check onlet us get a the bloomberg first word news with mark crumpton. rk: theresa may is optimistic about securing a deal that works for britain and the eu after brexit. this is despite reports about cabinet infighting. the process will not always be smooth. can go about these negotiations in a constructive way in the spirit of cooperation, and with our sites set on the future. mark: may also reasserted her brexit commitment under a two-year timeline. speaking in kentucky today, said heid -- pruitt will withdraw the plan to curb greenhouse gas emissions. officials for catalonia continue to push for independence after a referendum. spain's government called it illegal. sunday, thousands marched in barcelona, demanding it remain a part of spain. a newly disclosed email on the 2016 meeting between donald trump jr. supported lawyer's claims in the washington post. documents said that trump jr. knew the meeting would provide damaging information on hillary clinton. global news, 24 hours a day, powered by more than 2700 journalists and analysts in over 120 cou

let's get a check on the first word news this afternoon with mark crumpton. mark: president trump says the united nations has "tremendous potential," but it has not been used over the years as it should be. the president spoke with a secretary-general, antonio guterres. -- praiseotect antonio guterres's leadership in the. iraqi forces are gaining -- glaring victory over forces in the city of raqqa. it is a major defeat for islamic inte, who captured raqqa 2014 but has seen its territory steadily shrink since last year. in kenya, police say four people have been killed in opposition demonstrations this month. officials say they are concerned about the potential rise in violence as the country's presidential election approaches . earlier this week, human rights watch and amnesty international accused police of killing 67 people in opposition protests in the days after the august election results were announced. in demands -- in japan's monday, results on shinzo abe's party is expected to lose the majority. the biggest impact would be that shinzo abe would find i

mark crumpton has more. shooting is being called the deadliest ever gun attack in the united states. the nevada governor spoke at a press conference. there is a lot to learn. from this despicable act. i am very angry. we can learn. k: he joined president trump in praising the actions of first responders. .8 people were killed they were attending an outdoor music festival. 500 others were wounded. the gunman killed himself at the mandalay bay hotel and casino. isis is claiming responsibility. the fbi special agent agent in charge says that hasn't been verified. >> we have determined no connection between isis into this investigation. we will continue to work to ensure this is factually and thoroughly and absolutely investigated. mark: authorities say they believe the suspected shooter acted alone. k'sw motive is is still unknown. president trump says he will travel to las vegas on wednesday to meet with first responders. in remarks this morning, the president congratulated local authorities for their response

let's get your check on the bloomberg first word news with mark crumpton. rk: rex tillerson made an afterunced trip to iran returning from a surprise visit to afghanistan. he went with the president and said there is a place for moderate elements of the taliban in afghanistan's government. he also said america's commitment to afghanistan is not unlimited. consider the current situation in afghanistan, we were talking about this a few minutes ago, and you look a few years in the past to what the circumstances were, afghanistan has come quite a distance already in terms of creating a population,brant much more vibrant government. secretary tillerson added there are opportunities to create what he calls a prosperous afghanistan society. president trump will meet with on hislippine president trip to asia . the president has been criticized for a muddy crackdown on drug dealers. he threatene to crack downd when the ambassador's complaint. the top lawyers for 19 states will urge a federal judge to force the drug and -- trump administration to pay subsidies the pre

let's get a look at first word news with mark crumpton. e been all afternoon, prime minister mariano rajoy of fired the catalan government. the prime minister says he is dissolving the catalan parliament and calling for new regional election on december 1. the syrian government siege of capital suburbs is being called an outrage. he said that residents are facing what they call a humanitarian emergency, despite the truce negotiated in april to facilitate relief. images circulating of severely mounir's children "shocking." boris johnson says it is unthinkable that european union citizens living in the u.k. might the senate -- might be sent away or lose their rights after brexit. he was asked about their rights, a key issue in brexit talks. he said he cannot imagine a circumstance in which eu citizens will be asked to leave or have their rights violated after the u.k. leaves the bloc. president trump has responded to a california billionaire who has spend $10 million. he says that tom steyer has been "fighting me and my make america great aga

i am mark crumpton. scarlet: mark, thank you.ssian discussion of how facebook's coo is framing its involvement in two the election interference -- from new york, this is bloomberg. ♪ scarlet: this is "bloomberg market." in scarlet fu. julia: i am julie chatterley. time to look at some of our top stories. a pricergo says that investigation took $1 billion out of their quarter profits. wells fargo is moving forward with the u.s. department of justice. to people familiar, assets under management soared to $1.7 trillion under pimco, and that is your business flash update. probe on russian influence in the u.s. election is putting pressure on tech companies like facebook, twitter, and google. we will send it to san francisco where emily chang is standing by with more on that another big tech stories. emily? emily: looking at sheryl axial's speaking at the conference this week. i am joined by our executive editor, brad stone and i want to start with facebook. sheryl sandberg is meeting with members of the house intelligence committee,

mark crumpton has this. mark: nate is moving its way across the u.s.mping heavy rains and bringing powerful winds as a tropical depression. yesterday, hurricane nate brought a burst of flooding and power outages to the gulf coast. as the first hurricane to make landfall in mississippi since katrina in 2005. a woman who lived in a florida nursing me that last air-conditioning during hurricane irma last month has becoming the 13th fatality linked to the home. authorities say the woman died from ailment she suffered when the rehabilitation center at hollywood heels lost -- hills lost power. the woman's husband died in september. the state has suspended the facility's license. another white house tweets is raising questions about whether president trump is considering military action against north korea. the president tweeted today that the u.s. has been giving north korea billions for 25 years in getting ash and getting nothing. he added "policy did not work." the vice president said there could be an "civil war was quote over cure cook if talks over kurd

let's get you a check on the bloomberg first word news this afternoon with mark crumpton. mark: president trump says senator jeff flake did the right thing or not seeking reelection in arizona, where the president says he didn't have a chance. president trump: he was against me from before you renew me. he wrote a book about me before i ever met him or heard his name. his poll numbers in arizona are so low that he couldn't win. and i don't blame them for leaving. i think you did the right thing for himself. presidential reporters he believes there is great unity in the republican party. u.s.ncoming flights to the will face the screening procedures that include security interviews for both visitors and american citizens. the announcement by the transportation security at fiveistration comes after global carriers, including emirates, egyptair and lufthansa said today employees will begin conducting interviews beginning tomorrow. the new rules, the end of a 120 day deadline for airlines to meet new u.s. regulations following the ban on laptops in airplane cabins. british prime

i am mark crumpton. this is bloomberg. ♪ shery: thank you. hill, how on capitol the cap to tax reform will affect big banks third-quarter results. this is bloomberg. ♪ ♪ shery: this is bloomberg markets, i am shery ahn. vonnie: the hazard the surrounding the future of tax reform could make an appearance on wall street as banks europe to kick the third-quarter earnings season. willmorgan and citigroup report results tomorrow and bank of america and wells fargo take center stage on friday. for more let's bring in our u.s. banks leader. timeve a surprise the last , remember when we got better fix trading revenues from one of the banks. which bank will surprise and verbally come from -- which will it come from? >> you could see a surprise in the trading because expectations for that business have been brought down. you have a lot of the executives talking in early september about the business being slow. you may have had a little bit of a pickup in the last couple of weeks. i think a lot of it will depend on loan growth. who o

word: let's get the first news this afternoon with mark crumpton. rk: thank you, the governor of the u.s. virgin islands says the u.s. government has hurricane response " down to a science." the governor praise the trump administration's relief efforts during vice president pence's to sink rate today. makingd the island was progress in its recovery from hurricane maria and expected school to reopen tuesday. the trump administration has had no success in repealing obamacare so it's now taking aim at some of its features. administration officials told reporters today it will give employers the option whether to cover birth control in their health care plans. it extends an exemption meant for religious organizations. bergdahl willbowe reportedly plead guilty to charges surrounding his disappearance in afghanistan. he left his post in 2009 and was held by the telegram for five years. he faces up to five years in prison for desertion and a possible life sentence for misbehavior before the enemy. thousands gathered in the streets of iraq today to pay their

i'm mark crumpton. this is bloomberg. president trump will take his tax sales pitch to pennsylvania today. we will look at the republican senators that may hold the keys to tax reform. from new york, this is bloomberg. ♪ julia: this is bloomberg markets. i'm julia chatterley. scarlet: i'm scarlet fu. we have president trump making comments during his meeting with justin trudeau. let's listen. >> we have an incredibly close relationship. two countries that are interwoven in economies and cultures and people. a good partnership and there is always ways to improve it, always issues we need to talk through. an ongoinghaving constructive relationship between the president and the prime minister is really important and i'm glad to be able to meet with you here again today. >> we will see what happens. we have a tough negotiation. it is something you will know in the not-too-distant future. we are going to be discussing nafta and defense. and originalat allies. mutual defense is very important. i guess we will also be discussing

let's get a check on the first word news with mark crumpton. mark: tropical storm nate continues to gather strength as it cuts a path to the u.s.. it is expected to hit the golf of mexico as a hurricane on saturday. chevron, bhp, and bp are among companies shutting deepwater oil gulf ins and -- in the that storm, which has left 22 dead in central america. president trump held an event to mark hispanic heritage month. -- under fireer from latino leaders under what they say is a slow and poor response to puerto rico. comeu predicted it would back strong after a long recovery. the president said his administration would not lift sanctions on the cuban government, "until it delivers full political freedom to the cuban people. " attorney general jeff sessions issued a memo to federal agencies today regarding religious freedoms, regarding the possession rising them to follow 20 principles following the justice department's interpretation of existing law. among them, employing -- employers can religiously discriminate in hiring. this is following the o

vonnie: for more on the developing story out of las vegas let's get to mark crumpton. president trump is calling last night, an act of pure evil. the president scheduled to visit the city on wednesday. today he thanked local police and first responders. -- withpeed which which which they acted was miraculous and prevented further loss of life. the president also said federal and local authorities are closely working together to provide updates on the investigation. ,t least 58 people were killed over 500 others wounded. the suspected gunman has been identified as 64-year-old stephen paddock from mesquite, nevada. there is no word yet on a motive. authorities say he killed himself when they entered a hotel room on the 32nd floor of the mandalay bay resort. claimedstate has responsibility for the attack but the u.s. national security council said it is not aware of facts to support that claim. congressman steve scalise is offering his prayers to the victims of the las vegas shooting. the house republican whip just returned to work last week after being shot at a congressi

let's get to first word news with mark crumpton. mark: u.n.mbassador nikki haley describing russian interference in the 2016 presidential election as "an act war." speaking at the george w. bush institute, ambassador haley criticize russia's efforts to "sow chaos in the recent election." president has backed a non-biting -- nonbinding senate republican plan, treating it as the first threat towards massive tax cuts. the gop deficit concerns in drive.f the tax cut according to those familiar with the matter, the move sets the stage for tax legislation that could pass later this year. in californiay cooler temperatures and light rain today will help firefighters battling wildfires. a spokesperson says that by tomorrow, crews should fully contain a wildfire that devastated sonoma county and santa rosa. flames in seven counties have killed at least 42 people and destroyed thousands of homes and businesses. rifles andce fired here yesterday to break up the missed raiders of government opposition supporters. this was despite a court ruling that renew

mark richt and has that. -- mark crumpton has that. fires are scorching northern california's wine country. 20,000 have been forced to evacuate. as many as 1500 homes and businesses have been destroyed. officials say those numbers are likely to increase. wineries and vineyards have been affected, but industry groups say it is to early to assess damage. the head of iran's if your agency is warning the united states against undermining the nuclear deal. speaking in rome, the iranian nuclear chief says international nonproliferation efforts and washington's international standing would suffer as a result. president trump has called the accord "the worst deal ever." it has been nearly three weeks since hurricane maria ravaged puerto rico and most of the u.s. commonwealth is still in the dark. the energy department says 85% of customers on the island don't have electricity. puerto rico has said it could take months to restore power. the supreme court is leaving in place the 2018 conspiracy conviction by military tribunal of osama bin laden's

let's get a check on the first word news with mark crumpton. mark: catalonia has declared independence, but now spain's prime minister has the power to hit back. the catalan parliament established its own country. the secret ballot was boycotted by opposition parties. the spanish senate gave prime minister the authority to remove catalan leaders and take over the region's government. the white house is cutting the corporate tax rate would boost u.s. economic growth over time. et repeats th assertion it would increase household tax income by about $4000. economists have disputed that. in the u.k. reaction to the sexual harassment revelations of harvey weinstein. theresa may icarus able to go forward after a newspaper reported women working in parliament have set up a whatsapp group to discuss experiences with male politicians. james mattis visited that a militarized zone that separates the two koreas today. he accused north korea of building nuclear weapons to threaten others with catastrophe. secretary mattis says president trump wants to avoid

let us get a check on the headlines with mark crumpton. le association says the bump stock device the las vegas bjecter used should be "su to additional regulations." the nra said the bureau should immediately review whether these devices comply with federal law. the white house press secretary -- >> we know members of both parties in multiple organizations are planning to take a look at bump sxtoctocks. we welcome that and want to be part of that conversation. mark: paul ryan says he is looking -- open to a possible ban. law enforcement officials says dock book a hotel room in chicago that overlooked another festival with thousands of context -- concertgoers. is providing a push-era crime-fighting strategy that emphasizes gun prosecution. previousfor regulations on street violence. this cracks on games that communities. the justice department is asking a federal judge to throw out ace to challenging president trump's proposed ban on transgender is in the military. they say this is premature because details are still being worked out. globa

here's mark crumpton.d senator ben cardin says the executive order signed by president trump today to allow consumers to buy health insurance across state lines won't save them any money. senator cardin spoke to bloomberg tv. make matters to worse for those in the individual market with premium increases. it takes healthier people out of the pool making it more expensive for those that have no other options. the president is once again taking steps to try to undermine the affordable care act. >> officials say could take months for the changes to kick in and may not be finalized in time to affect coverage for 2019. french president emmanuel macron is launching the second phase of his labor market overhaul. he met with french workers and labor unions today to kick off negotiations that are expected to last for months. the discussions come as protests continue across the country over the first set of measures president macron signed last month. e rules ke it easier for firms to hire and fire. they also cut th

to mark crumpton.aking of the back-and-forth, the secretary of state rex tillerson will stay on the job despite being criticized by president trump for his diplomatic overtures to north korea. is a strong ast it was the day i set that offer to serve as secretary of state. >> the president says secretary tillerson was wasting his time trying to make it directly with -- he considered resigning over the summer and referred to the president in a derogatory manner. today, president trump in las vegas said he had total confidence in secretary tillerson. airstrikes on syria have critically wounded and al qaeda leader. 12 commanders were killed, russia has backed president bush , and alide since 2015 qaeda linked insurgents. the death has been reported falsely in the past. his turkey's president by side, the iranian president today claims they would insure borders in the region remain unchanged after the independence referendum in iraq. the referendum passed overwhelmingly last weekend was opposed by both iran

let's get a check of the bloomberg first word news with mark crumpton. mark: attorney general jeff sessions is defending the trump administration's travel ban as an important tool in fighting terrorism. sessions testified today before the senate judiciary committee. jeff sessions: the presidents executive order is an important step to ensuring that we know who is coming into our country. necessary, order that we are proud to defend. mark: session says he is confident the justice department will prevail in its efforts to defend and enforce the ban. secretary of state rex tillerson says the u.s. and india need to be quote the eastern and western begins for what he terms and international order increasingly under strain. tillerson advocates a stronger relationship based on shared goals of security, free trade, and counterterrorism in the indo pacific. quoteo criticized china's provocative actions in the south china sea, which tillerson says directly challenged international law and norms. kenya's presidential vote is a days away, the country's top election o

let's check in with mark crumpton. mark.land president has suspended the region's push for independence to that -- the atalan president has suspended the region's push for independence from spain. of the nations leading gun-control groups is suing the makers and sellers of bump devices used by the las vegas gunman. the brady campaign to prevent gun violence says it is filing the lawsuit on behalf of victims to pay for counseling and other treatment julia. devices replace the stock and pistol grip of a semiautomatic rifle and allow the contentment -- and allow the weapon content to fire continuously -- and allow the weapon to fire continuously. bump stocks were used by las vegas gunman stephan paternot. at least 13 people are now infirmed dead in wildfires the california wine country. 20,000 have been evacuated to read as many as 1500 homes and businesses have been destroyed. officials say in those numbers are likely to increase. wineries and vineyards have been affected but industry groups say it is too early to assess the d

mark crumpton is your with the latest. mark: tropical storm nate has killed at least 20 people in central america as it strengthens into a hurricane and threatens the u.s. gulf coast. the national hurricane center says nate leaves behind of the 20 inches of rain, causing severe flooding. it could hit southern louisiana as a hurricane this weekend. attorney general jeff sessions issued a memo to federal agencies today regarding religious freedom. it advises them to follow 20 principles based on the justice department's interpretation of existing laws. among them, religious employers can discriminate in hiring. a memo explains the executive order president trump signed in may which was seen as a thank you to the religious conservatives who helped him get elected. british prime minister theresa may says she has supported her cabinet espied a campaign to remove her. they told reporters for the country needs is called leadership, and that is what she has provided. of fiveaps says a list former cabinet members who support his cam

here is mark crumpton. house approved bipartisan legislation to impose new sanctions on iran. the bill looks to penalize tehran for its support of -- its pursuit of long-range ballistic missiles while still keeping the nuclear accord largely intact. lawmakers want to hold a run accountable for what they call destabilizing behavior in the region. steve mnuchin is in israel where he met benjamin netanyahu. netanyahu thanked mnuchin for the support of the united states and the trump administration while mnuchin said the u.s. does not have a better partner in the region than israel. mnuchin is in israel for three days. the leader of catalonia said he will not call regional elections that might have result of the crisis with the spanish government. the spanish president accused the government of trying to eradicate the region's traditions. the prime minister wants lawmakers to give him the power to remove -- over his threats to declare independence. -- is out as manager of the new york hankies. he will not return

mark crumpton is here with more. rk: secretary of state rex tillerson says president trump will not with draw from the iran nuclear deal or reimpose sanctions. the president will say the pack is not in u.s. national security interests and alert congress to amend it. you can watch the speech live in just a few moments at 12:45 p.m. new york time right here on bloomberg television. the president assuring residents of puerto rico he "will always be with them." is tweet comes a day after he lashed out at the island, insisting the federal government cannot keep sending help forever. he took a softer tone today, saying the wonderful people of puerto rico have been unmatched. the latest brexit talks ended and a deadlock, in the u.k. is hoping european union leaders will bailout prime minister theresa may at next week's summit. according to a top official, there is little appetite to make any concessions to help prime minister may. european leaders are expected to make it clear they will not be any trade talks unless there is

a check of thet first word news with mark crumpton. e state department is warning countries and companies they risk u.s. sanctions if they do business with more than three russian entities. the list oflished businesses and individuals linked to russia's defense and intelligence agency nearly a month after it was due. the penalties were required by sanctions bill congress passed in july and president trump recently signed into law. that was in response to kremlin interference in the u.s. presidential election. president -- the cap the --catalon - catalon president says independence was a long time coming. this is a first stop and the great majority of politicians fulfilled a mandate which was validated by elections. the parliament voted today to establish its own country with a secret ballot boycotted by opposition parties. the senate voted in favor of granting the prime minister the authority to remove catalan leaders. his spokesperson for the u.s. led coalition says he incorrectly announced a cease-fire between the iraqi central govern

i am mark crumpton, this is bloomberg.a recap of the market action, the dow above 23,000, up zero point 7%. it was the outlier, and that is a result of third-quarter earnings. american express reported results and the boosted outlook for the year. is the news for amex chairman is retiring effective february. he is stepping down and making way for the current vice chairman who will take over on february 1. united takeover of continental, but we will go to ebay first. julia: you can come back to that. we have got disappointment in the markets, ebay is now down. revenues actually were a bit better than analysts were expecting. the problem is the forecast below for the fourth quarter, eps at $.57 to $.59. the consensus was towards $.59 and $.60. that is accounting for disappointment in the markets. scarlet: let's look at united continental. a little changed after hours trading. beating analyst estimates by three cents, revenue in line with what analysts had been looking for. down 3% innue it is the third quarter. for the fourt

here is mark crumpton.ass shooter stephen paddock did not plan on killing himself following his deadly rampage. investigators searched his hotel room and say they found a note. they say he was planning to escape. he committed suicide when police stormed the room. 58 people were killed and hundreds more wounded in saturday night. today is the deadline for the so-called dreamers to renew work permits. undocumented immigrants brought here illegally by their parents followed by the daca program which president trump wants to end. about 40,000 dreamers want -- have yet to turn in the paperwork. members of the party are calling for theresa may to step down following yesterday, which has received much criticism. conservative party members, expressing concern over her leadership and say they want her to resign now rather than leave the party -- leave the party to defeat. say -- istorm nate sitting off the coast of nicaragua and on track to make landfall anywhere from louisiana to the florida panhandle next week. co

let's get back to the first word with mark crumpton. john paul younger says that talks are on hold until the rice of the citizens are ensured that a financial's -- settlement is reached. he discussed the matter with theresa may last week. he brushed aside media reports desperate for eu help. at fort bragg, bowe bergdahl goes before a military judge who will decide if he gets life in prison for walking off his post in afghanistan. he pled guilty to desertion and misbehavior before the enemy. the hearing is expected to take several days. "the new york times" reports that the cia is expanding secret operations in afghanistan, of their the move increase role in the trump counterterrorism policy. cia officers and contractors are joining with afghan forces to hunt and kill the tele-man. --spain, m specialists tilane and --cat separatists taking over government holdings. lawmakers could meet thursday to vote to declare independence. global news, 20 four hours per day, powered by more than 2700 in 120ists and analysts countries. i'm mark crumpto

i'm mark crumpton. this is bloomberg.he white house announcing president trump will lead a moment of silence later today. kevin cirilli is joining us from capitol hill. tell us what the president said earlier today when he spoke to the nation. >> it was an active. all -- it was an act of pure evil. -- to assist with the investigation and they will provide updates as to the investigation and how it develops. david: joining us from capitol hill is kevin cirilli and margaret joins us from the white house. this president has not had experience delivering marks -- remarks like these. his predecessor did. what can we expect to see from him when he travels to las vegas on wednesday? >> this is an important test for president trump. with ahis team responded carefully crafted and meticulously read statement that was put through a teleprompter. important for the president not to ad-lib on this but to offer a vision of unity and comfort and consolation. there will be time for the other inevitable debates later and to some extent the

i mark crumpton. this is bloomberg. abigail: thanks, mark. up next, the fed is not focused.et yellen may have gone -- why janet yellen may have gone from zero to hero. this is bloomberg. ♪ ♪ this is "bloomberg markets." i'm abigail doolittle. it is time for the bloomberg business flash, the biggest news in the story now. in the opioid case, junko por has been arrested and charged with racketeering conspiracy and other felonies. former managers are accused of bribing doctors to write excessive prescriptions for the opioid fentanyl which has been primarily for cancer patients. he is scheduled to appear in court later today. nike is expanding -- expanding its yoga line to improve growth. it will compete with lululemon. open studios in stores on november 1. the athletic retailer will send -- spend more on product development such as items on sports bras. that is your business flash update. central banks in focus take here the european central bank announcing it will cut its bond buying all you in half starting january. this is a first step toward ending the program that has been

i am mark crumpton. this is bloomberg. ♪ julia: live from bloomberg world headquarters in new york, i am julia chatterley. scarlet: i am scarlet fu. joe: and i am joe weisenthal. julia: we are looking at six straight weeks of weekly gains. joe: but the question is "bloomberg markets --"what'd you miss?" ourlet: we will speak with guest talking about big data analytics from wall street. illinois's governor will join us in an hour to discuss how he is developing an education to entrepreneurship project and how that could get amazon's attention. julia: happy friday. "what'd you miss?" momentuma theory that investing can produce severe your returns, but does it work in practice? the chairman of research noneiates says that outperform the benchmarks, and he joins us to discuss his white paper. thanks. talk us through the study. this is i wore at her in -- this is i watering. momentum is thought to be one of the most reliable factors in investing, and on paper, it is. or if you're sampled -- if sample sizes la

i am mark crumpton. bloomberg. ♪ scarlet: ibm reporting its third-quarter results. the numbers are such that operating eps beat analyst estimates by two pennies. billion versus the estimate of $18.6 million. it does appear revenue has broken the streak of 21 straight quarters of declines. you have to consider the fx part of the equation. growth margins slightly weaker than what analysts were looking for, they were looking for 47.9%. ibm's this is 45% of overall revenue, coming in at $34.9 billion, coming up 10%. it be cash flow expectations, to. are they expecting a whopping fourth quarter to maintain that eps? anurag: these are good numbers, given what we saw last quarter in every area. you see slight improvement, cloud revenue is up. thisnumbers from ibm at point. scarlet: ibm routinely beats profit goals. tend lot of these things to come from things other than organic growth. deals, moreensing effective tax rates, kind of a one-off. anurag: it has been the story for a while. it is a very big ship tryi

i'm mark crumpton. this is bloomberg. cover story of the new issue of bloomberg businessweek profiles a lawyer who beat big tobacco. he is now targeting the opioid industry. details is bloomberg. ♪ marty: this is bloomberg markets: balance of power. i'm marty shanker. i'm shery ahn. plunging today are the shares of the nation's largest student services. this is the worst performer in the s&p 500 since its ipo 2014. behind this is a lawsuit. they service student loans. this means they basically act as between theiary federal government and students. coming from2% federal student loans. relative to private loans that represents ones that originated some time ago and 46% business processes for various industries. relative to that lawsuit it is the pennsylvania attorney general josh shapiro accusing the company of widespread abuses . this is similar from the consumer financial protection agency and the state of illinois and washington back in january. investors really not liking it. marty: how has management reacted? >> they

i'm mark crumpton. this is bloomberg.ourth round of nafta negotiations are underway in washington where covidien prime minister justin trudeau will arrive at the white house any moment. business leaders are concerned that trumps opening bid is a strategy to derail the talks. the administration has a list of poison pills that has the mexican economy minister lamenting there is life after nafta. we are joined by tim keeler now. thank you for being with us. how seriously should we take a speculation that president trump is using this strategy in order to derail the talks and eventually have a justification to withdraw from nafta? >> i don't think that's what's going on. there is certainly high-stakes negotiations. very clearly does not like the current nafta agreement. the fact that the u.s. proposals would make dramatic changes to nafta to me is not that big of a surprise. i don't think they are poison pills. they are also initial proposals in a negotiation. shery: how real is the threat given that he needs support from con

mark crumpton has first word news. president trump will announce his chair reserve nominee before leaving to asia, according to a white house official with knowledge of the plans. he is working with a list of five names to lead the central bank, including current chair janet yellen, whose term ends in february. it requires confirmation by the u.s. senate, a process that could take months. to aenators are opposed plan that would resume federal subsidies to help insurers. tennessee republican in washington state democrats have a "basic outline of a bipartisan deal that would continue payments for two years." president trump blocked the obama era decision that paid insurers for reducing the out-of-pocket expenses for low income customers. officials say european union funded projects that provide cash assistance to the most vulnerable refugees in turkey has reached one million beneficiaries, when you're after its launch. the program provides that the cars to the most is the managed families, allowing them to buy food and me

i am mark crumpton, this is bloomberg.till awaiting a live press briefing from the las vegas news department with an update on sunday's shooting. we will bring that to you live, once up against. in the meantime, the president has made his visit the puerto rico and is on his way to go into las vegas to take stock of the scene there and meet with first responders. julia: he did talk about the situation when he arrived in puerto rico. he was speaking to reporters and said, we will talk about gun laws as time goes by. he did say the las vegas shooter was a sick individual. clearly on his mind and he will be going to las vegas tomorrow. joe: the police briefing comes amid an extraordinary number of questions about just what happened. very little insight if any, into the shooter's motive has been revealed. how theee of planning, weapons were pertained to perpetrate this attack, just an extraordinary amount of unanswered questions going into this press conference. a lot of things we want to be finding out. julia: a lot of unanswe

i am mark crumpton. this is bloomberg. julia: live from bloomberg world headquarters in new york -- joe: i am joe weisenthal. julia: the s&p 500 heading for its first retreat in nine days. call it consolidation, please. investors coped with geopolitical tensions. obviously, the weather report. sorry, the labor market report. joe: the question is, what is it? scarlet: the headline number could be overshadowing the strength of the liver market. shedding jobs, but wage gains picking up steam. what does the future mean for the fed? an international economist weighs in what members of the fomc short list would mean for monetary policy. trump's big threat -- he is doubling down but not using any clarity. a drop in payrolls, but also rising wages. let's bring in the chief international economist for deutsche bank. whether aspect. we know he is a dove, but he is saying the market is too nonchalant. >> the report showed that 1.5 million workers did not show up to work because of bad weather. it is a lot. if you t

i am mark crumpton, bloomberg television. shery: coming up on the show, media and wellness mogul barry on of thrive global joins us live from laguna beach on how to improve workplace culture. this is bloomberg. ♪ ♪ back. welcome this is bloomberg markets. i am shery ahn. vonnie: i am vonnie quinn. president trump set to announce his pick for the next chairman of the federal reserve before leaving on his trip to asia early november, according to a white house official. asmp will announce his pick the next federal reserve chair before leaving in early november for an asia trip, according to a person in the administration with knowledge of the plan. in the wake of the explosive allegations brought to harvey weinstein, systematic problems in the workplace have become the center of discussion among business and tech leaders gathering at the wall street he read emilyence chang is standing by with a special guest. -- conference. emily chang is standing by with a special guest. emily: i am here with arianna huffington. arianna: thank

i'm mark crumpton, this is bloomberg.: thank you. secretary of state rex tillerson is heading to the middle east and south asia on friday, his latest of a medic mission focusing on the conflicts in iraq in syria and containing iranian influence in the region according to the state department. this comes after president trump's controversial decision to decertify the iran nuclear deal. the secretary of state faces global crises on multiple fronts. david gora is joined by special guest who knows the feeling. join here by a former secretary of state madeleine albright. great to have you with me here in new york. how do you begin to prioritize? you come into a job like this one, there is so much going on in the world. have you decide where to focus from the beginning? madeleine albright: i do think you have to look at what is the immediate issues to deal with. but you also need a full complement of people at the state department in order to lay out with the medium to long-term issues are so you can know what direction they ar

i am mark crumpton. this is bloomberg.ulia: with the release of the iphone x just around the corner, initial shipments of the iphone x are expected to total around 20 million units this year. it is a big cut from the original forecast. apple struggles with technical issues with components supporting the new face authentication feature. marc berman joins us now from san francisco. the problem is here? if they are having supply issues, why are they making it available for preorder in 55 different countries as of friday? mean, i think they have a strong mix of the even the eight and eight plus, low-end models that are still strong sellers. x -- for most people, it is a significant amount of money. is several car payments or a rent payment. a lot of people who are going to buy the iphone x -- the cuts are from thecant reduction reports from analysts. these are forecasts. we will have to see what apple has to say, if these are actual cuts or there is wrong information in the supply chain. ifia: there is a fear that they do not

i am mark crumpton.rg. ♪ trump'sresident donald feud with bob corker of tennessee was front and center this weekend. the president said that bob corker day to me to endorse him for reelection in tennessee and i said no, he dropped out. mying he cannot win without endorsement and also wants to be secretary of state but i said no thanks. he is largely responsible for the her rent is iran deal that horrendous-- kare iran deal. washington ism our washington bureau chief. i don't know where to start, bob corker said he is not up for reelection so he can speak his mind freely. -- alluded to the fact that he spoke to most of his republican colleagues, to what extent you believe that is the case? >> he is speaking for a fairly large number of republicans but not everyone. if you are a republican in washington, your fate is tied to the fate of donald trump and you cannot help it. they are watching a president who has had no legislative compliments, a significant -- accomplishments and trouble getting his warm pol

a check of the first word news, mark crumpton has more. mark:'s supreme court dismissed the remaining from travel ban case. the court took the action because the lawsuits challenging the original band arnel sense that band has changed. meantime, the presidents for month worldwide ban on refugees ended today. the u.s. temporarily halted missions refugees from all countries with some exceptions. they administration plans to unveil new tougher screening procedures. president trump has a broader travel ban on people from several countries, the courts of blocks at policy repeatedly. a male protester feet away from president trump as he walked the record or outside the u.s. senate chamber shouted trump is whaton, and dropped appeared to be several small russian flags in the present instruction. mr. trump was walking alongside senate majority leader mitch mcconnell at the time. it's unclear how the man was able to ask is that secure location inside the u.s. capitol building. british prime minister theresa may's cabinet is under pressure to agree o

here is mark crumpton. rk: at least 45 people remained in critical condition in las vegas area hospitals, which were overwhelmed following that mass shooting the other night. several officials say that every bed was full. authorities say that stephen paddock killed 59 people and wounded more than 500 before taking his own life. president trump and first lady melania trump are in puerto rico , which sustained massive damage from hurricane maria. the president said perrigo can be proud of the federal government's response to the despite sharp criticism the past few days from the mayor of san juan. the president and first lady met with local and federal officials working to restore power and deliver food and supplies to puerto rico's 3.4 million residents. in mexico city, three more people have been confirmed dead, bringing the death toll from last month's magnitude 7.1 earthquake to 366. nearly two thirds of the deaths were in the capital city. the quake occurred exactly 32 years on the day that a 8.0 earthqua

. ♪ mark: i am mark crumpton. you are watching bloomberg technology.s get a check on first word news. the prime minister says spain is catalanhat had e government. the governor has been authorized to dismiss the regional government and curtail the n parliament powers. any look forward into awarding of a $300 million contract. this would help restore puerto rico's power grid. zinke's >>yan hometown. >> this is something solely determined by the puerto rican government. will look forward to the audit to see if there are any other issues beyond that. mark: secretary zinke he said he lutely nothing to do with the awarding of the contract." about 75% of puerto rico remained without power. jim mattis visited a u.s.-south korean military observation post. border intoross the north korea. secretary mattis was briefed on conditions along the border --- a true salt of the korean war in 1953. the push for a diplomatic but he said there, america is prepared to military action of the north does not hold development of missiles that can strike the united states. a s

let's get a check of the headlines with mark crumpton. mark: thank you.sident trump's chief of staff surprised reporters today when he conducted the daily white house press briefing. he began by putting to rest rumors about his job security. ,> i read it all the time pretty consistently, i am not quitting today. [laughter] >> i don't believe, i don't think i am being fired today. i am not so frustrated in this job that i am thinking of leaving. mark: general kelly added that president trump is dedicated to serving the country. the president criticized harry kane devastated puerto rico insisting that the federal government can't keep sending help "forever," and he's adjusted the u.s. territory was to blame for its financial struggles. the debate is playing out in congress as the house has towards passage on a 36.5 billion dollars package. >> we need to make sure that puerto rico can begin to stand on its own feet. they already had tough fiscal problems to begin with. you have heard me talk about the legislation that is in law. we have to do more to help pu

i am mark crumpton. this is bloomberg. ♪ >> live from bloomberg's world headquarters in new york, i'm abigail doolittle. fu.let: i'm scarlet joe: i am joe weisenthal. abigail: the s&p 500 on pace for its worst day since early september. joe: the question is what did you miss question mark scarlet: -- miss? plus, taxe just -- reform remains on the present's plate as mixed signals come out in congress. we speak to a congressman involved in the debate. jeff good luck says it is a moment of truth for the bond bull market or what the 10 year yield does from here on out. the race for the fed chair has claimed another victim. president trump is set to have cohn, onceinst gary a favored pick among fed watchers, but his disagreement with the president's response to the violence in charlottesville, virginia, lowered his standing. let's bring in bloomberg's white house leader. what do you think it was, the disagreement in the relationship, tax reform, or something else? >> a combination of things. charlottesville d

i am mark crumpton.omberg. ♪ julia: gary cohn warning that clearinghouses could present a major systemic risk. he said that today the banking conference in chicago. >> we had not really figured out how to resolve a clearinghouse in the clearinghouse -- andy clearinghouse -- 278 trillion dollars of interest rate derivatives and it. -- in it. staggering numbers. anya: he said that like great modern invention, clearinghouses have their limits joining us with his perspective is bart chilton the former commission of the commodities -- great to have you here and thank you for joining us. he is not the only person to warn about this, blackrock, jpmorgan have been warning about the concentration of risk in the clearinghouses for some time. are they right, is this a future systemic risk? >> i do not think so. you have to remember that some of the large banks prefer to take on this risk themselves. they do not want their margin held over in a clearinghouse. that did not work out too well in 2008. if we look at the

i am mark crumpton. this is bloomberg.crowd a winner. a report today giving elon musk 's company a buy rating and $500 target price. is our senior analyst -- a senior analyst been great to have you. bowl -- bull.r why, why are you so bullish here? >> you have to look at the long-term opportunity. we have a secular shift in the automobile industry. towards electric vehicles. less than 10 2025, years, we think there will be 10 million to 15 million electric vehicles on the road and tesla today has 35% share in the luxury segment of the u.s. car market. they are introducing a mainstream car called the model 3, which will target a subsegment that is 10 times the size of the luxury market. i the early part of the next decade, they could be shipping north of one million cars per year. that translates to $60 billion in revenue in what we think could be a market capitalization north of $100 billion . julia: if they get around production issues. >> they have near-term production issues. scarlet: looking for $500 per .hare for tesla

mark crumpton has more. use speaker paul ryan says there is no plan for the house act soon on a national rifle association backed bill to ease regulations on gun silencers. paul ryan was pressed on the legislation today in the wake of the mass shooting in las vegas that killed 59 people and wounded more than 500 others. focused on passing the budget and we are bringing the budget up this week. reason we are bringing the budget up this week as we want to pass tax reform because we think it's one of the most important things we can do to improve people's lives. that's our present focus. mark: e-house panel pass the house wasmonth and excited to move ahead. britain's pregnant -- brexit minister says he is confident, but still planning on the possibility they may break down. he told the conservative party's annual conference that britain will be ready for the alternative, if negotiations and without a deal -- end without a deal. >> we want to start -- we will honor our commitment, because we obey the law. but we

i'm mark crumpton. this is bloomberg. abigail: live from bloomberg , were 30dquarters minutes from the close of trade and stocks are declining as the dow is learning with a new record high. >> the question is, "what'd you miss?" , microsoft and intel all report. president trump speaking last hour at the white house about the opioid epidemic in america. he called it a national public health emergency. we look at the impact it's having on the labor market. >> ingles be to nigel travis about his company's results in where his thoughts are on wages as we look ahead to next week's jobs report. scarlet: opioid abuse is now a public health emergency. on top of the human cost, opioid abuse is taking an increasingly meaningful impact on the economy, in particular the labor force. whos bring in jeff korzenik joins us from chicago. you've done some incredible work on this, tallying up the cost, the economic cost. you've tabulated it at $80 billion a year as the price tag in the united states for opioid addiction, whether lost produc