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asked mitch mcconnell for a vote before the election." yesterday's senate majority leader mcconnell warned another health care fight would be politically costly and doomed to fail now the democrats control the house. mcconnell said the president had agreed to set aside his health care push until after the campaign. the house judiciary committee today approved the pianist for special counsel robert mueller's full pressure report as democrats pressure the justice department to release the document without reductions. last week, barr said in congress a redacted version of the report would be out by april if not tumor. jerry nadler says he prefers to give barr sometime to change his mind before issuing a subpoena. >> this committee requires the full report and the underlying materials because it is our job, not the attorney general's, to determine whether or not president trump has abused his office.
and we require the report because one day, one way or another, the country will move on from president trump. we must make it harder for future presidents to behave this way. we need a full accounting of the president's actions to do that work. mark: house democrats had given the attorney general until yesterday to provide the full mueller report to congress. the justice department ignored that deadline. talks continue today between british prime minister theresa may and labour party leader jeremy corbyn to try to work out a brexit compromise. both sides are describing the talks as constructive. parliament will vote later today on a bill that aims to prevent a no deal exit from the european union. meanwhile, bank of england governor mark carney said today the risk of a new deal brexit is "alarmingly high." global news 24 hours a day, on-air, and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg.
live from bloomberg world headquarters in new york, i'm shery ahn. amanda: live in toronto, i'm amanda lang. welcome to bloomberg markets. we are joined by our bloomberg and bnn bloomberg audiences. shery: breaking news moments ago. millions of facebook users records were found on amazon cloud servers. we have the details in the school next. trade talks time to start again in d.c.. reports say the u.s. and china agreed on most things except on how to police the agreement. and shockwaves across the hockey that thenews came out canadian women's hockey league will fold the next month. we talk to the interim
commissioner of the league. more on the bloomberg scoop and the breaking news that millions of facebook records were found on amazon cloud servers. have found rows of user information hiding in plain sight. after the cambridge analytic a scandal exposed how unsecure facebook users information is online. we are joined by our technologist from seattle. still showing up in places it shouldn't. what happened? firm the security research found in an amazon hosted cloud computing server, a mexican firm had stored a giant drove of user data from facebook users, related some of it to an app that the company use, others were defunct data, likes, comments, in some cases, email, and personally identifiable information. we justit is early,
recently heard from mark zuckerberg about efforts to increase data privacy. do we assume this is data from before, from around or before the cambridge analytic a scandal, and is still out there? that facebook has a bunch of stuff it cannot corral? >> i think we are only getting a sense of how long this will be with us, the firms have access to data for a while. frankly, it was stored into many places. too many administrators have access to things. in some cases, this discovery showed they are not properly locking it up. this was inadvertently made public, if you knew how to do the right searching on :00 computer. here, who is liable facebook, or the companies that took facebook information? >> facebook has taken plenty of heat for how much access they gave application developers to their users. the companies that are storing facebook data, using it for
their own marketing purposes, ad campaigns, other applications, they also have a responsibility to secure the that information and make sure it does not get stuffr go about deleting once it is no longer relevant to them. amanda: is there a piece of this that falls on amazon's feet, should this have been more secure, or is this data less protected than it should be? this is an ongoing headache for amazon, the largest cloud computing provider. they provide services for rent. over the course of the expanding use of those services, some people mistakenly configure their data to make it public. this has happened over and over again over the last several years and amazon has taken steps to get rid of that. warning signs to prevent you from making your data public. they've increasingly done more and more on this a read security researchers say at this point customers should be aware that there is the risk that you can put something up online accidentally.
donnan. we have this impression that everyone wants to move to a deal , a framework that feels aggressive. could there be some last-minute hiccups here? >> yes and yes. we are in the endgame here. the question now is how long that game drags on. the best case and are therefore this week is we get an announcement of some kind of a deal in principle, scheduling of a summit between donald trump and xi jinping to do the final ceremonial closing of the deal, at some time perhaps by the end of the month. and the world moves on. but these things can drag on for a while. the two issues that are left, how you phase out these tariffs that the u.s. has put in place in particular are incredibly thorny issue. the other being how you enforce the deal and what china's ability is, hold on its own sovereignty, how much vulnerability it has two future u.s. tariffs.
shery: do we have any point -- idea in beijing will come around and agree before these tariffs on $250 billion of their goods are lifted? shawn: china's goal all along has been to see all of the tariffs removed. president trump has been clear that the initial tranche that was put in place in response to an intellectual property investigation that he launched will remain in place, that he would like to see it remain in place. it could be that those are phased out in the years to come. but that is something that the chinese have objected to. they want to see this whole investigation and the tariffs that have come from it go away. we are at the point where we are getting close to a deal but we still don't know a lot of the details that are in the deal, and there are still some big issues that need to be resolved. it may in the entech donald trump and xi jinping talking about those issues. amanda: even the most reasonable
people who do not like to see trade friction unnecessarily have said that there are some germs a real issues here that the u.s. is pursuing, that donald trump is going after things that are worth going after. ,s he able to give up on those especially technology sharing, intellectual property, is he able to back off? not to lose face, but economically? spreadthere is such wide support for addressing those issues in the u.s. business community, and also in the u.s. clinical sphere on capitol hill. his big risk all along is that he would use all of this leverage that he has built up and end up with a deal that everyone looks at and says it was not worth it. to it to be worth it, it has address those issues of intellectual property, technology theft, and some of the other bigger industrial subsidy issues that the u.s. has long complained about in terms of the chinese economy. shery: do we have an idea on a
timetable? we have been talking about potentially president trump and president xi jinping meeting last month, that it was this month, and that is later in the summer. what do we know so far? shawn: what we know so far is they've been working to close the deal as soon as they can. there has been some talk they might be able to do that this week and schedule a summit. we have also heard the talks in beijing last week did not go quite as well as expected, certainly from the u.s. side. that may be a hold of. having covered trade talks for some time, these things always drag on a little longer than you expect. they always go late into the night. at some point, everyone gets so tired and give up and they finally agree on stuff. shery: shawn donnan, thank you so much. joining us from washington, d.c. breaking news on that boeing and ethiopian airlines crash. officials saying they will release the 737 crash report this thursday from the european
transport ministry. that airline crashed in march, killing 157 people on board. there has been ongoing investigations about the boeing 737 max 8 and the faa as well. we are hearing you neoprene officials who have been sharing out the investigations into why the airline crashed, they will come out with a report on thursday. just yesterday we had news breaking from bloomberg that faulty 737s sensors of the lion air crash, from october, the same model of planes were tied to a u.s. repair shop. amanda: one of the questions is where the liability will fall. for boeing, it may actually be a good thing to get this report into the market. we are getting leaks from the report, including today, a suggestion that pilot error was not a factor, that the pilots did everything right. those kinds of weeks not helpful to the company.
certainly not helpful in determining where liability lands. shery: in the meantime, boeing and the faa, and everyone involved is really getting investigated in question. joining us now for more on the trading impact on the global economy, let's welcome to wells strategy.itute of great to have you with us, christopher. let's talk about these trade optimism's that seem to be abounding in global markets. potential u.s.-china trade deal. is trade going to drive the next rally for global markets, or is it already priced in? is pricedt think it incompletely although there have been days where the market has certainly responded positively to trade. other days where the market has responded negatively to the suggestion that maybe things are not going quite so well. if we can get a deal soon, that could be the next way the market could rally. amanda: i'm curious about your
take on current valuations and especially where you see a potential for margin compression, in terms of a risk to the outlook for equities. >> there's a chance that going forward cost could begin to rise. that would not be unusual for late in the cycle. we are late in the cycle. we think stocks have made a lot of progress since the beginning of the year. on our ford earnings number, we are sitting at 16 point five, roughly fair value historically for the s&p 500. on a trailing basis, a touch higher than 17.5, witty coast to what we would consider to be fair value. we have the faang stocks leading the rally in today's session but we have seen more reports that millions of facebook user records have been found on amazon cloud servers. should we be concerned that we are going to see more regulation affecting these tech giants soon? is a concern in the
background and it's not clear how soon or how much the government may choose to try to regulate these particular companies. in the meantime, we still believe the tech companies, because of their cash, cash divided by debt, their liquidity ratios, that they are still a very attractive part of the market. we continue to like them going forward here. amanda: you talk about being late in the cycle but you are not calling an end to the cycle. give us a sense of how you are positioning clients around defensive stocks versus still looking at those cyclic the sensitive names. paul: your cyclical stocks should do well as the economy recovers, growth momentum, we think it will later this year. but the cyclical stocks also include what we would consider higher-quality stocks. referring to liquidity in terms of debt, liquidity versus debt. that is a key measure that the cyclical stocks also have in common.
in terms of quality, being more neutral and possibly defensive, those cyclicals could help you there, too. amanda: quickly, where are you on emerging markets? i think you like them. paul: most favorable, anticipating strong earnings growth this year. trade is an issue for emerging markets. if we get any sort of resolution, will help emerging markets. the bigger picture for emerging markets is we need to get through this soft patch in global economic growth. we think that happens later this year. that will help. amanda: great to have you with us, paul christopher, head of global market strategy at wells fargo investment. next, could a blow to women's professional hockey be the key to its future? we are talking to jayna hefford, interim commissioner of the canadian women's hockey league. this is bloomberg. ♪
hockey was dealt something of a blow this sunday when the board of directors of the canadian women's hockey league announced the league would discontinue its operations as of may 1. the chairman said the issue was funding, the lack of it, which made it impossible to continue operations next season. but the decision to shutter the cwhl leaves north america with one women's hockey league, and many are wondering about the sports viability and future. we have the interim commissioner of the cwhl, jayna hefford. we should note, four-time gold medalist for canadian hockey. thank you for being here. we should clarify, people may not know, women's hockey still struggling to catch up a bit. weeks. a not for profit cwhl, and the for-profit national women's hockey league in the u.s. when it was announced that this does not work, isn't he not for profit part of it that is not working? >> the not for profit part is a
big part of it. rcaaa status, we can never pay our players more than a small stipend. in the long-term viability of the game, we want to advance the sport and pay the women what they want to be paid. we said that as an obstacle. the other piece of it is, we rely on revenue, obviously, to exceed our expenses be we drive revenue through ticket sales, sponsorship, donations, through merchandise. we were just not seeing the support in the marketplace for that. we found that a big challenge. amanda: a big piece of your revenue, as i understand, was a single donor, who may have withdrawn some initial support. ,as going to corporations canadians generally, asking for money on the table before you made this decision, did you go to the market and say we need a new source of funding? jayna: i think we exhausted all
sources that we could. , irealize pretty quickly think, that that support was not there in this model to move forward. shery: so what was the biggest single obstacle to financing any women's hockey league? whether it is your lee, cwhl, nwhl, or any other previous women's hockey leagues? jayna: we want to try to advance the women's game, and we believe these women deserve to be paid a living wage. we can debate what that is. at the current structure we cannot do that. the marketplace has not been supporting what we think we can do with games, so there has to be a better out there -- option out there. shery: have you spoken to nhl commissioner gary bettman since the announcement? jayna: i have not. we gave him a courtesy call to let him know that we were making the decision. lots of talk leading up to this in terms of where the nhl fix into the picture. i cannot speculate on where the
game will go from here but i'm optimistic there will be great opportunities moving forward. the game is too good and the applets are too talented to not have something in place. we should note, amanda kessel is one of your star players in the women's national hockey league, her brother also happens to play. the paid difference is something to behold. gary bettman has suggested that leagueserge the two into one, the nhl may be more amenable to supporting. is that the game plan, bring you together, and say we are the little sister but we are growing fast? jayna: it's not possible to merge a not for profit canadian organization with a for-profit american organization, that's not possible. sometimes you have to tear something down to build it up bigger and stronger. i'm optimistic for future opportunities for future -- female hockey players, but it has certainly been a disappointing end. would you beanda:
willing to join the national women's hockey league? jayna: i cannot speculate on what the players would do. advocate forue to women in sport, female hockey players. i believe there are opportunities out there that they can, somewhere down the line, be paid a living wage to do what they do. they are great ambassadors and they give their time in amazing ways. they deserve to be paid for something like that. when we think about what has gone wrong for women's hockey, i've noticed from the coverage, hearing from players like you, where was the attention where we needed it? it is great to have the attention now but we didn't get enough airtime, coverage. you are still playing catch up a little bit. the game is highly regarded in terms of how fast days it is, high-scoring. how do you get women's hockey the recognition it deserves across north america, which is what you need? jayna: we are advocates for
women in sports. there is a lot of talk in the industry around supporting female sport. i really think it needs to be supported in a bigger way. we see that in trying to sell our game. i think the game has grown much faster than the business side of the game. amanda: players in canada earned a stipend, some hardly even a living wage. is the hope that you can create a situation where players are paid properly? even in the end of your hl, they are not paid meaningfully. jayna: neither league paid a salary, really just a stipend that covered expenses. the goal is down the line how we get to a place where the women are paid for the job they are doing. we will have to continue to advocate for that. amanda: great to have you here. jayna hefford, interim commissioner of the canadian women's hockey league. thank you. a programming note, tune into bloomberg "big decisions."
david westin sit-down with kevin johnson from the starbucks headquarters in seattle, --hington, tonight at 9:00 9:30 p.m. shery: if you missed out on any of the interviews we had during the program, you can go to tv . you can also ask questions, dive into the securities. gtv for those charts that we showed you throughout the show. from new york and toronto, this is bloomberg. ♪
demanding that attorney general william barr turnover the full -- russia report. barr says he will give cess a redacted version this month. chairman nadler says hegive thee to change his mind. in the first address to congress stoltenbergad, jen acknowledged divisions within the alliance and called to do with challenges such as russia. nato was created in washington 70 years ago this week. stoltenberg told u.s. lawmakers that "questions are being asked on both sides of the atlantic about the strength of our partnership, and that there are differences." stoltenberg held talks with president trump yesterday at the white house. iran said it will not let sanctions imposed by the u.s. prevented from rebuilding after an extensive flood caused major damage. iran