here's taylor riggs. taylor: u.k.secretary david davis dismissed reports that prime minister theresa may is said to prefer paying as much as 50 billion pounds to leave the european union. the economic affairs commissioner, pierre moscovici, left open the possibility brexit talks may fail after october. >> we must start by resolving the issues that are on the table. then we will think about our future relationship. it is no secret that we think we need to have a very strong relationship with the u.k. taylor: theresa may will use a speech later this month to try to force brexit negotiation. there is aplain how deep and special partnership and make the case for continuous talks in an attempt to tilt the directions of trade. this comes as a crucial meeting looms. prime minister theresa may's flagship legislation was debated in parliament for the first time this week. the plans aimed to ensure that all e.u. law is copied and pasted into british legislation before brexit takes place. the labour party said it would try to am

i am taylor riggs. this is bloomberg. francine, tom? uities, bonds, currencies, commodities, before we get to mr.'s i kevin cirilli. higherth the reset of a yield come onto the next screen, 9.979.. the dollar weaker. franc is key, francine. francine: it certainly is key. safe havens include gold come and i wouldd, yen, like to point you to the euro. that seems to be gaining sentiment for germans head to the polls on sunday, tom. tom: very good. most interesting weekend not only in washington but also investmen in bedminsted north korea. is really joins us. we have -- kevin cirilli joins us. we have a lot to talk about. what will our generals counseling president this weekend? kevin: first, the president trying to use the united nations -- a good day for u.n. ambassador nikki haley on the issue of north korea, maybe not so much on the issue of iran. clearly getting some kind of agreement with the chinese. maya president xi jinping not have been in the meeting yesterday at the united nations with the u.s., japan, and south korea, but clear

first word news, here is taylor riggs. the death toll has risen to 39 from tropical storm harvey. they say floodwaters are expected to be gone from most of houston by early tomorrow. firefighters still monitoring a chemical plant after an explosion and fire. authorities warn there could be more explosions. president trump may use the disaster in texas to lower the risk of an unprecedented default. the president may attach an increase in the debt limit to the first $6 billion in disaster aid request. congress house wants to extend the debt limit until funding for the next year. the third round of talks for brexit has ended in acrimony. >> i think the prime minister and her cabinet have got to raise their game. i have been saying for a while they have to make sure they negotiate in good terms with the eu. taylor: the sticking point is money. the eu says britain should pay for money the block made assumptions that it would remain a member. the kenyan court upheld the opposition complete that the winner of last month's election

cutest taylor riggs. -- here is taylor riggs. islands bracing for a hurricane. it has caused widespread damage to the island. the hurricane is now headed for the u.s. and revision virgin islands and puerto rico. a court order authorized u.s. wiretaph investigators to trump campaign manager before and after the election according to cnn. there were concerns that metaphor encouraged russian involvement in the election. "the new york times" said prosecutors have told manna for he will be indicted. tor john mccain may be the last gasp in the fight against obamacare. it may be subject to a filibuster. the trump wit administration withithdrawn a deal turkey's erdogan of weapons. this was after an incident in washington last may. turkish officers were indicted for attacking protesters during erdogan's visit. global news 24 hours a day powered by 2700 journalists and analysts in more than 120 countries. i'm taylor riggs. this is bloomberg. the japanese prime minister said he will decide on calling a snap election after he returns from his

here is taylor riggs. s way up florida's western coast. it has been downgraded to category 1. it is now northeast of tampa. and battered south florida left an unknown amount of destruction. almost 5 million people are without power. there was severe damage in the florida keys, which were pounded by 130 mile-per-hour winds. damageses for total from $200 billion to less than a quarter of that. authorities say earthquakes killed at least 90 people and damaged thousands of houses and hundreds of schools in the southern part of the country. nuclear inspections and iran have almost doubled under the agreement that president trump has questions. the president threatened to tear up the agreement during the campaign. president trump's decision to give honduras six months to come up with immigration legislation dealing with so-called dreamers did not just make liberals unhappy. the presence former chief strategist steve bannon talking to charlie rose about the policy known as daca. >> i understand how he struggled wi

i'm taylor riggs. this is bloomberg.? thanks so much. the war of words between north korea and the united states is continuing. north korea news agency is responding to the united states calling for new sanctions against it, saying the u.s. is a he myth aggressive who is being big -- who is begging for war. president trump saying, i am allowing south korea and japan to increase military equipment from the red states. earlier today, we are tied for -- the only way to handle north korea is to contain it. numbermilitary options one would be effective but not all encompassing. number two, the day after would be looking at a situation on the korean peninsula with hundreds of thousands of people dead. it may be that we finally got to swallow a bit of a pill and a knowledge their nuclear power and try to contain them, not try to remove that capability from korea. file: joining me is brian -- fowler, great to have you in new york. what do you think containing looks like and do you think there is a recognition from the u.s. admin

with theck in now first word news with taylor riggs. in texas hastoll risen to 39 from tropical storm harvey. authorities are still searching for but comes. they say floodwaters are expected to be gone for most of houston by early tomorrow. meanwhile, firefighters are still monitoring a chemical plant after an explosion and fire. owners of the are kemah facility warned there could be more explosions. president trump may use the disaster to lower the risk of an unprecedented default. the president may cap an increase in the debt limit for the disaster in request. the white house wants to extend the limit until congress can deal with funding the government for the fiscal year. european central bank may not be ready to decide on next year's bond buying program until just before the current one expires. that is according to euro area officials. -- holdkers heard there their first formal talks on the stimulus next week. we can inflation has some concern back to buying. camenya, a decision that reshaped the country's political landscape. of t

here is taylor riggs.resident donald trump and congressional republicans have unveiled the first major revamp of the nation's tax code in a generation. the nearly $6 trillion tax cut would deeply reduce levies for corporations, simplify doublee's brackets, and the standard deduction used by most americans. president trump: tax reform will protect low income and middle-class. protect the well-connected and the wealthy. it is not good for me, believe me. the corporate tax rate would be down to 20% from the current 35%. tom price spoke with chief of staff john kelly yesterday and did not offer his resignation over his taxpayer-funded trips on private jets. he tookported that dozens of private flights that cost hundreds of thousands of dollars. puerto rico is still virtually without power. the plans to lend fresh cash to the storm ravaged island. >> there is a significant need for immediate restoration of the electric grid. what are bondholder group did was put forward a proposal to provide utility with $1 bil

here is taylor riggs. ntradicting some of his fellow republicans when it comes to tax reform. he wants them to benefit the middle class and not the wealthy. next week, british prime minister theresa may takes her brexit firm offensive to italy. she said the u.k. can still work closely with the e.u. after leaving. meanwhile the chancellor said they have -- over the super vision of financial markets. later this month germany decides whether to give chancellor merkel a fourth term. there is talk the left leaning green party could join a grand coalition. >> not good for the country on the long-term to have all of parties are asked to -- what else is possible? what we need to do is having serious talks to see what is possible and what is not possible. >> the german election is september 24. global nows 24 hours a day powered by more than 2700 journalists and analysts. i'm taylor riggs. this side bloomberg. tom? francine? francine: mario draghi's attempt is falling on deaf ears as investors turnbullish. attempts

i'm taylor riggs.rs to resolve a dispute that has the service at risk for its ability to operate in the city. inr has about 40,000 drivers london. you can read all about it online. the wall street journal is closing down print editions in europe and asia. the final print edition in europe will be today. the final asian edition a week later. europe started in 1983. that is your bloomberg business flash. tom: i am not going to mince words, that is a huge loss. sad news for all within business journalism. let me show you what it is about. francine and i know we have the best guest like rupert harrison at blackrock. here is charlie stein. bring it up. i really do this. charlie stein is the number one guy on portfolio managers in boston. a quiet franchise by charlie stein. here he is writing about david arrows active record in chicago. ball arrows hit the out of the park once again. if we get more volatility, can active crawl back? >> it has been a good year for active managers. we think the environment is

here is taylor riggs. is month, mexico has been hit by a killer earthquake. an earthquake measuring 7.2 struck outside mexico city here at at least 248 people are dead. 32nduake hit on the anniversary of another one that .illed thousands of people just two weeks after hurricane irma caused billions of dollars in damage, puerto rico is get hit by another storm. maria has weakened, but it is still a category four storm. warns the iran nuclear deal must be changed for the u.s. to remain a part of it. there's a countdown as to when iran will get nuclear weapons. president had to decide whether the u.s. will stay in the deal. londonre suspects in the subway attack. some suspects were arrested in wales. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm taylor riggs. this is bloomberg. francine: thank you. days away from the german --eral election, joh spokellor angela merkel in a televised interview ahead of the election. that thiseveryone election is n

taylor riggs is here with first word news. owerful storm ever to form in the atlantic ocean is aiming towards florida. earlier today a pass over the island of barbuda in the caribbean. it could hit south florida this weekend. the worst-case scenario has arm destroying so much it could become worse than katrina. american airlines announcing 51 flight cancellations today and tomorrow due to irma. south korea's president is seeking vladimir putin's help with north korea. warned that the situation could turn uncontrollable. putin said there is no point in backing north korea into a corner. theident trump is leaving door open slightly after ending a program preventing the deportation of immigrants illegally brought the uss children. u.s. asht to the children. putpresident's action has in limbo about one million people who consider themselves americans. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. i'm taylor riggs, this is bloomberg. alix: you have a little bit of risk off

i'm taylor riggs. this is bloomberg. francine: thank you. you are also looking at live pictures of the european commission. president junker, giving his state of the union speech in strasberg. this is what we are seeing. he is in talking about -- he has been talking about what it means being european. he has also been saying that europe is doing better, both in terms of economic things, and political things. it seems he is talking a little bit about brexit. we were briefed that he might not address brexit so far. he says brexit is not the future of europe. we will keep a close eye on juncker talking for his state of the union address. we will keep watch on anything he might they in terms of breaking news throughout the morning. global stocks are at an all-time high, but concern is creeping into concerns of the market. the number of investors seeking protection from a possible plunge has a searched. the founder of hedge fund says a correction could be on its way. i think the market is adequately valued. it is not overly valued. the reporter a

here is taylor riggs. ing the aftereffects of hurricane irma for weeks to come. more than 12 million people do not have power. millions have been displaced. the florida keys were so heavily damaged that the 10,000 people who stayed during the storm may have to be evacuated. governor rick scott took an aerial to her and said he thought he would seek more damage across florida. the un security council has unanimously voted to impose more sanctions on north korea. the new penalties do not go as far as the u.s. wanted. the trump administration dropped demands for an oil embargo and a freeze for assets on kim jong-un. that cleared the way for russia and china to back the new sanctions. british prime minister theresa may asked president trump last week to interview in a court dispute between boeing and lombardia. may's government relies on north ireland for votes. president trump is planning an aggressive roadshow to sell the idea of tax overhaul. he will travel to as many as 13 states in the next seven weeks. th

here's taylor riggs. ent trump has sided with immigrants on adding a three-month extension to the that limit -- on the debt limit. plan which paul ryan called unworkable provides funds keep the government running until mid-december. stanley fischer has resigned citing personal reasons and will step down in mid-october. the 73-year-old was appointed by obama and the 2014 to a term that would have ended next june. his departure a gift president trump -- may give president trump focus. the president is unlikely to nominate gary cohn. the european central banks two-day meeting concludes today with puzzlement makers having discussed various scenarios for wanting down asset purchases. in starting the debate on normalization, draghi is following through on a july place to start talks this autumn . the ecb's policy announcement comes at 12:45 u.k. time with draghi due to speak 40 five minutes later. you can follow it on bloomberg tv. as many asy cut 14,000 jobs in europe and latin america according to a report in

let's get to first word news with taylor riggs. have conceded defeat on their last ditch effort to repeal and replace obamacare. helpednt donald trump raise an estimated $5 million for republicans as he dined in new york some of the biggest names in finance and real estate. about 150 people attended the event. tickets cost a minimum of 250,000 dollars but couples a seat with the president. incumbent senator in alabama luther strange was beat by roy moore. efforts to boost strange's campaign failed. sending personnel to puerto rico could to address the humanitarian crisis after hurricane maria, large sections are still without food, water, and fuel. president trump a adviser says north korea should consider inspections of nuclear facilities and declare it is willing to give up atomic weapons. h.r. mcmaster says that could lead to the u.s. negotiating with the government. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm taylor riggs. this is bloomberg. think is a much. sau

tom: here is taylor riggs. taylor: h.r. mcmaster says the u.s. how the crisis with north korea will be resolved and some are uglier than others. u.s. officials dismiss as absurd the north koreans foreign thatter conference president trump's speech amounted to a declaration of war. president trump expects the house to approve the tax bill i year's end. the tax bill by year's end. spanish prime minister will meet president at the white house today. the visit comedays before catalonia's regional government opens a vote on independence. it is the biggest challenge to the country's constitution and more than three decades. mentioning, emmanuel macron will make proposals for reshaping europe later today. he needs angela merkel's backing for planned overhauls of areas ranging from defense and integration to the economy. with angela merkel we can in germany's elections, the prospect for radical change in europe looks to have diminished. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor

here is taylor riggs.you are mentioning it was history in germany. angela merkel won a fourth term as chancellor but her victory was marred. a new challenges in front of us. afd hashe fact that the entered the federal parliament. we shall analyze this closely and in depth because we want to gain back those voters of the afd by solving these problems, giving them solutions and certainly by good politics. taylor: merkel and her main plunged to historic went to afd. millions of, iraqi kurds cast ballots in a historic but nonbinding vote. the united states has warned the vote will destabilize the region amid the fight with the islamic state. travelers from eight countries will face restrictions on entry to the u.s. under a new policy unveiled by the trump administration. will impact chad, iran, libya, somalia, syria, venezuela, and yemen. it will go into effect october 18. president donald trump's criticism of players who protest during the national anthem sparked an increase in activism with 200 nfl players s

in new york city, taylor riggs. e flew further than any other one the north korean regime has launched. it was the second to fly over japan in two months. it traveled enough distance to put the u.s. territory of guam in range. north korea had vowed to retaliate for new security council sanctions. president trump has said he does not know whether he will nominate janet yellen for another term at the federal reserve, but he likes and respects her. president trump has signed a congressional resolution condemning white supremacists and other hate groups. congress passed the measure after a rally in charlotte that turned violent. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. francine: thank you so much. the german federal election is 10 days away. week, wolfman sharply, another term as finance minister and angela merkel looking for another term as prime minister. given the implications for the speed of european integration.

here is taylor riggs. it is set to hit lord up. .00 -- hit florida 185 mile-per-hour winds, models say it could strike florida this weekend. people should evacuate or hunker down. expensivee the most natural disaster in u.s. history. president trump is leaving a door opened slightly after program and said he would revisit the dreamers' issue in six months. the president's action has put in limbo about one million people who consider themselves americans. resident trump takes his campaign to overhaul the tax code to north dakota today. he will have in unusual guest on u.s. one, heidi heitkamp. he's living in congress. negotiators are downplaying president trump's threat to pull out of trade talks. have canada, and mexico reiterated their commitment to deal thistiating the year. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. document says.k. administrators are considering limiting immigration from the e.u. after brexit. should bed

joining us now is taylor riggs. all about the future forecast revenue growth and matching expectations. they are expecting growth to be 60% and that's a pretty good especially after they came up two quarters of 90% growth each, so really making a lot of games. if you look at the numbers, you're looking at $6.3 billion. this time a year ago you are less than $4 billion. if you take back on a long-term chart, you can see how high they are. there are the highest now since going back to the.com crash. is cap asked in spending. -- cap x in spending. memory chiptter units that have better capabilities so the street is excited about that spending and projects that could boost margins. shery: that's good news for suppliers than? taylor: always good news. we are looking at applied materials and the stocks are trading higher on this news. supplier certainly getting a boost. are forecasting to be $7.5 billion from estimates of 5.7 billion. not only giving the stock but the suppliers a boost. vonnie: taylor riggs, thank you for

scarlet: let's check on bloomberg first word news with taylor riggs. taylor: hurricane irma has picked up steam as it approaches the caribbean all caps to the u.s.. florida is bracing for potential landfall. residents plan to board up their homes. category five storm with sustained wind at 175 miles per hour. a hurricane warning has been issued for a number of islands, including puerto rico, st. martin's, and the u.s. and british virgin islands. are coming back online following hurricane harvey. she will valero's refineries and taxes are back to free storm refining rates and exxon mobil has resumed shipping fuel. point,store -- at one the storm shut down 90% of u.s. refining capacity. theresa may will try to force theresa may will try to force the pace of brexit negotiations. later this month, she will deliver a speech to make the case for continuous talks. the u.k. wants to move on to the issue of trade, while the eu wants to settle other key issues first, such as how much the u.k. will pay an exit fee. there are growing doubts that a deal on rewriting

here is taylor riggs. taylor: angela merkel won a but her victory was tainted.al democrats christian democrats plunged to historic lows. prime minister abe says he will call for elections next month. heighten tensions with north korea have boosted his approval rating and may help maintain his coalition's two thirds majority in the lower house of parliament. donald trump's criticism of players kneeled during the national anthem spark an increase with about 200 nfl players kneeling. displayocked arms to unity. it also drew objections from some owners, including robert kraft. countriesfrom eight will face restrictions from entry in the u.s. ranging from a total ban to heightened background checks. the new rules will impact the citizens of chad, iran, libya, somalia, and yemen go into effect august 18. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. david: thanks. two of the countries covered by trump's revised travel ban on north korea and iran. they were also targeted

vonnie: joining us now is taylor riggs. have seen a tight correlation between nvidia and bitcoin. if you come into my terminal at g #btv 60 to 63, you can see that high correlation until recently. the chinese government cracking down on domestic use dimon morgan ceo jamie saying he would fire a trader trading bitcoin. bitcoin necessarily is an oversold. of these comments, we are looking at the rsi, relative strength index. it is above 70 overbought and below 30 oversold. it hasn't breached that oversold below 30 line and over two years. even after all these comments, not necessarily having a huge dip. a 13% loss over the past few trading sessions, but again before that. we will need to see a lot more negative comments to pull down bitcoin further. vonnie: what will it mean for nvidia? taylor: we had a jefferies analyst come out with a note earlier this week talking about how the stock has other fundamentals driving it because nvidia performs relatively well into the negative comments we have heard about bitcoin and cryptocu

joining us is taylor riggs.tionale for this, this next set of technology, sky works is poised to benefit for it has a lot of clients. the roads.hinges on 5g. you have some cities testing it out for late 2018. , 5gless on your phone looking like a 2020 story. prospectshese growth and a lot of it based on china which brings me to my next point. 93% of their sales come from china and they're pretty tied to the iphone, 34% of sales from iphone. last quarter, strongest gains from samsung and while way. they --huawei. up 125. upgrade, a buy julie: a much more rare one. apple is a big chunk of cells. how does the iphone eight plays into it? but how does the iphone eight play into it? taylor: wrote from the iphone and the sales alex he 8 lot -- 8msung aleksei 8 -- galaxy launch and they hope this growth will take them forward in not .uite tangible yet and a 2018 if they can get their hoping it will take them to the next level. julie: the shares are of a little bit. taylor riggs, it is one of the biggest deals and the ae

i'm taylor riggs.of the day, higher confidence and m&a -- the blue line is m&a volume. tax reformhe hope of and repatriation of cash, but m&a has not held up. isaiah down with one investment banker and asked what his plans are looking for out of d.c. >> in particular in 2017 they looking for the main environment, and what they are looking for his clarity. as the year has gone on and it has become more and more muddled, people are frustrated. they have put deals on hold. they would love clarity. most ceo's and boards are tired of worrying for it -- waiting for it and getting back to business as usual. , we havening us jeffrey solomon. is it the same thing that gregg told me from where you sit? you haveh, i think if political uncertainty, tax reform uncertainty, folks will wait to see how that shakes up before they make any moves. said they were tired of waiting. he said they could pick up deals on the back half of the year because of it. do you not agree? jeff: there's a little bit in the pipeline we th

vonnie: taylor riggs, thank you.movies, it has been a miserable summer for the movies. there will be no new wide releases on this labor day weekend, meaning returns could sink to levels not seen since the 1980's. overall the 2017 summer box office could be the worst since 2006 when all is said and done. joining us now, paul sweeney, bloomberg intelligence director. what is going on? is it sequelitis? are we getting bored of all these big budget retreads? paul: i think what we are seeing this summer are bad movies. there are not that many movies that people went out to see multiple times. this summer has been a disappointment. looks like it will be down 20% year-over-year summer box office. that takes a big hole -- digs the industry a big hole. 2015 and 2016 were record years. people will go to the theaters if there is good content to see. we just did not have many hit films. too many flops. mark: well franchise fatigue deter hollywood in churning out more franchises? paul: that is a good question. we have certainly h

i'm taylor riggs. this is bloomberg. tom: thanks so much.s, bonds, currencies, commodities, risk on this morning. futures up an additional six as well. fixed income fairly quiet this morning. a little bit of that today. euro. oil elevated. that is american oil. $50 a barrel. 10.23, shows the bull market over the last number of days. yen, 111.35. gold week as well. francine: when you look at the bullish sentiment, seems to be filtering through the asian stocks and european stocks. , 1.35.to show you pound look out for any comments from boris johnson. we have that big speech from theresa may later in the week. dollar stronger. safe havens slipping a touch. tom: let's do a chart. this will be a source of conversation. really across all this week, with the fed meeting on wednesday, this is the fed funds target rate. here's the time of volcker. down we go. these are the three moments where we got more restrictive. i did this to show how rare a restrictive fed is. against a long-term regression, we've only gotten restrictive before the financial c

this is taylor riggs. taylor: it could have been a lot worse.damage caused by hurricane irma. half of the state's population was left without power. there was record putting in jacksonville. residents in the upper keys are being allowed to return home. as storm surge is not devastating as feared. the un security council has voted to impose more sanctions on north korea. the new penalties don't was far as the u.s. wanted. the administration dropped demands for a freeze on assets. that cleared the way for russia and china to back the new sanctions. north korea rejects the sanctions and says the u.s. will suffer. in norway, the country's first conservative party leader one reelection for the first time in 30 years. will -- she will have to form a coalition government. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries, this is bloomberg. i am taylor riggs. joanathan: thank you very much. thee shares are approaching all-time high in anticipation of the event today. they are expected to unveil thr

for its weakness, taylor riggs is here to explain what it is. : i am sure you too could have figured this out quickly. directors supporting nelson in aboard aboard. in the past, -- so, it is a tough fight. >> it is a problem for the whole consumer peoples. >> one thing we are talking about is she. it has gone a lot smoother than perhaps proctor and gamble. with ge, it comes to john and his attempt to turn that around and help that all go a little more smoothly. >> awesome. amazon unveiled a range of new products including a smaller and cheaper version of its echoes bigger today. techfferings join a product vying for consumer attention for the holiday shopping season. us from san francisco is executive editor brad stone. great to have you on. talk us through the products. alexa's voice will be everywhere. journeyn has been on a to find itself and create a platform of services and hardware devices akin to what apple has with the iphone and what google has with the android. amazon's android operating very far inot go tablets or phones. and echo, it

while we await president trump, let's get a check on where stocks are trading with taylor riggs. taylor: not a whole lot going on here. smaller gains wednesday. really nothing here on thursday. the s&p and nasdaq mostly unchanged. the nasdaq with slight green on the screen led by the pharmaceuticals. gilead is still continuing to lead the gains there after the takeover of kite last week. kite does more cancer drugs. that is one piece of good news with some small gain. i want to focus on the big losers we are seeing. comcast is one name i'm focusing on. they are continuing to see increased competition. they may see $150,000 in subscriber losses. shares down the most in two years. they are trying to slow those losses. you have other tv providers like hulu coming in cheaper with fewer channels. cutters, ithe cord should note. disney down 4.5%. they are seeing profit in line with last year, but that's not good enough for investors. is expected to be released in the 19. along with the new espn app as well. -- released in 2019. we are keeping our eye on irma. it is looking like it may h

i am taylor riggs.ig acquisition today in the defense contracting industry, northrop grumman has agreed to buy orbital in a deal worth $7.8 billion. weaponsmakes advanced and space systems. the world's central banks cannot ignore the bitcoin boom. at some point central banks may have to consider whether they should issue their own digital currencies. that is your bloomberg business flash. jonathan: thank you. jamie dimon turned the conversation up on this last week. take a look at what the ceo of jpmorgan had to say. >> if we were to trade at 6.5 in the second -- [laughter] morals, andinst our it is stupid. jonathan: joining me is stephen parker and mike schumacher. what are people who trade bitcoin like? >> i have no upside to agreeing with jamie on this one. focusing on global equity markets is important, and the technology around bitcoins is fascinating, but as an investment, i have little to no value. jonathan: here is what mohamed el-erian had to say today. he wrote about bitcoin, we should expect

joining us now is taylor riggs. market is assuming it is apple, but we don't have confirmation. technically we are saying a customer. scarlet: what was this products use? muchr: they are pretty suggesting this would be in the iphone 8, so you're looking at ripping up production for that. a lot of concern around this is that approval was delayed, so they will not be entering into this round of production for the phones. that was the big takeaway from earnings. the call was yesterday. ignore everything else, there was one thing you needed to know. they are being delayed to get those 3-d sensors into some of the new phones. currentsaying perhaps quarter we are in, they could get approval, looking at $30 million of orders a quarter once they start ramping up. julia: this is 3-d facial recognition. the other reason they would be in focus is to get a glimpse of how many phones you think apple is going to sell, if the customer is indeed apple. it is kind of a gauge of demand from the apple side. taylor: we could talk about

drug company is trading at a record high after the company -- joining us is taylor riggs. just weekly numbers. i will get to the full-year revenue, but first, i want to break this down for you. a sickly, this is coming up .4% over the last -- basically, this the last up .4% over week. shares were up 6% yesterday. decent followthrough, especially when we look long term. you can see the big spike today. good for investors. this week versus the week before. lot, butt seem like a if you take a look at the full-year revenue estimates, you can see this company is having decent growth. they are looking at growth of 9% for fiscal year 2017. they have had double-digit growth for the last two years. they are hopefully coming in at 9% this year. i don't think investors are complaining. seeing those kinds of moves on these numbers, i would suggest this is critically important for these guys. what kind of revenue is it? >> they get tons of money. 65% of sales alone from hume ra. on a quarterly basis, nothing else comes close. mira gets 68%, the next highest only contributes 9%, the othe

day,l news 24 hours per i'm taylor riggs. this is bloomberg. francine: thank you so much, taylor.eign minister has ridiculed president trump's threat to annihilate the country. he told the united nations general assembly that the threat is akin to the sound of a dog barking. aftermments came a day president trump threatened to wipe out north korea. chairman, thank you for joining us. let me kick off with iran. if donald trump and the deal with iran, what does europe do? , let's hope this is only hot air and it is not yet decided. that is what i hope. if the united states walks away from the iran deal, this will be in major setback in various dimensions. setback for major the role and the credibility of the united states in international politics. second, it will be a major setback for our effort to keep iran under wraps for the next decade or so. if the u.s. walks away, iran may walk away and we may have the reemergence of nuclear activities. third, and most importantly, if the u.s. walks away from the iran deal, how are we ever going thatplain to north korea it would be better to

joining us is taylor riggs. all positive on the top and bottom line but all about future guidance. expectations for growth in the future, the cloud business expected to slow on revenue growth to about 41%. that would be down from 51% growth the last quarter that just finished, their first quarter of the fiscal year 2017. the slowest quarter since the third quarter in 2016. a little bit of concern about an increase in competition in some of the demand for the services. starting to put some pressure on oracle. big of a is not as business as you look at it as a percent of revenue yet but definitely a push for the company. they get about 60% of their revenue from the traditional software and services. they have been hiring salespeople and making acquisitions to push forward in the cloud space. concerning when you look at the projections for the next quarter. vonnie: there must be other people that are benefiting in the cloud. taylor: citi talked about sap and said they may benefit after oracle earnings yesterday. ora

here is taylor riggs. taylor: people chased away by hurricane irma are returning to some of the florida keys. they have been allowed back into some of the upper islands. the highway to the lower keys has been washed out or it water and power has been cut off and all hospitals are close. an aircraft carrier will help with the search and rescue. president trump is planning an aggressive roadshow about tax overhaul. he will travel to 13 states in the next seven weeks. the white house is trying to avoid communications failure they experienced failing to rip -- repeal obamacare. sanctionsa called the illegal and unlawful. issaid they are the u.s. evil intention to destroy north korea. the u.s. had to water down the sanctions to get russia and china on board. the ntsb is cautioning drivers that they cannot turn the wheel over to driverless systems. the chairman said the automation replaceaugment not human drivers. that is the likely cause of a fatal crash last year involving a driverless car. global news 24 hours

i'm taylor riggs. there is a blockbuster deal in the aerospace industry today.llins for about $30 billion in cash and stock. the combined company is everything from touchscreen displays to jet engines. they will be better positioned to withstand pressure from boeing and airbus for price discounts. deal will create a business that will help design and operate engineering projects such as engines and nuclear power plants. capitalgroup and bain are interested in buying nestle's confectionery business. to bey is also said interested. that is your bloomberg business flash. tom: thanks so much. let's talk to car -- carl weinberg of high-frequency traders. where we are right now, everybody got the dollar call wrong. outgot stronger euro well to standard deviations. how skewed is the foreign-exchange market now? placeis in an interesting pouncing fundamentals, which suggests a stronger dollar against most currencies other than canadian dollar. there is a lot of confidence in the u.s. after the trump election and trump inauguration, but that seems to be dampened. weaknes

now going over to taylor riggs. she has our bloomberg business flash. ylor: neel kashkari is backing janet yellen for a second term. >> i think janet yellen is doing an excellent job and i really hope she gets -- i cannot think of anybody was better equipped to lead the federal reserve for four more years than her. economist with leadership skills. taylor: yellen speaks on monetary policy in cleveland this afternoon. you can watch it live here on bloomberg television. some are calling it china's netflix. they are targeting u.s. initial public offering as soon as 2018. it could value china's was popularnetflix. streaming service as much as $10 billion. the biggest diamond found in more than half a century is off the block. it was sold for $53 million. is the size ofch a tennis ball went unsold last year and has been expects to go for as much as $86 million. that is your bloomberg business flash. is the size of i was waiting forjonathan: kashkari to say apart for me. that: i am not sure president trump is listening to neel kashkari. neel kashkari would lik

let's look at how stocks are trading with taylor riggs. taylor: a

joining us with more is taylor riggs. the scope is huge. had smaller bridges, but this is by far the biggest we have seen. the concerns that are driving the stock lower besides the headline news is that they learned about it on july 29, they are only talking about it now. reports that three executives worth a million dollars at that time. the company saying they did not know about the breach at that moment. what does this mean for experience and trans union? xperian down 4%, and trans union down as well. this means we need stronger protection for the consumers according to some. like you had said, in 2013, we had small instances of these companies reporting data breaches, but nothing on this size or scale. julie: thank you. talking about equifax and the other credit bureaus. last night's game between the means nflnd the -- football is back, but that also means that super bowl is back. joining us is nigel eccles of fanduel. >> we have to talk about fantasy football. last night, tom brady and rookied the chiefs fumbles early but made up for it

taylor riggs is with us to explain what's moving. ylor: we were down a bit, we had big gains yesterday on the s&p and nasdaq and today coming off the tax form proposals, taking a bit of a breather. taking a step back to say how will we get this enacted, is it just the opening argument, when will the lobbying efforts start? i want to stick with tax reform. come with me to my terminal. we have been talking a lot about how small caps have outperformed large caps. small caps are more domestically-based companies in a fitting from a lower tax rate in the u.s.. here we have targeted the russell 2000 compared to the s&p 500 and you have seen a bit of outperformance. look at the big spike up yesterday. in the relative outperformance compared to the s&p. not anywhere close to what we saw after the election, but will nonetheless pretty big moves for small caps yesterday. when we talk about the individual stocks we are looking at, i'm looking at mcdonald's, which is a little bit higher uy.ay after a raise to a b legal a report, 43% of atijuana u

joining us with more is taylor riggs. gopro had quite a rocky road. >> it has.ere's vo as well, video with a theme going over the rockies. the fundamentals -- you have to cut expenses. look at the new products that are coming out. they upgraded the hero 6 camera and a new 360 degree camera that will help. it comes down to how easy it is for hardware and software. it has to be easy to use. showing how the gross margins could be in the high end of the range from anywhere from 36-38%. ,nalysts saying it could be 38% the highest into quarters. at an incomeerate property versus luscombe it would be the first time in three quarters that it happens. the quarter ends at the end of this month. they are excited about the early guidance they are getting. julie: what about the competitors? the first mover advantage and then there were questions about competitors. how are the suppliers doing today? taylor: it was tough to find a peer play. fitbit was perhaps rising a little bit on this news as well that maybe wearables are popular. ,hen you look at the suppliers garmin gets

mark: take -- vonnie: taylor riggs starts. 3.1% inevised upward to the blue line, already revised upwardcond print and 2.6% from the first french of gdp. we are getting 3%, donald trump and steve mnuchin big talking points. fed, theya fed up -- look, entering the fourth quarter next week, where does that leave us? a little bit of a dip. in the third quarter, hurricanes , so a little bit of a dip. it, going back to the fourth quarter, bi going up to 3.2% so gdp very clear in the headlines. vonnie: wonderful. we always love looking at the atlanta fed gdp cast. thank you for reminding us. over to you, mark. mark: a history lesson, the by giving when celebrated 20 years of -- the bank of england celebrated 20 years of independence. the last 20 years, i will know go back to when i was born in 1930, starting in 1997, the race were 7% -- rates were 7%. down to 3.5% in 2003 and financial crisis peak -- .5% we thought it was done in 2009, .5 was below and after brexit we went down and the boe talking of raising rates. --s wonderful time is a time a sporting analogy, to hav -- two halfs, the first

vonnie: taylor riggs, thank you very much. let's stick with the markets and u.s.tocks remaining near all-time highs, 2500 for the s&p 500, even after the unexpected decline in august, retail sales and the geopolitical tensions continuing in north korea. joining us for a look at how to manage in this environment is michael purves at week then company. looking for a drop in the s&p 500 before the end of the year but as we move through the month and nothing happens, are you as convinced as you were at the beginning of the year that we will see a correction? >> year-end price target is 23 you have to get there. i will probably taking the price target up in the coming weeks. the broader message is that, if you step back, you can take the view that globally sigrid nice growth continues to persist and with that context against the backdrop of generally constructive central banking, the question is -- which assess will have the best risk adjusted returns? i am not convinced between now and year-end the u.s. equity markets as a whole will have that. if global growth and lo

kicking things off is taylor riggs today. >> with bitcoin it's all about volatility.yhistorical at 100% which means that we could see perhaps 100% price move in the cryptocurrency. in the short-term expect some volatility in terms of people commenting on what comes next for the cryptocurrency. long-term expect stable and regulated platforms. vonnie: take it away. mark: remember when we talked about the papers on the daily basis at the height of the sovereign debt crisis. by 36 basis points. biggest decline since 2010. standard & poor's raising the nation's credit rating to investment grade. year yieldhe 10 lowest level since december 2015. this is the spread between portugal and germany which is down to its narrowest range since january 2016. the pigs are looking up. big festival here in new york. italian festival yesterday. for no other reason than all that i'm going to award today's battle the church crown to mark barton. up, eu competition commissioner joins bloomberg technology. stay tuned. more markets next. this is bloomberg. ♪ so we need tablets installed... wi

joining us with more is taylor riggs. y spiked at 2% and not much changed right now as there is chatter around the earnings. taylor: i will start with good news on white is up this morning -- why it was a this morning. beat analyst estimates, rose 2.5%, up to eight $.2 billion -- $8.2 billion. i think the main take away from this company is the downsizing. i think investors rewarding the 2015 asthat back in they separated from printers and ink and software business, so they are coming back and trying to look at the stocks that have done them well. the storage business is getting back to basics of 11% this quarter. business revenue up 16%. the good news that analysts were siding. about meg whitman talked how she did not go over and take the uber job, saying she has more work to do at the company here. what work? what are her goals now? taylor: i would argue that analyst on the street would agree there was work to do. you saw four of the major banks cutting that price target. i would highlight bank of america and jeffries, w

joining us with more is taylor riggs. give us the background. what is this deal about? s their third attempt. it comes down to the debt -- down to the industrial software. as you mentioned, closing up higher today, now the highest going back four years. you have to see the investors this excited. it is all about operating engineering projects. whether that is nuclear power plants or diesel engines. and also maintaining their footprints in the u.k. before i get there, i want to talk about their competitors. you have companies like honeywells sending billions of dollars to go into the software space. they have realized that they needed to do that to keep up with the competition. the schneider's ceo said destabilization in the oil and gas sector made this deal attractive. sectors are moving into automation. makes sense for the sectors. a lot of things came together for the company this time around that -- than the previous time. julie: what was the problem with the back-and-forth? taylor: they decided things were not coming together. this time, it looks like the deal was go

that was taylor riggs.rom asia to latin america, brazil is at a political and economic crossroads. the largest latin american economy is attempting to put austerity measures in place to restore investor confidence as the nation gears up for next year's presidential election. i sat down for an exclusive conversation with the finance minister of brazil. countriesm why the economic recovery is taken longer than forecast. >> in my view, it's exactly about the timing that i had expected. when brazil began to improve the , it went up about mid last year, we had the first leg of was sold as ahich deleveraging of corporations and families. recession,the long theanies have borrowed up higher leverage and that was a problem for those companies and families. than the first part of the recovery, companies were basically deleveraging themselves and families as well. the beginning of the recovery but it was very important that that took place at that time. then the first quarter came up short. vonnie: the gdp growth is %

let's get the details from taylor riggs. >> we had some losers earlier this morning as people were kindf digesting what does tax reform mean and how does the followthrough carry through. now the market really taking this in stride. euphoria is continuing even though there are some doubts about what comes next. morgan stanley still saying it's a first half of 2018 story. the markets still pretty excited about tax reform with the exception of the nasdaq which is down .1%. offng some of those gains the table. let's look at the biggest winners and losers. healthners, a lot of the insurance companies of today. there was a report chuck schumer was on the verge of a bipartisan deal to stabilize the obamacare insurance exchanges. yesterday was the deadline in most states for the insurance companies to figure out if they were expanding are not in 2018 versus 2017. a lot of those insurance companies are down on a map of the country. losers we are looking at, rite aid caught my eye this morning on an earnings call this morning down 11%. the ceo saying they are going to continue to face margin pres