as long as you don't get muggedm switzerland! no one gets mugged in switzerland.s now is....jonathan charles, director of communications at the european bank for reconstruction and development. increasingly i am an and pay man. . it isa increasingly i am an and pay man. . it is a problem for people like me who keep losing their credit card. you probably miss lay your wallet. let's talk about more serious matters in turkey and the hunt continues, as reported in many papers, the independent quoting turkish officials saying this is a declaration of war. another headline i noticed, by patrick cockburn, turkey is not a battle they cannot win. certainly, you are aware that security is a much tighter but we all know that you cannot make security full proof and that is what we saw in this terrible new year's eve attack. a saying from the days of the ira, we have to get it right every time and they only have to get right ones. you cannot put a ring of steel around everywhere in istanbul and authorities know that so it is a very difficult time for turkey. when i was there t

this week, we're off to switzerland to find out what migrants need to learn in order to live and workhere. then in india, we meet a young woman giving a voice to the untouchables. but first, we head to japan, where women often lose their jobs when they get pregnant. japan has been ranked at position 101 on the global gender gap index, a study of the status of women in 145 different countries. this puts the highly-developed country far below the philippines, the u.s.a. and even kazakhstan. below japan are india, saudi arabia and last of all, yemen. whilst women make up 40% of the japanese workforce, they hold a mere 9% of all management positions. but change is in the air. the government wants large companies to increase the number of women in leadership positions to 15% by 2020. is this really doable? sayaka osakabe wanted a child and a career, something unusual in japanese society. she doesn't want to have to choose one over the other, unlike 2/3 of japanese women who give up their career aspirations with their first child. after a miscarriage, sayaka became pregnant again. but there

>>> good morning from davos, switzerland. happening now, chinese president xi jinping set to defend globalization before the world economic forum. >>> a developing story, the global market cautious as british prime minister theresa may prepared to lay out her brexit plans. the expected headline, no half in and half out deal. >>> and the trump effect. general motors set to invest a billion dollars and add 1,000 jobs in the u.s. following an attack by the president-elect. it's tuesday, january 17, 2017. "worldwide exchange" begins now. ♪ >>> good morning. welcome to a very special edition of "worldwide exchange." i'm sara eisen. >> i'm wilfred frost. we're coming live from the world economic forum in davos, switzerland. this week it's the annual gathering of the global political leaders, ceos, bankers and decisionmakers. as u.s. president-elect trump prepares to take office friday. >> among our guests this morning, we have the ceo of society generale here. and we have jacob frenkel. we will talk geopolitics with ken rogoff. ian

-- switzerland. let's go to morocco where a burqa band is causing quite a scandal. guest: since monday, morocco has band the sale and import of the burqa. they gave businesses 48 hours to get rid of their stocks. moroccan online website is talking about the war on the burqa. what is interesting is that there was no official announcement from the government, but a high-ranking interior minister official confirmed the van to this website, adding that bandits have repeatedly used the garment to perpetrate crimes. essentially it is for security reasons. if you want to know how people are reacting inside morocco, check out this. it has a very interesting look at the two sides of the coin. yet critics who are outraged, saying it is unconstitutional, but then there are defenders saying it is not a violation of constitutional rights and it's necessary for security concerns. host: you have reaction to barack obama's farewell speech in chicago. guest: "america will miss barack obama's decency." the article say

we're coming to you from the world economic forum in davos, switzerland.he annual gathering of global political leaders, ceos and policymakers. yes, it is chilly, but a fantastic setting. >> a fantastic setting and a lot of news. our guests this morning include jim coulter, he will join us in a few moments. at 5:15, princeton university president christopher eisgruber will be here to join us. at 5:30, stephen pagliuca stops by. and a wide ranging conversation on the economy with nourie nouriel roubini. another busy morning ahead on "worldwide exchange." a lot of headlines to discuss. here's the cover of the china daily. president xi here at the world economic forum getting a lot of attention, not just in davos, switzerland, around the world. here is his home, boost open economies, a defender of globalism. this is the front and center debate. >> huge is. huge coverage, huge headlines coming from him. big moves in the pound yesterday. we will be talking about that as well. >> best move for the pound since 1998. how do you like that for a back drop for a worl

at the moment, last year in switzerland, there was another case similarto switzerland, there was another daughter to swim in school. there is a trend emerging it seems. in terms of switzerland's approach to these issues, is it different to how the uk government might approach it? or the french comment? the european court of human rights today have said that the swiss authorities have the right to dictate their academic setup. whether that dictates their educational setup, the lessons, is based on the values and that is doubly something which is different to the british setup. is this ruling releva nt to to the british setup. is this ruling relevant to faith schools? in the uk, faith schools take a certain approach that some state schools, other state schools don't. are there comparisons elsewhere in europe? potentially. this is why state rulings are interesting because it is dictating for the first time the significance of things like mixed faith interaction. today bosman ruling was interesting because it is not just about these two girls learning how to swim, the european court said it

♪ vonnie: from washington dc to devils, switzerland. s switzerland.rik schatzker is standing by with top headlines. erik: we will begin with this. what does brags it really mean? saysh stuart gulliver investment bankers and up in paris. he praised theresa may's handling of the uk's exit. populism scares me. daliaare the words of ray as he predicted the potential end of globalization. christine lagarde says the solution is greater wealth distribution. over davos.dow themarket has discounted positives and of the negatives of trump toss collection. -- trump's election. vonnie: looking forward to a lot of that coverage all day. in the u.s. we are about 30 minutes into the trading session. --sa: next trading action abigail: mixed trading action. the dow opened lower. the week is relatively young but the dow was on pace for its second weekly decline. a little bit of a bearish trend that as you can see both the s&p 500 and the nasdaq are trading slightly higher fluctuating between small gains and losses. we are seeing a continuation of the lack of conviction

a second match for switzerland. it was another chance to get a glimpse of the superstar. federer playing his part in another swiss success in the mixed doubles, and so the returning champion is backin and so the returning champion is back in the groove. plenty of british players in action around the world today. in china, johanna konta is through to round two of the shenzhen 0pen after beating turkey's chila buyucachyay in straight sets. the british number1 won 6—2, 6—0 in china in what was herfirst match since her split with former coach esteban carril last month. konta starts the year ranked number 10 in the world. and a good start for british number two kyle edmund at the brisbane international too. he's through to the second round after a straight set win over ernesto escobedo. that's all from sportsday. there'll be more sport here on bbc news throughout the evening. it's been a largely clear and dry day, that means we are in for a cold night tonight. temperatures are going to plummet, particularly across centra

we're coming to you from the world economic forum in davos, switzerland.ve been here all week. this is the final day. great week it's been. >> great week. >> final day. >> final day of an amazing week. everyone today is talking about trump. they've been talking about it all week what we can expect from the policies of the administration and the markets, a rally of more than 6% in the markets since the election. does it continue? >> let's look at the futures this hour. they were slightly positive a half hour ago it comes off the back of the dow declining for the fifth session in a row. the dow down 0.4% yesterday. it's down almost 1% for the week. it is set for the second negative week in a row. third negative week in four. this morning we are called higher by 22 points on the dow. the s&p and nasdaq also slightly higher. european trade has been flat for the most part yesterday, but we are looking at 1% of declines for the broader stoxx 600 in europe. the ftse 100 down 2% for the week. the pound rebounded strongly. asian trade was mixed. hong kong down, jap

business leaders gathered in switzerland were watching the prime ministerfor exactly that.arity, first of all. really codify in what many of us are expecting around the result, particularly around the result, particularly around the result, particularly around the single market. we are also seeing the government's willingness to put a bit of edge into the negotiating dynamic. that makes a lot of sense. trade negotiations are negotiations and you have to be pretty tough to get what you want. for some, the uncertainty is still too great. in london, the insurance market has already decided to move some business to europe. we still have to pursue a subsidiary in the eu for post— brexit world, meaning that we can still serve our customers and policyholders in those european union countries. so no ifs, no buts, no single market. clarity, yes. desired outcome, not for everyone. and with the continued argument over whether we are a partial member of the customs union, many companies will say it takes a continent to build a carand will say it takes a continent to build a car and if

the china daily leads on the visit to switzerland by the chinese president, xijinping. upgrade their free trade agreement. the picture shows president xi with the swiss president, doris leuthard. and the south china morning post leads on the battle to be the next leader of hong kong. the paper says carrie lam is considered to be beijing's preferred choice for chief executive, but she's expected to be competing against john tsang, who has yet to declare his candidacy. the football authorities in china have ruled that only three foreign players will be allowed to take part in any match in the country's super league next season. chinese clubs have been spending millions on overseas players such as oscar and carlos tevez, while rumours continue to swirl around the likes of diego costa. chris mitchell is in the bbc‘s sport centre with the latest. the last transfer window last year, when the chinese super league came to all of our attentions, they spend something in the realm of $300 million on players then, and the spinning in this transfer window, the league starting march,

it may get better over time, but for the moment switzerland is the place to go to. you market? you don't have a marketing or pr team. it is a lot easier than it was five or ten years ago, with social media? exactly. in the summer last year before i launched, i had several months of building up interest just launched, i had several months of building up interestjust using instagram, twitter, facebook, using photographs, things from the heritage and the archives, and starting to generate a buzz around it. i had never used instagram until june, so it was all new to me, but once you get going, it is exciting and creative, and you are getting interest from people. fears used to export to 95 countries. today i already have watches on almost every continent. that is largely because on social media you can put out a tweet or photo and somebody in tokyo can look at it and get in contact with you straightaway, there is no delay. to use a terrible cliche, time will tell! a fascinating story. in a moment we'll take a look through the business pages. but first, here's a quick re

when when his sons were little he get a matchbox and string and he would make these in switzerland. he'd make cable cars for the kids. does so yes is wonderful box einstein is smiling as can be the next morning -- who is smart said einstein, when that that box has a little bit of glycol and i said yes the box if you way it goes up a little. ways just a little bit less. and einstein realized the problem. it turns out by einstein's relativity time is a little bit not the same as air pressure. but think of air pressure. when you're on the surface of the earth the heirs quite tense. as you go higher up it's even thinner. it turns out for various reasons time worked on a certain speed. if you go higher changes that even more. so as it moves up there's a certain uncertainty so you're at a different point in the field. einstein's theory of relativity made his ideal not work. he has the good grace to say okay, in this case you're right. that was the last time einstein tried to fight back. but in in his heart he knew he was right. in his heart he was convinced he was right. if you ever argue

in second place was switzerland's credit suisse, at $5.3 billion, followed by american investment bank goldman sachs, at $4.9 billion. after the settlement with deutsche bank has one less problem to deal with. the $40 billion penalty originally planned would have made deutsche bank rely on government aid, which would have also caused the collapse in deutsche bank stock prices. >> tend to bring you up-to-date with the latest on the economic forum in davos, switzerland. helena humphrey is standing by for us. we know that the forum is about ideas, concepts, and in the end, economic growth. what are the proposals so far to make economic growth happened for the world? helena: it is day two of the economic forum. time to get down to some nitty-gritty and come up with solutions to global economic growth and how sluggish it has been at around 3% for the past few years. imf chief christine lagarde says that further monetary policy was needed. that will be a bitter pill to swallow for ecb head mario draghi, who has used everything in his arsenal to boost weak inflation. she also said it was time

the report tonight from davos, switzerland. >> i'm at the world economic forum in switzerland where the top issues are globalization, china, after president xi's historic visit. of course the rise of populism and donald trump. top ceos like at&t and bank of america are here along with activists matt damon all weighing in on the issues. >> we've all consistently said, you fix this regulatory environment and you get tax reform. that's the catalyst for higher growth. so president trump comes in. what is he talking about? tax reform. >> you have china quoting great american president. then we had lunch with him and he is very much concerned that he'll be, the ability for trade to then world grow. the imbalance in the economy and stuff. that's the fear out there. i think we have to let it play out for a while. >> every 90 seconds a child tunneled age of 5 is dying because they lack clean water and sanitation. it is also the outcomes you can expect. if you're scavenging for water, you're not in school which is a huge problem for girls. if they don't to have scavenge for water and they're in s

switzerland is the home of the worlds highest paid expatriates.se living in switzerland earn an average 180,000 dollars per year, almost twice the global average, most of the expatriate say their work-life balance has improved. that is the latest bloomberg business flash. 2017,he first one of starting the year with a battle over natural gas prices, and the chinese yuan, i have my judges, this is bloomberg. ♪ mark: time for the global battle of the chart, the most telling chart of the day, what they mean for investors, accident on the bloomberg by running the function at the bottom of your screen. starting things off in 4017, a huge honor, taylor riggs -- for 2017, a huge honor, taylor riggs. -- natural gas prices, oil has which lower, natural gas prices down over 10% this morning, you will see that in the white bar, the biggest one-day change. this morning when i came in around 5:00 a.m., down 6.5%, the biggest one-day drop since july and out way surpassed that, down the biggest drop for one day in one year. what are the factors? the supply and de

we're live from the world economic forum in davos, switzerland.'m becky quick along with joe kernen and andrew ross sorkin. we have a mega lineup of guests. joe mentioned randall stevenson. we'll talk with arnie sorenson, brian moynihan, david cody, marc benioff, matt damon and many, many more guests. before we jump into that, let's check the markets and see what's been happening. the dow has been moving further away from that 20,000 point level. u.s. equity futures are under pressure. right now the dow is down by 62 points. s&p 500 futures look like they would open down by nine points. the nazaresdaq down by 21. in asia, the nikkei kwas down. we saw positive moves in shanghai and the hang seng. things are lightly weaker for europe. the dax is down about 0.9%. if you look at the crude oil markets, you'll see in the natural gas, natural gas has been a bit higher. right now up by 1.5%. wti also up by 1.4%. a andrew? >> british prime minister theresa may will deliver a speak later this morning outlying 12 priorities for upcoming brexit talks with the

in the traditional world, you may look at switzerland. in api year on year. you have got yellen another fed speakers as well. >> investors got their fingers a little bit burned, to find they cannot get the message they really wanted to hear about fiscal stimulus and tax cuts. will investors put on long dollar friday? i suspect they might. we may see equity markets trading lower and dollar-yen coming back a little bit. perhapsprise quotient, investors will wait until we get some degree of policy platform rather than wait. mark: talk about some crosses. euro-dollar., case where we a could see an impact. it will be fascinating to see the canadian central-bank haveify shifts and yields been overblown in terms of economic is vicious. it might's -- provides some support. mark: good to see you. thanks so much. coming up, u.s. president-elect donald trump already embroiled and war of words with china mexico has come out swinging against the eu and nato interviews. more coming up. this is bloomberg. ♪ mark: this is bloomberg markets. donald trump

davos takes center stage as leaders around the globe gather at the world economic forum in switzerland. deal.r some m&a action this monday. the ray-banbuy maker. chairs jumping on the news. a warm welcome to "bloomberg markets," for this special edition today. 12:00 noon in london. that is where we find mark barton, pouring of the details of the day's equity trading session in europe. mark: great to see you, too. resources up by a quarter of 1%. the only gaming industry group today, the gauge to the stoxx majors.y are low on the

we are covering stories from davos, switzerland and tokyo this hour. elected donald trump says the currency is too strong, the pound rallies as theresa may outlines her plan for brexit. bloomberg white banks need options to deal with brexit. that's why banks need options to deal with brexit. we are halfway into the trading day. abigail: we are looking at declines for the u.s. averages. have the dow, s&p 500 and nasdaq all off of their lows. nevertheless, there is a sense of uncertainty here as the nasdaq is off of its record highs. the dow and s&p 500 lower. the big drag todafr

david: bloomberg's live in dallas, switzerland.zker will be bringing us all of the headlines. erik: good morning, david. china is stealing the spotlight in davos. president xi jinping used his first address to defend the global economic order and to take a backhanded swipe at president elect donald trump. xi said no one is a winner in a trade war. the president-elect is making news, even though he is not here. they said they will push through infrastructure spending, a tax overhaul, and growth that benefits a wider swath of load --then the global global elites that benefited. , and how the sweeping impact will transform the economy on the banking industry. >> we need to replace a lot of people who are actually performing functions of the computer. the mantra is to stop people from using the hands and eyes, but to use their brains. we are still the. people add more values when we get computers to automate what we hope will be much more standardized business. that is theerik: latest from davos. jonathan: you were up there without a c

i must say that this piece of news of the chinese president coming for a state visit to switzerland, is what he is doing, he appears tomorrow at the world economic forum which is a positive because i cannot think of a single piece of legislation that has emanated since 1971 at the world economic forum. i consider it a disgrace, a waste of money. £22,000 for each delegate, thatis money. £22,000 for each delegate, that is a waste of taxpayer money and a waste of government money. many years ago, you say began in the 70s. there were world leaders there regularly decades ago. it has not been like that for some time. does this give it a boost? it does. my problem is that if you could actually save that people have done anything apart from backslapping and sharing a glass of champagne, if something constructive had come out of it that had benefited the economy of it that had benefited the economy of the world, i would be all for it. when you have something that size... there is a discussion and networking that may lead to deal may lead to more which employment and growth... life is half ou

ex-patare going to be an , make it switzerland.t of more than 188 house in dollars, highest in $188,000 -- more than highest in the world and twice that of the global rate. but switzerland is close to last in social life and developing relationships. the cost of living is notoriously high. guy: that is an understatement. deutsche bank. deutsche bank is down pretty hard in frankfurt this morning. i do not know if i can tie a line between that story and our next story which is that the --mer deutsche bank cosio co-ceo is joining the cantor fitzgerald firm. he left deutsche bank in 2015. michael moore from our finance team joins us now with more. a couple of quick questions. this is an odd gig for him to take, isn't it? michael: it does not follow the usual playbook of a bank ceo. typically we see them go into government or to do something on ventureside like capital or the philanthropic side. but, clearly he felt he still had something to do on the cell this is in hisd wheelhouse, the trading business. sidethis is a firmly sale job.

norway, iceland, liechtenstein and switzerland are partial members.ey get rid of barriers to trade and allow goods, services, money and workers to move freely across their borders, then their economies will grow. to make this happen, they agree common trading rules, so a widget made in greece is the same as a widget made in spain. and they set up a european court ofjustice to make sure everybody follows the rules. supporters say the single market helps british companies flourish, like this engineering firm in bristol by making it easierfor them to export their goods and employ people from across the eu. i think there's an obvious risk for us outside of the single market, we increasingly trade with europe. i think any change in the customs regime is probably going to make us uncompetitive. but opponents say the single market imposes unnecessary red tape on british firms, like this nappy manufacturer in northampton. it gives too much power to eu judges and allows in too many migrant workers. the owner of this firm says the opportunities outside are grea

xijinping forum's annual meeting kicks off in switzerland.will be the first president to attend the summit from his country and this year's gathering in the alpine resort of davos focuses on how leaders should respond to growing populism and protectionism. tanya beckett has more. there is a chill wind in davos this year and there is a chill wind in davos this yearandi there is a chill wind in davos this yearand i am there is a chill wind in davos this year and i am notjust talking about extremely low temperatures and piles of snow. the political backdrop is also pretty unforgiving. top names from the worlds of business and politics are meeting here to cut deals at a time when a backlash against globalisation and elitism is only gathering pace. the forum's founder says social inequality will not be reduced by raising barriers. i hope that all countries will favour "all systems —— open global systems, but i think we will have as a whole, as a world, as a whole, we will have a big setback if we go back to the old times of big walls around our na

in 1905-1906 things were different in switzerland.it was assumed the woman takes care of the child. einstein was really friendly, he would make cable cars for his kids, play the violin. >> host: get down on the carpet with toddlers. >> guest: he was hands-on but in a sort of way that a man gets huge credit, he played with a child for three hours are better. the rest of the week - he was good. but she has to do all the stuff. she had been an okay student. einstein was a d plus student and she was solid c plus student. she wasn't great but the do theoretical physics but she to have time to follow up. she had to change the diapers, take care of the two kids, they had a girl they gave up for adoption. after a wild people would come to the house to talk to both of them but after a while she was so busy they would come in and you have a conversation with kids crying, take care of the kids and come back, after a wild she stopped coming in. their oldest friends, 18, 19, 20, with them she would be connected and fun and full of life but to see

, there is fixed as assistant switzerland. it's harder to stand out. the thing is you never know and that's what makes it exciting. it could be somebody in this room. there could be a 10-year-old in china or malaysia or south africa. we have no idea who might come in with a fresh angle, look here. nobody thought of clicking here. >> he told me before you started a number of people -- what did you learn from them? would you find that you haven't done before? >> again when i was young, he was sold. she was the first person to come up with the notion of black holes. we think of the great sage and see your. it was just a little pleasantness on top. i'll give an example. when he was a little boy, a little sister and he was upset and he took a bowling ball and threw it at her. she wrote, it takes a thick skull. that sense of humor to step back and tease that's going on. you flick a ball bearing along were planted along. it's going to go in straight lines. he could imagine and say i could think how could two parallel people converge.

so, let's go live to switzerland now for some reaction. sheard is global chief economist at s&p global. it is great to have you on the programme. lots to talk about. can we start with this whole thing about reversing globalisation and bringing jobs back to america apparently 5 million have been lost from the us since 2000. most of the reason is technology, not because they have been outsourced across the world. technology, not because they have been outsourced across the worldm is great to be here. it is difficult to untangle the effects of technology and liberalisation. there are probably elements of both. —— globalisation. most economists probably think that comparative advantage is driving it more than anything else. as you indicated, there is a sense of a shift in the atmospherics and the policies coming out of the world's largest economy. are people in your game bracing ourselves for a possible trade war? that is on everyone‘s radar screen, but people are not expecting him to go in that direction. trade war, protectionism, the 1930s a

julie: we take you from washington to davos, switzerland. any cover stories from washington to china. mark: let's look at what is happening in european equities. two words -- theresa may. european stocks little changed. down by roughly one 20th over the financial services utilities. let's show off the wcrs function. this is sterling. currency in major the world is declining against the pound. theresa may, u.k. prime minister, said mp's would get a final vote on the brexit deal. she pledged to pull britain out of the european single market. she said staying in parts of the customs unit is preferred. she aims to avoid a cliff edge. she wants transitional arrangements for financial services and no more huge contributions to the e.u. budget. we are leaving the e.u., not europe, she said. what a day to use our wonderful wcrs function. the big mover i want to talk about -- sterling-dollar. biggest intraday move for the pad against the dollar since 2008. shows the one-day percentage moves. we have risen as much as 2.5%. the biggest move since 2000.

some of britain's most prominent business leaders are at world economic forum in davos in switzerlandorrespondent simonjack has been talking to some of them. there's nothing like a bit of mountain air to give you clarity. business leaders gathered here in switzerland were watching the prime minister today for exactly that. so did they get it? i think what we learned from the prime minister's speech today was clarity, first of all, really codified what many of us had been anticipating since the referendum result, particularly around the single market. i think what we've also seen today is the government's willingness to put a bit of edge into the negotiating dynamic, and i think that makes a lot of sense. trade negotiations are negotiations, and you have to lay out and you have to be pretty tough to get what you want. for some, the uncertainty is still too great. lloyd's of london, the insurance market, has a ready decided to move some business to europe. —— has already. we've still got to pursue a subsidiary in the eu for post—brexit world, meaning that we can still serve our customer

a second match for switzerland. that made the day‘s final meeting a formality. with a winning figure. that is good to see him back. i will have an extended bulletin at 5:30pm. thank you. the first 1a areas in england to be selected for so—called "garden villages" have been announced, in a bid to create tens of thousands of new homes. the new villages must include green spaces and good transport links. the government says that the plans will help provide vital homes. but rural campaigners have warned there is still strong opposition to some of the projects. our correspondent daniela relph has been to longcross in surrey — one of the proposed locations. well, over the next couple of years, the idea is that this area here in longcross in surrey, close to the m25, will be transformed into one of these 1a garden villages. now, a garden village would have anything between 1500 and 10,000 new affordable homes. it would also have access to funds to develop green spaces and improve transport links. the locations announced by the government today, across england, scattere

, there are about 6 physicist in switzerland now there's hundreds or tens of hundred of thousands around the world harder to stand out. but the thing is, you never know and that's what makes it exciting. there could be -- somebody in this room. there could be -- a ten-year-old in china or malaysia or south africa. we have no idea who might come in with the fresh angle l, go into that library. take a book off the shelf and say nobody thought of looking here. >> yeah. >> you told me before we started that you'd spoken to a number of people who knew einstein personally. what did you learn from them and find out that you hadn't known before? >> one of they will them was sandra carr again when i was young he was old, one of the men who taught me in chicago he was first person to come up with the black hole. one of the things that came out was how funny einstein was. we think of a great stage, beard look that -- think of something with a german sense of hiewrl but that helped him when he was -- i'll give an example when he was a little boy about 7 -- he had a little sister named maja he was up

. >>> ladies and gentlemen, welcome aboard this upcoming flight to switzerland. please take your seats and prepare for takeoff. >> steven anderson and hid buddies leaping off the bases in switzerland. we've sign this valley so many times and every time it's always thrills. come on, proximity flying at its best. >> we've never seen it so hairy though. i don't think i've seen a beard of that magnitude in a video. >> what you're seeing is that's great way to steer. create extra drag so you can move the beard left and right and you know it will give you extra precision. wow, that was close >> much like a cat who uses his whiskers to figure out where it's going sometimes, he does the same thing. it's his whiskers touch as branch he knows he's too close. same concept. >> come on, mate, look at that, man. whoever the bed and breakfast owners are in this small swiss town they must make bank of these guys. it's incredible. >> it's so pretty. >>> i think you can chalk up the two videos to just bad luck. >> the woman in bulgaria at a restaurant ordering food. as they're the

he spoke from us in denver, switzerland. , switzerland. >> instability in europe, a wildcard, it shouldt year for news. when we think about the new business, raw materials we make money out of, it will be plenty to run. caroline: thompson went on to say they have not given final numbers for the last quarter, to numbersbscribed they have never seen before. companies worldwide are trying to prove u.s. job creation to president-elect trump. now they are seeing repercussions at home. one is foxconn the largest they are trying to assure china they will not pull capital out of the country. they have about one million workers in china. the interest of potential u.s. expansion after the ceo wanted to invest $50 billion in the u.s. to create 50 billion jobs. we are lucky to have this man right here in san francisco. you just put out a story about this. how much did foxconn promise? >> not at all. this is the funny thing about it. were heook at the words met with donald trump, they never promised to invest any more money in the u.s. they merely said they will look into it, and they are looking at

we're live in davos, switzerland. big stories are front and center for us this morning. the federal reserve is out with its beige book later today. the region-by-region assessment of the economy comes out at 2:00 p.m. eastern time and comes less than two weeks before the next meeting of fed policymakers. fed chair janet yellen will talk about monetary policy today in an appearance in san francisco. that begins at 3:00 p.m. eastern time, 12:00 noon pacific. she'll take questions from the audience right after her speech. of course, we'll bring you that news as it comes. >>> also, more homeowners moved to refinance their mortgages last week. the mortgage banker's association saying refinancing applications rose 6.8%, even as new purchase applications were declining by 5.2%. the average 30-year mortgage rate fell by five basis points during the week to 4.27%. >>> some news just in involving j.pmorgan chase. the u.s. has filed a complaint against the bank, saying they charged certain minority groups higher mortgage rates.

world economic forum in switzerland, survey says business leaders are optimistic about 2017. at least 37 people have been killed by a turkish airlines cargo plane that crashed near kyrgyzstan's main airport. after a short break, i will be back to take you through the day. qéaú a gripping our top stories this hour. we europeans have our faith in our hands, a response by chancellor angela merkel. in france, the hard left candidate following a second live television debate. and oxfam's grotesque that the eight worlds richest people have as much wealth as the poorest half of the world. critical point in the fact that co

world economic forum in switzerland, survey says business leaders are optimistic about 2017. at least 37 people have been killed by a turkish airlines cargo plane that crashed near kyrgyzstan's main airport. after a short break, i will be back to take you through the day. ♪ [theme music] ♪ [theme music] >>>ernabel demillo: hi, i'm ernabel demillo, welcome to asian american life. we're coming to you from the queens botanical garden in the heart of flushing, queens, the most ethnically diverse county in the country. the garden is a 39 acre urban oasis celebrating the people, plants and cultures of the diverse borough it serves. be sure to stop by the recently renovated herb garden,

coming up, more from the world economic forum in davos, switzerland.e state of global banking is next. this is bloomberg. ♪ alix: this is "bloomberg daybreak." let's go back to erik schatzker with another big guest. erik: the hits just keep on coming. is the founder of a london-based hedge fund specializing in financials. we have to talk about goldman sachs, morgan stanley. this morning.ed you have been a big-time fan of morgan stanley. why is goldman still so much more profitable? it is 2017. the crisis is ancient history. goldman sachs is so much more profitable than morgan stanley. in the fourth quarter, 11.4% r.o.e. davide: it is called interest rates. goldman sachs basically has been a massive beneficiary out of the quantum -- quantitative easing program. people have been buying bonds for the last four years as rates one from 12% to numeral -1%. as the head of one of the highest market shares, it could have benefited. morgan stanley, the time, interest rates will normalize in america to around 2% or 3% normally and will make on return. they have $

"worldwide exchange" at the world economic forum in davos, switzerland.e there with a great lineup of guests. >> it's going to be a great week. we look forward to that and to "squawk box" this morning, which is next. i am the future. i provide for my family. i will use my education to help my community. i will inspire our next generation of leaders. i am a college student, but i am only 1%. only 1% of college students are american indian. donate now, and help our numbers grow. ♪ >>> good morning. earnings alert. blackrock and bank of america set to report this hour, we'll get numbers from jpmorgan and wells fargo later in the show. >>> and the final countdown just one week to go until donald trump takes office. the latest from the transition, and nintendo shares are plummeting after the company unveiled its new console. we'll tell you what disappointed investors. it is friday the 13th. "squawk box" begins right now. >>> live from new york where business never sleeps, this is "squawk box." >> good morning. welcome to "squawk box" on cnbc, live from the nas

vonnie: that was jamie dimon of from dolls, switzerland -- dav os, switzerland.nt is king fortune. a look here. i think the senate commerce committee, wilbur ross, the confirmation hearing on going right now. questions about nafta and other trade desperate president-elect donald trump said he plans to give the commerce secretary more power over negotiating those deals. ross said all aspects will be put on the table. the three others on capitol hill through the afternoon. this is bloomberg. ♪ >> infrastructure has include broadband deployment and the underserved and unserved areas. since you have -- david: this is "bloomberg markets." i am david gura. vonnie: i am vonnie quinn. some of the biggest business stories in the news. deutsche bank told some employees that job cuts will go on after bonuses were slashes, according to a person with knowledge. they are planning to eliminate 9000 jobs globally through 2018. 9% reduction across the firm. andit suisse and the u.s. justice department finalize the $5.3 trillion agreement to settle a probe into the bank's sales be

holiday, but overseas in davos, switzerland the world's wealt wealthiest business people are gatheringor the economic forum. topic number one as you can expect is donald trump. karen show is here with a preview. good morning, karen. >> good morning, ayman. good morning gigi. donald trump is not attending davos and not sending a team but he will still dominate the agenda as the elite in davos will consider what his presidency means for global trade, growth and security as well as the rise of populism that's led to the trump vote and brex brexit. the british prime minister theresa may will outline her blueprint for brexit tomorrow and fly to davos to explain more. the other big thing is that the chinese president will open the initial ceremony with a speech in defense of free trade and don't forget trump has pledged to label chinese currency manipulator and slap tariffs on chinese exports. the other big ticket item, of course, has been donald trump's comments over the weekend, calling out germany for its immigration policy saying that german chancellor angela merkel made a catastrophic m

zoe about theto arbitrage in switzerland of france, tons of meat in france and bring it to switzerlandmic. when we look at the donald trump have anyy, do you evidence that the president-elect understands the hisomic system arbitrageurs politics? george: no. seeing it will be believing. we will find out in fairly short order whether the president and his team -- i'm not going to take potshots at the nominees that he has in line for treasury secretary and commerce and so on and so forth. there is a sporting chance that we have to be open-minded about this, some of the proposals which they may put forward in the economic sphere may have some beneficial effects to the united states. i'm not sure from a global perspective i would say that. we will have to wait and see. it doesn't look that great read we can keep an open mind. tomorrow, tom keene and francine from dallas. that all caps off from 6:00 in new york. this is bloomberg. ♪ guy: guy johnson in london, tom keene in zurich. down the mountain, about to go up the mountain to davos. here's sebastian salek. donald trump is firing back at

for more from davos, switzerland, we cross over to erik schatzker.es not get much more special in davos than it does with michael dell. michael: good to see you. erik: dell relies on open borders. are you changing your assumption for trade flows and business conditions with donald trump taking office as president tomorrow? michael: we are listening to understand what the new rules are going to be. obviously, we optimize our business based on whatever the rules are. as things move around and change, whether in the u.s. or around the world, we will make adjustments. what we see is a new administration that is talking about growth and talking about infrastructure spending, tax things --d repatriation and things that are progrowth. we like that. erik: do you have a lot of capital stashed overseas? michael: we have about half our business outside the u.s., so certainly, there are profits in those businesses. billion every year in r&d. that is in the united states. we will certainly understand what the new rules are and figure out how we continue to grow o

that was samira asgari, talking to me from lausanne in switzerland.use of her nationality. she should have been working at a hospital in boston helping to work on infectious diseases. the backlash against the executive order introduced by president trump is continuing this country with a petition that argues that the president should not be allowed to make a state visit. you can see that the number of people registering their support is going up registering their support is going up as we speak. the statement on the petition says that president trump should be prevented from making a state visit. laura trevelyan has been atjfk airport in new york state. there, she spoke to a democrat congressman who has been supporting relatives of those who have been detained. we believe that as of earlier today, there were a total of 13. two individuals were released this morning, then four released this afternoon, and most recently, a 78—year—old gentleman who had been detained since 8am yesterday was released. we believe there are six additional individuals who ar

switzerland joining other parts of the euro area. andctations of u.s.h monetary policy help pulling the world back from the deflationary break. reporter joinsx us now. dan, we have talked about this. it is the existential question that will define 2017. is this the real deal? have we shifted from deflation to inflation? >> i will take the middle part. your graphic on the swiss franc was very telling. it is showing the abatement of possibly the end of deflationary forces. it is not showing a search in inflation. we don't seem to be going back to a situation where inflation is a problem. some of the sizes and scopes on these monthly moves obscured the fact that they are no longer negative. scarlet: the last time switzerland saw a real inflation was back in 1990 when it was at 60 -- at 6%. this is obviously a key debate for currency traders because they are so sensitive to rates of central banks. how are the currency market so far this year reading these inflationary forces? >> that is an interesting question. for the longest time, the u.s. was one of the

to be a nexting patriot, make it switzerland. lauren workers there are in the annual equivalent of more than $188,000. the highest in the world and twice the global average. however, previous data released by hsbc says they are close to last in social life and cultivating relationships. global news 24 hours a day powered by our 2600 journalists and analysts in more than 120 countries. you can find more stories on the bloomberg at top . this is bloomberg. markets, what do they hold for 2017? does juliette saly have her crystal all out? inity markets seem to be moderately positive form. happy new year. >> my crystal all is at the workshop at the moment but suddenly we seem to have a positive start for the first major trading day of 2017. private manufacturing coming through at of china that showing once again some more robust signs in terms of that economy. the shanghai composite in late good up by 0.9% doing a boost to most of the markets in asia that are open today. japan is still closed celebrating new year and new zealand w