ak steel, 7.7 times 28. steel dynamics, 10. nucar, 14 times 18. only u.s. steel is high. i think estimates could be too low. of course the skeptics would say we haven't seen any earnings yet. numbers could still be awful. they will given the import duty didn't happen until march. the first quarter will be the last more risk quarter. the companies will tell a much more optimistic story when they report. the big european steel maker hold the buy. goldman points out chinese steel is filing a claim. europe is getting in our footsteps. the dollar declining, i would rather own an american steel maker. and that means nucor. it negated the number one threat to american steel industry, china. throwing new and improved economic landscape. the stocks have more room to run. which one? i always say stick with quality, best of breed. nucor. 3.1. the others could be good. but i think you missed them for now. wait for the next down turn. chris in tennessee. chris. >> reporter: yes, this is chris in tennessee. professor cramer, thanks very much. love to have you come down here and see us

steel industry. >> what measures is the u.s. taking to keep chinese steel out?pretty drastic measures. the department of commerce recently actually brought up a duty for some chinese steel products by as much as 266%. that is pretty massive, but experts are saying in the long run, you cannot keep increasing tariffs to keep chinese steel out. we still do not have enough production in the united states to keep pace with the demand, that is still rather strong here. in the long run, you need to have a stabilization of global steel prices to also bring some relief to the u.s. deal is you. those tariffs that we saw did have an impact of steel prices in the u.s. to actually recovered a bit. easilrecently the stock price were jumping quite a bit. >> thank you very much. now british tabloid "daily mail" is considering zapping up yahoo! it is an early discussions with the bid with the struggling internet company. yahoo! was an -- [no audio] reported a loss of nearly 4.5 billion dollars, and in february who said it was cutting 15% off its workforce. tensions at volkswagen

in youngstown, we make steel. we make steel and talk steel. look down any street in town and you will see the mills at the end of it. there are 25 miles of and along the mahoning river in today they are busy day into night. every eight hours, the shift changes. 15 men to a shift. host: the mahoning valley to the river was amazing. you can see the blast furnaces. you can see the factories. it was hard to tell where one began and the others and did. sheet and tube company, by the 1940's, was one of the largest steel companies in the nation and the largest employer in the state of ohio. according to the 1950 census, there were a little over 140,000 people. of that, 70,000 worked in steel or a related industry. 70,000, 48,000 worked in basic steel production. certainly, it is important because you need to manufacture munitions in that sort of thing for the proverbial hot war. the korean war was a hot war and they needed steel for munitions, tanks, jeeps. for all of those things that you needed me second world war as well. an eightre was industry-w

next up, steel. goldman sachs upgrading this global steel maker adding it to the conviction buy list, says that china's steel market finally looks to be on the cusp of a near term inflection point. lower capacity, lower inventory, in other words china's steel market is slowing down. they think the valuation on mtl is fair and that recent spot price momentum should help the stock. their target is in euros, 5.4. 35% in u.s. dollar terms. it was also reinstated a buy at bank of america merrill lynch as well. it has had a heck of a run. goldman and b of a they are you pushing that stock. >> we talked about the balance in oil. same thing for steel. next up, credit swiss is bullish of three east coast reads. major reason for that, the weakness in tech dominated west coast markets. vernato gets upgraded to an outperform. slg to a neutral. net asset values. ofc corporate office property specializes in government and cyber intelligence portfolios. so they do offices for those sorts of things, data centers. al

alix: i'm alix steel. here's what we are watching at this hour. dilma rousseff hit with another blow as the supreme court overturned a government motion that will allow the impeachment vote to proceed on sunday. what it all means for the bills economy. scarlet: critical talks on oil on monday in doha. there is news that iran will send a representative to this gathering. alix: the contrarian views on valeant as the struggling pharma company deals with $32 billion in debt. we will speak with david neuhauser, who is shorting a stock, while bill miller calls it a buy. a big by is what it meant to say. [laughter] scarlet: first, we want to check in on the markets right now. ramy.head over to ramy: i'm going to call the session on to middle because we have going between the red and the green. you can see that we are pretty much at the zero mark across all of our major markets. less than a 10th of a percent down across the board here. some of this confusion might be coming from some negativity and positivity from

steel,'t steel -- dump you lower the price. you see the price continuing to sort higher. mean we should see steel come down, or is something else going on -- the chart is number 984. i think it poses a very instant question, but it gives you a great picture of the global steel. betty: so, the price of steel is going up -- but why are exports than increasing in china? matt: that is the question this chart poses. exports are going up. why is the price continuing to rise. betty: i got it. that is the mystery of the chart. matt: in order to dump steele, you have to sell it for cheaper. betty: i am getting a lesson here. mark? mark: here is something you did not know -- with number, the purpose is to tell betty liu some thing she probably did not know. the benchmark in russia is just eight points away from a record high in 2007. there it is -- the white line, going back to 2007. i plotted it is there for you, betty. can this market surpassed the previous high and keep on chugging higher, betty? i tell you what, analysts remain bullish. they boosted profit projections by 5% thi

michael steele was the guest. host: michael steele joins us for the next 45 minutes to talk and thee rnc convention. mr. steele, we want to ask you about the announcement on the ted cruz and john kasich campaign. theng to deny donald trump delegates needed for a win at the convention. how unusual is this? michael steele: desperate times cause desperate measures. donald trump has, and i think they are beginning to realize, and actually kind of troops the messaging that has been coming out over the weekend. will get close to the 1237. because of the winds he will rack up tomorrow. the fact that he is now leading in indiana. the fact that he has amped up the campaign by bringing in professionals, so it makes sense for them to decide it is time for them to work together. while they are doing that, some are already behind ted cruz. they have pretty much dismissed john kasich but now they will probably bring him in. -- they pretty much dismissed kasich but now they'll bring him into that camp. what's the argument is don

manus: you said, this could very well be the steel industry's coal moment.ically, it does not seem to be that intense, are we at that point? >> i think we are long past that point. industry's best days are long behind it. manus: i know that we are in pointe, but is there any in the secretary saying we will subsidize energy prices? this is just, after the horse has bolted stuff, isn't it? >> i think that is true. there are places in the u.k. that have successfully de-steelized, so to speak. steel was the number one employer in this region, and when the industry wound down, the local government set up an enterprise zone and now is one of the u.k. centers for manufacturing cars and aerospace. anna: sam, what have we learned talking about the 1980's? but the level of support, transitions and infrastructure? what we learn from that that we can apply? >> we learned that there is not a huge amount the government can do. they can attract investment if there are people willing to work in these jobs and willing to upscale. there is a role in government in helping peop

alix: imf alix steel. stocks are fluctuating today, trading around the highest levels for the year that the big drag is technology shares, they plunge and we will have the latest. scarlet: in europe, bank of england officials are weighing the possibility of brexit. a bloomberg poll gives a 24% chance of the u.k. leaving. alix: plus, dennis lockhart says he will no longer push for a rate increase in april. inflation is still at the top of the mind of hollis -- of policymakers. scarlet: we are halfway through the trading day. let's head to the markets desk where julie hyman has been tracking the moves. when it comes to equities, we are moving to section -- two session highs. julie: moving north but not much north. not much change in the overall averages. it is indeed a better than it was earlier. it is an individual stock story today. i wanted to look at some of the biggest pushes and pulls that we are seeing. first of all, the stocks that are helping the s&p 500. jpmorgan rising for the second day, bank of

china is dumping, dumping steel. your steel mills, i see what's going on. this was the steel capital of the world, by far, nothing close. now i see what they're doing. [ applause ] >> before i came today because i'm making a speech where we have thousands and thousands of people, right after this, i said give me some statistics. it's unbelievable how you've lost your manufacturing jobs, you've lost your steel jobs. you look at what's happened with u.s. steel and all these great companies, these once, you know, incredible companies. and it's being taken because of devaluation, all of the devaluations. it makes it impossible, it makes it impossible for the companies to compete. we're losing our jobs. companies are moving to mexico. mexico's becoming the new china. [ boos ] >> we've got to stop it. we're going to stop it. what they're doing -- what they're doing especially in asia but especially china, you look at what they're doing with the dumping. forget the dumping, what they're doing with devaluation of their currencies is just unbelievable. and we have p

i want to go to you, michael steele. was on fox news this morning, and mike wallace, i always call him mike, chris wallace asked him about the ways he's pollerizing the electorate. >> if you had purposely set out to turn off voters, especially women voters over the last two weeks, i'm not sure you could have done a better job. >> all i can do is do what i do. i'm self-funding my campaign, i'm not one of these politicians controlled by the people that give them money, believe me, and they're totally controlled. i think i'm doing very well. was this my best week? i guess not. i could have done without the retweet, et cetera, et cetera. i'm doing okay. >> michael steele, if donald trump doesn't understand that he's potentially wrecking the party that he is claiming to want to lead, then what can the party do about someone like that, who doesn't seem to even understand the negative impact he's having? >> you're making an assumption, i think, that donald trump is somehow connecting himself to or aligning himself with, quote,

i'm alix steel.s is "bloomberg best." rubio of the most important business news, analysis, and interviews from bloomberg television around the world. let's take a day by day look at the week -- top stories. starting with a surprising turn in apple's legal showdown with the u.s. government. department of justice withdrawing legal action against apple. after the fbi successfully bypassed a law without apple's help. >> the fbi has successfully been able to access information it was seeking from the san bernardino shooter's iphone without the assistance of apple. looks like there was a third party involved that gave them the technical capabilities to do that. likely some kind of mobile forensic experts they had contract with governments in the past. it looks like the fbi's drop the request to have apple right additional code to circumvent security ios software. the rumors i have seen is that it is an israeli contractor that works with the government on similar requests and are savvy and some of these bac

right now, you've got some news 'sr us about britain struggling steel industry?eporter: good news, actually. jobs appear to be saved as thebull capital bought european long products business for what it describes as a nominal fee. the business will be rebranded as british steel. staff will be asked to accept a temporary pay cut. last month, the indian-based company said it was pulling out of its british operations. the company has been under pressure to find a buyer. they will now turn to wales, where the u.k.'s largest steelworks is. they will consider co-investing with an outside buyer, but they will not nationalize it. of peopleousands whose livelihood depends on that plan, there is more at stake than just steel. our correspondents have been visiting port talbot. reporter: an industry that build an empire. the future of british steel is under threat. port albert. most customers in this cafe work plants. if the furnace is here are allowed to go cold, the local economy will, too. >> there is nothing else in the area for us. just for everything. reporter: nationa

china is dumping, dumping steel. your steel mills, i see what's going on. this was the steel capital of the world, by far, nothing close. now i see what they're doing. [ applause ] >> before i came today because i'm making a speech where we have thousands and thousands of people, right after this, i said give me some statistics. it's unbelievable how you've lost your manufacturing jobs, you've lost your steel jobs. you look at what's happened with u.s. steel and all these great companies, these once, you know, incredible companies. and it's being taken because of devaluation, all of the devaluations. it makes it impossible, it makes it impossible for the companies to compete. we're losing our jobs. companies are moving to mexico. mexico's becoming the new china. [ boos ] >> we've got to stop it. we're going to stop it. what they're doing -- what they're doing especially in asia but especially china, you look at what they're doing with the dumping. forget the dumping, what they're doing with devaluation of their currencies is just unbelievable. and we have p

alix steel. look at the returns risk asked good -- asset. scarlet: saudi arabia faces a shakeup, can the country triplets non-oil income and balance the budget by 2020? alix: we speak with the chilean energy minister. it's renewable energy ambitions, are they sustainable? first, we were halfway through the u.s. trading day. we need to head over to the markets desk, were julie hyman has been tracking the latest. the dollar is gaining but stocks are slipping. alix: hi, scarlett. welcome back. scarlet: the band is all back together. julie: we had stock slipped today, we had a run, now we are seeing a pause. that dollar, we talk about the , butlation between oil this year, the correlation of inverse correlation is really with the u.s. dollar. we don't spend as much time talking about that. but that has happened this year as well. that said, we are seeing stocks pull back today in terms of the biggest drags on the s&p 500. in particular, facebook is falling today. intricately, deutsche bank says you s

steele, i admire listening to you so much. you're so reasonable and i'm sorry sometimes that you're a republican but aren't you glad that you put ron priebus in? the republican party has in dividing people for ages now, and that they played to their extremist and now you've got a firing squad going on. to regards of mr. trump being a businessman, i'm from michigan. we elected a businessman here in 2010. his name is rick snyder. and he was a businessman. he never was a politician. and boy, he got us in a mess. he was cut, cut, cut. you know about the plant water situation was going on in detroit. but you know what, on top of it all, mr. snyder is a businessman. he's a millionaire. and we have to pay for his defense funds. , taxpayers, are paying $1.2 million for his defense fund. this is what a businessman does. he doesn't look at people. it's the bottom line, the bottom line. i work in the medical field. i'm a retired r.n. i worked in an operating room. for a corporation that was always crying for money, but they're buying mor

for women were forced into ub steel ask. -- into bestie alley. ality.sti >> to think that for girls were tied up and disrobed and forced astiality, and they have been living with a shame that has been imposed on them by the community. since then, one of them died, probably of her injuries, but it is just unthinkable of what is does to an entire community and an entire country. most people in the world do not have a lot of intimate knowledge of the united nations, so peacekeeping for many millions of people is their first introduction to the u.n. when you're told somebody is coming to protect you and they turn on the civilian population, it is mind-boggling. >> polly donovon speaking from the code blue campaign. time for the business news. you are starting out with a highly anticipated unveiling. >> we are not talking about apple. the promise of an affordable car from tesla motors has millions -- hundreds lining up to make reservations. people put down $1000 for a car they had not even seen. at $35,000 is priced and will go on sale at the end of 2

mh37 ofa steel suspended a number people.l bek, tata steel talking with liberty house group about selling its british processing operations. analysts say prospective buyers could raise some concerns because of the liabilities arising from the investigation. apple's fight with the u.s. over privacy isn't over. authorities did drop a demand for the company's help and hacking the san bernardino shooters iphone, and someone else found a way to crack it, but they are now saying they will keep fighting to get apple's help in getting data off of phone in new york that drug dealer. they say apple provided assistance and accessing such devices earlier, so the government is going ahead with an appeal of a judge's order denying his request for apple's help. it is far from certain that the justice department will prevail on that appeal after u.s. investigators managed to crack the california phone, so a judge in new york will likely be skeptical that they don't have a way to break into this other phone either. rishaad: thanks a lot for t

i am alix steel. on u.s. pic here stocks. very much, a risk off day.re near 1% decline in the s&p. we did not have those in march. this is action kind of remarkable thing to know. among the sectors giving us trouble, we have utilities, financials, health care. down. is the least scarlet: the best performer, really. let's go now to abigail doolittle, live from the nasdaq. abigail: in keeping with president obama's press conference on tax inversions, up ag today.rgest driv apple earnings could be hit for as much as 50% on the inversion bowl. basically the possibility that the company could pay back taxes around the european business deal. the stock just moved above its daily moving average. in a similar fashion, late last year, ahead of the decline. there is a possibility that sellers could step back and here in the medium-term. alix: thank you so much. scarlet: argentina is asking for more time when it comes to paying $20 million of debt. the issue now goes before the new york appeals court april 13, one day before they have to make the first repayment.

this comes as tata steel begins formal talks of its u.k. operations sale. big wrench in the deal. >> it just got that much more complicated because we learned that the fraud office in the in. has started this probe december, and it was after this internal investigation that we saw coming out of the company, which they found inappropriate testing as well as falsifying certificates that the staff had done. detailingthey were the composition of the product before they were sold. said they stopped these practices after this internal investigation and did suspend personnel at the unit. as you mentioned, the timing of this could not have come at a worse time. formal talks to exits its u.k. business begin today. concerned about the oversupply, highs cause, rising steel exports, particularly a flood of cheap exports from china, and some are calling this a crisis in the u k steel industry. so far, liberty house group is the only perspective buyer for its plant and british processing operation. thisroup turned away from management turnover plan, and instead put its a

you have coal and steel which are severely suffering.cketingices in places like beijing where 90% of the growth in the first quarter was in services. in the west, you have lots of successes in investment in going into roads, railways, and bridges. discrepancy going on. the latest number you got was very telling because you have 21 of 30 regions reporting their own growth numbers. belt, whichhe rust had its big reckoning back then. they have not reported. provinces rust belt that are heavy. they are suffering. they had not reported yet. was 3% in the fourth quarter. it was probably worse. xi province has reported 3% growth. you have hunan province low growth. this is the chart on the far right. you can see the estimate of 7.11% currently because that is affecting the rebound we have seen. these numbers are painting a different picture right now. you have a big dilemma. the national people's congress said the chinese economy is full of hope and challenges. the big challenge is excess capacity in steel and coal. how do you work that off, th

it is made up of 4 tons of steel, and there is enough rope here to span 63 football fields. so, avenue feeling, this is going to be very popular with the kids, with the parent, as well. and this exhibit really is going to show everything about sharks. you first do see underneath the sharks here at adventure aquarium. now from above, we're joined now by kim ferno, guest experience manager here, real a treat. what made adventure aquarium want to build something like this? >> well, no one does better sharks than adventure aquarium, so we needed to add something else to the experience, so that those shark lovers could really get a view that nobody else does. >> you have the most sharks in one place here on the east coast here at adventure aquarium watch can pea see? >> we can see sand tigers, nearly 30 sharks in this exhibit, be able to see them swimming from the top of the water, then you'll be able to get behind the scenes, see staff at work, divers entering and exiting the exhibit at this time do maintenance dives, our lss system, cleans this exhibit, all of this never before

i'm alix steel.ching bloomberg television. ♪ >> from our studio in new york, this is "charlie rose." charlie: we begin with our continuing coverage of election 2016. donald trump met with the rnc and reince prebus today. it follows the comments that women should be punished for getting an abortion and his retraction. forcampaigsn are gearing up next

i'm alix steel.s is bloomberg has to, a review of the most important business news and analysis from around the world. starting with a surprising turn in apple's legal showdown with the u.s. government. with drawing legal action against apple. this after the fbi bypassed the log on the iphone from the san bernardino shooter without apple's help. the fbi has been able to access the information it was seeking from the san bernardino shooter's iphone without the us distance of apple. it looks like there was a third arty that gave them the capability. likely some kind of mobile forensic expert that contracted with the government in the past. it looks like the fbi is dropping the request to have apple write code to certain than to the security features in the existing software. >> doing no who did it? >> the rumors i've seen, a company, cellebrite. an israeli company that works with the government on similar inuests and is savvy backdoor hacking around security features. >> what is your take on what it me

not like climbing one of those steel sky scrapers. don't break it. >> he says in his description he didn't break anything and he was out before anybody could catch him but he promised he didn't hurt the infrastructure of the church. check out the view. it is beautiful. >> spiritual almost. >> i issue i could do that. i want to know what it's like to be that fearless. >> like he's stepping on this gargoyle. >> how does he know it's not fragile enough to put his life in danger but also the integrity of that tower. >>> there is nothing like knowing that your family's got your back. this grandmother in china, it was her toddler grandson that came to her defense. >> carry a big stick. >> but not speaking softly. a steel pipe. oh. look at him. he's like squaring up. and he's fending off china's urban management force. their drive is come through the streets of china and re-enforce the laws and make sure there are no offenders. not sure whether his grandma is a vendor but one of the officers try to get the little boy to sit down on his chair

in a letter steel says he decided to resign to spend more time with his ill wife.s claim he went easy on the former dean of berkeley law named in a sexual harassment suit. steel plans to join the psychology department next year. >>> live outside to san francisco. tonight get your shorts and t-shirts ready! it's gonna warm up this weekend. we are talking some beach weather. we spotted these dolphins out at fort point in san francisco today. get ready for 70s, 80s, how about 90s! >> 90s, no. but 70s and 80s, absolutely. some of the warmest weather we have had this spring. and today was the transition day. we said goodbye to the onshore flow. 70s today. san jose, oakland, heyward, 71. only 63 in san francisco. 75 the warm spot in santa rosa. much of the week spent 5-9 degrees below average in san jose. above average today. tomorrow, 12 degrees warmer than today. a high of 83 degrees forecast for san jose, and the warming is not finished tomorrow. it does got even warmer. d. and the clock >>> the death toll is climbing in japan after two powerful earthquakes there. so

>> no, we used to have something called the glass steel act.ng from commercial banking. bill clinton in 1999 with the advice of some of his advisors, not me certainly, i wasn't there then, joined republicans and got rid of the glass steel act that allowed banks like city bank to become citigroup, these gigantic commercial banks that allowed them in turn to start gambling with money. that got us into trouble. the glass steel act did a good job for 50 years after the great depression. should have kept it. and i don't understand why hillary clinton is so much against resurrecting the glass steel act. bernie sanders has said from the beginning he wants it resurrected. i think that's an important first step. >> the heart of my question goes back to also the idea of free tuition. you have many saying this notion of a basic boring bank. this notion of a free tuition. that these things are not just idealist or ideal thinking, it's not realistic when you look at the impact that free tuition would have on, for example, some of our nation's historic black

. -- concerns raised about the future of our steel industry and more, energy intensive manufacturing north of england has manufactured but it's been held back by green taxes, high energy costs and emissions targets. what more can you do to energy intensive industries? >> i thank my friend raise an important point and the changes we're and the changes would make it will save the steel industry over 400 million pounds by the end of this parliament and that is a good example of the steps we can take. there was an excellent debate yesterday about this issue. we need to work and everything we can do, make sure we're taking action in the eu against dumping come and we are. we need to make sure we reduce the energy cost where we can come and we stand by to work with any potential purchaser of the works which will safeguard steel jobs in other parts of the country to see a we can help on a commercial basis. i'm satisfied with doing everything we possibly can. we cannot totally block the global trend of this massive overcapacity of steel and massive decline in prices but those are the key are

steele, i admire listening to you so much. you're so reasonable and i'm sorry sometimes that you're a republican but aren't you glad that you put ron priebus in? the republican party has in dividing people for ages now, and that they played to their extremist and now you've got a firing squad going on. to regards of mr. trump being a businessman, i'm from michigan. we elected a businessman here in 2010. his name is rick snyder. and he was a businessman. he never was a politician. and boy, he got us in a mess. he was cut, cut, cut. you know about the plant water situation was going on in detroit. but you know what, on top of it all, mr. snyder is a businessman. he's a millionaire. and we have to pay for his defense funds. , taxpayers, are paying $1.2 million for his defense fund. this is what a businessman does. he doesn't look at people. it's the bottom line, the bottom line. i work in the medical field. i'm a retired r.n. i worked in an operating room. for a corporation that was always crying for money, but they're buying mor

her favorite instrument is steel drums. >> that song isn't that song called. >> marry ann. >> that wast away. >> yes. >> anyway, marry ann vaughn is in the building she should come down and get the a pick. it is our 20th would it day. people on twitter says why don't you play more memories. all right, already. things don't go as planned around here so we tossed to a reporter for their story and this happened. >> kathy mats sack is here talking to residents about how their lives have change in the last couple weeks. kathy? >> here i am, don we had to wait for that truck to go by we are standing on the porch of west moreland and aramingo avenue and if i lived in this home a couple weeks ago i would have been able to park my car right in front of the house but that is just not possible, anymore. city streets department. >> see she handled it, walked around the block. >> she is the coolest. >> yes. >> the kathy matisak. >> her name is kathy rossi now and she works for triple a mid-atlantic. >> it was tracie matisak. >> yes. >> that was kathy matisak. >> there was a tracie matisak that was

pain in the steel sector. thousands of german steel workers took to the streets across the country yesterday to protest uncertainty in the industry. 45,000 workers took part in demonstrations in berlin and the southwestern state, denouncing the oversupply of the metal, especially cheap imports from you know where, china. workers have also demanded greater protection if the steel business is merged. sir, thank you very much for joining us. i don't know where you want to start. we can start off, if you like, about the ecb actions. what do you think, sir, about what the ecb is or isn't doing to benefit or actually create problems for the german economy? >> well, let me put things a little bit in perspective, if i may. european economic recovery is under way. those economies that underwent structural reforms like spain or ireland are reducing their unemployment. so you see the structural effect is also factoring in, and it's not all about demand. the ecb has been providing an expansionary stance and increased that

you can make all of the steel production. the steel product which is made big -- made, and even more. business is the solvable. it has been done before. we have done it in the midlands. that is already a proven strategy that it can be done under the right management and with the right model. what is more difficult is the blast furnaces which is the liquid. this is quite simple. it is not difficult to understand if you apply your mind. -- that was not the case. these plans were set up on domestic raw material. we import iron ore from brazil or australia, africa and so on. we import three tons per year. when we compete against producers, we are not going to be competitive. this is much more of a challenge to sustain. there are two solutions to this problem. one that we import slabs from suppliers from brazil, russia. or there's a homegrown solution which is tougher. which is we use the mystically available slabs. -- we use domestically available slabs. instead of making steel from iron or we could make melting local scrap and m

alix steel sat down to find out if a buyout is on the table. >> my only fear is that i wake up with aon my desk that someone is interested in should near -- cheniere energy. i think it holds today. representsprice, it a great value. valuationer any scenario can come up with. as a result of that, if someone wanted to own our company, they would have to pay a premium over what traditional and emmaus -- mma is used to pay. alix: why? >> i think it is valued above that. very our shareholding is concentrated. i think equate investors understand that, and i'm sure they would not allow her stock to go at traditional m&a violations. alix: some names were thrown out -- chevron, exxon -- what kind of company would you match up best with? >> i think cheniere energy could be strategic to a variety of companies, by will not conjecture on who they will be. i will go back to what i said, at the $37 price, i think we are relatively cheap on an evaluation method. if someone wanted to own this company, they would have to pay a relative premium. because the ceo was pushed out and the expansion he wanted

francine: we do not often talk about steel, but in the u.k. there is controversy around steel.to blame for the price we are seeing in steel across the world? jeff: when we look at the demand for steel, we like to categorize what we call capex commodities, commodities you used to build the economy. backshere is what we call -- what we call opex commodities. we look at the emerging markers that china went through, it went through an enormous spree in which it built large amounts of infrastructure. ore,er it is steel, iron they have all gone down tremendously. we estimate the excess capacity in that market as much as 30%. the need for producers around the world will be needed to cut production around steel. cycle?re we in the capex china is building a lot of infrastructure. you have to do with that overhang right now. arguably therall, most important question for the economy long-term is, can china absorb some of the exports where the u.s. consumer was? are they changing their system so that china consumes more of the world's goods? do you think they will do so successfully in the

district attorney kevin steele says an argument between two church members escalated. the shooter fired at least one shot hitting braxton in the chest. >> the investigation into this is ongoing. we're going to have to determine whether the shooting was justified under the law. >> reporter: steele would not elaborate but did say braxton wasn't arm. this church member who asked we not use her name says she saw several ushers arguing with braxton before the shooting, and that one of those ushers shot him. >> i don't know if he overreacted, but, you know, the man wasn't armed, i don't know what to say. i don't know. i'm just surprised and stunned. >> reporter: walters say she cannot make sense how a tragedy like this could happen in such a peaceful place. >> you don't go to church, to be killed. you just don't do that. he is a young man. he had his whole life ahead of him. >> reporter: police have interviewed the gun man. they say he is cooperating. d.a. steele says he has a conceal to carry permit. his name at this point has not been released. his autopsy is scheduled for

steel, u.s. has filed a complaint with the international trade commission to initiate an investigation against larger chinese steel producers and they're distributors alleging that illegal unfair methods of competition is seeking to exclusion of all unfairly traded chinese steel products from the u.s. market. of course, the u.s. steel market has been extremely competitive and has put u.s. steel in a challenging position. u.s. steel is reporting earnings after the bell. we'll bring you those results as well as any further commentary on this note when we get them. back to you. >> thank you. you know, what donald trump is talking about. you know, the steel dumping is happening in this country. going to bring it back to pittsburgh. >> it's been happening for a long time. for sure. thank you, meantime shares of nike higher today. we sat down with nike's ceo phil knight. they talked about his new memoir called shoe dog in which he shares the story of the early days at nike. we spoke about apple and the

and now, pointing out steel and iron ore, and there you have a china who hit the stimulus button witharge injections, and this is a pop of demanded a not be big, but steel demand is up 2.6 up. >> and legit or speck you layty? >> legit demand. and the not big, but the industry destocked under the fears of the very weak demand, and in fact, we calculate that the steel inventories in china expected the demand to drop by 20%, but instead up 2.66%, and the market was caught short and had to refill the gap, and create the pop, and it is not that sustainable, and that illustrates the fundamental issues, and steel and the nonenergy, we don't see them rebouncing for years, and oil, we do see it rebouncing in the third and the fourth quarter. >> and you say, gold, stay short. now, why? >> it is the macro view. when we think of the outlook, and china, and the rates need to rise, and the u.s. rates need to rise or a more hawkish fed, and looking at the evidence out there, and janet yellin put out a checklist, and one of sthem a strong china, and right now, the concern is that china is going too s

. >> reporter: district attorney kevin steele said that led one church member to shoot braxton at least once in the chest. he would not identify the gun man but says he is licensed to carry a concealed weapon. >> the investigation into this is ongoing, we will have to determine whether the shooting was justified, under the law. >> reporter: steele would not elaborate on how the shooting could be justified. he says he does not believe braxton was arm. by late afternoon mourners gathered near the church to pray. braxton's aunt tells "action news" that her nephew was full of life and laughter and she just can't understand how this could have happen. >> you don't go to church, to be killed. you know, just don't do that. he is a young man. he had his whole life a head of him. >> reporter: steele says shooter was also injured and taken to the hospital. treated and released. we understand he is being questioned at police headquarters, as for the victim we are tell he and his parents attended this church, his father was actually a church musician. an autopsy is scheduled for tomorrow. we are li

alix: i'm alix steel. no deal in delhi. crude oil falling below $40 a barrel after talks between producers failed to negotiate a production freeze. -- edris discusses morse discusses. proceedings now head to senate for trial for dilma rousseff. earnings justix got a little more interesting after the ceo's remarkable shift. amazon is taking a shot at the standalone streaming service. we are halfway into the u.s. trading day. let's check in with julie hyman at the markets desk. this is not the outcome that most people would have expected in terms of the markets. when we saw the news there was no agreement in market. stocks rising to the highs of the session, particularly the s&p and the dow. i just looked at an intraday chart. here you have the s&p 500 and here you have oil prices. we have had some analysts coming that someicipating investors would want to buy the dip today. there is also news that there is an oil strike in kuwait cutting that production by 60%. you can see it is climbing by the highs of the day. the movement

. >> more than 4,000 british steel workers have been handed a life line. the english conglomerate will sell the business to avoid job losses. it's not the end of the problem. >> tatar announced it was selling off its steel business, putting 14,000 jobs in jeopardy, and casting a gloom over industrial facilities. the biggest is in wales, where 4,000 worker are threatened with redundancy. the announce. appears to have provided a push for an agreement over the plant, after months of difficult negotiations. gray ball capital signed a deal in principle to find long product europe. there'll be some people that are unhappy about it. i think the majority of people will be pleased they have a future, not just for this site, but for this town as well. >> the sale of the products covers several u.k. based products, including the steelworks, engineering workshops in working tonne, design consultancy in york, and fairs distribution facilities, it employs 4,400 in the u.k. and 400 in france. it offers a glimmer of hope for thousands of workers in the u.k., including tho

a report that tata steel could be in talks to buy a stake in its european steel unit. this comes according to a german newspaper which says negotiations are already at an advanced stage. meanwhile, the political blame game is intensifying in the wake of tata's decision to pull out of the u.k. senior officials say britain blocked attempts to defend the eu against cheap imports of chinese steal. well, u.k. prime minister david cameron has now promised to take action in order to save the 15,000 jobs at risk. >> we're going to work very hard with the company to do everything we can, but it is a difficult situation. there can be no guarantees of success because of the problems that the steel industry faces worldwide. but the government will do everything it can to help working with the company, working with the communities to try to secure the future of this vital steel making import business and elsewhere in the u.k. >> the ratings agencies are taking note here. moody's now saying it thinks tata's plan to exit the u.k. actually make sense for the indian company. the rating

michael steele was the guest.ichael steele joins us for the next 45 minutes to talk and thee rnc convention. mr. steele, we want to ask you about the announcement on the ted cruz and john kasich campaign. theng to deny donald trump delegates needed for a win at the convention. how unusual is this? michael steele: desperate times cause desperate measures. donald trump has, and i think they are beginning to realize, and actually kind of troops the messaging that has been coming out over the weekend. will get close to the 1237. because of the winds he will rack up tomorrow. the fact that he is now leading

steel is up about 73%. still the industry is reeling from the worst crisis for steel ever. there has been a rush to cover the shorts there which were at beginning of the month at about 45% of the outstanding float. joining us now from the competitiveness council in d.c. is mario longhi, the ceo of u.s. steel. welcome to the program. nice to see you again. >> good morning, simon. >> the temptation is to ask you if your situation is improving. you've obviously decided that ohio, texas and alabama are plants that need to be idled as well, from a low base from a poor start are things getting better? >> well, i think we need to put the whole story into proper perspective. it seems that what we're getting right now is the identification of a bottom. in our particular market segment we've seen an enormous amount of increase of material that's been imported. the majority of which has been dumped into the country. what we're seeing right now is the beginning of the predetermination of the trade cases that have been filed. the predetermination -- >> have you spoken -- you've spoken o

the illegally dumped steel that flooded our market last year. these are the workers who come up to me at church on sundays or stop by my office. they look me in the eye and does me to explain how can other nations get to produce and sell steel under a different set of rules? these workers have never asked me or anyone else for a handout. they simply ask that all parties compete on a level playing field because these hoosier steelworkers know how value their steel products are here and abroad. congress and the obama administration must work together to not only prevent further job losses but to work to allow the steel industry to grow. when families face the uncertainty of a plant idling, they must prepare for the worst. all the while, small businesses who reside in communities that rely on the steel industry's success, they suffer because families are no longer able to purchase goods and services and groceries and clothes and things for their home because they're just trying to sturevive. -- trying to survive. the current situation only reinforc

we burnt milk in the copper chef and a traditional steel pan. the steel pan was ruined.right off the ceramitech surface. amazing! look. gooey cheese slides right off. watch this egg slip and slide like it's on ice skates. and because you're cooking with ceramic nonstick, you don't have to add all that extra fat and butter. air-pop popcorn without any oil or butter and no added calories.

we cannot totally booked the global trend of this massive overcapacity and steel.he massive decline in prices. but those of the key areas. stephen timms: research by the suntrust shows the turning schools into academies doesn't necessarily improve them. thousands of excellent primary schools, parents want them to continue to be maintained by the local authorities. why are ministers planning to overrule parents and force those schools to become academies? i think all the evidence shows that academies work. let me give the house of commons the evidence. those schools that converted into academies 88% of them are either outstanding or good schools. if you look at the sponsored academies often failing schools, if you listen to, look at what happened with the schools that were failing, sponsored by academies, you see on average a 10% improvement over the first two years. all the evidence is the results are better, the freedoms lead to and weather problems intervention happens far more quickly with academies. million more's children in good or outstanding schools. and i

. >>> from our delaware news room police in new castle county arrested a man accused of trying to steel a car and injuring two officers, as he a tempt todd get way. police arrested calvin warren yesterday. at 6:30 last night they pulled over warren after they suspect the suv he was in was stolen. instead warren back the suv in the patrol car and then reportedly hit a civilian vehicle before going on to hit two more police cars. eventually warren was arrested. the officer involved were not seriously injured. >>> well, tonight police continue to search for the man who shot an elderly woman before robbing her. incredibly, the victim made it back to her home where she called police. here's rick williams with tonight's crime fighters report. >> reporter: a typical trip to the grocery store, turned into a heroing ordeal for a seven five-year old mayfair woman. it happened just before 10:00 a.m. on thursday, december 31st along the 7100 block ofmont cue street. >> fifty-seven year-old female walking home with two bags of groceries gets a approached by this male, who decides to rob her. so she