lloyd blankfein used the words london could stall. will stall. will stall, sorry. that from the people you know and we'll talk to? it isa people you know and we'll talk to? it is a strong warning, it is his most substantial take on the risks of brexit, and notjust to the united kingdom as britain leads the eu, but also to the european union. he does not really want to talk about his own profits and his own bank, he knows nobody really cares about goldman sachs and the billions of dollars they make every year, but he talks about the businesses that use the banks to raise money to invest, and governments that use the banks to raise money for the debts they are carrying. he says if there isa they are carrying. he says if there is a poor deal, it means the system of funding becomes less efficient and less secure. i asked him if the uk was less attractive for banks like goldmans and others outside the european union and the single market. a lot of people elect to have their european business concentrated in a single place. and the easiest place, certainly, for the bigge

i think lloyd blankfein sides in this brexit debate.s brexit debate. i think lloyd blankfein wants to make a simple point in his arguments, that the more barriers there are between britain and the eu, whether in trades or in any other industry, the less economic wealth can be created. i kicked off by asking him whether or not britain outside the european union was less attractive for banks like his. a lot of people elect to have their european business concentrated in a single place. and the easiest place, certainly, for the biggest economy in the world to concentrate, would be the uk. partly the culture, the language, the special relationship. and we are an example of that. if you cannot benefit from access to the eu from the uk, and no one knows what those rules and what those determinations will be, then the risk is that there be some adjustment that will cause some people to have a smaller footprint in the uk. it is the word former... smaller footprint back mean job losses. he says goldman is committed to london and there should be

goldman sachs' ceo lloyd blankfein. yeah.about this, but, you know, his role, history with gary is -- >> i asked if he spoke to gary taking the roam in the white house and he had, but not often. lloyd blankfein spoke of the other former goldman sack employees, likes of steven mnuchin, particularly the rhetoric on the came pain trail was not warm to wall street, but overall, described people in those roles as inconvenient saying he used to speak to treasury secretary jack lou regularly, and he's, quote, app p p pre-- apprehensive how it looks if he speaks now. he's proud of the appointments, but inconvenient. answers about the health and broadly about the tenure at goldman sachs of chairman and ceo. they w frank and honest. talking bowe the fact, going in the 12th year, experience that brings in terms of positivity towards the role, feeling comfortable, but said, look, i admit i'm not sure whether comfort is good or bad thing. doesn't rest on the laurels, but pleasing about his health. >> i want to ask mike, because you're her

lloyd blankfein told the bbc that the company was developing contingency plans to move some of its 6,500es out of the capital depending on the outcome of the negotiations. mr blankfein was talking exclusively to our economics editor, kamal ahmed. lots of people he lacked to have their european business concentrated ina single their european business concentrated in a single place. —— elect to have. the uk is the easiest place to concentrate, with the culture and the language and the special relationship. we are an example of that. if you cannot benefit from access to the european union from the uk, and nobody knows what those rules and those determinations would be, the risk is that there will be some adjustment that would cause some adjustment that would cause some people to have a smaller footprint in the uk. is written outside the single market? the prime minister has made clear she wants to be less attractive for a firm like yours. i would say that it is our hope that we would be able to conduct our business as close as we can to the way we conducted today. we have to be not in the f

we are here with lloyd blankfein who has been chairman of goldman sachs for 10 years. n't think any of your predecessors in the last two decades stayed that long. is that right? lloyd: i'm sure it seems that long but they didn't stay that long. david: let's talk about your early life. you grew up in new york city. when you were growing up, you didn't have a lot of money. was money something you thought about when you were growing up? did you want to have a lot of money? what were you interested in when you were a young boy? lloyd: i didn't think about money because i went to school with kids like us. so i didn't know -- i don't know if it would have changed me, had i known, but i didn't know the range of possibilities. i did not know we were not well-to-do. i grew up in brooklyn. david: your father worked -- as my father did -- in the post office. lloyd: they were colleagues. david: right. mine worked in baltimore, yours worked in brooklyn. their job was to file the mail. sort the mail. so you weren't wealthy. you went through public schools. but obviously did pretty we

lloyd blankfein said that his firm which employs 6500 people in the u.k. has contingency plans to move people depending on the outcome. he added that he hopes the bank would not have to trigger the plans as he wants to keep as much of its activities in the u.k. as possible. britain's forthcoming exit from the european union poses little concern to corporate starter slack technologies, which opened a new office in london. ceo stewart butterfield told bloomberg the u.k. remains a key market regardless of brexit. >> brexit or no brexit, london is still london and the u.k. is still the u.k. it is a big market and we have hundreds of thousands of users across the country. china is making its boldest attempt yet to break the stranglehold that airbus and boeing have on the market for commercial airliners. after years of delays, the first modern large jet made its maiden flight this morning. the c919 is made by state owned comeback, but behind the made in china tag, the c919 depends on western suppliers. mark? mark: wti climbing back above $45, earlier slipping be

lloyd blankfein told the bbc that the company was developing contingency plans to move some of its 6,500ations. mr blankfein was talking exclusively to our economics editor, kamal ahmed, and that interview is coming in world business report. i bet you can't wait. you stay tuned. that is coming up in about 17 minutes. iam tuned. that is coming up in about 17 minutes. i am going to bring that to you. a couple of minutes, that is all. the french presidential election is entering its last days before the final round of voting at the weekend. cadidates marine le pen and emmanuel macron have promised to bring renewal to french politics. one key issue throughout the campaign has been the economy. here's a reminder of the competing visions the candidates are trying to sell. emmanuel macron wants spending cuts of 60 billion euros — that's $66 billion — over five years, with a 50 billion euro stimulus package over the same period. he also wants to lower taxes and extend the welfare state. he says he could still keep france's deficit below the eu's limit of 3% of gdp and would cut 50,000 statejobs.

lloyd blankfein.end it back to headquarters. >> snek up reactions to cnbc's -- do not go anywhere. "power lunch" is back in two. only t-mobile one gives you unlimited data with taxes and fees included. that'll save you hundreds. get two lines of unlimited data for a hundred dollars. that's right. two lines. a hundred bucks. all in. and now, the brand new samsung galaxy s8 is here. so what are you waiting for? get the new galaxy s8. plus get 2 lines of unlimted data for a hundred bucks. taxes and fees included. only at t-mobile. ...you realize the smartest investing idea, isn't just what you invest in, but who you invest with. ♪ a 10-speed direct-shift 5.0transmission.ine. a meticulously crafted interior. all of these are feats of engineering. combining them with near-perfect weight distribution... ...is a feat of amazing. experience the first-ever 471-horsepower lexus lc 500 or the multistage hybrid lc 500h. experience amazing. >>> welcome back. before the break wilford frost spoke to lloyd blaine bla

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. >>> tomorrow, be sure to sit down with wilfred exclusive lloyd blankfein at 2:15 on "power lunch."y tuned you're watching "worldwide exchange" on cnbc. watch unlimited robots. watch unlimited romance. if you are into that. but we also want more like... unlimited hbo. can i stop dying now mark? no can't do mi amigo. it's unlimited. besides you are really good at it james. don't settle for any unlimited data plan. only the at&t unlimited plus plan comes with hbo included at no extra charge. ♪ what we do every night is like something out of a strange dream. except that the next morning it all makes sense. to power global e-commerce fedex networks are massive, far-reaching and, yes... a little magical. fedex.com slash dream the shlike a bald penguin. how do i look? [ laughing ] show me the billboard music awards. show me top artist. show me the top hot 100 artist. they give awards for being hot and 100 years old? we'll take 2! [ laughing ] xfinity x1 gives you exclusive access to the best of the billboard music awards just by using your voice. the billboard music awards. sunday, may 21

jamey dimon, lloyd blankfein are all ready to more more to use, whether it's back to share holders orestors, just waiting for regulateders to free that up. another positive tone, sentiment, relaxed sentiment from a bank ceo. bank stocks turned just negative, the financial sector, earlier this week for the year as a whole. only three sectors in the negative territory, interesting that banks were one of them. >> i like kelly evans questions about millennials and avocado toast. >> also very important. >>> switching to apple. tim cook spotted at the afteral campus testing out a device attached to his weiss. he was wearing a glucose tracker which could make the device a must-have for diabetes survivors. he has a team dedicated to "the holy grail for the disease" and glucose monitoring if that happened a big upgrade for the apple watch. >>> to sports. facebook wants to take you to the ball game. it struck a deal with major league baseball to stream 20 friday night games this season. starting with tonight's match-up between the colorado rockies and cincinnati reds. the game will air to free.

. >>> don't miss cnbc's interview with goldman sachs chairman lloyd blankfein today at 20:15. >>> before we wrap things up for this side of the show, a quick look at european equity markets. seeing modest buying across the board. the xetra dax up by 0.25%. similar gains for the cac 40 trading near a nine-year high after losing roughly 1% in yesterday's trading session. so the macron rally that many expected for yesterday did not quite materialize. what we saw yesterday was by in large a lot of profit taking. given that the markets had priced in a macron victory for the last two weeks. the ftse 100 is up by 0.25%. we are seeing a rebound in basic resources. glencore is up by more than 3%. once again, overall, we are not too far from 21-month highs for the european equity markets. check out our blog which runs throughout the european trading day. we'll be back with more "street signs" after this short break. so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer exp

we are going to go one-on-one with lloyd blankfein.to talk the market, deregulation under trump, tax reform and more. also with us, home depot cofounder, arthur blank. he's expanding his bet on the future of golf. we're going to get his take on the future of retail and we'll do a check on valiant pharmaceuticals. tim picked up the stock in our draft. it is soaring today. we're going to get his take. that's all ahead, but more of the halftime report right after this. trz trz meta appetite control... it's your glass of willpower that helps keep cravings... ...far, far away. feel less hungry with the natural fiber in clinically... ...proven meta appetite control. from metamucil. . >>> we're back every year at the sohn conference. every year, up and comers get the opportunity to present their ideas as part of the srk ohn idea contest. dylan is a wharton business student and is the winner of this year's contest who prese presented his pitch. you're an undergrad in a competition of mostly professionals and mbas. >> yeah. >> makes it even mor

we look forward to your interview later with the ceo and chairman lloyd blankfein in the 2:00 p.m.r. strong words from ibm after its watson product was called, quote, a joke. later hear how ibm respond. he is helping lead the charge when it comes to streaming original content. ben silverman back on the show. "squawk alley" back on the show with the dow now negative 8 points. because geico was a heavy user. the answer is we missed it. i never made a trade in a stock based on gdp figure. every smart guy tempted by leverage, and some of them are broken by it. i never called the president in my life, never. we have not made significant acquisition for 15 months or thereabouts. >> getting a little itchy. a li. >>> some strong words for ibm from social capital ceo and founder just days after warren buffett says he slashed his stake in big blue. he is taking aim at the company's watson product. >> watson is a joke. just to be completely honest, i think what ibm is excellent at is using their sales and marketing infrastructure to convince people who have asymmetrically less knowledge to pa

lloyd blankfein at the top, ceo, and chairman harvey schwartz plays the role of cfo as well.thing, you are such a wizard. scarlet: thank you for joining us. julia: time for the bloomberg business flash, a look at some of the biggest business stories in the news right now. tyson being questioned by florida's attorney general about anti-competitive conduct. tyson is already under investigation by the sec for allegedly colluding with other producers to drive chicken prices higher. separately, tyson posted lower quarterly sales and earnings. opec could be considering deeper output cuts to produce -- reduce a worldwide glut of oil. delegate say the possibility is being discussed as a way to boost flagging oil prices. wasmilar production cut agreed to last year. the price of oil initially rose but has since given that most of its gains. coach has agreed to buy kate 2.4 billion dollars. coach has been trying to build a multibrand company through acquisitions. kate spade sales turned negative in the first quarter. ahead, how to trade the russell 2000 in our options in sight. from new

on power lunch today, wilfred frost will be sitting down with lloyd blankfein. blankfein. blankfein. hey. pass please. i'm here to fix the elevator. nothing's wrong with the elevator. right. but you want to fix it. right. so who sent you? new guy. what new guy? watson. my analysis of sensor and maintenance data indicates elevator 3 will malfunction in 2 days. there you go. you still need a pass. the power of a low volatility investing approach. the power of smart beta. power your client's portfolio with powershares. before investing, consider the fund's investment objectives, risks, charges and expenses. call 800-983-0903 for the prospectus containing this information. read it carefully. distributed by invesco distributors inc. a used car,g this information. read it carefully. if you want to stay on top of your health, one simple thing to do -- is take the pledge to go and get screened for the cancers that might affect you. so stand up to cancer and take the pledge at getscreenednow.org it only takes a minute to take care of yourself, and nothing rhymes with "org"... ♪ >>>

. >> reminding you tomorrow, lloyd blankfein, exclusive guest on cnbc. the goldman sachs chairman with us. a lot of changes in the executive ranks announced today and over the weekend at goldman. thank you for watching "power." >> "closing bell" starts right now. ♪ >>> hi, everybody, welcome to "the closing bell," i'm kelly evan, and, bill, i'm at the conference in new york today. >> imagine that. i'm bill griffeth, and kelly, i'm at the new york stock exchange today where the most exciting thing here is the vix is comfortably below 10. we're all astounded. >> oh, yes, i could imagine. filling you in on what's happening here today. investors give the best ideas all in the name of raising money for paid yediatric cancer and research. we have a number of speakers joining us live here throughout the next couple hours. there they are. we have nascar champion jeff gordon and cliff robins of bull harbor group, and a unique way to play streaming media, and, yes, involves teletubbies. >> oh, boy, looking forward to that coming up. green light capital statement e

. >> reminding you tomorrow, lloyd blankfein, exclusive guest on cnbc. sachs chairman with us. a lot of changes in the executive ranks announced today and over the weekend at goldman. thank you for watching "power." >> "closing bell" starts right now. ♪ >>> hi, everybody, welcome to "the closing bell," i'm kelly evan, and, bill, i'm at the conference in new york today. >> imagine that. i'm bill griffeth, and kelly, i'm at the new york stock exchange today where the most exciting thing here is the vix is comfortably below 10. we're all astounded. >> oh, yes, i could imagine. filling you in on what's happening here today. investors give the best

> two more quick points from what he said, one, that he's saying that similar arguments about lloyd blankfeinnd others, disadvantage u.s. banks against the rest of the world? clever and geaccurate point. >> he said, if you want to look at big things in the world, look at the chinese banks. you want them to make end roads, go ahead. >> right. the other point to take away in terms of all the bank regulation on capital again, seven ways from this, clear there's capital in the system. this coward come down, banks are saying that, and that's certainly a factor in the banks. >> steve eisman said there's no systemic issue in the banking issue. times changed. more in the interview to come in the next hour. >>> breaking ne inin ining newse house. >> reporter: this afternoon, the president had lunch with top television anchors, and they've released a piece of what he told anchors inside the white house moments ago. this is reaction to the special counsel being appointed. that news breaking last night. here's what the president had to say just a few moments ago inside the white house saying, i believe i

. >> that was lloyd blankfein speaking to wilfred frost yesterday on "power lunch."or more let's bring in julian emanuel from ubs as well as phil orlando from federated. guys, welcome. phil, the headlines there, trump firing james comey, your job is to make your clients money. does this jeopardize the markets or their confidence? >> raises a question in terms of timing and motivation. why now? why not when trump first came in office in middle of january. i don't think ultimately this will be anything more than noise, but we have to figure that out. theoretically there could be some volatility and uncertainty over the next couple of days. >> how much of the run since the election has been optimism about trump's agenda? i ask that because if this in any way redoes optimism around the trump agenda, should that then knock the market at knees just a bit and we see some volatility creep in? >> optimism has been part of the run. make no mistake, the fact that earnings are absolutely stellar in the first quarter is a big part of it. no question, you see the confidence measur

lloyd blankfein said that his firm, goldman sachs, had "contingency plans" to move people to mainland and the day before that. it's been quite a while since we've seen any proper spells of sunshine. we will get a glimpse of that today, though always better towards northern areas. a dry and mild start to the day. there'll be quite a lot of cloud around again, particularly towards southern areas, very few breaks early on here. the best of any sunshine towards northern home counties. always cooler in the east, though, with that easterly wind. top temperatures, 15—16 degrees celsius. overnight tonight, the cloud will tend to thicken again into tomorrow morning. another mild start to the day. around nine celsius. tomorrow, a weather front close to the south coast. it will not affect us in that we are going to stay dry. but there will be some brightness, this time for southern areas of the capital. so, some sunshine around the south, cloudier the further north you are. temperatures will go up over the weekend with a change in direction on sunday bringing sunny spells just about everywhere.

in the break ahead of all the rumors of the saudi aramco ipo that might come that reportedly lloyd blankfeinbat all going on this trip as well. bankers part of the business delegation travelling to saudi arabia. maybe we'll get to see something in terms of timing and announcements on that front. >> so, the big fat cat banksters are going along with the -- really? >> according to reports, yeah. >> no longer -- >> delegation -- >> well it's -- >> part of the problem. that's different. >> if they were a big part of this ipo that would be a big -- another area of a coup that president trump could announce. but we don't know about that yet. but i think it's something that will be discussed certainly. >> all right. joining us now to talk more about this, and the effect on the defense secretary howard rubell managing director of equity research at jefferies. so all of it now, i think of you as a defense guy, howard. but you branched out. you're so good at that that they want you covering everything now, right? >> i wouldn't go that far, joe, but thank you. yes, we have a good sense of who sells wha

and then in the afternoon you'll want to see wilfred frost interview with lloyd blankfein. cnbc tomorrow. when we come back, mr. buffett back in the house. back in a moment. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock. the shlike a bald penguin. how do i look? [ laughing ] show me the billboard music awards. show me top artist. show me the top hot 100 artist. they give awards for being hot and 100 years old? we'll take 2! [ laughing ] xfinity x1 gives you exclusive access to the best of the billboard music awards just by using your voice. the billboard music awards. sunday, may 21st eight seven central only on abc. >> welcome back to "squawk box" everyone. we are live in omaha, nebraska, with berkshire hathaway's chairman an