i look at him how many billions of dollars he spent on his hotels and casinos trying to keep labor unions out. >> reporter: today at trump tower the president-elect will be meeting with one potential secretary of state contender, former nato commander james stavridis and then he'll travel to columbus, ohio, to meet with victims and first responders

union membership rates. that data comes from the bureau of labor statistics. ion members are about evenly split between the private and public sector. andcan see the dark blue light blue bars showing you the number of private sector union members versus public sector union members. there are about 7.6 million in the private sectors and 4.4 1983.n fewer than in public-sector union membership is about 7.2 million. that is more than 1983. what is your message to president-elect donald trump? we are opening the phone is to union members only. we will start with sarah in california. sarah is not there unfortunately. we will move on to this story that was in politico. donald trump launches a war on unions. the story says that the war is on. labor leaders spent almost $100 million campaigning against donald trump, they said they would give him the chance to deliver on his pro-worker agenda after the election. the cease-fire has eroded. donald trump announced his choice for secretary of the department of labor as fast food executive andrew president, a whoic -- puzder,

nd i definitely hear a lot of concern in my field work about labor unions from folks. onestly sometimes it's people who were a part of a union or are, and proceed corruption, so sometimes people the union but more oftentimes, and especially among retirees who are part of union, i hear people talking about how grateful they were to union and ted by a how grateful they are to now be able to be in retirement and you know, a decent quality about labor ncern unions is something that's very widespread and labor unions are popular in public opinion polls. ut for people who have been represented by labor unions, they generally find a whole lot ableatitude that they were fighting on ne their behalf. >> a tweet from sandy beach. we get a lot of tweets from now we know this individual livers in wisconsin writing following. it wasn't only trump. wisconsin rural voters like me voted to defeat radical liberals in madison. outcomes.the state katherine kramer, can you elaborate. that's true. -- she may vernment be also referring to the 2010, outs, outstate wisconsin or rural wisconsin

and i'll point out the local labor union did not make any endorsement for the campaigns. e national union endorsed hillary clinton but the local union made no official endorsement. and chuck jones again is grateful to donald trump. he is amazed that donald trump was able to pull off saving 800 jobs. his particular point was at that announcement, the 1100 figure that was used was inaccurate and as a result there were several hundred members of his workforce who thought they would have jobs who don't. >> and it is interesting, jeff, because donald trump, i think it was a point paul already made but he's not responding to that particular factual -- to that fact or allegation. he's -- >> going after the credibility. >> he's angry at that. so he's poking at what a perceived weakness or whatever it may be. that is a little different than saying, well, actually no, mr. jones, here is what happened. it's no. you're lousy and you're partly responsible for these jobs leaving. >> well i just think that this whole thing is getting vastly overblown here. and again, donald trump is the

we're concerned, is not a good record for working families, and the department of labor should be standing up for not only unionrs but working families across the country. he does not support the increase of minimum wage, he did not support the overtime rule. his companies have had numerous labor law violations. he has actually made the statement that he would prefer having robots as employees because then they would never take sick leave and vacation time. that is not how you grow the american dream among working families. workers are suffering in this country. clearly, the economy has improved under president obama, but there is still a very large section of this country, especially in certain pockets across this country where people and communities are suffering. trump is theat, president-elect because people were so angry and so frustrated at what they consider to be "business as usual," and they wanted to make a statement, and they wanted to try something new. and they wanted to try something different because of that anger and that frustration. so to talk about not supporting the minimum wage or the overt

the employees were forced to under-report their working hours, which exceeded agreement with the labor union. labor authorities also searched dentsu's offices in osaka, nagoya and elsewhere. they'll continue their investigatation. dentsu made its first official apology. company representatives said they're taking the bureau's action seriously. >>> in south korea, more single people are breaking with tradition and living on their own. that's captured the attention of businesses, especially in the property sector. nhk world explains. >> reporter: compact and cozy. this show room in seoul offers a window on single living. with just 20 square meters of floor space. this apartment works hard to provovide all the comfortsts of home, including the laundry. the developer plans to build more dwellings like these in a singles town. 30% of south korean households belong to singles. double the figure 15 years ago. small apartments are driving the market. >> translator: more and more apartments around seoul are being replaced with small ones, under 40 square meters. we expect the number to keep grgrowing

labor secretary. it happens to be union critic andy patzer. the bosch -- the washington post the gravest crisis in decades. considered he announced the nomination less than 24 hours ago. net, what is it that they disliked so much about andy. there are couple of things to remember. >> this is not a fight with the union workers it's a fight with the union bosses. this is not a fight with the union records. they are the ones that are raising all of these money and then turning around and using them against us. i love the fact that trump has done this with the labor department. he's can undercut and undermined the credibility of union bosses which could not had implications only in the short term but in the future. we have talked repeatedly about how they were really left behind. and it's one of the reasons why she failed to win in these elections. the people that are running doesn't unions and shops they been big supporters of the left because the left has supported them. it's coming at the expense of the workers themselves. how did that need to

. >> businesses create job, labor unions do not.the contrary labor unions also discourage jobs by increasing the cost of labor without increasing its value. >> he didn't tell the truth. he inflated the numbers and i called him out on. >> reporter: prompting organized labor leaders to come to his defense, including the head of organized steel workers on "outfront." >> i really felt that wasn't a role for president elect trump to go after chuck jones. >> reporter: trump narrowed the gap with households in the election. and. >> thank you joe. and "outfront" now al fraid ortiz.fredo ortiz. simone, let me start with you. machines are always polite. they never take a vacation. a study by the ceo under president obama has numbers that support him simone it. concluded half a million people would lose their jobs if the minimum wage rose to $10.10. those numbers seem to support puzder's point of view. >> i think we've seen success in places like new york where they have raised the minimum wage. it is not something that happens overnight. it i

they say this prevented the figures from exceeding overtime limits to which management and the labor unionad agreed. labor authorities searched dentsu's offices in osaka, nagoya, and elsewhere. the investigation continues. >>> police in france may have a new lead in a case involving a missing japanese woman. they zeroed in on a message first believed to have been sent by her. they're investigating the possibility it was sent by someone else in an attempt to delay the search. 21-year-old narumi kurosaki disappeared in early december. she was last seen having dinner with another foreign student. a classmate received a text message from her phone after she failed to show up for class. it said she was going to sort out a problem with her passport at the japanese consulate office in lyon. the school contacted police about a week later to inform them she had not returned. it appears she hadn't visited the consulate office. police are trying to track down the male student she was last seen with. >>> japan's auto industry provided much of the horsepower for the country's post-war economic growth.

where were the labor unions that failed in their negotiations and sending 2,000 jobs to mexico. i'm a fiscal conservative. but he's not the president yet and what we should be doing instead of having trade wars is getting governors involved to create a tax incentive, an environment where businesses wants to stay. if you look at california versus texas. and how texas has been a magnet for new sectors and jobs, and california has absolutely been bleeding them. this is something trump pointed to throughout election with carrier taking these jobs to mexico and vilifying this company. is it just p.r. on both their parts? >> carrier knowing this does look good for him. he is a master of p.r. he knows by getting carrier to do this. it puts pressure on other places, other companies to make good and keep a few jobs around. they do about $5 billion with the department of defense. kennedy: i don't like the force. >> i get not liking it, but i see him using it as an effective weapon. >> i get uncomfortable when i hear word like an expert, a master. it's cute and transparent stuffe economy 2

the department of labor should be standing up not only for union members but working families across the country. he does not support the increase in the minimum wage. he did not support the overtime rule. violations,umerous labor law violations. he has made the statement that he would prefer having robots because of a not to take sick leave and vacation time. that is not have you grow the american dream among working families. workers are suffering in this country. clearly the economy is improved under president obama. but there is still a large section of this country, especially in certain pockets across this country where people in communities are suffering. and because of that i believe that's why trump is the president-elect. people were so angry and so frustrated and with a considered to be business as usual. they wanted to make a statement. they wanted to try something new and try something different because of that anger and frustration. but talking about not supporting the minimum wage for the overtime provision or having a questionable record as far as labor law violations,

there was the support of labor unions who understand that on a dead planet there are no jobs and thought in order to increase jobs, we need to move to new technologies that actually increase opportunities for employment, not decrease. >> she says there is growing commitment no matter what the new u.s. administration chooses to do. she hopes the business tycoon turned president-elect also sees that it makes business sense to stay on board. >> nhk has learned that months before a busy intersection in southwestern japan caved in, experts had issued a warning. the road near a major train station collapsed early last month. authorities blamed work on a subway system. the city had held a meeting of experts in august, they discussed a design change that involved digging the subway tunnel deeper than initially planned. this was to avoid a soft layer of soil containing ground water. the minutes of the meeting shows one expert says there was still a risk of a cave in even if the design changed. another expert said the ground could sin if ground water remains. crews were able to reopen the road aft

dent su's management and labor union had agreed on overtime units, but they believe the firm underreportedir actual working hours. they've also searched the agency's offices in nas aka and elsewhere. japanese electronics giant toshiba is taking a hit for flagging a loss. share prices dropped after the company warned it's expecting billions of dollars in losses in a u.s. power acquisition. >> translator: i sincerely apologize for causing our shareholders anxiety. >> toshiba says the losses came to light after a review of the assets of a nuclear plant builder. toshiba acquired the firm last year, through westinghouse, the group's u.s. power subsidiary. toshiba booked a loss of 2.2 billion. >> translator: -- $2 billion in fiscal 2015. the group has been folkicusing its semi- conductor business, analysts say the latest development may force the company to take radical steps including raising capital. >>> china has issued a white paper on its space development program. the report lays out policies for the next five years, to improve the technologies needed to operate a space station and enhance

. >> we're talking about a war of words between president-elect donald trump and a labor union over saving jobs. all at "nbc 10 news today" at 5:00, we'll see how. ♪ >>> "hairspray live" next, we'll show you how philadelphia played a part in the broadcast and musical. >>> good morning, everyone, jessica boyington watching the roads, watching new jersey right now, this is the white horse pike around burlington. cross keys road. but the roads are dry and not dealing with any delays just yet. 295. we'll check in with the blue route when i come back. >>> all right, thank you. catching a bus or in a train station just got easier for students at the university of pennsylvania. a new travel center held a ribbon cutting ceremony yesterday. the center located at the penn bookstore will offer people help and information to travel in and around the campus and the city. customer service agents will be at the center monday through friday. >>> a first in new jersey, as promised camden county has rolled out a new smart 911 system that saves lives when seconds matter. it happened, and people can go on to

. >> the labor union, we negotiate fairly living wages and benefits. on the carrier situation in its enti entirety, it was all about wages. we have a skilled work force. because of corporate greed and unfair trade they want to move the job out of the country. if he wants to blame me, so be it, but i look at him, how many pl billions of dollars he spent on his hotels and casinos to try to keep labor unions out. i like my side of it trying to work the best to make the people's lives the best they can be. >> i want to play what you had -- some of what you said ant show which may be what donald trump was responding to. i just want to play this. >> okay. >> they announced step one time the research and development jobs, about 350 of them were going to remain here in indianapolis. then when mr. trump got involved, what the actual number of jobs saved is 730 bargain unit jobs. the workers of the union members. and another 70 office and supervisory clerical workers from management. and what they're doing, they're counting in 350 some odd more that were never l

. >> what we do as a labor union. we negotiate fairly living wages and benefits. so on the carrier situation in its entirety it was all about wages. we can't complete with $3 mexican workers. we have a skilled work force. the company is profitable but because of unfair trade they want to move these jobs out of the country. he wants to blame him. so be it. i look at hymn, how many bflds dollars he spent on his hotels and casinos trying to keep labor unions out. >> there you go, can evan. >> yeah, dana makes a good point about why would donald trump do this particularly if these are the union members that supported him. i think the thinking there that many of the union members aren't happy with union leadership. donald trump, the one thing he has tried to do is shake up the status quo, whether in washington or whether it's with union leadership around the country. the other thing that's interested in that second call by chuck jones, he was carrying a message that donald trump carried to those very voters in those states that resonated, which is questioning some of t

. >> what we do as a labor union, we negotiate fairly living wages and benefits so on the carrier situation in its entirety, it was all about wages. we can't compete with $3 an hour extra workers. we got a skilled workforce. because of corporate greed and unfair trade, they want to move these jobs out of the country. so if he wants to blame me, so be it, but i look at him, how many millions of dollars he spent on his hotels and casinos, try to keep labor unions out. >> there you go, kevin. >> yeah. dana makes a good point about why would donald trump do this, particularly if these are the union members that supported him. i think the thinking there is that many of these union members aren't happy with union leadership, and donald trump, the one thing he's done is try and shake up the status quo. whether it's in washington or whether it's with union leadership around the country. the other thing that's interesting is in that speech -- in that second call by chuck jones, he was carrying a message that donald trump carried to those very voters in those states that resonated which is questionin

lot of folks for whatever reason, i won't get in a debate about that today, they may not like labor unions, okay. if they don't, that's a discussion for another time. but what people lose sight of a lot of times is the fact that people are losing their livelihood are people in the community that all they want was opportunity to work, provide for their families, and now because of what i said earlier, these are being stripped away. people in indianapolis, i don't want to be negative, but is there a lot of $23 to $25-an-hour jobs that these folks are going to be able to go to? most certainly not. so their lives for the most part, and i don't want to use the word "ruined," but they're going to be drastically change ed because they're used to a certain lifestyle. and now through no fault of their own, that's being ripped away from them. some of them with the taa money and education, they'll be able to take advantage of that. some of them will be able to retire and receive some training. some of them might end up in some manufacturing. the manufacturing jobs that pay anything are far and few be

labor unions were a big part of it. labor unions in part of product of new deal legislation in the 1930s and we're at their hay day in the 1950s so things were getting people will middle skill and income in the 40s and 50s. as their hours of work were declining these same people are experiencing unpress -- historically unpress deputied decline in their ability to find jobs so another jaunt classify this as a headwind so let's make that number five. >> well it is not different from your inequality and your question that -- even if it will continue there will be problem on the hordes inequality is a serious one. but i -- am i tend to be bullish on unemployment prospect and the reason i am is largely because technology jobs and it creates jobs unfortunately people jobs who are destroyed can't always move organically and naturally to other jobs and that's a big tragedy occurs but i challenge anybody to think about jobs that are occupations today and act -- try to make -- go back in time mentally speaking and ask your great,

they are reporting this agreement between siemens and the labor union. include thets rights of employees to form work councils and an establishment of a committee that includes labor union representation. we're focusing in on the banking sector in spain. one of the banks in spain is it -- has agreed to sell 20 of its hotels to apollo. it will sell for 700 million euros. million euros in debt linked to the hotel. it sought to sell 32 hotels but now looks as if it is selling 20. let -- let's look at t ee futurs as we head toward the start of european equity trade. the asian equity session has been fairly flat. around -- up by .8%. so that is the handover we are dealing with into the european equity market. the yen considered to be stronger this morning. this is bloomberg. ♪ >> good morning and welcome to "bloomberg markets: european edwards andanna bloomberg's european headquarters in london. moments away from the start of the european trading day. obama callednt donald trump after the republican complaints about roadblocks in the transition process. gold

those employees not represented by labor unions that they were at-will employees. that they were in management positions and needed to perform to that level. we also introduce a much stricter ethics and nepotism policy. we have had issues in that area. and so we've set the boundaries very clear for people to understand. and unfortunately, i have had to do a number of terminations either for professional conduct or work rules not being followed. and i don't like to do that, obviously, to impact someone's livelihood, but we all have to be held to a certain standard and we have to enforce that. we've also had to deal with the budget realities. for last year, this current budget year, i've had to eliminate 500 positions. not a proud moment, but an action that needed to be done from a management per spective. and i am proposing another 500 in the upcoming budget. i've also reduced the health cost. some of the payments we've been making for the nonrepresented employees. not necessarily the nicest things to do but given the budget realities we're up against that we have t

and so you got these dual impacts of labor union discrimination that pushes blacks into the middle and forced them to strategize about how to make a living. and one of the strategies they employed, a very dangerous strategy in many ways because it meant that white workers were hostile and off earn very violent against the striking workers and black people had to 1/2 debate that experience. the good thing for them over the long haul, they gradly got a foothold in a major industry. and for a while, the companies would release most of these workers after the strike, but they did have a small contingent of blacks that came a core of black workers that persisted until world war i, so by the time the great migration hit, there was another era of recruiting blacks into the industry. they were some of the most favored jobs and paid more. it did create an economic foundation for building families and communities and in the wake of the great migration, these communities, they really blossomed and expanded. work in the steel industry helped fuel the development of churches, fraternal orders, civi

labor unions were a big part of it. labor unions were part of the new deal legislation in the 1930s and were at their heyday in the 1930s so things were getting better or people in the 40s and 50s. after hours of work were declining. these same people are experiencing historically unprecedented declines in their ability to find work. i don't even classify this as that anymore. >> is not different from your treatises on inequality and the question is even if logical protest were going to continue there would be major economic problems on the horizon and certainly nothing about this is a serious one but i tend to be bullish on unemployment and the reason i am is largely because technologist jobs in the industry, unfortunately the people whose jobs are being destroyed can always move organically and naturally to the other jobs and that's where that happens but i challenge anybody to think about jobs that are an important occupation today. and go back in time and ask your great-grandmother in the 1900, your great-grandson i

. >> all of the blood will drain out of every labor union in america. is a provocative way for trump. you are taking a guy not only from management of a major corporation but the labor intensive operation which is fast-food to feed people. this is the front line over the battle of minimum wage increases. this is the front line in terms of labor regulations and will it be easier or harder to unionize. this is a provocative state that said this is open for business president see. >> we talked this morning about the number of critics who said he's choosing too many military for hiss cab be net; what dew think about that? >> obviously the choice of james mattis got bipartisan support and well respected. and moving in former general kelly in the department of homeland security and two of throw with michael flynn national security adviser. we now see trump weighing the question of another military officer for secretary of state. we've heard about certainly general petraeus, but there are others in the offing. and we heard that trump likes businessmen for secr

>> hey, dagen, the nation's second largest labor union slashing its budget saying when president-elect trump takes office unions will take a loss. but some here say that means all workers will win. plus, brawling teens creating havoc at malls across the country, now calls to ban minors without an adult to keep shoppers safe. we'll debate it at the bottom of the hour. >> thank you, kennedy. we can't wait. >>> but up here first, one of president obama's last acts, slapping russia with sanctions over accusations of trying to interfere with our election. lawmakers from both parties saying it's not enough. are they right? we debate, you decide. next. imy moderate to severeng crohn's disease. i didn't think there was anything else to talk about. but then i realized there was. so, i finally broke the silence with my doctor about what i was experiencing. he said humira is for people like me who have tried other medications but still experience the symptoms of moderate to severe crohn's disease. in clinical studies, the majority of patients on humira saw significant symptom relief. and many ach

with the demise of labor unions over the years, a lot of their support base has eroded. so, the trick is to appeal to a lot of those workers left behind by the great recession. everything is economics these days. that is what this election said. that is almost what all of these elections said. 2010 was a little different, because obamacare made a difference. however, economics is the way. democrats need to find a weird appeal in this way, otherwise it will not work. have a twitter message sent in. going into 2018 and 2020, what do democrats face as far as elections? aret: midterm elections always difficult for the incumbent party. nancy pelosi's argument was that she has done this before, and she knows what it takes. in 2004, we wiped out the republicans in the midterm elections. her or is it right now is she experienced and she can do it again. that's her argument. 2018 will be a very different cycle for republicans. a lot of people that were thought to be wiped out this year were not, but they will be very vulnerable in two years. historically, it is a tough cycle for

part of their problem i think is that they have been for years the party of labor unions. and just with the demise of labor unions over recent years, a lot of their base has eroded. and so the question is appealing to a lot of those workers who were left behind after the great recession, convincing them that democrats are for them, that their policies are going to help them improve, particularly economically. everything is economics these days, right. and that's what this election said. that's what almost all of these elections say. 2010 a little bit different. because obamacare played such a factor that was the anomaly. economics is the issue. democrats have to find a way to appeal to the voters that they say they will help. until they do that, they're going to be in the minority. >> we have for twitter a viewer who says he is giddy about nancy pelosi's reappointment that confirms that dems are triple down and ensures even greater losses in 2018. >> midterm election is always a tough one from the incumbent party. pelosi's argument right now is i've done this before. this

. >> you call labor, big picture labor the 11 million people who are in the unions? that's who you call labor? how about the other 130 million americans who are working who aren't unionized who are against everything union? >> against -- i don't think that's true. i think what you are saying is there are fewer americans who are in unions because -- >> they're not effective. >> are mostly -- >> 11 million. >> because wages have been going down. people are struggling for jobs. >> labor unions have done a terrible job. >> what i'm telling you is, big labor is not stupid. this is like the attack the other day by trump. >> big labor is stupid. they are pricing themselves out of the market. >> because they're greedy. when you are in a party pig like that -- >> you know what? the choice of puzder is telling you what the future is. the future is automation. all of this stuff about saving 1,000 jobs here and there, it's not going to stop automation. >> can i tell you what the difference is? the automated factory is going to stay here. when it comes down to where they want to h

. >> reporter: he bet the farm that in this state with weak labor unions here, could attract there into massive industrial ready sites. >> if you build it they will come. >> yeah, installing the water. installing the sewer. installing the roads. getting everything ready so when that company comes to locate they're eliminating all risk. the lot is there, ready to stick the shovel in and built. >> reporter: he had to convince county supervisors to spend almost $12 million on the first site where steel dynamics now sits. he has since built up three more. it wasn't an easy sell at first. he told us, people in the golden try triangle were paralyzed by the decline and poverty. he saw the area rich in assets. an airport. railroads, waterway that ran north to the great lakes and south to the gulf coast. and a quality engineering program at mississippi state. i said these guys should be winning. you know, something is not they didn't realize that they were big and strong and fast. nobody had ever told them they were big, strong, fast. they just thought they were, slow and stupid. i guess. >> he

i look at him how many billions of dollars he spent on his hotels and casinos trying to keep labor unions out. >> reporter: today at trump tower the president-elect will be meeting with one potential secretary of state contender, formernato commander james tavrias and then travel to columbus, ohio, to meet with the victims and first responders from the ohio state attack. another one of these campaign-style rallies he's been having. >> the thank you tour. all right sunlen, thank you very much. >>> sounding the alarm about trump's pick to head the epa. they're vowing to mount a fierce fight against oklahoma attorney general scott pruitt. joe johns live with more. what's the state of play? >> well, chris, the selection of scott pruitt at epa is in line with donald trump's policy pronouncements on the campaign trail, but quickly created a storm of outrage on the left. one former top aide to the obama administration calling pruitt an extutential threat to the planet. >> reporter: scott pruitt, donald trump's for environmental protection agency administrator is a staunch climate change denier.

monopoly and you think of how it will help him in these rural areas and make it easy to form a labor union that would have been huge of what we see unfolding. >> governor, the argument that you know, the democratic party needs to be more populous and left wing and more caution about trade, is that is the thoughts forward? >> i think it is part of the path or the discussion. i don't think we spoke to a lot of our former supporters. we did not reach out to them properly, i think. we also are up against quite a phenomenon if you think about mr. trump's trajectory. but, i think and i absolutely adpr agree that we need to talk about issues that's important to people. >> should be tougher on trade and perhaps against trade and against nafta and much tougher on wall street. what i wonder and i saw you quoted saying, well, you know, lets got forget that we have a modern professional of voters who may get turned off by this. >> i do think we need to change how we speak to folks and we need to be less washington centric and -- it is an interesting difference, if you think about who speaks the democr

. >> i think you will see a lot of labor unions pushing back and those who represent them. but it is the wave of the future. we are moving in this direction and we have to trfor . i get it. it is a job killer. but more people are going maybe use grocery services now. it seems like what is coming next. >> we are not even talking about the privacy issue. >> what of it? >> if amazon is tracking your habits and knows what you are buying, that's the world we live in. i am not arguing -- >> you go into 7-eleven and you bring in a coat with all of the pockets. you get the food and you walk out. they have been around forever. it is a terrible idea and it is a job killer and they are tracking your every move. if you don't want to buy foot at the cash register, just steal it and nobody loses their jobs. >> you can't steal from amazon go because everything is tracked. >> exactly. you are letting the man win. go to stop and shop and steal the stuff. >> i am with him. >> i just walk out holding it. >> they never question me. >> i got two kids. no way he is stealing. >> why do you need t

the labor union was trying to resolve the long-running dispute over driver operated train doors.news 24 hours a day powered by our 2600 journalists and analysts in more than 120 countries. i'm alisa parenti. this is bloomberg. it is just after 5:30 p.m. wednesday in new york. paul allen with a look at the markets. good morning. paul: good morning. let's check on new zealand, first up and running. nowone third of 1% right and nikkei futures are showing some strength, but we are expecting to see declines when the afx opens in a little under 30 minutes time. keep an eye on tt be telecom. it just made a winning bid to fourthsingapore's mobilephone operator. the oil and gas company seeking 1.1 billion dollars in share purchase plan to strengthen its allen sheet and further fueled growth opportunities. the us trillion dollar fell steeply overnight after the greenback strengthened, adding about 25 basis points. but the aussie dollar may move again, expected to hold steady, but australian unemployment figures are notoriously unreliable. more from "bloomberg technology" next. emily: this

a sign that they labor unions in the u.s. are bracing for tough times. -- the seiu is thean for a 30% budget cut -- seiu is preparing for a 30% budget cut. turning now to bank of america. brian monahaneo has been working to simplify the stretch of the bank. he presided over a lot of consolidation. he spoke about his strategy in an exquisite interview with weston in boston. weston in boston. brian: when i interviewed, i had a list of everything that did not its with the core consumer franchise. core commercial banking franchise. capital markets franchise. it came through a lot of the enterprises we acquired. we needed to deal with it. i showed the board, and if we took the risk out of those out,ess, to the capital took the complexity out, you could tighten for company. so we went from $2.7 trillion in assets to $2.2 trillion. we went from credit card operations in five or six countries too, if we complete down to onee, country. it was based on a basic principle that our basic business model was all of our businesses operate in the united states. and then

the head of the labor union representing senior u.k. servants criticize the prime minister for not acknowledging the complexity of brexit, according to the guardian newspaper. the latest critique has concerns that the u.k. has not put in place resources to deal with such a large task. may has said she will trigger article 50 by the end of march. this may be more fallout from the brexit vote. itons are holding onto their cash. personal deposits grew at an annual rate of 4.8% in november. approvals for home loans fell 9% from a year earlier. search teams have now recovered the second flight recorder from that military jet that crashed into the black sea. investigators will use two devices to find out why it plunged into the water moments after takeoff from sochi. all 92 people on board were killed. that seemsade a move to challenge president-elect donald trump. they have deployed their only aircraft carrier to control the disputed south china sea. it is accompanied by five other warships. trump antagonized chinese government's comments on

well if you were a president or , prime minister, you would tell labor unions they should not demand such higher wages. you would tell business they should not raise prices. you should impose a price freeze. we tried that in the united states and many countries try the same thing. all of those things were meant to kill off cost push inflation. whereen we had some idea the idea was demand inflation was due to companies borrowing too much to invest too much in their businesses. you made credit hard to get and that was the solution. these were treated as different beasts, and then, you had monetary inflation. you had all of these policies we would think of as bizarre today. i do not think any president today would stand here and lecture a labor union saying you need to ask for smaller wage increase because otherwise you are going to cause inflation. that is certainly what we had going on in the 1960's and 1970's. today, i think we have an understanding that inflation is really caused principally by monetary policy and it is something the federal reserve system or other central banks can

organize a labor union?ted their lives to the emperor, belief in japan's commission to conquer runs through the whole people. this makes practically all of them willing prisoners of a vicious iron-clad social system so perfect it made hitler's mouth water. on top of the heap of this social structure are leaders of the army and navy. who surround the emperor. they are japan's first team. nearly equal in power are the familiesh aristocratic who own the wealth. they're the second team. the militaryl with rurals, because the war records give them cheap labor and they in turn provide the money for the war machine. next in line are the whoessional politicians, are appointed by the governors as rulers over the provinces. stoogeslitical slavishly follow orders. at the bottom of the heap, the peasants and workers, the masses. inmake sure the masses stay their place, there are the andce, the japanese gestapo the billions of ghosts of dead japanese ancestors who watch of the living. just in case some japanese don't ani

president reagan, before he was the republican governor of california, ronald reagan out of the labor union organizing movement that traveled the rails to explain america to factory workers said in any free republic you are one generation away from the extinction of freedom. if you don't pass on the inheritance of what america means, you will lose it. that is what is happening. what is happening in the country is we are reaping the fruit of a decision, sort of, a drift in the late 1960's in the midst of lots of disagreements. some of it really important. the civil rights movement, the vietnam war led to important debates. lots of debates that were not as important as narcissists thought they were. it led to a decision to stop passing on a shared civic sense of the american idea. we are 2 generations into an era of kids raised with historical amnesia. at the same time, we are migrating across one of the greatest economic disruptions in human history. the historian in me is cautious of saying anything sweeping like that, but we are going through arguably the largest economic disruption in rec

she a labor union organizer. he was elect and made the remarks in a public forum.mp's tweet elevated the issue and elevated the position and he wrote it for the washington post. i understand why have the attention of the president of the united states could be intimidating on twitter when there are twitter follower coming up with vicious attacks. >> yeah i think the jones tweet was provocative. when you have the bully pulpit and a huge twitter acoucount, that's a big set of ammunition. i'm not as troubled with the use in this situation, but there's a young woman that spoke up at a trump rally and questioning him pretty strongly, but not in aapop ritly. he went after her and produced threats and death threats and also he needs to be careful about that now that he is in the bully pulpit. >> yeah, the media and there's a big spoonful when it comes to this and when president obama in 2012 is running against mitt, the campaign singled out private donors and eight of them for the public disparagement and accusing him. you did not hear the media saying that president obam

outsourcing services like that, but volkswagen has always resisted that, part of the role is the labor unions there is a vital interest to protect jobs, and that has led to some of the excessive results, where a sausage factory, a flower service, a postal service is still run from the company itself. carol: one stat, volkswagen employs 80% more people than tour yoda produce the roughly same number of vehicles, so it sounds like excessive headcount there. >> volkswagen worldwide people,s about 620,000 120 one factories, more than any other automaker. the key reason behind this is because all sorts of different parts and components in-house, whereas other companies have outsourced the manufacturing of parts and components that are not critical to external suppliers who can produce these items at lower costs than the manufacturer in itself and that is something the company is currently trying to resolve by bundling the component operation into one big organization, but there needs to be something to get the cost down. carol: speaking of free booths and remodels, the troubled story of the america

the head of a labor union representing senior uk's civil servants criticized prime minister theresa may for not alleging the complexity of brexit. that's according to the guardian newspaper. the latest critique as for incerns the u.k. has not put place the resources for such a large task. may said she will trigger article 50 by the end of march. this may be more fallout from the brexit vote. may be's -- britain preparing for economic uncertainties. were at anposits annual rate of 4.8% in november. approvals for home loans fell 9%. theral prosecutors said head of tunisian man they think might have been involved in last week's attack in berlin. in man's number was saved the cell phone of the fellow to have german a truck into the market. he may have been involved. 12 people died in the attack. secretary of state john kerry for outline a plan for resolving the israeli-palestinian conflict. he is delivering his speech with just three weeks left in president obama's term. infuriatedafter they the israeli government last week. the u.s. refused to veto a resolution that criticized israel over

. >>> a major labor union has won the right to organize workers at the new trump international hotel in downtown washington. local 25 of the union unite here says trump officials have agreed not to oppose their organizing effort. 130 workers now will be asked if theyment to join the union. unite here represents about half of the hotel workers in the washington area. the union is organizing 1300 workers at mgm national harbor. >>> social media has extended everyone's global reach and that can be a good thing. but even a solid piece of journalism can be distorted by somebody else and published online. within seconds, the misinformation multiplies and spreads not unlik a disease. here's an example from our own newsroom. >> last week our digital jour l journalist contacted local schools. she wanted to find out who was applying for the parade u. >> i was surprised to find out that no schools applied to participate. i found one is applying and that's in fairfax county. >> she dug deeper. i ended up interviewing 16 people about who was applying. >> nbc "washington post"ed the well sourced s

corporations and labor unions can make political donations. the supreme court said yes.t has too much influence. so what is interesting is the have of time warner is taking the issue as something he doesn't agree with. it's interesting. of course we are all wondering whether the deal is getting it done. >> there are a lot of people that don't like it including president-elect donald trump. this is just too much concentration of power into few hands. you're creating you are creating a pretty big company here. what is a danger here for consumers. those are the two things that they will always look at. however they will say look at actually puts us in a more level playing field to take on the google, the facebook and all of these because of all in novation. if you will have don't have anything to send through those pipes here in a tough spot. they're realizing that. they're recognizing that these cable companies had to innovate that is exactly right. we are in an app driven world. they have the advantage. if a big content provider with a distributor in at&t they say this is