jonathan: morgan stanley this morgan, jp morgan a couple of days ago.member, i mentioned also that mr. proves on -- that each of these stories is different. no one knows that better at bloomberg then sri natarajan, who joins us now. the king of gossip of wall street. who is next? is goldman sachs going to have a shakeup? sridhar: goldman sachs has had a recent shakeup. tom: it was forever ago. come on, is goldman sachs next? sridhar: i that david solomon to some want to leave anytime soon. jonathan: the copresidents role, how on earth does that work? sri: at least at this firm, the morgan stanley today is extremely different from the morgan stanley of 10 or 15 years ago. you have a firm that is not a pure play wall street investment bank anymore. it is a wealth management arm that contributes nearly 15% of its overall revenue, so it kind of makes sense to pick someone who has charge of the entire investment bank, and mb -- and andy saperstein, who has really built a wealth management powerhouse, starting with the e*trade by, possibly the biggest bank de

with me is the ever so lovely morgan willett who took a break from her workout videos-- morgan willett: [chuckling] johnny bananas: --to actually sit down with me for a bit and enjoy some us time. johnny, last time this took us three hours. three hours of pure, unadulterated fun. you know what? i wouldn't want to be in lockdown with anyone else but you. aww. i didn't pay you to say that. oh, johnny. that line was brought to us by peacock. peacock. we have the office now. [tv static] check out the time i headed down to south florida to go toe to toe with some of the baddest dudes in the league. and listen, if any agents are watching out there, i'm a tight end who's always wide open and definitely knows how to plug the hole. [sighs] [tv static] so without further ado, morgan, we're gonna watch some sports here. [quick swoosh] [rock music] [whistle blows] johnny (voiceover): you hear that? man: [inaudible] johnny (voiceover): sounds like the start of the most wonderful time of year. - yeah, it is. it's better than christmas. johnny (voiceover): it's time for some football, baby. so, origi

>> i'm good. >> morgan? go ahead, morgan. >> what am i supposed to say?ow did it feel, morgan, to not have something on that app, on freckle, that represents you, that represents what you look like and your hair? >> i felt sad because i didn't see hair that looked like mine. >> i bet you did. and maya, this is something we talk about all the time in a bigger picture when it comes to systemic racism in this country, not to bring that word into this conversation, but it's important for girls like morgan and her sister, ellie, to have representation out there. how important is it for you and for your girls to feel as if they are being represented across all platforms? >> it's incredibly important. i know the catch phrase that everyone uses is representation matters, and that's true. there are students that need to feel represented, heard, and valid. if you're using an education platform, you should be able to see yourself in that platform and see yourself at all levels of the education system, leadership, teachers, curriculum, literature, it's pretty critica

morgan, a once-in-a-lifetime opportunity, are you in?oing this, we had champagne from the kennedy center box that i accidentally drank, and a bottle of pompeo wine from the veneer that was supposed to be a momento. my husband get so mad, i do this all the time, so if you have me over, i will drink it. >> emily: oh, my god, that is hysterical. trey, what about you? >> trey: my wife drags me where they sell into grape juice, i'm not comfortable talking about wine, but proving to me that you can get drunk for a lot less than a million dollars. to be two very true. so harris, you said on the call earlier, you have been drinking through a straw? >> harris: because i drink my wine out of a box. i just pour it into a out my straw. if you have it, drink it, what are you waiting for, were not going to live a million years. by the way, if i had a million in cold hard cash, i don't think i would spend in on that. i might spend it on getting to space. >> kayleigh: i'm a good southern baptist girl, and i would not buy the million dollar wine, but wou

i agree with morgan and buck.k to work. >> kayleigh: is amazing. coming up next, one parent's masterful takedown of critical race theory. >> you cannot tell me what is or is not racist, look at me. ♪ ♪ of life. the journey is why they ride. when the road is all you need, there is no destination. uh, i-i'm actually just going to get an iced coffee. well, she may have a destination this one time, but usually -- no, i-i usually have a destination. yeah, but most of the time, her destination is freedom. nope, just the coffee shop. announcer: no matter why you ride, progressive has you covered with protection starting at $79 a year. voiceover: 'cause she's a biker... please don't follow me in. i didn't realize how special it would be for me to discover all of these things that i found through ancestry. i discovered my great aunt ruth signed up as a nursing cadet for world war ii. you see this scanned-in, handwritten document. the most striking detail is her age. she was only 17. knowing that she saw this thing happenin

the things that they do there in morgan hill are amazing.ey family ymca, another great organization. and then we give for the campesinos and we do other things with 'em. we do other things. damian: yeah, i know. i know the efforts by sabor del valle is year round. ray, thank you so much for continuing this tradition. boy, what a way to raise funds for those who need it and also to taste some delicious wines at the same time. let's show you that information again. so it's a live auction, it's happening on june 10. you can go to sabordelvalle.org for more information. we showed you that earlier. you know, one of those auction items is at herencia, mi sueño, and maldonado wines tasting, if you will. just a fabulous event. that's by sabor del valle on june 10. up next here on, "comunidad del valle," the president of mava, the mexican american vintners association, guillermo herrera, with herencia del valle. stay with us. ray: thanks, brother. with the president of mava, the mexican american vintners association, also the founder of herencia del

morgan. we will bullet bring you -- we will bring you the details on the move as their largest bank announces their largest management shakeup in years. plus receipt -- speak to the ceo of a 3d printing company on the company's first quarter results as they share losses after 12% of forecast estimates were missed. the battle for streaming content. later this hour we speak to the ceo of audience driven content creation prop -- an audience driven content creation platform behind projects on netflix and hulu. let's take a first look at what's going on in the markets. i put the dow jones industrial average year because the s&p 500 is doing a lot of nothing, zero movement. the dow jones is falling right now. the real movement seems to be in currencies. you have got a losses in the dollar against all major trading partners, the euro gaining ground to the highest level we have seen since the beginning of this year, since january. new york crude is coming down now more than a dollar, still at a relat

it is about a changing of the guard at jp morgan and now morgan stanley.onathan: down about 0.2% on the s&p 500. on the changes from jp morgan and morgan stanley, the leaders are sticking around. still a rolling five-year view for jamie dimon, and for james gorman, another three years. tom: the markets are having the same challenge as well. we could go eight ways on first market comments, but i guess i've got to go to finally, the real yield seems to turn to a lesser negative yield. jonathan: up nine basis points in yesterday's session, and what was interesting about that? very little collateral damage in the equity market off the back of that move or get equities down just a touch. information technology, the relative outperformer only s&p 500 despite that move. tom: we had to disagree. lisa and i just not on the same page. lisa, you look at the minutes yesterday and saw a fed beginning to chat. lisa: beginning to chat about chatting. let's be clear, they are taking about thinking about talking about talking about tapering. but i think it is notable they

what is morgan freeman's favorite morgan freeman film?e directed "invictus." that may be my most stand-up movie. >> stephen: you know, a lot of people would have said "the shawshank redemption." and i was telling tim robbins when he was on the show, i've never seen "the shawshank redemption." and i said to him, "i think--" i know. that's what he said. and i said, "i think i should watch "the shawshank redemption--" i want to watch it with you and tim robbins. could the three of us watch it together, and then we could talk about it? >> you arrange that, i'm in. >> stephen: that's it! that's it! you hear that, tim? morgan's in. "solos" premieres friday on amazon prime. morgan freeman, everybody. he we'll be right back with comedian tig notaro. ♪ ♪ ♪ ♪ ♪ ♪ i couldn't imagine doing this jog without propel immune support. i prepared a short speech. i'd like to thank vitamin c, zinc, electrolytes... hey. i... propel immune support. vitamin c and zinc. struggling to manage my type 2 diabetes was knocking me out of my zone, but lowering my a1c wi

was fired through jp morgan, went to another hedge fund, fired again.ed back to jp morgan and since then it has been an incredible comeback story. now the cfo of the nations largest bank. tom: what does he bring? you look at all of the other failures, he brings prodigious mathematical skills with his chemistry. what is the specific skill jamie dimon wants from him as cfo? >> let's look at the second innings of his career when he returned to jp morgan in 2007. possibly the same date the hedge funds are blowing up. then came the 2008 acquisition. he was a junior staffer than but that is when his first interactions with jamie dimon started. making sure to avoid all of the pitfalls from the collapse of lehman brothers. he played a role in that. the antagonist and that scandal was martin, his former employer. he almost so -- he also helped jp morgan unwind some of it straight. that got a lot of acclaim. since then his career has only been on an upward trajectory. lisa: there is a cliche on wall street, if you lose $1 million you get fired, if you lose $10 bi

jp morgan is going to deploy into hong kong.f you want to give us news on that, we are taking notes. but i look at hermes, reimagining at or whatever it means, all of these micro stores are popping up in japan. michael: businesses are going to take the long-term view, and the long-term story is that rising incomes in asia is going to be the key source of growth over the next 10, 20 years. so i think that is why you are seeing lots of businesses pivoting toward those, and i don't think that is going away anytime soon. jonathan: what is the european trade fit into all of this? the price action has been positive in european equities all year. michael: europe is -- europe is benefiting in general. the dennis economy is somewhat lacking, but if you look at the daily cases of vaccinations in europe right now, it has caught up to the u.k.. so i think you will see a domestic pickup in the economy as well. whether they outperform something like the u.s., i have a preference for something like u.s. financials, but i still think european e

>> when you look at where morgan stanley is today and from where james gorman took morgan stanley , fromcial crisis and the vicious infighting, it is a much changed bank. the best-performing u.s. major bank stock in the last five years. clearly the going is good and for any leader on top, it is hard to weed yourself away when it looks like everything is going great but it does seem he is clear about the idea. the question is, if the good times continue whether he changes his mind. matt: thank you so much for joining us on the story. clearly, anchors like to read about bankers. -- bankers like to read about bankers. coming up, we will discuss the state of the labor market below the c-suite. not $10 million a year jobs, but something a little more modest. the importance of giving those in need a second chance and a fair shot, with erin stewart, cofounder of jobs.com. this is bloomberg. ♪ ♪ matt:matt: this is bloomberg: markets. today, we learned that u.s. initial jobless claims felt a fresh pandemic low signaling steady improvement in the job market as remaining business restrictions are l

morgan chase, wells fargo, amazon, and verizon. does that surprise you? ms. fraser: i can only speak for my own company. sen. kennedy: i am way over time. did citigroup take some of these subsidies? ms. fraser: i do not know. i will have to get back to you. sen. kennedy: can i ask one more question? mr. solomon, here's my question. not will we, but should we be using fossil fuels 20 years from now? not will we, but should we? mr. solomon: there is no question we have a transition going on with respect to companies. sen. kennedy: i know that but i will run out of time and our chairman is being generous. not will wait. in your opinion should we be using fossil fuels 20 years from now? mr. solomon: if the technology is available to allow us to use fewer fossil fuels and make the planet greener and safer for everyone and we can have businesses and power and energy that allows us to operate our economy efficiently, yes, that is something we should strive for. whether we would get that in 20 years, i cannot predict. sen. kennedy: thank you, mr. chairman. sen. brown

morgan stanley made that available. >> morgan stanley was the first to come out of the chute. think all the other banks are coming. it is a process. i'm optimistic because in the morgan stanley case, they have thousands, thousands and thousands of fa's that had to take a course and learn to understand how to sell bitcoin, what bitcoin was to get a deep understanding of it. and now they are talking to clients. flows continue to come in. think about that. i was one of the lone wolves that you could talk about bitcoin with, and we inherited morgan stanley salesman who are sharing the gospel. i think you will see the same at goldman sachs and jp morgan. they are growing in numbers at record pace. that can only mean good things. romaine: always appreciate you taking time to be with us, mike. mike novogratz, galaxy digital founder and ceo. coming up, a lot more to talk about. the big crunch. if you tried to buy anything, and hard drive, and mattress, a car, you name it, lumber, you are paying through the nose. that or you can't get one. one of the biggest supply crunches in recent m

morgan who are in that lineup of succession., it is mostly male and mostly white males. and at a time in 2021 when there is a big focus on diversity, it was a notable situation because there are questions about whether there are enough women high enough at morgan stanley. we had numbers at the bank for the first time and it lags some of its peers. the group of more than 1400 executives, only 18% are female. over at morgan stanley, they have been working on diversity initiatives, but in the immediate line of assent, you have more white men, and more white men then you will see at a consumer bank like j.p. morgan and now citigroup, which as the first ceo in american history for such a big bank. haidi: sonali basak, with the latest. thank you. coming up come south korean president moonset to meet president biden on friday. we get a preview from ambassador harry harris of south korea. this is bloomberg. ♪ ♪ vonnie: you are watching "daybreak australia." u.s. treasury secretary janet yellen proposes a 15% minute global corporate tax.

morgan. ed: how about the scrutiny around lending at the moment?e talked about the risks posed to deals, whether it is regulatory risks, what that does to closing certainty and duration that you see in deals. we now have a new administration. how is that changing the risk and the appetite to lend on deals? christina: we've maintained our current update as robust as it was even in 2020, when we had to support many of our clients through a difficult period. going forward, i don't think we see any great changes in the regulatory environment, and we have been able to operate efficiently and fluidly with our clients to make sure we are delivering solutions for them. even in periods of volatility like we saw in 2020, and even in periods of robust credit markets like today, i am not actually concerned about any changes to the environment. ed: we saw so much money pouring into the financial system over the last 18 months, and obviously a lot of that in the form of deposits is now sitting in the banks. one way to get that money out is through lending, which

jonathan: matthew hornbach of morgan stanley. it is normal for a research team to have different views are they get together and have a base case. as things materials -- materialize coming you wonder if we go back the other way? when you start every day talking about the same thing and it is no longer surprising to people, as some point you have to ask yourself, ok, if it is boring, is that because it is in the price? is the boat too loaded on the one side? tom: so much of it is the game of, is that in the price, is it not? we react to the news. you look at the futures today, nasdaq leading the way, up .6%, people are beginning to frame a better economy in the third quarter. jonathan: you said we react to the news, but it is how react -- how we react to the news paired what if we stop reacting to the same news? tom: then it will be the pendulum of zombies. jonathan: we will continue this. coming up, gene tannuzzo, columbia threat nido -- thread needle, looking forward to that. 4171 on the s&p. yields sunshine just desk yields unc

jp morgan's -- morgan stanley's james gorman takes the other side. people may be thinking inflation may be structural long term. the personal view is that rates are likely to rise in the early part of next year, not in 2023, which is the current production. that would be a big shift. joining us now is barbara ann bernard, wincrest capital ceo. thanks for joining us. you've got to find the deals, got to find the right pairs. how do you deal with this inflation tug-of-war on the macro side? how do you structure? barbara: so what is the market giving us? that is the only question that matters. clearly we are in an inflationary era. i don't think you can paint inflation with one brush. some segments are going to have significant more inflation than others. how do you monetize it? the answer is commodities. there is structural demand and supply imbalance. if you look at copper, for example, ev -- for example, ev car growth over the last five years is the hundred 65%. that is a trajectory that is not going to stop. so let's be smart about how do we make mo

i think morgan stanley did a nice job of pushing back against that.ny people are talking about that. when everyone starts today, you have to think how far you want to dig. we had met on yesterday. tom: i we did? -- oh we did? [laughter] lisa: attention is transitory. ♪ jon: 6:30 in new york, for our audience worldwide, this is "bloomberg surveillance." equity market shaping on, the s&p 500 up 11 or 12 points. we advance .3%. the nasdaq is up .5% after a big gain on the nasdaq 100 yesterday. to get to the bond market, twos, tens, 30's, your yield curve as follows. your tenure over the last one year, i keep doing this, breaking 160 on a tenure at 1.5910. lisa going through the bond auction later on today, seven year coming up on thursday. your two-year has not had a heartbeat for much of the last 12 months since the fed dropped interest rates. when likes of james gorman makes a call like interest rates are going to rise in early 2022, you have to start thinking about why. this is what the fed essentially offers, a forecast and reaction function. this is

morgan has a chart.nd say it looks eerily similar, the words are "this should caution any view that the worst is nearly behind us. >> oh, okay. there i feel better. don't forget tomorrow. nvidia reports they have a card meant for thooernl which is not important but the stock has been trading once again on ethereum. which is completely moronic. i've dope some work david. what happened in the usc not the end. >> we're talking nvidia now. okay just want to keep track. >> -- linear, you got the wrong guy. >> we've been working together a very long time. >> -- opposition to the deal in early april the government asked the uk's competitive competition authority the cma to open an inquiry into the deal so assess whether it might create --. always happens, david. opening of the investigation does not be judge the outcome of that investigation okay >> right >> so -- >> i'm aware that nvidia is pushing that you think we don't get the same e-mails from the same people >> i thought it was a secret. >> yeah. but impo

freeman, morgan wright. >> [laughter] charles: hey, morgan, i know, my man its been a long week. >> like morgan freeman. charles: [laughter] the u.s. chamber of commerce now demanding that the federal reserve do more, and of course, you and i have talked about this , right? this is a dilemma. business wants government to do more, government wants business to do more, and the only people really getting paid are the hack ers and they think it's worse and worse. tell us, because i've got a feeling this thing ends really ugly. >> look, the best solution, charles, is if you want to be better defended, buy better solutions. these folks have the ability to buy better solutions to defend themselves. look, you can either pay 4 million to hackers, or spend half of that and get really much -better rock solid, you know , advance cutting-edge solutions today. it's simply a business calculation. i was listening to you talk earlier, michael saymor, just right down the street in the next county. they put their money where their mouth is. all these businesses need to do the same thing. you can not r

jp morgan really getting ahead of this.: take a group down there with this latest on the return to the offices. of jp morgan. here's a quick check of the latest business flash headlines. at&t confirms a blockbuster deal to spin off its media operation and merges with discovery, creating a formidable rival to netflix and disney. the agreement first reported by new york -- by bloomberg news. ranging from to hd tv and the food network. at&t will get $43 billion. discovery ceo will lead the new entity at about $130 billion, including debt. softbank vision fund is said to be considering listing a blank check company on the ends -- on the amsterdam stock. sources tell us it is seeking $304 million from the deal, and a wood target investments in europe's tech industry. softbank has embraced it with, raising $3.3 billion for nine u.s. fax in the latest financial year. they have made its first investment in the middle east, leading an initial funding round for egypt -- egyptian banking app. it raised $5 million in a round that was j

of morgan stanley was on in the previous hour, and he said just ignore it. tom: it's the bull and the bear debate. to me, the mother of the call is whether you take morgan stanley, the wonderful way they have always argued within their research collegially, is the idea of the boom economy and gdp drifts away quickly, or do you have in a boom economy that sustains afterwards? we don't know. jonathan: we have some positives this morning on pfizer, on under armour. i think the table a was the apple numbers. they knocked it out of the park. to see that stock close slightly negative on the day was kinda confusing for a lot of. lisa: especially since it was unclear what was driving. i want to go back -- what was driving it. i want to go back to what interest lynn -- what andrew slimmon was talking about. he noted this 11% miscalculation on the spx earnings. basically, this is how much wall street underestimated earnings. he couldn't understand why there was no humility, why there was no reckoning for that. why there has not been any material recalculation of some

ken: particularly for jp morgan versus other u.s.ks, it has sizable presence in the capital market, so it is a quasi-investment bank. that culture permeates the bank, but they are also a world leader in terms of consumer stability to get a hold of technology, fintech, and harmonize with your brick-and-mortar bank branches and financial centers to delight the customer. there's no disruptors coming into the market, including goldman sachs, so you've got to be on your best game. i think for jp morgan and bank of america, they really execute well in the consumer area. jonathan: what did you make of the story would put out this week on square may be getting into business banking? ken: square really has two principal businesses. it is a high-growth tech company. one is payment processing. the other is cash. it is just leveraging to gain share, whether it is from the banks or other established players. there are savvy players here. it is not like jp morgan or these aren't investing. they are investing billions in technology. so i would say

good morning, bode and morgan.d morning, savannah and hoda. as you know, morgan and bode miller lost their beloved 19-month-old daughter emmy in june of 2018 in a tragic drowning accident. since then, they've been spreading the word about water safety they've added three boys to their growing family, and now, this morning, we find out if baby miller number eight is a boy or a girl. >> i am so nervous bode and i have no idea. so we'll see >> reporter: with family and friends gathered for a gender reveal party on sunday, morgan and bode miller were ready to find out if baby number eight would be a boy or a girl [ applause ] >> reporter: it's a girl celebration, cheers, and tears the new baby will be their first girl since losing their 19-month-old daughter emma in a drowning accident in 2018. >> she had such a powerful personality, where she did what she wanted. >> she was such a bright light, and she was determined >> reporter: the millers have been candid about their heartache, hoping to prevent other families from

>> yeah, thanks, morgan.st of all, everybody at pioneer is sad that this has happened we do feel sorry for all the people that are buying gasoline. it's important that people do not gouge in regard to gasoline. pioneer is strictly an upstream player we do not have refineries. we move our product, oil, gas and ngls to the gulf coast the first thing we did is rechecked our fire walls to make sure somebody couldn't shut our 2000 horizontals down. and secondly, we're checking with major pipelines out of the gulf coast from the permian to the gulf coast can you imagine, permian is producing 4 1/2 million barrels of oil a day in oil. can you imagine if darkside got involved in shutting down pipelines down, and we lost 4 1/2 billion barrels a day. we're checking to make sure their fire walls are totally in tact, and someone like darkside can't do this again. and cyber security is critical it's important. >> what did you find, scott, i mean, when you had those conversations, they're still ongoing. did you get a satis

daniel morgan was a private investigator, just a small office above shops.n rees, in particular, worked with bent cops, which hampered the murder inquiry. mr rees denies being involved. daniel's young children have grown up, and the case has remained unsolved. his brother has never given up trying to find out the truth. it's the middle of a knot of corruption, really, and it needs to be examined and dismantled, or demolished, if you like. untied. untied, yeah. you know, years of feeling like you're banging your head against a brick wall, when you know that something has gone badly wrong. since 1987, five investigations have failed to find the killers. in 2011, a trial had to be abandoned. the independent inquiry panel was launched in 2013, the hope, not so much that it would solve the case, more that it would reveal whether police corruption had prevented it being solved. but now, the home office has said that the home secretary has an obligation to make sure that the report complies with human rights and national security considerations. "as soon as we rece

lester. >> morgan, thank you. >>> up next, the urgent new warning about ticks. when you're born and raised in san francisco, you grow up wanting to make a difference. that's why, at recology, we're proud to be 100% employee owned with local workers as diverse as san francisco. we built the city's recycling system from the ground up, helping to make san francisco the greenest big city in america but we couldn't do it without you. thank you, san francisco. gracias, san francisco. -thank you. -[ speaks native language ] let's keep making a differene together. >>> a new alert as the weather gets warmer. kristen dahlgren now on the explosion in potentially disease-carrying ticks. >> reporter: on a recent expedition in coastal connecticut, this researcher was amazed >> 200 longhorned ticks on myself. that's within two minutes. >> reporter: the longhorned tick first found in the u.s. in 2017 it's known to devastate livestock. researchers are still investigating what it could pass to humans he also found gulf coast ticks, common in the southeast, now spreading into new

lester. >> morgan, thank you. >>> up next, the urgent new warning about ticks. >>> a new alert as the weather gets warmer. kristen dahlgren now on the explosion in potentially disease-carrying ticks. >> reporter: on a recent expedition in coastal connecticut, this researcher was amazed >> 200 longhorned ticks on myself. that's within two minutes. >> reporter: the longhorned tick first found in the u.s. in 2017 it's known to devastate livestock. researchers are still investigating what it could pass to humans he also found gulf coast ticks, common in the southeast, now spreading into new england. other research shows black-legged ticks similar to ones known to spread lyme disease are now prolific near northern california beaches. scientists calling this year the perfect storm. a mild winter and abundant rain just as people are heading outside in droves. doctors recommend wearing light-colored clothing, tucking pants into socks and spraying with repellent. changing clothes and showering asap and always do a tick check on you and your children the lab is usually sent 3,000 ticks a year f

morgan. we will get the latest on the move to be j.p. morgan successor. that is next. check of the latest business flash headlines. robinhood plans to reveal filings for its ipo as soon as next week, as it looks at late june for its debut. bloomberg has learned that while the ipo plans are set up, the timing and details should change , giving investors a comprehensive look at the financials and the risks associated with the stock. ubs has started cuts across his largest divisions come investment banking and wealth management, to save $1 billion over the next three years. bloomberg learned that reductions range from managing directors to junior employees, affecting as many as 700 positions in one area alone. the ceo has been looking to cut costs and digitize bank offerings. bank of america ceo brian moynihan says it is boosting its minimum wage to $25 per hour by 2025 and told cnn the bank would require u.s. vendors to pay employees dedicated to the bank $15 per hour or more. the move follows four years of pay increases that brought the minimum wage to the current rate

we own jp morgan. jp morgan, the best of management team and diversified revenue stream.nue stream banks i think you're a little bit safer there. maria: we will keep talking about this in the banks coming up talk more about what took place yesterday. thank you alli mccarthy, jim, mark, you will stick around. we are happy about that. much more ahead this morning, the deepening border crisis. texas attorney general ken paxton reacting to the biden administration's defending of the handling to have southern border. we will get into that coming up. next hour kentucky senator rand paul and his wife kelly will be here. they have been getting death threats made against their family. the very latest into the investigation of origins of covid-19. dagen mcdowell and mark tepper are here. we will get back to the fantastic pam when we come right back. you're watching mornings with maria live on fox business. ♪ ♪ ♪ different. keeping your oysters business growing has you swamped. you need to hire. i need indeed indeed you do. the moment you sponsor a job on indeed you get a shortlist

morgan. she is 51 years of age and has been at jp for two years.nd, also 51, she has been at the bank for 27 years. she rose through the ranks and succeeded as that cfo couple years ago. these two women are very strong contenders. anna: two with cfo experience, that is interesting. how long will jamie dimon hang around? i don't think he said he is going anywhere yet. >> that is exactly the thing that everyone is waiting to hear, what will jamie dimon actually do. for a number years when you ask him these details, he has been saying it for a while. the difference this time is that even though the banks want him to stick around and he said he will not be leaving for a significant amount of time, his shares have could drupal. he is the only bank ceo still around from the credit crashes with navigated really well. he is a well deserving cfo. -- co. he is 65. perhaps some people think that this time around it will maybe be five years from now. anna: this is significant on wall street. >> absolutely. this is one of the most prized jobs on wall street. th

morgan chase for taking fees on overdraft protections. asked on camera in front of the hearing whether j.p. morgan would refund the money it took during the pandemic. he said clearly no but they were refunding to whoever asked. yvonne: bringing you live pictures out of seoul. the bank of korea governor speaking on the latest rate decision. they kept rates unchanged at a record low .5%, but they did upgrade the forecast for inflation and gdp growth this year. we will talk more about when this rate hike cycle could begin. korea ticks the boxes for normalization of policy here. tliv is where you will check out commentary from colleagues. you can also watch on live go as well. this is bloomberg. haslinda: for now here is the latest business flash headlines. an activist investor has won two seat on the exxon mobil board. it was established less than six months ago. exxon mobil has opposed the nominees in the lead up to the vote. the result sends a signal that institutional investors are ready to force corporate america to tackle climate c

mike wilson of morgan stanley, love the inside. thank you very much.ing up, best buy's extraordinarily high demand. we will dig into the retailer's results. shares pushing higher after its earnings beat. we will break it all down for you. this is bloomberg. ♪ alix: live from new york, i'm alix steel, with guy johnson in london. this is "bloomberg markets." dave wilson is looking at some results. best buy, pretty good quarter. dave: sales up 37% in the recent quarter, those are the kind of numbers that get your attention. we have seen a lot of figures like that as the company's results have come out this first quarter earnings season. it has really been a mixed bag with the response. best buy has managed to move higher. so has dollar general, which raised its sales forecast for the current fiscal year. then there's dollar tree, talking about how freight costs are going to be an issue going forward, more so than they have been, so that stock is taking a hit. you are seeing a similar story with burlington stores. they are talking freight costs as well, as

morgan radford, nbc news, chicago. >>> we will take a short break.marine bringing hope to fellow veterans. we will take short break. up next, a marine bringing hope to fellow veterans. of w hat matters. asking for what we want. and need. and we need more time. so, we want kisqali. living longer is possible and proven with kisqali when taken with fulvestrant or a nonsteroidal aromatase inhibitor in hr+, her2- metastatic breast cancer. kisqali is approved for both pre- and postmenopausal women, and has extended lives in multiple clinical trials. kisqali is a pill that's significantly more effective at delaying disease progression versus a nonsteroidal aromatase inhibitor or fulvestrant alone. kisqali can cause lung problems, or an abnormal heartbeat, which can lead to death. it can cause serious skin reactions, liver problems, and low white blood cell counts that may result in severe infections. tell your doctor right away if you have new or worsening symptoms, including breathing problems, cough, chest pain, a change in your heartbeat, dizziness, yell

jp morgan said it ready for about a 10% correction, john norman did, but jp morgan saying we are in thepot overall. you will have a robust second half. they have a bullish view on telecoms, go to my winton -- linkedin, shameless plug. let me show you, crude up 8.6%. this as the covid numbers in the united states of america come down to the lowest level since march of last year, less than 30,000 a week last week. still, a huge global issue but becoming less of a press and issue in -- prescient issue in the united states. let's talk about another set of negotiations ongoing and rhetoric tied to it, the european union imposing an effective flight blockade against belarus. that is after the forced landing of a ryanair flight and arrest of a journalist. the international air association says they have strongly condemned the plane diversion, and the director general spoke to bloomberg tv. >> in the current environment, it is not as important as you might think, and that is because of a disruption caused by the coronavirus. a lot of flights that would have traditionally gone through that part

some stocks like a broken record , still closing in on the pre-pandemic by, but jp morgan has lifted for the asx 200. it is the new target? sophie: jp morgan announcing the number, an implied increase from the tuesday close, and earnings at the heart of this, a key factor, along with the boom in commodity prices, precious metals, upward pressure on mining profit estimates, so without outlook, jp morgan saying something. >> more readings through wednesday, right? will that provide more clues on the recovery and energy consumption? sophie: yes, the metrics could be supportive of oil prices. bank of america looks forward to a pickup in activity, and vaccination numbers in developed nations, leading to reopening plans, so oil demand will ramp up into the summer, brent with an upside momentum beyond $70 per barrel, and oil prices that brent averaging this year. global crude has helped, but a full recovery requires a healthy economic backdrop when it comes to the emerging-market spaces. india is poised for a major oil demand slow down. later on the show, one guest says markets may be under

we'll get to later this morning later on "tech check" morgan stanley adam jonas, talking about the f-150 and tesla and what it means to the broader market at 11:00 a.m. eastern time don't go awhe.nyer everyone wakes up every morning to a world that must keep turning. the world can't stop, so neither can we. because the things we make, help make the world go round. they make it cleaner, healthier, and more connected. it's what we build that keeps things moving forward. so with every turn, we'll keep building a world that works. these days you have to keep everything moving and reinvent the wheel. with a hybrid, you can do both. that's why manufacturers are going hybrid with ibm. with watson on a hybrid cloud factories can use ai to automate the little things so they can focus on the next big thing. businesses that want to innovate at scale are going with a smarter hybrid cloud using the technology and expertise of ibm. cal: our confident forever plan is possible with a cfp® professional. a cfp® professional can help you build a complete financial plan. visit letsmakeaplan.org to find y

today at morgan stanley, through three businesses, we provide support.helped raise equity and debt capital, from taking them public to helping them issue bonds so they can grow and create jobs. we help public sector entities raise financing. we also helped pension funds, mutual funds, and other financial institutions trade and manage their assets. in wealth and asset management, we are managing 5.6 trillion dollars of assets for households and institutions including endowments and pension funds that manage the retirement of our teachers, firefighters, and public service employees. for millions of u.s. households come our services help families save money, whether it is for college, retirement, or not to put a down payment on a mortgage. we also support the more vulnerable through philanthropy and employee engagement. a number of well-publicized events last year led to a heightened, necessary focus -- heightened and necessary focus on racial and social justice. some of our efforts over the past year include providing grants for minority deposit institutio

jp morgan no will coming back more employees across u.s. offices today.oining us from jp morgan's headquarters in new york is bloomberg's kailey leinz. what do you see? kailey: here in new york, i have seen a constant trickle of people going through the doors, but this building already was open. the ceo of jp morgan jamie dimon has been coming into the office since last june. at the banks -- it is the bank's other locations across the country that are reopening today that were partially shuttered due to covid 19. those offices will not be doing so at full capacity. for the time being, there's a 50% capacity cap, but it is the first step for jp morgan bringing back its workforce. jp morgan says it expects all employees to be in the office on a consistent rotational basis by early july. jp morgan is the largest u.s. bank, a bellwether for the financial industry. we have seen other investment banks and consumer facing banks on their own timelines. goldman sachs saying they will expect i'll employees to be ready to be back in the office by mid june, but other

if you look at morgan stanley, one million, credit suisse, over 6 billion.ze of morgan stanley, that is perhaps why swiss regulators are more focused on the banks and their banking system. >> we did not have the wall street ceo's testifying in congress. alison: we did. the focus today, both archegos and issues across investors with ceo's, did focus on the close to home issues, what happened over covid. one of the issues some of the politicians have focused on is lending, which has ironing, -- irony, because angst have so much to lend and are dying to make loans. another issue that came up is that of overdraft fees. this has been more of a commercial issue for banks. we had a lot of fintechs coming in, not charging those fees, and different pricing structures. we do not expect -- our policy analyst does not expect new policies to come out of the process. >> alison williams there. let's get a check of the business flash headlines. a tiny investment firm won two seats on the exxon board. exxon mobil vocally opposed the nominees in the lead up to the vote. it se

morgan chase, citi, bank of america and wells fargo and morgan stanley testify before the senate banking committee this is the first of two days of hearings, the house gets a shot at the bankers tomorrow and when we say shots we mean it senators hit on the hot button issues of the market economy recovers from the coronavirus pandemic, arguably the biggest moment came when democratic senator liz warren of massachusetts went particular hard after j.p. morgan chase ceo jamie dimon over his company's handling of overdraft charges during the pandemic. listen. >> you are the star of the overdraft show do you know how much j.p. morgan's profit would've been a 2020 if you had followed the recommendation of the regulators and waived overdraft fees to help struggling consumers, in other words without the overdraft money would your bank have been in financial trouble? >> we waive the fees for customers upon request if they were under stress because of coping. >> i appreciate that you want to dodge the question, do you know how much your profits would've been if you would've waived. >> we waive the

morgan stanley >> i think morgan stanley is terrific james morgan has done a remarkable job i old wellsstake was not owning morgan stanley. that had the best business model and goerrman is a good guy he never got in trouble with the regulators he moved out of that crazy business as it s he's a real smart guy. a good guy let's go to charlie in new york. charlie? >> caller: boo-yah, jim. thanks for all the help you give us little guys zb >> we're all little, my friend let geese to work. >> caller: tell me about triton international. >> they have all the containers. why isn't that -- why is that stock not up a lot i got to look into that. i'm going to go to -- i think i may go to our research director and find out we have to find out what the heck we have to drill down. that company's stock should be much, much higher. there must be an issue i don't know i want to go to bonnie in florida. bonnie >> caller: hello, mr. cramer >> hi. >> caller: born and raised in new jersey living got louvife in florida ad loving your show >> what's up >> caller: i've been holding a position >> okay. i mean,

chetan ahya, morgan stanley chief global economist.ing up, i will catch up with richard bernstein. we will do that later. from new york city, lisa is back. lisa: it is great to be back. jonathan: nice to hear you a text bullish. lisa: give you another 10 minutes. jonathan: i will see you tomorrow morning. tom keene will be back tomorrow as well. this is bloomberg. ritika: with the first word news, i'm ritika gupta. a blockbuster deal in the media business will create a rival netflix and disney. at&t has agreed to split up its media operations that deal with discovery. the deal will merge assets with cnn and hbo to hd tv and the food network. discovery ceo will run the new entity. the chances of president biden getting an infrastructure bill through congress with support from both parties are rising. earlier today senate republicans are set to deliver a revised offer that it lose road, public transportation, and airports. still disagreement on how the legislation could be paid for would kill off any deal. in the u.k., the chancellor of

eoin morgan�*s side have slipped to fourth overall, but remain top of the twenty20 rankings. knight riders, but two of his team—mates, varun chakaravarthy and sandeep warrier, have tested positive for covid. today�*s match against royal challengers bangalore has been postponed. the ipl has pledged to carry on, despite the covid crisis in the country with the death toll over 200,000. the cricket broadcaster prakash wankakar spoke to me from pune. even though the hotel and everybody else is taking all kinds of precautions, it is very tenuous, isn�*t it? it�*s going to take one individual somewhere in that long change to be compromised —— in that long chain. because of the nature of this virus, many times the individual himself or herself doesn�*t know they are infected. they will no doubt investigate it but i�*m hoping, at least from a sport perspective, that this remains an isolated example as we saw last year in dubai, and indeed on england�*s tour of india that there were these breaches of people infected and the authorities concerned were able to take the necessary precauti

for now, the investigation remains ongoing. >> morgan, i see that collapsed overpass behind you what's the situation at the scene right now? >> reporter: yeah, lester just in the last few hours, crews were finally able to move those two train cars from the scene the mexican authorities have now established a wide perimeter around we've learned this is one of the newest lines in the entire system officials say it's checked daily but as of right now, no prior issues have been reported lester. >> morgan chesky in mexico city for us, thank you. >>> and just in this evening, former minneapolis police officer derek chauvin has filed an appeal for a new trial two weeks after he was convicted of murder and manslaughter charges in the death of george floyd. his lawyer says chauvin's ability to have a fair trial was affected by pretrial publicity. >>> in just 60 seconds, help wanted jobs available but nobody seems to want them why so many businesses are finding it so hard to hire workers right now. >>> and hot wheels how to score in the tightest used car market in years. >>> severe storms are on

this index that morgan stanley uses was down 58% in about a year.ing to come back, and their chief u.s. equity strategist mike wilson is saying look for more of this. it is basically an economic argument we are making, that we move beyond the early stage of a recovery and we are getting to the point where you have to think about what is called midcycle investing. actually saw that pop up any report as well -- pop-up in a report as well, so i knew it needed to be highlighted. tom: does midcycle replace transitory? dave: it may well do that. who knows? you see that little bit of recovery in the last couple of months, some morgan stanley is going to look for more. tom: visual guide to crypto doesn't float your boat. visual guide to bit dog, does that work? dave: i haven't looked that closely at bit dog yet. dave: we get a brief -- tom: we get a brief from our mike mcglone. why do bitcoin and other suffer? mike: i think immersing for can thing is bitcoin is a high gamma trade that is leading everything lower. every asset is down today. excuse me. i don'

after jp morgan made similar moves.ut the outlook is a little bit different. sonali basak has the latest. sonali: you have two new copresidents at morgan stanley. it has been two years since that spot has been open. they run the world's biggest equities business, biggest stock trading business. andy saperstein runs the biggest wealth manager in the country, just bought e*trade as well. have two others in this line of succession. the former cfo, highly renowned with investors given his spot on the earnings call, and back into thousand eight when he worked with all the banks and the heat of the financial crisis at their toughest times. so a new generation rising at morgan stanley. clearly a a succession. we are seeing a new generation rise elsewhere. -- a new line of succession. we are seeing a new generation wise elsewhere. guy: sonali, thank you very much, indeed. the iranian president hassan rouhani says world powers have accepted lifting sanctions on his country. the news inevitably having an impact on oil prices. let

. >> reporter: other businesses are doing better, winemaker george outfitted his morgan hill vineyard with a drip irrigation system as an edge against dry years like the one we are facing. >> we do everything we can to maintain the least amount of water that we can use, whether it be in the vineyard, in the winery, or wherever. >> reporter: others are already irrigating road crops, like lettuce and tomatoes, and bell peppers with sprinklers, which use more water. >> the road crops people that consume, that need more water. they have to get a plant growing from seed, all the way down. >> reporter: the commissioner says the extreme drought declaration will trigger special aid for farmers, such as low interest loans to help with higher water bills, or increased expenses but unlike many areas of the state, santa clara county growers are not expected to leave farm fields follow. >> water has always been an issue in agriculture. it does take water to feed the world. >> reporter: although growers and ranchers will be able to apply for those low interest federal loans because of the drought d