david solomon came from bear stearns in 1999. david solomon is not goldman dna.e to believe he has absorbed a lot of the culture. that is a question. what does it mean to have d in toy who is not dye the goldman sachs running the firm. what happens to people in non-revenue-generating positions like the cfo? like the general counsel? like sarah smith, who runs compliance? many of those people tend to survive transitions of power. lasted from hank paulson through lloyd blankfein 2013id not retire until and then subsequently joined the board. what is going to happen to those people? does david solomon want different people running those jobs or does it make more sense to have continuity in those positions because they are not about revenue, they are about stabilizing the ship. many of those people belong to the so-called federation. it is responsible for the support services. i don't have answers to those questions but those of the things that david solomon is going to have to decide and think hard about between now and october 1 and start implement in those changes

i didn't do it it's got to be tide adrian solomon and ernie scherer >> when adrian solomon learned herboyfriend's parents had been murdered, she wanted to be there to support ernie especially now that he said police were harassing him. >> i know everything about him. we dated for a couple of years. of course he couldn't have done this. >> she told ernie she could meet him during her business trip to dallas and it was actually just as she arrived when it happened. the moment she will recall for with absolute clarity for the rest of her life. >> i was in a taxi headed from the airport to the hotel in dallas and my phone rings and it is a detective. >> she listened to him say he was investigating the death of ernie's parents and he had a question. >> and he said, i know you guys have broke up, but can you tell me how long this affair lasted. >> affair? why did he use that word? >> why would you say that? we dated exclusively for two years. >> you don't know what you're talking about, she told him. >> he said, so you didn't know that he was married and has a child? i said what are you talk

because david solomon as an investment banking background.o you think the morale of the traders is lower perhaps at the moment given all this transition >> i think it is probably relatively low, wilf and that may be less because of the transition and what's going on in the guts of the business i was looking at some of the numbers, and it shows that goldman sachs has dramatically performed all the major banks just in percentage terms by a big margin this year is off to a more promising start. but a combination of especially more banking regulations after dodd/frank and changes in the environment and changes in the customer base, issues in the hedge fund world, which i know you guys will be talking about tomorrow but all of these things have conspired to make their trading business uniquely challenged so it's been a difficult run on the other hand, though, the firm historically has swung from people with a trading background to leadership with people with a banking background he wore a couple of different hats over the years ending with treasur

handing it over to solomon. let's go quickly into the bloomberg because what you see is an outperformance of goldman sachs in the 12 years that lloyd blankfein was there. there is concern that the change in the ceo may be the end of that long reign. haidi: thank you so much for that. political developments overnight. president trump has backtracked now on his controversial comments about russia and election meddling, speaking after a barrage of criticism including from senior republicans. he says he has full faith in america's intelligence agencies. pres. trump: i have felt very strongly that while russia's actions had no impact at all on the outcome of the election, let me be totally clear in saying that -- and i have said this many times -- i accept our intelligence community's that russia's meddling in the 2016 election took place. haidi: his performance alongside president clinton provoked -- provoked uproar. let's take a look at the fallout from helsinki. oe sobczyk, it's pretty rare for trump to retreat li

what does it mean for goldman, naming solomon as its ceo?: he's been running the investment banking division for quite a while, and it a division that has grown increasingly important at goldman sachs. him taking over means a sea change for leadership of the company when lloyd blankfein means in october. solomon will be making the decisions, obviously, and the fee-based revenue side will be what everyone is watching. lloyd blankfein came up through the trading side of the markets division and this will be a shift for one of the biggest, most important financial firms in the world. haidi: what about blankfein's legacy? dan: obviously, there has been quite a lot of growth at goldman sachs over the past 12 years. as i said, it's one of the most important financial companies in the world. shareholders have been mostly happy over the years. billions in profits. quite a lot of growth. his legacy, in many people's minds, will be tied to the aroundde credit crisis 2009, when goldman, for many people, was a symbol of everything wrong in our financial

what do you think of david solomon at this point?very good choice it lieeans into the investment banking area some of the legendary ceos came from rubien, as you might recall as we go forward, trading is more electronic than the human touch. i think the investment banking part is maybe going to dominate and choosing somebody from inside for any company in our view is always a positive move, and i think this is a smart move on the part of goldman >> all right, gerard, thanks stay tuned if we hear anything about concrete news on the successor, we will be bringing it to you, so leave your tv set on. we appreciate it turn it back on because you shouldn't leave it on when you're on the phone, probably. it's very confusing. there is a delay thanks for the quick analysis. appreciate it. >>> coming up, this morning's top stories including much more on goldman sachs plus the ceo of booking holdings joins us live. find out why his company is investing half a billion in china's didi stay tuned you're watching "squawk box" on cnbc on a collabora

we might have that david solomon announcement as well pretty soon.our banking forgers here at bloomberg. i want to point out you're looking at a room in the presidential palace in helsinki, finland. the live news conference from donald trump and vladimir putin. they spoke for about two hours, 10 minutes. we should hear a little bit about what they said. it will be interesting to see if this is some kind of a joint communique or some kind of bargain or breakthrough, or if it is indeed just an expression of friendliness between two countries. let's bring in marty schenker. of all of the diplomatic meetings with had in recent times, this is one where we literally do not know what the two leaders will say. >> we have no idea. i hope that both of them know what they're going to say. it will be really interesting if there is something very concrete order just atmospherics. vonnie: it could just be an expression of newfound warmth between the countries, unlikely to be anything negative. but they are also very -- there are very many issues that could be addr

now he's going to step aside by the end of september and he's going to be replaced by dell of david solomon who is with the company since one thousand nine hundred ninety nine by the way he's also known part time to that he likes to function as a d.j. so we will see if the employees of goldman really like his. well he is known that he might be might go some bold steps he is not necessarily loved goldman but he is highly respected and it might not necessarily be important to be loved by your employees as long as they respect yours so overall the choice was to be expected so he will take over or first on top of it goldman also had their quarterly numbers that came in better than expected still the stock of goldman traded slightly to the downside a solomon the part time a d.j. that's how we can find the right mix for goldman sachs thank you very much yes quarter of wall street. china is taking measures to diversify its sources of soybean imports to buffer the effects of trade tensions with the u.s. now make no mistake this being is a big deal the u.s. normally exports a massive fourteen billio

disgusting. >> a great code word in that document from john solomon today.y used the term, a new code word dragon. that reminded me of dragon energy. that kanye west talked about. president trump is my brother. i love everyone. trying to create a better world for all american citizens and better peaceful situation in the world versus what we heard from mr. hahn. tearing people down. the funny part is that going back to the dossier they pulled these same false hoods. >> tucker: you don't seem like a spy to me. we are out of time. thank you, both. whoa! dan served his country. a former secret service agent and joins us now. do you love your country? did you ever think we would get to a place where the mccarty era restarted with a different cast? people are accusing one another of not loving their country because they hand a college syllabus to someone working for a foreign country? >> it's a disgrace. this is a stain upon our country. >> tucker: it is. >> alan dershowitz can't go to a dinner and he is a liberal, but he is asking: where is the crime? carter pag

dave solomon is a big proponent of that.ill they articulate more of a vision about how that might feel their growth going forward? we will have to see. thank you so much. caroline gauge. thank you. in theup, discontent tory cap as the prime minister changes a key piece of brexit the station a week after was agreed. that next. this is bloomberg. ♪ nejra: this is bloomberg surveillance. a i am in london. let's check in with trending across the universe. the richest person in modern history. it $150 billion yesterday. in brexit strategy is disarray. she bowed her plan. story, minneapolis fed president says he isn't buying it's different when it comes to the yield curve. glutenefusal to condemn expresses outrage. there could be a video streaming bubble. that's get a quick comment for my guests on set. this time is different for the juncker? time, it was the expression of strong demand for safe assets and the inability to transmit military policy throughout the benchmark yield which determines far when conditions. the economy is

john solomon, great reporting on the hill. joining me now is the host of michelle malcolm investigates on crtv. michelle malcolm, nra contributor danrv. let's go over, shall we, michelle -- i love truth and history -- i know you do -- iranian 1 happened under president obama's watch, right? that's 20% of american uranium, foundational material for nuclear weapons. the interference of the meddling of the 2016 election happened under obama. crimea happened under obama. ukraine happened under obama. and the syrian red line was crossed also under obama. um, how come the media didn't care about any of this? >> because they suffer from selective sovereignty syndrome. they only care about foreign meddling and foreign conflicts when there's a president with an "r" by his name and especially when that "r" comes in the word trump, t-r-u-m-p. go back to the clinton years and chinagate and the dangerous national security implications of all of the campaign contributions that were coming in from shady characters all the way back then. who

goldman sachs is expected to name david solomon as the next ceo.nnouncement could come as early as today solomon is currently gold man's president. he would take over for lloyd flank fine blankfein would probably stay on for an interim period. joining us on the line is wilfred frost. what are you learning? >> contessa, yes interesting story and congrats to kate kelly for the scoop. i think we had expected this transition happened at some point this year. but probably late this year. so this midsummer transition sends them a bit of a surprise when i interviewed log back in april, he said there were a few things to learn before taking over interestingly, sources close to david solomon said to me that wasn't so much about learning the different parts of the business, him having been an investment banker, but more about learning the pipes of the business don't forget, harvey schwartz was cfo. that financial control of the business hasn't been something david as done. this timing means that lloyd and the board thinks that david has done that and he's to

next speaker, please. >> susan solomon again, uesf. i first want to say thank you for bringing forth the proposition g m.o.u. we did some good work last week, and let us all hope for the best that the bill that's in the state senate passes on thursday. this will change the landscape, and we won't have to worry as much as we're worrying right now. in terms of the budget, just in general terms as we go through the year and expenditures are happening, it's important to keep our eye on the prize, the priorities that are set in the budget are laudatory around multitiered systems of support, around professional department, safe and secure schools, and performance gaps. we also should note that the majority of the funds that are expended should be expended at the school sites, and that's where we want to see that happen. we want to make sure that we are student centered, and that is one way to make sure of that. and then in compensation of our members, which has been increasing due to some hard and excellent negotiations, it helps students if

mr solomon's promotion had been widely expected since he became goldman's only president in march but there is no word yet on when he will formally take over . and the retail sales numbers are out for june and they rose by half a percent the figures represent spending and us stores and their websites and restaurants at the same time the may figures were adjusted upwards by half a percent from point eight percent to one point three percent and here's a look at retail details and what it what it is is well if so are most she's the c.e.o. of the stock swoosh welcome melissa we always love having you and just when we thought that things may be looking not so great these new numbers come out and the may numbers were revised upward what's your take melissa. yeah i think that was really probably part of the boost you've seen in the last couple days the rally in the market a lot of these stocks have just been a rallying rallying rallying to amazon came out with a prime day this week so there was a lot of reasons for retail to get a lift not just the words momentum from the main numbers but th

lloyd solomon will succeed lloyd blankfein as ceo in goldman sachs.he bank posco oldest new leader in almost half a century. is expected to pocket almost $85 million when he finally walks away. will be stepping down as ceo at the end of september. as chairman, i will retire from the firm at the end of the year. >> global news on air, 24 hours a day and at tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i am tom mackenzie. this is bloomberg. with trading underway in asia, let's take a look at what we should be watching. the market took those remarks from powell in stride. you can say, nothing to see, here. >> absolutely. a performance from powell. of theseof any meetings is to cause as little disruption to markets as possible. these events are not meant to surprise. the reaction showed he did not deliver any surprises. some were worried he might put a new, extra emphasis on trade. but not this is a risk, something that is going to suddenly derail monetary policy. overall, there was a strong performance. no b

that is not david solomon.nd having a different background, he has a different persona and the firm will take on a different persona as a result. blankfein pushed out of goldman sachs? overall sense people have because this played out so in elegantly. goldman in the post crisis era and even before the crisis, is pretty expert when it comes to managing the reputation and its profile. the crisis for the lawsuit filed senate hearings under car of, but for the most part, goldman does that extremely well. goldman is the type of firm inre we see tweeting response to a story about a newspaper pending retirement, like he is listening to his on unity and that is what lloyd 9ankfein did two on march after a report on the wall street journal. this did not happen the way that you would have expected from goldman. by all appearances, it did not happen the way lloyd wanted it to. >> i don't understand because goldman sachs outperformed under lloyd blankfein. if you want to take a look at the bloomberg here. i do not understa

also i bombshell report by solomon. that the fbi may have received multiple versions of that russia dossier. he'll be here to explain, cross the pond president trump. we will have exclusive footage that no one has seen of what the british folks really think about this president. plus michelle joins us to discuss nonexplosive interview trump just gave to a u.k. newspaper. first, when a trump hating fbi investigator struck out. that is the focus of tonight's angle. he would have undoubtedly been proud. there may not been elephants, jugglers or trapeze artist flying through the air. for hours and hours and hours today for more fbi investigator peter strzok was walking a tightrope that republicans desperately tried to knock him off of. >> you are asking us to believe that when you say things like f trump, stop trump. that those just personal belief beliefs? when you say those things, you never cross that line. >> sir, i am asking you to believe and i am offering you evidence. >> you have been clear as a bell on that. >> how

tucker, that solomon piece today in "the hill" is devastating.one point it says, they went after carter pain, the fbi read the media reports, they used the media reports carter page complained about as an excuse to interview carter page. that's in the report today. i mean, is this a third world country? >> tucker: sure seems like it. it's not about trump, it's about america. dan bongino, thank you. democratic socialists, they are everywhere. the head of the democratic party says they're the future. what is democratic socialism exactly? we've got one of the most celebrated leaders of that movement, cornell west, joining us after the break. joining us after the break. to most, he's phil mickelson, pro golfer. to me, he's, well, dad. so when his joint pain from psoriatic arthritis got really bad, it scared me. and what could that pain mean? joint pain could mean joint damage. enbrel helps relieve joint pain, helps stop irreversible joint damage, and helps skin get clearer. enbrel may lower your ability to fight infections. serious, sometimes fatal e

david solomon is an investment banker and lloyd blankfein is a traitor. trying -- is a trader. it is trying to shift to a more bank's focus -- a more banking focus. it is also interesting he is handing it off to a renowned dj. alix: with no hair. the last story, also to do with goldman sachs. if you want to get the world cup team right, you go to goldman sachs. they're going to predict the scores and the simulations and they lost. >> strike one for the humans. interesting, we talk so much about machine learning, how much they are investing in this. what is more important than the world cup? what i found interesting about this is the machines kept getting it wrong. that croatiadea was going to do anything close to what croatia did. >> not only did they keep getting it wrong. the more complicated it got, the more wrong it got. the more data they fed to their programs, the more wrong they got it. it raises the questions about the modeling that is driving investment and the trading we see. >> that is interesting. that they said inherent randomness is one of t

what comes next, what does david solomon want to do, what will be the hallmark of the solomon air a the days? guest: that is the other big news we are expecting, the more normal announcement that he will be the next ceo. there are a bunch of questions around that. we are expecting lloyd blankfein will remain ceo but how long? give any- will they guidance on when the handover takes place? solomon has been a big proponent of goldman's push into the consumer lending business. it surprise some people that goldman is getting into the consumer space and what will they say about that? they started to talk about the consumer lending business being an engine for growth. it will get a number of questions on that today and we may get more visibility into solomon's vision. anna: and how much it overlaps with that of lloyd blankfein. thanks for joining us. executive editor for global finance. traders expects -- fx will be watching out for what jay powell has to say. he gives the report in washington and in the u.k. we have employment and wage data due later this morning. have mark carney presenting

solomon becomes ceo on october 1st and chairman in 2019.n at goldman since 1989. >>> david neeleman announced jetblue plans to buy new jets. neeleman plans to offer direct service instead of funneling flyers through connecting hubs. the carrier is seeking to fly nonstop to major cities like los angeles, chicago, and new york, but it will use secondary airports that may currently have no commercial service. >>> meanwhile twitter has suspended at least 58 million user accounts in the final three months of last year. it's part of twitter's crackdown on malicious or suspicious accounts following russian meddling in the 2016 election. last week twitter confirmed it also shut down 70 million accounts earlier in the year. >>> and walmart is considering launching a subscription streaming video service. it would compete with amazon. it would compete with netflix and amazon prime video. they're already battling amazon in retail, home goods and delivery. that would give them a video platform, but it's considering developing its own programming. the ne

john solomon you are delight for the country.ith us and we look forward to talking with you again soon. up next secretary of defense james mattis reportedly opened a meeting with his russian defense counterpart following the orders of his commander-in-chief. we'll talk about that and the future of u.s.-russia relations. general jack keane joins me next we will be right my father passed this truck down to me, that's the same thing i want to do with you. it's an emotional thing to watch your child grow up and especially get behind the wheel. i want to keep you know, stacking up the memories and the miles and the years. he's gonna get mine -but i'm gonna get a new one. -oh yeah when it's time for your old chevy truck to become their new chevy truck, there's truck month. get 18% of msrp cash back on all silverado 1500 crew cab lt pickups when you finance with gm financial. that's $9,000 on this silverado. plus, during truck month make no monthly payments for 90 days. retail. under pressure like never before. and it's connected techno

in it and maybe there is something solomon in me too. she's a singer and this is where she works on new songs so many songs just come to me when i play this piano when they go to the sea to trust you know you open up and songs keep floating to you. the dining room also serves as well as office when they have company they put the two small tables together the architect stripped a section of wall and the doors restored though not quite faithfully to the originals. we believe that the walls and leave them without paint nine hundred years ago everybody likes a bait because bait was expensive but it was like more than those are they paint so it's a little bit thicker thing that. we like these kind of wood and bought off the base . the family bought the house in two thousand and six and spent two years overseeing extensive renovation before they moved in. these grow the food buildings you have. forever you have work for ever going to for a living organism. they completely remodeled the upper floor under the. the roof in the bathroom is up here

john solomon you are delight for the country.k you for being with us and we look forward to talking with you again soon. up next secretary of defense james mattis reportedly opened a meeting with his russian defense counterpart following the orders of his commander-in-chief. we'll talk about that and the future of u.s.-russia relations. general jack keane joins me next we will be right back. is the only complete multivitamin with antioxidants from one total serving of fruits and veggies try new one a day with nature's medley. touch shows how we really feel. but does psoriasis ever get in the way? embrace the chance of 100% clear skin with taltz. up to 90% of those with moderate to severe psoriasis had a significant improvement of their psoriasis plaques. most people were still clearer after one year. with taltz, 4 out of 10 even achieved completely clear skin. don't use if you're allergic to taltz. before starting, you should be checked for tuberculosis. taltz may increase risk of infections and lower your ability to fight them.

john solomon you are delight for the country. and we look forward to talking with you again soon. up next secretary of defense james mattis reportedly opened a meeting with his russian defense counterpart following the orders of his commander-in-chief. we'll talk about that and the future of u.s.-russia relations. general jack keane joins me next we will be right i'll never find a safe used car. start at the new carfax.com show me minivans with no reported accidents. boom. love it. [struggles] show me the carfax. start your used car search at the all-new carfax.com. but it's tough to gete enough of their nutrients. new one a day with nature's medley is the only complete multivitamin with antioxidants from one total serving of fruits and veggies try new one a day with nature's medley. i wok(harmonica interrupts)ld... ...and told people about geico... (harmonica interrupts) how they could save 15% or more by... (harmonica interrupts) ...by just calling or going online to geico.com. (harmonica interrupts) (sighs and chuckles) sorry,

bribery age cheating and corruption within african football let's talk to nigerian football journalist solomon is on asham zee joins us from johannesburg via skype so many firstly how common is it in african football for coaches to accept bribes from agents well is is very common dieter across the continent of africa from to go to ghana to egypt to south africa zimbabwe it is very common for for coaches to accept bribes and sometimes this relationship isn't nishi it by the coaches who don't get paid much and they begin to use their players to be able to get some sort of financial reward and another part of it is that agents really instigate in it because they have said to him players that they need to market across the world across europe just saw they would be able to showcase their skill and they come in and give the coach. some sort of our arrangement where they would be able to pay them a certain percentage paid a monthly it depends on the range of mint and you know we see a lot of dyed in the under seventeen and under twenty one group competitions and also age group football and that is w

here was more from the hill is john solomon. big story. >> i think once important here, the evidence in this case has been produced episodically to congress. you get a single witness, a few documents they forgot to give you, then another witness. what happened over the last couple weeks, congress has gone back to reassemble and look back. one of the questions they are trying to answer, is there actions that were taken that clearly could be attributed to political bias? this discussion that you just highlighted has become very important. they've now confirmed, they put all the text messages and emails from mid-may, they see a discussion going on between us peter strzok and it lisa page appeared we stay in the fbi and go pointer to get up the elevator, or should we go try to get resident rep impeached? at some point, they say, maybe we should stop this discussion but they keep going anyways. we don't really need to go over there, there is no there there. there is not going to be a big crime found. i think that's essential because

john solomon you are delight for the country.ng with us and we look forward to talking with you again soon. up next secretary of defense james mattis reportedly opened a meeting with his russian defense counterpart following the orders of his commander-in-chief. we'll talk about that and the future of u.s.-russia relations. general jack keane joins me next ♪ a hotel can make or break a trip. and at expedia, we don't think you should be rushed into booking one. that's why we created expedia's add-on advantage. now after booking your flight, you unlock discounts on select hotels right until the day you leave. ♪ add-on advantage. discounted hotel rates when you add on to your trip. only when you book with expedia. and now for the rings. (♪) i'm a four-year-old ring bearer with a bad habit of swallowing stuff. still won't eat my broccoli, though. and if you don't have the right overage, you could be paying for that pricey love band yourself. so get an allstate agent, and be better protected from mayhem. like me. can a ring bearer get

solomon positions the company.is tenure, by the way, is likely to be half of lloyd's. >> that's right. >> david is in his mid 50s mr. solomon is in his mid 50s at this point you would imagine seven years at the helm is likely tenure at this point we'll see what he's able to do from that period of time he's a banker. >> right that's where the big margins are. >> came over in '99, i think. >> i think that -- true confessions. a lot of my friends are retiring at major firms the reason why they're retiring is because they've gotten the directive that unless you want to maintain these fabulous people in their 50s you've got to step down and let them make the big money. fortunately most of the people doing this, i talked to, are so wealthy. don't cry for me argentina, brazil, belize, you know but you end up with a situation they had no choice age lot of people said, wait a second, lloyd is at the prime. lloyd is at the prime of his life what is he doing he's making it so the other people at the prime of their life don't

will david solomon be a good fit for goldman? us is jeff, the senior associate dean of leadership studies at the yale school of management and cnbc contributor. jeff, always great to see you. >> thanks. great to see you zoo this had been well telegraphed. it's no surprise that david solomon is the next ceo of -- in terms of his next steps, he was talking about choosing his deputies how important is that? typically once you choose deputies, once you sort of signal to the outside world these are my next crew of people who i trust snoo for example, that harvey schwartz and david solomon stayed on while gary cohen looked like he was ahead of them in the line-up for a while, and then, of course, gary cohen went off the government, and it was clear he wasn't going to be lloyd's successor. you can see that there are multiple candidates out there, and that's among the remarkable things about this succession is that lloyd is leaving at the top of his game. of course, the firm is performing quite well, but he also has a good bench strength

then another aspect of this, which is also in solomon's piece, that right after the election, they are talking about, the day after the election, president trump is elected, focus on well we have to get all of the people tied to paul manafort and figure out what we're going to do. paul manafort is being tar getted not because of what he did wrong but the trigger is president trump's election. paul manafort right now is in solitary confinement. president trump should think about ordering his justice department to at least shut this mueller investigation down or pause it, given all of the corruption in its formation. in the fbi in 20 -- >> the e-mail that says we need all of their names to scrub and should give them ours. scrubbing at the election never a good look. carter page was on this network on a couple of hours ago speaking for himself. listen. >> tucker: could you expect you're going to be channelled with anything after all of this? >> tucker, i couldn't even imagine anything that i could owe potentially be channelled with. after seeing john solomon's article, it becomes, the who

present trump and king solomon stressed all efforts must be made to maintain stability of the global oil market and the world economy's growth both leaders emphasized and made by producing countries to meet any possible shortage of supply must be endorsed. countries against increasing oil production saying that face consequences for that a trial. if any country attempts to take iran's place in the oil market in this battle we would consider it a big treachery to the reigning nation and the world community and they will surely pay for this betrayal the us has backed the saudis to increase their. so that if he runs on oil was taken off the market nothing would happen to the world oil market they wrongly imagine that it is so easy for saudi arabia to promptly billions of barrels of oil to global production. so has hair on al-jazeera with argentina and portugal out of the world cup can spain avoid the same fate take a look ahead to the knockout game in sports that beat up. on counting the cost the european union is trying to change we'll look at the reasons why the economic cost of viole

mr solomons promotion had been widely expected since he became goldman's only president in march but there is no word yet on when he will form. really take over. and the retail sales numbers are out for june and they rose by half a percent the figures represent spending in u.s. stores and their websites and restaurants at the same time the maze figures were adjusted upwards by half a percent from point eight percent to one point three percent and here's a look at retail details and what it what it is is well so are most she's the c.e.o. of the stock swoosh welcome melissa we always love having you and just when we thought that things may be looking not so great these new numbers come out and the may numbers were revised upward what's your take melissa yeah i think that was really probably part of the boost you've seen in the last couple days the rally in the market a lot of these stocks have just been a rally rally rally and amazon came out with a prime day this week so there was a lot of reasons for retail to get a lift not just the words momentum from that may numbers but the gener

islands. 0ur turtles are not just about a whiter, the solomon islands. 0ur turtles are notjust our turtles those committees. and these native communities i'd doing what they can to help. today they are getting their boating licence, training from the parks and wildlife service. for us to be out here because of our history that we have with raine island, trading wise, our ancestors used to go all over. we have that connection now today to raine island. we have that history and songs. they use the ipad is, we have a total database and all the total monitoring is done on that. they also get involved with helping out with the drone work and the survey in. it would be good to learn a lot more. because we are living in a modern world and we've got to keep up. not too many old people left. we are the next one is in line, so we've got to learn as much as we can so in line, so we've got to learn as much as we can so we can pass in line, so we've got to learn as much as we can so we can pass it down to our kids and their kids can pass it down to their kids. indigenous and nonindigenous, we'll to wor

official, david solomon will be the next ceo of goldman sachs.reak down what the bank can learn from other secession stories. stories.sion this is bloomberg. ♪ alix: goldman sachs officially has a succession plan. the bank announcing yesterday that david solomon will be taking over as ceo. bloomberg opinion columnist steven gunn dealt rights, this puts the storyline back on track. it is one that is necessary. investors have shown less appetite for wall street rescue businesses.solomon still has a lot of work to do .it is not clear just how much he can or will he wants to shrink the trading business without significantly reducing the process. how easy is it, if you are ceo, to come in with a different kind of background than the current one and write an enormous shift? it sounds like a lot more like what industrial ceos have to do. >> and almost think it is harder when the business is not doing poorly. you look at ge, there's a need for change, and need to come in with a totally different mandate and wrote everything apart and start over. when you

first up, solomon starts with women.an's new era kicks off by doubling the number of women on its top committee. fortnite's revenue royale. spanish soccer eyes u.s. turf --er losing one although losing run although -- losing renaldo. -- alix: let's go through some of the women that will have a prominent role at -- as david solomon takes the helm. >> the strategy chief, a very quick ascent for her. allison made partner in 2001 as a critical job overseeing the relationship with private equity and other key clients. the head of the international asset management, we should also note that the chief in a street of officer was also named to this management committee. alix: not a woman though. >> not a woman. --s is critical in terms of as you look at what is happening at goldman, we are coming into the david solomon era. david solomon named to succeed lloyd blankfein. his fingerprints are all over this is of the mechanics of how it works. also because he has been very public about this being a high priority for him in terms of

this is a simplification just solomon came up to the investment bank. necessarily mean that is what each one of those wants to do. but, that is the narrative for investors. julie: it is a convenient one for them. because yes, convenient it is a volatile year, but also because it is where investors are going. have been giving higher multiples to bank of america. firms have said we want to be less risky. they have been getting the premium, goldman sachs was liking. whether they want to be less risky or not, let you like -- not, they like it attention. scarlet: goldman made money on a trading business and now that you have an investment banker leading the firm, does that mean goldman will shrink? shrink the trading business. or, will they let it continue as is and growing the other parts of the business? they have plans laid out to grow the other part, do more corporate lending which hopefully gets more m&a business and more consumer lending business. there's only so much they can do. if they wanted to pull back on trading, it is still the largest of the r

in the week which appeared to pop pressure on allies saudi arabia trump wrote saudi arabia's king solomon had agreed to produce more oil while also suggesting it was one of the opec countries being protected by the us how do you know castro has more from washington. president donald trump increased his pressure on saudi arabia by appearing on fox news and saying that he was one hundred percent sure that opec is manipulating the oil market he went on to say that quote they better stop it because we're protecting those countries many of those countries and it is no secret that the country he is referring to there is saudi arabia trance appearance on fox news comes on the heels of a tweet he issued yesterday in which he claimed that the king of saudi arabia king solomon had promised him during a call or had agreed rather to increase saudi arabian oil production by as much as two million barrels a day the white house though quickly back pedaled on that assertion following trump's tweet with a clarifying statement saying that saudi arabia had only indicated that it can raise or production if n

president trump and king solomon stressed all efforts must be made to maintain stability of the global oil market and the world economy's growth both leaders emphasized that endeavors made by producer countries to meet any possible shortage of supply must be endorsed how much carbon is a professor of conflict resolution george mason university he says the move has the potential to cause opec to implode as a trade organization while so far we have two sides to the same conflict within opec we have the saudis and the russians who happen to be the top all exporters so they have a lot of clout in the decision making of this organization and then we have the iranians and their allies so if we look deeper i think this is another confirmation of an only go in trend where would lead that is like trump like c.c. like and how many of them and all those who are willing to be members of the club of the powerful and by moving this way or pushing this way they are ignoring all kind of jumping over all these treaties and international organisations so unfortunately we are now in a world where bilater