem my points. travel, gift cards, even cash back. and my rewards points won't expire. so you can make owning a business even more rewarding. ink from chase. so you can. e financial noise financial noise financial noise financial noise >>> welcome back. treasury secretary urging congress to pass legislation. aym aym aym

. ♪ coming up, next on c-span treasury secretary jack lew talking about the economic effects of climatehange followed by president obama's recent visit to the u.n. where he addressed the general assembly and led a security council meeting on foreign terrorist fighters. good afternoon. on behalf of the hamilton project thank you for joining us this afternoon for a public discussion of the economic costs of climate change. it is our privilege today to host u.s. treasury secretary jacob lew who will give remarks on climate change and followed by a round-table discussion between secretary lew and former treasury robert l suching bin and professor of economics at chicago michael green stone, before i turn it over to secretary ruben i would like to give a brief introduction to the project, and this is at the brook ings institution is named after alexander hamilton the first secretary who laid the foundation for the modern american economy so it's fitting we welcome two u.s. treasury second secretaries. this is to prevent evidence-based policies to work to secure economic growth, shared prospe

what would be the big move the jack lew could make? the headline would be jack lew takes the juice out of tax inversions. right now, u.s. corporations that invert sidestep a lot of taxes. it becomes economically attractive for them to flee our country. there are pending legislative proposals to remove those incentives, but many believe that secretary lew can take steps on his own which would remove some of the tax incentives for u.s. companies to leave. >> that's what i mean. would it is essentially being banning all of these inversion deals from this date on, period? >> the secretary cannot ban inversions. what the secretary can do is prevent interested actions on loans by a foreign parent to a u.s. corporation. invertsu.s. corporation , it often leverages up with a lot of debt from its parents, it's foreign parents, taking lots of interest deductions and reducing and eliminating its u.s. tax. secretary lew could try to limit or prevent those interested actions. know i agree that everybody thinks inversions are bad. there are many ceo

jack lew dressed additional sanctions against russia. take are prepared to additional action. military being engagedops and recognizes ukrainian sovereignty, we will be delighted to roll back sanctions. >> president obama outlined his strategy tonight. for expanding airstrikes for the u.s. to attack the extremists inside syria. today.es it for be sure to tune in to bloomberg for special coverage of the president's is a dress at 9:00 p.m. eastern time. wall-to-wall coverage throughout the address. tomorrow, we will be joined by and gross on his total fund how it will take a beating. i will be joined for an exclusive interview. head of the american action form sounds off on findings over the weekend, that foreign governments are funding some of the most prominent washington think tanks. fishy goingething on there? that is all tomorrow at 8:00 a.m. eastern time. ♪ >> bloomberg television is on the markets. let's take a look at what is going on with stocks right now. we do not have a lot of change in what is going on with shares today. a little bit of a decline in theks today, in

in that context, let me invite to the podium secretary jack lew. and michael greenstone. [applause] i guess night -- i guess not. i'm going to on invite michael -- uninvite michael. i will only invite jack. i will say one thing. when jack was in the clinton administration, he was a pleasure to deal with. he is immensely substantive, and very sensitive to the politics of the issues he deals with p review knows washington, and he also knows how to work with all of us numbers as we dealt with our issues. with that i introduced east distinguished secretary of the treasury, jack lew. [applause] >> thank you bob for that introduction and for your strong leadership. and thank you to the hamilton project and brookings for hosting this event. this is an issue of great significance to our economy and to our nations future. i want to talk today about the economic applications of a changing climate and i would like to say a few words about the u.s. economy. the u.s. economy emerged from the financial crisis that triggered a devastating recession pushing us to the second great depressi

and today, jack lew is making a keynote speech on it.details, we have this from new york. >> reporter: burger king made headlines when it said it was shifting its headquarters across the border. all part of its deal to buy canadian coffee shop business tim horton's. so why all the fuss? burger king's move is part of a tax strategy known as an inversion. that's when a u.s. firm buys a foreign company and relocates its headquarters abroad to lower its tax bill. one incentive is that america's corporate tax rate is 35%, the highest in the industrialized world. tax inversions aren't new, but they're back in the spotlight. >> the multi-nationals are leading the charge on this. >> financial consultant benjamin alderson said it's not just big companies trying to take advantage of this loophole. >> i increasingly get asked by a number of clients what can we do and what would you recommend we do, and i think it's very much something that's very much in demand right now. >> reporter: but the most powerful man in america isn't a fan. even calling t

he picked jack lew as treasury secretary because he would carry his water better than anybody else. this isn't necessarily about paper. but i do know this, preet has been competing for this for years. one negative with him is that he and holder don't get along, i don't know how much say holder is going to have with his replacement. they actually hate each other. neil: as it's effect on race relations, whoever comes after him, you can't be nearly as fiery, nearly as controversial, nearly as divisive. what do you say? >> i don't know if it will be in position to him. if it is kamala harris or someone else who is a black person. to charlie's point, not only is he confrontational with the big banks but the ideology that driving him has operation chokepoint where they went after small gun shops or the gibson guitar thing. we remember the speech, we're a nation of cowards, the way we deal with race relations in this country. the idea that we've gotten to where we want to get as a nation in terms of race, everyone grease we've got a ways to go but should have been in a celebratory mood, we

. >>> coming up tonight on c-span 3, treasury secretary jack lew talking about corporate taxes and u.s business investment. and then a look at how the u.s. military's rules of engagement are affecting soldiers on the battlefield. and then ralph nader and grover nordquist discuss asks the state of bipartisanship in government. >>> treasury secretary jack lew spoke about actions his department could take to bolster corporate tax accountability and make the u.s. a more attractive place to invest. he weighs speaking at the tax policy center in washington, d.c. his remarks are followed by tax law experts discussing the issue of corporate inversions, which is when a company tries to ease its tax burden by rye incorporating its affairs from one country to another. this is just under two hours. >>> there's some standing room in the front there on the left, if there are people feeling a hill crowded back there. you can come on over here. yes. okay. good morning, everyone. i am sarah rosen moretell. and i have the opportunity for welcoming everyone here, including those of you standing in the ba

the obama administration, jack lew treasury secretary announcing new rules to make it more difficult for u.s. companies to cut tax deals striking these deals in terms of merging with a company domiciled overseas. some get access to their offshore cash without paying u.s. tax on it. >> we have looked at the tax code. there are a lot of obscure provisions in the tax code. we do not believe we have the authority to address this inversion question through administrative action if we did, we would be doing more. >> a lot has changed since then. let me just say at the outset. it's very complex. in speaking to as many people as i could this morning and late last night, these actions are harsher and more severe than might have been anticipated, though frankly, many of the companies that have yet to invert may be in deals. we are talking about the two biggies. we haven't heard from them yes. everybody is trying to work through this and understand it. medtronic deal, just to give you some sense what we are talking about and why it is important. bernstein, if medtronic were not able to use its

secretary jack lew says it will close loopholes in the u.s. tax code. next up on our republican slime, bob in miami, florida. line, bob in miami, florida. caller: he is done the wrong thing and did it too late. the united states policy, interfering in other nations and -- in iraq and libya. libya is a complete failed state because we stuck our nose where it didn't along. we supported and anti-assad group that created a vacuum and allow them to grow. a year ago they warned the president of support of these rebels, the money flew in from qatar and saudi arabia and we didn't do nothing. now all of a sudden it is a threat. we have to do something about it. if we were not involved in nationbuilding, and interfering in other countries internal problems, we wouldn't be facing isis. is libya better today than it was under gaddafi? on top of israel with a completely radicalized country and a failed state. sending 5 still million american dollars to train rebels. i think it is wrong. the problem is just a stall step in less you get countries such as the u.n. jazz

>> the latest is the administration and jack lew made it uneconomical to do these deals. u.s. companies that have stockpiles of cash from overseas earnings haven't been bringing that money home. they move headquarters overseas and keep it away from tax authorities. $178 billion worth of deals since the start of 2013 including the burger king deal. so what the administration is trying to do is get that money back home and keep it home as well. elsewhere in terms of the markets, it wasn't necessarily down to military action in the middle east. it was more about a weak housing data, existing home sales in the united states. it was about chinese factory data. and it was about concerns that the latest move, the man in charge of the european central bank hasn't managed to galvanize the european company. so a whole variety of factors affecting the last 24 hours. >> apple seems to be riding high, breaking record sales with their iphone 6 sales. >> the first weekend sales were $10 million. that's right in the middle of units expected by analysts. some analysts now are say iing the end

jack lew wants people to think twice before considering the invegs versions and remove the incentives. >>> money magazine looked at 800 cities with populations between 50 and 300,000. kirkland, washington, suburb of seattle. castle rock, caramel, indiana, and maple grove, minnesota. but tops, mckinny, texas, north of dallas. it has a good school system and a thriving art scene. no word on night life. >>> budweiser is pulling on our heart strings to keep us from drinking and driving. it shows a labrador puppy and a boy growing up together. we're not going to tell you how it ends, you have to watch it to find out. thousands have. the ad has been on youtube a few days, already going viral. >> the emotional bond right there. hopefully it will -- >> for a good cause. >> make a good impact as well. >> yeah. >>> when we come back here, a surprising new allegation against miss america. it stems from her days on campus. >>> and baseball may be in for a big change amid attempts to speed it up. ♪ [ female announcer ] your favorite coffee-mate seasonal flavors are back. ♪ fa la la la, fa la la la

maybe jack lew had a different idea. only tax reforms can solve the problems in our tax code that lead to inversions. i know what you are thinking about. you are wondering if i made a terrible mistake because i have been talking about how president obama said it was unpatriotic and how he said they ought to fix it and they have a duty and ought to fix it and they ought to stay. no. these are the very same men saying something entirely different, because they know not on the campaign trail but in mysterious rooms where they are talking about policy, only way to take america into the next century and make us the most competitive nation on the planet and get those jobs in america is fundamental tax code reform. burger king can't do fundamental tax reform. tim hortons can't do it. warren buffet can't do it, only this congress can. we can and we should, in fact, our ways and means chairman, has tried. let me go on and get the other side of the issue. i quoted folks from the white house. house speaker john boehner said this, i

jack lew ruled out systematically doing a big bond offering.> despite encouragement to do that through the years -- >> i like jack lew. >> you've been trying to get those guys do a long-term bond issue. i'm with you, lock it in, man. >> how many people don't want 50-year bond. >> how many corporate treasurers and cfos said i can get 30-year money like this after tax? it's like equity. >> a negative article about buy-backs i read and i have to tell you, it's very difficult to not justify buying back if the government's give you free money. i like the drug companies here. the drug companies are taking action to be able to buy small biotechs or buy back stock. notice, abbott upgraded this is stealth upgrade today. why? abbott is a company that's quietly going higher. i like the stock very much. goldman goes neutral to buy, glaxo, another stock that's quietly going up. glaxo is good today. people should get in on glaxo, it's got a very good yield. hmos, a lot of big downgrades there. just to show how interesting it's become, activists downgrade --

what did you make of what jack lew just said?hat we need to keep the companies at home and we need to change the law to make sure they do. >> we should change the law to attract more companies to the united states. they have the most arcane corporate tax scheme in the world. it has the highest tax rates in the world for corporations. it has territorial tax systems. pay taxes ine to the united states for money they earn in germany. the idea that companies would act in a way to maximize their taxes paid is ridiculous. thes are crossed corporation, just like any other costs. corporations manage their field so they pay the minimum amount of taxes. about this whole idea. you are running these companies, but it rubs people the wrong way. it is unpatriotic. you should stay within your own country, support your own employees, support your country if you can afford to do it. is not a question of what to afford. it is a question of what maximizes the company's business. if i am in new york and paste a pet -- estate taxes in new york corpor

treasury secretary jack lew will about the economic effects of climate change. 4:00 p.m.ppening at today or did you can watch it live on c-span. -- timo to tamara on the on the republican line. the atomic bombs we exploded and the bombs to the chinese exploded, nobody is blaming that for climate change. i would think that would change the climate more than my exact pipe. there should be a lot of japanese that were crated in 1945. host: we will go to scott in new york. good morning. caller: good morning. i belong to the human party. i am 52 years old. , there was a one car family back then. now you have two or three cars. everyone says climate change, we have no answers. us a plant that we can grow and we can harvest the seeds and make fuel from the seed. motor wasirst diesel made by john diesel who made hemp fuel. we could do a multi-trillion dollar economy that could go to hemp fuel. the farmers could make money. we could refine it and ship it. everybody needs a diesel motor so we will have to open factories and start making diesel motors. big of aare asking how priority climate change

what will we hear from jack lew if anything before tomorrow?> the expectation is that congress will not have the time or inclination to take on the issue of inversions right now before the midterm elections. it just will not happen. we have gotten the message already from senate republicans. there is a possibility in a lame-duck congress. -- jack lew told us he leaves for australia in the near future. you might have to do something before he leaves. >> congressman, you get the last word. >> are we going to do something about inversions? can we do -- can we put a band-aid on it? of course. ist we really need to do comprehensive tax reform, which include making for a more competitive tasco. that means not having the highest statutory rape in the world and not having the complexity. >> you believe we will get to that? >> that is a separate question. it will not happen before the election. >> absolutely not. it may not happen within the next few weeks at all, the possibility of getting some decision out of the treasury secretary. much, congressman

at 4:00 today treasury set terry jack lew -- it's treasury secretary jack lew talks about climate change. shortly after that cbs news chief washington correspondent bob schieffer moderates a discussion on combating isis and other terrorist groups. now what are in those 38 pages. host: let's try the philadelphia her latest book on private military and security companies. our campaign 2014 coverage continues at 7:40 eastern with live coverage of tonight's pencil gate -- tonight's pennsylvania governors debate. here is a look at that race. >> let's try the philadelphia debate. mr. fitzgerald, good morning. >> good morning, pedro, how are you? looks good. could you not only set up this debate but where the two candidates stand as far as this race is concerned? first debate tomorrow finds the incumbent, a really need to have something happen to reset this race. he has been the underdog almost from the beginning, which has been a huge surprise in a state that historically has reelected its incumbent governors overwhelmingly. it has been a staple race. wolfe is up by 17 percentage points. there

in that context, let me invite to the podium, secretary of the treasury, jack lew and michael greenstone. that is you, michael. and michael greenstone. no, i guess not. [applause] ok. here. i'm going to unincite michael nd i will invite jack. practices will not go into his resume. i will say just one thing. when jack was with the clinton administration, he was a pleasure to deal with. he is very sensitive to the politics to issues that he deals with. we knows washington and knew how the work with all of us cabinet members as we dealt with our issues. it is very seldom that a fellow cabinet member will say something nice about someone from o.m.b. i introduce the distinguished secretary of the treasury, jack lew. [applause] >> thanks bob for that introduction and for your strong leadership. thank you to the hamilton project and brookings for hosting this event. this is of great significance to our nation's economy and future. i want to talk about the economic implication s of the changing climate. before i begin i want to say a few words about the u.s. economy. the u.s. emerged from a fina

treasury secretary jack lew slammed the practice saying it may be legal but it's wrong and that u.s. laws must be changed. >> by effectively renouncing their citizenship but remaining here these companies are eroding america's corporate tax base. that means that all other taxpayers including small businesses and hardworking americans will have to shoulder more of the responsibility of maintaining core public functions that everybody depend on. we're talking about national defense, education, medical research, courts and infrastructure such as roads, bridges and airports. >> lew says the obama administration will decide soon what actions it can take to make inversions less profitable for american firms. >>> for most americans summer vacations end a week ago and the kids are already back in school, but washington isn't like anywhere else. and today the kids, members of the house and senate, returned to the nation's capital after a five-week summer recess. and lawmakers have a lot on their plate. but will anything get done? john harwood joins us now from washington. john, what does cong

jack lew takes on tax inversions. policies aimed on keeping tax revenues at home. back in two. ♪ >> welcome back to "on the move." we're going to talk about a big scene in today's trades. the obama administration announced new regulations last night to make it more difficult for u.s. companies to move their headquarters overseas. our international correspondent hans nichols as the details. you've heard them barking for a while, are these finally the rules that make a difference? >> no, these are temporary measures that are meant to be put in place until there can be a comprehensive solution that congress buys in on. they're mostly retroactive with -- excuse me they are not retroactive. they do not apply to deals that have closed as of september 22. there could be what the white house and treasury says an additional 30 deals that could affect. the main provision is that it presents -- prevents hopscotch loans. this is when the parent company loans at a very low rate so it can acquire another company and redomicile. it is effecting share prices of astrazeneca. not it

jack lew is calling on congress to act against corporate tax and version. that is when a u.s.ny acquires a foreign company so i can pay lower taxes. he said the ban on the practice should be retroactive. >> i made clear in a number of occasions that we need to connect legislation that is retroactive today. the reason is if companies rush to get this deal through should it have a benefit -- they should not have a benefit from that rush to the finish line. >> he said and versions happening because the tax system is broken quest -- that is a look at the headlines. >> this is another logistics company. the price tag, 700 $50 million. thepurchase represents first foray into the u.s. market. here to tell us more and tell us about the international shipping market is our guest. how was that? tell people about the acquisition of jacobson. >> it is a $7 billion business. europe withder in strong french roots as you can hear from my accident. we have -- we are able to sell the u.s. market with a business and that is doing well. >> the purchase will was from oak hill partners. has the de

. ♪ >> fresh off of jack lew's actions to combat tax inversions, pfizer has actavis.d possibility ofax inversion. here to tell us about it is jeffrey mccracken and steven brozak. s and thesion pharmaceutical industry. explain how they might or might not work. >> it has been a fairly self-evident story. he went out there and you bought a smaller or midsized company and got the tax credit overseas so you did not have to pay the same tax rate. there's a big question of what will happen next. is this a deal for -- what does but esther do when you do not have lock buster? it is a game of armor cynical clue. >> let's play a little pharmaceutical clue. pfizer -- astrazeneca, that is the $14 billion that did not happen. >> that is the one that got rejected by astrazeneca. one of the lessons visor learned. they did not deter them from pursuing an inversion. what the treasury cannot with yesterday will steer pfizer off of this path but it didn't convince them or show them they will want to do a friendly deal. they will want to be invited or make sure the company they go after wants to be a wir

jack lew was discussing what actions they can take against companies that move overseas to cut tax billsic senator chuck schumer has introduced legislation of his own to take essentially punitive measures against companies who do this. chief washington course then that correspondent peter cook businessweek" reporter josh green join me. >> and doesn't have a real chance of passing congress, but is getting the attention of the corporate community because it would go so far in dealing with the inversion problem. democrats are upset about this issue. schumer would target in versions that he would target the deals going on like that to 1994 -- that'll all the way back to 1994. we are talking about deals like tyco international's move overseas. a long list of companies here that have taken this out. he is talking my going back 20 years. schumer's plan will be put out there. it is just a draft plan we have been able to take a look at, but it is a threat to the corporate community but no real threat in the short-term because there is no sense that republicans will back the plan. the bigger that

treasury secretary jack lew will speak at the urban institute about possible changes to the tax systemo make american companies more competitive. expect corporate inversions to be a central topic. on tuesday, apple will debut its highly anticipated new iphone along with its first ever american -- wearable device. according to people familiar with the plan, the new iphones will have 4.7 and 5.5-inch screens and include technology for making mobile payments. the wearable gadget is expected to attract health and fitness information. we close out the week with retail sales data. survey ofto a economists, americans likely picked up spending in august thanks to back-to-school shopping. positive data would mean good news for the labor market after last week's job numbers. we will have all of the weeks news for you right here on bloomberg. back to you. a busy week in the u.s., and a busy week here in asia. let's check in on key events in asia with my next guest joining us live from singapore, richard jeremy, the chief economist at bank of singapore. what start things off with happened on frida

this despite pleas from the president and treasury secretary jack lew that story just ahead.eded 30 new hires for our call center. i'm spending too much time hiring and not enough time in my kitchen. [ female announcer ] need to hire fast? go to ziprecruiter.com and post your job to over 30 of the web's leading job boards with a single click; then simply select the best candidates from one easy to review list. you put up one post and the next day you have all these candidates. makes my job a lot easier. [ female announcer ] over 100,000 businesses have already used zip recruiter and now you can use zip recruiter for free at a special site for tv viewers; go to ziprecruiter.com/offer2. >>> stocks showing signs of weakness, the indexes hovering around record highs, every time we have seen a hint of a pullback, plenty of investors stepped up to buy. dom chu is looking at where the strongest buying is coming each time and he joins us with interesting data. hoofrmter what we got. all day, telling you about the idea there have been pull backs and three so far this year but none by

talking about jack lew laying down his law on overseas mergers and companies do not like it.tories low. mario draghi ready to do whatever it takes. on wall street, fisher talked

treasury secretary jack lew will speak at the urban institute about possible changes to the tax systemmerican companies more competitive. expect corporate inversions to be a central topic. tuesday, apple will debut its highly anticipated new iphone, along with its first ever .earable device the new iphones will have a 4.7 m 5.5 inch screen and include technology for making mobile payments. is expected gadget to track health and fitness information. >> looking forward to all of that. thank you so much. stay with us. we have another check of the market movers on the other side of the break. ♪ >> get the latest headlines at the top of the hour on bloomberg radio and streaming on your tablet and on bloomberg.com. that is it for this edition of "bottom line." alix steel will be here on monday. have a great weekend, everybody. on the markets is next. coming up on 56 past the hour. that means bloomberg tv is on the markets. let's talk about where stocks are trading one hour before the end of the session. stock sold onto gains here. we saw a dip into the negative, but now the perception seems

he said -- -- here's a quote from jack lew. -- he said -- germany, they to need to spend more. >> thank. protesters defy putin. the biggest demonstrations in years. that will be right here on "the pulse." >> 45 minutes past the hour. russia's opposition, the biggest demonstration any years. protesters defy president colton with antiwar -- putin with antiwar marches. at the the him of the opposition, it got them in trouble in the past. new and familiar face. yes. that is exactly right. he was in prison in 2003 because he was financing opposition parties. in, after his release december, he initially said he will not be taking on a political role. here he is making a series of interviews over the weekend in which he said he will try to rally opposition to vladimir putin and he even said he did not rule out taking a leadership role if there was a crisis situation. an interesting moment in russia for this to happen. putin is vulnerable. the economy is heading into difficult territory because of sanctions. there's an opportunity. of this is a surprise is the question i will ask. given the fac

. -- i thought jack lew was stopping this. >> the u.s.ng to close the loopholes that make these deals attractive, but without congressional rules, there's only so much they can do. they said they would nibble around the edges of the benefits of immersion of great american companies, but the core benefits are largely untouched, so companies like pfizer are still trying to take advantage of moving offshore if they can. >> can this deal go through? >> there is a very obvious strategic fit. actavis is a company that a lot people have said would be a good second choice for pfizer after astrazeneca which did not work out for them. the logic is there. needed a willing seller, of course. we are not aware if that is the case. as a buyer, it is not outlandish to suggest they would become a target. >> we saw some big moves in the equity markets over a particular company either part of a deal for an inversion or a prospective takeover target. are those deals under threat now, seriously? >> i don't think they are seriously under threat, but people are

it was a little but failed, but jack lew gave this statement.e efforts to boost demand are deferred for too long, there is a risk that headwinds get stronger. that is his way of saying to the germans come of the clock is ticking, you need to do something. yes, he is talking about the entire european union, but in some ways, the rest of the european union's hands are tied to the germans. it is a clear message to the germans, loosen up a bit. [laughter] >> i think that is probably a decent message. interesting how it is being delivered. hans nichols, thank you very much indeed. up next, a bloomberg exclusive. as tensions in eastern europe grow, we will be live with the head of the national bank of georgia. ♪ >> welcome back. you are watching "the pulse." we are live from london right here on bloomberg tv. let's go to the ukraine. aregovernment in kiev createand accusations to cease-fire negotiations. we sent ryan chilcote to the front lines. he reports from what is effectively a new frontline in ukraine. >> you could forgive the soldiers outside t

taxation according to the treasury secretary jack lew.e looking for the drugmaker in revised talks about a potential buyout according to people with knowledge on that deal. they talk for a few weeks after a higher price was demanded. now, it seems there back on. one of markets in 30 minutes. more "bottom line" is next. ♪ >> welcome back to the second half-hour of "bottom line" on bloomberg television. thank you for joining us. president obama just world leaders at the united made -- a lot -- united nations summit on climate change. our senior markets correspondent julie hyman is back with me. what does the global agreement entail? >> this is something global leaders have been working on for some time. meetings in caucus today have the eventual aim of coming to an agreement next year in a summit him parrot -- in paris. the goal is to limit the increase in global temperatures to less than two degree celsius instead of three degree levels. we would need to see a dramatic reduction in levels of emissions. to achieve that, we need different co

the u.s., most importantly, what we heard from jack lew, sberbank has added.had rosneft on the list before. some of the energy companies had already been sanctioned. it is a more unified and tighter approach. we will see what putin's reaction will be. >> is not to say the u.s. and eu are in sync or are there still discrepancies question mark >> the discrepancies have been minor. the only interesting thing has been the sequencing. sometimes the u.s. has gone first, sometimes the eu has gone first. it seems like when the eu goes first, the sanctions have a little bit more bite. the first round of sanctions, angela merkel wanted to announce them. you sought europe being fed up with putin. they have been pretty much in lockstep once they get to the point of actually announcing sanctions. yet from russia and what countermeasures it might take? this is what europe has been waiting for and perhaps russian markets as well, what will the response be from the kremlin. mr. lavrov says they will take a measured response. then is in dushanbe, capital of two g to stand. he