tv Bloomberg Markets Americas Bloomberg January 26, 2017 10:00am-11:01am EST
i am mark barton. welcome to "bloomberg markets." ♪ vonnie: we will take you from philadelphia to london and cover stories of paris, hong kong and wall street. here are the top stories on the bloomberg and around the world. billion pharma30 deal, johnson & johnson agrees to buy and take over the r&d operations. deals, ahead. mark: lawmakers have two weeks billbate the short brexit introduced today as the government looks to limit the possibility of amendments by the opposition. the u.s., a delicate dance for theresa may as she begins a two-day visit to meet with president trump entree talks. live in philadelphia, where she will engage
congressional republicans at a policy retreat. minutes into the trading day in the u.s. and abigail doolittle has the latest, including the deals. rally,: after a two-day very small games for major averages. the dow and nasdaq trading ever fluctuatinghe day, between small gains and losses but it means we look at a new round of record highs. this after the dow carved out dow 20,000. at oppenheimer and katie stockton suggest that it does signal more strength ahead. the other question could be, is it a signal to sell? time will tell. we will watch it. one thing the dow has not sent in the s&p 500, put in a 1% move. #b2b 5709 and -- it
has been 33 days since the dow has been moved to the upside and $.73 the downside area of the question is, when will it break? to last few times, it led big moves on a daily closing basis, so that is probably ahead. actions, we do have stocks trading on central deal actions with charter communications trading higher. verizon is talking to charter communications about some sort of possible combination, preliminary and not a lot of information. the stocks taking it seriously. verizon trading lower on the news. a look at some of the risk assets to see if it confirms the slight gains we see. it does. cold trading lower. we also have the dollar trading higher against the yen. fixes up slightly but not a big tell. beenwo year yield has
higher and basically unchanged, perhaps mark doesn't really tell that as the day goes on, investors will look at bonds and intraday volatility. mark: interestingly, the vixx near the lowest level in 3.5 years. yesterday, we rose. we rose 1% yesterday. the stoxx 600 up for a on .341% and at highs and over one year, so we are at 30 months highs -- 13 months highs led by health care stocks. we will talk about this in a second. i won't steal the thunder. shares up as much as 22% earlier, the record. jm j agreed to by $30 billion off of the drugmakers r&d operations, clinching the j to becomel for j& the leader in medicine treating
a rare type of blood pressure, the big gainer in europe today. busy day for earnings, always on thursday during the earnings season. you know the world's biggest company has shares up as much as 5.8%. biggest gain since july 2015. sales,ng earnings and price increases in russia and turkey, more than upsetting subdued shipment growth. let's finish with micro, the european ship maker, shares earlier rising to the highest 2007.since it says customer bookings, trends and sales and distributors point to goods in 2017 and it unveiled plans to invest as much $.1 billion in manufacturing and assembly to cater to demand. investors are focusing on signs the company is diversifying the
customer base into components for cars and connected objects. that is what is happening in europe today. vonnie: lots going on on this january day. let's check on the first word news in new york with emma chandra. emma: president trump is expected to impose a temporary ban on all refugee admissions to the united states. he is preparing to act on his campaign site for extreme vetting of applications from refugees from countries played by terrorism. yesterday, he signed orders that xt in motion a border wall of ago and strengthen immigration enforcement within the u.s.. speaks todonald trump republicans at the annual policy retreat in pennsylvania today. he is expected to inform congress of plans for bilateral trade negotiations with most countries in the transpacific partnership pact worried earlier, he pulled the u.s. out of the top mission agreement.
-- pact. earlier, he plan to pull the u.s. out of the top trade agreement. [indiscernible] in due course yesterday. it takes time. sheshe has been in government. it takes time to do. you will not waste time. the comments to lawmakers in parliament. theresa may arrives in the u.s. today. the final death toll from italy's devastating avalanche stands at 29 asthma victims were pulled out of the rubble from a hotel crushed by snow. nine people were pulled out alive in the first days. named the malfunctioning in initial rescue efforts. from pier three in san francisco, welcome to "bloomberg west" where we cover innovation, technology and the future of business. -- global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. vonnie: thanks for that.
back to the big deal, after months of negotiation, johnson & johnson has won over actelion for a $30 billion. it will become the leader in medicine for a rare type of high blood pressure. let's bring in pharmaceutical analyst in london, sam, what was it that finally decided the owners of actelion to go with j&j and how do they structure the deal? answer is inthe the structure of the deal. i think everybody has been openly talking about the fact that the ceo of actelion was reticent in giving up control of the company for whatever reason, whether he is forever wants to be running a company and doing research, or whether he was inking of the employees, etc. somethingto keep
going. i think this is the best deal they could've put together in terms of structures they have made. whatever actelion 2, he wants to call it, and conduent gets assets -- and j&j gets assets in terms of sales growth. won out.nd j&j finally sam: j&j had the biggest checkbook. they had $14 billion in net cash . it is around that level. others to bid above $30 billion, they would need to lever up their balance sheet and post four times, which is not likely. mark: would you care for $30 billion, sam? it is all about high blood pressure. that you it is a top unfortunately see people walking in the streets, you have to stop and breathe to catch her breath. it is high blood pressure in
your lungs, so you are not absorbing enough oxygen and has devastating effects on the body, especially the cardiovascular system. what's j&j gets out of it according to the estimates, about 5% or so eps rise from the first full year of making the deal complete, which would be probably 2018. then you get the sales rights and they were looking at a relatively speaking, because they are based on farmer aksiness, pretty we growth profile but this turns it around. mark: looking at the priceline -- sam: if you want something like this with $30 billion of revenue you your p&l, with j&j, need that, and you have to pay up. they're not very many assets they give you. if you look at the pe multiple and compared to recent
negotiations, you have to go out in the future years to get a meaningful comparison for the pe multiple. it looks at the top end of the range. i think this is reflective of the value of the assets. vonnie: any regulatory concerns not that we are in in your administrative era? sam: regulatory, i don't think so. issue, no major overlapping. i am not an expert, but there are no overlapping assets in terms of markets. i just wondered what the president's view of this deal is. they are using non-us offshore cash to do the deal. asked, why did they not wait to bring the cash back and look at other assets? i think yes to go back to my previous comment that there are not many assets around the give you that lift. there is a risk that the
president might take you of this . given what i have heard about what he wants done in terms of investments into the u.s. and cutting taxes to allow people to bring money back, we will see how this turns out. thank you. bloombergon television, u.k. prime minister theresa may on their way to the u.s. for a key meeting with president trump. this is parliament drawing up the brexit bill. vonnie: charter communications and why they say verizon did not propose a deal to charter. earlier, "wall street journal" did report they were pursuing a deal, but the talks are in early stages. their stock up. this is bloomberg. ♪
this is bloomberg markets. i am vonnie quinn in new york. mark: i am mark barton from london. vonnie: u.k. government published a bill to seek lawmaker approval to start brexit talks. we have the latest. 137 words, are we looking for more details? right. is the government's idea was to publish and shorten it as much as possible to avoid the opposition's amendment. no bill is amendment, so we expect the s&p 500 index to try and make trouble for theresa may by suggesting some amendments. they have party said they would require regular reporting
throughout the stages of brexit. mark: and they will decide on this. john has a key role. svenja: the idea of having a short and specific domains that su amendments as possible can be accepted. mark: talk to me about process. we have got the draft bill, the first debate next week, talk us through the process. about: this is all process. next week week is the second reading, which means you get two days of debates and a preliminary vote. then the bill goes to what is called committee stage, where you have proper discussion of the minor details in that bill, and that is when amendments can also get tabled. the government once this process -- wants this first process to be done by february 8, the main common boat, and then it goes --
vote, and then the goes on. mark: what about the bill? the bill that is today, the white paper we talked about yesterday? when will that be published? svenja: we do not know, they said they would not went to stretch set out much, but they say the white paper is the bigger deal for theresa may because what it does is sets out a plan. it may not give more details than what we have seen, but it will be on the table, it will be hard for her to then take a different tactic in negotiations and more crucially, it is something that is there that they can debate they want to. mark: we will see later. mark, later today, theresa may will tell republican lawmakers gathered in philadelphia that the u.s. and u.k. have a chance to win your their "special relationship for this new age."
kevin cirilli joins us in philadelphia from the retreat area of who will theresa may be speaking to and why would they want to hear from the british prime minister? just heard the press conference from house speaker and mitch mcconnell. they both have praise for theresa may, noting the special relationship between the united states and great britain. however, they continue to draw parallels with the populism rise of donald trump and with what happened with brexit. i can say that theresa may, before addressing the gop retreat here in philadelphia at the 3:00 hour, will be speaking privately with lawmakers. it will be regarding the latest developments happening with the latest developments with brexit. either way, republican lawmakers here suggest that this new administration perhaps could win you different trade agreements and trade developments between
the two countries. vonnie: in the previous administration, was the suggestion that the u.k. go to the back of the line here and what will donald trump's message ?e to theresa may kevin: i don't think they will be in the back of the line anymore. later this afternoon, president trump will be making a series of executive orders and continuing with a series of executive action on trade. of course on monday, he withdrew from the transpacific partnership, the 12 state nation the obamathat administration worked candidly with the republicans gathered in philadelphia to move through. that is gone, and now i would anticipate administration is going to announce later this afternoon which country they are going to begin bilateral trade agreements with. trump couldesident also impose a temporary ban later on virtually all refugee admissions into the u.s. what are we going to hear today when it comes to the suspension
of refugee admissions? kevin: i think you are going to hear a repackaging of campaign rhetoric. if you look at the public statements from the white house earlier this week, it is in some instances a softening of the tone or lack of policy specifics. i can say that paul ryan and were talking to reporters an hour ago, and suggested that at the end of the day, congress is going to have to make the policy specifics and that they are working here in philadelphia to lay out a concrete timetable of legislative action. mitch mcconnell saying they are already planning again for a heavy burden schedule, particularly when it comes to taking up president trump's supreme court nominee, which we expect a name on that next week. the to do list is busy, along, and they clearly are trying to get on the same page in philadelphia with this new
administration. kevin, in light of president trump's comments on building a wall, is the mexican president's trip to the u.s. looking less likely now? kevin: no. there are two points that i would make. first, mexican leaders are suggesting that the trip is still on and is going to be interesting to see what exactly these two leaders come up with in their second face-to-face meeting. the first from the campaign and the second with trump and the white house. the second point i would make is the cost estimate on how exactly how much money lawmakers and the u.s. will initially spend on bolstering the security of the u.s.-mexico border remains to be seen. estimates range in europe from a billion dollars to $20 billion. billion.lion to $20 privately, the trumpet administration argued that this isn't just about getting mexico
to pay for bolstering the u.s. security along the border. it is also a point of leverage regarding nafta and trade agreements, and the white house suggests that is where they feel they can make mexican leaders perhaps play ball with their aggressive agenda. vonnie: kevin cirilli will be live all day long from that gop retreat in philadelphia. ahead, a look at the biggest market movers in the early u.s. session, including airline stocks taking off on positive earnings news. this is bloomberg. ♪
be 6% in the fourth quarter beat analyst estimates. -- crossing 86% in the fourth quarter, beating analyst estimates. up from one year ago. barclays has settled on dublin post-brexit. the bank plans to add about 150 staff there it you cave-based finance companies have access to the trading. they will strike a deal preserving london's access within the two-year negotiation period. the u.s. mortgage probe forays on the world bank of [indiscernible] point $8ake a three billion charge and fourth-quarter results as it moves to resolve the probe into sales of mortgage securities before the financial crisis. rbs has taken more than 7 billion dollars of provisions related to mortgage investigations and litigations. further charges may still be needed. that is your latest bloomberg
business flash. abigail doolittle is looking at stocks moving on earnings. abigail: indeed. we had movies on earnings. here is a tale of two stories between ebay and mattel. attel is plunging and ebay on miss revenue estimates and they say that the pop-up has to do with mubarak expectations going into the corridor and he is not convinced there is a turnaround. speaking of, mattel down 14%, the worst plunge since every 2000 nine after missing earnings estimates by 27% and revenue estimates by 6%. it does not appear to be on the go. lotsr the airline space, of strength. southwest airlines and jetblue
reported, and are looking at nice gains for the stocks, in addition, american airlines and continental trading higher. southwest beat earnings estimates by 8%, citing postelection demands and ticket prices rising. george ferguson said capacity constrained for southwest airlines looked strong. for jetblue, less so, but the entire space in full rally mode. mark: stephen a minute. are ahead, emerging markets on a bit of a tear for the last four days. what is the outlook for debt this year? this is bloomberg. ♪
bloomberg television. let's check on first word news. emma chandra has more. mexican president continue theefuse to reimburse united states for a border wall. mr. trump said trade has been a one-sided deal for mexico's benefit. the mexican president said his country will not fund the wall [indiscernible] one dozen senators have been accused-- have president trump [indiscernible] of [indiscernible] other senators decried media reports that the new trump thenistration had imposed communication blackout on a number of federal agencies. japanese prime minister shinzo abe signaled he was put into a bilateral trade deal with the united states. he said yet finalized the negotiations and a japanese newspapers report they are set
to have a phone conversation in the coming days the meeting in washington next month. trump withdrew from the pacific the court this week. themily affair down under, miss williams and serena williams have advanced to the australian open. beats her older sister, she will a record grand slam title. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am emma chandra. mark: thanks a lot. emerging markets for the fourth straight day. since index trading high october. u.s. optimistic on presidents policies. blackrock's head of emerging markets debt, they have confirmed [indiscernible]
trump and emerging-market debt, that they conversation. on one side, fiscal policy and on the other, beer of protectionism. how does that play into the new year? o: using donald trump's words, the great transition, meaning monetary policy and unconventional to normalization, rates going higher, very goingult to make positive forward, so people pointed high-yield and emerging markets. this is one positive thing. the second one is we are transitioning from fiscal tax and there, he cannot grow airports, so commodity exporters are high-yield, so you will have a double plus for the countries. on the traditional politics
to populism, this is the problem we need to do selection. you might have countries in greece or russia, or countries in a situation like mexico, where they will need let's ability to engage -- need flexibility to engage with the u.s., and finally, we're moving from globalization to protectionism. this means emerging-market manufacturers, most at investment grade, will not be in the best position going forward. what is interesting is just buy decline in this, you have high-yield commodity exporters, short and you investment grade, where4%, without worrying rates or the dollar boko, so your percent -- 4% is hard to come by. mark: the a.m. spread is about -- the emerging markets spread is about [indiscernible]
how low can that go? are not interested on the spread overall because it is trade.d of on the investment side -- mark: on the commodity side? sergio: we believe you can get around 50 basis points. you need to do your selection to make should get the right countries, but 50 basis points times the duration of 45 -- well, a look at all the bad guys from the last crisis, commodity exporters that had to do their homework, looking at the finances are not coming back. brazil, russia, africa, columbia, all will be more in grace with america.
whereas, the good guys come at reformers, the manufacturers, ones that did their homework, the mexico's, the turkeys, the south east countries, are more likely to benefit from this fixed income. vonnie: what do you make of the announcement from russia that it would intervene in foreign exchange markets and that global will weaken again and that it had excess funds to spend say to the price of oil? sergio: on one side, you have a very positive bank account balance and the need to reload their reserves. notesk it is a very good because russia is using above 9% on local markets, so a lot of people are going to go for these countries and they need it to make sure that they manage the currency appreciation, especially to handle sanctions lifting expectations. it is the right way to make sure the ruble does not appreciate --
depreciate sharply and sugar imbalances in the economy. vonnie: how russia, what about other economies that have suffered from a higher dollar, south korea, turkey, what happens to those currencies in 2017? sergio: you need to look at the countries individually, but once more, if you look at the dramatic side of the many fashion countries, they will have protectionism in front of happens in whatever their own country that makes on hold,tually put such as turkey or south korea, with having other problems, idiosyncratically. i think a good thing is you don't need to invest in all the countries of emerging markets to cut your opportunities to redo just a to be selective. what is the meaning? well, just not heading in dollar directionality or interest-rate rationality, but just making
that selection to make sure we deliver a positive view this year. mark: how is china in 2017? sergio: i think it will be very difficult because on the one side, you have the economy bouncing back. eventually, we could say china has hard landed and now it is taking off. you have inflation there but you also have imbalances. ans, i would say upcoming trade negotiation with the u.s., and you don't know what the answer can be, so it could be eventually after a sweep and the next day, you see it is red. the way the u.s. is engaging with x ago because it will eventually be a laboratory for how they engage with china, said this makes the mexican situation very interesting because the u.s. cannot afford not to play
hardball. vonnie: are you holding off on mexico until we know more and what about brazil and argentina? sergio: this is what i say, mexico is part of the countries that need to be there. we believe the mexicans are going to find a way to engage with the u.s. on a positive note , but this is an outcome. the road to the outcome might be bumpy. why would we be taking that road when we have other investments that yield much higher? you mentioned brazil, argentina, russia, where the road is less likely to be volatile. vonnie: sergio trigo paz, blackrock's head of emerging markets debt, thank you. mark: coming up, to mollis, a former obama administration official, helping to enact trade policies with a look at
vonnie: you are watching bloomberg. i am vonnie quinn. barton.am mark this is your global business report. fourth-quarter profit in line with estimates, the company's chief executive tells bloomberg what he is worried about the year ahead. johnson & johnson making the biggest acquisition ever, buying swiss drugmaker actelion, for $30 billion. in today's bloomberg could take, taiwan, united nations visited of china,hem part but they are showing signs of
strength. matching analyst estimates in the last quarter of the next three years, financial well-being may be linked to president trump taking special interest in where cars are built to how efficient they will have to be. mark fields says it has been positive in the u.s. and that this is to stay on the all the for europe. mark: we will continue positive performance in china and europe. we expect europe to be down a bit based on the weakening of the sterling because of brexit. mark: johnson & johnson is making a $30 billion acquisition , the world's biggest maker of health care products agreed to buy swiss drugmaker actelion with one of their biggest acquisitions ever. j&j will become the leader in medicine, treating a rare type of high blood pressure. our bloombergor
could take, or we provide background on issues of interest. with president trump smart aggressive stance toward china, taiwan's female president is [indiscernible] our quick take explains. >> taiwan has a constitution, army and elected government, yet the united nations does not formally recognize it. china considers diamond one of its provinces. they talk of independence and it is hostile. independent meeting democratic progressive party test china's tolerance, as is a new president in washington. here is the situation, taiwan's first female president provoked an angry response from china by speaking to donald trump after he was elected. in deference to the beijing government, no u.s. leader had talked directly to a taiwan president in now most for decades. tsai says she wants peaceful ties with china while resisting
pressure on the china principle. that principle has underpinned relations of china in the past. it is the understanding that both sides up along to one china, even if they have different ideas about what that means. trump says his support for the one china policy hinges on cutting a better trade deal with china from the chinese government. trump: we don't have to be bound by one china policy unless we are bound with a deal to china. >> they are trying to maintain the status quo of existence with little independence. here is the argument. 5 million people have built them selves into a powerhouse. tsai to keep to
the peace while building international ties due to a future less dependent on mainlands. many in china say there is too much at stake from military confrontations. election added uncertainty to the old assumption and increased the absurdity of china, aiming missiles that taiwan and no peace treaty has been signed in the seven decades since governments. a the u.s., some analysts say supporting the one china policy has allowed to sell weapons to taiwan, helping deter china from retaking the island by force. vonnie: you can read more about taiwan and all of our quick takes at ni quick on the bloomberg. head to bloomberg.com for more stories. in onet has been lost week since donald trump was sworn in as the 45th resident of the united states in the first six days in office and he is already signed an executive order to a job from the tpp and says he wants to renegotiate
nafta. joining us with a look at what trump actions could mean for the u.s. financial and trade actions, is kim wallace. he helped to implement fiscal, financial and international trade policies. thanks for joining us. how do you rate donald trump's six days as president when it comes to the enactment of policies? kim: six days is a tough review period. on the messaging part, he hasn't spoken to this base clearly and the appreciate that. in terms of policymaking, announcements don't get you to policy. that is the beginning so we will have to wait the more time. mark: he has almost taken the low hanging fruit by signing this executive orders. talk to me about the the legislative process and how difficult it is going to be getting some of his key measures to congress?
-- thomas. kim: as republicans -- congress. kim: there has been pushed back as republicans gather in philadelphia. purely about the wall, questions about the pace and scope of health care reform and how quickly they can get to tax reform and what the plan will be. it is early in the process. they are still in planning stages and to be expected. memoranda,h the executive orders, the president seemingly doing everything he says he would do while campaigning. what do you think the real outcome will be? are going to have legislation shaped either gop when it comes to obamacare, immigration, all of these issues on the books for so long? kim: government depends on one's ability and agenda, public support and party support. we are at the early stages. my guess is by the end of the year, we are likely to have tax legislation. no one knows what it will look like. probably by the end of the year,
we would know what happens to health care, particularly the affordable care act. the strategy and plan is not well known. vonnie: how are we supposed to listen to the president when he says nobody is going to be left out when it comes to insurance, there is a wall that will be built and mexico will pay for it , do we take that as hard facts? thisit is hard to it point. the present has the luxury of negotiating and public right now and reaffirming statements you made on the campaign trail. eventually, he and his team will have to negotiate to get results, often the process involving multiple stakeholders and really turns out the way and executive plans. logic to you apply the sorting out a bilateral trade deal between the u.s. and the u.k.? theresa may is heading to washington right now. how easy do think it will be on the u.k. side to strike a trade deal with the u.s.?
kim: obviously, nothing has been easy for the prime minister since she has come into office. i do not think trade is going to be any less difficult for her. the first step is to find out with the u.k. is going to do as a member of the eu or post member of the eu and then that u.s. will engage directly in bilateral trade talks, but right now, the u.k. is a member of the eu and the u.s. has a multilateral trade deal with the eu. vonnie: when it comes to deficit , it may not be in the front of minds just yet, there are projections out, 30 years to 40 years, where do you see trump adding particular from the deficit? kim: fundamentals are something to hold onto doing uncertainty and they matter in legislation. scopeaphy will define the policy over the intermediate and long-term, meaning when the entitlements and, so in the meantime, the president seems to
favor tax cuts are reforms that may complicate intermediate outlook but that is yet to be seen. bottom line is that that in the in the growing -- debt u.s. is growing but demography will push it back up in the next decade, and that is something that washington will not be able to avoid very long without assuming a lot of political and economic risk. vonnie: throughout the labor market, we often pick up those orders yesterday on the pipeline, and there is a lot of talk about manufacturing and so on. does job creation change in this administration? kim: all presidents claimed that they will grow jobs and they obviously pay a lot of attention to it. it is clear the economy and private sector rose jobs more than the government does. my guess is that over time, over the next year or two, we will know more about the president policies and priorities within the agenda and find out how much job growth occurs and how much
can be assigned to his policy. keep in mind that trade is a two-way street and job creation is a two-way street. none of these are null songs. we will have to occur policies before he can judge job creation. vonnie: when we finally have the secretaries in place, some are and some are not, where do think we should be looking at a point of most concern? what change will happen more quickly? kim: i would say it is clear the commerce department will be a meaningful part of the administration. traditionally so are the justice department, defense, treasury and state great i pay a lot of attention to those five and i think they will last through this administration, as well. vonnie: we have partial confirmation. wallace in washington, d.c.,
live from london to new york. i will let vonnie do the weather check in new york earlier i am mark barton. -- new york. i am mark barton. you,e: i'm not as good as mark. i am vonnie quinn. exceeding analyst estimates, shares move higher on the news whohe release for new ceo just took over on this new role mastic. in his first major decision, he/dividends for the first time in eight years. earlier on "surveillance," he was asked, what is next.
jan: we are reviewing our priorities and basically setting out investment in areas where we both can and must win. here, i think we have great opportunities. we have a strong platform, position on technology and a very good financial position as a starting point. vonnie: that was erickson's president and ceo from stockholm. mark: coming up on the european close, u.k. lawmakers have two weeks to debate the short brexit bill introduced today. we will play you what to expect and look at european stocks 30 minutes away from the end of the first mixed session today. the stoxx 600 up for a third day, the best run since january 3. also, 13 month highs for the a pin banks. shares in london on lower but gains in germany sending the german benchmark to the highest since may 2015. more declines in france.
volatility is low. lower thann index 3.5 years. the currency board has been dated today out of the u.k. thanrowing .6% faster economist estimates, better than expected, .6%. economy,h of the u.k. and the euro down against the dollar and the dollar is in in in sentencing today. bonds, a slight to quality earlier but still in place. the yield on the 10 year in germany and u.k. and italy and spain all up today. ♪
this is the european close on "bloomberg markets." mark: we will take you from philadelphia to london, covering stories out of paris, hong kong and wall street in the next hour. u.k. lawmakers have two weeks to debate the short brexit bill introduced today. to limitnment looking the possibility of amendments by the opposition. mayie: in the u.s., theresa begins a two-day visit to meet with president trump on trade. two british officials say the u.k. does not have enough expert negotiators to tackle out any agreements. verizon is reportedly exploring a combination with charter communications.