not about helping the russian economy. until the end of last year , you talked about 2% economic growth. at the moment, preliminary estimates are for roughly speaking 1.4% to 1.8%, why not 2%? >> we do not know what the exact growth figure will be by the end of january. we will see the real growth there it is important, when we were talking in davos last year, i mentioned, for 2017, to implement the economic reforms. we did it and we did it for longer-term growth. it does not matter the exact growth in 2017. what matters is we have a solid foundation for long-term sustainable growth in the future. erik: if it ends up being true that the economy contracted, even if only for a small amount for two quarters in a row, amounting to a technical recession, you will look past it? >> it would not be two consecutive quarters, the economy continues to grow. the question is how strong the growth was last year, 2%, 1.5%? indicators like air traffic, 20% growth. -- the growth was there. we need to think longer-term and look into the lon

, when the economy's healthier. er tells his union supporters we're not going to do business with this guy, wait until we take control of the government, then we'll do infrastructure, i think a lot of unions are going to say i don't know if we're going to buy that deal. trump helped the coal industry, and this is the moment to get those jobs while you have a bird in the hand. so i think there could be pressure on the democrats to do a deal. paul: i think, mary, there's a chance on immigration. you've got the daca bill that democrats want, and maybe combine that with some border enforcement to get a possible deal. there could be a deal on a de minimis financial reform of a kind that's been moving in a bipartisan fashion in the senate. not going to repeal dodd-frank, but maybe a portion of it particularly for smaller banks. i don't know that there's much else. >> no, i think the democrats are going to want to obstruct, and they see that as a way to win big in november. they can say the president didn't accomplish anyth

the u.s. economy reading 148,000 jobs last week. at was below the estimates which called for jobs of 190,000. still a good number. the good news was wage growth is picking up, a sign that the economy could be reaching full employment. unemployment is 4.1%. it was a solid jobs report for the economy between job growth and stock market and wages on the rise, the economy is on solid footing. but what does 2008 have for the economy and the markets? ananthony chan kicks us off on that. give me your take on the jobs number we saw on friday and how the economy is shaking out as we kick off the new year, 2018. >> well, maria, this employment report was actually pretty good because everybody is concerned that the economy will overheat, we'll have a lot of inflation and the federal reserve will raise rates aggressively. we didn't see that. wijs are rising as you indicated, up 2.5%. we got a slightly downward in the last month. but this means no overheating. we continue to create jobs. we've had 87 consecutive months of positive job gains. that

and the world economy. if the u.s. economy is doing well, it is important. ere will be a lot of investment in the u.s. economy. keep that in mind you feel that protectionism. if the u.s. policymakers want more investment to come in, they will have to be pragmatic. it makes me optimistic. since the beginning of the year, we have had a rare combination of markets going up, volatility going up. we have a scenario where everything goes up. this is a very good conjunction of volatility increasing a little bit and market going up. but you cannot draw too many conclusions from 2017? host: you've had a few weeks now to evaluate the tax bill. this is where i am going to start. how it affects your business, how it affects the competitive environment. what conclusions have you drawn? guest: relative to the place of american business in the world, our competitive business has improved. i think we have caught up to the rest of the world, and i think it is what we need to do to make american businesses competitive with other businesses in the developed markets. host: does

grew by as much as seven percent in twenty seventeen the main in you economies don't even come close to that. economist. doesn't trust the glowing figures he says turkey's economic miracle is built on sand we do have an investment boom in structures as you know istanbul is now covered with this skyscrapers but that's that investment it doesn't productivity growth it is what the economists call sustainable we can't go like that. that active player has his own crisis to deal with after he's finished his shift in the café he often walks past the hotel he owned not so long ago. but move that's already given up hope it might one day be his again. not for more let's bring in gareth jenkins who is with the nonprofit research institute for security and development policy in istanbul karratha to the program now we just heard in the report an economist saying that the growth in turkey the economic growth is built on sand and not sustainable what's your take on that i tend to agree i mean certainly the extraordinary high growth rates we have seen for the third quarter of two thousand and sevent

that is why the economy is growing. if the democrats don't catch on to this, jump on board to try to help i don't know what their issues are being going forward. american people taking note. trish: he has taken their space. he has taken the working class, middle class american space, that the democrats used to have. so i understand. >> donald trump can never take the place of democratic party because we believe in equality. that is something he just patently doesn't believe in. trish: thank you. >> of course he does. good to see you, trish. trish: retreating from -- must be because it is friday. everybody is fighting today. driving prices at pump. jeff flock has intel on rising gas prices. how high are they going to go? gosh it looks cold. and keeping it in the right conditions is the best way to get that fish to your plate safely. (dane chauvel) sometimes the product arrives, and the cold chain has been interrupted, and we need to be able to identify where in the cold chain that occurred. (tom villa) we took our world c

that is a function of the new economy. s not a function of the fact that we have immigration right now. tom: if you cut those skilled workers off from coming in, don't you solve the problem? president reif: we would have a problem anyway because the problem is about re-training the workforce of today to understand and work in the new economy. that is a problem, even if we have integration of town. those two issues. we will not be able to compete globally, particularly with as worthy a competitor as china, if we do not have the talent. tom: still to come, on the $15 billion endowment. president reif: i think, unfortunately, we just will have to do $10 million less, so what will we have to cut? tom: and the university pricing new real estate. president reif: the opportunity to get that space so close to us comes one time in history. not one to be missed. ♪ ♪ tom: welcome back to our conversation with m.i.t. president rafael reif. at $15 billion, m.i.t.'s is the sixth largest university endowment in the u.s., and according to

the president out thing the economy. putting the america first approach and he is taking a jab at nfl players for not standing during the national anthem. >> on immigration the president pushed for the bipartisan deal that includes a border wall and a path to citizenship for dreamers. >> as president of the united states, my highest loyalty, my greatest compassion, my constant concern is for america's children, america's struggling workers and america's forgotten communities. so, tonight, i am extending an open hand to work with members of both parties, democrats and republicans, to protect our citizens of every background, color, religion and creed. my duty and the sacred duty of every elected official in this chamber is to defend americans, to protect their safety, their families, their communities, and their right to the american dre dream, because americans are dreamers too. [ cheers and applause ] >> so, the night featured a series of emotional tributes, among those honored, police officer ryan hollis and his wife, w

but at the same time one of the freest and most competitive economies in the world, hong kong certainly benefit from the global economic recovery. we are doing very well last year. we're projecting a full-year growth of 2017 as no less than 3.7% in new terms, , which is considerably higher than the 2% in the preceding year. that is, 2016. christine kept on reminding us that while the sun is out, i'm pleased to say that i've not discovered a leaking roof in hong kong yet. but similarly while the sun is out it's osgood to strengthen the foundation. strengthening the foundation will enable hong kong to seize the many opportunities available to us rising from china's economic policy, and also asia. because asia's growth now accounts for 60% of the gdp growth worldwide, and china about is 30% contribution. this is about global economic situation. i would not be doing justice if i just talked about the small economy of hong kong. if one looks at the china economic policy, which will be very relevant for hong kong, because president xi jinping said in his repo

look, the economy is great. it has been a year. the president has really been a master brander. >> sure. >> he has branded this. >> all his life. >> he has sort of given companies and workers their mojo back in a way. >> many of the companies have jumped up after the tax cut plan and say they are raising wages. exxon says they are boosting spending because of the tax cut plan. how much of that is because of the tax cut? >> they are getting a lot of money from those lower tax rates. they have the money to spend in the american economy. one criticism, dave, some of the spending was in the pipeline. now the companies are advertising. in our enhancing some of the spending. it is the branding tax cut as something that is good for the regular guy. it is really good for shareholders too. i think those tax cuts will be like a stimulus in the economy in the near term. that is what people are counting on. the economy will keep moving because of the stimulus. will the fed have to raise interest rates to make sure the economy doesn't overheat?

we do not know how it will affect the u.s. economy, much less the european economy. this is one we will have to watch closely in the coming months because it is not certain. vonnie: richard, thank you. mark: thank you, richard jones, bloomberg fx strategist. vonnie: coming up, hedge funds rebounding after years of mediocre returns. the hedge fund industry on the come back, the winners and losers next. this is bloomberg. ♪ ♪ vonnie: live from bloomberg world headquarters in new york, i am vonnie quinn vonnie: live -- mark: live from london i am mark barton. european close is minutes away in time for the business flash. deutsche bank will take $1.8 billion charge in the fourth quarter, they say the new u.s. tax corporate overhaul, it is to account for the decreased value of its deferred tax assets in the u.s. a tax credit that deutsche bank can use to lower future tax payments. the u.s. trade deficit is at the highest level in almost six years, it rose 3.2% to $50.5 billion and exports climbed to an all-time high, more than offset by imports, mostly of consumer goods a

is growing altd or above the economy's 2% potential. that was the case in this report and for much of last year. it's not a bad bet that above trend growths looks set to continue for this year as well. >>> meantime orders for long lasting durable goods increased in december the most in six years. boxes for goods designed to last at least three years increased 3%. more than economists expected. overall, durable goods orders rose for the last five months, a positive sign for the industrial economy. >>> law make remembers turning their attention to immigration. while politicians go back and forth over the details the business community is paying close attention, simply because of the impact that immigration has on the economy. ylan mui has more. >> reporter: washington's battle over immigration also has big complications for the economy. the white house is proposing a path to citizenship for 1.8 million undocumented immigrants who were brought here as children. and that could immediately boost economic growth by $23 billion a year according

, but his economy, and the world economy. very much open to re trade deals involving more people. has withdrawner the offer he made last week to give donald trump more than the initial $1.6 billion he requested for the u.s.-mexico border wall. republicans called the move a step back in the continuing debate for immigration. donald trump tweeted, crying chuck schumer understands that if there is no wall, there is no daca. the u.s. federal reserve governor jerome powell has been confirmed to take the helm of the bank. lawmakers voted 84-13 in favor of the private equity executive. trump take himd in november to replace janet yellen, the first woman to lead the fed. her term ends on february 1. the acting head of the u.s. financial could protection a posture pledged that has been decried by many of the customers overseas. said he would continue to make sure the bureau enforces consumer protection laws, but added they will not assume the bad guys are the financial services firm they supervise. he attributed that to the democrats.

positive for the american economy? >> yes. h: does it mean at some point you might actually at least for any plans here start paying your workers more? >> well, the fact that it is a very positive event makes us a review the perspective for the year 2018 even further and with this, decisions will be made in consequence. it's too early to say what we're going to do but without any doubt it's going in the right direction. trish: it's amazing company after company hundreds have come out said we're going to give our workers a bonus, we're going to raise the minimum wage at all of its stores to $11 an hour providing up to a thousand dollars in bonuses and that's just as i said one of hundreds and they're saying it's because of tax reform, that they're able to do this. the fear among some ceo's was that the companies would horde the money and we would see a lot of share buybacks and dividend plays and that it wouldn't actually translate into much for the american worker and yet already, knock-on wood, it is. do you expect that to con

economy. uber is the poster child for the gig economy. bought a share in it, it was worth $68 billion. i think there is a wider question here, which is, what does the uberisation of the economy mean? the chancellor tried to future—proof the economy against the growth of the gig economy. he tried to increase the national insurance on self—employed workers, there was a massive revolt, he had to climb down, it was embarrassing, but it is a massive problem for governments around the world — how do they deal with changing nature of work? do you pick up any of the kind of anger and fear that they have been disruptive by black cab drivers here in london? i talk to cab drivers about uber, they give a very different opinion, what do you make of that? when tractors were invented, people that were pulling ploughs — not that people pulled ploughs — but they were up in arms, "these tractors, they've come and taken our jobs." every industry's been disrupted at some point. are you worried that self—driving cars could come and take yours? yeah, exactly —

will it help or hurt the economy? >> thanks for being here. we appreciate it. first and foremost what we wanted to accomplish we want to provide to tax relief and then to use in the global landscape and we want to simplify a cumbersome and outdated overweight with a special interest. i am sure you know what i am talking about and with the business side with the developed world and in the previous tax code then to make us the highest corporate tax in the developed world. to encourage economic investment and certainly as they come into the schools the world is a lot smaller than it used to be. and a lot of thought goes where we want them to locate here in this country. so creating this environment with aggressive deregulation to take the brakes off the american economy. and to think that would encourage businesses and to discuss the profitability with wages and opportunities and we are starting to see that and then to see a lot more of that with that optimism with just the announcement leading to over 100 businesses already. and that is why bonuses or those that a

help tighten the canadian economy? canadian dollar risesweakening of against the us to slow down exporting on the margin, but it is not the most important effect. the most important effect to canadian exporters is what is the growth rate of the u.s. economy? the exchange rate matters, but it's not the main thing. back,nie: when you look do you think we are focusing on the right things in davos? when you talk to people, do you feel like they are being complacent? do you get a sense of precrisis feeling of complacency? stephen: not really. it's not that long ago that we were talking on the about crises. in fact, if the first down both i have been at where we are not talking about either a rethink or next crisis. i think it has given us through to talk about more fundamental things, which is helpful. stephanie: do you think the presence of president trump's margin make the meeting today more interesting or be a distraction? we have had people hanging over the balconies. stephen: i have seen that. i guess i am expecting a l

>> posted a form that looked at a variety of issues including the economy, access to health care and national security. everyone can find a seat. i want to welcome everyone. i'm the director of the coalition outreach here at the white house and i want to thank you all for attending. this is a continuing series we are doing listening to the women in america and having conversations learning what concerns you and how the administration can come front and solve them we care about 100% of the issues. you can pursue whatever life you want to, whether that is a stay-at-home mom, pursuing a full-time career, going into public life or becoming a caregiver, you should have the opportunity to pursue your dream and that is what we hear want to encourage you to do. we are going to be listening to all types of people today which concerns on three panels. second we will talk about healthcare and opioid sandblast, national security and public policy, everything of which concerns you and your everyday life. we will be looking at the international perspective in foreign policy but right now i would lo

the position of fed chairman is integral to the health of the u.s. economy. washington must empower the american people to create prosperity through sound policy that gets the government out of the way of workers and job creators. jay powell is up to the task. i was proud to confirm him yesterday. the senate advanced the nomination of another highly call fied nomee, alex -- qualified nominee, alex azar. mr. azar discussed his intention to confront head-on the opioid crisis that is hurting so many families across the country, including in my home state of kentucky. he made clear that he will place an important priority on education and enforcement to halt the advance of the scourge. but he recognizes that we need effective, compassionate treatment options for those seeking recovery. for all americans he will work to expand access to high-quality affordable health care options. his distinguished record including prior h.h.s. service and private sector work shows he is the right man for the job. it is vital that this department be headed by a leader with mr. azar

of the new economy. when we think of the new economy, we quickly think of companies like alphabet, google, facebook, and the like, and indeed, they are thriving in the new economy, but every single , all those companies, not just digital companies -- all companies need digital know-how. we are not producing enough of those here. oneident reif: -- tom: rationale for all this, as you know, is that this gives american workers a better chance at these better jobs. without the crackdown, would american workers be displaced? is that a problem? president reif: there is clearly a problem with displacement of workers in the new economy. there is no question about that, but that is the function of the new economy. it is not a function of the fact that we have immigration right now. tom: if you cut those skilled workers off from coming in, don't you solve the problem? president reif: we would have a problem anyway because the problem is about free training the workforce of today to understand and work in the new eco

. >>> and apple says it will contribute 3$350 billion to the u.s. economy over the next five years, and pay some $38 billion in repatriation taxes. >>> good morning, everybody. it is thursday, we had another record breaking session in the u.s. with all three major indices making gains of more than 1% during the session let's look at the picture in europe and see how things are trading there. we're off to a good start as well not as strong as we were about an hour ago, but still trading positive on the day, up 1% or so, that's a far cry from the plus 1% gains we saw across all three major indices in the u.s the nikkei coming off its 26-year high, down 0.4% in the session. let's switch to european indices. ftse is lagging a bit, down 0.2% this is while the macron and may meeting is taking place. we'll get there shortly. willem is there. cac cac is in the green, and xetra dax leading the charge it's a big day for germany there's the bundesbank imf meetings taking place. we heard from wideman and we'll get into that. switching to sectors, the leader this mornin

we just heard deirdre in new york talking about the economy, the markets today. for a president who touts the markets, when you see a big head like, is it a dangerous thing to tout the markets as much as he does? >> the president will recap that it's been a tremendous year for prosperity and security. there is no mistaking that the dow jones still over 26,000 made many record highs owing in large part to the centerpiece of his economic agenda, his tax cut but the regulatory framework getting online. not being so burdensome. energy development you've seen, i think striking at the heart of obamacare. 30 million americans still do not have health insurance post-obamacare. repealing the individual mandate is part of the tax plan. all that is leading to untold prosperity and not just in the wage increases and bonuses and capital investments you are saying from 275 companies and employers but also in people's retirements securities, 401(k), pension, educational investment investments. he will continue to be able to his house and economic record and prosperity that's ve

the economy is roaring. 1,000 points in a week. we could be hitting 27,000 points in the market. 90% of american workers are going see a pay increase in their paychecks in february. this is one thing where republicans better figure out how to message this and do the fundamentals. there are concerning signs. virginia 13, virginia 50, new hampshire 4. oklahoma, 46. republicans lost sometimes by thousands of votes. we have our warning signs. we better be prepared to make sure is there not a blue wave in the fall. charles: the house is recessing until 7:00 p.m. it's a high stakes game for both side. the september 22 continuing resolution had a fair amount of democratic support. if the stakes have grown and daca is what the democrats want, they would have to answer for the government shutting down, wouldn't they? >> their message is tough on shutting the government down. even people favorable to daca don't believe it's favorable to shutting down the government over. there is a lot of anti-establishment sentiment. a high level of distrust

outside and based on what i know the russian economy has not successfully transition to reliance for growth other things other than the oil and gas as much as i would have thought a good reform board and i think convincing people that would in my guess be the way to go because there is a future. for russia as everybody else does that depend on just the of those threats well i. and if the united states is actually lending a helping hand and in that persuasion war and because you know that there is a new round of sanctions to be targeted sanctions to be introduced against powerful russian individuals and i think in russia it is a problem we have a problem of privileged access and. certain individuals well connected individuals just sit on that cots and enjoy the status quo perhaps limiting opportunities for everybody else do you think. the american factions could provide some silver lining in that founds of sort of spurning the powers that be towards i don't know who's i don't know enough either about i have to follow that closely what th

look, opinion, public opinion on the economy is pretty strong. he past a president's approval rating tracked with that. it's not doing so for donald trump. what would it take, put your analyst hat on. what would it take for donald trump's approval rating to rise with the assessment of the economy? >> well, i think, i think that's a very loaded question there. look, i had i it's the divisiveness that he just brings to the table when he talks especially you look at his domestic policies, when you look what he's doing with the lgbtq community, the muslim ban, what he's doing with repealing tps and daca. all of those things actually play and affect his approval numbers. if we go back to even november, if you look at virginia and alabama and some of the other races that we saw last year, there was -- there was an energy there that we were all shocked that was there. it was like that resistance was electrolized and very much a referendum on trump that we saw in alabama in many particular and in virginia, one of the morning issues that came out of virgin

there was a hit to the us economy, but not really material when he think of the size of the economy, ts coming in and potentially more infrastructure spending. the us economy doing well, this is a bit of a road bump. explain what it means for the day—to—day, what does it mean for people in the us? it cuts back nonessential spending. that might be parts being closed, it is not defence, not health care. the statue of liberty is shut? the new york mayor is trying to get it open. the people that were not going to work today, in theory not being paid, they have actually been paid historically for lost wages. it does not necessarily produce a lasting hit to people that have been sent home. i would love to see if the people that are not at work have gone to have lunch somewhere, you get a weird boost? if you have been through this before, if you expect to be paid, you might have a nice day. win- win! we are expecting this german deal to be signed, seemed and delivered. what kind of knock—on does this uncertainty? think it is holding back a lot of the progress that people want to make in the

the long run just briefly how healthy is the chinese economy in your view i would say that the chinese economy is healthy as a whole but there are some very serious problems particularly the problem with with debts and you see that the. whose economy is not utilizing credit in a very efficient way so. incremental g.d.p. has been generated for one unit one additional unit of credit has been decreasing steadily ever since the financial crisis ok so there are some clouds on the horizon . economic analyst at the institute for china studies thank you so much thank you for having me. and that brings us to the end of business update here on d w i'm going to get john's thanks for keeping me company and don't forget to take our defeat from we'll see you soon. going to. europe. unite. to find. what binds the continent to our goal right answers and stories of. spotlight on people thank you thank you tony w. . entered the conflict zone fronting the powerful. this week mike. esther's gregor the former israeli government spokesman. says that . since two zero six jerusalem. sixteen. my first

the united states economy is doing quite well. the japanese economy is basically ok. european economy is beginning to recover. in terms of the cyclical recovery, the americans are way off the block by a long, long shot. rishaad: usually the case. andrew: they want to be secret nice but no they are not. in china, they flattened out test 6.7 and it went up -- to 6.7 and that went up. rishaad: come on. strong growth. andrew: that is another argument. i am sorry. i'm not looking at the cyclical recoveries. now i'm talking about the four major markets in the world. this is fact, not opinion. i am not saying in two year's time, this will be happening. it is with a pinch of salt. the interest of the high interest rates in the united states will have very little impact in asia. the notion of that -- rishaad: but there is. economies are tied and wedded to the dollar, ultimately. andrew: good god, no. that implies they have a specific policy but they do not. look at the chinese. s, strengthens, weaken stays flat, then strengthens again. rishaad: one of the big things of course i

at least as you saw on the day yet the economy going to. see only and the most are going to go up if he's going to dog me. down you could have a pull to be the sort that is going to say they. said to new york city's welcome by the people. out of it with the wad of good people with you although i draw a choice. did begin for the rest of kilometers i mean to follow me go to school pray killer going to me of a day job if you didn't live you don't mean it can be beautiful be going. down when the wall. going to be lit. but is it true that the national debt is a problem. probably. you know make them move forward. because the man is that we need to mention is that all of those only you know yeah yeah they were on that plane that impresses the dog out of phase with the politically i mean a camel. problem or that. it would become an economic after they sold the carry out to the new they immediately the man you did with the would go america and the with the with the google of. course so that it quite put a sovereign currency is a currency that is unde

in the economy has lasted over 60 months. this is the second longest boom in the postwar era. going forward, japan's economy is likely to continue its moderate expansion. from cycles from income to spending is expected to be maintained in both the corporate , as well as household sector. on the price front, annual consumer price infractions, fresh food, has been approaching 1%, but has remained slightly positive, excluding energy prices. in japan, strong economic recovery and relatively weak more than inout the u.s. or europe. however, we think that the output gap is further improving under labor market conditions and are tightening. while consumer prices are likely 2%, thease by deflationary mindset and change has been more tenacious than expected. therefore, the bank of japan will continue to support japan's economy and prices by pursuing persistenceing with under quantitative monetary easing. risks in theious short to medium term. but from my perspective, they are mostly external, including some geopolitical risks. >> can i follow up on one question because it is an issue th

the economy the government stop importing greek since last month hoping that it would create competition between private companies and bring down prices but bakeries say they have raised prices due to a shortage of flour. the government says flour is subsidized by ten percent and they are saying we will remove it next month was one hundred sixty and next month it will reach five hundred fifty pounds and that's an increase of three hundred to four hundred percent. yanno beamin is really in the price might be ok for me but not for other people some families couldn't even afford it when it was one pound. in line with recommendations by the international monetary fund subsidies are being eliminated sudan recent be devalued its currency and now the dollar is worth eight hundred sudanese pounds instead of seven last year the us government east financial sanctions against sudan which led many to believe that there is an economic boom on the way. because the sanctions ended were please begin to rearrange our lives but we are certain prized that life is getting worse some say there was too much e

just more about the economy, the tax cuts, the improving markets. something the president consistently talks about whenever he can. with us right now, joe manchin. senator, i was thinking of you when he talked up the economy and the markets and everything else and the tax cuts that seem to be bearing dividends from companies like starbucks today and better than two dozen of them benefitting 2 to 3 million workers and better bonuses. do you regret your no vote? >> no, no. i'm hoping it works. i'm hoping i'm wrong, neil. i am. neil, all i have is history to work off of. i worked off of ronald reagan. we all loved him. we worked off of him. he started in 84. he got something done by 86. we had everything to look through. they started with revenue neutral. now we all know what happened after that, neil. things were wonderful. it was great. he started with revenue neutral. and by the time we got to 1990, 91, read my lips, no new taxes, george h. bush had to fall on the sort because the economy dipped and started changing. he had to raise taxes to keep th

job figures have not met market expectations the economy only added a modest one hundred forty eight thousand jobs last month that was well below the full cost analysts say jobs growth is slowing down as the labor market is full employment the unemployment rate is still at a seventeen year know the good news for american workers is that wages are increasing analysts expect the economy and the labor market to benefit from the corporate tax reform despite up the dollar trim gains on friday against other major currencies well the white house has announced it wants to open almost the entire u.s. coastline to offshore drilling music to the is of energy companies several coastal states have already vowed to do whatever it takes to stop it happening. the five year plan calls for forty seven new offshore leases opening waters that have been off limits for decades including areas off the california and florida coasts is a move that the u.s. interior department says is in the nation's interest but it is a clear difference between interview with mitt. and under president we're going to have the

is just the math of how economy grows. rt is population growth, working population growth, and part is productivity growth. a lot of other countries are dealing with this. that is white emerging markets grow so well. have the younger populations, germany, japan, these companies -- these countries don't have growth like us and you need outside growth in your population to get there. this over the course of past weekend people have been asking, what is the united states now at heart? the phrase that comes to my mind is bring me your tired, your poor, your week, your restless, that now people are saying maybe we are beyond that and we need to bring in the rested, the rich and the smart. what are your thoughts on that? lakshman: that is a huge question. it is hard, the idea of competition. having a certain edge up, but having some true competition of ideas and performance. these are all really important things that have surfaced very well, and probably -- serviced very well and will probably service well in the future. i think

perspective, i think we have to realize the u.s. economy is part of the strong global economy now. no longer importing disinflation, either in terms of weak foreign demand or a stronger dollar. that does change the equation as to what solid growth will deliver in the u.s. from the inflation point of view and the fed over the next couple of years. >> when you see those headlines about tariffs being placed on washing machines or solar panels, does that kind of raise a red flag in your mind if we did see more serious protectionist action from the u.s. president >> i think it does raise a concern. so far we've been seeing incremental action that's what we were expecting and have built into the forecast if we start to go down the road of something far more broad based, retaliation, particularly if we begin to take apart nafta, i do think that can change the macro outlook. right now it's a risk. it's not in place, but it's a risk we're concerned about >> bruce, thank you very much for joining me bruce kasman of jpmorgan >>> eu antitrust regulators slapping a 1$1.2 billion fine on qualcom

they will contribute $350 billion to the u.s. economyive years joining us is wall street's top apple analyst of bernstein toni, thank you very much for phoning in. >> sure thing. >> the only thing they state is they'll pay the tax repatriation payment of $38 billion is the assumption they'll bring back their cash and cash equivalents? >> we believe that's the case. it is important to note that u.s. companies -- this is mandatory. u.s. companies have to pay 15.5% on all accumulated foreign earnings we were expecting a large payment from apple it is possible it could keep some of the cash offshore. given that apple generates most cash offshore each year we believe it will likely repate rate pretty much all of it >> we were saying maybe it's a smart thing for apple to make the payment and bring money back in case tax law changes and the window closes. you're saying once they make the payment the ability to bring that lump of cash back, the $252 billion, they can do it even if the tax law changes because they made the payment this year >> co

are the shocks in the indian economy in the last one year the economy is facing a real crisis and this crisis is embedded in from the an organized and its impact on the impact of the g.s.t. and of the demarcation on the organizing and that impact has been felt by people in darby. as eamon tells us that seven hundred small businesses here have shut down already he himself had to take out a loan to keep his business afloat he sees the reforms as a failure and the government promised that prices would go down and people would profit that didn't happen it now costs for cooking is twice as expensive. costs are increasing but not wages it's a difficult time for. the government insists things will improve. where the voters share that confidence will become clear in the next parliamentary election in twenty nineteen. social media companies in germany will have twenty four hours to take down a legal material from now on if they fail to remove hate speech or fake news for example they could face a fine of up to fifty million euros a post. critics fear the likes of facebook and twitter could over

i was optimistic one year ago, perhaps even two years ago, about the us economy. momentum in 2018. what is encouraging if it is notjust the us economies around the world are in the best place in a while in 2018. 0n the other hand, the state of the discourse in the us, the divisiveness, it remains extremely challenging and in many cases concerning. so, the economy feels pretty good. 0ther concerning. so, the economy feels pretty good. other parts are quite challenging. he has managed to get through some changes, for example, us tax reform, which some argue is critical for the us economy and will hopefully spill over into the global economy in terms of growth this year. you mentioned the frustrations and the stalemate on capitol hill. what has he got right and what has he got wrong? i do notjust and business, but other policies.|j deeply believe, and perhaps it is just business people, we are stronger when we moved together. we need more consensus across stronger when we moved together. we need more consensus across the spectrum. we have been dealing with divisivene