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Bloomberg
Jun 9, 2017 12:30pm EDT
particularly in recent years? george sard: the biggest change is the compression of the news cycle we live with. it used to be that we would've mel at a press release of a deal we were melted and it wouldn't show up tomorrow morning. not everything in a 24-hour news out a-- we would mail press release of a deal and it would show up tomorrow morning. -- now everything is in the 24 hour news cycle. paul verbinnen: 25 years ago, we did not have internet or the cell phones. that technology that the challenged big media is also made it possible for people to go directly to their constituency. are in the news every day with the trump administration. how often do you feel like you know where the source of a leak comes from? are you able to share that information with clients? >> the place i would start to say is leaks are prevalent. we have done analysis to show the percentage of major deal leaks is up significantly in the last five years. oftentimes, it is hard to figure out where a leak came from. you never really know for sure. you can make good gases in terms of whether there was a motiv
Bloomberg
Mar 7, 2017 12:00pm EST
and kurdish targets. said turkey also discussing plans to recapture islamic state. george michael died of natural causes as a result of a fatty heart disease. he was found dead at his home on christmas day in england. george michael was 53 years old. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am mark crumpton. this is bloomberg. thanks. a check on u.s. stocks. we have been down all day. 29,033. s&p 500 down about .25. nasdaq down about .2. lower but still not with much conviction. let's go to abigail doolittle to see what is going on. abigail: well put in terms of declines. when we look at the imap for the s&p 500, a great way to look at what is happening sector wise. mainly red but some green creeping in. the battle between the bulls and bears. health care had been the worst now one of the worst sectors is energy down nearly .7. not surprisingly, this suggests the drags her big energy names, including exxon and chevron. are modestly lower, down less than 1%. the biggest drag from the s&p 500 down more. stocks are m
Bloomberg
Mar 6, 2017 2:00pm EST
president trump's revised travel ban. , bloombergime around intelligence analyst george ferguson believes that this has more to do with delta revising versus yields to the lower end of the range and investors are somewhat disappointed on that. george ferguson thinks that the airlines right now are a little bit optimistic about ayers. and that pressure could -- about fares. and that pressure could fall in the future. >> thank you so much, abigail. let's check in on bloomberg first word news this afternoon. mark crumpton will probably not be discussing franzen. mark: president trump signed a new executive order on travel. press secretary sean spicer tweeted this picture of the president signing the document. the order will restrict entry to the u.s. by people from six predominantly muslim countries. iraq is no longer on that list. syrian refugees will be treated the same as other refugees. effect march 16 and last 90 days. the administration says the new order was needed to address urgent security. according to a draft seen by bloomberg news. the communicating will be negotiated. back in ju
Bloomberg
Dec 12, 2016 10:00am EST
for doing it and george soros paid a big fine. however, it isn't an obvious at all. in the u.s., or prosecutors have vigorously pursued insider-trading cases, there is defining what constitutes insider trading and what doesn't. there are also huge variance in penalties, with a maximum two years of jail time in france, with a maximum of 20 in the u.s. or south korea. the decision restored some, but not all of the levers lost by when anors in 2014, appeals court in new york narrow the definition of insider trading and made it harder to bring cases. it became a crime in the u.s. through judicial interpretation of a 1934 law aimed at cleaning up the 19 29 stockmarket crash. one of the most famous cases made a household name of ivan boesky, who was thought to be part of the inspiration for the character gordon gekko in the ." 7 film "wall street legislation against the practice until the 1990's. but after 2013 scandals embroiled prominent firms. the argument is that insider trading proponents contend it allows information to be incorporated into stock prices quickly, making the more accu
Bloomberg
Jun 7, 2017 12:00pm EDT
christopher wray, who ran the justice department under president george w. bush. he called him a "man of impeccable credentials." and the united nations says the united states will not allow the u.n. to "bully israel" anymore. nikki haley spoke today in jerusalem after parading the un's top human rights body. israel attacked the georgia state unfairly. ambassador haley told the u.n. president "i have never taken kindly to bullies, and the u.n. has bullied israel for a very long time and we will not let that happen anymore." montenegrins flag has been o's flagt -- montenegr has been raised at nato, as they officially joined the military alignment -- alliance. it was called a historic day, now has anenegro equal voice of the table and the decisions the alliance makes. albania and croatia were the last companies to join -- countries to join nato in 2009. on mark crumpton, this is bloomberg. vonnie? vonnie: coming up, we will be heading like to the annual bloomberg in best summit, where winke; nkle re -- lreid will speak. this is bloomberg. vonnie: this is bloomberg markets, i'm vonnie quinn
Bloomberg
Jul 10, 2017 2:00pm EDT
the years. , lot of them like george soros they made their money by spotting the trends early and some of the computers are taking over and doing that faster and better. we see very low volatility. a lot of managers are saying time when will be a volatility comes back and may be at that point, they can grab does problems again. data is showing over the past five years on average, they haven't really made any money. we have talked a lot of them going under. what about the survival of the macro funds when they have not been doing well for quite some time? >> they charge the highest fees in the industry. they have had that cushion there for a while. and the other, really, is that it continues to make some money if you're ready to make macro isagers betting that there some volatility there. we have seen a few bright spots. julia: actually finding risk-adjusted returns is incredibly hard. will they be trading more or less, taking more or less risk. that, they seeing take on more risk. --they were saying managers with bigger risk comes the potential for bigger mistakes. they go to that
Bloomberg
Aug 9, 2017 2:00pm EDT
a pair of two-term presidents. david rubenstein speaks to bill clinton and george w. bush, tonight. ♪ julia: this is bloomberg markets. scarlet: i am scarlet fu. julia: between geopolitical tensions and climbing earnings, a notoriously volatile month of august in a game of push and pull. we are joined by oliver. oliver: indeed, things are pulling in opposite directions. talked about tensions within the equity market. i think that is still largely the case. let's look at something that a lot of investors think about somewhat bearish lead -- bearishly. investors like to see a lot of plots moving upwards at the same time. that is not happening now. 500 index., the s&p in the white is your equal weight version of that index, in which the weighting of the companies does not matter. when this goes down relative to the s&p 500, that means fewer companies are participating in the rally. this bottom panel is the ratio between the two. it is a way to discuss the index beating the equal weight index. for investors, that spells warning because other companies are not participating. this char
Bloomberg
May 26, 2017 2:00pm EDT
reporter george leigh and oliver renick. plans to add what it calls countercyclical factors to its daily axing. what does that mean? recs it is more like a black box, no one knows exactly what it means. there seems to be an emerging consensus that it would stabilize the dollar and exchange rate. essentially what we would be seeing, is a period of repegging. : is it trying to prevent a collapse? [indiscernible] >> it is within a narrow range. it is trading between 680 and 690. on the other hand if you look at the yuan rate versus other including the korean won and the japanese yen, the renminbi is signing according to that index post by the china foreign exchange trading system. >> is this a temporary measure because they want stability heading into the meetings in the autumn, and in line with that, what does it mean for sdr inclusion because they make such a big deal about the liberalization and what message is that sitting out? and moody's mentioned the reason why they were willing after the downgrade to give them a stable outlook, was that because of capital controls because they
Bloomberg
Sep 29, 2017 2:00pm EDT
governor? i do ask because he did serve in the white house under george w. bush, was in charge of the day today, but was he an influential voice? not on monetary policy. during the financial crisis, he andone of the top bankers terms of reasoning with wall street. he worked with the banks and that. that, and had discussions on how to save the economy. a macro economist without with a note today criticizing his for cap -- warsh's forecasting ability. everyone is criticized for that, so how important is that of the job, ultimately? michael: it is important. we talk a lot about the fed is the economic projections, and the fact that -- the fed's economic projections, and the fact they have missed a lot of them. he would probably be relying on the staff quite a bit, and he help producing the forecast. that might be more mainstream because that is where the staff is coming from, but probably not a big deal where he forecasted a lot of inflation and it did not happen, because you can name a lot of fed voters this year who did that. scarlet: quickly, how much staff turnover is there when ther
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
Nov 10, 2016 10:00am EST
one man in 1932, george gallup, he conducted a ball for his mother-in-law running to be secretary of state in iowa. it was accurate and she won but he's still got some predictions wrong. remember this headlines, one of the biggest headline election blunders was a result of incorrect polling, including gallup. morewere refined to become accurate and they grew exponentially as they did. today in u.s. there is gallup, rasmussen, 20 tx, reuters, even bloomberg and ask them. -- conduct them. it is getting harder to trust their accuracy because of the cell phone which is one reason. all calls to cell phones must be made manually which is not only time-consuming but expensive. also, since anyone receiving a call on her cell phone can see who is calling, they tend to not answer the pollsters call. --2012 the low response rates means it is becoming harder to get accurate responses and analyst are more likely to trust aggregations of polls like those created by 538, real core -- real clear politicsas they do not just focus on one poll. here is a lot of work to be done to find out why they keep
Bloomberg
Aug 16, 2017 12:00pm EDT
. - - denouncing the president and his lack of condemnation. >> the 41st president, george bush,ush and george w. they both put out a statement not specifically denouncing the president by name but coming out forcefully against nazism, white supremacy, making a very forceful statement in contrast to what the president did where he sort of equivocation between many sides and different groups, and also the senate majority leader, the house speaker, both republicans, the highest-ranking republicans in congress putting out statements over the last 24 hours that seemed to repudiate the president's comments even though they did not directly, comments about what the president said, they took a different strategy when directing this issue of white nationalism, white supremacy, and neo-naizis. they were able to denounce these groups without saying it's about both sides, and basically making it clear they are uncomfortable with the way the president handled it. vonnie: the trouble is these rallies aren't over. there was another statement you mention from the senate majority leader. it ostensi
Bloomberg
May 10, 2017 12:00pm EDT
george w. bush and the number two position. you have not been shy to make tough decisions, even controversial. how important is it to explain why? some of the things people are reacting is the explanation to last august and what happened with the democratic administration and the democratic attorney general and that seems less implausible. all, was airst of week 12 hours into this? you know, i think making a demand for an elaborate as one nation 12 hours into it is an interesting objective but hardly critical. therek everybody will get -- and just what is going on and stop trying to turn it into world war iii. david: let's go back to the agenda. what is the most important thing the president should be focusing on? sam zell: i for sure do not think it is james comey. it is important as i think health care is an tax reform, at the moment, i think what is going on in the world and we have had eight years of no foreign policy and we need to get one quick. and i think what is going on in venezuela and the ukraine, what is going on in the middle east, they are the most important issue
Bloomberg
Sep 6, 2017 10:00am EDT
united airlines did cut their revenue view within the airline industry and george ferguson of bloomberg analysts say it is pretty sharply, so we see those sharply. back to you. julie: thank you w. -- thank you. we have overnight breaking news of the bank of canada raising and we see a drop in u.s. dollar versus the canadian dollar. the bank of canada saying it is raising rates to remove "some of the considerable monetary policy stimulus in place." at the same time, it is flagging risks to the economy and has a cautious tone. interesting they are raising but having a cautious tone but the dramatic market reaction, mark. mark: we are looking ahead to the ecb decision tomorrow. expected.h drama a little change, down earlier, about .4. the upon list to the lowest level since february. for the industry, the insurance industry, it is 33, close to being oversold. we rebounded from a decline of 1%, holding that first day decline with the first gain in three days. this is the european gauge, a fourth day.for the market is rising, the fix indexis the -- the vix is climbing earlier. even
Bloomberg
Jun 22, 2017 12:00pm EDT
. director jim comey. in the next hour, we will be speaking with george mathews, c.e.o. of california-based drone company. about his meeting with president trump. yes, it was a c.e.o. tech meeting today, too. this is bloomberg. ♪ >> is 1:00 in washington, 6:00 in london. from bloomberg world headquarters in new york, i'm julie hyman. welcome to "bloomberg markets," the trump economy. here are the stories we're watching. it replacement for obamacare. mitch mcconnell says the final vote may come as early as next week. regulators say they are ready to roll back ranking world saying the rule is too complicated. president trump has his own jobs crisis. how the administration passes in ability to fill millions of vacant government jobs is hobbling his agenda. ♪ julie: bloomberg reported there were not tapes of president thend trump's meeting with fbi director james comey. the president just tweeted with all the reason the recorded electronic surveillance, unmasking, and legal leaking of information, i have no idea whether there are tapes or recordings of my conversations with james come
Bloomberg
Aug 29, 2017 2:00pm EDT
obama, or george w. bush, or president clinton? at this point,k, it would make a difference, certainly with respect to party. i do think in the next two or three months, we are going to have a number of opportunities topreserve -- tw observe the predictability of our presidential administration. the trade negotiations between mexico and canada, and china, and if the world reaches the conclusion, collectively, that our administration is very difficult, or unpredictable, to deal with, that is a negative, not only for the markets but for the world economy. >> given the insurgencies -- given the uncertainties right now, what is the lesson for the investor? how should the investor prepare for the wide range of possibilities? there is decade-long research about how difficult it is to figure out when exactly to get of the market. and i'm pretty convinced by the research, that no one can do that extraordinarily well. history, therein were people who became very famous for predicting the crash of 1987, for the financial crisis in 2008. most of those people predicted one of those things accurate
Bloomberg
Nov 9, 2016 12:00pm EST
rate hikes next yields are backing up quite substantially. george: the bond market is reacting not just to that being in play. you expect a risk off kind of behavior. it was very short-lived overnight. if we continue to see financial condition stable and the economy took a hit on this transition of power, the fed should hike. howmuch is what -- michael: much is what we are seeing in the 10 year, how much of that is a risk cranium and how much might be an inflation premium if he is going to cut taxes and do additional spending? george: there were folks saying but 15% is his magic number when the facts change you have to change your approach. many of us around the world look to the u.s. bond market for higher yields but if we enter into higher inflation or stimulus induced growth, that will come with higher rates in the long-term and short-term sector. the question is how much of the back and move that we have seen starts to impact fed thinking? we have had a 67 basis point rise in rates. basis points with higher yields when the housing market was getting accustomed to low rates, fut
Bloomberg
Nov 2, 2016 10:00am EDT
andresidents statyed presidential hopefuls state including ted kennedy, the caucus, george h.w. bush. the list goes on. vonnie: is its history buffs who seek out these properties or do they market it to anyone? james: real estate agents with certainly argue it does add value, but i think that there is trick that george washington slept here. anyone in new england can claim some sort of historical providence. a lot of these places i mentioned have a much more direct connection, and i think that history rubs off a little bit on the value of the property. nejra: we have to leave it there, but it is a fascinating story. i urge everyone to read it. thanks to james. you can read more about luxury at bloomberg for your destination for the finer things in life. coming up, a pound power. certainly continues to gain against the dollar. we will continue this with a top ethics strategist at ing. that is next, and this is bloomberg. ♪ vonnie: it's 11:00 in new york. 3:00 in london. 11:00 in hong kong. i'm vonnie quinn. nejra: i'm nejra cehic in for mark barton. welcome to bloomberg markets. ♪ vonn
Bloomberg
Jan 5, 2017 12:00pm EST
george h.w. bush administrations. he's the leading candidate for the undersecretary of international affairs. will attend donald trump's inauguration. he was one of trump's strongest he let theters -- anti-european u.k. independence party until november. he was a key player in britain's vote to leave the eu. the obama admits race and has announced terror related sanctions against the son of osama bin laden. administration has announced terrorism related sanctions against the son of osama bin laden. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i'm emma chandra. this is bloomberg. a bit of mixed data on the jobs front today. a slowdown inting private sector hiring last month. tumblingobless claims as the year ended. all of this before the december jobs report tomorrow, the first major data wrapping up 2016 and the economy's performance under barack obama. dan moss joins us for a preview. we are roughly in the ballpark of creating plenty of jobs, more than we need come almost. would that be a correct statement?
Bloomberg
Feb 16, 2017 12:00pm EST
quickly. any years ago he did serve on the labor relations board under george bush. brought on -- as the u.s. attorney for that southern district in florida, and as assistant attorney general, he had a lot to do with civil rights matters, among other issues, he has spoken out on the rights of muslims in the united states. this was back when he was an appellate judge. a rich history, much of which does not center around labor relations, although we believe he has many published opinions we will be taking a look at. he would be the first hispanic -- would alleviate some of the criticisms a president trump not naming enough hispanics to cabinet positions. vonnie: florida native as well. margaret, thank you. we will be back with you after that press conference, which we will find extremely interesting. we will take you live to that conference when it happens. once again, former assistant attorney general alexander acosta is going to be nominated to the position of labor secretary by the president. in just a few minutes we will bring that conference when it happens. this is bloomberg. ♪ i'v
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
Mar 16, 2017 10:00am EDT
hawkish is that what we are suggesting here? know.don't it is too early. mark: george stays with us. we will talk about the latest decision from the bank of japan and what we can expect for the rest of the major central banks. this is bloomberg. ♪ i think it would be different for the simple reason suffering mores and everywhere else is looking more optimistic, particularly in europe. thoseill be positive for countries. -- the fed maybe raising a couple of times this year. there are deviations, but it is partly because we're going to a shock which is specific to the u.k.. of aheade we got ahead of ourselves? bloombergmeeting went releases story, the ecb could end. rates before the are we getting ahead of ourselves? do you still think tapering will be preannounced this year? >> i think it will. it might not be until after the election season is over. the second half of 2018, it will take some time. i think we should remember that tapering is not tightening. it is still loosening. we have said we will see a recession within five years and there is no doubt about that. taking the fed
Bloomberg
Jan 26, 2017 10:00am EST
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. ♪ from bloomberg world headquarters in new york and london, i am vonnie quinn. mark: i am mark barton. this is "bloomberg markets" on 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
Bloomberg
Jan 18, 2017 12:00pm EST
opposing sides in the nearly six-year syrian conflict. ankara -- thatr president george h w bush has been hospitalized in houston. a spokesman says he was taken to the hospital on saturday for shortness of breath. mrs. -- mr. brush is said to be responding well to treatment and will be going home soon. the former president is 92. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i'm emma chandra. this is bloomberg. david? david: the world economic forum is hosting its annual meeting in davos, switzerland this week. schwartzman is also the chairman of donald trump's strategic and policy forum, and erik asked him what he is learning from spending time with the president elect. >> i've come away with the fact time,t's a really busy that he wants to do -- at the end of the day, the right thing for america. wants to improve the economy. flexiblehe's a pretty time, person, when he's presented with information. he'll go to the right place. sometimes a little colorful getting there. an interesting quick study. k: some of the things he
Bloomberg
May 16, 2017 12:00pm EDT
edward george and -- edward, the director of public policy at rice university. he joins us from houston, texas. let me begin with you and ask you what the turkish president's message he today whether it is to the turkish president or those watching turkey closely. >> i think the fundamental message president
Bloomberg
Mar 21, 2017 10:00am EDT
do with the ban relative to laptops and the middle east. however, george ferguson told our team that is not the case. most of the declines in the u.s. base, especially jetblue and alaska airlines, they are leaving the declines. it is really a risk off day. a good day to monitor here after relative calm for a few days. vonnie: let's get more on the ban that abigail was referencing from middle eastern airlines that bars passengers from carrying large electronic vices on u.s. bound flights. our managing editor joins us now from our dubai bureau. how are the airlines responding so far? >> the airlines generally are saying if these are the rules, they of course will abide by them. they have to they don't really have a choice but to abide by them. mark: who is affected and who is going to be hit the hardest? i think it is mainly the airports that are acting as international hubs, especially the airports with the three gulf carriers -- dubai, abu dhabi, and a heart. har.o i think turkish airlines will be hard-hit as well. they will probably not welcome this as they are already seeing the im
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 7, 2017 12:00pm EST
morning. still ahead, we will speak to economist george from oxford. fx reserves falls to the lowest since early 2011 below the $3 trillion mark. news, the s&p 500 unchanged, the dow is up about 15 basis went after touching intraday high. we will see with 30 minutes left. this is bloomberg. ♪ to first wordt news. jeff sessions has cleared another hurdle. moveenate vote is 52-47 to ahead on the nomination. he is expected to move ahead. hiscrats question commitment to civil rights, opposition to immigration laws, -- president trump estimation's chief foreign officer. says the affordable care act is still rising and repellents are committed to rescuing people from it. lawmakers are taking action step-by-step and plan to finish their work on a new bill by the end of the year. implement a replacement for obamacare could take into 2018. in london, parliament votes down plea.al, there will be no spoke in the house of commons. of a greaterink signal of weakness than this house to send the government that to the european union and say we want to negotiate further.
Bloomberg
Nov 30, 2016 12:00pm EST
trade in verse. george ferguson says that move tends to translate right into jet fuel. he expects this to translate to jet fuel. here are the individual airlines that are trading lower, including united airlines, american airlines, southwestern airlines, and of course jet, all trading lower. they are off of the lows. we go to the bloomberg and take a look at btv 5193, the chart may give us reason to believe the airline could come under continued pressure. this is a 16 year chart, and in blue, we have oil and and white, we have the airline index. we street -- we see a strong relationship, definitely chu in 2008. the airline index absolutely traded lower. in 2015 at 2016, as crude oil crashed lower, the airline index now, someher but expecting the oil could trade higher gold, trading to about 55 per barrel but this could put the airline under pressure. david: this morning, the details of the deal started to immerse. spoke totin alix steel the global head of the commodity research at goldman sachs and asked them to weigh in on the deal. >> our view was that we expected a deal and a k
Bloomberg
Nov 17, 2016 12:00pm EST
presidency with hugo chavez. politics withzed his fiery anti-u.s. rhetoric, saying of george w. bush -- >> yesterday, the devil came here and it smells of sulfur still today. >> chavez nationalized thousands of companies he said were not functioning in the public interest and focused all resources on one thing -- producing oil. this meant almost everything venezuela consumed needed to be imported and he borrowed a lot of foreign money to fund at all. in 2013, the first domino fell and shop has died. fell14, the second domino and the price of oil started to crumble. for 95%of oil accounts of venezuela's export earnings. then venezuela found itself suddenly short on cash. the government responded by falling down to avoid into debt. inflation has surged into the triple digits without an end in site. takenonomic downfall has its toll. the boy for hours to get simple household goods and their misery index is the second highest in the world. it's so bad that food shortages have prompted major riots and the president is bearing them rent of the line. the menstruation to have been held acros
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
Aug 9, 2017 10:00am EDT
george w. bush say are their greatest achievement while running the u.s. we will have that story next. this is bloomberg. ♪ mark: this is "bloomberg markets ." i mark barton with vonnie quinn in london. vonnie: this week, we hear what former presidents bill clinton and george w. bush had to say about their biggest accomplishments while they were occupying the white house. >> what would you say in your 8 years you were most proud of having done? >> i was most proud that when i left office, we had the broadest period of shared prosperity in 50 years. the bottom 20% income in percentage terms, and nobody was mad at anybody. it was shared across racial and religious and regional lines. did abolished inequality? no. you cannot in a market society, but at least we found a way to have more shared prosperity, including three budget surpluses. >> what would you say in your 8 years? president bush: my daughter loves love me. [laughter] president with: it is a itllenge -- president bush: is a challenge to have daughters when you are president. our family unit strengthened. i think that is a gr
Bloomberg
Jan 25, 2017 10:00am EST
burchfield as independent ethics advisor and george soriano as chief compliance counsel to the builder promise from their january 11 press conference to divide between the trump organization and white house. meanwhile at the white house, president trump later today is expected to unveil key executive action to fulfill a campaign promise on immigration policy. look for him to lay out a plan for how he will secure the u.s.-mexico border. however, he could run into potential problems with members of congress, anticipating that budget committee members of how much funds will be allocated for the action. that remains to be seen. vonnie: kevin cirilli reporting from the white house, thank you. as we saw, resident trump tweeted last night that they would be a big day on national security. among many other things, we will build the wall. for more on trump's plans, let's handed over to david gura. david: thank you. we are joined by michael mccaul, representing the 10th district in congress. great to have you. we see the emphasis with the exclamation mark on building the wall from the pr
Bloomberg
Mar 1, 2017 10:00am EST
water management by april 15, and david mccormick, former treasury undersecretary under george w. bush, is being elevated to co-ceo with eileen murray, formerly of morgan stanley, also who has a deep background in technology. these are big changes at bridgewater, the world's largest hedge fund manager. mark: what is the significance of the mccormick co-ceo with murray? do we know much? erik: do we know much about them? well, we know that eileen murray has been effectively running a good part of the firm already. her skill appears to be in administration management and oversight of the technology operation. david mccormick, by virtue of his experience in the public sector and government, mark, is a little bit more of an external-facing prison. bridgewater needs -- external-facing person. bridgewater needs both of those kind of people in managing roles gregse ray dalio and jensen, another former co-ceo, are running day-to-day investments. one more thing i would .2, mark, out of this memo from ray dalio, is that he is putting the world on notice that he will be carried out of the bridgewa
Bloomberg
Dec 12, 2016 12:00pm EST
jail for doing it and george soros paid a big fine, but it is an obvious at all. here's the situation. in the u.s. where prosecutors have vigorously pursued insider trading cases, there is no clear law defining precisely what constitutes insider trading and what does not. there's also a huge variance in penalties with a maximum two years jail time and transfers is 20 in the u.s. and south korea. the u.s. up in court upheld a california conviction that resolved what sort of benefit the insider must receive to constitute a crime. yorkpeals court in new narrow the definition of insider trading and made it hard to bring cases. here's the background. insider trading became a crime in the u.s. through judicial interpretation of 1934 law in the cleaning of markets in the 1929 stock market crash. one of the most famous cases made a household name of ivan boesky, who was thought to be part of the inspiration for the character gordon gekko in the 1987 film "wall street." and the u.k., insider trading became illegal in the 1980's. while legislation was not enacted until the 1990's in germany. th
Bloomberg
Nov 22, 2016 12:00pm EST
wrong. pointedon the show and out how people were very excited about george w. bush at first and that did not turn out well and they were negative on obama and the last eight years were awesome. they might just have it all wrong. point. is such a good anyone who thinks they know what donald trump will do, you're crazy. people underestimated him so badly in the primaries and the presidency. all of those celebrating, they might not be laughing if , whichteagall comes in is already a possibility. byis anyone offended still the george soros advertisement? >> the thing that came up more than hurt feelings, for example, he said, i'm worried about women in america, immigrants, muslims. those people have been hurt by the thinks donald trump has said, but my family will be fine. >> that says it all. a fantastic read on the bloomberg, available at bloomberg.com. joe weisenthal will be back in about 30 minutes for u.s. stocks are trading at a record high. we will monitor that events. at 2201.00 ♪ hii'm here to tell homeowners that are sixty-two and older about a great way to live a better
Bloomberg
Nov 10, 2016 12:00pm EST
took over from george w. bush. so he plans to continue that as well. goes, as the cabinet donald trump doesn't go the republican party anything. vonnie: could put anyone anywhere. steve: he really could. and he knows a lot of people who cross the partisan divide. and so i think that will be something we are watching closely. time, he at the same will want to put people in who will do hisddin bi of sorts. and so where he feels like he appointmost latitude to people that he trusts but also, people that won't cause headaches for him, that is the narrow lane in which i think he will operate. the timetable for this, generally? we don't know that much about his policies or plans. we want to get names sooner rather than later. looking at history, how quickly does the president name members of the council? steve: i think we will begin to hear names next week. then, through the holidays does pose some convocations and problems. i think we will hear about some of them before thanksgiving but we will be done hearing about of december.nd and that leaves january, really, for everyone to get s
Bloomberg
Jun 5, 2017 10:00am EDT
-known mushy people, ronald reagan, henry kissinger, and james baker, george w. bush, regularly used the concept of the community of nations as what the united states was trying to uphold. when we step away from that, our adversaries have to suspect that we're going to do less for other nations. other nations are going to feel more strongly that they have to take matters in their own hands. and we saw that experiment. we saw that experiment after the first world war when nations pulled away from each other. when the united states didn't join the league of nations. when britain and france stood for maximizing repa racials from germany rather -- reparation from germany rather than trying to create some kind of internationalcies tefment this is a potentially catastrophic philosophy. and it comes at a home when we have the very serious terror threats that you talked about, and i suspect ultimately more consequential we have the challenge of integrating into the global system arising china. my colleague, graham, at harvard has an important new book out on the trap talking about the diffic
Bloomberg
Nov 3, 2016 12:00pm EDT
inflation pass us up. speaking to george lat later in the hour. given the breaking news, we've shares becomee one of the worst performers in the s&p 500. taken down the averages more than they were. stock has been holding pretty steadily. for much the afternoon here. particularable in for its eighth straight decline. like that seen a drop since 2008. according to dan curtis makes haven't seen, we an eight day drop this millennium. interesting here, here's a look eight day drop on an day to basis pep we were actually higher and rolled over lower datate the latest polling that shows hillary clinton slightly heated of donal -- ahef donald trump. still some concern. the pull back during this period has been 2.7%. i wanted to talk about the today.on the mow healthcare very much a part of that which we'll get into detail. .t's down .6 of one percent it's texas with the biggest drag today. and energy,ncials holding up relatively well. let's talk about some of those stocks.al according to bloomberg news reporting, the justice department which began anti-trust investigation, is chargesg to fil
Bloomberg
Nov 21, 2016 12:00pm EST
under george w. bush, korean-american who didn't speaking was when she got to this country. those are just at the top of my head with no notes. it's been dozens and dozens of people who represent all walks of life, both political parties, both genders, different sexual orientations, religion, it's been quite exciting. >> are you going to florida tomorrow or wednesday? when is he returning to new york and can we expect -- [inaudible] ms. conway: he is going tomorrow to have thanksgiving with his family. when shet to determine is going to return. a lot going on. his appointment will come out when he is ready and not a moment sooner. these are big decisions and they should not be read. we are weeks and weeks and weeks ahead of president carter, president reagan, even president obama hadn't appointments by ths point, nor should he be subject to -- i don't think so. no. to be determined. none are scheduled now. >> [inaudible] can you talk about his relationship to his fellow billionaires? [inaudible] >> it is not a hindrance at all. he is the guy that gave way to forgotten manthe or forgot
Bloomberg
Feb 24, 2017 12:00pm EST
a stake in the airlines. george ferguson of bloomberg intelligence told our team weeks ago that the fact that warren buffett has such a big stake in the airline suggests he may think that fuel is likely to stay at current levels, oil lower for longer, plus a progrowth play. it will be interesting to see what the annual letter perhaps. lisa: thank you so much, abigail doolittle. is a war between bulls and bears on treasury today. we are seeing a rally on the 10-year, but the next guest sees the deals hitting 2.9% by the end of the year. joining us now is subadra r ajappa of societe generale. the conviction that the market is long and they are underestimating the risks associated with inflation, as well as just general growth. >> what is driving the markets right now is uncertainty. one, election overseas in france , the netherlands, as well as germany. the second is uncertainty about the timing of the next rate hike. the third factor is uncertainty on fiscal policy front. once we get through those uncertainties, we can get back slow,ck to where a gradual rise in yields -- lisa: hold
Bloomberg
Feb 23, 2017 12:00pm EST
commerce under george w. bush. erase concerns with our relations with mexico right now. >> mexicans are up in arms. i haven't seen such tension between the two countries since the 1970's or 1980's when mexico is very nationalistic and protectionist. it was a very different country. our relationship had grown to positive levels that we hadn't seen before. and now we run the risk of backtracking. mexico has a presidential election in 2018. we could be creating the conditions for an anti-american populace taking over mexico. is what you her just now from carlos gutierrez square with what you saw yourself in the co-earlier this week? when we met with our counterparts of the mexican senate, they told us that specifically, they were very clear that what president trump is doing shows a lack of respect for mexico. it is difficult to have a positive relationship. statement.ral damages -- very much david: you agree that there is an issue about how we best handle it. can you reach across the aisle, can they reach across the aisle? absolutely. i visited the border in el paso and talked to our border
Bloomberg
Nov 15, 2016 10:00am EST
confirmed. a big spike in oil today following george stories. that.tulations on diplomatice final efforts being made to assure there is a deal come the end of november? >> we have two weeks to go to the meeting. is a lot of see meetings. multilateral meetings of ministers. the president of opec. algeria has played a huge role trying to get this deal together. venezuela, role of saudi arabia and iraq. we see meetings happening right now in rio where th are having meetings. see more meetings later this week when the .ussians will be attending mark: what does the compromise like? what will be the end game do you think? i think it is something the think currently is in the markets. and also internally to the domestic audience. shoulder most of any production. they want lipservice coming from other countries that alone.ll play so far we are not getting that. the main problem is we have only two weeks to go and there is a lot of work for opec to reach a compromise. >> sort of ignoring the non-opec countries recently. talking about algeria. our problems continuing for oil?ed to and do yo
Bloomberg
Jan 19, 2017 12:00pm EST
forum. an extensive interview with billionaire george soros. this is bloomberg. david: this is bloomberg markets. let's check out bloomberg first word news this afternoon. >> it is the story we have been talking about all morning. steven mnuchin in his bid to become the next u.s. treasury secretary. they told senators at his confirmation hearing that he will be -- mr. mnuchin: i am committed to be very responsible in my position there and make sure i properly provide support from the treasury department. i would take my responsibility very seriously. will enforce sanctions against ironic and a night he had offshore entities to avoid is. said that having donald trump won't be such a great deal after all according to officials in moscow. their skepticism that any -- the backlash over russian hacking has forced the cabinet picks to take tougher lines on russia and -- than the kremlin anticipated. global news powered by more than 2600 journalists and analysts in 120 countries. this is bloomberg. david: we will go back to the office building. the minority leader starting a second ro
Bloomberg
Oct 24, 2016 10:00am EDT
and florida, it will be enough. rove played a major role in george w. bush's campaign. global news 24 hours a day powered by more than 2600 journalists and analysts in over 120 countries. final lisa parenti. this is bloomberg. vonnie: thanks. i want to break the headline now, the one falling to the weakest level on record. it is weaker by another quarter percent, versus the u.s. dollar. china yuan, weaker story. pboc is time to keep up with the u.s. dollar. that.l watch now to the big deal that everyone is talking about, at&t has agreed to buy time warner for 85.4 billion u.s. dollars. the ceo spoke earlier today about this megamerger on a conference call. >> we are convinced this combination of time warner and at&t is a perfect match for our 2 companies vertically integrated. we will bring a fresh approach to how the communication industry works for customers, content creators, as well as advertisers. vonnie: news of the imminent deal was reported by bloomberg news october 20. joining us is alec sherman, who has been doing stunning work on all of this. congratulations. let's talk
Bloomberg
Sep 26, 2017 10:00am EDT
income tax reform, the rate came down to 28%. it is now 40%. it was pushed up a little by george h.w. bush, then pushed up a littleclinton, and bit more by obama. i think there is a case for rolling back some tax increases. michael: gator talk from congressional republicans that tax cuts pay for themselves. that is not true? mr. feldstein: they don't pay 100% for themselves. they pay back part of it through higher growth through people choosing marginal tax rates coming down. they choose to get more of their income in taxable formed rather than in fringe benefits and perks. that reduces the revenue loss from cutting the tax rate, but it does not eliminate it. that is why we cannot bring down the corporate tax rate as much as some of the current discussion suggests. michael: you went through the original tax debate in the reagan administration. that took a couple of years before it was resolved. this administration is talking about introducing the outlines this week and having something done by the end of the year. you think that is realistic? mr. feldstein: the ways and means committ
Bloomberg
Mar 14, 2017 2:00pm EDT
. and then you have josh bolten, former chief of staff to president george w. bush, but he was a never trumper conservative. you see them trying to mend fences and what they call a business family environment. brody, great story on the bloomberg terminal. scarlet: still ahead, trading tech in a rising-rate environment. this is bloomberg. ♪ oliver: this is "bloomberg markets." i am oliver renick. scarlet: i am scarlet fu. time for "options insight" with julie hyman. julie: joining me is the chief investment officer at recon b in your note today, you said we are seeing risk-off on options trading. >> across the board in the index those are the european call options, a lot of institutions traded them. more puts being traded, as well as the etf's that tracked py, and like the qqq, s when you look at the vix, two times the amount of calls. we are anticipating an increase in volatility picking up across the board, and they are doing it in every product they can. it, ifon the surface of you just looked at the vix, for example, it would look like no worries about anything, practically, becau
Bloomberg
Dec 30, 2016 12:00pm EST
initial autopsy of george michael has been tests areve and more needed to establish a cause of death. his death on christmas day is unexplained, as but not suspicious. the manager said he died of a parent heart failure at his home. global news 24 hours a day, powered by more 2600 journalists and analysts in over 120 countries. i am courtney collins. this is bloomberg. oliver: stocks are on track for the first three-day slide since the election. still poised well in the green in the year up about 10%. jonathan golub has been one of the biggest cheerleaders of the bull market. the s&p already surpassing his year and target. he is still optimistic for the year ahead. julie hyman and mark barton asked for his 2017 playbook. >> i was bullish last year and we surpassed my 2225 target and we have a 2500 target to the end of 17 -- 2017 cleared the way you -- 2017. the way you play within the market is different than a year ago. it has become much more procyclical, taking advantage of trump policies and the fact that the labor markets have become much tighter and are pushing interest ra
Bloomberg
Nov 15, 2016 12:00pm EST
about the george washington bridge scandal , they have further, part and now it looks like that's further, part and it looks like the donald trump team is looking to remove chris christie. vonnie: how vulnerable is -- disposable is writes previous best re -- the new chief of staff? >> he is like donald trump's washington establishment guy, to keep them connected to focus on the hill and two republicans on k street and the rest of the republican establishment in this town. i do not think he will go anywhere. will beally i think he a stabilizing force in the white house, particularly if you've been in survival -- steve bannon survive the scrutiny and keeps his senior role in the trap administration. -- trump administration. david: people still upset donald trump selected steve bannon. could the transition team responded that and then to the pressure -- bend to the pressure? >> i would be shocked, it would take jeff sessions, his closest confident, saying that steve bannon is a problem before donald trump would throw him overboard. i do not take a republican who ran against the washi
Bloomberg
Apr 11, 2017 2:00pm EDT
the policy overall is george ferguson. everybody has been talking about this. let's talk about the general policy overall. this is something that goes on all the time, the concept of overselling. that?stainable is airlines have been pushing up load factors to make their operations more efficient. they fill the airplane with more people. as you get closer and closer to , you they are near 85 now run the risk of having to bump passengers. if your policies don't keep up with the challenges of bumping passengers, you get into situations like this. it might have been better to offer money and clear people off the flight that way. abigail: what does this do to business travelers? there's a lot of business travelers in terms of airline revenue. does it change that segments perception of using the full carriers? george: i think business travelers have to think about it. situationend up in a where you get involuntarily bumped from an airline and you don't make a business meeting. , american and delta are the three big full-service carriers. that is where they make their money come on the bu
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