also a slap in the face to his treasury secretary stephen mnuchin. the centerpiece around this $900 billion bill were the $600 stimulus checks that treasury secretary stephen mnuchin said the president supported. it would have made a lot of sense -- >> they didn't even let that, jackie, correct me if i'm wrong, but that, from that stephen mnuchin actually didn't involve extension of unemployment benefits at the time. just the stimulus check no extension of unemployment benefits which also wasn't a good plan either. >> right. exactly right. you know, regardless, the president works have been helpful to have known where he stood on this weeks ago. this deal alluded congress for months. already waited to the 11th hour when millions are about to go off the eviction and benefits cliff and now lindsey graham saying president trump is determined and convinced more than ever to increase stimulus spending to $2,000 per person and challenge section 230, big tech liability as relates to the m mdaa. all things the president could have articulated months, weeks a

last time we had a big bill like this, the cares act, stephen mnuchin was pretty involved in the negotiations doesn't seem like we have heard from them much? emily: mnuchin has really stepped back. he said he was going to let majority leader mitch mcconnell take over his spot. and it makes sense. mcconnell is ultimately go to be the person to decide whether this goes to the senate floor, so you have seen republicans and democrats in both chambers work together, you have seen ongoing discussions into late last night, and early today, and it seems in that regard, the group is making progress. romaine: we will keep an eye on the progress of the fiscal stimulus bill. if there is any news, we will bring it to you live here on bloomberg. bloomberg government's emily wilkins with the update. our next guest says, even if we get a relief package ahead of the holidays, it may be too timid. i'm sure there is some rationale for what he said, coming up after the break. this is bloomberg. ♪ ♪ we are focused on the enthusiasm and markets, indices hitting records, the stock indices, and joe, we are getting r

he negotiated the agreement via the treasury secretary stephen mnuchin and subsequently after the deal he said i don't like the deal very much, so that put things many limbo for a few days. the answer is politics. as with everything else, we have such a divided country, such a divided congress, it was tough for republicans and democrats to get together even though we you sa a considerable public demand for congress to act and get relief done. >> this question coming in from a viewer on facebook. we are streaming this conversation live. someone is asking, my parents are retired. will they still get $600? >> they should. again, we have to go back and review the text of this. but it goes to americans as long as they meet that income restriction. it is designed to help get some money back into the economy. the fact that one is retired, i don't believe should have impact. >> my question to you is do you think the stimulus is going to be enough? what would you like to see going forward? what do you think will be most beneficial to americans right now and going forward as this pan dam ek rage

stephen mnuchin has talked about a relief proposal to house speaker nancy pelosi. it's the first postelection move by the trump administration to break a month-long standoff. stephen mnuchin says he has the backing of congressional leaders and president trump. he says the proposal includes money for state and local governments and robust liability protections. loc called the unemployment insurance component unacceptable. mentioned, brussels is preparing to host what could be the final brexit negotiations with the eu commission president with meeting the u.k. prime minister boris johnson wednesday. eu leaders have lined up to support her with the meeting billed as a final cut off for a deal. johnson has offered an olive branch over northern ireland. old sites a significant differences remain. over to australia it's revealing legislation to force digital platforms to pay for news they include on the site. the government will compel google and facebook to compensate publishers for the value their news generates. they also recognize the importance of virtual media. the

stephen mnuchin is trying to break the deadlock over a new coronavirus relief bill.ed nancy pelosi with a $916 billion proposal that andudes aid to states liability protections. progress.d the offer they are unhappy at does not include enhanced unemployment benefits. democratic lawmakers balking at joe biden's choice to run the pentagon. congress would have to approve a waiver that bars military officers from leaving the pentagon within seven years -- from leading the pentagon within seven years of retiring. theu.k. will drop tariffs eu imposed on $4 billion of u.s. goods as part of the long-running dispute over legal aid to mayor cap and factors, boeing and airbus. it will set its own tariff policy when it completes the split from the eu at the end of the month. global news, 24 hours a day, on air and on quicktake from bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. tika gupta. a grou this is bloomberg. francine: tom and i really looking forward to this one. policy,talk monetary liquidity, bubbles. great conversation coming

it is competing with a plan released by stephen mnuchin and backed by gop leaders and president trump. the coronavirus was circulating in italy as early as november of 2019 according to a new report published by the cdc. new research lends weight to another study that suggests that an earlier appearance of the disease was in europe. boris johnson says no prime minister could accept the eu's exit demands. have as to brussels to showdown with european commission head ursula von der leyen. both sides are still hoping to reach an agreement before the end of december, when the brexit transition period expires. michigan lawmakers are laying out plans to borrow six hundred million dollars to fund the state's proposed settlement for the residents of flint, who sued after their municipal water supply was contaminated with elevated levels of lead. flint switched its drinking water source in 2014, but -- 12 people died in a legionnaires disease outbreak that experts suspect was linked to the improperly treated water. global news 24 hours a day on air and on bloomberg quicktake, powered by more t

jay powell and stephen mnuchin have been generous to investment banks, the stock market.ving every opportunity for companies to basically make what put.lled a powell you can raise money cheaply in all kinds of different ways over the last four years and you can invest. for investors, it always felt like there was a floor but never a ceiling. very pro-investment, pro-market over the last few years. regulationelse like around environment is secondary to making sure companies can be successful. what you are seeing in the biden team that he is putting together, although to a large degree populated with obama loyalists and even hillary clinton joe biden loyalists, what you are seeing is a series of advisors who will care more about the man on the street, the workingman, redistribution of wealth to some degree, particularly reducing economic inequality. there are a lot of labor guys in the team trying to make sure that workers are protected, and to the extent that comes into conflict with allowing big companies to become successful, the attention will shift a bit more toward pr

it is competing with a plan released by stephen mnuchin and backed by gop leaders and president trumpnavirus was circulating in italy as early as november of 2019 according to a new report published by the cdc. new research lends weight to another study that suggests that an earlier appearance of the disease was in europe. boris johnson says no prime minister could accept the eu's exit demands. have as to brussels to showdown with european commission head ursula von der leyen.

stephen mnuchin entering the fray with his $916 billion plan.ot of people using this as justification for a new optimism in markets. jon noting you're not seeing any which made. has any progress been made? kevin: significant progress. the fact that there has been a proposal from secretary mnuchin, coupled with the continued rhetoric coming from senate majority leader mitch mcconnell, yesterday i spoke with one republican lawmaker in the house of representatives who essentially told me that they are still incredibly optimistic of this will get done in the seven to 10 days, even if there is only a $600 fiscal stimulus check, and yes, that will mean senator bernie sanders and congresswoman alexandria because you cortez -- alexandria oak osseo cortez -- alexandria ocasio cortez have said they will not vote for this. jonathan: he's only saying he will give that up if speaker pelosi and minority leader chuck schumer give up on state aid. any sign they are willing to do that? kevin: to be candid, i think when you look not necessarily at the language th

in minutes, senate republicans will hold a conference call with treasury secretary stephen mnuchin. aide telling nbc news app, chuck sheeper a echoomer ay the hold up pennsylvania republican pat toomey. the president spending final days in office plotting trouble for everyone. you can't reason with him at all. joining me, anthony scaramucci, managing partner and white house communications director under president trump. anthony, thanks for joining me. we have the electoral college that voted. mitch mcconnell congratulated joe biden. what's behind the president's persistent denial over these elections? does he really believe he didn't lose or a big lie that's gotten out of hand? >> you left out vladimir putin, which i think is a very important one. he congratulated vice president, now president-elect joe biden as well. but, no. of course he knows he's lost. he's already planning possibly a television show, a network. lots of things to do when he leaves. and he's bundled a tremendous amount of money, over $250 million bundled. he's going to have to answer for the shell companies insid

administration of this is unclear but the only thing we can go back to his white secretary of stephen mnuchinsday morning a few hours before the president is started to make rumblings about the bill on his desk said we expect those techs to go out next week we need this coming week here so the $2000 but we've got to see if the senate could tackle it first. that's probably down the line deeper into january, even if they can do that and the president would have to sign that as well. >> the poverty rate was up and we were seen jobless claims on the rise and congress had not passed another coronavirus relief bill for what, eight months? chad, it appears that the bad economic news was piling up in the government had to do something despite the fact that some republicans were saying the size of the 600-dollar stimulus checks were more than they wanted even though it was smaller than what the president wanted to see. >> that's right, the concern they had the only thing worse than a government shutdown was a government shutdown during a pandemic and when you consider the economic consequences and peo

later in the afternoon, she invited the treasury secretary stephen mnuchin, to join a meeting called the four corners leadership which is nancy pelosi, kevin mccarthy, the house minority leader, chuck schumer, senate minority leader, and mitch mcconnell, senate majority leader. what is different from that time when the packages and proposals were out there, and nothing got done, first thing is democrats led by nancy pelosi said nothing less than $2.4 trillion will do it. what happened then? first, the presidential election. joe biden won. now pelosi seems eager to pass package.of stimulus this $740 billion plus is a part of the package before, but you have a democrat in the white house, so i think the political tensions for the democrats have cooled off. bipartisan leaders have said, we want to get this done, that gang -- four republicans and four the mark critz. it is trimmed down. one of the things they tempt down is paid to state and local government -- is aid to state and local government, and what liabilitys desire is protection for businesses. congress is ready to adjourn and b

pelosi, a democrat, and stephen mnuchin have expressed some optimism that they could reach a deal.e out with a package earlier this week, the first that they have really come up with since the election. table,re things on the but there is a lot of work to be done and they have to do this quickly. they need to get this done in the next few days to get it through congress before they go off and holiday break. in the start of the new year, we will have a new congress and they would have to start over again. there is a lot of pressure to get this done. are the key issues business liability shield and aid to state and local governments. mitch mcconnell scolded nancy pelosi and democratic leader chuck schumer saying they were obstructionists, they were not working toward a deal. then it gets fired back at him. chris coons told reporters that he and others are trying to release a proposal on liability protections in order to break that impasse. it could be a six-month moratorium on coronavirus related lawsuits to give employers enhanced ability to defend themselves. the virus affecting am

stephen mnuchin demanded stimulus money be returned to the government, but powell told the financialervices community is a response was not intended to show divisions within treasury. voted to in iran have end international nuclear inspections unless the u.s. lifts sanctions by february. the legislation also says to will start reducing 20% enriched isnium for what it insists for peaceful purposes. the guardian council rectified the bill but expended the deadline -- extended the deadline for sanctions relief i two months. and australia says it will not back down on its list of grievances with china. beijing has given canberra a list of issues, including australia meddling in hong kong on the morrison government's call for an investigation into the origins of covid-19. however, the treasurer told sky news australia will not give way on its stance. global news, 24 hours a day, on air and on quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm karina mitchell. this is bloomberg. ♪ at movers inlook the mining sector in sydney. we are seeing materia

nancy pelosi and stephen mnuchin are still optimistic a deal can be reached.xing documents it sent to europe's drug regulator had been accessed in a cyberattack. it is the latest in the research on coronavirus. an investigation is being launched. it is not expected to have any effect on the timing of the vexing review. -- of the vaccine review. global news 24 hours a day. this is bloomberg. anna, matt. anna: thanks, laura. facebook has been sued by u.s. antitrust officials and a coalition of states. they are accusing the company to illegally crush competition of instagram and whatsapp. suit againstgest the company and its history. matt goodwin joins us. that is the size and scope of this. this is potentially pretty huge. what are regulators going after? matt: it is pretty huge. there are lots of different regulations, and they are looking for lots of different things. things are looking quite contradictory. the antitrust authorities are looking to create enough oxygen for new upstarts to come along and be able to grow and challenge people like facebook in the

stephen the notion on the treasury size says $55 million should be used to try and pass stimulus package and this is something that congress has been unable to agree on. —— mnuchining much more than that. money taken from lending programmes used by the american central bank under the stimulus package, some have seen this as a ham—fisted way to tie the hands of the incoming us treasury secretary, assuming she is confirmed and that is janet yellen. all right, that isa janet yellen. all right, that is a story that will move financial markets. we cannot show you the numbers now but in asia, the japanese market were over by 1%. global stocks in the month of november had the best month ever and we are likely to see more positive sentiment within markets with the covid vaccines coming to market. we will keep a close eye on market and let you know what is happening. in the latest twist in the ongoing us—china trade war, beijing has introduced a ban on the export of goods — that it says — are important for national security. the list is long — from chemicals and military gear to technology. it's seen as a response to us measures aimed at hurting chinese business. joining