treasury secretary steven mnuchin said there was a productive working dinner last night. >>> a federal judge has rejected nestli's bid to throw out a lawsuit. the judge says it does not qualify as a genuine natural spring. >> the airline wow just a roughly shut down service. what do you do when that happens? >> reporter: travel experts say immediately get in touch with another airline flying out of the same airport and book a new flight. often, other carriers will help with lower fares. iceland air has made an offer with this respect. this happened before when another airline shutdown and several airlines stepped in to fill the gap, including delta. get and use travel insurance.

meantime, down just reporting rubber lighthizer and steven mnuchin will be flying to beijing next week. ustr lighthizer and steven mnuchin will be flying to 25.ing next week, march official telling bloomberg they are concerned china is pushing back, possibly walking back some of its trade pledges. let's get to sarah mcgregor, who leads our economic policy coverage in washington. an exclusive here at bloomberg, this new headline that there seems to be a reaction from officials, lighthizer and mnuchin flying to beijing next week. is this a direct result of what officials are telling us? sarah: we did report earlier -- u.s.at china, officials are concerned china is walking back some of its pledges. we have heard from u.s. officials predominately this year that progress is being made in talks, we have seen trump twice delay an increase in tariffs on chinese goods, mostly a good story for these talks. what we show today with this reporting is china is getting pushback and there is still a lot of room to go here for a deal to be reached. of course now we have reports that lighthizer and mnuc

in a letter to congress, trsury secretary steven mnuchin said honoring the full faith and credit of the united stes is a critical commitment, and he urged congress to raise the debt limit. but those negotiations have yet to begin in earnest on capitol hill. >> i think on a bipartisan level we should sit down together and find a way that we can stop the spending behavior of this vernment and actually curb where we could pay off our debt. >> reporter: to make this even complicated, the deadline for the debt ceiling is smack in the middle of two other big fiscal fights. the deadline to fund the tvernment and prevent another shutdown and deadline for avoiding automatic spending cuts that would chop $125 billionut of the federal budget. >> unless we get a budget deal, sequestration returns in fiscal year 2020. that would mean steep cuts inha programs invest in america and support working families. >> reporter: for now, the cck is ticking. for "nightly business report," i'm . ook at is time to take a some of today's upgrades and downgrades. american airlines and delta downgraded to hold from

we just heard from treasury second steven mnuchin. let's get right to kayla who is live in d.c. with more on these trade talks and why there is optimism today kayla. >> we're still waiting for some of the details to trickle out from the meetings that took place in beijing overnight between the u.s. and china. as the two sides try to work through a trade breakthrough that was smfd by the end of the month, larry kudlow, director of the national economic council, signalled it could be months, but that the two sides are moving in the right direction. that is an important point for market watchers of this situation. now, yesterday before leaving for a rally in michigan president trump answered a question on china trade, and it's been one that we've been mulg throughout the week how does the mueller report in its findings potentially change the tenor of these china trade discussions. here's what the president said on that. >> i can say this. >> we will see exactly what was put forward and agreed upon in these meetings as some of these details start to come out. >> does it appear that

this week, our principles, which is steven mnuchin, treasury secretary, and bob lighthizer made a lot of good progress. they are not quite there yet. there are still some places to go, but bob lighthizer has taught me everything about trade. he's a very cautious man, but he is indicating that we are gaining on it and we have some things to do. one of the most interesting things or two of the most interesting things, china's people's congress, that is probably not the right name of it, but they passed a law that will restrain any intellectual property theft and will also restrain any forced transfer of technology, which is an ownership question that will allow the united states companies operating in china to own their own companies and these joint ventures, which forced us to give up blueprints in technology, so the people's congress passed laws to deal with that. that is extremely promising. the currency fixes very well. no competitive devaluations and absolute transparency for any intervention in the open market. that is breaking new ground. what we are left with now is more enforce

robert lighthizer and steven mnuchin go to beijing thursday and friday.e premier plans to travel to the states the following week. negotiators have voiced concerns china is backtracking. e.u. recalling all ships involved in a joint mission to rescue migrants in the mediterranean sea. operation sophia has been reducing migrant smuggling. a lack of naval support makes it harder. the anti-migrant government won't allow rescued migrants into ports. u.s. regulators plan to tighten rules that govern how medicines are manufactured. fda wants to ensure the safety frompply with recalls abroad on the rise. makers of generic drugs and key ingredients in china, india and elsewhere had in some cases, -- hiddenunfavorable or destroyed unfavorable data. global news 24 hours a day on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. shery: breaking news. saudi aramco acquiring 70% stake. this confirmed from earlier reporting on twitter. there was an agreement to buy a majority stake from the king

of course, treasury secretary steven mnuchin and trade rep is of -- trade representative bob lighthizerjing next week. no indication on when president trump and president xi will sit down together to finalize any agreement. biden,vice president joe the worst kept secret in politics, is gearing up to launch a presidential run for the white house. there's a lot of folks who suggest when he gets into the race that this would be the official start of the democratic primary season. he has without question name recognition, access to donors, and you would be marking a political pillar of sorts from an ideological standpoint that contrasts someone like senator bernie sanders. what is interesting is how the other candidates will fall into that spectrum, someone like a senator elizabeth lauren, who has refrained from using the term democratic-socialist. all of these jockeying's and tensions, it is still very early. it is not really going to heat up until the fall, but the first debates will happen the summer. guy: is it going to be -- i'm trying to figure out what is going to happen first. is it

as you said, robert lighthizer is going over, steven mnuchin, , and thenbegin a deal the vice premierf china is coming to the u.s. next wednesday. thesesly, the hope is very high-level talks will produce a deal that trump and si -- xi can sign. to answer your question, who knows if this helps trump a bit. on the margins he is probably feeling more confident about his domestic base. china continues to have a problem with a slowing economy. that is one of the reasons we have seen china making more and more of an effort to reach out to the u.s. to strike a deal. they are tired of these tariffs. they are not good for them. that is a positive sign of a deal but there are a lot of negatives as well. sne is just that the tariff already in place, trump wants to keep them in place until china has clearly complied with whatever terms of a deal is struck. the chinese say no, we want the tariffs to come off now as a condition for making our concessions. that is a stalemate. theie: it could also be middle ground, if china goes hard on the fact that they want tariffs to come off, at least it has so

robert lighthizer and treasury secretary steven mnuchin will be in beijing. .e will get rate decisionshere is u.s. retail and auto sales, plus i assume manufacturing. friday, the main event, the payroll report right here in the united states. rosner stilleorge very much with us. what you looking for? we areooking --george: looking for to go down. we do not think it will be as meaningful as people think. jonathan: marilyn? marilyn: we think it will be softer than the market is expecting, but given this environment, it's all very positive. jonathan: greg? greg: it's not just about payrolls. it is important to see how the market reacts to softer data. if the bond market does not really move, that is a mixed .ignal jonathan: we have been willing to give the policymaker the benefit of the doubt. that the bondsure market rallies. i think there's some quarter end of fact. i think that's an opportunity to get long. jonathan: do you think it might be higher? just for the short-term, but for the longer term you're going down. jonathan: marilyn? market reacted so vigorously. in the eurozone and j

citing trump administration officials, the us trade representative and the us treasury secretary steven mnuchiny to china to meet the chinese trade minister and they will pay a return trip to washington the following week. google has announced its entrance into the high—end video games industry. its new platform called stadia is a streaming service that, unlike traditional consoles, doesn't require gamers to download content or own it all on a disk. instead, games on stadia will be streamed over the internet. our north american technology reporter dave lee asked google ‘s head of stadia how the business model would work. we're talking specifics on the games business model today. our vision today is to share the platform, the technology, the integration with u—tube, the ability to see one game vision reach scale across multiple devices. of course, this might remove the need for people to spend money on consoles, which are expensive, but it does mean people will need to have very good internet connections, very expensive internet connections, for this to work fully. if i am a parent, i am looking

us treasury secretary steven mnuchin and us trade representative robert lighthizer are meeting china'son friday with both sides warning there's still a lot of work to be done. five of the uk's largest airlines are facing legal action which claims pilots and cabin crew are regularly exposed to toxic fumes during flights. the unite union says legal notice has been served in 51 cases, the majority of which are against british airways — as well as easyjet, thomas cook, jet2 and virgin atlantic. the airlines say that previous studies found no proof of long—term ill—health arising from cabin air quality. the wealthy sackler family is facing new charges it fraudulently transferred billions of dollars from purdue pharma, the firm it owns that makes opioid painkillers — to protect the funds from litigation. purdue is facing thousands of lawsuits over how it marketed 0xycontin. the family say it "strongly" denies the allegations and will "vigorously defend against them". and now — what's trending in the business news this morning. the wall streetjournal focuses on lyft and the latest move in its

administration officials, us trade representative robert lighthizer and the us treasury secretary steven mnuchinng next week to meet chinese vice—premier lie he, who will pay a return trip to washington the following week. china's xiaomi ended a tough 2018 on a high. net profit at the world's fourth largest smartphone maker more than tripled compared to the year before. a fall in global sales was more than offset by booming demand in india, where it outsold all its competitors to take a 30% market share. the crisis at india'sjet airways is deepening. the country's increasingly worried government has called an emergency meeting, angry passengers are demanding refunds, and pilots are threatening to strike over unpaid salaries. the carrier has now grounded six more aircraft as it struggles under the weight of debts totalling more than $1 billion. 0ur india business reporter sameer hashmi has the latest from mumbai. jet airways is struggling for survival and the situation is getting worse by the day. the airline has cancelled hundreds of flights in recent weeks and has grounded more than half of its

steven mnuchin highlighting constructive talks between the u.s.ne for glow mall markets. in the u.s., it's up, taking a cue from china, dow industrials up 113 points right now. things have rallied in the last 20 minutes. s&p 500 is up 11, nasdaq is up 32. we'll see a firmer beginning with stocks this morning. after a pretty good day yesterday on renewed trade o optimism. the s&p was up 10, nasdaq up 25. in europe this morning, firmer tone here. fq100 up 25 points, the cac in paris up 45 and the dax index in germany up 96 points. in asia overnight it was all about china. that was the top performer, up three and a quarter percent. the purchasing managers index out of china is coming out sunday morning. this is a big report, people are going to be focused on, gives you a sense of manufacturing and the economy in china that may set the tone for monday markets. president trump spoke out at a rally in michigan, he touted job creation in america. >> after years of stagnation, wages are rising fast. unemployment has reached the lowest rate in 51 years and

cheryl: trump's comments coming as treasury secretary steven mnuchin and u.s. trade representative robert lighthizer travel to beijing next week for talks with china's vice plea pr. trump will meet with a business round table in washington today which represents the ceos of major u.s. companies. lauren: let's go overseas. the british prime minister formally asking for a delay in the country's exit from the european union. she sent a letter to the e.u. council president requesting a delay until june 30th saying she needs more time to convince parliament to pass her deal. they didn't pass it two times. she went on television last night to tell the british people she was just as tired that's are. >> two years on, m.p.s are unable to agree on a way to implement the u.k.'s withdrawal. as a result, we will now not leave on time with a deal on the 29th of march. this delay is a matter of great personal regret for me. lauren: the e.u. is set to leave a week from tomorrow. officials suggested a short delay is possible. cheryl: well, a shocking report from some ford owne

the chinese vice premier goes to washington after robert lighthizer and steven mnuchin visit beijing.get rate decisions from australia and india as well in terms of economic data there's plusretail and auto sales a slew of pmi's and finally on friday it is the main event. the payrolls report here in the united states. still with us, greg peters and george rosneft. looking ahead to payrolls, what are you looking for? george: we are looking for it to go down a bit. we think that will decline. marilyn: i think we are looking for something a little softer than the markets are expecting. in this environment given it is , full employment economy, that is positive. greg: big week across the board. what is more important is what markets react to softer potential data. if you get a situation where the data comes in week -- comes in weak and the bond market doesn't move or sells off, that is a signal. jonathan: how do you think the market will respond to weaker data? we have been willing to give the policymaker the benefit of the doubt. the ability to stabilize. is that faith being tested? geor

the chinese vice premier goes to washington after robert lighthizer and steven mnuchin visit beijing.e decisions from australia and india. plusretail, auto sales manufacturing results and pmi's. finally, the main event on friday. the payroll report in the u.s. guys, let's begin with you george. what are you looking for on payroll friday? >> we're are looking for it to go down. we think that will decline and not be as meaningful. >> we are looking for something potentially softer than the market is expecting. given it isronment, full employment economy, that is positive. >> big week across the board. whatis more important is markets react to softer potential data. weak and the bond market doesn't move or sells off, that is a signal. jonathan: how do you think the market will respond to weaker data? we have been willing to give the benefit of the doubt. the ability to stabilize. is that faith being tested? >> i don't know about the faith itself. i'm not sure the bond market rallies continues now. effectse quarter end that come in and you see things back off a little. opportunity to get

front of the house ways and means committee, where they were pulling all kinds of things out of steven mnuchin, he said he spoke with a top chinese trade official last night and this is mnuchin's quote. he expects elements of the trade talks to be resolved soon. elements. but it was another area of trade that president trump focused on during his meeting with the irish prime minister at the white house, just about an hour ago. this time, mr. trump set his sights on continued talks with the european union. here's what he said about that. >> they're willing to talk to us and if they don't talk to us, we're going to do something that's going to be pretty severe economically. we are going to tariff a lot of their products coming in because the european union treats us very very unfairly, i have to say that, very very -- they treat the united states and they have been for many years, for decades, they have treated us very unfairly. so it will probably work out. they are negotiating. they want to see if they can get -- otherwise we're going to do something that's going to be good for the united stat

. >> thanks, brian well, the trade representative robert lighthizer and steven mnuchin have arrived in beijing. they had told reporters that the two are looking forward to productive meetings. the commerce ministry also confirmed that the two are going to be having dinner tonight with the chinese vice premier where they're going to be talking trade and then continuing those conversations for the full day tomorrow the ministry also said that since the last round of talks, much progress has been made over the phone, but that a lot more work still needs to be done. sources who have been -- who are familiar with the negotiations have been telling me that the two still have to work out the undefined terminology in the text of the agreement. they also have to find a way to make the deal enforceable and clarify how and when tariffs will be imposed as well as close the gap on structural issues however, u.s. officials told reuters that they feel that the chinese have gone farther than they ever have in the past when it comes to the force technology transfer issue, saying that the scope and the

steven moore. good evening to both of you. let's listen to what steve mnuchintax returns. here it is. >> i'm happy to accept it. if i have a request, which i presume from what i've read in the press i will receive, i will consult with the legal department within treasury, and i will follow the law. >> do you think democrats are really going to see trump's tax returns? >> well, look, they should. the american public should at this point. trump has defied basely a half century of norms about the president releasing his tax returns. i think we have to assume he doesn't want us to see something quite badly, and maybe that something is that he's not paying very much in taxes or he's committing tax fraud or bank fraud, overstating the actual income he has coming in. that would be embarrassing, possibly criminal. i think what we actually want to know is who does he owe money to and who is he getting money from? that's what the american public needs to know at this point because you have to remember, like, this is guy who banks would not lend money to. this was a guy w

treasury secretary steven mnuchin and u.s. trade representative robert lighthizer have landed once again in beijing, as we said. this is their fourth trip now, hoping to close that elusive trade deal with china. but remember exactly one month to the day ago, secretary mnuchin revealed the u.s. was readying it was a 150 page trade document. in an interview with the south china morning post, frequent "countdown" guest michael pillsbury and the man the president called quote, the leading authority on china, said he does not think a deal is close between china and the u.s. because the chinese haven't even seen a chinese language draft of that trade document yet. they can't agree to it, michael pillsbury says, if they don't have it in their language. they need the version in mandarin so they truly understand what's at stake. chinese ministry of commerce spokesperson telling reporters china's leaders quote, always believe that cooperation is the best choice for china and that the u.s. says isn't just beneficial for the two countries

no trade deal in hand, so why is treasury secretary steven mnuchin smiling? >>> and with 29 underwriters, charlie's about to break it on the banks that are getting the most lift on the lyft ipo. less than an hour to the closing bell on this friday. let's start the "countdown." liz: and we have this breaking news. president trump apparently just let it drop that he's going to have a news conference in one hour and our fox business d.c. team is quite sure it centers around this woman on your screen. his small business administration chief, linda mcmahon. chatter swirling in the past several hours that she will step down from that position. the co-founder of wwe, yes, the world wrestling entertainment company, is expected to rejoin the private sector. the president, we understand, will step before the cameras at mar-a-lago in florida at 4:00 p.m. eastern. fox business has our cameras there. >>> to wall street. wall street's adding a few pages to its history book at this hour. we are looking at the dow, s&p and nasdaq. s&p is having its best quarterly performance

the chinese vice premier goes to washington after robert lighthizer and steven mnuchin visit beijing.t rate decisions from australia and india, as well. u.s. retail, auto sales plus manufacturing results and pmi's. and finally on friday, it's the main event. it's the payroll report in the u.s. still with us, guys, let's begin with you george. what are you looking for on payroll friday? george: we're looking for it to go down a little bit. we think that it'll decline and not be as meaningful. marilyn: we're looking for something potentially softer than the market is expecting. in this environment, given it's a full employment economy, we've added jobs. that's positive. greg: i think it's a big week across the board. what's more important is what markets react to softer potential data. if it comes in weak and the bond market doesn't really move or sells off, that's a signal. jonathan: how do you think the market will respond to weaker data? because we have been willing to give the benefit of the doubt. the ability to stabilize the situation. is that faith being tested? george: i don't k

it will come close on the heels of a trip to beijing by steven mnuchin and trade representative robert lighthizer. the details revealed saturday about the timing of the visit offered a new hint of optimism as talks on the trade agreement between the two worlds biggest -- world's two largest economies. chinese president xi jinping recruited italy's populist government into the global belt and road development project. the two countries signed a memorandum of understanding in rome, sealing rome's participation. italy's the first g7 nation to volunteer for a role in the program. chinese and a telling companies signed a 10 agreements, potentially worth as much as $23 billion. israeli prime minister benjamin netanyahu denied profiting from a state contracts to buy submarines from a german conglomerate. in an interview to a television channel, he called the claims from a political rival blood libel. netanyahu held and accompanied became -- in the conglomerate. netanyahu insists he reported the holding and shares, then selling them and paid the appropriate tax on the gains. about 51 million p

it will come close on the heels of a trip to beijing by steven mnuchin and trade representative robertighthizer. the details delivered saturday about the timing of the visit will offer a new hint of optimism as talks on the trade agreement between the two worlds biggest economies continue. chinese president xi jinping recruited italy's populist government into the global belt and road development project. the two countries signed a memorandum of understanding in rome, sealing runs participation. rome is the first g7 nation to volunteer for a role in the program. chinese and a telling companies signed a 10 agreements, potentially worth as much as $23 billion. israeli prime minister benjamin netanyahu denied profiting from state contracts to buy submarines from a german conglomerate. in other interview to a television channel, he called the claims from a political rival blood libel. netanyahu held and accompanied conglomerate.he he insists he reported the holding and shares, then selling them and paid the appropriate tax on the gains. global news, 24 hours a day on air and at tictoc on t

treasury secretary steven mnuchin says more work is needed in the negotiations.h sides are working to reach a deal as quickly as possible. president trump delayed a threatened march 1st tariff hike on chinese goods following a late february round of talks. >>> on the economic calendar, investors will get insight into how consumers are viewing the current state of the economy today. the university of michigan will be releasing its reading for march. here on wall street, the dow closed up seven points. the s&p 500 shed two, the nasdaq lost 12. >>> connecticut's highest court has sided with the families of sandy hook shooting victims ruling a wrongful death lawsuit against gun maker remington can go forward. the ruling is a victory for the families who have argued that remington, the nation's oldest gun maker, should face liability in the shooting rampage. the families say the company glamorized the rifle used in the sandy hook attack and marketed it as a weapon of war. >> all we want is our day in court, for the law to be upheld, and for a jury to decide our case.

. >>> and treasury secretary steven mnuchin today did confirm that the trade negotiations with china will not be wrapped up by the end of this a month had been hoped for. it turns out while the protracted talks continue, our trade deficit with chinaas ballooned. exports to china fell by 25% last year while imports have skyrocketed. jane wells is at the port of los anles for us >> reporter: you're looking at the largest ship ever to dockt a north american port, capable of holding 19,000 standard containers. it's a giant symbol of how out of whack trade is between the u.s. and china since the tariff war began last year. >> with 1.8 billion square feet of warehousing we have in southern califocyia, 1% vacrate. >> reporter: imports from china surged last year, up $34 billion rom the year before, while exports of u.s. goods plunged 10 billion. so muchraffic has been coming in from china as companies front load ahead of potential tariffs. it's been gat for the por but gummed up the works. >> trucks are waiting longer, railros are repositioning equipment. cargo owners are carrying a lot of

. >> secretary steven mnuchin, and robert lighthizer begin talks in beijing. he looked forward to product i meetings overnight including forced technology transfer >> does that really mean unprecedented? >> i think it means how you enforce it the issue here, as a lot of people have mentioned, is that china makes a lot of promises, and even if these are unprecedented promises, do they feel any more urgency to actually make good on them that's going to be the case. we should note that some officials are backing off an april time frame and saying that makes it's june now. maybe it's that g20 meeting that we're going to see as athe breakthrough zbrienks the company now expects that price to be between $70 and clars 72 a share targeting a valuation of $24 billion that is up from previous expected range of $6220 $68 a share. it's expected to start trading tomorrow on the nasdaq under the ticker lyft. >> the chaengsz are primarily software-related boeing is also enhancing pilot training for the 737 max meantime, the senate panel demanding answers on how boeing planes

us treasury secretary steven mnuchin and us trade representative robert lighthizer are meeting china's a full day of negotiations on friday — with both sides warning there's still a lot of work to be done. five of the uk's largest airlines are facing legal action which claims pilots and cabin crew are regularly exposed to toxic fumes during flights. the unite union says legal notice has been served in 51 cases, the majority of which are against british airways as well as easyjet, thomas cook, jet2 and virgin atlantic. the airlines say that previous studies found no proof of long—term ill—health arising from cabin air quality. china's tech giant huawei says it made record revenues last year, despite controversy around the world over the security of its products. sales of its smartphones soared — it may be on track to leapfrog apple and samsung to become the world's market leader this year. christine hah is in singapore. it's doing well despite these issues and controversies over security worldwide? yes. if you remember, this is the company that the us says could help china spy on the wo

trade representative robert lighthizer and trey ticket terry secret -- trade secretary steven mnuchinvisit. u.s. negotiators are voicing concern china is backtracking on earlier pledges. a southwest airlines boeing 737 max 8 airliner made an emergency landing in orlando, florida tuesday. southwest saying pilots reported a performance issue with one of the planes engines. no passengers were onboard. the engine problems appear unrelated to the control software problem that contributed to a pair of recent crashes. the is investigating. houston's refining industry may be on the verge of a crude supply shortage because for a fourth date, safety concerns are still restricting traffic on the houston ship channel. a chemical fire spewed toxins into the air, and you can see this plume of black smoke. that prompted the coast guard to step in. the key waterway connecting local oil refiners and chemical companies to the gulf of mexico. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm viviana hurtado. th

the trade representative and the treasury secretary steven mnuchin helped yesterday, the chinese negotiatorew progress reporting. thanks to michael mckee, you can catch the full lighthizer hearing at life go. -- live go. guide? -- guy? guy: this is the situation in europe. the big moving parts with what is happening with the uk's debates on brexit. the pound is down. -- trading soft. trading a little bit higher, the focus. what is happening with the banking sector? the pound story took a lot of the focus earlier on in the session, the pound coming down quite sharply after the u.k.'s general decided he could not change his advice when it came to the irish backstop and the pound tumbled on the back of that news. we saw a significant reaction. banks werethat the under a little bit of pressure and moving in the opposite direction. stock, oncethe affected by this brexit story. we will continue to monitor the situation. you will be able to catch a live as well a little later on this session that is going to start at 7:00 p.m. bonnie in london on the vote that is going to take place in westminster

steven mnuchin saying over one is a 50 pages of this deal. date foryet have a signing a summit.e are here -- we are hearing mid-march, but some other folks have also said there's still some work to be done. ahead as we review the week on bloomberg best, much more on monetary policy and the longtime fed chair and bills deadly. next, another busy week for earnings reports with executives coming forward to swing the results. this is bloomberg. ♪ >> this is bloomberg best. is beginning to wind down, but there were still plenty of companies reporting this week. let's start a roundup with standard chartered. a three-yeard strategic plan. has unveiledtered a turnaround plan. they are aiming for $700 million in cost cuts by 2021. about next phase is not cost-cutting, it is about reshaping the operation for real growth and that has to do with leveraging our demonstrated core strengths with our global international network and it is impossible for someone to replicate. both of these areas are growing today. the objective is to continue to grow the good stuff and at the same time, continue

treasury secretary steven mnuchin will invoke special accounting measures until june to help pay governmentithout reaching the u.s. debt ceiling. it came back march 1 after being suspended by congress, but the treasury department can override that to prevent the default of payment. mnuchin has appealed to congress to increase the debt limit as soon as possible. the philippines has named a new central bank governor with the budget secretary succeeding the late secretary. finance chief carlos dominguez confirmed the appointment. he says his experience as a manager makes him the person to lead central-bank policy. diokno will serve the rest of the term which ends mid 2023. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm jessica summers. this is bloomberg. haidi: let's take a look at the aussie market. the rba decision day. sophie is in hong kong. sophie: aussie stocks are stepping a four-day decline with the asx 200 up a third of 1%. consumer discretionary shares leading the drop, along with materials players. the aussie dollar stu

steven mnuchin saying over one 150 pages are in this deal. we don't yet have a date for signing a summit. we are hearing mid-march, but some other folks have also said there's still some work to be done. taylor: still ahead as we review the week on "bloomberg best," much more on monetary policy and the longtime fed chair and bills bill dudley. up next, another busy week for earnings reports with executives coming forward to swing the results. this is bloomberg. ♪ taylor: this is "bloomberg best." i'm taylor riggs. earnings season is beginning to wind down, but there were still plenty of companies reporting this week. let's start with a roundup with of standard chartered. they announced a three-year strategic plan. standard chartered has unveiled a turnaround plan. they are aiming for $700 million in cost cuts by 2021. >> the next phase is not about cost-cutting, it is about reshaping the operation for real growth and that has to do with leveraging our demonstrated core strengths with our global international network that is unique and impossi

steven mnuchin called the talks constructive.osays he looks forward china's visit to washington next week. president trump optimism about the negotiations. he said we are getting very close. now hasgan chase china's approval to take a ajority ownership of securities joint venture. that makes it the first u.s. lender to receive such a nod from regulators. beijing last year lifted a ownership cap to help spark foreign investment. the bank'ss predict from chinese securities alone could reach $3.3 billion by 2030. it's the first such mandate from the vatican to candidate -- catholic officials. they will face possible jail time for failure to report any crimes. news 24 hours a day on air and at tictoc on twitter powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. >> president trump says the pressure hoax is dead after the filing of the mueller report. at a rally in michigan last night, he made his latest declaration but he has been completely vindicated from the pressure probe. >> they spi

lighthizer and steven mnuchin will go to china to meet liu he next week. today the ceos said they talked with the president and it eased some minds. >> it's quite clear he's very positive about the future. there was a lot of optimism in that meeting. reporter: the round table members employed 15 million people combined. the heads of american, apple, jpmorgan, mastercard and more. the members called on congress to ratify the usmca agreement saying they stand united in support of that trade agreement. liz: the president spoke with our own maria bartiromo saying he does want to work with democrats on infrastructure. maria: is there anything you see you would like to work with the democrats on? president trump: yes, i can work on a lot. the easiest thing is infrastructure. they want it, i want it. i spoke to nancy pelosi by the the other day. we agree on it. i think we even like the type of infrastructure we are talking about. maybe in a certain way more democrat from my standpoint than the republican concept. liz: interesting. be sure to telecast full intervi

treasury secretary steven mnuchin will visit china next week they're going to lead a trade delegation round of trade negotiations. a light saber sound. those will be the -- those will be the first face-to-face talks since president trump delayed a march 1st deadline and postponed a planned hike in the rate >> the fbi has joined the investigation into the certification process for boeing's 737 max jets following their involvement in two fatal crashes. the transportation department has already been looking into that process in the meantime, a senate panel has set march 27th as the date for a hearing on aviation safety officials from the faa, the transportation department, and the ntsb that will hear at that hearing. the subcommittee on aviation and space also wants to hold a future hearing where boeing and other aviation manufacturers would appear this news when it first came out yesterday, the niez about the fbi did put a little pressure on the stock, and this morning it looks like it is indicated down by $1.62 yesterday captain sully who landed the plane at the hudson came out and sai

stephen lighthizer, steven mnuchin heading to beijing was again this week as critical trade talks continuenews conference do shortly. in search a new deal of a chinese customer. we will come back to that in just a moment. macro strategist in london today joining us on set. it afternoon. think heg in paris, i is good to be meeting the german chancellor tomorrow. terms of how the relationship between europe and china is working at the moment, how much of that is characterized by what is going on between the u.s. and china with its trade talks ongoing. it cannot be an accident that china is going to europe and signing good deals. >> it is a good question. about the european and chinese relationship. it is clearly a strong relationship on the export side. there is also concern from europe on what chinese investment is doing. have a. would like to better trade deal with china. it does not need europe to help it. chinese side, they obviously do not want to be left by themselves with the u.s. and europe ganging up on china. they're are trying to find a middle path. what i think will happen this w

trade representative robert lighthizer and treasury secretary steven mnuchin arrived in beijing today for talks with chinese negotiators. republicans on the house intelligence committee are demanding chairman adam schiff resign. the california democrat says he still believes president trump's associates colluded with russia despite robert mueller's report that found no proof of that. in a letter, republicans say they have no faith in adam schiff's ability to do his job. adam schiff refused to step down. in venezuela, authorities will ration electricity to try to fix the nation shaky power grid. the country has been plagued by frequent blackouts, including one that begin monday in hit most of the country. president nicolas maduro blames a butyl terrorist attack -- a brutal terrorist attack by the government. critics believe it is due to poor maintenance. a fire broke out in a high-rise office building in the bangladesh capital. seven people died and dozens more were injured. firefighters were forced to shatter the buildings glass walls to free toxic gas. frequent in bangladesh because

here do we stand kevin: bob lighthizer and steven mnuchin are headed to china to continue trade talks. the president says that potentially he is going to keep in place some tariffs he had delayed as an enforcement mechanism for one the u.s. and china sign of a get to some type of arrangement. that is what's going on on the u.s.-china front. the president also spoke to fox business network about europe, saying he will keep tariffs in place a guest the auto front. they don't like those tariffs in the e.u. finally on the u.s.m.c.a., the president was at a roundtable here in washington, d.c. and they say they want to see [laughter]ss n.a 2.0, but it gets tricky in the house of representatives for -- see congress pass n.a.f.t.a. 2.0. jason: if i was producing your show this afternoon i would play a little tom petty, the waiting is the hardest part. it is a waiting game for mueller right now. what do you hear? kevin: everyone is waiting for mueller to drop. let's walk through what happens when bob mueller and his investigation team do complete the report. they would submitted to the departm

david: in the meantime, steven mnuchin is testifying before the house ways and means committee saying he will follow the law when it comes to disclosing the president stack record. he declined to comment on specific that actions. you can watch it for yourself on bloomberg live go. live from new york, this is bloomberg. ♪ >> this is balance of power on bloomberg television. a former texas congressman who gave ted cruz for his run -- a run for his money is raising his sites. better or or can announced he is running for president and did so in an unconventional style -- betoit will o'rourke -- announced he is running for president and did so in an unconventional style. >> this is the presidential campaign that seeks to bring out the best from everyone of us, that seeks to tonight -- unite a very divided country. we saw the power of this in texas. david: for more on the 2020, let's bring in joel benenson. and alex, who served as communication director during a presidential campaign. joel, do we need another -- positiveator candidate on the democratic side. >> i think beto o'rourke, after

steven mnuchin posting on twitter that the u.s.de reps and i concluded constructive trade talks in beijing. i look forward to welcoming the vice premier to washington next week. >> they have tabled text of a potential agreement and are looking at both sides to see if they match up. the u.s. apparently worried chinese officials are translating u.s. texts differently than they intended. there is still work to be done. the question is we do not know what is in it and how much progress it makes and if it is a face-saving compromise. or if there are actual deep structural reforms the u.s. has demanded that they need to wait until next week. >> when you talk to people, is there a sense investors have been sitting on their hands waiting for this to culminate before making a move one way or the other? >> very much. i think the question will be if trade is what pushes people to go back into the safety of the fixed income market into equities. we have seen a flight into safer assets this quarter. erdogan against markets. turkey's lira led de

steven mnuchin says that russia's continued aggression against ukraine cannot go unchecked. the sanctions were announced, a russian businessman said he is suing the treasury department, seeking a court order to have the sanctions lifted. the british prime minister is hoping to pull off an against the odds rescue of her european union divorce deal after the parliament voted to postpone brexit to avert a chaotic departure in two weeks. the prime minister plans to spend the next few days trying to persuade opponents in her conservative party to support the withdrawal agreement, which parliament has defeated twice. 20 people, mostly children, have been confirmed dead in a school collapse in nigeria. more than 40 people were pulled alive from the rubble after the wednesday instant -- incident. the building had been marked for demolition and the school was operating illegally, say witnesses. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm mark crumpton. this is bloomberg. guy: thank you v

kevin: the president in ohio will tout manufacturing on the news that treasury secretary steven mnuchin and u.s. trade representative bob lighthizer are headed back to china next week to continue u.s./china trade talks. meanwhile, across the state in lordstown, ohio, just outside of youngstown, a key balogh ground portion of the state, general motors -- a key battleground portion of the state, general motors continuing with plans to shut down a plant. i spoke with a local union leader there of the united auto workers association. they have been encouraging president trump to swing through lordstown, to talk to the folks who have been laid off by general motors and impacted by plant.osing down of the the president taking to twitter earlier this week, criticizing general motors and the union leader. meet the other 27 leaders and tries to get them to agree to her request to extend brexit to june 30. david: the extension depends in part on what happens during those 90 days, what will change. they say they will not change their position, but she cannot take the old deal back. who is going to

steven mnuchin saying over one -- over 150 pages in the steel.mportantly, we don't yet have a date for signing a summit. to doesident is keen something mid-march, but other folks in the administration, including the u.s. trade presented if, have also said there is still work to be done. taylor: still ahead as we review the week on bloomberg best, much more on monetary policy and the longtime fed chair and bills deadly. -- former new york fed chief bill deadly. and more reaction to the truncated summit in handling. up next, another busy week for earnings reports with executives coming forward to swing the -- to explain the results. >> we are well-positioned. taylor: this is bloomberg. ♪ taylor: this is bloomberg best. earnings season is beginning to wind down, but there were still plenty of companies reporting this week. let's start our roundup with standard chartered. the european bank announced results and released a new three-year strategic plan. standard chartered has unveiled a turnaround plan. they are aiming for $700 million in cost cuts by

telling reuters that china's ideas have gone further than in the past and treasury secretary steven mnuchin and robert lighthizer arrive in beijing today for two days of talks, aimed at ending the trade war between the world's two biggest economies. ashley: the united states is asking a chinese firm to sell off the majority stake in the dating app grinder. the main concern from national security officials says if asked, the company would have to share information about grinder's users with the chinese government and that information could be used to blackmail u.s. officials. another concern is that the a app's location data could be used to track down even more personal information about a user's comings and goings. lauren: president trump meeting with google's ceo at the white house to discuss the way google does business in china. the president tweeting this, just met with the president of google, who is obviously doing quite well. he stated strongly that he is totally committed to the u.s. military, not the chinese military. well, there meeting comes after general joe dunford said google

this comes as steven mnuchin and robert lighthizer travel to china for high level talks on the tradel with beijing, that is tomorrow. ashley: here are some other headlines making news this morning. prosecutors facing stiff backlash after dropping all charges against actor jussie smollett. chicago's mayor and police chief raising questions about why smollett wasn't held accountable for allegedly faking an attack on himself to gain attention for his acting career. prosecutors said smollett agreed to let them keep the bail and perform community service. an investigation into a death threat letter the actor supposedly received prior to the alleged attack has been handed over to the fbi. apple and qualcomm each claiming victories in their t patent licensing dispute. the u.s. international trade commission ruling that apple did not violate a battery saving patent held by qualcomm, evidence ebbineffectively overta judge's finding on that last september. in a separate patent case, another judge ruled against apple and recommended a limited ban on iphone imports. that recommendation is still