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Bloomberg
Apr 18, 2017 12:00pm EDT
city fed president esther george tells us why she thinks the economy is moving forward and what that means for future rate increases. this is bloomberg. ♪ vonnie: this is bloomberg markets. kansas city fed president esther george says they haven't made a decision on when to shrink the balance sheet area speaking exclusively to michael mckee, she gave her outlook on the forward strategy and where she thinks the economy stands. esther: the economy has that's and starts. we've seen this over the last five years. the first quarter looks to be relatively soft. keeping our eye on whatsapp anemic, i think as much as possible, not over interpreting what it means relative to the longer term. for the year as a whole, i still see consumer spending in a way that should carry the economy forward. intoel: the fed is divided a camp that says we can do one more and a camp that says we could do two more and a small cap that we could do three more. where are you pitching your tent? requires you can't and down the number today. it,eans toward the long run you know where you are headed and you continu
Bloomberg
Apr 17, 2017 2:00pm EDT
. bush, he under george does the ins and outs of the financial services industry. he was not very complementary toward elizabeth borak and one of the legislative tussle that they had. i would imagine she would remember that. she could, in syria, have another nomination. but she is likely to push back somewhat against him. >> why is it that donald trump seems to have such a fondness for private equity guys? they are dealmakers. what we have heard in the campaign enter the early parts of this administration, the president loves to deal. he does like to interact with people that speak his language, it seems. and in many ways, wall street very much stood on the sidelines. they have gotten increasingly close and they are not talking about regulation, the trade. these are people that have deep insight into different parts of the global economy and fill in some gaps were maybe the president doesn't have a lot of strength. on and itgo on and seems like we see someone knew coming into the administration with that sort of background. our go-to guy on the fed. don't miss these close of inter
Bloomberg
Aug 24, 2017 10:00am EDT
are diverging. yesterday, michael mckee spoke with a host of the symposium, esther george. she continues to favor another rate hike in this year if economic data holds up. >> i will be looking at the data in the next few weeks as we get ready for the september meeting and see whether that makes sense. based on what i have seen today, i think there is the opportunity to do that. michael: by the end of the year? >> i don't pick a meeting and i don't consider that rate path and those projections and commitment. i think it is a general sense of where rates should go. vonnie: the main event comes tomorrow when both fed chair janet yellen and ecb president mario draghi are due to speak. here is portfolio manager at janice henderson. he is a newport beach. nick, both may try to assiduously avoid talking monetary policy but they will not be able to completely avoid it. something the markets will interpret somehow? nick: that is exactly right. for the next year we are likely to face some sort of unintentional coordinated wind up of central bank balance sheets. the fed unwinding and the
Bloomberg
Apr 18, 2017 2:00pm EDT
undermine a growing economy. in a bloomberg exclusive with esther george. what one of the fed more hawkish voices tells us about how many rate hikes are appropriate this year. markets close in two hours time, julie hyman is tracking all the moves and goldman sachs is earning report is dampening sentiment. julie: as goldman disappointed on trading, stocks are up off the lows and we are seeing some buying and rotation into some of the more defensive names. consumer staples up today. along with telecoms, where there's a little bit of buying. lower, takenill down by goldman sachs and johnson & johnson, which we dig into later in the hour read i want to talk industrials. whoave snap-on, the company donald trump is set to visit today. whichen there's ranger, is negatively affecting snap-on, coming out with earnings that missed analyst estimates. granger talking about price competition putting pressure on its prices. shares are down 11.5% as earnings missed estimates and the company cut its forecast for the full year as well. something else that's interesting that we noticed you can see in the ch
Bloomberg
Dec 27, 2016 10:00am EST
as finance minister. he was just on-the-job one year. we are learning more about the death of george michael. his partner says he found his partner dead in bed christmas day. police are calling the death of unexplained but not suspicious. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. vonnie: thanks. we are less than one month away being sworntrump in. democrats are already preparing for a battle over taxes, warning the tax cuts directed at wealthiest will face united opposition. joining us now is our political reporter, kevin cirilli. we have gone a lot of rhetoric from the president-elect. does it appear he will go ahead with these tax cuts? he will.think perhaps what is more telling is that democrats are already mobilizing to oppose some of the president-elect's tax policy proposals. you have to remember that house speaker paul ryan has really made tax reform one of the crux issues of his speakership that he would really like to see through. i'll try and -- paul ryan has repeatedly tr
Bloomberg
Aug 22, 2017 12:00pm EDT
defense secretary jim mattis who was less george patton fire and fury and more cool hand luke, here is what is going to happen to you if you don't get this under control. i think that kind of approach is better. the rhetoric -- you can make the argument it is a catalyst, but i think longer-term you need a steadiness of hand. general mattis did a terrific job in that regard. the real key is china and convincing them it is in their interest to keep kim jong-un like a dog on a leash and kind of pull that leash back a bit before the dog bites somebody and has to be put down. vonnie: that was admiral james stavridis earlier on "bloomberg daybreak: americas." time for a look at the biggest business stories in the news right now. berkshire hathaway attempt to buy oncor electric failed. s&p has removed the company from -- s&p says berkshire had been on watch negative since july, reflecting uncertainty on how it would pay for that proposed $9 billion acquisition. cannot keep up with the demand for insulin pumps. sales will rise less than expected and revenue will be lower for the quarter ending
Bloomberg
Aug 23, 2017 12:00pm EDT
dow, american airlines and united both down in a big way, 3%, roughly 3% for both shares. george ferguson says this has to do with concerns about fares, somewhat a cautious note after raymond james after a management meeting with delta around potential pressures on airfares the oil up about 1%, that seems to be pressuring the shares of kansas city southern. some weakness for the transport. some weakness for consumer discretionary within the nasdaq, some of the bigger drags on the nasdaq, amazon down about 7/10 of 1%. after whole foods shareholders have approved the $13.7 billion deal. starbucks lower by a little more than 1% after cleveland research downgraded shares to a neutral. netflix down 9/10 of 1%. not quite netflix is down but it cheated, saying the solar clips on monday took away from their place by about -- why 10% of you watched a giant rock when i have always been there for you. a 10% of drop in place during pse.-- plays during the ecli nasdaq, in relation to its 200 day moving average, those rising. that tells us buyers are in control. this talks to the number of mem
Bloomberg
Oct 27, 2017 10:00am EDT
. he had senior roles under george h.w. bush. michael mckee, will continue to follow this story. michael mckee, our international policy and economics correspondent. vonnie: all right, in other news -- apple -- let's turn to tech. shares of apple are higher after the company began accepting free orders for its iphone 10. initial supplies for delivering next week sold out in minutes in several countries with weight times climbing is hot -- wait times climb in its highest six weeks in united states. join us to discuss the importance of the new iphone 4 apple an initial data on preorders is john butler. there was trepidation that those minutes after midnight, or those minutes after 5:00 or six clock in the morning would not see those orders rolled in, but they appear to be rolling in. good news forhe apple is the demand is clearly strong for the iphone x, and honestly, leading up to this, there was a question mark, because the iphone 8 has not been selling well. as we have seen with the recent prior refresh cycles, they have not always lived up to original expectations. people were
Bloomberg
Nov 8, 2017 10:00am EST
you to frack multiple times along the lateral. in the 1980's, george mitchell, the father of shale, first pumped this in texas. this technique spread throughout fromhe major shale areas texas to north dakota, and companies continue to innovate, drilling multiple wells in one small area with pipes in different directions underground. they can produce one barrel of oil for half the cost of what they did four years ago. efficient companies get, the more oil the u.s. produces. the u.s. is close to overtaking saudi arabia as the world's top oil producer, all thanks to fracking. just a taste of what you can get thursday night at 9:00 p.m. but it sets the stage or why the continuing revolution in tracking and shale could say -- shale could stay solid. i will be down at the new york stock exchange. pivotal because when you're ago, he was like, i am reducing debt, boosting buybacks and not spending on growth. everyone said he was crazy but now the industry is doing that. what he does today could outline what the industry is doing in one year. i am looking forward to that conversation. vonni
Bloomberg
Apr 17, 2017 12:00pm EDT
what hans or george said and that turkey had a more democratic election than anywhere else. he said those banging pots and pans lost eight times. there were calls by the european union to talk to the opposition. if you were still an opposition lawmaker in turkey, what would you say to him if he did come and talk to you? akyan: first, i think erdogan should read the oed report where members of the parliament and individual european nations argued that there was not an equal playing field. neither the campaign or the counting was in accordance with the european standards. a look atwhen i take various opposition entities in werey, i see they denied media time, denied rallies, denied culture alongside many of its lawmakers and mayors and party officials. this was a referendum under a state of emergency conditions. it was the farthest away from free and fair. vonnie: he is also saying the european union has made turkey way for 54 years at the door and turkey can hold a referendum for eu talks. thate eu sort of decides it's not part of the eu anymore, what does that do to turkey and inter
Bloomberg
Nov 1, 2017 10:00am EDT
whether george was simplys boasting. manufacturing activity rose last month. measures of pricing and capacity indicated inflation pressures are building. that comes a day before the bank will increase interest rates for the third time in a decade. this is bloomberg. vonnie: thank you. as i mentioned, developments in the robert mueller investigation with george papadopoulos claiming officials did agree to a meeting with representatives of the russian government. no indication yet if the meeting occurred. it could be another headache for the white house. we are joined by tim o'brien. on gadflycess those go. if there is reason to believe campaign officials agreed to the meeting, why is that a problem? tim: i don't think collusion itself is a problem for the president. it is not a crime to cooperate with a foreign government to a certain extent. the issue is whether or not they tried to cover up their tracts once they were asked about it. that becomes obstruction of justice. background narrative that they were not colluding, you now have someone within the campaign who said let's take th
Bloomberg
Jan 20, 2017 12:00pm EST
, that he would be more george w. bush then like bill clinton. he is a young man but he would have an active life but not a big figure on the national stage in the short-term. donald trump's election has change the calculus and for a leader of a party that has been shattered in many ways. they are going to look to barack obama more than chuck schumer or anyone else on the stage. the most staggering thing about this is that barack obama at least right now seems ready to accept that mantle. >> here he is, barack obama and people will be watching these remarks closely for signals about the posture he will take but i don't think he will show his full hand as to what kind of post-presidency he will have. this is an unusual event. thanksart of it will be including the folks at joint plays arews, a facility huge part of any presidents life as it is the arrival and departure point domestic and foreign. you see the obama's now as civilians at andrews. you don't need to know them to see that well they recognize what they are leaving behind them what they are headed for. and it'stand there impor
Bloomberg
Dec 6, 2016 12:00pm EST
insight on what this could mean for boeing. george ferguson with bloomberg .ntelligence joins us why did donald trump tweet this, and where does this $4 billion number come from? george: i am not sure where the $4 billion number came from. where this may have come from and why this is front of mine for donald trump could potentially be a washington post article that was published last about 120 $5 billion worth of administrative waste at the pentagon, which is a large portion of the defense budget. i think it is interesting because it seems like donald trump, he is returning to some of the campaign discussion he had about getting rid of waste at the pentagon. i think if you were a defense watcher it is also interesting. it does not mean he will give a blank check to the pentagon to increase spending on more defense programs. it seems that he is going to try to economize at the pentagon, and maybe this is front of mind because of this washington post article. it will not just be bowing that will be in the crosshairs bo --eing in the crosshairs. david: that piece by bob woodward and craig
Bloomberg
Jan 23, 2017 12:00pm EST
president said that he thinks his administration can cut regulations by 75%. former president george h.w. bush is leaving the intensive care unit from a hospital in houston is -- and is being moved to a regular floor. he has been suffering from bacterial pneumonia. his wife, barbara, was discharged from the hospital, where she was being treated for bronchitis. in france the former education minister was the front runner in the socialist party primary. he will face the former prime minister next sunday and a runoff to determine the socialist candidate in april's presidential election. the independent candidate could be helped by a win next week. some socialist voters find him to left wing. global news, 24 hours per day, powered by 2600 journalists and in more than 120 countries. this is bloomberg. vonnie: taylor riggs, thank you. earlier,terioration but we are off the lows for the dow. being dragged lower by qualcomm and other companies with the nasdaq down one third of 1%. let's get more details now from abigail doolittle. abigail: among the declines for the major averages, the worst sec
Bloomberg
Feb 1, 2017 12:00pm EST
war we will see a global recession. david: george soros sat down with renting the qual -- francine lacqua and called donald trump a con man, how was his approach different? >> he was more bearish the middle of last year, saw more problems with china. vonnie: brexit of course. well.xit as some of the rhetoric has gone euphoric, not only on the united states on china, there are not that many people talking about that problem, the fragility of that economy, and that could be another thing that sets a recession in motion. vonnie: great reporting, thank you for that. that is our hedge fund reporter and coming up, our exclusive interview with the general electric ceo and what he says about small businesses. this is bloomberg. ♪ david: live from bloomberg world headquarters in new york, i am david gura. vonnie: i vonnie quinn and this is "bloomberg markets." with the headlines, it's mark crumpton. mark: president trump says if gridlock stalls nominee neil gorsuch, it may be time for mitch mcconnell to consider the option to go nuclear. that would mean changing senate rules to make it im
Bloomberg
Dec 27, 2016 12:00pm EST
george w. bush. his responsibilities will include cyber security matters. french authorities are considered a main suspect in the berlin deadly attack. they do not know how he made into france. anri was shot and killed in italy. the secretary-general of the united nations will it end his tenure term in new york times square. park will push a button to start the ball drop that signals the beginning of the year, december 31 is his last day in office. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries, i am courtney donohoe. this is bloomberg. vonnie: thank you for that. a quick check on you as stocks now. you can see we are just above 10% on the dow jones. 500 is 22 69. the nasdaq is up more than half a percent. let's head over to abigail doolittle with more details. abigail: we have many movers and the tech sector. biogenic, higher off the highs. quite a nice, biogenic is up 1.6%. ionis is up more than 3%. it's a drug was approved by the fda. it is upon therefore bio jim, they have marketing rights to the drug. -- it is good n
Bloomberg
Dec 7, 2016 12:00pm EST
services during the george w. bush administration. the trump team could still go in another direction. donald trump tells nbc news that he consults with president obama and values his views. from says that he has asked mr. obama about some of his appointments -- trump says that he has asked mr. obama about some of his appointments. the battle over brexit inside the u.k. supreme court went on for a third day as judges decide whether government or parliament has the power to leave britain out of the eu. the supreme court is hearing an appeal against a ruling last month in favor of parliamentary approval. by ministers plan -- prime plans to begin exit measures in march. lawmakers believe the exit is not legally binding. the court decides tomorrow. global news, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i'm taylor riggs. this is bloomberg. david g.: thanks very much. on capitol hill today, u.s. lawmakers grilled the ceos of at&t and time warner about how their proposed tieups up could help or hurt consumers. it would own much of the prog
Bloomberg
Feb 20, 2017 7:00am EST
papaconstantinou. here is what papaconstantinou had to say about the current situation in greece. george: it is sustainable over the next five years because exemptions are very low, very small. interest rates are very low on the central loan. beyond that, even if you do not buy the full analysis, because i do not think everybody knows where you will be in 2016, even then, it is clear that greece needs additional debt. that is something the germans are not willing to accept in principle. the eurogroup has said they will do more on greek debt relief. with german elections coming up, the germans are not willing to actions toinal identify what measures short of a haircut -- everybody understands it will not be a normal haircut -- so taking the rate at today's low levels, and a bigger grace period. >> but the germans want to see more. they want to see more austerity. really putsipras more austerity in the greek system without it being -- i minister of the irish says it will be the straw that breaks the camel's back. germans and the eurogroup are talking about a prime minister target over the
Bloomberg
Jan 25, 2017 12:00pm EST
. dreamliner washe behind the strength. george ferguson said overall this is a very strong, solid quarter. one thing that stood out to him was the fact that guidance was light and he was disappointed by the 9% margin for the commercial segment, but the military segment had an 11% margin which he said was really quite solid. you would think the military margin could help the defense contractors, but we look at lockheed martin and general dynamics and looking at a lot of weakness here. this is probably more of a reflection that lockheed martin offered a 2017 earnings below estimates. this is one of the best sectors since the election. #btb 5702look at g since the election. in orange we have raytheon. they are all trading higher. we see that general dynamics is outperforming in a big way, up about 14% since the election and douglas says this have to do with the company's exposure to the shipbuilding activities, something that has been supported by trump, while lockheed martin is weighed on by that view and fears along -- around cost-cutting. vonnie: thank you for that from our market wall. l
Bloomberg
Dec 28, 2016 12:00pm EST
investors are euphoric. george: i don't think we are at euphoria territory yet, joe, but there has been a large change in sentiment over the last few months. i definitely -- that definitely place into an economic cycle coupled with where you see the previous transmit the example of consumer confidence index, the spread between the percentage of the list equities versus parish is at the highest 2007.since february joe: what happens then? george: yeah, exactly. we are not headed for anything like what we saw in 2008, 2009. i would never put ahead for 40% of like that. that said, sentiment is getting properly bullish after the bull market that has climbed the wall over half a decade now. speaking of that, stocks have done just fine, thank you, even the sentiment has been low for quite a long time. we are sort of not used to it anymore because it has been so long. what does it mean? what can we take away from that more positive sentiment? toward -- way i think about it is a loss from a purely contrary in perspective. it is hard for assets to lose value when everyone thinks they are goi
Bloomberg
Jan 12, 2017 12:00pm EST
what president george w. bush has by 2001 , he had passed a tax relief package with the help of dozens of senators because they knew their constituents would like it. >> those are all big issues. let's take one or two, for instance, infrastructure spending, when will we know what the timing is. >> we've gotten some joyful noises about infrastructure from democrats and republicans alike, and americans are excited about this because we don't build anything in america anymore and we all know our roads, bridges, infrastructure is in desperate need of repair and innovation. this is a guy who builds things for a lives, this is the right person to be stewarding and putting as a major priority in his first 100 days infrastructure. >> one last specific. we heard if elected president, hich he now has been, he would declare china a currency manipulator first thing. when can we expect that announcement? >> if he said it then, he means it now. we're very respectful of one president at a time. i've even heard it on your network, so we can't have it both ways, we have one president at a time yet we w
Bloomberg
Dec 13, 2016 12:00pm EST
compromise -- also has conflicts in the way he runs his business is. every president since george washington has taken steps to isolate himself from the conflicts of their personal wealth. we want to donald trump to do that. it has nothing to do with his business. we want him to set up blind trusts and divest from these holdings. we are anxious to see how he intends to separate himself from his business. thank you so much, senator ben cardin joining us from capitol hill. scarlet: donald trump has pledged to make america's business structure second to none. we will be speaking to the ceo of aecom. this is bloomberg. ♪ oliver: this is "bloomberg markets." scarlet: donald trump's pledge spendingand researcher -- and researcher spending -- today, we are putting the spotlight on one company, a ecom, whose shares are up 40% after election day. a number oferseen infrastructure projects from concept to completion, including one world trade center. joining us now is the chairman and ceo of aecom, mike burke. you are in new york city, you held an investor meeting today in which you discus
Bloomberg
Jan 10, 2017 12:00pm EST
. that is the one thing the airlines really have control over. that will be the key. george ferguson believes there is still too much capacity out there and that is likely to weigh on fares. if they do drop, this could weigh on delta. when we go into the bloomberg, this is a two-year chart of delta airlines. we see in the past it has been well extended above the 200 day moving average. more recently it is more than 20% above the 200 day moving average. investors are perhaps a little too exuberant. the uptrend out of the june bottom, if delta were to consolidate act down to the 200 day moving average, that would mean that perfectly, adjusting a decline ahead for delta. one of the big sectors the reports this week is financials. bank of america, jp morgan, and was margo will all reports on friday. the bloomberg intelligence analyst said today that she believes according to consensus earnings and revenue could be 2% above on a year-over-year basis relative to 2017. she is saying outlook is key. another key could be yields. you take a look at a six-month index, youe s&p bank see huge gai
Bloomberg
Feb 6, 2017 12:00pm EST
through. easier than under obama or even george w. bush. we might be looking back to the reagan era, when it felt like there was very little scrutiny. i mean, that's what they are hoping. vonnie: jeff, i mean, to a certain extent, with very little earnings growth in very little overall macro growth, companies doing deals without demand returns? they have to engineer earnings. exactly. interest rates are still low. we are still in this situation where investors will see a company do it deal and be supportive of it. that someone might break someone is buying something and the shares go up. 10 years ago anyone who was going to spend that money, their shares would get pummeled and they would drop on the day of the announcement, but we don't see that much anymore. vonnie: what about lbo activity? jeff: this is going to stay slow. vonnie: all right, jeff mccracken. coming up, president trump, advising global populism on the markets. we will have a device from the head of global asset allocation, next. this is bloomberg. ♪ ♪ live from bloomberg headquarters i am david gura. going with's get
Bloomberg
Jan 13, 2017 12:00pm EST
early 2000's couldn't and george w. bush decided let's improve our relationships through the oil industry. in october 2002 there was an energy summit in houston. and the second in st. petersburg that run together members of and executives from 70 oil and gas companies to do deals. that fell apart as the kremlin nationalize these private companies and as u.s. records storage ring progress on the new technology. we do not want to share this with the russians. that has been a freeze for the past 15 years or so. members of the russian oil industry and members of the putin government see this as a chance to restart that negotiation especially with rex , the nominee for secretary of state. that is a nominee they think they can deal with. you have an incoming administration and a secretary of state who has been the ceo of xo with huge ties to russia. he had the different wars in the middle east and brushes cyber hacking. this look like? >> sanctions are going to be the key lever by which any negotiation will start. and maybe and with. u.s. get out of this, if we remove sanctions what do
Bloomberg
Dec 8, 2016 12:00pm EST
depressive affect on exports. so something to monitor. david: thank you very much. later today, george magness, at theity of oxford china center will discuss the anti-establishment votes across the globe and why markets have been largely complacent. coming up, can alphabet bring financial discipline to google's moonshot project? this is bloomberg. ♪ david: this is "bloomberg markets." i'm david gura. out of makes a lot of money. google is profitable businesses makes $27 billion a year, but those much talked about moon shots, like the self driving cars, those businesses lose almost $4 billion. alphabet try to do something about that. it's the cover story in bloomberg businessweek. max chafkin is with me now. perhaps most memorable is the google glass. that which was widely disliked by people who felt like their privacy was being invaded. what did google learn from that? >> it embodies a lot of things that were maybe problematic at google. amazing technology, not so sharp on the business side of that. one of the reasons that may have happened, one of the reasons that my cowriter and i
Bloomberg
Jan 17, 2017 12:00pm EST
predecessors. former presidents bill clinton and george h.w. bush had a transition approval ratings above 80%. russia has invited president-elect donald trump to syria peace talks next week. the meetings in kazakhstan would be moscow's first formal contacts with the new administration. fight against the terrorism will be more effective with the u.s. under trump. and the foreign minister once that a new vote on breaking up the u.k. is likely after prime minister theresa may's brexit speech. scotland's nicholas church in the uk's heading for an exit from the european union that could be economically catastrophic. the hunt for the missing malaysia airlines flight 370 is over with plenty of questions and few answers. crews from malaysia, china, and australia ended the deepwater search in the remote area of the indian ocean. the boeing 777 disappeared on a flight from kuala lumpur to beijing in march 2014. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. i am emma chandra. this is bloomberg. david. david: thanks very much. the u.s. dollar f
Bloomberg
Dec 9, 2016 12:00pm EST
part of the last administration to increase the gas tax. she was the deputy chief under george h w bush, and the last time the increase happened was under his administration. if she were to get behind this which industry groups are hoping she might have a sort of key position not only as the chief of the dot if she in confirmed but also the wife of mitch mcconnell. there is an opportunity for some sort of backdoor dialogue there and maybe she can help get senate republicans on board. david: thank you so much. denying it cuto daily atm withdrawals. ♪ ♪ david: live from bloomberg's world headquarters, i am david start with the- headlines. taylor: the president of south korea has been impeached. lawmakers voted to remove him from office after a -- remove her from office after a peddling scandal. the constitutional court will deliberate over whether to end her presidency or reinstate her. defense secretary ash carter says the u.s. will assist afghanistan for years to come. >> we not only continue supporting our afghan partners, but continue our cantered -- counterterrorism mission
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