they wrote to steven mnuchin yesterday. they demanded that he appear before the house to explain treasury's decision to relax these sanctions. that's why mnuchin will be at the house tomorrow. he'll be giving a classified briefing to interested members of congress about that decision to relax sanctions on this russian oligarch. and i know what you're thinking. i know you're thinking, yeah, sure, maddow, i know. but that's just the democratic-controlled house. what can they do on this? actually, in this case, this one potentially could be a bipartisan and bicameral thing. and i say that not as sort of a naive hope. i say that because of recent history. republicans in both the house and the senate, they have actually been willing to defy trump on the issue of russian sanctions, even if they haven't been able to find an independent bone in their body on any other subject. they have done this. i mean, trump objected vehemently in 2017 when congress first voted to create this structure for russian sanctions, which allows congres

treasury secretary steven mnuchin is expected to make an appearance at the press briefing. we think that's going to happen in about 21 minutes. it's expected that mnuchin will announce sanctions against venezuela's embattled president nicholas maduro aimed specifically at freezing his wealth. there's word that he has control of a lot of gold reserves in the uk and that the uk may shut off his opportunity to take those gold reserves and bring them back to venezuela. so he can share them with his people. no. so he can abscond with them, perhaps. >>> meanwhile, the senate gavelled in moments ago. you are looking at live pictures of the senate floor as congress gets back to work. it now has less than three weeks to come to an agreement on border security that president trump will sign and you know this, the president told the "wall street journal" he doesn't think that will happen and if it doesn't happen, he will shut down the government again. the congressional budget office officially assigning a number now to the cost of the shutdown damage. cbo says it's $3 billion or .02%

the president himself pulled out last week, but treasury secretary steven mnuchin and the secretary of us delegation in his place. a federal grand jury in detroit has indicted four managers at audi as part of the us government's investigation into diesel emissions cheating by the parent company, volkswagen. vw admitted in september 2015 to secretly installing software in nearly 500,000 us vehicles to cheat exhaust emissions tests, and pleaded guilty in 2017 to felony charges. let's have a loot at what is trending in the business news this morning. cnbc has worked out what you'd have made if you invested $1000 in netflix in 2007. the answer: $90,000. and bloomberg is looking ahead to china's key economic growth figures on monday. it sees the impact of the trade war, but also whether the population could start to shrink if birth rates continue to go down. plenty more, including the markets. i will see you soon. pharmacists say that they are struggling to obtain some medicines, including common treatments for depression and high blood pressure, and are paying vastly increased prices for t

now, let me give the floor to steven mnuchin who will describe the sanctions we're imposing. secretary mnuchin: thank you. today treasury took action against venezuela's state owned oil company to help prevent the further diversion of venezuela's assets by former president maduro. the united states is holding accountable those responsible for venezuela's tragic decline. we will continue to use all of our diplomatic and economic tools to support interim president guaido, the national assembly and the venezuelan people's efforts to restore democracy. it is used for corruption, for venezuelan officials and businessman. will s sanctions of pdvsa preserve these assets for the people of venezuela where they belong. the path to sanctions relife for pdvsa is through the expeditious transfer of control to the interim president, or a subsequent democraticcally elected government. who is committed to -- democratcally elected government who is committed to taking concrete actions to combat corruption. today's actions against pdvsa follows my determination that persons operating in the ven

steven mnuchin is here live.ow has a thing or two to say about the cbo protections about what exactly the impact is on the economy from that shutdown. california congressman p kevin mccarthy will walk us through what the next three weeks look like with his colleagues in terms of the negotiating on border wall funding. debbie dingle is here along with richard trumpka. futures are pointing to a flat opening this morning amid all of the uncertainty over china trade, earnings, it's an enormous week this week. this after stocks finished to the downside he yesterday on the china growth fears, weak guidance from nvidia and caterpillar and worries about what happens with china and the u.s. there's conversations happening tomorrow. joiningjoining us right now is d kudla. thank you for being here. >> good morning, maria. maria: we've bun talking about what a -- we've been talking about what a week this is. fourth quarter earnings are coming out. we have a jobs report coming out on friday. brexit discussions, the vote today

steven mnuchin attempted to separate the talks from the cdictment. thnese see the targeting of huawei as political. the cfo's extradition hearing has been postponed to march 6th. the vice premier will directly send a message from president xi to president trump and could potentially influence the outcome of any deal on tde or huawei. for "nightly business report," i'm eunice eun in >beijing. customer growth slows at at&t and that's where we begin tonight's market focus. the company added far fewer wireless subscribers than expected as it tries to keep pace with verizon and t-mobile. it also lost more pay tv customers in the fourthar r. at&t has pulled back on promotional pricing for phone and television plans, as it focuses on paying down debt i following $85 billion purchase of time warner. the shares fell 4% to $29.37. >>> anthem is speeding up the lach of its pharmacy benefits management business. that move will allow anthem to accelerate itshole person health strategy which it believes will reduce the total cost of care. anthem easily beat fourth

latest on state of negotiations with steven mnuchin this morning, 8:00 a.m.rgest utility filed bankruptcy protection following massive wild fires, details coming up. howard schultz roasted. the billionaire hackled at event last night as he gears up toward possible independent run for the white house. we have a big show this morning coming from dc, u.s. treasury secretary steven mnuchin is here, national economic council larry kudlow along with house minority kevin mccarthy, debby will join me, richard trumpa. we kick it off with wall street markets. take a look at futures, have turned negative once again, futures down fractionally, 1 and a half points lower on s&p and nasdaq 13 points after stocks finished lower yesterday on china growth fears along with weak guidance from invidia and caterpillar and investors react today weaker earnings and guidance. joining me right now chief market strategists, phil orlando. >> thanks for having me back, maria. maria: indications we are seeing slowdown among other issues, how do you see the markets here as more earnings co

congresswoman jackie spear has sent this letter to treasury secretary steven mnuchin asking about reportss, mnuchin's financial relationship with a business partner of oleg deripaska. a business partner that owns a big stake in his companies and benefit from the lifting of the sanctions on dara caderipaska's companies. he was asked to please if plain the business dealings. congresswoman spear called mnuchin's involvement in deciding to lift the sanctions when that will have a financial effect quote a deeply troubling matter and a conflict of interest. and that's a big deal allegation, right? saying a treasury secretary out a personal conflict of interest in a matter like this. treasury has answered this charge twice. check this out. the treasury department ac acknowledges they do know each other personally though for the reporting last year that mnuchin quote frequented his yacht before becoming treasury secretary, the treasury department insisted that is not true. they said today mnuchin attended only one party on blavatnik's yacht and told "the new york times" mnuchin and blavatnik had

that's house sneaker nancy pelosi reacted after the treasury secretary steven mnuchin was summoned by the house to come up to capitol hill and explain why exactly the trump administration announced before christmas and signed off on the decision to relax sanctions on businesses associated with this russian oligarch known to be close to vladimir putin and the kremlin. he was sanctioned in 2016 and steven mnuchin as secretary in late december signed off on a relaxation of the sanctions, under law, under a beefed-up law beefed up by the house and senate in 2017 passed with veto proof majorities despite president trump objecting to it, under that new u.s. sanctions law, congress has 30 days to review an announcement like this, review any announcement fromm the aadministration they relaxes sanctions. congress can investigate and overturn it if they think it is improper and that is what led to this appearance today on capitol hill by the treasury secretary and as you can quickly tell from the reaction from members of congress coming out of the classifi classified briefing, secretary mnuchin

[applause] treasury secretary steven mnuchin spoke briefly at this conference of mayors. thank you for that kind introduction and for the invitation to be here today. it's an honor to join all of you. i recently had the pleasure of meeting with the delegation of mayors from the conference of mayors at the treasury department. we had a productive meeting. i realize that, as mayors, you do not simply represent your constituents, you work on behalf of thousands of families, friends, and neighbors. with that in mind, i'd like to take the opportunity to update you on a policy that's important to many of your communities back home, opportunity zones. as most of you are aware, opportunity zones were created by the tax cuts and job act, and it's one of the most important and dynamic aspects of the law. it's no exaggeration to say that opportunity zones will have a real positive impact for families and businesses across the country. it will help revitalize distressed communities, generate momentum where it is needed, create jobs, and ensure more families will share in our overall

the "wall street journal" is reporting that treasury secretary steven mnuchin has proposed lifting all or at least some tariffs on china to speed up the possibility of a trade deal a senior administration official shot down that report telling our own aman jabers, there is no talk of lifting tariffs at least right now. younunio eunice has more on beijing what's happening on that side in china? >> well, as you said, the "wall street journal" was reporting that these -- the tariff scaleback is really meant as an incentive for beijing to make deeper concessions however, a treasury spokesperson who is close to the trade talks told aemon that neither secretary mnuchin or ambassador lighthizer have made recommendations to anyone to other parts of the negotiations with china this is an ongoing process with the chinese that is nowhere near completion now, aemon was told that the focus now is on the discussions and the visit by vice premier who is going to washington on january 30th and 31st and that visit has become even more important because of the white house's announcement that president t

they say the idea is coming from steven mnuchin.e denied the report saying neither he nor the trade representation said that. -- representation made any recommendations. markets had a volatile reaction to this back and forth. where are we? >> quite a roller coaster ride going into the close in the last hour of trading. it is the same place we were before the original headlines hit. when the first headlines hit saying mnuchin had suggested rolling back tariffs because the trump administration is sensitive to financial markets and the moves we have seen last month, we saw markets despite. -- saw markets spike. we saw a boost when we got the rollback. we rolled over. markets led higher. the nasdaq and a dell are still -- and the dow are still in the green. where this puts us with trade between u.s. and china, it puts us back where we were before, sadly. emily: what is next? we are expecting higher-level talks in davos. >> we are. with the vice premier of china. those come later this month. investors should be looking out for headlines.

the ideas coming from steven mnuchin.e denied the report saying neither he nor the trade representation -- trade represent plantation said that. -- representation said that. markets had a volatile reaction to this back and forth. where are we? rideite a roller coaster going into the closed in the last hour of trading. same place we were before the original headlines hit. when the first headlines hit saying the nation had suggested because the tariffs trump administration is insensitive to financial markets and the moves we have seen last .onth, we saw markets despite we saw a boost when we got the rollback. markets led higher. the nasdaq and a dell are still in the green. where this puts us with trade between u.s. and china, it puts us back where we were before, sadly. >> what is next? we are expecting higher-level talks in davos. >> we are. ofh a device for mayor china. those come later this month. investors should be looking out for headlines. i am sure as of the talks go on, we will hear headlines. attuned to will be w

the delegations trip would have been led by treasury secretary steven mnuchin...and the secretaries of state and commerce. (robin ) we're now waiting to find out what will happen to a 50- thousand dollar reward.... meant to be given to whomever helped with the rescue of 13- year old jayme closs in wisconsin. kloss was the teen who was kidnapped after her parents had been killed by her accused captor. kristin ka-sins-kas was the woman who called 911 last thursday to report jayme had escaped. jayme had come upon jeanne nutter -- walking her dog -- and asked for help. the two of them then went to ka-sins-kas' home to contact authorities. kasinskas said she has not been offered the reward... but that if anyone does receive it, it should be jayme because she quote "got herself out." kloss' accused captor 21-year-old jake patterson... has been charged with two counts of intentional homicide and a count of kidnapping and armed burglary in connection (robin) still ahead on the kron four morning news... from rain to snow... the sierras getting a mountain of fresh powder...

whole trajectory of the economy from %-plus. 2% to 3% to 3 i'm proud that i and steve moore and steven mnuchin and a chap named donald trump put together a tax and deregulation incentive plan to restore america's growth and to operate through businesses, particularly large and small business, and i'm proud of the fact -- and this is the bone of contention. so far two years, it is precisely the blue collar group whose job gains have been the best, best since the mid 1980's, and wage gains have been the fastest. they're beating the white collars. not the level of wages but the increase. these are the things we talked about and they're coming to pass and i believe as long as the policies are in place they will continue. that's what i'm most proud of. point estimates on such and such and this and such, we don't know. reporter: you said the nanosecond government reopens, these glitches -- what about all the secondary businesses, the restaurants, the contractors who haven't been paid, the contracts that haven't gotten signed? mr. kudlow: they will get it back. i will suggest to you -- and i am a non

steven mnuchin will also be in the room later this morning. >> the president wants fair trade with china. it's got to be reciprocal. right now, china has free access into our markets and we have limited access to theirs. so the critical issues that we talked about is market access, making sure there aren't forced joint ventures, not forced transfer of technology and that we have a mechanism that when we reach an agreement that we can monitor this agreement and that they'll live up to it. >> reporter: two days of talks start today. the chinese want to avoid the tariffs of $200 billion r worth of chinese good going from 10% to 25% on march 1st. back to you. lauren: 29 days away. venezuela now, opposition leader juan guaido in an interview with trish regan says he hopes the transition to democracy there happens as soon as possible. >> democracy for the region is crucial. this is very clear to president trump. this is the last chapter of change, the last chapter of a nightmare for many citizens that were forced to migrate, that were forced to leave their country, so we're waking up from that

steven mnuchin and other cabinet members are still scheduled to attend the annual event.eantime sent democrats are refusing to consider bills that have passed through the house to close some agencies. at least one democrat seems to be seeing things the president's way. mike emanuel is on capitol hill. >> senate republicans were trying to craft a way out of this shutdown by pairing border security money with some immigration measures, democrats would support that. fox has learned president trump killed it with negotiations apparently. democrats tried bringing forth individual funding bills, the majority leader shut them down. >> at the last thing we need to do right now is to trade, pointless, absolutely pointless show boats back and forth across the aisle. >> that hit a nerve with the maryland democrat. >> this is not a showboat issue. people are being denied their paycheck. >> democrats made two more attempts at funding agencies not involved in border security. agriculture and transportation housing. he has had those will also be on arrival of the senates. the adapter pr

this is not steven mnuchin, treasury officially, or robert light heiser, the trade secretary, juniorat is good because it means the pressure is lightly. what is at stake is we have the ceasefire until march two agreed by the president in argentina. president trump has said in recent weeks that they are talking about all areas, there are comprehensive talks under way. you mentioned it is $200 billion of trade affected by 10% tariffs on the us at the moment. president trump threatening to increase that to prettify present. there are some good signs, you know, a temporary reduction in tariffs here in china, sales of soya beans from the us to china are back on. there are some good signs. the americans gave china list of some 60 changes last year, these big deals, in —— intellectual property rights, subsidies in major state—owned enterprises, these are big changes the us want. they won't suddenly change and agree on these ina suddenly change and agree on these in a short period of time. now, robin, president trump said china's slowdown might make them amenable to a trade deal. is there an

the treasury secretary steven mnuchin says president trump will meet china's top trade negotiator this importance washington is placing on the talks meeting wednesday and thursday. they will cover intellectual property and technology issues. mnuchin says enforcement will likely be key with the administration pressing china to show it can live up to its promises. >> my expectation is we'll make significant progress at these meetings but i would emphasize these are complicated issues. we have a timeline of how we've ma mapped out the 90 days. >> the maker of japan's new passenger plane is filing a counterclaim for anti-competitive behavior. mitsubishi's u.s. unit says its rival has been engaging in acts to impede development of the new jet and the filing comes in response to bombardier's allegation of mitsubishi aircraft's misappropriation. the world's top iron other producer plunged the most on record in brazil and erased $18 million in market value as it suspended dividends after another fatal dam breach. at least 65 people are known to have been killed and almost 300 are still missing

i just spoke to the treasury secretary, steven mnuchin, in the west wing at the white house.ay in toward the oval office. i can't tell you if he was meeting with the president, but this was about a minute and a half ago, i said, mr. secretary, do you have any response to this wall street journal story suggesting that you and others are advocating ratcheting down some of the tariffs on the chinese? the treasury secretary said he's not going to make any statements at this time but i did get from a treasury spokesperson this statement, they say neither secretary mnuchin, nor ambassador lighthizer, made any recommendations to anyone with respect to tariffs or other parts of the negotiation with china. this is an ongoing process, with the chinese, that is nowhere near completion. the treasury spokesperson here very much insistent this is ongoing, nothing is final, that nobody has made any final recommendations to anyone here the treasury secretary himself telling me a few minutes ago he's not going to make any statements on this. >> no recommendation is something different than sa

steven mnuchin talks to lawmakers behind closed doors. leaving democrats absolutely unimpressed. >> this is one of the worst we've received from the trump administration. the secretary barely testified. >> that's an ouch. we begin with president trump. seemingly on the brink of declaring a national emergency. even some members of his own party and the mainstream conservatives out there who support the wall say doing this would be a major mistake. i have a great team to break all of it down. first, i want to explain what's happening. the next move could mark a turning point in his presidency. he and his administration have been publicly and privately building a case for him to declare a national emergency at the southern border. here's what he said just last night. >> i can't imagine any reason why not. the law's 100% on my side. >> the idea here is that by declaring a national emergency, the president would need congress to give him the money for the wall. the silver lining is it would take the issue often the table which paves the way fo

congresswoman jackie speier has just sent this letter to treasure secretary steven mnuchin asking aboutts of his, mnuchin's financial relationship with a business partner of oleg deripaska, a business partner of deripaska who owns a big stake in deripaska's companies and who will benefit from this lifting of sanctions on deripaska's companies. congresswoman jackie speier is asking mnuchin to please explain his business dealings with the soviet-born american billionaire. congresswoman speier called mnuchin's involvement in deciding to lift these sanctions when that will have a financial effect on len, quote, a deeply troubling matter and a conflict of interest. that's a big-deal allegation, right? saying a treasury secretary had a personal conflict of interest in a matter like this. treasury has answered this charge twice. check this out. the treasury department acknowledges that mnuchin and he do know each other. as for the reporting that he, quote, frequented his yacht before becoming treasury secretary, the treasury department insisted today, that is not true. they said today that mnu

then the words out of steven mnuchin says we're making great strides. so four hours apart, five hours apart, we are getting, you know, opposite ends. that is the overhang in the market right now. that is what's really inhibiting players in the marketplace from really getting involved here. because you break it down like sarge was saying, to a specific sector or even specific stocks, you can make plays but there's still this massive overhang. it's not just the trade deal. it's like sarge said, it's brexit, there's so many other things going on. you've got geopolitical risk with venezuela in the oil space. we still have all these massive overhangs. liz: but let me get back to sarge. scott just said it distracts people but should it? should they be piling in on great names that are discounted right now? >> let me help the whole gang with this. if you want to get aggressive, you can do that but you have to maintain high cash levels. this mitigates the possibility of error. i'm at 43% cash right now. liz: really. >> have you ever heard a stock jockey say tha

a lot of pens to paper to make presentations. , tradef it is negotiators, bob lighthizer and steven mnuchin, they seem reluctant to actually say anything public, to commit to anything, because the whole process boils down to what the two leaders decide on when they are face to face. shery: thank you for that. what we can expect from the china u.s. trade talks. reserve,federal hitting pause. the central bank signals it is done raising interest rates for the time being. we asked our guests their take on the policy. they might be done. >> this is an indefinite pause. >> almost have to reset the equation. >> i think that was the big surprise. the fed cannot ignore a significant tightening of financial conditions. >> the acknowledge they are awake at the wheel. >> the fed sounded very dovish. >> the balance sheet was a mild surprise. >> the balance sheet is very important for the pricing of assets. if we see the fed blinking, that may trigger another run-up in risk assets. >> the fed is taking a prudent stance of policy right now. >> the economy is still solid but we have a conundrum of risk. >>

treasury secretary steven mnuchin is likely to lead a smaller than expected u.s. delegation to davos. in a news conference mnuchin did not confirm if he would be attending, but he said conversations about his own davos travel plans are going -- are ongoing. >> i will be discussing with the white house whether we'll continue that trip my guess is if we do continue it, it will be in a scaled back version. >> now, i want to bring into the conversation the global head of debt and rate strategy from ing. firstly, on the u.s. government shutdown over the last 24 hours, we have seen a few investment banks cutting their economic growth forecast for the u.s. for q1 as a result of the shutdown what are you expecting in terms of the economic impact of this >> yes, so far it's all politics it's showing how polarized the u.s. political set up is at the moment it is unfortunate for the people not getting paid from a u.s. micro poerspective it's a negative. there are far more serious issues out there in terms of the bigger picture, and we are expecting the u.s. economy to slow,

conference of remarksontinues with from treasury secretary steven mnuchin and senators jeff berkley and cory booker. the u.s. conference of mayors winter meeting is underway in washington, d.c., first, we watch a news conference with remarks on atlanta's mayor for security remarks at the super bowl. later, house speaker nancy pelosi talks about the government shutdown and the agenda for the coming year. >> good morning. we will have other mayors slip in as we go. we will go ahead and get started. i am steve benjamin, the mayor of columbia, south carolina. i want to welcome each and every one of you to the conference's 87th winter meeting.

debt starting to worry fed chair jay powell what he said ahead >>> and five, treasury secretary steven mnuchin going on the record about china what he said about those trade talks that is sure to get a lot of attention on this busy friday, january 1 # 1th, as "worldwide exchange" begins right now. ♪ ♪ >> well, good morning. good afternoon, good evening and welcome from wherever in the world that you may be watching i am brian sullivan. be honest. when we said records, how many of you were thinking lps are we that old, 8 tracks? you know what, anyway, let's see if the markets are going to be music to your ears today not looking that way right now stock futures, let's call them flat, down 10 points that's nothing let's be generous on a friday. this after the s&p 500 clocked its 5th straight day of gains. folks, that has not happened since september. small caps have been on even a bigger tear. the russell 2000 on pace for its best week since december of 2016 we're still well off our highs back in august and september, but, hey, nice little pop here to start the year. we are also keeping an eye on

between the two countries bloomberg has learned he will meet with treasury secretary steven mnuchin andert lighthizer. tokyo, carlos ghosn has been indicted a second time over allegations of financial crimes. he's accused of transferring personal investment losses to nissan and underreporting his compensation. he has been in jail for almost two months in his lawyers say they will apply for bail. 18-year-old saudi woman who fled the country and said she feared death is deported back home, arriving in canada which is offering her asylum. the nation's foreign minister hailed her as a very brave new canadian as she arrived at toronto's airport. her situation has highlighted the cause of women's rights in saudi arabia, were several women abuse by their families have been caught trying to seek asylum abroad in recent years. a divorce attorney has told bloomberg that the high-stakes -- will be handled as quickly as an amazon delivery. the founder of the online shopping giant has a net worth of $137 billion, according to the bloomberg billionaires index. a couple intends to part as friends, and

[applause] >> treasury secretary steven mnuchin spoke briefly this week at this week's u.s. conference talking annual meeting about opportunity zones and the president's economic agenda. [applause] thank you for that kind introduction and for the invitation to be here today. it's an honor to join all of you. i recently had the pleasure of meeting with the delegation of mayors fth

effect, steven mnuchin, the treasury secretary, has more or less said they will stop now.ill have to close bank accounts. that will have a huge impact on the venezuelan economy, the state-owned oil industry. what you are seeing america doing is this concerted move --h e has not been a briefing at the white house for over a month. today they came, the treasury secretary, the national security adviser, to say that we are turning up the heat on the maduro government. they must make waÓor juan guai, the person they want to take over. he is currely recognized as e interim president. the americans are increasing the pressure. jane: you asked them whether or not the sanctions were having any effect and whether we were seeing cracks in the military. at was their reaction? jon: wl, i also asked about whether they had noticed there s any russian involvemen because the venezuelans have a lot of russian military equipment. that part of my question was sidestepped by the national security advisor, john bolton. but he did say that he thought their intelligence was that at the lower leve

conference of remarksontinues with from treasury secretary steven mnuchin and senators jeff berkley and cory booker. the u.s. conference of mayors winter meeting is underway in washington, d.c., first, we watch a news conference with remarks on atlanta's mayor for security remarks at the super bowl. later, house speaker nancy pelosi talks about the government shutdown and the agenda for the coming year. >> good morning. we will have other mayors slip in as we go. we will go ahead and get started. i am steve benjamin, the mayor of columbia, south carolina. i want to welcome each and every one of you to the conference's 87th winter meeting. will ask get started i the mayors to do a quick rollcall. lily may fromor fremont california. [roll call] >> the mayors who stand before you are republicans, democrats, and independents, they come from cities both large and small, urban, rural, and suburban but the labels do not finest. what you see before us is one united group. a group that governs in real time, does not get distracted even by major disagreements and collectively work together to imp

that was the idea touted by treasury secretary steven mnuchin. however, there is a possibility that they could face pushback from u.s. trade presented of robert lighthizer. he believes that any concessions would be perceived as a sign of weakness. all that aside, the potential new thorn in the side of china is on the table when it comes to trade. that is from a bipartisan group of u.s. lawmakers. i have introduced a bill that would ban the sale of american chips and other components to huawei, zte, and other telecom companies that violate u.s. sanctions. the move risks further escalation in the terms of that trade conflict between the two countries. it will certainly make those upcoming negotiations potentntially even trickier.r. >> nothing would work in hallway and zte plants without u.s. semiconductor chips. they need american technology from tech giants like intel, amd and qualcomm. plans by u.s. lawmakers to ban the sale of chips to companies who violate trade laws. the chinese government has sharp words for what it sees as effoforts to destr

>> treasury secretary steven mnuchin gets very upset when others in the administration talk about thearticulars of currency manipulation. here's what i can tell you, and i think -- >> wait. so this is a turf war. this is a staff turf war. >> yeah. he views that as his domain. here's what i can tell you. china undervalued its currency and was the worst currency manipulator, it's generally recognized, from about 2003 to about 2014. and when a country undervalues their currency, what that does is -- it makes their exports cheaper and it makes our exports more expensive. >> you don't think they're doing it anymore? >> well, there's more debate about it now, but it's an interesting and important issue. >> what are we doing, from a trade perspective, from your office, or from the administration, to compete with china not just in china, but what about the spheres of influence they are expanding to -- latin america, africa, southeast asia? >> the reality is that we haven't done soft power very well for many, many, many decades. there's an awareness now that we need to do it better, and we're

i'll turn the podium over to steven mnuchin to announce sanctions against the state-owned oil monopolyve continued to expose the corruption of maduro and his cronies and today's action ensured that they can no longer loot the assets of the venezu a venezuelan people. we expect that today's measure totals $7 billion in assets blocked today plus over $11 billion in lost export proceeds over the next year we also today call on the venezuelan military and security forces to accept the peaceful, democratic and constitutional transfer of power and to a certain extent this has begun. we have seen venezuelan official and military personnel heeding this call. the venezuelan defense attache here in washington recognized president guaido a few days ago and the first consul in miami has also declared for interim president guaido i call on all responsible nations to recognize interim president immediately. maduro made clear he will not recognize guaido or call for new elections. now is the time to stand in venezuela. i reiterate that the united states will hold venezuelan security forces responsibl

this comes days after steven mnuchin briefed house lawmakers on the decision to ease sanctions. government shutdown is now in its 23rd day making it the longest in u.s. history. watch the house monday live at atn eastern, senate live three p.m. eastern. conversation hearings for william barr to become the next attorney general began on tuesday. in december, president trump nominated him to replace jeff sessions who held the position for a year and a half. counselbarr is now of to a law firm and served as u.s. attorney general for george h w bush. watch the confirmation process eastern ony at 9:30 c-span three. week, senateis debated abroad middle east policy bill, one that would allow members to talk about president trump's decision to bring u.s. troops on from syria and also levy sanctions against the assad government. here is some of this week's debate. >>

they're demanding an immediate meeting with the secretary of the treasury, steven mnuchin to explaine are going away. we write in response to a december 19th notification indicating that the treasury department intends to terminate sanctions on these three russian companies as part of a deal with oleg deripaska, a russian oligarch who has abetted the putin regime's malign activity against the united states. with oversight jurisdiction over the u.s. simmons to russia's attempts to interfere in our elections and other hostile actions, we have a number of concerns about the agreement that the u.s. has reached with mr. deripaska. the seven committee chairmen are asking treasury to delay the implementation of this relaxation on deripaska's companies. they're asking for a full explanation how the treasury arrived at this decision and they want a meeting between steven mnuchin and, quote, all interested members on this subject and they want that meeting soon before the sanctions are withdrawn. again, the clock is ticking. congress has 30 days to object to the lifting of these sanctions. the

the expectation is that he could come to washington to mht w treasury secretary steven mnuchin and robert lighthizer if all goes well. today wilbur ross defended the administration's stance. he said china has rlized how dependent it is on the u.s. economy. >> what will come out of it is a resolution, are we going to go the negotiated route or are we going to go in the original rection of higher tariffs. it's really a binary set of decisions. >> reporter: there was also a report that president trump could meet with china's vice esident at the world economic forum in but the white house is not confirming trump's schedule of meetings just yet. we do know that trump will be there. the chinese will be there. we'll see if the two sides will sit down and talk. for b"nightlyiness report," i'm ylan mui. >>> oil prices are b creepingk towards $50 a barrel. saudi arabia plans to make shoe cuts to its crude exports in n effort to push prices higher. lift have gotten a between the easing of trade and economic concerns so domestic crude settled up today about 1%. >>> eli lilly is pushing further into t

the president himself pulled out last week but treasury secretary steven mnuchin and secretary of statempeo were expected to lead the us delegation in his place. ryanair, which is europe's biggest airline by passenger numbers, has lowered its profit guidance for the year ahead. it's blaming lower than expected air fares, saying that there is too much capacity in the short haul european air market. our business correspondent is theo leggett. tell us more about this profit warning. would —— should we be worried? ryanair is not worried and they think there could be benefits from the trend we are seeing at the moment which is that there is more capacity available for winter holiday markets and therefore it has had to cut its prices. ryanair things as a result of that there might be more of a shake—up in the budget airline market. we have seen that over the past couple of years with moderate going out of business. the chief executive of ryanair things others might be vulnerable as well and rya nair could things others might be vulnerable as well and ryanair could end up boosting its market s

. >> reporter: good morning, anne-marie.pos that treasury secretary steven mnuchin might support removingof the tariffs imposed on chinese imports. top american and chinese trade envoys will hold talks in washington later this month. technology, industrial, and health care companies rose on wall street. the dow rallied 162 points. the s&p 500 added 19, and the nasdaq gained 49. >>> netflix is signaling that its growth is slowing in the u.s. even though it added more subscribers than ever during the holiday season. the streaming service ended december with about 139 million subscribers worldwide, slightly better than analysts predicted. but netflix is projecting it will add just 1.6 million subscribers in the u.s. during the first quarter. that's down substantially from last year. it comes as netflix announced double-digit price increases. >>> former cbs ceo les moonves is fighting to get his severance. he was denied his $120 million severance package after investigators say he violated company policy and was uncooperative with the probe into sexual misconduct allegations. in a filing with

according to the wall streetjournal and financial times, she will assist treasury secretary steven mnuchincement, who is stepping down as world bank president after six years in the post. china's government has signalled that it will take more action to boost the country's slowing economy. tax cuts and more infrastructure spending are on the cards for the world's second biggest economy as it feels the pain of the trade war with the united states. 0ur correspondent robin brant is in shanghai... we don't have that much concrete detail yet, do we, we don't have that much concrete detailyet, do we, but we don't have that much concrete detail yet, do we, but tell us what you know. what we have at the moment isa you know. what we have at the moment is a kind of smorgasbord of measures from the people's bank of china and central government, all following on, the central bank, rather, all coming from a meeting of the communist party leaders. we have a reduction to the rate requirement for banks, the amount of money they have to keep set—aside, we have measures to encourage provincial governments t

treasury secretary steven mnuchin, and mike pompeo had expected to leave the u.s.ople like wilbur ross and others were planning to be there. there will be lent of executives there for us to be talking to and bring you news this is the super bowl of squawk jp morgan, goldman sachs, bank of america, ibm, uber, che ron, cisco, dell, marriott, and dozens more. if you want a sneak peek of what's actually going on in the business world, this is the week to watch >> that's right. >> you got to watch every day. >> every day >> i just want to be clear >> this is back to back biggests >> biggests. >> coming up when we return, the breaking news of the morning we will talk tesla they are cutting jobs. we have details and the memo we'll talk about all that after a break. plus, we're going to talk to one of asia's largest private equity firms about doing business in china. the trade war where he is investing now. that is next head to a break to a check on what's happening on european markets right now. at&t provides edge-to-edge intelligence, covering virtually every part of you

the announcement comes days after treasury secretary steven mnuchin briefed house leaders on the decision to ease sanctions. >> the government shutdown is now in its 23rd day, making it the longest in u.s. history. watch the house monday live at noon eastern on c-span and the senate live at 3:00 eastern on c-span2. >> the senate confirmation hearings for the next attorney general of the united states begin tuesday. in december, president trump nominated him to replace jeff sessions. counselbarr is now of at a law firm and served as the u.s. attorney general for president george h.w. bush. watch the confirmation process for attorney general nominee william barr tuesday on c-span3. wednesday, democratic virginia governor ralph northam delivered his address to the legislature. during his speech, he proposed a budget plan based on expected last year's tax overhaul and wanted lawmakers to consider his plan to reduce gun violence through universal background checks and a ban on assault weapons.

the journal reports that treasury secretary steven mnuchin wants to lift some or all tariffs to movealks forward. the treasury department denied that, but the report moved markets. trade representative robert lighthizer is against such a move. theresa may has canceled her trip to davos next week to reach a brexit deal with rival parties. she's also working on a so-called plan b, which will be presented to parliament monday with mp's voting a week later. they say a second brexit referendum remains an option. the eu says they could be flexible if the u.k. changes its stance. bank indonesia says the outlook at the federal reserve prompted its decision to hold rates unchanged at 6%. are halfnor says rates of the effort to reduce the current account deficit and the strategy has almost reached a peak. he says he remains hawkish and preemptive, and fed hikes have been priced in to the planning. four audi officials have been indicted in the u.s. for their roles and a conspiracy to defraud customers and regulators by rigging engines with illegal software to pass emissions tests. that includes

he will be meeting with steven mnuchin.eral investigation adding legitimacy to the case the u.s. has been trying to make for years that a chinese company has breached security. lawyer rudy's refrain has a popular on collusion, telling cnn the president never colluded with russia. robert mueller is investigating russian collusion. angeles, teachers will be back at the bargaining table. it was the first strike in 30 years. saysict -- the district teacher's demand could bankrupt the district. global news 24 hours a day, on air and on tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm kailey leinz. this is bloomberg. vonnie: thank you. it has been a big week for earnings for banks. morgan stanley falling short. 30%.unged down.rading revenue was banks are saying it is because of volatility. i thought volatility was good for traders. >> we have been hearing this refrain on calls about bad volatility. in the fourth quarter, we had two periods of sharp, said in moves -- of sharp, s

. -- robert light heiser and steven mnuchin.tt's see if they do during the davos discussions. david: the plot thickens. thank you so much. alix: joining us now from pittsburgh is the senior equity market strategist. do you want to be buying into the rally now? >> it is easy to buy into the s&p 2700 is where you will find serious resistance. be in a trading range all year until we get through some of these big uncertainties. alix: you mentioned that. hipping have some w action. slow him about avoid recession and interest rates peak, there should be room for a risk rally, and any investors who miss out could lose out on the local of returns. -land again?mo >> it's not so much how much progress they make, because the big progress that needs to be made will take longer than a march 1 deadline. particular, avoid a recession and have a soft landing? if it were to fall into recession, it could drag in the breast the world, if not the u.s. that is not emphasized enough and that is separate from these talks. recession andthe you can have