alix: peter fisher, thank you so much. is it time to reevaluate tech stocks?will speak to the expert on valuation. ♪ alix: i'm alix steel. time for the bloomberg business flash. nordstrom's coming up short in the fourth quarter, the retailer missing revenue and earnings due to poor holiday sales. forecast foreek the fiscal year ahead. shares are falling in late u.s. trading. mcdonald's is boosting the pay of its ceo by 18%. his base salaries went point $3 million. the stock is up 23% over last year. citigroup is running to exit its retail operations in resell and argentina. has maintained operation into countries for more than a century. back tohas been scaling cut costs and boost profits. financial services company will not be exiting a line of his this in the institutional division. the government wants to make it to buy new cable boxes from companies other than your cable provider. proposal onoved the a 3-2 partyline vote. the new rules will likely take several months to write. companies could be allowed to deliver a cable feed as part of their streaming tv

yesterday, right here on bloomberg television, my colleague and i sat down with peter fisher. interest rates so much. peter: i think it is important to separate how monetary policy works. there is the monetary channel, credit, we can grow credit, or we can make people richer. i kind of get it on the exchange rate. if you are little country like switzerland, sweden, or denmark, and are trying to avoid your currency depreciated, you try to put negative rates through to avoid the capital inflow. you will probably avoid a further appreciation. let's be clear. negative rates for the fx rates is a race to the bottom for competitive devaluation. international monetary fund was established to prevent us from doing that again. what we did in the 1920's and 1930's that was such a disaster. if you think every country would devalue the country with negative rates, think again. it is only working because the u.s. still has positive yield some other places are trying it. maybe it works for little countries. i don't see it working for they countries on the exchange rate channel. joe: why doe

and negative rates are not a good idea according to blackrock's peter fisher. we will ask him why.th market minutes. we had a monster three-day rally in stocks could not hold on to their gains. the s&p finishing off by not too much but not having a rally there. in terms of sectors, you are looking at health care

peter out. >> alan fisher joining us live from columbia in south carolina. snoop these are pictures from where hillary clinton has won for the democrats. she is going to be seeing supporters soon. we'll be going live to her when it happened >>> let's move to other news. a state of emergency is being declared on the island of fiji, they've been hit by the strongest storm, wind speeds of 120 k/hr. >> there were cyclones winds, affecting the whole of the country. it was declared a natural disaster for the whole of fiji. >> fiji is in lock down, battered by the cyclone, the strongest storm to hit the island ever recorded. a nationwide curfew has been imposed. many are staying at home. buildings are flimsy and may not stand up to powerful winds. this is what it looks like from space, it's a nasty picture, showing the eye of the cyclone over the pacific. beneath it is fiji, more that 300 low-lies islands in across the country. crops will be damaged. the storm has dumped a lot of water. boats and ships at sea are in danger. crews within 550km of the storm have been

tim novak 83 and peter gabriel with this iconic song is 66 today. eric fisher on wbz news >>> welcome back. a good saturday morning to you. u.s. airlines will bid to have routes to cuba. u.s. carriers will have 15 days to submit applications to the department of transportation. it starts to process of bringing airlines and travelers a step closer to scheduled flights between the two countries for the first time in more than 50 years. the u.s. formally sign an agreement to resume flights soon. it is expected to lead to more than 100 daily round trip flights in and out of cuba. >>> madelyn albright said there's a special place in hell for women who doesn't help each other while complaining for hillary clinton. she said the battle for gender equality isn't over yet and electing a female president would help with that cause. >>> pope francis is back in north america and ready to make history. ahead at 6:30, why the pontiff won't be shying away from controversial issues during the visit. >> first, meet the dog who danced her way into a new forever home. >> by the wa