manus: i am manus cranny in dubai. let's check in on the markets now. on the move. a breaking news like coming in from russia. russia has reached its pledged level of cuts under the opec plus deal. this will be critically important, because it was about compliance that has been driving the oil market. yields at two point -- 2.47%. inverted tont from positive. the dollar is slightly stronger this point. good morning -- this morning. good morning. nejra: cable extending his losses. it's not quite the worst-performing g10 against the dollar. that's the aussie. we did not get any clearer on what parliament wants next in theresa may's big brexit deal. goldman says the best opportunity is the pound out of developed market currencies. the global equity rally taking in the bit of a positive a. ause-- positive today -- p today. better than expected pmi's out of the u.s. and china, but futures on the back foot today. let's get the bloomberg business flash. >> lyft has closed its second day of trading only 4% below its price. you cannot necessarily read too much i

manus?anus: thank you very much, juliette saly, ever watchful, making sure i'm on the right track. let's stay with the markets and the latest on trade. stocks rallying in asia as the u.s. treasury secretary says talks with china are hopefully getting close to the final round. a sign that two sides are edging closer to the deal. steven mnuchin says the u.s. is open to facing repercussions if it doesn't live up to the commitments in an agreement. data released after trading ended last week showed growth in china exceeded estimates last month. joining us is henrietta, head of investment rate credits for europe at wells fargo asset management. great to have you with us. there's an op-ed piece saying the data we've had from china is good. he's just not convinced of the long-term nature of the growth trajectory. is that a fair take of the data sentiment this morning? welcome. henrietta: good morning. thank you for having me. i think it's probably true. they have tried to facilitate credits at the

manus: good morning.ind of see restrictions we saw in markets last week and the overnight funding rate going to 25%, bring ais perhaps little bit more pressure to bear on the currency this morning where some of those restrictions are lifted? koon: i think we have already seen some pressure come through to the currency. remember, at one stage, we had overnight rates at more than 1000%. that was the key point. thursday, friday, those rates were coming down. the lira was already under depreciation pressure. we will get a little bit depreciation pressure. but beyond that, i think the worst is behind us in terms of the fx. one thing that helps a lot is the global environment. mentioned earlier, a lot of emerging markets are doing better because of the pmi's out of china. pmi's out of asia, which helped this feel-good factor. feel bad address the factor, which we had last week. people are worried about where global growth is going. yields were down. are a little bit better in asia. maybe that means global growt

manus: absolutely.specifically, if they go after credit, perhaps we see a differential between sovereigns and credit. we debate that over the next couple months. william, come back. on the show, pedro sanchez looks set to return as spain's prime minister. the very latest live from madrid. manus: when it comes to european banking, there's a few lenders left to report on the season. hsbc end pair of both do. -- hsbc and bnp paribas. european firms slumping the most in more than a month. traded at a six month high. dani: we have this issue where european banks are suffering from a toxic brew of structural problems. field ofa clouded smaller institutions. high cost, not to mention a tricky political landscape. i want to take you into my terminal. the struggle is really apparent. when you compare them to their u.s. rivals, when you look at the top five banks in each region, over the past 12 months, 100 millionked in in profit. checkout europe. that's a third of that amount. when we look at monetary stimulus,

manus: a very good day to you, it's manus in dubai.ve a bloomberg opinion piece this commodity rally overall has legs. banks look at cement prices as being a precurseor to other commodities. how emboldened should we be with the data this morning? or is there a hint of skepticism n your analysis? >> if we think about chinese metal demand it's about credit availability in china. we've had very strong credit impulse in china in q is. the q 1 number is 40% higher than it was last year. this morning we've had a very strong g.d.p. print, 6.4% ahead of expectations. i think what we're seeing now is that the credit availability in china has limited the downside metals price this is year. i think what we need to watch closely is how the authorities respond as we move into the second half of the year. what's really encouraging to me is a lot of this credibility is going into the old economy. so we're seeing good tchand coming through from infrastructure. we're seeing also a pickup in the property market in china. both of these are very important

manus: good morning from the middle east headquarters in dubai. i am manus cranny. this is bloomberg daybreak: europe. data disappointment. china's manufacturing pmi misses but does this mean the pboc will keep its foot on the stimulus panel? trade talks kick off in beijing. not as easy as a, b, c. out of the shares slump on slowing and revenue growth. samsung this is the bottom line and issues are guarded outlook. results bonanza. bloomberg across the today. we speak with danske bank and standard chartered, as the latter announced a billion-dollar buyback. breaking news coming across the terminal. lufthansa on the airline side, to cut euro wings capacity growth to zero in 2019. call the carriers around europe are under pressure from the headwinds of the cost of actually getting those planes into the sky. lufthansa makes this announcement with regards to the budget airline eurowings capacity to zero this year. concerning the guidance for 2019, previously expected to grow capacity by 2%. first-quarter revenue comes in at 7.80 9 billion, in line with what the market h

manus: and i am manus cranny in dubai.ts, risk-off from currencies along with commodities. msci up at a six-month high based on fresh hopes that the u.s. and china will resolve most of their trade issues. but there are still issues to be touched on. you on stronger this morning. bitcoin seeing a momentous rally yesterday. -- can an ashcan it it endure? we have a lovely bloomberg opinion piece, aquinas surging again, just ignore it. [laughter] that with oil as well, brent moving toward $70 a since for the first time september, news we have heard of opec cuts countering what we have heard from the u.s.. cable struggling for direction, theresa may reaching out to the labour party for cross party talks. that could mean that we are moving toward a softer brexit, but cable seems a bit unsure this morning. with a bloomberg business flash, here is olivia how. olivia: allegations that this bank provided dollar cleaning services to this client, would in relation of sanctions against that country by the u.s.. blackrock's chief execut

manus? manus: deborah, thank you very much.of the day on mliv is as follows, and you can take it in any direction you want. 2019, what could derail the rally? the mliv team are there, you can pop your questions on their. nejra. nejra: coming up, the south africa central bank wise economic growth could be zero this year. we will talk more emerging markets with kevin daly from aberdeen asset management. this is bloomberg. ♪ ♪ manus: it is just 7:18 a.m. in london, we are 41 minutes and counting down to the start of your cash trading in european markets. this is bloomberg daybreak: europe. welcome to the show. i am manus cranny in dubai. nejra: and i am they are change in london. speaking of equity trading, let us look at the markets. on the downside after six days of gains for european equities. and there could be more downside. according to a bloomberg survey, the stoxx 600 equity benchmark falling 8.9% by the end of 2019 from yesterday's close. u.s. futures also on the back .2%. down we saw some weakness in the s&p 500 yes

manus: i am manus cranny. the numbers, 21 for the quarter, upping the guidance for novartis. it is the ceo, he has invited us in. dr. vas narasimhan, thank you for joining us. the guidance. we love superlatives. how would you describe this quarter? hasnarasimhan: this quarter been about transformation, it is transformational because we were able to refashion the company and focus is a medicines company . we were able to transform in terms of building momentum in our core medicines is nice. you saw 18% income growth, 7% sales growth. our key innovation drivers are firing. potentialeline of blockbusters. this is a moment of transformation. what does it do for you as the ceo, does it empower you to create? dr. narasimhan: we are in a world where companies focus their mental energies and capital are the ones that will win. in an innovative environment like we are in, you have to focus. andng out of devices focusing on our core innovation engine, i think it will be powerful for novartis. billion of acquisition in c

manus: i am manus cranny. at abu dhabi. this is the luxury end of the world.armaker aston martin, the stock is been under pressure dropping 5%. the british company said earlier this year that some buyers in the u k and europe are dealing amid uncertainty around brexit. one man who can tell us how the business is doing his part of the president. good to see you. things are a bit tough in the u.k. the new model is shiny and sparkling. how is demand? >> we launched three new sports cars. -- it has been a great reestablishment of the sports car range. a service for, aggressive sports car. and the flagship super gt. to do averyone wants deal. where are you on the capacity? [indiscernible] >> we're making good margins. market -- new products, we had three new launches in the last three years. hallmark is the add-on. -- it is the bespoke nature of the product, is that what you see more of? >> the individual customization of our cars [indiscernible] in special growth is vehicles. the limited editions, coming out toward the end of this year and next year. these are hig

manus: great round up. we had the atlantic council this morning saying this is america not providing an offramp of anything, potentially going to an escalation of angst. with the latest. we put oil in there. let's have a look at it. a rally of 3% yesterday. we are trading higher this morning. ubs said there will be a cautious response from opec. oil rising, brent rising to $78 by the second of the third quarter. you are right, it is about what saudi can do. they are the swing producer. let's look at the rest of the .est -- risk market in iron ore.rtant ratcheting higher this morning, stocks falling for the second week in a row. steel production is at a record high and citigroup have visibility on a trade deal. canadian dollar, let me pop the scene. i am not sure what that is. -- pop this in. i'm not sure what this is. generic first. we will have to have a tricky word with someone on that. canadian dollar better bid. juliette saly? juliet: we are seeing upside in asian markets, although investors are waiting

manus: i'm manus cranny in dubai.e economy is important, showing further signs of recovery after months of meltdown -- slowdown, i should say. a bit of context. better than expected credit data. home prices, gdp figures are due tomorrow and the markets await that key data. downward pressure persists. with a deep dive, dani burger has the latest. dani: the earliest indicators we have seen look promising. the bloomberg economics aggregate indicators, the top strongericked into territory. the measures, some of which i have that going to this reading are anything but uniform. first, major stocks. strong sentiment leading the pack. the csi 300 seeing a 32% in 2019, recovering for the first year that worst year for equities 2008. small business confidence picking up in the economic picture. the government has been directing credit toward sme's and announced the biggest tax deduction on record -- reduction on record. at the same time, global commerce points to weakness. copper prices and factory inflation don't bode well for

i am nejra cehic with manus cranny. this is bloomberg daybreak: europe and these are today's top stories. oil extends its rally. we speak exclusively with saudi arabia and energy minister as aramco prepares to kick off a blockbuster bond. -- topnt trump's talk economic adviser says a deal is close. limbo, prime minister theresa may looks to restart stalled brexit negotiations with rival jeremy corbyn ahead of a crucial summit with the eu this week. ♪ manus: a warm welcome to the arabia.of saudi we are broadcasting from the first gulf intelligence saudi arabia forum right here in riyadh. at a five-month high, you are looking at the hedge funds coursing higher. we have a conversation that would define the confirmation of this kingdom to a new energy power. and energyrabia minister joined me just after 7:00 a.m. about the transition to a new economy. we will talk about opec, and will he or won't he talk about the size and price of the saudi aramco bond? define globall risk appetite for this kingdom and the leader of the ki

manus: can i interrupt you?y have given you the moniker of drill or drop, but you are more show me the money. they are drilling and they are producing. what are you going to produce this year? you part of opec. you are a small part. that is what matters to the cohesion of opec plus. what are your numbers? >> our number at this moment is 120 barrels per day. we have a production of 300,000 barrels per day. a whole new moniker for you, minister, which is show me the money. equatorial guinea minister. i will be seeing you -- you know what? it's all about growth. minister, i will see you in vienna. thanks for joining us this morning. >> it will be a pleasure. manus: it is always a pleasure. let's talk about politics now. it is decision day in israel. the country goes to the polls. facing theinister is political fight of his life amid corruption allegations, a strong challenge from a retired general. b's are standing up to one another. let's discuss this with our israel governor reporter. how is the campaign leading

i manus cranny in dubai. -- i am manus cranny in dubai.ejra: that's get the bloomberg business flash with olivia. fund two years, the vision did the best -- invested in tech companies. bloomberg has learned there are talks to assemble a second fun. the softbank founder said he intends to raise $100 billion every two or three years. unicredit is reportedly preparing arrival bid for commerzbank, according to the financial times. the move would come if merger talks break down. it has seen mounting opposition in recent weeks. ft reports plan could be to merge with a german lender already owned by unicredit. tesla has reported a record decline for deliveries in the second quarter. in europe and china, the company struggled to get cars to customers quickly. elon musk plans to accelerate sales with lower prices and quicker deliveries. that is the bloomberg business flash. manus: olivia, thank you very much. bloomberg has learned that american companies would be allowed to wholly owned enterprise -- enterprises in china. top white house economic a

manus: matt. about tieups in european financials. , he was not going to answer that is whether he was having talks or not. but there is a natural progression in terms of more deals getting done. i said that if they get together, what would that neil -- what would that mean for you? he said no material impact, but i don't know about that. when you look at businesses that work with you, it does have a andequence for socgen others, he said no it wouldn't. what comes more into play is an dws. and if they are in talks, does he want full control? and if they put together, it would take them to number two in asset management. the size and scale of things that have to be done, but done profitably, and that was the message around the conversation. anna: interesting on the m&a front. but terms of the underlying numbers, what did they have to say? manus: a red-hot headline, $22 billion in terms of new money. three quarters of that was gathered in from asia-pacific. china, but inut terms of sentiment, this is

manus: if we wait until june it's going to be very close. do you think that might be the pivotal moment of when we might get -- >> i think it will be a key decision point. we will by then know the consensus view. we will know where the fundamentals are pointing. i think may is going to be a key. manus: i have watched you and alexander novak from afar. your presence at these opec meetings. can physically see that relationship has changed. novak on board with you in general about an extension? >> our relationship is great. i trust alexander and i believe he trusts me. the dynamics in russia are different from any other country. with aourse has to deal number of different points of view. russia also has different geopolitical considerations. he has to weigh all those factors before he reaches a decision. believe strongly opec plus has been good for russia as a key producer. resources,s a lot of not just oil, but gas as well. value in international markets is impacted by oil outlooks. i think it helps multiple angles. doing a great job for russi

right, manu? manu raju?rter: that's right. >> just walk us -- >> reporter: outside the house judiciary committee room. >> vote along party lines? >> reporter: yeah. the vote was along -- it seemed to be along party lines. it didn't sound like there were any republican defection, saying that the democrats were going way to far for their demands. right before this 24-17 vote along party lines to obtain the full mueller report and the underlying evidence, along with those documents from the five white house officials, republicans tried to limit the amount of information that would come to capitol hill. they wanted to prevent grand jury information, in particular, from coming to congress. democrats rejected along party lines. this debate playing along this way as well. jerry nadler made very clear he was going to serve these subpoenas when he feels necessary, even though authorized today, he would do it when he found it to be the right time and he was prepared to go to court, if necessary. that was the message t

manus? manus: coming up, we are live from the imf world bank spring meeting.t miss our interviews with the managing director of the imf. as well as the governor of the bank of italy and the south african reserve bank. all coming up. francine is definitely on tour. if you are traveling to work, you know what to do. this is bloomberg. ♪ hitch inm a rich a london. -- nejra che pitch in london. manus: very happy to be back in my to buy studio. four days on the road, i was getting ready -- worried that they would leave me in the desert. we have asia lighting up ever so slightly. s&p futures unchanged. softer inflation data. was the fed dovish enough? there you go. it pops back. quarter of 1%. mosting is just really the pragmatic thing i've seen in response to this. neither fish nor fowl extension. go to google. nejra: you've talked about cable there. let me talk about the aussie dollar coming under pressure. commodity currencies coming under pressure little bit. oil retreating from a five-month high. the beauty i trading at 6431. crude inventories rising to the hig

can you hear us, manu? what do you think is the most important pressing question democratic senators will try to fete an answer on that perhaps their colleague from the house couldn't get? >> they're going to press him a little further. >> manu raju, i'm sorry. hold that thought. let's go to the ranking member. >> i believe this report has serious national security implications. we know that russia interfered in our election. we know that the special counsel has brought nearly 200 charges against 34 individuals in three companies, including six former trump officials and 26 russian nationals. i am concerned by recent media reports that those working on the special counsel's team believe your summary to congress glossed over the severity of the damaging actions of those in the white house, including the president. the american people should be allowed to see the report in its entirety so they can make their own judgments about its content. i am also troubled by the department's recent decision to support a d

. >> cnn's manu raju is on capitol hill. that's just a small taste, manu, of the energy inside those rooms. >> yeah, fireworks in this room right behind me. democrats and republicans squaring off over one of the key issues that this committee plans to investigate in the weeks ahead. security clearances at the white house. underlying a lot of this is the concerns among the democrats that two current white house officials received security clearance and they shouldn't have. there have been reports from cnn and others about jared kushner, concerns about his security clearance and the president overriding those concerns. ivanka trump, the president's daughter and senior adviser, concerns about her security clearance, also overridden by the president. that's part of this investigation, but this whistleblower raising concerns about systemic problems that she believes that occurred in this white house about how the security clearance process works. just in a matter of moments, we expect this committee along party lines to vote to a

i want to go straight to manu raju listening in and stepping back, manu, and you helped fill in the contextis has to do with the committee chairman of the house ways and means citing this little known irs code to procure six years worth of president trump's tax returns. >> reporter: yes. personal and business taxes, that is what chairman neal is asking for. new chuck grassley is his counterpart on the senate side, the republican chairman of the senate finance committee. both the finance committee and the ways and means committee oversee tax laws and grassley himself said if there is tax returns that are turned over to richard neal's committee he should see them as well but what grassley is making here is his argument that democrats are trying to weaponize the tax returns to attack the president. he's trying to undercut what rich neal has been saying, that they're argument the democrats are saying, this is a policy issue. they say they're asking for the tax returns to determine whether or not the current irs policy of auditing sitting presidents needs to be changed in any way, whether legisl

let me bring back in manu raju. let's keep our subpoenas straight. so barr says the report is coming, so what does chairman jerry nadler do -- what is he doing here with this vote this week, then? >> well, they're trying to make clear they want the full report not the redacted report and they're trying to demand the underlying evidence that underpins all the information, the conclusions within the mueller report. according to bill barr's letter from friday he said he planned to redact four categories of information and two categories in particular caught democrats by surprise and raised some significant concerns. one was grand jury information, two was information regarding to what bill barr would consider that would impugn the integrity of peripheral third parties in this investigation. it's unclear what that actually would entail, but nevertheless democrats are worried that this would be a significantly redacted report and the american public won't see the full picture. so they are planning on wednesday to authorize the house judiciary committee to

ermottiat was sergio speaking to manus cranny.ll dig into nintendo's disappointing earnings report. a look at why the game maker will not be producing a new model of the flagship switch and talkn june, about the disappointing earnings guidance, as well. this is bloomberg. ♪ berg. ♪ selina: i'm selina wang with the first word headlines. the trump administration may concede to a chinese proposal for less protection for pharmaceutical product -- products than a home. -- at home. the chinese offer is being discussed as wider trade talks. it would give drug companies eight years of regulatory data protection in china, two years less than nafta. the british government agreed to host economic talks with china in june despite the vice from your expressing regret that relations have fluctuated over tensions of the south china sea's. chancellor philip hammond said the talks would continue a golden era of relations. hammond is in beijing where president xi speaks later friday. a british government official says prime minister theresa may is

. >> democrats are not stopping there as cnn's manu raju tells us, they're gearing up for a fight. >>orter: good morning, christine and boris. house democrats are planning to pursue their investigations on multiple fronts. there will be a full-court press to demand the full mueller report, the unredacted mueller report, including the grand jury information that democrats have been asking for but the justice department so far not willing to turn over. expect subpoenas that could come out as soon as friday. at the same time, democrats proving on other fronts, including an investigation in the house intelligence committee looking into financial interests. potential areas of compromise the democrats say if it's affecting the president, they have subpoenaed nine different banks. it's not clear whether the mueller investigation fully probed this area. that's an area that adam schiff, the chairman of the house intelligence committee, wants to pursue. bill barr will be before the house judiciary committee at the beginning of may. also before the senate judiciary at that time. also, bob muelle

here to give us a look at what to expect cnn's senior congressional precedent manu raju. there will be a lot of tough questions coming barr's way. will he answer those questions? >> reporter: that's the big question, how much will he say? we don't expect him to get into the investigative details about the contents of the mueller report, but we do expect some discussion about the process that he is undergoing right now as part of the redaction process for the mueller report, how he plans to move forward and release that redacted version and the question is how much more does he provide to congress, does he anything more than he has said already in these written letters and the correspondence with the house and senate judiciary committee. this is a hearing that's supposed to be about the justice department's budget, but democrats have made no secret about it, they want to understand exactly the process that is going on right now, why bill barr took certain actions like not charging the president with obstruction of justice and how he developed that four-page letter. the cha

manus: as an investor, you seen plenty of bond issues. say this is something to buy more of in the secondary market on the reading of the data that you have? martin: i suspect it will be too pricey in the secondary market. but i don't know. if i say to a fund manager to buy something, he sells it, so -- [laughter] they will probably buy now rather than sell. manus: you think you could cheapen up perhaps and the second market? martin: i'm not sure. i think the demand is so massive that from what i read, it will go well. manus: ok. is this a seminal moment in saudi as a turning point in the saudi story? the aramco, sabic, and you can tack on the bond story. it is a big beast in the market. is it a pivotal moment? martin: yeah, i think so. aramco is clearly a very powerful company. definitely, the way this has gone must be a real boost to their ambitions for aramco. abigail: one of the world's largest asset managers is urging investors to bet on emerging markets. in another exclusive conversation, pgim ceo david hunt told bloomberg why he is

manu, thank you for the reporting on both fronts. we are lucky to have our chief legal analyst jeffrey toobin by our side. thank you for being here. let's back up and start where manu started, on the deadline that bill barr is not going to hit. the deadline that the republicans call arbitrary. he tics through four areas that he thinks needs to be redacted. his argument is by law that's grand jury info. we know that courts can overrule that and can rule that that can be turned over. we saw it in watergate. >> not only that, you know, the way we have -- barr in particular has been discussing these categories, it's as if they are ironclad and clear. it is not clear often what's grand jury material and what's not. you know, by its narrow west definition it's just the testimony that's given in the grand jury, but there are some courts and some prosecutors have said, no, anything that was discussed in the grand jury is off limits. how barr chooses to interpret the scope of grand jury secrecy is very important in how he resolves this. >> ju

first let's go straight to capitol hill, our senior congressional correspondent manu a raju is joining us. first, what are you finding out about the subpoena for don mcgahn? >> reporter: the house judiciary committee making a move to subpoena don mcgahn, the former white house counsel asking he turnover records by may 7. asking he appear in public by may 21st, and an indication of this panel's aggressive investigation into potential obstruction of justice. mcgahn a central player in the trump administration for the first two years, an individual whose name was mentioned throughout the mueller report, and who the president asked to fire the special counsel robert mueller, and mcgahn apparently, according to the mueller report, resisted in doing so. now, this is all part of the next series of steps that demps want to take to move forward. they want to move forward in the obstruction investigation, look into potential abuses of power in the white house, and explore deeply everything that bob mueller uncovered in his two-year investigation. now, next month is going to be a key month for th

manu, thank you so much for that. the attorney general says he's relying on his own discretion, when deciding what to release from the mueller report. we have cara scannel and gloria borger here with us to talk about this. so, within a week. that was interesting to hear the attorney general say that we should have something within a week or congress should have something within a week, i should be more clear about that. but let's listen to what he said when he was asked if the white house, as manu was talking about, has been shown or briefed on this mueller report. >> did the white house see the report before you released your summarizing letter? has the white house seen it since then? have they been briefed on the contents beyond what was in your summarizing letter to the judiciary committee? >> i've said what i'm going to say about the report today. >> i love that question, actually. that said a lot about how he was approaching this. but what did you think about that? >> well, he sort of clarified that, in fact, the

ma manu, thank you very much. let's go to our chief white house correspondent, jim acosta. jim, the president won't be happy about don mcgahn testifying, assuming he does. >> reporter: that's right, wolf. and keep in mind, don mcgahn the the former senior white house official, the white house counsel who was told by the president to fire the special counsel, robert mueller. mcgahn, according to the mueller report, refused to do that, as manu was saying, didn't want to trigger a saturday night massacre. and that is going to be some pretty fascinating television to watch, if the former white house counsel testifies up on capitol hill in front of the house about that exchange with the president, it is going to be something that the entire country is going to want to watch. meanwhile, the president, we should say, has been trying to convince the public all day long to believe him and not the mueller report. the president insisted today that his aides always obey his orders, despite what the mueller report says about that interaction with don mcgahn and other interactions. just

manu raju is on capitol hill. where do things stand right now? >> reporter: all-out resistance from the white house over a range of requests that democrats have made as a part of their wide-ranging investigations into all aspects of the trump administration. chairman have sent letters about everything from russian interference to immigration to get a lot of those requests ignored. subpoenas have been issued. now subpoenas are being fought or simply ignored. we saw subpoena issued earlier this week from the house judiciary committee to don mcgahn, former white house counsel, to testify by may 21st as part of its investigation into obstruction of justice, as well as everything that the mueller report found, particularly as it relates to don mcgahn and how the administration tried to fire mueller. the democrats say that that is not applicable here because executive privilege was waived by the way mcgahn already cooperated with the special counsel. this has a number of different fights that are percolating that could end up in court. tax returns bein

manu is on capitol hill. the top democrats have already had a lot to say in the post-mueller report world. they sure seem to be struggling to decide what to do next? >> well, there's a divide within the caucus about exactly what to do because there are some folks on the left, particularly younger members who and some more veteran members like maxine waters, who have pushed for impeachment proceedings to begin. they're alarmed by what they see in the report. but democratic leaders who are also alarmed about what they saw from the mueller report and the president's activities don't think impeachment is necessarily the way to go right now. they want to focus instead on the investigative aspects about looking into exactly what mueller laid out as it relates to obstruction of justice in particular. what you can expect on this conference call tonight is for pelosi along with our top lieutenants like jerry nadler, the house judiciary chairman too, lay out their concerns with what's in the report, how they plan to pr

let's go to our senior congressional correspondent, manu raju. manu, what's the latest?he white house and congress are battling on all fronts, and fights that could lead to court battles that could test the role of congress in overseeing the executive branch. on one figront, the fight over e president's finances. at least six different inquiries have been launched into different aspects of the president's finances, including some that are subject to congressional subpoenas, including one from the house oversight committee chairman, elijah cummings, who has issued a subpoena to the firm maizeres to look into those allegations by michael cohen, the president east attorney, that the president when he was an individual may have improperly or illegally inflated his net worth in order to try to buy the buffalo bills football team. the president's legal team warning them not to comply with the house democrats, saying they could take legal action to prevent that from going forward. also subpoenas to several banks, including the bank, deutsche bank, as part of what maxine waters

our senior congressional correspondent, manu raju is on the scene for us. manu, you had a chance to speak with the chairman of the judiciary committee, jerry nadler. what'd he say? >> he's ready to fight this in court. he said that a subpoena will be issued after the redacted report is received on capitol hill. he said that soon after that, they would issue a subpoena, demanding the full report, demanding the underlying evidence, and he said they're prepared to go to court. and he also said that his committee is entitled to the grand jury information that bill barr said he had no intention of seeking a court order to provide to congress. he said that there's ample precedent behind his effort. now, democrats are raising a lot of concerns, including the top democrat, the speaker, nancy pelosi, who told me just earlier this afternoon that barr has, quote, no business redacting information. he said that we all believe in protecting sources and methods, but she said, the only reason to redact is for security, and that's not a subjective thing. but you're hearing

manu, so what is the justice department saying? >> well, tension is building between the justice department and house democrats over the full mueller report, in which democrats are demanding, earlier today, the judiciary committee chairman sending a subpoena, demanding the full mueller report and the underlying evidence. and just moments ago, a spokesperson for the justice department rejektd those calls for the subpoena, calling it, quote, premature and unnecessary. now, what the justice department is saying is that they're offering select group of members, a dozen members, leaders of congress to come and review the mueller report that has fewer redactions from what we saw released yesterday, but democrats are rejecting that offer, as well. and in a letter that was sent earlier this afternoon, top democrats, including nancy pelosi, chuck schumer, and leaders of the house judiciary committee, the senate judiciary committee, and the respectich intelligence committees also said that that offer is also not acceptable. what they are pus

manus: that establishes a very clear yield curve, so to speak.ay a little bit of support and move on to the bond. was it $26 billion demand or $30 billion? how strong have to demand been? where is the bulk of the demand? $26 billion or $30 billion? mr. al-falih: i think the books have not been closed but it is upwards of both numbers. manus: north of $30 billion? mr. al-falih: i believe show but i am not part of the roadshow. it is healthy, let's put it this way. i think be patient, wait a couple of days. wednesday, we will on them. -- all know. haidi: that was the saudi energy minister speaking to manus cranny at the first gulf intelligence saudi arabia energy forum taking place. we will have more on aramco and oil later on. we will be joined by justin. next, chinese premier heading to brussels as the eu raises concerns over trade practices. this is bloomberg. ♪ haidi: i am howdy stroud-watts. ramy: you are watching daybreak australia. the chinese premier will hold talks with top eu officials in brussels later tuesday at the annual eu-china summ

>> manu, thank you. manu raju up on capitol hill. also breaking this afternoon, we're getting word of an alarming security breach this past weekend at the president's florida resort. let's go to former fbi supervisory special agent, josh campbell, who's a cnn law enforcement analyst. josh, tell us what happened. >> yeah, wolf, a stunning development over the weekend. we've received word from the united states secret service filing a court document that charges a chinese woman with unlawful entry at the mar-a-lago compound, in addition to making false statements to secret service agents. this stemmed from her attempt to gain access to the facility. she arrived at a u.s. secret service checkpoint and purported to be a guest of the club. she continued through a series of additional checkpoints. and when she made her way to the reception area, she told the hotel staff she was there to attend an event, they quickly realized did not exist and she was questioned by secret service agents. she became combative, she was detained and taken to t

. >> democrats are not stopping there as cnn's manu raju tells us, they are gearing up for a fight. >good morning, christine and boris. house democrats are planning to pursue their investigations on multiple fronts in the after math of the release of the mueller report. on one front there's going to be a full core press to demand the full mueller report, the unredacted mueller report, including the grand jury information that democrats have been asking for but the justice department so far not willing to turn over, expected subpoenas to come out as soon as friday. at the same time democrats moving on other fronts, including an investigation into house intelligence committee looking into financial interests, potential areas of compromise as the democrats say has been affecting the president. they have already subpoenaed nine different banks to get information about the president's business dealings. it's not clear whether the mueller investigation fully probed this area as an area adam schiff continued to pursue initially off the bat. bill barr, the attorney general will be before the

manu, what's next? what are jerry nadler and the chairman of the house judiciary committee and nancy pelosi and others going to do? moments ago jerry nadler put out a statement saying he plans to issue a subpoena for the full mueller report and underlying evidence. he says he's not been told by the justice department that they are going to see a less redacted version of the report. that is what bill barr said at his press conference today that he would provide a limited number of members of congress with a less redacted version but it was information about grand jury information would still be redacted. that is not sufficient to jerry nadler who wands to see the grand jury information. he says congress is entitled to that information. he's actually asked separately to go to court with the justice department or do it on their own to actually compel a court to provide that grand jury information to capitol hill, but he's not side with what bill barr has been saying pubically. he's very critical about the

christine and boris. >> manu raju, thank you. >>> following breaking news overnight. a big red flag in talks with north korea. pyongyang is demanding that secretary of state mike pompeo be replaced in talks. the state run news agency reported the test fire of a tactical guided, will ripley joins us. why did the north koreans sour on mike pompeo. >> it seems as if tension has been building for quite some time. we know the north koreans blame secretary pompeo, and national security adviser john bolton, they think president trump want to make a deal but was talked out of it by hawkish advisers. what tipped north korea over the edge with secretary pompeo was his congressional testimony and his testimony to the senate where he talked about north korea and the denuclearization process in a way the north koreans felt was demeaning to their leader kim jong un. this is a significant diplomatic setback because pompeo has invested a lot of time in trying to build trust and a relationship with the north koreans, he has traveled to pyongyang, met with kim jong un a number of times

our manu raju is on capitol hill, and, manu, tell us what we heard from the attorney general on this new investigation. >> reporter: yeah. he said that he is looking into the conduct and the start of the russia investigation back in 2016, and he made some rather stunning remarks by saying that he believes that spying did occur on the trump campaign, but then he later walked it back on several occasions, saying that he doesn't have any -- he has no specific evidence that he could cite that there was spying. then he said he didn't know if there was any unauthorized surveillance, but he said he had concerns about the way the investigation was conducted. that's why he wanted to look into it further. nevertheless, those comments from this morning has generated a lot of attention here on capitol hill when he said this earlier today. >> can you share with us why you feel a need to do that? >> well, you know, for the same -- well, for the same reason we're worried about foreign influence in elections. we want to make sure that during an -- i think spying on a political campaign is a big deal

manu raju is on capitol hill watching this all play out. manu, big moves on capitol hill this morning. can you make sense of this all? where do things stand right now with this subpoena? >> reporter: they've now been authorized -- the subpoenas would essentially force the justice department to provide the full mueller report, the underlying evidence to capitol hill. also the subpoenas that were authorized would force records to be disclosed from five former white house officials, records they may have gotten from the white house in preparation of their testimony before the special counsel as part of the special counsel investigation over the past two years. now, the question is when will the subpoenas officially be served? jerry nadler has the subpoenas in his back pocket, giving the justice department some time to see if they will fully xloi with his requests to provide all this information before they ratchet up a fight that could end up in court and, kate, moments ago i had a chance to talk to jerry nadler and i asked him, are you open t

manu raju on the hill with the latest developments.rgument between the ranking republican and chairman nadler about the legality of all this and what happens, saying this is an arbitrary deadline tomorrow or not. what changes this morning with this announcement? >> reporter: the democrats are escalating this fight, something that could potentially end up in court if the justice department resists. the democrats are concerned in particular about the number of redactions, the categories of redactions that bill barr, the attorney general said he would seek as part of the process. in particular, they're concerned two of the four. the two involved grand jury information that bill barr said would be redacted as well as information that could impugn the character of what barr says are pir ref ral third parties. those two rather broad areas democrats are concerned could lead to a whole host of redactions which the public and congress itself would not be able to see the full mueller report. democrats have been saying that precedent is on their

let's go to our colleague manu raju on the hill. this would be one of the highest profile witnesses from within trump world to be brought to testify. they want him to come, judiciary, on may 21st. they want a lot of documents from him even before that. >> yeah, by may 7th, they want those documents. this would be a rather dramatic moment if he does comply with the subpoena, if he does testify in public, and if he does lay out what the mueller report showed his central role and knowledge about some of the activity that took place in the trump white house. some of the controversies, including the president apparently directing mcgahn to fire the special counsel, and mcgahn turning around and saying he would not do that, he would rather resign than cause another saturday night massacre. how much of that will be detailed if he does ultimately come here? that's still a question. the mcgahn camp has not commented yet since the issuance of that subpoena last night. but this is all part of what the democratic-led judiciary committee wants t

. >> cnn's manu raju joins us now live from capitol hill, a contentious morning, manu, where are we going from here? >> reporter: yeah. expect subpoenas to be authorized soon by this committee, the house oversight committee going to vote soon this afternoon to authorize a subpoena and compel the appearance of the former director of personal security at the white house carl klein to appear to answer questions. he, according to the woman trisha newbold who has come forward that comes calls a whistleblower, mr. klein overruled her on a number of occasions about the denials that she sought to issue for a variety of folks, 25 individuals at least as well as from what we understand jared kushner and ivanka trump. the question is exactly who told him to override those concerns. what was the process that was actually followed. the democrats are pushing their concerns that this is a systemic problem within this white house, lax safeguards for classified information, lax safeguards for providing security clearances so democrats are trying to push forward on that investigation. they say that this wh

let's begin with our senior congressional correspondent, manu raju is occuup on capitol . ma jon manu, the white house says the whistle blower came through as a last resort. >> reporter: this woman has worked for the white house in different administrations for the past 18 years. now as part of the personal security office in the white house, she is alleging in a private interview to house and republican and democratic staff on the oversight committee that since 2018, 25 individuals had their security clearances denied, only to be overruled by the white house. now, we are learning that jared kushner and ivanka trump were on that list of 25 individuals. n newbold alleges to the committee that these individuals had their security clearances denied because of foreign influence, potential conflicts of interest concerning personal conduct, financial problems, even drug use. she alleges that lackluster safeguards are in place for security clearances and people had got interim security clearances who should not have gotten access to any classified data whatsoever. now, elijah cum

there is the other issue manu was getting to about the president's tax returns.e what's happening in congress. they're looking for his federal tax returns. then his acting chief of staff saying democrats are never going to see the tax returns despite their efforts. in addition to that, now you have new york state is making a related but different play when it comes to trump's tax returns. introducing a bill today in the state legislature that would allow essentially new york tax officials to hand over state tax returns basically anybody's, to leaders of these key congressional committees. where are you on this? is any of this going to work? >> now there's two avenues for democrats to get trump's tax returns. there's the existing federal avenue, and now if this new york statute passes, it will be a second way around it. i think the federal law is good enough. i think it's pretty straightforward. i think mick mulvaney is straight up wrong when he says the law is against the house ways and means committee. whenever you're doing a legal analysis, you have to start wi

also, manu, michael cohen writing a new letter to congress. he wants a little more time. what is he asking for specifically? >> yeah, he says that he is urging, his lawyers sent a letter to congressional committees yesterday, democrats in particular, saying that he needs their help to persuade the southern district of new york to delay his jail time because according to this letter from cohen's attorneys, he has more information that could be helpful to their investigation. some files that he discovered on a hard drive, apparently could be helpful to what the democrats are investigating on the hill. he laid out a number of things he could be helpful in. and in this letter, it says this. it says we hope that this memorandum demonstrates that mr. cohen needs to be readily accessible and immediately available to provide ongoing assistance to congress in order for it to fulfill its executive branch oversight responsibilities. erica, no word yet from democrats about whether they will agree to try to persuade federal prosecutors to delay jail times. republicans pushing back say

joining me is manu raju., this is quite a strategy by the white house here, saying they're going to refuse all subpoenas from the house. now run by democrats, raising a whole host of legal and constitutional questions. how are democrats going to respond? >> expect a lot of court fights over the subpoenas. in the case of stephen miller, that was a voluntary ask for this committee to say, chairman cummings to say, look, come and testify about the immigration policies since you're central to the key policies of this administration. but the administration in a letter to this committee said no thanks. they said instead they'll put cabinet secretaries available, not stephen miller. but in the cases of subpoenas, that's a completely different question. those are intended to compel these witnesses to come forward, and at least two occasions this week, the administration has moved forward to instruct people not to attend and comply with the subpoenas, including just moments ago in the room behind me. john gore, who is