here's sebastian salek. sebastian: u.s. intelligence agencies and the fbi are conducting investigations over donald trumps advisors and russia. that is according to four national security officials. several agencies are conducting inquiries over russia's efforts to metal in the election. trump's administration is considering several contenders as a replacement for an depositor as his labor nominee. hiser ran into trouble over admission that he employed an undocumented housekeeper. china's holdings of u.s. treasuries declined by the most theecord last year as world's second-largest economy dipped into its foreign exchange reserves. japan trimmed its holdings for a second straight year. some of america's biggest creditors are rethinking their financing of the u.s. government amid the prospect of bigger deficits and more inflation. nestle has forecast 2017 sales and profitability below long-term targets. the world's largest food company t --cts to two more percen 2% of 4%. mark schneider steps up efforts to restructure the fir

here's sebastian salek. ian: steven mnuchin expressed his desire to strengthen the deep economic bond with britain. opportunitiesssed to support the so-called special relationship as britain prepares to leave the e.u. microsoft raise prices on including laptops and tablets by as much as 15% as a response to the collapse in the pound. microsoft's top of the range book will go up by 400 pounds. it is the latest price increase to hit headlines after an audio firm revealed it was raising prices in the u.k. up to 25%. italy formed a task force to lure financial firms from london after brexit as the country steps of attempts to attract companies to milan offering tax incentives. finance minister and the mayor of milan met financial executive to make another pitch. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. i'm sebastian salek and this is bloomberg. mark: thank you very much indy. getting some retail sales data out of the u.k. and retail sales unexpected

here is sebastian salek. seb: white house national security adviser michael finn resigned amid allegations of improper conduct with russian officials. keithd lieutenant general kellogg has been named acting advisor. an administration already beset by a wave of protests and a court order that blocked a travel ban on citizens of seven predominately muslim nations. steven mnuchin has been sworn in as treasury secretary. the senate voted 33-47 in favor of the former goldman sachs banker, who had to defend his record with a mortgage lender accused of confidential -- controversial foreclosures. >> i share your economic vision and goals and am committed to enact policies to grow the economy and make better economic opportunities for all americans. to: toshiba says it expects put a $6.3 billion write-down in its power business and is considering withdrawing a stake in its chip business. the chairman will step down. earlier, toshiba shares plunged after it failed to report earnings as scheduled. they are set to hold a

let's get the bloomberg business flash with sebastian salek. sebastian: thanks.urth-quarter earnings that missed analyst estimates. profit more than doubled from a year earlier to $400 million, but they fell short of what was expected after higher oil prices failed to fully compensate. meanwhile, studied oil has reported an unexpected loss in the fourth quarter after write-downs on the shale assets in the u.s.. million, which missed the average forecast of $618 million profit. we spoke exclusively to statoil's ceo. >> in terms of impairments, we have impairments this quarter of $2.3 billion usd net. and the main reason for that is related to the fact that we have just a downward, long-term price assumption, mainly for oil. now we are looking at an oil price in 2020 of $75 usd per barrel. agreed to kkr has combine its hedge fund unit with asset management to create one of the world's largest investors in hedge fund. kkr would have a 40% stake in prison holdings, which manage $34 billion. the deal, expected to be completed in the second quarter, will challenge domi

for a roundup of the brexit stories from this week, here's sebastian salek. stian: the bill to send the european union -- the u.k. out of the european union asked parliament. mp's warn the approval should not be mistaken for unconditional support. brexit minister david davis outlined his vision for the future in a white paper. he confirmed the u.k. will need both the single market and the customs union, which enable british exporters to trade tariff-free with the rest of the block. the bank of england left rates on qe unchanged yesterday. it upgraded its economic forecast and revealed that some policymakers are more concerned about inflation. mark carney said the central bank is ready to respond as the u.k. begins its formal exit from the european union. >> it will be the country's new relationship with the e.u. and the reforms that it catalyzes. these processes will have a significant bearing on inflation over the next few years. sebastian: smaller manufacturers warn of higher inflation. the collapse of the pound is driving up the cost of raw materials. costs

for that, we go to sebastian salek for your bloomberg business flash. deutsche bank has cut its bonuses almost 80%. germany's largest lenders are reducing the payment toward shareholders. 5000 toys will get a special incentive for staying and paid out over six years. -- samsung has released a new tablet targeting bit of games and professionals after trying galaxyce back from the note 7 debacle. that is your bloomberg business flash. theresa may is bracing for new scottish referendum. it could push back the dates which article 50 is triggered. -- the mps would have to come back and march 13 could be the date which we end up seeing that. global head of ubs is still with us. if you think about the way politics is unfolding, it becomes more difficult to understand what it means at a political front. >> i think the markets are reasonably clear that article 50 will be triggered. i don't think it will make a major difference at the markets. i think given the majority, it is very difficult to see how this is not going to happen. more likely than not, a gets tri

the bloomberg business flash with sebastian salek. 3% increase in fourth-quarter profits. the state-controlled dutch lender said underlying net the state-controlled dutch lender said underlying net income rose to 333 million euros. that was helped by higher net interest income and lower provisions for risky loans. softbank is buying alternative asset manager fortress investment group for $3.3 billion in cash. fortress -- they have agreed to continue leading the business, which will remain based in new york. fortress will operate independently within softbank even at the japanese company develops its own investment fund your general motors shares closed 5% higher in yesterday's new york trading after bloomberg revealed the psa group is flying isuisition of the -- considering an acquisition of the business. a you casas ors brand. this is your bloomberg business flash, matt, guy. u.s. inventory data, it inventory data shows crude stockpiles expanding. more data today. bloomberg markets: middle east anger yousef gamal el-din -- anchor yous

bloomberg first word news with sebastian salek. sebastian. barratt sebastian: the u.s. outlined a sweeping crackdown on undocumented immigrants. donald trump administration will seek to swiftly deport people without court hearings and target migrants charged with crimes or thought to be dangerous, not just convict. john kelly also ordered the hiring of 15,000 more border control and immigration agents and the building of the mexican border wall. thehe memo regarding executive order for border security and immigration enforcement improvements outline the steps that dhs will take to secure the nation's southern border, prevent further illegal immigration, and to repatriate illegal immigrants swiftly, consistently, and humanely. formeran: hong kong's chief executive has been sentenced to 20 months in prison for misconduct in office. on friday, he was convicted for failing to disclose a conflict of interest which arose when he was negotiating for a luxury apartment. caps a stunning downfall for an official who helped seal the former colony through a series of financial shoc

sebastian salek. sebastian: commerzbank's profit fell by 5.2%. was still above analyst estimates. we will be speaking with commerzbank's ceo stephan angle at 11:30 u.k. time. steel prices recovered. interest in taxes including one-time items rose to 300 29 million euros, beating estimates. germany's largest steel maker is trying to transform itself into a diversified industrial group. u.s. chain nordstrom saw their biggest one-day gain in two months yesterday. the u.s. president slammed to the company for dropping his daughter's brand. trump's tweaks have -- tweets have hammered stocks in the past. that is your bloomberg business flash. guy. guy: thanks very much indeed. risk off. dollar index down. european stocks starting to soften up considerably as well. monte paschi and unicredit will share the state of their balance sheet with us later today. any solution to italy's banking crisis looks dependent on state intervention. land -- tos to the milan. what is going on with atlanta. what is going on with monte paschi? we thought this was a done dea

guy: here is the bloomberg business flash with sebastian salek. pchat's parent has set evaluation of it ipo between $19.5 billion -- they are valuing their shares between $14 and $16. that is on track to be the biggest technology ipo since alibaba raised a record three $5 billion in 2014. the head of samsung has arrived at court in seoul for his arrest hearing. he has been concealing criminal profit and hiding as it overseas with claims of writing, embezzlement, and purring jerry -- and perjury. he has denied any wrongdoing. fallen fort risk has the first time this week after people familiar with the matter said lenders pledged financial support. on tuesday, the tokyo-based conglomerate says it expects to book a write-down in its nuclear power business. a to achieve a spokesman says the company is not in a position to comment on the move. that is your bloomberg business flash. guy, matt. guy: let us talk about what is happening -- matt: yeah, i wanted to -- redenomination risk, and it is interesting that the french prosecutor coming out with some h

here at sebastian salek. io tinto said it will pay much higher dividends than expected and payback $500 million of shares after the world's second-biggest mining company reported the first annual gain in profits in 2013. beatingron ore profits estimates. rio tinto's ceo will be joining the team on they big america's. sanofi said profit may drop this year. the french drugmaker expects some items to be stable at constant exchange rates. global economic uncertainty is clouding his outlook. posted fourth-quarter profit that came in below estimates. that income more than doubled, but almost $544 million. qatar national bank says is it says it isits -- turning its focus to southeast asia. the country's biggest bank -- three years earlier than planned. >> we have gone to singapore to make it our asian half. the products, the services, singapore operations, asset management, and increased the staff in singapore. sebastian: that is your bloomberg business flash. japan hasank of concerns about his ability to control yie

first word news with sebastian salek. sebastian.tian: president donald trump has named neil gorsuch such as his pick for supreme court. a showdown with democrats in the senate. the youngest justice since clarence thomas joined the court in 1991. a billionaire says the damaging effects of trump's populist policies may overwhelm the benefits of his pro-business agenda, which marks a change for the world's biggest hedge funds. in a daily note, they said the current investment environment is marked by "exceptional uncertainty." they recommended avoiding concentrated bets and holding easy to saw assets. a key u.s. maker wants the u.s. to halt talks over its national agreements until president trump have had a chance to review their work. the fedter dated to chair, they wrote the federal reserve must cease all attempt to negotiate a these standards until president trump has had an opportunity to nominate an official for america's best interests. a general electric chairman ceo warns unbridled global trade is over. he spoke exclusively to

here is a bloomberg business flash, here is sebastian salek. ian: deutsche bank says its fourth-quarter loss narrowed. the net loss in the three months to december was one play 9 billion euros, larger than the 1.3 2 billion euros it expected. the bank's cet one ratio rose. the ceo has been cutting bonuses for thousands of jobs to raise profitability and bolster capital that has been hit by the misconduct fine. we'll talk about deutsche bank's earnings with the lenders cfo. missedeports profits and analyst estimates. adjusted profit to $1.8 billion whereas analysts had expected to pray billion dollars. the upstream, downstream, all messed guidance -- missed guidance. >> how we are doing is not where it needs to be. if you look at where we think our return needs to be, by the end of the decade, it should be a double-digit return. oil prices are slightly higher than perhaps they were today. that is what we are aiming at, that is what financial transformation program that we are in the middle of is what we are aiming to achieve. sebastian: kaiser in

we want to get straight over to sebastian salek for your business flash. johnson nutrition for 16 point $6 billion. the move takes the consumer products maker into the baby food market for the first time and increases its presence in asia. it says it expects $250 million in cost savings by the end of the year. operating profit increased. the french carmaker gained market share in europe with an expanded lineup of sport-utility vehicles and models like the hatchback. you can see that at 3:00 p.m. u.k. time. a 20% decrease in annual profit after deal or and iron ore prices gained. ore and iron ore prices gained. that is your bloomberg business flash. guy: the greek finance minister and the euro group president are set to meet in brussels today as greece's predators present athens with a framework of measures needed to do the bailout review again. that is according to two people familiar with the matter. joining us now is iain wishart. walk me through the meeting with this new set of proposals on the table. >> the european creditors really are giving it a bit

first word news with sebastian salek.ony blair will of opponents of brexit to fight to change people's minds and reverse richins decision to leave the european union. he will say people voted without knowledge of the true terms of brexit. it is their right to change their mind. our position is to change people to do so. bribery, perjury, embezzlement, including procedural sets and appeals that make as long as 18 months for a trial and verdict. the court that the decision was made because of the risk he might destroy evidence or flee. samsung denied it paid a bribe to the president in exchange for favors. rejectedump has portrayals of chaos in has ministration and said he had incredible progress. the u.s. president lashed out at media organizations and said they will not all you the truth. pres. trump: this administration is running like a fine tuned machine. despite the fact that i cannot get my cabinet approved. and they are outstanding people. juliette: rex tillerson -- sebastian: rex tillerson met with his russian coun

here's sebastian salek. sebastian: donald trump says the process of coming up with a replacement for the affordable care act could stretch into next year. the comments came in an interview with fox news' bill o'reilly. >> we're going to be putting it in fairly soon. i think i would like to say by the end of the year, at least the rudiments, but we should have something within the year and the following year. sebastian: the far right candidate for the french presidency has promised a brexit style referendum unless brussels agrees to reforms. national front leader marine le pen said the european experiment failed. >> who could find satisfaction in inaction in the face of a system that has us in chains, does not work, and ruins us because of its malfunctions? that is why i will announce the organization of a referendum within the first six months of my mandate on whether to stay or leave the e.u. sebastian: u.k. companies face tighter margins as the pound slides. that is according to the british chambers of comm

here is sebastian salek. lawyers for donald trump's administration have told a san francisco appeals court that the travel ban was within the powers granted by congress and the constitution. the justice department seeking to reverse a lower court ruling that put the executive order on hold. the court said a decision will probably be made this week. australian trade, tourism, and investment minister still wants a transpacific partnership, despite the u.s. dropping its involvement. said plans will be up for discussion at the meeting next month in chile. >> there were a lot of hard-fought gains achieved through intense negotiations over many years, in relation to the tpp. i do not want -- i know i'm not of other countries do not want games. those that is why i have put a focus on whether we could have, for example, a tpp 12 minus one, given the u.s. does not want to be part of it. seb: melania trump is suing a british newspaper for a defamatory report it retracted. 100 $50 million suit against the publisher of "