an early trump supporter but the nomination david malpass has caused some woi’i’y nomination david malpass will try to diminish the role of the world bank, and that is because he has set in the past that international for natural institutions are corrupt, inefficient, spend too much money, and are generally rather useless. and that might make him an odd choice to run one of the biggest international financial institutions in the world, but the white house on wednesday really moved to counter that perception, saying that mr malpass is committed to modernising the bank and making sure there is more accountability by borrowers.- treasury, i'm proud to say that underyour treasury, i'm proud to say that under your administration, mr president, we negotiated a major capital increase and reform package for the world bank, with shareholders and dedicated staff, there is a great opportunity now to implement this construct of reforms that will lead to best growth and greater prosperity. the executive board of the world bank board makes the final decision on the presidency, but traditionally, the uni

on was a, president trump dominated -- nominated david malpass. he currently serves as treasury secretary for international affairs. you must be approved by the world bank's 12 member executive board. president trump: high, everybody. everybody. we are dealing with a very special man, a very special person. it is my pleasure to announce my choice for the next president of the world bank, mr. david malpass. i have known david for a long time. very extraordinary man. with us today, are his wife, adele, as all of his -- as well as his three children. i want to thank you all for being here and i want to congratulate you will. thank you very much. [applause] where please to be joined today by secretary steven mnuchin, wilbur ross, alex acosta, ben carson, as all --ambassador bob lighthizer, as well as ambassador bob lighthizer. how are you doing, bob? how are you doing, china bob? it is going well. and treasurer jovita, thank you all for being here. and, ivanka trump, and kellyanne, and a lot of great people. of theng the resignation former president o

david malpass. i have known david for a long time. very extraordinary man. with us today are david's wife, adele, as well as his three children. i want to thank you all for being here and i want to congratulate you all. thank you very much. [applause] president trump: we're pleased to be joined today by secretary steven mnuchin, wilbur ross, alex acosta, ben carson, as well as ambassador bob lighthizer. how are you doing, bob? how are you doing with china, bob? it is going well. linda mcmannon, and treasurer and thank you all for being here. and, ivanka trump, and kellyanne, and a lot of great people. following the resignation of the former president of the world bank, dr. jim yong kim, i launched a broad search for a replacement. i knew that david was the right person to take this incredibly important job. in addition to his current service overseeing the imf and actually overseeing the world bank as undersecretary of international affairs at the department of the treasury, david brings 40 years of experience in economics, finance, government, and foreign p

david malpass, and i've known david for a long time.extraordinary man with us today are david's wife, ade adele, as well as his three children, robert, emily, julia and i want to thank you all for being here and i want to congratulate you all thank you. we're also pleased to be joined today by secretary steven mnuchin. wilbur ross, alex acosta, ben carson, bob lighthauser, negotiating with china in how you doing? give me some breaking news it's going well. administrator linda mcmahan and treasurer, jovita karanza. thank you all for being here and ivanka trump, incase anybody missed and kellyanne and a lot of great people. following the resignation of former president of the world bank, dr. jim young kim, i launched a broad search for a replacement after interviewing many very qualified candidates i knew that david was the right person to take this incredibly important job. in addition to his current service, overseeing the imf and actually overseeing the world bank as under secretary of international affairs at the department of the tre

reports suggesting it will potentially be treasury official david malpass. a very vocal critic of the world bank. rob, going back to emerging markets, are investors pricing in the fact that not only could we see a protracted trade war, but the dynamic between the u.s. and china has fundamentally shifted? that this will be a competitive dynamic going forward? >> it will be a competitive dynamic, it always has been, and will be. competition is normal in the global macroeconomy. i like to play the long game. roll the clock forward 10 years, will there still be a trade war between the u.s. and china? i don't think so. will the geopolitical concerns of today still be there 10 years from now? no, but there will be other ones. the troubles that cause people to selloff emerging markets so that they performed in a very disappointing way this year, actually, very few of them are likely to be in place in 10 years. the result is it is entirely reasonable for emerging market to reboundean revert back to historic norms, which for emerging market is about 17 times instead

president trump is set to nominate david malpass today, a man who has criticised the institution, calling it inefficient. and on the markets: it is lunar new year. many are not working and are on holiday. many markets are closed. these two are open and slightly higher. president trump has delivered one of the cornerstones of the us political calendar — the state of the union speech. it is a wide reaching address to the joint houses of congress where the president sets out his policy agenda. he started with the economy. the huge audience is listening to what he has to say. injust over two what he has to say. in just over two years since the election, we have launched an unprecedented economic boom, a boom that has rarely been seen before. there has been nothing like it. we have created by 20 million newjobs. and, importantly, added 600,000 new manufacturing jobs —— 5.3 million. something they said was impossible to do. the fact is, we are just getting started. there was more added to that. let's get more on this with michelle fleury who's in new york. this is a huge audience for him. an im

mr malpass has criticised the bank's starting concerns he will reduce the role if he is appointed.ass was a senior economic fire to donald trump in the 2016 presidential campaign, so in the 2016 presidential campaign, so and early donald trump supporter, but the nomination of has caused worry that he will try to diminish the role of the world bank. that is because he has said in the past that international financial institutions are corrupt, inefficient, spend too much money and are generally rather useless and that might make him an odd choice to run one of the biggest financial institutions in the world. but the white house on wednesday really moved to counter that perception, saying that mr malpass is committed to modernising the bank and making sure there is more accountability by borrowers. the executive board of the world bank makes the final decision on who will become president, but traditionally the united states has a lot of influence on the selection process. the bank said it will make its decision by april. the us treasury secretary steven mnuchin confirmed he and other

the latter part, because there is criticism, coming as it relates to selection of malpass, malpass himselftical of the world bank in the past. critical of multilateral organizations as well. the u.s. has a 16% voting stake when it comes to the head of the world bank. normally, whoever the u.s. puts forth ends up being elevated to the top post at the world bank. we'll see, probably in april, whether or not that is the case this time around as some might have a little bit after, a little bit of a weary eye as it comes to malpass, he has been skeptical of the world bank in the past. neil? neil: blake, thank you very much. blake burman at the white house of the as he indicated the treasury serb tear, president's point man, steve mnuchin and robert lighthizer are headed to china next week. we are told this paves the way for this week or week after president sits down with xi xinping. that is after he meets with the north korean leader in vietnam. to wall street journal at large host, gerry baker. first of all, expectations game with these talks, what are you thinking? >> both sides want to get

david malpass is here. treating advanced lung cancer.th chemotherapy really break through barriers that we had not too many years ago. (avo) another tru story with keytruda. in a clinical trial, significantly more patients lived longer and saw their tumors shrink than on chemotherapy alone. (dr. kloecker) it's changed my approach to treating patients. (avo) keytruda may be used with certain chemotherapies as your first treatment if you have advanced nonsquamous, non-small cell lung cancer and you do not have an abnormal "egfr" or "alk" gene. keytruda helps your immune system fight cancer, but can also cause your immune system to attack healthy parts of your body. this can happen during or after treatment and may be severe and lead to death. see your doctor right away if you have new or worse cough, chest pain, shortness of breath, diarrhea, severe stomach pain or tenderness, nausea or vomiting, rapid heartbeat, increased hunger or thirst, constipation, dizziness or fainting, changes in urine or eyesight, muscle pain or weakness, joint pa

despite his criticisms, through his role at the treasury department, malpass significantly increasedh conditions attached. so will countries coalesce around the american pick or will they try and put forward their own candidate? the latter option seems unlikely, but we will be sure next week when nominations for a new president close. samir hussein, bbc news, new york. what other business stories has the media been taking an interest in? simon french from panmure gordon joins us again to discuss. we will start off with the value of the pound, how much different it is across the country. a lot of britons will recognise this story, as your wages, your money goes further in the north of england than in the south of england. what's interesting about this is it tries to quantify that, it goes 20% further in the north rather than south. to some extent that is being seen as the inward migration decisions of people to leave the south—east where they might geta to leave the south—east where they might get a higher nominal wage but it doesn't go as far. if the cost of living, isn't it? yes, so

david malpass is here. "trish regan primetime" begins right now. tonight, my exclusive interview with our secretary of state. he sits down with me as trouble escalates in venezuela. the american government sending aid to venezuela. but oceanist quick oceanist --, dictator refusing aid. you have a nation that's starving where 90% of the people live in poverty. they are living on less than $3 a day. a nation where people are hungry enough to loot food trucks as you see there in this exclusive video. a nation that's so strapped for cash that its hospitals are unsanitary. this is also exclusive video of a hospital in venezuela. this is why people in venezuela are rising up. they want a new start, a new opportunity. yet the vice president of venezuela, delcy rodriguez tells me the maduro regime isn't going anywhere. sources tell me we are working closely with neighboring countries in the region because we heard the people's cries for help. we understand the maduro threat to our region and we want to help. watch my interview with secretary of state mike

you do not believe that malpass is the best kaept for the job.y. >> reporter: i think that when you have somebody that is really not for multi-lateralism. is perceived to be someone that wants america to pull back, wants the world to be more collection of nations rather than one global community, i think that's a tough sell in an institution like this which is about nothing if not multi-lateralism. there are also questions, frankly about, you know, his economic jobs. yes, this is someone who's had a long career on wall street and now in government, but, you know, malpass missing the housing crisis. there are a number of other criticisms that have come out and at a time like this, particularly when america needs to be banding together if we'll have a fight with china over trade, over technology, we need to be kind of looping in a lot of other countries and saying, look, we're in this together. he's a contentious candidate. >> and so what's the global reaction to this? >> reporter: not great. what i'm hearing certainly from a number of european lea

"the wall street journal" just said today in an editorial, that david malpass is an excellent choice, which is true. america is the largest contributor to the world bank giving it over $1 billion every year my administration has made it a top priority to ensure that u.s. taxpayers dollars are spent effectively and wisely serve american interests and depe fend american values david has been a strong advocate for accountability at the world bank for a long time he has fought to ensure financing is focused on the places and projects that truly need assistance including people living in extreme poverty. david was also critical of the creation of the world bank's women's entrepreneur and you know about the world bank's women's entrepreneur finance initiatives and he will make it a priority to continue empowering women all across the globe. it's very important thing and a very important part if it's properly handled done by the world bank i am certain that there could be no better candidate to lead the world bank than david and we want to just thank david he's been with me for a long time h

trump's announcement of longtime treasury official david malpass as his world bank pick on wednesday was widely expected because america is the largest contributor to the world bank giving it over one billion dollars every year my administration has made it a top priority to ensure that u.s. taxpayers dollars are spent effectively and wisely serve american interests and defend american values david has been a strong advocate for accountability at the world bank for a long time. the decision to choose mouth parts is being interpreted as a sign the trumpet ministration wants to rein in the financial institution. has been a consistent critic of the world bank and he is expected to try and reduce its role . it is a longstanding convention for the u.s. president to nominate the head of the world bank it is not yet clear if other countries will propose alternatives to challenge my pass. japan softbank group has posted record net profits for the first three quarters of the financial year the company's fortunes have been driven by investment in several tech firms c.e.o. masayoshi song told r

trump's announcement of longtime treasury official david malpass as world bank pick on wednesday was widely expected because america is the largest contributor to the world bank giving it over one billion dollars every year my administration has made a top priority to ensure that u.s. taxpayers dollars are spent effectively and wisely serve american interests and defend american values david has been a strong advocate for accountability at the world bank for a long time. the decision to choose mild parts is being interpreted as a sign the trumpet ministration wants to rein in the financial institution. has been a consistent critic of the world bank and he is expected to try and reduce its role it is a longstanding convention for the u.s. president to nominate the head of the world bank it is not correct here if other countries will propose alternatives to challenge mileposts and germany's antitrust watchdog may be cracking down on facebook with a decision on district in the social media giants ability to collect data in the country the decision is expected in just a few hours authori

also this hour, president trump has — as expected — nominated loyalist david malpass, an outspoken critic malpass is a senior us treasury department official and served as an economic adviser during donald trump's election campaign. he's promised pro—growth reforms. the appointment will have to be approved by the world bank's executive board. a body has been recovered from the wreckage of the plane which crashed into the english channel with the cardiff city footballer emiliano sala and the pilot david ibbotson on board. the air accidents investigation branch said the operation was carried out in as dignified a way as possible and the remains would be passed into the care of a coroner. the bodies of about 20,000 dead guillemots have been recovered from the beaches of north holland in recent days. experts are investigating whether the deaths could be connected to almost 300 containers that fell off a ship during a january storm. scientists are planning a mass autopsy to shed more light on the mystery. the leader of the taliban's peace negotiations with the us has told the bbc his group isn

despite his criticisms, through his role at the treasury department, malpass significantly increasedtribution to the world bank to $13 billion, albeit with conditions attached. the world bank is committed to meaningful reforms to focus lending on countries in need and agreed to other reforms that would enhance accountability. so will countries coalesce around the american tech, or will they try to put forward their own candidate? —— pick. the latter option seems unlikely but we will know for sure next week when nominations for a new president close. what you see here are called president close. what you see here a re called nyo nya president close. what you see here are called nyonya kuehs. really delicious delicacies and deserts. a traditional treat found in singapore and malaysia, but automation, rising competition in the labour—intensive nature of making these cakes means the number of traditional bakeries is dwindling. but one nyonya kuehs maker is determined to keep this dying tradition alive. making kueh purely by hand is not a profitable trade. i am not the last one to make ku

we will speak to david malpass. that's coming up next.loomberg. ♪ alix: this is bloomberg daybreak. a weaker european commission report out of europe and the bank of england governor sounding more dovish on u.k. growth. dow jones futures off by 1.40. -- by 140. the european commission cut its growth forecast 1.2%. in other asset classes it was a stronger dollar, now it is more mixed. sterling now flat, resuming some of its upside. it was much lower, down .3%, euro-dollar down .2 percent. the jobless claim higher-than-expected. after last week, when we saw that big move upwards, you have to wait and see. it is not smooth sailing. david: it is actually lower than it was last month, what higher than was expected. with the government shutdown, we know with the actual government shutdown workers would be affected. with the contractors it is a secondary effect. the risk off permeating. david: we will turn to the world bank. it has been one of the pillars of the international economic order since it was created in the wake of world war ii. presi

. >> i'm going to give a hit, paul, and hopefully not a future miss to david malpass who donald trumpass is superbly qualified to lead and even reform the world bank that tries to help developing countries, but the bureaucracy has shown itself capable of driving out reformers before. this may be mission impossible but hopefully, david malpass, like the tv show, will actually win this one. paul: well, good luck to him. all right. and remember, if you have your own hit or miss, tweet it to us @jer on nfc. finish fnc. hope to see you right here next stuck in -- [inaudible] have a good weekend. ♪ >> from the fox studios in new york city, this is maria bartiromo's "wall street." maria: happy weekend to you. welcome to the program that analyzes the week that was and helps position you for the week ahead. i'm maria bartiromo. coming up in just a few moments, two fantastic guests this weekend for you. technology investor, former mark zuckerberg mentor, roger mcthatmy is with me, and the dallas federal reserve president and ceo robert kaplan giving us a sense of where we are in the economic mo

. >> i'm going to give a hit, paul, and hopefully not a future miss to david malpass who donald trumpified to lead and even reform the world bank that tries to help developing countries, but the bureaucracy has shown itself capable of driving out reformers before. this may be mission impossible but hopefully, david malpass, like the tv show, will actually win this one. paul: well, good luck to him. all right. and remember, if you have your own hit or miss, tweet it to us @jer on nfc. finish fnc. hope to see you right here next week >> a tv hitmaker loves animals. >> he turned that creativity on animal rights, and it was unbelievable. >> one dog he rescues is off-the-charts dangerous. >> if it's a scale from 1 to 10, columbo's a 12. >> when the hollywood owner dies, columbo becomes their strange -- and expensive -- inheritance. >> acupuncture for a dog? i know we're in los angeles, but really? [ dog growls ] >> is it all worth it? >> your kids could get hurt. you're willing to take the risk. >> we made a commitment to healing dogs and showing other families how to do it. >> welcome to

. >> i'm going to give a hit, paul, and hopefully not a future miss to david malpass who donald trump nominated to be president of the world bank. now, mr. malpass is superbly qualified to lead and even reform the world bank that tries to help developing countries, but the bureaucracy has shown itself capable of driving out reformers before. this may be mission impossible but hopefully, david malpass, like the tv show, will actually win this one. paul: well, good luck to him. all right. and remember, if you have your own hit or miss, tweet it to us @jer on nfc. finish fnc. hope to see you right here next week. thanks for watching. ♪ ♪ >> the commonwealth of virginia in the midst of a political crisis. governor ralph northam speaking out in his first interview today since a racist photo surfaced last week, telling "the washington post" he wants to focus the remainder of his term on, quote, racial equity. meantime, lieutenant governor justin fairfax under immense scrutiny after a second woman came toward -- forward to accuse him of sexual assault. hello, everyone, i'm arthel neville. er

the wallstreet journal just said today in a editorial that david malpass is a excellent choice. which is true. america is the largest contributor to the world bank giving it over one billion dollars every year. my administration has made it a top priority to insure that u.s. taxpayer's dollars are spect effectively and wisely, serve american interests and american values. david has been a advocate at the world bank for a long time. he is to insure financing is focused on the places and projects that node it. including people, living and extreme poverty. david was critical of the world bank's women entrepreneur. you know about the world bank's women entrepreneur finance initiatives. will he make it a priority to continue empowering women across the globe. it's very important thing. it's a very important part if it's properly handled, done by the world bank. i'm certain there could be no better candidate to lead the world bank than david. we want to thank david. he has been with me for a long time. he has been a supporter for a long time. supporter in a financial sense, even befor

i want to introduce to the media, say a few words, david malpass. [applause] >> thank you, thank you so very much president trump for your confidence selecting me to lead the world bank, the world's premier development institution. it is an incredible honor. i'd like to also thank my family that's here today, adele and my terrific children. i'd like to acknowledge all my friends and colleagues here, everyone, please, and especially secretary mnuchin, larry kudlow and ivanka trump. working with secretary mnuchin at treasury i'm proud to say under your administration, mr. president, we negotiated a major capital increase and reform package for the world bank. with shareholders and dedicated staff, there is a great opportunity now to implement these constructive reforms that will lead to faster growth, and greater prosperity. i want to also note that a key goal will be to insure that women achieve full participation in developing economies. i know ivanka has been a strong leader on women's empowerment. i look forward to continuing our work together on

. >> i'm going to give a hit, paul, and hopefully not a future miss to david malpass who donald trumpqualified to lead and even reform the world bank that tries to help developing countries, but the bureaucracy has shown itself capable of driving out reformers before. this may be mission impossible but hopefully, david malpass, like the tv show, will actually win this one. paul: well, good luck to him. all right. and remember, if you have your own hit or miss, tweet it to us @jer on nfc. finish fnc. hope to see you right here next ♪ ♪ lou: good evening, everyone. president trump's state of the union address last night gave the nation an emphatic hallelujah moment it was a speech and a moment worth waiting for. the spectacle of the joint session of congress, the trappings of tradition, history and, yes, power. the power of the presidency on display as mr. trump stood before the members of the other branches of government, the high court, the house, the senators, the president delivering his speech in perfect pitch; earnest, plain-spoken, his manner as always direct and authentically tr

president trump will nominate david malpass to head the world bank.s a critic of the internationalist principles. the announcement will be made this week. japan's prime minister and germany's chancellor say they both want to prevent a no deal brexit that could rattle their economies. japan must play a greater role on the global stage. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. alix: ralph lauren getting a big boost in premarket. they beat on the bottom line. estimates, up- about 4%. digital group 20% over the past year. here in the u.s., overall sales of 3%. david: it's a company that's been looking for a turnaround for a while. it appears to be on the upswing now. they invested a lot in digital. david: coming up, the next target for top senate democrats -- corporate buybacks. that's coming up next. this is bloomberg. ♪ viviana: this is "bloomberg daybreak." viacom promising -- providing evidence a turnaround is taking hold. reporting first-quarter sales and profit that beat estimates. ma

so why is mr malpass a controversial pick?ome have also noted that he has fewer qualifications than the other contenders. let's speak to our business reporter samira hussain who's in new york. does it matter who is the head of the world bank? that depends on whether you think the world bank really matters. if you are someone who believes that it still does, who leads that institution is really quite important. of course his nomination by the trump administration is raising a bit of debate about what the future holds for the world bank, given some of these scathing remarks he has made in the past. about these big multinational institutions like the world bank, calling them really big and inefficient. there are people worrying about what this means for the future of the bank. the white house's senior administration officials has pushed back saying what we want to see is a more modernised version of the bank, and he is someone who can do that. this is one thing that people may not be aware of, but china is one of the biggest borr

treasury secretary mnuchin praised malpass — while the president himself made clear he expected a malpasss. the bbc‘s kim gittleson is here with me. so who is david malpass, what do we know about him? he is currently serving in the treasury department and have served with reagan and george h w but andy is the chief economist up until the bank needed a rescue in 2008 and he wrote this op—ed in the wall street journal in which he decided that the housing market or debt markets would have a big impact on the us economy which was in 2007 cell history has not looked kindly on that but the number one reason that he is really interesting as a peck as he is very donald trump, he has been a critic of the world bank. and he loves to play people into the positions that they have criticised. so that is why his appointment has raised a few eyebrows. not just his appointment has raised a few eyebrows. notjust in the united states but from people who might need to approve his nomination as head of the world bank. we spoke about what 2019 might bring and you said it could be a time for a reckoning, how d

david malpass has critised the intitution and called it inefficient inefficient. —— calling it inefficientcome to the programme, briefing you on all you need to know in global news, business, and sport. get involved in the conversation — tell us what you think about the state of the union address or the other stories we are covering today — just use the hashtag bbcthebriefing. did you tune in, has it completely passed you by? did you tune in, has it completely passed you by? president trump has delivered the annual state of the union address to congress. he said his speech was an agenda for the american people. he also spoke about how the country was in the midst of a economic miracle, which could be put at risk by the continuation of what he called ridiculous partisan investigations. president trump also called on republicans and democrats to work together. this is what the president had to say about continuing to rebuild the economy. our country is vibrant and our economy is arriving like never before. on friday, it was announced that we added another 304,000 jobs last month alone, almos

malpass was an advisor on the trump campaign. a key player with the treasury department.s to be seen here, connell, how other nations perceive the malpass selection since he is critical in the past of multilateral organizations including the world bank. connell? connell: blake burman at the white house. melissa: joining us to react, peter brookes, heritage foundation senior fellow and former assistant secretary of defense. i want to start with everything the president said and the strategy going forward. the latest information, that the islamic state controls 20 square miles of syria near the iraq border. the president looking to take troops out. you hear his generals we're not under pressure to be out by a certain date, not making that clear, what date this might be. what is your take on all the new information? >> right. it has to be, melissa, based on conditions on the ground. we're making tremendous progress. think where we were couple years ago. you and i on this show and other places talked about isis for many, many years. melissa: yeah. >> so we have made tremendou

president trump has — as expected — nominated loyalist david malpass, an outspoken critic of the worldass is a senior us treasury department official and served as an economic adviser during donald trump's election campaign. he's promised pro—growth reforms. the appointment does have to be approved by the world bank's executive board. former brazilian president, luiz inacio lula da silva, has been sentenced to a further 12 years in jail on corruption charges. he's 73, he's already serving 12 years in a separate corruption case. he denies all the charges, he says they are politcally motivated. —— politically motivated. the leader of the taliban's peace negotiations with the us has told the bbc his group is not interested in taking the country by force, but he did warn that they wouldn't agree to a ceasefire until all foreign forces were withdrawn from afghanistan. this after a second day of talks in moscow between the taliban and opposition afghan officials. more than four years after british combat troops left afghanistan, levels of violence in the country continue to rise. explosion t

world bank critic david malpass has been nominated by u.s. president donald trump to lead that very institution the decision is likely to spark concern among fellow members of the international lender which is controlled by the world's wealthiest nations one of its biggest borrowers is china which is embroiled in a trade dispute with the trump administration the u.s. is the biggest shareholder in the world bank and has always picked its president. worse than expected performance by germany's manufacturing sector has added to worries about growth in europe's biggest economy the latest figures show factory orders were down one point six percent december compared to the month before economists had been expecting an increase of point three percent growth has been hit by car makers struggles with tougher emissions to us as well as falling demand from outside the euro zone. saying in europe a french farmer has launched his last ditch effort to hold months on to responsible for an illness that he says was called caused by a weak killer made by the f

don't miss bloomberg's interview with david malpass at 1:30 london time.tors seem to be tossing aside concerns over italy's relapse into recession. the sale has allowed it to raise 8 billion euros, but the imf fall italy could still short on much have needed reforms, saying economic growth will remain below 1% through 2023. global news, 24 hours a day, on air and at tictoc on twitter powered by more than 2700 journalists and analysts in over 120 countries. thank you so hows, much. breaking news from the reserve bank of india, a big surprise. cutting policy rates to 6.25% from 6.5%. we were asking ourselves if we would get a dovish tilt, and we are actually seeing a cut in the policy rate, the red headline on the bloomberg. unexpected, that cut to the policy rate. just trying to go through the other headlines here. the monetary policy panel was unanimous on the policy stance. the rupee coming under pressure, down 0.2% in reaction to that. sensex meanwhile extending gains after the r.b.i. cuts the benchmark rate. a drop in the rupee, a gain in the equity mar

malpass: i would like it to be more effective.are deeply about the mission of the world bank and development, in general. if we think about the world, there's still a lot of poverty, extreme poverty in some cases. but in general, more growth for developing countries. that means higher living standards. and that comes back and benefits the united states. it benefits europe. all of japan, of course, all of the major shareholders of the world bank. it's engaged internationally in trying to have more growth, higher living standards, and better practices around the world. alix: the boe and central bank delivers its latest assessment on the economy. that decision out right now, obviously completely expected. no change when it comes to rates. however, the bank does cut its growth forecast, saying the brexit damage has increased. mr. carney: brexit is causing short-term volatility in the economic data, and more fundamentally, it is creating a series of tensions in the economy. marcus: it's hard to feel sorry for a central banker, but mark

malpass has portrayed opaque as being too big and too inefficient.omination provoking risk from countries that defendant the global order against trump's criticism. coming up tonight, president union. state of the bloomberg will bring you the latest from the big event in washington, these the the venezuela crisis continues. the eu failed to issue joint support for the opposition chief. italy be telling the decision. jpmorgan is reportedly reviewing venezuela's status in its bond indexes.sources say the company is considering dropping the country's's sovereign notes from a number of its benchmarks after the u.s. treasury department put trading restrictions on the bond. global news, 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. nejra: thank you so much. theresa may is heading to northern ireland to try to salvage her brexit deal. the prime minister is expected to underline the government's commitment to avoiding a hard border while finding an alternativ

this may be mission impossible butis hopefully, david malpass like the tv show will actually win thisd luck to him. all right and. remember if you have your own hit or miss be sure to tweet it to us at jer@fn c. that's it for this weeks show thanks to my panel and thanks to all of you for watching. we hope to see you right here next week. here next week. >> a teacher and a newspaperman , as the first woman elected to the united states senate from the state of minnesota. >> [applause] >> to announce my candidacy for president of the united states. >> [applause] >> well now there's another one , a new democratic hopeful, entering the race of the white house, just moments ago, that was min minnesota senator amy kl obuchar, announcing her candidacy in cold

. >>> president trump reportedly set to nominate official david malpass to be the president of the worldk malpass currently serves as undersecretary of the treasury for international affairs and previously he was an economist at bear stearns. and served at the treasury and state departments under president reagan and president h.w. bush. not terrible to appointing a nonglobalist to a global institution but it is controversial and that's because malpass in the current role oversees the imf and world bank and argued against capital increases for the world bank which a lot of people don't know, this is not an extension of the administration. their mandate focusing on the poorest countries of the world in disasters and education and climate change and these types of issues. david mallpass i know as a trump economics kind of guy and they have 189 members they do have to appoint him. >> right what happens next? >> it's expected that whoever -- the tradition is when they were created imf europeans choose the imf leader and the americans choose world bank. that's under pressure from especially c

cheryl: malpass weighing in on the ongoing crisis in venezuela. he said most of the finances would come from the future if thgovernment democratic governmt proceeds. lauren: chipotle's comeback continues. it crushed earnings estimates yesterday. it mate news for another reason. cheryl: hillary vaughn has that story and other stories this morning. good morning, hillary. hillary: good morning, cheryl and lauren. have you heard of the chipotle -- they are getting a drive-through. they plan to order a few dozen pickup lanes, kind of like a drive-through. you have to order before you arrive on an app or online. when you get there, you arrive at your pick-up time and your food. cheryl: the battle between bud light and miller lite, it started on super bowl sunday and it's still going. hillary: they're calling it the corn-troversy, in the bat em bae between bud light and miller lite. miller lite defended its use of corn si syrup. they say they don't use high fructose corn syrup in their beer. lauren: now to creepy napkins on airplanes. what's going on wit

let's start with the malpass headline. surprise to some of the traders on the floor of the new york stock ebbing change who were hopeful last week that it might be pushed out and that negotiations may be progressing faster than we imagined. what have we gotten this week so far in these conversations between these lower level officials and the negotiations that are already underway? >> well, you point out one of the most important points here, and that is that these meetings that are happening right now are precursory meetings before the real decision makers come into the desk. the people who are going to be making the decisions on these negotiations are bob lighthizer and even all the way up to president trump. so while it's important to pay attention to what's happening during these premeetings, i'd really pay more attention to what the principals are saying about how negotiations are going. gerri: i think that's interesting. you say it's going to take trump, it's going to take president xi to come to an agreement here. a

malpass is an outspoken critic of the world bank, suggesting it is overly intrusive.e previously worked on wall street as the chief economist of bear stearns. in 2007, he wrote op-edl street journal" titled "don't panic about the credit market" - less than a year before the collapse and subsequent sale of bear stearns amid the 2008 financial crisis. president trump has announced he will nominate david bernhardt as secretary of the interior department. bernhardt, a former oil lobbyist, has been the agency's acting secretary since ryan zinke stepped down in december amid multiple scandals and ethics investigations. bernhardt was confirmed as deputy secretary of the interior in 2017, where he helped roll back regulations overseen by the department. he worked to make the approval for land and offshore drilling projects easier, and proposed limiting protections for endangered species. bernhardt also ordered some furloughed workers back to work during the government shutdown to pushsh through on ol and natural gas drilling permits, offshore drilling and drilling in the alas

the wallstreet journal just said today in a editorial that david malpass is a excellent choice.ca is the largest contributor to the world bank giving it over one billion dollars every year. my administration has made it a top priority to insure that u.s. taxpayer's dollars are spect effectively and wisely, serve american interests and american values. david has been a advocate at the world bank for a long time. he is to insure financing is focused on the places and projects that node it. including people, living and extreme poverty. david was critical of the world

charles: president trump plans to nominate david malpass to lead the world bank.ndersecretary of international affairs at treasury, malpass as you know is frequent critic of the institution itself especially when it comes to china. trump is expected to make announcement later on in the week. coming up i'm sharing the stock of the day. it might surprise you. democratic figures wising up overtaxing the rich can make everyone else poor? new york governor mario cuomo calling, i'm sorry, andrew cuomo, talk about a mental block there, calling the situation of people fleeing the high-taxed state, as serious as a heart attack. more on that later in the show. ♪ [knocking] ♪ ♪ memories. what we deliver by delivering. and the army taught me a lot about commitment. which i apply to my life and my work. at comcast we're commited to delivering the best experience possible, by being on time everytime. and if we are ever late, we'll give you a automatic twenty dollar credit. my name is antonio and i'm a technician at comcast. we're working to make things simple, easy and awesome.

malpass has criticized the bank for focusing too much on its own growth and not enough on.hting pover and on wall street, the dow jones industrial average lost 21 points to close at 25,390. the nasdaq fell 26 points, and the s&p 500 slipped six. still to come on the newshour: what's next for congressional lawmakers now that the president has laid out his agenda. the possibility, and challenge,d ofing h.i.v. in the u.s. bypl 2030, much more. >> woodruff: as is the case most ofyears, last night's stathe union address was as an occasion anr both parties to lay out their prioritiesstake out ground for political battles to me. the president spoke at length about immigration and jobs, topics he raises fre while also highlighting the fight against "isis", prescription drug prices, and other issues. our own yamiche alcindor is here now with a deeper dive into the president's statements last night. hello, yamiche. so let's walk about some t the president laid out last night, how this could affect the next few years. first, talk about what he had to say about immigration. >> so the p

malpass had portrayed the world bank as too big and too inefficient.board has the final say in choosing the leader. up, president trump's state of the union overnight and bloomberg will leave -- bring you the latest from the big event in washington. bp joins its big oil peers by giving investors a surprise. the energy giant exceeded profit estimates and reported better returns than shall. existing fields and refineries were worked more than ever, offsetting the slump in crude prices at the end of last year. bob dudley says the company's strategy is clearly working. spending, prices and costs, projects are coming in on time, under budget. we just pierced the range, really because of one transaction. a creative transaction with bp. on the backside of that, we have committed to diverse over the next couple of years, $10 billion will bring the gearing back down. i am not concerned of ticking outside the range a little, because it is such a good transaction. desley: certain people were said to have died in a paris apartment fire. one other is seriously inju