been 20 years ubs has been sponsoring this event.art with something related to this part of the market. alternative investments, inc. particular the art -- in particular the art market. we had a huge surge in interest from the mainland chinese buyers. how is the market demand given that we have had this well reported clampdown when it comes to capital coming out of china? first of all, good morning, great to be on the show. there is a long debate whether art is an asset or not. as far as i can tell, i would argue it is still a passion field. obviously our engagement is a privilege. it is an honor. we have been doing this for many decades. to be here in hong kong and be part of this class event is phenomenal. we use it as a platform for clients. you can see there's more and more interest in art, maybe even as an asset class. i don't think it is correlated to china money getting out. i think it's more about the tosion field and people want display and benefit from galleries that display some of the best art in the world today. absolute

he remains the highest paid executive at ubs.nghouse electric is said to have hired a person to advise restructuring the business. that is according to people with knowledge of the matter. this appears as westinghouse appears to have been assembling a team of lawyers and advisers. a representative declined to comment. the ceo of search giant baidu has warned a trade war between the u.s. and china would hurt both countries. >> i think trade war is bad for everyone. it is so clear. arele, or politicians, using that as a bargaining chip to get more. they understand, it is going to hurt everybody. i don't like that. havepeaking of baidu, we research facilities in the u.s.. we provide jobs. we pay taxes. we actually don't have a lot of revenue there. it is something that happens. we are not the ones who get most.he juliette: the bank's directors have sent a draft to authorities in hopes of obtaining approval. they did not give details of the proposal. -- authorities will adjust the framework that homebuyers can borrow. and that is you

the ubs investment bank president. we need to go to berlin. the e.u.eleasing its guidelines for brexit negotiation. the german government says it xill insist that u.k. -- ta something as part of any trade deal according to senior officials. for more insight into the german government stance, we are joined by michael fuchs, the deputy leader of angela merkel's christian democratic union. great to have you on a program. always a pleasure to speak to you. what did we learn in the last 48 hours? good morning. on how negotiations will go? >> it's going to start now immediately. we are very unhappy that u.k. 's leave. ing. fight going to have a big on negotiations. one thing is very clear and donald tusk made it very clear yesterday, the four freedoms are not negotiate able. there is freedom of movement of people, goods, salaries and services. these four freedoms are sticking together, and you can have it all or none. that makes it already very difficult to find a way through. then negotiations are going to start, too, because we only have two years time, bu

nley and ubs up to 1,500 jobs and morgan stanley around a thousand.eads up the city of london corporation admits further jobs could go, but how many? 2,000, if we kept the existing level of access to the eu, up to perhaps 75,000 if we didn'tand the eu, up to perhaps 75,000 if we didn't and that is a pretty hefty range and it rather indicates the brexit is rather more important in jobs and brexit itself. it may mean, of course, that the uk has the look to other markets in the future but london has faced plenty of challenges in the past. it still has a truly global reputation and paul and has proved resilient in the past. the rest of europe has been eyeing our financial services very enviously and so they are going to try and target ways in which they might be able to take a slice of our pipe. in my judgment, might be able to take a slice of our pipe. in myjudgment, ithink might be able to take a slice of our pipe. in myjudgment, i think that is going to be a fairly small slice, so is going to be a fairly small slice, soi is going to be a fairly small s

ubs denies wrongdoing and could face a fine of $1.1 billion.dafone has struck a deal to with idea cellular. it will create one of the world's largest telecoms companies. 45.1% of the own group. create india's largest telecoms group. at uber as the president quits after less than a year on the job. after manyn comes controversies at the company including charges of sexism and sexual harassment. founder had previously announced he was looking for a chief operating officer to guide him through these turbulent times. here's a piece of good news for you. the world happiness report has just come out here's and it turt that norway is the winner. >> the scandinavian country moved up from fourth place to first place this year, beating denmark. thend this ranking is sustainable development solutions network and the united nations. it takes into account a host of social factors which explains why norway is at the top spot. the nation has suffered from the global drop in oil prices put public services and political stability are still strong. the other nor

from ubs wealth management.ne months on from brexit vote, how is consumer spending holding up? we will bring you analysis plus earnings from retailers next. the second biggest clothing retailer in britain. this is bloomberg. ♪ ♪ terror strikes london, prime minister may says parliament will meet as normal today after an islamic extremist is shot dead after killing four and killing 40 westminster. >> the global stock selloff eases. >> the road to normal, the ecb takes one small step towards exiting stimulus with its final , but how big will be demand be? ♪ come to bloomberg daybreak. >> waiting for numbers from next. they reported their sales update and cut their profit forecast in january. 2017 how look will be the main focus of this up eight. -- update. held up, but has come off. we would discuss that in a moment. >> let's look at futures. little change in the u.k. after the ftse dropped the most among the three major european indexes yesterday. 40 and dache cac futures rising a bit. that ftse futures are littl

julian emanuel of ubs will be sticking with us.and jim bullard speaking with bloomberg. what you going to do with the balance sheet and when? jonathan: normalize it. 20 minutes away from the opening bell. s&p 500 down by 1.36%. the biggest weekly drop. yield up the boards -- unchanged on the 10 year. $1.08 is what a euro buys you right now. some significant upside surprises on the continent. we will get to the u.s. versus europe sentiment with julian emanuel in a few moments. you are watching bloomberg. ♪ ♪ jonathan: nine minutes away from the open. you are york city, watching bloomberg. futures are firmer. a squeeze on futures after a week of losses on the s&p. the biggest so far this year. if you switch up the boarding get to the euro, here is one of the trades. $1.08 and parity and squeeze higher by a few percentage points. let's get to julian emanuel of ubs. the upside surprises in europe continue. the pmi data is firm, firm, firm and a solid. but equityituation situation for your versus the u.s.? julian: when you look at europ

you mentioned ubs earlier. there is also ing. what do you see in the likes of state street that makes you bullish? david: it would be bank of new lookingthink you are at. bank of new york is more of a processing bank, rather than a traditionally leveraged banking business. is ahat we see there business that is a business that has a very strong franchise. need to improve its underlying operating margins. and as a result, what we are looking at today, in terms of evaluation of 14 and 15 times earnings, is closer to 12 and 13 times earnings, which is not reflective of the quality of that business, relative to the quality of other more traditionally leveraged institutions. vonnie: the other company i wanted to point out, because it has been in the news -- samsung. you have been bullish on samsung for a while. other charts we have in our library shows how much analysts have valued this stock at. it is roughly 17% undervalued. is that what you would see for samsung? david: i do not think that that valuation is far off. the thing i like

my name is sonny and from want ub party and strongly in support of this. obviously developers -- any affordable housing developer or any developer is still free under this rule to participate in the public process but they have to raise their money themselves just like the rest of us, you know. we have to raise money from people that agree with our mission so any affordable housing developer can still do that even under this restriction. absolutely it's the case that public money should go for what the public thinks it's for. thank you very much. >> thank you very much. anyone else to comment on item 1? seeing none. public comment is now closed. [gavel] again colleagues supervisor tang there are a number of affordable housing developers and most in san francisco that do great work that we work closely within city hall and communities to expand the housing stock. i want to commend the work mo doc does and welcome to the team and money should be for affordable housing only. if they want to engage in political speeches as mentioned in public comment they can

joining us now is julian emanuel from ubs. good morning to you. thanks for joining us.ing things so tied to what the bond market is doing. are there some hedges? some derivative strategies you're telling clients to do? this is a period of digestion. we've come a long way since the election. we're at valuations, if you take the bubble away of '99/'00, you're at the highest valuations. so this may not be a soft patch in the economy that we're pausing. we're saying, "a," you need patience. you shouldn't be fully invested at these valuations, there's likely to be a selloff. if you want to protect your portfolio, puts are attractive here. there's a number of ways. >> likely to be a selloff. how likely, how big? >> if you look at it, it's already begun. march is sort of the first down month of the new year. we're thinking 5% to 10%, nothing major. just really a risk reset, simply because, again, there are some uncertainties and actually we were encouraged yesterday to see the markets stabilize in the wake of, you knower t, the news had on friday and the healthcare bill. that

earlier this evening, the gridiron club held its annual dinner and washington, d.c. 1885,ub was foundedit's 65 active members were present newspapers, services, and broadcast networks. it is a white tie affair closed to cameras. it has been known to features at your cost gets of the media and politicians from both political parties. president trump did not attend but vice gathering, president pence was there. other guests included veterans affairs secretary david chilton, senators shalimar capital and joni ernst, and house minority leader nancy pelosi. here's a look at some of the arrivals. >> c-span, where history unfolds daily. in 1979, c-span was created as a public service by america's cable television companies and is brought to you today by your cable or satellite provider. trump presidential campaign manager corey lewandowski talks about the first days of the trunk administration and shares stories from the 2016 presidential campaign, hosted by the new hampshire institute of politics, this is just over an hour. >> good evening, thank you all for being here. on behalf of the facul

he is the head of economics at ubs in london.ng to tom setting the scene, we want to wake for the details. have you join the -- grow the chinese economy question mark the risk that they come in with 6.5 down from seven. would it be that surprising? that is the question. >> no probably not. we can cut it to 6.5 rather than 6.5-7 last year. expecteding of growth but pretty modest. nominal growth around 8%. have is that that followed by using fiscal policy to support the economy and keeping monetary policy where it is. we don't think the rate changes this year. obviously adapting to circumstances in the u.s. and seeing how the u.s. dollar trades. some saying it might be wise to bring that the dollar down. what happens to the currency? it was quite a preoccupation from 2000 16 and 17. quite quiet on the china front cents. i was reading comments from the manager, he was saying if you're talking -- you're looking backwards and you should be looking forwards. what are your thoughts? >> we think it weakens 5% this year. a target at 7.3 a

lloyd's, deutsche bank and ubs all down, but banking still up 16% since trump's victory.sector getting hurt are the miners, they're down sharply in london. glencore among names pulling back. may find it difficult to push through on fiscal stimulus promises specifically on infrastructure, glencore down more than 4%. policy will also be a big discussion today. uk prime minister theresa may is meeting with nicolo strjurgeon pushing for referendum in opposition brexit. wednesday kicks off the two-year process for the uk to leave the european union. in a speech earlier today the prime minister said she wants brexit to lead to a more united nation. look at the pound since the brexit it's down over 14% but again enjoying a bit of relief today higher by nearly 1% against the u.s. dollar. wilf. >> seema, thank you very much for that. let's get back to u.s. markets. this morning's selloff right now bob pisani on the floor with all the details. >> hello, wilf. if i stand here long enough we may go positive. we've been down 23 points in the s&p, now only down six. a lot has to do wit

the government has accused ubs of deceiving investors and ubs may go to trial if the federal figure exceedse swiss bank thinks is reasonable. let's get a check on markets. special focus on health care. julie: the topic du jour for sure. the health care etf is down .5% today. some of the individual components are not much changed considering we got this big news today with this introduction of the health care bill. let's take a look at the components here. we have the largest insurers which are little changed today. one reason why is that this bill is seen as a starting point. the end the end details are not entirely clear. also, there were no big surprises. companies do have exposure to medicaid but not as much as -- second individual mover some of the companies that have higher exposure to medicaid, some of them are doing worse. tent's not a consis eaction in today's session among these companies. look at hospital stocks, there's a bit more uniform -- hospitals down across the board today, being led by community health. the company announcing a bond sale. community health down by 8%. unive

two weeks ago, ambassador haley once again responded to an attack in israel demaendinding that the ub ot rp. her action had impact soon after the secretary general required retractions of the report. [ applause ] following a u.n. security council meeting on the middle east. ambassador haley came out to the past and articulated some same truth. the discussion today of the middle east, was not about obamacare. it was not about the money and weapon that it was provided by terrorists. >> it was not how we old bashar al-assad contractible. >> ambassador haley said, instead the immediating focused on criticizing israel. the one true democracy in the middle east. [ applause ] [ cheers ] she closed by saying, "i am here to say the united state." will not turn to a blind eye to this anymore. >>. [ cheers ] i think you would all agree that this is been a pretty refreshing change. [ applause ] . >> please join me and welcoming the asian of that chain and the united states ambassador to the united states and honorable hick nick ao nickeyy anyw-- the honorable un states, nikki haley. [ applause ]

ubs is extending charges to markets customers. largest of manager has introduced a chart of .6% on euro denominated accounts with cash holdings exceeding one million euros. ubs is among lenders grappling with the headwinds of negative interest rates and introducing -- to the clients. some banks started charging clients depositing large amounts of euros rather than paying interest. have fallen in after-hours trade after posting sales that trailed estimates in the third quarter. rose last quarter. lessis about $40 million than what analysts expected. nike is losing market share to under armour and adidas, especially in the u.s.. nike shares have also fallen by more than 10% in the past year while the benchmark s&p 500 has risen 14%. ibm's ceo has highlighted its china, and the changing american workforce as key growth opportunities for the company. she sees new government policies under donald trump supporting that view. >> the current administration absolutely understand and sees workforce development are important things so i am p

david: the president of ubs wealth management spoke earlier.na is obviously one of the key markets and is here to stay. there is a large fundamental trend on wealth being created, and we want to capture that by going on sure. owne markets have their dynamics. we felt looking at the china equity market that there is more potential and we think the valuation gives more room and there is a secular trend from growth. we are long china. would be the biggest concern voiced us by your clients right now? much should geopolitical risks do we have. how much will the rally be sustainable? when you look at the clients institutional clients have been cautious, and people question whether this will be sustainable. >> there are very few options for diversification in the chinese market and that's why everything has been cyclical. what sort of options do you see. is that inevitability driving the fact you are overweight on china equities. i believe china is a strong plenty ofconomy with opportunities. within the china context, it is important to use all asset

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are you making an assumption at ubs that we will see a hard brexit? i think what we need to do is we need to manage risk and we be prepared for every eventuality. in terms of planning, we need to look at these options. the key is not to take a certain position. the key is to maintain as much as we can option out a -- optionality. we do not want to take decisions that we will grit, but we cannot afford to wait on decisions until all the political dust has settled. the key point will be the triggering of article 50, which makes the exit of britain unreversible for the next few years and then we will look on be thatful we can market access from britain to european markets will continue. i think it is not going to continue on the base of the old arrangement. a britain needs to have a completely new arrangement with the e.u. any grandfathering is not in my expectation and we really need to understand what the new arrangement will be. it will have to be a new service and a new trade agreement with the e.u. those things take a long time to negotiate and what

the forecast from ubs wealth says the u.s. dollar is 15% overvalued.ing up with the same conclusions. this currency is too strong by any historical standard. this leads to the other question , how does that position the fed in terms of rate hikes? so again, from our perspective, we also do see that from a valuation perspective that it looks a little bit overvalued if that is 15%. think will what we be the driver for the u.s. months,n the next 6-9 the interest rate differential, so if the fed will hike 2-3 times this year, we think this would speak for a further strengthening of the u.s. dollar .n particular versus the euro you also have to take into account that there are some specific european risks ahead of us, in particular with elections in the netherlands and in movee, so this might also some european investors out of euro into the u.s. dollar. in thedespite the gains dollar recently, broad gains in the dollar, we are seeing the japanese yen paring back losses. in fact, unchanged at the moment, 113.88. people seem confused about the direction of t

ubs puts total expansion closer to 16%.d davies said the credit growth is the biggest risk to economies globally. a disruption in the chinese banking system would be "very worrying." he is confident beijing is equipped to manage the risks. >> ultimately, the finances of the chinese state are very strong. worrying is low. there are probably more bad debts in the banking system then we are currently seeing in their accounts. rosalind: global news, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. >> thank you. with cloudy picture outside, we'll see how the markets are feeling this morning. we go to sophie kamaruddin with an update. sophie: i want to focus on what is playing out in north asia. we have china using its economic power to express its displeasure with south korea. china has suspended approvals for gains made by south korean companies. stocks socks -- gaming falling. the kospi marginally higher here. we have seen that shadow of geopolitics play out in south korean markets

john rathe from ubs. >>> daimler is extending its drive into electric vehicles. speaking to nancy at the ja noo geneva motor show, they are confident to mercedes holding on to the number one carmaker. >>> we are heading into a break. more from the motor show after the break, we will also talk commodities. world markets live, that's our blog. take a look during the break. we'll see you in a second. >>> at least the first two months, with 15% sales froth versus a very strong 2016, very encouraging. so, i would say my expectation is yes to your question. >> your forecast for sales going forward has not rattled some investors. is this a mercedes slowdown when you look at sales growth going forward due to strong momentum of late or an industry new normal? >> we were very much in line with other people commenting on markets and prognosis for this year. we have grown by 50% in china, europe 10% over last year. we are very strong. we have no reason to believe momentum would slow down. >> you told us before it's too early to tell how you should change strategy based on th

cut -- letter ubs has cut -- nearly $13 million last year. he largely missed out on the 2016 trading boom, which has seen its competitors bump in profit. and two airports have been hourled after a toy five strike. -- a 25 hour strike. several hundred flights were grounded, stranding several hundreds passengers. the entrepreneur elon musk says he can fix the power shortage that has caused blackouts in south australia in 100 days or less. the boss of the electronic car from tesla, but he also founded an energy car firm, solar city. they can install it battery storage grid which can handle between one and 300 megawatt hours of energy. that would provide the after capacity needed. when challenged, musk says he and if he serious failed to do so in 100 days the entire service would be free of charge. is that serious enough for your? -- for you? anchor: thank you, i will be back with the headlines. ,,?ghqxÑxÑxÑxccxqqaxúaueex 03/10/17 03/10/17 [captioning made possible by democracy now!] amy: from pacifica, this is democracy now! as president t

and they say even though the raccoon ask is physically okay, the raccoon came back with an ub healthy attraction to women's breasts. >> they never named the company they contracted with. >> the zoo filed a lawsuit, but when reached about this, the advertising company said that they may file a b countersuit and ask for damages because the raccoon ruined the woman's bra. they said the raccoon -- the ad company says the raccoon kept running under the bed and hiding and e venventually tore up the as you can see. >> this is a hot mess. >> they have been in court. the judge did not rule against the zoo. the zoo justen didn't the their animal used that way. they said they were never told it was going to be used for that and wouldn't have agreed to it. >> huge missed opportunity. whatever this ad was supposed to be for, they should have put a low go on it because the video is out and it's ridiculous and we don't know what it's supposed to be advertising. >> you're right. > >>. >> the traveling stunt team, these guys are incredible. williams is the guy highlighted in the owe. . it's the last s

ubs has reduced its bonus pool by 17%.hief executive have his pay cut slightly to $13.5 million, the profit plunged and they had to restate that income to reflect an agreement to settle a legal case. mexico,king a push into the british energy company says it will develop as many as 1500 gas stations by 2022. they plan to buy its fuel from the state on oil company and other clients. vonnie: time for our bloomberg quick take her we provide background on issues of interest. in 2009, brazil announces biggest oil discovery, calling it a passport to the future and awarded the 2016 olympics and the 2014 world cup. fast-forward to today and the economy is reeling from recession, with government and business officials ensnared with the petrobras construction broke -- corruption probe. their currency and stocks rallied after the president took over as last year. sentiment in recent months took a downturn as the president is plagued by corruption allegations. the imf cost brazil outlook by more than half, two cents of 1%. the preside

to explore hired ubs the potential sale or ipo of its in its energy company.ll its finance arm, but will retain a share of future profits. it is part of a $2 billion deal to create a strong rival to nt financial. shares rising 6% in new york, the biggest gain since november. reports from japan say foxconn may sell a stake in sharp. one person could be offered to clear the way for sharp to return to the tokyo stock exchange. they control 56 percent of the company, at the 35% must be available for public trading. sharp was to return to the first section of the tokyo exchange this year. china's political if he will reveal their economic targets on sunday at the national people's congress. for us,enzie is on this and what is on the agenda? you know about this one. the key question for many will be what policy makers say about tackling the growing pile. we know that china's debt to gdp is around 270%. we know bank assets are around 312% to gdp. we have heard them talk the talk on this. will they say anything that suggest they are prepared to walk the walk as the ec

robert wolf is former ubs of america ceo. is goldman the first of a big tide?t wolf: listen, i think that when you run a company, you have to decide over the next two years, while they're make their decisions, you have to make your own decision. the one thing about having uk headquarters is the ability to go anywhere throughout the eu. you know, it was great for recruiting, great for costs, there was regulatory environment, which was really able to go and do business anywhere 24/7 across the continent, that's all changing, when that changes, you have to make new decisions. liz: well, versus a place in london called canary wharf, isn't that all the banks are clusterred? robert wolf: most of them. liz: what's wall street going to be like if the banks are leaving? robert wolf: and you i have talked for a long time, countries have monetary policy they have to live by but not a fiscal policy, something's got to give. now it's given, the first is uk, maybe greece and others. liz: scotland wants to stay in the eu, so does ireland possibly. robert wolf: specifically wi

are you making an assumption at ubs that we are going to see a hard brexit?eed to manage risk. we need to manage tail risk. we need to be prepared for every eventuality. in terms of our planning, we need to look at these options. the key for us is not to take a certain decision. the key is to maintain as much as we can, functionality. we do not want to take decisions that we regret, but at the same time we cannot afford to wait with our decisions until all of the political dust has settled. for us, a key point will be the triggering of the article 50, which in that point makes the exit of britain almost an unreversible trajectory for the next few years. and then we are going to look very early on how full -- hopeful we can be that market access to european markets will continue. i think it's not going to continue on the basis of the old arrangement. britain needs to have completely new arrangement with the e.u. any grandfathering except for a short transition time is not in my expectations. reporter: how likely is it we reach an agreement on the basel iii agr

fiotakisck with themos of ubs.he markets will watch is the fact coming up.e the g-20 this is one of the first times the trump administration will be faced with chinese officials. how will they dance around the language of the currency manipulator? themos: that is a difficult question and one that is central to markets. there are some senior members of the trump advisory group that have been in favor of a hard stance for china. mentioned that he has to be thoughtful in how he deals with china. ofditionally, these kinds extreme pressures and actions have avoided. the answer is we do not know. the markets are not necessarily prepared for a confrontation. francine: but is it a currency manipulator or political rhetoric? stopssay china intervening of the stocks, does it go down or up? themos: that is a very difficult question. chinesement is households and companies are under investment and global assets. a sickly, if there was a free-floating currency, it could -- the reality is this is managed very tightly. managed no

hsbc, ubs, and goldman sachs have all announced they will move hundreds of jobs to the continent and.p. morgan is considering a new office space in dublin, which could affect workers in london. >> moving onto some of the day's other business headlines now. folks like it has agreed to pay 150 million dollars to settle environmental claims. been given approval vehicles.ousands of environmental groups demonstrated outside the european commission outside the planned merger of the german drug company they are and monsanto. they are urging the european commissioner to block the deal called a marriage made in hell. it would make the biggest seeds and pesticis company if it goes through. qatar airways says it will offer free laptops to business class passengers traveling to the united states. it is one of the carriers impacted by washington's ban on carry on electronics. it said it would collect the passengers devices at takeoff but lend devices to the business class. brazil is battling a recession, a government corruption scandal, and most recently, a tainted meat scandal. the air sector is

ubs has charges extended to more of its customers. good morning and a warm welcome to bloomberg daybreak on this wednesday. i am jonathan ferro alongside alix steel. david westin is away today. let's get straight to the board. futures are softer in the united states. -1/10 of 1% on the s&p. a drop since october. the euro, giving us some of yesterday's gains going south by 1/10 of 1% and europe treasuries, down. dollar-yen, 1.11. down seven days, the longest losing streak in two months. it hase last two days been up by 15%. gold goes nowhere, just $12 in two days. you might have thought that. crude continues to roll over -- one and at 15 half percent. the republican health care plan is running strong opposition ahead of thursday's vote. joining us for more is kevin cirilli, our chief washington correspondent. where do we go in the next 24 hours? do the republicans have the vote? >> know they do not. the sources i am talking about inside of the house freedom causes -- house freedom caucus tells us there was a fight yesterday with presid

mike pence is calling the health care bill ub affordable care act. chris has more on that and the white house fence jumper today. >> reporter: the president commenting saturday after a california man jumped the fence at the white house hours before. >> the secret service did a fantastic job. >> reporter: the secret service stopped the intruder on the grounds. for trump, it was business as usual saturday hosting lunch at his virginia golf club for members of the cabinet and staff. >> the economy is doing very, very well and generally speaking, we're doing very, very well. we really had a mess. we had a mess. it is getting straightened out. it is getting straightened out fast. today we're talking about health care. >> vice president mike pence was talking health care in kentucky. the affordable care act, whatever it goes by, has been truly >> reporter: as pence spoke, obamacare supporters mr spoke. >> i want to wait until there is a better program for the repeal to happen. >> reporter: late saturday afternoon, trump won the showdown with the federal pr

ubs, one of the clients, actually was at the forefront of one of the scandals around some of the subprimeundling that was happening. i think this is something where it's critically important we have something we can enforce the law and take it seriously and enforce it aggressively. >> david, should democrats dig into this and does this candidate potentially warrant a filibuster like the supreme court nominee announced this week. >> i think you could filibuster many of his nominees. this is certainly pretty egregious. it's not surprising. i hate to say this. i don't want to dismiss the importance of this story but donald trump owed deutsche bank $300 million or maybe more. we don't have the details on his relationship w deutsche bank, while deutsche bank under investigation by u.s. and russian money laundering. picking clayton is the apple not falling far from the tree. this is an administration of either cronyism or you'll get to later nepotism. clayton is a wonderful poster boy and democrats would rightly try to, you know, make the public aware of that. >> richard? >> well, i think it's

jeff jones joined ub never september.ast week the company announced it was going to hire a chief operating officer who can help write the next chapter including allegations that it ignores sexual harassment. he what guided my career are inconsistent with what i saw with my career. >>> for $1,500 a month the programcovers ownership costs and lets owners trade in cadillacs up to 18 time as year. they're trying to attract young buyers who are attracted to european bounds. >>> and "beauty & the beast" was the big box office release this weekend earning $170 million in north american box office sales. the top opening. "kong: skull island" was second. >>> jill wagner at the new york stock exchange. thanks so much, jill. >>> still ahead, a rescue of a little girl during hurricane katrina come together again 12 years later. widespread pain drained my energy. my doctor said moving more helps ease fibromyalgia pain. she also prescribed lyrica. fibromyalgia is thought to be the result of overactive nerves. lyrica is believed to calm

no nr srina re wh ub. t >>> right now at 6:00, no longer sharing a ride with uber.he company now looking for a new president tonight. >>> and a big change on the way. we are tracking two storms headed for the bay area. we're looking at more rain. how long it will last. >>> the news at 6:00 starts right now. good evening to you and thank you for joining us tonight. i'm peggy bunker. terry mcsweeney has the night off. we are just six hours away from the first day of spring. the new season bringing with it rain, wind, maybe even a bit of thunder. meteorologist rob mayeda is standing by tracking the storm and also telling us what to expect tomorrow. >> right now we're seeing a lot of clouds around san francisco, cooling now, down to 57 degrees, but not much rain at least just yet. the view from sunol looks pretty gloomy.

. >> let's move and talk about this initiation ton biotech at ubs.e are a lot of names in here and i want to give folks your view. let me do this quick. sell gene's a buy. regeneron, buy. in fact, excel ron's a buy, vertex is a buy. then go to some neutrals and biogen at the bottom gets a sell. take these calls in the buy ratings first. celgene, regeneron, vertex? >> first of all, to buy a buy stock, any stock in the world is 10% upside. so i'm not getting paid for the risk if he thinks that's the upside target. in terms of the other buys, pretty much generic. not in terms of generic drugs, but generic recommendations. bib has been somewhat controversial. the stock hasn't performed. it's been a favorite for a very, very long time. so that's the one i would dig into a little bit more. >> looking at a 10% downside. >> any stock has 10% downside at that point in time. >> in this space, especially. >> exactly. so to me, it's an issue who's on the board. let's see what he does from here. >> all right. gold prices on track for their longest losing streak s

jake ub vrana. that's all the caps needed. they win it 1-0-8, even redskins chris baker loving it. >>> now on to the redskins. a lot going on right now. general manager scott mccloughan not there due to family business. they're talking tonight one of those thins they're probably talking about, quarterback kirk cousins, the qb's agent and the team met last night. the two sides are still not close to a deal. reportedly offering cousins 20 million per year with the qb looking closer to 24. to the diamonds, nationals taking on the astros in spring training. first, two on for jayson werth. and werth smashes that ball. and the nationals out to a 4-0 lead. you think bryce harper is going to let werth outdo him? in the sixth he's got a man on and he sends this ball into orbit, a two-run shot for harper. second of the spring. nats win big, 13-1. >>> but there was a crazy scene at the mets/marlins game. you never want to see a bat fly from a player's hands. but today they cheered him. he comes away with the bare handed grab. just so cas

---al encuentrentre los equipos ''ub america'' ''monarcasmorelia'' llegaron s 70 policas...agentes noicieronarrestos ntampocos sereportaron heridos graves .. take vo/cesar --el hombre acusadde asesinara cuatro miembros deu familia en sacramen compadecfrente a un juezhoy. --"svor vasqueoliva" enfrenta cuatro carg de asesinato, fue arreado en san francisco as el macab hallgo de su esposa, dos ijos una sobrina dentro su hog. --el fiscal dice easquez oliva util un arma pegroso ra cometer los crimes pero no hdado ha conocer lque es y cual fue el motiv --regresar a corte 18 de abril. cesar / ots --el gobierno del esidee dona trump so entre laespada y lpared a las llamad ciudes ''santuario'' take vo / cesa--en declaracionesstaaÑana, el fiscal general,"jeff sessions", di que retendrn fondos ferales aas ciudades santuario-- adems podran impir, a lciudades que no caboren n inmigracin, califar parafuturos suidos y hastquitarles el dinero que ya e robado enel pasado...take sotvo / :8 s "el gobierno fedel no ene la potestad pa castigar a los estados ni las ciudad con la retención de fond

take me into the room with ubs right now.when the market is mounting up around you and your peers are all upgrading their forecast? julian: it's always a challenge. you see this time and time again. by seeing araged headline ipo perform as well as it has. but you also see, when this happens, the market tends to take a breather. which is why we think, again, focusing on chair yellen's speech this afternoon and subsequently on the fomc on march 15, eighth there is an incremental aggressiveness in raising interest rates, that is a potential sort of slowdown sign for the equity markets. talked aboutn't president trump in the hole hour. which is unusual. : in 1999, a it was clear how the internet was going to play out. the valuations were 100 times revenue. ats is still a big valuation 35 times. this year's revenue. i think there's a difference between the two. david: when you see something like they snap ipo go out, does this have been official -- a beneficial effect on silicon valley or does oppose a risk because people will be

ubs is accused of helping clients evade taxes and launder the proceeds.wants an agreement that excludes the -- includes the fine but no admission of guilt. raising money for us latest private equity fund, the most ever raised focused on north america. from outside investors. kkr added $1.4 billion amidst bounce sheets and from employees. that is your latest business flash update. we will back -- we will be back at the commodities close in just a moment. this is bloomberg. ♪ scarlet: from bloomberg world headquarters in manhattan, i'm scarlet fu. is "bloomberg markets." copper is arkets, biggest surge since 2001. you can see huge amounts of to wearhouses.nt there is a spike-up right now, back to 2001, the most in 15 years. it comes despite the fact that of the world's biggest copper mines are out of action. day.ng for a third we're also keeping an eye on soybean futures because of and weather problems in brazil. and s have come back a bit have settled just barely higher. ith oil prices moving on news that iraq said opec will cut production into the second

bt kwn a ub ug.=v >>> controversial new treatments for clinic kgcal depression it's known, best known as the club drug. drug is known as special k on the streets. psychedelic drug popular in dance clubs. it is approveds an animal tranquilizer lieser and anesthetic. but it has the potential to repair connections in the brain that have been damaged by so much stress that it leads to depression. doctors say they need to do more studies. >>> the little girl staring down the wall street street sign has fueled powerful conversations about women in leadership. the statue was supposed to be removed april 2nd. longer permit will allow it to remain there through february of '18. >>> uber halted self driving car operations on friday after they investigated a crash involving one of their self driving cars in tempe, arizona. it appears the self driving car wasn't to blame for that crash. the driver of the other car involved was cited. >>> up to 100 new emojis headed to your smart phone. among them a breast feedin

no nr srina re wh ub. t >>> right now at 6:00, no longer sharing a ride with uber. the company now looking for a new president tonight. >>> and a big change on the way. we are tracking two storms headed for the bay area. we're looking at more rain. how long it will last. >>> the news at 6:00 starts right now. good evening to you and thank you for joining us tonight. i'm peggy bunker. terry mcsweeney has the night off. we are just six hours away from the first day of spring. the new season bringing with it rain, wind, maybe even a bit of thunder. meteorologist rob mayeda is standing by tracking the storm and also telling us what to expect tomorrow. >> right now we're seeing a lot of clouds around san francisco, cooling now, down to 57 degrees, but not much rain at least just yet. the view from sunol looks pretty gloomy. midlevel clouds, mostly cloudy skies, 63 degrees and similar conditions from the top of mt. tam to the bottom of the clouds. currently 61 degrees. as we widen out the view on the satellite/radar, you see a few lighter showers offshore, but the main ev

ub certificate a really big company that wasn't acting like a big company. it was acting like a startup. as a startup you don't care about the possibility you're going to get sued for sexual harassment. if you are thinking very hardheadedly. all you care about is surviving the next six months or next 12 months and that is insidious no matter what. but i mean it's super insidious when are you talking about a company that employs thousands of people. and they for whatever reason in case their investors didn't demand it or immaturity at the top weren't able to get there. >> when travis said i teed to grow need to grow up, not just as a human being, a leader. his company needs to grow up, and the tech sector as a whole needs to grow up, if you like. but i'm curious, you are in the business of dealing with nightmare problems what do you do about the women in silicon valley? i think the women in silicon valley are part of the bigger exercise in the industry. this is the industry that in fact is my mind at the greatest ris frk president trump, i think has the bigge

ub, a school and office supply store, made that donation.nd mayor libby schaaf is going to be there to hand out supplies this morning. >>> a new way to fight diabetes is on the streets in vallejo. this mobile diabetes education and prevention center features workstations and a kitchen. abc7 news was there as the toro university and sutter health unveiled this van yesterday. it will provide screening for diabetes and demonstrations on how to prepare food that is healthy and delicious. touro university points out that 55% of californian with diabetic or or diabetic. >>> the final trust of this guy back here, the bay bridge, is going to be gone this morning. we started this time lapse video of the work to remove it yesterday. demolition began november 2013 but this truss was one of the last visible sections for the -- on the bridge for drivers going past. the span is going to be taken apart out of sight in oakland. the concrete foundations will be demolished sometime this fall. >>> let's talk about how we're going to have an increase and some c

ub uber's nearly $70 billion valuation depends on uber leading the way and figuring out autonomous driving. the company loses billions of dollars a year, eliminating the driver would eliminate one of its biggest costs. for "nightly business report," san francisco. >>> finally tonight, the fearless girl will stare down the wall street bull for another year. it was scheduled to be removed next month. she was put in place by state street global advisers to advocate for getting more women on corporate boards. according to new york city's mayor, she will remain as part of a city public art program. >>> that is "nightly business report" for tonight. i'm sue herera. thank you for joining us. we'll see you here tomorrow. >> this is "bbc world news." funding of this presentation is made possible by the freeman foundation, newman's own foundation, giving all profits from newman's own to charity and pursuing the common good, kovler foundation, pursuing solutions for america's neglected needs, and aruba tourism authority. >> planning a vacation escape that is relaxing, inviting, and exciting is a lot