we just saw that bond of sale. we expect the same thing to happen when it comes to these sorts of things? >> a huge question of course paying over these sales. none of these things have been done before. a flood of money has not, as quickly the saudi's have hoped. trying to change the rules to make the equity story more attractive. tracy: thanks so much. that is it for this edition of "bloomberg markets. while middle east. all of the top stories from around the world coming up. as well as the updates from toshiba. more on that next. this is bloomberg. >> toshiba says it will have a second earnings report deadline, given approval to delay until april 11. it says it needs more time to assess losses for its nuclear unit. toshiba slumped on news of the delay, shares now recovering down 1.5%. china's economy continues to hold momentum, where the old growth engine is still firing. investor production fell more than expected in january and february. meanwhile, sales rose 9.5%, missing estimates, driven down by lower car s

same-store sales sales declined. down two, that's terrible.n the other hand, the operating margin increased by 900 basis points. so while the sales were ugg list, business getting a little more profitable. put it all together, and i think we can conclude that the restaurant industry is in such bad shape that the weakness even extends to pizza delivery with the exception of domino's, which has so mastered the digital side of things that it can triumph over the same problems that are vexing its competitors. now, domino's is more expensive than papa john's, but you've got to pay up for the best of breed. if you look out to 2019, the growth at domino's means it's only selling for 25 times those numbers and that's somewhat reasonable. here's the bottom line. the rising tide in the pizza business no longer seems to be lifting all boats. in fact, judging by papa john's and pizza hut, the tide seems to be falling. but thanks to its terrific technology and amazing management and also good tasting public defenders, domino's just keep outperforming anywa

why timing is everything for the fastest home sale at the highest price? those stories and more tonight on "nightly business report" for thursday, march 2nd. good evening i'm sue herera. >> and i'm bill griffith in tonight for tyler mathisen who is on assignment right now. a rather unpleasant surprise for shareholders of caterpillar today. global industrial suffered their biggest decline in eight months after law enforcement officials raided three of the companies facilities including its headquarters in illinois. certainly something that no shareholder wants to hear about. in response the stock fell more than 4% today making it the worst performing member. morgan brennan tells us what we know at this point. >> reporter: it's a knock on the door no company wants. law enforcement officials searched three caterpillar facilities today including headquarters in illinois. the u.s. attorney's office for the central district of illinois confirmed the searches and said agents from the irs, the federal deposit insurance corporation and the commerce department were

the board of equalization says most sales tax overcharges happen when there's a sales tax rate change glitches in cash registers. guess what? we're about to have one. there are dozens of rate changes around the state taking effect april 1st, from martinez to pail l palo alto to fairfax. for a complete list of the rate changes, go to our website. tell us about your consumer complaints. guys, check your receipts. >> how many calls do you think he gets every day? >> a lot. >> how many? >> 37. >> 37 a day on average. >> keep them coming. >> chris is a busy day. >> definitely. >>> jeff is a busy guy too. >> got a lot going on. how do you guys feel about near 80 degrees tomorrow? >> we like that. >> the rain is coming, not just yet. >> not just yet. we'll hold off at least one more day. then yes, the wet weather will be returning across the bay area. i wanted to start off tonight with a look at anderson reservoir. since this was the source of the major flooding in the south bay, impacting san jose with our incoming wet weather, as you'll see in the scrolling seven-day forecast, of course ci

house sales have been falling slightly.lier this year said that come about what is your view? dealers are now 62% of global art sales? >> i think there are some measurement issues there, but increase, the dealers substantially, and this tends to happen when a market is declining. much is not as expected upside in the auction market. in a good market, sky is the limit, but in a certain market, -- uncertain market, you can get burned at auction. they do tend to veer and markets like that towards private sales. do see impact from china's capital controls on buying art? >> that could have some effect. chinese lyingobal on a big scale probably have diversified wealth already, so that will not be an issue, but it could potentially boost sales within china if there are not that many options for newly wealthy chinese to spend money on and invest, so i could boost sales in china as well. certainly for the high spenders in the global market already, they have quite diversified portfolios. rosalind: thank you for your insight on the m

lemonis: beer sales, as a percentage of total sales, have actually slipped a little.that because of the time of year? matt: um, time of year, but if you look at last year, it's slipped since last year, too. lemonis: about a year ago, i invested in a comprehensive tap system, and we doubled the number of beers that we stocked on the retail side. everyone knows that craft beers are expanding in popularity, but our numbers are falling, and that makes no sense. we got how many tables and chairs in here? mike: about 145 people, yeah. lemonis: and so 145 seats should turn two times a night. that's 2,030 people a week should come through here. how many guests a week are you seeing? man: 600 to 700. lemonis: you're operating at less than 40% capacity. we need to have that retail restaurant bar be busier more often. so, the bar business and the internet business are operating separately, right? who buys the wine for the internet business? man: dan. lemonis: are we selling enough on the web? dan: no. we used to -- at its peak, was probably $50,000, $60,000 a month. lemonis: and

in part because there's a glut of used vehicles for sale. so as their prices drop, there's a concern that could eventually weigh on ford's new vehicle profits. for now, ford says industry sales this year in the united states should still reach close to a record high. one reason why the company is still maintaining its yea earnings guidance. phil lebeau, "nightly business report," chicago. >> still ahead, will truckers keep on trucking? >> and morgan brennan in new jersey. more than 200 moves by truck. this is an industry with a direct take on the economy. truckers are sounding off about how president trump could improve business. that story coming up on "nightly business report." >>> helalth care was on the agenda today at the white house when the president met with a group of trucking executives. he praised their work, but after a tough 2016, are things looking up for the sector, especially under an administration that wants to roll back regulations? morgan brennan reports from richfield, new jersey. >> big rigs rolled into the white house

totally determined by their sales. >> you had to look at the gross sales in order to make this estimate? >> no, it goes to the administration collection of the tax. the assessment is fixed by statute. again, as described on page 2 of see -- feeaggregate on importers and manufacturers, all the covered entity's is $4 billion for the current calendar for would be $4.1 billion 2018. >> that is the amount said in the statute? >> said in the statute. if the total amount of sales of the industry increases, it assessment4 billion for 2017. if the amount decreases, it remains a $4 billion assessment for 2017. >> mr. chairman, i think it is another indication on why we should have a hearing on this bill. so that we could hear from the pharmaceutical industry what their role was in putting together the affordable care act. and -- it would be interesting to hear what their role was and wasn't their position is now position-- what their is now formally in regards to this provision. hearingif we had such a , we would find out that backtially this is a gift -- give back -- >> the gentleman's time has

sale of van ness. each at.5% or less of the purchase price which is unheard of in the commercial property market. the lease backs are for a 3-year initial term. we anticipate after 36 months our destination site wherever that maybe will be available for move in. in case there is a delay we have negotiated 21-year options to remain on site at nominal increases at your 3% increase per year, a $30-square foot cost at both of these locations. we believe that is an extremely favorable rate at the center and the budget analyst report puts that out at the low 50-square foot. we are at $70 a foot just a few blocks away. to give you an idea, we have a very favorable lease back. it's more of a currently paid and all of the pro forma chess. you can take another look at when we bring forward the ratification for the process. that will be coming later this spring. lastly we have deposits for 1660 and 1680 mission for $32 million and a total of $60 million. due diligence has been completed with respect to van ness.

and that's a recipe for continued strong auto sales. those stories and more on "nightly business report" for wednesday. it is already march the 1st. good evening. >> well, the bulls led the children on wall street. the dow soared. the s&p broke through the 2,400 mark midday and theray was sparked by two things. first optimistic tone struck by president trump in his speech last night to a joint session of congress. second, federal reserve officials with the up beat take. the zounl industrial average climbed 303 points to a record 21,115. the s&p 500 added 32. get this. it only took the dow 24 trading sessions to move from 20,000 to 21,000. tying it for the fastest 1,000-point jump ever of. >> amazing. >> the one thing president did not give investors was specifics on his proposed pro growth policies. apparently it didn't matter bauts he gave them something else instead. >> the stocks rallied and kept going through close as the trump hope trade is very much alive. the markets wanted more specifics on proposals on infrastructure spending,

home sales, existing home sales likely cooled in february, but due to a limited listings. get that data midweek. new home sales slightly higher, and this is closely watched data from a as we raise interest rates, they want to see a continuing trend higher. durable good orders likely rose. yvonne: thank you. coming up next, grinding to a halt, the impact of trumps trade tensions on china's industrial landscape. we are live from new york as well as hong kong. this is bloomberg. ♪ ♪ yvonne: look likes it is damp outside. we are 30 minutes away from asia's first major market open. york it is; 30 p.m. in new , where the markets were closed on friday down for the s&p and dow. looks like it is the last winter sunset for the season, because the first day of spring. i cannot wait to get out of this winter. yvonne: let's get the first word news with paul allen. >> one of south korea's most powerful company families will be together for the first time in years. the father and two siblings will begin the meeting. the charges include embezzlement and breach, including a quarter of a bi

the consumer division sale, proceed. lender bank sued deputies, john cryan, who admitted the previous efforts failed. more m&a for you this morning. standard life is in talks to purchase aberdeen, reading a fund manager overseeing 660 billion pounds. at 3.7n's value is seen billion pounds. finally, we focus on the chinese growth story. china wants to strike a balance between growth and risk. primarily, reaching the gdp goal of 6.5%, and cutting the monthly growth supply target to the 12%. nejra joins us right now with what you need to know from the overnight markets. nejra: could market. we are seeing most asian equity markets advanced. as you can see on the gmm, a lot of green on the board. the national people's congress is ongoing in china. there are two political tensions between japan and north korea. -- there are geopolitical tensions between japan and north korea. the new zealand dollar and the aussi dollar, the worst performers against the greenback. the yen is strengthen their. the cell. yuan, south korean lower

when walmart reports sales they report sale bits store and in their ecommerce channel. when the department of commerce releases the monthly sales thester sale goes into the discount retailer category. commerce going into ecommerce and that's challenge because there's a big narrative, are stores dying? are the purr pay retailers going to overtake the traditional brick and mortar stores and ought of the ten cities have traditional stows, walmart, macy's, home depot and they now their consumers are going there but if you look the department of congress data you see an inaccurate reflex how the -- reflection how the consumer is shopping but a that's take macy's store sales and put in department store and the macy ecome sales and putting it in the ecommerce category if you look at department store sales you would say, well, the department store sector is struggling, but ecommerce, that's where we need to invest. go to amazon. macyry is says i don't care where you shop, whether dot calm or us. -- dotcome we need to under how to reflect the changing consumer spending behavior

homes on sale for just a dollar. coming up, the true cost behind the bargain price. >>> and losing your job is bad enough but tonight the situation is getting worse for laid off solar company employees here in the bay area. >>> sandhya patel, live doppler 7, tracking a weak system, beginning of changes to come. >>> and celebrating the luck of the irish, effort to make sure st. patrick's day funds stay safe across the bay area. first looking at "jimmy kimmel live." >> here is a preview of tonight's show for you to >> [ speaking spanish ]. >> you have to sing into the (voand exceptional customerity pre-ownservice,les... head t to your neiborhood enterprise car sales and let the people who buy more vehicles than anyone... flip your thinking about buying your next one. >>> we all know the bay area real estate market is among the most expensive in the nation so when abc7 news found out two homes in oakland on sale for $1 each. we had to check it it out. there's a catch. tells you about the true cost to own one of those ho

their online sales are cannibalizing the kbriks and mortar sales and that's generally bad for the numbersecause people rarely mike impulse purchases online, but it seems j. jill is different. this company uses its stores to bring in new customers. then they try to get those customers to buy things through as many channels as possible. here's the thing. unlike the rest of retail where your typical omni-channel customer is worth a lot less than a bricks and mortar customer, at j. jill, the omni-channel customers buy things nearly three times as often and spend nearly three times as much versus their single channel customers. in other words, it seems like jill's e-commerce division is actually additive to the numbers where so many other retailers seem to be in kind of a vortex donner party situation. they're starving in the wilderness and they've turned cannibal with their online business feasting on the flesh of their offline business in order to stay alive. so far at least j. jill is not a cannibal. these days, that's a hugely complimentary thing in the retail industry. beyond that, the co

. >>> sales of existing homes fell. buyers are out but there are obstacles in their way. >> home shoppers are finding fewer listings and higher prices. and both are standing in the way of satisfies. february it was warmest in half a century, but sales chilled, falling hardest in the northeast and only managing a small gain in the south. realtors say they're seeing far more potential buyers but not even close to enough listings to neat demand. supply is down over 6% from a year ago and has been falling for nearly two years. why? for one, builders are only operating bat 70% of their normal production level. they blame a lack of land and labor as well as the rising cost of regulation for their slow and wobbly recovery. >> what we're seeing is the share of new homes that compared to all home sales, only about 11 or 12%. i should be about 24%. normally that might not raise much of an eyebrow but it should raise eyebrows now because existing inventory and home sales is still holding. >> it is not the just the builders followi

sale for a few years for!rica but on sale for a few years for lincoln. it has is make or in america but on sale for a few years for lincoln. it has been ea or in america but on sale for a few years for lincoln. it has been a z or in america but on sale for a few years for lincoln. it has been a bit e1533! 111 15-111:- !1p§1 e53:- e e1 i11ee5 111 11-1111- !1pe1 eeee e e1 a i11ee5 1111 11-1111- !1pe1 eeee e e1 afading e1ee51e1 11-1111- !1ee1 eeee e e1 a fading brand in the ford of a fading brand in the ford portfolio but recently sales have ticked up in the states. if these drivers here in china don't embrace lincoln that it could be the end of the road for the car that has carried presidents. this giant is made in kentucky and shipped to china. it costs twice as much here. of the reason for that is the part of the reason for that is the import tax, 25%. on the prospect of an increase the parent company, ford, told the bbc it would evaluate the situation should the need arise, but it would not comment on specula

let's go into the home sales.g home sales likely: february, and the limited listing, data out midweek, the new home sales seen as slightly higher. it probably rose as consumers will invest in new equipment. that is a trend analysts will seen born out by this new data. we will hear from bmw, nike, and fedex. a move for data, but closely watched. haidi: absolutely. su keenan in new york. let's look at china, because house prices are defying gravity, or the curves. they are rising in more cities in february. sophie kamaruddin has the details. we had started to see a bit of an easing in the growth trajectory, but we are back at it. sophie: that was the case in january and we saw 45 cities marked higher price gains. that was the fewest number of cities in almost a year, but with february, we saw 56 of 76 register price gains. the biggest among those, bright beijing prices, rose 24%, shenzhen 14%. so new home prices rose 12.4% on a yearly basis, but on a monthly basis, flatter,. this suggests the property not having the

by sales volume last year. americans drank an average of 39.3 gallons of bottled water in 2016 compared to 38.5 of carbonated beverages. so it's close. it's still close, bill. >> oh, so close. >> oh, so close. i'll see you next hour. >> you've got it. >> see you later. >>> 30 minutes left. we have kenny pulcary on the floor of the stock exchange. tomorrow, the jobs number, could you see any number coming out that would change the fed's mind about raising rates? >> it would have to be so, so negative. anything that's in line -- i'm expecting we'll get a number closer to 3 which is up 60%. >> you think we could get 300,000 tomorrow? >> i wouldn't be surprised. look what the edp number is 298. nfp is looking for 180. 290? if we get a number with a 3 on it tomorrow. >> what would the market do with that? >> i think the market would embrace it, although it would absolutely cause everyone to stand up and say, she's going to raise rates. the market is expecting 100% she's going to raise rates. >> the ten year yield to

sales fell 1% last january. strong sales of suvs and trucks and pick up jumped 17% in sales.ld 69,000 suvs which is a record for february. nissan rogue jumped 54% in sales. if you're in the market for a new car, consumer reports released it's annual auto issue ed a list of top cars picks. >> reporter: small suvs are now the most popular cars on the road. topping the list in the category, subaru forrester which is the standard for small suvs with excellent fuel economy. if a mid size does an is more your style, kia beats out the honda and toyota. it's a good value at $25,000. all of the top picks have high marks when it comes to road test performance and reliability owner satisfaction, safety. they are the ones that beat out all the competition. >> need a smaller car at a great value. the roomy chevrolet crews has a quiet ride 47 miles per hour on the highway, it beats the popular honda civic and corolla. >>> the redesigned honda ridge line handles and rides far better than any other pick up. it gets impressive gas mile mileage and versatile tailgate and storage. >> this year

sales were down 1.7% year on year. officials attribute the fall to a calendar with one less business day and sluggish sales of spring clothes. they also cite limited benefits from government-backed campaign to boost consumption. february saw the first so-called premium friday when companies are encouraged to let companies off early on the last friday of the month. supermarket sales also fell 3.3%. ey marked the third consecutive month of decline. the shorter calendar was one reason, but businesses also blamed weak sales of some seafood due to smaller catches and high prices. >>> the latest data shows japan's trade balance swung back into the black in february. officials at the finance ministry say last month's trade surplus stood at around $7.3 billion. imports were up 1.2% in yen terms from a year earlier. that's as production cuts by opec countries lifted crude oil prices. exports were up by a much wider margin coming in 11% higher. customers in china have brought in more japanese car parts. u.s. president trump has

a welcome reversal of the decline in december of retail sales. sales up .4% in line with estimates.. we are certainly going to be watching this. in line with estimates, no surprise, australian retail sales up 0.4% ahead of the rba rating tomorrow. let's get to the first world news with rosalind chin. has caused ann urgent security meeting after confirming that north korea launched several missiles. japan's government says for projectiles were covered and -- were launched and flew about 1000 kilometers. shinzo abe says he will launch a firm protest with north korea. china is targeting growth of around 4.5% this year and will focus on stability ahead of the leadership transition. the prime minister outlined his aims of the national people's congress. he compares last year's goal of 6.5% to 7%. chinese economy has proved resilient and leaders want to face the danger of it -- of excessive borrowing. lawmakers hold that china will cut core output less aggressively after beating its 2016 reduction target. if they lower capacity by 160 million tons and deliver 150 million tons less deal, t

one of the primary problems is that sales growth has been stagnant. for the cost of doing business, the cost of materials, for example, and the direct labor costs used to produce the goods has been rising. that is the problem. this is where excessive regulations show up the on income. so if you look at big industrial names, caterpillar, for example, fewer regulations help drive down cost of materials and labor. that goes right to the bottom line. and bank cosmetic see a dramatic savings from a reduction in the cost of employees. it will make a big difference in jpmorgan. the ceo has been railing for sbeer compliane the ceo has been rair years. 18% are in compliance. think about this. one out of every five peel at jpmorgan are involved looking at what the other four are doing. the commerce department to reduce regulations. they're asking the public to reduce most burdensome regulations on manufacturers. you can submit comments regulations.gov. you will hear a lot more about this in the coming months. you can see why wall street is nuk a reduction in re

, not just a sale, a sale of 41% or more.bout 39% of shoppers, they'll head to different store to find a product for cheaper. economists blame sales fatigue and say consumers clearly looking for better deals, don't just say any store, because 10% won't get somebody to walk in, and shop for better deals where ever they can get them. >> 100%. i feel like so many things, i feel like almost every day i get 20% off sale. just not a sale. just not good enough. >> what does it take to you get you in the store. >> i do it on line. i think that's when it is easier to compare. if i'm going to buy the same item, get it think where, i go through ebates, who has more money off, who has the best, like make up product i need, and then who will give me more stuff back, you got the deal. >> even whether it comes to walking in malls when they have the big banners, 50% off, oh, even if i don't know the store, let me go in, take a lock. >> and save additional 20% off, on top of the 30%, macy's, they get me all the time, you walk through? thirty

by closing stores you're getting rid of meager sales. jpmorgan says that the weakness in department stores can be offset by the specialty department stores. like ultra beauty, who made a gigantic deal with este lauder to launch the mac brand on its website, suddenly you can give the u.s. brand a real boost, because i think it's going to go national. right now este lauder gets 30% of its sales from emerging markets and analysts believe that these new market will grow faster than the rise in the global middle class. this is happening faster than most people realize, that's why people are buying fancy makeup in places they weren't. the company does have some of the highest sales, general and administrative expenses in this space, not to mention a gigantic marketing budget. while the next closest competitor spends only 8% on marketing. and este lauder eats some of the costs for department store giants. and we know este lauder has more -- there are some real risks here today, this is a company that gets 86% of its sales overseas. you can read

it is the retail sales index on our bloomberg. below 10%, but 9.5%, i mean, a lot of countries would kill for this growth rate when it comes to people shopping. the more encouraging piece of data is factory output. was an encouraging set of numbers. if you look at private investment, that is especially noteworthy because the government has been trying to get the private sector spending. they have been struggling. that trend is slowly turning around, and that is important for the government to take pressure off and ease up on spending. as i mentioned earlier, yes, it is positive, early stages in day trend, so still early days. david: it plays into the ppi data we saw last week. you will see more companies investing because it brings pricing power. you have these margins as well. >> absolutely. again, the debate is cpi is a great story, but how long can it last? is it on the back of real the baser reflecting effect as commodity prices have come back from their lows? that we don't know yet. david: we have to wait 3-4 months if it is

when wal-mart reports sales they report sales by store and report sales in the e commerce channel. when department of commerce releases the monthly sales the store sales go into the discount category. the e commerce sales go into e commerce there is a narrative of our store is dying and going away or are retailers going to overtake the traditional brick and mortar stores. if you look at what is happening in retail eight of the ten top have traditional stores, wal-mart, macy's home depot. you see retailers investing in e commerce business. if you look at department of commerce data what you are going to see is an inaccurate reflection of how the consumer is shopping because what they are doing is taking macy's store sales and putting it in department store and taking e com sales and putting it in the e commerce category. that is a real problem because if you look at department store sales without understanding the context of the industry what you would say is the department store sector is struggling. look at e commerce. that is where we all need to invest. go to amazon. what is rea

when they report their sales, they report sale by store and their ecommerce channel. when department of commerce releases its monthly sales, the store sales go into the discount retailer category. the ecommerce sales go into ecommerce. that's a challenge because there's this big narrative right now, our stores dying? are stores going away? are the retailers going to overtake traditional brick and mortar stores? from our perspective, if you look at what's happening in retail, eight of the 10 top ecommerce retailers in the u.s. have traditional stores. wal-mart, macy's, home depot. and you see retailers investing in their ecommerce business because they know that's where their consumers are going. but if you look at department of commerce data, what you're going to see is an inaccurate reflection of how the consumer is shopping today, because what they're doing is they're taking macy's store sales and putting it into department store and they're taking macy's ecommerce sales, which are growing at a much faster rate for the company and where the company is investing, and

it totes and duffles from used sales. before she could restructure anything, beth neeldded new partners. >> we wanted the product to continue to be made in maine and we wanted the product to stay out of recycled sales and the product it our practices to be as green as we could be. >> she quickly discovered she wasn't going to meet her match immediately. not everyone saw sea bags future the same way. >> some of the people that talked to me thought it would be so much easier if you just mad these things in china. yeah. wrong business. that's not really whate set sea bags up to be. >> as the search went on, it was business as usual. the operation never slowed down despite the inevitable changes. >> we kept investing in the business as if we were going to continue to own it in the current structure because that's the only way we knew how. we had to keep our foot on the gas and keep growing because we now had at that point over 30 employees that we were proudly responsible for. >> something finally clicked when beth met fran p

than just ringing up sale. says each gran gram of pot has to be tracked and accounted for from plant to product to patients and greenbits makes it possible. to be specific, you are not in marijuana sales, you're in the sale of marijuana, you handle the transactions, is that right? >> exactly. there's a lot of regulation in the industry and my background has been building tools for small business. >> you were into it for a while. >> right, intuit, it helped people selling on ebay, online run their business and deal with taxes. if you think of my background, marijuana and the cannabis industry is one of the most regulated industry in all of the states that have legalized and state regulated. so i took my background and said, hey, let's build tools for you to run your retail store and behind the scene we can do the regulatory pieces with the government. >> how different is that state to state? i know investor rules are very different state to state. what about how it has to be tracked? >> there are similarities be

the real estate tailor expe ret same-store sales.mming note, this will be key, the ceo will sit down on "mad money" with jim cramer tonight at 6:00 p.m. eastern with the shares down about 18% in the premarket. i spoke to laurent last night, i've covered lululemon for a while now. he said not a surprise to see a sharp reaction. it's an emotionally charged stock. he blamed the current quarter guidance, the weakness for the decline in same-store sales on these problems with colors. he said we just didn't go into the spring bold enough on colors. he said the good thing about that is we can fix it it's a problem of our making. he said you saw it more online, which means we can adapt faster, as soon as next week you will see the colors changing in the stores. it's going to be a process. he said when it comes to innovation and supply chain, he's more excited about 2017 than he has been over the last few years. investors are not buying it. he's pointing to strength. he will continue to do so, i'm sure, on millimeter. >> i'm sure mr. cramer w

moving the tax base from domestic production to domestic sales. the way it works is that the limits the deduction on imports so it brings imports into the tax base. it eliminates the tax on export. that effectively goes to the destination-based. as part of the proposal i think it's an important component for three reasons. one it broadens the tax base in the short run and that allows for marginal rate cuts that republicans think are important. it can drastically simplify the tax code by eliminating a lot of the international tax regulations that currently exist. it would significantly eliminate the ability for companies to shift profits out of the united states. i think it accomplishes three main policy goals. the overallt affect price of a good or service that goes back and forth between countries? guest: most economists would tell you no. it is mainly through either currency adjustments level adjustments. consumers would not expect an increase in price levels relative to their wages. -- cost of goods at the store would not change. host: one more

first, same-store sales.r posted a strong holiday season in both stores and digital channels. investors will want to see more details on total sales growth in q4, especially internationally as they have recently opened new flagship stores in china and london. the men's wear segment, management noted while they are excited about the growth in this area and their ability to expand what is traditionally thought of as a women's brand, they would like to see men's sales make up a quarter of sales by 2020. the third thing to watch, guidance. lou lieu lemon faces fierce competition from big names like nike, under armour, gap. it is nice to see a late resurgence. some analysts worry there's not enough marketing compared to pierce and higher fixed costs could pressure earnings. shares are down about 1% in the past three months. >> time for our top trending stories. samsung will launch the galaxy s8 later today in new york. itis expected to have any voice assistant name bixby, an improved camera with auto focus and var

retail sales.an behind london's worst terror attack in more than a decade is described as british-born and was once investigated over concerns of extremism. theresa may described the government's response today. protecte going to communities across the country to reassure the public. this will mean increasing the number of patrols across the country with more armed police on the streets. emma: they believe the attacker acted alone. still, eight suspects have been arrested. what are people died in yesterday's attack, including the assailant and the police officer he stabbed. that's four people died. the white house trying to get house conservatives on board with the health care bill. they worked late into the night on last-minute changes that would attract support. republicans have postponed a key procedural step. in asia, japan's government is denying allegations linking prime minister shinzo abe's wife to a banking scandal. global news 24 hours a day, powered by more than 2600 journalists and anal

they lure the sale price to verizon by $350 million. the shares are up 15% in the past year. both snap stocks fly like facebook? certainly a lot of questions. >> a lot of concern and skepticism about whether snap can grow. with facebook, people understood it when they went public. investors got it because adults were on it. trying to woo a look inside that. how does that work? will it always be just her millennialist? you are watching "fbn:am" after a record close on wall street. your first look at morning markets and breaking news. ♪ when you have $4.95 online u.s. equity trades... lower than td ameritrade, schwab, and e-trade... you realize the smartest investing idea, isn't just what you invest in, but who you invest with. ♪ but who you invest with. juswho own them,ople every business is different. but every one of those businesses will need legal help as they age and grow. whether it be help starting your business, vendor contracts or employment agreements. legalzoom's network of attorneys can help you every step of the way so you can focus on what you do. we'll handle th

gm on a price to sales, even cheaper. so you have to look at the valuations. which real sales? >> they are ones that missed the housing crisis? >> the same ones calling for the huge uptick. >> housing prices too. >> economists a great record for forecasting. >> it was pent up demand. i think the real worrisome event, if you have peak autos, if you see rates are rising, this is a recipe for disaster for profits for these automakers. i do believe this is a sell. >> i think double trouble for the automakers. the issue of rising rates. that could be a problem with the delinquincies. the other problem is if new prices are falling, profitability is falling. if you believe in both, that's awful. >> if you look at the last three or four years, you can say that auto dealers have never been in a better spot. ford has been in a pretty significant down trend. i thought that was earlier this year. false breakout. how do you trade ford letter f which valuationwise is ridiculously cheap. i think you trade it in the double bottoms. you buy it on a breakout. right now in my opinion, you're in n

flipped a little bit lower off the new home sales. investors are feeling more been intive which has full rally mode but it's starting to waiver. lastly, we have some movers on the day -- ford trading down 1%. they are looking for first-quarter earnings of $.30 on the low end versus the estimate of $.47. it's below by as much as 30%. said this is not shocking because their car business is suffering this year. we also have credit suisse trading lower on the news that they are going to raise capital as opposed to putting out an ipo. higherplus side, snap is as piper jaffray says it's a new neutral. finally, fireeye has positive analyst, so it's a mixed bag in the u.s.. ofk: this is the scene yesterday's worst terror attack in the u.k. in 10 years. business as usual in parliament with theresa may giving a statement earlier and said the u.k. attacker was on the intelligence community radar years ago but authorities had no prior intelligence about the suspected islamic plot. eight people were arrested overnight. four people were killed of t

i do prefer sales force, that tie in with ibm could be meaningful but more importantly sales force had a blowout quarter. oracle is a good play and i like sap and really like excenture. for a generation of crying investors. i want to turn you off to a lesson of homework. there is much more "mad money" ahead including my exclusive with four industrieindustries, million houses own an rv. could it raise a red flag or buying opportunity? i'm investigating. tesla has risen 30% in three months and the market value sits within spinning distance of ford and gm but how does the company stack up. i'm tackling the technicals to find out. the lightning round, stick with cramer. various: (shouting) heigh! ho! ( ♪ ) it's off to work we go! woman: on the gulf coast, new exxonmobil projects are expected to create over 45,000 jobs. and each job created by the energy industry supports two others in the community. altogether, the industry supports over 9 million jobs nationwide. these are jobs that natural gas is helping make happen, all while reducing america's emissions. energy lives here. >>> the prob

books, cds and other products are on sale as well. some pa rents say products are on sale as well.s worth the cost. you need to make an effort to recognise it, but it is definitely worth the money. you realise that after the class, when you reap the benefits of this... i would call it training. but, as any other training goes, you need to practise. in singapore, are also entering the mindfulness market. this woman set up mindfulness market. this woman set up his studio for children in january. up his studio for children in january. what i would like them to learn is to accept who they are, and in turn be a bit more emotionally resilient, so they do not get blown away by all this digital age, and what other people are saying and other people are doing. our class is about 30 us dollars, the same as you would pay for a tennis or swimming lesson. but, as mindfulness becomes more mainstream, it may well become more mainstream, it may well become more common in asia. let's take a look at the markets before we go, because we are seeing some gains in asia. rather unusual because we did see

boosting supermarket sales and some customers can't get enough. >>> south korea's ousted president is at a court hearing that will decide whether she will be arrested. park is facing charges in connection to a corruption scandal. local media are reporting that she decided to attend the hearing to try to persuade the court not to arrest her. park was greeted by a few hundred supporters as she left her home thursday morning, amid a heavy police presence. she then made her way to the seoul central district court. on the way in, she passed reporters without stopping. park has been embroiled in a scandal that led to her being booted from office. allegations include bribery, abuse of power and leaking state secrets. she is alleged to have colluded with her long-time friend choi soon-sil to extort millions of dollars in bribes from the samsung group. park is also suspected of pressuring countries to donate money to foundations linked to choi. prosecutors asked that park be arrested, saying she may try to destroy evidence. park is expected to deny the charges and claim there is no risk of her

strong apple ii sales that apple was able to say in business. the apple ii remained an apple product for an astounding 17 years. a few years later, ibm joined the party. apple took out a full-page ad in the wall street journal and said, welcome ibm. seriously. the ibm pc was not the most advanced computer, but it had the very important job of legitimizing personal computers for business. until this time, most businessmen looked at these microprocessor-based computers like the apple and the commodore as basically toys, suitable for home or education but not business. it took ibm's entry into the field in 1981 with the pc to finally put a stamp of approval and legitimacy on the pc. you could actually do business tasks using an ibm pc. , being atial strategy purveyor of mainframe systems, was to protect the mainframe at all costs. that was generating their billions of dollars in profit. a mainframe computer is literally a room sized computer filled with spinning tape drives and hard drives and people running around. the ibm pc was initially viewed

on amazon not really sales? the consumer group that claims some sellers are not honest when it comes to value. >>> and taking a look at our traffic. it's pretty heavy on the northbound traffic, cars coming toward >>> time is running out on the city of oakland and alameda county to reach some sort of a deal to keep the raiders from moving. nfl owners could give the raiders conditional approval to move to las vegas during the spring meeting next week. many questions still remain about the vegas deal. the raiders have no lease deal, they have no land. then there's the issue who will pay the hundreds of millions of dollars of infrastructure costs. those costs were put at more than $450 million. abc 7 news reporter laura anthony is heading to phoenix for those nfl owners meetings, which could determine if the oakland raiders stay in oakland or get the thumbs up to move to vegas. laura's live reports begin on sunday on abc 7 news. she'll also break any raiders news first on twitter. >>> tuition will soon be going up f

have poor sales.they say that launching switch button in a different ball game. mobile is a fast—growing gaming segment and a hybrid device, switch has deep integration with smartphones and also allows nintendo to stay true to its roots in the self top console business. that also worries from gamers in the complaint as it does not offer many games and if it fails, nintendo might have to rethink its hardware business. but for now it shares have jumped today about 4%, defying the rest of the tokyo stock market. thank you. shares across asia pulled back on friday, shadowing the retreat on wall street. japan's nikkei ended the session lower despite a weakening yen which usually helps to prop—up exporters. shares in hong kong and shanghai slipped ahead of the opening of the national peoples congress, something where china's leaders may announce new measures to rein in debt and tighten up the side of financial markets. a softer open for the european markets — the ftse, the dax and the cac all opening lower.

nintendo‘s new device goes on sale around the world but can it convince gamers to switch?s the gadgets google wants every home to have. we hear from the company's new hardware boss. welcome to world business report. i'm ben bland. in a minute we'll talk about the currency that's become more valuable than gold. we start injapan on a huge day for computer games giant nintendo. it starts selling its latest device — the switch. it's kind of hybrid machine — combining a home console and a mobile device in one. and it's safe it say it is a massive gamble for nintendo, which is trying to recapture its glory days as a games company in a fast changing industry. some are even calling it "make or break". let's show you why: gaming is very big business and growing fast. according to consultants newzoo sales will top $100 billion for the first time this year. but there's another first. gaming on mobile devices — mostly smartphones — will take the biggest share this year, with estimated sales of 42.5 billion. that will put it ahead of home consoles and pcs for the first time. it's somet

the largest the restaurant chain in latin america record a rise in same store sales and set plans to open 180 more mcdonald's over the next three years. that news sent the shares up by 19% to $7.60. >>> executive their finger on the pulse of american business quite the way chief financial officers do. tonight, cnbc is without a new survey of cfos. jackie tells us what they're seeing and worried about. >> and the survey says global cfos are concerned about president trump's key agenda items as well as the fed. they reefld out to cfos of some of the largest in the world. together their companies are worth more than $4 trillion. most of the lead sars they're less than 50% confident that we'll see corporate tax reform, and interest rate changes this year. nearly all surveyed said they were worried about a trade war with china. a handful said they saw u.s. trade policy. the majority still see two rate thiks year but there was a little shift in the thinking. more were open to the idea of additional likes. actually about a quarter now believe janet yellen may hike three times. >>> despite t

they are trying to think about the sale.ceo speaking now, the president, excuse me, at the news conference in tokyo. an announcement as soon as it is possible. this is one of those great debate about what happened next. can it survive in its current form? anna: let's check on sterling. trade,is where we substantially lower for the pound against the dollar, weaker against the euro as well, 1.1410 , around .5%. some pretty broad selling of the pound this morning. yesterday was quite resilient in the face of the pledge to seek permission for the independence referendum from scotland and nicola sturgeon. it was quite resilient yesterday, but not the story today. overnight the change has been that the house of commons and house of lords fell in line and have given theresa may the legislative blac back drop she needs. not expecting it will happen this week. people familiar are telling bloomberg it will likely happen in the last week of the month. manus: you can see what the editors are saying. they are suspicious of the volumes th

apples share of sales -- apple's share of sales edged past samsung ever so slightly, by a margin of just,000 phones. before that, samsung had beaten apple every quarter since the end of 2014. sizes,'s s8 comes in two both larger than the latest iphone. the s8 comes with encrypted facial recognition and a virtual usersant to give samsung an equivalent apple's siri or amazon's alexa. is it safe? the company has been touting a new eight point battery safety check in commercials released earlier this year. investors appear confident with samsung shares trading at a record high, but samsung faces another test later this year when apple is expected to roll out the 10th anniversary version of the iphone. selina: that was bloomberg's caitlin meehan. -- kaitlin meehan. is this the product that turns around samsung's fortunes? joining us is ronald lummis -- llamas. also with us, david kirkpatrick. ramon, it's been a rough few months for samsung. been one negative headline after another, exploding the heir apparent caught up in a corruption scandal. can one phone turn this around? mon: one phone is

sales might have got kushd --.ight at the moment when the market peeked but i never got the timing. cat's business is finally turning around and to me i think he deserved the cross overto jordan to see the promised land. who knows. cat hasn't exactly been an open book on the matter. i can understand how the combination of accounting issues and early retirement for the ceo might make people feel nervous about the stock but i say this, in response to the government's raid caterpillar stock lost about 4.2 billion worth of market cap. according to the 2014 -- report the company cut its tax bill by 2.4 billion over -- years andwee heard the irs is only seeking 2 billion in fines. so that may already be baked into the stock. and the republicans are in power now. they tend to be a lot more business friendly don't forget. and throw in the fact that caterpillar's fundamentals are improving and this company is adored by president trump who constant constantly cited it during his campaign. so maybe that tips the scales in fav