still with us is bhanu baweja from ubs. about china, but he was positive on nafta. is the focus now shifting in the white house away from blowing up nafta to what is happening in china? bhanu: china is always going to be the big deal, right? i think with trump's support base, the states that have voted for republicans, there is tremendous support for nafta. it is difficult to see nafta become completely abandon. you have on election and mexico later this year, and things could go slightly wrong out there, and the negotiations could become more troublesome, but i think nafta will end in the right place -- land in the right place, because there is u.s. support. china is going to be a different story. i think there will be support across the political spectrum in the u.s. for some sort of action against china. now how dramatic those actions are will decide if china retaliates or not. it will take a lot for the u.s. to induce a major reaction from china, because china's hand at this point, the way that they like to play it is b

broadway play, powell got his share of reviews from critics, they were generally positive look at what ubs said. powell came through as we anticipated. straightforward and clear. jpmorgan writing powell's first press conference was crisp, uncontroversial and perhaps a bit boring, which may count as a success. let's get back to monetary policy the fed raised its outlook for interest rates not this year it was one forecast short of the four hikes, and upped the outlook to 4% by 2020. powell said he sees only moderate stability risks, and sees more growth from fiscal stimulus he wouldn't talk about the idea of it being from the supply side or in the demand side. in the words of john lennon, did powell pass the audition yields are little changed so that's probably a win.

equity stregist at ubs. thank you for joining us. >> thank you. >> given ourve extenrade relations with china there are a lot of companies -- i saw yourpo research . there are like 50 companies on this list here. it is a cross section of all industries in the united states, rit? >> yeah i think we see the risk of risings tensi and sticker shock with $500 billion of imports from china. there's quite a lot that could play out. but we think that the broad fect of a more broad tariff is unlikely and what we are seeing now is potential talk of select tariffs on import of consumer goods. other things that we import quite a lot from china, cell phones, tech hardware, semis, apparel, et cetera, and then i think there is the risk of retaation, so thoseompanies selling in china or to china from u.s. on the export so i think both of those types of companies may be at risk. >> we put together some s the nahat are on this list. as bill mentioned, there are a lot of them. but there's -- really kind of an inordinate bias t

thank you very much for that >>> ubs says it will merge its british arm with its german headquartersn bank as the swiss bank says it will take a decentralized approach to relocating staff after brexit ubs is increasing the capital set aside for litigation and regulatory measures to 2.4 billion swiss francs net profit was at 1.1 swiss francs in 2017 >>> the annual report from ubs shows sergio ermotti got a raise with his total compensation for 2017 hitting 14.2 million swiss francs the bonus pool at ubs grew 6%. >>> tesla shareholders have been advised to reject elon musk's pay package. iss has described a proposed 6 $2.6 billion ten-year package for the chief executive as unprecedented and too rich up the plan, musk would not get a salary or cash bonus, but he would be rewarded based on the auto rising to 6$650 billion ove the next decade. tesla shareholders will vote on the 21st of march on the proposal. >>> disney investors voted against the pay plan that would have given bob iger $48 million a year half of the stock hoeinvestors d the pay package. the pay package is tied to closin

strategy at ubs.ourd was about methodology, because we know m&a is part of your picture, buybacks are part of that picture. how do you get their? keith: our method or lizzie -- methodology is you start with earnings, and then it comes down to valuation, where we still think combination of low rates and what is better forward growth picture would have sustained higher multiples. what has happened is we have seen a derating inequities from about 18.5 times forward in january, now down to about 16.5 times now. ande a bit of a reduction, in terms of more money coming into markets, buybacks and m&a stories, which adds to eps but also as to market support here. scarlet: they will provide the fuel for the next leg up in the equity markets. buybacks,k at the jpmorgan predicts u.s. companies will announce more than 840 billion dollars of buybacks in --8, versus $500 billion $500 billion in 2016. keith: i think part of it is there is a new normal, where buybacks are running at a bit of a lower rate because prof

e ubs said they are surprised by the level of angst in the market. i take you back to the 1990's. they never implemented the tariffs. this very much seems to be the playbook of trump, the art of the deal, and that possibly is what markets are hanging their hat on at the moment. sarah: that's true. i mean, we have seen big market moves. there is a lot of anxiety about the implications for trade for these tariffs if this protectionism does go through. what is different now compared to last time -- unpredictability. of course, donald trump, throughout his campaign, talked very clearly at every single rally. he talked about unfair trade from china. he has made a very big deal about the trade in -- trade imbalance, which has widened more recently. we have the midterm elections coming up in november, so for washington to their constituency ahead of november, i think that is what makes people nervous that there could be followthrough and an escalation of these trade threats. manus: you are a chief economist. have a look at this chart. 6162. political risk. the appointment of bolton. the

how has it played out for ubs?i think that the first quarter has elements of seasonality that we see generally, particularly euphoric. i see the same kind of trend over the last couple of years in terms of pattern. a lot of volatility between quarters and within the corridors in terms of client activity. i would say it is different from what we've been seeing. >> the capital position is looking good. there is less uncertainty. you are in a better position to make acquisitions, should you choose to. are you on the hunt? are centralall, case is to look at organic growth. we have ample opportunities at this stage. when you look at asia, china, the u.s., we have pockets of growth everywhere in the world, and our focus is on growth. we look at small acquisitions here and there to complement our portfolio, but nothing extraordinary compared to what we did the last couple years. >> do you expect to see a tick up in the banking sector? >> i would expect consolidation. consolidation would be part of the solution and trying

they paid off the credit card used for ub ner how did they do it? they sent you a nek they isn't you a sneak ok. all right. good. all right. man, so you are not back in college now. where are you? >> aim in jersey at the house, man. bill: all right. thanks. congratulations, man. >> thank you, buddy. have a good one. bill: all right. let's bring in the a plus panel. the threshold for what constitutes good behavior today really, really low. let's bring in bill caruso. democratic strategists and an attorney and columnist. you know, of all the dumb things kids do in college. this is not the worst. >> no, first of all. i learned as young lad. the lord protects drunken fools. so the lord intervened here in this place on two occasion. i was like, welllogical well listen, listen t. this young man-made smart choice on the front end of this flon not get behind the wheel. it took a weird turn and you foe, it is where with it us now. he did make the right choice. >> can he get cred credit. he woke up four hours late we're a strange person 3:00 in a car. hea nod

coverage of fellow dowomponent american express was initiated with a buy rating at ubs. f thm says that accelerating business volume and loan could drive revenue there, and in turn that could result this stronger earnings per share. price target they put in, $111. the stock rose fractionally to $92.21. >>> in that same note the ubs analyst started coverage of discover financial with a sell rating. the firm sites potential erosion of asset and revenue growth. the price target is $70. the stock was up to $70.28. and bernstein initiated coverage of the dow component visa with an outperform rating. thely a calls visa's business model attractive and says it should benefit from the growing payments market. the price there is $143 a share. the stock fell a fraction to $116.99. >> some. brightest minds in health care together in one place discussing the most complex ie ustries in rld. >>> .gentleman's largestrug maker is considering a possible bid for irish by crow tech company sure. th price tag could top $40 billion. deka pharmaceuticals said everything is preliminary right h

banks like ubs, goldman sachs, and citigroup are pushing ahead with growth plans in saudi arabia to trycapitalize on an evolving outlook. kingdom itself is expanding and refinancing a multibillion dollar international loan. i got more with managing director and cio and bloomberg news reporter matthew martin. on the loan, the king has been able to take an extra $6 billion. it surprised everybody win he took a $10 million loan a few years ago. billion.er $6 and given the budgetary shortcomings, this is going to be helpful. the kingdom's diversifying away from just having the bond markets. side,so from the banking it's another sign that despite the corruption probe and despite the economic slowdown, the banks are still very keen on supporting this story. they are hiring more, they are bringing more people into the country. they are still interested in winning mandates and doing deals there. road,e a few bumps on the everyone is very positive about the opportunity. anybody that doubted that saudi arabia is here to stay, this is evidence contrary to that. this makes them one of the biggest i

maysecurities regulator devon enthusiasm after ubs was slapped for 18 months. david: full on sugar.nth, looks like it is sugar. thank you so much for that. let's get you an update of your first word news. here is paul allen. paul: they say the group used a team of traders with more than 300 different accounts to manipulate the accounts. penalty, -- they say s almost sixi times as much as they earned. diplomats fromf -- u.k. is shortsighted and according to russia. the expulsion is the biggest since the cold war. the u.k. has cut high-level contacts. the u.s. senate has passed legislation to ease constraints on smaller banks, giving the finance industry its best chance yet of rolling track rules. the bipartisan bill freeze smaller lenders from some of the tougher requirements. it raises the asset threshold. that subjects them to fed supervision. the european union and is questioning the rationale between trade tariffs. the trade commissioner says they will seek an exemption and prepare countermeasures. mario draghi says a potential trade war with the u.s. posed more risks and uncerta

ubs looking at a more decentralized model for their brexit plan.on of london staff will be affected. all of this coming through from orcel writing a memo to staff. banks will make their preparedness for moving ahead. let's talk about the ecb in europe. mario draghi, this was a pretty cool move. pledge to ramp up bond buying if the economy deteriorates. the central bank is expected to continue its asset purchase program into the fourth quarter of 2018. anna: a sign it is looking to end qe in the not so distant future. asset purchases will total 30 billion euros for the last three months. mario draghi wade in on the trade tariffs conversation. >> disputes should be discussed and resolved in a multilateral framework. the unilateral decisions are dangerous. is a certain were you are concern about the state of international relations, because if you put tariffs to against your allies, one wonders who the enemies are. is stillremy stretch with us. we are getting lines coming through from kuroda. we will bring those the next half hour. the japan economy p

ubs is not the leader in this area. to get started when there are big competitors out there. jason you bring in a guide to get thejumpstart and name out there. we will see what happened next. david: steve wynn we covered yesterday. we discussed the idea this was all about macau. galaxy steps in. 5% as steve and by wynn is selling all of his stake. this is arguably good news all around. it probably answers some existential questions for the company about macau. regulators were concerned over there. david: they started an investigation. you assume the licensing in macau. what about the broader prospects for increasing? jason: we don't know what galaxies plan is. it also raises the question of where does the company go from here? this was a lane wins divorce proceeding. she was really active in the creation of the resort in las vegas. she was active in the management of the company. julia: edelman people understand that. you know them both very well. david: she hired a lot of those people. she was very active in the busine

a penalty onpped ubs in february. other investigators are looking at possible responses.netbetting on the to pulled out of a sales slump. they are watching a three-year comeback plan after another quarter of disappointing earnings. slashinghe plan is distribution spending with an online push. signet often competes with itself with locations in the same malls. mark: in other company news, adidas ending 2017 on the right foot. revenue for the german company fourth 12% in the quarter after a slowdown in the third quarter, which sparked concerns and wait on the -- w weighed on--w the shares. almost 30%, and our online business grew almost 57%. those will really grow the company forward for a record year. we are very positive on china. it is helping our profitability. margin contracts on the large superstars are signed in europe and the u.s. that makes the chinese market look even better. top: adidas is the today.er in the eu the u.k. announced it will eject 23 russian diplomats attack of the poison gas on a former russian spy. >> they have provided no credible explanations th

yousef:, global banking giant like ubs and jpmorgan are looking into saudi arabia.discuss why the kingdom is looking so attractive, next. this is bloomberg. ♪ ♪ yousef: welcome back to the "best of bloomberg markets middle east." bankssuch as -- global such as ubs, goldman sachs, and citigroup are pushing ahead with growth plans in saudi arabia to try to capitalize on an evolving outlook. meanwhile, the kingdom itself is expanding and refinancing a multibillion dollar international loan. i got more with managing director and cio and bloomberg news reporter matthew martin. >> first of all on the loan, the , king has been able to take an extra $6 billion. i mean, it's sort of surprised everybody when he took a $10 million loan a few years ago. now another $6 billion, and given the budgetary shortcomings, this is going to be helpful. it also demonstrates that the kingdom is diversifying away from just having the bond markets. and also from the banking side, it's another sign that despite the corruption probe and despite the economic slowdown, the banks are still very k

. >> gracias por la informaciÓn, el conductor de ub br cuyo, indicaciones de google maps al momento delo y recibiÓ las indicaciones del gps y terminÓ en las escalerass, investigan el incidente. >> una madre de san josÉ busca cÓmo mantenerse a flote mientras su marido estÁ en custodia de ice. >> como por ejemplo irse a canadÁ. >> tanto la seÑora lourdes como sus tres hijas estadounidenses, por eso volver a mÉxico de donde es su esposo no es una opciÓn, ha explorado opciones como pedir una residencia para ir a canadÁ, dice su primer deseo es que su esposo sea liberado y que vuelva a casa con ella en san josÉ. >> no nos podemos tocar, abrazar. es momento de despedirnos. entonces muchas veces como dicen, me muero por verlas, pero en muchas ocasiones prefiero que no vengan porque se quedan muy tristes. >> durante seis meses la seÑora lourdes ha mantenido a flote a su familia mientras su esposo permanece detenido por ice. >> presentÓ su caso el 26 de febrero y pidiÓ tres semanas para dar una decisiÓn quiere decir que para el 19 de marzo hubiÉramos tenido una respuesta y hasta hasta hoy no hem

coming up, we talk global trade with paul donovan from ubs. and later, we speak with the former chief executive. partner,he industrial he joins us to talk italy and the future of luxury and then, we talk with robert shiller. 11:00 11:00 a.m. london time. let's get straight to the bloomberg first word news. nejra: the announcement comes hours after beijing confirmed un made a surprise visit to china. he says he would be willing to give up his nuclear weapons and hold a summit with the u.s. it was his first known visit visit out of the country since taking power in 2011. according to people familiar with the matter, of which is a working to identify areas in which chinese companies would be banned from investing, such as semiconductors. it would be the latest step in donald trump's plan to punish china for what he sees as violations of intellectual property rights. mark zuckerberg is expected to testify before a u.s. house energy and commerce committee. that is according to a congressional official familiar with the plan. he has this criticism b

>> we're in the ubs evidence lab. >> just watch march madness. tell you one of the 50,000 ads they run including the eight-minute break with a five-minute ad >> we'll get cramer's mad dash and count down to the opening bell after the break coming up on "mad money" don't miss jim with the ceo of nvidia. >> oh, my. >> do you know how long i worked at that? >> wow >> yes jensen huang do you believe it? >> that's a mic drop we'll look at the futures as well back in a moment at holiday inn express, we can't guarantee that you'll be able to contain yourself at our breakfast bar. morning, egg white omelet. sup lady bacon! fruit, there it is! but we can guarantee that you'll get the best price when you book with us. holiday inn express. be the readiest. so i'm not happyhanic in the corps, unless my hands are dirty. between running a business and four kids, we're busy. knowing that usaa will always have my back... that's just one less thing you have to worry about. we are the cochran family, and we'll be usaa members for life. stay with me, mr. parker. wh

i have here with me to discuss implications is the cio 6 ubs italy. bit of reaction in some of the italian banking stocks as well overall, the european stoxx is up what do you make of the reaction here >> first of all, the market was expecting hung parliament in italy for several months of negotiations and it was a different but not unexpected outcome the market has been doing well here to date but that was based on the bottomed out results of the companies. and the less on spain and portugal so is there was already some risk placed in >> reporter: something that we haven't touched on this morning, and we've had other guests on the show but the european bank figure is coming up this thursday. there's some indication they may look to send hawkish looks to the market do you thing it could change that >> well, at this stage, we don't see a spillover to the rest of europe or global markets so within the ecb it will stick to the way it is in september and probably will look for rising rates in 2019 >> reporter: what do you think is more important for the d

ubs selected a number of stocks that they believe could provide good protection ahead of the election enel and intesa san paolo are also on the list there are some stocks that ubs viewers unfavors the makeup of the chamber of the deputies in the lower house could change following the outcome of the vote. center left parties hold a majority with the party holding 283 seats. the final poll from february 23rd predicts large gains for both center right parties including former prime minister berlusconi's forza italia. there is also an increase in the popular five-star movement there's been a blackout of remaining polls before the election willem joins us from milan >> people have expressed some concern about the uncertainty, but a lot of business leaders and investors say there's nothing too much to worry about because nothing will change drastically. i'm joined by the founder and managing partner of new deal advisers i want to ask you about the policies you've heard during this campaign. do any of them have a detrimental impact on economic growth from your perspective >> basically my onl

on the downside, i am looking at bic, initiating at a cell with ubs. a sellating at with ubs. that the retail sales went up 12%, but they are moving down this morning. goldman saw a muted reaction on the back of those results. muted more than 2%. guy: let's stick around the trade story. china says it will take measures to protect the international and foreign property of foreigners investing in the country. meanwhile me sidelines of the said itng, th damage on both sides of the atlantic. at what point does this become self-limiting? it will become clear to all politicians, donald trump, that this is doing bad things for the u.s. economy. do we get to that point before it gets too far? i am just wondering about the escalation story behind that. case, look at the worst the worst case is the world will rich u.s. and ridge china story where people have what it takes side. and of course today, chinese companies cannot send technology to the u.s. and u.s. companies cannot send technology to china. it hurt it while ago, even under obama it was one of the biggest so, hents ont wto on

s ingreso al centro y las asesino, >> iuna persona muere atropel d atropellada ppor un vehiculo de uben decidi i retirar a los vehiculos de cir u circulacin tras el accidente p r personas dicen ver con descon a desconfianza este tipo de aut o automovilauto automoviles >> >>es muy pronto, >> mentusimusica >> (varias voces(. >> ya lo tiene,asi reacciona una persona en san jose luego que e peatones le reclamaran por dejar encerardo unrado un pero en sr l las personas intentaba ndarle agua, y recuerdan que abandoana un animal bajo altas te temperaturas podrian causar la m muerte >> >> bueno en esta epoca, ya bastante luiva en luvia, cuan l nuestra zona >> >>maÑana martrees y contin r continuaran en la semana, >> al menos durante los proximos dias veremos doblar y triplicar incluso la cantidad de humedad, asi que al menos en los proximos dias condiciones intensas en l lluivvias, hacia elcentro y su e del estado donde veremos la ma o mayor inicdencidencia, en promea pulgadas que llegan maÑana mar martes la primera ronda, y co continuar'aa expandiendose el mr enim miercoles en la maÑana y hac

jason katz, ubs good to have you. >> absolutely.ll rings] liz: saint paddy's day tomorrow. irish green on the screen. that will do it for the claman "countdown." have a terrific weekend. david: down for the week but stocks rallying into the close. the dow higher for the second day in a row. that is good news. closing up about 57 points. we're seeing green across the korean, a fitting way to celebrate st. paddy's day. happy friday. happy st. paddy's day tomorrow. i'm david asman. trish: all those things, i'm melissa francis. here is what else we're covering during this very busy hour ahead. the clock is ticking for former fbi director an di mccabe, he is man be fired before he retires with full pension on sunday

you very much. >>> let's continue the conversation and bring in paul donovan, managing director at ubsealth management. steve hit on a number of the highlights of the report one thing we want to focus on is inflation and wages. jay powell possibly saying the fed thinks we could be at lower levels of unemployment without stoking fears of real runaway inflation is that the take you got from some of this press conference material? >> i think there's certainly a suggestion of that it's a bit troubling, to be perfectly honest i think there is too much faith in how accurately the old-fashioned wage statistics are capturing what's going on with cost pressures, labor cost pressures in the u.s. economy. because, of course, we are hearing in the fed's own beige book of increased sign-on bonuses, for example there are shifts with regards to self-employment, which may actually be increasing labor costs, but just not captured in the official data. i think there was a bit of complacency and failure to recognize that things may be changing in labor markets in the way that the old-fashioned methods of

ubs told me he is also looking at this issue closely.l have an immediate, significantly detrimental impact on markets, but he said if it continues longer-term, it could be very disturbing. yvonne: we also heard from the new pboc governor, was he able to calm some of the jitters you mentioned? we didn't hear frankly anything dramatically new on the pboc governor. this was his first attempt to address publicly in his new role some of the watches of the tv oc. he said for example, there would be accelerated efforts to open the markets, we have heard that articulated at the national people's congress and we are still waiting on a timeline and details. he said the focus would remain on tackling a financial risk in the system here and he said in terms of monetary policy, it would remain prudent and neutral. he was asked about the potential followed of the trade tensions and the impact in china and he said essentially the risk controls were in place to protect many of the key sectors here. take a listen. risksany external threaten china, i thin

such as deutsche bank, ubs, or barclays? not, to powell: it does my knowledge. >> can you elaborate on how those are applied to the largest fbi owes? -- fbo's? chairman powell: it looks at the global consolidated capital. now we have intermediate holding company requirements for these companies and none of them would be affected by this. they are means is that required to keep capital liquidity in the united states commensurate with their activities. they are subject to the living will and things like that. it is a range of enhanced prudential standards, the holding company thing is an extra one that we gave them. >> i thank you. i am frustrated that some jump to conclusions about how or what might happen regarding company for holding companies. to clarify, from your perspective, the creation of the ihs was not included in dodd-frank, correct? chairman powell: that was something that we added, independent of dodd-frank. >> and it does not require any change to the iaac, correct? chairman powell: it does not. >> thank you for

from ubs asset management. has december changed his mind?speak with charles evans about whether he finally supports a rate hike. from new york, this is bloomberg. ♪ ♪ julie: this is bloomberg markets. i'm julie hyman. chatterley.'m julia fed officials are expressing confidence that low on employment will put pressures on prices, and turning inflation back to 2%. charles evans sat down with kathleen hays to discuss the report in the impact on the economy. charles: i thought it was a good report, 313,000 jobs created. on the payroll basis, we have had strong payroll growth for many months now. labor market is vibrant. clearly, the employment rate at 4.1% continues to be good. i would say the increase in the labor force participation rate is a really good sign more people are coming into the workforce. the unemployment rate is continuing to stay at that 4.1% rate. that ends up being a good sign on the heels of the 300,000 payroll employment. you mentioned weight growth was on the weaker side, so this was one of those -- wage growth was on the w

and performed the works of duke elliot and other big band composers and arrangers and received inval ubk on their work. and the best part of this great music. >> abc world news tonight with david muir is next on channel 6. and "action news" continues at 10:00 on phl 17 with brian taff, sharrie williams and ducis rogers. and please join us for "action news" at 11:00 here on channel 6. for the entire "action news" team i'm jim gardner we hope you'll join us at 11:00. >>> tonight, the nor'easter hitting in just hours. slamming the east coast, up to two feet of snow expected in some places. schools in philadelphia already closed. bracing from philly to new york city to boston tonight. nearly 200,000 without power, without heat already because of the last storm, and now this. >>> also breaking at this hour yet another major departure at the white house tonight. just as the president declares everyone wants to work in the white house. >>> and the emergency evacuations tonight. the train slamming into a truck hauling hydrochloric acid. a dangerous chemical cloud above the crash site. families

ceoill hear from the ubs sergio ermotti.strategist joins us. potential impact on the region. this is bloomberg. ♪ ♪ >> china has responded very potentialiven the weapons it has at its disposal in terms of countervailing shifts and its possible in purchases in u.s. treasury's. so there is plenty more to come if the u.s. chooses to stay with this reckless policy. been moving towards domestically driven demand. it has been part of the agenda for china for a long time. this will accelerate that pace. and china has the resources and the tools with which to withstand the kind of aggressive action. >> [indiscernible] we could have an issue and impact on global gdp, and that is something we are watching carefully. >> what i have heard from many sources is the u.s. was not in a mood to talk. and i have heard they are still not in a mood to talk, so i am not sure where these negotiations are going on. but i have heard nothing that there is communication going on. ♪ david: so you just heard some of the comments from a lot of the guests

year-old woman has been jailed for six months in minnesota for fatallting her boyfriend in a botched ube video they hoped wou go viral. she convinced him to shoot a range, believing a thick book held to his chest would shield him. he died at the scene. the french baker has been fined for openin his business seven days a week. the baker runs the only shop in his town in northeast france and statest open ummer to serve tourists. bakers are required to have one day of rest a week. he is refusing to pay the fine. thousands of people have been rebel-heldku's area of easterar. doctor -- eastern ghouta. overwhelmedthey are by rasualties. thort by jeremy bowen contains distressing scenes. of people arends fleeing eastern ghouta, trudging into an uncertain future that okbetter now than the deadly present. these are the people who spend weeks hiding in basements from the shelling. 'astern ghouta is a big area, and this isnt happening everywhere. many tens of thousands are still besieged. this was filmed by a cameraman who gives his material to the bbc. the attack happened oue his building. a iall

for one instance, an ube zoome through a red light on a busy san francisco stet.w worried are you about the safety of these cars? are they ready? >> well, you know, safety has always been top priority for us. and that's our mandate, is to ensure the safe operation of these vehicles on our roadways. and so we've taken a lot of steps and deliberately developed these gulations to ensure the safe operation of these vehicles. e've always been concerned with safety. and we're -- we feel really good about how theseon regula have been crafted. and we feel like it's something that is needed to ensure the technology.t of this >> and what about liability? what if you're in an accident and yet there'sr noer in the other car for you to get insurance information from? right. so the regulations speak to the -- all of those practical issues that need to be d. addres just like they're addressed now with drivers. and so manufacturers will have to come up with a law enforcement interaction plan. basically they need to be able to work with law enfcement where these vehicles are antic

wendy's saw its ratings raised from neutral to sell at ubs. the analyst cites better sales trend and an attractive valuation. was increasedet to $17. the shares rose fractionally to $15.98. macy's saw its rating lifted from buy toold at gordon has ket. the firm expects improved sales over the next couple of years. the call comes just days after the department saw a reported better-th better-than-expected earnings. the stock fell half to $29.25. >> crock's ring was listed to overweight. the rating upgrade follows its most recent earnings lk and a disappointing outlook. the target price was increased to $15 a share. croc stock, i love saying that, croc stock was up 5% to $12.92. the industrial com eaton saw its rating lifted from neutral to underweight at jpmorgan. the analyst there says the risks andewards are more heavily balanced. therice target, $82. the stock down more than 1% to $79.59. >> and still ahead, why share buybacks have surged over the past few months. >>> a new develtoment in a that we've been following for you. georgia lawmaker

ubs is raising its rating on time warner touy from neutral. the firm believes that its merger with at&t will go through, but even if that deali does time warner shareholders will still win because of the strength of its assets like hbo. and the price target was reaffirmed at $108 a share. the stock rose 1.5% to96.75. meanwhile, micron saw its price raise sharply at nomura making it the highest price target on wall street for that company. the analyst expects higherme ry chip prices to help and he's forecasting a dividend and share buyback announcement in the coming months as well. the firm maintained its buy rating and the stock gained more than 8% today to 59.37. >>> theow component merck was upgraded to outperform from a market perfo here and partners. the firm says merck's drug will perform better thanex cted. it was up fractional to 55.36. deckers outdoor which makes ugg boots saw its rating downgraded from hold to buy. the company will face some tough comparisons following a good winter season. the price target was cut from $108 a share a

umpqua, a 26-year-old man handed a ub drive containing his manifesto to a student and opened fire.he killed nine in a humanities building. 7 injured in a shoot-out with police. and parkland. the coastal florida high school when a 19-year-old killed 17, injuring 14 in the latest in a long line of shootings. the suspect awaiting trial but the country is far from closure. joining me is jewel issy bishop. she was evacuated. i have to remind our viewers and the world about what you go through, what these students in all of these stories just read go through. the terror that will, despite how you heal, will live with you for the rest of your lives. tell me what happened that day. >> that day i was sitting in my government class and we were learning about interest groups. my teacher was informing us about how the nra has the most influence among our politicians and how we could possibly be the generation to change that, in fact. just 20 minutes before the bell rang, the fire alarm started to go off, which was unusual as we had had a drill just earlier that day. we started moving out, foll

analysts of a major bank, ubs, talking about moving several hundred employees out. >> to do a good dealith these big nation states is made very, are very hard. because why would they bend over backwards to have deals with us? we're a member of a club, the european union. our ability to do a deal is strengthened. my worry is this, the british voters, who voted to leave the european union, the phrase we use is sold a pup. they've been made promises that simply can't be met. the promises made by the brexit campaigners was once the vote was taken, we would benefit from £350 million each week. if you were made that offer, you'd be a fool to turn it down. lo and behold we voted to leave the european union. this is what turns people to being cynical and saying all politicians are i'm going to give up on politicians and that's why you showed a clip of mr. bannon in france and italy which sees the election results in italy in the last two weeks. when it is the case that it doesn't arrive in italy in the next few weeks and the few people who voted the way we did will say, we voted the way we did,

tao wang is head of asia economics at ubs and shejoins us now from hong kong.g us. i supposed toa thank you forjoining us. i supposed to a certain extent the chinese must have been expecting this because donald trump has been talking about this during his campaign two years ago. indeed, i think this during his campaign two years ago. indeed, ithink rising this during his campaign two years ago. indeed, i think rising trade tension is very much expected. last year the trump administration didn't really do that much and there was a lot of talk but the section 301 investigation was initiated in august, so this is something that's in the pipeline for some time. but does president trump have a point when he talks about china being punished for things like copyright infringement, intellectual property, the trade deficit, doesn't donald trump have a point there? on trade... in terms of intellectual property rights and protection and so on, indeed there is dispute there and china has agreed to increase the enforcement. there's definitely issues that continue to be a di

rishaad: thank you for that, director of foreign exchange analyst at ubs.e paying off after a four-year profit. we will be speaking to james garner. this is bloomberg. ♪ ♪ haidi: this is bloomberg markets: asia. i am haidi lun here in sydney. rishaad: in hong kong, i am rishaad salamat it. beating all analyst estimates in its latest earnings report. james garner is the company's chief strategist. he says the company will be pushing more into technology. group isal of pinggao to transform from being a capital driven enterprise to a technology driven enterprise. over the next few years, you will see the contribution from technology, and our valuation. >> a want us be combat the broader sector. we saw this merger. it can perhaps -- we could perhaps the tighter regulation. how will this affect the sector as a whole? >> for large insurance companies like ping an and the other peers, this is a good thing. is discipline the whole sector in terms of controlling the asset risks they invest and the products they are trying to sell. the whole industry is steering towa

you all familiar with the way huge fortunes often acquired in the most ubs circumstances in russia ——nces in russia —— dubious circumstances in russia —— dubious circumstances in russia, sometimes connected with little elements, have ended up sheltering in london and trying to buy political influence in british party politics. meddling in elections as the prime minister put it, and there has been over 800,000 pounds worth of donations to the conservative party, to the conservative party, to the conservative party, to the conservative party from russian oligarchs and their associates. that the bra mood persisted when the prime minister returned to the dispatch box on wednesday. the deadline she had set the kremlin by midnight had passed without a response. theresa may set out the government's position. they have treated the use of a military grade nerve agent in europe with sarcasm, co nte m pt nerve agent in europe with sarcasm, contempt and. so mr speaker there is no alternative conclusion other than that the russian state was culpable for the attempted murder of sergei skripal and h

ubs kept saying an earthquake might hold the lng production for at least six weeks.e upside, you see little bit of positive movement coming through in aussie property stocks listed in hong kong. that is after they forecast sales in china. the materiald, players amongst the worst performers, but you have also got the i.t. stocks. investors do not have anywhere to hide, financial stocks are 0.5%, along with telcos. that is a quick look at the market in march. emily: this is bloomberg technology and i am emily chang. back to the top story. but if i filed for a direct listing on the new york stock exchange of plans to trade under the symbol spot. the music streaming company is not following the traditional ipo route and instead, plans to skip the price conventional share process. the price will be determined by the buy and sell orders that will be collected. joining us from los angeles is lucas shaw. the us how this will impact $25 billion music streaming industry. -- the music business shrank 15 years uninterrupted from 1999 or 2015.014 spotify is far and away the marke

keith banks with bank of america and karen olney of ubs are staying with us.he largest tech deal. broadcom's deal to take over qualcomm has hit a hurdle. we will discuss the latest. this is bloomberg. ♪ ♪ david: we might have thought qualcommd cam buying was about price. it turns out there was another issue that could stop the deal. to go through it, we welcome back brooke sutherland from gadfly. we talk about the need for treasury to review this. plan with a look for security problems. : there were multiple points brooke: there were we mightpoints that see copycats. maybe they would have a problem with the takeover of the company, but i will wage a proxy site and get hold of the board and have effective control of the board without having to have a review. we'll rising the risk and the precedent if they look the other way, they were concerned enough that they were talking about looking at it before qualcomm. has been a fairly sensitive tech area, where there are national security concerns, maybe on aluminum and steel. it is not limited to the united states. w

has been a perception theting by some that largest foreign banking organizations such as bar clay and ubs and deutsche bank will be released from enhanced prudential standards under the economic package 2155. i fundamentally disagree with that. and areews are a mess certainly not the text that are in. but i'm a dirt farmer. i read things as they are and i don't read extra stuff into it. man on the fed. so i need to know your opinion. does 2155 require the federal reserve to weaken any of the dodd frank enhanced prudential standards such as deutsche bank or ubs or berkeley? does not according to my reading of the text. >> can you elaborate on how those standards apply? currently, what the bill does is it moves up to 254 the institutions but it looks at the global consolidated capital. iswhat we have now intermediate holding company requirements for these companies and none of those would be affected by this. and what that means is that they are required to keep capital and liquidity in the united states. to be commensurate with the activities. and they are also subject to living wills and

solution that cow sponsor and would create a center of slebling within the department veteran afares to ubs the effects. and i encourage our united states military to provide proper breathing safetyy apparatuses and reconsider of burn pits. i urge my colleagues to support this legislation and these reforms because we have an obligation to care for our eterans. in orn of honor of women's is ory month i dr. mune serves as an director in the the's division at the university f central florida. as chair of the his preponderanceic task force rgs she facilitates collaboration within the community to strengthen the his papic serving efforts. dr. mune ulty and ease has been the proposaling. with grant support from the federation, she accomplished the mentoring programming. the following year she planned the graduation ceremony. [speaking spanish] >> she supports the community and the fund. and noz is reguarded advocates for the success at the national level and in partnership with the and serving at the u.c.f. within the association of colleges and universities and co-leads the relief team at u.c.f.

economic data is still positive, so says ubs wealth management division, maintaining a neutral stancesets after sunday's vote. few investors want to short italian bonds given the risk is too long-term, so says a firm. a different deal between the german and italian 10 year. ahead of the ecb meeting ,omorrow, a look at the euro little changed against the dollar, down a 10th of 1% an earlier it rose for a fifth day, the best run since february. economists say the ecb probably will not lose to the currency strength, when it meets tomorrow. something to look forward to. vonnie: isn't it fascinating was the italian election what we were looking forward to and that has changed. some assets doing quite well. in the united states, the dollar index is saying that staying soft, a time above 90 -- staying soft, the canadian dollar going slowly towards 1.30. the canadian economy had something to do with this but maybe more to the point is nafta renegotiations and talk of a trade war which may or may not be exempt from if there is a tariff on steel and aluminum. 1%, aoil down 9/10 of bigger build

ipo sponsorsan on could expand beyond ubs.nt chief and other sponsors have been reckless -- regulators are looking at a range of penalties were offenders including monetary fines. whatsapp throwing a new curveball into india's financial market. they are introducing a payment service that allows users to transfer cash to each other. the government took 86% of paper currency temporarily out of circulation. this disrupted markets. credit suisse estimates the digital payment market could be worth $1 trillion in five years. bloomberg's conversation about diversity in the workforce, we are putting the spotlight on goldman sachs. lloyd blankfein is planning to step down this year. diversity will be top party for his placement. he said "you make progress, the progress day-to-day looks slow. you know that over time that will change. it's our job to change it." joining us now to explore the topic, jordyn holman. he did propose a number of ideas to the board not too long ago. why are we seeing an increase of female executives at the seni

you got me an ubes." i'm like, yeah, i did. omar will get you home safe.> stephen: you can see him at the comedy works in denver on march 29 through 31. rory albanese, everybody! we'll be right back. late show, everybody. tune in tomorrow when my guests will be keri russell and matthew rhys, and a special appearance by mindy kaling. plus i'll work out with ruth bader ginsburg! james corden is next. goodnight! >> he reminds me of the stern dean of walrus university. we will miss you, doctor. ♪ dr. walrus, hail to thee ♪ flopping on the shore of the sea ♪ we have long tusks and a bushy mustache ♪ you know the rest. captioning sponsored by cbs captioned by media access group at wgbh access.wgbh.org ♪ are you ready y'all to have some fun ♪ feel the love tonight don't you worry 'bout ♪ where it is you come from it'll be all right ♪ it's the late, late show >> announcer: ladies and gentlemen, all the way from --

ubs says it has to help clients .ive without dark pools it will allow companies to trade stocks thaten suspended from dark pools under mifid ii. legitimatetraders a way of hiding orders until there is enough interest to trigger a by aura so. haidi: standard chartered has for fined in singapore failing to meet money laundering requirements. the penalty comes less than two years after the bank was punished for a similar breach in the city state. the military authority says it happened when trust accounts were transferred from the channel islands to singapore in december 2015 and the following january. betty: bitcoin has long been compared to the dot-com bubble. morgan stanley says the recent performance is like the tech boom and bust but on steroids. the moves almost mirrored those of the nasdaq in the lead up to 2000, albeit 15 times the speed. three days of weakness have hit bitcoin since it used in december with prices falling, around 50% each time before rebounding. can alwayst, you find in-depth analysis on the day's big newsmakers on bloomberg radio. bloomberg. you can download t

one involving an ube autonomous car in arizona and anotherr just last friday involving a tesla modelcalifornia. tesla's stocks tank off the news. the company said it is working to retrieve the vehicle's log the crashs. . the crash killed the driver of the car. we spoke with bloomberg businessweek. >> there was a very significant is saying itteslad is the most imaginative ever seen to one of their model x suv's. the reason this is sort of a problem for tesla is that they productionhis huge sprint going on trying to get as thismodel three's produced year as possible. to the extent that they will not those numbers and you something with this that calls into question the company's long-term prospects, that can be sort of a toxic mess for a company like tesla. emily: combine all of that with the general news about production delays. how much does that really set tesla back? model thaterg has a is very impressive. we do not know how close it is. the model has been showing that tesla's production is likely renting up to the end of the quarter. is possible even though the numbers have not lo

there are lyft and ub err stickers on the car but we don't know if the driver was on duty. no shots fired. after taking the belongings the suspects sped off. the entire southbound direction of interstate 280 from sixth street to 101 was close for several hours. chp says fortunately no one was hurt. >>> a quiet neighborhood in walnut creek is tonight the scene of a violent and deadly attack. it happened at a construction site on this avenue. abc 7 nuts reporter alyssa harrington has more on the victim and suspect now in custody. >> one man is dead in what police are calling a violent and unexpected attack in walnut creek. itpened at this construction site on this avenue right on the edge of downtown. thursday night. both the suspect and the victim worked at security guards here. >> the weapon that was used was 4-foot long metal pole. and it's about four or five pounds in weight. en a it was used to strike the victim in the head multiple times. >> police don't know a motivate. they arrested 34-year-old hakeem. the sergeant says this appears to be unproskd. police were called