kevin cirilli, we just heard the u.s. president say it is going to be a long and hard discussion with turkey's president. he was speaking to reporters at the white house and said it was a great honor to host. it is coming at a strange time on the heels of this report that dis president die bulged -- ivulged highly classified information to russia. kevin: earlier i spoke with senate majority leader mitch mcconnell who argued that he hopes there be "a little less drama coming from the white house." i can tell you the republican members on capitol hill are growing increasingly frustrated about the fallout and the handling of the firing of former fbi director james comey, not just the washington post report which the white house is refuting, but raises questions about how this administration is handling classified information because this perfect storm of political controversy puts at abilitysident trump's to get -- to do things on his to do list. something controversial like the border adjustment tax -- take a listen to what

kevin cirilli joins us from washington. what is the need to know on this story? ouncing, suggesting that trump was reckless with national security intelligence. that said, there is a legal precedents, where the president of the united states can disclose national security intelligence. democrats and republicans all admitting he did not break the law. whether or not he was reckless with the information is unknown. launched a series of criticisms, bipartisan criticisms, about the notion and bandwidth of how in-depth this was. tom: is there any indication that the president understands how serious this is? kevin: he is getting warnings from capitol hill. i want to bring up a quote from senator bob corker, a prominent republican. he told reporters that the white house has to do something soon to bring itself under control and in order. it hasit has to happen. obviously, they are in a downward spiral right now, and they have to figure out a way to calm to grips -- to come to grips with all that is happening. francine: what i do not understand is the euro-dollar reactio

in the meantime, we also have kevin cirilli.he rouhani victory comes at a time when donald trump is visiting saudi arabia and the saudi's are going out of their way to welcome him. walk us through what you've seen on the ground in riyadh. presidentnt -->> >> trump is on a dealmaking spree worth billions of dollars. he is met with top ceos and leaders here in saudi arabia. here is what you secretary wilbur ross told me. rosss. secretary wilbur told me. >> i could not imagine a business day mortgage for the united states and for the thedom -- more good for united states and for the kingdom. >> the investigations in the united states could risk ever shadowing his international trip. he is facing a lot of allegations about his international ties to russia. tracey: we did see u.s. markets take a tumble off the back of some of the domestic headlines surrounding president trump. now that he is in saudi, what is going on on that front in terms of his domestic standing in the u.s.? >> back in the united states and there are intensifying

vonnie: that was senator elizabeth warren with kevin cirilli.till ahead, a bloomberg exclusive on a british shop. the u.s. ipo in this is bloomberg. ♪ vonnie: breaking news. vladimir putin has been commenting in a bs interview and saint president trump -- in a cbs interview -- and said president trump did not act -- thet had no effect he said comey firing had no impact on the u.s.-russian relations. -- we wereeking kevinng earlier to cirilli and nick wadhams earlier. >> jb just made a deal and i am not sure if they are ready to make another deal. there are buyers looking for brands like this. we are reported they have already received incoming kids as they try to figure out which way to go here. vonnie: it is not like it couldn't happen. we have seen different price point type of restaurants being followed by the same people, pioneer reported were we might actually see panera under the same roof as a cheaper option of fast food and that is doable. could there be some kind of change of jurisdiction here? andhey are looking to list the united stat

bloomberg's kevin cirilli sat down with senate majority leader mitch mcconnell and asked him for his. i read theell: washington post story and general mcmaster's response, which tends to refute the story -- rebut the story. i think we could do from a little less drama from the white house on a lot of things so that we can focus on our agenda, which is the regulations, tax reform, repealing and replacing obamacare. kevin: i want to talk about that . first and foremost, a lot of attention on who the president will select to replace former fbi director james comey. who would you recommend? rep. mcconnell: i recommended america garland. garland.k he was the prosecutor in the bombing case and i think would make it clear that president trump will continue the tradition of the fbi i having an apolitical professional. kevin: do you think you need democratic support in order to legitimize the nominee? rep. mcconnell: it would be good to have democratic support and if he picks someone with a deep background in law enforcement that has no history of political involvement, a genuine expert -- th

let's bring in kevin cirilli from capitol hill.f days ago, you were writing about how compressed it is, i would imagine yesterday made it even more compressed that's getting a new head of the fbi. how does that change the calendar on capitol hill? correct. this is just a log on the fire of a packed calendar. they already had a series of things up ahead that gave them little room for things like tax reform, infrastructure, they have to finish a health care bill. in less than 40 days they have in august recess. they have to extend flood insurance on the children's health insurance, they also have to raise the debt limit. but all of th together and now you have to add the confirmation of a successor of the director comey to the fbi. this is not going to be an easy thing for republicans to do no matter who the president ticks -- president picks. democrats have questions that have everything to do with the investigation, why the administration fired director comey when they did. what potential motivations were including jeff sessions, w

mitch mcconnell spoke exclusively with kevin cirilli about the reported disclosure. what the senate majority leader said about this report and the white house response to it? kevin: a white house is pushing back against this report but there's no question that republicans on capitol hill are speaking out against the report. it comes at a time when the senate majority leader mitch mcconnell would like to focus on publishing the legislative priorities that republicans campaigned upon. most notably health care and tax policy. about how this bevy of negative press coming out of the white house impacts his ability to do his job. sen. mcconnell: i think we could do with a little less drama from the white house. on a lot of things. so we can focus on our agenda. which is the regulation, tax reform -- deregulation, tax reform and repealing and replacing obamacare. kevin: i asked about the timeline for health care reform. he said it would be difficult to accomplish any type of cohesiveness. he put together a parking republican member working group but acquitted that to the bat

tom: kevin cirilli, thank you so much.the different theme and discussion and nothing stopped me in my tracks like a good essay by james frankel in the new yorker magazine. this quote from a name in the last-- this is john dean night. raisedg this, they have so many questions. how can you conclude anything but that trump knows he's got problems? every move they make keeps signaling "cover-up." he goes on to elude back to the moment in 1973. joining us now is eli lake, who has written terse columns on president trump. --'re feeling when you might you're feeling when you heard of it? eli: i couldn't believe it. i read that james comey was the most powerful person in washington. that is on the assumption that after announcing an ongoing investigation into the trump campaign and russia, it would be politically suicidal to fire the man who was effectively in charge of it. and yet, that is what just happened. and i do think it creates a political crisis. not a constitutional one. the president is within his rights to fire the fbi

kevin cirilli is in rome on this trip. so different about riyadh and israel, and now rome? what is the biggest shock on the trip as you moved to rome? kevin: the pope made a political statement. earlier today, the president exchanged gifts with pope francis. president trump, deciding to the literature written by martin luther king to pope francis, a highlight from when the pope at the joint session of congress back in washington dc a little more than one year ago. pope francis decided to give books to the president that included literature on family, as well as gospel teachings, and the environment. that is one of the policy differences between president trump and pope francis. the other two being capitalism and immigration. they sparred over that quite vividly on twitter. is nowrtion of the trip concluding, which has taken the president to the heart of the the-muslin world and jewish world with president netanyahu, and now to italy, where the president and the first lady received a private tour of the sistine chapel and s

kevin cirilli is in jerusalem.ng up, on the budget, it a good time to speak to grover norquist about the many challenges of $1.7 trillion. this is bloomberg. ♪ >> the trump administration wants to deregulate certain things and boast best think that regulations have been holding back growth. citizens inor all the country. not just jpmorgan. so i am optimistic there will be regulatory reform. it does make sense. the credit friends understand it makes sense to look at what was done and what can be done better and what could simplify the burden on businesses. francine: that was jamie dimon speaking with me at the saudi-u.s. reform in saudi arabia. we talked about regulation. presence in a big the region in the middle east, they are looking to beef up. he is optimistic on regulation and animal spirits of the u.s. being unlocked, but he was optimistic about the global economy as a whole. growing morean than it has grown in 15 years, his words. and he said, look at the imf, usually they are so gloomy but for once, they ha

revealed highly classified information to the russian foreign minister and ambassador area earlier kevin cirilli sat down with mcconnell, who weighed in on the story. sen. mcconnell: i read "the washington post" story and general mcmaster's response, which tends to rebut the story. i think we could do with a little less drama from the white house on a lot of things, so that we can focus on our agenda, which is the regulations, tax or form, repealing and replacing obamacare. kevin: i want to talk about that, but first and foremost a lot of attention right now on who the president will be electing to replace james comey. have you spoken to the president about this question mark sen. -- toell: i have -- have the president about this? have.cconnell: i i recommended merrick garland. i think it would make it clear that president trump would make it clear of continuing the tradition of having an apolitical professional. sen. mcconnell: do you think -- kevin: do you think that he needs democratic support to legitimize the nominee? sen. mcconnell: it would be good to have democratic support. if he picks

julia: joining us from the white house is kevin cirilli. -- ande up from our bc come up from our d.c. bureau, robert. he wanted less drama from this administration. no shortage of that it seems today. kevin: there's a tizzy of turmoil here at 6000 pennsylvania avenue. the drama and fallout continues to engulf this administration. clearly, h.r. mcmaster doubling down, standing behind what sean -- trying to showcase different avenues of the administration. journal mcmaster saying the administration did nothing wrong -- in general mcmaster saying the administration did nothing wrong. quite frankly, they are facing questions not just from democrats, but from republicans were increasingly concerned that this will hurt their chances of passing a conservative but a slave agenda. -- legislative agenda. pompeo: you've got mike who will be briefing members of the house intelligence committee later tonight. they reached out to the white house. this threatens to overshadow the other items on the white house's agenda. talk about how this will dominate the airwaves for the next couple of days. this

kevin cirilli and patrick donahoe.ith bloomberg as he prepares to meet with president trump with washington. what he hopes to a compass next. this is bloomberg. ♪ vonnie: live from new york, i am vonnie quinn. mark: in london, i am mark barton. this is bloomberg markets on bloomberg television. time for the business flash with some of the biggest business stories in the news right now. intel has escalated the battle fornst amd in the market personal computer processors. the company unveiled the powerful chip. they will sell chips under a new core i 9 brand. china investment corporation is the front runner to buy european logistics business logicore. logicore is owned by blackstone group. opened's commerzbank has up 3000 employees. the familiar with the matter say $34,000r includes a sweep to cut 9600 jobs over the next four years. mark: that is your latest bloomberg business flash. vonnie: time now for our bloomberg quick take where we get context and background on issues of interest. leaders are looking at choosing no

in brussels is kevin cirilli. resident's response to a furious prime minister may today? kevin: washington just waking up, but i have spoken directly with two political advisers to president trump's political orb and they both tell me they feel this only underscores the criticism of the intelligence community's leakage and how it undermines the president and national security. this all comes criticism of at n which several investigations as well as senate and house investigations into the president and the leaks surrounding it are ongoing. president trump set to meet at the nato summit and we are getting word he just concluded and is still in meetings with european union leadership. tom: another idea here which i know francine has touched upon is i find it absolutely amazing that president obama is meeting with chancellor merkel in berlin as president trump tries to act presidential in brussels. is the trump team shocked, removed, or do they not care that president obama is getting face time in berlin? kevin: publi

thank you, kevin cirilli. most in fiveg the months after reporting a surprising fall in iphone sales. it wasn't a massive crash. they were down about 1.7%. they are down .8 percent now. if the company is to fend off competitors it will need to develop blockbuster new features. our next guest says the ecosystem bodes well for the future. ubs i.t. hardware analyst joining us. very different approaches to this. one from gene munster this morning saying earnings were fine. apple services is doing well and we will see a great new cycle. said, that's not enough. it's not enough to have a new iteration of a product and is not enough for the services to ally.owing so anemic bewe think it's going to fairly successful. companies base is growing and the retention rates remain high. that will drive services revenue over time. buffett, youren have to recognize that apple is a major brand. people who have apple are likely to stick with it. we think at 15 times this year earning, 13 times next year it is still a very good va

kevin cirilli talked with u.s.or elizabeth warren about glass-steagall and she said she is to get going. senator warren: a.l. ready. -- i am ready. i have got the bill. remember, i have a bipartisan bill. my cosponsor is john mccain and cantwell from washington and angus king, an independent, from mena. let me put it in context in the book. book, talk about in the 1935 until today and in the time people, gdp keeps going up but 1935e first time period, to 1980, and expansion of america's middle class, working family, the working poor, upper-middle-class. investment. also, careful regulation to make sure the playing field and kevin: if there regulation goes way? senator warren: glass-steagall is part of that. checkingour grandma's account and bank account, that kind of banking should never be put at risk by high-stakes gambling the goals on a wall street. you write that then candidate donald trump that i covered extensively, added this to -- senator warren: absolutely. kevin: has there been any private conversations

kevin cirilli joins us now from washington, d.c. what did we learn that was new yesterday? the former active attorney general seated next to james clapper. what did senators here that they didn't before? kevin: it wasn't just sally aids, but former president barack obama and the whole administration. warning president trump at the time about the risk that general flynn posed. general flynn was someone who had accompanied candidate donald trump frequently across the country, traveling extensively with the president -- then canada trump. on trail instructions was as is someone who russia blackmail risk. days for him to resign, essentially. we also have to remember president trump, who was asked about this in office several weeks ago during press conferences, defendant general flynn. percolatentinues to and continues to evolve, the question is now, not just from democrats, but also from republicans, about the nature of the investigation and when the conclusion would yield some type of new, finalized results. david: are we hearing from the white house? sally eight saying she wa

kevin cirilli has been speaking with members of the house. what changed?ives including representative often and long, conservatives in the house of representatives who had concerns about the legislation regarding health care said they met with president trump and they emerged and said they would be able to support this deal. representative upton telling reporters he anticipates a vote could come as soon as tomorrow. think it is likely to pass in the house. we will see what happens. then it goes to the senate and there will be a conference. this bill will change from where it is today and likely from my percent of and others probably for the better. >> the ongoing battle continues with representative upton introducing an amendment late last evening that has garnered the support of prominent republicans including the house freedom caucus. this is all centered around the issue of pre-existing conditions and high risk pools. this amendment would allocate $8 billion over five years in order to help those with pre-existing conditions. -- chuckenator chuck's schu

scarlet: thank you so much to bloomberg's chief washington correspondent, kevin cirilli. kevin: thank you. scarlet: as he reassessed geopolitical alignments, what will the new world order look like? it is a broad question. let's ask carsten nickels. he joins us on the phone from brussels. my first question for you, simply, is the old world order, the transatlantic alliance, the mutual defense pledge of nato, at risk of dying in the next year? carsten nickels: definitely not from the european side. what we should see behind the macro statements of the last couple of days is really a signal from the european side and the eu are determined to hold onto that alliance. the question, of course, is what is happening in washington, and the problem from the european side his they are facing economicissues on the front, migration front, that require urgent answers. the question from the european side is when there will be greater clarity on the u.s. side because it is clearly it is clear your past and move ahead. it is clear europe is determined to go ahead with an operation among t

kevin cirilli joins us. national economic council director jerry kohn says that they are excited -- gary cohn saying that they are excited. kevin: that was a great interview with david westin and gary cohn. by lowering the tax rate, corporate-wise, they will be able to generate that corporate tax growth. they're hoping to seize momentum as a look to advance the health care legislature to the senate. all that said, i spoke earlier this morning with a senior aide quite frankly,t this will have to change significantly to attract moderates in the senate. the big issue right now is the pre-existing conditions. it would call for an $8 billion increase to the pre-existing cause over a five-year period, but my sources in the senate say that is a lowball estimate and not enough to win over moderates. it would have to be closer to $20 billion, vonnie. of the republican party -- if you look at the moderate states, especially folks up for reelection in 2018, they will have to be able to move towards the middle. this is

that was kevin cirilli.ow our bloomberg business flash , a look at the biggest business stories in the news right now. allagan investors double down on the ability to maintain growth. amazon's market value is twice the of walmart, despite largest retailer have sales three times as many as amazon this year. up 40% on the year ago. that makes jeff bezos the second wealthiest person alive. china investment court in the icorp.o acquire log investments is also in the race. that is your latest bloomberg business flash. still ahead, which banks are winning the big league. who is dominating the deals, coming up. this is bloomberg. ♪ vonnie: a hazy tuesday afternoon in midtown. it is time for zeroing in. the biggest players behind the deals. alex sherman joins us now. take an earlyo look at how m&a advisory firms are faring. this is how wall street competes. the following data comes from bloomberg. i figured it was a good time, the day after memorial day. goldman sachs and number one. not that much of a surprise. at

i want to bring in kevin cirilli , our chief washington correspondent. t to hear from her today? she had a short tenure as active attorney general -- acting attorney general. what will she be asked about today, kevin? kevin: according to my sources, this is going to largely be a partisan hearing. president trump tossed tweets he ising this hearing, clearly trying to set the stage and influence the questions that republicans will be asking her. that said, a member that she now finds herself set up in a heated argument not only amongst republicans and democrats, but also reverberating throughout washington. it also comes the same day, mind you, that president trump unveiled his pick for judges in the judicial system, pulling it further to the right than revia slant is updated. paul: remind us of the role that sally yates played relative to michael flynn. from what i gather, she advised the white house that he was, in fact, someone who wasn't -- under investigation -- who was under investigation? kevin: correct. republicans are going back on the claim and sa

kevin cirilli. our chief washington correspondent as well. american business spirit. robert nodelli is former chrysler chairman and c.e.o. but that barely describes his ability to run through large companies changing processes right now. how lean, the backdrop of this politics, what's the confidence level of a lean and mean's corporate america? robert: the confidence level started very strong. tom: and it's faded. we see that. robert: it's faded because there is increasing concern about the doability of getting the tax -- corporate taxes rolled back, etc., with all the distractions, tom, happening in washington. it's just unconscionable with what's going on there relative to the issues facing this country. tom: this came up over a beverage of my choice this week and i'll ask young nardelli this because he'll get it, out of respect for the president, is he a businessman or entrepreneur or a person that didn't like him in the conversation, is he a wheeler-dealer, he's not like a bob nardelli type, is he? robert: i'm probably a little more predi

vonnie: kevin cirilli and matt miller, thank you. let's get a check on the first word news. emma: the u.s. economy was not so bad in the first quarter after all. gdp was revised upward to an annual rate of 1.2%. consumer spending the better than expected, the biggest part of the u.s. economy. business investment was stronger than first thought. openedt, unknown gunmen fire on a bus filled with coptic christians headed to a monastery. at least 26 were killed and 20 others were wounded. witnesses said the attackers wore military uniforms and wore masks. the next up for the president trump travel ban will be the supreme court. the ruling said the executive order "drips with religious intolerance, animus, and discrimination." montana, the republican charge with assaulting a reporter has won a special election for the state's only seat in the house. greg gene forte took about 50% of the vote, compared to 44% of the democrat. democrats had hoped to capitalize on president trump's low approval ratings. global news 24 hours a day powered by more than 2600 journalists and analysts in

joining us now is kevin cirilli and matt miller based in berlin. know terrorism was a big because of the manchester attack. do we see a shift in focus at the g7 summit? matt: we did see it a shift in focus to terrorism. it was definitely at the four this morning. it looks at the summit was not going to a compost much at all. seemed to change throughout the day at least as far as the relationships. european leaders were more impressed with donald trump than i thought they would be. on amade some headway couple of topics that we thought would not get touched. migration being one of them. italy has the presidency of the g7 this year and they picked sicily because it's smack dab in the middle here of the mediterranean and the italian navy often pulls refugees out of these waters here behind me. it's a very important topic to them and actually have made a are preparinghey our crafting a statement for the communique on migration that the u.s. is reportedly on board with. on the other hand, you have gender the quality that i don't think -- generate qualit

for more,ning me kevin cirilli, over in jerusalem traveling with the president. is the bloomberg political reporter at the white house. kevin, at least the president clarified what he didn't talk to the russians about when it comes to israel. whoever asked that question? kevin: our very own margaret talev. you are right, he is avoiding the larger issue, why was he sharing highly classified thelligence information in first place? that was the question that our colleague had asked and that he dodged. look, the bottom line is that the israeli prime minister, benjamin netanyahu, present -- coming to the defense of president trump says that he believes that efforts to cooperate between the two nations as they share information, this is coming in the middle of president trump us second stop on his first international trip. he was in saudi arabia over the weekend where he announced, as billion arms $109 deal. i'm told that there are some cabinet level officials in the administration skeptical of that very same arms deal, despite the saudi's and israelis both opposing th

joining us is kevin cirilli, chief washington correspondent for bloomberg. and mr. armstrong. back on capitol hill, kevin hill, -- kevin, we have discussed the incredible tents times for the elements -- tense time for the administration. president trump tweeting. what are you hearing and how likely are we going to have the votes in the next 30 minutes to an hour? kevin: i spoke to representative blackburn and she think there will be a vote in the next half hour or so. what is known as statutory hall inside of the house of representatives, top political aides from the white house, reince priebus met with the republican house and they all just left the room and headed to the floor were we heard from house speaker paul ryan making an impassioned final plea of sorts to rally conservatives to advance this piece of legislation. i can say behind the scenes, privately, the white house led by president trump and mr. primus have been working with the vice president's office to muster enough votes. when we see the votes role again, the magic number is 22. the amount of votes that can affo

joining us in new york today is kevin cirilli.e not really focused on things like the china deal and legislation that is not getting done, the hca that is leveraging and some committee, and on the other hand, is not a good thing all. problematic. it takes any perception of little capital that this administration gained after passing health care through the house of representatives, which should have been an easy battle that was a very difficult one out of their control. i spoke with several republican senators all week both on the record and off the record and i can tell you that there is a frustration and a confusion and a sense of what exactly was the timing and the reasoning for the timing. i can be frank, the message coming out of the west wing and the message coming directly from president trump in that interview from nbc news are completely different, completely on two different pages. vonnie: is it ever republican for his or herself? or are there still groups like the freedom caucus? kevin: there was a group in the senate t

david: joining us now is chief washington correspondent kevin cirilli. at else did we learn from the acting director of the fbi? kevin: hearing just concluded. i can tell you that we heard in an exchange with senator marco rubio with the acting director, the republican from florida asking him if the firing of director comey had any impact on the ongoing investigation, to which he responded quote unquote, there has been no effort to impede our investigation to date. there is no question that the biggest point of difference between this administration and mr. mccade came at that statement he just made. when he says there has not been any kind of dissent among the rank-and-file members of the fbi with director comey. that is a big point of difference between the administration which has argued for several days that that was part of the reason that led to the firing by president trump. i can also tell you that nbc news interviewing president trump, the headlines crossing on the bloomberg as we speak, in which president trump says it was his decision alone to

let's get more insight into those comments from the president with kevin cirilli. at do we know about the president's thinking on this issue? how is it changed in light of the conversation he had with our colleagues today? kevin: this is an incredible interview from my colleagues, who just interviewed president trump inside the oval office. these headlines already having a market impact. look, this is what candidate donald trump said on the campaign trail that really roiled the more moderate wing of the republican party back during the campaign, because there are several folks, including those within the u.s. chamber of commerce wing of the republican party, who vehemently oppose the rhetoric surrounding the reintroduction of glass-steagall . but when you look at the geopolitical landscape, particularly here in the united states, both the grassroots ace of the republican and democratic arteries have both advocated for glass-steagall. . like elizabeth warren, bernie sanders. the way that the rhetoric that shifted in terms of implementing policy is night and day. when

and i'm kevin's really. cirilli. vonnie: a broader effort to reshape the trade relationship between the two largest in the world. later this hour, we will hear from former, -- the former commerce secretary. the president is escalating saying that their conversations might have been taped. kevin will be talking about the man at the center of it all, roger stone. donald trump is warning fbi director james comey against leaking to the news media today. he was suggesting that their conversations may have been taped. the president we did this hopeng "james comey better that there are no tapes of our conversation before he leaks to the press." might be replacing mr. comey. we have a few guests joining us. megan, are we expecting more tweets on the subject? megan: he is tweeted some stuff but let's start with the gravity of the tweets he has pointed out. everyday day, you expect some type of barrage, but you accused the former fbi director overtly threatening him saying that there conversations might have an tape. but compu

joining us is chief washington correspondent kevin cirilli. how did this come about?hey went into conference and 24 hours later emerged with a plan that looks likely to pass on wednesday. according to sources i'm talking with on capitol hill, that is the plan, at least from the white house perspective. i spoke with a senior republican elite in the leadership office who told me that right now there is no vote scheduled and they do not have the votes. that said, they are facing intense pressure from the white house to get this done despite vice president mike pence over the weekend saying they would anticipate that you passed health-care legislation sometime by the end of the year, but privately and behind the scenes, this is a white house, i think controlled congress, that wants to show -- republican-controlled congress, that wants to show the race that they're able to work together and fulfill essential campaign promise. capital not is a unfamiliar with stalemate over budget. how to the conciliatory tone over this agreement compared to the reverse situation with presi

tom: kevin cirilli, inky so much.w with senate -- interview with the senate majority leader. this is a great joy. a congressman from the university of kalamazoo. pete hoekstra's district, when he was the congressman of the michigan and western district, 56% for the president. secretary clinton. he is not only a republican but the former head of the house intelligence committee. joined this morning -- what is your president need to do? >> what the president needs to do is, number one, he needs to address the allegations that have been made to him. and what the people in america need to do is step back and let the facts come. i spent 10 years working on the intelligence committee and what you'll find is that 24-48 hours after breaking news, the story looks a whole lot different than it did when the story broke. we saw that with the information that came out from the washington post. that story started to unravel. let's see what starts to happen with the new york times story as the administration has time to respond to t

oliver: kevin cirilli, our chief washington correspondent in d.c.nie: courtney donohoe is here with margaret courtney: in washington, there stands a california law that bans licensed therapists from working with children to change their sexual orientation from gate is straight. the justice rejected and appealed us of the measure violates religious rights. today's decision leaves intact a federal appeals court ruling upholding california's 2012 first of its kind law. the measure prohibits a form of counseling known as uote, conversion therapy. in washington, house-senate negotiators have reached a budget deal the rejects most of president trump's wishlist for the 1.1 trillion dollars agreement would keep the government in operation through september. republican leaders vowed -- vowed to democratic demands to illuminate policy restrictions. the measure does not include money to start building a wall along the border with mexico. the trump administration is preparing to roll back some nutrition standards for federally subsidized school meals. at his fi

to explain, we have our chief washington correspondent kevin cirilli. ld love to be a fly on that wall for the meeting. i just spoke with representative mark meadows, and he told me that they do anticipate to pass health care today, and the consensus among republicans is they do have enough votes. i also spoke with a senior aide 12 nold me they anticipate o votes, more than enough for this passage to advance out of the house. there are still concerns among republicans that should this bill get out of the house, it which are medically change in the senate, and that is where all eyes will be. david: the senate is a whole different story. bigger ryan and president trump have their mojo back and they can move on to tax reform? kevin: it is all about momentum. you are right. should they have this policy in after a bruising battle politically, they would head into the recess and begin turning their attention to other items on their agenda. yesterday, wednesday to markup would repealat significant parts of dodd-frank. reform as well, and all of this gives them

meeting with donald trump trade we are expecting trade to be high on their agenda, joining us now is kevin cirilli not would have been a beneficiary of the u.s. had signed on with the tpp. the u.s. with from that under president trump. kevin: the at not being one of the main benefactors of trade especially with the tpp. it is not just trade negotiations that are going to take place with the meeting that is about to be underway. the prime minister just arriving here behind me to enter into the white house. not just trade though, of course they are going to be talking about environmental protection as the backdrop for all of this with the president's decision to will he or won't he removed himself from the paris accord. the reports earlier today suggest that he will just do that. nobody will be able to announce officially, just inside the white house at the briefing of sean spicer he said that when the president have the decision to announce he is going to announce it. as of yet there has been no official statement from the white house. there is a policy decision between the white house officials an

he is kevin cirilli. how do you spend it?budget deal closer september around the same time we're expected to the debt limit. i want to pull up what is in this budget. there is a $15 billion down payment on the military and also a $2 billion increase for health research. there's also $1.5 billion for border security. and much more bipartisan deal then perhaps folks anticipated. there isn't a money for a wall or ban on planned parenthood, not a cut back on obamacare subsidies. wasn't this deal always available? >> i think it is a political consolation that they wanted to .ot have a government shutdown there are a host of other priorities that are sure to set the stone -- tone including tax policy and health care. they are saying this is something they could have by the end of the year. david: we will check back with you later. injure overrtfolio portfolio manager over at pimco. what do you make at that -- of that? >> i think markets expected no shutdown. they are still looking forward to something different in terms of fiscal p

francine: our chief white house correspondent, kevin cirilli, is now at g7 in sicily. kevin, good morning to you. talk us through the last 24 hours. a lot of of focus on body language. kevin: absolutely. yesterday, the handshake between president trump and french president macron clearly dominating headlines and going viral on social media. here's the policy behind the politics. this is the best illustration so far of the skepticism, and quite frankly the questioning going on in europe about president trump, and you really see that illustrated by that handshake. yesterday, president trump speaking at a ceremonial event of sorts for 9/11 as well as the berlin wall, saying the nato allies must pay their fair share in order to counterterrorism, with the shadow of the horrific manchester attack clearly hanging over the president's first international trip, most notably with the back-and-forth between theresa may and president trump. i spoke with a senior white house official who told me they believe the leaks coming from the u.s. intelligence community to american media out

julia: let's go straight to jerusalem to kevin cirilli, our chief washington correspondent who has been traveling with the president. credible job so far tracking the president. you are only just beginning. give us a sense of what happened in the press conference. this was a president very much sticking to the script, minimal not to giveing hard journalists anymore a parent fodder to play with. apparent fodder to play with. kevin: julia, you are right. this is a very different president trump.what you noted in jerusalem , president -- the president making remarks, saying he made no mention of israel during the conversation he had privately with russian diplomats. while those conversations, which were revealing of highly classified intelligence, were legal given the president has the ability to do that, it landed him in political hot water from notches democrats but also republicans. that is why this has become such an important issue in israel. the president, choosing to go to saudi arabia, and then fly directly to israel, hoping to reset and correct course from some of the abrasive rhe

kevin cirilli is with us now. is on their overall package of progrowth reforms. kevin: the president just tweeted he will be altering his travel plans and going to bedminster to save the country money. progrowth, to having he is, of course, trying to save money that way, i guess. david: i'm sorry, isn't that where his golf course is? kevin: yes. his whole plan to pay for this centers around the idea that he will be able to achieve 3% at minimum economic growth. the best illustration of that will be a string of positive job numbers. this is somewhat positive but does not necessarily beat expectations the way they need to in order to convince republicans on capitol hill who have concerns about how to pay for this tax plan, they will need more. david: they need to get through the republicans. what has been the democratic response to health care and other reforms they are proposing? kevin: they already pull testing moderates behind the scenes heading into the midterms. you can be sure they will be making the soccer iss

we go to kevin cirilli. what was the level of celebration at the trump hotel bar last night? at the trump hotel last night. it is en route to the senate. we have a lot of concern about the fate of this piece of legislation, particularly on the issue of pre-existing conditions. increasing $8 billion over a five year time span, it is not enough for every moderate senator i spoke with yesterday, people like senator scott. the senate unmanned, adapt, and adjust this legislation, or will they completely rewrite it? kevin: they will completely rewrite it. house majorityd is larger than the senate majority and more conservative. in this senate, they are more moderate with a lot of senators up for reelection in 2018 up for reelection. a lot of parts of obamacare are still popular with moderates all around the country. tom: 20 get the score, and what will we see? we are still anticipating that. i put this question to representative blackburn moments before -- literally as she was on her way into the vote. she didn't think a budget scored matter because they had gotten it wrong in the

david: joining us now from sicily is kevin cirilli.er there. what should we expect to come out of these meetings by late tomorrow? some word from the white house press office on there will be no more public events, pool events for today, but we also got a readout of the presidents meeting with the japanese prime minister shinzo abe. they talked about north korea. i sat in on a briefing earlier today with the eu president who said president trump, in a meeting with him, agreed brexit was an isolated insulin and not part of an broader trend. he also went on to praise president trump, saying he valued his toughness, and that europe should be tough, even brutal. publicly, there has been some appeasement, but you are right, david, when you observe it, it is night and day tween the reception president trump got in the middle east versus the skepticism he is being greeted with here. it is hard to put into words because it is in the body language, conversations, and it also speaks that there are no public events scheduled for today. david: wha

kevin cirilli joins us now from jerusalem. let's talk about those deals. energy, andilitary, infrastructure deals done. how important are these for the president at this point? kevin: very important. coming on the heels of the administration raising questions about the potential collusion for russia. i asked secretary ross of whether or not these investigations would cloud over the trip, and he believed they would not. over $300 billion worth of new deals, as well as a $109 billion arms deal negotiated between the u.s. and saudi arabia. the folks i spoke with on the ground in riyadh from saudi arabia were impressed by the caliber of ceos in attendance. representatives and top executives from lockheed martin, boeing, blackrock, and the new york stock exchange. more than 50 ceos in attendance over the weekend, showing that clouds and investment -- clout and investment that is going to be made into saudi arabia. white house officials making the case that it will be good for workers back home by making that investment. president trump trying to turn the page fr

tom: kevin cirilli, thank you. topics on financial is a financial professor at columbia university. he has out a new book. it is a brilliant, short essay on reforming financial regulation. we will dive into that. back, we have not learned that much. have we learned that much? .> it depends on who "we" is the academic literature has learned a lot about financial regulation. over the last nine years, we have surgery are on the wrong track and what we have done is a flop. if you ask me on whether the average american has learned it, i think there is a disconnect. part of what i am trying to do with this book, and the recent it is short, is i'm trying to bridge the disconnect. tom: the basic idea is james dimon has a higher a gazillion people to do dodd-frank and compliance. what are all those people doing? charles: many are doing with compliance issues. a lot are doing a new function of financial regulation, which is law enforcement. the u.s. government had a great idea, instead of the u.s. paying for law-enforcement,

bloomberg white house correspondent kevin cirilli was traveling with the president. a glowing reception as resident -- president trump met with leaders of the kingdom during a very much celebratory dinner. i spoke with one saudi-based ceo at the forum yesterday that told me this is a president who campaigned with bruising rhetoric against the muslim community, but now they are hopeful will govern in a different way and they view a lot of and desist on -- emphasis on president trump's visit make it -- the first visit to saudi arabia. i also interviewed wilbur ross to get perspective about just how much of a historic day it was for president trump to be meeting with ceos and business leaders here in saudi arabia. take a listen to what he had to say to me. wilbur ross: someone is going to a conference the goals here. and all of these contracts. i cannot imagine another business that is good for the united states and the common -- kingdom. tevin coleman there has been a bevy of controversy back home. has that impacted the president's first trip? wilbur: absolutely not --

. >> that is kevin cirilli. i believe the magic number is 22. quick reminder you can catch all live events and interviews on the bloomberg and follow that vote if you wish. is tv go.on bloomberg markets the trump economy is next. this is bloomberg. >> we have breaking news this hour, this is bloomberg markets. the trump economy. congress as weon await a vote in the house of representatives on the american health care act. the chief is washington correspondent in statuary hall. shannon pettypiece. kevin, let me start with you. at the comings and goings on capitol hill. on the whipsye office. who has been going in and out? chief president trump's of staff reince previous heading into the majority whip office right behind where they are going over the vote counts. lawmakers inhat the house of representatives will look to advance this bill. 12 nore anticipating votes. it is well within the margin of what they are going to be able to do. the white house is hoping to have momentum. bi

kevin cirilli reporting from brussels. thank you. mark: let's go back to the markets. about 30 minutes left in the thursday session. we have been lower. small gains and losses throughout the week, about a percent below the 21 month high reached on may 10. as we talk of records in the united states, a big piece of data in the u.k. the economy slowing more sharply than initially estimated. shoppers flagging, trade dragging on growth. growth in services -- a big heart of the economy here, revised down. exports fell 1.6%. knocked off. consumer spending weaker and the slowdown could be they first the brexit is keeping economy accelerating. shorttraders that editions have fallen to a one-year low. the pound is falling against the dollar on the back of that report, but short positions have followed to a one year low. does that mean the currency wellhead much higher question mark some analysts say no sterling rally since theresa may called the snap election. anticipated losses in the currency falling to roughly 33,000 the week ending may 16, the lowest since the brexit vote la

is there any way the white house -- rand paul defended the timing earlier to kevin cirilli, to be fairis there any way the white house can defend the timing of this? marty: of course pay they are defending it as we speak. they said that they received the report from deputy attorney yesterday, and donald trump took that decision. the question really is since he cited the handling of the clinton emails as the reason behind it, that has not changed since inauguration day. so the questions democrats have is why now? trump people are basically saying we are following a process, due process, and when he got the recommendation, he acted on it. point a moment ago, we want to bring a quotes from our bloomberg view columnist who really wrote a fantastic op-ed about this, saying that the erosion of the independence of law enforcement is a blow to the on cause -- the unwritten constitutional norm of political neutrality. it does not violate the butration of powers violates the norm. -- marty: i do not think you can overstate the significance of what donald trump did in terms of what it means for t

bloomberg news, christine outside the hearing room in washington, d.c., washington correspondent kevin cirilli. kevin, there is an overshadowing going on, the deepening of political crisis potentially overshadowing this hearing. it is one thing for democrats, they are not too worried, but how will republicans question the secretary of treasury this morning? kevin: the hearing is being overshadowed by the controversy surrounding the fallout of the actions regarding the ongoing investigations, now with a special prosecutor, regarding the campaign's connections to russia. i have spoken to democratic sources to tell me that they could potentially raise this question with secretary mnuchin. he walked into the hearing room moments ago behind me, but republicans are caught now between a rock and a hard place because at the same time they had to walk this tightrope of whether or not to go against president trump or to measure and support the special prosecutor. vonnie: you are seeing the ranking member sharon brown giving opening statements. will they fear into territories into territories that are no