for more on this story we have marty shanker, and our editor at large, cory johnson. ese ceos came to the they wanted to step down themselves and then trump does this. what is your reaction to how this all unfolded? marty: it was a very bizarre scene where you had ceos trying to jump ship after the ship had failed. we had broken the news that the disbandinguncil was and would tweet the white house. donald trump tweeted his tweet you showed and then ceos continued to resign from a council that was disbanded. it was a rush to the exit. they thought it was vulnerability to associate themselves with these councils. emily: a lot of questions why it took these ceos so long to come to this decision. there was one opinion on this. take a listen. ceosthink there are some that fear the president's retaliation against their company. if they resign. that is why i advised a number of ceos that asked me not to councils.dent trump's i told him i think things will happen with good probability that will make you want to resign. emily: the committee did ultimately decide to disband. we

vonnie: marty shanker, there are 12 is slated days in september. can congress go its own way and get something passed at least in the month of september? marty: they had better. they don't want a government shutdown. vonnie: well, maybe they do -- we had one in 2011, 2013, 2015 -- it is about time for another one, no? marty: yeah, and donald trump would probably agree with you -- maybe it is time to get this out in the open. i think both democrats and republicans in the congress say they do not when a government shutdown. steve mnuchin does not want one. mulvaney does not want one. so, if they somehow reach one -- some deal, they could probably get it done in that short amount of time and then they can move on to the budget. vonnie: yeah, so we have a continuing resolution, toluse olorunnipa. let's take that as our base case. the president wants to talk about infrastructure. the house wants to talk about tax reform. you know, where do we start? toluse: well, if you take the press conference on tuesday as an example, that is, sort of, what we have se

our thanks to bloomberg chief washington correspondent kevin cirilli, marty shanker, and bill cohan.will continue to follow this story throughout the afternoon. this is bloomberg. ♪ this hour, news at reports that white house chief strategist is out. let's go to craig gordon. shanker, i want to start with you, craig. get us up-to-date with what we know. newe are reports from the york times that steve bannon is leaving but there are conflicting reports about what gave rise to this. >> a personnel move is only donald trump can do one. he seems to be saying to the new york times, that bannon is on his way out. the timing and circumstances are unclear. we've seen this before with trump. he is seen as being reluctant to fire people, even those who have let him down and ban and then it seems to be on his way out in a weird state of limbo. david: something else we have seen before, it is not clear whether he is jumping or he is being pushed. here were also reports that turned in his resignation a couple weeks ago. >>

marty shanker, let me start with you. kevin cheng saying the company is not in the business of politics, but some of the companies measure -- how could kevin plank have stayed on this counsel? >> well, it is a question of principle versus business interests. there are some ceos who have decided they are going to say because they want a seat at the table to influence the president. obviously, kevin plank has other noticeablynvolved, sales. he has to worry about the potential for more karting his products over this issue, said he decided he could not stay. >> kevin come let me turn to you have proposed a similar question. intel has customers all over the world. did the ceo have to pull himself out of this controversy? >> i think with the interesting point is to make is the timing of those recognitions from the manufacturing and business council. it became following the president's remarks on charlottesville in which he denounced these domestic hate groups as well as neo-nazi groups. what is interesting is following the pres

joining us from our washington marty shanker. going to ask you whether trump has fired back and whether he really cares about these resignations. do we have our answer in that sweet? -- that tweet? by thehe is annoyed narrative that these ceos decided not to associate themselves with this president and he doesn't like it. he could have stopped and said there are many ready to take their place, but he didn't. he decided to take a swipe at them as green standards. randstanders. are steppingeos away from that council, does that mean they don't care about creating jobs in america? marty: it is kind of silly. if you just look at ken frazier, an impassioned, principled reason for why he was stepping off the council. i think most people would respect that and move on. this is a president who does not suffer wounds lately and decided he would try to change the narrative. it was a very strange word to use as if they were looking for attention by responding to political events in the absence of other portions of society responding to the e

for the latest developments on this ongoing story, we have marty shanker. also is cory johnson. e ceos came to the conclusion they wanted to step down and then trump says this. what is your reaction to how this unfolded? marty: it was a very bizarre scene where you had ceos trying to jump ship after the ship had failed. we have broken the news that the advisory council had been disbanning. tweet trump tweeted his you showed and then ceos continue to resign from a council that was disbanned. was a poort it ability to associate themselves with these councils. emily: what the questions about why some of the ceos took so long to come to this decision. earlier about this. take a listen. fearere are some ceos who the president's retaliation against their company if they resign. a numberhy i advised of ceos who ask me not to join president trump's counsels because i told them i think things will happen with good probability that will make you want to resign. they did ultimately decide to disban. got a statement that thing a debate has become a distraction of our well intentions and desi

david: marty shanker, thank you very much. on that news that the u.s.going to close the consulate general in san francisco and a couple chancellor -- chancellery annexes. promising a proposal of cumbrian's of tax reform soon -- comprehensive tax reform soon. plus, brian moynihan. what he says about the prospects for tax reform, next. this is bloomberg. ♪ david: welcome back to "bloomberg markets: balance of power." mark crumpton has the first word news. mark: nearly 2 million texans have been evacuated due to harvey that's according to elaine duke. and there in shelters goal is to move people from shelters as quickly as possible. happened crested yet and may peak by saturday. full people are dead and 14 others injured after a five-story building collapsed in india's financial capital of mumbai today. another 25 people are trapped in the debris. helped pull 13 people out of the rubble. buildingsof mumbai are more than 100 years old. they are reportedly at risk of collapse following the heaviest rainfall the city has witnessed in more than 15 years. local

shanker in in marty washington.re still 18 or so members of this manufacturing council, and clearly, ken frazier was one of maybe three ceos of color on that counsel. that's not lost on the president here. whatesn't seem to matter business leaders come out and say something, there aren't other business leaders following suit. no.y: there have been a few that stated they are not happy with some of president trump's policies on climate change, immigration, but there's a split in the corporate ranks on whether or not it makes sense to withdraw completely from the conversation or to try and stay in change the dialogue. obviously, ceo fraser decided he couldn't stay. vonnie: when will we get the first polls on all of this and president trump's approval rating, particularly from his base? lawmakers are at home were on vacation during this time, so we have had some response, but you can call that limited. marty: it's been somewhat muted, although there have been people at lindsey graham who needed a points to speak on beha

thank you marty shanker. mark: moving on, we are watching the european close. posting its first half-year profit in three years. see what the bank cfo told us about the results and its plans for brexit. this is bloomberg. ♪. vonnie: live from bloomberg world headquarters in new york, i am vonnie quinn. mark: i am mark barton with the european close which is nine minutes away. rbs is reporting its first half-year profit in three years but the bank is still cautious going forward. manus cranny spoke with the cfo ewen stevenson. >> these were very good results and we are encouraged by the progress we are making. the second quarter of bottom-line profits and six months in a row since 2014. we know that we've still got adjustments. we would aspire to get that settle this year and if we do that, that could push us to a bottom-line loss. >> how big a possibility is it that you get the doj out of this? >> we would love to get it resolved. we've got a further update today. ppi has no more provisions. are we done? >> we took about 600 million dollars of provisions into l

david: marty shanker, senior executive editor of government and economics joining me today from washingtonook ahead from the chief correspondent in washington as the president takes his case on tax reform to the american public. this is bloomberg. ♪ david: this is "bloomberg markets," balance of power. i'm david gura, just after 4:00. to watch thise press conference on bloomberg television and listen on bloomberg radio as well. it marks the beginning of a busy week for the president. we bring in kevin cirilli. a moment ago, the president sat down with the secretary of state after that exchange with chris wallace yesterday. he has to meetings with the finnish president today. address thet him to thing going on in texas? we are definitely hearing from president trump this afternoon on his admin's rations effort to see and help what's in the horrific flooding going on in texas. the president will head to corpus christi tomorrow, where he will be on the ground seeing what exactly the damage from now tropical storm harvey has done to the area. from there, he will head to missouri, and is antici

david: many thanks to executive editor craig gordon, marty shanker. thank you all very much for joining us from washington. now let's get perspective from brad. he has been in the white house. he was deputy assistant to president george w. bush and joins us on the phone from delaware. thank you for joining us. >> my pleasure. david: give us a sense from inside the white house how seismic shift this is? >> the last month has been seismic. the chief of staff leaving, the press secretary and now the chief strategist. that is a pretty severe shakeup. i think it is right to do it now in the summer and hit the ground running after labor day. 2017 must be a year of action for the president. on major have a win promises that he delivered to the american people on taxes. one of your guests just mentioned, the looming debt crisis. we have to raise the ceiling, approve a budget -- there are a lot of things that need to be done. the president has to have the team around him by labor day in order to accomplish these goals. david: to what extent do you think, brad,

david: that is marty shanker. thanks so much.to the session after yesterday's big moves higher on the s&p 500, down by almost one full percentage point. we bounce off the lows for u.s. equities, down a quarter of 1% on the s&p 500. the euro-dollar advances. it is a weaker dollar story against the euro and the yen. ♪ >> is 10:00 a.m. in new york. i am vonnie quinn. marks: live from london, i am mark barton. welcome to "bloomberg markets." ♪ vonnie: u.s. stocks open lower as the president threatens to debtdown the border wall over the border wall. more on that in a moment. first, here's abigail doolittle. abigail: a big miss for them month of july. in attual number came 570,000 homes. this is not entirely surprising. we are certainly seeing this expectedn a less than new home print for the month

i was talking to marty shanker about the senator from south carolina, you have got to explain to me howave the legislation that you are expert in, when we have the debates that you are expert in. this kind of tweeting doesn't affect to that debate? does anddefinitely senators have long memories. the president continues to treat -- the senate in particular as it is a subsidiary of the white house. it is not. at best, it is an equal partner and it may be a competitor. tom: bring up the must read. this goes to the heart of the matter where you got a politician such as senator graham, whatever his politics is , dealing with washington and the idea of a dealmaking swashbuckling entrepreneur. here is a great mmr, a morning must-read from "the epidemic," "i confess to minimal private academic."the ♪ ♪ -- stan: you need to have a reservoir of good feelings you can call on. he needs to be able to go to lindsey graham or any other senator and say i know you were not with me in the past, but i need you with me now and have them go with the white house. it's not clear to me he has that kind of clou

joining us is marty shanker.nge that conversation? >> i do not think he really has. maybe talking is not the answer, but i do not think tweeting is either. he has obviously looked at all the options that the military has given him. of talking is not the answer, there is only sanctions and military action, and the latter, as we all know, could lead to a disaster of biblical proportions. he has change the narrative for there wasinutes, but some feeling of normalization in the days ahead of this tweet, and it is looking like the markets are going back to that, so i do not think it is changing. alix: yesterday, the white house official response to north korea and the missile that flew over japan was very measured. and then you get the tweets. how do we understand that? >> i think you have to understand it, and we and others have written about this -- general kelly has imposed some very clear discipline on this white house. , thatas the whole plan the next time north korea took a provocative action, there would be a m

joining us is marty shanker, a senior executive editor. tuesday, where do we go from there? next: let's see what the 10 minutes brings. donald trump has been tweeting, and going after amazon, just done before, which is the owner of the washington post. amazon did take a quick hit but recovered. the issue was not without some substance. they have been in tax trouble in europe and there retailers who think they have an unfair advantage. david: didn't amazon say they would be in favor of federal internet tax or something? marty: they did and have begun collecting sales taxes in every state that has on. they have been trying to thread the needle. donald trump bringing it up in a tweet might not mean anything for them but it does bring that issue to the forefront. david: does it mean anything to the president he is losing ceos? does he care? marty: he says he does not care and there are tens willing to take their place. any president that alienates the business community, and a president who describes himself as her business, is not a great --