lloyd: it's funny.now how to react to things until you live through them, but my whole life is about risk management. worrying about details. when this happened, it was so quick that i knew when i had the cat scan, i knew i had lymphoma but i didn't know what type. i had to have a biopsy. which is general surgery, and then it takes a week to figure out what you have. and then you go back and report to you. and the way these things work and the peculiarity of my being ceo of a public company, you really can't tell anybody until you tell everybody. so my wife and i could tell nobody. so during this period of time, including on the way to the hospital to get the biopsy, i had a press schedule and a televised thing with a lot of reporters. i went through and did that whole thing, went to the hospital. had the biopsy. waited five days for the report. i went to get the results of the report, and the thing was so kind of advanced and it was so mandated what the treatment would be, i literally went upstairs fro

lloyd: oh, i did. david: i've heard you say you were still swimming -- lloyd: i did. i was not built for speed. you can take one look and see that. i was built more for endurance. i did this longish race, and you are swimming. and while these other kids who started with me were out and showered and back in class by the time i was finished swimming. so i went from there to the boathouse to find another sport. david: when did you decide you wanted to be a lawyer? lloyd: when i started harvard, i was 16. in addition to being provincial, i was young. by the time i had sorted things out, i took science courses. i wasn't sure what i wanted to do. i toyed with the idea of being an academic. i was a good student, but i wasn't that good of a student. and, you know, it dawned on me that at some point, i need to pay off student loans and earn a living. so i thought i would be professional and i applied for law school and i didn't take time off in between. so i went to harvard law school. david: you went to the new york law firms right afterwards? lloyd: i got job offers at some.

lloyd: i was young. by the time i sorted things out, i was premed for a while -- i took a science course. i do not know what i wanted to do. i toyed with the idea of being an academic. i was a good student, but i was not that good of a student. -- i thought i would be a professional. a lot of people went to law school. david: he went to new york law firms? lloyd: i got job offers at some. i did not get job offers at others. vid: you roundup -- you wound up at --? lawd: it is a top-notch firm. they said we are going to move you to the corporate department. i want to be a tax lawyer. , we over hired and we do have a slot. -- we over hired and we do not have slots. how many slots you have? they said four. as of how many you have for tax? five. let me get this straight, i am fifth on your list? we do not look at it that way. i cannot come and work for you. that --s another firm david: did you practice tax law? lloyd: i did. i was put on interesting cases involving the entertainment industry. i moved for two

hearing lloyd hearing lloyd blankfein plans to step down as soon as the end of the year according to the wall street journal. he could be replaced by one of its two copresidents -- let's talk about the development here -- our guests are still with us, stephen, let me start with you. thing goldman one sachs has done wrong of their last couple of years, what would it be? >> the haven't figured out the financials, they have said they want to be like frome or walmart, year-to-year they have been hopping around what they want to be. they never came up with a great --e plan for this rule whether it is much heavier regulation of the type of business. not getting any relief from the recently passed senate bill that is helping smaller banks, but not .ecessarily goldman sacs >> there is some relief there but it is not going to get to the pre-crisis. and the rest of wall street has moved on. regulators, goldman sachs has not gone. known as theare best paint shop -- is that the case? not, one of the persistent problems is the fact they continue to pay more. they pay more because it gets is the b

to be lloyd blankfein's successor. whether they would stick around or leave the firm. >> very good question and i would imagine it would be quite a blow to whoever wasn't chosen. so they might decide to move on. that is speculation on our part. what i do think is interesting, though, given either one of them is likely to be the ceo. neither has explicit risk management and trading background david solomon has a clear investment banking background. harvey has more, but more in a sales row than a trading role so when you consider who of the wild cards, i think we've got a graphic of some that we listed before those are the heirs apparent, who would get one himself when one of the co-presidents gets reported pablo is a name that gets mentioned there as the expert trading name that would need to come up to that level. but clearly, a lot of speculation moving around now once we get to those leveling. it was interesting jim was mentioned marty. he's someone from my reporting, i know mr. blank fifein is incr pli fond of. it g

hearing lloyd hearing lloyd blankfein plans to step down as soon as the end of the year according tol street journal. he could be replaced by one of its two copresidents -- let's talk about the development here -- our guests are still with us, stephen, let me start with you. thing goldman one sachs has done wrong of their last couple of years, what would it be?

and lloyds is saying lloyds banking group is saying good progress is being made with the apportioning out this hundred million for i presume these are settlements are not admissions of liability or negligence on their part what they say to the victims is we will give you money for distress. and yet what you suffered at the time because it must have been horrible for you they are terrified of a machine that admitting guilt about it and certainly having broken so many businesses they're not about to give people their stolen goods back so you won't get an admission of any guilt mediation they said to me your businesses would have failed anyway and we don't believe you're a victim of a crime well fortunately for me thames valley police don't agree and my case is now the subject of a criminal investigation so i'm limited just what i can say about that but i can assure you that having spent seven million pounds pursuing the original crime and operation hornet thames valley police would not be spending more public money if they didn't believe they were going to get important prosecutions pol

lloyd in that deposition. you very much for being with us. >> thanks for having me. >> the office of refugee resettlement was not something high on my visibility list in terms of how government official behaves. how different is scott lloyd's behavior compared to other people who have held this job. >> it's very different. we've been investigating them with their abortion access for over a decade. in the bush administration there was concerns about government funds going to religiously affiliated shelters blocking access to abortion care. eventually we sued the obama administration for violation of separation of church and state. but scott lloyd has taken it to a new level. he's blocking young women, directly blocking them from having an abortion. this is unprecedented in terms of a government official robbing young women of their right to access abortion. >> he's a young man, an attorney, we know from his back story he was working on the trump team at hhs, he has no experience in the field. he's now making th

is frosty and could continue to be more remorse frosty but if we go back to saturday the main top lloyd the most read tabloid newspaper building here in germany they run their congratulations the blood of the of putin and a barber to wait on saturday before a vote had even been cast they also said that the script pile poisoning the attempted murder of the former spice and his daughter a year earlier that actually got people out to the polls to vote really it's a negative where you would expect it to be negative the coverage of lot of media putin's reelection. over the u.s. so your politicians already criticize putin over the election republican senator john mccain a longtime critic of the russian president accused him of trying to artificially inflate voter turnout those who put in from the democratic congressman adam schiff voted for supposedly eliminating opponents those would be reaction from n.s.a. whistleblower edward snowden who is currently living in exile in russia he tweeted that the alleged cases of voter fraud needed more attention when it's cost lives too i guess now i'm mar

mike, if ultimately lloyd blankfein is in charge of this process -- the article says lloyd blankfeins an full control of his exit here. would it be his decision to leave or pressure internally? christina powell had disgruntled some of the senior management in goldman sachs, and that was a blankfein led decision. what way with the decision be pushed year? mike: i want to call out that article that bloomberg released yesterday talking about nina thells the porch or from white house, and how she returned to goldman sachs in a senior position. after that move and that news as relayed by bloomberg, there is now a president for having -- cedent for having , go into the government, and come back in a senior position. our job is to be skeptical and cynical and ask a lot of questions. the question is why was this article published now? who spoke with whom? the way the process is supposed basedk is the ceo serves on the view of the board of directors. it is the job of the board of directors to ensure that there is inadequate secession plan -- succession plan. we included the name of gary cohn

realize that lloyd's bill annual bill for lawyers both in-house and external is over a billion pounds now when you look at their profits when you look at their turnover when you look at their assets that's a totally disproportionate amount of money to be spending with lawyers and it says a lot about the way they conduct themselves they know they know they're going to get sued by the regulators they know they're going to get fined and they factor it into the balance sheet and there's a bigger budgets than the legal opinions by the regulators said to regulate don't get me going on we don't have a regulator in this country it's called the f.c.s. in the wonderful andrew bailey who hopefully now scuppered his chances of taking over from carney but you know the f c a's toothless they're frightened of r.b.s. they're frightened of lloyds they've even said publicly we can't afford a legal action with these banks so that's something that's got to be looked at but you mentioned theory i'm so theory i'm a major global fund they looked at my case and they decided on merit they said look we know yo

really managing the whole firm under lloyd.e: thanks to allison williams, bloomberg intelligence senior analyst joining us from princeton. mark: a look at some of the business stories in the news right now. talks with dell about a reverse merger. it would be a terrible -- arguing it would be a terrible idea for the company and shareholders. re.hael dell controls vmwa he's trying to bring all the pieces of his empire under one publicly traded roof. shares of the largest bank in the middle east jumped today. almosting plans to double its foreign overshift limits -- ownership limits. plans to list shares on the -- the week of april the second according to people familiar with the matter. the online music company will deviate from decades of common practice by not issuing any new shares in the ipo. existing spotify stockholders will offer their shares to investors. the bloomberg business flash. coming up on the european close, following stocks. 35 minutes away from the end of the monday session. we are rising for the european gauge

life after lloyd. named beomon has been sold president at goldman sachs, putting him in line to replace blankfein as ceo. in biggest are still -- investors are still riding the way from friday, while keeping a close eye on treasury options. -- bill fox'socus set a price range, the valuation -- dropboxl below set a price range, the valuation well below the last rising round. abigail doolittle is with us. we are half an hour into the u.s. treasury -- into the u.s. trading session. the s&p, the nasa, and dow all modestly higher. up seven days in a row, is longest such winning streak since october of last year. the bulls are darting to take charge. we had volatility this year. now the major averages are all up. regains driven by strong payroll reports. volatility breathes volatility. let's see what is ahead. there is perhaps more to the downside. one of the big company stories today, goldman sachs. two-year look at the chart. david solomon has been named the soul president. blankfeincceed lloyd will be ste

lloyd is a team player and he wants new blood and he doesn't want to stay there too long.ll the people that will suggested are the candidates they are all qualified and i just think lloyd is afraid that you'll lose talent if you don't eventually do what's right for the bank and he's also, had it for a long time, but he is fair and wants to keep great people in order to do that and eventually, you have to say i'm done i think and that's what's going to happen. >> when we look at the share, how they're trading, investors clearly aren't frightened by his departure. the stock is up 1.5% suggesting that what you're saying is right, that they're comfortable and pleased they're going to bring talent up from below. >> well, i think lloyd has not been exactly a -- i think he has been as a person who clearly is the ultimate team player has been saying that he's never going to let this generation just get lost because he wants to be b the top guy. i think he's doing what's, what his heart tells him to do. which is to make brothers. he told me to goldman, that's what you do. if you're

harvey schwartz is the eventual successor to chief executive lloyd blankfein.e look at what it means for the firm's future. markets fluctuate after early gains investors turning cautious over president trump's tariffs and the potential for a trade war. theresa may is expected to make a statement about the nerve gas attack on her former russian spy his daughter. will she point the finger of blame at moscow? we are 30 minutes away from the end of the monday session. is the function. still up for the sixth consecutive day. byt runs october, led greece, germany, belgium and spain. currencies rise against the dollar. big week for inflation both metrics out of the u.s. and europe. a key week for china data. and cbs, your final two columns. president trump's tariffs on aluminum and steel shaking investor confidence in palladium. their netgers cutting long position in palladium futures and options by 15%. the smallest since january last year. bulls backing away amid concern that a demand for the metal will slow should the eu and countries like china retaliate against l

one or both, i assume one, will whenever lloyd's shoes it is and i am sure the firm will go on.iness with goldman sachs, you do not do business with lloyd blankfein every day, there are terrific people in the organization and elsewhere. interacts withas just about every large financial services firm in the united states and in the world. to what degree is a firm defined by its ceo and when there is an underlying culture that allows it to continue in some respects uninterrupted regardless of who is in the corner office? howard: a firm, that is a difficult question, some firms are transactional. do the deal and make the money. some firms are coulter based. -- culture based. will it retain that? putting the client first, what they call long-term greedy. if you make good decisions for the interest of the client in the short run, you will maximize your own value in the long run. i believe that and i believe that goldman sachs believes it and still does it. hand, a ceo the one puts his stamp on a company. on another hand, if it is a culture-based company, his job to perpetuate the cul

that was the chief executive of lloyd's of london. loan from looking at a voluntary agreement to help it reduce the property issue joining the likes of biron and jamie's italian, all struggling on the high street. you're watching business live. our top story — the european commission is set to announce new measures to prevent tax avoidance by the world's biggest tech companies. the new rules are expected to force the likes of apple, amazon and google to pay taxes in the country where sales are made, as opposed to the current system where companies pay taxes where they book their profits. more detail on that on our website. let's get the inside track on a new social network which is hoping to provide parents with friendship and support. mush was born when katie met co—founder, sarah hesz, in a playground on a rainy day. the pair struck up a chance friendship, but realised that technology could provide a far easier way for like—minded mums to meet one another. with us is katie massie—taylor, co—founder of mum's networking app, mush. tha

lloyd has been so out there.interesting to see how david now cozies up to both regulators and the shareholders. he is one that large institutional shareholders have not even known. david: he does have a history of 2008-2009. it could be the possibility of turning the page to start fresh. jenny: that's absolutely true. alix: look at where goldman stock has come from one lloyd blankfein took the helm. you can see the outperformance of jpmorgan, but goldman separate performance of morgan stanley. we saw morgan stanley eating goldman sachs's lunch from an equity perspective. from a jpmorgan perspective, they do have a long way to make up. dimon has not been nice to regulators in his stock has been just fine. alix: it brings into the mix of the businesses you were talking about. i thought it was interesting that harvey schwartz was the one to announce a five-year plan. when you talk to anyone out of goldman's, the first thing out of malice is markets and retail lending. jenny: it's interesting, but i will say that dav

lloyd. i will fight for the rights of these womennd and immigrants across the country and for the rule of law that ensures those rights and i will fight against those who think they are above the law and want to roll back the clock on these freedoms. i ask that my colleagues stand with these women and the rule of law and call for scott lloyd's immediate removal from office. thank you, mr. president. i yield the floor. the presiding officer: the senator from new hampshire. mrs. shaheen: mr. president, i'm pleased to join my colleague from washington to talk about the challenge that women, both here in the united states and across the world, are facing from the excesses of this administration. what we've seen time and again is the trump administration has exhibited a dangerous on session with rolling back women's reproductive rights here in the united states and abroad. just in the past 14 monthses in office, this administration has launched a multipronged and aggressive assault on women's rig

during that transition, scott lloyd was brought in as a special adviser in health and human services but he didn't have any specific job title. one day, though, somebody came

>> lloyd could be i want anding the helm of goldman sachs guy the end of the year. but according to lloyd, the reports may be premature. >>> a strong djobs report. the dow surging more than 400 points rallying hard into the close and the nasdaq hit a fresh all time high. what led the way, industrials and financials at the head of the pack energy holding its own tech continues a major run up ten percent in the past monday putting fresh money in right now. to you stick with surging tech or stick with energy or industrials. guy? just when i thought i reached the zenith of being wrong i hit another zenith. >> of being wrong. >> a pantheon -- >> of wrongness. >> the top three at least, i would say. >> in what way. >> if we had good news in the jobs number, i thought it would be bad news and the market would

but according to lloyd, the reports may be premature. >>> a strong djobs report. the dow surging more than 400 points rallying hard into the close and the nasdaq hit a fresh all time high. what led the way, industrials and financials at the head of the pack energy holding its own tech continues a major run up ten percent in the past monday putting fresh money in right now. to you stick with surging tech or stick with energy or industrials. guy? just when i thought i reached the zenith of being wrong i hit another zenith. >> of being wrong. >> a pantheon -- >> of wrongness. >> the top three at least, i would say. >> in what way. >> if we had good news in the jobs number, i thought it would be bad news and the market would go lower up 450 points. my apologies on that one however in terms of technology we have been steadfast on names that i think continue to have a moat around them red hat. all time high. lamb research, we mentioned them last night a great analyst day today. buyback. took is up 5%. adobe all the time if you want to be long amazon, a synthetic way to

>> lloyd: is the bronx better? absolutely.l take? i'm a historian. i look in the other direction. uh, i would say my crystal ball is cracked. >> white castle employee: i got four cheeseburgers coming up! >> anthony: is it the best hamburger in the world? far from it, my friends. is it even, strictly speaking, a burger? i mean, it's small and square and steamed. it can be, especially when you eat a lot of them, as one tends to, a "hate yourself in the morning" experience. but if you grew up with white castle like i did, and like handsome dick manitoba did, this connects with some deep, dinosaur part of the brain, evoking a powerful emotional response. >> handsome dick: these are a great cultural part of my childhood. we'd come here 24 hours a day. there were guys on their dates. there was a bunch of punk rock kids. so along with that potpourri of humanity i just described, you had these guys from the mental institution. >> anthony: ah, that's community for ya. >> handsome dick: that was the bronx. that was the bronx, man. it wa

but he paid by lloyds. i'm just saying what he says.y the —— in some cases their lives. i have been humbled by the response. this is not just about lloyds, it is the whole financial sector, people who have lost everything and they don't have the litigation funding that i have secured. it was a massive moment for me when one of the biggest funders in the world said we have looked at your case and on merit, we will fund it. i have seen some estimates that you're worth £75 million, is that true? no. what are you worth, do you think? i've no idea, at the until came until will be wi area wi are a battle our nature “spur" w with this battle against lloyds? the moment i realised ”f: i with this battle against lloyds? the moment i realised if? i was the moment i realised that i was the victim, of criminals, then i was able to put positive spin on it. and ido able to put positive spin on it. and i do have the facts now. i've done a lot of work with people like lord cromwell, vince cable, the appg on this. unfortunately i do know an awful lots th

lloyd blankfein will step down as ceo on his timetable.l probably be up to number two to grow the ferment beyond what we know of it now. -- the firm beyond what we know what it now. david: how are we seeing wall street react? david has in the last 15 months been working hard to meet partners he has not met before, investors he did not know, securities division clients. folks he did not know as a banking head. investors he did not i think it is going to be pretty much like what harvey schwartz laid out in september. they have a $5 billion growth plan. $2 billion will be tied to lending. and sort of getting this online lender market up to capacity. any idea when mr. blankfein could leave in the next five years? dakin: yes. [laughter] it is a good question. twoould be in the next years. maybe we believe the "wall street journal." that also quite possible it could be by the end of the year. shery: thank you so much for that. bell on goldman sachs. next, we will be talking u.s. strategy with north korea. this is bloomberg. ♪ david: this is "blo

but eventually, the time is going to come for lloyd to move on he's 63. in the position for 12 years. and an important part of being in that position at goldman is kind of taking on the responsibility to manage a transition and kind of bring the next management team up. and i think, you know, we're potentially looking at a decent time to make a change. i mean, last time i talked to lloyd was end of late 2017, and i got really no indication that he was thinking of it. he actually seemed more energized than i had seen him in a while. but you know, if the volatility keeps up, 2018 is off to a good start. it could be a good year to kind of leave on a high note, and he's got a couple of kind of potential replacements or heirs in place who are at the right age and it's kind of the right time to do it. as much as i wouldn't have said i was expecting it, the more i think about it, you know, end of 2018, some time in 2019, might make some sense. bigger picture for goldman, i don't think it would change a whole lot. it's run by kind of committee as much as one pers

well, lloyd's of london is one of the oldest financial institutions in the city.about brexit, and i asked her about the plans to move a subsidiary to brussels. over 80% of lloyd's business comes from outside the uk, and about 10% of that comes from the eu 27. so we've got a whole load of business that will continue to be traded in london, as it always has done. the reason we are having to set up a subsidiary in brussels is to service that piece of the business that is just coming from the eu 27, and that's about 4 billion euros of business, and we will set up a legal entity in brussels and we will have staff there, but a lot of the activity and expertise will still continue to sit in london. so the busy, bustling underrating in the trading room that you see behind me, that will still be in existence and it will be a key part of lloyd's business model going forwards. what does this mean in terms ofjobs, not just at lloyds but in the insurance market? how big a shift could it be from the uk to the continent in terms ofjob from the uk to the continent in terms of job

lloyd blankfein adopt the business model to fit the new type of environment.ronically, you know, if you believe that he's going now, and he's flirted with leaving since 2011. i've been reporting about this for a long time, and again in december 2017, may announce this year. if you look at it now, the markets are basically starting to correspond with the type of trading and business model that goldman sachs does well. volatility is picking up. that's usually good for goldman sachs. if you believe we're heading into a high-volatility environment, that's good for the business model that lloyd blankfein put together. who knows where this is going? i want to hear from the company. flirting with leaving since 2011. we've been reporting for a while now that this may be the year he finally announces. >> this is a dow component. the dow gaining 416 points. it's obviously a trade laden index. looking strong on this moment. the gain of 420. this is session highs, folks. >> volatility has been picking up lately, right? liz: actually, i think we had a stat earlier. charlie

of lloyd's.have an exceptionally difficult year, is that to set us up for a much better and stronger 2018, inga? inga: loids is in the shurps business and here to pay out when things go wrong and last year was one of their costliest years for the last decade and that's what put the market into a loss. it's very, very difficult to predict when those catastrophes will happen and not something we can predict for 2018 at all. we can quantify what the expose yourself or but not when these events are going to happen. i'm pleased to say lloyd's stepped up and known what it does best which is put people back on their feet when disaster strikes, whether it's businesses, communities or all those individuals whose businesses rely on being able to be up and running. eden throughout with the worst disasters. guy: you talk about a bad year, i think it was the first time in six years the market hosted a loss. but talk to me about the trend that underlies that. are we seeing more natural disasters coming through

was a trader, right >> i mean, a goldman sachs guy >> lloyd was a lawyer. to goldman through the jay aaron acquisition. gold, silver harvey, as you know, has not really been out front as much. has not been in the media as nearly as much don't forget lloyd -- he was plucked -- remember the two johns? >> yes >> anointed him as potential successors and then out of the blue came lloyd. out of the blue choice is not impossible >> let me ask you a different question this company has been on a particular path. they've been trying to sort of shift to their business. does it shift any different way for these folks? >> i think what lloyd has been wrestling with for the past decade is whether the changes we've seen in the market have been cyclical or structural? right. i'm sure you heard this argument at morgan stanley, they decided they were structural and decided to get into the wealth management business at goldman sachs decided it was cyclical they're going to stick to their knitting and in this market, goldman sachs is once again make a lot of money and lloyd is

results lloyd's lawyer anticipated during a press conference last month.james a.h.trooper isaiah lloyd's attorney:"we anticipate that there will be no administrative problems and that he'll be returned to duty in a very near future."the campbell county d-a's office reviewed this footage on their own.that review showed that lloyd's actions can't be criminally charged.but -- that he reviews state training and safety orders so it doesn't happen again.nats still ahead at 8 a driver fleeing police gets stopped by his own car. the major fail was all caught on camera. also - he didn't think it was all that special and sold it to a private buyer. the clues as to the worth of this rare copy of the declaration of independence. (steve) and next. a dramatic 9-1-1 call as a woman screams for help. after a man latches onto her car on the highway. ♪ ♪ hello? hello! ♪ hello? hello. hello? hello. ♪ hello, i got your package. you can just leave it, thanks. ♪ ♪ hello? can i help you? hello! hello? hello!!! hello hello!!! ♪ (catherine) new tonight at 8. a wild ride for a woman in flori

solomon to eventually succeed lloyd blankfein.pproval of wall street, by naming solomon full president. le president. solomon ran the part of the bank that grew the most for a decade before becoming coo 15 month ago. goldman shares rose to a new high on the news. general electric paid more than $8 million in his final month even as the company faced a tumult was period and it's one of the 26 year history. he stepped down and put the board. shares were already under pressure but fell hard after he left. new ceo john flannery flashed the dividend and replaced top managers and launched deep cost cuts. the fashion designer who dressed jackie kennedy and audrey hepburn has died at the age of 91. he did found the house in 1952 and turned it into an icon or french style and glamour during the prosperous decades are in world war ii. the company has paid tribute to "a gentleman who symbolized parisian chic and elegance for more than half a century." powered by more than 2700 journalists and analysts in more than 120 countries, i am ramy in

composer andrew lloyd webber on his new memoir, "unmasked" and huh he transformed evita, phantom and joseph into a global phenomenon. >>> good evening, everyone, welcome to the program. i am christiane amanpour in london. the united states is willing to go hard either way for negotiations for peace or confrontation over north korean nuclears, u.s. senator tammy duckworth has returned from the assessment, we are closer to war than anybody thinks. duckworth knows all to well the cost of war. her family served the country going back to the american revolution. and she herself fought in iraq, where an insurgent attack caused her to lose both legs, and partial use of one arm. duckworths a woman of many firsts. the first member of congress born in thailand. first asian-american to represent illinois. first female double amputee of the iraq war. and soon, she'll make history again, as the first sitting senator to give birth. and welcome to the program. >> thank you, it's good to be on. >> really that is some introduction. that's nothing to do with my word and everything to do with, all of y

reiterated it information lloyd's hands.ght the decision -- changed the discussion from who could it be next, ended the potential in fighting it's clear david solomon will be the person that takes over the timing isn't decided clearly, that's come this debate that sparked friday afriday it has come as a cost. at 53 and conversations over the last couple months with analyst s, he is more employable to solomon. solomon can grow through the goldman sachs ranks. it would have been harder for him to go elsewhere. i'm sure harvey schwartz will be in huge demand. >> an investment banker is potentially ascending the thrown >> i think as jim was saying, clearly, that doesn't mean they will shut down other parts of the business far from it. as mike was saying this morning, that's the part of the business that has seen revenues grow. the rest have fallen >> trading >> or trading and others have declined. >> it's a reflection to a certain extent as to those that are ascending as to those that are not. we have had traders running the fir

and lloyds is saying lloyds banking group is saying good progress is being made with the apportioning out this hundred million for i presume these are settlements and not admissions of liability or negligence on their books what they say to the victims is we will give you money for distress. and yet what you suffered at the time because it must have been horrible for you they are terrified of a machine that admitting guilt about it and certainly having broken so many businesses they're not about to give people their stolen goods back so you won't get an admission of any guilt mediation they said to me your businesses would have failed anyway and we don't believe you're a victim of a crime well fortunately for me thames valley police don't agree and my case is now the subject of a criminal investigation so i'm limited just what i can say about that but i can assure you that having spent seven million pounds pursuing the original crime and operation hornet thames valley police would not be spending more public money if they didn't believe they were going to get important prosecutions th

erik: let's also point out that lloyd blankfein is 63 years old. becoming trendy on wall street to say you're going to retire before your 65. -- you are 65. do you have any idea who the last wall street ceo was who stayed on longer than 65? alix: no. he knows everything. erik: i had to check. i thought i knew. i was wrong. turns out it was jimmy kane from bear stearns. one bear stearns burst into flames, jimmy kane was 74 years old. beyond jimmy kane, sandy weil was 70 when he left citigroup. rare.exceedingly leaves before 65. beforest everyone leaves 65. sometimes the board just decides they don't want to much greater around the table. -- gray hair around the table. here is a quote from james had in conversation we 2017. leadership in this organization is probably the most important thing to focus on. too often on wall street, leadership changes happen around events. something goes back, the ceo steps down. they are very event driven. that is the scenario every wall street ceo wants to avoid. unfortunately, many of them haven't. the victim of his

lloyd blankfein will step down in 2019.e the 150 year anniversary of the creation of goldman sachs. while goldman had a tough year last year, fourth quarter was the worst trading quarter since the financial crisis, 2017 was the worst trading your since the financial crisis, the stock prices underperformed, and there have been questions about the strategy. having said that, we think goldman is poised to output warm. and as a result, lloyd blankfein ontobe passing the baton david solomon from a standpoint of relative strength. >> what are some challenges now? he has decades of experience. challenges theme trading side of things? david solomon's strength is on the investment said that on the investment side. revenue of goldman sachs were down 20%. he has headed the area with the growth --t with good with good growth. as you point out, the challenge is with trading. goldman sachs has been working class with their growth in trading. the challenge and opportunity is for goldman sachs to better leverage those corporate relationshi

. >> there's also some big banks news lloyd blankfein planning to exit goldman's by the end of the yearertha coombs at the nasdaq, which today hit an all-time high in trading for the first time in january. bob pisani is here on the floor with this more than 400-point rally. was it all the jobs report, bob? >> the important thing is, yes, it's about the jobs report throw in a little news about north korea. at least they're in negotiations and, of course, not as bad as we thought on the whole tariff issue. it's back to cyclicals we're in the growth area once again, so there you go the stock to watch all this week, cyclicals, up 1% for boeing that's about 30 points the dow jones industrial average, another classic cyclical we've been watching, growth names, caterpillar up four bucks, 2.6% the banks are doing a little better that's a very, very good sign overall because even though we had some wage growth, it wasn't high enough to close any concern to the bond market banks are up and even companies like lennar and poulty the home builders are up finally, you see some smaller companies -- co

i would like to start with lloyd. origins ofabout the -- talk a bit about the origins of sesame street. overview of the state of our education in america at that time. i think it would be really useful if you would put it -- sesame street in the context of those times and tell us about what led to its creation. lloyd: those of you expecting a low, i am not elmo. elmo.o, i am not you have to re-create, in your .inds i am going to list them and i'm going to read the list. television may have given senator john f. kennedy the average he needed to defeat vice president nixon in the first, televised presidential debate. kennedy wins the election by a out ofof 113,000 votes 69 million votes cast. 1961, fcc chairman makes his famous speech declaring that television is a vast wasteland. 1962, 90% of americans own a television set. abc begins broadcasting in color. the federal government funds public broadcasting through the education television facilities act. president kennedy federalizing alabama's national guard and orders

lloyd dean from dignity. thank you for your partnership. this is a dignity hospital, we're very proud to be here today to celebrate. mark lair from ucsf, your support. president breed, a leader on the issue as well on the board of supervisors. this has been a collaborative effort. we would not be here today without everybody standing behind me, but we would not be here without the vision of ed lee. i'm honored to be here today. let's make no mistake. this is one step in the right direction in solving mental illness here in san francisco and work canning hard to get people off the streets, but let me introduce the woman had made it happen, barbara garcia. [applause] good morning, everyone. barbara garcia, but behind me is the incredible staff. behind me are people who did the heavy lifting. this is such an incredible part of over 115 beds that the department has opened up in the last year. so this is a really important program because it does have the highest level of care next to an acute hospital. but it also has the opportunity to provide

solomon was tapped by lloyd going find. people say -- lloyd blankfein.came from -- he was more risk-averse. you need both risk aversion and profitability. mr. blind find went with profitability as opposed to that aversion. haidi: when it comes to goldman's sometimes controversial relationships with isng business in china, there anything we can glean with what their future strategy might be under david solomon? ramy: it is early days. let's be honest, he is the heir apparent, but we don't know if he is the heir. with that said, we do remember what happened in early november of last year, when lloyd blankfein went with donald trump to china. he was the only ceo from a financial to go. , after that, he came out with this video say, listen, the u.s.-china relationship is the most important relationship in the world of any country. of course, he doesn't have to tell us that. we already know that. but in terms of the numbers come in terms of $5 billion from goldman sachs into an investment chinarship with china's investment corporation, there is solomon,ea whe

sian lloyd, bbc news, raf valley.e russian diplomats and their families have left the uk after they were expelled in the wake of the salisbury poisoning attack. they left on a plane bound for moscow this afternoon, as theresa may chaired a meeting of the national security council. ministers have again accused russia of involvement in the attempted murder of former spy sergei skripal and his daughter yulia. this report from our diplomatic correspondent james landale contains some flashing images. it was dubbed ‘expulsion day‘ — the moment russian diplomats and their families began the long journey home from their embassy in london, sent packing after their government was blamed by britain for the nerve agent attack in salisbury. those staying behind gathered outside to hug their colleagues, wave goodbye, and yes, shed the odd tear, as the long cavalcade of coaches and cars left for the airport. in a tweet, the russian ambassador bade farewell to his colleagues, after what he called ‘the hostile move of the uk governmen

somehow, there always seems to be an andrew lloyd webber musical, fan toms, to dream coats. how did he conquer this world? this latest school of rock, is yet another hit for the man who has found inspiration in everything from the argentina first lady, eva peron to the cat poems of t.s. eliot. ♪ memory turn your face to the moonlight ♪ ♪ let your memory lead you ♪ open up and enter in >> so, with that he has known the heights of suck scess. depths of despair as well. all recounted in his memoir "unmasked." it tells half of his story. i've got the rest of it when he came here off to the studio recently. andrew lloyd webber welcome to the program. >> thank you very much. >> so you have done umpteen musicals. in fact, you made history earlier this year, by having four on at the same time on broadway. >> yeah. i mean, unbelievable thing for me. i was always a huge fan of rogers and hammerstein. it is overwhelming really. >> which is your favorite ever musical. ever? >> completely impossible to answer that. i mean, i was lucky, when i was a kid. i saw four great musicals. my fair

lloyd blankfein took us through the crisis.e is one of the great leaders on wall street, but pressured to think about his succession plan. joel: we don't know the nuances of this. it started with a tweet from "the wall street journal" and then chaos unfolded, which culminated with a breaking news announcement monday that one of the two heirs apparent at goldman was out of the picture, shorts. solomon, his counterpart, has become the heir of parent. that whole story is the succession passage -- package because of the bike -- backdrop. now weed about buyside, can talk about sell side. who is next in charge is a big deal. jason: we heard about what is happening from goldman and jpmorgan. >> two of the most fascinating guys on wall street. >> leaders of the preeminent banks, the two preeminent global banks. so many parallels between them. they started in 2006 within two months of each other. nobody knows this, but dimon had a chance to work with goldman sachs at the beginning of his career. they rose to prominence, both new yorkers

sian lloyd, bbc news, maesteg. now it's time for meet the author.orrison has packed a lot into his career. a former newspaper literary editor, he became a full—time writer in 1995 and has gone on to publish award—winning novels, poetry and nonfiction. he's probably best known for his bestselling memoir, "and when did you last see your father?", which was turned into a film starring colin firth. so, perhaps it is entirely fitting that his latest novel is about writers. the executor follows a man who becomes the literary executor of an old friend and poet, and the moral dilemmas he faces when he uncovers unpublished and potentially explosive material. blake morrison, the executor raises a whole host of ethical issues, not least of which is what's more important, the right to privacy or the right to freedom of expression? what was the starting point for the novel? i suppose i have been very conscious in recent years of a lot of controversies about writers publishing stuff that other people perhaps, members of the family, feel is painful, exposing, that

de-lloyd, they're multinational. they scoped the project large, so when they showed up, they filled the firm with their staff. mosaic is a boutique firm, they're very agile, and they're able to scale and focus on exactly what is needed, and they did that in martheir presentation and proposal, so they came in much lower than the other companies that were willing to provide a lot more than what we were asking for. >> okay. thank you. next question is are there certain standards that we required in the solicitation for them to get us to? i know there are iso standards and this standards and dhs standards. did we specifically what level of security they need to achieve? >> yes. we did. we had a laundry list in the rfp and in the contract that they will meet, and it sort of became alphabet soup. i can ask isaac or steve -- >> i don't need to know. i just want to know was there some standards that were required, assurances that were required, certain standards be in place. the next question is having the way the solicitati